f8k062807ex10i_stonemtn.htm


    Agreement
      on Business Operations Between Zhejiang Kandi Vehicle Co., Ltd. & Zhejiang
      Yongkang Top Import & Export Co., Ltd.

    


    In
      order
      to enhance the cooperation relationship between Zhejiang Kandi Vehicle Co.,
      Ltd.(hereinafter referred as “Kandi”) and Yongkang Import & Export Co., Ltd.
      (hereinafter referred as “Yongkang”), to achieve win-win situation, after
      thorough consultation, the two sides have reached to an agreement on product
      price and payment and other business as follows:

    


    I
      Payment
      settlement: Production shall be carried out based on order that is a contract
      between the two sides. The two sides shall deal with payment according to
      settled prices on the agreement; Kandi shall sign and send back the order within
      one working day upon receipt of the order; if the products on the order is
      with
      standard configuration, the price can be settled as following price; sales
      to
      the domestic export trade companies or factories; invoice price will be
      indicated, Kandi shall provide invoice at the invoice price to export trade
      companies, while Kandi shall eventually settle with Yongkang at the following
      prices; according to provisions of the order, Yongkang shall make 83%
      of  the payment to Kandi immediately after receiving the customer’s
      deposit or full payment, and make the remaining of the payment after tax
      refund:

    


    Price
      settlement is as
      follows:         RMB:USD=1:
      7.8

    
      	
              Prodcut
                Model

            	
              Product
                name

            	
              PriceI(
                US$)

            	
              PriceII(
                US$)

            	
              Notes

            
	
              KD-49FM2

            	
              ATV

            	
                  357.69

            	
                  345.77

            	 
	
              KD-49FM3

            	
              ATV

            	
                  381.54

            	
                  369.62

            	 
	
              KD-150F

            	
              ATV

            	
                  870.38

            	
                  834.62

            	 
	
              KD-150GKA

            	
              ATV

            	
                  918.08

            	
                  858.46

            	 
	
              KD-150FS

            	
              ATV

            	
                  930.00

            	
                  894.23

            	 
	
              KD-150GKA-2

            	
              ATV

            	
                  965.77

            	
                  930.00

            	 
	
              KD-150GKC-2

            	
              ATV

            	
                  941.92

            	
                  906.15

            	 
	
              KD-250FS

            	
              ATV

            	
                1,347.31

            	
                1,287.69

            	 
	
              KD-250GKA-2

            	
              ATV

            	
              1,585.77

            	
              1,526.15

            	
              aluminum
                rim

            
	
              KD-250GKB-2

            	
              ATV

            	
              1,585.77

            	
              1,526.15

            	
              aluminum
                rim

            
	
              KD-250GKC-2

            	
              ATV

            	
                1,371.15

            	
                1,311.54

            	 
	
              KD-250GKD-2

            	
              ATV

            	
                2,146.15

            	
                2,086.54

            	 
	
              KD-970GKD-2

            	
              ATV

            	
                3,100.00

            	
                2,980.77

            	 
	
              KD-970GKE-2

            	
              ATV

            	
                3,338.46

            	
                3,219.23

            	 


    

    


    III
      The
      above price Clause II
      is for
      the American market and domestic export trade companies or factories, the price
      ClauseIis
      for
      other market.

     

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
 

    IV
      Extra
      price is added for separate additional configuration increased in customer
      demand.

    


    V
      Payment
      for small order for below five units products shall be settled with the factory
      at the sales price of Yongkang.

    


    VI
      The
      above prices are FOB tax-inclusive price.

    


    VII
      If there
      are new products or price changes, " Confirmed Bill for Product Price " (Annex)
      established by the two sides shall prevail.

    


    VIII
      If the
      RMB exchange rate changes, the price shall be settled by the two sides through
      negotiation.

     

    IX The
      price lists shall come into effect since October 1st, 2005.

     

    


    


    Zhejiang
      Kandi Vehicle Co.,
      Ltd                                                      Yongkang
      Import &
Export Co., Ltd

    Seal:                                                                                         Seal: