Document:

f8k1209ex10i_convenant.htm

    Exhibit 10.1

     

    
      TERMINATION
AGREEMENT

      

      This
TERMINATION AGREEMENT (this "Agreement") is entered into as of December 24, 2009
(the “Effective Date”), by and between GARY SIDHU ("Sidhu") and EVEREST
RESOURCES CORP., a Nevada
corporation ("Everest" and collectively with Sidhu, the “Parties”).

      

      WHEREAS,
Sidhu has executed a declaration of trust, dated July 8, 2007, wherein he has
agreed to hold for Everest and deliver title to Everest, on Everest’s demand, a
certain mineral claim upon 471 contiguous acres of Crown mineral lands located
in British Columbia, Canada recorded in Sidhu’s name and granted by the province
of British Columbia in June 2006 (the “Mineral Right”) (the “Declaration of
Trust”); and

      

      WHEREAS,
the Parties now wish to terminate the Declaration of Trust executed by Sidhu for
the benefit of Everest.

      

      NOW,
THEREFORE, in consideration of the premises, and the mutual covenants and
agreements contained herein, the Parties do hereby agree as
follows:

      

      The
Parties hereby terminate the Declaration of Trust.  Upon such
termination, Everest shall waive any and all rights and interests granted to it
under the Declaration of Trust, and Sidhu shall own all right, title and
beneficial interest in the Mineral Right and solely be responsible for all
claims, costs, expenses and liabilities relating to the Mineral Right and the
Declaration of Trust and shall indemnify and hold harmless Everest from all
claims, costs, expenses and liabilities relating to the Mineral Right and/or the
Declaration of Trust.

      

      

      

      /s/ Gary
Sidhu                                                 

      Gary
Sidhu

      

      

      EVEREST
RESOURCES CORP.

      

      By: /s/ Mohan
Singh                                
      

      Mohan
Singh

      President
and Principal Executive Officerf8k1209ex10ii_convenant.htm

    Exhibit
10.2

     

    Share Cancellation and Loan
Agreement

     

    SHARE
CANCELLATION AND LOAN AGREEMENT

     

                THIS
SHARE CANCELLATION AND LOAN AGREEMENT (“Agreement”), dated as of December 24,
2009, by and between Covenant Group Holdings Inc. ("CGH") and Gary Sidhu
("Sidhu") (each a “Party” and together the “Parties”).

     

                The
Parties acknowledge that the execution and effectiveness of this Agreement is a
closing condition of the Share Exchange Agreement by and among CGH and Everest
Resources Corp. (ERC”) and the Shareholders of CGH (the “Share Exchange
Agreement”).

     

                Sidhu  represents
and warrants that he is the legal and beneficial owner and otherwise owns all
right, title and interest without encumbrances or liens to 5 million shares of
ERC common stock, par value $.00001 (the “Sidhu Shares”).  In
connection with the Share Exchange Agreement, Sidhu hereby agrees to cancel all
of the Sidhu Shares in exchange for the payment of $290,000 by CGH to
Sidhu.

     

                Upon
the effective date of this Agreement, CGH shall pay Sidhu immediately $100,000
by wire transfer and deliver a note in the principal amount of $190,000 payable
to Sidhu  pursuant to the loan agreement set  forth in this
Agreement (the “Note”).  For this consideration, Sidhu shall cancel
4.5 million Sidhu Shares by marking cancellation on his share certificate for
such amount of shares and delivering such certificate to CGH.  Upon
full payment of the principal amount of the Note by CGH to Sidhu, Sidhu shall
cancel his remaining 500,000 shares by marking cancellation on such share
certificate for such amount and delivering such certificate to CGH.

     

                 Pursuant
to this Agreement, Sidhu hereby agrees to loan CGH the principal amount of
$190,000 payable on or before the 90th calendar day following the Effective Date
of this Agreement and evidenced by the Note attached hereto as Annex 1 to this
Agreement.  The Parties agree that Sidhu may keep in Sidhu’s record
name 500,000 Sidhu Shares as collateral, but must cancel such Shares as
referenced above upon full payment by CGH of the principal amount of the Note
pursuant to the terms of this Agreement.

     

                This
Agreement shall be governed under Pennsylvania law without regard to its choice
of law rules and may be executed in counterparts.

     

    [signature
page follows]

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

                IN
WITNESS WHEREOF, the Parties hereto have duly executed and delivered this
Agreement as of the date first above written (the “Effective
Date”).

     

     
 

     

    COVENANT
GROUP HOLDINGS INC.

    
 

    By /s/ Kenneth
Wong

     

    Kenneth
Wong, its President

     

     

    

     

    GARY
SIDHU

     

     

    By /s/ Gary
Sidhu

     

    Gary
Sidhuf8k1209ex10iii_convenant.htm

    Exhibit
10.3

    

    

    TARGET
COMPANY ACQUISITION AND REORGANIZATION AGREEMENT

    

    This
agreement (the "Agreement") is executed and effective as of June 24, 2009 (the
"Effective Date") by and among the following parties:

    

    Covenant
Group Holdings Inc., a United States ("U.S.") corporation incorporated in the
state of Delaware ("Covenant"). Covenant's legal representatives are Frederic W.
Rittereiser, Chairman, and Kenneth Wong, President, both of whom are U.S.
citizens; and

    

    ChongQing
HongSheng Information Sysway Industry Co, Ltd ( changed the name
to ChongQing Sysway Information Technology Co., Ltd in year 2007) a company
incorporated, in good standing and doing business in the Peoples Republic of
China ("China") ("Target Company" or "Chongqing"). The address of the Target
Company is 4F, H Building, 67th, No.3 Keyuan Road, Hi-tech Industrial
Development Zone, ChongQing, postcode 400041, and its legal representative is
Song Xiaozhong, Chairman,
who is a Chinese citizen; and

    

    each
equity owner of the Target Company ("Target Company Shareholder[s]") as
identified hereunder.

    

    The
identity and percentage of equity holdings held by each Target Company
Shareholder is as follows:

    

    
      	
              Shareholder

            	
              Amount
      of investment (registered capital)

            	
              Percentage

            
	
              Song
      Xiaozhong

            	
              RMB          4,329,700

            	
              43.297%

            
	
              Shi
      Quansheng

            	
              RMB          3,194,500

            	
              31.945%

            
	
              Song
      Guangwei

            	
              RMB          2,391,800

            	
              23.918%

            
	
              Yuan
      Rui

            	
              RMB              84,000

            	
                0.840%

            
	
              Total

            	
              RMB        10,000,000

            	
              100.00
      %

            

    

    

    The
parties hereby agree as follows:

    

    Section
1. Strategic
Company Structure.
Covenant is a corporation formed to acquire and hold a majority equity
ownership stake in Target Company and other target companies that are Chinese
operating companies. To effectuate this arrangement, the parties hereto agree to
organize pursuant to a strategic company structure which may entail, among other
things, having Covenant, a public shell company ("Public Shell"), a subsidiary
of the Public Shell ("Public Shell Subsidiary") and/or the Target Company enter
into a share exchange, merger, reverse merger, recapitalization or some other
similar transaction whereby Public Shell and/or Public Shell Subsidiary shall
acquire all of Covenant’s rights and obligations under this Agreement (including
the Target Company’s common stock as provided hereunder). Thereafter, the Public
Shell may engage in a private placement of its common stock, which private
placement would also grant registration rights to the investors (the "Private
Placement"). The above structure is hereinafter referred to as the "Strategic
Structure."

     

    
      
        
        

      

      
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7

        
          

        

      

      
        
        

      

    

     

    
 

    Section
2. Public
Shell Private Placement (Strategic Structure). The Strategic Structure
shall be pursued, and the Public Shell shall engage in a capital raise targeted
for the fourth quarter of 2009, but no later than the first quarter of 2010, for
purposes of raising funds to inject into Target Company a minimum of $2.5
Million ($2,500,000) for operational and strategic growth purposes as its
operating subsidiary.

    

    Section
3. Covenant
Acquisition of Majority Interest in Target Company. When the Strategic Structure
is pursued, the consideration for Covenant's acquisition of one-hundred percent
(100%) of Target Company's common stock is the promise of Covenant, on behalf of
the Public Shell, to provide a cash injection and common stock of Public Shell
(the "Public Shell Stock Consideration") as detailed in Section 4 below. As
described above, under the Strategic Structure, Public Shell or Public Shell
Subsidiary shall ultimately own and hold the Target Company's common
stock.

    

    Section
4. Details
of Consideration to Target Company and Target Company Shareholders. Covenant will assure a cash
injection pursuant to Section 2 above. Upon occurrence of the Strategic
Structure, Target Company Shareholder[s] shall receive pro-rata portions of
Public Shell common stock, which, in the aggregate, shall be one million four
hundred thousand (1,400,000) shares of Public Shell common stock.

    

    These
common shares will be restricted and locked-up for a period of one (1) year
starting from the period when Covenant enters and qualifies for a NASDAQ Capital
Market Listing. These shares will also be subject to underwriter's discretion
upon future capital raises.

    

    Covenant
authorizes Target Company to distribute to its shareholders and management its
30% dividend amount for 2008 and to further allow Target Company to distribute a
thirty percent (30%) dividend against their 2009 profits at year
end.

    

    Section
5. Reliance
on Target Company and Target Company's Data. Target Company and Target
Company Shareholder[s] shall provide audited financials to Covenant for periods
as reasonably requested by Covenant, and Target Company shall assure the
accuracy of all financial performance data and material disclosure items of
Target Company as reported for the period ended June 30, 2009, which includes
accounts payable and liabilities, accounts receivable, assets, operations,
associated debts, intangible assets, inventory, and any important
contracts.

    

    Section
6. Declarations
and Assurances by Covenant.

    

    
      	
              1.  

            	
              Covenant
      is a duly registered Delaware corporation. It has exclusive rights to its
      assets and is empowered to duly execute and be party to this
      Agreement.

            

    

    

    
      	
              2.  

            	
              Except
      as hereinafter provided, Covenant agrees and acknowledges that the Target
      Company may continue to independently operate itself and that Covenant
      will not participate in the day-to-day business operations of the Target
      Company or interfere with the management of the Target Company.
      Notwithstanding the foregoing, if Target Company's management acts in any
      manner that is materially inconsistent with the declarations and
      assurances as presented in the Chairman's Annual Report to Covenant’s
      Board as provided in Section 8 below, Covenant has the right to effect
      changes in Target Company's
management.

            

    

     

     

    
      
        
        

      

      
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of 7

        
          

        

      

      
        
        

      

    

    
 

    
      	
              3.  

            	
              Covenant,
      at its expense, shall retain an independent international accountant to
      conduct a quarterly and annual audit of Target Company in anticipation of
      the Strategic Structure and eventual listing of Covenant’s common stock on
      a U.S. national exchange.

            

    

    

    
      	
              4.  

            	
              Covenant
      or its shareholders shall appoint the initial Covenant Board of Directors,
      which is initially anticipated to be a Board of five persons, three of
      whom will meet qualifications of independence under NASDAQ listing
      standard rules.

            

    

    

    Section
7. Declarations
and Assurances of Target Company and Target Company Shareholder[s].

    

    
      	
              1.  

            	
              Target
      Company is established under the legal structure of China and shall remain
      so following occurrence of the Strategic Structure. Target Company has
      exclusive rights to its assets and no material liabilities as otherwise
      disclosed to Covenant and is empowered to duly execute and be a party to
      this Agreement.

            

    

    

    
      	
              2.  

            	
              Target
      Company shall use its best efforts to assist Covenant in performance of
      quarterly and annual financial reports along with issuance of 10-Q and
      10-K SEC reports filed with the
SEC.

            

    

    

    
      	
              3.  

            	
              Target
      Company must standardize its financial operations, avoid any hidden cash
      or assets, and not engage in any fraudulent
  activities.

            

    

    

    
      	
              4.  

            	
              Target
      Company shall not issue additional common stock or other securities
      without the express written consent of Covenant. Target Company agrees and
      acknowledges that Covenant is required to own at least a majority of
      Target Company's common stock so that Target Company's financial reports
      may be consolidated with Covenant.

            

    

    

    
      	
              5.  

            	
              Any
      material news relating to the Target Company must be reported to Covenant
      following the Effective Date.

            

    

    

    
      	
              6.  

            	
              Target
      Company shall not provide any loans or any vouchers to third
      parties.

            

    

    

    
      	
              7.  

            	
              Target
      Company should avoid any related transactions with itself, including, but
      not restricted to, such transactions with: (1) shareholders; (2)
      management; and/or (3) any enterprises that are owned by a direct relative
      of the shareholders or management. If related enterprises exist, the
      Target Company shall assure no liabilities for such enterprise or any
      other debt or liability related to any of its shareholders, direct
      relatives, CEOs, or any of its executives in top
    management.

            

    

    

    
      	
              8.  

            	
              The
      board minutes of Target Company shall be accurate and comprehensive. The
      financial statements of Target Company should be represented in
      appropriate form, including assets and liabilities of the company and
      sales and revenues from business operations. Moreover, the financial
      statements shall be prepared in accordance with U.S. GAAP
      standards.

            

    

     

     

    
      
        
        

      

      
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              9.  

            	
              Target
      Company shall not have any undisclosed guarantees to any individual, group
      or company.

            

    

    

    
      	
              10.  

            	
              All
      of the information of Target Company should be provided to Covenant,
      including bank accounts, company's address, telephone numbers,
      etc.

