Tan Teng Chong Consulting Services Agreement
Consulting Services Agreement
This agreement is made on December 27, 2006 by and between Asia Payment Systems, Inc., a Nevada
corporation (“Asia Pay”) with its principal offices at 800 5 th Avenue, Ste.4100, Seattle, WA. 98104 and Tan
Teng Chong (“TAN”) with an address at No. 768, Xietu Road Floor 18A, Shanghai 200233, China.
WHEREAS, Asia Pay requires expertise and assistance in the area of business development and marketing in
China and Southeast Asia to support its business and growth;
WHEREAS, TAN has substantial contacts among the business community and has business development and
business planning expertise with respect to the China market, and desires to act as a consultant to provide
business advisory services;
NOW, THEREFORE, in consideration of the premise and the mutual promises and covenants contained herein
and subject specifically to the conditions hereof, and intending to be legally bound thereby, the parties agree as
1. Certain Definitions - When used in this Agreement, the following terms shall have the meanings set forth
1.1 Affiliate - any persons or entities controlled by a party.
1.2 Asia Pay – Asia Payment Systems, Inc. or it subsidiaries which use the services of TAN.
1.3 Asia Pay Clients - the Asia Pay's clients who use the services of TAN.
1.4 Contact Person - the person who shall be primarily responsible for carrying out the duties of the
parties hereunder. Asia Pay and TAN shall each appoint Contact Persons to be responsible for
their respective duties. In the event that one party gives notice to the other party in writing that, in
their reasonable opinion, the other party's Contact Person is not able to fulfill their duties and
responsibilities hereunder, both parties shall mutually agree upon a replacement Contact Person
within 10 days of the said notice.
1.5 Extraordinary Expenses - expenses that are beyon