Document:

EXECUTION COPY

                          SCIENTIFIC GAMES CORPORATION

                   CONVERTIBLE SENIOR SUBORDINATED DEBENTURES

                          REGISTRATION RIGHTS AGREEMENT

     This REGISTRATION RIGHTS AGREEMENT dated December 23, 2004 (the
"Agreement") is entered into by and among Scientific Games Corporation, a
Delaware corporation (the "Company"), the guarantors listed in Schedule 1 hereto
(the "Guarantors") and J.P. Morgan Securities Inc. and Bear, Stearns & Co. Inc.
as representatives of the Initial Purchasers (the "Representatives") and
Jefferies & Company, Inc., Ramius Securities, LLC, BNY Capital Markets, Inc.,
Commerzbank Capital Markets Corp. and LaSalle Debt Capital Markets, a division
of ABN AMRO Financial Services, Inc. (collectively with the Representatives, the
"Initial Purchasers").

     Pursuant to the Purchase Agreement, dated as of December 1, 2004, among the
Company and the Representatives (the "Purchase Agreement"), the Initial
Purchasers have agreed to purchase from the Company $250,000,000 aggregate
principal amount of its Convertible Senior Subordinated Debentures due 2024,
and, at the option of the Initial Purchasers, up to an additional $25,000,000
aggregate principal amount of its Convertible Senior Subordinated Debentures due
2024 (together, the "Debentures"). The Debentures will be convertible into fully
paid, non-assessable shares of Class A common stock, par value $0.01 per share,
of the Company (the "Common Stock"). The Debentures will be convertible on the
terms, and subject to the conditions, set forth in the Indenture (as defined
herein). To induce the Initial Purchasers to purchase the Debentures, the
Company and the Guarantors have agreed to provide the registration rights set
forth in this Agreement pursuant to Section 5(j) of the Purchase Agreement.

     The parties hereby agree as follows:

     1. Definitions. Capitalized terms used in this Agreement without definition
shall have their respective meanings set forth in the Purchase Agreement. As
used in this Agreement, the following capitalized terms shall have the following
meanings:

     "Additional Amounts": As defined in Section 3(a) hereof.

     "Additional Amounts Payment Date": Each June 1 and December 1.

     "Affiliate" of any specified person means any other person which, directly
or indirectly, is in control of, is controlled by, or is under common control
with, such specified person. For purposes of this definition, "control" of a
person means the power, direct or indirect, to direct or cause the direction of
the management and policies of such person whether by contract or otherwise; and
the terms "controlling" and "controlled" have meanings correlative to the
foregoing.

     "Agreement": This Registration Rights Agreement.

     "Amendment Effectiveness Deadline Date": As defined in Section 2(e) hereof.

     "Business Day": The definition of "Business Day" in the Indenture.

     "Commission": Securities and Exchange Commission.

     "Common Stock": As defined in the preamble hereto.

     "Company": As defined in the preamble hereto.

     "Debentures": As defined in the preamble hereto.

     "Effectiveness Period": As defined in Section 2(a)(iii) hereof.

     "Effectiveness Target Date": As defined in Section 2(a)(ii) hereof.

     "Exchange Act": Securities Exchange Act of 1934, as amended.

     "Guarantee": The senior subordinated guarantee of the Debentures by the
Guarantors.

     "Guarantors": As defined in the preamble hereto.

     "Holder": A Person who owns, beneficially or otherwise, Transfer Restricted
Securities.

     "Indemnified Holder": As defined in Section 6(a) hereof.

     "Indenture": The Indenture, dated as of December 23, 2004, among the
Company, the Guarantors and Wells Fargo Bank, National Association, as trustee
(the "Trustee"), pursuant to which the Debentures are to be issued, as such
Indenture is amended, modified or supplemented from time to time in accordance
with the terms thereof.

     "Initial Purchasers": As defined in the preamble hereto.

     "Majority of Holders": Holders holding over 50% of the aggregate principal
amount of Debentures outstanding that are Transfer Restricted Securities;
provided that, for the purpose of this definition, a holder of shares of Common
Stock which constitute Transfer Restricted Securities and issued upon conversion
of the Debentures shall be deemed to hold an aggregate principal amount of
Debentures (in addition to the principal amount of Debentures held by such
holder) equal to the quotient of (x) the number of such shares of Common Stock
held by such holder and (y) the conversion rate in effect at the time of such
conversion as determined in accordance with the Indenture.

     "NASD": National Association of Securities Dealers, Inc.

     "Notice and Questionnaire": a written notice executed by the respective
Holder and delivered to the Company containing substantially the information
called for by the Selling Securityholder Notice and Questionnaire attached as
Exhibit A to the Offering Memorandum of the Company dated December 1, 2004
relating to the Debentures.

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     "Notice Holder": on any date, any Holder that has delivered a Notice and
Questionnaire to the Company on or prior to such date.

     "Person": An individual, partnership, corporation, company, unincorporated
organization, trust, joint venture or a government or agency or political
subdivision thereof.

     "Prospectus": The prospectus included in a Shelf Registration Statement, as
amended or supplemented by any prospectus supplement and by all other amendments
thereto, including post-effective amendments, and all material incorporated by
reference into such prospectus.

     "Purchase Agreement": As defined in the preamble hereto.

     "Record Holder": With respect to any Additional Amounts Payment Date, each
Person who is a Holder on the 15th day preceding the relevant Additional Amounts
Payment Date.

     "Registration Default": As defined in Section 3(a) hereof.

     "Securities Act": Securities Act of 1933, as amended.

     "Shelf Filing Deadline": As defined in Section 2(a)(i) hereof.

     "Shelf Registration Statement": As defined in Section 2(a)(i) hereof.

     "Subsequent Shelf Registration Statement" has the meaning set forth in
Section 2(c) hereof.

     "Suspension Notice": As defined in Section 4(c) hereof.

     "Suspension Period": As defined in Section 4(b)(i) hereof.

     "TIA": Trust Indenture Act of 1939, as amended, and the rules and
regulations of the Commission thereunder, in each case, as in effect on the date
the Indenture is qualified under the TIA.

     "Transfer Restricted Securities": Each Debenture (and Guarantee thereof)
and each share of Common Stock issued upon conversion of Debentures until the
earliest of:

               (i) the date on which such Debenture or such share of Common
          Stock issued upon conversion has been effectively registered under the
          Securities Act and disposed of in accordance with the Shelf
          Registration Statement; provided that, with respect to shares of
          Common Stock issued upon conversion of a Debenture that has been so
          registered and disposed of, the relevant date shall be the date on
          which such Debenture that was converted was registered and disposed
          of, provided that upon conversion

                                       3

          the shares of Common Stock received by the holder are freely
          transferable without additional registration under Securities Act;

               (ii) the date on which such Debenture or such share of Common
          Stock issued upon conversion is transferred in compliance with Rule
          144 under the Securities Act (or any other similar provision then in
          force) or may be sold or transferred by a person who is not an
          Affiliate of the Company pursuant to Rule 144 under the Securities Act
          (or any other similar provision then in force) without any volume or
          manner of sale restrictions thereunder; or

               (iii) the date on which such Debenture or such share of Common
          Stock issued upon conversion ceases to be outstanding (whether as a
          result of redemption, repurchase and cancellation, conversion or
          otherwise).

     "Underwritten Registration": A registration in which Debentures are sold to
an underwriter for reoffering to the public.

     Unless the context otherwise requires, the singular includes the plural,
and words in the plural include the singular.

     2.   Shelf Registration.

          (a)  The Company and the Guarantors shall:

               (i)   not later than 120 days after the first date of the
                     original issuance of the Debentures (the "Shelf Filing
                     Deadline"), cause to be filed a registration statement
                     pursuant to Rule 415 under the Securities Act (the "Shelf
                     Registration Statement"), which Shelf Registration
                     Statement shall provide for resales of all Transfer
                     Restricted Securities held by Holders that have provided
                     the information required pursuant to the terms of Section
                     2(b) hereof;

               (ii)  use reasonable efforts to cause the Shelf Registration
                     Statement to be declared effective by the Commission not
                     later than 210 days after the first date of the original
                     issuance of the Debentures (the "Effectiveness Target
                     Date"); and

               (iii) use reasonable efforts to keep the Shelf Registration
                     Statement continuously effective, supplemented and amended
                     as required by the provisions of Section 4(b) hereof to the
                     extent necessary to ensure that (A) it is available for
                     resales by the Holders of Transfer Restricted Securities
                     entitled, subject to Section 2(b), to the benefit of this
                     Agreement and (B) conforms with the requirements of this
                     Agreement and the Securities Act and the rules and
                     regulations of the Commission promulgated thereunder as
                     announced from time to time, for a period (the
                     "Effectiveness Period") until the earliest of:

                                       4

                         (1) two years following the last date of original
                    issuance of any of the Debentures;

                         (2) the date when the Holders of Transfer Restricted
                    Securities are able to sell all such Transfer Restricted
                    Securities immediately without restriction pursuant to the
                    volume limitation provisions of Rule 144 under the
                    Securities Act (or any similar provision then in force); or

                         (3) the date when all of the Transfer Restricted
                    Securities cease to be outstanding or have been sold either
                    pursuant to the Shelf Registration Statement or pursuant to
                    Rule 144 under the Securities Act or any similar provision
                    then in force.

          (b) At the time the Shelf Registration Statement is declared
     effective, each Holder that became a Notice Holder on or prior to the date
     that is 10 Business Days prior to such time of effectiveness shall be named
     as a selling securityholder in the Shelf Registration Statement and the
     related Prospectus in such a manner as to permit such Holder to deliver
     such Prospectus to purchasers of Transfer Restricted Securities in
     accordance with applicable law. No such Holder (other than the Initial
     Purchasers) shall be entitled to have its Transfer Restricted Securities
     covered by such Shelf Registration Statement unless such Holder agrees in
     writing to be bound by all the provisions of this Agreement applicable to
     such Holder. None of the Company's or the Guarantors' securityholders
     (other than the Holders of Transfer Restricted Securities) shall have the
     right to include any of the Company's or any of the Guarantors' securities
     in the Shelf Registration Statement.

          (c) If the Shelf Registration Statement or any Subsequent Shelf
     Registration Statement ceases to be effective for any reason at any time
     during the Effectiveness Period (other than because all Transfer Restricted
     Securities registered thereunder shall have been resold pursuant thereto or
     shall have otherwise ceased to be Transfer Restricted Securities), the
     Company and the Guarantors shall use their reasonable efforts to obtain the
     prompt withdrawal of any order suspending the effectiveness thereof, and in
     any event shall within 45 days of such cessation of effectiveness amend the
     Shelf Registration Statement in a manner reasonably expected to obtain the
     withdrawal of the order suspending the effectiveness thereof, or file an
     additional Shelf Registration Statement covering all of the securities that
     as of the date of such filing are Transfer Restricted Securities (a
     "Subsequent Shelf Registration Statement"). If a Subsequent Shelf
     Registration Statement is filed, the Company and the Guarantors shall use
     their reasonable efforts to cause the Subsequent Shelf Registration
     Statement to become effective as promptly as is practicable after such
     filing and to keep such Registration Statement (or Subsequent Shelf
     Registration Statement) continuously effective until the end of the
     Effectiveness Period.

                                       5

          (d) The Company and the Guarantors shall supplement and amend the
     Shelf Registration Statement if required by the rules, regulations or
     instructions applicable to the registration form used by the Company and
     the Guarantors for such Shelf Registration Statement, if required by the
     Securities Act or as reasonably requested by the Initial Purchasers or by
     the Trustee on behalf of the Holders of the Transfer Restricted Securities
     covered by such Shelf Registration Statement.

          (e) Each Holder agrees that if such Holder wishes to sell Transfer
     Restricted Securities pursuant to a Shelf Registration Statement and
     related Prospectus, it will do so only in accordance with Section 2(b),
     Section 2(e) and Section 4(b). Each Holder wishing to sell Transfer
     Restricted Securities pursuant to a Shelf Registration Statement and
     related Prospectus agrees to deliver a Notice and Questionnaire to the
     Company at least 10 Business Days prior to any intended distribution of
     Transfer Restricted Securities under the Shelf Registration Statement. From
     and after the date the Shelf Registration Statement is declared effective
     the Company and the Guarantors shall, as promptly as practicable after the
     date a Notice and Questionnaire is delivered, and in any event upon the
     later of (x) 10 Business Days after such date or (y) 10 Business Days after
     the expiration of any Suspension Period in effect when the Notice and
     Questionnaire is delivered or put into effect:

               (i) if required by applicable law, file with the SEC a
          post-effective amendment to the Shelf Registration Statement or
          prepare and, if required by applicable law, file a supplement to the
          related Prospectus or a supplement or amendment to any document
          incorporated therein by reference or file any other required document
          so that the Holder delivering such Notice and Questionnaire is named
          as a selling securityholder in the Shelf Registration Statement and
          the related Prospectus in such a manner as to permit such Holder to
          deliver such Prospectus to purchasers of the Transfer Restricted
          Securities in accordance with applicable law and, if the Company shall
          file a post-effective amendment to the Shelf Registration Statement,
          use reasonable efforts to cause such post-effective amendment to be
          declared effective under the Securities Act as promptly as is
          practicable, but in any event by the date (the "Amendment
          Effectiveness Deadline Date") that is 60 days after the date such
          post-effective amendment is required by this clause to be filed;

               (ii) provide such Holder a copy of any documents filed pursuant
          to Section 2(e)(i); and

               (iii) notify such Holder as promptly as practicable after the
          effectiveness under the Securities Act of any post-effective amendment
          filed pursuant to Section 2(e)(i);

provided that if such Notice and Questionnaire is delivered during a Suspension
Period, the Company shall so inform the Holder delivering such Notice and
Questionnaire and

                                       6

shall take the actions set forth in clauses (i), (ii) and (iii) above upon
expiration of the Suspension Period in accordance with Section 4(b).
Notwithstanding anything contained herein to the contrary, (i) neither the
Company nor the Guarantors shall be under any obligation to name any Holder that
is not a Notice Holder as a selling securityholder in any Registration Statement
or related Prospectus, (ii) the Amendment Effectiveness Deadline Date shall be
extended by up to 10 Business Days from the expiration of a Suspension Period
(and neither the Company nor the Guarantors shall incur any obligation to pay
Additional Amounts during such extension) if such Suspension Period shall be in
effect on the Amendment Effectiveness Deadline Date and (iii) the Company shall
not be obligated to file more than one post-effective amendment pursuant to
Section 2(e) in any single fiscal quarter of the Company.

          (f) The Company may require each Notice Holder to furnish to the
     Company such information regarding the Notice Holder and the distribution
     of the Transfer Restricted Securities as the Company may from time to time
     reasonably request for inclusion in the Shelf Registration Statement, and
     the Company may exclude from such registration the Transfer Restricted
     Securities of any Notice Holder that unreasonably fails to furnish such
     information within 20 business days after receiving such request, without
     prejudice to that Notice Holder's right to request participation in
     subsequent amendments to or filings of a Shelf Registration Statement.

     3.   Additional Amounts.

          (a)  If:

               (i) the Shelf Registration Statement is not filed with the
          Commission prior to or on the Shelf Filing Deadline;

               (ii) the Shelf Registration Statement has not been declared
          effective by the Commission prior to or on the Effectiveness Target
          Date;

               (iii) the Company or the Guarantors have failed to perform their
          obligations set forth in Section 2(e) within the time period required
          therein;

               (iv) any post-effective amendment to a Shelf Registration
          Statement filed pursuant to Section 2(e)(i) has not become effective
          under the Securities Act on or prior to the Amendment Effectiveness
          Deadline Date;

               (v) except as provided in Section 4(b)(i) hereof, the Shelf
          Registration Statement is filed and declared effective but, during the
          Effectiveness Period, shall thereafter cease to be effective or fail
          to be usable for its intended purpose without being succeeded within
          15 Business Days by a post-effective amendment to the Shelf
          Registration Statement, a supplement to the Prospectus or a report
          filed with the Commission pursuant to Section 13(a), 13(c), 14 or
          15(d) of the Exchange

                                       7

          Act that cures such failure and, in the case of a post-effective
          amendment, is itself immediately declared effective; or

               (vi) (A) prior to or on the 30th day of any Suspension Period,
          such suspension has not been terminated or (B) Suspension Periods
          exceed an aggregate of 90 days in any 360 day period,

(each such event referred to in foregoing clauses (i) through (vi), a
"Registration Default"), the Company and the Guarantors hereby agree to pay
additional amounts in cash ("Additional Amounts") with respect to the Transfer
Restricted Securities to each Holder of such Transfer Restricted Securities who
has complied with such Holder's obligations under this Agreement from and
including the day following the Registration Default to but excluding the
earlier of (1) the day on which all Registration Defaults have been cured and
(2) the date the Shelf Registration Statement is no longer required to be kept
effective as set out below:

                    (A) in respect of the Debentures, the Company and the
               Guarantors jointly and severally agree to pay interest to each
               holder of Debentures accruing at a rate of (x) with respect to
               the first 90-day period during which a Registration Default shall
               have occurred and be continuing, equal to 0.25% per annum of the
               aggregate issue price of the Debentures, and (y) with respect to
               the period commencing on the 91st day following the day the
               Registration Default shall have occurred and be continuing, equal
               to 0.50% per annum of the aggregate issue price of the
               Debentures; provided that in no event shall Additional Amounts
               accrue at a rate per year exceeding 0.50% of the aggregate issue
               price of the Debentures; and

                    (B) in respect of Common Stock, each Holder of such Common
               Stock will not be entitled to any Additional Amounts on such
               Common Stock;

provided that the Company shall not be required to pay Additional Amounts in
respect of more than one Registration Default at any one time.

          (b) All accrued Additional Amounts shall be paid in arrears to Record
     Holders by the Company and the Guarantors on each Additional Amounts
     Payment Date. Additional Amounts pursuant to clauses (iii) through (vi) of
     Section 3(a) shall only be payable to Holders of Transfer Restricted
     Securities that have delivered a timely and properly completed Notice and
     Questionnaire. Upon the cure of all Registration Defaults relating to any
     particular Debenture, the accrual of Additional Amounts with respect to
     such Debenture shall cease.

     All obligations of the Company and the Guarantors set forth in this Section
3 that are outstanding with respect to any Transfer Restricted Security at the
time such security ceases to be a Transfer Restricted Security shall survive
until such time as all such

                                       8

obligations with respect to such Transfer Restricted Security shall have been
satisfied in full.

     The Additional Amounts set forth above shall be the exclusive monetary
remedy available to the Holders of Transfer Restricted Securities for each
Registration Default.

     4.   Registration Procedures.

          (a) In connection with the Shelf Registration Statement, the Company
     and the Guarantors shall comply with all the provisions of Section 4(b)
     hereof and shall use reasonable efforts to effect such registration to
     permit the sale of the Transfer Restricted Securities, and pursuant
     thereto, shall as expeditiously as possible prepare and file with the
     Commission a Shelf Registration Statement relating to the registration on
     any appropriate form under the Securities Act.

          (b) In connection with the Shelf Registration Statement and any
     Prospectus required by this Agreement to permit the sale or resale of
     Transfer Restricted Securities, the Company and the Guarantors shall:

               (i) Subject to any notice by the Company or the Guarantors in
          accordance with this Section 4(b) of the existence of any fact or
          event of the kind described in Section 4(b)(iii)(D), use reasonable
          efforts to keep the Shelf Registration Statement continuously
          effective during the Effectiveness Period; upon the occurrence of any
          event that would cause the Shelf Registration Statement or the
          Prospectus contained therein (A) to contain a material misstatement or
          omission or (B) not to be effective and usable for resale of Transfer
          Restricted Securities during the Effectiveness Period, the Company
          and/or the Guarantors shall use reasonable efforts to file promptly an
          appropriate amendment to the Shelf Registration Statement, a
          supplement to the Prospectus or a report filed with the Commission
          pursuant to Section 13(a), 13(c), 14 or 15(d) of the Exchange Act, in
          the case of clause (A), correcting any such misstatement or omission,
          and, in the case of either clause (A) or (B), use reasonable efforts
          to cause such amendment to be declared effective and the Shelf
          Registration Statement and the related Prospectus to become usable for
          their intended purposes as soon as practicable thereafter.
          Notwithstanding the foregoing, the Company may suspend the
          effectiveness of the Shelf Registration Statement by written notice to
          the Holders for a period not to exceed an aggregate of 30 days in any
          90-day period (each such period, a "Suspension Period") upon:

               (x) the occurrence or existence of any fact or the happening of
          any event as a result of which the Shelf Registration Statement, the
          Prospectus, any amendment or supplement thereto, or any document
          incorporated by reference therein would, in the Company's judgment,
          contain an untrue statement of a material fact or omit to state a
          material

                                       9

          fact required to be stated therein or necessary to make the
          statements therein not misleading; and

               (y) the occurrence or existence of any corporate development
          that, in the Company's judgment, makes it appropriate to suspend the
          effectiveness of the Shelf Registration Statement;

     provided that the Company and the Guarantors will use their reasonable
     efforts to ensure that the use of the Prospectus may be resumed (A) in the
     case of clause (x) above, as soon as, in the judgment of the Company,
     public disclosure of such fact or event would not be prejudicial to or
     contrary to the interests of the Company or, if necessary to avoid
     unreasonable burden or expense, as soon as practicable thereafter and (B)
     in the case of clause (y) above, as soon as, in the judgment of the
     Company, such suspension is no longer appropriate; provided, however, that
     Suspension Periods shall not exceed an aggregate of 90 days in any 360-day
     period; provided further that the Company may not suspend the effectiveness
     of the Shelf Registration Statement to avoid its obligations hereunder. The
     Company shall not be required to specify in the written notice to the
     Holders the nature of the event giving rise to the Suspension Period.

