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wig_ex10-2.htm

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    WILSHIRE
INTER-GROUP, INC.

    Subscription
Agreement

    

    

    

    PRINT
NAME OF SUBSCRIBER:

     

    NUMBER OF
SHARESS SUBSCRIBED FOR:

     

    

    Exhibit
A

    

    SUBSCRIPTION
AGREEMENT

     

    For the
Purchase of Shares of the Common Stock

    

    of

    

    WILSHIRE
INTER-GROUP, INC.

     

    The
undersigned hereby subscribes for the number of Shares as set forth below the
Investor’s name on the Execution Page, of Wilshire Inter-Group, Inc., a Nevada
corporation (the “Company”) at a purchase price of $0.10 per share. The minimum
investment will be 5,000 Shares, except that the Company may accept
subscriptions for fewer Shares. The Shares shall be offered only to qualified
investors. The Offering shall terminate on March 12, 2009 unless extended by the
Company for a period of up to sixty (60) days from such date (the “Offering
Period”).

     

    The
purchase price is due and payable upon the execution of this Subscription
Agreement, and shall be paid by check, made payable to the order of Wilshire
Inter-Group, Inc. or by wire transfer to the address/bank set forth in the
Company’s Confidential Private Placement Memorandum (“PPM”).

     

    The
undersigned acknowledges that the Shares will not be registered under the Act or
the securities laws of any state and that the Company’s reliance upon exemptions
from registration is based upon the undersigned’s representations, and
warranties contained in the PPM. In the event that (i) an investor’s
subscription is rejected by the Company, or (ii) the Offering is terminated for
any reason without a closing, subscription proceeds will be promptly refunded to
prospective investors without interest or deduction.

     

    
      	
              1.

            	
              The
      undersigned represents, warrants, and agrees as
  follows:

            

    

     

    
      	
              (a)

            	
              The
      undersigned has carefully read the PPM which the undersigned acknowledges
      having been provided to the undersigned. The undersigned has been given
      the opportunity to ask questions of, and receive answers from, the Company
      concerning the terms and conditions of this Offering and the PPM and to
      obtain such additional written information, necessary in order to evaluate
      the investment.  Notwithstanding the foregoing, the only
      information upon which the undersigned has relied is that set forth in the
      Offering Materials and his or her own independent
      investigation.

            

    

     

    
      	
              (b)

            	
              The
      purchase of the Shares is a speculative investment involving a high degree
      of risk. There is no guarantee that the undersigned will realize any gain
      from this investment, and that the undersigned could lose the total amount
      of the undersigned’s investment.  The undersigned has
      specifically and carefully reviewed and is aware of all of the risk
      factors related to the purchase of
Shares.

            

    

     

    
      	
              (c)

            	
              No
      federal or state agency or authority has made any finding or determination
      regarding the fairness of this Offering for investment, or any
      recommendation or endorsement of this
Offering.

            

    

     

    
 

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

     

    
      	
              (d)

            	
              The
      undersigned is purchasing the Shares for the undersigned’s own account,
      with the intention of holding the Shares, with no present intention of
      dividing or allowing undisclosed persons to participate in this investment
      or of reselling or otherwise participating, directly or indirectly, in a
      distribution of the Common Shares or Warrants and shall not make any sale,
      transfer, or pledge thereof without registration under the Act and any
      applicable securities laws of any state or other jurisdiction or unless an
      exemption from registration is available under those laws to the
      satisfaction of the Company and its
counsel.

            

    

     

    
      	
              (e)

            	
              The
      undersigned represents that the undersigned, if an individual, has
      adequate means of providing for his or her current needs and personal and
      family contingencies and has no need for liquidity in this investment in
      the shares

            

    

     

    
      	
              (f)

            	
              FOR
      PARTNERSHIPS, CORPORATIONS, TRUSTS, OR OTHER ENTITIES
  ONLY:

            

    

     

    If the
undersigned is a partnership, corporation, trust or other entity, (i) the
undersigned has enclosed with this Subscription Agreement appropriate evidence
of the authority of the individual executing this Subscription Agreement to act
on its behalf (e.g., if a trust, a certified copy of the trust agreement; if a
corporation, a certified corporate resolution authorizing the signature and a
certified copy of the articles of incorporation; or if a partnership, a
certified copy of the partnership agreement), (ii) the undersigned represents
and warrants that it was not organized or reorganized for the specific purpose
of acquiring the Shares, (iii) the undersigned has the full power and authority
to execute this Subscription Agreement on behalf of such entity and to make the
representations and warranties made herein on its behalf, and (iv) this
investment in the Company has been affirmatively authorized, if required, by the
governing board of such entity and is not prohibited by the governing documents
of the entity.

