Document:

FIRST
      AMENDMENT TO EMPLOYMENT AGREEMENT

    

    THIS
      FIRST AMENDMENT TO EMPLOYMENT AGREEMENT (this “Amendment”)
      is
      entered into as of July 22, 2008 by and between Pac-Van, Inc., an Indiana
      corporation (“Pac-Van”),
      and
      Theodore M. Mourouzis (“Employee”
and
      collectively with Pac-Van, the “Parties”).

    

    RECITALS

    

    WHEREAS,
      the Parties entered into that certain Employment Agreement dated as of August
      1,
      2006 (the “Original
      Agreement”);
      and

    

    WHEREAS,
      in connection with the potential acquisition of Pac-Van by General Finance
      Corporation ("GFN"), the Parties desire to amend the Original Agreement as
      set
      forth herein, and desire that, except as set forth in this Amendment, the
      Original Agreement shall remain in full force and effect.

    

    NOW
      THEREFORE, in consideration of the premises and the respective representations,
      warranties, covenants, agreements and conditions hereinafter set forth, and
      other good and valuable consideration, the receipt and sufficiency of which
      are
      hereby acknowledged, the parties hereto hereby agree as follows:

    

    1. Definitions.
      Capitalized terms used herein and not otherwise defined herein shall have the
      meanings ascribed to them in the Original Agreement (without regard to this
      Amendment).

    

    2. Amendment.
      Reference hereby is made to the Agreement and Plan of Merger of even date
      herewith, among Pac-Van, Mobile Office Acquisition Corp., GFN and the other
      parties named therein (the "Merger Agreement"). If, and only if, the Merger
      (as
      defined in the Merger Agreement) occurs, then on the Effective Time (as defined
      in the Merger Agreement), Section 2 of the Original Agreement is
      hereby
      amended and restated in its entirety as follows:

    

    “2.
      Term
      of Employment.
      Employee’s employment under this Agreement shall commence on August 1, 2006 and
      shall end on July 31, 2010 (“Initial
      Term”)
      or
      such earlier date on which Employee’s employment is terminated under Section 6
      of this Agreement (the “Expiration
      Date”).”

    

    Nothing
      contained herein shall obligate the parties to the Merger Agreement to complete
      the Merger. If the Merger Agreement is terminated prior to completion of the
      Merger, this Amendment shall be void and of no force and effect without any
      further action on the part of the parties hereto.

    

    3. References.
      All
      references in the Original Agreement to “Agreement,” “herein,” “hereof,” or
      terms of like import referring to the Original Agreement or any portion thereof
      are hereby amended to refer to the Original Agreement as amended by this
      Amendment.

    

    4. No
      Implied Amendments.
      Except
      as expressly provided herein, the Original Agreement is not being amended,
      supplemented, or otherwise modified, and the Original Agreement shall continue
      in force and effect in accordance with its terms.

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

    

    5. Counterparts.
      This
      Amendment may be executed in one or more counterparts, each of which shall
      be
      deemed an original, but all such counterparts together shall constitute but
      one
      and the same agreement.

    

    6. Successors
      and Assigns.
      This
      Amendment shall be binding upon and inure to the benefit of the parties hereto
      and their respective successors and assigns.

    

    7. Governing
      Law.
      This
      Amendment shall be governed by and construed in accordance with the internal
      laws (and not the law of conflicts) of the State of Indiana.

    

    IN
      WITNESS WHEREOF, each of the parties hereto has executed this Amendment, or
      caused this Amendment to be executed on its behalf by a representative duly
      authorized, as of the date first above written.

    

    
      	 	
              PAC-VAN,
                INC. 

            
	 	 
	 	
              By:

            	
              
                /s/
                  James P. Dunmyer

              

            
	 	
              Name:

            	James P.
              Dunmyer
	 	
              Title:

            	Vice President
              of
              Finance
	 	 	 
	 	
              /s/
                Theodore M. Mourouzis

            
	 	
              Theodore
                M. Mourouzis

            

    

    
      
        
        

      

      
        2Unassociated Document

    EXHIBIT
      10.1

    

    

    Dated
      31
      Mar 2008

     

    NOBLE
      RAYS HOLDINGS LIMITED

     

    AND

     

    VAST
      OPPORTUNITY LIMITED

     

     

    TENANCY
      AGREEMENT

     

    of

     

    All
      that
      the Unit
      D
      on the
15th
      Floor

    of

    Eton
      Building, No. 288 Des Voeux Road Central,.Hong Kong.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	
              THIS
                AGREEMENT made the

            	
              31 day
                of March

            	
              Two
                thousand and Eight

            

    

     

    

      PARTIES

       

      BETWEEN
        the person or persons or the Company detailed as the Landlord in Part I of
        the
        First Schedule
        hereto (hereinafter called "the Landlord") of the one part and the person
        or
        persons or the
        Company detailed as the Tenant in Part I of the First Schedule hereto
        (hereinafter called "the Tenant")
        of the other part.

       

      WHEREBY
        IT IS MUTUALLY AGREED as follows: 

       

      PREMISES,
        TERM, RENT

       

      
        
          
            	1.	
                    The
                      Landlord shall let and the Tenant shall take ALL THOSE the
                      premises
                      (hereinafter referred
                      to as "the Premises") forming part of all that building (hereinafter
                      referred to as "the
                      Building") which and the Building are more particularly described
                      and set
                      out in Part II of
                      the First Schedule hereto TOGETHER with the use of the lifts
                      (if any)
                      (whenever the same
                      shall be operating), entrances, staircases, landings and passages
                      of the
                      Building (so far as
                      the same are necessary for the enjoyment of the Premises in
                      conformity
                      with the permitted
                      user specified in Clause 4 (7) hereof) in common with the Landlord
                      and any
                      other persons
                      entitled for the term set forth in Part III of the First Schedule
                      hereto
                      YIELDING AND PAYING therefor throughout the said term such
                      rent as is set
                      out in 'the Second Schedule
                      hereto which sum shall be payable in advance clear of all deductions
                      on
                      the 1st day
                      of each calendar month.

                  

          

        

      

       

      
        	2.	
                The
                  Tenant hereby agrees with the Landlord as follows:  

              

      

       

      PAY
        RENT & RATES

       

      
        
          	 	(1)	(a)	To
                  pay the rent hereby reserved on the days and in the manner hereinbefore
                  provided
                  for payment thereof to the Landlord (or its agents authorised in
                  writing
                  by
                  it) and in banknotes if so demand.
	 	 	 	 
	 	 	(b)	If so required in writing
                  by the
                  Landlord to make such payment to any bank and account
                  in the name of the Landlord that the Landlord may from time to
                  time
                  nominate.
	 	 	 	 
	 	(2)	(a)	To pay and discharge
                  all rates
                  taxes assessments duties charges impositions and outgoings
                  of an annual or recurring nature now or hereafter to be assessed
                  imposed
                  or charged by the Government of Hong Kong or other lawful authority
                  upon
                  the Premises or upon the owner or occupier thereof (Government
                  Rent and
                  Property
                  Tax only excepted).
	 	 	 	 
	 	 	
                  (b)

                	In
                  the event of an assessment to rates in respect of the Premises
                  shall be
                  raised upon
                  the Landlord direct, the Landlord shall during the month immediately
                  preceding
                  any quarter in respect of such rates may fall due be at liberty
                  to debit
                  the
                  Tenant with the amount thereof and the same shall forthwith be
                  paid by the
                  Tenant
                  to the Landlord whereupon the Landlord shall account for the same
                  to
                  the
                  Government of Hong Kong.
	 	 	 	 
	 	 	(c)	The Landlord shall
                  be entitled to
                  treat non-payment of any amount debited to the Tenant
                  in accordance with the foregoing provision of this Clause or any
                  part
                  thereof
                  in
                  all respect as non-payment of rent under this
                  Agreement.

        

      

       

      
        
          
          

        

        
          2

          
            

          

        

        
          
          

        

      

       

      GAS
        WATER ELECTRICITY. TELEPHONE CHARGES

       

      
        
          	 	(3)	 	
                  To
                    pay and discharge all charges for gas water electricity and telephone
                    services consumed in or supplied to the Premises and as and when
                    required
                    to make all necessary deposit (if any) for the meters
                    therefor.

                

        

      

      

      AIR-CONDITIONING
        AND MANAGEMENT CHARGE

       

      
        
          	 	(4)	 	
                  
                    To
                      pay and discharge the monthly Air-conditioning and Management
                      Charges and
                      maintenance
                      charges (except those of a capital nature) payable in respect
                      of the
                      Premises
                      under the Deed of Mutual Covenant or other deed(s) or instrument(s)
                      of
                      similar
                      nature in respect of the
                      Building.

                  

                

        

      

       

      OBSERVE
        ORDINANCES

       

      
        
          	 	(5)	 	
                  
                    To
                      obey and comply with and to indemnify the Landlord against
                      the breach of
                      all ordinances
                      regulations bye-laws rules and requirements of any Governmental
                      or other
                      competent
                      authority relating to the occupation of the Premises or to
                      any other act
                      deed
                      matter or thing done' permitted suffered or omitted therein
                      or thereon by
                      the Tenant
                      or occupier or any employee agent licensee or visitor of the
                      Tenant or
                      occupier
                      and to notify the Landlord forthwith in writing of any notice
                      received
                      from any
                      statutory
                      or public authority concerning or in respect of the Premises
                      or any
                      services
                      supplied thereto.

                  

                

        

      

       

      TO
        MAINTAIN AND REPAIR

       

      
        
          	 	(6)	(a)	
                  To
                    maintain and keep the Premises in a good and proper workmanlike
                    fashion
                    and
                    in
                    good
                    and tenantable condition and repair throughout the said term
                    to the
                    satisfaction
                    of the Landlord (fair wear and tear excepted).

                
	 	 	 	 
	 	 	(b)	
                  
                    To
                      keep all the interior of the Premises including the flooring
                      and interior
                      plaster or other finishes or rendering to walls floors and
                      ceilings and
                      the Landlord's fixtures fittings furniture and effects therein
                      and all
                      additions thereto and including all doors windows electrical
                      and gas
                      installations and wiring and piping in good clean and tenantable
                      repair
                      and condition and properly preserved and painted and so. to
                      maintain the
                      same at the expense of the Tenant and to deliver up the same
                      to the
                      Landlord at the expiration or sooner determination of the said
                      term in
                      like condition (fair wear and tear
                      excepted).

                  

                

        

      

       

      REPLACEMENT
        OF WINDOWS

       

      
        
          	 	(7)	 	
                  
                    To
                      reimburse to the Landlord the cost of replacing all broken
                      and damaged
                      windows and
                      glass during the said term whether or not the same be broken
                      or damaged by
                      the negligence
                      of the Tenant.

                  

                

        

      

       

      REPAIR
        OF GAS ELECTRICITY INST.ALLATIONS

       

      
        
          	 	(8)	 	
                  
                    To
                      repair or replace any gas installation or piping and any electrical
                      installation or wiring of the Tenant if the same becomes dangerous
                      or
                      unsafe or if so reasonably required by the Landlord or by the
                      relevant
                      utility company and in so doing the Tenant shall use qualified
                      contractors
                      and technicians for the purpose. The Tenant shall permit the
                      Landlord or
                      its agents to test the Tenant's gas installation or piping
                      and electrical
                      installation and wiring in the Premises at any reasonable time
                      upon
                      request being made. The Tenant shall indemnify the Landlord
                      and hold it
                      harmless against any cost claim damage or proceedings resulting
                      from or
                      attributable to any malfunction or disrepair of the gas and
                      electrical
                      installation or apparatus in the
                      Premises

                  

                

        

      

       

      
        
          
          

        

        
          3

          
            

          

        

        
          
          

        

      

       

      REPAIR
        OF SANITARY APPARATUS

       

      
        
          	 	(9)	 	
                  
                    To
                      keep the sanitary and water apparatus in the Premises (or elsewhere
                      if
                      used exclusively
                      by the Tenant) in good clean and tenantable repair and condition
                      (fair
                      wear
                      and tear excepted) to the satisfaction of the Landlord and
                      in accordance
                      with the regulations
                      or bye-laws of all Public Health and other Government Authorities
                      concerned.

                  

                

        

      

       

      CLEARING
        OF DRAINS

       

      
        
          	 	(10)	 	
                  
                    To
                      pay to the Landlord on demand all costs incurred by the Landlord
                      in
                      cleansing clearing
                      repairing any of the drains pipes or sanitary or plumbing or
                      air filtering
                      and extracting
                      apparatus choked or stopped up owing to the careless or improper
                      use of
                      neglect
                      by the Tenant or any employee agent or licensee of the Tenant
                      and to
                      indemnify
                      the Landlord against any cost claim or damage caused thereby
                      or arising
                      therefrom,

                  

                

        

      

       

      INDEMNIFY
        LANDLORD AGAINST LOSS

       

      
        
          	 	(11)	 	
                  
                    To
                      be wholly responsible for and to indemnify the Landlord against
                      any loss
                      damage or
                      injury caused to any .person whomsoever or any property whatsoever
                      whether
                      directly
                      or indirectly through the defective or damaged condition of
                      any part of
                      the interior
                      of the Premises or any fittings fixtures wiring or piping therein
                      for the
                      repair of
                      which the Tenant is responsible hereunder or through or in
                      any way owing
                      to the spread of fire or smoke or the leakage or overflow of
                      water
                      including storm or rain water
                      from the Premises or any part thereof through the act default
                      or neglect
                      of the Tenant his servants agents or
                      licensees.

                  

                

        

      

       

      PROTECTION
        FROM TYPHOON

       

      
        
          	 	(12)	 	
                  
                    To
                      take all reasonable precautions to protect the interior of
                      the Premises
                      against damage
                      by storm heavy rainfall typhoon or the like and in particular
                      to ensure
                      that all exterior
                      doors and windows are securely fastened upon the threat of
                      such adverse
                      weather
                      conditions,

                  

                

        

      

       

      ENTRY
        LANDLORD

       

      
        
          	 	(13)	 	
                  
                    To
                      permit the Landlord and all persons authorised by it at all
                      reasonable
                      times and by prior
                      appointment to enter and view the state of repair of the Premises
                      and to
                      take inventories
                      of the Landlord's fixtures fittings furniture and effects therein
                      and to
                      carry out
                      any works repairs or maintenance which require to be done Provided
                      that in
                      the event
                      of an emergency the Landlord its servants or agents may enter
                      without
                      notice and
                      forcibly if need be.

                  

                

        

      

       

      NOTICE
        TO REPAIR

       

      
        
          	 	(14)	 	
                  
                    On
                      receipt of any notice from the Landlord or its authorised representative
                      specifying any
                      works or repairs which require to be done and which are the
                      responsibility
                      of the Tenant
                      hereunder forthwith to put in hand and execute the same with
                      all possible
                      despatch
                      and without any delay, Failure by the Tenant so to do will
                      entitle the
                      Landlord
                      or its servants or agents to enter upon the Premises and forcibly
                      if need
                      be to carry
                      out any such works or repairs at the sole expense of the
                      Tenant.

                  

                

        

      

       

      
        
          
          

        

        
          4

          
            

          

        

        
          
          

        

      

       

      INFORM
        LANDLORD OF DAMAGES

       

      
        
          	 	(15)	 	
                  
                    To
                      give notice in writing to the Landlord or its agent of damage
                      that may be
                      suffered to the Premises or to persons thereupon and of any
                      accident to or
                      defects in the water pipes gas pipes electrical wiring or fittings
                      fixtures or other
                      facilities.

                  

                

        

      

       

      INFESTION
        

       

      
        
          	 	(16)	 	
                  
                    At
                      the Tenant's expense to make all such steps and precautions
                      to prevent the
                      Premises
                      or any part thereof from becoming infested by termites rats
                      mice roaches
                      or,
                      any
                      other pests or vermin.

                  

                

        

      

       

      AIR-CONDITIONING
        OF THE PREMISES

       

      
        
          	 	(17)	(a)	
                  To
                    keep
                    air-conditioning
                    fan-coil and air-conditioning system or installation (within
                    the Premises) in good and clean condition and tenantable repair,
                    and
                    properly maintain the.sarne
                    at the Tenant's expense.

                
	 	 	 	 
	 	 	
                  (b)

                	
                  To
                    repair or replace at the Tenant's expense any air-conditioning
                    :fan-coil
                    unit or
                    any
                    other part of the air-conditioning system or installation (but
                    not within
                    the
                    Premises) which is damaged or rendered defective by the misuse
                    or
                    negligence
                    of the Tenant or any of the Tenant's servants, agents, licensees,
                    occupiers or customers.

                
	 	 	 	 
	 	 	(c)	To repair or replace at the Tenant's
                  expense
                  any damaged or defective air-conditioning
                  fan-coil unit or any other part of the air-conditioning system
                  or
                  installation.
                  (within the Premises) whether or not the same be damaged or rendered
                  defective by the misuse or negligence of the Tenant or any
                  of
                  the Tenant's
                  servants, agents, licensees, occupiers or
                  customers.

        

      

       

      DIRECTORY
        BOARDS

       

      
        
          	 	(18)	 	
                  
                    To
                      pay or reimburse the Landlord immediately upon demand the cost
                      of affixing
                      repairing
                      or replacing as necessary the Tenant's name in lettering to
                      the directory
                      boards
                      (if my)at the Building.

                  

                

        

      

       

      BUILDING
        RULES

       

      
        
          	 	(19)	 	
                  
                    To
                      obey and comply with such Building Rules as may from time to
                      time be made
                      or adopted
                      by the Manager in accordance, with the Deed of Mutual Covenant
                      relating to
                      the Building..

                  

                

        

      

       

      SERVANTS
        AGENTS AND LICENSEES

       

      
        
          	 	(20)	 	
                  To
                    be responsible to the Landlord for the acts neglects omissions
                    and
                    defaults of all contractors
                    agents licensees and visitors of the Tenant or occupier of the
                    Premises as
                    if
                    they were the acts neglects omissions and defaults of the Tenant
                    himself
                    and for the purposes
                    of this Agreement "licensee" shall include any person present
                    in using or
                    visiting
                    the Premises with the consent of the Tenant express or
                    implied.

                

        

      

       

      
        
          
          

        

        
          5

          
            

          

        

        
          
          

        

      

       

      YIELD
        UP PREMISES

       

      
        
          	 	(21)	 	
                  To
                    quietly yield up the Premises in a bare shell condition PROVIDED
                    THAT the
                    Landlord
                    may by notice in writing require
                    the Tenant to yield up the Premises together
                    with all the fixtures fittings
                    and additions therein and thereto or part thereof at the expiration
                    or
                    sooner determination of this Agreement in good clean and tenantable
                    repair
                    and condition (fair wear and tear excepted) AND thereupon to
                    surrender to
                    the Landlord all keys giving access to all parts of the Premises
                    held by
                    the Tenant.

                
	 	 	 	 
	 	3. 	 	The Landlord hereby agrees with
                  the Tenant as
                  follows:

        

      

       

      QUIET
        ENJOYMENT

       

      
        
          	 	(1)	 	
                  
                    That
                      the Tenant paying the rent on the days and in the manner herein
                      provided
                      for payment
                      of the same and observing and performing the terms and conditions
                      herein
                      contained
                      and on the Tenant's part to be observed and performed shall
                      peaceably hold
                      and
                      enjoy the Premises during the said term without any interruption
                      by the
                      Landlord or
                      any person lawfully claiming under or in trust for the
                      Landlord.

                  

                

        

      

       

      GOVERNMENT
        RENT 

       

      
        
          	 	(2)	 	
                  To
                    pay the Government Rent and Property Tax payable in respect of
                    the
                    Premises. TO

                

        

      

       

      MAINTAIN
        MAIN STRUCTURE

       

      
        
          	 	(3)	 	
                  
                    To
                      maintain and keep or cause to be maintained and kept the main
                      structure of
                      the Premises
                      and every part of the said main structure the main drains and
                      pipes in
                      proper
                      and tenantable repair and condition PROVIDED that the Landlord's
                      liability
                      hereunder
                      shall not be deemed to have arisen unless and until written
                      notice of any
                      want
                      of repair of the same shall have been previously given by the
                      Tenant to
                      the Landlord
                      and the Landlord shall have failed to take steps to repair
                      the same after
                      the lapse
                      of a reasonable time.

