SUBCONTRACT AGREEMENT

This Subcontract Agreement was made on the 1rd August of 2009.

Between

CCECC NIGERIA LIMITED

Of Ikom Cross River State

(hereinafter called the “Contractor”) of one part

And

NIGERIAN LABOUR FORCE EXCHANGE LIMITED

Of No 109 Cross River State

(hereinafter called the Sub-contractor) of the other part.

Whereas

The Contractor executes Construction of UGEP-KATSINA ALA IN BENUE/CROSS RIVER STATES CONTRACT No.5991

State, Nigeria (herein after called the Project) and is desirous the provision of skilled technicians and workers for the Project (herein after called the Sub-contract Works) to be executed by a professional company on sub-contract basis;

The Sub-contractor is willing to carry out the Sub-contract Works and makes an offer for the execution and completion of such Sub-contract Works and the remedying of any defects therein.

The Contractor accepts the offer, inclusive of the manpower list.

Now it is agreed as follows:

1.In this Sub-contract Agreement words and expressions shall have the same meanings as

are respectively assigned to them in the Conditions of Sub-contract hereinafter referred to.

2.The following document shall be deemed to form and be read and construed as part of

this Sub-contract Agreement, viz:

•Labour Act of the Federal Republic of Nigeria

•Labour Insurance Regulations (for Civil Engineering and Construction Industry) of the Federal Republic of Nigeria

•CCECC NIGERIA Subcontract Template (for Labour Force)

3.In consideration of the payment to be made by the Contractor to the Sub-contractor as

hereinafter mentioned the Sub-contractor hereby covenants with the Contractor to execute and complete the Sub-contract Works and remedy any defects therein in conformity in all respects with the provision of the Sub-Contract.

4.Definitions:

The Employer of the Project is Construction of UGEP-KATSINA ALA IN BENUE/CROSS RIVER STATES CONTRACT No.5991

•The Contractor is CCECC Nigeria Limited

•The Sub-contractor is Nigeria Labour Force Exchange Limited.

The Sub-contract Works consists of the Project UGEP-KATSINA ALA IN BENUE/CROSS RIVER STATES CONTRACT No.5991Cross River State, Nigeria.

5.The finalized Subcontract Sum is N540,700,000.00 (Five Hundred Forty Million, seven

Hundred Thousand Naira only) , inclusive relevant tax, for the completion of the whole Sub-contract Works without adjustment for fluctuation. The manpower Requirement list is as follows:

Labour: 300. Proposed salary: N20,000/month;

Mason: 100.Proposed salary: N25,000/month;

Carpenter: 100.Proposed salary: N25,000/month;

Ironbender: 60. Proposed salary:N30,000/month;

Other (welder, mechanic, etc.): 40. Proposed salary:N35,000/month.

6.The work should be completed according to the AGREEMENT. All the machinery,

equipment and materials should be supplied by CCECC.

7.The Subcontract Works should commence by the time the Subcontractor signing this

Agreement and the valid period for the agreement shall be twenty-four months.

8.If the Subcontractor fail to complete the Subcontract Works within the time stated in this

Agreement, the Subcontractor will be charged Liquated Damages at 1% (one percent) of the Subcontract Sum per day by the Contractor.

9.After twice written warnings (interval 7 days), the Contractor is entitled to terminate the

Contract Agreement at his discretion without prejudice to his right of claim for loses in addition to refund the relevant payment in case:

a.The Subcontractor fails to comply with the agreement.

b.The Subcontractor delays in progress beyond 14 days.

In Witness Whereof the parties hereto have caused this Sub-Contract Agreement to be executed to the day and year first above written.