Document:

f8k032910ex10viii_exp4.htm

    
      EXHIBIT 10.8

       

      LOCKUP
AGREEMENT

      

      This AGREEMENT (the “Agreement”) is
made as of the date set forth on the signature page of this Agreement by
________ (“Holder”) in connection with the ownership of shares of Expedite
4, Inc., a Nevada corporation (the “Company”). Capital terms used and not
otherwise defined herein shall have the respective meanings set for in the
Private Placement Memorandum of the Company, dated as of February 1, 2010, and
its attachments thereto (the “Memorandum”).

      

      NOW THEREFORE, for good and valuable
consideration, the sufficiency and receipt of which consideration are hereby
acknowledged, Holder agrees as follows:

      

      1.           Background.

      

      a.           The
Company is offering to certain investors (the “Investors”), on a “best efforts”
basis, investment units (“Units”), each Unit consisting of (i) two (2) shares of
the Company’s common stock, par value $0.001 per share (the “Common Stock”) and
(ii) warrants to purchase one (1) share of the Company’s Common Stock at an
exercise price of $5.50 per share (the “Warrants” and collectively with the
Common Stock, the “Securities”), for aggregate gross proceeds of a minimum of
$5,000,000 and up to a maximum of $10,000,000 (the “Offering”), in reliance upon
an exemption from securities registration afforded by the provisions of Section
4(2), Section 4(6), Regulation D and/or Regulation S as promulgated by the
United States Securities and Exchange Commission  under the Securities
Act of 1933, as amended;

       

      b.           Holder
is the beneficial owner of the amount of Common Stock of the Company designated
on the signature page hereto.

      

      c.           As
a condition to the Offering and as an inducement to the Investors to enter into
a subscription agreement dated March 29, 2010 (the “Subscription Agreement”),
Holder understands that the Investors have required, and the Company has agreed
to obtain on behalf of the Investor an agreement from the Holder to refrain from
selling any of the Lockup Shares, as defined below, for a period of eighteen
(18) months from the Closing of the Offering (“Restricted Period”).

      

      2.           Sale
Restriction.

      

      a.           Holder
hereby agrees that during the Restriction Period, the Holder will not offer,
pledge, sell, contract to sell, sell any option or contract to purchase, lend,
transfer or otherwise dispose of any Common Stock or any options, warrants or
other rights to purchase Common Stock or any other security of the Company which
Holder owns or has a right to acquire as of the date hereof (collectively, the
“Lockup Shares”), other than in connection with an offer made to all
shareholders of the Company in connection with merger, consolidation or similar
transaction involving the Company.  Holder further agrees that the
Company is authorized to and the Company agrees to place “stop orders” on its
books to prevent any transfer of the Lockup Shares held by Holder in violation
of this Agreement.  The Company agrees not to allow to occur any
transaction inconsistent with this Agreement.

      

      b.           Any
subsequent issuance to and/or acquisition by Holder of Common Stock or options
or instruments convertible into Common Stock will be subject to the provisions
of this Agreement.

      

      c.           Notwithstanding
the foregoing restrictions on transfer, the Holder may, at any time and from
time to time during the Restriction Period, transfer the Common Stock (i) as
bona fide gifts or transfers by will or intestacy, (ii) to any trust for the
direct or indirect benefit of the undersigned or the immediate family of the
Holder, provided that any such transfer shall not involve a disposition for
value, (iii) to a partnership which is the general partner of a 

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

       

      partnership
of which the Holder is a general partner, provided, that, in the case of any
gift or transfer described in clauses (i), (ii) or (iii), each donee or
transferee agrees in writing to be bound by the terms and conditions contained
herein in the same manner as such terms and conditions apply to the undersigned.
For purposes hereof, “immediate family” means any relationship by blood,
marriage or adoption, not more remote than first cousin.

      

      3.           Miscellaneous.

      

      a.           At
any time, and from time to time, after the signing of this Agreement Holder will
execute such additional instruments and take such action as may be reasonably
requested by the Investor to carry out the intent and purposes of this
Agreement.

