TECHNOLOGY RESEARCH AND DEVELOPMENT ALLOWANCE AGREEMENT between Taiwan Kolin Company Limited and Syntax Groups Corporation

EXHIBIT 10.60

TECHNOLOGY RESEARCH AND DEVELOPMENT
ALLOWANCE AGREEMENT
between
Taiwan Kolin Company Limited
and
Syntax Groups Corporation

This Agreement (“Agreement”) is made and entered into, by and between Taiwan Kolin Company Limited, incorporated in Taiwan, whose registered office is at 11/F No. 86, Section 1, Chung Ching South Road, Taipei, Taiwan (the “Manufacturer”), and Syntax Groups Corporation, incorporated in the State of California, the United States of America, whose registered office is at 20480 East Business Parkway, City of Industry, CA91789, U.S.A. (“Syntax”).

WHEREAS, Syntax designs various consumer electronic-related Products (as hereafter defined) for manufacture and distribution under and in connection with the trademarks and trade name, inter alia, ÖLEVIA ; and

WHEREAS, Manufacturer is a designer and manufacturer of Liquid Crystal Display (LCD) and Liquid Crystal On Silicon (LCOS) televisions and has in place the necessary facilities, permits, licenses and financing to satisfy Syntax’s requirements for such LCD and LCOS Products.

Pursuant to the Manufacturing Agreement dated March 9, 2004, Syntax has appointed the Manufacturer to manufacture the products in the consumer electronic field, which includes but not limited to the LCD/ LCOS TV product line. Currently, the Manufacturer is manufacturing 20,” 27” and 30” LCD TVs for Syntax and shall expand the product line to other sizes of LCD TV and LCOS TV from time to time agreed by both parties (the “Products”).

Following the execution of the Manufacturing Agreement, the research and development (R&D) teams of both parties have regularly conducted R&D meetings to exchange latest technological information and designs. To facilitate the R&D facilities and know-how provided by Syntax, the Manufacturer wishes to offer Syntax a technology research and development allowance (the

“Allowance”) for the compensation of the utilization of such facilities and know-how.

NOW, THEREFORE, in consideration of the mutual benefits to be derived from this Agreement, the receipt and sufficiency of which are hereto hereby agree as follows: