EXHIBIT 4.21 WORLD GAMING The CIBC Banking Centre tel. (268) 480-1650 Old Parham Road fax. (268) 480-1656 P.O. Box 3265 St. John's, Antigua West Indies www.worldgaming.com 16 May, 2002 Mr. Rodney Davis, 348 Granby Court, Pickering, Ontario Dear Rodney, As per our conversation, this letter serves as acceptance in writing of your letter of resignation dated 20 May, 2002. Please note that the company reserves the right to enforce the Confidentiality clause of your Employment Agreement, for a six (6) month period, immediately following your termination. In recognition of your contribution, we offer you a generous severance package comprising the following: o Six (6) months base salary, to be paid in twelve (12) equal semi-monthly installments. o Accrued bonus (50%) for January to May, 2002. o Severance Bonuse (50%) for the period June-November, 2002. o Accrued Vacation Pay for 16 Days: US$11,515.15 o Current options will continue to vest until 21 November, 2002. The current option grants are as follows: 100,000 vested options at $1.34 25,000 vested options at $2.25 50,000 vested options at $0.45 25,000 vested options at $0.90 25,000 vested options at $0.60 I wish to take this opportunity to thank you for your invaluable contribution to the growth and reorganization of Worldgaming, and wish you the very best in your future endeavors. Kindly indicated by your signature that you have read and accepted the above mentioned package. WORLD GAMING The CIBC Banking Centre tel. (268) 480-1650 Old Parham Road fax. (268) 480-1656 P.O. Box 3265 St. John's, Antigua West Indies www.worldgaming.com Sincerely, ___________________________ Jim McDay Director, World Gaming BOD CCLucette James-Wint Director of Human Resouces & Facilities I have read, and accepted the severance package outline above. _______________________________________ Rodney Davis Date: