Document:

REGISTRATION
RIGHTS AGREEMENT

     

    THIS
REGISTRATION RIGHTS AGREEMENT (“Agreement”) made as
of this 22nd day of November, 2010, by and among SRKP 23, Inc., a Delaware
corporation (the “Company”); Weixin
International Co., Limited, a company organized under the laws of the British
Virgin Islands and upon the Closing Date (as defined below) a 100%-owned
subsidiary of the Company (“Weixin BVI”); and the
undersigned (each a “Holder” and together
the “Holders”).

     

    WHEREAS,
the Company; Weixin BVI; Wei Xin Holding Group Limited, a company organized
under the laws of Hong Kong and a wholly-owned subsidiary of Weixin BVI (“Weixin HK”); Gangzhou
Kelida Intelligent Equipment Co., Ltd., a company organized under the laws of
the People’s Republic of China and a wholly-owned subsidiary of Weixin HK
(“Kelida”);
Zhaoqing Hua Su Plastic Trading Company, Zhaoqing Chuang Yi Resources Recycle
Co., Ltd., Zhaoqing Xin Ye Plastic Co., Ltd., and Zhaoqing Li Jun Craftwork Co.,
Ltd., each a company organized under the laws of the People’s Republic of China
and a wholly-owned subsidiary of Kelida; and all of the shareholders of Weixin
BVI, dated as of November 12, 2010 (the “Exchange Agreement”),
pursuant to which Weixin BVI will become a 100%-owned subsidiary of the Company
and 100% of the outstanding securities of Weixin BVI will be exchanged for
shares of common stock, par value $0.0001 per share (the “Common Stock”) of the
Company (the “Share
Exchange”);

     

    WHEREAS,
immediately after the effective time of the Share Exchange (the “Closing Date”), the
Company will assume the business and operations of Weixin BVI;

     

    WHEREAS,
the Company agreed to file, within thirty (30) days after the Closing Date with
the U.S. Securities and Exchange Commission (the “Commission” or “SEC”) a registration
statement (the “Initial Registration
Statement”) covering the resale of shares issued in connection with the
Company’s private offering, the first closing of which occurred concurrently
with the Share Exchange; and

     

    WHEREAS,
as set forth in Section 9.1 of the Exchange Agreement, and as a condition to the
closing of the Share Exchange, the Company agreed to enter into a registration
rights agreement requiring the Company to file with the Commission, within the
time periods as set forth herein, a registration statement covering the resale
of shares of Common Stock of the Company, as set forth on Schedule I hereof
(the “Shares”),
held by those persons (and/or their designees) that are stockholders of the
Company immediately prior to the Closing Date (“Holders”).

     

    NOW,
THEREFORE, for and in consideration of the promises and the mutual covenants
hereinafter set forth, the parties hereto do hereby agree as
follows:

    
      
         

      

      
        1

        
          

        

      

      
         

      

    

    1.           Registration
Rights

     

    1.1         Registration
Requirement.  Subject to the terms and limitations hereof, the
parties hereto agree and acknowledge that the Company shall prepare and file a
registration statement (the “Registration
Statement”) on Form S-1 or other appropriate registration document under
the Securities Act of 1933, as amended (the “Act”) for resale of
the Shares (the “Registrable
Securities”) and shall use its reasonable best efforts to maintain the
Registration Statement effective for a period of twelve (12) months at the
Company’s expense (the “Effectiveness
Period”).  The Company shall file such Registration Statement
no later than the tenth (10th) day
after the end of the six (6) month period that immediately follows the filing
date of the Initial Registration Statement (the “Required Filing
Date”), provided that if such day is not a business day, then the
Required Filing Date shall be the next business day thereafter.  The
Company shall use reasonable best efforts to cause such Registration Statement
to become effective within one hundred fifty (150) days after the Required
Filing Date or the actual filing date, whichever is earlier, or one hundred
eighty (180) days after the Required Filing Date or the actual filing date,
whichever is earlier, if the Registration Statement is subject to a full review
by the SEC (the “Required Effectiveness
Date”).  If the Company fails to file the Registration
Statement by the Required Filing Date or if the Registration Statement does not
become effective on or before the Required Effectiveness Date due to the failure
of the Company to fulfill its obligations hereunder, the Company shall be
required to issue, as liquidated damages, to each of the Holders shares (the
“Penalty
Shares”) equal to a total of 0.0333% of his, her or its respective Shares
for each calendar day that the Registration Statement has not been filed or
declared effective by the SEC (and until the Registration Statement is filed
with or declared effective by the SEC), as applicable.

     

    1.2         Limitation to Registration
Requirement.  Notwithstanding the foregoing, no Penalty Shares
shall be due to the Holders if the Company is using its best efforts to cause
the Registration Statement to be filed and declared effective in a timely
manner.  In addition, the Company shall not be obligated to effect any
registration of the Registrable Securities or take any other action pursuant to
this Section 1: (i) in any particular jurisdiction in which the Company would be
required to execute a general consent to service of process in effecting such
registration, qualification or compliance unless the Company is already subject
to service in such jurisdiction and except as may be required by the Act; or
(ii) during any period in which the Company suspends the rights of a Holder
after giving the Holder written notification of a Potential Material Event
(defined below) pursuant to Section 1.6 hereof.

     

    1.3         Expenses of
Registration.  Except as otherwise expressly set forth herein,
the Company shall bear all expenses incurred by the Company in compliance with
the registration obligation of the Company, including, without limitation, all
registration and filing fees, printing expenses, fees and disbursements of
counsel for the Company incurred in connection with any registration,
qualification or compliance pursuant to this Agreement and all underwriting
discounts, selling commissions and expense allowances applicable to the sale of
any securities by the Company for its own account in any
registration.  All underwriting discounts, selling commissions and
expense allowances applicable to the sale by a Holder of Registrable Securities
and all fees and disbursements of counsel for a Holder shall be borne by the
Holder.

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    1.4         Indemnification.

     

    (a)           To
the extent permitted by law the Company will indemnify each Holder, each of its
officers, directors, agents, employees and partners, and each person controlling
such Holder, with respect to each registration, qualification or compliance
effected pursuant to this Agreement, and each underwriter, if any, and each
person who controls any underwriter, and their respective counsel against all
claims, losses, damages and liabilities (or actions, proceedings or settlements
in respect thereof) arising out of or based on (i) any untrue statement (or
alleged untrue statement) of a material fact contained in any prospectus,
offering circular or other document prepared by the Company (including any
related registration statement, notification or the like) incident to any such
registration, qualification or compliance, or (ii) any omission (or alleged
omission) to state therein a material fact required to be stated therein or
necessary to make the statements therein not misleading, or any violation by the
Company of the Act or any rule or regulation thereunder applicable to the
Company and relating to action or inaction required of the Company in connection
with any such registration, qualification or compliance, and subject to the
provisions of Section 1.4(c) below, will reimburse each such Holder, each of its
officers, directors, agents, employees and partners, and each person controlling
such Holder, each such underwriter and each person who controls any such
underwriter, for any legal and any other expenses as they are reasonably
incurred in connection with investigating and defending any such claim, loss,
damage, liability or action, provided that the Company will not be liable in any
such case to the extent that any such claim, loss, damage, liability or expense
arises out of or is based on any untrue statement (or alleged untrue statement)
or omission (or alleged omissions) based upon written information furnished to
the Company by (or on behalf of) such Holder or underwriter, or if the person
asserting any such loss, claim, damage or liability (or action or proceeding in
respect thereof) did not receive a copy of an amended preliminary prospectus or
the final prospectus (or the final prospectus as amended and supplemented) at or
before the written confirmation of the sale of such Registrable Securities to
such person because of the failure of the Holder or underwriter to so provide
such amended preliminary or final prospectus (or the final prospectus as amended
and supplemented); provided, however,
that the indemnity agreement contained in this subsection shall not apply to
amounts paid in settlement of any such loss, claim, damage, liability or action
if such settlement is effected without the consent of the Company (which consent
shall not be unreasonably withheld), nor shall the Company be liable in any such
case for any such loss, claim, damage, liability or action to the extent that it
arises out of or is based upon a violation which occurs in reliance upon and in
conformity with written information furnished expressly for use in connection
with such registration by the Holder, any such partner, officer, director,
employee, agent or controlling person of such Holder, or any such underwriter or
any person who controls any such underwriter; provided, however, that the
obligations of the Company hereunder shall be limited to an amount equal to the
portion of net proceeds represented by the Registrable Securities pursuant to
this Agreement.

     

    (b)           To
the extent permitted by law, each Holder whose Registrable Securities are
included in any registration, qualification or compliance effected pursuant to
this Agreement will indemnify the Company, and its directors, officers, agents,
employees and each underwriter, if any, of the Company’s securities covered by
such a registration statement, each person who controls the Company or such
underwriter within the meaning of the Act and the rules and regulations
thereunder, each other such Holder and each of their officers, directors,
partners, agents and  employees, and each person controlling such
Holder, and their respective counsel against all claims, losses, damages and
liabilities (or actions in respect thereof) arising out of or based on any
untrue statement (or alleged untrue statement) of a material fact contained in
any such registration statement, prospectus, offering circular or other
document, or any omission (or alleged omission) to state therein a material fact
required to be stated therein or necessary to make the statements therein not
misleading, and will reimburse the Company and such Holders, directors,
officers, partners, persons, underwriters or control persons for any legal or
any other expenses as they are reasonably incurred in connection with
investigating or defending any such claim, loss, damage, liability or action, in
each case to the extent, but only to the extent, that such untrue statement (or
alleged untrue statement) or omission (or alleged omission) is made in such
registration statement, prospectus, offering circular or other document in
reliance upon and in conformity with written information furnished to the
Company by such Holder; provided, however, that the
obligations of any Holder hereunder shall be limited to an amount equal to the
net proceeds to such Holder from Registrable Securities sold under such
registration statement, prospectus, offering circular or other document as
contemplated herein; provided, further, that the indemnity agreement contained
in this subsection shall not apply to amounts paid in settlement of any such
loss, claim, damage, liability or action if such settlement is effected without
the consent of the Holder, which consent shall not be unreasonably withheld or
delayed.

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    (c)           Each
party entitled to indemnification under this Section (the “Indemnified Party”)
shall give notice to the party required to provide indemnification (the “Indemnifying Party”)
promptly after such Indemnified Party has actual knowledge of any claim as to
which indemnity may be sought, and shall permit the Indemnifying Party to assume
the defense of any such claim or any litigation resulting therefrom, provided
that counsel for the Indemnifying Party, who shall conduct the defense of such
claim or any litigation resulting therefrom, shall be approved by the
Indemnified Party (whose approval shall not unreasonably be withheld or
delayed), and the Indemnified Party may participate in such defense at such
party’s expense; and provided further that if any Indemnified Party reasonably
concludes that there may be one or more legal defenses available to it that are
not available to the Indemnifying Party, or that such claim or litigation
involves or could have an effect on matters beyond the scope of this Agreement,
then the Indemnified Party may retain its own counsel at the expense of the
Indemnifying Party; and provided further that the failure of any Indemnified
Party to give notice as provided herein shall not relieve the Indemnifying Party
of its obligations under this Agreement unless and only to the extent that such
failure to give notice results in material prejudice to the Indemnifying
Party.  No Indemnifying Party, in the defense of any such claim or
litigation, shall, except with the consent of each Indemnified Party, consent to
entry of any judgment or enter into any settlement which does not include as an
unconditional term thereof the giving by the claimant or plaintiff to such
Indemnified Party of a release from all liability in respect to such claim or
litigation.  Each Indemnified Party shall furnish such information
regarding itself or the claim in question as an Indemnifying Party may
reasonably request in writing and as shall be reasonably required in connection
with defense of such claim and litigation resulting therefrom.

     

    (d)           If
the indemnification provided for in this Section is held by a court of competent
jurisdiction to be unavailable to an Indemnified Party with respect to any loss,
liability, claim, damage or expense referred to herein, then the Indemnifying
Party, in lieu of indemnifying such Indemnified Party hereunder, shall
contribute to the amount paid or payable by such Indemnified Party as a result
of such loss, liability, claim, damage or expense in such proportion as is
appropriate to reflect the relative fault of the Indemnifying Party on the one
hand and of the Indemnified Party on the other in connection with the statements
or omissions which resulted in such loss, liability, claim, damage or expense as
well as any other relevant equitable considerations.  The relative
fault of the Indemnifying Party and of the Indemnified Party shall be determined
by reference to, among other things, whether the untrue or alleged untrue
statement of a material fact or the omission to state a material fact relates to
information supplied by the Indemnifying Party or by the Indemnified Party and
the parties’ relative intent, knowledge, access to information and opportunity
to correct or prevent such statement or omission.

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

    1.5         Transfer or Assignment of
Registration Rights. The Registrable Securities, and any related benefits
to the Holder hereunder may be transferred or assigned by the Holder to a
permitted transferee or assignee, provided that the Company is given written
notice of such transfer or assignment, stating the name and address of said
transferee or assignee and identifying the Registrable Securities with respect
to which such registration rights are being transferred or assigned; provided
further that the transferee or assignee of such Registrable Securities shall be
deemed to have assumed the obligations of the Holder under this Agreement by the
acceptance of such assignment and shall, upon request from the Company, evidence
such assumption by delivery to the Company of a written agreement assuming such
obligations of the Holder.

     

    1.6         Registration
Procedures.  In the case of the registration effected by the
Company pursuant to this Agreement, the Company will keep the Holder advised in
writing as to the initiation of each registration and as to the completion
thereof.  The Company will:

     

    (a)          Prepare
and file with the SEC such amendments and supplements to such registration
statement and the prospectus used in connection with such registration statement
as may be necessary to comply with the provisions of the Act with respect to the
disposition of securities covered by such registration statement;

     

    (b)          Respond
as promptly as reasonably practicable to any comments received from the SEC with
respect to a registration statement or any amendment thereto;

     

    (c)          Notify
the Holders as promptly as reasonably practicable and (if requested by any such
persons) confirm such notice in writing no later than one trading day following
the day (i) when a prospectus or any prospectus supplement or post-effective
amendment to a registration statement is proposed to be filed and (ii) with
respect to a registration statement or any post-effective amendment, when the
same has become effective;

     

    (d)          Furnish
such number of prospectuses and other documents incident thereto, including
supplements and amendments, as the Holders may reasonably request;

     

    (e)          Furnish
to the Holders, upon request, a copy of all documents filed with and all
correspondence from or to the SEC in connection with any such registration
statement other than non-substantive cover letters and the like;

     

    (f)           Use
its reasonable best efforts to avoid the issuance of, or, if issued, obtain the
withdrawal of (i) any order suspending the effectiveness of a registration
statement, or (ii) any suspension of the qualification (or exemption from
qualification) of any of the Registrable Securities for sale in any
jurisdiction, at the earliest practicable moment; and

     

    (g)          Use
its reasonable best efforts to comply with all applicable rules and regulations
of the SEC.

     

    Notwithstanding
the foregoing, if at any time or from time to time after the date hereof, the
Company notifies the Holders in writing of the existence of an event or
circumstance that is not disclosed in the Registration Statement and that may
have a material effect on the Company or its business (a “Potential Material
Event”), the Holders shall not offer or sell any Registrable Securities,
or engage in any other transaction involving or relating to the Registrable
Securities, from the time of the giving of notice with respect to a Potential
Material Event until the Company notifies the Holders that such Potential
Material Event either has been added to the Registration Statement by amendment
or supplement or no longer constitutes a Potential Material Event; provided, that the
Company may not so suspend the right of Holders for more than one hundred twenty
(120) days in the aggregate.

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

    1.7         Statement of Beneficial
Ownership.  The Company may require each Holder to furnish to
the Company a certified statement as to the number of shares of Common Stock
beneficially owned, including derivative instruments underlying Common
Stock,  by such Holder and the controlling person thereof and any
other such information regarding the Holder, the Registrable Securities held by
the Holder and the intended method of disposition of such securities as shall be
reasonably required with respect to the registration of the Holder’s Registrable
Securities.  Each Holder hereby understands and agrees that the
Company may, in its sole discretion, exclude the Holder’s shares of Common Stock
from the Registration Statement in the event that the Holder fails to provide
such information requested by the Company within the time period reasonably
specified by the Company or is required to do so by law or the SEC.

     

    1.8         Compliance.  Each
Holder covenants and agrees that he, she or it will comply with the prospectus
delivery requirements of the Act as applicable to such Holder in connection with
sales of Registrable Securities pursuant to the registration statement required
hereunder.

     

    1.9         Piggy-Back
Registrations.  If at any time during the Effectiveness Period
there is not an effective registration statement covering all of the Registrable
Securities and the Company shall determine to prepare and file with the SEC a
registration statement relating to an offering for its own account or the
account of others under the Act of any of its Common Stock, other than an
offering of securities issued pursuant to a Strategic Issuance (as defined
below) and other than a Form S-4 or Form S-8 registration statement (each as
promulgated under the Act or their then equivalents relating to equity
securities to be issued solely in connection with any business combination
transaction, acquisition of any entity or business or equity securities issuable
in connection with stock option or other employee benefit plans), then the
Company shall send to the  Holders (together with any other holders of
its Common Stock possessing “piggyback registration rights” comparable to those
granted to the Holders hereunder (“Rightsholders”))
written notice of such determination and, if within fifteen (15) days after
receipt of such notice, a Holder shall so request in writing, the Company shall
include in such registration statement all or any part of such Registrable
Securities such Holder requests to be registered; provided that the Company
shall not be required to register any Registrable Securities pursuant to this
Section that are eligible for resale pursuant to Rule 144 promulgated under the
Act; and provided further that the Company may, without the consent of the
Holder, withdraw such registration statement before its becoming effective if
the Company or other stockholders have elected to abandon the proposal to
register the securities proposed to be registered thereunder.  If the
registration statement is being filed for an underwritten public offering, a
Holder must timely execute and deliver the usual and customary agreement among
the Company, such Holder and the underwriters relating to the
registration.  If the registration statement is being filed for an
underwritten offer and sale by the Company of securities for its own account and
the managing underwriters advise the Company in writing that in their opinion
the offering contemplated by the registration statement cannot be successfully
completed if the Company were to also register the Registrable Shares of the
Holders requested to be included in such registration statement, then the
Company will include in the registration: (i) first, any securities the Company
proposes to sell, (ii) second, any securities of any person whose securities are
being registered as a result of the exercise of a demand registration right, and
(iii) third, that portion of the aggregate number of shares being requested for
inclusion in the registration statement by (X) the Holders and (Y) all other
Rightsholders, which in the opinion of such managing underwriters can
successfully be sold, such number of shares to be taken pro rata from the
Rightsholders on the basis of the total number of shares being requested for
inclusion in the registration statement by each Rightsholder.  “Strategic Issuance”
shall mean an issuance of securities: (i) in connection with a “corporate
partnering” transaction or a “strategic alliance” (as determined by the board of
directors of the Company in good faith); (ii) in connection with any financing
transaction in respect of which the Company is a borrower; or (iii) to a vendor,
lessor, lender, or customer of the Company, or a research, manufacturing or
other commercial collaborator of the Company, in a transaction approved by the
Company’s board of directors, provided in any case, that such issuance is not
being made primarily for the purpose of avoiding compliance with this
Agreement.

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

    2.           Miscellaneous

     

    2.1         Any
notice or other communication given hereunder shall be deemed sufficient if in
writing and sent by registered or certified mail, return receipt requested,
addressed to the Company, at Weixin International Co., Limited, 3/F., Jin Peng
Building, 9 Shen Zhou Road, Guangzhou Science City, Guangzhou, People’s Republic
of China, Attention:  Xiao Liu, with a copy to (which shall
not constitute notice) K&L Gates LLP, 10100 Santa Monica Blvd., Seventh
Floor, Los Angeles, California 90067, Attention: Thomas J. Poletti, Esq., and to
the Holders at their respective addresses indicated on Schedule I of this
Agreement.  Notices shall be deemed to have been given three (3)
business days after the date of mailing, except notices of change of address,
which shall be deemed to have been given when received.

     

    2.2         This
Agreement may only be amended through a written instrument signed by the
Holders, Weixin BVI and the Company.

     

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

     

    2.4         Notwithstanding
the place where this Agreement may be executed by any of the parties hereto, the
parties expressly agree that this Agreement shall be construed in accordance
with and governed by the laws of the State of Delaware, without giving effect to
conflicts of law principles.

     

    2.5         This
Agreement may be executed in counterparts. Upon the execution and delivery of
this Agreement, this Agreement shall become a binding obligation of the parties
hereto.  This Agreement may be executed and delivered by
facsimile.

     

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

     

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

    
      
         

      

      
        7

        
          

        

      

      
         

      

    

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

     

    2.9         The
Company agrees not to disclose the names, addresses or any other information
about the Holders, except as required by law, provided that the Company may
provide information relating to the Holders as required in any registration
statement under the Act that may be filed by the Company pursuant to the
requirements of this Agreement.

     

    2.10       The
obligation of each Holder hereunder is several and not joint with the
obligations of any other Holders (the “Other Holders”), and
each Holder shall not be responsible in any way for the performance of the
obligations of any Other Holders.  Nothing contained herein or in any
other agreement or document delivered at the Closing, and no action taken by a
Holder pursuant hereto, shall be deemed to constitute the Holder and the Other
Holders as a partnership, an association, a joint venture or any other kind of
entity, or create a presumption that the Holder and the Other Holders are in any
way acting in concert with respect to such obligations or the transactions
contemplated by this Agreement.  Each Holder shall be entitled to
protect and enforce the Holder’s rights, including without limitation the rights
arising out of this Agreement, and it shall not be necessary for any Other
Holder to be joined as an additional party in any proceeding for such
purpose.  The language used in this Agreement will be deemed to be the
language chosen by the parties to express their mutual intent, and no rules of
strict construction will be applied against any party.  No Holder is
acting as part of a “group” (as that term is used in Section 13(d) of the
Securities Exchange Act of 1934, as amended) in negotiating and entering into
this Agreement or purchasing the Shares or acquiring, disposing of or voting any
of the underlying shares of Common Stock.  The Company hereby confirms
that it understands and agrees that the Holders are not acting as part of any
such group.

     

    [SIGNATURE
PAGE FOLLOWS]

    
      
         

      

      
        8

        
          

        

      

      
         

      

    

    [SIGNATURE
PAGE TO REGISTRATION RIGHTS AGREEMENT]

    

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

     

    
      
        	
                /s/ Richard Rappaport

              
	
                Richard
      Rappaport

              
	 
      
	
                /s/ Anthony Pintsopoulos

              
	
                Anthony
      C. Pintsopoulos

              
	 
      
	
                /s/ Kevin DePrimio

              
	
                Kevin
      DePrimio

              
	 
      
	
                /s/ Jason Stern

              
	
                Jason
      Stern

              
	 
      
	
                /s/ Janine Frisco

              
	
                Janine
      Frisco

              
	 
      
	
                /s/ Debbie Schwartzberg

              
	
                Debbie
      Schwartzberg

              
	 
      
	
                The
      Julie Schwartzberg Trust dated 2/9/2000

              
	 
      
	
                By:

              	
                /s/ Debbie Schwartzberg

              
	
                Name:

              	
                Debbie Schwartzberg

              
	
                Title:

              	
                Trustee

              
	 
      
	
                The
      David N. Sterling Trust dated 2/3/2000

              
	 
      
	
                By:

              	
                /s/ Debbie Schwartzberg

              
	
                Name:

              	
                Debbie Schwartzberg

              
	
                Title:

              	
                Trustee

              

      

    

    
      
         

      

      
        9

        
          

        

      

      
         

      

    

    

    [SIGNATURE
PAGE TO REGISTRATION RIGHTS AGREEMENT]

    

    
      
        
          
            	
                    /s/ Xingrong Zhang

                  
	
                    Xingrong
      Zhang

                  
	 
      
	
                    /s/ Zhuo Chen

                  
	
                    Zhou
      Chen

                  
	 
      
	
                    /s/ Hailan Zhang

                  
	
                    Hailan
      Zhang

                  
	 
      
	
                    Amanda
      Rappaport Trust

                  
	 
      
	
                    By:

                  	
                    /s/ Richard Rappaport

                  
	
                    Name:

                  	
                    Richard Rappaport

                  
	
                    Title:

                  	
                    Trustee

                  
	 
      	 
      
	
                    Kailey
      Rappaport Trust

                  
	 
      	 
      
	
                    By:

                  	
                    /s/ Richard Rappaport

                  
	
                    Name:

                  	
                    Richard Rappaport

                  
	
                    Title:

                  	
                    Trustee

                  
	 
      	 
      
	
                    WestPark
      Capital Financial Services, LLC

                  
	 
      	 
      
	
                    By:

                  	
                    /s/
      Richard Rappaport

                  
	
                    Name:

                  	Name:	
                    Richard
      Rappaport

                  
	
                    Title:

                  	
                    Chief
      Executive
Officer

                  

          

        

      

    

     

    
      
        	
                SRKP
      23, INC.

              	 	
                WEIXIN
      INTERNATIONAL CO., LIMITED

              
	 
      	 
      	 	 
      	 
      
	
                By:

              	
                /s/ Richard Rappaport

              	 	
                By:

              	
                /s/ Zhang Hongyu

              
	
                Name:

              	
                Richard Rappaport

              	 	
                Name:

              	
                Zhang Hongyu

              
	
                Title:

              	
                President

              	 	
                Title:

              	
                Director

              

      

    

     

    
      
         

      

      
        10

        
          

        

      

      
         

      

    

    SCHEDULE
I

    

    HOLDERS
AND REGISTRABLE SECURITIES

    

    
      
        
          
            	 
      	     	
                    
                      HOLDER

                    

                  	     	
                    
                      NO. OF

                      OUTSTANDING

                      SHARES BEING

                      REGISTERED

                    

                  	     	
                    
                      NO. OF SHARES BEING

                      REGISTERED THAT ARE

                      ISSUABLE UPON EXERCISE

                      OF OUTSTANDING

                      WARRANTS

                    

                  	 
	
                    1.

                  	 	
                    Richard
      Rappaport

                    1900
      Avenue of the Stars, Suite 310

                    Los
      Angeles, CA 90067

                  	 	 	181,350	 	 	74,399	 
	
                    2.

                  	 	
                    Anthony
      C.  Pintsopoulos

                    1900
      Avenue of the Stars, Suite 310

                    Los
      Angeles, CA 90067

                  	 	 	117,000	 	 	48,000	 
	
                    3.

                  	 	
                    Kevin
      DePrimio

                    1900
      Avenue of the Stars, Suite 310

                    Los
      Angeles, CA 90067

                  	 	 	40,950	 	 	16,800	 
	
                    4.

                  	 	
                    Jason
      Stern

                    1900
      Avenue of the Stars, Suite 310

                    Los
      Angeles, CA 90067

                  	 	 	23,400	 	 	9,600	 
	
                    5.

                  	 	
                    Amanda
      Rappaport Trust

                    1900
      Avenue of the Stars, Suite 310

                    Los
      Angeles, CA 90067

                  	 	 	52,650	 	 	21,600	 
	
                    6.

                  	 	
                    Kailey
      Rappaport Trust

                    1900
      Avenue of the Stars, Suite 310

                    Los
      Angeles, CA 90067

                  	 	 	52,650	 	 	21,600	 
	
                    7.

                  	 	
                    Debbie
      Schwartzberg

                    785
      5th Avenue , Apt 10C

                    New
      York, NY 10022

                  	 	 	159,022	 	 	65,240	 
	
                    8.

                  	 	
                    The
      Julie Schwartzberg Trust dated 2/9/2000

                    785
      5th Avenue , Apt 10C

                    New
      York, NY 10022

                  	 	 	16,487	 	 	6,764	 
	
                    9.

                  	 	
                    The
      David N. Sterling Trust dated 2/3/2000

                    785
      5th Avenue , Apt 10C

                    New
      York, NY 10022

                  	 	 	16,487	 	 	6,764	 
	
                    10.

                  	 	
                    Janine
      Frisco

                    200
      Oceangate, Suite 1500

                    Long
      Beach, CA 90802-4302

                  	 	 	40,950	 	 	16,800	 
	
                    11.

                  	 	
                    Xinrong
      Zhang

                    TianLai
      17 Block, Zheng Zhong Golf

                    Long
      Gong District, Shenzhen

                    People’s
      Republic of China

                  	 	 	81,940	 	 	33,616	 
	
                    12.

                  	 	
                    Zhou
      Chen

                    TianLai
      17 Block, Zheng Zhong Golf

                    Long
      Gong District, Shenzhen

                    People’s
      Republic of China

                  	 	 	81,939	 	 	33,616	 
	
                    13.

                  	 	
                    HaiLan
      Zhang

                    TianLai
      17 Block, Zheng Zhong Golf

                    Long
      Gong District, Shenzhen

                    People’s
      Republic of China

                  	 	 	81,939	 	 	33,616	 
	
                    14.

                  	 	
                    WestPark
      Capital Financial Services, LLC

                    1900
      Avenue of the Stars, Suite 310

                    Los
      Angeles, CA 90067

                  	 	 	960,691	 	 	394,130	 
	 
      	 	 
      	 	 	 	 	 	 	 
	 
      	 	
                    TOTALS

                  	 	 	1,907,455	 	 	782,545	 

          

        

      

    

     

    
      
         

      

      
        11NOVELOS
THERAPEUTICS, INC.

    

    EXCHANGE
AGREEMENT

    

     

    This
EXCHANGE AGREEMENT (the “Agreement”) dated as
of November 30, 2010, is entered into by and among Novelos Therapeutics, Inc., a
Delaware corporation (the “Company”), and the
entities listed on the signature pages hereto (collectively, the “Preferred
Stockholders”) (the Company and Preferred Stockholders are sometimes
referred to herein individually as a “Party” and
collectively as the “Parties”).

     

    WHEREAS,
the Preferred Stockholders hold an aggregate of 408.264045 shares of the
Company’s Series E Convertible Preferred Stock, $0.00001 par value per share
(the “Series E
Preferred Stock”) and 204 shares of the Company’s Series C Convertible
Preferred Stock (the “Series C Preferred
Stock”; together with the Series E Preferred Stock, the “Preferred
Stock”);

     

    WHEREAS,
the Preferred Stock represented an aggregate liquidation preference of
$27,143,169 as of October 31, 2010, accrues dividends, in the case of the Series
E Preferred Stock, at a rate of 9% per annum, and in the case of the Series C
Preferred Stock, and 20% per annum, and has as conversion price of $0.65 per
share;

     

    WHEREAS,
the Company’s net worth as of September 30, 2010 was $(3,315,480) and its market
capitalization as of the close of business on October 29, 2010 was $7,684,495,
based on a closing price of $.05 on such date and assuming all Preferred Stock
had been converted as of that date; and

     

    WHEREAS,
the Company and each Preferred Stockholder desires to exchange each outstanding
share (and any fraction thereof) of Preferred Stock held by such Preferred
Stockholder, together with all accrued but unpaid dividends thereon, for the
number of shares of the Company’s Common Stock, par value $.00001 per share (the
“Common Stock”)
set forth on Schedule
A hereto effective upon the execution and delivery of the Agreement by
all Parties (the “Effective
Time”);

     

    NOW, THEREFORE, in consideration of the
premises and the mutual covenants herein contained, the Parties hereto agree as
follows:

     

    1.           Exchange.

     

    (a)           Subject
to the terms and conditions set forth herein, each of the Preferred Stockholders
hereby, severally and not jointly, agrees to exchange all shares of Preferred
Stock owned by such Preferred Stockholder, and all rights, preferences and
privileges associated therewith (including but not limited to any accrued but
unpaid dividends thereon) and all rights to liquidated damages under agreements
to register capital stock of any kind of the Company under the Securities Act of
1933, as amended (the “1933 Act”), for the number of shares of Common Stock set
forth on Schedule
A hereto as of the Effective Time (the “Exchange”).  The
Exchange shall be automatically effective, without any further action on the
part of any Preferred Stockholder, immediately upon Effective Time.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    (b)           No
later than three business days after the Effective Time, each Preferred
Stockholder shall surrender to the Company any and all certificates that
formerly represented shares of Preferred Stock held by such Preferred
Stockholder (or provide to the Company such evidence as is reasonably
satisfactory to the Company that such certificate representing shares of
Preferred Stock is lost or destroyed), and upon receipt thereof, the Company
shall, within three business days, issue new stock certificates for shares of
Common Stock as set forth in Schedule A hereto and
deliver such stock certificates for shares of Common Stock to the Preferred
Stockholders at the applicable addresses set forth on the signature pages hereto
or otherwise in accordance with the reasonable delivery instructions of such
Preferred Stockholder.

     

    (c)           To
the extent that each and every Preferred Stockholder has not delivered to the
Company an executed Agreement with respect to such Preferred Stockholder’s
respective shares of Preferred Stock (as set forth on Schedule A annexed to
this Agreement) by November 30, 2010, then any executed Agreement previously
delivered to the Company by any other Preferred Stockholders shall be deemed,
and will be, null, void and of no further force or effect.

     

    2.           Termination of Registration
Rights.  That certain Registration Rights Agreement among the
Company and the holders of Series E Preferred Stock dated as of February 11,
2009, as amended by that certain Consent and Amendment Agreement dated as of
January 21, 2010 (the “Consent and Amendment
Agreement”), and the Consent and Amendment Agreement are hereby
terminated and of no further force or effect.  That certain
Registration Rights Agreement among the Company and certain of the Parties
hereto dated August 9, 2009 is hereby terminated and of no further force or
effect.  Each of the Preferred Stockholders releases, effective as of
the Effective Time, any and all claims for liquidated damages arising under any
such agreements.

     

    3.           Representations of the
Company.  The Company represents and warrants to each Preferred
Stockholder that:

     

    (a)           The
Company has the requisite corporate power and authority to enter into and to
consummate the transactions contemplated by this Agreement and otherwise to
carry out its obligations hereunder.  The execution and delivery of
this Agreement by the Company and the consummation by it of the transactions
contemplated hereby and thereby have been duly authorized by all necessary
action on the part of the Company and no further action is required by the
Company, the Board of Directors or the Company’s stockholders in connection
herewith.

     

    (b)           After
the Exchange, the holding period of the Common Stock issued pursuant to the
Exchange for purposes of Rule 144 under the 1933 Act, shall be
deemed to have commenced on the same date as the holding period of the Preferred
Stock in respect of which such shares of Common Stock were issued.

     

    (c)           No
consent, approval, authorization or order of any court or governmental authority
having jurisdiction over the Company or the Company’s stockholders is required
for the execution, delivery and performance by the Company of the
Agreement.

     

    (d)           Assuming
the representations and warranties of the Preferred Stockholders in Section 4 are true
and correct, the issuance of shares of Common Stock pursuant to the Exchange
will not:

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    (i)  violate, conflict with,
result in a breach of, or constitute a default of a material nature under (A)
the certificate of incorporation or bylaws of the Company as in effect on the
date hereof, (B) any decree, judgment, order, law, treaty, rule or regulation
applicable to the Company or any of the Company’s properties or assets of any
court or governmental authority having jurisdiction over the Company or over the
properties or assets of the Company, or (C) the terms of any bond, debenture,
note or any other evidence of indebtedness for borrowed money, or any material
agreement, stock option or other similar plan, indenture, lease, mortgage, deed
of trust or other instrument to which the Company is a party, or by which it is
bound, or to which any of the properties or assets of the Company is subject;
or

     

    (ii)  result in the creation
or imposition of any lien, charge or encumbrance upon the shares of Common Stock
issuable hereunder or any of the properties or assets of the
Company.

     

    (e)           Upon
issuance, the shares of Common Stock issuable pursuant to the
Exchange:

     

    (i) will be, free and clear of any
security interests, liens, claims or other encumbrances, subject to restrictions
upon transfer under the 1933 Act and any applicable state securities
laws;

     

    (ii) will be, duly and validly issued,
fully paid and nonassessable;

     

    (iii) will not have been issued or sold
in violation of any preemptive, right of first refusal or other similar rights
of the holders of any securities of the Company; and

     

    (iv) will not result in a violation of
Section 5 under the 1933 Act.

     

    4.           Representations of the
Preferred Stockholders.  Each Preferred Stockholder hereby,
severally and not jointly, represents and warrants to and agrees with the
Company only as to each Preferred Stockholder that:

     

    (a)           The
Preferred Stockholder has the requisite power and authority to enter into and to
consummate the transactions contemplated by this Agreement and otherwise to
carry out its obligations hereunder.  The execution and delivery of
this Agreement by the Preferred Stockholder and the consummation by it of the
transactions contemplated hereby and thereby have been duly authorized by all
necessary action on the part of the Preferred Stockholder and no further action
is required by the Preferred Stockholder in connection herewith.

     

    (b)           The
Preferred Stockholder is an “accredited investor,” as such term is defined in
Regulation D promulgated by the SEC under the 1933 Act, is experienced in
investments and business matters, has made investments of a speculative nature
and has purchased securities of United States publicly owned companies in
private placements in the past and, with its representatives, has such knowledge
and experience in financial, tax and other business matters as to enable the
Preferred Stockholder to utilize the information made available by the Company
to evaluate the merits and risks of and to make an informed investment decision
with respect to the proposed transaction, which represents a speculative
investment.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    (c)           The
Preferred Stockholder owns the Preferred Stock set forth on Schedule A and is
capable of transferring such Preferred Stock in accordance with the terms and
provisions of this Agreement free and clear of any liens and encumbrances of
third parties.

     

    (d)           The
Preferred Stockholder understands and agrees that the shares of Common Stock to
be issued to such Preferred Stockholder in the Exchange have not been registered
under the 1933 Act or any applicable state securities laws, by reason of their
issuance in a transaction that does not require registration under the 1933 Act
(based in part on the accuracy of the representations and warranties of the
Preferred Stockholders contained herein), and that such shares must be held
indefinitely unless a subsequent disposition is registered under the 1933 Act or
any applicable state securities laws or is exempt from such registration
requirements.

     

    (e)  Each certificate
evidencing shares of Common Stock issued hereunder shall bear the following or
similar legend:

     

    “THE
SECURITIES REPRESENTED HEREBY MAY NOT BE TRANSFERRED UNLESS (I) SUCH SECURITIES
HAVE BEEN REGISTERED FOR SALE PURSUANT TO THE SECURITIES ACT OF 1933, AS
AMENDED, OR (II) THE COMPANY HAS RECEIVED AN OPINION OF COUNSEL SATISFACTORY TO
IT THAT SUCH TRANSFER MAY LAWFULLY BE MADE WITHOUT REGISTRATION UNDER THE
SECURITIES ACT OF 1933, AS AMENDED OR QUALIFICATION UNDER APPLICABLE STATE
SECURITIES LAWS.”

     

    5.           Further
Assurances.  Each Party hereto shall do and perform or cause to
be done and performed all such further acts and shall execute and deliver all
such other agreements, certificates, instruments and documents as any other
Party hereto reasonably may request in order to carry out the intent and
accomplish the purposes of this Agreement.

     

    6.           Independent Nature of
Preferred Stockholders Obligations and Rights.  The obligations
of each Preferred Stockholder under this Agreement are several and not joint
with the obligations of any other Preferred Stockholder, and no Preferred
Stockholder shall be responsible in any way for the performance of the
obligations of any other Preferred Stockholder.  The decision of each
Preferred Stockholder to consummate the transactions contemplated herein has
been made by such Preferred Stockholder independently of any other Preferred
Stockholder and independently of any information, materials, statements or
opinions as to the business, affairs, operations, assets, properties,
liabilities, results of operations, condition (financial or otherwise) or
prospects of the Company or any of its subsidiaries which may have been made or
given by any other Preferred Stockholder by any agent or employee of any other
Preferred Stockholder, and no Preferred Stockholder and any of its agents or
employees shall have any liability to any other Preferred Stockholder (or any
other individual or entity) relating to or arising from any such information,
materials, statement or opinions.  Nothing contained herein, and no
action taken by any Preferred Stockholder pursuant thereto, shall be deemed to
constitute the Preferred Stockholders as a partnership, an association, a joint
venture or any other kind of entity, or create a presumption that the Preferred
Stockholders are in any way acting in concert or as a group with respect to such
obligations or the transactions herein.  Each Preferred Stockholder
acknowledges that no other Preferred Stockholder has acted as agent for such
Preferred Stockholder in connection with it entering into this Agreement and
that no Preferred Stockholder will be acting as agent of such Preferred
Stockholder in connection with monitoring its investment in the Common Stock
issuable hereunder or enforcing its rights hereunder.  Each Preferred
Stockholder shall be entitled to independently protect and enforce its rights,
including without limitation the rights arising out of this Agreement, and it
shall not be necessary for any other Preferred Stockholder to be joined as an
additional party in any proceeding for such purpose.  The Company
acknowledges that each Preferred Stockholder has been provided with the same
Agreement for the purpose of closing a transaction with multiple Preferred
Stockholders and not because it was required or requested to do so by any
Preferred Stockholder. The Company’s obligations to each Preferred Stockholder
under this Agreement are identical to its obligations to each other Preferred
Stockholder other than such differences resulting solely from the number of
shares of Preferred Stock to be exchanged for Common Stock by such Preferred
Stockholder, but regardless of whether such obligations are memorialized herein
or in another agreement between the Company and a Preferred
Stockholder.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    7.           Choice of
Law.  This Agreement shall be governed by and construed in
accordance with the laws of the State of New York without regard to conflict of
laws principles that would result in the application of the substantive laws of
another jurisdiction. Any action brought by either Party against the other
concerning the transactions contemplated by this Agreement shall be brought only
in the state courts of New York or in the federal courts located in New York
County. THE PARTIES AND THE INDIVIDUALS EXECUTING THIS AGREEMENT AND OTHER
AGREEMENTS REFERRED TO HEREIN OR DELIVERED IN CONNECTION HEREWITH ON BEHALF OF
THE COMPANY AGREE TO SUBMIT TO THE JURISDICTION OF SUCH COURTS AND WAIVE TRIAL
BY JURY. The prevailing Party in a lawsuit regarding or arising from the terms
and provisions of this Agreement shall be entitled to recover from the other
Party its reasonable attorney's fees and costs. In the event that any provision
of this Agreement or any other agreement delivered in connection herewith is
invalid or unenforceable under any applicable statute or rule of law, then such
provision shall be deemed inoperative to the extent that it may conflict
therewith and shall be deemed modified to conform with such statute or rule of
law. Any such provision which may prove invalid or unenforceable under any law
shall not affect the validity or enforceability of any other provision of any
agreement.

     

    8.           Notices.  Unless
otherwise provided, any notice required or permitted under this Agreement shall
be given in writing and shall be deemed effectively given as hereinafter
described (i) if given by personal delivery, then such notice shall be deemed
given upon such delivery, (ii) if given by facsimile transmission, then such
notice shall be deemed given upon receipt of confirmation of complete
transmittal, (iii) if given by mail, then such notice shall be deemed given upon
the earlier of (A) receipt of such notice by the recipient or (B) three (3)
business days after such notice is deposited in first class mail, postage
prepaid, and (iv) if given by a nationally recognized overnight air courier,
then such notice shall be deemed given one (1) business day after delivery to
such carrier.  All notices shall be addressed to the Party to be
notified at the address as follows, or at such other address as such Party may
designate by ten (10) days’ advance written notice to the other
Party:

     

    If to the Company:

     

    Novelos Therapeutics,
Inc.

    One Gateway Center, Suite
504

    Newton, MA 02458

    Attention:  Chief Executive
Officer

    Fax:  (617)
964-6331

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    With a copy to:

     

    Foley Hoag LLP

    Seaport World Trade Center
West

    155 Seaport Boulevard

    Boston, MA 02210

    Attn:  Paul
Bork

    Fax:  (617)
832-7000

     

    If to any of the Preferred
Stockholders:

     

    To the addresses set forth on the
signature page hereto.

     

    9.           Counterparts.  This
Agreement may be executed in one or more counterparts, each of which shall be
deemed an original and all of which taken together shall constitute one and the
same Agreement.  Counterpart signature pages to this Agreement
transmitted by facsimile transmission, by electronic mail in “portable document
format” (“.pdf”) form, or by any other electronic means intended to preserve the
original graphic and pictorial appearance of a document, will have the same
effect as physical delivery of the paper document bearing an original
signature.

     

    10.         Amendments and
Waivers. This Agreement shall not be amended and the observance of any
term of this Agreement shall not be waived (either generally or in a particular
instance and either retroactively or prospectively) without the prior written
consent of the Company and each of the Preferred Stockholders.  Any
amendment or waiver effected in accordance with this Section 10 shall be
binding upon each Preferred Stockholder and
the Company.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    IN
WITNESS WHEREOF, the undersigned has executed this Exchange Agreement as of the
date first above written.

     

    
      
        
          
            	 
      	
                    NOVELOS
      THERAPEUTICS, INC.

                  	 
	 
      	 
      	 
      	 
	 
      	 
      	 
      	 
	 
      	
                    By:

                  	
                    /s/
      Harry S. Palmin

                  	 
	 
      	
                    Name:

                  	
                    Harry
      S. Palmin

                  	 
	 
      	
                    Title:

                  	
                    President
      and CEO

                  	 

          

        

      

    

    

    

    

    

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
 

    Preferred
Stockholder Signature Page to Exchange Agreement

    

    IN
WITNESS WHEREOF, the undersigned has executed this Exchange Agreement as of the
date first above written.

    

    

    

    
      
        	
                Name
      of Preferred Stockholder:

              	
                Beacon
      Company

              

      

    

    

    
      
        
          
            	
                    By:

                  	
                    Stanhope
      Gate Corp., its managing general
partner

                  

          

        

      

    

    

    Signature
of Authorized

    
      
        	
                Signatory
      of Preferred Stockholder:

              	
                /s/
      Steven A Meiklejohn

              

      

    

    

    
      
        	
                Name
      of Authorized Signatory:

              	
                Steven
      A. Meiklejohn

              

      

    

    

    
      
        	
                Title
      of Authorized Signatory:

              	
                Director

              

      

    

    

    Address
for Notice to Preferred Stockholder:

    

    Beacon
Company

    c/o Ogier
Fiduciary Services

    Ogier
House

    The
Esplanade

    St.
Helier

    Jersey

    JE49WG

    Channel
Islands

    Attention:
Jonathan G. White

    

    

    With
a copy to:

    

    Chadbourne
& Parke LLP

    30
Rockefeller Plaza

    
      
        	
                New
      York, NY 10112

              

      

    

    
      
        	
                USA

              

      

    

    
      
        	
                Telefacsimile
      (212) 541-5369

              

      

    

    
      
        	
                Attention:
      Stuart D. Baker

              

      

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    Preferred
Stockholder Signature Page to Exchange Agreement

    

    IN
WITNESS WHEREOF, the undersigned has executed this Exchange Agreement as of the
date first above written.

    

    

    

    
      
        	
                Name
      of Preferred Stockholder:

              	
                Rosebay
      Medical Company, L.P.

              

      

    

    

    
      
        	
                By:

              	
                Rosebay
      Medical Company, Inc., its general
partner

              

      

    

    

    Signature
of Authorized

    
      
        	
                Signatory
      of Preferred Stockholder:

              	
                /s/
      Stephen A. Ives

              

      

    

    

    
      
        	
                Name
      of Authorized Signatory:

              	
                Stephen
      A. Ives

              

      

    

    

    
      
        	
                Title
      of Authorized Signatory:

              	
                Vice
      President

              

      

    

    

    Address
for Notice to Preferred Stockholder:

    

    Rosebay
Medical Company, L.P.

    c/o North
Bay Associates

    14000
Quail Springs Parkway #2200

    Oklahoma
City, Oklahoma

    Attention:
Stephen A. Ives

    

    

    With
a copy to:

    

    Chadbourne
& Parke LLP

    30
Rockefeller Plaza

    
      
        	
                New
      York, NY 10112

              

      

    

    
      
        	
                USA

              

      

    

    
      
        	
                Telefacsimile
      (212) 541-5369

              

      

    

    
      
        	
                Attention:
      Stuart D. Baker

              

      

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
 

    Preferred
Stockholder Signature Page to Exchange Agreement

    

    IN
WITNESS WHEREOF, the undersigned has executed this Exchange Agreement as of the
date first above written.

    

    

    

    
      
        	
                Name
      of Preferred Stockholder:

              	
                Knoll
      Special Opportunities, Fund II Master Fund
Ltd.

