Employment Agreement - Peak International Limited And Jerry Ang Herrera

Exhibit 10.22


EMPLOYMENT AGREEMENT

between

PEAK INTERNATIONAL LIMITED

and

JERRY ANG HERRERA

Employment Agreement Jerry Ang Herrera

September 20, 2007

Page 1


THIS AGREEMENT is made this 20th day of September, 2007 between PEAK INTERNATIONAL LIMITED, a company incorporated in Bermuda, with its principal office at Unit E & F, 19/F, CDW Building, 388 Castle Peak Road, Tsuen Wan, N.T., Hong Kong (the " Company" ); and Jerry Ang Herrera, residing at 20 Floor, Flat B, Block 6, Hanford Garden, Sam Shing LRT terminus, Tuen Mun, N.T., Hong Kong (the " Employee" ).

The parties agree as follows:

1. EMPLOYMENT

1.1. The Employee shall be employed by the Company as Vice President of Engineering / Quality. 2. PAYMENT UPON TERMINATION OF EMPLOYMENT

2.1. The term (" Term" ) of this Agreement shall commence on November 1, 2007 and this Agreement shall remain in effect its termination in accordance with its terms. Without any cause, both parties have the right to terminate this employment contract by giving 3 months' written notice or payment of 3 months' basic salary (the lump sum payment in clause 2.8) in lieu thereof. 2.2. The Employee shall be paid the monthly basic salary USD19,718.

2.3. Free accommodation in Shenzhen, PRC to be provided to the employee by the company.

2.4. The Company shall issue to the Employee stock options in respect of 90,000 ordinary shares in the Company under the Company' s stock option plan subject to board of directors' approval.

2.5. The Employee shall be entitled to fly business class on all air flights over five hours in length for travel on Company business during his employment with the Company (" Employment" ).

2.6. The Employee shall be responsible for and shall pay all income, sales, real estate, value added and other taxes and duties which are payable by the Employee, without any form of assistance or contribution from the Company.

2.7. The Employee shall be based in Shenzhen and shall be entitled to participate in all Company benefit plans in effect in Peak during the term of his employment with the Company or any subsidiary of the Company.

Employment Agreement Jerry Ang Herrera

September 20, 2007

Page 2

2.8. Subject to clauses 2.9 and 4, the Employee shall be entitled to a lump-sum payment in an amount equal to the greater of (a) US$59,154 or (b) 3 months' basic salary at the rate in effect at the time of termination of the Employment, and any accrued but unused vacation pay (the " Termination Payment" ) within 15 days of receipt by the Company of the General Release in the form attached hereto as Appendix I and signed by the Employee; and all of the Employee' s stock options in the Company which would otherwise vest in the Employee within 18 months of the date of termination of the Employment shall immediately vest in full in the Employee upon receipt of the General Release by the Company and be fully exercisable for a period of one year from the date of termination of the Employment.

2.9. The Termination Payment shall be the full and final settlement of any rights, payments or benefits to which the Employee is entitled under this Agreement and any other agreement or arrangement pursuant to which he is employed by the Company or any of its subsidiaries or affiliates other than:

2.9.1. benefits pursuant to any life, disability, health, or other insurance policy or benefit plan provided by the Company to which the Employee was a beneficiary on the date of termination of the Employment; and

2.9.2. stock options issued to the Employee pursuant to any stock option plan of the Company; and 2.10. The Employee shall not be entitled to the Termination Payment when the Employment is terminated in any of the following circumstances (the Employee being entitled, in such circumstances, only to payment for accrued and unused vacation, any payments to which he/she is otherwise entitled pursuant to life, disability, health or other insurance plan, and to exercise any stock option to the extent otherwise vested and exercisable under the terms of such plan and stock option agreements):

2.10.1. the conviction of the Employee of a felony involving dishonesty;

2.10.2. termination of the Employment by the Company for Good Cause. " Good Cause" shall mean (i) the Employee' s conviction of or guilty plea to the commission of an act or acts constituting a felony under the laws of the United States or any state thereof, (ii) action by the Employee involving personal dishonesty (including without limitation any failure to declare or pay income taxes in any jurisdiction in which the Employee shall be obligated to report income taxes and/or to pay such taxes), theft or fraud in connection with the Employee' s duties as an officer of the Company, or (iii) a breach of any one or more material terms of this Agreement (including but not limited to the confidentiality and non-solicitation provisions contained herein.)

Employment Agreement Jerry Ang Herrera

September 20, 2007

Page 3

2.10.3. any material breach by the Employee of the terms (other than material terms) of this Agreement that the Employee has failed to cure within 10 days of receipt of written notice of such breach from the Company;

2.10.4. the death of the Employee;

2.10.5. the inability of the Employee due to ill health or physical or mental condition to perform his / her duties and responsibilities in the ordinary and usual manner required of a person in the Employee' s position for 90 days in any six -month period;

2.10.6. the resignation by the Employee, except if such resigna ...