Document:

China Expert Technology Inc.: Exhibit 10.46 - Prepared by TNT Filings
Inc.

 

  
  EXHIBIT 10.46

  
  Jin Gong He Number: 05006

  THE JINJIANG E-GOVERNMENT SYSTEM ADMINISTRATION AND
  

  APPLIED TECHNOLOGY TRAINING

   

   

  CONTRACT

  

   

   

  Party A:       Jinjiang City Gong Cheng Management Limited Company
   

  Party B:       Expert Network (Shenzhen) Company Limited

  Contract Signing Date: February 15, 2005

  

The Jinjiang e-government system has already been
put into operation.  In order to enhance the capability of all department heads
and specialized technicians in utilizing information network technology and
resources, maintain long-term stable operation of the e-government system,
comprehensively move forward to information construction of local areas and
departments, Jinjiang City decided to commence, after the expiry of the system
warranty period, e-government system administration and applied technology
training to all department heads and specialized technicians, and confirm to
appoint Party B to undertake the Jinjiang e-government System Administration and
Applied Technology training.  To ensure the project to be completed with high
standard and quality, both parties through friendly negotiation and based on the
principle of mutual trust, honest cooperation and development agreed the
following terms and conditions of this contract.

Article
1                      Definition and Meaning

The project mentioned in this contract, unless otherwise specified, means
''Jinjiang e-Government System Administration and Applied Technology Training''.

Article 2                      Two     Scope of Project

The scope of this Project is to provide training to leading cadre members
of each department and part of general cadre staff, totaling 3500 people.

All the scope of works involved in this contract have been specified in
the ''Jinjiang e-Government System Administration and Applied Technology Training
Proposal'' submitted by Party B before the implementation and approved by Party
A.  The venue, equipments and facilities required by the training shall be
provided by Party A; particulars of which are not included in this contract.
 

Article 3                      Training Objectives

Through training, to make the leaders of each department and specialized
technicians to have improvements on the foundation of the completed elementary
e-government training, increase the recognition of the strategic significance of
moving forward the information and e-government system, and enhance system
administration, application level and operation ability of e-government so as to
meet the challenge arising from the construction of administration information,
and to establish a foundation for Jinjiang City to promote national economic and
construction of social information.                             
 

Article 4
                   Project Implementation Period

The Project implementation period is 9 months, the training is
preliminarily fixed to be commenced in February 2006, the actual commencement
date to be confirmed and signed by the parties according to the training and
schedule proposal.  In principle, each training cycle lasts 1 week,4 classes per
cycle and 25 persons per class.  Each training cycle shall be linked up with the
other.

Article
5                    Rights and Obligations

5.1.      The rights and obligations of Party A.

5.1.1    Appoint a person to be responsible for coordinating and organizing the
Project implementation after the commencement of the Project.

5.1.2    Be responsible for coordinating and providing venue and related
facilities etc. when the training is carrying out, and assist Party B to do the
research and investigation work and implementation etc..

5.1.3    Party A shall have the right to supervise and confirm the teachers and
the effect of training, to form a working committee with Jinjiang e-government
construction command department to assess the effect of training and to
supervise and recognize the training assessment.

5.1.4    Pay Party B the contract sum according to the terms and conditions of
this contract.

5.2       The rights and obligations of Party B.

5.2.1    Before the commencement of the Project, Party B should based on the
management experience arising from the Jinjiang e-government training arrange
the training proposal, schedule and teaching proposals for implementation upon
the confirmation of Party A.  Those proposals confirmed by Party A shall deem to
be appendixes of this contract and have the same legal effect as this contract.

5.2.2.   Should provide the arrangement of training course and teaching and
assessment plan for the approval of Party A before the commencement of each
training cycle.  Once it is approved by Party A, Party B should based on the
teaching plan provide training and assessment and to ensure the training
quality.

5.2.3.   Other rights and obligations of Party B to be specified in the Project
training plan.

Article 6                      Training Cost & Payment Method

6.1.      Training Cost

6.1.1.   The cost stated in this contract is in RMB inclusive of taxes.

6.1.2.   The contract sum shall be paid by installment according to the numbers
of the training and the number of persons to be trained.  The training cost is
RMB4,215 per person, which includes the training fee and teaching
materials.

6.1.3.   The number of persons to be trained under this contract is 3,500
persons; the total contract sum is  RMB FOURTEEN MILLION SEVEN HUNDREN
FIFTY TWO THOUSAND AND FIVE HUNDRED ONLY (¥14,752,500.00).

6.2.      Payment Method

6.2.1.   Within 10 working days after the
commencement of training, Party A shall pay 10% of the total contract sum
as advance payment, amounts to RMB ONE MILLION
FOUR HUNDRED SEVENTY FIVE THOUSAND AND TWO HUNDRED FIFTY ONLY (¥1,475,250.00).

6.2.2.   Party A shall according to the proportion and progress of training,
settle the account upon completion of every 10 training cycles, such settlement
does not include advance payment.

6.2.3.   After the project has been completed, the contract amount shall be
calculated based on the actual number of persons trained.  

Article
7                      Confidentiality Provisions

7.1       Without the permission of one party, the other party shall not divulge
any internal information, data and other commercial information of bother
parties involved in this Project to any other 3rd party.

7.2       If any party divulges the confidential information, the other party
shall have the right to institute legal proceedings against such party.

7.3       This article shall remain effective even if this contract has been
modified, released or terminated.

7.4       Both parties guarantee, save and except to the staff participated in
the Project, not to divulge to any other staff, training teachers any
information, data and other commercial information and secret involved in the
Project.

Article
8                      Responsibilities for Breach of Contract

8.1.      Save for the event of Force Majeure, either party shall not terminate
or rescind the contract without cause,
otherwise such party shall  pay the other a corresponsive compensation;
 the exact amount to be negotiated and agreed by both parties.

8.2       Any alternation to the period mentioned in Article 4 hereof shall be
signed and agreed by both party A and Party B.  If the extension of the
implementation period of the Project is not solely caused by Party B, Party A
shall pay a compensation for the time extended; the exact amount to be
negotiated and agreed by both parties.  If it is solely caused by Party B, and
Party B cannot complete the Project in accordance with the time stipulated in
Article 4 hereof, Party B shall pay an indemnity for the time extended; the
exact amount to be negotiated and agreed by both parties.

8.3       If the training proposal of Party B is delayed due to Party A's
failure to pay training costs according to the progress or its failure to work
in coordination with Party B as requested, Party A shall pay Party B a
compensation; the exact amount to be negotiated and agreed by both parties.
 

Article
9                      Dispute Resolutions

In Party A and Party B have dissenting views in respect of the
interpretation of the terms and conditions of the contract, or there is dispute
arising from any matters relating to the contract, both parties shall based on
the principle of friendly corporation negotiate and discuss with each other.  If
it failed to settle the dispute by negotiation, either party may institute the
legal action in the court of the signing place.

Article 10                    Miscellaneous
 

1.         
 This
contract becomes effective from the date of signing with chop by both parties.

2.         
 This is
the final contract between both parties which shall not be altered arbitrarily
without the written consent of both parties.  The ''Jinjiang e-Government System
Administration and Applied Technology Training Proposal'', the ''Jinjiang
e-Government System Administration and Applied Technology Training Schedule
Proposal'' and the ''Jinjiang e-Government System Administration and Applied
Technology Training Teaching Proposal'' which have been signed and agreed by both
parties before implementation of the project, are the appendixes of this
contract and shall have the same legal effect as this contract.

3.         
 This
contract is in quadruplicate, each of Party A and Party B holds two copies which
shall have the same legal effect.

Appendix I:     Jinjiang
e-Government System Administration and Applied Technology Training Proposal
 

Appendix II:   Jinjiang
e-Government System Administration and Applied Technology Training Schedule
Proposal

Appendix III:  Jinjiang
e-Government System Administration and Applied Technology Training Teaching
Proposal

 

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Party A:                                   Jinjiang City Gong Cheng
Management Limited Company

Representative:                      [Signature
of the representative with the chop of Jinjiang City Gong Cheng Management
Limited Company]

 

Party B:                                   Expert Network (Shenzhen)
Company Limited

Representative:                     [Signature
of Song Feng with the chop of Expert Network (Shenzhen) Company Limited]

 

Signing Date:              February 15, 2005

Signing Place:             Jinjiang City of Fujian ProvinceExhibit 10.12 Third Amendment to Revolving Note

    THIRD
      AMENDMENT

    TO

    REVOLVING
      NOTE

    

    THIS
      THIRD AMENDMENT (this “Third
      Amendment”)
      is
      made to that certain Revolving Note dated as of May 29, 2003 (the “Note”)
      in
      favor of MARK A. EMALFARB TRUST U/A/D dated October 1, 1997 (the “Lender”)
      by a
      wholly-owned subsidiary of DYADIC INTERNATIONAL, INC., a Delaware corporation
      (the “Borrower”),
      Dyadic International (USA), Inc., a Florida corporation (formerly known as
      Dyadic International, Inc.) (the “Borrower’s
      Predecessor”)
      and
      assumed by the Borrower pursuant to an Assumption Agreement dated October 29,
      2004 by and between the Borrower and the Lender.

    

    RECITALS:

    

    A. The
      Note
      is secured pursuant to the terms of a Security Agreement dated as of May 29,
      2003. 

    

    B. Capitalized
      terms not expressly defined herein shall have the meaning assigned those terms
      in the Note, as amended by First Amendment dated February 13, 2004 and Second
      Amendment dated August 19, 2004.

    

    C. Lender
      owns and holds the Note.

    

    D. Borrower
      has requested that Lender extend the scheduled Maturity Date under the Note
      until January 1, 2008.

    

    AMENDMENT
      TO NOTE:

    

    NOW,
      THEREFORE, in consideration of the foregoing Recitals and for other good and
      valuable consideration, the receipt and sufficiency of which are hereby
      expressly acknowledged by Lender, Borrower and Lender hereby agree as
      follows:

    

    1. Incorporation
      of Recitals.
      The
      foregoing Recitals are incorporated herein and by this reference made a part
      hereof, and this Third Amendment shall be construed in accordance
      therewith.

    

    2. Amendment
      of Maturity Date.
      The
      Note shall be amended by deleting all references contained therein to the phrase
      “January 1, 2007” and substituting therefore the phrase “January 1,
      2008”.

    

    3. Attachment;
      Continued Effectiveness of Note.
      This
      Third Amendment is attached to and forms an integral part of the Note. All
      of
      the provisions of the Note, as amended by this Third Amendment, shall remain
      in
      full force and effect.

    

    4. Effective
      Date.
      This
      Amendment shall be effective as of April 30, 2006.

    

    5. Counterparts.
      This
      Third Amendment may be signed in multiple counterparts, each of which shall
      be
      deemed to be an original and all of which, taken together, shall constitute
      one
      and the same instrument.

    

    DYADIC
      INTERNATIONAL, INC., a Delaware

    corporation

    

    

    

    Accepted:

    

    MARK
      A.
      EMALFARB TRUST U/A/D October 1, 1987

    

    

    By:
      ________________________________

    Mark
      A.
      Emalfarb, Trustee

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