Document:

robk_ex106.htm

    Exhibit 10.6

       AGREEMENT

      

      Between

      

      ROTATE
BLACK, INC. AND

      ROTATE
BLACK, LLC,

      As
the shareholders of Rotate Black Gaming, Inc. f/k/a Solstice International,
Inc.

      

      And

      

      CATSKILL
GAMING AND DEVELOPMENT, LLC

      

      

      

      

      DATE:
JULY 1, 2010

      

      

      

      
 

      

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      

       

       AGREEMENT

      

      

      THIS AGREEMENT ("Agreement")
is made and entered into this 1st day of July, 2010 by and between ROTATE BLACK,
INC. and ROTATE BLACK, LLC (hereinafter collectively referred to as "Seller" or
"Sellers'"), which entities are the 75% and 25% owners, respectively, of the
capital stock of Rotate Black Gaming, Inc., f/k/a Solstice International, Inc.
and whose business offices are located at 932 Spring Street, Suite 201,
Petoskey, Michigan 49770 and 628 Harbor View Lane, Petoskey, Michigan 49770 ,
and CATSKILL GAMING AND DEVELOPMENT, LLC (hereinafter "Buyer"), whose business
office is located at 400 Andrews Street, Suite 500, Rochester, New York 14604
(the Seller and Buyer are hereinafter collectively referred to as the
"Parties").

      

      RECITALS

      

      WHEREAS, Rotate Black, LLC is
a privately held company organized and existing under the laws of the State of
Michigan, and is the owner of 25% of the capital stock of Rotate Black Gaming,
Inc. (the "Entity"); and

      

      WHEREAS, Rotate Black, Inc. is
a publically traded corporation organized and existing under the laws of the
State of Nevada, and is the owner of 75% of the capital stock of the Entity;
and

      

      WHEREAS, Seller desires to
sell and transfer to Buyer, and Buyer desires to purchase, all of Sellers'
capital stock in the Entity, which is a corporation organized and existing under
the laws of the State of Nevada; and

      

      WHEREAS, the Entity is a party
to a certain Management Agreement (the "Management Agreement") with the Seneca
Nation of Indians, a federally recognized Indian tribal government, with offices
located at 12837 Route 438, Cattaraugus Territory, Irving, New York and P.O. Box
21, Allegany Territory, Salamanca, New York 14779  (hereinafter
"Nation") executed in May, 2007, a copy of which is annexed hereto as Exhibit
"A", which Management Agreement was approved by the Nation on June 9, 2007, as
evidenced by the resolutions of the Nation annexed hereto and made a part hereof
as Exhibit "B"; and

      

      WHEREAS,                      Seller
is a party to a certain Development Agreement (the "Development Agreement") with
the Seneca Nation of Indians, a federally recognized Indian tribal government,
with offices located at 12837 Route 438, Cattaraugus Territory, Irving, New York
and P.O. Box 21, Allegany Territory, Salamanca, New York
14779  (hereinafter "Nation") executed in May, 2007, a copy of which
is annexed hereto as Exhibit "C", which Management Agreement was approved by the
Nation on June 9, 2007; and

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      WHEREAS, The term of each of
the above-referenced Management and Development Agreements expired on December
31, 2009; and

      

      

      WHEREAS, The Entity is party
to a certain Executive Order (the "Executive Order") with the Seneca Nation of
Indians, a federally recognized Indian tribal government, with offices located
at 12837 Route 438, Cattaraugus Territory, Irving, New York and P.O. Box 21,
Allegany Territory, Salamanca, New York 14779  (hereinafter "Nation")
executed in December, 2009, a copy of which is annexed hereto as Exhibit "D",
which Executive Order was Ordered by the President of the Nation on December 23,
2009;

      

      NOW, THEREFORE, in
consideration of the above and other good and valuable consideration, the
receipt and legal sufficiency of which are hereby acknowledged, the Parties
hereby agree as follows:

      

      1.           SALE OF
STOCK.   Seller hereby sells and assigns unto Buyer, its
successors and assigns, all of the capital stock of Seller.

      

      2.           WARRANTIES
AND REPRESENTATIONS.   Seller hereby warrants and
represents to Buyer the following:

      

      (i)           Rotate
Black, LLC is a limited liability company organized and existing under the laws
of the State of Michigan.

