Document:

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                                                                    EXHIBIT 10.4

September 10, 2001

Douglas R. Miller
President & Chief Operating Officer
Global Sports & Entertainment, Inc.
5092 South Jones Boulevard
Las Vegas, NV  89118

Dear Mr. Miller:

This letter agreement (the "Letter Agreement") confirms our understanding that
Global Sports & Entertainment, Inc. (the "Company") has engaged Keating
Investments, LLC ("Keating") to provide certain financial advisory and
investment banking services.

         1. ENGAGEMENT. Keating will perform such of the following financial
advisory services on the Company's behalf as the Company may reasonably request:

         (a) Keating will familiarize itself to the extent it deems appropriate
and feasible with the business, historic, current and prospective operations,
properties and financial condition of the Company, it being understood that
Keating shall, in the course of such familiarization, rely entirely upon
publicly available information and such other information as may be supplied by
the Company without assuming any responsibility for independent investigation or
verification thereof;

         (b) Keating will undertake a financial due diligence examination of the
Company to determine expected cash flow and current and potential enterprise
value;

         (c) Keating will advise and assist the Company in identifying and/or
evaluating various financial alternatives that may be available to the Company,
including without limitation, a public or private sale of equity or debt
securities of the Company, or such other form of financial transaction that
Keating believes may be of possible interest to the Company;

         (d) If the Company determines to consider or undertake one or more
financing transactions, Keating will advise and assist the Company in
considering the desirability of undertaking such transaction and, if the Company
believes such transaction to be desirable, in structuring and preparing a
negotiation strategy for such financial transaction;

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         (e) Keating will advise and assist the Company as follows:

                  (i)      Keating will advise and assist the Company with
                           respect to its capital/corporate structure as it
                           relates to the public markets, including a fair and
                           equitable valuation/capitalization when issuing
                           additional securities;

                  (ii)     Keating will assist the Company to determine the
                           short and medium term funding necessary to support
                           the Company's business and strategic plans for the
                           next two years; and

                  (iii)    Keating will identify and evaluate, at the Company's
                           request, potential future funding sources.

         (f) If the Company determines to consider or undertake one or more
transactions with respect to the sale, merger, consolidation or any other
business combination, in one or a series of transactions, involving all or part
of the business, securities or assets of the Company, any recapitalization of
the Company or any spin-off, split-off or other extraordinary dividend of cash,
securities or other assets to stockholders of the Company (each, a
"Transaction"), Keating will advise and assist the Company in considering the
desirability of undertaking such Transactions and, if the Company believes such
Transaction to be desirable, in structuring such transaction.

         (g) Keating will render such other financial advisory and investment
banking services as may from time to time be agreed upon by Keating and the
Company.

         2. INFORMATION PROVIDED BY THE COMPANY.

         (a) The Company shall make available to Keating all information
concerning the business, operations, properties, prospects and financial
condition of the Company, as applicable, that Keating requests in connection
with the rendering of services hereunder, and shall provide Keating with
reasonable access to the Company's officers, directors, employees, independent
accountants and other advisors and agents as Keating shall deem appropriate.

         (b) The Company recognizes and confirms that Keating will use and rely
upon the information provided by or on behalf of the Company and its advisors
and agents and on publicly available information in performing the services
contemplated hereby. It is understood that in performing under this engagement
Keating may assume and rely upon the accuracy and completeness of, and is not
assuming any responsibility for independent investigation or verification of,
such publicly available information and the information so furnished.

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         3. FEES. Upon signing of this Letter Agreement, the Company will issue
to Keating a warrant to purchase 600,000 shares of common stock of the Company
at a purchase price of $0.10 per share. The warrant will be exercisable
immediately and will remain exercisable for a period of five (5) years. The
Company shall provide piggyback registration rights to Keating on customary
terms. Payment for further services provided hereunder shall be as mutually
agreed between the Company and Keating.

         4. EXPENSES. Without in any way reducing or affecting the provisions of
EXHIBIT A hereto, on a monthly basis, the Company shall reimburse Keating for
its out-of-pocket expenses incurred in connection with the provision of services
hereunder, including, without limitation, fees, disbursements and other charges
of Keating's counsel. Out-of-pocket expenses also shall include, without
limitation, travel and lodging, data processing and communication charges,
research and courier services. Notwithstanding the foregoing, the Company's
reimbursement obligations under this Section 4 will apply only to expenses not
exceeding an aggregate of $500 per month or such greater amount as may be
specifically designated and pre-approved in writing by the Company.

         5. INDEMNITY. The Company agrees to the provisions of EXHIBIT A hereto
which provide for certain indemnification by the Company of Keating and certain
related persons. Such indemnification is an integral part of this Letter
Agreement and the terms thereof are incorporated by reference herein. Such
indemnification shall survive any termination, expiration or completion of
Keating's engagement hereunder.

         6. TERM. This Letter Agreement and Keating's engagement hereunder may
be terminated by either the Company or Keating upon thirty days' prior written
notice thereof to the other party; PROVIDED, HOWEVER, that termination of this
Letter Agreement shall not affect (a) the Company's continuing obligation to
indemnify Keating and certain related persons as provided in EXHIBIT A and its
continuing obligations under Section 9 hereof or (b) the Company's obligation to
reimburse the expenses accruing prior to such termination to the extent provided
for in Section 4.

         7. MATTERS RELATING TO ENGAGEMENT.

         (a) The Company acknowledges that Keating has been retained solely to
provide the services set forth in this Letter Agreement. In rendering such
services, Keating shall act as an independent contractor, and any duties of
Keating arising out of its engagement hereunder shall be owed solely to the
Company. The advice (oral or written) rendered by Keating pursuant to this
Letter Agreement is intended solely for the benefit and use of the Board of
Directors of the Company in considering the matters to which this Letter
Agreement relates, and the Company agrees that such advice may not be relied
upon by any other person, used for any other purpose or reproduced,
disseminated, quoted or referred to at any time, in any manner or for any
purpose, nor shall any public references to Keating be made by the Company,
without the prior written consent of Keating. The Company further acknowledges
that Keating may perform certain of the services described herein through one or
more of its respective affiliates.

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         (b) The Company acknowledges that Keating works in a variety of
capacities for various entities and that such entities may be direct or indirect
competitors of the Company. The Company's engagement of Keating pursuant to this
Letter Agreement shall in no way preclude Keating from working in any capacity
for other parties, or on behalf of itself, or its affiliates, including in
matters in which the Company is or may become involved. Keating will promptly
disclose to the Company information concerning any proposed representation that
may impinge upon Keating's ability faithfully to execute its obligations under
this Letter Agreement, and in such case Keating will not accept the proposed
representation without the prior written consent of the Company . The Company
also acknowledges that Keating and its affiliates have no obligation to use in
connection with the transactions contemplated by this Letter Agreement, or to
furnish to the Company, confidential information obtained from other companies.

         (c) Except to the extent authorized by the Company or required by any
federal or state law, rule or regulation or any decision or order of any court
or regulatory agency, Keating agrees that it will not disclose to any person,
other than to any officer, director, employee, agent or attorney of Keating who
needs to know the information in connection with the performance of Keating's
services under this Agreement, any confidential information received by Keating
from the Company, its agents or employees in connection with the performance of
Keating's services under this Agreement, provided that information will not be
deemed confidential if such information (i) is or becomes generally available to
the public, other than as a result of a breach of this Agreement by Keating,
(ii) is lawfully obtained by Keating from a third party, provided that the third
party is not bound by a nondisclosure agreement or fiduciary obligation with
respect to the information, or (iii) is subsequently developed by Keating from
independent sources.

         (d) Keating acknowledges and agrees to comply with the prohibitions
against trading in the Company's securities while in possession of material
non-public information concerning the Company in violation of the insider
trading rules set forth Section 10 of the Securities Exchange Act of 1934, as
amended, and Rule 10b-5 thereunder.

         (e) Keating is not authorized to act as agent of the Company in any
connection or transaction, and Keating agrees not to act as such agent and not
to purport to do so without the prior written approval of the Company.

         (f) If Keating identifies or introduces potential investors to the
Company in connection with any financing, Keating will use all reasonable
efforts to select investors who Keating reasonably believes to be "accredited
investors" as defined in Rule 501(a) of Regulation D of the Securities Act of
1933, as amended, or who otherwise meet the investor suitability requirements
and such additional individual state requirements as may be specified by the
Company.

         8. GOVERNING LAW AND SUBMISSION TO JURISDICTION.

         (a) This Letter Agreement shall be governed by and construed in
accordance with the laws of the State of California, without giving effect to
the conflicts of laws principles thereof. The Company and Keating irrevocably
agree to waive trial by jury in any action, proceeding, claim or counterclaim
brought by or on behalf of either party related to or arising out of this Letter
Agreement or the performance of services hereunder.

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         (b) Each of the parties hereto irrevocably agrees that, except as
otherwise set forth in this paragraph, any state or federal court sitting in the
State of California shall have exclusive jurisdiction to hear and determine any
suit, action or proceeding and to settle any dispute arising out of or relating
to this Letter Agreement and, for such purposes, irrevocably submits to the
jurisdiction of such courts. The Company hereby agrees that service of any
process, summons, notice or document by hand delivery or registered mail
addressed to the Company shall be effective service of process for any suit,
action or proceeding brought in any such court. The Company irrevocably and
unconditionally waives any objection to the laying of venue of any such suit,
action or proceeding brought in any such court and any claim that any such suit,
action or proceeding has been brought in an inconvenient forum. The Company
agrees that a final judgment in any such suit, action or proceeding brought in
any such court shall be conclusive and binding upon the Company and may be
enforced in any other court to whose jurisdiction the Company is or may in the
future be subject, by suit upon judgment. The Company further agrees that
nothing herein shall affect Keating's right to effect service of process in any
other manner permitted by law or to bring a suit, action or proceeding
(including a proceeding for enforcement of a judgment) in any other court or
jurisdiction in accordance with applicable law.

         9. MISCELLANEOUS.

         (a) If any term, provision, covenant or restriction contained in this
Letter Agreement is held by a court of competent jurisdiction to be invalid,
void or unenforceable or against public policy, the remainder of the terms,
provisions, covenants and restrictions contained herein shall remain in full
force and effect and shall in no way be affected, impaired or invalidated. The
Company and Keating shall endeavor in good faith negotiations to replace the
invalid, void, or unenforceable provisions with valid provision the economic
effect of which comes as close as possible to that of the invalid, void or
unenforceable provisions.

         (b) This Letter Agreement contains the entire agreement between the
parties relating to the subject matter hereof and supersedes all oral statements
and prior writings with respect thereto. This Letter Agreement may not be
amended or modified except by a writing executed by each of the parties. The
provisions of this Letter Agreement, including, without limitation, the
obligations set forth in Sections 3 and 4 above and EXHIBIT A hereto, shall be
binding on the Company and its successors and assigns.

         (c) Section headings herein are for convenience only and are not a part
of this Letter Agreement. This Letter Agreement may be executed in counterparts,
each of which will be deemed an original, but all of which taken together will
constitute one and the same instrument.

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         If the foregoing correctly sets forth the understanding and agreement
between Keating and the Company, please so indicate by signing the enclosed copy
of this letter, whereupon it shall become a binding agreement between the
parties hereto as of the date first above written.

                                             Very truly yours,

                                             KEATING INVESTMENTS, LLC

                                             By:      /S/ TIMOTHY J. KEATING
                                                  ------------------------------
                                                   Timothy J. Keating
                                                   President

Accepted and agreed to as of the day first written above:

GLOBAL SPORTS & ENTERTAINMENT, INC.

By:   /S/ DOUGLAS R. MILLER
     ------------------------------------------------
      Douglas R. Miller
      President and Chief Operating Officer

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                                                                       EXHIBIT A
                                                                       ---------

                  Global Sports & Entertainment, Inc. (the "Company") shall
indemnify, defend and hold harmless Keating Investments, LLC ("Keating") and its
affiliates, counsel and other professional advisors, and the respective
directors, officers, controlling persons, agents and employees of each of the
foregoing (Keating, and all of such other persons collectively, the "Indemnified
Parties"), from and against any losses, claims or proceedings including
stockholder actions, damages, judgments, assessments, investigation costs,
settlement costs, fines, penalties, arbitration awards, other liabilities,
costs, fees and expenses (collectively, "Losses") related to or arising out of
(A) oral or written information provided by the Company, the Company's employees
or other agents, which either the Company or Keating provides to any persons for
the purposes of making an investment decision with respect to the Company, or
(B) other action or failure to act by the Company, the Company's employees or
other agents, PROVIDED that this paragraph shall not apply to the extent that
such Losses arose out of the willful misconduct, gross negligence, bad faith or
violation of law of such Indemnified Party. If multiple claims are brought
against an Indemnified Party in an arbitration, with respect to at least one of
which indemnification is permitted under applicable law and provided for under
this Letter Agreement, the Company agrees that any arbitration award shall be
conclusively deemed to be based on claims as to which indemnification is
permitted and provided for, except to the extent the arbitration award expressly
states that the award, or any portion thereof, is based solely on a claim as to
which indemnification is not available.

                  The Company shall assume the defense of any such Action
including the engagement of counsel reasonably satisfactory to Keating and will
not settle, compromise, consent or otherwise resolve or seek to terminate any
pending or threatened Action (whether or not any Indemnified Party is a party
thereto) unless it obtains the prior written consent of Keating or an express,
unconditional release of each Indemnified Party from all liability relating to
such Action and the engagement of Keating under this Letter Agreement. Any
Indemnified Party shall be entitled to retain separate counsel of its choice and
participate in the defense of any Action in connection with any of the matters
to which this EXHIBIT A relates, but the fees and expenses of such counsel shall
be at the expense of such Indemnified Party unless: (i) the Company has failed
promptly to assume the defense and employ counsel or (ii) the named parties to
any such Action (including any impleaded parties) include such Indemnified Party
and the Company, and such Indemnified Party shall have been advised by counsel
that there may be one or more legal defenses available to it which are different
from or in addition to those available to the Company; PROVIDED that the Company
shall not in such event be responsible under this EXHIBIT A for the fees and
expenses of more than one firm of separate counsel (in addition to local
counsel) in connection with any such Action in the same jurisdiction.

                  The Company agrees that if any right of any Indemnified Party
set forth in the preceding paragraphs is finally judicially determined to be
unavailable (except by reason of the gross negligence or bad faith of such
Indemnified Party), or is insufficient to hold such Indemnified Party harmless
against such Losses as contemplated herein, then the Company shall contribute to
such Losses (i) in such proportion as is appropriate to reflect the relative

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benefits received by the Company and its stockholders, on the one hand, and such
Indemnified Party, on the other hand, in connection with the transactions
contemplated hereby, and (ii) if (and only if) the allocation provided in clause
(i) is not permitted by applicable law, in such proportion as is appropriate to
reflect not only the relative benefits referred to in clause (i) but also the
relative fault of the Company and such Indemnified Party; PROVIDED, HOWEVER,
that in no event shall the amount, if any, to be contributed by all Indemnified
Parties exceed the amount of the fees actually received by Keating hereunder.
Benefits received (or anticipated to be received) by the Company and its
stockholders shall be deemed to be equal to the aggregate cash consideration and
value of securities or any other property payable, exchangeable or transferable
in any proposed or potential transactions within the scope of this Letter
Agreement, and benefits received by Keating shall be deemed to be equal to the
compensation payable by the Company to Keating in connection with this Letter
Agreement. Relative fault shall be determined by reference to, among other
things, whether any alleged untrue statement or omission or any other alleged
conduct relates to information provided by the Company or other conduct by the
Company (or the Company's employees or other agents) on the one hand or by
Keating on the other hand. The parties hereto agree that it would not be just
and equitable if contribution were determined by pro rata allocation or by any
other method of allocation which does not take into account the equitable
considerations referred to above.

