Document:

Exhibit
      4.29. Form of Waiver Agreement with GSSF and Grypon

    

    AMERICAN
      TECHNOLOGIES GROUP, INC.

     

    Mr.
      Warren W. Garden

    Authorized
      Agent for 

    GSSF
      Master Fund, LP 

    and
      Gryphon Master Fund, L.P.

    100
      Crescent Ct., Suite 490

    Dallas,
      TX 75201

    

    
      	
              RE:

            	
              American
                Technologies Group, Inc.

            
	 	
              Our
                File No.:24739.50336

            

    

    Dear
      Warren:

    

    Reference
      is hereby made to the Registration Rights Agreements (the “Registration Rights
      Agreements”) entered into as of September 7, 2005 and April 26, 2006 by and
      between American Technologies Group, Inc., a Nevada corporation (“ATG”), Gryphon
      Master Fund, L.P., (“GMF”), and GSSF Master Fund, LP (“GSSF”) which require ATG
      to file a registration statement with respect to the Registrable Securities
      (as
      defined in the Agreements). Reference is also hereby made to the convertible
      term notes in the total amount of $500,000 payable to GMF and GSSF dated as
      of
      September 7, 2005 (the “Notes”). Reference is further made to that certain
      security agreements also dated September 7, 2005 by and between ATG, GMF and
      GSSF (the “Security Agreements”). Based on conferences with GSSF and GMF, GMF
      and GSSF have agreed to the following amendments to the Registration Rights
      Agreement, the Notes and Security Agreement:

    

    1. The
      Filing Dates in each of the Registration Rights Agreements shall be, and hereby
      are, extended to January 31, 2007 with respect to all Registrable Securities
      as
      defined in the Registration Rights Agreements.

    

    2.
       The
      Effectiveness Dates in each of the Registration Rights Agreements shall be,
      and
      hereby are, extended to April 15, 2007 with respect to all Registrable
      Securities as defined in the Registration Rights Agreements.

    

    3. The
      Maturity Dates of the Notes (as defined in the Notes) shall be extended through
      September 30, 2007. 

    

    4. Moreover,
      GMF and GSSF hereby agree to waive any claims for default and damages (including
      claims for liquidated damages pursuant to Section 2 of the Agreements) that
      have accrued through the date set forth below as a result of ATG’s failure to
      meet its obligations with respect to the Filing Dates and Effectiveness Dates
      as
      originally defined in the Registration Rights Agreements, and/or to the extent
      that ATG has failed to make timely payments pursuant to the unmodified terms
      of
      the Notes. Further, GMF and GSSF further agree to waive any claim for default
      as
      a result of ATG’s failure to meet the financial reporting requirements set forth
      in section 11 of the Security Agreements from September 7, 2005 through January
      15, 2007, provided, that ATG shall bring itself into compliance with such
      requirements prior to January 31, 2007. 

    

    If
      these
      above-described amendments are satisfactory to you, please execute the
      acknowledgement portion of this letter in the space set forth below which will
      constitute your agreement to the foregoing terms. 

    

    Sincerely,

     

    Michael
      S. Luther

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    

    ACCEPTANCE

     

    
      Acknowledged
        and agreed this 12th day of December 2006 by the undersigned.

    

     

    
      	 	
              Gryphon
                Master Fund, L.P.

            
	 	 
	 	
              /s/
                E.B. Lyon, IV, authorized agent

            
	 	 
	 	
              GSSF
                Master Fund, LP

            
	 	 
	 	
              /s/
                E.B. Lyon, IV, authorized agentUnassociated Document

    AMENDMENT
      No. 6 TO LICENSE AGREEMENT

    (Hasbro
      Contract No. 100524) 

    

    This
      Amendment to License Agreement ("Amendment") is made as of December 15, 2006,
      by
      and between on the one part HASBRO, INC. and HASBRO INTERNATIONAL, INC.
      (collectively “Licensor”), and on the other part WMS GAMING INC.
      ("Licensee").

