Document:

Settlement Agreement

    

      SETTLEMENT
        AGREEMENT AND RELEASE

    This
      Settlement Agreement and Release (“Agreement”) is entered into as of February
      12, 2007, by and between Roanoke Technology Corp., a Florida corporation (“the
“Company”) and David Smith (“Smith”).

    

    WHEREAS,
      the Company and Smith have mutually determined that Smith shall receive $50,000
      and shall be released from any further obligations to the Company in
      consideration for Smith releasing the Company from any and all obligations
      owed
      to Smith by the Company pursuant to his employment agreement or any other
      agreement with the Company as well as Smith returning all shares of the
      Company’s stock held in his name to the Company (“Shares”).

    

    WHEREAS,
      in order to settle all claims known or unknown between them, the parties have
      agreed to settle and compromise all claims between them on the terms set forth
      herein.

    

    NOW,
      THEREFORE, in
      consideration of the promises, covenants and releases set forth below, the
      parties do hereby promise, covenant and agree as follows:

    

    1.  The
      parties acknowledge that the consideration tendered and received herein, the
      promises, undertakings, representations and releases made or given, and the
      execution of this Agreement are in compromise and settlement of disputed claims.
      The parties are willing to perform their obligations hereunder for the purpose
      of resolving their differences. Nothing herein is intended, and nothing herein
      shall be construed, as an admission of fault or liability on the part of any
      party hereto.

    

    2.  The
      Company and Smith agree that, other than as set forth in this Agreement, there
      that there shall be no further obligations by either party to the other party.
      

    

    3.  The
      Company agrees to pay a total of $50,000.00 in settlement of all obligations
      or
      expenses due to Smith pursuant to his employment agreement with the Company
      or
      any other agreement with the Company. The initial $20,000 has previously been
      paid to Smith. The remaining $30,000 will be forwarded to the Anslow &
Jaclin Attorney Trust Account within thirty (30) days from the date hereof.
      Upon
      receipt of same, such funds shall be released to Smith if all of the shares
      set
      forth in Section 5 below have been delivered to Anslow & Jaclin.

    

    4.  Smith
      agrees to the cancellation of his employment agreement with the Company as
      well
      as to forgive all salary past due; any future salary due under his employment
      agreement except as specifically set forth herein; and any and all monies owed
      to Smith pursuant to promissory notes between the Company and Smith and his
      affiliated entities. In addition, Smith agrees to release the Company from
      any
      and all obligations owed by the Company to Smith not specifically set forth
      herein.

    

    5.  Upon
      execution of this Agreement, Smith agrees to transfer all of the Shares that
      Smith holds of the Company to Anslow & Jaclin, LLP with a medallion
      guaranteed stock power to be held in escrow. Specifically such amount of shares
      should include, but not be limited to, a total of 1,429,857,086 common shares
      and 100,000,000 shares of Class A Common Stock that the Company has confirmed
      that Smith currently owns. Smith represents that the shares he delivers will
      represent all of the Shares he owns of the Company. 

     

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
 

    6.  The
      Company, its officers, directors, shareholders, employees, trustees, agents,
      attorneys, representatives, heirs, beneficiaries, successors and assigns, and
      all other parties acting or purporting to act for or on behalf of the Company,
      jointly and severally, hereby agrees to defend, indemnify and hold harmless
      Smith and his heirs, joint venturers, partners, affiliates, parent corporations,
      subsidiaries, officers, directors, agents, employees, shareholders, legal
      counsel, predecessors, successors and assigns, from and against any and all
      liabilities, responsibilities, damages, claims, causes of action, judgments,
      costs and expenses, including without limitation attorneys’ fees and expert
      witness fees, in connection with any claim related to the Company after the
      date
      of this Agreement.

    

    7.  Except
      as
      to those duties and obligations set forth herein, the Company, its officers,
      directors, shareholders, employees, trustees, agents, attorneys,
      representatives, heirs, beneficiaries, successors and assigns, and all other
      parties acting or purporting to act for or on behalf of the Company, hereby
      unconditionally release and forever discharge Smith, and his heirs, joint
      venturers, partners, affiliates, parent corporations, subsidiaries, officers,
      directors, agents, employees, shareholders, legal counsel, predecessors,
      successors and assigns, of and from any and all manner of actions, causes,
      causes of action, claims, liabilities, suits, threats, contracts, controversies,
      torts, agreements, promises, damages, judgments, execution of claims, and
      demands whatsoever in law or in equity, known or unknown, suspected or
      unsuspected, which the Company, ever had, now has or may hereafter have against
      Smith, by reason of any matter, cause or thing, whatsoever, including, without
      limitation, any claims for unknown damages or injuries, or unknown consequences
      or complications of known damages or injuries.