      

      (ii)           Rotate
Black, LLC is in good standing with the Secretary of State of the State of
Michigan.  Annexed hereto as Exhibit "E" is a currently dated good
standing certificate issued by the Secretary of State of the State of
Michigan.

      

      (iii)           Rotate
Black, Inc. is a publically traded corporation organized and existing under the
laws of the State of Nevada.

      

      (iv)           Rotate
Black, Inc. is in good standing with the Secretary of State of the State of
Nevada.  Annexed hereto as Exhibit "F" is a currently dated good
standing certificate issued by the Secretary of State of the State of
Nevada.

      

      (v)           Rotate
Black Gaming, Inc. is a corporation organized and existing under the laws of the
State of Nevada.

      

      (vi)           Rotate
Black Gaming, Inc. is in good standing with the Secretary of State of the State
of Nevada.  Annexed hereto as Exhibit "G" is a currently dated good
standing certificate issued by the Secretary of State of the State of
Nevada.

      

      (vii)           The
shareholders of all of the capital stock of Rotate Black Gaming, Inc.
are:

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      (a) Rotate Black LLC, a privately owned
entity (25%), and

      (b) Rotate Black, Inc., a publically
traded entity (75%).

      

      (viii)           There
are no outstanding liabilities of the Entity except as set forth in Exhibit "H",
annexed hereto and made a part hereof.

      

      (ix)           Neither
Seller nor the Entity are a party to any litigation, nor is any action pending
or threatened against Seller.  Seller is unaware of any facts or
circumstances under which Seller is or will be a party to any litigation, claims
or causes of action.

      

      (vi)           Rotate
Black, LLC and Rotate Black, Inc. are authorized to enter into this Agreement
and complete the transaction contemplated hereby, and the required
authorizations of each member (in the case of Rotate Black, LLC) and the Board
of Directors (in the case of Rotate Black, Inc. have been
obtained.  Such written authority of each entity are annexed hereto
and made a part hereof as Exhibit "I".

      

      All representations and warranties of
Seller shall be true and correct at the closing, and shall survive the
closing.  Seller agrees to hold Buyer harmless and indemnify Buyer
from and against any liability, claim, demand, and cause of action of any kind
whatsoever arising out of a breach of any of the foregoing warranties and
representations.  Such indemnification shall include any costs and
expenses incurred by Buyer in defending any such claim, including but not
limited to attorneys fees, costs and expenses. Any payments due Seller pursuant
to Paragraph 5 of this Agreement may be aplied to satisfy Seller's obligations
pursuant to this indemnification.

      

      3.           BUYER
HEREBY AGREES TO THE FOLLOWING:

      

      
        	
                (i)  

              	
                The
      Assumption of Seller's indebtedness to Bryan Cave, Akin Gump, and
      Bolton-St, John, as shown on Exhibit H hereof (which Buyer may negotiate
      and/or settle), and

              

      

      

      
        	
                (ii)  

              	
                Obtain
      a full release of Seller from
Stillwater.

              

      

      

       

      4.           CLOSING.                      The
closing on the purchase by Buyer from Seller shall occur on or by the 6th day of
July, 2010.

      

      

      5.           PURCHASE
PRICE.   Buyer agrees to pay to Seller the sum of TWENTY
ONE MILLION AND 00/100 DOLLARS ($21,000,000.00) in exchange for all of the
capital stock of Seller, such payment to be made as follows:

      

      (a)  TWO MILLION AND 00/100
DOLLARS ($2,000,000.00) on or by the last day of the twelth (12th)
month following the opening for business to the public of a gaming facility
under a Management Agreement between Buyer or its assigns, as Manager, and the
Seneca Nation of Indians in or near the Counties of Ulster and Sullivan in the
State of New York,

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      (b)  TWO MILLION AND 00/100
DOLLARS ($2,000,000.00) one year after the payment in (a) above,

      (c)  THREE MILLION FOUR
HUNDRED THOUSAND AND 00/100 DOLLARS ($3,400,000.00) one year after the payment
in (b) above,

      (d)  THREE MILLION FOUR
HUNDRED THOUSAND AND 00/100 DOLLARS ($3,400,000.00) one year after the payment
in (c) above, and

      (e)  THREE MILLION FOUR
HUNDRED THOUSAND AND 00/100 DOLLARS ($3,400,000.00) one year after the payment
in (d) above.