    

    Reference
      is made to a certain Worldwide Merchandising Agreement, dated September 1,
      1997,
      by and between Licensor and Licensee for use of the MONOPOLY property, as
      amended to date (as amended, the "Agreement"). Capitalized terms not otherwise
      defined herein shall have the same meaning as in the Agreement.

    

    WHEREAS,
      the parties desire to amend the Agreement as provided hereinbelow;

    

    NOW,
      THEREFORE, in consideration of the mutual covenants and promises contained
      herein and for other good and valuable consideration, the receipt and
      sufficiency of which are hereby acknowledged, Licensor and Licensee hereby
      amend
      the Agreement as follows:

    

    1. Monthly
      Statements and Payments:
      

    

    (a) Commencing
      with the statements and royalties for the [*]
      and
      thereafter during the Term and if applicable the Sell-Off Period, periodic
      royalty statements shall be furnished and royalty payments paid [*],
      rather
      than on a [*]
      basis,
      not later than the twenty-fifth (25th)
      day
      following the end of each [*].
      Therefore, for example, statements and payments with respect to [*]
      shall be
      due no later than [*].
      In
      addition, Licensee shall make a royalty payment by [*],
      of its
      good-faith estimate of royalties anticipated to be earned for the [*],
      such
      payment to be adjusted based on the royalty statements for [*]
      due on
      or before [*].

    

    (b) Paragraph
      1(b)(i)(B) of the License Agreement Summary part of the Agreement is amended
      by
      deleting the third to last sentence that reads “For avoidance of doubt, the
      Region Threshold Amounts refer to royalties earned in such period, and so,
      for
      example, [*]
      royalties
      which are payable on [*]
      would
not
      count
      toward the Region Threshold Amount for the
      [*]
      period
[*]
      through
      [*];
      and
      [*]
      royalties which are payable on
      [*] would
      count
      toward the Region Threshold Amount for the [*]
      period
      [*],”
and
      in
      its place inserting the following: "For avoidance of doubt, the Region Threshold
      Amounts refer to royalties earned in such period, and so, for example, royalties
      for the [*]
      which
      are payable on
      [*]
      would
      not count toward the Region Threshold Amount for the
      [*] period
      [*],
      but
would
      count
      toward the Region Threshold Amount for the [*]
      period
[*.]"
      

    

    *
      Information has been omitted from this document and filed separately with the
      Securities and Exchange Commission under a request for confidential treatment
      pursuant to Rule 24b-2 under the Securities Exchange Act of 1934, as
      amended.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    (c) Paragraph
      2(b)(i) of the License Agreement Summary part of the Agreement is amended by
      deleting the sentences in the middle of the paragraph that reads: “For avoidance
      of doubt, the Advance Payment for a [*]
      is
      applied to royalties paid in such [*],
      and so,
      the royalties for revenues earned in the [*],
      but
      payable by
      [*]
      of the
      following [*],
      shall
      be offset against the Advance Payment for such following
      [*].
      The
      royalties for revenues earned in the [*],
      but
      payable by [*],
      shall
      be offset against the Advance Payment for [*]”
and
      in
      their place inserting the following:

    

    In
      recognition of the change starting with the [*]
      of
      royalty payments being paid and reported [*]
      rather
      than [*],
      but
      wanting to keep the same
      [*]
      corresponding to each [*]
      Advance
      Payment, Licensor and Licensee agree that notwithstanding anything to the
      contrary hereinabove in this paragraph, each annual Advance Payment for a
      certain [*]
      shall be
      applied, offset and credited against royalties for revenues earned in the
[*]
      of
      the
      previous [*]
      and the
      first [*]
      of such
[*].
      Accordingly, the Advance Payment for [*]
      shall be
      applied, offset and credited against royalties earned in the period [*]
      (notwithstanding that royalty payments for [*]
      are paid
      in [*]
      or that
      royalty payments for [*]
      were
      paid in [*]),
      and
      the Advance Payment for [*]
      shall
      apply to, offset and be credited against royalties earned in the period
[*]
      (notwithstanding that royalty payments for [*]
      are
      payable in [*]),
      and so
      on for future time periods.

    

    (d) Paragraph
      2(b)(ii) of the License Agreement Summary part of the Agreement is amended
      by
      deleting the sentences in the middle of the paragraph that read: “For avoidance
      of doubt, the Advance Payment for [*]
      is
      applied to royalties paid in such [*],
      and so,
      the royalties for revenues earned in the [*],
      but
      payable by [*]
      of the
      following [*],
      shall
      be offset against the Advance Payment for such following [*].
      The
      royalties for revenues earned in [*],
      but
      payable by [*]
      shall be
      offset against the Advance Payment for [*]”
and
      in
      their place inserting the following: 

    

    In
      recognition of the change starting with [*]
      of
      royalty payments being paid and reported [*]
      rather
      than [*],
      but
      wanting to keep the same [*]
      corresponding to each [*]
      Advance
      Payment, Licensor and Licensee agree that notwithstanding anything to the
      contrary hereinabove in this paragraph, each [*]
      Advance
      Payment for a Region for a certain [*]
      shall be
      applied, offset and credited against royalties for revenues earned in such
      Region in [*]
      of the
      previous [*]
      and the
[*]of
      such
[*]
      regardless as to whether the royalties are paid in the current [*]
      or the
      previous [*].
      Accordingly, 

    

    *
      Information has been omitted from this document and filed separately with the
      Securities and Exchange Commission under a request for confidential treatment
      pursuant to Rule 24b-2 under the Securities Exchange Act of 1934, as
      amended.

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    the
      Advance Payment for a Region for [*]
      shall be
      applied, offset and be credited against royalties earned in such Region in
      the
      period [*],
      whether
      paid in [*]
      (notwithstanding that royalty payments for [*]
      are to
      be paid in [*]),
      and
      the Advance Payment for a Region for [*]
      shall
      apply to royalties earned in such Region in the period [*]
      (notwithstanding that royalty payments for [*]
      are
      payable in [*]),
      and so
      on for future time periods. 

    

    (e) In
      recognition of the changes made by this Amendment, the first sentence of
      Paragraph 2(b)(ii) of the License Agreement Summary part of the Agreement is
      hereby amended by adding, after the words “provided below” in the parenthetical,
      the following: “and as [*]
      by
      amendments made in this Amendment to the Advance Guarantee for the Region
      designated as "Russia & Europe (no UK).”

    

    2. Europe
      (including Russia) Region:
      

    

    (a) On
      Exhibit 3 for the Region designated thereon as "Russia & Europe (no UK)"
      (also referred to in the License Agreement Summary part of the Agreement as
      the
      "Europe (including Russia, but excluding the United Kingdom)" Region), the
      figure for [*]
      is
      amended from [*]
      and for
      the [*]
      from
[*]
      to
[*]
      Licensor
      agrees to credit Licensee the [*]
      that it
      has paid in excess of the revised Advance Guarantee for Russia & Europe (no
      UK) for [*]
      by
      applying this sum to Licensee’s minimum Advance Guarantee for Russia &
Europe for [*].
      Accordingly the amount to be paid toward the Advance Payment for the Europe
      (including Russia, but excluding the United Kingdom) Region for [*]
      due on
      or before [*]
      shall be
[*]
      (the
      amended figure of [*]
      minus
      the credit of [*]).
      Further, the minimum Advance Guarantees for the Region designated on Exhibit
      3
      as "Russia & Europe (no UK)" shall be [*]
      of the
      figures stated therein until such time as the Russian market reopens to the
      placement of Gaming Devices through a legislative change or other change in
      governmental policy. Upon such a change and the resulting actual reopening
      the
      Russian market, the [*]
      shall be
      eliminated (and eliminated on a pro
      rata
      basis by
[*]
      during
      the [*]
      in which
      the Russian market reopens). 

