Document:

EMPLOYMENT
AGREEMENT

    

    THIS AGREEMENT made as of the
17th day of November, 2008 (the "effective date").

    

    BETWEEN:

    

    Next1
Interactive, Inc.

    

    (the
"Company")

    

    

    - and
-

    

    Teresa
McWilliams

    

    (the
"Executive")

    

    WHEREAS the Company is engaged
in the ownership and management of travel and media related services (the "Business"); and

    

    WHEREAS the Company desires to
employ the Executive and the Executive desires to accept such employment in the
Business, subject to the terms, conditions and covenants herein provided;
and

    

    WHEREAS both parties have
agreed to execute, deliver and perform this Agreement;

    

    NOW THEREFORE in consideration
of the mutual covenants herein contained and other good and valuable
consideration, the Company and the Executive agree as follows:

    

    POSITION

    

    1. The
Company hereby employs the Executive as, and the Executive agrees to be employed
as, the Chief Financial Officer of the Company on the terms and conditions
herein contained.  The Executive shall report to the Chief Executive
Officer of the Company.

    

    2. The
Executive shall have such duties and responsibilities as the Executive and the
Company’s CEO shall agree upon from time to time.  Initially, such
duties and responsibilities will include those set forth on Exhibit A
hereto.

    

    
      	
               
      

            	
              3.

            	
              The
      Executive shall work out of office in the Weston Florida.  The
      Company agrees that the Executive will not be asked to relocate his
      principal place of employment from time to time anywhere in Canada and the
      United States, unless mutually agreed to by the parties and provided
      always that any and all reasonable relocation costs shall be borne by the
      Company.

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        2

      

       

    

    
      	
               
      

            	
              4.

            	
              The
      Executive will agree to prepare a budget for the Company, develop
      reporting systems, control accounting functions, complete financial
      statements, aid the corporation with audits, SEC reporting and overall aid
      the corporation in achieving its goals of operating in an efficient and
      fiscally responsible manner.

            

    

    

    REMUNERATION

    

    5.
(a)        The Executive shall receive a
minimum base salary from the Company of no less than US$100,000 per year
(US$8,333 per month) comprising of a cash payment. The executive will receive a
review after 90 days and will be adjusted to an annual salary of $140,000 (based
on acceptable review and performance during the 90 day review period). After the
90 day review the Executives pay (the "Salary"), will be payable in
accordance with the Company's payroll practices in force from time to time shall
be inclusive of all applicable income, employment insurance and other taxes and
charges that are required by law to be withheld by the Company or the
Executive.

     

    
      	
            	
              (b) 

            	
              Except
      as otherwise provided herein, the Salary shall be pro-rated for any
      partial
      year.

            

    

    

    
      	
            	
              (c)

            	
                    
      The company will agree to enter into an option plan with the executive for
      Stock options to be set under similar terms and conditions as those of
      other senior management as soon as the stock option plan for the Parent
      company is approved by the
Board.

            

    

    

    6. Other Bonuses. The Company
will agree to include the Executive in any cash bonuses (Other Bonuses) that may be set
from time to time by the Board of Directors as part of a Senior Management
Incentive package. Such Other Bonuses are at the discretion of the Board of
Directors and if set, will include the Key Senior Management comprising of the
CEO, COO, CFO and CMO.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        3

      

    

     

    BENEFITS AND
EXPENSES

    

    7.          The
Executive shall be entitled to participate in any health, life and medical
benefit plan made available by the Company generally to its executives, as
amended from time to time.  The Company shall pay all necessary and
reasonable business expenses as approved by the Company’s CEO which approval
shall not be unreasonably withheld, and which are actually and properly incurred
by the Executive in furtherance of or in connection with the Business, including
without limitation, all business related travel and parking expenses, public
relations expenses and all business related entertainment expenses (whether
incurred at the Executive's residence, while traveling or
otherwise).  If any such expenses are paid in the first instance by
the Executive, the Company shall reimburse him therefor, subject to the receipt
by the Company of statements and vouchers in a form reasonably satisfactory to
the Company.

    

    

    VACATION

    

    8.          The
Executive shall be entitled to four weeks paid vacation in each year of the Term
of the Agreement.  In the event of termination of this Agreement and
the Executive's employment, the Executive shall be entitled to payment for any
vacation time accrued up to the date of termination but unused.

    

    TERM

    9.                      (a)           The
initial term of this Agreement (the "Initial Term"), and the
Executive's employment hereunder, shall be for a period of two years commencing
as of November 16th, 2008, unless sooner terminated in accordance with the
provisions of section 10; provided that upon the expiration of the Initial Term,
this Agreement shall be automatically renewed for successive periods of one year
each (each a “Renewal Term”), unless at least 90 days prior to the expiration of
the Initial Term or any Renewal Term, as the case may be, either the Executive
or the Company gives written notice to the other of its intention to terminate
this Agreement upon the expiration of the Initial Term or the Renewal Term, as
the case may be.  For the purposes of this Agreement, if such notice
is not given at least 90 days prior to the expiration of the Initial Term or
Renewal Term, as the case may be, the employment of the Executive hereunder
shall be deemed to be automatically renewed for a one-year period following the
date of such expiration upon the same terms as the preceding
year.  Notwithstanding anything to the contrary set forth herein,
there shall not be any more than four (4) Renewal Terms.  The Initial
Term, as it may be extended by one or more Renewal Terms, is referred to herein
as the Term.

