AMENDMENT TO WINNER'S POT POKER LICENSE AGREEMENT
AMENDMENT
TO WINNER'S POT POKER LICENSE AGREEMENT
This
amendment to the License Agreement entered into on January 4, 2008 by and
between Poker
Magic, Inc., 000
Xxxx
Xxxxxx, X., #000, Xxxxxxx, Xxxxxxxxx 00000, hereinafter “Licensor,” and
Bally’s
Park Place, Inc. a New Jersey corporation d/b/a Bally’s Atlantic City,
hereinafter
“Licensee,” Xxxx Xxxxx & Xxxxxxxxx, Xxxxxxxx Xxxx, Xxx Xxxxxx 00000,
hereinafter “Location,” is entered into as of the last date appearing below.
Licensor and Licensee are collectively referred to herein as the “Parties” or
each singularly referred to as a “Party.”
The
Parties, having determined that the Game has been approved by the New Jersey
Casino Control Commission and the Trial Period has ended, desire to amend the
License Agreement as follows:
Article
3
of the original License Agreement is rescinded and replaced in its entirety
with
Article
3 - Payment
as
follows:
Article
3 -
Payment:
3.01 Licensee
hereby acknowledges receipt of one (1) Unit and table sign that was previously
provided by Licensor to Licensee under the License Agreement prior to this
amendment. Licensee may use such Unit up to 7-days per week at Licensee’s
discretion. Licensee shall pay to Licensor a monthly license fee of $475.00
on
the first day of each month beginning on June 1, 2008 and continuing throughout
the term of this License Agreement for the use of such Unit.
3.02 Licensor
shall provide to Licensee one (1) additional Unit and table sign, which Licensee
shall be permitted to use during the weekend only, beginning Friday at noon
(12
PM) and ending Sunday at midnight (12 AM). Licensee shall pay to Licensor
a
monthly
license fee of $200.00 on the first day of each month beginning on June 1,
2008
and continuing throughout the term of this License Agreement for the use of
such
Unit; provided, however, that if the Parties so agree in a future writing signed
by both Parties that the Licensee may use the foregoing Unit more frequently
than on the weekend, Licensee shall pay to Licensor a monthly license fee of
$475.00 beginning on the first day of each month following the Parties’ mutual
agreement regarding more frequent use and continuing throughout the term of
this
License Agreement for
the
use
of such Unit.
3.03 All
payments due under this Article 3 shall be paid by check and sent by Licensee
to
the address as follows: Poker Magic, Inc., 000 Xxxx Xxxxxx, X., #000, Xxxxxxx,
Xxxxxxxxx 00000.
3.04 Should
Licensee fail to timely make any payment under this Article 3 when due, this
License Agreement shall be terminable by Licensor in accordance with the terms
of Article 6.
3.05 During
the term of this License Agreement, the Parties may agreed to renegotiate the
Payment terms. All amendments to this License Agreement must be in accordance
with Article 9.09.
The
following provision shall be added to Article
4 - General Obligations of Licensee
of the
original License Agreement:
Article
4 - General Obligations of Licensee
4.05 Licensee
shall be responsible for all costs of any table layouts or table signs that
may
be required as a consequence of ordinary wear and tear or otherwise to replace
the original table layouts and table signs that were furnished by Licensor
to
Licensee in connection with the original execution of this Agreement by the
Parties.
Except
as
expressly amended above, the terms and conditions of the original License
Agreement remain in full force and effect.
LICENSOR:
Poker
Magic, Inc.
/s/
Xxxxxxx X. Xxxxxxxx
Xxxxxxx
X. Xxxxxxxx,
President
Dated:
June 26, 2008
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LICENSEE:
Bally’s
Park Place, Inc., a New Jersey Corporation, d/b/a Bally’s Atlantic
City
/s/
Xxx Xxxxxxxx
Xxx
Xxxxxxxx,
Senior
Vice President and General Manager
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