Document:

exhibit10-1.htm

    THIS
      DEBT SETTLEMENT AGREEMENT is dated effective the 11th day of July,
      2007.

    

    
      	
              BETWEEN:

            	
              RACINO
                ROYALE, INC. a body corporate, duly incorporated pursuant to the
                laws of the State of Nevada

            

    

    

    (the
      “Debtor”)

    

    
      	
              AND:

            	
              EIGER
                TECHNOLOGY, INC., a body corporate, duly incorporated pursuant to
                the laws of the Province of Ontario

            

    

    

    (the
“Company”
or
      the
“Creditor”)

    

    
      	
              A.  

            	
              The
                Company is indebted to the Creditor in the amount of $250,000 (the
                “Debt”).

            

    

    

    
      	
              B.  

            	
              The
                Debtor has agreed, in lieu of a cash payment of the Debt, to issue
                a total
                of 5,000,000 common shares in its capital stock in full and final
                payment
                of the Debt.

            

    

    

    NOW
      THEREFORE THIS AGREEMENT WITNESSES that in consideration of the sum of
      $10.00 paid by the Company to the Creditor, the receipt and sufficiency of
      which
      is hereby acknowledged by the Creditor, and subject to the terms and conditions
      hereinafter set out, the parties hereto have agreed and do hereby agree as
      follows:

    

    

    
      	
              1.  

            	
              The
                Creditor agrees to accept a total of 5,000,000 common shares of the
                Debtor
                (the “Shares”) as full and final settlement of the
                Debt.

            

    

    

    
      	
              2.  

            	
              The
                Debtor agrees to issue the Shares to the Creditor as full and final
                settlement of the Debt.

            

    

    

    
      	
              3.  

            	
              The
                Creditor and the Debtor agree that no interest is payable on the
                Debt or
                is outstanding as of this date.

            

    

    

    
      	
              4.  

            	
              The
                parties hereto agree to execute all further documents and assurances
                as
                may be necessary to give effect to the intent expressed
                herein.

            

    

    

    
      	
              5.  

            	
              Notwithstanding
                any other term contained herein, the Creditor shall be entitled,
                in its
                sole discretion, to terminate this Agreement at any time prior to
                the
                issuance of the Shares by the
                Company.

            

    

    

    
      	
              6.  

            	
              The
                Debtor acknowledges that CD Farber Law Corp has advised it to seek
                independent legal advice with respect to this Debt Settlement Agreement
                and that CD Farber Law Corp. has not reviewed this Debt Settlement
                Agreement on its behalf.

            

    

    

    
      	
              7.  

            	
              Time
                shall be of the essence in this
                Agreement.

            

    

    

    
      	
              8.  

            	
              This
                Agreement shall be governed by and be construed in accordance with
                the
                laws of the Province of Ontario. The courts of the Province of Ontario
                shall have sole jurisdiction to hear and determine all manner of
                disputes
                and claims arising out of or in any way connected with the construction,
                breach or alleged, threatened or anticipated breach of this Agreement
                and
                determine all questions as to the validity, existence or enforceability
                hereof.

            

    

    

    
      	
              9.  

            	
              This
                Agreement shall enure to the benefit of and be binding upon the parties
                hereto, their respective heirs, executors, administrators, successors
                and
                assigns.

            

    

    

    
      	
              10.  

            	
              All
                funds referred to in this Agreement are in United States
                dollars.

            

    

    

    
      	
              11.  

            	
              This
                Agreement may be executed in two or more counterparts and by facsimile,
                each of which shall be deemed an original, but all of which together
                shall
                constitute one and the same
                instrument.

            

    

    

    IN
      WITNESS WHEREOF the parties have executed this Agreement on the day and
      year first above written.

    

    EIGER
      TECHNOLOGY, INC.

    

    _/s/
      Jason Moretto_______________________

    A.S.O.  Jason
      Moretto, Chief Financial Officer

    

    RACINO
      ROYALE, INC.