    

    
      	
               
      

            	
              (b)

            	
              In
      the event of the delivery by the Executive of a notice pursuant to section
      7(a), the Executive shall be deemed to have voluntarily resigned from his
      employment hereunder effective on the expiration of the Initial Term or
      Renewal Term, as the case may be.  In the event of termination
      by the Executive under this section 9, the Executive shall be entitled to
      Salary and benefits (including, without limitation, Executive’s Bonus)
      earned up until termination and shall be entitled to reimbursement of
      business expenses recoverable under section 7,
  above,

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        4

      

       

    

     incurred
up until termination. Notwithstanding the foregoing and notwithstanding the
provisions of Article 10 hereof, in the event the Executive delivers a notice
pursuant to subsection 9(a) and is thereby deemed to have voluntarily resigned
from his employment effective on the expiration of the Initial Term or the
Renewal Term, upon receipt of such notice, the Company shall have the right to
immediately terminate the employment of the Executive hereunder and in such
event the Executive shall only be entitled to his Salary and benefits
(including, without limitation, Executive’s Bonus) earned up until termination
and shall be entitled to reimbursement of business expenses recoverable under
section 8 above, incurred up until termination.

    

    
      	
               
      

            	
              (c)

            	
              In
      the event of the delivery by the Company of a notice pursuant to section
      10(a), Company shall pay Executive his Salary and benefits (including,
      without limitation, Executive’s Bonus) earned or accrued through the date
      of termination and shall reimburse Executive for business expenses
      recoverable under section 7, above, incurred up until the date of
      termination.

            

    

    

    TERMINATION

     

    
      	
              10.

            	
              (a)

            	
              Events
      of Termination.  The Term, the Executive’s Salary and any
      and all other rights of the Executive under this Agreement or otherwise as
      an executive of the Company will terminate (except as otherwise provided
      in section 10):

            

    

     

    
      	
               
      

            	
              (i)

            	
              upon
      the death of the Executive;

            

    

     

    
      	
               
      

            	
              (ii)

            	
              upon
      the disability of the Executive (as defined in section 10(b)) immediately
      upon notice from either party to the
other;

            

    

     

    
      	
               
      

            	
              (iii)

            	
              For
      Cause (as defined in section 10(c)), immediately upon notice from the
      Company to the Executive or at such later time as such notice may
      specify;

            

    

     

    
      	
               
      

            	
              (iv)

            	
              Other
      than For Cause, Disability or Death, immediately upon notice from the
      Company to the Executive or at such later time as such notice may specify;
      or

            

    

     

    
      	
               
      

            	
              (v)

            	
              For
      Good Reason (as defined in section 10(d)) upon not less than 10 days'
      prior notice from the Executive to the
Company.

            

    

     

    
      	
               
      

            	
              (b)

            	
              Definition
      of Disability.  For the purposes of section 10(a),
      the Executive will be deemed to have a "disability" if, for
      physical or mental reasons, the Executive is unable to perform the
      Executive's duties for a period of 120 days out of 180 days, under this
      Agreement as determined in accordance with this
      section 10(b).  The disability of the Executive will be
      determined by a medical doctor selected by written agreement of the
      Company and the Executive upon the request of either party by notice to
      the other.  If the Company and the Executive cannot agree on the
      selection of a medical doctor, each of them will select a medical doctor
      and the two medical doctors will select a third medical doctor who will
      determine whether the Executive has a disability.  The
      determination of the medical doctor selected under this section 10.2(b)
      will be binding on both parties.

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        5

      

    

     

    
      	
               
      

            	
              (c)

            	
              Definition
      of "For Cause".  For the purposes of section 10(a), the
      phrase "For Cause"
      means: (i) the Executive's material breach of this Agreement; (ii)
      the Executive’s failure to substantially perform the duties of Chief
      Financial Officer (or such other position with the Company as Executive
      may hold) as contemplated hereunder; (iii) the Executive's failure to
      substantially adhere to any reasonable written Company policy if the
      Executive has been given a reasonable opportunity to comply with such
      policy or cure his failure to comply; (iv) the misappropriation by
      the Executive of a material business opportunity of the Company, including
      securing any undisclosed personal profit in connection with any
      transaction entered into on behalf of the Company; (v) the
      misappropriation of any of the Company's funds, property or Confidential
      Information; (vi) the commission of material acts of dishonesty, willfully
      fraudulent or criminal acts or misconduct, or other willfully wrongful
      acts or omissions materially adversely affecting the Company;
      (vii) the conviction of, the indictment for or its procedural
      equivalent or the entering of a guilty plea or plea of no contest with
      respect to any felony.

            

    

     

    
      	
               
      

            	
              (d)

            	
              Definition
      of "For Good Reason."  For the
      purposes of section 10(a), the phrase "For Good Reason"
      means the Company's material breach of this
  Agreement.

            

    

     

    
      	
               
      

            	
              (e)

            	
              Termination
      Pay.  Effective upon the termination of this Agreement
      for any of the reasons set forth in section10(a), the Company shall be
      obligated to pay the Executive (or in the event of his death, his
      designated beneficiary as defined below) the compensation provided in this
      section 10(e), as well as all business expenses recoverable under Section
      7. For purposes of this section 10(e), the Executive's designated
      beneficiary will be such individual beneficiary or trust, located at such
      address, as the Executive may designate by notice to the Company from time
      to time or if the Executive fails to give notice to the Company of such a
      beneficiary, the Executive's estate. Notwithstanding the preceding
      sentence the Company will have no duty, in any circumstances, to attempt
      to open an estate on behalf of the Executive, to determine whether any
      beneficiary designated by the Executive is alive or to ascertain the
      address of any such beneficiary, to determine the existence of any trust,
      to determine whether any person or entity purporting to act as the
      Executive's personal representative (or the trustee of a trust established
      by the Executive) is duly authorized to act in that capacity or to locate
      or attempt to locate any beneficiary, personal representative, or
      trustee.

            

    

     

    
      
        	
                 

              	
                (i)  Termination by the
      Executive For Good Reason. If the Executive terminates this
      Agreement For Good Reason, the Company shall (A) pay the Executive his
      Salary and other benefits earned or accrued through the date of
      termination.

              

      

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        6

      

    

     

    
      	
               
      

            	
              (ii)

            	
              Termination
      by the Company For Cause.  If
      the Company terminates this Agreement For Cause, the Company shall pay
      Executive his Salary and other benefits earned or accrued through the date
      of termination.

            

    

     

    
      	
               
      

            	
              (iii)

            	
              Termination
      upon Disability.  If this Agreement is terminated by
      either party as a result of the Executive's disability, as determined
      under section 10(a)(ii), the Company shall (A) pay the Executive his
      Salary and other benefits earned or accrued through the remainder of the
      calendar month during which such termination is
  effective.

            

    

     

    
      	
               
      

            	
              (iv)

            	
              Termination
      upon Death.  If
      this Agreement is terminated because of the Executive's death, the Company
      shall (A) pay Executive’s estate or designated beneficiary the Executive’s
      Salary, Bonus and other benefits earned or accrued through the date of
      death.

            

    

     

    
      	
               
      

            	
              (v)

            	
              Termination
      by Company Other than For Cause, Disability or Death. If the Company
      terminates this Agreement other than For Cause or for death or disability,
      the Company shall (A) pay Executive his Salary, Bonus and other benefits
      earned or accrued through
termination.

            

    

     

    CONFIDENTIALITY

    

    
      	
              11.

            	
              (a)

            	
              All
      confidential records, material, information and all trade secrets
      concerning the business or affairs of the Company obtained by the
      Executive in the course of his employment with the Company shall remain
      the exclusive property of the Company.  During the Executive's
      employment or at any time thereafter, the Executive shall not divulge the
      contents of such confidential records, material, information or trade
      secrets to any person, firm or corporation other than to the Company or
      the Company’s qualified executives and following the termination of his
      employment hereunder the Executive shall not, for any reason, use the
      contents of such confidential records, material, information or trade
      secrets for any purpose whatsoever.  This section shall not
      apply to any confidential records, material, information or trade secrets
      which:

            

    

    

    
      	
               
      

            	
              (1)

            	
              is
      or becomes publicly known through the lawful action of any third
      party;

            

    

    

    
      	
               
      

            	
              (2)

            	
              is
      disclosed without restriction to the Executive by a third
      party;

            

    

    

    
      	
               
      

            	
              (3)

            	
              is
      known by the Executive prior to its disclosure by the
    Company;

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        7

      

    

     

    
      	
               
      

            	
              (4)

            	
              is
      subsequently developed by the Executive, independently of records,
      material, information and trade secrets supplied to the Executive by the
      Company;

            

    

    

    
      	
               
      

            	
              (5)

            	
              has
      been made available by the Company directly or indirectly to a third party
      without obligation of confidentiality;
or

            

    

    

    
      	
               
      

            	
              (6)

            	
              the
      Executive is obligated to produce as a result of a court order or pursuant
      to governmental or other legal action, provided that the Company shall
      have been given written notice of such court order or governmental or
      other legal action and an opportunity to appear and
  object.

