Indemnity Letter covering the Nominee Shareholder

To: Anna Adamou for and on behalf of VENGORD SYSTEM LTD– Shareholder

I refer to DORELLE TRADE LTD, a Company registered under the laws of the Republic of Cyprus under registration number ΗΕ 343506 and wish to request you to provide to the Company the service of director, secretary and shareholder. In acting as director, secretary and shareholder you should take instructions (including instructions by fax) and directions from the following and any other persons properly authorized by me from time to time mentioned in the Annex #1 attached hereto.

In consideration of your acting in this capacity I jointly severally warrant, undertake, and agree as follows:

1) I assume personally full and complete responsibility for any decision or action taken or which may at any time be taken by you or any one of your employees in furtherance of or in execution of any instructions received from me in compliance of which you shall act in the capacity of director, secretary or otherwise, of the said Company and I personally agree and accept that I shall be precluded and estopped in my capacity as the owner of the shares in the said Company from raising any claim against you or any one of you for any loss which I personally may at any time suffer as a result or in consequence of any such decision, act or omission which you may take or omit to take in compliance with or in observance of any instructions given to you as aforesaid.

2) I personally shall fully indemnity you and hold you harmless or any claims which may at any time be brought against you or any one of you by any third parties and/or by the said Company in respect of any omission which you may do or take or cause to be done or taken or omitted to be done or taken as a result of or in compliance with any instruction any fines or penalties including any legal or other costs incurred by you in defending any case which may be brought against you to the full extent, together with interest on any amount paid by you to any third parties or the said Company at the agreed interest rate. The indemnity as afore mentioned is conditional upon you giving me prompt written notice of any such claim and information regarding the claim that you shall consult and cooperate with me handing the defense against any such claim and will not settle any claim without my prior written consent.

3) names are given in the schedule below. You may rely on any instructions given by such person or persons by email, phone, letter, fax as if such instructions were given by me directly. I shall not give you or cause any of my officials to give you any instructions which are unlawful under the law of Cyprus or any other place having jurisdiction over the Company or where such instructions are to be carried out or which would give rise to any liability by you as aforesaid.

4) I personally guarantee payment of your fees and any disbursements and third-party costs incurred in connection with the provision of services which you may from time to time tender to me, either upon my own request or that of my appointees,or pursuant to the judgment and discretion of yourselves in furtherance of the best of the Company.

5) I guarantee that I will notify you within reasonable time and when my contact details are changed. I hereby consent to be appointed as Director/Secretary/Shareholder of the Company and your position held in the Company will be terminated as from any day after the date of signing this agreement if you cannot contact me on the contact details given to you or for the whatever reason I have not complied with the terms of this letter between myself and fiduciary obligations in connection with the Company.

6) You have the right to execute, upon my request, any kind of power of attorney appointing any appointee as an attorney to carry out any actions and sign any documents and I undertake to indemnify you against all costs, charges, expenses, loss or damage which you may incur or hereafter be liable to pay or sustain by reason of the execution and/or carrying out of the powers and authorities conferred upon the attorney by virtue of the power of Attorney.

7) The agreements and obligations on my part herein contained shall be binding on my respective executors, administrators, and successors in title.

8) It is understood and accepted by me that you may act on your own initiative when the interest of the Company demands immediate action and where prior notification to me appears to be impossible but only as regards matters relating to the maintenance of the Company in good standing and not connection with any contracts or commitments towards any third parties.

9) It is understood that my obligation to indemnity you is conditional upon yourself at all times acting in good faith in performance of your duties and in strict compliance with my instructions and instructions of my appointees mentioned above to the extent that such instructions are not contrary or in conflict with any legal provisions for the time being applicable. My undertaking shall be continuing and shall survive your resignation as Director/Secretary/Shareholder if so appointed, of the said Company and/or the dissolution/liquidation, winding up or striking off the said Company for any reason whatsoever.

I declare and confirm that the above-mentioned Company, of which I am beneficial owner, will not be utilized in any of the following activities:

a) Money Laundering

b) To receive the proceeds of drug trafficking

c) To receive the proceeds of criminal activities according to AML Directive

d) Terrorist activities

e) To enter into other illegal activity

f) Trading with such countries as might from time to time be subject to any embargo issued by the United Nations or any affiliate member organization.

10) I declare

My instructions to you may be given by myself independently and by my introducer (ASP or Agent Company) and any of the persons whose and affirm that I have never been declared bankrupt. If at any stage of my relationship with you I rendered insolvent or declared bankrupt I will notify you in writing immediately.