Document:

Filed by Automated Filing Services Inc. (604) 609-0244 - Coloured Industry Inc. - Exhibit 10.11

EXHIBIT 10.11

THE SECURITIES OFFERED HEREBY HAVE NOT BEEN REGISTERED UNDER
THE SECURITIES ACT OF 1933 (THE "ACT"), AND ARE PROPOSED TO BE ISSUED IN
RELIANCE UPON AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE ACT
PROVIDED BY REGULATION S PROMULGATED UNDER THE ACT. UPON ANY SALE, SUCH
SECURITIES MAY NOT BE REOFFERED FOR SALE OR RESOLD OR OTHERWISE TRANSFERRED
EXCEPT IN ACCORDANCE WITH THE PROVISIONS OF REGULATION S, PURSUANT TO AN
EFFECTIVE REGISTRATION UNDER THE ACT, OR PURSUANT TO AN AVAILABLE EXEMPTION FROM
REGISTRATION UNDER THE ACT. HEDGING TRANSACTIONS INVOLVING THE SECURITIES MAY
NOT BE CONDUCTED UNLESS IN COMPLIANCE WITH THE ACT. 

REGULATION S DEBT CONVERSION AGREEMENT

THIS AGREEMENT is made effective as of the 28th
day of February, 2006.

BETWEEN:

THE CREDITOR LISTED ON THE
EXECUTION PAGE
 TO THIS AGREEMENT

(hereinafter called the
"Creditor")

OF THE FIRST PART 

AND: 

COLOURED (US)
INC.
(formerly EMCOR HOLDINGS INC.) 
a Nevada
corporation

(hereinafter called the “Company")

OF THE SECOND PART

WHEREAS:

A.                     
  The Creditor has advanced funds to the Company as a loan pending completion
  by the Company of the acquisition of Coloured Industry Limited (“CI”).

B.                     
  The Company has completed the acquisition of Coloured Industry.

C.                     
  The Company has entered into an asset purchase agreement (the “Asset Purchase
  Agreement”) for the acquisition from Colour Industry Inc. and ABS Global
  Capital Inc. (collectively, the “Developers”) of certain intellectual
  property previously licensed to Coloured Industry (the “Intellectual Property”).

D.                     
  The acquisition of the Intellectual Property is subject to, among other things,
  the approval of the managing partner and shareholders of the Developers, which
  approval has been obtained.

E.                     
  The Creditor has agreed to convert its loan into shares of the Company’s
  common stock.

THE PARTIES HEREBY AGREE AS FOLLOWS:

1.                      
DEFINITIONS

1.1                    
The following terms will have the following meanings for all purposes of this
Agreement.

2

	 	(a) 	
      "Agreement" shall mean this Agreement, and all schedules
      and amendments to in the Agreement.

	 	 	 
	 	(b) 	
      “Common Stock” means the shares of Common Stock of the
      Company, $0.001 par value per share.

	 	 	 
	 	(c) 	
      "Exchange Act" shall mean the United States Securities
      Exchange Act of 1934, as amended.

	 	 	 
	 	(d) 	
      “Creditor” shall mean the Creditor executing the
      signature page to this Agreement.

	 	 	 
	 	(e) 	
      "Offering" shall mean the offering of the Shares by the
      Company in exchange for the cancellation of indebtedness owed by the
      Company to certain of its creditors pursuant to Regulation S of the
      Securities Act.

	 	 	 
	 	(f) 	
      “Indebtedness” means the amount of indebtedness owed by
      the Company to the Creditor pursuant to a loan or loans advanced by the
      Creditor to the Company in the aggregate amount set forth on the execution
      page to this Agreement.

	 	 	 
	 	(g) 	
      "SEC" shall mean the United States Securities and
      Exchange Commission.

	 	 	 
	 	(h) 	
      "Securities Act" shall mean the United States Securities
      Act of 1933, as amended.

	 	 	 
	 	(i) 	
      "Shares" means those shares of Common Stock to be
      purchased by the Creditor at a price of $0.25 per Share pursuant to this
      Agreement.

1.2                    
All dollar amounts referred to in this agreement are in United States funds,
unless expressly stated otherwise.

