Document:

itlinkz8k060407ex10-b.htm

    
      

      

    

    
      

      CERTIFICATE
        OF DESIGNATION

      

      SERIES
        B
        CONVERTIBLE PREFERRED STOCK

      ($.001
        Par Value)

      of

      

      ITLINKZ
        GROUP, INC.

      

      Pursuant
        to Section 151 of the Delaware General Corporation Law

       

      
        
          

        

      

      

      itLinkz
        Group, Inc., a corporation organized and existing under the law of the State
        of
        Delaware (the "Corporation"), in accordance with the provisions of Section
        151
        of the General Corporation Law, DOES HEREBY CERTIFY as follows:

      

      That
        pursuant to the authority conferred upon the Board of Directors by the
        Certificate of Incorporation of the Corporation, as amended (“Certificate of
        Incorporation”), the Board of Directors of the Corporation by resolution adopted
        by written consent in lieu of meeting dated June __, 2007, adopted the following
        resolution creating a series of 1000 shares of Preferred Stock, $.001 par
        value
        per share, designated as Series B Convertible Preferred Stock:

      

      Section
        1. Designation and Amount. The shares of such series shall be designated
        as
“Series B Convertible Preferred Stock” and the number of shares constituting
        such series shall be 1000. Such number of shares may be increased or decreased
        by resolution of the Board of Directors; provided, however, that no decrease
        shall reduce the number of shares of Series B Convertible Preferred Stock
        to a
        number less than the number of shares then outstanding plus the number of
        shares
        reserved for issuance upon the exercise of outstanding options, rights or
        warrants or upon the conversion of any outstanding securities issued by the
        Corporation convertible into Series B Convertible Preferred Stock.

      

      Section
        2. Dividends and Distributions. 

      

      (A)
        Ordinary Cash Dividends. In the event the Corporation declares a dividend
        payable in cash to holders of any class of stock, the holder of each share
        of
        Series B Convertible Preferred Stock shall be entitled to receive a dividend
        equal in amount and kind to that payable to the holder of the number of shares
        of the Corporation's common stock (“Common Stock”) into which that holder's
        Series B Convertible Preferred Stock could be converted on the record date
        for
        the dividend. 

      

      (B)
        Ordinary Stock Dividends. In the event the Corporation declares an ordinary
        dividend payable in stock to holders of any class of stock, the holder of
        each
        share of Series B Convertible Preferred Stock shall be entitled to receive
        a
        dividend equal in amount and kind to that payable to the holder of the number
        of
        shares of Common Stock into which that holder's Series B Convertible Preferred
        Stock could be converted on the record date for the dividend. 

      

      
        
          
          

        

        
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      (C)
        Liquidation. Upon the liquidation, dissolution and winding up of the
        Corporation, the holders of the Series B Convertible Preferred Stock shall
        be
        entitled to receive in cash out of the assets of the Corporation, whether
        from
        capital or from earnings available for distribution to its stockholders,
        before
        any amount shall be paid to the holders of Common Stock, the sum of One Cent
        ($.01) per share, after which the holders of Series B Convertible Preferred
        Stock shall share in the distribution with the holders of the Common Stock
        on a
        pari passu basis, except that in determining the appropriate distribution
        of
        available cash among the shareholders, each share of Series B Convertible
        Preferred Stock shall be deemed to have been converted into the number of
        shares
        of Common Stock into which that holder’s Series B Convertible Preferred Stock
        could be converted on the record date for the distribution. 

       

      Section
        3. Voting Rights. The holders of shares of Series B Convertible Preferred
        Stock
        shall have the following voting rights: Each share of Series B Convertible
        Preferred Stock shall entitle the holder thereof to cast on all matters
        submitted to a vote of the stockholders of the Corporation that number of
        votes
        which equals the number of shares of Common Stock into which such holder's
        shares of Series B Convertible Preferred Stock are convertible, as determined
        under Section 8 hereof, on the record date for the stockholder action.

      

      Section
        4. Reacquired Shares. Any shares of Series B Convertible Preferred Stock
        purchased or otherwise acquired by the Corporation in any manner whatsoever
        shall be retired and cancelled promptly after the acquisition thereof. All
        such
        shares shall upon their cancellation become authorized but unissued shares
        of
        Preferred Stock and may be reissued as part of a new series of Preferred
        Stock
        to be created by resolution or resolutions of the Board of Directors, subject
        to
        the conditions and restrictions on issuance set forth herein.

      

      Section
        5. Redemption. At any time after June 30, 2008, the Corporation shall be
        entitled to redeem the shares of Series B Convertible Preferred Stock by
        giving
        written notice to the registered holders thereof not less than 15 days nor
        more
        than 60 days prior to the redemption date. Each such notice shall state (1)
        the
        redemption date, (2) the number of shares to be redeemed from each holder,
        and
        (3) the place where certificates for the Series B Convertible Preferred Stock
        are to be surrendered. Upon surrender in accordance with said notice of
        certificates for the shares to be redeemed, such shares shall be redeemed
        at a
        price of $.001 per share. Notice having been given, upon the redemption date
        (unless the Corporation shall default in paying the redemption price), said
        shares shall no longer be deemed to be outstanding.

      

      Section
        6. Voting on Amendment. The Certificate of Incorporation of the Corporation
        shall not be further amended, nor shall any resolution of the directors be
        adopted after the adoption of this Certificate of Designation that in any
        manner
        would materially alter or change the powers, preferences or special rights
        of
        the Series B Convertible Preferred Stock so as to affect them adversely without
        the affirmative vote of the holders of at least seventy-five percent of the
        outstanding shares of Series B Convertible Preferred Stock, voting together
        as a
        single class.

      

      Section
        7. No Impairment. The Corporation will not, by amendment of its Articles
        of
        Incorporation or adoption of a directors’ resolution or by any other means or
        through any reorganization, recapitalization, transfer of assets, consolidation,
        merger, dissolution, issue or sale of securities or any other voluntary action,
        avoid or seek to avoid the observance or performance of any of the terms
        to be
        observed or performed hereunder by the Corporation but will at all times
        in good
        faith assist in the carrying out of all the provisions of this Certificate
        of
        Designation and in the taking of all such action as may be necessary or
        appropriate in order to protect the Conversion Rights of the holders of the
        Series B Convertible Preferred Stock against impairment.

      

      
        
          
          

        

        
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      Section
        8. Conversion. The holders of the Series B Convertible Preferred Stock shall
        have the following rights with respect to the conversion of the Series B
        Convertible Preferred Stock into shares of Common Stock (the "Conversion
        Rights"):

      

      (A)
        Conversion. Subject to and in compliance with the provisions of this Section
        8,
        any shares of Series B Convertible Preferred Stock may at any time, at the
        option of the holder, be converted into fully paid and nonassessable shares
        of
        Common Stock (a “Conversion”). The number of shares of Common Stock to which a
        holder of Series B Convertible Preferred Stock shall be entitled upon a
        Conversion shall be the product obtained by multiplying the number of shares
        of
        Series B Convertible Preferred Stock being converted by eight hundred nine
        thousand, eight hundred sixty six and twenty three hundredths (809,866.23)
        (“Adjustment Number”).

      

      (B)
        Dividend Payable in Shares of Stock. In the event the Corporation shall at
        any
        time declare or pay any dividend on Common Stock payable in shares of Common
        Stock, then the Adjustment Number in effect immediately prior to such event
        shall be adjusted by multiplying such Adjustment Number by a fraction, the
        numerator of which is the number of shares of Common Stock outstanding
        immediately after such event and the denominator of which is the number of
        shares of Common Stock that were outstanding immediately prior to such
        event.

      

      (C)
        Consolidation, Merger, etc. In case the Corporation shall enter into any
        consolidation, merger, reorganization, or other transaction in which the
        shares
        of Common Stock are exchanged for or changed into other stock or securities,
        cash and/or any other property, then in any such case the Conversion Rights
        of
        Series B Convertible Preferred Stock shall at the same time be modified such
        that, upon Conversion of a share of Series B Convertible Preferred Stock,
        the
        holder shall receive the product of the Adjustment Number times the aggregate
        amount of stock, securities, cash and/or any other property (payable in kind),
        as the case may be, into which or for which each share of Common Stock is
        changed or exchanged. 

      

      (D)
        Adjustment for Reclassification, Exchange and Substitution. At any time or
        times
        the Common Stock issuable upon the conversion of the Series B Convertible
        Preferred Stock is changed into the same or a different number of shares
        of any
        class or classes of the Corporation’s stock, whether by recapitalization,
        combination, consolidation, reclassification or otherwise, in any such event
        the
        Adjustment Number shall be changed proportionately to the change in the number
        of shares of Common Stock resulting from the recapitalization, reclassification
        or other change. 

       

      (E)
        Mechanics of the Conversion. Upon a Conversion, the holder of Series B
        Convertible Preferred Stock shall surrender the certificate or certificates
        therefor, duly endorsed, at the office of the Corporation, together with
        a
        completed Notice of Conversion in the Form of Exhibit A. Thereupon, the
        Corporation shall promptly issue and deliver to such holder a certificate
        or
        certificates for the number of shares of Common Stock to which such holder
        is
        entitled. The Conversion shall be deemed to have been made at the close of
        business on the date of such surrender of the certificates representing the
        shares of Series B Convertible Preferred Stock to be converted. The person
        entitled to receive the shares of Common Stock issuable upon a Conversion
        shall
        be treated for all purposes as the record holder of such shares of Common
        Stock
        on such date.

      

      (F)
        Reservation of Stock Issuable Upon Conversion. The Corporation shall at all
        times reserve and keep available out of its authorized but unissued shares
        of
        Common Stock, solely for the purpose of effecting the conversion of the shares
        of the Series B Convertible Preferred Stock, such number of its shares of
        Common
        Stock as shall from time to time be sufficient to effect the conversion of
        all
        outstanding shares of the Series B Convertible Preferred Stock. If at any
        time
        the number of authorized but unissued shares of Common Stock shall not be
        sufficient to effect the conversion of all then outstanding shares of the
        Series
        B Convertible Preferred Stock, the Corporation shall, at the request of any
        holder of Series B Convertible Preferred Stock, take such corporate action
        as
        may, in the opinion of its counsel, be necessary to increase its authorized
        but
        unissued shares of Common Stock to such number of shares as shall be sufficient
        for such purpose.

      

      
        
          
          

        

        
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      Section
        9. Notices of Record Date. Upon (i) any taking by the Corporation of a record
        of
        the holders of any class of securities for the purpose of determining the
        holders thereof who are entitled to receive any dividend or other distribution,
        or (ii) any sale of the Corporation, capital reorganization of the Corporation,
        any reclassification or recapitalization of the capital stock of the
        Corporation, or any voluntary or involuntary dissolution, liquidation or
        winding
        up of the Corporation, the Corporation shall mail to each holder of Series
        B
        Convertible Preferred Stock at least twenty (20) days prior to the record
        date
        specified therein a notice specifying (A) the date on which any such record
        is
        to be taken for the purpose of such dividend or distribution and a description
        of such dividend or distribution, (B) the date on which any such sale of
        the
        Corporation, reorganization, reclassification, recapitalization, dissolution,
        liquidation or winding up is expected to become effective, and (C) the date,
        if
        any, that is to be fixed as to when the holders of record of Common Stock
        (or
        other securities) shall be entitled to exchange their shares of Common Stock
        (or
        other securities) for securities or other property deliverable upon such
        sale of
        the Corporation, reorganization, reclassification, recapitalization,
        dissolution, liquidation or winding up.

      

      Section
        10. Notices. Any notice required by the provisions of this Certificate of
        Designation shall be in writing and shall be deemed effectively given: (i)
        upon
        personal delivery to the party to be notified, (ii) when sent by confirmed
        facsimile if sent during normal business hours of the recipient; if not,
        then on
        the next business day, or (iii) one (1) day after deposit with a nationally
        recognized overnight courier, specifying next day delivery, with written
        verification of receipt. All notices shall be addressed to each holder of
        record
        at the address of such holder appearing on the books of the
        Corporation.

      

      IN
        WITNESS WHEREOF, the Corporation has caused this Certificate of Designation
        to
        be signed by its duly authorized officer this ____ day of June,
        2007.

      

      

      ITLINKZ
        GROUP, INC.

      

      

                                                                     
        

      Jeremy
        P.
        Feakins 

      Chief
        Executive Officer 

      

      

      

      

      

      
        
          
          

        

        
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      Exhibit
        A

      NOTICE
        OF
        CONVERSION

      

      Reference
        is made to the Certificate of Designation of SERIES B CONVERTIBLE PREFERRED
        STOCK dated June ____ 2007 (the "Certificate of Designation"), of ITLINKZ
        GROUP,
        INC., a Delaware corporation (the "Corporation"). In accordance with and
        pursuant to the Certificate of Designation, the undersigned hereby elects
        to
        convert the number of shares of Series B Convertible Preferred Stock, par
        value
        $0.001 per share (the “Preferred Shares”) indicated below into shares of Common
        Stock, par value $0.001 per share (the "Common Stock"), of the Company, by
        tendering the stock certificate(s) representing the Preferred Shares specified
        below as of the date specified below.

      

      Date
        of
        Conversion:________________________________

      

      Number
        of
        Preferred Shares to be converted:_________________________________

      

      Please
        confirm the following information:

      

      Number
        of
        shares of Common Stock to be issued:_____________________________

      

      Please
        issue the Common Stock into which the Preferred Shares are being converted
        in
        the following name and to the following address:

      

      Issue
        to:__________________________________

      

      Address:__________________________________

      

      __________________________________

      

      Facsimile
        Number:__________________________________

      

      Authorization:__________________________________

      

      By:
        ___________________________

      

      Title:
        ___________________________

      

      

      

      

      

      

      

      5itlinkz8k060407ex10-c.htm

    
      

      

    

    

      ASSIGNMENT
        AND ASSUMPTION

      and

      MANAGEMENT
        AGREEMENT

      

      This
        Assignment and Assumption and Management Agreement (this “Agreement”) is made
        and entered into on June __, 2007, by and among the following parties (each,
        a
“Party” and collectively, the “Parties”): itLinkz Group, Inc., a Delaware
        corporation (the “Company”), itLinkz Corporation, a Delaware corporation (the
“Subsidiary”) and Jeremy P. Feakins (the “Manager”).

      

      WHEREAS,
        the
        Company is engaged in the business of developing a series of social and business
        networking community websites which will allow members to build online
        communities, as further described below (the “Business”); and 

      

      WHEREAS,
        the
        Company operates the Business on leased premises located at 1800 Fruitville
        Pike, Suite 200, Lancaster, PA (the “Premises”); and 

      

      WHEREAS,
        the
        Company has caused the Subsidiary to be formed and organized as the Company’s
        wholly owned subsidiary; and 

      

      WHEREAS,
        the
        Company desires to transfer all of the assets of the Business to the Subsidiary
        and to cause the Subsidiary to assume all liabilities and obligations of
        the
        Company accrued as of the time of Closing, as more fully described herein;
        and

      

      WHEREAS,
        the
        Manager has agreed to guarantee personally the obligations to the Company
        assumed by the Subsidiary, including the liabilities assumed and the
        indemnification obligation described herein; and 

      

      WHEREAS,
        on
        the
        date of and immediately following the closing of the transactions contemplated
        by this Agreement, the Company intends to consummate the closing of a share
        purchase and merger pursuant to the terms of a Share Purchase and Merger
        Agreement dated June 1, 2007 (the “Merger Agreement”) by and among the Company,
        Landway Nano Bio-Tech, Inc. and others; and

      

      WHEREAS,
        as a
        condition to consummation of the merger pursuant to the Merger Agreement,
        the
        Manager, who is the sole officer of the Company, must resign from his position
        in management of the Company; and

      

      WHEREAS,
        the
        Subsidiary wishes to engage the Manager, and the Manager wishes to be engaged,
        to manage and operate the business of the Subsidiary, effective at the Time
        of
        Closing (defined herein) and upon the terms and conditions set forth herein;
        

      

      NOW,
        THEREFORE, in
        consideration of the mutual promises made herein, and for other good and
        valuable consideration, the receipt and sufficiency of which are hereby
        acknowledged, the Parties, intending to be legally bound, agree as
        follows:

      

      

      
        
          
          

        

        
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      ARTICLE
        1:
        TRANSFER
        AND ASSIGNMENT OF ASSETS

       

      The
        business of the Company is to develop a series of social and business networking
        community websites which will allow members to build online communities focused
        on shared interests, and to collaborate, share knowledge and team up with
        other
        members on projects relating to their common interest (the “Business”). The
        assets and operations within the scope of the “Business” include the following:
        the Company has reserved certain domain names which are variations of the
        domain
        name “linkup.com,” such as “nurseslinkup.com, and the Company has advertising
        contracts with certain parties. 

      

      On
        the
        terms and subject to the conditions herein expressed, the Company hereby
        sells,
        conveys, transfers, assigns, sets over and delivers to Subsidiary at the
        Time of
        Closing (as defined in Section 4.1), and Subsidiary assumes and accepts,
        all of
        the assets, rights and interests, tangible and intangible, of every kind,
        nature
        and description, then owned, possessed or operated by Company and used in
        the
        operation of the Business, wheresoever situate (collectively, the “Assets”),
        including without limitation the following:

      

      1.1   Machinery
        and Equipment.
        All
        machinery, equipment, computers and computer hardware, office furniture and
        fixtures, and other fixed or tangible assets; 

       

      1.2   Inventories.
        All
        inventories, including without limitation merchandise, materials, component
        parts, production and office supplies, stationery and other imprinted material,
        promotional materials, and business records;

       

      1.3   Licenses
        and Permits.
        All
        licenses, permits and authorizations used by the Company to own and operate
        all
        of the Assets , to conduct the Business and to occupy the Premises for the
        purpose of conducting the Business thereon;

       

      1.4   
        Intangible Property.
        All
        intangible assets of Company which are transferable including, but not limited
        to, customer and supplier lists, privileges, permits, licenses, software
        and
        software licenses, certificates, commitments, goodwill, registered and
        unregistered patents, trademarks, service marks and trade names, and
        applications for registration thereof and the goodwill associated therewith,
        including without limitation the exclusive right to use the name “itLinkz” or
        derivations thereof in the Business, domain names using the words “linkup.com,”
the right to receive mail related to the Business and the Assets which is
        addressed to the Company, and the right to telephone numbers used at the
        Premises in the Business;

       

      1.5   Cash
        and Accounts Receivable.
        All
        accounts receivable, deposit accounts, cash and cash equivalents and securities
        owned by the Company including, without limitation, the cash proceeds of
        the
        Share Purchase received by the Company pursuant to the Merger
        Agreement; 

       

      1.6   Contract
        Rights.
        All
        rights and benefits of or in favor of Company resulting or arising from any
        contracts, purchase orders, sales orders, forward commitments for goods or
        services, leases (including security deposits held by the landlord pursuant
        to
        the lease of the Premises), franchise or license agreements, beneficial
        interests in covenants not to compete or confidentiality covenants, the rights
        of Company related to any other agreements whatsoever which arise out of
        the
        operation of the Business; and

       

      1.7   Claims.
        Claims
        made in lawsuits and other proceedings filed by the Company, judgments and
        settlements in the Company’s favor, rights to refunds, including rights to and
        claims for federal and state income and franchise tax refunds and refunds
        of
        other taxes paid based upon or measured by the income of the Business prior
        to
        the Closing, and insurance policies and rights accrued thereunder. 

       

      

       

      
        
          
          

        

        
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      ARTICLE
        2:
        ASSUMPTION
        OF LIABILITIES

       

      2.1   Scope
        of Liabilities Assumed.
        The
        Subsidiary shall assume, pay, perform or discharge the following:

       

      
        	 	
                a.

              	
                any
                  and all debts, liabilities or obligations of any nature of the
                  Company or
                  the Subsidiary, whether contingent or fixed and whether known or
                  unknown,
                  which have accrued at the Time of Closing including, without limitation,
                  the Company’s obligations to the Manager described in the financial
                  statements contained in the Company’s quarterly report filed with the
                  Securities and Exchange Commission for the period ending March
                  31, 2007,
                  which refer to loans having a principal balance (as of the date
                  of said
                  financial statements) of $955,120.

              

      

       

      
        	 	
                b.

              	
                any
                  and all debts, liabilities or obligations of any nature of the
                  Subsidiary,
                  whether contingent or fixed and whether known or unknown, arising
                  from the
                  ownership or operation of the Assets or the Business or the occupation
                  of
                  the Premises either before or after the Time of Closing.
                  

              

      

       

      The
        Operating Subsidiary shall promptly provide for payment, performance and
        discharge of the same in accordance with their terms. The Manager agrees
        personally and unconditionally to guarantee performance of the obligations
        assumed by the Operating Subsidiary as described herein.

