Document:

EXHIBIT
10.15

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    
      SUBSCRIPTION
AGREEMENT

    

    
      

    

    
      This SUBSCRIPTION AGREEMENT
(this "Agreement") is made as of June 30,2008 by and between EFT BioTech
Holdings, Inc., a company incorporated and existing under the laws of Nevada,
USA ("Subscriber"), and Excalibur International Marine Corporation, a
company incorporated and existing under the laws of Taiwan, ROC (the
“Company”).

    

    
      

    

    
      WHEREAS, as of the date
hereof, the Company has a paid-in share capital of Five Hundred Sixty Six
Million Six Hundred Sixty Two Thousand and Five Hundred New Taiwan dollars
($566,662,500) divided into Fifty Six Million Six Hundred Sixty Six Thousand and
Two Hundred Fifty (56,666,250) ordinary shares of NTD10 each ("Ordinary
Shares");

    

    
      

    

    
      WHEREAS, the Company proposes
to issue and sell to the Subscriber and the Subscriber proposes to subscribe for
Fifty Eight Million Eight Hundred Thousand (58,800,000) Ordinary Shares
("Acquired Stock") on the Closing Date (as defined herein below) under the terms
and conditions set forth in this Agreement; and

    

    
      

    

    
      WHEREAS, the parties hereto
will enter into a Shareholders’
Agreement upon Closing, pursuant to which the parties thereto are agreeing,
among other things, to restrict the transfer of Ordinary Shares
(“Shareholders’
Agreement”).

    

    
      

    

    
      NOW, THEREFORE, in
consideration of the mutual covenants and agreements set forth herein, the
parties hereto agree as follows:

    

    
      

    

    
      ARTICLE
1

    

    
      Subscription
for Newly-issued Stock

    

    
      

    

    
      
        	
                1.1

              	
                Subscription and Sale
      of Newly-issued Stock.

              

      

    

    
      

    

    
      At the
closing of the transactions-contemplated by this Agreement (the “Closing”), upon
the terms and subject to the conditions set forth in this Agreement, the Company
shall issue, sell, assign, transfer and convey to the Subscriber, and the
Subscriber shall purchase and acquire from the Company, 58,800,000 common shares
of the Company (“Acquired Stock”) which represents a total of 49% of the
issued and outstanding shares of the Company upon Closing. The Acquired Stock
shall be issued, credited as fully paid, and shall have the rights attached
thereto set out in the Memorandum and Articles of Association and the
Shareholders' Agreement

    

    
      

    

    
      
        	
                1.2

              	
                Time and Place of
      dosing.

              

      

    

    
      

    

    
      The
Closing shall take place at the office of the Company at 15:00 P.M. on July
25, 2008 or on such other date as is mutually agreeable to the
Subscriber and the Company. The date of the Closing is herein referred to
as the "Closing Date." The parties acknowledge and understand the Subscriber or
its subsidiary will set up a company incorporated under the laws of Taiwan
to be the investment vehicle (“Investment Vehicle”) to implement the
transaction contemplated herein and the process and the timeframe of Foreign
Investment Application by Subscriber or its subsidiary will be subject to the
discretion of Taiwan authorities, Subscriber will use its best reasonable effort
to implement the investment via the Investment Vehicle in accordance with
applicable laws and regulation s of Taiwan, hi the event that the Investment
Vehicle is not able to pay the Subscription Price at Closing, the Closing Date
shall be extended to a maximum of 14 calendar days. The parties shall use their
best reasonable effort to work out an alternative way to pay the Subscription
Price. In the event that Subscriber is not likely to be able to pay the
Subscription Price upon Closing, the parties agree Subscriber may elect to make
a loan of the amount equal to the Subscription Price to the Company for the
payment of the Catamaran Car Cargo Ferry “Nixe 2”.

    

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    
      

    

    
      
        	
                1.3

              	
                Subscription
      Price.

              

      

    

    
      

    

    
      The
aggregate subscription price for the Acquired Stock (the “Subscription Price”)
shall be Five Hundred and Eight Two Million Four Hundred Fifty Two Thousand New
Taiwan Dollars (NT 582,452,000) in the forms of cash, payable notes and/or
other financing facilities. The Subscription Price to be provided are subject to
a result of due diligence on the Company that is satisfactory to the
Subscriber.

    

    
      

    

    
      
        	
                1.4

              	
                Manner of Payment of
      Subscription Price.

              

      

    

    
      

    

    
      At the
Closing, the Subscriber or its subsidiary shall pay the Subscription Price by
cash, payable notes and/or other financing facilities to the Company, made to
such bank account or accounts, in the event of cash, as the Company shall
specify by written notice to the Subscriber delivered in sufficient time to
allow for the transfer to be so made an the ordinary course.

    

    
      

    

    
      
        	
                1.5

              	
                Manner of Delivery of
      Shares and Shareholder
Registration.

              

      

    

    
      

    

    
      At the
Closing, the Company shall deliver to the Subscriber an irrevocable instruction
letter to its transfer agent with respect to the issue to the
Subscriber of stock certificates representing all of the Acquired Stock (the
"Instruction Letter"), or share certificates representing the Acquired Stock
subscribed by the Subscriber or its subsidiary on the Closing Date, as
applicable. As soon as practicable after the Closing, Subscriber or it's
designated subsidiaries/ legal entities shall be registered as a general Common
Shareholders with the same voting rights of the previous and current Common
Shareholders of the Company.

    

    
      

    

    
      ARTICLE
2

    

    
      Conditions
to the Obligations of the Subscriber to Closing

    

    
      

    

    
      On me
Closing Date, the obligation of the Subscriber to subscribe for the Acquired
Stock and to perform any obligations hereunder shall be subject to the
satisfaction of the following conditions on or before the “Closing Date”
(subject to any waiver of any such condition by me
Subscriber):

    

    
      

    

    
      
        	
                2.1

              	
                Representations and
      Warranties.

              

      

    

    
      

    

    
      The
representations and warranties of the Company contained in Article 3 hereof
shall be true and correct at and as of the Closing Date as if made at and as of
such date.

    

    
      

    

    
      
        	
                2.2

              	
                Compliance with tills
      Agreement.

              

      

    

    
      

    

    
      The
Company shall have performed and complied with all of the agreements and
conditions set forth or contemplated herein that are required to be performed or
complied with on or before the Closing Date. Furthermore, the due diligence on
the Company conducted by the Subscriber is satisfactory to me
Subscriber.

    

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    
      

    

    
      
        	
                2.3

              	
                Subscription Permitted
      by Applicable Laws.

              

      

    

    
      

    

    
      The
subscription including payment for the Acquired Stock to be subscribed by the
Subscriber hereunder and the consummation of the transactions contemplated
hereby for the Closing Date 0 shall not be prohibited by any Requirement of Law,
(ii) shall not subject the Subscriber to any penalty or, in their
reasonable judgment, any other onerous condition under or pursuant to any
Requirement of Law, and (iii) shall be permitted by all Requirements of Law to
which they or the transactions contemplated by or referred to herein are
subject; and the Subscriber shall have received such certificates or other
evidences as it may request to establish compliance with this
condition.

    

    
      

    

    
      
        	
                2.4

              	
                Litigation.

              

      

    

    
      

    

    
      There
shall be no legal actions, suits, judgments, proceedings, investigations, claims
or disputes pending or, to the Company's knowledge, threatened, at law, in
equity, in arbitration or before any Governmental Authority against or affecting
the Company which will hinder; obstruct, impede or impair the transaction
contemplated in this Agreement or Shareholders’ Agreement

    

    
      

    

    
      
        	
                2.5

              	
                Consents and
      Approvals.

              

      

    

    
      

    

    
      All
approvals, consents, exemptions, authorizations, or other actions by, or notices
to, or filings with, Governmental Authorities and other Persons in respect of
all Requirements of Law and Contractual Obligations of the Company necessary or
required in connection with the execution, delivery or performance (including,
without limitation, the issuance of Acquired Stock) by the Company, or
enforcement against the Company, of the Transaction Documents to which it is a
party, and the transactions contemplated thereby for the Closing Date shall have
been obtained and be in full force and effect, and the Subscriber shall have
been furnished with appropriate evidence thereof, and all applicable waiting
periods shall have lapsed without extension or the imposition of any conditions
or restrictions.

    

    
      

    

    
      
        	
                2.6

              	
                Memorandum and
      Articles of
Association.

              

      

    

    
      

    

    
      The
Memorandum and Articles of Association of the Company shall be in form and
substance satisfactory to me Subscriber and shall be unchanged from such form
and substance as of the Closing Date.

    

    
      

    

    
      
        	
                2.7

              	
                Board Approval of
      Subscriber.

              

      

    

    
      

    

    
      Approvals
from the board of Subscriber necessary or required under applicable laws in
connection with the execution, delivery or performance of this Agreement shall
have been obtained.

    

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    
      

    

    
      ARTICLE
3

    

    
      Representations
and Warranties of the Company

    

    
      

    

    
      The
Company hereby represents and warrants to the Subscriber as
follows:

    

    
      

    

    
      
        	
                3.1

              	
                Corporate-Existence
      and Power.

              

      

    

    
      

    

    
      (a)         The
Company is an entity duly organized, validly existing and in good standing under
the laws of the Taiwan, ROC.

    

    
      

    

    
      (b)         The
Company has all requisite power to own its properties and to carry on its
business as it is now being conducted and is duly licensed or qualified to
do business in each jurisdiction in which the nature of its business or the
ownership or leasing of its properties makes such license or qualification
necessary, except where the failure to effect or obtain such qualification,
individually or in the aggregate, would not reasonably be expected to have a
Material Adverse Effect on the Company.

    

    
      

    

    
      
        	
                3.2

              	
                Corporate
      Authorization; No
contravention.

              

      

    

    
      

    

    
      The
Company has all requisite corporate power and authority (a) to execute and
deliver this Agreement and any other Transaction Documents to which it is a
party, and (b) to perform its obligations hereunder (including, without
limitation, all right, power, capacity and authority to issue, sell and convey
the Acquired Stock as provided by this Agreement), and (c) to conduct its
business as and to the extent now conducted and to own, use and lease its assets and properties. The
execution, delivery and performance of the Transaction Documents by the Company
and the consummation by the Company of the transactions contemplated hereby have
been duly and validly approved by its Board of Directors/Shareholders Meeting,
and no other corporate proceedings on the part of the Company are necessary to
authorize the execution, delivery and performance of the Transaction Documents
by the Company and the consummation of the transactions contemplated
hereby. The Transaction Documents have been duly and validly executed and
delivered by the Company and constitute legal, valid and binding obligations of
the Company, enforceable in accordance with their terms. The execution and
delivery by the Company of each Transaction Document to which it is a party
and the performance of the transactions contemplated hereby or thereby,
including, without limitation, the issuance of the Acquired Stock do hot
contravene the Company's Memorandum and Articles of
Association.

    

    
      

    

    
      
        	
                3.3

              	
                Binding
      Effect.

              

      

    

    
      

    

    
      This
Agreement and the other Transaction Documents have been duly executed and
delivered by the Company.

    

    
      

    

    
      
        	
                3.4

              	
                Litigation.

              

      

    

    
      

    

    
      There are
no legal actions, suits, judgments, proceedings, investigations, claims or
disputes pending or, to the Company's knowledge, threatened, at law, in equity,
in arbitration or before any Governmental Authority against or affecting the
Company including, without limitation, any of its officers, directors,
employees, assets and properties that (1) impairs in any material respect the
ability of the Company to perform its obligations under this Agreement, (2)
restricts in any material respect or prohibits the sale of the Acquired Stock to
the Subscriber or (3) would reasonably be expected to have a Material Adverse
Effect on the Company. There are no injunctions, writs, temporary restraining
orders or the like in effect or, to the Company's knowledge, threatened that
could enjoin or restrain the execution, delivery or performance of the
Transaction Documents.

    

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

    
      

    

    
      
        	
                3.5

              	
                Compliance with
      Laws.

              

      

    

    
      

    

    
      The
Company is in compliance in all material respects with all Requirements of Law,
the failure to comply with which would have a Material Adverse Effect on the
condition of the Company.

    

    
      

    

    
      
        	
                3.6

              	
                Consent.

              

      

    

    
      

    

    
      No
permit, consent, approval or authorization of, or declaration to or filing with,
any Governmental Authority or. other public or private third party is necessary
or required in connection with any of the execution, delivery or performance of
the Agreement by the Company or the consummation of any other transaction
contemplated thereby; or otherwise, such permit, consent, approval,
authorization, declaration or filing shall obtained by and before the Closing
Date.

    

    
      

    

    
      
        	
                3.7

              	
                No
      Violations.

              

      

    

    
      

    

    
      Neither
the execution and the delivery of this Agreement, nor the consummation of the
transactions contemplated thereby by the Company, will contravene, violate,
accelerate, trigger, result in a breach of or constitute a default under (i) any
Applicable Law, (ii) any material provision of the charter or bylaws of the
Company, or (iii) any agreement, indenture or other instrument to which it is a
party or by which it or its properties may be bound or affected, except, with
respect to this clause (iii), for contraventions, violations, breaches or
defaults that, individually or in the aggregate, would not reasonably be
expected to have a Material Adverse Effect on the Company, or materially impair
or restrict the Company's ability to perform its obligations under the
Agreement

    

    
      

    

    
      
        	
                3.8

              	
                Disclosure.

              

      

    

    
      

    

    
      The
representations and warranties contained in this Agreement and in any other
information, documents furnished to the Subscriber by the Company in connection
with the due diligence and the transactions contemplated hereby do not contain
any untrue statement of a material fact or omit to state a material fact
necessary in order to make any statement contained herein or therein, in the
light of the circumstances under which it was made, not
misleading.

    

    
      

    

    
      
        	
                3.9

              	
                Capitalization.

              

      

    

    
      

    

    
      (a)         As
of the date of this Agreement, the authorized capital stock of the Company
divided into Seventy Million (70,000,000) Ordinary Shares of NTD 10
each.  In order to implement the transaction contemplated herein, the
Company shall amend its Articles of Association to have an authorized
capital of NID 1,200,000,000.

    

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

    
      

    

    
      (b)         As
of the date of this Agreement, there were (1) Fifty Six Million Six Hundred
Sixty Six Thousand and Two Hundred Fifty (56,666,250) Ordinary Shares issued and
outstanding, (2) no shares of preferred stock issued and outstanding, (3) no
Ordinary Shares reserved for issuance upon exercise of outstanding stock options
issued by the Company to current or former employees, directors and consultants
of the Company, and (4) no Ordinary Shares were reserved for issuance upon the
exercise of any warrants of the Company or upon the conversion or exchange of
any security of the Company. No options, warrants or convertible or exchangeable
securities of the Company are issued and outstanding.

    

    
      

    

    
      (c)         All
outstanding shares of the Ordinary Shares are, and all shares reserved for
issuance, when issued, will be, duly authorized, validly issued, fully paid and
non-assessable with respect to the issuance and delivery thereof. As of the date
hereof there are no outstanding subscriptions, options, warrants, rights
(including, but not limited to, stock appreciation rights), preemptive rights or
other contracts, commitments, understandings or arrangements, including, but not
limited to, any right of conversion or exchange under any outstanding security,
instrument or agreement (together, "OPHONS"), obligating the Company to issue or
sell any shares of capital stock of the Company or to grant, extend or enter
into any Option with respect thereto.

    

    
      

    

    
      (d)         Assuming
consummation of the Closing, as of the Closing Date, 58,800,000 Ordinary Shares
will be issued and owned by the Subscriber or its subsidiary.

    

    
      

    

    
      
        	
                3.10

              	
                Shareholders.

              

      

    

    
      

    

    
      Schedule
I sets forth the shareholders, of the Company and the number of shares held by
them immediately prior to and subsequent to the Closing.

    

    
      

    

    
      
        	
                3.11

              	
                Financial
      Information.

              

      

    

    
      

    

    
      The
audited consolidated financial statements and unaudited interim consolidated
financial statements (including, in
each case the notes, if any, thereto) included in the due diligence documents
(the "Company Financial Statements") complied as to form in all material
respects with the Requirements of Law with respect thereto, were prepared in
accordance with generally accepted accounting principles applied on a consistent
basis during the periods involved and fairly present the consolidated financial
position of the Company as of the respective dates thereof and the consolidated
results of their operations and cash flows for the respective periods then
ended.

    

    
      

    

    
      
        	
                3.12

              	
                Absence of Undisclosed
      Liabilities.

              

      

    

    
      

    

    
      Except
for matters reflected or reserved against in the balance sheet for the period
ended June 30,2008 included in the Company financial statements or as disclosed
made, the Company did not have at such date, or does not have incurred since
such date, any liabilities or obligations (whether absolute, accrued,
contingent, fixed or otherwise, or whether due or to become due) of any nature
mat would be required under Requirements of Law's generally accepted accounting
principles to be reflected on a consolidated balance sheet or the
Company.

    

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

    
      

    

    
      ARTICLE
4

    

    
      Representations
and Warranties of the Subscriber

    

    
      

    

    
      The
Subscriber hereby represents and warrants as follows:

    

    
      

    

    
      
        	
                4.1

              	
                Authorization; No
      Contravention.

              

      

    

    
      

    

    
      The
execution, delivery and performance by the Subscriber of this Agreement (a) is
within the Subscriber's power and authority and has been duly authorized by all
necessary action, (b) does not contravene the teens of the Subscriber's
organizational documents or any amendment thereof and (c) will not violate,
conflict with or result in any breach or contravention of any Requirement of Law
applicable to the Subscriber.

    

    
      

    

    
      
        	
                4.2

              	
                Binding
      Effect.

              

      

    

    
      

    

    
      This
Agreement and the other Transaction Documents to which the Subscriber is a party
have been duly executed and delivered by the Subscriber, and each constitutes
the legal, valid and binding obligation of the Subscriber enforceable against it
in accordance with its terms, except as enforceability may be limited by
applicable bankruptcy, insolvency or other similar laws affecting the
enforcement of creditors' rights generally or by equitable principles relating
to enforceability.

    

    
      

    

    
      ARTICLE
5

    

    
      Affirmative
Covenants

    

    
      

    

    
      
        	
                5.1

              	
                Operation of
      Company.

              

      

    

    
      

    

    
      From and
after the date hereof through the Closing Date, the Company shall not enter into
any transaction or take any action other than in the ordinary course of
business, except mat the Company may enter into such transactions and take such
other actions outside of the ordinary course of business if specifically
approved in advance in writing by the Subscriber.

    

    
      

    

    
      
        	
                5.2

              	
                Cross Straight Ferry
      Liner Permits.

              

      

    

    
      

    

    
      The
Company covenants that all the governmental licenses or permits, including but
not limited to the vessel earner permit, liner permit
and _____________, from both Taiwan and Mainland China necessary for
the operation of the cross Taiwan Straight ferry liners shall be obtained by the
Company before September 30.

    

    
      

    

    
      ARTICLE
6

    

    
      Shareholders
Agreement

    

    
      

    

    
      
        
          	
                  6.1 

                	
                  Board of Directors and
      Supervisors of the
Company

                

        

      

    

    
      

    

    
      As soon
as practicable after the Closing, and no later than August 15, 2008,
Subscriber and/or its designated legal entities shall acquire a total number of
5 among 9 directors at the Board of Directors and a total number of 2 among 3
supervisors

    

    
      

    

    
      6.2          Subscriber
or its designated legal entity will have the Rights of First Refusal of any new
shares placement, shares dilution or similar changes of the Company's share
structure if the enlarged percentage of such possible event is equal or greater
than a three percent (3%) material changes over the existing situation of the
capitalized equity of the Company.

    

    
      
         

      

      
        7

        
          

        

      

      
         

      

    

    
      

    

    
      6.3          On
any liquidation, dissolution or winding-up of the Company, the original issuer
of the “Notes”, BFT, will receive payment of 150% the aggregate face amount
thereof, plus all accrued and unpaid interest at a 10% default rate to be bound
by the default parties, before any payments or distributions are paid or
provided for the Company's Original Common Shareholders or any other
indebtedness made junior to the Subscriber.

    

    
      

    

    
      6.4          In
the event of a sale of all or .substantially all the Companies stock or assets
whether tangible or intangible, the issuer of the Notes, EFT or shall become the
New Stock/ Shareholders will receive payment of 1.5 times the aggregate face
amount of the Notes thereof, plus all accrued and unpaid interest as stated in
this paragraph, before any payments or distributions are paid or provided for
the Companies if the Companies' would become a public trading Common Stock or
any other indebtedness.

    

    
      

    

    
      6.5          The
Company shall cause its major shareholders to enter into a shareholders
agreement with Subscriber or its designated legal entities prior to
Closing.

    

    
      

    

    
      ARTICLE
7

    

    
      Miscellaneous

    

    
      

    

    
      
        	
                7.1

              	
                Termination.

              

      

    

    
      

    

    
      (a)         This
Agreement may be terminated prior to the Closing Date, as to transactions
scheduled to take place on the Closing Date, as follows:

    

    
      

    

    
      
        	
              	
                (i)

              	
                at
      the election of the Company if any one or more of the conditions to its
      obligation to close has hot been fulfilled as of the Closing
      Date;

              

      

    

    
      
        	
              	
                (ii)

              	
                at
      the election of the Subscriber if any one or more of the conditions to its
      obligation to close has not been fulfilled as of the Closing
      Date;

              

      

    

    
      
        	
              	
                (iii)

              	
                at
      the election of the Subscriber if die Company has breached a covenant or
      agreement contained in this Agreement, which breach cannot be or is not
      cured by the Closing Date; or

              

      

    

    
      
        	
              	
                (iv)

              	
                at
      any time on or prior to me Closing Date, by mutual written consent of the
      Company and the Subscriber.

              

      

    

    
      

    

    
      If this Agreement so terminates, it
shall become null and void and have no further force or effect, except as
provided in Section 9.1(b) hereof.

    

    
      

    

    
      (b)         If
this Agreement is terminated in accordance with Section 9.1(a) and any of the
transactions contemplated by this Agreement are not consummated, this
Agreement shall become null and void and of no further force and effect
with respect to those transactions not consummated.

    

    
      

    

    
      
        	
                7.2

              	
                Survival of
      Representations and Warranties.

              

      

    

    
      

    

    
      All of
the representations and warranties made herein shall survive the execution and
delivery of this Agreement, any investigation by or on behalf of the Subscriber,
acceptance of the Ordinary Shares and payment, or termination of this Agreement
and shall remain in full force and effect until the second anniversary of the
Closing Date.

    

    
      
         

      

      
        8

        
          

        

      

      
         

      

    

    
      

    

    
      
        	
                7.3

              	
                Notices.

              

      

    

    
      

    

    
      All
notices, demands and other communications to be given or delivered under or by
reason of the provisions of this Agreement shall be in writing and shall be
deemed to have been given when personally delivered or by overnight courier to
the parties at the following addresses or sent by facsimile, with confirmation
received, to the facsimile numbers below (or at such other address or facsimile
number for a party as shall be specified by like notice):

    

    
      

    

    
      
        	
                (a)

              	
                If
      to the Company:

              

      

    

    
      

    

    
      Excalibur
International Marine Corporation

    

    
      Address:    4F No.
118

    

    
      Section 1, NeiHu Rd.

    

    
      Taipei, Taiwan

    

    
      Tel No.:     886-2-8751-0577

    

    
      Fax
No.      886-2-8751-1772

    

    
      Attention:
Mr. Steve Hsiao

    

    
      

    

    
      
        	
                (b)

              	
                If
      to the Subscriber:

              

      

    

    
      

    

    
      EFT
BioTech Holdings, Inc.

    

    
      Address:   929
Radecki Ct.

    

    
                       City
of Industry, CA 91789

    

    
      

    

    
      
        	
                7.4

              	
                Expenses.

              

      

    

    
      

    

    
      Except as
otherwise expressly provided herein, each party shall pay all of its own
expenses (including without limitation attorneys', consultants and accountants'
fees and expenses) incurred in connection with the negotiation of this
Agreement, the performance of their respective obligations hereunder and the
consummation of the transactions contemplated by this Agreement (whether
consummated or not).

    

    
      
        	
                7.5

              	
                Warranties of
      Subscriber.

              

      

    

    
      

    

    
      Shall the
Subscriber fails to perform the obligation under Clause 1.2 regarding the
payment of the Subscription Price, Subscriber agree to compensate the Company in
the amount of EURO 1,600,000.

    

    
      

    

    
      
        	
                7.6

              	
                Governing
      Law.

              

      

    

    
      

    

    
      All
matters relating to the interpretation, construction, validity and enforcement
of this Agreement shall be governed by and construed in accordance with the laws
of Taiwan without giving effect to any choice or conflict of law
provision.

    

    
      

    

    
      
        	
                7.7

              	
                Dispute
      Resolution.

              

      

    

    
      

    

    
      In the
event of any dispute or controversy arising out of or relating to this
Agreement, the parties shall first attempt in good faith amicably to resolve
such dispute or controversy. If such attempt mils to resolve the dispute or
controversy within thirty (30) days of any written request from one of the
parties to try in good faith to resolve the dispute amicably, the dispute shall
be settled by arbitration in Taipei City, the Republic of China or any other
place agreeable by the Parties involved in such dispute, in accordance 'with
Arbitration Laws of Taiwan, and shall be conducted in the Chinese Language. The
number of arbitrators shall be three. The award rendered by the arbitrators
shall be final and binding upon the affected parties.

    

    
      
         

      

      
        9

        
          

        

      

      
         

      

    

    
      

    

    
      
        	
                7.8

              	
                Entire
      Agreement.

              

      

    

    
      

    

    
      This
Agreement and the other Transaction Documents are intended by the parties to be
a final expression of their agreement and intended to be a complete and
exclusive statement of the agreement and understanding of the parties hereto in
respect of the subject matter contained herein and therein. There are no
restrictions, promises, warranties or undertakings other than those set forth or
referred to herein or therein. This Agreement supersedes all prior agreements
and understandings between the parties with respect to such subject
matter.

    

    
      

    

    
      IN WITNESS WHEREOF, the
parties hereto have caused this Agreement to be executed and delivered by their
duly authorized representatives as of the date first above
written.

    

    
      

    

    
      
        
          
            
              	
                      EFT
      BIOTECH HOLDINGS, INC.

                    
	 
      
	
                      By: 

                    	
                      /s/ Jack Qin

                    
	
                      Jack
      Qin, President and CEO

                    
	 
      
	
                      EXCALIBUR
      INTERNATIONAL MARINE

                    
	
                      CORPORATION

                    
	 
      
	
                      By:

                    	
                      /s/ Jen-Ho Chiao

                    
	
                      Jen-Ho
      Chiao,
Chairman

                    

            

          

        

      

    

    
      
         

      

      
        10EXHIBIT
10.16

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    LOAN
AGREEMENT-3rd Extension

    

    This Loan
Agreement (the “Agreement”) is entered into, between the EFT Biotech Holdings,
Inc. (“Lender”), located in City of Industry, CA, and Excalibur International
Marine Corporation (“Borrower”) located in Taipei, Taiwan.

    

    AUTHORITY
AND LOAN

    

    
      	
               
      

            	
              -Lender
      has approved Borrower’s loan originally dated September 23, 2008. Lender’s
      approval of Borrower’s loan under this Agreement are made on reliance that
      borrower will pay back upon secure a loan from local banks in Taiwan. By
      executing this Agreement the Borrower represents under penalty of perjury
      are true and accurate in all
respects.

            

    

    

    
      	
               
      

            	
              -Lender
      agreed to grant another extension (3rd
      extension) for the note in the amount of US Two Million Dollars
      (US$2,000,000), evidenced by a Promissory Note (the “Promissory Note”)
      attached hereto as Exhibit A.

            

    

    

    
      	
               
      

            	
              -
      Lender has approved to extend the Loan for additional twelve (12) months
      due at November 25, 2009 to November 25, 2010 with new interest rate of
      eight percent (8 %) per annum under this
  Agreement.

            

    

    

    PURPOSE

    

    The
Borrower agrees to expend all funds disbursed pursuant to this Agreement only for the
purposes of its business operation and in the amounts set forth in the
Borrower’s Budget. Any other use of funds disbursed hereunder shall require
prior written approval by Lender.

    

    LOAN
REPAYMENT AND INTEREST

    

    All Loan
funds disbursed hereunder, together with all interest payable thereon, shall be
repaid to Lender in accordance with the terms of the Promissory Note. The Loan
shall bear simple interest at the annual rate set forth in the attached
Promissory Note on the principal balance of Loan funds disbursed to the
Borrower. Payment of said interest shall be due at the end of the loan term, and
interest shall accrue from the time of disbursement of Loan funds to the
Borrower until receipt of full Loan repayment to Lender.

    

    EFFECTIVE
DATE OF AGREEMENT

    

    This
Agreement shall become effective on the date it is approved and executed by
Lender at City of industry, California (the “Effective Date”).

    

    The
Borrower agrees to complete performance of its obligations within the time
periods required by Lender and any fully executed documents, if
applicable.

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    

    PREPAYMENT

    

    Borrower
shall have the right to prepay all or any part of the outstanding balance of
this Loan at any time without penalty. Any partial prepayment will not excuse
any later scheduled payments until the Loan is paid in full. Prepayments shall
be applied first to the payment of any outstanding late fees, then to interest
and then to principal installments.

    

    PROMISSORY
NOTE

    

    In order
to evidence its debt to Lender hereunder, the Borrower agrees to,
contemporaneously with the execution of this Agreement, execute and deliver to
Lender the Promissory Note (attached as Exhibit A hereto).

    

    ACCOUNTS

    

    
      	
               
      

            	
              A.

            	
              The
      Borrower agrees to establish on its books a separate account for this
      Loan. This account shall be maintained, and is subject to review and audit
      by Lender, as long as the Loan obligation remains
    unsatisfied.

            

    

    

    
      	
               
      

            	
              B.

            	
              The
      Borrower further agrees to maintain records that accurately and fully show
      the date, amount, purpose, and payee of all expenditures drawn on said
      account for three (3) years after the date Lender determines this Loan is
      repaid in full.

            

    

    

    
      	
               
      

            	
              C.

            	
              The
      Borrower further agrees to allow Lender, or its designated
      representatives, on written request, to have reasonable access to, and the
      right of inspection of, all books and records that pertain to the Loan
      account.

            

    

    

    DEFAULT

    

    The
Borrower’s failure to comply with any of the terms of the Agreement shall
constitute a breach of this Agreement and an Event of Default. In the event of
any default, Lender may, in its discretion, declare this Agreement to have been
breached and be released from any further performance hereunder. Events of
default are detailed in the Promissory Note and are incorporated herein by
reference.

    

    
      	
               
      

            	
              A.

            	
              In
      the event of any default or breach of this Agreement by the Borrower,
      Lender, without limiting any of its other legal rights or remedies, may
      accelerate the Loan and declare any remaining unpaid principal balance,
      along with accrued interest and late fees, immediately due and payable, as
      provided in the Promissory Note evidencing this
  Loan.

