Document:

Exhibit
      10.8

    Chardan
      North China Acquisition Corporation

    625
      Broadway, Suite 1111

    San
      Diego, CA 92101

    

    

    May
      16,
      2006

    

    

    Continental
      Stock Transfer & Trust Company

    17
      Battery Place

    New
      York,
      NY 10004

    Attn:
      Steven G. Nelson

    

    EarlyBirdCapital,
      Inc.

    275
      Madison Avenue, Suite 1203

    New
      York,
      NY 10016

    Attn:
      David M. Nussbaum, Chairman

    

    Re:     Investment
      Management Trust Agreement

    

    Gentlemen:

    

    Reference
      is made to that certain Investment Management Trust Agreement (the “Agreement”),
      dated as of August 2, 2005, between Chardan North China Acquisition Corporation
      (“Company”) and Continental Stock Transfer & Trust Company. Section 1(c) is
      hereby deleted in its entirety and replaced with the following:

    

    “(c)
      In a
      timely manner, upon the instruction of the Company, to invest and reinvest
      the
      Property in United States “Government Securities” with the meaning of Section
      2(a)(16) of the Investment Company Act of 1940 having a maturity of 180 days
      or
      less, and/or in any open ended investment company registered under the
      Investment Company Act of 1940 that holds itself out as a money market fund
      selected by the Company meeting the conditions of paragraphs (c)(2), (c)(3)
      and
      (c)(4) of Rule 2a-7 promulgated under the Investment Company Act of 1940; as
      determined by the Company;”

    

    Except
      as
      indicated above, the Agreement shall remain in full force and
      effect.

     

    
 

    
      	 	 	 
	 	
              CHARDAN
                NORTH CHINA ACQUISITION

              CORPORATION

            
	 
 	 
 	 
 
	 	By:  	/s/ Richard
              Propper
	 	
              

            
	 	
              Name: Richard
                Propper

              Title: Chairman

            

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
 

    Acknowledged
      and agreed this 16 day of May, 2006

    

    

    CONTINENTAL
      STOCK TRANSFER &

    TRUST
      COMPANY

    

    

    
      	 	 	 	 
	By:
              /s/ Steven Nelson	 	 	 
	
              

            	 	 	
            
	
              Name: Steven
                Nelson

              Title: Chairman

            	 	 	 

     

     

    The
      undersigned is required to consent to this amendment pursuant to Section 5(c)
      of
      the Investment Management Trust Agreement and hereby does so.

     

     

    EARLYBIRDCAPITAL,
      INC.

     

    
      	 	 	 	 
	By:
              /s/ Steven Levine	 	 	 
	
              

            	 	 	
            
	
              Name:
                Steven Levine

              Title: PresidentAGREEMENT

      THIS AGREEMENT ("Agreement") is made and entered into as of April 1, 2006,
by and among Edward Lynch, an individual  ("Lynch"),  Keith Yates, an individual
("Yates")  (Lynch  and  Yates  together,  the  "Shareholders"),  and  Industrial
Electric Services, Inc., a Florida Corporation ("IES").

                                 R E C I T A L S

      Shareholders and IES desire to wind up the business of IES, subject to the
terms and conditions hereinafter set forth.

      NOW, THEREFORE, the parties agree as follows:

                                A G R E E M E N T

      1.  Incorporation  of Recitals.  The foregoing  Recitals are  incorporated
herein by this reference.

      2.   Transfer  of  Assets,   Payoff  of  Related  Debt  and  Release  From
Non-solicitation/Non-Compete Agreement.

IES transfers to Yates the following assets ("Assets"):

            o     The name  "Industrial  Electric  Services" for use in Kentucky
                  only.

            o     The tangible assets set forth on Schedule 2.A attached hereto.

            o     The right to collect  invoices for Job 44 of $1,870 and Job 52
                  of $3,100,  which were  recorded  in  allowance  for  doubtful
                  accounts  of  IES  3/31/06  financial  statements.  All  other
                  accounts  receivable  shall  be  collected  and  all  accounts
                  payable shall be paid as of June 30, 2006.

Yates shall assume and pay off two truck loans with Huntington Bank and Chrysler
Financial.

IES    releases    Yates   from   the   terms   of   any   valid   and   binding
non-solicitation/compete agreement or understanding with IES.

      3. Effective Date

The effective  date of this  Agreement  shall be April 1, 2006 as reflecting the
intent of the parties as of said date,  nothwithstanding  the subsequent date of
formal execution hereof.  All prior agreements  concerning these matters between
the parties are supersceded.

