Document:

Exhibit 10.5

    Exhibit
      10.5

    Phoenix
      Aerospace, Inc.

    2201
      Lockheed Way

    Carson
      City, Nevada 89706

    

    December
      14, 2006

    

    Mr.
      Teja
      N. Shariff

    388
      East
      Main Street

    Branford,
      CT 06405

    Re: Debt
      Conversion Agreement

    

    Dear
      Teja:

    

    Reference
      is made to promissory note dated June 30, 2006 issued by Phoenix Aerospace,
      Inc.
      (the “Company”)
      to
      you, a copy of which is attached to this letter agreement as Exhibit
      A.

    

    This
      letter agreement confirms our recent discussions during which you were informed
      that the Company contemplates becoming a wholly owned subsidiary of Phoenix
      International Ventures, Inc., a Nevada corporation. As a part of this
      transaction, Zahir Teja will continue to serve as the President and CEO of
      the
      Company and will also serve as President and CEO of Phoenix International
      Ventures, Inc.

    

    
      	 	
              1.

            	
              The
                Debt.
                As of the date hereof, the aggregate amount of the outstanding principal
                amount, accrued but unpaid interest, and all other amounts due and
                payable
                under the Note is: $48,000 (collectively the “Debt”).
                Aside from the Debt, the Company is not otherwise indebted to
                you.

            

    

    

    
      	 	
              2.

            	
              Agreement
                to Convert Note into Common Stock.
                Upon the terms and subject to the conditions hereinafter set forth,
                you
                hereby agree to accept in full satisfaction of the Debt the right
                to
                receive such number of shares of the Company that equals 96,000 shares
                of
                Phoenix International Ventures, Inc. common stock, par value $.001
                per
                share (collectively, the “Securities”).
                To this end, simultaneous with the execution and delivery of this
                letter
                agreement, you hereby tender the Note, marked “cancelled”. The Company
                will cause Phoenix International Ventures, Inc. (“PIV”)
                to issue certificate(s) representing the Securities promptly after
                the
                closing of the anticipated acquisition of all the outstanding capital
                stock of the Company by PIV (the “PIV
                Acquisition”).

            

    

    

    
      	 	
              3.

            	
              Representations
                and Warranties.
                You represent and warrant to the Company as follows, which representations
                and warranties shall survive the execution and delivery of this letter
                agreement and the consummation of the transactions contemplated
                hereby:

            

    

    

    
      	 	
              (a)

            	
              In
                making the decision to invest in the Securities, you have discussed
                with
                your counsel the representations, warranties and agreements which
                you are
                making in this letter agreement, the applicable limitations upon
                the
                resale of the Securities, and the investment, tax and legal consequences
                of this investment. You disclaim reliance on any statements made
                or
                information provided by any person or entity in the course of your
                consideration of an investment in the
                Securities.

            

    

    

    
      
        
        

      

      
        -1-

        
          

        

      

      
        
        

      

    

    
      	 	
              (b)

            	
              You
                understand that no federal or state agency has made any finding or
                determination regarding the fairness of this investment or any
                recommendation or endorsement of this
                investment.

            

    

    

    
      	 	
              (c)

            	
              You
                are purchasing the Securities for your own account, with the intention
                of
                holding the Securities for investment purposes, with no present intention
                of dividing or allowing others to participate in this investment
                or of
                reselling or otherwise participating, directly or indirectly, in
                a
                distribution of the Securities; and shall not make any sale, transfer
                or
                other disposition of the Securities without registration under the
                1933
                Act and applicable state securities laws unless an exemption from
                registration is available under those laws. You are not acquiring
                any
                portion of the Securities or any interest therein, on behalf of another
                person. No person other than you has any direct or indirect beneficial
                interest in the Securities purchased hereunder by
                you.

            

    

    

    
      	 	
              (d)

            	
              Your
                overall commitment to investments which are not readily marketable
                is not
                disproportionate to your net worth, and your investment in the Securities
                will not cause such overall commitment to become
                excessive.

            

    

    

    
      	 	
              (e)

            	
              You
                have adequate means of providing for your current needs and personal
                and
                family contingencies and have no need for liquidity in your investment
                in
                the Securities.

            

    

    

    
      	 	
              (f)

            	
              You
                are an “accredited investor” as that term is defined in Rule 501(a) under
                Regulation D promulgated by the Securities and Exchange Commission
                (the
                “SEC”)
                under the 1933 Act. You are financially able to bear the economic
                risk of
                this investment, including the ability to afford holding the Securities
                for an indefinite period or to afford a complete loss of this
                investment.

            

    

    

    
      	 	
              (g)

            	
              The
                address set forth above is your principal
                residence.

            

    

    

    
      	 	
              (h)

            	
              You
                have such knowledge and experience in financial business matters
                as to be
                capable of evaluating the merits and risks of an investment in the
                Securities. You
                acknowledge that this letter agreement does not contain all information
                that is necessary to make an investment decision with respect to
                the
                Company and the Securities and that you must rely on your own examination
                of the Company and the terms and conditions of this investment prior
                to
                making any investment decision with respect to the Securities.
                

            

    

    

    
      	 	
              (i)

            	
              You
                have been given the opportunity to ask questions of and receive answers
                from the Company and its executive officers concerning the business
                and
                operations of the Company and the terms, provisions, and conditions
                of
                this investment and to obtain any such additional information that
                you
                deem necessary or advisable in order to evaluate an investment in
                the
                Company; and you have availed yourself of such opportunity to the
                extent
                considered appropriate in order to evaluate the merits and risks
                of the
                proposed investment.

            

    

    

    
      	 	
              (j)

            	
              You
                have made an independent evaluation of the merits of this investment
                and
                acknowledge the high risk nature of the
                investment.

            

    

    

    
      	 	
              (k)

            	
              You
                understand that none of the Securities have been registered under
                the 1933
                Act or any state securities laws in reliance on exemptions for private
                offerings; the Securities cannot be resold or otherwise disposed
                of unless
                they are subsequently registered under the 1933 Act and applicable
                state
                securities laws or an exemption from registration is available. The
                certificate(s) representing the Securities will bear a legend
                substantially similar to the legend set forth immediately below until
                (1)
                such Securities shall have been registered under the 1933 Act and
                effectively disposed of in accordance with a registration statement,
                or
                (2) in the opinion of counsel reasonably satisfactory to the Company
                such
                securities may be sold without registration under the 1933
                Act:

            

    

    

    
      
        
        

      

      
        -2-

        
          

        

      

      
        
        

      

    

    “THESE
      SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED
      (THE "1933 ACT"), OR THE "BLUE SKY" OR SECURITIES LAWS OF ANY STATE AND MAY
      NOT
      BE OFFERED, SOLD, PLEDGED, HYPOTHECATED, ASSIGNED OR TRANSFERRED EXCEPT (i)
      PURSUANT TO A REGISTRATION STATEMENT UNDER THE 1933 ACT WHICH HAS BECOME
      EFFECTIVE AND IS CURRENT WITH RESPECT TO THESE SECURITIES, OR (ii) PURSUANT
      TO A
      SPECIFIC EXEMPTION FROM REGISTRATION UNDER THE 1933 ACT BUT ONLY UPON A HOLDER
      THEREOF FIRST HAVING OBTAINED THE WRITTEN OPINION OF COUNSEL REASONABLY
      SATISFACTORY TO THE COMPANY, THAT THE PROPOSED DISPOSITION IS CONSISTENT WITH
      ALL APPLICABLE PROVISIONS OF THE 1933 ACT AS WELL AS ANY APPLICABLE "BLUE SKY"
      OR SIMILAR SECURITIES LAWS."

    

    
      	 	
              (n)

            	
              You
                understand that in the absence of registration by the Company, the
                Securities will not be, and, except as set forth below, you will
                have no
                rights to require that the Securities shall be, registered under
                the 1933
                Act or any state securities laws; you may have to hold the Securities
                indefinitely and it may not be possible for you to liquidate your
                investment in the Company; and you should not purchase any Securities
                unless you can afford a complete loss of your investment and bear
                the
                burden of such loss for an indefinite period of
                time.

            

    

    

    
      	 	
              4.

            	
              Registration
                Rights.

            

    

    

    
      	 	
              (a)

            	
              At
                any time after the date hereof, in the event that the Company shall
                determine to proceed with the actual preparation and filing of a
                registration statement under the 1933 Act in connection with the
                proposed
                initial public offer and sale of any of its Shares by it or by any
                of its
                security holders (other than a registration statement on Form S-4,
                S-8 or
                other successor or comparable forms), the Company, on one occasion
                only,
                will give written notice of its determination (the “Piggyback
                Notice”)
                to you at least forty-five (45) days prior to filing such registration
                statement. Upon your written request within thirty (30) days after
                the
                giving of the Piggyback Notice, the Company will cause such Securities
                to
                be included in such registration statement, all to the extent required
                to
                permit the sale or other disposition by you of the Securities to
                be so
                registered; provided, that nothing herein shall prevent the Company
                from,
                at any time, abandoning or delaying any such Company initiated
                registration. If any registration pursuant to this Section 4 shall
                be
                underwritten in whole or in part, the Company may require that the
                Securities requested for inclusion pursuant to this Section 4 be
                included
                in the underwriting on the same terms and conditions as the securities
                otherwise being sold through the underwriter(s). In the event that
                in the
                good faith judgment of the managing underwriter of such public offering
                the inclusion of all of the Securities originally covered by a request
                for
                registration pursuant to this Section 4 would materially and adversely
                affect the successful marketing of the securities offered by the
                Company
                through a managing underwriter, the number of Securities otherwise
                to be
                included in the underwritten public offering may be reduced as required
                by
                the managing underwriter, the securities so included to be apportioned
                pro
                rata among the selling security holders according to the total amount
                of
                securities entitled to be included therein owned by each selling
                security
                holder or in such other proportions as shall mutually be agreed to
                by such
                selling security holders.

            

    

    

    
      	 	
              (b)

            	
              All
                fees, costs and expenses of and incidental to the registration of
                the
                Securities, shall be borne by the Company; provided,
                however,
                that you shall bear your share of the underwriting discount, if any,
                and
                commissions and transfer taxes, and any professional fees or costs
                of
                accounting, financial or legal advisors engaged by
                you.

            

    

    

    
      	 	
              (c)

            	
              You
                agree to execute any lock-up agreement signed by the Company’s executive
                officers in connection with the registration
                statement.

            

    

    

    
      	 	
              5.

            	
              Put.
                If the registration statement relative to the Securities has not
                been
                declared effective within 12 months of the date of this letter agreement,
                then you may, on 30 days’ notice to the Company, require the Company to
                repurchase the Securities for a purchase price of
                $48,000.

            

    

    

    
      
        
        

      

      
        -3-

        
          

        

      

      
        
        

        

        
          	 	
                  6.

                	
                  Miscellaneous.

                

        

      

    

    

    
      	 	
              (c)

            	
              This
                letter agreement shall be binding upon and inure to the benefit of
                the
                parties hereto and their respective representatives, successors and
                assigns.

            

    

    

    
      	 	
              (b)

            	
              No
                provision of this letter agreement may be amended, modified, or waived,
                except in writing and signed by the party against whom enforcement
                is
                sought.

            

    

    

    
      	 	
              (c)

            	
              This
                letter agreement shall be governed by, and construed in accordance
                with,
                the law of the State of Nevada applicable to agreements made and
                to be
                performed wholly therein. Any proceeding with respect to the construction
                or enforcement of this letter agreement shall be brought in a state
                or
                federal court located in the Carson City or Las Vegas,
                Nevada.

            

    

    

    
      
        
        

      

      
        -4-

        
          

        

      

      
        
        

      

    

    This
      letter agreement may be executed in counterparts.

     

    
      	 	 	 
	 	
              Sincerely,

              Phoenix Aerospace, Inc.

            
	 
 	 
 	 
 
	: 	By:  	/s/ Zahir
              Teja
	 	
              
Zahir
              Teja
	 	President

      	 	 	 
	 	 
	 	Read,
              accepted and
              agreed to:
	 
 	 
 	 
 
	: 	By:  	/s/ Teja
              N.
              Shariff
	 	
              
Teja
              N. Shariff
	 	 

    
      
        
        

      

      
        -5-

        
          

        

      

      
        
        

      

    

    Exhibit
      A

    Note

    

    

    
      
        
        

      

      
        -6-Exhibit 10.6

    Exhibit
      10.6

    PHOENIX
      INTERNATIONAL VENTURES, INC.

    

    EMPLOYMENT
      AGREEMENT

    

    EMPLOYMENT
      AGREEMENT
      (this
“Agreement”)
      made
      as of this 14th day of December, 2006 by and between
      PHOENIX INTERNATIONAL VENTURES, INC.,
      a
      Nevada corporation, having an office at 2201 Lockheed Way, Carson City, Nevada
      89706 ("Employer")
      and
Zahir
      Teja,
      an
      individual residing at 6776 N. Drexel Dr., Sparks, NV 89436 ("Executive");

    

    W
      I T N E S S E T H:

    

    WHEREAS,
      Employer desires to employ Executive as the Chief Executive Officer and
      President of Employer; and

    

    WHEREAS,
      Executive is willing to be employed as the Chief Executive Officer and President
      of Employer in the manner provided for herein, and to perform the duties of
      the
      Chief Executive Officer and President of Employer upon the terms and conditions
      herein set forth;

    

    NOW,
      THEREFORE,
      in
      consideration of the promises and mutual covenants herein set forth it is agreed
      as follows:

    

    1. Employment.
      Effective the Effective Date (herein defined), Employer hereby employs Executive
      as Chief Executive Officer and President.

    

    2. Term.
      Subject
      to Section 9 and Section 10 below, the term of this Agreement shall be for
      a
      period of thirty six (36) months commencing on the Effective Date (the
“Term”).
      The
      Term of this Agreement shall be automatically extended for additional one (1)
      year periods, unless either party notifies the other in writing at least ninety
      (90) days prior to the expiration of the then existing Term of its intention
      not
      to extend the Term.

    

    The
      Effective Date shall mean the earlier of (i) ninety (90) days after filing
      of a
      registration statement concerning Employer’s common stock with the Securities
      and Exchange Commission (“SEC”)
      and
      (ii) the SEC’s declaration of the effectiveness of such registration
      statement.

    

    3. Duties.

    

    (a) The
      Executive shall perform those functions generally performed by persons of such
      title and position, including, without limitation, responsibilities concerning
      financial management, plant management, sales management, public company
      management, human resource management, communication with government, customers
      and other business relationships, strategic planning, and contract negotiations,
      shall attend all meetings of the stockholders and the Board, shall perform
      any
      and all related duties and shall have any and all powers as may be prescribed
      by
      resolution of the Board, and shall be available to confer and consult with
      and
      advise the officers and directors of Employer at such times that may be required
      by Employer. Executive shall report directly and solely to the
      Board.

    

    
      
         

      

      
        -1-

        
          

        

      

      
         

      

    

    (b) Executive’s
      employment by Employer shall be full-time, and during the Term, Executive agrees
      that he will (i) devote all of his business time and attention, his best
      efforts, and all his skill and ability to promote the interests of Employer,
      and
      if, as, and when requested, the interests of Employer’s affiliates, and (ii)
      carry out his duties and work with other employees of Employer in a competent
      and professional manner. Notwithstanding the foregoing, Executive, with the
      consent of Employer, which consent shall not be unreasonably withheld, may
      engage other business activities.

    

    (c) Executive
      agrees that, for no additional compensation, he will serve as a member of
      Employer’s Board.

    

    4. Compensation/Stock
      Options.

    

    (a) (i)
      Executive shall be paid a minimum of (A) $120,000 per year during the first
      twelve (12) months of the Term; (B) $180,000 per year during the second twelve
      (12) months of the Term; and (C) not less than $180,000 per year during the
      third twelve (12) months of the Term. Executive shall be paid periodically
      in
      accordance with the policies and procedures of the Employer during the Term,
      but
      not less than monthly. In this regard, if Employer does not have sufficient
      cash
      flow to pay Executive his compensation that is due and payable hereunder in
      accordance with this Agreement’s terms, Employer shall so notify Executive of
      this circumstance and shall be entitled to suspend periodic payments of
      Executive’s compensation. Executive’s compensation will nevertheless continue to
      accrue and will be shown on Employer’s books and financial statements as a debt
      of Employer. When Employer has sufficient cash flow, it shall promptly pay
      Executive his accrued but unpaid compensation and recommence periodic payments
      of compensation under this Agreement.

    

    (ii) Executive
      is eligible for an annual increase (but not decrease) in his base compensation,
      which will be determined by the Board and paid in accordance with policies
      and
      procedures set from time-to-time by the Board.

    

    (iii) Executive
      shall be entitled to receive annually a bonus and success fee calculated as
      follows: the product of (A) one percent (1%) and (B) all revenues from
      Employer’s operations in excess of $4,000,000. The bonus and success fee shall
      not exceed $130,000 during any twelve month period and shall be based on the
      calculations contained in the Employer’s audited financial statements prepared
      by the Employer’s then engaged independent accountants. Executive shall be paid
      the bonus and success fee within thirty (30) days of the issuance of Employer’s
      audited financial statements.

    

    (iv) The
      Board
      shall from time-to-time consider other incentive programs, without duplication,
      for Executive, which are customary for executive officers similarly situated
      in
      Employer’s industry.

    

    (b) Employer
      shall include Executive in its health insurance program available to Employer's
      executive officers and shall pay 100% of the premiums for such
      program.

    

    (c) Executive
      shall have the right to participate in any other employee benefit plans
      established by Employer.

    

    
      
         

      

      
        -2-

        
          

        

      

      
         

      

    

    (d) Executive
      shall receive such other benefits such as life insurance and disability
      insurance, which are customary for executive officers similarly situated in
      Employer’s industry, as deemed appropriate by the Board.

    

    (e) Executive
      shall be issued an option to purchase up to 660,000 shares of Employer’s common
      stock. The aggregate purchase price for the common stock is $330,000. The
      exercise price shall be $.50 per share, which the parties agree is the fair
      market value of the common stock on the Effective Date hereof. This option
      shall
      expire December 31, 2010 and shall vest immediately upon issuance. The option
      and the underlying shares of common stock issuable upon exercise of the option
      (the “Option
      Shares”)
      shall
      be subject to the customary restrictions on transfer. Provided Executive
      provides Employer with the customary ‘investor rep’ letter and the transfer
      otherwise complies with federal and state securities law, he may transfer the
      all or a portion of the Option Shares to an entity with respect to which
      Executive and his affiliates control.

    

    5.  Expenses.
      Executive shall be reimbursed for all of his actual, out-of-pocket, ordinary
      and
      necessary expenses incurred in the performance of his duties hereunder. Such
      expenses must be previously approved by Employer and must be otherwise
      acceptable to Employer, which approval shall not be unreasonably withheld.
      Executive shall submit to Employer reasonably detailed receipts with respect
      thereto.

