Document:

Unassociated Document

    

      
        Exhibit
10.13

      

      

      
        Form
of Lock-Up Agreement

      

      

      
        July __,
2010

      

       

      
        Brean
Murray, Carret & Co., LLC

      

      570 Lexington
Avenue

      New York,
NY 10022

      

      Ladies
and Gentlemen:

       

      The
undersigned understands that Brean Murray, Carret & Co., LLC, as
representative for the underwriters (“Brean Murray”) proposes to
enter into an Underwriting Agreement (the “Underwriting Agreement”) with
China SLP Filtration Technology, Inc., a Delaware corporation (the “Company”), providing for the
public offering (the “Offering”) by the Company of
shares of common stock, par value $0.001 per share, of the Company (the “Common Stock”).

       

      In
consideration of the foregoing, and in order to induce you and other
underwriters to act as underwriters in the Offering, the undersigned hereby
irrevocably agrees that it will not, without the prior written consent of Brean
Murray for a period of __ days from the date that the Registration Statement
becomes effective (the “Lock-Up
Period”), directly or indirectly, (i) offer, sell (including “short”
selling), assign, transfer, encumber, pledge, register, contract to sell, grant
an option, right or warrant to purchase, establish an open “put equivalent
position” within the meaning of Rule 16a-1(h) under the Securities Exchange Act
of 1934, as amended (the “Exchange Act”), announce the
intention to sell, sell any option or contract to purchase, purchase any option
or contract to sell, or otherwise dispose of any shares of Common Stock or
securities, options or rights convertible or exchangeable into, or exercisable
for, Common Stock held of record or beneficially owned (within the meaning of
Rule 13d-3 under the Exchange Act); or (ii) enter any swap or other arrangement
that transfers all or a portion of the economic consequences associated with the
ownership of any Common Stock; provided, however, that if (1) during the last 17
days of the initial Lock-Up Period, the Company releases earnings results or
material news or a material event relating to the Company occurs or (2) prior to
the expiration of the initial Lock-Up Period, the Company announces that it will
release earnings results during the 16-day period beginning on the last day of
the initial Lock-Up Period, then in either case, the Lock-Up Period will be
extended until the expiration of the 18-day period beginning on the date of
release of the earnings results or the occurrence of the material news or
material event, as applicable, unless Brean Murray waives, in writing, such
extension.

       

      The
undersigned agrees that, prior to engaging in any transaction or taking any
other action that is subject to the terms of this agreement during the period
from and including the date that the Registration Statement becomes effective
through and including the 34th day following the expiration of the 90-day
period, the undersigned will give prior notice thereof to the Company and will
not consummate any such transaction or take any such action unless it has
received written confirmation from the Company that the Lock-Up Period (as the
same may have been extended pursuant to the previous paragraph) has
expired.

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      The
undersigned further agrees that it will not, during the Lock-Up Period, make any
demand or request for or exercise any right with respect to the registration of
any shares of Common Stock or any securities convertible into or exercisable or
exchangeable for Common Stock.  Notwithstanding anything to the
contrary contained herein Brean Murray acknowledges and agrees that the shares
set forth in Exhibit A are being registered for resale pursuant to the
Registration Statement.

      

      Notwithstanding
the foregoing, the undersigned may transfer any shares of Common Stock or
securities convertible into or exchangeable or exercisable for the Company’s
Common Stock either during his or her lifetime or on death by will or intestacy
to his or her immediate family or to a trust the beneficiaries of which are
exclusively the undersigned and/or a member or members of his or her immediate
family, or if the undersigned is a corporation, company, business trust,
association, limited liability company, partnership, limited liability
partnership, limited liability limited partnership or other entity
(collectively, the “Entities” or, individually,
the “Entity”), the
undersigned may transfer shares of Common Stock to any Entity which is directly
or indirectly controlled by the undersigned; provided, however, that, prior
to any such transfer, each transferee shall execute an agreement, satisfactory
to Brean Murray pursuant to which each transferee shall agree to receive and
hold such shares of Common Stock, or securities convertible into or exchangeable
or exercisable for the Common Stock, subject to the provisions hereof, and there
shall be no further transfer except in accordance with the provisions
hereof.  For the purposes of this paragraph, “immediate family” shall mean
spouse, lineal descendant, father, mother, brother or sister of the
transferor.  In addition, for the avoidance of doubt, nothing in this
agreement shall restrict the ability of the undersigned to purchase shares of
Common Stock on the open market or exercise any option to purchase shares of
Common Stock granted under any benefit plan of the Company.

