EQUICAP,
      INC.

    5528
      Westcott Circle

    Frederick,
      MD 21703

     

    March
      7,
      2007

    


    Thomas
      W.
      Colligan

    5528
      Westcott Circle

    Frederick,
      MD 21703

    


    Re:
      Indemnification as a Director of Equicap, Inc. 

    


    Dear
      Mr.
      Colligan:

    


    As
      you
      know, Equicap, Inc. (the “Corporation”)
      closed
      (the “Closing”)
      a
      share exchange transaction with Usunco Automotive Limited, today. You were
      a
      director and officer of the Corporation prior to the Closing. At the Closing,
      you tendered your resignation, effective immediately, from all offices that
      you
      hold with the Corporation, and from your position as a director of the
      Corporation, effective automatically as of the 10th
      day (the
“Interim
      Period”)
      following the date that the Corporation mails out an information statement
      to
      its stockholders that complies with Rule 14f-1 of the Securities Exchange Act
      of
      1934 and files the same with the Securities and Exchange Commission. Also at
      the
      Closing, Peter Wang was appointed as a director of the Corporation and as the
      Corporation’s Chairman and Chief Executive Officer.

    


    You
      have
      agreed to remain as a director of the Corporation during the Interim Period
      and
      to review and consider as a director of the Corporation certain actions that
      the
      Corporation plans to take, including, without limitation, the filing of a
      Registration Statement on Form S-1 covering the resale of certain securities
      on
      behalf of certain stockholders of the Corporation (the “Registration
      Statement”),
      if
      the Registration Statement is filed during the Interim Period.

    


    In
      consideration for your agreement to remain as a director of the Corporation
      during the Interim Period, the Corporation agrees to indemnify you as specified
      below.

    


    1. Indemnification.
      The
      Corporation shall indemnify, defend and hold you harmless from and against
      any
      damages, liabilities, losses, taxes, fines, penalties, proceedings, suits,
      damages, deficiencies, costs, and expenses (including, without limitation,
      interest at the highest rate permitted by law, reasonable fees of counsel)
      of
      any kind or nature whatsoever (whether or not arising out of third-party claims
      and including all amounts paid in investigation, defense or settlement of the
      foregoing) (collectively, “Losses”),
      which
      may be sustained or suffered by you arising out of or in connection with any
      of
      the following matters:

     

    (a) Any
      action that you take during the Interim Period on behalf of the Corporation
      as a
      director of the Corporation or as an agent of the Corporation at the direction
      of the board of directors; and

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    (b) Your
      execution and delivery of any board consents, information statements, reports
      or
      other documents filed with the U.S. Securities and Exchange Commission.,
      including the Registration Statement on behalf of the Corporation.

     

    2. Limitation
      on Indemnification.
      Notwithstanding the foregoing, the indemnification obligations of the
      Corporation will not apply to any Losses that arise as the result of your
      willful misconduct or gross negligence nor shall it apply to Losses arising
      from
      information provided to the Corporation or its agents in writing by your
      affiliates for inclusion in the Registration Statement. Furthermore, the
      indemnification obligations of the Corporation shall not affect any obligations
      that you or any of your affiliates may have to indemnify the Corporation as
      a
      result of information contained in the Registration Statement regarding your
      affiliate’s participation in the offering as a selling stockholder.

     

    3. Governing
      Law and Consent to Jurisdiction.
      This
      Agreement shall be construed under and governed by the internal laws of the
      State of New York without regard to its conflict of laws provisions. All actions
      and proceedings arising out of or relating to this Agreement shall be heard
      and
      determined in a New York federal court and each of the parties hereto (i) waives
      any objection which such party may now or hereafter have to the venue for any
      such action or proceeding and (ii) irrevocably and unconditionally accepts,
      with
      regard to any such action or proceeding, the personal jurisdiction of such
      courts and waives any defense or objection that it might otherwise have to
      such
      court’s exercise of personal jurisdiction with respect to it. A final judgment
      in any such action or proceeding shall be conclusive and may be enforced in
      another jurisdictions by suit on the judgment or in any other manner provided
      by
      law. Nothing herein contained shall be deemed to affect the right of any party
      to serve process in any manner permitted by law or, if any action or proceeding
      cannot be instituted in any federal court in New York to commence any such
      legal
      proceedings or otherwise proceed against any other party in any other
      jurisdiction.

     

    4. Modifications;
      Waiver.
      This
      Agreement may not be altered or modified without the express prior written
      consent of the parties hereto. No course of conduct shall constitute a waiver
      of
      any terms or conditions of this Agreement, unless such waiver is specified
      in
      writing, and then only to the extent so specified. A waiver of any of the terms
      and conditions of this Agreement on one occasion shall not constitute a waiver
      of the other terms of this Agreement, or of such terms and conditions on any
      other occasion.

     

    5. Severability.
      Whenever possible, each provision of this Agreement shall be interpreted in
      such
      a manner as to be effective and valid under applicable law, but if any provision
      of this Agreement shall be deemed prohibited or invalid under such applicable
      law, such provision shall be ineffective to the extent of such prohibition
      or
      invalidity, and such prohibition or invalidity shall not invalidate the
      remainder of such provision or the other provisions of this Agreement. Nothing
      contained herein shall be deemed to prohibit any party from seeking equitable
      relief, such as specific performance or other similar remedies, from a court
      of
      competent jurisdiction.

     

    
      
         

      

      
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    6. Counterparts;
      Facsimile Execution.
      This
      Agreement may be executed in two or more counterparts, each of which shall
      be
      deemed an original, and all of which together shall constitute one and the
      same
      instrument. Facsimile execution and delivery of this Agreement is legal, valid
      and binding for all purposes.

     

    
      	 	 	 
	 	
              Sincerely,

               

              
                Equicap,
                  Inc.

              

            
	 
 	 
 	 
 
	 	By:  	 
	 	
              
Name:

	 	Title:


    

     

    
      
         

      

      
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