Document:

SHARE
PLEDGE AGREEMENT

     

    This
Share Pledge Agreement (this “Agreement”) has been executed by and among the
following parties on December 20, 2007 in Jinan, the People’s Republic of China
(“China”):

     

    
      	
              Party A:

            	
              Trunkbow
      Asia Pacific(Shandong) Co., Ltd (hereinafter
      “Pledgee”)

            

    

    
      	
              Address:

            	
              The
      sixth floor, Mainbuilding, Shanda Technology Industrial Zone, Yingxiu
      Road, Hi-tech Development District,
Jinan

            

    

     

    
      	
              Party
      B:

            	
              Wanchun
      HOU (hereinafter “Pledgor”)

            

    

    
      	
              ID
      No.:

            	
              370102196509123716

            

    

     

    
      	
              Party C:

            	
              Trunkbow
      Technologies (Shenzhen) Co., Ltd.

            

    

    
      	
              Address:

            	
              25E,
      East Building, Guangye Center, Fuhua Road, Futian District,
      Shenzhen.

            

    

     

    In this
Agreement, each of Pledgee, Pledgor and Party C shall be referred to as a
“Party” respectively, and they shall be collectively referred to as the
“Parties”.

     

    Whereas:

     

    
      	
               
      

            	
              1.

            	
              Pledgor
      is a citizen of China, and holds 40% of the equity interest in Party C.
      Party C is a limited liability company registered in Shenzhen, China
      engaging in technology development and sales of computer system software,
      communication products, electronic and electrical products as well as
      economic information consulting. Party C intends to acknowledge the
      respective rights and obligations of Pledgor and Pledgee under this
      Agreement, and to provide any necessary assistance in registering the
      Pledge;

            

    

     

    
      	
               
      

            	
              2.

            	
              Pledgee
      is a wholly-foreign-owned enterprise registered in Jinan City, Shandong
      Province, China. Pledgee and Party C partially owned by Pledgor have
      executed an Exclusive Business Cooperation Agreement on the date of this
      Agreement;

            

    

     

    
      	
               
      

            	
              3.

            	
              To
      ensure that Pledgee collects all payments due by Party C, including
      without limitation the consulting and service fees regularly from Party C,
      Pledgor hereby pledges all of the equity interest he holds in Party C as
      security for payment of the consulting and service fees under the Business
      Cooperation Agreement.

            

    

     

    To
perform the provisions of the Business Cooperation Agreement, the Parties have
mutually agreed to execute this Agreement upon the following terms.

     

    
      	
              1.

            	
              Definitions

            

    

     

    Unless
otherwise provided herein, the terms below shall have the following
meanings:

     

    
      	
               
      

            	
              1.1

            	
              Pledge:
      shall refer to the security interest granted by Pledgor to Pledgee
      pursuant to Article 2 of this Agreement, i.e., the right of Pledgee to be
      compensated on a preferential basis with the conversion, auction or sales
      price of the Equity Interest.

            

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    
      	
               
      

            	
              1.2

            	
              Equity
      Interest: shall refer to all of the equity interests lawfully now held and
      hereafter acquired by Pledgor in Party
C.

            

    

     

    
      	
               
      

            	
              1.3

            	
              Term
      of Pledge: shall refer to the term set forth in Section 3.2 of this
      Agreement.

            

    

     

    
      	
               
      

            	
              1.4

            	
              Business
      Cooperation Agreement: shall refer to the Exclusive Business Cooperation
      Agreement executed by and between Party C partially owned by Pledgor and
      Pledgee on the date of this
Agreement.

            

    

     

    
      	
               
      

            	
              1.5

            	
              Event
      of Default: shall refer to any of the circumstances set forth in Article 7
      of this Agreement.

            

    

     

    
      	
               
      

            	
              1.6

            	
              Notice
      of Default: shall refer to the notice issued by Pledgee in accordance with
      this Agreement declaring an Event of
Default.

            

    

     

    
      	
              2.

            	
              The
      Pledge

            

    

     

    As
collateral security for the prompt and complete payment and performance when due
(whether at stated maturity, by acceleration or otherwise) of any or all the
payments due by Party C, including without limitation the consulting and
services fees payable to the Pledgee under the Business Cooperation Agreement,
Pledgor hereby pledges to Pledgee a first security interest in all of Pledgor’s
right, title and interest, whether now owned or hereafter acquired by Pledgor,
in the Equity Interest of Party C.

     

    
      	
              3.

            	
              Term
      of Pledge

            

    

     

    
      	
               
      

            	
              3.1

            	
              The
      Pledge shall become effective as of the date when the pledge of the Equity
      Interest is registered with relevant administration for industry and
      commerce (the “AIC”) in accordance with the PRC laws and regulations. The
      Pledge shall be continuously valid until all payments due under the
      Business Cooperation Agreement have been fulfilled by Party C. The parties
      agree that Pledgor and Party C shall register the Pledge in the
      shareholders’ register of Party C within 3 business days following the
      execution of this Agreement, and shall register the Pledge with relevant
      AIC in accordance with the PRC laws and regulations as soon as possible
      (the “Registration of Pledge”).

            

    

     

    
      	
               
      

            	
              3.2

            	
              During
      the Term of Pledge, in the event Party C fails to pay the exclusive
      consulting or service fees in accordance with the Business Cooperation
      Agreement, Pledgee shall have the right, but not the obligation, to
      dispose of the Pledge in accordance with the provisions of this
      Agreement.

            

    

     

    
      	
              4.

            	
              Custody
      of Records for Equity Interest subject to
Pledge

            

    

     

    
      	
               
      

            	
              4.1

            	
              During
      the Term of Pledge set forth in this Agreement, Pledgor shall deliver to
      Pledgee’s custody the capital contribution certificate for the Equity
      Interest and the shareholders’ register containing the Pledge within one
      week from the execution of this Agreement, and shall deliver to Pledgee’s
      custody the evidence of the Registration of Pledge (as applicable, the
      “Registration Evidence”) within one week from the completion of the
      Registration of Pledge. Pledgee shall have custody of such items during
      the entire Term of Pledge set forth in this
  Agreement.

            

    

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

     

    
      	
               
      

            	
              4.2

            	
              Pledgee
      shall have the right to collect dividends generated by the Equity Interest
      during the Term of Pledge.

            

    

     

    
      	
              5.

            	
              Representations
      and Warranties of Pledgor

            

    

     

    
      	
               
      

            	
              5.1

            	
              Pledgor
      is the sole legal and beneficial owner of the Equity
    Interest.

            

    

     

    
      	
               
      

            	
              5.2

            	
              Pledgee
      shall have the right to dispose of and transfer the Equity Interest in
      accordance with the provisions set forth in this
  Agreement.

            

    

     

    
      	
               
      

            	
              5.3

            	
              Except
      for the Pledge, Pledgor has not placed any security interest or other
      encumbrance on the Equity Interest.

            

    

     

    
      	
              6.

            	
              Covenants
      and Further Agreements of Pledgor

            

    

     

    
      	
               
      

            	
              6.1

            	
              Pledgor
      hereby covenants to the Pledgee, that during the term of this Agreement,
      Pledgor shall:

            

    

     

    
      	
               
      

            	
              6.1.1

            	
              not
      transfer the Equity Interest, place or permit the existence of any
      security interest or other encumbrance that may affect the Pledgee’s
      rights and interests in the Equity Interest, without the prior written
      consent of Pledgee, except for the performance of the Exclusive Option
      Agreement executed by Pledgor, Pledgee and Party C on the date of this
      Agreement;

            

    

     

    
      	
               
      

            	
              6.1.2

            	
              comply
      with the provisions of all laws and regulations applicable to the pledge
      of rights, and within 5 days of receipt of any notice, order or
      recommendation issued or prepared by relevant competent authorities
      regarding the Pledge, shall present the aforementioned notice, order or
      recommendation to Pledgee, and shall comply with the aforementioned
      notice, order or recommendation or submit objections and representations
      with respect to the aforementioned matters upon Pledgee’s reasonable
      request or upon consent of Pledgee;

            

    

     

    
      	
               
      

            	
              6.1.3

            	
              promptly
      notify Pledgee of any event or notice received by Pledgor that may have an
      impact on Pledgee’s rights to the Equity Interest or any portion thereof,
      as well as any event or notice received by Pledgor that may have an impact
      on any guarantees and other obligations of Pledgor arising out of this
      Agreement.

            

    

     

    
      	
               
      

            	
              6.2

            	
              Pledgor
      agrees that the rights acquired by Pledgee in accordance with this
      Agreement with respect to the Pledge shall not be interrupted or harmed by
      Pledgor or any heirs or representatives of Pledgor or any other persons
      through any legal proceedings.

            

    

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

     

    
      	
               
      

            	
              6.3

            	
              To
      protect or perfect the security interest granted by this Agreement for
      payment of the consulting and service fees under the Business Cooperation
      Agreement, Pledgor hereby undertakes to execute in good faith and to cause
      other parties who have an interest in the Pledge to execute all
      certificates, agreements, deeds and/or covenants required by Pledgee.
      Pledgor also undertakes to perform and to cause other parties who have an
      interest in the Pledge to perform actions required by Pledgee, to
      facilitate the exercise by Pledgee of its rights and authority granted
      thereto by this Agreement, and to enter into all relevant documents
      regarding ownership of Equity Interest with Pledgee or designee(s) of
      Pledgee (natural persons/legal persons).  Pledgor undertakes to
      provide Pledgee within a reasonable time with all notices, orders and
      decisions regarding the Pledge that are required by
    Pledgee.

            

    

     

    
      	
               
      

            	
              6.4

            	
              Pledgor
      hereby undertakes to comply with and perform all guarantees, promises,
      agreements, representations and conditions under this Agreement. In the
      event of failure or partial performance of its guarantees, promises,
      agreements, representations and conditions, Pledgor shall indemnify
      Pledgee for all losses resulting
therefrom.

            

    

     

    
      	
              7.

            	
              Event
      of Breach

            

    

     

    
      	
               
      

            	
              7.1

            	
              The
      following circumstances shall be deemed Event of
  Default:

            

    

     

    
      	
               
      

            	
              7.1.1

            	
              Party
      C fails to pay in full any of the consulting and service fees payable
      under the Business Cooperation Agreement or breaches any other obligations
      of Party C thereunder;

            

    

     

    
      	
               
      

            	
              7.1.2

            	
              Any
      representation or warranty by Pledgor in Article 5 of this Agreement
      contains material misrepresentations or errors, and/or Pledgor violates
      any of the warranties in Article 5 of this
  Agreement;

            

    

     

    
      	
               
      

            	
              7.1.3

            	
              Pledgor
      and Party C fail to register the Pledge in the shareholders’ register of
      Party C or fail to complete the Registration of Pledge as stipulated in
      Section 3.1;

            

    

     

    
      	
               
      

            	
              7.1.4

            	
              Pledgor
      and Party C breach any provisions of this
  Agreement;

            

    

     

    
      	
               
      

            	
              7.1.5

            	
              Except
      as expressly stipulated in Section 6.1.1, Pledgor transfers or purports to
      transfer or abandons the Equity Interest pledged or assigns the Equity
      Interest pledged without the written consent of
  Pledgee;

            

    

     

    
      	
               
      

            	
              7.1.6

            	
              The
      successor or custodian of Party C is capable of only partially perform or
      refuses to perform the payment obligations under the Business Cooperation
      Agreement; and

            

    

     

    
      	
               
      

            	
              7.1.7

            	
              Any
      other circumstances occur where Pledgee is or may become unable to
      exercise its right with respect to the
Pledge.

            

    

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

     

    
      	
               
      

            	
              7.2

            	
              Upon
      notice or discovery of the occurrence of any circumstances or event that
      may lead to the aforementioned circumstances described in Section 7.1,
      Pledgor shall immediately notify Pledgee in writing
      accordingly.

            

    

     

    
      	
               
      

            	
              7.3

            	
              Unless
      an Event of Default set forth in this Section 7.1 has been successfully
      resolved to Pledgee’s satisfaction, Pledgee may issue a Notice of Default
      to Pledgor in writing upon the occurrence of the Event of Default or at
      any time thereafter and demand that Pledgor immediately pay all
      outstanding payments due under the Business Cooperation Agreement and all
      other payments due to Pledgee, and/or dispose of the Pledge in accordance
      with the provisions of Article 8 of this
  Agreement.

            

    

     

    
      	
              8.

            	
              Exercise
      of Pledge

            

    

     

    
      	
               
      

            	
              8.1

            	
              Prior
      to the full payment of the consulting and service fees described in the
      Business Cooperation Agreement, without the Pledgee’s written consent,
      Pledgor shall not assign the Pledge or the Equity Interest in Party
      C.

            

    

     

    
      	
               
      

            	
              8.2

            	
              Pledgee
      may issue a Notice of Default to Pledgor when exercising the
      Pledge.

            

    

     

    
      	
               
      

            	
              8.3

            	
              Subject
      to the provisions of Section 7.3, Pledgee may exercise the right to
      enforce the Pledge concurrently with the issuance of the Notice of Default
      in accordance with Section 8.2 or at any time after the issuance of the
      Notice of Default. Once Pledgee elects to enforce the Pledge, Pledgor
      shall cease to be entitled to any rights or interests associated with the
      Equity Interest.

            

    

     

    
      	
               
      

            	
              8.4

            	
              In
      the event of default, Pledgee is entitled to take possession of the Equity
      Interest pledged hereunder and to dispose of the Equity Interest pledged,
      to the extent permitted and in accordance with applicable laws, without
      obligation to account to Pledgor for proceeds of disposition and Pledgor
      hereby waives any rights it may have to demand any such accounting from
      Pledgee. Likewise, in such circumstance Pledgor shall have no obligation
      to Pledgee for any deficiency remaining after such disposition of the
      Equity Interest pledged.

            

    

     

    
      	
               
      

            	
              8.5

            	
              When
      Pledgee disposes of the Pledge in accordance with this Agreement, Pledgor
      and Party C shall provide necessary assistance to enable Pledgee to
      enforce the Pledge in accordance with this
  Agreement.

