Agreement Between Yarrawonga-Mulwala Tourism Inc and the Australian Power Boat Association

AGREEMENT BETWEEN YARRAWONGA-MULWALA TOURISM INC AND THE AUSTRALIAN POWER BOAT ASSOCIATION (VICTORIAN BRANCH) – AUGUST 2009

(As sent to the APBAV – 5th August, 2009

This agreement is made between Yarrawonga-Mulwala Tourism Inc. (YMT) and the Australain Power Boat Association - Victorian Branch (APBAV) to organize and conduct the Lake Mulwala Power Speedboat Racing Event (LMP), hereinafter called “the Event”, on Lake Mulwala on Saturday November 28th and Sunday November 29th, 2009.

This agreement is specific to the on-waterpower boat racing activities, and activities directly related to the on-waterpower boat racing activities, associated with the 2009 staging of the Event.

This agreement specifically excludes all activities, either on-water or off-water, that are not specifically associated with the conduct of either the practice sessions, or the power boat racing events, that are associated with the Event. These other activities shall be collectively known as the Yarrawonga-Mulwala Boating and Outdoor Leisure Show (YMBOLS).

Agreement Clauses:

1. Working Party - YMT and the APBAV agree to set up a joint sub-committee to be known as the “workingparty” to oversee the Event. The working party shall consist of representatives of both YMT and the APBAV. YMT and the APBAV shall nominate members to the working party, and may vary their membership of the working party from time to time at their own discretion.

1. Insurances - The APBAV agrees to have YMT noted on all insurance policies that it, or the APBA,or any other relevant organization, may have that could be relevant to the Event, or to any of its associated activities, as an insured party on any such policies, and that it will supply copies of all such policies,noting YMT as an insured party, to YMT no later than fourteen (14) days before the Event. ( See also Clause 15 of this agreement).

1. Financing the Event - Excepting the specific provisions of Clause 6, and elsewhere in this agreement, YMT agrees to raise funds towards the cost of the Event through sponsorship arrangements, donations, or any other means as decided upon by YMT.The APBAV agrees that YMT need not account for any income or expenditure to the APBAV relating to the Event, other thandetails relating to expenditure required to be paid by the APBAV, in part or in whole, under the terms of this agreement.

1. Sponsorship of the Event –The APBAV agrees to inform YMT of full details of any sponsorships being sought, or obtained, by the APBAV, the Australian Power Boat Association (APBA), or any party associated with the APBAV or the APBA, for the Event, whether in cash or in kind, within three (3) working days of such sponsorships being sought or obtained.

The APBAV further agrees to inform YMT of any arrangements that they, or the APBA, or any party associated with the APBA or the APBA, may make, relating either directly or indirectly to the Event, with any businesses, that may possibly be construed by that business as a contribution, either in cash or in kind, to the Event.

It is agreed as accepted principle that all sponsorships, from whatever source will be passed through YMT, and all details and acknowledgements will be managed by YMT.

1. Activities Not Directly Related to On-Water Power Boat Racing - YMT and the APBAVagree that all activities referred to above as YMBLOS are theprovince and

responsibility of YMT. YMT will arrange, organize and fund all such activities atits

solediscretion, and all income from YMBOLS shall pass to YMT.

6. Competitor’s Entry Fees to the Event

It is agreed the APBAV shall receive and retain all entry fees for the entry of all

boats competing atthe Event. YMT agrees that the APBAV shallhave the right to set

entry fees at its absolute discretion.

1. Acceptance by YMT of Accounts Relating to the Event – It is agreed that YMT will not accept anyaccounts or invoices for payment, and will not pay for any expenses either directly or indirectly related to the Event, excepting as specified in this agreement,without prior notification to, andacceptance in writing by, the Secretary of YMT. Any variation of, or exceptions to this Clause shall be at the absolute discretion of YMT.

1. Notification of Entries and Late Entries - The APBAVagrees to provide YMT with a list of entries received 14 days before the Event. YMT agrees that it accepts the practice of further entries (late entries) being accepted after this time, and of late entry monies being paid to the APBAV, at their sole discretion, at any later time up to the conclusion of the Event. YMT agrees to provide the APBAV with four (4) free entry passes per remaining day of the Event for each late entry received during the Event.

1. Notification of Trophy Races and Championship Races - The APBAV agrees to provide to YMT a full list of the Trophy Races and/or Championship Races to be decided at the Event as early as possible, but no later than two (2) months prior to the Event, as an aid to YMT sourcing adequate sponsorship monies to cover the costs of running the Event.

1. Publicity of the Event to Members of the APBAV and the APBA - The APBAV will notify all of its members of the details of the Event, including dates, location, and planned program as early as possible, but no later than two (2) months before the Event, and will similarly post all relevant details of the Event on its website. The APBAV will also do all that it can to see that the APBA similarly notifies its membership of the Event.

