Document:

Exhibit 10.10

                      INVESTMENT MANAGEMENT TRUST AGREEMENT

            This Agreement is made as of ___________,  2004 by and between China
Unistone Acquisition  Corporation (the "Company") and Continental Stock Transfer
& Trust Company ("Trustee").

            WHEREAS,  the  Company's  Registration  Statement  on Form S-1,  No.
333-______  ("Registration  Statement"),  for its  initial  public  offering  of
securities  ("IPO")  has been  declared  effective  as of the date hereof by the
Securities and Exchange Commission ("Effective Date"); and

            WHEREAS,   EarlyBirdCapital,   Inc.   ("EBC")   is   acting  as  the
representative of the underwriters in the IPO; and

            WHEREAS, as described in the Company's Registration  Statement,  and
in accordance with the Company's  Certificate of  Incorporation,  $15,300,000 of
the gross proceeds of the IPO  ($17,595,000 if the  underwriters  over-allotment
option is  exercised  in full) will be  delivered to the Trustee to be deposited
and held in a trust  account  for the  benefit of the Company and the holders of
the Company's common stock,  par value $.0001 per share,  issued in the IPO (the
amount  to be  delivered  to the  Trustee  will be  referred  to  herein  as the
"Property";  the  stockholders  for whose  benefit  the  Trustee  shall hold the
Property  will be  referred  to as the  "Public  Stockholders,"  and the  Public
Stockholders   and  the   Company   will  be   referred   to   together  as  the
"Beneficiaries"); and

            WHEREAS,  the  Company  and the  Trustee  desire to enter  into this
Agreement  to set forth the terms and  conditions  pursuant to which the Trustee
shall hold the Property;

            IT IS AGREED:

1. Agreements and Covenants of Trustee.  The Trustee hereby agrees and covenants
to:

            (a) Hold the Property in trust for the  Beneficiaries  in accordance
with the terms of this Agreement in a segregated trust account ("Trust Account")
established by the Trustee at a branch of JPMorgan Chase NY Bank selected by the
Trustee;

            (b) Manage,  supervise and administer  the Trust Account  subject to
the terms and conditions set forth herein;

            (c) In a timely  manner,  upon the  instruction  of the Company,  to
invest and reinvest the Property in any  "Government  Security." As used herein,
Government Security means any Treasury Bill issued by the United States,  having
a maturity of one hundred and eighty days or less;

            (d) Collect and receive,  when due, all principal and income arising
from the Property,  which shall become part of the  "Property,"  as such term is
used herein;

            (e) Notify the  Company of all  communications  received  by it with
respect to

<PAGE>

any Property requiring action by the Company;

            (f)  Supply  any  necessary  information  or  documents  as  may  be
requested by the Company in connection with the Company's preparation of the tax
returns for the Trust Account;

            (g)  Participate  in  any  plan  or  proceeding  for  protecting  or
enforcing  any  right or  interest  arising  from the  Property  if, as and when
instructed by the Company to do so;

            (h) Render to the  Company and to EBC,  and to such other  person as
the Company may instruct,  monthly  written  statements of the activities of and
amounts in the Trust Account  reflecting all receipts and  disbursements  of the
Trust Account; and

            (i) Commence  liquidation of the Trust Account only after receipt of
and only in accordance with the terms of a letter ("Termination  Letter"),  in a
form  substantially  similar  to that  attached  hereto as  either  Exhibit A or
Exhibit B, signed on behalf of the Company by its  President  or Chairman of the
Board and  Secretary,  and complete  the  liquidation  of the Trust  Account and
distribute the Property in the Trust Account only as directed in the Termination
Letter and the other documents referred to therein.

2.  Agreements  and  Covenants of the  Company.  The Company  hereby  agrees and
covenants to:

            (a) Give all  instructions  to the  Trustee  hereunder  in  writing,
signed by the Company's President or Chairman of the Board. In addition,  except
with  respect to its duties under  paragraph  1(i) above,  the Trustee  shall be
entitled  to rely on,  and shall be  protected  in  relying  on,  any  verbal or
telephonic  advice or instruction which it in good faith believes to be given by
any one of the persons authorized above to give written  instructions,  provided
that the Company shall promptly confirm such instructions in writing;

            (b) Hold the Trustee  harmless  and  indemnify  the Trustee from and
against,   any  and  all  expenses,   including   reasonable  counsel  fees  and
disbursements,  or loss suffered by the Trustee in  connection  with any action,
suit or other proceeding  brought against the Trustee involving any claim, or in
connection with any claim or demand which in any way arises out of or relates to
this Agreement,  the services of the Trustee  hereunder,  or the Property or any
income earned from  investment  of the Property,  except for expenses and losses
resulting from the Trustee's gross  negligence or willful  misconduct.  Promptly
after  the  receipt  by  the  Trustee  of  notice  of  demand  or  claim  or the
commencement  of any action,  suit or proceeding,  pursuant to which the Trustee
intends  to seek  indemnification  under  this  paragraph,  it shall  notify the
Company in writing of such claim  (hereinafter  referred to as the  "Indemnified
Claim").  The  Trustee  shall have the right to conduct  and manage the  defense
against such  Indemnified  Claim,  provided,  that the Trustee  shall obtain the
consent of the Company with respect to the  selection of counsel,  which consent
shall not be unreasonably  withheld.  The Company may participate in such action
with its own counsel; and

            (c) Pay the  Trustee  an  initial  acceptance  fee of $1,000  and an
annual fee of

                                       2
<PAGE>

$3,000 (it being expressly understood that the Property shall not be used to pay
such fee).  The Company  shall pay the Trustee  the initial  acceptance  fee and
first  year's  fee  at  the  consummation  of  the  IPO  and  thereafter  on the
anniversary  of the Effective  Date. The Trustee shall refund to the Company the
fee (on a pro rata basis) with  respect to any period after the  liquidation  of
the Trust  Fund.  The  Company  shall not be  responsible  for any other fees or
charges of the Trustee  except as may be provided in  paragraph  2(b) hereof (it
being  expressly  understood  that the  Property  shall  not be used to make any
payments to the Trustee under such paragraph).

3.  Limitations  of  Liability.  The  Trustee  shall have no  responsibility  or
liability to:

            (a) Take any  action  with  respect to the  Property,  other than as
directed in  paragraph 1 hereof and the Trustee  shall have no  liability to any
party except for  liability  arising out of its own gross  negligence or willful
misconduct;

            (b) Institute any proceeding for the collection of any principal and
income  arising from, or  institute,  appear in or defend any  proceeding of any
kind with  respect  to,  any of the  Property  unless  and  until it shall  have
received instructions from the Company given as provided herein to do so and the
Company  shall have  advanced or  guaranteed  to it funds  sufficient to pay any
expenses incident thereto;

            (c) Change the investment of any Property,  other than in compliance
with paragraph 1(c);

            (d) Refund any depreciation in principal of any Property;

            (e)  Assume  that the  authority  of any  person  designated  by the
Company to give  instructions  hereunder shall not be continuing unless provided
otherwise  in such  designation,  or unless the Company  shall have  delivered a
written revocation of such authority to the Trustee;

            (f) The other parties  hereto or to anyone else for any action taken
or omitted by it, or any action  suffered by it to be taken or omitted,  in good
faith  and in the  exercise  of its own  best  judgment,  except  for its  gross
negligence or willful misconduct. The Trustee may rely conclusively and shall be
protected  in acting upon any order,  notice,  demand,  certificate,  opinion or
advice  of  counsel  (including  counsel  chosen  by  the  Trustee),  statement,
instrument,  report or other paper or document (not only as to its due execution
and the validity and  effectiveness of its provisions,  but also as to the truth
and acceptability of any information therein contained) which is believed by the
Trustee,  in good  faith,  to be genuine  and to be signed or  presented  by the
proper  person or  persons.  The  Trustee  shall  not be bound by any  notice or
demand, or any waiver, modification, termination or rescission of this agreement
or any of the terms hereof,  unless evidenced by a written instrument  delivered
to the  Trustee  signed by the  proper  party or parties  and,  if the duties or
rights of the  Trustee  are  affected,  unless it shall  give its prior  written
consent thereto;

            (g)  Verify  the  correctness  of the  information  set forth in the
Registration  Statement or to confirm or assure that any acquisition made by the
Company or any other action taken by it is as contemplated  by the  Registration
Statement; and

                                       3
<PAGE>

            (h) Pay any taxes on behalf of the Trust Account (it being expressly
understood  that the  Property  shall not be used to pay any such taxes and that
such  taxes,  if any,  shall be paid by the  Company  from funds not held in the
Trust Account).

4. Termination. This Agreement shall terminate as follows:

            (a) If the  Trustee  gives  written  notice to the  Company  that it
desires to resign under this  Agreement,  the Company  shall use its  reasonable
efforts to locate a successor  trustee.  At such time that the Company  notifies
the Trustee that a successor  trustee has been  appointed by the Company and has
agreed to become  subject  to the terms of this  Agreement,  the  Trustee  shall
transfer the management of the Trust Account to the successor trustee, including
but not limited to the transfer of copies of the reports and statements relating
to the Trust  Account,  whereupon  this  Agreement  shall  terminate;  provided,
however, that, in the event that the Company does not locate a successor trustee
within ninety days of receipt of the  resignation  notice from the Trustee,  the
Trustee may submit an application to have the Property deposited with the United
States  District  Court  for the  Southern  District  of New York and upon  such
deposit, the Trustee shall be immune from any liability whatsoever;

            (b) At such time that the Trustee has completed the  liquidation  of
the Trust Account in accordance  with the  provisions of paragraph  1(i) hereof,
and   distributed  the  Property  in  accordance  with  the  provisions  of  the
Termination  Letter,  this  Agreement  shall  terminate  except with  respect to
Paragraph 2(b); or

            (c) On such date after ____________,  2006 when the Trustee deposits
the Property with the United States District Court for the Southern  District of
New York in the event that,  prior to such date,  the Trustee has not received a
Termination Letter from the Company pursuant to paragraph 1(i).

5. Miscellaneous.

            (a) The Company and the Trustee  each  acknowledge  that the Trustee
will  follow the  security  procedures  set forth  below  with  respect to funds
transferred from the Trust Account.  Upon receipt of written  instructions,  the
Trustee will confirm  such  instructions  with an  Authorized  Individual  at an
Authorized  Telephone  Number listed on the attached  Exhibit C. The Company and
the Trustee will each restrict  access to confidential  information  relating to
such security procedures to authorized persons. Each party must notify the other
party  immediately  if it has reason to believe  unauthorized  persons  may have
obtained  access  to  such  information,  or of any  change  in  its  authorized
personnel.  In  executing  funds  transfers,  the Trustee will rely upon account
numbers or other  identifying  numbers of a beneficiary,  beneficiary's  bank or
intermediary  bank,  rather than names.  The Trustee shall not be liable for any
loss,  liability  or expense  resulting  from any error in an account  number or
other  identifying  number,  provided it has accurately  transmitted the numbers
provided.

            (b) This  Agreement  shall be governed by and construed and enforced
in

                                       4
<PAGE>

accordance  with the laws of the State of New  York,  without  giving  effect to
conflict of laws. It may be executed in several counterparts,  each one of which
shall constitute an original, and together shall constitute but one instrument.

            (c) This Agreement  contains the entire agreement and  understanding
of the parties hereto with respect to the subject matter hereof.  This Agreement
or any  provision  hereof may only be changed,  amended or modified by a writing
signed by each of the parties hereto;  provided,  however,  that no such change,
amendment or modification  may be made without the prior written consent of EBC.
As to any  claim,  cross-claim  or  counterclaim  in any  way  relating  to this
Agreement, each party waives the right to trial by jury.

            (d) The parties hereto consent to the  jurisdiction and venue of any
state or federal court located in the City of New York for purposes of resolving
any disputes hereunder.

