Document:

Maximum Amount Comprehensive Credit Line
Contract

NO. SX161213000377

Fiduciary: Springpower Technology (Shenzhen)
Co., Ltd

Address: Building A, Chaoshun Industrial Zone,
Renmin Street, Danhu, Guanlan Road, Baoan, Shenzhen

 

Creditor: Bank of Jiangsu, Shenzhen
Sub-branch.

Address: 4011, Shennan Road, Futian District,
Shenzhen.

 

According to relevant laws
and regulations of China, this contract was agreed by two parties, and both parties agree to comply with all terms of the contract.

 

Clause 1 The maximum
comprehensive credit limits (hereinafter referred to as “fiduciary”) means the credit line that creditor provide to
fiduciary who can use the credit line in the business lines agreed by the contract.

 

Clause 2 Content of
the credit

 

1. The maximum amount of
comprehensive credit limits that creditor provide to fiduciary is RMB 10,000,000.

 

2. The period of the credit:
From June 21th, 2013 to June 20th, 2014. This period only limits the start date of the credit businesses
but the expiration date.

 

3. The allotted time, amount,
interest rate and rate of single specific business under this credit contract should be agreed by accordingly specific business
contract and voucher.

 

4. Aforesaid “The
maximum comprehensive credit limits” only includes the balance of credit principal which is the actual used credit line (deducts
guaranty bund) deducts the part which has been repaid under this contract during the contract period, but the interest, punitive
interest compound interest and other payables which should be afforded by fiduciary.

 

Clause 3 The usage of
credit line

 

1. When fiduciary need
to use the credit line under this contract, should apply to creditor one by one, creditor has the right to audit in accordance
with fund condition of itself, operation situation of fiduciary and the purpose of credit etc. If the applications are approved,
both parties should sign the specific credit business contract separately. Every single credit business contract under this contract
and relevant voucher constitute the effective attachment of this contract.

 

2. Within the period agreed
in this contract, fiduciary can use the credit line according to the limit of every single credit business agreed by this contract
repeatedly, if fiduciary need to adjust the usage of credit line, application should be provided to creditor in writing, and creditor
decides whether the application can be approve and the method of adjustment.

 

4. When the credit become
expiring, the credit line which is not used will automatically be cancelled.

 

Clause 4 Adjustment
of credit line

 

In the process
of performing this contract, if following situations, which may affect the right of creditor, occur, creditor has the right to
make relevant adjustment and/or stop fiduciary using credit line, and cancel unused credit line of fiduciary.

 

1. The market, which is
related to fiduciary’s operation, has significant adverse changes, or Country’s monetary policy has significant adjustment.

 

    	1

    	 

    

 

 

  

2. There are significant
difficulties on operation situation or important adverse changes on financial conditions to fiduciary.

 

3. Termination of business,
liquidation, restructuring, dissolution and bankruptcy of fiduciary by an active or passive means.

 

4. Fiduciary is involved
in significant litigation, arbitration or administrative punishment, or has significant default with other creditors.

 

5. Fiduciary indicates
or expresses by its actions that it does not perform its obligations under this contract or other contract signed by creditor and
fiduciary.

 

6. Fiduciary provides false
materials or conceals any important fact of finance and operation.

 

7. Fiduciary does not
perform the obligations agreed in this contract or specific credit business contract.

 

8. Fiduciary violates
other contracts signed by creditor and fiduciary.

 

9. Fiduciary transfers
its assets, pumps money, evades debts and has other behaviors which damage or might damage the rights of creditor.

 

10. Fiduciary is involved
in illegal operations.

 

11. Division, merger,
important takeover, consolidation and reorganization of fiduciary.

 

12. Fiduciary loses
commercial integrity.

 

13. Controlling shareholder
of fiduciary transfer is changed, or significant items happen to controlling share holder, actual controller, legal representative,
senior executives of fiduciary, including but not limited to be involved in illegal actions, litigation, arbitration, deterioration
of financial condition, bankruptcy, dissolution etc.

 

14. Guarantor of the
credit business under this contract default, such as providing false information, violating other contracts signed by creditor
or other third parties, involved in litigation, arbitration, stopping doing business, business failures, illegal actions, evading
bank credit’s right, merging, consolidation, reorganization, and other situation which may affect guaranty ability of Guarantor.

 

15. Other situations
damage rights and interests of creditor.

 

Clause 5 Rights and
obligations of fiduciary

 

1. Having the right
to apply for using the credit line.

 

2. Opening settlement
account in Bank of Jiangsu, Shenzhen Sub-branch, and arrange settlement of both domestic and overseas accounts, foreign exchange
settlement and sale and other intermediate business in Bank of Jiangsu or its sub-branch more than the proportion of the credit
line which gets from creditor and all credit line of fiduciary.

 

3. Fiduciary should
provide true documents and information to creditor (including but not limited all bank accounts, balance of deposit and loans,
situations of using loans, condition of assets, operation, and inner management etc.

 

4. Providing last month’s
financial statement before the 20th of each month, and providing audited financial statement to creditor in120 days after fiscal
year, and providing changes and modifications of itself to creditor.

 

5. Accepting and cooperating
with creditor in surveying, supervising and examining on the situation of using credit, related production, management, financial
operation.

 

    	2

    	 

    

 

 

   

6. Complying with this
contract and every single business contract under this contract strictly.

 

7. When used credit exceed
the credit line agreed in this contract result from the change of exchange rate, fiduciary should repay the exceeding part or pay
homologous security deposit.

 

8. If following situation
occurs, fiduciary should notice in writing creditor in 5 days since related situation happens and implement security measure which
is accepted by creditor.

 

(1) Changes of membership
function, executives, articles of association and organization.

 

(2) Stopping producing,
going out of business, cancelling registration, being cancelled business license or being applied for bankruptcy.

 

(3) Changes of name, domicile,
legal representative, contact manner and so on.