               (ii) Prepare and file with the Commission such amendments and
          post-effective amendments to the Shelf Registration Statement as may
          be necessary to keep the Shelf Registration Statement effective during
          the Effectiveness Period; cause the Prospectus to be supplemented by
          any required Prospectus supplement, and as so supplemented to be filed
          pursuant to Rule 424 under the Securities Act, and to comply fully
          with the applicable provisions of Rules 424 and 430A under the
          Securities Act in a timely manner; and comply with the provisions of
          the Securities Act with respect to the disposition of all Debentures
          or shares of Common Stock covered by the Shelf Registration Statement
          during the applicable period in accordance with the intended method or
          methods of distribution by the sellers thereof set forth in the Shelf
          Registration Statement or supplement to the Prospectus.

               (iii) Advise the selling Holders promptly and, if requested by
          such selling Holders, to confirm such advice in writing, except as
          provided in clause (D) below:

                    (A) when the Prospectus or any Prospectus supplement or
               post-effective amendment has been filed, and, with respect to the
               Shelf Registration Statement or any post-effective amendment
               thereto, when the same has become effective,

                    (B) of any request by the Commission for amendments to the
               Shelf Registration Statement or amendments or supplements to the
               Prospectus or for additional information relating thereto,

                                       10

                    (C) of the issuance by the Commission of any stop order
               suspending the effectiveness of the Shelf Registration Statement
               under the Securities Act or of the suspension by any state
               securities commission of the qualification of the Transfer
               Restricted Securities for offering or sale in any jurisdiction,
               or the initiation of any proceeding for any of the preceding
               purposes, or

                    (D) of the existence of any fact or the happening of any
               event, during the Effectiveness Period, that makes any statement
               of a material fact made in the Shelf Registration Statement, the
               Prospectus, any amendment or supplement thereto, or any document
               incorporated by reference therein untrue, or that requires the
               making of any additions to or changes in the Shelf Registration
               Statement or the Prospectus in order to make the statements
               therein not misleading.

          If at any time the Commission shall issue any stop order suspending
     the effectiveness of the Shelf Registration Statement, or any state
     securities commission or other regulatory authority shall issue an order
     suspending the qualification or exemption from qualification of the
     Transfer Restricted Securities under state securities or Blue Sky laws, the
     Company and the Guarantors shall use their reasonable efforts to obtain the
     withdrawal or lifting of such order at the earliest possible time and will
     provide to each Holder who is named in the Shelf Registration Statement
     prompt notice of the withdrawal of any such order.

               (iv) Make available at reasonable times for inspection by one or
          more representatives of the selling Holders, designated in writing by
          a Majority of Holders whose Transfer Restricted Securities are
          included in the Shelf Registration Statement, and any attorney or
          accountant retained by such selling Holders, all relevant financial
          and other records, pertinent corporate documents and properties of the
          Company and the Guarantors as shall be reasonably necessary to enable
          them to conduct a reasonable investigation within the meaning of
          Section 11 of the Securities Act, and cause the Company's officers,
          directors, managers and employees to supply all information reasonably
          requested by any such representative or representatives of the selling
          Holders, attorney or accountant in connection therewith, in each case,
          as is customary for similar "due diligence" examinations; provided
          that any information that is designated by the Company as confidential
          at the time of delivery of such information shall be kept confidential
          by such persons, unless disclosure thereof is made in connection with
          a court, administrative or regulatory proceeding or required by law,
          or such information has become available to the public generally
          through the Company or through a third party without an accompanying
          obligation of confidentiality.

               (v) Ensure that the "Plan of distribution" of the Shelf
          Registration Statement will permit resales of Transfer Restricted
          Securities covered by

                                       11

          the Shelf Registration Statement through securities brokers and
          dealers and if requested by any selling Holders, promptly incorporate
          in the Shelf Registration Statement or Prospectus, pursuant to a
          supplement or post-effective amendment if necessary, such information
          as such selling Holders may reasonably request to have included
          therein, including, without limitation, information relating to the
          "Plan of distribution" of the Transfer Restricted Securities.

               (vi) Furnish to each selling Holder upon their request, without
          charge, at least one copy of the Shelf Registration Statement, as
          first filed with the Commission, and of each amendment thereto (and
          any documents incorporated by reference therein or exhibits thereto
          (or exhibits incorporated in such exhibits by reference) as such
          Person may request in writing).

               (vii) Deliver to each selling Holder, without charge, as many
          copies of the Prospectus (including each preliminary Prospectus) and
          any amendment or supplement thereto as such Persons reasonably may
          request; subject to any notice by the Company or the Guarantors in
          accordance with this Section 4(b) of the existence of any fact or
          event of the kind described in Section 4(b)(iii)(D), the Company and
          the Guarantors hereby consent to the use of the Prospectus and any
          amendment or supplement thereto by each of the selling Holders in
          connection with the offering and the sale of the Transfer Restricted
          Securities covered by the Prospectus or any amendment or supplement
          thereto.

               (viii) Before any public offering of Transfer Restricted
          Securities, cooperate with the selling Holders and their counsel in
          connection with the registration and qualification of the Transfer
          Restricted Securities under the securities or Blue Sky laws of such
          jurisdictions in the United States as the selling Holders may
          reasonably request and do any and all other acts or things necessary
          or advisable to enable the disposition in such jurisdictions of the
          Transfer Restricted Securities covered by the Shelf Registration
          Statement; provided, however, that neither the Company nor the
          Guarantors shall be required (A) to register or qualify as a foreign
          corporation or a dealer of securities where it is not now so qualified
          or to take any action that would subject it to the service of process
          in any jurisdiction where it is not now so subject or (B) to subject
          itself to general or unlimited service of process or to taxation in
          any such jurisdiction if they are not now so subject.

               (ix) Cooperate with the selling Holders to facilitate the timely
          preparation and delivery of certificates representing Transfer
          Restricted Securities, to the extent certificated securities are
          available pursuant to the terms of the Indenture at that time, to be
          sold pursuant to the Shelf Registration Statement and not bearing any
          restrictive legends (unless

                                       12

          required by applicable securities laws); and enable such Transfer
          Restricted Securities to be in such denominations and registered in
          such names as the Holders may request at least two Business Days
          before any sale of Transfer Restricted Securities.

               (x) Use their reasonable efforts to cause the Transfer Restricted
          Securities covered by the Shelf Registration Statement to be
          registered with or approved by such other U.S. governmental agencies
          or authorities as may be necessary to enable the seller or sellers
          thereof to consummate the disposition of such Transfer Restricted
          Securities.

               (xi) Subject to Section 4(b)(i) hereof, if any fact or event
          contemplated by Section 4(b)(iii)(D) hereof shall exist or have
          occurred, use their reasonable efforts to prepare a supplement or
          post-effective amendment to the Shelf Registration Statement or
          related Prospectus or any document incorporated therein by reference
          or file any other required document so that, as thereafter delivered
          to the purchasers of Transfer Restricted Securities, the Prospectus
          will not contain an untrue statement of a material fact or omit to
          state any material fact required to be stated therein or necessary to
          make the statements therein, in light of the circumstances in which
          they are made, not misleading.

               (xii) Provide CUSIP numbers for all Transfer Restricted
          Securities not later than the effective date of the Shelf Registration
          Statement and provide the Trustee under the Indenture with
          certificates for the Debentures that are in a form eligible for
          deposit with The Depository Trust Company.

               (xiii) Cooperate and assist in any filings required to be made
          with the NASD and in the performance of any due diligence
          investigation by any underwriter that is required to be retained in
          accordance with the rules and regulations of the NASD.

               (xiv) Otherwise use their efforts to comply with all applicable
          rules and regulations of the Commission and all reporting requirements
          under the rules and regulations of the Exchange Act.

               (xv) Cause the Indenture to be qualified under the TIA not later
          than the effective date of the Shelf Registration Statement required
          by this Agreement, and, in connection therewith, cooperate with the
          Trustee and the holders of Debentures to effect such changes to the
          Indenture as may be required for such Indenture to be so qualified in
          accordance with the terms of the TIA; and execute and use its
          reasonable efforts to cause the Trustee thereunder to execute all
          documents that may be required to effect such changes and all other
          forms and documents required to be filed with the Commission to enable
          such Indenture to be so qualified in a timely manner.

                                       13

               (xvi) Use reasonable efforts to cause all Common Stock covered by
          the Shelf Registration Statement to be listed or quoted, as the case
          may be, on each securities exchange or automated quotation system on
          which Common Stock is then listed or quoted.

               (xvii) Provide to each Holder notice of the filing and
          effectiveness of the Shelf Registration Statement and, upon written
          request, each document filed with the Commission pursuant to the
          requirements of Section 13 and Section 15 of the Exchange Act after
          the effective date of the Shelf Registration Statement, unless such
          document is available through the Commission's EDGAR system.

          (c) Each Holder agrees by acquisition of a Transfer Restricted
     Security that, upon receipt of any notice (a "Suspension Notice") from the
     Company of the existence of any fact of the kind described in Section
     4(b)(iii)(D) hereof, such Holder will forthwith discontinue disposition of
     Transfer Restricted Securities pursuant to the Shelf Registration Statement
     until:

               (i) such Holder has received copies of the supplemented or
          amended Prospectus contemplated by Section 4(b)(xi) hereof; or

               (ii) such Holder is advised in writing by the Company that the
          use of the Prospectus may be resumed, and has received copies of any
          additional or supplemental filings that are incorporated by reference
          in the Prospectus.

     If so directed by the Company, each Holder will deliver to the Company (at
the Company's expense) all copies, other than permanent file copies then in such
Holder's possession, of the Prospectus covering such Transfer Restricted
Securities that was current at the time of receipt of such Suspension Notice.

          (d) Each Holder agrees by acquisition of a Transfer Restricted
     Security, that no Holder shall be entitled to sell any of such Transfer
     Restricted Securities pursuant to a Shelf Registration Statement, or to
     receive a Prospectus relating thereto, unless such Holder has furnished the
     Company with a Notice and Questionnaire as required pursuant to Section
     2(e) hereof (including the information required to be included in such
     Notice and Questionnaire) and the information set forth in the next
     sentence. Each Notice Holder agrees promptly to furnish to the Company all
     information required to be disclosed in order to make the information
     previously furnished to the Company by such Notice Holder not misleading
     and any other information regarding such Notice Holder and the distribution
     of such Transfer Restricted Securities as the Company may from time to time
     reasonably request in writing. Any sale of any Transfer Restricted
     Securities by any Holder shall constitute a representation and warranty by
     such Holder that the information relating to such Holder and its plan of
     distribution is as set forth in the Prospectus delivered by such Holder in
     connection with such disposition, that such Prospectus does not as of the
     time of such sale contain any

                                       14

     untrue statement of a material fact relating to or provided by such Holder
     to its plan of distribution and that such Prospectus does not as of the
     time of such sale omit to state any material fact relating to or provided
     by such Holder or its plan of distribution necessary to make the statements
     in such Prospectus, in the light of the circumstances under which they were
     made not misleading.

     5.   Registration Expenses.

     All expenses incident to the Company's and the Guarantors' performance of
or compliance with this Agreement shall be borne by the Company and the
Guarantors regardless of whether a Shelf Registration Statement becomes
effective, including, without limitation:

               (i) all registration and filing fees and expenses (including
          filings made with the NASD);

               (ii) all fees and expenses of compliance with federal securities
          and state Blue Sky or securities laws;

               (iii) all expenses of printing (including printing of
          Prospectuses and certificates for the Common Stock to be issued upon
          conversion of the Debentures) and the Company's and the Guarantors'
          expenses for messenger and delivery services and telephone;

               (iv) all fees and disbursements of counsel to the Company and the
          Guarantors;

               (v) all application and filing fees in connection with listing
          (or authorizing for quotation) the Common Stock on a national
          securities exchange or automated quotation system pursuant to the
          requirements hereof; and

               (vi) all fees and disbursements of independent certified public
          accountants of the Company and the Guarantors.

     The Company and the Guarantors shall bear their internal expenses
(including, without limitation, all salaries and expenses of their officers and
employees performing legal, accounting or other duties), the expenses of any
annual audit and the fees and expenses of any Person, including special experts,
retained by the Company and the Guarantors. Each selling Holder shall pay all
underwriting discounts and commissions and transfer taxes, if any, and the
expenses of its own counsel, relating to the sale or disposition of such selling
Holder's Transfer Restricted Securities.

     6.   Indemnification and Contribution.

          (a) The Company and the Guarantors agree to, jointly and severally,
     indemnify and hold harmless each Holder of Transfer Restricted Securities
     covered by the Shelf Registration Statement (including each Initial
     Purchaser),

                                       15

     and its directors, officers, and employees and each person, if any, who
     controls any such Holder within the meaning of Section 15 of the Securities
     Act or Section 20 of the Exchange Act (each, an "Indemnified Holder"),
     against any loss, claim, damage, liability or expense, joint or several, or
     any action in respect thereof (including, but not limited to, any loss,
     claim, damage, liability or action relating to resales of the Transfer
     Restricted Securities), to which such Indemnified Holder may become
     subject, insofar as any such loss, claim, damage, liability or action
     arises out of, or is based upon:

               (i) any untrue statement or alleged untrue statement of a
          material fact contained in the Shelf Registration Statement as
          originally filed or in any amendment thereof, in any Prospectus, or in
          any amendment or supplement thereto; or

               (ii) the omission or alleged omission to state therein any
          material fact required to be stated therein or necessary to make the
          statements therein, in the light of the circumstances under which they
          were made, not misleading,

and agrees to reimburse each Indemnified Holder promptly upon demand for any
legal or other expenses reasonably incurred by such Indemnified Holder in
connection with investigating, defending, settling, compromising or paying any
such loss, claim, damage, liability, expense or action; except insofar as such
losses, claims, damages or liabilities arise out of, or are based upon, any
untrue statement or omission or alleged untrue statement or omission made in
reliance upon and in conformity with any information relating to any Initial
Purchaser or information relating to any Holder furnished to the Company in
writing through the Representatives or any Notice Holder expressly for use
therein; provided, that with respect to any such untrue statement in or omission
from any preliminary prospectus, the indemnity agreement contained in this
Section 6(a) shall not inure to the benefit of any Initial Purchaser or any
Holder to the extent that the sale to the person asserting any such losses,
claims, damages or liability was an initial resale by such Initial Purchaser or
Holder and any such losses, claims, damages or liability of or with respect to
such Initial Purchaser or Holder results from the fact that both (i) a copy of
the final prospectus that was required to be sent or given to such person was
not sent or given to such a person at or prior to the written confirmation of
the sale of Debentures to such person and (ii) the untrue statement in or
omission from the related preliminary prospectus was corrected in the final
prospectus unless, in either case, such failure to deliver the final prospectus
in a timely manner was a result of non-compliance by the Company or the
Guarantors with the provisions of Section 4(b)(vi) and (vii). The foregoing
indemnity agreement is in addition to any liability which the Company or the
Guarantors may otherwise have.

          (b) Each Holder, severally and not jointly, agrees to indemnify and
     hold harmless the Company and the Guarantors, their respective directors,
     officers and employees and each person, if any, who controls the Company or
     the Guarantors within the meaning of Section 15 of the Securities Act or
     Section 20 of the Exchange Act to the same extent as the foregoing
     indemnity from the Company

                                       16

     and the Guarantors to each such Holder, but only with reference to written
     information relating to such Holder furnished to the Company
     and the Guarantors by or on behalf of such Holder specifically for
     inclusion in the documents referred to in the foregoing indemnity. This
     indemnity agreement set forth in this Section shall be in addition to any
     liabilities which any such Holder may otherwise have. In no event shall any
     Holder, its directors, officers or any person who controls such Holder be
     liable or responsible for any amount in excess of the amount by which the
     total amount received by such Holder with respect to its sale of Transfer
     Restricted Securities pursuant to a Shelf Registration Statement exceeds
     (i) the amount paid by such Holder for such Transfer Restricted Securities
     and (ii) the amount of any damages that such Holder, its directors,
     officers or any person who controls such Holder has otherwise been required
     to pay by reason of such untrue or alleged untrue statement or omission or
     alleged omission.

          (c) Promptly after receipt by an indemnified party under this Section
     6 of notice of any claim or the commencement of any action, the indemnified
     party shall, if a claim in respect thereof is to be made against the
     indemnifying party under this Section 6, notify the indemnifying party in
     writing of the claim or the commencement of that action; provided, however,
     that the failure to notify the indemnifying party shall not relieve it from
     any liability which it may have under this Section 6 except to the extent
     it has been materially prejudiced by such failure and, provided, further,
     that the failure to notify the indemnifying party shall not relieve it from
     any liability which it may have to an indemnified party otherwise than
     under this Section 6. If any such claim or action shall be brought against
     an indemnified party, and it shall notify the indemnifying party thereof,
     the indemnifying party shall be entitled to participate therein and, to the
     extent that it wishes, jointly with any other similarly notified
     indemnifying party, to assume the defense thereof with counsel reasonably
     satisfactory to the indemnified party. After notice from the indemnifying
     party to the indemnified party of its election to assume the defense of
     such claim or action, the indemnifying party shall not be liable to the
     indemnified party under this Section 6 for any legal or other expenses
     subsequently incurred by the indemnified party in connection with the
     defense thereof other than reasonable costs of investigation; provided,
     however, that the Holders shall have the right to employ a single counsel
     to represent jointly the Holders and their officers, employees and
     controlling persons who may be subject to liability arising out of any
     claim in respect of which indemnity may be sought by the Holders against
     the Company or the Guarantors under this Section 6 if the Holders seeking
     indemnification shall have been advised by legal counsel that there may be
     one or more legal defenses available to such Holders and their respective
     officers, employees and controlling persons that are different from or
     additional to those available to the Company or the Guarantors, and in that
     event, the fees and expenses of such separate counsel shall be paid by the
     Company or the Guarantors.

          (d) The indemnifying party under this Section shall not be liable for
     any settlement of any proceeding effected without its written consent,
     which shall not be withheld unreasonably, but if settled with such consent
     or if there is a final

                                       17

     judgment for the plaintiff, the indemnifying party agrees to indemnify the
     indemnified party against any loss, claim, damage, liability or expense by
     reason of such settlement or judgment. Notwithstanding the foregoing
     sentence, if at any time an indemnified party shall have requested an
     indemnifying party to reimburse the indemnified party for fees and expenses
     of counsel as contemplated by Section 6(c) hereof, the indemnifying party
     agrees that it shall be liable for any settlement of any proceeding
     effected without its written consent if (i) such settlement is entered into
     more than 45 days after receipt by such indemnifying party of the aforesaid
     request and (ii) such indemnifying party shall not have (A) reimbursed the
     indemnified party in accordance with such request prior to the date of such
     settlement; or (B) delivered notice to the indemnified party of its good
     faith objection to such claim of indemnification within 45 days after
     receipt by such indemnifying party of the aforesaid request. No
     indemnifying party shall, without the prior written consent of the
     indemnified party (which consent shall not be unreasonably withheld),
     effect any settlement, compromise or consent to the entry of judgment in
     any pending or threatened action, suit or proceeding in respect of which
     any indemnified party is or could have been a party and indemnity was or
     could have been sought hereunder by such indemnified party, unless such
     settlement, compromise or consent (x) includes an unconditional release of
     such indemnified party from all liability on claims that are the subject
     matter of such action, suit or proceeding and (y) does not include a
     statement as to or an admission of fault, culpability or a failure to act
     by or on behalf of any indemnified party.

          (e) If the indemnification provided for in this Section 6 shall for
     any reason be unavailable or insufficient to hold harmless an indemnified
     party under Section 6(a) or 6(b) in respect of any loss, claim, damage or
     liability (or action in respect thereof) referred to therein, each
     indemnifying party shall, in lieu of indemnifying such indemnified party,
     contribute to the amount paid or payable by such indemnified party as a
     result of such loss, claim, damage or liability (or action in respect
     thereof):

               (i) in such proportion as is appropriate to reflect the relative
          benefits received by the Company and the Guarantors from the offering
          and sale of the Transfer Restricted Securities on the one hand and a
          Holder with respect to the sale by such Holder of the Transfer
          Restricted Securities on the other, or

               (ii) if the allocation provided by Section (6)(d)(i) is not
          permitted by applicable law, in such proportion as is appropriate to
          reflect not only the relative benefits referred to in Section 6(d)(i)
          but also the relative fault of the Company and the Guarantors on the
          one hand and the Holders on the other in connection with the
          statements or omissions or alleged statements or alleged omissions
          that resulted in such loss, claim, damage or liability (or action in
          respect thereof), as well as any other relevant equitable
          considerations.

                                       18

The relative benefits received by the Company and the Guarantors on the one hand
and a Holder on the other with respect to such offering and such sale shall be
deemed to be in the same proportion as the total net proceeds from the offering
of the Debentures purchased under the Purchase Agreement (before deducting
expenses) received by the Company and the Guarantors, on the one hand, bear to
the total proceeds received by such Holder with respect to its sale of Transfer
Restricted Securities on the other. The relative fault of the parties shall be
determined by reference to whether the untrue or alleged untrue statement of a
material fact or the omission or alleged omission to state a material fact
relates to information supplied by the Company and the Guarantors on the one
hand or the Holders on the other, the intent of the parties and their relative
knowledge, access to information and opportunity to correct or prevent such
statement or omission. The Company, the Guarantors and each Holder agree that it
would not be just and equitable if the amount of contribution pursuant to this
Section 6(d) were determined by pro rata allocation or by any other method of
allocation that does not take into account the equitable considerations referred
to in the first sentence of this paragraph (d).

     The amount paid or payable by an indemnified party as a result of the loss,
claim, damage or liability, or action in respect thereof, referred to above in
this Section 6 shall be deemed to include, for purposes of this Section 6, any
legal or other expenses reasonably incurred by such indemnified party in
connection with investigating or defending or preparing to defend any such
action or claim.

     Notwithstanding the provisions of this Section 6, no Holder shall be
required to contribute any amount in excess of the amount by which the total
price at which the Transfer Restricted Securities purchased by it were resold
exceeds the amount of any damages which such Holder has otherwise been required
to pay by reason of any untrue or alleged untrue statement or omission or
alleged omission. No Person guilty of fraudulent misrepresentation (within the
meaning of Section 11(f) of the Securities Act) shall be entitled to
contribution from any Person who was not guilty of such fraudulent
misrepresentation. The Holders' obligations to contribute as provided in this
Section 6(d) are several and not joint.

          (f) The provisions of this Section 6 shall remain in full force and
     effect, regardless of any termination or cancellation of this Agreement or
     investigation made by or on behalf of any Holder, the Company, or the
     Guarantors or any of the officers, directors or controlling persons
     referred to in Section 6 hereof, and will survive the sale by a Holder of
     Transfer Restricted Securities.

     7. Rule 144A and Rule 144. The Company and the Guarantors agree with each
Holder, for so long as any Transfer Restricted Securities remain outstanding and
during any period in which the Company or the Guarantors (i) are not subject to
Section 13 or 15(d) of the Exchange Act, to make available, upon request of any
Holder, to such Holder or beneficial owner of Transfer Restricted Securities in
connection with any sale thereof and any prospective purchaser of such Transfer
Restricted Securities designated by such Holder or beneficial owner, the
information required by Rule 144A(d)(4) under the Securities Act in order to
permit resales of such Transfer Restricted Securities pursuant to Rule 144A, and
(ii) are subject to Section 13 or 15 (d) of the Exchange Act,

                                       19

to make all filings required thereby in a timely manner in order to permit
resales of such Transfer Restricted Securities pursuant to Rule 144.

     8. No Participation in Underwritten Registrations. No Holder may
participate in any Underwritten Registration hereunder.

     9. Miscellaneous.

          (a) Remedies. The Company and the Guarantors acknowledge and agree
     that any failure by the Company or the Guarantors to comply with their
     obligations under Section 2 hereof may result in material irreparable
     injury to the Initial Purchasers or the Holders for which there is no
     adequate remedy at law, that it will not be possible to measure damages for
     such injuries precisely, and that, in the event of any such failure, the
     Initial Purchasers or any Holder may obtain such relief as may be required
     to specifically enforce the Company's and the Guarantors' obligations under
     Section 2 hereof. The Company and the Guarantors further agree to waive the
     defense in any action for specific performance that a remedy at law would
     be adequate.

          (b) Actions Affecting Transfer Restricted Securities. Neither the
     Company nor the Guarantors shall, directly or indirectly, take any action
     with respect to the Transfer Restricted Securities as a class that would
     adversely affect the ability of the Holders of Transfer Restricted
     Securities to include such Transfer Restricted Securities in a registration
     undertaken pursuant to this Agreement.

          (c) No Inconsistent Agreements. The Company and the Guarantors have
     not, as of the date hereof, entered into, nor shall either of them, on or
     after the date hereof, enter into, any agreement with respect to their
     securities that is inconsistent with the rights granted to the Holders in
     this Agreement or otherwise conflicts with the provisions hereof. In
     addition, the Company and the Guarantors shall not on or after the date
     hereof grant to any of their securityholders (other than the Holders of
     Transfer Restricted Securities in such capacity) the right to include any
     of their securities in the Shelf Registration Statement provided for in
     this Agreement other than the Transfer Restricted Securities.

          (d) Amendments and Waivers. This Agreement may not be amended,
     modified or supplemented, and waivers or consents to or departures from the
     provisions hereof may not be given, unless the Company has obtained the
     written consent of a Majority of Holders; provided, however, that with
     respect to any matter that directly or indirectly adversely affects the
     rights of any Initial Purchaser hereunder, the Company shall obtain the
     written consent of each such Initial Purchaser against which such
     amendment, qualification, supplement, waiver or consent is to be effective.
     Notwithstanding the foregoing (except the foregoing proviso), a waiver or
     consent to depart from the provisions hereof, with respect to a matter,
     which relates exclusively to the rights of Holders whose securities are
     being sold pursuant to a Shelf Registration Statement and does not

                                       20

     directly or indirectly adversely affect the rights of other Holders, may be
     given by the Majority of Holders, determined on the basis of Debentures
     being sold rather than registered under such Shelf Registration Statement.

          (e) Notices. All notices and other communications provided for or
     permitted hereunder shall be made in writing by hand delivery, first class
     mail (registered or certified, return receipt requested), telex, facsimile
     transmission, or air courier guaranteeing overnight delivery:

               (i) if to a Holder, at the address set forth on the records of
          the registrar under the Indenture or the transfer agent of the Common
          Stock, as the case may be; and

               (ii) if to the Company or the Guarantors, initially at its
          address set forth in the Purchase Agreement.

     All such notices and communications shall be deemed to have been duly
given: at the time delivered by hand, if personally delivered; 5 Business Days
after being deposited in the mail, postage prepaid, if mailed; when answered
back, if telexed; when receipt acknowledged, if transmitted by facsimile; and on
the next Business Day, if timely delivered to an air courier guaranteeing
overnight delivery.

     Any party hereto may change the address for receipt of communications by
giving written notice to the others in accordance with the provisions of this
Section 9(e).

          (f) Successors and Assigns. This Agreement shall inure to the benefit
     of and be binding upon the successors and assigns of each of the parties,
     including without limitation and without the need for an express
     assignment, subsequent Holders of Transfer Restricted Securities. The
     Company and the Guarantors hereby agree to extend the benefit of this
     Agreement to any Holder and any such Holder may specifically enforce the
     provisions of this Agreement as if an original party hereto.

          (g) Counterparts. This Agreement may be executed in any number of
     counterparts and by the parties hereto in separate counterparts, each of
     which when so executed shall be deemed to be an original and all of which
     taken together shall constitute one and the same agreement.

          (h) Debentures Held by the Company or Their Affiliates. Whenever the
     consent or approval of Holders of a specified percentage of Transfer
     Restricted Securities is required hereunder, Transfer Restricted Securities
     held by the Company or its Affiliates (other than subsequent Holders if
     such subsequent Holders are deemed to be Affiliates solely by reason of
     their holding of such Debentures) shall not be counted in determining
     whether such consent or approval was given by the Holders of such required
     percentage.

          (i) Headings. The headings in this Agreement are for convenience of
     reference only and shall not limit or otherwise affect the meaning hereof.

                                       21

          (j) Governing Law. This Agreement shall be governed by and construed
     in accordance with the law of the State of New York.

          (k) Severability. If any one or more of the provisions contained
     herein, or the application thereof in any circumstance, is held invalid,
     illegal or unenforceable, the validity, legality and enforceability of any
     such provision in every other respect and of the remaining provisions
     contained herein shall not be affected or impaired thereby, it being
     intended that all of the rights and privileges of the parties shall be
     enforceable to the fullest extent permitted by law.

          (l) Entire Agreement. This Agreement is intended by the parties as a
     final expression of their agreement and intended to be a complete and
     exclusive statement of the agreement and understanding of the parties
     hereto in respect of the subject matter contained herein. There are no
     restrictions, promises, warranties or undertakings, other than those set
     forth or referred to herein with respect to the registration rights granted
     by the Company and the Guarantors with respect to the Transfer Restricted
     Securities. This Agreement supersedes all prior agreements and
     understandings between the parties with respect to such subject matter.

                                       22

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

                                          SCIENTIFIC GAMES CORPORATION,

                                          by /s/ DeWayne E. Laird
                                             -----------------------------------
                                             Name:  DeWayne E. Laird
                                             Title: Vice President of Finance
                                                    and CFO

                                          SCIENTIFIC GAMES MANAGEMENT
                                          CORPORATION,

                                          by /s/ DeWayne E. Laird
                                             -----------------------------------
                                             Name:  DeWayne E. Laird
                                             Title: Vice President

                                          SCIENTIFIC GAMES HOLDINGS CORPORATION,

                                          by /s/ DeWayne E. Laird
                                             -----------------------------------
                                             Name:  DeWayne E. Laird
                                             Title: Vice President

                                          SCIENTIFIC GAMES (GREECE), INC.,

                                          by /s/ DeWayne E. Laird
                                             -----------------------------------
                                             Name:  DeWayne E. Laird
                                             Title: Vice President

                                          SCIENTIFIC GAMES ACQUISITION, INC.,

                                          by /s/ DeWayne E. Laird
                                             -----------------------------------
                                             Name:  DeWayne E. Laird
                                             Title: Vice President

                                          SCIENTIFIC GAMES FINANCE CORPORATION,

                                          by /s/ C. Gray Bethea, Jr.
                                             -----------------------------------
                                             Name:  C. Gray Bethea, Jr.
                                             Title: Vice President and Secretary

                                          SCIENTIFIC GAMES INTERNATIONAL, INC.,

                                          by /s/ DeWayne E. Laird
                                             -----------------------------------
                                             Name:  DeWayne E. Laird
                                             Title: Vice President

                                          MDI Entertainment, LLC,

                                          by /s/ DeWayne E. Laird
                                             -----------------------------------
                                             Name:  DeWayne E. Laird
                                             Title: Vice President of Scientific
                                                    Games International Inc.,
                                                    Manager of MDI
                                                    Entertainment, LLC

                                          SCIENTIFIC GAMES ROYALTY CORPORATION,

                                          by /s/ C. Gray Bethea, Jr.
                                             -----------------------------------
                                             Name:  C. Gray Bethea, Jr.
                                             Title: Vice President and Secretary

                                          SCIENTIFIC GAMES RACING, LLC,

                                          by /s/ Martin E. Schloss
                                             -----------------------------------
                                             Name:  Martin E. Schloss
                                             Title: Vice President and Secretary

                                          AUTOTOTE INTERNATIONAL, INC.,

                                          by /s/ DeWayne E. Laird
                                             -----------------------------------
                                             Name:  DeWayne E. Laird
                                             Title: Vice President and Treasurer

                                          SG RACING, INC.,

                                          by /s/ DeWayne E. Laird
                                             -----------------------------------
                                             Name:  DeWayne E. Laird
                                             Title: Vice President and Treasurer

                                          AUTOTOTE ENTERPRISES, INC.,

                                          by /s/ DeWayne E. Laird
                                             -----------------------------------
                                             Name:  DeWayne E. Laird
                                             Title: Vice President

                                          AUTOTOTE KENO CORPORATION,

                                          by /s/ DeWayne E. Laird
                                             -----------------------------------
                                             Name:  DeWayne E. Laird
                                             Title: Vice President and Treasurer

                                          AUTOTOTE GAMING, INC.,

                                          by /s/ DeWayne E. Laird
                                             -----------------------------------
                                             Name:  DeWayne E. Laird
                                             Title: Vice President and Treasurer

                                          AUTOTOTE DOMINICANA INC.,

                                          by /s/ DeWayne E. Laird
                                             -----------------------------------
                                             Name:  DeWayne E. Laird
                                             Title: Vice President and Treasurer

                                          AUTOTOTE INTERACTIVE, INC.,

                                          by /s/ DeWayne E. Laird
                                             -----------------------------------
                                             Name:  DeWayne E. Laird
                                             Title: Vice President and Treasurer

                                          SCIENTIFIC GAMES ONLINE ENTERTAINMENT
                                          SYSTEMS, INC.,

                                          by /s/ DeWayne E. Laird
                                             -----------------------------------
                                             Name:  DeWayne E. Laird
                                             Title: Vice President

Confirmed and accepted as of the date first above written:

J.P. MORGAN SECURITIES INC.

For itself and on behalf of the
several Initial Purchasers

By /s/ Michael K. Ryan
   ---------------------------
      Authorized Signatory

BEAR, STEARNS & CO. INC.

For itself and on behalf of the
several Initial Purchasers

By /s/ Paul S. Rosica
   ---------------------------
      Authorized Signatory

                              Subsidiary Guarantors
                              ---------------------

------------------------------------------------------------------------------------------
                                                            State or Other Jurisdiction
                                                            of Incorporation or
Subsidiary Name                                             Organization
------------------------------------------------------------------------------------------

Scientific Games Management Corporation                     Delaware
------------------------------------------------------------------------------------------
Scientific Games Holdings Corp.                             Delaware
------------------------------------------------------------------------------------------
Scientific Games (Greece), Inc.                             Delaware
------------------------------------------------------------------------------------------
Scientific Games Acquisition, Inc.                          Delaware
------------------------------------------------------------------------------------------
Scientific Games Finance Corporation                        Delaware
------------------------------------------------------------------------------------------
Scientific Games International, Inc.                        Delaware
------------------------------------------------------------------------------------------
MDI Entertainment, LLC                                      Delaware
------------------------------------------------------------------------------------------
Scientific Games Royalty Corporation                        Delaware
------------------------------------------------------------------------------------------
Scientific Games Racing, LLC                                Delaware
------------------------------------------------------------------------------------------
Autotote International, Inc.                                Delaware
------------------------------------------------------------------------------------------
SG Racing, Inc.                                             Delaware
------------------------------------------------------------------------------------------
Autotote Enterprises, Inc.                                  Connecticut
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Autotote Keno Corporation                                   Nebraska
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Autotote Gaming, Inc.                                       Nevada
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Autotote Dominicana Inc.                                    Delaware
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Autotote Interactive, Inc.                                  Delaware
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Scientific Games Online Entertainment Systems, Inc.         Delaware
------------------------------------------------------------------------------------------UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION ("DTC"), NEW YORK, NEW YORK, TO
THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND
ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER
NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS
MADE TO CEDE & CO., OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC) ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR
OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER
HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.

TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT
NOT IN PART, TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR'S
NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO
TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE INDENTURE
REFERRED TO ON THE REVERSE HEREOF.

THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED (THE "SECURITIES ACT"), OR THE SECURITIES LAWS OF ANY STATE OR OTHER
JURISDICTION. NEITHER THIS SECURITY NOR ANY INTEREST OR PARTICIPATION HEREIN MAY
BE REOFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE
DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR UNLESS SUCH TRANSACTION IS
EXEMPT FROM, OR NOT SUBJECT TO, SUCH REGISTRATION. THE HOLDER OF THIS SECURITY,
BY ITS ACCEPTANCE HEREOF, (1) REPRESENTS THAT IT IS A "QUALIFIED INSTITUTIONAL
BUYER" (AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT ("RULE 144A")); (2)
AGREES ON ITS OWN BEHALF AND ON BEHALF OF ANY INVESTOR ACCOUNT FOR WHICH IT HAS
PURCHASED SECURITIES, TO OFFER, SELL OR OTHERWISE TRANSFER SUCH SECURITY OR ANY
COMMON STOCK ISSUABLE UPON CONVERSION OF SUCH SECURITY, PRIOR TO THE EXPIRATION
OF THE HOLDING PERIOD APPLICABLE TO SALES OF THIS SECURITY UNDER RULE 144(k)
UNDER THE SECURITIES ACT (OR ANY SUCCESSOR PROVISION), ONLY (A) TO SCIENTIFIC
GAMES CORPORATION (THE "ISSUER"), (B) PURSUANT TO A REGISTRATION STATEMENT THAT
HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT (AND WHICH CONTINUES TO BE
EFFECTIVE AT THE TIME OF SUCH TRANSFER), (C) FOR SO LONG AS THE SECURITIES ARE
ELIGIBLE FOR RESALE PURSUANT TO RULE 144A, IN COMPLIANCE WITH RULE 144A TO A
PERSON IT REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER THAT PURCHASES
FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO
WHOM NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A OR
(D) PURSUANT TO ANOTHER AVAILABLE EXEMPTION FROM THE REGISTRATION

REQUIREMENTS OF THE SECURITIES ACT, SUBJECT TO THE ISSUER'S AND THE TRUSTEE'S
RIGHT PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER PURSUANT TO CLAUSE (D) TO
REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL, CERTIFICATION AND/ OR OTHER
INFORMATION SATISFACTORY TO EACH OF THEM; AND (3) AGREES THAT IT WILL DELIVER TO
EACH PERSON TO WHOM THIS SECURITY IS TRANSFERRED A NOTICE SUBSTANTIALLY TO THE
EFFECT OF THIS LEGEND. THIS LEGEND WILL BE REMOVED UPON THE EARLIER OF THE
TRANSFER OF THIS SECURITY PURSUANT TO CLAUSE 2(B) ABOVE OR UPON ANY TRANSFER OF
THIS SECURITY UNDER RULE 144 UNDER THE SECURITIES ACT (OR ANY SUCCESSOR
PROVISION).

THE HOLDER OF THIS SECURITY IS ENTITLED TO THE BENEFITS OF A REGISTRATION RIGHTS
AGREEMENT DATED DECEMBER 23, 2004 AND, BY ITS ACCEPTANCE HEREOF, AGREES TO BE
BOUND BY AND TO COMPLY WITH THE PROVISIONS OF SUCH REGISTRATION RIGHTS
AGREEMENT.

                          SCIENTIFIC GAMES CORPORATION

            0.75% CONVERTIBLE SENIOR subordinated DEBENTURE DUE 2024

                                                           CUSIP No. 80874P AC 3
                                                           ISIN No. US80874PAC32

No. 001                                                             $250,000,000

Scientific Games Corporation, a corporation duly organized and validly existing
under the laws of the State of Delaware (herein called the "COMPANY", which term
includes any successor corporation under the Indenture referred to on the
reverse hereof), for value received hereby promises to pay to Cede & Co. or its
registered assigns, the principal sum of TWO HUNDRED FIFTY MILLION Dollars, as
such sum may be increased or reduced as reflected on the records of the Trustee
in accordance with the Indenture on December 1, 2024 in accordance with the
terms of the Indenture, in such coin or currency of the United States of America
as at the time of payment shall be legal tender for the payment of public and
private debts, and to pay interest thereon from December 23, 2004 or from the
most recent Interest Payment Date to which Interest has been paid or duly
provided for, on June 1 and December 1 of each year, commencing June 1, 2005, in
like coin or currency, at the rate of 0.75% per annum until, but not including,
June 1, 2010, and at the rate of 0.50% per annum on June 1, 2010 and thereafter,
until the principal amount is paid or made available for payment on December 1,
2024, or upon acceleration, or until such date on which the Debentures are
redeemed, repurchased or converted as provided in the Indenture. Pursuant to the
Registration Rights Agreement, in the event that a Registration Default (as
defined in the Registration Rights Agreement) occurs, subject to certain
exceptions set forth in the Registration Rights Agreement, Additional Amounts
will accrue on this Debenture (if this Debenture is then a "Transfer Restricted
Security" as defined in the Registration Rights Agreement) at a rate of 0.25%
per annum for the first 90-day period during which a Registration Default shall
have occurred and be continuing and 0.50% per annum thereafter from and
including the date on which any such Registration Default shall occur to but
excluding the date on which all Registration Defaults have been cured. All
references in this Debenture and in the Indenture to Interest payable on any
Debenture include any such Additional Amounts. Except as otherwise provided in
the Indenture, the Interest payable on the Debenture pursuant to the Indenture
on any June 1 or December 1 will be paid to the Person entitled thereto as it
appears in the Debenture Register at the close of business on the Regular Record
Date, which shall be the May 15 or November 15 (whether or not a Business Day)
next preceding such June 1 or December 1, as provided in the Indenture; provided
that any such Interest not punctually paid or duly provided for shall be payable
as provided in the Indenture. The Company shall pay Interest (i) on any
Debentures in certificated form by check mailed to the address of the Person
entitled thereto as it appears in the Debenture Register (or, upon written
notice, by wire transfer in immediately available funds, if such Person is
entitled to Interest on Debentures with an aggregate principal amount in excess
of $2,000,000) (except at Stated Maturity, at which time Interest payable on the
Debentures shall be payable with the principal amount at the

Company's office or agency in New York City) or (ii) on any Global Debenture by
wire transfer of immediately available funds to the account of the Depositary or
its nominee.

         The Company promises to pay interest on overdue principal and (to the
extent that payment of such interest is enforceable under applicable law)
Interest at the rate then borne by the Debentures.

         Reference is made to the further provisions of this Debenture set forth
on the reverse hereof, including, without limitation, provisions giving the
holder of this Debenture the right to convert this Debenture into cash or a
combination of cash and Common Stock of the Company, as the case may be, on the
terms and subject to the limitations referred to on the reverse hereof and as
more fully specified in the Indenture. Such further provisions shall for all
purposes have the same effect as though fully set forth at this place.

         THIS DEBENTURE WILL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE
LAWS OF THE STATE OF NEW YORK, BUT WITHOUT GIVING EFFECT TO APPLICABLE
PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE LAW OF
ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY.

         This Debenture shall not be valid or become obligatory for any purpose
until the certificate of authentication hereon shall have been manually signed
by the Trustee under the Indenture.

         IN WITNESS WHEREOF, the Company has caused this Debenture to be duly
executed.

                                           SCIENTIFIC GAMES CORPORATION

                                           by /s/ Martin E. Schloss
                                             --------------------------
                                             Name:  Martin E. Schloss
                                             Title: Vice President and Secretary

Dated:

TRUSTEE'S CERTIFICATE OF AUTHENTICATION

This is one of the Debentures described in the within-named Indenture.