            (e) Any notice,  consent or request to be given in  connection  with
any of the terms or provisions of this  Agreement  shall be in writing and shall
be sent by express mail or similar  private courier  service,  by certified mail
(return receipt requested), by hand delivery or by facsimile transmission:

            if to the Trustee, to:

                Continental Stock Transfer
                  & Trust Company
                17 Battery Place
                New York, New York 10004
                Attn:    Steven G. Nelson
                Fax No.:  (212) 509-5150

            if to the Company, to:

                China Unistone Acquisition Corporation
                4 Columbus Circle, 5th Floor
                New York, New York 10019
                Attn:    James Z. Li, CEO and Secretary
                Fax No.:

            in either case with a copy to:

                EarlyBirdCapital, Inc.
                600 Third Avenue, 33rd Floor
                New York, New York 10016
                Attn:    David M. Nussbaum, Chairman
                Fax No.:  (212) 269-3796

            (f) This  Agreement  may not be assigned by the Trustee  without the
prior

                                       5
<PAGE>

consent of the Company.

            (g) Each of the Trustee and the Company  hereby  represents  that it
has the full  right and power and has been duly  authorized  to enter  into this
Agreement and to perform its respective  obligations as contemplated  hereunder.
The Trustee acknowledges and agrees that it shall not make any claims or proceed
against  the  Trust  Account,  including  by way of  set-off,  and  shall not be
entitled to any funds in the Trust Account under any circumstance.

                                       6
<PAGE>

            IN WITNESS  WHEREOF,  the parties have duly executed this Investment
Management Trust Agreement as of the date first written above.

                                CONTINENTAL STOCK TRANSFER & TRUST COMPANY,
                                as Trustee

                                By: ____________________________
                                     Name:
                                     Title:

                                CHINA UNISTONE ACQUISITION CORPORATION

                                By: ____________________________
                                    Name: James Z. Li
                                    Title: Chief Executive Officer and Secretary

                                       7
<PAGE>

                                                                       EXHIBIT A

                             [Letterhead of Company]

                                       [Insert date]

Continental Stock Transfer
  & Trust Company
17 Battery Place
New York, New York 10004
Attn:  Steven Nelson

      Re:   Trust Account No. ----------------- Termination Letter

Gentlemen:

            Pursuant  to  paragraph  1(i)  of the  Investment  Management  Trust
Agreement  between  China  Unistone  Acquisition   Corporation  ("Company")  and
Continental Stock Transfer & Trust Company ("Trustee"), dated as of ___________,
2004  ("Trust  Agreement"),  this is to advise you that the  Company has entered
into  an  agreement  ("Business  Agreement")  with  __________________  ("Target
Business") to consummate a business  combination with Target Business ("Business
Combination")  on or about [insert date].  The Company shall notify you at least
48 hours in advance  of the  actual  date of the  consummation  of the  Business
Combination ("Consummation Date").

            In  accordance  with the  terms of the  Trust  Agreement,  we hereby
authorize you to commence  liquidation  of the Trust Account to the effect that,
on the  Consummation  Date,  all of  funds  held in the  Trust  Account  will be
immediately  available  for transfer to the account or accounts that the Company
shall direct on the Consummation Date.

            On the  Consummation  Date (i) counsel for the Company shall deliver
to you written  notification that the Business Combination has been consummated,
and (ii) the Company shall deliver to you written  instructions  with respect to
the transfer of the funds held in the Trust Account ("Instruction  Letter"). You
are hereby  directed  and  authorized  to  transfer  the funds held in the Trust
Account   immediately  upon  your  receipt  of  the  counsel's  letter  and  the
Instruction  Letter, in accordance with the terms of the Instruction  Letter. In
the event that certain  deposits held in the Trust Account may not be liquidated
by the  Consummation  Date without  penalty,  you will notify the Company of the
same and the Company  shall direct you as to whether such funds should remain in
the Trust Account and distributed  after the  Consummation  Date to the Company.
Upon the  distribution  of all the funds in the Trust  Account  pursuant  to the
terms hereof, the Trust Agreement shall be terminated.

