Document:

Exhibit 10.22

                              FORBEARANCE AGREEMENT

         This Forbearance Agreement (the "Agreement") is entered into between
Quint Star Management, Inc., IC One, Inc. and Schimatic Cash Transactions
Network.com, Inc., effective as of March 26, 2001.

                                    RECITALS

         WHEREAS:

         A.       On or about August 30, 1999, Quint Star Management, Inc.
                  ("Quint Star") filed a lawsuit against IC One, Inc. ("IC
                  One"), Quint Star Management, Inc. v. IC One, Inc., Civil No.
                  990908764, in the Third Judicial District Court of Salt Lake
                  County, State of Utah (the "Lawsuit"). In the Lawsuit Quint
                  Star sought, among other things, to collect unpaid rent owed
                  by IC One to Quint Star, under a Lease entered into between
                  the parties on August 21, 1997 for certain space in the Alpine
                  Building, located at 700 South 205 West, Salt Lake City, Utah.

         B.       In the Lawsuit a Judgment was entered in favor of Quint Star
                  and against IC One on or about December 5, 2000, in the amount
                  of $50,541.03, plus postjudgment interest at the rate of
                  twenty-four percent per annum, and other amounts as described
                  in the Judgment. A true and correct copy of the Judgment is
                  attached hereto as Exhibit A.

         C.       In early February, 2001, Quint Star caused a Writ of Execution
                  to be served upon IC One, in an effort to collect the
                  Judgment. The Writ of Execution was served at 740 East 3900
                  South, Salt Lake City, Utah, and attached to all personal
                  property of IC One located at that address.

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         D.       In response to the Writ of Execution, Peter Bennee filed a
                  Request for Hearing, and a hearing was held before the
                  Honorable Sandra Peuler on March 13, 2001. At the hearing
                  Judge Peuler ordered that Quint Star may continue to pursue
                  its rights under the Writ of Execution with respect to all
                  personal property of IC One, including the conducting of a
                  sheriff's sale to auction such property.

         E.       There is also located at the 740 East 3900 South property (the
                  "3900 South Property"), certain personal property owned,
                  according to IC One, by Schimatic Cash Transactions
                  Network.com, Inc. ("SCTN"), which presently is conducting its
                  business operations at the 3900 South Property.

         F.       SCTN is currently using IC One's property, including,
                  furniture, office equipment and other property, to conduct its
                  business operations at the 3900 South Property.

         G.       In the event Quint Star were to cause a sheriff's sale to be
                  conducted of the IC One property located at the 3900 South
                  Property, this would cause a substantial disruption to the
                  business operations of SCTN.

         H.       SCTN asserts that it owns the 3900 South Property, jointly
                  with Big "M" Investment ("Big M"); that SCTN rents the
                  property from the owner; that the obligation to the landlord
                  is seriously delinquent; that the landlord has served on SCTN
                  a Three Day Notice to Pay Rent or to Vacate; and that the
                  landlord has announced its intention to file an unlawful
                  detainer complaint, to evict SCTN from the 3900 South
                  Property.

         I.       Big M has agreed to resolve the foregoing dispute, however, by
                  forgiving

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                  the past due rent and allowing SCTN six months of free
                  occupancy of the 3900 South Property, in exchange for a
                  conveyance to Big M of SCTN's thirty-four percent interest in
                  the 3900 South Property.

         J.       Big M has insisted that the afore-referenced conveyance must
                  be free and clear of liens. However, the Judgment referred to
                  in paragraph B above has been listed, by Merrill Title
                  Company, as an encumbrance against the 3900 South Property.

         K.       Accordingly, in order to facilitate the sale to Big M, as
                  described above, SCTN has requested Quint Star to provide a
                  release of any lien or encumbrance it may hold against the
                  3900 South Property.

         L.       Quint Star has agreed to furnish such a release, and otherwise
                  to resolve its current dispute with IC One and SCTN, on the
                  terms and conditions set forth below.

                                    AGREEMENT

         WHEREFORE, to these ends and for and in consideration of the terms and
conditions herein as set forth, as well as the mutual benefits to be derived
therefrom, and for good and valuable consideration, the parties hereto agree as
follows:

1.       The above Recitals are incorporated herein by reference, as material
         parts of their Agreement.

2.       Quint Star shall execute a Release of Judgment Lien ("Release"), in the
         form attached hereto as Exhibit B, of its lien, if any, against the
         3900 South Property, arising

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         by virtue of the Judgment. By executing the Release Quint Star does not
         intend to release the Judgment or any rights arising under the
         Judgment; it intends only to release any lien against the 3900 South
         Property.

3.       IC One shall execute and deliver to Quint Star a Security Agreement, in
         the form attached hereto as Exhibit C, to secure IC One's obligation to
         Quint Star pursuant to the Judgment.

4.       SCTN shall deliver to Quint Star a Continuing Unconditional Guaranty
         (the "Guaranty"), of IC One's obligation under the Judgment, in the
         form attached hereto as Exhibit D.

5.       SCTN shall also execute and deliver to Quint Star a Security Agreement,
         in the form attached hereto as Exhibit E, to secure SCTN's obligation
         to Quint Star pursuant to the Guaranty.

6.       IC One and Quint Star represent that the schedule of personal property
         attached hereto as Exhibit F describes personal property owned by IC
         One, all presently located at 3900 South Property.

7.       IC One and SCTN represent that the schedule of personal property
         attached hereto as Exhibit G is personal property owned by both IC One
         and SCTN, which is also presently located at the 3900 South Property.
         IC One and SCTN represent that the property marked with an asterisk (*)
         is owned by SCTN and that the remainder of the property on Exhibit G is
         owned by IC One.

8.       IC One and SCTN shall each also execute and deliver to Quint Star,
         UCC-1

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         financing statements in the form attached hereto as Exhibits H and I,
         so that Quint Star may perfect the security interests granted pursuant
         to the Security Agreements (Exhibits C and E), to be executed by IC One
         and SCTN.

9.       IC One shall satisfy its obligation under the Judgment by making
         monthly payments to Quint Star in the amount of $5000 per month. The
         first such payment shall be delivered to Quint Star or its legal
         counsel contemporaneously with the execution of this Agreement.
         Thereafter, payments shall be due and payable on the 1st day of each
         month, with the 2nd payment due and payable on May 1, 2001, and
         subsequent payments due and payable the 1st day of each month
         thereafter.

10.      In the event IC One timely makes the first two $5000 payments, as
         provided for in paragraph 9 above, Quint Star will cause the Writ of
         Execution, as described in paragraph C above to be vacated, and will
         not seek to enforce that Writ of Execution.

11.      All payments shall be applied first to accrued interest on the Judgment
         and then to the principal amount of the Judgment.

12.      The $5000 monthly payments provided for above shall continue until the
         Judgment has been paid in full.

13.      IC One and SCTN both recognize that Quint Star retains the right to
         seek augmentation of the amount of the Judgment in accordance with
         paragraph 3 of the Judgment.

14.      All payments required pursuant to this Agreement shall be made by
         cashier's check or other certified funds and shall be delivered to and
         received by Quint Star's agent, NAI Utah Commercial Property
         Management, 60 E. South Temple, Suite 1325,

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         Salt Lake City, UT  84111, no later than the due dates set forth above.

15.      In the event IC One fails to timely make any of the payments required
         under this Agreement, Quint Star shall provide notice of IC One's
         default to IC One, which shall then have five (5) business days
         following the notice to cure the default.

16.      In the event IC One fails to cure the default, Quint Star may then
         proceed against IC One and SCTN as follows:

                  a. Quint Star may exercise all its rights and remedies under
         the Security Agreement(s) executed by IC One and SCTN;

                  b. Quint Star may utilize all means available to it to collect
         the Judgment, including the issuance of a Writ of Execution in
         accordance with Rule 69, Utah Rules of Civil Procedure;

                  c. Quint Star may file suit against SCTN to enforce the
         Guaranty; and

                  d. Quint Star may exercise all other rights and remedies
         available to it to enforce the obligations IC One and SCTN pursuant to
         the Judgment and the Guaranty.

17.      The parties understand and acknowledge that, by entering into this
         Agreement to set forth the terms upon which IC One may make payments to
         satisfy its obligations under the Judgment, Quint Star does not intend
         to forfeit or relinquish any of its rights pursuant to the Judgment.
         Rather, the parties understand that, provided that IC One makes the
         payments required pursuant to this Agreement, Quint Star agrees that it
         will forbear from exercising its rights under the Judgment, as
         described herein.

18.      The parties also understand and agree that by entering into the
         Security Agreement with IC One (attached hereto as Exhibit C), Quint
         Star does not intend to

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         forfeit or relinquish any of its rights under the Judgment. Rather, the
         parties understand that, by entering into the Security Agreement and
         executing a UCC-1 financing statement, IC One is conveying rights to
         Quint Star to induce it to forbear (pending IC One's performance under
         this Agreement), from immediately exercising its right to collect the
         Judgment. In the event that IC One defaults in its payment obligations
         pursuant to this Agreement, Quint Star may then, in that event, proceed
         to exercise its rights to enforce the Judgment (including seeking the
         issuance of further Writs of Execution), pursuant to Rule 69, Utah
         Rules of Civil Procedure, and/or to enforce its rights under the
         Security Agreement entered into between Quint Star and IC One, attached
         hereto as Exhibit C.

19.      In the event of a default under this Agreement, the defaulting party
         shall pay all attorney's fees and costs incurred by the non-defaulting
         party in enforcing its rights and remedies under this Agreement.

20.      This Agreement and any issue arising under or relating to it shall be
         construed in all respects by the law of the State of Utah, without
         resort to its choice of laws or other conflicts of laws principles.

21.      All covenants, agreements, representations and warranties set forth in
         this Agreement shall be binding upon, and shall inure to the benefit of
         the parties hereto and their successors and assigns, heirs, executors,
         administrators and personal or legal representatives.

22.      This Agreement contains the entire understanding of the parties, and no
         other prior or contemporaneous agreement, statement, promise or conduct

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         (whether oral or written) by any party hereto shall have any legal
         force or effect or be used in any way to vary, explain, modify or
         abrogate any of the terms of this Agreement. All negotiations relating
         to this Agreement are hereby superseded.

23.      Each of the parties hereto acknowledges that he, she, or it (as the
         case may be) has obtained the advice of experienced legal counsel of
         their own choosing in connection with the negotiation and execution of
         this Agreement and with respect to all matters set forth in this
         Agreement or that otherwise relate to this Agreement. Furthermore, the
         parties acknowledge and agree that they have mutually contributed to
         the drafting of this Agreement. No provision of this Agreement shall be
         construed against any party on the ground that such party or its
         counsel drafted the provision at issue or that the provision at issue
         contains a covenant of such party.

24.      There are no third-party beneficiaries of or to this Agreement.

25.      The parties each covenant and agree to execute such documents as may
         reasonably be required to implement and carry out the intent of this
         Agreement.

26.      This Agreement may be executed in any number of duplicate originals and
         by different parties hereto in separate counterparts, each of which,
         when so executed and delivered, shall be deemed an original document,
         but all such duplicate originals and counterparts shall together
         constitute but one and the same agreement.

27.      In the event any party fails to strictly enforce any obligation of any
         other party to this Agreement, such failure to act shall not constitute
         or be deemed a waiver of the party's right to demand strict enforcement
         of that obligation thereafter.

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28.      Each of the undersigned warrants and represents that he has authority
         to execute this Agreement on behalf of the party on whose behalf he has
         executed the Agreement.

         DATED this ______ day of March, 2001.   QUINT STAR MANAGEMENT, INC.

                                                 By:/s/ J.J. Wang
                                                    ---------------------------
                                                    J. J. Wang, Its President

         DATED this 29th day of March, 2001.     IC ONE, INC.

                                                 By:/s/ Peter Bennee
                                                    ---------------------------
                                                    Peter Bennee, Its Secretary

         DATED this 29th day of March, 2001.     SCHIMATIC CASH TRANSACTIONS
                                                 NETWORK.COM, INC.

                                                 By:/s/ Peter Bennee
                                                    ---------------------------
                                                    Peter Bennee, Its Secretary

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EXHIBIT A

George W. Pratt (USB #2642)
JONES, WALDO, HOLBROOK & McDONOUGH Attorneys for
Plaintiff 1500 Wells Fargo Plaza 170 South Main Street
Post Office Box 45444
Salt Lake City, Utah 84145-0444
Telephone: (801) 521-3200

            IN THE THIRD JUDICIAL DISTRICT COURT OF SALT LAKE COUNTY

                                  STATE OF UTAH

QUINT STAR MANAGEMENT, INC.,

         Plaintiff,

vs.

IC ONE, INC.,

         Defendant.

JUDGMENT

Civil No. 990908764

Honorable Sandra Peuler

         This matter came on for trial on December 4, 2000, at 10:00 a.m. At the
trial the plaintiff, Quint Star Management, Inc., was represented by its
counsel, George W. Pratt, of Jones, Waldo, Holbrook & McDonough. The defendant,
IC One, Inc., did not appear at the trial, either through counsel or through any
other representative of defendant.

         At the trial the Court received plaintiff's proffer of the testimony of
Duncan Lambert and Trisha Tanner. It also received into evidence Plaintiff's
Exhibits 1 and 2, the Lease between the plaintiff and defendant, and the
accounting ledger showing the amount owed by defendant to

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<PAGE>

plaintiff pursuant to the Lease, as of the time of trial. The witnesses, who
were both present in the courtroom, stated under oath that the proffers
accurately reflected their testimony. The Court considers itself fully advised
with respect to the matters presented, and is of the opinion that judgment
should be entered in favor of the plaintiff and against the defendant, as set
forth below.

         Accordingly,

         IT IS HEREBY ORDERED, ADJUDGED AND DECREED as follows:

1.       Judgment is entered in favor of plaintiff Quint Star Management, Inc.
         against defendant IC One, Inc. in the amount of $50,541.03.

2.       Post-judgment interest shall accrue on the judgment at the rate of 24%
         per annum, as provided for in the Lease between the parties dated
         August 21, 1997 (the "Lease").

3.       This Judgment may be augmented from time to time hereafter, to add
         additional amounts of rent reserved, interest, late charges, and other
         amounts for which defendant becomes liable hereafter, pursuant to the
         Lease, plus reasonable costs and attorney's fees expended by plaintiff
         in collecting this Judgment by execution or otherwise, as shall be
         established by affidavit. Although this Judgment shall be immediately
         enforceable by the plaintiff, the Court shall retain jurisdiction of
         this matter to permit plaintiff to seek augmentation of the amount of
         the Judgment, as described above, through brief supplemental
         proceedings.

         DATED this 5 day of December, 2000.
                                                    /s/ Sandra Peuler
                                                    --------------------------
                                                    Honorable Sandra Peuler
                                                    Third District Court Judge

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Exhibit B

                            RELEASE OF JUDGMENT LIEN

         WHEREAS:

         A.       On or about December 5, 2000, a Judgment was entered in the
                  Third Judicial District Court of Salt Lake County, State of
                  Utah, in Quint Star Management, Inc. v. IC One, Inc., Civil
                  No. 990908764, in the amount of $50,541.03, plus interest and
                  other amounts as described in the Judgment (hereafter the
                  "Judgment").

         B.       The lien arising by virtue of the Judgment, pursuant to Utah
                  Code Ann. ss.ss. 78-22-1, et seq., may encumber certain real
                  property located at 740 East 3900 South, Salt Lake City, Utah
                  84107, which real property is more particularly described on
                  Exhibit A attached hereto.

         C.       IC One, Inc. ("IC One") and Schimatic Cash Transactions
                  Network.com, Inc. ("SCTN") have requested, in connection with
                  a Forbearance Agreement entered into among the parties of even
                  date herewith, for Quint Star to release its judgment lien, if
                  any, encumbering the above-referenced property.

         WHEREFORE, Quint Star hereby releases any judgment lien arising in its
favor against the property described on Exhibit A arising by virtue of the entry
of the Judgment. Quint Star reserves all other rights and remedies arising
pursuant to the Judgment.

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<PAGE>

         EXECUTED this ______ day of March, 2001.

                                               QUINT STAR MANAGEMENT, INC.

                                               By
                                                 -------------------------------
                                                   George W. Pratt, Its Attorney

STATE OF UTAH                               )
                                            :  ss.
COUNTY OF SALT LAKE                         )

         On the ______ day of March, 2001, personally appeared before me George
W. Pratt, the signer of the foregoing instrument, who duly acknowledged to me
that he is the attorney for Quint Star Management, Inc., that he is authorized
to execute this Release of Judgment Lien on behalf of Quint Star Management,
Inc., and that he executed the same.

                                                     NOTARY PUBLIC

                                                     Residing at:

My Commission Expires:

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Exhibit C

                               SECURITY AGREEMENT

         THIS SECURITY AGREEMENT is entered into effective as of March 26, 2001,
by and between Quint Star Management, Inc. and IC One, Inc.

                                    RECITALS

         WHEREAS:

         A.       Quint Star Management, Inc., ("Quint Star" or "Secured Party")
                  IC One, Inc. ("IC One" or "Debtor"), and Schimatic Cash
                  Transactions Network.com, Inc. ("SCTN") have entered into, or
                  will enter into contemporaneously herewith, a Forbearance
                  Agreement, setting forth the terms upon which Quint Star will
                  forbear from exercising its rights under that certain Judgment
                  that has been entered in favor of Quint Star against IC One,
                  as referred to in the Forbearance Agreement.

         B.       Under the terms of the Forbearance Agreement, IC One is
                  obligated to make payments to satisfy the Judgment, as
                  described in the Forbearance Agreement. The total obligation
                  owed by IC One to Quint Star pursuant to the Judgment, and as
                  described in the Forbearance Agreement, is referred to
                  hereafter as the "Indebtedness."

         C.       In connection with the Forbearance Agreement, Quint Star has
                  requested of IC One, and IC One has agreed, to convey to Quint
                  Star a security interest in all IC One's personal property.

         NOW, THEREFORE, Quint Star and IC One agree as follows:

                  1.       To secure the payment of the Indebtedness, IC One
                           hereby grants

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<PAGE>

                           to Quint Star a security interest in all IC One's
                           goods (including but not limited to equipment and
                           furniture), inventory, accounts, and chattel paper,
                           whether now owned or hereafter acquired, and all
                           proceeds of the foregoing (hereafter collectively the
                           "Collateral"). The Collateral includes, but is not
                           necessarily limited to all the property described on
                           Exhibit 1 attached hereto, and all the property
                           described on Exhibit 2 attached hereto (with the
                           exceptions of those items on Exhibit 2 marked with an
                           asterisk (*).

                  2.       IC One represents that all The Collateral is
                           currently located at the business premises of SCTN,
                           at 740 East 3900 South, Salt Lake City, Utah.

                  3.       IC One warrants and represents that it shall not move
                           any of the Collateral from the 3900 South property
                           without the prior written consent of Quint Star.

                  4.       The Debtor agrees to execute contemporaneously
                           herewith, in a form satisfactory to Secured Party, a
                           UCC-1 financing statement, to be filed by Secured
                           Party to provide public notice of the existence of
                           the security interest created by this Security
                           Agreement.

                  5.       The Debtor shall be in default under this Security
                           Agreement upon the occurrence of any one or more of
                           the following events:

                           a.       The Debtor shall fail to pay when due the
                                    Indebtedness, or any part of the
                                    Indebtedness, secured by this Security
                                    Agreement; or

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<PAGE>

                           b.       The Debtor shall fail to comply in any
                                    respect with any provision contained in this
                                    Security Agreement.

