Document:

Exhibit 10.1

 

SUBSCRIPTION
AGREEMENT

 

SUBSCRIPTION
AGREEMENT (this “Agreement”)
made as of this 10th day of February, 2010, between Deerfield Resources, Ltd., a Nevada corporation (the “Company”),
and the undersigned (the “Subscriber”).

 

RECITALS

 

A.           Pursuant
to a Confidential Private Placement Memorandum dated January 14, 2010 (the “PPM”),
the Company is offering in a private placement (the “Offering”)
to accredited investors a minimum of 50 Units (the “Minimum
Offering”) and a maximum of 80 Units (the “Maximum
Offering”) at a purchase price of $125,000 per Unit, or up to 96 Units if the Company elects to accept over-subscriptions,
with each Unit (the “Units”)
consisting of 100,000 shares of the Company’s common
stock, par value $.001 per share (the “Common
Stock”), and a five-year detachable warrant (the “Warrant”)
to purchase 50,000 shares of Common Stock with an exercise price of $1.60 per share. The Common Stock and Warrants comprising
the Units, and the shares of Common Stock underlying the Warrants are collectively referred to as the Securities.”

 

B.           The
Subscriber desires to purchase from the Company the number of Units set forth on the signature page hereof, on the terms and conditions
hereinafter set forth.

 

C.           The
Company and the Subscriber are executing and delivering this Agreement in reliance upon the exemption from securities registration
afforded by the provisions of Regulation D (“Regulation
D”) promulgated by the United States Securities and Exchange Commission under the Securities Act of 1933, as amended
(the “Securities Act”).

 

D.           Contemporaneously
with the termination of the Offering, the parties hereto will execute and deliver (i) a Registration Rights Agreement (the “Registration
Rights Agreement”) substantially in the form of Exhibit
A attached hereto, to provide for certain registration rights with respect to the Securities; (ii) the Warrants, substantially
in the form of Exhibit R, and (iii)
the Lock-up Agreement (the “Lock-up
Agreement”), substantially in the form of Exhibit
C hereto. This Agreement, the Registration Rights Agreement, the Warrants and the Lock-up Agreement, are collectively
referred to as the “Transaction
Documents.”

 

AGREEMENT

 

NOW,
THEREFORE, for and in consideration of the premises and the mutual covenants hereinafter set forth, and for other good and valuable
consideration, the receipt and adequacy of which are hereby acknowledged, the parties hereto do hereby agree as follows:

 

ARTICLE I.

SUBSCRIPTION
FOR AND

REPRESENTATIONS
AND COVENANTS OF SUBSCRIBER

 

1.1           Subject
to the terms and conditions hereinafter set forth, the Subscriber hereby subscribes for, and agrees to purchase from, the Company
such number of Units set forth upon the signature page hereof, at a price equal to $125,000 per Unit (the “Purchase
Price”), and the Company agrees to sell such Units to the Subscriber for the Purchase Price, subject to the Company’s
right to sell to the Subscriber a lesser number of Units as the Company may, in its sole discretion, deem necessary or desirable.
The purchase price is payable by wire transfer of immediately available funds, pursuant to the wire instructions attached hereto
as Exhibit D to Bank of North
Georgia as escrow agent (the “Escrow
Agent”) to the Company.

 

    	 

    	 

    

 

1.2           The
Subscriber recognizes that the purchase of the Units involves a high degree of risk in that: (i) an investment in the Company is
highly speculative and only investors who can afford the loss of their entire investment should consider investing in the Company
and the Units; (ii) the Securities are not registered under the Securities Act, or any state securities law; (iii) there is no
trading market for the Securities, none is likely ever to develop, and the Subscriber may not be able to liquidate his, her or
its investment in the Company; (iv) transferability of the Securities is extremely limited; and (v) an investor could suffer the
loss of his, her or its entire investment.

 

1.3           If
the Subscriber is a business entity, it is an entity duly organized, validly existing and in good standing under the laws of the
jurisdiction of its organization with the requisite corporate or partnership power and authority to enter into and to consummate
the transactions contemplated by this Agreement and otherwise to carry out its obligations thereunder. The execution, delivery
and performance by the Subscriber of the transactions contemplated by this Agreement has been duly authorized by all necessary
corporate or, if the Subscriber is not a corporation, such partnership, limited liability company or other applicable like action,
on the part of such Subscriber. This Transaction Documents to which the Subscriber is a party has been duly executed by the Subscriber,
and when delivered in accordance with the terms hereof, will constitute the valid and legally binding obligation of the Subscriber,
enforceable against it in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency,
reorganization, moratorium, liquidation or similar laws relating to, or affecting generally the enforcement of, creditors’
rights and remedies or by other equitable principles of general application.

 

1.4           The
Subscriber is an “accredited investor,” as such term in defined in Rule 501(a) of Regulation D, and the Subscriber
is able to bear the economic risk of an investment in the Securities. The Subscriber is not a registered broker dealer under Section
15 of the Exchange Act.