                                           WELLS FARGO BANK, NATIONAL
                                           ASSOCIATION, as Trustee

                                           by /s/ Joseph P. O'Donnell
                                             --------------------------
                                             Authorized Signatory

                          SCIENTIFIC GAMES CORPORATION

            0.75% CONVERTIBLE SENIOR SUBORDINATED DEBENTURE DUE 2024

         This Debenture is one of a duly authorized issue of Debentures of the
Company, designated as its 0.75% Convertible Senior Subordinated Debentures due
2024 (herein called the "DEBENTURES"), limited in aggregate principal amount to
$250,000,000 (or $275,000,000 if the Initial Purchasers of the Debentures
exercise in full their option to purchase additional Debentures), issued and to
be issued under and pursuant to an Indenture dated as of December 23, 2004
(herein called the "INDENTURE"), among the Company, the Guarantors and Wells
Fargo Bank, National Association, as trustee (herein called the "TRUSTEE"), to
which Indenture and all indentures supplemental thereto reference is hereby made
for a description of the rights, limitations of rights, obligations, duties and
immunities thereunder of the Trustee, the Company, the Guarantors and the
holders of the Debentures.

         The payment by the Company of the principal of and Interest on, as well
as the payment of cash due upon conversion of, the Debentures is fully and
unconditionally guaranteed on a joint and several senior subordinated basis by
each Guarantor that is a party to the Indenture and, subject to certain
exceptions, may become guaranteed by any Subsidiary of the Company that
guarantees or otherwise incurs Qualified Indebtedness (as defined in, and to the
extent set forth in, the Indenture). Upon discharge of all such Qualified
Indebtedness of a Guarantor, or the discharge of all guarantees by such
Guarantor of Qualified Indebtedness of the Company and its Subsidiaries after
giving effect to the merger or sale of such Guarantor, or as otherwise set forth
in the Indenture, its Guarantee of the Debentures will be released.

         The Debentures are subordinated to Senior Debt of the Company and the
Guarantor Senior Debt of the Guarantors on the terms and subject to the
conditions set forth in the Indenture. To the extent provided in the Indenture,
Senior Debt and Guarantor Senior Debt must be paid before the Debentures may be
paid (including payments in respect of the cash required to be delivered upon
conversion). Each holder by accepting a Debenture agrees to the subordination
provisions contained in the Indenture and authorizes the Trustee to give it
effect and appoints the Trustee as attorney-in-fact for such purpose.

         In case an Event of Default shall have occurred and be continuing, the
principal of and accrued Interest on all Debentures may be declared to be by
either the Trustee or the holders of not less than 25% in aggregate principal
amount of the Debentures then outstanding, and upon said declaration shall
become, due and payable immediately, in the manner, with the effect and subject
to the conditions provided in the Indenture.

         The Indenture contains provisions permitting the Company, the
Guarantors and the Trustee, with the consent of the holders of at least a
majority in aggregate principal amount of the Debentures at the time
outstanding, to execute supplemental indentures adding any provisions to or
changing in any manner or

eliminating any of the provisions of the Indenture or of any supplemental
indenture or modifying in any manner the rights of the holders of the
Debentures, subject to the exceptions set forth in Sections 11.01 and 11.02 of
the Indenture. The holders of a majority in aggregate principal amount of the
Debentures at the time outstanding may on behalf of the holders of all of the
Debentures waive any past default or Event of Default under the Indenture and
its consequences, subject to the exceptions set forth in Section 7.07 of the
Indenture. Any such consent or waiver by the holder of this Debenture (unless
revoked as provided in the Indenture) shall be conclusive and binding upon such
holder and upon all future holders and owners of this Debenture and any
Debentures which may be issued in exchange or substitution hereof, irrespective
of whether or not any notation thereof is made upon this Debenture or such other
Debentures.

         No reference herein to the Indenture and no provision of this Debenture
or of the Indenture shall alter or impair the obligations of the Company or the
Guarantors, which are absolute and unconditional, to pay the principal of and
Interest on this Debenture at the place, at the respective times, at the rate
and in the coin or currency herein prescribed.

         Interest on the Debentures shall be computed on the basis of a 360-day
year of twelve 30-day months.

         The Debentures are issuable in fully registered form, without interest
coupons, in denominations of $1,000 principal amount and any multiple of $1,000.
At the office or agency of the Company maintained for such purpose, and in the
manner and subject to the limitations provided in the Indenture, without payment
of any service charge but with payment of a sum sufficient to cover any tax,
assessment or other governmental charge that may be imposed in connection with
any registration or exchange of Debentures, Debentures may be exchanged for a
like aggregate principal amount of Debentures of any other authorized
denominations.

         At any time on or after June 1, 2010, the Debentures may be redeemed at
the option of the Company, in whole or in part, in cash upon mailing a notice of
such redemption not less than 30 days but not more than 60 days before the
Redemption Date to the holders of Debentures at their last registered addresses
as set forth in the Debenture Register, all as provided in the Indenture, at a
Redemption Price equal to 100% of the principal amount of Debentures being
redeemed plus accrued and unpaid Interest to, but excluding, the Redemption
Date; provided that if the applicable Redemption Date is after a Regular Record
Date and on or prior to the corresponding Interest Payment Date, the Interest
payable on such Interest Payment Date shall be paid on the Redemption Date to
the holder of record on the applicable Regular Record Date.

         The Debentures will not be redeemable at the option of the Company
before June 1, 2010, except that the Company may require holders to dispose of
Debentures or, if not so disposed, may redeem such holders' Debentures in order
to comply with applicable gaming laws as set forth in Article IV of the
Indenture.

         The Company may not give notice of any redemption of the Debentures if
a default in the payment of Interest on the Debentures has occurred and is
continuing.

         The Debentures are not subject to redemption through the operation of
any sinking fund.

         If a Fundamental Change occurs at any time prior to maturity of the
Debentures, the holders will have the right to require the Company to repurchase
all or any portion of the Debentures on a Fundamental Change Repurchase Date
specified by the Company, which shall be no later than 35 days after notice
thereof, at a Fundamental Change Repurchase Price equal to 100% of the principal
amount thereof, together with accrued Interest to (but excluding) the
Fundamental Change Repurchase Date; provided that if the applicable Fundamental
Change Repurchase Date is after a Regular Record Date and on or prior to the
corresponding Interest Payment Date, the Interest payable on such Interest
Payment Date shall be paid on such Interest Payment Date to the holders of
record of such Debentures on the Regular Record Date instead of the holders
surrendering such Debentures for repurchase on such date. The Company shall mail
to all holders of record of the Debentures a notice of the occurrence of a
Fundamental Change and of the repurchase right arising as a result thereof on or
before the 30th day after the occurrence of such Fundamental Change. For a
Debenture to be so repurchased at the option of the holder, the Company must
receive at the office or agency of the Company maintained for that purpose in
accordance with the terms of the Indenture, the form entitled "Form of
Fundamental Change Repurchase Election" on the reverse of the Debenture duly
completed at any time prior to the close of business on the Business Day
immediately preceding the Fundamental Change Repurchase Date, and such
Debenture, duly endorsed for transfer (or if such Debenture is a Global
Debenture, book-entry transfer of such Debenture), as set forth in the
Indenture.

         Subject to the terms and conditions of the Indenture, the holders will
have the right to require the Company to repurchase all or any portion of the
Debentures on June 1, 2010, December 1, 2014 and December 1, 2019 at a Company
Repurchase Price of 100% of the principal amount, plus any accrued and unpaid
Interest on such Debentures to, but excluding, the Company Repurchase Date;
provided that the Interest payable on the applicable Company Repurchase Date
shall be paid on such Interest Payment Date to the holders of record of such
Debentures on the Regular Record Date instead of the holders surrendering such
Debentures for repurchase on such date. To exercise such right, a holder must
deliver to the Company the form entitled "Form of Company Repurchase Election"
on the reverse of the Debenture duly completed at any time from the opening of
business on the date that is 22 Business Days prior to such Company Repurchase
Date until the close of business on the date that is two Business Days prior to
the Company Repurchase Date, and such Debenture, duly endorsed for transfer (or
if such Debenture is a Global Debenture, book-entry transfer of such Debenture),
as set forth in the Indenture.

         The Company Repurchase Price to be paid on any of June 1, 2010,
December 1, 2014 and December 1, 2019 and the Fundamental Change Repurchase
Price

to be paid on any Fundamental Change Repurchase Date shall be paid in cash,
subject to the terms and conditions of the Indenture.

         Holders have the right to withdraw any Repurchase Election by
delivering to the Paying Agent a written notice of withdrawal up to the close of
business on the Business Day immediately preceding the Repurchase Date, all as
provided in the Indenture.

         If money sufficient to pay the Repurchase Price with respect to all
Debentures or portions thereof to be repurchased as of any Repurchase Date is
deposited with the Paying Agent, then on and after such Repurchase Date
(provided that payment therefrom is not prohibited by Article XVI or XVIII of
the Indenture), Interest will cease to accrue on such Debentures (or portions
thereof), and the holder thereof shall have no other rights as such other than
the right to receive the Repurchase Price upon surrender of such Debenture.

         Subject to the occurrence of certain events and in compliance with the
provisions of the Indenture, prior to the Stated Maturity of the Debentures, the
holder hereof has the right, at its option, to convert each $1,000 principal
amount of the Debentures into 34.3643 shares of the Company's Common Stock
(equivalent to a Conversion Price of approximately $29.10 per share), as such
shares shall be constituted at the date of conversion, to be settled in cash or
a combination of cash and shares of Common Stock, as described in the Indenture,
and subject to adjustment from time to time as provided in the Indenture, upon
surrender of this Debenture (if certificated) with the form entitled "Form of
Conversion Notice" on the reverse hereof duly completed and manually signed, to
the Company at the office or agency of the Conversion Agent, together with any
funds required pursuant to the Indenture, and, unless the shares issuable on
conversion are to be issued in the same name as this Debenture, duly endorsed
by, or accompanied by instruments of transfer in form satisfactory to the
Company duly executed by, the holder or by his duly authorized attorney. The
Company will notify the holder thereof of any event triggering the right to
convert the Debentures as specified above in accordance with the Indenture. In
order to exercise the conversion right with respect to any interest in a Global
Debenture, the holder must complete the appropriate instruction form pursuant to
the Depositary's book-entry conversion program, deliver by book-entry delivery
an interest in such Global Debenture, furnish appropriate endorsements and
transfer documents if required pursuant to the terms of the Indenture. Upon
conversion, the Company will deliver cash equal to the lesser of the aggregate
principal amount of Debentures being converted and the Conversion Value, and
shares of Common Stock in respect of the remainder, if any, of the Conversion
Value.

         If the Company (i) is a party to a consolidation, merger, statutory
share exchange or combination, (ii) reclassifies the Common Stock, or (iii)
sells or conveys its properties and assets substantially as an entirety to any
Person, the right to convert a Debenture into shares of Common Stock may be
changed into a right to convert it into the kind or amount of cash, securities
or other property receivable upon such event, in each case in accordance with
the Indenture.

         In addition, following certain transactions described in the Indenture
(subject to the requirements of Section 15.01(d) of the Indenture) that occur
prior to June 1, 2010 that constitute certain types of Fundamental Changes, a
holder who elects to convert its Debentures in connection with such transaction
will be entitled to receive Additional Common Stock upon conversion. In certain
circumstances involving the acquisition of the Company by a public acquirer, the
Company may elect, in lieu of issuing Additional Common Stock, to provide for
the conversion of the Debentures into shares of the public acquirer as set forth
in Section 15.12 of the Indenture.