 

(4) Financial standing
depravation, significant difficulty on operation, significant litigation or arbitration.

 

(5) Other things have significant
affect on rights and interests of creditor.

 

9. Fiduciary should ask
creditor’s consent and implement security measure, which is accepted by creditor, before taking following actions.

 

(1) Contract management,
lease, stock system reform, joint operation, consolidation, merger, discrete, joint venture, asset transference, reducing registered
capital, applications of suspensions, dissolution, bankruptcy and other actions which can affect rights and interests of creditor.

 

(2) Providing guarantee
for other’s debts, or pledging or mortgaging major asset of itself to third party, leading to affect the repayment ability
under this contract.

 

10. When the guarantor,
which is under this contract or under single business contract of this contract, loses guarantee ability, or pledge, which is under
this contract or under single business contract of this contract, depreciates in value, fiduciary should take other guarantee measures,
which are accepted by creditor, in time.

 

11. Fiduciary is not allowed
to sign the contract, which can damage the rights and interests of creditor, with any other third party.

 

Clause 6 Rights and
obligations of creditor

 

1. Accepting and reviewing
fiduciary’s application of using the credit.

 

2. The financial conditions,
operation of fiduciary should be kept secret by Party B, except the laws, administrative laws and regulations, normative documents
requested.

 

3. Having the right to
ask fiduciary to provide related information of the credit, having the right to know the production, financial condition, operation,
and repayment plan of fiduciary, and having right to extract and copy from account books, operation record and related information.

 

4. Having the right to
supervise fiduciary uses the credit according to this contract and single credit business contract.

 

    	3

    	 

    

 

 

  

5. Having the right to
collect principal, interest, and other related expenses from Party A’s account on schedule or in advance.

 

6. If fiduciary fails to
act or violate the obligations under this contract and single credit business contract of this contract, creditor has the right
to adjust the maximum amount of comprehensive credit line, and stop using credit line, cancel unused credit line of fiduciary,
regain used credit in advance.

 

7. Having the right to
query the credit inquiry of fiduciary, the legal representative of fiduciary and executives of fiduciary, and has the right to
provide the information of fiduciary to the people’s Bank of China etc.

 

8. If fiduciary fails to
act repayment obligations under this contract and single credit business contract of this contract, defaults of fiduciary can be
announced in public by creditor.

 

Clause 7 All debts
(including punitive interest and related expense) under the contract are guaranteed by Maximum Amount Guaranty Contract (NO.B2161213000045)
signed by ICON ENERGY SYSTEM COMPANY LIMITED and the creditor, and Maximum Amount Personal Joint Responsibility Guarantee (B2161213000046)
signed by DANGYU PAN and the creditor.

 

Clause 8 Expense

 

1. The expense of credit
information, notarization, testimony, register etc under the contract should be afforded by fiduciary.

 

2. The expense result from
fiduciary does not repay related debt, such as advertising fee, delivery fee, appraisal cost, counsel fee, legal fare, travel expense,
valuation fee, auction fee, property preservation fees, enforcement fee etc, should be afforded by fiduciary.

 

Clause 9 Modification,
dissolution and execution of civil right of the contract

 

1. Agreed by both parties,
this contract can be modified and dissolved in written.

 

2. Any tolerance, extension
or delay from creditor to fiduciary for exercising of rights under this contract does not affect the rights creditor enjoys according
to this contract and laws and regulations, and cannot be considered as approval to the default, and does not mean the abdication
of the right.

 

3. Any item of this contract
become invalid because of any reasons, fiduciary still should assume all responsibilities. If above situation happens, creditor
has the right to terminate this contract, and ask fiduciary to repay immediately.

 

4. If fiduciary violate
the obligation regulated in eighth item of clause 8 of this contract. It will be considered as the information has been delivered
that related notices and documents sent by creditor according to primary address result from fiduciary does not perform above obligations.

 

5. Any related notices
and documents should be sent in written by both parties.

 

Clause 10 Fiduciary
agrees that the credit’s rights under this contract can be enforced after notarization. When fiduciary does not carry out
obligations under the contract completely or partly, creditor can apply enforcement to competent court.

 

Clause 11 Applicable
Law and Resolution for dispute

 

The making, efficacy, explanation,
performance and resolution for dispute of the contract are applicable to the laws of People’s Republic of China. During the
performance of this contract or all disputes relating to this contract, the two parties settle through consultations. If negotiation
cannot reach agreement, both parties can apply to the local people’s court of creditor.

 

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Clause 12 Effective
and invalid of the contract

 

1. This contract enters
into force upon the date when it is signed or sealed and affixed with official seals by the legal representative or entrusted agents
of fiduciary and creditor.

 

2. This contract become
invalid after fiduciary accomplishes all repayment responsibility under this contract.

 

Clause 13 This contract
is signed in triplicate, creditor holds two copies, fiduciary holds one copy, three copies have the equal legal effect.

 

The things which are not
mentioned in this contract should be explained and settled according to relevant laws, administrative laws and regulations, normative
documents and single credit business contract, and the related regulations of Bank of Jiangsu.

  

Clause 15 Prompt

 

Fiduciary has known the
business scope and grant privilege of Party B. Fiduciary has read all terms of the contract. Creditor has explained homologous
terms requested by fiduciary. Fiduciary has known the meaning of all terms of the contract and homologous legal consequence. Signing
the contract is the true will of fiduciary.

 

/s/ [COMPANY SEAL]

Fiduciary (stamp)

Legal Representative or agent (signature):

June 28, 2013

 

/s/ [COMPANY SEAL]

Creditor (stamp)

Legal Representative or agent (signature):

June 28, 2013

 

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Supplementary Agreement of Maximum
Amount Comprehensive Credit Contract of Springpower Technology (Shenzhen) Co., Ltd

 

1. Credit line limits to
use for normal operation, such as purchase of raw materials etc. When single business transaction occurs, effective transaction
contract or order form should be provided with amount of no less than the transactional amount. When writing bank acceptance bill,
relevant value added tax invoice should be provided in time. Credit cannot be used for connected transaction which has no actual
business, and cannot be used for fixed assets, stock right, coupon investment and diverting.

 

2. Fiduciary has the obligation
to ensure it is appointed that fiduciary’s account opened in Bank of Jiangsu, Shenzhen Sub-branch is the only account of
sales outstanding of fiduciary in new sales contract and order form signed by Springpower Technology (Shenzhen) Co, Ltd and Meilv
Electronics Co., Ltd, by writing (or notary service mode). Account receivable should return to above account. Without creditor’s
consent, fiduciary cannot change the account of sales outstanding.

 

3. Fiduciary should complement
bank acceptance exposure in advance as single bank acceptance bill contract requested.

 

4. In the credit period, except existing financing banks, it should be approved by the Creditor that if the guarantees of new financing banks of the Fiduciary are superior to that of the Creditor.

 

5. If the Fiduciary defaults
the above clauses, 1% of exposure amount of credit line will be charged by the Creditor as penalty and the Creditor has the right
to claim the maturity of the credit.

 

6. Amount of settlement
should match to usage of credit; otherwise, creditor has the right to decide the usage of credit line and further operation after
expiration according to the settlement.

 

Fiduciary (stamp)

Legal Representative or agent (signature):
/s/ [COMPANY SEAL]

 

Creditor (stamp)

Legal Representative or agent (signature):
/s/ [COMPANY SEAL]

 

    	6

    	 

    

 

 

  

Maximum Amount Personal Joint Responsibility
Guarantee

NO. BZ161213000046

 

To: Bank of Jiangsu, Shenzhen Sub-branch

 

To ensure the performance
of your bank’s right, guarantor agrees to provide joint responsibility guarantee for the “Maximum Amount Comprehensive
Credit Line Contract” (herein after referred to as “master contract”) unconditionally and irrevocably, which
contract number is “BZ161213000377”, entered into by Springpower Technology (Shenzhen) Company Limited (herein after
referred to as “debtor”) and your bank. Guarantor promises as follows:

 

Article 1 The guaranteed
creditor’s right 

 

The secured creditor’s
right is all debt your bank lends to debtor according to master contract.

 

The master contract
of this guarantee consists of master contract and all attachments signed according to master contract (including but not limited
affiliated contract, applications, notice, various vouchers and other legal documents which form debtor-creditor relationship).

 

Article 2 Guarantee
Covers

 

The guarantee coverage:
the principals and interests (including punitive interest and compound interest) of all loans (credit) occurred between debtor
and your bank according to the master contract and its attachments from June 21of 2013 to June 20 of 2014, the penal sum that debtor
should pay to your bank; compensation and other expense your bank cost for realizing creditor’s right (including but not
limited legal fare, arbitration fees, property preservation fees, execution fees, valuation fee, auction fee, attorney fee, travelling
fee etc.).

 

Aforesaid period indicates
the date of occurrence, and does not limit the date of expiration.

 

Article 3 Guaranty
Method

 

Guarantor voluntarily
provide the joint liability guarantee, when debtor do not perform the debt according to master contract, no matter what other guarantee
your bank has for ensuring the creditor’s right under the master contract (including but not limited guarantee, mortgage,
pledge etc), your bank has the right to ask guarantor to take guarantee responsibilities within guarantee coverage.

 

Article 4 Maximum
amount of the guaranty

 

The maximum amount which
the guarantee assumed hereunder is at most no more than RMB 10 million only. The maximum amount of guaranty hereon is loan principal
balance by total amount (means line of credit deducting the part of cash deposit) of use of loans and facility actually under the
master contract signed between creditor and debtor and in the period as mentioned in the contract deducting the part of repayment,
excluding the proceeds of payable except the principals stipulated in article 3, such as interest expenses and penalties, etc.,
but the guarantee shall still assume the joint liquidated liability.

 

The guarantor agrees that
the debtor can recycle the loans under master contract, and agrees that the debtor can adjust the credit line of all kinds of loans
within the line of credit hereunder, and the guarantor shall assume the joint guarantee liability.

 

Article 5 Warranty Period

 

The warranty period of
this contract is from the effective date of this contract to 2 years after the maturity date of the debts (Including deferred loans)
under master contract.

 

    	1

    	 

    

 

 

  

Article 6 Changes
of Master contract

 

The warranty obligations
of this contract will not be affected by any changes (Including but not limited to modifying, supplying and deleting etc.) of master
contract agreed by creditor and debtor except the amount of the loan. If creditor and debtor agree with delaying to repay the debt,
this contract is still effective.

 

Creditor transfer its
credit’s right to the third party legally, guarantor assume the same warranty responsibilities as before.

 

Article 7 Independence
of this guarantee

 

This guarantee is independent
of master contract, it does not affect the efficacy of this guarantee that master contract is invalid completely or partly. If
master contract is considered as invalid, guarantor assume joint security responsibility to the debt result from debtor return
property or pay for the damage. Guarantor promise to supervise debtor use the loan (credit), and if debtor changes the purpose
of the loan (credit), guarantor still assume warranty responsibility.

 

Any tolerance, extension,
privilege or delay from creditor to guarantor for exercising of rights under this contract does not affect, injure and limit the
rights creditor enjoys according to this contract and laws and regulations, and cannot be considered as the abdication of the related
right according this contract, and will not affect the obligations of guarantor under this contract.

 

The efficacy of this
guarantee will not be affected by any contract, agreement, and guarantee, and tacit agreement, dispute.