       

      ARTICLE
        3:
        COLLECTION
        OF ACCOUNTS RECEIVABLE

       

      3.1   Right
        to Collect. Following
        the closing, Subsidiary shall have the right to collect the accounts receivables
        of the Company and to settle, compromise, sue for collection, or take any
        action
        whatsoever with respect to the receivables. Company shall cooperate with
        Subsidiary in notifying customers as to any payment instructions or change
        of
        address that Subsidiary may wish to communicate to the customers. In the
        event
        Company receives payment of any receivable transferred to the Subsidiary,
        it
        shall promptly endorse such payment and deliver it over to the Subsidiary.
        

       

      ARTICLE
        4:
        THE
        CLOSING

       

      4.1   The
        Closing.
        The
        closing of the transactions contemplated in this Agreement (“Closing”) shall
        take place simultaneously with the closing of the transactions contemplated
        under the Merger Agreement. The effective time of closing is referred to
        herein
        as the “Time of Closing.”

       

      4.2   Deliveries
        by Company.
        At
        Closing, Company shall deliver to Subsidiary, in addition to all other items
        specified elsewhere in this Agreement, the following:

       

      (a)   Such
        instruments of sale, conveyance, transfer, assignment, endorsement, direction
        or
        authorization as will be required or as may be desirable to vest in Subsidiary,
        its successors and assigns, all right, title and interest in and to the Assets,
        subject to any and all mortgages, pledges, liens, encumbrances, equities,
        charges, conditional sale or other title retention agreements, assessments,
        covenants, restrictions, reservations, commitments, obligations, or other
        burdens or encumbrances of any nature whatsoever that exist at the Time of
        Closing;

       

      (b)   All
        of
        the files, documents, papers, agreements, books of account and records
        pertaining to the Assets and the Business;

       

      
        
          
          

        

        
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      (c)   Actual
        possession and operating control of the Assets; and

       

      (d)   To
        the
        extent required, the consents of third parties to the assignment and transfer
        of
        any of the Assets. 

       

      4.3   Deliveries
        by Subsidiary.
        At
        Closing, the Subsidiary shall deliver to the Company any instruments, in
        addition to this Agreement, as the Company deems necessary or desirable fully
        to
        secure the assumption by the Subsidiary, its successors and assigns, of all
        liabilities and obligations of the Company, as described Section 2.1
        hereof.

       

      ARTICLE
        5:
        COVENANTS
        ON AND SUBSEQUENT TO THE CLOSING DATE

       

      On
        and
        after the Closing Date, Subsidiary and Company (as the case may be) covenant
        as
        follows:

      

      5.1   Pay
        Creditors.
        Following the Closing, Subsidiary shall pay all payables and other obligations
        of Company assumed hereunder by the Subsidiary, as such obligations become
        due
        in the ordinary course of business. 

       

      5.2   Lawsuits.
        Without
        limiting the generality of Section 2.01, following the Closing, the Subsidiary
        shall continue the defense of any and all lawsuits or other claims filed
        or
        threatened against the Company.

       

      5.3   Insurance
        Policies.
        Subsidiary shall name the Company as an additional insured on all insurance
        policies transferred by the Company or any other insurance policies covering
        the
        period prior to the Time of Closing, and Subsidiary shall provide proof of
        such
        coverage to the Company upon request.

       

      5.4   Right
        to Inspect Records.
        The
        Subsidiary shall permit the Company and its agents to have reasonable access
        to
        the books and accounts of the Subsidiary (at the expense of the Company)
        for the
        purpose of filing tax returns, preparing filings required by the Securities
        and
        Exchange Commission, and all other legitimate purposes.

       

      5.5   Execution
        of Further Documents.
        Upon
        the request of either party, the other party shall execute, acknowledge and
        deliver all such further acts, deeds, bills of sale, assignments, assumptions,
        undertakings, transfers, conveyances, title certificates, powers of attorney
        and
        assurances as may be required , in the case of Subsidiary, to convey and
        transfer to, and vest in, Subsidiary all of Company’s right, title and interest
        in the Assets, and in the case of the Company, to secure the assumption by
        Subsidiary of the Company’s obligations and liabilities arising as of the Time
        of Closing.

       

      5.6   Change
        of Corporation Name.
        Promptly after the Closing and, in any case, no later than December 31, 2007,
        the Company shall change its corporate name to a name that does not include
        the
        word “itLinkz.” 

