Document:

LOCK-UP
      AGREEMENT

     

    THIS
      AGREEMENT (this “Agreement”) is dated as of August 28, 2008 by and between
      Universal Travel Group, a Nevada corporation (the “Company”), and Jiangping
      Jiang (“Shareholder”).

     

    WHEREAS,
      the Company entered into a Securities Purchase Agreement with the investors
      listed in the Schedule of Buyers attached thereto (individually, a “Buyer”
and
      collectively, the “Buyers”)
      whereby the Company will sell to the Buyers an aggregate of 4,588,708 shares
      of
      the Company’s common stock, par value $0.001 per share (“Common
      Stock”),
      and
      warrants to acquire approximately 2,294,356 shares of Common Stock for a total
      aggregate purchase price of approximately $7,112,500 in a private placement
      financing transaction (the “Financing
      Transaction”).

     

    WHEREAS,
      Shareholder wishes to induce the Company and the Buyers to enter into the
      Financing Transaction.

     

    WHEREAS,
      in order to induce the Company and the Buyers to enter into the Financing
      Transaction pursuant to the Securities Purchase Agreement dated August 28,
      2008
      by and among the Company and the Buyers (the “Securities Purchase Agreement”),
      Shareholder has agreed not to sell any shares of the Company’s Common Stock that
      Shareholder presently owns or may acquire after the date hereof, except in
      accordance with the terms and conditions set forth herein (collectively, the
      “Lock-Up
      Shares”).
      Capitalized terms used herein without definition shall have the meanings
      assigned to such terms in the Securities Purchase Agreement.

     

    NOW,
      THEREFORE, in consideration of the covenants and conditions hereinafter
      contained, the parties hereto agree as follows:

     

    1. Restriction
      on Transfer; Term.
      The
      Shareholder hereby agrees with the Company that such Shareholder will not offer,
      sell, contract to sell, assign, transfer, hypothecate, pledge or grant a
      security interest in, or otherwise dispose of, or enter into any transaction
      which is designed to, or might reasonably be expected to, result in the
      disposition of (whether by actual disposition or effective economic disposition
      due to cash settlement or otherwise, directly or indirectly) (each, a
“transfer”), any of the Lock-Up Shares and shall not transfer such shares until
      a date that is twelve (12) months following the Closing Date under the
      Securities Purchase Agreement (the “Period”), unless (i) the Buyers, who are
      holders of at least 75% of the shares of Common Stock purchased under the
      Securities Purchase Agreement at the time of the purported transfer within
      the
      Period, consent to the same, such consent not to be unreasonably withheld,
      or
      (ii) all or any part of such Lock-Up Shares are transferred pursuant to that
      Make Good Securities Escrow Agreement of even date herewith entered into between
      the Company, the Shareholder and the Buyers. 

     

    2. Ownership.
      During
      the Period, Shareholder shall retain all rights of ownership in the Lock-Up
      Shares, including, without limitation, voting rights and the right to receive
      any dividends that may be declared in respect thereof, except regarding any
      Lock-Up Shares transferred pursuant to the Make Good Securities Escrow
      Agreement. 

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    3. Company
      and Transfer Agent.
      The
      Company is hereby authorized to disclose the existence of this Agreement to
      its
      transfer agent. The Company and its transfer agent are hereby authorized to
      decline to make any transfer of the Common Stock if such transfer would
      constitute a violation or breach of this Agreement and/or the Securities
      Purchase Agreement.

     

    4. Notices.
      All
      notices, demands, consents, requests, instructions and other communications
      to
      be given or delivered or permitted under or by reason of the provisions of
      this
      Agreement or in connection with the transactions contemplated hereby shall
      be in
      writing and shall be deemed to be delivered and received by the intended
      recipient as follows: (i) if personally delivered, on the business day of such
      delivery (as evidenced by the receipt of the personal delivery service), (ii)
      if
      mailed certified or registered mail return receipt requested, two (2) business
      days after being mailed, (iii) if delivered by overnight courier (with all
      charges having been prepaid), on the business day of such delivery (as evidenced
      by the receipt of the overnight courier service of recognized standing), or
      (iv)
      if delivered by facsimile transmission, on the business day of such delivery
      if
      sent by 6:00 p.m. in the time zone of the recipient, or if sent after that
      time,
      on the next succeeding business day (as evidenced by the printed confirmation
      of
      delivery generated by the sending party’s telecopier machine). If any notice,
      demand, consent, request, instruction or other communication cannot be delivered
      because of a changed address of which no notice was given (in accordance with
      this Section 4), or the refusal to accept same, the notice, demand, consent,
      request, instruction or other communication shall be deemed received on the
      second business day the notice is sent (as evidenced by a sworn affidavit of
      the
      sender). All such notices, demands, consents, requests, instructions and other
      communications will be sent to the following addresses or facsimile numbers
      as
      applicable.

     

    If
      to the
      Company: 

     

    
      
        	
                Universal
                  Travel Group

              
	
                Attention:
                  

              	
                Ms.
                  Jiangping Jiang

              
	
                Address:
                  

              	
                3/F
                  Hualian Building, No. 2008 Shennan Road,

              
	
                 

              	
                Central
                  Futian District, 

              
	
                City & State:
                  

              	
                Shenzhen,
                  The People’s Republic of China

              
	
                Telephone:
                  

              	
                86-755-83668559

              
	
                Fax:
                  

              	
                86-755-83668556

              
	
                Email:
                  

              	
                01@cnutg.cn

              

      

      

      
        	
                With
                  a copy (which will not constitute notice) to:

              
	 	 
	
                Sichenzia
                  Ross Friedman Ference LLP

              
	
                Attention:
                  

              	
                Benjamin
                  Tan, Esq.

              
	
                Telephone:
                  

              	
                (212)
                  930 9700

              
	
                Fax:
                  

              	
                (212)
                  930 9725

              
	
                Email:
                  

              	
                btan@srff.com

              

      

      
        
          
          

        

        
          2

          
            

          

        

        
          
          

        

      

       

      If
        to
        Shareholder, 

       

      
        	
                Jiangping
                  Jiang

              
	 
	
                c/o
                  Universal Travel Group

              
	
                Address:
                  

              	
                3/F
                  Hualian Building, No. 2008 Shennan Road,

              
	
                 

              	
                Central
                  Futian District, 

              
	
                City
                  & State: 

              	
                Shenzhen,
                  The People’s Republic of China

              
	
                Telephone:
                  

              	
                86-755-83668559

              
	
                Fax:
                  

              	
                86-755-83668556

              
	
                Email:
                  

              	
                01@cnutg.cn

              

      

    

     

    or
      to
      such other address as any party may specify by notice given to the other party
      in accordance with this Section 4.

     

    5. Amendment.
      This
      Agreement may not be modified, amended, altered or supplemented, except by
      a
      written agreement executed by each of the parties hereto.

     

    6. Entire
      Agreement.
      This
      Agreement contains the entire understanding and agreement of the parties
      relating to the subject matter hereof and supersedes all prior and/or
      contemporaneous understandings and agreements of any kind and nature (whether
      written or oral) among the parties with respect to such subject matter, all
      of
      which are merged herein.

     

    7. Governing
      Law.
      This
      Agreement shall be governed by and construed in accordance with the laws of
      the
      State of New York applicable to agreements made and to be performed in that
      state, without regard to any of its principles of conflicts of laws or other
      laws which would result in the application of the laws of another jurisdiction.
      This Agreement shall be construed and interpreted without regard to any
      presumption against the party causing this Agreement to be drafted.

     

    8. Waiver
      of Jury Trial.
      EACH OF
      THE PARTIES HEREBY UNCONDITIONALLY AND IRREVOCABLY WAIVES THE RIGHT TO A TRIAL
      BY JURY IN ANY ACTION, SUIT OR PROCEEDING ARISING OUT OF OR RELATING TO THIS
      AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY. EACH OF THE PARTIES
      UNCONDITIONALLY AND IRREVOCABLY CONSENTS TO THE EXCLUSIVE JURISDICTION OF THE
      COURTS OF THE STATE OF NEW YORK LOCATED IN NEW YORK COUNTY AND THE FEDERAL
      DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK WITH RESPECT TO ANY SUIT,
      ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE
      TRANSACTIONS CONTEMPLATED HEREBY, AND EACH OF THE PARTIES HEREBY UNCONDITIONALLY
      AND IRREVOCABLY WAIVES ANY OBJECTION TO VENUE IN NEW YORK COUNTY OR SUCH
      DISTRICT, AND AGREES THAT SERVICE OF ANY SUMMONS, COMPLAINT, NOTICE OR OTHER
      PROCESS RELATING TO SUCH SUIT, ACTION OR OTHER PROCEEDING MAY BE EFFECTED IN
      THE
      MANNER PROVIDED IN SECTION 4.