       

      The
undersigned hereby waives any rights of the undersigned to sell shares of Common
Stock or any other security issued by the Company pursuant to the Registration
Statement.  The undersigned also hereby waives any notice requirement
concerning the Company’s intention to file the Registration Statement and sell
shares of Common Stock thereunder.

       

      The
undersigned agrees and consents to the entry of stop transfer instructions with
the Company’s transfer agent against the transfer of Common Stock, or securities
convertible into or exchangeable or exercisable for the Common Stock, held by
the undersigned except in compliance with this agreement.

       

      The
undersigned understands that the agreements of the undersigned are irrevocable
and shall be binding upon the undersigned’s heirs, legal representatives,
successors and assigns.

       

      The
undersigned understands and agrees that Brean Murray shall have the right to
specifically enforce all of the obligations of the undersigned under this
agreement (without posting a bond or other security), in addition to recovering
damages by reason of any breach of any provision of this agreement and to
exercise all other rights granted by law.  Furthermore, the
undersigned recognizes that if it fails to perform, observe, or discharge any of
its obligations under this agreement, any remedy at law may prove to be
inadequate relief to Brean Murray.  Therefore, the undersigned agrees
that Brean Murray shall be entitled to seek temporary and permanent injunctive
relief in any such case without the necessity of proving actual damages and
without posting a bond or other security.

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      The
undersigned understands that the undersigned shall be released from all
obligations under this agreement if (i) the Company or the Underwriters
inform the other in writing that it does not intend to proceed with the
Offering, (ii) the underwriting agreement providing for the offering (the
“Underwriting
Agreement”) does not become effective before December 31, 2010, (iii) the
Underwriting Agreement (other than the provisions thereof which survive
termination) is terminated prior to payment for and delivery of the Common Stock
to be sold thereunder, or (iv) the Offering is not completed by December
31, 2010.

       

      The
undersigned agrees that if any provision of this agreement is held to be invalid
or unenforceable for any reason, such provision will be conformed to prevailing
law rather than voided, if possible, in order to achieve the intent of the
parties and, in any event, the remaining provisions of this agreement shall
remain in full force and effect and shall be binding upon the
undersigned.

       

      The
undersigned agrees that the terms and provisions of this agreement shall be
construed in accordance with the laws of the State of New York and the federal
laws of the United States of America applicable therein.

       

      
        
          
            
              
                
                  	
                          Very
      truly yours,

                        
	 
      
	 
	
                          (Name):

                        
	 
	 
      
	
                          (Address)

                        

                

              

            

          

        

      

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

       

      EXHIBIT
A

       

      
        
          
            
              
                
                  	
                          Name of Selling

                          Stockholder

                        	 	
                          Number of Shares

                          of Common Stock

                          Beneficially Owned

                          Prior to the

                          Offering (1) (2)

                        	 	 	
                          Percentage

                        	 	 	
                          Maximum

                          Number

                          of Shares

                          to be Sold in

                          Offering

                        	 	 	
                          Number of

                          Shares

                          Beneficially

                          Owned

                          after

                          Offering

                        	 	 	
                          Percentage

                        	 
	
                          Newise
      Holdings  Limited

                          PO
      Box 957 Offshore

                          Incorporations
      Center,

                          Road
      Town, Tortola,

                          British
      Virgin Islands

                        	 	 	
                        	 	 	 	
                        	
                        	 	 	
                        	 	 	 	
                        	 	 	 	
                        	
                        
	
                          United
      Best, Room 601,

                          Albion
      Plaza, 2-6 Granville Road,

                          Tsim
      Sha Tsui, Kowloon, Hong Kong

                        	 	 	
                        	 	 	 	
                        	 	 	 	
                        	 	 	 	
                        	 	 	 	
                        	 
	
                          Primary
      Capital LLC,

                           80
      Wall Street,

                          5th
      Floor,

                           New
      York NY 10005

                        	 	 	
                        	 	 	 	