      

      b.           This
Agreement shall be governed by and construed in accordance with the laws of the
State of Delaware without regard to principles of conflicts of
laws.  Any action brought by either party against the other concerning
the transactions contemplated by this Agreement shall be brought only in the
state courts of New York or in the federal courts located in the state of New
York.  The parties to this Agreement hereby irrevocably waive any
objection to jurisdiction and venue of any action instituted hereunder and shall
not assert any defense based on lack of jurisdiction or venue or based upon
forum non
conveniens.  The parties executing this Agreement
and other agreements referred to herein or delivered in connection herewith
agree to submit to the in personam jurisdiction of such courts and hereby
irrevocably waive trial by jury.  The prevailing party shall be
entitled to recover from the other party its reasonable attorney’s fees and
costs.  In the event that any provision of this Agreement or any other
agreement delivered in connection herewith is invalid or unenforceable under any
applicable statute or rule of law, then such provision shall be deemed
inoperative to the extent that it may conflict therewith and shall be deemed
modified to conform with such statute or rule of law.  Any such
provision which may prove invalid or unenforceable under any law shall not
affect the validity or enforceability of any other provision of any
agreement.  Notices hereunder shall be given in the same manner as set
forth in the Subscription Agreement.  Each party hereby irrevocably
waives personal service of process and consents to process being served in any
suit, action or proceeding in connection with this Agreement or any other
Offering Documents by mailing a copy thereof via registered or certified mail or
overnight delivery (with evidence of delivery) to such party at the address in
effect for notices to it under this Agreement and agrees that such service shall
constitute good and sufficient service of process and notice
thereof.  Nothing contained herein shall be deemed to limit in any way
any right to serve process in any other manner permitted by
law.  Holder irrevocably appoints the Company its true and lawful
agent for service of process upon whom all processes of law and notices may be
served and given in the manner described above; and such service and notice
shall be deemed valid personal service and notice upon Holder with the same
force and validity as if served upon Holder.

      

      c.           The
restrictions on transfer described in this Agreement are in addition to and
cumulative with any other restrictions on transfer otherwise agreed to by the
Holder or to which the Holder is subject to by applicable law.

      

      d.           This
Agreement shall be binding upon Holder, its legal representatives, successors
and assigns.

      

      e.           This
Agreement may be signed and delivered by facsimile signature and delivered
electronically.

      

      f. The
Company agrees not to take any action or allow any act to be taken which would
be inconsistent with this Agreement.

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

       

       

      g. The
Holder acknowledges that this Lockup Agreement is being entered into for the
benefit of the Investors identified in the Subscription Agreement and may be
enforced by the Investors and may not be amended without the consent of the
Investors, which may be withheld for any reason.

      

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

       

      IN
WITNESS WHEREOF, and intending to be legally bound hereby, Holder has executed
this Agreement as of the day and year first above written.

      

      
         

        
          	 	HOLDER:	 
	 	 	 
	 	/s/ Xin Zhao	 
	 	(Signature of
      Holder)	 
	 	 	 
	 	Xin
      Zhao    	 
	 	(Print Name of
      Holder)	 
	 	 	 
	 	0	 
	 	Amount of Common
      Stock Beneficially Owned	 
	 	 	 

        

      

      

        
          	 	COMPANY:	 
	 	EXPEDITE
      4, INC.	 
	 	 	 	 
	
                   

                	
                  By:
      

                	/s/ Luping
      Pan	 
	 	 	Name: Luping
      Pan	 
	 	 	Title: Chief
      Executive Officer	 
	 	 	 	 

        

      

      

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      

      IN
WITNESS WHEREOF, and intending to be legally bound hereby, Holder has executed
this Agreement as of the day and year first above written.

