FOR CARRYING OUT EXPATRIATE TECHNICAL SUPPORT SERVICES BETWEEN BANKPHB NIGERIAN PLC

AND BANKPHB EMPLOYEES EXPATRIATE TECHNICAL SERVICES PROVISION FOR THE GFP AGREEMENT THIS AGREEMENT is made this 20TH day of October 2007, between BANKPHB incorporated under the Laws of Nigeria (here in after called BANKPHB which shall where the context so admits includes its successors-in-title and assigns) of the one part HARIPRASAD REDDY T,as second party; WHEREAS: ARTICLE 1: CONTRACT PERIOD The contract period shall be for Contract

duration: The contract shall last for duration of 2 years and could be renewed only if employer is satisfied with employee's services. This is with effect from the 30th of December 2007. ARTICLE 2: FEES FOR SERVICES AND TERMS OF PAYMENTS 2.1 BANKPHB shall pay Employees on satisfactory performance of the services the sum USD 18,245.000 (Eigthen thousand Two Hundred And Forty Five Dollars only) monthly, Dollars or Euros equivalent depending on employees home country. 2.2 BANKPHB shall pay for services rendered by employee by cheque presented on a monthly basis at the rate stated therein 2.3 Payments of undisputed invoices will be made by BANKPHB to the employee monthly. 2.4 BANKPHB shall pay all fees in US dollars or Euros equivalent depending on employees home country and shall be paid; 75% to an offshore account provided by Employee and 25% locally.

The employee will be reimbursed by the employer for reasonable moving expense incurred only as a result of relocation or early termination of leases, storage charges; procurement of travel documents (flight tickets), immunizations etc. Reimbursements shall be made before employees embark on journey not later than Five (5) working days after submission of employees expense report and receipts, this after the acquisition of relevant traveling papers through assistance from the INDIAN HIHG COMMISSION SERVICES Employer for each intercontinental trip shall pay $5,520.00 flat rate travel/entertainment allowance to employee. Travel shall be by business class/first class. However for the purpose of commencement, the cost of travel ticket shall be paid in addition to travel/entertainment allowance. Cost shall be substantiated and shall be the rate charged at the Period/time of purchase. Employer shall also take care of employees' travel ticket including that of employees' family only on employees' early notification to employer and as shall be requested by employee. 2.5 COMFIRMED EMPLOYEES

Confirmed employees are those employees that have successfully acquired and forwarded his/her necessary permits clearance papers to the employers management-duly certified by the INDIAN HIHG COMMISSION,NIGERIA. Then they shall be entitled to above benefits. 2.6 OTHER BENEFITS . Quality single or family housing in company community. . Personal effects shipment and excess baggage allowances. . Access to some of the finest social and recreational facilities in Nigeria. . Free medical care in Nigeria for you and your family for contract duration. . Excellent educational assistance benefits with family status contracts. . Complete meals also for you and your family as deemed appropriate. . Life insurance Policy. . Maximum and efficient security both in work place and housing Community. Computer resources: Laptop Computer, 1.6 GHz Processor, 256 MB RAM, 24XCD-RW, 30GB Hard Drive, Floppy Drive, Integrated

Network Adapter, Internal 56K Modem, Spare Battery and Necessary Software. Full time Internet access is also made available Phones: the employer will provide each employee with one (1) landline and one (1) mobile telephone. This shall have a reasonable credit limit application per month. Local transportation: Shall be fully provided for employee and family by employer. Adequate private office space in a conducive and comfortable work environment shall be provided for each employee. Employees shall be authorized three (3) times paid vacation during the term of the contract, to be used at the employees discretion after duly informing and receiving approval from employers management. Employer will pay for travel expenses (i.e. flight tickets) and flat rate travel allowance of US$5,520.00. ARTICLE 3: GENERAL ADMINISTRATION AND MANAGEMENT/OTHER BENEFITS 3.1 Unless otherwise stated in a superseding document, the General Manager BANKPHB shall maintain general

administration and management of the hotel and all progress reports should be addressed to BANKPHB ARTICLE 4: FORCE MAJEURE 4.1 Not withstanding any thing herein stated, neither party should be considered in default in the performance of its obligations under this Agreement as a result of Force Majeure. The term "Force Majeure" shall include but not limited to Act of God, War, Nation wide strike, Lockout, Riot and Civil commotion. A strike or Lockout embarked upon by only the personnel shall not be deemed to be included in this term. 4.2 If an interruption of work occurs as a result of "Force Majeure" for up to seven (7) days, 70% of the basic daily fees shall be paid as standby.

However, if such suspension results in Employee not being able to perform its duties for more than seven (7) days, then BANKPHB may at its option elect to continue the implementation of this Agreement at adjusted standby rates to be negotiated or to terminate the contract.

ARTICLE 5: TERMINATION 5.1 This Agreement may be terminated: (i) If the services stated therein are not rendered satisfactorily. (ii) If the duration of the Agreement stated therein expires and no extension has been given. (iii) Under Force Majeure as stated therein ARTICLE 6: DEFAULT OF EMPLOYEE 6.1 In the event of default by employee or non-compliance by Employee with the terms and conditions of this Agreement, BANKPHB shall give notice to Employee specifying areas of default and employee shall have ten (10) calendar days to rectify to BANKPHB satisfaction, the said default(s). If the Employee does not rectify to BANKPHB satisfaction, the said default(s) within ten (10) days of receipt of the notice, BANKPHB may proceed with termination of this Agreement subject only to settlement of all payments due and outstanding at the time of termination. ARTICLE 7: ADDRESSES FOR NOTICE All notices and other communication required to be given hereunder by one

party to the other shall be in writing and shall be sufficiently given if sent by post, faxed or delivered by hand to the addresses hereunder. In case of Bankphb: Mr.Devoca Musa General Manager bankphb, Lagos,Nigeria

Notice shall be deemed to have been properly given if delivered by hand or registered post, fourteen (14) days after dispatch or postage.

ARTICLE 8: ENTIRE AGREEMENT This Agreement embodies the entire understanding of the parties hereto and any prior representation or arrangements are hereby superseded. ARTICLE 9: ATTESTATION

AS WITNESS, the hands of the duly authorized representatives of the parties, the day and year first above written; ARTICLE10: VISA, WORK/RESIDENT PERMIT Employee shall in no circumstance ask the NIGERIAN IMMIGRATION SERVICES to deduct the paper works fee for visa, work/resident permit papers from there first month salary. Note that the first month salary, flight ticket as well as other monetary benefits will be issued to employee only when they must have procured the visa, work/resident permit papers from the NIGERIAN IMMIGRATION SERVICES here in Nigeria where we have signed a contract agreement for easy acquisition of employee traveling document as readiness by employee to resume duty.

NOTE THAT THE HARD COPIES OF YOUR CONTRACT DOCUMENT HAVE BEEN SENT TO THE NIGERIAN IMMIGRATION SERVICES AS THEY SHALL SEND THE SAME TO YOU ONCE YOU MEET THEIR REQUIREMENT

SIGNED AND DELIVERED FOR ON BEHALF OF: BANKPHB BY: Mr. Devoca Musa General Manager Bankphb, Nigeria. In the presence of: NAME: SIGNATURE: ADDRESS: DESIGNATION: