Document:

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                                                                   EXHIBIT 10.26

                        DATED THIS 1ST DAY OF APRIL, 2003

                                     Between

                                GEOK HONG SDN BHD

                                  ("Landlord")

                                       And

                           MATTLINE INDUSTRIES SDN BHD
                                   ("Tenant")

     ----------------------------------------------------------------------

                                TENANCY AGREEMENT

     ----------------------------------------------------------------------

                                 WONG & PARTNERS
                             ADVOCATES & SOLICITORS
                                Level 41, Suite A
                                Menara Maxis KLCC
                               50088 Kuala Lumpur
                           Telephone: (603) 2055 1888
                           Facsimile: (603) 2161 2919

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                                                                   EXHIBIT 10.26

                                TABLE OF CONTENTS

<TABLE>
<CAPTION>
CLAUSE                                                                                        PAGE
<S>                                                                                           <C>
1.       DEFINITIONS AND INTERPRETATION.........................................                1

         1.1.     Definitions...................................................                1

2.       AGREEMENT FOR TENANCY..................................................                3

         2.1.     Grant of Tenancy..............................................                3
         2.2.     Term of Tenancy...............................................                4
         2.3.     Rent Reserved.................................................                4

3.       TENANT'S COVENANTS.....................................................                4

         3.1.     Tenant's Covenants............................................                4

4.       LANDLORDS' COVENANTS...................................................                8

         4.1.     Landlord's Covenants..........................................                8

5.       BREACH AND TERMINATION.................................................                9

         5.1.     Forfeiture on Breach..........................................                9

6.       FIRES, ACCIDENTS AND OTHER SPECIFIED EVENTS............................               10

         6.1.     Suspension of Rent............................................               10
         6.2.     Damage by Fire etc............................................               10
         6.3.     Accidents on Premises.........................................               11

7.       OPTION FOR RENEWAL.....................................................               11

         7.1.     First Renewal Option..........................................               11
         7.2.     Second Renewal Option.........................................               11
         7.3.     Revised Rent..................................................               12

8.       REPRESENTATIONS AND WARRANTIES.........................................               12

9.       MISCELLANEOUS..........................................................               12

         9.1.     Notices.......................................................               12
         9.2.     Time of Essence...............................................               14
         9.3.     Amendments and Severability...................................               14
         9.4.     Exclusion.....................................................               14
</TABLE>

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<TABLE>
         <S>                                                                                   <C>
         9.5.     Waiver........................................................               14
         9.6.     Binding Effect................................................               14
         9.7.     Assignment....................................................               14
         9.8.     Governing Law and Jurisdiction................................               14
         9.9.     Expenses and Costs............................................               15
         9.10.    Interpretation of Headings....................................               15
</TABLE>

                                       ii

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                                                                   EXHIBIT 10.26

                                TENANCY AGREEMENT

THIS TENANCY AGREEMENT is made the day and year stated in Item 1 of the First
Schedule hereto between the parties whose names and descriptions are stated in
Item 2 of the said Schedule ("THE LANDLORD") of the one part AND the party whose
name and description are stated in Item 3 of the said Schedule ("THE TENANT") of
the other part.

RECITALS

(A)      Geok Hong Sdn Bhd is the legal and beneficial owner of land held under
         HSD 31775, PT 3222 at Mukim 1, Seberang Perai Tengah, Pulau Pinang upon
         which is erected a factory building known as "P3" (the "DEMISED
         PREMISES"), as delineated in red on the site plan annexed hereto as
         ANNEXURE 1.

(B)      The Landlord is desirous of granting and the Tenant of accepting a
         tenancy of the Demised Premises, subject to the terms and conditions
         hereinafter contained.

NOW THIS AGREEMENT WITNESSETH AND IT IS AGREED  as follows:

1.       DEFINITIONS AND INTERPRETATION

1.1.     Definitions

Wherever used in this Agreement (unless the context shall otherwise require) the
following expressions shall have the following meanings:

"APPROPRIATE AUTHORITY"                Any governmental or quasi-government
                                       authority or agency authorized under any
                                       written law in force in Malaysia to
                                       supply electricity, water, telephone and
                                       other amenities.

"BUSINESS"                             The business of the Tenant being
                                       electronic manufacturing services.

"COMMENCEMENT DATE"                    The date on which the Term shall commence
                                       which date is stated in Item 5(b) of the
                                       FIRST SCHEDULE hereto annexed.

"COMPLETION DATE"                      means the date of completion of the Joint
                                       Venture Agreement;

"DEMISED PREMISES"                     The premises to be let by the Landlord to
                                       the Tenant, particulars whereof are set
                                       out in Item 4 of the FIRST SCHEDULE
                                       hereto annexed and which expression shall
                                       include all or any part thereof.

                                       1

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"EXPIRY DATE"                          The date on which the Term is deemed to
                                       be terminated by effluxion of time
                                       (unless sooner determined or otherwise
                                       extended under the provisions hereof),
                                       which date is stated in Item 5(c) of the
                                       FIRST SCHEDULE hereto annexed.

"FIRST RENEWAL TERM"                   The term of years to be granted on a
                                       renewal of the tenancy of the Demised
                                       Premises in accordance with Clause 7.1,
                                       which renewal term is stated in Item 9 of
                                       the FIRST SCHEDULE hereto annexed.

"FIRST RENEWAL TERM
EXPIRY DATE"                           The date on which the First Renewal Term
                                       is deemed to be terminated by effluxion
                                       of time (unless sooner determined or
                                       otherwise extended under the provisions
                                       hereof), which date is stated in Item
                                       5(d) of the FIRST SCHEDULE hereto
                                       annexed.

"JOINT VENTURE
AGREEMENT"                             means the joint venture agreement between
                                       TFS International, Ltd., TFS
                                       International II, Ltd., Unico Systems Sdn
                                       Bhd, Unico Holdings Berhad and the Tenant
                                       dated April 1, 2003;

"LANDLORD"  The party whose name and description are stated in Item 2 of the
FIRST SCHEDULE hereto annexed, which expression shall include its
successors-in-title and assigns.

"LANDLORD'S
FITTINGS"                              The Landlord's fixtures and fittings to
                                       be included in the tenancy hereby granted
                                       including without limitation the items
                                       which particulars whereof are described
                                       in the Second Schedule hereto annexed and
                                       which expression shall include all or any
                                       part thereof or any replacement or
                                       substitution thereof.

"MONTH"                                A period calculated from any specific day
                                       up to and including the day numerically
                                       corresponding to that specific day in the
                                       relevant subsequent month or if there
                                       shall be no such day or such subsequent
                                       month, then the period shall expire on
                                       the last day of that month.

"RENT"                                 The amount payable by the Tenant to the
                                       Landlord monthly in advance as rent
                                       during the Term hereby granted, which
                                       amount is stated in Item 6 of the FIRST
                                       SCHEDULE hereto annexed and which
                                       expression shall include the Revised
                                       Rent.

"RENT DEPOSIT"                         The amount payable forthwith by the
                                       Tenant to the Landlord as deposit to
                                       secure the due observance and performance
                                       of the covenants on the part of the
                                       Tenant herein contained, which amount is
                                       stated in Item 7 of the FIRST SCHEDULE
                                       hereto annexed.

                                       2

<PAGE>

"REVISED RENT"                         means the Rent for the tenancy of the
                                       Demised Premises during the Second
                                       Renewal Term, determined in accordance
                                       with Clause 7.3.

"SECOND RENEWAL
TERM"                                  The term of years to be granted on a
                                       second renewal of the tenancy of the
                                       Demised Premises in accordance with
                                       Clause 7.2, which term is stated in Item
                                       10 of the FIRST SCHEDULE hereto annexed.

"UTILITIES CHARGES"                    means all charges and outgoings in
                                       respect of electricity, water, gas (if
                                       any), telephone and other utilities
                                       consumed and used by the Tenant in the
                                       Demised Premises.

"UTILITIES DEPOSIT"                    means the deposit for the payment by the
                                       Tenant of the Utilities Charges, which
                                       amount is stated in Item 8 of the FIRST
                                       SCHEDULE hereto annexed.

"TENANT"                               The party whose name and description is
                                       stated in Item 3 of the FIRST SCHEDULE
                                       hereto annexed, which expression shall
                                       include its successors-in-title and
                                       permitted assigns, as the case may be.

"TERM"                                 The term of years hereby granted for the
                                       tenancy of the Demised Premises, which
                                       term is stated in Item 5(a) of the FIRST
                                       SCHEDULE hereto annexed.

"YEAR"                                 A period of three hundred and sixty five
                                       (365) days.

Words importing masculine gender shall include the feminine and neuter genders.
Words importing the singular shall include the plural number and vice versa.
References to any statute or legislation include any statutory amendment or
re-enactment thereof. All references to Clauses and Schedules are unless
otherwise provided, references to Clauses of and Schedules to this Agreement.
The headings of this Agreement are inserted for convenience only and shall not
define or limit the provisions hereof. Where there are two or more persons
included in the expressions "the Landlord" and /or " the Tenant" all covenants
agreements and stipulations expressed to be made by the Landlord shall be deemed
to be made by such persons jointly and severally.

2.       AGREEMENT FOR TENANCY

2.1.     Grant of Tenancy

         In consideration of the Rent and the Tenant's covenants hereinafter
         reserved and contained, the Landlord let and the Tenant takes the
         Demised Premises.

                                       3

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2.2.     Term of Tenancy

         The tenancy herein granted shall be for a Term commencing from the
         Commencement Date and expiring on the Expiry Date, subject to the
         provisions for sooner determination hereinafter contained.

2.3.     Rent Reserved

         (a)      The Rent hereby reserved in the amount stated in Item 6 of the
                  FIRST SCHEDULE hereto annexed shall be paid without any
                  deduction whatsoever monthly in advance on or before the 7th
                  day of the month, save that the first payment of Rent shall be
                  made on the Commencement Date, pro-rated to the amount of days
                  remaining in that month.

         (b)      In respect of the final month of the tenancy of the Demised
                  Premises, the payment of Rent shall be made no later than the
                  7th day of that month, pro-rated to the amount of days
                  remaining in that month.

3.       TENANT'S COVENANTS

3.1.     Tenant's Covenants

         The Tenant hereby covenants with the Landlord as follows:

         (a)      To Pay Rent

                  To pay the Rent reserved punctually on the days and in the
manner aforesaid.

         (b)      To Pay Rent Deposit and Utilities Deposit

                  Upon the execution of this Agreement to deposit with the
                  Landlord the Rent Deposit and Utilities Deposit stipulated in
                  Items 7 and 8 respectively of the FIRST SCHEDULE and such
                  deposit less any monies found to be due and owing by the
                  Tenant under the provisions herein, shall be refunded free of
                  interest to the Tenant within fourteen (14) days after the
                  expiration or determination of the tenancy, failing which the
                  Landlord shall further pay to the Tenant an agreed interest
                  calculated at the then prevailing Base Lending Rate of Malayan
                  Banking Berhad on the Rent Deposit and Utilities Deposit from
                  the expiry of the fourteen (14) day period up to the date of
                  the actual payment thereof. The Rent Deposit and Utilities
                  Deposit shall not be taken to be or treated as payment of Rent
                  in ascertaining whether Rent has been in arrears.

         (c)      Restriction on Assignment, Sublet, etc

                  Not to assign, sublet, part with, share possession or grant
                  any licenses for use of the Demised Premises or any part
                  thereof without prior written consent of the Landlord.

                                       4

<PAGE>

         (d)      To Keep in Repair

                  To keep the interior of the Demised Premises, the flooring and
                  interior plaster or other surface material or rendering on
                  walls and ceilings including sanitary apparatus, pipes, doors,
                  windows, glass, shutters, locks, fastenings, electric wire,
                  installations for light and power and other fixtures or
                  additions thereto and the Landlord's Fittings (if any) thereon
                  in good and tenantable repair and clean condition (fair, wear
                  and tear and damage by fire, storm, tempest, riot and other
                  causes beyond the Tenant's control excepted) and to replace or
                  to repair any part of the Demised Premises and the Landlord's
                  Fittings therein which shall be broken or damaged due to
                  malicious negligence or careless acts or omissions of the
                  Tenant.

         (e)      To Inform Landlord of Damage

                  To immediately inform the Landlord of any damage caused to the
                  Demised Premises or to any electrical, mechanical or
                  air-conditioning fittings and other fittings within P3.

         (f)      To Permit Landlord to Enter View and Execute Repairs

                  To permit the Landlord its agents or workmen to enter upon the
                  Demised Premises at all reasonable hours and provided
                  reasonable advance written notice has been served on the
                  Tenant, to view the condition thereof and to issue notice in
                  writing addressed to the Tenant of all defects and damage then
                  found and the Tenant shall make good the same according to
                  such notice where reasonable and if the Tenant shall fail so
                  to do, the Tenant shall permit the Landlord to enter upon the
                  Demised Premises for the purpose of carrying out such repairs
                  at reasonable costs and the costs thereof shall on demand be
                  forthwith repaid by the Tenant to the Landlord.

         (g)      Not to Break Walls or Make Alterations

                  Not to break open or damage any part of the structural walls
                  of the Demised Premises or otherwise make any additions or
                  alterations in the structure or layout thereof without prior
                  consent in writing of the Landlord PROVIDED that subject to
                  such consent aforesaid the Tenant in breaking open the
                  structural walls for any electrical installation or office
                  partitions shall do so at its own costs and in a good and
                  workmanlike manner AND all such electrical installations or
                  office partitions affixed or fastened to the Demised Premises
                  or any part thereof shall belong to the Landlord and shall not
                  be removed, unless expressly excluded by prior written consent
                  of the Landlord. Where such written exclusion is sought and
                  obtained, the Tenant hereby covenants to make good to the
                  satisfaction of the Landlord any damage done to the Demised
                  Premises or any part thereof by the installation use and
                  removal of any of such fittings belonging to the Tenant.

                                       5

<PAGE>

         (h)      Structural Changes

                  Not to carry out any structural changes or substantial
                  renovations or alterations to the Demised Premises without the
                  Landlord's written consent to such changes. In the event such
                  changes have been consented to by the Landlord, the Landlord
                  reserves the right to demand the removal of such changes or
                  renovations at the end of the Tenancy and the cost and expense
                  of removing the same shall be borne and paid by the Tenant.

         (i)      Excessive Load

                  The Tenant shall not place or permit to be placed upon the
                  floor of the Demised Premises a load in excess of the weight
                  stated in Item 11 of the First Schedule and shall when
                  required by the Landlord distribute any load on the floor of
                  the Demised Premises in accordance with the directions and
                  requirements of the Landlord. In the interpretation and
                  application of this Clause 3.01(i), the decision of the
                  Landlord's consultants, engineers, surveyors or architects
                  shall be final and binding upon the Tenant.

         (j)      Not to Use for Illegal or Immoral Purposes

                  Not to use or permit or suffer the Demised Premises or any
                  part thereof to be used for any illegal or immoral purposes.

         (k)      Specified Use Only

                  To use and occupy the Demised Premises to carry on the
                  Business of the Tenant only and not for any other purpose.

         (l)      To Comply with Notices

                  Upon the receipt of any notice, order, direction or other
                  thing from a competent authority affecting or likely to affect
                  the Demised Premises whether the same shall be served directly
                  on the Tenant or the original copy thereof be received from
                  any other lessee or other person whatsoever the Tenant will so
                  far as such notice, order, direction or other thing or the
                  ordinance regulations or other instrument under and by virtue
                  or which it is issued or the provisions hereof require of the
                  Tenant to do so comply therewith at its own expenses and will
                  forthwith deliver to the Landlord a copy of such notice order
                  or other thing.

         (m)      Inflammable Substance on Premises

                  Not to store or bring upon the Demised Premises arms,
                  ammunition or unlawful goods, gunpowder, petrol, kerosene or
                  any explosive or combustible substance in any part of the
                  Demised Premises (save as required for the Business) and not
                  to do or permit or suffer to be done anything whereby the
                  policy or policies of insurance on the Demised Premises
                  against loss or damage by fire for the time being subsisting
                  may become void or voidable or whereby the rate of premium

                                       6

<PAGE>

                  thereon may be increased and to make good all damages suffered
                  by the Landlord and to repay to the Landlord all sums paid by
                  the Landlord by way of increased premiums and all expenses
                  incurred by the Landlord in or about any renewal of such
                  policy or policies rendered necessary by a breach or
                  non-observance of this covenant.

         (n)      Advertisement

                  Any placard, poster, notice, advertisement, name, or sign
                  erected, attached or exhibited by the Tenant shall at the
                  expiry or termination of the tenancy be dismantled by the
                  Tenant at its own expense. Any placard, poster, notice,
                  advertisement, name or sign erected, allocated or exhibited by
                  the Tenant which is not in conformity with this present
                  covenant shall forthwith be dismantled at the cost of the
                  Tenant unless otherwise agreed to by the Landlord in its
                  absolute discretion.

         (o)      Not to Permit Nuisances, etc.

                  Not to do or suffer the Demised Premises or any part thereof
                  any act, matter or thing, whatsoever which may be or tend to
                  the nuisance, annoyance, damage or disturbance of the Landlord
                  or the owners, tenants, lessees or occupiers of any adjoining
                  or neighbouring property.

         (p)      Laws and Regulations

                  Not to do or permit to be done on the Demised Premises
                  anything which will or may infringe any of the laws, by-laws
                  or regulations made by the government, the local town board or
                  any competent authority affecting the Demised Premises.

                  To obtain and maintain at its own expense all licenses,
                  permits, registrations (including trade name) and other
                  consents necessary for the conduct of the Business;

         (q)      To Keep Clean the Premises etc.

                  At all times to keep clean the Demised Premises and not to
                  cause or permit any obstruction to the entrance, exit,
                  passageways, stairways, pavements, drains, pipes, toilets,
                  drainage or sewerage systems and other areas, the use of which
                  is common to the Demised Premises and to other premises.

         (r)      To Repaint Interior and Exterior Walls

                  To repaint the interior and exterior walls of P3 with a single
                  coat of paint of the original colour no less than two (2)
                  months prior to the expiration of this tenancy.

                                       7

<PAGE>

         (s)      To Yield Up

                  At the expiration or determination of this tenancy peaceably
                  to surrender and yield up to the Landlord the Demised Premises
                  in good tenantable repair and condition and in proper working
                  order (fair, wear and tear and damage by fire, storm, tempest,
                  riot and other causes beyond the Tenant's control excepted)
                  AND IT IS AGREED that the foregoing covenant shall apply and
                  attach to all fixtures or fittings affixed or fastened to the
                  Demised Premises or any part thereof by the Tenant AND that
                  the Tenant may from time to time substitute the Landlord's
                  Fittings of at least as good a kind or quality as and not less
                  suitable in character nor of less value than those for which
                  they are respectively to be substituted and in any such case
                  this present covenant shall attach and apply to the things so
                  substituted.

4.       LANDLORDS' COVENANTS

4.1.     Landlord's Covenants

         The Landlord hereby covenants with the Tenant as follows :

         (a)      That in consideration of the Tenant duly paying the rent
                  hereby reserved and observing and performing the several
                  covenants and stipulations herein the Tenant shall peaceably
                  hold and enjoy the Demised Premises during the said Term
                  without any disturbances by the Landlord or any person
                  lawfully claiming under or in trust for the Landlord;

         (b)      At all times throughout the Term hereby created to keep the
                  Demised Premises insured (excluding the Tenant's fixtures,
                  fitting, furniture and stocks) against loss or damage by fire
                  and to pay all premiums incurred;

         (c)      To pay all present and future quit rent, assessment, property
                  tax or other rates and impositions of like nature by
                  whatsoever name levied in respect of the Demised Premises;

         (d)      To keep the main structure the main drains and the main pipes
                  and the external wall of the Demised Premises in good and
                  tenantable repair and conditions unless it is damaged by
                  malicious negligence or careless acts or omissions of the
                  Tenant its servants employees agents invitees or licensees;

         (e)      To refund the Rent Deposit and Utilities Deposit to the Tenant
                  within fourteen (14) days after the Tenant shall have:

                  (i)      yielded up vacant possession of the Demised Premises
                           to the Landlord in good and substantial repair and
                           condition and in accordance with the covenants herein
                           contained; and

                                       8

<PAGE>

                  (ii)     provided evidence satisfactory to the Landlord that
                           it has settled all arrears of Rent and Utilities
                           Charges.

                           PROVIDED in default of the aforesaid the Landlord
                           shall be at liberty to deduct therefrom such sum or
                           sums as may be required to cover all arrears of Rent
                           and the cost of carrying out any repair that should
                           have been undertaken by the Tenant;

         (f)      Notwithstanding anything in this Agreement, the Landlord shall
                  ensure that the Tenant is permitted to carry out renovations
                  and alterations, (structural or otherwise), and create
                  partitions in (whether permanent or temporary) to the Demised
                  Premises or any part thereof in accordance with the business
                  requirements of the Tenant.

5.       BREACH AND TERMINATION

5.1.              Forfeiture on Breach

         If:

         (1)      the Rent hereby reserved or any part thereof shall at any time
                  be unpaid for fourteen (14) days after becoming payable
                  (whether formally demanded or not);

         (2)      any of the covenants on the part of the Tenant herein
                  contained shall not be performed or observed;

         (3)      the Tenant shall enter into any composition for the benefit of
                  its creditors or shall suffer any distress or execution to be
                  levied on the its goods or have a receiving order made against
                  it or shall become bankrupt;

         then and in any of the said cases it shall be lawful for the Landlord
         to issue to the Tenant a notice in writing:

         (a)      specifying the particular breach complained of; and

         (b)      if the breach is capable of remedy, requiring the Tenant to
                  remedy it,

         and in the event that the Tenant shall fail within fourteen (14) days
         after the service of such notice on the Tenant including the day of
         such service, to remedy the breach (if it is capable of remedy) to the
         satisfaction of the Landlord, it shall be lawful for the Landlord at
         any time thereafter to forfeit this tenancy and to re-enter onto the
         Demised Premises or any part thereof in the name of the whole and
         thereupon this tenancy shall absolutely determine but without prejudice
         to the right of action of the Landlord in respect of any antecedent
         breach by the Tenant of the covenants herein contained.

                                       9

<PAGE>

6.       FIRES, ACCIDENTS AND OTHER SPECIFIED EVENTS

6.1.     Suspension of Rent

         If the Demised Premises or any part thereof shall be destroyed or
         damaged by fire (except where the fault or negligence of the Tenant has
         caused the fire) lightning, flood, storm, explosion or in any way
         rendered unfit for use or occupation for a period greater than one (1)
         month, then the rent hereby covenanted to be paid or a fair proportion
         thereof according to the nature and extent of the damage sustained
         shall be suspended until the Demised Premises shall again be rendered
         fit for habitation and use. The period in which the rent has been
         suspended shall be extended into the Term of tenancy granted herein
         PROVIDED THAT in such event the Tenant may determine the tenancy by
         giving one (1) month's notice in writing and be entitled to the return
         of the Rent Deposit and Utilities Deposit within fourteen (14) days
         from the date of such termination but without prejudice to the rights
         and remedies of either party against the other in respect of any
         antecedent claim or breach of covenant AND PROVIDED FURTHER THAT
         nothing in this clause shall render it obligatory on the Landlord to
         restore, reinstate or rebuild the Demised Premises or any part thereof,
         if the Landlord in its absolute discretion does not desire to do so in
         which event the Landlord shall be entitled to terminate this tenancy by
         one (1) month's notice in writing to the Tenant and upon such
         termination neither party shall have any claims against the other save
         and except in respect of any antecedent claim or breach of covenant.

6.2.     Damage by Fire etc.

(a)      If the Demised Premises or any part thereof shall be destroyed or
         damaged by fire (except where such fire has been caused by the fault or
         negligence of the Tenant) earthquakes, riot, civil commotion or Act of
         God or other inevitable cause without default of the Tenant so as to
         render the Demised Premises, in the opinion of the relevant authorities
         to be unfit for occupation and use by the Tenant then in such an event,
         the Tenant shall have the right to determine the Tenancy by giving a
         notice in writing to the Landlord within fourteen (14) days upon
         receipt of the written confirmation by the relevant authorities
         whereupon the Landlord shall refund the Rent Deposit and Utilities
         Deposit to the Tenant within thirty (30) days of receipt of the
         Tenant's notice of termination.

(b)      In the event that the Tenant fails to exercise the right as provided
         for under Clause 6.02(a) within fourteen (14) days upon receipt of the
         said written confirmation by the relevant authorities then the rent
         hereby covenant to be paid or a fair proportion hereof according to the
         nature and extent of the damage sustained shall be suspended from the
         date of such destruction or damage (hereinafter referred to as the
         "DESTRUCTION DATE") until the Demised Premises shall again be rendered
         fit for occupation and use by the Tenant within two (2) months from the
         Destruction Date.

                                       10

<PAGE>

6.3.     Accidents on Premises

         The Landlord shall not be responsible to the Tenant or the Tenant's
         licensees, servants, agents or other persons in the Demised Premises or
         calling upon the Tenant for any accident happening or injury suffered
         or damage to or loss of any chattel or property sustained on the
         Demised Premises or in the building of which the Demised Premises form
         part SAVE WHERE the accident occurred due to the fault or negligence of
         the Landlord, in which event the Landlord shall make reasonable
         compensation to the persons suffering such loss, injury or damage.

7.       OPTION FOR RENEWAL

7.1.     First Renewal Option

         If either the Landlord or the Tenant intends for the tenancy of the
         Demised Premises to be extended for the further term stated in Item 9
         of the FIRST SCHEDULE hereto ("FIRST RENEWAL TERM"), the Landlord or
         the Tenant may give written notice to the other party not later than 3
         months before the Expiry Date, and the Landlord shall grant, and the
         Tenant shall take, at the cost of the Tenant a new tenancy of the
         Demised Premises for the First Renewal Term beginning from the Expiry
         Date upon covenants and stipulations identical to those as are herein
         contained with the exception of this covenant for renewal and other
         provisions contained in clause 7.02 and 7.03, provided always that
         where the Tenant seeks to extend the tenancy of the Demised Premises,
         it shall be incumbent on the part of the Tenant to have fulfilled and
         /or performed the following conditions precedent:

         (a)      the Tenant shall have paid the Rent hereby reserved,

         (b)      the Tenant shall have performed and observed all the covenants
                  and obligations on the Tenant's part contained until the
                  Expiry Date.

7.2.     Second Renewal Option

         If, during the First Renewal Term, the Tenant shall be desirous of
         tenanting the Demised Premises for a further term or terms of years as
         stated in Item 10 of the FIRST SCHEDULE hereto ("SECOND RENEWAL TERM"),
         the Tenant shall give written notice of such desire to be served upon
         the Landlord no later than 3 months before the First Renewal Term
         Expiry Date and subject to the fulfillment of the following conditions
         precedent:

         (a)      that the Tenant shall have paid the Rent hereby reserved,

         (b)      that the Tenant shall perform and observe all the covenants
                  and obligations on the Tenant's part contained until the First
                  Renewal Term Expiry Date,

         then the Landlord will grant to the Tenant at the cost of the Tenant a
         new tenancy of the Demised Premises for the Second Renewal Term
         beginning from the First Renewal Term Expiry Date upon covenants and
         stipulations identical to those as are herein

                                       11

<PAGE>

         contained with the exception of this covenant for renewal and other
         provisions contained in clauses 7.01 and 7.03.

7.3.     Revised Rent

         (a)      Upon receipt of the Tenant's written notice stating its
                  intention to tenant the Demised Premises for the Second
                  Renewal Term, the Landlord shall inform the Tenant of the
                  Revised Rent, which is to be based on the then prevailing
                  market rental rates for property similar in nature, use and
                  location to the Demised Premises.

         (b)      Upon receipt of written notice of the Revised Rent, the Tenant
                  shall be entitled to negotiate the Revised Rent with the
                  Landlord for a period of one month (or such longer period as
                  the Tenant and Landlord may mutually agree). If at the end of
                  such period, the Landlord and the Tenant are unable to agree
                  on the Revised Rent, the Tenant shall be entitled to withdraw
                  its notice to take up the Second Renewal Term and shall be
                  under no obligation to tenant the Demised Premises for the
                  Second Renewal Term.

8.       REPRESENTATIONS AND WARRANTIES

8.1.     Each of the parties hereby represents and warrants to the other that:

         (a)      it has full power and authority to enter into this Agreement.

         (b)      the execution delivery and performance of this Agreement does
                  not exceed the power granted to it or violate the provisions
                  of its Memorandum and Articles of Association; and

         (c)      no winding-up petition has been presented against it nor any
                  receivers or managers appointed.

9.       MISCELLANEOUS

9.1.     Notices

         (a)      Any notice, consent, request, claim, demand, instruction or
                  other communication required or contemplated by this Agreement
                  to be given by any party shall, unless otherwise specified
                  herein, be in the English language and be delivered.

                  (i)      by hand, by postage-prepaid registered airmail or
                           express package service addressed to the party for
                           which it is intended at the address specified in this
                           Agreement or at such other address as shall be
                           notified in writing by the respective parties.
                           Notices shall be effected on the date of delivery as
                           evidenced by the postal receipt or other written
                           receipt; or

                                       12

<PAGE>

                  (ii)     by facsimile to the numbers below (or to such other
                           numbers as notified by the parties from time to time
                           in accordance with this Clause) and shall be deemed
                           to have been received by the addressee upon
                           completion of transmission with correct answer back
                           provided that the confirmation copy of the facsimile
                           is sent to the addresses by hand or postage-prepared
                           registered airmail.

         (b)      Any such notice, consent, request, claim, demand, instruction
                  or other communication shall be addressed as follows:

                  THE LANDLORD:             Geok Hong Sdn Bhd
                                            8th Floor, Menara BGI, Plaza Berjaya
                                            12 Jalan Imbi
                                            55100 Kuala Lumpur
                                            Tel No :  (603) 2141 0166
                                            Fax No: (603) 2142 6199

                  With copy to :            Allen & Gledhill
                                            27th Floor, West Wing
                                            Menara Maybank
                                            Jalan Tun Perak
                                            50050 Kuala Lumpur
                                            Attention - Thomas Fong

                                            Tel : (603) 2072 3212
                                            Fax : (603) 2070 8684

                  THE TENANT:               Mattline Industries Sdn Bhd
                                            Level 41, Suite B
                                            Menara Maxis
                                            Kuala Lumpur City Centre
                                            50088 Kuala Lumpur

                                            Tel. No: (603) 2055 1818
                                            Fax No: (603) 2161 2920

                  With copy to :            Wong & Partners
                                            Level 41, Suite A
                                            Menara Maxis
                                            Kuala Lumpur City Centre
                                            50088 Kuala Lumpur

                                            Tel  No : (603) 2055 1888
                                            Fax  No :  (603) 2161 2919

                                       13

<PAGE>

         or to such other address as a party may from time to time designate by
         notice to the others.

9.2.     Time of Essence

         Time wherever mentioned shall be of the essence of this Agreement.

9.3.     Amendments and Severability

         No provision of this Agreement may be amended, waived, discharged or
         terminated orally, nor may any breach of any provision of this
         Agreement be waived or discharged orally. If at any time any provision
         of this Agreement is or becomes illegal, invalid or unenforceable in
         any respect, the remaining provisions of this Agreement shall in no way
         be affected or impaired thereby.

9.4.     Exclusion

         The parties hereto admit and declare that this Agreement with the
         schedules and appendices annexed thereto (except otherwise agreed,
         varied, modified or supplemented in writing) contains the entire
         agreement between the parties and that all representations made by or
         on behalf of the Landlord or the Tenant (whether oral or otherwise) not
         embodied herein are hereby expressly excluded and negated.

9.5.     Waiver

         No failure or delay on the part of any party hereto in exercising nor
         any omission to exercise any right power privilege or remedy accruing
         hereunder upon any default on the part of the other shall impair any
         such right, power, privilege, remedy or be construed as a waiver
         thereof or an acquiescence in such default nor shall any action or
         omission to act by the said party in respect of any default or any
         acquiescence in any such default affect or impair any right, power,
         privilege or remedy in respect of any other subsequent default.

9.6.     Binding Effect

         This Agreement shall be binding on the permitted assigns or
         successors-in-title (as the case may be) of the parties hereto.

9.7.     Assignment

         No part of this Agreement may be transferred or assigned by any of the
         parties without the prior written consent of the other.

9.8.     Governing Law and Jurisdiction

         This Agreement shall be governed by and construed in accordance with
         the laws of Malaysia. The parties hereby submit to the non-exclusive
         jurisdiction of the Malaysian courts.

                                       14

<PAGE>

9.9.     Expenses and Costs

         Each party shall bear its own solicitors' fees in the preparation of
         this Agreement and all other disbursements incidental thereto but the
         stamp duty payable for this Agreement shall be borne by the Tenant
         solely.

9.10.    Interpretation of Headings

         The headings of each of the clause contained herein are inserted merely
         for convenience of reference and shall be ignored in the interpretation
         and construction of any of the provisions.

         [THE REMAINDER OF THIS PAGE HAS BEEN INTENTIONALLY LEFT BLANK]

                                       15

<PAGE>

IN WITNESS WHEREOF the parties hereto have hereunto set their hands the day and
year first above written.

SIGNED by /s/Joseph Tanner, Director        )
                                            )
for and on behalf of                        )
MATTLINE INDUSTRIES SDN BHD                 )
in the presence of :                        )

SIGNED by /s/Wong Chong Yee, General        )
Manager, Finance                            )
for and on behalf of                        )
GEOK HONG SDN BHD                           )
in the presence of :-                       )

                                       16

<PAGE>

                                 FIRST SCHEDULE

(Which is to be taken read and construed as an essential part of this Agreement)

<TABLE>
<CAPTION>
Item              Description                             Particulars
----       ---------------------              ----------------------------------
<S>        <C>                                 <C>
 1.        Date of Agreement                  April 1, 2003

 2.        Landlord                           Geok Hong Sdn Bhd

 3.        Tenant                             Mattline Industries Sdn Bhd

 4.         Demised Premises                  HSD 31775, PT 3222 at Mukim 1, Seberang
                                              Perai Tengah, Pulau Pinangupon which a
                                              factory building is situated

5(a)       Term of Tenancy                    Three years

5(b)       Commencement Date                  The later of 1 May 2003 or the Completion
                                              Date

5(c)       Expiry Date                        Third Anniversary
                                              of the Commencement Date

5(d)       First Renewal Term Expiry Date     First Anniversary of the
                                              expiry of the Term

 6.        Rent                               RM240,000 a month

 7.        Rent Deposit                       Equivalent to two months Rent

 8.        Utilities Deposit                  Equivalent to one month's Rent

 9.        First Renewal Term                 One year

10        Second Renewal Term                 Two years

11.       Weight Load                         [______] kg
</TABLE>

                                       17<PAGE>

                                                                   EXHIBIT 10.27

                                LICENSE AGREEMENT

         THIS LICENSE AGREEMENT ("Agreement") is entered into as of February 19,
2004 (the "Effective Date"), by and between Integrex Inc., a Washington
corporation, located at 22029 23rd Drive SE, Bothell, Washington ("Licensor"),
and Three Five Systems Inc., a Delaware corporation, located at 1600 North
Desert Drive, Tempe, AZ 85281 ("Licensee"). Licensor and Licensee are each
sometimes referred to herein as a "Party" and together as the "Parties."

                                   BACKGROUND

         A.       Licensor has rights in certain intellectual property and
customers that it wishes to license to Licensee so that Licensee may
manufacture, sell, market, and distribute products to those customers.

         B.       Licensee desires a worldwide perpetual license as described in
this Agreement.

                                    AGREEMENT

         For good and valuable consideration, the adequacy of which is hereby
acknowledged, the Parties agree as follows:

         1.0      Definitions.

         1.1      "ANCILLARY AGREEMENTS" means, collectively, the Asset Purchase
Agreement, the Bailment Agreement and the Manufacturing Services Agreement as
well as any other document or instrument reasonably requested by Licensor and/or
Licensee that is necessary to confirm the license of the assets to Licensee, and
Licensee's rights thereof, on and after the Effective Date.

         1.2      "ASSET PURCHASE AGREEMENT" means the agreement between
Licensor and Licensee of even date herewith pursuant to which Licensor sells and
delivers certain inventory, intangible property, and equipment to Licensee.

         1.3      "ASSETS" means the Inventory, Intangible Property, and
Equipment (as defined in the Asset Purchase Agreement) to be sold by Licensor to
Licensee under the Asset Purchase Agreement.

         1.4      "BAILMENT AGREEMENT" means the Bailment Agreement of even date
herewith between Licensor, as bailee, and Licensee, as bailor.

         1.5      "BOOKS AND RECORDS" means all books, records, books of
account, financial records, financial statements, files, data and papers,
whether in hard copy, computer format or otherwise, used or held for use by
Licensor or any of its subsidiaries in connection with or related to the
Licensed Property.

         1.6      "CUSTOMERS" means Licensor's past, current, or future
customers, or successors thereto by merger or asset purchase or otherwise,
including those Customers listed under Schedule 1.1 made part hereof.

<PAGE>

         1.7      "FIRST CLOSING DATE" has the meaning given that term in the
Asset Purchase Agreement.

         1.8      "LAW" means any federal, state, local or foreign law, statute,
ordinance, rule, regulation, code, license, permit, authorization, approval,
consent, legal doctrine, order, judgment, decree, award, injunction,
requirement, judicial or regulatory agency interpretation, policy or guidance or
agreement with any governmental authority having jurisdiction over the
transactions contemplated by this Agreement.

         1.9      "LICENSE" means the License granted by Licensor to Licensee
under this Agreement.

         1.10     "LICENSED PROPERTY" means any and all customer lists, sales
leads, purchase orders, worldwide sales, distribution and manufacturing rights,
and confidential information now owned or licensed by or hereafter acquired or
licensed by, Licensor and that are necessary for or useful in the use or sale of
all of the Products.

         1.11     "NET SALES" means the list selling price on any Purchase Order
less any sales discounts reflected on the face of such Purchase Order.

         1.12     "PRODUCT" or "PRODUCTS" means all products formerly,
currently, or in the future manufactured for Customers.

         1.13     "PURCHASE ORDERS" means all Licensor Product Purchase Orders
(including Purchase Order backlog) placed by Customers with either Licensor
and/or Licensee, including those Purchase Orders listed under Schedule 1.2 made
part hereof.

         1.14     "PURCHASE ORDER LOSS" means (a) a purchase order not
transferred to Licensee but licensed by Licensee and/or (b) remit to payment
designation located on a purchase order not listing or designating Licensee as
payee for which Licensee does not receive the amount paid to Licensor.

         1.15     "SECOND CLOSING DATE" has the meaning given that term in the
in the Asset Purchase Agreement.

         1.16     "TERRITORY" means the world.

         1.17     "MANUFACTURING SERVICES AGREEMENT" means the agreement between
Licensor and Licensee of even date herewith pursuant to which Licensor
manufactures and delivers certain Products to Licensee.

2.0      PROPERTY LICENSE GRANT. Licensor, to the fullest extent permitted under
the law, hereby grants to Licensee and Licensee hereby accepts an exclusive,
perpetual license within the Territory to the Licensed Property and all Books
and Records to manufacture, market, distribute, sell and offer to sell Products
in all fields of use.

3.0      LICENSE FEE. In consideration for the License, Licensee shall pay
Licensor a license fee (the "License Fee") for Products sold to Customers listed
on Schedule 1.1 payable as follows:

<PAGE>

         3.1      Licensee shall pay Licensor an amount equal to ten percent
(10%) of the Net Sales derived by Licensee during a 15 month period beginning
April 1, 2004 and ending June 30, 2005 from all Customers except Net Sales to
SNC/Inter-4.

         3.2      Licensee shall pay Licensor an amount equal to twelve percent
(12%) of the Net Sales derived by Licensee during a 24 month period beginning
July 1, 2004 and ending June 30, 2006 from Net Sales to SNC/Inter-4.

         3.3      All non-refundable payments described in Section 4.1 and 4.2
below shall constitute a credit against the first and all succeeding License
fees described in Sections 3.1 and 3.2 above, until fully utilized.

         3.4      The License Fee shall accrue on the date the corresponding
Products are shipped to the Customer. Licensee shall not manipulate shipping
dates in an effort to deprive Licensor of a License Fee to which it would
otherwise be entitled. The License Fee shall be payable within 30 days after
receipt by Licensee of payment from Customers of the Products with respect to
which the License Fee is payable. Unless Licensor and Licensee otherwise agree,
the License Fee shall be paid monthly on the 25th day of the month following the
month in which payment is received from Customer. Licensee shall make all
reasonable attempts to collect amounts owed by the Customers.

         3.5      In the event that Licensor receives any monies or checks from
Customers for Products that it ships after the First Closing Date, it will
immediately notify Licensee and remit (or in the case of a check, endorse) these
checks or monies over to Licensee unless Licensee notifies Licensor in writing
that Licensee has elected to set off such amounts against the License Fee.

4.0      NONREFUNDABLE, ADVANCE LICENSE FEE; LICENSE TRANSFER FEE.

         4.1      At the consummation of the transactions to occur on the First
Closing Date, Licensee shall pay Licensor a nonrefundable, prepaid license fee
equal to sixteen percent (16%) of the Net Sales reflected on all outstanding
valid written Purchase Orders issued by Customers in the ordinary course of
business ("Original Orders"). This fee shall cover, among other things, costs
necessary to transfer the Licensed Property to Licensee.

         4.2      Forty-five days after the First Closing Date, Licensee shall
pay Licensor a second amount equal to sixteen percent (16%) of the Net Sales
reflected on all valid written Purchase Orders issued by Customers in the
ordinary course of business and received by Licensee from the date of the First
Closing Date until the forty-fifth day after the First Closing Date (not
including the Original Orders), less any Original Orders which have been
cancelled.

         4.3      Licensee shall pay Licensor a nonrefundable fee in the amount
of $387,000 for transition of the License to be provided by Licensor to Licensee
in connection with the transactions to be consummated under this Agreement and
the Ancillary Agreements. Of this amount, $129,000 will be used by Licensor as
retention payments for Licensor's current employees.

<PAGE>

         4.4      The total fees owed by Licensor under Section 4.3 above, shall
be paid as follows:

                  (i)      $260,000 to be paid by Licensee as of the First
                           Closing Date.

                  (ii)     The balance to be paid by Licensee as of the Second
                           Closing Date.

5.0      SUBLICENSES . Licensee shall have the right, at any time and without
notice to or consent of Licensor, to sublicense third parties to manufacture,
sell, distribute or market the Products, provided such Sublicense does not
violate any applicable customer agreements and does not alter Licensee's
covenants and obligations.

6.0      CONDITIONS PRECEDENT. The effectiveness of this Agreement is subject to
the satisfaction of the following conditions on or before February 27, 2004.

         6.1      All of Licensor's representations and warranties set forth in
this Agreement and the Ancillary Agreements shall be true and correct in all
material respects as of the First Closing Date.

         6.2      There shall have been no order or preliminary or permanent
injunction entered in any action or proceeding before any United States federal
or state court or any foreign court of competent jurisdiction or any
governmental authority that has jurisdiction over the enforcement of any
applicable Laws making illegal or prohibiting the consummation of the
transactions contemplated by this Agreement or the Ancillary Agreements.

         6.3      No action, suit, or proceeding shall be pending before any
court or quasi-judicial court or administrative agency of any federal, state,
local or foreign jurisdiction or before any arbitrator wherein an unfavorable
injunction, judgment, order, decree, ruling, or charge would (i) legally prevent
consummation of the transactions contemplated by this Agreement or the Ancillary
Agreements, or (ii) cause the transactions contemplated by this Agreement or the
Ancillary Agreements to be rescinded following consummation.

         6.4      Licensor and Licensee shall have executed and delivered to
each other a duly executed counterpart of this Agreement and each of the
Ancillary Agreements.

         6.5      Licensor shall have obtained all necessary consents and
approvals required by any person to whom Licensor has contractual obligations or
to whom it is indebted for the consummation of the transactions contemplated by
this Agreement and the Ancillary Agreements and shall have provided a copy of
such consents or approvals to Licensee.

         6.6      Licensee shall have received a copy of a shareholder
resolution satisfactory to Licensee evidencing that shareholder approval of this
Agreement and the Ancillary Agreements has been duly obtained.

         6.7      Licensee shall have received a satisfactory certificate from a
competent officer of Licensor evidencing that the transactions as contemplated
by this Agreement and the Ancillary Agreements have been duly approved by the
Board of Directors of Licensor.

<PAGE>

         6.8      Licensor shall have performed in all material respects each
covenant and obligation of Licensor to be performed hereunder on or before the
date set by this Agreement.

         6.9      Licensor shall have waived any and all non-compete,
non-solicitation and other employment-related agreements between Licensor and
any of its employees with respect to employees that Licensee desires to employ
as of the First Closing Date.

         6.10     Licensor shall have obtained all necessary certificates,
consents and approvals required by any governmental authority for the
consummation of the transactions contemplated by this Agreement and the
Ancillary Agreements.

         6.11     Licensor shall have delivered, performed, observed and
complied in all material respects with all of the items, instruments, documents,
covenants, agreements and conditions required by this Agreement and the
Ancillary Agreements to be delivered, performed, observed and complied with by
Licensor on or before the First Closing Date.

         6.12 Licensee shall have received written confirmation satisfactory to
Licensee from Customers representing not less than 80% of budgeted revenue for
the period commencing on the First Closing Date and ending on December 31, 2004
that such Customers have approved the transition of each respective Customer's
business from Licensor's Bothell, WA facility to Licensee's Redmond, WA
facility. In no event shall such confirmation be deemed unsatisfactory to
Licensee if it is substantially in the form of confirmation prepared by Joe
Tanner.

Formal consummation of the transactions contemplated to occur as of the First
Closing Date (other than as contemplated by Section 18 below and the comparable
provisions in the Ancillary Agreements), shall constitute evidence that the
foregoing conditions precedent have been satisfied or waived, unless the Parties
otherwise agree in writing.

7.0      Representations and Warranties.

         7.1      Except as set forth in Schedule 7.1 attached hereto, Licensor
represents and warrants to Licensee as of the First Closing Date that:

                  (i)      Licensor is a corporation duly organized and validly
                           existing under the laws of the State of Washington
..                          and has the requisite corporate power and authority
                           to own the Assets delineated in the Asset Purchase
                           Agreement and operate its business as it is now being
                           conducted;

                  (ii)     The execution and delivery of, and Licensor's
                           performance under, this Agreement and the Ancillary
                           Agreements are within its powers and have been duly
                           authorized by all requisite corporate action;

                  (iii)    The person(s) executing this Agreement on behalf of
                           Licensor are duly authorized to do so and thereby
                           bind Licensor hereto;

                  (iv)     Licensor has good and marketable title to the
                           Inventory (as defined in the Asset Purchase
                           Agreement) free and clear of all liens, chattel
                           mortgages,

<PAGE>

                           materialmen's liens and other encumbrances, other
                           than liens for current taxes which are not past due;

                  (v)      Neither Licensor nor any of its officers, directors,
                           or to its actual knowledge its shareholders or their
                           affiliates have any commitment or legal obligation,
                           absolute or contingent, to any other person or firm
                           other than Licensee to sell, assign, transfer or
                           effect a sale of any of the Assets, other than
                           pursuant to Purchase Orders listed on the attached
                           Schedule;

                  (vi)     Neither Licensor nor any of its officers, directors,
                           employees, or to its actual knowledge its
                           shareholders or their affiliates have employed or
                           made any agreement with any broker, finder or similar
                           agent or any person or firm (other than Lincoln
                           Partners who shall be paid exclusively by Licensor)
                           which will result in an obligation to pay any
                           finder's fee, brokerage fees or commission or similar
                           payment in connection with the transactions
                           contemplated hereby;

                  (vii)    Licensor has the full, unencumbered right to grant
                           the License in the Licensed Property and title in the
                           Intangible Property (as defined in the Asset Purchase
                           Agreement). Licensor has not sold or granted to any
                           other person any license or other rights in the
                           Licensed Property or Intangible Property and Licensor
                           has no reason to believe that any other person has
                           any rights in or claims to the Licensed Property or
                           Intangible Property.

                  (viii)   There is no default or event of default under any of
                           the Contracts and there has been no occurrence or
                           circumstance that could reasonably be expected to
                           have an adverse effect on the Contracts or the
                           economic value thereof to Buyer;

                  (ix)     This Agreement and the Ancillary Agreements are
                           Licensor's valid, legal and binding obligation,
                           enforceable in accordance with the terms thereof and
                           does not conflict with or violate any law applicable
                           to Licensor, the violation of which would have a
                           material adverse effect on the Assets, the License or
                           Licensor's business;

                  (x)      Licensor's performance under this Agreement will not
                           result in the breach of, or constitute a default
                           under, any agreement or other instrument to which it
                           is a party or by which it is bound which would result
                           in an adverse effect on the Assets, the License or
                           Licensor's business;

                  (xi)     Neither Licensor nor any of its respective officers,
                           directors, or to its actual knowledge its
                           shareholders or affiliates have any commitment or
                           legal obligation, absolute or contingent, to any
                           other person or firm other than Licensee to sell,
                           assign, transfer or effect a sale of any of the
                           Licensed Property or Intangible Property.

<PAGE>

         7.2      Except as set forth in Schedule 7.2 attached hereto, Licensor
represents and warrants to Licensee as of the Second Closing Date that:

                           (i)      All of the representations and warranties
                                    made in Section 7.1 above remain true and
                                    correct in all material respects except to
                                    the extent that such representations and
                                    warranties have been affected by the
                                    consummation of the transactions
                                    contemplated by this Agreement or the
                                    Ancillary Agreements; and

                           (ii)     Licensor has good and marketable title to
                                    the Equipment free and clear of all liens,
                                    chattel mortgages, materialmen's liens and
                                    other encumbrances, other than liens for
                                    current taxes which are not past due and the
                                    rights of equipment lessors that have been
                                    disclosed to Licensee in writing on a
                                    schedule attached to the Asset Purchase
                                    Agreement.

                           (iii)    Licensor is not in default of its
                                    obligations to Licensee under this Agreement
                                    or the Ancillary Agreements.

The representations and warranties made by Licensor in Sections 7.1 and 7.2
herein shall continue in full force and effect until the date six (6) months
after the Second Closing Date.

         7.3      Except as set forth in Schedule 7.3 attached hereto, Licensee
represents and warrants to Licensor as of the Second Closing Date that:

                           (i)      Licensee is a corporation duly organized,
                                    validly existing and in good standing under
                                    the laws of the State of Delaware and has
                                    the requisite corporate power and authority
                                    to consummate the transactions contemplated
                                    by this Agreement and the Ancillary
                                    Agreements;

                           (ii)     The execution and delivery of, and
                                    Licensee's performance under, this Agreement
                                    and the Ancillary Agreements are within its
                                    powers and have been duly authorized by all
                                    requisite entity action;

                           (iii)    The person(s) executing this Agreement and
                                    the Ancillary Agreements on behalf of
                                    Licensee are duly authorized to do so and
                                    thereby bind it hereto;

                           (iv)     Neither Licensee nor any of its officers,
                                    directors, employees, shareholders or
                                    affiliates has employed or made any
                                    agreement with any broker, finder or similar
                                    agent or any person or firm which will
                                    result in an obligation to pay any finder's
                                    fee, brokerage fees or commission or similar
                                    payment in connection with the transactions
                                    contemplated hereby;

<PAGE>

                           (v)      This Agreement and the Ancillary Agreements
                                    are Licensee's valid, legal and binding
                                    obligation, enforceable in accordance with
                                    the terms hereof, except as enforceability
                                    may be limited by bankruptcy and other laws
                                    affecting the rights and remedies of
                                    creditors generally and general principles
                                    of equity, and does not conflict with or
                                    violate any law applicable to Licensee, the
                                    violation of which would prevent the
                                    consummation of the transactions
                                    contemplated by this Agreement or the
                                    Ancillary Agreements;

                           (vi)     Licensee's performance under this Agreement
                                    and the Ancillary Agreements will not result
                                    in the breach of, or constitute a material
                                    default under, any material agreement or
                                    other instrument to which it is a party or
                                    by which it is bound which would prevent the
                                    consummation of the transactions
                                    contemplated by this Agreement or the
                                    Ancillary Agreements.

         7.4      Except as set forth in Schedule 7.4 attached hereto, Licensee
represents and warrants to Licensor as of the Second Closing Date that:

                           (i)      All of the representations and warranties
                                    made in Section 7.3 above remain true and
                                    correct in all material respects except to
                                    the extent that such representations and
                                    warranties have been affected by the
                                    consummation of the transactions
                                    contemplated by this Agreement or the
                                    Ancillary Agreements; and

                           (ii)     Licensee is not in default of its
                                    obligations to Licensee under this Agreement
                                    or the Ancillary Agreements.

The representations and warranties made by Licensee in Sections 7.3 and 7.4
herein shall continue in full force and effect until the date six (6) months
after the Second Closing Date.

8.0      LICENSE TERM, TERMINATION & OFFSET

         8.1      The License shall be irrevocable and perpetual. Upon
Licensor's liquidation and dissolution, Licensor shall be allowed to assign the
right to receive payments under this Agreement to its creditors and such
liquidation and dissolution shall not in any way adversely affect Licensee's
payment obligations hereunder or under any Ancillary Agreement. Each such
assignment shall be subject to all of the terms, conditions, and limitations
hereof and no such assignment shall impair, modify, or limit in any respect
Licensee's right to effect setoff against the License Fee pursuant hereto or any
Ancillary Agreement. Licensor shall identify in writing to Licensee each
creditor to whom Licensee has assigned all or any portion of its rights
hereunder. There are no intended third-party beneficiaries to this Agreement.

         8.2      This Agreement may be terminated by the mutual, written
consent of the Parties.

<PAGE>

9.0      FURTHER ASSURANCES. Licensor shall, upon the request of Licensee,
promptly and duly execute and deliver any and all such further instruments and
documents and take such further action as Licensee may reasonably request to
obtain the full benefits of this Agreement and the rights and powers herein
granted.

10.0     INDEMNIFICATION.

         10.1     Each Party (the "Indemnifying Party") shall indemnify and hold
the other (the "Indemnified Party") harmless for, from and against any and all
claims, liabilities, loss, expense (including reasonable attorney fees) or
damages arising out of the Indemnifying Party's breach of any of its covenants
or obligations or representations and warranties made herein or in any Ancillary
Agreement. In furtherance and not in limitation of the foregoing
indemnification, Licensor shall specifically indemnify Licensee for from and
against any loss, expense or damages suffered or incurred by Licensee:

                  (i)      Arising out of a Purchase Order Loss.

                  (ii)     Arising out of the revocation by a Customer that
                  previously approved the transition of Customer's business from
                  Licensor's Bothell, WA facility to Licensee's Redmond, WA
                  facility of such approval within 120 days after the date of
                  such approval, unless such revocation is primarily the result
                  of the failure of Licensee to provide the Customer with at
                  least the level of service provided by Licensor immediately
                  prior to the First Closing Date.

                  (iii)    As a result of any of the Inventory acquired pursuant
                  to the Asset Purchase Agreement being defective or otherwise
                  not suitable for use in connection with the manufacture of
                  Products; provided, however, that Licensor's liability
                  therefore shall be limited to the Purchase Price attributable
                  to such defective or unsuitable Inventory.

                  (iv)     For the amount, if any, that the Manufacturing Costs
                  paid to Company exceeds Buyer's Net Sales, in accordance with
                  Section 4.5.2 of the Manufacturing Services Agreement.

                  (v)      For the amount, if any, that Licensee pays to the
                  lessor of Licensor's facility to cure any monetary defaults
                  arising under the lease for such facility, as contemplated
                  under that Forbearance Agreement between Benaroya Capital
                  Company, L.L.C., The Benaroya Company, LLC, and Licensor.

         10.2     The Indemnified Party shall, with reasonable promptness,
notify the Indemnifying Party of each claim, demand, or suit for which indemnity
is sought hereunder and shall fully cooperate in the defense thereof. The
Indemnifying Party shall have the right to designate counsel to defend against
such claims and suits; however, at the Indemnified Party's option, the
Indemnified Party shall have the right to participate in the defense with its
own counsel at its own expense. In no event shall any such claims or suits
affecting the rights of either Party be settled without the prior written
consent of that Party.

<PAGE>

         10.3     The indemnification obligations herein shall be subject to the
following limitations:

                  (i)      No claim for indemnification shall be made by an
                  Indemnified Party until the aggregate loss or damage to the
                  other Party exceeds $50,000; provided, however, that at such
                  time as such threshold is reached, the Indemnifying Party
                  shall be liable for all claims, liabilities, loss, expense and
                  damages (including all amounts up to such threshold); further
                  provided however, that such threshold shall not apply and need
                  not be reached as a condition of exercising setoff in
                  connection with any amounts for which indemnification is
                  sought under Section 10.1(iii), (iv), or (v) above or by
                  Licensor for Licensee's failure to pay sums owing pursuant to
                  Exhibit A attached to the Manufacturing Services Agreement.

                  (ii)     In no event shall Licensor's aggregate
                  indemnification liability exceed the amount it is entitled to
                  receive in consideration pursuant to this Agreement.

                  (iii)    The sole method by which Licensee shall be entitled
                  to seek recovery in connection with claims, liabilities, loss,
                  expense or damages with respect to which it is entitled to be
                  indemnified hereunder is to effect a dollar-for-dollar
                  reduction of the License Fee payable to Licensor pursuant to
                  and subject to the provisions of this Section 10; provided,
                  however, that with respect to any amounts for which
                  indemnification is sought under Section 10.1(v), in addition
                  to Licensee's right to setoff against the License Fee,
                  Licensee may also seek recovery by effecting a
                  dollar-for-dollar reduction of any amounts payable to Licensor
                  by Licensee on or before the Second Closing Date whether under
                  this Agreement or any Ancillary Agreement.

         10.4     Neither Party shall be entitled to make any claim for
indemnification under this Section with respect to any covenant contained herein
unless such claim is brought within two (2) years of the date hereof; provided,
however, that nothing in this Section 10.4 shall limit or impair the exercise by
(A) Licensor of its rights under Section 17.0 or the enforcement of its rights
to receive payment under this Agreement or the Ancillary Agreements, or (B)
Licensee of its rights under Section 19.

         10.5     NOTWITHSTANDING ANY OTHER PROVISION OF THIS AGREEMENT OR ANY
ANCILLARY AGREEMENT, THE FOREGOING REMEDIES ARE THE EXCLUSIVE REMEDIES UNDER
THIS AGREEMENT AND ARE MADE EXPRESSLY IN LIEU OF ALL OTHER REMEDIES EXPRESS OR
IMPLIED, EITHER IN FACT OR BY OPERATION OF LAW, STATUTORY OR OTHERWISE. NEITHER
LICENSOR NOR LICENSEE SHALL BE LIABLE FOR ANY INCIDENTAL OR CONSEQUENTIAL
DAMAGES.

11.0     Assignment.

         11.1     Upon the Second Closing Date, Licensee may assign this
Agreement or any right or duty hereunder with the express prior written consent
of Licensor, which will not be

<PAGE>

unreasonably withheld. Licensor may assign this Agreement or any right or duty
hereunder with the express prior written consent of Licensee, which will not be
unreasonably withheld.

         11.2     If assigned, the rights and obligations under this Agreement
shall accrue to and be binding upon the permitted assigns or successors to this
Agreement.

         11.3     All assignments by Licensor shall be subject to the provisions
of Section 8.1

12.0     Notice.

         12.1     Any notice required or provided for by the terms of this
Agreement shall be in writing, and any notices, reports, and statements provided
for hereunder shall be sent by (i) personal delivery, (ii) registered or
certified mail, (iii) facsimile transmission, or (iv) commercial overnight
delivery service, to the Party to be served therewith at the address set forth
below:

         If to Licensor:                 John Carleton
                                         c/o The Benaroya Company, LLC
                                         1100 Olive Way, Suite 1700
                                         Seattle, WA 98154
                                         Facsimile: (206) 447-9384

         With a copy to:                 John M. Steel
                                         Gray Cary Ware & Freidenrich LLP
                                         701 Fifth Avenue, Suite 7000
                                         Seattle, WA  98104
                                         Facsimile: (206) 839-4801

         If to Licensee::                Three-Five Systems, Inc.
                                         1600 North Desert Drive
                                         Tempe, Arizona 85281
                                         Attn: General Counsel
                                         Facsimile: (602) 389-8836

A change in mailing address for the foregoing purposes may be made by either
Party by giving written notice thereof to the other Party.

         12.2     Each communication given under this Section 12.0 shall be
deemed to have been given on the date of personal delivery, two (2) business
days following deposit thereof with the United States Postal Service (postage
prepaid), or one (1) business day following delivery of such communication to
the delivery service or facsimile transmission thereof.

<PAGE>

13.0     Right To Injunction And Attorney's Fees.

         13.1     Each Party agrees that any breach of this Agreement by it or
any of its employees, agents, officers or directors or any other third person
acting in concert with it or on its behalf may cause irreparable harm and result
in significant commercial damage to the other Party. It is further understood
and agreed that monetary damages would not be a sufficient remedy for any breach
of this Agreement and that, in addition to monetary damages and all other rights
and remedies available at law, the non-breaching Party shall be entitled to
equitable relief, including injunctive relief, specific performance and/or the
granting of an immediate restraining order and/or preliminary injunction
(without posting bond) enjoining any such breach or reasonably anticipated
breach as a remedy. Such equitable remedies shall not be deemed to be the
exclusive remedies for a breach of this Agreement but shall be in addition to
all other remedies available at law or equity.

         13.2     If a Party prevails in any action against the other for a
breach of the terms of this Agreement, including a restraining order and/or
injunction, then, in addition to any damages that may be awarded to the
prevailing Party, it shall be entitled to recover its reasonable attorney fees
and other litigation costs from the other Party in connection with such
litigation, including any appeal therefrom.