 

1.5           The
Subscriber has prior investment experience (including investment in non-listed and non-registered securities), and has read and
evaluated, or has employed the services of an investment advisor, attorney or accountant to read and evaluate, all of the documents
furnished or made available by the Company to the Subscriber and to all other prospective investors in the Securities, including
the PPM, as well as the merits and risks of such an investment by the Subscriber. The Subscriber’s overall commitment to
investments which are not readily marketable is not disproportionate to the Subscriber’s net worth, and the Subscriber’s
investment in the Securities will not cause such overall commitment
to become excessive. The Subscriber, if an individual, has adequate means of providing for his or her current needs and personal
and family contingencies and has no need for liquidity in his or her investment in the Securities. The Subscriber is financially
able to bear the economic risk of this investment, including the ability to afford holding the Securities for an indefinite period
or a complete loss of this investment.

 

1.6           The
Subscriber is not purchasing the Units as a result of any advertisement, article, notice or other communication regarding the Units
published in any newspaper, magazine or similar media or broadcast over television or radio. The Subscriber has not directly or
indirectly, nor has any person or entity acting on behalf of or pursuant to any understanding with the Subscriber, engaged in any
transactions in the securities of the Company (including any short sales involving the Company’s securities) since the time
that the Subscriber was first contacted by the Company, the placement agent, or any other person or entity acting on behalf of
the Company regarding the investment in the Company contemplated by this Agreement. The Subscriber covenants that neither it nor
any person or entity acting on its behalf or pursuant to any understanding with it will engage in any transactions in the securities
of the Company (including short sales) prior to the time that the transactions contemplated by this Agreement are publicly disclosed.

 

    	 

    	 

    

 

1.7           The
Subscriber acknowledges receipt and careful review of the PPM, all supplements to the PPM, and all other documents furnished in
connection with this transaction by the Company (collectively, the “Offering
Documents”) and has been furnished by the Company during the course of this transaction with all information regarding
the Company which the Subscriber has requested or desires to know; and the Subscriber has been afforded the opportunity to ask
questions of and receive answers from duly authorized officers or other representatives of the Company concerning the terms and
conditions of the Offering, and any additional information which the Subscriber has requested.

 

1.8           The
Subscriber acknowledges that the purchase of the Securities may involve tax consequences to the Subscriber and that the contents
of the Offering Documents do not contain tax advice. The Subscriber acknowledges that the Subscriber must retain his, her or its
own professional advisors to evaluate the tax and other consequences to the Subscriber of an investment in the Securities. The
Subscriber acknowledges that it is the responsibility of the Subscriber to determine the appropriateness and the merits of a corporate
entity to own the Securities and the corporate structure of such entity.

 

1.9           The
Subscriber acknowledges that this Offering has not been reviewed by the Securities and Exchange Commission (the “SEC”)
or any state securities commission, and that no federal or state agency has made any finding or determination regarding the fairness
or merits of the Offering. The Subscriber represents that the Securities are being purchased for his, her or its own account, for
investment only, and not with a view toward distribution or resale to others. The Subscriber agrees that he, she or it will not
sell or otherwise transfer the Securities unless they are registered under the Securities Act or unless an exemption from such
registration is available.

 

1.10         The
Subscriber understands that the Securities have not been registered under the Securities Act by reason of a claimed
exemption under the provisions of the Securities Act which depends, in part, upon his, her or its investment intention. In this
connection, the Subscriber understands that it is the position of the SEC that the statutory basis for such exemption would not
be present if his, her or its representation merely meant that his, her or its present intention was to hold such securities for
a short period, such as the capital gains period of tax statutes, for a deferred sale, for a market rise, assuming that a market
develops, or for any other fixed period. The Subscriber realizes that, in the view of the SEC, a purchase now with an intent to
resell would represent a purchase with an intent inconsistent with his, her or its representation to the Company and the SEC might
regard such a sale or disposition as a deferred sale, for which such exemption is not available.

 

1.11         The
Subscriber agrees to indemnify and hold the Company, its directors, officers and controlling persons and their respective heirs,
representatives, successors and assigns harmless against all liabilities, costs and expenses incurred by them as a result of any
misrepresentation made by the Subscriber contained herein or any sale or distribution by the Subscriber in violation of the Securities
Act (including, without limitation, the rules promulgated thereunder), any state securities laws, or the Company’s Certificate
of Incorporation or By-laws, as amended from time to time.

 

1.12         The
Subscriber understands that the Securities must be held indefinitely unless such Securities are registered under the Securities
Act or an exemption from registration is available. The Subscriber acknowledges that it is familiar with Rule 144 promulgated by
the SEC pursuant to the Securities Act, and that the Subscriber has been advised that Rule 144 permits resales only under certain
circumstances. The Subscriber understands that to the extent that Rule 144 is not available, the Subscriber will be unable to sell
any Securities without either registration under the Securities Act or the existence of another exemption from such registration
requirement.

 

    	 

    	 

    

 

1.13         The
Subscriber understands that, when issued, the certificates representing the Securities will bear the following restrictive legend
(“Legend”):

 

NEITHER
THESE SECURITIES NOR THE SECURITIES ISSUABLE UPON CONVERSION OF THESE SECURITIES HAVE BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE
COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR PURSUANT TO AN AVAILABLE
EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH
APPLICABLE STATE SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL TO THE TRANSFEROR TO SUCH EFFECT, THE SUBSTANCE OF
WHICH SHALL BE REASONABLY ACCEPTABLE TO THE COMPANY. NOTWITHSTANDING THE FOREGOING, THE SECURITIES MAY BE PLEDGED IN CONNECTION
WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN OR REFINANCING ARRANGEMENT SECURED BY THE SECURITIES.

 

The
Subscriber understands that the Company will not permit transfer of such Securities unless the Subscriber (i) provides the Company
with an opinion of counsel reasonably satisfactory to the Company that registration by the Subscriber of the Units is not required
under the Securities Act, or (ii) transfers the Securities to an affiliate which is an accredited investor (in accordance with
the provisions of this Agreement) or in compliance with Rule 144.

 

1.14         The
Subscriber understands and agrees that its sale of the Securities, including those represented by a certificate (s) from which
the Legend has been removed, or which were originally issued without the Legend, shall be made only pursuant to an effective registration
statement (and to deliver a prospectus in connection with such sale) or in compliance with an exemption from the registration requirements
of the Securities Act. In the event the Legend is removed from any Securities or any Securities are issued without the Legend,
and thereafter the effectiveness of a registration statement covering the sales of such Securities is suspended or the Company
determines that a supplement or amendment thereto is required by applicable securities laws, then upon reasonable advance notice
to the holder of such Securities, the Company shall be entitled to require that the Legend be placed upon any such Securities which
cannot then be sold pursuant to an effective registration statement or Rule 144 or with respect to which the opinion referred to
in clause (ii) of Section 1.10 has not been rendered, which Legend shall be removed when such Securities may be sold pursuant to
an effective registration statement or Rule 144 (or such holder provides the opinion with respect thereto described in clause (ii)
of Section 1.10. The Subscriber understands that the Company is under no obligation to comply with the conditions of Rule 144 or
take any other action necessary in order to make available any exemption from registration for the sale of the Securities.

 

1.15         The
Subscriber understands that the Company will review and rely on this Subscription Agreement without making any independent investigation;
and it is agreed that the Company reserves the unrestricted right to reject or limit any subscription and to withdraw the Offering
at any time.

 

1.16         The
Subscriber hereby represents that the address of the Subscriber furnished at the end of this Subscription Agreement is the undersigned’s
principal residence, if the Subscriber is an individual or its principal business address if it is a corporation or other entity.

 

    	 

    	 

    

 

1.17         The
Subscriber hereby acknowledges that neither the Company nor any persons associated with the Company who may provide assistance
or advice in connection with the Offering (other than the placement agent, if one is engaged by the Company) are or are expected
to be members or associated persons of members of the Financial Industry Regulatory Authority, Inc. or a registered broker dealer
under Section 15 of the Exchange Act.

 

1.18         The
Subscriber understands that, pursuant to the terms of the Offering as set forth in the PPM, the Company must receive subscriptions
for 50 Units for an aggregate purchase price of $6,250,000 in order to close on the sale of any Units and that persons affiliated
with the Company or its consultants, advisors, or placement agents may subscribe for Common
Stock, in which case the Company may accept subscriptions from such affiliated parties in order to reach the Minimum
Offering; and that, accordingly, no investor should conclude that achieving the Minimum
Offering is the result of any independent assessment of the merits or advantages of the Offering or the Company made by Subscribers
in the Minimum Offering.

 

1.19         The
Subscriber has independently evaluated the merits of its decision to purchase the Units pursuant to the Transaction Documents and
confirms that it has not relied on the advice of any other Subscriber’s business and/or legal counsel in making such decision.
The Subscriber hereby represents that, except as expressly set forth in the Offering Documents, no representations or warranties
have been made to the Subscriber by the Company or any agent, employee or affiliate of the Company. In entering into this transaction,
the Subscriber has not relied on the business or legal advice of the placement agent or any of its agents, counsel, or affiliates
in making its investment decision hereunder, and confirms that none of such persons or entities has made any representations or
warranties to the Subscriber in connection with the transactions contemplated by the Transaction Documents.

 

1.20         All
information provided by the Subscriber in the Investor Questionnaire attached as Exhibit
E hereto, is true and accurate in all respects. The Subscriber understands that the Units are being offered and sold
in reliance on a transactional exemption from the registration requirements of federal and state securities laws and the Company
is relying upon the truth and accuracy of the representations, warranties, agreements, acknowledgments and understandings of the
Subscriber set forth herein in order to determine the applicability of such exemptions and the suitability of the Subscriber to
acquire the Securities. The Subscriber understands that no United States federal or state agency or any governmental authority
has passed upon or made any recommendation
or endorsement of the Securities.

 

1.21         If
the Subscriber is not a U.S. Person (as such term is defined in Section 902(a) of Regulation S), the Subscriber (i) acknowledges
that the certificate(s) representing or evidencing the Securities contain a customary restrictive legend restricting the offer,
sale or transfer of any Securities except in accordance with the provisions of Regulation S, pursuant to registration under the
Securities Act, or pursuant to an available exemption from registration, (ii) agrees that all offers and sales by the Subscriber
of Securities shall be made pursuant to an effective registration statement under the Securities Act or pursuant to an exemption
from, or a transaction not subject to the registration requirements of, the Securities Act, (iii) represents that the offer to
purchase the Securities was made to the Subscriber outside of the United States, and the Subscriber was, at the time of the offer
and will be, at the time of the sale and is now, outside the United States, (iv) has not engaged in or directed any unsolicited
offers to purchase Securities in the United States, (v) is neither a U.S. Person nor a Distributor (as such terms are defined
in Section 902(a) and 902(c), respectively, of Regulation S), (vi) has purchased the Securities for its own account and not for
the account or benefit of any U.S. Person, (vii) is the sole beneficial owner of the Units set forth on the signature page hereof,
and has not pre-arranged any sale with a Subscriber in the United States, and (viii) is familiar
with and understands the terms and conditions and requirements contained in Regulation S, specifically, without limitation, each
Subscriber understands that the statutory basis for the exemption claimed for the sale of the Securities would not be present
if the sale, although in technical compliance
with Regulation S, is part of a plan or scheme to evade the registration provisions of the Securities Act.

