Document:

__________

    

     

    
      	 
	
              SHARE
                PURCHASE AGREEMENT

            
	 

    

     

    

    Among:

     

    CDOOR
      CORP.

     

    And:

     

    WANXIN
      BIO-TECHNOLOGY LIMITED

    

    And:

    
 

    THE
      SHAREHOLDERS OF

    WANXIN
      BIO-TECHNOLOGY LIMITED

    
 

    Notice
      to the Shareholders of Wanxin Bio-Technology Limited:The
      Shareholders of Wanxin Bio-Technology Limited are hereby advised by each of
      Devlin Jensen, counsel for CDoor Corp., and CDoor Corp. to obtain independent
      legal advice with respect to their review and execution of this Share Purchase
      Agreement.

    

    __________

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        2

      

    

    

    

    SHARE
      PURCHASE AGREEMENT

    

    

    THIS
      SHARE PURCHASE AGREEMENT
      is dated
      and made for reference effective as fully executed on this 21st
      day of
      December, 2006.

    

    

    BETWEEN:

    

    

    CDOOR
      CORP.,
      a
      corporation organized under the laws of the State of Delaware and having an
      address for notice and delivery located at Room 3304, Bldg #6, Lane 218, Wu-Zhou
      Road, Zhang-Huan Plaza, Shanghai, China, 200080

    

    (the
      “Purchaser”);

    OF
      THE FIRST PART

    

    AND:

    

    WANXIN
      BIO-TECHNOLOGY LIMITED,
      a
      corporation organized under the laws of the British Virgin Islands and having
      an
      address for notice and delivery located at Sea Meadow House, Blackburne Highway,
      (P.O. Box 116), Road Town, Tortola, British Virgin Islands

    

    (the
      “Company”);

    OF
      THE SECOND PART

    

    AND:

    

    WHEELOCK
      TECHNOLOGY LIMITED,
      a
      shareholder of Wanxin Bio-Technology Limited, having an address for notice
      and
      delivery at Unit A, 5th
      Floor,
      Wing Sing Commercial Centre, 12 Wing Lok Street, Sheung Wan, Hong
      Kong

    

    (“Wheelock”);

    OF
      THE THIRD PART

    

    AND:

    

    EVERTEAM
      TECHNOLOGY LIMITED,
      a
      shareholder of Wanxin Bio-Technology Limited, having an address for notice
      and
      delivery at P.O. Box 957, Offshore Incorporations Centre, Road Town, British
      Virgin Islands

    

    (“Everteam”);

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        3

      

    

    OF
      THE FOURTH PART

    

    AND:

    

    HARA
      INTELLIGENCE SYSTEMS CO. LIMITED,
      a
      shareholder of Wanxin Bio-Technology Limited, having an address for notice
      and
      delivery at P.O. Box 217, Apia, Samoa

    

    (“Hara”);

    OF
      THE FIFTH PART

    

    AND:

    

    SUTEE
      KAITSAKULSAK,
      a
      shareholder of Wanxin Bio-Technology Limited, having an address for notice
      and
      delivery at 328 Charoenkrung 65, Charoenkrungrd, Bangkok 10120

    

    (“Kaitsakulsak”);

    OF
      THE SIXTH PART

    

    AND:

    

    T.
      DUSADEE,
      a
      shareholder of Wanxin Bio-Technology Limited, having an address for notice
      and
      delivery at c/o 328 Charoenkrung 65, Charoenkrungrd, Bangkok 10120

    

    (“Dusadee”);

    OF
      THE SEVENTH PART

    

    AND:

    

    AGNES
      TONG WONG XUE,
      a
      shareholder of Wanxin Bio-Technology Limited, having an address for notice
      and
      delivery at ______________________________________

    _______________________________________________

    

    (“Xue”);

    OF
      THE EIGHTH PART

    

    AND:

    

    WANG
      HUI,
      a
      shareholder of Wanxin Bio-Technology Limited, having an address for notice
      and
      delivery at 2069 W. 44th
      Ave.,
      Vancouver, B.C., Canada V6M 2G1

    

    (“Hui”);

    OF
      THE NINTH PART

    

    AND:

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        4

      

    

     

    YANG
      BAN-JUN,
      a
      shareholder of Wanxin Bio-Technology Limited, having an address for notice
      and
      delivery at No. 99-A, Jalan Lunas Kulim, Kedah, Malaysia

    

    (“Ban-Jun”);

    OF
      THE TENTH PART

    

    (Wheelock,
      Everteam, Hara, Kaitsakulsak, Dusadee, Xue, Hui and Ban-Jun, each being
      hereinafter singularly referred to as a “Vendor”
and
      collectively referred to as the “Vendors”
as
      the
      context so requires”);

    

    

    (the
      Vendors, the Company and the Purchaser being hereinafter singularly also
      referred to as a “Party”
and
      collectively referred to as the “Parties”
as
      the
      context so requires).

    

    WHEREAS:

    

    A.  The
      Company is a body corporate subsisting under and registered pursuant to the
      laws
      of the British Virgin Islands;

    

    B.  The
      Company is
      the sole
      shareholder of Manhing Enterprises Limited, a company organized under the laws
      of Hong Kong, and Manhing Enterprises Limited is the registered owner of 82%
      of
      the capital of Shanghai Wanxing Bio-pharmaceuticals Co., Ltd., which is in
      the
      business of the
      production and development of genetically engineered recombinant protein drugs
      and vaccines (collectively,
      the “Company’s
      Business”);

    

    C.  The
      Vendors are the legal and beneficial owners of all of the issued and outstanding
      shares in the capital of the Company (each a “Purchased
      Share”);
      the
      particulars of the registered and beneficial ownership of such Purchased Shares
      being set forth in Schedule “A” which is attached hereto and which forms a
      material part hereof; and

    

    D.  The
      Parties hereto have agreed to enter into this Share Purchase Agreement (the
      “Agreement”)
      which
      formalizes, amends and replaces, in its entirety, the Letter of Intent, dated
      November 2, 2006 (the “Letter of Intent”) as contemplated and required by the
      terms of such Letter of Intent, and which clarifies their respective duties
      and
      obligations in connection with the purchase by the Purchaser from the Vendors
      of
      all of the Purchased Shares together with the further development of the
      Company’s Business as a consequence thereof;

    

    

    NOW
      THEREFORE THIS AGREEMENT WITNESSETH that
      in
      consideration of the mutual promises, covenants and agreements herein
      contained, THE
      PARTIES HERETO COVENANT AND AGREE WITH EACH OTHER
      as
      follows:

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        5

      

    

     

    Article
      1

    DEFINITIONS

     

    1.1  Definitions.
      For the
      purposes of this Agreement, except as otherwise expressly provided or unless
      the
      context otherwise requires, the following words and phrases shall have the
      following meanings:

    

    
      	 	
              (a)

            	
              “Agreement”
                means this “Share Purchase Agreement” as entered into among the Vendors,
                the Company and the Purchaser herein, together with any amendments
                thereto
                and any Schedules as attached
                thereto;

            

    

    

    
      	 	
              (b)

            	
              “Board
                of Directors”
                means, as applicable, the respective Board of Directors of each of
                the
                Parties hereto as duly constituted from time to
                time;

            

    

    

    
      	 	
              (c)

            	
              “business
                day”
                means any day during which Canadian Chartered Banks are open for
                business
                in the City of Vancouver, Province of British
                Columbia;

            

    

    

    
      	 	
              (d)

            	
              “Business
                Documentation”
                means any and all records and other factual data and information
                relating
                to the Company’s Business interests and assets and including, without
                limitation, all plans, agreements and records which are in the possession
                or control of the Vendors or the Company in that
                respect;

            

    

    

    
      	 	
              (e)

            	
              “Closing”
                has the meaning ascribed to it in Article “6.1”
                hereinbelow;

            

    

    

    
      	 	
              (f)

            	
              “Closing
                Date”
                has the meaning ascribed to it in Article “6.1”
                hereinbelow;

            

    

    

    
      	 	
              (g)

            	
              “Commercial
                Arbitration Act”
                means the Arbitration
                Act
                of
                the Province of British Columbia, R.S.B.C. 1996, as amended from
                time to
                time, as set forth in Article “11”
hereinbelow;

            

    

    

    
      	 	
              (h)

            	
              “Commissions”
                means the United States Securities and Exchange
                Commission;

            

    

    

    
      	 	
              (i)

            	
              “Common
                Shares”
                means the 1,750,000 shares of common stock of the Purchaser to be
                issued
                and delivered to the Vendors on a pro rata basis as part of the Purchase
                Price of the Purchased Shares;

            

    

    

    
      	 	
              (j)

            	
              “Company”
                means Wanxin Bio-Technology Limited, a corporation organized under
                the
                laws of the British Virgin Islands, or any successor company, however
                formed, whether as a result of merger, amalgamation or other
                action;

            

    

    

    
      	 	
              (k)

            	
              “Company’s
                Assets”
                means all assets, contracts, equipment, goodwill, inventory and
                Intellectual Property of the
                Company;

            

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        6

      

    

     

    
      	 	
              (l)

            	
              “Company’s
                Business”
                has the meaning ascribed to it in recital “B.”
                hereinabove;

            

    

    

    
      	 	
              (m)

            	
              “Company’s
                Financial Statements”
                has the meaning ascribed to it in Article “3.3(s)”
                hereinbelow;

            

    

    

    
      	 	
              (n)

            	
              “Defaulting
                Party”
                and “Non-Defaulting
                Party”
                have the meanings ascribed to them in Article “12”
                hereinbelow;

            

    

    

    
      	 	
              (o)

            	
              “Encumbrances”
                means mortgages, liens, charges, security interests, encumbrances
                and
                third party claims of any nature;

            

    

    

    
      	 	
              (p)

            	
              “Exchange”
                means the NASD Over-the-Counter Bulletin
                Board;

            

    

    

    
      	 	
              (q)

            	
              “Execution
                Date”
                means the actual date of the complete execution of this Agreement
                and any
                amendment thereto by all Parties hereto as set forth on the front
                page
                hereof;

            

    

    

    
      	 	
              (r)

            	
              “Indemnified
                Party”
                and “Indemnified
                Parties”
                have the meanings ascribed to them in Article “7.1”
                hereinbelow;

            

    

    

    
      	 	
              (s)

            	
              “Intellectual
                Property”
                means, with respect to the Company, all right and interest to all
                patents,
                patents pending, inventions, know-how, any operating or identifying
                name
                or registered or unregistered trademarks and tradenames, all computer
                programs, licensed end-user software, source codes, products and
                applications (and related documentation and materials) and other
                works of
                authorship (including notes, reports, other documents and materials,
                magnetic, electronic, sound or video recordings and any other work
                in
                which copyright or similar right may subsist) and all copyrights
                (registered or unregistered) therein, industrial designs (registered
                or
                unregistered), franchises, licenses, authorities, restrictive covenants
                or
                other industrial or intellectual property used in or pertaining to
                the
                Company;

            

    

    

    
      	 	
              (t)

            	
              “Parties”
                or “Party”
                means, respectively, the Vendors, the Company and/or the Purchaser
                hereto,
                as the case may be, together with their respective successors and
                permitted assigns as the context so
                requires;

            

    

    

    
      	 	
              (u)

            	
              “person”
                or “persons”
                means an individual, corporation, partnership, party, trust, fund,
                association and any other organized group of persons and the personal
                or
                other legal representative of a person to whom the context can apply
                according to law;

            

    

    

    
      	 	
              (v)

            	
              “Purchased
                Shares”
                has the meaning ascribed to it in recital “C.” hereinabove; the
                particulars of the registered and beneficial ownership of such Purchased
                Securities being set forth in Schedule “A” which is attached
                hereto;

            

    

    

    
      	 	
              (w)

            	
              “Purchase
                Price”
                has the meaning ascribed to it in Article “2.2”
                hereinbelow;

            

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        7

      

    

     

    
      	 	
              (x)

            	
              “Purchaser”
                means CDoor Corp., a corporation organized under the laws of the
                State of
                Delaware, or any successor company, however formed, whether as a
                result of
                merger, amalgamation or other
                action;

            

    

    

    
      	 	
              (y)

            	
              “Purchaser’s
                Initial Due Diligence”
                has the meaning ascribed to it in Article “5.1(b)”
                hereinbelow;

            

    

    

    
      	 	
              (z)

            	
              “Purchaser’s
                Ratification”
                has the meaning ascribed to it in Article “5.1(a)”
                hereinbelow;

            

    

    

    
      	 	
              (aa)

            	
              “Takeover”
                means that transaction or series of transactions pursuant to which
                the
                Purchaser will acquire all of the Purchased Shares of the Company
                from the
                Vendors in exchange for the issuance by the Purchaser of 1,750,000
                shares
                of common stock of the Purchaser and all matters necessarily ancillary
                thereto;

            

    

    

    
      	 	
              (ab)

            	
              “Time
                of Closing”
                means 2:00 o’clock, p.m. (Vancouver Time) on the Closing
                Date;

            

    

    

    
      	 	
              (ac)

            	
              “Transfer
                Agent”
                means Nevada Agency & Trust Company;
                and

            

    

    

    
      	 	
              (ad)

            	
              “Vendors”
                means the shareholders of the Company who have executed this Agreement
                as
                a Party hereto.

            

    

     

    1.2  Schedules. For
      the
      purposes of this Agreement, except as otherwise expressly provided or unless
      the
      context otherwise requires, the following shall represent the Schedules which
      are attached to this Agreement and which form a material part
      hereof:

     

    
      
        	 	
                Schedule

              	 	
                Description

              
	 	 	 	 
	 	
                Schedule
                  “A”:

              	 	
                Purchased
                  Shares and Vendors;

              
	 	
                Schedule
                  “B”

              	 	
                Financial
                  Statements;

              
	 	
                Schedule
                  “C”

              	 	
                Material
                  Contracts;

              
	 	
                Schedule
                  “D”

              	 	
                Encumbrances;

              
	 	
                Schedule
                  “E”

              	 	
                Pending,
                  Outstanding or Unresolved Claims or Greivances; and

              
	 	
                Schedule
                  “F”

              	 	
                Banks
                  and Bank Accounts.

              

      

    1.3  Interpretation. For
      the
      purposes of this Agreement, except as otherwise expressly provided or unless
      the
      context otherwise requires,:

    

    
      	 	
              (a)

            	
              the
                words “herein”, “hereof” and “hereunder” and other words of similar import
                refer to this Agreement as a whole and not to any particular Article,
                section or other subdivision of this
                Agreement;

            

    

    

    
      	 	
              (b)

            	
              any
                reference to an entity shall include and shall be deemed to be a
                reference
                to any entity that is a permitted successor to such entity;
                and

            

    

    

    
      	 	
              (c)

            	
              words
                in the singular include the plural and words in the masculine gender
                include the feminine and neuter genders, and vice
                versa.

            

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        8

      

    

    

    Article
      2

    PURCHASE
      AND SALE OF THE ALL OF THE PURCHASED SHARES

    

    2.1  Purchase
      and Sale.
      Subject
      to the terms and conditions hereof and based upon the representations and
      warranties contained in Articles “3” and “4” hereinbelow and prior satisfaction
      of the conditions precedent which are set forth in Article “5” hereinbelow, the
      Vendors hereby agrees to assign, sell and transfer at the Closing Date (as
      hereinafter determined) all of their respective rights, entitlement and interest
      in and to the Purchased Shares to the Purchaser and the Purchaser hereby agrees
      to purchase all of the Purchased Shares from the Vendors on the terms and
      subject to the conditions contained in this Agreement.

    

    2.2  Purchase
      Price.
      The
      total purchase price (the “Purchase
      Price”)
      for
      all of the Purchased Shares will be satisfied by way of the issuance and
      delivery by the Purchaser to the Vendors, in accordance with section “2.3”
hereinbelow, of an aggregate of 1,750,000 shares of common stock in the capital
      of the Purchaser (each a “Common
      Share”)
      on a
      pro rata basis in accordance with each Vendors percentage ownership in the
      Company.

    

    2.3  Resale
      Restrictions.
      The
      Vendors hereby acknowledge and agree that the Purchaser makes no representations
      as to any resale or other restriction affecting the Common Shares and that
      it is
      presently contemplated that the Common Shares will be issued by the Purchaser
      to
      the Vendors in reliance upon the registration and prospectus exemptions
      contained in the United States
      Securities Act of 1933,
      as
      amended (the “Securities
      Act”)
      or
“Regulation
      S”
      promulgated under the Securities Act which will impose a trading restriction
      in
      the United States on the Common Shares for a period of at least 12 months from
      the Closing Date (as hereinafter determined). In addition, the obligation of
      the
      Purchaser to issue the Common Shares pursuant to section “2.2” hereinabove will
      be subject to the Purchaser being satisfied that an exemption from applicable
      registration and prospectus requirements is available under the Securities
      Act
      and all applicable securities laws, in respect of the Vendors and related Common
      Shares, and the Purchaser shall be relieved of any obligation whatsoever to
      purchase any Purchased Shares of the Vendors and to issue Common Shares in
      respect of the Vendors where the Purchaser reasonably determines that a suitable
      exemption is not available to it. 

    

    Article
      3

    REPRESENTATIONS,
      WARRANTIES AND COVENANTS

    BY
      THE COMPANY AND THE VENDOR

    

    

    3.1  General
      Representations, Warranties and Covenants by the Company and the
      Vendors.
      In
      order to induce the Purchaser to enter into and consummate this Agreement,
      the
      Company and the Vendors, jointly and severally, represents to, warrants to
      and
      covenants with the Purchaser, with the intent that the Purchaser will rely
      thereon in entering into this Agreement and in concluding the transactions
      contemplated herein, that, to the best of the knowledge, information and belief
      of each of the Vendors and the Company, after having made due
      inquiry:

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        9

      

    

    

      
        	 	
                (a)

              	
                if
                  a corporation, it is duly organized under the laws of its respective
                  jurisdiction of incorporation and is validly existing and in good
                  standing
                  with respect to all statutory filings required by the applicable
                  corporate
                  laws; 

              

      

      

      
        	 	
                (b)

              	
                it
                  is qualified to do business in those jurisdictions where it is
                  necessary
                  to fulfill its obligations under this Agreement and it has the
                  full power
                  and authority to enter into this Agreement and any agreement or
                  instrument
                  referred to or contemplated by this Agreement;

              

      

      

      
        	 	
                (c)

              	
                it
                  has the requisite power, authority and capacity to own and use
                  all of its
                  respective business assets and to carry on its respective business
                  as
                  presently conducted by it and to fulfill its respective obligations
                  under
                  this Agreement; 

              

      

      

      
        	 	
                (d)

              	
                the
                  execution and delivery of this Agreement and the agreements contemplated
                  hereby have been duly authorized by all necessary action, corporate
                  or
                  otherwise, on its respective part; 

              

      

      

      
        	 	
                (e)

              	
                there
                  are no other consents, approvals or conditions precedent to the
                  performance of this Agreement which have not been obtained;
                  

              

      

      

      
        	 	
                (f)

              	
                this
                  Agreement constitutes a legal, valid and binding obligation of
                  it
                  enforceable against it in accordance with its terms, except as
                  enforcement
                  may be limited by laws of general application affecting the rights
                  of
                  creditors; 

              

      

      

      
        	 	
                (g)

              	
                no
                  proceedings are pending for, and it is unaware of, any basis for
                  the
                  institution of any proceedings leading to its respective dissolution
                  or
                  winding up, or the placing of it in bankruptcy or subject to any
                  other
                  laws governing the affairs of insolvent companies or persons;
                  

              

      

      

      
        	 	
                (h)

              	
                the
                  making of this Agreement and the completion of the transactions
                  contemplated hereby and the performance of and compliance with
                  the terms
                  hereof does not and will not:

              

      

    
      	
            	(i)	
              if
                a corporation, conflict with or result in a breach of or violate
                any of
                the terms, conditions or provisions of its respective constating
                documents;

            

    

    

    
      	
            	(ii)	
              conflict
                with or result in a breach of or violate any of the terms, conditions
                or
                provisions of any law, judgment, order, injunction, decree, regulation
                or
                ruling of any Court or governmental authority, domestic or foreign,
                to
                which it is subject, or constitute or result in a default under any
                agreement, contract or commitment to which it is a
                party;

            

    

    

    
      	
            	(iii)	
              give
                to any party the right of termination, cancellation or acceleration
                in or
                with respect to any agreement, contract or commitment to which it
                is a
                party;

            

    

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        10

      

    

     

    
      	
               

               

            	(iv)	
              give
                to any government or governmental authority, or any municipality
                or any
                subdivision thereof, including any governmental department, commission,
                bureau, board or administration agency, any right of termination,
                cancellation or suspension of, or constitute a breach of or result
                in a
                default under, any permit, license, control or authority issued to
                it
                which is necessary or desirable in connection with the conduct and
                operations of its respective business and the ownership or leasing
                of its
                respective business assets; or

            

    

    

    
      	
            	(v)	
              constitute
                a default by it, or any event which, with the giving of notice or
                lapse of
                time or both, might constitute an event of default, under any agreement,
                contract, indenture or other instrument relating to any indebtedness
                of it
                which would give any party to that agreement, contract, indenture
                or other
                instrument the right to accelerate the maturity for the payment of
                any
                amount payable under that agreement, contract, indenture or other
                instrument; and

            

    

    

    
      	 	
              (i)

            	
              neither
                this Agreement nor any other document, certificate or statement furnished
                to the Purchaser by or on behalf of any of the Vendors or the Company
                in
                connection with the transactions contemplated hereby knowingly or
                negligently contains any untrue or incomplete statement of material
                fact
                or omits to state a material fact necessary in order to make the
                statements therein not misleading which would likely affect the decision
                of the Purchaser to enter into this
                Agreement.