            

    

     

    
      	
              9.

            	
              Assignment

            

    

     

    
      	
               
      

            	
              9.1

            	
              Without
      Pledgee’s prior written consent, Pledgor shall not have the right to
      assign or delegate its rights and obligations under this
      Agreement.

            

    

     

    
      	
               
      

            	
              9.2

            	
              This
      Agreement shall be binding on Pledgor and its successors and permitted
      assigns, and shall be valid with respect to Pledgee and each of its
      successors and assigns.

            

    

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

     

    
      	
               
      

            	
              9.3

            	
              At
      any time, Pledgee may assign any and all of its rights and obligations
      under the Business Cooperation Agreement to its designee(s) (natural/legal
      persons), in which case the assigns shall have the rights and obligations
      of Pledgee under this Agreement, as if it were the original party to this
      Agreement. When the Pledgee assigns the rights and obligations under the
      Business Cooperation Agreement, upon Pledgee’s request, Pledgor shall
      execute relevant agreements or other documents relating to such
      assignment.

            

    

     

    
      	
               
      

            	
              9.4

            	
              In
      the event of a change in Pledgee due to an assignment, Pledgor shall, at
      the request of Pledgee, execute a new pledge agreement with the new
      pledgee on the same terms and conditions as this Agreement, and
      re-register the same with relevant
AIC.

            

    

     

    
      	
               
      

            	
              9.5

            	
              Pledgor
      shall strictly abide by the provisions of this Agreement and other
      contracts jointly or separately executed by the Parties hereto or any of
      them, including the Exclusive Option Agreement and the Power of Attorney
      granted to Pledgee, perform the obligations hereunder and thereunder, and
      refrain from any action/omission that may affect the effectiveness and
      enforceability thereof. Any remaining rights of Pledgor with respect to
      the Equity Interest pledged hereunder shall not be exercised by Pledgor
      except in accordance with the written instructions of
    Pledgee.

            

    

     

    
      	
              10.

            	
              Termination

            

    

     

    Upon the
full payment of the consulting and service fees under the Business Cooperation
Agreement and upon termination of Party C’s obligations under the Business
Cooperation Agreement, this Agreement shall be terminated, and Pledgee shall
then cancel or terminate this Agreement as soon as reasonably
practicable.

     

    
      	
              11.

            	
              Handling
      Fees and Other Expenses

            

    

     

    All fees
and out of pocket expenses relating to this Agreement, including but not limited
to legal costs, costs of production, stamp tax and any other taxes and fees,
shall be borne by Party C.

     

    
      	
              12.

            	
              Confidentiality

            

    

     

    The
Parties acknowledge that any oral or written information exchanged among them
with respect to this Agreement is confidential information. Each Party shall
maintain the confidentiality of all such information, and without obtaining the
written consent of other Parties, it shall not disclose any relevant information
to any third parties, except in the following circumstances: (a) such
information is or will be in the public domain (provided that this is not the
result of a public disclosure by the receiving party); (b) information disclosed
as required by applicable laws or rules or regulations of any stock exchange; or
(c) information required to be disclosed by any Party to its legal counsel or
financial advisor regarding the transaction contemplated hereunder, and such
legal counsel or financial advisor are also bound by confidentiality duties
similar to the duties in this section. Disclosure of any confidential
information by the staff members or agency hired by any Party shall be deemed
disclosure of such confidential information by such Party, which Party shall be
held liable for breach of this Agreement. This section shall survive the
termination of this Agreement for any reason.

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

     

    
      	
              13.

            	
              Governing
      Law and Resolution of Disputes

            

    

     

    
      	
               
      

            	
              13.1

            	
              The
      execution, effectiveness, construction, performance, amendment and
      termination of this Agreement and the resolution of disputes hereunder
      shall be governed by the laws of
China.

            

    

     

    
      	
               
      

            	
              13.2

            	
              In
      the event of any dispute with respect to the construction and performance
      of the provisions of this Agreement, the Parties shall negotiate in good
      faith to resolve the dispute. In the event the Parties fail to reach an
      agreement on the resolution of such a dispute within 30 days after any
      Party’s request for resolution of the dispute through negotiations, any
      Party may submit the relevant dispute to the China International Economic
      and Trade Arbitration Commission for arbitration, in accordance with its
      then-effective arbitration rules. The arbitration shall be conducted in
      Beijing, and the language used during arbitration shall be Chinese. The
      arbitration ruling shall be final and binding on all
    Parties.

            

    

     

    
      	
               
      

            	
              13.3

            	
              Upon
      the occurrence of any disputes arising from the construction and
      performance of this Agreement or during the pending arbitration of any
      dispute, except for the matters under dispute, the Parties to this
      Agreement shall continue to exercise their respective rights under this
      Agreement and perform their respective obligations under this
      Agreement.

            

    

     

    
      	
              14.

            	
              Notices

            

    

     

    
      	
               
      

            	
              14.1

            	
              All
      notices and other communications required or permitted to be given
      pursuant to this Agreement shall be delivered personally or sent by
      registered mail, postage prepaid, by a commercial courier service or by
      facsimile transmission to the address of such party set forth below. A
      confirmation copy of each notice shall also be sent by E-mail. The dates
      on which notices shall be deemed to have been effectively given shall be
      determined as follows:

            

    

     

    
      	
               
      

            	
              14.1.1

            	
              Notices
      given by personal delivery, by courier service or by registered mail,
      postage prepaid, shall be deemed effectively given on the date of delivery
      or refusal at the address specified for
notices.

            

    

     

    
      	
               
      

            	
              14.1.2

            	
              Notices
      given by facsimile transmission shall be deemed effectively given on the
      date of successful transmission (as evidenced by an automatically
      generated confirmation of
transmission).

            

    

     

    
      	
               
      

            	
              14.2

            	
              For
      the purpose of notices, the addresses of the Parties are as
      follows:

            

    

     

    Party
A: Trunkbow Asia Pacific(Shandong) Co., Ltd

    Attn:  Ying
XIA

    Phone:0086-531-89706001

    Facsimile:0086-531-89706000

    E-mail:
xiaying@trunkbow.com

    
      
         

      

      
        7

        
          

        

      

      
         

      

    

     

    Party
B:        Wanchun HOU

    Address:        the
sixth floor, Mainbuilding, Shanda Technology Industrial Zone, Yingxiu Road,
Hi-tech Development District, Jinan

    Phone:
0086-531-67807788

     

    Party
C:        Trunkbow Technologies
(Shenzhen) Co., Ltd.

    Address:  25E,
East Building, Guangye Center, Fuhua Road, Futian District,
Shenzhen.

    Attn:  Qi
CHENG

    Phone:
0086-755-82028892

    Facsimile:
0086-755-82028883

    E-mail:
chengqi@trunkbow.com

     

    
      	
               
      

            	
              14.3

            	
              Any
      Party may at any time change its address for notices by a notice delivered
      to the other Parties in accordance with the terms
  hereof.

            

    

     

    
      	
              15.