            

    

    

    
      	
               
      

            	
              (b)

            	
              The
      Executive agrees that all Confidential Information which the Executive
      develops, prepares or works on either individually or on a team during the
      Term with the Company shall belong exclusively to the Company and the
      Executive hereby assigns to the Company all title and interest, including
      copyright and patent rights, thereto and waives any moral rights which the
      Executive may have therein.  If the Executive develops, prepares
      or works on the design or development of Confidential Information of any
      kind during the Term, the Executive will keep notes and other written
      records of such work, which records shall be kept on the premises of the
      Company and made available to the Company at all times for the purpose of
      evaluation and use in obtaining copyright protection or as a protective
      procedure. The Executive will upon request of the Company, and at the
      Company's expense, provide a reasonable level of assistance to the Company
      with respect to applications for trade marks, copyrights, patents or other
      forms of intellectual property protection for work on which the Executive
      was involved during the Term. The Executive agrees to execute such
      documents as are reasonable and necessary for the purpose of the Company
      establishing its right of ownership to such
  property.

            

    

    

    NON-SOLICITATION

    

    12.           The
Executive covenants and agrees with the Company that he shall not, during the
term of his employment hereunder and for a period ending ninety days following
the date of the termination (for any reason) of his employment:

    

    
      	
               
      

            	
              (a)

            	
              directly
      or indirectly solicit, interfere with or endeavor to direct or entice away
      from the Company any person, firm or company who is or has within the
      preceding year been a customer, client, affiliated agency or otherwise in
      the habit of dealing with the Company;
or

            

    

    

    
      	
               
      

            	
              (b)

            	
              Interfere
      with, entice away or otherwise attempt to induce the termination of
      employment of any employee of the
Company.

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        8

      

    

     

    NON-COMPETITION

    

    13.           The
Executive covenants and agrees with the Company that he will not (without the
prior written consent of the Company which consent will not be unreasonably
withheld) directly or indirectly, during the term of his employment hereunder
and for a period 30 days following the date of the termination of his
employment, carry on or be engaged in any business within North America which is
competitive with the Business (a "Competitive Business") where
such business involves “clients or accounts” that were introduced to the
Executive by the Company.

    

    INJUNCTIVE
RELIEF

    

    14.           The
Executive acknowledges and agrees that the agreements and covenants in sections
11 to 13 are essential to protect the business and goodwill of the Company and that a breach by
the Executive of the covenants in sections 11 to 13 hereof could result in
irreparable loss to the Company which could not be adequately compensated for in
damages and that the Company may have no adequate remedy at law if the Executive
breaches such provisions.  Consequently, if the Executive breaches any
of such provisions, the Company shall have in addition to and not in lieu of,
any other rights and remedies available to it under any law or in equity, the
right to obtain injunctive relief to restrain any breach or threatened breach
thereof and to have such provisions specifically enforced by any court of
competent jurisdiction.

     

    DISPUTE RESOLUTION
PROCEDURE

     

    
      	
              15.

            	
              (a)

            	
              The
      parties shall be free to bring all differences of interpretation and
      disputes arising under or related to this Agreement to the attention of
      the other party at any time without prejudicing their harmonious
      relationship and operations hereunder and the offices and facilities of
      either party shall be available at all times for the prompt and effective
      adjustment of any and all such differences, either by mail, telephone, or
      personal meeting, under friendly and courteous
      circumstances.  Notwithstanding the foregoing, any controversy,
      claim, or breach arising out of or relating to this Agreement which the
      parties are unable to resolve to their mutual satisfaction shall be
      resolved in accordance with subparagraph b
  below.

            

    

     

    
      	
               
      

            	
              (b)

            	
              As
      a condition precedent to invoking any other dispute resolution procedure
      including litigation, the parties shall attempt in good faith first to
      mediate such dispute and use their best efforts to reach agreement on the
      matters in dispute.  Within five business days of the
      request of either party, the requesting party shall attempt to employ the
      services of a third person mutually acceptable to both parties to conduct
      such mediation within five business days of the mediator's
      appointment.  Unless otherwise agreed upon by the parties
      hereto, the parties shall share the cost of the mediator's fees and
      expenses equally.  If the parties are unable to agree on such
      third person, then the requesting party may submit the matter to the
      nearest office of the American Arbitration Association for mediation, only, in
      accordance with the commercial mediation rules then
      prevailing.  If, on completion of such mediation, the parties
      are still unable to agree upon and settle the dispute, then either party
      may initiate litigation.  This Agreement contains no arbitration
      clause.  Binding arbitration may only be used upon the mutual
      agreement of the parties hereto.

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        9

      

    

     

    SEVERABILITY

    

    16.           The
parties acknowledge that the provisions of sections 11 to 13 hereof (the "Restrictive Covenants") are
reasonable and valid in geographic and temporal scope and all other
respects.  If any court of competent jurisdiction determines that any
of the Restrictive Covenants or any part thereof, is or are invalid or
unenforceable, the remainder of the Restrictive Covenants shall not thereby be
affected and shall be given full effect, without regard to invalid
portions.  If any court of competent jurisdiction determines that any
of the Restrictive Covenants or any part thereof is unenforceable because of the
duration or geographic scope of such provision, such court shall have the power
to reduce the duration or scope of such provision, as the case may be and, in
its reduced form, such provision shall then be enforceable.  The
Executive acknowledges that the Company's business extends throughout the
geographical area outlined above and that the geographic scope of the covenants
contained herein is reasonable.