            

    

    

    
      	 	
              (j)

            	
              the
                Company is the sole shareholder of Manhing Enterprises Limited, a
                company
                organized under the laws of Hong Kong, of which Manhing Enterprises
                Limited is the registered owner of 82% of the registered capital
                of
                Shanghai Wanxing Bio-pharmaceuticals Co.,
                Ltd.

            

    

    

    

    3.2  Representations,
      Warranties and Covenants by the Vendors respecting the Purchased Shares and
      the
      Common Shares.
      In
      order to induce the Purchaser to enter into and consummate this Agreement,
      the
      Vendors hereby represent to, warrant to and covenant with the Purchaser, with
      the intent that the Purchaser will also rely thereon in entering into this
      Agreement and in concluding the transactions contemplated herein, that, to
      the
      best of the knowledge, information and belief of the Vendors, after having
      made
      due inquiry:

    

      
        	 	
                (a)

              	
                save
                  and except as set forth in Schedule “A” which is attached hereto, the
                  Vendors have good and marketable title to and are the legal and
                  beneficial
                  owners of all of the Purchased Shares, and the Purchased Shares
                  are fully
                  paid and non-assessable and are free and clear of liens, charges,
                  encumbrances, pledges, mortgages, hypothecations, security interests
                  and
                  adverse claims of any and all nature whatsoever and including,
                  without
                  limitation, options, pre-emptive rights and other rights of acquisition
                  in
                  favour of any person, whether conditional or absolute;
                  

              

      

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          11

        

      

       

      
        	 	
                (b)

              	
                the
                  Vendors have the power and capacity to own and dispose of the Purchased
                  Shares, and the Purchased Shares are not subject to any voting
                  or similar
                  arrangement; 

              

      

      

      
        	 	
                (c)

              	
                there
                  are no actions, suits, proceedings or investigations (whether or
                  not
                  purportedly against or on behalf of the Vendors or the Company),
                  pending
                  or threatened, which may affect, without limitation, the rights
                  of the
                  Vendors to transfer any of the Purchased Shares to the Purchaser
                  at law or
                  in equity, or before or by any federal, state, provincial, municipal
                  or
                  other governmental department, commission, board, bureau, agency
                  or
                  instrumentality, domestic or foreign, and, without limiting the
                  generality
                  of the foregoing, there are no claims or potential claims under
                  any
                  relevant family relations legislation or other equivalent legislation
                  affecting the Purchased Shares. In addition, the Vendors are not
                  now aware
                  of any existing ground on which any such action, suit or proceeding
                  might
                  be commenced with any reasonable likelihood of success;
                  

              

      

      

      
        	 	
                (d)

              	
                no
                  other person, firm or corporation has any agreement, option or
                  right
                  capable of becoming an agreement for the purchase of any of the
                  Purchased
                  Shares; 

              

      

    
      	 	
              (e)

            	
              the
                Vendors acknowledge that the Common Shares will be issued under certain
                exemptions from the registration and prospectus filing requirements
                otherwise applicable under the Securities Act, and that, as a result,
                the
                Vendors may be restricted from using most of the remedies that would
                otherwise be available to the Vendors, the Vendors will not receive
                information that would otherwise be required to be provided to the
                Vendors
                and the Purchaser is relieved from certain obligations that would
                otherwise apply to the Purchaser, in either case, under applicable
                securities legislation;

            

    

    

    
      	 	
              (f)

            	
              the
                Vendors have not received, nor have the Vendors requested nor do
                the
                Vendors require to receive, any offering memorandum or a similar
                document
                describing the business and affairs of the Purchaser in order to
                assist
                the Vendors in entering into this Agreement and in consummating the
                transactions contemplated herein;

            

    

    

    
      	 	
              (g)

            	
              the
                Vendors acknowledge and agree that the Common Shares have not been
                and
                will not be qualified or registered under the securities laws of
                the
                United States or any other jurisdiction and, as such, the Vendors
                may be
                restricted from selling or transferring such Common Shares under
                applicable law;

            

    

    

    
      	 	
              (h)

            	
              the
                Vendors are residents in the jurisdiction as set forth under the
                Vendors’
                address in Schedule “A” which is attached hereto, and that all
                negotiations and other acts in furtherance of the execution and delivery
                of this Agreement by the Vendors in connection with the transactions
                contemplated herein have taken place and will take place solely in
                such
                jurisdiction or in the state of Delaware;
                and

            

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        12

      

    

     

    
      	
            	(i)	
              the
                Purchased Shares have been issued in accordance with all applicable
                securities and corporate legislation and
                policies.

            

    

     

    3.3  Representations,
      Warranties and Covenants by the Company and the Vendors respecting the
      Company.
      In
      order to induce the Purchaser to enter into and consummate this Agreement,
      each
      of the Vendors and the Company hereby, jointly and severally, also represents
      to, warrants to and covenants with the Purchaser, with the intent that the
      Purchaser will also rely thereon in entering into this Agreement and in
      concluding the transactions contemplated herein, that, to the best of the
      knowledge, information and belief of each of the Vendors and the Company, after
      having made due inquiry:

    Corporate
      Status of the Company

    

    
      	 	
              (a)

            	
              the
                Company is a company with limited liability duly and properly organized
                and validly subsisting under the laws of the British Virgin Islands
                being
                the only jurisdiction where it is required to be registered for the
                purpose of enabling it to carry on its business and own its property
                as
                presently carried on and owned;

            

    

    

    
      	 	
              (b)

            	
              the
                Company has good and sufficient power, authority and right to own
                or lease
                its property, to enter into this Agreement and to perform its obligations
                hereunder;

            

    

    

    Authorization

    

    
      	 	
              (c)

            	
              this
                Agreement has been duly authorized, executed and delivered by the
                Vendors
                and the Company and is a legal, valid and binding obligation of the
                Vendors and the Company, enforceable against the Vendors and/or the
                Company, as the case may be, by the Purchaser in accordance with
                its
                terms, except as enforcement may be limited by bankruptcy, insolvency
                and
                other laws affecting the rights of creditors generally and except
                that
                equitable remedies may be granted only in the discretion of a court
                of
                competent jurisdiction;

            

    

    No
      Other Agreements to Purchase

    

    
      	 	
              (d)

            	
              no
                person other than the Purchaser has any written or oral agreement
                or
                option or any right or privilege (whether by law, pre-emptive or
                contractual) capable of becoming an agreement, or option for the
                purchase
                or acquisition from the Vendors of any of the Purchased
                Shares;

            

    

    Options

    

    
      	 	
              (e)

            	
              no
                person has any agreement or option or any right or privilege (whether
                by
                law, pre-emptive or contractual) capable of becoming an agreement,
                including convertible securities, warrants or convertible obligations
                of
                any nature, for the purchase, subscription, allotment or issuance
                of any
                unissued shares or other securities of the
                Company;

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        13

      

       

    

    Title
      to Shares
      

    

    
      	 	
              (f)

            	
              the
                Purchased Shares are beneficially owned by the Vendors with good
                and
                marketable title thereto free of all Encumbrances and are registered
                in
                the books of the Company in the name of the Vendors and, without
                limitation thereto, none of the Purchased Shares are subject to any
                voting
                trust, unanimous shareholders agreement, other shareholders agreements,
                pooling agreements or voting
                agreements;

            

    

    

    
      	 	
              (g)

            	
              upon
                completion of the transactions contemplated by this Agreement, all
                of the
                Purchased Shares will be owned by the Purchaser as the beneficial
                owner of
                record, with good and marketable title thereto (except for such
                Encumbrances as may have been granted by the
                Purchaser);

            

    

    

    Title
      to Personal Property
      and Other Property

    

    
      	 	
              (h)

            	
              the
                property and assets of the Company are, and between the date hereof
                and
                the Closing Date (as hereinafter determined), will be, owned beneficially
                by the Company with a good and marketable title thereto, free and
                clear of
                all Encumbrances save as previously disclosed to the
                Purchaser;

            

    

    

    Intellectual
      Property

    
      	 	
              (i)

            	
              the
                Company has provided the Purchaser with a complete and accurate list
                of
                all trade marks, trade names, business names, patents, inventions,
                know-how, copyrights, service marks, brand names, industrial designs
                and
                all other industrial or intellectual property owned or used by the
                Company
                in carrying on the Company’s Business and all applications therefor and
                all goodwill connected therewith, including, without limitation,
                all
                licenses, registered user agreements and all like rights used by
                or
                granted to the Company in connection with the Company’s Business and all
                right to register or otherwise apply for the protection on any of
                the
                foregoing (collectively, the “Intellectual
                Property”);

            

    

    

    
      	 	
              (j)

            	
              the
                Intellectual Property comprises all trade marks, trade names, business
                names, patents, inventions, know-how, copyrights, service marks,
                brand
                marks, industrial designs and all other industrial or intellectual
                property necessary to conduct the Company’s
                Business;

            

    

    

    
      	 	
              (k)

            	
              the
                Company is the beneficial owner of the Intellectual Property, free
                and
                clear of all Encumbrances, and is not a party to or bound by any
                contract
                or other obligation whatsoever that limits or impairs its ability
                to sell,
                transfer, assign or convey, or that otherwise affects, the Intellectual
                Property;

            

    

    

    
      	 	
              (l)

            	
              no
                person has been granted any interest in or right to use all or any
                portion
                of the Intellectual Property;

            

    

    

    
      	 	
              (m)

            	
              neither
                the Vendors nor the Company are aware of a claim of any infringement
                or
                breach of any industrial or intellectual property rights of any other
                person by the Company, nor have the Vendors or the Company received
                any
                notice that the conduct of the Company’s Business infringes or breaches
                any industrial or intellectual property rights of any other person,
                and
                neither the Vendors nor the Company, after due inquiry, have any
                knowledge
                of any infringement or violation of any of their rights or the rights
                of
                the Company in the Intellectual
                Property;

            

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        14

      

       

    

    
      	 	
              (n)

            	
              the
                conduct of the Company’s Business does not infringe upon the patents,
                trade marks, licenses, trade names, business names, copyright or
                other
                industrial or intellectual property rights, domestic or foreign,
                of any
                other person;

            

    

    

    
      	 	
              (o)

            	
              neither
                the Vendors nor the Company are aware of any state of facts that
                casts
                doubt on the validity or enforceability of any of the Intellectual
                Property;

            

    

    

    
      	 	
              (p)

            	
              the
                Company has provided to the Purchaser a true and complete copy of
                all
                Contracts and amendments thereto that comprise or relate to the
                Intellectual Property;

            

    

     

    Financial
      Statements

    

    
      	 	
              (q)

            	
              the
                Company’s unadited Financial Statements for the nine month period ended
                September 30, 2006 and the auditied Financial Statements for the
                fiscal
                years ended December 31, 2004 and 2005, have been prepared in accordance
                with generally accepted accounting principles applied on a basis
                consistent with prior periods, are correct and complete and present
                fairly
                the assets, liabilities (whether accrued, absolute, contingent or
                otherwise) and financial condition of the Company as at the respective
                dates of and for the respective periods covered by the Company’s Financial
                Statements;

            

    

    

    
      	 	
              (r)

            	
              for
                any period up to the Time of Closing the Company will not have any
                debts
                or liabilities whatsoever (whether accrued, absolute or contingent
                or
                otherwise), including any liabilities for federal, state, provincial,
                sales, excise, income, corporate or any other taxes of the Company
                except
                for;

            

      	 	 	 

    

    
      	 	
              (i)

            	
              the
                debts and liabilities disclosed on, provided for or included in the
                balance sheet forming a part of the most recent of the Company’s Financial
                Statements;

            

    

    

    
      	 	
              (ii)

            	
              debts
                or liabilities disclosed in this Agreement or any Schedule hereto;
                and

            

    

    

    
      	 	
              (iii)

            	
              liabilities
                incurred by the Company in the ordinary course of the Company’s Business
                subsequent to the date of the balance sheet referred to in the Company’s
                Financial Statements;

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        15

      

       

    

    Books
      and Records

    

    
      	 	
              (s)

            	
              the
                books and records of the Company fairly and correctly set out and
                disclose, in all material respects, in accordance with generally
                accepted
                accounting principles, consistently applied, the financial condition
                of
                the Company as of the date of this Agreement and all material financial
                transactions of the Company have been accurately recorded in such
                books
                and records;

            

    

    

    Corporate
      Records

    

    
      	 	
              (t)

            	
              the
                Corporate records and minute books of the Company contain complete
                and
                accurate minutes, (duly signed by the chairman and/or secretary of
                the
                appropriate meeting) of all meetings of the directors and shareholders
                of
                the Company since its date of
                incorporation;

            

    

    

    
      	 	
              (u)

            	
              the
                share certificate records, the securities register, the register
                of
                disclosures , the register of directors and officers for the Company
                are
                contained in the corporate minute book and are complete and accurate
                in
                all respects;

            

    

     

    Directors
      and Officers

    

    
      	 	
              (v)

            	
              the
                present directors and officers of the Company are as
                follows:

            

    

     

     

    
      
        	 	
                Name

              	 	
                Position

              
	 	 	 	 
	 	
                Robert
                  Chun Chung Ip

              	 	
                Director

              

      

    

    

    Accuracy
      of Warranties

    

    
      	 	
              (w)

            	
              neither
                this Agreement nor any document, schedule, list, certificate, declaration
                under oath or written statement now or hereafter furnished by the
                Vendors
                or the Company to the Purchaser in connection with the transactions
                contemplated by this Agreement contains or will contain any untrue
                statement or representation of a material fact on the part of the
                Vendors
                or the Company, or omits or will omit on behalf of the Vendors or
                the
                Company to state a material fact necessary to make any such statement
                or
                representation therein or herein contained not misleading;
                and

            

    

    Full
      Disclosure

    

    
      	 	
              (x)

            	
              the
                Vendors have no information or knowledge of any fact not communicated
                to
                the Purchaser and relating to the Company or to the Company’s Business or
                to the Purchased Shares which, if known to the Purchaser, might reasonably
                be expected to deter the Purchaser from entering into this Agreement
                or
                from completing the transactions contemplated by this
                Agreement.

            

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        16

      

       

    

    

    3.4  Survival
      of the Representations, Warranties and Covenants by each of the Vendors and
      the
      Company.
      To the
      extent they have not been fully performed at or prior to the Time of Closing,
      each and every representation and warranty of the Vendors or the Company
      contained in this Agreement and any agreement, instrument, certificate or other
      document executed or delivered pursuant to this Agreement shall:

    

    
      	 	
              (a)

            	
              be
                true and correct on and as of the Closing Date with the same force
                and
                effect as though made or given on the Closing Date;
                

            

    

    

    
      	 	
              (b)

            	
              remain
                in full force and effect notwithstanding any investigations conducted
                by
                or on behalf of the Purchaser; and 

            

    

    

    
      	 	
              (c)

            	
              survive
                the completion of the transactions contemplated by this Agreement
                until
                the second anniversary of the Closing Date and shall continue in
                full
                force and effect for the benefit of the Purchaser during that period,
                except that:

            

    

    
      	 	
              (i)

            	
              the
                representations and warranties set out in section 3.2(a) to and including
                3.2(i) above shall survive and continue in full force and effect
                without
                limitation of time;
                and

            

    

    

    
      	 	
              (ii)

            	
              a
                claim for any breach of any of the representations and warranties
                contained in this Agreement or in any agreement, instrument, certificate
                or other document executed or delivered pursuant hereto involving
                fraud or
                fraudulent misrepresentation may be made at any time following the
                Closing
                Date, subject only to applicable limitation periods imposed by
                law.

            

    

    

    
      	 	
              (d)

            	
              to
                the extent they have not been fully performed at or prior to the
                Time of
                Closing, each and every covenant of the Vendors contained in this
                Agreement and any agreement, instrument, certificate or other document
                executed or delivered pursuant to this Agreement shall survive the
                completion of the transactions contemplated by this Agreement and,
                notwithstanding such completion, shall continue in full force and
                effect
                for the benefit of the Purchaser.

            

    

     

    Article
      4

    WARRANTIES,
      REPRESENTATIONS AND COVENANTS BY THE PURCHASER

     

    4.1  Warranties,
      Representations and Covenants by the Purchaser.
      In
      order to induce the Vendors and the Company to enter into and consummate this
      Agreement, the Purchaser hereby warrants to, represents to and covenants with
      each of the Vendors and the Company, with the intent that each of the Vendors
      and the Company will rely thereon in entering into this Agreement and in
      concluding the transactions contemplated herein, that, to the best of the
      knowledge, information and belief of the Purchaser, after having made due
      inquiry:

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        17

      

       

    

    Corporate
      Status of the Purchaser

    

    
      	 	
              (a)

            	
              the
                Purchaser is a company with limited liability duly and properly
                incorporated, organized and validly subsisting under the laws of
                the State
                of Delaware being the only jurisdiction where it is required to be
                registered for the purpose of enabling it to carry on its business
                and own
                its property as presently carried on and
                owned;

            

    

    

    
      	 	
              (b)

            	
              the
                Purchaser has good and sufficient power, authority and right to own
                or
                lease its property, to enter into this Agreement and to perform its
                obligations hereunder;

            

    

    

    Authorization

    

    
      	 	
              (c)

            	
              this
                Agreement has been duly authorized, executed and delivered by the
                Purchaser and is a legal, valid and binding obligation of the Purchaser,
                enforceable against the Purchaser, as the case may be, by the Vendors
                and/or the Company in accordance with its terms, except as enforcement
                may
                be limited by bankruptcy, insolvency and other laws affecting the
                rights
                of creditors generally and except that equitable remedies may be
                granted
                only in the discretion of a court of competent
                jurisdiction;

            

    

    

    Share
      Capital

    

    
      	 	
              (d)

            	
              the
                authorized capital of the Purchaser consists of 50,000,000 shares
                of
                common stock of which 3,025,000 shares of common stock of the Purchaser
                have been duly issued and are outstanding as fully paid and
                non-assessable;

            

    

    

    
      	 	
              (e)

            	
              all
                of the issued and outstanding shares of the Purchaser are listed
                and
                posted for trading on the Exchange;

            

    

    

    
      	 	
              (f)

            	
              the
                Purchaser will allot and issue the Common Shares on the Closing Date
                in
                accordance with sections “2.2” and “2.3” hereinabove as fully paid and
                non-assessable in the capital of the Purchaser, free and clear of
                all
                actual or threatened liens, charges, security interests, options,
                encumbrances, voting agreements, voting trusts, demands, limitations
                and
                restrictions of any nature whatsoever, other than hold periods or
                other
                restrictions imposed under applicable securities legislation or by
                securities regulatory authorities;

            

    

    

    Options

    

    
      	 	
              (g)

            	
              no
                person has any agreement or option or any right or privilege (whether
                by
                law, pre-emptive or contractual) capable of becoming an agreement,
                including convertible securities, warrants or convertible obligations
                of
                any nature, for the purchase, subscription, allotment or issuance
                of any
                unissued shares or other securities of the
                Purchaser;

            

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        18

      

       

    

    Directors
      and Officers

    

    
      	 	
              (h)

            	
              the
                present directors and officers of the Purchaser are as
                follows:

            

    

    

      
        	 	
                Name

              	 	
                Position

              
	 	 	 	 
	 	
                
                  Ka
                    Yu

                

              	 	
                
                  President,
                    CEO, CFO, Secretary, Treasurer &
                    Director

                

              

      

      
      

    

     

    Full
      Disclosure

    

    
      	 	
              (i)

            	
              the
                Purchaser has no information or knowledge of any fact not communicated
                to
                the Vendors and the Company and relating to the Purchaser or to the
                Purchaser’s business or to its issued and outstanding securities which, if
                known to the Vendors and/or the Company, might reasonably be expected
                to
                deter the Vendors and/or the Company from entering into this Agreement
                or
                from completing the transactions contemplated by this
                Agreement.

            

    

     

    4.2  Survival
      of the Representations, Warranties and Covenants by the
      Purchaser.
      To the
      extent they have not been fully performed at or prior to the Time of Closing,
      each representation and warranty of the Purchaser contained in this Agreement
      or
      in any document, instrument, certificate or undertaking given pursuant hereto
      shall:

    

    
      	 	
              (a)

            	
              be
                true and correct on and as of the Closing Date with the same force
                and
                effect as though made or given on the Closing
                Date;

            

    

    

    
      	 	
              (b)

            	
              remain
                in full force an effect notwithstanding any investigations conducted
                by or
                on behalf of the Purchaser, and

            

      	 	 	 

    

    
      	 	
              (c)

            	
              survive
                the completion of the transactions contemplated by this Agreement
                until
                the second anniversary of the Closing Date
                and shall continue in full force and effect for the benefit of the
                Vendors
                and the Company during that period, except that a claim for any breach
                of
                any of the representations and warranties contained in this Agreement
                or
                in any agreement, instrument, certificate or other document executed
                or
                delivered pursuant hereto involving fraud or fraudulent misrepresentation
                may be made at any time following the Closing Date, subject only
                to
                applicable limitation periods imposed by
                law.

            

    

    

    
      	 	
              (d)

            	
              To
                the extent they have not been fully performed at or prior to the
                Time of
                Closing, each and every covenant of the Purchaser contained in this
                Agreement and any agreement, instrument, certificate or other document
                executed or delivered pursuant to this Agreement shall survive the
                completion of the transactions contemplated by this Agreement and,
                notwithstanding such completion, shall continue in full force and
                effect
                for the benefit of the Vendors and the
                Company.

            

    

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        19

      

    

     

    Article
      5

    CONDITIONS
      PRECEDENT TO CLOSING

     

    5.1  Parties’
      Conditions Precedent prior to the Closing Date.
      All of
      the rights, duties and obligations of each of the Parties hereto under this
      Agreement are subject to the following conditions precedent for the exclusive
      benefit of each of the Parties to be fulfilled in all material aspects in the
      reasonable opinion of each of the Parties or to be waived by each or any of
      the
      Parties, as the case may be, as soon as possible after the Execution Date;
      however, unless specifically indicated as otherwise, not later than the Time
      of
      Closing:

    

    
      	 	
              (a)

            	
              the
                specific ratification of the terms and conditions of this Agreement
                by the
                Board of Directors of the Purchaser within five business days of
                the due
                and complete execution of this Agreement by each of the Parties hereto
                (the “Purchaser’s
                Ratification”);

            

    

    

    
      	 	
              (b)

            	
              the
                completion by the Purchaser of an initial due diligence and operations
                review of the Company’s Business and operations within five (5) calendar
                days after the Purchaser’s Ratification (the “Purchaser’s
                Initial Due Diligence”);

            

    

    

    5.2  Parties’
      Waiver of Conditions Precedent.
      The
      conditions precedent set forth in section “5.1” hereinabove are for the
      exclusive benefit of each of the Parties hereto and may be waived by each of
      the
      Parties in writing and in whole or in part at or prior to the Time of
      Closing.

    

    

    5.3  The
      Vendor’s and the Company’s Conditions Precedent.
      The
      purchase and sale of the Purchased Securities is subject to the following terms
      and conditions for the exclusive benefit of the Vendors and the Company, to
      be
      fulfilled or performed at or prior to the Time of Closing:

    

    
      	 	
              (a)

            	
              the
                representations and warranties of the Purchaser contained in this
                Agreement shall be true and correct in all material respects at the
                Time
                of Closing, with the same force and effect as if such representations
                and
                warranties were made at and as of such time;

            

    

    

    
      	 	
              (b)

            	
              all
                of the terms, covenants and conditions of this Agreement to be complied
                with or performed by the Purchaser at or before the Time of Closing
                shall
                have been complied with or performed in all material
                respects;

            

    

    

    
      	 	
              (c)

            	
              there
                shall have been obtained, from all appropriate federal, provincial,
                municipal or other governmental or administrative bodies, such licenses,
                permits, consents, approvals, certificates, registrations and
                authorizations as are required by law, if any, to be obtained by
                the
                Purchaser to permit the change of ownership of the Purchased Shares
                contemplated hereby, in each case in form and substance satisfactory
                to
                the Vendors and the Company, acting
                reasonably;

            

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        20

      

    

     

    
      	 	
              (d)

            	
              no
                legal or regulatory action or proceeding shall be pending or threatened
                by
                any person to enjoin, restrict or prohibit the purchase and sale
                of the
                Purchased Shares contemplated
                hereby;

            

    

    

    If
      any of
      the conditions contained in this section 5.3 shall not be performed or fulfilled
      at or prior to the Time of Closing to the satisfaction of the Vendors and the
      Company, acting reasonably, the Vendors and/or the Company may, by notice to
      the
      Purchaser, terminate this Agreement and the obligations of the Vendors, the
      Company and the Purchaser under this Agreement, other than the obligations
      contained in Article 8 hereinbelow, shall be terminated, provided that the
      Vendors and the Company may also bring an action pursuant to Article 7 against
      the Purchaser for damages suffered by the Vendors and/or the Company where
      the
      non-performance or non-fulfillment of the relevant condition is as a result
      of a
      breach of covenant, representation or warranty by the Purchaser. Any such
      condition may be waived in whole or in part by the Vendors and the Company
      in
      writing without prejudice to any claims it may have for breach of covenant,
      representation or warranty.

     

    5.4  Purchaser’s
      Conditions Precedent prior to the Closing Date.
      The
      sale
      and purchase of the Purchased Shares is subject to the following terms and
      conditions for the exclusive benefit of the Purchaser, to be fulfilled or
      performed at or prior to the Time of Closing:

    

    
      	 	
              (a)

            	
              the
                representations and warranties of the Vendors and the Company contained
                in
                this Agreement shall be true and correct at the Time of Closing,
                with the
                same force and effect as if such representations and warranties were
                made
                at and as of such time;

            

    

    

    
      	 	
              (b)

            	
              all
                of the terms, covenants and conditions of this Agreement to be complied
                with or performed by the Vendors and the Company at or before the
                Time of
                Closing shall have been complied with or
                performed;

            

    

    

    
      	 	
              (c)

            	
              there
                shall have been obtained, from all appropriate federal, provincial,
                municipal or other governmental or administrative bodies, such licenses,
                permits, consents, approvals, certificates, registrations and
                authorizations as are required to be obtained, if any, by the Vendors
                and
                the Company to permit the change of ownership of the Purchased Shares
                contemplated hereby;

            

    

    

    
      	 	
              (d)

            	
              there
                shall have been no material adverse changes in the condition (financial
                or
                otherwise), assets, liabilities, operations, earnings, the Company’s
                Business or prospects of the Company since the date of the Company’s
                Financial Statements;

            

    

    

    
      	 	
              (e)

            	
              no
                legal or regulatory action or proceeding shall be pending or threatened
                by
                any person to enjoin, restrict or prohibit the purchase and sale
                of the
                Purchased Shares contemplated
                hereby;

            

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        21

      

    

     

    
      	 	
              (f)

            	
              no
                material damage by fire or other hazard to the whole or any material
                part
                of the property or assets of the Company shall have occurred from
                the date
                hereof to the Time of Closing;

            

    

    

    If
      any of
      the conditions contained in this section 5.4 shall not be performed or fulfilled
      at or prior to the Time of Closing to the satisfaction of the Purchaser, acting
      reasonably, the Purchaser may, by notice to the Vendors and the Company,
      terminate this Agreement and the obligations of the Vendors, the Company and
      the
      Purchaser under this Agreement, other than the obligations set forth in Article
      8, shall be terminated, provided that the Purchaser may also bring an action
      pursuant to Article 7 against the Vendors and/or the Company for damages
      suffered by the Purchaser where the non-performance or non-fulfillment of the
      relevant condition is as a result of a breach of covenant, representation or
      warranty by the Vendors or the Company. Any such condition may be waived in
      whole or in part by the Purchaser without prejudice to any claims it may have
      for breach of covenant, representation or warranty.

    

    Article
      6

    CLOSING
      AND EVENTS OF CLOSING

     

    6.1  Closing
      and Closing Date.
      The
      closing (the “Closing”)
      of the
      within purchase and delivery of the Purchased Shares, as contemplated in the
      manner as set forth in Article “2” hereinabove, together with all of the
      transactions contemplated by this Agreement shall occur on December 29, 2006
      (the “Closing
      Date”),
      or on
      such earlier or later Closing Date as may be agreed to in advance and in writing
      by each of the Parties hereto, and will be closed at the offices of solicitors
      for the Purchaser, Devlin Jensen, Barristers and Solicitors, located at Suite
      2550 - 555 W. Hastings St., Vancouver, B.C., V6B 4N5, at 2:00 p.m. (Vancouver
      time) on the Closing Date.

     

    6.2  Latest
      Closing Date.
      If the
      Closing Date has not occurred by January 5, 2007, subject to an extension as
      may
      be mutually agreed to by the Parties for a maximum of 14 days per extension,
      then the Purchaser and the Vendors shall each have the option to terminate
      this
      Agreement by delivery of written notice to the other Party. Upon delivery of
      such notice, this Agreement shall cease to be of any force and effect except
      for
      Article “8” hereinbelow, which shall remain in full force and effect
      notwithstanding the termination of this Agreement.

     

    6.3  Documents
      to be delivered by the Company and the Vendors prior to the Closing
      Date.
      Not
      later than five calendar days prior to the Closing Date, and in addition to
      the
      documentation which is required by the agreements and conditions precedent
      which
      are set forth hereinabove, the Company and the Vendors shall also execute and
      deliver or cause to be delivered to Purchaser’s counsel all such other
      documents, resolutions and instruments as may be necessary, in the opinion
      of
      counsel for the Purchaser, acting reasonably, to complete all of the
      transactions contemplated by this Agreement and including, without limitation,
      the necessary transfer of all of the Purchased Shares to the Purchaser free
      and
      clear of all liens, security interests, charges and encumbrances, and in
      particular including, but not being limited to, the following
      materials:

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        22

      

    

     

    
      	 	
              (a)

            	
              all
                documentation as may be necessary and as may be required by the solicitors
                for the Purchaser, acting reasonably, to ensure that all of the Purchased
                Shares have been transferred, assigned and are registerable in the
                name of
                and for the benefit of the Purchaser under all applicable corporate
                and
                securities laws;

            

    

    

    
      	 	
              (b)

            	
              certificates
                representing the Purchased Shares registered in the name of the Vendors,
                duly endorsed for transfer to the Purchaser and/or irrevocable stock
                powers transferring the Purchased Shares to the
                Purchaser;

            

    

    

    
      	 	
              (c)

            	
              certificates
                representing the Purchased Shares registered in the name of the
                Purchaser;

            

    

    

    
      	 	
              (d)

            	
              a
                certified copy of the resolutions of the directors (and of the
                Vendors/shareholders, if necessary) of the Company authorizing the
                transfer by the Vendors to the Purchaser of the Purchased
                Shares;

            

    

    

    
      	 	
              (e)

            	
              a
                copy of all corporate records and books of account of the Company
                and
                including, without limiting the generality of the foregoing, a copy
                of all
                minute books, share register books, share certificate books and annual
                reports of the Company;

            

    

    

    
      	 	
              (f)

            	
              all
                remaining Business Documentation;
                and

            

    

    

    
      	 	
              (g)

            	
              all
                such other documents and instruments as the Purchaser’s solicitors may
                reasonably require.

            

    

     

    6.4  Documents
      to be delivered by the Purchaser prior to the Closing
      Date.
      Not
      later than the Closing Date, and in addition to the documentation which is
      required by the agreements and conditions precedent which are set forth
      hereinabove, the Purchaser shall also execute and deliver or cause to be
      delivered to the Company’s and the Vendors’ counsel, all such other documents,
      resolutions and instruments that may be necessary, in the opinion of counsel
      for
      the Company and the Vendors, acting reasonably, to complete all of the
      transactions contemplated by this Agreement and including, without limitation,
      the necessary acceptance of the transfer of all of the Purchased Shares to
      the
      Purchaser free and clear of all liens, charges and encumbrances, and in
      particular including, but not being limited to, the following
      materials:

    

    
      	 	
              (a)

            	
              a
                copy of the resolutions of the directors of the Purchaser providing
                for
                the approval of all of the transactions contemplated
                hereby;

            

    

    

    
      	 	
              (b)

            	
              an
                executed treasury order of the Purchaser providing for the due issuance
                of
                all of the Purchase Price Common Shares to
                the order and direction of the Vendors in accordance with section
“2.2”
                and “2.3” hereinabove; and

            

    

    

    
      	 	
              (c)

            	
              all
                such other documents and instruments as the Company’s and the Vendors’
                respective solicitors may reasonably
                require.

            

    

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        23

      

    

     

    Article
      7

    INDEMNIFICATION
      AND LEGAL PROCEEDINGS

    

    

    7.1  Indemnification.
      The
      Parties hereto agree to indemnify and save harmless the other Parties hereto
      and
      including, where applicable, their respective affiliates, directors, officers,
      employees and agents (each such party being an “Indemnified
      Party”)
      harmless from and against and agree to be liable for any and all losses, claims,
      actions, suits, proceedings, damages, liabilities or expenses of whatever nature
      or kind, including any investigation expenses incurred by any Indemnified Party,
      to which an Indemnified Party may become subject by reason of the terms and
      conditions of this Agreement.

     

    7.2  No
      Indemnification.
      This
      indemnity will not apply in respect of an Indemnified Party in the event and
      to
      the extent that a court of competent jurisdiction in a final judgment shall
      determine that the Indemnified Party was grossly negligent or guilty of willful
      misconduct.

     

    7.3  Claim
      of Indemnification.
      The
      Parties hereto agree to waive any right they might have of first requiring
      the
      Indemnified Party to proceed against or enforce any other right, power, remedy,
      security or claim payment from any other person before claiming this
      indemnity.

     

    7.4  Notice
      of Claim.
      In case
      any action is brought against an Indemnified Party in respect of which indemnity
      may be sought against any of the Parties hereto, the Indemnified Party will
      give
      the relevant Party hereto prompt written notice of any such action of which
      the
      Indemnified Party has knowledge and such Party will undertake the investigation
      and defense thereof on behalf of the Indemnified Party, including the prompt
      consulting of counsel acceptable to the Indemnified Party affected and the
      payment of all expenses. Failure by the Indemnified Party to so notify shall
      not
      relieve any Party hereto of such Party’s obligation of indemnification hereunder
      unless (and only to the extent that) such failure results in a forfeiture by
      any
      Party hereto of substantive rights or defenses.

     

    7.5  Settlement.
      No
      admission of liability and no settlement of any action shall be made without
      the
      consent of each of the Parties hereto and the consent of the Indemnified Party
      affected, such consent not to be unreasonably withheld.

     

    7.6  Legal
      Proceedings.
      Notwithstanding that the relevant Party hereto will undertake the investigation
      and defense of any action, an Indemnified Party will have the right to employ
      separate counsel in any such action and participate in the defense thereof,
      but
      the fees and expenses of such counsel will be at the expense of the Indemnified
      Party unless:

    

    
      	 	
              (a)

            	
              such
                counsel has been authorized by the relevant Party
                hereto;

            

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        24

      

    

     

    
      	 	
              (b)

            	
              the
                relevant Party hereto has not assumed the defense of the action within
                a
                reasonable period of time after receiving notice of the
                action;

            

    

    

    
      	 	
              (c)

            	
              the
                named parties to any such action include that any Party hereto and
                the
                Indemnified Party shall have been advised by counsel that there may
                be a
                conflict of interest between any Party hereto and the Indemnified
                Party;
                or

            

    

    

    
      	 	
              (d)

            	
              there
                are one or more legal defenses available to the Indemnified Party
                which
                are different from or in addition to those available to any Party
                hereto.

            

    

     

    7.7  Contribution.
      If for
      any reason other than the gross negligence or bad faith of the Indemnified
      Party
      being the primary cause of the loss claim, damage, liability, cost or expense,
      the foregoing indemnification is unavailable to the Indemnified Party or
      insufficient to hold them harmless, the relevant Party hereto shall contribute
      to the amount paid or payable by the Indemnified Party as a result of any and
      all such losses, claim, damages or liabilities in such proportion as is
      appropriate to reflect not only the relative benefits received by any Party
      hereto on the one hand and the Indemnified Party on the other, but also the
      relative fault of the Parties and other equitable considerations which may
      be
      relevant. Notwithstanding the foregoing, the relevant Party hereto shall in
      any
      event contribute to the amount paid or payable by the Indemnified Party, as
      a
      result of the loss, claim, damage, liability, cost or expense (other than a
      loss, claim, damage, liability, cost or expenses, the primary cause of which
      is
      the gross negligence or bad faith of the Indemnified Party), any excess of
      such
      amount over the amount of the fees actually received by the Indemnified Party
      hereunder.

     

    Article
      8

    NON-DISCLOSURE

     

    8.1  Public
      Announcements and Disclosure to Regulatory Authorities.
      All
      information relating to the Agreement and the transaction contemplated therein
      shall be treated as confidential and no public disclosure shall be made by
      any
      Party without the prior approval of the Company and the Purchaser.
      Notwithstanding the provisions of this Article, the Parties hereto agree to
      make
      such public announcements and disclosure to the Regulatory Authorities of this
      Agreement promptly upon its execution all in accordance with the requirements
      of
      applicable securities legislation and regulations.

     

    Article
      9

    ASSIGNMENT
      AND AMENDMENT

     

    9.1  Assignment.
      Save
      and except as provided herein, no Party hereto may sell, assign, pledge or
      mortgage or otherwise encumber all or any part of its respective interest herein
      without the prior written consent of all of the other Parties
      hereto.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        25

      

    

    

    9.2  Amendment.
      This
      Agreement and any provision thereof may only be amended in writing and only
      by
      duly authorized signatories of each of the respective Parties
      hereto.

    

    

    Article
      10

    FORCE
      MAJEURE

     

    10.1  Events.
      If any
      Party hereto is at any time prevented or delayed in complying with any
      provisions of this Agreement by reason of strikes, walk-outs, labour shortages,
      power shortages, fires, wars, acts of God, earthquakes, storms, floods,
      explosions, accidents, protests or demonstrations by environmental lobbyists
      or
      native rights groups, delays in transportation, breakdown of machinery,
      inability to obtain necessary materials in the open market, unavailability
      of
      equipment, governmental regulations restricting normal operations, shipping
      delays or any other reason or reasons beyond the control of that Party, then
      the
      time limited for the performance by that Party of its respective obligations
      hereunder shall be extended by a period of time equal in length to the period
      of
      each such prevention or delay.

     

    10.2  Notice.
      A Party
      shall, within seven calendar days, give notice to the other Parties of each
      event of force
      majeure
      under
      section “10.1” hereinabove, and upon cessation of such event shall furnish the
      other Parties with notice of that event together with particulars of the number
      of days by which the obligations of that Party hereunder have been extended
      by
      virtue of such event of force
      majeure
      and all
      preceding events of force
      majeure.

     

    Article
      11

    ARBITRATION

     

    11.1  Matters
      for Arbitration.
      The
      Parties agree that all questions or matters in dispute with respect to this
      Agreement shall be submitted to arbitration pursuant to the terms
      hereof.

     

    11.2  Notice.
      It
      shall be a condition precedent to the right of any Party to submit any matter
      to
      arbitration pursuant to the provisions hereof that any Party intending to refer
      any matter to arbitration shall have given not less than 10 calendar days’ prior
      written notice of its intention to do so to the other Party together with
      particulars of the matter in dispute. On the expiration of such 10 calendar
      days
      the Party who gave such notice may proceed to refer the dispute to arbitration
      as provided in section “11.3” hereinbelow.

     

    11.3  Appointments.
      The
      Party desiring arbitration shall appoint one arbitrator, and shall notify the
      other Party of such appointment, and the other Party shall, within two calendar
      days after receiving such notice, appoint an arbitrator, and the two arbitrators
      so named, before proceeding to act, shall, within 10 calendar days of the
      appointment of the last appointed arbitrator, unanimously agree on the
      appointment of a third arbitrator, to act with them and be chairman of the
      arbitration herein provided for. If the other Party shall fail to appoint an
      arbitrator within 10 calendar days after receiving notice of the appointment
      of
      the first arbitrator, and if the two arbitrators appointed by the Parties shall
      be unable to agree on the appointment of the chairman, the chairman shall be
      appointed under the provisions of the Commercial
      Arbitration Act (British
      Columbia) (the “Arbitration
      Act”).
      Except as specifically otherwise provided in this section, the arbitration
      herein provided for shall be conducted in accordance with such Arbitration
      Act.
      The chairman, or in the case where only one arbitrator is appointed, the single
      arbitrator, shall fix a time and place in Vancouver, British Columbia, for
      the
      purpose of hearing the evidence and representations of the Parties, and he
      shall
      preside over the arbitration and determine all questions of procedure not
      provided for under such Arbitration Act or this section. After hearing any
      evidence and representations that the Parties may submit, the single arbitrator,
      or the arbitrators, as the case may be, shall make an award and reduce the
      same
      to writing, and deliver one copy thereof to each of the Parties. The expense
      of
      the arbitration shall be paid as specified in the award.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        26

      

    

    

    11.4  Award.
      The
      Parties agree that the award of a majority of the arbitrators, or in the case
      of
      a single arbitrator, of such arbitrator, shall be final and binding upon each
      of
      them.

     

    Article
      12

    DEFAULT
      AND TERMINATION

     

    12.1  Default.
      The
      Parties hereto agree that if any Party hereto is in default with respect to
      any
      of the provisions of this Agreement (herein called the “Defaulting
      Party”),
      the
      non-defaulting Party (herein called the “Non-Defaulting
      Party”)
      shall
      give notice to the Defaulting Party designating such default, and within 10
      calendar days after its receipt of such notice, the Defaulting Party shall
      either:

    

    
      	 	
              (a)

            	
              cure
                such default, or commence proceedings to cure such default and prosecute
                the same to completion without undue delay;
                or

            

    

    

    
      	 	
              (b)

            	
              give
                the Non-Defaulting Party notice that it denies that such default
                has
                occurred and that it is submitting the question to arbitration as
                herein
                provided.

            

    

     

    12.2  Arbitration.
      If
      arbitration is sought, a Party shall not be deemed in default until the matter
      shall have been determined finally by appropriate arbitration under the
      provisions of Article “11” hereinabove.

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        27

      

    

     

    12.3  Curing
      the Default.
      If:

    

    
      	 	
              (a)

            	
              the
                default is not so cured or the Defaulting Party does not commence
                or
                diligently proceed to cure the default;
                or

            

    

    

    
      	 	
              (b)

            	
              arbitration
                is not so sought; or

            

    

    

    
      	 	
              (c)

            	
              the
                Defaulting Party is found in arbitration proceedings to be in default,
                and
                fails to cure it within five calendar days after the rendering of
                the
                arbitration award,

            

    

    

    the
      Non-Defaulting Party may, by written notice given to the Defaulting Party at
      any
      time while the default continues, terminate the interest of the Defaulting
      Party
      in and to this Agreement.