                  6.       Upon the occurrence of any event of default as
                           described in the preceding paragraph, the Secured
                           Party shall have the following rights:

                           a.       Secured Party may declare the entire
                                    Indebtedness secured by this Security
                                    Agreement immediately due and payable; and

                           b.       Secured Party shall have the rights and
                                    remedies of a secured party under the Utah
                                    Uniform Commercial Code, including the right
                                    to sell, lease, or otherwise dispose of any
                                    or all of the Collateral in any manner
                                    allowed by the Utah Uniform Commercial Code.

                  7.       The remedies of Secured Party are cumulative, and the
                           exercise or partial exercise of any one or more of
                           the remedies provided for herein shall not be
                           construed as a waiver of any of the other remedies of
                           Secured Party. No delay by Secured Party in
                           exercising any power or right shall operate as a
                           waiver of such right.

                  8.       This Security Agreement and any issue arising under
                           or relating to it shall be construed in all respects
                           by the law of the State of Utah, without resort to
                           its choice of laws or other conflicts of laws
                           principles.

                  9.       All covenants, agreements, representations and
                           warranties set forth in this Security Agreement shall
                           be binding upon, and shall inure to the benefit of
                           the parties hereto and their successors and assigns,
                           heirs,

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<PAGE>

                           executors, administrators and personal or legal
                           representatives.

                  10.      This Security Agreement contains the entire
                           understanding of the parties, and no other prior or
                           contemporaneous agreement, statement, promise or
                           conduct (whether oral or written) by any party hereto
                           shall have any legal force or effect or be used in
                           any way to vary, explain, modify or abrogate any of
                           the terms of this Security Agreement. All
                           negotiations relating to this Security Agreement are
                           hereby superseded.

                  11.      Each of the parties hereto acknowledges that he, she,
                           or it (as the case may be) has obtained the advice of
                           experienced legal counsel of their own choosing in
                           connection with the negotiation and execution of this
                           Security Agreement and with respect to all matters
                           set forth in this Security Agreement or that
                           otherwise relate to this Security Agreement.
                           Furthermore, the parties acknowledge and agree that
                           they have mutually contributed to the drafting of
                           this Security Agreement. No provision of this
                           Security Agreement shall be construed against any
                           party on the ground that such party or its counsel
                           drafted the provision at issue or that the provision
                           at issue contains a covenant of such party.

                  12.      There are no third-party beneficiaries of or to this
                           Security Agreement.

                  13.      The parties each covenant and agree to execute such
                           documents as may reasonably be required to implement
                           and carry out the intent of this Security Agreement.

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<PAGE>

                  14.      This Security Agreement may be executed in any number
                           of duplicate originals and by different parties
                           hereto in separate counterparts, each of which, when
                           so executed and delivered, shall be deemed an
                           original document, but all such duplicate originals
                           and counterparts shall together constitute but one
                           and the same agreement.

                  15.      In the event any party fails to strictly enforce any
                           obligation of any other party to this agreement, such
                           failure to act shall not constitute or be deemed a
                           waiver of the party's right to demand strict
                           enforcement of that obligation thereafter.

         DATED this ______ day of March, 2001.
                                                  QUINT STAR MANAGEMENT, INC.

                                                  By:
                                                     ---------------------------
                                                     J. J. Wang, Its President

         DATED this _______ day of March, 2001.

                                                  IC ONE, INC.

                                                  By
                                                    ----------------------------
                                                     Peter Bennee, Its Secretary

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<PAGE>

                                  Exhibit 1 to
                               Security Agreement

   [Description of furniture and office equipment, with quantity and location]

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<PAGE>

                                  Exhibit 2 to
                               Security Agreement

            [Description of computer equipment and office furniture]

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<PAGE>

Exhibit D

                        CONTINUING UNCONDITIONAL GUARANTY
                OF SCHIMATIC CASH TRANSACTIONS NETWORK.COM, INC.

         1. UNCONDITIONAL GUARANTY. For valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, and as a necessary inducement to
QUINT STAR MANAGEMENT, INC. to enter into that certain Forbearance Agreement
entered into effective as of March 20, 2001("the Forbearance Agreement"), by and
between Quint Star Management, Inc. ("Quint Star"), IC One, Inc. ("IC One"), and
Schematic Cash Transactions Network.Com, Inc. (hereafter "Guarantor"), Guarantor
enters into this Continuing Unconditional Guaranty ("Guaranty") and, pursuant to
the terms and conditions herein, unconditionally and absolutely guaranties to
Quint Star the due and punctual payment and performance of any and all
Indebtedness (as defined below) of IC One to Quint Star. This Guaranty is
continuing and absolute and is not subject to any condition. This is a
continuing guaranty of all of the Indebtedness as described below.

         2. DEFINITION OF INDEBTEDNESS. The word "Indebtedness" as used herein
refers to the obligation of IC One to Quint Star under the Judgment entered on
or about December 5, 2001, in favor of Quint Star against IC One, in Quint Star
Management, Inc. v. IC One, Inc., Civil No. 990908764 in the Third Judicial
District Court of Salt Lake County, State of Utah. A true and correct copy of
the Judgment is attached hereto.

         3. REVOCATION, MODIFICATION, AND AMENDMENT. This Guaranty cannot be
waived, abandoned, terminated, released, amended, or modified in any way, except
by a specific written instrument signed by Quint Star.

         4. NATURE OF GUARANTOR'S OBLIGATIONS. Guarantor's obligations are
independent of the obligations of IC One. Guarantor's obligations are also
independent of the obligations of any other guarantor of the obligations of IC
One. Quint Star may bring and prosecute a separate action or actions against
Guarantor at any time, regardless of whether action is or has been brought
against IC One, or any other guarantor. This Guaranty is a guaranty of payment
and performance and not of collectibility or collection.

         5. GUARANTOR'S AUTHORIZATIONS. Guarantor authorizes Quint Star, without
notice or demand and without affecting Guarantor's liability hereunder, from
time to time, to (a) renew, compromise, extend, or change the terms of the
Indebtedness or any part thereof, or enter into additional or different
agreements with IC One; (b) compromise disputes with IC One, any other
Guarantor, or with anyone acting on behalf of IC One, including, without
limitation, a trustee in bankruptcy, liquidation, or reorganization of IC One,
other trustees, receivers, assignees for the benefit of creditors, or agents of
IC One; (c) take and hold security for the payment of this Guaranty or the
Indebtedness and exchange, enforce, waive, impair or release any or all such
security; and (d) apply any payments received and the proceeds of any security,
and direct the order or manner of sale of such security, as Quint Star, in its
discretion, may determine. Quint Star may, without notice, assign this Guaranty
in whole or in part.

         6. GUARANTOR'S WAIVERS.

                  (a) Election of Remedies. Guarantor waives any right to
         require Quint Star to (i) proceed against IC One or any other guarantor
         of the obligations of IC One; (ii) proceed against or exhaust any
         security obtained by Quint Star from IC One or Guarantor; (iii) proceed
         against IC One in a timely manner; or (iv) pursue any other remedy in
         Quint Star's power whatsoever. Without limitation, Guarantor agrees not
         to assert any right or defense

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<PAGE>

         under Utah Code Annotated Section 78-37-1 (one-action rule) and Utah
         Code Annotated Section 57-1-32 to 34 (limitations on deficiency
         judgments) and any successor provisions to these statutes.

                  (b) Defenses of IC One. Guarantor waives any right to assert
         any claim, defense, counterclaim, and setoff, other than prior
         performance, that IC One may have or assert against Quint Star. This
         waiver includes, without limitation, Guarantor's waiver of any right to
         assert any defense arising by reason of: (i) any disability of IC One;
         (ii) any conduct or omission of Quint Star in enforcing or failing to
         enforce any provision of any agreement between IC One and Quint Star;
         (iii) any tort, contract, or other claim of IC One (including, without
         limitation, lender liability, fraud, accord and satisfaction, bad
         faith, usury, equitable subordination, and interference with contract);
         and (iv) the cessation for any cause whatsoever of the liability of IC
         One to Quint Star. Guarantor waives the benefit of any statute of
         limitations affecting Guarantor's liability hereunder or the
         enforcement hereof.

                  (c) Subrogation and Indemnity. Until the Indebtedness has been
         paid in full, Guarantor waives any right: (i) to enforce any indemnity
         Guarantor has or may have under any agreement or law against IC One;
         (ii) to enforce any remedy Guarantor has or may have against IC One;
         and (iii) to participate in, or benefit from, any security for the
         Indebtedness or this Guaranty now or hereafter held by Quint Star. If
         any bankruptcy proceeding is filed at any time by or against IC One,
         and if the Indebtedness is not at that time fully paid or fully
         secured, each Guarantor waives any claim such Guarantor may have
         against IC One as a creditor or holder of a claim.

                  (d) Notices. Guarantor waives all presentments, demands for
         performance, notices of nonperformance, protests, notices of dishonor,
         and notices of acceptance of this Guaranty.

         7. GUARANTOR'S RELEASE OF QUINT STAR. In exchange for the consideration
recited in this Guaranty, the Guarantor hereby waives, releases and forever
discharges Quint Star and all of its parent, subsidiary and affiliated
corporations and entities, and their respective former and present agents,
employees, officers, directors, shareholders, and attorneys from any and all
rights, claims, demands, actions, causes of action, proceedings, liability,
damages, injuries, losses, fees, costs, expenses, and sums of money, of whatever
kind or nature, whether in law or in equity, which the Guarantor may now have.
Guarantor acknowledges that Quint Star has in fact relied on this release as a
condition to entering into the Forbearance Agreement. Guarantor does not waive,
release or discharge any rights or claims that may arise after the date of this
Guaranty.

