Document:

LICENSE AGREEMENT

                                     BETWEEN

                            AVENSYS LABORATORIES INC.

                                       AND

                                  AVENSYS INC.

                              McCarthy Tetrault LLP

                                 April 13, 2006

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                                TABLE OF CONTENTS

1.    INTERPRETATION...........................................................1

   1.1      DEFINITIONS........................................................1
   1.2      HEADINGS...........................................................4
   1.3      EXTENDED MEANINGS..................................................4
   1.4      STATUTORY REFERENCES...............................................4
   1.5      ACCOUNTING PRINCIPLES..............................................4
   1.6      CURRENCY...........................................................5
   1.7      SCHEDULES..........................................................5

2.    GRANTS AND COVENANTS.....................................................5

   2.1      LICENSE GRANT......................................................5
   2.2      TRADE-MARKS LICENSE................................................6
   2.3      EXCLUSIVITY........................................................7
   2.4      NO CONTESTATION....................................................7

3.    OBLIGATIONS OF LICENSEE..................................................7

   3.1      COMMERCIALIZATION OF THE PRODUCTS..................................7
   3.2      RECORDS............................................................8

4.    FIELD-RELATED RESEARCH AND DEVELOPMENT...................................8

   4.1      SCOPE..............................................................8
   4.2      REPORT.............................................................8
   4.3      PROTOTYPES.........................................................9
   4.4      DOCUMENTATION AND ASSISTANCE.......................................9
   4.5      COSTS..............................................................9
   4.6      REVENUE............................................................9
   4.7      STANDARDS..........................................................9

5.    SPECIFIC PROJECTS.......................................................10

   5.1      SCOPE AND COSTS...................................................10
   5.2      CONFIDENTIALITY...................................................10

6.    OWNERSHIP...............................................................10

7.    COMPENSATION............................................................11

   7.1      ROYALTY RATE......................................................11
   7.2      REDUCTION FOR THIRD PARTY ROYALTIES...............................11
   7.3      PAYMENT...........................................................11
   7.4      SINGLE ROYALTY....................................................12
   7.5      TAX...............................................................12

8.    PURSUIT AND MAINTENANCE OF PATENT AND TRADE-MARKS RIGHTS................12

   8.1      PATENTS...........................................................12
   8.2      TRADE-MARKS.......................................................12

9.    INFRINGEMENTS...........................................................13

   9.1      DUTY TO INFORM....................................................13
   9.2      INFRINGEMENT BY THIRD PARTIES.....................................13
   9.3      INFRINGEMENT OF THIRD PARTIES' RIGHTS.............................14

10.   TERM AND TERMINATION....................................................14

   10.1     TERM..............................................................14

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   10.2     TERMINATION FOR MATERIAL BREACH...................................14
   10.3     TERMINATION FOR INSOLVENCY........................................15
   10.4     EFFECT OF TERMINATION.............................................15

11.   CONFIDENTIALITY.........................................................16

   11.1     CONFIDENTIAL INFORMATION..........................................16
   11.2     EXCEPTIONS........................................................16
   11.3     NONDISCLOSURE OBLIGATIONS.........................................16
   11.4     RETURN............................................................17
   11.5     INJUNCTIVE RELIEF.................................................17

12.   REPRESENTATIONS AND WARRANTIES..........................................17

   12.1     MUTUAL REPRESENTATIONS AND WARRANTIES.............................17
   12.2     AVENSYS LAB'S REPRESENTATIONS AND WARRANTIES......................18
   12.3     LICENSEE'S REPRESENTATIONS AND WARRANTIES.........................18

13.   LIMITATION OF LIABILITY.................................................18

14.   INDEMNIFICATION.........................................................19

   14.1     INDEMNIFICATION BY LICENSEE.......................................19
   14.2     INDEMNIFICATION BY AVENSYS LAB....................................19
   14.3     NOTIFICATION AND COOPERATION......................................19

15.   PROJECT MANAGEMENT......................................................20

   15.1     PROJECT MANAGERS..................................................20
   15.2     MEETINGS..........................................................20

16.   GENERAL.................................................................20

   16.1     PUBLIC ANNOUNCEMENT...............................................20
   16.2     RELATIONSHIP OF THE PARTIES.......................................20
   16.3     FURTHER ASSURANCES................................................21
   16.4     BENEFIT OF THE AGREEMENT..........................................21
   16.5     ENTIRE AGREEMENT..................................................21
   16.6     AMENDMENTS AND WAIVERS............................................21
   16.7     ASSIGNMENT........................................................21
   16.8     SEVERABILITY......................................................21
   16.9     NOTICES...........................................................22
   16.10    GOVERNING LAW.....................................................23
   16.11    COUNTERPARTS......................................................23
   16.12    FACSIMILES........................................................23

A) PATENT LIST................................................................25

B) PATENT APPLICATIONS........................................................26

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LICENSE AGREEMENT made as of April 13, 2006.

BETWEEN:    AVENSYS LABORATORIES INC., a corporation incorporated under Part 1A
            of the Companies Act (Quebec), having its head office at 247,
            boulevard Thibeau, Trois-Rivieres, Quebec G8T 6X9, herein acting and
            represented by its duly authorized representative as he so declares;

            (hereinafter referred to as the "Avensys Lab")

AND:        AVENSYS INC., a corporation incorporated under Part 1A of the
            Companies Act (Quebec), having its head office at 880, Selkirk,
            Pointe-Claire, Quebec H9R 3S3, herein acting and represented by its
            duly authorized representative as he so declares;

            (hereinafter referred to as "Licensee")

WHEREAS the parties, ITF Optical Technologies Inc. ("ITF") and Manaris
Corporation have entered into an asset purchase agreement dated as of the date
hereof, for the sale by ITF to Licensee and Avensys Lab of certain assets
associated with ITF's all-fiber photonics solutions manufacturing business (the
"Asset Purchase Agreement");

WHEREAS Avensys Lab is the owner of or has the right to sub-license certain
intellectual property;

WHEREAS in conjunction with the Asset Purchase Agreement, Avensys Lab wishes to
grant, and Licensee desires to acquire, an exclusive license under Avensys Lab's
Intellectual Property (as defined below), subject to the terms and conditions
set forth hereinafter;

WHEREAS Avensys Lab and Avensys wish to collaborate to discover and develop new
technologies in the Field (as defined below), subject to the terms and
conditions set forth hereinafter;

NOW THEREFORE, in consideration of the mutual promises set forth hereinafter,
the parties agree as follows:

1.       INTERPRETATION

         1.1      Definitions

                  In this Agreement, unless something in the subject matter or
                  context is inconsistent therewith:

                  1.1.1    "Affiliates" has the meaning attributed thereto in
                           the Canada Business Corporations Act.

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                  1.1.2    "Agreement" means this agreement entitled "License
                           Agreement", all Schedules hereto and all instruments
                           supplemental hereto or in amendment or in
                           confirmation hereof.

                  1.1.3    "Asset Purchase Agreement" shall have the meaning set
                           forth in the Preamble.

                  1.1.4    "Avensys Lab's Intellectual Property" means the
                           Patents, the Trade-Marks and any other Intellectual
                           Property either currently owned by Avensys Lab and/or
                           developed by Avensys Lab during the term of this
                           Agreement pursuant to any Field-related research and
                           development conducted in accordance with Section 4.

                  1.1.5    "Business Day" means a day other than a Saturday,
                           Sunday or statutory holiday in Quebec.

                  1.1.6    "Confidential Information" has the meaning set forth
                           in Section 11.1.

                  1.1.7    "Documentation" means the notes, sketches, tables,
                           drawings, technical specifications, processes, and
                           models, if any, developed by Avensys Lab related to
                           Avensys Lab's Intellectual Property.

                  1.1.8    "Field" means the field within which Avensys Lab will
                           carry out research and development in accordance with
                           Section 4, as more fully described in Schedule 1.1.8,
                           as amended from time to time.

                  1.1.9    "Intellectual Property" means all worldwide
                           intellectual and industrial rights and includes
                           rights to (i) inventions and patents for inventions,
                           including all divisional, continuing, substitute,
                           renewal, re-issue and all other applications and/or
                           letters patent therefor, (ii) copyrights, (iii)
                           designs and industrial designs, (iv) trade-marks, and
                           any word, symbol, icon, logo or other indicia of
                           origin adopted or used in connection with any product
                           or service, (v) know-how, trade secrets and
                           confidential information, and (vi) other proprietary
                           rights.

                  1.1.10   "Licensee Intellectual Property" means any
                           Intellectual Property owned by Licensee that, by
                           agreement of the parties from time to time, shall be
                           expressly excluded from the application of Sections
                           6.2 and 6.3 hereof. In particular, Licensee
                           Intellectual Property shall include Licensee's
                           Intellectual Property in the Processes.

                  1.1.11   "Patent Improvements" means any modifications,
                           improvements, enhancements or advances that are
                           directly related to the Patents, whether or not those
                           improvements constitute patentable improvements under
                           the laws of any jurisdiction.

                  1.1.12   "Patents" means the registered patents and pending
                           applications for patents, either owned by Avensys Lab
                           or for which Avensys Lab has the right to sub-license

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                           without liability to a third party as listed in
                           Schedule 1.1.11, and all patents to be issued
                           pursuant thereto and all divisions, continuations,
                           continuations-in-part, reissues, substitutes and
                           extensions thereof.

                  1.1.13   "Processes" means the manufacturing processes
                           developed by Avensys Labs or Licensee (as
                           demonstrated by their business records) related to
                           and/or used to develop and/or manufacture the
                           Products.

                  1.1.14   "Process Improvements" means any modifications,
                           improvements, enhancements or advances that are
                           directly related to the Processes, whether or not
                           those improvements constitute patentable improvements
                           under the laws of any jurisdiction.

                  1.1.15   "Product" means any and all products developed,
                           manufactured or Sold by Licensee in the Field that
                           use or incorporate Avensys' Lab Intellectual
                           Property.

                  1.1.16   "Project Manager" has the meaning set forth in
                           Section 15.1.

                  1.1.17   "Prototype" means Field-related, functional,
                           pre-production applications of Avensys Lab
                           Intellectual Property, developed by Avensys Lab in
                           accordance with Section 4.

                  1.1.18   "Revenue" means all of the revenues recognized in
                           accordance with the GAAP (as defined in Section 1.5)
                           and received by Licensee from the Sale of any
                           Products in any or all parts of the world, less the
                           following deductions to the extent required or
                           permitted by the GAAP in connection with the
                           recognition of such revenues:

                           1.1.18.1 credit, allowance or refunds given on
                                    account of returned goods;

                           1.1.18.2 transportation charges invoiced separately
                                    and actually charged to third parties;

                           1.1.18.3 taxes, duties and customs on all sales of
                                    Products;

                           1.1.18.4 agents' commissions paid by Avensys for the
                                    sale of Products;

                           1.1.18.5 uncollectible amounts;

                           1.1.18.6 bona fide special rebates provided by
                                    Avensys for Products purchased by third
                                    parties; and

                           1.1.18.7 bona fide trade, quantity and cash
                                    discounts.

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                  1.1.19   "Royalty" has the meaning set forth in Section 7.1.

                  1.1.20   "Sale", "Sell" (and other derivatives) means market,
                           promote, distribute, sale, rent, lease, license or
                           other form of distribution of a Product to an end
                           user, distributor, any other person or entity, either
                           directly or through a chain of distribution.

                  1.1.21   "Territory" means worldwide.

                  1.1.22   "Trade-Marks" means Avensys Lab trade-mark(s) listed
                           in Schedule 1.1.22, as amended from time to time.

         1.2      Headings

                  The division of this Agreement into Articles and Sections and
                  the insertion of headings are for convenience of reference
                  only and shall not affect the construction or interpretation
                  of this Agreement. The terms "this Agreement", "hereof",
                  "hereunder" and similar expressions refer to this Agreement
                  and not to any particular Article, Section or other portion
                  hereof and include any amendment hereto. Unless something in
                  the subject matter or context is inconsistent therewith,
                  references herein to Articles or Sections are to Articles or
                  Sections of this Agreement.

         1.3      Extended Meanings

                  In this Agreement, words importing the singular number only
                  shall include the plural and vice versa, words importing the
                  masculine gender shall include the feminine and neuter genders
                  and vice versa and words importing persons shall include
                  individuals, partnerships, limited liability companies,
                  associations, trusts, unincorporated organizations and
                  corporations.

         1.4      Statutory References

                  In this Agreement, unless something in the subject matter or
                  context is inconsistent therewith or unless otherwise herein
                  provided, a reference to any statute is to that statute as now
                  enacted or as the same may from time to time be amended,
                  re-enacted or replaced and includes any regulations made
                  thereunder.

         1.5      Accounting Principles

                  Wherever in this Agreement reference is made to a calculation
                  to be made in accordance with generally accepted accounting
                  principles ("GAAP"), such reference shall be deemed to be to
                  the generally accepted accounting principles in Canada from
                  time to time approved by the Canadian Institute of Chartered
                  Accountants, or any successor institute, applicable as at the
                  date on which such calculation is made or required to be made
                  in accordance with generally accepted accounting principles
                  and applied in a manner consistent with prior periods of the
                  Seller.

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         1.6      Currency

                  All references to currency herein are to lawful money of
                  Canada.

         1.7      Schedules

                  The following are the Schedules to this Agreement:

                  Schedule 1.1.8 - Field

                  Schedule 1.1.11 - List of Patents

                  Schedule 1.1.22 - List of Trade-Marks

                  Schedule 7.1 - Royalty

                  Schedule 7.3.2 - Avensys Lab's bank account information

2.       GRANTS AND COVENANTS

         2.1      License Grant

                  2.1.1    Subject to the terms, conditions and restrictions of
                           this Agreement, Avensys Lab hereby grants to Licensee
                           a personal, irrevocable, sole (i.e. exclusive,
                           subject to the rights of Avensys lab set forth in
                           Section 2.1.3 below) license, within the Territory,
                           to use, copy, enhance and modify Avensys Lab's
                           Intellectual Property and any Patent Improvements in
                           order to develop, manufacture, use and Sell the
                           Products.

                  2.1.2    Notwithstanding anything to the contrary in this
                           Agreement, the license granted herein to Licensee
                           includes the right:

                           2.1.2.1  to grant sublicenses (subject to terms and
                                    conditions substantially similar to those
                                    set forth in this Section 2) to Affiliates
                                    of Licensee to use, copy, enhance and modify
                                    Avensys Lab's Intellectual Property in order
                                    to develop, manufacture, use or Sell the
                                    Products;

                           2.1.2.2  to translate the Documentation; and

                           2.1.2.3  to have Products manufactured or assembled
                                    by third parties and/or developed by or with
                                    third parties solely for the benefit of
                                    Licensee for the manufacture, use or Sale by
                                    Licensee or its Affiliates.

