Document:

NEITHER
      THE ISSUANCE AND SALE OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE NOR
      THE
      SECURITIES INTO WHICH THESE SECURITIES ARE EXERCISABLE HAVE BEEN REGISTERED
      UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES
      LAWS. THE SECURITIES MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED
      (I) IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES
      UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR (B) AN OPINION OF COUNSEL
      (WHICH COUNSEL SHALL BE SELECTED BY THE HOLDER), IN A GENERALLY ACCEPTABLE
      FORM,
      THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT OR (II) UNLESS SOLD PURSUANT
      TO
      RULE 144 OR RULE 144A UNDER SAID ACT. NOTWITHSTANDING THE FOREGOING, THE
      SECURITIES MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR
      OTHER
      LOAN OR FINANCING ARRANGEMENT SECURED BY THE SECURITIES.

    

    Solar
      Thin Films, Inc. 

    

    Series
      E Warrant To Purchase Common Stock

    

    Warrant
      No.: 1.E.

    Number
      of
      Shares of Common Stock: 

    

    Date
      of
      Issuance: ___________ ("Issuance
      Date")

    

    Solar
      Thin Films, Inc., a Delaware corporation (the "Company"),
      hereby certifies that, for good and valuable consideration, the receipt and
      sufficiency of which are hereby acknowledged, __________________ the registered
      holder hereof or its permitted assigns (the "Holder"),
      is
      entitled, subject to the terms set forth below, to purchase from the Company,
      at
      the Exercise Price (as defined below) then in effect, upon surrender of this
      Warrant to Purchase Common Stock (including any Warrants to Purchase Common
      Stock issued in exchange, transfer or replacement hereof, the "Warrant"),
      at
      any time or times on or after the date hereof, but not after 11:59 p.m., New
      York Time, on the Expiration Date (as defined below), ___________ (__________)
      fully paid nonassessable shares of Common Stock (as defined below) (the
      "Warrant
      Shares").
      Except as otherwise defined herein, capitalized terms in this Warrant shall
      have
      the meanings set forth in Section 15. This Warrant is one of the Warrants to
      purchase Common Stock (the "Subscription Warrants")
      issued
      pursuant to Section 1 of that certain Subscription Agreement, dated as of
      October 2007 (the "Subscription
      Date"),
      by
      and among the Company and the investors (the "Buyers")
      referred to therein (the "Subscription").

     

    1. EXERCISE
      OF WARRANT.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    (a) Mechanics
      of Exercise.
      Subject
      to the terms and conditions hereof this Warrant may be exercised by the Holder
      on any day on or after the date hereof, in whole or in part, by
      (i) delivery of a written notice, in the form attached hereto as
Exhibit
      A
      (the
      "Exercise
      Notice"),
      of
      the Holder's election to exercise this Warrant and (ii) payment to the
      Company of an amount equal to the applicable Exercise Price multiplied by the
      number of Warrant Shares as to which this Warrant is being exercised (the
      "Aggregate
      Exercise Price")
      in
      cash or by wire transfer of immediately available funds. The Holder shall not
      be
      required to deliver the original Warrant in order to affect an exercise
      hereunder. Execution and delivery of the Exercise Notice with respect to less
      than all of the Warrant Shares shall have the same effect as cancellation of
      the
      original Warrant and issuance of a new Warrant evidencing the right to purchase
      the remaining number of Warrant Shares. On or before the first (1st)
      Business Day following the date on which the Company has received each of the
      Exercise Notice and the Aggregate Exercise Price (or notice of a Cashless
      Exercise) (the "Exercise
      Delivery Documents"),
      the
      Company shall transmit by facsimile an acknowledgment of confirmation of receipt
      of the Exercise Delivery Documents to the Holder and the Company's transfer
      agent (the "Transfer
      Agent").
      On or
      before the third (3rd)
      Business Day following the date on which the Company has received all of the
      Exercise Delivery Documents (the "Share
      Delivery Date"),
      the
      Company shall (X) provided that the Transfer Agent is participating in The
      Depository Trust Company ("DTC")
      Fast
      Automated Securities Transfer Program, upon the request of the Holder, credit
      such aggregate number of shares of Common Stock to which the Holder is entitled
      pursuant to such exercise to the Holder's or its designee's balance account
      with
      DTC through its Deposit Withdrawal Agent Commission system, or (Y) if the
      Transfer Agent is not participating in the DTC Fast Automated Securities
      Transfer Program, issue and dispatch by overnight courier to the address as
      specified in the Exercise Notice, a certificate, registered in the Company's
      share register in the name of the Holder or its designee, for the number of
      shares of Common Stock to which the Holder is entitled pursuant to such
      exercise. Upon delivery of the Exercise Notice and Aggregate Exercise Price
      referred to in clause (ii) the Holder shall be deemed for all corporate purposes
      to have become the holder of record of the Warrant Shares with respect to which
      this Warrant has been exercised, irrespective of the date of delivery of the
      certificates evidencing such Warrant Shares. No fractional shares of Common
      Stock are to be issued upon the exercise of this Warrant, but rather the number
      of shares of Common Stock to be issued shall be rounded up to the nearest whole
      number. The Company shall pay any and all taxes which may be payable with
      respect to the issuance and delivery of Warrant Shares upon exercise of this
      Warrant. Notwithstanding
      the foregoing, on any given date the maximum number of Warrant Shares issuable
      upon exercise of this Warrant on such date shall equal (i) such number of
      Warrant Shares issued on or prior to such date upon exercise of the Holder's
      Series E Warrant, less (ii) such number of Warrant Shares exercised hereunder
      prior to such date.

     

    (b) Exercise
      Price.
      For
      purposes of this Warrant, "Exercise
      Price"
      means
      $3.30, subject to adjustment as provided herein.

     

    (c) Limitations
      on Exercises; Beneficial Ownership.
      The
      Company shall not effect the exercise of this Warrant, and the Holder shall
      not
      have the right to exercise this Warrant, to the extent that after giving effect
      to such exercise, such Person (together with such Person's affiliates) would
      beneficially own in excess of 4.99% (the "Maximum
      Percentage")
      of the
      shares of Common Stock outstanding immediately after giving effect to such
      exercise. For purposes of the foregoing sentence, the aggregate number of shares
      of Common Stock beneficially owned by such Person and its affiliates shall
      include the number of shares of Common Stock issuable upon exercise of this
      Warrant with respect to which the determination of such sentence is being made,
      but shall exclude shares of Common Stock which would be issuable upon (i)
      exercise of the remaining, unexercised portion of this Warrant beneficially
      owned by such Person and its affiliates and (ii) exercise or conversion of
      the
      unexercised or unconverted portion of any other securities of the Company
      beneficially owned by such Person and its affiliates (including, without
      limitation, any convertible notes or convertible preferred stock or warrants)
      subject to a limitation on conversion or exercise analogous to the limitation
      contained herein. Except as set forth in the preceding sentence, for purposes
      of
      this paragraph, beneficial ownership shall be calculated in accordance with
      Section 13(d) of the Securities Exchange Act of 1934, as amended. For purposes
      of this Warrant, in determining the number of outstanding shares of Common
      Stock, the Holder may rely on the number of outstanding shares of Common Stock
      as reflected in (1) the Company's most recent Form 10-K, Form 10-Q, Current
      Report on Form 8-K or other public filing with the Securities and Exchange
      Commission, as the case may be, (2) a more recent public announcement by the
      Company or (3) any other notice by the Company or the Transfer Agent setting
      forth the number of shares of Common Stock outstanding. For any reason at any
      time, upon the written or oral request of the Holder, the Company shall within
      one Business Day confirm orally and in writing to the Holder the number of
      shares of Common Stock then outstanding. In any case, the number of outstanding
      shares of Common Stock shall be determined after giving effect to the conversion
      or exercise of securities of the Company, including the SPA Securities and
      the
      Subscription Warrants, by the Holder and its affiliates since the date as of
      which such number of outstanding shares of Common Stock was reported. By written
      notice to the Company, the Holder may from time to time increase or decrease
      the
      Maximum Percentage to any other percentage not in excess of 9.99% specified
      in
      such notice; provided that (i) any such increase will not be effective until
      the
      sixty-first (61st)
      day
      after such notice is delivered to the Company, and (ii) any such increase or
      decrease will apply only to the Holder and not to any other holder of
      Subscription Warrants.

     

    
      
         

      

      
        -2-

        
          

        

      

      
         

      

    

    2. WARRANT
      HOLDER NOT DEEMED A STOCKHOLDER.
      Except
      as otherwise specifically provided herein, the Holder, solely in such Person's
      capacity as a holder of this Warrant, shall not be entitled to vote or receive
      dividends or be deemed the holder of share capital of the Company for any
      purpose, nor shall anything contained in this Warrant be construed to confer
      upon the Holder, solely in such Person's capacity as the Holder of this Warrant,
      any of the rights of a stockholder of the Company or any right to vote, give
      or
      withhold consent to any corporate action (whether any reorganization, issue
      of
      stock, reclassification of stock, consolidation, merger, conveyance or
      otherwise), receive notice of meetings, receive dividends or subscription
      rights, or otherwise, prior to the issuance to the Holder of the Warrant Shares
      which such Person is then entitled to receive upon the due exercise of this
      Warrant. In addition, nothing contained in this Warrant shall be construed
      as
      imposing any liabilities on the Holder to purchase any securities (upon exercise
      of this Warrant or otherwise) or as a stockholder of the Company, whether such
      liabilities are asserted by the Company or by creditors of the Company.

     

    3. REISSUANCE
      OF WARRANTS.

     

    (a) Transfer
      of Warrant.
      If this
      Warrant is to be transferred, the Holder shall surrender this Warrant to the
      Company, whereupon the Company will forthwith issue and deliver upon the order
      of the Holder a new Warrant (in accordance with Section 3), registered as the
      Holder may request, representing the right to purchase the number of Warrant
      Shares being transferred by the Holder and, if less then the total number of
      Warrant Shares then underlying this Warrant is being transferred, a new Warrant
      (in accordance with Section 3) to the Holder representing the right to purchase
      the number of Warrant Shares not being transferred.

     

    
      
         

      

      
        -3-

        
          

        

      

      
         

      

    

    (b) Lost,
      Stolen or Mutilated Warrant.
      Upon
      receipt by the Company of evidence reasonably satisfactory to the Company of
      the
      loss, theft, destruction or mutilation of this Warrant, and, in the case of
      loss, theft or destruction, of any indemnification undertaking by the Holder
      to
      the Company in customary form and, in the case of mutilation, upon surrender
      and
      cancellation of this Warrant, the Company shall execute and deliver to the
      Holder a new Warrant (in accordance with Section 3) representing the right
      to
      purchase the Warrant Shares then underlying this Warrant.

     

    (c) Issuance
      of New Warrants.
      Whenever the Company is required to issue a new Warrant pursuant to the terms
      of
      this Warrant, such new Warrant (i) shall be of like tenor with this Warrant,
      (ii) shall represent, as indicated on the face of such new Warrant, the right
      to
      purchase the Warrant Shares then underlying this Warrant (or in the case of
      a
      new Warrant being issued pursuant to Section 3(a) or Section 3(c), the Warrant
      Shares designated by the Holder which, when added to the number of shares of
      Common Stock underlying the other new Warrants issued in connection with such
      issuance, does not exceed the number of Warrant Shares then underlying this
      Warrant), (iii) shall have an issuance date, as indicated on the face of such
      new Warrant which is the same as the Issuance Date, and (iv) shall have the
      same
      rights and conditions as this Warrant.

     

    4. NOTICES.
      Whenever notice is required to be given under this Warrant, unless otherwise
      provided herein, such notice shall be given in accordance with the Subscription
      Agreement. 

     

    5. AMENDMENT
      AND WAIVER.
      Except
      as otherwise provided herein, the provisions of this Warrant may be amended
      and
      the Company may take any action herein prohibited, or omit to perform any act
      herein required to be performed by it, only if the Company has obtained the
      written consent of the Required Holders; provided that no such action may
      increase the exercise price of any Subscription Warrant, change the expiration
      date of any SPA Warrant to any date prior to the Expiration Date or decrease
      the
      number of shares or change the class of stock obtainable upon exercise of any
      Subscription Warrant without the written consent of the Holder. No such
      amendment shall be effective to the extent that it applies to less than all
      of
      the holders of the Subscription Warrants then outstanding.

     

    6. GOVERNING
      LAW.
      This
      Warrant shall be governed by and construed and enforced in accor-dance with,
      and
      all questions concerning the construction, validity, interpretation and
      performance of this Warrant shall be governed by, the internal laws of the
      State
      of New York, without giving effect to any choice of law or conflict of law
      provision or rule (whether of the State of New York or any other jurisdictions)
      that would cause the application of the laws of any jurisdictions other than
      the
      State of New York.

     

    7. CONSTRUCTION;
      HEADINGS.
      This
      Warrant shall be deemed to be jointly drafted by the Company and all the Buyers
      and shall not be construed against any person as the drafter hereof. The
      headings of this Warrant are for convenience of reference and shall not form
      part of, or affect the interpretation of, this Warrant.

     

    
      
         

      

      
        -4-

        
          

        

      

      
         

      

    

    8. TRANSFER. This
      Warrant may be offered for sale, sold, transferred or assigned, in whole or
      in
      part, without the consent of the Company, except as may otherwise be required
      by
      Section 2(f) of the Subscription Agreement.

     

    9. CERTAIN
      DEFINITIONS.
      For
      purposes of this Warrant, the following terms shall have the following
      meanings:

     

    (a) "Business
      Day"
      means
      any day other than Saturday, Sunday or other day on which commercial banks
      in
      The City of New York are authorized or required by law to remain
      closed.

     

    (b) "Common
      Stock"
      means
      (i) the Company's shares of Common Stock, par value $0.001 per share, and
      (ii) any share capital into which such Common Stock shall have been changed
      or any share capital resulting from a reclassification of such Common
      Stock.

     

    (c) "Expiration
      Date"
      means
      the thirty sixth month anniversary of the Issuance Date or, if such date falls
      on a day other than a Business Day or on which trading does not take place
      on
      the Principal Market (a "Holiday"),
      the
      next date that is not a Holiday.

     

    (d) "Person"
      means
      an individual, a limited liability company, a partnership, a joint venture,
      a
      corporation, a trust, an unincorporated organization, any other entity and
      a
      government or any department or agency thereof.

     

    [Signature
      Page Follows]

    

    
      
         

      

      
        -5-

        
          

        

      

      
         

      

    

    IN
      WITNESS WHEREOF,
      the
      Company has caused this Warrant to Purchase Common Stock to be duly executed
      as
      of the Issuance Date set out above.

    

    

    
      	 	
              SOLAR
                THIN FILMS, INC.

            
	 	 
	 	 
	 	
              BY:____________________________________________

            
	 	
              NAME:
                PETER
                LEWIS

            
	 	
              TITLE:
                CHIEF EXECUTIVE OFFICER

            

    

     

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    EXHIBIT
      A

    

    EXERCISE
      NOTICE

     

    TO
      BE EXECUTED BY THE REGISTERED HOLDER TO EXERCISE THIS

    WARRANT
      TO PURCHASE COMMON STOCK

    

    SOLAR
      THIN FILMS, INC.

     

    The
      undersigned holder hereby exercises the right to purchase _________________
      of
      the shares of Common Stock ("Warrant
      Shares")
      of
      Solar Thin Films, Inc.., a Delaware corporation (the "Company"),
      evidenced by the attached Warrant to Purchase Common Stock (the "Warrant").
      Capitalized terms used herein and not otherwise defined shall have the
      respective meanings set forth in the Warrant.

    

    1.
      Form
      of Exercise Price. The Holder intends that payment of the Exercise Price shall
      be made as:

    

    ____________ a
      "Cash
      Exercise"
      with
      respect to _________________ Warrant Shares; and/or

    

    2.
      Payment of Exercise Price. In the event that the holder has elected a Cash
      Exercise with respect to some or all of the Warrant Shares to be issued pursuant
      hereto, the holder shall pay the Aggregate Exercise Price in the sum of
      $___________________ to the Company in accordance with the terms of the
      Warrant.

    

    3.
      Delivery of Warrant Shares. The Company shall deliver to the holder __________
      Warrant Shares in accordance with the terms of the Warrant.

    

    Date:
      _______________ __, ______

    

    

    ____________________________

    Name
      of
      Registered Holder

     

     

    By:          _________________________    

    Name:

    Title:EMPLOYMENT
      AGREEMENT

     

    AGREEMENT
      dated as
      of the 15th
      day of
      January, 2008, by and among China Display Technologies, Inc., a Delaware
      corporation with its principal office at 12A Block, Xinhe Road, No. 3 Xinqiao,
      Industrial Zone, Shajing District, Baoan Town, Shenzhen, China
      150090 (the
      “Company”), and Yip Kam Ming, an individual residing at Flat H, 11/F., Cotton
      Tree Court, New Town Plaza, Phase III, Shatin, Hong Kong
      (“Executive”).

     

    WITNESSETH:

     

    WHEREAS,
      the
      Company desires to engage Executive to serve at its chief financial officer
      on
      and subject to the terms of this Agreement;

     

    NOW,
      THEREFORE,
      in
      consideration of the mutual promises set forth in this Agreement, the parties
      agree as follows:

     

    1. Employment
      and Duties.

     

    (a) Subject
      to the terms and conditions hereinafter set forth, the Company hereby employs
      Executive as chief financial officer, during the Term, as hereinafter defined.
      As chief financial officer of the Company, Executive shall have the duties
      and
      responsibilities associated with the chief financial officer of a public
      corporation. Executive shall report to the Company’s chief executive officer.
      Executive shall also perform such other duties and responsibilities as may
      be
      determined by the Company’s board of directors (the “Board”), as long as such
      duties and responsibilities are consistent with those of the Company’s chief
      financial officer. 

     

    (b) The
      “Probation Term” shall mean the period commencing on January 15, 2008 and ending
      on April 14, 2008. The “Term” shall mean the period commencing on April 15, 2008
      and continuing thereafter until terminated pursuant to Section 5 of this
      Agreement.

     

    2. Executive’s
      Performance.
      Executive hereby accepts the employment contemplated by this Agreement. During
      the Term, Executive shall perform his duties diligently, in good faith and
      in a
      manner consistent with the best interests of the Company, and shall devote
      substantially all of his business time to the performance of his duties under
      this Agreement. In the course of his employment, Executive shall comply with
      all
      policies, including Codes of Ethics, that are applicable to the Company’s
      officers in general and chief financial and accounting officers, in
      particular.

     

    3. Compensation
      and Other Benefits.

     

    (a) For
      his
      services during the Probation Term and during the Term, the Company shall pay
      Executive a salary (“Salary”) at the monthly rate of sixty five thousand Hong
      Kong dollars (HK$65,000). Salary payments shall be payable monthly in arrears
      in
      accordance with the Company’s policy on executive compensation. 

     

    (b) Executive
      shall not be entitled to any fringe benefits during the Probation Term. During
      the Term, Executive shall receive, in addition to Salary, the following
      benefits:

     

    (i)
      An
      annual bonus equal to one month’s salary, payable in December of each year,
      based on the monthly salary in effect on November 30 of the year.

     

    (ii)
      Such
      benefits as are available to Company employees.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    (iii)
      Ten
      days paid sick leave annually. If such sick leave exceeds two days in any one
      month, the Executive must provide a physician’s certificate describing the
      reasons for the sick leave, which the Company may in its sole discretion approve
      or disapprove.

     

    (iv)
      Twenty days paid leave annually. Such paid leave may not be carried over or
      be
      exchanged for cash. Executive shall schedule his leave in a manner consistent
      with his duties as chief financial officer, including his services required
      in
      connection with the Company’s filings with the United States Securities and
      Exchange Commission, and the Company’s vacation policy.

     

    (v)
      Eligibility to participate in any employee stock option plan or other equity
      participation plans that are available to employees of the Company, it being
      understood that the grant of options or other equity-based incentives is in
      the
      discretion of the compensation committee of the board of directors.

     

    (c) During
      the Term, Executive shall be eligible for such bonuses payments and increases
      in
      Salary as shall be determined by the Compensation Committee in its sole
      discretion.

     

    (d) The
      Company shall grant to Executive 50,000 shares (the “Grant”) per year during the
      Term. The initial Grant shall vest in nine equal monthly installments,
      commencing April 15, 2008 through and including January 15, 2009. The Company
      shall make an additional 50,000 share Grant of the commencement of the Term,
      provided that Executive shall be employed by the Company as chief financial
      officer on that date. Executive shall be eligible for additional annual Grants
      of 50,000 shares, in the discretion of the Compensation Committee. The terms
      of
      the Grants shall be set forth in the Instrument of Grant from the Company to
      the
      Executive. If this Agreement is terminated pursuant to Section 5, any nonvested
      Shares shall be automatically forfeited to the Company unless the Company
      otherwise notifies the Executive. Upon notice from the Company of such
      forfeiture, the Executive shall immediately return to the Company any stock
      certificate that evidences non-vested Shares and shall execute and all such
      documents and instruments to all the Company to reacquire the forfeited Shares.
      The certificates for these shares shall include an appropriate legend referring
      to the forfeiture provisions of the Grant.

     

    4. Reimbursement
      of Expenses.
      The
      Company shall reimburse Executive, upon presentation of proper expense
      statements, for all authorized, ordinary and necessary out-of-pocket expenses
      reasonably incurred by Executive during the Term in connection with the
      performance of his services pursuant to this Agreement in accordance with the
      Company’s expense reimbursement policy.

     

    5. Termination
      of Employment

     

    (a) During
      the Probation Term, this Agreement and Executive’s Employment, may be terminated
      by the Company or Executive for any reason and without any prior notice. No
      severance pay shall be payable to Executive for termination during the Probation
      Term.

     

    (b) During
      the Term, this Agreement and Executive’s employment pursuant to this Agreement
      may be terminated by the Executive or the Company on not less than 30 days’
written notice, provided that the Company may elect to terminate this Agreement
      and the Executive’s employment pursuant to this Agreement forthwith upon payment
      to the Executive one month’s Salary. 

     

    
      
        
        

      

      
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    6. Trade
      Secrets and Proprietary Information.

     

    (a) Executive
      recognizes and acknowledges that the Company, through the expenditure of
      considerable time and money, has developed and will continue to develop in
      the
      future confidential information. “Confidential information” shall mean all
      information of a proprietary or confidential nature relating to Covered Persons,
      including, but not limited to, such Covered Person’s trade secrets or
      proprietary information, confidential know-how, and marketing, services,
      products, business, research and development activities, inventions and
      discoveries, whether or not patentable, and information concerning such Covered
      Person’s services, business, customer or client lists, proposed services,
      marketing strategy, pricing policies and the requirements of its clients and
      relationships with its lenders, suppliers, licensors, licensees and others
      with
      which a Covered Person has a business relationship, financial or other data,
      technical data or any other confidential or proprietary information possessed,
      owned or used by the Company, the disclosure of which could or does have a
      material adverse effect on the Company, its businesses, any business in which
      it
      proposes to engage. Executive agrees that he will not at any time use or
      disclose to any person any confidential information relating to Company;
      provided, however, that nothing in this Section 6(a) shall be construed to
      prohibit Executive from using or disclosing such information if he can
      demonstrate that such information (i) became public knowledge other than by
      or
      as a result of disclosure by a person not having a right to make such disclosure
      or (ii) was disclosure that was authorized by the Company. The term “Covered
      Person” shall include the Company, any subsidiaries and affiliates and any other
      person who provides information to the Company pursuant to a secrecy or
      non-disclosure agreement.

     

    (b) In
      the
      event that any confidential information is required to be produced by Executive
      pursuant to legal process (including judicial process or governmental
      administrative subpoena), Executive shall give the Company notice of such legal
      process within a reasonable time, but not later than ten business days prior
      to
      the date such disclosure is to be made, unless Executive has received less
      notice, in which event Executive shall immediately notify the Company. The
      Company shall have the right to object to any such disclosure, and if the
      Company objects (at the Company’s cost and expense) in a timely manner so that
      Executive is not subject to penalties for failure to make such disclosure,
      Executive shall not make any disclosure until there has been a court
      determination on the Company’s objections. If disclosure is required by a court
      order, final beyond right of review, or if the Company does not object to the
      disclosure, Executive shall make disclosure only to the extent that disclosure
      is required by the court order, and Executive will
      exercise reasonable efforts at the Company’s expense, to obtain reliable
      assurance that confidential treatment will be accorded the confidential
      information.

     

    (c) Executive
      shall, upon expiration or termination of the Term, or earlier at the request
      of
      the Company, turn over to the Company or destroy all documents, papers, computer
      disks or other material in Executive’s possession or under Executive’s control
      which may contain or be derived from confidential information. To the extent
      that any confidential information is on Executive’s hard drive or other storage
      media, he shall, upon the request of the Company, cause either such information
      to be erased from his computer disks and all other storage media or otherwise
      take reasonable steps to maintain the confidential nature of the
      material.

     

    (d) Executive
      further realizes that any trading in Company’s common stock or other securities
      or aiding or assisting others in trading in Company’s common stock or other
      securities, including disclosing any non-public information concerning Company
      or its affiliates to a person who uses such information in trading in the
      Company’s common stock or other securities, may constitute a violation of
      federal and state securities laws. Executive will not engage in any transactions
      involving the Company’s common stock or other securities while in the possession
      of material non-public information in a manner that would constitute a violation
      of federal and state securities laws.

     

    
      
        
        

      

      
        -3-

        
          

        

      

      
        
        

      

    

     

    (e) For
      the
      purposes of Sections 6, 7 and 8 of this Agreement, the term “Company” shall
      include the Company, and any subsidiaries and affiliates.

     

    7. Covenant
      Not To Solicit or Compete.

     

    (a) During
      the period from the date of this Agreement until one year following the date
      on
      which Executive’s employment is terminated, Executive will not, directly or
      indirectly:

     

    (i)
      persuade or attempt to persuade any person which is or was a customer, client
      or
      supplier of the Company to cease doing business with the Company, or to
      reduce
      the amount of business it does with the Company (the terms “customer” and
“client” as used in this Section 7 to include any potential customer or
      client to whom the Company submitted bids or proposals, or with whom the Company
      conducted negotiations, during the term of Executive’s employment or consulting
      relationship hereunder or during the twelve (12) months preceding the
      termination of his employment or consulting relationship, as the case may
      be);

     

    (ii)
      solicit for himself or any other person other than the Company the business
      of
      any person which is a customer or client of the Company, or was a customer
      or
      client of the Company within one (1) year prior to the termination of his
      employment or consulting relationship;

     

    (iii)
      persuade or attempt to persuade any employee of the Company, or any individual
      who was an employee of the Company during the one (1) year period prior to
      the
      lawful and proper termination of this Agreement, to leave the Company’s employ,
      or to become employed by any person in any business in the PRC or HK whether
      as
      an officer, director, consultant, partner, guarantor, principal, agent,
      employee, advisor or in any manner, which directly competes with the business
      of
      the Company as it is engaged in at the time of the termination of this
      Agreement, unless, at the time of such termination or thereafter during the
      period that the Executive is bound by the provisions of this Section 7, the
      Company ceases to be engaged in such activity, provided, however, that nothing
      in this Section 7 shall be construed to prohibit the Executive from owning
      an interest of not more than five (5%) percent of any public company engaged
      in
      such activities.

     

    (b) Executive
      will not, during or after the Probation Term or the Term, make any disparaging
      statements concerning the Company, its business, officers, directors and
      employees that could injure, impair, damage or otherwise affect the relationship
      between the Company, on the one hand, and any of the Company’s employees,
      suppliers, customers, clients or any other person with which the Company has
      or
      may conduct business or otherwise have a business relationship of any kind
      and
      description; provided, however, that this sentence shall not be construed to
      prohibit either from giving factual information required to be given pursuant
      to
      legal process, subject to the provisions of Section 6(b) of this Agreement.
      The
      Company will not make any disparaging statements concerning Executive. This
      Section 7(b) shall not be construed to prohibit the either party from giving
      factual information concerning the other party in response to inquiries that
      such party believes are bona fide.

     

    (c) The
      Executive acknowledges that the restrictive covenants (the “Restrictive
      Covenants”) contained in Sections 6 and 7 of this Agreement are a condition
      of his employment and are reasonable and valid in geographical and temporal
      scope and in all other respects. If any court determines that any of the
      Restrictive Covenants, or any part of any of the Restrictive Covenants, is
      invalid or unenforceable, the remainder of the Restrictive Covenants and parts
      thereof shall not thereby be affected and shall remain in full force and effect,
      without regard to the invalid portion. If any court determines that any of
      the
      Restrictive Covenants, or any part thereof, is invalid or unenforceable because
      of the geographic or temporal scope of such provision, such court shall have
      the
      power to reduce the geographic or temporal scope of such provision, as the
      case
      may be, and, in its reduced form, such provision shall then be
      enforceable.

     

    
      
        
        

      

      
        -4-

        
          

        

      

      
        
        

      

    

     

    (d) Nothing
      in this Section 7 shall be construed to prohibit Executive from owning a
      passive, non-management interest of less than 5% in any public company that
      is
      engaged in activities prohibited by this Section 7.

     

    8. Injunctive
      Relief.
      Executive agrees that his violation or threatened violation of any of the
      provisions of Sections 6 or 7 of this Agreement shall cause immediate and
      irreparable harm to the Company. In the event of any breach or threatened breach
      of any of said provisions, Executive consents to the entry of preliminary and
      permanent injunctions by a court of competent jurisdiction prohibiting Executive
      from any violation or threatened violation of such provisions and compelling
      Executive to comply with such provisions. This Section 8 shall not affect
      or limit, and the injunctive relief provided in this Section 8 shall be in
      addition to, any other remedies available to the Company at law or in equity
      or
      in arbitration for any such violation by Executive. The provisions of Sections
      6, 7 and 8 of this Agreement shall survive any termination of this Agreement
      and
      Executive’s employment and consulting relationship pursuant to this
      Agreement.

     

    9. Indemnification.
      The
      Company shall provide Executive with indemnification to the maximum extent
      permitted by the Company’s certificate of incorporation, by-laws and applicable
      law. 

     

    10. Representations
      by the Executive.
      Executive represents, warrants, covenants and agrees that he has a right to
      enter into this Agreement, that he is not a party to any agreement or
      understanding, oral or written, which would prohibit performance of his
      obligations under this Agreement, and that he will not use in the performance
      of
      his obligations hereunder any proprietary information of any other party which
      he is legally prohibited from using.

     

    11. Miscellaneous.

     

    (a) Any
      notice, consent or communication required under the provisions of this Agreement
      shall be given in writing and sent or delivered by hand, overnight courier
      or
      messenger service, against a signed receipt or acknowledgment of receipt, or
      by
      registered or certified mail, return receipt requested, or telecopier or similar
      means of communication if receipt is acknowledged or if transmission is
      confirmed by mail as provided in this Section 11(b), to the parties at
      their respective addresses set forth at the beginning of this Agreement, with
      notice to the Company being sent to the attention of the individual who executed
      this Agreement on its behalf. Any party may, by like notice, change the person,
      address or telecopier number to which notice is to be sent.

    

    (b) Any
      dispute or difference arising out of or in connection with this Agreement must
      be referred to and determined by arbitration by one arbitrator at the Hong
      Kong
      International Arbitration Centre.

     

    (c) If
      any
      term, covenant or condition of this Agreement or the application thereof to
      any
      party or circumstance shall, to any extent, be determined to be invalid or
      unenforceable, the remainder of this Agreement, or the application of such
      term,
      covenant or condition to parties or circumstances other than those as to which
      it is held invalid or unenforceable, shall not be affected thereby and each
      term, covenant or condition of this Agreement shall be valid and be enforced
      to
      the fullest extent permitted by law, and any court or arbitrator having
      jurisdiction may reduce the scope of any provision of this Agreement, including
      the geographic and temporal restrictions set forth in Section 7 of this
      Agreement, so that it complies with applicable law.

     

    
      
        
        

      

      
        -5-

        
          

        

      

      
        
        

      

    

     

    (d) This
      Agreement constitutes the entire agreement of the Company and Executive as
      to
      the subject matter hereof, superseding all prior or contemporaneous written
      or
      oral understandings or agreements, including any and all previous employment
      agreements or understandings, all of which are hereby terminated, with respect
      to the subject matter covered in this Agreement. This Agreement may not be
      modified or amended, nor may any right be waived, except by a writing which
      expressly refers to this Agreement, states that it is intended to be a
      modification, amendment or waiver and is signed by both parties in the case
      of a
      modification or amendment or by the party granting the waiver. No course of
      conduct or dealing between the parties and no custom or trade usage shall be
      relied upon to vary the terms of this Agreement. The failure of a party to
      insist upon strict adherence to any term of this Agreement on any occasion
      shall
      not be considered a waiver or deprive that party of the right thereafter to
      insist upon strict adherence to that term or any other term of this
      Agreement.

     

    (e) No
      party
      shall have the right to assign or transfer any of its or his rights hereunder
      except that the Company’s rights and obligations may be assigned in connection
      with a merger of consolidation of the Company or a sale by the Company of all
      or
      substantially all of its business and assets.

     

    (f) This
      Agreement shall be binding upon and inure to the benefit of the parties hereto
      and their respective heirs, successors, executors, administrators and permitted
      assigns.

     

    (g) The
      headings in this Agreement are for convenience of reference only and shall
      not
      affect in any way the construction or interpretation of this
      Agreement.

     

    (h) This
      Agreement may be executed in counterparts, each of which when so executed and
      delivered will be an original document, but both of which counterparts will
      together constitute one and the same instrument. 

     

    IN
      WITNESS WHEREOF,
      the
      parties have executed this Agreement as of the date first above
      written.

     

    
      	 	 	 
	 	CHINA DISPLAY TECHNOLOGIES,
              INC.
	 
 	 
 	 
 
	
            	By:  	/s/
              Lawrence Kwok-Yan Chan
	 	
              
Lawrence
              Kwok-Yan Chan, Chief Executive
              Officer

    

     

    
      	 	 	 
	
            	
            	/s/ Yip Kam Ming
	 	
              
Yip
              Kam Ming

    

     

    
      
        
        

      

      
        -6-

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