    

    (b) On
      Exhibit 5 for the Region designated thereon as "Russia & Europe (no UK),"
      the figure for the period [*]
      is
      amended from [*]
      and
      accordingly the Biennial Region Threshold Amount for the Europe (including
      Russia, but excluding the United Kingdom) Region for the [*]
      period
      ending [*]
      shall be
      the amended figure of [*].
      Similarly, the Biennial Region Threshold Amounts for the Region designated
      on
      Exhibit 5 as "Russia & Europe (no UK)” shall also be [*]
      of the
      figures stated therein until such time as the Russian market reopens to the
      placement of Gaming Devices through a legislative change or other change in
      governmental policy. Upon such a change and the resulting actual reopening
      of
      the Russian market, the [*]
      shall be
      eliminated (and eliminated on a pro
      rata
      basis by
[*]
      during
      the [*]
      in which
      the Russian market reopens). Furthermore, Licensor waives any right that it
      may
      have 

    

    *
      Information has been omitted from this document and filed separately with the
      Securities and Exchange Commission under a request for confidential treatment
      pursuant to Rule 24b-2 under the Securities Exchange Act of 1934, as
      amended.

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    had
      to
      eliminate the Europe (including Russia, but excluding the United Kingdom) Region
      from the Territory based on failure of Licensee to earn royalties equal to
      the
      Region Threshold Amount for such Region for the [*]
      period
      ending [*].

    

    (c) For
      the
      avoidance of doubt, the foregoing amendments with respect to the Europe
      (including Russia, but excluding the United Kingdom) Region are not intended
      to
      foreclose the ability of the parties to agree to revisions to the Advance
      Payments and Region Threshold Amounts for such Region for [*]
      as a
      result of a Macro Regulatory Change as provided in Paragraph 10(b) of the
      License Agreement Summary part of the Agreement, including, without limitation,
      as a result of a Macro Regulatory Change that has occurred prior to the date
      of
      this Agreement. 

    

    3. United
      Kingdom Region:

    

    (a) Commencing
      with [*]
      and
      thereafter during the Term, the Advance Payments for the United Kingdom Region
      for each [*]
      shall be
      determined as follows, and the Annual Minimum Advance Guaranteed Royalties
      for
      the United Kingdom Region set forth on Exhibit 4 are hereby
      deleted:

    

    (i)
      Until
      the first [*]
      in which
      a regional casino/super casino ("Super Casino") is licensed and operating in
      the
      Region, the Advance Payment shall be [*]
      United
      States Dollars [*].
      

     

    (ii)
      Commencing with the first [*]
      in which
      a Super Casino is licensed and operating in the Region and thereafter for each
      [*]
      until
      the first [*]
      in which
[*]
      or more
      Super Casinos are licensed and operating in the Region, the Advance Payment
      shall be [*].
      The
      Advance Payment for the first [*]
      in which
      a Super Casino is licensed and operating shall be paid no later than
[*]
      after
      the first Super Casino is licensed and operating and in later [*]
      while
      this subparagraph 3(a)(ii) applies the Advance Payment shall be paid no later
      than [*]
      of the
      applicable [*]
      as
      provided in the Agreement. 

    

    (iii)
      For
      the first [*]
      in which
[*]
      or more
      Super Casinos are licensed and operating in the Region, the Advance Payment
      shall be a total of [*],
      or a
pro
      rata
      portion
      thereof calculated on a [*]
      basis
      for that first [*],
      which
      amount (above the [*]
      that may
      have already been paid for such [*]
      under
      subparagraph (ii) above) shall be paid no later than thirty (30) days after
      the
[*]
      Super
      Casino is licensed and operating. (For the avoidance of doubt with respect
      to
      determining the pro rata portion on a [*]
      basis
      for that first [*]:
      if the
[*]
      Super
      Casino is first licensed and operating in [*],
      then
      the total Advance Payment for such [*]
      shall be
[*];
      if the
[*]
      Super
      Casino is first licensed and operating in [*],
      then
      the total Advance Payment for such [*]
      shall be
[*];
      if the
[*]
      Super
      Casino is first licensed and operating in [*],
      then
      the total Advance 

    

    *
      Information has been omitted from this document and filed separately with the
      Securities and Exchange Commission under a request for confidential treatment
      pursuant to Rule 24b-2 under the Securities Exchange Act of 1934, as
      amended.