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    9. Severability.
      The
      parties agree that if any provision of this Agreement be held to be invalid,
      illegal or unenforceable in any jurisdiction, that holding shall be effective
      only to the extent of such invalidity, illegally or unenforceability without
      invalidating or rendering illegal or unenforceable the remaining provisions
      hereof, and any such invalidity, illegally or unenforceability in any
      jurisdiction shall not invalidate or render unenforceable such provision in
      any
      other jurisdiction. It is the intent of the parties that this Agreement be
      fully
      enforced to the fullest extent permitted by applicable law.

     

    10. Binding
      Effect; Assignment.
      This
      Agreement and the rights and obligations hereunder may not be assigned by any
      party hereto without the prior written consent of the other parties hereby.
      This
      Agreement shall be binding upon and shall inure to the benefit of the parties
      hereto and their respective successors and permitted assigns. Each Buyer is
      an
      intended third party beneficiary of this Agreement and shall be entitled to
      enforce this Agreement. 

     

    11. Headings.
      The
      section headings contained in this Agreement (including, without limitation,
      section headings and headings in the exhibits and schedules) are inserted for
      reference purposes only and shall not affect in any way the meaning,
      construction or interpretation of this Agreement. Any reference to the
      masculine, feminine, or neuter gender shall be a reference to such other gender
      as is appropriate. References to the singular shall include the plural and
      vice
      versa.

     

    12. Counterparts.
      This
      Agreement may be executed in two or more counterparts, and by the different
      parties hereto in separate counterparts, each of which when executed shall
      be
      deemed to be an original, and all of which, when taken together, shall
      constitute one and the same document. This Agreement shall become effective
      when
      one or more counterparts, taken together, shall have been executed and delivered
      by all of the parties.

     

    IN
      WITNESS WHEREOF, the parties have executed this Agreement as of the date first
      written above herein.

    

    
      	
              UNIVERSAL
                TRAVEL GROUP

            
	 	 
	
              By:
                

            	 

	 	
              Name:
                Jiangping Jiang

            
	 	
              Title:
                Chief Executive Officer

            
	 	 

	 	
              Name:
                Jiangping Jiang

            

    

    
      
        
        

      

      
        4THIS
        WARRANT AND THE COMMON SHARES ISSUABLE UPON EXERCISE OF THIS WARRANT HAVE
        NOT
        BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED,
        AND
        HAVE BEEN ACQUIRED FOR INVESTMENT AND NOT WITH A VIEW TO, OR IN CONNECTION
        WITH,
        THE SALE OR DISTRIBUTION THEREOF.
        THIS
        WARRANT AND THE COMMON SHARES ISSUABLE UPON EXERCISE OF THIS WARRANT MAY
        NOT BE
        SOLD, OFFERED FOR SALE, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE
        REGISTRATION STATEMENT UNDER SAID ACT OR AN OPINION OF COUNSEL REASONABLY
        SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED.

      

      VU1
        CORPORATION

      

      Common
        Stock Purchase Warrant

      (2008
        Private Placement)

       

      
        	
                Warrant
                  Number____________________________________________ W-2008A-____

                Issue
                  Date_________________________________________________ _______________,
                  2008

                Expiration
                  Date______________________________________________ _______________,
                  2010

                Name
                  of Warrant Holder_______________________________________ __________________________

                Number
                  of Shares of Common Stock______________________________

                (subject
                  to adjustment as provided herein)                    _____________
                  shares

                Exercise
                  Price per Share_______________________________________ $0.60

                

              

      

      
 

      Vu1
        Corporation, a California corporation (the “Company”), for value received,
        hereby certifies that the Warrant Holder identified above or its registered
        assigns (the “Holder”), is entitled, subject to the terms set forth below, to
        purchase from the Company up to the number of shares of Company common stock,
        no
        par value per share (the “Common Stock”), set forth above at the exercise price
        per share set forth above, on the terms and conditions set forth herein.
        The
        number of shares of Common Stock issuable upon exercise of this Warrant,
        and the
        exercise price per share, each as adjusted from time to time pursuant to
        the
        provisions of this Warrant, are hereinafter referred to as the “Warrant Stock”
and the “Exercise Price,” respectively. This Warrant is granted to Holder
        pursuant to the terms of that certain Subscription Agreement between the
        Company
        and Holder.

      

      1. Manner
        of Exercise.
        This
        Warrant may be exercised in whole or in part by delivering to the Company
        at its
        principal place of business (i) this Warrant, (ii) the form of
        Election to Purchase attached hereto as Exhibit
        A
        duly
        completed and executed by Holder, and (iii) cash, wire transfer, or bank
        check payable to the Company, in the amount of the Exercise Price multiplied
        by
        the number of shares for which this Warrant is being exercised (the “Purchase
        Price”). Each exercise of this Warrant shall be deemed to have been effected
        immediately prior to the close of business on the day on which this Warrant
        shall have been surrendered to the Company as provided herein or at such
        later
        date as may be specified in the executed form of Election to
        Purchase.

