Document:

Unassociated Document

     

    Exhibit
10.8

     

    
      The
Strategic Cooperation Agreement of

       

      China
Construction Bank co. ltd . Shaanxi Province Branch

       

      and
China Housing & Land Development, Inc.

       

       

      China
Housing & Land Development, Inc. (“China Housing” or “the
Company”)

       

      Address:
Han Yuan Building, No.6 Youyi East Road, Xi'an, Shaanxi Province, PR
China

       

      Legal
representative (supervisor): Lu, Pingji

       

      Fax: 029-
82582640

       

      Tel: 029-
82582651

       

      Postal
code: 710054

       

       

       

       

       

      China
Construction Bank co. ltd . Shaanxi Province Branch (the “Bank”)

       

      Address:
No.38 South Guangji Street, Xi'an, Shaanxi Province, PR China

       

      Legal
representative (supervisor):  Cui, Binzhou

       

      Fax:
029-87606694

       

      Tel:
029-87606333

       

      Postal
code: 710002

       

       

      
        
          
          

        

        
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      In order
to build up good relationship, promote the development of both Bank and
Enterprise, and pursuit the long-term strategic cooperation between two parties,
China Housing and the Bank reached the following agreements after full
consultation and promise to strictly obey various items in the agreement and
fulfill their own obligations under the principle of equality and mutual
benefit, mutual support, honesty and credibility.

      

      Chapter
One   Business and Special Commitments entrusted by China
Housing to the Bank

      

      Article 1 The commitment of
Opening an Account. China Housing agrees to entrust the Bank as lead bank, and
entrust the Bank to handle bank transactions on condition that the Bank opens a
basic deposit account. China Housing supports that the wholly owned subsidiaries
and holding subsidiaries in Shaanxi entrust the Bank as lead bank.

       

      Article 2 Volume of deposit.
China Housing promises to maintain certain volume of deposits on the Bank’s
account, and if the credit aid of the Bank is obtained, the proportion that
China Housing’s deposits in the Bank’s account over the Company’s total bank
deposit should not be less than the proportion of the Bank’s loan in the total
bank loan of China Housing.

       

      Article 3 Settlement. China
Housing agrees to entrust The Bank to operate 80% of RMB settlement and 80% of
foreign exchange settlement.

       

      Article 4 Financial and credit
commitments. As to financial and credit, China Housing promises to fulfill the
obligations according to borrowing contract, and repay the loan principal and
interest of the Bank on time, and avoid overdue loans. China Housing promises to
maintain a sound financial structure. Liquidity ratio is controlled above 90%,
and asset-liability ratio is controlled below 65%. China Housing provides
audited financial statements to the Bank every quarter, and is responsible for
the credibility of financial data.

       

      
        
          
          

        

        
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      Article 5 Individual mortgage
loans and consumption loans commitment. As to individual mortgage loans and
consumption loans, China Housing promises to comply with the Bank on the
advertising and marketing of individual mortgage loans and consumption loans,
and the individual mortgage loans and consumption loans of the real estate
projects developed by China Housing will be handled in preference by the
Bank.

       

      Article 6 The priority of the
Bank to make other transactions commitment. China Housing promises that the Bank
has the priority to make the following transactions: international settlement,
foreign exchange settlement and sales operations, payroll agency service, credit
card service, enterprise restructuring, asset reorganization and financial
consultation.

       

       

      Chapter
2 Financial Service and Special Commitments Provided by the Bank to China
Housing

      

      Article 7 The commitment of
providing preferential financial service. The Bank is willing to regard China
Housing as important primary customer, and give priority in service to provide various financial
services on condition of permitted by the laws, regulations and financial
policies. The Bank provides RMB 1.0 billion (RMB one billion) comprehensive
credit line to China Housing. The specific loan is conducted in accordance with
relative regulations of the China Construction Bank. The Bank will give full
play to its network advantages of the China Construction Bank to provide
convenient capital settlement service to China Housing.

       

      Article 8 Credit commitment.
In term of financial credit, in accordance with relevant laws, regulations, and
financial policies, as well as credit terms and procedures of the Bank, the Bank
commits to support the Company’s operation and development actively, provide
strong credit aid, exercise prime rate within the scope of practice specified in
the China Construction Bank, including real estate development loans, note discount and various
foreign exchange loans. The procedures of credit and loans are conducted
according to laws, regulations and relative provisions of the China Construction
Bank. The Bank, taking advantage of its foreign financing superiority, is
willing to transact foreign exchange and financial operations, such as project
financing and etc.

       

      
        
          
          

        

        
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      Article 9 The commitment of
individual mortgage loan and consumption loans. In term of individual mortgage
loan and consumption loans, the Bank commits that in order to meet the
requirements of individual mortgage loan and consumption loans that needed by
real estate projects developed by China Housing, the Bank agrees to give
priority in service to provide individual
mortgage loan and consumption loans to China Housing. The specific credit terms
and procedures are conducted according to relevant laws, regulations and
relative provisions of the China Construction Bank. The Bank will provide onsite
contract signing service according to the requirements of China
Housing.

