Document:

ex4_36.htm

    
 

    Exhibit
      4.36

    

     

    

     

    EFFECTIVE
      AS OF THE 6th DAY OF MARCH 2007

     

     

    

     

    

     

    

     

    

     

    

     

    

     

    

     

    

     

    __________________________________________

     

    THE
      GLOBAL SOURCES

    SHARE
      GRANT AWARD PLAN

     

    __________________________________________

     

    

    

    

    

    

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    CONTENTS

    
      	
              Section

            	
              Heading

            
	 	 
	
              1.

            	
              Name
                of the Plan

            
	 	 
	
              2.

            	
              Purpose
                of the Plan

            
	 	 
	
              3.

            	
              Shares
                Subject to the Plan

            
	 	 
	
              4.

            	
              Grants
                to Eligible Persons

            
	 	 
	
              5.

            	
              Non-transferability

            
	 	 
	
              6.

            	
              Adjustments

            
	 	 
	
              7.

            	
              Vesting
                of Shares

            
	 	 
	
              8.

            	
              Plan
                Duration

            
	 	 
	
              9.

            	
              Administration

            
	 	 
	
              10.

            	
              Terminating
                Transactions

            
	 	 
	
              11.

            	
              Government
                Regulations

            
	 	 
	
              12.

            	
              Costs
                and Expenses

            
	 	 
	
              13.

            	
              Amendment
                or Termination of the Plan

            
	 	 
	
              14.

            	
              Effective
                Date of the Plan

            
	 	 
	 	 
	
              15.

            	
              Limitation
                of Liability

            
	 	 
	
              16.

            	
              Governing
                Law and Jurisdiction

            
	 	 
	
              17.

            	
              Status
                of the Plan

            
	 	 
	
              Annex

            	
              Form
                of Share Award Certificate

            
	 	 
	
              Schedule
                1

            	
              Certain
                Other Conditions Relating to the Award of
                Shares

            

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

     

    THE
      GLOBAL SOURCES

     

    SHARE
      GRANT AWARD PLAN

     

    

    

    1.     Name
      of the Plan

    

    
      	
              1.1

            	
              This
                equity compensation plan shall be known as “The Global Sources Share Grant
                Award Plan” (hereinafter referred to as the
                “Plan”).

            

    

    

    
      	
              1.2

            	
              This
                Plan is made pursuant to The Global Sources Equity Compensation (2007)
                Master Plan (the “Master Plan”), and constitutes a
                supplementary or subsidiary document to (and shall form an integral
                part
                of and be read in conjunction with) the Master
                Plan.

            

    

    

    2.     Purpose
      of the Plan

    

    2.1           The
      purpose of the Plan is to make awards of common shares of US$0.01 each (the
      “Shares”) in Global Sources Ltd. (the
“Company”), a company incorporated in Bermuda, through
      The
      Global Sources Equity Compensation Trust 2007 (the “Trust”) to
      Eligible Persons as set out in Section 4.

     

    3.     Shares
      Subject to the Plan

    

    
      	
              3.1

            	
              The
                Trust has been established pursuant to a Declaration of Trust dated
                28
                November 2006 (“Trust Document”) by Appleby Trust
                (Bermuda) Limited (the “Trustee”), and the trusts set out
                therein have been accepted by the
                Trustee.

            

    

    

    
      	
              3.2

            	
              All
                Awarded Shares (as defined in Section 4.3) awarded to a Grantee (as
                defined in Section 4.2) shall be issued and allotted by the Company
                to the
                Trustee (which Awarded Shares so issued and allotted shall form part
                of
                the Trust property to be held by the Trustee as trustee of the Trust),
                and
                shall be eligible for the subsequent transfer (and shall be subsequently
                transferred) by the Trustee to the respective Grantee pursuant to
                this
                Plan, subject to and in accordance with the vesting rules and other
                applicable provisions of this Plan.

            

    

    

    
      	
              3.3

            	
              A
                plan committee (the “Plan Committee”) has been
                constituted to (amongst other things) determine the award and allocation
                of the grant of Shares and other benefits to the Grantees, with such
                powers, functions, rights, responsibilities and terms of reference
                as are
                provided for, and/or contemplated, by the Master Plan and/or the
                Trust
                Document.

            

    

    

    4.     Grants
      to Eligible Persons

    

    
      	
              4.1

            	
              In
                this Plan:-

            

    

    

    
      	
               

            	
              “Eligible
                Person” shall mean any person who is a Global Sources Team Member
                on or after the Commencement Date (as defined in Section 14.1)
                hereof;

            

    

    “Global
      Sources Group” shall mean Global Sources Ltd. and its subsidiaries,
      collectively;

    

    “Global
      Sources Network” shall mean the Global Sources Group and Other Relevant
      Entities, collectively;

    

    “Global
      Sources Team Member” shall mean any person who is employed or engaged
      as an employee, director or consultant of any Global Sources Network company;
      and

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    

    “Other
      Relevant Entity” shall mean any independent contractor of Global
      Sources Ltd. or any of its subsidiaries (including the Company), as determined
      by the Plan Committee from time to time.

    

     

    
      	
              4.2

            	
              Each
                Eligible Person shall be eligible to be receive awards of Shares
                under the
                Plan. The Plan Committee shall select and determine (in its sole
                and
                absolute discretion) which Eligible Persons shall receive awards
                of Shares
                (the persons receiving such awards of Shares being hereinafter referred
                to
                collectively as the “Grantees” and individually as a
                “Grantee”).

            

    

    

    
      	
              4.3

            	
              The
                number of Shares to be awarded to a Grantee (“Awarded
                Shares”) shall be determined by the Plan Committee (in its sole
                and absolute discretion) at the time of the award. Such Awarded Shares
                shall vest in accordance with the provisions of Section
                7.

            

    

    

    5.     Non-transferability

    

    
      	
              5.1

            	
              Any
                Shares awarded under the Plan shall be non-transferable except in
                accordance with the provisions of Section 7.1(a)(ii) hereof and/or
                paragraph 1 of Schedule 1 hereto.

            

    

    

    6.     Adjustments

    

    
      	
              6.1

            	
              If
                the outstanding Shares then subject to the Plan are changed into
                or
                exchanged for a different number or kind of shares or securities,
                as a
                result of one or more reorganisations, recapitalisations, stock splits,
                reverse stock splits, stock dividends and the like, appropriate
                adjustments shall be made in the number and/or type of the outstanding
                Shares as shall be directed by the Plan Committee.  Any such
                adjustment in outstanding Shares shall be made in order to preserve,
                but
                not to increase or decrease, the benefits to the Grantees existing
                immediately prior to the event giving rise to such
                adjustment.

            

    

    

    7.     Vesting
      of Shares

    

    
      	
              7.1

            	
              Shares
                awarded under the Plan shall vest in the Grantee in accordance with
                such
                vesting schedule as may be determined by the Plan Committee at the
                time
                the Shares are awarded, subject to the
                following:

            

    

    

    
      	
               

            	
              (a)

            	
              In
                the case of every Share awarded
                hereunder:

            

    

    

    
      	
              (i)  

            	
              if,
                before all the Awarded Shares are vested in accordance with the applicable
                vesting schedule, a Grantee ceases to be a Global Sources Team Member,
                for
                any reason other than death, then all Awarded Shares which have not
                yet
                vested at the time of such cessation and which are held by the Trustee
                for
                the Grantee shall be forfeited to the Trust, in which event all such
                forfeited Shares shall be available for further grant under the Plan;
                or

            

    

    

    
      	
              (ii)  

            	
              if,
                before all the Awarded Shares are vested in accordance with the applicable
                vesting Schedule, a Grantee shall die, then all Awarded Shares which
                have
                not yet vested at the time of death shall immediately vest, and the
                person
                or persons to whom the Grantee’s rights to the Awarded Shares shall have
                lawfully passed, whether by will, by the applicable laws of succession
                or
                otherwise, shall be entitled to receive such Awarded
                Shares.

            

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    

    
      	
               

            	
              (b)

            	
              All
                Awarded Shares, when vested and issued to a Grantee, shall rank pari
                passu in all respects with other Shares of the Company of the same
                class, including the right for the holder thereof to receive dividends
                (if
                any); provided however that (for the avoidance of doubt), unless
                and until
                Awarded Shares are actually vested and issued to a Grantee, the Grantee
                shall not be entitled to receive any dividends thereon or to have
                any
                voting rights therein.

            

    

    

    
      	
               

            	
              (c)

            	
              Once
                Shares are awarded to a Grantee, the terms of vesting cannot be varied
                to
                the detriment of the Grantee without the written consent of such
                Grantee.

            

    

    

    
      	
               

            	
              (d)

            	
              Where,
                in accordance with the applicable vesting schedule, any fractional
                number
                of Shares results from the percentage calculation of Awarded Shares
                which
                are to vest from time to time, such number shall be rounded up to
                the next
                whole Share.

            

    

    

    
      	
               

            	
              (e)

            	
              The
                rights to Awarded Shares acquired by a Grantee under the Plan shall
                not be
                transferable, except in accordance with the provisions of Section
                7.1(a)(ii) hereof or paragraph 1 of Schedule 1
                hereto.

            

    

    

    8.     Plan
      Duration

    

    
      	
              8.1

            	
              This
                Plan shall commence with effect from the Commencement Date (as defined
                in
                Section 14.1) and shall terminate
                upon:-

            

    

     

    
      	
               

            	
              (a)

            	
              the
                expiration or termination of the Master Plan;
                or

            

    

     

    
      	
               

            	
              (b)

            	
              the
                termination of this Plan in accordance with the provisions of Section
                10.1
                or Section 13.1 hereof,

            

    

    

    
      	
               

            	
              whichever
                is the earliest to occur.

            

    

    

    
      	
              8.2

            	
              Shares
                may not be awarded after the Plan is terminated, provided that (for
                the
                avoidance of doubt) if the terms of any award made prior to the
                termination date of the Plan provide for the vesting of Shares thereunder
                to occur upon or after such termination date, then such award and
                the
                vesting of Shares thereunder shall not be prejudiced by the termination
                of
                the Plan.

            

    

    

    9.     Administration

    

    
      	
              9.1

            	
              The
                Plan shall be managed and administered by the Trustee, subject always
                to
                the directions of the Plan Committee as provided under the Trust
                Document.

            

    

    

    
      	
              9.2

            	
              The
                interpretation and construction by the Plan Committee of any of the
                provisions of the Plan or of any Grants awarded hereunder shall be
                final
                and binding upon Grantees and their respective
                successors.

            

    

    

    
      	
              9.3

            	
              The
                Plan Committee may, from time to time, adopt further rules and regulations
                for carrying out the Plan and, subject to the provisions of the Plan
                and
                the directions and approval of the Plan Committee, the Trustee may
                issue a
                certificate in the form set out in the Annex to the Plan or such
                other
                form or forms of the instruments evidencing Shares awarded under
                the Plan
                as may be prescribed and approved by the Plan
                Committee.

            

    

    

    
      	
              9.4

            	
              Subject
                to the provisions of the Plan, the Plan Committee shall have full
                and
                final authority (in its sole and absolute
                discretion):-

            

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    

    
      	
               

            	
              (a)

            	
              to
                determine (from amongst Eligible Persons) the Grantees to be awarded
                Shares;

            

    

    

    
      	
               

            	
              (b)

            	
              to
                determine the number of Shares to be
                awarded;

            

    

    

    
      	
               

            	
              (c)

            	
              to
                determine the terms of award, including any vesting
                provisions;

            

    

    

    
      	
               

            	
              (d)

            	
              to
                determine such other terms and provisions of award as it may authorise
                at
                the time when each Share is awarded (each of which terms and provisions
                may be different for each award);
                and

            

    

    

    
      	
               

            	
              (e)

            	
              (subject
                to Section 7.1(c) above) to amend the terms of any existing award
                to
                accelerate the time or times at which Shares awarded under the Plan,
                or
                any part thereof, shall become vested, or in any other respect which
                shall
                not adversely affect the rights of the Grantee of such award of
                Shares.

            

    

    

    
      	
              9.5

            	
              The
                Trustee, the Plan Committee, the Board of Directors of the Company
                and the
                Company shall not be liable for any action taken, or any determination
                made, in good faith, in connection with the
                Plan.

            

    

    

    
      	
              9.6

            	
              The
                Company or its Board of Directors may delegate any of its powers,
                rights,
                duties and/or responsibilities under the Plan to the Plan Committee,
                who
                may discharge the same with the authority and in the place and stead
                of
                the Company or its Board of Directors (as the case may
                be).

            

    

    

    10.     Terminating
      Transactions

    

    
      	
              10.1

            	
              Upon
                the occurrence of a Terminating Transaction, as hereinafter defined,
                the
                Plan shall terminate.  Upon the happening of a Terminating
                Transaction and the corresponding termination of the Plan, any Awarded
                Shares which have not yet vested (at the time of the Terminating
                Transaction and the corresponding termination of the Plan) shall
ipso
                facto become vested in the respective
                Grantees.

            

    

    

    
      	
              10.2

            	
              “Terminating
                Transaction” shall mean such transaction or proceedings,
                resulting (whether at the time of, or upon the conclusion of, such
                transaction or proceedings) in the liquidation of the Company, as
                the Plan
                Committee shall in its sole and absolute discretion
                determine.

            

    

    

    11.           Government
      Regulations

    

    
      	
              11.1

            	
              The
                Trustee shall not issue any Awarded Shares upon the vesting thereof,
                unless and until all licences, permissions and authorisations required
                to
                be granted by the Government of Bermuda, or by any authority or agency
                thereof, shall have been duly
                received.

            

    

    

    
      	
              12.

            	
              Costs
                and Expenses

            

    

    

    
      	
              12.1

            	
              All
                costs and expenses with respect to the adoption of the Plan and in
                connection with the registration of Shares shall be borne by the
                Company;
                provided, however, that (except as otherwise specifically provided
                in the
                Plan or in any agreement between the Company and a Grantee), the
                Company
                shall not be obliged to pay or be otherwise responsible for any costs
                or
                expenses (including but not limited to any legal fees) incurred by
                any
                Grantee, or any brokerage, service or other fees, charges, costs
                or
                expenses due or payable, or any taxes which may be due or payable,
                upon or
                in connection with any award of Shares or any Awarded Shares, and/or
                the
                vesting or issuance of Awarded Shares, and/or the holding or transfer
                of
                any Awarded Shares by any Grantee.

            

    

    

    
      	
              12.2

            	
              All
                Shares awarded to a Grantee shall be denominated in United States
                Dollars
                only, and any currency exchange gains and/or losses relating to such
                Awarded Shares during the vesting period shall be borne solely by
                the
                Grantee concerned.

            

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    

    
      	
              13.

            	
              Amendment
                or Termination of the
                Plan

            

    

    

    
      	
              13.1

            	
              The
                Plan Committee (acting in its sole and absolute discretion) may alter,
                amend, suspend or terminate the Plan; provided however that, except
                as
                otherwise provided in the Plan, no such action shall deprive any
                Grantee,
                without his/her consent, of any of his/her rights under an award
                of Shares
                already made to the Grantee pursuant to the
                Plan.

            

    

    

    
      	
              13.2

            	
              No
                amendment of this Plan shall increase the duties and/or responsibilities
                of the Trustee without its consent.

            

    

    

    14.     Effective
      Date of the Plan

    

    
      	
              14.1

            	
              This
                Plan shall be deemed to commence with effect from 6 March 2007
                (“Commencement
                Date”).

            

    

     

    15.           Limitation
      of Liability

     

    
      	
              15.1

            	
              No
                member of the Board of Directors of the Company or the Plan Committee,
                or
                any person authorised to act on their behalf, shall be personally
                liable
                for any action, determination or interpretation taken or made in
                good
                faith with respect to the Plan, and all members of the Board of Directors
                of the Company or the Plan Committee, and each and any person authorised
                to act on their behalf, shall, to the extent permitted by law, be
                fully
                indemnified and protected by the Company in respect of any such action,
                determination or interpretation.

            

    

     

    
      	
              16.

            	
              Governing
                Law and Jurisdiction

            

    

    

    
      	
              16.1

            	
              This
                Plan shall be governed by and interpreted and construed in accordance
                with
                the laws of Bermuda; and the Company, the Trustee, the Plan Committee
                (and
                its members) and each Grantee, hereby irrevocably submits to the
                exclusive
                jurisdiction of the courts of
                Bermuda.

            

    

    

    17.           Status
      of the Plan

    

    
      	
              17.1

            	
              This
                Plan shall be subject and subordinate to the Master Plan, and in
                the event
                of any conflict or inconsistency between the provisions of this Plan
                and
                the provisions of the Master Plan, the provisions of the Master Plan
                shall
                prevail (but only to the extent of such conflict or
                inconsistency).

            

    

     

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    

    ANNEX
      – FORM OF SHARE AWARD CERTIFICATE

     

    

    THIS
      DOCUMENT IS IMPORTANT AND SHOULD BE KEPT IN A SAFE PLACE

     

    GLOBAL
      SOURCES LTD.

       SHARE
      AWARD CERTIFICATE

     

    THE
      GLOBAL SOURCES SHARE GRANT AWARD PLAN

     

    

     

    THIS
      IS TO CERTIFY that, on the date shown below, a grant of Shares was
      awarded to the Grantee named below, subject to the provisions of the
      above-mentioned Plan, as amended from time to time and to the Rules made
      pursuant thereto for the time being in force, to receive the number of common
      shares of US$0.01 each in the capital of Global Sources Ltd. specified
      below.

     

    

    
      	
              Grantee:  Name:

            	 	 	 
	 	 	 	 
	
              Address:

            	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	
              Date
                of Award:

            	 	 	 
	 	 	 	 
	
              Vesting
                Dates and amounts

            	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	
              Number
                of Shares:

            	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	
              For
                and on behalf of the Trustee

            
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 

    

     

     

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

     

    

     

     SCHEDULE
      1

     

    CERTAIN
      OTHER CONDITIONS RELATING TO THE AWARD OF SHARES

    

     

    Upon
      the
      awarding of Shares to the Grantee, such Awarded Shares shall not vest in the
      Grantee, but shall be held by the Trustee for the Grantee subject to the
      following provisions and subject to and in accordance with the provisions of
      the
      Plan:

     

    
      	
              1.  

            	
              The
                Grantee can direct the Trustee to transfer the Awarded Shares, upon
                the
                vesting thereof, to the Grantee or to such person as the Grantee
                directs.

            

    

     

    
      	
              2.  

            	
              No
                loans shall be made to a Grantee against the award of Shares under
                this
                Plan.

            

    

     

    
      	
              3.  

            	
              Awarded
                Shares which have not yet vested under this Plan cannot be committed
                as
                collateral.

            

    

     

    
      	
              4.  

            	
              It
                is the responsibility of the Grantee to ensure that he/she may participate
                in this Plan under the laws of his/her
                jurisdiction.

            

    

     

    
      	
              5.  

            	
              All
                disputes regarding this Plan shall be referred to the Plan Committee
                for
                resolution, and its decision shall be final and
                binding.ex4_37.htm

    Exhibit
      4.37

     

    

     

    

     

    EFFECTIVE
      AS OF THE 6th DAY OF MARCH 2007

     

     

    

     

    

     

    

     

    

     

    

    

     

     __________________________________________

     

    

    THE
      GLOBAL SOURCES

    RETENTION
      SHARE GRANT PLAN

    __________________________________________

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    CONTENTS

    
      	
              Section

            	
              Heading

            
	 	 
	
              1.

            	
              Name
                of the Plan

            
	 	 
	
              2.

            	
              Purpose
                of the Plan

            
	 	 
	
              3

            	
              Shares
                Subject to the Plan

            
	 	 
	
              4

            	
              Grants
                to Eligible Persons

            
	 	 
	
              5.

            	
              Non-transferability

            
	 	 
	
              6.

            	
              Adjustments

            
	 	 
	
              7.

            	
              Vesting
                of Shares

            
	 	 
	
              8.

            	
              Plan
                Duration

            
	 	 
	
              9.

            	
              Administration

            
	 	 
	
              10.

            	
              Terminating
                Transactions

            
	 	 
	
              11.

            	
              Government
                Regulations

            
	 	 
	
              12

            	
              Costs
                and Expenses

            
	 	 
	
              13.

            	
              Amendment
                or Termination of the Plan

            
	 	 
	
              14

            	
               Effective
                Date of this Plan

            
	 	 
	
              15.

            	
              Limitation
                of Liability

            
	 	 
	
              16.

            	
              Governing
                Law and Jurisdiction

            
	
              17

            	
              Status
                of the Plan

            
	 	 
	 	 
	
              Annex

            	
              Form
                of Share Award Certificate

            
	 	 
	
              Schedule
                1

            	
              Certain
                Other Conditions Relating to the Award of Shares

            
	 	 
	
              Schedule
                2

            	
              Vesting
                Schedule

            

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    THE
      GLOBAL SOURCES

    RETENTION
      SHARE GRANT PLAN

     

    

    

    1.           Name
      of the Plan

    

    
      	
              1.1

            	
              This
                equity compensation plan shall be known as “The Global Sources Retention
                Share Grant Plan” (hereinafter referred to as the
                “Plan”).

            

    

    

    
      	
              1.2

            	
              This
                Plan is made pursuant to The Global Sources Equity Compensation (2007)
                Master Plan (the “Master Plan”), and constitutes a
                supplementary or subsidiary document to (and shall form an integral
                part
                of and be read in conjunction with) the Master
                Plan.

            

    

    

    2.           Purpose
      of the Plan

     

    2.1           The
      purpose and objectives of the Plan are as follows:-

     

    
      	
               

            	
              (a)

            	
              to
                ensure the continuing success of the Global Sources Network (as defined
                in
                Section 4.1) by providing valued Global Sources Team Members (as
                defined
                in Section 4.1) with an incentive to remain “in good standing” (as
                determined in accordance with Section 7.1) with the Global Sources
                Network; and

            

    

    

    
      	
               

            	
              (b)

            	
              to
                encourage valued Global Sources Team Members to remain committed
                and
                engaged as shareholders and owners of Global Sources Ltd. (the
                “Company”) (a company incorporated in
                Bermuda),

            

    

    

    by
      providing such Global Sources Team Members with a share grant benefit, upon
      him/her ceasing to be a Global Sources Team Member by virtue of retirement
      or
      earlier termination or departure  from Service (as defined in Section
      4.1), by making awards of common shares of One United States Cent (US$0.01)
      par
      value each (the “Shares”) in the Company,  through
      The Global Sources Equity Compensation Trust 2007 (the
“Trust”), to Eligible Persons as set out in Section
      4.

     

    3.           Shares
      Subject to the Plan

     

    
      	
              3.1

            	
              The
                Trust has been established pursuant to a Declaration of Trust dated
                28
                November 2006 (“Trust Document”) by Appleby Trust
                (Bermuda) Limited (the “Trustee”), and the trusts set out
                therein have been accepted by the
                Trustee.

            

    

    

    
      	
              3.2

            	
              All
                Awarded Shares (as defined in Section 4.3) awarded to a Grantee (as
                defined in Section 4.2) shall be issued and allotted by the Company
                to the
                Trustee (which Awarded Shares so issued and allotted shall form part
                of
                the Trust property to be held by the Trustee as trustee of the Trust),
                and
                shall be eligible for the subsequent transfer (and shall be subsequently
                transferred) by the Trustee to the respective Grantee pursuant to
                this
                Plan, subject to and in accordance with the vesting rules and other
                applicable provisions of this Plan.

            

    

    

    
      	
              3.3

            	
              A
                plan committee (the “Plan Committee”) has been
                constituted to (amongst other things) determine the award and allocation
                of the grant of Shares and other benefits to the Grantees, with such
                powers, functions, rights, responsibilities and terms of reference
                as are
                provided for, and/or contemplated, by the Master Plan and/or the
                Trust
                Document.

            

    

    

    4.           Grants
      to Eligible Persons

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    

    
      	
              4.1

            	
              In
                this Plan:-

            

    

    

    
      	
               

            	
              “Eligible
                Person” shall mean any Global Sources Team Member who on or after
                the Commencement Date (as defined in Section 14.1)
                hereof:

            

    

     

    (a)           has
      been a Global Sources Team Member for a minimum of five (5) years;

     

    (b)           ceases
      to be a Global Sources Team Member by virtue of Retirement;

     

    
      	
               

            	
              (c)

            	
              at
                the time of Retirement, he/she was “in good standing” (as determined in
                accordance with Section 7.1); and

            

    

     

    (d)           has
      Other Forfeited Shares on the date of Retirement;

     

    
      	
               

            	
              “Global
                Sources Group” shall mean Global Sources Ltd. and its
                subsidiaries, collectively;

            

    

     

    “Global
      Sources Network” shall mean the Global Sources Group and Other Relevant
      Entities, collectively;

    

    “Global
      Sources Team Member” shall mean any person who is employed or engaged
      as an employee, director or consultant of any Global Sources Network
      company;

    

    “Other
      Relevant Entity” shall mean any independent contractor of Global
      Sources Ltd. or any of its subsidiaries (including the Company), as determined
      by the Plan Committee from time to time;

    

    “Other
      Forfeited Shares” shall mean Shares which were awarded to the Global
      Sources Team Member concerned, prior to his/her Retirement, pursuant to The
      Global Sources Employee Equity Compensation Plan No. VII or any other applicable
      equity compensation plan(s)  (whether existing prior to, as of or
      after the Commencement Date of this Plan), but which Shares have not yet vested
      at the time of such Retirement and which are forfeited as a consequence of
      such
      Retirement under the terms and conditions thereof;

    

    “Retirement”
      shall mean retirement or earlier voluntary termination or departure from
      Service; and

    

    “Service”
      shall mean employment or engagement as an employee, director or consultant
      within the Global Sources Network.

    

     

    
      	
              4.2

            	
              Each
                Eligible Person shall be eligible to receive awards of Shares under
                the
                Plan, upon his/her Retirement. The Plan Committee shall select and
                determine (in its sole and absolute discretion) which Eligible Persons
                shall receive awards of Shares (the persons receiving such awards
                of
                Shares being hereinafter referred to collectively as the
                “Grantees” and individually as a
                “Grantee”).

            

    

     

    
      	
              4.3

            	
              The
                number of Shares to be awarded to a Grantee (“Awarded
                Shares”), upon his/her Retirement, shall be calculated at a rate
                of twenty per cent (20%) of the total number of his/her Other Forfeited
                Shares (at the time of the Grantee’s Retirement) for each year of
                completed Service (at the time of the Grantee’s Retirement) over five (5)
                years and up to a maximum of ten (10) years. Such Awarded Shares
                shall not
                vest immediately upon the award thereof, but (subject to the provisions
                of
                Section 7) shall vest in accordance with the vesting schedule set
                out in
                Schedule 2.

            

    

     

    4.4           For
      the avoidance of doubt:

     

    
      	
               

            	
              (a)

            	
              if
                a Global Sources Team Member’s Service with a particular Global Sources
                Network company (“Original Company”) ceases, by virtue of
                a transfer of his/her Service from the Original Company to another
                Global
                Sources Network company, then his/her cessation of Service with
                the

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    Original
      Company shall not be deemed to constitute a Retirement, and Retirement shall
      only be deemed to have occurred if he/she ceases to be employed or engaged
      by
      any Global Sources Network company whatsoever; and

     

    
      	
               

            	
              (b)

            	
              the
                number of years of completed Service shall be calculated on the basis
                of
                consolidating and aggregating all years of completed Service with
                all
                applicable Global Sources Network
                companies.

            

    

     

    5.           Non-transferability

    

    5.1           Any
      Shares awarded under the Plan shall be non-transferable except in accordance
      with the provisions of Section 7.1(a)(i) hereof or paragraph 1 of Schedule
      1
      hereto.

     

    6.           Adjustments

    

    6.1           If
      the outstanding Shares then subject to the Plan are changed into or exchanged
      for a different number or kind of shares or securities, as a result of one
      or
      more reorganisations, recapitalisations, stock splits, reverse stock splits,
      stock dividends and the like, appropriate adjustments shall be made in the
      number and/or type of the outstanding Shares as shall be directed by the Plan
      Committee.  Any such adjustment in outstanding Shares shall be made in
      order to preserve, but not to increase or decrease, the benefits to the Grantees
      existing immediately prior to the event giving rise to such
      adjustment.

     

    7.           Vesting
      of Shares

    

    
      	
              7.1

            	
              Provided
                that the Grantee is "in good standing" (which definition
                shall be at the sole and absolute discretion of the Plan Committee)
                at the
                time of the award and remains in good standing at the time of vesting,
                Shares awarded under the Plan shall vest in the Grantee in accordance
                with
                the vesting schedule set out in Schedule 2, subject to the
                following:

            

    

    

    
      	
              a)  

            	
              In
                the case of every Share awarded
                hereunder:

            

    

    

    
      	
              (i)  

            	
              if,
                before all the Awarded Shares are vested in accordance with Schedule
                2, a
                Grantee shall die, then all Awarded Shares which have not yet vested
                at
                the time of death shall immediately vest, and the person or persons
                to
                whom the Grantee’s rights to the Awarded Shares shall have lawfully
                passed, whether by will, by the applicable laws of succession or
                otherwise, shall be entitled receive such Awarded Shares;
                or

            

    

    

    
      	
              (ii)  

            	
              if, before
                all the Awarded Shares are vested in accordance with Schedule 2,
                a Grantee
                shall become a director, officer or employee of, or a consultant
                or
                advisor to, or an independent contractor of, a Competitor (or any
                parent,
                subsidiary or affiliate thereof); or he/she ceases to be of “good
                standing” (the definition and determination of shall be at the sole and
                absolute discretion of the Plan Committee); or he/she does anything,
                or
                conducts himself/herself in a manner, which is prejudicial to any
                Global
                Sources Network company (as determined by the Plan Committee in its
                sole
                and absolute discretion); or for any other reason (as determined
                by the
                Plan Committee in its sole and absolute discretion); then all the
                Awarded
                Shares which have not yet vested at the time of such occurrence and
                which
                are held by the Trustee for the Grantee may (at the sole and absolute
                discretion of the Plan Committee) be forfeited to the Trust, in which
                event all such forfeited Shares shall be available for further grant
                under
                the Plan.

            

    

    

    For
      the
      purposes hereof, the definition of “Competitor” shall be as
      determined by the Plan Committee (in its sole and absolute discretion), and
      such
      determination shall be final and binding upon the Grantee and his/her
      successor(s).

    

    
      	
              (b)

            	
              All
                Awarded Shares, when vested and issued to a Grantee, shall rank pari
                passu in all respects with other Shares of the Company of the same
                class, including the right for the holder thereof to receive dividends
                (if

            

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
      	
               

            	
              any);
                provided however that (for the avoidance of doubt), unless and until
                Awarded Shares are actually vested and issued to a Grantee, the Grantee
                shall not be entitled to receive any dividends thereon or to have
                any
                voting rights therein.

            

    

    

    8.           Plan
      Duration

    

    
      	
              8.1

            	
              This
                Plan shall commence with effect from the Commencement Date (as defined
                in
                Section 14.1) and shall terminate
                upon:-

            

    

    

    
      	
               

            	
              (a)

            	
              the
                expiration or termination of the Master Plan;
                or

            

    

    

    
      	
               

            	
              (b)

            	
              the
                termination of this Plan in accordance with the provisions of Section
                10.1
                or Section 13.1 hereof,

            

    

    

    
      	
               

            	
              whichever
                is the earliest to occur.

            

    

    

    
      	
              8.2

            	
              Shares
                may not be awarded after the Plan is terminated; provided that (for
                the
                avoidance of doubt) if the terms of any award made prior to the
                termination date of the Plan provide for the vesting of Shares thereunder
                to occur upon or after such termination date, then such award and
                the
                vesting of Shares thereunder shall not be prejudiced by the termination
                of
                the Plan.

            

    

    

    9.           Administration

    

    
      	
              9.1

            	
              The
                Plan shall be managed and administered by the Trustee, subject always
                to
                the directions of the Plan Committee as provided under the Trust
                Document.

            

    

    

    
      	
              9.2

            	
              The
                interpretation and construction by the Plan Committee of any of the
                provisions of the Plan or of any Grants awarded hereunder shall be
                final
                and binding upon Grantees and their respective
                successors.

            

    

    

    
      	
              9.3

            	
              The
                Plan Committee may, from time to time, adopt further rules and regulations
                for carrying out the Plan and, subject to the provisions of the Plan
                and
                the directions and approval of the Plan Committee, the Trustee may
                issue a
                certificate in the form set out in the Annex to the Plan or such
                other
                form or forms of the instruments evidencing Shares awarded under
                the Plan
                as may be prescribed or approved by the Plan
                Committee.

            

    

    
      	
              9.4

            	
              Subject
                to the provisions of the Plan, the Plan Committee shall have full
                and
                final authority (in its sole and absolute
                discretion):

            

    

    

    
      	
               

            	
              (a)

            	
              to
                determine (from amongst Eligible Persons) the Grantees to be awarded
                Shares;

            

    

    

    (b)           to
      determine the number of Shares to be awarded;

    

    (c)           to
      determine the terms of award, including any vesting provisions;

    

    
      	
               

            	
              (d)

            	
              to
                determine such other terms and provisions of award as it may authorise
                at
                the time when each Share is awarded (each of which terms and provisions
                may be different for each award);
                and

            

    

    

    
      	
               

            	
              (e)

            	
              to
                amend the terms of any existing award to accelerate the time or times
                at
                which Shares awarded under the Plan, or any part thereof, shall become
                vested, or in any other respect which shall not adversely affect
                the
                rights of the Grantee of such award of
                Shares.

            

    

    

    
      	
              9.5

            	
              In
                the event any Global Sources Team Member considers, following Retirement,
                that his/her participation in the Plan has been unreasonably withheld
                as a
                result of an unreasonable exercise of discretion on the part of the
                Plan
                Committee, such Global Sources Team Member shall be entitled to request
                that the designated management board of the Company (“Management
                Board”) reviews such decision and that it makes recommendations
                to

            

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    the
      Plan
      Committee accordingly. The Management Board of the Company shall have sole
      and
      absolute discretion as to whether or not to entertain such request and/or
      whether to make such recommendations (and if so, what recommendations to make,
      if any). Any decision and determination of the Management Board of the Company
      in connection therewith, and/or of the Plan Committee pursuant to
      recommendations made by the Management Board of the Company (if any), shall
      be
      final and there shall be no further rights of appeal in respect
      thereof.

    

    
      	
              9.6

            	
              The
                Trustee, the Plan Committee, the Board of Directors of the Company,
                the
                Management Board of the Company and the Company shall not be liable
                for
                any action taken, or any determination made, in good faith, in connection
                with the Plan.

            

    

    

    
      	
              9.7

            	
              The
                Company or its Board of Directors may delegate any of its powers,
                rights,
                duties and/or responsibilities under the Plan to the Plan Committee,
                who
                may discharge the same with the authority and in the place and stead
                of
                the Company or its Board of Directors (as the case may
                be).

            

    

    

    10.           Terminating
      Transactions

    

    
      	
              10.1

            	
              Upon
                the occurrence of a Terminating Transaction, as hereinafter defined,
                the
                Plan shall automatically terminate. Upon the happening of a Terminating
                Transaction and the corresponding termination of the Plan, any Awarded
                Shares which have not yet vested (at the time of the Terminating
                Transaction and the corresponding termination of the Plan) shall
ipso
                facto become vested in the respective
                Grantees.

            

    

    

    
      	
              10.2

            	
              “Terminating
                Transaction” shall mean such transaction or proceedings,
                resulting (whether at the time of, or upon the conclusion of, such
                transaction or proceedings) in the liquidation of the Company, as
                the Plan
                Committee shall in its sole and absolute discretion
                determine.

            

    

    

    11.           Government
      Regulations

    

    
      	
              11.1

            	
              The
                Trustee shall not issue any Awarded Shares upon the vesting thereof,
                unless and until all licences, permissions and authorisations required
                to
                be granted by the Government of Bermuda, or by any authority or agency
                thereof, shall have been duly
                received.

            

    

    

    12.           Costs
      and Expenses

    

    
      	
              12.1

            	
              All
                costs and expenses with respect to the adoption of the Plan and in
                connection with the registration of Shares shall be borne by the
                Company;
                provided, however, that (except as otherwise specifically provided
                in the
                Plan or in any agreement between the Company and a Grantee), the
                Company
                shall not be obliged to pay or be otherwise responsible for any costs
                or
                expenses (including but not limited to any legal fees) incurred by
                any
                Grantee, or any brokerage, service or other fees, charges, costs
                or
                expenses due or payable, or any taxes which may be due or payable,
                upon or
                in connection with any award of Shares or any Awarded Shares, and/or
                the
                vesting or issuance of Awarded Shares, and/or the holding or transfer
                of
                any Awarded Shares by any Grantee.

            

    

    

    
      	
              12.2

            	
              All
                Shares awarded to a Grantee shall be denominated in United States
                Dollars
                only, and any currency exchange gains and/or losses relating to such
                Awarded Shares during the vesting period shall be borne solely by
                the
                Grantee concerned.

            

    

    

    13.           Amendment
      or Termination of the Plan

    

    
      	
              13.1

            	
              The
                Plan Committee (acting in its sole and absolute discretion) may alter,
                amend, suspend or terminate the Plan; provided however that, except
                as
                otherwise provided in the Plan, no such action shall deprive any
                Grantee,
                without his/her consent, of any his/her rights under an award of
                Shares
                already made to the Grantee pursuant to the
                Plan.

            

    

    

    
      	
              13.2

            	
              No
                amendment of this Plan shall increase the duties and/or responsibilities
                of the Trustee without its
                consent.

            

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    

    14.           Effective
      Date of this Plan

    

    
      	
              14.1

            	
              This
                Plan shall be deemed to commence with effect from 6 March 2007
                (“Commencement
                Date”).

            

    

    

    15.           Limitation
      of
      Liability

     

    
      	
              15.1

            	
              No
                member of the Board of Directors of the Company, the Management Board
                of
                the Company or the Plan Committee, or any person authorised to act
                on
                their behalf, shall be personally liable for any action, determination
                or
                interpretation taken or made in good faith with respect to the Plan, and
                all members of the Board of Directors of the Company, the Management
                Board
                of the Company or the Plan Committee, and each and any person authorised
                to act on their behalf, shall, to the extent permitted by law, be
                fully
                indemnified and protected by the Company in respect of any such action,
                determination or interpretation.

            

    

     

    16.           Governing
      Law and Jurisdiction

    

    
      	
              16.1

            	
              This
                Plan shall be governed by
                and interpreted and construed in accordance with the laws of Bermuda;
                and
                the Company, the Trustee and the Plan Committee (and its members),
                and
                each Grantee, hereby irrevocably submits to the exclusive jurisdiction
                of
                the courts of Bermuda.