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                  2.1.3    For greater certainty, nothing herein shall prevent
                           Avensys Lab from using, copying, enhancing, modifying
                           the Avensys Lab's Intellectual Property and any
                           Patent Improvements:

                           2.1.3.1  for its internal use;

                           2.1.3.2  in the context of the development or
                                    commercialization of Prototypes; or

                           2.1.3.3  in the context of research and development
                                    activities unrelated to the Field or its own
                                    behalf or on behalf of a third party.

         2.2      Trade-Marks License

                  2.2.1    Subject to the terms, conditions and restrictions of
                           this Agreement, Avensys Lab hereby grants to Licensee
                           a personal, irrevocable, exclusive license, within
                           the Territory, to use the Trade-Marks only in
                           association with the Products.

                  2.2.2    Licensee shall comply with Avensys Lab's standard
                           trade-mark guidelines as to the form and manner in
                           which the Trade-Marks may be used pursuant hereto. In
                           particular, Licensee shall not change, amend or
                           otherwise modify the Trade-Marks. Moreover, Licensee
                           shall identify the Trade-Marks, when used as
                           trade-marks, with a notation that the mark is a
                           registered/unregistered trade-mark of Avensys Lab, as
                           the case may be. Upon request, Licensee shall submit
                           for approval by Avensys Lab, acting reasonably,
                           samples of any packaging, documentation, advertising,
                           brochures and other material on which the Trade-Marks
                           appears or is intended to be used in relation to
                           Products being manufactured, used or Sold by
                           Licensee.

                  2.2.3    Licensee acknowledges that Avensys Lab is the
                           exclusive owner of the Trade-Marks and all goodwill
                           associated therewith, that all use of the Trade-Marks
                           by it enures to the benefit of Avensys Lab, and that
                           it shall not dispute or contest the validity,
                           ownership or enforceability of the Trade-Marks nor
                           attempt to dilute the value of the goodwill attached
                           thereto.

                  2.2.4    To the limited extent required to protect Avensys
                           Lab's rights in the Trade-marks, during the term of
                           the Agreement, Licensee shall give Avensys Lab's
                           representatives reasonable access to Licensee's
                           facilities, at Avensys Lab's expense, at reasonable
                           times during business hours, subject to Avensys Lab
                           giving Licensee at least five (5) Business Days prior
                           notice, for the purpose of quality control in
                           relation to Products branded with the Trade-marks, as
                           the case may be.

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         2.3      Exclusivity

                  In order to assure Licensee of the exclusive rights under
                  Avensys Lab's Intellectual Property to commercialize the
                  Products, and except as provided by this Agreement, Avensys
                  Lab shall not:

                  2.3.1    itself use Avensys Lab's Intellectual Property to
                           develop, produce, market, distribute and sell
                           products (other than Prototypes) in or related to the
                           Field; or

                  2.3.2    grant to a third party any rights or licenses to use,
                           copy, enhance or modify any of Avensys Lab's
                           Intellectual Property to develop, produce, market,
                           distribute and/or sell products in or related to the
                           Field.

         2.4      No Contestation

                  2.4.1    Licensee hereby undertakes not to contest Avensys
                           Lab's Intellectual Property nor the rights of Avensys
                           Lab therein at any time during or after expiration or
                           termination of this Agreement.

                  2.4.2    Avensys Lab hereby undertakes not to contest any and
                           all rights of Licensee to the Products and any
                           enhancements to the Product that are made as
                           permitted by this Agreement at any time during or
                           after expiration or termination of this Agreement.

3.       OBLIGATIONS OF LICENSEE

         3.1      Commercialization of the Products

                  3.1.1    Licensee shall use commercially reasonable efforts to
                           Sell the Products.

                  3.1.2    Licensee shall conduct its business with respect to
                           the Products in a professional manner.

                  3.1.3    Subject to Section 2.2, the Parties agree that
                           Licensee shall be free to make decisions in
                           connection with its marketing activities, including
                           the terms of sale and the price of the Product, in an
                           autonomous and independent manner.

                  3.1.4    Licensee may, in its discretion, mark every Product
                           and any documents it issues in respect thereof with
                           the Trade-Marks as are required pursuant to this
                           Agreement and as agreed between the Parties from time
                           to time. For greater certainty, Licensee may also
                           distribute the Products on a "white label" basis,
                           without use of the Trade-marks.

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         3.2      Records

                  3.2.1    Licensee shall maintain all books and records under
                           generally accepted accounting practices evidencing
                           all the Sales of Product, the Revenue received in
                           respect thereof and Royalty payments under this
                           Agreement.

                  3.2.2    For the period in which the Royalties accrue
                           hereunder and for a period of three (3) years after
                           completion of Royalty payment, Licensee shall grant
                           Avensys Lab or its designated professional advisors
                           reasonable access during business hours to inspect
                           books and records kept by Licensee relating to the
                           Sales of Product, the Revenue received in respect
                           thereof and Royalty payments under this Agreement and
                           shall make such books and records available and
                           permit them to audit, inspect and take copies of the
                           books and records. In the event that such audits and
                           inspections reveal accounting or other errors in
                           relation to Royalty payments due to Avensys Lab, the
                           difference shall be paid immediately by Avensys Lab
                           or Licensee, as the case may be, with interest at a
                           rate of one percent (1%) monthly (twelve per cent
                           (12%) annually). All costs and expenses arising out
                           of such audits and inspections shall be borne by
                           Avensys Lab

                  3.2.3    In the event Avensys Lab wishes to inspect the books
                           and records maintained by Licensee in relation to the
                           Sales of Products, the Revenue received in respect
                           thereof and Royalty payments under this Agreement, it
                           shall notify Licensee, in writing, of necessary
                           matters including the subject period, scope and
                           period of such inspection as well as the organization
                           to which the inspector belongs and the title and name
                           of the inspector at least twenty (20) Business Days
                           prior to the inspection commencement date.

4.       FIELD-RELATED RESEARCH AND DEVELOPMENT

         4.1      Scope

                  Avensys Lab agrees to continue, during the term, to conduct
                  research and development in the Field in view of the
                  manufacturing and Sale of Products by Licensee for the mutual
                  benefit of the parties. For greater certainty, nothing herein
                  shall prevent Avensys Lab from undertaking research and
                  development activities unrelated to the Field on its own
                  behalf or on behalf of a third party.

         4.2      Report

                  Avensys Lab shall provide status reports to Licensee upon
                  request and on a quarterly basis with respect to any
                  Field-related research and development. The status reports
                  shall specify the progress that has been made with respect to

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                  any and all then ongoing project, and will be presented in
                  writing, or if presented orally, will be summarized in writing
                  within five (5) Business Days of any such presentation.

         4.3      Prototypes

                  4.3.1    Upon completion of any Prototype, Avensys Lab shall
                           immediately inform Licensee. Avensys Lab shall
                           provide a written description of the Prototype and,
                           upon Licensee's request, shall provide
                           demonstrations, at Avensys Lab's facilities, in order
                           for Licensee to evaluate the Prototype and the
                           potential Product applications.

                  4.3.2    Avensys Lab shall allow Licensee to test the
                           Prototypes at Avensys Lab's premises for a period of
                           sixty (60) Business Days.

         4.4      Documentation and Assistance

                  4.4.1    In the event that Licensee wishes to use a Prototype
                           as a basis for the production of Products, Avensys
                           Lab shall, within ten (10) Business Days of
                           Licensee's request, provide Licensee with a copy of
                           all Documentation that is relevant to the manufacture
                           of a Product.

                  4.4.2    Avensys Lab shall, upon request of Licensee from time
                           to time, render such other assistance, at Licensee's
                           expense, as Licensee may reasonable request for the
                           development, manufacture or Sale of the Products.

         4.5      Costs

                  Avensys Lab shall bear all costs incurred in respect of the
                  research and development conducted and any assistance provided
                  pursuant to this Section 4 and agrees that such costs are
                  covered by the Royalty payments made by Licensee in accordance
                  with the terms of this Agreement.

         4.6      Revenue

                  Avensys Lab shall be entitled to all of the revenues received
                  by Avensys Lab from the Sale of any Prototypes during the term
                  of this Agreement, subject to any royalties due to Licensee in
                  the event that the Prototypes use or incorporate Licensee's
                  Intellectual Property, in which case the provisions of this
                  Agreement in relation to the payment of royalties by Licensee
                  to Avensys Lab shall apply to Avensys Lab's payment of
                  royalties to Licensee mutatis mutandis.

         4.7      Standards

                  Avensys Lab hereby agrees that it will use reliable equipment
                  and agrees to acquire and/or maintain the facilities,
                  equipment and staff as appropriate to effectively carry out
                  its research and development undertakes pursuant to Sections 4

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                  and 5 hereof in accordance with industry standards. For
                  greater certainty, the standards of practice in respect of
                  research and development that were implemented by ITF as at
                  the closing of the Asset Purchase Agreement shall be
                  considered acceptable standards for the purposes hereof.

5.       SPECIFIC PROJECTS

         5.1      Scope and Costs

                  Notwithstanding the provisions of Section 4, Avensys Lab
                  acknowledges that from time to time, Licensee may approach
                  Avensys Lab to assist Licensee in carrying out research and
                  development work for specific projects (each a "Specific
                  Project"). For each Specific Project contemplated, the parties
                  shall cooperate to create a work plan setting out the
                  objectives of said Specific Project, its scope, the budget,
                  the completion schedule, the testing and acceptance mechanisms
                  and the reporting. A work plan and the allocated budgets may
                  be subsequently modified as reasonably required under the
                  circumstances, with the consent of the parties.

         5.2      Confidentiality

                  Avensys Lab acknowledges that any development work carried out
                  by Avensys Lab for Licensee under any Specific Project
                  constitutes Confidential Information and shall not be
                  disclosed to a third party without the prior written
                  authorization of the disclosing party.

6.       OWNERSHIP

         6.1      Nothing contained in this Agreement shall be deemed to convey
                  any title to or ownership in Avensys Lab's Intellectual
                  Property, in whole or in part, to Licensee. All rights in
                  Avensys Lab's Intellectual Property not expressly licensed to
                  Licensee are hereby reserved by Avensys Lab.

         6.2      The parties agree that in the absence of any contrary written
                  agreement between the parties, the Intellectual Property in
                  Avensys Lab's Intellectual Property, in any Prototypes and in
                  any Patent Improvements and, in particular, in the results of
                  all development work carried out by Avensys Lab in accordance
                  with Sections 4 and 5, to the extent they are novel or
                  otherwise protectable by Intellectual Property rights, shall,
                  as between Avensys Lab and Licensee, be owned by Avensys Lab.

         6.3      Licensee hereby assigns to Avensys Lab any right it may have
                  in the Patent Improvements, effective upon their creation.

         6.4      The parties agree that all such Intellectual Property in the
                  Patent Improvements shall be subject to the terms of the
                  exclusive license granted to Licensee by Avensys Lab pursuant
                  to Section 2.1 hereof.

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         6.5      Avensys Lab shall be responsible to file, prosecute and
                  maintain Avensys Lab's Intellectual Property and any
                  Intellectual Property it may have in the Patent Improvements,
                  and bear all costs incurred in respect of the same.

         6.6      Licensee shall, upon request of Avensys Lab, from time to
                  time, execute all instruments or documents and render such
                  other assistance, at Avensys Lab's expense, as Avensys Lab may
                  reasonably request in order to maintain any such Intellectual
                  Property.

         6.7      The parties agree that, in the absence of any contrary written
                  agreement between the parties, the Intellectual Property in
                  the Processes shall, as between Avensys Lab and Licensee, be
                  owned by Licensee.

         6.8      Avensys Lab hereby assigns to Licensee any Intellectual
                  Property it may have in the Processes or in the Process
                  Improvements, effective upon their creation.

7.       COMPENSATION

         7.1      Royalty Rate

                  Licensee shall pay the royalty set out in Schedule 7.1 on all
                  Revenue (the "Royalty") in consideration of the licenses
                  granted to it by Avensys Lab pursuant to Sections 2.1 and 2.2
                  and the research and development conducted pursuant to Section
                  4.

         7.2      Reduction for Third Party Royalties

                  In the event that Licensee, in its reasonable judgment,
                  determines it to be necessary or desirable to license in third
                  party patents or technology relating to any Products and is
                  required to pay royalties to one or more third parties in
                  respect of such patents or technology in order to enable
                  Licensee to realize Revenue, then the royalties otherwise
                  payable to Avensys Lab in respect of such Revenue shall be
                  reduced by agreement between the parties, having regard to the
                  royalties to be paid to such third parties and the relative
                  value of each of the Intellectual Property and such third
                  parties' patents or technology to the Products and/or other
                  technology generating Revenue; provided, however, that in no
                  event shall such reduction exceed 50% of the Royalty on such
                  Revenue otherwise due to Avensys Lab.

         7.3      Payment

                  7.3.1    Payment of the Royalty shall be made within sixty
                           (60) days following the end of each quarter.

                  7.3.2    All royalties shall be payable to Avensys Lab and
                           will be delivered to the address and bank account
                           information set out in Schedule 7.3.2; provided,
                           however, that Avensys Lab may change said address and
                           bank account information and give written notice

                                       11
<PAGE>

                           thereof to Licensee at least thirty (30) days prior
                           to such change. In such case, Licensee shall make
                           payment to such notified address and bank account.

         7.4      Single Royalty

                  It is understood that in no event shall more than one royalty
                  be payable under this Section 6 with respect to a particular
                  unit of any Product.

         7.5      Tax

                  7.5.1    All amounts and payments under this Agreement are
                           exclusive of any tax, duty, levy, or similar
                           government charge that may be assessed by any
                           jurisdiction, whether based on gross revenue, the
                           license, Sale or other exploitation of Avensys Lab's
                           Intellectual Property or the Products, the execution
                           of this Agreement or otherwise, except for those
                           based on either party's net income.

                  7.5.2    In the event any invoices are issued under this
                           Agreement, such invoice will include any applicable
                           tax that may be assessable on the charges set forth
                           therein.

8.       PURSUIT AND MAINTENANCE OF PATENT AND TRADE-MARKS RIGHTS

         8.1      Patents

                  8.1.1    Avensys Lab shall file, prosecute and maintain the
                           Patent rights and bear all costs incurred in respect
                           of the same.

                  8.1.2    Avensys Lab agrees to keep Licensee informed as to
                           the status of the Patents and, upon request, shall
                           provide Licensee with copies of all filings and
                           correspondence of a substantive nature with respect
                           to Patents or Patent applications and copies of all
                           correspondence of a substantive nature that Avensys
                           Lab receives with respect to the Patents.

         8.2      Trade-Marks

                  8.2.1    Avensys Lab shall maintain the registrations for the
                           Trade-Marks for so long as Licensee uses the
                           Trade-Marks. The costs associated with the
                           maintenance of the registrations for the Trade-Marks
                           shall be borne by Avensys Lab.

                  8.2.2    Licensee shall execute all instruments or documents
                           and render such other assistance, at Avensys Lab's
                           expense, as Avensys Lab may reasonably request in
                           order to maintain the Trade-Marks.

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<PAGE>

9.       INFRINGEMENTS

         9.1      Duty to inform

                  9.1.1    Each party undertakes to inform the other party
                           promptly of (i) any infringement or threatened
                           infringement by a third party of any Intellectual
                           Property rights of either party and (ii) of any claim
                           of any infringement of any Intellectual Property
                           rights of either party made by a third party which
                           comes to its attention.

                  9.1.2    Avensys Lab undertakes to immediately inform Licensee
                           if a Patent is issued, denied, not granted or
                           declared null, invalid or void.

         9.2      Infringement by Third Parties

                  9.2.1    If any of Avensys Lab's Intellectual Property is
                           infringed by a third party, Avensys Lab and Licensee
                           will decide the course of action to take in order to
                           put an end to the infringement and/or to seize any
                           product manufactured, marketed, distributed or sold
                           in violation of Avensys Lab's Intellectual Property.

                  9.2.2    If Avensys Lab judges in its reasonable discretion
                           that Avensys Lab's Intellectual Property rights were
                           infringed upon by a third party, it shall take any
                           and all necessary measures it deems reasonable in the
                           circumstances, without any obligation to do so, at
                           its own cost and expense including institution of
                           legal proceedings within ninety (90) days after
                           gaining knowledge thereof on its own or receipt of a
                           notice from Licensee. Avensys Lab shall keep Licensee
                           informed regarding the progress of such necessary
                           measures. Licensee shall have the right to
                           participate in such legal proceedings or settlement
                           negotiations at its own cost and expense and by
                           counsel of its own choice; provided that Avensys Lab
                           shall not have the right to settle, compromise or
                           take any action in any dispute which diminishes,
                           limits or inhibits the scope, validity or
                           enforceability of Avensys Lab's Intellectual Property
                           without the express written consent of Licensee.

                  9.2.3    Licensee shall have the right at its own cost and
                           expense and by counsel of its own choice to institute
                           and prosecute legal proceedings against suspected
                           infringers of Avensys Lab's Intellectual Property
                           rights as Licensee may deem necessary or desirable to
                           safeguard its rights under this Agreement if Avensys
                           Lab does not institute legal proceedings within
                           ninety (90) days after gaining knowledge thereof by
                           Avensys Lab on its own or receipt of a notice from
                           Licensee sufficiently detailed to institute such
                           legal proceedings. In such case, Licensee shall keep
                           all proceeds resulting from such legal proceedings
                           and shall have the right to settle such proceedings
                           save and except if such settlement includes any
                           invalidation of any Avensys Lab's Intellectual
                           Property. During the course of any such proceedings,

                                       13
<PAGE>

                           Licensee shall keep Avensys Lab informed regarding
                           progress of the proceedings, and Avensys Lab shall
                           fully provide necessary support and cooperation at
                           Licensee's expense. Avensys Lab shall have the right
                           to participate in such proceedings or settlement
                           discussions at its cost with counsel of its choice.
                           The parties agree that any costs and expenses
                           incurred by Licensee as a result of such proceedings
                           shall be set off against Licensee's Royalty payment
                           obligations under this Agreement.

         9.3      Infringement of Third Parties' Rights

                  9.3.1    Avensys Lab undertakes to indemnify and reimburse
                           Licensee within thirty (30) days from the date of
                           relevant notice for all sums it may have to pay as
                           damages, interests and costs to a third party as a
                           result of any final judgment or settlement agreed to
                           in writing by Avensys Lab and brought against
                           Licensee on the grounds that any Product manufactured
                           under Avensys Lab's Intellectual Property breaches
                           any Patent whatsoever or infringes upon or violates
                           the intellectual property rights of one or more third
                           parties.

                  9.3.2    Notwithstanding the above and anything to the
                           contrary in the Agreement, Avensys Lab'
                           indemnification shall not extend to claim(s),
                           lawsuit(s), judgment(s), or settlement(s) relating to
                           any enhancement of Avensys Lab's Intellectual
                           Property.

10.      TERM AND TERMINATION

         10.1     Term

                  10.1.1   The Agreement enters into force as of the date hereof
                           and shall continue, unless earlier terminated in
                           accordance with the other provisions of this Section
                           10, for an initial term of ten (10) years.

                  10.1.2   Subsequently, this Agreement will automatically renew
                           for successive five (5) year periods unless, at least
                           ninety (90) days' prior to the beginning of any
                           renewal term, one party gives the other party written
                           notice of its intent to terminate the Agreement.

         10.2     Termination for Material Breach

                  The Agreement may be terminated by each party, by sending
                  notice of termination in writing to the other party, in case
                  of any material breach of any of the terms or conditions of
                  this Agreement by the other party, if such party fails to
                  remedy such breach or default within thirty (30) days after
                  receipt of written notice thereof from the other party hereto.

                                       14
<PAGE>

         10.3     Termination for Insolvency

                  10.3.1   Subject to applicable law to the contrary, Avensys
                           Lab or Licensee may terminate this Agreement upon
                           written notice to the other party if the other party
                           (i) makes a general assignment for the benefit of
                           creditors, (ii) is the subject of proceedings in
                           voluntary or involuntary bankruptcy or (iii) has a
                           receiver or trustee appointed for substantially all
                           of its property; provided that in the case of an
                           involuntary bankruptcy proceeding such right to
                           terminate shall only become effective if the other
                           party consents thereto or such proceeding is not
                           dismissed within sixty (60) days after the filing
                           thereof.

                  10.3.2   Each of the parties hereto acknowledges and agrees,
                           subject to applicable law to the contrary, that this
                           Agreement (i) constitutes a license of Intellectual
                           Property (as such term is defined in the United
                           States Bankruptcy Code, as amended (the "Code")), and
                           (ii) is an executory contract, with significant
                           obligations to be performed by each party hereto.

                  10.3.3   The parties agree that Licensee may fully exercise
                           all of its rights and elections under the Code, if
                           any, including, without limitation, those set forth
                           in Section 365(n) of the Code.

                  10.3.4   The parties further agree that, in the event that
                           Licensee retains its rights as a licensee under the
                           Code pursuant to such an exercise, Licensee shall be
                           entitled to complete access to any Intellectual
                           Property licensed to it hereunder and all embodiments
                           of such Intellectual Property. Subject to applicable
                           law to the contrary, such embodiments of the
                           Intellectual Property shall be delivered to Licensee
                           not later than (i) the commencement of bankruptcy
                           proceedings against Avensys Lab, unless Avensys Lab
                           elects to perform its obligations under this
                           Agreement, or (ii) if not delivered under (i) above,
                           upon the rejection of this Agreement by or on behalf
                           of Avensys Lab.

         10.4     Effect of Termination

                  10.4.1   In case of expiration or termination of this
                           Agreement under this Section 10:

                           10.4.1.1 all licenses granted hereunder shall
                                    terminate and all rights of Licensee to Sell
                                    the Products will cease as of the date of
                                    such expiration or termination; and

                           10.4.1.2 each party will destroy or return all copies
                                    of the other party's Confidential
                                    Information in its possession and provide
                                    such other party with a certificate signed
                                    by a duly authorized officer attesting to
                                    such destruction or return.

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<PAGE>

                  10.4.2   The expiration or termination shall not:

                           10.4.2.1 affect any party's financial obligation to
                                    make any required payments hereunder; and

                           10.4.2.2 release either party hereto from any
                                    liability which at the time of such
                                    termination has already accrued to the other
                                    party.

11.      CONFIDENTIALITY

         11.1     Confidential Information

                  For the purposes of this Agreement, "Confidential Information"
                  means the provisions of this Agreement and information about
                  the disclosing party's business or activities that is
                  proprietary and confidential, which shall include all
                  information regarding the Intellectual Property, the Products,
                  all business, financial, technical and other information of a
                  party marked or designated by such party as "confidential" or
                  "proprietary" or information which, by the nature of the
                  circumstances surrounding the disclosure, should in good faith
                  to be treated as confidential.

         11.2     Exceptions

                  Notwithstanding the foregoing, Confidential Information will
                  not include information which: (i) is now, or hereafter
                  becomes, through no act or failure to act on the part of the
                  receiving party, generally known or available to the public;
                  (ii) is acquired by the receiving party before receiving such
                  information from the disclosing party and without restriction
                  as to use or disclosure; (iii) is hereafter rightfully
                  furnished to the receiving party by a third party, without
                  restriction as to use or disclosure; (iv) is information which
                  the receiving party can document was independently developed
                  by the receiving party without use of or reference to the
                  disclosing party's Confidential Information; (v) is required
                  to be disclosed by applicable law, provided that the receiving
                  party uses reasonable efforts to give the disclosing party
                  reasonable notice of such required disclosure and an
                  opportunity to obtain a protective order or other appropriate
                  remedy; or (vi) is disclosed with the prior written consent of
                  the disclosing party.

         11.3     Nondisclosure Obligations

                  During the term of this Agreement and for a period of five (5)
                  years thereafter, each party agrees (i) that it will not
                  disclose to any third party or use any Confidential
                  Information disclosed to it by the other except as expressly
                  permitted in this Agreement and (ii) that it will take all
                  reasonable measures to maintain the confidentiality of all
                  Confidential Information of the other party in its possession
                  or control, which will in no event be less than the measures
                  it uses to maintain the confidentiality of its own information
                  of similar importance. Either party may disclose the terms of
                  this Agreement to potential investors, lenders or acquisition

                                       16
<PAGE>

                  partners and their representatives, provided that disclosure
                  is made pursuant to customary non-disclosure agreements
                  limiting the recipient's use of disclosed information to the
                  evaluation of the potential investment, loan or acquisition.

         11.4     Return

                  Upon the disclosing party's request, the receiving party will
                  promptly return to the disclosing party all tangible items
                  containing or consisting of the disclosing party's
                  Confidential Information and all copies thereof, including,
                  but not limited to software, training materials, etc.

         11.5     Injunctive Relief

                  Each party acknowledges that all of the disclosing party's
                  Confidential Information is owned solely by the disclosing
                  party (or its licensors) and that the unauthorized disclosure
                  or use of such Confidential Information would cause
                  irreparable harm and significant injury to the disclosing
                  party, the degree of which may be difficult to ascertain.
                  Accordingly, each party agrees that the disclosing party will
                  have the right to obtain an immediate injunction enjoining any
                  breach of this Section, as well as the right to pursue any and
                  all other rights and remedies available at law or in equity in
                  the event of such a breach.

12.      REPRESENTATIONS AND WARRANTIES

         12.1     Mutual representations and warranties

                  Each of the parties represents and warrants to the other party
                  that:

                  12.1.1   it is duly incorporated, organized and validly
                           existing and in good standing under the Laws of its
                           jurisdiction of incorporation;

                  12.1.2   it has good and sufficient power, authority and right
                           to enter into and deliver this Agreement;

                  12.1.3   this Agreement has been duly executed and delivered
                           by it, and is a valid and binding obligation of such
                           party enforceable in accordance with its terms;

                  12.1.4   it has not entered into any contract, arrangement or
                           understanding with any other person or entity, and
                           will not do so during the term of this Agreement,
                           that does or may impair or diminish its ability to
                           fully perform, be responsible for and meet all the
                           obligations and liabilities to it set forth in this
                           Agreement;

                  12.1.5   it has no pending or anticipated litigation, action
                           or proceeding before any court, tribunal or person
                           relating to any matter or thing that may affect its
                           ability to fully perform, be responsible for and meet
                           all the obligations and liabilities set forth in this
                           Agreement; and

                                       17
<PAGE>

                  12.1.6   it has, and will fully maintain at its own cost, all
                           the necessary and appropriate authorizations and
                           permissions to fully perform, be responsible for and
                           meet all the obligations and liabilities relating to
                           it set forth in this Agreement.

         12.2     Avensys Lab's Representations and Warranties

                  Avensys Lab represents and warrants to Licensee that:

                  12.2.1   it has the right to grant the rights and licenses
                           granted to Licensee herein without breach of
                           obligation to any third party;

                  12.2.2   to the best of its knowledge, Avensys Lab's
                           Intellectual Property does not infringe on any
                           existing intellectual property right of any third
                           party;

                  12.2.3   it has not received any notice from any person or
                           entity that Avensys Lab's Intellectual Property
                           infringes upon an intellectual property right of any
                           third party; and

                  12.2.4   it will use reliable equipment and agrees to acquire
                           and/or maintain the facilities, equipment and staff
                           as appropriate to effectively carry out its research
                           and development.

         12.3     Licensee's Representations and Warranties

                  Licensee represents and warrants to Avensys Lab that:

                  12.3.1   it has and/or will acquire and maintain all license
                           and permits required in order to manufacture, use or
                           Sell the Products.

13.      LIMITATION OF LIABILITY

         IN NO EVENT SHALL EITHER PARTY HAVE ANY LIABILITY TO THE OTHER PARTY
         FOR ANY LOST PROFITS OR COSTS OF PROCUREMENT OF SUBSTITUTE GOODS OR
         SERVICES, OR FOR ANY INDIRECT, SPECIAL OR CONSEQUENTIAL DAMAGES HOWEVER
         CAUSED AND UNDER ANY THEORY OF LIABILITY (INCLUDING CONTRACT, TORT,
         CIVIL LIABILITY, DELICT, QUASI-DELICT, NEGLIGENCE OR OTHERWISE) AND
         WHETHER OR NOT SUCH PARTY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH
         DAMAGE. EXCEPT FOR (I) AMOUNTS PAYABLE BY LICENSEE UNDER THIS
         AGREEMENT, (II) LICENSEE'S OR AVENSYS LAB'S BREACH OF ITS OBLIGATIONS
         UNDER SECTION 11 OR OF THEIR RESPECTIVE REPRESENTATIONS UNDER SECTION
         12 OF THIS AGREEMENT, AND (III) LIABILITY ARISING UNDER SECTION 14, IN
         NO EVENT WILL EITHER PARTY'S LIABILITY ARISING OUT OF THIS AGREEMENT OR

                                       18
<PAGE>

         THE USE, MANUFACTURE OR SALE OF THE PRODUCTS EXCEED THE GREATER OF
         $50,000 OR THE AGGREGATE OF AMOUNTS ACTUALLY PAID BY LICENSEE UNDER
         THIS AGREEMENT, HOWEVER SUCH LIABILITY IS CAUSED AND UNDER ANY THEORY
         OF LIABILITY AND WHETHER OR NOT SUCH PARTY HAS BEEN ADVISED OF THE
         POSSIBILITY OF SUCH DAMAGE. THE PARTIES AGREE THAT THIS SECTION
         REPRESENTS A REASONABLE ALLOCATION OF RISK.

14.      INDEMNIFICATION

         14.1     Indemnification by Licensee

                  Subject to Section 14.3, Licensee hereby agrees to indemnify
                  and hold Avensys Lab and its parent, affiliates and their
                  respective successors, officers, directors, employees and
                  agents harmless from and against any and all actions, claims,
                  losses, damages, liabilities, awards, costs and expenses
                  (including reasonable lawyer's fees) arising out of any claim
                  or suit brought against Licensee by a third party resulting
                  from Licensee's Sale of the Products in a manner which is
                  inconsistent with the terms of this Agreement.

         14.2     Indemnification by Avensys Lab

                  14.2.1   Subject to Section 14.3, Avensys Lab shall indemnify
                           and hold Licensee and its and its parent, affiliates
                           and their respective successors, officers, directors,
                           employees and agents harmless from and against any
                           and all actions, claims, losses, damages,
                           liabilities, awards, costs, and expenses (including
                           reasonable lawyer's fees) resulting from or arising
                           out of Avensys Lab's Intellectual Property, or which
                           is based on a claim of infringement against Avensys
                           Lab's Intellectual Property underlying the Products
                           and Avensys Lab shall defend and settle, at its
                           expense, all suits or proceedings arising there from.

                  14.2.2   In the event an injunction is sought or obtained
                           against use of Avensys Lab's Intellectual Property
                           underlying the Products or in Licensee's opinion is
                           likely to be sought or obtained, Avensys Lab shall,
                           at its option and expense, either (i) procure for
                           Licensee the right to continue to Sell the Products,
                           or (ii) replace or modify Avensys Lab's Intellectual
                           Property to make its use non-infringing while being
                           capable of performing the same function without
                           degradation of performance.

         14.3     Notification and Cooperation

                  Each party's obligations to the other under Section 14.1 or
                  14.2 above is conditional upon (i) the indemnified party
                  notifying the other immediately in writing, upon knowledge of
                  any claim, for which it may be entitled to indemnification
                  under this Agreement; (ii) the indemnified party permitting
                  the other to have the sole right to control the defense and
                  settlement of any such claim; (iii) the indemnified party
                  making no admissions, oral or in writing; (iv) the indemnified

                                       19
<PAGE>

                  party providing reasonable assistance to the other, at the
                  other's expense, in the defense of such claim; and (v) the
                  indemnified party not entering into any settlement agreement
                  or otherwise settling any such claim without the other's
                  express prior consent or request. The indemnified party may
                  participate in the defense or settlement of a claim with
                  counsel of its own choice and at its own expense.

15.      PROJECT MANAGEMENT

         15.1     Project Managers

                  The primary technical/commercial contact for each party (each
                  a "Project Manager") will be:

                  For Avensys Lab:

                  Francois Seguin
                  V.P. R&D

                  For Licensee:

                  Aldo De Vito
                  Senior Director, operations

         15.2     Meetings

                  The Project Managers will meet at least every quarter to
                  discuss the on-going research and development conducted by
                  Avensys Lab in accordance with Sections 4 and 5, the Sale of
                  the Products and related Revenue, any technical or commercial
                  issues that may have arisen since the previous meeting and,
                  more generally, any other issue related to the performance of
                  this Agreement.

16.      GENERAL

         16.1     Public Announcement

                  Any public release to this Agreement shall be mutually agreed
                  upon by the parties.

         16.2     Relationship of the Parties

                  Each of the Parties hereto is an independent contractor.
                  Neither this Agreement, nor any terms and conditions contained
                  herein, shall be construed as (i) creating a partnership,
                  joint venture, franchise or agency relationship between the
                  parties or (ii) giving either party the authority to direct or
                  control the daily activities of the other party.

                                       20
<PAGE>

         16.3     Further Assurances

                  Each of the parties will from time to time execute and deliver
                  all such further documents and instruments and do all acts and
                  things as another party may reasonably require to effectively
                  carry out or better evidence or perfect the full intent and
                  meaning of this Agreement.

         16.4     Benefit of the Agreement

                  This Agreement will enure to the benefit of and be binding
                  upon the respective heirs, executors, administrators, other
                  legal representatives, successors and permitted assigns of the
                  parties.

         16.5     Entire Agreement

                  This Agreement constitutes the entire agreement between the
                  parties with respect to the subject matter hereof and cancels
                  and supersedes any prior understandings and agreements between
                  the parties with respect thereto, including the Entente Cadre
                  pour un ensemble de projets R&D entered into between the
                  parties on June 1st, 2005. There are no representations,
                  warranties, terms, conditions, undertakings or collateral
                  agreements, express, implied or statutory, between the parties
                  other than as expressly set forth in this Agreement.

         16.6     Amendments and Waivers

                  No amendment to this Agreement will be valid or binding unless
                  set forth in writing and duly executed by all the parties. No
                  waiver of any breach of any provision of this Agreement will
                  be effective or binding unless made in writing and signed by
                  the party purporting to give the same and, unless otherwise
                  provided in the written waiver, will be limited to the
                  specific breach waived.

         16.7     Assignment

                  16.7.1   Either party may assign this Agreement (i) to any of
                           its Affiliates which is capable of exercising its
                           rights and performing its obligations hereunder or
                           (ii) to any person which acquires control of it by
                           purchase of shares or with which it may merge or
                           consolidate or to which it may transfer all or
                           substantially all its assets or the portion of its
                           assets that relate to this Agreement.

                  16.7.2   Except as provided in Section 16.7.1, neither party
                           may assign the Agreement without the prior written
                           consent of the other party.

         16.8     Severability

                  If any provision of this Agreement is determined to be invalid
                  or unenforceable in whole or in part, such invalidity or
                  unenforceability will attach only to such provision or part
                  thereof and the remaining part of such provision and all other
                  provisions hereof will continue in full force and effect.

                                       21
<PAGE>

         16.9     Notices

                  Any demand, notice or other communication to be given in
                  connection with this Agreement shall be given in writing and
                  shall be given by personal delivery, by registered mail or by
                  electronic means of communication addressed to the recipient
                  as follows:

                  To Avensys Lab:

                  Avensys Laboratories Inc.
                  247, boulevard Thibeau
                  Trois-Rivieres, Quebec
                  G8T 6X9
                  Attention: Mr. Hassan Kassi, President

                  Telecopier: (514) 428-1433

                  To Licensee:

                  Avensys Inc.
                  880, Selkirk
                  Pointe-Claire, Quebec
                  H9R 3S3
                  Attention: Mr. Martin d'Amours, President and Chief Executive
                  Officer

                  Telecopier: (514) 428-1433

                  or to such other address, individual or electronic
                  communication number as may be designated by notice given by a
                  party to the others. Any demand, notice or other communication
                  given by personal delivery shall be conclusively presumed to
                  have been given on the day of actual delivery thereof and, if
                  given by registered or certified mail, on the third Business
                  Day following the deposit thereof in the mail and, if given by
                  electronic communication, on the day of successful transmittal
                  thereof if given during the normal business hours of the
                  recipient and on the Business Day during which such normal
                  business hours next occur if not given during such hours on
                  any day. If the party giving any demand, notice or other
                  communication knows or ought reasonably to have known of any
                  difficulties with the postal system which might affect the
                  delivery of mail, any such demand, notice or other
                  communication shall not be mailed but shall be given by
                  personal delivery or by electronic communication.

                                       22
<PAGE>

         16.10    Governing Law

                  This Agreement shall be governed by and construed in
                  accordance with the laws of the Province of Quebec and the
                  laws of Canada applicable therein.

         16.11    Counterparts

                  This Agreement may be executed in any number of counterparts,
                  each of which will be deemed to be an original and all of
                  which taken together will be deemed to constitute one and the
                  same instrument.

         16.12    Facsimiles

                  Delivery of an executed signature page to this Agreement by
                  any party by electronic transmission will be as effective as
                  delivery of a manually executed copy of the Agreement by such
                  party.

IN WITNESS WHEREOF, the parties hereto have executed this Agreement on the date
referred to above.

                                        AVENSYS LABORATORIES INC.

                                        Per: /s/ Hassan Kassi
                                             ----------------
                                             Hassan Kassi,
                                             President

                                        AVENSYS INC.

                                        Per: /s/ Martin d'Amours
                                             -------------------
                                             Martin d'Amours,
                                             President and Chief Executive
                                             Officer

                                       23SHAREHOLDER AGREEMENT

                            AMONG THE SHAREHOLDERS OF

                            AVENSYS LABORATORIES INC.

                                     ET AL.

                              McCarthy Tetrault LLP

                                 April 13, 2006

                                       1
<PAGE>

                                TABLE OF CONTENTS

1.    INTERPRETATION...........................................................3

   1.1      DEFINITIONS........................................................3
   1.2      HEADINGS...........................................................7
   1.3      EXTENDED MEANINGS..................................................7
   1.1      STATUTORY REFERENCES...............................................7
   1.4      ACCOUNTING PRINCIPLES..............................................7
   1.5      CURRENCY...........................................................7
   1.6      UNANIMOUS SHAREHOLDER AGREEMENT....................................8
   1.7      SCHEDULES..........................................................8

2.    TERMINATION OF ANY PRIOR AGREEMENT.......................................8

3.    MANAGEMENT...............................................................8

   3.1      CARRYING OUT OF THE AGREEMENT......................................8
   3.2      DIRECTORS..........................................................8
   3.3      MEETINGS OF DIRECTORS..............................................9
   3.4      APPROVAL OF MATTERS................................................9
   3.5      REPORTING REQUIREMENTS............................................11

4.    DEALING WITH SHARES.....................................................12

   4.1      REPRESENTATIONS AND WARRANTIES BY SHAREHOLDERS....................12
   4.2      GENERAL PROHIBITION ON TRANSFER...................................13
   4.3      TRANSFERS TO A CONTROLLED ENTITY..................................13
   4.4      TRANSFER TO AFFILIATES............................................14
   4.5      TRANSFERS BY A LIMITED PARTNERSHIP TO ITS LIMITED PARTNERS........14
   4.6      TRANSFER BY CELTIC................................................15
   4.7      RIGHT OF FIRST REFUSAL OF AVENSYS.................................15
   4.8      RIGHT OF FIRST REFUSAL OF THE PREFERRED HOLDERS...................17
   4.9      NO REGISTRATION OF TRANSFER UNLESS TRANSFEREE IS BOUND............19
   4.10     SPECIFIC PROHIBITIONS ON TRANSFER.................................20
   4.11     NEW SHAREHOLDERS..................................................20
   4.12     ENDORSEMENT ON CERTIFICATES.......................................21
   4.13     PUT OPTION........................................................21

5.    GENERAL.................................................................22

   5.1      NON-SOLICITATION..................................................22
   5.2      CONFIDENTIALITY...................................................22
   5.3      FURTHER ASSURANCES................................................23
   5.4      BENEFIT OF THE AGREEMENT..........................................23
   5.5      ENTIRE AGREEMENT..................................................23
   5.6      AMENDMENTS AND WAIVERS............................................23
   5.7      ASSIGNMENT........................................................23
   5.8      TERMINATION.......................................................23
   5.9      SEVERABILITY......................................................24
   5.10     NOTICES...........................................................24
   5.11     GOVERNING LAW.....................................................28
   5.12     COUNTERPARTS......................................................28
   5.13     FACSIMILES........................................................28

                                       2
<PAGE>

SHAREHOLDER AGREEMENT made as of April 13, 2006.

BETWEEN:          AVENSYS INC., ("Avensys") a company incorporated under Part 1A
                  of the Companies Act (Quebec), having its head office at 880,
                  Selkirk, Pointe-Claire, Quebec H9R 3S3, herein acting and
                  represented by its duly authorized representative as he so
                  declares,

AND:              INVESTISSEMENT TECHNOLOGIE (3599) INC., ("3599") a company
                  incorporated under Part 1A of the Companies Act (Quebec)
                  having its head office at 600, de la Gauchetiere West, Suite
                  1500, Montreal, Quebec H3B 4L8, herein acting and represented
                  by its duly authorized representative as he so declares,

AND:              ONTARIO TEACHERS' PENSION PLAN, ("OTPP") a corporation
                  governed by the laws of the Province of Ontario, having its
                  head office at 5650, Yonge Street, Toronto, Ontario M2M 4H5,
                  herein acting and represented by its duly authorized
                  representative as he so declares,

AND:              CELTIC HOUSE VENTURE PARTNERS FUND IIA LP, ("Celtic") a
                  limited partnership formed under the laws of the Province of
                  Ontario having its head office at 303 Terry Fox Drive, Suite
                  120, Kanata, Ontario K2K 3J1, represented by Celtic House
                  General Partner (Fund IIA) Inc., its general partner, herein
                  acting and represented by its duly authorized representative
                  as he so declares,

AND:              GTI V LIMITED PARTNERSHIP, ("GTI V") a limited partnership
                  formed under the laws of the Province of Quebec having its
                  head office at 255 Saint-Jacques Street, 2nd Floor, Montreal,
                  Quebec H2Y 1M6, represented by its general partner GTI V Inc.,
                  a corporation incorporated under the laws of the Province of
                  Quebec, herein acting and represented by its duly authorized
                  representative as he so declares,

AND:              GTI V (NR) LIMITED PARTNERSHIP, ("GTI V (NR)") a limited
                  partnership formed under the laws of the Province of Quebec
                  having its head office at 255 Saint-Jacques Street, 2nd Floor,
                  Montreal, Quebec H2Y 1M6, represented by its general partner
                  GTI V (NR) Inc., a corporation incorporated under the laws of
                  the Province of Quebec, herein acting and represented by its
                  duly authorized representative as he so declares,

                                       1
<PAGE>

AND:              BAY TECH VENTURE CAPITAL GMBH & CO. KG., ("Bay Tech") a
                  limited partnership incorporated under the laws of Germany
                  having its head office at Brienner Strasse 24, 80333, Munich,
                  Germany, herein acting and represented by its duly authorized
                  representative as he so declares, (3599, OTPP, Celtic, GTI V,
                  GTI V (NR) and Bay Tech collectively referred as the "ITF
                  Group" and individually as a "Preferred Holder")

AND:              MANARIS CORPORATION, ("Manaris") a corporation incorporated
                  under the laws of the state of Nevada, having a place of
                  business at 1155 Rene-Levesque West, Suite 2720, Montreal,
                  Quebec H3B 2K8, herein acting and represented by its duly
                  authorized representative as he so declares,

AND INTERVENING:  AVENSYS LABORATORIES INC., (the "Company" or "Avensys Lab") a
                  company incorporated under Part 1A of the Companies Act
                  (Quebec), having its head office at 247, boulevard Thibeau,
                  Trois-Rivieres, Quebec G8T 6X9, herein acting and represented
                  by its duly authorized representative as he so declares,

WHEREAS ITF Optical Technologies Inc. ("ITF"), Avensys, Avensys Lab and Manaris
have entered into an asset purchase agreement dated April 4, 2006, for the sale
by ITF to Avensys of certain assets associated with ITF's all-fiber photonics
solutions manufacturing business (the "Asset Purchase Agreement");

AND WHEREAS pursuant to the Asset Purchase Agreement, the purchase price payable
consists in part of Shares of Avensys Lab to be issued, at the direction of ITF,
to each Preferred Holder in the proportions set out in Section 2.4.3 of the
Asset Purchase Agreement;

AND WHEREAS it is a condition of closing of the sale of assets under the Asset
Purchase Agreement that the Shareholders and the Company enter into this
Agreement;

AND WHEREAS the authorized capital of the Company consists of an unlimited
number of common shares and of Class A, Class B, Class C, Class D and Class E
Preferred Shares of which 1,000,000 common shares, 500,000 Class A Preferred
Shares, and 2,000,000 Class E Preferred Shares are issued and outstanding;

AND WHEREAS the Shares of the Company are owned as follows:

                                       2
<PAGE>

<TABLE>
<CAPTION>
      Shareholders                Common Shares            Class A Preferred Shares    Class E Preferred Shares
      ------------                -------------            ------------------------    ------------------------
<S>                                 <C>                            <C>                        <C>
        Avensys                       420,000                      500,000                           --
         3599                         243,600                           --                      840,000
         OTPP                         127,600                           --                      440,000
        Celtic                         81,200                           --                      280,000
         GTI V                         41,296                           --                      142,400
      GTI V (NR)                       16,704                           --                       57,600
       Bay Tech                        69,600                           --                      240,000
                   TOTAL            1,000,000                      500,000                    2,000,000
</TABLE>

AND WHEREAS the Shareholders and the Company have agreed to enter into this
Agreement as being in their respective best interests and for the purpose of
providing for the operation of the Company;

NOW THEREFORE, in consideration of the premises and the covenants and agreements
herein contained, the parties agree as follows:

1.       INTERPRETATION

         1.1      Definitions

                  In this Agreement, unless something in the subject matter or
                  context is inconsistent therewith:

                  1.1.1    "Accountant" means the auditor or accountant, as the
                           case may be, of the Company appointed from time to
                           time.

                  1.1.2    "CBCA" means the Canada Business Corporations Act.

                  1.1.3    "Affiliate" means an affiliate within the meaning of
                           the CBCA.

                  1.1.4    "Agreement" means this agreement, including its
                           recitals and schedules, as amended from time to time.

                  1.1.5    "Business Day" means a day other than a Saturday,
                           Sunday or statutory holiday in Quebec.

                  1.1.6    "Competitor" means any Person which conducts a
                           business anywhere in the world which is similar to or
                           substantially similar to the business presently
                           conducted by the Company, that is, research in
                           connection with and development, manufacture,
                           marketing and sale of photonic components based on an
                           all-fiber technology platform (defined as using the

                                       3
<PAGE>

                           fiber as the constituent medium) for
                           telecommunications, fiber lasers or optical sensors
                           or which competes with the business carried on by the
                           Company or any of its Subsidiaries, during the term
                           of this Agreement.

                  1.1.7    "Control" means:

                           1.1.7.1  when applied to the relationship between a
                                    Person and a company, the ownership by such
                                    Person at the relevant time of shares of
                                    such company carrying more than the greater
                                    of (i) 50% of the voting rights ordinarily
                                    exercisable at meetings of shareholders of
                                    such company and (ii) the percentage of
                                    voting rights ordinarily exercisable at
                                    meetings of shareholders of such company
                                    that are sufficient to elect a majority of
                                    the directors of such company; and

                           1.1.7.2  when applied to the relationship between a
                                    Person and a partnership or joint venture,
                                    the beneficial ownership by such Person at
                                    the relevant time of more than 50% of the
                                    ownership interests of the partnership or
                                    joint venture in circumstances where it can
                                    reasonably be expected that such Person
                                    directs the affairs of the partnership or
                                    joint venture;

                           and the words "Controlled by", "Controlling" and
                           similar words have corresponding meanings; provided
                           that a Person (the "first-mentioned Person") who
                           Controls a company, partnership or joint venture (the
                           "second-mentioned Person") shall be deemed to Control
                           a company, partnership or joint venture which is
                           Controlled by the second-mentioned Person and so on;
                           and the words "Control Directly", "Directly Control"
                           and similar words mean Control otherwise than by
                           reason of the application of the deeming provision
                           and the words "Control Indirectly" and similar words
                           mean Control by reason of the application of this
                           deeming provision.

                  1.1.8    "Election Notice" has the meaning set out in Section
                           4.13.1.

                  1.1.9    "Income Tax Act" means the Income Tax Act (Canada).

                  1.1.10   "Intellectual Property" means all foreign and
                           domestic intellectual property rights and the subject
                           matter thereof, including or arising from, (i)
                           Patents; (ii) Technical Information; (iii) trademarks
                           and trademark rights, trade names, service marks,
                           brand names, certification marks, and other
                           indications of origin, whether registered or not, and
                           the goodwill associated therewith; (iv) copyrights,
                           whether registered or not, including without

                                       4
<PAGE>

                           limitation, computer programs and computer software
                           and all source and object code, algorithms,
                           architecture, structure, display screens, layouts and
                           development tools related thereto, promotional
                           materials and databases; (v) industrial designs,
                           whether registered or not; (vi) trade secrets and
                           other confidential or non-public information,
                           including inventions, designs, samples, schematics,
                           customer lists, supplier and dealer lists and
                           marketing research; (vii) internet protocol addresses
                           and domain names, whether or not used or currently in
                           service; (viii) any similar intellectual or
                           industrial property or proprietary rights; (ix)
                           registrations of, and applications to register or for
                           any of the foregoing, and any renewal, extension,
                           reissue, division, continuation or modification
                           thereof; (x) all documentation and media
                           constituting, describing or relating to the
                           foregoing, including without limitation manuals,
                           memoranda and records and the right to register any
                           of the foregoing; and "Intellectual Property Right"
                           shall mean any one of them.

                  1.1.11   "ITF Group" has the meaning set out in the preamble.

                  1.1.12   "Limited Partner" has the meaning set out in Section
                           4.5.

                  1.1.13   "Limited Partnership" has the meaning set out in
                           Section 4.5.

                  1.1.14   "Notice" has the meaning set out in Sections 4.7.1
                           and 4.8.1.

                  1.1.15   "Offered Shares" has the meaning set out in Sections
                           4.7.1 and 4.8.1.

                  1.1.16   "Offerees" has the meaning set out in Section 4.8.1.

                  1.1.17   "Offeror" has the respective meanings set out in
                           Sections 4.7.1 and 4.8.1.

                  1.1.18   "Patents" means all registered patents and pending
                           applications for patents throughout the world, owned
                           by the Company.

                  1.1.19   "Permitted Window" has the meaning set out in Section
                           4.13.1..

                  1.1.20   "Person" means an individual, partnership, limited
                           partnership, joint venture, trustee, trust,
                           corporation, company, unlimited liability company,
                           unincorporated organization or other entity or a
                           government, state or agency or political subdivision
                           thereof, and pronouns have a similarly extended
                           meaning.

                  1.1.21   "Put Option" has the meaning set out in Section
                           4.13.1.

                  1.1.22   "Preferred Holder" has the meaning set out in the
                           preamble.

                                       5
<PAGE>

                  1.1.23   "Rejected Shares" has the meaning set out in Section
                           4.8.3.

                  1.1.24   "Shareholders" means Avensys, 3599, OTPP, Celtic, GTI
                           V, GTI V (NR) and Bay Tech, together with such other
                           Persons as may become parties to this Agreement,
                           collectively and "Shareholder" means any one of such
                           Persons individually.

                  1.1.25   "Shares" means the shares of the Company that the
                           Shareholders own at the date hereof or hereafter.

                  1.1.26   "Subsidiary" means any legal entity Controlled by the
                           Company.

                  1.1.27   "Super Majority" means:

                           (a)      a resolution passed by not less than 75% of
                                    the votes cast by the Preferred Holders
                                    present in person or represented by proxy
                                    during a meeting called for the passing of
                                    such resolution pursuant to this Agreement;
                                    or

                           (b)      a written instrument signed by the holders
                                    of not less than 75% of the Shares owned by
                                    the Preferred Holders without the necessity
                                    of any meeting;

                           provided, however, that for greater clarity, such
                           percentage of Shares shall be calculated on the basis
                           of the Shares owned by the Preferred Holders only
                           without regard to or consideration of any other
                           shares of the Company that may at any time and from
                           time to time be issued and outstanding.

                  1.1.28   "Technical Information" means work in progress, data,
                           information, know-how, descriptions of unpatented
                           technology, techniques, systems, product roadmaps,
                           layouts and development tools related thereto, bills
                           of material, experience and other technical
                           information used by the Company, including
                           proprietary processes, specifications, formulae,
                           algorithms, models, user interfaces, concepts, ideas,
                           techniques, methods, source codes, object codes and
                           methodologies.

                  1.1.29   "Third Party Offer" has the meaning set out in
                           Sections 4.7.1 and 4.8.1.

                  1.1.30   "Transfer" means any sale, exchange, assignment,
                           gift, bequest, disposition, mortgage, hypothec,
                           charge, pledge, encumbrance, grant of security
                           interest, short sale, grant of any option, hedging or
                           similar transaction with the same economic effect as
                           a sale, monetization, securitization,

                                       6
<PAGE>

                           collateralization, delegation or other arrangement of
                           any nature whatsoever by which possession, legal
                           title, beneficial ownership, voting rights or other
                           attributes of ownership passes or may pass from one
                           Person to another, or to the same Person in a
                           different capacity, whether or not voluntary and
                           whether or not for value, and any agreement to effect
                           any of the foregoing and "Transferred",
                           "Transferring" and similar words have corresponding
                           meanings.

         1.2      Headings

                  The division of this Agreement into Articles and Sections and
                  the insertion of headings are for convenience of reference
                  only and shall not affect the construction or interpretation
                  of this Agreement. The terms "this Agreement", "hereof",
                  "hereunder" and similar expressions refer to this Agreement
                  and not to any particular Article, Section or other portion
                  hereof and include any amendment hereto. Unless something in
                  the subject matter or context is inconsistent therewith,
                  references herein to Articles or Sections are to Articles or
                  Sections of this Agreement.

         1.3      Extended Meanings

                  In this Agreement, words importing the singular number only
                  shall include the plural and vice versa, words importing the
                  masculine gender shall include the feminine and neuter genders
                  and vice versa and words importing persons shall include
                  individuals, partnerships, limited liability companies,
                  associations, trusts, unincorporated organizations and
                  companies.

         1.1      Statutory References

                  In this Agreement, unless something in the subject matter or
                  context is inconsistent therewith or unless otherwise herein
                  provided, a reference to any statute is to that statute as now
                  enacted or as the same may from time to time be amended,
                  re-enacted or replaced and includes any regulations made
                  thereunder.

         1.4      Accounting Principles

                  Wherever in this Agreement reference is made to a calculation
                  to be made in accordance with generally accepted accounting
                  principles ("GAAP"), such reference shall be deemed to be to
                  the generally accepted accounting principles in Canada from
                  time to time approved by the Canadian Institute of Chartered
                  Accountants, or any successor institute, applicable as at the
                  date on which such calculation is made or required to be made
                  in accordance with generally accepted accounting principles
                  and applied in a manner consistent with prior periods of the
                  Company.

         1.5      Currency

                  All references to currency herein are to lawful money of
                  Canada.

                                       7
<PAGE>

         1.6      Unanimous Shareholder Agreement

                  To the extent that this Agreement specifies that any matter
                  must be dealt with or approved by, or requires action by, the
                  Shareholders or otherwise has the effect of restricting in
                  whole or in part the powers of the directors to manage or to
                  supervise the management of the business and affairs of the
                  Company, the powers of the directors of the Company to manage
                  and to supervise the management of the business and affairs of
                  the Company with respect to such matters are correspondingly
                  restricted.

         1.7      Schedules

                  The following are the Schedules to this Agreement:

                  Schedule 4.11 - Intervention Form

2.       TERMINATION OF ANY PRIOR AGREEMENT

         Avensys hereby represents and warrants to the Preferred Holders that
         all agreements regarding the organization and affairs of the Company
         and/or the sale of any Shares of the Company under certain
         circumstances, whether written or oral, including the Convention
         unanime d'actionnaires dated June 1, 2005, have been validly
         terminated.

3.       MANAGEMENT

         3.1      Carrying out of the Agreement

                  3.1.1    The Shareholders will at all times carry out and
                           exercise their voting rights to cause the Company to
                           carry out the provisions of this Agreement.

                  3.1.2    The Shareholders shall each vote their Shares and act
                           in all other respects and shall cause their
                           respective nominees to the Board, to the extent
                           permitted by law, to vote and act in connection with
                           the corporate proceedings of the Corporation so as to
                           ensure that the provisions of this Agreement are
                           complied with.

                  3.1.3    The Company will carry out and be bound by the
                           provisions of this Agreement to the full extent that
                           it has the capacity and power at law to do so.

         3.2      Directors

                  3.2.1    The board of directors of the Company will consist of
                           three directors. Two nominees designated by Super
                           Majority of the ITF Group and one nominee designated
                           by Avensys will be the directors of the Company.