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      2. Delivery
        of Stock Certificate.
        As soon
        as practicable after the exercise of this Warrant, in full or in part, and
        in
        any event within 10 days thereafter, the Company at its expense will cause
        to be
        issued in the name of and deliver to the Holder (a) a certificate or
        certificates for the number of fully paid and nonassessable shares of Warrant
        Stock to which Holder shall be entitled upon such exercise and (b) if
        applicable, a new Warrant of like tenor to purchase up to that number of
        shares
        of Warrant Stock, if any, not previously exercised by Holder. Holder shall
        for
        all purposes be deemed to have become the holder of record of such shares
        of
        Warrant Stock on the date on which this Warrant was properly exercised in
        accordance with Section 1, irrespective of the date of delivery of the
        certificate or certificates representing the Warrant Stock; provided that,
        if
        the date of such exercise is a date when the stock transfer books of the
        Company
        are closed, such person shall be deemed to have become the holder of record
        of
        such shares of Warrant Stock at the close of business on the next succeeding
        date on which the stock transfer books are open.

      

      3. Reservation
        of Warrant Stock.
        The
        Company covenants and agrees that the Company will at all times have authorized
        and reserved a sufficient number of shares of Common Stock to provide for
        the
        exercise of the rights represented by this Warrant.

      

      4. Termination.
        To the
        extent not earlier exercised, the Warrant evidenced hereby shall be void
        and of
        no effect and all rights hereunder shall cease upon the earlier of
        (a) 5:00 p.m. Pacific Time on the Expiration Date set forth above, or
        (b) the closing of any merger, consolidation or other reorganization of the
        Company with or into any other corporation or other business entity, or the
        sale
        of all or substantially all of its assets, or the liquidation or dissolution
        of
        the Company (each, a “Transaction”). The Company shall provide Holder with
        written notice not less than 10 days prior to the closing of any proposed
        Transaction. All restrictions set forth herein on the shares of Warrant Stock
        issued upon exercise of any rights hereunder shall survive such exercise
        and
        expiration of the rights granted hereunder.

      

      5. Adjustments
        to Warrant.
        In case
        the Company shall issue any shares of Common Stock as a stock dividend or
        subdivide the number of outstanding shares of Common Stock into a greater
        number
        of shares, then, in either of such cases, the Exercise Price in effect at
        the
        time of such action shall be proportionately reduced and the number of shares
        of
        Warrant Stock at that time purchasable pursuant to this Warrant shall be
        proportionately increased; and, conversely, in the event the Company shall
        contract the number of outstanding shares of Common Stock by combining such
        shares into a smaller number of shares, then, in such case, the Exercise
        Price
        in effect at the time of such action shall be proportionately increased and
        the
        number of shares of Warrant Stock at that time purchasable pursuant to this
        Warrant shall be proportionately decreased. Any calculations of adjustments
        shall be made to the nearest cent or to the nearest one whole share, as the
        case
        may be.

      

      6. Restrictions
        on Transfer.
        Neither
        this Warrant nor the Warrant Stock have been registered under the Securities
        Act
        of 1933, as amended (the “Securities Act”), or any applicable state law, and no
        interest therein may be sold, distributed, assigned, offered, pledged or
        otherwise transferred unless (a) there is an effective registration
        statement under the Securities Act and applicable state securities laws covering
        any such transaction involving said securities, (b) the Company receives an
        opinion of legal counsel for Holder (concurred in by legal counsel for the
        Company) stating that such transaction is exempt from registration, or
        (c) the Company otherwise satisfies itself that such transaction is exempt
        from registration.

      

      7. Legend.
        A
        legend setting forth or referring to the restrictions stated in Section 6
        shall be placed on this Warrant, any replacement hereof and any certificates
        representing Warrant Stock, and a stop transfer restriction or order shall
        be
        placed on the books of the Company and with any transfer agents against this
        Warrant and shares of Warrant Stock until they may be legally sold or otherwise
        transferred.

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      8. Fractional
        Shares.
        No
        fractional shares shall be issued upon the exercise of the Warrant. In lieu
        of
        fractional shares, the Company shall round the number of shares to be issued
        upon exercise of this Warrant to the nearest whole share.

      

      9. Holder
        as Owner.
        Unless
        this Warrant is transferred or assigned, the Company may deem and treat the
        Holder at all times as the absolute owner of the Warrant evidenced hereby
        for
        all purposes regardless of any notice to the contrary.