      (f)  THREE MILLION FOUR
HUNDRED THOUSAND AND 00/100 DOLLARS ($3,400,000.00) one year after the payment
in (c) above, and

      (g)  THREE MILLION FOUR
HUNDRED THOUSAND AND 00/100 DOLLARS ($3,400,000.00) one year after the payment
in (d) above.

       

      6.           DELIVERIES
AT CLOSING.   At the closing, Seller shall deliver to
Buyer any and all documents, agreements, plans, architect's plans, renderings,
correspondence, all books, records, tax returns and all other documents in any
way related to each entity constituting the Seller as an entity and also with
respect to the Entity, any documents, approvals or other reasonable assurances
related to this Agreement requested by Buyer, and all documents, agreements and
files related to the Entity's agreements with the Seneca Nation of Indians and
any Federal or State agencies.  In addition, Seller shall deliver to
Buyer properly endorsed certificates of stock evidencing the sale of all of the
capital stock of the Entity to Buyer.  Buyer shall deliver a one time
payment of FIFTEEN THOUSAND AND 00/100 DOLLARS ($15,000.00) in consideration for
this Agreement.

      

      

      7.           AUTHORITY
TO EXECUTE.   Each signatory to this Agreement has the
required authority and consents to enter into this Agreement.

      

      8.           LAW
GOVERNING.   This Agreement, and all matters arising out
of, in connection with or relating to this Agreement shall be construed under
the laws of the State of New York without giving effect to its conflicts of laws
principles.  Any action involving this Agreement between the Parties
shall be venued in Monroe County, New York, and each party accepts for itself,
generally and unconditionally, the jurisdiction of the applicable Court in
Monroe County, New York.

      

      Buyer and
Seller hereby irrevocably waive any objection, including any objection to the
laying of venue or based on the grounds of forum non conveniens, that either of
them may now or hereafter have to the bringing of any such action or proceeding
in such jurisdiction.

      

      

      9.           ENTIRE
AGREEMENT.   This Agreement constitutes the entire
understanding of the Parties with respect to the matters and transaction
contemplated herein.  There are no other agreements or understandings,
oral or otherwise, except as set forth herein.  This Agreement may not
be modified except in writing signed by the Parties hereto.

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      10.           ASSIGNMENT.   This
Agreement may be assigned by Buyer to an entity related, owned, and/or
controlled by Buyer or its principal owner.

      

      11.           OTHER
CONSENTS.  If other consents are required in connection with
this Agreement, including but not limited to the Seneca Nation of Indians with
respect to the Development and Management Agreements between Seller and the
Seneca Nation of Indians, Seller agrees to use its best efforts to obtain such
consents if, as and when requested to do so by Buyer.

      

      

      

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

      

      

      
        	
                SELLER

              	 
      	
                BUYER

              
	
                ROTATE
      BLACK, INC.

              	 
      	
                CATSKILL
      GAMING AND DEVELOPMENT,
      LLC

              
	 
      	 
      	 
      	
                 

              
	
                By:

              	 
      	 
      	
                By:

              	 
      
	 
      	
                John
      Paulsen, Chairman

              	 
      	 
      	
                David
      M. Flaum, Member

              
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	
                ROTATE
      BLACK, LLC

              	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	
                By:

              	 
      	 
      	 
      	 
      
	 
      	
                Kelly
      Paulsen, Memberex104.htm

ESCROW AGREEMENT

THIS ESCROW AGREEMENT (this “Agreement”) is made and entered into this 1st   day of May, 2010 by and between FuLuCai Productiions Ltd., a Nevada corporation, (the “Company”)  and and International Securities Group Inc., an Alberta corporation (“Escrow Agent”).

WHEREAS, the Company intends to undertake a private placement to raise a total of $100,000, which private placement is to be firm offering with no less than $100,000 raised.

WHEREAS, and the Company has requested that the Escrow Agent provide an escrow account to hold the funds raised under the private placement, pursuant to the terms detailed below.

WHEREAS, the parties wish to enter into this Agreement to set forth the terms of the terms of the Escrow Agreement with the Escrow Agent.

AGREEMENT

NOW THEREFORE, the parties hereto agree as follows:

	
1.  

	
Terms of the Escrow

a.           The Escrow Agent agrees to establish an escrow account for the purposes of receiving funds under the private placement to be undertaken by the Company.

b.           The Company intends to file a registration statement on Form S-1 to register the shares raised under the private placement and such registration statement shall provide the following terms for the sale of the shares under the registration statement:

The offering price is $0.01 per share. The offering of shares by the Company will terminate 180 days from the effective date of the registration statement, although the Company may close the private placement on any date prior if the offering is fully subscribed. In the event that the Company does not close the private placement within 180 days from the effective date of the registration statement, on the 181st day from the effective date all money received by the Escrow Agent will be returned to each subscriber without interest or deduction of any kind.  If the Company shall sell all of the shares within 180 days from the effective date of the registration statement, all money received will be paid by the Escrow Agent to the Company and there will be no refund to the subscribers.  No funds shall be released to any parties other than pursuant to the terms above.

  

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c.

	
  Upon the registration statement going effective the Company shall prepare and provide to the Escrow Agent a copy of the form of subscription agreement to be executed by each subscriber and the subscription agreement shall clearly denote the terms of the agreement with the Escrow Agent.

	
2.  

	
Escrow Agent – Duties and Fees.

	
(a)  

	
It is understood and agreed that the duties of the Escrow Agent are entirely ministerial being limited to receiving the proceeds from the private placement into an independent escrow account and holding and disbursing the funds in accordance with this Agreement.

	
(b)  

	
The Escrow Agent is not a party to, and is not bound by, any agreement between the Company and the subscribers except as may be evidenced by or arises out of the foregoing instructions.

	
(c)  

	
The Escrow Agent shall not be required to take or be bound by notice of any default of any person or to take any action with respect to such default involving any expense or liability, unless notice in writing of such default by the undersigned or any of them is given to the Escrow Agent at the address of the Escrow Agent listed above, and unless the Escrow Agent is indemnified in a manner satisfactory to it against any expense or liability arising therefrom.

	
(d)  

	
The Escrow Agent shall not be liable for acting on any notice, request, waiver, consent, receipt, or other paper or document believed by the Escrow Agent to be genuine and to have been signed by the proper party or parties.

	
(e)  

	
The Escrow Agent shall not be responsible for the genuineness of any document or signature and may rely conclusively upon any instrument believed in good faith to be genuine or signed by the proper party or parties.  The Escrow Agent shall have no responsibility except for the performance of its expressed duties hereunder, and no additional duties shall be implied.  No amendment or modification of this Escrow Agreement or waiver of its terms shall affect the duties of the Escrow Agent unless the Escrow Agent consents thereto in writing.  The Escrow Agent shall not be liable for any act or omission in the performance of its duties as Escrow Agent unless such act or omission constitutes bad faith, gross negligence or fraud.

	
(f)  

	
The Escrow Agent shall not be required to institute or defend any legal action involving matters referred to herein or which affects the duties or liabilities of the Escrow Agent hereunder unless requested to do so by a party to this Escrow Agreement, and then only upon receiving full indemnity satisfactory to the Escrow Agent against any and all claims, liabilities, and expenses related thereto.  If a dispute arises among the parties in relation to the Escrow Agent or its duties, the Escrow Agent may act or refrain from acting (a) in

  

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reliance upon the advice of its counsel, (b) until required to do so by an order of court of competent jurisdiction, and shall not be liable for so acting or refraining from acting or (c) may deposit all amounts and documents which Escrow Agent holds in court and bring an action in the nature of interpleader with respect to the escrow items.

	
(g)  

	
The Escrow Agent shall not receive any fee for the preparation of this Agreement and this agreement to act as Escrow Agent hereunder, however the funds shall be placed into an interest bearing account and the Escrow Agent shall retain any interest earned on the funds.

INTENTIONALLY LEFT BLANK

  

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

FuLuCai Productions Ltd.

By: s/s James Durward                                           

Name:  James Durward

Title: President

ESCROW AGENT

International Securities Group Inc.

By: s/s Caroline Winsor

Name:   Caroline Winsor

Title:  Manager

.

  

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