                  

                
	 	 	 	 
	 	4. 	 	The Tenant hereby further agrees
                  with the
                  Landlord as follows

        

      

       

      INSTALLATION
        AND ALTERATIONS

       

      
        
          	 	(1)	(a)	
                  Not
                    without the previous written consent of the Landlord to erect
                    install
                    or
                    alter
                    any
                    fixtures partitioning or other erection or installation in the
                    Premises or
                    any part
                    thereof or without the like consent to make or permit or suffer
                    to be made
                    installations
                    in or additions to the electrical/gas wiring/piping and installations
                    or
                    to install or permit or suffer to be installed any equipment
                    furniture
                    apparatus or
                    machinery which imposes a weight on any part of the flooring
                    in excess of
                    that for which it is designed or which requires any additional
                    electrical/gas mains
                    wiring/piping or which consumed electricity/gas not metered through
                    the
                    Tenant's
                    separate meter.

                
	 	 	 	 
	 	 	(b)	
                  In carrying out any approved work hereunder
                    the Tenant
                    shall and shall cause its servants
                    agents contractors and workmen to cooperate fully with the Landlord
                    and
                    all its servants agents contractors in carrying out any work
                    in the
                    Building. The
                    Tenant its servants agents contractors and workmen shall obey
                    and comply
                    with
                    all instructions and directions which may be given by the Landlord
                    or the
                    Landlord's representative in connection with the carrying out
                    of such
                    work.

                
	 	 	 	 
	 	 	(c) 	
                  In
                    carrying out any work to the electrical/gas installation and/or
                    wiring/piping the
                    Tenant shall use qualified contractors and
                    technicians.

                

        

      

       

      
        
          
          

        

        
          6

          
            

          

        

        
          
          

        

      

       

      INJURY
        TO MAIN WALLS

      

      
        	
              	(2)	
                Not
                  without the previous written consent of the Landlord to cut maim
                  injure
                  drill into mark or deface or permit or suffer to be cut maimed
                  injured
                  drilled into marked or defaced any doors windows walls beams structural
                  members or any part of the fabric of the Premises or any part of
                  the
                  plumbing or Sanitary apparatus or installation included
                  therein.

              

      

      

      DAMAGE
        TO COMMON AREAS

      

      
        	
              	(3)	
                Not
                  to damage injure or deface any part of the fabric or decorative
                  features
                  of the common areas stairs and lifts of the Building including
                  any trees
                  plants or shrubs therein or
                  thereabout.

              

      

      

      NUISANCE
        AND ANNOYANCE

      

      
        	
              	(4)	
                Not
                  to do or permit or suffer to be done any act or thing which may
                  be or
                  become a nuisance or annoyance to the Landlord or to the tenants
                  or
                  occupiers of other premises in the Building or in any adjoining
                  or
                  neighbouring building and it is agreed that a persistent breach
                  by the
                  Tenant of the terms of this Clause shall amount to a breach of
                  this
                  Agreement justifying the Landlord exercising its right of re-entry
                  hereunder.

              

      

       

      NOISE

       

      
        	
              	(5)	
                Not
                  to produce or permit or suffer to be produced at any time in the
                  Premises
                  any music
                  or noise (including sound produced by broadcasting or any apparatus
                  or
                  equipment
                  capable of producing reproducing receiving or recording sound)
                  so as to
                  be
                  audible outside the Premises and it is agreed that a persistent
                  breach by
                  the Tenant of
                  the terms of this Clause shall amount to a breach of this Agreement
                  justifying the Landlord
                  to exercise its right of re-entry
                  hereunder.

              

      

       

      SIGNS

       

      
        	
              	(6)	
                Not
                  without the previous written consent of the Landlord and the Manager
                  of
                  the Building
                  to exhibit or display on or affix to the exterior of the Premises
                  any
                  writing sign
                  signboard or other device whether illuminated or not nor to affix
                  any
                  writing sign
                  signboard or other device in at or above any common area lobby
                  landing or
                  corridor
                  of the Building, Provided always that the Tenant shall be entitled
                  to have
                  his name
                  and business displayed in lettering and/or characters to a design
                  and
                  standard of workmanship
                  approved by the Landlord on a signboard upon the front of the Premises.
                  If the Tenant carries on business
                  under a name other than his own name he shall
                  be entitled to have that.name displayed as aforesaid but the Tenant
                  shall
                  not be entitled
                  to change the business name without the previous written consent
                  of the
                  Landlord
                  and without prejudice to the foregoing the Landlord may in connection
                  with
                  any
                  application for Consent under this Clause require the Tenant to
                  produce
                  such evidence
                  as it may think fit to show that no breach of Clause 4(12) has
                  taken place
                  or is
                  about to take place.

              

      

      

      
        
          
          

        

        
          7

          
            

          

        

        
          
          

        

      

      

      USER

      

      
        	
              	(7)	
                Not
                  to used or permit of suffer the Premises or any part thereof to
                  be used
                  for any purpose other than as office premises for business purposes
                  and in
                  particular not as residential or industrial premises of any kind
                  PROVIDED
                  THAT the Tenant is solely responsible to obtain any licence, permit
                  or
                  approval of any kind from Government or other Authorities or from
                  the
                  Manager of the Incorporated Owners of the Building for the operation
                  of
                  Tenant’s business.

              

      

      

      ILLEGAL
        OR IMMORAL

      

      
        	
              	(8)	
                Not
                  to use or permit or suffer the Premises to be used for any illegal
                  or
                  immoral purpose.

              

      

      

      UNLAWFUL
        OR DANGEROUS GOODS

      

      
        	
              	(9)	
                Not
                  to keep or permit or suffer to be kept or stare in the Premises
                  any
                  unlawful goods or any arms ammunition gunpowder salt-petre kerosene
                  or
                  other explosive or combustible substance or hazardous
                  goods.

              

      

      

      OBSTRUCTIONS
        IN PASSAGES 

      

      
        	
              	(10)	
                Not
                  to encumber or obstruct or permit or suffer to be encumbered or
                  obstructed
                  with any
                  boxes packaging rubbish or other obstruction of any kind or nature
                  any of
                  the entrances
                  staircases landings passages or other parts of the Building in
                  common use
                  and
                  the Landlord shall be entitled without notice and at the Tenant's
                  expense
                  to remove
                  and dispose of as it sees fit any such rubbish or other article
                  or thing
                  and the Landlord
                  shall not thereby incur any liability to the. Tenant or any other
                  person
                  whomsoever
                  and the Tenant shall indemnify the Landlord against all losses
                  claims
                  damages or expenses of and against the Landlord in respect
                  thereof.

