Document:

EXHIBIT
      10.46

    

    XL
      GENERATION INTERNATIONAL INC. 

    

    SECURITIES
      PURCHASE AGREEMENT

    

    

    This
      SECURITIES PURCHASE AGREEMENT (this “Agreement”), dated as of June 7, 2006, by
      and among XL Generation International Inc. (the "Company") and the individuals
      and entities listed on Exhibit A hereto as Purchasers (the "Purchasers"). In
      consideration of the mutual promises and covenants contained in this Agreement,
      the parties hereto agree as follows:

    

    1.    Sale
      of
      Shares.

    

    1.1    Sale
      of
      Shares. Subject to the terms and conditions of this Agreement, at the Closing
      (as defined in Section 2.1) the Company will sell to each of the Purchasers,
      and
      each of the Purchasers will purchase, the number of Company shares of common
      stock (the "Common Stock"), set forth opposite such Purchaser's name on Exhibit
      A, for the purchase price per share indicated on such Exhibit A (the "Purchase
      Price"). The shares of Common Stock sold under this Agreement are referred
      to as
      the "Shares." 

    

    2.    Closing.

    

    2.1    The
      Closing. The closing (the "Closing") of the sale and purchase of the Shares
      under this Agreement shall take place at the offices of the Company or via
      electronic exchange of documents and faxed signatures which shall be deemed
      to
      be effective as of the date of this Agreement (the "Closing Date"). At the
      Closing:

    

    (i)    The
      Company shall order and cause to be delivered to each of the Purchasers a
      certificate for the number of Shares set forth opposite such Purchaser's name
      on
      Exhibit A, registered in the name of such Purchaser; and

    

    (ii)    Each
      Purchaser shall pay by wire transfer of immediately available funds or other
      method acceptable to the Company, the aggregate Purchase Price for the number
      of
      Shares such purchaser is purchasing hereunder as directed by the
      Company.

    

    3.    Representations
      and Warranties of the Company. The Company hereby represents and warrants to
      each Purchaser that the statements contained in this Section 3 are complete
      and
      accurate as of the date of this Agreement and at Closing.

    

    3.1    Organization
      and Standing. The Company is a corporation duly organized, validly existing
      and
      in good standing under the laws of Nevada and has full corporate power and
      authority to conduct its business as presently conducted and as proposed to
      be
      conducted by it and to enter into and perform this Agreement and to carry out
      the transactions contemplated by this Agreement. The Company has at all times
      complied with all provisions of its Certificate of Incorporation and By-laws
      and
      is not in default under, or in violation of, any such
      provision.

    
      
         

      

      
         

        
          

        

      

      
         

        XL
          Generation International Inc. - Securities Purchase
          Agreement

      

    

    

    3.2    Authority
      for Agreement; No Conflict. The execution, delivery and performance by the
      Company of this Agreement, and the consummation by the Company of the
      transactions contemplated hereby, have been duly authorized by all necessary
      corporate action. This Agreement has been duly executed and delivered by the
      Company and constitutes valid and binding obligations of the Company enforceable
      in accordance with its terms, subject as to enforcement of remedies to
      applicable bankruptcy, insolvency, reorganization, moratorium or similar laws
      affecting generally the enforcement of creditors' rights and subject to a
      court's discretionary authority with respect to the granting of a decree
      ordering specific performance or other equitable remedies. The execution and
      delivery of this Agreement, the consummation of the transactions contemplated
      hereby and the compliance with its provisions by the Company will not (a)
      conflict with or violate any provision of the Certificate of Incorporation
      or
      By-laws of the Company, (b) require any filing with, or any permit, order,
      authorization, consent or approval of, any United States court, arbitrational
      tribunal, administrative agency or commission or other United States
      governmental or regulatory authority or agency (each of the foregoing is
      hereafter referred to as a "Governmental Entity").

    

    3.3    Governmental
      Consents. Based in part on the representations and warranties of the Purchasers
      set forth in Section 4 of this Agreement, no consent, approval, order or
      authorization of, or registration, qualification, designation, declaration
      or
      filing with, any Governmental Entity is required on the part of the Company
      in
      connection with the offer, issuance, sale and delivery of the Shares or the
      other transactions contemplated by this Agreement (other than filings required
      under the Exchange Act). In reliance on the representations and warranties
      made
      by each of the Purchasers in Section 4 of this Agreement, the offer and sale
      of
      the Shares to each of the Purchasers will be in compliance with applicable
      United States federal and state securities laws.

    

    4.    Representations
      and Warranties of the Purchasers. Each Purchaser hereby represents and warrants
      to the Company that the statements contained in this Section 4 are complete
      and
      accurate as of the date of this Agreement and at Closing.

    

    4.1    Authorization;
      Enforceability.

    

    Such
      Purchaser has the full power and authority to enter into this Agreement and
      to
      perform his, her or its obligations thereunder. If such Purchaser is an entity,
      such Purchaser has taken all corporate, partnership, limited liability, trust
      or
      similar action necessary to authorize its execution and delivery of this
      Agreement. This Agreement have been duly executed and delivered by such
      Purchaser and, assuming the due authorization, execution, and delivery by the
      Company and the other Purchasers, constitutes his, her or its valid and binding
      obligation, enforceable in accordance with the terms of this Agreement, subject
      to applicable bankruptcy, reorganization, insolvency, and similar laws affecting
      creditors' rights generally and to general principles of equity.

    

    4.2    No
      Conflict.

    
      
         

      

      
        -2-

        
          

        

      

      
         

        XL
          Generation International Inc. - Securities Purchase
          Agreement

      

    

    The
      execution and delivery of this Agreement by such Purchaser and the performance
      of his, her or its obligations thereunder will not (i) if such Purchaser is
      an
      entity, violate or conflict with any provision of its organizational documents,
      (ii) violate, conflict with, or give rise to any right of termination,
      cancellation, or acceleration under any material agreement or instrument to
      which such Purchaser is a party, or by which he, it, or any of his, her or
      its
      assets is bound, (iii) result in the imposition of any lien on any Shares held
      by such Purchaser, (iv) violate or conflict with any applicable laws, or (v)
      require any consent, approval or other action of, notice to, or filing with
      any
      entity or person (governmental or private) other than the filing of a Form
      3 or
      a Schedule 13D if necessary in accordance with the Rules and Regulations
      promulgated under the Exchange Act.

    

    4.3    Investment
      Representations and Warranties. Each Purchaser hereby represents and warrants
      to
      the Company the following:

    

    (a)    Such
      Purchaser will acquire the Shares to be purchased by him, her or it for his,
      her
      or its own account, for investment and not with a view to the distribution
      thereof, nor with any present intention of distributing the same.

    

    (b)    Such
      Purchaser understands that the Shares to be purchased by him, her or it: (i)
      will not be registered under the Securities Act or the securities laws of any
      state, by reason of their issuance in a transaction exempt from the registration
      or qualification requirements of the Securities Act (defined below) or such
      securities laws, the availability of which depends upon, among other things,
      the
      bona fide nature of the investment intent and the accuracy of such Purchaser's
      representations as expressed herein, and (ii) must be held indefinitely unless
      a
      subsequent disposition thereof is registered under the Securities Act or is
      exempt from registration.

    

    (c)    The
      Purchaser is an "accredited investor," as defined in Rule 501 (the provisions
      of
      which are known to such Purchaser) promulgated under the United States
      Securities Act of 1933, as amended (the "Securities Act").

    

    (d)    The
      Purchaser understands the Company has made no assurance that a public market
      for
      the Shares or any other class or series of Company capital stock will exist
      in
      the future.

    

    (e)    Based
      on
      such Purchaser's knowledge, experience and skill in evaluating and investing
      in
      securities derived from actual participation in financial, investment and
      business matters, such Purchaser is capable of evaluating the merits and risks
      of an investment in the Shares and the suitability of the Shares as an
      investment for such Purchaser.

    

    (f)    The
      Purchaser has had an opportunity to discuss the business, management and
      financial affairs of the Company and the terms and conditions of an investment
      in the Shares with, and has had access to, the management of the Company.

    
      
         

      

      
        -3-

        
          

        

      

      
         

        XL
          Generation International Inc. - Securities Purchase
          Agreement

      

    

    (g)    The
      Purchaser is aware that no guarantees have been or can be made respecting the
      future value, if any, of the Shares or the profitability or success of the
      business of the Company.

    

    4.4    Brokers
      and Finders. No person or entity acting on behalf or under the authority of
      such
      Purchaser is or will be entitled to any broker's, finder's, or similar fee
      or
      commission in connection with the transactions contemplated hereby.

    

    4.5    Regulation
      S Representations. 

    

    (a)    The
      Purchaser acknowledges and agrees that the Company shall, and shall instruct
      its
      transfer agent to, refuse to register any transfer of the Common Stock issued
      hereunder not made in accordance with the provisions of Regulation S, pursuant
      to registration under Securities Act or pursuant to an available exemption
      from
      registration.

    

    (b)    The
      Purchaser understands and acknowledges that the Shares have not been registered
      under the Securities Act and are being offered in reliance upon the exemptions
      provided in Regulation S of the Securities Act and the Rules and Regulations
      adopted thereunder. Accordingly, the Shares may not be offered or sold in the
      U.S. or to U.S. persons (as such term is used in Regulation S) unless the
      securities are registered under the Securities Act, or an exemption for the
      regulation requirements is available. Furthermore, hedging transactions
      involving the Shares may not be conducted unless in compliance with the
      Securities Act. The Purchaser makes the following representations and warranties
      to the Company with the intent that the same may be relied upon in determining
      the suitability of the Purchaser as a purchaser of securities:

    

    (c)    The
      Purchaser did not receive the offer for the Company for the Shares (the
“Offer”), nor was he, she or it solicited to purchase the Shares, in the United
      States; that this Agreement has not been executed or delivered by the Purchaser
      in the United States, and neither the Purchaser nor any person acting on behalf
      of the Purchaser has engaged, directly or indirectly, in any negotiations with
      respect to the Offer or this Agreement in the United States;

    

    (d)    The
      Purchaser is not a U.S. person (i.e., (i) not an individual resident in the
      U.S.; (ii) a partnership or corporation organized or incorporated in the United
      States; (iii) an estate of which any executor or administrator is a U.S. person;
      (iv) a trust of which any trustee is a U.S. person; (v) a dealer holding an
      account for a customer; (vi) an agency or branch of a foreign entity located
      in
      the U.S.; or (vii) a partnership or corporation (A) organized or incorporated
      under the laws of any foreign jurisdiction and (B) formed by a U.S. person
      principally for the purpose of investing in securities not registered under
      the
      Securities Act and is not acquiring the Shares for the account or benefit of
      a
      U.S. person;

    

    (e)    The
      Purchaser is not purchasing the Shares as a result of or subsequent to (i)
      any
      advertisement, article, notice or other communication published in any
      newspaper, magazine or other publication or broadcast over television or radio
      in the U.S.; (ii) any promotional seminar or meeting in the U.S., or (iii)
      any
      solicitation by a person not previously known to him or it in connection with
      investments in securities generally; and

    
      
         

      

      
        -4-

        
          

        

      

      
         

        XL
          Generation International Inc. - Securities Purchase
          Agreement

      

    

    

    (f)    The
      Shares have not been registered under the Securities Act or under any state
      securities laws and that the Purchaser agrees to transfer his, her or its Shares
      in the U.S. or to, or for the account or benefit of, U.S. persons only if (i)
      the Shares are duly registered under the Securities Act and all applicable
      state
      securities laws; or (ii) there is an exemption from registration under the
      Securities Act, including any exemption from the registration requirements
      of
      the Securities Act which may be available pursuant to Rule 903 or Rule 904
      under
      Regulation S, and all applicable state securities laws; that prior to any such
      transfer the Company may require, as a condition affecting a transfer of the
      Shares, an opinion of counsel in form and substance satisfactory to the Company
      as to the registration or exemption therefrom under the Securities Act and
      applicable state securities laws; that the Company is under no obligation to
      register the Shares under the Securities Act or any applicable state securities
      laws on its or his or her behalf or to assist it or him or her in complying
      with
      any exemption from such registration;

    

    (g)    Except
      as
      distributed by Purchaser in accordance with the requirements and provisions
      of
      Rule 903 of Regulation S (i.e., the Shares may be allocated and distributed
      to
      Purchaser’s managed accounts so long as such distribution is made by Purchaser
      in the manner specified by Rule 903), the Shares will be acquired solely for
      the
      account of the Purchaser, for investment purposes only, and not with a view
      to,
      or for sale in connection with, any distribution thereof and with no present
      intention of distributing or reselling any part of the Shares.

    

    (h)    The
      Purchaser agrees not to sell, pledge, transfer, dispose of, or otherwise deal
      with or engage in hedging transactions involving, his or her Shares or any
      portion thereof except as otherwise permitted herein, unless and until counsel
      for the Company shall have determined that the intended disposition or action
      is
      permissible and does not violate the Securities Act or any applicable state
      securities laws, or the rules and regulations thereunder.

    

    (i)    The
      Purchasers jurisdiction of residence as set forth on the signature page hereto
      is true and correct.

    

    (j)    The
      Purchaser hereby states that he/she is acquainted with the requirements of
      Section 13(d) of the Securities Exchange Act of 1934 and the rules and
      regulations issued thereunder. The Purchaser understands that, as a result
      of
      its acquisition of Shares, and in order to comply with Section 13(d) and the
      rules and regulations issued thereunder, Purchaser may be required to file
      a
      Schedule 13D and hereby agrees to make such filing if so required.

    

    5.    Transfer
      of Shares.

    

    5.1    Restricted
      Shares. "Restricted Shares" means (a) the Shares and (b) any other shares of
      capital stock of the Company issued in respect of such shares (as a result
      of
      stock splits, stock dividends, reclassifications, recapitalizations or similar
      events); provided, however, that shares of Common Stock which are Restricted
      Shares shall cease to be Restricted Shares (x) upon any sale pursuant to a
      registration statement under the Securities Act, Section 4(1) of the Securities
      Act or Rule 144 under the Securities Act or (y) at such time as they become
      eligible for sale under Rule 144(k) under the Securities Act.

    
      
         

      

      
        -5-

        
          

        

      

      
         

        XL
          Generation International Inc. - Securities Purchase
          Agreement

      

    

    5.2    Transfers.
      Restricted Shares shall not be sold or transferred unless either (i) they first
      shall have been registered under the Securities Act, or (ii) such sale or
      transfer is exempt from the registration requirements of the Securities
      Act.

