Document:

Unassociated Document

     

    
      EMPLOYMENT
AGREEMENT

      

      This
EMPLOYMENT AGREEMENT is
made on March 30, 2009  BETWEEN

      

      
        
          	
                  1. 

                	
                  China
      Architectural Engineering Inc., (“the Company”), of 63/F.,
      Bank of China Tower, 1 Garden Road, Central, Hong Kong;
  and

                

        

      

      

      
        
          	
                  2. 

                	
                  Li
      Chengcheng, (“the
      Employee”) holder of Chinese Passport No. G21075206 of Suite 2208,
      West Wing, Fancy Garden, 6 Xibahe Road Sth, Chaoyang District, Beijing
      100028, China.

                

        

      

      

      NOW
IT IS HEREBY AGREED AS FOLLOWS

      

      
        
          	
                  1 

                	
                  Employment
      Terms

                

        

      

       

      
        
          	
                	
                  1.1

                	
                  The
      Company employs the Employee in the position of Chief Financial Officer
      working principally at its Hong Kong office. As Chief Financial Officer,
      he will be required to travel outside Hong Kong from time to time
      including to the Company’s branch offices when
  required.

                

        

      

       

      
        
          	
                	
                  1.2 

                	
                  The
      employment of the Employee commenced as of 30 March 2009.  The
      monthly salary associated with this agreement shall be calculated from
      this commencement date of employment. If the Employee requires an
      employment visa to work in Hong Kong, he will not perform work in Hong
      Kong until such time as a visa is obtained. As long as such visa is not
      successfully obtained the Company may terminate the employment in
      accordance with clause 14.1.

                

        

      

       

      
        
          	
                	
                  1.3 

                	
                  The
      Employee is required to undergo a probation period of three months. The
      Company reserves the right to extend the probation period if it considers
      necessary.

                

        

      

       

      
        
          	
                	
                  1.4 

                	
                  During
      the first month of probation, either party may terminate the employment
      without notice or payment in lieu. During the remainder of probation,
      either party may terminate the employment by giving seven days' notice or
      payment in lieu. After satisfactory completion of the probationary period,
      either party may terminate the employment by giving two month’s notice or
      payment in lieu.

                

        

      

       

      
        
          	
                  2 

                	
                  Duties

                

        

      

       

      
        
          	
                	
                  2.1 

                	
                  The
      duties of the Employee include the normal duties of Chief Financial
      Officer as directed by the Company and any other duties which the Company
      may assign upon him to perform from time to time. The Employee shall
      exercise such powers, perform such duties and comply with such directions
      in relation to the business of the Company and/or any other Group Company
      as the Board may, from time to time, confer upon or assign or give to him.
      The Employee will in particular be responsible for, but not limited to,
      all of the Company's financing matters and also the management of the
      Company’s finance department.

                

        

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
        
          	
                	
                  2.2 

                	
                  The
      Employee shall work in such places and occupy himself in such a manner as
      the Company shall direct and he will not either directly or indirectly
      engage or be concerned in any other services or business whatsoever or
      receive commissions or profits of any kind. He shall devote the whole of
      his time and attention during working hours to the service of the Company
      and the Group Companies and shall use his do his utmost to promote and
      protect the interests of the Company and the
  Group.

                

        

      

       

      
        
          	
                	
                  2.3 

                	
                  The
      Employee shall at all times promptly give to the Board (in writing if so
      requested) all such information, explanations and assistance as it may
      require in connection with the business of the Company and/or any other
      Group Company with which the Employee is required by the Company to be
      concerned with.

                

        

      

       

      
        
          	
                	
                  2.4 

                	
                  The
      Employee will comply with all relevant ordinances and regulations of the
      Hong Kong Special Administrative Region. He will also comply with all of
      the Company’s circulars and departmental instructions in so far as the
      same are applicable.

                

        

      

       

      
        
          	
                  3 

                	
                  Directorships

                

        

      

       

      
        
          	
                	
                  3.1 

                	
                  The
      Employee shall accept appointment as a director or other officer of the
      Company, any other Group Company and/or other company as the Board may
      require from time to time. He shall resign without claim for compensation
      from such directorship or office at any time on request by the Company and
      such resignation shall not affect the continuance in any way of this
      agreement.  The Employee shall immediately account to the
      Company for any director's fees or other emoluments, remuneration or
      payments either receivable or received by him by virtue of his holding
      such directorship or office (or waive any right to the same if so required
      by the Company).

                

        

      

       

      
        
          	
                	
                  3.2 

                	
                  In
      the event of the termination of his employment, the Employee shall, upon
      the request of the Company, resign without claim for compensation from any
      directorships or any other office which he holds pursuant to clause 3.1
      above.

                

        

      

       

      
        
          	
                	
                  3.3 

                	
                  Should
      the Employee fail to resign from any directorship or any other office when
      so requested by the Company, the Company is irrevocably authorised to
      appoint a person in his name and on his behalf to execute any documents
      and to do all things required to give effect to the
      resignation.

                

        

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
        
          	
                  4 

                	
                  Remuneration

                

        

      

       

      
        
          	
                	
                  4.1 

                	
                  Salary

                

        

      

       

      
        
          	
                	
                  4.1.1 

                	
                  The
      Employee's salary will initially be USD 120,000 per annum.  This
      salary includes any director's fees payable to the Employee. The
      Employee's salary is expected to be reviewed every two years. The Company
      may adjust the Employee's remuneration up or down as it considers
      appropriate.

                

        

      

       

      
        
          	
                	
                  4.1.2 

                	
                  Salary
      will be paid in Hong Kong by equal monthly instalments around the end of
      each calendar month, by cheque during probationary period and thereafter
      via appointed Bank Autopay system into an account nominated by the
      Employee.

                

        

      

       

      
        
          	
                	
                  4.2 

                	
                  Bonus

                

        

      

       

      
        
          	
                	
                  4.2.1 

                	
                  The
      Employee may be entitled to a sign-on bonus of US$30,000 to be paid within
      3 months of commencement of employment, subject to the condition that no
      such bonus will become payable if the Employee does not complete his
      probation period to the Company's
satisfaction.

                

        

      

       

      
        
          	
                	
                  4.2.2 

                	
                  For
      the first and second years of employment under this agreement (i.e.
      2009-10 and 2010-11), the Employee will be entitled to a cash bonus of 6%
      of the Bonus Pool.  Such cash bonus is conditional on the
      Employee being employed by the Company at the end of the relevant complete
      year, and will be payable within 3 months after the audit report is
      available for financial year 2009 and 2010
  respectively.

                

        

      

       

      
        	
                 

              	
                For
      the purpose of calculation of
bonus:

              

      

       

      
        
          	
                	
                  (1)

                	
                  “Bonus Pool” shall be
      calculated on the basis of 0.3% of the Total Revenue plus 5% of the
      After-Tax Profit of the Company, as shown in its Consolidated Accounts;
      and

                

        

      

       

      
        
          	
                	
                  (2)

                	
                  “Consolidated Accounts”
      means the audited consolidated accounts of the Company published and filed
      with the Securities Exchange Commission for the Financial Year in
      question.

                

        

      

       

      
        
          	
                	
                  4.2.3 

                	
                  Unless
      required by law or specifically referred to in this agreement, all cash
      bonuses will cease to be payable if the Employee is no longer an employee
      of the Company at the proposed payment
date.

                

        

      

       

      
        
          	
                	
                  4.3 

                	
                  Shares

                

        

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
        
          	
                	
                  4.3.1 

                	
                  After
      completing the first year of employment under this agreement (i.e.
      2009-2010), the Employee will be entitled to 50,000 shares of the Company,
      such shares to be transferred to a personal custodian account of the
      Employee’s choice. Such shares are conditional on the Employee being
      employed by the Company at the end of the completed year, and will be
      transferred within 3 months after the audit report is available for
      financial year 2009.

                

        

      

       

      
        
          	
                	
                  4.4 

                	
                  The
      Employee agrees that he will be responsible for all taxes under any
      applicable law or regulation in respect of all amounts and benefits
      received by him under this
agreement.

                

        

      

       

      
        
          	
                  5 

                	
                  MPF
      Scheme

                

        

      

       

      
        
          	
                	
                  5.1 

                	
                  The
      Company will enrol the Employee in a Mandatory Provident Fund ("MPF") Scheme (if
      required by law as applied to the Employee). The Company currently
      maintains an MPF Scheme with Hang Seng Bank.  Details of the
      Scheme will be provided to the Employee in due course. The Company may
      change this scheme at its discretion from time to
  time.

                

        

      

       

      
        
          	
                  6 

                	
                  Working Hours and
      Overtime Arrangement

                

        

      

       

      
        
          	
                	
                  6.1 

                	
                  The
      Employee's usual working hours will be as
  follows:

                

        

      

       

      
        
          	
                  Monday
      to Friday

                	
                  :

                	
                  09:00
      to 18:00

                
	 	 	 
	
                  Lunch

                	
                  :

                	
                  13:00
      to 14:00

                
	 	 	 
	
                  Saturday

                	
                  :

                	
                  09:00
      to 13:00

                

        

      

       

      
        	
                 

              	
                The
      Company reserves the right to vary the Employee's working hours from time
      to time.

              

      

       

      
        
          	
                	
                  6.2 

                	
                  The
      Employee will also be required to work such additional hours as may be
      necessary for the proper performance of his duties or when the
      responsibilities for his position requires him to work beyond normal
      working hours.  As the Employee is a management employee, no
      overtime payment or holiday in lieu will be granted in respect of any such
      additional hours worked.

                

        

      

       

      
        
          	
                  7 

                	
                  Rest Day and Leave
      Entitlement

                

        

      

       

      
        
          	
                	
                  7.1 

                	
                  The
      Company shall grant the Employee the following
  holidays:

                

        

      

       

      
        	
                 

              	
                Sundays
      are rest days, and the Employee is entitled to gazetted public holidays in
      Hong Kong.  Consideration shall be made in regard to the work
      responsibilities for the Employee's position if attendance to the Shenzhen
      office is required during gazetted public holidays.  If by
      mutual agreement the Employee is to work on rest days or public holidays,
      then he may receive compensation leave at the Company’s
      discretion.

              

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
        
          	
                	
                  7.2 

                	
                  The
      Employee is entitled to 10 working days paid annual leave for every twelve
      months of service to be taken at such times mutually agreed between the
      Company and the Employee. This is inclusive of statutory annual leave
      granted under the Employment Ordinance. Annual leave pay for statutory
      leave will be calculated in accordance with the Employment Ordinance, and
      leave pay for additional annual leave shall be calculated as the Company
      shall determine from time to time. Annual leave must be taken in the
      relevant year it relates to and may not be carried over unless written
      approval is obtained from the
Company.

                

        

      

       

      
        
          	
                  8 

                	
                  Sick Leave Arrangement
      and Insurance Benefits

                

        

      

       

      
        
          	
                	
                  8.1 

                	
                  The
      Employee is entitled to paid sick leave as provided by the Employment
      Ordinance, which is at 80% of wages. The Company may, at its discretion,
      provide full pay for each day of sickness, which is more generous than
      that required by the Employment Ordinance. The Company reserves the right
      to change its sick leave policy from time to time. The Employee must
      provide a medical certificate from a medical practitioner or registered
      dentist for each paid sickness day immediately on return to
      work.

                

        

      

       

      
        
          	
                	
                  8.2 

                	
                  The
      Employee will be covered by the Company’s Medical Insurance Scheme
      according to grade level.  Please refer to the prevailing
      Medical Insurance Scheme for details.  The Employee's
      participation in any insurance scheme is subject to the relevant terms and
      conditions from time to time and to meeting relevant eligibility criteria
      set by the insurance company. The Company reserves the right to vary the
      terms of any of the insurance benefits from time to
  time.

                

        

      

       

      
        
          	
                  9 

                	
                  Confidentiality

                

        

      

       

      
        
          	
                	
                  9.1 

                	
                  The
      Employee agrees that he shall not at any time, either during the
      continuance or after the cessation of his employment with the Company use,
      disclose or communicate to any person whatsoever any Confidential
      Information of which he has or may have become possessed during his
      employment with the Company or supply the contact details of any client,
      customer, supplier or agent of the Company or any other Group Company to
      any person except in the proper course of his employment or as authorised
      by the Company or a court of competent
  jurisdiction.

                

        

      

       

      
        
          	
                	
                  9.2 

                	
                  “Confidential
      Information” shall mean confidential information (which may include
      commercially sensitive information) important to and relating to the
      business of the Company or any other Group Company. Confidential
      information includes but is not limited to customer lists, pricing
      structures, marketing and sales information, business plans, non-public
      financial information, designs, formulae, product plans and any
      information marked as confidential or which might reasonably be expected
      to be regarded as
confidential.

                

        

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
        
          	
                  10 

                	
                  Intellectual
      Property

                

        

      

       

      
        
          	
                	
                  10.1 

                	
                  The
      Employee agrees that all rights, title and interests including
      Intellectual Property Rights of whatever nature, whether registered or
      not, arising out of any activities conducted by him which relate directly
      or indirectly to the business of the Company will belong to and are hereby
      assigned to the Company.

                

        

      

       

      
        
          	
                	
                  10.2 

                	
                  “Intellectual Property
      Rights” include all patents, utility model rights, trademarks,
      design rights and the rights to obtain or apply for such rights,
      copyrights, know-how or any other intellectual property
      rights.

                

        

      

       

      
        
          	
                  11 

                	
                  Staff Rules &
      Regulations

                

        

      

       

      
        
          	
                	
                  11.1 

                	
                  The
      Employee shall abide by the “Staff Rules & Regulations” issued by the
      Company as amended from time to
time.

                

        

      

       

      
        
          	
                  12 

                	
                  Transfer or
      Secondment

                

        

      

       

      
        
          	
                	
                  12.1 

                	
                  The
      Company reserves the right to transfer or second the Employee to another
      office or location of the Company or any of its Group Companies, joint
      ventures or joint ventures projects when and where
      required.  Transfer or secondment outside Hong Kong and the
      People’s Republic of China shall be subject to mutual
      agreement.  The Employee shall observe all customs, traditions,
      rules, regulations and working hours applicable to the relevant
      location.

                

        

      

       

      
        
          	
                  13 

                	
                  Suspension

                

        

      

       

      
        
          	
                	
                  13.1 

                	
                  The
      Company may suspend the Employee from his duties on full remuneration and
      request that he remain away from any premises of the Company and/or any
      other Group Company. He may be required to take annual leave during any
      period of suspension.

                

        

      

       

      
        
          	
                  14 

                	
                  Dismissal

                

        

      

       

      
        
          	
                	
                  14.1 

                	
                  The
      Company reserves the right to immediately terminate the employment without
      notice or payment in lieu of notice, or at its option on seven days'
      notice or payment in lieu, under the following
  conditions:

                

        

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
        
          	
                	
                  14.1.1 

                	
                  should
      the Employee at any time neglect or refuse to perform his duties (other
      than by reason of ill health not caused by his own misconduct) as provided
      for in this agreement or willfully disobey any lawful and reasonable order
      given by the Company, or

                

        

      

       

      
        
          	
                	
                  14.1.2 

                	
                  should
      the Employee be guilty of misconduct or negligence in his duties,
      or

                

        

      

       

      
        
          	
                	
                  14.1.3 

                	
                  should
      any medical practitioner certify in writing that the state of the
      Employee’s health will not allow him to continue working in his position,
      or

                

        

      

       

      
        
          	
                	
                  14.1.4 

                	
                  should
      the Employee undertake employment for remuneration other than for the
      Company or the Group and without permission of the Company,
    or

                

        

      

       

      
        
          	
                	
                  14.1.5 

                	
                  should
      the Employee disclose to any party any commercial or technical matters
      pertaining to those current projects the Company is undertaking or those
      potential projects the Company is pursuing,
or

                

        

      

       

      
        
          	
                	
                  14.1.6 

                	
                  should
      the Employee have a bankruptcy order made against him,
  or

                

        

      

       

      
        
          	
                	
                  14.1.7 

                	
                  should
      the Employee be convicted of any criminal offence other than an offence
      which, in the reasonable opinion of the Company, does not affect his
      position as an employee of the Company,
or

                

        

      

       

      
        
          	
                	
                  14.1.8 

                	
                  should
      the Employee by his actions or omissions, bring the name or reputation of
      the Company and/or any other Group Company into serious disrepute or
      prejudice the interests of the business of the Company and/or any other
      Group Company, or

                

        

      

       

      
        
          
            	
                  	
                    14.1.9 

                  	
                    should
      the Employee have any regulatory or other licence of approval, or
      employment visa refused, suspended, revoked or not renewed (for any
      reason); or

                  

          

        

      

       

      
        
          	
                	
                  14.1.10 

                	
                  should
      the Employee be prohibited by law from being a
  director.

                

        

      

       

      
        	
                 

              	
                On
      such dismissal the Employee's remuneration, rights, and benefits provided
      for under the provisions of this agreement shall cease forthwith, subject
      to any requirement of the Employment
Ordinance.

              

      

       

      
        
          	
                	
                  14.2 

                	
                  The
      Company may in accordance with the Employment Ordinance terminate the
      Employee's employment summarily without notice or payment in lieu in
      certain circumstances including but not limited to misconduct, fraud or
      dishonesty on his part.

                

        

      

       

      
        
          	
                	
                  14.3 

                	
                  During
      any notice period, the Company may require the Employee to cease to render
      all or some of his duties, remain away from any premises of the Company
      and/or any other Group Company, and/or take any accrued but untaken annual
      leave which is in excess of the statutory minimum due to
    him.

                

        

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
        
          	
                	
                  14.4 

                	
                  Upon
      the termination of the Employee's employment with the Company he shall
      immediately return to the Company any property of the Company or any other
      Group Company which may be in his possession, custody or control,
      including but not limited to documents (and copies, whether in hard copy
      or electronic form), equipment and any other
  materials.

                

        

      

       

      
        
          	
                  15 

                	
                  Modification of
      Agreement

                

        

      

       

      
        
          	
                	
                  15.1 

                	
                  Without
      prejudice to the generality of the provisions of these clauses, the
      Company shall have the right to propose modification to the terms and
      conditions defined in this agreement in the event that the Company
      considers those to be impractical due to changes in
      circumstances.  The Employee shall enter into discussion with
      the Company on the proposed modifications.  This agreement shall
      be altered to take account of modifications mutually agreed between the
      Company and the Employee.

                

        

      

       

      
        
          	
                  16 

                	
                  Conflict of
      Interest

                

        

      

       

      
        
          	
                	
                  16.1 

                	
                  During
      the continuance of this agreement, the Employee shall not without the
      prior written consent of the Company, in any capacity, carry on or be
      engaged, concerned or interested directly or indirectly (whether alone or
      on behalf of or in association with any other person) in any trade,
      business or occupation whatsoever other than that of the Company and/or
      any other Group Company otherwise than as a holder for personal investment
      purposes only of any shares or other capital of any listed company which
      does not compete with the Company and/or any other Group
      Company.

                

        

      

       

      
        
          	
                	
                  16.2 

                	
                  During
      the term of his employment, the Employee will not introduce to any other
      person, firm, company or organisation, business of any kind with which the
      Company and/or any other Group Company is able to deal and he will not
      have any outside financial interest in, or derive any financial or other
      benefit from, contracts or transactions entered into by the Company and/or
      any other Group Company without first disclosing such interest or benefit
      to the Company and obtaining its written
  approval.

                

        

      

       

      
        
          	
                  17 

                	
                  Restrictions

                

        

      

       

      
        	
                 

              	
                The
      Employee covenants with the Company (for itself and on behalf of each
      other Group Company) as follows.

              

      

       

      
        
          	
                	
                  17.1 

                	
                  Non-competition

                

        

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
        	
                 

              	
                The
      Employee shall not during his employment or at any time during the 6 month
      period after the date of the termination of his employment, except in the
      event of a wrongful termination by the Company, be engaged, concerned or
      interested, either directly or indirectly in any capacity (including but
      not limited to as principal, agent, advisor, employee, consultant, or
      officer) in any trade or business or occupation whatsoever in Hong Kong
      which would or might reasonably be considered to compete with the
      Restricted Business.

              

      

       

      
        
          	
                	
                  17.2 

                	
                  Non-dealing
      with clients

                

        

      

       

      
        	
                 

              	
                The
      Employee shall not during his employment or at any time during the 6 month
      period after the date of termination of his employment, except in the
      event of a wrongful termination by the Company, either on his own account
      or in conjunction with or on behalf of any other person, have business
      dealings directly or indirectly with any person who is a Restricted Client
      or Prospective Client provided always that nothing contained in this
      clause shall be deemed to prohibit the seeking or doing of business not in
      direct or indirect competition with the Restricted
    Business.

              

      

       

      
        
          	
                	
                  17.3 

                	
                  Non-solicitation
      of clients

                

        

      

       

      
        	
                 

              	
                The
      Employee shall not during his employment or at any time during the 12
      month period after the date of termination of his employment, except in
      the event of a wrongful termination by the Company, either on his own
      account or in conjunction with or on behalf of any other person solicit or
      interfere with or attempt to solicit or interfere with the Company’s
      and/or any other Group Company’s relationship with any Restricted Client
      or Prospective Client, provided always that nothing contained in this
      clause shall be deemed to prohibit the seeking or doing of business not in
      direct or indirect competition with the Restricted
    Business.

              

      

       

      
        
          	
                	
                  17.4 

                	
                  Non-solicitation
      of employees

                

        

      

       

      
        	
                 

              	
                The
      Employee shall not during his employment or at any time during the 12
      month period after the date of termination of his employment, except in
      the event of a wrongful termination by the Company, either on his own
      account or in conjunction with or on behalf of any other person, solicit
      or entice away or attempt to solicit or entice away (or assist any other
      person whether by means of the supply of names or expressing views on
      suitability or otherwise howsoever to solicit or entice away) from the
      Company and/or any other Group Company, any individual who is a management
      and/or senior employee or director or officer of the Company and/or any
      other Group Company, whether or not any such person would commit a breach
      of contract by reason of his leaving
service.

              

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
        
          	
                	
                  17.5 

                	
                  Where
      the above sub-clauses would apply after the cessation of the Employee’s
      employment, the periods of restriction specified in those clauses shall
      each be reduced by the duration of any period immediately prior to the
      date of termination during which the Company suspends the Employee from
      performance of his duties.

                

        

      

       

      
        
          	
                	
                  17.6 

                	
                  Each
      of the restrictions in this clause shall be construed as a separate and
      independent restriction and if one or more of the restrictions is found to
      be void or unenforceable, such void or unenforceable part shall be deemed
      deleted and the validity of the remaining restrictions shall not be
      affected.

                

        

      

       

      
        
          	
                	
                  17.7 

                	
                  For
      the purposes of the restrictions in this clause, the following definitions
      apply:

                

        

      

       

      
        	
                 

              	
                “Prospective Client”
      means any person (other than a Restricted Client) who, at any time during
      the Employee’s employment, or, where the covenant applies after
      termination of employment, at any time during the six month period
      immediately prior to the date of his termination of employment, was a
      person (1) from whom the Company and/or any other Group Company solicited
      or has solicited business during the relevant period; (2) to whom the
      Company and/or any other Group Company has made a presentation during the
      relevant period; or (3)for whom the Company and/or any other Group Company
      has taken steps in preparing to solicit business during the relevant
      period, and with whom during such relevant period the Employee shall have
      had business dealings.

              

      

       

      
        	
                 

              	
                “Restricted Business”
      means any of the businesses of the Company and/or any other Group Company
      in which the Employee was involved with during his employment (or where
      the restriction is being enforced after cessation of his employment, in
      the six months prior to such
cessation).

              

      

       

      
        	
                 

              	
                “Restricted Client” means
      any person who, at any time during the Employee's employment or, where the
      covenant applies after termination of employment, at any time during the
      six month period immediately prior to the date of his termination of
      employment, was a client or customer of the Company and/or any other Group
      Company and with whom during such period the Employee shall have had
      business dealings.

              

      

       

      
        
          	
                  18 

                	
                  Equal
      opportunities

                

        

      

       

      
        
          	
                	
                  18.1 

                	
                  The
      Company is an equal opportunities employer and the Employee is required to
      refrain from any discrimination, harassment or vilification which is
      prohibited by local laws.  The Employee is required to comply
      with any equal opportunities policy implemented by the Company from time
      to time.

                

        

      

       

      
        
          	
                  19 

                	
                  Data and
      information

                

        

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
        
          	
                	
                  19.1 

                	
                  The
      company may from time to time request the Employee to provide the Company
      with copies of the following
documents:

                

        

      

       

      
        
          	
                	
                  · 

                	
                  Curriculum
      vitae

                

        

      

      
        
          	
                	
                  · 

                	
                  Passport

                

        

      

      
        
          	
                	
                  · 

                	
                  Certificates
      of qualification.

                

        

      

      

      
        
          	
                	
                  19.2 

                	
                  The
      Employee consents to the Company and any other Group Company holding and
      processing the data it collects in relation to him in the course of his
      employment, for the purposes of the Company's administration and
      management of its employees and its business and for compliance with
      applicable procedures, laws and regulations and to the transfer, storage
      and processing of such data in and outside Hong Kong.  The
      Employee may request access to and correction of his personal data by
      contacting the Human Resources
Department.

                

        

      

       

      
        
          	
                  20 

                	
                  Governing law and
      jurisdiction

                

        

      

       

      
        
          	
                	
                  20.1 

                	
                  The
      Employee's terms and conditions of employment shall be governed by, and
      construed in accordance with, the laws of Hong
  Kong.

                

        

      

       

      
        
          	
                	
                  20.2 

                	
                  The
      Company and the Employee agree to submit to the exclusive jurisdiction of
      the Hong Kong courts and labour tribunal in respect of any dispute arising
      under the Employee's employment with the
  Company.

                

        

      

       

      
        
          	
                  21 

                	
                  General

                

        

      

       

      
        
          	
                	
                  21.1 

                	
                  This
      letter and any documents referred to constitute the entire agreement
      between the Company and the Employee, and shall be in substitution for any
      subsisting agreement or contract made by the Company and the Employee in
      relation to the Employee's
employment.

                

        

      

       

      
        
          	
                	
                  21.2 

                	
                  Where
      there is any inconsistency between this letter and any of the documents
      referred to, this letter will
prevail.

                

        

      

       

      
        
          	
                	
                  21.3 

                	
                  “Group Company” means the
      Company and from time to time any holding company of the Company and any
      company of which the Company, any such holding company, or any subsidiary
      of the Company or such holding company, holds or controls more than 20% in
      the nominal value of the shares in issue carrying voting rights. “Holding company” and
      “subsidiary” shall
      have the meanings given to them in the Companies Ordinance. “Group” shall be
      interpreted accordingly.

                

        

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      

      IN
WITNESS TO THEIR AGREEMENT HERETO, both parties assign their respective
signatures as follows:

      

      For and
on behalf of

      China
Architectural Engineering Inc. and each other Group
Company                                                                                                                                

      
        	
                 

                 

                /s/  Ken Y.
      Luo    

                Ken
      Y. Luo

                Chairman

              	
                 

                 

                Date:  30 March
      2009

              
	
                 

                 

                Mr.
      Li Chengcheng

                 

                /s/  Mr. Li
      Chengcheng    

                Passport
      No. G21075206

              	
                 

                 

                 

                 

                Date:  30 March
      2009Unassociated Document

    
      BEYOND
COMMERCE, INC.

       

      2008
EQUITY INCENTIVE PLAN

       

      
        	
                1.

              	
                PURPOSES OF THE
      PLAN

              

      

       

      The
purposes of the 2008 Equity Incentive Plan (the “Plan”) of Beyond Commerce,
Inc., a Nevada corporation (the “Company”), are
to:

       

      1.1
Encourage selected employees, directors, consultants and advisers to improve
operations and increase the profitability of the Company;

       

      1.2
Encourage selected employees, directors, consultants and advisers to accept or
continue employment or association with the Company or its Affiliates;
and

       

      1.3
Increase the interest of selected employees, directors, consultants and advisers
in the Company’s welfare through participation in the growth in value of the
common stock of the Company (the “Common Stock”).  All
references herein to stock or shares, unless otherwise specified, shall mean the
Common Stock.

