Document:

Exhibit
10.18

    

    

    STANDARD
MICROSYSTEMS CORPORATION

    SEVERANCE
PLAN

    

    WHEREAS,
Standard Microsystems Corporation ("SMSC" or the “Company”) maintains the
Standard Microsystems Corporation Severance Plan (the "Severance Plan" or
"Plan"); and

    

    WHEREAS,
SMSC acknowledges that the Severance Plan is a "welfare plan" as defined under
Section 3(1) of the Employee Retirement Income Security Act of 1974, as amended
("ERISA"); and

    

    WHEREAS,
the American Jobs Creation Act of 2004 (“AJCA”) enacted new Section 409A of the
Internal Revenue Code (the “Code”), imposing new rules for all forms of deferred
compensation, including benefits under the SMSC Severance Plan; and

    

    

    WHEREAS,
SMSC amended and restated the Severance Plan effective as of December 31, 2008
to comply with Section 409A of the Code, including all IRS announcements and
notices, and the Final Regulations issued under Section 409A; and

    

    WHEREAS,
SMSC wishes to amend the Severance Plan effective as of January 14, 2009 for
business reasons; and

    

    WHEREAS,
due to the brevity of the Plan, this document shall serve as both the Plan
document and the Summary Plan Description for the Severance Plan;
and

    

    WHEREAS,
Section 22 of the Severance Plan retained the right for SMSC to amend, modify or
terminate the Plan.

    

    NOW,
THEREFORE, the Plan is amended and restated as follows:

    

    
      	
              1.  

            	
              Effective
      Date.  The Plan became effective as of January 1,
      1986.  The Plan was amended and restated effective as of
      December 31, 2008 to comply with Section 409A of the Code.  SMSC
      can demonstrate its good faith compliance with Section 409A from January
      1, 2005 to December 31, 2008, as permitted under the Final Treasury
      Regulations issued under Section 409A of the Code.  The Plan is
      being amended as of January 14, 2009 for business
  reasons.

            

    

    

    
      	
              2.  

            	
              Plan
      Year.  The Plan Year shall be the calendar
      year.

            

    

    

    
      	
              3.  

            	
              General
      Definitions.

            

    

     

    
      
        	
                 
      

              	
                a.

              	
                "Base Salary" shall mean
      an eligible employee's regular salary as determined in accordance with
      SMSC's payroll records, excluding any bonuses, commissions, taxable or
      non-taxable fringe benefits, car or other allowances, and any other forms
      of compensation.

              

      

       

      
        
           

        

        
          1

          
            

          

        

        
           

        

         

      

    

    
      	
               
      

            	
              b.

            	
              “Committee” means the
      Section 401(k) Committee established for purposes of the SMSC Section
      401(k) Savings Plan.

            

    

    
      	
               
      

            	 

    

    
      	
               
      

            	
              c.

            	
              “Disability” means a
      Participant is unable to engage in any substantial gainful activity by
      reason of any medically determinable physical or mental impairment, which
      can be expected to result in death or can be expected to last for a
      continuous period of not less than 12 months, as determined by an
      independent third party physician, selected within the discretion of the
      Committee.  The determination of whether a Participant is
      Disabled shall be determined by the Committee, in its sole discretion, but
      subject to the provisions of Section
409A.

            

    

    

    
      	
               
      

            	
              d.

            	
              "Employee" shall mean
      any individual employed directly by SMSC or any Related Company regularly
      scheduled to work at least 30 hours per week, excluding any part time,
      temporary, seasonal, and leased employees, and excluding any independent
      contractors and consultants.

            

    

    

    
      	
               
      

            	
              e.

            	
              “Key Employee” means an
      individual as described in Section 416(i) of the Code, determined without
      regard to Section 416(i)(5) thereof.  For purposes of this
      provision, a Key Employee is an officer earning over $140,000 in 2006,
      $145,000 in 2007, $150,000 in 2008 and $165,000 in 2009 (with a limit of
      no more than 50 employees, or if less, the greater of 3 or 10% of all
      employees); a 5% owner; or a 1% owner having annual compensation of more
      than $150,000.  All amounts shall automatically be increased as
      provided under the Code for cost of living or other
      charges.  

            

    

    

    
      	
               
      

            	
              f.

            	
              “Participating Company”
      shall mean any Related Company located in the United
      States.

            

    

    

    
      	
               
      

            	
              g.

            	
              "Related Company" means
      any entity that is within SMSC's "controlled group", as defined under
      Section 1563 of the Code.

            

    

    

    
      	
               
      

            	
              h.

            	
              “Separation from Service”
      shall have the meaning set forth in Section 409A of the Code and the
      regulations thereunder.  Consistent with Final Treasury
      Regulation Section 1.409A-1(h), or any subsequent guidance under Section
      409A of the Code, no Separation from Service shall occur if an Eligible
      Employee continues to perform services as a consultant or an Employee in
      accordance with the following
rules:

            

    

    

    
      	
               
      

            	
              i.

            	
              Leave of
      Absence.  For purposes of Section 409A, the employment
      relationship is treated as continuing in effect while a Eligible Employee
      is on military leave, sick leave, or other bona fide leave of absence, as
      long as the period of leave does not exceed 6 months, or if longer, as
      long as the Eligible Employee’s right to reemployment with the Employer
      provided either by statute or contract.  Otherwise, after a 6
      month leave of absence, the employment relationship is deemed
      terminated.

            

    

     

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

     

    
      	
               
      

            	
              ii.

            	
              Part-Time
      Status.  Whether or not a termination of employment
      occurs is determined based upon all facts and
      circumstances.  However, in the event that services provided by
      an Eligible Employee are insignificant, a Separation from Service shall be
      deemed to have occurred.  For purposes of Section 409A, if an
      Eligible Employee is providing services to SMSC or any Related Entities at
      a rate that is at least equal to 20% of the services rendered, on average,
      during the immediately preceding 3 full calendar years of employment (or
      such lesser period), and the annual compensation for such services is at
      least 20% of the average annual compensation earned during the final 3
      full calendar years of employment (or such lesser period), no termination
      shall be deemed to have occurred since such services are not
      insignificant.

            

    

    

    
      	
               
      

            	
              iii.

            	
              Consulting
      Services.  Where an Eligible Employee continues to
      provide services to SMSC or any Related Entities in a capacity other than
      as an employee, a Separation from Service shall not be deemed to have
      occurred if the Eligible Employee is providing services at an annual rate
      that is 50% or more of the services rendered, on average, during the
      immediately preceding 3 full calendar years of employment (or such lesser
      period) and the annual remuneration for such services is 50% or more of
      the annual remuneration earned during the final 3 full calendar years of
      employment (or such lesser period).

            

    

    

    
      	
               
      

            	
              i.

            	
              “Service Date” means an
      Eligible Employee’s initial date of hire or any re-hire date, if
      later.  In certain instances (which must be approved in writing
      by the CEO or the Vice President of Human Resources of SMSC), Eligible
      Employees may be granted past service credit with former
      employers.  In this event, the Service Date may be determined
      prior to an Eligible Employee’s date of hire or re-hire with SMSC, within
      SMSC’s discretion or the provisions of any acquisition or other
      agreement.

            

    

    

    
      	
               
      

            	
              j.

            	
              “Specified Employee”
      means a Key Employee who is employed by SMSC or any Related Entities which
      has its stock publicly traded on an established securities
      market.  For purposes of the Plan, the Specified Employee
      Identification Date shall be each December 31, and the Specified Employee
      Effective Date shall be the first day of the fourth month following the
      Specified Employee Identification Date (i.e., each April
      1).  Specified Employees shall be determined by an officer of
      SMSC on an annual basis for purposes of all nonqualified deferred
      compensation plans and any other programs in accordance with the
      provisions of Section 409A of the
Code.

            

    

    
      	
               
      

            	
               
  

            

    

    
      	
              4.

            	
              Eligibility for the Basic
      Severance Benefit.  All Employees (other than excluded
      employees) of SMSC and any Participating Companies are eligible for the
      Basic Severance Benefit described in Section 5 (the "Basic Severance
      Benefit"), unless benefits are otherwise precluded under the terms of this
      Plan.  Employees satisfying these requirements shall be referred
      to as "Eligible Employees."  Notwithstanding any provision to
      the contrary, however, in no event shall any Basic Severance Benefits
      under the Plan be provided to individuals who are hired as temporary
      employees for a specified period of time; are offered but refuse to accept
      another suitable position within the organization; or who are provided the
      opportunity to be retained for any length of time by any successor
      employer or entities. Nor shall any Basic Severance Benefits be payable to
      any Eligible Employees who are eligible for any Executive Severance
      Benefits or who have a separately negotiated employment or severance
      agreement with SMSC, to the extent that such Executive Severance Benefits
      or benefits under a separately negotiated employment or severance
      agreement equal or exceed the Basic Severance
  Benefit.

            

    

    

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

     

    5.           
Basic Severance
Benefits.

    

    
      	
               
      

            	
              a.

            	
              Cash
      Benefits.  Eligible Employees shall be entitled to a
      severance benefit equal to 1⁄2 of a week's base pay for each 6 months of
      Continuous Service measured from an Eligible Employee's Service Date (the
      “Basic Benefit”).  The Basic Benefit shall be increased by a
      multiplier of one and one half (1.5) only for Continuous Service by an
      Eligible Employee  between five (5) and ten (10) years of
      service.   The Basic Benefit shall be further increased by
      a multiplier of two (2) only for Continuous Service by an Employee after
      their tenth year. To illustrate the above formula, an Eligible Employee
      with thirteen (13) years of Continuous Service would receive a severance
      benefit equal to 18.5 weeks of base pay calculated as
    follows:

            

    

    

    
      	      
              (i)  
         

            	      
              1⁄2 week of base pay x
      2 x 5 years (Years 1 to 5) =
      5
      weeks.

            
	 	 
	
              (ii)  
        

            	
              1⁄2 week of base pay x
      2 x 5 years (Years 5 to 10)
      x 1.5 = 7.5
    weeks.

            

    

    

    
      	
              (iii) 
          

            	
              1⁄2 week of base pay x
      2 x 3 years (Years 10 to 13)
      x 2 = 6
  weeks.

            

    

    

    
      	
              (iv)   
        

            	
              Total
      Cash Benefit is 18.5 weeks of base
      salary.

            

    

    

    Notwithstanding
anything to the contrary in this Plan, the maximum benefit that any Eligible
Employee shall receive under the Severance Plan, exclusive of employees
receiving benefits under Section 8, shall be a maximum benefit of 26 weeks for
any Eligible Employees.  In determining Continuous Service for
purposes of computing severance benefits, all periods of time from an
individual's Service Date during which an eligible employee is “actively at
work” shall be taken into consideration, regardless of the actual hours worked
in any period of time, plus any leave time taken under the Family Medical Leave
Act.  Thus, any periods during which an Eligible Employee is absent
from work, other than Family Medical Leaves, shall not be considered in
determining Continuous Service.  No severance benefits shall be paid
under the Plan for any partial periods.

    

    Notwithstanding
any provision to the contrary, all Eligible Employees shall be paid a "Minimum
Benefit" equal to 2 weeks of base pay.   This Minimum Benefit is
inclusive of the severance benefit determined above, based upon an Eligible
Employee’s Continuous Service, and shall not be paid in addition to any benefits
based upon Continuous Service.

     

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

    
 

    b.           COBRA Benefits.  As
an additional severance benefit, whether an Employee receives the Basic
Severance Benefit or the Executive Severance Benefit, SMSC shall also pay for
100% of the cost of any continuation health coverage if elected under COBRA, by
the Employee or any qualified beneficiaries, for coverage in existence at the
time of any qualifying event, for a period equal to the number of weeks of
severance to which the Employee is entitled following termination
of  their employment plus an additional period of time until the end
of the calendar month in which the severance period ends.  Using the
above example in Section 5.a., if the Employee is entitled to receive 18.5 weeks
of severance, then SMSC shall pay 100% of the cost of any continuation health
coverage if elected under COBRA for 18.5 weeks following the termination of the
Employee plus the
number of days left in the month that is 18.5 weeks after the Employee’s last
date of employment.  Notwithstanding
the foregoing, each Employee shall receive a minimum benefit of three months
paid COBRA coverage.  The payment of any COBRA premiums shall not
extend the period of any COBRA entitlement, and shall only apply for coverage in
effect at the time of a termination, for which COBRA election rights
exist.  The Employee and any qualified beneficiaries may thereafter
continue COBRA benefits at their own cost for any remaining periods of
coverage.  However, COBRA coverage shall be terminated when any
subsequent coverage is obtained and the Employee shall notify SMSC when such
subsequent coverage commences.

    

    
      	
               
      

            	
              c.

            	
              No Deferred
      Compensation.  The continuation of benefits under COBRA
      and other benefits must be incurred and paid by December 31 of the second
      calendar year following the calendar year in which a separation from
      service occurs.  To the extent that any benefits would extend
      beyond this period, a single lump cash payment will be made as of the
      applicable December 31, in order to avoid any further deferrals of
      compensation.

            

    

    

    
      	
               
      

            	
              d.

            	
              Other
      Benefits.  Other than medical coverage (including dental,
      vision, prescription drug and similar coverage, all other benefits, such
      as group-term life insurance, long-term disability, short-term disability
      and other welfare benefits, shall be terminated in accordance with the
      provisions of all plans, with any applicable individual conversion
      rights.

            

    

    

    
      	
              6.

            	
              Entitlement to Basic Severance
      Benefits.  An Eligible Employee shall be entitled to the
      Basic Severance Benefits if an Eligible Employee's employment is
      involuntarily terminated with SMSC, unless such termination is for “Cause"
      as defined below in this Section 6.  In the event of a
      termination for “Cause", including unsatisfactory job performance, no
      Basic Severance Benefits shall be
paid.

            

    

    

    For
purposes of this Plan the term "Cause" shall include, but not be limited to the
following: any material violation of the terms of any of SMSC's personnel
policies or procedures; any material misstatement contained in the Eligible
Employee's employment application; commission by the Eligible Employee of any
crime or fraud against SMSC or its property or any crime involving moral
turpitude or reasonably likely to bring discredit upon SMSC; unsatisfactory job
performance; material failure to perform or meet standards of performance
established by SMSC with respect to any services to be provide by the Eligible
Employee; and any violation of SMSC's operating policies.

     

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

    
 

    
      	
              7.  

            	
              Eligibility for the Executive
      Severance Benefit.  Employees who may be eligible for the
      Executive Severance Benefit (the "Executive Benefit") shall include
      Divisional Vice Presidents, Vice Presidents, Senior Vice Presidents,
      Executive Vice Presidents, Presidents, Chief Operating Officer, Chief
      Executive Officer, Chief Financial Officer, and any other key employees
      specifically identified by SMSC to receive the Executive Benefit, in
      writing.  SMSC retains the discretion to identify any employees
      for the Executive Benefit who are employed by SMSC or any Related Entities
      as a result of any acquisitions.  However, to the extent any
      executives are covered under any separately negotiated employment or
      severance agreements, that provide for any severance benefits, such
      individuals shall be excluded from participation in the Executive Benefit,
      and the Severance Plan, until such individuals are informed, in writing by
      the SMSC Chief Executive Officer, of their eligibility for participating
      in the Severance Plan. Individuals who are specifically excluded from the
      benefits as of the effective date of this amended and restated Severance
      Plan are identified in separate corporate records and
      agreements.

            

    

    

    Notwithstanding
any provisions to the contrary, in no event shall any benefits under the
Severance Plan or this Amendment be provided to any individuals who are offered
but refused to accept another suitable position within SMSC, or who are provided
the opportunity to be retained for any length of time by any successor employer,
joint venturer, etc., except with regard to any relocations addressed
below.

    

    
      	
              8.

            	
              Executive Severance
      Benefit.  Eligible Employees for the Executive Benefit
      shall receive an Executive Severance Benefit equal to three (3) months of
      Base Salary upon the occurrence of required “Relocation” as defined in
      Section 9(a) of this Plan or the occurrence of “Other Events” as defined
      in Section 9(c) of this Plan.  Eligible Employees for the
      Executive Benefit shall receive an Executive Severance Benefit equal to
      six (6) months of Base Salary upon the occurrence of “Change in Control”
      as defined in Section 9(b) of this
Plan.

            

    

    

    The above
Executive Benefit shall be provided in lieu of the Basic Severance Benefit
provided under the Severance Plan based upon an employee's Years of Continuous
Service with SMSC, and in no event shall be paid in addition to any other
severance benefits under the SMSC Severance Plan or any individually negotiated
employment or severance agreements.  Furthermore, under the Executive
Severance Benefit, no "Minimum Benefits" shall exist, such as the 2 week Minimum
Benefit provided under the Basic Severance Benefit.  However, in the
event the Basic Severance Benefit for any Eligible Employee under this Severance
Plan is greater than the Executive Benefit, an executive employee shall be
entitled to the greater of such benefits.

    

    
      	
              9.

            	
              Entitlement to Executive
      Severance Benefits.  The provisions of the Severance Plan
      shall be controlling with regard to the entitlement of any Executive
      Severance Benefits.  Therefore, no Eligible Employee who is
      terminated “for Cause”, including unsatisfactory job performance shall be
      entitled to receive any benefits, consistent with the provisions of this
      Severance Plan.  However, Eligible Employees shall be entitled
      to the Executive Benefit upon the occurrence of any of the following
      events:

            

    

     

    
      
         

      

      
        6

        
          

        

      

      
         

      

       

    

    
      	
               
      

            	
              a.

            	
              Relocation.  If
      an Eligible Employee is required to relocate to a new position that is
      more than 75 miles from the location of the employee's employment prior to
      such written required relocation, the employee may, within 90 days from
      receipt of such notification and prior to receipt of any relocation
      expenses by SMSC, inform SMSC, in writing, of the employee's desire to
      terminate employment with SMSC or any Related Entity, and to receive the
      Executive Benefit.

            
	 	 	 
	 	      
              b.

            	      
              Change in
      Control.  Upon the occurrence of a "Change in Control" of
      SMSC, including any affiliated or subsidiary companies, in which any
      eligible employees are employed, followed by a reduction in an employee’s
      Base Salary  by more than 15%, or any significant reduction
      (greater than 25%) in any targeted incentive compensation or bonuses,
      (i.e., as a percentage of Base Salary) as of the date of any Change in
      Control or an involuntary termination of the employee's employment, other
      than for "Cause" or retirement or Disability, an eligible employee shall
      be entitled to the Executive Severance Benefit in accordance with Section
      9(d) below.

            

    

     

    A "Change
in Control" of SMSC shall be deemed to have occurred upon the occurrence of one
of the following events:

    

    
      	
               
      

            	
              i.

            	
              The
      first to occur of any event described as either a change in ownership or
      effective control of the Company, or in the ownership of a substantial
      portion of the assets of the Company, as defined under Section 409A of the
      Code.

            

    

    

    Notwithstanding
the preceding paragraphs of this Section 9, in the event that: (i) the aggregate
payments of benefits to be made or afforded to any employee under this Amendment
(the "Termination Benefits") would be deemed to include an "excess parachute
payment" under Section 280G of the Code or any successor thereto; and (ii) if
such Termination Benefits were reduced to an amount (the "Non-Triggering
Amount"), the value of which is $1 less than an amount equal to the total amount
of any payments permissible under Section 280G of the Code or any successor
thereto; then the Termination Benefits to be paid to any employee shall be so
reduced so as to be a Non-Triggering Amount.  Any allocations of any
reductions required hereby among the Termination Benefits, in accordance with
the proceeding paragraphs of this Section 9, shall be determined by SMSC, within
its discretion.

    

    
      	 	      
              c.

            	      
              Other
      Events.  Eligible Employees shall also be entitled to the
      Severance Benefits identified in this Plan, under any corporate
      transactions or events as provided in the Severance Plan, including any
      involuntary termination of employment without
  cause.

            
	 	 	 
	
               
      

            	
              d.

            	
              Good Reason
      Termination.  Section 9 provides that an Eligible
      Employee who is an executive may terminate the Eligible Employee’s
      employment for “Good Reason”.

            

    

    

    
      
         

      

      
        7

        
          

        

      

      
         

      

       

    

    In order
to comply with the safe harbor “Good Reason” provisions contained in Final
Treasury Regulation Section 1.409A-1, the Eligible Employee’s Separation from
Service shall be “treated” as an involuntary termination if the following “safe
harbor” events occur to ensure that a Good Reason termination
exists:

    

    
      	
               
      

            	
              i.

            	
              The
      Eligible Employee must separate from service within a limited period of
      time, not to exceed 60 days following the reason for the Good Reason
      termination.

            

    

    

    
      	
               
      

            	
              ii.

            	
              The
      amount, time and form of payment upon a voluntary separation from service
      for Good Reason shall be identical to the amount, time and form of payment
      upon an involuntary Separation from
Service.

            

    

    

    
      	
               
      

            	
              iii.

            	
              The
      Eligible Employee must provide notice of the existence of the Good Reason
      condition within a period not to exceed 30 days of its initial
      existence.

            

    

    

    
      	
               
      

            	
              iv.

            	
              The
      Company shall be provided a period of 30 days during which it may remedy
      the condition entitling the Eligible Employee to terminate employment for
      Good Reason.

            

    

    

    
      	
              10.

            	
              Termination of Severance
      Benefits.  Notwithstanding any provisions to the
      contrary, in the event that an employee is receiving any severance
      benefits on a periodic basis, and if such an employee obtains new
      employment during the period in which severance benefits would otherwise
      be paid, all severance benefits shall immediately be terminated and no
      further severance benefits shall be due and
  payable.

            

    

    

    
      	
              11.

            	
              Payment of
      Benefits.  All benefits shall be paid in a single lump
      sum payment  within thirty (30) days after execution of a
      Release and the expiration of any revocation period as provided in Section
      15 of this Plan.  Payment shall commence no later than the March
      15 of the calendar year following the Plan Year in which a Separation from
      Service occurs, provided the Employee executes and returns a Release
      within the applicable time limitations prior to such
      date.  However, any severance benefits shall be reduced to the
      extent of any advance payment under any sales or commission program, for
      any excess expense reimbursements, and for any amounts owed to SMSC by the
      Employee (to the extent permitted under state
      law).  Furthermore, payment of any severance benefits is
      contingent upon the return of any SMSC property in the possession of the
      Employee, including personal computers (“PCs”), fax machines, scanners,
      copiers, building access passes and keys, cellular phones, SMSC credit
      cards, and any SMSC documents, correspondence, proprietary information and
      related corporate materials or
equipment.

            

    

    

    
      	
               
      

            	
              Notwithstanding
      any provisions to the contrary, if the period during which the Employee
      has discretion to consider and revoke the Release straddles two taxable
      years of the Employee, then the Company shall make the payments to which
      the Employee is entitled under the Plan in the second of such taxable
      years, regardless of the taxable year during which the Employee actually
      delivers the executed Release to the
Company.

            

    

     

    
      
         

      

      
        8

        
          

        

      

      
         

      

    

    
 

    
      	
               
      

            	
              a.

            	
              Section
      409A.  In the event that any termination would cause any
      payments to be paid beyond 21⁄2 months following the end of the Plan Year in
      which a termination occurs, a final payment equal to the balance owed
      shall be made prior to the 21⁄2 month period following the applicable
      Termination Date, in order to rely upon the “short-term deferral rule”
      under Section 409A to avoid any unintended form of deferred
      compensation.

            

    

    

    
      	
               
      

            	
              b.

            	
              Delay in Payment for Specified
      Employees.  To the extent that an Eligible Employee would
      receive any payment hereunder that would violate Section 409A, in no event
      shall any such payment be made within 6 months after the Eligible
      Employee’s Separation from Service.  Any and all payments that
      are required to be made within such 6 month period shall be delayed until
      the first day of the 6 months after a Separation from Service occurs and
      shall retroactively be paid to make the Employee whole for any lost
      benefits.  To the extent that an Eligible Employee is required
      to pay for the cost of any health or other benefits to keep them in full
      force and effect during the 6 month delay period for Eligible Employees,
      the Eligible Employee shall also be reimbursed for such out-of-pocket
      expenses as of the first day of the 6 months after a Separation from
      Service, retroactively, to make the Eligible Employee whole for any
      out-of-pocket costs.  To the extent any payments are delayed for
      any Eligible Employees, they shall receive interest on such delayed
      payments equal to the prime rate determined as of the first day of the
      month in which a Separation from Service shall occur, plus
    2%.

            

    

    

    
      	
               
      

            	
              c.

            	
              Exception for Specified
      Employees.  Notwithstanding any provision to the
      contrary, in accordance with the Final Regulations issued under Section
      409A of the Code, to the extent that the severance benefits to a Specified
      Employee do not exceed the lesser of the Specified Employee salary for the
      past 2 years or the Section 401(a)(17) limitations, such amount shall be
      paid within the 6 month period of time during which benefits may generally
      not be paid to Specified Employees.  To the extent benefits
      exceed such limitations (which is a maximum of $460,000 in 2008 and
      $490,000 in 2009), the balance of any payments shall be made following the
      expiration of the 6 month period following a Termination Date and a
      Separation of Service in a single lump sum payment on the first day of the
      6 months following a Separation from Service, with interest equal to prime
      plus 2% for the delay in making payments as required under the Severance
      Plan.

            

    

    

    
      	
              12.

            	
              Covenant Not to
      Compete.  Eligible Employees shall agree that during a
      period of 6 months after an employee’s Separation from Service, the
      employee shall not, directly or indirectly, through any other person,
      firm, corporation or other entity, be employed by or engaged as a
      consultant or independent contractor to any business entity engaged in a
      business that is a competitor of SMSC, or any related entities, anywhere
      in the United States.  For purposes of this Plan, a business
      entity shall be considered to be a competitor with SMSC, and all related
      entities, if it is engaged in any of the following activities: the
      marketing, sale, design, development, manufacture or assembly of any
      integrated circuit or related product competing with an integrated circuit
      or related product then offered by SMSC without written consent which will
      not be unreasonably withheld if it is a non-competitive
      situation.

            

    

    

    Eligible
employees shall acknowledge in the Release required under Section 15 that the
scope of this covenant not to compete is reasonable.  In the event
that any aspect of this covenant is deemed to be unreasonable by a court, an
Eligible Employee shall submit to the reduction of either the time or territory
to such an area or period as the court will deem reasonable.  In the
event an Eligible Employee violates this covenant, then the time limitation
shall be extended for a period of time equal to the pendency of such
proceedings, including appeals.

     

    
      
         

      

      
        9

        
          

        

      

      
         

      

    

    
 

    
      	
              13.

            	
              Nonsolicitation of
      Clients.  For a period of 1 year after the Eligible
      Employee’s Separation from Service, the Employee shall not, directly or
      indirectly, through any other person, firm, corporation or other entity,
      solicit any customers or clients of SMSC, in order to receive the
      severance benefits.

            

    

    

    Eligible
Employees shall acknowledge that the scope of this nonsolicitation provision is
reasonable. In the event that any aspect of this provision is deemed to be
unreasonable by a court, an Eligible Employee shall submit to any reductions as
the court shall deem reasonable.  In the event the Eligible Employee
violates this provision, then the time limitations shall be extended for a
period of time equal to the pendency of such proceedings, including
appeals.

    

    
      	
              14.

            	
              No Solicitation of
      Employees.  During the course of an Eligible Employee's
      employment with the Company, the Employee shall come into contact and
      became familiar with the Company's employees, their knowledge, skills,
      abilities, salaries, commissions, draws, benefits, and/or other matters
      with respect to such employees, all of which information is not generally
      known to the public, but has been developed, acquired or compiled by the
      Company at its great effort and expense.  Eligible Employee
      shall agree that any solicitation, luring away or hiring of such employees
      of the Company shall be highly detrimental to the business of the Company
      and may cause serious loss of business and great and irreparable
      harm.  Consequently, Eligible Employees shall agree that for a
      period of 1 year after the Eligible Employee’s Separation from Service,
      the Eligible Employee shall not, directly or indirectly, whether on behalf
      of the Eligible Employee or others, solicit, lure or hire away any
      employees of the Company or assist or aid in any such
      activity.

            

    

    

    
      	
              15.

            	
              Conditions for
      Payment.  As a condition precedent to the payment of any
      Basic or Executive Severance Benefits, inclusion of the 2 week "Minimum Payment"
      and any COBRA coverage, SMSC shall require an Eligible Employee to sign a
      Severance Agreement and General Release (the "Release")
      within  21 or 45 days of the date of
      the Eligible Employee’s separation from service (the “Release Period”), as
      provided in Section 18.  The Release shall require the Eligible
      Employee to agree to release SMSC, any Related Companies, and the
      employees and directors of any and all Related Companies, from all claims
      or demands the Eligible Employee may have based on employment with SMSC,
      including claims of which the Eligible Employee is unaware and claims
      which are not specifically released and identified below.  These
      claims include, but are not limited to, claims arising under the
      Constitution of the United States, a release of any rights or claims the
      Employee may have under the Age Discrimination in Employment Act of 1967
      as amended, 29 U.S.C. 621 et seq., which prohibits age discrimination in
      employment; Title VII of the Civil Right Act of 1964, as amended, 42
      U.S.C. 2000(e) et seq., which prohibits discrimination in employment based
      on race, color, national origin, religion or sex; the Civil Rights Act of
      1966, 42 U.S.C. 1981 et seq.; the Equal Pay Act, which prohibits paying
      men and women unequal pay for equal work; or any other federal, state or
      local laws or regulations prohibiting employment discrimination; Employee
      Retirement Income Security Act, 29 U.S.C. 1001 et seq.; Executive Orders
      11246 and 11141; the Constitution of the State of New York or any other
      states in which the Eligible Employee resides or works; any New York or
      other state laws against discrimination; any express or implied contracts
      with SMSC or any Related Company; any federal or state common law and any
      federal, state or local statutes, ordinances and
      regulations.  The Release may include other provisions not
      stated herein.  Any payment that otherwise would be made to the
      Eligible Employee prior to his delivery of such executed release shall be
      paid to the Eligible Employee on the first business day following the
      conclusion of the Release Period.

            

    

     

    
      
         

      

      
        10

        
          

        

      

      
         

      

    

    

    The
Release shall not include, however, a release of (a) the Eligible Employee's
right, if any to any other pension, health or similar benefits under SMSC's
standard policy and procedures programs; or (b) the Eligible Employee's right to
individual conversion privileges under any medical, dental, long-term
disability, life insurance or any other welfare programs.

    

    
      	
              16.

            	
              Corporate Acquisitions and
      Transactions.  The intent of the Plan is to compensate
      Eligible Employees with long-term employment with SMSC, if the need to
      terminate an Eligible Employee or to eliminate a position
      occurs.  In the event that an Eligible Employee working for SMSC
      or any Related Company is subsequently offered employment by any related
      or unrelated entities as a result of any corporate transaction or
      reorganization, no severance benefits shall be payable whether or not the
      individual continues to work for the buyer or any other successor entity
      in any corporate acquisition or other transaction, whether or not such
      offers or positions are at comparable wages or job
  levels.

            

    

    

    
      	
              17.

            	
              ERISA
      Compliance.  Notwithstanding any provisions to the
      contrary, in no event shall any severance benefit exceed 2 times an
      Eligible Employee's annual compensation paid during the Plan Year
      immediately preceding the termination of the Eligible Employee's services.
      Furthermore, in no event shall severance benefits be paid for a period of
      more than 24 months after an Eligible Employee's termination of
      employment.  These rules are intended to comply with Department
      of Labor Regulation Section
2510.3-2.

            

    

    

    
      	
              18.

            	
              Older Workers Benefits
      Protection Act. With regard to each individual Severance Agreement
      and General Release required under Section 15, SMSC shall give
      consideration to requiring either a 21 day review period for individual
      and independent terminations, or use of a 45 day review period for
      significant reductions in force.  Separate Severance Agreements
      and General Release forms may be used with different employees in order to
      effectuate the intent of the Severance Plan and/or to provide additional
      severance benefits in order to accommodate the unique circumstances of any
      individual terminations.

            

    

    

    
      	
              19.

            	
              WARN
      Notices.  Prior to the effectuating any significant
      reduction in force, SMSC shall give consideration as to whether or not any
      notifications are required to employees and/or local officials under the
      Workers' Adjustment and Retraining Notification Act of 1990
      ("WARN").  Furthermore, prior to effectuating any reduction in
      force that may require issuance of WARN Notices, SMSC may terminate the
      Severance Plan in order to avoid the duplication of providing either 60
      days of notice and/or 60 days of pay, in addition to any severance
      benefits that may be required under the terms of the SMSC Severance
      Plan.

            

    

     

    
      
         

      

      
        11

        
          

        

      

      
         

      

    

    
 

    
      	
              20.

            	
              Violation of Section
      409A.  All Eligible Employees shall be informed that in
      the event of any violation of Section 409A of the Code, severance and
      other payments may be subject to income taxes, a 20% excise tax, and
      underpayment of interest penalties.  However, the Plan and any
      Release are intended to comply with Section 409A and shall be interpreted
      consistent with the provisions of Section
409A.

            

    

    

    
      	
              21.

            	
              Plan
      Unfunded.  The Plan shall be unfunded for purposes of the
      Code and Title I of ERISA, and no assets shall be set aside for the
      payment of benefits under the Plan.  All participants are
      general creditors of SMSC for the payment of any
  benefits.

            

    

    

    
      	
              22.

            	
              Amendment and
      Termination.  The Plan may be amended, modified, or
      terminated at any time, by action of the Compensation Committee of the
      Board of Directors of the Company.

            

    

    

    
      	
              23.

            	
              Nonassignability.  No
      benefits provided under the Plan may be assigned or transferred, and no
      benefits are subject to attachment.  However, in the event of
      death of an Employee receiving severance benefits, the benefits shall
      continue to be paid to the Employee’s  Spouse, or if no Spouse
      exists, the Employee’s estate as income in respect of the
      decedent.

            

    

    

    
      	
              24.

            	
              Plan
      Interpretation.  SMSC shall have complete discretion to
      interpret all provisions of the Plan and to establish reasonable rules and
      procedures to facilitate the administration of the
  Plan.

            

    

    

    
      	
              25.

            	
              Claims and Review
      Procedures.  SMSC hereby adopts the following claims
      procedures to review all claims for benefits under the Plan, in accordance
      with Department of Labor Regulation 29 CFR
  §2560.503-1:

            

    

    

    
      	
               
      

            	
              a.

            	
              Benefit
      Claims.  Claims for benefits shall be made in writing to
      the Employer, or, in the event the Employer contracts with a person or
      corporation to process claims for any benefits, claims for such benefits
      shall be forwarded to such person or corporation as designated by the
      Employer.  Whoever is designated to process claims for benefits,
      whether the Employer, or any other person, shall be referred to as the
      "Claim Coordinator" in this Claims
Procedure.

            

    

    

    The
"Claim Coordinator" shall make all determinations as to the right of any
claimant to a benefit under the Plan.  If the "Claim Coordinator"
denies in whole or in part any claim for a benefit under the Plan the "Claim
Coordinator" shall furnish the claimant with notice of the decision not later
than 90 days after receipt of the claim by the "Claim Coordinator", unless
special circumstances require an extension of time for processing the
claim.  If such an extension of time for processing is required,
written notice of the extension shall be furnished to the claimant prior to the
termination of the initial 90-day period.  In no event shall such
extension exceed the period of 90 days from the end of such initial
period.  The extension notice shall indicate the special circumstances
requiring an extension of time and the date by which the processor expects to
render the final decision.  If no notice of a decision or extension is
provided, the claimant shall assume the claim has been denied.

     

    
      
         

      

      
        12

        
          

        

      

      
         

      

    

    
 

    The
written notice which the processor shall provide to every claimant who is denied
a claim for benefits shall be set forth in a manner calculated to be understood
by the claimant:

    

    
      	
              i.  
        

            	
              The
      specific reason or reasons for the
denial;

            

    

    

    
      	
              ii.  
        

            	
              Specific
      reference to pertinent Plan provisions on which the denial is
      based;

            

    

    

    
      	
              iii.  
        

            	
              A
      description of any additional material or information necessary for the
      claimant to perfect the claim and an explanation of why such material or
      information is necessary; and

            

    

    

    
      	
              iv.  
        

            	
              Appropriate
      information as to the steps to be taken if the claimant wishes to submit
      his claim for review.

            

    

    

    A
claimant or his authorized representative may request the Appeals Committee to
review the denial of a claim by the "Claim Coordinator".  The Appeals
Committee shall be established by the Employer as the "Named Appeals Fiduciary",
as required under ERISA for reviewing claims.  Such request shall be
made in writing and shall be presented to the Appeals Committee not more than 60
days after receipt by the claimant of written notification of
the denial of a claim.  The claimant shall have the right to review
pertinent documents and to submit issues and comments in writing. The Appeals
Committee shall make its decision on review not later than 60 days after receipt
by the Appeals Committee of the claimant's request for review, unless special
circumstances require an extension of time, in which case a decision shall be
rendered as soon as possible by not later than 120 days after receipt by the
Appeals Committee of the request for review.  If such an extension of
time for review is required because of special circumstances, written notice of
the extension shall be furnished to the claimant prior to the
commencement of the extension.  The decision of review shall be in
writing and shall include specific reasons for the decision, written in a manner
calculated to be understood by the claimant, and specific references to the
pertinent Plan provisions on which the decision is based.

    

    
      	
               
      

            	
              b.

            	
              Compliance with
      Regulations.  It is intended that the claims procedure of
      this Plan is administered in accordance with the claims procedure
      regulations of the Department of Labor set forth in 29 CFR Section
      2560.503-1.  Accordingly, the above claims procedures shall be
      required to the extent necessary to comply with any future laws,
      regulations or announcements.

            

    

     

    
      
         

      

      
        13

        
          

        

      

      
         

      

    

    
 

    
      	
              26.

            	
              Withholding of
      Taxes.  SMSC shall deduct from all severance payments
      made to any Eligible Employee all applicable federal, state or local taxes
      required by law to be withheld from such
  payments.

            

    

    

    
      	
              27.

            	
              Retirement and Other
      Benefits.  Severance benefits shall not be treated as
      "Compensation" under the terms of any qualified retirement
      plans.  Nor shall the payment of any severance benefits be
      treated as extending any individual's employment, for any employee benefit
      or employment purposes.

            

    

    

    
      	
              28.

            	
              Other
      Covenants.  Notwithstanding any provisions to the
      contrary, to the extent that any longer periods are used for any covenants
      not to compete or solicit customers or employers, within any other
      employment agreements, severance agreements, or offer letters, the longer
      period shall be controlling for purposes of any Eligible
      Employee.

            

    

    

    
      	
              29.

            	
              Employment and Severance
      Agreements, and Offer Letters.  Sections 4 and 7 of the
      Severance Plan provides that to the extent an Eligible Employee is
      entitled to any severance benefits under any separately negotiated
      agreements, no benefits are payable under the Severance
      Plan.  Notwithstanding any provisions to the contrary, if any
      Eligible Employee is entitled to any severance benefits under any
      separately negotiated employment or severance agreements, or offer
      letters, no benefits shall be payable under the Severance Plan unless
      provided otherwise in any such separate agreement or
      letter.  However, in the event that any separate Agreement or
      letter provides for any additional benefits, including benefits provided
      under the Severance Plan, in no event shall any Eligible Employee receive
      benefits which are determined to be duplicative, within the discretion of
      the Committee.  In the event of any conflict in benefits, the
      Committee, within its discretion, shall provide an Eligible Employee with
      the greater of the benefits provided under the Severance Plan or any
      separately negotiated agreement or
letter.

            

    

    

    
      	
              30.

            	
              Form of
      Communication.  Any election, claims, notice or other
      communication required or permitted to be made by or to an Eligible
      Employee under this Plan shall be made in writing and in such form as
      shall be prescribed by SMSC.  Such communication shall be
      effective upon receipt by SMSC, if hand delivered or sent by first class
      mail, postage pre-paid, return receipt requested to the Vice President of
      Human Resources, Standard Microsystems Corporation, 80 Arkay Drive,
      Hauppauge, New York 11788.

            

    

    

    
      	
              31.

            	
              Plan
      Number.  The Plan Number assigned to this Plan for
      purposes of Internal Revenue Form 5500 filings is
  501.

            

    

    

    
      	
              32.

            	
              Severability.  The
      invalidity of any portion of this Plan shall not invalidate the remainder,
      and the remainder of the Plan shall continue in full force and
      effect.

            

    

    

    
      	
              33.

            	
              No Future Application for
      Employment.  An Eligible Employee agrees not to apply for
      any new positions with SMSC or any Related Entities following any
      Termination Date if so provided in the Eligible Employee’s Severance
      Agreement, within the discretion of
SMSC.

            

    

    

    
      	
              34.

            	
              No Release of Future
      Claims.  This Agreement does not waive or release any
      rights or claims that the Employee may have under the Age Discrimination
      in Employment Act which arises after the effective date of the Agreement,
      if applicable.

            

    

     

    
      
         

      

      
        14

        
          

        

      

      
         

      

    

    
 

    
      	
              35.

            	
              Reference.  Reference
      inquiries from prospective employers shall be handled by only verifying
      the Employee's dates of employment, last position held and level of
      compensation.

            

    

    

    
      	
              36.

            	
              Captions.  The
      captions at the head of a paragraph of this Plan are designed for
      convenience of reference only and are not to be resorted to for the
      purpose of interpreting any provision of this
  Plan.

            

    

    

    
      	
              37.

            	
              Gender and
      Number.  The masculine gender, where appear­ing
      herein, shall be deemed to include the feminine gender, and the singular
      shall be deemed to include the plural, unless the context clearly
      indicates to the contrary.

            

    

    

    
      	
              38.

            	
              Governing Laws. The Plan
      shall be governed and construed in accordance with the laws of the State
      of New York, except to the extent preempted by
  ERISA.

            

    

    

    

    

    

    
      	 
      	
              STANDARD
      MICROSYSTEMS CORPORATION

            
	 
      	 
      
	 
      	 
      
	
              1/16/09

            	
              /s/
      Christine King

            
	
              Date

            	
              Christine
      King

            
	 
      	
              President
      and Chief Executive Officer

            

    

    

    

    
      
         

      

      
        15

        
          

        

      

      
         

      

    

    

    IMPORTANT
INFORMATION.

    

    
      	w	
              Plan
      Year:

            	
              January 1
      to December 31

            
	 	  	  
	w	
              Type of
      Plan:

            	
              Severance
      Plan

            
	 	  	  
	w	
              Plan
      No.:

            	
              501

            
	 	  	  
	w	
              Plan
      Sponsor:

            	
              Standard
      Microsystems Corporation

            
	 	  	
              EIN
      11-2234952

            
	 	  	  
	w	
              Plan
      Administrator:

            	
              Standard
      Microsystems Corporation

            
	 	  	  
	w	
              Funding:

            	
              Employer
      self funded

            
	 	  	  
	w	
              Agent for
      Service

            	  
	 	
              of Legal
      Process:

            	
              Standard
      Microsystems Corporation

            
	 	  	
              80 Arkay
      Drive

            
	 	  	
              Hauppauge, New York
      11788

            

    

     

     

    
      
         

      

      
        16SECURITIES
PURCHASE AGREEMENT

     

    
      

    

    THIS
SECURITIES PURCHASE AGREEMENT is entered into as of April 28, 2009 (this
“Agreement”), by and between Trinad Capital Master Fund, Ltd. (the “Seller”) and
George Elliott (the “Buyer”).  Each party to this Agreement is
referred to herein as a “Party,” and they are all referred to collectively as
“Parties.”