              

      

       

      RESTRICTION
        ON SUBLETTING

       

      
        	
              	(11)	
                Not
                  to assign underlet part with the possession of or transfer the
                  Premises or
                  any part thereof
                  or any interest therein nor permit or suffer any arrangement or
                  transaction whereby
                  any person. who is not a party to this Agreement obtains the use
                  possession occupation
                  or
                  enjoyment
                  of the Premises or any part thereof irrespective of whether any
                  rental or other consideration is given therefor. The tenancy shall
                  be
                  personal to the
                  Tenant named in this Agreement and without in any way limiting
                  the
                  generality of the
                  foregoing the following acts and events shall unless approved in
                  writing
                  by the Landlord be deemed to be breaches of this Clause
                  :-

              

      

       

      
        	
              	
                (a)

              	
                In
                  the case of a tenant which is a partnership the taking in of one
                  or
                  more
                  new
                  partners
                  whether on the death or retirement of an existing partner or
                  otherwise.

              

      

       

      
        	
              	(b)	
                In the
                  case of a tenant which is a corporation any take-over
                  reconstruction amalgamation
                  merger voluntary liquidation or change in the person or persons
                  who
                  owns or own a majority of its voting shares or who otherwise has
                  or have
                  effective
                  control hereof.

              

      

       

      
        	
              	(c)	
                The
                  giving by the Tenant of a Power of Attorney or similar authority
                  whereby
                  the
                  donee of the Power obtains the right to use possess occupy or enjoy
                  the
                  Premises or any part thereof and does in fact use and occupy the
                  same.

              

      

       

      
        
          
          

        

        
          8

          
            

          

        

        
          
          

        

      

       

       

      
        	
              	(d)	
                In
                  the case of a tenant which is a corporation or partnership tenant
                  the
                  permitting
                  of any person other than a bona fide employee employed by the Tenant
                  to use or remain in the Premises.

              

      

      

      
        	
              	(e)	
                In
                  the case of a tenant who is an individual (including a sole surviving
                  partner of a partnership tenant) the death insanity or disability
                  of that
                  individual to the intent that no right to use possess occupy or
                  enjoy the
                  Premises or any part thereof shall vest in the executors administrators
                  personal representatives next of kin trustee or committee of any
                  such
                  individual.

              

      

      

      
        	
              	(f)	
                The
                  change of the Tenant's business name without the previous written
                  consent
                  of the Landlord, which consent shall not be unreasonably
                  withheld.

              

      

       

      BREACH
        OF GOVERNMENT LEASE & DEED OF' MITTUAL COVENANT

       

      
        	
              	(12)	
                Not
                  to do or permit or suffer to be done any act deed matter or thing
                  whatsoever which
                  amounts to a breach of the provisions of the Deed of Mutual Covenant
                  relating to
                  the Building so far as the same relate to the Premises or of any
                  of the
                  terms and conditions
                  under which the Premises are held from the Government and to indemnify
                  the
                  Landlord against any such
                  breach

              

      

       

      INSURANCE
        POLICY

      
         

        
          
            	 	(13)	(a)	
                    To
                      be wholly responsible for and to indemnify the Landlord against
                      any  business
                      therein and to effect and maintain at his sole cost and expense
                      a
                      policyor
                      policies of insurance against the risks hereinbefore mentioned
                      with
                      areputable
                      insurance company in such amount as the Landlord may determine
                      and to produce to the Landlord the policy or policies and the
                      premium
                      receipt
                      on
                      request Provided Always that if the Tenant shall at any time
                      fail to keep
                      such
                      insurance in force, the Landlord may do all things necessary
                      to effect
                      and
                      maintain such insurance and any monies expended by the Landlord
                      for
                      that
                      purpose shall be recoverable from the Tenant on
                      demand.

                  
	 	 	 	 
	 	 	(b)	Not to cause or suffer or permit
                    to be done
                    any act or thing whereby the policy or
                    policies of insurance on the Premises against damage by fire
                    or liability
                    to Third
                    Parties for the time being subsisting may become void or voidable
                    or
                    whereby
                    the rate of premium or premiums thereon may be increased, and
                    to repay to
                    the Landlord on demand all sums paid by the Landlord by way of
                    increased
                    premium or premiums thereon and all expenses incurred by the
Landlord
                    in and about any renewal of such policy or policies arising from
                    or
                    rendered
                    necessary by a breach of this
                    Clause.

          

        

      

       

      EXCLUSION
        OF LIABILITY OF LANDLORD

      
         

        
          
            	 	(5)	 	
                    It
                      is hereby
                      agreed and declared that the
                      Landlord shall not in any circumstances be liable to the Tenant
                      occupier
                      or any other
                      person whomsoever:

                  
	 	 	 	 
	 	 	(1)	
                    in
                      respect of any loss or damage to person or property or any
                      financial loss
                      sustained by
                      the
                      Tenant occupier or any such other person caused by or through
                      or in any
                      way owing
                      to any
                      defect
                      in or breakdown of any fire and security services
                      equipment
                      and other facilities of the Building; or 

                  

          

           

          
            
              
              

            

            
              9

              
                

              

            

            
              
              

            

          

           

          
            
              
                	 	 	(2)	
                        in
                          respect of any loss or damage to person or property or
                          any financial loss
                          sustained by the Tenant occupier or any such other person
                          caused by or
                          through or in any way owing to any failure malfunction
                          explosion or
                          suspension of the electricity or gas or water supply to
                          the Building or
                          the Premises; or 

                      
	 	 	 	 
	 	 	(3)
	in respect of any loss or
                        damage to person or
                        property or any financial loss sustained by
                        the Tenant occupier or any such other person caused by or
                        through or in
                        any way owing to the spread of fire or the overflow or leakage
                        of water
                        from anywhere within the
                        Building or the influx of rain water or sea water into the
                        Building or the
                        Premises or
                        the activity of rats or other vermin in the Building;
                        or
	 	 	 	 
	 	 	(4)	for
                        the security or safekeeping of the. Premises or any persons
                        or contents
                        therein, or
	 	 	 	 
	 	 	
                        (5)

                      	
                        in
                          respect of any loss or damage arising from or on account
                          of any alleged
                          nuisance or interference
                          with the user of the Premises under Clause 4(7) hereof
                          due to any
                          operations
                          being carried on in the Building or any part or parts thereof
                          by the other
                          owners
                          tenants or occupiers thereof,

                      
	 	 	 	 
	 	 	 	nor shall the rent and/or
                        the management
                        charge abate (if any) or cease to be payable on  account
                        thereof.

              

               

              
                
                  
                    	 	6	 	
                            
                              It
                                is hereby further expressly agreed and declared as
                                follows:

                            

                          

                  

                

              

            

          

        

      

       

      ABATEMENT
        OF RENT

       

      
        
          	 	 	(1)	
                  
                    If
                      the Premises or any part thereof shall be destroyed or so damaged
                      by fire
                      typhoon Act
                      of God Force Majeure or other cause beyond the control of the
                      Landlord and
                      not attributable
                      directly or indirectly to any act or default of the Tenant
                      as to be
                      rendered unfit
                      for use and occupation the rent hereby agreed to be paid or
                      a part thereof
                      proportionate
                      to the damage sustained shall cease to be payable until, the
                      Premises
                      shall have been restored or reinstated Provided Always that
                      the Landlord
                      shall be under
                      no obligation to repair or reinstate the Premises if in its
                      opinion it is
                      not reasonable
                      economical or practicable so to do and Provided Further that
                      if the whole
                      or
                      substantially the whole of the Premises shall have been destroyed
                      or
                      rendered unfit for
                      use and occupation and shall not have been repaired and reinstated
                      within
                      six months
                      of the occurrence of the destruction or damage either party
                      shall be
                      entitled at any
                      time before the same are so repaired and reinstated to terminate
                      this
                      Agreement by
                      notice in writing to the
                      other.

                  

                

        

      

       

      DEFAULT

      
         

        
          
            	 	(2)	(a) 	
                    If
                      the rent or any part thereof shall be unpaid for fourteen (14)
                      days after
                      the same
                      shall become payable (whether legally or formally demanded
                      or not) or if
                      the
                      Tenant shall fail or neglect to observe or perform any of the
                      terms or
                      conditions
                      herein contained and on the Tenant's part to be observed and
performed
                      or if the Tenant shall become bankrupt or being a corporation
                      shall go
                      into liquidation or if any petition shall be filed for the
                      winding up of
                      the Tenant
                      or if the Tenant shall otherwise become insolvent or make any
composition
                      or arrangement with
                      creditors
                      or shall suffer any execution to be levied
                      on the Premises or otherwise on the Tenant's goods then and
                      in any such
                      case
                      it shall be lawful for the Landlord at .any time thereafter
                      to re-enter on
                      the Premises
                      or any part thereof in the name of the whole whereupon this
Agreement
                      shall absolutely cease and determine but without prejudice
                      to any
                      right
                      of action by the Landlord in respect of any outstanding breach
                      or
                      non-observance
                      or non-performance of any of the terms and conditions herein
contained
                      and on the Tenant's part to be observed and performed and to
                      the
                      Landlord's right to deduct all loss and damage thereby incurred
                      from the
                      deposit paid by the Tenant in accordance with Clause 7 hereof
                      and without
                      prejudice to the Landlord's right of forfeiture
                      thereof,

                  

          

        

      

       

      
        
          
          

        

        
          10

          
            

          

        

        
          
          

        

      

      

      EXERCISE
        OF RIGHT

      
         

        
          
            	 	 	(b)	
                    A
                      written notice served by the Landlord on the Tenant in manner
                      hereinafter
                      mentioned to the effect that the Landlord thereby exercise
                      the power of
                      re-entry herein contained shall be a full and sufficient exercise
                      of such
                      power without physical entry on the part of the
                      Landlord.

                  

          

        

      

       

      ACCEPTANCE
        OF RENT

       

      
        
          	 	 	(c)	
                  Acceptance
                    of rent by the Landlord shall not be deemed to operate as a wavier
                    by the
                    Landlord of any right to proceed against the Tenant in respect
                    of any
                    breach
                    non-observance of non-performance by the Tenant of any of the
                    terms
                    and
                    conditions herein contained and on the Tenant's part to be observed
                    and
                    performed.

                

        

      

       

      ACTS
        OF LICENSEES

       

      
        
          	 	 	(d)	
                  For
                    the
                    purpose of this Agreement any act default neglect or omission
                    of any
                    servant
                    agent visitor contractor or licensee (as hereinbefore defined)
                    of the
                    Tenant
                    or occupier of the Premises shall be deemed to be the act default
                    neglect
                    or
                    omission of the
                    Tenant.

                

        

      

       

      DISTRAINT

       

      
        
          	 	 	(e)	
                  For
                    the purpose of distress for rent in terms of Part Ill of the
                    Landlord and
                    Tenant
                    (Consolidation) Ordinance (Cap.'7) or any statutory modification
                    or
                    re-enactment
                    for the time being in force and of this Agreement the rent payable
                    in
                    respect of the Premises shall be and be deemed to be in arrears
                    if not
                    paid in advance
                    at the
                    time
                    and in the manner hereinbefore provided for payment thereof.

                

        

      

       

      INTEREST
        ON ARREARS

       

      
        
          	 	 	(f)(i)	
                  If
                    the Tenant
                    shall fail to pay the rents or any other sum due under this Agreement
                    within 14 clays of the due date whether formally demanded or
not
                    the Tenant shall pay to the Landlord interest on the rents or
                    other sum
                    from the date when they were due to the date on which they are
                    paid at the
                    rate
                    of 2% above the best lending rate from time to time quoted by The
                    Hong Kong and Shanghai Banking Corporation Limited and such interest
                    shall
                    be deemed to be rent due to the
                    Landlord.

                

        

      

       

      
        
          
          

        

        
          11

          
            

          

        

        
          
          

        

      

      
         

        
          
            	 	 	(ii)	
                    Nothing
                      in the preceding clause shall entitle the Tenant to withhold
                      or delay
                      any payment of the rents or any other sum due under this Agreement
                      after
                      the date upon which they fall clue or in any way prejudice
                      affect or
                      derogate
                      from the rights of the Landlord in relation to such non-payment
                      including
                      (but without prejudice to the generality of the above) the
                      proviso
                      for
                      reentry contained in this
                      Agreement,

                  

          

        

      

       

      DEPOSIT
        

       

      
        
          	 	7.	(1)	
                  The
                    Tenant shall on the signing hereof deposit with the Landlord
                    the sum
                    specified in Part
                    IV of the First Schedule hereto to secure the due observance
                    and
                    performance by the Tenant of the terms and conditions herein
                    contained and
                    on the Tenant's part to be observed and performed. The said deposit
                    shall
                    be retained by the Landlord throughout the said term free of
                    any interest
                    to the Tenant and in the event of any breach or non-observance
                    or
                    non-performance by the Tenant and of any of the terms or conditions
                    aforesaid the Landlord shall be entitled to terminate this Agreement
                    in
                    which event the said deposit may be forfeited to the Landlord
                    by way of
                    liquidated damages. Notwithstanding the foregoing the Landlord
                    may in any
                    such event at its option elect not to terminate this Agreement
                    but to
                    deduct from the deposit the amount of any monetary loss incurred
                    by the
                    Landlord in consequence of the breach non-observance or non-performance
                    by
                    the Tenant in which event the Tenant shall as a condition precedent
                    to the
                    continuation of the tenancy deposit with the Landlord the amount
                    so
                    deducted and if the Tenant shall fail so to do the Landlord shall
                    forthwith be entitled to re-enter on the Premises or any part
                    thereof in
                    the name of the whole and to determine this Agreement in which
                    event the
                    deposit may be forfeited to the Landlord as hereinbefore
                    provided.