                        	
                        	 	 	
                        	
                        	 	 	
                        	 	 	 	
                        	 
	
                          Ming
      Liu

                          80
      Dianche Street 4th Floor,

                          Daoli
      District, Harbin China

                        	 	 	100,000	 	 	 	*	 	 	 	100,000	 	 	 	0	 	 	 	-	 
	 
      	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
                          Joseph
      Nemelka

                          159
      South 975 West, Mapleton, UT 84664

                        	 	 	
                        	 	 	 	
                        	 	 	 	
                        	 	 	 	
                        	 	 	 	
                        	 
	
                          Ist
      Orion Corp

                          9025
      Oakwood Place, West Jordan, UT 84088

                        	 	 	32,167	 	 	 	*	 	 	 	32,167	 	 	 	0	 	 	 	-	 
	
                          Lorikeet,
      Inc

                          386
      North 210 East, Mapleton, UT 84664

                        	 	 	1,000	 	 	 	*	 	 	 	1,000	 	 	 	0	 	 	 	-	 
	 
      	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
                          Jayhawk
      Private Equity Fund II, LP

                          930
      Tahoe Blvd 802-281

                          InclineVillage,
      NV 89451

                        	 	 	
                        	 	 	 	
                        	
                        	 	 	
                        	 	 	 	
                        	 	 	 	
                        	 
	
                          Blue
      Earth Fund LP

                          1312
      Cedar Street SantaMonica, CA 90405

                        	 	 	
                        	 	 	 	
                        	
                        	 	 	
                        	 	 	 	
                        	 	 	 	
                        	 
	
                          Lumen
      Capital LP

                          265
      West Trail

                          Stamford,
      CT 06903

                        	 	 	
                        	 	 	 	
                        	 	 	 	
                        	 	 	 	
                        	 	 	 	
                        	 
	
                          Trading Systems
      LLC

                          14
      Red Tail Drive,  Highlands Ranch CO 80126

                        	 	 	
                        	 	 	 	 	 	 	 	
                        	 	 	 	 	 	 	 	 	 
	
                          Glenn
      A. Little

                          1103
      Stewart Ave., Suite 200, Garden City, NY 11530

                        	 	 	
                        	 	 	 	 	 	 	 	
                        	 	 	 	 	 	 	 	 	 
	
                          Jeffrey
      Grossman

                          35
      Rochelle Dr.

                          New
      City NY 10956

                        	 	 	
                        	 	 	 	 	 	 	 	
                        	 	 	 	 	 	 	 	 	 
	
                          Grace
      King

                          1235
      Park Ave

                          New
      York, NY 10128

                        	 	 	
                        	 	 	 	 	 	 	 	
                        	 	 	 	 	 	 	 	 	 
	
                          Timothy
      O’Donnell

                          160
      Henry St. Apt.3B, Brooklyn, NY 11201

                        	 	 	
                        	 	 	 	 	 	 	 	
                        	 	 	 	 	 	 	 	 	 
	
                          Sik
      Wing Sung

                          53
      Braisted Avenue,   Staten Island, NY 10314Unassociated Document

    
      EXHIBIT
10.1

       

      FIFTH AMENDMENT TO
EMPLOYMENT AGREEMENT

       

      This
FIFTH AMENDMENT TO EMPLOYMENT AGREEMENT (this “Fifth Amendment”), effective as
of July 1, 2010, is by and among Pharma-Bio Serv, Inc. (PBSV), a Delaware
corporation, and Pharma-Bio Serv PR Inc., a Puerto Rico corporation, having its
principal office at 6 Carr. 696, Dorado, Puerto Rico, 00646 (the “Company”), and
Elizabeth Plaza, with residence in Dorado, Puerto Rico
(“Executive”).