                  The Company also agrees that no Indemnified Party shall have
any liability (whether direct or indirect, in contract or tort or otherwise) to
the Company for or in connection with advice or services rendered or to be
rendered by any Indemnified Party pursuant to this Letter Agreement, the
transactions contemplated hereby or any Indemnified Party's actions or inactions
in connection with any such advice, services or transactions except for Losses
of the Company that are finally judicially determined by a court of competent
jurisdiction to have arisen solely out of the willful misconduct, gross
negligence or bad faith of such Indemnified Party in connection with any such
advice, actions, inactions or services.

                  The rights of the Indemnified Parties hereunder shall be in
addition to any other rights that any Indemnified Party may have at common law,
by statute or otherwise. Except as otherwise expressly provided for in this
EXHIBIT A, if any term, provision, covenant or restriction contained in this
EXHIBIT A is held by a court of competent jurisdiction or other authority to be
invalid, void, unenforceable or against its regulatory policy, the remainder of
the terms, provisions, covenants and restrictions contained in this Letter
Agreement all remain in full force and effect and shall in no way be affected,
impaired or invalidated. The reimbursement, indemnity and contribution
obligations of the Company set forth herein shall apply to any modification of
this Letter Agreement and shall remain in full force and effect regardless of
any termination of, or the completion of any Indemnified Person's services under
or in connection with, this Letter Agreement.

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                                                                    EXHIBIT 10.5

                          EXECUTIVE SERVICES AGREEMENT
                          ----------------------------

         THIS EXECUTIVE SERVICES AGREEMENT ("Agreement") is made and entered
into as of the 6th day of December, 1999 ("Effective Date") by and between
GLOBAL SPORTS AND GAMING.COM, a Delaware corporation ("Company") and DOUGLAS R.
MILLER, an individual ("Miller").
         WHEREAS, Company desires to employ the services of Miller and Miller is
agreeable to provide his services to Company upon the terms and conditions
hereinafter set forth:
         NOW, THEREFORE, in consideration of the foregoing recitals and of the
mutual promises contained herein, Company and Miller agree as follows:

         1.       SERVICES.
                  1.1 Except as set forth Paragraph 1.3, Miller agrees to
provide his exclusive services to Company as a Chief Operating Officer of
Company during the "Term" (as defined below), for the purpose of effecting and
promoting "Company's Business" (as hereafter defined). Miller hereby agrees to
provide such services, on the terms and conditions hereinafter set forth.
"Company's Business" is defined as the entertainment, sports, publishing,
telemarketing and Internet business.
                  1.2 Miller shall have such authority, duties and
responsibilities as may be vested in Miller by the Board of Directors of Company
and Miller agrees to discharge such duties and responsibilities to the best of
his ability.
                  1.3 Miller further agrees that he shall carry out his duties
and responsibilities hereunder in a diligent and competent manner and shall
devote his full business time, attention and energy thereto. During the Term,
Miller may, however, without the prior written approval of the Board of
Directors, offer his services as a (a) consultant (b) author, or (c) outside
board member, provided these activities do not interfere with Miller's ability
to perform this duties and responsibilities under this Agreement.
                  1.4 Except as provided herein, Miller represents, warrants and
covenants that he will not be during the Term, subject to any employment
agreement, non-competition covenant, non-disclosure agreement or any similar
agreement, covenant, restriction or understanding that would be breached by
Miller's execution of this Agreement or the performance by Miller of any of his
duties, responsibilities or covenants hereunder, or that would in any manner,
directly or indirectly, limit or otherwise affect the duties and
responsibilities that may now or in the future be assigned to Miller by Company.

         2. TERM. The "Term" shall be for a five (5) year period commencing on
January 1, 2000 and terminating on December 31, 2004 ("Scheduled Termination
Date"), unless extended or sooner terminated pursuant to this Agreement. The
term "Year" as used herein refers to the period commencing on January 1st and
ending on December 31st.