 

    	 

    	 

    

 

ARTICLE II.

REPRESENTATIONS
BY THE COMPANY

 

2.1           The
Company is a corporation duly incorporated, validly existing and in good standing under the laws of the State of Nevada and has
the corporate power to conduct the business which it conducts and proposes to conduct.

 

2.2           The
execution, delivery and performance of this Subscription Agreement by the Company has been duly authorized by the Company and all
other corporate action required to authorize and consummate the offer and sale of the Units has been duly taken and approved.

 

2.3           The
Securities have been duly and validly authorized and issued.

 

2.4           The
Company has obtained, or is in the process of obtaining, all licenses, permits and other governmental authorizations necessary
for the conduct of its business, except where the failure to so obtain such licenses, permits and authorizations would not have
a material adverse effect on the Company. Such licenses, permits and other governmental authorizations which have been obtained
are in full force and effect, except where the failure to be so would not have a material adverse effect on the Company, and the
Company is in all material respects complying therewith.

 

2.5           The
Company knows of no pending or threatened legal or governmental proceedings to which the Company is a party which would materially
adversely affect the business, financial condition or operations of the Company.

 

2.6           The
Company is not in violation of or default under, nor will the execution and delivery of this Subscription Agreement or the issuance
of the Common Stock, or the consummation
of the transactions herein contemplated, result in a violation of, or constitute a default under, the Company’s Certificate
of Incorporation or By-laws, any material obligations, agreements, covenants or conditions contained in any bond, debenture, note
or other evidence of indebtedness or in any material contract, indenture, mortgage, loan agreement, lease, joint venture or other
agreement or instrument to which the Company is a party or by which it or any of its properties may be bound or any material order,
rule, regulation, writ, injunction, or decree of any government, governmental instrumentality or court, domestic or foreign.

 

ARTICLE III.

COVENANTS
BY THE COMPANY

 

3.1           The
Company agrees to file a Form D with respect to the Securities as required under Regulation D and shall make all filings and reports
relating to the offer and sale of the Securities by the Company and to the resale of the Securities by the Subscriber required
under applicable securities or “Blue Sky” laws of the states of the United States promptly following the Termination
Date (as defined in Section 4.1 hereof).

 

3.2           The
Company maintain its status as an issuer required to file reports under the Exchange Act and shall timely file (or obtain extensions
in respect thereof and file within the applicable grace period) all reports required to be filed by the Company after the date
hereof pursuant to the Exchange Act and shall disclose in the Registration Statement contemplated by the Registration Rights Agreement,
any material, nonpublic information provided to the holder of the Securities except to the extent previously disclosed or the Company
determines that such information is no longer material.

 

    	 

    	 

    

 

3.3           The
Company acknowledges and agrees that the Securities may be pledged by a Holder (as defined in the Registration Rights Agreement)
in connection with a bona fide margin agreement or other loan or financing arrangement that is secured by the Securities. The pledge
of Securities shall not be deemed to be a transfer, sale or assignment of the Securities hereunder, and no Subscriber effecting
a pledge of Securities shall be required to provide the Company with any notice thereof or otherwise make any delivery to the Company
pursuant to this Agreement or any other Transaction Document; provided that Subscriber and its pledgee shall be required to comply
with the provisions hereof in order to effect a sale, transfer or assignment of Securities to such pledgee.

 

3.4           The
proceeds from the sale of the Securities contemplated hereby shall be used by the Company for general corporate purposes.

 

3.5           On
or before 5:30 p.m., Eastern Time, within four business days following the date of this Agreement, the Company shall issue a press
release and file a Current Report on Form 8-K describing the terms of the transactions contemplated by the Transaction Documents
in the form required by the Exchange Act and reasonably acceptable to the Subscriber, which shall attach the material Transaction
Documents (including, without limitation, this Agreement and all schedules thereto, the form of Warrant, the form of the Registration
Rights Agreement and any other documents or agreements to be executed in connection with the transactions contemplated hereunder)
as exhibits to such filing.

 

3.6           The
business of the Company and its subsidiaries shall not be conducted in violation of any law, ordinance or regulation of any governmental
entity, except where such violations would not result, either individually or in the aggregate, in a material adverse effect on
the business and operations of the Company.

 

3.7           The
Company shall be responsible for the payment of any agent’s fees relating to or arising out of the transactions contemplated
hereby, including, without limitation, any commissions payable to placement agent; provided, however, that each Subscriber shall
be responsible for the payment of his, her or its own independent legal fees.

 

3.8           The
Company agrees to adopt a stock incentive plan within 90 days of the Termination Date, pursuant to which 3,250,000 shares of the
Company’s Common Stock will be reserved for issuance to employees, directors, consultants, and other service providers.

 

3.9           If
the Company accepts the subscription of the Subscriber in accordance with Article IV hereof, then, on or prior to the Termination
Date (defined below), the Company agrees (i) to deliver to the Subscriber a Make Good Escrow Agreement, substantially in the form
of Exhibit F attached hereto, and
duly executed by the parties thereto, and (ii) that the Escrow Shares (as defined in the Make Good Escrow Agreement) shall have
been deposited into the escrow account pursuant to the terms of the Make Good Escrow Agreement.

 

ARTICLE IV.

TERMS OF
SUBSCRIPTION

 

4.1           Subject
to Section 4.2 hereof, the subscription period will begin as of the date of the PPM and will terminate at 11:59 PM Eastern Time,
on the earlier of the date on which the Maximum Offering is sold or February 5, 2010 (the “Termination
Date”); provided, however, that the Termination Date may be extended by up to an additional thirty (30) days by
the Company. The minimum subscription amount is $125,000, although the Company may, in its discretion, accept subscriptions for
less than $125,000.

 

    	 

    	 

    

 

4.2           The
Subscriber shall effect a wire transfer in the full amount of the purchase price for the Units to the Company’s escrow account
in accordance with the wire instructions attached as Exhibit
D hereto.

 

4.3           All
funds paid hereunder shall be held in escrow by the Escrow Agent until the Termination Date. If the Company has not obtained subscriptions
(including this subscription) for the Minimum
Offering on or before the Termination Date (as such date may be extended by the Company), then this subscription shall be void
and all funds paid hereunder by the Subscriber shall be promptly returned without interest to the Subscriber, to the same account
from which the funds were drawn. If subscriptions for the Minimum Offering are received and accepted and payment tendered therefor
on or prior to the Termination Date,
then all subscription proceeds (less fees and expenses agreed on by the Company) shall be paid over to the Company on the earlier
of (a) three (3) days following the receipt of all fully paid funds in connection with the Minimum
Offering or (b) three (3) days following the date that the fully paid funds received in escrow in connection with the Minimum
Offering equals or exceeds $6,250,000. In such event, sales of the Units may continue thereafter until the earlier of the date
on which the Maximum Offering is sold and the Termination Date, with subsequent releases of funds by the Escrow Agent, from time
to time, at the discretion of the Company.

 

4.4           The
Subscriber hereby authorizes and directs the Company and the Escrow Agent to deliver any certificates or other written instruments
representing the Units to be issued to such Subscriber pursuant to this Subscription Agreement to the address indicated on the
signature page hereof.

 

4.5           The
Subscriber hereby authorizes and directs the Company and the Escrow Agent to return any funds, without interest, for unaccepted
subscriptions to the same account from which the funds were drawn.

 

4.6           If
the Subscriber is not a United States person, such Subscriber shall immediately notify the Company and the Subscriber hereby represents
that the Subscriber is satisfied as to the full observance of the laws of its jurisdiction in connection with any invitation to
subscribe for the Units or any use of this Subscription Agreement, including (i) the legal requirements within its jurisdiction
for the purchase of the Units, (ii) any foreign exchange restrictions applicable to such purchase, (iii) any governmental or other
consents that may need to be obtained, and (iv) the income tax and other tax consequences, if any, that may be relevant to the
purchase, holding, redemption, sale or transfer of the Units. Such Subscriber’s subscription and payment for, and continued
beneficial ownership of, the Units will not violate any applicable securities or other laws of the Subscriber’s jurisdiction.

 

ARTICLE V.

MISCELLANEOUS

 

5.1           Any
notice or other communication or deliveries required or permitted to be provided hereunder shall be in writing and shall be deemed
given and effective on the earliest of (a) the date of transmission, if such notice or communication is delivered via facsimile
at the facsimile number specified in
this Section prior to 5:30 p.m. (Eastern Time) on a Business Day, (b) the next business day after the date of transmission, if
such notice or communication is delivered via facsimile
at the facsimile number specified in
this Section on a day that is not a business day or later than 5:30 p.m. (Eastern Time) on any date and earlier than 11:59 p.m.
(Eastern Time) on such date, (c) the business day following the date of mailing, if sent by U.S. nationally recognized overnight
courier service, or (d) upon actual receipt by the party to whom such notice is required to be given. The address for such notices
and communications shall be as follows:

 

    	 

    	 

    

 

	If to the Company:	SanJun Industrial Park, HuaWang Road
	 	Dalang, Longhua Town
	 	Shenzhen, 518109, China
	 	Fax: +86-755-2810 9421
	 	Attention: Chief Executive Officer

 

	with a copy (for	Pillsbury Winthrop Shaw Pittman LLP
	informational	50 Fremont Street
	purpose only) to:	San Francisco, CA 94105-2228
	 	Tel: 415.983.1523
	 	Fax: 415.983.1200
	 	Attention: Scott C. Kline

 

	If to the Holder:	To the address set forth on such Holder’s signature page hereto.

 

or such other
address as may be designated in writing hereafter, in the same manner, by such Person.

 

5.2           This
Subscription Agreement shall not be changed, modified or amended except by a writing signed by both (a) the Company and (b) subscribers
in the Offering holding a majority of the Units issued in the Offering.

