Document:

Unassociated Document

    MANAGEMENT
      AGREEMENT

    

    THIS
      AGREEMENT made as of December 03, 2006 to be effective November 24,
      2006.

     

    BETWEEN: 

    
      	 	 	
              CYOP
                Systems International
                Inc. a
                company duly incorporated under the laws of the State of Nevada under
                Certificate of Incorporation and having a place of business at Golden
                Cross House, 8 Duncannon Street, Strand, London, WC2N
                4JF 

            

    

    

    (Hereinafter
      called the "Company" or “CYOP”)

    

    OF
      THE
      FIRST PART

    

    AND:

     

    Ocean
      Eclipse Holdings Inc. a
      company
      duly incorporated under the laws of the Province
      of
      British
      Columbia
      under
      Certificate of Incorporation and having a place of registration
      at
Suite
      203
      - 2403 Marine Drive, West Vancouver, BC Canada V7V 1L3. The person who actually
      performs the work under this agreement will be Patrick Smyth.  

    

    OF
      THE
      SECOND PART

    

    WITNESSETH
      that the parties agree as a follows:

     

    APPOINTMENT

     

    
      	1.  	
              The
                Company engages the Consultant to provide services (the “Services”)
                described in Schedule “A” attached
                hereto.

            

    

     

    TERM

     

    
      	2.  	
              The
                Consultant will provide the Services in accordance with the provisions
                of
                this Agreement during the term of this Agreement (the “Term”) which Term
                will, notwithstanding the date of execution and delivery of this
                Agreement, conclusively deemed to have commenced on the effective
                date of
                this agreement and for a period of five (5) years, unless terminated
                pursuant to Article 11, of this
                Agreement.

            

    

     

    PAYMENT

     

    
      	3.  	
              The
                Company will pay to the Consultant, $10,000.00 (USD) per month, in
                full
                payment and reimbursement for providing the Services incurred in
                connection therewith, in addition to any bonuses, fees and expenses
                in the
                amounts, in the manner and at the times set out and attached hereto
                and
                the Consultant will accept such fees as full payment as
                aforesaid.

            

    

      

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    RECORDS

     

    
      	4.  	
              The
                Consultant will:

            

    

    

    
      	4.1.  	
              Establish
                and maintain records of the days on which the Consultant provides
                Services
                and of the time expended on each of these days in providing Services
                including travel time;

            

    

    

    
      	4.2.  	
              Establish
                and maintain books of accounts of all expenses incurred in providing
                the
                Services;

            

    

    

    
      	4.3.  	
              Maintain
                invoices, receipts and vouchers for all expenses referred to in this
                Agreement; and 

            

    

    

    
      	4.4.  	
              Upon
                the request of the Company, provide information, in summary form,
                relative
                to the records referred to in this
                Agreement;

            

    

    

    
      	4.5.  	
              and
                the Company will have access at all reasonable times to such records,
                books of account, invoices, receipts and vouchers for the purposes
                of
                copying or auditing (or both) the
                same.

            

    

     

    INDEPENDENT
      CONTRACTOR

     

    
      	5.  	
              The
                Consultant will be an independent contractor and not the servant,
                employee
                or agent of the Company it being recognized, however, that to the
                extent
                the provisions of this Agreement result in the creation of an agency
                relationship to allow the Consultant to perform certain of the Services
                on
                behalf of the Company, then the Consultant will, in that context,
                be the
                agent of the Company, as the case may
                be.

            

    

    

    
      	5.1.  	
              The
                Company may, from time to time, give such instructions to the Consultant
                as it considers necessary in connection with the provision of the
                Services, which instructions the Consultant will follow, but the
                Consultant will not be subject to the control of the Company in respect
                to
                the manner in which such instructions are carried
                out.

            

    

    

    
      	5.2.  	
              The
                Consultant will pay, promptly, as the same become due and payable
                as a
                result or consequence of monies paid or payable by the Company to
                the
                Consultant pursuant to this Agreement, all taxes, and contributions
                payable pursuant to any or all, as the case may be, of the any
                contributions deemed required by the Revenue Service of the country
                in
                which the Consultant is located.

            

    

    

    
      	5.3.  	
              The
                Consultant agrees to indemnify and save harmless the Company against
                and
                for all and any claims, assessments, penalties, interest charges
                and legal
                fees and disbursements and taxes incurred as result of having to
                defend
                same made against the Company as a result of the Consultant’s failure to
                comply with Article 5.2, or as a result of any decisions or investigations
                made by any government agency or body in connection with the relationship
                between the parties hereto.

            

    

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    
      	5.4.  	
              The
                Consultant may, subject to the compliance with the provisions of
                this
                Agreement and at any time or times during the Term, carry on the
                business
                of providing services to the general public or other companies either
                alone or in association or partnership with another or others, so
                long as
                it does not create a conflict of interest with the interests of the
                Company, or hinders the Consultant from his commitment to providing
                the
                requisite hours of Services to the Company, or does not prevent him
                from
                providing the Services in a timely and competent
                manner.

            

    

    

    
      	5.5.  	
              The
                Company reserves the right to refuse any person retained by the Consultant
                to provide the Services that it deems is unable to provide the Services
                in
                a manner and standard established by the
                Company.

            

    

    

    
      	5.6.  	
              The
                Consultant will not in any manner whatsoever commit or purport to
                commit
                the Company to the payment of any money to any person, firm, or
                corporation except with the prior written permission of the
                Company.

            

    

     

    CERTIFICATIONS
      AND LICENCES

     

    
      	6.  	
              The
                Consultant will at his own cost, obtain and maintain in force throughout
                the Term of this Agreement all certifications and licenses necessary
                to
                qualify himself in connection with carrying out his business and
                to
                provide the Services in a lawful manner to the
                Company.

            

    

    

    REPORTS

     

    
      	7.  	
              The
                Consultant will upon request, from time to time, of the Company fully
                inform the Company of the matters and things done, and to be done
                by the
                Consultant in connection with the provisions of the Services and,
                if so
                requested by the Company, submit such information in writing in a
                timely
                manner.

            

    

    

    
      	7.1.  	
              All
                property including, but not limited to, files, manuals, equipment,
                securities, and monies of any and all customers of the Company related
                to
                the provision of the Services that are, from time to time, in the
                possession or control of the Consultant will be, at all times, the
                exclusive property of the Company. All aforesaid property will be
                forthwith delivered by the Consultant to the Company on the earlier
                of:

            

    

    

    
      	7.1.1.  	
              The
                termination of this Agreement; or

            

    

    

    
      	7.1.2.  	
              The
                completion by the Consultant of the provisions of the Services with
                respect thereto; or

            

    

    

    
      	7.1.3.  	
              Upon
                the request, at any time, by the
                Company.

            

    

     

    CONFIDENTIALITY

     

    
      	8.  	
              The
                Consultant will treat as confidential and will not, without the prior
                written consent of the Company, publish, release or disclose or permit
                to
                be published, released or disclosed, either before or after the
                termination of this Agreement, any information supplied to, obtained
                by,
                or which comes to the knowledge of the Consultant as a direct or
                indirect
                result of this Agreement except insofar as such publication, release
                or
                disclosure is necessary to enable the Consultant to fulfill the
                obligations under this Agreement.

            

    

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    
      	8.1.  	
              During
                the term of contract and for 12 months thereafter, the Consultant
                will not
                use, directly or indirectly, for his own benefit, or disclose, except
                in
                the performance of his duties
                hereunder:

            

    

    

    
      	8.2.  	
              Any
                trade secrets, confidential information or know-how relating to
                customers;

            

    

    

    
      	8.3.  	
              Any
                agreements or communications, written or verbal, including but not
                limited
                to, information regarding the Company’s Business which he has known since
                his association with the Company, or becomes aware of during his
                contract
                with the Company,

            

    

    

    
      	8.4.  	
              To
                any person or persons, other than the directors or the management
                of the
                Company. This restriction will not apply to any knowledge or information
                which is or may become (otherwise and through a default of the Consultant)
                available to the public generally; or to any information required
                to be
                given or made public pursuant to an order of a court of competent
                jurisdiction or to information which is or becomes known to the Consultant
                on a non-confidential basis prior to his receipt of the information
                during
                the course of discharging his duties to the
                Company.

            

    

     

    CONFLICT
      AND NON-COMPETITION

     

    
      	9.  	
              The
                Consultant will not, during the Term, provide any services to any
                person,
                firm, or corporation where the performance of that service or the
                provision of that advice may or does, in the reasonable opinion of
                the
                Company, give rise to a conflict of interest between the obligations
                of
                the Consultant, under this Agreement, and the obligations of the
                Consultant to such other person, firm or
                corporation.

            

    

    

    
      	9.1.  	
              If
                the Consultant is asked by any person, firm, or corporation, otherwise
                than pursuant to this Agreement, to perform a service or to advice
                and in
                the opinion of the Consultant the performance of that service or
                the
                provision of that advice might result in the Consultant breaching
                Article
                9, then the Consultant will forthwith notify the Company, of the
                particular circumstances and the Company will thereafter promptly
                notify
                the Consultant whether or not the Consultant may, in light of those
                circumstances and Article 9, perform that service or provide that
                advice.

            

    

    

    
      	9.2.  	
              The
                Consultant further agrees to not, directly or indirectly, solicit
                any of
                the existing customers of the Company for any purpose which may be
                construed in any way as in direct or indirect competition with the
                Company
                for a period of 12 months from the date of termination of the Consultant's
                contract with the Company.

            

    

    

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    ASSIGNMENT
      AND SUB-CONTRACTING

     

    
      	10.  	
              The
                Consultant will not, without the prior written consent of the Company,
                assign or transfer this Agreement or sub-contract any or all of the
                obligations of the Consultant under this
                Agreement.

            

    

    

    
      	10.1.  	
              No
                sub-contract entered into by the Consultant will relieve the Consultant
                from any of the Consultant’s obligations under this Agreement or impose
                any obligations or liability upon the Company to any such sub-contractor.
                

            

    

    

    
      	10.2.  	
              The
                Consultant may, notwithstanding, assign any or all of the monies
                payable
                by the Company to the Consultant pursuant to this Agreement to any
                person,
                firm or corporation.

            

    

     

    TERMINATION

     

    
      	11.  	
              Notwithstanding
                any other provision of this Agreement,
                if:

            

    

    

    
      	11.1.  	
              the
                either party fails to comply with any provision of this Agreement;
                or

            

    

    

    
      	11.2.  	
              any
                representation or warranty made by either party in this Agreement
                is
                untrue or incorrect; or

            

    

    

    
      	11.3.  	
              either
                party breaches any covenant in Article
                8.

            

    

    

    
      	11.4.  	
              Then,
                and in addition, to any other remedy or remedies available to the
                Company,
                the Company may, at its sole discretion and option, terminate this
                Agreement by written notice of termination given by the Company to
                the
                Consultant and if such option is exercised, the Company will not
                be under
                any further obligation to the Consultant except to pay the Consultant
                such
                fees and expenses as the Consultant may be entitled to receive, pursuant
                to Schedule “B” attached hereto, for Services provided and expenses
                incurred in connection therewith to the date this Agreement is so
                terminated.

            

    

    

    
      	11.5.  	
              Notwithstanding
                any other provision of this Agreement, this Agreement may be terminated
                by
                either party giving, at any time, and for any reason, 90 days prior
                written notice of termination to the other party and if this Agreement
                is
                so terminated the Company will be under further obligation to the
                Consultant to pay to the Consultant fees and expenses subject to
                Schedule
                A, be entitled to receive pursuant to Schedule “B” attached hereto, for
                Services provided and expenses incurred in connection therewith to
                the
                date this Agreement is so
                terminated.

            

    

    

    
      	12.  	
              CHANGE
                OF CONTROL

            

    

    
      	12.1.  	
              After
                a Change in Control: If a Change in Control occurs, the Company may
                not
                provide notice of termination of this Agreement within the one-year
                period
                after the Change in Control. In other words, in this case, the effective
                date of the termination of the Agreement may be no earlier than two
                years
                after the Change in Control. For all purposes under this Agreement,
                the
                term " Company " shall include any successor to the Company‘s business
                and/or assets that executes and delivers the assumption agreement
                described in this Agreement or that becomes bound by this Agreement
                by
                operation of law.

            

    

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

    
      	12.2.  	
              A
                ‘Change in Control’ shall mean:

            

    

    

    
      	12.2.1.  	
              The
                consummation of a merger or consolidation of the Company with or
                into
                another entity or any other corporate reorganization, if more than
                50% of
                the combined voting power of the continuing or surviving entity’s
                securities outstanding immediately after such merger, consolidation
                or
                other reorganization is owned by persons who were not stockholders
                of the
                Company immediately prior to such merger, consolidation or other
                reorganization; or

            

    

    

    
      	12.2.2.  	
              the
                sale, transfer or other disposition of all or substantially all of
                the
                Company’s assets; or

            

    

    

    
      	12.2.3.  	
              A
                change in the composition of the Board of Directors, as a result
                of which
                fewer than one-half of the incumbent directors are directors who
                either:

            

    

    

    
      	12.2.3.1.  	
              Had
                been directors of the Company twenty-four (24) months prior to such
                change; or

            

    

    
      	12.2.3.2.  	
              Were
                elected, or nominated for election, to the Board of Directors with
                the
                affirmative votes of at least a majority of the directors who had
                been
                directors of the Company twenty-four (24) months prior to such change
                and
                who were still in office at the time of the election or
                nomination.

            

    

    

    
      	12.3.  	
              After
                a Change in Control, then the Contractor shall be entitled to receive
                the
                following payments and benefits:

            

    

    

    
      	12.3.1.  	
              Severance
                (2x payment): The Company shall pay to the Contractor following the
                date
                of the employment termination and over the succeeding 24 months,
                in
                accordance with standard payroll procedures, an amount equal to the
                following:

            

    

    
      	12.3.1.1.  	
              Two
                hundred percent (200%) of the Contractor Base Fee in effect on the
                date of
                the employment termination; Plus

            

    

    
      	12.3.1.2.  	
              Two
                hundred percent (200%) of the Contractor’s annual incentive bonus earned
                on a quarterly basis as of the date of the termination, assuming
                the
                Contractor was employed on the last day of the quarter in which
                termination of employment occurred.

            

    

    

    
      	12.4.  	
              Any
                other provision of this Agreement or of the Corporation’s Incentive Bonus
                Plan notwithstanding, after the amount described in this Subsection
                (a)
                has been paid to the Contractor, the Contractor shall have no further
                interest in such Plan.

            

    

    

    
      	12.5.  	
              No
                Mitigation: The Contractor shall not be required to mitigate the
                amount of
                any payment or benefit contemplated by this section, nor shall any
                such
                payment or benefit be reduced by any earnings or benefits that the
                Contractor may receive from any other source. The
                Continuation Period shall be counted as employment with the Company
                for
                purposes of vesting in each of the incentive awards heretofore or
                hereafter granted to the Contractor by the Company,
                any contrary provisions of such awards or the applicable plan
                notwithstanding. This Subsection shall not be construed to require
                any
                member of the Company
                to
                grant any new awards to the Contractor during the Continuation Period.
                The
                parties understand and agree that the Continuation Period also counts
                as
                employment with the Company
                for
                purposes of determining the expiration date of any incentive award
                granted
                by any member of the Company
                and
                held by the Contractor when employment
                terminates."

            

    

    

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

    

    
      	13.  	
              INDEMNIFICATION

            

    

    

    
      	13.1.  	
              The
                Company shall indemnify the Consultant if he is a party or is threatened
                to be made a party to any threatened, pending or completed action,
                suit or
                proceeding, whether civil, criminal, administrative or investigative
                (other than an action by, or in the right of the Company) by reason
                of the
                fact that he is or was a director, officer, employee or agent of
                the
                Company, or is or was serving at the request of the Company as a
                director,
                officer, employee or agent of any other corporation, partnership,
                joint
                venture, trust or other enterprise against expenses (including attorney's
                fees), judgments, fines, amounts paid in settlement actually and
                reasonably incurred by him in connection with such action, suit or
                proceeding, including any appeal thereof, if he acted in good faith
                in a
                manner he reasonably believed to be in, or not opposed to the best
                interests of the Company, and with respect to any criminal action
                or
                proceeding, had no reasonable cause to believe that his conduct was
                unlawful. The termination of any action, suit or proceeding by judgment,
                order, settlement, conviction or upon a plea of nolo contenders or
                its
                equivalent shall not create, of itself, a presumption that the person
                did
                not act in good faith or in a manner which he reasonably believed
                to be
                in, or not opposed to, the best interests of the Company or, with
                respect
                to any criminal action or proceeding, had reasonable cause to believe
                that
                his conduct was unlawful.

            

    

    

    
      	13.2.  	
              To
                the extent that the Consultant has been successful on the merits
                or
                otherwise in defense of any action, suit or proceeding referred to
                in
                Section 12.1 above, or in any defense of any claim, issue or matter
                therein, he shall be indemnified against expenses, including attorneys
                fees, actually and reasonably incurred by him in connection
                therewith.

            

    

    

    

    OFFICE
      SPACE AND CLERICAL ASSISTANCE

    

    
      	14.  	
              The
                Consultant, in connection with the provision of any of the Services,
                shall
                be provided with office space, business equipment, or clerical assistance
                then the Company shall provide the Consultant with such office space,
                business equipment, or such clerical assistance as the Consultant
                considers necessary for such period or periods of time.
                

            

    

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

     

    ABSENCE

     

    
      	15.  	
              The
                Consultant may, during the Term, absent himself from providing the
                Services for up to 60 working days, or such other absence in the
                aggregate, provided that:

            

    

    

    
      	15.1.  	
              the
                Company’s Board of Directors pre-approves, any such absence;
                and

            

    

    

    
      	15.2.  	
              and
                pursuant to Schedule “A”, consultant shall be paid in full for 30 days per
                calendar year; and

            

    

    

    
      	15.3.  	
              if
                this Agreement is, for any reason, terminated prior to the end of
                the
                Term, then the Consultant will, on a pro rata basis, account for
                any
                absence for purposes of determining fees and expenses that the Consultant
                may be entitled to receive, pursuant to Schedule “B” attached
                hereto.

            

    

     

    NON
      WAIVER

     

    
      	16.  	
              No
                provision of this Agreement and no breach by a party of any such
                provision
                will be deemed to have been waived unless such waiver is in writing
                signed
                by other party.

            

    

    

    
      	16.1.  	
              The
                written waiver by a party of any breach of any provision of this
                Agreement
                by other party will not be deemed a waiver of such provision or of
                any
                subsequent breach of the same or any other provision of this
                Agreement.

            

    

     

    ARBITRATION

    

    
      	17.  	
              All
                claims, disputes and other matters in questions arising out of or
                relating
                to this Agreement or to a breach or alleging breach thereof may,
                if the
                parties mutually agree in writing, be referred to a single arbitrator
                under the Commercial
                Arbitration Act,
                R.S.B.C. 1996, c. 55, and if so referred, the decision of that arbitrator
                will be final, conclusive and binding upon the
                parties.

            

    

     

    NOTICES

    

    
      	18.  	
              Any
                notice, other than document or payment that, either party may be
                required
                or may desire to give to the other party will be conclusively deemed
                validly given to and received by the addressee, if served personally
                on
                the date of such personal service or, if mailed, on the second business
                day after the mailing of the same in British Columbia by prepaid
                post
                addressed, if to the Company: 

            

    

     

    CYOP
      Systems International Inc.

    Golden
      Cross House,

    8
      Duncannon Street,

    Strand,

    London,
      

    WC2N
      4JF

    Attention:
      Board of Directors

     

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

     

    And
      if to
      the Consultant:

     

    Ocean
      Eclipse Holdings Inc.

    c/o
      Stewart Winch Lawyers

    Suite
      203
      - 2403 Marine Drive, West Vancouver, BC Canada V7V 1L3

    

     

    
      	18.1.  	
              Either
                party may, from time to time, advise the other party by notice in
                writing
                of any change of address of the party giving such notice and from
                and
                after the giving of such notice the address therein specified will,
                for
                the purposes of paragraph 16, be conclusively deemed to be the address
                of
                the party giving such notice. 

            

    

     

    CONSULTANT’S
      COVENANTS

     

    
      	19.  	
              The
                Consultant acknowledges and agrees that the Company has certain
                confidential information which is defined to include, but not limited
                to,
                knowledge of trade secrets whether patented or not, computer programs,
                research and development data, testing and evaluation plans, business
                plans, opportunities, forecasts, products, strategies, proposals,
                suppliers, sales, manuals, work programs, financial and marketing
                information, customer lists or names, and information regarding customers,
                contracts and accounts of the Company whether printed or stored
                electronically (hereinafter referred to as “Confidential
                Information”).

            

    

     

    
      	19.1.  	
              The
                Consultant agrees the Confidential Information developed or acquired
                by
                the Company is among the Company’s most valuable assets and its value may
                be destroyed by dissemination or unauthorized use.
                

            

    

     

    
      	19.2.  	
              The
                Consultant agrees that during the term of this Agreement, or at any
                time
                thereafter, he shall not, either directly or indirectly, disclose,
                divulge, or communicate any Confidential Information, or any information
                whatsoever relating to the Company or its customers to any person
                other
                than for the Company’s purposes and benefit, and shall not use for any of
                his own purposes that he will acquire during the term of his employment
                with the Company.

            

    

     

    
      	19.3.  	
              The
                Consultant agrees that he shall not, without the prior written consent
                of
                the Company, at any time for a period of 12 months following the
                date of
                termination of this Agreement for whatever circumstance and reason,
                and
                with or without cause, on his own behalf, or on behalf of any person
                competing or endeavouring to compete with the Company, directly or
                indirectly, solicit, endeavour to solicit or gain the custom of,
                canvass
                or interfere with any person that:

            

    

    

    
      	19.3.1.  	
              is
                a customer of the Company at the date this Agreement is
                terminated;

            

    

    

    
      	19.3.2.  	
              was
                a customer of the Company at any time within 12 months prior to the
                termination of this Agreement; 

            

    

     

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

     

    
      	19.3.3.  	
              has
                been pursued as a prospective customer by or on behalf of the Company
                at
                any time within 12 months prior to the termination of this Agreement,
                and
                in respect of whom the Company has not determined to cease all such
                pursuit; or

            

    

    

    
      	19.3.4.  	
              use
                his personal knowledge of or influence over any such customer or
                any other
                person known to the Consultant to be or have been a customer of the
                Company to or for his own benefit or that of any other person competing
                or
                endeavoring to compete with the
                Company.

            

    

    

    
      	19.4.  	
              The
                Consultant agrees that upon any termination of this Agreement, he
                shall at
                once deliver to the Company all books, manuals, reports, documents,
                records, effects, money, securities, whether in print or stored
                electronically, or other property belonging to the Company or for
                which
                the Company is liable to others which are in his possession, charge,
                control or custody.

            

    

    

    
      	19.5.  	
              The
                Consultant agrees that notwithstanding any termination of this Agreement
                for any reason or circumstance whatsoever, and with or without cause,
                all
                of the provisions entitled “Consultant’s Covenants” in this Agreement and
                any other provision in this Agreement necessary to give effect thereto,
                shall continue in full force and effect following such
                termination.

            

    

    

    
      	19.6.  	
              The
                Consultant agrees that compliance with this Agreement is absolutely
                necessary for the Company to protect is overall business and position
                in
                the marketplace and that a breach of the obligation of secrecy and
                confidentiality of information of the Company and the other covenants
                and
                agreements contained in this Agreement will result in irreparable
                and
                continuing damages to the Company for which there will be no adequate
                remedy at law. As a result and in the event of any breach of any
                such
                obligation, covenant or agreement, the Company shall be entitled
                to such
                injunctive and other relief as may be proper or as it may be entitled
                to
                for each and every instance of such breach from the Consultant.
                

            

    

    

    
      	19.7.  	
              The
                Company may exercise these remedies at such times and in such order
                as it
                may choose, and such remedies shall be cumulative. In the event that
                the
                Company retains counsel in endeavouring to enforce this Agreement,
                it
                shall be entitled to recover, in addition to all other relief available,
                it s related expenses and legal fees, on a solicitor and own client
                basis,
                as well as all applicable taxes paid and disbursements incurred from
                the
                Consultant.

            

    

     

    ENTIRE
      AGREEMENT

     

    
      	20.  	
              This
                Agreement constitutes the entire agreement between the parties and
                no
                representations, warranties, understandings or agreements, oral or
                otherwise, exist between the parties, except as expressly set out
                in this
                Agreement.

            

    

     

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

     

    MISCELLANEOUS

     

    
      	21.  	
              This
                Agreement will be governed by and construed in accordance with the
                laws of
                the Province of British Columbia and the United
                Kingdom.

            

    

     

    
      	21.1.  	
              The
                Schedules to this Agreement are an integral part of this Agreement
                as if
                set out at length in the body of this
                Agreement.

            

    

     

    
      	21.2.  	
              The
                headings appearing in this Agreement have been inserted for reference
                and
                as a matter of convenience only, and in no way define, limit or enlarge
                the scope of any provision of this
                Agreement.

            

    

     

    
      	21.3.  	
              If
                any covenant or provision contained in this Agreement is determined
                to be
                void, invalid or unenforceable in whole, or in part for any reason
                whatsoever, it shall not be deemed to affect or impair the validity
                or
                enforceability of any other covenant or provisions herein, and such
                unenforceable covenant or provisions or part thereof shall be treated
                as
                severable from the remainder of the
                Agreement.

            

    

     

    
      	21.4.  	
              No
                modification, amendment or variation hereof shall be of effect or
                binding
                upon the parties unless agreed to in writing by each of them and
                thereafter such modification, amendment or variation shall have the
                same
                effect as if it had originally formed part of this
                Agreement.

            

    

     

    
      	21.5.  	
              In
                this Agreement wherever the singular or masculine is used it will
                be
                construed as if the plural or feminine or neuter, as the case may
                be, had
                been used where the context or the parties so
                require.

            

    

     

    
      	21.6.  	
              Any
                reference to a statute in this Agreement, whether or not that statute
                has
                been defined or cited, includes:

            

    

     

    
      	21.6.1.  	
              all
                regulations made under it;

            

    

     

    
      	21.6.2.  	
              any
                amendments made to it and in force;
                and

            

    

     

    
      	21.6.3.  	
              any
                statute passed in replacement of or in substitution for
                it.

            

    

      

    REPRESENTATIONS
      AND WARRANTIES

     

    
      	22.  	
              The
                Consultant represents and warrants to the Company
                that:

            

    

    

    
      	22.1.1.  	
              The
                Consultant is not aware of any disciplinary matters or proceedings
                pending. 

            

    

    

    
      	22.1.2.  	
              He
                is not an undischarged bankrupt;
                and

            

    

     

    
      
        
        

      

      
        11

        
          

        

      

      
        
        

      

    

     

    
      	22.1.3.  	
              He
                will and if required by law be bonded and all costs associated with
                acquiring that bonding will the sole responsibility of the
                Consultant.

            

    

    

    
      	22.2.  	
              All
                representations and warranties made in this
                Agreement:

            

    

    

    
      	22.2.1.  	
              are
                material;

            

    

    

    
      	22.2.2.  	
              Will
                conclusively be deemed to have been relied upon by the Company in
                entering
                into this Agreement, notwithstanding any prior or subsequent investigation
                by the Company; and 

            

    

    

    
      	22.2.3.  	
              Will
                continue in full force and effect so long as this Agreement remains
                in
                force.

            

    

     

    IN
      WITNESS WHEREOF the parties have executed this Agreement by initialing each
      page
      and signing below this ___ day of December 2006.

     

     

    
      	CYOP
              Systems International Inc.	 	 	 
	 	 	 	 	 
	Per:	 	 	 	 
	 	
              
(Director)
              Randal Peterson	 	 	
            
	 	 	 	 	 
	Per:	  	 	 	 
	 	
              
                

              

              (Director) Jorge Andrade

            	 	 	 
	 	 	 	 	 
	 	
            	 	 	 
	Patrick
              Smyth
              (Consultant)	 	 	 
	 	 	 	 	 
	Per: 	 	 	 	 
	 	
              
 	 	 	 

    

     

    
      
        
        

      

      
        12

        
          

        

      

      
        
        

      

    

     

    Schedule
      “A”

    

    

    
      	1.  	
              The
                Consultant agrees to contract Patrick Smyth to perform the
                Services.

            

    

    

    
      	2.  	
              The
                Consultant will be engaged as the Chairman of the Board and Chief
                Executive Officer of the Company. Duties will
                include;

            

    

    

    
      	a.  	
              As
                the Chairman of the Board, Consultant shall preside at all meetings
                of the
                Board of Directors and exercise and perform such other powers and
                duties
                as may from time to time be assigned to him by the Board of Directors
                or
                prescribed by Company Bylaws.

            

    

    

    
      	b.  	
              As
                Chief Executive Officer, Consultant shall have management powers
                of the
                corporation. His duties shall include but not be limited to administration
                of the corporation, presiding over shareholder meetings, general
                supervision of the policies of the corporation as well as general
                management. The CEO shall execute contracts, mortgages, loans, and
                bonds
                under the seal of the corporation. The CEO shall have such other
                duties
                and powers as determined by the Board of Directors by resolution.
                He shall
                preside at all meetings of the shareholders, and in the absence of
                the
                Chairman of the Board, shall preside at all meetings of the Board
                of
                Directors. He shall be ex-officio a member of all the standing committees,
                if any, and shall have such other powers and duties as may be prescribed
                by the Board of Directors or by Company
                Bylaws.

            

    

    

    

    Hours
      of Work

    

    
      	1.  	
              The
                Consultant will devote such time as is required to maintain corporate
                operations to a maximum of 40 hours per week non cumulative, as and
                being
                a combination of attendance at the Company’s designated office, attending
                meetings outside the office and commuting, to provide the
                Services.

            

    

    

    
      	2.  	
              The
                Consultant shall be provided 30 days paid vacation per calendar
                year.

            

    

    

    Remuneration
      Rate and Payment Schedule

    

    
      	3.  	
              The
                remuneration of the Consultant for the Services shall be at the minimum
                rate of $10,000.00 USD per month, payable monthly in
                advance.

            

    

    

    
      	4.  	
              The
                Term of the contact is five (5)
                years.

            

    

    

    
      
        
        

      

      
        13

        
          

        

      

      
        
        

      

    

     

    Bonus
      Structure

    

    
      	5.  	
              The
                remuneration for the Consultant shall also provide for an additional
                amount(s) based on the monthly gross revenues of the Company. For
                each
                USD$100,000.00 in gross revenues, the Consultant shall be paid a
                bonus of
                USD $2500.00. As an example: 

            

    

     

    
      	Monthly
              Gross Company Revenue	 	Monthly
              Bonus
	
            	 	
            
	
              USD$100,000.00

            	 	USD
              $2500.00
	USD$200,000.00	 	USD
              $5000.00
	USD$500,000.00	 	USD
              $10,000.00
	USD$1,000,000.00	 	USD
              $20,000.00

    

     

     

    The
      remuneration for the Consultant shall also provide for an additional amount(s)
      based on the savings made to the Company on its accounts payables list at the
      time of the signing of the Agreement. For each USD$100,000.00 the Consultant
      removes from the accounts payables on the Company’s balance sheet, the
      Consultant shall be paid a bonus of USD $10,000.00 on a pro rated basis. This
      is
      primarily an incentive to reduce the amounts outstanding due to third
      parties.

    

    Stock
      Options

    

    
      	6.  	
              The
                Consultant shall be immediately eligible for Company stock options
                based
                on the average daily weighted price of the stock as per NASD & SEC
                regulations. The options already paid out will survive any termination
                of
                the contract by either party. The options shall be issued no later
                than
                April 01 of each calendar year, payable for the previous
                year.

            

    

    

    The

      amount of options shall be as follows:

    

    Year
      2006                        Options
      -
      500,000

    Year
      2007   Options
      -
      500,000

    Year
      2008   Options
      -
      500,000

    Year
      2009   Options
      -
      500,000

    Year
      2010   Options
      -
      500,000

    

    
      	7.  	
              The
                Consultant shall be immediately eligible for Company S8 shares as
                per NASD
                & SEC regulations. The S8 shares shall be issued no later than April
                01 of each calendar year, payable for the previous
                year.

            

    

    

    The
      amount of options shall be as follows:

    

    Year
      2006                        S8
      Shares
      - 2% of outstanding common shares

    Year
      2007   S8
      Shares
      - 2% of outstanding common shares

    Year
      2008   S8
      Shares
      - 2% of outstanding common shares

    Year
      2009   S8
      Shares
      - 2% of outstanding common shares

    Year
      2010   S8
      Shares
      - 2% of outstanding common shares

     

    
      
        
        

      

      
        14

        
          

        

      

      
        
        

      

    

     

    Expenses

    

    
      	8.  	
              The
                company shall reimburse business related expenses up to $3000.00
                USD in
                any calendar month without pre-approval.

            

    

    

    
      	9.  	
              Any
                expenditure in excess of $3000.00 USD cumulative in a given calendar
                month
                must be pre-approved by the Board of
                Directors.

            

    

    

    
      	10.  	
              Re-imbursements
                of said expenses to be made in a timely fashion and in any event
                not later
                than 30 days after presentation of receipts as described
                herein.

            

    

     

    
      
        
        

      

      
        15Financial
      Advisory Agreement

    

    

    This
      FINANCIAL
      ADVISORY AGREEMENT
      (hereinafter referred to as “this
      Agreement”)
      is
      made and entered into on the 15th
      day of
      October 2006 in Beijing.

    

    BETWEEN:

    

    
      	
              Party
                A:

            	
              (1)
                BEIJING
                HOLLYSYS CO., LTD.,
                HANGZHOU
                HOLLYSYS AUTOMATION CO., LTD. and their
                shareholders

            

    

     

    (2)
      And
      any new
      companies established by the shareholders of Beijing HollySys Co., Ltd. and
      Hangzhou HollySys Automation Co., Ltd. for
      the
      purpose of reverse merger with the target company listed on OTCBB in
      U.S.

    

    
      	
              Party
                B:

            	
              UPPER
                MIX INVESTMENTS LIMITED, and

              TIME
                KEEP INVESTMENT LIMITED

            

    

     

    

    WHEREAS:

    

    
      	
              1.

            	
              Party
                A is incorporated and validly existing under the
                Company Law of the People’s Republic of China;

            

    

     

    
      	
              2.

            	
              Party
                B is an investment advisory and management company incorporated in
                British
                Virgin Island with limited liability;
                and

            

    

     

    
      	
              3.

            	
              Party
                A is aimed at listing on the U.S. OTCBB and switching to Nasdaq through
                SPAC model. Party A hence engages Party B as the Financial Advisor
                to
                propose plans and advises on the merger and acquisition transaction
                with
                SPAC listed on OTCBB in U.S.(hereinafter referred to as “Target
                Company”)
                and the switch from OTCBB to Nasdaq after the above
                transaction.

            

    

    

    NOW
      THEREFORE,
      Party A
      and Party B enter into this Agreement through mutual negotiation based on the
      following conditions:-

    

    
      	1.	
              COMMITMENT

            

    

    

    
      	 	
              1.1

            	
              Party
                A has entrusted Party B with privileges to represent in the capacity
                of
                Party A’s Financial Advisor in the M&A and NASDAQ listing (hereinafter
                referred to as “the
                Transaction”)
                related procedures for the Target
                Company.

            

    

     

    
      	 	
              1.2

            	
              Party
                B, while representing in the capacity as Party A’s Financial Advisor in
                the Transaction related procedures for the Target Company, is obligated
                to
                provide financial advices including but not limited
                to:

            

    

     

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

       

    

    
      	 	
              (1)

            	
              Get
                financials of Party A in readiness for audit and asset
                evaluation;

            

    

    
      	 	
              (2)

            	
              Propose
                sound advices for the Transaction as well as providing feasible business
                restructuring plans and assisting in the effective implementation
                of such
                plan;.

            

    

    
      	 	
              (3)

            	
              Cooperate
                and communicate between Party A and other parties related to the
                Transaction, including government agencies and intermediate
                agencies;

            

    

    
      	 	
              (4)

            	
              Participate
                in negotiations with the Target Company as required by Party
                A;

            

    

    
      	 	
              (5)

            	
              Analyze
                and solve issues raised from the transaction with other
                parties;

            

    

    
      	 	
              (6)

            	
              Conduct
                any other necessary consulting services related to the Transaction;
                and

            

    

    
      	 	
              (7)

            	
              Arrange
                Due Diligence on Target Company and other works related to the
                Transaction.

            

    

    

    

    
      	2.	
              OBJECTIVE

            

    

    

    Party
      B,
      as the Financial Advisor of Party A for the Transaction, shall achieve the
      following objectives:

    

    
      	 	
              2.1

            	
              Achieving
                the minimum pricing in common shares received by Party A from Target
                Company is no less than 16,000,000 (including
                16,000,000);

            

    

    
      	 	
              2.2

            	
              Party
                A receiving above 50% interest of equity of Target
                Company;

            

    

    
      	 	
              2.3

            	
              Party
                A controlling the Board of Directors of Target Company; and
                

            

    

    
      	 	
              2.4

            	
              Listing
                on Nasdaq upon consummation of the
                Transaction.

            

    

    

    
      	3.	
              PERIOD
                OF ENTRUSTMENT 

            

    

    

    This
      Agreement shall come into effective upon signature date and expire upon the
      consummation of the Transaction. During the period of entrustment, Party A
      agrees that if Party A entrusts any other financial advisory or consulting
      third
      parties with any activities related to the Transaction with the Target Company
      as the Commitment set forth in this Agreement, Party B shall have the right
      to
      charge Party A with all the advisory services fee set force in this
      Agreement.

    

    

    
      	4.	
              RIGHTS
                AND OBLIGATIONS 

            

    

    

    
      	4.1	
              Party
                A’s Rights and Obligations

            

    

    

    
      	4.1.1	
              Party
                A shall provide valid and completed information and documents necessary
                for Party B to enforce the Agreement, including but not limited to
                the
                documents, accounting information and any information requested by
                Party B
                for fulfilling the obligations as the Financial
                Advisor;

            

    

    

    
      	4.1.2	
              Party
                A agrees to actively cooperate with Party B to complete entrusted
                works in
                time; and 

            

    

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

       

    

    
      	4.1.3	
              Party
                A agrees to pay related expenses, including Financial Advisory Fee,
                etc.

            

    

     

    
      	4.2	
              Party
                B’s Rights and Obligations

            

    

    

    
      	4.2.1	
              On
                the need-to basis, Party B shall rectify the financial activities
                of Party
                A and the affiliated companies of Party A, prepare Business Plan
                for the
                restructuring company, provide reasonable advices on the organization
                structure, actively prepare documents (both in English and Chinese)
                related to the Transaction, and facilitate the Transaction for Party
                A;

            

    

    

    
      	4.2.2	
              Party
                B shall complete the entrusted works in time and within the period
                of this
                Agreement; and

            

    

    

    
      	4.2.3	
              Party
                B has the right to sub-contract part of the services specified in
                this
                Agreement to other Chinese companies designated by Party
                B.

            

    

    

    
      	5.	
              CONSIDERATION
                AND TERMS OF PAYMENT

            

    

    

    
      	5.1	
              Financial
                Advisory Fee

            

    

    

    
      	5.1.1	
              Both
                Parties agree that the entrance fee payable by the Party A to Party
                B
                shall be US$ 50,000;

            

    

    

    Both
      Parties agree that Financial Advisory Fee payable by Party A to Party B upon
      the
      consummation of the Transaction shall consist of the following three parts
      (Consideration of the Transaction comprises of consideration in cash, common
      shares and contingent incentive shares):

    

    
      	5.1.2	
              Consideration
                in cash: shall be 5% of the total cash consideration of the
                Transaction;

            

    

    

    
      	5.1.3	
              Consideration
                in common shares: Common shares received by Party A from Target Company
                is
                no less than an aggregate of
                16,000,000.

            

    

    

    
      	
              (a)

            	
              If
                the sum of common shares received by Party A from Target Company
                is no
                less than an aggregate of 16,000,000 (including 16,000,000) and no
                more
                than an aggregate of 18,000,000 (including 18,000,000), Party B shall
                receive 2.222% of the total consideration in common
                shares;

            

    

    

    
      	
              (b)

            	
              If
                the sum of common shares received by Party A from the Target Company
                is
                above an aggregate of 18,000,000 and no more than an aggregate of
                18,500,000 (including 18,500,000), Party B shall receive the total
                shares
                exceeding 18,000,000 shares plus the shares as set force in 

              Section
                5.1.3(a);

            

    

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    
      	
              (c)

            	
              If
                the sum of common shares received by Party A from the Target Company
                is
                above an aggregate of 18,500,000, Party B shall receive 30% of the
                total
                shares exceeding 18,500,000 shares plus the shares as set force in
                Section
                5.1.3(b);

            

    

    

    
      	
              5.1.4

            	
              Consideration
                in contingent incentive shares: 

            

    

    

    
      	
              (d)

            	
              If
                Party A receives no more than an aggregate of 5,500,000 incentive
                warrants
                from the Target Company, Party A shall not pay any contingent incentive
                shares as service fee to Party B;

            

    

    

    
      	
              (e)

            	
              If
                Party A receives no more than an aggregate of 6,580,000 contingent
                incentive shares from the Target Company, Party B shall receive all
                contingent incentive shares exceeding an aggregate of
                5,500,000;

            

    

    

    
      	
              (f)

            	
              If
                Party A receives no less than an aggregate of 6,580,000 contingent
                incentive shares from the Target Company, Party B shall receive 20%
                of
                contingent incentive share exceeding an aggregate of 6,580,000 plus
                the
                contingent incentive shares as set force in Section
                5.1.4(e).

            

    

    

    
      	5.2	
              Payments

            

    

    

    
      	5.2.1	
              Payment
                time: On the signature date of this Agreement, Party A shall pay
                Party B
                or any party designated by Party B US$50,000 (equivalent to RMB 400,000),
                the remaining fees shall be paid to Party B or any party designated
                by
                Party B on the date Party A receives the consideration and contingent
                incentive shares.

            

    

    

    
      	5.2.2	
              Payment
                account: Party B shall designate RMB account or foreign currency
                account.
                Party B shall submit the written statement and be
                liable for any legal disputes in connection with the payment
                hereto.

            

    

    

    
      	5.2.3	
              The
                receiver of common shares and contingent incentive shares for commitment
                shall be the natural person or entity designated by Party
                B.

            

    

    

    
      	
              5.2.4

            	
              The
                shareholders or management of Party A shall fully pay the consideration
                to
                the Party B pursuant to the terms set force in this Agreement. Party
                A
                shall take the obligation of payment if its shareholders or management
                fail to execute this obligation.

            

    

    

    
      	5.2.5	
              The
                contingent incentive shares consideration should be compulsory, i.e.
                the
                arrangement must be clearly described in stock purchase agreement
                between
                Target Company and Party A and resolution of board of directors of
                Target
                Company. The management of Party A should not abandon such consideration.
                If The management of Party A abandon the arrangement in contingent
                incentive shares, Party A should pay to Party B compensation valued
                as 18%
                of abandoned contingent incentive share (number shares abandoned
                multiplied by market price per share as at date of the grant). If
                Party A
                does not receive contingent incentive shares because of fail to achieve
                operating results committed in stock purchase agreement with Target
                Company, without positive abandon, Party A and the management of
                Party A
                will not compensate to Party B. 

            

    

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    
      	5.3	
              Traveling
                expenses

            

    

    

    Party
      A
      shall pay traveling expenses occurred by Party B in connection with this
      Transaction and fulfillment of the Agreement. Party B shall get consent from
      Party A prior to incurrence of the expenses and apply for reimbursement of
      the
      actual expenditures to Party A after incurrence.

     

    
      	
              6.

            	
              CONFIDENTIALITY

            

    

    

    Each
      Party shall maintain the confidentiality of this Agreement and all
      documents acquired
      based on this Agreement. Each Party shall make efforts to urge any affiliate
      parties to maintain the confidentiality of this Agreement and documents hereof.
      Without the consent of the other Party hereto, neither Party hereto may release
      or disclose any information, document and data concerning this Agreement (save
      disclosure to their respective legal counsel or financial consultant for this
      M&A purpose or that required by Law). Subject to the approval from the other
      Party, related Confidential Information may be disclosed to the third party
      who
      enters into a confidential agreement and takes the obligation of
      confidentiality. All documentation, manuals and specific materials developed
      by
      Party B on behalf of Party A in connection with the services rendered under
      this
      Agreement shall owned by Party A. Documents (including this Agreement) provided
      pursuant to this Agreement shall only be disclosed to any third party with
      the
      Parties consent. Meanwhile, the disclosure shall specify purpose and
      confidentiality obligation under Article 6 herein. 

     

    
      	
              7.

            	
              FORCE
                MAJEURE 

            

    

    

    Should
      either Party be prevented from performing its obligations under this Agreement
      in whole by an event of force majeure, such as acts of God, adjustments in
      government policies or for any reasons without any Party’s fault, it shall not
      be liable to any responsibilities under this Agreement.

     

    
      	8.	
              DEFAULT
                

            

    

    

    Each
      Party shall abide by this Agreement strictly, and it shall constitute a default,
      if either Party is in breach of any provision of this Agreement. The defaulting
      Party shall be liable to compensate all the losses suffered by the
      non-defaulting Party as a result of such breach.

    

    
      	9.	
              DISPUTE
                RESOLUTION AND GOVERNING LAW

            

    

    

    
      	
              9.1

            	
              Any
                dispute arising out of this Agreement shall be resolved by both Parties
                through mutual negotiation. If both Parties could not reach an agreement,
                either Party may initiate legal action in the competent
                court.

            

    

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

    
      	
              9.2

            	
              This
                Agreement shall be signed, governed, construed, performed, and dispute
                resolved and judged by and in accordance with the laws of PRC. 

            

    

    

    
      	
              10.

            	
              EFFECTIVENESS

            

    

    

    This
      Agreement shall be effective on the date of endorsement by each Party or its
      authorized representative and hence be binding on each Party.

     

    
      	
              11.

            	
              AMENDMENT,
                TERMINATION, SUPPLIMENT

            

    

    

    
      	
              11.1

            	
              Any
                amendment to this Agreement shall be negotiated by all the Parties
                and
                shall only become effective upon a written amendment agreement being
                reached. Should Parties fail to reach an agreement, this Agreement
                shall
                remain effective. No modification or amendment or waiver to this
                Agreement
                will be effective unless being signed by each of the parties in
                writing.

            

    

    

    
      	
              11.2

            	
              Should
                either Party is in breach of this Agreement, the non-defaulting Party
                is
                entitled to terminate this Agreement.

            

    

    

    
      	
              11.3

            	
              Should
                both Parties agree to terminate this Agreement, a written agreement
                shall
                be reached. 

            

    

    

    
      	
              11.4

            	
              After
                effective date of this Agreement, each Party shall perform its
                responsibilities in accordance with this Agreement. A supplemental
                agreement regarding to matters not yet stipulated herein or need
                adjustment may be reached in consensus through negotiation by both
                Parties. The supplemental agreement or appendices to this Agreement
                shall
                form an integral part of this Agreement and shall have the same force
                as
                this Agreement itself.

            

    

    

    
      	
              12.

            	
              MISCELLANEOUS

            

    

     

    
      	12.1	
              Each
                Party to this Agreement shall provide all and any necessary documents
                and
                take all and any necessary actions to fulfill the purposes
                hereunder.

            

    

     

    
      	12.2	
              The
                convents of this Agreement include the warranty and commitment set
                force
                in this Agreement. If this Agreement can not be fulfilled completely
                in
                time, these convents will continue in full force and
                effect.

            

    

    

    
      	12.3	
              Both
                Parties shall have adequate knowledge and full understanding of the
                essence nature and legal meaning of all provisions of this
                Agreement.

            

    

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

     

    
      	12.4	
              The
                entire agreement, warranty and commitment constitute this Agreement,
                which
                replaces and supersedes all prior, written or oral communication,
                negotiation, warranty and
                agreements.

            

    

    

    
      	12.5	
              The
                titles and headings of all paragraphs are inserted for convenience
                only
                and shall not be utilized in construing any meaning
                hereunder.

            

    

    

    
      	12.6	
              This
                Agreement is executed in four copies and Party A and Party B each
                keeps
                two of them.

            

    

     

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

       

    

    IN
      WITNESS whereof this Agreement has been executed on the day and year first
      above
      written.

    

    

    SIGNED
      by 

    

    Party
      A

     

    for
      and
      on behalf of  

    Beijing
      HollySys Co, Ltd. 

    The
      legal
      representative or authorized representative 

    /s/
      Wang
      Changli

    Wang
      Changli

     

    for
      and
      on behalf of  

    Hangzhou
      HollySys Automation Co, Ltd. 

    The
      legal
      representative or authorized representative 

    /s/
      Wang
      Changli

    Wang
      Changli

     

    Signature
      Date: October 15, 2005

    

    SIGNED
      by

    

    Party
      B 

     

    for
      and
      on behalf of 

     

    Upper
      Mix Investment Limited 

    The
      legal
      representative or authorized representative 

    /s/
      Song
      Xuesong

    Song
      Xuesong

     

    for
      and
      on behalf of  

    Time
      keep Investment Limited 

    The
      legal
      representative or authorized representative 

    /s/
      Song
      Xuesong

    Song
      Xuesong

    

    Signature
      Date: October 15, 2005

     

    
      
        
        

      

      
        8

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