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Memorandum - ELVA INTERNATIONAL INC - 4-16-2001

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Memorandum - ELVA INTERNATIONAL INC - 4-16-2001 Powered By Docstoc
					EXHIBIT 3(i).5 THE COMPANIES ACT, CAP. 50 REPUBLIC OF SINGAPORE ELVA ASIA PTE LTD Incorporated on the 30th day of October 2000 Memorandum and Articles of Association

PRIVATE COMPANY LIMITED BY SHARES

FORM 9 THE COMPANIES ACT, CAP. 50 Section 19(4) Company No: 200009237H CERTIFICATE OF INCORPORATION OF PRIVATE COMPANY This is to certify that ELVA ASIA PTE LTD is incorporated under the Companies Act, Cap. 50, on 30/10/2000 and that the company is a private company limited by shares. Given under my hand and seal on 30/10/2000 Ms Janice Aw Senior Asst Registrar of Companies & Businesses Republic of Singapore

THE COMPANIES ACT, CAP. 50 COMPANY LIMITED BY SHARES MEMORANDUM OF ASSOCIATION OF ELVA ASIA PTE LTD (Incorporated in the Republic of Singapore) 1. The name of the Company is ELVA ASIA PTE LTD. 2. The registered office of the Company will be situate in the Republic of Singapore. 3. The objects for which the Company is established are:(a) To carry on business of manufactures, assemblers, installers, importers, exporters, buyers, sellers, traders, general merchants, wholesalers, retailers, suppliers, storers, warehousers, brokers, commission agents, general agents, del credere agents, manufacturer's agents and representatives, auctioneers, appraisers, valuers, factors, general carriers, removers, packers, distributors of and dealers in microelectronic components, chips, parts, products and accessories namely VocaliD smart cards including its requisites and supplies to business, commerce, trade, industry and government or local or other authority in all their branches, and generally to acquire rights, licences, privileges and concessions of any kind likely to be conducive to the objects of the Company and to grant licences or rights in connection therewith. (b) To develop, design, improve, update, produce, package, market, distribute, buy, sell, license, provide, advertise, import export install, revise, operate, support, service and maintain computer software, equipment, accessories, spare and replacement parts, disks, component parts, gadgets and products associated with VocaliD system implementation involving its leading-edge technology; to provide management and technical consultant services in relation to VocaliD systems and processes for firms and corporations engaged in business with the company and in particular to advise upon, direct, co-ordinate, supervise, control or manage the software installation, system maintenance and repair, selection, configuration, recommendation, data processing or other systems and facilities, and to act as directors, managers, consultants, technical advisers or administrators of any such corporation, company, firm, person, public body, organization or authority in all parts of the world (c) To carry out research and development work, investigation and experimental work and the application and use of technologies, technical innovations or other processes in relation to all or any of the businesses of the Company especially in the field of microelectronics for business, commerce, trade industry and governments or local authority in all their branches.

2 (d) To develop and turn to account any land acquired by or in which the Company is interested, and in particular by laying out and preparing the same for building purposes, constructing, altering pulling down, decorating, maintaining, furnishing, fitting up and improving building, and by planting, paving, draining, farming, cultivating, letting on building lease or building agreement, and by advancing money to and entering into contract and arrangements of all kinds with builders, tenants and others. (e) To purchase or otherwise acquire for investment lands, houses, theaters, building, plantations, and immovable property of any description or any interest therein. (f) To purchase, establish and carry on business as general merchants, manufacturers, importers, exporters, commissions agents, del credere agents, removers, packers, storers, storekeepers, factors and manufacturers of and dealers in foreign and local produce, manufactured goods, material and general merchandise and to import, buy, prepare, manufacture, render marketable, sell, barter, exchange, pledge, charge, make advances on and otherwise deal in or turn to account, produce goods, materials and merchandise generally either in their prepared, manufactured or raw state and to undertake, carry on and execute all kinds of commercial trading and other manufacturing operations and all business whether wholesale or retail usually carried on by Eastern merchants. (g) To buy, sell manufacture, repair, alter, improve, exchange, let out on hire, import, export and deal in all works, plant, machinery, tools, utensils, appliances, apparatus, products, materials, substances, articles and things capable of being used in any business which this company is competent to carry on or required by any customers of or persons having dealings with the company or commonly dealt in by persons engaged in any such business or which may seem capable of being profitably dealt with in connection therewith and to manufacture, experiment with, render marketable and deal in all products of residual and by-products incidental to or obtained in any of the businesses carried on by the company. (h) To purchase or otherwise acquire and hold and charter ships and vessels of all kinds. (i) To purchase take on lease or in exchange hire or otherwise acquire any real or personal property licences rights or privileges which the company may think necessary or convenient for the purposes of its business and to construct, maintain and alter any buildings or works necessary or convenient for the purposes of the company. (j) To purchase or otherwise acquire, issue, re-issue, sell and place shares, stocks, bonds, debentures and securities of all kinds. (k) To apply for purchase or otherwise acquire any patents, brevets d'invention, licences concessions and the like, conferring any exclusive or non-exclusive or limited right to use or any secret or other information as to any invention or preparation which may seem capable of being used for any of the purposes of the company or the acquisition of which may seem calculated directly or indirectly to benefit the company and to use, exercise, develop or grant licences in respect of or otherwise turn to account the property rights or information so acquired.

3 (l) To erect, construct, lay down, enlarge, alter and maintain any roads, railways, tramways, sidings, bridges, reservoirs, ship building yards, shops, stores, factories, building works, plant and machinery necessary or convenient for the company's business, and to contribute to or subsidise the erection, construction and maintenance of any of the above. (m) To borrow or raise or secure the payment of money for the purposes of or in connection with the company's business, and for the purposes of or in connection with the borrowing or raising of money of by the company to become a member of any building society. (n) To mortgage and charge the undertaking of all or any of the real and personal property and assets, present or future, and all or any of the uncalled capital for the time being of the company, and to issue at par or at a premium or discount, and for such consideration and with and subject to such rights, powers, privileges and conditions as may be thought fit, debentures or debenture stock, either permanent or redeemable or repayable, and collaterally or further to secure any securities of the company by a trust deed or other assurance. (o) To issue and deposit any securities which the company has power to issue by way of mortgage to secure any sum less than the nominal amount of such securities, and also by way of security for the performance of any contracts or obligation os the company or of its customers or other persons or corporations having dealings with the Company, or in whose business or undertakings the company is interested, whether directly or indirectly. (p) To guarantee the obligations and contracts of customers and others. (q) To make advances to customers and others with or without security, and upon such terms as the Company may approve. (r) To grant pensions, allowances, gratuities and bonuses to officers, ex-officers, employees or ex-employees of the company or its predecessors in business or the dependants or connections of such persons, to establish and maintain or concur in establishing and maintaining trusts, funds or schemes (whether contributory or noncontributory) with a view to provide pensions or other benefits for any such persons as aforesaid, their dependants or connections, and to support or subscribe to any charitable funds or institutions, the support of which may in the opinion of the directors, be calculated directly or indirectly to benefit the company or its employees, and to institute and maintain any other establishment or profit-sharing scheme calculated to advance the interests of company or its officers or employees. (s) To draw, make accept, endorse, negotiate, discount and execute promissory notes, bills of exchange and other negotiable instruments. (t) To invest and deal with the moneys of the company not immediately required for the purposes of its business in or upon such investments or securities and in such manner as may from time to time be determined.

4 (u) To pay for any property or rights acquired by the company, either in cash or fully or partly paid-up shares, with or without preferred or deferred or special rights or restrictions in respect of dividend, repayment or capital, voting or otherwise, or by any securities which the company has power to issue, or partly in one mode and partly in another, and generally on such terms as the company may determine. (v) To accept payment for any property or rights sold or otherwise disposed of or dealt with by the company, either in cash, by installments or otherwise, or in fully or partly paid-up shares of any company or corporation, with or without deferred or preferred or special rights or restriction in respect of dividend, repayment of capital, voting or otherwise, or in debentures or mortgage debentures or denture stock, mortgages, or other securities of any company or corporation, or partly in one mode and partly in another, and generally on such terms as the company may determine, and to hold, dispose of any shares, stocks or securities so acquired. (w) To enter into any partnership or joint-purse arrangement or arrangement for sharing profits, union of interests or co-operation with any company, firm or person carrying on or proposing to carry on any business within the objects of this company, and to acquire and hold, sell or dispose of shares, stock or securities of any such company, and to guarantee the contracts or liabilities of, or the payment of the dividends, interests or capital of any shares, stocks or securities of and to subsidize or otherwise assist any such company. (x) To make donations for patriotic or for charitable purposes. (y) To transact any lawful business in aid of the Republic of Singapore in the prosecution of any war in which the Republic of Singapore is engaged. (z) To establish or promote or concur in establishing or promoting any other company whose objects shall include the acquisition and taking over of all or any of the assets and liabilities of this company or the promotion of which shall be in any manner calculated to advance directly or indirectly the objects or interests of this company, and to acquire and hold or dispose of shares, stocks or securities of and guarantee the payment of the dividends, interest or capital of any shares, stock or securities issued by or any other obligations of any such company. (aa) To purchase or otherwise acquire and undertake all or any part of the business, property, assets, liabilities and transactions of any person, firm or company carrying on any business which this company is authorized to carry on. (bb) To sell, improve, manage, develop, turn to account, exchange, let on rent, royalty, share of profits or otherwise, grant licenses, easements and other rights in or over, and in any other manner deal with or dispose of the undertaking and all or any of the property and assets for the time being of the company for such consideration as the company may think fit. (cc) To amalgamate with any other company whose objects are or include objects similar to those of this company, whether by sale or purchase (for fully or partly paid-up shares or otherwise) of all or a controlling interest in the shares or stock of this or any such other company as

5 aforesaid, or by partnership, or any arrangement of the nature of partnership, or in any other manner. () To distribute among the members in specie any property of the company, or any proceeds of sale or disposal of any property of the company, but so that no distribution amounting to a reduction of capital be made except with the sanction (if any) for the time being required by law. (ee) To do all or any of the above things in any part of the world, and either as principals, agents, trustees, contractors or otherwise, and either alone or in conjunction with others, and either by or through agents, trustees, sub-contractors or otherwise. (ff) To do all such things as are incidental or conducive to the above objects or any of them. AND IT IS HEREBY declared that the word "company", save when used in reference to this company in this clause shall be deemed to include any partnership or other body of persons, whether incorporated or not incorporated, whether domiciled in Singapore or elsewhere. None of the sub- clauses of this clause or the objects therein specified or the powers thereby conferred shall be deemed subsidiary or auxiliary merely to the objects mentioned in the first sub-clause of this clause shall, except where otherwise expressed in such clause, be independent main objects and shall be in no wise limited or restricted by reference to or interference from the terms of any other sub-clause or the name of the company, but the company shall have full power to exercise all or any of the posers conferred by any part of this clause in any part of the world and notwithstanding that the business undertaking, property or act proposed to be transacted, acquired dealt with or performed does not fall within the objects of the first sub-clause of this clause. 4. The liability of the members is limited. 5. The share capital of the company is $100,000.00 divided into 100,000 shares of $1.00 each. The shares in the original or any increased capital may be divided into several classes, and there may be attached thereto respectively any preferential, deferred or other special rights, privileges, conditions or restrictions as to dividends, capital, voting or otherwise.

6 We, the several persons whose names, addresses and description are hereunto subscribed, are desirous of being formed into a Company in pursuance of this Memorandum of Association, and we respectively agree to take the number of shares in the Capital of the Company set opposite to our respective names.
-------------------------------------------------------------------------------Number of Shares Names, Addresses and Descriptions of Subscribers taken by each Subscriber -------------------------------------------------------------------------------FRANCK BERNARD ALAIN CRESPIN 48A Toh Tuck Road #02-03 Signature Park Singapore 596740 /s/ Frank Bernard Alain Crespin AREA MANAGER FORTY-NINE THOUSAND NINE HUNDRED AND NINETY-NINE

For and on behalf of ELVA INC. of 222 Lakeview Ave., Suite 415 West Palm Beach, Florida United States of America pursuant to a Power of Attorney dated 7 September 2000 FRANCK BERNARD ALAIN CRESPIN 48A Toh Tuck Road #02-03 Signature Park Singapore 596740 /s/ Frank Bernard Alain Crespin AREA MANAGER -------------------------------------------------------------------------------Total number of shares taken... FIFTY-THOUSAND -------------------------------------------------------------------------------Dated this 6th day of October, 2000 Witness to the above signatures: /s/ Toh Kian Leong Toh Kian Leong Approved Company Auditor 15 Beach Road #03-10 Beach Centre Singapore 189677 ONE

THE COMPANIES ACT, CAP.50 COMPANY LIMITED BY SHARES ARTICLES OF ASSOCIATION OF ELVA ASIA PTE LTD (Incorporated in the Republic of Singapore) TABLE "A" EXCLUDED 1. The regulations in Table "A" in the Fourth Schedule to the Companies Act, Cap.50, shall not apply to the Company, except so far as the same are repeated or contained in these articles. INTERPRETATION 2. In these articles, unless the subject or context otherwise requires, the words standing in the first column of the table next hereinafter contained shall bear the ;meanings set opposite to them respectively in the second column thereof:The company The Act These : : ELVA ASIA PTE LTD. The Companies Act, Cap. 50.

articles : These articles of association as originally framed or as altered from time to time by special resolutions. : : : : The directors for the time being of the company. The registered office for the time being of the company. The common seal of the company. Any person appointed to perform the duties of a secretary of the company.

The directors The office The seal The secretary

Words importing the singular number only shall include the plural number, and vice versa. Words importing the masculine gender only shall include the feminine gender; and Words importing persons shall include corporations. Expressions referring to writing shall, unless the contrary intention appears, to be construed as including references to printing, lithography, photograph and other modes of representing or reproducing words in visible form.

8 Words or expressions contained in these Regulations shall be interpreted in accordance with the provisions of the Interpretation Act, Cap. 1 and the Act as in force at the date at which these Regulations become binding on the company. PRIVATE COMPANY 3. The company is a private company and accordingly: (a) The right to transfer shares in the company shall be restricted in manner hereinafter appearing. (b) The number of members of the company (counting joint holders of shares as one person and not counting any person in the employment of the company or of its subsidiary or any person who while previously in the employment of the company or of its subsidiary was and thereafter has continued to be a member of the company) shall be limited to fifty. (c) No invitation shall be made to the public to subscribe for any shares or debentures of the company. (d) No invitation shall be made to the public to deposit money with the company for fixed period or payable at call, whether bearing or not bearing interest. SHARE CAPITAL AND VARIATION OF RIGHTS 4. Without prejudice to any special rights previously conferred on the holders of any existing shares or class of shares but subject to the Act, shares in the company may be issued by the directors and any such share may be issued with such preferred, deferred, or other special rights or such restrictions, whether in regard to dividend, voting, return of capital, or otherwise, as the directors, subject to any ordinary resolution of the company, determine. 5. Subject to the Act, any preference shares may, with the sanction of an ordinary resolution, be issued on the terms that they are, or at the option of the company are liable, to be redeemed. 6. If at any time the share capital is divided into different classes of shares, the rights attached to any class (unless otherwise provided by the terms of issue of the shares of that class) may whether or not the company is being wound up , be varied with the consent in writing of the holders of three-fourths of the issued shares of that class, or with the sanction of a special resolution passed at a separate general meeting of the holders of the shares of the class. To every such separate general meeting the provisions of these articles relating to general meetings shall mutatis mutandis apply, but so that the necessary quorum shall be two persons at least holding or representing by proxy one-third of the issued shares of the class and that any holder of shares of the class present in person or by proxy may demand a poll. To every

9 such special resolution the provisions of Section 184 of the Act shall with such adaptations as are necessary apply. 7. The rights conferred upon the holders of the shares of any class issued with preferred or other rights shall, unless otherwise expressly provided by the terms of issue of the shares of that class, be deemed to be varied by the creation or issue of further shares ranking equally therewith. 8. The company may exercise the powers of paying commissions conferred by the Act, provided that the rate per cent or the amount of the commission paid or agreed to be paid shall be disclosed in the manner required by the Act and the commission shall not exceed the rate of 10 per cent of the price at which the shares in respect whereof the same is paid are issued or an amount equal to 10 per cent of that price ( as the case may be). Such commission may be satisfied by the payment of cash or the allotment of fully or partly paid shares or partly in one way and partly in the other. The company may also on any issue of shares pay such brokerage as may be lawful. 9. Except as required by law, no person shall be recognized by the company as holding any share upon any trust, and the company shall not be bound by or be compelled in any way to recognize (even when having notice thereof) any equitable, contingent, future, or partial interest in any share or unit of a share or (except only as by these articles or by law otherwise provided) any other rights in respect of any share except an absolute right to the entirety thereof in the registered holder. 10. Every person whose name is entered as a member in the register of members shall be entitled without payment to receive a certificate under the seal of the company in accordance with the Act but in respect of a share or shares held jointly by several persons in the company shall not be bound to issue more than one certificate, and delivery of certificate for a share to one of several joint holders shall be sufficient delivery to all such holders. LIEN 11. The company shall have a first and paramount lien on every share (not being a fully paid share) for all money (whether presently payable or not) called or payable at a fixed time in respect of that share, and the company shall also have a first and paramount lien on all shares (other than fully paid shares) registered in the name of a single person for all money presently payable by him or his estate to the company; but the directors may at any time declare any share to be wholly or in part exempt from the provision of this article. The company's lien, if any, on a share shall extend to all dividends payable thereof. 12. The company may sell, ins such manner as the directors thin fit, any shares on which the company has a lien, but no sale shall be made unless a sum in respect of which the lien exists is presently payable, nor until the expiration of fourteen days after a notice in writing, stating and demanding payment of such part of the amount in respect of which the lien exists as is presently payable, has been given to the registered holder for the time being of the share, or the person entitled thereto by reason of his death or bankruptcy.

10 13. To give effect to any such sale the directors may authorize some person to transfer the shares sold to the purchaser thereof. The purchaser shall be registered as the holder of the shares comprised in any such transfer, and he shall not be bound to see to the application of the purchase money, nor shall his title to the shares be affected by any irregularity or invalidity in the proceedings in reference to the sale. 14. The proceeds of the sale shall be received by the company and applied in payment of such part of the amount in respect of which the lien exists as is presently payable, and the residue, if any, shall (subject to a like lien for sums not presently payable as existed upon the shares before the sale) be paid to the person entitled to the shares at the date of the sale. CALLS ON SHARES 15. The directors may from time to time make calls upon the members in respect of any money unpaid on their shares (whether on account of the nominal value of the shares or by way of premium) and not by the conditions of allotment thereof made payable at fixed times, provided that no call shall exceed one-fourth of the nominal value of the share or be payable at less than one month from the date fixed for the payment of the last preceding call, and each member shall (subject to receiving at least fourteen days' notice specifying the time or times and place of payment) pay to the company at the time or times and place so specified the amount called on his shares. A call may be revoked or postponed as the directors may determine. 16. A call shall be deemed to have been made at the time when the resolution of the directors authorizing the call was passed and my be required to be paid by installments. 17. The joint holder of a share shall be jointly and severally liable to pay all calls in respect thereof. 18. If a sum called in respect of a share is not paid before or on the day appointed for payment thereof, the person from whom the sum is due shall pay interest on the sum from the day appointed for payment thereof to the time of actual payment at such rate not exceeding 10 per cent per annum as the directors may determine, but the directors shall be at liberty to waive payment of that interest wholly or in part. 19. Any sum which by the terms of issue of a share becomes payable on allotment or at any fixed dated, whether on account of the nominal value of the shares or by way of premium, shall for the purposes of these articles be deemed to be a call duly made and payable on the date on which by the terms of issue the same becomes payable, and in case of non-payment all the relevant provisions of these articles as to payment of interest and expenses, forfeiture, or otherwise shall apply as if the sum had become payable by virtue of a call duly made and notified. 20. The directors may, on the issue of share, differentiate between the holders as to the amount of calls to be paid and the times of payment.

11 21. The directors may, if they think fit, receive from any member willing to advance the same all or any part of the money uncalled and unpaid upon any shares held by him, and upon all or any part of the money so advanced may (until the same would, but for the advance, become payable) pay interest at such rate not exceeding (unless the company in general meeting shall otherwise direct) 10 per cent per annum as may be agreed upon between the directors and the members paying the sum in advance. TRANSFER OF SHARES 22. Subject to these Articles, any member may transfer all or any of his shares by an instrument in writing in any ususal or common form or in any other form which the director may approve. The instrument shall be executed by or on behalf of the transferor and the transferor shall remain the holder of the shares transferred until the transfer is registered and the name of the transferee is entered in the register of members in respect thereof. 23. The instrument of transfer must be left for registration at the registered office of the company together with such fee not exceeding $1.00 as the directors from time to time may require accompanied by the certificate of the shares to which it relates and such other evidence as the directors may reasonably require to show the right of the transferor to make the transfer, and thereupon the company shall subject to the posers vested in the directors by these articles register the transferee as shareholder and retain the instrument of transfer. 24. The directors may decline to register any transfer of shares not being fully paid shares to a person of whom they do not approve and my also decline to register any transfer of shares on which the company has a lien. 25. The registration of transfers may be suspended at such times and for such periods as the directors may from time to time determine not exceeding in the whole thirty days in any year. TRANSMISSION OF SHARES 26. In case of the death of a member the survivor or survivors where the deceased was a joint holder, and the legal personal representatives of the deceased where he was a sole holder, shall be the only persons recognized by the company as having any title to his interest in the shares; but nothing herein contained shall release the estate of a deceased joint holder from any liability in respect of any share which had ben jointly held by him with other persons. 27. Any person becoming entitled to a share in consequence of the death or bankruptcy of a member may, upon such evidence being produced as may from time to time properly be required by the directors and subject as hereinafter provided, elect either to be registered himself as holder of the share or to have some person nominated by him registered as the transferee thereof, but the directors shall, in either case, have the same right to decline or suspend registration as they would have had in the case of a transfer of the share by that member before his death or bankruptcy.

12 28. If the person so becoming entitled elects to be registered himself, he shall, deliver or send to the company a notice in writing signed by him stating that he so elects. If he elects to have another person registered he shall testify his election by executing to that person a transfer of the share. All the limitations, restrictions, and provisions of these articles relating to the right to transfer and the registration of transfers of shares shall be applicable to any such notice or transfer as aforesaid as if the death or bankruptcy of the member had not occurred and the notice or transfer were signed by that member. 29. Where the registered holder of any share dies or becomes bankrupt his personal representative or the assignee of his estate, as the case may be, shall, upon the production of such evidence as may from time to time be properly required by the directors in that behalf, be entitled to the same dividends and other advantages, and to the same rights (whether in relation to meetings of the company, or to voting, or otherwise), as the registered holder would have been entitled to if he had not died or become bankrupt; and where two or more persons are jointly entitled to any share in consequence of the death of the registered holder they shall, for the purposes of these articles, be deemed to be joint holders of the share. FORFEITURE OF SHARES 30. If a member fails to pay any call or instalment of a call on the day appointed for payment thereof, the directors may, at any time thereafter during such time as any part of the call or instalment remains unpaid, serve a notice on him requiring payment of so much of the call or instalment as is unpaid, together with any interest which may have accrued. 31. The notice shall name a further day (not earlier than the expiration of fourteen days from the date of service of the notice) on or before which the payment required by the notice is to be made, and shall state that in the event of non-payment at or before the time appointed the shares in respect of which the call was made will be liable to be forfeited. 32. If the requirements of any such notice as aforesaid are not complied with, any share in respect of which the notice has been given may at any time thereafter, before the payment required by the notice has been made, be forfeited by a resolution of the directors to that effect. Such for feature shall include all dividends declared in respect of the forfeited shares and not actually paid before the forfeiture. 33. A forfeited share may be sold or otherwise dispose of on such terms and in such manner as the directors think fit, and at any time before a sale or disposition the forfeiture may be cancelled on such terms as the directors think fit. 34. A person whose shares have been forfeited shall cease to be a member in respect of the forfeited shares, but shall, notwithstanding, remain liable to pay to the company all money which, at the date of forfeiture, was payable by him to the company in respect of the shares (together with interest at the rate of 10 per cent per annum from the date of forfeiture on the money for the time being unpaid if the directors think fit to enforce payment of such interest)

13 but his liability shall cease fi and when the company receives payment in full of all such money in respect of the shares. 35. A statutory declaration in writing that the declarant is a director or the secretary of the company, and that a share in the company has been duly forfeited on a date stated in the declaration, shall be conclusive evidence of the facts therein stated as against all persons claiming to be entitled to the share. 36. The company may receive the consideration, if any, given for a forfeited share on any sale or disposition thereof and may execute a transfer of the share in favor of the person to whom the share is sold or disposed of and he shall thereupon be registered as the holder of the share, and shall not be bound to see to the application of the purchase money, if any, or shall his title to the share be affected by any irregularity or invalidity in the proceedings in reference to the forfeiture, sale, or disposal of the share. 37. The provisions of these articles as to forfeiture shall apply in the case of non-payment of any sum which, by the terms of issue of a share, becomes payable at a fixed time, whether on account of the nominal value of the share or by way of premium, as if the same had been payable by virtue of a call duly made and notified. CONVERSION OF SHARES INTO STOCK 38. The company may be ordinary resolution passed at a general meeting convert any paid-up shares into stock and reconvert any stock into paid-up shares of any denomination. 39. The holders of stock may transfer the same or any part thereof in the same manner and subject to the same regulations as and subject to which the share from which the stock arose might previously to conversion have been transferred or as near thereto as circumstances admit; but the directors may from time to time fix the minimum amount of stock transferable and restrict or forbid the transfer of fractions of that minimum, but the minimum shall not exceed the nominal amount of the shares from which the stock arose. 40. The holders of stock shall according to the amount of stock held by them have the same rights, privileges and advantages as regards dividends voting at meetings of the company and other matters as if they held the shares from which the stock arose, but no such privilege or advantage (except participation in the dividends and profits of the company and in the assets on winding up) shall be conferred by any such aliquot part of stock which would not if existing in shares have conferred that privilege or advantage. 41. Such of the articles of the company as are applicable to paid-up shares shall apply to stock, and the words "share" and "shareholders" tiering shall include "stock" and "stockholders". ALTERATION OF CAPITAL 42. The company may from time to time by ordinary resolution:-

14 (a) increase the share capital by such sum to be divided into shares of such amount as the resolution shall prescribe. (b) consolidate and divide all or any of its share capital into shares of larger amount than its existing shares. (c) subdivide its shares or any of them into shares of smaller amount than is fixed by the memorandum; so however that in the sub-division the proportion between the amount paid and the amount (if any) unpaid on each reduced share shall be the same as it was in the case of the share form which the reduced share shall be the same as it was in the case of the share from which the reduced share is derived; (d) cancel shares which at the date of the passing of the resolution in that behalf have not been taken or agreed to be taken by any person or which have been forfeited and diminish the amount of its share capital by the amount of the shares so cancelled. 43. Subject to the provisions of the Act, the shares shall be under the control of the Directors who may issue, allot, place under option or otherwise dispose of the same to such persons or such terms and conditions and either at a premium or at par or (subject to the provisions of the Act) at a discount and at such times as the Directors think fit and with full power to give to any person the right to call for the allotment of any shares either at par or at a premium or at a discount for such time and for such consideration as the Directors may see fit. 44. The company may by special resolution reduce its share capital, any capital redemption reserve fund or any share premium account in any manner and with, and subject to, any incident authorized, and consent required by law. GENERAL MEETINGS 45. An annual general meeting of the company shall be held in accordance with the provisions of the Act. All general meeting other than the annual general meetings shall be called extraordinary general meetings. 46. Any director may whenever he thinks fit convene an extraordinary general meeting, and extraordinary general meetings shall be convened on such requisition or in default may be convened by such requisitionst as provided by the Act. 47. Subject to the provisions of the Act relating to special resolutions and agreements for shorter notice, fourteen days' notice at the least (exclusive of the day on which the notice is served or deemed to be served, but inclusive of the day for which notice is given) specifying the place the day and the hour of meeting and in case of special business the general nature of that business shall be given to such persons as are entitled to receive such notices from the company.

15 48. All business shall be special that is transacted at an extraordinary general meeting, and also all that is transacted at an annual general meeting, with the exception of declaring a dividend, the consideration of the accounts, balance-sheets, and the report of the directors and auditors, the election of directors in the place of those retiring, and the appointment and fixing of the remuneration of the auditors. PROCEEDINGS AT GENERAL MEETINGS 49. Not business shall be transacted at any general meetings unless a quorum of members is present at the time when the meeting proceeds to business. Save as herein otherwise provided, tow members present in person shall be a quorum. For the purpose of this article "member" includes a person attending as a proxy or as representing a corporation which is a member. 50. If within half an hour from the time appointed for the meeting a quorum is not present, the meeting, if convened upon the requisition of members, shall be dissolved; in any other case it shall stand adjourned to the same day in the next week 51. The chairman, if any, of the board of directors shall preside as chairman at every general meeting of the company, or if there is no such chairman, or if he is not present within fifteen minutes after the time appointed for the holding of the meeting or is unwilling to act, the members present shall elect one of their number to be chairman of the meeting. 52. The chairman may, with the consent of any meeting at which a quorum is present (and shall if so directed by the meeting, adjourn the meeting from time to time and from place to place, but no business shall be transacted any adjourned meeting other than the business left unfinished at the meeting from which the adjournment took place. When a meeting is adjourned for thirty days or more, notice of the adjourned meeting shall be given as in the case of an original meeting. Save as aforesaid it shall not be necessary to give any notice of an adjournment or of the business to be transacted at an adjourned meeting. 53. At any general meeting a resolution put to the vote of the meeting shall be decided on a show of hands unless a pol if (before or on the declaration of the result of the show of hands) demanded(a) By the chairman; (b) by at least two members present in person or by proxy; (c) by any member or members present in person or by proxy and representing not less than one-tenth of the total voting rights of all the members having the right to vote at the meeting; or (d) by a member or members holding shares in the company conferring a right to vote at the meeting being shares on which an aggregate sum has been paid up equal to not less than one-tenth of the total sum paid up on all the shares conferring that right.

16 Unless a poll is so demanded a declaration by the chairman that a resolution has on a show of hands been carried or carried unanimously, or by a particular majority, or lost, and an entry to that effect in the book containing the minutes of the proceedings of the company shall be conclusive evidence of the fact without proof of the number or proportion of the votes recorded in favor of or against the resolution. The demand for a poll may be withdrawn. 54. If a poll is duly demanded it shall be taken in such manner and either at once or after an interval or adjournment or otherwise as the chairman directs, and the result of the poll shall be the resolution of the meeting at which the poll was demanded, but a poll demanded on the election of a chairman or a question of adjournment shall be taken forthwith. 55. In the case of an equality of votes, whether on a show of hands or on a poll, the chairman of the meeting at which the show of hands takes place or at which the poll is demanded shall be entitled to a second or casting vote. 56. Subject to any rights or restrictions for the time being attached to any class or classes of shares, at meetings of members or classes of members each member entitled to vote may vote in person or by proxy or by attorney and on a show of hands every person present who is member or a representative of a member shall have one vote, and on a poll every member present in person or by proxy or by attorney or other duly authorized representative shall have one vote for each share he holds. 57. In the case of joint holders the vote of the senior who tenders a vote, whether in person or by proxy, shall be accepted to the exclusion of the votes of the other joint holders; and for this purpose seniority shall be determined by the order in which the names stand in the register of members. 58. A member who is of unsound mind or whose person or estate is liable to be dealt with in any way under the law relating to mental disorder may vote, whether on a show of hands or on a poll, by his committee or by such other person as properly has the management of his estate, and any such committee or other person may vote by proxy or attorney. 59. No member shall be entitled to vote at any general meeting unless all calls or other sums presently payable by him in respect of share in the company have been paid. 60. No objection shall be raised to the qualification of any voter except at the meeting or adjourned meeting at which the vote objected to is given or tendered, and every vote not disallowed at such meeting shall be valid for all purposes. Any such objection made in due time shall be referred to the chairman of the meeting, whose decision shall be final and conclusive. 61. The instrument appointing a proxy shall be in writing (in the common or usual form) under the hand of the appointer or of his attorney duly authorized in writing or, if the appointer is

17 a corporation, either under seal or under the hand of an officer or attorney duly authorized. A proxy may but need not be a member of the company. The instrument appointing a proxy shall be deemed to confer authority to demand or join in demanding a poll. 62. Where it is desired to afford members an opportunity of voting for or against a resolution the instrument appointing a proxy shall be in the following form or a form as near thereto as circumstances admit: ELVA ASIA PTE LTD I/We, ______________ of _______________ being a member/members of the above-named company, hereby appoint _________________of ____________________, or failing him, _____ _________________of_______________, as my/our proxy to vote for me/us on my/our behalf at the annual or extraordinary (as the case may be) general meeting of the company, to be held on the ____________ day of _____________ 20__ and at any adjournment thereof. Signed this ____ day of ________________ 20__ This form is to be used * in favour/against the resolution *Strike out whichever is not desired. [Unless otherwise instructed, the proxy may vote as he thinks fit.] 63. The instrument appointing a proxy and the power of attorney or other authority, if any, under which it is signed or a notarially certified copy of that power or authority shall be deposited at the registered office of the company, or at such other place within Singapore as is specified for that purpose in the notice convening the meeting, not less than forty-eight hours before the time for holding the meeting or adjourned meeting at which the person named in the instrument proposed to vote, or, in the case of a poll, not less than twenty-four hours before the time appointed for the taking of the poll, and in default the instrument of proxy shall not be treated as valid. 64. A vote given in accordance with the terms of an instrument of proxy or attorney shall be valid notwithstanding the previous death or unsoundness of mind of the principal or revocation of the instrument or of the authority under which the instrument was executed, or the transfer of the share in respect of which the instrument is given, if no intimation in writing of such death, unsoundness of mind, revocation, or transfer as aforesaid has been received by the Company at the registered office before the commencement of the meeting or adjourned meeting at which the instrument is used. DIRECTORS: APPOINTMENT, ETC. 65. The number of the directors shall be not less than two and until otherwise determined by a General Meeting, not more than seven. The first Directors shall be Messrs Franck Bernard Alain Crespin and Vincent Cedrec Conot.

18 66. At the first annual general meeting of the company all the directors shall retire from office and at the annual general meeting in every subsequent year one-third of the directors for the time being, or, if their number is not three or multiple of three, than the number nearest one- third, shall retire form office. A retiring director shall be eligible for re-election. 67. The directors to retire in every year shall be those who have been longest in office since their last election, but as between person who became directors on the same day those to retire shall (unless they otherwise agree among themselves) be determined by lot. 68. The company at the meeting at which a director so retires may fill the vacated office by electing a person thereto, and in default the retiring director shall if offering himself for re- election and not being disqualified under the Act from holding office as a director be deemed to have been re-elected, unless at that meeting it is expressly resolved not to fill the vacated office unless a resolution for the re-election of that director is put to the meeting and lost. 69. The company may from time to time by ordinary resolution passed at a general meeting increase or reduce the number of directors, and may also determine in what rotation the increased or reduced number is to out of office. 70. The directors shall have power at any time, and from time to time, to appoint any person to be a director, either to fill a casual vacancy or as an addition to the existing directors, but so that the total number of directors shall not at any time exceed the number fixed in accordance with these articles. Any director so appointed shall hold office only until the next following annual general meeting, and shall then be eligible for re-election but shall not be taken into account in determining the directors who are to retire by rotation at that meeting. 71. The company may by ordinary resolution remove any director before the expiration of his period of office, and may by an ordinary resolution appoint another person in his stead; the person so appointed shall be subject to retirement at the same time as if he had become a director on the day on which the director in whose place he is appointed was last elected a director. 72. The enumeration of the directors shall from time to time be determined by the company in general meeting. That remuneration shall be deemed to accrue from day to day. The directors may also be paid all traveling, hotel, and other expenses properly incurred by them in attending and returning from meetings of the directors or any committee of the directors or general meetings of the company or in connection with the business of the company. 73. Unless otherwise determined by a general meeting, a director shall not be required to hold any share qualification in the company. 74. The office of director shall become vacant if the director(a) ceases to be a director by virtue of the Act; (b) becomes bankrupt or makes any arrangement or composition with his creditors generally;

19 (c) becomes prohibited from being a director by reason of any order made under the Act; (d) becomes of unsound mind or a person whose person or estate is liable to be dealt with in any way under the law relating to mental disorder; (e) resigns his office by notice in writing to the company; (f) for mor than six months is absent without permission of the directors from meetings of the directors held during that period; (g) without the consent of the company is general meeting holds any other office of profit under the company except that of managing director or manager; or (h) is directly or indirectly interested in any contract or proposed contract with the company and fails to declare the nature of his interest in manner required by the Act. POWERS AND DUTIES OF DIRECTORS 75. The business of the company shall be managed by the directors who may pay all expenses incurred in promoting and registering the company, and may exercise all such powers of the company as are not, by the Act or by these articles, required to be exercised by the company in general meeting, subject, nevertheless, to any of these articles, to the provisions of the Act, and to such articles, being not inconsistent with the aforesaid articles or provisions, as may be prescribed by the company in general meeting; but no article made by the company in general meeting shall invalidate any prior act of the directors which would have been valid if that article had not been made. 76. The directors may exercise all the powers of the company to borrow money and to mortgage or charge its undertaking, property, and uncalled capital, or any part thereof, and to issue debentures and other securities whether outright or as security for any debt liability, or obligation of the company or of any third party. 77. The directors may exercise all the powers of the company in relation to any official seal for the use outside Singapore and in relation to branch registers. 78. The directors may from time to time by power of attorney appoint any corporation, firm, or person or body of persons, whether nominated directly or indirectly by the directors, to be the attorney or attorneys of the company for such purposes and with such powers, authorities, and discretions (not exceeding those vested in or exercisable by the director under these articles) and for such period and subject to such conditions as they may think fit, and any such powers of attorney may contain such provisions for the protection and convenience of persons dealing with any such attorney as the directors may think fit and may also authorize any such attorney to delegate all or any of the powers, authorities, and discretions vested in him.

20 79. All cheques, promissory notes, drafts, bills of exchange, and other negotiable instruments, and all receipts for money paid to the company, shall be signed, drawn, accepted, endorsed, or otherwise executed, as the case may be, by any tow directors or in such other manner as the directors from time to time determine. 80. The directors shall cause minutes to be made(a) of all appointments of officers; (b) of names of directors present at all meetings of the company and of the directors; and (c) of all proceedings at all meetings of the company and of the directors. Such minutes shall be signed by the chairman of the meeting at which the proceedings were held or by the chairman of the next succeeding meeting. PROCEEDINGS OF DIRECTORS 81. The directors may meet together for the despatch of business, adjourn or otherwise regulate their meetings as they think fit. A director may at any time and the secretary shall on the requisition of a director summon a meeting of the directors. 82. Subject to these Articles, questions arising at any meeting of directors shall be decided by a majority of votes and a determination by a majority of directors shall for all purposes be deemed a determination of the directors. In case of an equality of votes, the chairman of the meeting shall have a second or casting vote. 83. A director shall not vote in respect of any contract or proposed contract with the company in which he is interested, or any matter arising thereout, and if he does so vote his vote shall not be counted. 84. Any director with the approval of the directors may appoint any person whether a member of the company or not, to be an alternate or substitute director in his place during such period as he thinks fit. Any person while he so holds office as an alternate or substitute director shall be entitled to notice of meetings of the directors and to attend and vote thereat accordingly, and to exercise all powers of the appointer in his place. An alternate or substitute director shall ipso facto vacate office if the appointer vacates office as a director or removes the appointee from office. Any appointment or removal under this article shall be effected by notice in writing under the hand of the director making the same. 85. The quorum necessary for the transaction of the business of the directors may be fixed by the directors and unless so fixed shall be two. 86. The continuing directors may act notwithstanding any vacancy in their body, but if and so long as their number is reduced below the number fixed by or pursuant to the articles of the

21 company as the necessary quorum of directors, the continuing directors or director may act for the purpose of increasing the number of directors to that number or of summoning a general meeting of the company, but for no other purpose. 87. The directors may elect a chairman of their meetings and determine the period for which he is to hold office; but if no such chairman is elected, or if at any meeting the chairman is not present within ten minutes after the time appointed for holding the meeting, the directors present may choose one of their number to be chairman of the meeting. 88. The directors may delegate any of their powers to committees consisting of such member or members of their body as they think fit; any committee so formed shall in the exercise of the powers so delegated conform to any regulations that may be imposed on it by the directors. 89. A committee may elect a chairman of its meetings, if no such chairman is elected, or if at any meeting the chairman is not present within ten minutes after the time appointed for holding the meeting, the members present may choose one of their number to be chairman of the meeting. 90. A committee may meet and adjourn as it thinks proper. Questions arising at any meeting shall be determined by a majority of votes of the members present, and in the case of an equality of votes the chairman shall have a second or casting vote. 91. All acts done by any meeting of directors or of a committee of directors or by any person acting as a director shall, notwithstanding that it is afterwards discovered that there was some defect in the appointment of any such director or person acting as aforesaid, or that they or any of them were disqualified, be as valid as if every such person had been duly appointed and was qualified to be a director. 92. A resolution in writing signed or approved by letter, facsimile, electronic mail, telex or telegram by a majority of the Directors of the Company for the time being, shall be as valid and effectual as if it had been passed at a Meeting of the Directors duly convened and held. Any such resolution may consist of several documents in like form, each signed by one or more directors. MANAGING DIRECTOR 93. The director may form time to time appoint one or more of their body to the office of managing director for such period and on such terms as they think fit and, subject to the terms of any agreement entered into in any particular case, may revoke any such retirement by rotation or be taken into account in determining the rotation of retirement of directors, but his appointment shall be automatically determined if he ceases from any cause to be a director. 94. A managing director shall, subject to the terms of any agreement entered into in any particular case, receive such remuneration (whether by way of salary, commission, or participation in profits, or partly in one way and partly in another) as the directors may determine.

22 95. The directors may entrust to and confer upon a managing director any of the powers exercisable by them upon such terms and conditions and with such restrictions as they may think fit, and either collaterally with or to the exclusion of their own powers, and may from time to time revoke, withdraw, alter, or vary all or any of those powers. SECRETARY 96. The secretary shall in accordance with the Act be appointed by the directors for such terms, at such remuneration, and upon such conditions as they may think fit, and any secretary so appointed may be removed by them. SEAL 97. The directors shall provide for the safe custody of the seal, which shall only be used by the authority of the directors or of a committee of the directors authorized by the directors in that behalf, and every instrument to which the seal is affixed shall be signed by a director and shall be countersigned by the secretary or by a second director or by some other person appointed by the directors for the purpose. ACCOUNTS 98. The directors shall cause proper accounting and other records to be kept and shall distribute copies of balance-sheets and other documents as required by the Act and shall from time to time determine whether and to what extent and at what times and places and under what conditions or regulations the accounting and other records of the company or any of them shall be open to the inspection of members not being directors, and no member (not being a director) shall have any right of inspecting any account or book or paper of the company except as conferred by statute or authorized by the directors or by the company in general meeting. DIVIDENDS AND RESERVES 99. The company in general meeting may declare dividends, but no dividend shall exceed the amount recommended by the directors. 100. The directors may from time to time pay to the members such interim dividends as appear to the directors to be justified by the profits of the company. 101. No dividend shall be paid otherwise than out of profits or shall bear interest against the company. 102. The directors may, before recommending any dividend, set aside out of the profits of the company such sums as they think proper as reserves which shall, at the discretion of the

23 directors, be applicable for any purpose to which the profits of the company may be properly applied, and pending any such application may, at the like discretion, either be employed in the business of the company or be invested in such investments (other than shares in the company) as the directors may from time to time think fit. The directors may also without placing the same to reserve carry forward any profits which they may think prudent not to divide. 103. Subject to the rights of person, if any, entitled to shares with special rights to dividend, all dividends shall be declared and paid according to the amounts paid or credited as paid on the shares in respect whereof the dividend is paid, but no amount paid or credited as paid on a share in advance of calls shall be treated for the purposes of this article as paid on the share. All dividends shall be apportioned and paid proportionately to the amounts paid or credited as paid on the shares during any portion or portions of the period in respect of which the dividend is paid; but if any share is issued on terms providing that it shall rank for dividend as from a particular date that share shall rank for dividend accordingly. 104. The directors may deduct from any dividend payable to any member all sums of money, if any, presently payable by him to the company on account of calls or otherwise in relation to the shares of the company. 105. Any general meeting declaring a dividend or bonus may direct payment of such dividend or bonus wholly or partly by the distribution of specific assets and in particular of paid-up shares, debentures or debenture stock of any other company or in any one or more of such ways and the directors shall give effect to such resolution, and where any difficulty arises in regard to such distribution of such specific assets or any part thereof and may determine that cash payments shall be made to any members upon the footing of the value so fixed in order to adjust the rights of all parties, and may vest any such specific assets in trustees as may seem expedient to the directors. 106. Any dividend, interest, or other money payable in cash in respect of shares may be paid by cheque or warrant sent through the post directed to the registered address of the holder or, in the case of joint holders, to the registered address of that one of the joint holders who is first named on the register of members or to such person and to such address as the holder or joint holders may in writing direct. Every such cheque or warrant shall be mad payable to the order of the person to whom it is sent. Any one of two or more joint holders may give effectual receipts for any dividends, bonuses, or other money payable in respect of the shares held by them as joint holders. CAPTIALISATION OF PROFITS 107. The company in general meeting may upon the recommendation of the directors resolve that it is desirable to capitalize any part of the amount for the time being standing to the credit of any of the company's reserve accounts or to the credit of the profit and loss account or otherwise available for distribution, and accordingly that such sum be set free for distribution amongst the members who would have been entitled thereto if distributed by way of dividend

24 and in the same proportions on condition that the same be not paid in cash but be applied either in or towards paying up any amounts for the time being unpaid on any shares held by such members respectively or paying up in full unissued shares or debentures of the company to be allotted, distributed and credited as fully paid up to and amongst such members in the proportion aforesaid, or partly in the one way and partly in the other, and the directors shall give effect to such resolution. A share premium account and capital redemption reserve may, for the purposes of this article, be applied only in the paying up of unissued shares to be issued to members of the company as fully paid bonus shares. 108. Whenever such a resolution as aforesaid shall have been passed the directors shall make all appropriations and applications of the undivided profits resolved to be capitalized thereby, and all allotments and issues of fully paid shares or debentures, if any and generally shall do all acts and things required to give effect thereto, with full power to the directors to make such provision by the issue of fractional certificates or by payment in cash or otherwise as they think fit for the case of shares or debentures becoming distributable in fractions, and also to authorize any person to enter on behalf of all the members entitled thereto into an agreement with the company providing for the allotment to them respectively, credited as fully paid up, of any further shares or debentures to which they may be entitled upon such captitalsations, or , as the case may require, for the payment up by the company on their behalf, by the application thereto of their respective proportions of the profits resolved to be capitalized, of the amounts or any part of the amounts remaining unpaid on their existing shares, and any agreement made under such authority shall be effective and binding on all such members. NOTICES 109. A notice may be given by the company to any member either personally or by sending it by post to him at his registered address, or (if he has no registered address within Singapore) to the address, if any, within Singapore supplied by him to the company for the giving of notices to him. Where a notice is sent by post, service of the notice shall be deemed to be effected by properly addressing, prepaying and posting a letter containing the notice, and to have been effected in the case of a notice of a meeting on the day after the date of its posting, and in any other case at the time at which the letter would be delivered in the ordinary course of post. 110. A notice may be given by the company to the joint holders of a share by giving the notice to the joint holder first named in the register of members in respect of the share. 111. A notice may be given by the company to the persons entitled to a share in consequence of the death or bankruptcy of a member by sending it through the post in a prepaid letter addressed to them by name, or by the title of representatives of the deceased. or assignee of the bankrupt, or by any like description, at the address, if any within Singapore supplied for the purpose by the person claiming to be entitled, or (until such an address has been so supplied) by giving the notice in any manner in which the same might have been given if the death or bankruptcy had not occurred.

25 112. (1) Notice of every generally meeting shall be given in any manner hereinbefore authorized to(a) every member; (b) every person entitled to a share in consequence of the death or bankruptcy of a member who, but for his death or bankruptcy, would be entitled to receive notice of the meeting; and (c) the auditor for the time being of the company. (2) No other person shall be entitled to receive notices of general meetings. WINDING UP 113. If the company is wound up the liquidator may, with the sanction of a special resolution of the company, divide amongst the members in kind the whole or any part of the assets of the company (whether they consist of property of the same kind or not) and may for that purpose set such value as he deems fair upon any property to be divided as aforesaid and may determine how the division shall be carried out as between the members or different classes of members. The liquidator may, with the like sanction, vest the whole or any part of any such assets in trustees upon such trusts for the benefit of the contributories as the liquidator, with the like sanction, think fit, but so that no member shall be compelled to accept any shares or other securities whereon there is any liability. INDEMNITY 114. Every director, managing director, agents, auditor, secretary, and other officer for the time being of the company shall be indemnified out of the assets of the company against any liability incurred by him in defending any proceedings, whether civil or criminal, in which judgement is given in his favor or in which he is acquitted or in connection with any application under the Act in which relief is granted to him by the Court in respect of any negligence default breach of duty or breach of trust.

Exhibit 10.2 LEASE AGREEMENT This lease dated August 29, 2000, is entered into and executed by and between BLACKHAWK BUSINESS CENTER, INC. dba DANVILLE BUSINESS CENTER (hereinafter called "LESSOR") and ELVA (hereinafter called "LESSEE"). 1. PREMISES: LESSOR hereby leases to LESSEE and LESSEE hereby leases from LESSOR office number(s) TEN(10), 303 Diablo Road, Suite 100, Danville, California, 94526 (hereinafter called "PREMISES') 2. TERM: The term of this lease shall be for SIX (6) months commencing on September 11, 2000. Upon the ending date set forth herein or any extension thereof, the lease herein granted shall be renewed and extended for the same period of time as the original term hereof, unless either party notifies the other in writing at least sixty (60) days prior to the ending date of this Lease, or the ending of any extensions thereof, that this Lease will not be renewed. For any renewal or extension, the monthly rent shall be the current rate being charged to new LESSEE's at that time for like space. 3. RENT: LESSEE agrees to pay LESSOR as monthly rent for the PREMISES and telecommunications services as described in Exhibit "D" the sum of ONE THOUSAND THREE HUNDRED SEVENTY DOLLARS AND 00/100 ($1,370.00) in advance on the first day of each and every calendar month during said term. In the event their term of this Lease commences or ends on a day other than the first day of a calendar month, then the rental for such period shall be prorated. All rents are due and payable on the first of each month. Any rents not received by LESSOR within five (5) days after the due date are subject to a service charge of ten percent (10%) of the past due balance. In the event that LESSEE fails to pay any amount when due, LESSEE shall pay to LESSOR interest thereon at an annual rate of ten percent (10%) or such lower rate as may be maximum lawful rate. 4. A. ADDITIONAL AVAILABLE SERVICES: LESSOR will provide, at its expense, additional services which are available to LESSEE on a contract basis, and which include, but are not limited to, telephone services, secretarial services, word processing, photocopies, mail services, facsimile transmission services, and equipment rental. LESSEE may contract with LESSOR for these services as a tenant under this Lease, and in that event, LESSOR will bill LESSEE on a monthly basis at LESSOR'S current charge or charges for each and all of those services requested of LESSOR by LESSEE. All such charges for additional services are due and payable five (5) days upon receipt of an invoice from LESSOR. Any charges not received by LESSOR within five (5) days after the due date are subject to a service charge of ten percent (10%) of the past due balance. In the event that LESSEE fails to pay any amount when due, LESSEE shall pay to LESSOR interest thereon at an annual rate of ten percent (10%) or such lower rate as may be maximum lawful rate.

B. MAIL: Subject to any restrictions set forth herein, LESSEE is hereby authorized to use the address of LESSOR as LESSEE's business address (the "PREMISES ADDRESS" herein). Upon termination of this Lease or use of the PREMISES, LESSEE will notify all parties of termination of such use of the PREMISES ADDRESS. In the event that either this Lease terminates or LESSEE is in default hereunder, the LESSEE's right to use the PREMISES ADDRESS shall immediately terminate, and LESSOR will return to senders all mail addressed to LESSEE. C. FURNITURE AND EQUIPMENT: in the event LESSEE rents LESSOR's furniture or other equipment including but not limited to telephones (hereinafter called "EQUIPMENT"), LESSEE shall not damage said EQUIPMENT or make any modifications, alterations or attachments thereto, nor remove the same without the written consent of LESSOR, which may be withheld in the sole discretion of LESSOR. If in the opinion of LESSOR, any LESSEE performed modifications, whether or not made with the permission of LESSOR, interferes with the normal use and maintenance of the EQUIPMENT and/or telephone system and/or switch at the LESSOR's center or otherwise creates a safety hazard, LESSOR may at LESSEE's expense, remove any such modifications. EQUIPMENT shall be moved only by LESSOR or its authorized representatives. LESSEE shall be responsible to pay all costs of such move at the then published LESSOR's fees. LESSEE shall pay for any and all moves, adds and changes relating to LESSEE's telephone service unless otherwise waived in writing by LESSOR. Upon expiration of the term or other termination of this Lease, LESSEE shall return the furniture and EQUIPMENT to LESSOR in the same condition as when provided, normal wear and tear expected. If at the end of the term of this Lease, LESSEE has performed all of the provision of this Lease, the deposits held on the EQUIPMENT or any remaining balance will be returned to LESSEE, without interest, within forty-five (45) days after the end of the term. 5. POSSESSION: If LESSOR, for any reason whatsoever, cannot deliver possession of the PREMISES at the commencement of the term, the LESSOR shall not be liable for any loss or damage caused thereby nor shall this Lease be void or voidable, but the LESSEE shall not be liable for any rent until such time as the LESSOR delivers possession. 6. PERMITTED USE: Said PREMISES shall, during the term of this Lease and any extensions thereof, be used or the following business purposes only: Business offices of ELVA. LESSEE agrees that LESSEE will not offer or use the PREMISES to provide other services or non-service item provided by LESSOR to LESSOR's other tenants or clients, or make or permit use of the PREMISES which is forbidden by law or regulation, or may be hazardous or unsafe, or may tend to impair the character, reputation, appearance or operation of LESSOR. LESSEE shall not contract with or employ an administrative assistant or clerical staff member for the purpose of providing secretarial services or word processing services without the prior written consent of LESSOR. The maximum number of person(s) who may occupy the PREMISES is one (1) per office unless prior written consent is given by LESSOR. 7. SECURITY DEPOSIT: LESSEE has deposited with LESSOR the sum of ONE THOUSAND THREE HUNDRED SEVENTY DOLLARS AND 00/100 ($1,370.00). Said sum shall be held by 2

LESSOR as security for the faithful performance by LESSEE of all the terms, covenants, and conditions of this Lease during the term hereof. If LESSEE defaults with respect to any provision of this Lease, including but not limited to the provisions relating to the payment of rent, LESSOR may (but shall not be required to) use, apply or retain all or any part of this security deposit for the payment of any rent or any other reason in default, or for the payment of any other amount which LESSOR may spend or become obligated to spend by reason of LESSEE's default, or to compensate LESSOR for any loss or damage which LESSOR may suffer by reason of LESSEE's default. If any portion of said deposit is so used or applied, LESSEE shall, upon written demand therefore, deposit cash with LESSOR in an amount sufficient to restore the security deposit to its original amount, and LESSEE's failure to do so shall be a material breach of this Lease. LESSOR shall not be required to keep this security deposit separate from its general accounts. If LESSEE performs all LESSEE's obligations hereunder, said deposit shall be returned to LESSEE, without payment of interest within forty-five (45) days after the end of the lease term. 8. LEASE TERMINATION AND SURRENDER: On expiration or sooner termination of this Lease, or any extension or renewals of this Lease, LESSEE shall promptly surrender and deliver the PREMISES to LESSOR in as good condition as they are now at the date of this Lease, reasonable wear and tear expected. 9. ALTERATIONS: LESSEE shall make no alterations, decorations, additions or improvements in or to the PREMISES without LESSOR's prior written consent, and only by contractors or mechanics approved by LESSOR. All such work shall be done at such times and in such manner as LESSOR may from time to time designate. LESSEE shall provide, at LESSEE's expense, plastic mat(s) to be placed under each executive chair located within the PREMISES and will use it at all time. In the event mat(s) are not installed within one week of move-in, LESSOR will purchase and install said mat(s) at a cost to LESSEE of $65.00 each. Any alterations, decorations, additions or improvements by LESSEE pursuant to this Lease shall, at the sole option of LESSOR, be removed at LESSEE's expense at the expiration of the tenancy under this Lease, and the PREMISES shall be restored to their state and condition at the date of commencement at LESSEE's expense. 10. BUILDING ACCESS: Provided the LESSEE shall not be in default hereunder, and subject to the provisions elsewhere herein contained, the LESSOR agrees to furnish to the PREMISES in reasonable quantities, electric current for lighting and normal office use only, common restroom facilities with hot and cold water, and heating and air conditioning. The "Facilities and Services" described in Exhibit "B" attached to and expressly made a part of this Lease by reference shall be furnished to the PREMISES during normal business hours. The LESSOR shall not be liable for any damage caused as a result of furnishing any of the above described facilities or services, or for stoppage or interruption of any said services caused by labor disturbances, or labor disputes (whether caused by LESSOR or otherwise), accident, repairs or other cause; nor shall LESSOR be liable under any circumstances for loss or injury to persons or property, however occurring, through, or in connection with or incidental to, the furnishing of any of the foregoing or any other service by LESSOR to LESSEE, nor shall any such failure relieve LESSEE from the duty to pay the full amount of rent herein specified, or constitute or be construed as constructive or other eviction of LESSEE. 3

11. REPAIR: By entry hereunder, LESSEE accepts the PREMISES as being in good, sanitary order, condition and repair. LESSOR shall have no obligation to alter, remodel, improve, repair, decorate or paint the PREMISES or any part thereof, and the parties hereto affirm that LESSOR has made no representations to LESSEE respecting the condition of the PREMISES or the Building except as specifically herein set forth. 12. INSURANCE: LESSEE, at his expense, will provide liability insurance for the PREMISES with a combined single limit for bodily injury and property damage liability of $1,000,000 (one million dollars) minimum. The LESSOR will be endorsed as an addition named insured on the liability policy and a certificate of insurance will be provided to LESSOR by LESSEE. The LESSOR will not carry insurance on LESSEE's possessions and personal property. 13. SIGNS AND AUCTIONS: LESSEE shall not place any sign upon the PREMISES or Building or conduct any auction thereon without LESSOR's prior written consent. 14. CHOICE OF LAW: This Lease shall be governed by the laws of the State of California. In the event the LESSOR shall bring and sustain an action against the LESSEE for breach of any covenant, agreement or condition herein contained, or for the recovery of possession of the demised PREMISES, or should the LESSOR, without fault on its part, be named as a defendant in any action or proceeding brought against the LESSEE in connection with this Lease or arising out of its occupancy of the demised PREMISES, the LESSEE will pay to LESSOR all costs and expenses incurred by it in such action or proceeding, including a reasonable attorney's fee. 15. SUBLET AND LICENSE: Neither the LESSEE, nor anyone claiming by, through or under the LESSEE, shall mortgage or assign this Lease or sublet or license the PREMISES or any part thereof or permit the use of the PREMISES by any person other than the LESSEE without prior written consent of LESSOR which LESSOR agrees it will not unreasonably withhold. 16. BUILDING RULES: The "Rules and Regulations" described in Exhibit "C" are attached to and expressly made a part of this Lease by reference, and the LESSEE hereby expressly covenants and agrees to abide by all of the said Rules and Regulations, as well as such reasonable modification thereof as may be hereafter adopted and written notice thereof given to LESSEE by the LESSOR. The LESSOR shall have no responsibility to the LESSEE for the violation or non-performance by any other tenant of said Building of any of said Rules and Regulations. 17. WRITTEN NOTICES: All notices by LESSOR to LESSEE, or by LESSEE to LESSOR shall be in writing. Notices to LESSEE shall be deemed to be duly given if delivered personally to an officer of LESSEE, or mailed by registered mail, postage prepaid, addressed to LESSEE at the demised PREMISES. Notices to LESSOR shall be deemed to be duly given if delivered personally to Julie Riele, President, Blackhawk Business Center, Inc. or other officer of LESSOR, or mailed by registered mail, postage prepaid, address to LESSOR at its offices at 383 Diablo Road, Suite 100, Danville, California, 94526. 18. COMPLIANCE WITH LAW: LESSEE shall at LESSEE's own cost and expense, comply with all statutes, ordinances, regulations and requirements of all governmental agencies, whether federal, 4

state, county or municipal, related to LESSEE's use and occupancy of said PREMISES whether such statutes, ordinances, regulations and requirements be now in force or hereinafter enacted. 19. INSURANCE HAZARDS: LESSEE shall not commit nor permit the commission of any acts on said PREMISES nor use or permit the use of said PREMISES in any manner that will increase the existing rates or cause the cancellation of any fire, liability, or other insurance policy insuring the PREMISES or the improvements to the PREMISES. LESSEE shall, at his/its own cost and expense, comply with any and all requirements of LESSOR's insurance carriers necessary of the continued maintenance of and reasonable rates for the fire and liability policies of LESSOR for the PREMISES and the improvements to the PREMISES. 20. HOLD HARMLESS: LESSEE agrees to indemnify and to hold LESSOR and the property of LESSOR, including the premises, free and harmless from any and all claims, liability, loss, damage, or expenses resulting from LESSEE's occupation and use of the PREMISES and Building. 21. DEFAULT AND ABANDONMENT BY LESSEE: Should LESSEE breach this Lease and abandon the PREMISES prior to the natural expiration of the term of this Lease, LESSOR may: (a) continue this Lease in effect by not terminating LESSEE's right to possession of said PREMISES, in which event LESSOR shall be entitled to enforce all its rights and remedies under this Lease, including the right to recover the rents and other obligations, if any, of LESSEE specified in this Lease as they become due under this Lease; or (b) terminate this Lease and recover from LESSEE (i) The worth, at the time of award, of the unpaid rent which had been earned at the time of termination of the Lease; (ii) The worth, at the time of award, of the amount by which the unpaid rent which would have been earned after termination of the Lease until the time of award exceeds the amount of rental loss that LESSEE proves could have been reasonably avoided; (iii) The worth, at the time of award, of the amount by which the unpaid rent for the balance of the term of this Lease after the time of the award exceeds the amount of rental loss that LESSEE proves could be reasonably avoided; (iv) Any other amount necessary to compensate LESSOR for all detriment approximately caused by LESSEE's failure to perform his obligations under this Lease. Should LESSEE default in the performance of any of the covenants, conditions, or agreements contained in this Lease or any addendum to this Lease, LESSEE shall have breached the Lease and LESSOR may, in addition to the remedies specified in this paragraph, re-enter and regain possession of said PREMISES in the manner provided by the Laws of Unlawful Detainer of the State of California then in effect. The remedies given to LESSOR in this paragraph shall not be exclusive but shall be cumulative and in addition to all remedies now or hereafter allowed by law or elsewhere provided in this Lease. The waiver by LESSOR of any breach by LESSEE of any of the provisions of this Lease shall not constitute a continuing waiver or a waiver of any subsequent breach by LESSEE either of the same or another provision of this Lease. 22. EMPLOYEES OF LESSOR: LESSEE agrees not to employ any employees of the LESSOR during the LESSEE's stay within the PREMISES or for period of six (6) months following the termination of this Lease. Because of the difficulty of ascertaining the exact damages, there shall be payable to the LESSOR the sum of $10,000.00 (ten thousand dollars) liquidated damages for each such breach. 5

23. ATTORNEY'S FEES: Should any litigation be commence between the parties to this Lease concerning the PREMISES, this Lease or the rights and duties of either in relation thereto, the party, LESSOR or LESSEE, prevailing in said litigation shall be entitled, in addition to such other relief as may be granted in the litigation, to a reasonable sum as and for his/its attorneys fees in such litigation which shall be determined by the Court in such litigation or in a separate action brought for determining such sum. 24. PARTIAL INVALIDITY: Should any provision of this Lease be held by a Court of competent jurisdiction to be either invalid, void or unenforceable, the remaining provisions of this Lease shall remain in full force and effect, unimpaired by the holding. 25. SOLE AND ONLY AGREEMENT: This instrument, together with any addenda thereto, constitutes the sole and only agreement between LESSOR and LESSEE respecting the PREMISES, and correctly set forth the obligations of LESSOR and LESSEE to each other as of this date. Any agreements or representations respecting the PREMISES, or their leasing by LESSOR to LESSEE, not expressly set forth in this instrument are null and void. "LESSOR" BLACKHAWK BUSINESS CENTER, INC.
By: /s/ Gary Riele ------------------------------------Gary Riele, Vice President Date: 9-5-00 -----------------

"LESSEE" ELVA By: Robert C. Pierre Print Name
By: /s/Robert C. Pierre ------------------------------------Signature Title: ------------------------------------ELVA 4540 Campus Drive Newport Beach, CA 92660 (949) 252-5382 Date: 8 29 2000 -----------------

6

EXHIBIT "A" FLOOR PLAN [Diagram attached to original] 7

EXHIBIT "B" FACILITIES AND SERVICES the following facilities and services are provided to LESSEE each month in consideration for the monthly rent paid to LESSOR by LESSEE: Office space as specified in this Lease or any addenda thereto. Personalized telephone answering service during normal business hours (8:00 a.m. to 5:00 p.m., Monday through Friday, except legal holiday). Hours are subject to change at LESSOR'S discretion. Full-time receptionist service during normal business hours (8:00 a.m. to 5:00 p.m., Monday through Friday, except legal holiday) and reception area with seating for visitors. Hours are subject to change at LESSOR'S discretion. Mail receipt handling; incoming mail sorted and placed in mail slot, Monday through Friday. Use of a microwave oven and refrigerator/freezer. Coffee and tea for tenants and visitors. Coffee service for meeting shall be charged according to published rates and charges. Janitorial service. All utilities including electric for lighting and normal office use only, and heating and air conditioning. Four (4) hours per month per leased office usage of conference room on a time-shared, reservation basis with other Lessees. One hour minimum billing. 24 hour notice of cancellation required. Unused hours may not be carried forward. Adequate, free parking. Access to building 7 days per week, 24 hours per day. Additional administrative services are provided by LESSOR to LESSEE on an as-needed basis and charged according to the then current published price list for those services. 8

EXHIBIT "C" RULES AND REGULATIONS LESSEE shall comply with all those Rules and Regulations as are set forth herein below. As used in this Exhibit "C", the term "PREMISES", "LESSEE" and "LESSOR" shall have the meaning set forth in the Lease of which these Rules and Regulations form a part. 1. No part of the Premises shall be used to manufacture any commodity or to prepare or dispense any food or beverage, nor shall any cooking be done or permitted in or about the PREMISES, and no vending machine or machines of any description shall be installed, maintained or operated in or about PREMISES. 2. No kerosene, gasoline or combustible fluid or material shall be used or kept in or about the PREMISES, nor shall any method of heating or air-conditioning be used for the PREMISES other than that supplied by the LESSOR. LESSEE shall comply with all fire regulations that may be approved by LESSOR. 3. No animals or birds may be brought or kept in or about the PREMISES. 4. The floors of the PREMISES shall not be overloaded, no shall any safe or other heavy object be installed in the PREMISES without sufficient provision being made for the proper distribution of the weight thereof. 5. LESSEE shall not install any radio or television antenna, loudspeaker or any other devise on the exterior walls of the building. 6. LESSEE shall keep PREMISES in a good state of preservation and cleanliness. It shall not allow anything whatever to fall from the windows or doors of the PREMISES, nor shall it sweep or throw from the PREMISES any dirt or other substance into any of the corridors or halls, ventilators or elsewhere in the Building. Refuse shall be placed in containers in such a manner and at such times and places as LESSOR may direct. 7. The sidewalks, entrances, vestibules, corridors, halls, landings and fire exits must not be obstructed or encumbered or used of any purpose other than ingress and egress to and from the PREMISES and the Building. 8. Water closets and other water apparatus in the Building shall not be used for any purpose other than those for which they were designed, nor shall any sweepings, rubbish, rags or other articles be thrown into same. Any damage resulting from misuse of any water closets or other apparatus in the PREMISES shall be repaired by LESSOR and paid for by LESSEE. 9. No vehicle belonging to LESSEE or to an employee, licensee, invitee, client or visitor of LESSEE or occupant shall be parked in such manner as to impede or prevent ready access to any entrance to or exit from the Building or parking garage by any other vehicle. 10. LESSEE, its employees, licensee, invitee, client or visitor of LESSEE or occupant of the PREMISES shall not at any time or for any reason whatsoever enter upon or attempt to enter upon the roof of the Building, except when directed to do so by LESSOR or public authorities in the event of a life safety emergency 11. Canvassing, soliciting and peddling in or about the PREMISES or elsewhere in the Building shall be prohibited and LESSEE and any occupant of the PREMISES shall cooperate to prevent the same. 12. Unless approved by LESSOR, no hand trucks, except those equipped with rubber tires and side guards, shall be used in or about the Building, and no other carts or vehicles of any kind shall be used in or about the Building. 13. No furniture, freight or equipment of any kind shall be brought in or received in the Building, except at such time and in such manner as shall be approved by LESSOR. 9

14. The bulletin board or directory of the Building shall be used exclusively for the display of the names and locations of the LESSEES and occupants of the Building, and LESSOR reserves the right to exclude any other names therefrom, to limit the number of names associated with particular occupants at rates applicable to all occupants of the Building. 15. LESSEE shall see that the exterior doors of the Building and the PREMISES are closed and securely locked on Saturdays and Sundays and legal holidays and not later than 6:00 p.m. of each other day. LESSEE shall exercise care and caution that all water faucets or water apparatus are entirely shut off before LESSEE or its employees leave the PREMISES, and that all utilities, electricity, gas or air, shall likewise be carefully shut off so as to prevent waste or damage. 16. LESSEE shall comply with such security measures and procedures as may be approved by LESSOR for the operation of the Building and the conduct of business therein. 17. LESSEE shall not alter any lock or install any new or additional locks or any bolts on any doors of the PREMISES. 18. Lessee and invitees or guests of Lessee are not permitted to smoke any cigarettes, cigar or pipe in any area of the Building at any time. 19. LESSOR shall have the right to control and operate those portions of the Building, other than the PREMISES, and heating and air conditioning, as well as facilities furnished for the common use of the Lessees, in such a manner as it seems best for the Lessees generally. 20. Complaints regarding services or operation of the Building shall be made in writing to LESSOR. 21. These rules and regulations and any consent or approval given hereunder may be added to, amended or repealed at any time by the LESSOR. 10

PROPOSAL FOR OFFICE SPACE AND SERVICES DANVILLE BUSINESS CENTER Presented to: Elva August 28, 2000 Monthly Fixed Charges:
Office Space: *Danville office, exterior *Unfurnished *Office #10 *Six month lease agreement *Standard phone package (2 Phone set up) Telephone line (voice), Speaker phone set (Includes call forwarding, speed dialing, 3 way conference calling) 24 hour voicemail *Standard phone package - 2nd user *DSL Line (high speed internet access) *Dedicated modem line *Dedicated fax line Total monthly telecommunications services Total monthly fixed charges (September Prorate) Set up Fees: *Security deposits (fully refundable): Monthly fixed charges (rent and telecommunications) Telephone set(s) Office key(s) - Danville $ 20 Office key(s) - Blackhawk $ 40 *Telephone installation: Phone/fax/modem line Voicemail programming DSL line *Set up fees: Administrative set up fee Directory listing & Door Sign - Danville Directory listing - Blackhawk Total set up fees TOTAL DUE UPON MOVE-IN $ $ 1,100.00 0.00

Telecommunications Services:

85.00

85.00 100.00 0.00 0.00 -------------270.00 $ 883.80

$

1,370.00 170.00 60.00 0.00 375.00

$ $

125.00 0.00 0.00 2,100.00 2,983.80

4 hours/month conference room usage, janitorial service, parking, utilities, coffee/tea service and 24 hour access are included at no additional charge. Additional services including photocopying, mail services, secretarial and word processing services are available at scheduled rates and charges. The submission of this proposal does not constitute a reservation for an option to lease. Any lease shall become effective only upon the execution and delivery thereof by lessor and lessee. The parties reserve the right to modify, redraw or withdraw this proposal. This proposal expires end of business day on: Wednesday, August 30, 2000.

Exhibit 10.3 COPIES TO: Patrick Misko, ELVA, S.A. Robert Pierre, ELVA, S.A. DOCUMENTS SIGNED ON THE BEHALF OF ELVA ASIA PTE LTD, INCLUDING: - DOCUMENTS RELATED TO THE INCORPORATION OF ELVA ASIA PTE LTD. - LEASE CONCERNING ELVA ASIA PTE LTD OFFICE PREMISES, SIGNED FOR A PERIOD OF TWO YEARS FROM AUGUST 2000. Franck CRESPIN ELVA Asia Pte Ltd 20-12-00

THE COMPANIES ACT (CHAPTER 50) Section 19 (2) FORM 6 STATUTORY DECLARATION OF COMPLIANCE
Name of Company: ELVA ASIA PTE LTD

I,....Toh Kian Leong....of.....15 Beach Road, #03-10 Beach Centre Singapore 189677 *NCIR/S1206589B ...... so solemly and sincerely declare (a) that I am+ .....the accountant engaged in the formation......of the

abovenamed proposed company; (b) that all the requirements of the Companies Act and of the regulations made thereunder in respect of matters precedent and incidental to the registration of the abovenamed proposed company have been complied with; And I make this solemn declaration conscientiously believing the same to be true and by virtue of the provisions of the Statutory Declarations Act 1835. Declared at ..... Singapore ... this ...27th ... day of ... Oct ... 2000
/s/ Toh Kian Leong ----------------------Signature Toh Kian Leong

Before me
Signature (Seal) /s/ Robin Lim Boon Cheng ----------------------------------[Commissioner for Oaths Singapore Robin Lim Boon Cheng Apr 2000 - 31 Mar 2001]

C20000/0387 1

* Delete where inapplicable. + Insert "the solicitor/the accountant engaged in the formation" or "a person named in the articles as a director or secretary".
Loged in the office of the Registrar of Companies &| For Official Use Businesses by |--------------------------Name: PARK CRESCENT SERVICES PTE LTD | Date of Registration: Address: 15 Beach Road #03-07 | Receipt No: Beach Centre | Checked By: Singapore 189677 A/c No: Tel No: 336 2827 Fax No: 337 2806

THE COMPANIES ACT (CHAPTER 50) Section 19 (3) FORM 7 CERTIFICATE OF IDENTITY Name of Company: ELVA ASIA PTE LTD I ......Toh Kian Leong ......, ... Certified Public Accountant ...., of .... 15 Beach Road, #03-10 Beach Centre, Sinapore 189677 ...... *NRIC/ No: ... S1206589B .... do hereby certify to the best of my knowledge and ability that the following person(s) is/are identified by me as *Subscriber(s)/Officers(s) to the Memorandum and Articles of Association of the abovenamed proposed company: 1 Name of *subscriber/officer: Franck Bernard Alain Crespin Address: 48A Toh Tuck Road, #02-03 Signature Park, Singapore 596740 Fin No: F7889057Q /Passport No: 99AE 00942 Nationality: French 2 Name of *subscriber/: Franck Bernard Alain Crespin for and on behalf of Elva Inc Address: 48A Toh Tuck Road, #02-03 Signature Park, Singapore 596740
Fin No: F7889057Q /Passport No: 99AE 00942 Nationality: French -------------------------------------------------------------------------------3 Name of *subscriber/officer: Address: *NRIC/Passport No: Nationality: -------------------------------------------------------------------------------4 Name of *subscriber/officer: Address: *NRIC/Passport No: Nationality: --------------------------------------------------------------------------------

Dated this ..... 6th ..... day of .... October .... 2000
Signature: /s/ Toh Kian Leong Name of * / / Approved Company Auditor: Toh Kian Leong * Delete where inapplicable.

================================================================= Loged in the office of the Registrar of Companies &| For Official Use Businesses by |--------------------------Name: PARK CRESCENT SERVICES PTE LTD | Date of Registration: Address: 15 Beach Road #03-07 | Receipt No: Beach Centre | Checked By: Singapore 189677 A/c No: Tel No: 336 2827 Fax No: 337 2806

THE COMPANIES ACT (CHAPTER 50) Section 19 (3) FORM 7 CERTIFICATE OF IDENTITY Name of Company: ELVA ASIA PTE LTD I ......Leise Purtle ......, ... Notary Public ...., of .... 4847 Hopyard Rd Ste 4, Pleasanton, CA, U.S.A. 94588 ...... *Commission #: ... 1261602 .... do hereby certify to the best of my knowledge and ability that the following person(s) is/are identified by me as */Officers(s) to the Memorandum and Articles of Association of the abovenamed proposed company: 1 Name of */officers: Vincent Cedric Colnot Address: 17 rue Jean-Jacques Rousseau, 94200 Ivry, France
/Passport No: 98IH 29410 Nationality: French -------------------------------------------------------------------------------2 Name of *subscriber/officers: Address: *NRIC/Passport No: Nationality: -------------------------------------------------------------------------------3 Name of *subscriber/officers: Address: *NRIC/Passport No: Nationality: -------------------------------------------------------------------------------4 Name of *subscriber/officers: Address: *NRIC/Passport No: Nationality: --------------------------------------------------------------------------------

Dated this ..... 6th ..... day of .... October .... 2000 (SEALOF THE STATE OF CALIFORNIA)
[LEISE PURTLE COMM.#1261602 NOTARY PUBLIC-CALIFORNIA ALAMEDA COUNTY My Comm. Expires Apr. 22, 2004 Signature: /s/ Leise Purtle Name of * Notary Public/ / /: Leise Purtle

* Delete where inapplicable. ================================================================= Loged in the office of the Registrar of Companies &| For Official Use Businesses by |--------------------------Name: PARK CRESCENT SERVICES PTE LTD | Date of Registration: Address: 15 Beach Road #03-07 | Receipt No: Beach Centre | Checked By: Singapore 189677 A/c No: Tel No: 336 2827 Fax No: 337 2806

THE COMPANIES ACT (CHAPTER 50) Section 19 (3) FORM 24 RETURN OF ALLOTMENT OF SHARES Name of Company: ELVA ASIA PTE LTD The issue of the shares referred to in this return was made pursuant to a resolution passed by the members of the company on ..... N.A. ..... The shares referred to in this return were allotted, or are deemed to have been allotted under section 63(6) of the Companies Act, to the allottees on the dates indicated. 1 Payable in cash
Class of Shares Numbers of shares Nominal amount of each share Amount paid or due and payable on each share due and payable Amount of premium paid or payable on each share Ordinary 50,000 $1.00 $1.00d Preference | | | N.A. | | Others | | | N.A. | |

2 For a consideration other than cash (*See Form 25/contract in writing)
Class of Shares Numbers of shares Nominal amount of each share Amount to be treated as paid on each share Ordinary 50,000 N.A. | Preference | N.A. | Others | N.A. |

The consideration for which the shares have been so alloted is as follows: ---------------------------------- N.A. ----------------------------------================================================================= Loged in the office of the Registrar of Companies &| For Official Use Businesses by |--------------------------Name: PARK CRESCENT SERVICES PTE LTD | Date of Registration: Address: 15 Beach Road #03-07 | Receipt No: Beach Centre | Checked By: Singapore 189677 A/c No: Tel No: 336 2827 Fax No: 337 2806

Form 24 Continuation Sheet 1 (Please use continuation sheets if space provided is insuffient) FORM
24 Name of Company: Company No: 3 List of the allottees and an account of the shares allotted to them are as ELVA ASIA PTE LTD

follows:
(a) Name (b) Address (c) NRIC/Passport No/Registration No (d) Nationality/Country of Incorporation ----------------------------------------(e) + No and class of shares allotted and consideration therefor (f) Date of allotment ------------------------------------------

Elva Inc. 499,999 oridnary shares of $1.00 each alloted 222 Lakeview Avenue for cash on date of incorporation Suite 415 West Palm Beach Florida United States of America Regn No: 65-0790761 Incorporated in the United States of America

Franck Bernard Alain Crespin 1 ordinary share of $1.00 each alloted for 48A Toh Tuck Road cash on date of incorporation #02-03 Signature Park Singapore 596740 P/P: 99AE00942 Fin: F7889057Q French * Delete where inapplicable. + Please specify if class of shares is other than Ordinary (i.e. Preference/Others) and if consideration is otherwise than in cash. Details of consideration need not be provided.

Form 24 Continuation Sheet 2 (Please use continuation sheets if space provided is insuffient) FORM 24
Name of Company: Company No: 4 Upon the abovementioned Capital is as follows: allotment of shares, the position of the Share ELVA ASIA PTE LTD

Authorised Share Capital Issued Share Capital Paid-up Share Capital

Oridinary $ 100,000.00 $ 50,000.00 $ 50,000.00

Preference | N.A. |

Others | N.A. |

CERTIFICATE: I hereby certify, in relation to the abovenamed company, that (a) the company has more than 500 members; (b) the company keeps its principal shares register at (address) (c) the company provides reasonable accommodation and facilities for persons to inspect and take copies of its list of members and its particulars of shares transferred; (d) the shares referred to in this return were allotted for cash; (e) the shares referred to in this return were allotted for a consideration other than cash and the number of persons to whom the shares have been allotted exceeds 500.
Dated: 6 October 2000

Signature: /s/ Franck Bernard Alain Crespin Name of *Director/: FRANCK BERNARD ALAIN CRESPIN

* Delete wher inapplicable + This Certificate is not to be completed if paragraph 3 of this form is completed.

THE COMPANIES ACT (CHAPTER 50) Sections 143 (1) and 368 (1)(f) FORM 44 NOTICE OF SITUATION OF REGISTERED OFFICE AND OF OFFICE HOURS AT TIME OF REGISTRATION Name of Company: ELVA ASIA PTE LTD Company No: The Registrar of Companies & Businesses, Singapore The abovenamed company gives notice that at the time of incorporation: (a) its registered office will be situated at: 7500A Beach Road #14-306/307 The Plaza Singapore 199591 (b) the days and hours during which the office will be open and accessible to the public will be:
Mondays to Fridays (from 9.00 a.m. to 6.00 p. m.) Dated this ..6th ..day of ....October ....2000

Signature: /s/ Frank Bernard Alain Crespin -----------------------------------------Name of *Director/: FRANCK BERNARD ALAIN CRESPIN ----------------------------------------* Delete wher inapplicable ================================================================= Loged in the office of the Registrar of Companies &| For Official Use Businesses by |--------------------------Name: PARK CRESCENT SERVICES PTE LTD | Date of Registration: Address: 15 Beach Road #03-07 | Receipt No: Beach Centre | Checked By: Singapore 189677 A/c No: Tel No: 336 2827 Fax No: 337 2806

THE COMPANIES ACT (CHAPTER 50) Section 146 (1) FORM 45 CONSENT TO ACT AS DIRECTOR AND STATEMENT OF NON DISQUALIFICATION TO ACT AS DIRECTOR Name of Company: ELVA ASIA PTE LTD Company No: I .....Frank Bernard Alain Crespin ......(Name) of ....48A Toh Tuck Road, #02-03 Signature Park, Singapore 596740 ....(Address), */Passport No: ...99AE00942 (Fin No: F7889057Q) ..... hereby consent to act as director of the abovenamed company with effect from ...date of incorporation .... and as required under section 146(1) of the Companies Act, I state as follows: (1) That I am not less than 21 years of age and that I am of full capacity. (2) That I am not an undischarged bankrupt in Singapore or in any other foreign jurisdiction. (3) Within a period of 5 years preceding the date of this statement I have not had any disqualification order made by the High Court of Singapore against me under section 149 or 154(2) of the Act. ** (4) That within a period of 5 years preceding 12 November 1993 I have not been convicted whether within or without Singapore, of any offence (a) in connection with the promotion, formation or management of a corporation; (b) involving fraud or dishonesty punishable on conviction with imprisonment for 3 months or more; or (c) under section 157 (failure to act honestly and diligently as a director or making improper use of company information for gain) or under 339 (failure to keep proper company accounts books) of the Act. ** (5) That within a period of 5 years preceding the date of this statement I have not been convicted, in Singapore or elsewhere, of any offence involving fraud or dishonesty punishable on conviction with imprisonment for 3 months or more. (6) That (a) I have not been convicted of 3 or more offences under the Compnaies Act in relation to the requirements on the filing of returne, accounts or other documents with the Registrar of Companies and have not had 3 or more order of the High Court of Singapore made against me under section 13 or 399 of the Act in relation to such requirements; and (b) involving fraud or dishonesty punishable on conviction with imprisonment for 3 months or more; or (7) By virtue of the foregoing I am not disqualified from acting as a director of the above named company. *Delete wher inapplicable **Where the disqualified person is sentence to imprisonment, his disqualification takes effect on conviction and continues of a period of 5 years on his release from prision.

Form 45 Continuation Sheet 1
Name of Company: ELVA ASIA PTE LTD FORM 45 Company No:

(8) That - *(a) I have read and understand the above statements; or *(b) the above statements were interpreted to me in

----------------------------------------------------------------------by ----------------------------------------------------------------------NRIC NO: -----------------------------------------------------------------------

before I executed this form and I confirm that the statements are true. I am also aware that I can be prosecuted in Court if I willfully give any information on this form which is false.
Signature: /s/ Frank Bernard Alain Crespin -------------------------------------FRANK BERNARD ALAIN CRESPIN

I do hereby certify that the abovenamed person appeared before me and signed the Consent together with the Statement in my presence and that I have verified his/her identity.
Signature: /s/ Toh Kian Leong -------------------------------------TOH KIAN LEONG

Name of: Approved Company Auditor
Dated this .... 6th .... day of .... October .... 2000 * Delete wher inapplicable ================================================================= Loged in the office of the Registrar of Companies &| For Official Use Businesses by |--------------------------Name: PARK CRESCENT SERVICES PTE LTD | Date of Registration: Address: 15 Beach Road #03-07 | Receipt No: Beach Centre | Checked By: Singapore 189677 A/c No: Tel No: 336 2827 Fax No: 337 2806

NAME OF COMPANY: ELVA ASIA PTE LTD Name: Frank Bernard Alain CRESPIN Chinese Characters: N.A. Town & Place of Birth: Les Lilas, France Date of Birth: 12 January 1969 Natinality/Citizenship (a) Current: French (b) At Birth: Frenc Occupation: Area Manager Travel Document Number: 99AE00942 Date of Issue: 26 October 1999 (Please specify: whether PASSPORT/ Certificate of Identity/Document of
Identity/Others) Country of Issue: Singapore (French Embassy) Identity Card -FIN- Number: F7889057Q Date of Issue: Country of Issue: Singapore Address In:(a) Singapore 48A Toh Tuck Road #02-03 Signature Park Singapore 596740 (b) Overseas (c) Others N.A. N.A. Countries of Residence (if different from Country of Birth) Period From To Country 1969 1994 1995 1996 1994 1995 1996 Present France United Kingdom France Singapore

Dec 1999

/s/ Frank Bernard Alain Crespin ----------------------------------------Signature

FRANK BERNARD ALAIN CRESPIN Name of Person Completing this Form

THE COMPANIES ACT (CHAPTER 50) Section 146 (1) FORM 45 CONSENT TO ACT AS DIRECTOR AND STATEMENT OF NON DISQUALIFICATION TO ACT AS DIRECTOR Name of Company: ELVA ASIA PTE LTD Company No: I .....Vincent Cedric Colnot ......(Name) of ....17 rue Jean-Jacques Rousseau, 94200 Ivry, France ....(Address), */Passport No: ...98IH29410 ..... hereby consent to act as director of the abovenamed company with effect from ...date of incorporation .... and as required under section 146(1) of the Companies Act, I state as follows: (1) That I am not less than 21 years of age and that I am of full capacity. (2) That I am not an undischarged bankrupt in Singapore or in any other foreign jurisdiction. (3) Within a period of 5 years preceding the date of this statement I have not had any disqualification order made by the High Court of Singapore against me under section 149 or 154(2) of the Act. ** (4) That within a period of 5 years preceding 12 November 1993 I have not been convicted whether within or without Singapore, of any offence (a) in connection with the promotion, formation or management of a corporation; (b) involving fraud or dishonesty punishable on conviction with imprisonment for 3 months or more; or (c) under section 157 (failure to act honestly and diligently as a director or making improper use of company information for gain) or under 339 (failure to keep proper company accounts books) of the Act. ** (5) That within a period of 5 years preceding the date of this statement I have not been convicted, in Singapore or elsewhere, of any offence involving fraud or dishonesty punishable on conviction with imprisonment for 3 months or more. (6) That (a) I have not been convicted of 3 or more offences under the Compnaies Act in relation to the requirements on the filing of returne, accounts or other documents with the Registrar of Companies and have not had 3 or more order of the High Court of Singapore made against me under section 13 or 399 of the Act in relation to such requirements; and (b) involving fraud or dishonesty punishable on conviction with imprisonment for 3 months or more; or (7) By virtue of the foregoing I am not disqualified from acting as a director of the above named company. *Delete wher inapplicable **Where the disqualified person is sentence to imprisonment, his disqualification takes effect on conviction and continues of a period of 5 years on his release from prision.

Form 45 Continuation Sheet 1
Name of Company: ELVA ASIA PTE LTD FORM 45 Company No:

(8) That - *(a) I have read and understand the above statements; or *(b) the above statements were interpreted to me in

----------------------------------------------------------------------by ----------------------------------------------------------------------NRIC NO: -----------------------------------------------------------------------

before I executed this form and I confirm that the statements are true. I am also aware that I can be prosecuted in Court if I willfully give any information on this form which is false.
Signature: /s/ Vincent Cedric Colnot -----------------------------------VINCENT CEDRIC COLNOT

I do hereby certify that the abovenamed person appeared before me and signed the Consent together with the Statement in my presence and that I have verified his/her identity. (SEALOF THE STATE OF CALIFORNIA)
[LEISE PURTLE Signature: /s/ Leise Purtle COMM.#1261602 Name of * Notary Public/ NOTARY PUBLIC-CALIFORNIA / ALAMEDA COUNTY /: Leise Purtle My Comm. Expires Apr. 22, 2004] Dated this ..... 6th ..... day of .... October .... 2000

* Delete where inapplicable. ================================================================= Loged in the office of the Registrar of Companies &| For Official Use Businesses by |--------------------------Name: PARK CRESCENT SERVICES PTE LTD | Date of Registration: Address: 15 Beach Road #03-07 | Receipt No: Beach Centre | Checked By: Singapore 189677 A/c No: Tel No: 336 2827 Fax No: 337 2806

NAME OF COMPANY: ELVA ASIA PTE LTD
Name: Vincent Cedric COLNOT Chinese Characters: N.A. Town & Place of Birth: Moulins, France Date of Birth: 24 August 1963 Natinality/Citizenship (a) Current: French (b) At Birth: French Occupation: President Travel Document Number: 98IH29410 Date of Issue: 26 March 1998 (Please specify: whether PASSPORT/ Certificate of Identity/Document of Identity/Others) Country of Issue: France Identity Card Number: N.A. Date of Issue: N.A. Country of Issue: N.A. Address In:(a) Singapore N.A.

(b) Overseas (c) Others 17 rue Jean-Jacques Rousseau 94200 Ivry France N.A. Countries of Residence (if different from Country of Birth) Period From To Country

N.A.
Signature: /s/ Vincent Cedric Colnot -------------------------------------Signature

VINCENT CEDRIC COLNOT Name of Person Completing this Form

THE COMPANIES ACT (CHAPTER 50) Section 146(1), 173(6) and 205 FORM 49 RETURN GIVING PARTICULARS IN REGISTER OF DIRECTORS, MANAGERS, SECRETARIES AND AUDITORS AND CHANGES OF PARTICULARS Name of Company: ELVA ASIA PTE LTD Company No: The *particulars are as follows:
(a) Name (b) Reidential Address (c)*NRIC/Passport No (d) Nationality (e) Occupation (f) Nature of Appointment/ Change /Cessation and Effective Date (For new companies, state "Appointed with effect from date of incorporation")

+

DIRECTORS P/P: 99AE00942 Fin: F7889057Q French Area Manager P/P: 98IH29410 French President Appointed with effect from date of incorporation

Franck Bernard Alain Crespin 48A Toh Tuck Road #02-03 Signature Park Singapore 596740 Vincent Cedric Colnot 17 rue Jean-Jacques Rousseau 94200 Ivry France

Appointed with effect from date of incorporation

Dated ... 6 October 2000 ... Signature /s/ Frank Bernard Alain Crespin ---------------------------------

Name of *Director/ This Form consists of this page FRANK BERNARD ALAIN CRESPIN *and continuations sheets --------------------------------* Delete where inapplicable. +Insert headings, ie, Directors, Managers, Secretaries or Auditors Note: Attach Annexes for particulars of other directorships of public companies or thier subsidiaries in Singapore. Changes in respect of NRIC/Passport No and address notified herin will be updated by the Registry in all other companies of which the above persons are officers and shareholder. Auditors need only give their firm's name and address.
Loged in the office of the Registrar of Companies &| For Official Use Businesses by |--------------------------Name: PARK CRESCENT SERVICES PTE LTD | Date of Registration: Address: 15 Beach Road #03-07 | Receipt No: Beach Centre | Checked By: Singapore 189677 A/c No: Tel No: 336 2827 Fax No: 337 2806

THE COMPANIES ACT (CHAPTER 50) Sections 50(2)(b) and (d), 45(1)(h), 109(3),
213(8)(a), 368(1)(a), (b), (e), .....etc FORM 94 GENERAL LODGMENT FORM Name of Company: ELVA ASIA PTE LTD

Company No: Name of person lodging this form: Franck Bernard Alain Crespin
*/Passport No: Fin No: Address: 99AE00942 F7889057Q 48A Toh Tuck Road, #02-03 Signature Park, Singapore 596740 Director

Designation:

1 I, the abovenamed person, hereby lodge the following document (the text of which is set out below) in respect of the above mentioned company: (1) Nature of document: Power of Attorne (2) Date of document: 7 September 2000 (3) The text of the document is as follows:

*(The document is annexed hereto) The document is annexed hereto 2 This lodgment was compled and signed by me on: 6 October 2000
/s/ Frank Bernard Alain Crespin -------------------------------------------Signature of person making lodgment

FRANK BERNARD ALAIN CRESPIN * Delete where inapplicable.
Loged in the office of the Registrar of Companies &| For Official Use Businesses by |--------------------------Name: PARK CRESCENT SERVICES PTE LTD | Date of Registration: Address: 15 Beach Road #03-07 | Receipt No: Beach Centre | Checked By: Singapore 189677 A/c No: Tel No: 336 2827 Fax No: 337 2806

POWER OF ATTORNEY BY THIS POWER OF ATTORNEYgiven on the 7th day of September 2000, Elva, Inc., a Company incorporated in the United States of America and having its registered office at 222 Lakeview Avenue, Suite 415, West Palm Beach, FLORIDA, USA, hereby appoint Mr Franck Bernard Alain CRESPIN (Passport No. 99AE00942 and FIN: F7889057Q) of 48A Toh Tuck Road #02-03 Signature Park, 596 740 Singapore, (hereinafter called "the attorney") as its true and lawful attorney and tha the attorney be and is herby authorized to subscribe on behalf of Elva, Inc., to the Memorandum and Articles of Association of a Company to be incorporated in Singapore and to be known as Elva Asia Pte Ltd for 49,999 ordinary share of S$1.00 each in the capital of such Company and to sign any other documents requiring execution by Elva Inc. relating to the incorporation of such Company. The Common Seal of Elva Inc. )
) ) ) ) ) ELVA, Inc. 222 Lakeview Avenue, Suite 415 West Palm Beach FLORIDA 33401 - USA

is hereunto affixed in the presence of:

/s/ Patrick Misko -----------------------------DIRECTOR

/s/ -----------------------------------DIRECTOR/SECRETARY

ELVA, Inc. 222 Lakeview Avenue, Suite 415 - / West Palm Beach, FL 33401 - USA Tel: (561) 659 65 30 Fax: (561 659 53 71

Original INLAND REVENUE AUTHORITY OF SINGAPORE
Certificate of Stamp Duty Certificate No. Certificate Issued Date User's Reference Unique Doc. Reference Description of Document Date of Document Property Description Building Landlord/Lessor Tenant/Lessee Stamp Duty Total Amount 20/12/2000fjc2001 S$ 288.00 014051-00LA1-1-031929600 : 014051-00LA1-1-031929600 : 20/12/2000 : : : : 0007/LS 2000122000358 Agreement For Lease (Ad Valorem) 20/12/2000

: : 7500A, Beach Road, #14-306/307, Singapore 199591 : AGROPURO ENTERPRISES PTE LTD (ROC-198204004N) : ELVA ASIA PTE LTD (ROC - 200009237H) : S$ 288.00 : S$288.00

fl44efb13f92f4daaa1c55628849aa0a

TENANCY AGREEMENT AN AGREEMENT made on the 20th of December Two Thousand (2000) BETWEEN AGROPURO ENTERPRISES PTE LTD Company Registration No: 198204004N of 7500A Beach Road #14-305 The Plaza Singapore 199591 (hereinafter called "the Landlord" which expression shall where the context so admits include the person entitled for the time being to the reversion immediately expectant on the term hereby created) of the one part AND ELVA ASIA PTE LTD Company Registration No: 200009237H of 7500A Beach Road #14-306/307 The Plaza Singapore 199591 (hereinafter called "the Tenant" which expression shall where the context so admits include the Tenant's successors and assigns) of the other part. NOW IT IS HEREBY AGREED as follows: 1 The Landlord agrees to let and the Tenant agrees to take all that property known as 7500A Beach Road #14306/307 The Plaza Singapore 199591 (hereinafter called "the said premises") together with the furniture, fixtures and fittings therein belonging to the Landlord (hereinafter called "the furniture") TO HOLD unto the Tenant from the 16th day of August 2000 for a term of Two (2) Years, at the rent of DOLLARS Three Thousand Only (S$3,000.00) per month comprising: (a) Dollars Two Thousand Three Hundred Ninety Seven & Cents Thirty Only (S$2,397.30) being rental in respect of the said premises; (b) Dollars Six Hundred Two & Cents Seventy Only (S$602.70) being maintenance charges; and The first payment of Dollars Three Thousand Only (S$1,500.00) for the rent for the period from 16th August 2000 to 31 August 2000 is payable on the signing of this Agreement. Subsequent payment of Dollars Three Thousand Only (S$3,000.00) is payable monthly in advance without deduction whatsoever on the 1st day of each month. 2. The Tenant hereby agrees with the Landlord as follows: (a) To pay the said rent at the times and in manner aforesaid. (b) To pay a deposit of DOLLARS Six Thousand Only (S$6,000.00) being equal to Two (2) months rent upon the signing of this Agreement (the receipt whereof the Landlord hereby acknowledges) as security against the breach of any term or condition of this Agreement, such deposit to be refunded (free of interest) at the expiry or lawful termination of this tenancy. This deposit shall not be utilised as set-off for any rent due and payable during the duration of this Agreement. 2

(c) To pay all charges due in respect of any telephones or other equipment installed at the said premises, including any tax payable thereon. (d) To pay all charges for the supply of water, electricity, gas and any water borne sewerage system, any such installations installed or used at the said premises, including any tax payable thereon. (e) To keep the interior of the said premises including the furniture and the doors and windows thereof in good and tenantable repair and condition throughout this tenancy (fair wear and tear and damage by any act beyond the control of the Tenant expected). (f) To permit the Landlord and its agents, surveyors and workmen with all necessary appliances to enter upon the said premises at all reasonable times by prior appointment for the purpose whether of viewing the condition thereof or of doing such works and things as may be required for any repairs, alterations or improvements whether of the said premises or of any parts of any building to which the said premises may form a part of or adjoin. (g) To replace electric bulbs, tubes and other expendable items at its own expense up to Dollars One Hundred (S$100.00) per item. Such expenditure in excess of Dollars One Hundred (S$100.00) shall be borne by the Landlord. (h) To comply with all such rules and regulations and terms and conditions as may be imposed from time to time on occupiers of the building by the Management Corporation or other bodies (where applicable) for the proper management of the same. (i) To yield up the said premises at the expiration or sooner determination of this tenancy in such good and tenantable repair and condition (fair wear and tear excepted) as shall be in accordance with the conditions, covenants and stipulations herein contained and with all locks keys and furniture. (j) To keep the air-conditioning units installed at and for the said premises in good and tenantable repair and condition. (k) During the two (2) months immediately preceding the expiration of the tenancy herein to permit the Landlord or its representatives at all reasonable times and by prior appointment to bring interested parties to view the said premises for the purpose of letting the same. (l) During the duration of this tenancy, allow the Landlord or its representatives at all reasonable times and by prior appointment to bring any interested parties to view the said premises in the event of a prospective sale thereof. The said premises shall be sold subject to this tenancy. (m) Not to make or permit to be made any structural alterations to the said premises. (n) Not to use the said premises or any part thereof other than an office in connection with and for the purpose of the Tenant's business and to obtain licenses and permits at the Tenant's expenses from the relevant authorities where necessary. (o) Not to exceed the maximum electricity load and not to load or permit to be loaded on any part of the floors of the said premises weights 3

exceeding those Specified by the Landlord, Management Corporation or other bodies (where applicable). (q) Not to assign sublet or part with the possession of the said premises or any part thereof without the written consent of the Landlord which consent shall not be unreasonable withheld in the case of a respectable and responsible tenant. This prohibition shall not apply to the occupation of the said premises or any part thereof by any person or persons employed or engaged by the Tenant or members of the Tenant's family where applicable. (r) Not to keep or permit to be kept on the said premises or any part thereof any materials of a dangerous or explosive nature or the keeping of which may contravene any statute or subsidiary legislation. (s) Not to do or permit to be done anything whereby the policy or policies of insurance on the said premises against damage by fire may become void or voidable or whereby the premium thereon may be increased. 3. The Landlord hereby agrees with the Tenants as follows: (a) To pay all rates, taxes, maintenance charges and any surcharges thereon, assessments and outgoings (except as otherwise provided in this Agreement) which are or may hereafter be charged or imposed on the said premises including any surcharges payable thereon. (b) To insure the said premises against loss or damage by fire and to pay all premium thereon. (c) To be responsible for the repair and replacement of parts in respect of the air-conditioning units installed at the said premises save where the same are caused by any act, default, neglect or omission on the part of the Tenant or any of its servants agents occupiers contractors guests or visitors. (d) To maintain the structural condition of the said premises including sanitary pipes and electrical wiring and to keep the roof of the said premises in good and tenantable repair and condition. (e) That the Tenant paying the rent hereby reserved and observing and performing the several conditions, covenants and stipulations on the Tenant's part herein contained shall peaceably hold and enjoy the said premises during this tenancy without any interruption by the Landlord or any person rightfully claiming under or in trust for the Landlord. 4. Provided always and it is expressly agreed as follows: (a) If the rent hereby reserved shall not be paid for seven (7) days after its due date or if there shall be a breach of any of the conditions, covenants or stipulations on the part of the Tenant herein contained, the Landlord shall be entitled to re-enter upon the said premises and thereupon this tenancy shall immediately absolutely determine but without prejudice to any right of action of the Landlord for damage or otherwise in respect of any such breach or any antecedent breach. (b) In the event the rent remaining unpaid seven (7) days after becoming payable (whether formally demanded or not), it shall be lawful for the Landlord to claim interest at ten percent 4

(10%)per annum on the amount unpaid calculated from after the date due to the date of actual payment. (c) The Landlord shall not be liable to the Tenant or the Tenant's servants agents or agents or other persons in the said premises or persons calling upon the Tenant for any accidents happening, injury suffered, damage to or loss of any chattel property sustained on the said premises. (d) In case the said premises or any part thereof shall at any time during this tenancy be destroyed or damaged by fire lightning riot explosion or any other cause beyond the control of the parties hereto so as to be unfit for occupation and use, then and in every such case (unless the insurance money shall be wholly or partially irrecoverable by reason solely or in part of any act, default, neglect or omission of the Tenant or any of their servants agents occupiers guests or visitors), the rent hereby reserved or a just and fair proportion thereof according to the nature and extent of the destruction or damage sustained shall be suspended and cease to be payable in respect of any period while the said premises shall continue to be unfit for occupation and use by reason of such destruction or damage. (e) In case the said premises shall be destroyed or damaged as aforesaid, either party shall be at liberty by notice in writing to the other determine this tenancy, and upon such notice being given, this tenancy or the balance thereof shall absolutely cease and determine and the deposit paid hereunder together with a reasonable proportion of such advance rent as has been paid hereunder, where applicable, shall be refunded to the Tenant forthwith but without prejudice to any right of action of either party in respect of any antecedent breach of this Agreement by the other. (f) The Landlord shall on the written request of the Tenant made less than three (3) months before the date of expiry of this tenancy, and if there shall not at the time of such request be any existing breach or any nonobservance of any of the conditions, covenants or stipulations on the part of the Tenant herein contained, at the expense of the Tenant, grant to the Tenant a tenancy of the said premises for a further term of One (1) year from the date of expiry of this tenancy at a rent to be agreed based on the prevailing market rent but otherwise containing the like conditions, covenants and stipulations as are herein contained with the exception of this option for renewal. In the event of failure to reach agreement as to the rent, the rent shall be determined by a valuer to be appointed by the Landlord and the Tenant. The costs of the valuer shall be borne equallybetween the Land lord and the Tenant. (g) The waiver by either party of a breach or default of any of the provisions in this Agreement shall not be construed as a waiver of any succeeding breach of the same or other provisions nor any delay or omission on the part of either party to exercise or avail itself of any right that it has or may have herein, operates as a waiver of any breach or default of the other party. (h) Any notice served under or in any way in connection with this Agreement shall be sufficiently served on the Tenant if left at the said premises or delivered to the Tenant personally or sent to the Tenant at the said premises by registered post and shall be sufficiently served on the Landlord if delivered to the Landlord personally or sent to the abovementioned address by registered post. Any notice sent by registered post shall be deemed to be given at the time when in due course of post it would be delivered at the address to which it is sent. 5

(i) The stamp duty for stamping this Agreement in duplicate shall be borne by the Tenant and shall be paid on the date of signing of this Agreement. (j) This Agreement shall be subject to the laws of the Republic of Singapore. IN WITNESS WHEREOF the parties have hereunto set their hands the day and year first above written. SIGNED by the Landlord AGROPURO ENTERPRISES PTE LTD In the presence of: Name : Toll Soo Cainug NRIC No. : 01138345J Address : 22 Rochdale Spou1953 SIGNED by the Tenant ELVA ASIA PTE LTD In the presence of: Name : Lioenl Wong NRIC No.: Address: 6


				
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