Maryland Million Contract

1. There are no provisions for supplementary entries to Maryland Million races.

2. There is no nomination fee due for foals that are conceived in Maryland by a nominated stallion. Contact the Maryland Million office to receive a certificate for your eligible foal.

3. Maryland Million Ltd. reserves the right to postpone or change the conditions of all or any part of the Maryland Million program without any liability. Maryland Million programs may be canceled without notice and Maryland Million Ltd. shall have no liability except to make distribution of funds in the form of purses and awards less administrative expenses.

4. Foal nominator awards (through 2008 foals) will be paid to the nominator whose name appears on the form of any horses listed hereon finish first, second, third or fourth in any Maryland Million race in any year. These awards are independent of any other Maryland award program.

5. In the event that any nominated foal is unable to be entered (or to
run) in any Maryland Million race, regardless of the reason (or reasons), no refunds will be paid to foal nominators. Foal nominations are made with the express understanding that no assurances with regard to entry in any Maryland Million race, beyond eligibility to the program, are being given.

6. This agreement is for horses sired by stallions properly nominated to the Maryland Million program, including several deceased stallions which ended their careers in Maryland.

7. Maryland Million Ltd. reserves the right to limit the number of starters in any Maryland Million race. If selection of entries is necessary, Maryland Million Ltd. shall have sole discretion over the method used. Maryland Million Ltd. also reserves the right to change the distance or course of any race without liability.

8. Maryland Million races shall be run in compliance with the racing
rules and regulations of the Maryland Racing Commission. Maryland Million Ltd. shall have no liability for the actions of any officials or employees of the track where such races are held or for any matter under the track's control. Purses and award payments shall be made to the owners or lessees recognized as such by the track and the Maryland Racing Commission.

9. Maryland Million Ltd. reserves the right to broadcast, televise or record Maryland Million races and the activities incident to them, and to exploit same by any means. Maryland Million Ltd. also reserves the right to use the names and likenesses of nominated stallions and their nominated progeny in its promotion and advertising in any manner deemed appropriate.

10. The nominator grants his consent to be photographed without remuneration, and agrees to obtain consent from his employees, agents and associates when and if required. Nominator further understands and consents that use by him of the name or logo of Maryland Million shall only be made in accordance with rules established by Maryland Million Ltd.

11. Maryland Million Ltd. makes no representations or warranties as to benefits being realized as a result of participation in the Maryland Million program. Maryland Million Ltd. shall not be liable if any benefits anticipated by a nominator are not realized for any reason whatsoever.

12. Purse distribution for Maryland Million races shall be as follow:

An amount equal to 10% of the day's gross purses will be paid in the form of nominator awards; 5% directly to stallion nominators and 5% directly to foal nominations (through 2008 foals), as explained in Condition 4.

13. Maryland Million Ltd. is a trade association and, accordingly, nomination payments are not deductible as charitable contributions for federal income tax purposes but may be deductible as business expenses.

14. The purpose of Maryland Million Ltd. is to improve business conditions relating to Thoroughbred breeding and racing.

Foal and stallion nominators are considered members of the Maryland Million Ltd. association.