    

    _/s/
      John
      Simmonds_____________________

    A.S.O.  John
      Simmonds, President and Chief Executive
      Officerexhibit10-1.htm

    PURCHASE
      AGREEMENT

     

    THIS
      AGREEMENT made as of the 8th day
      of August,
      2007.

     

    B
      E T W E E N:

     

    EIGER
      TECHNOLOGY, INC., a corporation governed under the laws of the Province
      of Ontario

     

    (hereinafter
      called the "Parent")

     

    -
      and
      -

     

    ETIFF
      HOLDINGS, LLC, a corporation governed under the laws of the State of
      Delaware

     

    (hereinafter
      called the "Vendor")

     

    -
      and
      -

     

    FOUNDATION
      VENTURE LEASING INC., in Trust., a corporation governed under the laws
      of the Province of Ontario

     

    (hereinafter
      called the "Purchaser")

     

    -
      and
      -

     

    RACINO
      ROYALE, INC., a corporation organized under the laws of the State of
      Nevada (the "Corporation")

     

    WHEREAS
      the Vendor is the legal and beneficial owner of fourteen million twenty-one
      thousand, six hundred (14,021,600) shares of common stock (the
      "Shares") 

    of
      the
      Corporation;

     

    AND
      WHEREAS the Vendor desires to sell to the Purchaser and the Purchaser
      desires to purchase from the Vendor the Shares;

     

    NOW
      THEREFORE THIS AGREEMENT WITNESSES that, for the consideration
      hereinafter set forth, the receipt and sufficiency of which is being
      hereby

     acknowledged,
      the Parties have agreed and do hereby agree with each other as
      follows:

     

    ARTICLE 1

     

    INTERPRETATION

     

    1.1  Definitions.

     

    
      	
              (a)  

            	
              Where
                used in this Agreement, unless the context or subject matter otherwise
                requires, the following words and phrases shall have the meanings
                set
                forth below:

            

    

     

    
      	
              "1933
                Act" means the United States Securities Act of 1933, as
                amended;

            
	
              "Agreement"
                means this Agreement (including the Exhibits hereto) as it may be
                amended
                or supplemented from time to time; and the expressions
                "Article", "Section",
                "Subsection" or "Exhibit" followed by a
                number or letter means and refers to the specified Article, Section,
                Subsection or Exhibit of this Agreement;

            
	
              "Business
                Day" means any day, other than a Saturday, Sunday or statutory
                holiday in Toronto, Ontario;

            
	
              "Closing"
                means the completion of the purchase and sale of the Shares in accordance
                with the provisions of this Agreement;

            
	
              "Closing
                Date" means August 8, 2007 or such other date as the Parties
                may
                agree;

            
	
              "Corporation"
                means Racino Royale, Inc., a corporation governed under the laws
                of the
                State of Nevada;

            
	
              "Exchange
                Act" means the Securities Act of 1934, as
                amended.

            
	
              "Pledged
                Shares" has the meaning set out in Section 2.3;

            
	
              "OSC"
                means the Ontario Securities Commission;

            
	
              "Parent"
                means Eiger technology, Inc., a corporation governed under the laws
                of the
                Province of Ontario;

            
	
              "Parties"
                means the Vendor, the Parent, the Purchaser and the Corporation and
                their
                successors and permitted assigns; and "Party" means
                either of the Parties;

            
	
              "Promissory
                Note" means the Promissory Note attached as Exhibit "1"
                hereto;

            
	
              "Purchase
                Price" has the meaning set out in Section 2.2(a);

            
	
              "Purchaser"
                means Foundation Venture Leasing Inc., in Trust, a corporation governed
                under the laws of the Province of Ontario;

            
	
              "SEC"
                means the United States Securities and Exchange
                Commission;

            
	
              "Securities
                Laws" means, collectively, the Securities Act (Ontario),
                the 1933 Act, the regulations and rules made under those
                statutes, and policy statements and interpretation notes of the OSC
                or the
                SEC or any state of the United States under "blue sky"
                laws;

            
	
              "Share
                Pledge Agreement" has the meaning set out in Section 2.3;

            
	
              "Shares"
                means, collectively, fourteen million, twenty-one thousand, six hundred
                (14,021,600) shares of common stock of the Corporation owned by the
                Vendor; and

            
	
              "Vendor"
                means ETIFF Holdings, LLC, a corporation governed under the laws
                of the
                State of Delaware.

            

    

    1.2  Currency.  All
      sums of money which are referred to in this Agreement are expressed in lawful
      money of the United States of America.

     

    1.3  Division
      of Agreement.  The division of this Agreement into Articles,
      Sections, Subsections, paragraphs, subparagraphs and Exhibits and the insertion
      of headings are for convenience of reference only and shall not affect the
      construction or interpretation of this Agreement.  The terms "this
      Agreement", "hereof", "herein", "hereunder" and similar expressions refer to
      this Agreement and not to any particular Article, Section or other portion
      of
      the Agreement.

     

    1.4  Number
      and Gender.  Words importing the singular number only shall
      include the plural and vice versa, and words importing the use of any gender
      shall include all genders.

     

    1.5  Including.  Unless
      otherwise specifically indicated or the context otherwise requires, "include",
      "includes" and "including" shall be deemed to be followed by the words "without
      limitation".

     

    1.6  Exhibits.  The
      following are the Exhibits attached to this Agreement:

     

    
      	
              Exhibit
                "1"

            	
              –

            	
              Form
                of Promissory Note

            
	
              Exhibit
                "2"

            	
              –

            	
              Form
                of Share Pledge Agreement

            

    

    ARTICLE 2

     

    PURCHASE
      AND SALE OF SHARES AND INTELLECTUAL PROPERTY

     

    2.1  Purchase
      and Sale of Shares.  Subject to the terms and conditions
      hereof, the Vendor hereby sells, conveys, assigns, transfers and sets over
      absolutely to the Purchaser, and the Purchaser hereby purchases from the Vendor,
      all of the Vendor's rights, title and interest, directly or indirectly,
      beneficial or otherwise, in and to the Shares, effective on and as of the
      Closing.

     

    2.2  Purchase
      Price.

     

    
      	
              (a)  

            	
              The
                purchase price payable by the Purchaser to the Vendor for the Shares
                shall
                be $701,080 in the aggregate (the "Purchase
                Price").

            

    

     

    
      	
              (b)  

            	
              The
                Purchaser shall satisfy the Purchase Price by delivery to the Vendor
                on
                Closing as follows:

            

    

     

    
      	
              (i)  

            	
              cheque
                or cash in the amount of thirty thousand dollars ($30,000) payable
                to the
                Vendor or as the Vendor may direct;
                and

            

    

     

    
      	
              (ii)  

            	
              the
                Promissory Note granted by Purchaser in favour of Vendor in the principal
                amount of $671,080 in the form of Exhibit "1" payable on the following
                basis:

            

    

     

    
      	
              (A)  

            	
              $70,000
                on or before August 31, 2007;

            

    

     

    
      	
              (B)  

            	
              $133,694
                on or before September 30, 2007;
                and

            

    

     

    
      	
              (C)  

            	
              $233,693
                on or before February 1, 2008; and

            

    

     

    
      	
              (D)  

            	
              $233,693
                on or before September 1, 2008.

            

    

     

    2.3  Pledge
      of Shares.  The Purchaser agrees to pledge to the Vendor on
      Closing 12,619,460 of the Purchased Shares (the "Pledged
      Shares") as security for the Purchaser's obligation under the
      Promissory Note, to be held by the Vendor and released in accordance with the
      share pledge agreement in the form of Exhibit "2" attached hereto (the
      "Share Pledge Agreement").

