Document:

Unassociated Document

    Exhibit
      10.1

    

    Elixir
      Group Limited

     

    and

    

    VendingData
      Corporation

    

    and

    

    Jim
      Crabbe

    

    and

    

    Mark
      Newburg

     

    Alliance
      Agreement

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    THIS
      ALLIANCE AGREEMENT
      is made
      on 11 October 2006

    

    PARTIES

    

    ELIXIR
      GROUP LIMITED

    of
      38/F.,
      The Centrium, 60 Wyndham Street, Central, Hong Kong

    (“Elixir”)

    

    and

    

    VENDINGDATA
      CORPORATION

    of
      6830
      Spencer Street, Las Vegas, Nevada 89119 United States of America

    (“VDC”)

     

    and

    

    JIM
      CRABBE

    of
      6830
      Spencer Street, Las Vegas, Nevada 89119 United States of America

    (“Jim
      Crabbe”)

    

    and

    

    MARK
      NEWBURG

    of
      6830
      Spencer Street, Las Vegas, Nevada 89119 United States of America

    (“Mark
      Newburg”)

    

    BACKGROUND

     

    
      	
              A

            	
              Elixir
                agrees that VDC can join the Asian gaming technology alliance established
                by Elixir. 

            

    

     

     

    
      	
              B

            	
              Contemporaneously
                with the execution of this Agreement, Elixir and VDC will enter or
                have
                entered into such definitive agreements with a view to giving effect
                to
                the VDC Equity Issue and the Exclusive Distribution Arrangement and
                during
                the Evaluation Period the parties will continue to work to complete
                the
                Engineering and Manufacturing Alliance and the Elixir Equity Acquisition.
                

            

    

     

    AGREED
      TERMS

     

    
      	
              1

            	
              Definitions
                and interpretation

            

    

     

    
      	
              1.1

            	
              Definitions

            

    

     

    In
      this
      Agreement, unless the context requires otherwise:

     

    “Agreement”
means
      this alliance agreement, as amended or varied from time to time in accordance
      with clause 11.5.

     

    
      
        ***
          Confidential Treatment Requested

        
        

      

      
        1

        
          

        

      

      
        
        

      

    

     

    “Asia
      Representative Agreement”
means
      the Asia representative agreement entered into between, inter alia, Elixir
      and
      Shuffle Master dated 11 April 2006.

     

    “Authorised
      Representative”
means
      in respect of a party, the chief executive officer or other designated senior
      executive of that party. 

     

    
      	 	
              “Asia”
                means all countries in the generally accepted Asian region, including
                Cambodia, China, Goa, Guam, India, Japan, Kazakhstan, Korea, Laos,
                Macau,
                Malaysia, Myanmar, Mongolia, Nepal, Philippines, Saipan, Singapore,
                Russia, Sri Lanka, Tinian Islands, Taiwan, Thailand, Vietnam, provided
                that each of the forgoing are legal gaming jurisdictions at such
                time, any
                cruise ship registered in or operates principally out of any of these
                jurisdictions (assuming that they are legal at the time) and all
                other
                gaming jurisdictions in the generally accepted Asian region that
                subsequently become legal. 

            

    

     

    
      	 	
              “Change
                of Control”
                means with respect to either Elixir or VDC, and shall be deemed to
                occur
                upon the happening of, any one of the
                following:

            

    

     

    
      	 	
              (a)

            	
              The
                acquisition, directly or indirectly, in a single transaction or a
                series
                of related transactions by any person or group of related persons
                resulting in the beneficial ownership of 50% or more of the combined
                voting power of the outstanding voting securities of the party or,
                in the
                case of Elixir, any parent corporation;

            

    

     

    
      	 	
              (b)

            	
              The
                consummation of a reorganization, merger or consolidation or sale
                of
                substantially all of the assets of the party or, in the case of Elixir,
                any of its parent corporation (other than any such reorganization,
                merger,
                consolidation or sale of assets that relates to, for the purposes
                of or
                pursuant to (i) in the case of Elixir, any initial public offering
                of
                Elixir or its parent corporation and/or the Elixir Equity Acquisition;
                and
                (ii) in the case of VDC, the VDC Equity Issue and/or the Engineering
                and
                Manufacturing Alliance), including, without limitation, a corporation
                which as a result of such transaction owns the party or all or
                substantially all of the party’s assets either directly or through one or
                more subsidiaries. 

            

    

     

    “Claim”
means
      any claim, notice, demand, action, proceeding, litigation, investigation or
      judgment and the related damage, loss, cost, expense or liability incurred
      or
      suffered by the person concerned, however it arises and whether it is present
      or
      future, fixed or unascertained, actual or contingent.

     

    “Commencement
      Date”
means
      the date of this Agreement.

     

    “Elixir
      Equity Acquisition”
means
      the proposed acquisition by VDC of an equity interest in Elixir together with
      the prior or simultaneous transfer of any shares of VDC held by Elixir to Melco
      or its nominees.

     

    “Engineering
      and Manufacturing Alliance”
means
      the proposed agreement to be entered into between Elixir and VDC in relation
      to
      any or all of the following:

     

    
      	 	
              (a)

            	
              Elixir
                integrating its research and development centre with VDC’s engineering
                division in Zhuhai the People’s Republic of China;
                

            

    

     

    
      	 	
              (b)

            	
              the
                acquisition by Elixir of a direct equity interest in a special purpose
                entity formed by VDC to hold the manufacturing facility of VDC located
                in
                Zhuhai, the People’s Republic of China; and

            

    

     

    
      	 	
              (c)

            	
              the
                manufacturing by VDC of Elixir’s product
                requirements.

            

    

     

    
      
        ***
          Confidential Treatment Requested

        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    “Evaluation
      Period”
means
      the period commencing on the Commencement Date and ending on the earlier
      of:

     

    
      	 	
              (a)

            	
              the
                date of termination of this Agreement pursuant to clause 8;
                and

            

    

     

    
      	 	
              (b)

            	
              30
                September 2007 or such later date as may be agreed by the parties
                in
                writing. 

            

    

     

    “Event
      of Default”
means
      any of the following events:

     

    
      	 	
              (a)

            	
              a
                party breaching any material provision of this Agreement or any of
                the
                agreements referred to in Section 2 (unless such breach is due to
                fault on
                the part of the other party or its affiliates) fails to remedy the
                breach
                within 30 days after receiving written notice of breach from the
                other
                party describing in reasonable detail the nature of the beach, unless
                the
                breach is incapable of remedy in which case the Event of Default
                shall
                occur immediately upon delivery of written notice by the non-breaching
                party; 

            

    

     

    
      	 	
              (b)

            	
              an
                Insolvency Event occurring in relation to a
                party.

            

    

     

    “Exclusive
      Distribution Arrangement”
means
      a
      proposed variation to the existing Sales Representative Agreement dated 5
      January 2006 (“Sales Representative Agreement”) between Elixir and VDC to
      provide for the exclusive distribution by Elixir of Products and New Products
      throughout Asia for a term of up to twenty years. 

     

    “Global
      Alliance Arrangement”
means
      a
      proposed arrangement whereby VDC or Elixir intend to pursue business
      opportunities with a third party that arises from the acceptance by either
      VDC
      or Elixir (as the case may be) of a Global Alliance Offer made by the other
      party.

     

    “Global
      Alliance Offer” has
      the
      meaning given to that term in clause 7.8.

     

    “Insolvency
      Event”
means
      the occurrence of any of the following events in relation to any
      person:

     

    
      	 	
              (a)

            	
              the
                person becomes insolvent, states that it is insolvent or is presumed
                to be
                insolvent under any applicable law;

            

    

     

    
      	 	
              (b)

            	
              the
                person is wound up, dissolved or declared
                bankrupt;

            

    

     

    
      	 	
              (c)

            	
              the
                person becomes an insolvent under administration under any applicable
                law;

            

    

     

    
      	 	
              (d)

            	
              a
                liquidator, provisional liquidator, controller, administrator, trustee
                for
                creditors, trustee in bankruptcy or other similar person is appointed
                to,
                or takes possession or control of, any or all of the person’s assets or
                undertaking;

            

    

     

    
      	 	
              (e)

            	
              the
                person enters into or becomes subject
                to:

            

    

     

    
      	
            	(i)	
              any
                assignment for the benefit of one or more of its creditors;
                or

            

    

     

    
      	
            	(ii)	
              any
                re-organisation, moratorium, deed of company arrangement or other
                administration involving one or more of its
                creditors;

            

    

     

    
      	 	
              (f)

            	
              an
                application or order is made (and, in the case of an application,
                it is
                not stayed, withdrawn or dismissed within 30 days), resolution passed,
                proposal put forward, or any other action taken which is preparatory
                to or
                could result in any of (b),
                (c),
                (d)
                or
                (e)
                above; or

            

    

     

    
      	 	
              (g)

            	
              the
                person suspends payment of its debts without any lawful reason, ceases
                or
                threatens to cease to carry on all or a material part of its business
                or
                becomes unable to pays its debts when they fall
                due.

            

    

    
       

      “Melco”
means
        Melco International Development Limited, a Hong Kong company.

       

    

    
      
        ***
          Confidential Treatment Requested

        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

     

    “Melco
      PBL Joint Venture”
means
      the joint venture established between Melco and Publishing and Broadcasting
      Limited for pursuance of the gaming and entertainment business in the pan Asian
      region.

     

    “New
      Products”
means
      any new products developed or sold by VDC that are not of a type of product
      that
      Elixir distributes at the relevant time, provided that the term New Products
      shall not include shuffler, deck checking or verification devices developed
      or
      sold by VDC.

     

    “Parties”
or
      “parties”
unless
      otherwise specified herein, mean Elixir and VDC and the term “Party”
or
      “party”
shall
      refer to any of them (but excluding Jim Crabbe and Mark Newburg).

     

    “Products”
means
      only VDC’s chips, and plaques (including RFID enabled chips and plaques) and
      chip washers and for purposes of clarification shall not include VDC’s shuffler,
      deck checking or verification devices.

     

    “Share
      Placement Shares”
means
      the shares to be sold to Elixir by VDC pursuant to the Securities Purchase
      Agreement and the Registration Rights Agreement referred to in
      clause 2(a).

     

    “Shuffle
      Master”
means
      Shuffle Master Inc of 1106 Palms Airport Drive, Las Vegas, Nevada, United States
      of America.

     

    “VDC
      Equity Issue”
means
      the sale and issuance by VDC of the Share Placement Shares and the
      Warrants.

     

    “Warrants”
means
      the warrants to be sold to Elixir by VDC pursuant to the terms of the Common
      Stock Purchase Warrant Agreement referred to in clause 2(a).

     

    
      	
              1.2

            	
              Words
                and expressions

            

    

     

    In
      this
      Agreement, unless the context requires otherwise:

     

    
      	 	
              (a)

            	
              the
                singular includes the plural and vice
                versa;

            

    

     

    
      	 	
              (b)

            	
              words
                denoting any gender include all
                genders;

            

    

     

    
      	 	
              (c)

            	
              where
                a word or phrase is defined, its other grammatical forms have a
                corresponding meaning;

            

    

     

    
      	 	
              (d)

            	
              a
                reference to a party, clause or paragraph is a reference to a party,
                clause or paragraph of this
                document;

            

    

     

    
      	 	
              (e)

            	
              headings
                are for convenience and do not affect
                interpretation;

            

    

     

    
      	 	
              (f)

            	
              the
                background or recitals to this document are adopted as and form part
                of
                this document;

            

    

     

    
      	 	
              (g)

            	
              a
                reference to any document or agreement includes a reference to that
                document or agreement as amended, novated, supplemented, varied or
                replaced from time to time;

            

    

     

    
      	 	
              (h)

            	
              a
                reference to a time is a reference to local time of the party receiving
                notice hereunder;

            

    

     

    
      	 	
              (i)

            	
              a
                reference to a party includes its executors, administrators, successors,
                substitutes (including persons taking by novation) and permitted
                assigns;

            

    

     

    
      	 	
              (j)

            	
              a
                reference to writing includes any method of representing words, figures
                or
                symbols in a permanent and visible
                form;

            

    

     

    
      
        ***
          Confidential Treatment Requested

        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    
      	 	
              (k)

            	
              words
                and expressions denoting natural persons include bodies corporate,
                partnerships, associations, firms, governments and governmental
                authorities and agencies and vice
                versa;

            

    

     

    
      	 	
              (l)

            	
              no
                rule of construction applies to the disadvantage of a party because
                that
                party was responsible for the preparation of this document or any
                part of
                it; and

            

    

     

    
      	 	
              (m)

            	
              the
                words “including”, “for example”, “such as” or other similar expressions
                (in any form) are not words of
                limitation.