      4. Miscellaneous.

            4.1 Cumulative Remedies. Subject to Section 8, any person having any
rights under any  provision of this  Agreement  will be entitled to enforce such
rights specifically, to recover damages by reason of any breach of any provision
of this Agreement, and to exercise all other rights granted by law, which rights
may be exercised cumulative and not alternatively.

                                       1
<PAGE>

            4.2 Successors and Assigns.  Except as otherwise  expressly provided
herein, all covenants and agreements contained in this Agreement by or on behalf
of  any of the  parties  hereto  will  bind  and  inure  to the  benefit  of the
respective  successors and assigns of the parties hereto whether so expressed or
not.

            4.3  Severability.   Whenever  possible,   each  provision  of  this
Agreement  will be interpreted in such manner as to be effective and valid under
applicable  law, but if any provision of this Agreement is held to be prohibited
by or invalid under  applicable law, such provision will be ineffective  only to
the extent of such prohibition or invalidity, without invalidating the remainder
of this Agreement or the other documents.

            4.4  Counterparts.  This  Agreement  may be  executed in two or more
counterparts,  any one of which need not contain the signatures of more than one
party, but all such counterparts when taken together will constitute one and the
same agreement.

            4.5  Notices.  Any  approvals,   consents  or  notices  required  or
permitted  to be sent or given  shall be  delivered  in  writing  personally  or
mailed,  certified mail, return receipt requested, to the addresses provided IES
and shall be deemed to have been received within five days after such mailing.

            4.6  Litigation  Costs.  If any legal action or other  proceeding is
brought for the enforcement of this Agreement, or because of an alleged dispute,
breach,  default, or  misrepresentation in connection with any of the provisions
thereof,  the  successful  or  prevailing  party or parties shall be entitled to
recover  reasonable  attorneys'  fees and other costs incurred in that action or
proceeding, in addition to any other relief to which it or they may be entitled.

            4.7  Entire  Agreement.  This  Agreement,  and the other  agreements
specifically   referred  to  herein,   constitute   the  entire   agreement  and
understanding  of the parties with respect to the subject  matter  thereof,  and
supersede all prior and contemporaneous agreements and understandings.

            4.8 Governing Law; Venue. This Agreement Kentucky be governed by and
interpreted  and construed in accordance with the laws of the State of Kentucky,
without  regard to the conflict of law  principles  thereof.  Any action brought
under  this  Agreement  shall be  brought  in a state or  Federal  court  having
competent subject matter jurisdiction and located in the City of Lexington KY in
accordance with the applicable procedure therefore.

            4.9  Injunctive  Relief.  The  parties  agree  that a breach of this
Agreement may cause the IES irreparable  harm for which monetary damages are not
adequate. In addition to all other available legal remedies,  the IES shall have
the right to injunctive relief to enforce this Agreement.

            4.10  Survival.  All  representations  and  warranties  made  by the
parties in connection with this Agreement shall survive the Closing.

            IN  WITNESS  WHEREOF,  each of the  parties  to this  Agreement  has
executed  or caused  this  Agreement  to be  executed as of the date first above
written.

                            [Signature Page Follows]

                                       2
<PAGE>

EDWARD LYNCH

______________________________________

KEITH YATES

______________________________________

INDUSTRIAL ELECTRIC SERVICES, INC.,
a Florida Corporation

By: __________________________________

Its: _________________________________

                                       3AMENDMENT AGREEMENT

      This AMENDMENT AGREEMENT,  dated as of August 10, 2006 (this "Agreement"),
between NATIONAL  INVESTMENT  MANAGERS INC., a Florida  corporation  (f/k/a Fast
Eddie Racing  Stables,  Inc.)(the  "Company"),  and LAURUS MASTER FUND,  LTD., a
Cayman  Islands  company  ("Laurus").  Capitalized  terms  used  herein  without
definition  shall have the  meanings  ascribed to such terms in (i) that certain
Securities  Purchase  Agreement,  dated as of March 9, 2005,  by and between the
Company and Laurus (together with the Related Agreements referred to therein, as
amended,  modified  or  supplemented  from time to time,  the  "March  2005 Loan
Documents"),  (ii)  that  certain  Securities  Purchase  Agreement,  dated as of
November  30,  2005,  by and between the Company and Laurus  (together  with the
Related  Agreements  referred to therein,  as amended,  modified or supplemented
from time to time,  the  "November  2005 Loan  Documents"),  (iii) that  certain
Securities  Purchase  Agreement,  dated as of May 30,  2006,  by and between the
Company and Laurus (together with the Related Agreements referred to therein, as
amended,  modified  or  supplemented  from  time to  time,  the "May  2006  Loan
Documents"),  or (iv) that certain  Amended and Restated and Amended  Agreement,
dated as of  November  30,  2005,  by and  between  the  Company  and Laurus (as
amended,  modified or supplemented from time to time, the "Amended  Registration
Rights  Agreement")  and,  together  with the March 2005 Loan  Documents and the
November 2005 Loan Documents, the "Loan Documents"), as applicable.

