Document:

Prepared by R.R. Donnelley Financial -- 1998 Non-Employee Directors' Stock Option Plan

  
 Exhibit 10.7 
  
 NVIDIA Corporation 
  
 1998 Non-Employee
Directors’ Stock Option Plan 
  
 1.    PURPOSE. 
  

(a)  The purpose of the 1998 Non-Employee Directors’ Stock Option Plan (the “Plan”) is to provide a means by which each director of
NVIDIA Corporation (the “Company”) who is not otherwise at the time of grant an employee of or consultant to the Company or of any Affiliate of the Company (each such person being hereafter referred to as a “Non-Employee
Director”) will be given an opportunity to purchase stock of the Company. 
  
 (b)  The
word “Affiliate” as used in the Plan means any parent corporation or subsidiary corporation of the Company as those terms are defined in Sections 424(e) and (f), respectively, of the Internal Revenue Code of 1986, as amended from time to
time (the “Code”). 
  
 (c)  The Company, by means of the Plan, seeks to retain the
services of persons now serving as Non-Employee Directors of the Company, to secure and retain the services of persons capable of serving in such capacity, and to provide incentives for such persons to exert maximum efforts for the success of the
Company. 
  
 2.    ADMINISTRATION. 
  
 (a)  The Board of Directors of the Company (the “Board”) shall administer the Plan unless and until the Board delegates administration to a
committee, as provided in subparagraph 2(b). 
  
 (b)  The Board may delegate administration
of the Plan to a committee composed of two (2) or more members of the Board (the “Committee”). If administration is delegated to a Committee, the Committee shall have, in connection with the administration of the Plan, the powers
theretofore possessed by the Board, subject, however, to such resolutions, not inconsistent with the provisions of the Plan, as may be adopted from time to time by the Board. The Board may abolish the Committee at any time and revest in the Board
the administration of the Plan. 
  
 3.    SHARES SUBJECT TO THE PLAN. 
  
 (a)  Subject to the provisions of paragraph 10 relating to adjustments upon changes in stock, the stock that may be sold
pursuant to options granted under the Plan shall not exceed in the aggregate One Million Two Hundred Thousand (1,200,000) shares of the Company’s common stock. If any option granted under the Plan shall for any reason expire or otherwise
terminate without having been exercised in full, the stock not purchased under such option shall again become available for the Plan. 
 

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 (b)  The stock subject to the Plan may be unissued shares or
reacquired shares, bought on the market or otherwise. 
  
 4.    ELIGIBILITY. 
  
 Options shall be granted only to Non-Employee Directors of the Company. 
  
 5.    NON-DISCRETIONARY GRANTS. 
  
 (a)  Each person who is elected or appointed for the first time to be a Non-Employee Director automatically shall, upon the date of his or her initial election or appointment to be a Non-Employee Director by the
Board or shareholders of the Company, be granted an option to purchase Seventy-Five Thousand (75,000) shares of common stock of the Company on the terms and conditions set forth herein (an “Initial Grant”). 
  
 (b)  On August 1, 2002, each person who is then a Non-Employee Director automatically shall be granted an option to
purchase Seventy-Five Thousand (75,000) shares of common stock of the Company (a “2002 Grant”); provided, however, that if the person has not been serving as a Non-Employee Director for the entire period since the Annual Meeting of
Shareholders in 2001, then the number of shares subject to the 2002 Grant shall be reduced pro rata for each full quarter prior to the date of grant during which such person did not serve as a Non-Employee Director. 
  
 (c)  On August 1st of each year, commencing with August 1st,
2003, each person who is then a Non-Employee Director automatically shall be granted an option to purchase Twenty-Five Thousand (25,000) shares of common stock of the Company (an “Annual Grant”); provided, however, that if the
person has not been serving as a Non-Employee Director for the entire period since the preceding August 1st, then the number of shares subject to the Annual Grant shall be reduced pro rata for each full quarter prior to the date of grant during which such person did not serve as a Non-Employee Director. 

 
 (d)  On August 1st of each year, commencing with August 1st,
2002, each Non-Employee Director who is then a member of a committee of the Board automatically shall be granted, for each such committee, an option to purchase Five Thousand (5,000) shares of common stock of the Company (a “Committee
Grant”); provided, however, that if the person has not been serving as a Non-Employee Director for the entire period since the preceding August 1st, the number of shares subject to the Committee Grant shall be reduced pro rata for each full quarter prior to the date of grant during which such person did not serve as a Non-Employee
Director. 
  