     

    W I T N E
S S E T H:

     

    WHEREAS,
the Seller is the owner of 3,978,000 shares (the “Shares”) of the common stock,
par value $0.0001 per share (the “Common Stock”), of Noble Medical Technologies,
Inc., a Delaware corporation (the “Company”), which, constitutes 95% of the
total outstanding shares of the Common Stock of the Company on a fully-diluted
basis immediately prior to the Closing (as defined below); and

     

    WHEREAS,
the Seller desires to sell and the Buyer desires to purchase from the Seller the
Shares on the terms and conditions set forth herein.

     

    NOW,
THEREFORE, in consideration of the premises and of the mutual representations,
warranties and agreements set forth herein, the Parties hereto agree as
follows:

     

     

    ARTICLE
I

     

    SALE AND
PURCHASE OF SHARES

     

    1.1           Incorporation of
Recitals.  The provisions and recitals set forth above are
hereby referred to and incorporated herein and made a part of this Agreement by
reference.

     

    1.2           Sale and Purchase of
Shares.  Subject to the terms and conditions of this Agreement,
at the Closing, the Seller hereby agrees to sell to Buyer and Buyer agrees to
purchase from the Seller the Shares in exchange for Buyer’s one share of Series
B Preferred Stock of GoldSail Shipping Corporation (the “Purchase
Price”).

     

    1.3           Closing.  Subject
to the terms and conditions of this Agreement, the closing of the transactions
contemplated by this Agreement (the “Closing”) shall take place on the date
hereof (the “Closing Date”).  On the Closing Date, the Seller shall
deliver to the Buyer: (a) stock certificate(s) evidencing the Shares in
negotiable form, duly endorsed in blank, or with stock transfer powers attached
thereto (or irrevocable instructions to the Company’s transfer agent authorizing
the transfer of the Shares to Buyer) (the “Share Certificates”); (b)
resignations of the officers and directors of the Company as designated by Buyer
and their written appointment of one or more persons designated by Buyer as
successor officers and directors; and (c) all corporate documents (minutes,
resolutions, agreements and contracts), bank accounts, check books, common
seals, memorandum and articles and amendments, etc. of the
Company.  On the Closing Date, the Buyer shall deliver to Seller the
Purchase Price in exchange for the Shares.

     

    1.4           Payments at
Closing.  On or before the Closing Date, the Company shall pay
and discharge all outstanding liabilities (collectively, “Company
Liabilities”).  Giving effect to these payments, it is the Parties’
intent that the Company shall, on the Closing Date and as of the Closing, have
no liabilities and no assets.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    ARTICLE
II

     

    REPRESENTATIONS
AND WARRANTIES OF THE SELLER

     

    Except as
set forth under the corresponding section of the disclosure schedules (the
“Disclosure Schedules”) attached hereto as Exhibit A, which
Disclosure Schedules shall be deemed a part hereof, the Seller hereby represents
and warrants to Buyer that now and as of the Closing:

     

    2.1           Due Organization and
Qualification; Subsidiaries; Due Authorization.

     

    (a)           The
Company is a corporation duly incorporated, validly existing and in good
standing under the laws of its jurisdiction of formation, with full corporate
power and authority to own, lease and operate its business and properties and to
carry on its business in the places and in the manner as presently
conducted.  The Company is duly qualified and in good standing as a
foreign corporation in each jurisdiction in which the properties owned, leased
or operated, or the business conducted, by it requires such qualification except
for any failure to qualify, which when taken together with all other failures to
qualify, is not likely to have a material adverse effect on the business of the
Company.

     

    (b)           The
Company does not have, and has never had, any subsidiaries and does not own,
directly or indirectly, any capital stock, equity or interest in any
corporation, firm, partnership, joint venture or other entity.

     

    (c)           Seller
is the record and beneficial owner of the Shares and has sole power and
authority over the disposition of the Shares.  The Shares are free and
clear of any liens, claims, encumbrances, and charges.  The Shares
have not been sold, conveyed, encumbered, hypothecated or otherwise transferred
by Seller except pursuant to this Agreement.  Seller has the legal
right to enter into and to consummate the transactions contemplated hereby and
otherwise to carry out his obligations hereunder.  This Agreement
constitutes the valid and binding obligation of Seller.  The
execution, delivery and performance by the Seller of this Agreement does not
violate any contractual restriction contained in any agreement which binds or
affects or purports to bind or affect the Seller.  Seller is not a
party to any agreement, written or oral, creating rights in respect of any of
such Shares in any third party or relating to the voting of its
Shares.  Seller is not a party to any outstanding or authorized
options, warrants, rights, calls, commitments, conversion rights, rights of
exchange or other agreements of any character, contingent or otherwise,
providing for the purchase, issuance or sale of any of the Shares, and there are
no restrictions of any kind on the transfer of any of the Shares other than (a)
restrictions on transfer imposed by the Securities Act of 1933, as amended (the
“Securities Act”) and (b) restrictions on transfer imposed by applicable state
securities or “blue sky” laws.  Seller acknowledges that Seller has
been advised that Buyer or others may take various actions including actions
which result in the Shares greatly increasing in value and that by executing
this agreement, Seller expressly waives any and all right to participate in any
way in any such increase in value of the shares of the Company.  Those
creditors listed in the Disclosure Schedules are the only individuals or
entities with any claims against the Company.  Other than as set forth
on the Disclosure Schedules, the Company does not have any obligations or
liabilities of any nature (matured or unmatured, fixed or
contingent).

     

    2.2           No Conflicts or
Defaults.  The execution and delivery of this Agreement by the
Seller and the consummation of the transactions contemplated hereby do not and
shall not (a) contravene the Certificate of Incorporation or By-laws of the
Company or (b) with or without the giving of notice or the passage of
time  (i) violate, conflict with, or result in a breach of, or a
default or loss of rights under, any material covenant, agreement, mortgage,
indenture, lease, instrument, commitment, arrangement, permit or license to
which the Seller or the Company is a party or by which the Seller or the Company
is bound (each a “Contract”), or any judgment, order or decree, or any federal,
state or other statute, law, ordinance, rule or regulation to which the Seller
or the Company is subject, (ii) result in the creation of, or give any party the
right to create, any mortgage, security interest, lien, charge, easement, lease,
sublease, covenant, option, claim, restriction or encumbrance or any other right
or adverse interest (“Liens”) upon any of the properties or assets of the
Company, (iii) terminate or give any party the right to terminate, amend,
abandon or refuse to perform, any Contract to which the Seller or the Company is
a party or by which the Company’s assets are bound, or (iv) accelerate or
modify, or give any party the right to accelerate or modify, the time within
which, or the terms under which, the Seller or the Company is to perform any
duties or obligations or receive any rights or benefits under any material
agreement, arrangement or commitment to which it is a party.

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    2.3           Capitalization.  On
the Closing Date, the authorized capital stock of the Company consists of
21,000,000 shares of Common Stock, par value $0.0001 per share, of which
4,188,000 shares are, as of the date hereof, issued and outstanding (“Company
Shares”) and 1,000,000 shares of preferred stock, par value $0.0001 per share,
of which no shares are, as of the date hereof, issued and
outstanding.  All of the Company Shares are duly authorized, validly
issued, fully paid and nonassessable, and have not been issued in violation of
any purchase option, call option, right of first refusal, preemptive right,
subscription right, or any similar right of stockholders.  The Company
Shares are not, and the Shares are not and will not be as of the Closing,
subject to any preemptive or subscription right.  There is no
outstanding voting trust agreement or other Contract, agreement, arrangement,
option, warrant, call, commitment or other right of any character obligating or
entitling the Company to issue, sell, redeem or repurchase any of its
securities, and there is no outstanding security of any kind convertible into or
exchangeable for the Common Stock of the Company, nor has the Company, or any of
its agents orally agreed to issue any of the foregoing.  There are no
declared or accrued unpaid dividends with respect to any shares of the Company’s
Common Stock.  There are no agreements, written or oral, between the
Company and any of its stockholders or among any stockholders relating to the
acquisition (including without limitation rights of first refusal or preemptive
rights), or disposition, or registration under the Securities Act or voting of
the capital stock of the Company. There are no outstanding shares of Common
Stock that are subject to vesting. The Company has no capital stock other than
the Common Stock authorized, issued or outstanding.

     

    2.4           Financial
Statements.

     

    (a)           SEC Documents. The
Seller hereby makes reference to the following documents filed by the Company
with the United States Securities and Exchange Commission (the “SEC”), as posted
on the SEC’s website, www.sec.gov:  (collectively, the “SEC
Documents”): (a) Registration Statement Under the Securities Act of 1933 on Form
S-1 as filed on April 28, 2008 and all amendments thereto; (b) Quarterly Reports
on Form 10-Q for the periods ended March 31, 2008, June 30, 2008 and September
30, 2008 and all amendments thereto; (c) Annual Report on Form 10-K for the
period ended December 31, 2008; and (d) Current Report on Form 8-K as filed on
February 12, 2009.  The SEC Documents constitute all of the documents
and reports that the Company was required to file with the SEC pursuant to the
Securities Act of 1933, as amended (“Securities Act”), and the Securities
Exchange Act of 1934, as amended (“Exchange Act”), and the rules and regulations
promulgated thereunder by the SEC.  The financial statements included
in the SEC Documents include a copy of the balance sheet of the Company at
December 31, 2008 and at December 31, 2007, and the related statements of
operations and stockholders’ cash flows for the fiscal year ended December 31,
2008 and the period from July 25, 2007 (inception) through December 31, 2007,
including the notes thereto, as audited by Li & Company, PC, certified,
independent accountants, and the balance sheet of the Company at March 31, 2008,
June 30, 2008 and September 30, 2008 and the related statements of operations
and stockholders’ cash flows for the three-, six- and nine-month periods,
respectively, then ended prepared by the Company’s management (all such
statements being referred to collectively as the “Company Existing Financial
Statements”).  All the Company Existing Financial Statements, together
with the notes thereto, have been prepared in accordance with U.S. generally
accepted accounting principles applied on a basis consistent throughout all
periods presented.  These Company Existing Financial Statements
present fairly the financial position of the Company as of the dates and for the
periods indicated.  The books of account and other financial
records of the Company have been maintained in accordance with U.S.
GAAP.

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    (b)           Since
the date of the latest Company Existing Financial Statements (the “Most Recent
Date”), there has been no material adverse change in the condition, financial or
otherwise, net worth, prospects or results of operations of the
Company.  Without limiting the foregoing, since the Most Recent
Date:

     

    (i)        
    the Company has not sold, leased, transferred or
assigned any of its assets, tangible or intangible, other than in the ordinary
course of business;

    

    (ii)      
     the Company has not entered into any agreement,
Contract, commitment, lease or license (or series of related agreements,
Contracts, commitments, leases and licenses);

    

    (iii)           no
party (including the Company) has accelerated, terminated, modified or canceled
any agreement, Contract, lease or license (or series of related agreements,
Contracts, leases and licenses) to which the Company is a party or by which the
Company or its assets are bound;

    

    (iv)           the
Company has not made any capital expenditure (or series of related capital
expenditures) of whatever nature;

    

    (v)           the
Company has not made any capital investments in, any loans to, or any
acquisitions of the securities or assets of any other person (or a series of
related capital investments, loans and acquisitions);

    (vi)           declared
or paid any dividends or made any other distribution to its stockholders whether
or not upon or in respect of any shares of its capital stock;

    

    (vii)          redeemed
or otherwise acquired any shares of its capital stock (except upon the exercise
of outstanding options) or any option, warrant or right relating
thereto;

    

    (viii)         the
Company has not issued any notes, bonds or other debt securities, or created,
incurred, assumed or guaranteed any liabilities, obligations or indebtedness for
borrowed money or capitalized lease obligation;

    

    (ix)           the
Company has not canceled, compromised, waived or released any right or claim (or
series of related rights and claims) or material indebtedness;

    

    (x)         
  the Company has not made any loans to, or entered into any other
transactions with, any of its directors, officers, or employees;
and

    

    (xi)           the
Company has not committed to do any of the foregoing.

    

    2.5           Further Financial
Matters.  The Company does not have any (a) assets of any kind
or (b) liabilities or obligations, whether secured or unsecured, accrued,
determined, absolute or contingent, asserted or unasserted or otherwise, which
are required to be reflected or reserved in a balance sheet or the notes thereto
under generally accepted accounting principles, and which are not reflected in
the Company Existing Financial Statements.

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

    2.6           Taxes.  The
Company has filed all United States federal, state, county, local and foreign,
national, provincial and local returns and reports which were required to be
filed on or prior to the Closing Date hereof in respect of all income,
withholding, franchise, payroll, excise, property, sales, use, value-added or
other taxes or levies, imposts, duties, license and registration fees, charges,
assessments or withholdings of any nature whatsoever (together, “Taxes”), and
has paid all Taxes (and any related penalties, fines and interest) which have
become due pursuant to such returns or reports or pursuant to any assessment
which has become payable, or, to the extent its liability for any Taxes (and any
related penalties, fines and interest) has not been fully discharged, the same
have been properly reflected as a liability on the books and records of the
Company and adequate reserves therefor have been established.  All
such returns and reports filed on or prior to the date hereof have been properly
prepared and are true, correct (and to the extent such returns reflect judgments
made by the Company, as the case may be, such judgments were reasonable under
the circumstances) and complete in all material respects.  The amount
shown on the Company’s most recent balance sheet in the Company Existing
Financial Statements as provision for taxes is sufficient in all material
respects to pay all accrued and unpaid federal, state, local and foreign taxes
for the period then ended and all prior periods.  No tax return or tax
return liability of the Company has been audited or, is presently under
audit.  The Company has not given or been requested to give waivers of
any statute of limitations relating to the payment of any Taxes (or any related
penalties, fines and interest).  There are no claims pending or, to
the knowledge of the Seller, threatened, against the Company for past due
Taxes.  All payments for withholding taxes, unemployment insurance and
other amounts required to be paid for periods prior to the date hereof to any
governmental authority in respect of employment obligations of the Company,
including, without limitation, amounts payable pursuant to the Federal Insurance
Contributions Act, have been paid or shall be paid prior to the Closing and have
been duly provided for on the books and records of the Company and in the
Company Existing Financial Statements.  All such amounts and penalties
are set forth in the Company’s most recent balance sheet in the Company Existing
Financial Statements.

     

    2.7           Indebtedness; Contracts; No
Defaults; Liabilities.

     

    (a)           The
Company has no instruments, agreements, indentures, mortgages, guarantees,
notes, commitments, accommodations, letters of credit or other arrangements or
understandings, whether written or oral, to which the Company is a
party.

     

    (b)           Neither
the Company, nor, to the Seller’s knowledge, any other person or entity, is in
breach of, or in default under any Contract, agreement, arrangement, commitment
or plan to which the Company is a party, and no event or action has occurred, is
pending or is threatened, which, after the giving of notice, passage of time or
otherwise, would constitute or result in such a breach or default by the Company
or, to the knowledge of the Seller, any other person or entity.  The
Company has not received any notice of default under any Contract, agreement,
arrangement, commitment or plan to which it is a party, which default has
not been cured to the satisfaction of, or duly waived by, the party
claiming such default on or before the date hereof.

     

    (c)           Other
than the Company Liabilities set forth on Schedule C, which
shall be paid off immediately upon the closing, the Company has no
liabilities.

    

    2.8           Real
Property.  The Company does not own or lease any real
property.

     

    2.9           Compliance.

     

    (a)           The
Company is not conducting its respective business or affairs in violation of any
applicable federal, state or local law, ordinance, rule, regulation, court or
administrative order, decree or process, or any requirement of insurance
carriers.  The Company has not received any notice of violation or
claimed violation of any such law, ordinance, rule, regulation, order, decree,
process or requirement.

    

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

    
      

    

    (b)           The
Company is in compliance with all applicable federal, state, local and foreign
laws, rules and regulations.  There are no claims, notices, actions,
suits, hearings, investigations, inquiries or proceedings pending or, to the
knowledge of the Sellers, threatened against the Company, and there are no past
or present conditions that the Company has reason to believe are likely to give
rise to any liability or other obligations of the Company under any
circumstances.

     

    2.10          Permits and
Licenses.  The Company has all certificates of occupancy,
rights, permits, certificates, licenses, franchises, approvals and other
authorizations as are reasonably necessary to conduct its business and to own,
lease, use, operate and occupy its assets, at the places and in the manner now
conducted and operated.  The Company has not received any written or
oral notice or claim pertaining to the failure to obtain any material permit,
certificate, license, approval or other authorization required by any federal,
state or local agency or other regulatory body, the failure of which to obtain
would materially and adversely affect its business.

     

    2.11          Litigation.

     

    (a)           There
is no claim, dispute, action, suit, inquiry, proceeding or investigation pending
or, to the knowledge of the Seller, threatened, against or affecting the
business of the Company, or challenging the validity or propriety of the
transactions contemplated by this Agreement, at law or in equity or admiralty or
before any federal, state, local, foreign or other governmental authority,
board, agency, commission or instrumentality, nor has any such claim,
dispute, action, suit, proceeding or investigation been pending or threatened
during the 12 month period preceding the date hereof;

     

    (b)           There
is no outstanding judgment, order, writ, ruling, injunction, stipulation or
decree of any court, arbitrator or federal, state, local, foreign or other
governmental authority, board, agency, commission or instrumentality, against or
affecting the business of the Company; and

     

    (c)           The
Company has not received any written or verbal inquiry from any federal, state,
local, foreign or other governmental authority, board, agency, commission or
instrumentality concerning the possible violation of any law, rule or regulation
or any matter disclosed in respect of its business.

     

    2.12          Insurance.  The
Company does not currently maintain any form of insurance.

     

    2.13          Certificate of Incorporation
and By-laws; Minute Books.  Copies of the Company’s Certificate
of Incorporation and its By-laws have been provided to the
Buyer.  Such copies of the Certificate of Incorporation and By-laws
(or similar governing documents) of the Company, and all amendments to
each  as provided are true, correct and complete.  The
minute books of the Company as forwarded to the Buyer contain true, correct and
complete records of all meetings and consents in lieu of meetings of its Board
of Directors (and any committees thereof), or similar governing bodies, since
the time of its organization.  The stock books of the Company as
forwarded to the Buyer are true, correct and complete.

     

    2.14          Employee Benefit
Plans.  The Company does not maintain, nor has the Company
maintained in the past, any employee benefit plans (“as defined in Section 3(3)
of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”)),
or any plans, programs, policies, practices, arrangements or contracts (whether
group or individual) providing for payments, benefits or reimbursements to
employees, officers or consultants of the Company, former employees, officers or
consultants of the Company, their beneficiaries and dependents under which such
employees, officers or consultants, former employees, officers or consultants,
their beneficiaries and dependents are covered through an employment
relationship with the Company, any entity required to be aggregated in a
controlled group or affiliated service group with the Company for purposes of
ERISA or the Internal Revenue Code of 1986 (the “Code”) (including, without
limitation, under Section 414(b), (c), (m) or (o) of the Code or Section 4001
of ERISA, at any relevant time (“Benefit Plans”).

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

    2.15          Patents; Trademarks and
Intellectual Property Rights.  Except as set forth on Schedule 2.15 (such
items set forth on Schedule 2.15
referred to herein as the “Intellectual Property”), the Company does not own or
possess any patents, trademarks, service marks, trade names, copyrights, trade
secrets, licenses, information, Internet web site(s) or proprietary rights of
any nature.  The business conducted by the Company has not and will
not cause the Company to infringe or violate any of the patents, trademarks,
service marks, trade names, copyrights, mask-works, licenses, trade secrets,
processes, data, know-how or other intellectual property rights of any other
person or entity.  The Company owns the entire right, title and
interest in and to, and has the exclusive perpetual royalty-free right to use,
the Intellectual Property, free and clear of all liens and
encumbrances.  There are no pending or, to the knowledge of Seller,
threatened claims against the Company by any person or entity with respect to
any of the items, or their use, listed on Schedule
2.15.

     

    2.16          Brokers.  The
Company or the Seller has not agreed to or incurred any obligation or other
liability that could be claimed against the Company, Seller or Buyers or any
other person for any finder’s fee, brokerage commission or similar
payment.

     

    2.17          Affiliate
Transactions.  No officer, director, employee or other
affiliate of the Company (or any of the relatives or affiliates of any of the
aforementioned persons) is a party to any agreement, Contract, commitment or
transaction with the Company or affecting the business of the Company, or has
any interest in any property, whether real, personal or mixed, or tangible or
intangible, used in or necessary to the Company which will subject the Company
to any liability or obligation from and after the Closing Date.

     

    2.18          Quotation on
OTCBB.  The Company’s Common Stock is currently eligible for
quotation on the OTC Bulletin Board (the “Bulletin Board”), and the Company has
not received any notices that its Common Stock will not be eligible for
quotation on the Bulletin Board.

     

    2.19          Compliance.  The
Company has complied with the requirements of the Exchange Act and the
Securities Act, and is current in its filings under the Exchange Act and the
Securities Act.

     

    2.20          Filings.  None
of the filings made by the Company under the Exchange Act or the Securities Act
contain any untrue statement of a material fact or omit to state a material fact
necessary in order to make the statements made, in light of the circumstances
under which they were made, not misleading.

     

    2.21          Consents.  Other
than any applicable Current Report on Form 8-K under the Exchange Act, and any
Section 13(a) or 15(d) filings, no consent, waiver, approval, order or
authorization of, or registration, declaration or filing with, any court,
administrative agency or commission or other federal, state, county, local or
other foreign governmental authority, instrumentality, agency or commission
(“Governmental Entity”) is required by or with respect to the Sellers in
connection with the execution and delivery of this Agreement and any related
agreements to which the Seller is a party or the consummation of the
transactions contemplated hereby and thereby, except for such consents, waivers,
approvals, orders, authorizations, registrations, declarations and filings as
may be required under applicable securities laws.