      

      
         

        
          	 	HOLDER:	 
	 	 	 
	 	/s/ Shu
    Kaneko	 
	 	(Signature of
      Holder)	 
	 	 	 
	 	Shu Kaneko	 
	 	(Print Name of
      Holder)	 
	 	 	 
	 	0	 
	 	Amount of Common
      Stock Beneficially Owned	 

        

         

      

       

      
        
          	 	COMPANY: 

                  EXPEDITE
      4, INC.

                	 
	 	 	 	 
	
                   

                	
                  By:
      

                	/s/ Luping
      Pan	 
	 	 	Name: Luping
      Pan	 
	 	 	Title: Chief
      Executive Officer	 
	 	 	 	 

        

      

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      

      IN
WITNESS WHEREOF, and intending to be legally bound hereby, Holder has executed
this Agreement as of the day and year first above written.

      

      
         

        
          	 	HOLDER:	 
	 	 	 
	 	/s/ Dengfu Xu	 
	 	(Signature of
      Holder)	 
	 	 	 
	 	Dengfu Xu 	 
	 	(Print Name of
      Holder)	 
	 	 	 
	 	0	 
	 	Amount of Common
      Stock Beneficially Owned	 

        

         

      

      
        
          	 	COMPANY:	 
	 	EXPEDITE
      4, INC.	 
	 	 	 	 
	
                   

                	
                  By:
      

                	/s/ Luping
      Pan	 
	 	 	Name: Luping
      Pan	 
	 	 	Title: Chief
      Executive Officer	 
	 	 	 	 

        

      

      
 

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      

      IN
WITNESS WHEREOF, and intending to be legally bound hereby, Holder has executed
this Agreement as of the day and year first above written.

       

       

      
        	 	HOLDER:	 
	 	 	 
	 	/s/ Luping
    Pan	 
	 	(Signature of
      Holder)	 
	 	 	 
	 	Luping
      Pan 	 
	 	(Print Name of
      Holder)	 
	 	 	 
	 	0	 
	 	Amount of Common
      Stock Beneficially Owned	 

      

       

       

      
        
          	 	COMPANY:	 
	 	EXPEDITE
      4, INC	 
	 	 	 	 
	
                   

                	
                  By:
      

                	/s/ Luping
      Pan	 
	 	 	Name: Luping
      Pan	 
	 	 	Title: Chief
      Executive Officer	 
	 	 	 	 

        

      

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      

      IN
WITNESS WHEREOF, and intending to be legally bound hereby, Holder has executed
this Agreement as of the day and year first above written.

       

       

      
        	 	HOLDER:	 
	 	 	 
	 	/s/ Liqiang
      Song	 
	 	(Signature of
      Holder)	 
	 	 	 
	 	Liqiang
      Song 	 
	 	(Print Name of
      Holder)	 
	 	 	 
	 	5,061,220	 
	 	Amount of Common
      Stock Beneficially Owned	 

      

       

       

      
        
          	 	COMPANY:	 
	 	EXPEDITE
      4, INC.	 
	 	 	 	 
	
                   

                	
                  By:
      

                	/s/ Luping
      Pan	 
	 	 	Name: Luping
      Pan	 
	 	 	Title: Chief
      Executive Officerf8k032610ex10i_clearlite.htm

Exhibit 10.1

 

FORM OF

Logistics Agreement

 

THIS AGREEMENT (this “Agreement”) is made and entered into this ______ day of ____________________ 20__ by and between TAG Industries, Inc., A Wholly Owned Subsidiary of Clear-Lite Holdings, Inc. (“TAG” or the “Company”) having its principal place of business at 102 NE 2nd Street, PMB 400, Boca Raton, FL 33432-3908 U.S.A., and _________________________ (”Logistics Provider” or “LP”) having its principal place of business at ______________________________________________ (collectively, the “Parties”).

	
1.  

	
EXCLUSIVE RELATIONSHIP. Company and LP will share an exclusive relationship related to the attached list of accounts (the “Accounts”) for all lighting products attached hereto as Exhibit A. Any contemplated commercial transaction related to the Accounts shall be performed jointly by the Parties.

	
2.  

