Document:

Exhibit 10.3

 

EMPLOYMENT AGREEMENT

 

THIS EMPLOYMENT AGREEMENT (the “Agreement”)
is entered into as of January 1, 2012, by and between Speedy Cosmo Limited, a British Virgin Island corporation (the “Company”),
and Lam Cheok Va, an individual (the “Executive”).

 

WHEREAS, the Board of Directors of the
Company (the “Board”), has determined that it is in the best interests of the Company and its shareholders to assure
that the Company will have the continued dedication of Executive; and

 

WHEREAS, in order to accomplish these objectives,
the Board has caused the Company to enter into this Agreement.

 

NOW, THEREFORE, IT IS HEREBY AGREED AS
FOLLOWS:

 

		1.	Employment Period. The Company hereby agrees to continue Executive in its employ, and Executive
hereby agrees to remain in the employ of the Company, for the period commencing on the date of the closing of the proposed merger
between the Company and Israel Growth Partners Acquisition Corp. (the “Merger”) and ending on the fifth anniversary
of such date (the “Employment Period”).

 

		2.	Terms of Employment.

		(a)	Position and Duties.

		(i)	During the Employment Period, (A) Executive’s position,
authority, duties and responsibilities shall be that of Chief Executive Officer, and (B) Executive’s services shall
be performed at the Company’s principal executive offices in Hung Lei VIP Room, Galaxy Casino, Galaxy
MacauTM Resort, Macau.

		(ii)	During the Employment Period, and excluding any periods
of vacation and sick leave to which Executive is entitled, Executive agrees to devote his full attention and time during normal
business hours to the business and affairs of the Company and to use Executive’s best efforts to perform faithfully and
efficiently such responsibilities. During the Employment Period it shall not be a violation of this Agreement for Executive to
(A) serve on civic or charitable boards or committees, (B) deliver lectures, fulfill speaking engagements or teach at educational
institutions and (C) manage personal investments, so long as such activities do not significantly interfere with the performance
of Executive’s responsibilities as an employee of the Company in accordance with this Agreement.

 

    	 

    	 

    

 

		(b)	Compensation.

		(i)	Salary. During the Employment Period, Executive shall
receive a monthly base salary (“Salary”) equal to HK$150,000. Such Salary shall be payable monthly in cash, subject
to withholding and deductions pursuant to Section 10(d).

		(ii)	Expenses. During the Employment Period, Executive shall
be entitled to receive prompt reimbursement for all reasonable business expenses incurred by Executive in accordance with the
policies, practices and procedures of the Company and its subsidiaries provided to other key management employees of the Company
and its subsidiaries.

		(iii)	Automobile. During the Employment Period, Executive shall
be entitled to the reasonable use of Company-owned automobiles made available by the Company for use by Executive and other key
management employees, subject to the reasonable use by such other key management employees, and reimbursement by the Company for
all reasonable expenses related to the use and operation of such automobile.

		(iv)	Vacation. During the Employment Period, Executive shall
be entitled to paid vacation in accordance with Company policies.

 

		3.	Termination.

		(a)	Death or Disability. This Agreement shall terminate automatically
upon Executive’s death. If the Company determines in good faith that the Disability of Executive has occurred (pursuant
to the definition of “Disability” set forth below), it will give to Executive written notice of its intention to terminate
Executive’s employment. In such event, Executive’s employment with the Company shall terminate effective on the 30th
day after the date of such notice (the “Disability Effective Date”), provided that, within such time period, Executive
shall not have returned to full-time performance of Executive’s duties. For purposes of this Agreement, “Disability”
means disability (either physical or mental) which (i) materially and adversely affects Executive’s ability to perform the
duties required of his office, and (ii) is determined to be total and permanent by a physician selected by the Company or its
insurers and acceptable to Executive or Executive’s legal representative (such agreement as to acceptability not to be withheld
unreasonably).

 

    	 

    	 

    

 

		(b)	Cause. The Company may terminate Executive’s employment
for “Cause.” For purposes of this Agreement, termination of Executive’s employment by the Company for Cause
shall mean termination for one of the following reasons: (i) the conviction of Executive of a felony by a court of competent jurisdiction;
(ii) an act or acts of dishonesty taken by Executive and intended to result in substantial personal enrichment of Executive at
the expense of the Company; or (iii) Executive’s failure to follow a direct, reasonable and lawful written order from the
Board, within the reasonable scope of Executive’s duties, which failure is not cured within 5 days.

		(c)	Notice of Termination. Any termination by the Company
for Cause shall be communicated by Notice of Termination to Executive given in accordance with Section 10(b) of this Agreement.
For purposes of this Agreement, a “Notice of Termination” means a written notice which (i) indicates the specific
termination provisions in this Agreement relied upon, (ii) sets forth in reasonable detail the facts and circumstances claimed
to provide a basis for termination of Executive’s employment under the provision so indicated and (iii) if the Date of Termination
(as defined below) is other than the date of receipt of such notice, specifies the termination date. The failure by the Company
to set forth in the Notice of Termination any fact or circumstance which contributes to a showing of Cause shall not waive any
right of the Company hereunder or preclude the Company from asserting such fact or circumstance in enforcing its rights hereunder.

		(d)	Date of Termination. “Date of Termination”
means the date of receipt of the Notice of Termination by Executive or any later date specified therein; provided, however, that
if Executive’s employment is terminated by reason of death or Disability, the Date of Termination shall be the date of death
of Executive or the Disability Effective Date, as the case may be.

 

		4.	Obligations of the Company upon Termination.

		(a)	Death. If Executive’s employment is terminated
by reason of Executive’s death, this Agreement shall terminate without further obligations to Executive’s legal representatives
under this Agreement, other than those obligations accrued or earned and vested (if applicable) by Executive as of the Date of
Termination, which shall be paid to Executive’s estate or beneficiary, as applicable, in a lump sum in cash within 30 days
of the Date of Termination.

		(b)	Disability. If Executive’s employment is terminated
by reason of Executive’s Disability, this Agreement shall terminate without further obligations to Executive, other than
those obligations accrued or earned and vested (if applicable) by Executive as of the Date of Termination, which shall be paid
to Executive in a lump sum in cash within 30 days of the Date of Termination.

		(c)	Cause. If Executive’s employment shall be terminated
by the Company for Cause, this Agreement shall terminate without further obligations to Executive other than the obligation to
pay to Executive the Salary accrued through the Date of Termination.

 

    	 

    	 

    

 

		5.	Transfer; Forfeiture of Securities. During the Employment Term, Executive shall not, during any
calendar year, sell, hypothecate or otherwise transfer more than twenty percent (20%) of the Executive’s shares in the Company
(including shares of stock issued upon the exercise of warrants) that Executive receives as a result of the transactions contemplated
by the Merger. If Executive’s employment is terminated for any reason prior to the expiration of the Employment Term, or
upon a breach by Executive of the provisions of Section 6 or Section 7, Executive shall transfer and assign all such shares in
the Company, together with any rights Executive has to receive further shares and warrants thereafter, to the Company and all such
securities shall be canceled. The certificates representing such shares shall bear a legend stating the restrictions of this Section
5.

 

		6.	Confidential Information. Executive shall hold in a fiduciary capacity for the benefit of the Company
all secret or confidential information, knowledge or data relating to the Company or any of its subsidiaries, and their respective
businesses, which shall have been obtained by Executive during Executive’s employment by the Company or any of its subsidiaries
and which shall not be or become public knowledge (other than by acts by Executive or his representatives in violation of this
Agreement). After termination of Executive’s employment with the Company, Executive shall not, without the prior written
consent of the Company, communicate or divulge any such information, knowledge or data to anyone other than the Company and those
designated by it.

 

		7.	Non-competition and Non-solicitation.

		(a)	Executive agrees that during his employment by the Company,
and during the eight (8) year period following the termination of Executive’s employment with the Company, regardless of
the reason for termination (collectively the “Restricted Period”), Executive shall not, directly or indirectly:

		(i)	whether as an individual, partner, joint venturer, owner,
manager, stockholder, employee, partner, officer, director, consultant, independent contractor, or other such role, render services
to, become employed by, own, or have a financial or other interest in any Competitive Business (as defined in Section 7(b)); or

		(ii)	solicit, recruit, induce, offer, assist, encourage or
suggest (A) that another business or enterprise offer employment to or enter into a business affiliation with any Company employee,
agent, contractor, or representative, or (B) that any Company employee, agent or representative terminate or modify his or her
employment or business affiliation with the Company.

 

    	 

    	 

    

 

		(b)	For purposes of this Agreement, the term “Competitive
Business” means any person, business or enterprise engaged in the operation or management of casinos or gaming activities
in any jurisdiction in which the Company is engaged in the management of casinos or gaming or junket activities or in which the
Company has profit interests in casinos or gaming or junket activities.

 

		8.	Remedy for Breach. Executive acknowledges and agrees that his breach of any of the covenants
contained in Section 6 and Section 7 (the “Restrictive Covenants”) of this Agreement will cause irreparable injury
to the Company and that remedies at law available to the Company for any actual or threatened breach by Executive of such covenants
will be inadequate and that the Company shall be entitled to specific performance of the covenants in this Article 4 or injunctive
relief against activities in violation of the Restrictive Covenants by temporary or permanent injunction or other appropriate judicial
remedy, writ or order, without the necessity of proving actual damages. This provision with respect to injunctive relief shall
not diminish the right of the Company to claim and recover monetary damages against Executive for any breach of this Agreement,
in addition to injunctive relief. Executive acknowledges and agrees that the Restrictive Covenants shall be construed as agreements
independent of any other provision of this or any other contract between the parties hereto, and that the existence of any claim
or cause of action by Executive against the Company, whether predicated upon this or any other contract, shall not constitute a
defense to the enforcement by the Company of said covenants.

 

		9.	Successors.

		(a)	This Agreement is personal to Executive and without the
prior written consent of the Company shall not be assignable by Executive. This Agreement shall inure to the benefit of and be
enforceable by Executive’s legal representatives.

		(b)	This Agreement shall inure to the benefit of and be binding
upon the Company and its successors and assigns.

 

		10.	Miscellaneous.

		(a)	This Agreement shall be governed by and construed in
accordance with the law of Macau, without reference to principles of conflicts of law. The captions of this Agreement are not
part of the provisions hereof and shall have no force or effect. This Agreement may not be amended or modified and no consent
may be given hereunder otherwise than by a written agreement executed by the parties hereto or their respective successors and
legal representatives that is approved by a majority plus one of the directors of the Company then in office.

 

    	 

    	 

    

 

		(b)	All notices and other communications hereunder shall
be in writing and shall be given by hand delivery to the other party or by registered or certified mail, return receipt requested,
postage prepaid, addressed as follows:

 

If to Executive:

At Executive’s last known address
evidenced on the Company’s payroll records.

 

If to the Company:

Speedy Cosmos Limited

M/F, Galaxy Macau, Avenida de Cotai, Cotai
City, Macau

Attention: Mr. Chung Long Jin

 

With a copy to:

Dra. Neves Monica Tavira

 

or to such other address as either party
shall have furnished to the other in writing in accordance herewith. Notice and communications shall be effective when actually
received by the addressee.

(c) The invalidity or unenforceability
of any provision of this Agreement shall not affect the validity or enforceability of any other provision of this Agreement.

(d) The Company may withhold from any amounts
payable under this Agreement such taxes and other deductions as shall be required to be withheld pursuant to any applicable law
or regulation.

(e) This Agreement contains the entire
understanding of the Company and Executive with respect to the subject matter hereof.

11. No Trust. No obligation of the Company
under this Agreement shall be construed as creating a trust, escrow or other secured or segregated fund, in favor of Executive
or his beneficiary. The status of Executive and Executive’s beneficiary with respect to any liabilities assumed by the Company
hereunder shall be solely those of unsecured creditors of the Company. Any asset acquired or held by the Company in connection
with liabilities assumed by it hereunder shall not be deemed to be held under any trust, escrow or other secured or segregated
fund for the benefit of Executive or Executive’s beneficiary or to be security for the performance of the obligations of
the Company, but shall be, and remain a general, unhypothecated, unrestricted asset of the Company at all times subject to the
claims of general creditors of the Company.