    

    8.  Smith
      and
      all other parties acting or purporting to act for or on behalf of Smith jointly
      and severally, hereby agrees to defend, indemnify and hold harmless the Company,
      and its joint venturers, partners, affiliates, parent corporations,
      subsidiaries, officers, directors, agents, employees, shareholders, legal
      counsel, predecessors, successors and assigns, from and against any and all
      liabilities, responsibilities, damages, claims, causes of action, judgments,
      costs and expenses, including without limitation attorneys’ fees and expert
      witness fees, in connection with any claim related to any actions undertaken
      by
      the Settlement Parties after the date of this Agreement.

    

    Except
      as
      to those duties and obligations set forth herein, Smith and his officers,
      directors, shareholders, employees, trustees, agents, attorneys,
      representatives, heirs, beneficiaries, successors and assigns, and all other
      parties acting or purporting to act for or on behalf of Smith hereby
      unconditionally release and forever discharge the Company and its joint
      venturers, partners, affiliates, parent corporations, subsidiaries, officers,
      directors, agents, employees, shareholders, legal counsel, predecessors,
      successors and assigns, of and from any and all manner of actions, causes,
      causes of action, claims, liabilities, suits, threats, contracts, controversies,
      torts, agreements, promises, damages, judgments, execution of claims, and
      demands whatsoever in law or in equity, known or unknown, suspected or
      unsuspected, which Smith ever had, now has or may hereafter have against the
      Company, by reason of any matter, cause or thing, whatsoever, including, without
      limitation, any claims for unknown damages or injuries, or unknown consequences
      or complications of known damages or injuries. 

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    9.  The
      Company represents and warrants to Smith that the individual(s) signing this
      Agreement has been duly authorized to sign the Agreement on behalf of the
      Company, and the Company further represents and warrants that, upon execution,
      this Agreement shall be valid, legally binding and enforceable against the
      Company in accordance with its terms. 

    

    10.  Smith
      represents and warrants to the Company that the individual(s) signing this
      Agreement have been duly authorized to sign the Agreement on behalf of the
      respective entities, and Smith further represents and warrants that, upon
      execution, this Agreement shall be valid, legally binding and enforceable
      against Smith in accordance with its terms. 

    

    11.  This
      Agreement shall be construed and interpreted as a whole and in accordance with
      its fair meaning, and without regard to, or taking into account, any presumption
      or other rule of law requiring construction or interpretation against the party
      preparing this Agreement or any part hereof. 

    

    12.  The
      parties shall each bear their own expenses, legal costs and attorneys’ fees
      incurred in connection with the negotiation and execution of this
      Agreement.

    

    13.  This
      Agreement contains the entire agreement and understanding of the parties
      concerning the subject matter hereof. All prior and contemporaneous agreements,
      representations, negotiations, and understandings of the parties, oral or
      written, are merged herein and/or expressly declared void and are superseded
      by
      this Agreement. The parties warrant that no representations have been made
      to or
      relied upon by any party to induce the execution of this Agreement except as
      set
      forth herein.

    

    14.  This
      Agreement, its application and interpretation, and all rights and obligations
      of
      the parties hereunder shall be governed by and construed exclusively in
      accordance with the laws of the State of North Carolina, excluding any choice
      of
      law rules which would apply the laws of another jurisdiction.

    

    15.  Any
      disputes regarding this Agreement shall be exclusively resolved in the state
      or
      federal courts, as applicable, located in North Carolina. Each party consents
      to
      the exclusive jurisdiction of such courts and agrees not to bring any action
      under this Agreement except in North Carolina.

    

    16.  This
      Agreement may not be altered, modified or amended, except in writing signed
      by
      the party to be bound.

    

    17.  The
      parties shall make, execute and deliver all such documents and perform all
      such
      acts from time to time, prior to and following the consummation of this
      Agreement, to carry out the full intent and purpose of this
      Agreement.

    

    18.  The
      parties hereto each represent and warrant that they have read this Agreement,
      understand its terms, have authority to enter into this Agreement, and intend
      to
      be legally bound thereby. 

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    19.  The
      parties hereto each represent and warrant that they have been given an
      opportunity to consult with an attorney regarding this settlement and the terms
      of this Agreement.

    

    20.  This
      Agreement may be executed in multiple counterparts, each of which shall be
      an
      original, and all of which shall constitute one and the same
      agreement.

    

    21.  This
      Agreement shall be effective only when it has been fully executed and delivered
      by all of the parties hereto.

     

    IN
      WITNESS WHEREOF, the parties hereto have executed this Agreement on this 12th
      day of February, 2007.

    

    Roanoke
      Technology Corp. 

    

    By:      
      /s/
      Russell Jones 

    RUSSELL
      JONES

    President
      and CEO

    

    

    By:      
      /s/
      David Smith   

    DAVID
      SMITHEXHIBIT 10.1

 

EXHIBIT 10.1

 

(English Translation of an Agreement originally drafting in Mandarin Chinese)

 

BUSINESS JOINT VENTURE AGREEMENT made between 

 

	
            Party A:
 	
            Shanghai Zhong Ying Communication Engineering Company Limited
 

            (CHINESE OMITTED)

 

	
            Address:
 	
            30/F, 933 Zhongshanxi Road, Shanghai
 

Corporate Representatives:  Jiang Wen Qing
(CHINESE OMITTED)

Authorised Signatory:  Zhao Jun Ye
(CHINESE OMITTED)

Party B: Shanghai Quo Advertising Company Limited 

            (CHINESE OMITTED)

Address:  Room 318, Building no. 2, 555 Qingyun Road, Shanghai 

Corporate Representatives: Zhang Li Na
(CHINESE OMITTED)

Authorised Signatory: Hu Xiao
(CHINESE OMITTED)

	
            1.
 	
            Background for the Cooperation
 

 

Party A has assumed responsibility and obtained the relevant approvals of the Committee for Population and Birth Planning and the (CHINESE OMITTED) of the People’s Government of Huangpu District of the City of Shanghai for a project to build LED panels at outdoor locations. The plan is to build 200-odd LED panels in the year 2007, mainly for the broadcasting of relevant information of communal interest and commercial advertisements and to make available to members of the public both types of information. This will be accomplished through a mode of service combining network technology with more traditional forms of communication and with a view to promote the development of service industries in an urban environment through information technology.

 

In order to meet the propaganda requirements of the relevant governmental departments of the Huangpu District, to speed up the completion of the installation of the LED panels at outdoor locations and to enhance the commercial effectiveness of such operation, Party A and Party B have entered into serious negotiation based on the principles of “pooling of resources, mutual reinforcement utilizing the strength of each party, equality and mutual benefits and synergic development.”  Party A and Party B have reached agreement on the formation of a strategic partnership for the investment in, management and operation of the project for the installation of the outdoor LED panels mentioned above (“Project”), and shall strive to build together a platform for investment in and the financing, management and operation of the Project using modern corporate management models in the
professional operations and management of the Project, and also with a view to produce the utmost benefit to society whilst attaining the best return in such business venture.

 

	
            2.
 	
            The Basis of the Cooperation
 

 

	
             
 	
            1.
 	
            The joint venture hereunder shall last for a duration of 20 calendar years.
 

 

	
            
			 
 	
            
			2.
 	
            
			Party B shall be responsible for the design of the LED panels and
			for providing all the required 
 

 

1

 

 

	
             
 	
            
			 
 	
            
			capital in the installation and operation of the 200 LED panels envisaged hereunder and to ensure that the installation and operation of the relevant LED panels will be technologically and instrumentally safe and secure.
 

 

	
             
 	
            3.
 	
            Party B shall be responsible for the acquisition of the relevant equipment and undertake to complete the installation of each LED panel in the Project within one and half calendar months of the issue of the relevant papers by the government giving approval for such installation. If the relevant installation is not completed within the abovementioned period of time for any reason attributable to Party B, then the computation of the business return to Party A hereunder shall not be affected by such delay.
 

 

	
             
 	
            4.
 	
            Party A shall procure the issue by the relevant supervisory departments of the government of all the papers and approvals required for the installation and maintenance of the LED panels. Separate contracts shall be signed accordingly for the installation and maintenance of the LED panels. For the purpose of this Agreement, the relevant supervisory departments shall be the Town Planning Bureau of the Huangpu District of Shanghai, the City Façade Management Bureau of the same district and the Commerce and Industries Bureau of the same district.
 

 

	
             
 	
            5.
 	
            Part of the airtime of the LED panels will be used to broadcast information of communal interest. The remainder of the airtime will be used for commercial advertisement.
 

 

	
             
 	
            6.
 	
            As the investor of the Project Party B shall have the exclusive right to manage and operate the same in respect of all the 200 LED panels for the duration of 20 years.
 

 

	
             
 	
            7.
 	
            As the investor of the Project Party B shall have the ownership of the all property and proprietary interests of the 200 LED panels panels for the duration of 20 years.
 

 

	
             
 	
            8.
 	
            The choice of the locations for the LED panels must be agreed by both parties after consultation with each other.
 

 

	
            3.
 	
            Form of the Cooperation
 

 

	
             
 	
            (1)
 	
            Party A agrees that 1 LED panel will be installed at a location to be confirmed by both parties once the investment from Party B under this Agreement is made available according to the terms hereof.
 

 

	
             
 	
            (2)
 	
            Party B shall have the exclusive right to manage and operate the Project in respect of all the 200 LED panels.
 

