DISTRIBUTORAGREEMENTPinnacle.docx

DISTRIBUTORAGREEMENTPinnacle.docx

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DISTRIBUTORAGREEMENTPinnacle

EXCLUSIVEDISTRIBUTORAGREEMENT

THISAGREEMENTismadethis31dayofMarch,2011,byandbetweenZHENGZHOUJINSHIMACHININGCO.,LTD[郑州金时机械加工有限公司]（the“Company”）,withitsprincipalplaceofbusinesslocatedat河南省郑州市金水区南阳路239号探矿机械,中国,郑州andPinnacleFluidTechnologies,Inc.（the"Distributor"）withitsprincipalbusinessaddressat8700CommerceParkDrive,Suite105,Houston,TX77036,U.S.A.

NOW,THEREFORE,inconsiderationofthepromiseshereinaftermadebythepartieshereto,itisagreedasfollows:

ARTICLEI

APPOINTMENTOFDISTRIBUTORSHIP

1.DistributionRight.TheCompanyherebyappointsandgrantsDistributortheexclusiveandnon-assignablerighttoselltheequipmentoftheCompany（"Equipment"）listedinthethencurrent"PriceList"（Exhibit"A"attachedhereto）[omitted].Thedistributionrightshallbelimitedtocustomerswhohaveplacesofbusinessin,andwillinitiallyusetheCompany'sproductsinthegeographicareasetforthinExhibit"B"attachedhereto.

2.Prices.AllpricesstatedareeitherFOBdesignatedportcitiesinChinabytheDistributor.TheCompanyisresponsibleforthecostoftransportationandrelatedchargestolocalandstatefeesfromthefactorytothedesignedportsinChina.

3.CompetitiveEquipment.DistributoragreesnottorepresentorsellotherproductswhicharedeemedtobecompetitivewiththeCompany'sEquipmentunlessagreedtobytheCompanybywrittennotice.

ARTICLEII

MARKETINGANDSUPPORT

1.Sales.DistributorshalluseitsbesteffortstopromotethesaleanddistributionoftheEquipmentandtoprovideadequatesupport,whicheffortsshallincludethefollowing:

（a）Establishingandmaintainingappropriate,attractiveandaccessiblepremisesandfacilitiesforthedisplayanddemonstrationofEquipment;

（b）Provideanadequate,trainedsalesandtechnicalstafftopromotethesaleandsupportoftheEquipment;

（c）UndertakepromotionalcampaignsandcanvasprospectiveuserstostimulatethesalesofEquipment;

（d）ProvideCompanywithforecastsevery3-monthofitsprobabilityrequirementsforthenextsixmonthsforEquipmentandaccessories,suchforecaststobasedonthebestknowledgeofunderstandingthemarketbythedistributor;

2.Advertising.Companyshall,uponrequest,assisttheDistributoronalladvertising,salespromotion,andpublicrelationscampaignstobeconducted,includingprovidingDistributorwithdocumentationofpreviouspromotionalcampaignsconductedinconnectionwiththeEquipment,andshallprovidenecessarytechnicalinformationandassistance.

3.Training.CompanyshallfurnishtrainingofDistributor'ssalesandtechnicalrepresentativesatvarioustimesandlocationsasshallbedesignatedforthispurposebyCompany.Enrollmentintrainingcoursesshallbelimitedtoareasonablenumberofpersonswhoshallbesufficientlyqualifiedtotakethecourses.Distributorshallpaythesalariesandalltravelandlodgingexpensesandsubsistenceofitsrepresentatives.

ARTICLEIII

DELIVERY

1.PurchaseOrders.DistributorshallorderEquipmentbywrittennoticetoCompany.Eachordershallspecifythenumberofunitstobeshipped,thetypeofunitstobeshipped（asidentifiedbyCompanymodelnumberdesignationsindicatedinthePriceList）includingalloptionalfeatures,thedesiredmethodofshipmentandtheinstallationsite.CompanyshallindicateitsacceptanceofsuchreleasebyreturningasignedcopytoDistributor.CompanyagreestoshipunitstoDistributorascloseaspossibletothedeliveryschedulesetforthineachorderasacceptedbyCompany,unlessCompanyotherwiseindicatesinwriting.Companyshallnotberequiredtohonoranyreleasewhich:

（a）specifiesashippingdateearlierthanCompany'sthencurrentdeliveryscheduleforthedatesuchreleaseisreceivedbyCompanyand/or（b）specifiesaquantitytobedeliveredinanyonemonthwithinthecurrentdeliveryschedulewhichisgreaterthanonehundredpercent（100%）ofthetotalquantityshippedintheprecedingsixty（60）dayperiod.

2.EquipmentAcceptance.ThecriterionforacceptanceofCompanyEquipmentbyDistributorshallbethesuccessfuloperationoftheEquipmentusingCompany'sstandardtestproceduresanddiagnostictestprogramsapplicabletotheEquipmentinvolved.

3.Shipment.AllshipmentsofEquipmentshallbemadeFOBCompany'splantandliabilityforlossordamageintransit,orthereafter,shallnotpasstoDistributoruponCompany'sdeliveryofEquipmenttoacommoncarrierforshipment.Shippingdatesareapproximateandarebased,toagreatextent,onpromptreceiptbyCompanyofallnecessaryorderinginformationfromDistributor.Distributorshallnotbearallcostsoftransportationandinsurancetothedesignatedport.DistributorshallnotbeindefaultbyreasonofanyfailureinitsperformanceunderthisAgreementifsuchfailureresultsfrom,whetherdirectlyorindirectly,fire,explosion,strike,freightembargo,ActofGodorofthepublicenemy,war,civildisturbance,actofanygovernment,dejureordefacto,oragencyorofficialthereof,materialorlaborshortage,transportationcontingencies,unusuallysevereweather,defaultofanyothermanufacturerorasupplierorsubcontractor,quarantine,restriction,epidemic,orcatastrophe,lackoftimelyinstructionsoressentialinformationfromCompany,orotherwisearisenoutofcausesbeyondthecontroloftheDistributor.NorshalltheDistributoratanytimebeliableforanyincidental,specialorconsequentialdamages.

4.Cancellation.Distributormay,atanytimepriortothescheduleddateofshipment,cancelanyorallEquipmentonorderupongivingtimelywrittennoticeanduponpaymentofthefollowingcancellationchargesforeachunitcancelled.Thecancellationcharges,intendedasliquidateddamagesandnotpenalties,areasfollows:

NumberofDaysPriortoScheduledDateofShipmentthatNoticeofCancellationisReceivedbyCompany:

CancellationChargesExpressedasaPercentageofPurchasePrice:

0-5days

30%

5-15days

15%

16-30days

5%

31daysormore

0%

ARTICLEIV

PROPRIETARYRIGHTS

1.UseofCompanyName.Companyexpresslyprohibitsanydirectorindirectuse,referenceto,orotheremploymentofitsname,trademarks,ortradenameexclusivelylicensedtoCompany,exceptasspecifiedinthisAgreementorasexpresslyauthorizedbyCompanyinwriting.AlladvertisingandotherpromotionalmaterialwillbesubmittedtoCompanyatleasttwoweeksinadvanceandwillonlybeusedifCompanyconsentsthereto,whichconsentshallnotbeunreasonablywithheld.CompanyherebyauthorizesandrequiresDistributor'suseoftheCompany'sinsigniaorletteringwhichwillbeontheproductsatthetimeofthedelivery.CompanyherebyauthorizestheDistributor'suseofthelegendsetforthbelow.TheCompanyshallsubmittotheDistributorinwritingfullparticularspriortoanyuseoftheauthorizedlegends,onstationery,invoices,promotionmaterialorotherwise,andshallnotproceedwithsuchuseunlessanduntiltheCompany'swrittenapprovalshallhavebeenreceived.

Iftheauthorizedlegendisusedonanystationery,invoices,promotionmaterialorotherwisebyDistributor,Distributorwill,onterminationofthisAgreement,oruponrequestofCompany,discontinuetheuseofsuchlegendonanystationery,invoices,promotionmaterialorotherwiseandthereafterwillnotuse,eitherdirectlyorindirectlyinconnectionwithitsbusiness,suchlegendoranyothernames,titlesofexpressionssonearlyresemblingthesameaswouldlikelyleadtoconfusionoruncertainty,ortodeceivethepublic.

2.PatentIndemnity.Companyagrees,atitsownexpense,toindemnify,defendandholdharmlesseachDistributoranditscustomersfromandagainsteveryexpense,damage,costandloss（includingattorneys'feesincurred）andtosatisfyalljudgmentsanddecreesresultingfromaclaim,suitorproceedinginsofarasitisbaseduponanallegationthattheEquipmentoranypartthereoffurnishedbyCompanyoranyprocesswhichispracticedinthecustomaryuseoftheEquipmentisorhasbeeninfringinguponanypatent,copyrightorproprietaryright,ifCompanyisnotifiedpromptlyofsuchclaiminwritingandgivenauthority,andfullandproperinformationandassistance（atCompany'sexpense）forthedefenseofsame.IncasetheEquipment,oranypartthereof,insuchsuitisheldtoconstituteaninfringementandtheuseofsaidEquipmentorpartisenjoined,Companyshall,initssolediscretionandatitsownexpense,eitherprocurefortheindemniteetherighttocontinueusingsaidEquipmentorpartorreplaceormodifythesamewithnonperformanceorcapacityoraffectitscompatibilitywiththehardwareorfirmwarecomprisingtheEquipmentorthesoftwareutilizedthereon.

3.DrawingsandData.TheCompanynormallysuppliesallnecessarydatafortheproperinstallation,test,operationandmaintenanceofitsEquipment.Portionsofthisdataareproprietaryinnatureandwillbesomarked.TheDistributoragreestoabidebythetermsofsuchmarkingsandtobeliableforalllossordamageincurredbytheCompanyasaresultoftheimproperorunauthorizeduseofsuchdata.TheCompanyretainsforitselfallproprietaryrightsinandtoalldesigns,engineeringdetails,andotherdatapertainingtoanyEquipmentspecifiedinthecontractandtoalldiscoveriesinventions,patentrights,etc.,arisingoutofworkdoneinconnectionwiththecontractandtoanyandallEquipmentdevelopedasaresultthereof,includingthesolerighttomanufactureanyandallsuchproducts.TheDistributorshallnotcontacttheCompany'ssuppliers,oranyotherperson,forthepurposeofmanufacture.

4.TitletoProductsandDocumentationPackage.Distributoracknowledgesthat