            

    

     

    
      	
              2

            	
              Contemporaneous
                Agreements

            

    

     

    Contemporaneously
      with the execution of this Agreement, Elixir and VDC will enter
      into:

     

    
      	 	
              (a)

            	
              the
                Securities Purchase Agreement, the Common Stock Purchase Warrant
                Agreement
                and the Registration Rights Agreement and any other written documents
                considered necessary to give effect to the VDC Equity Issue;
                and

            

    

     

    
      	 	
              (b)

            	
              an
                amendment to the Sales Representative Agreement (the “Amended and Restated
                Sales Representative Agreement”), which amendment agreement will give
                effect to the Exclusive Distribution
                Arrangement.

            

    

     

    
      	
              3

            	
              Engineering
                and Manufacturing Alliance

            

    

     

    
      	
              3.1

            	
              Negotiation
                of Engineering and Manufacturing
                Alliance

            

    

     

    During
      the Evaluation Period, the parties will negotiate the Engineering and
      Manufacturing Alliance.

     

    
      	
              3.2

            	
              Provisions
                of Engineering
                and Manufacturing Alliance

            

    

     

    The
      key
      elements of the Engineering and Manufacturing Alliance are expected to provide
      that, subject to regulatory approval (if required):

     

    
      	 	
              (a)

            	
              Elixir
                will integrate its research and development centre (“R&D
                Centre”)
                with VDC’s engineering division in Zhuhai, the People’s Republic of China.
                This integration will not involve the transfer of either party’s
                intellectual property rights to the other or provide VDC with any
                ownership rights in the R&D Centre or Elixir with any ownership rights
                in VDC’s engineering division in
                Zhuhai;

            

    

     

    
      	 	
              (b)

            	
              once
                Elixir is satisfied that VDC has the capacity to produce sufficient
                quantities of Elixir’s products at the agreed prices and consistently of
                an acceptable quality, then VDC will manufacture all of Elixir’s product
                requirements from its China manufacturing facility upon such terms
                to be
                agreed; and 

            

    

     

    
      	 	
              (c)

            	
              Elixir
                and VDC will negotiate in good faith the terms on which Elixir will
                acquire a direct equity interest in a special purpose entity formed
                by VDC
                to hold the China manufacturing facility on terms mutually acceptable
                to
                Elixir and VDC, subject to regulatory approval and subject also to
                there
                being no regulatory impediment in respect to Elixir’s investment in VDC at
                that time. It is currently envisaged that the amount invested by
                Elixir to
                acquire a direct equity interest in a special purpose entity formed
                by VDC
                may approximate US$1 million, (representing the outstanding capital
                infusion commitment given to the local Chinese authority in respect
                to the
                China manufacturing facility), but that any such investment will
                be
                subject to finalisation of all relevant agreements and completion
                of a
                valuation that is satisfactory to both
                parties.

            

    

     

    
      
        ***
          Confidential Treatment Requested

        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

    
      	
              4

            	
              Elixir
                Equity Acquisition

            

    

     

    
      	
              4.1

            	
              Development
                of the Elixir Equity Acquisition 

            

    

     

    During
      the Evaluation Period, the Parties will continue to negotiate in good faith
      with
      a view to developing and entering into the relevant definitive documents to
      give
      effect to the Elixir Equity Acquisition. In this regard, the Parties acknowledge
      that the finalisation of any definitive documents in respect of the Elixir
      Equity Acquisition may need to take into account:

     

    
      	 	
              (a)

            	
              regulatory
                and other legal considerations;

            

    

     

    
      	 	
              (b)

            	
              the
                changes in operating markets;

            

    

     

    
      	 	
              (c)

            	
              the
                changes in financial markets; and

            

    

     

    
      	 	
              (d)

            	
              interests
                of key stakeholders and alliance
                partners.

            

    

     

    
      	
              4.2

            	
              Board
                and Shareholder Approval

            

    

     

    Once
      the
      parties have sought and obtained their respective board approvals, the parties
      will do all things commercially reasonable to enter into and/or implement
      binding agreements relating to the agreed Elixir Equity Acquisition. The parties
      acknowledge that the consummation of the Elixir Equity Acquisition:

     

    
      	 	
              (a)

            	
              shall
                be subject to the approval of VDC shareholders, if required by law;
                and

            

    

     

    
      	 	
              (b)

            	
              may
                be subject to the approval of Melco’s shareholders pursuant to the Hong
                Kong stock exchange listing rules.

            

    

     

    
      	
              5

            	
              License
                of Elixir Brand

            

    

     

    
      	 	
              (a)

            	
              VDC
                intends to rename itself Elixir Gaming Technologies Incorporated,
                which
                name will be owned by Elixir and in this respect, subject to the
                approval
                of Elixir’s board, Elixir intends to grant a license to VDC for use of the
                trade name “Elixir” as soon as practicable after the Commencement Date, on
                a royalty free, non-exclusive and non-transferable basis and otherwise
                on
                terms acceptable to both parties, which licence will come into effect
                upon
                such time to be agreed by the parties and will
                be terminated forthwith in the event there is any enforcement action
                brought against VDC by any regulatory body. and during that time
                VDC will
                transition to a new name and, at the end of that 90 day period, VDC
                will
                cease to use the Elixir name. 

            

    

     

    
      	 	
              (b)

            	
              Subject
                to the grant of the license, VDC will not be permitted to use the
“Elixir”
                name in Asia as a product brand name to directly promote in Asia
                any
                product that Elixir does not distribute at that time; provided, however,
                this restriction shall not otherwise prohibit VDC from conducting
                business
                in Asia under the corporate name “Elixir Gaming Technologies
                Incorporated”. VDC, in connection with the use of the “Elixir” name, will
                comply with all guidelines issued by Elixir in the license and as
                Elixir
                may issue from time to time regarding the use by VDC of the “Elixir” name.
                Any new guideline or change to an existing guideline included in
                the
                original license that interferes in a material way with any then
                current
                use by VDC of the “Elixir” name in any material way will require the
                consent of VDC, which consent will not be unreasonably
                withheld.

            

    

     

    
      	 	
              (c)

            	
              Other
                than the immediate termination of the license granted by Elixir pursuant
                to clause 5(a) in the event of any enforcement action brought against
                VDC
                by any regulatory authority as mentioned in clause 5(a), If this
                Agreement
                is terminated or the Amended and Restated Sales Representative Agreement
                comes to an end for any reason whatsoever, Elixir may also terminate
                the
                licence by 90 days’ written notice and during that time VDC will
                transition to a new name and, at the end of that 90 day period, VDC
                will
                cease to use the Elixir name. 

            

    

     

    
      
        ***
          Confidential Treatment Requested

        
        

      

      
        6

        
          

        

      

      
        
        

      

    

     

    
      	 	
              (d)

            	
              During
                the term of the license, Elixir will release and indemnify VDC from
                and
                against all Claims that VDC’s use of the name “Elixir Gaming Technologies
                Incorporated” infringes the rights of another where the basis of the Claim
                is attributable to an action or actions by Elixir subsequent to the
                Commencement Date.

            

    

     

    
      	
              6

            	
              Shareholder
                approvals

            

    

     

    If
      any of
      the VDC Equity Issue, the Exclusive Distribution Arrangement, the Engineering
      and Manufacturing Alliance or the Elixir Equity Acquisition requires approval
      by
      VDC shareholders, each of Jim Crabbe and Mark Newburg, in their capacities
      as
      shareholders of VDC, shall vote all of the voting shares under their control
      in
      favour of the shareholder resolutions that are put to the shareholders of VDC
      in
      connection with those arrangements.

     

    
      	
              7

            	
              Restraints 

            

    

     

    
      	
              7.1

            	
              Elixir
                restraint

            

    

     

    In
      consideration for VDC agreeing to enter into this Agreement, during the
      Evaluation Period, Elixir will not:

     

    
      	 	
              (a)

            	
              sell
                any material portion of the business or material assets of Elixir
                outside
                of the ordinary course of business without making an Elixir Sale
                of
                Business Offer to VDC pursuant to clause 7.2;
                or

            

    

     

    
      	 	
              (b)

            	
              sell
                any capital shares of Elixir without making a Share Offer to VDC
                pursuant
                to clause 7.3.

            

    

     

    
      	
              7.2

            	
              Elixir
                Sale of Business Offer 

            

    

     

    If
      Elixir
      intends to sell any material portion of the business or material assets of
      Elixir outside of the ordinary course of business, it will provide notice to
      VDC
      setting out the terms on which it proposes to sell the material portion of
      the
      business or the material assets and offer VDC the right of first refusal to
      purchase the material portion of the business or the material assets
      (“Elixir
      Sale of Business Offer”).
      VDC
      may accept or reject the Elixir Sale of Business Offer and must provide notice
      of its position within 30 days of receipt of the offer. If VDC does not respond
      to an Elixir Sale of Business Offer within 30 days of receipt, it shall be
      deemed to have rejected the Elixir Sale of Business Offer and Elixir shall
      then
      be entitled to sell the relevant material portion of the business or material
      assets to any third party upon terms equal to or no less onerous than the Elixir
      Sale of Business Offer.

     

    
      	
              7.3

            	
              Offer
                to float business

            

    

     

    If
      Elixir
      intends to sell any capital shares of Elixir, it will provide notice to VDC
      setting out the terms on which it proposes to sell the shares and offer VDC
      the
      right of first refusal to purchase to 20% of the shares in the entity being
      floated (“Share
      Offer”).
      VDC
      may accept or reject the Share Offer and must provide notice of its position
      within 30 days of receipt of the offer. If VDC does not respond to the Share
      Offer within 30 days of receipt, it shall be deemed to have rejected the Share
      Offer.

     

    
      
        ***
          Confidential Treatment Requested

        
        

      

      
        7

        
          

        

      

      
        
        

      

    

     

    
      	
              7.4

            	
              VDC
                restraint

            

    

     

    In
      consideration for Elixir agreeing to enter into this Agreement, during the
      Evaluation Period, VDC will not:

     

    
      	 	
              (a)

            	
              compete
                with Elixir in Asia in the shufflers, deck checking and verification
                businesses;

            

    

     

    
      	 	
              (b)

            	
              take
                any other action as would or could potentially cause a breach of
                Elixir’s
                legal obligations to Shuffle Master under the Asia Representative
                Agreement;

            

    

     

    
      	 	
              (c)

            	
              compete
                with Elixir in Asia in respect of any other business;
                

            

    

     

    
      	 	
              (d)

            	
              VDC
                will not form a strategic alliance with any competitor of Elixir
                with
                respect to Asia or that is inconsistent with any Global Alliance
                Arrangement; 

            

    

     

    
      	 	
              (e)

            	
              VDC
                will not dispose of any of its material portion of its business or
                material assets outside of the ordinary course of business without
                making
                a VDC Sale of Business Offer to Elixir pursuant to clause 7.5;
                or

            

    

     

    
      	 	
              (f)

            	
              VDC
                will not solicit any proposal for the Change of Control of VDC (other
                than
                the VDC Equity Issue and the Elixir Equity Acquisition);
                or

            

    

     

    
      	 	
              (g)

            	
              solicit
                or persuade any person or entity to do anything which VDC is not
                permitted
                to do pursuant to clauses (i) through (iv).

