Document:

Exhibit
10.9

       

    

    COLLEXIS
HOLDINGS, INC.

    FIRST
RESTATEMENT AND AMENDMENT OF

    SENIOR
EXECUTIVE EMPLOYMENT AGREEMENT

    

    THIS FIRST RESTATEMENT AND AMENDMENT
OF SENIOR EXECUTIVE EMPLOYMENT AGREEMENT (“Agreement”) is entered into as
of the 20th day of August 2009, by and between Collexis Holdings, Inc., a Nevada
corporation (“Company”), and Darrell Gunter, a resident of the State of New
Jersey (“Executive”).  Capitalized terms and phrases shall have the
meaning ascribed thereto in this Agreement.

     

    RECITALS

     

    WHEREAS, Company and Executive
entered into an agreement on the 1st day of April 2007 pursuant to which Company
agreed to employ Executive and Executive agreed to be employed for the purpose
of performing the duties described therein (the “Original
Agreement”);

     

    WHEREAS, each of the parties
to the Original Agreement desire to amend and restate the Original Agreement by
entering into this Agreement, which, among other things, would amend the
definition of the phrase “Initial Term,” such that the Expiration Date would be
extended by an additional three
(3) years, and increase Executive's Base Salary and Severance Payments
(in the case where the same should become due and payable);

     

    WHEREAS, Company’s board of
directors (the “Board”) has determined that it is in Company’s best interest to
enter into this Agreement with Executive; and

     

    WHEREAS, Executive desires to
accept the terms and conditions of this Agreement in exchange for the benefits
offered hereunder.

     

    AGREEMENT

     

    NOW, THEREFORE, in
consideration of the premises and the mutual covenants and promises contained
herein, and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto hereby agree as
follows:

     

    
      	
               
      

            	
              1.

            	
              EMPLOYMENT TERMS AND
      CONDITIONS.

            

    

     

    1.1           Employment.  Upon
and coincident with the Effective Date (as defined below), Company agrees to
employ and Company hereby employs Executive, and Executive hereby accepts
employment by Company, upon the terms and conditions set forth in this
Agreement.

     

    1.2           Duties.

     

    (a)           In
General.  Executive shall serve as Company's Chief Marketing
Officer (“CMO”).  
In his capacity as Company’s CMO, Executive shall report directly to the
Company’s Chief Executive Officer.  In such capacity, Executive shall
(i) perform the duties and responsibilities customarily performed by an
individual with such titles and as may otherwise be reasonably assigned to him
from time to time.  Except as otherwise agreed upon by Company,
Executive shall devote all of Executive's business time, energy and skill to
performing the Services, shall not be otherwise employed and shall perform the
Services diligently, faithfully and to the best of Executive's
abilities.

     

    
      
         

      

      
        Page
1

        
          

        

      

      
         

      

    

     

      Exhibit
10.9

       

    

    (b)           Other
Activities.  Notwithstanding the above, Executive may (i) serve
as a director or trustee of other organizations, or (ii) engage in charitable,
civic, and/or governmental activities, provided that any such services and
activities do not interfere with Executive's ability to perform his duties under
this Agreement and that Executive obtains written consent for all such
activities from Company, which consent will not be unreasonably
withheld.  Consistent with the foregoing, Executive may engage in
personal activities, including, without limitation, personal investments,
provided that such activities described under this Section 1.2(b) do not
interfere with Executive's performance of the Services or any other of
Executive's written agreements with Company.

     

    (c)           Compliance with
Policies.  Subject to the terms of this Agreement, during the
Term, Executive shall comply in all material respects with all Company policies
and procedures applicable to employees of Company generally and Executive
specifically.  In connection with and as a condition to this
Agreement, Executive and Company shall enter into as of the Effective Date that
certain Statement of Additional Terms and Conditions Relating to Employment
Agreement substantially in the form attached hereto as Exhibit “A,” which is
incorporated herein and made a part hereof (together, the
“Statement”).

     

    1.3           Employment
Term.  Company agrees to employ Executive pursuant to the terms
of this Agreement, and Executive hereby accepts employment with Company, upon
the terms set forth in this Agreement, for the period commencing upon and
coincident with the 1st day of
April 2007 (the “Effective Date”) and ending upon the earlier
of:

     

    (a)           Expiration
Date.  That date which coincides with the last day of the later
of the Initial Term (as defined below) or the Renewal Term (as defined
below)(such date shall be referred to as the “Expiration Date”) (For purposes of
this Agreement, the phrase “Initial Term” shall mean that period from the
Effective Date through and including the sixth (6th) anniversary of the
Effective Date (the “Initial Term Expiration Date”); and the phrase “Renewal
Term” shall mean each consecutive twelve month period immediately following the
Initial Term, during which period this Agreement shall automatically renew on
the same terms and conditions hereof and without any further act on the part of
either party; provided, however, that in no
event shall the term of this Agreement be renewed hereunder if and to the extent
either party delivers to the other written notice of his or its intent to not
renew this Agreement at least one hundred and twenty
(120) days prior to the end of the Initial Term or any succeeding Renewal Term
(as the case may be) (the “Notice of Nonrenewal”)); or

     

    (b)           Termination
Date.  The Termination Date (as such phrase is defined in
Section 1.5 of this Agreement).

     

    The
period from the Effective Date to the earlier to occur of either the Expiration
Date or Termination Date shall be hereinafter referred to as the “Employment
Term.”

    
      
         

      

      
        Page
2

        
          

        

      

      
         

      

    

    
       

      
        Exhibit
10.9

         

      

    

    1.4 Compensation and
Benefits.

     

    (a)           Base
Salary.  In consideration of the Services rendered to Company
by Executive and Executive's covenants under this Agreement, Company agrees to
pay Executive during the Employment Term a salary at the annual rate of Two
Hundred and Forty Thousand Dollars ($240,000) (the “Base Compensation”), subject
to upward adjustments as may from time to time be determined by Company’s Board,
less statutory deductions and withholdings, payable in accordance with Company's
regular payroll practices.

     

    (b)           Bonus.  In
addition to the Base Salary, during the Employment Term, Executive shall be
entitled to such Bonuses (as defined below) as may from time to time be
determined by the Board, which may be described in that certain schedule
entitled “Bonuses,” attached hereto, marked as Exhibit “B,” and made a part
hereof or evidenced under a separate writing.

     

    (c)           Benefits
Package.  Company has adopted and maintains for its employees
generally an employee health and welfare benefit and retirement
plan.  Subject to Company’s continued maintenance of such plans and
satisfaction of applicable participation requirements, Employee shall be
entitled to participate in the following such plans and such other plans as the
right to participate may be extended, from time to time, to other members of
Company’s senior management team:  401(k) Plan
and   medical, life, disability and dental
insurance.

    

    (d)           Vacation and Personal
Leave.  Executive shall be entitled to twenty one (21) business
days paid vacation, in accordance with the vacation accrual schedule, if any,
set forth in Company's personnel policies or, if any, employee
handbook.  Additionally, Executive shall be entitled to take personal
leave up to a maximum of seven (7) business days for each year of this
Agreement, such days being utilized for observance of religious holidays or sick
leave, which days may not be accrued or otherwise carried over from year to
year.

     

    (e)           Reimbursement of Company
Business Expenses.  Company shall within ninety (90) days of
its receipt from Executive of supporting receipts to the extent required by
applicable income tax regulations and Company’s reimbursement policies,
reimburse Executive for all out-of-pocket 409A Permitted Business
Expenses; provided, however, that if such
reimbursement would jeopardize the ability of the Company to continue as a going
concern, Company’s obligation to make such reimbursement shall be deferred until
such date as any such reimbursement would no longer have such
effect.  For purposes of this Agreement, the phrase “409A Permitted
Business Expenses” shall mean those reasonably and actually incurred expenses
that are incurred by Executive in connection with his employment hereunder and
consistent with Company policies and could otherwise be deducted by Executive
under Code Section 162 or 167 as business expenses incurred in connection with
the performance of services (ignoring any applicable limitation based on
adjusted gross income).  Reimbursement of any and all 409A Permitted
Business Expenses is conditioned on Executive submitting his request for
reimbursement and supporting substantiation within sixty (60) of the date on
which any such expenses shall have been incurred.

    
      
         

      

      
        Page
3

        
          

        

      

      
         

      

    

     

      Exhibit
10.9

       

    

    1.5
Termination of Agreement.

     

    (a)           Termination
Date.  Executive's employment and this Agreement (except as
otherwise provided hereunder) shall terminate upon the first to occur of any of
the following, at the time set forth therefore (the “Termination
Date”):

     

    (i)           Mutual
Termination.  At any time by the mutual written agreement of
Company and Executive;

     

    (ii)          Death or
Disability.  Immediately upon the death of Executive or,
subject to applicable law, if any, a determination by Company that Executive is
or has become Disabled (termination pursuant to this Section being referred to
herein as termination for “Death or Disability”)(For purposes of this Agreement,
the term “Disabled” or “Disability” shall mean one of the following (A)
Executive has ceased to be able to perform the essential functions of his
duties, with or without reasonable accommodation, for a period of not less than
ninety (90) consecutive days, by reason of any medically determinable physical
or mental impairment or other incapacity that can be expected to result in death
or can be expected to last for a continuous period of not less than ninety (90)
days

     

    (iii)         Voluntary Termination By
Executive.   Thirty (30) days following Executive's
written notice to Company of his termination of employment; provided, however, that Company
may waive all or a portion of such notice period and accelerate the effective
date of such termination (termination pursuant to this Subsection being referred
to herein as “Voluntary” termination);

     

    (iv)        Termination For Cause By
Company.  Immediately following notice of termination for
“Cause” (as defined below) given by Company and failure by Executive to Cure (as
defined below), if applicable, with such notice specifying such Cause
(termination pursuant to this Subsection being referred to herein as termination
for “Cause”)(As used herein, “Cause” means (A) Executive being convicted of or
entering a plea of guilty or nolo contendere for any crime
constituting a felony in the jurisdiction in which committed, any crime
involving moral turpitude (whether or not a felony), or any other violation of
criminal law involving dishonesty or willful misconduct that materially injures
Company (whether or not a felony); (B) subject to applicable law, if any,
Executive's substance abuse that in any manner interferes with the performance
of his duties and Executive’s failure to Cure; (C) Executive's material
breach of this Agreement or any other agreement entered into with Company in
connection with Company's confidential information, trade secrets or other
property and Executive's failure to Cure the same; or (E) misconduct by
Executive that has or could result in Company’s material discredit or diminution
in value and Executive's failure to Cure the same.)(For purposes hereof the term
“Cure” shall mean that conduct or refrain from conduct that shall be required to
remedy within thirty (30) days of any such notice thereof any act or omission on
the part of Executive that is the subject of the clam hereunder by Company to
terminate Executive for Cause; provided, however, that (I)
Executive shall have only one opportunity during the Term to exercise such right
to Cure, (II) any such remedial conduct or refrain thereof shall be to Company’s
reasonable satisfaction and (III) Company shall have the right to suspend
Executive’s duties under this Agreement during any such
period.);

    
      
         

      

      
        Page
4

        
          

        

      

      
         

      

    

     

      Exhibit
10.9

       

    

    (v)         Termination Without Cause By
Company.  Notwithstanding any other provision in this Agreement
to the contrary, including, but not limited to Section 1.3 above, Company may
terminate for reasons other than Cause or for no reason Executive's employment
under this Agreement upon and coincident with any delivery of written notice
thereof; provided, however, that if and
to the extent Company determines to provide less than thirty calendar days
notice of its intent to terminate Executive (the “Optional Notice Period”), then
in such event the Severance Payments (as such phrase is defined below) shall be
extended by that number of days that the period between the delivery date of any
such notice and the Termination Date is less than such Optional Notice
Period.  Notwithstanding the foregoing, if Company elects to provide
an Optional Notice Period, then at any time during such period, Company may
elect to immediately either suspend, with no reduction in pay or benefits,
Executive from all or any part of his duties as set forth in this Agreement
(including, without limitation, Executive's position as CMO, as the case may be,
and his Services relating thereto) or terminate this Agreement in accordance
with this subsection (termination pursuant to this Subsection being referred to
herein as termination “Without Cause”) or in accordance with any other
applicable subsection under this Section 1.5(a) if and to the extent grounds for
any such determination should exist;

     

    (vi)        Termination For Good Reason
by Executive.  Subject to the notice and cure provisions
described below, Executive may terminate this Agreement for Good Reason so long
as the Termination Date relating to such Separation From Service (as such phrase
is defined in Internal Revenue Code, as amended (the “Code”) Section 409A;
Treas. Reg. Section 1.409A-1(h)) occurs not later than ninety (90) days
following the initial existence thereof.  A “Good Reason” shall be
deemed to occur on account of any one of the following events so long as such
act or omission occurred without Executive’s consent:

     

    (A)           A
material diminution in Executive’s Base Compensation without his prior written
consent; or

     

    (B)           A
material diminution in Executive’s authority, duties or
responsibility;

     

    (C)           A
material change in Executive's Employment Base must perform his services (for
purposes of this subsection, a material change shall mean Executive’s Employment
Base is relocated more than fifty (50) miles outside of the Employment Base
without Executive's prior written consent);

     

    (D)           Any
other action or inaction that constitutes a material breach by Company of this
Agreement;

    
      
         

      

      
        Page
5

        
          

        

      

      
         

      

    

     

      Exhibit
10.9

       

    

    (E)      
Any act or omission on the part of any shareholder or any person who is a
Related Person (within the meaning of Treas. Reg. Section 1.409A-1(f)(2)(ii)) of
any such shareholder that could reasonably constitute either a breach of this
Agreement or conduct for which Company or such person (or both) could be charged
with a felony under any applicable state or federal law; provided, however, that in no
event may Executive rely upon this clause (E) for the purpose of terminating
this Agreement for Good Reason if and to the extent he has engaged in any act or
omission in association with such person to cause or otherwise contribute to
such breach or violation of law; or

     

    (F)      
Any repeated request to act or refrain from acting by any shareholder or any
person who is a Related Person of any such shareholder which if complied with by
any of member of Company’s senior executive team or board of directors could
reasonably constitute either a breach of this Agreement or conduct for which
Company or such person (or both) could be charged with a felony under any
applicable state or federal law; provided, however, that in no
event may Executive rely upon this clause (F) for the purpose of terminating
this Agreement for Good Reason if and to the extent he has engaged in any act or
omission in association with such person to cause or otherwise contribute to an
actual or possible breach of this Agreement or violation of law.

     

    Notwithstanding
the foregoing, Executive’s right to terminate this Agreement for Good Reason
shall be conditioned upon and may in no event be exercised until and unless
Executive shall have provided Company written notice within thirty (30) days of
the initial existence of any such condition, upon notice of which Company shall
thereafter have forty five (45) days within which it may remedy the
condition.  For purposes of clauses (E) and (F), any such remedy may
include either Company or any person acting on its behalf making demand on or
taking any reasonably appropriate legal action to cause such shareholder or
Related Person to cease and desist from the act or omission described in
Executive’s written notice.

     

    (b)           Other
Remedies.  Termination pursuant to Section 1.5(a)(iv) above
shall be in addition to and without prejudice to any other right or remedy to
which Company may be entitled at law, in equity, or under this
Agreement.

     

    1.6
Payment Upon Separation From Service or Change in Control Event.

     

    (a) Voluntary Termination,
Termination for Cause, or Termination for Death or
Disability.  In the case of a termination of Executive's
employment by mutual agreement under Section 1.5(a)(i) above, on account of
Executive’s Death or Disability under Section 1.5(a)(ii) above, or by
Executive's Voluntary termination under Section 1.5(a)(iii) above, or by Company
for Cause in accordance with Section 1.5(a)(iv) above, (i) Company shall pay to
Executive (or his estate or guardian, as the case may be) and Executive (or his
estate or guardian, as the case may be) shall be entitled to be paid the
following as and to the extent the same shall have been earned through the
Termination Date:  (A) Base Salary earned, but unpaid; (B) in the case
of death or Disability, accrued, but unpaid Bonuses; (C) accrued but unused
vacation or personal leave days to the extent convertible into cash under
Company's policies; (D) vested benefits under any employee benefit or stock
option plan or agreement; and (E) any 409A Permitted Reimbursements so long as
any such reimbursement request shall be submitted not later than ninety (90)
days following Executive’s Separation From Service and paid not later than
ninety (90) days thereafter; provided, however, that in no
event shall Executive be entitled to receive payment of, and Company shall have
no obligation to pay, any severance or similar compensation attributable to such
termination, and (ii) Company's obligations under this Agreement shall
immediately cease.

    
      
         

      

      
        Page
6

        
          

        

      

      
         

      

    

     

      Exhibit
10.9

       

    

    (b)          Termination Without Cause by
Company or For Good Reason by Executive.

     

    (i)           In
General.  Subject to the provisions set forth in this Agreement,
including, without limitation, Section 1.6 (d), (e), (f) and (g) below, in the
case of a termination of Executive's employment hereunder Without Cause in
accordance with Section 1.5(a)(v) or for Good Reason by Executive in accordance
with Section 1.5(a)(vi) above,

     

    (A) Base
Salary, Bonuses and Health Benefits.

     

    
      	
               
      

            	
              (I)
      Company shall continue to pay to Executive (or, in the case of death or
      Disability, his estate or guardian, as the case may be) his Base Salary
      (in the case where Executive’s employment is terminated by him for Good
      Reason due to a reduction in his Base Salary without his consent, then
      Base Salary in this circumstance shall mean that amount paid as such prior
      to any such reduction); and

            

    

     

    (II)
Subject to the terms and conditions of any existing health and welfare plan
adopted by Company, Company shall extend to Executive and Executive shall have
the right to continue his and that of his eligible family members’ participation
in and coverage under any such plans; except, however, that in no
event shall Company have any such obligation under this Subsection if comparable
benefits are offered under any plan or arrangement offered by third parties, in
which case Executive shall have an obligation to report to Company the existence
of any such offer or coverage,

     

    with any
such Base Salary and participation and coverage being paid or extended, as the
case may be, on the same terms and conditions as was made available immediately
prior to Executive’s Separation From Service for the Severance Period; provided, however,  that
if Executive elects to continue his health benefits coverage under COBRA, the
Company will pay  such amount as shall equal the premiums for himfor
any such continuation coverage for the Severance Period; provided, further, that in no
event shall any such increase continue beyond that period for which Executive
would have otherwise been entitled to such continuation coverage under Code
Section 4980B (“COBRA”).

    
      
         

      

      
        Page
7

        
          

        

      

      
         

      

    

     

      Exhibit
10.9

       

    

    (ii)          Definitions.  For
purposes of this Agreement, the following phrases shall have the meaning
ascribed thereto:

     

    (A)           “Severance
Period” shall mean that period as would coincide with either (1) the first
anniversary of the Termination Date in the case where the Termination Date
occurs during the Initial Term or (2) the last day of the twelfth (12th)
consecutive month following the Termination Date in the case where the
Termination Date occurs during any Renewal Term.

     

    (B)           “Severance
Payment.”  Severance Payment shall mean the Base Salary, Bonuses and
any increase thereof if and to the extent required under Section 1.6(b)(i)(II)
above, on account of Company’s policies on  health and welfare
benefits or COBRA continuation.

     

    (iii)         Bonuses.  Company
shall pay within 30 days of the Termination Date to Executive (or, in the case
of death or Disability, his estate or guardian, as the case may be) his accrued
or earned, but unpaid Bonuses (together with the continuation of Base Salary and
reimbursement of taxable medical benefits under the immediately preceding
subparagraphs (A) and (B), the “Severance Payments”).

     

    (iv)         409A
Reimbursements.  Company shall pay within 30 days of the Termination
Date to Executive (or, in the case of death or Disability, his estate or
guardian, as the case may be) his 409A Permitted Reimbursements; provided, however, that any
such reimbursement request shall be submitted not later than 90 days following
Executive’s Separation From Service and paid not later than 90 days
thereafter.

     

    (v)         Other
Compensation.  Except as may otherwise be expressly stated to the
contrary in any applicable agreement or stock option plan, all unvested stock
options, restricted stock or other equity-based compensation held by Executive
shall immediately vest; provided, however, that no
equity-based award shall vest to the extent such vesting would cause the award
to fail to satisfy the requirements of Code Section 409A.

     

    (vi)        Timing of Severance
Payments.

     

    (A)           In
General.  Except as otherwise provided in this Section 1.6, any such
Severance Payments shall be payable in installments in accordance with Company's
normal payroll practices and subject to the tax withholding specified in Section
1.4(a) above, as full, final and complete satisfaction of such obligations under
this Agreement; provided, however, that
Executive shall have no further claims against Company for any further
compensation whatsoever, other than the payment of Permitted 409A Reimbursements
and the continuation of any employee welfare benefits as may be and to the
extent required by law.

    
      
         

      

      
        Page
8

        
          

        

      

      
         

      

    

     

    Exhibit
10.9

     

    (B)           Severance
Payments to Specified Employees.  Notwithstanding any other provision
in this Agreement to the contrary, if Executive is considered a “Specified
Employee” (within the meaning of Code Section 409A(a)(2)(B)(i)) as of the date
of any Separation From Service, then any payment under this Agreement that would
otherwise be permitted under Treas. Reg. Section 1.409A-3(a)(1) may not be made
to Executive before the date that is six (6) months after the date of
Executive’s Separation From Service with Company or, if earlier than the end of
such six month period, Executive’s date of death. Company shall have the
discretion to elect whether to accumulate the amount to which Executive would
otherwise be entitled to be paid under this Section but for his classification
as a Specified Employee” and pay such amount in a lump sum as of the first day
of the seventh (7th) month
following the Separation From Service or if each payment to which Executive
would be otherwise entitled upon a Separation From Service is delayed by six
months.  The amount of any such Severance Payment that is deferred
under this subsection shall accrue interest at the rate of eight percent (8%)
until the same shall have been paid in full.

     

    (c)   Change in Control
Event. 

     

    (i)        
In General.  Upon the occurrence of a Change in Control Event (as defined
below)(the “Change in Control Event Date”) during the Term, Company shall become
and be obligated to pay, and Executive shall be entitled to be paid an amount
equal to two times Executive’s Base Salary as  determined on the Change in
Control Event Date (the “Change in Control Payment”);provided, however, that any
such payments under this Section shall in no event become due and payable until
(i) such time as the occurrence of a Change in Control Event has been confirmed
or otherwise certified by the compensation committee of Company’s Board or, if
none, Company’s Board and (ii) the executive has not been offered comparable
employment with a successor or related Company as defined below:

     

    (ii)
Comparable employment is defined as:

     

      (A)    
Similar authority, duties or responsibilities as a CMO of a comparable sized or
larger, public entity or a
position reporting to the chief executive / managing director / general
manager of a substantial subsidiary or division of a company;

     

    (B) Base
Salary which is at least 90% of the Executive’s Base Salary immediately prior to
the Change in Control Event Date;

     

    (C)
Executive is provided with comparable or better benefits than his existing
benefits immediately prior to the Change in Control Event Date including but not
limited to severance; and

     

    (C) A
material change in Executive's Employment Base where he must perform his
services (for purposes of this subsection), a material change shall mean
Executive’s Employment Base is relocated more than fifty (50) miles outside of
the Employment Base immediately p[rior to the Change in Control Event
Date.

    
      
         

      

      
        Page
9

        
          

        

      

      
         

      

    

     

      Exhibit
10.9

    

     

    A Change
in Control Event means, except as otherwise provided in Treas. Reg. Section
1.409A-3(i)(5), any of the following transactions:

     

    (A)           A
change in ownership of Company as defined in Treas. Reg. Section
1.409A-3(i)(5)(v), which provides, inter alia, that a change in
ownership of a corporation occurs on the date that any one person, or more than
one person acting as a group (as defined in paragraph (i)(5)(v)(B) of this
section), acquires ownership of stock of the corporation that, together with
stock held by such person or group, constitutes more than 50 percent of the
total fair market value or total voting power of the stock of such corporation,
excluding
Pillar Investment Group;

     

    (B)           A
change in the effective control of the Board as defined in Treas. Reg. Section
1.409A-3(i)(5)(vi)(A)(2)(but not (i)(5(vi)(A)(i)), which provides, inter alia, that such change
occurs on the date a majority of members of the corporation’s board of directors
is replaced during any 12-month period by directors whose appointment or
election is not endorsed by a majority of the members of the corporation’s board
of directors before the date of the appointment or election, provided that for
purposes of this paragraph (i)(5)(vi)(A) the term corporation refers solely to
the relevant corporation identified in paragraph (i)(5)(ii) of this section for
which no other corporation is a majority shareholder for purposes of that
paragraph; or

     

    A change
in the ownership of a substantial portion of a corporation’s assets as defined
in Treas. Reg. Section 1.409A-3(i)(5)(vii), which, as modified herein for
Company, provides, inter
alia, that such change occurs on the date that any one person, or more
than one person acting as a group (as determined in paragraph (i)(5)(v)(B) of
this section), acquires (or has acquired during the 12-month period ending on
the date of the most recent acquisition by such person or persons) assets from
the corporation that have a total gross fair market value equal to or more than
70 percent of the total gross fair market value of all of the assets for the
corporation immediately before such acquisition or acquisitions.

     

    (iii) 
Limitation on Parachute Payments.  Notwithstanding the foregoing, if the
total of all “parachute payments” (as defined under Code Section 280G) to
Executive (at a time when he or she is a “disqualified individual” within the
meaning of Code Section 280G) exceeds an amount equal to the three times
Executive’s average gross taxable compensation from Company for the five (fewer
than five years if Executive has not worked for Company for at least five years)
calendar year period preceding the calendar year in which the Change in Control
(where such phrase for this purpose is defined under Code Section 280G) occurs,
then the amount of payments to be made under this Agreement that are considered
“parachute payments” shall be decreased to an amount such that all parachute
payments do not exceed 2.99 times Executive’s Base Amount (as such phrase is
defined in Code Section 280G).

    
      
         

      

      
        Page
10

        
          

        

      

      
         

      

    

    
       

      Exhibit
10.9

       

       (iv) 
Form and Timing of Payment.  The Change in Control Payment shall be paid to
Executive in lump sum at any time between the Change in Control Event Date and
the earlier of (A) the last date of Executive’s taxable year during which any
such Change in Control Event occurred or (B) the 15th day of
the third calendar month following Change in Control Event Date, as determined
in Company’s sole discretion.  Notwithstanding any other provision in this
Agreement to the contrary, Executive shall be entitled to only one Change in
Control Payment, regardless of the number of times during the Term there should
occur a Change in Control Event.

       

      (d)         
Payments Conditioned
on Release of Claims. Unless it otherwise elects to waive any such
condition precedent, Company's obligation to provide Executive with either the
Severance Payment or Change in Control Payment set forth in this Section 1.6 is
contingent upon Executive's and Company's execution of that certain Form of
Release, a copy of which is attached hereto and marked as Exhibit “C” (the
“Release”).  If Executive fails to sign the Release within twenty-one (21)
days of receipt of notice of termination pursuant to Section 1.5, or
subsequently rescinds the Release, Executive shall not be entitled to either the
Severance Payments or Change in Control Payment.

       

      (e)        
 Interest on
Severance or Change of Control Payments:  Payment of Severance or
Change of Control under this agreement will accrue interest to Executive at a
rate of 8% beginning 10 days after the date of Severance or the Change of
Control Event Date, unless otherwise specified in this agreement.  No
Severance of Change of Control payments to Executive will be delayed beyond 6
months from the date of Severance or Change of Control Event Date without the
expressed written permission of Executive.

       

      2.       
     EXECUTIVE’S REPRESENTATIONS AND
WARRANTIES.

       

      Executive
represents and warrants to Company that (a) this Agreement is valid and binding
upon and enforceable against him in accordance with its terms, (b) Executive is
not bound by or subject to any contractual or other obligation that would be
violated by his execution or performance of this Agreement, including, but not
limited to, any non-competition agreement presently in effect, and (b) Executive
is not subject to any pending or, to Executive's knowledge, threatened claim,
action, judgment, order, or investigation that could adversely affect his
ability to perform his obligations under this Agreement or the business
reputation of Company.  Executive has not entered into, and agrees
that he will not enter into, any agreement either written or oral in conflict
herewith.

       

      
        	
                3.

              	
                MISCELLANEOUS.

              

      

       

      3.1           Notices.  All
notices, requests, and other communications hereunder must be in writing and
will be deemed to have been duly given only if delivered personally against
written receipt or by facsimile transmission with answer back confirmation or
mailed (postage prepaid by certified or registered mail, return receipt
requested) or by overnight courier to the parties at the following addresses or
facsimile numbers:

      
        
           

        

        
          Page
11

          
            

          

        

        
           

        

      

      Exhibit
10.9

       

      If to the
Executive, to:

      

      Darrell
Gunter

      210
Highland Road

      South
Orange, NJ  07079

       

      If to
Company, to the Board at the following address:

      

      Collexis
Holdings, Inc.

      1201 Main
Street, Suite 980

      Columbia,
SC 29201

      Attn:  Board
of Directors

      

      With copy
to:

      

      Frank
McDaniel, Esq.

      McDaniel
& Henry, LLP

      PO Box
681235

      Marietta,
Georgia  30067-0021

      

      All such
notices, requests and other communications will (a) if delivered personally to
the addresses as provided in this Section be deemed given upon delivery, (b) if
delivered by facsimile transmission to the facsimile number as provided in this
Section be deemed given upon receipt, and (c) if delivered by mail in the manner
described above to the addresses as provided in this Section be deemed given
upon receipt (in each case regardless of whether such notice, request, or other
communication is received by any other person to whom a copy of such notice,
request or other communication is to be delivered pursuant to this
Section).  Any party from time to time may change its address,
facsimile number, or other information for the purpose of notices to that party
by giving written notice specifying such change to the other parties
hereto.

      

      3.2           Authorization to be
Employed.  This Agreement, and Executive's employment
hereunder, is subject to Executive providing Company with legally required proof
of Executive's authorization to be employed in the United States of
America.

      

      3.3           Entire
Agreement.  This Agreement, together with the Statement (both
of which being entered into by and between Company and Executive of even date
herewith), supersedes any and all prior discussions and agreements between the
parties with respect to the subject matter hereof and contains the sole and
entire agreement between the parties hereto with respect thereto, including,
without limitation, that certain Employment Agreement entered into by and
between Executive and Company as of the 1st day of April 2007, which agreement
is terminated as of the Effective Date hereof and is of no further force and
effect.

      
        
           

        

        
          Page
12

          
            

          

        

        
           

        

      

      Exhibit
10.9

       

      3.4           Survival.  The
parties hereby acknowledge and agree that, notwithstanding any provision of this
Agreement to the contrary, their respective obligations pursuant to Sections 1.6
2, 3 and the Statement shall survive the termination of this Agreement, the
Employment Term and/or the Executive's employment with Company.

      

      3.5           Waiver.  Any term or
condition of this Agreement may be waived at any time by the party that is
entitled to the benefit thereof, but no such waiver shall be effective unless
set forth in a written instrument duly executed by or on behalf of the party
waiving such term or condition.  No waiver by any party hereto of any
term or condition of this Agreement, in any one or more instances, shall be
deemed to be or construed as a waiver of the same or any other term or condition
of this Agreement on any future occasion.  All remedies, either under
this Agreement or by law or otherwise afforded, will be cumulative and not
alternative.

      

      3.6           Amendment.  This
Agreement may be amended, supplemented, or modified only by a written instrument
duly executed by or on behalf of each party hereto.

      

      3.7           Recovery of Attorney's
Fees.  In the event of any litigation arising from or relating
to this Agreement, the prevailing party in such litigation proceedings shall be
entitled to recover, from the non-prevailing party, the prevailing party's
reasonable costs and attorney's fees, in addition to all other legal or
equitable remedies to which it may otherwise be entitled.

      

      3.8           No Third Party
Beneficiary.  The terms and provisions of this Agreement are
intended solely for the benefit of each party hereto and Company's successors or
assigns, and it is not the intention of the parties to confer third-party
beneficiary rights upon any other person.

      

      3.9           No Assignment; Binding
Effect.  This Agreement shall inure to the benefit of any
successors or assigns of Company.  Company may assign this agreement
to a controlled subsidiary (as such term is defined under the final regulations
promulgated pursuant to Internal Revenue Code Section 409A). Executive shall not
be entitled to assign his obligations under this Agreement.

      

      3.10           Headings.  The
headings used in this Agreement have been inserted for convenience of reference
only and do not define or limit the provisions hereof.

      

      3.11           Severability.  Company
and Executive intend all provisions of this Agreement to be enforced to the
fullest extent permitted by law.  Accordingly, if a court of competent
jurisdiction determines that the scope and/or operation of any provision of this
Agreement is too broad to be enforced as written, Company and Executive intend
that the court should reform such provision to such narrower scope and/or
operation as it determines to be enforceable.  If, however, any
provision of this Agreement is held to be illegal, invalid, or unenforceable
under present or future law, and not subject to reformation, then (a) such
provision shall be fully severable, (b) this Agreement shall be construed and
enforced as if such provision was never a part of this Agreement, and (c) the
remaining provisions of this Agreement shall remain in full force and effect and
shall not be affected by illegal, invalid, or unenforceable provisions or by
their severance.

      
        
           

        

        
          Page
13

          
            

          

        

        
           

        

      

      Exhibit
10.9

       

      3.12           Governing Law and Jury
Trial.  THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF SOUTH CAROLINA APPLICABLE TO CONTRACTS
EXECUTED AND PERFORMED IN SUCH STATE WITHOUT GIVING EFFECT TO CONFLICTS OF LAWS
PRINCIPLES. BECAUSE DISPUTES ARISING IN CONNECTION WITH COMMERCIAL MATTERS,
INCLUDING EMPLOYMENT AGREEMENTS, ARE MOST QUICKLY AND ECONOMICALLY RESOLVED BY
AN EXPERIENCED AND EXPERT PERSON AND THE PARTIES WISH APPLICABLE STATE AND
FEDERAL LAWS TO APPLY (RATHER THAN ARBITRATION RULES), THE PARTIES DESIRE THAT
THEIR DISPUTES (IF ANY) BE RESOLVED BY A JUDGE APPLYING SUCH APPLICABLE LAWS.
THEREFORE, TO ACHIEVE THE BEST COMBINATION OF THE BENEFITS OF THE JUDICIAL
SYSTEM AND OF ARBITRATION, THE PARTIES HERETO WAIVE ALL RIGHTS TO TRIAL BY JURY
IN ANY ACTION, SUIT, OR PROCEEDING BROUGHT TO RESOLVE ANY DISPUTE, WHETHER
ARISING IN CONTRACT, TORT, OR OTHERWISE BETWEEN THE PARTIES ARISING OUT OF,
CONNECTED WITH, RELATED TO, OR INCIDENTAL TO THE RELATIONSHIP ESTABLISHED
BETWEEN THEM IN CONNECTION WITH THIS EMPLOYMENT AGREEMENT OR MATTERS RELATED
HERETO.

      

      3.13           Jurisdiction.  The
parties hereby consent to the personal jurisdiction and venue of any court
physically located within the County of Richland, South Carolina, in connection
with any legal or equitable action between the parties arising out of or in
connection with this Agreement.

      

      3.14           Counterparts.  This
Agreement may be executed in any number of counterparts and by facsimile, each
of which will be deemed an original, but all of which together will constitute
one and the same instrument.

      

      3.15           Opportunity to Obtain
Counsel.  In connection with the preparation of this Agreement,
Executive acknowledges and agrees that: (a) this Agreement was prepared by legal
counsel to Company (the “Law Firm”) solely on behalf of Company and not on
behalf of Executive; (b) Executive has been advised that his interests may be
opposed to the interests of Company and, accordingly, the Law Firm's
representation of Company in the preparation of this Agreement may not be in the
best interests of Executive; and (c) Executive has been advised to retain
separate legal counsel.  Executive warrants and agrees that he has had
a reasonable opportunity to obtain independent legal counsel with regard to the
terms and conditions of this Agreement, and has read and fully understands the
terms and conditions of this Agreement.  If Executive elects not to
consult with any such counsel, he has done so freely and of his own
volition.  By signing this Agreement, Executive is affirming that he has freely and of
Executive's own volition acknowledged and agreed to all terms and conditions
contained in this Agreement.

      

      
        
           

        

        
          Page
14

          
            

          

        

        
           

        

      

      Exhibit
10.9

       

      3.16           Construction and
Interpretation.  Should any provision of this Agreement require
judicial interpretation, the parties hereto agree that the court interpreting or
construing the same shall not apply a presumption that the terms hereof shall be
more strictly construed against one party by reason of the rule of construction
that a document is to be more strictly construed against the party that itself,
or through its agent, prepared the same, and it is expressly agreed and
acknowledged that Company and Executive and each of his and its representatives,
legal and otherwise, have participated in the preparation hereof.

      

      3.17           Code Section
409A.  Notwithstanding anything to the contrary contained
herein, this Agreement is intended to satisfy the requirements of Code Section
409A.  Accordingly, all provisions herein, or incorporated by
reference, shall be construed and interpreted to satisfy the requirements of
Code Section 409A.  Further, for purposes of Code Section 409A, each
payment of compensation under this Agreement shall be treated as a separate
payment of compensation.  Any reimbursements or in-kind benefits
provided under this Agreement shall be made or provided in accordance with the
requirements of Code Section 409A, including, where applicable, the requirement
that (a) any reimbursement is for expenses incurred during the period of time
specified in this Agreement, (b) the amount of expenses eligible for
reimbursement, or in kind benefits provided, during a calendar year may not
affect the expenses eligible for reimbursement, or in kind benefits to be
provided, in any other calendar year, (c) the reimbursement of an eligible
expense will be made no later than the last day of the calendar year following
the year in which the expense is incurred, and (d) the right to reimbursement or
in kind benefits is not subject to liquidation or exchange for another
benefit.  All references to “Separation From Service” contained in
this Agreement shall mean “separation from service” as determined in accordance
with Treasury Regulation Section 1.409A-1(h).

      

      IN WITNESS WHEREOF, the
parties hereto have caused this Agreement to be executed on the date first set
forth above.

      

      
        
          
            	
                    COMPANY

                  
	 
      
	
                    Collexis
      Holdings, Inc.

                  
	 
      	 
      
	
                    Signature:

                  	
                    /s/ William D. Kirkland

                  
	
                    Printed
      Name:

                  	
                    William D. Kirkland

                  
	
                    Title:

                  	
                    CEO

                  
	 
	
                    EXECUTIVE

                  
	 
      	 
      
	
                    Signature:

                  	
                    /s/ Darrell Gunter

                  
	
                    Printed
      Name: 

                  	
                    Darrell
Gunter

                  

          

        

      

      
        
           

        

        
          Page
15

          
            

          

        

        
           

        

      

       

      
        Exhibit
10.9

         

      

      EXHIBIT
A

      

      Statement
of Additional Terms and Conditions Relating to Employment
Agreement

      
        
           

        

        
          Page
16

          
            

          

        

        
           

        

      

      EXHIBIT
B

      

      Bonus

      
        
           

        

        
           

          
            

          

        

        
           

        

      

       

      EXHIBIT
C

      

      FORM
OF RELEASE

      
        
           

        

        
          Page 2Unassociated Document

    
      
        
          EXECUTION
COPY

           

        

        EMPLOYMENT
AGREEMENT

         

      

    

    This
EMPLOYMENT AGREEMENT (this “Agreement”) is
entered into and dated as of August 26, 2009 by and between Christopher Patrick
Holbert, whose primary place of business is located at No. 3 Jinyuan Road,
Daxing Industrial Development Zone, Beijing 102600, People’s Republic of China
(“Executive”),
and Asian Financial, Inc., a Wyoming corporation (the “Company”), and shall
be effective as of the date hereof.

     

    NOW,
THEREFORE, IN CONSIDERATION of the foregoing facts, the mutual covenants and
agreements contained herein and other good and valuable consideration, the
parties hereby agree as follows:

     

    1.           Duties and Scope of
Employment.

     

    1.1            The
Company hereby agrees to the employment of Executive in the capacity of Chief
Executive Officer of the Company and its subsidiaries, and Executive hereby
accepts such continued employment on the terms and conditions contained in this
Agreement, for the initial period beginning on August 26, 2009 and continuing
until August 26, 2013 (the “Initial Term”) unless
earlier terminated in accordance with Section 3 of this Agreement. Following the
Initial Term, the employment relationship continued pursuant to this Agreement
may, by express agreement, be renewed annually and, if so renewed, will be
terminable by either party in accordance with Section 3 of this Agreement.
Following expiration of the Initial Term and all subsequent renewal periods, if
any, Executive’s employment with the Company will be “at-will” and either
Executive or the Company may terminate Executive’s employment with the Company
in writing to the other party for any reason or for no reason, at any
time.

     

    1.2           Executive
shall be employed on a full time basis, shall report to the Company’s Board of
Directors, shall devote his full business efforts and time to the Company and
its subsidiaries, and shall have such reasonable, usual and customary duties of
such office and title as may be delegated to Executive from time to time by the
Company’s Board of Directors.  Executive shall have those
responsibilities normally discharged by persons in his position in a U.S. public
company, including but not limited to the general supervision and oversight of
the recordkeeping and reporting of the Company as well as the responsibilities
listed in Exhibit
A which is attached hereto.