         No adjustment in respect of Interest on any Debenture converted or
dividends on any shares issued upon conversion of such Debenture will be made
upon any conversion except as set forth in the next sentence. If this Debenture
(or portion hereof) is surrendered for conversion during the period from the
close of business on any Regular Record Date for the payment of Interest to the
opening of business on the immediately following Interest Payment Date, this
Debenture (or portion hereof being converted) must be accompanied by payment, in
immediately available funds or other funds acceptable to the Company, of an
amount equal to the Interest otherwise payable on such Interest Payment Date on
the principal amount being converted; provided that no such payment shall be
required (1) if the Company has specified a Redemption Date that is after a
Regular Record Date and on or prior to the next Interest Payment Date, (2) if
the Company has specified a Fundamental Change Repurchase Date that is after a
Regular Record Date and on or prior to the next Interest Payment Date or (3) to
the extent of any overdue Interest, if any overdue Interest exists at the time
of conversion with respect to such Debenture.

         No fractional shares will be issued upon any conversion, but an
adjustment and payment in cash will be made, as provided in the Indenture, in
respect of any fraction of a share which would otherwise be issuable upon the
surrender of any Debenture or Debentures for conversion.

         A Debenture in respect of which a holder is exercising its right to
require repurchase upon a Fundamental Change or repurchase on a Repurchase Date
may be converted only if such holder withdraws its election to exercise such
right in accordance with the terms of the Indenture.

         The Company, the Guarantors, the Trustee, any Paying Agent, any
Conversion Agent and any Debenture Registrar may deem and treat the registered
holder hereof as the absolute owner of this Debenture (whether or not this
Debenture shall be overdue and notwithstanding any notation of ownership or
other writing hereon made by anyone other than the Company or any Debenture
Registrar) for the purpose of receiving payment hereof, or on account hereof,
for the conversion hereof and for all other purposes, and neither the Company
nor the Trustee nor any Paying Agent nor other Conversion Agent nor any
Debenture Registrar shall be affected by any notice to the contrary. All
payments made to or upon the order of such registered holder shall, to the
extent of the sum or sums paid, satisfy and discharge liability for monies
payable on this Debenture.

         No recourse for the payment of the principal of or Interest on this
Debenture, or for any claim based hereon or otherwise in respect hereof, and no
recourse under or upon any obligation, covenant or agreement of the Company or
the Guarantors in the Indenture or any supplemental indenture or in any
Debenture, or because of the creation of any indebtedness represented thereby,
shall be had against any incorporator, stockholder, employee, agent, officer or
director or subsidiary, as such, past, present or future, of the Company, any
Guarantor or of any successor Person, either directly or through the Company or
any successor Person, whether by virtue of any constitution, statute or rule of
law or by the enforcement of any assessment or penalty or otherwise, all such
liability being, by acceptance hereof and as part of the consideration for the
issue hereof, expressly waived and released.

         Terms used in this Debenture and defined in the Indenture are used
herein as therein defined.

                                  ABBREVIATIONS

         The following abbreviations, when used in the inscription on the face
of this Debenture, shall be construed as though they were written out in full
according to applicable laws or regulations.

TEN COM - as tenants in common               CUST -    custodian
TEN ENT - as tenant by the entireties        U/G/M/A - Uniform Gifts to Minors
JT TEN -  as joint tenants with right of               Act
          survivorship and not as tenants
          in common

         Additional abbreviations may also be used though not in the above list.

                                     FORM OF
                                CONVERSION NOTICE

TO:  SCIENTIFIC GAMES CORPORATION
     WELLS FARGO BANK, NATIONAL ASSOCIATION

         The undersigned registered owner of this Debenture hereby irrevocably
exercises the option to convert this Debenture, or the portion thereof (which is
$1,000 principal amount or a multiple thereof) below designated, into cash or a
combination of cash and shares of Common Stock of Scientific Games Corporation,
as the case may be, in accordance with the terms of the Indenture referred to in
this Debenture, and directs that the funds in payment of the lesser of the
principal amount of the Debentures being converted and the Conversion Value,
together with funds in lieu of fractional shares, if any, any shares issuable
and deliverable upon such conversion and any Debentures representing any
unconverted principal amount hereof, be issued and delivered to the registered
holder hereof unless a different name has been indicated below. Capitalized
terms used herein but not defined shall have the meanings ascribed to such terms
in the Indenture. If funds, shares or any portion of this Debenture not
converted are to be issued in the name of a person other than the undersigned,
the undersigned will provide the appropriate information below and pay all
transfer taxes payable with respect thereto. Any amount required to be paid by
the undersigned on account of Interest, if any, accompanies this Debenture.

Dated:
      --------------------------

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

                                                  ------------------------------
                                                  Signature(s)

                                                  Signature(s) must be
                                                  guaranteed by an "eligible
                                                  guarantor institution" meeting
                                                  the requirements of the
                                                  Debenture Registrar, which
                                                  requirements include
                                                  membership or participation in
                                                  the Security Transfer Agent
                                                  Medallion Program ("STAMP") or
                                                  such other "signature
                                                  guarantee program" as may be
                                                  determined by the Debenture
                                                  Registrar in addition to, or
                                                  in substitution for, STAMP,
                                                  all in accordance with the
                                                  Securities Exchange Act of
                                                  1934, as amended.

                                                  ------------------------------
                                                  Signature Guarantee

         Fill in the registration of shares of Common Stock, if any, to be
issued, and Debentures, if any, to be delivered, other than to and in the name
of the registered holder:

------------------------------------
(Name)

------------------------------------
(Street Address)

------------------------------------
(City, State and Zip Code)

------------------------------------
Please print name and address

Principal amount to be converted
(if less than all):

$
 -----------------------------------

Social Security or Other Taxpayer
Identification Number:

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

                                     FORM OF
                     FUNDAMENTAL CHANGE REPURCHASE ELECTION

TO:  SCIENTIFIC GAMES CORPORATION
     WELLS FARGO BANK, NATIONAL ASSOCIATION

         The undersigned registered owner of this Debenture hereby irrevocably
acknowledges receipt of a notice from Scientific Games Corporation (the
"Company") as to the occurrence of a Fundamental Change with respect to the
Company and requests and instructs the Company to repurchase the entire
principal amount of this Debenture, or the portion thereof (which is $1,000
principal amount or a multiple thereof) below designated, as of the Fundamental
Change Repurchase Date stated below in accordance with the terms and conditions
of this Debenture and the Indenture referred to in this Debenture at the price
of 100% of such entire principal amount or portion thereof, together with
accrued Interest to, but excluding, the Fundamental Change Repurchase Date
stated below, to the registered holder hereof. Capitalized terms used herein but
not defined shall have the meanings ascribed to such terms in the Indenture.

Dated:
      -------------------------

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

                                                  ------------------------------
                                                  Signature(s)

NOTICE: The above signatures of the holder(s) hereof must correspond with the
name as written upon the face of the Debenture in every particular without
alteration or enlargement or any change whatever.

Fundamental Change Repurchase Date:

Debenture Certificate Number (if applicable):

Principal amount to be repurchased (if less than all):

Social Security or Other Taxpayer Identification Number:

                                     FORM OF
                           COMPANY REPURCHASE ELECTION

TO:  SCIENTIFIC GAMES CORPORATION
     WELLS FARGO BANK, NATIONAL ASSOCIATION

         The undersigned registered owner of this Debenture hereby irrevocably
acknowledges receipt of a notice from Scientific Games Corporation (the
"Company") regarding the right of holders to elect to require the Company to
repurchase the Debentures and requests and instructs the Company to repay the
entire principal amount of this Debenture, or the portion thereof (which is
$1,000 principal amount or an integral multiple thereof) below designated, in
accordance with the terms of the Indenture at the price of 100% of such entire
principal amount or portion thereof, together with accrued Interest to, but
excluding, the Company Repurchase Date, to the registered holder hereof.
Capitalized terms used herein but not defined shall have the meanings ascribed
to such terms in the Indenture. The Debentures shall be repurchased by the
Company as of the Company Repurchase Date pursuant to the terms and conditions
specified in the Indenture.

Dated:
      ---------------------------

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

                                                  ------------------------------
                                                  Signature(s)

NOTICE: The above signatures of the holder(s) hereof must correspond with the
name as written upon the face of the Debenture in every particular without
alteration or enlargement or any change whatever.

Debenture Certificate Number (if applicable):

Principal amount to be repurchased (if less than all):

Social Security or Other Taxpayer Identification Number:

                                   ASSIGNMENT

         For value received ______________________________hereby sell(s)
assign(s) and transfer(s) unto ___________________________________ (Please
insert social security or other Taxpayer Identification Number of assignee) the
within Debenture, and hereby irrevocably constitutes and appoints
______________________________________ attorney to transfer said Debenture on
the books of the Company, with full power of substitution in the premises.

         In connection with any transfer of the Debenture prior to the
expiration of the holding period applicable to sales thereof under Rule 144(k)
under the Securities Act (or any successor provision), the undersigned confirms
that such Debenture is being transferred:

         [ ]   To Scientific Games Corporation or a subsidiary thereof; or

         [ ]   To a "qualified institutional buyer" in compliance with Rule 144A
               under the Securities Act of 1933, as amended; or

         [ ]   Pursuant to and in compliance with Rule 144 under the Securities
               Act of 1933, as amended; or

         [ ]   Pursuant to a Registration Statement which has been declared
               effective under the Securities Act of 1933, as amended, and which
               continues to be effective at the time of transfer;

and unless the Debenture has been transferred to Scientific Games Corporation or
a subsidiary thereof, the undersigned confirms that such Debenture is not being
transferred to an "affiliate" of the Company as defined in Rule 144 under the
Securities Act of 1933, as amended.

         Unless one of the boxes is checked, the Trustee will refuse to register
any of the Debentures evidenced by this certificate in the name of any person
other than the registered holder thereof.

Dated:
      -------------------------

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

                                                  ------------------------------
                                                  Signature(s)

                                                  Signature(s) must be
                                                  guaranteed by an "eligible
                                                  guarantor institution" meeting
                                                  the requirements of the
                                                  Debenture Registrar, which
                                                  requirements include
                                                  membership or participation in
                                                  the Security Transfer Agent
                                                  Medallion Program ("STAMP") or
                                                  such other "signature
                                                  guarantee program" as may be
                                                  determined by the Debenture
                                                  Registrar in addition to, or
                                                  in substitution for, STAMP,
                                                  all in accordance with the
                                                  Securities Exchange Act of
                                                  1934, as amended.

                                                  ------------------------------
                                                  Signature Guarantee

NOTICE: The signature on the Conversion Notice, the Fundamental Change
Repurchase Election, the Company Repurchase Election or the Assignment must
correspond with the name as written upon the face of the Debenture in every
particular without alteration or enlargement or any change whatever.

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