    

    5.3    Legend.
      Each certificate representing Restricted Shares shall bear a legend
      substantially in the following form:

    

    THE
      SECURITY OR SECURITIES EVIDENCED HEREBY HAVE NOT BEEN REGISTERED UNDER THE
      UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR
      ANY
      STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD TO ANY PERSON EXCEPT
      AS
      SET FORTH IN THE FOLLOWING SENTENCE. THE HOLDER HEREOF AGREES THAT: (1) IT
      WILL
      NOT RESELL OR OTHERWISE TRANSFER THE SHARES EVIDENCED HEREBY EXCEPT (A) IN
      AN
      OFFSHORE TRANSACTION COMPLYING WITH RULE 903 OR RULE 904 OF REGULATION S OR
      (B)
      PURSUANT TO THE EXEMPTION FROM REGISTRATION PROVIDED BY RULE 144 UNDER THE
      SECURITIES ACT (IF AVAILABLE) OR ANOTHER THEN AVAILABLE EXEMPTION UNDER THE
      SECURITIES ACT AND STATE SECURITIES LAWS OR, (C) IN A TRANSACTION THAT DOES
      NOT
      REQUIRE REGISTRATION UNDER THE SECURITIES ACT OR ANY APPLICABLE STATE LAWS,
      OR
      (D) PURSUANT TO A REGISTRATION STATEMENT WHICH HAS BEEN DECLARED EFFECTIVE
      UNDER
      THE SECURITIES ACT (AND WHICH CONTINUES TO BE EFFECTIVE AT THE TIME OF SUCH
      TRANSFER); (2) PRIOR TO ANY SUCH TRANSFER, IT WILL FURNISH TO XL GENERATION
      INTERNATIONAL INC. AND THE TRANSFER AGENT FOR THE COMMON STOCK SUCH
      CERTIFICATIONS, LEGAL OPINIONS, OR OTHER INFORMATION AS XL GENERATION
      INTERNATIONAL INC. OR SUCH TRANSFER AGENT MAY REASONABLY REQUIRE TO CONFIRM
      THAT
      SUCH TRANSFER IS BEING MADE PURSUANT TO AN EXEMPTION FROM, OR IN A TRANSACTION
      NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT OR STATE
      SECURITIES LAWS; AND (3) IT WILL DELIVER TO EACH PERSON TO WHOM THE COMMON
      STOCK
      EVIDENCED HEREBY IS TRANSFERRED A NOTICE SUBSTANTIALLY TO THE EFFECT OF THIS
      LEGEND. FURTHERMORE, HEDGING TRANSACTIONS INVOLVING THE SECURITIES EVIDENCED
      HEREBY MAY NOT BE CONDUCTED UNLESS IN COMPLIANCE WITH THE ACT.

    

    The
      foregoing legend shall be removed from the certificates representing any
      Restricted Shares, at the request of the holder thereof, at such time as they
      become eligible for resale pursuant to Rule 144(k) under the Securities
      Act.

    

    6.    Miscellaneous.

    

    6.1    Exchange
      Act Filings. As soon as practicable after the Closing, the Company will make
      all
      finings with the U.S. Securities and Exchange Commission as required under
      the
      Exchange Act in connection with the transactions contemplated by this Agreement
      and the Purchasers

    
      
         

      

      
        -6-

        
          

        

      

      
         

        XL
          Generation International Inc. - Securities Purchase
          Agreement

      

    

    hereby
      consent to all disclosures required thereunder in respect of such filings as
      determined by the Company in its sole discretion. 

    

    6.2    Successors
      and Assigns. This Agreement, and the rights and obligations of each Purchaser
      hereunder, may be assigned by such Purchaser to (a) any person or entity to
      which Shares are transferred by such Purchaser, or (b) to any to any affiliate,
      partner, member, stockholder or subsidiary of such Purchaser, and, in each
      case,
      such transferee shall be deemed a "Purchaser" for purposes of this Agreement;
      provided that each such assignment of rights shall be contingent upon the
      transferee providing a written instrument to the Company notifying the Company
      of such transfer and assignment and agreeing in writing to be bound by the
      terms
      of this Agreement. The Company may not assign its rights under this
      Agreement.

    

    6.3    Severability;
      Survival. The invalidity or unenforceability of any provision of this Agreement
      shall not affect the validity or enforceability of any other provision of this
      Agreement. The representations and warranties of the Company and the Purchasers
      shall survive the execution and delivery hereof and the Closing.

    

    6.4    Specific
      Performance. In addition to any and all other remedies that may be available
      at
      law in the event of any breach of this Agreement, each Purchaser shall be
      entitled to specific performance of the agreements and obligations of the
      Company hereunder and to such other injunctive or other equitable relief as
      may
      be granted by a court of competent jurisdiction.

    

    6.5    Governing
      Law. This Agreement shall be governed by and construed in accordance with the
      laws of the State of New York (without regard to conflicts of laws
      provisions).

    

    6.6    Notices.
      All notices, requests, consents and other communications under this Agreement
      shall be in writing and shall be deemed delivered (a) three business days after
      being sent by registered or certified mail, return receipt requested, postage
      prepaid or (b) one business day after being sent via a reputable nationwide
      overnight courier service guaranteeing next business day delivery, in each
      case
      to the intended recipient as set forth below:

    

    If
      to the
      Company, at the address of record as on file with the U.S. Securities and
      Exchange Commission or at such other address as may have been furnished in
      writing by the Company to the other parties hereto; or

    

    If
      to a
      Purchaser, at the address set forth below or at such other address as may have
      been furnished in writing by such Purchaser to the other parties
      hereto.

    

    Any
      party
      may give any notice, request, consent or other communication under this
      Agreement using any other means (including, without limitation, personal
      delivery, messenger service, telecopy, first class mail or electronic mail),
      but
      no such notice, request, consent or other communication shall be deemed to
      have
      been duly given unless and until it is actually received by the party for whom
      it is intended. Any party may change the address to which notices, requests,
      consents or other communications hereunder are to be delivered by giving the
      other parties notice in the manner set forth in this Section.

    
      
         

      

      
        -7-

        
          

        

      

      
         

        XL
          Generation International Inc. - Securities Purchase
          Agreement

      

    

    6.7    Complete
      Agreement. This Agreement (including its Exhibits) constitutes the entire
      agreement and understanding of the parties hereto with respect to the subject
      matter hereof and supersedes all prior agreements and understandings relating
      to
      such subject matter.

    

    6.8    Third
      Party Beneficiaries. This Agreement is intended for the benefit of the parties
      hereto and their respective permitted successors and assigns and is not for
      the
      benefit of, nor may any provision hereof be enforced by, any other
      person.

    

    6.9    Amendments
      and Waivers. This Agreement may be amended or terminated and the observance
      of
      any term of this Agreement may be waived with respect to all parties to this
      Agreement (either generally or in a particular instance and either retroactively
      or prospectively), with the written consent of the Company and the holders
      of a
      majority of the Shares then held by all Purchasers. The Company shall give
      prompt written notice of any amendment or termination hereof or waiver hereunder
      to any party hereto that did not consent in writing to such amendment,
      termination or waiver. Any amendment, termination or waiver effected in
      accordance with this Section 6.9 shall be binding on all parties hereto, even if
      they do not execute such consent; provided, that any amendment, termination
      or
      waiver of any provision of this Agreement that does not affect all Purchasers
      in
      the same way shall require the prior written consent of all Purchasers who
      would
      be subject to such disparate treatment. No waivers of or exceptions to any
      term,
      condition or provision of this Agreement, in any one or more instances, shall
      be
      deemed to be, or construed as, a further or continuing waiver of any such term,
      condition or provision.

    

    6.10    Fees
      and
      Expenses. Each party shall pay the fees and expenses of its advisors, counsel,
      accountants and other experts, if any, and all other expenses, incurred by
      such
      party incident to the negotiation, preparation, execution, delivery and
      performance of this Agreement. 

    

    6.11    Validity
      of Representations. The Company offer and sale of the Shares has been
      conditioned on exemptions from registration based upon the validity of the
      representations, warranties and covenants of each Purchaser. Each Purchaser
      severally but not jointly agrees to indemnify and hold harmless the Company
      and
      its directors, officers, affiliates, agents, successors and assigns from and
      against any and all losses, liabilities, deficiencies, costs, damages and
      expenses (including, without limitation, reasonable attorneys’ fees, charges and
      disbursements) incurred by the Company as result of any inaccuracy in or breach
      of the representations, warranties or covenants made by such Purchaser herein.
      The agreement hereby with each Purchaser is deemed to be a separate agreement,
      and the sale of Shares to each such Purchaser is a separate sale.

    

    6.12    Section
      Headings and References; Construction. The section headings are for the
      convenience of the parties and in no way alter, modify, amend, limit or restrict
      the contractual obligations of the parties. Any reference in this agreement
      to a
      particular section or subsection shall refer to a section or subsection of
      this
      Agreement, unless specified otherwise. Whenever the context may require, any
      pronouns used in this Agreement shall include the corresponding masculine,
      feminine or neuter forms, and the singular form of nouns and pronouns shall
      include the plural, and vice versa.

    
      
         

      

      
        -8-

        
          

        

      

      
         

        XL
          Generation International Inc. - Securities Purchase
          Agreement

      

    

    6.13    Counterparts;
      Facsimile Signatures. This Agreement may be executed in any number of
      counterparts, each of which shall be deemed to be an original, and all of which
      shall constitute one and the same document. This Agreement may be executed
      by
      facsimile signatures.

    
      
         

      

      
        -9-

        
          

        

      

      
         

        XL
          Generation International Inc. - Securities Purchase
          Agreement

      

    

    

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

     

    XL
      GENERATION INTERNATIONAL INC. 

    

    By:         
      /s/
      Alain
      Lemieux

      
        

      

    

    Name:
      Alain Lemieux

    Title:
      C.E.O

    

    

    PURCHASER:
      ATON SELECT FUND LTD.