    

    6. Vacation. Executive
      shall be entitled to receive four (4) weeks paid vacation time after each year
      of employment upon dates agreed upon by Employer. Upon separation of employment,
      for any reason, vacation time accrued and not used shall be paid at the salary
      rate of Executive in effect at the time of employment separation.

    

    7. Secrecy.
      At no
      time shall Executive disclose to anyone any confidential or secret information
      (not already constituting information available to the public) concerning the
      internal affairs, business operations, and trade secrets of Employer. To this
      end, Executive shall execute and deliver Employer’s Agreement Relating to
      Inventions, Patents, Copyrights, and Confidential Information (Including
      Covenant against Competing Employment).

    

    8.  Covenant
      Not to Compete.

    (a) Subject
      to, and limited by, Section 10(b), Executive will not, at any time, during
      the
      Term, and for one (1) year thereafter, either directly or indirectly, engage
      in,
      with or for any enterprise, institution, whether or not for profit, business,
      or
      company, competitive with the business (as identified herein) of Employer as
      such business may be conducted on the date thereof or on the date of the
      termination of this Agreement for any reason, as a creditor, guarantor, or
      financial backer, stockholder, director, officer, consultant, advisor, employee,
      member, or otherwise of or through any corporation, partnership, association,
      sole proprietorship or other entity; provided, that an investment by Executive,
      his spouse or his children is permitted if such investment is not more than
      two
      percent (2%) of the total debt or equity capital of any such competitive
      enterprise or business and further provided that said competitive enterprise
      or
      business is a publicly held entity whose stock is listed and traded on a
      national stock exchange, the NASDAQ Stock Market, or the over-the-counter
      bulletin board or any successor thereto. As used in this Agreement, the business
      of Employer shall be the business of manufacturing, upgrading and
      remanufacturing of ground support equipment for the defense-aerospace
      industry.

    

    (b) For
      a
      period one (1) year from the date of termination of this agreement Executive
      shall not contact or solicit any of the Employer’s dealers, customers, employees
      or suppliers.

    

    
      
         

      

      
        -3-

        
          

        

      

      
         

      

    

    9. Termination.

    

    (a) Termination
      by Employer

    

    (i) Employer
      may terminate this Agreement upon written notice for Cause. For purposes hereof,
      "Cause" shall mean (A) Executive's misconduct as could reasonably be expected
      to
      have a material adverse effect on the business and affairs of Employer, (B)
      the
      Executive's disregard of lawful instructions of Employer’s Board of Directors
      consistent with Executive's position relating to the business of Employer or
      neglect of duties or failure to act, which, in each case, could reasonably
      be
      expected to have a material adverse effect on the business and affairs of
      Employer, (C) engaging by the Executive in conduct that constitutes activity
      in
      competition with Employer, (D) the conviction of Executive for the commission
      of
      a felony, and/or (E) the habitual abuse of alcohol or controlled substances.
      Notwithstanding anything to the contrary in this Section 9(a)(i), Employer
      may
      not terminate Executive's employment under this Agreement for Cause unless
      Executive shall have first received notice from the Board advising Executive
      of
      the specific acts or omissions alleged to constitute Cause, and such acts or
      omissions continue after Executive shall have had a reasonable opportunity
      (at
      least 10 days from the date Executive receives the notice from the Board) to
      correct the acts or omissions so complained of. If this Agreement is terminated
      for Cause, Employer shall have no further obligation to compensate Executive
      pursuant to Section 4 above as of the date of termination, except for salary
      and
      bonus accrued by the Executive as of the date of termination.

    

    (ii) This
      Agreement automatically shall terminate upon the death of Executive, except
      that
      Executive's estate shall be entitled to receive any amount accrued under Section
      4.

    

    (b) Termination
      by Executive

    

    (i) Executive
      shall have the right to terminate his employment for “Good Reason” under this
      Agreement upon 30 days' notice to Employer given within 90 days following the
      occurrence of any of the following events (A) through (F):

    

    (A) Executive
      is not elected or retained as Chief Executive Officer and
      President.

    (B) Employer
      acts to materially reduce Executive's duties and responsibilities hereunder.
      Executive's duties and responsibilities shall not be deemed materially reduced
      for purposes hereof solely by virtue of the fact that Employer is (or
      substantially all of its assets are) sold to, or is combined with, another
      entity, provided that Executive shall continue to have the same duties and
      responsibilities with respect to Employer's business, and Executive shall report
      directly to the chief executive officer and/or board of directors of the entity
      (or individual) that acquires Employer or its assets.

    

    (C) Employer
      acts to change the geographic location of the performance of Executive's duties
      from the Carson City, Nevada area. For purposes of this Agreement, the Carson
      City, Nevada area shall be deemed to be the area within 100 miles of the current
      address of the Employer as set forth above.

    

    (D) A
      Material Reduction (as hereinafter defined) in Executive's rate of base
      compensation, or Executive's other benefits. "Material
      Reduction"
      shall
      mean a ten percent (10%) differential;

    

    
      
         

      

      
        -4-

        
          

        

      

      
         

      

    

    (E) A
      failure
      by Employer to obtain the assumption of this Agreement by any successor;
      or

    

    (F) A
      material breach of this Agreement by Employer, which is not cured within thirty
      (30) days of written notice of such breach by Employer.

    

    (ii) Anything
      herein to the contrary notwithstanding, Executive may terminate this Agreement
      upon ninety (90) days written notice.

    

    (iii) If
      Executive shall terminate this Agreement under Section 9(b)(i)(A)-(F), Executive
      shall be entitled to receive six (6) months salary. Other than the foregoing
      payment, Employer shall have no further obligation to compensate Executive
      pursuant to Section 4 above. If
      Executive shall terminate this Agreement pursuant to Section 9(b)(ii), Executive
      shall only be entitled to any accrued and unpaid base compensation as of the
      date of termination as provided in Section 4(a).

    

    
      	 	
              10.

            	
              Consequences
                of Breach by Employer; Employment
                Termination

            

    

    

    (a) If
      Employer shall terminate Executive's employment under this Agreement, without
      Cause, or in any way that is a breach of this Agreement by Employer, the
      following shall apply:

    (i) Executive
      shall be entitled to payment of six (6) months salary; and

    

    (ii) Executive
      shall be entitled to payment of any previously declared bonus as provided in
      Section 4 above.

    

    (b) In
      the
      event of termination of Executive's employment pursuant to Section 9(b)(i)
      of
      this Agreement, the provisions of Section 8 shall not apply to
      Executive.

    

    
      
         

      

      
        -5-

        
          

        

      

      
         

      

    

    11. Enforceability.
      Executive
      acknowledges that certain of the provisions contained in this Agreement,
      including but not limited to those contained in Section 7 and Section 8 hereof,
      are intended to protect Employer, and accordingly each employee of Employer
      shall be deemed a third party beneficiary with respect to such provisions and
      shall have the right to enforce such provisions as appropriate. The failure
      of
      any party at any time to require performance by another party of any provision
      hereunder shall in no way affect the right of that party thereafter to enforce
      the same, nor shall it affect any other party’s right to enforce the same, or to
      enforce any of the other provisions in this Agreement; nor shall the waiver
      by
      any party of the breach of any provision hereof be taken or held to be a waiver
      of any subsequent breach of such provision or as a waiver of the provision
      itself.

    

    12. No
      Conflict.
      Executive
      represents and warrants that Executive is not subject to any agreement,
      instrument, order, judgment or decree of any kind, or any other restrictive
      agreement of any character, which would prevent him from entering into this
      Agreement or which would be breached by Executive upon his/her performance
      of
      his/her duties pursuant to this Agreement.

    

    13. Attorneys'
      Fees and Costs.
      If any
      action at law or in equity is necessary to enforce or interpret the terms of
      this Agreement, the prevailing party shall be entitled to reasonable attorney's
      fees, costs and necessary disbursements in addition to any other relief to
      which
      he may be entitled.

     

    14. Entire
      Agreement; Survival.
      This
      Agreement contains the entire agreement between the parties with respect to
      the
      transactions contemplated herein and supersedes, effective as of the date hereof
      any prior agreement or understanding between Employer and Executive with respect
      to Executive's employment by Employer. The unenforceability of any provision
      of
      this Agreement shall not effect the enforceability of any other provision.
      This
      Agreement may not be amended except by an agreement in writing signed by the
      Executive and the Employer, or any waiver, change, discharge or modification
      as
      sought. Waiver of or failure to exercise any rights provided by this Agreement
      and in any respect shall not be deemed a waiver of any further or future
      rights.

    

    15. Assignment.
      This
      Agreement shall not be assigned to other parties, except in the event of the
      sale of all of Employer’s business and the assumption in writing of Employer’s
      obligations hereunder by the purchaser of Employer’s business. Notwithstanding
      the foregoing, Executive may assign his right to receive compensation hereunder
      to one of his affiliates.

    

    16.  Governing
      Law.
      This
      Agreement and all the amendments hereof, and waivers and consents with respect
      thereto shall be governed by the internal laws of the State of Nevada, without
      regard to the conflicts of laws principles thereof.

    

    17. Notices.
      All
      notices, responses, demands or other communications under this Agreement shall
      be in writing and shall be deemed to have been given when 

    

    (a) delivered
      by hand;

    

    (b) three
      business days after being sent by registered or certified mail, return receipt
      requested; or 

    

    
      
         

      

      
        -6-

        
          

        

      

      
         

      

    

    (c) received
      by the addressee as sent be express delivery service (receipt requested) in
      each
      case to the appropriate addresses as the party may designate to itself by notice
      to the other parties: 

    

    (i)
      if to
      the Employer:

    

    Phoenix
      International Ventures, Inc.

    2201
      Lockheed Way

    Carson
      City, Nevada 89706

    Attention:
      Neev Nissenson

    

    Gersten
      Savage LLP

    600
      Lexington Avenue, 9th Floor

    New
      York,
      New York 10022

    Attention:
      Arthur S. Marcus, Esq.

    

    (ii)
      if
      to the Executive:

    

    Zahir
      Teja

    6776
      N.
      Drexel Dr.

    Sparks,
      NV 89436

     

    
 

    18. Severability
      of Agreement.
      Should
      any part of this Agreement for any reason be declared invalid by a court of
      competent jurisdiction, such decision shall not affect the validity of any
      remaining portion, which remaining provisions shall remain in full force and
      effect as if this Agreement had been executed with the invalid portion thereof
      eliminated, and it is hereby declared the intention of the parties that they
      would have executed the remaining portions of this Agreement without including
      any such part, parts or portions which may, for any reason, be hereafter
      declared invalid.

    

    19. Withholdings.
      Employer
      may withhold from any amounts payable under this Agreement such Federal, state
      or local taxes as shall be required to be withheld pursuant to any applicable
      law or regulation.

    

    [Signatures
      on the following page]

    
      
         

      

      
        -7-

        
          

        

      

      
         

      

    

    

    IN
      WITNESS WHEREOF,
      each of
      the undersigned has executed this Employment Agreement as of the day and year
      first above written.

    
      	 	 	 
	 	PHOENIX
              INTERNATIONAL VENTURES, INC.
	 
 	 
 	 
 
	
            	By:  	/s/ Neev
              Nissenson
	 	
              
Neev
              Nissenson
	 	Vice
              President

      	 	 	 
	 	
            
	 
 	 
 	 
 
	
            	By:  	/s/ Zahir
              Teja
	 	
              
Zahir
              Teja
	 	 

    

     

     

    
      
         

      

      
        -8-

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