Document:

exhibit_10-3.htm

    
      

    

    EXHIBIT
      10.3

    

    ACCORD
      AND SATISFACTION

    

    

    This
      Agreement (“Agreement”) is made and entered into effective this 11th day of
      October,
      2006, by and between Russell H. Ritchie, Dale E. Riker, Suntine Enterprises,
      LLC, and Cornerstone Wireless Communications, LLC (hereinafter referred to
      collectively as “Russell and Group”) and Studio One Media, Inc., (f/k/a
      Dimensional Visions Incorporated), a Delaware corporation (hereinafter referred
      to as “SOMD” or the “Company”), with reference to the following:

    

    WHEREAS,
      the parties hereto did heretofore enter into that one certain Settlement
      Agreement and Release dated April 30, 2003 (the “Settlement Agreement”), which
      agreement is, by this reference, incorporated herein for all purposes;
      and

    

    WHEREAS,
      the parties hereto desire to conclude all matters covered by, referred to in,
      or
      giving rise to the Settlement Agreement, and other matters between the parties,
      leaving nothing unsettled or open to question;

    

    NOW,
      THEREFORE, in consideration of the promises and mutual covenants contained
      herein, and subject to the terms and conditions set forth herein, the parties
      hereby agree as follows:

    

    
      	
              1.

            	
              The
                Company shall issue, or cause to be issued, to Russell and Group,
                One
                Hundred Thirty Seven Thousand Five Hundred (137,500) shares of restricted
                common stock, $0.001 par value, of SOMD (the
                “Shares”).

            

    

    

    
      	
              2.

            	
              Russell
                and Group agrees to accept the Shares in full and complete settlement
                and
                satisfaction of all covenants, representations, warranties, obligations,
                liabilities, costs and expenses provided for in the Settlement Agreement,
                or referred to therein, or any document giving rise thereto including,
                but
                not limited to, any promissory notes, guarantees, lines of credit
                agreements or other financing
                agreements.

            

    

    

    
      	
              3.

            	
              Certificates
                evidencing the Shares shall be issued in the following names and
                amounts:

            

    

    

     

    
      	 Russell
              H. Ritchie	 53,000
              shares
	 Russell
              H. Ritchie	 40,900
              shares
	 Cornerstone
              Wireless Communications, LLC	 23,600
              shares
	 Fidelity
              Insurance Company, Ltd, FBO SA 0456	 20,000
              shares
	 Total 	 137,500
              shares

    

    
 

    
      	
              4.

            	
              The
                Shares, when issued shall be deemed fully paid and non-assessable
                and
                without any restriction of any nature other than as shall be imposed
                by
                Rule 144 promulgated under the Securities Exchange Act of 1933, as
                amended.

            

    

    

    
      	
              5.

            	
              Each
                time that the Company proposes to Register a public offering solely
                of its
                Common Stock (not including an offering of Common stock issuable
                upon
                conversion or exercise of other securities), other than pursuant
                to a
                Registration Statement on Form S-4 or Form S-8 or similar or successor
                forms (collectively,"Excluded Forms"), the Company shall promptly
                give
                written notice of such proposed Registration to all holders of Shares,
                which shall offer such holders the right to request inclusion of
                any
                Registrable Securities in the proposed Registration.  The holder
                may request inclusion of any Registrable Shares in such Company
                Registration by delivering to the Company, within 10 days after receipt
                of
                the Registration Notice, a written notice (the "Piggyback Notice")
                stating
                the number of Registrable Shares proposed to be included and that
                such
                shares are to be included in any underwriting only on the same terms
                and
                conditions as the shares of Common Stock otherwise being sold through
                underwriters under such Registration. The Company shall use its reasonable
                efforts to cause all Registrable Shares specified in the Piggyback
                Notice
                to be included in the Company Registration and any related offering,
                all
                to the extent requisite to permit the sale by the holder of such
                Registrable Shares
                in accordance with the method of sale applicable to the other shares
                of
                Common Stock included in the Company
                Registration.

            

    

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      
ACCORD AND SATISFACTION

     

    
      	
              6.

            	
              Russell
                and Group, and each person comprising such group, on behalf of
                himself/itself and on behalf of their respective attorneys, accountants,
                insurers, agents, personal representatives, survivors, heirs, successors,
                and assigns, hereby releases and forever discharges the Company and
                its
                past and present affiliates and subsidiaries, and their respective
                officers, directors, shareholders, partners, principals, employees,
                attorneys, accountants, consultants, insurers, agents, representatives,
                servants, predecessors, successors, heirs and assigns (collectively,
                "the
                Company Parties"), of and from any and all claims, debt, demands,
                obligations, losses, actions and causes of action, costs, expenses,
                attorneys' fees and liabilities of any nature whatsoever, whether
                based on
                contract, tort, statutory or other legal or equitable theory of recovery,
                whether known or unknown, which the Russell and Group, or any member
                thereof, has, had or claims to have against any or all of the Company
                Parties, including but not limited to (i) covenants, representations,
                warranties, obligations, liabilities, costs and expenses provided
                for in
                the Settlement Agreement, or any document referred to in or giving
                rise to
                the Settlement Agreement including, but not limited to, any promissory
                notes, guarantees, lines of credit agreements or other financing
                agreements, (ii) any business or personal relationship between the
                parties
                prior to the date of this Release, or (iii) other monetary or other
                valuable consideration claimed, whether accrued or not, from the
                beginning
                of time to the effective date of this
                Agreement.

            

    

    

    
      	
              7.

            	
              The
                Company, on behalf of itself and its past and present affiliates
                and
                subsidiaries, and their respective officers, directors, shareholders,
                partners, principals, employees, attorneys, accountants, consultants,
                insurers, agents, representatives, servants, predecessors, successors,
                heirs and assigns (collectively, “the Russell Parties”), hereby releases
                and forever discharges Russell and Group, and each person comprising
                such
                group, and their respective attorneys, accountants, insurers, agents,
                personal representatives, survivors, heirs, successors, and assigns,
                of
                and from any and all claims, debt, demands, obligations, losses,
                actions
                and causes of action, costs, expenses, attorneys' fees and liabilities
                of
                any nature whatsoever, whether based on contract, tort, statutory
                or other
                legal or equitable theory of recovery, whether known or unknown,
                which the
                Company has, had or claims to have against any or all of the Russell
                Parties, or any member thereof, including but not limited to any
                and all
                claims which relate to, arise from, or are in any manner connected
                to (i)
                covenants, representations, warranties, obligations, liabilities,
                costs
                and expenses provided for in the Settlement Agreement, or any document
                referred to in or giving rise to the Settlement Agreement including,
                but
                not limited to, any promissory notes, guarantees, lines of credit
                agreements or other financing agreements, (ii) any business or personal
                relationship between the parties prior to the date of this Release,
                or
                (iii) other monetary or other valuable consideration claimed, whether
                accrued or not, from the beginning of time to the effective date
                of this
                Agreement.

            

    

    

    
      	
              8.

            	
              Each
                party represents and warrants that he has the authority to enter
                into and
                be bound by this Agreement.

            

    

    

    
      	
              9.

            	
              This
                Agreement constitutes and embodies the full and complete understanding
                of
                the parties hereto with respect to the subject matter hereof and
                supersedes all prior or contempora­neous understandings,
                agree­ments or representa­tions, whether oral or in writing, and
                all such agree­ments shall be and hereby are deemed canceled and
                terminated and the terms thereof shall be null and void and this
                Agreement
                shall be the sole agreement between the parties hereto.  This
                Agreement may only be amended, modified or changed by written instrument
                executed by all parties hereto.

            

    

    

    
      	
              10.

            	
              In
                the event that any provision of this Agreement is rendered or declared
                to
                be partially or wholly invalid, illegal or unenforceable by subsequent
                legislation or by decree of a court of last resort, then such provision
                shall be deemed to be modified or restricted to the extent necessary
                to
                make such provision valid, binding and enforceable or, if such a
                provision
                cannot be modified or restricted in such a manner so as to make such
                provision valid, binding and enforceable, then such provision shall
                be
                deemed to be excised from this Agreement and the validity, binding
                effect
                and enforceability of the remaining provisions of this Agreement
                shall not
                be affected or impaired in any manner and shall remain in full force
                and
                effect.

            

    

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      
ACCORD AND SATISFACTION

    
      	
              11.

            	
              This
                Agreement shall be governed by, interpreted, performed and construed
                in
                accordance with the laws of the State of Arizona.  The State of
                Arizona, County of Maricopa shall be the jurisdiction, forum and
                venue for
                litigation, trial, arbitration or mediation of any dispute which
                may arise
                between the parties hereto concern­ing the formation, execution,
                performance or breach of this Agreement, or of any alleged tort arising
                from the transactions which form the subject matter
                hereof.

            

    

    

    
      	
              12.

            	
              This
                Agreement shall inure to the benefit of and be binding upon the parties
                hereto and their respective successors and
                assigns.

            

    

    

    
      	
              13.

            	
              Each
                of the parties agrees to execute, acknowl­edge and deliver all further
                instruments and documents and to take such further action as may
                be
                reason­ably required in order to effectuate the terms and purposes of
                this Agreement.

            

    

    

    
      	
              14.

            	
              Each
                of the parties hereto have independently consulted with legal counsel
                of
                its own selection in connection with the negotiation, preparation
                and
                execution of this Agreement, and is not relying upon the legal counsel
                of
                the other party in connection
                herewith.

            

    

    

    
      	
              15.

            	
              Any
                duly executed facsimile copy of this Agreement shall be deemed to
                be, and
                shall be, legally effective as though it were an original, pending
                the
                subsequent exchange of hard copy originals or counterparts duly executed
                by the parties hereto as may be required by law or agreed to in writing
                by
                all of the Parties hereto.

            

    

    

    
      	
              16.

            	
              This
                Agreement may be executed in any number of counterparts, each of
                which
                when executed and delivered shall be deemed an original, but all
                of which
                shall together constitute one and the same
                instrument.

            

    

    

    EXECUTED
      as of the date and year first above written.

    

    STUDIO
      ONE MEDIA, INC.

    

    
      	 /s/  Preston
              Shea	 	 /s/
              Russell H. Ritchie
	 Preston
              J. Shea, President 	 	 Russell
              H. Ritchie, Individually
	 	 	 
	 	 	 
	 	 	 /s/
              Dale E. Riker
	 	 	 Dale
              E. Riker, Individually
	 	 	 
	 	 	 
	 	 	 CORNERSTONE
              WIRELESS  COMMUNICATIONS,
              LLC.
	 	 	 
	 	 	 By: /s/
              Russell H. Ritchie
	 	 	 Russell
              H. Ritchie
	 	 	 Title: President
	 	 	 
	 	 	 
	 	 	 SUNTINE
              ENTERPRISES, LLC
	 	 	 
	 	 	 By:
              /s/ Larry Kohler
	 	 	 Larry
              Kohler
	 	 	 Title:
              Manager
	 	 	 
	 	 	 
	 	 	
              FIDELITY
                INSURANCE COMPANY, LTD.

            
	 	 	
               FBO
                Account # SA 0456

            
	 	 	 
	 	 	 By:/s/
              Larry Kohler
	 	 	 Larry
              Kohler
	 	 	 Title:
              Manager

    

    

     3China GengSheng Minerals Inc.: Exhibit 10.20 - Prepared by TNT Filings Inc.

  

EXHIBIT 10.20

SHORT-TERM LOAN AGREEMENT 

(English Summary/Translation) 

2007 Yuyin Loan No. 076002 

	
  Borrower:

	
  Henan Gengsheng Refractories Co., Ltd (the “Borrower”

	
  Legal Address:

	
  No.88, Dayugou Town, Gongyi City, 451271

	
  Telephone No. 

	
  371-64059868

	
  Fax No.

	
  371-64059888

	
  Representatives

	
  Sunqing Zhang

	
  Account No.

	
  7847391310182600048411

	
   
	
   

	
  Lender:

	
  China Citic Bank, Zhengzhou Branch (the “Lender”)

	
  Address:

	
  No. 26 Jingsan Road, Zhengzhou City, 45008

	
  Telephone No. 

	
  371-657-92800

	
  Fax No.

	
  371-657-92900

	
  Representatives

	
  Longxing Dou

	
   
	
   

Date: January 12, 2007

According to applicable laws and regulations of the People's Republic of China (the "PRC"), the Borrower and Lender hereby enter into this agreement pursuant to Borrower's application to Lender for a short term loan (the "Loan"). 

1. Loan Type

1.1 This agreement is the short -term loan agreement. 

2.The Amount of Loan and the Loan Term

2.1. The amount of this loan agreement is RMB 15,000,000(approximately US$ 1.97 million).

2.2. The loan term is 6 months starting from January 12, 2007
to July 31, 2007.

3. The Purpose of the Loan

3.1. The purpose of the loan agreement is for working capital use.  The Borrower is not eligible to change the loan purpose of this agreement without the consent of the Lender.

4. Interest Rate and Interest Calculation 

4.1.  The loan interest rate is calculated by daily at a rate based on the actual withdrawal amount and outstanding days from the withdrawal date. 

4.2. The RMB loan interest rate is a floating Interest Rate (upward/down) floating upward 20% on the interest rate basis.  The executed annual interest rate is 7.344%.  The interest rate can be adjusted on a monthly basis. 

4.3. The Lender shall send the written notice to the Borrower for any adjustment of interest rate within 30 days from the adjusted date.

 

 

4.4. The interested rate shall be accordingly adjusted based on any new adjustment regulated by the People’s Bank of China.

4.5. The first due date of interest payment is January 20, 2007. The due date of monthly interest payment is every 20th day of the month. 

5. The Method of Repayment 

5.1 The Borrower shall pay monthly interest and repay the loan with one payment of RMB 15,000,000 on July 31, 2007.

6. Guarantee

6.1 The loan specified hereunder shall be pledged and guaranteed through a joint liability Guarantee Contract as following:

(1)2006Xinyin PG No. 061182-1

(2)2006Xinyin PG No. 061182-2

(3)2006Xinyin GN No. 061182-1

(4)2006Xinyin GN No. 061182-2

6.2. The borrower undertakes to provide other new guaranty accepted by the Lender promptly upon occurrence or anticipated occurrence of the event which imposes material adverse effect on the financial condition and ability to implement the guarantee duty by the guarantor. 

7. Rights and Obligations

7.1. The Borrower’s:

7.1.1. The Borrower shall only use the funds according to the contracted purpose.

7.1.2. Unless the Borrower provides notice in writing to Lender 30 days in advance and obtains Lender's consent, the Borrower shall not, before paying off the principal and interest, engage in sub-contracting, leasing, equity restructuring, pooling, consolidating, merging, splitting, joint investment, capital transferring, filing for restructuring, filing for dissolution, filing for bankruptcy, and any other actions which may affect the realization of Lender's rights. 

7.1.3. The Borrower undertakes to inform the Lender in within 3 days from the date that a material adverse such as license revocation, bankruptcy, and close of the business occurs. 

7.1.4. The Borrower should inform the Lender in writing 7 days in advance if there is any change of its legal representative, authorized deputy and changes in mailing address, name of enterprise or material changes in its finances and personnel. 

7.1.5. The Borrower should provide a new guarantee to the Lender when there is
depreciation or reduction of values of the original guarantee, or when a
material adverse effect such as license revocation, bankruptcy, and close of the
business occurs in connection with a guarantor.

   

7.2. The Lender’s 

7.2.1. The Lender is eligible to investigate the Borrower’s operations and the usage of the loan. 

7.2.2. The Lender is eligible to claim for the balance of balance when the guarantee is not adequate to compensate the loan payment the Borrower was not able to repay.

8. Default Liability 

8.1. The Lender is eligible to enforce the agreement and require certain interest according to the contracted term of repayment if the Borrower repays the loan before the contracted term. 

8.2. The Lender shall increase 50% of interest rate if the Borrower does not repay the loan at the maturity date. The Borrower also needs to pay for the interest at the additional 50% of the original rate for this overdue violation.

8.3. The Lender is eligible to require the Borrower to return the funds or terminate the agreement if the Borrower use the funds beyond the contracted purpose. The Lender shall require the Borrower to pay an additional 100% of the original interest rate from the date of violation as the penalty for fraudulent use of the funds, and the Borrower also needs to pay the interest at an additional 100% of the original rate. 

8.4. The Lender shall require the partial or whole refund of the issued loan if the Borrower does not conduct any remedies within 7 days to meet the requirements of the Lender due to any of the following violations: 

8.4.1. if the Borrower provides fraudulent financial statements or deceptive material financial information.

8.4.2. if the Borrower rejects the supervision of the Lender regarding the funds usage and its financial activities.

8.4.3. if the Borrower conducts or intends to operate any events regarding equity transfer or dispose of its assets. 

8.4.4. if the Borrower’s executive officers are involved in any significant bribe, corruption, fraud or illegal operation events.

8.4.5. if the Borrower intentionally changes the use of the funds.

9. Disputes Settlement

This Agreement is applicable with laws of People’s Republic of China. Any dispute concerning this Loan Agreement is under the jurisdiction of the local people's court where Lender is located.

10. Effectiveness of Contract

10.1. Either the Borrower or the Lender is not eligible to change or terminate this agreement without mutual agreement in written. 

10.2. Upon the effectiveness, the Lender is obliged to notify the Borrower in writing and obtain its consent when the Lender intends to transfer the loan to the third party. The Borrower is also obliged to notify the Lender and obtain its written consent when the Borrower intends to transfer the loan to third party.

 

11. Others

11.1. Any supplemental related documents and materials are inseparable components of this loan agreement and have the same law effect as this contract. 

11.2. This Loan Contract has three originals, which are identical to each other, with each of the parties holding one copy. There are several duplicates for future reference. 

	
  Borrower:

	
   
	
   Lender:

   

	
  Henan Gengsheng Refractories Co., Ltd

	
   

	
  Zhengzhou Branch

	
   

	
   

	
  China Citic Bank

	
   

	
   

	
   

	
  (Official Corporate Seal)

	
   

	
  (Official Corporate Seal)

	
   

	
   

	
   

	
  /s/Shunqing ZHANG

	
   

	
    /s/Longxing Dou

	
   

	
   

	
   

	
  Date: January 12, 2007

	
   
	
  Date: January 12, 2007

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