     

    
      	
              (g)

            	
              The
      address shown under the undersigned’s signature at the end of this
      Subscription Agreement is the undersigned’s principal residence if he or
      she is an individual or its principal business address if a corporation or
      other entity.

            

    

     

    
      	
              (h)

            	
              The
      undersigned has such knowledge and experience in financial and business
      matters as to be capable of evaluating the merits and risks of an
      investment in the Shares.

            

    

     

    
      	
              (i)

            	
              The
      undersigned acknowledges that the certificates for the Common Shares and
      Warrants constituting the Shares which the undersigned will receive will
      contain a legend substantially as
follows:

            

    

     

    THESE
SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED, OR APPLICABLE STATE SECURITIES LAWS, AND MAY NOT BE SOLD, PLEDGED OR
OTHERWISE TRANSFERRED WITHOUT AN EFFECTIVE REGISTRATION STATEMENT UNDER SUCH ACT
OR PURSUANT TO AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF SUCH ACT AND
APPLICABLE STATE SECURITIES LAWS, SUPPORTED BY AN OPINION OF COUNSEL, THAT SUCH
REGISTRATION IS NOT REQUIRED.

     

    
      	
              4.

            	
              The
      undersigned has been furnished with and has carefully read the
      PPM.

            

    

     

    
      	
              5.

            	
              The
      undersigned is not an officer, director, stockholder, employee of, or
      consultant to, any member of FINRA.

            

    

     

    
      	
              6.

            	
              The
      undersigned subscriber acknowledges that the undersigned understands the
      meaning and legal consequences of the representations and warranties which
      are contained herein and hereby agrees to indemnify, save and hold
      harmless the Company, and its respective officers, directors, partners,
      employees, agents, and attorneys from and against any and all claims or
      actions arising out of a breach of any representation, warranty or
      acknowledgment of the undersigned contained in any of the Offering
      Materials.  Such indemnification shall be deemed to survive any
      purchase of the Shares and to include not only the specific liabilities,
      losses, damages or obligations with respect to which such indemnity is
      provided, but also all reasonable costs, expenses, counsel fees and
      expenses of settlement relating thereto, whether or not any such
      liabilities, losses, damages or obligations shall have been reduced to
      judgment.

            

    

     

    
 

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

     

    
      	
              7.

            	
              The
      Company has been duly and validly incorporated and is validly existing and
      in good standing as a corporation under the laws of the State of Nevada.
      The Company has all requisite power and authority, and all necessary
      authorizations, approvals and orders required as of the date hereof to own
      its properties and conduct its business and to enter into this
      Subscription Agreement and the other Offering Materials and to be bound by
      the provisions and conditions hereof or
therein.

            

    

     

    
      	
              8.

            	
              This
      Subscription Agreement may not be changed, modified, extended, terminated
      or discharged orally, but only by an agreement in writing, which is signed
      by all of the parties to this Subscription
  Agreement.

            

    

     

    
      	
               9.

            	
              The
      parties agree to execute any and all such other and further instruments
      and documents, and to take any and all such further actions reasonably
      required to effectuate this Subscription Agreement and the intent and
      purposes hereof.

            

    

     

    
      	
              10.

            	
              If
      any provision or any portion of any provision of this Subscription
      Agreement or the application of any such provision or any portion thereof
      to any person or circumstance, shall be held invalid or unenforceable, the
      remaining portion of such provision not held invalid or unenforceable to
      any person or circumstance shall not be affected
  thereby.

            

    

     

    
      	
              11.

            	
              This
      Subscription Agreement may be executed in one or more counterparts, each
      of which shall be deemed an original but all of which together shall
      constitute one and the same instrument.  The execution of this
      Subscription Agreement may be by actual or facsimile
      signature.