     

    1.3           Executive
agrees to the best of his ability and experience that he will at all times fully
and faithfully perform all of the duties and obligations required of and from
Executive, consistent and commensurate with Executive’s position, pursuant to
the terms hereof. During the term of Executive’s employment relationship with
the Company, Executive will not directly or indirectly engage or participate in
any business that is competitive in any manner with the business of the Company
or its subsidiaries. Nothing in this Agreement will prevent Executive from (i)
making personal investments in, and sitting on the board of directors or board
of advisors of, businesses that are not competitive with the business of the
Company or its subsidiaries, (ii) accepting speaking or presentation engagements
in exchange for honoraria or from serving on boards of charitable organizations,
or (iii) from owning no more than 1% of the outstanding equity securities of a
corporation whose stock is listed on a national stock exchange or the Nasdaq
Stock Market; provided, that, such activities
listed in (i) through (iii) do not materially interfere with Executive’s
obligations to the Company and its subsidiaries as described above. Executive
will comply with and be bound by the Company’s operating policies, procedures
and practices as provided in writing to Executive from time to time and in
effect during the term of Executive’s employment.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    1.4           Executive
represents and warrants to the Company that he is under no obligations or
commitments, whether contractual or otherwise, that are inconsistent with his
obligations under this Agreement. Executive represents and warrants that he will
not use or disclose, in connection with his employment by the Company, any trade
secrets or other proprietary information or intellectual property in which
Executive or any other person has any right, title or interest and that his
employment by the Company as contemplated by this Agreement will not infringe or
violate the rights of any other person or entity. Executive represents and
warrants to the Company that he has returned all property and confidential
information belonging to any prior employers.

     

    1.5           Executive
acknowledges that the nature of his responsibilities may require domestic and
international travel from time to time.

     

    2.           
Compensation and
Benefits.

     

    2.1           As
of the Effective Date, Executive shall receive a monthly base salary of
RMB125,280, less payroll deductions and all required withholdings.  In
addition, an annual retention bonus of RMB410,010 will be payable to the
Executive on the first and on each subsequent anniversary of the effective date,
less payroll deductions and all required withholdings. Executive’s monthly base
salary will be payable pursuant to the Company’s normal payroll practices, will
be reviewed on an annual basis by the Compensation Committee of the Company’s
Board of Directors (the “Compensation
Committee”) and may be increased during the Initial Term on each
anniversary of the effective date of this Agreement, at the discretion of the
Compensation Committee. Notwithstanding the foregoing, Executive’s monthly
salary may be allocated among and payable by the Company or its subsidiaries in
such amounts as are determined by the Company’s Board of Directors.

     

    2.2            The
Company shall pay to Executive such bonuses as may be determined from time to
time in the sole discretion of the Compensation Committee. The amount of annual
bonus payable to Executive shall vary in the discretion of the Compensation
Committee. In determining the annual bonus to be paid to Executive, the
Compensation Committee may consider all factors deemed relevant and
appropriate.

     

    2.3            During
his employment, Executive will be eligible for fifteen (15) days of vacation
each year, which vacation shall accrue ratably over each calendar year and
pro-rata during any partial year of employment, subject to a maximum accrual at
any time of eight weeks of vacation.

     

    2.4           During
his employment, Executive shall be eligible to participate in any employee
benefit plans maintained by the Company for other executive officers, subject in
each case to the generally applicable terms and conditions of the plan in
question, the determinations of any person or committee administering such plan,
and any applicable law.

     

    2.5           During
his employment, Executive shall be authorized to incur necessary and reasonable
travel, entertainment and other business expenses in connection with his duties
hereunder. The Company shall reimburse Executive for such expenses upon
presentation of an itemized account and appropriate supporting documentation,
all in accordance with the Company’s generally applicable
policies.

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

     

    3.          
Termination of
Employment.

     

    3.1           If
Executive’s employment terminates for any reason, Executive shall not be
entitled to any severance payments, benefits, damages award or compensation
other than as specified in this Agreement.

     

    3.2           During
the Initial Term and any annual renewal period, the employment relationship may
be terminated as follows: (i) by Executive for any reason or for Good Reason (as
defined in Section 3.6 below), upon at least sixty (60) days’ written notice to
the Company, effective as of the date set forth in such notice or such earlier
date determined by the Company following such notice, and subject to Section 3.3
below; (ii) by the Company without Cause (as defined in Section 3.5 below), upon
at least thirty (30) days’ written notice to Executive, effective as of the date
set forth in such notice or such earlier date determined by Executive following
such notice, and subject to Section 3.3 and Section 3.4 below; (iii) by the
Company for Cause with immediate effect, and subject to Section 3.3 below; and
(iv) upon Executive’s death or Disability (as defined in Section 3.7 below) with
immediate effect, and subject to Section 3.3 below.

    

    3.3           If
Executive’s employment terminates for any reason at any time, including but not
limited to Executive’s voluntary election to terminate his employment with or
without Good Reason, termination by the Company with or without Cause, or upon
Executive’s death or Disability, Executive (or Executive’s estate in the case of
death) will receive payment(s) for all salary and unpaid vacation accrued as of
the date of Executive’s termination of employment, and shall be entitled to all
accrued benefits and to any additional benefits pursuant to Company plans or
policies in effect at the time of termination or as required by law, less all
required withholdings. Such payments shall be paid within ten (10) business days
of the effective date of termination. Executive shall be entitled to the
Severance Benefit (as defined in Section 3.4) in the event of termination of his
employment only as provided in Section 3.4 below.

    

    3.4           In
the event that the Company terminates Executive’s employment without Cause
during the Initial Term or any annual renewal term, the Company shall, in
addition to the payments and benefits provided for in Section 3.3, provide to
Executive an amount equal to the base salary that Executive would otherwise
receive from the Company during the period of six (6) months preceding the
termination of employment (the “Severance Benefit”).
In the Company’s sole discretion, the Severance Benefit may be paid by the
Company in a lump sum payment within ten (10) business days of the termination
of employment, or may be paid in six (6) monthly installments beginning on the
last day of the month following the termination of employment. Such Severance
Benefit shall constitute liquidated damages for early termination of this
Agreement and will be in lieu of any compensation, damages or remedy that
Executive would otherwise be entitled to receive. Such Severance Benefit is,
further, conditioned on Executive’s full and faithful compliance with the
covenants contained in Section 4 of this Agreement and the Confidentiality
Agreement as therein defined.  If Executive fails to comply in any way
with such covenants, Executive will immediately forfeit any rights to, and the
Company shall immediately be relieved of any obligation to provide, any
further payments of the Severance Benefit and shall, at the sole discretion of
the Company, reimburse the Company for any Severance Benefits previously paid,
within ten (10) days after delivery to Executive of a demand therefor. The
forfeiture of benefits set forth in this Section 3.4 shall be in addition to any
of remedies at law or equity that the Company would otherwise
have.

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

     

    3.5            
For purposes of this Agreement, “Cause” for
Executive’s termination will exist at any time after the happening of one or
more of the following events:

     

    (a)           Executive’s
continued failure to substantially perform Executive’s duties, including
Executive’s refusal to comply in any material respect with the legal directives
of the Board of Directors so long as such directives are not inconsistent with
Executive’s position and duties, and such refusal to comply is not remedied
within ten (10) working days after written notice from the Board of Directors,
which written notice shall state that failure to remedy such conduct may result
in termination for Cause;

     

    (b)           Executive’s
dishonest or fraudulent conduct, or deliberate attempt to do an injury to the
Company or any of its subsidiaries, or conduct that materially discredits the
Company or any of its subsidiaries or is materially detrimental to the
reputation of the Company or any of its subsidiaries, including conviction of a
felony; or

     

    (c)           Executive’s
breach of any element of the Confidentiality Agreement (as defined in Section 4
below), including without limitation, Executive’s theft or other
misappropriation of proprietary information of the Company or any of its
subsidiaries.

     

    3.6            
For purposes of this Agreement, “Good Reason” for
Executive to terminate his employment shall exist if Executive voluntarily
resigns within after having provided the Company with written notice of any of
the following circumstances within thirty (30) days of the initial existence of
any of the following circumstances:

     

    (a)           a
material reduction in Executive’s job position or responsibilities to a position
or to responsibilities substantially lower than the position and
responsibilities assigned to Executive upon commencement of the employment
relationship pursuant to this Agreement which has not been cured by the Company
within thirty (30) calendar days after notice of such occurrence is given by
Executive to the Company; or

     

    (b)           a
failure by the Company to comply with any provision of Section 2 of this
Agreement which has not been cured within thirty (30) calendar days after notice
of such noncompliance has been given by Executive to the Company or if such
failure is not capable of being cured in such time, a cure shall not have been
diligently initiated by the Company within such thirty (30) calendar day
period.

     

    3.7            
“Disability” as
used herein means Executive’s inability to discharge a material portion of his
responsibilities as set forth in Section 1 on account of a physical or mental
disability for either four (4) consecutive months or six (6) non-consecutive
months during a 12-month period. A termination of Executive’s employment due to
Disability will exist upon Executive’s Disability and the Company’s election to
terminate Executive’s employment.

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

     

    4.           
Protection of
Confidential Information; Non-Competition.

     

    4.1            
Executive shall sign a Confidential Information and Invention Assignment
Agreement (the “Confidentiality
Agreement”) attached hereto as Exhibit B. Executive
hereby represents and warrants to the Company that he has complied with all
obligations under the Confidentiality Agreement and agrees to continue to abide
by the terms of the Confidentiality Agreement, which are incorporated by
reference herein. Executive further agrees that the provisions of the
Confidentiality Agreement shall survive any termination of this Agreement or of
Executive’s employment relationship with the Company.

     

    4.2            
Executive hereby agrees that he shall not, during his employment with the
Company and for a period of twelve (12) months following the termination of his
employment with the Company for any reason, whether with or without cause, do
any of the following, either directly or indirectly, without the prior written
consent of the Board of Directors:

    

    (a)           carry
on any business or activity (whether directly or indirectly, as a partner,
shareholder, principal, agent, director, affiliate, employee or consultant) in
any parts of the Peoples’ Republic of China where the Company or any of its
subsidiaries conduct their business, which is directly competitive with the
business conducted by the Company or any of its subsidiaries (as conducted now
or as those businesses come to be conducted during the term of Executive’s
employment), where Executive’s performance of such business or activity has
caused, or would or might cause, Executive to disclose, base judgments on or use
any Confidential Information (as defined in the Confidentiality Agreement)
acquired during or in the course of Executive’s employment with the Company or
impair customer, vendor or business partner relations or the Company’s goodwill,
or otherwise cause special harm to the Company;

    

    (b)           attempt
to negatively influence any of the Company’s and its subsidiaries’ clients or
customers from purchasing Company products or services or to solicit or
influence or attempt to influence any client, customer or other person either
directly or indirectly, to direct his or its purchase of products and/or
services to any person, firm, corporation, institution or other entity in
competition with the business of the Company and its subsidiaries;

    

    (c)           solicit,
induce, recruit, encourage, take away or influence or attempt to influence any
person employed by or a consultant to the Company or any of its subsidiaries to
terminate or otherwise cease his employment or consulting relationship with the
Company or any of its subsidiaries or become an employee of any competitor of
the Company or its subsidiaries; and

     

    (d)           engage
in any other activities that conflict with those obligations of Executive to the
Company and its subsidiaries that survive the termination of this Agreement or
Executive’s employment with the Company.

