Investment management contract

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					                      Investment management contract

I. Parties

      Constituent:
       (Hereafter: client)

      Agent: AG (corporation), Sihlquai 253, CH-8005 Zürich
       (Hereafter: thaistocks)

II. Mandate for managing the investment for the client.

       The client will open an account in his/her name at the HSBC Private Bank
(Switzerland) corporation (Paradeplatz 5, CH-8039 Zürich), and will therein pay
the sum of ………… CHF. The client authorizes thaistocks to manage these assets.
       Thaistocks are authorized and allowed at their duty-bound discretion to
buy and sell shares mainly in the Thai-smaller-caps sector, as well as other Thai
titles, which are seen fit to buy or sell, and to invest all revenue (capital) at their
own choice. Thaistocks are furthermore authorized to conduct arbitrage and
subscription, and to exercise or sell purchase rights, as well as to make any
other disposition seen as appropriate to the administration of the above-
mentioned assets. The shares will be exclusively managed in the custody account
of the client's name.
       Thaistocks are not allowed any acts of disposition for or towards their own
end (e.g. withdrawal of money) with the exception of the following agreed upon
compensation (cp. V.).
       Thaistocks are authorized to represent the client in dealing with third
parties (banks, etc.).
       A separately drawn up certification of authority will serve as the
legitimation of thaistocks in dealing with other parties. This authorization is in the
bounds of its purpose of a general nature. Thaistocks are authorized to assign
this authorization to third parties.

III. Term

This contract will become effective on the…………… This concluded agreement is
indefinitely binding for both parties, it can however be cancelled by either party
at any time.

IV. Duty to account

     In regard to the investment thaistocks must in the middle and at the end
of each year (beginning on the………….) account for and report about:

   1.) profit/loss
   2.) financial standing and situation
   3.) decisions and actions.

V. Compensation

     The client will compensate thaistocks for their efforts with a yearly 2%
management fee, to be paid one-half in the middle and one-half at the end of
each year and always payable six months in advance. This fee will be based on
the value of the custody account and the asset/cash account (net asset value,
     Thaistocks will also receive as a bonus a part of all gains on the original
investment, to be paid in the middle and at the end of each year, as following:
     10% of all gains on the original investment between 10-20%
     20% of all gains on the original investment between 20-30%
     30% of all gains on the original investment between 30-40%
     40% of all gains on the original investment between 40-50% and so forth.
     This bonus is to be paid within 10 days after receiving the account-
statement from thaistocks.
     The payment of the bonus is to be compensated separately, meaning that
the bonus will not be a part of the performance calculation of the following
accounting period.
     Thaistocks will prepare an account-statement every half year.

VI. Account administration

       Every half year (on the 30th of June and the 31st of December) thaistocks
will give the client an account of the attained profits (proceeds and capital gain)
and/or losses. The client takes note that dealing with shares always bears the
risk of a loss of (all) capital (don’t' think we need the word "all" here. Thaistocks
is never liable for any loss on any investments.
       If the client desires to withdraw money, he or she will notify thaistocks of
this by e-mail.

VII. General Provisions

      This mandate will continue under provisions of the law after death, loss of
the capacity to act, or bankruptcy of the client or if the client should be declared
as missing or as lost (e.g. at sea).
      The appropriate regulations of the Swiss Law of Obligations will apply, only
if they are not contradictory to the arrangements and regulations in this contract.
      The jurisdiction and place of delivery is for both parties Zürich.
      Two copies of this contract will be made.

Zürich, the …..

The client and constituent:                                 The agent


Contract client / thaistocks