                

        

      

       

      REPAYMENT
        OF DEPOSIT

       

      
        
          	 	 	(2)	
                  Subject
                    as aforesaid
                    the
                    said deposit shall be refunded to the Tenant
                    by the
                    Landlord without
                    interest
                    within fifteen
                    (15) days after the expiration of this Agreement and the
                    delivery of vacant possession to the Landlord or within fifteen
                    (15) days
                    of the settlement
                    of the last outstanding claim by the Landlord against the Tenant
                    in
                    respect of
                    any breach
                    non-observance
                    or
                    non-performance of any of the terms or conditions herein
                    contained and on the part of the Tenant to be observed and performed
                    whichever
                    is the later.

                

        

      

       

      LANDLORD
        AND TENANT LEGISLATION

       

      
        
          	 	8.	(1)	
                  To
                    the extent that the Tenant
                    can lawfully
                    do so, the Tenant hereby expressly agrees to
                    deprive itself of all rights (if any)
                    to protection against
                    eviction or ejectment afforded
                    by
                    any existing or future legislation from time to time in force
and
                    applicable
                    to the Premises to the Landlord on the expiration or sooner termination
                    of
                    the
                    tenancy hereby created notwithstanding any rule or law or equity
                    to the
                    contrary.

                

        

      

       

      CONDONATION
        NOT A WAIVER

       

      
        
          	 	 	(2)	
                  No
                    condoning excusing or overlooking by the Landlord of any default
                    breach or
                    non-observance
                    or non-performance by the Tenant at any time or times of any
                    of the
                    Tenant's
                    obligations herein contained shall operate as a waiver of the
                    Landlord's
                    rights
                    hereunder in respect of any continuing or subsequent default breach
                    or non-observance
                    or non-performance or so as to defeat or affect in any way the
                    rights
                    and
                    remedies of the Landlord hereunder in respect of any such continuing
                    or
                    subsequent
                    default or breach and no waiver by the Landlord shall be inferred
                    from or
                    implied by anything done or omitted by the Landlord unless expressed
                    in
                    writing and signed
                    by the Landlord. Any consent given by the Landlord shall operate
                    as a consent only for the particular matter to which it relates
                    and in no
                    way shall considered as a waiver or release of any of the provisions
                    hereof nor shall it be construed as dispensing with the necessity
                    of
                    obtaining the specific written consent of the Landlord in the
                    future
                    unless expressly so
                    provided.

                

        

      

       

      
        
          
          

        

        
          12

          
            

          

        

        
          
          

        

      

      

      LETTING
        NOTICES

       

      
        
          	 	 	(3)	
                  During
                    the three months immediately preceding the expiration of the
                    said term the
                    Landlord shall be at liberty to affix and maintain without interference
                    upon any external part of the Premises stating that the Premises
                    are to be
                    let and such other information in connection therewith as the
                    Landlord
                    shall reasonably
                    require.

                

        

      

       

      SERVICES
        OF NOTICES 

       

      
        
          	 	 	(4)	
                  Any
                    notice required to be served hereunder shall if to be served
                    on the Tenant
                    be sufficiently served on the Tenant if addressed to the Tenant
                    and sent
                    by prepaid post to
                    or delivered at the Premises or the Tenant's last known place
                    of business
                    or residence
                    in Hong Kong and if to be served on the Landlord shall be sufficiently
                    served
                    if addressed to the Landlord and sent by prepaid post to or delivered
                    at
                    the address
                    given in Part 1 of the First Schedule hereto or any other address
                    which
                    the Landlord
                    may notify to the Tenant from time to
                    time.

                

        

      

       

      NO
        PREMIUM 

       

      
        
          	 	 	(5)	
                  The
                    Tenant acknowledges that no fine premium key money or other consideration
                    has
                    been paid. by the Tenant to the Landlord for the grant of this
                    tenancy.

                

        

      

       

      EXCLUSION
        OF WARRANTIES

       

      
        
          	 	 	(6)	
                  This
                    Agreement sets out the full agreement reached between the parties
                    and no
                    other representations
                    have been made or warranties given relating to the Landlord or
                    the
                    Tenant
                    or
                    the
                    Building or the Premises or the permitted user of the Premises
                    and if
                    any
                    such representation or warranty has been made given or implied
                    the same is
                    hereby
                    waived.

                

        

      

       

      GENDER

       

      
        
          	 	 	(7)	
                  Unless
                    the context otherwise requires words herein importing the masculine
                    gender
                    shall
                    include the feminine and neuter and words herein in the singular
                    shall
                    include the
                    plural and vice
                    versa.

                

        

      

       

      STAMP
        DUTY

       

      
        
          	 	 	(8)	
                  Each
                    party shall pay its own legal costs for the preparation approval
                    and
                    completion of
                    this Agreement BUT the stamp duty payable on this Agreement and
                    its
                    counterpart
                    shall be borne and paid by the parties hereto in equal
                    shares.

                

        

      

       

      
        
          
          

        

        
          13

          
            

          

        

        
          
          

        

      

       

      MARGINAL
        NOTES

       

      
        
          	 	 	(9)	
                  The
                    marginal notes are intended for guidance only and do not form
                    part of this
                    Agreement
                    nor shall any of the provisions of this Agreement be construed
                    or
                    interpreted by reference thereto or in any way affected or limited
                    thereby.

                

        

      

       

      MORTGAGEE
        CONSENT

       

      
        
          	 	9.	(1)	
                  This
                    Agreement shall be subject to written consent being obtained
                    from existing
                    Mortgagee
                    (if any). In the event that such consent is not given as evidenced
                    by a
                    written
                    letter from the existing Mortgagee this Agreement shall automatically
                    determine
                    and the deposit paid hereunder shall be returned to the Tenant
                    but without
                    interest
                    or compensation. The Tenant shall immediately vacate the said
                    Premises and
                    deliver
                    up vacant possession thereof to the Landlord and shall have no
                    claim or
                    right of
                    action against the Landlord for damages or otherwise. The Landlord
                    may
                    deduct from
                    the said deposit any reasonable amount for damage or loss suffered
                    by the
                    Landlord in connection with any breach by the Tenant of any provisions
                    hereunder without prejudice to any right of action that the Landlord
                    may
                    have against the Tenant.

                
	 	 	 	 
	 	 	(2) 	
                  The existing Mortgagee, in giving consent
                    to this
                    Agreement, may request that certain provisions be inserted herein
                    or that
                    certain provisions herein contained be amended (it being understood
                    that
                    such provisions mainly deal with the exemption or liability on
                    the part of
                    the Mortgagee for the performance of the Landlord's covenants
                    herein or
                    for the refund . of the deposit paid hereunder at the expiration
                    or sooner
                    determination of the tenancy). The parties hereto shall agree
                    to any such
                    reasonable provisions or amendments aforesaid which the Mortgagee
                    may
                    request to be made hereto. In case the Mortgagee shall request
                    the Tenant
                    to sign any undertaking/Acknowledgement exempting the Mortgagee's
                    liability to 'refund the said deposit paid hereunder at the expiration
                    or
                    sooner determination of the tenancy, the Tenant shall whenever
                    requested
                    by the Mortgagee sign or give such
                    Undertaking/Acknowledgement.