1. Tow Monies - YMT agrees to pay tow monies to a maximum amount of $2000-00.YMT is to be advised by the APBAVof tow monies to be paid no later than seven (7) days before the commencement of the event, and YMT agrees to supply individual tow money cheques to the APBAV, for distribution by the APBAV on the morning of the first day of the Event.

1. APBAV Officials – Free entry - YMT and the APBAV agree that the APBAV will supply to YMT 14 days prior to the Event, a list of the names of its officials, and officials of the APBA who will be entitled to free entry to the Event.YMT agrees to provide one (1) free entry pass per day of the Event to the APBAVfor each of these officials, no laterthan theFriday before the Event. The maximum number of free entry passes that willbe issued under Clause 12 will be …… - to be determined by the working party for the Event. No further free passes for the Event will be issued under the conditions of Clause 12, excepting at the absolute discretion of YMT.

1. Competitors – Free Entry - YMT agrees to provide to the APBAV a total of four (4) free entry passes per competing boat foreach day of the Event, for all boats entered for the Event.These passes will be provided to the APBAV following receipt of the final entrylist byYMT, and all such passes are to be distributed at the discretion of the APBAV.

Any extra passes required by competitors shall be paid for by the competitors and be paid to YMT.

TheAPBAV agrees that there will be no free entry passes issued to the Event

exceptingas specified in Clauses 12 13 of this agreement, or at the absolute

discretion ofYMT.YMTagrees to provide separate, and different, passes for each day

of the Event. YMT and the APBAV agree these passes will be in the form of

wristbands, andthat it will be a condition of entry to the Event that these wristbands

are worn at alltimes.

1. Further Free Entry Provisions and Refunds - YMT and the APBAV agree that YMT will not issue any free entry passes to boat crews, associated people,APBAVor APBA officials other than as specified in Clauses 12 & 13 of this agreement, nor willYMT, at its absolute discretion, replace free of charge any lost entry passes, or provide any refunds for unusedpasses, whether they are free entry passes, or paid entry passes, to the Event. Any refunds of entry fees under Clause 14 will be by, at the expense of, and at the sole discretion of, the APBAV.

1. Pit Areas - YMT and the APBAV agree that entry to both of the secured pit areas,and the security of these areas, at all times daylight hours during the Event (including the periodsboth before and after the Event that these areas contain any boats, fuel, or other equipment related to the Event), shall be the responsibilityof the APBAV. The APBAV agrees that it will provide the personnel to man the pit gates and provide security and crowd control for the pits at all times during the Event.

YMT agrees that all fencing of the two pit areas will be supplied and paid for by YMT.

YMT agrees that entry to these pit areasshall be at the discretion of the APBAV, and

that the APBAVshall have the right to charge a fee for anyentry to these areas, and

thatany such fee charged shall remain with the APBAV.

The APBAV agrees that it will be responsible for all insurance relating to these

areas, including but not limited to, public liability insurance relating to any possible

incidentsoccurring within these areas, or as a result of any of the contents or usage of

these areas, and will be responsible for any costs associated with these areas,

excepting thecost of fencing the perimeter of these areas.

The APBAV agrees to supply to YMT evidence of all insurance policies relevant to Clause 15, noting YMT as an insured party, no later than fourteen (14) days before the Event.

1. APBAV – Control of the Event - The APBAV agrees to arrange for, and/or supply, and cover the costs of (excepting as provided by Clause 31 of this agreement), and provide personnel to man all activities or requirements directly related to the running of all activities related to the Event, including both the racing and the practice sessions of the Event. This shall include, but not necessarily be limited to, the provision and manning of all official and safety boats, including crash boats, divers boats, starting boats, buoy referee boats, perimeter control boats, etc, and control tower, marshals to control boat ramp and launching crane activity, and any marquees required by the APBAV. Trestle tables and chairs can be supplied by YMT upon request(no later than fourteen (14) days before the Event.

1. Fuel - The APBAV agrees to supply and be responsible for the costs and security of fuel for all safety and other official boats used both during the Event, and for practice sessions for the Event. It is further agreed that all competitors to the Event will provide, and be responsible for the security of their own fuel supplies. (Excepting as provided for in Clause 18 of this agreement).

1. Methanol - The APBAV agrees to provide, and be responsible for the usage and security of all methanol required for the Event. YMT agrees to pay invoices for any methanol that is used during the event to a maximum amount of $3000-00.