      

      10. No
        Rights as Shareholder.
        This
        Warrant shall not entitle Holder to any voting rights or any other rights
        as a
        shareholder of the Company, or to any other rights whatsoever except the
        rights
        stated herein; and no dividend or interest shall be payable or shall accrue
        in
        respect of this Warrant or the shares purchasable hereunder unless, and until,
        and except to the extent that, this Warrant shall be exercised.

      

      11. Exchange
        or Destruction of Warrant.
        This
        Warrant is exchangeable, without expense to Holder and upon delivery hereof
        to
        the Company, for Warrants of different denominations entitling Holder to
        purchase shares of Warrant Stock equal in total number and identical in type
        to
        the shares of Warrant Stock covered by this Warrant. In addition, upon receipt
        by the Company of evidence reasonably satisfactory to the Company of the
        loss,
        theft, destruction, or mutilation of this Warrant and, in the case of any
        such
        loss, theft or destruction, upon receipt of an affidavit and indemnity
        reasonably satisfactory to the Company, or in the case of any such mutilation
        upon surrender and cancellation of such Warrant, the Company at its expense
        will
        make and deliver a new Warrant, of like tenor, in lieu of the lost, stolen,
        destroyed or mutilated Warrant.

      

      12. Notices.
        Unless
        otherwise provided, any notice, request or other document required or permitted
        to be given or delivered to Holder hereof or the Company shall be given in
        writing and shall be deemed effectively given (a) upon personal delivery to
        the party to be notified, (b) upon confirmation of receipt by fax by the
        party to be notified, or (c) upon receipt if delivered by prepaid overnight
        delivery, courier service or registered or certified mail addressed, (i) if
        to Holder, to the address of Holder most recently furnished in writing to
        the
        Company and (ii) if to the Company, to the address set forth below, or in
        either case at such other address as such party may designate by five days’
advance written notice to the other party given in the foregoing
        manner.

      

      13. Successors
        and Assigns.
        The
        terms and provisions of this Warrant shall be binding upon the Company and
        Holder and their respective successors and assigns, subject at all times
        to the
        restrictions set forth herein.

      

      14. Applicable
        Law.
        The
        validity, interpretation and performance of this Warrant shall be governed
        by
        the laws of the State of Washington.

      

      EXECUTED
        as of the day and year first above written.

      

      
        	 	
                VU1
                  CORPORATION

              
	 	 	     
	 	 	     
	 	
                By:

              	
                    
                  

              
	 	 	
                Matthew
                  DeVries Chief Financial Officer

              
	 	 	     
	 	
                Address:

              	
                557
                  Roy Street, Suite 125

              
	 	 	
                Seattle,
                  Washington, 98109

              

      

       

      
 

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      Exhibit
        A to Common Stock Purchase Warrant

      

      

      ELECTION
        TO PURCHASE

      

      Vu1
        Corporation

      557
        Roy
        Street Suite 125

      Seattle,
        Washington, 98109

      Attention:
        Corporate Secretary

      

      

      The
        undersigned hereby irrevocably elects to purchase __________ shares of Common
        Stock of Vu1 Corporation, a California corporation (the “Company”), issuable
        upon the exercise of the attached Warrant, and requests that certificates
        for
        such shares be issued in the name of and delivered to the undersigned at
        the
        address stated below. If said number of shares shall not be all the shares
        which
        may be purchased pursuant to the attached Warrant, the Company shall issue
        a new
        Warrant to the Holder evidencing the right of the Holder to purchase the
        balance
        of such shares under terms identical to the attached Warrant. 

      

      The
        undersigned hereby agrees with and represents to the Company that such shares
        of
        Common Stock are acquired for investment and not with a view to, or for sale
        in
        connection with, any distribution or public offering thereof within the meaning
        of the Securities Act of 1933, as amended, and that the undersigned has no
        present intention of distributing or reselling such shares. The undersigned
        acknowledges and agrees that the exercise of the attached Warrant and the
        issuance and transfer of the Common Stock to be purchased are subject to
        Sections 6 and 7 of the attached Warrant.

      

      
        	
                Payment
                  enclosed in the amount of:

              	
                $_________________

              
	 	 
	
                Dated:
                  ______________,
                  20__

              	 
	 	 
	
                Name
                  of Holder of Warrant (please
                  print):

              	
                ________________________________

              
	 	 
	
                Address:

              	
                ________________________________

                ________________________________

                ________________________________

              
	 	 
	
                Signature:

              	
                ________________________________

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