                                       8
<PAGE>

                  3.2.2    Each of the ITF Group and Avensys shall be entitled
                           at any time to remove any director nominated by it by
                           written notice to such director, to the Company and
                           to the other Shareholders. Any vacancy occurring on
                           the board by reason of death, disqualification,
                           inability to act, resignation or removal of any
                           director shall only be filled by nomination of the
                           ITF Group or Avensys, as the case may be, if its
                           nominee has died, become disqualified, is unable to
                           act, has resigned or has been removed. Forthwith upon
                           such nomination, the Shareholders shall elect the
                           director so nominated, provided he is otherwise
                           qualified under the CBCA and this Agreement, so as to
                           always maintain a board consisting of the nominees of
                           the ITF Group and Avensys as contemplated in Section
                           3.2.1 above.

                  3.2.3    The Company shall purchase and maintain directors'
                           liability insurance with coverage terms, conditions
                           and limits customary for similar companies, but in no
                           event less than $3,000,000.

         3.3      Meetings of Directors

                  3.3.1    A minimum of four (4) meetings of the board of
                           directors shall be held per fiscal year, with at
                           least one meeting held every fiscal quarter of the
                           Company.

                  3.3.2    A quorum for any and all meetings of the board of
                           directors shall consist of two directors.

         3.4      Approval of Matters

                  3.4.1    The Company may not take any of the following actions
                           (i) without the written approval of the Shareholders
                           holding 66 2/3 % or more of the voting rights
                           attached to the issued and outstanding Shares and
                           (ii) without having obtained all consents required by
                           law or by the articles or by-laws of the Company:

                           3.4.1.1  any change in the articles or by-laws of the
                                    Company;

                           3.4.1.2  any change in the authorized or issued
                                    capital of the Company;

                           3.4.1.3  the entering into of any agreement or the
                                    making of any offer or the granting of any
                                    right capable of becoming an agreement to
                                    allot or issue any shares or other
                                    securities of the Company;

                           3.4.1.4  any action that may lead to or result in a
                                    material change in the nature of the
                                    business of the Company, including the
                                    change in location of the head office or one
                                    of the principal places of business of the
                                    Company;

                                       9
<PAGE>

                           3.4.1.5  the taking of any steps to wind-up or
                                    terminate the corporate existence of the
                                    Company;

                           3.4.1.6  the sale, lease, exchange or disposition of
                                    the entire undertaking or assets of the
                                    Company or any substantial part thereof;

                           3.4.1.7  the sale, lease, exchange or disposition of
                                    any assets of the Company to, or the dealing
                                    in any other way with, any person not at
                                    arm's length (as defined in the Income Tax
                                    Act) with the Company unless any transaction
                                    relating thereto is on terms as least as
                                    favourable to the Company as the terms it
                                    would obtain if such transaction were with a
                                    person dealing at arm's length with the
                                    Company;

                           3.4.1.8  the sale, exchange, disposition or license
                                    of any Intellectual Property belonging to
                                    the Company outside of the ordinary course
                                    of business;

                           3.4.1.9  the making of loans or advances to, or the
                                    giving of security for, or the guaranteeing
                                    of the debts of, any Person directly or
                                    indirectly;

                           3.4.1.10 any change in the number of directors;

                           3.4.1.11 the appointment or change of officers and
                                    management employees of the Company;

                           3.4.1.12 the declaration or payment of any dividend;

                           3.4.1.13 the taking, holding, subscribing for or
                                    agreeing to purchase or acquire shares in
                                    the capital of any body corporate;

                           3.4.1.14 the entering into of an amalgamation, merger
                                    or consolidation with any other body
                                    corporate, or the creation of a Subsidiary;

                           3.4.1.15 the change in the financial year end of the
                                    Company;

                           3.4.1.16 any change to the License Agreement to be
                                    entered into concurrently herewith between
                                    Avensys and the Company; and

                                       10
<PAGE>

                           3.4.1.17 any consent to the specific prohibitions on
                                    the Transfers of Shares set out in Section
                                    4.10.

                  3.4.2    In order to obtain the consents required under
                           Section 3.4.1, the Company must send to each of the
                           Shareholders a notice given in accordance with
                           Section 5.10 detailing the action, decision,
                           resolution or by-law requiring their consent. The
                           Shareholders shall exercise their right provided for
                           in 3.4.1 by notifying the Company of their decision
                           as soon as possible following the receipt of the
                           notice. If any Shareholder fails to notify the
                           Company of its decision within the 15 Business Day
                           period following the receipt of such notice from the
                           Company, such Shareholder shall be deemed to have
                           approved such action, decision, resolution or by-law.

                  3.4.3    The Company shall provide to each Shareholder and
                           each director, promptly following the receipt
                           thereof, a copy of any notice, letter or other
                           document informing the Company of the institution or
                           contestation of any legal proceeding involving the
                           Company other than actions on account and actions
                           involving claims of less than $25,000 which are not
                           related to Intellectual Property.

                  3.4.4    Upon the creation of a Subsidiary, this Section 3
                           shall apply mutatis mutandis to the conduct of the
                           affairs and business of such Subsidiary.

                  3.4.5    In the event that either Avensys or Manaris, as the
                           case may be, is in default in fulfilling its
                           obligations under Section 4.13, then Sections 3.4.1
                           and 3.4.2 shall be deemed automatically terminated in
                           their entirety upon written notice by any Preferred
                           Holder to the Company advising the Company of such
                           default.

         3.5      Reporting Requirements

                  The Company shall provide to each of the Shareholders (a)
                  unaudited unconsolidated quarterly financial statements for
                  the Company prepared in accordance with GAAP, together with a
                  Management Discussion and Analysis thereto, within 30 days
                  after the end of each quarter, and (b) audited unconsolidated
                  annual financial statements of the Company prepared in
                  accordance with GAAP, together with a Management Discussion
                  and Analysis thereto, within 90 days after the end of each
                  fiscal year end.

                                       11
<PAGE>

4.       DEALING WITH SHARES

         4.1      Representations and Warranties by Shareholders

                  Each Shareholder represents and warrants:

                  4.1.1    that such Shareholder exclusively owns the number of
                           Shares which are expressed to be owned by him/it in
                           the preamble to this Agreement and that such Shares
                           are not subject to any hypothec, mortgage, lien,
                           charge, pledge, encumbrance, security interest or
                           adverse claim and that, except in connection with any
                           Transfer permitted pursuant to Sections 4.3 through
                           4.11 (inclusively), no Person has any rights to
                           become a holder or possessor of any of such Shares or
                           of the certificates representing the same;

                  4.1.2    if such Shareholder is an individual, that he has the
                           capacity to enter into and give full effect to this
                           Agreement;

                  4.1.3    if such Shareholder is a corporation or company, that
                           it is duly incorporated and validly existing under
                           the laws of its jurisdiction of incorporation and
                           that it has the corporate power and capacity to own
                           its assets and to enter into and perform its
                           obligations under this Agreement;

                  4.1.4    if such Shareholder is a trust, partnership or joint
                           venture, that it is duly constituted under the laws
                           which govern it and that it has the power to own its
                           assets and to enter into and perform its obligations
                           under this Agreement;

                  4.1.5    that this Agreement has been duly authorized by it,
                           duly executed and delivered by him or it, as the case
                           may be, and constitutes a valid and binding
                           obligation enforceable in accordance with its terms,
                           subject to the usual exceptions as to bankruptcy and
                           the availability of equitable remedies;

                  4.1.6    that the execution, delivery and performance of this
                           Agreement does not and will not contravene the
                           provisions of its articles, by-laws, constating
                           documents or other organizational documents or the
                           documents by which it was created or established or
                           the provisions of any indenture, agreement or other
                           instrument to which he or it is a party or by which
                           he or it may be bound and the violation of which
                           would invalidate the execution, delivery and
                           performance of this Agreement by such Shareholder;
                           and

                                       12
<PAGE>

                  4.1.7    that all of the foregoing representations and
                           warranties will continue to be true and correct
                           during the term of this Agreement.

         4.2      General Prohibition on Transfer

                  Except as expressly provided in this Article 4, no Shareholder
                  may Transfer the Shares that such Shareholder owns, or the
                  Shareholder's rights under this Agreement, unless prior to
                  doing so the other Shareholders consent in writing. The
                  provisions of this Section 4.2 will apply to any Transfer of
                  Shares even if the Shareholder is Transferring such Shares
                  together with or in conjunction with other assets.

         4.3      Transfers to a Controlled Entity

                  Notwithstanding any provision of this Agreement other than
                  Section 4.10, each Shareholder may at any time and from time
                  to time Transfer all or any of its Shares to a Controlled
                  Entity thereof provided that:

                  4.3.1    the Controlled Entity and the Shareholder shall have
                           executed and delivered an instrument, in form and
                           substance satisfactory to legal counsel to the
                           Company, which contains a representation and warranty
                           by the Controlled Entity and the Shareholder that (i)
                           the Controlled Entity is Controlled by the
                           Shareholder in question and sets out particular as to
                           the manner in which the Controlled Entity is a
                           Controlled Entity of the Shareholder in question, and
                           (ii) no Shareholder of the Controlled Entity is a
                           Competitor;

                  4.3.2    the Controlled Entity shall have executed and
                           delivered an instrument, in form and substance
                           satisfactory to legal counsel to the Company, in
                           which the Controlled Entity makes the representations
                           and warranties made by the Shareholders in this
                           Agreement;

                  4.3.3    the Controlled Entity shall have executed an
                           intervention in the form of Schedule 4.11;

                  4.3.4    the Shareholder Transferring its Shares to a
                           Controlled Entity shall have executed and delivered
                           an instrument, in form and substance satisfactory to
                           legal counsel to the Company, in which the
                           Shareholder acknowledges and agrees to be bound,
                           solidarily with the Controlled Entity, by all the
                           representations, warranties and covenants of the
                           Controlled Entity hereunder, and both the Shareholder
                           and the Controlled Entity acknowledge and agree that
                           they shall, for the purposes of this Agreement, be
                           considered as one Shareholder; and

                  4.3.5    the Shareholder Transferring its Shares to a
                           Controlled Entity agrees to maintain Direct Control
                           at all times during the term of this Agreement of the
                           Controlled Entity, and not to permit the issuance of

                                       13
<PAGE>

                           any shares in the capital stock of the Controlled
                           Entity nor permit the Transfer of any such shares to
                           a third party, without the consent of the other
                           Shareholders, failing which the initial Transfer by
                           the Shareholder of its Shares to a Controlled Entity
                           shall be deemed to be and shall be in violation of
                           Section 4.3.1.

         4.4      Transfer to Affiliates

                  Notwithstanding any provision of this Agreement other than
                  Section 4.10, each Shareholder may, at any time and from time
                  to time, Transfer all or any of the Shares held by it to any
                  of its Affiliates. A Shareholder must first notify the Company
                  in writing of such Transfer including the proposed transferee
                  and the Company reserves the right to prohibit any such
                  Transfer to an Affiliate who is a Competitor of the Company
                  and provided that such transferee shall have executed and
                  delivered an instrument, in form and substance satisfactory to
                  legal counsel to the Company, in which such transferee makes
                  the representations and warranties made by the Shareholders in
                  this Agreement and agrees to execute an intervention in the
                  form of Schedule 4.11, it being understood and agreed that (i)
                  such transferee, if same had acquired all of the Shareholder's
                  Shares, shall benefit from all the rights of such Shareholder
                  hereunder, as if such transferee had executed this Agreement
                  in lieu and place of such Shareholder and (ii) that such
                  Shareholder shall cease to be bound by the provisions hereof
                  (except for Section 5.2 which shall continue to apply). In the
                  event that only part of the Shares held by such Shareholder
                  holding Shares are transferred to such transferee, such
                  Shareholder holding Shares shall continue to be bound by the
                  provisions hereof in respect of the remaining Shares it holds.

         4.5      Transfers by a Limited Partnership to its Limited Partners

                  Notwithstanding any provision of this Agreement other than
                  Section 4.10, each of Celtic, GTI V, GTI V (NR) or Bay Tech
                  (each a "Limited Partnership") may, at any time and from time
                  to time, Transfer all or any of the Shares held by it to any
                  of its limited partners (a "Limited Partner") if such Transfer
                  results from a distribution by the Limited Partnership or the
                  wind-up of the Limited Partnership, in accordance with the
                  provisions of the limited partnership agreement governing it
                  provided that:

                  4.5.1    the Limited Partner shall have executed and delivered
                           an instrument, in form and substance satisfactory to
                           legal counsel to the Company, in which the Limited
                           Partner makes the representations and warranties made
                           by the Shareholders under this Agreement and agrees
                           to execute an intervention in the form of Schedule
                           4.11;

                  4.5.2    the Limited Partner shall have executed and delivered
                           an instrument, in form and substance satisfactory to
                           legal counsel to the Company, in which the Limited
                           Partner grants to the general partner of the

                                       14
<PAGE>

                           transferring Limited Partnership, by way of
                           irrevocable and unconditional grant, the right to
                           vote the Shares transferred to the Limited Partner at
                           all meetings of Shareholders and the right to execute
                           all documents and to do all things which a
                           Shareholder is permitted or required to do under this
                           Agreement; and

                  4.5.3    in the event that only part of the Shares held by the
                           Limited Partnership are Transferred to one or more of
                           its Limited Partners, such Limited Partnership shall
                           continue to be bound by the terms hereof in respect
                           of the remaining Shares it holds.

         4.6      Transfer by Celtic

                  Notwithstanding any provision of this Agreement other than
                  Section 4.10, Celtic (including for greater certainty any
                  permitted transferee of Celtic or any successive transferee
                  pursuant to Section 4.3, 4.4 or 4.5) may at any time and from
                  time to time Transfer all or part of the Shares held by it to
                  (a) any fund under common management or control with Celtic
                  (or its successor by amalgamation), or whose manager or
                  general partner, as applicable, is the same as or an Affiliate
                  of the manager or general partner of Celtic (or its successor
                  by amalgamation); or (b) a partner or partners of any limited
                  partnership referred to in (a) above, if such Transfer results
                  from a distribution by the limited partnership or the wind-up
                  of the limited partnership in accordance with the provisions
                  of the limited partnership agreement governing it, or pursuant
                  to an agreement which requires such partner or partners to
                  Transfer such Shares to the limited partnership, provided in
                  each such case that such transferee is not a Competitor of the
                  Company and shall have executed and delivered an instrument,
                  in form and substance satisfactory to legal counsel to the
                  Company, in which such transferee makes the representations
                  and warranties made by the Shareholders under this Agreement
                  and any others required in the opinion of the Company to
                  comply with Section 4.10 and agrees to execute an intervention
                  in the form of Schedule 4.11, it being understood and agreed
                  that (i) such transferee, if same has acquired all of the
                  transferor's Shares, shall benefit from all the rights of such
                  transferor hereunder, as if such transferee had executed this
                  Agreement in lieu and place of such transferor and (ii) that
                  such transferor shall cease to be bound by the provisions
                  hereof (except for Section 5.2 which shall continue to apply).
                  In the event that only part of the Shares held by such
                  transferor are Transferred to such transferee, such transferor
                  shall continue to be bound by the provisions hereof in respect
                  of the remaining Shares it holds.

         4.7      Right of First Refusal of Avensys

                  4.7.1    Except as otherwise provided herein, Avensys (the
                           "Offeror") shall be permitted to Transfer Shares only
                           if it receives a bona fide written offer (a "Third
                           Party Offer") from a Person (the "Third Party
                           Offeror") dealing at arm's length (as defined in the
                           Income Tax Act) to purchase all and not less than all

                                       15
<PAGE>

                           of the Shares that it owns (the "Offered Shares").
                           The Third Party Offer must be a cash offer to
                           purchase only Shares and no other assets and provide
                           for the purchase of the Shares of the ITF Group for a
                           price equal to the greater of (a) the value of the
                           Shares of the ITF Group calculated on the basis of
                           the price per Offered Share set out in the Third
                           Party Offer or (b) $2,000,000. The Offeror shall give
                           a notice ("Notice") to the Company and the ITF Group
                           which Notice must contain a copy of the Third Party
                           Offer, disclose the identity of the Person making the
                           Third Party Offer and provide evidence sufficient to
                           establish that such Person has the power and
                           capacity, including financial capacity, to complete
                           the purchase of the Offered Shares and that the
                           conditions set out in Section 4.10 will be satisfied.
                           Upon the Notice being given, the ITF Group will have
                           the right, to be exercised within 30 days of receipt
                           of the Third Party Offer, to purchase all, but not
                           less than all, of the Offered Shares at the same
                           price and upon the same terms and conditions as are
                           contained in the Third Party Offer.

                  4.7.2    If the ITF Group is willing to purchase all, but not
                           less than all, of the Offered Shares as provided in
                           Section 4.7.1, the transaction of purchase and sale
                           will be completed in accordance with the terms set
                           out in the Third Party Offer by delivery of the
                           Offered Shares by the Offeror with good title, free
                           and clear of all liens, charges, encumbrances and any
                           other rights of others, against payment by certified
                           cheque or bank draft by the ITF Group. If, at the
                           time of completion, any Offered Shares are subject to
                           any lien, charge, encumbrance or other right of
                           others, the Offerees will be entitled to deduct from
                           the purchase money to be paid to the Offeror the
                           amount required to discharge all such liens, charges,
                           encumbrances or other rights of others and will apply
                           such amount to the repayment, on behalf of the
                           Offeror, of the obligations secured thereby.

                  4.7.3    If the ITF Group does not give notice that it wishes
                           to purchase the Offered Shares within 30 days of the
                           giving of the Notice, the rights of the ITF Group,
                           except as hereinafter provided, to purchase the
                           Offered Shares will terminate and Avensys and the ITF
                           Group must use their best efforts to sell to the
                           Third Party Offeror all, but not less than all, of
                           the Shares within 30 days after the expiry of the
                           30-day period. Any such sale must be at a price not
                           less than the purchase price contained in the Third
                           Party Offer and on other terms no more favourable to
                           Avensys than those contained in the Third Party
                           Offer.

                  4.7.4    If the Offeror defaults in transferring the Offered
                           Shares to the ITF Group as provided in this Section
                           4.7, the Company is authorized and directed to
                           receive the purchase money and thereupon to record
                           the transfer of the Offered Shares, to enter the
                           names of the ITF Group in the registers of the
                           Company as the holders of the Shares purchased by

                                       16
<PAGE>

                           them, and to cause to be issued to the ITF Group
                           share certificates for the Offered Shares in the
                           names of the respective Preferred Holders. The
                           Company will hold the purchase money received by it
                           in trust on behalf of the Offeror and will not
                           commingle the purchase money with the Company's
                           assets, except that any interest thereon will be for
                           the account of the Company. The receipt by the
                           Company of the purchase money will be a good
                           discharge to the respective Preferred Holders and,
                           after their names have been entered in the registers
                           of the Company, the transaction of purchase and sale
                           will be deemed completed at the price and on the
                           other terms and conditions contemplated herein and
                           the respective Preferred Holders will for all
                           purposes own the Offered Shares purchased by them.
                           Upon such registration, the Offeror will cease to
                           have any right to or in respect of the Offered Shares
                           except the right to receive, without interest, the
                           purchase price received by the Company upon surrender
                           of any certificates that previously represented the
                           Offered Shares.

         4.8      Right of First Refusal of the Preferred Holders

                  4.8.1    Except as otherwise provided herein, each Preferred
                           Holder (each an "Offeror") shall be permitted on and
                           after May 1, 2009 to Transfer Shares only if it
                           receives a bona fide written offer (a "Third Party
                           Offer") from a Person (the "Third Party Offeror")
                           dealing at arm's length (as defined in the Income Tax
                           Act) to purchase all and not less than all of the
                           Shares that it owns (the "Offered Shares"). The Third
                           Party Offer must be a cash offer to purchase only
                           Shares and no other assets. The Offeror shall give a
                           notice ("Notice") to the Company and the other
                           Shareholders (the "Offerees") which Notice must
                           contain a copy of the Third Party Offer, disclose the
                           identity of the Person making the Third Party Offer
                           and provide evidence sufficient to establish that
                           such Person has the power and capacity, including
                           financial, to complete the purchase of the Offered
                           Shares and that the conditions set out in Section
                           4.10 will be satisfied. Upon the Notice being given,
                           the Offerees will have the right, to be exercised
                           within 30 days of receipt of the Third Party Offer,
                           to purchase all, but not less than all, of the
                           Offered Shares at the same price and upon the same
                           terms and conditions as are contained in the Third
                           Party Offer.

                  4.8.2    The Offerees will be entitled to purchase the Offered
                           Shares pro rata based upon the number of Shares owned
                           by the Offerees at the date the Notice was given or
                           in such other proportion as the Offerees may agree in
                           writing. Each Offeree who desires to purchase all the
                           Offered Shares that such Offeree is entitled to
                           purchase in accordance with the provisions of this
                           Section 4.8.2 will give notice of such desire to the
                           Offeror, to the Company and to the other Offerees
                           within 30 days of having been given the Notice.

                                       17
<PAGE>

                  4.8.3    If any Offeree does not give notice as provided in
                           Section 4.8.2, the Offered Shares that such Offeree
                           had been entitled to purchase (the "Rejected Shares")
                           may instead be purchased by the Offerees who did give
                           such notice, pro rata based upon the number of Shares
                           owned by such Offerees at the date the Notice was
                           given or in such other proportion as such Offerees
                           may agree in writing, and, within five Business Days
                           of the expiry of the 30 day period specified in
                           Section 4.8.2, each Offeree who desires to purchase
                           all the Rejected Shares that such Offeree is entitled
                           to purchase in accordance with the provisions of this
                           Section 4.8.3 will give an additional notice to the
                           Offeror, to the Company and to the other Offerees. If
                           any Offeree entitled to give the additional notice
                           does not do so, the Rejected Shares that such Offeree
                           had been entitled to purchase may instead be
                           purchased by the Offerees who did give such
                           additional notice, pro rata based upon the number of
                           Shares owned by such Offerees at the date the Notice
                           was given or in such other proportion as such
                           Offerees may agree in writing, and so on from time to
                           time until the Offerees are willing to purchase all
                           the Offered Shares or until they are not willing to
                           purchase any more.

                  4.8.4    If the Offerees are willing to purchase all, but not
                           less than all, of the Offered Shares, the transaction
                           of purchase and sale will be completed in accordance
                           with the terms set out in the Third Party Offer by
                           delivery of the Offered Shares by the Offeror with
                           good title, free and clear of all liens, charges,
                           encumbrances and any other rights of others, against
                           payment by certified cheque or bank draft by the
                           Offerees. If, at the time of completion, any Offered
                           Shares are subject to any lien, charge, encumbrance
                           or other right of others, the Offerees will be
                           entitled to deduct from the purchase money to be paid
                           to the Offeror the amount required to discharge all
                           such liens, charges, encumbrances or other rights of
                           others and will apply such amount to the repayment,
                           on behalf of the Offeror, of the obligations secured
                           thereby.

                  4.8.5    If the Offeror defaults in transferring the Offered
                           Shares to the Offerees as provided in this Section
                           4.8, the Company is authorized and directed to
                           receive the purchase money and thereupon to record
                           the transfer of the Offered Shares, to enter the
                           names of the Offerees in the registers of the Company
                           as the holders of the Shares purchased by them, and
                           to cause to be issued to the Offerees share
                           certificates for the Offered Shares in the names of
                           such Offerees. The Company will hold the purchase
                           money received by it in trust on behalf of the
                           Offeror and will not commingle the purchase money
                           with the Company's assets, except that any interest

                                       18
<PAGE>

                           thereon will be for the account of the Company. The
                           receipt by the Company of the purchase money will be
                           a good discharge to the Offerees and, after their
                           names have been entered in the registers of the
                           Company, the transaction of purchase and sale will be
                           deemed completed at the price and on the other terms
                           and conditions contemplated herein and the Offerees
                           will for all purposes own the Offered Shares
                           purchased by them. Upon such registration, the
                           Offeror will cease to have any right to or in respect
                           of the Offered Shares except the right to receive,
                           without interest, the purchase price received by the
                           Company upon surrender of any certificates that
                           previously represented the Offered Shares.

                  4.8.6    If the Offerees do not give notice in accordance with
                           the provisions of Section 4.8.2 that they are willing
                           to purchase all and not less than all the Offered
                           Shares, the rights of the Offerees, except as
                           hereinafter provided, to purchase the Offered Shares
                           will terminate and the Offeror may sell all, but not
                           less than all, of the Offered Shares to any person
                           within four months after the expiry of the 30 day
                           period specified in Section 4.8.2 or the last of the
                           five Business Day periods specified in Section 4.8.3,
                           as the case may be. Any such sale must be at a price
                           not less than the purchase price contained in the
                           Third Party Offer and on other terms no more
                           favourable to such person than those contained in the
                           Third Party Offer. If the Offered Shares are not sold
                           within such four month period on such terms, the
                           rights of the Offerees pursuant to this Section 4.7
                           will again take effect.

         4.9      No Registration of Transfer Unless Transferee is Bound

                  If, pursuant to any provision of this Agreement, a Shareholder
                  Transfers any of such Shareholder's Shares, no Transfer of
                  such Shares shall be made nor shall be effective, and no
                  application shall be made to the Company or to the Company's
                  transfer agent to register the Transfer, and the Company shall
                  not register any such Transfer on the securities register of
                  the Company, until:

                  4.9.1    in the case of a Transfer contemplated by Sections
                           4.3, 4.4, 4.5, 4.6, 4.7 or 4.8 the documentation
                           referred to in those Sections has been delivered; and

                  4.9.2    in the case of any other Transfer, the proposed
                           transferee and the Person, if any, who Controls such
                           transferee, become subject to all of the obligations
                           of the transferor under this Agreement, pursuant to
                           an agreement in writing, in form and substance
                           satisfactory to the legal counsel of the Company. If
                           such transferee has acquired all of the Shares of the
                           transferor (in which case the proposed transferee
                           shall become entitled to exercise all the rights of
                           the transferor under this Agreement) he or it agrees
                           to be bound by all of the provisions hereof as if he
                           or it were an original signatory hereto in the place
                           of the transferor, pursuant to an agreement in
                           writing, in form and substance satisfactory to the
                           legal counsel of the Company whereupon the transferor
                           shall cease to have any rights or obligations
                           hereunder.

                                       19
<PAGE>

         4.10     Specific Prohibitions on Transfer

                  Notwithstanding the foregoing provisions of this Article 4,
                  without the prior written consent of Avensys Lab:

                  4.10.1   The Preferred Holders may not Transfer any or all
                           Shares owned by them within the first three years of
                           the date hereof if in the opinion of the Company, the
                           Company's qualification for research and development
                           tax credits would be imperilled; and

                  4.10.2   During the first three (3) years of this Agreement,
                           no Transfer of Shares may be made if:

                           4.10.2.1 the proposed purchaser or transferee or
                                    Person Controlling such purchaser or
                                    transferee is a Competitor;

                           4.10.2.2 as a result, the remaining Shareholders or
                                    the Company would become subject to any
                                    governmental controls or regulations to
                                    which they were not subject prior to the
                                    proposed sale by reason of the nationality
                                    or residence of the proposed purchaser or
                                    transferee or Person Controlling such
                                    purchaser or transferee;

                           4.10.2.3 as a result, the remaining Shareholders or
                                    the Company would become subject to any
                                    taxation or additional taxation to which
                                    they were not subject prior to the proposed
                                    sale;

                           4.10.2.4 the sale or transfer is not permitted by
                                    applicable law or any term of any material
                                    agreement affecting the Company, unless any
                                    required consent or approval is obtained; or

                           4.10.2.5 the proposed purchaser or transferee does
                                    not have the power and capacity, including
                                    financial, to carry out its obligations
                                    under this Agreement to the satisfaction of
                                    the remaining Shareholders, acting
                                    reasonably.

         4.11     New Shareholders

                  No Shares may be issued or Transferred to a Person which is
                  not a Shareholder, unless the Person first executes and
                  delivers to the Company with a copy to each Shareholder an
                  intervention in the form of Schedule 4.11. If these conditions
                  are met, this Person shall be considered a Shareholder for the
                  purposes of this Agreement effective from its registration in
                  the Company's share register.

                                       20
<PAGE>

         4.12     Endorsement on Certificates

                  Share certificates of the Company will note conspicuously the
                  following language:

                  "The shares represented by this certificate are subject to all
                  the terms and conditions of an agreement made as of o, 2006, a
                  copy of which is on file at the registered office of the
                  Company."