         3. COMPENSATION. In full and complete consideration of the services to
be rendered by Miller hereunder and subject to Miller performing all of his
material duties and obligations hereunder and not otherwise being in material
default of this Agreement, Company shall pay or cause to be paid to Miller the
following compensation:

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                  3.1 BASE SALARY. The base salary ("Base Salary") payable by
Company to Miller shall be as follows: (a) One Hundred Eighty Thousand Dollars
($180,000) per annum. The Base Salary shall be payable in accordance with the
company's standard payroll procedures. The Base Salary shall be increased to
$250,000 once Company has completed an Initial Public Stock Offering ("IPO"), a
secondary financing in which it receives at least $10,000,000, or the stock of
the Company becomes publicly traded. The Base Salary shall be adjusted annually
by the greater of 5% or the increase in CPI during the Year.
                  3.2 BONUS. A bonus within the discretion of the Board of
Directors, except that a bonus of no less than $250,000.00 shall be immediately
payable if and when the stock of the Company is publicly traded, the Company
completes (a) a private financing of at least $10,000,000, and/or (b) a sale of
a majority of the capital stock of the Company.
                  3.3 REIMBURSEMENT OF EXPENSES. Company shall promptly
reimburse Miller for any and all actual, reasonable and necessary expenses
incurred by Miller in the performance of the duties hereunder during the Term,
including, without limitation, reasonable entertainment expenses and reasonable
airfare, automobile, living accommodations and other traveling expenses. Such
reimbursement shall be conditioned upon Miller submitting to Company an itemized
statement and appropriate vouchers or receipts in respect of the expenses.
                  3.4 VACATION. For each year of the Term, Miller may take up to
three (3) weeks paid vacation. In addition, Miller may take sick days, holidays
and personal days in accordance with Company's policies. Any additional time off
shall be only upon mutual agreement of the parties as to both the time taken and
compensation, if any.
                  3.5 CAR ALLOWANCE. Company shall pay the gross amount of $600
per month during the Term (prorated for partial months) as a car allowance.
Miller acknowledges and agrees that he shall be solely responsible for his
automobile costs, such as the cost of a lease, insurance, registration,
maintenance, gasoline, etc.
                  3.6 DISABILITY INSURANCE. Company shall obtain and pay for a
long-term disability insurance policy in the minimum amount of 60% of Miller's
base salary.
                  3.7 FRINGE BENEFITS. Company shall provide Miller with
comprehensive medical and dental insurance coverage and such other fringe
benefits as and when provided by the Company to its executives or as determined
by the Board of Directors.
                  3.8 STOCK OPTIONS. Upon closing the Company's Private
Placement of $4.2 Million minimum, Miller shall receive Stock Options to
purchase 100,000 shares of the Company's common stock at the Private Placement
price with all shares vested. Miller shall receive an additional stock option
upon the Company completing an Initial Public Stock offering and any and all
secondary stock offerings, including a private placement of stock. These options
shall be for a number of shares equal to five (5%) of the total stock issued by
the company in the IPO and the secondary offerings. These options shall be fully
vested upon issuance and the option price shall be the same price as the IPO or
secondary stock offering price. If appropriate, these Stock Options will be
issued pursuant to the Stock Option Plan, a copy of which is attached hereto and
incorporated by this reference.
                  3.9 DIRECTOR'S AND OFFICER'S INSURANCE. The Company shall
provide Director's and Officer's Insurance (D&O Insurance) in an amount and
terms reasonably acceptable to Miller.

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In addition the Company will provide, pay for, and reimburse Miller for any
legal or related expenses which he incurs in any action taken against Miller as
a result of his role as an Officer, Director, or employee of the Company.
Furthermore, regardless of the outcome of such actions, the Company, at its sole
expense, will defend Miller in all such actions including the reimbursement of
any and all expenses in excess of the coverage provided by D&O Insurance.

         4.       TERMINATION.
                  4.1 TERMINATION WITHOUT CAUSE. If Company is deemed to have
terminated this Agreement without cause as provided in Paragraph 6.0, then
Miller shall be entitled to receive the Base Salary for the unexpired portion of
the Term of this Agreement plus his Base Salary for an additional two (2) year
period (the "Parachute Period"). For example, assuming that Miller is terminated
pursuant to Paragraph 6.0 and there are two years remaining on the Initial Term
of this Agreement, Miller shall receive his Base Salary for four (4) years
(i.e., two (2) years for the unexpired Term and his Base Salary for the
Parachute Period). In addition, Miller shall continue to receive the benefits
and other payments outlined in Section 3 and the unvested portion of all stock
options shall immediately become fully vested.
                  4.2 TERMINATION WITH CAUSE. This Agreement shall be terminable
prior to the expiration of the Term by mutual consent of the parties or by
Company upon the occurrence of one of the following events:
                           4.2.1 Upon the engagement by Miller in any business
activity which is competitive to Company's business or which is otherwise
contrary to Miller providing his professional services exclusively for the
benefit of Company;
                           4.2.2 If Miller is charged with and convicted of (or
enters a plea of NOLO CONTENDERE in any court relating to) an act of fraud or
embezzlement against the Company;
                           4.2.3 Failure to fulfill his material obligations
under this Agreement or the continued negligent breach or violation of the
material terms of this Agreement or the failure of any of the representation or
warranties herein to be true and correct; PROVIDED, HOWEVER, that if such
failure, breach or violation is of a nature that is curable, Miller shall have
thirty (30) business days after written notice of such failure, breach or
violation is given to him to effect cure thereof;
                           4.2.4 Miller's repeated abuse of alcohol or other
drugs or controlled substances that interferes with the performance of Miller's
performance of his material obligations hereunder or which has had or can
reasonably be expected to have a material adverse affect on the business or
affairs of Company.
                           4.2.5 It is understood and agreed that if this
Agreement is terminated by Company for any of the reasons set forth in Paragraph
4.2 hereof or because Miller otherwise resigns or retires prior to the end of
the Term ("Termination For Cause"), then Miller shall not be entitled to receive
any compensation except for the following: (i) any earned portion of the Base
Salary or Bonus pursuant to Paragraph 3.1 and 3.2; (ii) any unpaid expenses
pursuant to Paragraph 3.3; (iii) any accrued and unpaid compensation for unused
vacation and car allowance pursuant to Paragraphs 3.4 and 3.5; and (iv) any
stock options vested prior to Termination For Cause.

         5.       DEATH OR DISABILITY OF MILLER.
                  5.1 In the event that Miller dies or becomes disabled during
the Term, the Term shall terminate effective as of the date of death or
disability, and Company shall have no further obligation or liability to Miller
(or any person claiming under or through him), except that Company shall pay or
cause to be paid to Miller's legal representative the amounts that would
otherwise be payable to Miller had the Term been terminated on such date

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"without cause" pursuant to Paragraph 4.1 above. In the event that death or
disability occurs with less than twenty-four (24) months remaining in the Term,
then the Company shall continue paying to Miller's legal representative an
amount which would have been payable under this Paragraph 5.1 as if there had
been twenty-four months remaining in the Term.
                  5.2 During the period of any Disability (as hereinafter
defined) of Miller during the Term, he shall continue to be compensated as
provided in Paragraph 3 hereof, less any payments paid to him under applicable
disability benefit programs (which he agrees he is obligated to pursue),
including Social Security, worker's compensation programs and disability
insurance. In the event that Miller is Disabled for less than seventy-five (75)
consecutive days (or one hundred five (105) days in the aggregate) during any
Calendar Year, Company shall not have the right hereunder to terminate this
Agreement. In the event that Miller is Disabled for more than seventy-five (75)
consecutive days (or one hundred five (105) days in the aggregate) during any
Calendar Year, Company shall have the right to terminate this Agreement, in
which event, Company shall pay or cause to be paid to Miller (or his legal
representative) the amounts that would otherwise be payable to Miller had the
Term been terminated on such date pursuant to Paragraph 5.1 above.
                  5.3 The term "Disability" and "Disabled" as used herein shall
mean a mental or physical condition that renders Miller unable to perform
substantially all of Miller's duties and responsibilities hereunder. Miller
expressly agrees, in the event of any dispute under this Paragraph 5 to submit
to physical examination by a physician licensed in California and selected and
paid by Company. Miller shall also have the right, at his sole expense, to have
another physician of his own choice present during such examination. In the
event that Miller elects to have a physician present and Miller's physician and
the Company's physician disagree as to whether Miller is Disabled, such
physicians shall mutually select a third physician, which shall be paid for by
Miller and Company, and such physician's decision shall control. In the event
that the physicians are unable in good faith to agree upon a third physician,
the decision of the Company's physician shall control so long as such physician
had a good faith basis for such determination.

         6.       TERMINATION OF EXCLUSIVE DUTIES.
                  6.1 In the event that Company elects in writing at any time
not to continue using the exclusive services of Miller and removes Miller as the
Chief Operating Officer of Company other than for the reasons specified in
Paragraphs 4.2 and/or 5 above, Miller shall be relieved of all obligations
hereunder except as provided in this Paragraph 6. Subject to Miller receiving
the amount specified in this Agreement, Miller shall remain obligated upon
Company's request to provide non-exclusive consulting services (in such a manner
as not to restrict Miller from full time employment by another company) to
Company from the effective date of the election by Company ("Trigger Date")
through the Scheduled Termination Date (the "Mitigation Period"). During the
Mitigation Period, Company shall remain obligated to pay to Miller the
Compensation payable to Miller under Paragraph 3 above provided that during such
Mitigation Period Miller honors the obligations specified in Paragraphs 8 and 9
below. The Compensation shall be paid to Miller as and when such Compensation is
payable under Paragraph 3 of this Agreement. In addition, promptly after the
Trigger Date, Company shall pay to Miller any unpaid expenses pursuant to
Paragraph 3.4 and any accrued and unpaid compensation for unused vacation
pursuant to Paragraph 3.5 as of the Trigger Date, and any accrued and unpaid car
allowance pursuant to Paragraph 3.6 as of the Trigger Date.

                                      -4-
<PAGE>

                  6.2 Payments which Company is obligated to make to Miller
during the Mitigation Period shall be reduced by the amount equal to one-half
(1/2) the compensation earned by Miller from other sources during the Mitigation
Period (which shall exclude any and all non-cash consideration, contingent,
and/or deferred compensation received during or after the Mitigation Period, as
well as exclude amounts paid to him as a result of investments or amounts
received by him as an author). If Miller earns more than twice the Compensation
specified in Paragraph 6.1 during the Mitigation Period, Miller shall not be
entitled to any payments from Company for his Base Salary or Parachute Payment
during the Mitigation Period. During the Mitigation Period Miller shall have an
affirmative duty to seek other employment that will not violate the provisions
of Paragraph 9 and shall truthfully, accurately and promptly report and account
in writing to Company for all compensation earned by him (excluding that
outlined above) with respect to the Mitigation Period. Nothing in this Paragraph
6.2 shall require Miller to accept employment which he believes, in good faith,
is inappropriate, or at a level below that which he performed at Company.
                  6.3 Notwithstanding anything herein to the contrary, Company
shall not be obligated to utilize the services of Miller so long as Company pays
to him the amount specified in Paragraph 6.1 above. In the event that Company is
deemed to have terminated Miller without cause, his sole remedy shall be to
collect the amounts provided in this Agreement and such amounts shall be
retained by him as full and complete discharge and satisfaction of any claims
for damages and remedies, legal or equitable, and he expressly agrees to honor
the obligations specified in Paragraphs 8 and 9 below during the Mitigation
Period so long as Company is making such payments to him.