 6.    OPTION PROVISIONS. 
  
 Each option shall be subject to the following terms and conditions: 
  
 (a)  The term of each option commences on the date it is granted and, unless sooner terminated as set forth herein, expires on the date ten (10) years from the date of grant

 

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 (“Expiration Date”). If the optionee’s service as a Non-Employee Director of the
Company or an employee, member of the Board of Directors or consultant to the Company or any Affiliate terminates for any reason or for no reason, the option shall terminate on the earlier of the Expiration Date or the date twelve (12) months
following the date of termination of all such service; provided, however, that if such termination of service is due to the optionee’s death, the option shall terminate on the earlier of the Expiration Date or eighteen (18) months
following the date of the optionee’s death. 
  
 (b)  The exercise price of each option shall be
equal to one hundred percent (100%) of the Fair Market Value of the stock (as such term is defined in subparagraph 9(d)) subject to such option on the date such option is granted. 
  
 (c)  The optionee may elect to make payment of the exercise price under one of the following alternatives: 
  
 (i)  Payment of the exercise price per share in cash at the time of exercise; 
  
 (ii)  Provided that at the time of the exercise the Company’s common stock is publicly traded and
quoted regularly in the Wall Street Journal, payment by delivery of shares of common stock of the Company already owned by the optionee, held for the period required to avoid a charge to the Company’s reported earnings, and owned free and clear
of any liens, claims, encumbrances or security interest, which common stock shall be valued at its Fair Market Value on the date preceding the date of exercise; or 
  
 (iii)  Payment pursuant to a program developed under Regulation T as promulgated by the Federal Reserve Board which results in the receipt
of cash (or check) by the Company either prior to the issuance of shares of the Company’s common stock or pursuant to the terms of irrevocable instructions issued by the optionee prior to the issuance of shares of the Company’s common
stock. 
  
 (iv)  Payment by a combination of the methods of payment specified in
subparagraph 6(c)(i) through 6(c)(iii) above. 
  
 (d)  An option shall be transferable only to the
extent specifically provided in the option agreement; provided, however, that if the option agreement does not specifically provide for the transferability of an option, then the option shall not be transferable except by will or by the laws
of descent and distribution, and shall be exercisable during the lifetime of the person to whom the option is granted only by such person (or by his guardian or legal representative) or transferee pursuant to such an order. Notwithstanding the
foregoing, the optionee may, by delivering written notice to the Company in a form satisfactory to the Company, designate a third party who, in the event of the death of the optionee, shall thereafter be entitled to exercise the option.

  
 (e)  The options granted pursuant to Section 5 shall vest and become exercisable as
follows: 
 

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 (i)  The Initial Grant shall vest quarterly over
the three (3)-year period following the date of grant such that the entire Initial Grant shall become exercisable on the three (3)-year anniversary of the date of grant of the option, provided that the optionee has, during the entire period prior to
each such vesting installment date, continuously served as a director or employee of or consultant to the Company or any Affiliate of the Company, whereupon such option shall become fully vested and exercisable in accordance with its terms with
respect to that portion of the shares represented by that installment. 
  
 (ii)  With respect to a 2002 Grant, if the optionee has attended at least seventy-five percent (75%) of the meetings of the Board held between the date of grant of the option and the one (1)-year anniversary of the
date of grant of the option, then the 2002 Grant shall vest thirty-three percent (33%) on the one (1)-year anniversary of the date of grant of the option with the remaining sixty-seven percent (67%) vesting quarterly over the second and third years
following the date of the grant of the option such that the entire 2002 Grant shall become vested and exercisable on the three (3)-year anniversary of the date of the grant of the option. If the optionee’s service as a Director terminates
between the date of grant of the option and the three (3)-year anniversary of the date of grant of the option due to the disability or death of the optionee, then the 2002 Grant shall immediately vest and become exercisable on a quarterly pro rata
basis. Unless the 2002 Grant sooner vests and becomes exercisable as provided in this subsection 6(e)(ii), the 2002 Grant shall vest annually over the four (4)-year period following the date of grant at the rate of ten percent (10%) per year for the
first three (3) years and seventy percent (70%) for the fourth (4th) year such that the entire 2002 Grant shall become vested and exercisable on the four (4)-year anniversary of the date of grant of the option, provided that the optionee has, during
the entire period prior to each such vesting installment date, continuously served as a director or employee of or consultant to the Company or any Affiliate of the Company, whereupon such option shall become fully vested and exercisable in
accordance with its terms with respect to that portion of the shares represented by that installment. 
  
 (iii)  With respect to an Annual Grant, if the optionee has attended at least seventy-five percent (75%) of the meetings of the Board held between the date of grant of the option and the two (2)-year anniversary of
the date of grant of the option, then the Annual Grant shall begin vesting quarterly in equal installments on the two (2)-year anniversary of the date of grant such that entire Annual Grant shall become vested and exercisable on the three (3)-year
anniversary of the date of the grant of the option. If the optionee’s service as a Director terminates between the date of grant of the option and the two (2)-year anniversary of the date of grant of the option due to the disability or death of
the optionee, then the Annual Grant shall immediately vest and become exercisable on a quarterly pro rata basis. Unless the Annual Grant sooner vests and becomes exercisable as provided in this subsection 6(e)(iii), the Annual Grant shall vest over
the four (4)-year period following the date of grant at the rate of thirty percent (30%) on the three (3)-year anniversary of the date of grant of the option and seventy percent (70%) on the four (4)-year anniversary such that the entire Annual
Grant shall become vested and exercisable on the four (4)-year anniversary of the date of grant of the option, provided that the optionee has, during the entire period prior to each such vesting installment date, continuously served as a director or
employee of or consultant to the Company or any Affiliate 
 

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 of the Company, whereupon such option shall become fully vested and
exercisable in accordance with its terms with respect to that portion of the shares represented by that installment. 
  
 (iv)  With respect to each Committee Grant, if the optionee has attended at least seventy-five percent (75%) of the meetings of the committee held between the date of grant of the option and the one (1)-year
anniversary of the date of grant of the option, then the Committee Grant shall vest and become exercisable in full on the one (1)-year anniversary of the date of grant. If the optionee’s service as a committee member terminates between the date
of grant of the option and the one (1)-year anniversary of the date of grant of the option due to the disability or death of the optionee, then the Committee Grant shall immediately vest and become exercisable on a monthly pro rata basis. Unless the
Committee Grant sooner vests and becomes exercisable as provided in this subsection 6(e)(iv), the Committee Grant shall vest annually over the four (4)-year period following the date of grant at the rate of ten percent (10%) per year for the first
three (3) years and seventy percent (70%) for the fourth (4th) year such that the entire Committee Grant shall become exercisable on the four (4)-year anniversary of the date of grant of the option, provided that the optionee has, during the entire
period prior to each such vesting installment date, continuously served as a director or employee of or consultant to the Company or any Affiliate of the Company, whereupon such option shall become fully vested and exercisable in accordance with its
terms with respect to that portion of the shares represented by that installment. 
  
 (f)  The
Company may require any optionee, or any person to whom an option is transferred under subparagraph 6(d), as a condition of exercising any such option: (i) to give written assurances satisfactory to the Company as to the optionee’s knowledge
and experience in financial and business matters; and (ii) to give written assurances satisfactory to the Company stating that such person is acquiring the stock subject to the option for such person’s own account and not with any present
intention of selling or otherwise distributing the stock. These requirements, and any assurances given pursuant to such requirements, shall be inoperative if (i) the issuance of the shares upon the exercise of the option has been registered under a
then currently-effective registration statement under the Securities Act of 1933, as amended (the “Securities Act”), or (ii) as to any particular requirement, a determination is made by counsel for the Company that such requirement need
not be met in the circumstances under the then applicable securities laws. The Company may require any optionee to provide such other representations, written assurances or information that the Company shall determine is necessary, desirable or
appropriate to comply with applicable securities laws as a condition of granting an option to the optionee or permitting the optionee to exercise the option. The Company may, upon advice of counsel to the Company, place legends on stock certificates
issued under the Plan as such counsel deems necessary or appropriate in order to comply with applicable securities laws, including, but not limited to, legends restricting the transfer of the stock. 
  
 (g)  Notwithstanding anything to the contrary contained herein, an option may not be exercised unless the shares issuable
upon exercise of such option are then registered under the Securities Act or, if such shares are not then so registered, the Company has determined that such exercise and issuance would be exempt from the registration requirements of the Securities
Act. 
 

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 7.    COVENANTS OF THE COMPANY. 
  