       

      ARTICLE
        6: MANAGEMENT
        AND OPERATION OF SUBSIDIARY

       

      6.1   Titles.
        The
        Subsidiary hereby engages the Manager to manage and operate its business.
        Jeremy
        P. Feakins shall serve as a member of the Board of Directors of the Subsidiary.
        The Manager shall initially serve as the sole officer of the Subsidiary and
        shall have the titles of President and Secretary, subject to the right of
        the
        Board of Directors of the Subsidiary to appoint additional
        officers.

       

      
        
          
          

        

        
          4

          
            

          

        

        
          
          

        

      

      6.2   Duties. The
        Manager agrees that he will manage and operate the business of the Subsidiary
        to
        the best of his abilities and will devote such time and effort as necessary
        to
        fulfill his duties under this Agreement. 

       

      6.3   Management
        of Subsidiary.
        The
        Company agrees that the Manager will have exclusive authority over the
        operations of the Operating Subsidiary, except that the Company shall be
        entitled to intervene in the event that a breach of the covenants in this
        Agreement or any conduct by the Manager in the course of operating the
        Subsidiary threatens the Company with material harm or material liability
        of any
        kind. (In any such event, the Company shall be entitled to remove the directors
        and officers of the Subsidiary and to elect a new Board of Directors.) The
        Manager shall maintain such books and records of the operations of the
        Subsidiary as are required by the Rules of the SEC, and shall prepare quarterly
        and annual financial statements promptly so as to permit the Company to file
        periodic reports with the SEC according to SEC Rules

       

      6.4   Company’s
        Covenants.
        The
        Company shall not cause any funds or assets of the Subsidiary to be paid
        or
        transferred to the Company, nor shall the Company cause the Subsidiary to
        issue
        any capital stock of any class or series or any options, warrants or rights
        to
        acquire capital stock of the Subsidiary whether for additional consideration
        or
        on conversion. 

       

      6.5   Spin
        Off of Subsidiary.
        On the
        thirtieth day following the Closing under the Merger Agreement, the Company
        shall cause all of the stock of the Subsidiary to be transferred and assigned
        to
        the Manager in consideration of the Manager’s guarantee of the obligations of
        the Subsidiary to the Company, the Manager’s agreement to assume personal
        liability for the indemnification obligations of the Company, both as set
        forth
        herein, and the Manager’s release of the Company from all obligations to him.
        Promptly after the Closing, the parties will negotiate in good faith a written
        contract embodying the terms set forth in this Section 6.5.

       

      ARTICLE
        7:
        INDEMNIFICATION

       

      7.1   Indemnification
        by Subsidiary and Principal Shareholder.
        From
        and after the Closing, Subsidiary and the Manager shall, jointly and severally,
        indemnify and save Company, its officers and directors, and their respective
        successors, assigns, heirs and legal representatives (“Company Indemnitees”)
        harmless from and against any and all losses, claims, damages, liabilities,
        costs, expenses or deficiencies including, without limitation, actual attorneys’
fees and other costs and expenses incident to proceedings or investigations
        or
        the defense or settlement of any claim, incurred by or asserted against any
        Company Indemnitee due to or resulting from a violation or default by Subsidiary
        with respect to any of Subsidiary’s covenants, obligations or agreements
        hereunder and any losses or expenses incurred in connection with, or payment
        by
        Company of the debts, liabilities and obligations assumed by the Subsidiary
        hereunder or the debts, liabilities and obligations of the Subsidiary arising
        after the Time of Closing. 

       

      7.2   Indemnification
        Procedures. 

       

      (a)   The
        party
        seeking indemnification (“Indemnified Party”) shall give the indemnifying party
        (“Indemnifying Party”) notice (a “Claim Notice”) of its indemnification claim
        which notice shall (i) be in writing, (ii) include the basis for the
        indemnification, and (iii) include the amount Indemnified Party believes
        is the
        amount to be indemnified, if reasonably possible. 

       

       

      
        
          
          

        

        
          5

          
            

          

        

        
          
          

        

      

      (b)   Indemnifying
        Party shall be deemed to accept Indemnified Party’s claim unless, within twenty
        (20) business days after receipt of any Claim Notice, Indemnifying Party
        delivers to Indemnified Party notice of non-acceptance of the indemnification
        claim, which must (a) be in writing and (b) include the basis for the
        disagreement. 

       

      (c)   The
        parties shall attempt in good faith to resolve any issues concerning liability
        and the amount of such claim, and any issues which they cannot resolve within
        thirty (30) days after delivery of the notice of non-acceptance pursuant
        to
        Section 7.2(b) shall be settled by arbitration in accordance with the rules
        of
        the American Bar Association, by a sole arbitrator located in New York, NY
        or
        such other location as the parties shall agree, whose determination shall
        be
        final and binding on the parties hereto. The arbitration shall be governed
        by
        the United States Arbitration Act, 9 U.S.C. §§ 1-16, and judgment upon the award
        rendered by the arbitrator may be entered in any court having jurisdiction
        thereof. The arbitrator shall have the authority to award legal fees,
        arbitration costs and other expenses, in whole or in part, to the prevailing
        party. 

       

      ARTICLE
        8:
        MISCELLANEOUS

       

      8.1   Benefit.
        This
        Agreement shall be binding upon, and inure to the benefit of, the Parties
        hereto
        and their respective successors, assignees, heirs and legal representatives.
        

       

      8.2   Governing
        Law.
        This
        Agreement shall be governed by and construed in accordance with the laws
        of the
        State of Delaware.

       

      8.3   Amendment,
        Modification and Waiver.
        Any
        Party hereto may waive in writing any term or condition contained in this
        Agreement and intended to be for its benefit; provided, however, that no
        waiver
        by any Party, whether by conduct or otherwise, in any one or more instances,
        shall be deemed or construed as a further or continuing waiver of any such
        term
        or condition. Each amendment, modification, supplement or waiver shall be
        in
        writing and signed by the Party or Parties to be charged. 

       

      8.4   Entire
        Agreement.
        This
        Agreement and the exhibits, schedules and other documents expressly provided
        hereunder or delivered herewith represent the entire understanding of the
        parties. 

       

      8.5   Notices.
        All
        notices and other communications under this Agreement shall be in writing
        and
        shall be deemed to have been duly given or made as follows: 

       

      (a)   If
        sent
        by reputable overnight air courier (such as Federal Express), 2 business
        days
        after being sent; 

      

      (b)   If
        sent
        by facsimile transmission, with a copy mailed on the same day in the manner
        provided in clause (a) above, when transmitted and receipt is confirmed by
        the
        fax machine; or 

      

      (c)   If
        otherwise actually personally delivered, when delivered. 

      

      
        
          
          

        

        
          6

          
            

          

        

        
          
          

        

      

      All
        notices and other communications under this Agreement shall be sent or delivered
        as follows: 

      

      If
        to the
        Company, to: 

      

      Huakang
        Zhou

      Landway
        Nano Bio-Tech, Inc.

      18
        Kimberly Court

      East
        Hanover, NJ 07936

      

      Telephone:
        973-462-8777 

      Facsimile:
        973-966-8870

      

      with
        a
        copy to (which shall not constitute notice):

      

      

      Telephone:
        

      Facsimile:
        

      

      If
        to the
        Subsidiary or the Manager, to: 

      

      Jeremy
        P.
        Feakins

      itLinkz
        Corporation

      1800
        Fruitville Pike, Suite 200

      Lancaster,
        PA 17601

      

      Telephone:
        717-390-3777

      Facsimile:
        717-390-3776

      

      with
        a
        copy to (which shall not constitute notice):

      

      Robert
        Brantl, Esq.

      52
        Mulligan Lane

      Irvington,
        NY 10533

      Telephone:
        914-693-3026

      Facsimile:
        914-693-1807

      

      Each
        Party may change its address by written notice in accordance with this Section.
        

      

      IN
        WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed
        on
        June ____, 2007.

      

      
        	
                ITLINKZ
                  GROUP, INC. 

              	 
	 	 	 
	 	 	 
	
                By:

              	                                                                                
                	                                                                                  
	 	
                Jeremy
                  P. Feakins, Chief Executive Officer

              	
                JEREMY
                  P. FEAKINS

              
	 	 	 
	
                ITLINKZ
                  CORPORATION

              	 
	 	 	 
	 	 	 
	
                By:

              	                                                                                  	 
	 	
                Jeremy
                  P. Feakins, Chief Executive Officer

              	 

      

      
 

      7

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