Document:

Termination
      Agreement

    

    This
      termination agreement is signed by the following four Parties on July 25, 2008,
      in Xi’an, Shaanxi Province.

    

    Party
      A:
      Xi’an Amorphous Alloy Zhongxi Transformer Co., Ltd.

    Location:
      Xinke Building, No.1 Xinke Road, Xi’an

    Legal
      Representative: Song Yongxing

    Registered
      No.:6101012110931

     

    Party
      B:
      Xi’an Yongchun Science & Technology Co., Ltd.

    Location:
      Yongchun Keji Industry Centre, No.3 Keji Road, Hi-tech Industries
      Development Zone, Xi’an

    Legal
      Representative: Wang Yunfei

    Registered
      No.:6101012112339

    

    Party
      C:
      Zhejiang Lvneng Electric Co., Ltd.

    Location:
      1/F, No.3 Building, No.75 Wenyi West Road, Hangzhou, Zhejiang
      province

    Legal
      Representative: Hu Jinqian

    Registered
      No.:3300002000181

    

    Party
      D:
      Chai Xinzhi 

    Location:
      Provincial Water & Power Project Bureau, Jiancai Road, Weicheng District,
      Xianyang, Shaanxi Province

    ID
      Card:
      610404600617203

    

    Each
      Party of this termination agreement entered into “AGREEMENT”(hereafter referred
      to as “original agreement”) on Nov.11, 2007 in Xi’an, Shaanxi province, each
      Party of this agreement agreed that they would offer the paid-in capital for
      RMB30,000,000 together to establish Shaanxi Amorphous Alloy Power Co., Ltd.(
      temporary name, hereafter referred to “intent established company”) in Jingyang
      county, Shaanxi province .Due to Party B, Party C and Party D failed to offer
      the paid-in capital in a timely manner based on original agreement, so, the
      intent established company failed to be founded, after through equal
      negotiation, all Parties agreed to terminate the original agreement, and made
      the following terms to execute.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    1.
      Each
      Party agreed to terminate the original agreement which was signed on Nov. 11,
      2007.

    

    2.
      After
      termination the original agreement, all the right and responsibility which
      each
      Party shall be liable based on the original agreement shall be
      terminated.

    

    3.
      The
      original agreement was terminated by each Party after equal negotiation and
      made
      a consensus, each Party shall not be liable for the breaching duty, any Party
      has not entitled to require another Party or the other Parties to shoulder
      the
      breaching responsibilities and damages based on the article 12 of the original
      agreement. 

    

    4.During
      the period from signing of the original agreement to the effectiveness of this
      termination agreement, if any Party paid the cost and expenditure so as to
      found
      the intent established company, this Party shall bear the expenditures and
      abandon the right which require the other Parties to compensate the
      expenditures. 

    

    5.
      This
      termination agreement will be effective after signed and sealed by the
      authorized representative of each Party. 

    

    6.
      The
      conclusion, effectiveness, interpretation and execution of this termination
      agreement are applied to the law and regulation of PRC.

    

    7.
      Any
      disputes, controversies or differences which may arise under any term of this
      termination agreement, it shall be settled through friendly negotiation. If
      failed to make a consent, any Party is entitled to sue at the people’s court
      where Party A located. 

    

    8.
      This
      termination agreement is written in English and Chinese, legal expression
      subject to Chinese version. The original of this termination agreement has
      four
      copies, each Party holds each one original with the same legal
      effect.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    9.
      Hereby
      we certificate the date which each Party signed the termination agreement as
      demonstrated at the first page.

    (No
      any
      text following)

     

    
      
        	
                Party
                  A: Xi’an
                  Amorphous Alloy Zhongxi

              	
                Party
                  B: Xi’an Yongchun Science & 

              
	
                Transformer
                  Co., Ltd.

              	
                Technology
                  Co., Ltd

              
	 	 
	
                Legal
                  representative:

              	
                Legal
                  representative:

              
	
                (or
                  authorized
                  representative):

              	
                (or
                  authorized representative):

              
	 	 
	
                Party
                  C: Zhejiang Lvneng Electric Co., Ltd.