 (a)  During the terms of the options granted under the Plan, the Company shall keep available at all times the number of
shares of stock required to satisfy such options. 
  
 (b)  The Company shall seek to obtain
from each regulatory commission or agency having jurisdiction over the Plan such authority as may be required to issue and sell shares of stock upon exercise of the options granted under the Plan; provided however, that this undertaking shall
not require the Company to register under the Securities Act either the Plan, any option granted under the Plan, or any stock issued or issuable pursuant to any such option. If, after reasonable efforts, the Company is unable to obtain from any such
regulatory commission or agency the authority which counsel for the Company deems necessary for the lawful issuance and sale of stock under the Plan, the Company shall be relieved from any liability for failure to issue and sell stock upon exercise
of such options. 
  
 8.    USE OF PROCEEDS FROM STOCK. 
  
 Proceeds from the sale of stock pursuant to options granted under the Plan shall constitute general funds of the Company. 

 
 9.    MISCELLANEOUS. 
  
 (a)  Neither an optionee nor any person to whom an option is transferred under subparagraph 6(d) shall be deemed to be the holder of, or to have any of the rights of a holder with
respect to, any shares subject to such option unless and until such person has satisfied all requirements for exercise of the option pursuant to its terms. 
  
 (b)  Nothing in the Plan or in any instrument executed pursuant thereto shall confer upon any Non-Employee Director any right to continue in the service of
the Company or any Affiliate in any capacity or shall affect any right of the Company, its Board or shareholders or any Affiliate, to remove any Non-Employee Director pursuant to the Company’s Bylaws and the provisions of Delaware general
corporation law. 
  
 (c)  In connection with each option made pursuant to the Plan, it shall
be a condition precedent to the Company’s obligation to issue or transfer shares to a Non-Employee Director, or to evidence the removal of any restrictions on transfer, that such Non-Employee Director make arrangements satisfactory to the
Company to insure that the amount of any federal, state or local withholding tax required to be withheld with respect to such sale or transfer, or such removal or lapse, is made available to the Company for timely payment of such tax.

  
 (d)  As used in this Plan, “Fair Market Value” means, as of any date, the value
of the common stock of the Company determined as follows: 
  
 (i)  If the
common stock is listed on any established stock exchange or a national market system, including without limitation the Nasdaq National Market or The Nasdaq SmallCap, the Fair Market Value of a share of common stock shall be the closing sales price
for 
 

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 such stock (or the closing bid, if no sales were reported) as quoted on
such system or exchange (or the exchange with the greatest volume of trading in common stock) on the last market trading day prior to the day of determination, as reported in the Wall Street Journal or such other source as the Board deems reliable;
or 
  
 (ii)  In the absence of an established market for the common stock, the Fair
Market Value shall be determined in good faith by the Board. 
  
 10.    ADJUSTMENTS UPON CHANGES IN STOCK.

  
 (a)  If any change is made in the stock subject to the Plan, or subject to any option
granted under the Plan (through merger, consolidation, reorganization, recapitalization, stock dividend, dividend in property other than cash, stock split, liquidating dividend, combination of shares, exchange of shares, change in corporate
structure or other transaction not involving the receipt of consideration by the Company), the Plan and outstanding options will be appropriately adjusted in the class(es) and maximum number of shares subject to the Plan and the class(es) and number
of shares and price per share of stock subject to outstanding options. Such adjustments shall be made by the Board, the determination of which shall be final, binding and conclusive. (The conversion of any convertible securities of the Company shall
not be treated as a “transaction not involving the receipt of consideration by the Company.”) 
  
 (b)  In the event of: (1) a dissolution, liquidation, or sale of all or substantially all of the assets of the Company; (2) a merger or consolidation in which the Company is not the surviving corporation; (3) a
reverse merger in which the Company is the surviving corporation but the shares of the Company’s common stock outstanding immediately preceding the merger are converted by virtue of the merger into other property, whether in the form of
securities, cash or otherwise; or (4) the acquisition by any person, entity or group within the meaning of Section 13(d) or 14(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or any comparable successor
provisions (excluding any employee benefit plan, or related trust, sponsored or maintained by the Company or any Affiliate of the Company) of the beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act, or
comparable successor rule) of securities of the Company representing at least fifty percent (50%) of the combined voting power entitled to vote in the election of directors, then to the extent not prohibited by applicable law, (i) any surviving or
acquiring corporation shall assume any options outstanding under the Plan or shall substitute similar options (including an option to acquire the same consideration paid to the shareholders in the transaction described in this subparagraph 10(b))
for those outstanding under the Plan, or (ii) such options shall continue in full force and effect. In the event any surviving or acquiring corporation refuses to assume such options, or to substitute similar options for those outstanding under the
Plan, then such options shall be terminated if not exercised prior to such event. 
  
 11.    AMENDMENT
OF THE PLAN. 
  
 (a)  The Board at any time, and from time to time, may amend the Plan and/or
some or all outstanding options granted under the Plan. However, except as provided in paragraph 10 relating to adjustments upon changes in stock, no amendment shall be effective unless approved 
 

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  by the shareholders of the Company to the extent shareholder approval is necessary for the Plan
to satisfy the requirements of Rule 16b-3 under the Exchange Act or any Nasdaq or securities exchange listing requirements. 
  
 (b)  Rights and obligations under any option granted before any amendment of the Plan shall not be impaired by such amendment unless (i) the Company requests the consent of the person to whom the option was granted
and (ii) such person consents in writing. 
  
 12.    TERMINATION OR SUSPENSION OF THE PLAN. 

 
 (a)  The Board may suspend or terminate the Plan at any time. Unless sooner terminated, the Plan shall
terminate ten (10) years after the date adopted by the Board. No options may be granted under the Plan while the Plan is suspended or after it is terminated. 
  
 (b)  Suspension or termination of the Plan shall not impair rights and obligations under any option granted while the Plan is in effect, except with the
consent of the person to whom the option was granted. 
  
 13.    EFFECTIVE DATE OF PLAN; CONDITIONS OF
EXERCISE. 
  
 (a)  The Plan shall become effective on the same day that the Company’s
initial public offering of shares of common stock becomes effective, subject to the condition subsequent that the shareholders of the Company approve the Plan. 
  
 (b)  No option granted under the Plan shall be exercised or exercisable unless and until the condition of subparagraph 13(a) above has been met.

 

 8JOINT VENTURE AGREEMENT
Transaction Code: GPT/EKO-200107

THIS AGREEMENT made this 10th day of July, 2001
BETWEEN (Ekodia), a body corporate, duly
registered in the Province of Guangdong, China and
having its head office at Room 808, Dong Shan
Plaza, No. 69 Xianlie Zhong Road, Guangzhou,
510095, China.

(Hereinafter called "Ekodin")
AND GLOBAL PACIFIC TELECOM, INC., a body corporate
duly incorporated I the Province of British
Columbia, Canada and having its head offices at
Suite 520, 601 West Broadway, Vancouver, BC,
Canada. (Hereinafter called "Global")

WHEREAS the parties Ekodin and "Global" warrant
and represent that:
1.   Ekodin is the organizer and host of Cybercamp
2001 in China, a facility to host summer camp
teach English and computer courses to local
Chinese students in 2-week curricula.

2.   Global Pacific Telecom, Inc., a body
corporate having its head offices in Vancouver,
Canada, agrees to joint venture with Ekodin for
the purposes of implementing the Cybercamp 2001
project in China.

THEREFORE, THIS AGREEMENT WITNESSETH that in
consideration of the premises and the covenants
and agreements contained in this Agreement, the
parties covenant and agree with each other as
follows:

SECTION 1 - GENERALITIES
1.1   Both Ekodin and Global agree to host the
summer campt (hereinafter referred to as
"cybercamps") to be established in China, for the
year 2001

1.2   Ekodin shall advance all expenses necessary
for the estalishment and operation of the
cybercamps project, which shall come into being in
the year 2001 in china.

1.3   Ekodin has an option to hold the cybercamps
established in the year 2001 under the auspices of
Global's Training Center license to operate the
cybercamps.

1.4   Ekodin shall hold a special resolution to
consent to pay to Global 10% of all gross profit
(less applicable tax) derived from the operation
of all cybercamps established in the year 2001.
1.5   Ekodin reserves the right to vend in future
Cybercamps and/or Training Centers throughout
China into the joint venture.   Terms and
conditions to be negotiated at that point in time.

1.6   Ekodin to be appointed as a director of
Global in the event that Ekodin commits in writing
and by special resolution to vend into the joint
venture future Cybercamps and/or Training Centers
throughout China.