         8. SUBORDINATION. All debts, obligations, and liabilities of IC One now
or hereafter held by Guarantor (collectively, "Guarantor's Claims") are hereby
subordinated to the Indebtedness. Upon Quint Star's request, Guarantor will
collect, enforce, and receive any or all of Guarantor's Claims as trustee for
Quint Star and pay the proceeds over to Quint Star on account of the
Indebtedness without reducing or affecting in any manner the liability of
Guarantor under the other provisions of this Guaranty.

         9. LIENS AND SETOFF. In addition to all liens and rights of setoff
given to Quint Star by law, Quint Star is hereby given a lien upon and a right
of setoff against all moneys, securities, and other property of Guarantor now or
hereafter in the constructive or actual possession of or on deposit with Quint
Star, whether held in general or special accounts, for safekeeping or otherwise.

                                        2
<PAGE>

         10. MISCELLANEOUS PROVISIONS.

                  (a) Change of Name or Form. The liability of Guarantor is not
         excused or limited by a change in the name of IC One or a change in the
         form of IC One by reason of merger, acquisition, or consolidation, or
         by a change in the type or nature of business carried on by IC One, or
         by any sale, lease, or transfer of any or all of the assets or stock of
         IC One.

                  (b) Costs and Fees. Guarantor will pay to Quint Star
         reasonable attorneys' fees and all other costs and expenses which may
         be incurred by Quint Star in the enforcement of this Guaranty, whether
         or not any court action is involved, including, without limitation,
         legal expenses in connection with bankruptcy, appeals, and
         post-judgment collection services.

                  (c) Successors. This Guaranty is binding on Guarantor, and its
         legal representatives, assigns, and successors in interest the same as
         if Guarantor had contracted for payment of the Indebtedness rather than
         IC One.

                  (d) Construction. The obligations of this Guaranty shall be
         liberally construed to effectuate the purpose of providing an absolute
         and unconditional guaranty to Quint Star or its order as to all
         Indebtedness. This Guaranty is made in and shall be governed by the
         laws of the State of Utah. Guarantor hereby submits to the jurisdiction
         of any state or federal court in the State of Utah. Whenever possible,
         each provision of this Guaranty shall be interpreted in such a manner
         as to be effective and valid under applicable law, but if any provision
         of this Guaranty is prohibited by or invalid under such law, such
         provision is ineffective to the extent of such prohibition or
         invalidity, without invalidating the remainder of such provision or the
         remaining provisions of this Guaranty.

         IN WITNESS WHEREOF, Guarantor has executed this Guaranty as of this
______ day of March, 2001.

                                               SCHIMATIC CASH TRANSACTIONS
                                               NETWORK.COM, INC.

                                               By
                                                 -----------------------------
                                                 Peter Bennee, Its Secretary

                                        3
<PAGE>

Exhibit E

                               SECURITY AGREEMENT

         THIS SECURITY AGREEMENT is entered into effective as of March 26, 2001,
by and between Quint Star Management, Inc. and Schimatic Cash Transactions
Network.com, Inc.

                                    RECITALS

         WHEREAS:

         A.       Quint Star Management, Inc. ("Quint Star" or "Secured Party"),
                  IC One, Inc.("IC One"), and Schimatic Cash Transactions
                  Network.com, Inc. ("SCTN" or "Debtor") have entered into, or
                  will enter into contemporaneously herewith, a Forbearance
                  Agreement, setting forth the terms upon which Quint Star will
                  forbear from exercising its rights under that certain Judgment
                  that has been entered in favor of Quint Star against IC One,
                  as referred to in the Forbearance Agreement.

         B.       Under the terms of the Forbearance Agreement, IC One is
                  obligated to make payments to satisfy the Judgment, as
                  described in the Forbearance Agreement.

         C.       In connection with the Forbearance Agreement, Quint Star has
                  requested of IC One, and IC One has agreed, to convey to Quint
                  Star a security interest in all IC One's personal property.

         D.       Pursuant to the Forbearance Agreement SCTN has executed, or
                  intends to execute, contemporaneously herewith, a Continuing
                  Unconditional Guaranty (hereafter the "Guaranty"). The total
                  obligation owed by SCTN to Quint Star pursuant to the Guaranty
                  is referred to hereafter as the "Indebtedness".

                                       -1-
<PAGE>

         E.       Quint Star has requested SCTN to secure the Indebtedness owed
                  pursuant to the Guaranty by conveying to Quint Star a security
                  interest in all SCTN's personal property, as described below.

         NOW, THEREFORE, Quint Star and SCTN agree as follows:

                  1.       To secure the payment of the Indebtedness, SCTN
                           hereby grants to Quint Star a security interest in
                           all SCTN's goods (including but not limited to
                           equipment and furniture), inventory, accounts, and
                           chattel paper, whether now owned or hereafter
                           acquired, and all proceeds of the foregoing
                           (hereafter collectively the "Collateral"). The
                           Collateral includes, but is not necessarily limited
                           to all the property described on Exhibit 1 attached
                           hereto, that is marked with an asterisk (*).

                  2.       SCTN represents that all the Collateral is currently
                           located at the business premises of SCTN, at 740 East
                           3900 South, Salt Lake City, Utah.

                  3.       SCTN warrants and represents that it shall not move
                           any of the Collateral from the 3900 South Property
                           without the prior written consent of Quint Star.

                  4.       The Debtor agrees to execute contemporaneously
                           herewith, in a form satisfactory to Secured Party, a
                           UCC-1 financing statement, to be filed by Secured
                           Party to provide public notice of the existence of
                           the security interest created by this Security
                           Agreement.

                  5.       The Debtor shall be in default under this Security
                           Agreement upon the occurrence of any one or more of
                           the following events:

                                       -2-
<PAGE>

                           a.       IC One shall fail to pay when due any
                                    payment that is owed under the Forbearance
                                    Agreement; or

                           b.       The Debtor shall fail to comply in any
                                    respect with any provision contained in this
                                    Security Agreement.

                  6.       Upon the occurrence of any event of default as
                           described in the preceding paragraph, the Secured
                           Party shall have the following rights:

                           a.       Secured Party may declare the entire
                                    Indebtedness secured by this Security
                                    Agreement immediately due and payable; and

                           b.       Secured Party shall have the rights and
                                    remedies of a secured party under the Utah
                                    Uniform Commercial Code, including the right
                                    to sell, lease, or otherwise dispose of any
                                    or all of the Collateral in any manner
                                    allowed by the Utah Uniform Commercial Code.

                  7.       The remedies of Secured Party are cumulative, and the
                           exercise or partial exercise of any one or more of
                           the remedies provided for herein shall not be
                           construed as a waiver of any of the other remedies of
                           Secured Party. No delay by Secured Party in
                           exercising any power or right shall operate as a
                           waiver of such right.

                  8.       This Security Agreement and any issue arising under
                           or relating to it shall be construed in all respects
                           by the law of the State of Utah, without resort to
                           its choice of laws or other conflicts of laws
                           principles.

                                       -3-
<PAGE>

                  9.       All covenants, agreements, representations and
                           warranties set forth in this Security Agreement shall
                           be binding upon, and shall inure to the benefit of
                           the parties hereto and their successors and assigns,
                           heirs, executors, administrators and personal or
                           legal representatives.

                  10.      This Security Agreement contains the entire
                           understanding of the parties, and no other prior or
                           contemporaneous agreement, statement, promise or
                           conduct (whether oral or written) by any party hereto
                           shall have any legal force or effect or be used in
                           any way to vary, explain, modify or abrogate any of
                           the terms of this Security Agreement. All
                           negotiations relating to this Security Agreement are
                           hereby superseded.

                  11.      Each of the parties hereto acknowledges that he, she,
                           or it (as the case may be) has obtained the advice of
                           experienced legal counsel of their own choosing in
                           connection with the negotiation and execution of this
                           Security Agreement and with respect to all matters
                           set forth in this Security Agreement or that
                           otherwise relate to this Security Agreement.
                           Furthermore, the parties acknowledge and agree that
                           they have mutually contributed to the drafting of
                           this Security Agreement. No provision of this
                           Security Agreement shall be construed against any
                           party on the ground that such party or its counsel
                           drafted the provision at issue or that the provision
                           at issue contains a covenant of such party.

                  12.      There are no third-party beneficiaries of or to this
                           Security Agreement.

                                       -4-
<PAGE>

                  13.      The parties each covenant and agree to execute such
                           documents as may reasonably be required to implement
                           and carry out the intent of this Security Agreement.

                  14.      This Security Agreement may be executed in any number
                           of duplicate originals and by different parties
                           hereto in separate counterparts, each of which, when
                           so executed and delivered, shall be deemed an
                           original document, but all such duplicate originals
                           and counterparts shall together constitute but one
                           and the same agreement.

                  15.      In the event any party fails to strictly enforce any
                           obligation of any other party to this agreement, such
                           failure to act shall not constitute or be deemed a
                           waiver of the party's right to demand strict
                           enforcement of that obligation thereafter.

         DATED this ______ day of March, 2001.
                                                  QUINT STAR MANAGEMENT, INC.

                                                  By:
                                                     ---------------------------
                                                      J. J. Wang, Its President

         DATED this _______ day of March, 2001.

                                                  SCHIMATIC CASH TRANSACTIONS
                                                  NETWORK.COM, INC.

                                                  By____________________________
                                                     Peter Bennee, Its Secretary

                                       -5-
<PAGE>

                                  Exhibit 1 to
                               Security Agreement

   [Description of furniture and office equipment, with quantity and location]

                                       -6-
<PAGE>

                                  Exhibit 2 to
                               Security Agreement

            [Description of computer equipment and office furniture]

                                       -7-
<PAGE>

                                   Exhibit F

   [Description of furniture and office equipment, with quantiy and location]

<PAGE>

                                   Exhibit G

            [Description of computer equipment and office furniture]

<PAGE>

Exhibit H
<TABLE>
<CAPTION>
                                    EXHIBIT A
                                Loan No. 2429zv

                                  STANDARD FORM
           UNIFORM COMMERCIAL CODE - FINANCING STATEMENT - FORM UCC-1

------------------------------------------------------------------------------------------------------------------------------------
<S>                                                <C>                                                <C>
This FINANCING STATEMENT is presented to a filing officer for filing pursuant to                    |
    the Uniform Commercial Code.                                                                    |
--------------------------------------------------------------------------------------------------  |
1.  Debtor(s) (Last Name First) and address(es)    2.  Secured Party(ies) and address(es)           |
                                                                                                    |
     IC One, Inc.                                      Quint Star Management, Inc.                  |
     740 East 3900 South                               c/o NAI Utah Commercial Property Management  |
     Salt Lake City, UT  84107                         60 East South Temple, Suite 1325             |
                                                       Salt Lake City, UT  84111                    |
Social Security or _____________                                                                    |
Emp. Fed. I.D. No.   84-1394261                                                                     |
                  -------------                                                                     |
--------------------------------------------------------------------------------------------------  |
4.  This Financing Statement covers the following                                                   |
    types (or items) of property:                                             6.  Gross Sales price |For Filing Officer (Date, Time,
                                                                                  of collateral     |Number, and Filing Office)
All goods (including but not limited to equipment and furniture),                                   |-------------------------------
inventory, accounts, and chattel paper, whether now owned or hereafter        $____________________ |
acquired, and all proceeds of the foregoing, including but not limited                              |
to the equipment and furniture described on Exhibit 1 attached hereto.        $______________ Sales |
                                                                                                    |
The Secured party is _____ is not _____ a seller or                           or use tax paid to    |5. Assignee(s) of Secured Party
Purchase money lender of the collateral                                       State of              |    and Address(es)
------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                  |
                                                                                                                  |
This statement is filed without the debtor's signature to perfect a security interest in collateral (Check if so) |  Microfilm No.
___________________________________________________________________________________________________               |
                                                                                                                  |
already subject to a security interest in another jurisdiction when it was brought into this state.               |
___________________________________________________________________________________________________               |
                                                                                                                  |
which is proceeds of the original collateral described above in which a security interest was perfected.          |
________________________________________________________________________________________________________          |
                                                                                                                  |
------------------------------------------------------------------------------------------------------------------------------------
Check if covered:   [ ]Proceeds of Collateral are also covered.
                                                    [ ] Products of Collateral are also covered. No. of additional Sheets presented:

____________________________________________________________________________________________________________________________________

3.  Maturity date (if any):                                                 Approved by Division of Corporation and Commercial Code,
                                                                            Department of Business Regulations.

------------------------------------------------------------------------------------------------------------------------------------

By:______________________________________________                           By:_____________________________________________________
   Signature of Debtor:  Peter Bennee, Secretary                               Signature of Secured Party:  J.J. Wang, President

------------------------------------------------------------------------------------------------------------------------------------

                                                         STANDARD FORM - FORM UCC-1

                          Exhibit 1 contains a list of furniture, office equipment and computer equipment
</TABLE>
<PAGE>

Exhibit I
<TABLE>
<CAPTION>
                                    EXHIBIT A
                                Loan No. 2429zv

                                  STANDARD FORM
           UNIFORM COMMERCIAL CODE - FINANCING STATEMENT - FORM UCC-1

------------------------------------------------------------------------------------------------------------------------------------
<S>                                                <C>                                                <C>
This FINANCING STATEMENT is presented to a filing officer for filing pursuant to                    |
    the Uniform Commercial Code.                                                                    |
--------------------------------------------------------------------------------------------------  |
1.  Debtor(s) (Last Name First) and address(es)    2.  Secured Party(ies) and address(es)           |
                                                                                                    |
     Schimatic Cash Transactions Network.Com, Inc.     Quint Star Management, Inc.                  |
     740 East 3900 South                               c/o NAI Utah Commercial Property Management  |
     Salt Lake City, UT  84107                         60 East South Temple, Suite 1325             |
                                                       Salt Lake City, UT  84111                    |
Social Security or _____________                                                                    |
Emp. Fed. I.D. No.   88-0415947                                                                     |
                  -------------                                                                     |
--------------------------------------------------------------------------------------------------  |
4.  This Financing Statement covers the following                                                   |
    types (or items) of property:                                             6.  Gross Sales price |For Filing Officer (Date, Time,
                                                                                  of collateral     |Number, and Filing Office)
All goods (including but not limited to equipment and furniture),                                   |-------------------------------
inventory, accounts, and chattel paper, whether now owned or hereafter        $____________________ |
acquired, and all proceeds of the foregoing, including but not limited                              |
to the equipment and furniture described on Exhibit 1 attached hereto.        $______________ Sales |
                                                                                                    |
The Secured party is _____ is not _____ a seller or                           or use tax paid to    |5. Assignee(s) of Secured Party
Purchase money lender of the collateral                                       State of              |    and Address(es)
------------------------------------------------------------------------------------------------------------------------------------
This statement is filed without the debtor's signature to perfect a security interest in collateral (Check if so) |  Microfilm No.
___________________________________________________________________________________________________               |
                                                                                                                  |
already subject to a security interest in another jurisdiction when it was brought into this state.               |
___________________________________________________________________________________________________               |
                                                                                                                  |
which is proceeds of the original collateral described above in which a security interest was perfected.          |
________________________________________________________________________________________________________          |
                                                                                                                  |
------------------------------------------------------------------------------------------------------------------------------------
Check if covered:   [ ]Proceeds of Collateral are also covered.
                                                    [ ] Products of Collateral are also covered. No. of additional Sheets presented:

____________________________________________________________________________________________________________________________________

3.  Maturity date (if any):                                                 Approved by Division of Corporation and Commercial Code,
                                                                            Department of Business Regulations.

------------------------------------------------------------------------------------------------------------------------------------

By:______________________________________________                           By:_____________________________________________________
   Signature of Debtor:  Peter Bennee, Secretary                               Signature of Secured Party:  J.J. Wang, President

------------------------------------------------------------------------------------------------------------------------------------

                                                         STANDARD FORM - FORM UCC-1

                          Exhibit 1 contains a list of furniture, office equipment and computer equipment
</TABLE>Exhibit 10.23

                                ePAYMENT ALLIANCE

                           MEMORANDUM OF UNDERSTANDING

This Memorandum of Understanding ("MOU") for an Alliance to develop and market
an electronic payment solution is effective April 1st, 2001 (the "Effective
Date") by and between each of:

1.       CARDIS Enterprises International B.V., with its head office at
         Koningslaan 34, 1075 AD Amsterdam, The Netherlands ("CARDIS")

2.       CIT Canada Inc., a wholly owned subsidiary of Silverline Technologies,
         Inc, with its head office at 240 Duncan Mill Rd. North York, Ontario
         Canada M3C 3N6. ("CIT")

3.       Giesecke & Devrient Systems Canada, Inc, with its office at 399 Denison
         Street, Markham, Ontario Canada L3R 1B7. ("G&D")

4.       Ingenico, with its head office at 9, Quai De Dion Bouton, 92816 Puteaux
         Cedex, France ("Ingenico" )

5.       Oasis Technology Ltd., with its head office at 90 Sheppard Ave. East,
         Suite 100, Toronto, Ontario Canada M2N 6N5. ("Oasis")

6.       Schimatic Cash Transactions Network.com, Inc. doing business as Smart
         Chip Technology [initialed and dated 5/1/01] Technologies, with its
         head office at 740 East 3900 South, Salt Lake City, UT, USA 84107.
         ("SCTN") Inc.

Each of CARDIS, CIT, G&D, Ingenico, Oasis, and SCTN are referred to herein
individually as a "Party" and collectively as the "Parties".

WHEREAS:

A.       Each of the Parties is in the business of supplying goods and/or
         services relating electronic payment solutions;

B.       The Parties wish to collaborate and jointly develop and market enhanced
         end-to-end electronic payment solutions based on the combined expertise
         and proprietary technologies of each of the Parties;

C.       The Parties wish to undertake some preliminary research to determine
         whether there exists: (i) a viable market for such enhanced end-to-end
         electronic payment solutions and (ii) a basis for establishing a formal
         joint venture amongst the Parties; and

D.       The Parties wish to outline some general principles upon which the
         Parties will cooperate during the development and marketing of such
         solution, and if the Parties determine that there is a basis for
         establishing a formal arrangement, the form and general principles of
         such a formal arrangement.

NOW THEREFORE, IN CONSIDERATION of the mutual benefits to be derived from this
MOU, the Parties agree as follows:

1        PURPOSE

1.1      The purpose of this MOU is to outline the principles upon which an
         alliance will be created for the development and marketing of an
         end-to-end payment solution for micropayments (the "Alliance Solution")
         based on a multi-application smart card. The Alliance Solution will be

<PAGE>

         Internet capable and offer a complete payment solution that integrates
         traditional card payments with loyalty programs and micro payments,
         i.e., amounts less than $25.00, as well as merchant, acquiring, issuing
         and settlement functionality in the physical, virtual, and mobile
         worlds of commerce.

1.2      The Parties will co-operate in:

         a)       the marketing and sales activities related to the Alliance
                  Solution;.

         b)       the continued development and support of the Alliance
                  Solution;

         c)       the initial rollout and related marketing activities in North
                  America; and

         d)       the subsequent rollout of the Alliance Solution in other
                  regions of the world.

2.       THE ALLIANCE SOLUTION

2.1      The Alliance Solution shall be comprised of the following components
         from each respective Party (as mutually agreed by the steering
         committee) as follows (each a "Component" and collectively, the
         "Components"):

         2.1.1    CARDIS may provide its proprietary smart card based
                  micro-payment system, including patented methodology and any
                  unique software required for running its system, including
                  development of interface specifications to the other
                  components as required to interface with Cardis' intellectual
                  property.

         2.1.2    CIT may provide the PKI security server and professional
                  services associated with co-project management, systems
                  design, onshore/offshore development, testing and overall
                  systems integration. This will include some or all of the
                  following:

                  (i)      G&D smart card security, into the Oasis Payment
                           system including the G&D security client and CIT
                           security server;

                  (ii)     SCTN loyalty system with the terminals, the G&D chip
                           cards and the Oasis system;

                  (iii)    the CARDIS micro-payment system with the terminals,
                           the G&D chip cards and the Oasis system.

         2.1.3    G&D may provide the Smart card security that includes PKI
                  card applications, PC card readers, Card Operating System,
                  card production and fulfillment, and Certificate Authority
                  functionality.

         2.1.4    Ingenico may provide smart card reader/writer card accepting
                  devices, security expertise on smart card and e-commerce
                  solutions, a terminal estate management system, and associated
                  terminal testing tools for application development.

         2.1.5    Oasis may provide the base payment system that includes IST/
                  Switch, eMerchant, Merchant Accounting, Issuing Card
                  Accounting, iSeries and the Oasis Internet Banking adapters,
                  and related modules. Oasis will act as lead architect and
                  overall integration designer.

         2.1.6    SCTN may provide its proprietary smart card-based loyalty
                  program, including patented methodology and any unique
                  software required for running its system in support of its
                  program, including development of interface specifications to

                                       2
<PAGE>

                  the other components as required to interface with SCTN
                  intellectual property. SCTN will also provide loyalty program
                  management services through its loyalty backend processing
                  system known as "Loyalty Central".

3. BRAND NAME AND INTELLECTUAL PROPERTY

3.1      In order to build brand name distinctiveness and add value to the
         Alliance Solution, the Parties shall within 60 days of the Effective
         Date of this MOU, agree to a brand name and corresponding mark for the
         Alliance Solution (the "Brand Name"). The Brand Name shall be
         beneficially owned by the Parties and will be the sole name or mark
         under which each Party shall market the Alliance Solution.

3.2      The Parties acknowledge that in the process of developing the Alliance
         Solution and integrating the Components, technologies may be created to
         which new intellectual property rights ("New IP Rights") will attach.
         The Parties agree that any such New IP Rights will be owned by the
         Party or Parties that created the technology until such Party or
         Parties agree to transfer these rights to the legal entity ("Alliance
         Co."), in which each Party will have an ownership interest, when it is
         formed. The above is not applicable to any intellectual property rights
         that a Party has in its existing Components.

3.3      The IP Rights, including Brand Name, will become assets of Alliance Co.

4.       COMMERCIAL AGREEMENT

4.1      Within 90 days of the Effective Date of this Agreement, the Parties
         shall enter into a commercial agreement (the "Agreement") which shall
         include without limitation, standard terms for agreements of this
         nature and the following:

         4.1.1    Subject to agreement on cross-licensing and/or sublicensing
                  terms, a grant by each Party to each of the other Parties, or
                  Alliance Co. when it is formed, of (i) a non-exclusive,
                  limited, world-wide license to market, distribute and
                  sub-license such Party's Components for use solely with the
                  Alliance Solution under the Brand Name and (ii) a
                  non-exclusive, fully paid-up, world-wide, license to use the
                  Brand Name solely in conjunction with the Components.

         4.1.2    Terms and conditions for the use of the Brand Name including
                  without limitation, prohibiting the marketing of individual
                  Components under the Brand Name as well as technical
                  specifications for use of the Brand Name.

         4.1.3    Provision for each Party to retain ownership of its respective
                  Components that are proprietary to such Party and are in part
                  or holistically required for the Alliance Solution.

         4.1.4    Provisions for the registration of the Brand Name as a serial
                  or trademark and any applicable Internet domain name
                  registration including the following: "Alliance Co. or Oasis
                  (in the case Alliance Co. has yet to be created) will, to the
                  extent possible on a commercially reasonable basis, register,
                  trademark and maintain the Brand Name on behalf of the
                  Partners, including but not limited to all necessary Internet
                  domain name registrations to protect the Parties' rights in
                  locations agreed by the Parties. The Parties agree to share
                  the cost of such registration, trademark and maintenance of
                  the Brand Name equally. Each Party agrees to pay its share to
                  Alliance Co. or Oasis promptly upon receipt of Alliance Co.'s
                  or Oasis's invoice. The Parties agree that Oasis will have no
                  responsibility to defend an application to register or have
                  any liability whatsoever for any failure to register,

                                       3
<PAGE>

                  trademark and maintain the Brand Name. In the event the Brand
                  Name is registered by Oasis, the registration shall be
                  transferred to Alliance Co. once Alliance Co. has been
                  created."

         4.1.5    Provision for the ownership of the Brand Name by the Parties
                  in equal proportionate shares and rights to use the Brand Name
                  upon termination of the Agreement.

         4.1.6    Terms and conditions for the sale or cross-licensing of
                  Components by the Parties, which may include without
                  limitation, a discount of up to 20% on the Components, or some
                  other type of preferred status to each of the other Parties,
                  or Alliance Co when it is formed as well as pricing for the
                  Alliance Solution.

         4.1.7    Terms and conditions for co-marketing of the Alliance Solution
                  including without limitation, guidelines for acquiring new
                  business as well as apportioning of sales and profits.

         4.1.8    The Parties agree that when the Brand Name has been agreed
                  upon in writing by the Parties, notwithstanding that the
                  Agreement has not been executed by the Parties, Oasis may take
                  action to protect the Parties' rights and the terms contained
                  in section 4.1.4 will apply to such action.

5. THE BUSINESS RELATIONSHIP

5.1      Notwithstanding the Agreement, any or all of the Parties may: (i) work
         together to promote the Alliance Solution on an ad hoc basis and to
         jointly pursue marketing and business initiatives and activities in any
         specific global market segment, including without limitation, the
         financial services, retail, and insurance (the "Market Segments") and
         (ii) pursue other co-marketing, teaming, partnering and alliance
         agreements with each other.

5.2      Immediately after the Effective Date, the Parties shall commence work
         on (i) a business plan, (ii) a marketing plan, (iii) a project plan;
         and (iv) a detailed project schedule to determine the viability of a
         formal joint venture and ensure Alliance Solution market readiness as
         early as possible.

5.3      Each Party will provide at the engineering or technical level at no
         charge to the other Parties, technical support as reasonably requested
         to accomplish (i) the functional compatibility of all the Alliance
         Solution components and (ii) the continued development and upgrading of
         each Party's respective components in the Alliance Solution for
         improved functionality and the best operational integration of the
         Alliance Solution.

5.4      The Parties shall cooperate to produce marketing materials for the
         Alliance Solution. Each Party shall have the right to reproduce or
         otherwise use the Alliance Solution marketing materials of the other
         Parties. Such materials may be used in an individual Party's marketing
         or in Alliance-wide marketing and selling activities agreed upon by the
         Parties.

5.5      The Parties will work together to obtain new business through their
         combined efforts in the areas of (i) pre-sales by responding to
         requests for proposal ("RFP") and requests for information ("RFI"), and

                                       4
<PAGE>

         generating proposals and (ii) direct and indirect sales through channel
         distribution and third party partners.

5.6      The Parties agree to establish a steering committee for the purpose of
         ensuring the success of the Alliance Solution. The steering committee
         will recommend the general principles and final form of the Agreement
         and make all decisions regarding the business strategy of the Alliance.
         Each party shall appoint one senior executive as its steering committee
         member. Such senior executive shall be able to provide prompt decisions
         on behalf of the party he or she represents. The steering committee
         shall meet as mutually agreed either in person or by telephone
         conference call not less frequently than twice each month. The steering
         committee will agree on (i) a process for making decisions, (ii) a
         process for recording the minutes of its meetings and the performance
         of other necessary administrative activities and (iii) the creation of
         subcommittees e.g. technical and business subcommittees, to address
         technical, marketing and sales requirements.

5.7      In order to put forth the best commercially viable effort to ensure
         optimal market driven pricing practices, the Parties shall meet on a
         quarterly basis as mutually agreed to review and discuss the Alliance
         Solution pricing in relation to other competitive market solutions.

5.8      None of the Parties may use the name, logo or intellectual property of
         another Party or any affiliate of another Party, without the other
         Party's prior written approval.

5.9      This MOU does not create, and shall not be construed to create, any
         joint venture or partnership between the Parties. No officer, employee,
         agent, servant or independent contractor of any Party shall be at any
         time be deemed to be an employee, servant, agent or contractor of any
         other Party for any purpose. The Parties are each independent
         contractors, not employees, agents or representatives of each other. No
         Party has the right to bind any other Party to any agreement except as
         may be specifically provided herein.

5.10     The Parties agree that where consents are required, such consents shall
         not be either unreasonably delayed or unreasonably withheld.

5.11     Each Party shall be responsible for its own expenses in connection with
         this MOU.

5.12     Each Party agrees that the Parties will be under no obligation
         whatsoever to enter into further agreements with each other, as a
         result of this MOU.

6.       TERM AND TERMINATION

6.1      The Parties agree to use reasonable efforts to negotiate and conclude
         the Agreement as set out in section 4.1. The terms of the Agreement
         will supersede the terms of this MOU.

6.2      The term of this MOU is 90 days from the Effective Date, unless
         extended by agreement of the Parties.

6.3      If the Commercial Agreement has not been executed by the parties, upon
         expiry of this MOU (i) each Party shall, within 30 days of such expiry,
         return any property of another Party in its possession to such other
         Party (ii) the Brand Name shall become the property of Oasis and Oasis
         shall grant each of the Parties a non-exclusive, world-wide, fully
         paid-up license to use the Brand Name, (iii) Articles 7, and 8 and
         Section 6.3 will survive such expiry.

7.       LIMITATION OF LIABILITY

7.1      EXCEPT FOR A BREACH OF ANY OBLIGATION UNDER ARTICLE 7
         (CONFIDENTIALITY); IN NO CIRCUMSTANCES SHALL ANY PARTY BE LIABLE TO

                                       5
<PAGE>

         ANOTHER PARTY OR PARTIES FOR LOSS OF PROFITS, LOSS OF BUSINESS REVENUE,
         FAILURE TO REALIZE EXPECTED SAVINGS, OTHER COMMERCIAL OR ECONOMIC LOSS
         OF ANY KIND WHATSOEVER, NOR SHALL ANY PARTY BE LIABLE TO ANOTHER PARTY
         OR PARTIES FOR ANY INDIRECT, SPECIAL, EXEMPLARY, PUNITIVE OR
         CONSEQUENTIAL DAMAGES ARISING OUT OF OR IN ANY WAY RELATED TO THIS
         AGREEMENT INCLUDING IN CONNECTION WITH THE OBLIGATIONS THAT ARE THE
         SUBJECT MATTER OF A PROJECT PLAN, EVEN IF ADVISED OF THE POSSIBILITY OF
         SAME AND REGARDLESS OF THE CAUSE OF ACTION (INCLUDING BREACH OF
         CONTRACT, FUNDAMENTAL BREACH, AND NEGLIGENCE), AND

7.2      EXCEPT FOR PAYMENT OBLIGATIONS SPECIFICALLY PROVIDED FOR HEREUNDER, IN
         NO EVENT WILL THE CUMULATIVE LIABILITY OF ANY PARTY UNDER THIS
         AGREEMENT EXCEED US$10,000.

8.       CONFIDENTIALITY

8.1      In connection with this MOU it may be necessary for a Party to exchange
         confidential information ("Confidential Information") with another
         Party or the other Parties. All Confidential Information shall be
         exchanged under the terms of the separate confidentiality agreement,
         which is attached to this MOU as Schedule A.

8.2      Notwithstanding anything contained in this Article, a Party will not
         disclose the marketing plans, sales information, confidential product
         information, clients or customers of any other Party to third parties
         without first obtaining written permission from such other Party, and
         shall not make any such disclosure without entering into a suitable
         confidentiality agreement with such third party. However, each Party
         may discuss and share with customers and prospective customers publicly
         available product information and product literature including product
         briefs and product manuals belonging to another Party.

9.       Representations and Warranties

9.1      Each Party hereby represents and warrants to the other Parties as
         follows:

9.1.1    No Breach of other Agreements. The execution, delivery and performance
         of this MOU by such Party will not (i) result in the breach of, or
         constitute a default (or an event which, with or without notice or
         lapse of time or both, would constitute a default) under, any contract
         or other instrument or obligation to which such Party is now bound,
         (ii) result in the breach of any of the terms or conditions of, or
         constitute a default under, the charter, bylaws or other governing
         instruments of such Party, or (iii) violate any order, writ,
         injunction, decree, or any statute, rule or regulation applicable to
         such Party.

9.1.2    Exclusion of Other Warranties. EXCEPT AS EXPRESSLY PROVIDED FOR IN THIS
         AGREEMENT, ALL WARRANTIES EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED
         TO, ANY IMPLIED WARRANTIES OR CONDITIONS OF MERCHANTABILITY OR FITNESS
         FOR A PARTICULAR PURPOSE; AND THOSE ARISING BY STATUTE OR OTHERWISE IN
         LAW OR FROM A COURSE OF DEALING OR USAGE OF TRADE ARE ALL EXPRESSLY
         DISCLAIMED.

                                       6
<PAGE>

10.      GENERAL

10.1     The Parties understand and agree that this MOU is not meant to address
         all issues which may arise in connection with the development and
         marketing of the Alliance Solution. The Parties hereby agree to work
         together in good faith to negotiate and conclude the Agreement as soon
         as possible.

10.2     Nothing in this MOU implies transfer of title, ownership, copyright or
         other intellectual property rights from any Party to any other Party or
         the Parties.

10.3     Each Party agrees to comply fully with all applicable laws and
         government regulations applicable in any country or organization of
         nations within whose jurisdiction the Party operates or does business,
         including but not limited to, those applicable to the export and
         re-export of products.

10.4     This MOU may be executed in counterparts, each of which shall be deemed
         an original but all of which shall together constitute one and the same
         agreement.

IN WITNESS WHEREOF this MOU and its Schedule A have been executed by the Parties
hereto as if each had been signed separately.

Accepted and agreed to:  Accepted and agreed to:         Accepted and agreed to:

                                                         Giesecke & Devrient
Cardis B.V.              CIT Canada Inc.                 Systems Canada, Inc.
------------------------ ------------------------------- -----------------------

By:                      By:                             By:
------------------------ ------------------------------- -----------------------
    Signature                Signature                    Signature
Name:                    Name:                           Name:
------------------------ ------------------------------- -----------------------
    Type or Print          Type or Print                     Type or Print
Title:                   Title:                          Title:
------------------------ ------------------------------- -----------------------
    Type or Print          Type or Print                     Type or Print
Date:                    Date:                           Date:
------------------------ ------------------------------- -----------------------

Accepted and agreed to:  Accepted and agreed to:         Accepted and agreed to:

Oasis Technology Ltd.    Schimatic Cash Transactions     Ingenico
                         Network.com Inc. doing business
                         as Smart Chip Technology
                         Technologies Inc.

By: /s/ B.Bernstein      By: /s/ Jim Williams            By:
------------------------ ------------------------------- -----------------------
    Signature                Signature                       Signature

Name: B. Bernstein       Name: Jim Williams              Name:
------------------------ ------------------------------- -----------------------
     Type or Print          Type or Print                     Type or Print

Title: General Counsel   Title: President & CEO          Title:
------------------------ ------------------------------- -----------------------
       Type or Print          Type or Print                     Type or Print

Date: July 4, 2001       Date: 5/1/01                    Date:
------------------------ ------------------------------- -----------------------

                                       7
<PAGE>

                                ePAYMENT ALLIANCE

                           MEMORANDUM OF UNDERSTANDING

                                   Schedule A

                            CONFIDENTIALITY AGREEMENT

         THIS AGREEMENT is entered into effective as of the 1st day of March,
2001 by and between each of:

1.       CARDIS Enterprises International B.V., with its head office at
         Koningslaan 34, 1075 AD Amsterdam, The Netherlands ("CARDIS")

2.       CIT Canada Inc., a wholly owned subsidiary of Silverline, Inc, with its
         head office at 240 Duncan Mill Rd. North York, Ontario Canada M3C 3N6.
         ("CIT")

3.       Giesecke & Devrient Systems Canada, Inc, with its office at 399 Denison
         Street, Markham, Ontario Canada L3R 1B7. ("G&D")

4.       Oasis Technology Ltd., with its head office at 90 Sheppard Ave. East,
         Suite 100, Toronto, Ontario Canada M2N 6N5. ("Oasis")

5.       Schimatic Cash Transactions Network.com, Inc. doing business as Smart
         Chip Technology Technologies., with its head office at 740 East 3900
         South, Salt Lake City, UT, USA 84107. ("SCTN")

6.       Ingenico, with its head office at 9, Quai De Dion Bouton, 92816 Puteaux
         Cedex, France ("Ingenico" )

Each of CARDIS, CIT, G&D, Oasis, SCTN and Ingenico are referred to herein
individually as a "Party" and collectively as the "Parties".

The Parties contemplate entering into one or more discussions relating to, among
other things, an exploration of possible relationships between the Parties.
During the course of such discussions, in order to assist the Parties in
mutually making a decision as to the possibility of one or more types of
relationships between them, each of the Parties wishes to disclose to the other
and receive from the other information relating to the Parties' respective
businesses, their respective present and proposed products, services and systems
and, possibly, their respective know-how, much of which constitutes their
respective confidential and proprietary information.

         In consideration of the foregoing and the mutual agreements hereinafter
contained and in order to enable the Parties to proceed with these discussions,
the Parties agree as follows:

I.       CONFIDENTIAL INFORMATION

         1.       (A)      Despite any other provision of this agreement, the
                           following shall constitute a Party's confidential and
                           proprietary information (the "Confidential
                           Information"):

                  (a)      all information provided by that Party (the
                           "Discloser") to the other (the "Recipient") in
                           tangible form and that is marked prominently as
                           "confidential" or "proprietary" or that is otherwise
                           designated as confidential in advance of disclosure;

                  (b)      all information disclosed by the Discloser to the
                           Recipient, whether orally or in writing, and whether
                           or not specifically designated as confidential in
                           advance of disclosure, concerning the Discloser's
                           business plans or forecasts, financial state or
                           performance, sales, pricing structures, customers,
                           prospective customers, projects, prospective
                           projects, the names and expertise of employees and

                                       1
<PAGE>

                           consultants, contractual terms, procurement
                           requirements, sales and merchandising and marketing
                           plans, forecasts and strategies, research and
                           development initiatives, trade secrets or know-how
                           (including, without limitation, tangible or
                           intangible code, data, technology, algorithms,
                           software programs, software source documents,
                           formulae, inventions--whether patentable or not--and
                           technical aspects or details of the Discloser's
                           current, future and proposed services, systems,
                           techniques and products); and

                  (c)      proprietary and confidential information of the
                           Discloser's customers, prospective customers,
                           distributors and persons with whom the Discloser is
                           involved in a strategic alliance or joint venture
                           which may be disclosed to the Recipient by the
                           Discloser; and

                  (d)      any other information that the Discloser wishes to
                           disclose orally to the Recipient and in respect of
                           which prior to disclosure the Discloser has informed
                           the Recipient generally of the nature of such
                           information and the Recipient has agreed to receive
                           it in confidence, it being understood and agreed,
                           however, that the protection afforded by this
                           agreement to Confidential Information will apply to
                           the information disclosed in accordance with this
                           subparagraph (d) for only 30 days following the date
                           of disclosure unless within such 30 day period the
                           Discloser delivers to the Recipient a letter
                           confirming that the Discloser has disclosed and the
                           Recipient, at the time of such disclosure, has agreed
                           to receive such information in confidence, stating
                           generally the nature of the confidential information
                           disclosed without actually documenting the
                           information disclosed. For certainty, the limitation
                           on the protection afforded by this agreement to
                           Confidential Information disclosed in accordance with
                           this subparagraph (d) does not apply to information
                           that is also provided to the Recipient in tangible
                           form and is of the type referred to in paragraph (a),
                           above, or to information that is of the type referred
                           to in paragraphs (b) or (c), above.