      WHEREAS,  reference is made to the following Related Agreements:  (i) that
certain Secured  Convertible  Term Note, dated as of March 9, 2005 and issued by
the  Company to Laurus (as  amended,  modified  and/or  supplemented,  the "Term
Note");  (ii) that certain Common Stock Purchase  Warrant,  dated as of March 9,
2005  and  issued  by  the  Company  to  Laurus  (as  amended,  modified  and/or
supplemented, the "2005 Warrant"); (iii) that certain Common Stock Option, dated
as of March 9, 2005 and issued by the  Company to Laurus (as  amended,  modified
and/or  supplemented,  the  "Option");  and (iv) (ii) that certain  Common Stock
Purchase  Warrant,  dated as of May 30, 2006 and issued by the Company to Laurus
(as amended, modified and/or supplemented, the "2006 Warrant");

      WHEREAS,  Laurus and the Company wish to enter into to certain  amendments
related to the Loan Documents;

      NOW,  THEREFORE,  in  consideration  of the above,  and for other good and
valuable  consideration,   the  receipt  and  sufficiency  of  which  is  hereby
acknowledged, each of the Company and Laurus agree as follows:

      1. The Company and Laurus  hereby  agree that Section 3.2 of the Term Note
is hereby amended to read in it's entirety as follows:

<PAGE>

      "3.2 Conversion Limitation.  Notwithstanding  anything contained herein to
the contrary,  the Holder shall not be entitled to convert pursuant to the terms
of this Note an amount that would be convertible  into that number of Conversion
Shares  which  would  exceed  the  difference  between  4.99% of the  issued and
outstanding  shares of Common  Stock  and the  number of shares of Common  Stock
beneficially  owned by such Holder or issuable upon exercise of Warrants held by
such Holder. For the purposes of the immediately preceding sentence,  beneficial
ownership  shall be determined in accordance  with Section 13(d) of the Exchange
Act and Regulation 13d-3 thereunder."

      2. The Company and Laurus hereby agree that Section 10 of the 2005 Warrant
is hereby amended to read in it's entirety as follows:

      "10. Maximum  Exercise.  The Holder shall not be entitled to exercise this
Warrant on an exercise date, in connection  with that number of shares of Common
Stock  which would be in excess of the sum of (i) the number of shares of Common
Stock  beneficially  owned by the Holder and its affiliates on an exercise date,
and (ii) the number of shares of Common Stock issuable upon the exercise of this
Warrant with respect to which the determination of this proviso is being made on
an exercise date,  which would result in beneficial  ownership by the Holder and
its affiliates of more than 4.99% of the  outstanding  shares of Common Stock of
the Company on such date.  For the  purposes  of the proviso to the  immediately
preceding sentence,  beneficial ownership shall be determined in accordance with
Section 13(d) of the Securities Exchange Act of 1934, as amended, and Regulation
13d-3 thereunder."

      3. The Company and Laurus  hereby  agree that  Section 10 of the Option is
hereby amended to read in it's entirety as follows:

      "10. Maximum  Exercise.  The Holder shall not be entitled to exercise this
Option on an exercise  date, in connection  with that number of shares of Common
Stock  which would be in excess of the sum of (i) the number of shares of Common
Stock  beneficially  owned by the Holder and its affiliates on an exercise date,
and (ii) the number of shares of Common Stock issuable upon the exercise of this
Option with respect to which the  determination of this proviso is being made on
an exercise date,  which would result in beneficial  ownership by the Holder and
its affiliates of more than 4.99% of the  outstanding  shares of Common Stock of
the Company on such date.  For the  purposes  of the proviso to the  immediately
preceding sentence,  beneficial ownership shall be determined in accordance with
Section 13(d) of the Securities Exchange Act of 1934, as amended, and Regulation
13d-3 thereunder."