     

    2.22          Schedules and
Exhibits.  All lists or other statements, information or
documents set forth in, or attached to any Disclosure Schedules, Schedules and
Exhibits provided pursuant to this Agreement or delivered hereunder shall be
deemed to be representations and warranties by the Company with the same force
and effect as if such lists, statements, information and documents were set
forth herein.  Any list, statement, document or any information set forth
in, or attached to any Disclosure Schedules, Schedules or Exhibits provided
pursuant to this Agreement or delivered hereunder shall not be deemed to
constitute disclosure for the purposes of any other Disclosure Schedules,
Schedules or Exhibits provided pursuant to this Agreement unless specific cross
reference is made and shall survive after closing.

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

    2.23          Environmental
Matters.  The Company has never: (i) operated any
underground storage tanks at any property that the Company has at any time
owned, operated, occupied or leased; or (ii) illegally released any
material amount of any substance that has been designated by any Governmental
Entity or by applicable foreign, federal, state, or local law to be radioactive,
toxic, hazardous or otherwise a danger to health or the environment, including,
without limitation, PCBs, asbestos, petroleum, and urea-formaldehyde and all
substances listed as hazardous substances pursuant to the Comprehensive
Environmental Response, Compensation, and Liability Act of 1980, as amended, or
defined as a hazardous waste pursuant to the United States Resource Conservation
and Recovery Act of 1976, as amended, and the regulations promulgated pursuant
to said laws), but excluding office and janitorial supplies properly and safely
maintained.

     

    2.24          Representations and
Warranties.  The representations and warranties of the Seller
included in this Agreement and any list, statement, document or information set
forth in, attached to any Disclosure Schedules, Schedules and Exhibits provided
pursuant to this Agreement or delivered hereunder, are true and complete in all
material respects and do not contain any untrue statement of a material fact or
omit to state a material fact required to be stated herein or therein or
necessary to make the statements contained herein or therein not misleading,
under the circumstance under which they were made and shall survive after
Closing as set forth herein.

     

     

    ARTICLE
III

     

    REPRESENTATIONS
AND WARRANTIES OF THE BUYER

     

    The Buyer
hereby represents and warrants to the Company that now and as of the
Closing:

     

    3.1           Authority Relative to this
Agreement.  Buyer has the requisite power and/or authority to
enter into this Agreement and carry out its obligations
hereunder.  This Agreement has been duly and validly executed and
delivered by the Buyer and constitutes a valid and binding obligation of the
Buyer, enforceable in accordance with its terms, except as such enforcement may
be limited by bankruptcy, insolvency or other similar laws affecting the
enforcement of creditors' rights generally or by general principles of
equity.

     

    3.2            Buyer Representation
Regarding the Securities.  The Buyer understands that the
Shares have not been and will not be registered under the Securities Act or any
United States state securities laws and the Shares are being offered and sold
pursuant to Regulation S under the Securities Act based in part on the truth and
accuracy of the representations of the Buyer set forth herein.  The
Buyer is purchasing the Shares for its own account for investment purposes only
and not with a view to the distribution thereof nor on behalf of or for the
benefit of any U.S. person and the sale and resale of the Shares have not been
prearranged with any U.S. person.  Notwithstanding the foregoing, the
undersigned may resell the Shares in accordance with the below.  The
Buyer agrees that prior to the expiration of a period commencing on the date of
the issuance of the Shares and ending one year from the issuance of the Shares
(the “Distribution Period”), the Buyer shall not offer, sell, assign, transfer,
pledge, encumber or otherwise dispose of the Shares to U.S. persons or for the
account or benefit of U.S. persons and it will not resell the Shares except (1)
outside the United States in an offshore transaction in compliance with
Regulation S under the Securities Act; (2) pursuant to an exemption from
registration under the Securities Act; or (3) pursuant to an effective and
current registration statement under the Securities Act.  The Buyer
further agrees that during the Distribution Period it shall not engage in
hedging transactions with regard to the Shares unless in compliance with the
Securities Act.

    

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

    3.3            Buyer
Status.  The Buyer is not a U.S. person (“U.S. person”) as that
term is defined in Rule 902(k) of Regulation S of the Securities Act and the
Shares have not been offered to the Buyer in the United States and at the time
of the offer the Buyer was physically outside of the United States.

    

    3.4            Experience of the
Buyer.  The Buyer has (a) been furnished with all information
which it deems necessary to evaluate the merits and risks of the purchase of the
Shares; (2) had the opportunity to ask questions concerning the Shares and the
Company and all questions posed have been answered to its satisfaction; (3) been
given the opportunity to obtain any additional information it deems necessary to
verify the accuracy of any information obtained concerning the Shares and the
Company; and (4) such knowledge and experience in financial and business matters
that it is able to evaluate the merits and risks of purchasing the Shares and to
make an informed investment decision relating thereto.

    

    3.5           
General
Solicitation.  The Buyer is not receiving the Shares as a
result of any advertisement, article, notice or other communication regarding
the Shares published in any newspaper, magazine or similar media or broadcast
over television or radio or presented at any seminar or any other general
solicitation or general advertisement.

    
 

    ARTICLE
IV

     

    COVENANTS
OF THE SELLER

     

    4.1           Resignation and Appointment
of the Company’s Officers and Directors.  Effective as of the
Closing Date, or such later date as agreed to between the Buyer and Seller, (i)
except for the existing Chief Financial Officer, the Seller will cause the
Company’s officers to resign and be duly replaced by the Buyer’s designees; and
(ii) the Seller will cause the Company to cause the Buyer’s director designees
to be duly appointed.

    

    4.2           Preparation of Periodic
Reports.  From the Closing Date and until the earlier of (i)
nine months from the date hereof and (ii) such time as there is a “change in control” of the
Company, Seller will, at its own cost and expense, arrange for the preparation
of the regular periodic reports required to be filed by the Company with the SEC
pursuant to the Securities Act and the Exchange Act, and the rules and
regulations promulgated thereunder.  For purposes of this Section 4.2,
a “change in control” of the Company shall be deemed to occur if a third party
(or parties) acquires, directly or indirectly, securities of the Company
representing 50% or more of the total voting power of the
Company.

     

     

    ARTICLE
V

     

    DELIVERIES
& CONDITIONS

     

    5.1           Items to be delivered to the
Buyer at the Closing by the Seller.  The Buyer’s obligation to
purchase the Shares hereunder is conditioned on the following closing conditions
and deliveries:

     

    (a)           Delivery
by the Seller of the following:

     

    (i)         
   copies of the Company’s Certificate of Incorporation and
amendments thereto, By-laws and amendments thereto;

     

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

    (ii)         
  all minutes and resolutions of the board of directors and of the
stockholders (and meetings of stockholders) in possession of the
Company;

     

    (iii)           stockholder
list of the Company;

     

    (iv)           all
financial statements and tax returns in possession of the Company;

     

    (v)        
   all applicable schedules hereto;

     

    (vi)           Letters
of resignation from the Company’s current officers and directors to be effective
upon Closing and confirming that they have no claim against the Company in
respect of any outstanding remuneration or fees of whatever nature to be
effective upon closing and after the appointments, with the resignation of the
directors to take effect on the Closing Date;

     

    (vii)          Executed
board resolutions authorizing and approving the actions to be performed by the
Company hereunder and appointing designees of the Buyer as members of the board
of directors or officers of the Company as set forth in Schedule
D;

     

    (viii)          A
certificate of the Secretary or Assistant Secretary of the Company, dated as of
the Closing Date, certifying as to (i) the incumbency of officers of the Company
executing this Agreement and all exhibits and schedules hereto and all other
documents, instruments and writings required pursuant to this Agreement (the
“Transaction Documents”), (ii) a copy of the Certificate of Incorporation and
By-Laws of the Company, as in effect on and as of the Closing Date, and (iii) a
copy of the resolutions of the Board of Directors of the Company authorizing and
approving the Company’s execution, delivery and performance of the Transaction
Documents, all matters in connection with the Transaction Documents, and the
transactions contemplated thereby;

     

    (ix)           A
certificate, executed by the President of the Company as of the Closing Date,
certifying to the fulfillment of all of the conditions to the Buyer’s
obligations under this Agreement and certifying that each of the representations
and warranties of the Seller as set forth in Section 2 of this Agreement is true
and correct in all material respects as of the Closing Date as though made on
and as of the Closing Date;

     

    (x)        
   A duly executed copy of this Agreement;

     

    (xi)           The
Share Certificates (or an instruction letter issued by the Company to the
Company’s transfer agent authorizing and instructing the transfer of the Shares
from the Seller to the Buyer pursuant to this Agreement and the signed
instruments of transfer for the Share Certificates);

     

    (xii)           Good
standing and existence certificates for the Company from the State of Delaware;
and

     

    (xiii)          Any
other document reasonably requested by the Buyer that the Buyer deems necessary
for the consummation of this transaction.

     

    (b)           The
Buyer is satisfied with its due diligence investigation of the Company, in its
sole discretion;

     

    (c)           The
Buyer’s designees for the officer and director positions of the Company shall
have been duly appointed; and

     

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

    (d)           The
representations and warranties set forth in Article 2 of this Agreement shall be
true and correct in all material respects.

     

    5.2           Items to be delivered at
Closing by Buyer.  The Seller’s obligations to sell the Shares
hereunder are conditioned on the following closing conditions and deliveries by
the Buyer:

     

    (a)           All
applicable exhibits and schedules hereto;

     

    (b)           A
duly executed copy of this Agreement;

     

    (c)           Any
other document reasonably requested by the Seller that it deems necessary for
the consummation of this transaction; and

     

    (d)           The
Purchase Price.

     

     

    ARTICLE
VI

     

    TERMINATION

     

    6.1           Termination.  This
Agreement may be terminated:

     

    (a)           at
any time before, or at, Closing by written notice of the
Buyer;  and

     

    (b)           prior
to the Closing by any Party at any time if any provision (including, but not
limited to, the representations and warranties) of this Agreement that is
applicable to or required to be performed by the other Party shall be materially
untrue or shall become incapable of being accomplished or if any conditions set
forth in Article 5 hereof have not been fully satisfied as of the Closing
Date.

     

    Upon
termination of this Agreement for any reason, in accordance with the terms and
conditions set forth in this paragraph, each Party shall bear its own costs and
expenses.

     

     

    ARTICLE
VII

     

    INDEMNIFICATION

    

    7.1           Indemnification.

     

    (a)           Obligation of Seller to
Indemnify.  Seller agrees to indemnify, defend and hold
harmless Buyer (and its directors, officers, employees, affiliates,
stockholders, debenture holders, agents, attorneys, successors and assigns) from
and against all losses, liabilities, damages, deficiencies, costs or expenses
(including interest, penalties and reasonable attorneys’ and consultants’ fees
and disbursements) (collectively, “Losses”) based upon, arising out of or
otherwise in respect of any (i) inaccuracy in any representation or warranty of
the Seller contained in this Agreement or (ii) breach by the Seller of any
covenant or agreement contained in this Agreement.

     

    (b)           Obligation of Buyer to
Indemnify.  Buyer agrees to indemnify, defend and hold harmless
Seller from and against all Losses based upon, arising out of or otherwise in
respect of any (i) inaccuracy in any representation or warranty of the Buyer
contained in this Agreement or (ii) breach by the Buyer of any covenant or
agreement contained in this Agreement.