            

    

     

    
      	
              7.5

            	
              VDC
                Sale of Business Offer

            

    

     

    If
      VDC
      intends to sell a material portion of its business or material assets outside
      of
      the ordinary course of business, it will provide notice to Elixir setting out
      the terms on which it proposes to sell the business or assets and offer Elixir
      the right of first refusal to purchase the business or assets (“VDC
      Sale of Business Offer”).
      Elixir may accept or reject the VDC Sale of Business Offer and must provide
      notice of its position within 30 days of receipt of the offer. If Elixir
      does not respond to a VDC Sale of Business Offer within 30 days of receipt,
      it
      shall be deemed to have rejected the VDC Sale of Business Offer and VDC shall
      then be entitled to sell the relevant business or assets to any third party
      upon
      terms equal to or no less onerous than the VDC Sale of Business
      Offer.

     

    
      	
              7.6

            	
              ***

            

    

     

    
      	
              7.7

            	
              Limitation
                on Global Alliance
                Arrangements

            

    

     

    During
      the Evaluation Period, neither Elixir nor VDC (either, the “Relevant
      Party”)
      will
      enter into an arrangement with a third party by any means pursuant to which
      the
      Relevant Party agrees to acquire any gaming technology, without first making
      a
      Global Alliance Offer to the other party pursuant to clause 7.8. For the
      avoidance of doubt, in the case of Elixir this restriction only applies if
      Elixir is pursuing the acquisition in its own right (and does not extend to
      acquisitions pursued by Melco, its other subsidiaries or the Melco PBL Joint
      Venture) and does not relate to acquisitions primarily related to the Asian
      gaming markets which Elixir has agreed it will pursue with Shuffle Master.
      Elixir confirms that it is the current intention of Melco that all acquisitions
      of gaming technology by Melco or any member of the Melco corporate group shall
      be conducted by or through Elixir. 

     

    
      
        ***
          Confidential Treatment Requested

        
        

      

      
        8

        
          

        

      

      
        
        

      

    

     

    
      	
              7.8

            	
              Global
                Alliance Offer

            

    

     

    If
      a
      Relevant Party intends to enter into an arrangement with a third party of the
      kind referred to in clause 7.7, it will give the other party an opportunity
      to participate equally with it in the arrangement by providing notice to the
      other party setting out the terms of its proposed arrangement with the third
      party (“Global
      Alliance Offer”).
      The
      other party may accept or reject the Global Alliance Offer and must provide
      notice of its position to the Relevant Party within 30 days of receipt of the
      offer. If the other party does not respond to a Global Alliance Offer within
      30
      days of receipt, it shall be deemed to have rejected the Global Alliance Offer.
      

     

    
      	
              7.9

            	
              Exceptions

            

    

     

    Notwithstanding
      anything to the contrary contained in this clause 7, if giving effect to
      any of the provisions of clauses 7.1 to 7.8 above will result in
      either:

     

    
      	 	
              (a)

            	
              the
                directors of a party having breached their fiduciary duties;
                or

            

    

     

    
      	 	
              (b)

            	
              the
                infringement of any legislation, rule or regulation or breach of
                any
                contractual obligation that exists as at the date hereof by a party,
                

            

    

     

    then
      that
      relevant party may undertake the activity otherwise prohibited by this
      clause 7, but upon determining to do so, it must give prior reasonable
      notice of its intention to do so to the other party.

     

    
      	
              8

            	
              Termination

            

    

     

    
      	
              8.1

            	
              Termination
                with immediate effect

            

    

     

    Elixir
      and VDC may terminate this Agreement with immediate effect by giving notice
      to
      the other parties if the other of them commits an Event of Default or if the
      other party undergoes a Change in Control.

     

    
      	
              8.2

            	
              Effect
                of termination

            

    

     

    Termination
      of this Agreement under this clause 8 (or any clauses of this Agreement
      giving either Elixir of VDC a right of termination) does not affect any accrued
      rights or remedies of any party.

     

    
      	
              9

            	
              Confidentiality

            

    

     

    
      	 	
              (a)

            	
              The
                parties acknowledge and agree that all negotiations and discussions
                between them in respect of the Engineering and Manufacturing Alliance,
                and
                the Elixir Equity Acquisition and the implementation of the Engineering
                and Manufacturing Alliance and the Elixir Equity Acquisition are
                confidential and are governed by the Confidentiality Deed entered
                into
                between VDC and Elixir on 21 April 2006, but subject to the ***
                .

            

    

     

    
      	 	
              (b)

            	
              Any
                public announcement of the terms of this Agreement issued by a party
                pursuant to any laws, rules and/or regulations must be in a form
                approved
                by the other party (provided that such approval shall not be unreasonably
                withheld and in particular, regarding the disclosure of any such
                information that may be specifically required by applicable laws,
                rules or
                regulations).

            

    

     

    
      	 	
              (c)

            	
              Unless
                required by law, regulation or gaming authority, each party agrees
                that it
                will not issue any news release, public announcement (other than
                those
                public announcements referred to in clause 9(b) above), or
                advertisement relating to this Agreement, its subject matter or any
                transactions as contemplated hereunder, nor will it otherwise publicise
                this Agreement, its subject matter or any transactions as contemplated
                hereunder, without first obtaining the written approval of both Elixir
                and
                VDC. 

            

    

     

    
      
        ***
          Confidential Treatment Requested

        
        

      

      
        9

        
          

        

      

      
        
        

      

    

     

    
      	
              10

            	
              Notices

            

    

     

    
      	
              10.1

            	
              Method

            

    

     

    All
      notices, requests, demands, consents, approvals, offers, agreements or other
      communications (“Notices”)
      given
      by a party under or in connection with this Agreement must be:

     

    
      	 	
              (a)

            	
              in
                writing;

            

    

     

    
      	 	
              (b)

            	
              signed
                by the party giving notice or a person duly authorised by that
                party;

            

    

     

    
      	 	
              (c)

            	
              directed
                to the recipient's address (as specified in clause 10.3 or as varied
                by any notice duly given pursuant to clause 10.30.3);
                and

            

    

     

    
      	 	
              (d)

            	
              hand
                delivered, sent by prepaid post or transmitted by facsimile to that
                address.

            

    

     

    
      	
              10.2

            	
              Receipt

            

    

     

    A
      Notice
      given in accordance with this clause is taken as having been given and
      received:

     

    
      	 	
              (a)

            	
              if
                hand delivered at or before 4.30 pm local time on a business day, on
                delivery, otherwise at 9.30 am local time on the next business
                day;

            

    

     

    
      	 	
              (b)

            	
              if
                sent by prepaid post:

            

    

     

    
      	 	
              (i)

            	
              within
                the country in which the recipient is located, on the second business
                day
                after the date of posting;

            

    

     

    
      	 	
              (ii)

            	
              to
                or from a place outside the country from which the party giving notice
                is
                located, on the seventh business day after the date of posting;
                or

            

    

     

    
      	 	
              (c)

            	
              if
                transmitted by facsimile at or before 4.30 pm local time on a
                business day, at the time recorded on the transmission report indicating
                successful transmission of the entire notice, otherwise at 9.30 am
                local time on the next business
                day.

            

    

     

    
      	
              10.3

            	
              Address
                of parties

            

    

     

    Unless
      varied by Notice in accordance with this clause 9(c),
      the
      parties' addresses and other details are:

     

    

      
        	
                Party:

              	 	
                Elixir
                  

              
	
                Attention:

              	 	
                Gordon
                  Yuen

              
	
                Copy:

              	 	
                Melco
                  International Development Limited

              
	
                Attention:

              	 	
                Samuel
                  Tsang

              
	
                Address:

              	 	
                Penthouse,
                  38/F, The Centrium, 60 Wyndham Street, Central, Hong
                  Kong

              
	
                Facsimile:

              	 	
                (852)
                  3162 3579

              
	 	 	 
	
                Party:

              	 	
                VDC

              
	
                Attention:

              	 	
                Mark
                  R. Newburg

              
	
                Address:

              	 	
                6830
                  Spencer Street, Las Vegas, Nevada 89119, United States of
                  America

              
	
                Facsimile:

              	 	
                (702)
                  617 4737

              

      

       

      
        
          ***
            Confidential Treatment Requested

          
          

        

        
          10

          
            

          

        

        
          
          

        

      

       

      
        	
                Party:

              	 	
                Jim
                  Crabbe

              
	
                Address:

              	 	
                6830
                  Spencer Street, Las Vegas, Nevada 89119, United States of
                  America

              
	
                Facsimile:

              	 	
                (702)
                  617 4737

              
	
                 

              	 	 
	
                Party:

              	 	
                Mark
                  Newburg

              
	
                Address:

              	 	
                6830
                  Spencer Street, Las Vegas, Nevada 89119, United States of
                  America

              
	
                Facsimile:

              	 	
                (702)
                  617 4737

              

      

    

     

    
      	
              11

            	
              General

            

    

     

    
      	
              11.1

            	
              Entire
                agreement

            

    

     

    This
      Agreement constitutes the entire agreement between the parties in relation
      to
      its subject matter. Unless otherwise expressly excluded hereunder, all prior
      discussions, undertakings, agreements, representations, warranties and
      indemnities in relation to that subject matter are replaced by this Agreement
      and have no further effect. For the avoidance of doubt, this provision shall
      not
      affect he validity or enforceability of any other agreements entered or to
      be
      entered into by the parties on the same date hereof, including but not limited
      to those agreements as referred to in clause 2(a).

     

    
      	
              11.2

            	
              Paramountcy
                of document

            

    

     

    If
      this
      Agreement conflicts with any other document, agreement or arrangement, this
      Agreement prevails to the extent of the inconsistency.

     

    
      	
              11.3

            	
              No
                merger

            

    

     

    The
      provisions of this document will not merge on completion of any transaction
      contemplated in this document and, to the extent any provision has not been
      fulfilled, will remain in force.

     

    
      	
              11.4

            	
              Attorneys

            

    

     

    Each
      person who executes this document on behalf of a party under a power of attorney
      warrants that he or she has no notice of the revocation of that power or of
      any
      fact or circumstance that might affect his or her authority to execute this
      document under that power.

     

    
      	
              11.5

            	
              Amendment

            

    

     

    This
      document may not be amended or varied unless the amendment or variation is
      in
      writing signed by both Elixir, and VDC and, in the event the amendment or
      variation affects their obligations hereunder, Jim Crabbe and Mark
      Newburg.

     

    
      	
              11.6

            	
              Assignment

            

    

     

    No
      party,
      including Jim Crabbe and Mark Newburg for the purpose of this clause, may
      assign, transfer or otherwise deal with this document or any right or obligation
      under this document without the prior written consent of both Elixir and
      VDC.

     

    
      	
              11.7

            	
              Successors
                and Assigns

            

    

     

    The
      obligations and liabilities imposed and the rights and benefits conferred on
      the
      parties under this document will be binding upon and enure in favour of the
      respective parties, their respective successors in title, legal personal
      representatives and permitted assigns.

     

    
      
        ***
          Confidential Treatment Requested

        
        

      

      
        11

        
          

        

      

      
        
        

      

    

     

    
      	
              11.8

            	
              Severability

            

    

     

    Part
      or
      all of any provision of this document that is illegal or unenforceable will
      be
      severed from this document and will not affect the continued operation of the
      remaining provisions of this document.