    

    By:        
      /s/
      Dr.
      Werner Keicher

      
        

      

    

    Name:
      Dr.
      Werner Keicher

    Title:
      Director

     

    
      
         

      

      
        -10-

        
          

        

      

      
         

      

    

     

    EXHIBIT
      A 

    LIST
      OF PURCHASERS

     

    
      	
              Name
                of Purchasers Aton Select Fund Ltd. 

            	
              Investment
                Amount, Number of Shares

            
	
              Address:

            	 
	
              Aeulestrasse
                5

            	
              Price
                Per Share   US$2.00

            
	
              FL-9490
                Vaduz

            	
              Investment
                Amount:  US$500,000.00

            
	
              Liechtenstein

            	
              Shares
                Purchased 250
                000

            
	 	 
	
              Jurisdiction
                of Residence/Corporate Domicile: B.V.I.

            	 

    

     

    
      
         

      

        -11-EXHIBIT 10.1

                              EMPLOYMENT AGREEMENT

      AGREEMENT dated as of the 1st day of January 2006, between SCORES HOLDING
COMPANY, INC., a Utah corporation with its principal place of business at
533-535 West 27th Street, New York, New York 10001 ("SCOH") and RICHARD GOLDRING
an individual whose address is 5 Fox Chase Drive, Watchung, NJ 07067 (the
"Employee").

                                   WITNESSETH

      WHEREAS, SCOH intends to engage in the business of licensing the right to
use the Scores name or other intellectual property owned by SCOH to adult
entertainment nightclubs owned by third parties and affiliates; and

      WHEREAS, Employee presently serves as President, Chairman, Chief Executive
Officer and Financial advisor, for SCOH and SCOH seeks to further engage
Employee on the terms and conditions set forth below; and

      NOW, THEREFORE, in consideration of the mutual covenants and promises
herein contained, and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto agree as
follows:

      1. EMPLOYMENT. SCOH hereby employs Employee and Employee accepts
employment upon the terms and conditions of this Agreement. In addition to his
other duties, Employee shall be primarily responsible for SCOH's licensing
program. Employee shall not be precluded hereunder from continuing his
employment as Operations Manager for Scores Showroom, an adult entertainment
nightclub located at 333 East 60th Street, New York, New York and Go West
Entertainment, Inc. located at 536 West 28th Street, New York, NY and SMG
located at 17450 Biscayne Boulevard North Miami Beach, FL 33160 so long as such
employment shall not interfere with Employee's ability to properly perform the
duties assumed pursuant to this Agreement.

      2. TERM. SCOH hereby employs Employee and Employee hereby accepts
employment for a term commencing on the date hereof (the "Commencement Date"),
and expiring on the tenth (10) anniversary of this Agreement, unless sooner
terminated as hereinafter provided (the "Employment Period"). Except as
otherwise provided herein, Employee may unilaterally terminate this Agreement at
any time, upon providing SCOH with sixty (60) days prior written notice.

      3. EMPLOYMENT AND DUTIES.

            3.1 Title. Employee is employed in the capacity of President, Chief
Executive Officer and Financial advisor for SCOH.

            3.2 Duties and Responsibilities. The services to be rendered by
Employee pursuant to this Agreement shall consist of such services as defined
and directed by SCOH's board of directors. Employee agrees to perform such
services with great diligence and care.

            3.3 Observance of Rules and Regulations. Employee agrees to observe
and comply with the rules and regulations of SCOH with respect to the
performance of his duties.

<PAGE>

      4. Compensation; Benefits and Expenses

            4.1 Base Salary. As compensation for the services to be rendered
hereunder, SCOH shall pay to Employee a base annual salary (the "Base Salary")
of $160,000 payable in equal monthly installments.

            4.2 Other Benefits. Employee shall also be eligible to participate
in any benefit programs of SCOH, including but not limited to pension, insurance
or other supplemental or special compensation plans or arrangements. Employee
shall also be eligible to receive a performance based bonus as approved and
authorized by SCOH's board of directors.

            4.3 Travel, Automobile and Living Allowances. During the term of
this Agreement, Employee shall be entitled to annual travel, automobile and
living allowances. In connection herewith, SCOH agrees to advance and/or
re-imburse Employee for all reasonable travel, automobile, living and other
expenses incurred by Employee in rendering the services hereunder on behalf of
SCOH provided Employee has all expenses in excess of $1,000 pre-approved by
SCOH. Employee will be reimbursed upon presentation of vouchers or other
documents reasonably necessary to verify the expenditures and sufficient, in
form and substance, to satisfy Internal Revenue Service requirements for such
expenses. The maximum amount of Employee's annual automobile and living
allowances under this Agreement shall be determined by SCOH's board of
directors.

      5. DISABILITY OR DEATH OF EMPLOYEE.

            5.1 SCOH shall obtain both death and disability insurance on
Employee listing SCOH as the beneficiary in the combined minimum amount of
$5,000,000. In the event Employee dies or becomes disabled during the Employment
Period, entitling SCOH to receive payment under the insurance policy, SCOH's
obligation to pay Employee further Base Salary and benefits shall cease.
Notwithstanding the forgoing, Employee or his estate shall be entitled to all
accrued but unpaid Base Salary and other benefits due to Employee through the
date of death or disability.