              	
                Party
                  D:

              
	
                Legal
                  representative:

              	
                (
                  Chai Xinzhi )

              
	
                (or
                  authorized
                  representative)Unassociated Document

    AMENDED
      PRELIMINARY FINANCIAL SERVICE AGREEMENT

    

    The
      Preliminary Financial Service Agreement is entered into as of May 14, 2008
      between ELZ
      Accountancy Corp., its designated employee Elaine Zhao
      (collectively “Zhao”), and China
      Power Equipment, Inc.
      (the
‘Company”). ELZ Accountancy Corp. hereby agrees to designate its employee Elaine
      Zhao to serve as Chief Financial Officer of China Power Equipment, Inc., for
      an
      initial period of two years. The annual compensation, paid quarterly to ELZ
      Accountancy Corp. or Elaine Zhao at the beginning of each quarter, shall be
      US
      $45,000.

    

    Specific
      responsibilities shall include:

    

    
      	
            	1.	
              Review
                of the historical accounting
                records

            

    

    
      	
            	2.	
              Implementation
                of appropriate internal financial
                controls.

            

    

    
      	
            	3.	
              Interacting
                with the Company’s internal accounting
                staff

            

    

    
      	
            	4.	
              Liaison
                with the Company’s auditors and securities attorney regarding filing and
                reporting requirements

            

    

    
      	
            	5.	
              Preparation
                of consolidated financial statements including
                footnotes

            

    

    
      	
            	6.	
              Preparation
                of MD&A for inclusion in SEC
                filings

            

    

    
      	
            	7.	
              Preparation
                as may be required of forecasts and
                budgets.

            

    

    
      	
            	8.	
              Signing
                off on financial statements and regulatory
                filings

            

    

    
      	
            	9.	
              Maintaining
                the books and records and the US bank account(s) for the parent
                company

            

    

    
      	
            	10.	
              Meeting
                with company management and visits to the Company’s facilities as may be
                required

            

    

    
      	
            	11.	
              Participation
                at investor meetings and conferences as may be
                required

            

    

    
      	
            	12.	
              Taking
                phone calls from the financial community and
                investors

            

    

    
      	
            	13.	
              Other
                activities appropriate to the responsibilities of being the chief
                financial officer

            

    

    
      	
            	14.	
              The
                preparation and filing of any appropriate state and Federal withholding
                and tax filings.

            

    

    

    Zhao
      and
      the Company agree that the performance, compensation and time commitment by
      Zhao
      shall be reviewed quarterly, and appropriate adjustments shall be made thereof,
      subject to parties written agreement.

    

    Zhao
      shall be entitled to reimbursement for appropriate business expenses, as well
      as
      travel and related expenses.

    

    The
      Company agrees to issue to Zhao 50,000 shares of stock option upon the effective
      of the registration statement and 25,000 shares every six months subsequently
      to
      purchase the Company’s common shares. The exercise price for the Options granted
      upon the effective of registration statement shall be equal to $0.23. The
      exercise price for the subsequent Options shall be equal to the lower of the
      30
      day average stock price or the 180 day average stock price prior to the issue
      date. The Options shall
      become exercisable upon issuance and shall have a term of five (5) years.
All
      Options granted to Zhao shall be subject
      to regulatory requirements. 

    

    This
      Preliminary Financial Service Agreement shall be in force until such time as
      a
      formal Employment Agreement is entered into by Elaine Zhao and the Company,
      and
      will be subject by termination by either party providing the other party four
      weeks written notice.

    

    Agreed
      to:

    Elaine
      Zhao/ELZ Accountancy Corp.

    

      
        	
                /s/
                  Elaine Zhao

              	
                Date
                  May 14, 2008

              
	
                China
                  Power Equipment, Inc.

              	 
	 	 
	
                /s/
                  Mr. Yarong Feng Title:
                  Director

              	
                Date
                  May 14, 2008

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