ATTENTION! If you already have USB-Emulator for MC X4 (HASP or NetHASP) installed you can skip steps 1) - 5) and need only to run "mastercam_X5_crk.exe" 1) Unpack a folders "USB-Emul_Win32" and "remove_old_emuls" to your computer 2) Run "remove_old_emuls\delete_old_emuls.bat" to CLEAR a Windows Registry from "blacklisted" Emulators 3) Run "mcamX4_MU3-dealer-nethasp.reg" or "mcamX4_MU3-industrial-nethasp.reg" (dealer dump has got extended functionality!) if you want to install Mastercam X5 with NetHASP SIM type. or run "mcamX4_MU3-dealer_hasp.reg" if you want to install Mastercam X5 with HASP SIM type. 4) Run "install.bat" to install USB-Emulator 5) Install MC X5 as HASP or NetHASP SIM type. 6) Copy Mastercam.exe from crack to and replace original one 7) Enjoy That's all