 

	
             
 	
            (3)
 	
            Party B may set up a new company in Shanghai to take up the management and operation in the Project. Once the new company has been set up Party B shall transfer all its management rights hereunder into the new company.
 

 

	
            4.
 	
            Distribution of Profits and Payment of Expenses
 

 

	
             
 	
            (1)
 	
            Detailed arrangements concerning the payment of expenses in relation to the LED panels in the Project are set out in the “Agreement on Payment of Charges for the obtaining of Approval for Construction” which has been signed by the parties hereto. 
 

 

 

2

 

 

	
             
 	
            (2)
 	
            Party B undertakes to Party A to provide the sum of RMB1,000,000.00 as a security deposit for its participation in this Project of LED panels.
 

 

	
            
			 
 	
            
			(3)
 	
            
			Party B undertakes to Party A that, in addition to the various other
			expenses to be borne by Party B, Party A will be provided with a
			business return from the Project calculated at RMB20,000.00 for each
			of the LED panels being completed from the Project within the period
			of one calendar year after the completion of the Project
			installation and that in the second and third years after the
			completion of the Project installation such business return will be
			RMB4,000,000.00 per year respectively and that from the fourth year
			after the completion of the Project onward such business return will
			be increased by 10% every three calendar years. For the computation
			under this clause the first year after the completion of the Project
			installation shall be presumed to start to run on the fulfillment of
			two conditions, namely, when the installation of the first LED panel
			has been completed and upon the issue of governmental papers for the
			approval of installation of at least 90% of the LED panels in the
			Project.
 

 

	
            
			 
 	
            
			(4)
 	
            
			Party B undertakes to pay the Public Works Office of the Huangpu
			District in Shanghai a sum as required under applicable regulations
			or government directive on annual basis once this Agreement has
			started to take effect and to continue to do so annually during the
			subsistence of this Agreement. The detailed arrangements for such
			payment will be worked out with regard to the progress of work and
			by separate agreement with the Public Works Office of the Huangpu
			District.
 

 

	
            
			5.
 	
            
			Other Terms
 

 

	
            
			 
 	
            
			(1)
 	
            
			Both parties hereto regard the other party as the only joint venture
			partner in this Project for the buildup and management of the LED
			panels under the Project and will not be allowed to enter into any
			other form of business association with any third party in relation
			to the same matter.
 

 

	
            
			 
 	
            
			(2)
 	
            
			Neither party may disclose the contents of this Agreement nor the
			matters hereby concerned to a third party without the mutual consent
			of both parties hereto. If any party should act in violation of this
			covenant, such party in breach of the covenant shall be fully liable
			legally and financially for all consequences thereby occasioned.
 

 

	
            
			 
 	
            
			(3)
 	
            
			This Agreement shall take effect from the date on which both Party A
			and Party B have signed the same.
 

	
            
			 
 	
            
			(4)
 	
            
			This Agreement is signed in four identical counterparts, each of
			Party A and Party B shall retain two of the counterparts and all
			counterparts shall have the same legal effect.
 

 

	
            
			 
 	
            
			(5)
 	
            
			All matters that have not been adequately provided for in the terms
			of this Agreement may be resolved by friendly negotiation between
			the parties hereto and upon the parties reaching consensus on such
			matter, may be put into a legal document as a supplement to these
			presents. Supplementary agreements like that shall have legal
			effects equal to this Agreement.
 

 

 

3

 

 

 

	
            
			Party A:
 	
            
			 
 	
            
			Party B:
 
	
            
			Shanghai Zhong Ying Communication Engineering Company Limited
 	
            
			 
 	
            
			Shanghai Quo Advertising Company Limited
 
	
            
			 
 	
            
			 
 	
            
			 
 
	
            
			Rank and office of its signatory:
 	
            
			 
 	
            
			Rank and office of its signatory:
 
	
            
			General Manager
 	
            
			 
 	
            
			Deputy CEO & Executive Director of NCN Media Services Limited
 
	
            
			 
 	
            
			 
 	
            
			 
 
	
            
			/s/ Zhao Jun Ye
 	
            
			 
 	
            
			/s/ Hu Xiao
 
	
            
			Name of signatory:
 	
            
			 
 	
            
			Name of signatory:
 
	
            
			Zhao Jun Ye
 	
            
			 
 	
            
			Hu Xiao
 
	
            
			 
 	
            
			 
 	
            
			 
 
	
            
			 
 	
            
			 
 	
            
			 
 
	
            
			Date of signing: 
 	
            
			 
 	
            
			Date of signing: 
 
	
            
			7th February, 2007
 	
            
			 
 	
            
			7th February, 2007
 
	
            
			 
 	
            
			 
 	
            
			 
 

 

 

 

4

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