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

    Payment
      for such [*]
      shall be
[*];
      and so
      on for each [*],
      provided that in no event shall such total Advance Payment be less than
[*])
      Thereafter in each subsequent [*]
      the
      Advance Payment shall be made on [*]
      and
      shall be equal to [*]
      multiplied by the number of Super Casinos licensed and operating as of such
      [*]
      date;
      provided, however, that (A) notwithstanding anything to the contrary contained
      herein, the maximum [*]
      Advance
      Payment that Licensee shall pay for the Region, regardless of the number of
      Super Casinos licensed and operating as of [*],
      shall
      be [*],
      and (B)
      if there are less than [*]
      Super
      Casinos licensed and operating as of such [*],
      then
      the Advance Payment for such [*]
      shall be
[*]
      United
      States Dollars [*],
      regardless of the number of Super Casinos less than [*]
      licensed
      and operating as of such [*].

    

    (b) Commencing
      with [*]
      and
      thereafter during the Term, the following provisions shall apply with respect
      to
      the Licensor's ability to eliminate the United Kingdom Region from the Territory
      based on failure to earn royalties for such Region equal to the applicable
      Region Threshold Amount for any [*]
      as
      provided in Paragraph 1(b)(i)(B) of the License Agreement Summary:

    

    (i)
      Until
      the first calendar year in which [*]
      Super
      Casinos are licensed and operating in the Region, the amount attributable to
      the
      Region Threshold Amount for each [*]
      shall be
[*],
      notwithstanding that the Advance Payment for such [*]
      may be
[*]
      under
      subparagraph (b)(ii) above.

    

    (ii)
      Commencing with the first [*]
      in which
[*]
      or more
      Super Casinos are licensed and operating in the Region and thereafter for each
      [*]
      during
      the Term, the amount attributable to the Region Threshold Amount for that
[*]
      shall be
[*]
      multiplied by the Advance Payment for such [*],
      notwithstanding if in any [*]
      thereafter the number of Super Casinos licensed and operating in the Region
      decreases to fewer than [*].

    

    (iii)
      The
      Region Threshold Amount for the United Kingdom Region for each applicable
[*]
      period
      ending [*]
      shall be
      the sum of the amounts attributable to each of the [*]
      in such
[*]
      period
      as provided in subparagraphs (i) and (ii) above, and the Region Threshold
      Amounts for the United Kingdom Region set forth on Exhibit 6 are hereby deleted.
      As examples: 

    (X)
      if
      the [*]
      in which
[*)]
      or more
      Super Casinos are licensed and operating in the Region is [*]
      and the
[*]
      Super
      Casino is first licensed and operating in [*],
      then
      the Region Threshold Amount for the [*]
      period
      ending [*]
      shall be
      the sum of [*]
      and
[*]
      (equal
      to the [*]
      Advance
      Payment amount of [*]
      multiplied by [*])
      for a
      total of [*];
      and

    

    *
      Information has been omitted from this document and filed separately with the
      Securities and Exchange Commission under a request for confidential treatment
      pursuant to Rule 24b-2 under the Securities Exchange Act of 1934, as
      amended.

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

    (Y)
      if
      thereafter there are [*]
      Super
      Casinos licensed and operating as of [*]
      and
[*]
      Super
      Casinos licensed and operating as of [*],
      then
      the Region Threshold Amount for the [*]
      period
      ending [*]
      shall be
      the sum of [*]
      (equal
      to the Advance Payment of [*]
      multiplied by [*])
      and
[*]
      (equal
      to the Advance Payment of [*]
      multiplied by [*])
      for a
      total of [*].

     

    (c) Paragraph
      2(b)(iii)(D) of the License Agreement Summary with respect to the Advance
      Payments and Region Threshold Amounts for the United Kingdom Region is deleted
      from the Agreement.