2.                      
ISSUANCE OF SHARES IN SETTLEMENT OF INDEBTEDNESS

Subject to the terms and conditions hereinafter set forth, the
Creditor hereby agrees to accept the issuance by the Company to the Creditor of
a number of Shares equal to the amount of the Indebtedness divided by a price of
$0.25 US per Share as payment in full of the Indebtedness (the “Shares”).

Upon execution of this Agreement by the Company, the Company
will deliver to the Creditor certificates representing the Shares. Upon delivery
by the Company of the certificates representing the Shares, the Indebtedness
will be deemed to be repaid in full by the Company, the Company will have no
further liability or obligation to the Creditor in respect of the Indebtedness
and the Creditor will have no further claim or action against the Company in
respect of the Indebtedness.

The Company will register the resale by the Creditor of the
Shares on any registration statement filed by the Company with the SEC pursuant
to the Securities Act as part of the process of pursuing trading of the
Company’s common stock on the NASD OTC Bulletin Board.

Any acceptance by the Company of the Creditor is conditional
upon compliance with all securities laws and other applicable laws of the
jurisdiction in which the Creditor is resident. The Creditor will deliver to the
Company all other documentation, agreements, representations and requisite
government forms required by the lawyers for the Company as required to comply
with all securities laws and other applicable laws of the jurisdiction of the
Creditor.

The Creditor hereby authorizes and directs the Company to
deliver the securities to be issued to 

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such Creditor pursuant to this Agreement to the Creditor’s
address indicated on the signature page of this Agreement.

The Creditor acknowledges and agrees that the subscription for
the Shares and the Company's acceptance of the subscription is not subject to
any minimum subscription for the Offering.

3.                      
REGULATION S AGREEMENTS OF THE CREDITOR

3.1                    
The Creditor represents and warrants to the Company that the Creditor is not a
“U.S. Person” as defined by Regulation S of the Securities Act and is not
acquiring the Shares for the account or benefit of a U.S. Person.

A “U.S. Person” is defined by
Regulation S of the Act to be any person who is:

	 	(a) 	
      any natural person resident in the United
      States;

	 	 	 	 
	 	(b) 	
      any partnership or corporation organized or
      incorporated under the laws of the United States;

	 	 	 	 
	 	(c) 	
      any estate of which any executor or administrator is a
      U.S. person;

	 	 	 	 
	 	(d) 	
      any trust of which any trustee is a U.S.
      person;

	 	 	 	 
	 	(e) 	
      any agency or branch of a foreign entity located in
      the United States;

	 	 	 	 
	 	(f) 	
      any non-discretionary account or similar account
      (other than an estate or trust) held by a dealer or other fiduciary
      organized, incorporate, or (if an individual) resident in the United
      States; and

	 	 	 	 
	 	(g) 	
      any partnership or corporation if:

	 	 	 	 
	 		(i) 	
      organized or incorporated under the laws of any
      foreign jurisdiction; and

	 	 	 	 
	 		(ii) 	
      formed by a U.S. person principally for the purpose of
      investing in securities not registered under the Act, unless it is
      organized or incorporated, and owned, by accredited Creditors [as defined
      in Section 230.501(a) of the Act] who are not natural persons, estates or
      trusts.

3.2                    
The Creditor acknowledges that the Creditor was not in the United States at the
time the offer to purchase the Shares was received or at the time that this Debt
Conversion Agreement was executed. 

3.3                    
The Creditor acknowledges that the Shares are “restricted securities” within the
meaning of the Securities Act and will be issued to the Creditor in accordance
with Regulation S of the Securities Act.

3.4                    
The Creditor agrees not to engage in hedging transactions with regard to the
Shares unless in compliance with the Securities Act.

3.5                    
The Creditor and the Company agree that the Company will refuse to register any
transfer of the Shares not made in accordance with the provisions of Regulation
S of the Securities Act, pursuant to registration under the Securities Act,
pursuant to an available exemption from registration, or pursuant to this
Agreement. 

4

3.6                    
The Creditor agrees to resell the Shares only in accordance with the provisions
of Regulation S of the Securities Act, pursuant to registration under the
Securities Act, or pursuant to an available exemption from registration pursuant
to the Securities Act.