       

      
        	
                2.

              	
                TYPES OF AWARDS;
      ELIGIBLE PERSONS

              

      

       

      2.1 The
Administrator (as defined below) may, from time to time, take the following
action, separately or in combination, under the Plan: (i) grant “incentive stock
options” (“ISOs”)
intended to satisfy the requirements of Section 422 of the Internal Revenue Code
of 1986, as amended, and the regulations thereunder (the “Code”); (ii) grant
“non-qualified options” (“NQOs,” and together with ISOs,
“Options”); (iii) sell
shares of Common Stock (“Restricted Stock”) and (iv)
grant stock appreciation rights (any such right would permit the holder to
receive the excess of the fair market value of Common Stock on the exercise date
over its fair market value (or a greater base value) on the grant date (“SARs”)), either in tandem with
Options or as separate and independent grants.  Any such awards may be
made to employees, including employees who are officers or directors, and to
individuals described in Section 1 of the Plan who the Administrator believes
have made or will make a contribution to the Company or any Affiliate (as
defined below); provided, however, that only a
person who is an employee of the Company or any Affiliate at the date of the
grant of an Option is eligible to receive ISOs under the Plan.

       

      2.2 For
purposes of the Plan: (i) the term “Affiliate” means a parent or
subsidiary corporation as defined in the applicable provisions (currently
Sections 424(e) and (f), respectively) of the Code; (ii) the term “employee” includes an officer
or director who is an employee of the Company; (iii) the term “consultant” includes persons
employed by, or otherwise affiliated with, a consultant; and (iv) the term
“adviser” includes
persons employed by, or otherwise affiliated with, an adviser.

       

      2.3
Except as otherwise expressly set forth in the Plan, no right or benefit under
the Plan shall be subject in any manner to anticipation, alienation,
hypothecation, or charge, and any such attempted action shall be
void.  No right or benefit under the Plan shall in any manner be
liable for or subject to debts, contracts, liabilities, or torts of any optionee
or any other person except as otherwise may be expressly required by applicable
law.

       

      
        
           

        

        
           

          
            

          

        

        
           

        

         

      

      
        	
                3.

              	
                STOCK SUBJECT TO THE
      PLAN; MAXIMUM NUMBER OF
GRANTS

              

      

       

      3.1
Subject to the provisions of Section 3.2, the total number of shares of Common
Stock that may be issued as Restricted Stock or on the exercise of Options or
SARs under the Plan shall not exceed 3,000,000 shares.  The shares
subject to an Option or SAR granted under the Plan that expire, terminate or are
cancelled unexercised shall become available again for grants under the
Plan.  If shares of Restricted Stock awarded under the Plan are
forfeited to the Company or repurchased by the Company, the number of shares
forfeited or repurchased shall again be available under the
Plan.  Where the exercise price of an Option is paid by means of the
optionee’s surrender of previously owned shares of Common Stock or the Company’s
withholding of shares otherwise issuable upon exercise of the Option as may be
permitted in the Plan, only the net number of shares issued and which remain
outstanding in connection with such exercise shall be deemed “issued” and no
longer available for issuance under the Plan.  No eligible person
shall be granted Options or other awards during any twelve-month period covering
more than 300,000 shares.

       

      3.2 If
the Common Stock is changed by reason of a stock split, reverse stock split,
stock dividend, recapitalization, combination or reclassification, then the
number and class of shares of stock subject to the Plan that may be issued under
the Plan shall be proportionately adjusted (provided that any fractional share
resulting from such adjustment shall be disregarded).

       

      
        	
                4.

              	
                ADMINISTRATION

              

      

       

      4.1 The
Plan shall be administered by the Board of Directors of the Company (the “Board”) or by a committee (the
“Committee”) to which
the Board has delegated administration of the Plan (or of part thereof) (in
either case, the “Administrator”).  The
Board shall appoint and remove members of the Committee in its discretion in
accordance with applicable laws.  At the Board’s discretion, the
Committee may be comprised solely of “non-employee directors” within the meaning
of Rule 16b-3 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or “outside
directors” within the meaning of Section 162(m) of the Code.  The
Administrator may delegate non-discretionary administrative duties to such
employees of the Company as the Administrator deems proper and the Board, in its
absolute discretion, may at any time and from time to time exercise any and all
rights and duties of the Administrator under the Plan.

       

      4.2
Subject to the other provisions of the Plan, the Administrator shall have the
authority, in its discretion: (i) to grant Options and SARs and grant or sell
Restricted Stock; (ii) to determine the fair market value of the shares of
Common Stock subject to Options or other awards; (iii) to determine the exercise
price of Options granted, which shall be no less than the fair market value of
the Common Stock on the date of grant, the economic terms of SARs granted, which
shall provide for a benefit of the appreciation on Common Stock over not less
than the value of the Common Stock on the date of grant, or the offering price
of Restricted Stock; (iv) to determine the persons to whom, and the time or
times at which, Options or SARs shall be granted or Restricted Stock granted or
sold, and the number of shares subject to each Option or SAR or the number of
shares of Restricted Stock granted or sold; (v) to construe and interpret the
terms and provisions of the Plan, of any applicable agreement and all Options
and SARs granted under the Plan, and of any Restricted Stock award under the
Plan; (vi) to prescribe, amend, and rescind rules and regulations relating to
the Plan; (vii) to determine the terms and provisions of each Option and SAR
granted and award of Restricted Stock (which need not be identical), including
but not limited to, the time or times at which Options and SARs shall be
exercisable or the time at which the restrictions on Restricted Stock shall
lapse; (viii) with the consent of the Grantee, to rescind any award or exercise
of an Option or SAR; (ix) to modify or amend the terms of any Option, SAR or
Restricted Stock (with the consent of the Grantee or holder of the Restricted
Stock if the modification or amendment is adverse to the Grantee or holder); (x)
to reduce the purchase price of Restricted Stock or exercise price of any Option
or base price of any SAR; (xi) to accelerate or defer (with the consent of the
Grantee) the exercise date of any Option or SAR or the date on which the
restrictions on Restricted Stock lapse; (xii) to issue shares of Restricted
Stock to an optionee in connection with the accelerated exercise of an Option by
such optionee; (xiii) to authorize any person to execute on behalf of the
Company any instrument evidencing the grant of an Option, SAR or award of
Restricted Stock; (xiv) to determine the duration and purposes of leaves of
absence which may be granted to participants without constituting a termination
of their employment for the purposes of the Plan; and (xv) to make all other
determinations deemed necessary or advisable for the administration of the Plan,
any applicable agreement, Option, SAR or award of Restricted Stock.

       

      
        
           

        

        
          2

          
            

          

        

        
           

        

      

      4.3 All
questions of interpretation, implementation, and application of the Plan or any
agreement or Option, SAR or award of Restricted Stock shall be determined by the
Administrator, which determination shall be final and binding on all
persons.