            

    

     

    
      	
              12.

            	
              This
      Subscription Agreement shall be governed by and construed in accordance
      with the internal laws of the State of Nevada without giving effect to
      conflicts of law principles and the undersigned hereby consents to the
      jurisdiction of the courts of the State of
  Nevada.

            

    

     

    

     

    

     

    

     

    

     

    

     

    

     

    

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

     

    
      	
               
      

            	
              SIGNATURE
      PAGE*

            

    

    

    Manner in
Which Title is to be Held:  (check one)

    1.           [  ]           Individual

    2.           [  ]           Joint
Tenants with Right of Survivorship (both parties must sign)

    3.           [  ]           Married
with Separate Property

    4.           [  ]           Community
Property

    5.           [  ]           Tenants
in Common

    6.           [  ]           Corporation

    7.           [  ]           Partnership

    8.           [  ]           IRA
of

    9.           [  ]           Trust,
dated opened

    10.           [  ]           Keogh
of

    11.           [  ]           As
a Custodian for under the Uniform Gift to Minors Act of the State
of

    12.           [  ]           Other
(please indicate)

    

    
      Total
Number of Shares to be purchased:  1,000

      Total
Purchase Price ($0.10 per share):    $
100

    

    

    INDIVIDUAL
INVESTORS                                                                ENTITY
INVESTORS

    

    ______________________________                                        

    Signature
(Individual)                                                                                     Name
of Entity, if any

    

    

    Signature

    

    Its

    Signature
(all record holders should
sign)                                                                                                                     Title

    

    

    Name(s)
Typed or
Printed                                                                                                Name
Typed or Printed

    Address
to Which
Correspondence                                                                              Address
to Which Correspondence

    Should be
Directed                                                                                                        
  Should be Directed

    

    

    

    

    City,
State and Zip
Code                                                                                              City,
State and Zip Code

    

    

    Social
Security
Number                                                                                                Tax
Identification Number

    

    The
foregoing subscription is accepted
this           day
of              ,
200

    

    Wilshire Inter-Group, Inc.

    

    By:  ____________________________

    Fred Grant, President,
CEO

    

     

     

    
 

    
      
         

      

      
        4cdii_ex10-1.htm

     

    
      

      

    

    
 

    SEPARATION
AGREEMENT

     

    This
agreement (the “Agreement”) effective on the last day executed below, is entered
into between   I. ANDREW WEERARTNE (“Employee”) and CHINA DIRECT,
INC., a Florida corporation (“Employer”) relating to Employee’s employment and
separation from employment with Employer and its subsidiaries.

     

    In
consideration of the execution and delivery of the Agreement and other good and
valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereby agree as follows:

     

    
      	
              1.  

            	
              Separation
      from Employment and Severance
Payment.

            

    

     

    
      	
              1.1.  

            	
              Employee’s
      separation will be effective May 22, 2009 (the “Separation
      Date”).  Employee will receive: (i) on the date this agreement
      is signed by the parties, the cash portion of his pay for earnings from
      May 1, 2009 through May 31, 2009 in the amount of $4,166.66 less certain
      payroll deductions in the amount of $318.75 for Medicare and FICA; and
      (ii) upon expiration of the Revocation Period, as hereinafter defined,
      34,367 shares of China Direct, Inc. common stock (the “Stock Based
      Compensation”).  The shares included in the Stock Based
      Compensation have been registered by the Company under the Securities Act
      of 1933, as amended.  The cash payment and stock award covers
      all of the Employer’s obligations to Employee.  Employee
      acknowledges that no other compensation, vacation pay, sick pay or any
      other money is currently owed to
Employee.

            

    

     

    
      	
              2.  

            	
              Covenants
      of Employee.

            

    

     

    
      	
              2.1.  

            	
              As
      of the Separation Date, Employee shall resign as Employer’s Chief
      Financial Officer and from any and all other offices or positions Employee
      may have had with Employer or any of its subsidiaries or affiliated
      companies effective on the Separation Date.  Employee agrees to
      sign a form of resignation letter attached hereto as Exhibit A. Employee
      hereby confirms that Employee’s resignation was not the result of any
      disagreement with Employer on any matter relating to its operation,
      policies (including accounting or financial policies) or
      practices.

            

    

     

    
      	
              2.2.  

            	
              In
      exchange for the promises which Employer makes in this Agreement, Employee
      promises to waive and to release Employer and its subsidiaries, including
      but not limited to, China Direct Investments, Inc., from liability for all
      rights and claims, whether or not they are presently known to exist, that
      Employee has against Employer relating in any way to Employee’s employment
      or separation from employment with Employer and its
      subsidiaries.

            

    

     

    
      	
              2.3.  

            	
              The
      rights and claims which Employee waives and releases in this Agreement
      include, to every extent allowed by law, those arising under the Employee
      Retirement Income Security Act of 1974, the Civil Rights Acts of 1866,
      1871, 1964 and 1991, the Rehabilitation Act of 1973, the Fair Labor
      Standards Act, the Equal Pay Act of 1963, the Vietnam Era Veteran’s
      Readjustment Assistance Act of 1974, the Occupational safety and Health
      Act, the Immigration reform and Control Act of 1986, the Americans with
      Disabilities Act, the Age Discrimination in Employment Act of 1967, the
      Older Worker’s Benefit Protection Act, and the Florida Civil Rights
      Act.  This is not a complete list, and Employee waives and
      releases all similar rights and claims under all other federal, state and
      local discrimination provisions and all other statutory and common law
      causes of action relating in any way to Employee’s employment or
      separation from employment with
Employer.

            

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
      	
              2.4.  

            	
              Employee
      hereby agrees to remise, release, acquit, satisfy, and forever discharge
      Employer, of and from all, and all manner of action and actions, cause and
      causes of action, suits, debts, dues, sums of money, accounts, reckonings,
      bonds, bills, specialties, covenants, contracts, controversies,
      agreements, promises, variances, trespasses, damages, judgments,
      executions, claims and demands whatsoever, in law or in equity, which
      Employee ever had, now has, or which any personal representative,
      successor, heir or assign of Employee, hereafter can, shall or may have,
      against Employer, for, upon or by reason of any matter, cause or thing
      whatsoever, from the beginning of the world to the day of this
      Agreement.

            

    

     

    
      	
              2.5.  

            	
              Employee
      agrees not to testify for, appear on behalf of, or otherwise assist in any
      way any individual, company, or agency in any claim against Employer,
      except, unless, and only pursuant to a lawful subpoena issued to
      Employee.  If such a subpoena is issued, Employee will
      immediately notify Employer and provide it with a copy of the
      subpoena.

            

    

     

    
      	
              2.6.  

            	
              Employee
      agrees and promises not to undertake any disparaging conduct directed at
      Employer and shall refrain from making any negative or derogatory
      statements concerning Employer.

            

    

     

    
      	
              2.7.  

            	
              Employee
      agrees to waive Employee’s right to future employment with Employer which
      Employee ever had, may now have, or may hereafter have, whether known or
      unknown to Employee at the time of execution of this
      Agreement.

            

    

     

    
      	
              2.8.  

            	
              Employee
      understands and agrees that as of the Separation Date, Employee was and is
      no longer authorized to incur any expenses or obligations or liabilities
      on behalf of Employer.

            

    

     

    
      	
              2.9.  

            	
              Employee
      acknowledges and agrees that, during the period of Employee’s employment
      by Employer, Employee had access to confidential, proprietary, strategic
      and sensitive information relating to Employer's business and affairs and
      the business and affairs of its affiliates and clients, including, without
      limitation, materials used for identifying clients, client information and
      lists, information concerning ongoing and potential assignments, internal
      operating procedures, business plans, projections, valuations techniques,
      financial models and research data.  Employee also acknowledges
      and agrees that such information is special and unique to Employer and its
      affiliates and clients.  Employee hereby agrees and covenants
      that Employee will not, directly or indirectly, publish, disclose or make
      accessible to any other person, firm, corporation, organization or entity,
      including, without limitation, any member of her family, any confidential,
      proprietary, strategic or sensitive information whatsoever relating,
      directly or indirectly, to Employer's clients, including such clients’
      names, business, or affairs or the business or affairs of any of
      Employer's affiliates or clients, that Employee may learn or initiate and
      develop a business relationship with during Employee’s employment by
      Employer, whether or not such information is specifically designated as
      confidential, proprietary, strategic or
  sensitive.

            

    

     

    
      
         

      

      
        - 2
-

        
          

        

      

      
         

      

    

    
      	
              2.10.  

            	
              Employee
      will not at any time after the Separation Date disclose or use for
      Employee’s own benefit or purposes or the benefit or purposes of any other
      person, firm, partnership, joint venture, association, corporation or
      other business organization, entity or enterprise other than Employer and
      any of its subsidiaries or affiliates, any trade secrets, information,
      data or other confidential information relating to customers, development
      programs, costs, marketing, trading, investment, sales activities,
      promotion, credit and financial data, manufacturing processes, financing
      methods, plans or the business and affairs of Employer, generally, or of
      any subsidiary or affiliate of Employer, however, that the foregoing shall
      not apply to information which is not unique to Employer, or which is
      generally known to the industry or the public other than as a result of
      Employee’s breach of this Agreement.  Employee agrees to return
      to Employer all memoranda, books, papers, plans, information, letters and
      other data, and all copies thereof or therefrom (including electronic
      media containing such information) in any way relating to the business of
      Employer and its affiliates, except that Employee may retain personal
      notes, notebooks and diaries that do not contain confidential information
      of the type described in the preceding sentence. Employee further agrees
      that Employee will not retain or use for Employee’s account at any time
      any trade names, trademark or other proprietary business designation used
      or owned in connection with the business of Employer or its
      affiliates.

            

    

     

    
      	
              2.11.  

            	
              Non-Solicitation.  Employee
      hereby further agrees that, for a period of two years after the Separation
      Date, Employee shall not, directly or indirectly, as an owner, officer,
      director, employee or agent, do any of the following: (i) reveal the name
      of, contract with, accept employment with, solicit, persuade, interfere
      with or endeavor to entice away from Employer or any of its affiliates or
      subsidiaries, any of their respective clients, agents, representatives or
      employees; or (ii) employ or offer to employ any person who, at any time
      up to the effective date of such termination, was an employee, agent or
      representative employed or retained by Employer or any of its affiliates
      within a period of one (1) year after such person is no longer employed or
      retained by Employer or any of its affiliates.  In addition to,
      and not in limitation of the other provisions hereof or of any other
      Agreement between Employee and Employer, Employee shall not at any time in
      any manner interfere with, disturb, disrupt, decrease or otherwise
      jeopardize the business of Employer or its affiliates or do or permit to
      be done anything which may tend to take away or diminish the trade,
      business or good will of Employer or its affiliates or give to any person
      the benefit or advantage of Employer's or its affiliates methods of
      operation, advertising, publicity, training, clients or prospective
      clients, or any other information relating or useful to the business of
      Employer or its affiliates.

            

    

     

    
      	
              2.12.  

            	
              Employee
      hereby certifies that Employee has returned to Employer, all of Employer’s
      property, including computer and office equipment, office keys, phone
      card, security access card, credit card, parking pass, supplies, customer
      and work files and other related
materials.

            

    

     

    
      	
              2.13.  

            	
              Employee
      agrees not to disclose the contents of this Agreement to anyone except
      Employee’s attorneys, if any, provided they agree to this confidentiality
      clause.

            

    

     

    
      	
              2.14.  

            	
              Employee
      agrees that Employee will be responsible for Employee’s own attorneys’
      fees incurred in connection with the negotiation, preparation and
      execution of this Agreement and that Employee unconditionally releases and
      discharges Employer from any claim for such attorneys’ fees incurred by
      Employee or on Employee’s behalf.

            

    

     

    
      	
              2.15.  

            	
              Employee
      agrees and acknowledges that this Agreement does not constitute an
      admission by Employer of any violation of any federal, state, or local
      statue or regulation, or any violation of any of Employee’s rights or of
      any duty owed by Employer to
Employee.

            

    

     

    
      
         

      

      
        - 3
-

        
          

        

      

      
         

      

    

    
      	
              2.16.  

            	
              Employee
      confirms and agrees that Employee is responsible for any income or other
      taxes owed by Employee or required by all applicable laws, statutes,
      regulations or orders of the U.S. Internal Revenue Service (the “IRS”) to
      be withheld or deducted related to the Stock Based Compensation and the
      50,965 shares of China Direct, Inc.’s common stock previously issued to
      Employee (the “Withholding Taxes”). In this regard, Employee shall, upon
      receipt of the Stock Based Compensation and expiration of the Revocation
      Period, pay Employer the sum of $4,781.28 reflecting Employee’s portion of
      Social Security and Medicare withholding taxes which Employer will remit
      to the IRS on behalf of Employee.  In the event that the IRS
      challenges the amount or Employer’s failure to withhold and pay the
      Withholding Taxes and the IRS determines by way of assessment,
      reassessment or otherwise that the Withholding Taxes are not correct, then
      (ii) Employee shall pay directly to the IRS any withholding taxes owing by
      Employee in excess of the Withholding Taxes paid by Employee to Employer,
      and (iii) Employee shall indemnify Employer for any withholding taxes due,
      assessments, interest and penalties imposed by the IRS in respect of the
      late payment of such withholding taxes by Employer on behalf of Employee
      plus all legal and accounting fees incurred by Employer in connection
      therewith provided that Employer shall provide Employee, in a timely
      manner, with copies of all assessments, reassessments or other
      communications by the IRS to Employer related
  thereto.

            

    

     

    
      	
              3.  

            	
              Representations
      of Employee.

            

    

     

    
      	
              3.1.  

            	
              Employee
      hereby acknowledges that Employee is aware that the United States
      securities laws prohibit any person who has material, nonpublic
      information concerning Employer from purchasing or selling securities of
      Employer or from communicating such information to any other person under
      circumstances in which it is reasonably foreseeable that such person is
      likely to purchase or sell such securities. Furthermore, Employee hereby
      represents that Employee has not purchased or sold any securities of
      Employer through the date hereof in violation of any state or federal
      securities laws.

            

    

     

    
      	
              4.  

            	
              Opportunity
      to Review and Right of
Revocation.

            

    

     

    
      	
              4.1.  

            	
              Employee
      acknowledges that Employer advised Employee of Employee’s right to
      consider the terms of this Agreement for 21 days after its delivery, and
      Employee, after consulting counsel, hereby irrevocably waives that
      right.

            

    

     

    
      	
              4.2.  

            	
              Pursuant
      to federal law, this Agreement is revocable by Employee for seven days
      following Employee's execution of the Agreement ("Revocation
      Period").  To be effective, such revocation must be in writing
      signed by the Employee and must be delivered to the General Counsel of the
      Company before 11:59 p.m., on the last day of the Revocation
      Period.  If an effective revocation is delivered in the
      foregoing manner and timeframe, this Agreement shall be of no force or
      effect and shall be null and void ab initio.  Employee
      understands that if Employee revokes this Agreement, Employee will lose
      all benefits of this Agreement. The promises of Employer in this Agreement
      will go into effect only if Employee has not revoked the Agreement within
      the Revocation Period.

            

    

     

    
      	
              5.  

            	
              Miscellaneous.

            

    

     

    
      	
              5.1.  

            	
              Employee
      agrees that Employee shall not make any disparaging, denigrating, critical
      or untrue statements (public or private) about Employer, its management or
      about any other employee of Employer, its products, customers, clients,
      suppliers, business or prospects.  It is agreed and understood
      that any breach of this paragraph by Employee would be
      material.

            

    

     

    
      
         

      

      
        - 4
-

        
          

        

      

      
         

      

    

    
      	
              5.2.  

            	
              Employer
      agrees that it shall not make any disparaging, denigrating, critical or
      untrue statements (public or private) about Employee.  It is
      agreed and understood that any breach of this paragraph by Employer would
      be material.

            

    

     

    
      	
              5.3.  

            	
              Employee
      acknowledges and warrants that Employee has had the opportunity to and
      been advised to obtain independent legal advice regarding Employee’s
      duties, obligations and responsibilities under this Agreement and has been
      advised of each and every legal right and obligation enumerated within or
      arising out of this Agreement or has voluntarily declined same. . Employee
      acknowledges his understanding that this Agreement and any Form 4 filed by
      Employee related to the issuance of the Stock Based Compensation was
      prepared at the request of Employer by Lazarus Rothstein, Esq., its
      general counsel and that Mr. Rothstein did not represent Employee in
      conjunction with this Agreement or the preparation and filing of the Form
      4.

            

    

     

    This
Agreement shall be interpreted and enforced in accordance with the laws of the
State of Florida. Each of the parties submits to the jurisdiction of any
provincial or federal court sitting in Broward County, Florida, in any action or
proceeding arising out of or relating to this Agreement and agrees that all
claims in respect of the action or proceeding may be heard and determined by any
such court. Each party also agrees not to bring any action or proceeding arising
out of or relating to this Agreement in any other court. Each of the parties
waives any defense of inconvenient forum to the maintenance of any action or
proceeding so brought and waives any bond, surety, or other security that might
be required of any other party with respect thereto.

     

    
      	
              5.4.  

            	
              This
      Agreement and the agreements referenced herein represent the sole and
      entire agreement between the parties and supersedes any and all prior
      agreements, negotiations, and discussions between the parties or their
      respective counsel with respect to the subject matters covered in this
      Agreement.

            

    

     

    
      	
              5.5.  

            	
              Notwithstanding
      the foregoing, the parties agree that the any and all prior offer letters
      and agreements between the parties shall be terminated effective on the
      date of this Agreement and none of provisions thereunder shall
      survive.

            

    

     

    
      	
              5.6.  

            	
              If
      either party initiates proceedings for the other's breach of this
      Agreement, the prevailing party shall recover attorneys' fees and costs,
      including such fees and costs on any enforcement or appeal
      proceedings.

            

    

     

    
      	
              5.7.  

            	
              If
      one or more paragraphs of this Agreement are ruled invalid or
      unenforceable, such invalidity or unenforceability shall not affect any
      other provision of the Agreement, which shall remain in full force and
      effect.

            

    

     

    
      	
              5.8.  

            	
              This
      Agreement may be modified only by a writing signed by both
      parties.

            

    

     

    
      	
              5.9.  

            	
              Both
      parties agree that, unless required by law or by a court of competent
      jurisdiction, this Agreement shall remain confidential and will not be
      used for any purpose other than enforcing its specific terms in any
      proceeding between the parties. If this document must be filed in any
      court proceeding, the person seeking to file it will do so only under
      seal, unless expressly prohibited by the
court.

            

    

     

    
      	
              5.10.  

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

            

    

     

    
      	
              5.11.  

            	
              The
      term “Employer” refers to China Direct, Inc., a Florida corporation, any
      or all current or former affiliated corporations, parent corporations,
      partnerships, divisions, related companies and subsidiaries, and the
      officers, directors, shareholders, employees, agents, attorneys,
      successors and assigns of the
Employer.

            

    

     

    
      
         

      

      
        - 5
-

        
          

        

      

      
         

      

    

    

     

    IN
WITNESS WHEREOF, Employee and Employer have agreed upon and signed this
Agreement as of the date set forth below.

     

    
      
        	
                EMPLOYEE:

                 

                 

                Sign
      /s/ I. Andrew
      Weeraratne

                       I.
      Andrew Weeraratne

                 

                Date:
      May 22, 2009

              	
                EMPLOYER:

                CHINA
      DIRECT, INC.

                 

                By:
      /s/ Lazarus
      Rothstein

                Lazarus
      Rothstein

                Its:
      Executive Vice President and General Counsel

                 

                Date:
      May 22, 2009

                 

              

      

    

    
      
         

      

      
        - 6
-

        
          

        

      

      
         

      

    

    

    

    May 22,
2009

    

    

    China
Direct, Inc.

    China
Direct Investments, Inc.

    CDI
China, Inc.

    431
Fairway Drive, Suite 200

    Deerfield
Beach, FL 33441

    

    Gentlemen:

    

    This
letter confirms that I hereby resign from all offices that I hold at China
Direct, Inc., China Direct Investments, Inc. and CDI China, Inc. (the
“Companies”) effective immediately.  My resignation is not the result
of any disagreement with any of the Companies on any matter relating to their
operations, policies (including accounting or financial policies) or
practices.

    

    Sincerely,

    

    

    

    I. Andrew Weeraratne

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