            

    

    

    
      	
               
      

            	
              B.

            	
              In
      the event of any default or breach of this Agreement by the Borrower,
      Lender shall have priority right above any secured or unsecured creditor
      to declare any remaining unpaid principal balance, along with accrued
      interest and late fees, immediately due and payable, as provided in the
      Promissory Note evidencing this
Loan.

            

    

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    

    GENERAL
TERMS

    

    
      	
              A.

            	
              Indemnification
      by Borrower

            

    

    

    The
Borrower agrees to indemnify, defend, and save harmless Lender and its officers,
agents, and employees from any and all claims, losses, or costs (including
reasonable attorney fees) arising out of, resulting from, or in any way
connected with the Loan or this Agreement, or the financing or the operation of
the business financed with the Loan.

    

    
      	
              B.

            	
              Independent
      Capacity

            

    

    

    The
Borrower, and the agents and employees of Borrower, in the performance of this
Agreement, shall and do act in an independent capacity, and they acknowledge and
agree that they are not officers or employees or agents of the Lender and
accordingly they are not authorized to act, and may not act, in such
capacity.

    

    
      	
              D.

            	
              Assignment

            

    

    

    Without
the written consent of Lender, this Agreement is not assignable or transferable
by Borrower either in whole or in part. Lender may assign its rights under this
Agreement for security purposes, and in such event the assignee of this Agreement shall be entitled to
enforce the provisions hereof and shall be a third party beneficiary of this
Agreement.

    

    
      	
              E.

            	
              Amendment

            

    

    

    No
amendment or variation of the terms of this Agreement shall be valid unless made
in writing and signed by the parties hereto, and no oral understanding or
agreement not incorporated herein shall be binding on any of the parties
hereto.

    

    
      	
              G.

            	
              Severability

            

    

    

    In the
event that any provision of this Agreement is unenforceable or held to be
unenforceable, then the parties agree that all other provisions of this
Agreement continue to have force and effect and shall not be affected
thereby.

    

    
      	
              H.

            	
              Governing
      Law and Venue

            

    

    

    This
Agreement is governed by and shall be interpreted in accordance with the laws of
the State of California. Venue shall be in Los Angeles County. In any contest
arising under the Loan Documents, Lender and the Borrower agree to waive a trial
by jury.

    

    
      	
              I.

            	
              Borrower
      Authorization

            

    

    

    The
Borrower certifies that it has full power and authority to enter into this
Agreement and this Agreement has been duly authorized, executed and delivered by
the Borrower. The Borrower acknowledges that the resolution of its governing
body or other official action
authorizing it to enter into this Agreement also authorizes such further acts as
are necessary, including execution of the Promissory Note as well as Security
Agreement, if any, to implement and further the intent of this
Agreement.

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    

    NOTICE

    

    Any
notice required to be given to Lender hereunder shall be sent to 17800 Castleton
St., Suite 300, California 91748, attention George Curry, Secretary, or at such
other address as Lender may designate in writing to the Borrower. Any notice
required to be given to the Borrower hereunder shall be sent to the address
shown below the Borrower’s execution of this Agreement, or at such other address
as the Borrower shall designate in writing to Lender. Notice to either party may
be given using the following delivery methods: U.S. Mail, overnight mail, or
personal delivery, providing evidence of receipt, to the respective parties
identified in this Agreement. Delivery by fax or e-mail is not considered notice
for the purposes of this Agreement. Notice shall be effective when received,
unless otherwise stated in this Agreement.

    

    IN
WITNESS WHEREOF, this Loan Agreement has
been executed by the parties hereto.

    

    
      
        
          	
                  Lender

                	 
      	
                  Borrower

                
	 
      	 
      	 
      
	
                  /s/ Jack Qin

                	 
      	
                  /s/ Pyng Soon

                
	
                  Jack
      Qin

                	 
      	
                  Pyng
      Soon

                
	
                  Executive
      Director

                	 
      	
                  Chairman
      of Excalibur

                
	
                  EFT
      BioTech Holdings, Inc.

                	
                    

                	
                  International
      Marine Corporation

                

        

      

    

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    EXHIBIT A

    

    PROMISSORY
NOTE

    

    
      	
              1.

            	
              For
      value received, the undersigned, (hereinafter referred to as the
      “Borrower”), promises to pay to the order of the EFT BioTech Holdings,
      Inc. (hereinafter referred to as  “Lender”), at its principal
      place of business at 17800 Castleton St., Suite 300, City of Industry,
      California 91748, or at such other place as Lender may designate, the
      principal sum of US Two Million Dollars (US$2,000,000) or such lesser
      amount as shall equal the aggregate amount disbursed to the Borrower by
      Lender pursuant to the Agreement between the Borrower and Lender, together
      with interest thereon at the rate of eight percent (8%) percent per annum
      on the unpaid principal balance, computed from the date of each
      disbursement to the Borrower, until the Loan is repaid by the Borrower.
      Principal, together with interest thereon, is due and payable at the end
      of the loan terms, until said principal and interest shall be paid in
      full.

            

    

    

    
      	
              2.

            	
              The
      Borrower may prepay this Promissory Note in full or in part, without
      penalty. Any partial prepayment will not excuse any later scheduled
      payments until the Loan is paid in full. Prepayments shall be applied
      first to the payment of any outstanding late fees, then to interest and
      then to principal installments.

            

    

    

    
      	
              3.

            	
              On
      the occurrence of any event of default, as defined in paragraph 4 of this
      Promissory Note, Lender, at its sole election, may take any or all of the
      following actions:

            

    

    

    
      	
               
      

            	
              A.

            	
              Declare
      all or any portion of the principal balance, along with accrued interest
      and late fees, under this Promissory Note to be immediately due and
      payable and may proceed to enforce this Promissory Note, upon the
      expiration of not less than thirty (30) days after the date written notice
      of Lender’s decision to accelerate is sent to Borrower. All amounts due
      after acceleration shall bear interest at the rate of eight percent (8%)
      per annum. Lender may exercise this option to accelerate during any
      default by Borrower regardless of any prior
  forbearance.

            

    

     

    
      	
               
      

            	
              B.

            	
              Require
      Borrower to take any and all action necessary, as security for the loan,
      to provide the Vessel as collateral under duly executed security documents
      and agrees to be bound by the terms contained therein to Lender as the
      Secured Party.

            

    

     

    
      	
               
      

            	
              C.

            	
              Exercise
      all of its rights and remedies enumerated herein, which rights are in
      addition to and not in limitation of any other rights Lender may have
      under the Agreement and applicable
law.

            

    

     

    
      	
              4.

            	
              Each
      of the following events and conditions shall constitute an event of
      default under this Promissory Note and the
  Agreements:

            

    

    

    
      	
               
      

            	
              A.

            	
              Failure
      of the Borrower to repay any principal, accrued interest, and late fees,
      if applicable, when due under the terms of this Promissory
      Note.

            

    

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    

    
      	
               
      

            	
              B.

            	
              Failure
      of the Borrower to comply with, and satisfy, all the terms, conditions,
      and obligations, required by the Loan Agreement as a condition for this
      Loan.

            

    

    

    
      	
               
      

            	
              C.

            	
              Termination
      of the Loan Agreement pursuant to the terms thereof or breach by the
      Borrower of any terms or conditions of said Loan
  Agreement.

            

    

    

    
      	
               
      

            	
              D.

            	
              Failure
      of the Borrower to obtain and maintain insurance for the
      vessel.

            

    

    

    
      	
               
      

            	
              E.

            	
              Occurrence
      of: (1) the Borrower becoming insolvent or bankrupt or being unable
      or admitting in writing its inability to pay its debts as they mature or
      making a general assignment for the benefit of or entering into any
      composition or arrangement with creditors; (2) proceedings for the
      appointment of a receiver, trustee, or liquidator of the assets of the
      Borrower or a substantial part thereof, being authorized or instituted by
      or against the Borrower; (3) proceedings under any bankruptcy,
      reorganization, readjustment of debt, insolvency, dissolution, liquidation
      or other similar law, or any jurisdiction being authorized or instituted
      against the Borrower; or (4) the Borrower ceases operations, is dissolved,
      or terminates its existence.

            

    

     

    
      	
               
      

            	
              F.

            	
              Discovery
      of any false or misleading statement, warranty, representation, or fact,
      whether or not contained in any other Loan Documents, that when made or
      furnished to the Lender by or on behalf of the Borrower was relied upon
      by  Lender and induced it to extend the Loan to
      Borrower.

            

    

    

    
      	
              5.

            	
              No
      delay or failure of Lender in the exercise of any right or remedy
      hereunder or under any other agreement which secures or is related hereto
      shall affect any such right or remedy, and no single or partial exercise
      of any such right or remedy shall preclude any further exercise thereof,
      and no action taken or omitted by Lender shall be deemed a waiver of any
      such right or remedy.

            

    

    

    
      	
              6.

            	
              Any
      notice required to be given to the Borrower hereunder shall be sent to the
      address shown on the Loan Agreement, or at such other address as the
      Borrower shall designate in writing to Lender. Notice to either party may
      be given using the following delivery methods: U.S. Mail, overnight mail,
      or personal delivery, providing evidence of receipt, to the respective
      parties identified in this Agreement. Delivery by fax or e-mail is not
      considered notice for the purposes of this Promissory
  Note.

            

    

    

    
      	
              7.

            	
              Borrower
      agrees to pay all costs and expenses, including reasonable attorney fees,
      which may be incurred by Lender in the enforcement and defense of the Loan
      Agreement, including such costs and expenses incurred in any
      appeal.

            

    

    

    
      	
              8.

            	
              This
      Promissory Note shall be binding upon the Borrower and its permitted
      successors and assigns and upon Lender and its permitted successors and
      assigns. Without the written consent of Lender, this Promissory Note is
      not assignable or transferable by Borrower either in whole or in part.
      Lender may assign its rights under this Promissory Note for security
      purposes, and in such event the assignee of this Promissory Note shall be entitled to enforce the
      provisions hereof and shall be a third party beneficiary of this
      Promissory Note.

            

    

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    

    
      	
              9.

            	
              This
      Promissory Note shall be construed and enforced in accordance with the
      laws of the State of California.

            

    

    

    
      
        	
                Excalibur International Marine
      Corporation

              
	
                Borrower

              
	 
      
	
                    

              
	
                Name
      of Authorized Representative

              
	 
      
	
                    

              
	
                Authorized
      Signature

              
	 
      
	
                Chairman

              
	
                Title

              
	 
      
	
                    

              
	
                Date

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