            	
              Severability

            

    

     

    In the
event that one or several of the provisions of this Contract are found to be
invalid, illegal or unenforceable in any aspect in accordance with any laws or
regulations, the validity, legality or enforceability of the remaining
provisions of this Contract shall not be affected or compromised in any respect.
The Parties shall strive in good faith to replace such invalid, illegal or
unenforceable provisions with effective provisions that accomplish to the
greatest extent permitted by law and the intentions of the Parties, and the
economic effect of such effective provisions shall be as close as possible to
the economic effect of those invalid, illegal or unenforceable
provisions.

     

    
      	
              16.

            	
              Attachments

            

    

     

    The
attachments set forth herein shall be an integral part of this
Agreement.

     

    
      	
              17.

            	
              Effectiveness

            

    

     

    
      	
               
      

            	
              17.1

            	
              Any
      amendments, changes and supplements to this Agreement shall be in writing
      and shall become effective upon completion of the governmental filing
      procedures (if applicable) after the affixation of the signatures or seals
      of the Parties.

            

    

     

    
      	
               
      

            	
              17.2

            	
              This
      Agreement is written in Chinese and English in three copies. Pledgor,
      Pledgee and Party C shall hold one copy respectively. Each copy of this
      Agreement shall have equal validity. In case there is any conflict between
      the Chinese version and the English version, the Chinese version shall
      prevail.

            

    

    
      
         

      

      
        8

        
          

        

      

      
         

      

    

     

    IN
WITNESS WHEREOF, the Parties have executed, or caused their authorized
representatives to execute, this Share Pledge Agreement as of the date first
above written.

     

    Party
A:            Trunkbow
Asia Pacific(Shandong) Co., Ltd

    

    
      
        
          	
                  By:

                	
                  /s/ Wanchun
      HOU

                
	
                  Name:

                	
                  Wanchun
      HOU

                
	
                  Title:

                	
                  Legal
      Representative

                
	 
      	 
      
	
                  Party
      B:            Wanchun
      HOU

                
	 
      	 
      
	
                  By:

                	
                  /S/Wanchun
      HOU

                
	 
      	 
      
	
                  Party
      C:            Trunkbow
      Technologies (Shenzhen) Co., Ltd.

                
	 
      	 
      
	
                  By:

                	
                  /s/ Wanchun
      HOU

                
	
                  Name: 

                	
                  Wanchun
      HOU

                
	
                  Title:

                	
                  Legal
      Representative

                

        

      

    

    
      
         

      

      
        9

        
          

        

      

      
         

      

    

     

    Attachments:

     

    1.           Shareholders’
register of Trunkbow Technologies (Shenzhen) Co., Ltd.;

     

    2.           The
Capital Contribution Certificate for the Formation of Trunkbow Technologies
(Shenzhen) Co., Ltd.;

     

    3.           Exclusive
Business Cooperation Agreement;

     

    4.           Evidence
of Registration of Pledge (as applicable).

    
      
         

      

      
        10

        
          

        

      

      
         

      

    

     

    SHAREHOLDERS’
REGISTER OF

    TRUNKBOW
TECHNOLOGIES (SHENZHEN) CO., LTD.

     

    
      	
              1.

            	
              Name of Shareholder:
      Wanchun HOU

            

    

    
      	
               
      

            	
              ID Card No.:
      370102196509123716

            

    

    
      	
               
      

            	
              Capital Contribution:
      RMB 2,000,000

            

    

    
      	
               
      

            	
              Percentage of
      Contribution: 40%

            

    

    
      	
               
      

            	
              Capital Contribution
      Certificate No.: 001

            

    

     

    Wanchun
HOU has contributed RMB 2,00,000 to hold 40% of the equity interests of Trunkbow
Technologies (Shenzhen) Co., Ltd., and such 40% equity interest has been pledged
to Trunkbow Asia Pacific(Shandong) Co., Ltd.

     

    
      	
              2.

            	
              Name of Shareholder:
      Liangyao XIE

            

    

    
      	
               
      

            	
              ID Card No.:
      370111196606052012

            

    

    
      	
               
      

            	
              Capital Contribution:
      RMB 1,500,000

            

    

    
      	
               
      

            	
              Percentage of
      Contribution: 30%

            

    

    
      	
               
      

            	
              Capital Contribution
      Certificate No.: 002

            

    

     

    Liangyao
XIE has contributed RMB 1,50,000 to hold 30% of the equity interests of Trunkbow
Technologies (Shenzhen) Co., Ltd., and such 30% equity interest has been pledged
to Trunkbow Asia Pacific(Shandong) Co., Ltd.

     

    
      	
              3.

            	
              Name of Shareholder:
      Qiang LI

            

    

    
      	
               
      

            	
              ID Card No.:
      372427196804024513

            

    

    
      	
               
      

            	
              Capital Contribution:
      RMB 1,500,000

            

    

    
      	
               
      

            	
              Percentage of
      Contribution: 30%

            

    

    
      	
               
      

            	
              Capital Contribution
      Certificate No.: 003

            

    

     

    Qiang LI
has contributed RMB 1,50,000 to hold 30% of the equity interests of Trunkbow
Technologies (Shenzhen) Co., Ltd., and such 30% equity interest has been pledged
to Trunkbow Asia Pacific(Shandong) Co., Ltd.

    

    
      
        
          	 
      	
                  Trunkbow
      Technologies (Shenzhen) Co., Ltd.

                
	 
      	 
      	 
      
	 
      	
                  By:

                	
                  /s/ Wanchun
      HOU

                
	 
      	
                  Name:      Wanchun
      HOU

                
	 
      	
                  Title:  Legal
      Representative

                
	 
      	
                  (Seal
      of the Company)

                
	 
      	 
      
	 
      	
                  Date:  December
      20, 2007

                

        

      

    

    
      
         

      

      
        11

        
          

        

      

      
         

      

    

    CAPITAL
CONTRIBUTION CERTIFICATE

    FOR
SHENZHEN TRUNKBOW TECHNOLOGY DEVELOPMENT CO., LTD.

     

    (No:
001)

     

    Name
of the Company: Shenzhen Trunkbow Technology Development Co., Ltd.

    Establishment Date of the
Company: December 4, 2001

    Registered Capital of the
Company: RMB 5,000,000

    Name of the Shareholder:
Wanchun HOU

    ID Card No.:
370102196509123716

    Amount of the Capital Contributed by
the Shareholder: RMB 2,000,000

     

    It is
hereby certified that Wanchun HOU has contributed RMB 2,000,000 to hold 40% of
the equity interests of Shenzhen Trunkbow Technology Development Co., Ltd., and
such 40% equity interest has been pledged to Trunkbow Asia Pacific(Shandong)
Co., Ltd.

    

    
      
        
          	 
      	
                  Shenzhen
      Trunkbow Technology Development Co., Ltd.

                
	 
      	 
      	 
      
	 
      	
                  By:

                	
                  /s/ Wanchun
      HOU

                
	 
      	
                  Name:
      Wanchun HOU

                
	 
      	
                  Title:  Legal
      Representative

                
	 
      	
                  (Seal
      of the Company)

                
	 
      	 
      
	 
      	
                  Date:  December
      20, 2007

                

        

      

    

    
      
         

      

      
        12SHARE
PLEDGE AGREEMENT

     

    This
Share Pledge Agreement (this “Agreement”) has been executed by and among the
following parties on December 20, 2007 in Jinan, the People’s Republic of China
(“China”):

     

    
      	
              Party
      A:

            	
              Trunkbow Asia
      Pacific(Shandong) Co., Ltd
      (hereinafter
“Pledgee”)

            

    

    
      	
              Address:

            	
              The
      sixth floor, Mainbuilding, Shanda Technology Industrial Zone, Yingxiu
      Road, Hi-tech Development District,
Jinan

            

    

     

    
      	
              Party B:

            	
              Qiang
      LI (hereinafter “Pledgor”)

            

    

    
      	
              ID
      No.:

            	
              372427196804024513

            

    

     

    
      	
              Party
      C:

            	
              Trunkbow
      Technologies (Shenzhen) Co., Ltd.

            

    

    
      	
              Address:

            	
              25E,
      East Building, Guangye Center, Fuhua Road, Futian District,
      Shenzhen.

            

    

     

    In this
Agreement, each of Pledgee, Pledgor and Party C shall be referred to as a
“Party” respectively, and they shall be collectively referred to as the
“Parties”.

     

    Whereas:

     

    
      	
               
      

            	
              1.

            	
              Pledgor
      is a citizen of China, and holds 30% of the equity interest in Party C.
      Party C is a limited liability company registered in Shenzhen, China
      engaging in technology development and sales of computer system software,
      communication products, electronic and electrical products as well as
      economic information consulting. Party C intends to acknowledge the
      respective rights and obligations of Pledgor and Pledgee under this
      Agreement, and to provide any necessary assistance in registering the
      Pledge;

            

    

     

    
      	
               
      

            	
              2.

            	
              Pledgee
      is a wholly-foreign-owned enterprise registered in Jinan City, Shandong
      Province, China. Pledgee and Party C partially owned by Pledgor have
      executed an Exclusive Business Cooperation Agreement on the date of this
      Agreement;

            

    

     

    
      	
               
      

            	
              3.

            	
              To
      ensure that Pledgee collects all payments due by Party C, including
      without limitation the consulting and service fees regularly from Party C,
      Pledgor hereby pledges all of the equity interest he holds in Party C as
      security for payment of the consulting and service fees under the Business
      Cooperation Agreement.

            

    

     

    To
perform the provisions of the Business Cooperation Agreement, the Parties have
mutually agreed to execute this Agreement upon the following terms.

     

    
      	
              1.

            	
              Definitions

            

    

     

    Unless
otherwise provided herein, the terms below shall have the following
meanings:

     

    
      	
               
      

            	
              1.1

            	
              Pledge:
      shall refer to the security interest granted by Pledgor to Pledgee
      pursuant to Article 2 of this Agreement, i.e., the right of Pledgee to be
      compensated on a preferential basis with the conversion, auction or sales
      price of the Equity Interest.

            

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    
      	
               
      

            	
              1.2

            	
              Equity
      Interest: shall refer to all of the equity interests lawfully now held and
      hereafter acquired by Pledgor in Party
C.

            

    

     

    
      	
               
      

            	
              1.3

            	
              Term
      of Pledge: shall refer to the term set forth in Section 3.2 of this
      Agreement.

            

    

     

    
      	
               
      

            	
              1.4

            	
              Business
      Cooperation Agreement: shall refer to the Exclusive Business Cooperation
      Agreement executed by and between Party C partially owned by Pledgor and
      Pledgee on the date of this
Agreement.

            

    

     

    
      	
               
      

            	
              1.5

            	
              Event
      of Default: shall refer to any of the circumstances set forth in Article 7
      of this Agreement.

            

    

     

    
      	
               
      

            	
              1.6

            	
              Notice
      of Default: shall refer to the notice issued by Pledgee in accordance with
      this Agreement declaring an Event of
Default.

            

    

     

    
      	
              2.

            	
              The
      Pledge

            

    

     

    As
collateral security for the prompt and complete payment and performance when due
(whether at stated maturity, by acceleration or otherwise) of any or all the
payments due by Party C, including without limitation the consulting and
services fees payable to the Pledgee under the Business Cooperation Agreement,
Pledgor hereby pledges to Pledgee a first security interest in all of Pledgor’s
right, title and interest, whether now owned or hereafter acquired by Pledgor,
in the Equity Interest of Party C.

     

    
      	
              3.

            	
              Term
      of Pledge

            

    

     

    
      	
               
      

            	
              3.1

            	
              The
      Pledge shall become effective as of the date when the pledge of the Equity
      Interest is registered with relevant administration for industry and
      commerce (the “AIC”) in accordance with the PRC laws and regulations. The
      Pledge shall be continuously valid until all payments due under the
      Business Cooperation Agreement have been fulfilled by Party C. The parties
      agree that Pledgor and Party C shall register the Pledge in the
      shareholders’ register of Party C within 3 business days following the
      execution of this Agreement, and shall register the Pledge with relevant
      AIC in accordance with the PRC laws and regulations as soon as possible
      (the “Registration of Pledge”).

            

    

     

    
      	
               
      

            	
              3.2

            	
              During
      the Term of Pledge, in the event Party C fails to pay the exclusive
      consulting or service fees in accordance with the Business Cooperation
      Agreement, Pledgee shall have the right, but not the obligation, to
      dispose of the Pledge in accordance with the provisions of this
      Agreement.

            

    

     

    
      	
              4.

            	
              Custody
      of Records for Equity Interest subject to
Pledge

            

    

     

    
      	
               
      

            	
              4.1

            	
              During
      the Term of Pledge set forth in this Agreement, Pledgor shall deliver to
      Pledgee’s custody the capital contribution certificate for the Equity
      Interest and the shareholders’ register containing the Pledge within one
      week from the execution of this Agreement, and shall deliver to Pledgee’s
      custody the evidence of the Registration of Pledge (as applicable, the
      “Registration Evidence”) within one week from the completion of the
      Registration of Pledge. Pledgee shall have custody of such items during
      the entire Term of Pledge set forth in this
  Agreement.

            

    

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

     

    
      	
               
      

            	
              4.2

            	
              Pledgee
      shall have the right to collect dividends generated by the Equity Interest
      during the Term of Pledge.

            

    

     

    
      	
              5.

            	
              Representations
      and Warranties of Pledgor

            

    

     

    
      	
               
      

            	
              5.1

            	
              Pledgor
      is the sole legal and beneficial owner of the Equity
    Interest.

            

    

     

    
      	
               
      

            	
              5.2

            	
              Pledgee
      shall have the right to dispose of and transfer the Equity Interest in
      accordance with the provisions set forth in this
  Agreement.

            

    

     

    
      	
               
      

            	
              5.3

            	
              Except
      for the Pledge, Pledgor has not placed any security interest or other
      encumbrance on the Equity Interest.

            

    

     

    
      	
              6.