       

      
        	
                5.

              	
                GRANTING OF OPTIONS
      AND SARS; AGREEMENTS

              

      

       

      5.1 No
Options or SARs shall be granted under the Plan after 10 years from the date of
adoption of the Plan by the Board.

       

      5.2 Each
Option and SAR shall be evidenced by a written agreement, in form satisfactory
to the Administrator, executed by the Company and the person to whom such grant
is made (“Grantee,”
which term shall include the permitted successors and assigns of the Grantee
with respect to the Option or SAR).  In the event of a conflict
between the terms or conditions of an agreement and the terms and conditions of
the Plan, the terms and conditions of the Plan shall govern.

       

      5.3 Each
Option agreement shall specify whether the Option it evidences is an NQO or an
ISO, provided,
however, all
Options granted under the Plan to non-employee directors, consultants and
advisers of the Company are intended to be NQOs.

       

      5.4
Subject to Section 6.3.3 with respect to ISOs, the Administrator may approve the
grant of Options or SARs under the Plan to persons who are expected to become
employees, directors, consultants or advisers of the Company, but are not
employees, directors, consultants or advisers at the date of
approval.

       

      5.5 For
purposes of the Plan, the term “employment” shall be deemed to
include service as an employee, director, consultant or adviser.

       

      
        
           

        

        
          3

          
            

          

        

        
           

        

         

      

      
        	
                6.

              	
                TERMS AND CONDITIONS
      OF OPTIONS AND SARS

              

      

       

      Each
Option and SAR granted under the Plan shall be subject to the terms and
conditions set forth in Section 6.1.  NQOs and SARs shall also be
subject to the terms and conditions set forth in Section 6.2, but not those set
forth in Section 6.3.  ISOs shall also be subject to the terms and
conditions set forth in Section 6.3, but not those set forth in Section
6.2.  SARs shall be subject to the terms and conditions of Section
6.4.

       

      6.1 Terms and Conditions to
Which All Options and SARs Are Subject.  All Options and SARs
granted under the Plan shall be subject to the following terms and
conditions:

       

      6.1.1
Changes in Capital
Structure.  Subject to Section 6.1.2, if the Common Stock is
changed by reason of a stock split, reverse stock split, stock dividend,
recapitalization, combination or reclassification, then the number and class of
shares of stock subject to each Option and SAR outstanding under the Plan, and
the exercise price of each outstanding Option and the base value of SAR, shall
be automatically and proportionately adjusted; provided, that the
Company shall not be required to issue fractional shares as a result of any such
adjustments.  Such adjustment, however, in any outstanding Option or
SAR shall be made without change in the total price applicable to the
unexercised portion of the Option or SAR but with a corresponding adjustment in
the price for each share covered by the unexercised portion of the Option or
SAR.  Any determination by the Administrator in connection with these
adjustments shall be final, binding, and conclusive.  If an adjustment
under this Section 6.1.1 would result in a fractional share interest under an
option or any installment, the Administrator’s decision as to inclusion or
exclusion of that fractional share interest shall be final, but no fractional
shares of stock shall be issued under the Plan on account of any such
adjustment.

       

      6.1.2
Corporate
Transactions.  Except as otherwise provided in the applicable
agreement, in the event of a Corporate Transaction (as defined below), all
Options and SARs shall terminate upon consummation of the Corporate Transaction
unless the Administrator determines that they shall survive.  If the
Administrator determines that outstanding Options and SARs shall survive, and if
the Company shall not be the surviving entity in the Corporate Transaction, the
Administrator shall provide that the outstanding Options and SARs shall be
assumed or an equivalent Option or SAR substituted by an applicable successor
entity or any Affiliate of the successor entity.  If outstanding
Options and SARs are to terminate upon consummation of the Corporate
Transaction, any Options or SARS outstanding immediately prior to the
consummation of the Corporate Transaction shall be deemed fully vested and
exercisable immediately prior to the consummation of the Corporate Transaction
(provided that the Option or SAR has not expired by its terms and that the
Grantee takes all steps necessary to exercise the Option or SAR prior to the
Corporate Transaction as required by the agreement evidencing the Option or
SAR).  The Administrator shall notify each Grantee of an outstanding
Option or SAR of a proposed Corporate Transaction at least 30 days prior thereto
or as soon as may be practicable, and the exercise of any Option or SAR by a
Grantee thereafter shall be contingent upon consummation of the Corporate
Transaction unless the Grantee expressly elects otherwise with respect to vested
shares.  A “Corporate
Transaction” means (i) a liquidation or dissolution of the Company; (ii)
a merger or consolidation of the Company with or into another corporation or
entity (other than a merger with a wholly-owned subsidiary); or (iii) a sale of
all or substantially all of the assets of the Company in a single transaction or
a series of related transactions.

       

      
        
           

        

        
          4

          
            

          

        

        
           

        

      

      6.1.3
Time of Option or SAR
Exercise.  Subject to Section 6.3.4, an Option or SAR granted
under the Plan shall be exercisable (a) immediately as of the effective date of
the applicable agreement or (b) in accordance with a schedule or performance
criteria as may be set by the Administrator and specified in the applicable
agreement.  However, in no case may an Option or SAR be exercisable
until the Company and the Grantee execute a written agreement in form and
substance satisfactory to the Company.

       

      6.1.4
Grant
Date.  The date of grant of an Option or SAR under the Plan
shall be the date approved or specified by the Administrator and reflected as
the effective date of the applicable agreement.

       

      6.1.5
Non-Transferability of
Rights.  Except with the express written approval of the
Administrator, which approval the Administrator is authorized to give only with
respect to NQOs and SARs, no Option or SAR granted under the Plan shall be
assignable or otherwise transferable by the Grantee except by will or by the
laws of descent and distribution.  During the life of the Grantee, an
Option or SAR shall be exercisable only by the Grantee or permitted
transferee.

       

      6.1.6
Payment.  Except
as provided below, payment in full, in cash, shall be made for all Common Stock
purchased at the time written notice of exercise of an Option is given to the
Company and the proceeds of any payment shall be considered general funds of the
Company.  The Administrator in its discretion may include in any
Option agreement, or separately approve in connection with the exercise of any
Option, any one or more of the following additional methods of payment (provided
such payment does not violate applicable law or regulations or the rules of any
securities exchange on which the Company’s securities may be
listed):

       

      (a) Subject to the
Sarbanes-Oxley Act of 2002, acceptance of the Grantee’s full recourse promissory
note for all or part of the Option price, payable on such terms and bearing such
interest rate as determined by the Administrator (but in no event less than the
minimum interest rate specified under the Code at which no additional interest
or original issue discount would be imputed), which promissory note may be
either secured or unsecured in such manner as the Administrator shall approve
(including, without limitation, by a security interest in the shares of the
Company);

       

      (b) Delivery by the
optionee of shares of Common Stock already owned by the optionee for all or part
of the Option price, provided the fair market value (determined as set forth in
Section 6.1.9) of such shares of Common Stock is equal on the date of exercise
to the Option price, or such portion thereof as the optionee is authorized to
pay by delivery of such stock;

       

      
        
           

        

        
          5

          
            

          

        

        
           

        

      

      (c) Through the
surrender of shares of Common Stock then issuable upon exercise of the Option,
provided the fair market value (determined as set forth in Section 6.1.9) of
such shares of Common Stock is equal on the date of exercise to the Option
price, or such portion thereof as the optionee is authorized to pay by surrender
of such stock; and

       

      (d) By means of
so-called “cashless” or “net” exercises through a securities
broker.