 

5.3           This
Subscription Agreement shall be binding upon and inure to the benefit of the parties hereto and to their respective heirs, legal
representatives, successors and assigns. This Subscription Agreement sets forth the entire agreement and understanding between
the parties as to the subject matter hereof and merges and supersedes all prior discussions, agreements and understandings of any
and every nature among them.

 

5.4           All
questions concerning the construction, validity, enforcement and interpretation of this Agreement shall be governed by and construed
and enforced in accordance with the internal laws of the State of New York, without regard to the principles of conflicts of law
thereof. Each party agrees that all proceedings concerning the interpretations, enforcement and defense of the transactions contemplated
by this Agreement and any other Transaction Documents (whether brought against a party hereto or its respective affiliates, employees
or agents) shall be commenced exclusively in the New York Courts. Each party hereto hereby irrevocably submits to the exclusive
jurisdiction of the New York Courts for the adjudication of any dispute hereunder or in connection herewith or with any transaction
contemplated hereby or discussed herein (including with respect to the enforcement of any of the Transaction Documents), and hereby
irrevocably waives, and agrees not to assert in any proceeding, any claim that it is not personally subject to the jurisdiction
of any such New York Court, or that such proceeding has been commenced in an improper or inconvenient forum. Each party hereto
hereby irrevocably waives personal service of process and consents to process being served in any such proceeding by mailing a
copy thereof via registered or certified mail or overnight delivery (with evidence of delivery) to such party at the address in
effect for notices to it under this Agreement and agrees that such service shall constitute good and sufficient service of process
and notice thereof. Nothing contained herein shall be deemed to limit in any way any right to serve process in any manner permitted
by law. Each party hereto hereby irrevocably waives, to the fullest extent permitted by applicable law, any and all right to trial
by jury in any legal proceeding arising out of or relating to this Agreement or the transactions contemplated hereby. If either
party shall commence a proceeding to
enforce any provisions of a Transaction Document, then the prevailing party in such proceeding shall be reimbursed by the other
party for its reasonable attorneys’ fees and other costs and expenses incurred with the investigation, preparation and prosecution
of such proceeding.

 

    	 

    	 

    

 

5.5           This
Subscription Agreement may be executed in counterparts. Upon the execution and delivery of this Subscription Agreement by the Subscriber,
this Subscription Agreement shall become a binding obligation of the Subscriber with respect to the purchase of Units as herein
provided; subject, however, to the right hereby reserved by the Company to (i) enter into the same agreements with other subscribers,
(ii) add and/or delete other persons as subscribers and (iii) reduce the amount of or reject any subscription.

 

5.6           The
holding of any provision of this Subscription Agreement to be invalid or unenforceable by a court of competent jurisdiction shall
not affect any other provision of this Subscription Agreement, which shall remain in full force and effect.

 

5.7           It
is agreed that a waiver by either party of a breach of any provision of this Subscription Agreement shall not operate or be construed
as a waiver of any subsequent breach by that same party.

 

5.8           The
parties agree to execute and deliver all such further documents, agreements and instruments and take such other and further actions
as may be necessary or appropriate to carry out the purposes and intent of this Subscription Agreement.

 

[Signature
Pages Follow]

 

    	 

    	 

    

 

IN WITNESS
WHEREOF, the parties have executed this Subscription Agreement as of the day and year first written above.

 

	_______________________X $125,000 for each Unit = $._________________.
	Number of Units subscribed for	Aggregate Purchase Price

 

Maimer in
which Title is to be held (Please Check One):

 

	1.	 	Individual	 	7.	 	Trust/Estate/Pension or Profit Sharing Plan Date
	___	 	 	 	___	 	Opened: _____________
	 	 	 	 	 	 	 
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	___	 	 	 	___	 	Act of the State of  _____________
	 	 	 	 	 	 	 
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	___	 	 	 	___	 	 
	 	 	 	 	 	 	 
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	___	 	 	 	___	 	 
	 	 	 	 	 	 	 
	6.	 	IRA	 	12.	 	Foundation described in Section 501(c)(3) of the
	___	 	 	 	___	 	Internal Revenue Code of 1986, as amended.

 

IF MORE THAN
ONE SUBSCRIBER, EACH SUBSCRIBER MUST SIGN:

 

  (a) INDIVIDUAL
SUBSCRIBERS MUST COMPLETE PAGE A-10

  (b) SUBSCRIBERS
WHICH ARE ENTITIES MUST COMPLETE PAGE A-11

 

    	 

    	 

    

 

EXECUTION BY
NATURAL PERSONS

 

	 	 	 
	Exact Name in Which Title is to be Held	 	 
	 	 	 
	 	 	 
	Name (Please Print)	 	Name of Additional Subscriber
	 	 	 
	 	 	 
	Residence: Number and Street	 	Address of Additional Subscriber
	 	 	 
	 	 	 
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	(Signature)	 	(Signature of Additional Subscriber)

 

    	 

    	 

    

 

EXECUTION BY
SUBSCRIBER WHICH IS AN ENTITY

 

(Corporation,
Partnership, Trust, Etc.)

 

 

Name of Entity
(Please Print)

 

Date of Incorporation
or Organization: ___________________________

 

State of Principal
Office:  ______________________________________

 

Federal Taxpayer
Identification Number: _________________________

 

	 	 
	Office Address	 
	 	 
	 	 
	City, State and Zip Code	 
	 	 
	 	 
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	Fax Number (if available)	 
	 	 
	 	 
	E-Mail (if available)	 

 

	[seal]	By: 	     
	 	 	 
	 	Name:
	 	Title:

 

	Attest:_______________________	 
	(If Entity is a Corporation)	 

 

*If Subscriber
is a Registered Representative with a FINRA member firm, have the following acknowledgement signed by the appropriate party:

 

The undersigned
FINRA member firm acknowledges receipt of the notice required by Rule 3050 of the FINRA Conduct Rules

 

	 	 	 
	Name of FINRA Firm	 
	 	 	 
	By:  	     	 
	 	 	 
	Name:	 
	Title:	 

 

    	 

    	 

    

 

	 	COMPANY:
	 	 	 
	 	DEERFIELD RESOURCES, LTD.
	 	 	 
	 	By: 	           
	 	Name: Xiangjun Liu
	 	Title: Chief Executive Officer

 

[COMPANY
SIGNATURE PAGE TO SUBSCRIPTION AGREEMENT]Exhibit 10.2

 

(English
Translation)

 

Equity
Transfer Agreement

 

The transferors:

Henian Wu (
“Party A” )

Domicile: No.
142, Friendship Street, Wenquan Town, Yingshan County, Hubei Province

ID No.: 422126196309072018

 

Zongfu Wang
( “Party B” )

Domicile: No.
141, Jinfu Pavilion, Jinyuan Building, No. 3008, South Bao'an Road, Luohu District, Shenzhen City,

Guangdong Province

ID No.: 440303196404243717

 

Junbiao Huang
( “Party C” )

Domicile: Qianshan
Neighborhood Committee, Xiangzhou District, Zhuhai city, Guangdong Province

 

The transferee:

Good Wealth
Capital Investment Limited ( “Party D” )

Registered
domicile: Workshop No. 10,6/F, Hewlett Centre, No. 52-54 Hoi Yuen Road, Kwun Tong, Kowloon.

 

Whereas:

 

Shenzhen
TMK Power Industries Ltd. (the “Company” ) was established by Party A and Party B and Party C in Shenzhen on September
3, 2001, with a registered capital of RMB 10,000,000 (ten million Yuan). Party A holds 58% and Party B holds 30% and Party C holds
12% of the Company's equity.

 

Party A
agrees to transfer 58% of the equity of Company to Party D and Party D agrees to purchase the said equity.

 

Party B
agrees to transfer 30% of the equity of Company to Party D and Party D agrees to purchase the said equity.

 

Party C
agrees to transfer 12% of the equity of Company to Party D and Party D agrees to purchase the said equity.

 

Party A,
Party B, Party C and Party D entered into an equity transfer agreement on September 25, 2008 (the “Original Agreement”
).

 

Party A,
Party B, Party C and Party D have agreed to reach this agreement.

 

After consultation,
as provided by Company Law of the People's Republic of China and Contract Law of the People's Republic of China, the parties agree
as follows:

 

    	1

    	 

    

 

Article
1 Transfer price and payment terms

 

1.          Party
A holds 58% of the equity of Company, and according to Articles of Association of Company ( “AOA of Company” ), Party
A shall make capital contributions in RMB 5,800,000 (five million and eight hundred thousand Yuan), and Party A has made capital
contributions as specified in AOA of Company. Party A agrees to transfer his total equity to Party D and Party D agrees to purchase
such equity.

 

Party
B holds 30% of the equity of Company, and according to AOA of Company, Party B shall make capital contributions in RMB
3,000,000 (three million Yuan), and Party B has made capital contributions as specified in AOA of Company. Party B agrees to
transfer his total equity to Party D and Party D agrees to purchase such equity.

 

Party C holds 12% of the equity of Company,
and according to AOA of Company, Party C shall make capital contributions in RMB 1,200,000 (one million and two hundred
thousand Yuan), and Party C has made capital contributions as specified in AOA of Company. Party C agrees to transfer his
total equity to Party D and Party D agrees to purchase such equity.

 

2.          Party
A, Party B, Party C and Party D agree that the purchase price of the equity transferred by Party A and Party B and Party C to
Party D shall be determined in accordance with the Assets Valuation Report issued by Shenzhen Yong - Rui Letter and Assets
Evaluation Ltd. on September 25, 2008. The purchase price payable by Party D to Party A for acquiring the 58% equity of the
Company shall be USD875,800 (eight hundred and seventy-five thousand, eight hundred Dollars) and the purchase price payable
by Party D to Party B for acquiring the 30% equity of the Company shall be USD 453,000 (four hundred and fifty-three thousand
Dollars) and the purchase price payable by Party D to Party C for acquiring the 12% equity of the Company shall be USD
181,200 (one hundred and eighty-one thousand, two hundred dollars).

 

Party D
shall make lump sum payments to Party A and Party B and Party C of USD1,510,000 by bank transfer or by cash; each of such payments
shall be made within sixty days upon the effective date of this agreement.

 

Article
2 Transferors' warranties

 

Party
A and Party B and Party C warrant that they have full disposition right of the transferred equity, that the transferred equity
is free from liens and claims of any third
parties, and that the transferred equity is not seized by government. Otherwise, Party A and Party B and Party C shall undertake
all economic and legal responsibilities arising from the violation of above warranties.

 

Article
3 Sharing of Company's loss and profits (including creditor's and debt)

 

1.          After
this agreement takes effect, Party D has the right to share Company profits and undertake the corresponding risk and loss according
to the proportion of equity.

 

2.          If
Party A and Party B and Party C have not truthfully informed Party D of the debts that Company undertakes before the transfer of
equity, as a result, Party D suffers from loss, Party D has the right to recover the relevant damages from Party A and Party B
and Party C.

 

    	2

    	 

    

 

Article
4 Liabilities for breach of agreement

 

1.          When
the agreement comes into effect, the four parties shall fully perform their duties. Any party who fails to fully perform his duty
according to the agreement shall be liable in accordance with law and the provisions of the agreement.

 

2.          If
due to Party A and Party B and Party C, Party D is not able to conduct transfer procedures on schedule, or the purpose of the agreement
is compromised, Party A and Party B and Party C shall pay Party D 0.01% of the equity transfer payment that Party D has made as
liquidated damages. If the liquidated damages paid by Party A and Party B cannot cover the losses of Party D arising from Party
A and Party B and Party C's breach of agreement, Party A and Party B and Party C shall make compensation in accordance with the
proportion of their transferred equity.

 

Article
5 Modification and termination of the agreement

 

The parties
may modify or terminate the agreement if they have so agreed and they shall sign other agreements to indicate the modification
or termination of this agreement

 

Article
6 The burden of cost and tax

 

All cost
involved in equity transfer (including but not limited to notary fee, assessment fee, fees for change of registration in industrial
and commercial administration) shall be borne by negotiation of the four parties.

 

Article
7 Settlement of disputes

 

Any disputes
arising from or concerning this agreement could be settled through negotiations. If no settlements are reached through negotiation,
the parties can bring the case to Shenzhen Arbitration Commission.

 

Article
8 Effectiveness

 

This agreement
shall be effective upon the signing of the four parties and approval of related approving authority after the notary of Shenzhen
Notary Public Office.

 

Article
9 Supplementary provision

 

This agreement
is made in seven copies. Each party and Shenzhen Notary Public Office keeps one copy respectively, and the rest are submitted to
related administrations.

 

	 	Henian Wu
	 	Transferor (Party A): Henian Wu
	 	 
	 	Zongfu Wang
	 	Transferor (Party B): Zongfu Wang
	 	 
	 	Junbiao Huang
	 	Transferor (Party C):Junbiao Huang
	 	 
	 	Guifang Li
	 	Transferee (Party D): GOOD WEATH CAPITAL INVESTMENT LIMITED
	 	 
	On September 25, 2008	 
	In Shenzhen	 

 

    	3

    	 

    

 

The Supplementary
Agreement On Equity Transfer

 

The transferors:

Henian Wu (
“Party A” )

Domicile: No.
142, Friendship Street, Wenquan Town, Yingshan County, Hubei Province

ID No.: 422126196309072018

 

Zongfu Wang
( “Party B” )

Domicile: No.
141, Jinfu Pavilion, Jinyuan Building, No. 3008, South Bao'an Road, Luohu District, Shenzhen City,

Guangdong Province

ID No.: 440303196404243717

 

Junbiao Huang
( “Party C” )

Domicile: Qianshan
Neighborhood Committee, Xiangzhou District, Zhuhai city, Guangdong Province

 

The transferee:

Good Wealth
Capital Investment Limited ( “Party D” )

Registered
domicile: Workshop No. 10,6/F, Hewlett Centre, No. 52-54 Hoi Yuen Road, Kwun Tong, Kowloon.

 

Whereas:

 

Shengzhen
TMK Power Industries Ltd. (the “Company” ) was established by Party A and Party B and Party C in Shenzhen on September
3, 2001, with a registered capital of RMB 10,000,000 (ten million Yuan). Party A holds 58% and Party B holds 30% and Party C holds
12% of the Company's equity.

 

Party A
agrees to transfer 58% of the equity of Company to Party D and Party D agrees to purchase the said equity.

 

Party B
agrees to transfer 30% of the equity of Company to Party D and Party D agrees to purchase the said equity.

 

Party C
agrees to transfer 12% of the equity of Company to Party D and Party D agrees to purchase the said equity.

 

Party A,
Party B, Party C and Party D entered into an equity transfer agreement on September 25, 2008 (the “Original Agreement”
).

 

Party A,
Party B and Party C have agreed to restate and amend the Original Agreement in its entirety as set forth herein. Due to the financial
crisis, Party D cannot pay on time in accordance with the third
item of Article 1 of the original agreement. After negotiation and consultation, Party A, Party B and Party C abstain from looking
into the legal responsibility of Party D. Party D shall pay in accordance with the third item of Article 1 of the original agreement
to Party A, Party B and Party C within 60 days upon the effectiveness of the supplementary agreement.

 

    	4

    	 

    

 

This agreement
is made in seven copies. Each party keeps one copy respectively, and the rest are submitted to related administrations.

 

	 	Henian Wu
	 	Transferor (Party A): Henian Wu
	 	 
	 	Zongfu Wang
	 	Transferor (Party B): Zongfu Wang
	 	 
	 	Junbiao Huang
	 	Transferor (Party C): Junbiao Huang
	 	 
	 	Guifang Li
	 	Transferee (Party D): GOOD WEATH CAPITAL
	 	INVESTMENT LIMITED

 

On January
16, 2010

In Shenzhen

 

    	5

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