      4. The Company and Laurus hereby agree that Section 10 of the 2006 Warrant
is hereby amended to read in it's entirety as follows:

      "10. Maximum Exercise. Notwithstanding anything herein to the contrary, in
no event shall the Holder be entitled to exercise any portion of this Warrant in
excess of that portion of this Warrant upon exercise of which the sum of (1) the
number of  shares  of Common  Stock  beneficially  owned by the  Holder  and its
Affiliates  (other than shares of Common Stock which may be deemed  beneficially
owned  through the  ownership of the  unexercised  portion of the Warrant or the
unexercised or  unconverted  portion of any other security of the Holder subject
to a limitation on conversion analogous to the limitations contained herein) and
(2) the  number of shares of Common  Stock  issuable  upon the  exercise  of the
portion of this Warrant with respect to which the  determination of this proviso
is being  made,  would  result in  beneficial  ownership  by the  Holder and its
Affiliates of any amount  greater than 4.99% of the then  outstanding  shares of
Common Stock (whether or not, at the time of such  exercise,  the Holder and its
Affiliates  beneficially own more than 4.99% of the then  outstanding  shares of
Common Stock).  As used herein,  the term "Affiliate" means any person or entity
that, directly or indirectly through one or more intermediaries,  controls or is
controlled by or is under common control with a person or entity,  as such terms
are used in and construed  under Rule 144 under the Securities Act. For purposes
of the proviso to the second preceding sentence,  beneficial  ownership shall be
determined in accordance  with Section 13(d) of the  Securities  Exchange Act of
1934, as amended, and Regulations 13D-G thereunder, except as otherwise provided
in clause (1) of such proviso."

                                       2
<PAGE>

      5. The  definition  of  "Effectiveness  Date in the  Amended  Registration
Rights Agreement, is hereby amended to read in its entirety as follows:

      "Effectiveness  Date" means (i) with  respect to the initial  Registration
Statement  required to be filed  hereunder,  a date no later than  September 15,
2006 and (ii) with respect to each additional Registration Statement required to
be  filed  hereunder,  a date no later  than  thirty  (30)  days  following  the
applicable Filing Date.

      6. The  amendments  and waivers set forth  herein shall be effective as of
the date first above written (the "Effective Date") on the date when each of the
Company and Laurus shall have executed and the Company  shall have  delivered to
Laurus its respective counterpart to this Agreement.

      7. Except as specifically set forth in this Agreement,  there are no other
amendments, modifications or waivers to the Loan Documents, and all of the other
forms,  terms and  provisions  of the Loan  Documents  remain in full  force and
effect.

      8. The Company hereby  represents and warrants to Laurus that (i) no Event
of  Default  exists  on  the  date  hereof,   (ii)  on  the  date  hereof,   all
representations, warranties and covenants made by the Company in connection with
the Loan Documents are true,  correct and complete and (iii) on the date hereof,
all of the Company's covenant requirements have been met.

      9. From and after the Effective Date, all references in the Loan Documents
shall be deemed to be references to the Loan Documents as modified hereby.

      10. The Company  hereby agrees to file an 8-K,  completed as  appropriate,
with the Securities and Exchange Commission  disclosing the terms and conditions
set forth in this Agreement as soon as practicable, but no later than the fourth
(4th) business day following the date hereof.

                                       3
<PAGE>

      11. This  Agreement  shall be binding  upon the  parties  hereto and their
respective  successors  and permitted  assigns and shall inure to the benefit of
and be  enforceable  by each  of the  parties  hereto  and  its  successors  and
permitted assigns.  THIS AGREEMENT SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE
WITH AND  GOVERNED BY THE LAW OF THE STATE OF NEW YORK.  This  Agreement  may be
executed in any number of counterparts,  each of which shall be an original, but
all of which shall constitute one instrument.

                                       4
<PAGE>

      IN WITNESS  WHEREOF,  each of the  Company  and  Laurus  has  caused  this
Agreement signed in its name effective as of the first date set forth above.

                                                      NATIONAL INVESTMENT
                                                      MANAGERS INC.

                                                      By:/s/ Leonard Neuhaus
                                                         ---------------------
                                                         Name: Leonard Neuhaus
                                                         Title: CFO/COO

                                                      LAURUS MASTER FUND, LTD.

                                                      By:/s/Eugene Grin
                                                         ---------------------
                                                      Name: Eugene Grin
                                                      Title: Director

                                       5

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