Document:

Exhibit
10.66

 

OMNIBUS AMENDMENT

 

This
OMNIBUS AMENDMENT (this “Amendment”), dated as of March 13, 2009 (the “Effective
Date”), by and among Averion International Corp., a Delaware corporation
(the “Company”), on the one hand, and (i) the 2007 Buyers (defined
below) holding at least sixty six and two thirds percent (66 2/3%) of the
aggregate original principal amount of the 2007 Notes (defined below) (a “2007
Required Majority”); and (ii) the 2008 Buyers (defined below) holding at
least sixty six and two thirds percent (66 2/3%) of the aggregate original
principal amount of the 2008 Notes (defined below) (a “2008 Required
Majority”), on the other hand, amends: (i) that certain Securities Purchase
Agreement by and among the Company and the 2007 Buyers dated as of October 31,
2007, as amended on November 5, 2007, and further amended on June 27, 2008 (the
“2007 Securities Purchase Agreement”); and (ii) those certain Notes
(defined below) entered into in connection with the 2007 Securities Purchase
Agreement and 2008 Securities Purchase Agreement (defined below) between the
Company and each Buyer (defined below). 
Capitalized terms not otherwise defined herein shall have the meanings
ascribed to them in the 2007 Securities Purchase Agreement or the 2008
Securities Purchase Agreement, as applicable.

 

RECITALS

 

WHEREAS, the Company, on the one hand, and
certain buyers, on the other hand (the “Initial 2007 Buyers”),
previously entered into the 2007 Securities Purchase Agreement on October 31,
2007, pursuant to which the Company sold Twenty Four Million Dollars
($24,000,000) of senior secured notes to the Initial Buyers (the “Initial
2007 Notes”) and issued an aggregate of one hundred fifteen million two
hundred thousand (115,200,000) shares of the Company’s common stock to the
Initial 2007 Buyers;

 

WHEREAS, the Company, on the one hand, and
certain additional buyers, on the other hand (the “Additional 2007 Buyers,”
and together with the Initial 2007 Buyers, the “2007 Buyers”),
previously entered into that certain Amendment to Securities Purchase Agreement
and Joinder Agreement dated as of November 5, 2007, pursuant to which the
Company sold an additional Two Million Dollars ($2,000,000) of senior secured
notes to the Additional 2007 Buyers (the “Additional 2007 Notes,” and
together with the Initial 2007 Notes, the “2007 Notes”) and issued an
aggregate of nine million six hundred thousand (9,600,000) shares of the
Company’s common stock to the Additional 2007 Buyers;

 

WHEREAS, the Company, on the one hand, and
certain additional buyers, on the other hand (the “2008 Buyers,” and
together with 2007 Buyers, the “Buyers”), previously entered into that
certain Securities Purchase Agreement by and among the Company and the 2008
Buyers dated as of June 27, 2008 (the “2008 Securities Purchase Agreement”),
pursuant to which the Company sold an additional Two Million Dollars
($2,000,000) of senior secured notes to the 2008 Buyers (the “2008 Notes,”
and together with the 2007 Notes, the “Notes”) and issued an aggregate
of nine million six hundred thousand (9,600,000) shares of the Company’s common
stock to the 2008 Buyers;

 

WHEREAS, pursuant to Section 4(h) of the
2007 Securities Purchase Agreement, in the event that any 2007 Buyer’s Note is
outstanding on the first (1st)
anniversary of its respective Closing Date, whether such date be October 31,
2008 or November 5, 2008, the Company shall pay such 2007 Buyer a transaction
fee in an amount of cash equal to two percent (2%) of the Purchase Price of
such outstanding 2007 Note (the “Transaction Fee”);

 

WHEREAS, pursuant to Section 4 of each
Note, interest accrues on each Note and is payable by the Company in cash on
the last day of each calendar quarter, beginning with the calendar quarter that
commenced on, with respect to the 2007 Notes, October 1, 2007, and with respect
to the 2008 Notes, April 1, 2008 (each, a “Quarterly Interest Payment”);

 

 

WHEREAS, pursuant to Section 3(b) of each
Note, on the twentieth (20th) day
following each calendar quarter, the Company shall deliver to each Buyer a
certificate setting forth the Revenue Ratio, the Net Book-to-Bill Ratio, the
EBITDA Ratio and the Cash and Cash Equivalents (each as defined in the Notes)
and in the event that there is a Financial Covenant Test Failure (as defined in
the Notes) as of the last day immediately preceding such calendar quarter, the
Company shall immediately prepay to each Buyer an amount equal to each Buyer’s
Pro Rata Financial Covenant Test Failure Amount (as defined in the Notes)
(each, a “Mandatory Prepayment Upon a Financial Covenant Test Failure”);

 

WHEREAS, (A) the Company and a 2007
Required Majority now desire to amend Section 4(h) of the 2007 Securities
Purchase Agreement to reflect that the Transaction Fee due to the 2007 Buyers
upon the one (1) year anniversary of their respective Closing Dates shall be
paid on the date hereof, at the option of each 2007 Buyer, either by: (a) paying
to each 2007 Buyer an amount of cash equal to such 2007 Buyer’s Transaction Fee
amount, or (b) by issuing to each 2007 Buyer, in lieu of a cash payment equal
to such 2007 Buyer’s Transaction Fee amount, a new senior secured note in
principal amount equal to three percent (3%) of the Purchase Price of such 2007
Buyer’s Note and on the same terms and conditions as the 2007 Notes (the “New
Notes”); and (B) the Company, a 2007 Required Majority and a 2008 Required
Majority now desires to: (i) amend Section 4 of each Note to provide that the
Quarterly Interest Payments for the calendar quarters commencing on October 1,
2008 and January 1, 2009 shall be due and payable by the Company to each Buyer
on June 30, 2009; and (ii) provide that for a period of one (1) year after the
Effective Date, each Buyer waives any and all right to a Mandatory Prepayment
Upon a Financial Covenant Test Failure as set forth in the Notes or New Notes
and waives any and all rights and remedies arising from any Financial Covenant
Test Failure as set forth in the Notes or New Notes, including, without
limitation, rights and remedies arising if: (A) the Revenue Ratio is less than
the Required Revenue Ratio; (B) the Net Book-to-Bill Ratio is less than the
Required Net Book-to-Bill Ratio, (C) the EBITDA Ratio is less than the Required
EBITDA Ratio, or (D) the Cash and Cash Equivalents are less than the Required
Cash Amount (each as defined in the Notes); and

 

WHEREAS,  (i)
pursuant to Section 11(e) of the 2007 Securities Purchase Agreement, the
Company and a 2007 Required Majority must consent to any amendment to the 2007
Securities Purchase Agreement, with any such amendment approved by the 2007
Required Majority binding on all 2007 Buyers; (ii) pursuant to Section 6 of
each 2007 Note, the Company and a 2007 Required Majority must consent to any
amendment to the 2007 Notes, with any such amendment approved by the 2007
Required Majority binding on all 2007 Buyers; and (iii) pursuant to Section 6
of each 2008 Note, the Company and a 2008 Required Majority must consent to any
amendment to the 2008 Notes, with any such amendment approved by the 2008
Required Majority binding on all 2008 Buyers.

 

NOW THEREFORE, for good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged,
the parties agree as follows:

 

A M E N D M E N T

 

1.                                       Amendment
to 2007 Securities Purchase Agreement. 
The last sentence of Section 4(h) of the 2007 Securities Purchase
Agreement is hereby deleted and replaced in its entirety by the following text:

 

“In addition, in the event any Buyer’s Note is
outstanding on the first (1st) anniversary of the Closing Date, the Company shall pay
such Buyer a transaction fee in an amount equal to two percent (2%) of the
Purchase Price of such outstanding Note, which transaction fee shall be paid on
March 13, 2009, at the option of each Buyer, either by (i) paying to such Buyer
a cash payment in an amount equal to two percent (2%) of 

 

2

 

the Purchase Price of such Buyer’s original Note, or
(ii) issuing to such Buyer, in lieu of a cash payment of such transaction fee,
a new senior secured note on the same terms and conditions as set forth in such
Buyer’s original Note in a principal amount equal to three percent (3%) of the
Purchase Price of such Buyer’s original Note.”

 

2.                                       Amendments
to Notes.

 

a.           Amendment
to Quarterly Interest Payments. 
Section 4 of each Note shall be, and hereby is, amended to provide that
the Quarterly Interest Payment amounts for the calendar quarters commencing on
October 1, 2008 and January 1, 2009 shall not be due and payable to the Buyers
until June 30, 2009.

 

b.           Waiver
of Mandatory Prepayment Upon a Financial Covenant Test Failure.  For the period of one (1) year after the
Effective Date, each Buyer hereby waives any and all right to a Mandatory
Prepayment Upon a Financial Covenant Test Failure as set forth in the Notes and
waives any and all other rights or remedies arising from any Financial Covenant
Test Failure as set forth in the Notes, including, without limitation, rights
and remedies arising if: (A) the Revenue Ratio is less than the Required
Revenue Ratio; (B) the Net Book-to-Bill Ratio is less than the Required Net
Book-to-Bill Ratio, (C) the EBITDA Ratio is less than the Required EBITDA
Ratio, or (D) the Cash and Cash Equivalents are less than the Required Cash
Amount (each as defined in the Notes). 
For the avoidance of doubt, to the extent a Financial Covenant Test
Failure exists during such one (1) year period, no Mandatory Prepayment Upon a
Financial Covenant Test Failure shall ever be due related thereto.

 

c.           Treatment
of New Notes.  Each Buyer
acknowledges and agrees that any New Note issued hereunder shall also be
subject to the amendments and waivers set forth in this Section 2.

 

3.                                       Full
Force and Effect.  Except as modified
above, all other terms and provisions of the Agreement shall remain in full
force and effect in accordance with their terms.

 

4.                                       Miscellaneous.

 

a.           Agreement
Amended.  Subject to the provisions
of this Section 4, this Amendment shall be deemed to be an amendment to the
2007 Securities Purchase Agreement and the Notes.  All references to the 2007 Securities
Purchase Agreement or the Notes in any other document, instrument, agreement or
writing hereafter shall be deemed to refer to the 2007 Securities Purchase
Agreement and Notes as amended hereby.

 

b.           Successors
and Assigns.  This Amendment shall be
binding upon and inure to the benefit of the Company, the Buyers and their
respective successors and assigns.

 

c.           Governing
Law.  This Amendment and the rights
and obligations of the parties hereunder shall be construed in accordance with
and governed by the laws of the State of New York, without regard to conflict
of laws principles.

 

d.           Counterparts.  This Amendment may be executed in multiple
counterparts, each of which shall be deemed an original and together shall
constitute one document.  This Amendment
may be executed and transmitted via facsimile or electronic transmission in PDF
form with the same validity as if it were an ink-signed document.

 

3

 

IN WITNESS WHEREOF, the Company, a 2007
Required Majority and a 2008 Required Majority have caused this OMNIBUS
AMENDMENT to be duly executed as of the Effective Date.

 

	
   

  	
  COMPANY:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  AVERION
  INTERNATIONAL CORP.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Lawrence R.
  Hoffman

  
	
   

  	
  Name:  Lawrence R. Hoffman

  
	
   

  	
  Title:  Chief Financial Officer

  

 

 

[Company Signature
Page to Omnibus Amendment]

 

 

	
   

  	
  BUYERS:

  
	
   

  
	
   

  	
  Executed
  with respect to all 2007 Notes or 2008 Notes held by such Buyer:

  
	
   

  	
   

  
	
   

  	
  COMVEST
  INVESTMENT PARTNERS II LLC,  a Delaware

  
	
   

  	
  limited
  liability company

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Michael Falk

  
	
   

  	
  Name:

  	
  Michael Falk

  
	
   

  	
  Title:

  	
  Managing Member

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  CUMULUS
  INVESTORS, LLC,  a
  Nevada limited liability

  company

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Nader J.
  Kazeminy

  
	
   

  	
  Name: 

  	
  Nader J.
  Kazeminy

  
	
   

  	
  Title:

  	
  Chairman and
  President

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  /s/ Philip T.
  Lavin, Ph.D.

  
	
   

  	
  PHILIP
  T. LAVIN, PH.D., in his individual capacity

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
  /s/ Dr. Gene
  Resnick

  
	
   

  	
  DR.
  GENE RESNICK, in his individual capacity

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  MICROCAPITAL
  FUND, LTD.,  a
  Cayman-domiciled

  investment corporation

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Ian P. Ellis

  
	
   

  	
  Name: 

  	
  Ian P. Ellis

  
	
   

  	
  Title: 

  	
  Director

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  MICROCAPITAL
  FUND LP,  a
  Delaware limited partnership

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Ian P. Ellis

  
	
   

  	
  Name: 

  	
  Ian P. Ellis

  
	
   

  	
  Title: 

  	
  President

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
				

[Buyer Signature
Page to Omnibus Amendment]Exhibit 10.09

 

LEASE AGREEMENT

 

THIS LEASE AGREEMENT (“THE
AGREEMENT”) IS ENTERED BY AND BETWEEN “COPROPIEDAD ARTE Y DISENO”, (THE “LESSOR”)
REPRESENTED BY MR. FRANCISCO JAVIER MORENO SANCHEZ AND “GPI MEXICANA,
S.A. DE C.V.” (THE “LESSEE”) REPRESENTED BY MR. GERARD P. CHARLIER, PURSUANT
TO THE FOLLOWING RECITALS AND CLAUSES:

 

RECITALS

 

I The
LESSOR represents:

 

a) That COPROPIEDAD ARTE Y DISENO is the name for commercial purposes
used to identify the co-ownership over the land and Building subject matter of
this AGREEMENT. Such co-ownership is formed by Mr. Francisco Javier Moreno
Sanchez jointly with his wife Ms. Maria del Carmen Collado Bosch of
Moreno; Ms. Gloria Maria Moreno Sanchez of Ruiz jointly with her husband Mr. Galo
Ruiz Moreno and Mrs. Esperanza Bosch Tejeda widow of Collado.

 

b) That LESSOR holds title
over the Industrial facility (The “BUILDINGS”) which is the matter of this
AGREEMENT and identified as Buildings #1 and land #2 located at Avenida
Transformacion y Calle Samuel Ocaña Garcia being built on lot number 9 and 10
of block number 2,, in the Industrial Park in San Luis Rio Colorado Sonora.,
Mexico.

 

c) That the co-owners of COPROPIEDAD ARTE Y DISENO are duly registered
before the Federal Registry of Taxpayers (RFC) MOSF 560128 7P7.

 

d) That Mr. Francisco
Javier Moreno Sanchez has sufficient authority to execute this AGREEMENT on
behalf of LESSOR as evidenced in the Public Deed and whose authority has not
been revoked or limited in any way.

 

e) That LESSOR has the
intention to lease to LESSEE the BUILDINGS as identified in the recital I b),
pursuant to the terms and conditions contained in this AGREEMENT.

 

II
The LESSEE represents:

 

a) That it is a Company duly
organized and existing pursuant to the laws of Mexico as evidenced in Public
Deed # 1,189 dated October 23, 1984, issued by Mr. Rafael Godoy
Jaramillo Notary Public # 88, of San Luis Rio Colorado, Sonora, duly registered
under number 1052 Volume XVII, Section 5, of the Public Registry Office of
San Luis Rio Colorado Sonora.

 

b) That its corporate
purpose allows the execution of this AGREEMENT.

 

c) That it is duly
registered before the Federal Registry of Taxpayers (RFC) with number GME841026H38.

 

d) That Mr. Gerard P.
Charlier has sufficient authority to execute this AGREEMENT on behalf of LESSEE as evidenced in Public deed number # 10,348, dated January 17, 2003 passed
before the faith of Notary Public # 17 of Tlaquepaque,
Jalisco, Mr. Agustin Ibarra Garcia de Quevedo, which
authority has not been revoked or limited in any way.

 

e) That LESSEE has the
intention to lease from LESSOR the BUILDING, as identified in the recital
I b) and in the Exhibits “A” and
“B” pursuant to the terms and conditions contained in this agreement.