     

    
      	
              11.9

            	
              Waiver

            

    

     

    Waiver
      of
      any power or right under this document:

     

    
      	 	
              (a)

            	
              must
                be in writing signed by the party entitled to the benefit of that
                power or
                right; and

            

    

     

    
      	 	
              (b)

            	
              is
                effective only to the extent set out in that written
                waiver.

            

    

     

    
      	
              11.10

            	
              Rights,
                remedies additional

            

    

     

    Any
      rights and remedies that a person may have under this document are in addition
      to and do not replace or limit any other rights or remedies provided to that
      person by law.

     

    
      	
              11.11

            	
              Costs

            

    

     

    Each
      party must bear its own legal, accounting and other costs for the preparation
      and execution of this document.

     

    
      	
              11.12

            	
              Counterparts

            

    

     

    This
      Agreement may be executed in any number of counterparts and all counterparts
      taken together constitute one document.

     

    
      	
              11.13

            	
              Governing
                law and jurisdiction

            

    

     

    All
      questions concerning the construction, validity, enforcement and interpretation
      of this Agreement shall be governed by and construed and enforced in accordance
      with the laws of Hong Kong, without regard to the principles of conflicts of
      law
      thereof. Each party agrees that all legal proceedings concerning the
      interpretations, enforcement and defense of the transactions contemplated by
      this Agreement (whether brought against a party hereto or its respective
      affiliates, directors, officers, shareholders, employees or agents) shall be
      commenced exclusively in the courts sitting in Hong Kong. 

     

    
      
        ***
          Confidential Treatment Requested

        
        

      

      
        12

        
          

        

      

      
        
        

      

    

    EXECUTED
      as a
AGREEMENT

     

    
      	
              EXECUTED
                by
                ELIXIR
                GROUP LIMITED 

              by:

            	
              )

              )

            	 
	 	 	 
	 	 	 
	 	 	
              /s/
                Leong Van Tak

            
	 	 	
              Signature
                of director

            
	 	 	 
	 	 	 
	 	 	
              Leong
                Van Tak

            
	 	 	
              Name
                of director 

            

    

     

    
      	
              EXECUTED
                by
                VENDINGDATA
                

              CORPORATION
                by:

            	
              )

              )

            	 
	 	 	 
	 	 	 
	 	 	
              /s/
                Mark Newburg

            
	 	 	
              Signature
                of Officer

            
	 	 	 
	 	 	 
	 	 	
              Mark
                R. Newburg, Chief Executive Officer

            
	 	 	
              Name
                of director 

            

    

     

    
      	
              SIGNED
                by
                JIM
                CRABBE
                in
                the presence 

              of

            	
              )

              )

            	 
	 	 	 
	 	 	 
	
              /s/
                Irene Kaus

            	 	
              /s/
                Jim Crabbe

            
	
              Signature
                of witness

            	 	
              Jim
                Crabbe

            
	 	 	 
	 	 	 
	
              Irene
                Kaus

            	 	 
	
              Name
                of witness (print)

            	 	 

    

     

    
      	
              SIGNED
                by
                MARK
                NEWBURG
                in
                the 

              presence
                of

            	
              )

              )

            	 
	 	 	 
	 	 	 
	
              /s/
                Donna Vido

            	 	
              /s/
                Mark Newburg

            
	
              Signature
                of witness

            	 	
              Mark
                Newburg

            
	 	 	 
	 	 	 
	
              Dona
                Vido

            	 	 
	
              Name
                of witness (print)

            	 	 

    

    

    
      
        ***
          Confidential Treatment RequestedExhibit
        10.2

      

      AMENDED
        AND RESTATED SALES REPRESENTATIVE AGREEMENT

      

      THIS
        AMENDED AND RESTATED SALES REPRESENTATIVE AGREEMENT (“Agreement”) is entered
        into on October 11, 2006 between VENDINGDATA
        CORPORATION,
        a
        Nevada corporation of
        6830
        Spencer Street, Las Vegas, Nevada (“Principal”), and
        ELIXIR GROUP LIMITED, a
        Hong
        Kong company of
        38/F.,
        the Centrium, 60 Wyndham Street, Central, Hong Kong (“Elixir”).

      

      RECITALS

      

      A. Principal
        and Elixir have previously entered into that certain Sales Representative
        Agreement dated as of January 5, 2006 (the “Original Agreement”).

      

      B. The
        parties now wish to amend and restate the Original Agreement in its entirety
        pursuant to this Agreement effective as of the date of this
        Agreement.

      

      AGREEMENT

      

      The
        parties hereto agree as follows:

      

      Definitions

      In
        this
        Agreement the following terms shall have the meanings set forth below unless
        the
        context clearly indicates the contrary:

      

        
          	
                  “Asia”
                    

                	 	
                  means
                    all Cambodia, China, Goa, Guam, India, Japan, Kazakhstan, Korea,
                    Laos,
                    Macau, Malaysia, Myanmar, Mongolia, Nepal, Philippines, Saipan,
                    Singapore,
                    Russia, Sri Lanka, Tinian Islands, Taiwan, Thailand, Vietnam,
                    provided
                    that each of the forgoing are legal gaming jurisdictions at such
                    time, any
                    cruise ship based in any of these jurisdictions and all other
                    gaming
                    jurisdictions in Asia that subsequently become legal 

                
	 	 	 
	
                  “Asia
                    Representative Agreement”

                	 	
                  means
                    the Asia representative agreement entered into between inter
                    alia, Elixir
                    and Shuffle Master dated 11 April 2006.

                
	 	 	 
	
                  “Elixir
                    Price”

                	 	
                  ***
                    ;

                
	 	 	 
	
                  “Elixir
                    (Macau)”

                	 	
                  means
                    Elixir Group (Macau) Limited, a company incorporated under the
                    laws of
                    Macau and the wholly-owned subsidiary of Elixir.

                
	 	 	 
	
                  “Designated
                    Members”

                	 	
                  means
                    : any casino (and includes where applicable the owner or operator
                    (or
                    their respective agents) of any such venue) in Macau that operates
                    under
                    the concession granted by the Macau government to SJM or any
                    sub-concession granted by SJM; and any other casino if SJM, STDM,
                    Melco or
                    the Melco-PBL JV have a direct or indirect legal or beneficial
                    interest of
                    at least 19.9% of the equity interest in the entity that owns,
                    manage or
                    operates that casino. 

                

        

         

        
          
            ***
              Confidential Treatment Requested

            
            

          

          
            1

            
              

            

          

          
            
            

          

        

         

        
          	
                  “Exclusive
                    Territory”

                	 	
                  means
                    Asia and any Designated Member no matter where located (subject
                    however to
                    clause 1.1 below).

                
	 	 	 
	
                  “Group”

                	 	
                  means,
                    in relation to any party, any subsidiary, associated company
                    or holding
                    company of the relevant party or any subsidiary or associated
                    company of
                    such holding company from time to time and “associated
                    company”
                    shall mean a company in which the relevant party and/ or its
                    holding
                    company has an interest (whether directly or indirectly and whether
                    aggregate or otherwise) of not
                    less than 20%

                
	 	 	 
	
                  “Hong
                    Kong” 

                	 	
                  means
                    Hong Kong Special Administrative Region of the People’s Republic of
                    China

                
	 	 	 
	
                  “Intellectual
                    Property Rights”
                    

                	 	
                  means
                    patents, trade marks, service marks, design rights (whether registrable
                    or
                    otherwise), applications for any of the foregoing, copyright,
                    know-how,
                    trade or business names and other similar rights or obligations
                    whether
                    registrable or not in any part of the world.

                
	 	 	 
	
                  “Melco”

                	 	
                  means
                    Melco International Development Limited

                
	 	 	 
	
                  “Melco
                    PBL JV”

                	 	
                  means
                    the joint venture established between Melco and Publishing and
                    Broadcasting Limited for pursuance of gaming, hospitality and
                    entertainment businesses in Asia

                
	 	 	 
	
                  “Macau”

                	 	
                  means
                    Macau Special Administrative Region of the People’s Republic of
                    China

                
	 	 	 
	
                  “Product(s)”
                    or “Service(s)”
                    

                	 	
                  respectively
                    has the meaning as ascribed thereto in Clause
                    1.1 and

                
	
                  or
                    “Products
                    & Services”

                	 	
                  Schedule
                    1 hereto

                
	 	 	 
	
                  “Representative”

                	 	
                  means
                    Elixir and its subsidiaries from time to time, which include,
                    but without
                    limitation to, Elixir (Macau)

                
	 	 	 
	
                  “Retail
                    Prices”

                	 	
                  means
                    the sales prices of the Products & Services determined by the
                    Representative for selling or providing the same to the clients
                    in the
                    Territory in accordance with Clause
                    3.4(d) below
                    .

                

        

         

        
          
            ***
              Confidential Treatment Requested

            
            

          

          
            2

            
              

            

          

          
            
            

          

        

         

        
          	
                  “Sales
                    Target”

                	 	
                  means
                    the total target sales of the Principal’s chips in the Exclusive Territory
                    in terms of the Retail Prices of the Principal’s chips to be achieved by
                    the Representative during the Initial Term as more particularly
                    set out in
                    Schedule
                    2 hereto.

                
	 	 	 
	
                  “SJM”

                	 	
                  means
                    Sociedade de Jogos de Macau, S.A.

                
	 	 	 
	
                  “STDM”

                	 	
                  means
                    Sociedade de Turismo e Diversoes de Macau, S.A.

                
	 	 	 
	
                  “Term”

                	 	
                  means
                    the term of this Agreement which is more specifically defined
                    in
                    Clause
                    2.1 below and
                    “Initial
                    Term” has
                    the meaning as ascribed thereto in Clause
                    2.1

                
	 	 	 
	
                  “Wholesale
                    Prices”

                	 	
                  means,
                    for the purposes of this Agreement, the ex-factory cost price(s)
                    of the
                    Products & Services representing the labour and material costs and the
                    allocation of factory overhead costs and the administrative overhead
                    costs
                    that the Principal has actually incurred or accrued in accordance
                    with
                    generally accepted accounting principles, consistently applied,
                    in
                    manufacturing the Products and/ or providing the Services on
                    an open book
                    basis. The Wholesale Prices of the Products & Services as at the date
                    hereof are set out in Schedule
                    1 hereto 

                

        

      

       

      
        	1.	
                Appointment
                  of Exclusive
                  Representative

              

      

       

      
        	
                1.1

              	
                Subject
                  to the terms and conditions of this Agreement, the Principal hereby
                  appoints the Representative and the Representative hereby accepts
                  such
                  appointment, as its sole and exclusive agent for promoting, selling
                  or
                  distributing its products and/ or services as more particularly
                  mentioned
                  in Schedule
                  1 hereto
                  (individually “Product(s)”
                  or
                  “Service(s)”
                  and collectively referred to as “Products
                  & Services”)
                  to clients or potential clients in the Exclusive Territory. If
                  the
                  Representative fails to achieve during two consecutive 12 month
                  periods
                  from the date hereof a pro rata portion of the Sales Target, then
                  Principal shall have the right by 60 days prior written notice
                  to Elixir
                  to terminate the exclusive distribution rights of Representative
                  in Asia
                  and convert Representative’s distribution rights hereunder to a
                  non-exclusive distribution right in Asia and an exclusive distribution
                  right to Designated Member only and in such case, the term “Exclusive
                  Territory”
                  used hereunder shall refer to Designated Member only. The parties
                  agree
                  that if necessary, they will re-negotiate and agree in good faith
                  about
                  the respective rights and obligations of the parties under clauses
                  1.2, 1.3 and 1.4
                  for the purposes of giving effect to the non-exclusive distributorship
                  rights of the Representative in Asia should such conversion occur.
                  For
                  illustration and the avoidance of doubt, a pro ratable portion
                  of the
                  Sales Target in the vent of a five year Initial Term shall be US$4
                  million
                  per 12 month period. In case the Representative’s distributorship rights
                  in Asia has been converted into a non-exclusive rights due to its
                  failure
                  to achieve the pro rata portion of the Sales Target for any two
                  consecutive 12 month periods but the Representative has successfully
                  achieved the overall Sales Target for the Initial Term, this Agreement
                  shall be renewed pursuant to clause 2.1 with the Representative
                  being
                  granted with the exclusive distributorship rights in Asia and to
                  the
                  Designated Member again for the renewal period. Notwithstanding
                  anything
                  to the contrary contained herein, save and except for the rights
                  of the
                  Principal to convert the Representative’s distributorship rights in Asia
                  from an exclusive basis to an non-exclusive basis, any non-achievement
                  of
                  the pro-rata portion of Sales Target during any two consecutive
                  12 month
                  periods by the Representative per se will not entitle the Principal
                  to
                  claim for any compensation or damages
                  hereunder.

