Document:

fex10vii_covenant.htm

    Exhibit 10.7

    
 

    Covenant
Group of China Inc.

    

    March 22,
2010

    

    Re:           Share
Entrustment Agreement

    

    This
share entrustment agreement (the “Agreement”), executed on the above date, by
and among Covenant Group of China Inc. (“Covenant”), a U.S. public company, and
the following shareholders of HaiNan JIEN Intelligent Engineering Co. (“JIEN”):
Ma Bing Feng and Dai Qing Hua (each a “JIEN Shareholder” and collectively the
“JIEN Shareholders”).

    

    The
parties acknowledge that JIEN and the JIEN Shareholders entered into an
agreement dated June 24, 2009 (“June 24, 2009 Agreement”) with Covenant Group
Holdings Inc. (“Holdings”), now a wholly-owned subsidiary of Covenant, whereby
Holdings would acquire one-hundred percent (100%) of JIEN’s common stock from
the JIEN Shareholders in exchange for one million three hundred fifty thousand
(1,350,000) shares of Covenant common stock.  The percentage of the
latter Covenant shares to be received by each JIEN Shareholder was cited as
follows: Ma Bing Feng (60%) and Dai Qing Hua (40%).

    

    The
parties acknowledge that the obligation of the parties to exchange
Covenant  common stock shares for JIEN common stock shares held by the
JIEN Shareholders occurred on December 24, 2009, the effective date of a share
exchange agreement, which consummated a merger and going public transaction
between Holdings and Covenant, formerly named Everest Resources
Inc.

    

    The
parties acknowledge that Covenant has issued Covenant shares in the name of the
JIEN Shareholders, but JIEN and the JIEN Shareholders are still in the process
of effecting a change in the Peoples Republic of China of the registered or
record ownership of the JIEN shares in the name of
Holdings.  Accordingly, Covenant shall hold the JIEN Shareholders
shares in Covenant in trust for the exclusive beneficial ownership and voting
rights of each respective JIEN shareholder.  Additionally, JIEN and
each JIEN Shareholder shall hold the JIEN shares in trust for the exclusive
beneficial ownership and voting rights of Covenant through
Holdings.  The parties ratify and agree that this mutual trust
arrangement has been effective since the effective date of the December 24, 2009
Agreement.

    

    Unless
agreed otherwise in writing, the parties shall use their best efforts to have
the JIEN shares registered promptly in the name of Holdings and thereafter the
shares in both Covenant and JIEN can be released to the respective parties in
accordance with the terms of the June 24, 2009 Agreement.  Upon such
mutual share releases, the trust arrangements arising under this Agreement shall
terminate.

    

    To the
extent not expressly contradicted by this Agreement, the provisions of the June
24, 2009 Agreement shall be controlling, including the ability of the instant
Agreement to be executed in one or more counterparts (facsimile copies are
deemed originals), each of which shall be an original and all of which taken
together shall constitute one and the same instrument.

    

    Agreed
and acknowledged:

     

    
      	COVENANT GROUP OF CHINA
      INC.	 
	 	 
	 	 
	/s/ Fredric W. Rittereiser­­­­­	 
	Fredric W. Rittereiser,
      Chairman	 
	 	 
	/s/ Kenneth Wong	 
	Kenneth Wong,
      President	 
	 	 
	 	 
	HAINAN JIEN INTELLIGENT
      ENGINEERING CO.
	 	 
	 	 
	/s/ Ma Bing Feng	 
	Ma Bing Feng,
      Chairman	 
	 	 
	/s/ Ma Bing Feng	 
	MA BING FENG	 
	 	 
	/s/ Dai Qing Hua	 
	DAI QING HUAfex10viii_covenant.htm

    Exhibit 10.8

     

    
 

    AMENDMENT
TO SHARE CANCELLATION AND LOAN AGREEMENT

     

                THIS
AMENDMENT TO THE SHARE CANCELLATION AND LOAN AGREEMENT dated as of December 24,
2009, by and between Covenant Group Holdings Inc. ("CGH") and Gary Sidhu
("Sidhu") (the “Amendment”).

     

                The
parties acknowledge that pursuant to the referenced agreement, CGH was the maker
of a note (the “Note”) payable to Sidhu in the principal amount of $190,000 of
which $90,000 of the principal amount was paid down to Sidhu by CGH following
the Note’s execution.  Accordingly, $100,000 in principal amount of
the Note remains due and outstanding.  The agreement also permits
Sidhu to keep a share certificate in Sidhu’s record name reflecting 500,000
shares of Covenant Group of China Inc. (formerly known as Everest Resources
Corp.) common stock (the “Common Stock”) as collateral for the
Note.  The Note is due and payable on March 24, 2010.

     

    In
consideration for Sidhu’s cancellation of the Note, particularly the remaining
$100,000 due and outstanding, Sidhu agrees to return the collateral or the above
referenced share certificate, and CGH and Covenant Group of China Inc. shall
cancel such share certificate and have re-issued a new share certificate
representing 300,000 shares of unregistered common stock of Covenant Group of
China Inc. in the record name of Sidhu or his designee, which shall be the
consideration by CGH to Sidhu for this Amendment.

     

                This
Amendment shall be governed under Pennsylvania law without regard to its choice
of law rules and may be executed in counterparts.

     

    IN
WITNESS WHEREOF, the parties hereto have duly executed and delivered this
Amendment of the date first above written.

     

     

    
      	 	 	COVENANT
      GROUP HOLDIINGS INC.
	 	 	 
	 	By:	/s/ Kenneth
      Wong
	 	 	 
	 	 	Kenneth Wong, its
      President
	 	 	 
	 	 	 
	 	 	COVENANT
      GROUP OF CHINA INC.
	 	 	 
	 	By:	/s/ Kenneth
      Wong
	 	 	 
	 	 	Kenneth Wong , its
      President
	 	 	 
	 	 	GARY
      SIDHU
	 	 	 
	 	By:	/s/ Gary
      Sidhufex10ix_covenant.htm

     

    Exhibit 10.9

    
 

    PROMISSORY
NOTE

     

    RMB
2,200,000 Philadelphia, Pennsylvania

    March 23,
2010

     

    FOR VALUE
RECEIVED, the undersigned individuals (“Makers”) residing in the Peoples
Republic of China hereby jointly and severally promise to pay to the order of
ChongQing Sysway Information Technology Co. Ltd. ("Payee"), in immediately
available funds at such place or other address as Payee hereof may designate,
the principal sum of RMB 2,200,000, payable as set forth below.

     

    The
entire principal balance will be payable in full on or before April 15,
2010.

     

    This Note
may be prepaid at any time, in whole or in part, without interest, penalty or
premium of any kind.

     

    If any
payment of principal or interest on this Note shall become due on a day which is
a Saturday, Sunday or holiday, such payment shall be made on the next succeeding
business day.

     

    Makers
hereby waive presentment for payment, demand, notice of nonpayment or dishonor,
protest and notice of protest.

     

    No delay
or omission on the part of Payee or any holder hereof in exercising its rights
under this Note, or course of conduct relating thereto, shall operate as a
waiver of such rights or any other right of Payee or any holder hereof, nor
shall any waiver by Payee or any holder hereof of any such right or rights on
any one occasion be deemed a bar to, or waiver of, the same right or rights on
any future occasion.

     

    Makers
shall pay Payee on demand any reasonable out-of-pocket expenses (including
reasonable legal fees) arising out of or in connection with any action or
proceeding (including any action or proceeding arising in or related to any
insolvency, bankruptcy or reorganization involving or affecting Makers) taken to
protect, enforce, determine or assert any right or remedy under this
Note.

     

    This Note
shall bind Makers and the heirs and assigns of Makers, and the benefits hereof
shall inure to the benefit of Payee and the heirs and assigns of
Payee.  All references herein to "Makers" shall be deemed to apply to
Makers and their heirs and assigns, and all references herein to "Payee" shall
be deemed to apply to Payee and its heirs and assigns.

     

    This Note
and the rights and obligations of the parties hereto shall for all purposes be
governed by and construed and enforced in accordance with the substantive law of
the Commonwealth of Pennsylvania without giving effect to principles of conflict
of laws.

     

    
      
         

      

      
        1

        
          

        

      

      
         

      

    

     

    MAKERS
HEREBY AUTHORIZE AND EMPOWER ANY ATTORNEY OR CLERK OF ANY COURT OF RECORD IN THE
UNITED STATES OR ELSEWHERE TO APPEAR FOR AND, WITH OR WITHOUT DECLARATION FILED,
CONFESS JUDGMENT AGAINST MAKERS IN FAVOR OF PAYEE, AT ANY TIME, FOR THE FULL OR
TOTAL AMOUNT OF THIS NOTE, TOGETHER WITH ALL INDEBTEDNESS PROVIDED FOR THEREIN;
AND THE MAKERS EXPRESSLY RELEASE ALL ERRORS, WAIVE ALL STAY OF EXECUTION, RIGHTS
OF INQUISITION AND EXTENSION UPON ANY LEVY UPON REAL ESTATE AND ALL EXEMPTION OF
PROPERTY FROM LEVY AND SALE UPON ANY EXECUTION HEREON; AND THE MAKERS EXPRESSLY
AGREE TO CONDEMNATION AND EXPRESSLY RELINQUISH ALL RIGHTS TO BENEFITS OR
EXEMPTIONS UNDER ANY AND ALL EXEMPTION LAWS NOW IN FORCE OR WHICH MAY HEREAFTER
BE ENACTED.