 

Warranty obligations of
guarantor (including the inheritor, assignee and conservator of guarantor) are continuous, and have no affect on any change of
guarantor and debtor (Including but not limited in division, merger, reorganization, transactions of property right and operation
right). If debtor’s subject qualification cease to exist before debtor repay all debt to creditor, or creditor announce its
subject qualification cease to exist within 6 months since debtor repay all debt result in foregoing repayment become invalid,
the warranty obligations under this contract are still effective.

 

Article 8 Guaranty

 

Guarantor agrees to
assume warranty responsibility by all his property (including family possessions; since the date of signing this guarantee, guarantor
will not allowed to dispose above property without your bank’s consent, if your bank thinks it is necessary that above property
can be guaranteed, mortgaged or pledged, guarantor promise to assist to process above procedures.

 

During warranty period,
guarantor promises that he will not provide guarantee which is exceed his warranty ability to third party. If above property is
insufficient to afford the guarantee responsibility, guarantor promise to assume repayment responsibility for the insufficient
part.

 

If your bank feels necessary,
guarantor agrees to provide the list of all his assets, and evaluate the assets on the list, guarantor will afford valuation fee.
Guarantor promises that he enjoys ownership and the right of disposal of all assets on the list.

 

Article 9 Advanced
Guarantee Responsibilities 

 

During warranty period,
when any default under master contract or other situations which is considered as can affect the realization of creditor’s
right by your bank happen, your bank can announce the debt expire in advance, and has the right to ask the guarantor assumes security
responsibility on the date announced by your bank, guarantor agrees to assume the security responsibility as your bank requested.

 

    	2

    	 

    

 

 

  

Article 10 Receiving
Payables

 

Your bank has the right
to cut payment from guarantor’s account in bank of Jiangsu for all payables of guarantor in the range of warranty coverage.
If the payment is foreign currency, it will be calculated according to the rate your bank announced on the day.

 

Article 11 Other
Items

 

1. During warranty period,
your bank has the right to supervise the fund and financial condition of guarantor, and guarantor should provide true information.

 

2. Guarantor authorizes
your bank to claim for his expire creditor’s right, achieved money should be repaid your bank’s debt preferentially.

 

3. The loan, which is
under the master contract or specific credit business of the master contract, is not paid as agreed, or is changed the way of payment,
guarantor still assume security responsibility.

 

Article 12 Settlement
of Dispute

 

When there is any dispute
in performing the contract, both parties should settle the dispute through consultations at first, if negotiation cannot reach
agreement, both parties can apply to the local people’s court of your bank.

 

During litigation or
arbitration period, the items of this contract which are not involved in the dispute still should be performed.

 

Article 13 Becoming
Effective

 

This guarantee comes
into force since being signed by guarantor

 

Article 14 Statements

 

1. Guarantor knows the
business scope and limits of authority of your bank.

 

2 The guarantor has
read the contract comprehensively and carefully and fully understands the master contract entered into between creditor and debtor,
upon the request of guarantor, the creditor has made the terms interpretation accordingly as for the master contract and the contract
hereunder, and the guarantor are fully aware of and understands the whole terms content of master contract and the contract hereunder,
and signed this contract with true willing. The guarantor is fully aware of the legal consequence for the conclusion and performance
of the master contract and the contract hereunder may give rise to, and fully confirms the obligations related to this contract.

 

3. Guarantor has the
right to sign this guarantee.

 

5. It should be noticed
to your bank in writing that any changes of guarantor’s abode, postal address, contact number etc in 10 days after the changes
happen. It will be considered as the information has been delivered that your bank sends related notices and documents according
to primary address result from guarantor does not perform above obligations.

 

6. If notary organ grant
enforceable potency to this contract, guarantor agrees to be enforced and gives up the right of defense.

 

Guarantor (signature):  /s/ Dangyu
Pan

ID number:

6/28/2013

 

    	3

    	 

    

 

 

 

Maximum Amount Guaranty Contract

 

Contract
No.: B2161213000045

 

Guarantor: Icon Energy System Company Limited

Address: Block A, 4/F, Jinmeiwei Industrial
Park, Guanlan Hi-tech Industrial Park,

Shangkeng Community, Guanlan Town, Baoan
District, Shenzhen

 

Creditor: Bank of Jiangsu, Shenzhen Sub-branch.

Address:
4011, Shennan Road, Futian District, Shenzhen.

 

In order to warranty the performance of
debts under item one of this contract, the guarantor provides the warranty to the creditor voluntarily, and the two parties entered
into this contract after equal negotiation.

 

Article 1: Master contract

 

The master contract hereunder is    A     .

 

A. The creditor and the debtor Springpower
Technology (Shenzhen) Company Limited entered into this contract of maximum amount comprehensive credit line whose
number is SX SX 161213000377, and has or will enter into the separate facility business contract, as well as
amendments and supplements.

 

B. The creditor and the debtor                ,
from     year   month   day    to    year month   day
, entered into the contracts of loans, bank acceptance drafts, trade financing, letter of guarantee, funds business, and other
agreement, as well as amendments and supplements.

 

Article 2: Primary credit and period

 

Except the period determined or agreed
separately in accordance with the laws, the actual credit under the master contract consists of the primary credit of the contract
in the below period:      A     .

 

A. From the effective date of “maximum
amount comprehensive credit line contract” in article one to the expiration date of facility period stipulated in this contract
and amendments or supplements.

 

B. From ___ year __ month ___ day __ to
__ year __ month __ day under article one of this contract.

 

Article 3: Guarantee Coverage

 

The scope of guaranty of creditor hereunder
covers all debts occurred under this contract by the debtor, including but not limited to principals, interest expenses, compounded
interests, penalties, processing fees, default expenses, damage compensation, legal fees, escrow fees, taxation expenses, arbitration
fees, travel fees, assessment fees, auction fees, property preservation fees, compulsory execution fees and other expenses for
realization of the creditor’s right.