              

      

       

      
        
          ***
            Confidential Treatment Requested

          
          

        

        
          3

          
            

          

        

        
          
          

        

      

       

      
        	1.2	
                During
                  the Term of this Agreement, and subject to any change of the meaning
                  of
                  the term “Exclusive
                  Territory”
                  as mentioned in clause 1.1, the Principal undertakes that it will
                  not, and
                  will ensure that any member of the Principal’s Group, will not
                  :

              

      

       

      
        	 	
                (a)

              	
                appoint
                  any other third party as reseller, distributor or agent (whether
                  on an
                  exclusive basis or not) of similar rights or functions as conferred
                  on the
                  Representative hereunder in respect of the Products & Services in the
                  Exclusive Territory; or

              

      

      
        	 	
                (b)

              	
                either
                  solely or jointly with or on behalf of any other person directly
                  or
                  indirectly promote, sell or distribute the Products & Services in the
                  Exclusive Territory or procure, solicit or accept any purchase
                  order for
                  the Products & Services from any persons in the Exclusive Territory
                  except upon mutual agreement of the parties on a case by case
                  basis;
                  or

              

      

      
        	 	
                (c)

              	
                accept
                  any purchase order for the Products & Services from any persons in
                  wherever countries, regions or territories who, to the reasonable
                  belief
                  and / or knowledge of the Principal and/ or the relevant member
                  of its
                  Group, at the time of placing such order has intention to resell,
                  lease,
                  license or otherwise part with the possession of the relevant Products
                  & Services to other persons in the Exclusive Territory;
                  or

              

      

      
        	 	
                (d)

              	
                directly
                  or indirectly sell, provide or offer for sale or provide the Products
                  & Services to any persons in the Exclusive Territory or meant for
                  an
                  end user within the Exclusive Territory,

              

      

      

      except
        through the Representative.

      

      
        	
                1.3

              	
                For
                  the avoidance of doubt, during the Term of this Agreement, and
                  subject to
                  any change of the meaning of the term “Exclusive
                  Territory”
                  as mentioned in clause 1.1, the Principal shall refer all clients
                  or
                  potential clients of the Products & Services in the Exclusive
                  Territory that come to its attention or the attention of any member
                  of its
                  Group to the Representative for handling.

              

      

      

      
        
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          4

          
            

          

        

        
          
          

        

      

       

      
        	1.4	
                During
                  the Term of this Agreement, and subject to any change of the meaning
                  of
                  the term “Exclusive
                  Territory”
                  as mentioned in clause 1.1, the Representative undertakes that
                  it will
                  not, and will ensure that any member of the Representative’s Group, will
                  not :

              

      

       

      
        	
              	(a)	
                appoint
                  any other third party as reseller, distributor or agent (whether
                  on an
                  exclusive basis or not) of similar rights or functions as conferred
                  on the
                  Principal hereunder in respect of the Products & Services outside the
                  Exclusive Territory; or

              

      

       

      
        	
              	(b)	
                either
                  solely or jointly with or on behalf of any other person directly
                  or
                  indirectly promote, sell or distribute the Products & Services outside
                  the Exclusive Territory or procure, solicit or accept any purchase
                  order
                  for the Products & Services from any persons outside the Exclusive
                  Territory except upon mutual agreement of the parties on a case
                  by case
                  basis;
                  or

              

      

       

      
        	
              	(c)	
                accept
                  any purchase order for the Products & Services from any persons in the
                  Exclusive Territory who, to the reasonable belief and/or knowledge
                  of the
                  Representative and/ or the relevant member of its Group, at the
                  time of
                  placing such order has intention to resell, lease, license or otherwise
                  part with the possession of the relevant Products & Services to other
                  persons outside the Exclusive Territory;
                  or

              

      

       

      
        	
              	(d)	
                directly
                  or indirectly sell, provide or offer for sale or provide the Products
                  & Services to any persons outside the Exclusive Territory or meant
                  for
                  an end user outside the Exclusive Territory,

              

      

      

      except
        through the Principal.

      

      
        	
                1.5

              	
                For
                  the avoidance of doubt, during the Term of this Agreement, the
                  Representative shall refer all clients or potential clients of
                  the
                  Products & Services outside the Exclusive Territory that come to its
                  attention or the attention of any member of its Group to the Principal
                  for
                  handling. 

              

      

      

      
        	
                1.6

              	
                The
                  Representative hereby agrees with the Principal that during the
                  Term
                  hereof, the Representative and any member of Representative’s Group, shall
                  not promote, sell or distribute any products or services that are
                  competitive with the Products and Services from any supplier, distributor
                  or manufacturer in the Exclusive Territory except from the Principal.
                  For
                  the sake of clarity, the Principal shall be the exclusive supplier
                  of
                  Products and Services, (or any other equipment similar to or competitive
                  with the Products and Services,) to Representative or any member
                  of
                  Representative’s Group for promotion, sale or distribution in the
                  Exclusive Territory.

              

      

      

      
        	2.	
                Term
                  of Agreement

              

      

      

      
        	2.1	
                Unless
                  otherwise terminated pursuant to the terms hereof, this Agreement
                  shall
                  continue and remain in force for an initial period of five years
                  (subject
                  to Clause
                  2.2 below)
                  (“Initial
                  Term”)
                  from the date hereof and thereafter, subject to the Representative
                  having
                  achieved the relevant Sales Target during the Initial Term, shall
                  be
                  automatically renewed on the same terms and conditions for a further
                  period of fifteen years. Subject to any earlier termination hereof,
                  the
                  Initial Term period together with any subsequent renewal thereof
                  shall
                  collectively be referred to as the “Term”.
                  

              

      

       

      
        
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          5

          
            

          

        

        
          
          

        

      

       

      
        	2.2	
                In
                  the event of any material breach or continuing material breach
                  (where
                  the breach is capable of remedy and the Principal has received
                  written
                  notice of the breach, but the Principal has failed to remedy the
                  same
                  within thirty days of written notice)
                  of
                  any terms, undertakings or warranties of this Agreement by the
                  Principal
                  at any time during the Initial Term (the “Questionable
                  Period”),
                  the Representative may, without prejudice to its other rights and
                  remedies
                  under this Agreement, by written notice to the Principal requiring
                  the
                  Initial Term of this Agreement to be extended by a further twelve
                  months
                  and for the purposes of determining whether or not the Representative
                  has
                  met the Sales Target, the Initial Term shall be deemed as six years
                  from
                  the date hereof and the Sales Target will remain unchanged notwithstanding
                  the said adjustment to the Initial
                  Term.

              

      

      

      
        	
                2.3

              	
                If
                  the overall Sales Target for the Initial Term is not met, then
                  unless
                  otherwise agreed by the Principal, this Agreement shall terminate
                  upon the
                  expiration of the Initial Term. Save for the rights on the part
                  of the
                  Principal to refuse an extension of this Agreement beyond the Initial
                  Term, any non-achievement of the Sales Target by the Representative
                  per se
                  will not entitle the Principal to claim for any compensation or
                  damages
                  hereunder.

              

      

      

      
        	3.	
                Obligations
                  of the Parties

              

      

       

      
        	
                3.1

              	
                The
                  Representative shall be responsible for using its commercially
                  reasonable
                  endeavours to:

              

      

       

      
        	
              	(a)	
                promote
                  and market (with the assistance of such materials and/ or support
                  provided
                  by the Principal as mentioned in Clause
                  3.2 below)
                  the Products & Services in the Exclusive Territory in
                  the same manner as it deals with the sale of its own product
                  range;
                  

              

      

       

      
        	
              	(b)	
                sell,
                  distribute and solicit purchase order for the Products & Services to
                  and for clients in the Exclusive Territory;

              

      

       

      
        	
              	(c)	
                at
                  such time as the Representative deems appropriate, provide maintenance
                  and
                  support services of the Products (including but not limited to
                  telephone
                  support and on-site checking) in the Exclusive Territory; and
                  

              

      

       

      
        	
              	(d)	
                collect
                  the relevant prices and charges of the Products & Services from
                  clients in the Exclusive Territory.

              

      

      

      
        	
                3.2

              	
                The
                  Principal shall be responsible for:

              

      

       

      
        	 	
                (a)

              	
                providing
                  all reasonable assistance to the Representative in connection with
                  its
                  performance of the obligations stated in Clause
                  3.1 above
                  in
                  a professional manner and in a timely fashion and which includes
                  but not
                  limited to :

              

      

       

      
        
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          6

          
            

          

        

        
          
          

        

      

       

      
        	 	
                (i)

              	
                the
                  provision of reasonably adequate training to employees of the
                  Representative so as to enable them to understand the functionalities
                  and/
                  or components of the Products & Services and the correct operation
                  and/ or maintenance of the same;

              

      

       

      
        	
              	(ii)	
                preparation
                  and provision of relevant marketing materials provided that the
                  Representative shall have absolute discretion to determine whether
                  to
                  adopt the same or not; and

              

      

       

      
        	
              	(iii)	
                arrangement
                  and presentation of relevant demonstration of the Products & Services
                  to clients or potential clients identified by the Representative
                  in the
                  Exclusive Territory.

              

      

      

      
        	3.3	
                Unless
                  otherwise agreed by the parties in writing, the parties acknowledge
                  and
                  agree that :

              

      

       

      
        	 	
                (a)

              	
                each
                  party shall bear its own costs and expenses and provide all staff
                  or
                  labour for performing its obligations in Clauses
                  3.1 and 3.2 above;

              

      

      
        	 	
                (b)

              	
                the
                  respective representatives of the parties shall meet at regular
                  intervals
                  (whether in person or by telephone conference) to discuss the market
                  conditions and requirements for the Products & Services in the
                  Exclusive Territory and if necessary, to review and adjust the
                  Wholesale
                  Prices and/ or the indicative price range of the Retail Prices
                  as
                  suggested by the Principal from time to time or on a case by case
                  basis,
                  with a view to facilitating the sales and promotion of the Products
&
                  Services in the Exclusive Territory;

              

      

      
        	 	
                (c)

              	
                neither
                  party shall make any public announcement on purchase order secured
                  by the
                  Representative or on details of work covered by such purchase order
                  without the other’s prior written approval (such approval not to be
                  unreasonably withheld), except as required by law provided that
                  in such
                  case, the party which is subject to such legal requirement shall
                  forthwith
                  inform the other party in writing of the contents and timing of
                  the
                  required disclosure; and

              

      

      
        	 	
                (d)

              	
                each
                  party shall promptly inform the other if it comes to its attention
                  that
                  the Products & Services may have infringed the Intellectual Property
                  Rights of a third party.

              

      

      

      
        	3.4	
                In
                  addition to the above, the Principal agrees and/ or confirms that
                  :

              

      

      

      
        	
              	(a)	
                during
                  the Term of this Agreement, and subject to any change of the meaning
                  of
                  the term “Exclusive
                  Territory” as
                  mentioned in clause 1.1, it will include as a condition of sales
                  in the
                  relevant sales and purchase documentation restricting any of its
                  clients
                  in any other part of the world who purchase the Products after
                  the date of
                  this Agreement from reselling the same as second-hand products
                  to any
                  persons in the Exclusive Territory within a period of at least
                  18 months
                  from the date of delivery of the relevant
                  Products;

              

      

      
        	
              	(b)	
                during
                  the Term of this Agreement, it will shall keep the Representative
                  informed
                  of any changes to Products & Services and shall include the same as
                  the Products & Services covered by this Agreement and also it shall
                  keep the Representative informed of any change to the Wholesale
                  Prices
                  provided that in case of any material changes to the specifications
                  of the
                  existing Products & Services, any cessation of production or support
                  of any existing Products & Services or any increment to the Wholesale
                  Prices (provided that any such increment shall be reasonable in
                  the light
                  of the then prevailing market conditions and shall apply globally
                  to any
                  other distributors or agents of the Principal or its Group in other
                  part
                  of the world), the Principal shall give at least 60 days prior
                  written
                  notice to the Representative informing the same. For the avoidance
                  of
                  doubt, subject to the compliance of this sub-clause, the Principal
                  hereby
                  reserves the right to make any change to the specifications of
                  any
                  Products & Services or Wholesale Prices at any time and to discontinue
                  the manufacture or support of any Products & Services at any time
                  without incurring any obligation to the
                  Representative;

              

      

       

      
        
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          7

          
            

          

        

        
          
          

        

      

       

      
        	
              	(c)	
                the
                  Wholesale Prices that apply to the Representative shall not be,
                  to a
                  material extent, less favourable than the selling prices or charges
                  for
                  the same Products & Services quoted by the Principal or its Group to
                  any of their respective distributors or agents in other part of
                  the world;
                  and

              

      

      
        	
              	(d)	
                notwithstanding
                  anything to the contrary contained herein, the Representative shall
                  have
                  the rights to determine the Retail Price at its sole discretion
                  provided
                  that such Retail Prices must not be less than the lowest recommended
                  Retail Price within an indicative Retail Price range as may be
                  suggested
                  by the Principal from time to time or on a case by case basis.
                  When
                  determining the relevant indicative Retail Price range, the Principal
                  agree to make prior consultation with the Representative and take
                  into
                  account of factors related to the relevant order including but
                  not limited
                  to the quantity ordered by the client of the Representative, the
                  retail
                  prices offered by the Principal or its other distributor to their
                  respective clients outside the Exclusive Territory for comparable
                  quantity
                  ordered, and shall allow room for the Representative to grant reasonable
                  discount (whether by way of reduction in per unit price, rebate,
                  free unit
                  or otherwise) for bulk purchase by its clients in the Exclusive
                  Territory.

              

      

      

      
        	4.	
                Warranties
                  of the Parties

              

      

      

      
        	4.1	
                The
                  Principal hereby represents and warrants to the Representative
                  that
                  :

              

      

       

      
        	
              	(a)	
                it
                  possesses the requisite authority to enter into and perform its
                  obligations under this Agreement, in particular but not limited
                  to, it has
                  the full, free and unrestricted rights to appoint the Representative
                  as
                  its sole and exclusive agent in the Exclusive Territory and that
                  all the
                  rights granted to Representative hereunder will not infringe any
                  rights,
                  claims or authorisations of any third party;

              

      

      
        	 	
                (b)

              	
                the
                  Products & Services and the promotion, sale and distribution of the
                  same to clients or potential clients in the Exclusive Territory
                  by the
                  Representative under the terms of this Agreement will not infringe
                  any
                  Intellectual Property Rights or other proprietary rights of any
                  third
                  party; 

              

      

      
        	 	
                (c)

              	
                as
                  at the date hereof, the Principal or any of the member of its Group
                  is not
                  a party to any legal action or proceedings concerning the Intellectual
                  Property Rights of the Principal (or the relevant Group member(s))
                  in the
                  Products & Services or any part thereof and to the best knowledge of
                  the Principal, no claim has been made nor is there any such threatened
                  action or proceedings; and

              

      

       

      
        
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          8

          
            

          

        

        
          
          

        

      

       

      
        	 	
                (d)

              	
                save
                  for the appointment of the Representative hereunder, it or any
                  of its
                  Group member has not appointed any distributor or agent, whether
                  in the
                  Exclusive Territory or elsewhere, to promote, sell or distribute
                  the
                  Products & Services to any persons in the Exclusive
                  Territory.

              

      

      

      
        	4.2	
                The
                  Representative hereby represents, warrants and covenants to the
                  Principal
                  that it
                  possesses the requisite authority to enter into and perform its
                  obligations under this Agreement, on its own behalf and on behalf
                  of each
                  member of Representative’s Group, and in particular but not limited to the
                  covenant and representation that it has the full, free and unrestricted
                  rights to act as the sole and exclusive agent in the Exclusive
                  Territory
                  for promoting, selling or distributing the Products and Services,
                  and that
                  all the rights, if any, granted to Principal hereunder will not
                  infringe
                  any rights, claims or authorisations of any third
                  party.

              

      

      

      
        	4.3	
                The
                  Principal shall indemnify, defend and save harmless the Representative,
                  its Group and the directors, officers, employees, representatives
                  and
                  agents (either of the Representative or of any member of its Group)
                  from
                  and against all claims, lawsuits, losses and expenses arising out
                  of or
                  resulting from any breach or inaccuracy of the representations
                  or
                  warranties set out in Clause
                  4.1 above.

              

      

      

      
        	4.4	
                The
                  Representative shall indemnify, defend and save harmless the Principal,
                  its Group and the directors, officers, employees, representatives
                  and
                  agents (either of the Principal or of any member of its Group)
                  from and
                  against all claims, lawsuits, losses and expenses arising out of
                  or
                  resulting from any breach or inaccuracy of the representations
                  or
                  warranties set out in Clause
                  4.2 above.
                  

              

      

      

      
        	5.	
                Orders
                  and deliveries

              

      

       

      
        	
                5.1

              	
                Unless
                  otherwise agreed in writing by the parties hereto :
                  

              

      

      

      
        	
              	(a)	
                all
                  orders for the Products & Services by the Representative shall be in
                  writing using the format prescribed by the Principal (the “Order
                  Form(s)”)
                  and shall be communicated to the Principal by facsimile or email;
                  

              

      

      
        	
              	(b)	
                the
                  Order Forms shall contain details of the descriptions and quantities
                  of
                  the Products, scope of works of the Services, time line required
                  for
                  delivery which will incorporate allowance for published production
                  lead
                  times for each product, the designated port of delivery in the
                  Exclusive
                  Territory and the Wholesale Prices for the same;
                  

              

      

      
        	
              	(c)	
                acceptance
                  of the Representative orders for the Products & Services will be by
                  way of a written acknowledgement via facsimile or email from the
                  Principal
                  to the Representative confirming the Order
                  Forms;

              

      

       

      
        
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          9

          
            

          

        

        
          
          

        

      

       

      
        	
              	(d)	
                in
                  case any part of the Order Form (including but not limited to the
                  required
                  delivery time) cannot be accepted by the Principal, the Principal
                  shall
                  forthwith inform the Representative of the same and its proposal
                  with
                  regard to the particular issue and in such case, the original Order
                  Form
                  shall lapse and have no effect and the Representative shall be
                  required
                  either (i) to issue a fresh Order Form with amended terms; or (ii)
                  to
                  amend the original Order Form with the relevant personnel(s) of
                  the
                  Representative initialled thereon and re-send the same to the Principal
                  by
                  facsimile or email; 

              

      

      
        	
              	(e)	
                the
                  terms and conditions of each Order Form issued by the Representative
                  and
                  the terms of payment shall form part of this Agreement and the
                  terms of
                  this Agreement shall prevail in the event of any discrepancies
                  which may
                  arise between this Agreement and the relevant Order Forms or letter
                  of
                  credit as the case may be; 

              

      

      
        	
              	(f)	
                subject
                  to sub-clause
                  (g) and Clause 14.8 below,
                  time shall be of the essence in respect of the required delivery
                  time set
                  out in the accepted Order Form; and

              

      

      
        	
              	(g)	
                Unless
                  otherwise agreed by the parties in writing, all Products shall
                  be deemed
                  delivered to the Representative upon the same being delivered on
                  board the
                  vessels or aircrafts at the shipping port or flight terminal of
                  the
                  manufacturing place of the Products and the title and risk of the
                  Products
                  shall also pass to the Representative upon the time of such deemed
                  delivery. 

              

      

      

      
        	5.2	
                Upon
                  acceptance of the Order Form by the Principal pursuant to Clause
                  5.1(c) above,
                  that Order Form shall become binding and shall not be subject to
                  cancellation or change by the Representative, either in whole or
                  in part
                  unless the request for cancellation or change is made by written
                  notice of
                  not less than 14 days after submission of the Order Form to the
                  Principal.
                  The Principal shall deliver the Products to the relevant shipping
                  port or
                  flight terminal on or before the delivery date set out in the Order
                  Form.
                  The Wholesale Prices for Products shall be quoted F.O.B. the shipping
                  port
                  or flight terminal of the manufacturing place of the
                  Products.

              

      

      

      
        	5.3	
                The
                  Principal agrees to use its best endeavours to accept all purchase
                  orders
                  issued by the Representative from time to
                  time.

              

      

      

      
        
          	5.4	
                  Following
                    delivery (or deemed delivery) of Products in respect of the first
                    and
                    second Order Forms, the Principal shall, at its costs, make a
                    senior
                    factory technician available to the Representative for a period
                    of up to
                    five (5) days each time to install the Products at the relevant
                    client’s
                    premises, and to teach the Representative’s technical personnel about the
                    mode of installation of the Product(s) and to conduct a general
                    Product
                    familiarisation programme for such technical personnel nominated
                    by the
                    Representative.

                

        

      

      

      
        	6.	
                Payment
                  Terms 

              

      

       

      
        	6.1	
                All
                  payments owed to Principal by Representative hereunder will be
                  settled by
                  way of an Irrevocable Letter of Credit in favour of the Principal
                  drawn on
                  a bank reasonably acceptable to the Principal or by wire transfer
                  directly
                  to the Principal’s account, unless otherwise agreed by the parties hereto
                  in writing. 

              

      

       

      
        
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        	6.2	
                The
                  Representative shall pay the Wholesale Price plus all shipping,
                  handling
                  and insurance costs, as applicable, to the Principal in the manner
                  prescribed by Clause 6.1 prior to shipment of the
                  Product.

              

      

      

      
        	6.3	
                On
                  the tenth day of each month (“Statement
                  Date”),
                  Representative shall send to Principal, via email to an email address
                  designated by Principal, a truthful and accurate written statement
                  (“Statement”)
                  of Representative’s sales for the previous monthly period, listing the
                  names and addresses of each of Representative’s customers (end-users), the
                  amount of each sale, and the total amount to be charged to customer
                  for
                  the Products and Services (if different from the sale price).
                  

              

      

      

      
        	6.4	
                Within
                  10 days from the Statement Date, the Representative shall pay to
                  the
                  Principal the Elixir Price for each of Representative’s sales for the
                  previous monthly period, minus the Wholesale Price for such Products
                  and
                  Services if the Wholesale Price has already been
                  paid.

              

      

      

      
        	6.5	
                As
                  to any Statements and payments to be made pursuant to this Agreement,
                  time
                  is of the essence.

              

      

      

      

      
        	7.	
                Intellectual
                  Property Rights 

              

      

       

      
        	
                7.1

              	
                Subject
                  to Clause
                  7.2 below,
                  the Representative acknowledges that any and all of the Intellectual
                  Property Rights used or embodied in or in a connection with the
                  Products
                  & Services or any other software, programs or materials independently
                  developed by the Principal and provided to the Representative or
                  its
                  clients during the Term is and shall remain the property of the
                  Principal
                  and/ or its Group unless otherwise indicated in writing by the
                  Principal.

              

      

      

      
        
          	7.2	
                  The
                    parties agree that during their respective performances of any
                    obligations
                    herein, all of the Intellectual Property Rights used or embodied
                    in any
                    software, programs or materials
                    :

                

        

      

      

      
        
          	
                	(a)	
                  developed
                    by the Principal and/ or the Representative and such software,
                    programs or
                    materials form an integral part or components of the Products
&
                    Services, shall belong to and remain the absolute property of
                    the
                    Principal; and

                

        

      

      
        	
              	
                (b)

              	
                developed
                  solely by the Representative and such software, programs or materials
                  can
                  be used or operated independently from the Products and/ or Services
                  or
                  any part of any of them, shall belong to and remain the absolute
                  property
                  of the Representative;

              

      

       

      provided
        that
        :

      

      
        	 	
                (i)

              	
                in
                  case the owner of the relevant Intellectual Property Rights is
                  the
                  Principal, the Principal shall grant a non-transferable license
                  at no cost
                  to the Representative for a term lasting until the termination
                  of this
                  Agreement to use the relevant newly developed software, programs
                  or
                  materials as such use is to facilitate the promotion, selling and
                  distribution of the Products & Services by the Representative in the
                  Exclusive Territory;

              

      

       

      
        
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          11

          
            

          

        

        
          
          

        

      

       

      
        	 	
                (ii)

              	
                in
                  case the owner of the relevant Intellectual Property Rights is
                  the
                  Representative, the Representative shall grant : (aa) a non-transferable
                  license at no cost to the Principal for a term lasting until the
                  termination of this Agreement to use the relevant newly developed
                  software, programs or materials as such use is to facilitate the
                  promotion, selling and distribution of the Products & Services by the
                  Representative in the Exclusive Territory; and (bb) a non-transferrable
                  license at such license fee to be agreed between the parties, to
                  the
                  Principal for a term lasting until the termination of this Agreement
                  to
                  use the relevant newly developed software, programs or materials
                  as such
                  use is to facilitate the promotion, selling and distribution of
                  the
                  Products & Services by the Principal or its other distributors in any
                  place outside the Exclusive Territory;
                  and

              

      

      
        	 	
                (iii)

              	
                after
                  termination of this Agreement, if the Principal so requires, the
                  Representative shall on terms which are not more onerous than the
                  terms of
                  the original license mentioned in section
                  (bb) of sub-clause (ii) above,
                  grant an extension of such license to the Principal for such duration
                  to
                  be agreed.

              

      

      

      
        	7.3	
                Both
                  parties agree to execute such further documents and to do all such
                  acts as
                  shall be reasonably required under the relevant circumstances to
                  effectively carry out the terms set out in Clause
                  7.2 above
                  in
                  any relevant jurisdiction.

              

      

      

      
        	
                7.4

              	
                During
                  the Term of this Agreement, the Representative shall have the rights
                  to
                  use the Principal’s trademarks in promoting the sales of Products &
                  Services in the Exclusive
                  Territory.

              

      

      

      
        	
                7.5

              	
                The
                  Representative agrees to comply with the instructions issued by
                  the
                  Principal relating to the form and manner in which the Principal’s trade
                  name and trademarks are used.

              

      

      

      
        	
                7.6

              	
                The
                  Representative agrees to discontinue upon notice from Principal
                  any
                  practice or use of the trademarks that might adversely affect the
                  rights
                  or interest of the Principal in its
                  trademarks.

              

      

      

      
        	8.	
                Products
                  warranty

              

      

       

      
        	
                8.1

              	
                All
                  Products supplied by the Principal shall carry return to factory
                  warranty
                  against faulty parts manufacture and workmanship. Such warranty
                  period
                  shall commence upon shipment and last for ten years. The said warranty
                  will not apply to consumables, fair wear and tear or wilful damage.
                  

              

      

      

      
        	
                8.2

              	
                THE
                  PARTIES ACKNOWLEDGE THAT THE PRINCIPAL MAKES NO WARRANTIES OR
                  REPRESENTATIONS, INCLUDING BUT WITHOUT LIMITATION TO IMPLIED WARRANTIES
                  OF
                  MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE, AS TO THE
                  PRODUCTS
                  SOLD TO THE REPRESENTATIVE EXCEPT FOR THE PRODUCTS WARRANTY STATED
                  IN OR
                  AS MAY BE SET FORTH IN OTHER CONSUMER WARRANTY PROVIDED BY THE
                  PRINCIPAL
                  IN SEPARATE WRITING, IF ANY, ACCOMPANYING DELIVERY OF THE
                  PRODUCTS.

              

      

       

      
        
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                8.3

              	
                THE
                  LIABILITY OF THE PRINCIPAL, IF ANY, FOR DAMAGES RELATING TO ANY
                  ALLEGEDLY
                  DEFECTIVE PRODUCTS OR ANY BREACH OF WARRANTY OR CONDITION IN RELATION
                  TO
                  THE PRODUCTS WILL BE LIMITED TO, AT THE REPRESENTATIVE’S DISCRETION,
                  REPLACEMENT OF THE PRODUCTS OR REFUND OF THE ACTUAL PRICE PAID
                  FOR SUCH
                  PRODUCTS.

              

      

      

      
        	9.	
                Termination

              

      

       

      
        	9.1	
                Either
                  party shall be entitled to terminate this Agreement by serving
                  immediate
                  written notice to the other if:-

              

      

       

      
        	 	
                (a)

              	
                the
                  other party is in material breach of any terms of this Agreement
                  and,
                  where the breach is capable of remedy, the other party has failed
                  to
                  remedy the breach within
                  30 days
                  of
                  the date of a written notice from the non-defaulting party specifying
                  the
                  breach and requiring its remedy; or

              

      

      
        	
              	(b)	
                the
                  other party goes into liquidation (except for the purpose of a
                  bona fide
                  reconstruction or amalgamation) or bankruptcy or it shall become
                  insolvent
                  or enter into any composition or scheme of arrangement with its
                  creditors;
                  or.

              

      

      
        	
              	(c)	
                pursuant
                  to Clause
                  16.4 below.

              

      

      

      
        
          	9.2	
                  In
                    addition to Clause
                    9.1,the
                    Representative shall be entitled to terminate this Agreement
                    without cause
                    by giving 30 days advance notice in writing to the
                    Principal.

                

        

      

      

      
        	9.3	
                Each
                  party acknowledges that the breach of certain provisions of this
                  Agreement
                  may cause irreparable harm to the other for which monetary damages
                  may be
                  difficult to ascertain or an inadequate remedy. Each party therefore
                  agrees that the other will have the right, in addition to its other
                  rights
                  and remedies, to seek and obtain an order for specific performance
                  or
                  injunctive relief.

              

      

      

      
        	10.	
                Obligations
                  and rights following
                  termination

              

      

       

      
        	10.1	
                Upon
                  termination of this Agreement for any reason or expiration of the
                  Term:

              

      

       

      
        	 	
                (a)

              	
                each
                  party shall return all Confidential Information (as defined in
                  Clause
                  11 below)
                  which belong to the other party;
                  and

              

      

      
        	 	
                (b)

              	
                the
                  Representative shall cease promoting, selling and distributing
                  the
                  Products & Services and shall cease using the Principal’s trade name
                  and trademarks.

              

      

      

      
        	
                10.2

              	
                Any
                  termination or expiration of this Agreement shall be without prejudice
                  to
                  any rights or liabilities of either party to the other party accrued
                  at
                  the date of termination or expiration or in respect of any breach
                  of the
                  other party of any conditions herein contained or any amount owing,
                  due or
                  payable under this Agreement. 

              

      

       

      
        
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                    10.3

                  	
                    Any
                      terms or conditions of this Agreement which are capable of
                      having effect
                      after the termination or expiration of this Agreement shall
                      remain in full
                      force and effect following the termination or expiration of
                      this
                      Agreement.

                  

          

           

        

      

      
        	
                10.4

              	
                Within
                  14
                  days
                  after any termination or expiration of this Agreement, the Representative
                  shall by written notice inform the Principal of its stock of the
                  Products
                  on hand at the time of such termination or expiration and the Principal
                  agrees to repurchase the same at the original Wholesale Prices
                  thereof
                  from the Representative and pay the Representative for the same
                  within
                  one
                  month
                  from the date of such notice. All transportation and insurance
                  costs for
                  such repurchase shall be borne by the Principal unless the termination
                  is
                  due to a breach of this Agreement by the Representative and the
                  relevant
                  Products shall be deemed delivered by the Representative to the
                  Principal
                  at the relevant shipping port or flight terminal in the Exclusive
                  Territory as notified by the Representative.

              

      

      

      
        
          
            	11.	
                    Confidentiality

                  

          

           

        

      

      
        	
                11.1

              	
                Each
                  of the Principal and the Representative hereby agrees and undertakes
                  to
                  the other party that during the subsistence of this Agreement and
                  for a
                  period of two
                  (2) years thereafter,
                  it will keep confidential and will not use for its own purposes
                  or without
                  the prior written consent of the other party disclose to any third
                  party
                  any and all information concerning the terms of this Agreement
                  or the
                  business, affairs or trade secrets of the other party or its Group
                  members
                  which is confidential and proprietary to that disclosing party
                  (collectively “Confidential
                  Information”)
                  and which may become known as a result of the performance of this
                  Agreement. This Clause shall not however apply to
                  :

              

      

      

      
        	 	
                (a)

              	
                disclosures
                  required by law, statutory bodies or regulatory authorities;
                  or

              

      

      
        	 	
                (b)

              	
                disclosures
                  to employees, agents or contractors who have a need to know and
                  only to
                  the extent necessary for each of them to perform his
                  duties;

              

      

      
        	 	
                (c)

              	
                disclosure
                  or use of any information which is in or enters the public domain
                  other
                  than by breach of this Agreement;

              

      

      
        	 	
                (d)

              	
                disclosure
                  or use of any information which is independently developed by the
                  relevant
                  party as evidenced by written records;
                  or

              

      

      
        	 	
                (e)

              	
                disclosure
                  or use of any information which is received in good faith by one
                  party
                  from a third party not subject to a duty of confidentiality.
                  

              

      

      

      
        	
                11.2

              	
                Each
                  party undertakes to the other to take all reasonable steps as shall
                  from
                  time to time be necessary to ensure compliance with the provisions
                  of this
                  Clause by its (and/ or its Group members’) employees, agents and
                  sub-contractors.

              

      

      

      
        	11.3	
                For
                  the avoidance of doubt :

              

      

       

      
        
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                (a)

              	
                The
                  parties agree that the
                  contact details
                  of
                  any client or any potential client that has been procured, solicited
                  or
                  contacted by Representative and which details or information have/has
                  come
                  to the possession of the Principal and/ or the Representative during
                  the
                  Term shall not be regarded as part of the Confidential Information
                  and the
                  relevant party who possess the same shall be free to use such details
                  or
                  information for pursing its own business after
                  the termination or expiration of this Agreement subject
                  always
                  to
                  the compliance with the obligations in this Clause
                  11
                  in
                  respect of the Confidential Information of the other party and
                  in
                  Clause
                  13 below
                  in
                  respect of Non-Competition. 