    

    INDEMNITY

    

    17.           Except
for acts of dishonesty, willfully fraudulent or criminal acts or other willfully
wrongful acts or omissions on the part of Executive, the Company agrees to
indemnify and save the Executive harmless from and against any and all damages,
liabilities, claims, costs, including reasonable attorneys’ fees, charges and
expenses, including any amount paid to settle any action or satisfy any
judgment, incurred by him in connection with his employment or incurred by him
in respect of any civil, criminal or administrative action or proceeding to
which the Executive is made a party by reason of having been an officer or
employee of the Company.

    

    WHOLE
AGREEMENT

    

    18.           This
Agreement constitutes and expresses the whole agreement of the parties hereto
with respect to the employment of the Executive by the Company and with respect
to any matters or things herein provided for or hereinbefore discussed or
mentioned with reference to such employment.  All promises,
representations, collateral agreements and understandings relative thereto not
incorporated herein are hereby superseded by this Agreement.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        10

      

    

     

    GENERAL

    

    19.           All
notices, request, demands or other communications by the terms hereof required
or permitted to be given by one party to the other shall be given in writing by
personal delivery or by facsimile, addressed to the other party as
follows:

    

    
      
        
          	
                  (a)

                	
                  to
      the Company at:

                	
                  Next1
      Interactive, Inc.

                
	 	 	

                  2400
      North Commerce Pkwy, ste 105

                
	 
      	
                   

                	
                  Weston
      FL 33326

                
	 
      	
                  Attention:

                	
                  William
      Kerby

                
	 
      	
                  Facsimile
      No:

                	
                  (954)
      888-9082

                
	 
      	  
      	 
      
	
                  (b)

                	
                  to
      the Executive at:

                	
                  Teresa
      McWilliams

                
	 
      	
                   

                	

                  9642
      Ridgecrest Court

                
	 
      	
                   

                	

                  Davie,
      Fl 33328

                
	 
      	
                  Facsimile
      No:

                	
                  954-206-0487

                

        

      

    

    

    or such
other addresses as may be given by either of them to the other in writing from
time to time.

    

    20.           This
Agreement shall be governed by and interpreted under the laws of the State of
Florida without regard to principals of conflicts of law.

    

    21.           All
dollar amounts referred to in this Agreement are expressed in U.S.
funds.

    

    
      	
              22.

            	
              (a)

            	
              This
      Agreement is personal to the Executive and may not be assigned by
      him.

            

    

    

    
      	
               
      

            	
              (b)

            	
              Upon
      notice to the Executive, this Agreement may be assigned to an affiliate of
      the Company, provided that notwithstanding such assignment, the Company
      continues to guarantee the performance by such assignee of its obligations
      hereunder.  This Agreement shall not otherwise be assigned by
      Company and such restriction shall include any assignment by operation of
      law.

            

    

    

    
      	
               
      

            	
              (c)

            	
              Except
      as aforesaid, this Agreement shall enure to the benefit of and be binding
      upon the parties hereto and their respective successors and assigns,
      including, in the case of the Executive, his heirs, executors,
      administrators and legal personnel
  representatives.

            

    

    

    23.           Time
shall be of the essence of this Agreement and of every part hereof.

    

    24.           The
parties acknowledge and agree that, except to the extent the context clearly
requires otherwise, the representations, warranties and covenants set forth
herein shall survive the termination or expiration of this
Agreement.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        11

      

       

    

    25.           The
parties acknowledge that each of them has read and understood this Agreement,
and that each of them has been given the opportunity to obtain independent legal
advice in connection with this Agreement and its terms.

    

    IN WITNESS WHEREOF the parties
hereto have executed this Agreement as of the date first above
written.

    

    
      
        
          
            
              
                
                  
                    
                      	 
      	 	
                              Next1
      Interactive, Inc.

                            
	 
      	 	 
      	 
      
	 
      	 	 
      	 
      
	 
      	 	
                              By: 

                            	
                              /s/ William Kerby

                            
	 
      	 	
                               

                            	

                              William
      Kerby

                            
	 
      	 	 
      	 
      
	 
      	 	 
      	 
      
	
                              /s/William Forhan

                            	 	
                               

                            	

                              /s/ Teresa Mc Williams

                            
	
                              Witness

                            	 	
                               

                            	

                              Teresa
      McWilliams

                            

                    

                  

                

              

            

          

        

      

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        12

      

    

     

    EXHIBIT
A

    To
the Employment Agreement Dated the 17th day of November, 2008

    by
and between

    Next
1 Interactive, Inc. and Teresa McWilliams

    

    The
Executive’s initial responsibilities are as follows:

     

    
      Duties:   Oversee and
report on all financial transactions of the Next1 Interactive, Inc. (Next1), its
subsidiaries or any other business entity related to Next1 or its successor
company in conformance with generally accepted accounting
principles.