              

      

    

    

    Signature
of Authorized

    
      
        	
                Signatory
      of Preferred Stockholder:

              	
                /s/
      Fred Knoll

              

      

    

    

    
      
        	
                Name
      of Authorized Signatory:

              	
                Fred
      Knoll

              

      

    

    

    
      
        	
                Title
      of Authorized Signatory:

              	
                Investment
      Manager

              

      

    

    

    Address
for Notice to Preferred Stockholder:

    

    c/o KOM
Capital Management LLC

    1114
Avenue of the Americas, 45th
Floor

    New York,
NY 10036

    

    

    With
a copy to (if applicable):

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    Preferred
Stockholder Signature Page to Exchange Agreement

    

    IN
WITNESS WHEREOF, the undersigned has executed this Exchange Agreement as of the
date first above written.

    

    

    

    
      
        	
                Name
      of Preferred Stockholder:

              	
                Europa
      International, Inc.

              

      

    

    

    Signature
of Authorized

    
      
        	
                Signatory
      of Preferred Stockholder:

              	
                /s/
      Fred Knoll

              

      

    

    

    
      
        	
                Name
      of Authorized Signatory:

              	
                Fred
      Knoll

              

      

    

    

    
      
        	
                Title
      of Authorized Signatory:

              	
                Investment
      Manager

              

      

    

    

    Address
for Notice to Preferred Stockholder:

    

    c/o KOM
Capital Management LLC

    1114
Avenue of the Americas, 45th
Floor

    New York,
NY 10036

    

    

    With
a copy to (if applicable):

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
 

    Preferred
Stockholder Signature Page to Exchange Agreement

    

    IN
WITNESS WHEREOF, the undersigned has executed this Exchange Agreement as of the
date first above written.

    

    

    

    
      
        	
                Name
      of Preferred Stockholder:

              	
                Xmark
      Opportunity Fund, Ltd.

              

      

    

    

    Signature
of Authorized

    
      
        	
                Signatory
      of Preferred Stockholder:

              	
                /s/
      Mitchell D. Kaye

              

      

    

    

    
      
        	
                Name
      of Authorized Signatory:

              	
                Mitchell
      D. Kaye

              

      

    

    

    
      
        	
                Title
      of Authorized Signatory:

              	
                Authorized
      Signatory

              

      

    

    

    Address
for Notice to Preferred Stockholder:

    

    c/o Xmark
Opportunity Partners, LLC

    90 Grove
Street, Suite 201

    Ridgefield,
CT 06877

    

    

    With
a copy to (if applicable):

     

    Lowenstein
Sandler PC

    1251
Avenue of the Americas, 18th
Floor

    New York,
NY 10020

    Attention:  Peter
D. Greene, Esq.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
 

    Preferred
Stockholder Signature Page to Exchange Agreement

    

    IN
WITNESS WHEREOF, the undersigned has executed this Exchange Agreement as of the
date first above written.

    

    

    

    
      
        	
                Name
      of Preferred Stockholder:

              	
                Xmark
      Opportunity Fund, L.P.

              

      

    

    

    Signature
of Authorized

    
      
        	
                Signatory
      of Preferred Stockholder:

              	
                /s/
      Mitchell D. Kaye

              

      

    

    

    
      
        	
                Name
      of Authorized Signatory:

              	
                Mitchell
      D. Kaye

              

      

    

    

    
      
        	
                Title
      of Authorized Signatory:

              	
                Authorized
      Signatory

              

      

    

    

    Address
for Notice to Preferred Stockholder:

    

    c/o Xmark
Opportunity Partners, LLC

    90 Grove
Street, Suite 201

    Ridgefield,
CT 06877

    

    

    With
a copy to (if applicable):

    

    Lowenstein
Sandler PC

    1251
Avenue of the Americas, 18th
Floor

    New York,
NY 10020

    Attention:  Peter
D. Greene, Esq.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
 

    Preferred
Stockholder Signature Page to Exchange Agreement

    

    IN
WITNESS WHEREOF, the undersigned has executed this Exchange Agreement as of the
date first above written.

    

    

    

    
      
        	
                Name
      of Preferred Stockholder:

              	
                Xmark
      JV Investment Partners, LLC

              

      

    

    

    Signature
of Authorized

    
      
        	
                Signatory
      of Preferred Stockholder:

              	
                /s/
      Mitchell D. Kaye

              

      

    

    

    
      
        	
                Name
      of Authorized Signatory:

              	
                Mitchell
      D. Kaye

              

      

    

    

    
      
        	
                Title
      of Authorized Signatory:

              	
                Authorized
      Signatory

              

      

    

    

    Address
for Notice to Preferred Stockholder:

    

    c/o Xmark
Opportunity Partners, LLC

    90 Grove
Street, Suite 201

    Ridgefield,
CT 06877

    

    

    With
a copy to (if applicable):

    

    Lowenstein
Sandler PC

    1251
Avenue of the Americas, 18th
Floor

    New York,
NY 10020

    Attention:  Peter
D. Greene, Esq.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
 

     Preferred Stockholder Signature Page
to Exchange Agreement

    

    IN
WITNESS WHEREOF, the undersigned has executed this Exchange Agreement as of the
date first above written.

    

    

    

    
      
        
          
            
              
                
                  
                    
                      
                        	
                                Name
      of Preferred Stockholder:

                              	
                                Caduceus
      Capital Master Fund Limited

                              
	 
      	 
      
	
                                Signature
      of Authorized

                              	 
      
	
                                Signatory
      of Preferred Stockholder:

                              	
                                /s/
      Samuel D. Isaly

                              
	 
      	 
      
	
                                Name
      of Authorized Signatory:

                              	
                                Samuel
      D. Isaly

                              
	 
      	 
      
	
                                Title
      of Authorized Signatory:

                              	
                                Managing
      Member of Orbimed Advisors LLC, solely in its capacity as Investment
      Advisor to Caduceus Capital Master Fund
Limited

                              

                      

                    

                  

                

              

            

          

        

      

    

    

    Address
for Notice to Preferred Stockholder:

    

    c/o
OrbiMed Advisors LLC

    767 Third
Avenue, 30th
Floor

    New York,
NY 10017

    

    

    

    With
a copy to (if applicable):

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
 

    Preferred
Stockholder Signature Page to Exchange Agreement

    

    IN
WITNESS WHEREOF, the undersigned has executed this Exchange Agreement as of the
date first above written.

    

    

    

    
      
        	
                Name
      of Preferred Stockholder:

              	
                Caduceus
      Capital II, L.P.

              
	 
      	 
      
	
                Signature
      of Authorized

              	 
      
	
                Signatory
      of Preferred Stockholder:

              	
                /s/
      Samuel D. Isaly

              
	 
      	 
      
	
                Name
      of Authorized Signatory:

              	
                Samuel
      D. Isaly

              
	 
      	 
      
	
                Title
      of Authorized Signatory:

              	
                Managing
      Member of Orbimed Advisors LLC, solely in its capacity as General Partner
      of Caduceus Capital II, L.P.

              

      

    

    

    Address
for Notice to Preferred Stockholder:

    

    c/o
OrbiMed Advisors LLC

    767 Third
Avenue, 30th
Floor

    New York,
NY 10017

    

    

    

    With
a copy to (if applicable):

     

    
 

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    Preferred
Stockholder Signature Page to Exchange Agreement

    

    IN
WITNESS WHEREOF, the undersigned has executed this Exchange Agreement as of the
date first above written.

    

    

    

    
      
        	
                Name
      of Preferred Stockholder:

              	
                Summer
      Street Life Sciences Hedge Fund Investors LLC

              
	 
      	 
      
	
                Signature
      of Authorized

              	 
      
	
                Signatory
      of Preferred Stockholder:

              	
                /s/
      Samuel D. Isaly

              
	 
      	 
      
	
                Name
      of Authorized Signatory:

              	
                Samuel
      D. Isaly

              
	 
      	 
      
	
                Title
      of Authorized Signatory:

              	
                Managing
      Member of Orbimed Advisors LLC, solely in its capacity as Investment
      Manager of Summer Street Life Sciences Hedge Fund Investors
      LLC

              

      

    

    

    Address
for Notice to Preferred Stockholder:

    

    c/o
OrbiMed Advisors LLC

    767 Third
Avenue, 30th
Floor

    New York,
NY 10017

    

    

    With
a copy to (if applicable):

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    Preferred
Stockholder Signature Page to Exchange Agreement

    

    IN
WITNESS WHEREOF, the undersigned has executed this Exchange Agreement as of the
date first above written.

    

    

    

    
      
        
          
            
              
                
                  
                    	
                            Name
      of Preferred Stockholder:

                          	
                            UBS
      Eucalyptus Fund, L.L.C.

                          
	 
      	 
      
	
                            Signature
      of Authorized

                          	 
      
	
                            Signatory
      of Preferred Stockholder:

                          	
                            /s/
      Samuel D. Isaly

                          
	 
      	 
      
	
                            Name
      of Authorized Signatory:

                          	
                            Samuel
      D. Isaly

                          
	 
      	 
      
	
                            Title
      of Authorized Signatory:

                          	
                            Managing
      Member of Orbimed Advisors LLC, solely as member of UBS Eucalyptus
      Management, L.L.C., as investment adviser to UBS Eucalyptus Fund,
      L.L.C.

                          

                  

                

              

            

          

        

      

    

    

    Address
for Notice to Preferred Stockholder:

    

    c/o
OrbiMed Advisors LLC

    767 Third
Avenue, 30th
Floor

    New York,
NY 10017

    

    

    With
a copy to (if applicable):

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    Preferred
Stockholder Signature Page to Exchange Agreement

    

    IN
WITNESS WHEREOF, the undersigned has executed this Exchange Agreement as of the
date first above written.

    

    

    

    
      
        	
                Name
      of Preferred Stockholder:

              	
                PW
      Eucalyptus Fund, Ltd.

              
	 
      	 
      
	
                Signature
      of Authorized

              	 
      
	
                Signatory
      of Preferred Stockholder:

              	
                /s/
      Samuel D. Isaly

              
	 
      	 
      
	
                Name
      of Authorized Signatory:

              	
                Samuel
      D. Isaly

              
	 
      	 
      
	
                Title
      of Authorized Signatory:

              	
                Managing
      Member of Orbimed Advisors LLC, solely as member of UBS Eucalyptus
      Management, L.L.C., as investment adviser to PW Eucalyptus Fund,
      Ltd.

              

      

    

    

    Address
for Notice to Preferred Stockholder:

    

    c/o
OrbiMed Advisors LLC

    767 Third
Avenue, 30th
Floor

    New York,
NY 10017

    

    

    

    With
a copy to (if applicable):

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
 

    Preferred
Stockholder Signature Page to Exchange Agreement

    

    IN
WITNESS WHEREOF, the undersigned has executed this Exchange Agreement as of the
date first above written.

    

    

    

    
      	
              Name
      of Preferred Stockholder:

            	
              Longview
      Fund, LP, Longview Equity Fund, LP, Longview International Equity Fund,
      LP

            

    

    

    Signature
of Authorized

    
      
        	
                Signatory
      of Preferred Stockholder:

              	
                /s/
      S. Michael Rudolph

              

      

    

    

    
      	
              Name
      of Authorized Signatory:

            	
              S.
      Michael Rudolph

            
	 
      	 
      
	
              Title
      of Authorized Signatory:

            	
              CFO,
      Viking Asset Management, as Investment
Advisor

            

    

    

    Address
for Notice to Preferred Stockholder:

    

    505
Sansome Street, Suite 1275

    San
Francisco, CA 94111

    

    

    With
a copy to (if applicable):

    

     

    
 

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    Schedule
A

    

    Preferred
Stock Exchanged for Common Stock

    

    
      
        
          
            
              
                
                  
                    
                      
                        
                          
                            
                              
                                
                                  
                                    
                                      
                                        
                                          
                                            
                                              
                                                
                                                  
                                                    
                                                      
                                                        
                                                          
                                                            
                                                              
                                                                
                                                                  
                                                                    
                                                                      
                                                                        
                                                                          
                                                                            
                                                                              
                                                                                
                                                                                  
                                                                                    
                                                                                      
                                                                                        
                                                                                          
                                                                                            
                                                                                              
                                                                                                
                                                                                                  	 
      	 	
                                                                                                          Shares of
      Preferred

                                                                                                        	 	 	
                                                                                                          Shares of
      Common

                                                                                                        	 
	
                                                                                                          Holder of
      Series E Preferred Stock 

                                                                                                        	 	
                                                                                                          Stock
      Exchanged

                                                                                                        	 	 	
                                                                                                          Stock
      Received

                                                                                                        	 
	 	 	 	 	 	 	 	 	 
	
                                                                                                          Beacon
      Company 

                                                                                                        	 	 	100.0	 	 	 	78,309,693	 
	
                                                                                                          Rosebay Medical Company
      L.P. 

                                                                                                        	 	 	100.0	 	 	 	78,309,693	 
	 	 	 	 	 	 	 	 	 
	
                                                                                                          Total
      Purdue Pharma L.P. 

                                                                                                        	 	 	200.0	 	 	 	156,619,386	 
	 	 	 	 	 	 	 	 	 
	
                                                                                                          Knoll Special Opportunities Fund
      II Master Fund, Ltd. 

                                                                                                        	 	 	53.64705	 	 	 	36,620,770	 
	
                                                                                                          Europa International,
      Inc. 

                                                                                                        	 	 	66.57405	 	 	 	45,445,052	 
	 	 	 	 	 	 	 	 	 
	
                                                                                                          Total
      Knoll funds 

                                                                                                        	 	 	120.2211	 	 	 	82,065,822	 
	 	 	 	 	 	 	 	 	 
	
                                                                                                          Xmark Opportunity Fund,
      Ltd. 

                                                                                                        	 	 	21.5547	 	 	 	14,713,758	 
	
                                                                                                          Xmark Opportunity Fund,
      L.P. 

                                                                                                        	 	 	11.10665	 	 	 	7,581,667	 
	
                                                                                                          Xmark JV Investment Partners,
      LLC 

                                                                                                        	 	 	14.81665	 	 	 	10,114,203	 
	 	 	 	 	 	 	 	 	 
	
                                                                                                          Total
      Xmark funds 

                                                                                                        	 	 	47.478	 	 	 	32,409,628	 
	 	 	 	 	 	 	 	 	 
	
                                                                                                          Caduceus Capital Master Fund
      Limited 

                                                                                                        	 	 	15.166943	 	 	 	10,353,321	 
	
                                                                                                          Caduceus Capital II,
      L.P. 

                                                                                                        	 	 	9.2215	 	 	 	6,294,818	 
	
                                                                                                          Summer Street Life Sciences Hedge
      Fund Investors LLC 

                                                                                                        	 	 	5.671235	 	 	 	3,871,322	 
	
                                                                                                          UBS Eucalyptus Fund,
      L.L.C. 

                                                                                                        	 	 	9.733066	 	 	 	6,644,026	 
	
                                                                                                          PW Eucalyptus Fund,
      Ltd. 

                                                                                                        	 	 	0.772201	 	 	 	527,123	 
	 	 	 	 	 	 	 	 	 
	
                                                                                                          Total
      Orbimed funds 

                                                                                                        	 	 	40.564945	 	 	 	27,690,610	 
	 	 	 	 	 	 	 	 	 
	
                                                                                                          Subtotal
      Series E 

                                                                                                        	 	 	408.264045	 	 	 	298,785,446	 
	 	 	 	 	 	 	 	 	 
	
                                                                                                          Holder of
      Series C Preferred Stock 

                                                                                                        	 	 	 	 	 	 	 	 
	
                                                                                                           

                                                                                                        	 	 	 	 	 	 	 	 
	
                                                                                                          Longview Fund
      LP 

                                                                                                        	 	 	119.00	 	 	 	24,587,707	 
	
                                                                                                          Longview Equity Fund
      LP 

                                                                                                        	 	 	55.25	 	 	 	11,415,721	 
	
                                                                                                          Longview Int'l Equity Fund
      LP 

                                                                                                        	 	 	29.75	 	 	 	6,146,927	 
	 	 	 	 	 	 	 	 	 
	
                                                                                                          Subtotal
      Series C 

                                                                                                        	 	 	204.00	 	 	 	42,150,355	 
	 	 
	
                                                                                                          GRAND TOTAL
      COMMON SHARES 

                                                                                                        	 	 	 	 	 	 	340,935,801

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00181-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00181-of-00352.parquet"}]]