     

    2.4  Purchase
      and Sale of Intellectual Property.  The Parent and the
      Corporation agree that, for a purchase price of $1.00, the Parent shall acquire
      from the Corporation all of the Corporation’s right, title and interest in and
      to the name "Racino Royale, Inc." or substantially similar names and all of
      the
      Corporation’s right, title and interest in and to the "Racino Royale, Inc." URL
      (the URL and the name "Racino Royale, Inc." being, collectively, the
      "IntellectualProperty").  The
      Purchaser and the Vendor acknowledge and agree that the Parent has bought the
      Intellectual Property and the Purchaser agrees to, on or before the six month
      anniversary date of this Agreement, use its best efforts to cause the
      Corporation to change its name, through shareholder vote, merger or directors
      vote (as a Nevada corporation) from Racino Royale, Inc. to such other name
      as
      the Purchaser may deem appropriate.

     

    ARTICLE 3

     

    REPRESENTATIONS
      AND WARRANTIES

     

    3.1  Representations
      and Warranties of the Vendor.  The Vendor represents and
      warrants to the Purchaser as follows and acknowledges that the Purchaser is
      relying upon such representations and warranties in connection with the entering
      into of this Agreement and the purchase by the Purchaser of the
      Shares:

     

    
      	
              (a)  

            	
              Capacity.  The
                Vendor is a corporation duly incorporated, organized and validly
                subsisting and in good standing under the laws of Delaware.  The
                Vendor has all necessary corporate power and capacity and is qualified
                to
                own, lease and operate its property and assets and to conduct its
                business
                at and in the places where such property and assets are now owned,
                leased
                or operated or such business is now conducted.  The Vendor has
                all the necessary corporate power and authority to enter into this
                Agreement and other agreements and instruments contemplated herein
                and
                perform its obligations hereunder.

            

    

     

    
      	
              (b)  

            	
              Agreement
                Binding.  This Agreement has been duly executed and
                delivered by the Vendor and is a valid and binding obligation of
                the
                Vendor enforceable against the Vendor in accordance with its terms
                except
                as such enforcement may be limited by applicable bankruptcy, insolvency
                or
                other laws of general application affecting the rights of creditors
                and
                the availability of equitable remedies such as specific performance
                and
                injunction which are only available in the discretion of the court
                from
                which they are sought.

            

    

     

    
      	
              (c)  

            	
              No
                Violation.  The execution and delivery of this Agreement by
                the Vendor, and the performance of its obligations hereunder, do
                not (or
                would not with the giving of notice, the lapse of time or the happening
                of
                any event or condition) result in the violation of any terms or provisions
                of any law applicable to (including all Securities Laws), or the
                constating documents of, the Vendor or of any agreement, written
                or oral,
                to which the Vendor is a party or by which he is
                bound.

            

    

     

    
      	
              (d)  

            	
              Title.  The
                Vendor is the sole legal and beneficial owner of the Shares and has
                good
                and marketable title to the Shares free and clear of any mortgages,
                charges, pledges, security interests or other
                encumbrances.

            

    

     

    
      	
              (e)  

            	
              Approvals
                and Consents.  No authorization, consent or approval of any
                person, including any governmental authority, is required in connection
                with the execution, delivery or performance of this Agreement by
                the
                Vendor or the sale of the Shares by the Vendor to the
                Purchaser.

            

    

     

    
      	
              (f)  

            	
              No
                Option to Purchase.  No person, firm or corporation has any
                agreement, option or any right capable of becoming an agreement or
                option
                for the purchase from the Vendor of any of the
                Shares.

            

    

     

    
      	
              (g)  

            	
              No
                Shareholders' Agreement.  The Vendor is not a party to any
                shareholders' agreement made among any shareholders of the Corporation
                and
                there is no unanimous shareholders' agreement among shareholders
                of the
                Corporation.

            

    

     

    
      	
              (h)  

            	
              No
                Other Interests.  The Vendor does not have any interest,
                directly or indirectly, legal or beneficial, or any right capable
                of
                becoming an interest, or any right to acquire any interest, in the
                Corporation, other than the shares.

            

    

     

    
      	
              (i)  

            	
              No
                Liabilities.   The Corporation has no outstanding
                liabilities, real or contingent, to the
                Vendor.

            

    

     

    
      	
              (j)  

            	
              Capacity
                of the Corporation.  The Corporation is a corporation duly
                incorporated, organized and validly subsisting and in good standing
                under
                the laws of the State of Nevada.  The Corporation has all
                necessary corporate power and capacity and is qualified to own, lease
                and
                operate its property and assets and to conduct its business at and
                in the
                places where such property and assets are now owned, leased or operated
                or
                such business is now conducted.

            

    

     

    
      	
              (k)  

            	
              Trading
                of Shares.  The common shares of the Corporation are quoted
                on the Over the Counter Bulletin Board under the symbol
                "RCNR".

            

    

     

    
      	
              (l)  

            	
              Withholding
                Taxes.  The Corporation has no obligation to pay withholding
                taxes in Canada or in the United States of
                America.

            

    

     

    3.2  Representations
      and Warranties of Purchaser.  The Purchaser represents and
      warrants to the Vendor as follows and acknowledges that the Vendor is relying
      upon such representations and warranties in connection with the entering into
      of
      this Agreement and the sale by the Vendor of the Shares:

     

    
      	
              (a)  

            	
              Capacity.  The
                Purchaser is a corporation duly established and validly existing
                under the
                laws of the Province of Ontario, has the necessary capacity and authority
                to execute and deliver this Agreement and to observe and perform
                its
                covenants and obligations hereunder and has taken all necessary action
                in
                respect thereof;

            

    

     

    
      	
              (b)  

            	
              Agreement
                Binding.  This Agreement has been duly authorized, executed
                and delivered by the Purchaser, and is a valid and binding obligation
                of
                the Purchaser, enforceable against the Purchaser in accordance with
                its
                terms, except as such enforcement may be limited by applicable bankruptcy,
                insolvency or other laws of general application affecting the rights
                of
                creditors and the availability of equitable remedies such as specific
                performance and injunction which are only available in the discretion
                of
                the court from which they are
                sought.

            

    

     

    
      	
              (c)  

            	
              No
                Violation.  The execution and delivery of this Agreement by
                the Purchaser, and the performance of the Purchaser's obligations
                hereunder, do not (or would not with the giving of notice, the lapse
                of
                time or the happening of any event or condition) result in the violation
                of any terms or provisions of any law applicable to or, if applicable,
                the
                constating documents of the Purchaser or of any
                agreement, written or oral, to which the Purchaser is a party or
                by which
                the Purchaser is bound.

            

    

     

    
      	
              (d)  

            	
              Approvals
                and Consents.  No authorization, consent or approval of any
                person, including any governmental authority, is required in connection
                with the execution, delivery or performance of this Agreement by
                the
                Purchaser or the purchase of the Shares by the
                Purchaser.

            

    

     

    3.3  Representations
      and Warranties of the Corporation.

     

    The
      Corporation represents and warrants
      to the Purchaser as follows and acknowledges that the Purchaser is relying
      upon
      such representations and warranties in connection with the entering into of
      this
      Agreement and the purchase by the Purchaser of the Shares.

     

    (a)  Capacity.  The
      Corporation is a corporation duly incorporated, organized and validly existing
      and in good standing under the laws of the State of Nevada. The Corporation
      has
      all necessary corporate power and capacity and is qualified to own, lease and
      operate its property and assets and to conduct its business at and in the places
      where such property and assets are now owned, leased or operated or such
      business is now conducted.  The Corporation has all the necessary
      corporate power and authority to enter into this Agreement and other agreements
      and instruments contemplated herein and perform its obligations
      hereunder.

     

    (b)  Agreement
      Binding.                                                      This
      Agreement has been duly executed and delivered by the Corporation and is a
      valid
      and binding obligation of the Corporation enforceable against the Company in
      accordance with its terms except as such enforcement may be limited by
      applicable bankruptcy, insolvency or other laws of general application affecting
      the rights of creditors and the availability bankruptcy, insolvency or other
      laws of general application affecting the rights of creditors and the
      availability of equitable remedies such as specific performance and injunction
      which are only available in the discretion of the court from which they are
      sought.

     

    (c)  No
      Violation.  The execution and delivery of this Agreement by the
      Corporation, and the performance of its obligations hereunder, do not (or would
      not with the giving of notice, the lapse of time or the happening of any event
      or condition) result in the violation of any terms or provisions of any law
      applicable to (including all Securities Laws), or the constituting documents
      of,
      the Company or of any agreement, written or oral, to which the Corporation
      is a
      party or by which he is bound.

     

    (d)  Approvals
      and Consents.  No authorization, consent or approval of any
      person, including any governmental authority, is required in connection with
      the
      execution, delivery or performance of this Agreement by the
      Corporation.

     

    (e)  Current
      Filings.    The Corporation represents that it is
      current in all of its filings under the Exchange Act and that it has not been
      informed by the SEC that any of such filings is under review.

     

    (f)  Capacity
      of the Corporation.  The Corporation is a corporation duly
      incorporated, organized and validly subsisting and in good standing under the
      laws of the State of Nevada.  The Corporation has all necessary
      corporate power and capacity and is qualified to own, lease and operate its
      property and assets and to conduct its business at and in the places where
      such
      property and assets are now owned, leased or operated or such business is now
      conducted.

     

    (g)  Trading
      of Shares.  The common shares of the Corporation are quoted on the
      Over the Counter Bulletin Board under the symbol "RCNR" and the Corporation
      has
      not received any notice of an intent to remove such quotation.

     

    (h)  Absence
      of Liabilities.  Except as disclosed in the Form 10-QSB for the
      quarter ended March 31, 2007, the Company has no liabilities, except those
      arising in the ordinary course of business and which in no event exceed $50,000
      in the aggregate.  For a period of six months from the date hereof,
      the Corporation will not occur any indebtedness, other than in the ordinary
      course of business, without the prior written consent of the
      Purchaser.

     

    (i)  Legal
      Proceedings.  Except as disclosed in the Corporation’s Form 10-QSB
      for the quarter ended March 31, 2007, the Corporation is not a party to any
      legal proceeding.

     

    (j)  Non-Dilution.
      The Purchased Shares represent 49.68% of the total outstanding common stock
      of
      the Corporation and other than as disclosed in the Corporation’s 10-QSB for the
      quarter ended March 31, 2007 there are no securities convertible into or
      exercisable for common stock.  For a period of six months from the
      date hereof, the Corporation will not issue any additional shares of common
      stock or securities convertible into common stock without the prior written
      consent of the Purchaser.

     

    3.4  Survival
      of Representations and Warranties.  The representations and
      warranties of each Party contained in this Agreement shall survive the Closing
      for a period of three (3) years and thereafter terminate and be of no further
      force and effect.

     

    ARTICLE 4

     

    COVENANTS

     

    4.1  Covenants
      of the Vendor. The Vendor covenants and agrees
      with the Purchaser that the Vendor will make or cause to be made all regulatory
      filings and pay or cause to be paid all filing fees required to be made or
      paid
      by the Vendor with the OSC, SEC and other applicable securities regulatory
      authorities with respect to the sale of the Shares from the Vendor to the
      Purchaser within the time period prescribed by applicable Securities
      Laws.

     

    4.2  Covenants
      of Purchaser. The Purchaser covenants and agrees
      with the Vendor as that  the Purchaser will execute and deliver all
      documentation required by the Securities Laws and by applicable securities
      regulatory authorities in connection with its purchase of the
      Shares.

     

    4.3  Non-Disclosure.  The
      Parties agree that no disclosure will be made with respect to the existence
      of
      this Agreement or the transaction of purchase and sale contemplated herein
      unless:

     

    
      	
              (a)  

            	
              it
                is approved in advance by all Parties acting reasonably,
                or

            

    

     

    
      	
              (b)  

            	
              it
                is required by law including any Securities
                Law,

            

    

     

    and
      if
      such disclosure is required, the Party making the disclosure shall use
      reasonable efforts to give prior oral or written notice to the other Party,
      and
      if such prior notice is not possible, to give such notice immediately following
      the making of such disclosure.

     

    ARTICLE 5

     

    CONDITIONS
      ON CLOSING

     

    5.1  The
      Purchaser's obligation to purchase the Shares is subject to the conditions
      that
      the purchase of the Shares by the Purchaser from the Vendor is exempt from
      the
      registration requirements and prospectus filing requirements under applicable
      Securities Laws.

     

    5.2  If
      any of
      the conditions contained in Section 5.1 shall
      not be performed or fulfilled at or prior to the time of Closing to the
      satisfaction of the Party benefiting from the condition, acting reasonably,
      such
      Party may, by notice to the other Party, terminate this Agreement and the
      obligations of the Parties under this Agreement.  Any such condition
      may be waived in whole or in part by the Party benefiting from the condition
      without prejudice to any claims it may have for breach of covenant,
      representation or warranty.

     

    ARTICLE 6

     

    DELIVERIES

     

    6.1  Deliveries
      of the Vendor.  The Vendor shall deliver or cause to be
      delivered to the Purchaser on or before the Closing Date the
      following:

     

    
      	
              (a)  

            	
              share
                certificates representing the Purchased Shares duly endorsed for
                transfer
                together with a general assignment and powers of attorney transferring
                the
                Shares from the Vendor to the
                Purchaser;

            

    

     

    
      	
              (b)  

            	
              resolutions
                of the board of directors of the Vendor approving the sale of the
                Purchased Shares from the Vendor to the Purchaser, and the execution
                and
                delivery of this Agreement and other documents contemplated
                herein;

            

    

     

    
      	
              (c)  

            	
              the
                Share Pledge Agreement executed by the
                Vendor;

            

    

     

    
      	
              (d)  

            	
              all
                corporate records of the Corporation in the possession of the Vendor
                or
                directly or indirectly under the control of the Vendor (the
                "Corporate
                Records");

            

    

     

    
      	
              (e)  

            	
              any
                other resolutions or consents or any other documents that may be
                required
                to effect the transaction contemplated
                hereunder.

            

    

     

    6.2  Deliveries
      of the Purchaser.  The Purchaser shall deliver to the Vendor
      on or before the Closing Date:

     

    
      	
              (a)  

            	
              cheque
                or wire transfer in the amount of $30,000 payable to the Vendor
                representing the cash portion of the Purchase Price for the Purchased
                Shares due on the Closing Date;

            

    

     

    
      	
              (b)  

            	
              the
                Promissory Note; and

            

    

     

    
      	
              (c)  

            	
              the
                Share Pledge Agreement executed by the
                Purchaser;

            

    

     

    ARTICLE 7

     

    MISCELLANEOUS

     

    7.1  Expenses.  Each
      Party shall be responsible for its own legal fees and other charges incurred
      in
      connection with the negotiation of this Agreement.

     

    7.2  Further
      Assurances.  Each of the Parties shall promptly do, execute,
      deliver or cause to be done, executed or delivered all further acts, documents
      and things in connection with this Agreement that the other Party may reasonably
      require for the purposes of giving effect to this Agreement and take all such
      steps as may be reasonably within its power to implement to their full extent
      the provisions of this Agreement.

     

    7.3  Survival
      of Covenants.  To the extent that they have not been fully
      performed at or prior to the time of Closing, all covenants shall survive the
      Closing and shall continue indefinitely notwithstanding the
      Closing.

     

    7.4  Entire
      Agreement.  This Agreement constitutes the entire agreement
      between the Parties concerning the subject matter hereof and supersedes all
      prior statements, representations, discussions, negotiations and agreements,
      both oral and written, concerning the subject matter hereof.

     

    7.5  Amendment,
      Waiver.  No amendment, waiver or termination of this
      Agreement shall be binding unless executed in writing by the Party to be bound
      thereby and no such amendment or waiver shall extend to anything other than
      the
      specific subject matter thereof.  The failure at any time of a Party
      to insist upon strict performance of any provision of this Agreement shall
      not
      limit the ability of that Party to insist at any future time whatsoever upon
      the
      performance of the same or any other provision (except insofar as that Party
      may
      have given a valid and effective waiver or release).

     

    7.6  Notices.  Any
      notice, certificate, consent, determination, or other communication required
      or
      permitted to be given or made under this Agreement shall be in writing and
      shall
      be effectively given and made if (i) delivered personally, (ii) sent
      by courier service, or (iii) sent by fax, in each case to the applicable
      address set out below:

     

    For
      the
      Vendor:

     

    ETIFF
      Holdings, LLC

     

    144
      Front
      Street West, Suite 700

     

    Toronto,
      Ontario  M5J 2L7

     

    Fax:                      416-216-1164

     

    Attention:                                Jason
      Moretto

     

    For
      Purchaser:

     

    Foundation
      Venture Leasing Inc., in Trust

     

    95
      Wellington Street West, Suite
      1200

     

    Toronto,
      Ontario  M5J
      2Z9

     

    Fax:                      416-941-8852

     

    Attention:                                Jeremy
      Goldman

     

    Any
      such
      communication so given shall be deemed to have been given and received on the
      day of delivery if delivered, or on the day of faxing, provided that such day
      in
      either event is a Business Day and the communication is so delivered, or faxed,
      before 4:30 p.m. (local time) on such day.  Otherwise, such
      communication shall be deemed to have been given and received on the next
      following Business Day.  Any Party may change its address under this
      section by notice to the other Party given in the manner provided in this
      section.

     

    7.7  Severability.  Each
      of the provisions contained in this Agreement is distinct and severable and
      a
      declaration of invalidity or unenforceability of any provision of this Agreement
      by a court of competent jurisdiction, including the breadth or scope of such
      provision, shall not affect the validity or enforceability of any other
      provision, or part thereof, of this Agreement.  To the extent
      permitted by applicable law, the Parties waive any provision of law which
      renders any provision of this Agreement invalid or unenforceable in any
      respect.

     

    7.8  Successors.  This
      Agreement shall be binding upon and shall enure to the benefit of the Parties
      hereto and their respective successors and permitted assigns.

     

    7.9  Assignment.  This
      Agreement may not be assigned by a Party without the prior written consent
      of
      the other Party.

     

    7.10  Counterparts.  This
      Agreement may be executed in counterparts, each of which shall be considered
      an
      original and both of which taken together shall constitute a single
      agreement.  For the purposes of this Section 7.10, a facsimile copy of an executed counterpart
      of
      this Agreement shall be deemed to be an original.

     

    7.11  Governing
      Law.  This Agreement shall be governed by and construed in
      accordance with the laws of the Province of Ontario and the laws of Canada
      applicable therein.  Each of the Parties hereto hereby attorns to the
      jurisdiction of the courts of the Province of Ontario in the event of a
      dispute.

     

    7.12  Independent
      Legal Advice. The Parties hereby acknowledge that they have either been
      represented by independent legal counsel in respect of the negotiation and
      completion of this Agreement and the matters contemplated herein or have been
      provided the opportunity to obtain independent legal counsel.  To the
      extent that a Party hereto has declined to receive independent legal counsel,
      such Party hereby waives the right, should a dispute later develop, to rely
      on
      its lack of independent legal counsel to avoid its obligations, to seek
      indulgences from the other Parties hereto or to otherwise attack the integrity
      of this Agreement or any of the provisions hereof, in whole or in
      part.

     

    

     

    SIGNATURE
      PAGES TO FOLLOW

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    IN
      WITNESS WHEREOF the Parties hereto have executed this
      Agreement.

     

    ETIFF
      HOLDINGS, LLC.

    

    

    

    Per:           

    Name:

    Title:

    

    I
      have
      the authority to bind the corporation.

    

    

    FOUNDATION
      VENTURE LEASING INC., in Trust

    

    

    

    Per:           

    Name:

    Title:

    

    I
      have
      the authority to bind the corporation.

    

    

    EIGER
      TECHNOLOGY, INC.

    

    

    

    Per:           

    Name:

    Title:

    

    I
      have
      the authority to bind the corporation.

    

    

    RACINO
      ROYALE, INC.

    

    

    

    Per:           

    Name:

    Title:

    

    I
      have
      the authority to bind the corporation.

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