ATLANTIC INTERNATIONAL ENTERTAINMENT, LTD. LICENSE AGREEMENT
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AIE SPORTS BOOK SOFTWARE SYSTEM PRODUCT (WEBSPORTS)
THIS SINGLE USER LICENSE AGREEMENT IS A BINDING AGREEMENT BETWEEN GRENADA
MANAGEMENT CORPORATION (USER) AND ATLANTIC INTERNATIONAL ENTERTAINMENT, LTD. FOR
THE SOFTWARE SYSTEM PRODUCT (WEBSPORTS), WHICH INCLUDES COMPUTER SOFTWARE AND
ASSOCIATED PRINTED MATERIALS. BY INSTALLING OR OTHERWISE USING THE SOFTWARE
SYSTEM PRODUCT (WEBSPORTS), USER AGREES TO BE BOUND BY THE TERMS OF THIS
AGREEMENT.
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SOFTWARE SYSTEM PRODUCT LICENSE
The Software Systems Product is protected by copyright laws and International
copyright treaties as well as other intellectual property laws and treaties.
This Software System Product is licensed and not sold.
1. GRANT OF LICENSE. This SINGLE USER LICENSE AGREEMENT grants USER the
following rights:
o User may install and use one copy of the Software System
Product. This Software System Product may not be shared or
used concurrently at more than one location.
2. DESCRIPTION OF OTHER RIGHTS AND LIMITATIONS.
o User may not reverse engineer, decompile, or disassemble the
Software System Product.
o The Software System Product is licensed as a single product.
Its component parts may not be separated for use other than
for one specific application.
o User may not rent, lease, sell, transfer or assign the
Software System Product without written consent of Atlantic
International Entertainment, Ltd.
o This is a non-expiring license. Without prejudice to any other
rights, Atlantic International Entertainment, Ltd. may
terminate this SINGLE USER LICENSE AGREEMENT if user fail to
comply with all terms and conditions of this agreement. In
such event, User must must destroy all copies of this product.
3. COPYRIGHT. All title and copyrights to the Software System Product are
owned by Atlantic International Entertainment, Ltd.
4. FEE. $190,000, Payable after installation and acceptance by User at a
minimum rate of $2,500 per month beginning 30 days after system (Version
1.5) is operating commercially. Payments to start no later than September
1, 1997. Fee includes all hardware requirements to provide a fully
operational system. Hardware to be installed by User. A $50,000 flat fee
will be charged for additional Software Systems in one location, not
including any additional hardware requirements. Payment in full by
November 15, 1998.
5. SUPPORT AND UPGRADES. User will also pay $500 per month for telephone
technical support and software upgrades.
ATLANTIC INTERNATIONAL ENTERTAINMENT, LTD. TO THE MAXIMUM EXTENT PERMITTED BY
DELAWARE LAW, DISCLAIM ALL WARRANTIES, EITHER EXPRESSED OR IMPLIED WITH REGARD
TO THIS PRODUCT. IN NO EVENT SHALL ATLANTIC INTERNATIONAL ENTERTAINMENT, LTD. BE
LIABLE FOR ANY SPECIAL, INCIDENTAL, INDIRECT, OR CONSEQUENTIAL DAMAGES
WHATSOEVER ARISING OUT OF THE USE OF THIS PRODUCT.
Agreed to this 27 day of February, 1997
Grenada Management Corporation Atlantic International Entertainment, Ltd.
X.X. Xxx 000 2200 Corporate Blvd., Suite 000
Xxxxxxxxxx, Xxxxx Xxxx Xxxxx, Xxxxxxx 00000
BY: /s/ Xxxx Xxxxxxx BY: /s/ Xxxxxxx Xxxxxxx
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Xxxx Xxxxxxx, U.S. Agent Xxxxxxx Xxxxxxx, President