                  (B)      Each Party's Confidential Information shall be used
by the other only for the purposes of evaluating the feasibility of one or more
types of potential relationships between the Parties and in connection with such
relationship or relationships if developed.

                  (C) Each Party receiving Confidential Information acknowledges
the claim of the Party disclosing such Confidential Information to the
intellectual property rights (including, without limitation, any copyrights,
patents and trade secrets) in that Confidential Information ("Intellectual
Property Rights")

         2. (A) All Confidential Information of a Party and every Derivative
thereof, whether created by the Discloser or the Recipient, is and remains the
property of the Discloser. For purposes of this agreement, "Derivative" means:
(i) for copyrightable or copyrighted material, any translation, abridgement,
revision or other form in which an existing work may be recast, transformed or
adapted; (ii) for patentable or patented material, any improvement thereon; and
(iii) for material that is protected by trade secret, any new material derived
from such existing trade secret material, including new material which may be
protected by copyright, patent and/or trade secret.

                  (B) Except to the extent otherwise permitted by paragraph (C)
of this subsection I.2, the Recipient shall not, without the prior written
consent of the Discloser, copy or reproduce or cause or permit to be copied or
reproduced, whether mechanically, electronically, in handwriting, by video,
photographic or audio recording or by data transfer or in any other manner, any
documents, materials or other information constituting, containing or referring

                                       2
<PAGE>

to Confidential Information furnished or disclosed to the Recipient by the
Discloser or any other person, including, without limitation, any notes which
the Recipient may have taken of conversations or meetings with the Discloser or,
if applicable, the Discloser's representatives or of material provided to the
Recipient by the Discloser or any other person, to the extent that such notes
constitute , contain or refer to Confidential Information of the Discloser (all
such documents, materials, other information and notes referred to as the
"Tangible Material").

                  (C) Nothing in paragraph (B) of this subsection I.2 will
prevent the Recipient from making such reasonable number of copies of Tangible
Material as are reasonably required by its employees for the purposes referred
to in paragraph I.1(B) hereof, subject to the provisions of subsection I.4 and
on condition that reasonable controls are instituted to keep track of the number
and destination of such copies. All copies of Tangible Material will be treated
in the same manner as original documents constituting, containing or referring
to Confidential Information and will be deemed to be Tangible Material.

                  (D) The Recipient shall return or deliver to the Discloser
promptly, upon the Discloser's request, all the Discloser's Confidential
Information and every Derivative thereof, including the originals and all copies
of all Tangible Material..

         3. Other than as expressly stated herein, this Agreement (a) creates no
rights in the Recipient regarding transfer, purchase, sale or license of
Intellectual Property Rights of the Discloser, employment, co-development or
independent contracting; and (b) permits no use, reproduction, copying,
manufacture, modification, sale, transfer, distribution, reverse engineering or
other attempt to derive source code, of the Confidential Information of the
Discloser, or creation of derivative works therefrom.

         4. Each Party acknowledges that disclosure of any of another Party's
Confidential Information either directly or indirectly to any third party
including, without limitation, its clients, the other's existing or potential
competitors or to the general public would be highly detrimental to the other's
business and economic interests. For a period of five (5) years following the
date of disclosure, or with respect to Confidential Information that is a trade
secret (including source code and object code), at all times, (i) the Recipient
shall maintain the Discloser's Confidential Information in confidence and shall
not make any commercial use of it, directly or indirectly, except pursuant to an
agreement in writing between the Discloser and the Recipient, and shall not use
it in any manner whatsoever adverse in interest to the interests of the other,
and (ii) the Recipient shall not disclose any of the Discloser's Confidential
Information to any third party without the express prior written authorization
from the Discloser, which authorization may be unreasonably or arbitrarily
withheld. The Recipient agrees to make its best efforts to maintain the secrecy
of all the Discloser's Confidential Information and to take such precautions to
safeguard such Confidential Information as are commercially reasonable
including, without limitation and as a minimum, the measures, if any, which the
Recipient takes to protect the Recipient's own similar confidential information.
The Recipient may disclose the Discloser's Confidential Information, on a "need
to know" basis, solely for the purposes set out in this agreement, to such of
its employees, agents or independent contractors who have entered into
confidentiality agreements, prior to the disclosure to such of them of the
Discloser's Confidential Information, that would subject the employee, agent or
independent contractor to non-disclosure and confidentiality obligations in
respect of the Discloser's Confidential Information equal to or more stringent
than those contained in this agreement.

         The Recipient's obligations of confidentiality hereunder do not extend
to any Confidential Information that the Recipient can demonstrate to the
satisfaction of the Discloser, acting reasonably:

                  a.       was previously known to the Recipient and was not
                           acquired under any obligation to hold it in
                           confidence, or

                  b.       was received from a third party who has the right to
                           disclose it without restriction, or

                  c.       was publicly available at the time of disclosure to
                           the Recipient, or

                  d.       was approved for public release by written
                           authorization of the Discloser, but only to the
                           extent of such authorization, or

                  e.       becomes publicly available through no fault of the
                           Recipient, or

                                       3
<PAGE>

                  f.       is or becomes the subject of a patent, in which case
                           the Discloser shall rely upon its rights pursuant to
                           such patent, or

                  g.       has been independently developed by the Recipient
                           without reliance on the Discloser's Confidential
                           Information, or

                  h.       is required by law or regulation to be disclosed, but
                           only to the extent and for the purposes of such
                           required disclosure and on condition that the
                           Recipient shall first give to the Discloser ten (10)
                           days notice or, if less notice is given to the
                           Recipient, as much notice to the Discloser as is
                           practicable, so that a protective order or other
                           relief, if appropriate, may be sought.

II.      GENERAL

         1. The Parties shall make reasonable efforts to limit disclosures of
their own information to information reasonably necessary to accomplish the
purpose of this Agreement, but this provision does not diminish the Parties'
respective obligations of confidentiality.

         2. No Party shall make any public disclosure concerning the discussions
they are having with each other or which mentions or refers to another Party or
its trademarks without the prior written consent of the other Party.

         3. Subject to the obligations contained herein including, without
limitation, the obligation of confidentiality, nothing in this Agreement shall
restrict the right of a Party to procure or market products or services which
may be competitive with those offered by another Party, nor obligate a Party to
obtain any services from another Party, nor prevent a Party from entering into
similar agreements with other companies or individuals.

         4. Each Party warrants to the other that it has the right to disclose
to the other all Confidential Information which it shall disclose and agrees to
indemnify and hold the other harmless against and from all claims, damages and
expenses, including reasonable legal fees, resulting from a wrongful disclosure
which would breach such warranty.

         5. It is understood that no Party hereby grants to the other any rights
under existing or future patents or proprietary information.

         6. It is understood that there is no obligation on the part of any
Party to enter into an agreement with any other Party or any third party for the
provision of services or products.

         7. This Agreement shall benefit and bind the Parties and their
respective successors.

         8. This Agreement constitutes the entire agreement between the Parties
with respect to the subject matter hereof. No modification or variation of the
Agreement will be considered valid unless it is made in writing, is clearly
expressed to be a modification hereto or variation hereof and is executed by the
Parties in the same manner as this Agreement. No provision of this Agreement
shall be waived except in writing and no waiver of a provision shall operate as
a waiver of any other provision or of the same provision on a future occasion.
If any provision hereof is held invalid, the balance will remain effective, and
to the extent feasible the offending provision will be restated to give effect
to its stated intent.

         9. THE DISCLOSER'S CONFIDENTIAL INFORMATION IS PROVIDED TO THE
RECIPIENT "AS IS," WITH NO EXPRESS OR IMPLIED CONDITION OR WARRANTY WHATSOEVER,
INCLUDING WITHOUT LIMITATION ANY CONDITION OR WARRANTY OF MERCHANTABILITY OR
FITNESS FOR A PARTICULAR PURPOSE OR OF UNINTERRUPTED OR ERROR-FREE OPERATION.
The foregoing provision is without prejudice to the respective rights and
obligations of the Parties under any subsequent written agreement into which
they may enter and the warranties and conditions, if any, that may be expressly
contained therein; except to the extent specifically provided in any such
subsequent written agreement, the Discloser is not responsible for the results
of any reliance by the Recipient upon the Discloser's Confidential Information.

                                       4
<PAGE>

         10. Each Party acknowledges that the Discloser may be irreparably
injured by a breach of the provisions of this Agreement and that the Discloser
may apply to a court of competent jurisdiction for equitable relief, including
injunctive relief and specific performance, in the event of any breach of the
provisions of this Agreement. Such remedies shall not be deemed to be the
exclusive remedies in the event of a breach, but shall be in addition to all
other remedies at law or equity. No failure or delay by a Party in exercising
any right, power or privilege hereunder shall operate as a waiver thereof, nor
shall any single or partial exercise thereof or the exercise of any right, power
or privilege hereunder constitute a waiver.

         11. The Parties agree that this Agreement shall be governed by and
interpreted in accordance with the law of Ontario (excluding its choice of law
rules) and that any action in any way arising out of this Agreement shall be
commenced in an appropriate court having jurisdiction in Ontario. The prevailing
Party in any suit hereunder shall recover all related costs, expenses and
reasonable legal fees.

         12. A signed copy of this Agreement may be validly delivered by
telecopier; if a signed copy is transmitted by telecopier, the copy received by
telecopier will be deemed to be an executed original, the Party delivering by
telecopier hereby undertaking and agreeing to deliver promptly the original
signed copy by mail or courier.

                                 * * * END * * *

                                       5

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