     

    12.4  Termination.
      In
      addition to the foregoing it is hereby acknowledged and agreed by the Parties
      hereto that this Agreement will be terminated in the event that:

    

    
      	 	
              (a)

            	
              the
                Purchaser’s Ratification is not received within five business days of the
                due and complete execution of this Agreement by each of the Parties
                hereto;

            

    

    

    
      	 	
              (b)

            	
              the
                Purchaser fails to complete a successful and Purchaser’s Initial Due
                Diligence review of the Company’s business and operations within five (5)
                calendar days of the prior satisfaction by the Purchaser of the
                Purchaser’s Ratification;

            

    

    

    
      	 	
              (c)

            	
              the
                conditions specified in section “5.1” hereinabove have not been satisfied
                at or prior to the Time of Closing;

            

    

    

    
      	 	
              (d)

            	
              either
                of the Parties hereto has not either satisfied or waived each of
                their
                respective conditions precedent at or prior to the Time of Closing
                in
                accordance with the provisions of Article “5”
                hereinabove;

            

    

    

    
      	 	
              (e)

            	
              either
                of the Parties hereto has failed to deliver or caused to be delivered
                any
                of their respective documents required to be delivered by Articles
“5” and
                “6” hereinabove at or prior to the Time of Closing in accordance with
                the
                provisions of Articles “5” and “6”;
                or

            

    

    

    
      	 	
              (f)

            	
              by
                Closing has not occurred on or before January 5, 2007, or such later
                date,
                all in accordance with section “6.2” hereinabove;
                or

            

    

    

    
      	 	
              (g)

            	
              by
                agreement in writing by each of the Parties
                hereto;

            

    

    

    and
      in
      such event this Agreement will be terminated and be of no further force and
      effect other than the obligations under Article “8” hereinabove.

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        28

      

    

     

    Article
      13

    NOTICE

     

    13.1  Notice.
      Each
      notice, demand or other communication required or permitted to be given under
      this Agreement shall be in writing and shall be sent by prepaid registered
      mail
      deposited in a post office addressed to the Party entitled to receive the same,
      or delivered to such Party, at the address for such Party specified above.
      The
      date of receipt of such notice, demand or other communication shall be the
      date
      of delivery thereof if delivered, or, if given by registered mail as aforesaid,
      shall be deemed conclusively to be the third calendar day after the same shall
      have been so mailed, except in the case of interruption of postal services
      for
      any reason whatsoever, in which case the date of receipt shall be the date
      on
      which the notice, demand or other communication is actually received by the
      addressee.

     

    13.2  Change
      of Address.
      Either
      Party may at any time and from time to time notify the other Party in writing
      of
      a change of address and the new address to which notice shall be given to it
      thereafter until further change.

    

    

    Article
      14

    GENERAL
      PROVISIONS

     

    14.1  Entire
      Agreement.
      This
      Agreement constitutes the entire agreement to date between the Parties hereto
      and supersedes every previous agreement, communication, expectation,
      negotiation, representation or understanding, whether oral or written, express
      or implied, statutory or otherwise, between the Parties with respect to the
      subject matter of this Agreement and including, without limitation, the
      agreement as between the Purchaser, the Vendor and the Company.

     

    14.2  Enurement.
      This
      Agreement will enure to the benefit of and will be binding upon the Parties
      hereto, their respective heirs, executors, administrators and
      assigns.

     

    14.3  Schedules.
      The
      Schedules to this Agreement are hereby incorporated by reference into this
      Agreement in its entirety.

    
 

    14.4  Time
      of the Essence.
      Time
      will be of the essence of this Agreement.

     

    14.5  Representation
      and Costs.
      It is
      hereby acknowledged by each of the Parties hereto that, as between the Parties
      hereto, Devlin Jensen, Barristers and Solicitors, acts solely for the Purchaser,
      and that each of the Vendors and the Company have been advised by Devlin Jensen
      to obtain independent legal advice with respect to their respective reviews
      and
      execution of this Agreement. In addition, it is hereby further acknowledged
      and
      agreed by the Parties hereto that each Party to this Agreement will bear and
      pay
      its own costs, legal and otherwise, in connection with its respective
      preparation, review and execution of this Agreement, and, in particular, that
      the costs involved in the preparation of this Agreement, and all documentation
      necessarily involved thereto, by Devlin Jensen shall be at the cost of the
      Purchaser.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        29

      

    

    

    14.6  Applicable
      Law.
      The
      situs of this Agreement is Vancouver, British Columbia and for all purposes
      this
      Agreement will be governed exclusively by and construed and enforced in
      accordance with the laws and Courts prevailing in the Province of British
      Columbia.

     

    14.7  Further
      Assurances.
      The
      Parties hereto hereby, jointly and severally, covenant and agree to forthwith,
      upon request, execute and deliver, or cause to be executed and delivered, such
      further and other deeds, documents, assurances and instructions as may be
      required by the Parties hereto or their respective counsel in order to carry
      out
      the true nature and intent of this Agreement.

     

    14.8  Severability
      and Construction.
      Each
      Article, section, paragraph, term and provision of this Agreement, and any
      portion thereof, shall be considered severable, and if, for any reason, any
      portion of this Agreement is determined to be invalid, contrary to or in
      conflict with any applicable present or future law, rule or regulation in a
      final unappealable ruling issued by any court, agency or tribunal with valid
      jurisdiction in a proceeding to any of the Parties hereto is a party, that
      ruling shall not impair the operation of, or have any other effect upon, such
      other portions of this Agreement as may remain otherwise intelligible (all
      of
      which shall remain binding on the Parties and continue to be given full force
      and agreement as of the date upon which the ruling becomes final).

     

    14.9  Captions.
      The
      captions, section numbers, Article numbers and Schedule numbers appearing in
      this Agreement are inserted for convenience of reference only and shall in
      no
      way define, limit, construe or describe the scope or intent of this Agreement
      nor in any way affect this Agreement.

     

    14.10  Currency.
      Unless
      otherwise stipulated, all references to money amounts herein shall be in lawful
      money of the United States.

     

    14.11  Counterparts.
      This
      Agreement may be signed by the Parties hereto in as many counterparts as may
      be
      necessary, and via facsimile if necessary, each of which so signed being deemed
      to be an original and such counterparts together constituting one and the same
      instrument and, notwithstanding the date of execution, being deemed to bear
      the
      effective Execution Date as set forth on the front page of this
      Agreement.

     

    14.12  No
      Partnership or Agency.
      The
      Parties hereto have not created a partnership and nothing contained in this
      Agreement shall in any manner whatsoever constitute any Party the partner,
      agent
      or legal representative of any other Party, nor create any fiduciary
      relationship between them for any purpose whatsoever. No Party shall have any
      authority to act for, or to assume any obligations or responsibility on behalf
      of, any other party except as may be, from time to time, agreed upon in writing
      between the Parties or as otherwise expressly provided.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        30

      

    

     

    14.13  Consents
      and Waivers.
      No
      consent or waiver expressed or implied by either Party hereto in respect of
      any
      breach or default by any other Party in the performance by such other of its
      obligations hereunder shall:

    

    
      	 	
              (a)

            	
              be
                valid unless it is in writing and stated to be a consent or waiver
                pursuant to this section;

            

    

    

    
      	 	
              (b)

            	
              be
                relied upon as a consent to or waiver of any other breach or default
                of
                the same or any other obligation;

            

    

    

    
      	 	
              (c)

            	
              constitute
                a general waiver under this Agreement;
                or

            

    

    

    
      	 	
              (d)

            	
              eliminate
                or modify the need for a specific consent or waiver pursuant to this
                section in any other or subsequent
                instance.

            

    

    

    

    IN
      WITNESS WHEREOF
      each of
      the Parties hereto has hereunto executed this Agreement as of the Execution
      Date
      as set forth on the front page of this Agreement.

    

    

    

    
      	
              WANXIN
                BIO-TECHNOLOGY

            	
              )

            	 
	
              LIMITED,
                the Company herein,

            	
              )

            	 
	 	
              )

            	 
	 	
              )

            	 
	
              Per:
                /s/ Ip Chun Chung Robert

            	
              )

            	 
	
              Authorized
                Signatory

            	
              )

            	 
	 	 	 
	 	 	 
	
              CDOOR
                CORP.,
                the 

            	
              )

            	 
	
              Purchaser
                herein,

            	
              )

            	 
	 	
              )

            	 
	 	
              )

            	 
	
              Per:
                /s/ Ka Yu

            	
              )

            	 
	
              Authorized
                Signatory

            	
              )

            	 

    

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        31

      

    

     

    
      
        	
                WHEELOCK
                  TECHNOLOGY

              	
                )

              	 	 	 
	
                LIMITED,
                  a
                  Vendor herein,

              	
                )

              	 	 	 
	 	
                )

              	 	 	 
	 	
                )

              	 	 	 
	
                Per:
                  /s/ Ip Chun Chung Robert

              	
                )

              	 	 	 
	
                Authorized
                  Signatory

              	
                )

              	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	
                EVERTEAM
                  TECHNOLOGY

              	
                )

              	 	 	 
	
                LIMITED,
                  a Vendor herein,

              	
                )

              	 	 	 
	 	
                )

              	 	 	 
	 	
                )

              	 	 	 
	
                Per:
                  /s/ Tai Sin Fai

              	
                )

              	 	 	 
	
                Authorized
                  Signatory

              	
                )

              	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	
                HARA
                  INTELLIGENCE SYSTEMS

              	
                )

              	 	 	 
	
                CO.
                  LIMITED,
                  a
                  Vendor herein,

              	
                )

              	 	 	 
	 	
                )

              	 	 	 
	 	
                )

              	 	 	 
	
                Per:
                  /s/ Chan Chung-Ming

              	
                )

              	 	 	 
	
                Authorized
                  Signatory

              	
                )

              	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	
                SIGNED
                  and DELIVERED by

              	
                )

              	 	 	 
	
                SUTEE
                  KAITSAKULSAK,
                  a
                  Vendor 

              	
                )

              	 	 	 
	
                herein,
                  in the presence of:

              	
                )

              	 	 	 
	 	
                )

              	 	 	 
	 	
                )

              	 	 	 
	
                Witness
                  Signature

              	
                )

              	 	
                /s/
                  Sutee Kaitsakulsak

              	 
	 	
                )

              	 	
                SUTEE
                  KAITSAKULSAK

              	 
	 	
                )

              	 	 	 
	
                Witness
                  Address

              	
                )

              	 	 	 
	 	
                )

              	 	 	 
	 	
                )

              	 	 	 
	
                Witness
                  Name and Occupation

              	
                )

              	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	
                SIGNED
                  and DELIVERED by

              	
                )

              	 	 	 
	
                T.
                  DUSADEE,
                  a
                  Vendor 

              	
                )

              	 	 	 
	
                herein,
                  in the presence of:

              	
                )

              	 	 	 
	 	
                )

              	 	 	 
	 	
                )

              	 	 	 
	
                Witness
                  Signature

              	
                )

              	 	
                /s/
                  T. Dusadee

              	 
	 	
                )

              	 	
                T.
                  DUSADEE

              	 
	 	
                )

              	 	 	 
	
                Witness
                  Address

              	
                )

              	 	 	 
	 	
                )

              	 	 	 
	 	
                )

              	 	 	 
	
                Witness
                  Name and Occupation

              	
                )

              	 	 	 

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          32

        

      

       

      
        	
                SIGNED
                  and DELIVERED by

              	
                )

              	 	 	 
	
                AGNES
                  TONG WONG XUE,
                  a
                  Vendor 

              	
                )

              	 	 	 
	
                herein,
                  in the presence of:

              	
                )

              	 	 	 
	 	
                )

              	 	 	 
	 	
                )

              	 	 	 
	
                Witness
                  Signature

              	
                )

              	 	
                /s/
                  Agnes Tong Wong Xue

              	 
	 	
                )

              	 	
                AGNES
                  TONG WONG XUE

              	 
	 	
                )

              	 	 	 
	
                Witness
                  Address

              	
                )

              	 	 	 
	 	
                )

              	 	 	 
	 	
                )

              	 	 	 
	
                Witness
                  Name and Occupation

              	
                )

              	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	
                SIGNED
                  and DELIVERED by

              	
                )

              	 	 	 
	
                WANG
                  HUI,
                  a
                  Vendor 

              	
                )

              	 	 	 
	
                herein,
                  in the presence of:

              	
                )

              	 	 	 
	 	
                )

              	 	 	 
	 	
                )

              	 	 	 
	
                Witness
                  Signature

              	
                )

              	 	
                /s/
                  Wang Hui

              	 
	 	
                )

              	 	
                WANG
                  HUI

              	 
	 	
                )

              	 	 	 
	
                Witness
                  Address

              	
                )

              	 	
                 

              	 
	 	
                )

              	 	
                 

              	 
	 	
                )

              	 	
                 

              	 
	
                Witness
                  Name and Occupation

              	
                )

              	 	
                 

              	 
	 	 	 	
                 

              	 
	 	 	 	
                 

              	 
	
                SIGNED
                  and DELIVERED by

              	
                )

              	 	
                 

              	 
	
                YANG
                  BAN-JUN,
                  a
                  Vendor 

              	
                )

              	 	
                 

              	 
	
                herein,
                  in the presence of:

              	
                )

              	 	
                 

              	 
	 	
                )

              	 	
                 

              	 
	 	
                )

              	 	
                 

              	 
	
                Witness
                  Signature

              	
                )

              	 	
                /s/
                  Yang Ban-Jun

              	 
	 	
                )

              	 	
                YANG
                  BAN-JUN

              	 
	 	
                )

              	 	
                 

              	 
	
                Witness
                  Address

              	
                )

              	 	
                 

              	 
	 	
                )

              	 	
                 

              	 
	 	
                )

              	 	
                 

              	 
	
                Witness
                  Name and Occupation

              	
                )

              	 	 	 

      

    

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        33

      

    

     

    Schedule
      A

     

    This
      is
      Schedule “A” to that certain Share Purchase Agreement among CDoor Corp., Wanxin
      Bio-Technology Limited and the vendor shareholders of Wanxin Bio-Technology
      Limited.

    

    

    Purchased
      Securities and Vendors

    

    

      
        	 	 	 	 	 
	
                Authorized
                  Capital:

              	 	 	 	
                1,000,000
                  common shares

              
	 	 	 	 	 
	 	 	 	 	 
	
                Issued
                  Capital:

              	 	 	 	
                1,750
                  common shares

              
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	
                Vendors:

              	 	 	 	 
	 	 	
                Wheelock
                  Technology Limited:

              	 	
                250
                  common shares.

              
	 	 	
                Unit
                  A, 5th
                  Floor

              	 	 
	 	 	
                Wing
                  Sing Commercial Centre

              	 	 
	 	 	
                12
                  Wing Lok Street

              	 	 
	 	 	
                Sheung
                  Wan, Hong Kong

              	 	 
	 	 	 	 	 
	 	 	
                Everteam
                  Technology Limited:

              	 	
                100
                  common shares.

              
	 	 	
                P.O.
                  Box 957

              	 	 
	 	 	
                Offshore
                  Incorporations Centre

              	 	 
	 	 	
                Road
                  Town, British Virgin Islands

              	 	 
	 	 	 	 	 
	 	 	
                Hara
                  Intelligence Systems Co.

              	 	
                100
                  common shares.

              
	 	 	
                Limited:

              	 	 
	 	 	
                P.O.
                  Box 217

              	 	 
	 	 	
                Apia,
                  Samoa

              	 	 
	 	 	 	 	 
	 	 	
                Sutee
                  Kaitsakulsak:

              	 	
                200
                  common shares.

              
	 	 	
                328
                  Charoenkrung 65

              	 	 
	 	 	
                Charoenkrungrd

              	 	 
	 	 	
                Bangkok
                  10120

              	 	 
	 	 	 	 	 
	 	 	
                T.
                  Dusadee:

              	 	
                125
                  common shares.

              
	 	 	
                c/o
                  328 Charoenkrung 65

              	 	 
	 	 	
                Charoenkrungrd

              	 	 
	 	 	
                Bangkok
                  10120

              	 	 
	 	 	 	 	 
	 	 	
                Agnes
                  Tong Wong Xue:

              	 	
                150
                  common shares.

              
	 	 	
                ___________________

              	 	 
	 	 	
                ___________________

              	 	 

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          34

        

         

      

      
        	 	 	
                Wang
                  Hui:

              	 	
                75
                  common shares.

              
	 	 	
                2069
                  W.44th
                  Ave.

              	 	 
	 	 	
                Vancouver,
                  Canada

              	 	 
	 	 	
                V6M
                  2G1

              	 	 
	 	 	 	 	 
	 	 	
                Yang
                  Ban-Jun:

              	 	
                750
                  common shares.

              
	 	 	
                No.
                  99-A

              	 	 
	 	 	
                Jalan
                  Lunas Kulim

              	 	 
	 	 	
                Kedah,
                  Malaysia

              	 	 

      

    

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        35

      

    

     

    Schedule
      B

    

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        36

      

    

     

    Schedule
      C

    

    

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        37

      

    

     

    Schedule
      D

    

    

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        38

      

    

     

    Schedule
      E

    

    

    

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        39

      

    

     

    Schedule
      FDRAFT,
      12/20/06

     

    [Exhibit
      10.1]

    

    FORM
      OF

    UNITED
      STATES NATURAL GAS FUND, LP

    AUTHORIZED
      PURCHASER AGREEMENT

    

    This
      United States Natural Gas Fund, LP Authorized Purchaser Agreement (the
“Agreement”), dated as of ____________, is entered into by and between Victoria
      Bay Asset Management, LLC, a Delaware limited liability company and General
      Partner of United States Natural Gas Fund, LP (the “General Partner”), on behalf
      of itself and as General Partner of United States Natural Gas Fund, LP, and
      _________________, a [state]
      [type of business organization]
      (the
“Authorized Purchaser”).

    

    SUMMARY

    

    The
      General Partner serves in its capacity as General Partner of United States
      Natural Gas Fund, LP (the “Fund”) pursuant to the Limited Partnership Agreement
      dated as of the day the first Creation Basket is sold and the proceeds are
      invested (substantially in the form attached hereto) between the General Partner
      and the Limited Partners of the Fund (the “Partnership Agreement”). As provided
      in the Partnership Agreement and described in the Fund’s prospectus (the
“Prospectus”), units of fractional undivided beneficial interest in and
      ownership of the limited partnership (the “Units”) may be created or redeemed
      through the Marketing Agent by the Authorized Purchaser in aggregations of
      one
      hundred thousand (100,000) Units (each aggregation, a “Creation Basket” or
“Redemption Basket,” respectively; collectively, “Baskets”). Creation Baskets
      are offered only pursuant to the registration statement of the Fund on Form
      S-1,
      as amended (Registration No.: 333-137871), as declared effective by the
      Securities and Exchange Commission (the “SEC”) and as the same may be amended
      from time to time thereafter (collectively, the “Registration Statement”).
      Authorized Purchasers are the only persons that may place orders to create
      and
      redeem Creation
      Baskets or Redemption Baskets. 

    

    Capitalized
      terms used but not defined in this Agreement shall have the meanings assigned
      to
      such terms in the Prospectus. To the extent there is a conflict between any
      provision of this Agreement and the provisions of the Prospectus, the provisions
      of the Prospectus shall control. 

    

    To
      give
      effect to the foregoing premises and in consideration of the mutual covenants
      and agreements set forth below, the parties hereto agree as
      follows:

    

    Section
      1. Order Placement. 

    To
      place
      an order for the creation or redemption of one or more Baskets, an Authorized
      Purchaser must follow the procedures for creation and redemption referred to
      in
      Section 3 of this Agreement and attached to this Agreement as Exhibit A;
      provided, however, that in the case of an Authorized Purchaser’s initial order
      to purchase one or more Creation Baskets on the first day the Baskets are to
      be
      offered and sold, the procedures for creation will be as attached to this
      Agreement as Exhibit A-1.

     

    Section
      2. Status and Obligations of Authorized Purchaser. 

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    The
      Authorized Purchaser represents and warrants and covenants the following:

    

    (a) The
      Authorized Purchaser is a participant of the Depository Trust Company (“DTC”)
      (as such a participant, a “DTC Participant”). If the Authorized Purchaser ceases
      to be a DTC Participant, the Authorized Purchaser shall give immediate notice
      to
      the General Partner of such event, and this Agreement shall terminate
      immediately as of the date the Authorized Purchaser ceased to be a DTC
      Participant.

    

    (b) Unless
      Section 2(c) applies, the Authorized Purchaser either (i) is registered as
      a
      broker-dealer under the Securities Exchange Act of 1934, as amended (the
“Exchange Act”), and is a member in good standing of the National Association of
      Securities Dealers, Inc. (the “NASD”), or (ii) is exempt from being, or
      otherwise is not required to be, licensed as a broker-dealer or a member of
      the
      NASD, and in either case is qualified to act as a broker or dealer in the states
      or other jurisdictions where the nature of its business so requires. The
      Authorized Purchaser will maintain any such registrations, qualifications and
      membership in good standing and in full force and effect throughout the term
      of
      this Agreement. The Authorized Purchaser will comply with all applicable federal
      law, the laws of the states or other jurisdictions concerned, and the rules
      and
      regulations promulgated thereunder, including, but not limited to those
      applicable to securities and commodities transactions, and with the
      Constitution, By-Laws and Conduct Rules of the NASD (if it is a NASD member),
      and is solely responsible for determining the application of any such laws
      or
      regulations in all cases at its own expense. The Authorized Purchaser will
      not
      directly or indirectly offer, sell or deliver Units in or from any state or
      jurisdiction where they may not lawfully be offered, sold and/or
      delivered.

    

    (c) If
      the
      Authorized Purchaser is offering or selling Units in jurisdictions outside
      the
      several states, territories and possessions of the United States and is not
      otherwise required to be registered, qualified or a member of the NASD as set
      forth in Section 2(b) above, the Authorized Purchaser will (i) observe the
      applicable laws of the jurisdiction in which such offer and/or sale is made,
      (ii) comply with the full disclosure requirements of the Securities Act of
      1933,
      as amended (the “1933 Act”) and the Commodities Exchange Act (the “CEA”), and
      the rules and regulations promulgated thereunder, and (iii) conduct its business
      in accordance with the spirit of the NASD Conduct Rules. 

    

    (d) The
      Authorized Purchaser is in compliance with the money laundering and related
      provisions of the Uniting and Strengthening America by Providing Appropriate
      Tools Required to Intercept and Obstruct Terrorism Act of 2001 (the “PATRIOT
      Act”), and the regulations promulgated thereunder, if the Authorized Purchaser
      is subject to the requirements of the PATRIOT Act. 

    

    (e) The
      Authorized Purchaser has the capability to send and receive communications
      via
      an authenticated telecommunication facility to and from the General Partner,
      ALPS Distributors, Inc. (the “Marketing Agent”) and Brown Brothers Harriman
& Co., who shall act as both administrator (the “Administrator”) and
      custodian (the “Custodian”) for the Fund. The Authorized Purchaser shall confirm
      such capability to the satisfaction of the General Partner and the Marketing
      Agent by the end of the Business Day (as defined below) before placing its
      first
      order with the Marketing Agent (whether such order is to create or to redeem
      Baskets). If required by the Marketing Agent, the Administrator or the Custodian
      with respect to authorized telecommunications by telephonic facsimile, the
      Authorized Purchaser shall enter into a separate agreement with the Marketing
      Agent, the Administrator or the Custodian, as the case may be, indemnifying
      such
      party with respect to its communications by telephonic facsimile. 

     

    
      
        
          
            
            

          

          
            2

            
              

            

          

          
            
            

          

        

      

    

     

    (f) Because
      new Baskets can be created and Units therein issued on an ongoing basis, at
      any
      point during the life of the partnership, a “distribution,” as such term is used
      in the 1933 Act, may be occurring with respect to resales of these Units. The
      Authorized Purchaser is cautioned that some of its activities may result in
      its
      being deemed a participant in a distribution in a manner that would render
      it a
      statutory underwriter and subject it to the prospectus-delivery and liability
      provisions of the 1933 Act. The Authorized Purchaser should review the “What is
      the Plan of Distribution?” portion of the Prospectus and consult with its own
      counsel in connection with entering into this Agreement and placing an Order
      (as
      defined below). In addition to satisfying the prospectus-delivery and disclosure
      requirements of the 1933 Act, the Authorized Purchaser and any other participant
      in the distribution of the Units purchased by the Authorized Purchaser also
      has
      the obligation to comply with the disclosure delivery requirements under the
      CEA, including, with respect to the CEA, the requirement that it provide an
      acknowledgement of receipt of the Prospectus (the “CEA Acknowledgement”) as set
      forth in Section 11, to the Fund, directly or through its agent, the Marketing
      Agent, prior to payment of the purchase price for any Creation Basket to the
      Fund. To the extent the Authorized Purchaser has distributed a Preliminary
      Prospectus to prospective investors, if there are material changes made to
      that
      document as compared to the final Prospectus, the Authorized Purchaser shall
      give notice to any prospective investor who received the Preliminary Prospectus
      of such material change prior to a sale.

    

    Section
      3. Orders. 

     

    (a) All
      orders to create or redeem Baskets shall be made in accordance with the terms
      of
      the Prospectus, this Agreement and the creation and redemption procedures
      attached hereto as Exhibit A (the “Procedures”), except in the case of an
      Authorized Purchaser’s initial order to purchase one or more Creation Baskets on
      the first day the Baskets are to be offered and sold which will be governed
      by
      the procedures set forth in Exhibit A-1. Each party will comply with such
      foregoing terms to the extent applicable to it. The General Partner may issue
      additional or other procedures from time to time relating to the manner of
      creating or redeeming Baskets and the Authorized Purchaser will comply with
      such
      procedures. The Authorized Purchaser hereby consents to the use of recorded
      telephone lines. 

    

    (b) The
      Authorized Purchaser acknowledges and agrees it is acting solely as principal
      and not on behalf of any party for which it is acting (whether such party is
      a
      customer or otherwise), and that each order to create a Basket (a “Purchase
      Order”) and each order to redeem a Basket (a “Redemption Order”, and each
      Purchase Order and Redemption Order, an “Order”) may not be withdrawn by the
      Authorized Purchaser. A form of Purchase/Redemption Order is attached hereto
      as
      Exhibit B.

    

    (c) The
      General Partner acting by itself or through the Marketing Agent shall have
      the
      absolute right, but shall have no obligation, to reject any Purchase Order
      or
      Creation Basket Deposit (as defined in Section 6) (i) determined by the General
      Partner not to be in proper form; (ii) that the General Partner has determined
      would have adverse tax consequences to the Fund; (iii) the acceptance or receipt
      of which would, in the opinion of counsel to the General Partner, be unlawful;
      or (iv) if circumstances outside the control of the General Partner, the
      Marketing Agent or the Custodian make it for all practical purposes not feasible
      to process creations of Creation Baskets. None of the General Partner, the
      Marketing Agent or the Custodian shall be liable to any person by reason of
      the
      rejection of any Purchase Order or Creation Basket Deposit (as defined in
      Section 6).

     

    
      
        
          
            
            

          

          
            3

            
              

            

          

          
            
            

          

        

      

    

     

    (d) The
      General Partner acting by itself or through the Marketing Agent may, in its
      sole
      discretion, reject any Redemption Order (i) determined by the General Partner
      not to be in proper form or (ii) the fulfillment of which its counsel advises
      may be illegal under applicable laws and regulations, and neither the General
      Partner nor the Marketing Agent shall have liability to any person for rejecting
      a Redemption Order in such circumstances. 

    

    Section
      4. Fees. 

     

    In
      connection with each Order by an Authorized Purchaser to create or redeem one
      or
      more Baskets, the General Partner shall charge, and the Authorized Purchaser
      shall pay to the General Partner, the Transaction Fee prescribed in the
      Prospectus applicable to such creation or redemption. The initial Transaction
      Fee shall be one thousand dollars ($1,000). The Transaction Fee may be adjusted
      from time to time as set forth in the Prospectus. 

    

    Section
      5. Authorized Persons. 

     

    Concurrently
      with the execution of this Agreement and from time to time thereafter, the
      Authorized Purchaser shall deliver to the General Partner and the Marketing
      Agent, notarized and duly certified as appropriate by its secretary or other
      duly authorized official, a certificate in the form of Exhibit C setting forth
      the names and signatures of all persons authorized to give instructions relating
      to activity contemplated hereby or by any other notice, request or instruction
      given on behalf of the Authorized Purchaser (each, an “Authorized Person”). The
      General Partner or the Marketing Agent may accept and rely upon such certificate
      as conclusive evidence of the facts set forth therein and shall consider such
      certificate to be in full force and effect until the General Partner receives
      a
      superseding certificate bearing a subsequent date. Upon the termination or
      revocation of authority of any Authorized Person by the Authorized Purchaser,
      the Authorized Purchaser shall give immediate written notice of such fact to
      the
      General Partner and the Marketing Agent, and such notice shall be effective
      upon
      receipt by the General Partner. 

    

    Section
      6. Creation Procedures.

     

    On
      any
      Business Day, an Authorized Purchaser may place an order with the Marketing
      Agent to create one or more Creation Baskets in accordance with this Section
      6
      and the Procedures. For purposes of processing purchase and redemption orders,
      a
“Business Day” means any day other than a day when any of the American Stock
      Exchange, the New York Mercantile Exchange or the New York Stock Exchange is
      closed for regular trading. Purchase orders must be placed by 12:00 PM New
      York
      time or the close of regular trading on the American Stock Exchange, whichever
      is earlier, except in the case of an Authorized Purchaser’s initial order to
      purchase one or more Creation Baskets on the first day the Baskets are to be
      offered and sold, when such orders shall be placed by 9:00 AM New
      York
      Time on the day agreed to by the General Partner and the Authorized Purchaser.
      The day on which the Marketing Agent receives a valid purchase order is the
      purchase order date. By placing a purchase order, an Authorized Purchaser agrees
      to deposit Treasuries, cash, or a combination of Treasuries and cash with the
      Custodian of the Fund. Prior to the delivery of Baskets for a purchase order,
      the Authorized Purchaser must also have wired to the Custodian the
      non-refundable transaction fee due for the purchase order. “Treasuries” shall be
      any U.S. treasury security with two years or less remaining to maturity with
      an
      aggregate market value, as determined in the sole discretion of the
      Administrator using the valuation procedures set forth in Exhibit D, that
      together with any cash amount, will equal the purchase price of the Creation
      Basket being purchased.

     

    
      
        
          
            
            

          

          
            4

            
              

            

          

          
            
            

          

        

      

    

     

    The
      total
      deposit required to create each basket (“Creation Basket Deposit”) will be an
      amount of Treasuries and cash that is in the same proportion to the total assets
      of the Fund (net of estimated accrued but unpaid fees, expenses and other
      liabilities) on the date the order to purchase is properly received as the
      number of units to be created under the purchase order is in proportion to
      the
      total number of units outstanding on the date the order is received. The General
      Partner determines, directly in its sole discretion or in consultation with
      the
      Administrator, the requirements for Treasuries and the amount of cash, including
      the maximum permitted remaining maturity of a Treasury and proportions of
      Treasuries and cash that may be included in deposits to create baskets. The
      Marketing Agent will publish such requirements at the beginning of each business
      day. The amount of cash deposit required will be the difference between the
      aggregate market value of the Treasuries required to be included in a Creation
      Basket Deposit as of 4:00 p.m. New York time on the date the order to purchase
      is properly received and the total required deposit.

    

    The
      General Partner determines, directly in its sole discretion, or in consultation
      with the Administrator, the requirements for Treasuries and/or the amount of
      cash, including the maximum permitted remaining maturity of a Treasury and
      the
      proportions of Treasury and cash, that may be included in deposits to create
      Baskets. The Marketing Agent will publish such requirements at the beginning
      of
      each Business Day. Unless otherwise determined by the General Partner, if
      Treasuries and cash are to be deposited, the amount of the cash deposit required
      will be the difference between (i) the aggregate market value of the Treasuries
      required to be included in a Creation Basket Deposit as of 4:00 PM New York
      time
      on the purchase order date and (ii) the total required deposit.

    

    An
      Authorized Purchaser who places a purchase order is responsible for transferring
      to the Fund’s account with the Custodian the required amount of Treasuries
      and/or cash by the end of the third Business Day following the purchase order
      date, except in the case of an Authorized Purchaser’s initial order to purchase
      one or more Creation Baskets on the first day the Baskets are to be offered
      and
      sold when the Creation Basket Deposit will be due by 12:00 PM New York time
      on
      the date the purchase order was accepted by the Marketing Agent. Upon receipt
      of
      the deposit amount, the Administrator will direct DTC to credit the number
      of
      Baskets ordered to the Authorized Purchaser’s DTC account on the third Business
      Day following the purchase order date, except in the case of an Authorized
      Purchaser’s initial order to purchase one or more Creation Baskets, when the
      Administrator will direct DTC to credit the number of Baskets so ordered upon
      confirmation by the Custodian that the Creation Basket Deposit has been received
      by the Custodian. The expense and risk of delivery and ownership of Treasuries
      until such Treasuries have been received by the Custodian on behalf of the
      Fund
      shall be borne solely by the Authorized Purchaser.

     

    
      Section
        7. Redemption Procedures. 

    

     

    
      
        
          
            
            

          

          
            5

            
              

            

          

          
            
            

          

        

      

    

     

    On
      any
      Business Day, an Authorized Purchaser may place an order with the Marketing
      Agent to redeem one or more Redemption Baskets in accordance with this Section
      7
      and the Procedures. Redemption orders must be placed by 12:00 PM New York time
      or the close of regular trading on the American Stock Exchange, whichever is
      earlier. A redemption order so received is effective on the date it is received
      in satisfactory form by the Marketing Agent. The day on which the Marketing
      Agent receives a valid redemption order is the redemption order date. By placing
      a redemption order, an Authorized Purchaser agrees to deliver the Redemption
      Basket to be redeemed through DTC’s book-entry system to the Fund’s account with
      the Custodian not later than 3:00 PM New York time on the third Business Day
      following the effective date of the redemption order. Prior to the delivery
      of
      the redemption distribution for a redemption order, the Authorized Purchaser
      must also have wired to the Fund’s account at the Custodian the non-refundable
      Transaction Fee due for the redemption order.

    

    The
      redemption distribution from the Fund consists of a transfer to the redeeming
      Authorized Purchaser of an amount of Treasuries and/or cash with a value that
      is
      in the same proportion to the total assets of the Fund (net of estimated accrued
      but unpaid fees, expenses and other liabilities) on the date the order to redeem
      is properly received as the number of Units to be redeemed under the redemption
      order is in proportion to the total number of Units outstanding on the date
      the
      order is received. The General Partner, directly or in consultation with the
      Administrator, will determine the requirements for Treasuries and/or the amount
      of cash, including the maximum permitted remaining maturity of a Treasury,
      and
      the proportions of Treasuries and cash, that may be included in distributions
      to
      redeem Baskets. The Marketing Agent will publish such requirements as of 4:00
      PM
      New York time on the redemption order date.

    

    The
      redemption distribution due from the Fund is delivered to the Authorized
      Purchaser on the third Business Day following the redemption order date if,
      by
      3:00 PM New York time on such third Business Day, the Fund’s DTC account has
      been credited with the Baskets to be redeemed. If the Fund’s DTC account has not
      been credited with all of the Baskets to be redeemed by such time, the
      redemption distribution is delivered to the extent of whole Baskets received.
      Any remainder of the redemption distribution is delivered on the next Business
      Day to the extent of remaining whole Baskets received if the Fund receives
      the
      fee applicable to the extension of the redemption distribution date which the
      General Partner may, from time to time, determine and the remaining Baskets
      to
      be redeemed are credited to the Fund’s DTC account by 9:00 AM New York time on
      such next Business Day. Any further outstanding amount of the redemption order
      shall be cancelled. Pursuant to instruction from the General Partner, the
      Custodian may also deliver the redemption distribution notwithstanding that
      the
      Baskets to be redeemed are not credited to the Fund’s DTC account by 3:00 PM New
      York time on the third Business Day following the redemption order date if
      the
      Authorized Purchaser has collateralized its obligation to deliver the Baskets
      through DTC’s book entry system on such terms as the General Partner may from
      time to time determine.

    

    The
      General Partner may, in its discretion, suspend the right of redemption, or
      postpone the redemption settlement date, (1) for any period during which the
      American Stock Exchange or the New York Mercantile Exchange is closed other
      than
      customary weekend or holiday closings, or trading on the American Stock Exchange
      or the New York Mercantile Exchange is suspended or restricted, (2) for any
      period during which an emergency exists as a result of which delivery, disposal
      or evaluation of Treasuries or other assets of the Fund is not reasonably
      practicable, or (3) for such other period as the General Partner determines
      to be necessary for the protection of the limited partners. None of the General
      Partner, the Marketing Agent, the Administrator or the Custodian will be liable
      to any person or in any way for any loss or damages that may result from any
      such suspension or postponement.

     

    
      
        
          
            
            

          

          
            6

            
              

            

          

          
            
            

          

        

      

    

     

    Section
      8. Role of Authorized Purchaser. 

     

    (a) The
      Authorized Purchaser acknowledges that, for all purposes of this Agreement,
      the
      Authorized Purchaser is and shall be deemed to be an independent contractor
      and
      has and shall have no authority to act as agent for the Fund, the Marketing
      Agent, the Administrator, the Custodian or the General Partner in any matter
      or
      in any respect, except as set forth in Section 2(f). 

    

    (b) The
      Authorized Purchaser will make itself and its employees available, upon request,
      during normal business hours to consult with the General Partner and the
      Marketing Agent concerning the performance of the Authorized Purchaser’s
      responsibilities under this Agreement. 

    

    (c) The
      Authorized Purchaser will maintain records of all sales of Creation Baskets
      made
      by or through it and will furnish copies of such records to the General Partner
      upon the reasonable request of the General Partner. 

    

    Section
      9. Indemnification. 

     

    (a) Indemnification
      of Authorized Purchaser. The General Partner agrees to indemnify, defend and
      hold harmless the Authorized Purchaser, its partners, stockholders, members,
      directors, officers and employees and any Affiliate of the foregoing, and the
      successors and assigns of all of the foregoing persons, from and against any
      loss, damage, expense, liability or claim (including the reasonable cost of
      investigation) which the Authorized Purchaser or any such person may incur
      under
      the 1933 Act, the Exchange Act, the CEA, the common law or otherwise, insofar
      as
      such loss, damage, expense, liability or claim arises out of or is based
      upon:

    

    (1) any
      untrue statement or alleged untrue statement of a material fact contained in
      the
      Registration Statement (or in the Registration Statement as amended or
      supplement) or in a Prospectus (the term Prospectus for the purpose of this
      Section 6 being deemed to include the Prospectus and the Prospectus as amended
      or supplemented), or arises out of or is based upon any omission or alleged
      omission to state a material fact required to be stated in either such
      Registration Statement or such Prospectus or necessary to make the statements
      made therein not misleading, except insofar as any such loss, damage, expense,
      liability or claim arises out of or is based upon any untrue statement or
      alleged untrue statement of a material fact contained in and in conformity
      with
      information concerning the Authorized Purchaser furnished in writing by or
      on
      behalf of the Authorized Purchaser to the General Partner expressly for use
      in
      such Registration Statement;

    

    (2) any
      untrue statement or alleged untrue statement of a material fact or breach by
      the
      General Partner of any representation or warranty contained in this
      Agreement;

     

    
      
        
          
            
            

          

          
            7

            
              

            

          

          
            
            

          

        

      

    

     

    (3) the
      failure by the General Partner to perform when and as required, any agreement
      or
      covenant contained herein;

    

    (4) the
      Authorized Purchaser’s performance of its duties under this Agreement except in
      the case of this clause (4), for any loss, damage, expense, liability or claim
      resulting from the gross negligence or willful misconduct of the Authorized
      Purchaser.

    

    In
      no
      case is the indemnity of the General Partner in favor of the Authorized
      Purchaser and such other persons as are specified in this Section 9(a) to be
      deemed to protect the Authorized Purchaser and such persons against any
      liability to the General Partner or the Fund to which the Authorized Purchaser
      would otherwise be subject by reason of willful misfeasance, bad faith or gross
      negligence in the performance of its duties or by reason of its reckless
      disregard of its obligations and duties under this Agreement.

    

    If
      any
      action, suit or proceeding (each, a “Proceeding”) is brought against the
      Authorized Purchaser or any such person in respect of which indemnity may be
      sought against the General Partner pursuant to the foregoing paragraph, the
      Authorized Purchaser or such person shall promptly notify the General Partner
      in
      writing of the institution of such Proceeding and the General Partner shall
      assume the defense of such Proceeding, including the employment of counsel
      reasonably satisfactory to such indemnified party and payment of all fees and
      expenses; provided, however, that the omission to so notify the General Partner
      shall not relieve the General Partner from any liability which it may have
      to
      the Authorized Purchaser or any such person except to the extent that it has
      been materially prejudiced by such failure and has not otherwise learned of
      such
      Proceeding. The Authorized Purchaser or such person shall have the right to
      employ its own counsel in any such case, but the fees and expenses of such
      counsel shall be at the expense of the Authorized Purchaser or of such person
      unless the employment of such counsel shall have been authorized in writing
      by
      the General Partner in connection with the defense of such Proceeding or the
      General Partner shall not have, within a reasonable period of time in light
      of
      the circumstances, employed counsel to have charge of the defense of such
      Proceeding or such indemnified party or parties shall have reasonably concluded
      that there may be defenses available to it or them which are different from,
      additional to or in conflict with those available to the General Partner (in
      which case the General Partner shall not have the right to direct the defense
      of
      such Proceeding on behalf of the indemnified party or parties), in any of which
      events such fees and expenses shall be borne by the General Partner and paid
      as
      incurred (it being understood, however, that the General Partner shall not
      be
      liable for the expenses of more than one separate counsel (in addition to any
      local counsel) in any one Proceeding or series of related Proceedings in the
      same jurisdiction representing the indemnified parties who are parties to such
      Proceeding). 

    

    The
      General Partner shall not be liable for any settlement of any Proceeding
      effected without the General Partner’s written consent but if settled with the
      General Partner’s written consent, the General Partner agrees to indemnify and
      hold harmless the Authorized Purchaser and any such person from and against
      any
      loss or liability by reason of such settlement. Notwithstanding the foregoing
      sentence, if at any time an indemnified party shall have requested an
      indemnifying party to reimburse the indemnified party for fees and expenses
      of
      counsel as contemplated by the second sentence of this paragraph, then the
      indemnifying party agrees that it shall be liable for any settlement of any
      Proceeding effected without its written consent if (i) such settlement is
      entered into more than 60 Business Days after receipt by such indemnifying
      party
      of the aforesaid request, (ii) such indemnifying party shall not have fully
      reimbursed the indemnified party in accordance with such request prior to the
      date of such settlement and (iii) such indemnified party shall have given the
      indemnifying party at least 30 Business Days’ prior notice of its intention to
      settle. No indemnifying party shall, without the prior written consent of the
      indemnified party, effect any settlement of any pending or threatened Proceeding
      in respect of which any indemnified party is or could have been a party and
      indemnity could have been sought hereunder by such indemnified party, unless
      such settlement includes an unconditional release of such indemnified party
      from
      all liability on claims that are the subject matter of such Proceeding and
      does
      not include an admission of fault, culpability or a failure to act, by or on
      behalf of such indemnified party.