       

      Article 10 The commitment of
providing other business service. The Bank takes advantage of its talent and
information superiority to provide relative economic and financial information
to China Housing, to provide professional advisory services in term of
development strategy, investment business and business policy, to provide
financial consultation service. In return for this, China Housing will
use the Bank’s service for settlement of international business,
foreign exchange settlement and sales operations, payroll agency service, credit
card service, enterprise restructuring, asset reorganization and financial
consultation.

       

       

      Chapter
3 Other Contract Articles

      

      Article 11 Coordination
meeting system. In order to effectively implement the agreement, China Housing
and the Bank establishes coordination meeting system, and major representatives
from both parties will hold coordination meeting once a year to keep contact,
exchange information and resolve the issues during the execution of the
contract.

       

      
        
          
          

        

        
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      Article 12 Appointment of lead
branch. The Bank is entitled to appoint a subsidiary bank as lead branch to
perform the contract.

       

      Article 13 Solution to
disputes. After the contract comes into effect, both parties shall notify the
concerned affiliates and supervise them in their performing of the contract.
During the performance of the contract, if the disputes are occurred or the
relative articles are needed to be amended or supplemented, parties involved
should adhere to the principle of equality and mutual benefit, mutual
understanding and mutual accommodation to reach the settlement through friendly
consultations.

       

      Article 14 Becoming effective.
The contract shall become effective after signing by legal representatives
(supervisor) or authorized representatives of the Parties and stamping of the
cachets of the Parties, the contract shall be valid for 5 years, and the
extension of the contract may be negotiated later by the two parties of this
contract.

       

      Article 15 The contract is in
quadruplicate

       

       

       

      China
Housing (cachet): /s/ Company Seal

       

      Legal
representatives (supervisor) or authorized representative (signature):

       

       

       

      The Bank
(cachet): /s/ Bank Seal

       

      Legal
representatives (supervisor) or authorized representative (signature):

       

      06/18/2008

       

      
        
          
          

        

        
          5Unassociated Document

     

    SETTLEMENT
AGREEMENT

    

    SETTLEMENT AGREEMENT dated and
effective as of the 7th day December 2009 by and between Zion Oil & Gas, Inc. (the
“Company”) and Glen
Perry (the “Employee”).

    

    WITNESSETH

    

    WHEREAS, the Parties entered
into an employment agreement dated January 4, 2004 (the "Employment Agreement");
and

    

    WHEREAS, the Parties wish to
terminate their relationship under the Employment Agreement in accordance with
the terms and conditions hereto

    

    NOW, THEREFORE, in
consideration of the mutual promises and covenants contained in this agreement
the Parties hereby agree as follows:

    

    1.           Representations and Undertakings by
Perry

    

    In
consideration of the undertakings by the Company contained herein, Employee
hereby agrees, represents and covenants as follows:

    

    a)           Employee
acknowledges and agrees that the Section 8 (proprietary information), Section 9
(non-competition) and Section 11 (Taxes) of the Employment Agreement shall
continue in full force and effect in accordance with their terms.

    

    b)           Employee
shall return to the Company all Company property in his possession, control or
under his influence including any Proprietary Information as defined in the
Employment Agreement.

    

    c)           Employee
acknowledges and agrees that the undertakings, release and payments by Company
contained in this Agreement are intended to be made in lieu of any amounts, now
or in the future, payable by Company to Employee under the terms of the
Employment Agreement and in full satisfaction of all claims by Employee to any
payments owing from the Company (and its affiliates, officers, directors,
shareholders, employees, agents, attorneys, insurers, successors and assigns) in
connection with his retention under the Employment Agreements or to any other
demands, claims, rights or privilege.

    

    2.           Representations and Undertakings by
the Company

    

    2.1           In
consideration of the undertakings by the Employee contained herein, Company
hereby agrees, represents and covenants as follows:

    

    a)           Company
acknowledges and agrees that the Section 10 (Indemnification and Insurance) of
the Employment Agreement shall continue in full force and effect in accordance
with its terms with respect to any actions arising during the term of the
Employment Agreement.

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    2

     

     

    b)           Company
shall pay to Employee the aggregate sum of $180,000 less deductions and
withholdings under applicable law customarily made by Company. The said
aggregate sum shall be paid as follows. The sum of $92,150 shall be paid to
Employee on January 4, 2010 and the sum of $43,925 shall be paid to Employee on
each of the first business days of each of the months of February and March of
2010.

    

    c)           All
corporate action on the part of the Company necessary for the authorization,
execution and delivery of this Agreement, the performance of all obligations of
the Company hereunder has been taken.

    

    3.           Termination of Agreements &
Other Positions

    

    3.1           Upon
execution hereof by both Parties the Employment Agreement shall automatically
and without any further action on the part of the Parties be terminated, except
to the extent otherwise provided herein.

    

    3.2           By
his execution of this Agreement, and without any further action, Employee hereby
resigns, effective immediately, from any positions he holds with the Company,
the Abraham Foundation (Switzerland) and the Bnei Joseph Foundation (R.A)
(Israel) including as an officer, executive, member or as a
director.

    

    4.           Releases

    

    4.1           In
consideration of the full and timely performance of the undertakings of Company
in this Agreement, and the release contained in Section 4.2 below, Employee (and
each of his respective, attorneys, agents, heirs, successors, executors,
personal representatives and assigns) does hereby absolutely and unconditionally
waive, release and forever discharge Company (and its affiliates, officers,
directors, shareholders, employees, agents, attorneys, insurers, successors and
assigns) from any claims, demands, obligations, liabilities, rights, causes of
action and damages, whether liquidated or unliquidated, absolute or contingent,
known or unknown, arising prior to or concurrent with the date hereof,
including, without limitation, any claim under the Employment Agreement, claims
under any labor laws and regulations including claims for wrongful termination,
claims with respect to the stock options, claims with respect to any other
payment required under law or claims with respect to or under any government
regulatory authorities or agencies. The foregoing release shall not be construed
as a waiver by Employee of the compliance by the Company with its undertakings
contained in this Agreement.

    

    4.2           In
consideration of the full and timely performance of the undertakings of Employee
in this Agreement and the release in Section 4.1 above, the Company (and its
officers, directors, shareholders, employees, attorneys, agents, successors, and
assigns) does hereby absolutely and unconditionally waive, release and forever
discharge Employee and his respective, agents, attorneys, insurers, successors,
executors and assigns, from any claims, demands, obligations, liabilities,
rights, causes of action and damages, whether liquidated or unliquidated,
absolute or contingent, known or unknown, arising prior to or concurrent with
the date hereof, including, without limitation, any claim under the Employment
Agreement or claims with respect to or under any government regulatory
authorities or agencies. The foregoing release shall not be construed as a
waiver by the Company of the compliance by Employee of his undertakings
contained in this Agreement.

    
      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      3

       

    5.           Reliance
and Complete Agreement.

    

    The
parties acknowledge and agree that in the execution of this Agreement, neither
has relied upon any representation by any party or attorney, except as expressly
stated herein. Moreover, this Agreement shall represent the complete and entire
agreement between the parties, to the exclusion of any and all other prior or
concurrent terms, written or oral.  No supplement, modification or
waiver or termination of this Agreement or any provision hereof shall be binding
unless executed in writing by the parties to be bound thereby.

    

    6.           Headings.

    

    Section
and subsection headings are not to be considered part of this Agreement and are
included solely for convenience and are not intended to be full or accurate
descriptions of the content thereof.

    

    7.           Successors
and Assigns.

    

    Except as
otherwise provided in this Agreement, all the terms and provisions of this
Agreement shall be upon, and shall inure to the benefit of, the parties hereto
and their respective heirs, personal representatives, successors and
assigns.

    

    8.           Counterparts.

    

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

    

    9.           Entire
Agreement.

    

    This
Agreement may be executed in counterparts. This Agreement constitutes the entire
agreement among the parties hereto with respect to the subject matter hereof and
supersedes any prior or contemporaneous understanding or agreement, written or
verbal, among the parties with respect to the subject matter
hereof.

    

    10.           Governing
Law; Jurisdiction and Forum.

    

    This
Agreement, its interpretation, validity, construction, enforcement and effect
shall be governed by and construed under the laws of the State of Texas without
reference or effect to the principles of conflict of laws. Each of the parties
consents to the jurisdiction of the appropriate court in the County of Dallas in
connection with any dispute arising under this Agreement and hereby waives, to
the maximum extent permitted by law, any objection, including any objection
based on forum non conveniens, to the bringing of any such proceeding in such
jurisdictions.

    
      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      4

       

    12.           Representations.

    

    Each of
Employee and the Companies acknowledges that they have had the opportunity to
consult with legal counsel respecting this Agreement. Each person executing this
Agreement on behalf of a corporation hereby represents and warrants that he has
been authorized to do so by all necessary corporate action.

    

    13.           Non-Disparagement.

    

    Neither
of the Parties (and their respective heirs, personal representatives,
successors, affiliates, subsidiaries, officers or stockholders), shall disparage
the other Party hereto or their businesses. For greater certainty the Employee
shall henceforth refrain from making any comments, directly or indirectly, in
any forum or media (verbal or written) concerning the Company or its affiliates,
officers, directors, shareholders, employees, agents and attorneys.

    

    14.           Filings.

    

    The Company shall file a current report
on Form 8-K relating to the subject matter of this Agreement, and a copy of this
agreement shall be filed as an exhibit thereto.

    

    IN WITNESS WHEREOF, each of
the parties has set forth its/ his signature as of the date first written
above.

     

    
      	 	 	 	 	 
	Zion
      Oil & Gas, Inc.	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	
              /s/
      Richard Rinberg

            	 	 	
              /s/ Glen
      Perry

            	 
	
              Richard
      Rinberg  

            	 	 	
              Glen
      Perry

            	 
	
              CEO

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