3.7                    
The Creditor acknowledges and agrees that all certificates representing the
Shares will be endorsed with the following legend in accordance with Regulation
S of the Securities Act: 

“THE SECURITIES REPRESENTED BY THIS
CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 (THE
"ACT"), AND HAVE BEEN ISSUED IN RELIANCE UPON AN EXEMPTION FROM THE REGISTRATION
REQUIREMENTS OF THE ACT PROVIDED BY REGULATION S PROMULGATED UNDER THE ACT. SUCH
SECURITIES MAY NOT BE REOFFERED FOR SALE OR RESOLD OR OTHERWISE TRANSFERRED
EXCEPT IN ACCORDANCE WITH THE PROVISIONS OF REGULATION S, PURSUANT TO AN
EFFECTIVE REGISTRATION UNDER THE ACT, OR PURSUANT TO AN AVAILABLE EXEMPTION FROM
REGISTRATION UNDER THE ACT. HEDGING TRANSACTIONS INVOLVING THE SECURITIES MAY
NOT BE CONDUCTED UNLESS IN COMPLIANCE WITH THE ACT”.

4.                      
REPRESENTATIONS AND WARRANTIES OF THE CREDITOR

The Creditor, represents and warrants to the Company as
follows, and acknowledges that the Company is relying upon such covenants,
representations and warranties in connection with the sale of the Shares to such
Creditor:

4.1                    
The Creditor is an investor in securities of companies in the development stage
and acknowledges that it is able to fend for itself, can bear the economic risk
of its investment, and has such knowledge and experience in financial or
business matters such that it is capable of evaluating the merits and risks of
the investment in the Shares. 

4.2                    
The Creditor has received and had opportunity to review a disclosure statement
relating to the Offering and has been afforded access to information about the
Company and the Company’s financial condition, results of operations, business,
properties, management and prospects sufficient it to evaluate its investment in
the Shares. The Creditor further represents that it has had an opportunity to
ask questions and receive answers from the directors and officers of the Company
regarding the terms and conditions of the Offering and the business, properties,
prospects and financial condition of the Company, each as is necessary to
evaluate the merits and risks of investing in the Shares. The Creditor believes
it has received all the information it considers necessary or appropriate for
deciding whether to purchase the Shares. The Creditor has had full opportunity
to discuss this information with the Creditor’s legal and financial advisers
prior to execution of this Agreement.

4.3.                    
The Creditor acknowledges that the offering of the Shares by the Company has not
been reviewed by the SEC and that the Shares are being issued by the Company
pursuant to an exemption from registration under the Securities Act.

4.4                    
The Creditors understands that the Shares it is purchasing are characterized as
"restricted securities" under the Securities Act inasmuch as they are being
acquired from the Company in a transaction not involving a public offering and
that under such laws and applicable regulations such securities may be resold
without registration under the Securities Act only in certain limited
circumstances. In this connection, the Creditor represents that it is familiar
with SEC Rule 144, as presently in effect, and understands the resale
limitations imposed thereby and by the Securities Act.

4.5                    
The Shares will be acquired by the Creditor for investment for the Creditor's
own account, not as a nominee or agent, and not with a view to the resale or
distribution of any part 

5

thereof, and that the Creditor has no present intention of
selling, granting any participation in, or otherwise distributing the same. The
Creditor does not have any contract, undertaking, agreement or arrangement with
any person to sell, transfer or grant participations to such person or to any
third person, with respect to any of the Shares.

4.6                    
An investment in the Company is highly speculative and only Creditors who can
afford the loss of their entire investment should consider investing in the
Company and the Shares. The Creditor is financially able to bear the economic
risks of an investment in the Company.

4.7                    
The Creditor recognizes that the purchase of the Shares involves a high degree
of risk in that the Company is in the early stages of development of its
business and may require substantial funds in addition to the proceeds of this
private placement.

4.8                    
The Creditor acknowledges that no market for the Shares presently exists and
none may develop in the future and accordingly the Creditor may not be able to
liquidate its investment.

