Document:

Wegener Corporation and
subsidiary

     

    EXHIBIT
10.8

     

    Description
of Executive Compensation

     

    For the
fiscal year ended September 3, 2010, compensation paid to the executive officers
consisted of their individual salaries. These amounts were as
follows:

    

    
      
        
          
            	
                    Name and Position

                  	 	
                    Salary

                  	 
	 
      	 	 	 
	
                    Robert
      A. Placek

                    Chairman
      of the

                    Board; Director

                  	 	$	98,703	 
	 
      	 	 	 	 
	
                    C.
      Troy Woodbury, Jr.

                    President
      and Chief

                    Executive
      Officer;

                    Director

                  	 	$	129,532	 
	 
      	 	 	 	 
	
                    James
      Traicoff

                    Treasurer
      and Chief

                    Financial
      Officer

                  	 	$	91,910	 

          

        

      

    

    

    Effective
October 9, 2009, the Board of Directors appointed C. Troy Woodbury Jr. as
President and Chief Executive Officer of Wegener Corporation and WCI. James
Traicoff was appointed Treasurer and Chief Financial Officer of Wegener
Corporation and WCI. Robert Placek resigned as President and Chief
Executive Officer of Wegener Corporation on October 9, 2009, but remains as
Chairman of the Board of Wegener Corporation. On October 13, 2009, Ned L.
Mountain tendered his resignation as director of Wegener Corporation and
effective October 16, 2009, Mr. Mountain left WCI. Mr. Mountain was President
and Chief Operating Officer of WCI from January 2005 to October 2009 and
Director of the Company from May 2003 to October 2009. For the fiscal year ended
August 28, 2009, compensation paid to Mr. Mountain was salary of $140,193 and a
Company matching 401K contribution of $7,269.

    

    The above
salary amounts reflect a company-wide reduction in paid working hours by
approximately 10% beginning in January 2009. Current annual base salaries in
effect for the above executive officers are as follows: Robert A. Placek-
$89,539; C.Troy Woodbury, Jr.- $143,924; and James Traicoff- $102,122. The
compensation committee is currently reviewing the salary compensation of the
executive officers as a result of the October 9, 2009 appointments.Unassociated Document

    
                                                                                                                                                                                                     

                                                                                                                                                                                                    
                                                                                                                                                                                                      	2010JUN29
      16:49:19 	 	
                                                                                                                                                                                                              Logical Terminal
      P901

                                                                                                                                                                                                            
	MT S700	 	
                                                                                                                                                                                                              Page
      00001

                                                                                                                                                                                                            
	 	 	
                                                                                                                                                                                                              Func
      HKHQIMPR

                                                                                                                                                                                                            

                                                                                                                                                                                                    

                                                                                                                                                                                                     

                                                                                                                                                                                                    
                                                                                                                                                                                                      Issue of
a Documentary Credit

                                                                                                                                                                                                    

                                                                                                                                                                                                     

                                                                                                                                                                                                     

                                                                                                                                                                                                    
                                                                                                                                                                                                      
                                                                                                                                                                                                        
                                                                                                                                                                                                          
                                                                                                                                                                                                            
                                                                                                                                                                                                              
                                                                                                                                                                                                                
                                                                                                                                                                                                                  
                                                                                                                                                                                                                    
                                                                                                                                                                                                                      
                                                                                                                                                                                                                        
                                                                                                                                                                                                                          
                                                                                                                                                                                                                            
                                                                                                                                                                                                                              
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                        
                                                                                                                                                                                                                                          
                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                              
                                                                                                                                                                                                                                                
                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                        
                                                                                                                                                                                                                                                          
                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                              
                                                                                                                                                                                                                                                                
                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                        
                                                                                                                                                                                                                                                                          
                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                              
                                                                                                                                                                                                                                                                                
                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                        
                                                                                                                                                                                                                                                                                          
                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                              
                                                                                                                                                                                                                                                                                                
                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                        
                                                                                                                                                                                                                                                                                                          
                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                              
                                                                                                                                                                                                                                                                                                                
                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                        
                                                                                                                                                                                                                                                                                                                          
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                              
                                                                                                                                                                                                                                                                                                                                
                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                        
                                                                                                                                                                                                                                                                                                                                          
                                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                                              
                                                                                                                                                                                                                                                                                                                                                
                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                        
                                                                                                                                                                                                                                                                                                                                                          
                                                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                                                              	
                                                                                                                                                                                                                                                                                                                                                                      Basic
      Header

                                                                                                                                                                                                                                                                                                                                                                    	
                                                                                                                                                                                                                                                                                                                                                                      F
      01 BKCHENBJA740 0000 000000

                                                                                                                                                                                                                                                                                                                                                                    
	 	 
	
                                                                                                                                                                                                                                                                                                                                                                      Application
      Header

                                                                                                                                                                                                                                                                                                                                                                    	
                                                                                                                                                                                                                                                                                                                                                                      I
      700 RZ00AT2LXXXX N

                                                                                                                                                                                                                                                                                                                                                                    
	 
      	
                                                                                                                                                                                                                                                                                                                                                                      *RAIFFEISENLANDESBANK

                                                                                                                                                                                                                                                                                                                                                                    
	 
      	
                                                                                                                                                                                                                                                                                                                                                                      *OBEROESTERREICH
      AKTIENGSELLSCHAFT

                                                                                                                                                                                                                                                                                                                                                                    
	 
      	
                                                                                                                                                                                                                                                                                                                                                                      *LINZ

                                                                                                                                                                                                                                                                                                                                                                    
	 	 
	
                                                                                                                                                                                                                                                                                                                                                                      User
      Header

                                                                                                                                                                                                                                                                                                                                                                    	
                                                                                                                                                                                                                                                                                                                                                                      Service
      Code  103:

                                                                                                                                                                                                                                                                                                                                                                    
	 
      	
                                                                                                                                                                                                                                                                                                                                                                      Bank.
      Priority  113:

                                                                                                                                                                                                                                                                                                                                                                    
	 
      	
                                                                                                                                                                                                                                                                                                                                                                      Msg
      User Ref.  108: HKHQIM0857

                                                                                                                                                                                                                                                                                                                                                                    
	
                                                                                                                                                                                                                                                                                                                                                                      Sequence
      of Total

                                                                                                                                                                                                                                                                                                                                                                    	
                                                                                                                                                                                                                                                                                                                                                                      *27

                                                                                                                                                                                                                                                                                                                                                                    	
                                                                                                                                                                                                                                                                                                                                                                      :
      1/1

                                                                                                                                                                                                                                                                                                                                                                    
	 	 	 
	
                                                                                                                                                                                                                                                                                                                                                                      Form
      of Doc. Credit

                                                                                                                                                                                                                                                                                                                                                                    	
                                                                                                                                                                                                                                                                                                                                                                      *40
      A

                                                                                                                                                                                                                                                                                                                                                                    	
                                                                                                                                                                                                                                                                                                                                                                      :
      IRREVOCABLE

                                                                                                                                                                                                                                                                                                                                                                    
	 	 	 
	
                                                                                                                                                                                                                                                                                                                                                                      Doc.
      Credit Number

                                                                                                                                                                                                                                                                                                                                                                    	
                                                                                                                                                                                                                                                                                                                                                                      *20

                                                                                                                                                                                                                                                                                                                                                                    	
                                                                                                                                                                                                                                                                                                                                                                      :
      LC7410173/10

                                                                                                                                                                                                                                                                                                                                                                    
	 	 	 
	
                                                                                                                                                                                                                                                                                                                                                                      Date
      of Issue

                                                                                                                                                                                                                                                                                                                                                                    	
                                                                                                                                                                                                                                                                                                                                                                      30
      C

                                                                                                                                                                                                                                                                                                                                                                    	
                                                                                                                                                                                                                                                                                                                                                                      :
      100629

                                                                                                                                                                                                                                                                                                                                                                    
	 	 	 
	
                                                                                                                                                                                                                                                                                                                                                                      Applicable
      Rules

                                                                                                                                                                                                                                                                                                                                                                    	
                                                                                                                                                                                                                                                                                                                                                                      *40
      E

                                                                                                                                                                                                                                                                                                                                                                    	
                                                                                                                                                                                                                                                                                                                                                                      :
      UCP LATEST VERSION

                                                                                                                                                                                                                                                                                                                                                                    
	 
      	
                                                                                                                                                                                                                                                                                                                                                                      /

                                                                                                                                                                                                                                                                                                                                                                    	 
      
	
                                                                                                                                                                                                                                                                                                                                                                      Expiry

                                                                                                                                                                                                                                                                                                                                                                    	
                                                                                                                                                                                                                                                                                                                                                                      *31
      D

                                                                                                                                                                                                                                                                                                                                                                    	
                                                                                                                                                                                                                                                                                                                                                                      :
      Date 120401 Place AUSTRIA

                                                                                                                                                                                                                                                                                                                                                                    
	 	 	 
	
                                                                                                                                                                                                                                                                                                                                                                      Applicant

                                                                                                                                                                                                                                                                                                                                                                    	
                                                                                                                                                                                                                                                                                                                                                                      *
      50

                                                                                                                                                                                                                                                                                                                                                                    	
                                                                                                                                                                                                                                                                                                                                                                      :
      HAINAN SHINER INDUSTRIAL CO., LTD.

                                                                                                                                                                                                                                                                                                                                                                    
	 
      	 
      	
                                                                                                                                                                                                                                                                                                                                                                      19/F
      DIDU BUILDING NO.2 NORTH

                                                                                                                                                                                                                                                                                                                                                                    
	 
      	 
      	
                                                                                                                                                                                                                                                                                                                                                                      LONGKUN
      ROAD, HAKOU,HAINAN,CHINA

                                                                                                                                                                                                                                                                                                                                                                    
	 	 	 
	
                                                                                                                                                                                                                                                                                                                                                                      Beneficiary

                                                                                                                                                                                                                                                                                                                                                                    	
                                                                                                                                                                                                                                                                                                                                                                      *59

                                                                                                                                                                                                                                                                                                                                                                    	
                                                                                                                                                                                                                                                                                                                                                                      :
      BRUCKNER MASCHINENBAU GMBH N CO KG

                                                                                                                                                                                                                                                                                                                                                                    
	 
      	 
      	
                                                                                                                                                                                                                                                                                                                                                                      KONIGSBERGER
      STR 5-7 83313

                                                                                                                                                                                                                                                                                                                                                                    
	 
      	 
      	
                                                                                                                                                                                                                                                                                                                                                                      SIEGSDORF
      GERMANY

                                                                                                                                                                                                                                                                                                                                                                    
	 	 	 
	
                                                                                                                                                                                                                                                                                                                                                                      Amount

                                                                                                                                                                                                                                                                                                                                                                    	
                                                                                                                                                                                                                                                                                                                                                                      *32
      B

                                                                                                                                                                                                                                                                                                                                                                    	
                                                                                                                                                                                                                                                                                                                                                                      :
      Currency EUR Amount 6.723.900,00

                                                                                                                                                                                                                                                                                                                                                                    
	 	 	 
	
                                                                                                                                                                                                                                                                                                                                                                      Pos.
      / Neg. Tol.(%)

                                                                                                                                                                                                                                                                                                                                                                    	
                                                                                                                                                                                                                                                                                                                                                                      39
      A

                                                                                                                                                                                                                                                                                                                                                                    	
                                                                                                                                                                                                                                                                                                                                                                      :0
      / 0

                                                                                                                                                                                                                                                                                                                                                                    
	 	 	 
	
                                                                                                                                                                                                                                                                                                                                                                      Available
      with/by

                                                                                                                                                                                                                                                                                                                                                                    	
                                                                                                                                                                                                                                                                                                                                                                      *41
      D

                                                                                                                                                                                                                                                                                                                                                                    	
                                                                                                                                                                                                                                                                                                                                                                      :
      ANY BANK

                                                                                                                                                                                                                                                                                                                                                                    
	 
      	 
      	
                                                                                                                                                                                                                                                                                                                                                                      AT
      SIGHT

                                                                                                                                                                                                                                                                                                                                                                    
	 
      	 
      	
                                                                                                                                                                                                                                                                                                                                                                      BY
      NEGOTIATION

                                                                                                                                                                                                                                                                                                                                                                    
	 	 	 
	
                                                                                                                                                                                                                                                                                                                                                                      Partial
      Shipments

                                                                                                                                                                                                                                                                                                                                                                    	
                                                                                                                                                                                                                                                                                                                                                                      43
      P

                                                                                                                                                                                                                                                                                                                                                                    	
                                                                                                                                                                                                                                                                                                                                                                      :
      ALLOWED

                                                                                                                                                                                                                                                                                                                                                                    
	 	 	 
	
                                                                                                                                                                                                                                                                                                                                                                      Transhipment

                                                                                                                                                                                                                                                                                                                                                                    	
                                                                                                                                                                                                                                                                                                                                                                      43
      T

                                                                                                                                                                                                                                                                                                                                                                    	
                                                                                                                                                                                                                                                                                                                                                                      :
      ALLOWED

                                                                                                                                                                                                                                                                                                                                                                    
	 	 	 
	
                                                                                                                                                                                                                                                                                                                                                                      Port
      of Loading

                                                                                                                                                                                                                                                                                                                                                                    	
                                                                                                                                                                                                                                                                                                                                                                      44
      E

                                                                                                                                                                                                                                                                                                                                                                    	
                                                                                                                                                                                                                                                                                                                                                                      :

                                                                                                                                                                                                                                                                                                                                                                    
	
                                                                                                                                                                                                                                                                                                                                                                      SEAPORT
      OF GERMANY/SHANGHAI WAIGAOQIAO FREE TRADE ZONE
WAREHOUSE

                                                                                                                                                                                                                                                                                                                                                                    
	 
	
                                                                                                                                                                                                                                                                                                                                                                      Port
      of Discharge

                                                                                                                                                                                                                                                                                                                                                                    	
                                                                                                                                                                                                                                                                                                                                                                      44
      F

                                                                                                                                                                                                                                                                                                                                                                    	
                                                                                                                                                                                                                                                                                                                                                                      :

                                                                                                                                                                                                                                                                                                                                                                    
	
                                                                                                                                                                                                                                                                                                                                                                      HAIKOU,
      CHINA

                                                                                                                                                                                                                                                                                                                                                                    
	 
	
                                                                                                                                                                                                                                                                                                                                                                      Latest
      Date of Ship.