    

    

    
      	
               
      

            	
              Fulfill
      all reporting requirements for internal and external purposes in a public
      or private environment including fulfilling requirements according to
      Sarbanes-Oxley and providing financial statements internally for
      management purposes.

            

    

    

    
      	
               
      

            	
              Use
      best practices in cash flow management, accounts receivable, accounts
      payable, budgeting and financial forecasting as well as systems
      development.Unassociated Document

    

     

    Exhibit
10.2

     

     

    March 13,
2009

     

    Mr. Harry
Edelson

    Chief
Executive Officer

    China
Opportunity Acquisition Corp.

    300 Tice
Boulevard

    Woodcliff
Lake, NJ 07677

    

    Dear Mr.
Edelson:

    

    Chardan
Capital Markets, LLC (“Chardan”) is pleased
to act as a financial advisor to China Opportunity Acquisition Corp. (the “Company”) in
connection, SPAC closing services (the “Advisory Services”)
with respect to a transaction or related series or combination of transactions
involving a purchase of assets or outstanding stock (or securities convertible
into stock) or a merger, acquisition or other business combination, including a
recapitalization, a consolidation or a joint venture: in the nature of an
acquisition (any or all of the foregoing, a “Transaction”). This letter
agreement (the “Agreement”) sets
forth the terms of our engagement.

     

    1. Term, etc. The
term (the “Term”) of this
Agreement shall commence on the date hereof and shall continue through March 20,
2009. During the term, the Company shall notify Chardan immediately of any
contacts with third parties with respect to the proposed Advisory Services.
Notwithstanding anything to the contrary contained herein. the provisions
concerning fees, unpaid fees, expenses, confidentiality, indemnification and
contribution contained herein will survive any expiration or termination of this
Agreement.

     

    2. Fees. The Company
shall pay to Chardan a $150,000.00 (One Hundred and Fifty Thousand Dollars) cash
fee within three clays after the vote approving the merger by more than 60% of
the total votes for the SPAC closing services. Such fee shall be payable by wire
transfer or check acceptable to Chardan.

     

    3. Expenses. The Company
hereby agrees to reimburse Chardan for reasonable travel and other out-of-pocket
expenses incurred in connection with Chardan’s engagement, including the
reasonable fees and expenses of Chardan’s counsel, up to a maximum amount of
$10,000.

     

    4. Use of Information.
The Company will furnish Chardan such written information as Chardan reasonably
requests in connection with the performance of its services hereunder. The
Company understands. acknowledges and agrees that, in performing its services
hereunder, Chardan will use and rely entirely upon such information as well as
publicly available information regarding the Company and other potential parties
to a Transaction and that Chardan does not assume responsibility for independent
verification of the accuracy or completeness of any information, whether
publicly available or otherwise furnished to it, concerning the Company or
otherwise relevant to a Transaction, including, without limitation, any
financial information, forecasts or projections considered by Chardan in
connection with the provision of its services.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    5. Confidentiality and
Publicity. In the event of the consummation or public announcement of any
Transaction, Chardan shall have the right (i) to review and comments on the text
of any such announcement, , and (ii) to disclose its participation in such
Transaction, including, without limitation, the placement at its cost of
“tombstone” advertisements in financial and other newspapers and journals.Any
press release issued by the Company with respect to the consummation of a
Transaction shall refer to Chardan as the Company’s special advisor with respect
to such “Transaction. The parties hereto have executed or will execute a
confidentiality agreement (the “NDA”) which will survive the execution of this
Agreement.

     

    6. Indemnity.

     

    (a) In
connection with the Company’s engagement of Chardan as its financial advisor,
the Company hereby agrees to indemnify and hold harmless Chardan and its
Affiliates, and the respective controlling persons, directors, officers,
shareholders, agents and employees of any of (lie foregoing (collectively the
“Indemnified Persons”), from and against any and all claims, actions, suits,
proceedings (including those of shareholders). damages, liabilities and
reasonable expenses incurred by any of them, including the reasonable fees and
expenses of one counsel to all such parties (collectively a “Claim”), as
incurred, which are (i) related to or arise out of (a) any actions taken or
omitted to be taken (including any untrue statements made or any statements
omitted to be made) by the Company, or (b) any actions taken or omitted to be
taken by any Indemnified Person in connection with the Company’s engagement of
Chardan, or (ii) otherwise relate to or arise out of Chardan’s activities on the
Company’s behalf under Chardan’s engagement. and the Company shall reimburse any
Indemnified Person for all expenses, as incurred, (including the reasonable fees
and expenses of such counsel) incurred by such Indemnified Person in connection
with investigating, preparing or defending any such Claim, action, suit or
proceeding, whether or not in connection with pending or threatened litigation
in which any Indemnified Person is a party. The Company will not, however, be
responsible for any Claim, which is finally judicially determined to have
resulted from the gross negligence or willful misconduct of any person seeking
indemnification for such Claim. The Company further agrees that no Indemnified
Person shall have any liability to the Company for or in connection with the
Company’s engagement of Chardan except for any Claim incurred by the Company as
a result of such Indemnified Person’s gross negligence or willful
misconduct.

     

    (b) The
Company further agrees that it will not, without the prior written consent of
Chardan, settle, compromise or consent to the entry of any judgment in any
pending or threatened Claim in respect of which indemnification may be sought
hereunder (whether or not any Indemnified Person is an actual or potential party
to such Claim), unless such settlement, compromise or consent includes an
unconditional, irrevocable release of each Indemnified Person from any and all
liability arising out of such Claim.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    (c) Promptly
upon receipt by an Indemnified Person of notice of any complaint or the
assertion or institution of any Claim with respect to which indemnification is
being sought hereunder, such Indemnified Person shall notify the Company in
writing of such complaint or of such assertion or institution, but failure to so
notify the Company shall not relieve the Company from any obligation it may have
hereunder, except and only to the extent such failure results in the forfeiture
by the Company of substantial rights and defenses. If the Company so elects or
is requested by such Indemnified Person, the Company will assume the defense of
such Claim, including the employment of counsel reasonably satisfactory to such
Indemnified Person and the payment of the reasonable fees and expenses of such
counsel. In the event, however, that legal counsel to such Indemnified Person
reasonably determines that having common counsel would present such counsel with
a conflict of interest or if the defendant in, or target of, any such Claim,
includes an Indemnified Person and the Company, and legal counsel to such
Indemnified Person reasonably concludes that there may be legal defenses
available to it or other Indemnified Persons different from or in addition to
those available to the Company, then such Indemnified Person may employ its own
separate counsel to represent or defend him, her or it in any such Claim and the
Company shall pay the reasonable fees and expenses of such counsel.
Notwithstanding anything herein to the contrary, if the Company fails timely or
diligently to defend, contest, or otherwise protect against any Claim, the
relevant Indemnified Party shall have the right, but not the obligation, to
defend, contest, compromise, settle, assert crossclaims, or counterclaims or
otherwise protect against the same, and shall be fully indemnified by the
Company therefor, including without limitation, for the reasonable fees and
expenses of its counsel and all amounts paid as a result of such Claim or the
compromise or settlement thereof. In addition, with respect to any Claim in
which the Company assumes the defense, the Indemnified Person shall have the
right to participate in such Claim and to retain his, her or its own counsel
therefor at his, her or its own expense.

     

    (d) The
Company agrees that if any indemnity sought by an Indemnified Person hereunder
is held by a court to be unavailable for any reason then (whether or not Chardan
is the Indemnified Person), the Company and Chardan shall contribute to the
Claim for which such indemnity is held unavailable in such proportion as is
appropriate to reflect the relative benefits to the Company, on the one hand,
and Chardan on the other, in connection with Chardan’s engagement referred to
above, subject to the limitation that in no event shall the amount of Chardan’s
contribution to such Claim exceed the amount of fees actually received by
Chardan from the Company pursuant to Chardan’s engagement. The Company hereby
agrees that the relative benefits to the Company, on the one hand, and Chardan
on the other, with respect to Chardan’s engagement shall be deemed to be in the
same proportion as (a) the total value paid or proposed to be paid or received
by the Company or its stockholders as the case may be, pursuant to the
Transaction (whether or not consummated) for which Chardan is engaged to render
services bears to (b) the fee paid or proposed to be paid to Chardan in
connection with such engagement.

     

    (e) The
Company’s indemnity, reimbursement and contribution obligations under this
Agreement (a) shall be in addition to, and shall in no way limit or otherwise
adversely affect any rights that any Indemnified Party may have at law or at
equity and (b) shall be effective whether or not the Company is at fault in ally
way,

     

    7. Limitation of Engagement to
the Company. The parties hereto acknowledge that Chardan has been
retained solely as an advisor to the Company, and not as an agent of the
Company, and that the Company’s engagement of Chardan is as an independent
contractor and not in any fiduciary or other capacity. Neither this engagement,
nor the delivery of any advice in connection with this engagement, is intended
to confer rights upon any persons not a party hereto.  Chardan shall
not have the authority to make any commitment binding on the
Company.  The Company, in its sole discretion, shall have the right to
reject any Transaction introduced to it by Chardan.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    8. Limitation of Chardan’s
Liability to the
Company.                                                                                                           Chardan
and the Company further agree that neither Chardan nor any of its affiliates or
any of their respective officers, directors, controlling persons (within the
meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act),
employees or agents shall have any liability to the Company, its security
holders or creditors, or any person asserting claims on behalf of or in the
right of the Company (whether direct or indirect, in contract, tort, for an act
of negligence or otherwise) for any losses, fee, damages, liabilities, costs,
expenses or equitable rclief arising out of or relating to this Agreement or the
services rendered hereunder, except for losses, fees, damages, liabilities,
costs or expenses that arise out of or are based on any action of or failure to
act by Chardan and that are finally judicially determined to have resulted
solely from the gross negligence or willful misconduct of Chardan.

     

    9. Governing Law; Costs.
This Agreement shall be governed by and construed in accordance with the laws of
the State of New York applicable to agreements made and to be fully performed
therein. Any disputes which arise under this Agreement will be heard only in the
state or federal courts located in the City of New York, State of New York. The
parties hereto expressly agree to submit themselves to the jurisdiction of the
foregoing courts in the City of New York, State of New York. The parties hereto
expressly waive any rights they may have to contest the jurisdiction, venue or
authority of any court sitting in the City and State of New York.  In
the event of the bringing of any action, proceeding or suit by a party hereto
against the other party hereto, arising out of or relating to this Agreement,
the party in whose favor the final judgment or award shall be entered shall be
entitled to have and recover from the other party the costs and expenses
incurred in connection therewith, including its reasonable attorneys’ fees. Any
rights to trial by jury with respect to any such action, proceeding or suit are
hereby waived by Chardan and the Company.

     

    10. Notices. All notices
hereunder will be in writing and sent by certified mail, hand delivery,
overnight delivery or fax, if sent to Chardan, to Chardan Capital Markets, LLC,
17 State Street, 16th Floor, New York, NY 10004, fax number (646) 465-9091,
Attention: General Counsel, and if sent to the Company, to the address set forth
on the first page, fax number________, Attention: __________.  Notices
sent by certified mail shall be deemed received five days thereafter, notices
sent by hand delivery or overnight delivery shall be deemed received on the date
of the relevant written record of receipt, and notices delivered by fax shall be
deemed received as of the date and time printed thereon by the fax
machine.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    11. Waiver of Any Rights to the
Trust Fund. Chardan agrees that, notwithstanding anything to the contrary
in this Agreement, it does not now have, and shall not at any time prior to the
Closing have, any rights, title, interest or claim of any kind in or to, or make
any claim of any kind against, monies held in the Trust Fund, regardless of
whether such claim arises as a result of, in connection with or relating in any
way to, the business relationship between Chardan, on the one hand, and the
Company, on the other hand, this Agreement, or any other agreement or any other
matter, and regardless of whether such claim arises based on contract, tort,
equity or any other theory of legal liability (any and all such claims are
collectively referred to in this Section 15 as the “Trust Claims”).
Notwithstanding anything to the contrary in this Agreement, Chardan hereby
irrevocably waives any Trust Claim it may have, now or in the future, and will
not seek recourse against, the Trust Fund for any reason whatsoever in respect
thereof. In the event that Chardan or any of its Affiliates commences any action
or proceeding based upon, in connection with, relating to or arising out of any
matter relating to the Company, which proceeding seeks, in whole or in part,
relief against the Trust Fund or the public: stockholders of the Company for
money damages, the Company shall be entitled to recover from Chardan the
associated legal fees and costs in connection with any such action, in the event
the Company prevails in such action or proceeding­

     

    12. Miscellaneous. This
Agreement shall not be modified or amended except in writing signed by Chardan
and the Company. This Agreement shall be binding upon and inure to the benefit
of both Chardan and the Company and their respective assigns, successors, and
legal representatives. This Agreement (along with the NDA, if any) and the Form
of Vendor Letter attached hereto constitute the entire agreement of Chardan and
the Company with respect to the subject matter hereof and supersede any prior
agreements. If any provision of this Agreement is determined to be invalid or
unenforceable in any respect, such determination will not affect such provision
in any other respect, and the remainder of the Agreement shall remain in full
force and effect. This Agreement may be executed in counterparts (including
facsimile  counterparts), each of which shall be deemed an original
but all of which together shall constitute one and the same
instrument.

     

    In
acknowledgment that the foregoing correctly sets forth the understanding reached
by Chardan and the Company, please sign in the space provided below, whereupon
this letter shall constitute a binding, Agreement as of the date indicated
above.

     

    
      
        	 	      
                Very
      truly yours,

                 

                CHARDAN
      CAPITAL MARKETS, LLC

              	 
	 	 	 	 
	
                 

              	
                By:
      

              	/s/ 	 
	 	 	Name:
      Kerry Proppcr	 
	 	 	Title:
      Chief Executive Officer	 
	 	 	 	 

      

    

    Accepted
and Agreed to as of

    the date
first written above:

     

    
      
        
          	CHINA
      OPPORTUNITY ACQUISITION CORP.	 
	 	 	 
	
                  By:
      

                	/s/ 	 
	 	Name:
      Harry Edelson	 
	 	Title:
      Chief Executive Officer

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