            5.2 (i) SCOH shall apply the insurance proceeds to the purchase of
Employee's stock in SCOH which will be valued and purchased by SCOH at a 20%
discount from the market price of the stock as at the date of death or
disability.

                  (ii) Except as otherwise provided in Section 5.2(iv) below, in
            the event Employee owns SCOH stock with a value of less than
            $5,000,000 as at the date of death or disability, SCOH shall be
            entitled to retain the balance of insurance proceedings remaining
            after the purchase of Employee's SCOH stock.

                  (iii) In the event Employee owns stock with a value of more
            than $5,000,000 as at the date of death or disability, SCOH shall
            have the right, but not the obligation, to purchase more than
            $5,000,000 of such stock at the discounted price. In connection
            therewith, SCOH shall give notice to Employee or his estate, as the
            case may be, not more than 15 days after the date of death or
            disability to advise of its intention as to Employee's additional
            SCOH shares. Such notice will include the number of additional SCOH
            shares which are being purchased.

<PAGE>

                  (iv)Notwithstanding Section 5.2(ii) above, in the event
            Employee owns no SCOH stock or owns SCOH stock with a discounted
            value of less than $1,000,000 as at the date of death or disability,
            Employee or his estate, as the case maybe, shall be entitled to
            retain all of their SCOH shares and receive $1,000,000 of the
            insurance proceeds.

      6. TERMINATION.

            6.1 Termination By SCOH For Cause. Notwithstanding anything to the
contrary in this Agreement, SCOH shall have the right, subject to this Section
6, to terminate this Agreement "for cause", by giving Employee seven (7) days
prior written notice to that effect, and Employee's right to further
compensation and benefits hereunder, shall then immediately cease. Any
termination SCOH under this paragraph "for cause" shall be without prejudice to
Employee's right to receive all compensation and benefits owed to him through
the effective date of termination. As used herein and throughout this Agreement,
the term "for cause" shall mean (i) commission of a willful act of dishonesty in
the course of Employee's duties hereunder, (ii) a material breach of this
Agreement that is not cured within 30 days of receipt of notice thereof, or
(iii) Employee's conviction of a criminal offense or crime constituting a felony
or conviction in respect to any act involving fraud, dishonesty or moral
turpitude resulting in detriment to SCOH or reflecting upon SCOH's integrity
(other than traffic infractions or similar minor offenses).

            6.2 Termination By Employee Other Than For Good Reason. In the event
Employee terminates this Agreement without Good Reason (as defined in Section
6.3 hereof), Employee's rights to further compensation and benefits, hereunder
shall then immediately cease. Employee must give SCOH a minimum of 60 days prior
written notice to effect such a termination. Notwithstanding the foregoing, in
the event Employee terminates this Agreement without Good Reason more than three
years and less than seven years after the Commencement Date, SCOH shall pay
Employee a $1,000,000 termination fee.

            6.3 Termination by Employee for Good Reason or Termination BY SCOH
without Cause.

                  (i) In the event Employee terminates this Agreement for "Good
            Reason" or SCOH terminates this Agreement without cause, Employee
            shall be entitled to receive all of the remaining Base Salary then
            due Employee under this Agreement plus any previously un-reimbursed
            travel, living or car expenses.

                  (ii) Employee shall have the right to terminate this Agreement
            and his employment hereunder for "Good Reason" if (A) Employee shall
            have given SCOH prior written notice of the reason therefore, (B)
            such notice shall have been given to SCOH within fifteen (15) days
            after Employee is notified or otherwise first learns of the event
            constituting "Good Reason," and (C) a period of fifteen (15) days
            following receipt by SCOH of such notice shall have lapsed and the
            matters which constitute or give rise to such "Good Reason" shall
            not have been cured or eliminated within such fifteen (15) day
            period, such period shall be extended up to forty-five (45) days,
            provided that SCOH shall take and diligently pursue during such
            period such action necessary to cure or eliminate such matters. In
            the event SCOH shall not take such action within such period,
            employee may send another notice to SCOH electing to terminate his
            employment hereunder and, in such event, Employee's employment
            hereunder shall terminate and the effective date of such termination
            shall be the 30 days after SCOH shall have received such notice.

<PAGE>

                  (iii) For the purpose of this Agreement, "Good Reason" shall
            mean the occurrence of any of the following without Employee's prior
            written consent:

                        (1) Requiring Employee to engage in an illegal act, or
                  an act which is inconsistent with prior practices of SCOH and
                  which could reasonably be deemed to be materially damaging or
                  detrimental to Employee;

                        (2) A default by SCOH in the payment of any material sum
                  or the provision of any material benefit due to Employee
                  pursuant to this Agreement;

                        (3) The failure of SCOH to obtain the assumption of this
                  Agreement by any successor to substantially all of the assets
                  or business of SCOH; or

                        (4) Any material breach by SCOH of any provision of this
                  Agreement which is not corrected by SCOH or, if the breach
                  cannot be corrected, as to which SCOH fails to pay to Employee
                  reasonable compensation for such breach, within 60 days
                  following receipt by SCOH of written notice from Employee
                  specifying the nature of such breach.