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

    

    Executive
agrees that breach of this Section 4.2 will cause substantial injury to the
Company for which money damages will not provide an adequate remedy, and
Executive agrees that the Company shall have the right to obtain injunctive
relief, including the right to have this Section 4.2 specifically enforced by
any court having equity jurisdiction, in addition to, and not in limitation of,
any other remedies available to the Company under applicable law.

     

    The
restrictions in Section 4.2(a) to (d) are regarded by the Company and Executive
as fair and reasonable, and the Company and Executive hereby expressly confirm,
declare and represent to each other that they are so regarded by
them.  However, it is hereby declared that each of the restrictions in
this Section 4.2 is intended to be separate and severable.  If any
restriction is held to be unreasonably wide but would be valid if part of the
wording were to be deleted or the range of activities or businesses were to be
reduced in scope, such restriction will apply with so much of the wording
deleted or modified as may be necessary to make it valid.

    

    5.            Successors.

     

    5.1           This
Agreement shall be binding upon any successor (whether direct of indirect and
whether by purchase, lease, merger, consolidation, liquidation or otherwise) to
all or substantially all of the Company’s business and/or assets. For all
purposes under this Agreement, the term “Company” shall include any successor to
the Company’s business and/or assets, which becomes bound by this
Agreement.

     

    5.2           This
Agreement and all rights of Executive hereunder shall inure to the benefit of,
and be enforceable by, Executive’s personal or legal representatives, executors,
administrators, successors, heirs, distributees, devisees and
legatees.

     

    6.           Indemnification.  The Company will
indemnify and defend Executive to the maximum extent permitted by law, provided
Executive enters into the Company’s standard form of Indemnification Agreement
giving him such protection. Pursuant to the Indemnification Agreement, the
Company will agree to advance any expenses for which indemnification is
available to the extent allowed by applicable law.

     

    7.           Miscellaneous
Provisions.

     

    7.1            All
notices provided for in this Agreement shall be in writing, and shall be deemed
to have been duly given when delivered personally to the party to receive the
same, when transmitted by electronic means, or when mailed first class postage
prepared, by certified mail, return receipt requested, addressed to the party to
receive the same at his or its address set forth below, or such other address as
the party to receive the same shall have specified by written notice given in
the manner provided for in this Section 7.1. All notices shall be deemed to have
been given as of the date of personal delivery, transmittal or mailing
thereof.

     

    If
to Executive:       

    

    Christopher
Patrick Holbert

    c/o Asian
Financial, Inc.

    No. 3
Jinyuan Road

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

    

    Daxing
Industrial Development Zone

    Beijing
102600

    People’s
Republic of China

    Tel.:
+8610-6021-2222

    Fax:
+8610-6021-2164

    

    If  to
the Company: 

     

    Asian
Financial, Inc.

    No. 3
Jinyuan Road

    Daxing
Industrial Development Zone

    Beijing
102600

    People’s
Republic of China

    Attention:        Wenhua
Guo

    Chairman of the Board

    Tel:
+8610-6021-2222

    Fax:
+8610-6021-2164

    

    7.2            No
provision of this Agreement shall be modified, waived or discharged unless the
modification, waiver or discharge is agreed to in writing and signed by
Executive and by an authorized officer of the Company (other than Executive). No
waiver by either party of any breach of, or of compliance with, any condition or
provision of this Agreement by the other party shall be considered a waiver of
any other condition or provision or of the same condition or provision at
another time.  In addition, to the extent that this Agreement and the
benefits it provides are or become subject to Internal Revenue Code Section
409A(a)(1), Executive and the Company agree to cooperate to make such amendments
to the terms of this Agreement as may be necessary to avoid the imposition of
penalties and additional taxes under Section 409A of the Code; provided, however, that
Executive and the Company agree that any such amendment shall not (i) materially
increase the cost to, or liability of, the Company with respect to any payments
under this Agreement, or (ii) materially decrease the value of benefits provided
to Executive under this Agreement.

     

    7.3            No
other agreements, representations or understandings (whether oral or written)
which are not expressly set forth in this Agreement or the Confidentiality
Agreement have been made or entered into by either party with respect to the
subject matter of this Agreement. This Agreement and the Confidentiality
Agreement contain the entire understanding of the parties with respect to the
subject matter hereof.

     

    7.4            All
payments made under this Agreement shall be subject to reduction to reflect
taxes of other charges required to be withheld by law.

     

    7.5           The
validity, interpretation, construction, performance and enforcement of this
Agreement shall be governed by and construed in accordance with the laws of the
State of New York applicable to agreements made to be performed entirely within
the State of New York, without giving effect to the principles of conflicts of
law thereunder.

    

    7.6            The
invalidity or unenforceability of any provision or provisions of this Agreement
shall not affect the validity or enforceability of any other provision hereof,
which shall remain in full force and effect.

     

    
      
         

      

      
        7

        
          

        

      

      
         

      

    

    

    7.7            This
Agreement and all rights and obligations of Executive hereunder are personal to
Executive and may not be transferred or assigned by Executive at any time. The
Company may assign its rights under this Agreement to any entity that assumes
the Company’s obligations hereunder in connection with any sale or transfer of
all or a substantial portion of the Company’s assets to such
entity.

     

    7.8            Except
as provided below, any dispute or claim arising out of or in connection with
this Agreement will be finally settled by binding arbitration in Hong Kong in
accordance with the rules of the Hong Kong International Arbitration Centre by
one arbitrator appointed in accordance with said rules. Executive and the
Company shall split the cost of the arbitration filing and hearing fees and the
cost of the arbitrator. The arbitrator will award attorneys fees to the
prevailing party. The arbitrator shall apply New York law, without reference to
rules of conflicts of law or rules of statutory arbitration, to the resolution
of any dispute. Judgment on the award rendered by the arbitrator may be entered
in any court having jurisdiction thereof. Notwithstanding the foregoing, the
parties may apply to any court of competent jurisdiction for preliminary or
interim equitable relief, or to compel arbitration in accordance with this
paragraph, without breach of this arbitration provision. This Section 7.8 shall
not apply to a proceeding for equitable relief arising from any dispute or claim
relating to the Confidentiality Agreement or Section 4.2 of this
Agreement.

     

    7.9           The
headings of the paragraphs contained in this Agreement are for reference
purposes only and shall not in any way affect the meaning or interpretation of
any provision of this Agreement.

     

    7.10           This
Agreement may be executed in two or more counterparts, each of which shall be
deemed an original, but all of which together shall constitute one and the same
instrument.

     

    [Signature Page
Follows]

    
      
         

      

      
        8

        
          

        

      

      
         

      

    

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

     

    
      
        
          
            
              
                
                  
                    
                      	
                              “COMPANY”
       

                            	 	“EXECUTIVE”
	
                               
       

                            	 	 
      	 
      
	
                              Asian
      Financial, Inc.  

                            	 	Christopher
      Patrick Holbert
	 
      	 
      	 	 
      	 
      
	
                              By: 

                            	/s/
      Wenhua Guo 	 	By: 	
                              /s/ Christopher Patrick Holbert

                            
	
                              Name:  

                            	
                              Wenhua
      Guo 

                            	 	 
      	 
      
	
                              Title: 

                            	
                              Chairman
      of the Board 

                            	 	 
      	 
      
	 
      	 
      	 	 
      	 
      

                    

                  

                

              

            

          

        

      

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    EXHIBIT
A

    

    RESPONSIBILITIES
OF CHIEF EXECUTIVE OFFICER

    

    Management

    

    
      	
              1.

            	
              Responsible
      for running the Company. Manages the business, exercising executive
      stewardship of the Company’s physical, financial and human resources and
      real property.

            

    

    

    
      	
              2.

            	
              Responsible
      for the organization of the Company, and for the appointment of senior
      managers.

            

    

    

    
      	
              3.

            	
              Ensures
      that such action is taken as is necessary to secure the timely and
      effective implementation of the policies and strategies set by the Board
      and of decisions taken by or on behalf of the
  Board.

            

    

    

    
      	
              4.

            	
              Is
      responsible, in consultation with the relevant executive directors and the
      Nominating Committee, for effective succession planning and for the
      development of senior managers to ensure planned succession to their
      appointments as the need arises.

            

    

    

    
      	
              5.

            	
              Attends
      Compensation Committee meetings except on matters concerning the Chief
      Executive Officer.

            

    

    

    Strategy and
Operations

    

    
      	
              6.

            	
              In
      association with the Chairman of the Board, directs the corporate
      development activities of the Company, subsidiaries and associated
      companies and ensures proposals for major new licensing arrangements,
      mergers, acquisitions, divestments, closures and significant operational
      developments are properly evaluated, prior to their presentation to the
      Board for approval.

            

    

    

    
      	
              7.

            	
              Responsible
      for effective strategic planning for the Company and for preparing
      policies and strategies, including the annual budget, for submission to
      the Board.

            

    

    

    
      	
              8.

            	
              Ensures
      that appropriate policies and strategies are adopted within the Company,
      that these policies and strategies are implemented effectively, that
      performance is effectively monitored and that guidance or direction is
      given where appropriate.

            

    

    

    Governance

    

    
      	
              9.

            	
              With
      the participation, as appropriate, of the Chief Financial Officer, is
      responsible for public relations, including relations with the Company’s
      shareholders, the financial community, other public organizations, other
      companies, the media and the public
generally.

            

    

    

    
      	
              10.

            	
              Responsible
      for keeping the Chairman of the Board informed on all matters that may be
      of importance to the Company, including its current performance and
      progress.

            

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    EXHIBIT
B

    

    CONFIDENTIAL INFORMATION
AND

    INVENTION ASSIGNMENT
AGREEMENT

     

    This
Information and Invention Assignment Agreement (this “Agreement”), is
entered into and dated as of August 26, 2009 by and between Asian Financial,
Inc., a Wyoming corporation (the “Company”), and
Christopher Patrick Holbert, the Chief Executive Officer of the Company (“I,” “me,” “my,” or “Executive”).

    

    On even
date herewith, the Company and I entered into that certain Employment Agreement
(the “Employment
Agreement”). I recognize and acknowledge that the Company would not have
entered into the Employment Agreement but for my commitment to the agreements
and covenants contained in this Agreement. Accordingly, in consideration of my
retention by the Company and its acceptance of the Employment Agreement, the
sufficiency of which I expressly acknowledge, the Company and I, intending to be
legally bound, agree as follows:

    

    1.           Employment
or Consulting Relationship.  I understand and
acknowledge that this Agreement does not alter, amend or expand upon any rights
I may have to continue in the employ of, or in the duration of my employment
with, the Company under the Employment Agreement or under applicable law. Any
employment relationship between the Company and me, whether commenced prior to
or upon the date of this Agreement, shall be referred to herein as the “Relationship.”

     

    2.            Duties.  I
will perform for the Company and its subsidiaries such duties as may be
designated by the Company from time to time. During the Relationship, I agree to
the best of my ability and experience that I will at all times fully and
faithfully perform all of the duties and obligations required of and from me,
consistent and commensurate with my position. I will devote my best efforts to
the interests of the Company and its subsidiaries and will not engage in other
employment or in any activities detrimental to the best interests of the Company
and its subsidiaries without the prior written consent of the
Company.

     

    3.           Confidential
Information.

     

    (a)           Company
Information.  I agree at all
times during the term of my Relationship with the Company and thereafter, to
hold in strictest confidence, and not to use, except for the benefit of the
Company to the extent necessary to perform my obligations to the Company under
the Relationship, or to disclose to any person, firm, corporation or other
entity without written authorization of the Board of Directors of the Company,
any Confidential Information of the Company and its subsidiaries which I obtain
or create. I further agree not to make copies of such Confidential Information
except as authorized by the Company. I understand that “Confidential
Information” means any Company proprietary information, technical data,
trade secrets or know-how, including, but not limited to, research, product
plans, products, services, suppliers, customer lists and customers (including,
but not limited to, customers of the Company and its subsidiaries on whom I
called or with whom I became acquainted during the Relationship), prices and
costs, markets, software, developments, inventions, laboratory notebooks,
processes, formulas, technology, designs, drawings, engineering, hardware
configuration information, marketing, licenses, finances, budgets or other
business information disclosed to me by the Company and its subsidiaries either
directly or indirectly in writing, orally or by drawings or observation of parts
or equipment or created by me during the period of the Relationship, whether or
not during working hours. I understand that Confidential Information includes,
but is not limited to, information pertaining to any aspect of the Company’s and
its subsidiaries’ business which is either information not known by actual or
potential competitors of the Company and its subsidiaries or other third parties
not under confidentiality obligations to the Company and its subsidiaries, or is
otherwise proprietary information of the Company and its subsidiaries or its
customers or suppliers, whether of a technical nature or otherwise. I further
understand that Confidential Information does not include any of the foregoing
items, which has become publicly and widely known and made generally available
through no wrongful act of mine or of others who were under confidentiality
obligations as to the item or items involved.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    (b)           Prior
Obligations.  I represent that
my performance of all terms of this Agreement as an officer of the Company has
not breached and will not breach any agreement to keep in confidence proprietary
information, knowledge or data acquired by me prior or subsequent to the
commencement of my Relationship with the Company, and I will not disclose to the
Company and its subsidiaries or use any inventions, confidential or non-public
proprietary information or material belonging to any current or former client or
employer or any other party. I will not induce the Company and its subsidiaries
to use any inventions, confidential or non-public proprietary information, or
material belonging to any current or former client or employer or any other
party.

     

    (c)           Third
Party Information.  I recognize that
the Company and its subsidiaries have received and in the future will receive
confidential or proprietary information from third parties subject to a duty on
the Company’s and its subsidiaries’ part to maintain the confidentiality of such
information and to use it only for certain limited purposes. I agree to hold all
such confidential or proprietary information in the strictest confidence and not
to disclose it to any person, firm or corporation or to use it except as
necessary in carrying out my work for the Company and its subsidiaries
consistent with the Company’s and its subsidiaries’ agreement with such third
party.

     

    4.           Inventions.

     

    (a)           Inventions
Retained and Licensed.  I have attached
hereto, as Exhibit
(i), a list describing with particularity all inventions, original works
of authorship, developments, improvements, and trade secrets which were made by
me prior to the commencement of the Relationship (collectively referred to as
“Prior
Inventions”), which belong solely to me or belong to me jointly with
another, which relate in any way to any of the Company’s and its subsidiaries’
proposed businesses, products or research and development, and which are not
assigned to the Company hereunder; or, if no such list is attached, I represent
that there are no such Prior Inventions. If, in the course of my Relationship
with the Company, I incorporate into a Company product or its subsidiaries
product, process or machine a Prior Invention owned by me or in which I have an
interest, the Company is hereby granted and shall have a non-exclusive,
royalty-free, irrevocable, perpetual, worldwide license (with the right to
sublicense) to make, have made, copy, modify, make derivative works of, use,
sell and otherwise distribute such Prior Invention as part of or in connection
with such product, process or machine.

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    (b)           Assignment
of Inventions.  I agree that I
will promptly make full written disclosure to the Company, will hold in trust
for the sole right and benefit of the Company, and hereby assign to the Company,
or its designee, all my right, title and interest throughout the world in and to
any and all inventions, original works of authorship, developments, concepts,
know-how, improvements or trade secrets, whether or not patentable or
registrable under copyright or similar laws, which I may solely or jointly
conceive or develop or reduce to practice, or cause to be conceived or developed
or reduced to practice, during the period of my Relationship with the Company
(collectively referred to as “Inventions”). I
further acknowledge that all Inventions which are made by me (solely or jointly
with others) within the scope of and during the period of my Relationship with
the Company are “works
made for hire” (to the greatest extent permitted by applicable law) and
are compensated by my salary (if I am an employee).

     

    (c)           Maintenance
of Records.  I agree to keep
and maintain adequate and current written records of all Inventions made by me
(solely or jointly with others) during the term of my Relationship with the
Company. The records may be in the form of notes, sketches, drawings, flow
charts, electronic data or recordings, laboratory notebooks, and any other
format. The records will be available to and remain the sole property of the
Company at all times. I agree not to remove such records from the Company’s
place of business except as expressly permitted by Company policy which may,
from time to time, be revised at the sole election of the Company for the
purpose of furthering the Company’s business. I agree to return all such records
(including any copies thereof) to the Company at the time of
termination of my Relationship with the Company as provided for in
Section 5.

     

    (d)           Patent
and Copyright Rights.  I agree to assist
the Company, or its designee, at its expense, in every proper way to secure the
Company’s, or its designee’s, rights in the Inventions
and any copyrights, patents, trademarks, mask work rights, moral rights, or
other intellectual property rights relating thereto in any and all countries,
including the disclosure to the Company or its designee of all pertinent
information and data with respect thereto, the execution of all applications,
specifications, oaths, assignments, recordations, and all other instruments
which the Company or its designee shall deem necessary in order to apply for,
obtain, maintain and transfer such rights, or if not transferable, waive such
rights, and in order to assign and convey to the Company or its designee, and
any successors, assigns and nominees the sole and exclusive rights, title and
interest in and to such Inventions, and any copyrights, patents, mask work
rights or other intellectual property rights relating thereto. I further agree
that my obligation to execute or cause to be executed, when it is in my power to
do so, any such instrument or papers shall continue after the termination of
this Agreement until the expiration of the last such intellectual property right
to expire in any country of the world. If the Company or its designee is unable
because of my mental or physical incapacity or unavailability or for any other
reason to secure my signature to apply for or to pursue any application for any
United States or foreign patents, copyright, mask works or other registrations
covering Inventions or original works of authorship assigned to the Company or
its designee as above, then I hereby irrevocably designate and appoint the
Company and its
duly authorized officers and agents as my agent and attorney in fact, to act for
and in my behalf and stead to execute and file any such applications and to do
all other lawfully permitted acts to further the application for, prosecution,
issuance, maintenance or transfer of letters patent, copyright or other
registrations thereon with the same legal force and effect as if originally
executed by me. I hereby waive and irrevocably quitclaim to the Company or its
designee any and all claims, of any nature whatsoever, which I now or hereafter
have for infringement of any and all proprietary rights assigned to the Company
or such designee.

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    5.           Company
Property; Returning Company Documents.  I acknowledge and
agree that I have no expectation of privacy with respect to the Company’s
telecommunications, networking or information processing systems (including,
without limitation, stored company files, e-mail messages and voice messages)
and that my activity and any files or messages on or using any of those systems
may be monitored at any time without notice. I further agree that any property
situated on the Company’s premises and owned by the Company, including disks and
other storage media, filing cabinets or other work areas, is subject to
inspection by Company personnel at any time with or without notice. I agree
that, at the time of termination of my Relationship with the Company, whether by
me or the Company and for whatever reason or circumstance, I will promptly
deliver to the Company (and will not keep in my possession, recreate or deliver
to anyone else) any and all devices, records, data, notes, reports, proposals,
lists, correspondence, specifications, drawings, blueprints, sketches,
laboratory notebooks, materials, flow charts, equipment, other documents or
property, or reproductions of any of the aforementioned items developed by me
pursuant to the Relationship or otherwise belonging to the Company, its
successors or assigns, or any other documents of whatever kind or nature that
contain Confidential Information, including electronically stored information
that is maintained on any medium or storage of electronic data, including a
personal computer, laptop, personal data assistant or any like or similar device
that may now, or in the future come to exist. In the event of the termination of
the Relationship, I agree to sign and deliver the “Termination
Certification” attached hereto as Exhibit (ii);
however, my failure to sign and deliver the Termination Certificate shall in no
way diminish my continuing obligations under this Agreement.

    

    6.            Notification
to Other Parties.

     

    (a)           Employees.  In the event that
I leave the employ of the Company, I hereby consent to notification by the
Company to my new employer about my rights and obligations under this
Agreement.

     

    (b)           Consultants.  I hereby grant
consent to notification by the Company to any other parties besides the Company
with whom I maintain a consulting relationship, including parties with whom such
relationship commences after the effective date of this Agreement, about my
rights and obligations under this Agreement.

     

    7.           Solicitation
of Employees, Consultants and Other Parties.  I hereby agree
that I will not, during the term of my Relationship with the Company and for a
period of twelve (12) months following the termination of my employment with the
Company for any reason, whether with or without cause, do any of the following,
either directly or indirectly, without the prior written consent of the Board of
Directors:

    

    (a)           attempt
to negatively influence any of the Company’s and its subsidiaries’ clients or
customers from purchasing Company products or services or to solicit or
influence or attempt to influence any client, customer or other person either
directly or indirectly, to direct his or its purchase of products and/or
services to any person, firm, corporation, institution or other entity in
competition with the business of the Company and its subsidiaries;
and

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    (b)           solicit,
induce, recruit, encourage, take away or influence or attempt to influence any
person employed by or a consultant to the Company or any of its subsidiaries to
terminate or otherwise cease his employment or consulting relationship with the
Company or any of its subsidiaries or become an employee of any competitor of
the Company or its subsidiaries.

    

    8.           Representations
and Covenants.

     

    (a)           Facilitation
of Agreement.  I agree to
execute promptly any proper oath or verify any proper document required to carry
out the terms of this Agreement upon the Company’s written request to do
so.

     

    (b)           Conflicts.  I represent that
my performance of all the terms of this Agreement does not and will not breach
any agreement I have entered into, or will enter into with any third party,
including without limitation any agreement to keep in confidence proprietary
information acquired by me in confidence or in trust prior to commencement of my
Relationship with the Company. I agree not to enter into any written or oral
agreement that conflicts with the provisions of this Agreement.

     

    (c)           Voluntary
Execution.  I certify and
acknowledge that I have carefully read all of the provisions of this Agreement
and that I understand and will fully and faithfully comply with such
provisions.

     

    9.           Miscellaneous
Provisions.

     

    (a)           Notice.
All notices provided for in this Agreement shall be in writing, and shall be
deemed to have been duly given when delivered personally to the party to receive
the same, when transmitted by electronic means, or when mailed first class
postage prepared, by certified mail, return receipt requested, addressed to the
party to receive the same at his or its address set forth below, or such other
address as the party to receive the same shall have specified by written notice
given in the manner provided for in this Section 9(a). All notices shall be
deemed to have been given as of the date of personal delivery, transmittal or
mailing thereof.

     

    If
to Executive:       

    

    Christopher
Patrick Holbert

    c/o Asian
Financial, Inc.

    No. 3
Jinyuan Road

    Daxing
Industrial Development Zone

    Beijing
102600

    People’s
Republic of China

    Tel.:
+8610-6021-2222

    Fax:
+8610-6021-2164

    

    If  to
the Company: 

     

    Asian
Financial, Inc.

    No. 3
Jinyuan Road

    Daxing
Industrial Development Zone

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

    Beijing
102600

    People’s
Republic of China

    Attention:       Wenhua
Guo

    Chairman of the Board

    Tel:
+8610-6021-2222

    Fax:
+8610-6021-2164

    

    (b)           Amendment;
Waiver. No provision of this Agreement shall be modified, waived or
discharged unless the modification, waiver or discharge is agreed to in writing
and signed by me and by an authorized officer of the Company (other than me). No
waiver by either party of any breach of, or of compliance with, any condition or
provision of this Agreement by the other party shall be considered a waiver of
any other condition or provision or of the same condition or provision at
another time.

    

    (c)           Entire
Agreement.  No other agreements, representations or
understandings (whether oral or written) which are not expressly set forth in
this Agreement or the Employment Agreement have been made or entered into by
either party with respect to the subject matter of this Agreement. This
Agreement and the Employment Agreement contain the entire understanding of the
parties with respect to the subject matter hereof.

    

    (d)           Governing
Law.  The validity,
interpretation, construction, performance and enforcement of this Agreement
shall be governed by and construed in accordance with the laws of the State of
New York applicable to agreements made to be performed entirely within the State
of New York, without giving effect to the principles of conflicts of law
thereunder.

    

    (e)           Consent
to Jurisdiction.  Except as limited by and subject to Section
7.8 of the Employment Agreement, any dispute, controversy, or claim arising out
of or relating to (i) this Agreement, and its enforcement, interpretation,
termination, applicability or validity or (ii) an alleged breach, default, or
misrepresentation in connection with any of its provisions shall be tried only
in the courts of Hong Kong. I understand and agree that by execution and
delivery of this Agreement the parties accept for themselves, respectively, and
in connection with their properties, generally and unconditionally, the
exclusive jurisdiction of the aforesaid courts for all such aforementioned
disputes, and excluding any dispute subject to arbitration under Section 7.8 of
the Employment Agreement, and waive any defense of forum non conveniens and
irrevocably agree to be bound by any judgment rendered thereby in connection
with this Agreement, in each respect to the maximum extent permitted by
law.

    

    (f)           Severability.  The invalidity or
unenforceability of any provision or provisions of this Agreement shall not
affect the validity or enforceability of any other provision hereof, which shall
remain in full force and effect. The restrictions in Section 3 and Section 7 of
this Exhibit B
and the third and fourth paragraphs of Exhibit (ii) attached
hereto are regarded by me and the Company as fair and reasonable, and the
Company and I hereby expressly confirm, declare and represent to each other that
they are so regarded by us.  However, it is hereby declared that each
of the restrictions including those restrictions grouped within one section or
sub-section in Section 3 and Section 7 of this Exhibit B and the
third and fourth paragraphs of Exhibit (ii) attached
hereto is intended to be separate and severable.  If any restriction
is held to be unreasonably wide but would be valid if part of the wording were
to be deleted or the range of activities or businesses were to be reduced in
scope, such restriction will apply with so much of the wording deleted or
modified as may be necessary to make it valid.

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

     

    (g)          Successors
and Assigns.  This Agreement
will be binding upon my heirs, executors, administrators and other legal
representatives, and my successors and assigns, and will be for the benefit of
the Company, its successors, and its assigns.

     

    (h)          Survival.  The provisions of
this Agreement shall survive the termination of the Relationship and the
assignment of this Agreement by the Company to any successor in interest or
other assignee.

     

    (i)            Remedies.  I
acknowledge and agree that violation of this Agreement by me may cause the
Company irreparable harm, and therefore agree that the Company will be entitled
to seek extraordinary relief in court, including but not limited to temporary
restraining orders, preliminary injunctions and permanent injunctions without
the necessity of posting a bond or other security and in addition to and without
prejudice to any other rights or remedies that the Company may have for a breach
of this Agreement.

     

    (j)            Headings.  The
headings of the paragraphs contained in this Agreement are for reference
purposes only and shall not in any way affect the meaning or interpretation of
any provision of this Agreement.

     

    (k)           Counterparts.
This Agreement may be executed in two or more counterparts, each of which shall
be deemed an original, but all of which together shall constitute one and the
same instrument.

    

    (l)           ADVICE OF
COUNSEL.  I ACKNOWLEDGE
THAT, IN EXECUTING THIS AGREEMENT, I HAVE HAD THE OPPORTUNITY TO SEEK THE ADVICE
OF INDEPENDENT LEGAL COUNSEL, AND I HAVE READ AND UNDERSTOOD ALL OF THE TERMS
AND PROVISIONS OF THIS AGREEMENT. THIS AGREEMENT SHALL NOT BE CONSTRUED AGAINST
ANY PARTY BY REASON OF THE DRAFTING OR PREPARATION HEREOF.

     

    [Signature Page
Follows]

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

    The
parties have executed this Agreement on the respective dates set forth
below:

     

    
      
        
          	
                  COMPANY:

                	 
      	
                  EXECUTIVE:

                
	 
      	 
      	 
      
	
                  ASIAN
      FINANCIAL, INC.

                	 
      	
                  Christopher
      Patrick Holbert, an Individual:

                
	 
      	 
      	 
      
	
                  By:
      /s/ Wenhua Guo

                	 
      	
                  /s/ Christopher Patrick Holbert

                
	 
      	 
      	 
      
	
                  Name: 
      Wenhua Guo

                	 
      	 
      
	 
      	 
      	 
      
	
                  Title: 
      Chairman of the Board

                	 
      	 
      
	 
      	 
      	 
      
	
                  Date: August
      26, 2009

                	 
      	
                  Date: August
      26, 2009

                

        

      

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    EXHIBIT
(i)

     

    LIST
OF PRIOR INVENTIONS

    AND
ORIGINAL WORKS OF AUTHORSHIP

    EXCLUDED
UNDER SECTION 4

    

    
      
        
          
            
              
                
                  	
                          Title

                        	 
      	
                          Date

                        	 
      	
                          Identifying
      Number

                          or
      Brief Description

                        
	 
      	 
      	 
      	 
      	 
      

                

              

            

          

        

      

    

    
 

    _X__ No inventions or
improvements

     

    ___
Additional Sheets Attached

     

    Signature
of Executive:               
/s/ Christopher Patrick
Holbert                       

     

    Print
Name of Executive: Christopher Patrick Holbert

     

    Date:
August 26, 2009

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    EXHIBIT
(ii)

     

    TERMINATION
CERTIFICATION

     

    This is
to certify that I do not have in my possession, nor have I failed to return, any
devices, records, data, notes, reports, proposals, lists, correspondence,
specifications, drawings, blueprints, sketches, laboratory notebooks, flow
charts, materials, equipment, other documents or property, or copies or
reproductions of any aforementioned items belonging to Asian Financial, Inc.,
its subsidiaries, affiliates, successors or assigns (together, the “Company”), or any
other documents of whatever kind or nature that contain Confidential
Information, including electronically stored information that is maintained on
any medium or storage of electronic data.

     

    I further
certify that I have complied with all the terms of the Company’s Confidential
Information and Invention Assignment Agreement signed by me, including the
reporting of any inventions and original works of authorship (as defined
therein), conceived or made by me (solely or jointly with others) covered by
that agreement or other entity in competition with the business of the
Company.

     

    I further
agree that, in compliance with the Confidential Information and Invention
Assignment Agreement, I will preserve as confidential all trade secrets,
confidential knowledge, data or other proprietary information relating to
products, processes, know-how, designs, formulas, developmental or experimental
work, computer programs, data bases, other original works of authorship,
customer lists, business plans, financial information or other subject matter
pertaining to any business of the Company or any of its employees, clients,
consultants or licensees.

     

    I hereby
further agree that for a period of twelve (12) months from the date of this
Certificate, I shall not either directly or indirectly, attempt to negatively
influence any of the Company’s and its subsidiaries’ clients or customers from
purchasing Company products or services or to solicit or influence or attempt to
influence any client, customer or other person, to direct his or its purchase of
products and/or services to any person, firm, corporation, institution or other
entity in competition with the business of the Company and its subsidiaries.
Further, I shall not solicit, induce, recruit, encourage, take away or influence
or attempt to influence any person employed by or a consultant to the Company or
any of its subsidiaries to terminate or otherwise cease his employment or
consulting relationship with the Company or any of its subsidiaries or become an
employee of any competitor of the Company or its subsidiaries.

     

    
      
        
          	
                  Date:  

                	 
      	 
      
	 
      	 
      	
                  __________________________________

                
	 
      	 
      	
                  (Executive’s
      Signature)

                
	 
      	 
      	 
      
	 
      	 
      	
                   Christopher
      Patrick Holbert

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00162-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00162-of-00352.parquet"}]]