            In the event that the Business Combination is not consummated on the
Consummation  Date  described in the notice thereof and we have not notified you
on or before the original Consummation Date of a new Consummation Date, then the
funds held in the Trust  Account  shall be  reinvested  as provided in the Trust
Agreement on the business day immediately following the Consummation Date as set
forth in the notice.

                                       8
<PAGE>

                                        Very truly yours,

                                        CHINA UNISTONE ACQUISITION CORPORATION

                                        By:________________________________
                                             Chih T. Cheung, Chairman

                                        By:________________________________
                                             James Preissler, Secretary

                                       9
<PAGE>

                                                                       EXHIBIT B

                            [Letterhead of Company]

                                      [Insert date]

Continental Stock Transfer
  & Trust Company
17 Battery Place
New York, New York 10004
Attn:

      Re:   Trust Account No. ----------------- Termination Letter

Gentlemen:

            Pursuant  to  paragraph  1(i)  of the  Investment  Management  Trust
Agreement  between  China  Unistone  Acquisition   Corporation  ("Company")  and
Continental Stock Transfer & Trust Company ("Trustee"), dated as of ___________,
2004 ("Trust  Agreement"),  this is to advise you that the Board of Directors of
the Company has voted to dissolve and liquidate the Company.  Attached hereto is
a copy of the  minutes of the meeting of the Board of  Directors  of the Company
relating thereto,  certified by the Secretary of the Company as true and correct
and in full force and effect.

            In  accordance  with the  terms of the  Trust  Agreement,  we hereby
authorize you, to commence liquidation of the Trust Account. You will notify the
Company and JPMorgan Chase NY Bank ("Designated  Paying Agent") in writing as to
when all of the funds in the  Trust  Account  will be  available  for  immediate
transfer  ("Transfer Date"). The Designated Paying Agent shall thereafter notify
you as to the account or accounts of the Designated  Paying Agent that the funds
in the Trust Account  should be  transferred to on the Transfer Date so that the
Designated  Paying Agent may commence  distribution  of such funds in accordance
with the  Company's  instructions.  You shall have no  obligation to oversee the
Designated  Paying Agent's  distribution  of the funds.  Upon the payment to the
Designated  Paying  Agent  of all the  funds in the  Trust  Account,  the  Trust
Agreement shall be terminated.

                                       Very truly yours,

                                       CHINA UNISTONE ACQUISITION CORPORATION

                                       By:________________________________
                                            Chih T. Cheung, Chairman

                                       By:________________________________
                                           James Preissler, Secretary

                                       10
<PAGE>

                                    EXHIBIT C

AUTHORIZED INDIVIDUAL(S)                    AUTHORIZED
FOR TELEPHONE CALL BACK                     TELEPHONE NUMBER(S)
-----------------------                     -------------------

Company:

China Unistone Acquisition Corporation
4 Columbus Circle
5th Floor
New York, New York 10019
Attn:  Chih T. Cheung, Chairman              (212) ___-____

Trustee:

Continental Stock Transfer
  & Trust Company
17 Battery Place
New York, New York 10004
Attn:  Steven G. Nelson, Chairman            (212) 845-3200

                                       11Exhibit 10.11

                             STOCK ESCROW AGREEMENT

            STOCK   ESCROW   AGREEMENT,   dated   as   of   ____________,   2004
("Agreement"),  by and among CHINA UNISTONE ACQUISITION CORPORATION,  a Delaware
corporation  ("Company"),  CHIH T. CHEUNG,  JAMES Z. LI, DR. JIAN GAO,  JAMES T.
MAUCK,  JAMES PREISSLER,  RAYMOND CHANG,  VINCENT LIN, PETER F. TUFO and PERFECT
BLAZON CO., LTD.  (collectively  "Initial  Stockholders")  and CONTINENTAL STOCK
TRANSFER & TRUST COMPANY, a New York corporation ("Escrow Agent").

