Exhibit 10.4
Party A: Expert Network (Shenzhen) Company Limited
Representative: SONG Feng
Party B: FuJian International Consultants Limited
Representative: WANG Lu Fei
In order to speed up the development of Party A’s e-government construction projects in various area of Fujian province of China and enhance the competitiveness and efficiency in Party A’s e-government business, Party A has approached Party B since January 2006 to discuss the feasibility of cooperation and condition to appoint Party B as the project consultant for Party A. After review and examination, Party A confirmed that Party B’s connection and liaising work in Fujian province of China is beneficial to the development of Party A’s e-government business in the same area.
In light of the principle of equality and mutual benefit, Party A and Party B has reached the following agreement after negotiation:
1.
Party A agrees to appoint Party B as the project consultant for Party A and Party B agrees to accept such appointment to assist Party A in sourcing governments as partner for Party A’s e-government project and providing a series of services to promote Party A’s e-government construction projects.
2.
Party B shall take advantage of its own resources and manpower to actively source new-e-government project contracts for Party A and provide consultation, strategy forming and opinion giving services to Party A’s business activities in relation to its e-government project contracts.
3.
It is hereby confirmed by both Party A and Party B that Party A agrees to pay the consultant fee to Party B once and for all for the aforesaid consulting to be provided by Party B, details of such consultant fee are as follows:
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3.1 Consultant fee: | Party A shall pay Party B such consultant fee in an amount equals to 15% of the estimated gross profit of the e-government contract signed by Party A that is sourced by Party B. Party A has the sole discretion in determining the estimated gross profit amount and Party B cannot object to such estimation. |
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3.2 Payment: | Party A shall pay the consultant fee by way of common stock of its parent company China Expert Technology Inc. (OTCBB trade symbol: CXTI). Both Party A and Party B agree that the common stock will be received by the person designated by Party B. |
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3.3 Calculation method of the common stock value: | The value of the common stock to be paid to Party B as consultant fee shall be valued at the average of the daily market closing price of CXTI’s common stock traded in OTCBB from January 2, 2006 to March 2, 2006. |
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3.4 Time of payment: | Payment shall be made within 10 days from the date Party A successfully signed a main contract of e-government project with the city government sourced by Party B and obtained the certificate for commencement of works issued by such city government. |
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3.5 Validity of Agreement | The validity of this Agreement is one year from the date of execution of this Agreement. |
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3.6 Remarks: | Upon completion of the first phrase of the e-government under the main contract signed between Party A and the city government sourced by Party B, Party A shall be able to continue to construct any further phrases of the same e-government project or make nay other construction contracts with the same city government for the constructions of other projects without the consent of Party B and/or without paying any further commission to Party B. |
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4.
In the event that any situation not contemplated in this Agreement occurs, both Party A and Party B may sign supplementary agreement on terms agreed upon mutual agreement between the parties herein.
5.
This Agreement shall be signed in duplicate, with both Party A and Party B keeps one copy respectively. This Agreement becomes effective upon signing and sealed by both Parties.
Party A: Expert Network (Shenzhen) Company Limited
Address: 31st Floor, Development Centre Building, Renminnan Road, Shenzhen City, China.
Representative: SONG Feng (Signed and sealed)
Party B: FuJian International Consultants Limited
Address: TrustNet Chambers, P.O. Box 3444, Road Town, Tortola, British Virgin Island
Representative: WANG Lu Fei (Signed and sealed)
Signed Date: March 2, 2006.
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