     

    
      
        
          
            
            

          

          
            8

            
              

            

          

          
            
            

          

        

      

    

     

    (b) The
      Authorized Purchaser agrees to indemnify, defend and hold harmless each of
      the
      Fund, the General Partner and its partners, stockholders, members, directors,
      officers, employees and any person who controls the General Partner within
      the
      meaning of Section 15 of the 1933 Act or Section 20 of the Exchange Act, and
      the
      successors and assigns of all of the foregoing persons, from and against any
      loss, damage, expense, liability or claim (including the reasonable cost of
      investigation) which the General Partner any such person may incur under the
      1933 Act, the Exchange Act, the CEA, the common law or otherwise, insofar as
      such loss, damage, expense, liability or claim arises out of or is based upon
      any untrue statement or alleged untrue statement of a material fact contained
      in
      and in conformity with information furnished in writing by or on behalf of
      the
      Authorized Purchaser to the General Partner expressly for use in the
      Registration Statement (or in the Registration Statement as amended or
      supplemented by any post-effective amendment thereof) or in a Prospectus, or
      arises out of or is based upon any omission or alleged omission to state a
      material fact in connection with such information required to be stated in
      such
      Registration Statement or such Prospectus or necessary to make such information
      not misleading.

    

    The
      Authorized Purchaser will also indemnify the General Partner as stated above
      insofar as such loss, damage, expense, liability or claim arises out of or
      is
      based upon the Authorized Purchaser’s performance of its duties under this
      Agreement, except in the case of any loss, damage, expense, liability or claim
      resulting from the gross negligence or willful misconduct of the General
      Partner. In no case is the indemnity of the Authorized Purchaser in favor of
      the
      General Partner to be deemed to protect the General Partner and such persons
      against any liability to the Authorized Purchaser to which the General Partner
      would otherwise be subject by reason of willful misfeasance, bad faith or gross
      negligence in the performance of its duties or by reason of its reckless
      disregard of its obligations and duties under this Agreement.

    

    If
      any
      Proceeding is brought against the General Partner or any person referred to
      in
      the preceding paragraph in respect of which indemnity may be sought against
      the
      Authorized Purchaser pursuant to the foregoing paragraph, the General Partner
      or
      such person shall promptly notify the Authorized Purchaser in writing of the
      institution of such Proceeding and the Authorized Purchaser shall assume the
      defense of such Proceeding, including the employment of counsel reasonably
      satisfactory to such indemnified party and payment of all fees and expenses;
      provided, however, that the omission to so notify the Authorized Purchaser
      shall
      not relieve the Authorized Purchaser from any liability which it may have to
      the
      General Partner or any such person except to the extent that it has been
      materially prejudiced by such failure and has not otherwise learned of such
      Proceeding. The General Partner or such person shall have the right to employ
      its own counsel in any such case, but the fees and expenses of such counsel
      shall be at the expense of the General Partner or such person unless the
      employment of such counsel shall have been authorized in writing by the
      Authorized Purchaser in connection with the defense of such Proceeding or the
      Authorized Purchaser shall not have, within a reasonable period of time in
      light
      of the circumstances, employed counsel to defend such Proceeding or such
      indemnified party or parties shall have reasonably concluded that there may
      be
      defenses available to it or them which are different from or additional to
      or in
      conflict with those available to the Authorized Purchaser (in which case the
      Authorized Purchaser shall not have the right to direct the defense of such
      Proceeding on behalf of the indemnified party or parties, but the Authorized
      Purchaser may employ counsel and participate in the defense thereof but the
      fees
      and expenses of such counsel shall be at the expense of the Authorized
      Purchaser), in any of which events such fees and expenses shall be borne by
      the
      Authorized Purchaser and paid as incurred (it being understood, however, that
      the Authorized Purchaser shall not be liable for the expenses of more than
      one
      separate counsel (in addition to any local counsel) in any one Proceeding or
      series of related Proceedings in the same jurisdiction representing the
      indemnified parties who are parties to such Proceeding). 

     

    
      
        
          
            
            

          

          
            9

            
              

            

          

          
            
            

          

        

      

    

     

    The
      Authorized Purchaser shall not be liable for any settlement of any such
      Proceeding effected without the written consent of the Authorized Purchaser
      but
      if settled with the written consent of the Authorized Purchaser, the Authorized
      Purchaser agrees to indemnify and hold harmless the General Partner and any
      such
      person from and against any loss or liability by reason of such settlement.
      Notwithstanding the foregoing sentence, if at any time an indemnified party
      shall have requested an indemnifying party to reimburse the indemnified party
      for fees and expenses of counsel as contemplated by the second sentence of
      the
      preceding paragraph, then the indemnifying party agrees that it shall be liable
      for any settlement of any Proceeding effected without its written consent if
      (i)
      such settlement is entered into more than 60 Business Days after receipt by
      such
      indemnifying party of the aforesaid request, (ii) such indemnifying party shall
      not have reimbursed the indemnified party in accordance with such request prior
      to the date of such settlement and (iii) such indemnified party shall have
      given
      the indemnifying party at least 30 Business Days’ prior notice of its intention
      to settle. No indemnifying party shall, without the prior written consent of
      the
      indemnified party, effect any settlement of any pending or threatened Proceeding
      in respect of which any indemnified party is or could have been a party and
      indemnity could have been sought hereunder by such indemnified party, unless
      such settlement includes an unconditional release of such indemnified party
      from
      all liability on claims that are the subject matter of such
      Proceeding.

    

    (c) The
      indemnity agreements contained in this Section 9 and the covenants, warranties
      and representations of the General Partner contained in this Agreement shall
      remain in full force and effect regardless of any investigation made by or
      on
      behalf of the Authorized Purchaser, its partners, stockholders, members,
      directors, officers, employees and or any person (including each partner,
      stockholder, member, director, officer or employee of such person) who controls
      the Authorized Purchaser within the meaning of Section 15 of the 1933 Act or
      Section 20 of the Exchange Act, or by or on behalf of each of the General
      Partner, the Fund, their partners, stockholders, members, directors, officers,
      employees or any person who controls the General Partner or the Fund within
      the
      meaning of Section 15 of the 1933 Act or Section 20 of the Exchange Act, and
      shall survive any termination of this Agreement or the initial issuance and
      delivery of the Units. The General Partner and the Authorized Purchaser agree
      promptly to notify each other of the commencement of any Proceeding against
      it
      and, in the case of the General Partner, against any of the General Partner’s
      officers or directors in connection with the issuance and sale of the Units,
      or
      in connection with the Registration Statement or the Prospectus.

     

    
      
        
          
            
            

          

          
            10

            
              

            

          

          
            
            

          

        

      

    

     

    Section
      10.

     

    (a) Limitation
      of Liability. 

     

    None
      of
      the General Partner, the Authorized Purchaser, the Marketing Agent, the
      Administrator, or the Custodian, shall be liable to each other or to any other
      person, including any party claiming by, through or on behalf of the Authorized
      Purchaser, for any losses, liabilities, damages, costs or expenses arising
      out
      of any mistake or error in data or other information provided to any of them
      by
      each other or any other person or out of any interruption or delay in the
      electronic means of communications used by them.

    

    (b) Tax
      Liability. 

     

    The
      Authorized Purchaser shall be responsible for the payment of any transfer tax,
      sales or use tax, stamp tax, recording tax, value added tax and any other
      similar tax or government charge applicable to the creation or redemption of
      any
      Basket made pursuant to this Agreement, regardless of whether or not such tax
      or
      charge is imposed directly on the Authorized Purchaser. To the extent the
      General Partner or the Fund is required by law to pay any such tax or charge,
      the Authorized Purchaser agrees to promptly indemnify such party for any such
      payment, together with any applicable penalties, additions to tax or interest
      thereon.

    

    Section
      11. Acknowledgment. 

     

    The
      Authorized Purchaser acknowledges receipt of a copy of the Prospectus and
      represents that it has reviewed and understands such document. 

    

    Section
      12. Effectiveness and Termination.

     

    Upon
      the
      execution of this Agreement by the parties hereto, this Agreement shall become
      effective in this form as of the date first set forth above, and may be
      terminated at any time by any party upon thirty (30) days’ prior written notice
      to the other parties unless earlier terminated: (i) in accordance with Section
      2(a); (ii) upon notice to the Authorized Purchaser by the General Partner in
      the
      event of a breach by the Authorized Purchaser of this Agreement or the
      procedures described or incorporated herein; or (iii) at such time as the Fund
      is terminated. 

    

    Section
      13. Marketing Materials; Representations Regarding Baskets; Identification
      in
      Registration Statement. 

     

    (a) The
      Authorized Purchaser represents, warrants and covenants that (i), without the
      written consent of the General Partner, the Authorized Purchaser will not make,
      or permit any of its representatives to make, any representations concerning
      the
      Units or the General Partner, the Fund or any person indemnified by the
      Authorized Purchaser (the “AP Indemnified Person”) other than representations
      contained (A) in the then-current Prospectus of the Fund, (B) in printed
      information approved by the General Partner as information supplemental to
      such
      Prospectus or (C) in any promotional materials or sales literature
      furnished to the Authorized Purchaser by the General Partner, and (ii) the
      Authorized Purchaser will not furnish or cause to be furnished to any person
      or
      display or publish any information or material relating to the Baskets, any
      AP
      Indemnified Person or the Fund that is not consistent with the Fund’s then
      current Prospectus. Copies of the then-current Prospectus of the Fund and any
      such printed supplemental information will be supplied by the General Partner
      to
      the Authorized Purchaser in reasonable quantities upon request. 

     

    
      
        
        

      

      
        11

        
          

        

      

      
        
        

      

    

     

    (b) The
      Authorized Purchaser agrees to comply with the prospectus and disclosure
      delivery requirements of the federal securities and commodities laws. In
      connection therewith, the Authorized Purchaser will provide each prospective
      purchaser with a copy of the Fund’s Prospectus and, to the extent required under
      the CEA or regulations promulgated thereunder, obtain (or require any
      participant in the distribution of Units in a Creation Basket the Authorized
      Purchaser has purchased to obtain) the CEA Acknowledgment from any such
      purchaser prior to receipt of payment from the purchaser. The Authorized
      Purchaser shall (or shall require any participant in distribution of such Units
      in a Creation Basket the Authorized Purchaser has purchased) maintain each
      such
      CEA Acknowledgement until the termination of this Agreement, and provide a
      copy
      to the General Partner upon reasonable request.

    

    (c) The
      Authorized Purchaser hereby agrees that for the term of this Agreement the
      General Partner or its agent, the Marketing Agent, may deliver the then-current
      Prospectus, and any supplements or amendments thereto or recirculation thereof,
      to the Authorized Purchaser in Portable Document Format (“PDF”) via electronic
      mail or facsimile in lieu of delivering the Prospectus in paper form. The
      Authorized Purchaser may revoke the foregoing agreement at any time by
      delivering written notice to the General Partner and, whether or not such
      agreement is in effect, the Authorized Purchaser may, at any time, request
      reasonable quantities of the Prospectus, and any supplements or amendments
      thereto or recirculation thereof, in paper form from the General Partner or
      its
      agent, the Marketing Agent. The Authorized Purchaser acknowledges that it has
      the capability to access, view, save and print material provided to it in PDF
      and that it will incur no appreciable extra costs by receiving the Prospectus
      in
      PDF instead of in paper form. The General Partner will, when requested by the
      Authorized Purchaser, make available at no cost the software and technical
      assistance necessary to allow the Authorized Purchaser to access, view and
      print
      the PDF version of the Prospectus.

    

    (d) For
      as
      long as this Agreement is effective, the Authorized Purchaser agrees to be
      identified as an authorized purchaser of the Fund (i) in the section of the
      Prospectus included within the Registration Statement entitled “Creation and
      Redemption of Units” and in any other section as may be required by the SEC and
      (ii) on the Fund’s website. Upon the termination of this Agreement,
      (i) during the period prior to when the General Partner qualifies and
      elects to file on Form S-3, the General Partner will remove such identification
      from the Prospectus in the amendment of the Registration Statement next
      occurring after the date of the termination of this Agreement and, during the
      period after when the General Partner qualifies and elects to file on Form
      S-3,
      the General Partner will promptly file a current report on Form 8-K indicating
      the withdrawal of the Authorized Purchaser as an authorized purchaser of the
      Fund and (ii) the General Partner will promptly update the Fund’s website to
      remove any identification of the Authorized Purchaser as an authorized purchaser
      of the Fund. 

     

    
      
        
          
            
            

          

          
            12

            
              

            

          

          
            
            

          

        

      

    

     

    Section
      14. Certain Covenants of the General Partner.
      

     

    The
      General Partner, on its own behalf and on behalf of the Fund, covenants and
      agrees: 

    

    (a) to
      advise
      the Authorized Purchaser promptly of the happening of any event during the
      term
      of this Agreement which could require the making of any change in the Prospectus
      then being used so that the Prospectus would not include an untrue statement
      of
      material fact or omit to state a material fact necessary to make the statements
      therein, in the light of the circumstances under which they are made, not
      misleading, and, during such time, to prepare and furnish, at the expense of
      the
      Fund, to the Authorized Purchaser promptly such amendments or supplements to
      such Prospectus as may be necessary to reflect any such change; 

    

    (b) to
      cause
      Spicer Jeffries LLP, accountants to the Fund, to deliver, at each time (i)
      the
      Registration Statement or the Prospectus is amended or supplemented by the
      filing of a post-effective amendment, (ii) a new Registration Statement is
      filed
      to register additional Baskets in reliance on Rule 429, and (iii) there is
      financial information incorporated by reference into the Registration Statement
      or the Prospectus, letters dated such dates and addressed to the Authorized
      Purchaser, containing statements and information of the type ordinarily included
      in accountants’ letters to underwriters with respect to the financial statements
      and other financial information contained in or incorporated by reference into
      the Registration Statement and the Prospectus; 

    

    (c) to
      deliver to the Authorized Purchaser, at each time (i) the Registration Statement
      or the Prospectus is amended or supplemented by the filing of a post-effective
      amendment, (ii) a new Registration Statement is filed to register additional
      Baskets in reliance on Rule 429, and (iii) there is financial information
      incorporated by reference into the Registration Statement or the Prospectus,
      a
      certification by a duly authorized officer of the General Partner in the form
      attached hereto as Exhibit E. In addition, any certificate signed by any officer
      of the General Partner and delivered to the Authorized Purchaser or counsel
      for
      the Authorized Purchaser pursuant hereto shall be deemed to be a representation
      and warranty by the General Partner as to matters covered thereby to the
      Authorized Purchaser; 

    

    (d) to
      furnish directly or through the Marketing Agent to the Authorized Purchaser,
      at
      each time (i) the Registration Statement or the Prospectus is amended or
      supplemented by the filing of a post-effective amendment, (ii) a new
      Registration Statement is filed to register additional Baskets in reliance
      on
      Rule 429, and (iii) there is financial information incorporated by reference
      into the Registration Statement or the Prospectus, such documents and
      certificates in the form as reasonably requested; and 

    

    (e) to
      cause
      the Fund to file a post-effective amendment to the Registration Statement no
      less frequently than once per calendar quarter on or about the same time that
      the Fund files a quarterly or annual report pursuant to Section 13 or 15(d)
      of
      the Exchange Act (including the information contained in such report), until
      such time as the Fund’s reports filed pursuant to Section 13 or 15(d) of the
      Exchange Act are incorporated by reference in the Registration
      Statement.

     

    
      
        
          
            
            

          

          
            13

            
              

            

          

          
            
            

          

        

      

    

     

    Section
      15. Third Party Beneficiaries. 

     

    Each
      AP
      Indemnified Person, to the extent it is not a party to this Agreement, is a
      third-party beneficiary of this Agreement (each, a “Third Party Beneficiary”)
      and may proceed directly against the Authorized Purchaser (including by bringing
      proceedings against the Authorized Purchaser in its own name) to enforce any
      obligation of the Authorized Purchaser under this Agreement which directly
      or
      indirectly benefits such Third Party Beneficiary.

    

    Section
      16. Force Majeure. 

     

    No
      party
      to this Agreement shall incur any liability for any delay in performance, or
      for
      the non-performance, of any of its obligations under this Agreement by reason
      of
      any cause beyond its reasonable control. This includes any act of God or war
      or
      terrorism, any breakdown, malfunction or failure of transmission in connection
      with or other unavailability of any wire, communication or computer facilities,
      any transport, port, or airport disruption, industrial action, acts and
      regulations and rules of any governmental or supra national bodies or
      authorities or regulatory or self-regulatory organization or failure of any
      such
      body, authority or organization for any reason, to perform its obligations.
      

    

    Section
      17. Miscellaneous.
      

     

    (a) Entire
      Agreement. This Agreement (including any schedules and exhibits attached hereto
      and thereto) contains all of the agreements among the parties hereto (and
      thereto) with respect to the transactions contemplated hereby (and thereby)
      and
      supersedes all prior agreements or understandings, whether written or oral,
      among the parties with respect thereto.

    

    (b) Amendment
      and Modification. This Agreement may be amended, modified or supplemented only
      by a written instrument executed by all the parties.

    

    (c) Successors
      and Assigns; Assignment. All the terms and provisions of this Agreement shall
      be
      binding upon and inure to the benefit of the parties and their respective
      successors and permitted assigns. This Agreement shall not be assigned by any
      party without the prior written consent of the other parties and any assignment
      without such consent shall be null and void.

    

    (d) Waiver
      of
      Compliance. Except as otherwise provided in this Agreement, any failure of
      any
      of the parties to comply with any obligation, covenant, agreement or condition
      herein may be waived by the party entitled to the benefits thereof only by
      a
      written instrument signed by the party granting such waiver, but any such
      waiver, or the failure to insist upon strict compliance with any obligation,
      covenant, agreement or condition herein, shall not operate as a waiver of,
      or
      estoppel with respect to, any subsequent or other failure or
      breach.

    

    (e) Severability.
      The parties hereto desire that the provisions of this Agreement be enforced
      to
      the fullest extent permissible under the law and public policies applied in
      each
      jurisdiction in which enforcement is sought. Accordingly, in the event that
      any
      provision of this Agreement would be held in any jurisdiction to be invalid,
      prohibited or unenforceable for any reason, such provision, as to such
      jurisdiction, shall be ineffective, without invalidating the remaining
      provisions of this Agreement or affecting the validity or enforceability of
      such
      provision in any other jurisdiction. Notwithstanding the foregoing, if such
      provision could be more narrowly drawn so as not to be invalid, prohibited
      or
      unenforceable in such jurisdiction, it shall, as to such jurisdiction, be so
      narrowly drawn, without invalidating the remaining provisions of this Agreement
      or affecting the validity or enforceability of such provision in any other
      jurisdiction.

     

    
      
        
          
            
            

          

          
            14

            
              

            

          

          
            
            

          

        

      

    

     

    (f) Notices.
      All notices, waivers, or other communications pursuant to this Agreement shall
      be in writing and shall be deemed to be sufficient if delivered personally,
      by
      facsimile (and, if sent by facsimile, followed by delivery by
      nationally-recognized express courier), sent by nationally-recognized express
      courier or mailed by registered or certified mail (return receipt requested),
      postage prepaid, to the parties at the following addresses (or at such other
      address for a party as shall be specified by like notice):

    

    (1)     
       if
      to
      General Partner, to:

    

    Victoria
      Bay Asset Management, LLC

    c/o
      Nicholas D. Gerber

    P.O.
      Box
      6919

    Morago,
      CA 94570

    

    (2)      
      if
      to the
      Authorized Purchaser, to:

    

    [please
      provide]

    

    All
      such
      notices and other communications shall be deemed to have been delivered and
      received (i) in the case of personal delivery or delivery by facsimile or
      e-mail, on the date of such delivery if delivered during business hours on
      a
      Business Day or, if not delivered during business hours on a Business Day,
      the
      first Business Day thereafter, (ii) in the case of delivery by
      nationally-recognized express courier, on the first Business Day following
      dispatch, and (iii) in the case of mailing, on the third Business Day following
      such mailing.

    

    (g) Governing
      Law; Jurisdiction.

    

    (1) All
      questions concerning the construction, interpretation and validity of this
      Agreement shall be governed by and construed and enforced in accordance with
      the
      domestic laws of the State of New York, without giving effect to any choice
      or
      conflict of law provision or rule (whether in the State of New York or any
      other
      jurisdiction) that would cause the application of the laws of any jurisdiction
      other than the State of New York. In furtherance of the foregoing, the internal
      law of the State of New York will control the interpretation and construction
      of
      this Agreement, even if under such jurisdiction’s choice of law or conflict of
      law analysis, the substantive law of some other jurisdiction would ordinarily
      or
      necessarily apply.

    

    (2) Each
      party irrevocably consents and agrees, for the benefit of the other parties,
      that any legal action, suit or proceeding against it with respect to its
      obligations, liabilities or any other matter arising out of or in connection
      with this Agreement or any related agreement may be brought in the courts of
      the
      State of New York and hereby irrevocably consents and submits to the
      non-exclusive jurisdiction of each such court in personam, generally and
      unconditionally with respect to any action, suit or proceeding for itself and
      in
      respect of its properties, assets and revenues. Each party irrevocably waives
      any immunity to jurisdiction to which it may otherwise be entitled or become
      entitled (including sovereign immunity, immunity to pre-judgment attachment
      and
      execution) in any legal suit, action or proceeding against it arising out of
      or
      based on this Agreement or any related agreement or the transactions
      contemplated hereby or thereby which is instituted in any court of the State
      of
      New York.

     

    
      
        
          
            
            

          

          
            15

            
              

            

          

          
            
            

          

        

      

    

     

    The
      provisions of this Section 17(g) shall survive any termination of this
      Agreement, in whole or in part.

    

    (h) No
      Partnership. Nothing in this Agreement is intended to, or will be construed
      to
      constitute the General Partner or the Fund, on the one hand, and the Authorized
      Purchaser or any of its Affiliates, on the other hand, as partners or joint
      venturers; it being intended that the relationship between them will at all
      times be that of independent contractors.

    

    (i) Interpretation.
      The article and section headings contained in this Agreement are solely for
      the
      purpose of reference, are not part of the agreement of the parties and shall
      not
      in any way affect the meaning or interpretation of this Agreement.

    

    (j) No
      Strict
      Construction. The language used in this Agreement will be deemed to be the
      language chosen by the parties to express their mutual intent, and no rule
      of
      strict construction will be applied against any party.

    

    (k)
       Counterparts;
      Facsimile Signatures. This Agreement may be executed in two or more
      counterparts, each of which shall be deemed an original but all of which
      together shall constitute one and the same instrument. Facsimile counterpart
      signatures to this Agreement shall be acceptable and binding.

    

    (l) Other
      Usages. The following usages shall apply in interpreting this Agreement: (i)
      references to a governmental or quasigovernmental agency, authority or
      instrumentality shall also refer to a regulatory body that succeeds to the
      functions of such agency, authority or instrumentality; and (ii) “including”
means “including, but not limited to.”

    

    Section
      18. Confidentiality.

    

    
      	 	
              (a)

            	
              The
                General Partner and the Authorized Purchaser shall during the Term
                and for
                one (1) year thereafter maintain in confidence, use only for the
                purposes
                provided for in this Agreement, and not disclose to any third party,
                without first obtaining the other party’s consent in writing, any and all
                Confidential Information (as defined below) such party receives from
                the
                other party; provided, however, that either party may disclose
                Confidential Information received from the other party to those of
                its
                Representatives as may be necessary for such party to carry out its
                obligations under this Agreement. 

            

    

     

    
      
        
          
            
            

          

          
            16

            
              

            

          

          
            
            

          

        

      

       

    

    
      	 	 	
              “Confidential
                Information” shall mean all information or data of a party that is
                disclosed to or received by the other party, whether orally, visually
                or
                in writing, in any form, including, without limitation, information
                or
                data which relates to such party’s business or operations, research and
                development, marketing plans or activities, or actual or potential
                products.

            

    

    

    
      	 	
              (b)

            	
              Notwithstanding
                the provisions of this Agreement to the contrary, a party shall have
                no
                liability to the other party for the disclosure or use of any Confidential
                Information of the other party if the Confidential
                Information:

            

    

    

    
      	 	 	
              (i)

            	
              is
                known to such party at the time of disclosure other than as the result
                of
                a breach of this Section 18 by such
                party;

            

    

    

    
      	 	 	
              (ii)

            	
              has
                been or becomes publicly known, other than as the result of a breach
                of
                this Section 18 by such party, or has been or is publicly disclosed
                by the
                other party;

            

    

    

    
      	 	 	
              (iii)

            	
              is
                received by such party after the date of this Agreement from a third
                party
                (unless such third party breaches an obligation of confidentiality
                to the
                other party); or

            

    

    

    
      	 	 	
              (iv)

            	
              is
                required to be disclosed by law or similar compulsion or in connection
                with any legal proceeding, provided that such party shall promptly
                inform
                the other party in writing of such requirement and that such disclosure
                shall be limited to the extent so required and, except to the extent
                prohibited by law, such party shall reasonably cooperate with the
                other
                party (at the expense of the other party) in seeking a protective
                order or
                other suitable confidentiality
                protections.

            

    

    

    
      	 	
              (c)

            	
              The
                parties recognize and acknowledge that a breach or threatened breach
                by a
                party of the provisions of this Section 18 may cause irreparable
                and
                material loss and damage to the other party which cannot be adequately
                remedied at law and that, accordingly, in addition to, and not in
                lieu of,
                any damages or other remedy to which the non-breaching party may
                be
                entitled, the issuance of an injunction or other equitable remedy
                (without
                the requirement that a bond or other security be posted) is an appropriate
                remedy for the non-breaching party for any breach or threatened breach
                of
                the obligations set forth in this Section
                18.

            

    

    

    
      	 	
              (d)

            	
              Each
                party agrees that it will use the same degree of care, but no less
                than a
                reasonable degree of care, in safeguarding the Confidential Information
                of
                the other party as it uses for its own Confidential Information of
                a
                similar nature. Each party shall promptly notify the other party
                in
                writing of any misuse, misappropriation or unauthorized disclosure
                of the
                Confidential Information of the other party that may come to such
                party’s
                attention.

            

    

    

    
      	 	
              (e)

            	
              Upon
                the termination of this Agreement, if requested in writing by the
                other
                party, each party shall, at such party’s option, promptly destroy or
                return to the other party all Confidential Information received from
                the
                other party, all copies and extracts of such Confidential Information
                and
                all documents or other media containing any such Confidential
                Information.

            

    

    
       

       

      
        
          
          

        

        
          17

          
            

          

        

        
          
          

        

      

       

    

    IN
      WITNESS WHEREOF, the Authorized Purchaser and the General Partner have caused
      this Agreement to be executed by their duly authorized representatives as of
      the
      date first set forth above. 

     

    
      VICTORIA
        BAY ASSET MANAGEMENT, LLC

       

      
        	 	 	 
	
                By: 

              	 	 	 	 
	 	
                Nicholas
                  D. Gerber

              	 	 	 
	
                Name:

              	 	 	 	 
	
                Title:

              	 	 	 	 
	
                Address:
                  

              	 	 	 	 
	
                Telephone:

              	 	 	 	 
	
                Facsimile:

              	 	 	 	 

      

       

      [AUTHORIZED
        PURCHASER]

      

      
        	 	 	 
	
                By: 

              	 	 	 	 
	
                Name:

              	 	 	 	 
	
                Title:

              	 	 	 	 
	
                Address:
                  

              	 	 	 	 
	
                Telephone:

              	 	 	 	 
	
                Facsimile:

              	 	 	 	 

      

    

     

    
      
        
        

      

      
        18

        
          

        

      

      
        
        

      

    

    EXHIBIT
      A

    

    UNITED
      STATES NATURAL GAS FUND, LP

    CREATION
      AND REDEMPTION PROCEDURES

    

    Scope
      of
      Procedures and Overview

    

    These
      procedures (the “Procedures”) describe the processes by which one or more
      Baskets of United States Natural Gas Fund, LP Units (the “Units”) may be
      purchased by an Authorized Purchaser, or, once Units have been issued, redeemed
      by an Authorized Purchaser. Units may be created or redeemed only in blocks
      of
      100,000 Units (each such block, a “Basket”).

    

    For
      purposes of these Procedures, a “Business Day” is defined as any day other than
      a day on which the American Stock Exchange (“AMEX”), the New York Mercantile
      Exchange (“NYMEX”) or the New York Stock Exchange (“NYSE”) is closed for regular
      trading. 

    

    Baskets
      are issued pursuant to the Prospectus, which will be delivered by the Marketing
      Agent to each Authorized Purchaser prior to its execution of the Authorized
      Purchaser Agreement, and are issued and redeemed in accordance with the
      Authorized Purchaser Agreement. Baskets may be issued and redeemed on any
      Business Day by the Marketing Agent in exchange for cash and/or Treasuries,
      which the Custodian receives from Authorized Purchasers or transfers to
      Authorized Purchasers, in each case on behalf of the Fund. 

    

    Upon
      acceptance of the Authorized Purchaser Agreement, the Marketing Agent will
      assign a personal identification number (a “PIN number”) to each Authorized
      Person authorized to act for the Authorized Purchaser. This will allow the
      Authorized Purchaser through its Authorized Person(s) to place Purchase Order(s)
      or Redemption Order(s) for Baskets. 

    

    Important
      Notes:

    

    ·  Any
      Order
      is subject to rejection by the General Partner or the Marketing Agent, as agent
      of the General Partner, for the reasons set forth in the Authorized Purchaser
      Agreement.

    

    ·  All
      Orders are subject to the provisions of the Partnership Agreement, the
      Prospectus and the Authorized Purchaser Agreement relating to unclear or
      ambiguous instructions.

    

    ·  The
      Authorized Purchaser, and each distributor offering and selling Units as part
      of
      the distribution of such Units, shall comply with the prospectus delivery and
      disclosure requirements of the 1933 Act as well as the analogous requirements
      under the CEA, including, the requirement that prospective investors provide
      an
      acknowledgement of receipt of such disclosure materials prior to the payment
      for
      any Units. 

    

    CREATION
      PROCESS

    

    An
      Order
      to purchase one or more Baskets placed by an Authorized Purchaser with the
      Marketing Agent by 12:00 PM New York time or the close of regular trading on
      the
      AMEX, whichever is earlier (the “Order Cut-Off Time”) on a Business Day (such
      day, “CREATION T”) results in the transfer to the Authorized Purchaser’s account
      at The Depository Trust Company (“DTC”) of Baskets the Authorized Purchaser has
      purchased, in most instances, by 9:00 AM New York time on CREATION T+3:

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    CREATION
      PROCEDURES

    

    1. By
      the
      Order Cut-Off Time (the earlier of the close of regular trading on the AMEX
      or
      12:00 PM New York time), an Authorized Person of the Authorized Purchaser calls
      the Marketing Agent at (303) 623-2577 to notify such agent that the Authorized
      Purchaser wishes to place a Purchase Order to create an identified number of
      Baskets and to request that it be provided with an order number (an “Order
      Number”). The Authorized Person provides a PIN number as identification. The
      Marketing Agent provides the Authorized Purchaser with an Order Number for
      the
      Authorized Purchaser’s Purchase Order Form. The Authorized Purchaser then
      completes and faxes to the Marketing Agent the Purchase Order Form included
      as
      Exhibit B to the Authorized Purchaser Agreement. The Purchase Order Form must
      include the Authorized Person’s signature, the number of Baskets being
      purchased, and the Order Number. 

    

    2. If
      the
      Marketing Agent has not received the Purchase Order Form from the Authorized
      Purchaser within 15 minutes after the Marketing Agent receives the phone call
      from the Authorized Purchaser referenced in item (1) above, the Marketing Agent
      places a phone call to the Authorized Purchaser to enquire about the status
      of
      the Order. If the Authorized Purchaser does not fax the Purchase Order Form
      to
      the Marketing Agent within 15 minutes after the Marketing Agent’s phone call,
      the Authorized Purchaser’s Order is cancelled. The Marketing Agent will then
      notify the Authorized Purchaser that the Order has been cancelled via telephone
      call.

    

    3. If
      the
      Marketing Agent has received the Authorized Purchaser’s Purchase Order Form on
      time in accordance with the preceding timing rules, then by 1:00 PM New York
      time the Marketing Agent returns to the Authorized Purchaser a copy of the
      Purchase Order Form submitted, marking it “Affirmed.” 

    

    4. Based
      on
      the Purchase Orders placed with it on CREATION T, the Marketing Agent sends
      a
      facsimile to the Transfer Agent indicating the total number of creation Units
      and total amount of cash and/or Treasuries for which the Marketing Agent will
      require an allocation into the custodial accounts
      of,
      respectively, the Authorized Purchaser and the Fund on CREATION T+3. If the
      Marketing Agent rejects a Purchase Order pursuant to the Authorized Purchaser
      Agreement after the foregoing messages are given to the Custodian, the Marketing
      Agent will notify the Transfer Agent of such rejection as
      soon
      as practicable
      but, in
      any event, by 1:30 PM New York time the same day,
      identifying the Authorized Purchaser whose Purchase Order was rejected and
      the
      amount of Units contained in the rejected Purchase Order. The Transfer Agent
      will address any such rejection notifications received after 1:30 PM New York
      time only on a best efforts basis. 

     

    
      REDEMPTION
        PROCESS

       

    

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    An
      order
      to redeem one or more Baskets placed by an Authorized Purchaser with the
      Marketing Agent by 12:00 PM New York time or the close of regular trading on
      the
      AMEX, whichever is earlier, on a Business Day (such day, “REDEMPTION T”) results
      in the following taking place by 3:00 p.m. New York time on REDEMPTION
      T+3:

    

    ·  Transfer
      to the account at DTC and the subsequent cancellation of the relevant number
      of
      the Authorized Purchaser’s Baskets; and

    

    ·  Transfer
      to the Authorized Purchaser by credit to the Authorized Purchaser’s account of
      cash and Treasuries, if any, in the relevant amount(s) corresponding to the
      Baskets delivered for redemption (the “Redemption Distribution”).

    

    REDEMPTION
      PROCEDURES

    

    REDEMPTION
      T (REDEMPTION ORDER TRADE DATE)

    

    1. By
      the
      Order Cut-off Time, an Authorized Person of the Authorized Purchaser calls
      the
      Marketing Agent at (303)
      623−2577 to
      notify
      the Marketing Agent that the Authorized Purchaser wishes to place a Redemption
      Order with the Marketing Agent to redeem an identified number of Baskets and
      to
      request that the Marketing Agent provide an Order Number. The Authorized Person
      provides a PIN number as identification to the Marketing Agent. The Marketing
      Agent provides the Authorized Purchaser with an Order Number for the Authorized
      Purchaser’s Redemption Order Form. The Authorized Purchaser then completes and
      faxes to the Marketing Agent the Redemption Order Form included as Exhibit
      B to
      the Authorized Purchaser Agreement. The Redemption Order Form must include
      the
      Authorized Person’s signature, the number of Baskets being redeemed, and the
      Order Number previously provided by the Marketing Agent.

    

    2. If
      the
      Marketing Agent has not received the Redemption Order Form from the Authorized
      Purchaser within 15 minutes after the Marketing Agent receives the phone call
      from the Authorized Purchaser referenced in item (1) above, the Marketing Agent
      places a phone call to the Authorized Purchaser to enquire about the status
      of
      the Order. If the Authorized Purchaser does not fax the Redemption Order Form
      to
      the Marketing Agent within 15 minutes after the Marketing Agent’s phone call,
      the Authorized Purchaser’s Order is cancelled. The Marketing Agent will then
      notify the Authorized Purchaser that the Order has been cancelled via telephone
      call. 

    

    3. If
      the
      Marketing Agent has received the Authorized Purchaser’s Redemption Order Form on
      time in accordance with the preceding timing rules, then by 1:00 PM New York
      time the Marketing Agent returns to the Authorized Purchaser a copy of the
      Redemption Order Form submitted, marking it “Affirmed.” The Marketing Agent also
      indicates on the Redemption Order Form the amount of Treasuries and/or
      cash,
      if
      any, to be delivered in the Redemption Distribution, and provides details of
      the
      method of payment to be used for the Transaction Fee and the method of delivery
      of the Treasuries and/or
      cash
      portion, if any, of the Redemption Distribution. 

    

    4. By
      1:00
      PM New York time, the Marketing Agent sends a facsimile containing instructions
      to the Transfer Agent to transfer on REDEMPTION T+3 from the custodial accounts
      of, respectively, the Authorized Purchaser and the Fund (“deallocate”) the total
      number of creation units and the total amount of cash and/or Treasuries required
      to settle the Redemption Orders received by the Marketing Agent on REDEMPTION
      T.
      If the Marketing Agent rejects a Redemption Order pursuant to the Authorized
      Purchaser Agreement after the foregoing message is sent, the Marketing Agent
      will notify the Transfer Agent of such rejection as
      soon as
      practicable
      but, in
      any event,
      by 1:30
      pm New York time the same day, identifying the Authorized Purchaser whose
      Redemption Order was rejected and the amount of Units contained in the rejected
      Redemption Order. The Transfer Agent will address any such rejection
      notifications received after 1:30 pm New York time only on a best efforts basis.
      

    

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    REDEMPTION
      T+3

     

    1. By
      3:00
      PM New York time, the Authorized Purchaser delivers free to the relevant account
      at DTC the Baskets to be redeemed. 

    

    2. If
      the
      Custodian does not receive from a redeeming Authorized Purchaser all Units
      comprising the Baskets being redeemed by 3:00 PM New York time, (i) the
      Custodian will, only upon instruction from the General Partner, settle the
      Redemption Order to the extent of whole Baskets received from the Authorized
      Purchaser and (ii) the Marketing Agent will keep the redeeming Authorized
      Purchaser’s Redemption Order open until 9:00 AM New York time on the following
      Business Day (REDEMPTION T+4) as to the balance of the Redemption Order (such
      balance, the “Suspended Redemption Order”). For each day (whether or not a
      Business Day) the Redemption Order is held open, the Authorized Purchaser will
      be charged the greater of $300 or $30 times the number of Units included in
      the
      Suspended Redemption Order, as determined in the sole discretion of the Fund.
      

    

    REDEMPTION
      T+4

     

    1. By
      9:00
      AM New York time, the redeeming Authorized Purchaser must deliver free to the
      account at DTC the Basket(s) comprising the Suspended Redemption Order. The
      Marketing Agent will settle the Suspended Redemption Order to the extent of
      whole Baskets received. Any balance of the Suspended Redemption Order will
      be
      cancelled. 

    

    2. The
      sequence of instructions and events related to the settlement of the Suspended
      Redemption Order on REDEMPTION T+4 will be made in the manner provided for
      a
      Redemption Order under REDEMPTION T+3. 

    

    *
      * *
      *

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    EXHIBIT
      A-1

    

    UNITED
      STATES NATURAL GAS FUND, LP

    INITIAL
      CREATION PROCEDURES

    

    Scope
      of
      Procedures and Overview

    

    These
      procedures (the “Initial Procedures”) describe the process by which one or more
      Baskets of United States Natural Gas Fund, LP Units (the “Units”) may be
      purchased by an Authorized Purchaser. Units may be created only in blocks of
      100,000 Units (each such block, a “Basket”).

    

    For
      purposes of these Initial Procedures, a “Business Day” is defined as any day
      other than a day on which the American Stock Exchange (“AMEX”), the New York
      Mercantile Exchange (“NYMEX”) or the New York Stock Exchange (“NYSE”) is closed
      for regular trading. 

    

    Baskets
      are issued pursuant to the Prospectus, which will be delivered by the Marketing
      Agent to the Authorized Purchaser prior to its execution of the Authorized
      Purchaser Agreement, and are issued in accordance with the Authorized Purchaser
      Agreement. Baskets may be issued on any Business Day by the Marketing Agent
      in
      exchange for cash and/or Treasuries, which the Custodian receives from the
      Authorized Purchaser on behalf of the Fund. 

    

    Upon
      acceptance of the Authorized Purchaser Agreement, the Marketing Agent will
      assign a personal identification number (a “PIN number”) to the Authorized
      Person authorized to act for the Authorized Purchaser. This will allow the
      Authorized Purchaser through its Authorized Person(s) to place the initial
      purchase order for Baskets. 

    

    Important
      Notes:

    

    ·  Any
      Order
      is subject to rejection by the General Partner or the Marketing Agent, as agent
      of the General Partner, for the reasons set forth in the Authorized Purchaser
      Agreement.

    

    ·  All
      Orders are subject to the provisions of the Partnership Agreement, the
      Prospectus and the Authorized Purchaser Agreement relating to unclear or
      ambiguous instructions.

    

    ·  The
      Authorized Purchaser, and each distributor offering and selling Units as part
      of
      the distribution of such Units, shall comply with the prospectus delivery and
      disclosure requirements of the 1933 Act as well as the analogous requirements
      under the CEA, including, the requirement that prospective investors provide
      an
      acknowledgement of receipt of such disclosure materials prior to the payment
      for
      any Units. 

     

    
      CREATION
        PROCESS

    

     

    An
      Order
      to purchase one or more of the initial Baskets placed by the Authorized
      Purchaser with the Marketing Agent by 9:00 AM New York time (the “Order Cut-Off
      Time”) on a Business Day (such day, “CREATION T”) results in the transfer to the
      Authorized Purchaser’s account at The Depository Trust Company (“DTC”) of
      Baskets the Authorized Purchaser has purchased by 12:00 PM New York time on
      CREATION T+0 if payment for such Baskets has been received by the Custodian
      prior to that time: 

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    CREATION
      PROCEDURES

    

    1. By
      the
      Order Cut-Off Time (the earlier of the close of regular trading on the AMEX
      or
      9:00 AM New York time), an Authorized Person of the Authorized Purchaser calls
      the Marketing Agent at (303) 623-2577 to notify such agent that the Authorized
      Purchaser wishes to place a Purchase Order to create an identified number of
      Baskets and to request that it be provided with an order number (an “Order
      Number”). The Authorized Person provides a PIN number as identification. The
      Marketing Agent provides the Authorized Purchaser with an Order Number for
      the
      Authorized Purchaser’s Purchase Order Form. The Authorized Purchaser then
      completes and faxes to the Marketing Agent the Purchase Order Form included
      as
      Exhibit B to the Authorized Purchaser Agreement. The Purchase Order Form must
      include the Authorized Person’s signature, the number of Baskets being
      purchased, and the Order Number. 

    

    2. If
      the
      Marketing Agent has not received the Purchase Order Form from the Authorized
      Purchaser within 15 minutes after the Marketing Agent receives the phone call
      from the Authorized Purchaser referenced in item (1) above, the Marketing Agent
      places a phone call to the Authorized Purchaser to enquire about the status
      of
      the Order. If the Authorized Purchaser does not fax the Purchase Order Form
      to
      the Marketing Agent within 15 minutes after the Marketing Agent’s phone call,
      the Authorized Purchaser’s Order is cancelled. The Marketing Agent will then
      notify the Authorized Purchaser that the Order has been cancelled via telephone
      call.

    

    3. If
      the
      Marketing Agent has received the Authorized Purchaser’s Purchase Order Form on
      time in accordance with the preceding timing rules, then by 10:00 AM New York
      time the Marketing Agent returns to the Authorized Purchaser a copy of the
      Purchase Order Form submitted, marking it “Affirmed.” 