	
TERM. This Agreement commences as of the date first written above and continues in effect for ________ (__) years from the date of this Agreement.  This Agreement may be terminated at any time by mutual written consent. In the event LP achieves the minimum volume levels outlined in Exhibit B, Table 1, LP will qualify for an automatic ______ (__) year renewal under new minimum volume levels for years ________________ outlined in Exhibit B, Table 3, and so on. Future minimum volume levels for years _______ and beyond shall be based on a similar percentage increase, unless mutually agreed otherwise.

	
3.  

	
COMPANY SALES AND BRANDS. Company will sell the ClearLite® brand, private label and direct import business through LP only in ________________, to any account on the approved list in Exhibit A, subject to the Parties mutual agreement on pricing and programs.

	
4.  

	
ACCOUNT CHANGES. Any changes to the Accounts listed on Exhibit A shall require mutual approval in writing by the Parties.

	
5.  

	
CUSTOMER PURCHASES. All customer purchases will be placed directly with LP subject to LP’s final approval(s).

	
6.  

	
COMPANY RESPONSIBILTIES.

	
a.  

	
Company will provide all the product sourcing, marketing strategies and Company approved independent sales agencies.

	
b.  

	
All orders will be based on approved pricing provided to LP from TAG.

 

  

1

  

 

	
7.  

	
LP RESPONSBILITIES.

	
a.  

	
LP will perform all the logistics for activities related to fulfillment and distribution including, without limitation, billing, shipping, Electronic Data Interchange (EDI), and importing of product.

	
b.  

	
LP will place all orders with TAG using a Transferable Irrevocable Domestic Letter of Credit (“LC” or the “Letter of Credit”) in US Dollars.

	
c.  

	
LP will be responsible for transportation, duty, etc. when importing these products.

	
d.  

	
LP shall furnish Company with monthly statements indicating all sales-related transactions during the preceding month and the extent of current inventory. Such statements shall be delivered electronically no later than the seventh (7th) day of each month in Microsoft Excel and PDF formats.

	
8.  

	
LETTER OF CREDIT DISCOUNT. LP will receive a _____% Discount for the above mentioned Letter of Credit in US Dollars. As reflected in current price sheets, it will be netted out from Net Freight On Board  (FOB shipping point) Orient pricing. Refer to current authorized price quotes. Subject to certain terms and conditions.

	
9.  

	
PRICING AND PROGRAMS.

	
a.  

	
Any account pricing and programs will be approved by LP before they can be considered official. All Accounts will require LP's approval for billing and invoicing terms and programs.

	
b.  

	
Company has provided to LP “Net/Net/Net/Net pricing” (e.g. less marketing programs and other customary allowances including freight, defective allowance, discount for Letter of Credit, holdbacks and returns) that will allow LP to accrue a ____% defective allowance, based on their customers invoice cost. In most cases, _____% will be passed through to customer with LP holding back an additional ____%.

	
c.  

	
If LP's actual defective exceeds _____%, Company will compensate LP for the difference in the form of an approved credit memo.

	
10.  

	
LP MINIMUM VOLUME LEVELS AND POTENTIAL VOLUME REBATES. Both minimum volume levels and potential volume rebates for LP are outlined in Exhibit B.

	
11.  

	
ASSIGNABILITY. Neither this Agreement nor any interest herein may be assigned, in whole or in part, by either Party without the prior written consent of the other Party and any purported assignment made in violation of this Clause shall be void; provided, however, that each Party hereto shall have the right to assign this Agreement to any entity which, by way of: (i) merger, or (ii) consolidation, or (iii) the acquisition of substantially all of the entire business and assets of the assigning Party relating to the subject matter of this Agreement, succeeds to the interest in the program of the assigning Party.  Such consent shall not be unreasonably withheld, so long as such assignment does not materially affect the nature and the scope of the rights and benefits due the non-assigning Party under the terms of this Agreement.  The assigning Party shall expressly require its assignee to assume all of the assigning Party's obligations and liabilities under this Agreement.

 

  

2

  

 

	
12.  

	
OEM RELATIONSHIPS. This Agreement does not include Original Equipment Manufacturer (“OEM”) relationships unless mutually agreed upon in writing.

	
13.  

	
GOVERNING LAW AND JURISDICTION. Any claim or action under this Agreement shall be governed and construed in accordance with the laws of the United States, specifically the State of Florida, without reference to its conflicts of law principles.  The United Nations Convention on Contracts for the International Sale of Goods shall not apply to this Agreement.  In any action, dispute or controversy arising either directly or indirectly, under or in connection with this Agreement, the parties hereby consent and submit to binding arbitration before the American Arbitration Association in Miami, Florida under its expedited dispute resolution procedures under the Commercial Rules.

	
14.  

	
ATTORNEY'S FEES. In any arbitration or litigation brought under this Agreement or relating to any alleged breach of this Agreement, the prevailing party shall be entitled to recover, in addition to all damages suffered, its reasonable attorneys' fees and costs.

	
15.  

	
FURTHER ASSURANCES. Each of the parties hereto, upon the reasonable request of the other party, shall perform all acts and execute and deliver all documents as may be reasonably necessary or appropriate to carry out the provisions and intent of this Agreement.

	
16.  

	
TIME IS OF THE ESSENCE.  Time is of the essence with respect to all provisions of this Agreement that specify a time for performance; provided, however, that the foregoing shall not be construed to limit or deprive a party of the benefits of any grace or use period allowed in this Agreement.

	
17.  

	
INDEMNIFICATION.

	
a.  

	
The Company agrees to indemnify LP and its controlling persons, directors, officers, managers, partners, members, shareholders, affiliates, agents, representatives, successors and assigns (collectively, the "Representatives") from and against any and all losses, liabilities, deficiencies, costs, damages and expenses (including, without limitation, reasonable attorneys’ fees, charges and disbursements) (collectively, the “Losses”) incurred by the Company as a result of any claim, action or proceeding related to this agreement;

	
b.  

	
LP agrees to indemnify the Company and its Representatives from and against the Losses incurred by LP as a result of any claim, action or proceeding related to this agreement.

	
18.  

	
SEVERABILITY. The provisions of this Agreement shall be deemed severable and the invalidity of unenforceability of any provision shall not affect the validity or enforceability of the other provisions hereof.

 

  

3

  

 

	
19.  

	
COUNTERPARTS. This Agreement may be executed in counterparts, each of which shall be deemed an original but all of which shall constitute one and the same instrument.

	
20.  

	
CONFIDENTIALITY.  LP shall not disclose to others or use, whether directly or indirectly, any Confidential Information regarding the Company, except (i) as in good faith deemed necessary by LP to perform its duties hereunder, (ii) to enforce any rights or defend any claims hereunder or under any other agreement to which the LP is a party, provided that such disclosure is relevant to the enforcement of such rights or defense of such claims and is only disclosed in the formal proceedings related thereto, (iii) when required to do so by a court of law, by any governmental agency having supervisory authority over the business of the Company or by any administrative or legislative body (including a committee thereof) with jurisdiction to order LP to divulge, disclose or make accessible such information, provided that LP shall give prompt written notice to the Company of such requirement, disclose no more information than is so required, and cooperate with any attempts by the Company to obtain a protective order or similar treatment, (iv) as to such Confidential Information that shall have become public or known in the Company's industry other than by LP's unauthorized disclosure, or (v) to the LP's attorney and/or tax and financial advisors as reasonably necessary or appropriate to advance LP's tax, financial and other planning (each an “Exempt Person”), provided, however, that any disclosure or use of Confidential Information by an Exempt Person shall be deemed to be a breach of this Section 19 by LP. LP shall take all reasonable steps to safeguard the Confidential Information and to protect it against disclosure, misuse, espionage, loss and theft.  LP understands and agrees that LP shall acquire no rights to any such Confidential Information. “Confidential Information” shall mean information about the Company, its subsidiaries and affiliates, and their respective manufacturers, suppliers, customers, and vendors that was learned by LP during the course of this Agreement with the Company, including, but not limited to, any proprietary knowledge, trade secrets, data and databases, formulae, sales, financial, marketing, training and technical information, factory, manufacturer, customer, supplier and vendor lists, competitive strategies, computer programs and all papers, resumes, and records (including computer records) of the documents containing such Confidential Information.