14.0     Force Majeure.

         14.1     If the performance of this Agreement, or any obligation under
this Agreement, is prevented, restricted or interfered with by reason of fire,
flood, earthquake, explosion or other casualty or accident, strikes or labor
disputes, inability to procure or obtain delivery of parts, supplies or power,
war or other violence, any law, order, proclamation, regulation, ordinance,
demand or requirement of any governmental agency, or any other act or condition
whatsoever beyond the reasonable control of the affected Party, the Party so
affected, upon giving prompt notice to the other Party, shall be excused from
such performance to the extent of such prevention, restriction or interference;
provided, however, that the Party so affected shall take all reasonable steps to
avoid or remove such cause of nonperformance and shall resume performance under
this Agreement with dispatch whenever such causes are removed.

         14.2     If a Party was required to meet a scheduled date of
performance of any obligation during such period of nonperformance, then the
date for performance and the time periods specified in Sections 3.1 and 3.2
shall be extended by a period equal to the period of nonperformance.

15.0     CHOICE OF LAW AND FORUM.

         15.1     This Agreement is made under, and shall be governed by and
construed in accordance with, the laws of the United States and the internal
laws of the State of Washington, without reference to its principles of
conflicts of law.

         15.2     The United States District Court for the District of
Washington and the state courts of Washington located in King County shall have
exclusive jurisdiction over any dispute involving this Agreement, and both Buyer
and Seller consent to personal jurisdiction in such courts. The Parties agree
that either or both of them may file a copy of this Section with any

<PAGE>

court of competent jurisdiction as written evidence of the knowing, voluntary
and bargained agreement between the Parties irrevocably to waive any objections
to venue or to convenience of forum.

16.0     Miscellaneous.

         16.1     Entire Agreement. This Agreement and the agreements referenced
herein set forth the entire agreement and understanding of the Parties with
respect to the subject matter hereof and merges all prior discussions with
respect to same. Any modification to this Agreement and such other agreements
must be in writing and signed by a duly authorized agent of the Party to be
bound.

         16.2     Independent Contractors. The Parties are independent
contractors. Each shall bear its own costs and expenses incurred in connection
with this Agreement. Neither Party has the authority to bind the other to any
third-party agreement, except as may be mutually agreed to in a separate
writing. In no event shall either Party be liable for any debts of the other
Party to its customers or its other creditors unless provided for in this
Agreement or in a separate writing.

         16.3     Severance. In the event a court of competent jurisdiction
finds any provision herein illegal or unenforceable, the illegal or
unenforceable provision shall be enforced, if possible, to the greatest extent
allowed by law in accordance with the Parties' intent as reflected by this
Agreement. If said provision cannot be enforced, the remainder of the Agreement
shall be enforced to the greatest extent possible, and the offending provision
shall be treated as though not a part of this Agreement.

         16.4     No Waiver Of Rights. Neither failure of either Party to give
notice of any breach or indulgence or waiver of its rights under this Agreement
shall affect its position under this Agreement or shall be construed as a waiver
of its right to give such notice for any subsequent breach. Nor shall any
failure to give notice constitute a waiver or release of any breach committed by
a Party unless such breach shall be expressly waived in writing.

         16.5     Interpretation. This Agreement shall be interpreted in
accordance with its fair meaning, and no provision of this Agreement shall be
interpreted for or against either Party because that Party or that Party's
counsel drafted such provision.

         16.6     Counterparts. This Agreement may be executed in any number of
counterparts and by each of the Parties hereto in separate counterparts, each of
which, when so executed and delivered, shall be an original, but all such
counterparts shall together constitute but one and the same instrument.

         16.7     Attorney's Fees. In the event that any action is taken to
enforce the terms of this Agreement, the prevailing Party shall be entitled to
recover its attorney fees and costs.

17.0 AUDIT RIGHTS. During the period beginning on April 1, 2004, and ending on
March 31, 2007, (the "Audit Period"), Licensee shall maintain records to
substantiate the fees paid to Licensor pursuant to Section 3 and 4 of this
Agreement. Licensor shall have the right, exercisable at Licensor's own expense,
to audit Licensee's records relating to the License Fee paid pursuant to this
Agreement. Licensor may conduct an audit no more often than once per

<PAGE>

calendar year. Each audit will be conducted during normal business hours by a
certified public accountant, and in such a manner as not to interfere with
normal business activities. Licensor will provide not less than ten (10) days'
prior written notice of an audit. Any underpayment or overpayment revealed by
any audit conducted pursuant to this Section 17 will be corrected by Licensee,
including payment or crediting of compensation, as applicable, within thirty
(30) days of the date of the auditor's report. If the auditor's report indicates
an underreporting of more than five (5%) percent of the total payments due
Licensor for the period audited, Licensee will pay the reasonable out-of-pocket
costs actually incurred by Licensor for conducting the audit.

18.0     PERFORMANCE BEFORE COMMENCEMENT. The Parties acknowledge and agree that
it may be mutually advantageous for each of them to agree to implement the
provisions of this Agreement and the Ancillary Agreements before or after the
date that any such agreements are executed, but prior to the First Closing Date.
In such event, the Parties agree to act in good faith to reasonably and
equitably give effect to the intended benefits of the transactions contemplated
by this Agreement and the Ancillary Agreements for such period. Furthermore, if
the Parties have implemented the provisions of this Agreement or any Ancillary
Agreement before the First Closing Date and for any reason the First Closing
Date does not occur, the Parties shall take such steps as are reasonable to
return to the status quo immediately prior to such implementation, making such
adjustments as are reasonable and fair for services performed, costs and
liabilities incurred, and materials used.

19.0     NON-COMPETITION; NON-SOLICITATION.

         (a)      GENERAL. In consideration of the payment of the License Fee,
Licensor hereby covenants and agrees as follows:

                  (i)      Without the prior written consent of Licensee,
Licensor shall not prior to June 30, 2007 (A) directly or indirectly acquire or
own in any manner any interest in any person, firm, partnership, corporation,
association or other entity which engages or plans to engage in any facet of the
business of Licensor or any of its affiliates or which currently competes, plans
to compete or in the future competes in any way with Licensor or any of its
affiliates, anywhere in the Territory, or (B) use its special knowledge of the
business of Licensee and its relationships with customers, suppliers and others
to compete with Licensee or any of its affiliates.

                  (ii)     Without the prior written consent of Licensee,
Licensor shall not prior to June 30, 2007, directly or indirectly (i) attempt to
employ or enter into any contractual arrangement with any employee or former
employee of Licensee or any of its affiliates, unless such employee or former
employee has not been employed by Licensee or any of its affiliates for a period
in excess of nine months, and/or (ii) call on or solicit any of the actual or
targeted prospective customers or clients of Licensee or any of its affiliates,
nor shall Licensor make known the names and addresses of such customers or any
information relating in any manner to Licensee's or any of its affiliates' trade
or business relationships with such customers.

                  (iii)    Licensor shall not at any time divulge, communicate,
use to the detriment of Licensee or any of its affiliates for the benefit of any
other person or persons, or misuse in any way, any confidential information. Any
confidential information or data now known or hereafter acquired by the Licensor
with respect to Licensee or any of its affiliates and their respective

<PAGE>

businesses shall be deemed a valuable, special and unique asset of Licensee that
is received by Licensor in confidence and as a fiduciary.

                  (iv)     Licensor acknowledges and agrees that the covenants
provided for in this Section are reasonable and necessary in terms of time, area
and line of business to protect Licensee. Licensor acknowledges and agrees that
such covenants are reasonable and necessary in terms of time, area and line of
business to protect the legitimate business interests of Licensee which include
its interests in protecting (i) valuable confidential business information, and
(ii) substantial relationships with customers throughout the United States. To
the extent that the covenants provided for in this Section may later be deemed
by a court to be too broad to be enforced with respect to its duration or with
respect to any particular activity or geographic area, the court making such
determination shall have the power to reduce the duration or scope of the
provision, and to add or delete specific words or phrases to or from the
provision. The provision as modified shall then be enforced.

                  (v)      Nothing in this Section, however, shall be construed
so as to prohibit the transactions and services contemplated under the
Manufacturing Services Agreement.

         (b)      INJUNCTION. It is recognized and hereby acknowledged by the
parties hereto that a breach or violation by Licensor of any or all of the
covenants and agreements contained in Section 19 may cause irreparable harm and
damage to Licensee or its affiliates in a monetary amount which may be virtually
impossible to ascertain. As a result, Licensor recognizes and hereby
acknowledges that Licensee and its affiliates shall be entitled to an injunction
from any court of competent jurisdiction enjoining and restraining any breach or
violation of any or all of the covenants and agreements contained in Section 19.

                         [Signatures On Following Page]

<PAGE>

         IN WITNESS WHEREOF, Licensor and Licensee have executed this Agreement
effective as of the Effective Date.

Licensee:                           LICENSOR:

Three Five Systems, Inc.            INTEGREX, INC.

By: /s/Joseph Tanner                By:    /s/Alan Fuhrman
    -----------------------------       ------------------
Name: Joseph Tanner                 Name: Alan Fuhrman
Its: Executive Vice President       Title: President and Chief Executive Officer

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