         7. ADDITIONAL AGREEMENTS. Miller agrees to execute the Confidential
Information Disclosure Agreement and the Indemnity Agreement, a copy of which is
attached hereto and incorporated by this reference.

         8. CONFIDENTIAL INFORMATION. Miller shall not use or disclose to any
other person (other than to another officer of the Company or his attorney,
accountant or professional financial advisor with a need to know such
information), any confidential information or trade secrets that he has or may
receive during such time as he has rendered or is rendering services to Company
relating to Company, or its business or affairs (including, without limitation,
any such information stored on any computer or in computer-readable form) that
contains or reflects any such information (except that Miller may take a copy of
his rolodex and documents reflecting his compensation). The confidentiality
obligations hereunder shall not extend to information in the possession of
Miller prior to his employment with Company or if the confidentiality is lost
due to reasons other than a violation of this Paragraph by Miller, or if Miller
is required to disclose such information by court order or other binding legal
process (so long as Miller gives ten (10) days' prior written notice to Company
of proceeding pursuant to which Miller is being asked to disclose confidential
information).

                                      -5-
<PAGE>

         9.       NON-COMPETITION AND RELATED COVENANTS.
                  9.1 During the Term and for one year thereafter (which
one-year period shall be referred to herein as the "Post-Agreement Period"),
Miller shall not, unless acting pursuant to this Agreement or with the prior
consent of Company, own, control, manage, operate, join or finance, or
participate in the ownership, control, management, operation or financing of, or
be connected as a director, officer, employee, partner, principal, agent
representative, consultant or otherwise with, or use or permit its or his name
to be used in connection with, any business or enterprise that is or is
reasonably likely to become competitive with the Company's Business in any
jurisdiction in which Company is then engaged in business, for so long as
Company continues to conduct business in such jurisdiction. During the
Post-Agreement Period, Miller agrees to provide mutually acceptable
non-exclusive consulting services of Miller to Company, subject to payment of
the compensation set forth in this Agreement.
                  9.2 Prior to the expiration of the Term and during the
Post-Agreement Period, Miller shall not: (i) solicit or attempt to solicit for
employment any person who is then an employee of Company, or induce or attempt
to induce any such employee to terminate his or her employment with Company; or
(ii) solicit, divert or take away, or attempt to solicit, divert or take away,
any person that is at the time of such termination an advertiser, customer or
client of Company; or advise or induce or attempt to advise or induce any such
person not to continue its relationship with Company or to withdraw, curtail or
cancel its business dealings with Company; or (iii) interfere with or damage
Company's business relationships with its employees, lenders, creditors,
advertisers, clients, customers and others with whom it does business.
                  9.3 Miller's obligations under Paragraph 9 during the
Post-Agreement Period shall be conditioned upon payment to Miller of the
Compensation provided for in this Agreement.
                  9.4 The covenants set forth in this Paragraph 9 shall be
construed as a separate and independent covenant for each of the separate
states, provinces, territories and possessions throughout the world. To the
extent that such covenant shall be declared to be invalid or unenforceable in
any particular jurisdiction, such declaration shall not affect such covenant
with respect to any other jurisdiction. In addition, in the event that any court
shall determine that the scope, time or territorial restrictions set forth
herein are not reasonable, then it is the intention of the parties that such
restrictions be enforced to the fullest extent permitted by law, and this
Agreement shall thereby and to that extent be reformed.
                  9.5 The restrictions set forth in this Paragraph 9 shall not
be construed to prohibit the ownership collectively by Miller of less than five
percent (5) of any class of securities of any corporation having a class of
securities registered under the Securities Exchange Act of 1934, if and as long
as such ownership represents a passive investment and neither Miller nor any
group of affiliated persons in any way, directly or indirectly, manages or
exercises control over such corporation or otherwise takes part in such
corporation's business, or seeks to do any of the foregoing.
                  9.6 As used in Paragraph 8 hereof and this Paragraph 9, the
term "Company" shall be deemed to include any Affiliate(s) (whether now existing
or hereafter formed or acquired).

         10. NOTICES. All notices or other communications which are required or
permitted hereunder shall be in writing and sufficient if (i) delivered
personally, (ii) sent by nationally-recognized overnight courier, or (iii) sent
by certified mail, postage prepaid, return receipt requested, addressed as
follows:

                                      -6-
<PAGE>

         If to Company, to:        Global Sports And Gaming.com
                                   c/o Lee Sacks
                                   Law Offices Of Lee Sacks
                                   100 Wilshire Boulevard, Suite 1300
                                   Santa Monica, CA 90401

         If to Miller, to:         Douglas R. Miller
                                   1717 6th Street
                                   Manhattan Beach, Calif 90266

or to such other address as the party to whom notice is to be given may have
furnished to the other party in writing in accordance herewith. Any such
communication shall be deemed to have been given (i) when delivered if
personally delivered, (ii) on the business day after dispatch if sent by
nationally-recognized, overnight courier as an overnight package for next day
delivery and so received, and (iii) on receipt, if sent by mail.