4.9                    
The Creditor is not aware of any advertisement of the Shares.

4.10                   
This Agreement has been duly authorized, validly executed and delivered by the
Creditor.

4.11                   
The Creditor has satisfied himself or herself as to the full observance of the
laws of his or her jurisdiction in connection with any invitation to subscribe
for the Shares or any use of this Agreement, including (i) the legal
requirements within his jurisdiction for the purchase of the Shares; (ii) any
foreign exchange restrictions applicable to such purchase; (iii) any
governmental or other consents that may need to be obtained; (iv) the income tax
and other tax consequences, if any, that may be relevant to an investment in the
Shares; and (v) any restrictions on transfer applicable to any disposition of
the Shares imposed by the jurisdiction in which the Creditor is resident.

5.                      
REPRESENTATIONS BY THE COMPANY

5.1                    
The Company represents and warrants to the Creditor that:

	 	(a) 	
      the Company is a corporation duly organized, existing and
      in good standing under the laws of the State of Nevada and has the
      corporate power to conduct the business which it conducts and proposes to
      conduct;

	 	 	 
	 	(b) 	
      upon issue, the Shares will be duly and validly issued,
      fully paid and non- assessable common shares in the capital of the
      Company.

6.                      
MISCELLANEOUS

6.1                    
Any notice or other communication given hereunder shall be deemed sufficient if
in writing and sent by registered or certified mail, return receipt requested,
addressed to the Company at its registered office, attention: Lars Brannvall,
Director, and to the Creditor at his/her address indicated on the last page of
this Subscription Agreement. Notices shall be deemed to have been given on the
date of mailing, except notices of change of address, which shall be deemed to
have been given when received.

6.2                    
The parties agree to execute and deliver all such further documents, agreements
and instruments and take such other and further action as may be necessary or
appropriate to carry out the purposes and intent of this Subscription
Agreement.

6.3                    
This Agreement will be governed by and construed in accordance with the laws of
the State of Nevada applicable to contracts made and to be performed therein.
The parties 

6

hereby submit to personal jurisdiction in the Courts of the
State of Nevada for the enforcement of this Agreement and waive any and all
rights under the laws of any state to object to jurisdiction within the State of
Nevada for the purposes of litigation to enforce this Agreement.

IN WITNESS WHEREOF, this Subscription Agreement is
executed as of the day and year first written above.

	Amount of Indebtedness: 	$
      1,000 
	  	Amount of Indebtedness to be Converted
      into 
	  	Shares 
	  	  
	  	  
	Number of Shares: 	4,000 Shares 
	  	Number of Shares equals Amount of 
	  	Indebtedness divided by $0.25 US per
      Share 
	  	  
	  	  
	  	  
	  	  
	  	
	Signature of Creditor: 	/s/ Dan Simmons 
	  	  
	Name of Authorized Signatory (If 	  
	applicable): 	
	  	
	Name of Creditor: 	Dan Simmons 
	  	
	Address of Creditor: 	  146 Fernbrook Road, London SE13 5NH
  
	  	  
	  	  
	  	  
	  	  
	ACCEPTED BY: 	  
	  	  
	COLOURED (US) INC. 	  
	  	
	Signature of Authorized Signatory: 	/s/ Lars Brannval 
	  	
	Name of Authorized Signatory: 	Lars BrannvalL 
	  	  
	Position of Authorized Signatory: 	Director 
	  	  
	Date of Acceptance: 	February 28, 2006Filed by Automated Filing Services Inc. (604) 609-0244 - Coloured Industry Ltd. - Exhibit 10.12

EXHIBIT 10.12 

TERMINATION AND RELEASE AGREEMENT

(AGENCY EXPLOITATION AGREEMENT – COLOURED INDUSTRY
TECHNOLOGY)

THIS TERMINATION AND RELEASE AGREEMENT dated for
reference the 28th day of February, 2006,

BETWEEN:

THE COLOURED INDUSTRY TECHNOLOGY
PARTNERSHIP 2 LLP a limited liability partnership whose principal address is
4 Bedford Row, London WC1R 4DF, England (the “Licensor”); and 

COLOURED INDUSTRY LIMITED, a
limited company registered in England & Wales whose business address is at
Suite 5.15, 130 Shaftesbury Avenue, London England (the “Agent”)

WHEREAS the following terms set out the agreement
between the Licensor and the Agent, in connection with the termination of an
Agency Exploitation Agreement (the “Agency Exploitation Agreement”) between the
Licensor and the Agent dated effective August 6, 2003 whereby the Licensor
provided the Agent with the right to commercially exploit the intellectual
property rights to the technology and software that relates to the Coloured
Industry Technology, including all future upgrades.

NOW THEREFORE in consideration of the respective
covenants and agreements of the parties contained herein, the sum of one Pound
Sterling (“GBP”) paid by each party hereto to each of the other parties and
other good and valuable consideration (the receipt and sufficiency of which is
hereby acknowledged by each of the parties hereto), it is agreed as follows:

	1. 	
      Termination of Agency Exploitation
      Agreement. Effective as of the date first written above the Agency
      Exploitation Agreement is hereby terminated, and is null and void and of
      no further force or effect.

	 	 
	2. 	
      No Claims / No Pledge of Claims. The
      parties each warrant, represent, acknowledge and agree to and with each
      other that they have no outstanding claims under the Agency Exploitation
      Agreement or otherwise, against the any of the other parties to this
      Agreement and that none of them has heretofore received, or agreed to, any
      assignment, transfer, lien, security interest, encumbrance or
      hypothecation by pledge to any other person of any of his rights, claims,
      demands, causes of action or damages that are the subject matter of this
      Agreement.

	 	 
	3. 	
      Non-Disclosure of the Terms of this Agreement.
      The parties each agree with the other parties to this Agreement
      that the terms of this Agreement are not to be revealed to anyone except
      for the purposes of obtaining financial or other professional advice.
      Further, each of the parties agree that they will not directly or
      indirectly make any statements about any of the other parties in any
      manner

		
      that could be considered disparaging or negative or
      directly or indirectly make any statements about the terms of this
      Agreement other than to communicate any statement of facts agreed to in
      writing in advance by each and all of the parties.

	 	 
	4. 	
      Return of Property. The Agent will return
      forthwith all property of the Licensor now in his possession, including
      but not limited to all papers, plans, materials, software and any and all
      documents of the Licensor.

	 	 
	5. 	
      Release of Agent and Licensor. In
      consideration of the foregoing the parties hereby release and forever
      discharge each other and their directors, employees, officers and
      representatives, of and from all manner of actions, causes of action,
      suits, debts, accounts, covenants, contracts, claims and demands
      whatsoever, whether or not now known, suspected or claimed, which the
      other party has had, now has or which his legal personal representatives,
      heirs, executors, administrators or assigns or any of them, hereafter can,
      shall or may have against the other party or its directors, employees,
      officers and representatives, by reason of any cause, matter or thing
      whatsoever arising in connection with the Agency Exploitation Agreement
      including, without limitation, the termination of the Agency Exploitation
      Agreement.

	 	 
	6. 	
      No Other Agreements. Each of the parties
      hereto acknowledges and represents to the other that this Agreement is
      executed without reliance upon any agreement, promise, statement or
      representation by or on behalf of any of the other parties hereto except
      as set forth herein, and each of the parties hereto acknowledges that no
      other party hereto nor any agent of such party has made any promises,
      representations or warranties whatsoever, whether expressed or implied,
      which are not contained herein in writing concerning the matters herein
      set forth.

	 	 
	7. 	
      Legal Advice. The Parties acknowledge that
      they have each been requested to obtain independent legal advice with
      respect to the entering into of this Agreement and have been provided with
      sufficient time to obtain such legal advice.

	 	 
	8. 	
      Counterparts. This Agreement may be
      executed in as many counterparts as may be necessary and by facsimile,
      each of such counterparts so executed will be deemed to be an original and
      such counterparts together will constitute one and the same instrument and
      notwithstanding the date of execution will be deemed to bear the date as
      of the day and year first above written.

IN WITNESS WHEREOF the parties have duly executed this
Termination and Release Agreement as of the date first written above.

THE COLOURED INDUSTRY TECHNOLOGY PARTNERSHIP 2 LLP

 

	 	/s/ Paul Carter	 
	Per: 	 	 
	 	Authorized Representative and 	 
	 	Designated Partner 	 
	 	  	 
	 	  	 
	COLOURED INDUSTRY LIMITED 	 
	 	 	 
	 	 	 
	 	  	 
	 	/s/ Lars Brannvall	 
	Per: 	 	 
	 	Authorized Signatory

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