Document:

THIS 2nd SUPPLEMENTARY AGREEMENT
		is made on 1 July 2007
	 

	 
		BETWEEN
	 

	 
		CHINAWE.COM INC., whose principal executive
		office is situated at Room 1304-05, Dongbao Tower, 767 Dongfeng Road East,
		Guangzhou, China 510600 (the “Company”)
	 

	 
		CHINAWE ASSET MANAGEMENT LIMITED, whose
		principal executive office is situated at 1307, 13/F. Block A, 66-68 Tong Mi
		Road, Kowloon, Hong Kong (“CAM”)
	 

	 
		VIVIAN WAI WA CHU [Holder of H.K.I.C. No.
		________] (“Ms. Chuo”) of 1307, 13/F. Block A, 66-68 Tong Mi
		Road, Kowloon, Hong Kong
	 

	 
		WHEREAS the Company is a corporation listed
		on the Nasdaq-OTCIBB of the United States: CAM is a wholly-owned subsidiary of
		the Company and Ms. Chu is a director of the Company.
	 

	 
		This supplementary agreement is made to
		supplement the agreement dated May 6 2003 (the “Agreement”) and the
		supplementary agreement dated 1 January 2005 (the “Supplementary
		Agreement”) made between the Company and Ms. Chu.
	 

	 
		NOW IT IS HEREBY AGREED AS FOLLOWS:
	 

	 
		(1) The loan pursuant to the Supplementary
		Agreement (the “Loan”) was actually used by CAM and CAM should have
		the obligations to repay the principal and interests outstanding to
		Ms. Chu; and
	 

	 
		(2) The repayment term of the Loan is
		extended to 31 December 2007.
	 

	 
		Other terms in the Agreement and the
		Supplementary Agreement remain the same.
	 

	 
		 
	 

	 
			
				
				   CHINAWE.COM INC.
				

			 	
				
				   
				

			 	
				
				  CHINAWE ASSET 

				  MANAGEMENT LIMITED
				

			 	
				
				   
				

			 	
				
				  VIVIAN WAI WA CHU
				

			 
	
				
				  
 By:
				

			 	
				
				  /s/ Man Keung Wai
				

			 	
				
				   
				

			 	
				
				  By:
				

			 	
				
				  /s/ Man Keung Wai
				

			 	
				
				   
				

			 	
				
				  /s/ Vivian Chu
				

			 
	
				
				  Name:
				

			 	
				
				  Man Keung Wai
				

			 	
				
				   
				

			 	
				
				  Name:
				

			 	
				
				  Man Keung Wai
				

			 	
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 
	
				
				  Title:
				

			 	
				
				  CEO
				

			 	
				
				   
				

			 	
				
				  Title:
				

			 	
				
				  Directorexv4w32

 

EXHIBIT 4.32

First Amendment

To The

Savings & Profit Sharing Plan for Employees of

First Interstate BancSystem, Inc.

     1. Recitals. Section 12.1 of the Savings & Profit Sharing Plan for Employees
of First Interstate BancSystem, Inc. (the “Plan”) gives First Interstate BancSystem, Inc., as the
Plan Sponsor, the right to amend the Plan at any time. On July 26, 2006, the Board of Directors of
the Plan Sponsor delegated authority to the First Interstate BancSystem, Inc. Benefits Committee
(the “Committee”) to take any action with respect to the Plan to the extent that such action does
not result in additional funding obligations for the Plan Sponsor. The Committee hereby amends the
Plan to comply with changes in the law that became effective during the 2006 Plan Year and to
include certain provisions of the Pension Protection Act of 2006 that become effective January 1,
2007.

     2. Amendment of Plan. The following Amendment to the Plan is adopted effective
January 1, 2006, unless otherwise provided.

     (A) Effective March 1, 2007, Section 2.1(m) of the Plan shall be amended in its entirety to
read as follows:

	 	(m)	 	“Distribution Date” means a date as of which a Member’s Account
may be distributed or commence to be distributed. Effective March 1, 2007,
Distribution Date means the business day coinciding with or next following the
fifteenth day of:

	 	(1)	 	for purposes of distributions of Investment
Funds other than the Company stock Investment Fund, each calendar
month; and
	 
	 	(2)	 	for purposes of distributions of the Company
stock Investment Fund, the second month following the end of each
calendar quarter.

Prior to March 1, 2007, the business day coinciding with or next following
the fifteenth day of each calendar month shall be a Distribution Date.

     (B) The first sentence of Section 4.9(c) of the Plan shall be amended to read as follows:

A corrective distribution of Excess Before-Tax Contributions under this section
shall include Income allocable to such Excess Before-Tax Contributions for the Plan
Year and for the period after the close of the Plan Year to the date of distribution
(the “Gap Period”), to be determined in accordance with Regulations under Code
Section 401(k).

     (C) The first sentence of Section 4.11(e) of the Plan shall be amended to read as follows:

A corrective distribution of Excess Matching Contributions under this section shall
include Income allocable to such Excess Matching Contributions for the Plan Year and
for the Gap Period, to be determined in accordance with Regulations under Code
Section 401(m).

 

First Amendment to the Savings & Profit Sharing Plan for Employees of First Interstate BancSystem, Inc.

			
	Prepared by Holland & Hart LLP
	 	01/2006     1

 

 

     (D) Effective January 1, 2007, Section 6.3(b) of the Plan shall be amended by replacing “90
days” with “180 days,” wherever it occurs in such section.

     (E) Effective March 1, 2007, Section 6.4 of the Plan shall be amended in its entirety to read
as follows:

	 	6.4	 	Time of Distribution. A distribution under Section 6.1
or 6.2 shall be made or commence as soon as practicable following the Member’s
separation from Service or, if the distribution is subject to Section 6.3(b),
any Distribution Date thereafter as elected by the Member or the Beneficiary of
a deceased Member. Unless the Member otherwise elects, distribution of the
Member’s Account balance shall commence not later than the 60th day after the
close of the Plan Year in which the latest of the following events occur:

	 	(a)	 	The attainment by the Member of his Retirement Age;
	 
	 	(b)	 	The 10th anniversary of the date on which the
Member commenced participation in the Plan; or
	 
	 	(c)	 	The termination of the Member’s Service;

provided, however, that the foregoing shall not require the commencement of
benefits prior to the “Required Beginning Date” described in Section 6.5
unless the Participant has filed a claim for benefits with the Plan
Administrator. As permitted under Regulation Section 1.401(a)-14(d), if the
amount of the distribution required to commence under this Section 6.4
cannot be ascertained by the applicable Distribution Date, or if it is not
possible to make such payment on the applicable Distribution Date because
the Plan Administrator is unable to locate the Member after making
reasonable efforts to do so, a payment retroactive to such Distribution Date
may be made no later than 60 days after the earliest date on which the
amount of such payment can be ascertained under the Plan or the date on
which the Member is located, whichever is applicable.

     (F) Effective January 16, 2007, Section 6.6(b)(2) of the Plan shall be amended to replace
“January 15” with “November 15.”

     (G) Section 6.8 of the Plan shall be amended in its entirety to read as follows:

	 	6.8	 	Financial Hardship. For purposes of Sections 6.6(b)(3)
and 6.6(b)(4), financial hardship means one of the following situations:

	 	(a)	 	expenses for (or necessary to obtain) medical care for a
Participant, the Participant’s spouse, children or other dependents (as defined
in Code Section 152 without regard to Code Section 152(d)(1)(B)) as long as the
expenses for medical care would be deductible under Code Section 213(d)
(determined without regard to whether the expenses exceed 7.5% of adjusted
gross income);

 

First Amendment to the Savings & Profit Sharing Plan for Employees of First Interstate BancSystem, Inc.

			
	Prepared by Holland & Hart LLP
	 	01/2006     2

 

 

	 	(b)	 	costs directly related to the purchase of a principal residence
for the Participant (excluding mortgage payments);
	 
	 	(c)	 	payment of tuition, related educational fees and room and board
expenses for up to the next 12 months of post-secondary education for the
Participant, the Participant’s spouse, children or other dependents (as defined
in Code Section 152 without regard to Code Section 152(d)(1)(B));
	 
	 	(d)	 	payments necessary to prevent the eviction of the Participant
from the Participant’s principal residence or foreclosure on the mortgage on
that residence;
	 
	 	(e)	 	payments for burial or funeral expenses for the Participant’s
deceased parent, spouse, children or other dependents (as defined in Code
Section 152 without regard to Code Section 152(d)(1)(B));
	 
	 	(f)	 	expenses for the repair of damage to the Participant’s
principal residence that would qualify for the casualty deduction under Code
Section 165 (determined without regard to whether the loss exceeds 10% of
adjusted gross income); or
	 
	 	(g)	 	any other event that the Commissioner of the Internal Revenue
Service determines to be an immediate and heavy financial need within the
meaning of the safe harbor provisions of the Treasury regulations.

     (H) Section 6.9(b)(2) of the Plan shall be amended in its entirety to read as follows:

	 	(2)	 	For distributees other than a non-spouse Beneficiary of a
Member, an eligible retirement plan is an individual retirement account
described in Code Section 408(a), an individual retirement annuity described in
Code Section 408(b), an annuity plan or contract described in Code Sections
403(a) or 403(b), or a qualified trust described in Code Section 401(a), that
accepts the distributee’s eligible rollover distribution. “Eligible retirement
plan” shall also mean an eligible plan under Code Section 457(b), which is
maintained by a state, political subdivision of a state, or any agency or
instrumentality of a state or political subdivision of a state and which agrees
to separate account for amounts transferred into such plan from this Plan. In
the case of an eligible rollover distribution to a distributee who is a
non-spouse Beneficiary of a Member, eligible retirement plan shall be limited,
effective January 1, 2007, to an individual retirement account or individual
retirement annuity. In the case of an eligible rollover distribution to a
surviving spouse prior to January 1, 2002, an eligible retirement plan is
limited to an individual retirement account or individual retirement annuity.

     (I) Section 6.9(b)(3) of the Plan shall be amended by adding the following to the end thereof:

Effective January 1, 2007, distributee shall also include a non-spouse Beneficiary
of a Member.

 

First Amendment to the Savings & Profit Sharing Plan for Employees of First Interstate BancSystem, Inc.

			
	Prepared by Holland & Hart LLP
	 	01/2006     3

 

 

     (J) Effective March 1, 2007, the third paragraph of Section 8.2 of the Plan shall be amended
to read as follows:

The purchase price shall be the fair market value of the Company stock. In the case
of a transaction between the Plan and the Employer or another party in interest, the
fair market value of the Company stock shall be determined as of the date of the
transaction. In other cases, the fair market value of the Company stock shall be
determined as of the most recent Valuation Date.

     (K) Effective March 1, 2007, Section 8.3 of the Plan shall be amended in its entirety to read
as follows:

	 	8.3	 	Valuing Stock. Promptly after each Valuation Date, the
Plan Administrator shall cause a valuation to be made of the Company stock
Investment Fund as of such date. Such Company stock shall be valued at fair
market value, which, for so long as the Company stock is not traded on any
national or regional stock exchange, shall be determined by the Plan
Administrator in consultation with an independent appraiser meeting the
requirements of Code Sections 170(a)(1) and 401(a)(28).

     (L) Article XIII of the Plan shall be amended by adding a new Section 13.9 as follows:

	 	13.9	 	Qualified Hurricane Distribution. Notwithstanding any
provisions of the Plan to the contrary, qualified hurricane distributions (as
defined in Code Section 1400Q(a)(4)(A)) will be permitted under the Plan in
accordance with Code Section 1400Q and related guidance thereunder.

     3. Other Provisions. All other provisions of the Plan shall remain unamended and in
full force.

	 	 	 	 	 
	 	 	 
	 	By:  	                                              /s/ ROBERT A. JONES
 	 
	 	 	Robert A. Jones, Chairman 	 
	 	 	 	 
	 

 

First Amendment to the Savings & Profit Sharing Plan for Employees of First Interstate BancSystem, Inc.

			
	Prepared by Holland & Hart LLP
	 	01/2006     4

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