            

    

    

    
      	
              11.  

            	
              Target
      Company should keep good records of all legal documents for managing the
      business.

            

    

    

    
      	
              12.  

            	
              Target
      Company must avoid any activities that are against the law, statutes, or
      regulations of the legal systems of the U.S. or China, as
      applicable.

            

    

    

    
      	
              13.  

            	
              Target
      Company may not file a petition for bankruptcy without the express written
      consent of Covenant.

            

    

    

    
      	
              14.  

            	
              Any
      material contract signed by Target Company should be disclosed to
      Covenant.

            

    

    

    
      	
              15.  

            	
              The
      assets and inventory of Target Company shall be kept in good operation and
      no sales of assets should occur, unless in the ordinary course of
      business, without the express written consent of Covenant. Additionally,
      Target Company shall not engage in any exclusivity agreements with third
      parties without the express written consent of
  Covenant.

            

    

    

    
      	
              16.  

            	
              Target
      Company should only operate under its current lines of business as of the
      Effective Date, and shall not open new business lines without the written
      consent of Covenant. Target Company shall protect all patents, trade
      marks, copyrights, or business secrets of Target Company from infringement
      by third parties.

            

    

    

    
      	
              17.  

            	
              Target
      Company and Target Company Shareholder[s] agree to comply with all
      reasonable and customary requests by any investment bank that assists
      Covenant with respect to the Strategic Structure or other fundraising
      activities, including, but not limited to, lock-ups of the Target Company
      Shareholder[s]' Covenant common stock
shares.

            

    

    

    Section
8. Consequence
of Covenant Reliance on Information. Target Company and Target
Company Shareholder[s] hereby indemnify and hold harmless Covenant for any
material misstatements or omissions relating to financial and business reports
that Covenant reasonably relies upon that are produced by Target Company and/or
Target Company Shareholder[s].

    

    Section
9. Confidentiality. The parties agree to the
confidentiality of the matters relating to this Agreement. If the Agreement
expires, the parties agree to return the relevant documentation, including the
financial, technical and commercial information provided, to the issuing party,
and promise to not disclose and utilize such confidential information. Nothing
precludes a party from providing information to a government organization upon
request of such organization or as otherwise required by law.

    

    Section
10. Material
Changes in Target Company's Business. If before the occurrence of
the Strategic Structure, the Target Company's business has experienced a
material adverse change that cannot be promptly corrected before the filing of
the registration statement, Covenant, at its 

     

    
      
        
        

      

      
        Page 4
of  7

        
          

        

      

      
        
        

      

    

     

    sole
discretion, may terminate this Agreement with respect to the Target Company and
Target Company's Shareholder[s]. Thereafter, the mutual return of shares will be
identical to the procedures set forth in Section 5 above.

     

    Section
11. Documents
to be Provided by Target Company and Target Company Shareholder[s] (translated
into English).

    

    
      	
              1.  

            	
              The
      original or certified copies of the charter documents of Target Company
      and all corporate records, minute books, documents and instruments of
      Target Company, the corporate seal and all books and accounts of Target
      Company.

            

    

     

    
      	
              2.  

            	
              All
      reasonable consents or approvals required to be obtained by Target Company
      for the purposes of implementing this
Agreement.

            

    

     

    
      	
              3.  

            	
              All
      other approval documents or evidences of ownership transfer of Target
      Company's equity ownership to
Covenant.

            

    

     

    
      	
              4.  

            	
              Such
      other documents as Covenant may reasonably require to give effect to the
      terms and intention of this
Agreement.

            

    

    

    Section
12. Documents
to be Provided by Covenant.

    

    
      	
              1.  

            	
              Share
      certificates representing the Covenant Share Consideration, duly
      registered in the names of the Target Company Shareholder[s] and pursuant
      to the terms of this Agreement.

            

    

     

    
      	
              2.  

            	
              All
      reasonable consents or approvals required to be obtained by Covenant for
      the purposes of implementing this
Agreement.

            

    

     

    
      	
              3.  

            	
              Documents
      relating to the Strategic Structure and preparation of any registration
      statement so required.

            

    

     

    
      	
              4.  

            	
              Such other documents as Target Company
      may reasonably require to give effect to the terms and intention of this
      Agreement.

            

    

    

    Section
13. Notices. Message delivery method: any
request by either party to deliver the message to the designated receiver and
location are deemed adequate for the completion of delivery. Also, the delivery mail is
deemed to be received within four (4) business days after being sent. Electronic transmissions
are deemed received the same day they are sent.

