Document:

Amendments to Asset Purchase Agreement

 Exhibit 10.4 
 AMENDMENT No. 1 
 This Amendment No. 1, dated as of December 31, 2007, is between
Unisys Corporation, a Delaware corporation (“Seller”), and FLO Corporation, a Delaware Corporation (“Buyer”), and it amends that certain Asset Purchase Agreement dated as of October 5, 2007 (the
“Agreement”), between Seller and Buyer. Capitalized terms used herein without definition shall have the meanings given such terms in the Agreement. 
 For good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound, the parties hereto agree that the Agreement is hereby amended as follows:

  

	 	1.	Article I “Definitions” of the Agreement is hereby amended as follows: 

  

	 	a.	The definition of “Closing Payment” is amended to replace the reference to “Section 2.5(a)” with a reference to “Section 2.5(b)”.

  

	 	b.	There is inserted in the proper alphabetical order the following definition: 

 “Deposit” shall mean the $1,200,000 deposit remitted by Buyer to Seller on December 31, 2007, such amount to be dealt with as set forth in Sections 2.5 and 2.6 of this Agreement. 
  

	 	c.	The definitions of “Promissory Note” and “Security Agreement” are deleted. 

  

	 	d.	The definition of “Transaction Documents” is amended to delete the references to “the Promissory Note” and “the Security Agreement”.

  

	 	2.	Section 2.1(f) is amended to insert, immediately after the word “including” the following “, subject to Section 5.12 hereof,”.

  

	 	3.	Section 2.5 is amended to read in its entirety as follows: 

 Section 2.5 Purchase Price. 
  

	 	(a)	As consideration for the Transferred Assets, which will include additional enhancements to the interface software for rtGO, in addition to assuming the Assumed Liabilities, Buyer
shall pay to Seller $8,780,000 (the “Purchase Price”). 

  

	 	(b)	 The Purchase Price (less the Deposit and less the amount of Prepaid Memberships as of the Closing Date)(such amount, the 

	 	 
“Closing Payment”) shall be paid at the Closing by wire transfer of immediately available funds to the Seller Account.

  

	 	(c)	One day prior to the Closing Date, Seller shall inform Buyer of the amount of Prepaid Memberships as of such date so that Buyer may deduct such amount from the amount due at
Closing. 

  

	 	4.	The first sentence of Section 2.6(a) is amended to read in its entirety as follows: 

  

	 	(a)	Closing Date. The closing of the transactions contemplated by this Agreement (the “Closing”) shall take place at the offices of Unisys Corporation, Unisys Way, Blue Bell,
PA 19422 on the fifth Business Day following the date on which all the conditions to Closing in Article VI are satisfied or waived, or on such other date or at such other location as may be mutually agreed upon by Buyer and Seller. The time and date
on which the Closing occurs is hereinafter referred to as the “Closing Date.” The Closing shall be effective as of the Effective Time. 

  

	 	5.	Section 2.6(b)(iii) is amended to delete the words “and the Promissory Note”. 

  

	 	6.	Section 2.6 is amended to insert a new subsection (d) thereof to read in is entirety as follows: 

  

	 	(d)	Buyer shall forfeit and Seller shall be entitled to retain the Deposit if Seller shall have terminated this Agreement pursuant to Section 9.1(b) and Buyer’s failure to
fulfill any of its obligations under this Agreement shall have been the principal cause of the failure of the Closing Date to have occurred on or prior to February 29, 2008. 

  

	 	7.	Section 5.12 of the Agreement is amended to delete the words “Promptly after the date of this Agreement,” and replace them with the words “Promptly after the
satisfaction or waiver of all the conditions to Closing in Article VI,”. 

  

	 	8.	Section 6.1 of the Agreement is amended to insert a new subsection (h) thereof to read in is entirety as follows: 

  

	 	(h)	Buyer shall have obtained financing or other sources of capital sufficient to enable it to make the Closing Payment. 

  

	 	9.	Section 6.2 of the Agreement is amended to insert a new subsection (g) thereof to read in is entirety as follows: 

  

	 	(g)	Buyer shall have obtained financing or other sources of capital sufficient to enable it to make the Closing Payment. 

	 	10.	Section 9.1(b) of the Agreement is amended to delete the words “December 31, 2007” and to replace them with the words “February 29, 2008”.

  

	 	11.	Section 9.2 is amended to insert the words “Section 2.6(d),” immediately after the words “notwithstanding anything to the contrary herein,” and immediately
before the words “this Section 9.2,”. 

  

	 	12.	On and after the date hereof, all references to the “Agreement” shall be deemed to be references to the Agreement as amended by this Amendment No. 1, and the
Agreement as so amended shall continue to be in full force and effect and is hereby in all respects ratified and confirmed. 

 IN WITNESS
WHEREOF, this Amendment No. 1 has been signed on behalf of each of the parties hereto as of the date first above written. 
  

			
	FLO CORPORATION
		
	By:	 	 /s/

	Name:	 	
	Title:	 	
	
	UNISYS CORPORATION
		
	By:	 	 /s/

	Name:	 	
	Title:	 	

 AMENDMENT No. 2 
 This Amendment No. 2, dated as of February 28, 2008, is between Unisys Corporation, a Delaware corporation (“Seller”), and FLO Corporation, a Delaware Corporation (“Buyer”), and it
further amends that certain Asset Purchase Agreement dated as of October 5, 2007 (as amended by Amendment No. 1 thereto dated as of December 31, 2007, the “Agreement”). Capitalized terms used herein without definition shall have the
meanings given such terms in the Agreement. 
 For good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, and intending to be legally bound, the parties hereto agree that the Agreement is hereby amended as follows: 
  

	 	1.	Sections 2.6(d) and 9.1(b) of the Agreement are each hereby amended to delete the words “February 29, 2008” and to replace them with the words “March 11, 2008”.

  

	 	2.	On and after the date hereof, all references to the “Agreement” shall be deemed to be references to the Agreement as amended by this Amendment No. 2, and the Agreement as
so amended shall continue to be in full force and effect and is hereby in all respects ratified and confirmed. 

 IN WITNESS WHEREOF, this
Amendment No. 2 has been signed on behalf of each of the parties hereto as of the date first above written. 
  

			
	FLO CORPORATION
		
	By:	 	 /s/

	Name:	 	
	Title:	 	
	
	UNISYS CORPORATION
		
	By:	 	 /s/

	Name:	 	
	Title:	 	

 AMENDMENT No. 3 
 This Amendment No. 3, dated as of March 24, 2008, is between Unisys Corporation, a Delaware corporation (“Seller”), and FLO Corporation, a Delaware Corporation (“Buyer”),
and it further amends that certain Asset Purchase Agreement dated as of October 5, 2007 (as amended by Amendment No. 1 thereto dated as of December 31, 2007 and by Amendment No. 2 thereto dated as of February 28, 2008, the
“Agreement”). Capitalized terms used herein without definition shall have the meanings given such terms in the Agreement. 
 For good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound, the parties hereto agree that the Agreement is hereby amended as follows: 
  

	 	1.	Section 2.5(a) of the Agreement is hereby amended to delete the figure “$8,780,000” and to replace it with the figure “$5,250,000”.

  

	 	2.	Exhibits B and D to the Agreement are deleted and replaced in their entirety by the forms of Exhibits B and D attached hereto. 

  

	 	3.	On and after the date hereof, all references to the “Agreement” shall be deemed to be references to the Agreement as amended by this Amendment No. 3, and the
Agreement as so amended shall continue to be in full force and effect and is hereby in all respects ratified and confirmed. 

 IN WITNESS
WHEREOF, this Amendment No. 3 has been signed on behalf of each of the parties hereto as of the date first above written. 
  

			
	FLO CORPORATION
		
	By:	 	 /s/

	Name:	 	
	Title:	 	
	
	UNISYS CORPORATION
		
	By:	 	 /s/

	Name:	 	
	Title:	 	

 AMENDMENT No. 4 
 This Amendment No. 4, dated as of April 2, 2008, is between Unisys Corporation, a Delaware corporation (“Seller”), and FLO Corporation, a Delaware Corporation (“Buyer”), and
it further amends that certain Asset Purchase Agreement dated as of October 5, 2007 (as amended by Amendment No. 1 thereto dated as of December 31, 2007, by Amendment No. 2 thereto dated as of February 28, 2008 and by
Amendment No. 3 thereto dated as of March 24, 2008, the “Agreement”). Capitalized terms used herein without definition shall have the meanings given such terms in the Agreement. 
 For good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound, the parties hereto
agree that the Agreement is hereby amended as follows: 
  

	 	1.	Article I “Definitions” of the Agreement is hereby amended to deleted the definition “Deposit” and to replace it with the following definition:

 “Deposits” shall mean (a) the $1,200,000 deposit remitted by Buyer to Seller on December 31, 2007 and
(b) the $1,000,000 deposit remitted by Buyer to Seller on April 2, 2008 (the “Second Deposit”). The Deposits shall be dealt with as set forth in Sections 2.5 and 2.6 of this Agreement. 
  

	 	2.	Section 2.5(b) of the Agreement is hereby amended to delete the word “Deposit” and to replace it with the word “Deposits”. 

  

	 	3.	The first sentence of Section 2.6(a) is amended to read in its entirety as follows: 

  

	 	(a)	Closing Date. The closing of the transactions contemplated by this Agreement (the “Closing”) shall take place at the offices of Unisys Corporation, Unisys Way, Blue Bell,
PA 19422 on or before April 15, 2008, or at such other location as may be mutually agreed upon by Buyer and Seller. 

  

	 	4.	Section 2.6(d) is amended to read in its entirety as follows: 

  

	 	(d)	In the event the Closing does not occur on or before April 15, 2008, Buyer shall forfeit and Seller shall be entitled to retain the Deposits. 

 5. Section 9.1(b) of the Agreement is amended to delete the words “March 11, 2008” and to replace them with the words “April 15,
2008”. 

 6. This Amendment No. 4 shall become effective upon Seller’s receipt of the Second Deposit. On
and after such effective date, all references to the “Agreement” shall be deemed to be references to the Agreement as amended by this Amendment No. 4, and the Agreement as so amended shall continue to be in full force and effect and
is hereby in all respects ratified and confirmed. 
 IN WITNESS WHEREOF, this Amendment No. 4 has been signed on behalf of each of the parties hereto as
of the date first above written. 
  

			
	FLO CORPORATION
		
	By:	 	 /s/ 

	Name:	 	
	Title:	 	
	
	UNISYS CORPORATION
		
	By:	 	 /s/

	Name:	 	
	Title:	 	

  

 7China Security & Surveillance Technology, Inc.: Exhibit 10.1 - Prepared
by TNT Filings Inc.

  

Exhibit 10.1

April 2, 2008

Transferor:

CHEN, AIQI

Transferee:

CHINA SAFETECH HOLDINGS LIMITED

Party C:

CHINA SECURITY & SURVEILLANCE TECHNOLOGY, INC.

  
	

Equity
Transfer Agreement 

of 

All Issued Shares 

of 

KIT GRANT LIMITED 

(English Translation) 

  

 

 

 

This Equity Transfer Agreement (the “Agreement”) is entered into by and among the following parties on April 2, 2008:

(1)

CHEN, AIQI whose address is Unit
B1, 9/F, Loyong Court Commercial Building, 212-220 Lockhart Road, Wanchai, Hong
Kong (the ID Card No. in Hong Kong is Z116415(6)) (hereinafter referred to as
“Transferor”);

(2)

CHINA SAFETECH HOLDINGS LIMITED, a
company incorporated in British Virgin Islands, whose address is F13, Press
Plaza, Shennan Avenue Special Zone, Futian District, Shenzhen (hereinafter
referred to as  “Transferee”);

(3)

CHINA SECURITY & SURVEILLANCE
TECHNOLOGY, INC., a company incorporated in Delaware, United States, whose
address is F13, Press Plaza, Shennan Avenue Special Zone, Futian District,
Shenzhen (hereinafter referred to as “Party C”);

The Transferor, the Transferee and Party C above shall be individually referred to as a “Party” and collectively referred to as the “Parties”.

WHEREAS

KIT GRANT LIMITED, a limited
liability company legally organized and validly existing under the Company
Ordinance of Hong Kong, whose information is listed as Exhibit I (hereinafter
referred to as “Kit Grant”), and whose all issued shares are beneficially
held by the Transferor.

WHEREAS

Kit Grant invests and acquires Guangdong
Stonesonic Digital Technique Co., Ltd., a wholly foreign owned company legally
organized and validly existing under the laws of People’s Republic of China,
whose information is listed as Exhibit III (hereinafter referred to as “Stonesonic”),
and whose all shares are beneficially held by Kit Grant.

WHEREAS

The Transferee desires to purchase from
the Transferor and the Transferor desires to transfer to the Transferee 100%
issued shares of Kit Grant. Upon completion of the transfer under this
Agreement, the Transferee shall indirectly and fully acquire 100% shares and
control power of Stonesonic.

NOW, THEREFORE, the Parties hereby agree as follows:

Article 1  Definitions

1.1

Unless otherwise defined in this
Agreement, the following terms shall have the meanings indicated as follow:

	
  
  “Company Ordinance”

	
  
  means Chapter 32 Company Ordinance of the laws of Hong Kong;

 

	
  
  “Shares for Transfer”

	
  
  means 10,000 common share of Kit Grant
  owned by the Transferor to be transferred from the Transferor to the
  Transferee under this Agreement, constituting 100% issued and outstanding
  stock of Kit Grant (for details please refer to Exhibit II - Part A);

	
   
	 
	
  
  “Share Transfer”

	
  
  means 100% issued shares of Kit Grant to be transferred from the Transferor to the Transferee under Article 2.1 hereof;

	
   
	 
	
  
  “Balance”

	
  
  shall have the meaning as provided in
  Article 3.2.1(2);

	
   
	 
	
  
  “Total Transfer Price”

	
  
  means total price paid to the Transferor by the Transferee under Article 3.1 hereof;

	
   
	 
	
  
  “Closing Date”

	
  
  April 2, 2008;

	
   
	 
	
  
  “Accounts of Kit Grant”

	
  
  means management and financial statements of
  Kit Grant as of February 29, 2008, the copies of which are attached as Exhibit A hereof;

	
   
	
   
	
  
  “Stonesonic Accounts”

	
  
  means management and financial statements of
  Stonesonic as of February 29, 2008 verified by PRC auditors, the copies of which are attached as Exhibit B hereof;

	
   
	 
	
  
  “Business Day and Working Hours”

	
  
  means the days when banks in Hong Kong normally provide general bank services (excluding Saturday, Sunday and other Hong Kong public holidays) and general working hours;

	
   
	
   
	
  
  “PRC”

	
  
  means the People’s Republic of China;

	
   
	 
	
  
  “Hong Kong”

	
  
  means the Hong Kong Special Administrative Region of PRC;

	
   
	 
	
  
  “HKD”

	
  
  means the legal currency of Hong Kong;

	
   
	
   
	
  
  “USD”

	
  
  means the legal currency of United States;

	
   
	 
	
  
  “RMB”

	
  
  means the legal currency of PRC.

2

1.2

In this Agreement:

(i)

Any rule or law involved herein shall include any and all amendments, supplements or reenactments thereof from time to time;

(ii)

Words and terms contained in Companies Ordinance shall be interpreted according to definitions stipulated in Companies Ordinance except as otherwise defined or stated in this Agreement, however, any amendment or change to Companies Ordinance shall be excluded which is not enforced before or on the date to execute this Agreement.