     

    (c)           Notice and Opportunity to
Defend.  Promptly after receipt by any person entitled to
indemnity under this Agreement (an “Indemnitee”) of notice of any demand, claim
or circumstances which, with the lapse of time, would or might give rise to a
claim or the commencement (or threatened commencement) of any action, proceeding
or investigation (an “Asserted Liability”) that may result in a Loss, the
Indemnitee shall give notice thereof (the “Claims Notice”) to any other party
(or parties) who is or may be obligated to provide indemnification pursuant to
Section 7.1(a) (the “Indemnifying Party”).  The Claims Notice shall
describe the Asserted Liability in reasonable detail and shall indicate the
amount (estimated, if necessary and to the extent feasible) of the Loss that has
been or may be suffered by the Indemnitee.

     

    
      
        
        

      

      
        11

        
          

        

      

      
        
        

      

    

    (d)           The
Indemnifying Party may elect to compromise or defend, at its own expense and by
its own counsel, any Asserted Liability.  If the Indemnifying Party
elects to compromise or defend such Asserted Liability, it shall within 30 days
after the date the Claims Notice is given (or sooner, if the nature of the
Asserted Liability so requires) notify the Indemnitee of its intent to do so,
and the Indemnitee shall cooperate, at the expense of the Indemnifying Party, in
the compromise of, or defense against, such Asserted Liability.  If
the Indemnifying Party elects not to compromise or defend the Asserted
Liability, fails to notify the Indemnitee of its election as herein provided or
contests its obligation to indemnify under this Agreement, the Indemnitee may
pay, compromise or defend such Asserted Liability and all reasonable expenses
incurred by the Indemnitee in defending or compromising such Asserted Liability,
all amounts required to be paid in connection with any such Asserted Liability
pursuant to the determination of any court, governmental or regulatory body or
arbitrator, and amounts required to be paid in connection with any compromise or
settlement consented to by the Indemnitee, shall be borne by the Indemnifying
Party.  Except as otherwise provided in the immediately preceding
sentence, the Indemnitee may not settle or compromise any claim over the
objection of the Indemnifying Party.  In any event, the Indemnitee and
the Indemnifying Party may participate, at their own expense, in (but the
Indemnitee may not control) the defense of such Asserted
Liability.  If the Indemnifying Party chooses to defend any claim, the
Indemnitee shall make available to the Indemnifying Party any books, records or
other documents within its control that are necessary or appropriate for such
defense.

    
 

    ARTICLE
VIII

     

    MISCELLANEOUS

     

    8.1           Survival of Representations,
Warranties and Agreements.  All representations, warranties and
statements made by a Party in this Agreement or in any document or certificate
delivered pursuant hereto shall survive the Closing Date.  Each of the
Parties hereto is executing and carrying out the provisions of this Agreement in
reliance upon the representations, warranties and covenants and agreements
contained in this Agreement or at the Closing of the transactions herein
provided for and not upon any investigation which it might have made or any
representation, warranty, agreement, promise or information, written or oral,
made by the other Party or any other person other than as specifically set forth
herein.

     

    8.2           Access to Books and
Records.  During the course of this transaction through
Closing, the Seller agrees to make available for inspection all Company
corporate books, records and assets, and otherwise afford the Buyer and its
respective representatives, reasonable access to all documentation and other
information concerning the business, financial and legal conditions of the
Company for the purpose of conducting a due diligence investigation
thereof.  Such due diligence investigation shall be for the purpose of
satisfying each Party as to the business, financial and legal condition of the
Company for the purpose of determining the desirability of consummating the
proposed transaction.  The Parties further agree to keep confidential
and not use for their own benefit, except in accordance with this Agreement any
information or documentation obtained in connection with any such
investigation.

     

    
      
        
        

      

      
        12

        
          

        

      

      
        
        

      

    

    8.3           Further
Assurances.  If, at any time after the Closing, the Parties
hereby mutually agree that any
further deeds, assignments or assurances in law or any other things are
necessary, desirable or proper to complete the transactions contemplated hereby
in accordance with the terms of this Agreement or to vest, perfect or confirm,
of record or otherwise, the title to any property or rights of the Parties
hereto, the Parties agree that their proper officers and directors shall execute
and deliver all such proper deeds, assignments and assurances in law and do all
things necessary, desirable or proper to vest, perfect or confirm title to such
property or rights and otherwise to carry out the purpose of this Agreement, and
that the proper officers and directors the Parties are fully authorized to take
any and all such action.

     

    8.4           Notice.  All
communications, notices, requests, consents or demands given or required under
this Agreement shall be in writing and shall be deemed to have been duly given
when delivered to, or received by prepaid registered or certified mail or
recognized overnight courier addressed to, or upon receipt of a facsimile sent
to, the Party for whom intended, as follows, or to such other address or
facsimile number as may be furnished by that Party by notice in the manner
provided herein:

     

    If to
Buyer:

    

    George
Elliott

    Kifissias
36 Maroussi

    Athens
Greece 151 25

    Tel:003
0210 6846943

    Fax: 003
0210 6846083

    

    If to
Seller:

    

    Trinad
Capital Master Fund, Ltd.

    2121
Avenue of the Stars

    Suite
2550

    Los
Angeles, CA 90067

    Attn: Jay
Wolf

    Tel:
310-601-2500

    Fax:  310-277-2741

    

    8.5           Entire
Agreement.  This Agreement, the Exhibits and Schedules hereto
and any instruments and agreements to be executed pursuant to this Agreement,
set forth the entire understanding of the Parties hereto with respect to its
subject matter, merges and supersedes all prior and contemporaneous
understandings with respect to its subject matter and may not be waived or
modified, in whole or in part, except by a writing signed by each of the Parties
hereto.  No waiver of any provision of this Agreement in any instance
shall be deemed to be a waiver of the same or any other provision in any other
instance.  Failure of any Party to enforce any provision of this
Agreement shall not be construed as a waiver of its rights under such
provision.

     

    8.6           Successors and
Assigns.  This Agreement shall be binding upon, enforceable
against and inure to the benefit of, the Parties hereto and their respective
heirs, administrators, executors, personal representatives, successors and
assigns, and nothing herein is intended to confer any right, remedy or benefit
upon any other person.  This Agreement may not be assigned by the
Seller except with the prior written consent of the Buyer.  This
Agreement and all of the obligations of the Seller may be assigned by the Buyer
without the prior notice to the Seller or written consent of the Seller and upon
assignment, all of the rights and obligations of Buyer shall be the rights and
obligations of the Buyer’s designated assignee.

     

    
      
        
        

      

      
        13

        
          

        

      

      
        
        

      

    

    8.7   
        Governing
Law.  This Agreement shall in all respects be governed by and
construed in accordance with the laws of the State of Delaware that are
applicable to agreements made and fully to be performed in such state, without
giving effect to conflicts of law principles.

     

    8.8     
      Construction.  Headings
contained in this Agreement are for convenience only and shall not be used in
the interpretation of this Agreement.  References herein to Articles,
Sections and Exhibits are to the articles, sections and exhibits, respectively,
of this Agreement.  The Schedules hereto are hereby incorporated
herein by reference and made a part of this Agreement.  As used
herein, the singular includes the plural, and the masculine, feminine and neuter
gender each includes the others where the context so indicates.

     

    8.9         
  Severability.  If
any provision of this Agreement is held to be invalid or unenforceable by a
court of competent jurisdiction, this Agreement shall be interpreted and
enforceable as if such provision were severed or limited, but only to the extent
necessary to render such provision and this Agreement enforceable.

     

    8.10          Arbitration.  Any
controversy arising out of, connected to, or relating to any matters herein of
the transactions with the Parties hereto on behalf of the undersigned, or this
Agreement, or the breach thereof, including, but not limited to any claims of
violations of federal and/or state securities laws, banking statutes, consumer
protection statutes, federal and/or state anti-racketeering (e.g. RICO) claims
as well as any common law claims and any state law claims of fraud, negligence,
negligent misrepresentations, and/or conversion, or the laws of any territory,
country or jurisdiction, shall be settled by arbitration; and in accordance with
this paragraph any judgment on the arbitrator’s award may be entered in any
court having jurisdiction thereof.  In the event of such a dispute,
each Party agrees to arbitration conducted through the auspices of American
Arbitration Association.  Venue for any action shall lie in the State
of New York, U.S.A.

     

    8.11          Confidentiality; Public
Disclosure.  Except as otherwise required by law, stock
exchange, listing agency or similar body, each of the Parties hereto hereby
agrees that the information obtained pursuant to the negotiation and execution
of this Agreement shall be treated as confidential and not be disclosed to third
parties who are not agents of one of the Parties to this Agreement.

     

    8.12          Notification of Certain
Matters.  Each Party shall give prompt notice to the other of
(i) the occurrence or non-occurrence of any event, the occurrence or
non-occurrence of which is likely to cause any representation or warranty of
such party contained in this Agreement to be untrue or inaccurate and (ii) any
failure of such Party to comply with or satisfy any covenant, condition or
agreement to be complied with or satisfied by it hereunder; provided, however, that the
delivery of any notice pursuant to this Section shall not limit or
otherwise affect any remedies available to the Party receiving such
notice.  Further, disclosure pursuant to this Section shall not
be deemed to amend or supplement the Schedules hereto or prevent or cure
any misrepresentations, breach of warranty or breach of covenant.

     

    8.13          Currency.  The
parties hereto agree that all monetary amounts set forth herein are referenced
in United States dollars, unless otherwise stated.

     

    8.14          Rules of
Construction.  The parties hereto agree that they have been
represented by counsel during the negotiation and execution of this Agreement
and, therefore, waive the application of any law, regulation, holding or rule of
construction providing that ambiguities in an agreement or other document will
be construed against the Party drafting such agreement or document.

     

    8.15          Counterparts.  This
Agreement may be executed in counterparts and by facsimile
signatures.  In the event that any signature is delivered by facsimile
transmission, such signature shall create a valid and binding obligation of the
Party executing (or on whose behalf such signature is executed) with the same
force and effect as if such facsimile signature page were an original
thereof.  All such counterparts shall together constitute one and the
same instrument.

     

    
      
        
        

      

      
        14

        
          

        

      

      
        
        

      

    

     

    IN WITNESS WHEREOF, each of the Parties
hereto has executed this Agreement as of the date first set forth
above.

    

    
      
        
          
            
              
                
                  
                    
                      
                        	 
      	
                                BUYER:

                              	 
	 
      	 
      	 
      	 
	 
      	 
      	 
      	 
	 
      	 
      	 
      	 
	 
      	
                                George
      Elliott 

                              	 
	 
      	
                                /s/
      George Elliott

                              	 
	 
      	 
      	 
      	 
	 
      	 
      	 
      	 
	 
      	 
      	 
      	 
	 
      	 
      	 
      	 
	 
      	
                                SELLER:

                              	 
	 
      	 
      	 
      	 
	 
      	
                                TRINAD
      CAPITAL MASTER FUND, LTD.

                              
	 
      	 
      	 
      	 
	 
      	 
      	 
      	 
	 
      	
                                By:

                              	
                                Jay
      A. Wolf

                              	 
	 
      	
                                 

                              	
                                /s/
      Jay A. Wolf

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