 

    	 

    	 

    

 

IN WITNESS WHEREOF, Executive has hereunto
set his hand and, pursuant to the authorization from its Board of Directors, the Company has caused these presents to be executed
in its name on its behalf, all as of the day and year first above written.

 

EXECUTIVE:

 

	/s/ Lam Cheok Va	 
	Lam Cheok Va	 

 

COMPANY:

Speedy Cosmo Limited

 

	/s/ Chung Long Jin	 
	By	 
	Chung Long Jin, ChairmanExhibit 10.4

 

LOAN AGREEMENT

 

THIS LOAN AGREEMENT
(“Agreement”) dated as of June 15, 2012, by and among the individuals set forth on the signature page hereto
(each, a “Lender” and collectively, the “Lenders”), and Macau Resources Group Limited, a
British Virgin Islands company with its registered office at P.O. Box 957, Offshore Incorporations Centre, Road Town, Tortola,
British Virgin Islands (the “Company”).  

 

RECITALS:

 

A. The Lenders
have advanced funds to Chung Long Jin, a Macau resident with BIR No. 5055428(0), for capital required to operate the Hung Lei
VIP Room in the Galaxy Casino, Galaxy MacauTM Resort,
Macau, China (“Hung Lei”).

 

B. Effective
with the proposed merger between the Company and Israel Growth Partners Acquisition Corp. (the “Merger”), Hung
Lei will be operated for the benefit of the Company and the Company will assume the obligation to repay the Lenders the funds
they have advanced to Hung Lei without interest.

 

C, The parties
desire to set forth their mutual understandings in connection with the repayment of the advances.

 

IT IS AGREED:

 

1.          Amount
of Advances.  The amount of the advances made to date for which the Company will assume the obligation to repay
is set forth on Schedule I hereto (the “Advances”). No interest will be paid on the Advances.

 

2.          Repayment
of Advances.  Commencing on the third anniversary of the date of the consummation of the Merger, the Company will
commence repayment of the Advances, in whole or in part, provided that after the making of any such repayment at least HK$ 80,000,000
of capital will be available to operate Hung Lei. Unless otherwise agreed between the Company and any of the Lenders, any repayments
will be made pro rata to the amount of the Advance then due each Lender.

 

3.          Certain
Waiver. Each Lender hereby irrevocably agrees to forego, and waives any right to receive, any commissions or any other compensation
or remuneration in connection with any capital it has provided to or for the benefit of operating Hung Lei. Nothing in this section
is intended to limit or deny the ability of any Lender to receive ordinary compensation for services rendered to or for the benefit
of the Company or Hung Lei.

 

4.          Legal
Effect. This Agreement shall be of no force or effect if the Merger is not consummated for any reason.

 

    	 

    	 

    

 

5.          Notices.  All
notices and other communications hereunder shall be in writing and shall be deemed given if delivered personally or by overnight
commercial delivery service providing proof of delivery to the parties if to the Company at the Hung Lei VIP Room in the Galaxy
Hotel, Macau, China, or in the case of any Lender, at the address specified under the signature of such Lender set forth below
(or at such other address for a party as shall be specified by like notice) and shall be deemed given when delivered to the recipient.

 

6.         Governing
Law.  This Agreement shall be governed by and construed in accordance with the laws of the Macau Special Administrative
Region of the People’s Republic of China without giving effect to principles of conflicts of law.

 

IN WITNESS WHEREOF,
the parties hereto have executed this Agreement as of the date first above written.

 

	 	COMPANY:
	 	 
	 	MACAU RESOURCES GROUP LIMITED
	 	 	 
	 	By	/s/ Chung Long Jin
	 	Name:	Chung Long Jin
	 	Title:	Chairman
	 	 	 
	 	LENDERS:
	 	 
	 	/s/ Chung Long Jin
	 	Chung Long Jin
	 	 
	 	Address:
	 	 
	 	 
	 	 
	 	/s/ Lam Cheok Va
	 	Lam Cheok Va
	 	 
	 	Address:
	 	 
	 	 
	 	 
	 	/s/ Hsu Chen-Hai
	 	Hsu Chen-Hai
	 	 
	 	Address:
	 	 
	 	 

 

    	 

    	 

    

 

	 	/s/ Shu Qinliang
	 	Shu Qinliang
	 	 
	 	Address:

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