THIS DEBT SETTLEMENT AGREEMENT is dated effective the 11th day of July, 2007.
(the “Company” or the “Creditor”)
NOW THEREFORE THIS AGREEMENT WITNESSES that in consideration of the sum of $10.00 paid
by the Company to the Creditor, the receipt and sufficiency of which is hereby acknowledged by the Creditor,
and subject to the terms and conditions hereinafter set out, the parties hereto have agreed and do hereby agree as
RACINO ROYALE, INC. a body corporate, duly incorporated pursuant to the laws
of the State of Nevada
EIGER TECHNOLOGY, INC., a body corporate, duly incorporated pursuant to
the laws of the Province of Ontario
A. The Company is indebted to the Creditor in the amount of $250,000 (the “Debt”).
B. The Debtor has agreed, in lieu of a cash payment of the Debt, to issue a total of 5,000,000
common shares in its capital stock in full and final payment of the Debt.
1. The Creditor agrees to accept a total of 5,000,000 common shares of the Debtor (the “Shares”) as
full and final settlement of the Debt.
2. The Debtor agrees to issue the Shares to the Creditor as full and final settlement of the Debt.
3. The Creditor and the Debtor agree that no interest is payable on the Debt or is outstanding as of
4. The parties hereto agree to execute all further documents and assurances as may be necessary to
give effect to the intent expressed herein.
5. Notwithstanding any other term contained herein, the Creditor shall be entitled, in its sole
discretion, to terminate this Agreement at any time prior to the issuance of the Shares by the
6. The Debtor acknowledges that CD Farber Law Corp has advised it to seek independent legal
advice with respect to this Debt Settlement Agreement and that CD Farber Law Corp. has not
reviewed this Debt Settlement Agreement on its behalf.
7. Time shall be of the essence in this Agreement.
8. This Agreement shall be governed by and be construed