       

      WHEREAS,
the Company and Executive have entered into that certain Employment Agreement,
dated as of January 2, 2008, as such Employment Agreement may be amended,
restated or otherwise modified from time to time (the “Employment
Agreement”).  Capitalized terms used but not defined herein shall have
the meanings ascribed to such terms in the Employment Agreement;
and

       

      WHEREAS,
the Company and Executive have entered into that certain Employment Agreement
Amendment, dated as of June 9, 2008, extending the term of the Employment
Agreement to January 1, 2010 (the “First Amendment”); and

       

      WHEREAS,
the Company and Executive have entered into that certain Employment Agreement
Amendment, effective as of January 1, 2009, amending certain provisions of the
Employment Agreement (the “Second Amendment”); and

       

      WHEREAS,
the Company and Executive have entered into that certain Employment Agreement
Amendment, effective as of February 23, 2009, amending certain provisions of the
Employment Agreement (the  “Third Amendment”); and

       

      WHEREAS,
the Company and Executive have entered into that certain Employment Agreement
Amendment, effective as of January 1, 2010, extending the term of the Employment
Agreement to July 1, 2010 and restoring Section 3 of the Employment Agreement
“Compensation and Other Benefits” in its entirety as originally set forth in the
Employment Agreement (the  “Fourth Amendment”); and

       

      WHEREAS,
the Fourth Amendment incorrectly reflected the date of the Employment Agreement
as January 25, 2006 and the parties desire to properly reflect the date of the
Employment Agreement as January 2, 2008 in the Fourth Amendment;
and

       

      WHEREAS,
the parties desire to extend the term of the Employment Agreement for six (6)
additional months starting on July 1, 2010.

       

      NOW,
THEREFORE, for good and valuable consideration, the receipt and adequacy of
which is hereby acknowledged, the parties hereto agree as follows:

       

      
        	
                1. 

              	
                All
      references to January 25, 2006 in the Fourth Amendment shall be deleted
      and shall be replaced with January 2,
2008.

              

      

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

       

      
        	
                2. 

              	
                The
      Employment Agreement shall be modified to extend Executive's employment
      term for six (6) additional months starting on July 1,
    2010.

              

      

       

      
        	
                3. 

              	
                In
      all other respects the Employment Agreement dated January 2, 2008, shall
      remain in full force and effect and
unaltered.

              

      

       

      
        	
                4. 

              	
                Miscellaneous
      Provisions.

              

      

       

      a)           No Other
Amendments.  Except as explicitly amended by the terms of the
First Amendment, Second Amendment, Third Amendment, Fourth Amendment and this
Fifth Amendment, the terms of the Employment Agreement shall remain in effect
and are unchanged by this Fifth Amendment.

       

      b)           Entire
Agreement.  The Employment Agreement, as amended by the First
Amendment, Second Amendment, Third Amendment, Fourth Amendment and this Fifth
Amendment, constitutes the entire agreement among the parties with respect to
the subject matter hereof and supersedes all other prior agreements and
understandings, both written and oral, among the parties with respect to the
subject matter hereof.

       

      c)           Governing
Law.  This Fifth Amendment shall be governed by and construed
in accordance with the laws of the Commonwealth of Puerto Rico, without giving
effect to any choice of law or conflict of law provision or rule (whether of the
Commonwealth of Puerto Rico or any other jurisdiction) that would cause the
application of the law of any jurisdiction other than the Commonwealth of Puerto
Rico.

       

      d)           Parties in
Interest.  This Fifth Amendment shall be binding upon and inure
solely to the benefit of each party and its successors and permitted assigns
and, nothing in this Fifth Amendment, express or implied, is intended to or
shall confer upon any other person any rights, benefits or remedies of any
nature whatsoever under or by reason of this Fifth Amendment.

       

      e)           Counterparts.  This
Fifth Amendment may be executed in one or more counterparts, each of which shall
be deemed to be an original, but all of which shall constitute one and the same
agreement.  Delivery of an executed counterpart of a signature page to
this Fifth Amendment by facsimile shall be effective as delivery of a mutually
executed counterpart to this Fifth Amendment.

       

      IN
WITNESS WHEREOF, the parties hereto have caused this Fifth Amendment to
Employment Agreement to be duly executed as of the day and year first above
written.

       

      PHARMA-BIO
SERV, INC.

      

       

      /s/ Kirk
Michel                                                                  

      Name:
Kirk Michel

      Title:  Chairman
of Compensation Committee

       

      EXECUTIVE

       

       

      /s/ Elizabeth
Plaza                                                             

      Elizabeth
Plaza

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