            	
              Covenants
      and Further Agreements of Pledgor

            

    

     

    
      	
               
      

            	
              6.1

            	
              Pledgor
      hereby covenants to the Pledgee, that during the term of this Agreement,
      Pledgor shall:

            

    

     

    
      	
               
      

            	
              6.1.1

            	
              not
      transfer the Equity Interest, place or permit the existence of any
      security interest or other encumbrance that may affect the Pledgee’s
      rights and interests in the Equity Interest, without the prior written
      consent of Pledgee, except for the performance of the Exclusive Option
      Agreement executed by Pledgor, Pledgee and Party C on the date of this
      Agreement;

            

    

     

    
      	
               
      

            	
              6.1.2

            	
              comply
      with the provisions of all laws and regulations applicable to the pledge
      of rights, and within 5 days of receipt of any notice, order or
      recommendation issued or prepared by relevant competent authorities
      regarding the Pledge, shall present the aforementioned notice, order or
      recommendation to Pledgee, and shall comply with the aforementioned
      notice, order or recommendation or submit objections and representations
      with respect to the aforementioned matters upon Pledgee’s reasonable
      request or upon consent of Pledgee;

            

    

     

    
      	
               
      

            	
              6.1.3

            	
              promptly
      notify Pledgee of any event or notice received by Pledgor that may have an
      impact on Pledgee’s rights to the Equity Interest or any portion thereof,
      as well as any event or notice received by Pledgor that may have an impact
      on any guarantees and other obligations of Pledgor arising out of this
      Agreement.

            

    

     

    
      	
               
      

            	
              6.2

            	
              Pledgor
      agrees that the rights acquired by Pledgee in accordance with this
      Agreement with respect to the Pledge shall not be interrupted or harmed by
      Pledgor or any heirs or representatives of Pledgor or any other persons
      through any legal proceedings.

            

    

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

     

    
      	
               
      

            	
              6.3

            	
              To
      protect or perfect the security interest granted by this Agreement for
      payment of the consulting and service fees under the Business Cooperation
      Agreement, Pledgor hereby undertakes to execute in good faith and to cause
      other parties who have an interest in the Pledge to execute all
      certificates, agreements, deeds and/or covenants required by Pledgee.
      Pledgor also undertakes to perform and to cause other parties who have an
      interest in the Pledge to perform actions required by Pledgee, to
      facilitate the exercise by Pledgee of its rights and authority granted
      thereto by this Agreement, and to enter into all relevant documents
      regarding ownership of Equity Interest with Pledgee or designee(s) of
      Pledgee (natural persons/legal persons).  Pledgor undertakes to
      provide Pledgee within a reasonable time with all notices, orders and
      decisions regarding the Pledge that are required by
    Pledgee.

            

    

     

    
      	
               
      

            	
              6.4

            	
              Pledgor
      hereby undertakes to comply with and perform all guarantees, promises,
      agreements, representations and conditions under this Agreement. In the
      event of failure or partial performance of its guarantees, promises,
      agreements, representations and conditions, Pledgor shall indemnify
      Pledgee for all losses resulting
therefrom.

            

    

     

    
      	
              7.

            	
              Event
      of Breach

            

    

     

    
      	
               
      

            	
              7.1

            	
              The
      following circumstances shall be deemed Event of
  Default:

            

    

     

    
      	
               
      

            	
              7.1.1

            	
              Party
      C fails to pay in full any of the consulting and service fees payable
      under the Business Cooperation Agreement or breaches any other obligations
      of Party C thereunder;

            

    

     

    
      	
               
      

            	
              7.1.2

            	
              Any
      representation or warranty by Pledgor in Article 5 of this Agreement
      contains material misrepresentations or errors, and/or Pledgor violates
      any of the warranties in Article 5 of this
  Agreement;

            

    

     

    
      	
               
      

            	
              7.1.3

            	
              Pledgor
      and Party C fail to register the Pledge in the shareholders’ register of
      Party C or fail to complete the Registration of Pledge as stipulated in
      Section 3.1;

            

    

     

    
      	
               
      

            	
              7.1.4

            	
              Pledgor
      and Party C breach any provisions of this
  Agreement;

            

    

     

    
      	
               
      

            	
              7.1.5

            	
              Except
      as expressly stipulated in Section 6.1.1, Pledgor transfers or purports to
      transfer or abandons the Equity Interest pledged or assigns the Equity
      Interest pledged without the written consent of
  Pledgee;

            

    

     

    
      	
               
      

            	
              7.1.6

            	
              The
      successor or custodian of Party C is capable of only partially perform or
      refuses to perform the payment obligations under the Business Cooperation
      Agreement; and

            

    

     

    
      	
               
      

            	
              7.1.7

            	
              Any
      other circumstances occur where Pledgee is or may become unable to
      exercise its right with respect to the
Pledge.

            

    

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

     

    
      	
               
      

            	
              7.2

            	
              Upon
      notice or discovery of the occurrence of any circumstances or event that
      may lead to the aforementioned circumstances described in Section 7.1,
      Pledgor shall immediately notify Pledgee in writing
      accordingly.

            

    

     

    
      	
               
      

            	
              7.3

            	
              Unless
      an Event of Default set forth in this Section 7.1 has been successfully
      resolved to Pledgee’s satisfaction, Pledgee may issue a Notice of Default
      to Pledgor in writing upon the occurrence of the Event of Default or at
      any time thereafter and demand that Pledgor immediately pay all
      outstanding payments due under the Business Cooperation Agreement and all
      other payments due to Pledgee, and/or dispose of the Pledge in accordance
      with the provisions of Article 8 of this
  Agreement.

            

    

     

    
      	
              8.

            	
              Exercise
      of Pledge

            

    

     

    
      	
               
      

            	
              8.1

            	
              Prior
      to the full payment of the consulting and service fees described in the
      Business Cooperation Agreement, without the Pledgee’s written consent,
      Pledgor shall not assign the Pledge or the Equity Interest in Party
      C.

            

    

     

    
      	
               
      

            	
              8.2

            	
              Pledgee
      may issue a Notice of Default to Pledgor when exercising the
      Pledge.

            

    

     

    
      	
               
      

            	
              8.3

            	
              Subject
      to the provisions of Section 7.3, Pledgee may exercise the right to
      enforce the Pledge concurrently with the issuance of the Notice of Default
      in accordance with Section 8.2 or at any time after the issuance of the
      Notice of Default. Once Pledgee elects to enforce the Pledge, Pledgor
      shall cease to be entitled to any rights or interests associated with the
      Equity Interest.

            

    

     

    
      	
               
      

            	
              8.4

            	
              In
      the event of default, Pledgee is entitled to take possession of the Equity
      Interest pledged hereunder and to dispose of the Equity Interest pledged,
      to the extent permitted and in accordance with applicable laws, without
      obligation to account to Pledgor for proceeds of disposition and Pledgor
      hereby waives any rights it may have to demand any such accounting from
      Pledgee. Likewise, in such circumstance Pledgor shall have no obligation
      to Pledgee for any deficiency remaining after such disposition of the
      Equity Interest pledged.

            

    

     

    
      	
               
      

            	
              8.5

            	
              When
      Pledgee disposes of the Pledge in accordance with this Agreement, Pledgor
      and Party C shall provide necessary assistance to enable Pledgee to
      enforce the Pledge in accordance with this
  Agreement.

            

    

     

    
      	
              9.

            	
              Assignment

            

    

     

    
      	
               
      

            	
              9.1

            	
              Without
      Pledgee’s prior written consent, Pledgor shall not have the right to
      assign or delegate its rights and obligations under this
      Agreement.

            

    

     

    
      	
               
      

            	
              9.2

            	
              This
      Agreement shall be binding on Pledgor and its successors and permitted
      assigns, and shall be valid with respect to Pledgee and each of its
      successors and assigns.

            

    

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

     

    
      	
               
      

            	
              9.3

            	
              At
      any time, Pledgee may assign any and all of its rights and obligations
      under the Business Cooperation Agreement to its designee(s) (natural/legal
      persons), in which case the assigns shall have the rights and obligations
      of Pledgee under this Agreement, as if it were the original party to this
      Agreement. When the Pledgee assigns the rights and obligations under the
      Business Cooperation Agreement, upon Pledgee’s request, Pledgor shall
      execute relevant agreements or other documents relating to such
      assignment.

            

    

     

    
      	
               
      

            	
              9.4

            	
              In
      the event of a change in Pledgee due to an assignment, Pledgor shall, at
      the request of Pledgee, execute a new pledge agreement with the new
      pledgee on the same terms and conditions as this Agreement, and
      re-register the same with relevant
AIC.

            

    

     

    
      	
               
      

            	
              9.5

            	
              Pledgor
      shall strictly abide by the provisions of this Agreement and other
      contracts jointly or separately executed by the Parties hereto or any of
      them, including the Exclusive Option Agreement and the Power of Attorney
      granted to Pledgee, perform the obligations hereunder and thereunder, and
      refrain from any action/omission that may affect the effectiveness and
      enforceability thereof. Any remaining rights of Pledgor with respect to
      the Equity Interest pledged hereunder shall not be exercised by Pledgor
      except in accordance with the written instructions of
    Pledgee.

            

    

     

    
      	
              10.

            	
              Termination

            

    

     

    Upon the
full payment of the consulting and service fees under the Business Cooperation
Agreement and upon termination of Party C’s obligations under the Business
Cooperation Agreement, this Agreement shall be terminated, and Pledgee shall
then cancel or terminate this Agreement as soon as reasonably
practicable.

     

    
      	
              11.

            	
              Handling
      Fees and Other Expenses

            

    

     

    All fees
and out of pocket expenses relating to this Agreement, including but not limited
to legal costs, costs of production, stamp tax and any other taxes and fees,
shall be borne by Party C.

     

    
      	
              12.

            	
              Confidentiality

            

    

     

    The
Parties acknowledge that any oral or written information exchanged among them
with respect to this Agreement is confidential information. Each Party shall
maintain the confidentiality of all such information, and without obtaining the
written consent of other Parties, it shall not disclose any relevant information
to any third parties, except in the following circumstances: (a) such
information is or will be in the public domain (provided that this is not the
result of a public disclosure by the receiving party); (b) information disclosed
as required by applicable laws or rules or regulations of any stock exchange; or
(c) information required to be disclosed by any Party to its legal counsel or
financial advisor regarding the transaction contemplated hereunder, and such
legal counsel or financial advisor are also bound by confidentiality duties
similar to the duties in this section. Disclosure of any confidential
information by the staff members or agency hired by any Party shall be deemed
disclosure of such confidential information by such Party, which Party shall be
held liable for breach of this Agreement. This section shall survive the
termination of this Agreement for any reason.

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

     

    
      	
              13.

            	
              Governing
      Law and Resolution of Disputes

            

    

     

    
      	
               
      

            	
              13.1

            	
              The
      execution, effectiveness, construction, performance, amendment and
      termination of this Agreement and the resolution of disputes hereunder
      shall be governed by the laws of
China.

            

    

     

    
      	
               
      

            	
              13.2

            	
              In
      the event of any dispute with respect to the construction and performance
      of the provisions of this Agreement, the Parties shall negotiate in good
      faith to resolve the dispute. In the event the Parties fail to reach an
      agreement on the resolution of such a dispute within 30 days after any
      Party’s request for resolution of the dispute through negotiations, any
      Party may submit the relevant dispute to the China International Economic
      and Trade Arbitration Commission for arbitration, in accordance with its
      then-effective arbitration rules. The arbitration shall be conducted in
      Beijing, and the language used during arbitration shall be Chinese. The
      arbitration ruling shall be final and binding on all
    Parties.

            

    

     

    
      	
               
      

            	
              13.3

            	
              Upon
      the occurrence of any disputes arising from the construction and
      performance of this Agreement or during the pending arbitration of any
      dispute, except for the matters under dispute, the Parties to this
      Agreement shall continue to exercise their respective rights under this
      Agreement and perform their respective obligations under this
      Agreement.

            

    

     

    
      	
              14.

            	
              Notices

            

    

     

    
      	
               
      

            	
              14.1

            	
              All
      notices and other communications required or permitted to be given
      pursuant to this Agreement shall be delivered personally or sent by
      registered mail, postage prepaid, by a commercial courier service or by
      facsimile transmission to the address of such party set forth below. A
      confirmation copy of each notice shall also be sent by E-mail. The dates
      on which notices shall be deemed to have been effectively given shall be
      determined as follows:

            

    

     

    
      	
               
      

            	
              14.1.1

            	
              Notices
      given by personal delivery, by courier service or by registered mail,
      postage prepaid, shall be deemed effectively given on the date of delivery
      or refusal at the address specified for
notices.

            

    

     

    
      	
               
      

            	
              14.1.2

            	
              Notices
      given by facsimile transmission shall be deemed effectively given on the
      date of successful transmission (as evidenced by an automatically
      generated confirmation of
transmission).

            

    

    
      
         

      

      
        7

        
          

        

      

      
         

      

    

     

    
      	
               
      

            	
              14.2

            	
              For
      the purpose of notices, the addresses of the Parties are as
      follows:

            

    

     

    Party
A: Trunkbow Asia Pacific(Shandong) Co., Ltd

    Attn:  Ying
XIA

    Phone:0086-531-89706001

    Facsimile:0086-531-89706000

    E-mail:
xiaying@trunkbow.com

     

    Party
B:         Qiang LI

    Address:        the
sixth floor, Mainbuilding, Shanda Technology Industrial Zone, Yingxiu Road,
Hi-tech Development District, Jinan

    Phone:
0086-531-67809988

     

    Party
C:         Trunkbow Technologies
(Shenzhen) Co., Ltd.

    Address:  25E,
East Building, Guangye Center, Fuhua Road, Futian District,
Shenzhen.

    Attn:  Qi
CHENG

    Phone:
0086-755-82028892

    Facsimile:
0086-755-82028883

    E-mail:
chengqi@trunkbow.com

     

    
      	
               
      

            	
              14.3

            	
              Any
      Party may at any time change its address for notices by a notice delivered
      to the other Parties in accordance with the terms
  hereof.

            

    

     

    
      	
              15.

            	
              Severability

            

    

     

    In the
event that one or several of the provisions of this Contract are found to be
invalid, illegal or unenforceable in any aspect in accordance with any laws or
regulations, the validity, legality or enforceability of the remaining
provisions of this Contract shall not be affected or compromised in any respect.
The Parties shall strive in good faith to replace such invalid, illegal or
unenforceable provisions with effective provisions that accomplish to the
greatest extent permitted by law and the intentions of the Parties, and the
economic effect of such effective provisions shall be as close as possible to
the economic effect of those invalid, illegal or unenforceable
provisions.

     

    
      	
              16.

            	
              Attachments

            

    

     

    The
attachments set forth herein shall be an integral part of this
Agreement.

     

    
      	
              17.

            	
              Effectiveness

            

    

     

    
      	
               
      

            	
              17.1

            	
              Any
      amendments, changes and supplements to this Agreement shall be in writing
      and shall become effective upon completion of the governmental filing
      procedures (if applicable) after the affixation of the signatures or seals
      of the Parties.

            

    

     

    
      	
               
      

            	
              17.2

            	
              This
      Agreement is written in Chinese and English in three copies. Pledgor,
      Pledgee and Party C shall hold one copy respectively. Each copy of this
      Agreement shall have equal validity. In case there is any conflict between
      the Chinese version and the English version, the Chinese version shall
      prevail.

            

    

    
      
         

      

      
        8

        
          

        

      

      
         

      

    

     

    IN
WITNESS WHEREOF, the Parties have executed, or caused their authorized
representatives to execute, this Share Pledge Agreement as of the date first
above written.

     

    Party
A:        Trunkbow Asia
Pacific(Shandong) Co., Ltd

     

    
      
        	
                By:

              	
                /s/
      Wanchun
      HOU

              
	
                Name:

              	
                Wanchun
      HOU

              
	
                Title:

              	
                Legal
      Representative

              
	 
      	 
      
	
                Party
      B:        Qiang
  LI

              
	 
      	 
      
	
                By:

              	
                /S/Qiang
      LI

              
	 
      	 
      
	
                Party
      C:        Trunkbow Technologies
      (Shenzhen) Co., Ltd.

              
	 
      	 
      
	
                By:

              	
                /s/
      Wanchun
      HOU

              
	
                Name: 

              	
                Wanchun
      HOU

              
	
                Title:

              	
                Legal
      Representative

              

      

    

    
      
         

      

      
        9

        
          

        

      

      
         

      

    

     

    ATTACHMENTS:

     

    1.           Shareholders’
register of Trunkbow Technologies (Shenzhen) Co., Ltd.;

     

    2.           The
Capital Contribution Certificate for the Formation of Trunkbow Technologies
(Shenzhen) Co., Ltd.;

     

    3.           Exclusive
Business Cooperation Agreement;

     

    4.           Evidence
of Registration of Pledge (as applicable).

    
      
         

      

      
        10

        
          

        

      

      
         

      

    

     

    SHAREHOLDERS’
REGISTER OF

    TRUNKBOW
TECHNOLOGIES (SHENZHEN) CO., LTD.

     

    
      	
              1.

            	
              Name
      of Shareholder: Wanchun
HOU

            

    

    
      	
               
      

            	
              ID
      Card No.:
  370102196509123716

            

    

    
      	
               
      

            	
              Capital
      Contribution: RMB
2,000,000

            

    

    
      	
               
      

            	
              Percentage
      of Contribution:
40%

            

    

    
      	
               
      

            	
              Capital
      Contribution Certificate No.:
  001

            

    

     

    Wanchun
HOU has contributed RMB 2,00,000 to hold 40% of the equity interests of Trunkbow
Technologies (Shenzhen) Co., Ltd., and such 40% equity interest has been pledged
to Trunkbow Asia Pacific(Shandong) Co., Ltd.

     

    
      	
              2.

            	
              Name
      of Shareholder: Liangyao
  XIE

            

    

    
      	
               
      

            	
              ID
      Card No.:
  370111196606052012

            

    

    
      	
               
      

            	
              Capital
      Contribution: RMB
1,500,000

            

    

    
      	
               
      

            	
              Percentage
      of Contribution:
30%

            

    

    
      	
               
      

            	
              Capital
      Contribution Certificate No.:
  002

            

    

     

    Liangyao
XIE has contributed RMB 1,50,000 to hold 30% of the equity interests of Trunkbow
Technologies (Shenzhen) Co., Ltd., and such 30% equity interest has been pledged
to Trunkbow Asia Pacific(Shandong) Co., Ltd.

     

    
      	
              3.

            	
              Name
      of Shareholder: Qiang
LI

            

    

    
      	
               
      

            	
              ID
      Card No.:
  372427196804024513

            

    

    
      	
               
      

            	
              Capital
      Contribution: RMB
1,500,000

            

    

    
      	
               
      

            	
              Percentage
      of Contribution:
30%

            

    

    
      	
               
      

            	
              Capital
      Contribution Certificate No.:
  003

            

    

     

    Qiang LI
has contributed RMB 1,50,000 to hold 30% of the equity interests of Trunkbow
Technologies (Shenzhen) Co., Ltd., and such 30% equity interest has been pledged
to Trunkbow Asia Pacific(Shandong) Co., Ltd.

     

    
      
        
          	 
      	
                  Trunkbow
      Technologies (Shenzhen) Co., Ltd.

                
	 
      	 
      	 
      
	 
      	
                  By: 

                	
                  /s/
      Wanchun
      HOU

                
	 
      	
                  Name:     Wanchun
      HOU

                
	 
      	
                  Title:  Legal
      Representative

                
	 
      	
                  (Seal
      of the Company)

                
	 
      	 
      
	 
      	
                  Date:  December
      20, 2007

                

        

      

    

    
      
         

      

      
        11

        
          

        

      

      
         

      

    

    CAPITAL
CONTRIBUTION CERTIFICATE

    FOR
SHENZHEN TRUNKBOW TECHNOLOGY DEVELOPMENT CO., LTD.

     

    (No:
003)

     

    Name
of the Company: Shenzhen Trunkbow Technology Development Co., Ltd.

    Establishment
Date of the Company: December 4, 2001

    Registered
Capital of the Company: RMB 5,000,000

    Name
of the Shareholder: Qiang LI

    ID
Card No.: 372427196804024513

    Amount
of the Capital Contributed by the Shareholder: RMB
1,500,000

     

    It is
hereby certified that Qiang LI has contributed RMB 1,500,000 to hold 30% of the
equity interests of Shenzhen Trunkbow Technology Development Co., Ltd., and such
30% equity interest has been pledged to Trunkbow Asia Pacific(Shandong) Co.,
Ltd.

     

    
      
        
          	 
      	
                  Shenzhen
      Trunkbow Technology Development Co., Ltd.

                
	 
      	 
      	 
      
	 
      	
                  By: 

                	
                  /s/
      Wanchun HOU

                
	 
      	
                  Name:
      Wanchun HOU

                
	 
      	
                  Title:  Legal
      Representative

                
	 
      	
                  (Seal
      of the Company)

                
	 
      	 
      
	 
      	
                  Date:  December
      20, 2007

                

        

      

    

    
      
         

      

      
        12

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