 

1

 

THEREFORE, in consideration of their mutual covenants and agreements, the parties agree to enter into this
AGREEMENT, according to the terms and conditions, contained in the following:

 

ARTICLES

 

ARTICLE
1. Definitions

 

1.1. LESSOR: “COPROPIEDAD
ARTE Y DISEÑO” represented by Mr. Francisco
Javier Moreno Sanchez.

 

1.2. LESSEE: “GPI
MEXICANA, S.A. de C.V.”, represented by its Sole Administrator Mr. Gerard
P. Charlier.

 

1.3. The BULDINGS:
The Industrial facilities owned by LESSOR located at Av. De la Transformacion
and Calle Samuel Ocana Garcia on lots number 9 and 10 of the block number 2 in
the Industrial Park in San Luis Rio Colorado, Sonora, Mexico, which has been
identified in the blue prints attached to this Agreement as Exhibit “A” &
“B”of this Agreement.

 

1.4 RENT: The amount
that shall be paid by LESSEE to LESSOR in monthly installments during the term
of this AGREEMENT for the use and occupation of the BUILDINGS. The RENT was
agreed by the parties in
the fixed amount of USD $0.35 (thirty- five cents of
dollar legal currency of the United State of America) per square feet
effectively used by LESSEE during the term of the AGREEMENT. The RENT currently
totals the amount of USD
$28,140.00 (twenty-eight thousands one
hundred forty dollars 00/100 legal currency of the United States of
America) based on the square feet
of BUILDINGS that will be actually used
by LESSEE.

 

1.5 TERM.- The period in which the
Lease AGREEMENT wil1 be in force.
The term is 5 (five) years
beginning as of January 1,
2009 and ending on December 31, 2013. At the end of the TERM the LESEE
will have the options set forth in Article 4.1 below.

 

ARTICLE
2. Purpose

 

2.1 LESSOR agrees to lease
to LESSEE who agrees to lease from LESSOR the
BUILDINGS as of the beginning of
the TERM of this AGREEMENT.

 

2.2 The date of
beginning of the TERM will be the date for commencement of the obligations
under the AGREEMENT.

 

ARTICLE
3. Rent

 

3.1 LESSEE shall pay the RENT to LESSOR monthly and in
advance during the first 10 (ten) natural days of each month at LESSEE’s domicile
located at Av.de la Transformacion y Dr.Samuel Ocana, San Luis Rio Colorado
Sonora Mexico.

 

3.2 The RENT has been agreed
by the Parties in the fixed amount of USD $0.35 (thirty-five cents of  dollar legal currency of the United States of
America) per square feet of the BULDINGS effectively used by LESSEE for the
TERM of the AGREEMENT. The RENT currently totals the amount of USD $28,140.00 (twenty-eight thousands one hundred forty dollars 00/100
legal currency of the United States of America) based on the 80,400 square feet
of BUILDINGS that will be initially used by LESSEE. Such RENT shall be paid at
LESSOR’s choice in US Dollars (legal currency of the United States of America)
or in Mexican Pesos at the exchange rate to comply with obligations published by
Bank of Mexico on the date such RENT is paid plus the Value Added Tax (IV A).

 

2

 

3.3 LESSOR shall deliver the
corresponding receipt to evidence payment of the RENT within the following 5
(five) days of receiving such payment. Such receipt shall fulfill the
requirements of the applicable tax laws and regulations in force on the date
when LESSEE makes such payment.

 

3.4  If LESSOR occupies the BUILDING for a partial
month the RENT shall be prorated.

 

ARTICLE
4. Term

 

4.1 The TERM of this
AGREEMENT is 5 (five) years. This
AGREEMENT will begin its TERM on January 1, 2009 and shall end precisely
on December 31, 2013. At the end of the TERM LESSEE shall have to its own
discretion the following Options: (I) To renew the AGREEMENT for I (one)
year on the same terms and conditions having the right for terminating the
AGREEMENT at any time giving notice to LESSOR with 6 months in advance. (2) To
reduce the space leased of the BUILDINGS and continuing with the AGREEMENT in
the same terms and conditions with the corresponding RENT reduction.

 

4.2 LESSEE may exercise
either Option set forth in 4.1 above by giving notice in writing to the LESSOR
of its decision at least 30 (thirty) natural days in advance to the expiration
of the TERM.

 

4.3 If LESSEE continues
occupying the BUILDINGS at the end of the TERM of the AGREEMENT, as determined
in Article 4.1 without having exercised any of the Options referred to in
the above paragraph, LESSEE will pay to LESSOR the corresponding amount of RENT
during the TERM it continues in possession of the leased BUILDINGS from the
last day of the TERM of the AGREEMENT and until it vacates the BUILDING, the
payment referred to herein will not be consider an extension of the AGREEMENT.

 

ARTICLE 5. Building Use

 

5.1  LESSEE will use the BUILDINGS to perform its
main activities, which include without limitation, the manufacture of dice,
chips, plastic items and layouts, as well as any related activity.

 

5.2 LESSEE agrees to use the
BUILDINGS in accordance with this AGREEMENT and with any other law or
regulation applicable to the use of the BUILDINGS by LESSEE.

 

5.3 LESSEE is allowed to
introduce and store in the BUILDINGS those materials that are required or
useful for the performance of its manufacturing activities, even though they
are classified as hazardous materials or residues, flammable materials or
explosives. LESSEE shall store and dispose them in accordance with industry
standard procedures and federal, state and local laws.

 

5.4 LESSEE may only store
trash temporarily within the BUILDINGS and shall arrange for regular pickup of
trash at its expense. LESSEE shall not burn any trash of any kind in or about
the BUILDINGS.

 

ARTICLE
6. Insurance

 

6.1 LESSEE shall obtain and
maintain in force during the term of the AGREEMENT at its own expense a comprehensive
insurance policy (ies) from a recognized insurance company authorized to issue
insurance in 

 

3

 

San Luis Rio Colorado
Sonora.

 

6.2 Such policy (ies) shall
cover property damage of LESSOR and LESSEE. Civil liability (for injury to
persons and property and for death of any person occurring in the leased
BUILDINGS); for acts of God and for damages caused to the BUILDINGS or third
persons or Property for the storage of hazardous materials.

 

6.2.1 The Policy to cover
property damage and civil liability shall insure LESSEE and LESSOR and such
other agents and employees of LESSOR, LESSOR’s subsidiaries or affiliates or
LESSOR’S assignees or any nominee of LESSOR holding any interest in the Leased
property, against liability for injury to persons and property and for death of
any person occurring in or about the BUILDINGS. The liability of such insurance
shall be in the amount of no less than USDS400.000.00 (Four hundred thousand
dollars legal currency of the United States of America) or its equivalent in
Mexican Currency at the exchange rate published by Bank of Mexico to comply
with obligations effective in the contracting date.

 

6.2.2 The policy of insurance
for fire, lighting, explosion. falling aircraft:, smoke windstorm eartquake,
hail, vehicle damage, volcanic eruption, strikes, civil commotion, vandalism,
riots,  malicious
mischief, steam boiler or pressure object explosion if applicable and flood insurance
of the BUILDING shall be for a liability equivalent of USD $l’OOO,OOO.OO (One
million dollars legal currency of the United States of America) or its
equivalent in Mexican Currency at the exchange rate published by Bank of Mexico
to comply with obligations effective in the contracting date.

 

6.3 LESSEE shall obtain and
maintain in force during the term of the AGREEMENT the insurance policy (ies)
to cover the issues mentioned in 6.2 above. Such Policy (ies) shall mention
that it/they is/are not subject to cancellation or change until the termination
of the Lease AGREEMENT. The Policies together with copies or receipts for
payment of the premiums thereof, shall be delivered to LESSOR no more than (30)
days following the execution of this AGREEMENT. All documents verifying the
renewal of such policy (ies) shall be delivered to LESSOR at least (30) days
prior to the expiration of the term of such coverage. Prior to the commencement
date of the TERM each party shall procure and maintain the insurance covering
its own liability and Property as each deems appropriate.

 

6.4 Except for the Insurance
upon LESSEE’s property, LESSOR and its beneficiaries shall be appointed
irrevocably as beneficiaries for any and all proceeds as their interest may
appear.

 

ARTICLE
7. Installations & Tenant Improvements

 

7.1 LESSEE may at its
expense, install on the leased BUILDINGS, such trade fixtures, equipment and
furniture it may deem necessary, provided that such items are installed and are
removed without causing damage to the structural integrity of the BUILDINGS.
Said trade fixtures; equipment and furniture shall remain LESSEE’S property.

 

7.2 LESSEE may perform
improvements in the BUILDINGS considered, useful, necessary, or decorative,
without prior written authorization of LESSOR, provided that such improvements
are installed and are removable without causing damage to the structure of the
BUILDINGS.

 

7.3 LESSEE shall repair any
damage caused by the installation or removal of trade fixtures, equipment,
furniture and improvements.

 

7.4 LESSEE shall require
LESSOR’S written consent, which LESSOR shall not unreasonably withhold, to make
any structural modification or alteration costing in excess of USD $100,000.00 (one hundred thousand dollars
legal currency of the United States of America) to the BUILDINGS. LESSOR may
authorize changes 

 

4

 

necessary for the
appropriate use of the BUILDING, which will be made at LESSEE’S expense. LESSOR
may at its election, directly or through a third party, perform, or authorize
LESSEE to perform, the construction including of any improvements that parties
mutually agree are necessary for the appropriate use of the Premises, by a
written authorization of the blue prints detailing the improvements to be made.
Concerning improvements LESSEE will have the rights conferred by Article 2717
and any other relevant articles of the Civil Code of the State of Sonora.

 

ARTICLE
8. Maintenance and Repair

 

8.1 After receipt of written
notice from LESSEE, LESSOR at its own expense shall promptly and with minimum
interference to the operation of LESSEE proceed to repair defects which are
necessary for the adequate functioning of the BUILDINGS e.g. structural defects
in the roof or exterior wall pursuant to Articles 2684 and 2685 of the
Civil Code of the State
of Sonora.

 

8.2 The LESSEE shall be
responsible for all minor repairs to the BUILDINGS.

 

ARTICLE
9. Subleasing and Assignment

 

9.1        LESSEE will under no circumstances sublease all or part of the
BUILDINGS; nor assign it to third parties, according to the terms of Artic 2751
of the Civil Code of the State of Sonora, unless prior written authorization by
LESSOR is given, which authorization will not be unreasonably withheld;
provided, however, that LESSEE may assign or sublease all or part of the
BUILDINGS without LESSOR’s consent if LESSEE remains liable to LESSOR under
this AGREEMENT.

 

9.2        Nothwithstanding the above LESSEE may sublease or assign all or a part
of the BUILDINGS to LESSEE’s parent, subsidiary or affiliates without having
LESSOR’s consent.