         4.13     Put Option

                  4.13.1   Notwithstanding any other provision of this
                           Agreement, during the period commencing on April 1,
                           2009 and ending October 1, 2009 (the "Permitted
                           Window"), each Preferred Holder shall have the option
                           (the "Put Option") to be exercised by written notice
                           (the "Election Notice") to Avensys, the Company,
                           Manaris and the other Preferred Holders during the
                           Permitted Window to either:

                           4.13.1.1 sell all and not less than all of the Shares
                                    owned by such Preferred Holder to Avensys
                                    for its proportionate share of $2,000,000
                                    calculated based on such Preferred Holder's
                                    respective shareholding interest as set
                                    forth in Section 2.4.3 of the Asset Purchase
                                    Agreement and in which case Avensys shall be
                                    obligated to purchase same at such price,
                                    payable within 30 days of receipt of the
                                    Election Notice and of the share
                                    certificates representing such Preferred
                                    Holder's Shares, duly endorsed for transfer;
                                    or

                           4.13.1.2 exchange all and not less than all of the
                                    Shares owned by such Preferred Holder into
                                    that number of freely tradable common shares
                                    of Manaris equal its proportionate share of
                                    $1,500,000 divided by the Reference Share
                                    Price, as defined in the Asset Purchase
                                    Agreement, calculated based on such
                                    Preferred Holder's respective shareholding
                                    interest as set forth in Section 2.4.3 of
                                    the Asset Purchase Agreement and in which
                                    case, Manaris shall deliver such common
                                    shares to such Preferred Holder within 30
                                    days of receipt of the Election Notice and
                                    of the share certificates representing said
                                    Shares, duly endorsed for transfer.

                  4.13.2   In the event that any Preferred Holder exercises the
                           Put Option in accordance with Section 4.13.1, each of
                           the other Preferred Holders shall send a notice to
                           Avensys, the Company and Manaris within 15 days of
                           receipt of the Election Notice (the "Second Election
                           Notice") confirming that they elect to either :

                                       21
<PAGE>

                           4.13.2.1 sell all and not less than all of the Shares
                                    owned by such Preferred Holder to Avensys in
                                    accordance with Section 4.13.1.1, the
                                    payment of which shall occur within 30 days
                                    of receipt of the Second Election Notice; or

                           4.13.2.2 exchange all and not less than all of the
                                    Shares owned by such Preferred Holder in
                                    accordance with Section 4.13.1.2, the
                                    deliverance of corresponding common shares
                                    of Manaris occurring 30 days of receipt of
                                    the Second Election Notice.

                           If a Preferred Holder does not send a Second Election
                           Notice within such 15 day time period, said Preferred
                           Holder will be deemed to have elected to exchange its
                           Shares in accordance with Section 4.13.2.1.

                  4.13.3   In the event that none of the Preferred Holders
                           exercises the Put Option in accordance with this
                           Section 4.13, the Shareholders agree to renegotiate
                           in good faith the terms and conditions of this
                           Agreement.

5.       GENERAL

         5.1      Non-Solicitation

                  Avensys may not, without the prior written consent of the
                  other Shareholders, at any time while Avensys is a shareholder
                  of the Company and for a period of twelve months after Avensys
                  ceases to be a shareholder of the Company, either individually
                  or in partnership or jointly or in conjunction with any Person
                  as principal, agent, trustee, employee or shareholder or in
                  any other manner whatsoever:

                  5.1.1    solicit for hire or employment any Person who is
                           known to the representative or representatives of
                           Avensys actually making such solicitation for hire or
                           employment to be an officer, director or employee of
                           the Company or a Subsidiary of the Company; or

                  5.1.2    solicit or do business with any Person that is a
                           customer of the Company or its Subsidiaries while
                           Avensys is a shareholder of the Company or at the
                           date Avensys ceases to be a shareholder of the
                           Company.

         5.2      Confidentiality

                  None of the Shareholders may, without the prior written
                  consent of the other Shareholders, at any time while such
                  Shareholder is a shareholder of the Company and after such
                  Shareholder ceases to be a shareholder of the Company,
                  disclose to anyone or use for any purpose other than for the

                                       22
<PAGE>

                  business of the Company any confidential information
                  concerning the business and affairs of the Company and will
                  hold all such information in strictest confidence in
                  accordance with applicable laws or pursuant to decision of a
                  competent tribunal.

         5.3      Further Assurances

                  Each of the parties will from time to time execute and deliver
                  all such further documents and instruments and do all acts and
                  things as another party may reasonably require to effectively
                  carry out or better evidence or perfect the full intent and
                  meaning of this Agreement.

         5.4      Benefit of the Agreement

                  This Agreement will enure to the benefit of and be binding
                  upon the respective heirs, executors, administrators, other
                  legal representatives, successors and permitted assigns of the
                  parties.

         5.5      Entire Agreement

                  This Agreement constitutes the entire agreement between the
                  parties with respect to the subject matter hereof and cancels
                  and supersedes any prior understandings and agreements between
                  the parties with respect thereto. There are no
                  representations, warranties, terms, conditions, undertakings
                  or collateral agreements, express, implied or statutory,
                  between the parties other than as expressly set forth in this
                  Agreement.

         5.6      Amendments and Waivers

                  No amendment to this Agreement will be valid or binding unless
                  set forth in writing and duly executed by all the parties. No
                  waiver of any breach of any provision of this Agreement will
                  be effective or binding unless made in writing and signed by
                  the party purporting to give the same and, unless otherwise
                  provided in the written waiver, will be limited to the
                  specific breach waived.

         5.7      Assignment

                  Except as may be expressly provided in this Agreement, none of
                  the parties may assign such party's rights or obligations
                  under this Agreement without the prior written consent of all
                  the other parties.

         5.8      Termination

                  This Agreement will terminate upon:

                  5.8.1    the written agreement of all the Shareholders;

                                       23
<PAGE>

                  5.8.2    the dissolution or bankruptcy of the Company or the
                           making by the Company of an assignment under the
                           provisions of the Bankruptcy and Insolvency Act
                           (Canada); or

                  5.8.3    one Shareholder becoming the beneficial owner of all
                           the Shares.

         5.9      Severability

                  If any provision of this Agreement is determined to be invalid
                  or unenforceable in whole or in part, such invalidity or
                  unenforceability will attach only to such provision or part
                  thereof and the remaining part of such provision and all other
                  provisions hereof will continue in full force and effect.

         5.10     Notices

                  Any demand, notice or other communication to be given in
                  connection with this Agreement shall be given in writing and
                  shall be given by personal delivery, by registered mail or by
                  electronic means of communication addressed to the recipient
                  as follows:

                  To 3599:

                  Investissement Technologie (3599) Inc.
                  600, de la Gauchetiere West
                  Suite 1500
                  Montreal, Quebec, Canada
                  H3B 4L8
                  Attention: Corporate Secretary

                  Telecopier: (514) 395-8055

                  with a required copy to (but which shall not constitute notice
                  to 3599):

                  Ogilvy Renault LLP
                  1981 McGill College Avenue
                  Suite 1100
                  Montreal, Quebec
                  H3A 3C1
                  Attention: Gino Martel

                  Telecopier: (514) 286-5474

                                       24
<PAGE>

                  To OTPP:

                  Ontario Teachers' Pension Plan
                  5650, Yonge Street
                  Toronto, Ontario
                  M2M 4H5
                  Attention: Rosemary Zigrossi, Vice President, Venture Capital

                  Telecopier: (416) 730-5082

                  with a required copy to (but which shall not constitute notice
                  to OTPP)

                  Aird & Berlis LLP
                  Suite 1800
                  181 Bay Street
                  Toronto, Ontario
                  M5J 2T9
                  Attention: Margaret T. Nelligan

                  Telecopier: (416) 863-1515

                  To Celtic:

                  Celtic House Venture Partners Fund IIA LP
                  303 Terry Fox Drive
                  Suite 120
                  Kanata, Ontario, Canada
                  K2K 3J1
                  Attention: David Adderley, Partner and Chief Operating Officer

                  Telecopier: (613) 271-2025

                  To GTI V:

                  GTI V Limited Partnership
                  255 Saint-Jacques Street
                  2nd Floor
                  Montreal, Quebec, Canada
                  H2Y 1M6
                  Attention: General Partner

                  Telecopier: (514) 845-3810

                                       25
<PAGE>

                  To GTI V (NR):

                  GTI V (NR) Limited Partnership
                  255 Saint-Jacques Street
                  2nd Floor
                  Montreal, Quebec, Canada
                  H2Y 1M6
                  Attention: General Partner

                  Telecopier: (514) 845-3810

                  To Bay Tech:

                  Bay Tech Venture Capital GmbH & Co. KG.
                  Brienner Strasse 24
                  80333, Munich, Germany
                  Attention: Limited Managing Partner

                  Telecopier: +49 89 2171 26130

                  To Avensys:

                  Avensys Inc.
                  880, Selkirk
                  Pointe-Claire, Quebec
                  H9R 3S3
                  Attention: Mr. Martin d'Amours, President and Chief Executive
                  Officer

                  Telecopier: (514) 428-1433

                  with a required copy to (but which shall not constitute notice
                  to Avensys):

                  McCarthy Tetrault LLP
                  Suite 2500
                  1000 de La Gauchetiere Street West
                  Montreal, Quebec
                  H3B 0A2
                  Attention: Sonia Struthers

                  Telecopier: (514) 875-6246

                                       26
<PAGE>

                  To the Company:

                  Avensys Laboratories Inc.
                  247, boulevard Thibeau
                  Trois-Rivieres, Quebec
                  G8T 6X9
                  Attention: Mr. Hassan Kassi, President

                  Telecopier: (514) 428-1433

                  with a required copy to (but which shall not constitute notice
                  to the Company):

                  McCarthy Tetrault LLP
                  Suite 2500
                  1000 de La Gauchetiere Street West
                  Montreal, Quebec
                  H3B 0A2
                  Attention:  Sonia Struthers

                  Telecopier: (514) 875-6246

                  To Manaris:

                  Manaris Corporation
                  1155 Rene-Levesque, Suite 2720
                  Montreal, Quebec
                  H3B 2K8
                  Attention: Mr. John G. Fraser, Chief Executive Officer

                  Telecopier: (514) 847-4870

                  with a required copy to (but which shall not constitute notice
                  to Manaris):

                  McCarthy Tetrault LLP
                  Suite 2500
                  1000 de La Gauchetiere Street West
                  Montreal, Quebec
                  H3B 0A2
                  Attention:  Sonia Struthers

                  Telecopier: (514) 875-6246

                  or to such other address, individual or electronic
                  communication number as may be designated by notice given by a
                  party to the others. Any demand, notice or other communication
                  given by personal delivery shall be conclusively presumed to

                                       27
<PAGE>

                  have been given on the day of actual delivery thereof and, if
                  given by registered or certified mail, on the third Business
                  Day following the deposit thereof in the mail and, if given by
                  electronic communication, on the day of successful transmittal
                  thereof if given during the normal business hours of the
                  recipient and on the Business Day during which such normal
                  business hours next occur if not given during such hours on
                  any day. If the party giving any demand, notice or other
                  communication knows or ought reasonably to have known of any
                  difficulties with the postal system which might affect the
                  delivery of mail, any such demand, notice or other
                  communication shall not be mailed but shall be given by
                  personal delivery or by electronic communication.

         5.11     Governing Law

                  This Agreement shall be governed by and construed in
                  accordance with the laws of the Province of Quebec and the
                  laws of Canada applicable therein.

         5.12     Counterparts

                  This Agreement may be executed in any number of counterparts,
                  each of which will be deemed to be an original and all of
                  which taken together will be deemed to constitute one and the
                  same instrument.

         5.13     Facsimiles

                  Delivery of an executed signature page to this Agreement by
                  any party by electronic transmission will be as effective as
                  delivery of a manually executed copy of the Agreement by such
                  party.

         [THE REMAINDER OF THIS PAGE HAS BEEN LEFT INTENTIONALLY BLANK]

                                       28
<PAGE>

IN WITNESS WHEREOF, the parties hereto have executed this Agreement on the date
referred to above.

                                       AVENSYS INC.

                                       By: /s/ Martin d'Amours
                                           -------------------
                                           Martin d'Amours,
                                           President and Chief Executive
                                           Officer

                                       AVENSYS LABORATORIES INC.

                                       By: /s/ Hassan Kassi
                                           ----------------
                                           Hassan Kassi,
                                           President

                                       INVESTISSEMENT TECHNOLOGIE (3599) INC.

                                       By: /s/ Jean Rocheleau
                                           ------------------
                                           Jean Rocheleau
                                           Vice President

                                       By: /s/ Michel Sainte-Marie
                                           -----------------------
                                           Michel Sainte-Marie
                                           Assistant Secretary

                                       ONTARIO TEACHERS' PENSION PLAN

                                       By: /s/ Rosemary Zigrossi
                                           ---------------------
                                           Rosemary Zigrossi
                                           Vice President, Venture Capital

                                       29
<PAGE>

                                       CELTIC HOUSE VENTURE PARTNERS FUND IIA LP
                                       by Celtic House General Partner (Fund
                                       IIA) Inc., its general partner

                                       By: /s/ David Adderley
                                           ------------------
                                           David Adderley
                                           Partner and Chief Operating Officer

                                       GTI V LIMITED PARTNERSHIP
                                       by GTI V Inc., its general partner

                                       By: /s/ Roger Jenkins
                                           -----------------
                                           Roger Jenkins
                                           Senior General Partner

                                       GTI V (NR) LIMITED PARTNERSHIP
                                       by GTI V (NR) Inc., its general partner

                                       By: /s/ Roger Jenkins
                                           -----------------
                                           Roger Jenkins
                                           Senior General Partner

                                       BAY TECH VENTURE CAPITAL GMBH & CO. KG

                                       By: /s/ Dr. Rolf Schneider-Gunther
                                           ------------------------------
                                           Dr. Rolf Schneider-Gunther
                                           Managing Limited Partner

                                       MANARIS CORPORATION

                                       By: /s/ John G. Fraser
                                           ------------------
                                           John G. Fraser,
                                           Chief Executive Officer

                                       30
<PAGE>

                                  SCHEDULE 4.11

                                INTERVENTION FORM

The undersigned, _________________________________, as the owner of ____ shares
in the share capital of Avensys Laboratories Inc. (the "Company"), having
acquired them on ________________________, hereby intervenes in the Shareholder
Agreement dated as of __________, 2006 among the shareholders of the Company
(the "Agreement"), a copy of which is annexed hereto, and declares that it has
read the Agreement, understands its meaning and scope and is satisfied
therewith. The undersigned further declares itself to be bound by each of the
provisions of the Agreement as if it were an original signatory thereto.

Name: ________________________________________________________

Signature: ___________________________________________________

Name of representative: ______________________________________
(if legal person)

Date: ________________________________________________________

                                       31

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