(iii)

Single word also includes plural meaning; word referred to any gender also includes the other gender and neuter, word referred to person also includes groups (legal person or non-legal person) and (under every circumstance), vice versa;

(iv)

The parties, descriptions, exhibits, appendices and terms and conditions mentioned herein shall be respectively referred to the parties, descriptions, exhibits, appendices and terms and conditions hereof; and

(v)

The headings and table of contents in this Agreement are provided for reference only and will not affect its construction or interpretation.

Article 2  Share Transfer

2.1

According to the provisions in this
Agreement, the Transferor, as the beneficial owner of all issued and outstanding
shares of Kit Grant (for more details please refer to Part A, Exhibit II), will
transfer such Shares for Transfer to the Transferee (for more details please
refer to Part B, Exhibit II). After such transfer, the Transferee will own 100%
issued and outstanding shares of Kit Grant.

2.2

Upon the completion of transaction
hereunder, Shares for Transfer shall be free and clear of any mortgage, lien or
property encumbrances of any form, and Shares for Transfer shall be transferred
with all rights attached or accumulated thereto, including all dividends,
profits, the investment in Stonesonic by Kit Grant and relevant benefits
accumulated and distributed from the completion date.
 

Article 3 Transfer Price

3.1

Transfer Price

The Transferor and the Transferee agree,
the Transferor shall transfer to the Transferee Shares for Transfer. In return,
the Transferee shall pay to the Transferor the Total Transfer Price of
RMB227,037,605, consisting of RMB 125,000,000 in cash and shares listed on the
New York Stock Exchange of Party C with the value of RMB 102,037,605.

3

3.2

Method of Payment

3.2.1

The Transferee shall pay the Total
Transfer Price to the Transferor as follows:

(1)

The Transferee has paid to the Transferor
RMB 75,000,000 before the Closing Date.  The Transferee shall pay the
remaining price of RMB 50,000,000 (“Balance”) under Article 5.2 hereof.

(2)

The Transferee (through its parent
company, Party C) shall issue restricted shares equal to RMB102,037,605 to the
Transferor or its designees within ninety days after the execution date of this
Agreement, and the share value shall be calculated on the average closing price
(USD 15.2175/share) of twenty trading days before the Closing Date, amounting to
953,918 shares to the Transferor, among which 381,568 shares, equal to
RMB40,815,127 shall be delivered to the Transferor or its designees within
ninety days after the execution of this Agreement.  If the shares are
issued to Yueshen Zhou, Demao Xie, Jinyuan Xie, Qinrong Zhang, Shanni Zhou, Xue
Lin or any of the directors or general manager of Stonesonic, the restriction
period of such shares shall be two years from and after the execution date of
this Agreement.  The Transferor shall pledge the remaining shares to the
Transferee as provided under Article 5.2 hereof.

3.2.2

The Transferee shall remit the Balance to
the bank accounts designated by the Transferor, the information of which will be
provided otherwise.

Article 4  Closing

4.1

The Share Transfer shall be completed on the Closing Date at the place stipulated by both parties in accordance with Exhibit V.

4.2

Terms and conditions to be performed hereof shall remain in force after the Closing Date.

4.3

From the Closing Date, debts and credits
and all risks of Kit Grant and Stonesonic shall be promptly borne by the
Transferee (except otherwise undertaken by the Transferor in Exhibit IV).

4.4

From the Closing Date, the Transferee
shall have the right to consolidate profits of Kit Grant and Stonesonic with the
Transferee group. At the meantime, the Transferee shall have the right to
appoint manager or financial person, or authorize to appoint existing personnel
of Kit Grant and Stonesonic to take charge of management and operation of Kit
Grant and Stonesonic as well as all files, materials, financial documents and so
on.  The Transferor shall not enjoy any shareholder right and/or interest
of Kit Grant and Stonesonic from the Closing Date because of such Share
Transfer, provided that all obligations relevant to the Share Transfer shall be
borne by the Transferor under law and this Agreement.