 

ARTICLE
10.- Services

 

10.1 LESSEE will have the
right to contract the utility services, which it considers necessary for the
adequate operation of its facilities, such as telephone, electricity, water,
gas, which will be under its account.

 

10. At AGREEMENT’s termination and before vacating the BUILDINGS,
LESSEE shall provide evidence to the LESSOR that such services have been duly
paid.

 

ARTICLE 11. Right of First Refusal, Right of Preference and Extent

 

11.1 LESSEE has the right of
first refusal referred to in Article 2717 of the Civil Code of the State
of Sonora, in the event LESSOR wishes to conveyor transfer any right it has
over the BUILDINGS.

 

11.2 LESSEE has the right of
preference referred to in Article 2717 of the Civil Code of the State of
Sonora, in the event that the LESSEE is current with payment of the rent.

 

11.3 LESSEE has the right to
extend the AGREEMENT referred to in Article 2763 of the Civil Code of the

 

5

 

State of Sonora.

 

ARTICLE
12. Damage or Destruction

 

12.1 In the event that
BUILDINGS are damaged by fire or other perils covered by insurance, LESSOR
agrees to forthwith repair same except as mentioned below and this AGREEMENT
shall remain in fun force and effect except that LESSEE shall be entitled to a
proportionate reduction in the RENT from the date of damage and while such
repairs are being made. Such proportionate reduction shall be based upon the
extent to which the damage and making of such repairs shall reasonably
interfere with the business carried out by the LESSEE in the BUILDINGS.

 

12.2
In the event the BUILDINGS are damaged during the term of the AGREEMENT as a
result of any other cause than the perils covered by fire and extended coverage
insurance, then LESSOR shall forthwith repair the same provided the extent of
the destruction is less than 25% of the full replacement cost of the BUILDINGS.  In the event the destruction of the BUILDING
is to an extent 25% or more of the full replacement cost of the BUILDINGS then
LESSOR shall have the option to:

 

12.2.l To repair or restore
such damage, this AGREEMENT continuing in full force and effect, but the RENT
proportionately reduced as provided above or

12.2.2 To give notice to
LESSEE at any time within (60) days after the damage, terminating this
AGREEMENT as of the date specified in such notice, which .termination date
shall be no more than thirty (30) days after the giving of such notice. In this
case the proportional RENT shall be paid up to date of the termination. In the
event of giving such notice, this AGREEMENT shall expire and all interest of
LESEE in the BUILDINGS shall terminate on the date so specified in such notice.

 

ARTICLE
13. Waiver and Indemnification

 

13.1 LESSOR is not responsible
for thefts, accidents, fire, earthquake or acts of God, that may cause damage
to the LESSEE, its assets, employees, guests, the BUILDINGS, or third parties.

 

13.2 LESSEE will indemnify
and hold harmless LESSOR for any damages caused to third parties on the
BUILDINGS, and will defend at LESSEE’S expense, any claim, lawsuit, or
proceeding brought against LESSOR, because of its relationship as LESSOR &
LESSEE, unless those damages are caused by LESSOR.

 

ARTICLE 14. Taxes.

 

14.1 The parties are responsable
to pay their respective state, federal or municipal taxes, related with this
AGREEMENT that according to the applicable legislation correspond to them. To
that effect LESSEE binds to pay each and everyone of the fiscal obligations of
the Federation, State or Municipality inherent to the industrial business or
destiny given to the BUILDINGS, releasing the LESSOR from all obligation
related with the foregoing. The LESSOR on its part binds to cover all the
federal, state or municipal taxes related with this AGREEMENT to which it is
bound in its capacity of owner of the BUILDINGS and LESSOR, releasing LESSEE
from any obligation related with the foregoing.

 

ARTICLE
15. Causes of Termination

 

15.1 The LESSOR can
terminate this AGREEMENT, regardless of the causes established by the law, due
to

 

6

 

the causes established in
section 15.2 below; provided however in the event of default, the LESSOR shall
notify LESSEE in writing that it is not complying with an obligation of LESSEE
under this AGREEMENT and LESSEE will have a term of 30 (thirty) calendar days
as of the day in which it received such notice to remedy such default.

 

15.2 Causes in which the
LESSOR may terminate this AGREEMENT:

 

15.2.1
Vacation or abandonment of the BUILDINGS.

 

15.2.2 Consecutive
non-payment of two monthly RENTS.

 

15.2.3
Making modifications or tenant improvements in violation of this AGREEMENT.

 

15.2.4
Subletting or assigning the BUILDINGS in violation of this AGREEMENT.

 

15.3 Causes for which the
LESSEE may terminate this AGREEMENT:

 

15.3.1 In case that LESSOR
does not allow LESSEE the use and enjoyment of the BUILDINGS.

 

15.3.2
Due to the LESSOR’s failure to make repairs.

 

15.3.2
For LESSOR’s default of any of its obligations under this AGREEMENT.

 

15.4 If the
defaulting party does not cure its default during the period to Cure, the
affected party may immediately terminate this Agreement or claim specific
performance:

 

15.5 This AGREEMENT may be
terminated, at any time before the end of the TERM, by written consent of both
parties.

 

ARTICLE
16. Dispute Resolution

 

16.1 For any conflict
arising under this AGREEENT, or its interpretation, the parties will give
written notice{9f the same to the other party, thereafter, the parties will
negotiate a resolution to the dispute in good faith. If after 15 days from the
date of receipt of such notice, Parties are unable to resolve the dispute, it
will be submitted to arbitration as established in this Article.