    

    (d) For
      clarification, with respect to the UK Region under the UK Gambling Act 2005,
      exclusion (A) in the definition of "Licensed Articles" and “Gaming Device” set
      forth in Paragraph 1(a)(i) of the License Agreement Summary part of the
      Agreement shall not exclude [*]
      games
      but shall exclude [*]
      games;
      provided, however, that it is further understood that in light of Licensor's
      license with [*]
      which
      expires [*],
      the
      rights Licensee has with respect to [*]
      games
      shall be on a non exclusive basis for the period through [*],
      and
      shall be on an exclusive basis starting on [*]
      through
      the Term of the Agreement, subject to [*]
      pre
      existing sell-off rights for the [*]
      under
      its existing license with Licensor. Licensee shall use reasonable efforts to
      place [*]
      Gaming
      Devices in the UK Region through sublicensees, provided that Licensor approves
      such sublicensees, such approval not to be unreasonably withheld. For the
      avoidance of doubt, Licensee's rights with respect to [*]
      games
      are on an exclusive basis.

    

    4. Paragraph
      2(c) the License Agreement Summary part of the Agreement is amended by deleting
      the words “[*]”
and
      replacing them with “[*].”
      

    

    5. Paragraph
      2(d) the License Agreement Summary part of the Agreement is amended by deleting
      the words “[*]”
in
      the
      first sentence and replacing them with “[*].”
      Paragraph 2(d) of the License Agreement Summary part of the Agreement is hereby
      further amended by adding the following at the end of the
      paragraph:

    

    All
      payments by Licensee to Licensor shall be made in United States Dollars by
      electronic payment to Licensor as follows: 

    

    Payments
      by wire transfer shall be sent to:

    

    [*]

    

    *
      Information has been omitted from this document and filed separately with the
      Securities and Exchange Commission under a request for confidential treatment
      pursuant to Rule 24b-2 under the Securities Exchange Act of 1934, as
      amended.

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

     

    Payments
      by ACH transfer shall be sent to:

    

    [*]

    

    6. Paragraph
      1(c) of the License Agreement Summary part of the Agreement is amended by
      replacing the figure "[*]"
      which
      appears twice in the second-to-last paragraph of such Paragraph with the figure
      "[*]".

    

    7. The
      paragraph and other headings (if any) contained in this Amendment are for
      reference purposes only and should not be deemed to affect the meaning or
      interpretation of this Amendment or the Agreement. This Amendment may be
      executed in one or more counterparts, and by facsimile transmission, each copy
      of which shall be deemed an original and all of which, when taken together,
      shall constitute one and the same instrument, but this Amendment shall not
      be
      binding upon the parties until it has been signed by each party. The parties
      hereto agree that facsimile signatures on a copy of this Amendment shall be
      effective and enforceable as if they were original signatures.

    

    Except
      as
      specifically modified or amended by this Amendment, all terms and conditions
      of
      the Agreement are unmodified and remain in full force and effect.

    

    This
      document shall not be deemed an offer and shall not be binding unless signed
      by
      all named parties.

    

    IN
      WITNESS WHEREOF, the undersigned have executed this Amendment as of the date
      first above written.

    

    
      	
              HASBRO,
                INC.

            	WMS
              GAMING INC.
	 	 	 	 
	
              By:
                

            	
              /s/
                Barry Nagler

            	
              By:
                

            	
              /s/
                Orrin J. Edidin

            
	
               

            	
              Senor
                Vice President 

            	
               

            	
              Executive
                Vice President

            
	
               

            	
              General
                Counsel & Secretary 

            	
               

            	
              Chief
                Operating Officer

            
	
              Date:

            	
              12/15/06

            	
              Date:
                

            	
              12/15/06

            

    

    

    *
      Information has been omitted from this document and filed separately with the
      Securities and Exchange Commission under a request for confidential treatment
      pursuant to Rule 24b-2 under the Securities Exchange Act of 1934, as
      amended.

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

    HASBRO
      INTERNATIONAL, INC.

    

    
      	
              By:
                

            	
              /s/
                Barry Nagler

            
	
               

            	
              Senor
                Vice President

            
	
               

            	
              General
                Counsel & Secretary 

            

    

    

    Date:
      12/15/06

    

    
      
        
        

      

      
        8

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