     

    IN
WITNESS WHEREOF, Makers intending to be legally bound, have executed this Note
as of the date and year first above written with the intention that this Note
shall constitute a sealed instrument.

     

    Intending
to be jointly and severally responsible for payment of the Note are the
following individuals who are the Makers:

     

     

    
      	/s/ Shi Quansheng­	 
	 SHI QUANSHENG	 
	 	 
	/s/ Song Xiaozhong	 
	SONG XIAOZHONG	 
	 	 
	/s/ Song Guangwei	 
	SONG GUANGWEI	 
	 	 
	/s/ Yuan Rui	 
	YUAN RUI	 

    

     

     

     

    
      
         

      

      
        2f8k33010ex10i_apex.htm

Exhibit 10.1

 

AMENDMENT AGREEMENT TO THE STOCK PURCHASE AGREEMENT

This AMENDMENT AGREEMENT TO THE STOCK PURCHASE AGREEMENT (the “Amendment”) is dated as of March 30, 2010 by and among Apextalk Holdings, Inc., a Delaware corporation (the “Company”), and Champion Investors (China), Ltd. (the “Purchaser”).  Capitalized terms used but not defined herein shall have the meanings set forth in the Stock Purchase Agreement.

WITNESSETH:

WHEREAS, pursuant to the Stock Purchase Agreement dated December 30, 2009 (the “Execution Date”), the Company agreed to issue to the Purchasers a total of 1,666,668 shares of Common Stock for an aggregate purchase price (the “Purchase Price”) of $4,000,000;

WHEREAS, as of the date hereof, the Company has received a total of $2,000,000 of the Purchase Price, in connection which, the Company has issued to the Purchasers a total of 833,334 shares of Common Stock;

WHEREAS, pursuant to the Stock Purchase Agreement, the remaining $2,000,000 Purchase Price shall be delivered to the Company within 90 days of the Execution Date (the “Payment Period”);

WHEREAS, the parties hereby desire to amend the Stock Purchase Agreement as set forth herein to extend the Payment Period to 120 days.

NOW THEREFORE, in consideration of the premises and mutual covenants herein contained, the parties agree as follows:

1. Section 1 of the Stock Purchase Agreement is hereby cancelled and restated in its entirety to read as follows:

“1.           Purchase of Common Stock.

The Purchaser intends to be legally bound, hereby irrevocably agrees to purchase from the Company 1,666,668 shares of newly issued common stock (the “Common Shares”) at a purchase price of $2.40 per share upon the terms and conditions set forth hereinafter. The total amount of the purchase will be $4,000,000 payable to Apextalk Holdings by 4 separate payments within 120 days.

The Purchaser is delivering the payment (the “Purchase Price”) by a check made payable to “Apextalk Holdings” with two fully executed copies of this Agreement and a completed Investor Questionnaire (the “Investor Questionnaire”):

Apextalk Holdings, Inc. 

637 Howard Street,

San Francisco, California, 94105

Tel: (888) 228-2829

Fax: (415) 777-3646

 

The Purchaser understands that the Common Shares are being issued pursuant to the exemption from the registration requirements of the United States Securities Act of 1933, as amended (the “Securities Act”), provided by Regulation D Rule 506, or Regulation S of such Securities Act. As such, the Common Shares are only being offered and sold to investors who qualify as “accredited investors” as defined by Rule 501 of Regulation D of the Securities Act, and a limited number of sophisticated investors, and persons who are not “US persons” as defined in Regulation S under the Securities Act.  The Corporation is relying on the representations made by the Purchaser in this Agreement that the Purchaser qualifies as such an accredited, sophisticated, or non “US person” investor, and the Purchaser is capable of evaluating the merits and risks of his investment in the offering and has ability and capacity to protect his interests.  The Common Shares are “restricted securities” for purposes of the United States securities laws and cannot be transferred except as permitted under these laws.

 

  

  

  

 

2. Applicable Law. This Agreement shall be governed by and construed in accordance with the laws of the State of California as applied to residents of that State executing contracts wholly to be performed in that State without regard to conflicts of laws principles.

3. Assignability. This Agreement is not transferable or assignable by the Purchaser.

4. Counterparts. This Agreement may be executed through the use of separate signature pages or in any number of counterparts, and each such counterpart shall, for all purposes, constitute one agreement binding on all parties, notwithstanding that all parties are not signatories to the same counterpart.

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of this 30th day of March, 2010.

	  	
APEXTALK HOLDING, INC.

	  	  	  
	  	
By:  

	  
	  	
Hui Liu

	  	
Name: Hui Liu

Title: Chief Executive Officer

	  	  	  
	 	 	 
	 	 CHAMPION INVESTORS (CHINA) LTD
	 	 	 
	 	 	Yi Bao Chen
	 	 	Name: Yi Bao Chen
	  	  	Title: Chief Executive Officer

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