 

16.2 Any controversy or
claim arising out of or relating to this AGREEMENT not resolved according to
Clause 16.1 herein, shall be submitted to the American Arbitration Association
(AAA) to be resolved by arbitration in accordance with the rules of the
AAA.

 

16.2.1 There shall be one
arbitrator appointed by mutual agreement of the parties. If the parties fail to
agree on an arbitrator, the arbitrator shall be appointed according to the
procedures of the AAA.

16.2.2
The place of arbitration shall be Las Vegas Nevada, United States of America.

16.2.3
The language of the arbitration shall be English.

16.2.4 The arbitration panel
or the single arbitrator will apply the laws of the State of Sonora, Mexico.

16.2.5 The prevailing party
will be entitled to attorney’s fees and arbitration costs from the 

 

7

 

losing party .

 

ARTICLE
17. Miscellaneous

 

17.1 Entire Agreement. This
AGREEMENT constitutes the entire agreement with respect to the matters
described herein, and supersedes any other oral or written agreement between
the parties.

 

17.2 Amendments The
terms of this AGREEMENT may only be amended or modified by written agreement
signed by the parties or its authorized representatives.

 

17.3
Consent.- Whenever the prior consent of a party, written or otherwise is
required as a condition for any act by the other party under this AGREMENT,
such party agrees not to arbitrarily withhold such consent.

 

17.4 Quiet Enjoyment.- LESSOR
agrees that LESSEEE upon paying the RENT and all other charges provided for
herein and upon complying with all of the terms and provisions of the AGREEMENT
shall lawfully and quietly occupy and enjoy the BUILDINGS during the TERM.

 

17.5 Access to the
BUILDINGS.- LESSOR or its authorized representative has the right to
inspect the leased BUILDING at any time during the normal business hours of
LESSEE with 72 hours prior written notice and in emergencies at all times. For
a period commencing 90 days prior to the termination of this AGREEMENT, LESSOR
shall have prior appointment access to the BUILDINGS for the purpose of
exhibiting it to prospect clients and may post announcements for sale or lease
on the BUILDINGS.

 

17.6 Controlling
Language. This Agreement has been prepared in English. Any party can
request its legal translation into Spanish at its own expense.

 

17.7 Applicable Law: It
is agreed by the parties hereto that this Agreement shall be interpreted in
accordance with the laws of Mexico specially to the regulations of the Sonora
State, Civil Code.

 

17.8 Severability :
In the event that any provision of this Agreement is held by a court of
competent jurisdiction to be unenforceable because it is invalid or in conflict
with any law of any relevant jurisdiction, the validity of the remaining
provision shall not be affected, and the rights and obligations of the parties
shall be construed and enforced as if the Agreement did not contain the
particular provision held to be unenforceable.

 

17.9 Headings It is
agreed by the parties hereto that the headings of the clauses herein have been
included for convenience only and do not form any part of the Agreement

 

17.10 Notices: Any
notice, communication, waiver, or consent, required or permitted to be given
under this Agreement, or the change of address which is being notified, shall
be in Writing and delivered by prepaid first class mail, facsimile or by
personal delivery to the address of the relevant Party, and any notice so
delivered shall be deemed to have been received. Notice of any change of
address shall be made to the other party as soon as such new address becomes
effective. All such notices and communications shall be effective: a) went sent
by an overnight courier service of recognized standing, on the second business
day following the deposit with such service b)when delivered by hand, upon
delivery; c)when faxed, upon confirmation of receipt; or d) by any other means,
upon receipt.

 

	
  LESSOR:

  	
  Attn.:

  	
  Francisco
  Javier Moreno Sanchez

  
	
   

  	
  Copropiedad
  Arte y Diseño.

  
	
   

  	
  San
  Luis Rio Colorado, Sonora México

  

 

8

 

	
  LESSEE:

  	
  Attn. Gerard Charlier.

  
	
   

  	
  GPI
  Mexicana, S.A. de C.Y.

  
	
   

  	
  Av.
  de la Transformaci6n y calle Samuel Ocaña

  
	
   

  	
  Parque
  Industrial, CP 83455

  
	
   

  	
  San
  Luis Rio Colorado, Sonora Mexico

  
	
   

  	
   

  
	
  With Copy to:

  	
  Chief Legal Officer

  
	
   

  	
  Gaming Partners
  International Corporation

  
	
   

  	
  1700 Industrial Road

  
	
   

  	
  Las Vegas Nevada, 89102
  United States of America

  

 

 

IN WITNESS WHEREOF, Parties
and witness execute this Agreement in the city of Las Vegas, Nevada as of December 16,
2008.

 

 

	
  LESSOR

  	
   

  	
  LESSEE

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Copropiedad
  Arte y Diseno

  	
   

  	
  GPI
  Mexicana S.A. de C.V.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Represented by: Francisco
  Javier Moreno Sanchez

  	
   

  	
  Represented by Gerard P.
  Charlier

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  WITNESS

  	
   

  	
  WITNESS

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  

 

9

 

ANEXO “A”

 

 

AV. DE LA TRANSFORMACION

 

ESTE ANEXO FORMA PARTE INTEGRAL
DEL CONTRATO DE ARRENDAMIENTO CELEBRADO ENTRE COPROPIEDAD “ARTE Y DISEÑO” Y
PAUL SON MEXICANA, S.A. DE C.V., FECHADO EN 

 

La Propiedad Arrendada tiene as
siguientes caracteristicas: 

	
  Tamano total del lote:

  	
   

  	
  44,620 pies
  cuadrados.