       

      6.1.7
Termination of
Employment.  Unless otherwise provided in the applicable
agreement, if for any reason a Grantee ceases to be employed by the Company or
any of its Affiliates, Options held by the Grantee at the date of termination of
employment (to the extent then exercisable) may be exercised in whole or in part
at any time (but in no event after the Expiration Date) within one year of the
date of termination in the case of termination by reason of death or disability;
at the commencement of business on the date of a termination for “cause” (as
defined in the applicable agreement or in any agreement with the Company
pertaining to employment); and, in all other cases, within 90 days of the date
of termination.  For purposes of this Section 6.1.7, a Grantee’s
employment shall not be deemed to terminate by reason of the Grantee’s transfer
from the Company to an Affiliate, or vice versa, or sick leave, military leave
or other leave of absence approved by the Administrator, if the period of any
such leave does not exceed 90 days or, if longer, if the Grantee’s right to
reemployment by the Company or any Affiliate is guaranteed either contractually
or by statute

       

      6.1.8
Withholding and
Employment Taxes.  At the time of exercise and as a condition
thereto, or at such other time as the amount of such obligation becomes
determinable, the Grantee of an Option or SAR shall remit to the Company in cash
all applicable federal and state withholding and employment
taxes.  Such obligation to remit may be satisfied, if authorized by
the Administrator in its sole discretion, after considering any tax, accounting
and financial consequences, by the holder’s (a) delivery of a promissory note in
the required amount on such terms as the Administrator deems appropriate, (b)
tendering to the Company previously owned shares of Common Stock or other
securities of the Company with a fair market value equal to the required amount,
or (c) agreeing to have shares of Common Stock (with a fair market value equal
to the required amount), which are acquired upon exercise of the Option or SAR,
withheld by the Company.

       

      6.1.9
Other
Provisions.  Each Option and SAR granted under the Plan may
contain such other terms, provisions, and conditions not inconsistent with the
Plan as may be determined by the Administrator, and each ISO granted under the
Plan shall include such provisions and conditions as are necessary to qualify
the Option as an “incentive stock option” within the meaning of Section 422 of
the Code.

       

      6.1.10
Determination of Fair
Market Value.  For purposes of the Plan, the fair market value
of Common Stock or other securities of the Company shall be determined as
follows:

       

      (a) If the stock of
the Company is listed on a securities exchange or is regularly quoted by a
recognized securities dealer, and selling prices are reported, its fair market
value shall be the closing price of such stock on the date the value is to be
determined, but if selling prices are not reported, its fair market value shall
be the mean between the high bid and low asked prices for such stock on the date
the value is to be determined (or if there are no quoted prices for the date of
grant, then for the last preceding business day on which there were quoted
prices).

       

      
        
           

        

        
          6

          
            

          

        

        
           

        

      

      (b) In the absence
of an established market for the stock, the fair market value thereof shall be
determined in good faith by the Administrator, with reference to the Company’s
net worth, prospective earning power, dividend-paying capacity, and other
relevant factors, including the goodwill of the Company, the economic outlook in
the Company’s industry, the Company’s position in the industry, the Company’s
management, and the values of stock of other corporations in the same or a
similar line of business.

       

      6.1.11
Option and SAR
Term.  No Option or SAR shall be exercisable more than 10 years
after the date of grant, or such lesser period of time as is set forth in the
applicable agreement (the end of the maximum exercise period stated in the
agreement is referred to in the Plan as the “Expiration
Date”).

       

      6.2 Terms and Conditions to
Which Only NQOs and SARs Are Subject.  Options granted under
the Plan which are designated as NQOs and SARs shall be subject to the following
terms and conditions:

       

      6.2.1
Exercise
Price.  The exercise price of an NQO and the base value of an
SAR shall be the amount determined by the Administrator as specified in the
option or SAR agreement, but shall not be less than the fair market value of the
Common Stock on the date of grant (determined under Section
6.1.10).

       

      6.3 Terms and Conditions to
Which Only ISOs Are Subject.  Options granted under the Plan
which are designated as ISOs shall be subject to the following terms and
conditions:

       

      6.3.1
Exercise
Price.  The exercise price of an ISO shall not be less than the
fair market value (determined in accordance with Section 6.1.10) of the stock
covered by the Option at the time the Option is granted.  The exercise
price of an ISO granted to any person who owns, directly or by attribution under
the Code (currently Section 424(d)), stock possessing more than 10% of the total
combined voting power of all classes of stock of the Company or of any Affiliate
(a “10% Stockholder”)
shall in no event be less than 110% of the fair market value (determined in
accordance with Section 6.1.10) of the stock covered by the Option at the time
the Option is granted.

       

      6.3.2
Disqualifying
Dispositions.  If stock acquired by exercise of an ISO granted
pursuant to the Plan is disposed of in a “disqualifying disposition” within the
meaning of Section 422 of the Code (a disposition within two years from the date
of grant of the Option or within one year after the issuance of such stock on
exercise of the Option), the holder of the stock immediately before the
disposition shall promptly notify the Company in writing of the date and terms
of the disposition and shall provide such other information regarding the Option
as the Company may reasonably require.

       

      
        
           

        

        
          7

          
            

          

        

        
           

        

      

      6.3.3
Grant
Date.  If an ISO is granted in anticipation of employment as
provided in Section 5.4, the Option shall be deemed granted, without further
approval, on the date the Grantee assumes the employment relationship forming
the basis for such grant, and, in addition, satisfies all requirements of the
Plan for Options granted on that date.

       

      6.3.4
Term.  Notwithstanding
Section 6.1.11, no ISO granted to any 10% Stockholder shall be exercisable more
than five years after the date of grant.

       

      6.4 Terms and Conditions
Applicable Solely to SARs.  In addition to the other terms and
conditions applicable to SARs in this Section 6, the holder shall be entitled to
receive on exercise of an SAR only Common Stock at a fair market value equal to
the benefit to be received by the exercise.

       

      6.5 Manner of
Exercise.  A Grantee wishing to exercise an Option or SAR shall
give written notice to the Company at its principal executive office, to the
attention of the officer of the Company designated by the Administrator,
accompanied by payment of the exercise price and/or withholding taxes as
provided in Sections 6.1.6 and 6.1.8.  The date the Company receives
written notice of an exercise hereunder accompanied by the applicable payment
will be considered as the date such Option or SAR was
exercised.  Promptly after receipt of written notice of exercise and
the applicable payments called for by this Section 6.5, the Company shall,
without stock issue or transfer taxes to the holder or other person entitled to
exercise the Option or SAR, deliver to the holder or such other person a
certificate or certificates for the requisite number of shares of Common
Stock.  A holder or permitted transferee of an Option or SAR shall not
have any privileges as a stockholder with respect to any shares of Common Stock
to be issued until the date of issuance (as evidenced by the appropriate entry
on the books of the Company or a duly authorized transfer agent) of such
shares.