            

    

    

    
      	
              17.

            	
              Status
                of the Plan

            

    

    

    
      	
              17.1

            	
              This
                Plan shall be subject and subordinate to the Master Plan, and in
                the event
                of any conflict or inconsistency between the provisions of this Plan
                and
                the provisions of the Master Plan, the provisions of the Master Plan
                shall
                prevail (but only to the extent of such conflict or
                inconsistency).

            

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    

    ANNEX
      – FORM OF SHARE AWARD CERTIFICATE

    

    

    THIS
      DOCUMENT IS IMPORTANT AND SHOULD BE KEPT IN A SAFE PLACE

     

    GLOBAL
      SOURCES LTD.

    

    SHARE
      AWARD CERTIFICATE

     

    THE
      GLOBAL SOURCES RETENTION SHARE GRANT PLAN

     

    THIS
      IS TO CERTIFY that, on the date shown below, a grant of Shares was
      awarded to the Grantee named below, subject to the provisions of the
      above-mentioned Plan, as amended from time to time and to the Rules made
      pursuant thereto for the time being in force, to receive the number of common
      shares of US$0.01 each in the capital of Global Sources Ltd. specified
      below.

     

     

    
      

      
        	
                Grantee:  Name:

              	 	 	 
	 	 	 	 
	
                Address:

              	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	
                Date
                  of Award:

              	 	 	 
	 	 	 	 
	
                Vesting
                  Dates and amounts

              	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	
                Number
                  of Shares:

              	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	
                For
                  and on behalf of the Trustee

              
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 

      

       

    

     

    
       

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    

    SCHEDULE
      1

     

    

    CERTAIN
      OTHER CONDITIONS RELATING TO THE AWARD OF SHARES

    

     

    Upon
      the
      awarding of Shares to the Grantee, such Awarded Shares shall not vest in the
      Grantee, but shall be held by the Trustee for the Grantee subject to the
      following provisions and in accordance with the provisions of Schedule
      2:

     

    
      	
              1.  

            	
              The
                Grantee can direct the Trustee to transfer the Awarded Shares, upon
                the
                vesting thereof, to the Grantee or to such person as the Grantee
                directs.

            

    

     

    
      	
              2.  

            	
              No
                loans shall be made to a Grantee against the award of Shares under
                this
                Plan.

            

    

     

    
      	
              3.  

            	
              Awarded
                Shares which have not yet vested under this Plan cannot be committed
                as
                collateral.

            

    

     

    
      	
              4.  

            	
              It
                is the responsibility of the Grantee to ensure that he/she may participate
                in this Plan under the laws of his/her
                jurisdiction.

            

    

     

    
      	
              5.  

            	
              All
                disputes regarding this Plan shall be referred to the Plan Committee
                for
                resolution, and its decision shall be final and
                binding.

            

    

     

    

     

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    SCHEDULE
      2

     

    

    VESTING
      SCHEDULE

    

    
      	
              1.

            	
              Awarded
                Shares shall not automatically vest in a Grantee upon the award thereof,
                but (subject to the provisions of Section 7 of the Plan) shall vest
                over a
                period of five (5) years after the Grantee’s Retirement, in accordance
                with the vesting schedule set out
                below.

            

    

     

    

     

    
      	 	
              1 year
                after Retirement

            	
              2
                years after Retirement

            	
              3
                years after Retirement

            	
              4
                years after Retirement

            	
              5
                years after Retirement

            
	
              Percentage
                of the Awarded Shares which vests

            	
               

              20%

               

            	
              An
                additional

              20%

            	
              An
                additional

              20%

            	
              An
                additional

              20%

            	
              An
                additional

              20%

            

    

    

    
      	
              2.

            	
              Any
                fractional number of Shares resulting from the above percentage
                calculation shall be rounded up to the nearest whole
                Share.

            

    

    

    
      	
              3.

            	
              The
                rights to Awarded Shares acquired by a Grantee under the Plan are
                not
                transferable, except in accordance with Section 7.1(a)(i) of the
                Plan or
                paragraph 1 of Schedule 1 to the
                Plan.

            

    

    4.           Sample
      Calculations:

    By
      way of
      an example, if the Grantee has had twenty (20) completed years of Service,
      and
      at the time of his/her Retirement he/she has twenty-two thousand and five
      hundred (22,500) Other Forfeited Shares, then the number of Shares to be awarded
      to the Grantee shall be calculated as follows:

    

    20%
      of
      his/her Other Forfeited Shares per year of completed Service,

    for
      the
      6th and up
      to
      the 10th year
      of completed Service

    

    =           20%
      per year x 22,500 Other Forfeited Shares x 5 years

    

    =          
      22,500
      Awarded Shares(which
      shall not vest immediately upon the award thereof, but (subject to the
      provisions of Section 7) shall vest in accordance with the vesting schedule
      set
      out in Schedule 2)

     

    By
      way of
      another example, if the Grantee has had seven (7) completed years of Service,
      and at the time of his/her Retirement he/she has six thousand (6,000) Other
      Forfeited Shares, then the number of Shares to be awarded to the Grantee shall
      be calculated as follows:

    

    20%
      of
      his/her Other Forfeited Shares per year of completed Service,

    for
      the
      6th and 7th
      year of completed
      Service

    

    =           20%
      per year x 6,000 Other Forfeited Shares x 2 years

    

                   
      =           2,400
      Awarded Shares(which
      shall not vest immediately upon the award thereof, but (subject to the
      provisions of Section 7) shall vest in accordance with the vesting schedule
      set
      out in this Schedule 2)

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