1.7   Global shall hold a special resolution to
effect the transfer of 2 million shares (free-
trading shares upon Global being "effective" as
public company by SEC) to Ekodin with immediate
effect on signing of contract.   However, should
Ekodin not advanced to the stage of revenue-
generating within 3 months of execution of the
Memorandum of Understanding signed on June 30,
2001, upon Global's option and demand, Ekodin
shall return the said 2 million shares to Global.

1.8   Global shall hold an ordinary resolution to
transfer the amount of C$5,000 to Ekodin upon
signing of this greement as a show of good faith
for the recognition of the sharing of the revenue
to be derived from the Cybercamps 2001 project
joint ventured between the Ekodin and Global.

1.9   In regards to any press releases by Global
on the subject matter or on related issues with
Ekodin, prior written approval shall be obtained
from Ekodin.

SECTION 2 - REPRESENTATIONS AND WARRANTIES

In order to induce the parties to enter into and
consummate this Agreement, both parties represent,
warrant to and covenant with each other as
follows:

2.1 Ekodin is a company duly incorporated and
organized under the laws of the Province of
Guangdong, People's Republic of China, is not a
reporting company and is a valid and subsisting
company in good standing with the Office of the
Registrar of Companies of the Province of
Guangdong, China.

2.2   Ekodin can legally carry on business in all
the provinces of the People's Republic of China
and does not carry on busines sin any other
country.

2.3   Ekodin currently holds the sole right or
sole franchising rights from Cybercamp USA to
utilize the name Cybercamp in China for the
purposes of providing short summer camp courses to
students.

2.4   Ekodin holds sufficient right and authority
to enter into this Agreement on the terms and
conditions set forth in this Agreement and to
transfer the legal and beneficial ten percent
(10%) share of the gross profit to Global.

2.5   Both Ekodin and Global hold all licenses and
permits (including operating authorities) required
for carrying on the business in the manner in
which it has heretofore been carried on and all
such licenses and permits are in good standing.

2.6   Both Ekodin and Global are not in breach of
any laws, ordinances, statutes, regulations, by-
laws, orders or decrees to which it is subject or
which apply to it.

2.7   Ekodin has not experienced nor is it aware
of any occurrence or event, which has had, or
might reasonable be expected to have, a materially
adverse effect on the cybercamps project or the
results of its operations.

2.8  The performance ofthis Agreement will not be
in violation of the Memorandum of Articles of
Ekodin or Global Pacific Telecom, Inc.

2.9   This Agreement has been duly executed and
delivered by both parties and is a valid and
binding obligation on both parties, enforceable in
accordance with its terms.

2.10   Global is a company duly incorporated under
the law of the Province of British Columbia,
Canada, is not a reporting company and is a valid
and subsisting company in good standing with the
Office of the Registrar of Companies of the
Province of British Columbia, Canada.

2.11   Global can legally carry on business in the
Province of British Columbia, Canada, its
subsidiary companies 33online Communications Inc.
is federally registered in Canada and registered
in the States of Washington, Delaware, Nevada and
California in the United States of America.

2.12   Global holds sufficient right and authority
to enter into this Agreement on the terms and
conditions set forth in this Agreement and to
transfer the legal and beneficial two (2) million
shares of the common stock of Global to Ekodin.

2.13   Global has not experienced nor is it aware
of any occurrence or event which has had, or might
reasonably be expected to have, a materially
adverse effect on the business or the results of
its operations.

SECTION 3 - CLOSING ARRANGEMENTS
3.1   Closing - shall be defined as the date that
both parties have accepted, signed and set seal to
this Agreement no later than July 10th, 2001.   On
this date, the Agreement shall be deemed
"executed".

3.2   Share Certificate/Cash Consideration - upon
fulfillment of all conditions set out in this
Agreement which have not been waived, and under
the provisions of Articles 1.7 and 1.8, Directors
for the issuance of share certificate(s) in total
of two (2) million shares of Global's stock and
cash sum of C$5,000.00.   Official stock
certificate(s) issued by the company Stock
Transfer Agent shall follow in due course,
providing Global will issue a temporary stock
certificate upon after execution of this
Agreement.   The cash sum of C$5,000.00 shall be
wired transferred to Ekodin within 5 banking days
after the execution of this Agreement.

SECTION 4 - GENERAL CONDITIONS
4.1   Reliance.   Ekodin Acknowledges and agrees
that Global has entered into this Agreement
relying on the representations, warranties,
covenants and agreement and other terms and
conditions of this Agreement and that no
information which is now known, which may become
known or which could be after investigation have
become known to the parties or any of their
present or future officers, directors or
professional advisors shall in any way limit or
extinguish any rights any of them may have against
Ekodin, including without limitation, any right to
indemnity under Article 4.3 of the Agreement.

4.2  Survival of Representations.   The
representations, warranties, covenants and
agreements of Ekodin contained in this Agreement
and any document or certificate given under this
Agreement shall survive the closing of the
transactions contemplated by this Agreement and
remain in full force and affect notwithstanding
any waiver by the parties unless such waiver was
made after notice in writing by Ekodin to Global
setting forth the breach.

4.3   Indemnification.   Ekodin covenants and
agrees to indemnify and save harmless Global from
any loss, damages, liabilities, costs and expenses
(including without limitation any tax liability)
suffered Global directly or indirectly s a result
of or arising out of any breach of representation,
warranty, covenant or agreement of Ekodin
contained in this Agreement or any document or
certificate delivered under this Agreement.

4.4   Commissions, Legal Fees.   Each of the
parties will bear the fees and disbursements of
their respective lawyers, accountants and
consultants engaged by them respectively in
connection with this Agreement and will not cause
or permit any such fees or disbursements to be
charged by either party to the other party.

4.5   Notices.   Any notice, direction or other
instrument required or permitted to be given under
this Agreement shall be in writing and may be
given by mailing the same postage prepaid or
delivering the same addressed as follows:

To Ekodin:   Ekodin
             Rm. 808, Dong Shan Plaza
             No. 69, Xianlie Zhong Road
             Guangzhou, 510095 China

To Global:   Global Pacific Telecom, Inc.
             Suite 520, 601 West Broadway
             Vancouver, BC, V5X4C2

Or to such other address as a party may specify by
notice and shall be deemed to have been received,
if delivered, on the date of delivery if it is a
business day and otherwise on the next succeeding
business day and, if mailed, on the fifth business
day following the posting of the notice except if
there is a postal dispute, in which case all
communications shall be delivered.

4.6   Time of Essence.   Time shall be of the
essence in this Agreement.

4.7   Further Assurances.   Each of the parties
will execute and deliver such further documents
and instruments and do such acts and things as
may, before or after the Closing Date, be
reasonably required by another party to carry out
the intent and meaning of this Agreement and to
assure the parties interest.

4.8   Proper Law.   This Agreement shall be
construed and enforced in accordance with, and the
rights of the parties shall be governed by the
laws of Hong Kong.

4.9   Benefits and Binding Nature of the
Agreement.   This Agreement shall ensure to the
benefit of and be binding upon the parties and
their respective successors and assigns.

4.10   Force Majeure.   In case situation arising
from Force Majeure occur, the Parties are governed
according to the resolutions stated by
International Chamber of Commerce-Publication
#500, Latest edition to apply.

4.11   Arbitration.   All disputes and
discrepancies that may arise out of the Agreement
shall attempt to be settled by negotiation.   In
the event that no settlement can be reached by
negotiation, then the case shall be referred to
the Arbitration Board of Hong Kong, whose decision
shall be final.

4.12   Accounts and Audits.   Ekodin shall retain
a clear set of books pertaining to the joint
venture complete with audited annual financial
statements by an international accounting firm.
Global shall have direct access to Ekodin's
complete financial records for the subject joint
venture.   Global retains the right to appoint its
representative(s) to review any or all records
pertaining to the joint venture.

4.13   General Condition.   After the Agreement
has been signed, all previous negotiations and
correspondence pertaining to the same are to be
considered null and void.   All Amendments and
supplements to Agreement are valid only if are
made in writing and signed by both Ekodin and
Global.

IN WITHNESSTH WHEREOF the parties hereto have
hereunto set their hands and seals as of the day
and year first above written.

Ekodin
Its Common Seal was hereunto affixed in the
presence of:

/s/-------------(unreadable)
-----------------------------
Authorized Signatory

/s/------------(unreadable)
-----------------------------
Authorized Signatory

GLOBAL PACIFIC TELECOM, INC.
Its Common Seal was hereunto affixed in the
presence of:

/s/Robin Young
----------------------------
Authorized Signatory

/s/Ben A Choi
---------------------------
Authorized Signatory

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