  
	
  Espacio total cubierto:

  	
   

  	
  33,900 pies cuadrados.

  

Este edificio se localiza en la
Manzana #2 en el Parque Industrial de la cuidad de San Luis Rio Colorado, Son.,
Mexico, con las siguientes denominaciones oficiales: 

 

	
  # de Lote

  	
   

  	
  Clave Catastral

  	
   

  	
  Direccion

  	
   

  
	
  9

  	
   

  	
  6700-10004017

  	
   

  	
  Av. de la Transformacion
  y

  [ILLEGIBLE]

  	
   

  

 

10

 

ANEXO B

 

ESTE
ANEXO CONSTITUYE UNA PARTE INTEGRAL DEL CONTRATO DE ARRENDAMIENTO CELEBRADO
ENTRE COPROPIEDAD ARTE Y DISEÑO Y PAUL SON MEXICANA S.A. DE C.V. FECHADO
ABRIL 1 DE 2003 

 

	
  LOTE

  	
   

  	
   

  
	
  Area:

  	
   

  	
  44,620
  pies cuadrados compactados al 95%

  
	
   

  	
   

  	
   

  
	
  Almacenaje/area
  de maniobras:

  	
   

  	
  22,533
  pies cuadrados.

  
	
  Estacionamiento:

  	
   

  	
  20
  carros de capacidad, pavimento de concreto.

  
	
   

  	
   

  	
   

  
	
  Alumbrado
  del estacionamiento:

  	
   

  	
  6
  (seis) lamparas de sodio de alta presion en las fachhadas sur y este.

  
	
  Puertas
  principales de acceso:

  	
   

  	
  4
  (cuatro): 2(dos) de 6'X8' ; 1 (una) de 8' x 10' y 1 (una) de 6' X 7'.

  Incluido.
  Vegetacion de bajo mantenimiento adaptado para clima de San Luis Rio

  
	
  Paisajismo:

  	
   

  	
  Colorado.

  
	
   

  	
   

  	
   

  
	
  EDIFICIO

  	
   

  	
   

  
	
  Area
  cubierta:

  	
   

  	
  33,900
  pies cuadrados.

  
	
   

  	
   

  	
  Firme
  concreto de 6" de espesor reforzado con malla metalica electrosoldada y

  
	
  Pisos:

  	
   

  	
  concreto
  f' c= 200 Kg./cm2.

  
	
  Dimensiones:

  	
   

  	
  Vease
  Anexo A.

  
	
  Maxima
  altura libre:

  	
   

  	
  23
  pies.

  
	
  Minima
  altura libre:

  	
   

  	
  21
  pies.

  
	
   

  	
   

  	
  Lamina
  corrugada de acero galvanizado tipo sandwich,con 3"de poliestireno como

  
	
  Techumbre:

  	
   

  	
  aislante

  
	
   

  	
   

  	
   

  
	
  Construccion
  de muros:

  	
   

  	
  Se
  utilizara block pesado de 8" relleno de concreto y reforzado con varilla
  de acero.

  
	
  Altura
  libre de columnas:

  	
   

  	
  75
  pies.

  
	
  Distancia
  entre columnas:

  	
   

  	
  50
  pies.

  
	
  Tipo
  de armadura:

  	
   

  	
  Armaduras
  rigidas de acero.

  
	
  Red
  de distribucion de agua:

  	
   

  	
  Con
  tubo de PVC de 1 1/2" dentro del perimetro del edificio.

  
	
  Numero
  de puertas metalicas

  	
   

  	
   

  
	
  para
  acceso de camiones:

  	
   

  	
  1
  (una) de 15' X 15'.

  
	
  Iluminacion
  exterior:

  	
   

  	
  6
  (seis) lamparas de mercurio.

  
	
  Area
  de prueba del

  	
   

  	
   

  
	
  alcantarillado:

  	
   

  	
  incluido.

  
	
   

  	
   

  	
   

  
	
  OFICINAS

  	
   

  	
   

  
	
  Area:

  	
   

  	
  2,500
  pies cuadrados.

  
	
  Dimensiones:

  	
   

  	
  50'
  X 50'.

  
	
  Iluminacion
  exterior:

  	
   

  	
  10
  (diez) arbotantes.

  
	
   

  	
   

  	
  Se
  construiran con block de concreto de 8" de espesor rellenos con concreto
  y

  
	
  Construccion
  de muros:

  	
   

  	
  reforzados
  con varilla de acero.

  
	
   

  	
   

  	
   

  
	
  Techumbre:

  	
   

  	
  Losas
  de concreto armado aisladas con una capa de poliestireno de 12"de
  espesor.

  
	
  Ventanas:

  	
   

  	
  Incluidas.

  
	
   

  	
   

  	
   

  
	
  Puertas
  de acceso a las oficinas:

  	
   

  	
  2
  (dos) puertas.

  
	
   

  	
   

  	
   

  
	
  SERVICIOS
  / EQUIPAMIENTO ADICIONAL.

  
	
  Rampa
  de carga y descarga:

  	
   

  	
  Concreto
  armado con rampa niveladora metalica con sistema hidraulico.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Construido
  con paredes de concreto y acero aisladas con una capa de poliestireno de 4"de
  espesor. Tambien incluira un tragaluz piramidal con doble vidrio de las
  siguientes dimensiones: 12'X12' X 12' y una escalera de caracol de 6'de
  diametro.

  
	
  Edificio
  piramidal:

  	
   

  

 

11

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