      7. CONFIDENTIALITY. Employee agrees that all confidential and proprietary
information relating to the business of SCOH shall be kept and treated as
confidential both during and after the term of this Agreement, except as may be
permitted in writing by SCOH's Board of Directors or as such information is
within the public domain or comes within the public domain without any breach of
this Agreement.

      8. ASSUMPTION OF INSURANCE POLICY. In the event this Agreement is
terminated by SCOH without cause or by Employee for Good Reason, Employee shall
have the right, if exercised by Employee in writing within 15 days of such
termination, to assume the death and disability insurance policy, and to make
Employee the beneficiary thereof.

      9. INDEMNIFICATION. SCOH and Employee shall indemnify the other party for
any losses, damages, liabilities, judgments, claims, costs, penalties and
expenses incurred by such other party (including without limitation costs and
reasonable attorneys' fees and costs), resulting from the indemnifying party's
failure to perform any of their obligations contained in this Agreement. SCOH
shall indemnify Employee against any liabilities incurred by him in connection
with any proceeding to which he is made a party as the result of his performing
his duties hereunder, unless such liability results from Employee's gross
negligence or misconduct in the performance of such duties.

<PAGE>

      10. VACATION. Employee shall be entitled to eight (8) weeks of paid
vacation time per contract year.

      11. GOVERNING LAW. This Agreement shall be governed by the internal laws
of the State of New York. Any action to enforce any term hereof shall be brought
exclusively within the state or federal courts of New York, New York to which
jurisdiction and venue all parties hereby submit themselves.

      12. BINDING EFFECT. Except as otherwise herein expressly provided, this
Agreement shall be binding upon, and shall inure to the benefit of the parties
hereto, their respective heirs, legal representatives, successors and assigns.

      13. NOTICES. All notices, designations, consents, offers, acceptances,
waivers or any other communication provided for herein, or required hereunder
shall be in writing and shall be mailed by certified mail, return receipt
requested, overnight courier, or delivered by hand.

The notices shall be addressed as follows:

            If to Employee: to the address set forth above

            If to SCOH: to the address set forth above

or to such other address as a party hereto may notify the other pursuant to this
Section.

      14. ADDITIONAL DOCUMENTS. Each of the parties hereto agrees to execute and
deliver, without cost or expense to any other party, any and all such further
instruments or documents and to take any and all such further action reasonably
requested by such other of the parties hereto as may be necessary or convenient
in order to effectuate this Agreement and the intents and purposes thereof

      15. COUNTERPARTS. This Agreement and any amendments hereto may be executed
in two (2) or more counterparts, each of which shall be deemed an original and
all of which shall constitute one and the same instrument, binding on the
parties and the signature of any party to any counterpart shall be deemed a
signature to, and may be appended to, any other counterpart.

      16. ENTIRE AGREEMENT. This Agreement contains the sole and entire
agreement and understanding of the parties and supersedes any and all prior
agreements, discussions, negotiations, commitments and understandings among the
parties hereto with respect to the subject matter hereof. There are no
representations, agreements, arrangements or understandings, oral or written,
between or among the parties concerning the subject matter hereto, which are not
fully expressed herein or in any supplemental written agreements of even or
subsequent date hereof

      17. SEVERABILITY. If any provision of this Agreement, or the application
thereof to any person or circumstances, shall, for any reason and to any extent,
be invalid or unenforceable, the remainder of this Agreement and the application
of such provision to other persons or circumstances shall not be affected
thereby, but rather shall be enforced to the greatest extent permitted by law.

      18. MODIFICATION. This Agreement cannot be changed, modified or discharged
orally, but only if consented to in writing by both parties.

      19. CONTRACT HEADINGS. All headings of the Sections of this Agreement have
been inserted for convenience of reference only, are not to be considered a part
of this Agreement, and shall in no way affect the interpretation of any of the
provisions of this Agreement.

      20. WAIVER. Failure to insist upon strict compliance with any of the
terms, covenants, or conditions hereof shall not be deemed a waiver of such
term, covenant, or condition, nor shall any waiver or relinquishment of any
right or power hereunder at any one time or more times be deemed a waiver or
relinquishment of such right or power at any other time or times.

      21. REPRESENTATION OF EMPLOYEE. Employee, with the full knowledge that
SCOH is relying thereon, represents and warrants that he has not made any
commitment inconsistent with the provisions hereof and that he is not under any
disability which would prevent him from entering into this Agreement and
performing all of his obligations hereunder.

<PAGE>

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

                                    SCORES HOLDING COMPANY, INC.

                                    By: /s/ Richard K. Goldring
                                        ----------------------------------------
                                    Name: Richard K. Goldring
                                    Title: President and Chief Executive Officer

                                    /s/ Richard K. Goldring
                                    --------------------------------------------
                                    Richard K. Goldring

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00110-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00110-of-00352.parquet"}]]