                                                                                                                                                                                                                                                                                                                                                                    	
                                                                                                                                                                                                                                                                                                                                                                      44
      C

                                                                                                                                                                                                                                                                                                                                                                    	
                                                                                                                                                                                                                                                                                                                                                                      :
      110216

                                                                                                                                                                                                                                                                                                                                                                    
	 	 	 
	
                                                                                                                                                                                                                                                                                                                                                                      Descript.
      of Goods

                                                                                                                                                                                                                                                                                                                                                                    	
                                                                                                                                                                                                                                                                                                                                                                      45
      A

                                                                                                                                                                                                                                                                                                                                                                    	
                                                                                                                                                                                                                                                                                                                                                                      :

                                                                                                                                                                                                                                                                                                                                                                    
	
                                                                                                                                                                                                                                                                                                                                                                      COMMODITY:
      6.6 M BOPP FILM PRODUCTION LINE

                                                                                                                                                                                                                                                                                                                                                                    
	
                                                                                                                                                                                                                                                                                                                                                                      ACCORDING
      TO CONTRACT NO.HSIC 2009-001 DATED 09.12.2009

                                                                                                                                                                                                                                                                                                                                                                    
	
                                                                                                                                                                                                                                                                                                                                                                      TOTAL
      CONTRACT VALUE: EUR 7,471,000.00

                                                                                                                                                                                                                                                                                                                                                                    
	
                                                                                                                                                                                                                                                                                                                                                                      CIF
      HAIKOU PORT (FOR SHIPMENT BY VESSEL) OR CIP HAIKOU CITY (FOR SHIPMENT BY
      TRUCK)

                                                                                                                                                                                                                                                                                                                                                                    
	 
	
                                                                                                                                                                                                                                                                                                                                                                      Documents
      required

                                                                                                                                                                                                                                                                                                                                                                    	
                                                                                                                                                                                                                                                                                                                                                                      46
      A

                                                                                                                                                                                                                                                                                                                                                                    	
                                                                                                                                                                                                                                                                                                                                                                      :

                                                                                                                                                                                                                                                                                                                                                                    
	 	 	 
	
                                                                                                                                                                                                                                                                                                                                                                      PART
      A. EUR 5,603,250.00 (75 PCT OF TOTAL CONTRACT PRICE) WILL BE PAID UNDER
      THIS LC AGAINST PRESENTATION OF FOLLOWING SHIPPING
    DOCUMENT:

                                                                                                                                                                                                                                                                                                                                                                    
	 
	
                                                                                                                                                                                                                                                                                                                                                                      1.
      SIGNED COMMERCIAL INVOICE IN 3 COPIES INDICATING LC NO. AND CONTRACT
      NO.HSIC 2009-001

                                                                                                                                                                                                                                                                                                                                                                    

                                                                                                                                                                                                                                                                                                                                                               

                                                                                                                                                                                                                                                                                                                                                               

                                                                                                                                                                                                                                                                                                                                                              
                                                                                                                                                                                                                                                                                                                                                                
                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                  

                                                                                                                                                                                                                                                                                                                                                                

                                                                                                                                                                                                                                                                                                                                                                
                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                  

                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                    

                                                                                                                                                                                                                                                                                                                                                                  

                                                                                                                                                                                                                                                                                                                                                                

                                                                                                                                                                                                                                                                                                                                                                
                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                  

                                                                                                                                                                                                                                                                                                                                                                

                                                                                                                                                                                                                                                                                                                                                              

                                                                                                                                                                                                                                                                                                                                                               

                                                                                                                                                                                                                                                                                                                                                              
                                                                                                                                                                                                                                                                                                                                                                
                                                                                                                                                                                                                                                                                                                                                                  	2010JUN29
      16:49:19 	 	
                                                                                                                                                                                                                                                                                                                                                                          Logical Terminal
      P901

                                                                                                                                                                                                                                                                                                                                                                        
	MT S700	 	
                                                                                                                                                                                                                                                                                                                                                                          Page
      00001

                                                                                                                                                                                                                                                                                                                                                                        
	 	 	
                                                                                                                                                                                                                                                                                                                                                                          Func
      HKHQIMPR

                                                                                                                                                                                                                                                                                                                                                                        

                                                                                                                                                                                                                                                                                                                                                                

                                                                                                                                                                                                                                                                                                                                                                 

                                                                                                                                                                                                                                                                                                                                                                
                                                                                                                                                                                                                                                                                                                                                                  Issue of
a Documentary Credit

                                                                                                                                                                                                                                                                                                                                                                

                                                                                                                                                                                                                                                                                                                                                              

                                                                                                                                                                                                                                                                                                                                                               

                                                                                                                                                                                                                                                                                                                                                              
                                                                                                                                                                                                                                                                                                                                                                
                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                                                                                                                                      	
                                                                                                                                                                                                                                                                                                                                                                               

                                                                                                                                                                                                                                                                                                                                                                            	

                                                                                                                                                                                                                                                                                                                                                                              2.

                                                                                                                                                                                                                                                                                                                                                                            	 
      
	 	 	 
	 
      	
                                                                                                                                                                                                                                                                                                                                                                              1)
      FOR SHIPMENT FROM GERMAN SEAPORT TO HAIKOU PORT, P. R. CHINA, THE
      FOLLOWING DOCUMENTS IS APPLICABLE:

                                                                                                                                                                                                                                                                                                                                                                            
	 
      	
                                                                                                                                                                                                                                                                                                                                                                              FULL
      SET OF CLEAN ON BOARD OCEAN BILLS OF LADING MADE OUT TO ORDER AND BLANK
      ENDORSED, MARKED “FREIGHT PREPAID” AMD NOTIFYING THE
      APPLICANT.

                                                                                                                                                                                                                                                                                                                                                                            
	 
      	
                                                                                                                                                                                                                                                                                                                                                                              2)
      FOR SHIPMENTS FROM SHANGHAI WAIGAOQIAO FREE TRADE ZONE WAREHOUSE TO HAIKOU
      CITY, P. R. CHINA, THE FOLLOWING DOCUMENTS IS
  APPLICABLE:

                                                                                                                                                                                                                                                                                                                                                                            
	 
      	
                                                                                                                                                                                                                                                                                                                                                                              FORWARDER’S
      CERTIFICATE OF RECEIPT (FCR) CONSIGNED TO APPLICANT MARKED “FREIGHT
      PREPAID”

                                                                                                                                                                                                                                                                                                                                                                            
	 	 
	 
      	
                                                                                                                                                                                                                                                                                                                                                                              3.
      PACKING LIST IN 3 COPIES.

                                                                                                                                                                                                                                                                                                                                                                            
	 	 
	 
      	
                                                                                                                                                                                                                                                                                                                                                                              4.
      INSURANCE CERTIFICATE IN DUPLICATE FOR 110 PCT OF THE INVOICE VALUE
      SHOWING CLAIMS PAYABLE IN CHINA, IN CURRENCY OF THE LC, BLANK ENDORSED,
      COVERING ALL RISKS.

                                                                                                                                                                                                                                                                                                                                                                            
	 
      	
                                                                                                                                                                                                                                                                                                                                                                              5.
      CERTIFICATE OF QUALITY ISSUED BY THE BENEFICIARY.

                                                                                                                                                                                                                                                                                                                                                                            
	 
      	
                                                                                                                                                                                                                                                                                                                                                                              6.
      CERTIFICATE OF ORIGIN ISSUED BY THE BENEFICIARY.

                                                                                                                                                                                                                                                                                                                                                                            
	
                                                                                                                                                                                                                                                                                                                                                                              PART
      B.        

                                                                                                                                                                                                                                                                                                                                                                            	
                                                                                                                                                                                                                                                                                                                                                                              EUR373,550.00
      (5 PCT OF TOTAL CONTRACT PRICE) WILL BE PAID UNDER THIS LC AGAINST
      PRESENTATION OF THE FOLLOWING DOCUMENTS:

                                                                                                                                                                                                                                                                                                                                                                            
	
                                                                                                                                                                                                                                                                                                                                                                               

                                                                                                                                                                                                                                                                                                                                                                            	
                                                                                                                                                                                                                                                                                                                                                                              1. PAYMENT
      REQUEST.

                                                                                                                                                                                                                                                                                                                                                                            
	
                                                                                                                                                                                                                                                                                                                                                                               

                                                                                                                                                                                                                                                                                                                                                                            	
                                                                                                                                                                                                                                                                                                                                                                              2.
      PROTOCOL OF COMPLETION OF INSTALLATION SIGNED BY BOTH PARTIES IN ONE
      COPY,

                                                                                                                                                                                                                                                                                                                                                                            
	 
      	
                                                                                                                                                                                                                                                                                                                                                                              IF
      THE PROTOCOL OF COMPLETION OF INSTALLATION CAN NOT BE PRESENTED WITHIN 16
      MONTHS AFTER RECEIPT OF THE DOWN PAYMENT (BEING 01.06.2011), DUE TO THE
      APPLICANT\S REASON UNILATERALLY, THE BENEFICIARY HAS THE OPTION TO PRESENT
      THE FOLLOWING DOCUMENT AFTER THAT DATE ALTERNATIVELY:

                                                                                                                                                                                                                                                                                                                                                                            
	 
      	
                                                                                                                                                                                                                                                                                                                                                                              BENEFICIARY’S
      WRITTEN DECLARATION STATING THAT THE PROTOCOL OF COMPLETION OF INSTALLMENT
      HAS NOT BEEN SIGNED NOT DUE TO OK YES BENEFICIARY’S
      RESPONSIBILITY.

                                                                                                                                                                                                                                                                                                                                                                            
	
                                                                                                                                                                                                                                                                                                                                                                              PART
      C.        

                                                                                                                                                                                                                                                                                                                                                                            	
                                                                                                                                                                                                                                                                                                                                                                              EUR747,100.00
      (10 PCT OF TOTAL CONTRACT PRICE) WILL BE PAID UNDER THIS LC AGAINST
      PRESENTATION OF THE FOLLOWING DOCUMENTS:

                                                                                                                                                                                                                                                                                                                                                                            
	
                                                                                                                                                                                                                                                                                                                                                                               

                                                                                                                                                                                                                                                                                                                                                                            	
                                                                                                                                                                                                                                                                                                                                                                              1. PAYMENT
      REQUEST.

                                                                                                                                                                                                                                                                                                                                                                            
	
                                                                                                                                                                                                                                                                                                                                                                               

                                                                                                                                                                                                                                                                                                                                                                            	
                                                                                                                                                                                                                                                                                                                                                                              2. ACCEPTANCE
      PROTOCOL SIGNED BY BOTH PARTIES IN ONE COPY.

                                                                                                                                                                                                                                                                                                                                                                            
	
                                                                                                                                                                                                                                                                                                                                                                               

                                                                                                                                                                                                                                                                                                                                                                            	
                                                                                                                                                                                                                                                                                                                                                                              3. PERFORMANCE
      GUARANTEE COVERING EUR747,100.00 (10 PCT OF TOTAL CONTRACT PRICE) ISSUED
      BY BENEFICIARY’S BANK FOR THE WARRANTY PERIOD. THE PERFORMANCE GUARANTEE
      SHALL BE VALID FOR A PERIOD OF 12 MONTHS CALCULATED FROM THE DATE OF
      ACCEPTANCE PROTOCOL OR 22 MONTHS AFTER LAST SHIPMENT DATE WHICHEVER COMES
      EARLIER.

                                                                                                                                                                                                                                                                                                                                                                            
	 
      	
                                                                                                                                                                                                                                                                                                                                                                              IF
      THE ACCEPTANCE PROTOCOL CAN NOT BE PRESENTED WITHIN 23 MONTHS AFTER
      RECEIPT OF THE DOWN PAYMENT (BEING 01.01.2012), DUE TO THE APPLICANT’S
      REASON UNILATERALLY, THE BENEFICIARY HAS THE OPTION TO PRESENT THE
      FOLLOWING DOCUMENT AFTER THAT DATE ALTERNATIVELY: BENEFICIARY’S WRITTEN
      DECLARATION STATING THAT THE ACCEPTANCE PROTOCOL HAS NOT BEEN SIGNED NOT
      DUE TO BENEFICIARY’S RESPONSIBILITY.

                                                                                                                                                                                                                                                                                                                                                                            
	
                                                                                                                                                                                                                                                                                                                                                                               

                                                                                                                                                                                                                                                                                                                                                                            	
                                                                                                                                                                                                                                                                                                                                                                              

                                                                                                                                                                                                                                                                                                                                                                                Additional
      Cond.      47A:

                                                                                                                                                                                                                                                                                                                                                                              

                                                                                                                                                                                                                                                                                                                                                                            
	
                                                                                                                                                                                                                                                                                                                                                                               

                                                                                                                                                                                                                                                                                                                                                                            	
                                                                                                                                                                                                                                                                                                                                                                              1. ONE
      EXTRA PHOTOCOPY OF INVOICE AND TRANSPORT DOCUMENTS SHOULD BE PRESENTED FOR
      OUR FILE ONLY, OTHERWISE, MISC. FEE USD30.00 WILL BE DEDUCTED FROM THE
      PROCEEDS.

                                                                                                                                                                                                                                                                                                                                                                            
	
                                                                                                                                                                                                                                                                                                                                                                               

                                                                                                                                                                                                                                                                                                                                                                            	
                                                                                                                                                                                                                                                                                                                                                                              2. DISCREPANT
      DOCUMENTS WILL BE HANDLED IN ACCORDANCE WITH UCP600
  ART.16.

                                                                                                                                                                                                                                                                                                                                                                            
	
                                                                                                                                                                                                                                                                                                                                                                               

                                                                                                                                                                                                                                                                                                                                                                            	
                                                                                                                                                                                                                                                                                                                                                                              3. A
      HANDLING FEE OF USD70.00 OR EQUIVALENT WILL BE DEDUCTED FROM THE PROCEEDS
      FOR DOCUMENTS PRESENTED WITH DISCREPANCY
(IES).

                                                                                                                                                                                                                                                                                                                                                                            

                                                                                                                                                                                                                                                                                                                                                                       

                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                        
                                                                                                                                                                                                                                                                                                                                                                          
                                                                                                                                                                                                                                                                                                                                                                          

                                                                                                                                                                                                                                                                                                                                                                        

                                                                                                                                                                                                                                                                                                                                                                        
                                                                                                                                                                                                                                                                                                                                                                          
                                                                                                                                                                                                                                                                                                                                                                          

                                                                                                                                                                                                                                                                                                                                                                          
                                                                                                                                                                                                                                                                                                                                                                            

                                                                                                                                                                                                                                                                                                                                                                          

                                                                                                                                                                                                                                                                                                                                                                        

                                                                                                                                                                                                                                                                                                                                                                        
                                                                                                                                                                                                                                                                                                                                                                          
                                                                                                                                                                                                                                                                                                                                                                          

                                                                                                                                                                                                                                                                                                                                                                        

                                                                                                                                                                                                                                                                                                                                                                      

                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                         

                                                                                                                                                                                                                                                                                                                                                                        
                                                                                                                                                                                                                                                                                                                                                                          
                                                                                                                                                                                                                                                                                                                                                                            	2010JUN29
      16:49:19 	 	
                                                                                                                                                                                                                                                                                                                                                                                    Logical Terminal
      P901

                                                                                                                                                                                                                                                                                                                                                                                  
	MT S700	 	
                                                                                                                                                                                                                                                                                                                                                                                    Page
      00001

                                                                                                                                                                                                                                                                                                                                                                                  
	 	 	
                                                                                                                                                                                                                                                                                                                                                                                    Func
      HKHQIMPR

                                                                                                                                                                                                                                                                                                                                                                                  

                                                                                                                                                                                                                                                                                                                                                                          

                                                                                                                                                                                                                                                                                                                                                                           

                                                                                                                                                                                                                                                                                                                                                                          
                                                                                                                                                                                                                                                                                                                                                                            Issue of
a Documentary Credit

                                                                                                                                                                                                                                                                                                                                                                          

                                                                                                                                                                                                                                                                                                                                                                        

                                                                                                                                                                                                                                                                                                                                                                      

                                                                                                                                                                                                                                                                                                                                                                       

                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                        
                                                                                                                                                                                                                                                                                                                                                                          	
                                                                                                                                                                                                                                                                                                                                                                                   

                                                                                                                                                                                                                                                                                                                                                                                	
                                                                                                                                                                                                                                                                                                                                                                                  4. PAYMENT
      HANDLING FEE AND ANY CABLE CHARGES RELATED TO ADVICE OF DISCREPANCY (IES),
      ACCEPTANCE AND/OR PAYMENT ARE FOR ACCOUNT OF
  BENEFICIARY.

                                                                                                                                                                                                                                                                                                                                                                                
	
                                                                                                                                                                                                                                                                                                                                                                                   

                                                                                                                                                                                                                                                                                                                                                                                	
                                                                                                                                                                                                                                                                                                                                                                                  5. ALL
      DOCUMENTS MENTIONED UNDER PART A OF 46A MUST BE SENT TO ISSUING BANK (ADD:
      BANK OF CHINA, ATTN: I/B DEPT.) IN TWO LOTS VIA COURIER SERVICE, ALL OTHER
      DOCUMENTS IN ONE LOT VIA COURIER SERVICE.

                                                                                                                                                                                                                                                                                                                                                                                
	
                                                                                                                                                                                                                                                                                                                                                                                   

                                                                                                                                                                                                                                                                                                                                                                                	
                                                                                                                                                                                                                                                                                                                                                                                  6. EUR747,100.00
      (10 PCT OF TOTAL CONTRACT PRICE) HAVE ALREADY BEEN PAID OUTSIDE THIS LC AS
      DOWN PAYMENT.

                                                                                                                                                                                                                                                                                                                                                                                
	
                                                                                                                                                                                                                                                                                                                                                                                  Detail
      of Charges

                                                                                                                                                                                                                                                                                                                                                                                	
                                                                                                                                                                                                                                                                                                                                                                                  71
      B:

                                                                                                                                                                                                                                                                                                                                                                                	
                                                                                                                                                                                                                                                                                                                                                                                  ALL
      BANKING CHARGES OUTSIDE OF

                                                                                                                                                                                                                                                                                                                                                                                
	 
      	 
      	
                                                                                                                                                                                                                                                                                                                                                                                  OPENING
      BANK ARE FOR BENEFICIARY’S

                                                                                                                                                                                                                                                                                                                                                                                
	 
      	 
      	
                                                                                                                                                                                                                                                                                                                                                                                  ACCOUNT.

                                                                                                                                                                                                                                                                                                                                                                                
	
                                                                                                                                                                                                                                                                                                                                                                                  Presentation
      Period

                                                                                                                                                                                                                                                                                                                                                                                	
                                                                                                                                                                                                                                                                                                                                                                                  48:

                                                                                                                                                                                                                                                                                                                                                                                	
                                                                                                                                                                                                                                                                                                                                                                                  DOCUMENTS
      TO BE PRESENT WITHIN 21

                                                                                                                                                                                                                                                                                                                                                                                
	 
      	 
      	
                                                                                                                                                                                                                                                                                                                                                                                  DAYS
      AFTER THE DATE OF ISSUANCE OF

                                                                                                                                                                                                                                                                                                                                                                                
	 
      	 
      	
                                                                                                                                                                                                                                                                                                                                                                                  THE
      TRANSPORT DOCUMENT(S) BUT

                                                                                                                                                                                                                                                                                                                                                                                
	 
      	 
      	
                                                                                                                                                                                                                                                                                                                                                                                  WITHIN
      THE VALIDITY OF THE CREDIT.

                                                                                                                                                                                                                                                                                                                                                                                
	
                                                                                                                                                                                                                                                                                                                                                                                  Confirmation

                                                                                                                                                                                                                                                                                                                                                                                	
                                                                                                                                                                                                                                                                                                                                                                                  *49

                                                                                                                                                                                                                                                                                                                                                                                	
                                                                                                                                                                                                                                                                                                                                                                                  :
      WITHOUT

                                                                                                                                                                                                                                                                                                                                                                                
	
                                                                                                                                                                                                                                                                                                                                                                                  INSTRUCTION

                                                                                                                                                                                                                                                                                                                                                                                	
                                                                                                                                                                                                                                                                                                                                                                                  78

                                                                                                                                                                                                                                                                                                                                                                                	:
	
                                                                                                                                                                                                                                                                                                                                                                                   

                                                                                                                                                                                                                                                                                                                                                                                	
                                                                                                                                                                                                                                                                                                                                                                                  1.
      WE HEREBY UNDERTAKE THAT TALL DOCUMENTS IN COMPLIANCE WITH THE TERMS AND
      CONDITIONS OF THIS CREDIT WILL BE PAID AT MATURITY.

                                                                                                                                                                                                                                                                                                                                                                                
	
                                                                                                                                                                                                                                                                                                                                                                                   

                                                                                                                                                                                                                                                                                                                                                                                	
                                                                                                                                                                                                                                                                                                                                                                                  2.
      THE PRESENTING BANK MUST STATE ON THEIR REMITTANCE
    COVERING.

                                                                                                                                                                                                                                                                                                                                                                                
	 
      	 
      	 
      
	
                                                                                                                                                                                                                                                                                                                                                                                  SCHEDULE
      THAT EACH DRAWING HAS BEEN ENDORSED ON THE REVERSE OF THE ORIGINAL
      L/C.

                                                                                                                                                                                                                                                                                                                                                                                
	
                                                                                                                                                                                                                                                                                                                                                                                  Send
      to Rec. Info. 72:

                                                                                                                                                                                                                                                                                                                                                                                	
                                                                                                                                                                                                                                                                                                                                                                                  SUBJECT
      TO U.C.P. (2007 REVISION)

                                                                                                                                                                                                                                                                                                                                                                                
	 
      	
                                                                                                                                                                                                                                                                                                                                                                                  I.C.C.
      PUBLICATION NO.600

                                                                                                                                                                                                                                                                                                                                                                                
	 
      	
                                                                                                                                                                                                                                                                                                                                                                                  THIS
      IS THE OPERATIVE INSTRUMENT,

                                                                                                                                                                                                                                                                                                                                                                                
	 
      	
                                                                                                                                                                                                                                                                                                                                                                                  NO
      MAIL CONFIRMATION WILL FOLLOW.

                                                                                                                                                                                                                                                                                                                                                                                
	
                                                                                                                                                                                                                                                                                                                                                                                  Trailer

                                                                                                                                                                                                                                                                                                                                                                                	
                                                                                                                                                                                                                                                                                                                                                                                  Order
      is
      <MAC:><PAC:><ENC:><CHK:><TNG:><PDE:>

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00181-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00181-of-00352.parquet"}]]