              

      

      
        	 	
                (b)

              	
                The
                  Representative acknowledges that for regulatory purposes the Principal
                  is
                  required to maintain information concerning the original end user
                  of the
                  Products sold by the Representative and the Representative agrees
                  to
                  cooperate with Principal in supplying this information provided
                  that the
                  extent of such information as required by the Principal must not
                  exceed
                  the relevant regulatory requirement and if so required by the
                  Representative, the Principal shall provide reasonable supporting
                  documents of such regulatory
                  requirement.

              

      

      

      
        	11.4	
                Neither
                  party shall make any public announcement on the execution, existence
                  or
                  terms of this Agreement without the other’s prior written approval (such
                  approval not to be unreasonably withheld), except as required by
                  law
                  provided that in such case, the party which is subject to such
                  legal
                  requirement shall forthwith inform the other party in writing of
                  the
                  contents and timing of the required
                  disclosure.

              

      

      

      
        	12.	
                Non-Solicitation

              

      

       

      Except
        with the express written consent by the other party, each party covenants
        with
        the other that it will not and ensure none of the members of its Group will,
        during the Term of this Agreement and for a period of two years thereafter,
        on
        its own behalf or on behalf of any person, firm or company, directly or
        indirectly endeavour to entice away from the other party and/or employ any
        person who is or was the other party’s employee or who has at any time during
        the two-year period immediately preceding the termination or expiration of
        this
        Agreement been employed or engaged by the other party.

      

      
        	13.	
                Non-Competition

              

      

       

      The
        Principal covenants with the Representative that it will not and will ensure
        that none of the members of its Group will, within the Exclusive Territory,
        and
        during the Term of this Agreement , either alone or jointly with or as manager,
        agent, consultant or employee of any person, firm or company, directly or
        indirectly, carry on or be engaged in any activity or business for or in
        connection with the promotion, sales, distribution or provision of the Products
        & Services or restrict the rights of the Representative from doing business
        at the same time.

       

      
        
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        	14.	
                Miscellaneous

              

      

       

      
        	
                14.1

              	
                Any
                  written notice required to be given hereunder or request, demand
                  or other
                  communication under this Agreement or in connection herewith may
                  be given
                  by facsimile or email, by personal delivery or by sending the same
                  by
                  pre-paid post to the office address stated above or other address
                  notified
                  to the other. For the purpose of this Agreement, the facsimile
                  number and
                  the email address of the respective parties are as follows :
                  

              

      

       

      
        	
                The
                  Principal 

              	
                Mark
                  R Newburg

              
	
                Facsimile
                  no.

              	: +1 702-617-4737   
	
                Email
                  address

              	:
                mnewburg@vendingdata.com 

      

      .   

      
        
          	
                  The
                    Representative

                	
                  
                    Gordon
                      Yuen 

                  

                
	
                  Facsimile
                    no.

                	: (853)755 165  
	
                  Email
                    address

                	:
                  gordonyuen@elixir.com.hk

        

      

       

      
        	
                14.2

              	
                Any
                  notice so given pursuant to Clause
                  14.1 above
                  shall be deemed to have been served at the time the facsimile or
                  email is
                  recorded as sent, at the time of personal delivery or on the 5th
                  day after the day on which it was
                  posted.

              

      

      

      
        	
                14.3

              	
                This
                  Agreement sets forth the entire understanding and agreement between
                  the
                  parties with respect to the subject matter herein, and supersedes
                  and
                  cancels any prior or otherwise oral or written, expressed or implied
                  agreements, warranties or representations, if any, between the
                  parties
                  hereto. No party shall make any amendment or modification to the
                  terms of
                  this Agreement unless the same is in writing and signed by the
                  other
                  party.

              

      

      

      
        	
                14.4

              	
                Neither
                  party may assign, sub-contract, or delegate all or any part of
                  its rights
                  or obligations pursuant to this Agreement without the prior written
                  consent of the other.

              

      

      

      
        	14.5	
                All
                  headings to clauses herein are inserted for convenience only and
                  shall not
                  affect the construction of this Engagement. Words importing the
                  singular
                  number shall include the plural and vice versa and a gender shall
                  include
                  all genders and the neuter.

              

      

      

      
        	14.6	
                If
                  any one or more of the provisions of this Agreement shall be held
                  to be
                  invalid, illegal or unenforceable, the validity, legality and
                  enforceability of the remaining provisions shall not in any way
                  be
                  affected or impaired thereby.

              

      

      

      
        	
                14.7

              	
                The
                  Representative is an independent contractor of the Principal. Nothing
                  in
                  this Agreement shall be construed as creating a partnership or
                  joint
                  venture relationship between the
                  parties.

              

      

      

      
        	
                14.8

              	
                No
                  party hereto will be liable for any failure or delay in performance
                  hereunder other than to make payment of the amounts due as a result
                  of any
                  contingency beyond its reasonable control including but not limited
                  to
                  acts of God, fires, floods, wars, sabotage, lockouts, labour disputes
                  or
                  any other labour difficulties, any legislations, government rules
                  or
                  regulations, inability to obtain supplies, energy, raw materials,
                  product,
                  equipment or transportation and any other similar or different
                  contingency. The party suffering the inability to perform will
                  notify the
                  other party of the existence of such delay within 7 days of the
                  first day
                  of such delay that comes to its knowledge and in such event the
                  time for
                  performance hereunder (except to make payment of amounts due) will
                  be
                  extended for a period equalling the total period of such
                  delay.

              

      

       

      
        
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                14.9

              	
                Any
                  failure to either party to enforce at any time or for any period
                  of time
                  any of the provisions under this Agreement will not be construed
                  as a
                  waiver of such provisions or of the right of such party thereafter
                  to
                  enforce each and every provision under this
                  Agreement.

              

      

      

      
        	15.	
                Governing
                  Law

              

      

       

      This
        Agreement shall be governed by the laws of the State of Nevada, USA, except
        for
        conflicts of law provisions. The parties submit to the exclusive jurisdiction
        of
        the courts of Nevada.

      

      
        	
                16.

              	
                Gaming
                  Regulations

              

      

      

      
        	
                16.1

              	
                Regulated
                  Industry. The parties acknowledge that gaming is a highly regulated
                  industry throughout the world, and that both parties wish to comply
                  with
                  the gaming regulations of any legitimate
                  jurisdiction.

              

      

      

      
        	
                16.2

              	
                Compliance
                  Program. Each Party and its Group members are licensed by or otherwise
                  may
                  be subject to the authority of various casino and gaming regulatory
                  agencies (“Regulators”). Each Party has adopted, if applicable, a
                  regulatory compliance policy, and each Party agrees to provide
                  the other
                  Party with such documentation, information and assurances regarding
                  itself, any principal employees, directors, officers, brokers,
                  agents or
                  others as may be reasonably necessary in order for each party to
                  comply
                  with the other party’s regulatory compliance policy and with the requests
                  or requirements of any Regulator. 

              

      

      

      
        	
                16.3

              	
                Due
                  Diligence. Representative shall, upon request of Principal, complete
                  Principal’s due diligence forms to Principal’s sole satisfaction
                  certifying Representative’s compliance with relevant gaming laws and
                  regulations and shall update such forms when reasonably requested
                  to do so
                  by Principal and at least annually (if so required by the applicable
                  laws
                  or regulations). Both prior to and after the execution of this
                  Agreement,
                  Principal shall have the right to perform due diligence on the
                  Representative or any of its approved sub-distributor in respect
                  of the
                  Products & Services as required by any gaming regulators in those
                  jurisdictions in which Principal is licensed. On an ongoing basis,
                  Representative (and any of its approved sub-distributors in respect
                  of the
                  Products & Services) shall be obligated to reasonably cooperate with
                  Principal related to such due
                  diligence.

              

      

       

      
        
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                16.4

              	
                Termination
                  For Regulatory Reasons. This Clause
                  16
                  is
                  a fundamental obligation of each party. This Agreement may be terminated
                  by either party immediately (without a cure period) after the occurrence
                  of the following events:

              

      

       

      
        	
              	(a)	
                a
                  finding by an appropriately empowered regulatory body, in the jurisdiction
                  of the relevant transaction or any other jurisdiction, that a Party
                  is not
                  suitable to be engaged in gaming
                  activities;

              

      

       

      
        	
              	(b)	
                an
                  order or recommendation by any Gaming Authority requiring or recommending
                  termination of this Agreement; or

              

      

       

      
        	
              	(c)	
                the
                  reasonable belief of one party that the continuation of this Agreement
                  may
                  have a detrimental impact on the ability of that party or any of
                  its Group
                  members to be qualified for, or to hold or maintain, any gaming
                  related
                  licenses, permits or approvals issued or to be issued by an Gaming
                  Authority,

              

      

       

      provided
        that the termination notice given by either party under this Clause
        16.4
        shall be
        accompanied by reasonable details in writing regarding any such finding,
        order
        or belief (as the case may be) and if the circumstances so allow and upon
        the
        request of the other party, the party which has relied on this provision
        in
        giving the termination notice shall, at the cost of the other party, assist
        the
        other party in contesting against the relevant finding or order or rebutting
        the
        relevant belief. 

      

      
        	17.	
                Additional
                  Products. Representative
                  agrees to evaluate in good faith the opportunity to distribute
                  those
                  products of Principal which are not included in the Products and
                  Services
                  listed in this Agreement, and to use its reasonable endeavours
                  to complete
                  its due diligence investigation of those products within six months
                  of the
                  execution of this Agreement.

              

      

      

      
        	
                Signed
                  on behalf of

              	 	
                Signed
                  on behalf of

              
	
                ELIXIR
                  GROUP LIMITED

              	 	
                VENDINGDATA
                  CORPORATION

              
	
                 

                By:

              	
                 

                /s/
                  Leon Van Tak

              	 	
                 

                By:

              	
                 

                /s/
                  Mark R. Newburg

              
	
                Name
                  :

              	
                Leong
                  Van Tak

              	 	
                Name:

              	
                Mark
                  R Newburg

              

      

       

      
        
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      Schedule
        1

      Descriptions
        of Products & Services

      

      Subject
        to the applicable references of this Agreement, set out below are the Products
        & Services and the Wholesale Price thereof as at the date of this Agreement
        :

       

      
        	
                Products

              	 	
                Wholesale
                  Price (per unit) 

              
	
                Principal’s
                  chips, and plaques (including RFID enabled chips and plaques) and
                  chip
                  washers and any
                  new products developed or sold by Principal that are not sold by
                  Principal
                  in direct competition with any product that the Representative
                  distributes
                  at the relevant time. The term “Products” shall never include (i) the
                  Principal’s shuffler,
                  deck checking or verification devices, (ii) any Competitive Products
                  (as
                  that term is defined in the Asia Representative Agreement) the
                  sale of
                  which by Elixir or an member of its Group would violate Section
                  5.7 of the
                  Asia Representative Agreement, or (iii) any other products that
                  Elixir or
                  any members of its Group is prohibited from distributing in the
                  Exclusive
                  Territory by law or an contract entered into by Elixir or any member
                  of
                  its Group.

              	 	
                The
                  Principal will provide the Representative the Wholesale price for
                  each
                  particular order base upon the specific customization requirements
                  for
                  that particular order taking into consideration factors affecting
                  the cost
                  including but not limited to size of the chip, number of colours,
                  other
                  option features, lead times and shipment methods. Such Wholesale
                  price
                  shall be provided immediately prior to the relevant order being
                  placed 

              
	 	 	 
	
                Services

              	 	 
	
                customisation
                  or modification of the Products

              	 	
                To
                  be determined on a case by case basis

              
	
                maintenance
                  and support services for the Products

              	 	
                To
                  be determined on a case by case basis

              
	 	 	
                 

              

      

       

      Schedule
        2

      Sales
        Target

      

      
        	
                Relevant
                  period

              	 	
                Sales
                  Target of Principal’s chips 

              
	
                Initial
                  Term

              	 	
                US
                  $20,000,000

              

      

      

      
        
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