 

Article 4: Maximum amount of the guaranty

 

The maximum amount which the guarantee
assumed hereunder is at most no more than RMB 10 million only. The maximum amount of guaranty hereon is loan principal
balance by total amount (means line of credit deducting the part of cash deposit) of use of loans and facility actually under the
master contract signed between creditor and debtor and in the period as mentioned in the contract deducting the part of repayment,
excluding the proceeds of payable except the principals stipulated in article 3, such as interest expenses and penalties, etc.,
but the guarantee shall still assume the joint liquidated liability.

 

    	1

    	 

    

 

 

  

The guarantor agrees that the debtor can
recycle the loans under master contract, and agrees that the debtor can adjust the credit line of all kinds of loans within the
line of credit hereunder, and the guarantor shall assume the joint guarantee liability.

 

Article 5: The guarantor has read
the contract comprehensively and carefully and fully understands the master contract entered into between creditor and debtor,
upon the request of guarantor, the creditor has made the terms interpretation accordingly as for the master contract and the contract
hereunder, and the guarantor are fully aware of and understands the whole terms content of master contract and the contract hereunder,
and signed this contract with true willing. The guarantor is fully aware of the legal consequence for the conclusion and performance
of the master contract and the contract hereunder may give rise to, and fully confirms the obligations related to this contract.

 

Article 6: The guarantor shall assume
the responsibilities for all debts owed by the debtor to the creditor under the master contract, including the debts arising from
the prepayment requested by the creditor. After received the written notice sent by creditor, the guarantor shall perform the settlement
responsibilities according to the time, kinds of currency, amount, and method of settlement specified by the creditor, and commit
to the creditor that the creditor has the right to deduct all amount of guaranty from the guarantor’s account when the creditor
deems appropriate, if the deducted proceeds is foreign currency, the currency shall be calculated according to the bid price published
by the creditor at the deducted date.

 

Article 7:
The guarantee obligation of the guarantor (including the inheritor, assignee, and conservator of the guarantor) need continuity
under this contract, shall not affected by the change of the guarantor or the debtor (including but not limited to merger, split,
recombination, conduct title transaction or transactions
of managerial authority by way of lease, contract, and so on). If the debtor’s subject qualification ceases to exist before
clear off the loans hereunder, or the debtor declares that its subject qualification cease within six month from the date clear
off all of loans leading to its foregoing repayment activity invalid, the guarantor’s warranty obligations is still effective.

 

Article 8: The term of the guaranty
hereunder is from the date of effective to two years after expiration of the debts hereunder (including the maturity of extension
period).

 

Article 9: The guaranty obligations
under this contract shall not subject to be affected by any change for the terms and conditions of master contract agreed by both
creditor and debtor (including but not limited to amendments, supplements, and cancellations). If the creditor and debtor agree
to extension or delay the performance of the obligations hereunder, the contract hereunder shall continue to be valid.

In the event
of the creditor transfers its credit right to others in the period of guaranty according to the law, the guarantor continues to
assume the guaranty responsibility within the scope of the guaranty.

 

Article 10: The guarantor makes
the following commitment to the creditor unconditionally and irrevocably: if the debtor fails to or delays to fulfill the obligations
of master contract, or confirm the invalidity of the master contract in certain reason, or due to the guarantor fails to or delays
to perform any clause hereunder leading to a loss to the creditor, all of above shall be a debt payable for the guarantor to the
creditor.

 

Article 11: Whatever reasons leading
to the master contract invalid in law or part of terms invalid, the guarantor shall still assume the guaranty responsibility for
the debtor’s repayment liability in accordance with the terms listed hereunder. The guarantor pledge to monitor the debtor
to use the loans (facility), in the event of the debtor change the purpose of the loan, the guarantor shall still assume the guaranty
responsibilities.

 

Any tolerance, grace or postpone the exercise
of any right preferential by the creditor to the guarantor under this contract, shall not affect, damage, or restrict the creditor’s
all rights in accordance with the contract hereunder, laws and regulations, and normative documents, shall not deem as give up
the rights and benefit under this contract, and shall not affect any obligations assumed by the guarantor under this contract.

 

Article 12: If there is any collateral
security except this guarantee under this contract, the guarantor is willing to perform the joint guaranty responsibility prior
to collateral security on all guaranty debts.

 

    	2

    	 

    

 

 

  

Article 13: The guarantor is an
entity established in accordance with the laws, is qualified to identify the contract hereunder and perform joint guaranty responsibility.
In addition, signing this contract has obtained empowerment thereof, and the process of performing the contract has been completed.

 

Article 14: The guarantor to sign
and perform this contract is its real intension, is true and effective and legal, shall not affected by any relationship of any
party hereunder and others or other any events.

 

Article 15: The debts hereunder
has the equal position with guarantor’s other debts, shall be in the same compensation sequence.

 

Article 16: If the guarantor enters
into the counter guarantee contract with the debtor upon this contract, this counter guarantee contract shall not damage the creditor’s
any interests, and when the guarantor’s compensation arising from the counter guarantee contract and the creditor’s
claim are in the same sequence, the creditor shall be compensated prior to the guarantor.

The guarantor shall not request the debtor
to set up a counter guarantee by way of property pledge as to the obligations assumed by the debtor hereunder.

 

Article 17: The guarantor’s
responsibility shall decrease gradually with the decrease of the debts hereunder.

 

Article 18: The guarantor shall
provide the true, complete, valid financial statement and other relevant materials and information as required by the creditor.

 

Article 19: In the event of guarantor
change residence, mailing address, telephone number, the scope of business, and the legal representative, shall notice the creditor
in written within 10 days from the date of change events occurred.

 

Article 10: If notary organ grant
enforceable potency to this contract, guarantor agrees to be enforced and gives up the right of defense.