	
21.  

	
NOTICES. For the purpose of this Agreement, notices and all other communications provided for in this Agreement shall be in writing and shall be deemed to have been duly given (1) on the date of delivery if delivered by hand, (2) on the date of transmission, if delivered by confirmed facsimile, (3) on the first business day following the date of deposit if delivered by guaranteed overnight delivery service, or (4) on the fourth business day following the date delivered or mailed by United States registered or certified mail, return receipt requested, postage prepaid, addressed as follows:

  

4

  

If to the LP:

If to the Company:

TAG Industries, Inc.

Thomas J. Irvine

102 NE 2nd Street, Suite 400

Boca Raton, Florida 33432-3908 U.S.A.

Tel: (561) 544-6966

Fax: (561) 852-2322

	
22.  

	
NON-DISPARAGEMENT. Both parties agree they shall not, and shall not induce others to, Disparage either party or its subsidiaries or affiliates or their past and present officers, directors, employees or products. “Disparage” shall mean making comments or statements to the press, either party or its subsidiaries' or affiliates' employees or any individual or entity with whom either party or its subsidiaries or affiliates has a business relationship which would adversely affect in any manner (1) the business of either party or its subsidiaries or affiliates (including any products or business plans or prospects), or (2) the business reputation of either party or its subsidiaries or affiliates, or any of their products, or their past or present officers, directors or employees.

	
23.  

	
NON-SOLICITATION OF FACTORIES. LP agrees that, LP will not, directly or indirectly, solicit or attempt to solicit (i) any party who is a manufacturer or supplier of the Company or its subsidiaries, who was a manufacturer or supplier of the Company or its subsidiaries at any time during the twenty four (24) month period immediately prior to the date the Agreement terminates or who is a prospective manufacturer or supplier that has been identified and targeted by the Company or its subsidiaries for the purpose of marketing, selling or providing to any such party any services or products offered by or available from the Company or its subsidiaries, or (ii) any vendor to the Company or any subsidiary to terminate, reduce or alter negatively its relationship with the Company or any subsidiary or in any manner interfere with any agreement or contract between the Company or any subsidiary and such vendor.

	
24.  

	
ENTIRE AGREEMENT. This Agreement contains the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior agreements, written or oral, with respect thereto. No agreements or representations, oral or otherwise, express or implied, with respect to the subject matter hereof have been made by either party which are not expressly set forth in this Agreement.  This Agreement shall not be modified by any oral representation made before or after the execution of this Agreement. All modifications must be in writing and signed by the parties.

  

5

  

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed by their respective duly authorized officers.

	
 

 

By:           

Name:         

Title:                        

	
TAG INDUSTRIES, INC.

 

 

By:                                        

Name: Thomas J. Irvine

Title:  President & CEO

 

  

6

  

 

EXHIBIT A

[EXCLUSIVE RELATIONSHIP FOR ATTACHED LIST OF ACCOUNTS BELOW]

 

 

  

7

  

 

EXHIBIT B

[MINIMUM VOLUME LEVELS FOR LP AND VOLUME REBATES]

	
TABLE 1

	
LP Minimum Volume Levels

YEARS 1, 2 and 3

(all figures below in US Dollars)

	
Year 1

	
Year 2

	
Year 3

	  	  	  

	
TABLE 2

	
LP Volume Rebates

YEARS 1, 2 and 3

(all figures below in US Dollars)

	
Potential Volume Rebate

	
Year 1

	
Year 2

	
Year 3

	  	  	  	  
	  	  	  	  
	  	  	  	  
	  	  	  	  

8

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