                

        

      

       

      ASSIGNMENT
        OF PREMISES

       

      
        
          	 	10.	 	
                  
                    In
                      the event that the Landlord shall assign the Premises to any
                      purchaser or
                      Assignee during the term hereby created, the Landlord shall
                      not be liable
                      for the return of the deposit paid by the
                      Tenant hereunder PROVIDED THAT the Landlord shall on
                      completion
                      of such assignment
                      pay over such deposit or any balance thereof to the Purchaser
                      or Assignee
                      of the Premises
                      and shall procure an acknowledgement of the
                      amount
                      received and also an undertaking
                      to return the same to the Tenant on
                      the
                      expiration or sooner determination of
                      the
                      term hereby created
                      given by the Purchaser or Assignee of the
                      Premises.

                  

                

        

      

       

      SPECIAL
        CONDITIONS 

       

      
        
          	 	11.	 	
                  The
                    parties hereto further agree that they shall respectively be
                    bound by and
                    'entitled to the benefit
                    of the Special Conditions (if any) set out in the Third Schedule
                    hereto.

                

        

      

       

      
        
          
          

        

        
          14

          
            

          

        

        
          
          

        

      

      

      AS
        WITNESS whereof the parties hereto have set their hands the day and year
        first above written.

       

      THE
        FIRST SCHEDULE ABOVE REFERRED TO 

      PART
        I

       

      
        	
                Landlord

                 

              	
                NOBLE
                  RAYS HOLDINGS LIMITED whose registered office is situate
                  at Unit 3203. 32"" Floor, Bank of America Tower, 12 Harcourt
                  Road, Central, Hong Kong.

              
	 	 
	
                Tenant

              	
                VAST
                  OPPORTUNITY LIMITED whose registered office is situate
                  at 10/F, New York House, 60 Connaught Road Central, Central,
                  Hong Kong.

              
	 	 

      

      

       

      PART
        II

       

      
        	
                Premises

              	
                ALL
                  THAT UNIT D on the 15th
                  FLOOR of ETON BUILDING ("the
                  Building"), No. 288 Des Voeux Road Central, Hong Kong erected.
                  on Inland Lot No, 1821, Inland Lot No.1822, The Remaining Portion
                  of Inland Lot No. 1823, The Remaining Portion of Inland Lot
                  No 1824, Section A of Inland Lot No, 1825 and The Remaining Portion
                  of Inland Lot No, 1826 which Unit is shown for identification
                  purpose and coloured Pink on the plan annexed
                  hereto.

              

      

       

      PART
        III

       

      
        	
                Term 

              	
                Two
                  (2) YEARS commencing from the 161h
                  day of April 2008 and expiring
                  on the 15th
                  day of April 2010 (both
                  days inclusive),

              

      

       

      PART
        IV 

       

      
        	
                Deposit

              	
                HONG
                  KONG DOLLARS FORTY SIX THOUSAND TWO HUNDRED AND
                  FIFTEEN ONLY (HK $46,215.00) being the deposit
                  equivalent to Three (3) months' Rent, Air-conditioning and Management
                  Charges. 

              

      

       

      
        
          
          

        

        
          15

          
            

          

        

        
          
          

        

      

       

      THE
        SECOND SCHEDULE ABOVE
        REFERRED TO

       

       

      
        	
              	1	
                Rent

              

      

       

      The
        rent
        for the period from. the date of commencement of the said term to the date
        of
expiration
        of the said term shall be HONG
        KONG DOLLARS THIRTEEN THOUSAND
        FOUR HUNDRED AND TIEHRTY ONLY (HM13,430.00) per
        calendar month
        payable on the 1st
        day of
        each calendar month exclusive of Rates, Air-conditioning And Management Charges
        and all other Tenant's outgoings.

       

      
        	
              	2.	
                Air-Conditioning
                  & Management
                  Charges

              

      

       

      HK$1,975.00
        per
        month
        (subject to Clause 2(4) hereinbefore mentioned).

       

      THE
        THIRD SCHEDULE ABOVE REFERRED TO

       

      Special
        Condition(s) (if any)

       

      
        	
              	1.	
                (a)
                  The Premises is at present subject to a Mortgage in favour of Dah
                  Sing
                  Bank, Limited ("the
                  Mortgagee") and this Agreement is conditional upon the written
                  consent of
                  the Mortgagee
                  being obtained and in the event of the Mortgagee failing or refusing
                  to
                  give
                  such consent as aforesaid this Agreement shall become null or void
                  and
                  both parties
                  shall agree and enter into a deed of rescission terminating this
                  Deed and
                  the Tenant
                  shall immediately vacate the Premises and all sums paid hereunder
                  by the
                  Tenant
                  to the Landlord shall be forthwith returned to the Tenant without
                  interest
                  or compensation
                  and the parties hereby waive all claims actions proceedings loss
                  and
                  damages
                  resulted thereof if any against the
                  other.

              

      

       

      
        	
              	 	
                (b)
                  Notwithstanding the payment of the deposit and the monthly rental
                  (if any)
                  by the Tenant
                  hereunder and the Tenant's entry into possession • of the Premises no
                  relationship
                  of Landlord and Tenant is created hereunder unless and until the
                  consent
                  of
                  the Mortgagee shall have been
                  obtained.

              

      

       

      
        	
              	2.	
                The
                  Tenant shall be entitled to a rent free period of One (1) month
                  from the
                  16th
                  day
                  of April
                  2008 to
                  the 15th
                  day of May
                  2008 (both days
                  inclusive) PROVIDED THAT the Tenant
                  shall be solely responsible to pay Rates, Air-conditioning and
                  Management
                  Charges and
                  all other Tenant's outgoings during the rent free
                  period.

              

      

       

      
        	
              	3.	
                Upon
                  expiration or sooner determination of the tenancy hereunder, the
                  Tenant
                  shall deliver vacant
                  possession of the Premises to the Landlord in a "bare shell" condition
                  Provided that the Tenant shall at its own costs and expenses remove
                  all
                  furniture, fittings, fixtures and chattels
                  as shall be found in the Premises or only part(s) thereof as the
                  Landlord
                  shall in its absolute
                  discretion think fit and direct without making any claim against
                  the
                  Landlord for compensation
                  of whatever nature,

              

      

       

      
        
          
          

        

        
          16

          
            

          

        

        
          
          

        

      

       

      AS
        WITNESS the hands of the parties hereto the day and year first above
        written

       

      SIGNED
        BY:

      

      /S/
        Noble Rays Holdings Limited

      

      For
        and
        on behalf of the Landlord

      

      

      /S/
        Vast Opportunity Limited

      

      For
        and
        on behalf of the Tenant

       

      
        
          
          

        

        
          17

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00148-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00148-of-00352.parquet"}]]