       

      
        	
                7.

              	
                RESTRICTED
      STOCK

              

      

       

      7.1 Sale of Restricted
Stock.

       

      7.1.1 No
awards of Restricted Stock shall be made under the Plan after 10 years from the
date of adoption of the Plan by the Board.

       

      7.1.2 The
Administrator may issue Restricted Stock under the Plan for such consideration
(including services, and, subject to the Sarbanes-Oxley Act of 2002, recourse
promissory notes) and such other terms, conditions and restrictions as
determined by the Administrator; provided that the sales price may not be less
than the fair market value of the stock (as determined under Section
6.1.10).  The restrictions may include restrictions concerning
transferability, repurchase by the Company and forfeiture of the shares issued,
together with such other restrictions as may be determined by the
Administrator.  If shares are subject to forfeiture or repurchase by
the Company, all dividends or other distributions paid by the Company with
respect to the shares may be retained by the Company until the shares are no
longer subject to forfeiture or repurchase, at which time all accumulated
amounts shall be paid to the recipient.

       

      7.1.3 All
Common Stock issued pursuant to this Section 7.1 shall be subject to a purchase
agreement, which shall be executed by the Company and the prospective recipient
of the Common Stock prior to the delivery of certificates representing such
stock to the recipient.  The purchase agreement may contain any terms,
conditions, restrictions, representations and warranties required by the
Administrator.  The certificates representing the shares shall bear
any legends required by the Administrator.

       

      
        
           

        

        
          8

          
            

          

        

        
           

        

      

      7.1.4 The
Administrator may require any purchaser or grantee of Restricted Stock to pay to
the Company in cash upon demand amounts necessary to satisfy any applicable
federal, state or local tax withholding requirements.  If the
purchaser fails to pay the amount demanded, the Administrator may withhold that
amount from other amounts payable by the Company to the purchaser, including
salary, subject to applicable law.  With the consent of the
Administrator in its sole discretion, a purchaser may deliver Common Stock to
the Company to satisfy this withholding obligation.

       

      7.2 Corporate
Transactions.  In the event of a Corporate Transaction, as
defined in Section 6.1.2 hereof, the Administrator, in its sole discretion, may
remove any restrictions as to any Restricted Stock or it may provide that all
outstanding Restricted Stock participate in the Corporate Transaction with an
equivalent stock substituted by an applicable successor corporation subject to
the restrictions.

       

      
        	
                8.

              	
                EMPLOYMENT OR
      CONSULTING RELATIONSHIP

              

      

       

      Nothing
in the Plan, any Option or SAR granted under the Plan, or any Restricted Stock
sold under the Plan, shall interfere with or limit in any way the right of the
Company or of any of its Affiliates to terminate the employment of any Grantee
or holder of Restricted Stock or an SAR at any time, nor confer upon any Grantee
or holder of Restricted Stock or an SAR any right to continue in the employ of,
or consult with, or advise, the Company or any of its Affiliates.

       

      
        	
                9.

              	
                CONDITIONS UPON
      ISSUANCE OF SHARES

              

      

       

      9.1 Securities
Laws.  Notwithstanding the provisions of any Option, SAR or
offer of Restricted Stock, the Company shall have no obligation to issue shares
under the Plan unless such issuance shall be registered or qualified under
applicable securities laws, including, without limitation, the Securities Act or
exempt from such registration or qualification.  The Company shall
have no obligation to register or qualify such issuance under the Securities Act
or other securities laws.

       

      9.2 Non-Compete
Agreement.  As a further condition to the receipt of Common
Stock pursuant to the exercise of an Option or SAR or the receipt of Restricted
Stock, the Grantee or recipient of Restricted Stock may be required not to
render services for any organization, or engage directly or indirectly in any
business, competitive with the Company at any time during which (i) an Option or
SAR is outstanding to such Grantee and for six months after any exercise of an
Option or SAR or the receipt of Common Stock pursuant to the exercise of an
Option or SAR and (ii) Restricted Stock is owned by such recipient and for six
months after the restrictions on such Restricted Stock lapse.  Failure
to comply with this condition shall cause such Option or SAR and the exercise or
issuance of shares thereunder and/or the award of Restricted Stock to be
rescinded and the benefit of such exercise, issuance or award to be repaid to
the Company.

       

      
        
           

        

        
          9

          
            

          

        

        
           

        

         

      

      
        	
                10.

              	
                NON-EXCLUSIVITY OF THE
      PLAN

              

      

       

      The
adoption of the Plan shall not be construed as creating any limitations on the
power of the Company to adopt such other incentive arrangements as it may deem
desirable, including, without limitation, the granting of stock options other
than under the Plan.

       

      
        	
                11.

              	
                MARKET
      STAND-OFF

              

      

       

      Each
Grantee and recipient of Restricted Stock, if so requested by the Company or any
representative of the underwriters in connection with any registration of the
offering of any securities of the Company under the Securities Act, shall not
sell or otherwise transfer any shares of Common Stock acquired upon exercise of
Options, SARs or receipt of Restricted Stock during the 180-day period following
the effective date of a registration statement of the Company filed under the
Securities Act; provided, however, that such
restriction shall apply only to a registration statement of the Company which
includes securities to be sold on behalf of the Company to the public in an
underwritten public offering under the Securities Act.

       

      
        	
                12.

              	
                AMENDMENTS TO
      PLAN

              

      

       

      The Board
may at any time amend, alter, suspend or discontinue the
Plan.  Without the consent of a Grantee or holder of Restricted Stock,
no amendment may adversely affect such person’s outstanding Option(s), SAR(s) or
the terms applicable to Restricted Stock except to conform the Plan and ISOs
granted under the Plan to the requirements of federal or other tax laws relating
to ISOs.  No amendment to the Plan shall require stockholder approval
unless (a) stockholder approval is required to preserve incentive stock option
treatment for federal income tax purposes; (b) the Board otherwise concludes
that stockholder approval is advisable; or (c) such approval is required under
the rules of any securities exchange on which securities of the Company are
registered.

       

      
        	
                13. 

              	
                EFFECTIVE DATE OF
      PLAN; TERMINATION

              

      

       

      The Plan
became effective on September __, 2008, the date of adoption by the Board; provided, however, that no
shares of Common Stock shall be issued, and no Option or SAR shall be
exercisable, unless and until the Plan is approved by the holders of a majority
of the stockholders of the Company entitled to vote within 12 months after
adoption by the Board.  If any Options or SARs are so granted and
stockholder approval shall not have been obtained within 12 months of the date
of adoption of the Plan by the Board, such Options and SARs shall terminate
retroactively as of the date they were granted.  The Plan (but not
Options and SARs previously granted under the Plan) shall terminate (a)
September __, 2018 or (b) the date the Board adopts a resolution discontinuing
the grant of awards under the Plan.  Termination of the Plan shall not
affect any outstanding Options or SARs or the terms applicable to previously
awarded Restricted Stock, which shall continue to be governed by the
Plan.

       

      
        
           

        

        
          10

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