 

Article 21: The application of laws
and resolution of dispute

 

The signing, effectiveness, interpretation,
performance and settlement of disputes of this contract shall apply for the People's Republic of China's laws. If there are any
disputes based on this agreement, the contracting parties could attempt to resolve them through consultation. If negotiation fails,
shall resolve the disputes according to the following way of     A    :

 

A. Institute legal proceeding to the court
where the creditor located.

B.

 

Article 22: This contract and any
modifications and supplement of it enter into force upon the date when it is signed or sealed and affixed with official seals by
the legal representative or entrusted agents of both parties.

 

Article 23: Other items appointed by
both parties.

 

The things which are not mentioned in this
contract should be explained and settled according to relevant laws, administrative laws and regulations, normative documents and
the related regulations of Bank of Jiangsu.

 

Article 24: This agreement is in
triplicate, Party A has one copy, Party B has two copies, three copies have the same legal effect.

 

    	3

    	 

    

 

 

  

Guarantor (stamp): /s/ [COMPANY SEAL]

Legal representative or agent:

 

Creditor (stamp): /s/ [COMPANY SEAL]

Legal Representative or agent:

 

6/28/2013

 

    	4Working Capital Loan Contract 

 

REF: JK161213000016

 

Party A: Springpower Technology (Shenzhen)
Co., Ltd

Address: Building A, Chaoshun Industrial Zone,
Renmin Street, Danhu, Guanlan Road, Baoan, Shenzhen

 

Party B: Bank of Jiangsu, Shenzhen
Sub-branch.

Address: 4011, Shennan Road, Futian District,
Shenzhen.

 

According to relevant laws and regulations
of China, this contract was agreed by two parties, and both of them will be in accordance with the terms of the contract.

 

Clause 1 Content of the loan

 

1. Amount

Currency in: RMB

Amount: RMB TEN MILLLION ONLY

RMB 10,000,000.00

 

2. Period: From September 26th,
2013 to September 25th, 2014.

 

3. Lending rate and interest calculation

(1) Lending rate

 

Lending rate is fixed rate, Interest rate
is 7.2% per annum equal the one year benchmark lending rate promulgated by the People’s Bank of China, plus 20%.

 

(2) Interest calculation

 

Interest is calculated starting from the actual
withdrawal date on the actual amount of money withdrawn and the number of days outstanding.

 

Interest calculation formula: Interest = Principal
× actual number of days × daily rate.

Daily rate calculation is: daily rate = APR
/ 360.

 

4. Purpose of loan: Purchase of raw materials

 

5. Evidence of debt

 

Evidence of debt is part of this contract,
and has equal legal effect. In case of a conflict between the contract and evidence of debt the latter shall govern.

 

Clause 2 Interest settlement

 

1. Interest settlement takes place on the
20th of each month.

 

If the final loan principal payment date is
different from the interest payment date, the borrower should pay off all interest on the principal payment date.

 

2. Party A should pay interest on the 20th
of each month. Party B can charge interest from Party A’s account in bank of Jiangsu. If Party A do not pay on time, compound
interest will be charged interest.

 

    	 

    	 

    

 

Clause 3 Penalty interest and compound
interest

 

1. For the loan overdue or violated use the
loan purpose, the penalty interest rate of the overdue loan shall be the agreed interest rate plus 50%, and the penalty interest
rate of the misappropriated loan shall be the agreed interest rate plus 100%.

 

Overdue interest bears compound interest with
penalty interest rate.

 

Clause 4 Withdrawal conditions

 

1. Withdrawal must meet the following conditions
when the contract is effective, unless Party B exempts:

 

(1) Party A has opened the account in Bank
of Jiangsu or its sub-branch.

 

(2) Party A has provided Party B with legal
papers, which can prove Party A is of legality, to Party B, including but not limited latest business license, approval certificate,
joint or cooperate contract, article of association.

 

(3) Party A has provided Party B with withdrawal
application, entrusted payment.

 

(4) Guaranty contract related to this loan,
and/or mortgage contract, pledge contract have been effective.

 

(5) Requested by this contract and Party B
including but not limited to finish approve, register, filing, insurance, notarization, testimony.

 

(6) Party A has provided Party B with the
verification report which can prove its registered capital has been put in place.

 

(7) Party A has submitted resolution books
and power of attorney signed by the board or other authorities to Party B.

 

(8) Party A should submit written withdrawal
application, documentary proof for using of loans

 

(9) Party A has provided Party B with evidence
of debt which has seals.

 

(10) Party A has provided Party B with credit
cards of Party A and guarantee.

 

(11) Loan contract, guarantee contract, pledge
contract must apply for notarial legalization procedure, if necessary. All notarization fee should be paid by Party A.

 

(12) All expenses under this contract has
been paid by Party A and/or guarantee.

 

Clause 5 Withdrawal plan

 

1. If all withdrawal conditions have met,
Party A can withdraw RMB 10 milliion Yuan on September 26th 2013 in one lump sum.

 

2. Party B has right to refuse providing the
loans if Party A doesn’t withdraw on schedule.

 

Clause 6 The way of payment

 

1. Entrusted
payment.

 

Party B pay to transactional objects according
to withdrawal application and entrusted payment applied by Party A, under the condition of regulated use of purpose by this contract.

 

2. Party B has the right to consult with Party
A about withdrawal conditions, and stop the loan or request Party A to repay the loan in advance, if the following situations occurred:

 

    	 

    	 

    

 

(1) Party
A's credit status drop.

 

(2) Party A's main business profitability
is not good.

 

(3) Party A contravenes this section to use
the loan.

 

(4) Party A violates the contract to circumvent
entrusted payment of Party B by piecemeal way.

 

(5) Party A violates commitments issues.

(6) Party A violates the other situations
under this contract.

 

Clause 7 Repayment

 

1. Party
A’s repayment including but not limited from operating revenue.

 

2. Except agreed by Party A and Party B, Party
A must repay 10 million Yuan under this contract on September 25th 2014.

 

3. If the above repayment date is not banking
day, delay to the next banking day. If Party A cannot repay the loan on time, Party A should provide the written application for
delaying repayment one month before the loan expiration to Party B.

 

5. Party B has the right to collect expired
principal and interest from Party A’s account in Jiangsu Bank. If the collecting money is foreign currency, convert to RMB
according to the rate announced by Party B.

 

Clause 8 All debts under the contract
are guaranteed by /

 

Clause 9 Representations and warranties

 

1. Party A’s qualification meets the
requirements of related laws and regulations.

 

2. Party A has been granted all legal and
valid authorizations to sign this contract and other relevant documents, and is ability to perform its own responsibilities.

 

3. Party A will not violate any laws, normative
documents and this contract due to signing and performing the contract.

 

4. Party A does not have any pending litigations,
arbitrations or administrative penalties.

 

5. Party A cooperates with Party B in payment
management of the loan, management after the loan and related examination.

 

6. The financial statement provided by Party
A truly report Party A’s financial condition.

 

7. All information provided by Party A to
Party B is true, legal and effective, without material misstatement and misleading.

 

8. All information about Party A, guarantee,
mortgager, mortgagor, mortgage and project which exist in this contract and guarantee contract is true, complete, and accurate,
without leaving any important fact out.

 

9. Party A has known the business scope and
grant privilege of Party B. Party A has read all terms of the contract. Party B has explained homologous terms requested by Party
A. Party A has known the meaning of all terms of the contract and homologous legal consequence. Signing the contract is the true
will of Party A.

 

    	 

    	 

    

 

Clause 10 Rights and obligations of Party
A

 

1. The rights of Party A

 

(1) Party A has the right to draw and use
the loan according to this contract.

 

(2) Party A has the right to transfer the
liability under this contract to third party, if Party A got the written approval of Party B.

 

2. The obligations of Party A

 

(1) Party A should provide true documents
to Party B.

 

(2) Party A should provide last month’s
financial statement to Party B before the 20th of each month, and provide audited financial statement to Party B in120
days after fiscal year, and provide changes and modifications of itself to Party B.

 

(3) Party A should accept and cooperate with
Party B in surveying, supervising and examining on credit conditions, related production, management, financial operation.

 

(4) Party A should open settlement account
in Bank of Jiangsu, Shenzhen Sub-branch, and arrange settlement of both domestic and overseas accounts, foreign exchange settlement
and sale and other intermediate business in Bank of Jiangsu or its sub-branch more than the proportion of the loan under the contract
and all loans of Party A.

 

(5) Party A should use the loan according
to the contract.

 

(6) Party B should repay principal and interest
according to the contract.

 

(7) Party A should notice Party B in written
before investing abroad, the substantial increase of debt financing, merging, discretion, stock right transference, asset transference
and any other major events. Party A should put safeguards of repaying principal, interest and other fees under the contract in
place.

 

(8) If the significant adverse things which
can affect the solvency/guarantee ability of Party A or guarantee, Party B should be informed by Party A or guarantee.

 

(10) If Party A is a group, Party B should
be informed in written in 10 days when the turnover of connected transaction exceed 10% of Party A’s net asset. The content
of the report should include but not limited in the relationships between trading object and Party A, trading program and nature
of the transaction, transaction amount or the corresponding proportion, pricing basis(including the transactions which have no
amount or only token payment).

 

(11)Ensuring cover insurance for the asset
which is related to the loan to the insurance company as Party B requested, and designating Party B to be the beneficiary.

 

(12) If notary organ grant enforceable potency
to this contract, Party A agrees to be enforced and gives up the right of defense.

 

Clause 11 the rights and obligations of
Party B

 

1. The rights of Party B

 

(1) Having the right to ask Party A to provide
related information of the loan under the contract.

 

    	 

    	 

    

 

(2) Having the right to ask Party A to repay
principal and interest on schedule or in advance.

 

(3) Having the right to know the production,
financial condition, operation, and repayment plan. Having right to extract and copy from account books, operation record and related
information.

 

(4) Having the right to supervise Party A
uses the loan according to the contract.

 

(5) Having the right to collect principal,
interest, and other related expenses from Party A’s account on schedule or in advance.

 

(6) If Party A fails to act or violate the
obligations under the contract, Party B has the right to change the way of payment, and stop providing the loan or ask Party A
to repay the loan in advance, and announce the loan is of acceleration of maturity.

 

(7) Party B has the right to call the loan
advanced according to the situation of capital return of Party A.

 

(8) If Party A transfers the property right,
changes system, reduces registered capital, or transfers obligatory right and debt or something important, Party B has the right
to ask Party A to repay principal, interest and other related fees under the contract, or request Party A to transfer all loan
under the contract to the assignee agreed by Party B, or ask Party A to provide other guarantee measures agreed by Party B.

 

(9) Party B has the right to query the credit
inquiry of Party A, the legal representative of Party A and executives of Party A, and has the right to provide the information
of Party A to the people’s Bank of China etc.

 

2. The obligations of Party B

 

(1) Party B should provide the loan to Party
A according to the contract.

 

(2) The financial conditions, operation of
Party A should be kept secret by Party B, except the laws, administrative laws and regulations, normative documents requested.

 

Clause 12 Default

 

1. It is default that the following things
occurred during the contract period :

 

(1) Party A fails to act clause 9 and clause
10, including does not repay the principal, interest and other payables on schedule under the contract.

 

(2) Party A does not perform obligations under
the contract and other related documents. If above actions can be corrected, Party A should correct above actions to make Party
B satisfied in 20 days since Party B send written notice.

 

(3) Termination of business, liquidation,
restructuring, dissolution and bankruptcy of Party A by an active or passive means.

 

(4) Party A provides false materials or conceals
any important fact of finance and operation.

 

(5) Party A breaks the financial target agreed
in Clause 18 in the contract;

 

(6) Party A has financial losses or deterioration
of financial conditions which might affect the capacity for fulfilling the contract of Party A or Guarantor. Or Party A evades
the bank debts on purpose.

 

(7) The project loan of Party A is canceled
or impossible to implement.

 

    	 

    	 

    

 

(8) Party A uses false contract with related
parties to achieve capital or line of credit from Party B or other banks.

 

(9)Party A is involved in illegal operation.

 

(10) Division, merger, important takeover,
consolidation and reorganization of Party A.

(11) Party A violates other contracts signed
with Party B or other third party, or involved in litigation or arbitration because of those contracts.

 

(12) Controlling shareholder of Party A transfer
its share, or significant items happen to controlling share holder, actual controller, legal representative, senior executives
of Party A, including but not limited to be involved in illegal actions, litigation, arbitration, administrative penalty, deterioration
of financial condition, bankruptcy, dissolution etc.

 

(13) Guarantor violate the contract, such
as providing false information, violating other contracts signed by Party B or other third parties, involved in litigation, arbitration,
stopping doing business, business failures, illegal actions, evading bank credit’s right, merging, consolidation, reorganization,
and other situation which may affect guaranty ability of Guarantor.

 

(14) Defaults occurred under other loan contracts
or guaranty contracts signed between Party A and Party B.

 

(15) Other situations are or might be injured
the safety of the loan.

 

2. When default happens, Party B will take
one or a few following measures according to the nature and extent of the default:

 

(1) Asking Party A to correct the default
and take remedial measures within a definite time.

 

(2) Changing the way of payment under the
contract.

 

(3) Stopping providing remaining loan, cancelling
remaining loan commitment, announcing the immediate expiration on the principal and interest under the contract, and calling the
loan back immediately.

 

(4)All principal and interest under other
contracts signed between Party A and Party B are considered as acceleration of maturity, and are took back immediately.

 

(5) Freezing part or all deposit of Party
A. Having the right to deduct the fund from Party A’s deposit accounts to pay off the principal, interest and other related
expense under the contract. Foreign exchange purchasing is granted to Party B by Party A for repaying the principal and interest
of foreign exchange loans.

 

(6) Asking liability of guaranty from guarantor
or handling the guarantee.

 

(7) Filing a lawsuit to the court, claiming
indemnity for the principal, interest, expenses and other losses from Party A and guarantor by taking legal action.

 

(8) If the notary organ considers the contract
as enforceable, enforcement can be applied to the court.

 

Clause 13 Expense

 

1. The expense of credit information, notarization,
testimony, register etc under the contract should be afforded by Party A.

 

2. The expense result from Party A does not
repay the principal and interest on schedule should be paid by Party A, such as advertising fee, delivery fee, appraisal cost,
counsel fee, legal fare, travel expense, valuation fee, auction fee, property preservation fee, enforcement fee etc.

 

    	 

    	 

    

 

Clause 14 Transferring of obligation

 

1. Without the written approval from Party
B, Party A cannot transfer any rights and obligations under the contract to third party.

 

2. If Party A transfer the rights and obligations
under the contract to third party with the written approval of Party B, the third party should comply with all terms of the contract
unconditionally.

 

Clause 15 Modification, dissolution and
execution of civil right of the contract

 

1. Agreed by both parties, this contract can
be modified and dissolved by written.

 

2. Any tolerance, extension or delay from
Party B to Party A for exercising of rights under this contract does not affect the rights Party B enjoys according to this contract
and laws and regulations, and cannot be considered as approval to the default, and does not mean the abdication of the right.

 

3. Any terms of the loan become invalid because
of any reasons, Party A still should perform the obligation of repayment. If above situation happens, Party B has the right to
terminate this contract, and ask Party A to repay the principal, interest and other fund under this contract immediately.

 

4.It should be noticed to Party B by written
that any changes of Party A’s abode, postal address, contact number, business scope, legal representative etc, in 10 days
after the changes happen. It will be considered as the information has been delivered that Party B sends related notices and documents
according to primary address result from Party A does not perform above obligations.

 

5. Any related notices and documents should
be sent in written by both parties.

 

Clause 16 Party A agrees that the credit’s
rights under this contract can be enforced after notarization. When Party A does not carry out obligations under the contract completely
or partly, Party B can apply enforcement to competent court.

 

Clause 17 Applicable Law and Resolution
for dispute

 

The signing, effectiveness, interpretation,
performance and settlement of disputes of this contract shall apply for the People's Republic of China's laws. If there are any
disputes based on this contract, the contracting parties could attempt to resolve them through consultation. If negotiation fails,
shall resolve the disputes according to the following way of     A    :

A. Institute legal proceeding to the court
where the Party B located.

B.

 

Clause 18 Other terms and conditions

 

1. This contract is the specific business
of Maximum Amount Comprehensive Credit Line Contract (NO: SX161213000377).

 

2. The things which are not mentioned in this
contract should be explained and settled according to relevant laws, administrative laws and regulations, normative documents and
the related regulations of Bank of Jiangsu.

 

Clause 19 Effective and invalid of the
contract

 

1. This contract enters into force upon the
date when it is signed or sealed and affixed with official seals by the legal representative or entrusted agents of Party A and
Party B.

 

    	 

    	 

    

 

2. This contract become invalid after Party
A repaid all principal and interest of the loan and other expense.

 

This contract is signed in triplicate; each
party (Party A, Party B and Guarantor) holds one copy, which has the equal legal effect.

 

/s/ [COMPANY SEAL]

Party A (Stamp): Springpower Technology (Shenzhen)
Co., Ltd

Signature of legal representative or deputy:

/s/ Dangyu Pan

 

/s/ [COMPANY SEAL]

Party B (Stamp): Bank of Jiangsu, Shenzhen
Sub-branch.

Signature of legal representative or deputy:

/s/ Cheng Chen

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00223-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00223-of-00352.parquet"}]]