4

Article 5  Warrants, Representations and Covenants of the Transferor

5.1

In addition to the information disclosed in this Agreement, the Transferor shall warrant, represent and covenant to the Transferee under terms and conditions stipulated in Exhibit IV, which also constitute the base for the Transferee to accept the Shares for Transfer.

5.2

The Transferor covenants to the Transferee
that the profits after tax in 2007 audited by US Auditors shall reach RMB
25,000,000. If Kit Grant and Stonesonic reach profits after tax of
RMB25,000,000, the Transferee shall pay to the shareholder of Kit Grant and
Stonesonic or their designee RMB 50,000,000.  The Transferor also covenants
to the Transferee that the profits after tax in 2008 which are audited by US
Auditors shall reach RMB35,000,000.  If Kit Grant and Stonesonic reach
profits after tax of RMB35,000,000, the Transferee shall release 286,175 shares
pledged by the Transferor.  The Transferor further covenants to the
Transferee that the profits after tax in 2009 which are audited by US Auditors
shall reach RMB40,000,000.  If Kit Grant and Stonesonic reach profits after
tax of RMB40,000,000, the Transferee shall release additional 286,175 shares
pledged by the Transferor.

Article 6  Warrants, Representations and Covenants of the Transferee and Party C

6.1

The Transferee covenants to keep the
organization structure of Kit Grant and Stonesonic after the Share Transfer,
builds up its brand recognition, fully support business development of Kit Grant
and Stonesonic.  The Transferee shall also provide financial support as
required by business based on the real situation according to relevant laws and
regulations.

6.2

The Transferee undertakes that existing
employees of Kit Grant and Stonesonic shall remain employed given that they are
willing to stay and their stay will not impede development of companies after
the Share Transfer; arrangement of senior management and technical staff and the
operation rights and benefits of such persons shall be governed by separate
agreements to be entered after the Share Transfer. In addition, the Transferee
covenants that benefits of such persons shall not be lower than their previous
benefits.

6.3

The Transferee shall provide appropriate
operation funds to Kit Grant and Stonesonic in order to support the Transferor
to realize profits after tax for 2007, 2008 and 2009, dates and amounts of
providing such funds shall be otherwise stipulated.

6.4

Party C shall file required reports with the U.S. Securities and Exchange Commission (“SEC”) and issue shares to the Transferor under Article 3.2.1 (2) of this Agreement.

5

Article 7 Governing Law

This Agreement shall be governed and construed by rules and laws of Hong Kong.

Article 8  Settlement of Disputes and Agent of  Receiving Legal Procedure Documents

8.1

Any dispute arising out of or relating to this Agreement, shall be settled by friendly negotiation and consultation. If no agreement is reached through friendly negotiation and consultation, such dispute shall be finally arbitrated by Hong Kong International Arbitration Center (HKIAC) in accordance with HKIAC Arbitration Rules then in effect. Unless otherwise provided in the arbitration rules of HKIAC then in effect, the arbitration shall be the sole and exclusive method and procedure of any dispute arising out of or relating to this Agreement.

8.2

The Parties to this Agreement agree that unless not permitted by the applicable laws and rules, the arbitration terms hereto shall be interpreted as and constitute the currently effective arbitration agreement in writing with legal effect, and shall be granted with such effect.  The Parties to this Agreement hereby expressly waive any right of possibly requested local administrative, judicial or alternative dispute settlement methods, as the conditions of any settlement procedure which arising out of this Agreement.

8.3

The Parties to this Agreement expressly represent that the award made according to Article 8 hereof shall be final award binding upon the Parties.  In addition, the Parties to this Agreement hereby waive the right to appeal the award made according to Article 8 hereof.  The Article 8 shall constitute the most comprehensive exclusive agreement to the extent permitted by the applicable laws.