         11.      MISCELLANEOUS.
                  11.1 All compensation payable to Miller hereunder shall be net
of required deductions, withholdings and reductions to offset payments. If any
payment required to be made hereunder is to be paid on a weekend or holiday,
such payment shall be made on the next business day. If Company fails to make
any payment required hereunder on the date such payment is due, Miller shall
give written notice to Company requesting such payment and Company shall have
five (5) business days from receipt of such notice to pay the amount due. In the
event that Company pays the amount due within such five (5) days period, Company
shall not be deemed to have breached any such payment obligation to Miller.
                  11.2 Company may secure, at its cost, life, health, accident,
and other insurance covering Miller for Company's benefit, and Miller shall not
have any right, title or interest in or to such insurance. Miller shall submit
to usual and customary medical examinations for Company's insurance purposes
(including self-insurance) and will sign such applications or other documents as
may be reasonably required in the premises.
                  11.3 Company shall have the right during the Term and
thereafter to the extent already embodied in materials already distributed,
throughout the Universe, to use Miller's name, likeness, photograph, voice
and/or biography in connection with Company's business, including, without
limitation, any advertising relating thereto.
                  11.4 This Agreement and any Exhibits attached hereto
constitutes and contains the entire agreement and understanding among the
parties hereto with respect to the matters set forth herein and the transactions
contemplated hereby, and supersedes and replaces all prior contracts,
negotiations and all proposed agreements, promises, covenants, guarantees,
representations, whether written or oral, express or implied, concerning any of
the subject matters hereof. Each of the parties agrees and acknowledges that
such party has not executed this Agreement in reliance on any agreement,
promise, covenant, guarantee, representation, commitment, or warranty not
expressly set forth in this Agreement. This Agreement may not be altered or
otherwise amended except by an instrument in writing signed by each of the
parties hereto.
                  11.5 Company believes that a monetary remedy for a breach of
Paragraphs 8 or 9 of this Agreement will be inadequate, and will be
impracticable and extremely difficult to prove, and further believes that such a
breach would cause Company irrevocable harm, and that Company should be entitled
to seek temporary and permanent injunctive relief without the necessity of
proving actual damages.

                                      -7-
<PAGE>

                  11.6 The failure of either party at any time to require the
other party's performance of any provision hereof shall not affect such parties
right thereafter to enforce the same, except to the extent specifically
contemplated herein; nor shall the waiver by either party of any breach of any
provision hereof be construed to be a waiver of any succeeding breach of any
such provision, or as a waiver of the provision itself.
                  11.7 This Agreement and each of its provisions shall be
interpreted according to the fair and common meaning of its terms and shall not
be construed in favor of, or against, any of the parties hereto by reason of the
extent to which any such party or its counsel participated in its drafting or by
reason of the extent to which this Agreement or any such provision hereof is
inconsistent with any prior draft hereof.
                  11.8 Amendments to this Agreement shall only be effective if
the same shall be in writing and signed by the party to bound thereby.
                  11.9 The parties hereto acknowledge that they have read and
understand each and every provision of this Agreement and consent to all of the
terms and provisions contained herein voluntarily and without any reservation
whatsoever, and that the parties have had the same explained to them by
independent legal counsel.
                  11.10 As used in this Agreement, the term "person" shall mean
an individual, firm, corporation, partnership, governmental jurisdiction or
agency or other entity or enterprise.
                  11.11 More than one counterpart of this Agreement may be
executed by the parties hereto, and each such counterpart shall be deemed an
original.
                  11.12 Except as expressly provided herein, it is not the
intention of any of the parties to confer, and the Agreement shall not be
construed as to confer, any right or benefit upon any person or entity other
than the parties and each of their successors and permitted assigns.
                  11.13 This Agreement shall be assigned by Company to any
person, firm, corporation or other entity with which Company may merge,
consolidate or which acquires substantially all of Company's assets. This
Agreement may not be assigned by Miller. Subject to the foregoing, the parties
agree that this Agreement and all of its terms shall be binding upon their
respective heirs, personal representatives, executors, administrators,
successors and assigns.
                  11.14 This Agreement shall be governed by and its terms
construed in accordance with the laws of the State of California, applicable to
agreements entered into and to be performed wholly in California.

                                      -8-
<PAGE>

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of
December 6, 1999 in Los Angeles County, California.

Dated:       12/6/99            GLOBAL SPORTS AND GAMING.COM, INC.
        -----------------

                                By:      /S/ WAYNE ALLYN ROOT
                                     -------------------------------------------
                                     Wayne Allyn Root, Chief Executive Officer

Dated:       12/6/99                  /S/ DOUGLAS R. MILLER
        -----------------       ------------------------------------------------
                                    Douglas R. Miller

                                      -9-

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