    

    Covenant:

    

    Message
Address: Buchanan Ingersoll & Rooney PC  50 S. 16th
Street - Suite 3200, Philadelphia, PA 19102 Attn: William Uchimoto c/o Covenant
Group Holdings Inc.

    Receiver
: Fredric Rittereiser, Chairman

    Telephone
: 732-232-6114

     

    
      
        
        

      

      
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    Fax :
732-505-9300

    

    Receiver
: Kenneth Wong, President

    Telephone
: 215-519-4012

    Fax :
732-505-9300

    

    CHONGQING
:

    

    Message
Address : 4F,H Building, 67th, No.3 Keyuan Road, Hi-tech Industrial Development
Zone, ChongQing, postcode 400041

    Receiver
: Song Xiao Zhong

    Telephone
: 86-23-89080888

    Fax:
86-23-68604745

    

    Target
Company Shareholder[s] agree to use Target Company's message address as each
Shareholder's message addresses.

    

    Alternative
address: A party must inform the other parties for changes of
address.  E-mail may not be used as the message address.

    

    Section
16. Miscellaneous.

    

    
      	
              a)  

            	
              Entire
      Agreement. This Agreement represents the entire agreement of the
      parties with respect to the subject matter hereof and may not be changed
      or terminated, except in a writing signed by all
      parties.

            

    

     

    
      	
              b)  

            	
              Waivers.
      No waiver by any party of any breach of any term of this Agreement shall
      be construed as a waiver of any subsequent breach of that term or any
      other term of the same or of a different
  nature.

            

    

     

    
      	
              c)  

            	
              Binding
      Nature. This Agreement and the rights, powers, and duties set forth
      herein shall bind and inure to the benefit of the heirs, executors,
      administrators, legal representatives, successors, and assigns of the
      parties hereto.

            

    

     

    
      	
              d)  

            	
              Counterparts.
      This Agreement may be executed in one or more counterparts (facsimile
      copies are deemed to be originals), each of which shall be an original and
      all of which taken together shall constitute one and the same
      instrument.

            

    

     

    
      	
              e)  

            	
              Governing
      Law. This Agreement shall be deemed to have been made under, and
      shall be governed by, and construed in accordance with, the internal laws
      of the Commonwealth of Pennsylvania (excluding the law thereof which
      requires the application of or reference to the law of any other
      jurisdiction).

            

    

     

    
      	
              f)  

            	
              Arbitration.
      The parties consent and submit to arbitration before the American
      Arbitration Association ("AAA") in connection with the adjudication of any
      controversy arising in connection with this Agreement or the enforcement
      hereof, which may be asserted. The parties agree that any such action
      shall be submitted to arbitration in accordance with the rules and
      procedures of the AAA. The venue for any such arbitration shall be
      

            

    

    

     

    
      
        
        

      

      
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                Philadelphia,
      Pennsylvania, and the parties further agree to abide by and perform any
      award(s) rendered pursuant to this and further agree that a judgment and
      any interest due thereon may be entered upon such award(s) and, for these
      purposes, the undersigned parties hereby voluntarily consent to submit to
      the jurisdiction of any court of competent jurisdiction which may properly
      enter such judgment. The filing of a statement of claim by the party
      seeking relief hereunder may commence any such action in
      arbitration.

              

      

      

    

     

    
      
        	
                COVENANT
      GROUP HOLDINGS INC.

              
	 
      
	
                
                  /s/
      Fredric W. Rittereiser

                

              
	
                Fredric
      W. Rittereiser, Chairman

              
	 
      
	
                
                  /s/
      Kenneth Wong

                

              
	
                Kenneth
      Wong, President

              
	 
      
	 
      
	 
      
	
                CHONGQING
      SYSWAY INFORMATION TECHNOLOGY CO., LTD

              
	 
      
	
                By:  _/s/ Song
      Xiaozhong_____________________

              
	
                Name:
      Song Xiaozhong

              
	
                Title:  Chairman

              

      

    

    

    

    TARGET
COMPANY SHAREHOLDERS:

     

    
      
        	
                A:

              	
                /s/Shi
      Quansheng                  

              	
                B:

              	
                /s/ Song Xiaozhong

              
	 
      	
                Shi
      Quansheng

              	 
      	
                Song
      Xiaozhong

              
	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      
	
                C:

              	
                /s/ Song Guangwei

              	
                D:

              	
                /s/ Yuan Rui

              
	 
      	
                Song
      Guangwei                                                      

              	 
      	
                Yuan
      Rui

              

      

    

    
 

    
Page 7 of
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