8.4

(1)

The Transferee irrevocably entrusts BOYU ENTERPRISE CONSULTING CO., LIMITED, whose address is Unit B1, 9/F, Loyong Court Commercial Building, 212-220 Lockhart Road, Wanchai, Hong Kong (“Agent”), to receive legal procedure documents and to be on behalf of the Transferee to receive claims arising out of or relevant to the Agreement or the legal procedures in Hong Kong (including but not limited to, claims for reimbursement, summons, arbitration application and arbitration award) (“Legal Procedure Documents”).

(2)

Transferee undertakes to consecutively entrust the Agent as the agent of receiving Legal Procedure Documents, in order to on behalf of the Transferee receive Legal Procedure Documents in Hong Kong and immediately notify the Transferor in writing if the Agent or its address is modified.

(3)

The Transferee agrees and confirms that Legal Procedure Documents which have been sent to its Agent shall be deemed as having been sent to any Transferee.

6

Article 9  Liabilities for Breach of Contract

9.1

If any statement or warrants made by any Party in this Agreement is untrue or false, it shall be deemed as breach of contract by the Party.

9.2

Any Party to this Agreement changes minds on purpose and causes the failure of the Share Transfer, it shall be deemed as breach of contract by the Party.

9.3

The breaching party shall, in addition to performance of other obligations under this Agreement, compensate the observant party all losses, damages, expenses suffered by the observant party due to breach of contract caused by breaching party.

9.4

If the Transferor changes minds on purpose and cause that the shares can not be transferred to the Transferee or the shares is forfeited after transfer, the Transferee shall have the right to terminate the Agreement, and The Transferor shall return the share transfer price or the shares and assume liabilities under Article 9.3 of this Agreement.

Article 10  Force Majeure and Change of Circumstances

10.1  

If any Party to this Agreement can not perform any part or all of the terms hereto directly or indirectly because of events such as fire, flood, earthquake or other unforeseeable, unavoidable and/or uncontrollable events, the Party shall be exempted from liabilities to the extent as affected by force majeure.

10.2  

If any Party or Parties lose(s) its/their interests under this Agreement because of legislation, or administration order or specific administration act of government, any Party shall have the right to terminate this Agreement and to restore to the conditions before the execution of this Agreement.

10.3  

Any Party affected by force majeure shall deliver the other Party the written notice regarding the occurrence of force majeure within 12 days after the occurrence of the force majeure event.

10.4  

After the occurrence of force majeure event, the Parties to this Agreement shall immediately consultant and decide whether to delay the performance of this Agreement to a day in the future agreed by the Parties or to terminate this Agreement.

10.5  

If any Party delays or is unable to perform all or part of the terms of this Agreement for more than 30 days as a result of force majeure, the other Party shall have the right to rescind this Agreement, and the Parties shall take all necessary actions to restore the rights and obligations of all parties to their respective original positions.

7

Article 11  Miscellaneous

11.1

This Agreement and its involved relevant documents constitute the full understanding of the Parties regarding the Share Transfer, and replace any previous intention, expression and understanding of the Parties.

11.2

If any term of this Agreement is regarded as illegal, invalid or unenforceable at any time, the validity, effectiveness and enforceability of other terms of this Agreement shall not be affected or impaired in any way and shall remain the full validity.

11.3

This Agreement shall bind the Parties and their respective successors and assignees. The interests of this Agreement shall be assigned to the Parties hereto and their respective successors and assignees. Without the permission of the Parties in writing, any Party shall not amend, modify or revise this Agreement.

11.4

This Agreement shall be effective upon signature.

11.5

Without the permission of the Parties in writing (the relevant permission shall not be withheld without reasonable reasons), the Parties hereto shall not transfer any rights or obligations under this Agreement.

11.6

The Parties agree to bear all the cost and expense in respect of the negotiation, preparation, execution and performance of the Agreement and the taxes arising from the transfer of Shares for Transfer. The stamp tax and all other tax and expenses arising out of the transfer of Shares for Transfer (including but not limited to, arising out of in China or in any other areas), shall be borne and paid by the Transferor.

11.7

Unless provided and required by laws, regulations, order or judgments by the competent authorities or courts (including, but not limited to, applicable regulation of security exchanges), without the previous permission of the other Party in writing (the relevant permission shall not be withheld without reasonable reasons), any Party shall not make or distribute any related press statement or announcement.

11.8

Without the prior permission of the other Party in writing, any Party shall not disclose the Agreement or any content or material in connection with any transaction of this Agreement, excluding the following disclosure:

(1)

the disclosure is made according to the provisions of applicable laws, regulations and rules (including, but not limited to,  regulations of security exchanges) or requirements of relevant government authorities or supervision authorities, or court orders;

(2)

the disclosure is made to Kit Grant,
Stonesonic, or its higher competent authorities or approval and examination authorities, or to contacted bank or professional consultant of the disclosing Party;

8

(3)

the disclosure is made by the Transferor to the company of its company group or senior management thereof.

11.9

If any term of this Agreement is or becomes illegal, invalid or unenforceable at any time in any respect, other terms of this Agreement shall not be affected or impaired.

11.10

Any notice required to be sent under this Agreement shall be sent in writing. The notice shall be delivered to the following address or fax number or other address or fax number that the recipient designates according to this Agreement:

(1)

Transferor:

CHEN, AIQI

                
  Address:

Unit B1,9/F.,Loyong Court Commercial Building ,212-220 Lockhart Road,Wanchai,Hong Kong

     
          Telephone:

(852) 21161199

         
                   Fax:

(852) 21161232

(2)

Transferee:

CHINA SAFETECH HOLDINGS LIMITED

    Address:

Floor 13, Press Plaza, Shennan Avenue Special Zone, Futian District, Shenzhen

 Telephone:

(86-755) 83510888

              Fax:

(86-755) 83510815

(3)

      Party C:

CHINA SECURITY & SURVEILLANCE TECHNOLOGY, INC.

    Address:

Floor 13, Press Plaza, Shennan Avenue Special Zone, Futian District, Shenzhen

Telephone:

(86-755) 83510888

                             Fax:

(86-755) 83510815

11.11

Any notice can be sent by mail with postage pre-paid, personal delivery, courier with good reputation or by facsimile, and shall be deemed as delivered at the following time:

(1)

two days (seven days if sending by airmail with postage prepaid) after post (the date of postmark is the posting date) for those sent by mail with postage prepaid;

(2)

the next business day for those sent by fax;

(3)

the receiving time for those sent by courier or personal delivery.

Any notice to the Transferee, when properly delivered to any Transferee, shall be regarded as delivered to the other Transferee.

11.12

This Agreement shall be written in Chinese in three copies with each Party holding one copy.

9

IN WITNESS WHEREOF, this Agreement has been executed by the Parties on the date first above written and the Parties confirm that the Parties have carefully reviewed and fully understand all the provisions of the Agreement.

	The Transferor
	CHEN, AIQI
	Signature: 
     /s/ CHEN, AIQI                      
    
	Place of Signature: 
    Shenzhen
	 
	 
	Witness:  PENG
    Yaoguang
	 
	The Transferee
	 
	TU Guoshen
    for and on behalf of
	CHINA SAFETECH
    HOLDINGS LIMITED
	Signature:  /s/
    Tu Guoshen                                  
    
	Place of Signature:  
    Shenzhen
	 
	 
	Witness: LUO Ganqi
	 
	 
	Party C
	To execute, chop
    and deliver
	TU Guoshen
    for and on behalf of
	CHINA SECURITY &
    SURVEILLANCE TECHNOLOGY, INC.
	 
	Place of Signature: 
    Shenzhen
	 
	 
	Witness:  LUO
    Ganqi

10

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