    

    4. Based
      on
      the Purchase Orders placed with it on CREATION T, the Marketing Agent sends
      a
      facsimile to the Transfer Agent indicating the total number of creation Units
      and total amount of cash and/or Treasuries for which the Marketing Agent will
      require an allocation into the custodial accounts
      of,
      respectively, the Authorized Purchaser and the Fund on CREATION T+0 once the
      Custodian confirms to the Transfer Agent that the payment for such Baskets
      in
      same day funds has been received by it from the Authorized Purchaser. If the
      Marketing Agent rejects a Purchase Order pursuant to the Authorized Purchaser
      Agreement after the foregoing messages are given to the Custodian, the Marketing
      Agent will notify the Transfer Agent of such rejection as
      soon
      as practicable but, in any event, by 10:30 AM New York time the same
      day,
      identifying the amount of cash and/or Treasuries contained in the rejected
      Purchase Order. The Transfer Agent will address any such rejection notifications
      received after 10:30 AM New York time only on a best efforts basis.

    

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

       

    

    EXHIBIT
      B

     

    UNITED
      STATES NATURAL GAS FUND, LP

     

      
        

      

    

    PURCHASE/REDEMPTION
      ORDER FORM

    
      
        

      

    

     

    CONTACT
      INFORMATION FOR ORDER EXECUTION:

    Telephone
      order number:     Telex
      Number  

    Facsimile
      number:     Business
      Number 

    
      

    

    ALL
      ITEMS
      IN PART I MUST BE COMPLETED BY AN
      AUTHORIZED PURCHASER.
      THE
      GENERAL PARTNER AND/OR THE MARKETING AGENT, IN THEIR DISCRETION, MAY REJECT
      ANY
      ORDER NOT SUBMITTED IN COMPLETE FORM.

     

    I.  TO
      BE COMPLETED BY AUTHORIZED PURCHASER:

    

    Date:______________________________            Time:____________________________

    Broker
      Name:________________________    Firm
      Name:_______________________ 

    NSCC
      Participant
      Number:______________            DTC
      Participant Number:____________

    Telephone
      Number:___________________            Telex
      Number:____________________

    Fax
      Number:_________________________

    

    Type
      of
      Order (Check One)

    

    Amount
      Created Units (100,000
      Units) ___________ 

    

    Amount
      Written Out    ___________

    

    Amount
      Redeemed Units (100,000 Units) _____________

    

    Amount
      Written Out:   ___________

    

    Order
      #: ____________________
      

    

    Authorized
      Person’s Signature  ________________________________

     

    II.    
TO
      BE COMPLETED BY ALPS DISTRIBUTORS,
      INC.:

     

    This
      certifies that the above order has been:

    

    ___________
      Accepted by the Marketing Agent (for purchase or redemption) 

    

    ___________
      Declined - Reason: 
________________________________________________

    

    ____________   ____________  ______________________________

    Date        Time       Authorized
      Signature

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    EXHIBIT
      C

    

    UNITED
      STATES NATURAL GAS FUND, LP

    

    FORM
      OF
      CERTIFIED AUTHORIZED PERSONS 

    OF
      AUTHORIZED PURCHASER

     

    The
      following are the names, titles and signatures of all persons (each an
“Authorized Person”) authorized to give instructions relating to any activity
      contemplated by the United States Natural Gas Fund, LP Authorized Purchaser
      Agreement or any other notice, request or instruction on behalf of the
      Authorized Purchaser pursuant to the aforementioned agreement.

    

    Authorized
      Purchaser: _______________________

    

    

    Name:
       ____________________________

    

    Title: _____________________________

    

    Signature:
       _________________________

    

    

    

    Name:
       ____________________________

    

    Title:
       _____________________________

    

    Signature:
       _________________________

    

    

    

    Name: ____________________________

    

    Title: _____________________________

    

    Signature: _________________________

    

    

    The
      undersigned, [name], [title] of [company], does hereby certify that the persons
      listed above have been duly elected to the offices set forth beneath their
      names, that they presently hold such offices, that they have been duly
      authorized to act as Authorized Persons pursuant to the United States Natural
      Gas Fund, LP Authorized Purchaser Agreement by and between [Authorized
      Purchaser] and
      the
      General Partner of United States Natural Gas Fund, LP, dated
      ___________________, and that their signatures set forth above are their own
      true and genuine signatures. 

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    IN
      WITNESS WHEREOF, the undersigned has hereby set his/her hand and the seal of
      [company] on the date set forth below. 

    

    Subscribed
      and sworn to before me

    this
      ___
      day of ___________, ______.

    

    

    By:

    

    Name: ___________________________

    

    Signature:
       _________________________

    

    

    Notary
      Public

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    

     

    EXHIBIT
      D

    

    BBH
      Pricing Policies

    Futures,
      Forwards, Swaps, Options and Treasuries

    

    The
      pricing policies stated below are used for all BBH clients,
      including Mutual Fund Registered Investment Companies. These policies have
      been
      audited by numerous accounting firms during annual fund audits.

    

    Futures

     

    Futures
      traded on exchanges are valued using the closing settlement prices quoted on
      the
      relevant exchange and obtained from pricing sources, typically Bloomberg or
      Reuters. 

    

    Forward
      Currency Contracts

     

    BBH
      obtains
      the WM Reuters London Close closing spot rates and the WM Reuters London Close
      forward point rates on a daily basis. The currency forward contract pricing
      model derives the differential in point rates to the expiration date of the
      forward and calculates its present value. The forward is valued at the net
      of
      the present value and the spot rate.

    

    Swaps

     

    Swaps
      and
      other similar derivative or contractual type instruments are valued at a price
      provided by a single broker or dealer, typically the counterparty. If no such
      price is available, the contract is valued at a price at which the counterparty
      to such contract would repurchase the instrument or terminate the
      contract.

    

    Options

     

    Option
      contracts on securities, currencies, indices, futures contracts, commodities
      and
      other instruments shall be valued at the last sale price on the exchange or
      market that is the Primary Market. If a contract did not trade on the Primary
      Market, it shall be valued at the last sale price on another exchange or market
      where it did trade. If there is no such sale price, the value shall be the
      most
      recent bid quotation.

    

    Sale
      prices and bid quotations indicated above shall be supplied by a Pricing Service
      (Reuters, Bloomberg, IDC, etc.). If a Pricing Service is not able to provide
      such sale prices or bid quotations, the value shall be determined by taking
      the
      mean between the bid and the asked quotations provided by a single broker or
      dealer, unless the broker or dealer can only provide a bid quotation, in which
      case the value shall be such bid quotation.

    

    Except
      as
      provided below, OTC currency options are valued by uploading the applicable
      implied volatility rates from Reuters or Bloomberg. Other inputs are either
      uploaded (interest rates, spots) or are specified when the ticker symbols are
      set up (expiration date, strike). OTC currency options are then priced by using
      the Garman-Kohlhagen modified Black-Scholes formula, which adjusts for a
      constant yield versus a fixed dividend.

    

    Except
      as
      provided below, OTC equity/index options are priced according to the contract
      specifications (days to expiration, current spot index level, interest rates,
      dividends, strike price) using the Black-Scholes pricing model, modified for
      dividends. The volatility input assumption is interpolated from the previous
      day’s price.

    

    US
      Treasuries

    BBH
      uses
      an evaluated bid supplied by IDC for treasury prices.

     

    

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    EXHIBIT
      E

    

    UNITED
      STATES NATURAL GAS FUND, LP

    

    OFFICER’S
      CERTIFICATE

    

    The
      undersigned, a duly authorized officer of Victoria Bay Asset Management, LLC,
      a
      Delaware limited liability company (the “General Partner”), and pursuant to
      Section 13(d) of the United States Natural Gas Fund, LP Authorized Purchaser
      Agreement (the “Agreement”), dated as of _____________________, by and between
      the General Partner and [Authorized
      Purchaser],
      (“the
      Authorized Purchaser”), hereby certifies that:

    

    1. Each
      of
      the following representations and warranties of the General Partner is true
      and
      correct in all material respects as of the date hereof:

    

    (a) the
      Prospectus does not contain an untrue statement of a material fact or omit
      to
      state a material fact required to be stated therein or necessary to make the
      statements therein, in light of the circumstances under which they were made,
      not misleading; the Registration Statement complies in all material respects
      with the requirements of the 1933 Act and the Prospectus complies in all
      material respects with the requirements of the 1933 Act and any statutes,
      regulations, contracts or other documents that are required to be described
      in
      the Registration Statement or the Prospectus or to be filed as exhibits to
      the
      Registration Statement have been so described or filed; the conditions to the
      use of Form S-1 or S-3, if applicable, have been satisfied; the Registration
      Statement does not contain an untrue statement of a material fact or omit to
      state a material fact required to be stated therein or necessary to make the
      statements therein not misleading and the Prospectus does not contain an untrue
      statement of a material fact or omit to state a material fact required to be
      stated therein or necessary to make the statements therein, in light of the
      circumstances under which they were made, not misleading; provided, however,
      that the General Partner makes no warranty or representation with respect to
      any
      statement contained in the Registration Statement or any Prospectus in reliance
      upon and in conformity with information concerning the Authorized Purchaser
      and
      furnished in writing by or on behalf of the Authorized Purchaser to the General
      Partner expressly for use in the Registration Statement or such Prospectus;
      and
      neither the General Partner nor any person known to the General Partner acting
      on behalf of the Fund has distributed nor will distribute any offering material
      other than the Registration Statement or the Prospectus;

    

    (b) the
      Fund
      has been duly formed and is validly existing as an investment fund under the
      laws of the State of Delaware, as described in the Registration Statement and
      the Prospectus, and as described in the Prospectus, the Marketing Agent is
      authorized to issue and deliver the Baskets to the Authorized
      Purchaser;

    

    (c) the
      General Partner has been duly organized and is validly existing as a limited
      liability company in good standing under the laws of the State of Delaware,
      with
      full power and authority to conduct its business as described in the
      Registration Statement and the Prospectus, and has all requisite power and
      authority to execute and deliver this Agreement; 

    

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    (d) the
      General Partner is duly qualified and is in good standing in each jurisdiction
      where the conduct of its business requires such qualification; and the Fund
      is
      not required to so qualify in any jurisdiction;

    

    (e) the
      outstanding Units have been duly and validly issued and are fully paid and
      non-assessable and free of statutory and contractual preemptive rights, rights
      of first refusal and similar rights; 

    

    (f) the
      Units
      conform in all material respects to the description thereof contained in the
      Registration Statement and the Prospectus and the holders of the Units will
      not
      be subject to personal liability by reason of being such holders; 

    

    (g) this
      Agreement has been duly authorized, executed and delivered by the General
      Partner and constitutes the valid and binding obligations of the General
      Partner, enforceable against the General Partner in accordance with its
      terms;

    

    (h) the
      General Partner is not in breach or violation of or in default under (nor has
      any event occurred which with notice, lapse of time or both would result in
      any
      breach or violation of, constitute a default under or give the holder of any
      indebtedness (or a person acting on such holder’s behalf) the right to require
      the repurchase, redemption or repayment of all or a part of such indebtedness
      under) its constitutive documents, or any indenture, mortgage, deed of trust,
      bank loan or credit agreement or other evidence of indebtedness, or any license,
      lease, contract or other agreement or instrument to which the General Partner
      is
      a party or by which any of them or any of their properties may be bound or
      affected, and the execution, delivery and performance of this Agreement, the
      issuance and sale of Units to the Authorized Purchaser hereunder and the
      consummation of the transactions contemplated hereby does not conflict with,
      result in any breach or violation of or constitute a default under (nor
      constitute any event which with notice, lapse of time or both would result
      in
      any breach or violation of or constitute a default under), respectively, the
      amended and restated limited liability company agreement of the General Partner,
      or any indenture, mortgage, deed of trust, bank loan or credit agreement or
      other evidence of indebtedness, or any license, lease, contract or other
      agreement or instrument to which the General Partner is a party or by which,
      respectively, the General Partner or any of its properties may be bound or
      affected, or any federal, state, local or foreign law, regulation or rule or
      any
      decree, judgment or order applicable to the General Partner or the Fund;

    

    (i) 
      no
      approval, authorization, consent or order of or filing with any federal, state,
      local or foreign governmental or regulatory commission, board, body, authority
      or agency is required in connection with the issuance and sale of Creation
      Baskets to the Authorized Purchaser hereunder or the consummation by the General
      Partner or the Fund of the transactions contemplated hereunder other than
      registration of the Units under the 1933 Act and the filing of the Prospectus
      with the National Futures Association, which has been effected, and any
      necessary qualification under the securities or blue sky laws of the various
      jurisdictions in which the Units are being offered or under the rules and
      regulations of the American Stock Exchange;

    

    (j) except
      as
      set forth in the Registration Statement and the Prospectus (i) no person has
      the
      right, contractual or otherwise, to cause the Fund to issue or sell to it any
      Units or other equity interests of the Fund, and (ii) no person has the right
      to
      act as an underwriter or as a financial advisor to the Fund in connection with
      the offer and sale of the Units, in the case of each of the foregoing clauses
      (i), and (ii), whether as a result of the filing or effectiveness of the
      Registration Statement or the sale of the Units as contemplated thereby or
      otherwise; no person has the right, contractual or otherwise, to cause the
      General Partner on behalf of the Fund or the Fund to register under the 1933
      Act
      any other equity interests of the Fund, or to include any such shares or
      interests in the Registration Statement or the offering contemplated thereby,
      whether as a result of the filing or effectiveness of the Registration Statement
      or the sale of the Units as contemplated thereby or otherwise; 

    

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    (k) each
      of
      the General Partner and the Fund has all necessary licenses, authorizations,
      consents and approvals and has made all necessary filings required under any
      federal, state, local or foreign law, regulation or rule, and has obtained
      all
      necessary authorizations, consents and approvals from other persons, in order
      to
      conduct its respective business; the General Partner is not in violation of,
      or
      in default under, or has not received notice of any proceedings relating to
      revocation or modification of, any such license, authorization, consent or
      approval or any federal, state, local or foreign law, regulation or rule or
      any
      decree, order or judgment applicable to the General Partner; 

    

    (l) all
      legal
      or governmental proceedings, affiliate transactions, off-balance sheet
      transactions, contracts, licenses, agreements, leases or documents of a
      character required to be described in the Registration Statement or the
      Prospectus or to be filed as exhibits to the Registration Statement have been
      so
      described or filed as required; 

    

    (m) except
      as
      set forth in the Registration Statement and the Prospectus, there are no
      actions, suits, claims, investigations or proceedings pending or threatened
      or
      contemplated to which the General Partner or the Fund, or any of the General
      Partner’s directors or officers, is or would be a party or of which any of their
      respective properties are or would be subject at law or in equity, before or
      by
      any federal, state, local or foreign governmental or regulatory commission,
      board, body, authority or agency;

    

    (n) Spicer
      Jeffries LLP, whose report on the audited financial statements of the Fund
      is
      filed with the SEC as part of the Registration Statement and the Prospectus,
      are
      independent public accountants as required by the 1933 Act;

    

    (o) the
      audited financial statement(s) included in the Prospectus, together with the
      related notes and schedules, presents fairly the financial position of the
      Fund
      as of the date indicated and has been prepared in compliance with the
      requirements of the 1933 Act and in conformity with generally accepted
      accounting principles; there are no financial statements (historical or pro
      forma) that are required to be included in the Registration Statement and the
      Prospectus that are not included as required; and the Fund does not have any
      material liabilities or obligations, direct or contingent (including any
      off-balance sheet obligations), not disclosed in the Registration Statement
      and
      the Prospectus; 

    

    (p) subsequent
      to the respective dates as of which information is given in the Registration
      Statement and the Prospectus, there has not been (i) any material adverse
      change, (ii) any transaction which is material to the General Partner or
      the Fund taken as a whole, (iii) any obligation, direct or contingent (including
      any off-balance sheet obligations), incurred by the General Partner or the
      Fund,
      which is material to the Fund, (iv) any change in the Units purchased by the
      Authorized Purchaser or outstanding indebtedness of the General Partner or
      the
      Fund or (v) any dividend or distribution of any kind declared, paid or made
      on
      such Units; 

    

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

    (q) the
      Fund
      is not and, after giving effect to the offering and sale of the Units, will
      not
      be an “investment company” or an entity “controlled” by an “investment company,”
as such terms are defined in the Investment Company Act; 

    

    (r) except
      as
      set forth in the Registration Statement and the Prospectus, the General Partner
      and the Fund own, or have obtained valid and enforceable licenses for, or other
      rights to use, the inventions, patent applications, patents, trademarks (both
      registered and unregistered), tradenames, copyrights, trade secrets and other
      proprietary information described in the Registration Statement and the
      Prospectus as being owned or licensed by them or which are necessary for the
      conduct of their respective businesses, (collectively, “Intellectual Property”);

    

    (i)
      to
      the knowledge of the General Partner or the Fund, there are no third parties
      who
      have or will be able to establish rights to any Intellectual Property, except
      for the ownership rights of the owners of the Intellectual Property which is
      licensed to the General Partner or the Fund; 

    

    (ii)
      to
      the knowledge of the General Partner or the Fund, there is no infringement
      by
      third parties of any Intellectual Property; 

    

    (iii)
      there is no pending or, to the knowledge of the General Partner or the Fund,
      threatened action, suit, proceeding or claim by others challenging the General
      Partner or the Fund’s rights in or to any Intellectual Property, and the General
      Partner and the Fund are unaware of any facts which could form a reasonable
      basis for any such claim; 

    

    (iv)
      there is no pending or, to the knowledge of the General Partner or the Fund,
      threatened action, suit, proceeding or claim by others challenging the validity
      or scope of any Intellectual Property as to which the General Partner and the
      Fund have no knowledge of any such pending or threatened claims, and the General
      Partner and the Fund are unaware of any facts which could form a reasonable
      basis for any such claim; 

    

    (v)
      there
      is no pending or, to the knowledge of the General Partner or the Fund,
      threatened action, suit, proceeding or claim by others that the General Partner
      or the Fund infringes or otherwise violates any patent, trademark, copyright,
      trade secret or other proprietary rights of others, and the General Partner
      and
      the Fund are unaware of any facts which could form a reasonable basis for any
      such claim; and

    

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

     

    (vi)
      to
      the knowledge of the General Partner or the Fund, there is no patent or patent
      application that contains claims that interfere with the issued or pending
      claims of any of the Intellectual Property; and 

    

    (s) all
      tax
      returns required to be filed by the General Partner have been filed, and all
      taxes and other assessments of a similar nature (whether imposed directly or
      through withholding) including any interest, additions to tax or penalties
      applicable thereto due or claimed to be due from such entities have been paid;
      and no tax returns or tax payments are due with respect to the Fund as of the
      date of this Agreement; 

    

    (t) the
      General Partner has not sent or received any communication regarding termination
      of, or intent not to renew, any of the contracts or agreements referred to
      or
      described in, or filed as an exhibit to, the Registration Statement, and no
      such
      termination or non-renewal has been threatened by the General Partner or any
      other party to any such contract or agreement; 

    

    (u) on
      behalf
      of the Fund, the General Partner has established and maintains disclosure
      controls and procedures (as such term is defined in Rule 13a-14 and 15d-14
      under
      the Exchange Act, giving effect to the rules and regulations, and SEC staff
      interpretations (whether or not public), thereunder)); such disclosure controls
      and procedures are designed to ensure that material information relating to
      the
      Fund, is made known to the General Partner, and such disclosure controls and
      procedures are effective to perform the functions for which they were
      established; on behalf of the Fund, the General Partner has been advised of:
      (i)
      any significant deficiencies in the design or operation of internal controls
      which could adversely affect the Fund’s ability to record, process, summarize,
      and report financial data; and (ii) any fraud, whether or not material, that
      involves management or other employees who have a role in the Fund’s internal
      controls; any material weaknesses in internal controls have been identified
      for
      the Fund’s auditors; 

    

    (w) any
      statistical and market-related data included in the Registration Statement
      and
      the Prospectus are based on or derived from sources that the General Partner
      believes to be reliable and accurate, and the General Partner has obtained
      the
      written consent to the use of such data from such sources to the extent
      required; and 

    

    (x) neither
      the General Partner, nor any of the General Partner’s directors, members,
      officers, affiliates or controlling persons has taken, directly or indirectly,
      any action designed, or which has constituted or might reasonably be expected
      to
      cause or result in, under the Exchange Act or otherwise, the stabilization
      or
      manipulation of the price of any security or asset of the Fund to facilitate
      the
      sale or resale of the Units. 

    

    For
      purposes hereof, the term “Registration Statement” shall mean the Registration
      Statement as amended or supplemented from time to time to the date hereof,
      the
      term “Preliminary Prospectus” shall mean the preliminary prospectus dated
      ______________, relating to the Units and any other prospectus dated prior
      to
      effectiveness of the Registration Statement relating to the Units, and the
      term
“Prospectus” shall mean the Prospectus as amended or supplemented from time to
      time to the date hereof. 

    

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

     

    2. Each
      of
      the obligations of the General Partner to be performed by it on or before the
      date hereof pursuant to the terms of the Agreement, and each of the provisions
      thereof to be complied with by the General Partner on or before the date hereof,
      has been duly performed and complied with in all material respects. Capitalized
      terms used, but not defined herein shall have the meanings assigned to such
      terms in the Agreement.

    

    IN
      WITNESS WHEREOF, I have hereunto, on behalf of the General Partner, subscribed
      my name this ___ day of ________, ____.

     

    
      	 	 	 
	 	By:  	 
	 	
              

              Name:

            
	 	Title:

    

     

    I,
      _______________, in my capacity as [title], hereby certify that _______________
      is the duly elected [title] of the General Partner, and that the signature
      set
      forth immediately above is [his/her] genuine signature. 

    

    IN
      WITNESS WHEREOF, I have hereunto set my hand as of the date first set forth
      above.

    
       

      
        	 	 	 
	 	By:  	 
	 	
                

                Name:

              
	 	Title:

      

    

     

    
      
        
        

      

      
        8

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