Document:

f8k1209ex10vi_convenant.htm

    Exhibit
10.6

     

     

    $190,000
PROMISSORY NOTE

     

    
      
      

    

    
      	 $190,000 	 Philadelphia,
      Pennsylvania

    

     

     December
24, 2009

     

    FOR VALUE
RECEIVED, the undersigned COVENANT GROUP HOLDINGS INC., a corporation
incorporated under the laws of the State of Delaware and its principal place of
business at 137 North 11th
Street, Philadelphia, Pennsylvania 19107, USA ("Maker"), hereby promises to pay
to the order of GARY SIDHU ("Payee"), in immediately available funds by cashiers
check or wire transfer to Payee as Payee may designate the principal sum of
One-Hundred Ninety Thousand Dollars ($190,000), payable as set forth
below.

     

    The
entire principal balance will be payable in full ninety days from the date of
this note (the "Note").  No interest is due on payment of such
principal.

     

    This Note
may be prepaid at any time, in whole or in part, without interest, penalty or
premium of any kind.

     

    If any
payment of principal on this Note shall become due on a day which is a Saturday,
Sunday or holiday, such payment shall be made on the next succeeding business
day.

     

    Maker
hereby waives presentment for payment, demand, notice of nonpayment or dishonor,
protest and notice of protest.

     

    No delay
or omission on the part of Payee or any holder hereof in exercising its rights
under this Note, or course of conduct relating thereto, shall operate as a
waiver of such rights or any other right of Payee or any holder hereof, nor
shall any waiver by Payee or any holder hereof of any such right or rights on
any one occasion be deemed a bar to, or waiver of, the same right or rights on
any future occasion.

     

    
      
        
        

      

      
        E-1

        
          

        

      

      
        
        

      

    

     

    Maker
shall pay Payee on demand any reasonable out-of-pocket expenses (including
reasonable legal fees) arising out of or in connection with any action or
proceeding (including any action or proceeding arising in or related to any
insolvency, bankruptcy or reorganization involving or affecting Maker) taken to
protect, enforce, determine or assert any right or remedy under this
Note.

     

    This Note
shall bind Maker and the heirs and assigns of Maker, and the benefits hereof
shall inure to the benefit of Payee and the heirs and assigns of
Payee.  All references herein to "Maker" shall be deemed to apply to
Maker and its heirs and assigns, and all references herein to "Payee" shall be
deemed to apply to Payee and his heirs and assigns.

     

    This Note
and the rights and obligations of the parties hereto shall for all purposes be
governed by and construed and enforced in accordance with the substantive law of
the Commonwealth of Pennsylvania without giving effect to principles of conflict
of laws.

     

    IN
WITNESS WHEREOF, Maker, intending to be legally bound, has executed this Note as
of the date and year first above written with the intention that this Note shall
constitute a sealed instrument.

     

    COVENANT GROUP HOLDINGS
INC.

     

    
      	
               
      

            	
              By
      /s/ Kenneth
      Wong

            

    

     

              Kenneth
Wong, its President

     

    

     

     

    E-2cvilla_ex10-1.htm

    

     

    

     

    

     

    _____________________________________________________

     

    AGREEMENT
OF MERGER AND

     

    PLAN
OF REORGANIZATION

     

    _____________________________________________________

     

    BY
AND AMONG

     

    CARIBBEAN
VILLA CATERING CORPORATION

     

    GLOBOTEK
ACQUISITION CORP.

     

    and

     

    CJSC
GLOBOTEK

     

    

     

    

     

    

     

    

     

    Dated as
of December 31, 2009

     

    

     

    

     

    

     

    
      
         

      

      
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    AGREEMENT
OF MERGER AND PLAN OF REORGANIZATION

     

    THIS
AGREEMENT OF MERGER AND PLAN OF REORGANIZATION (this “Agreement”) is made
and entered into on December 31, 2009, by and among Caribbean Villa Catering
Corporation, a Nevada corporation (“Parent”), Globotek
Acquisition Corp., a Nevada corporation (“Acquisition Corp.”),
which is a wholly-owned subsidiary of Parent, and CJSC Globotek, a closed joint
stock company formed pursuant to the laws of the Russian Federation (the “Company”).

     

    W I T N E
S S E T H :

     

    WHEREAS,
the Board of Directors of each of Acquisition Corp., Parent and the Company have
each determined that it is fair to and in the best interests of their respective
corporations and stockholders for Acquisition Corp. to be merged with and into
the Company (the “Merger”) upon the
terms and subject to the conditions set forth herein;

     

    WHEREAS,
the Board of Directors of each of Parent, Acquisition Corp. and the Company have
approved the Merger in accordance with the Nevada Revised Statutes (the “NRS”), the laws of
the Russian Federation and upon the terms and subject to the conditions set
forth herein, in the Nevada Articles of Merger attached as Exhibit A hereto (the
“Articles of
Merger”);

     

    WHEREAS,
the requisite stockholders of the Company (the “Stockholders”) and
Parent have each approved this Agreement, the Articles of Merger, and the
transactions contemplated and described hereby and thereby, including, without
limitation, the Merger, and Parent, as the sole stockholder of Acquisition
Corp., has approved by written consent pursuant to Section 78.320 of the NRS,
this Agreement, the Articles of Merger and the transactions contemplated and
described hereby and thereby, including, without limitation, the Merger;
and

     

    WHEREAS,
the parties hereto intend that the Merger contemplated herein shall qualify as a
reorganization within the meaning of Section 368(a)(1)(A) of the Internal
Revenue Code of 1986, as amended (the “Code”), by reason of
Section 368(a)(2)(E) of the Code.

     

    NOW,
THEREFORE, in consideration of the mutual agreements and covenants hereinafter
set forth, the parties hereto agree as follows:

     

    ARTICLE
I.

     

    THE
MERGER

     

    Section
1.01                      Merger.  Subject
to the terms and conditions of this Agreement, the Articles of Merger,
Acquisition Corp. shall be merged with and into the Company in accordance with
Section 92A.200 of the NRS. At the Effective Time (as defined below), the
separate legal existence of Acquisition Corp. shall cease, and the Company shall
be the surviving corporation in the Merger (sometimes hereinafter referred to as
the “Surviving
Corporation”) and shall continue its corporate existence under the laws
of the Russian Federation  under the name CJSC
Globotek".”

     

    
      
         

      

      
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    Section
1.02                      Effective
Time.  The Merger shall become effective upon the filing of the
Articles of Merger with the Secretary of State of the State of Nevada in
accordance with Section 92A.200 of the NRS. The time at which the Merger shall
become effective as aforesaid is referred to hereinafter as the “Effective
Time.”

     

    Section
1.03                      Closing. The closing
of the Merger (the “Closing”) shall occur
concurrently with the Effective Time (the “Closing Date”). The
Closing shall occur at the offices of Sichenzia Ross Friedman Ference LLP
referred to in Section 10.01 hereof. At the Closing, all of the documents,
certificates, agreements, opinions and instruments referenced in Article VII
will be executed and delivered as described therein. At the Effective Time, all
actions to be taken at the Closing shall be deemed to be taken
simultaneously.

     

    Section
1.04                      Charter, Directors and
Officers.

     

    (a)           The
Charter of the Acquisition Corp., as in effect immediately prior to the
Effective Time, attached as Exhibit B hereto,
shall be the Charter of the Surviving Corporation from and after the Effective
Time until amended in accordance with applicable law and such
Charter.

     

    (b)           Reserved.

     

    (c)           The
directors and officers listed in Exhibit E hereto
shall be the directors and officers of the Surviving Corporation and Parent, and
each shall hold his or her respective office or offices from and after the
Effective Time until his or her successor shall have been elected and shall have
qualified in accordance with applicable law, or as otherwise provided in the
Charter or By-Laws of the Surviving Corporation or the Articles of Incorporation
or By-Laws of Parent, as the case may be.  The By-Laws of the
Acquisition Corp. are and shall continue to be the By-Laws of the Surviving
Corporation.

     

    Section
1.05                      Assets and
Liabilities. At the Effective Time, the Surviving Corporation shall
possess all the rights, privileges, powers and franchises of a public as well as
of a private nature, and be subject to all the restrictions, disabilities and
duties of each of Acquisition Corp. and the Company (collectively, the “Constituent
Corporations”); and all the rights, privileges, powers and franchises of
each of the Constituent Corporations, and all property, real, personal and
mixed, and all debts due to any of the Constituent Corporations on whatever
account, as well as all other things in action or belonging to each of the
Constituent Corporations, shall be vested in the Surviving Corporation; and all
property, rights, privileges, powers and franchises, and all and every other
interest shall be thereafter as effectively the property of the Surviving
Corporation as they were of the several and respective Constituent Corporations,
and the title to any real estate vested by deed or otherwise in either of such
Constituent Corporations shall not revert or be in any way impaired by the
Merger; but all rights of creditors and all liens upon any property of any of
the Constituent Corporations shall be preserved unimpaired, and all debts,
liabilities and duties of the Constituent Corporations shall thenceforth attach
to the Surviving Corporation, and may be enforced against it to the same extent
as if said debts, liabilities and duties had been incurred or contracted by
it.

     

    
      
         

      

      
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    Section
1.06                      Manner and Basis of
Converting Shares.

     

    (a)           At
the Effective Time:

     

    (i)           each
share of common stock, par value $0.001 per share of Acquisition Corp. that
shall be outstanding immediately prior to the Effective Time shall, by virtue of
the Merger and without any action on the part of the holder thereof, be
converted into the right to receive one (1) share of common stock, no par value,
of the Surviving Corporation, so that at the Effective Time, Parent shall be the
holder of all of the issued and outstanding shares of the Surviving
Corporation;

     

    (ii)           each
share of common stock, without par value, of the Company (the “Company Common
Stock”) beneficially owned by the Stockholders listed on Schedule 1.06(a)(ii)
(other than (A) shares of Company Common Stock as to which appraisal rights are
perfected pursuant to the applicable provisions of the laws of the Russian
Federation and not withdrawn or otherwise forfeited and (B) each share of
Company Common Stock set forth in Sections 1.06(a)(iii) hereof), shall, by
virtue of the Merger and without any action on the part of the holders thereof,
be converted into the right to receive Four Hundred Thousand n (400,000) of
common stock, par value $0.001 per share, of Parent, or an aggregate of
40,000,000 shares (the “Parent Common
Stock”), with fractional shares of Parent Common Stock rounded up or down
to the nearest whole share; and

     

    (iii)           each
share of Company Common Stock held in the treasury of the Company immediately
prior to the Effective Time shall be cancelled in the Merger and cease to
exist.

     

    (b)           After
the Effective Time, there shall be no further registration of transfers on the
stock transfer books of the Surviving Corporation of the shares of Company
Common Stock that were outstanding immediately prior to the Effective
Time.

     

    Section
1.07                      Surrender and Exchange of
Certificates.

     

    (a)           Promptly
after the Effective Time and upon (a) surrender of a certificate or certificates
representing shares of Company Common Stock that were outstanding immediately
prior to the Effective Time or an affidavit and indemnification in form
reasonably acceptable to counsel for Parent stating that such Stockholder has
lost its certificate or certificates or that such have been destroyed and (b)
delivery of a Letter of Transmittal (as described in Article IV hereof), Parent
shall issue to each record holder of Company Common Stock surrendering such
certificate, certificates or affidavit and Letter of Transmittal, a certificate
or certificates registered in the name of such Stockholder representing the
number of shares of Parent Common Stock that such Stockholder shall be entitled
to receive as set forth in Sections 1.06(a)(ii) hereof. Until the certificate,
certificates or affidavit is or are surrendered together with the Letter of
Transmittal as contemplated by this Section 1.07 and Article IV hereof, each
certificate or affidavit that immediately prior to the Effective Time
represented any outstanding shares of Company Common Stock shall be deemed at
and after the Effective Time to represent only the right to receive upon
surrender as aforesaid the Parent Common Stock specified in Schedule 1.06(a)(ii)
for the holder thereof or to perfect any rights of appraisal that such holder
may have pursuant to the applicable provisions of the laws of the Russian
Federation.

     

    
      
         

      

      
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    Section
1.08                      Parent
Stock.  Parent agrees that it will cause the Parent Common
Stock into which the Company Common Stock is converted at the Effective Time
pursuant to Sections 1.06(a)(ii) to be available for such purposes. Parent
further covenants that immediately following the Effective Time, there will be
no more than 24,800,000 pre-Merger shares of Parent Common Stock issued and
outstanding, and that no other pre-Merger common or preferred stock or equity
securities or any options, warrants, rights or other agreements or instruments
convertible, exchangeable or exercisable into common or preferred stock or other
equity securities shall be issued or outstanding, except as described
herein.  

     

    Section
1.09                      Operation of Surviving
Corporation.  The Company acknowledges that upon the
effectiveness of the Merger, and the material compliance by Parent and
Acquisition Corp. with their respective duties and obligations hereunder, Parent
shall have the absolute and unqualified right to deal with the assets and
business of the Surviving Corporation as its own property without limitation on
the disposition or use of such assets or the conduct of such
business.

     

    Section
1.10                      Further
Assurances.  From time to time, from and after the Effective
Time, as and when reasonably requested by Parent, the proper officers and
directors of the Company as of the Effective Time shall, for and on behalf and
in the name of the Company or otherwise, execute and deliver all such deeds,
bills of sale, assignments and other instruments and shall take or cause to be
taken such further actions as Parent, Acquisition Corp. or their respective
successors or assigns reasonably may deem necessary or desirable in order to
confirm or record or otherwise transfer to the Surviving Corporation title to
and possession of all of the properties, rights, privileges, powers, franchises
and immunities of the Company or otherwise to carry out fully the provisions and
purposes of this Agreement and the Articles of Merger.

     

    ARTICLE
II.

     

    REPRESENTATIONS
AND WARRANTIES OF THE COMPANY

     

    The
Company hereby represents and warrants to Parent and Acquisition Corp. as
follows. Notwithstanding anything to the contrary contained herein, disclosure
of items in the draft Current Report on Form 8-K of Parent with respect to the
Merger, and all exhibits thereto, a copy of which is attached hereto as Exhibit E
(collectively, the “Disclosures”) shall
be deemed to be disclosure of such items for all purposes under this Agreement,
including, without limitation, for all applicable representations and warranties
of the Company:

     

    Section
2.01                      Organization, Standing,
Subsidiaries, Etc.

     

    (a)           The
Company is a corporation duly organized and existing in good standing under the
laws of the Russian Federation and has all requisite power and authority
(corporate and other) to carry on its business, to own or lease its properties
and assets, to enter into this Agreement and the Articles of Merger and to carry
out the terms hereof and thereof. Copies of the Charter of the Company that have
been delivered to Parent and Acquisition Corp. prior to the execution of this
Agreement are true and complete and have not since been amended or
repealed.

     

    
      
         

      

      
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    (b)           The
Company has no subsidiaries or direct or indirect interest (by way of stock
ownership or otherwise) in any firm, corporation, limited liability company,
partnership, association or business.

     

    Section
2.02                      Qualification.  The
Company is duly qualified to conduct business as a foreign corporation and is in
good standing in each jurisdiction wherein the nature of its activities or its
properties owned or leased makes such qualification necessary, except where the
failure to be so qualified would not have a material adverse effect on the
condition (financial or otherwise), properties, assets, liabilities, business
operations, results of operations or prospects of the Company taken as a whole
(the “Condition of the
Company”).

     

    Section
2.03                      Capitalization of the
Company.  The authorized capital stock of the Company consists
of 100 shares of Company Common Stock, of which there are 100 shares of Company
Common Stock issued and outstanding, and such shares are duly authorized,
validly issued, fully paid and non-assessable, and none of such shares have been
issued in violation of the preemptive rights of any natural person, corporation,
business trust, association, limited liability company, partnership, joint
venture, other entity, government, agency or political subdivision (each, a
“Person”). The
offer, issuance and sale of such shares of Company Common Stock were (a) exempt
from the registration and prospectus delivery requirements of the Securities Act
of 1933, as amended (the “Securities Act”), (b)
registered or qualified (or were exempt from registration or qualification)
under the registration or qualification requirements of all applicable state
securities laws and (c) accomplished in conformity with all other applicable
securities laws. None of such shares of Company Common Stock are subject to a
right of withdrawal or a right of rescission under any federal or state
securities or “Blue Sky” law. Except as otherwise set forth in this Agreement or
any Schedule hereto, the Company has no outstanding options, rights or
commitments to issue Company Common Stock or other Equity Securities (as defined
below) of the Company, and there are no outstanding securities convertible or
exercisable into or exchangeable for Company Common Stock or other Equity
Securities of the Company. For purposes of this Agreement, “Equity Security”
shall mean any stock or similar security of an issuer or any security (whether
stock or Indebtedness for Borrowed Money (as defined below)) convertible, with
or without consideration, into any stock or other equity security, or any
security (whether stock or Indebtedness for Borrowed Money) carrying any warrant
or right to subscribe to or purchase any stock or similar security, or any such
warrant or right.

     

    Section
2.04                      Indebtedness.  Except
for what is set forth on Schedule 2.04, the Company has no Indebtedness for
Borrowed Money. For purposes of this Agreement, “Indebtedness for Borrowed
Money” shall mean (a) all Indebtedness in respect of money borrowed
including, without limitation, Indebtedness that represents the unpaid amount of
the purchase price of any property and is incurred in lieu of borrowing money or
using available funds to pay such amounts and not constituting an account
payable or expense accrual incurred or assumed in the ordinary course of
business of the Company, (b) all Indebtedness evidenced by a promissory note,
bond or similar written obligation to pay money or (c) all such Indebtedness
guaranteed by the Company or for which the Company is otherwise contingently
liable. Furthermore, for purposes of this Agreement, “Indebtedness” shall
mean any obligation of the Company which, under generally accepted accounting
principles in the United Stated (“GAAP”), is required
to be shown on the balance sheet of the Company as a liability. Any obligation
secured by a mortgage, pledge, security interest, encumbrance, lien or charge of
any kind (a “Lien”), shall be
deemed to be Indebtedness, even though such obligation is not assumed by the
Company.

     

    
      
         

      

      
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    Section
2.05                      Company
Stockholders.  Schedule 2.05 hereto
contains a true and complete list of the names of the record owners of all of
the outstanding shares of Company Common Stock and other Equity Securities of
the Company, together with the number of securities held or to which such Person
has rights to acquire. To the knowledge of the Company, there is no voting
trust, agreement or arrangement among any of the beneficial holders of Company
Common Stock affecting the nomination or election of directors or the exercise
of the voting rights of Company Common Stock.

     

    Section
2.06                      Corporate Acts and
Proceedings.  The execution, delivery and performance of this
Agreement  and the Articles of Merger (together, the “Merger Documents”)
have been duly authorized by the Board of Directors of the Company and have been
approved by the requisite vote of the Stockholders, and all of the corporate
acts and other proceedings required for the due and valid authorization,
execution, delivery and performance of the Merger Documents and the consummation
of the Merger have been validly and appropriately taken, except for the filings
referred to in Section 1.02.

     

    Section
2.07                      Governmental
Consents.  All material consents, approvals, orders, or
authorizations of, or registrations, qualifications, designations, declarations,
or filings with any governmental authority on the part of the Company required
in connection with the consummation of the Merger shall have been obtained prior
to, and be effective as of, the Closing.

     

    Section
2.08                      Compliance with Laws and
Instruments.  The business, products and operations of the
Company have been and are being conducted in compliance in all material respects
with all applicable laws, rules and regulations, except for such violations
thereof for which the penalties, in the aggregate, would not have a material
adverse effect on the Condition of the Company. The execution, delivery and
performance by the Company of the Merger Documents and the consummation by the
Company of the transactions contemplated by this Agreement: (a) will not cause
the Company to violate or contravene (i) any provision of law, (ii) any rule or
regulation of any agency or government, (iii) any order, judgment or decree of
any court, or (iv) any provision of the Charter of the Company, (b) will not
violate or be in conflict with, result in a breach of or constitute (with or
without notice or lapse of time, or both) a default under, any indenture, loan
or credit agreement, deed of trust, mortgage, security agreement or other
contract, agreement or instrument to which the Company is a party or by which
the Company or any of its properties is bound or affected, except as would not
have a material adverse effect on the Condition of the Company and (c) will not
result in the creation or imposition of any Lien upon any property or asset of
the Company. The Company is not in violation of, or (with or without notice or
lapse of time, or both) in default under, any term or provision of its Charter
or of any indenture, loan or credit agreement, deed of trust, mortgage, security
agreement or, except as would not materially and adversely affect the Condition
of the Company, any other material agreement or instrument to which the Company
is a party or by which the Company or any of its properties is bound or
affected.

     

    Section
2.09                      Binding
Obligations.  The Merger Documents constitute the legal, valid
and binding obligations of the Company and are enforceable against the Company
in accordance with their respective terms, except as such enforcement is limited
by bankruptcy, insolvency and other similar laws affecting the enforcement of
creditors’ rights generally and by general principles of equity.

     

    
      
         

      

      
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    Section
2.10                      Broker’s and Finder’s
Fees. No Person has, or as a result of the transactions contemplated or
described herein will have, any right or valid claim against the Company,
Parent, Acquisition Corp. or any Stockholder for any commission, fee or other
compensation as a finder or broker, or in any similar capacity.

     

    Section
2.11                      Financial
Statements.  Parent has previously been provided with drafts of
the Company’s (i) audited balance sheet (the “Balance Sheet”) as of
December 31, 2008 (the “Company Balance Sheet
Date”), (ii) audited statements of operations and accumulated deficits
and cash flows for the years ended December 31, 2008 and December 31, 2007,
(iii) unaudited balance sheet as of September 30, 2009, and (iv) unaudited
statements of operations and accumulated deficits and cash flows for the nine
months ended September 30, 2009 and September 30, 2008. Such financial
statements are collectively referred to as the “Financial
Statements”. The Financial Statements (a) are in accordance with the
books and records of the Company, (b) present fairly in all material respects
the financial condition of the Company at the dates therein specified and the
results of its operations and changes in financial position for the periods
therein specified and (c) have been prepared in accordance with GAAP applied on
a basis consistent with prior accounting periods.

     

    Section
2.12                      Absence of Undisclosed
Liabilities. The Company has no material obligation or liability (whether
accrued, absolute, contingent, liquidated or otherwise, whether due or to become
due), arising out of any transaction entered into at or prior to the Closing,
except (a) as disclosed in the Balance Sheet, (b) to the extent set forth on or
reserved against in the Balance Sheet or the notes to the Financial Statements,
(c) current liabilities incurred and obligations under agreements entered into
in the usual and ordinary course of business since the Company Balance Sheet
Date, none of which (individually or in the aggregate) has had or will have a
material adverse effect on the Condition of the Company and (d) by the specific
terms of any written agreement, document or arrangement identified in the
Disclosures.

     

    Section
2.13                      Changes.  Since
the Company Balance Sheet Date, the Company has not (a) incurred any debts,
obligations or liabilities, absolute, accrued, contingent or otherwise, whether
due or to become due, except for fees, expenses and liabilities incurred in
connection with the Merger and related transactions and current liabilities
incurred in the usual and ordinary course of business, (b) discharged or
satisfied any Liens other than those securing, or paid any obligation or
liability other than, current liabilities shown on the Balance Sheet and current
liabilities incurred since the Company Balance Sheet Date, in each case in the
usual and ordinary course of business, (c) mortgaged, pledged or subjected to
Lien any of its assets, tangible or intangible other than in the usual and
ordinary course of business, (d) sold, transferred or leased any of its assets,
except in the usual and ordinary course of business, (e) cancelled or
compromised any debt or claim, or waived or released any right, of material
value, (f) suffered any physical damage, destruction or loss (whether or not
covered by insurance) materially and adversely affecting the Condition of the
Company, (g) entered into any transaction other than in the usual and ordinary
course of business, (h) encountered any labor union difficulties, (i) made or
granted any wage or salary increase or made any increase in the amounts payable
under any profit sharing, bonus, deferred compensation, severance pay,
insurance, pension, retirement or other employee benefit plan, agreement or
arrangement, other than in the ordinary course of business consistent with past
practice, or entered into any employment agreement, (j) issued or sold any
shares of capital stock, bonds, notes, debentures or other securities or granted
any

     

    
      
         

      

      
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    options
(including employee stock options), warrants or other rights with respect
thereto, (k) declared or paid any dividends on or made any other distributions
with respect to, or purchased or redeemed, any of its outstanding capital stock,
(l) suffered or experienced any change in, or condition affecting, the Condition
of the Company other than changes, events or conditions in the usual and
ordinary course of its business, none of which (either by itself or in
conjunction with all such other changes, events and conditions) has been
materially adverse, (m) made any change in the accounting principles, methods or
practices followed by it or depreciation or amortization policies or rates
theretofore adopted, (n) made or permitted any amendment or termination of any
material contract, agreement or license to which it is a party, (o) suffered any
material loss not reflected in the Balance Sheet or its statement of income for
the period ended on the Company Balance Sheet Date, (p) paid, or made any
accrual or arrangement for payment of, bonuses or special compensation of any
kind or any severance or termination pay to any present or former officer,
director, employee, stockholder or consultant, (q) made or agreed to make any
charitable contributions or incurred any non-business expenses in excess of
$50,000 in the aggregate or (r) entered into any agreement, or otherwise
obligated itself, to do any of the foregoing.  

     

    Section
2.14                      Assets and
Contracts.

     

    (a)           Schedule 2.14(a)
contains a true and complete list of all real property leased by the Company and
of all tangible personal property owned or leased by the Company having a cost
or fair market value of greater than $250,000. All the real property listed in
Schedule
2.14(a) is leased by the Company under valid leases enforceable in
accordance with their terms, and there is not, under any such lease, any
existing default or event of default or event which with notice or lapse of
time, or both, would constitute a default by the Company, and the Company has
not received any notice or claim of any such default by the Company. The Company
does not own any real property.

     

    (b)           Except
as expressly set forth in this Agreement, the Financial Statements or the notes
thereto, or as disclosed in Schedule 2.14(b)
hereto, the Company is not a party to any written or oral agreement not made in
the ordinary course of business that is material to the Company. Except as
disclosed in Schedule
2.14(b) hereto, the Company is not a party to any written or oral (i)
agreement for the purchase of fixed assets or for the purchase of materials,
supplies or equipment in excess of normal operating requirements, (ii) agreement
for the employment of any officer, individual employee or other Person on a
full-time basis or any agreement with any Person for consulting services, (iii)
indenture, loan or credit agreement, note agreement, deed of trust, mortgage,
security agreement, promissory note or other agreement or instrument relating to
or evidencing Indebtedness for Borrowed Money or subjecting any asset or
property of the Company to any Lien or evidencing any Indebtedness, (iv)
guaranty of any Indebtedness, (v) other than as set forth in Schedule 2.14(a)
hereto, lease or agreement under which the Company is lessee of or holds or
operates any property, real or personal, owned by any other Person under which
payments to such Person exceed $250,000 per year, (vi) agreement granting any
preemptive right, right of first refusal or similar right to any Person, (vii)
agreement or arrangement with any Affiliate or any “associate” (as such term is
defined in Rule 405 under the Securities Act) of the Company or any present or
former officer, director or stockholder of the Company, (viii) agreement
obligating the Company to pay any royalty or similar charge for the use or
exploitation of any tangible or intangible property, (ix) covenant not to
compete or

     

    
      
         

      

      
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    other
material restriction on its ability to conduct a business or engage in any other
activity, (x) agreement to register securities under the Securities Act or (xi)
collective bargaining agreement. Except as disclosed in Schedule 2.14(b),
none of the agreements, contracts, leases, instruments or other documents or
arrangements listed in Schedules 2.14(a) and
2.14(b)
requires the consent of any of the parties thereto other than the Company to
permit the contract, agreement, lease, instrument or other document or
arrangement to remain effective following consummation of the Merger and the
transactions contemplated hereby. For purposes of this Agreement, an “Affiliate” shall mean
any Person that directly or indirectly controls, is controlled by, or is under
common control with, the indicated Person.

     

    (c)           The
Company has made available to Parent and Acquisition Corp. true and complete
copies of all agreements and other documents and a description of all applicable
oral agreements disclosed or referred to in Schedules 2.14(a) and
2.14(b), as
well as any additional agreements or documents, requested by Parent or
Acquisition Corp. The Company has in all material respects performed all
obligations required to be performed by it to date and is not in default in any
material respect under any of the contracts, agreements, leases, documents,
commitments or other arrangements to which it is a party or by which it or any
of its property is otherwise bound or affected.

     

    Section
2.15                      Personnel.  The
Company has complied in all material respects with all laws relating to the
employment of labor, and the Company has encountered no material labor union
difficulties. Other than pursuant to ordinary arrangements of compensation to
personnel, the Company is not under any obligation or liability to any officer,
director, consultant or staff member of the Company.

     

    Section
2.16                      Tax Returns and
Audits.

     

    (a)           Except
as disclosed in Schedule 2.16(a)
hereto, all required Tax Returns (as defined below) of the Company have been
accurately prepared and duly and timely filed, and all Taxes (as defined below)
required to be paid with respect to the periods covered by such returns have
been paid. Except as disclosed in Schedule 2.16(a)
hereto, the Company is not and has not been delinquent in the payment of any
Tax. The Company has not had a Tax deficiency proposed or assessed against it
and has not executed a waiver of any statute of limitations on the assessment or
collection of any Tax. None of the Company’s income tax returns has been audited
by any governmental authority; and none of the Company’s income or franchise tax
returns has been audited by any governmental authority. The reserves for Taxes
reflected on the Balance Sheet, if any, are and will be sufficient for the
payment of all unpaid Taxes payable by the Company as of the Company Balance
Sheet Date. Since the Company Balance Sheet Date, the Company has made adequate
provisions on its books of account for all Taxes with respect to its business,
properties and operations for such period. Except as disclosed in Schedule 2.16(a)
hereto, the Company has withheld or collected from each payment made to each of
its employees the amount of all taxes  required to be withheld or
collected therefrom, and has paid the same to the proper Tax receiving officers
or authorized depositaries. There are no federal, state, local or foreign
audits, actions, suits, proceedings, investigations, claims or administrative
proceedings relating to Taxes or any Tax Returns of the Company now pending, and
the Company has not received any notice of any proposed audits, investigations,
claims or administrative proceedings relating to Taxes or any Tax Returns. The
Company is not obligated to make a payment, nor is it

     

    
      
         

      

      
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    a party
to any agreement that under certain circumstances could obligate it to make a
payment that would not be deductible under Section 280G of the Code. The Company
has not agreed, nor is it required, to make any adjustments under Section 481(a)
of the Code (or any similar provision of state, local and foreign law), whether
by reason of a change in accounting method or otherwise, for any Tax period for
which the applicable statute of limitations has not yet expired. The Company (i)
is not a party to, nor is it bound by or obligated under, any Tax sharing
agreement, Tax indemnification agreement or similar contract or arrangement,
whether written or unwritten (collectively, “Tax Sharing
Agreements”), and (ii) does not have any potential liability or
obligation to any Person as a result of, or pursuant to, any such Tax Sharing
Agreements, except as set forth in the Escrow Agreement attached hereto as Exhibit
F.

     

    (b)           For
purposes of this Agreement, the following terms shall have the meanings provided
below:

     

    (i)           “Tax” or “Taxes” shall mean (A)
any and all taxes, assessments, customs, duties, levies, fees, tariffs, imposts,
deficiencies and other governmental charges of any kind whatsoever (including,
but not limited to, taxes on or with respect to net or gross income, franchise,
profits, gross receipts, capital, sales, use, ad valorem, value added, transfer,
real property transfer, transfer gains, transfer taxes, inventory, capital
stock, license, payroll, employment, social security, unemployment, severance,
occupation, real or personal property, estimated taxes, rent, excise, occupancy,
recordation, bulk transfer, intangibles, alternative minimum, doing business,
withholding and stamp), together with any interest thereon, penalties, fines,
damages costs, fees, additions to tax or additional amounts with respect
thereto, imposed by the United States (federal, state or local) or other
applicable jurisdiction; (B) any liability for the payment of any amounts
described in clause (A) as a result of being a member of an affiliated,
consolidated, combined, unitary or similar group or as a result of transferor or
successor liability; and (C) any liability for the payments of any amounts as a
result of being a party to any Tax Sharing Agreement or as a result of any
express or implied obligation to indemnify any other Person with respect to the
payment of any amounts of the type described in clause (A) or (B).

     

    (ii)           “Tax Return” shall
include all returns and reports (including elections, declarations, disclosures,
schedules, estimates and information returns  required to be supplied
to a Tax authority relating to Taxes.

     

    Section
2.17                      Patents and Other Intangible
Assets.

     

    (a)           The
Company (i) owns or has the right to use, free and clear of all Liens, claims
and restrictions, all patents, trademarks, service marks, trade names,
copyrights, licenses and rights with respect to the foregoing used in or
necessary for the conduct of its business as now conducted or proposed to be
conducted without infringing upon or otherwise acting adversely to the right or
claimed right of any Person under or with respect to any of the foregoing and
(ii) is not obligated or under any liability to make any payments by way of
royalties, fees or otherwise to any owner or licensor of, or other claimant to,
any patent, trademark, service mark, trade name, copyright or other intangible
asset, with respect to the use thereof or in connection with the conduct of its
business or otherwise.

     

    
      
         

      

      
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    (b)           To
the knowledge of the Company, the Company owns and has the unrestricted right to
use all trade secrets, if any, including know-how, negative know-how, formulas,
patterns, programs, devices, methods, techniques, inventions, designs,
processes, computer programs and technical data and all information that derives
independent economic value, actual or potential, from not being generally known
or known by competitors (collectively, “Intellectual
Property”) required for or incident to the development, operation and
sale of all products and services sold by the Company, free and clear of any
right, Lien or claim of others; provided, however, that the
possibility exists that other Persons, completely independently of the Company
or its employees or agents, could have developed Intellectual Property similar
or identical to that of the Company. The Company is not aware of any such
development of substantially identical trade secrets or technical information by
others. All Intellectual Property can and will be transferred by the Company to
the Surviving Corporation as a result of the Merger and without the consent of
any Person other than the Company.

     

    Section
2.18                      Employee Benefit Plans;
ERISA.

     

    (a)           Except
as disclosed on Schedule 2.18 hereto,
there are no “employee benefit plans” (within the meaning of Section 3(3) of
ERISA) nor any other employee benefit or fringe benefit arrangements, practices,
contracts, policies or programs of every type other than programs merely
involving the regular payment of wages, commissions, or bonuses established,
maintained or contributed to by the Company, whether written or unwritten and
whether or not funded. The plans listed on Schedule 2.18 hereto
are hereinafter referred to as the “Employee Benefit
Plans.”

     

    (b)           All
current and prior material documents, including all amendments thereto, with
respect to each Employee Benefit Plan have been made available to Parent and
Acquisition Corp. or their advisors.

     

    (c)           To
the knowledge of the Company, all Employee Benefit Plans are in material
compliance with the applicable requirements of ERISA, the Code and any other
applicable state, federal or foreign law.

     

    (d)           There
are no pending claims or lawsuits that have been asserted or instituted against
any Employee Benefit Plan, the assets of any of the trusts or funds under the
Employee Benefit Plans, the plan sponsor or the plan administrator of any of the
Employee Benefit Plans or against any fiduciary of an Employee Benefit Plan with
respect to the operation of such plan, nor does the Company have any knowledge
of any incident, transaction, occurrence or circumstance that might reasonably
be expected to form the basis of any such claim or lawsuit.

     

    (e)           There
is no pending or, to the knowledge of the Company, contemplated investigation,
or pending or possible enforcement action by the Pension Benefit Guaranty
Corporation, the Department of Labor, the Internal Revenue Service or any other
government agency with respect to any Employee Benefit Plan and the Company has
no knowledge of any incident, transaction, occurrence or circumstance which
might reasonably be expected to trigger such an investigation or enforcement
action.

     

    
      
         

      

      
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    (f)           No
actual or, to the knowledge of the Company, contingent liability exists with
respect to the funding of any Employee Benefit Plan or for any other expense or
obligation of any Employee Benefit Plan, except as disclosed on the financial
statements of the Company, and no contingent liability exists under ERISA with
respect to any “multi-employer plan,” as defined in Section 3(37) or Section
4001(a)(3) of ERISA.

     

    (g)           No
events have occurred or are expected to occur with respect to any Employee
Benefit Plan that would cause a material change in the costs of providing
benefits under such Employee Benefit Plan or would cause a material change in
the cost of providing for other liabilities of such Employee Benefit
Plan.

     

    Section
2.19                      Title to Property and
Encumbrances.  The Company has good, valid and indefeasible
marketable title to all properties and assets used in the conduct of its
business (except for property held under valid and subsisting leases that are in
full force and effect and which are not in default) free of all Liens and other
encumbrances, except Permitted Liens (as defined below) and such ordinary and
customary imperfections of title, restrictions and encumbrances as do not,
individually or in the aggregate, materially detract from the value of the
property or assets or materially impair the use made thereof by the Company in
its business. Without limiting the generality of the foregoing, the Company has
good and indefeasible title to all of its properties and assets reflected in the
Balance Sheet, except for property disposed of in the usual and ordinary course
of business since the Company Balance Sheet Date and for property held under
valid and subsisting leases that are in full force and effect and that are not
in default. For purposes of this Agreement, “Permitted Liens”
shall mean (a) Liens for taxes and assessments or governmental charges or levies
not at the time due or in respect of which the validity thereof shall currently
be contested in good faith by appropriate proceedings; (b) Liens in respect of
pledges or deposits under workmen’s compensation laws or similar legislation,
carriers’, warehousemen’s, mechanics’, laborers’ and materialmens’ and similar
Liens, if the obligations secured by such Liens are not then delinquent or are
being contested in good faith by appropriate proceedings and (c) Liens
incidental to the conduct of the business of the Company that were not incurred
in connection with the borrowing of money or the obtaining of advances or
credits and that do not in the aggregate materially detract from the value of
its property or materially impair the use made thereof by the Company in its
business. 

     

    Section
2.20                      Condition of
Properties.  All facilities, machinery, equipment, fixtures and
other properties owned, leased or used by the Company are in reasonably good
operating condition and repair, subject to ordinary wear and tear, and are
adequate and sufficient for the Company’s business.

     

    Section
2.21                      Insurance
Coverage.  There is in full force and effect one or more
policies of insurance issued by insurers of recognized responsibility, insuring
the Company and its properties, products and business against such losses and
risks, and in such amounts, as are customary for corporations of established
reputation engaged in the same or similar business and similarly situated. The
Company has not been refused any insurance coverage sought or applied for, and
the Company has no reason to believe that it will be unable to renew its
existing insurance coverage as and when the same shall expire upon terms at
least as favorable to those currently in effect, other than possible increases
in premiums that do not result from any act or omission of the Company. No suit,
proceeding or action or, to the best current actual knowledge of the Company,
threat of suit, proceeding or action has been asserted or made against the
Company within the last five years due to alleged bodily injury, disease,
medical condition, death or property damage arising out of the function or
malfunction of a product, procedure or service designed, manufactured, sold or
distributed by the Company.

     

    
      
         

      

      
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    Section
2.22                      Litigation.  Except
as disclosed in Schedule 2.22 hereto,
there is no legal action, suit, arbitration or other legal, administrative or
other governmental proceeding pending or, to the knowledge of the Company,
threatened against or affecting the Company or its properties, assets or
business, and after reasonable investigation, the Company is not aware of any
incident, transaction, occurrence or circumstance that might reasonably be
expected to result in or form the basis for any such action, suit, arbitration
or other proceeding. The Company is not in default with respect to any order,
writ, judgment, injunction, decree, determination or award of any court or any
governmental agency or instrumentality or arbitration authority.

     

    Section
2.23                      Licenses.  The
Company possesses from all appropriate governmental authorities all licenses,
permits, authorizations, approvals, franchises and rights necessary for the
Company to engage in the business currently conducted by it, all of which are in
full force and effect.

     

    Section
2.24                      Interested Party
Transactions.  Except as described on Schedule 2.24 annexed
hereto, no officer, director or stockholder of the Company or any Affiliate or
“associate” (as such term is defined in Rule 405 under the Securities Act) of
any such Person or the Company has or has had, either directly or indirectly,
(a) an interest in any Person that (i) furnishes or sells services or products
that are furnished or sold or are proposed to be furnished or sold by the
Company or (ii) purchases from or sells or furnishes to the Company any goods or
services, or (b) a beneficial interest in any contract or agreement to which the
Company is a party or by which it may be bound or affected.

     

    Section
2.25                      Environmental
Matters.

     

    (a)           To
the knowledge of the Company, the Company has never generated, used, handled,
treated, released, stored or disposed of any Hazardous Materials (as defined
below) on any real property on which it now has or previously had any leasehold
or ownership interest, except in compliance with all applicable Environmental
Laws (as defined below).

     

    (b)           To
the knowledge of the Company, the historical and present operations of the
business of the Company are in compliance with all applicable Environmental
Laws, except where any non-compliance has not had and would not reasonably be
expected to have a material adverse effect on the Condition of the
Company.

     

    (c)           There
are no material pending or, to the knowledge of the Company, threatened,
demands, claims, information requests or notices of noncompliance or violation
against or to the Company relating to any Environmental Law; and, to the
knowledge of the Company, there are no conditions or occurrences on any of the
real property used by the Company in connection with its business that would
reasonably be expected to lead to any such demands, claims or notices against or
to the Company, except such as have not had, and would not reasonably be
expected to have, a material adverse effect on the Condition of the
Company.

     

    

     

    
      
         

      

      
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    (d)           To
the knowledge of the Company, (i) the Company has not sent or disposed of,
otherwise had taken or transported, arranged for the taking or disposal of (on
behalf of itself, a customer or any other party) or in any other manner
participated or been involved in the taking of or disposal or release of a
Hazardous Material to or at a site that is contaminated by any Hazardous
Material or that, pursuant to any Environmental Law, (A) has been placed on the
“National Priorities List”, the “CERCLIS” list, or any similar state or federal
list, or (B) is subject to or the source of a claim, an administrative order or
other request to take “removal”, “remedial”, “corrective” or any other
“response” action, as defined in any Environmental Law, or to pay for the costs
of any such action at the site; (ii) the Company is not involved in (and has no
basis to reasonably expect to be involved in) any suit or proceeding and has not
received (and has no basis to reasonably expect to receive) any notice, request
for information or other communication from any governmental authority or other
third party with respect to a release or threatened release of any Hazardous
Material or a violation or alleged violation of any Environmental Law, and has
not received (and has no basis to reasonably expect to receive) notice of any
claims from any Person relating to property damage, natural resource damage or
to personal injuries from exposure to any Hazardous Material; and (iii) the
Company has timely filed every report required to be filed, acquired all
necessary certificates, approvals and permits, and generated and maintained all
required data, documentation and records under all Environmental Laws, in all
such instances except where the failure to do so would not reasonably be
expected to have, individually or in the aggregate, a material adverse effect on
the Condition of the Company.

     

    (e)           For
purposes of this Agreement, the following terms shall have the meanings provided
below:

     

    (i)           “Environmental Laws”
shall mean the Comprehensive Environmental Response, Compensation and Liability
Act, 42 U.S.C. §§ 9601, et seq.; the Emergency Planning and Community
Right-to-Know Act of 1986, 42 U.S.C. §§ 11001, et seq.; the Resource
Conservation and Recovery Act, 42 U.S.C. §§ 6901, et seq.; the Toxic Substances
Control Act, 15 U.S.C. §§ 2601 et seq.; the Federal Insecticide, Fungicide, and
Rodenticide Act, 7 U.S.C. §§ 136, et seq. and comparable state statutes dealing
with the registration, labeling and use of pesticides and herbicides; the Clean
Air Act, 42 U.S.C. §§ 7401 et seq.; the Clean Water Act (Federal Water Pollution
Control Act), 33 U.S.C. §§ 1251 et seq.; the Safe Drinking Water Act, 42 U.S.C.
§§ 300f, et seq.; the Hazardous Materials Transportation Act, 49 U.S.C. §§ 1801,
et seq.; as any of the above statutes have been amended as of the date hereof,
all rules, regulations and policies promulgated pursuant to any of the above
statutes, and any other foreign, federal, state or local law, statute,
ordinance, rule, regulation or policy governing environmental matters, as the
same have been amended as of the date hereof.

     

    (ii)           “Hazardous Material”
shall mean any substance or material meeting any one or more of the following
criteria: (a) it is or contains a substance designated as or meeting the
characteristics of a hazardous waste, hazardous substance, hazardous material,
pollutant, contaminant or toxic substance under any Environmental Law; (b) its
presence at some quantity requires investigation, notification or remediation
under any Environmental Law; or (c) it contains, without limiting the foregoing,
asbestos, polychlorinated biphenyls, petroleum hydrocarbons, petroleum derived
substances or waste, pesticides, herbicides, crude oil or any fraction thereof,
nuclear fuel, natural gas or synthetic gas.

     

    
      
         

      

      
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    Section
2.26                      Questionable
Payments.  Neither the Company nor any director, officer or, to
the knowledge of the Company, agent, employee or other Person associated with or
acting on behalf of the Company, has used any corporate funds for unlawful
contributions, gifts, entertainment or other unlawful expenses relating to
political activity; made any direct or indirect unlawful payments to government
officials or employees from corporate funds; established or maintained any
unlawful or unrecorded fund of corporate monies or other assets; made any false
or fictitious entries on the books of record of any such corporations; or made
any bribe, rebate, payoff, influence payment, kickback or other unlawful
payment.

     

    Section
2.27                      Obligations to or by
Stockholders.  Except as set forth in Schedule 2.27 hereto,
the Company has no liability or obligation or commitment to any Stockholder or
any Affiliate or “associate” (as such term is defined in Rule 405 under the
Securities Act) of any Stockholder, nor does any Stockholder or any such
Affiliate or associate have any liability, obligation or commitment to the
Company.  

     

    Section
2.28                      Duty to Make
Inquiry.  To the extent that any of the representations or
warranties in this Article II are qualified by “knowledge” or “belief,” the
Company represents and warrants that it has made due and reasonable inquiry and
investigation concerning the matters to which such representations and
warranties relate, including, but not limited to, diligent inquiry of its
directors, officers and key personnel.

     

    Section
2.29                      Disclosure.  There
is no fact relating to the Company that the Company has not disclosed to Parent
and Acquisition Corp. in writing that has had or is currently having a material
and adverse effect or, insofar as the Company can now foresee, will materially
and adversely affect the Condition of the Company. No representation or warranty
by the Company herein and no information disclosed in the schedules or exhibits
hereto by the Company contains any untrue statement of a material fact or omits
to state a material fact necessary to make the statements contained herein or
therein not misleading.

     

    ARTICLE
III.

     

    REPRESENTATIONS
AND WARRANTIES OF PARENT AND ACQUISITION CORP.

     

    Parent
and Acquisition Corp. represent and warrant to the Company as follows.
Notwithstanding anything to the contrary contained herein, disclosure of items
in the Parent SEC Documents (as defined below) shall be deemed to be disclosure
of such items for all purposes under this Agreement, including, without
limitation, for all applicable representations and warranties of Parent and
Acquisition Corp.:

     

    

     

    
      
         

      

      
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    Section
3.01                      Organization and
Standing.  Parent is a corporation duly organized and existing
in good standing under the laws of the State of Nevada. Acquisition Corp. is a
corporation duly organized and existing in good standing under the laws of the
State of Nevada. Parent and Acquisition Corp. have heretofore delivered to the
Company complete and correct copies of their respective Certificates of
Incorporation and By-Laws as now in effect. Parent and Acquisition Corp. have
full corporate power and authority to carry on their respective businesses as
they are now being conducted and as now proposed to be conducted and to own or
lease their respective properties and assets. Neither Parent nor Acquisition
Corp. has any subsidiaries (except Parent’s ownership of Acquisition Corp. and
Caribbean Villa Catering Holdings, Inc.) or direct or indirect interest (by way
of stock ownership or otherwise) in any firm, corporation, limited liability
company, partnership, association or business. Parent owns all of the issued and
outstanding capital stock of Acquisition Corp. free and clear of all Liens, and
Acquisition Corp. has no outstanding options, warrants or rights to purchase
capital stock or other securities of Acquisition Corp., other than the capital
stock owned by Parent. Unless the context otherwise requires, all references in
this Article III to “Parent” shall be treated as being a reference to Parent and
Acquisition Corp. taken together as one enterprise.

     

    Section
3.02                      Qualification.  Parent
is duly qualified to conduct business as a foreign corporation and is in good
standing in each jurisdiction wherein the nature of its activities or its
properties owned or leased makes such qualification necessary, except where the
failure to be so qualified would not have a material adverse effect on the
condition, properties, assets, liabilities or business operations of Parent (the
“Condition of the
Parent”).

     

    Section
3.03                      Corporate
Authority.  Each of Parent and/or Acquisition Corp. (as the
case may be) has full corporate power and authority to enter into the Merger
Documents and the other agreements to be made pursuant to the Merger Documents,
and to carry out the transactions contemplated hereby and thereby. All corporate
acts and proceedings required for the authorization, execution, delivery and
performance of the Merger Documents and such other agreements and documents by
Parent and/or Acquisition Corp. (as the case may be) have been duly and validly
taken or will have been so taken prior to the Closing. Each of the Merger
Documents constitutes a legal, valid and binding obligation of Parent and/or
Acquisition Corp. (as the case may be), each is enforceable against it and/or
them in accordance with its terms, except as such enforcement may be limited by
bankruptcy, insolvency, reorganization or other similar laws affecting
creditors’ rights generally and by general principles of equity.

     

    Section
3.04                      Broker’s and Finder’s
Fees.  Other than fees that will be paid to Strategic
Capitilization Group, no Person is entitled by reason of any act or omission of
Parent or Acquisition Corp. to any broker’s or finder’s fees, commission or
other similar compensation with respect to the execution and delivery of the
Merger Documents, or with respect to the consummation of the transactions
contemplated thereby, except as set forth in the Disclosures.

     

    Section
3.05                      Capitalization.

     

    
      
         

      

      
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    (a)           The
authorized capital stock of Parent consists of (i) 125,000,000 shares of Parent Common
Stock, of which 24,800,000 shares are issued and outstanding (with fractional
shares rounded up to the nearest whole share.  There are no preferred
shares authorized or issued.. Parent has no outstanding options, rights or
commitments to issue shares of Parent Stock or any other Equity Security of
Parent or Acquisition Corp., and there are no outstanding securities convertible
or exercisable into or exchangeable for shares of Parent Common Stock or any
other Equity Security of Parent or Acquisition Corp. There is no voting trust,
agreement or arrangement among any of the beneficial holders of Parent Common
Stock affecting the nomination or election of directors or the exercise of the
voting rights of Parent Common Stock. The offer, issuance and sale of such
shares of Parent Common Stock were (a) exempt from the registration and
prospectus delivery requirements of the Securities Act, (b) registered or
qualified (or were exempt from registration or qualification) under the
registration or qualification requirements of all applicable state securities
laws and (c) accomplished in conformity with all other applicable securities
laws. None of such shares of Parent Common Stock are subject to a right of
withdrawal or a right of rescission under any federal or state securities or
“Blue Sky” law.

     

    (b)           The
authorized capital stock of Acquisition Corp. consists of 3,000 shares of common
stock, par value $0.001 per share (the “Acquisition Corp. Common
Stock”), of which 1,000 shares are issued and outstanding. All of the
outstanding Acquisition Corp. Common Stock is owned by Parent. All outstanding
shares of the capital stock of Acquisition Corp. are validly issued and
outstanding, fully paid and non-assessable, and none of such shares have been
issued in violation of the preemptive rights of any Person. Acquisition Corp.
has no outstanding options, rights or commitments to issue shares of Acquisition
Corp. Common Stock or any other Equity Security of Acquisition Corp., and there
are no outstanding securities convertible or exercisable into or exchangeable
for shares of Acquisition Corp. Common Stock or any other Equity Security of
Acquisition Corp.

     

    Section
3.06                      Acquisition
Corp.  Acquisition Corp. is a wholly-owned Nevada subsidiary of
Parent that was formed specifically for the purpose of the Merger and that has
not conducted any business or acquired any property, and will not conduct any
business or acquire any property prior to the Closing Date, except in
preparation for and otherwise in connection with the transactions contemplated
by the Merger Documents and the other agreements to be made pursuant to or in
connection with the Merger Documents.

     

    Section
3.07                      Validity of
Shares.  The shares of Parent Common Stock to be issued at the
Closing pursuant to Section 1.06(a)(ii) hereof, when issued and delivered in
accordance with the terms of the Merger Documents, shall be duly and validly
issued, fully paid and non-assessable. Based in part on the representations and
warranties of the Stockholders as contemplated by Article IV hereof and assuming
the accuracy thereof, the issuance of the Parent Common Stock upon consummation
of the Merger pursuant to Sections 1.06(a)(ii) will be exempt from the
registration and prospectus delivery requirements of the Securities Act and from
the qualification or registration requirements of any applicable state “Blue
Sky” or securities laws.

     

    
      
         

      

      
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    Section
3.08                      SEC Reporting and
Compliance.

     

    (a)           Parent
filed a registration statement on Form S-1 under the Securities Act, which
became effective on June 23, 2008, as amended to date (the “Parent Registration
Statement”).  Since that date, Parent has timely filed with the
U.S. Securities and Exchange Commission (the “Commission”) all
registration statements, proxy statements, information statements and reports
required to be filed pursuant to the Securities Exchange Act of 1934, as amended
(the “Exchange
Act”). Parent has not filed with the Commission a certificate on Form 15
pursuant to Rule 12h-3 of the Exchange Act.

     

    (b)           Parent
has made available to the Company true and complete copies of the registration
statements, information statements and other reports (collectively, the “Parent SEC
Documents”) filed by Parent with the Commission. None of the Parent SEC
Documents, as of their respective dates, contained any untrue statement of a
material fact or omitted to state a material fact necessary in order to make the
statements contained therein not misleading.

     

    (c)           Prior
to and until the Closing, Parent will provide to the Company copies of any and
all amendments or supplements to the Parent SEC Documents filed with the
Commission and all subsequent registration statements and reports filed by
Parent subsequent to the filing of the Parent SEC Documents with the Commission
and any and all subsequent information statements, proxy statements, reports or
notices filed by Parent with the Commission or delivered to the stockholders of
Parent.

     

    (d)           Parent
is not an investment company within the meaning of Section 3 of the Investment
Company Act of 1940, as amended.

     

    (e)           The
shares of Parent Common Stock are quoted on the Over-the-Counter (OTC) Bulletin
Board under the symbol “CBBV.OB” and Parent is in compliance in all material
respects with all rules and regulations of the OTC Bulletin Board applicable to
it and the Parent Common Stock.

     

    (f)           Between
the date hereof and the Closing Date, Parent shall continue to satisfy the
filing requirements of the Exchange Act and all other requirements of applicable
securities laws and of the OTC Bulletin Board.

     

    (g)           The
Parent SEC Documents include all certifications and statements required of it,
if any, by (i) Rule 13a-14 or 15d-14 under the Exchange Act, and (ii) 18 U.S.C.
Section 1350 (Section 906 of the Sarbanes-Oxley Act of 2002), and each of such
certifications and statements contain no qualifications or exceptions to the
matters certified therein other than a knowledge qualification, permitted under
such provision, and have not been modified or withdrawn and neither Parent nor
any of its officers has received any notice from the Commission questioning or
challenging the accuracy, completeness, form or manner of filing or submission
of such certifications or statements.

     

    (h)           Parent
has otherwise complied with the Securities Act, Exchange Act and all other
applicable federal and state securities laws.

     

    
      
         

      

      
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    Section
3.09                      Financial
Statements.  The balance sheets and statements of operations,
stockholders’ equity and cash flows contained in the Parent SEC Documents (the
“Parent Financial
Statements”) (a) have been prepared in accordance with GAAP applied on a
basis consistent with prior periods (and, in the case of unaudited financial
information, on a basis consistent with year-end audits), (b) are in accordance
with the books and records of Parent and (c) present fairly in all material
respects the financial condition of Parent at the dates therein specified and
the results of its operations and changes in financial position for the periods
therein specified.  The financial statements included in parent’s
Registration Statement were audited by Moore & Associates, Chartered,
Parent’s independent registered public accounting firm.

     

    Section
3.10                      Governmental
Consents.  All material consents, approvals, orders, or
authorizations of, or registrations, qualifications, designations, declarations,
or filings with any federal or state governmental authority on the part of
Parent or Acquisition Corp. required in connection with the consummation of the
Merger shall have been obtained prior to, and be effective as of, the
Closing.

     

    Section
3.11                      Compliance with Laws and
Other Instruments.  The execution, delivery and performance by
Parent and/or Acquisition Corp. of the Merger Documents and the other agreements
to be made by Parent or Acquisition Corp. pursuant to or in connection with the
Merger Documents and the consummation by Parent and/or Acquisition Corp. of the
transactions contemplated by the Merger Documents will not cause Parent and/or
Acquisition Corp. to violate or contravene (a) any provision of law, (b) any
rule or regulation of any agency or government, (c) any order, judgment or
decree of any court or (d) any provision of their respective charters or By-laws
as amended and in effect on and as of the Closing Date and will not violate or
be in conflict with, result in a breach of or constitute (with or without notice
or lapse of time, or both) a default under any material indenture, loan or
credit agreement, deed of trust, mortgage, security agreement or other agreement
or contract to which Parent or Acquisition Corp. is a party or by which Parent
and/or Acquisition Corp. or any of their respective properties is
bound.

     

    Section
3.12                      No General
Solicitation.  In issuing the Parent Stock in the Merger
hereunder, neither Parent nor anyone acting on its behalf has offered to sell
the Parent Stock by any form of general solicitation or
advertising.

     

    Section
3.13                      Binding
Obligations.  The Merger Documents constitute the legal, valid
and binding obligations of Parent and Acquisition Corp., and are enforceable
against Parent and Acquisition Corp., in accordance with their respective terms,
except as such enforcement is limited by bankruptcy, insolvency and other
similar laws affecting the enforcement of creditors’ rights generally and by
general principles of equity.

     

    Section
3.14                      Absence of Undisclosed
Liabilities.  Neither Parent nor Acquisition Corp. has any
material obligation or liability (whether accrued, absolute, contingent,
liquidated or otherwise, whether due or to become due), arising out of any
transaction entered into at or prior to the Closing, except (a) as disclosed in
the Parent SEC Documents, (b) to the extent set forth on or reserved against in
the balance sheet of Parent in the most recent Parent SEC Document filed by
Parent (the “Parent
Balance Sheet”) or the notes to the Parent Financial Statements, (c)
current liabilities incurred and obligations under agreements entered into in
the usual and ordinary course of business since the date of the Parent Balance
Sheet (the “Parent
Balance Sheet Date”), none of which (individually or in the aggregate)
materially and adversely affects the Condition of Parent and (d) by the specific
terms of any written agreement, document or arrangement attached as an exhibit
to the Parent SEC Documents.

     

    
      
         

      

      
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    Section
3.15                      Changes.  Since
the Parent Balance Sheet Date, except as disclosed in the Parent SEC Documents,
Parent has not (a) incurred any debts, obligations or liabilities, absolute,
accrued or, to Parent’s knowledge, contingent, whether due or to become due,
except for current liabilities incurred in the usual and ordinary course of
business, (b) discharged or satisfied any Liens other than those securing, or
paid any obligation or liability other than, current liabilities shown on the
Parent Balance Sheet and current liabilities incurred since the Parent Balance
Sheet Date, in each case in the usual and ordinary course of business, (c)
mortgaged, pledged or subjected to Lien any of its assets, tangible or
intangible, other than in the usual and ordinary course of business, (d) sold,
transferred or leased any of its assets, except in the usual and ordinary course
of business, (e) cancelled or compromised any debt or claim, or waived or
released any right of material value, (f) suffered any physical damage,
destruction or loss (whether or not covered by insurance) that could reasonably
be expected to have a material adverse effect on the Condition of the Parent,
(g) entered into any transaction other than in the usual and ordinary course of
business, (h) encountered any labor union difficulties, (i) made or granted any
wage or salary increase or made any increase in the amounts payable under any
profit sharing, bonus, deferred compensation, severance pay, insurance, pension,
retirement or other employee benefit plan, agreement or arrangement, other than
in the ordinary course of business consistent with past practice, or entered
into any employment agreement, (j) issued or sold any shares of capital stock,
bonds, notes, debentures or other securities or granted any options (including
employee stock options), warrants or other rights with respect thereto, (k)
declared or paid any dividends on or made any other distributions with respect
to, or purchased or redeemed, any of its outstanding capital stock, (l) suffered
or experienced any change in, or condition affecting, the Condition of the
Parent other than changes, events or conditions in the usual and ordinary course
of its business, none of which (either by itself or in conjunction with all such
other changes, events and conditions) could reasonably be expected to have a
material adverse effect on the Condition of the Parent, (m) made any change in
the accounting principles, methods or practices followed by it or depreciation
or amortization policies or rates theretofore adopted, (n) made or permitted any
amendment or termination of any material contract, agreement or license to which
it is a party, (o) suffered any material loss not reflected in the Parent
Balance Sheet or its statement of income for the year ended on the Parent
Balance Sheet Date, (p) paid, or made any accrual or arrangement for payment of,
bonuses or special compensation of any kind or any severance or termination pay
to any present or former officer, director, employee, stockholder or consultant,
(q) made or agreed to make any charitable contributions or incurred any
non-business expenses in excess of $5,000 in the aggregate or (r) entered into
any agreement, or otherwise obligated itself, to do any of the
foregoing.

     

    Section
3.16                      Tax Returns and
Audits.  All required federal, state and local Tax Returns of
Parent have been accurately prepared in all material respects and duly and
timely filed, and all federal, state and local Taxes required to be paid with
respect to the periods covered by such returns have been paid to the extent that
the same are material and have become due, except where the failure so to file
or pay could not reasonably be expected to have a material adverse effect upon
the Condition of the Parent. Parent is not and has not been delinquent in the
payment of any Tax. Parent has not had a Tax deficiency assessed against it.
None of Parent’s federal income, state and local income and franchise tax
returns has been audited by any governmental authority. The reserves for Taxes
reflected on the Parent Balance Sheet are sufficient for the payment of all
unpaid Taxes payable by Parent with respect to the period ended on the Parent
Balance Sheet Date. There are no federal, state, local or foreign audits,
actions, suits, proceedings, investigations, claims or administrative
proceedings relating to Taxes or any Tax Returns of Parent now pending, and
Parent has not received any notice of any proposed audits, investigations,
claims or administrative proceedings relating to Taxes or any Tax
Returns.

     

    
      
         

      

      
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    Section
3.17                      Employee Benefit Plans;
ERISA.

     

    (a)           Except
as disclosed in the Parent SEC Documents, there are no “employee benefit plans”
(within the meaning of Section 3(3) of ERISA) nor any other employee benefit or
fringe benefit arrangements, practices, contracts, policies or programs other
than programs merely involving the regular payment of wages, commissions, or
bonuses established, maintained or contributed to by Parent. Any plans listed in
the Parent SEC Documents are hereinafter referred to as the “Parent Employee Benefit
Plans.”

     

    (b)           Any
current and prior material documents, including all amendments thereto, with
respect to each Parent Employee Benefit Plan have been given to the Company or
its advisors.

     

    (c)           All
Parent Employee Benefit Plans are in material compliance with the applicable
requirements of ERISA, the Code and any other applicable state, federal or
foreign law.

     

    (d)           There
are no pending, or to the knowledge of Parent, threatened, claims or lawsuits
which have been asserted or instituted against any Parent Employee Benefit Plan,
the assets of any of the trusts or funds under the Parent Employee Benefit
Plans, the plan sponsor or the plan administrator of any of the Parent Employee
Benefit Plans or against any fiduciary of a Parent Employee Benefit Plan with
respect to the operation of such plan.

     

    (e)           There
is no pending, or to the knowledge of Parent, threatened, investigation or
pending or possible enforcement action by the Pension Benefit Guaranty
Corporation, the Department of Labor, the Internal Revenue Service or any other
government agency with respect to any Parent Employee Benefit Plan.

     

    (f)           No
actual or, to the knowledge of Parent, contingent liability exists with respect
to the funding of any Parent Employee Benefit Plan or for any other expense or
obligation of any Parent Employee Benefit Plan, except as disclosed on the
financial statements of Parent or the Parent SEC Documents, and to the knowledge
of Parent, no contingent liability exists under ERISA with respect to any
“multi-employer plan,” as defined in Section 3(37) or Section 4001(a)(3) of
ERISA.

     

    Section
3.18                      Litigation.  There
is no legal action, suit, arbitration or other legal, administrative or other
governmental proceeding pending or, to the knowledge of Parent, threatened
against or affecting Parent or Acquisition Corp. or any of their respective
properties, assets or businesses. To the knowledge of Parent, neither Parent nor
Acquisition Corp. is in default with respect to any order, writ, judgment,
injunction, decree, determination or award of any court or any governmental
agency or instrumentality or arbitration authority.

     

    Section
3.19                      Licenses. Parent possesses from all
appropriate governmental authorities all licenses, permits, authorizations,
approvals, franchises and rights necessary for the Company to engage in the
business currently conducted by it, all of which are in full force and
effect.

     

    
      
         

      

      
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    Section
3.20                      Interested Party
Transactions.  No officer, director or stockholder of Parent or
any Affiliate or “associate” (as such term is defined in Rule 405 under the
Securities Act) of any such Person or of Parent has or has had, either directly
or indirectly, (a) an interest in any Person that (i) furnishes or sells
services or products that are furnished or sold or are proposed to be furnished
or sold by Parent or (ii) purchases from or sells or furnishes to Parent any
goods or services, or (b) a beneficial interest in any contract or agreement to
which Parent is a party or by which it or any of its assets may be bound or
affected.

     

    Section
3.21                      Questionable
Payments.  Neither Parent, Acquisition Corp. nor, to the
knowledge of Parent, any director, officer, agent, employee or other Person
associated with or acting on behalf of Parent or Acquisition Corp. has used any
corporate funds for unlawful contributions, gifts, entertainment or other
unlawful expenses relating to political activity; made any direct or indirect
unlawful payments to government officials or employees from corporate funds;
established or maintained any unlawful or unrecorded fund of corporate monies or
other assets; made any false or fictitious entries on the books of record of any
such corporations; or made any bribe, rebate, payoff, influence payment,
kickback or other unlawful payment.

     

    Section
3.22                      Obligations to or by
Stockholders.  Parent has no liability or obligation or
commitment to any stockholder of Parent or any Affiliate or “associate” (as such
term is defined in Rule 405 under the Securities Act) of any stockholder of
Parent, nor does any stockholder of Parent or any such Affiliate or associate
have any liability, obligation or commitment to Parent.

     

    Section
3.23                      Assets and
Contracts.  Except as expressly set forth in this Agreement,
the Parent Balance Sheet or the notes thereto, or the Parent SEC Documents,
Parent is not a party to any written or oral agreement not made in the ordinary
course of business that is material to Parent. Parent does not own any real
property. Except as expressly set forth in this Agreement, the Parent Balance
Sheet or the notes thereto, or the Parent SEC Documents, Parent is not a party
to or otherwise barred by any written or oral (a) agreement with any labor
union, (b) agreement for the purchase of fixed assets or for the purchase of
materials, supplies or equipment in excess of normal operating requirements, (c)
agreement for the employment of any officer, individual employee or other Person
on a full-time basis or any agreement with any Person for consulting services,
(d) bonus, pension, profit sharing, retirement, stock purchase, stock option,
deferred compensation, medical, hospitalization or life insurance or similar
plan, contract or understanding with respect to any or all of the employees of
Parent or any other Person, (e) indenture, loan or credit agreement, note
agreement, deed of trust, mortgage, security agreement, promissory note or other
agreement or instrument relating to or evidencing Indebtedness for Borrowed
Money or subjecting any asset or property of Parent to any Lien or evidencing
any Indebtedness, (f) guaranty of any Indebtedness, (g) lease or agreement under
which Parent is lessee of or holds or operates any property, real or personal,
owned by any other Person, (h) lease or agreement under which Parent is lessor
or permits any Person to hold or operate any property, real or personal, owned
or controlled by Parent, (i) agreement granting any preemptive right, right of
first refusal or similar right to any Person, (j) agreement or arrangement with
any Affiliate or any “associate” (as such term is defined in Rule 405 under the
Securities Act) of Parent or any present or former officer, director or
stockholder of Parent, (k) agreement obligating Parent to pay any royalty or
similar charge for the use or exploitation of any tangible or intangible
property, (1) covenant not to compete or other restriction on its ability to
conduct a business or engage in any other activity, (m) distributor, dealer,
manufacturer’s representative,

     

    
      
         

      

      
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    sales
agency, franchise or advertising contract or commitment, (n) agreement to
register securities under the Securities Act, (o) collective bargaining
agreement or (p) agreement or other commitment or arrangement with any Person
continuing for a period of more than three months from the Closing Date that
involves an expenditure or receipt by Parent in excess of $1,000. Parent
maintains no insurance policies or insurance coverage of any kind with respect
to Parent, its business, premises, properties, assets, employees and agents. No
consent of any bank or other depository is required to maintain any bank
account, other deposit relationship or safety deposit box of Parent in effect
following the consummation of the Merger and the transactions contemplated
hereby.

     

    Section
3.24                      Employees.  Other
than pursuant to ordinary arrangements of employment compensation, Parent is not
under any obligation or liability to any officer, director, employee or
Affiliate of Parent.

     

    Section
3.25                      Disclosure.  There
is no fact relating to Parent that Parent has not disclosed to the Company in
writing that materially and adversely affects nor, insofar as Parent can now
foresee, will materially and adversely affect, the condition (financial or
otherwise), properties, assets, liabilities, business operations, results of
operations or prospects of Parent. No representation or warranty by Parent
herein and no information disclosed in the schedules or exhibits hereto by
Parent contains any untrue statement of a material fact or omits to state a
material fact necessary to make the statements contained herein or therein not
misleading.

     

    ARTICLE
IV.

     

    ADDITIONAL
REPRESENTATIONS, WARRANTIES AND

     

    COVENANTS
OF THE STOCKHOLDERS

     

    Promptly
after the Effective Time, Parent shall cause to be mailed to each holder of
record of Company Common Stock that was converted pursuant to Section 1.06
hereof into the right to receive Parent Stock a letter of transmittal (“Letter of
Transmittal”) that shall contain additional representations, warranties
and covenants of such Stockholder, including without limitation, that (a) such
Stockholder has full right, power and authority to deliver such Company Common
Stock and Letter of Transmittal, (b) the delivery of such Company Common Stock
will not violate or be in conflict with, result in a breach of or constitute a
default under, any indenture, loan or credit agreement, deed of trust, mortgage,
security agreement or other agreement or instrument to which such Stockholder is
bound or affected, (c) such Stockholder has good, valid and marketable title to
all shares of Company Common Stock indicated in such Letter of Transmittal and
that such Stockholder is not affected by any voting trust, agreement or
arrangement affecting the voting rights of such Company Common Stock, (d)
whether such Stockholder is an “accredited investor,” as such term is defined in
Regulation D under the Securities Act and that such Stockholder is acquiring
Parent Stock for investment purposes, and not with a view to selling or
otherwise distributing such Parent Stock in violation of the Securities Act or
the securities laws of any state and (e) such Stockholder has had an opportunity
to ask and receive answers to any questions such Stockholder may have had
concerning the terms and conditions of the Merger and the Parent Stock and has
obtained any additional information that such Stockholder has requested.
Delivery shall be effected, and risk of loss and title to the Company Common
Stock shall pass, only upon delivery to Parent (or an agent of Parent) of (x)
certificates evidencing ownership thereof as contemplated by Section 1.07 hereof
(or affidavit of lost certificate), and (y) the Letter of Transmittal containing
the representations, warranties and covenants contemplated by this Article
IV.

     

    
      
         

      

      
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    ARTICLE
V.

     

    CONDUCT
OF BUSINESSES PENDING THE MERGER.

     

    Section
5.01                      Conduct of Business by the
Company Pending the Merger.  Prior to the Effective Time,
unless Parent or Acquisition Corp. shall otherwise agree in writing or as
otherwise contemplated by this Agreement:

     

    (a)           the
business of the Company shall be conducted only in the ordinary
course;

     

    (b)           the
Company shall not (i) directly or indirectly redeem, purchase or otherwise
acquire or agree to redeem, purchase or otherwise acquire any shares of its
capital stock; (ii) amend its Charter except to effectuate the transactions
contemplated in the Disclosures or (iii) split, combine or reclassify the
outstanding Company Common Stock or declare, set aside or pay any dividend
payable in cash, stock or property or make any distribution with respect to any
such stock;

     

    (c)           the
Company shall not (i) issue or agree to issue any additional shares of, or
options, warrants or rights of any kind to acquire any shares of, Company Common
Stock, except to issue shares of Company Common Stock in connection with any
matter relating to the Disclosures; (ii) acquire or dispose of any fixed assets
or acquire or dispose of any other substantial assets other than in the ordinary
course of business; (iii) incur additional Indebtedness or any other liabilities
or enter into any other transaction other than in the ordinary course of
business; (iv) enter into any contract, agreement, commitment or arrangement
with respect to any of the foregoing or (v) except as contemplated by this
Agreement, enter into any contract, agreement, commitment or arrangement to
dissolve, merge, consolidate or enter into any other material business
combination;

     

    (d)           the
Company shall use its best efforts to preserve intact the business organization
of the Company, to keep available the service of its present officers and key
employees, and to preserve the good will of those having business relationships
with it;

     

    (e)           the
Company will not, nor will it authorize any director or authorize or permit any
officer or employee or any attorney, accountant or other representative retained
by it to make, solicit, encourage any inquiries with respect to, or engage in
any negotiations concerning, any Acquisition Proposal (as defined below for
purposes of this paragraph). The Company will promptly advise Parent orally and
in writing of any such inquiries or proposals (or requests for information) and
the substance thereof. As used in this paragraph, “Acquisition Proposal”
shall mean any proposal for a merger or other business combination involving the
Company or for the acquisition of a substantial equity interest in it or any
material assets of it other than as contemplated by this Agreement. The Company
will immediately cease and cause to be terminated any existing activities,
discussions or negotiations with any Person conducted heretofore with respect to
any of the foregoing; and

     

    
      
         

      

      
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    (f)           the
Company will not enter into any new employment agreements with any of its
officers or employees or grant any increases in the compensation or benefits of
its officers and employees or amend any employee benefit plan or
arrangement.

     

    Section
5.02                      Conduct of Business by
Parent and Acquisition Corp. Pending the Merger. Prior to the Effective
Time, unless the Company shall otherwise agree in writing or as otherwise
contemplated by this Agreement:

     

    (a)           the
business of Parent and Acquisition Corp. shall be conducted only in the ordinary
course; provided, however, that Parent
shall take the steps necessary to have discontinued its existing business
without liability to Parent or Acquisition Corp. immediately following the
Effective Time;

     

    (b)           neither
Parent nor Acquisition Corp. shall (i) directly or indirectly redeem, purchase
or otherwise acquire or agree to redeem, purchase or otherwise acquire any
shares of its capital stock; (ii) amend its charter or by-laws other than to
effectuate the transactions contemplated hereby; or (iii) split, combine or
reclassify its capital stock or declare, set aside or pay any dividend payable
in cash, stock or property or make any distribution with respect to such
stock;

     

    (c)           neither
Parent nor Acquisition Corp. shall (i) issue or agree to issue any additional
shares of, or options, warrants or rights of any kind to acquire shares of, its
capital stock; (ii) acquire or dispose of any assets other than in the ordinary
course of business (except for dispositions in connection with Section 5.02(a)
hereof); (iii) incur additional Indebtedness or any other liabilities or enter
into any other transaction except in the ordinary course of business; (iv) enter
into any contract, agreement, commitment or arrangement with respect to any of
the foregoing or (v) except as contemplated by this Agreement, enter into any
contract, agreement, commitment or arrangement to dissolve, merge, consolidate
or enter into any other material business contract or enter into any
negotiations in connection therewith;

     

    (d)           neither
Parent nor Acquisition Corp. will, nor will they authorize any director or
authorize or permit any officer or employee or any attorney, accountant or other
representative retained by them to, make, solicit, encourage any inquiries with
respect to, or engage in any negotiations concerning, any Acquisition Proposal
(as defined below for purposes of this paragraph). Parent will promptly advise
the Company orally and in writing of any such inquiries or proposals (or
requests for information) and the substance thereof. As used in this paragraph,
“Acquisition
Proposal” shall mean any proposal for a merger or other business
combination involving Parent or Acquisition Corp. or for the acquisition of a
substantial equity interest in either of them or any material assets of either
of them other than as contemplated by this Agreement. Parent will immediately
cease and cause to be terminated any existing activities, discussions or
negotiations with any Person conducted heretofore with respect to any of the
foregoing; and

     

    
      
         

      

      
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    (e)           neither
Parent nor Acquisition Corp. will enter into any new employment agreements with
any of their officers or employees or grant any increases in the compensation or
benefits of their officers and employees.

     

    ARTICLE
VI.

     

    ADDITIONAL
AGREEMENTS

     

    Section
6.01                      Access and
Information.  The Company, on the one hand, and Parent and
Acquisition Corp., on the other hand, shall each afford to the other and to the
other’s accountants, counsel and other representatives full access during normal
business hours throughout the period prior to the Effective Time to all of its
properties, books, contracts, commitments and records (including but not limited
to tax returns) and during such period, each shall furnish promptly to the other
all information concerning its business, properties and personnel as such other
party may reasonably request, provided that no investigation pursuant to this
Section 6.01 shall affect any representations or warranties made herein. Each
party shall hold, and shall cause its employees and agents to hold, in
confidence all such information (other than such information that (a) is already
in such party’s possession or (b) becomes generally available to the public
other than as a result of a disclosure by such party or its directors, officers,
managers, employees, agents or advisors or (c) becomes available to such party
on a non-confidential basis from a source other than a party hereto or its
advisors, provided that such source is not known by such party to be bound by a
confidentiality agreement with or other obligation of secrecy to a party hereto
or another party until such time as such information is otherwise publicly
available; provided, however, that (i) any
such information may be disclosed to such party’s directors, officers, employees
and representatives of such party’s advisors who need to know such information
for the purpose of evaluating the transactions contemplated hereby (it being
understood that such directors, officers, employees and representatives shall be
informed by such party of the confidential nature of such information), (ii) any
disclosure of such information may be made as to which the party hereto
furnishing such information has consented in writing and (iii) any such
information may be disclosed pursuant to a judicial, administrative or
governmental order or request; provided, further, that the
requested party will promptly so notify the other party so that the other party
may seek a protective order or appropriate remedy and/or waive compliance with
this Agreement and if such protective order or other remedy is not obtained or
the other party waives compliance with this provision, the requested party will
furnish only that portion of such information that is legally required and will
exercise its best efforts to obtain a protective order or other reliable
assurance that confidential treatment will be accorded the information
furnished. If this Agreement is terminated, each party will deliver to the other
all documents and other materials (including copies) obtained by such party or
on its behalf from the other party as a result of this Agreement or in
connection herewith, whether so obtained before or after the execution
hereof.

     

    Section
6.02                      Additional
Agreements.  Subject to the terms and conditions herein
provided, each of the parties hereto agrees to use its commercially reasonable
efforts to take, or cause to be taken, all action and to do, or cause to be
done, all things necessary, proper or advisable under applicable laws and
regulations to consummate and make effective the transactions contemplated by
this Agreement, including using its commercially reasonable

     

    
      
         

      

      
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    efforts
to satisfy the conditions precedent to the obligations of any of the parties
hereto, to obtain all necessary waivers, and to lift any injunction or other
legal bar to the Merger (and, in such case, to proceed with the Merger as
expeditiously as possible). In order to obtain any necessary governmental or
regulatory action or non-action, waiver, consent, extension or approval, each of
Parent, Acquisition Corp. and the Company agrees to take all reasonable actions
and to enter into all reasonable agreements as may be necessary to obtain timely
governmental or regulatory approvals and to take such further action in
connection therewith as may be necessary. In case at any time after the
Effective Time any further action is necessary or desirable to carry out the
purposes of this Agreement, the proper officers and/or directors of Parent,
Acquisition Corp. and the Company shall take all such necessary
action.

     

    Section
6.03                      Publicity.  No
party shall issue any press release or public announcement pertaining to the
Merger that has not been agreed upon in advance by Parent and the Company,
except as Parent reasonably determines to be necessary in order to comply with
the rules of the Commission or of the principal trading exchange or market for
the Parent Common Stock, provided, that in such case Parent will use its best
efforts to allow the Company to review and reasonably approve any such press
release or public announcement prior to its release.

     

    Section
6.04                      Appointment of Directors and
Officers.  Immediately at the Effective Time, Parent shall
accept the resignations of the current officers and directors of Parent, and
shall cause the persons listed as directors in Exhibit D hereto to
be elected to the Board of Directors of Parent. At the first annual meeting of
Parent stockholders and thereafter, the election of members of Parent’s Board of
Directors shall be accomplished in accordance with the By-laws of Parent and the
rules of the Commission.

     

    ARTICLE
VII.

     

    CONDITIONS
TO PARTIES’ OBLIGATIONS

     

    Section
7.01                      Conditions to Parent and
Acquisition Corp. Obligations.  The obligations of Parent and
Acquisition Corp. under the Merger Documents are subject to the fulfillment, at
or prior to the Closing, of the following conditions, any of which may be waived
in whole or in part by Parent:

     

    (a)           The
representations and warranties of the Company under this Agreement shall be
deemed to have been made again on the Closing Date and shall then be true and
correct in all material respects.

     

    (b)           The
Company shall have performed and complied in all material respects with all
agreements and conditions required by this Agreement to be performed or complied
with by it on or before the Closing Date.

     

    (c)           There
shall not exist on the Closing Date any Default (as defined below) or Event of
Default (as defined below) or any event or condition that, with the giving of
notice or lapse of time or both, would constitute a Default or Event of Default
and, since the Company Balance Sheet Date, there shall have been no material
adverse change in the Condition of the Company. For purposes of this Agreement,
“Default” shall
mean a default or failure in the due observance or performance of any covenant,
condition or agreement on the part of a party to be

     

    
      
         

      

      
        28

        
          

        

      

      
         

      

    

    observed
or performed under the terms of the Merger Documents, if such default or failure
in performance shall remain un-remedied for five (5) days. Furthermore, for
purposes of this Agreement, “Event of Default”
shall mean (i) the failure to pay any Indebtedness for Borrowed Money, or any
interest or premium thereon, within five (5) days after the same shall become
due, whether such Indebtedness shall become due by scheduled maturity, by
required prepayment, by acceleration, by demand or otherwise, (ii) an event of
default under any agreement or instrument evidencing or securing or relating to
any such Indebtedness or (iii) the failure to perform or observe any material
term, covenant, agreement or condition on its part to be performed or observed
under any agreement or instrument evidencing or securing or relating to any such
Indebtedness when such term, covenant or agreement is required to be performed
or observed.

     

    (d)           No
action or proceeding before any court, governmental body or agency shall have
been threatened, asserted or instituted to restrain or prohibit, or to obtain
substantial damages in respect of, the Merger Documents or the carrying out of
the transactions contemplated by the Merger Documents.

     

    (e)           Parent
and Acquisition Corp. shall have received the following:

     

    (i)           copies
of resolutions of the Board of Directors and the Stockholders, certified by the
Secretary of the Company, authorizing and approving the execution, delivery and
performance of the Merger Documents and all other documents and instruments to
be delivered pursuant thereto;

     

    (ii)           a
certificate of incumbency executed by the Secretary of the Company certifying
the names, titles and signatures of the officers authorized to execute any
documents referred to in this Agreement and further certifying that the Charter
of the Company delivered to Parent and Acquisition Corp. at the time of the
execution of this Agreement have been validly adopted and have not been amended
or modified;

     

    (iii)           a
certificate, dated the Closing Date, executed by the Chief Executive Officer of
the Company certifying that he has no knowledge of any plan to issue any
securities of the Company, and the Company has not entered into any agreement,
written or oral, to issue any securities of the Company except as described in
the Disclosures or this Agreement;

     

    (iv)           evidence
as of a recent date of the good standing and corporate existence of the Company
issued by the Russian Federation and evidence that the Company is qualified to
transact business as a foreign corporation and is in good standing in each state
of the United States and in each other jurisdiction where the character of the
property owned or leased by it or the nature of its activities makes such
qualification necessary; and

     

    (v)           such
additional supporting documentation and other information with respect to the
transactions contemplated hereby as Parent and Acquisition Corp. may reasonably
request.

     

    
      
         

      

      
        29

        
          

        

      

      
         

      

    

    (f)           All
corporate and other proceedings and actions taken in connection with the
transactions contemplated hereby and all certificates, opinions, agreements,
instruments and documents mentioned herein or incident to any such transactions
shall be reasonably satisfactory in form and substance to Parent and Acquisition
Corp. The Company shall furnish to Parent and Acquisition Corp. such supporting
documentation and evidence of the satisfaction of any or all of the conditions
precedent specified in this Section 7.01 as Parent or its counsel may reasonably
request.

     

    Section
7.02                      Conditions to the Company’s
Obligations.  The obligations of the Company under the Merger
Documents are subject to the fulfillment, at or prior to the Closing, of the
following conditions, any of which may be waived in whole or in part by the
Company.

     

    (a)           The
representations and warranties of Parent and Acquisition Corp. under this
Agreement shall be deemed to have been made again on the Closing Date and shall
then be true and correct in all material respects.

     

    (b)           Parent
and Acquisition Corp. shall have performed and complied in all material respects
with all agreements and conditions required by the Merger Documents to be
performed or complied with by them on or before the Closing Date.

     

    (c)           There
shall not exist on the Closing Date any Default or Event of Default or any event
or condition that, with the giving of notice or lapse of time or both, would
constitute a Default or Event of Default and, since the Parent Balance Sheet
Date, there shall have been no material adverse change in the Condition of the
Parent.

     

    (d)           The
Company shall have received the following:

     

    (i)           copies
of resolutions of Parent’s and Acquisition Corp.’s respective boards of
directors and the sole stockholder of Acquisition Corp., certified by their
respective Secretaries, authorizing and approving, to the extent applicable, the
execution, delivery and performance of the Merger Documents and all other
documents and instruments to be delivered by them pursuant thereto;

     

    (ii)           a
certificate of incumbency executed by the respective Secretaries of Parent and
Acquisition Corp. certifying the names, titles and signatures of the officers
authorized to execute the documents referred to in this Agreement and further
certifying that the Certificates of Incorporation and By-Laws of Parent and
Acquisition Corp. appended thereto have not been amended or
modified.

     

    (iii)           a
certificate, dated the Closing Date, executed by the President or Chief
Executive Officer of each of the Parent and Acquisition Corp., certifying that
(A) except for the filing of the Articles of Merger, all consents,
authorizations, orders and approvals of, and filings and registrations with, any
court, governmental body or instrumentality that are required for the execution
and delivery of the Merger Documents and the consummation of the Merger shall
have been duly made or obtained, and all material consents by third parties
required for the Merger have been obtained and (B) no action or proceeding
before any court, governmental body or agency has been threatened, asserted or
instituted to restrain or prohibit, or to obtain substantial damages in respect
of, the Merger Documents or the carrying out of the transactions contemplated by
any of the Merger Documents;

     

    
      
         

      

      
        30

        
          

        

      

      
         

      

    

    (iv)           a
certificate from the  Parent’s transfer agent and registrar,
certifying, as of the business day prior to the Closing Date, a true and
complete list of the names and addresses of the record owners of all of the
outstanding shares of Parent Common Stock, together with the number of shares of
Parent Common Stock held by each record owner and the total number of shares of
Parent Common Stock then outstanding;

     

    (v)           the
executed resignations of all directors and officers of Parent, with the director
resignations to take effect at the Closing Date;

     

    (vi)           evidence
as of a recent date and within five (5) days of the Effective Date of the good
standing and corporate existence of each of Parent and Acquisition Corp. issued
by the Secretary of State of the State of Nevada and evidence that Parent and
Acquisition Corp. are qualified to transact business as foreign corporations and
are in good standing in each state of the United States and in each other
jurisdiction where the character of the property owned or leased by them or the
nature of their activities makes such qualification necessary; and

     

    (vii)           such
additional supporting documentation and other information with respect to the
transactions contemplated hereby as the Company may reasonably
request.

     

    (e)           All
corporate and other proceedings and actions taken in connection with the
transactions contemplated hereby and all certificates, opinions, agreements,
instruments and documents mentioned herein or incident to any such transactions
shall be satisfactory in form and substance to the Company. Parent and
Acquisition Corp. shall furnish to the Company such supporting documentation and
evidence of satisfaction of any or all of the conditions specified in this
Section 7.02 as the Company may reasonably request.

     

    (f)           No
action or proceeding before any court, governmental body or agency shall have
been threatened, asserted or instituted to restrain or prohibit, or to obtain
substantial damages in respect of, the Merger Documents or the carrying out of
the transactions contemplated by the Merger Documents.

     

    ARTICLE
VIII.

     

    INDEMNIFICATION
AND RELATED MATTERS

     

    Section
8.01                      Indemnification by
Parent. Parent shall indemnify and hold harmless the Company and the
Stockholders (together the “Company Indemnified
Parties”), and shall reimburse the Company Indemnified Parties for, any
loss, liability, claim, damage, expense (including, but not limited to, costs of
investigation and defense and reasonable attorneys’ fees) or diminution of value
(collectively, “Damages”) arising
from or in connection with (a) any inaccuracy, in any material respect, in any
of the representations and warranties of Parent and Acquisition Corp. in this
Agreement or in any certificate delivered by Parent and Acquisition Corp. to the
Company pursuant to this Agreement, or any actions, omissions or statements of
fact inconsistent with any such representation or warranty, (b) any failure by
Parent or Acquisition Corp. to perform or comply in any material respect with
any covenant or agreement in this Agreement, (c) any claim for brokerage or
finder’s fees or commissions or similar payments based upon any agreement or
understanding alleged to have been made by any such party with

     

    
      
         

      

      
        31

        
          

        

      

      
         

      

    

    Parent or
Acquisition Corp. in connection with any of the transactions contemplated by
this Agreement, (d) taxes attributable to any transaction or event occurring on
or prior to the Closing, (e) any claim relating to or arising out of any
liabilities reflected in the Parent Financial Statement or with respect to
accounting fees arising thereafter or (f) any litigation, action, claim,
proceeding or investigation by any third party relating to or arising out of the
business or operations of Parent, or the actions of Parent or any holder of
Parent capital stock prior to the Effective Time.

     

    Section
8.02                      Survival. All
representations, warranties, covenants and agreements of Parent and Acquisition
Corp. contained in this Agreement or in any certificate delivered pursuant to
this Agreement shall survive the Closing for the time period set forth in
Section 8.03 notwithstanding any investigation conducted with respect thereto.
The representations and warranties of the Company contained in this Agreement or
in any certificate delivered pursuant to this Agreement shall not survive the
Closing.

     

    Section
8.03                      Time Limitations.
Neither Parent nor Acquisition Corp. shall have any liability (for
indemnification or otherwise) with respect to any representation or warranty, or
agreement to be performed and complied with prior to the Effective Time, unless
on or before the two-year anniversary of the Effective Time (the “Claims Deadline”),
Parent is given notice of a claim with respect thereto, in accordance with
Section 8.05, specifying the factual basis therefor in reasonable detail to the
extent then known by the Company Indemnified Parties.

     

    Section
8.04                      Limitation on
Liability. The obligations of Parent and Acquisition Corp. to the Company
Indemnified Parties set forth in Section 8.01 shall be subject to the following
limitations:

     

    (a)           The
aggregate liability of Parent and Acquisition Corp. to the Company Indemnified
Parties under this Agreement shall be payable by the issuance of additional
shares of Parent Common Stock pursuant to Section 8.06.

     

    (b)           Other
than claims based on fraud or for specific performance, injunctive or other
equitable relief, the indemnity provided in this Article VIII shall be the sole
and exclusive remedy of the Company Indemnified Parties against Parent and
Acquisition Corp. at law or equity for any matter covered by Section
8.01.

     

    Section
8.05                      Notice of
Claims.

     

    (a)           If,
at any time on or prior to the Claims Deadline, any of the Company Indemnified
Parties shall assert a claim for indemnification pursuant to Section 8.01, such
Company Indemnified Party shall submit to Parent a written claim in good faith
signed by an authorized officer of the Company or other Company Indemnified
Party, as applicable, stating (i) that a Company Indemnified Party incurred or
reasonably believes it may incur Damages and the reasonable estimate of the
amount of any such Damages; (ii) in reasonable detail, the facts alleged as the
basis for such claim and the section or sections of this Agreement alleged as
the basis or bases for the claim; and (iii) if the Damages have actually been
incurred, the number of additional shares of Parent Common Stock to which the
Stockholders are entitled to with respect to such Damages, which shall be
determined as provided in Section 8.06 below. If the claim is

     

    
      
         

      

      
        32

        
          

        

      

      
         

      

    

    for
Damages which the Company Indemnified Parties reasonably believe may be incurred
or are otherwise un-liquidated, the written claim of the applicable Company
Indemnified Party shall state the reasonable estimate of such Damages, in which
event a claim shall be deemed to have been asserted under this Article VIII in
the amount of such estimated Damages, but no distribution of additional shares
of Parent Common Stock to the Stockholders pursuant to Section 8.06 below shall
be made until such Damages have actually been incurred.

     

    (b)           In
the event that any action, suit or proceeding is brought against any Company
Indemnified Party with respect to which Parent may have liability under this
Article VIII, Parent shall have the right, at its cost and expense, to defend
such action, suit or proceeding in the name and on behalf of the Company
Indemnified Party; provided, however, that a
Company Indemnified Party shall have the right to retain its own counsel, with
fees and expenses paid by Parent, if representation of the Company Indemnified
Party by counsel retained by Parent would be inappropriate because of actual or
potential differing interests between Parent and the Company Indemnified Party.
In connection with any action, suit or proceeding subject to Article VIII,
Parent and each Company Indemnified Party agree to render to each other such
assistance as may reasonably be required in order to ensure proper and adequate
defense of such action, suit or proceeding. Parent shall not, without the prior
written consent of the applicable Company Indemnified Party, which consent shall
not be unreasonably withheld or delayed, settle or compromise any claim or
demand if such settlement or compromise does not include an irrevocable and
unconditional release of such Company Indemnified Party for any liability
arising out of such claim or demand.

     

    Section
8.06                      Payment of Damages.
In the event that the Company Indemnified Parties shall be entitled to
indemnification pursuant to this Article VIII for actual Damages incurred by
them, Parent shall, within thirty (30) days after the final determination of the
amount of such Damages, issue to the Stockholders that number of additional
shares of Parent Common Stock in an aggregate amount equal to the quotient
obtained by dividing (x) the amount of such Damages by (y) the Fair Market Value
per share of the Parent Common Stock as of the date (the “Determination Date”)
of the submission of the notice of claim to Parent pursuant to Section 8.05.
Such shares of Parent Common Stock shall be issued to the Stockholders pro rata,
in proportion to the number of shares of Parent Common Stock issued (or
issuable) to the Stockholders at the Effective Time. For purposes of this
Section 8.06, “Fair
Market Value” shall mean, with respect to a share of Parent Common Stock
on any Determination Date, the average of the daily closing prices for the 10
consecutive business days prior to such date. The closing price for each day
shall be the last sales price or in case no sale takes place on such day, the
average of the closing high bid and low asked prices, in either case (a) as
officially quoted on the OTC Bulletin Board, the NYSE Amex, the NASDAQ Stock
Market or such other market on which the Parent Common Stock is then listed for
trading or quoted, or (b) if, in the reasonable judgment of the Board of
Directors of Parent, the OTC Bulletin Board, the NYSE Amex or the NASDAQ Stock
Market is no longer the principal United States market for the Parent Common
Stock, then as quoted on the principal United States market for the Parent
Common Stock as determined by the Board of Directors of Parent, or (c) if, in
the reasonable judgment of the Board of Directors of Parent, there exists no
principal United States market for the Parent Common Stock, then as reasonably
determined in good faith by the Board of Directors of Parent.

     

    
      
         

      

      
        33

        
          

        

      

      
         

      

    

    

     

    ARTICLE
IX.

     

    TERMINATION
PRIOR TO CLOSING

     

    Section
9.01                      Termination of
Agreement.  This Agreement may be terminated at any time prior
to the Closing:

     

    (a)           by
the mutual written consent of the Company, Acquisition Corp. and
Parent;

     

    (b)           by
the Company, if Parent or Acquisition Corp. (i) fails to perform in any material
respect any of its agreements contained herein required to be performed by it on
or prior to the Closing Date, or (ii) materially breach any of their
representations, warranties or covenants contained herein, which failure or
breach is not cured within thirty (30) days after the Company has notified
Parent and Acquisition Corp. of its intent to terminate this Agreement pursuant
to this paragraph (b);

     

    (c)           by
Parent and Acquisition Corp. if the Company (i) fails to perform in any material
respect any of its agreements contained herein required to be performed by it on
or prior to the Closing Date or (ii) materially breaches any of its
representations, warranties or covenants contained herein, which failure or
breach is not cured within thirty (30) days after Parent or Acquisition Corp.
has notified the Company of its intent to terminate this Agreement pursuant to
this paragraph (c);

     

    (d)           by
either the Company, on the one hand, or Parent and Acquisition Corp., on the
other hand, if there shall be any order, writ, injunction or decree of any court
or governmental or regulatory agency binding on Parent, Acquisition Corp. or the
Company that prohibits or materially restrains any of them from consummating the
transactions contemplated hereby, provided that the parties hereto shall have
used their best efforts to have any such order, writ, injunction or decree
lifted and the same shall not have been lifted within ninety (90) days after
entry by any such court or governmental or regulatory agency; or

     

    (e)           by
either the Company, on the one hand, or Parent and Acquisition Corp., on the
other hand, if the Closing has not occurred on or prior to December 31, 2009 ,
or such later date, which shall be no later than January 31, 2010, for any
reason other than delay or nonperformance of the party seeking such
termination.

     

    Section
9.02                      Termination of
Obligations.  Termination of this Agreement pursuant to this
Article IX shall terminate all obligations of the parties hereunder, except for
the obligations under Sections 6.01, 10.03 and 10.11; provided, however, that
termination pursuant to paragraphs (b) or (c) of Section 9.01 shall not relieve
the defaulting or breaching party or parties from any liability to the other
parties hereto.

     

    
      
         

      

      
        34

        
          

        

      

      
         

      

    

    

     

    ARTICLE
X.

     

    MISCELLANEOUS

     

    Section
10.01                                Notices.  Any
notice, request or other communication hereunder shall be given in writing and
shall be served either personally, by overnight delivery or delivered by mail,
certified return receipt and addressed to the following addresses:

     

    (a)           If
to Parent or Acquisition Corp.:

    Caribbean
Villa Catering Corporation

    38 Playa
Laguna

    Sausa,
Dominican Republic

    Attention:
Robert Seeley

    

    With a
copy to:

    

    Roxanne
K. Beilly, Esq.

    Schneider
Weinberger & Beilly LLP

    2200
Corporate Blvd., N.W., Suite 210

    Boca
Raton, FL 33431

    

    (b)           If
to the Company:

     

    CJSC
Globotek

     

    With a
copy to:

     

    Sichenzia
Ross Friedman Ference LLP

    61
Broadway, 32nd Floor

    New York,
New York 10006

    Attention:
Andrea Cataneo, Esq.

     

    Notices
shall be deemed received at the earlier of actual receipt or three (3) business
days following mailing. Counsel for a party (or any authorized representative)
shall have authority to accept delivery of any notice on behalf of such
party.

     

    Section
10.02                                Entire
Agreement.  This Agreement, including the schedules and
exhibits attached hereto and other documents referred to herein, contains the
entire understanding of the parties hereto with respect to the subject matter
hereof. This Agreement supersedes all prior agreements and undertakings between
the parties with respect to such subject matter.

     

    Section
10.03                                Expenses.  Each
party shall bear and pay all of the legal, accounting and other expenses
incurred by it in connection with the transactions contemplated by this
Agreement.

     

    Section
10.04                                Time.  Time
is of the essence in the performance of the parties’ respective obligations
herein contained.

     

    
      
         

      

      
        35

        
          

        

      

      
         

      

    

    Section
10.05                                Severability.  Any
provision of this Agreement that is prohibited or unenforceable in any
jurisdiction shall, as to such jurisdiction, be ineffective to the extent of
such prohibition or unenforceability without invalidating the remaining
provisions hereof, and any such prohibition or unenforceability in any
jurisdiction shall not invalidate or render unenforceable such provision in any
other jurisdiction.

     

    Section
10.06                                Successors and
Assigns.  This Agreement shall be binding upon and inure to the
benefit of the parties hereto and their respective successors, assigns and
heirs; provided, however, that neither party shall directly or indirectly
transfer or assign any of its rights hereunder in whole or in part without the
written consent of the others, which may be withheld in its sole discretion, and
any such transfer or assignment without said consent shall be void.

     

    Section
10.07                                No Third Parties
Benefited.  This Agreement is made and entered into for the
sole protection and benefit of the parties hereto, their successors, assigns and
heirs, and no other Person shall have any right or action under this
Agreement.

     

    Section
10.08                                Counterparts.  This
Agreement may be executed in one or more counterparts, with the same effect as
if all parties had signed the same document. Each such counterpart shall be an
original, but all such counterparts together shall constitute a single
agreement.

     

    Section
10.09                                Recitals, Schedules and
Exhibits.  The Recitals, Schedules and Exhibits to this
Agreement are incorporated herein and, by this reference, made a part hereof as
if fully set forth herein.

     

    Section
10.10                                Section Headings and
Gender.  The Section headings used herein are inserted for
reference purposes only and shall not in any way affect the meaning or
interpretation of this Agreement. All personal pronouns used in this Agreement
shall include the other genders, whether used in the masculine, feminine or
neuter gender, and the singular shall include the plural, and vice versa,
whenever and as often as may be appropriate.

     

    Section
10.11                                Governing
Law.  This Agreement shall be governed by and construed and
enforced in accordance with the internal laws of the State of New York without
regard to principles of conflicts of laws, except that the applicable terms of
Section 1 shall be governed by the NRS.

     

    [Signature
Page Follows]

     

    

     

    

     

    
      
         

      

      
        36

        
          

        

      

      
         

      

    

    IN
WITNESS WHEREOF, the parties hereto have executed this Agreement to be binding
and effective as of the day and year first above written.

     

    PARENT:

    CARIBBEAN
VILLA CATERING CORPORATION

    

    

    By:/s/ Robert
Seeley

         Name:
Robert Seeley

         Title:
President

    

    ACQUISITION
CORP:

    GLOBOTEK
ACQUISITION CORP.

    

    

    By:/s/ Robert
Seeley

         Name:
Robert Seeley

         Title:
President

    

    COMPANY:

    CJSC
GLOBOTEK

    

    

    By:/s/ Tanebaum Vladisav
Feliksovich

         Name:  Tanebaum
Vladisav Feliksovich

         Title:  President

     

     

     

    [SIGNATURE
PAGE TO AGREEMENT OF MERGER AND PLAN OF REORGANIZATION]

     

    

     

    

     

    

     

    

     

    

     

    

     

    

     

    
      
         

      

      
        37

        
          

        

      

      
         

      

    

    

    

     

    Schedule
1.06(a)(ii)

     

    

     

    

     

    
      	
              No
      

            	
              Individuals

            	
              Number
      of Shares Held

            	
              Share
      in the charter capital (%)

            
	
              1

            	
              Lukin
      Dmitry Viktorovich

            	
              14

            	
              14

            
	
              2

            	
              Lukin
      Alexander Viktorovich

            	
              14

            	
              14

            
	
              3

            	
              Lukin
      Sergey Viktorovich

            	
              14

            	
              14

            
	
              4

            	
              Lapkin
      Alexander Nikolaevich

            	
              14

            	
              14

            
	
              5

            	
              Lapkin
      Sergey Alexandrovich

            	
              14

            	
              14

            
	
              6

            	
              Chernykh
      Elena Alexandrovna

            	
              14

            	
              14

            
	
              7

            	
              Tenenbaum
      Vladislav

            	
              14

            	
              14

            
	
              8

            	
              Aksutin
      Alexandre Vladimirovich

            	
              2

            	
              2

            

    

    

     

    
      
         

      

      
        38

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