1. Entry Gates to the Event – Manning –The APBAV agrees to provide officials from the APBAV to manthe entry gates to the Yarrawonga Foreshore at Woods Rd and Murphy St, from 7-00am until after the last race on each day of the event. These gates are agreed to be the only gates for entry or exit to or from the event for boats and associated vehicles. YMT specifically agrees to also man the Woods Rd entry to the eastern pits, and the Murphy St entry to the western pits, for the same period, for the purposes of selling admittance passes to people approved by the APBAVfor entry to these pit areas, who do not have officially recognized free entry to the event under Clauses 12 & 13of this agreement.

YMT will man allother entries relating to the public access viewing areas for the Event at its absolute discretion.

1. Security for the Event - YMT agrees that it will provide and pay for 24 hour overall security, commencing at 5-00pm Friday 27th November, and concluding at 5-00pm Sunday 29th November, including crowd control, to the venue for the Event (excepting as otherwise specified in Clauses 15 and 20 of this agreement). This will be overall general security, and the APBAV agrees that it will be responsible for any extra security that it, it’s members, or any relevant authorities, deem to be necessary for eitherthe pits and their contents – including the competitors and official boats, or fuel stores, and other equipment belonging to the APBAVand/or the APBA and/or its members, and the owners and crews of any boats or other equipment relating to the Event.

1. APBAV and Associated Officials – Food and Beverages -YMT agrees to supply and/or be responsible for thereasonable costs of food and non-alcoholic beverages for all APBAV, APBA, and associated personnel, as listed under the conditions of Clause 12 of this agreement, involved in, but not limited to, the on-water running of the Event, the manning and control of the pits, and the entry points for all boats, crews, and APBAVand other officials. YMT agrees that it will provide such food and beverages under Clause 21 upon request by officials of the APBAV.

1. Minimum Entries to Constitute a Class of Racing - The APBAV agrees that a minimum of four (4) entries will be required to constitute a class of racing in order to attract the payment of any prize money by YMT. YMT shall have the right, at its sole discretion to reduce the pool of prize monies proportionately, if any finals races, in any class, are not held for any reason.

1. Prize Money - YMT agrees to provide a minimum of $10,000-00 in total prize money, and further agrees that this prize money shall be allocated at the discretion of the APBAV. The APBAV, the APBA,YMT, or any other party may, at their sole discretion, add to the prize money available to the Event. The APBAV agrees to supply to YMT, no later than two (2)months before the Event, a list of all races to be staged at the Event, and the recommended prizes, and their recommended value, so that a budget can be prepared by YMT for prize money for the Event.

1. Trophies for the Event - The APBAV agrees that it is to arrange for, and supply all trophies, perpetual or otherwise, for the Event, and have them available as required. YMT agrees that it is to pay invoices provided for any non-perpetual trophies to a maximum total cost of $1200-00.

1. Sanction Fees - The APBAVagrees that it will pay all of the Sanction Feesfor the Event.

1. Tractors - YMT will do all that it can, but makes no guarantees, to source and provide at its expense, four (4) tractors with tow balls and security hooks at the front for trailer safety chains, and sufficient drivers for the tractors, for use on the boat launching ramp (Bank & Ely Streets Pits) for the duration of the Event.

1. Cranes - YMT will source and provide at its expense, two (2) cranes for use in launching boats from the western pit area for the duration of the Event.

1. Permits for the Event - The APBAV agrees to arrange and pay for all required permits pertaining to the Event, and related on-water activities. YMT agrees to arrange, and pay for the Goulburn Murray Water permit relating to the closure of the foreshore for the duration of the Event, and any other permits that may be required relating to the off-water events known as YMBOLS.

1. Income from the Event - YMT and the APBAV agree that all monies received relating to the Event,including, but not necessarily restricted to, donations, sponsorships, advertising income, gate receipts and other sales of entry passes, any in-kind donations, shall totally remain with YMT, excepting as may be stated elsewhere in this agreement. The APBAV and YMT agree that there shall be no requirement for the accounting of any income relating to the Event, excepting as may be stated elsewhere in this agreement.

1. Street Parade - YMT and the APBAV agree that there will be no street parade at the Event.

1. Further Provisions Relating to the Event - Excepting as previously stated in this agreement, the APBAV agrees to make all arrangements for, and YMT agrees to pay all invoices, for the following services:

Divers – including inflatable divers boats

Paramedics

Ambulance

Water Police and Maritime NSW boats and personnel

Fuel – methanol only – all other fuel for racing and related on-water activities to be provided and paid for by individual boat crews, or the APBAV – whichever is applicable – (see also Clauses 17 & 18 of this agreement)

CFA

Announcer

Tow monies–see Clause 11.

It is agreed that all on-water support boats for the event, including, but not being limited to, crash boats, starting boats, rescue boats, buoy referee boats, perimeter boats and all their crews,are to be provided, and expenses paid for, by the APBAV. (Excepting as otherwise provided for in Clauses 16& 31of this agreement).