            WHEREAS,   the  Company   intends  to  enter  into  an  Underwriting
Agreement, dated ____, 2004 ("Underwriting  Agreement"),  with EarlyBirdCapital,
Inc. ("EBC") acting as representative of the several underwriters (collectively,
the  "Underwriters"),  pursuant to which, among other matters,  the Underwriters
will agree to purchase 3,000,000 units ("Units") of the Company.  Each Unit will
consist of one share of the Company's  Common Stock, par value $.0001 per share,
and two  Warrants,  each Warrant to purchase one share of Common  Stock,  all as
more fully described in the Company's  final  Prospectus,  dated ________,  2004
("Prospectus")  comprising part of the Company's  Registration Statement on Form
S-1 (File  No.  333-________)  under  the  Securities  Act of 1933,  as  amended
("Registration  Statement"),  declared effective on __________, 2004 ("Effective
Date").

            WHEREAS,  the Initial Stockholders have agreed as a condition of the
sale of the Units to deposit their shares of Common Stock of the Company, as set
forth opposite their respective names in Exhibit A attached hereto (collectively
"Escrow Shares"), in escrow as hereinafter provided.

            WHEREAS,  the Company and the Initial  Stockholders  desire that the
Escrow Agent accept the Escrow  Shares,  in escrow,  to be held and disbursed as
hereinafter provided.

            IT IS AGREED:

      1. Appointment of Escrow Agent.  The Company and the Initial  Stockholders
hereby  appoint the Escrow  Agent to act in  accordance  with and subject to the
terms of this Agreement and the Escrow Agent hereby accepts such appointment and
agrees to act in accordance with and subject to such terms.

      2. Deposit of Escrow Shares.  On or before the Effective Date, each of the
Initial Stockholders shall deliver to the Escrow Agent certificates representing
his respective  Escrow Shares, to be held and disbursed subject to the terms and
conditions of this Agreement.  Each Initial  Stockholder  acknowledges  that the
certificate representing his Escrow Shares is legended to reflect the deposit of
such Escrow Shares under this Agreement.

      3.  Disbursement  of the Escrow  Shares.  The Escrow  Agent shall hold the
Escrow  Shares  until the  third  anniversary  of the  Effective  Date  ("Escrow
Period"),  on which date it shall,  upon written  instructions from each Initial
Stockholder,  disburse each of the Initial  Stockholder's  Escrow Shares to such
Initial Stockholder;  provided, however, that if the Escrow Agent is notified by
the Company  pursuant to Section 6.7 hereof that the Company is being liquidated
at any time  during the Escrow  Period,  then the Escrow  Agent  shall  promptly
destroy the certificates  representing the Escrow Shares and;  provided further,
that if, after the Company  consummates a Business  Combination (as such term is
defined  in  the  Registration   Statement),   it  (or  the  surviving   entity)
subsequently consummates a liquidation,  merger, stock exchange or other similar
transaction  which results in all of the  stockholders of such entity having the
right to exchange  their  shares of Common Stock for cash,  securities  or other
property, then the Escrow Agent will, upon receipt of a certificate, executed by
the Chief Executive Officer or Chief Financial  Officer of the Company,  in form
reasonably  acceptable to the Escrow Agent,  that such transaction is then being
consummated,  and release the Escrow  Shares to the  Initial  Stockholders  upon
consummation  of the  transaction  so that they can similarly  participate.  The
Escrow Agent shall have no further duties  hereunder  after the  disbursement or
destruction of the Escrow Shares in accordance with this Section 3.
<PAGE>

      4. Rights of Initial Stockholders in Escrow Shares.

            4.1  Voting  Rights as a  Stockholder.  Subject  to the terms of the
Insider  Letter  described in Section 4.4 hereof and except as herein  provided,
the Initial Stockholders shall retain all of their rights as stockholders of the
Company during the Escrow Period,  including,  without limitation,  the right to
vote such shares.

            4.2  Dividends  and Other  Distributions  in  Respect  of the Escrow
Shares.  During the Escrow Period, all dividends payable in cash with respect to
the Escrow Shares shall be paid to the Initial  Stockholders,  but all dividends
payable in stock or other  non-cash  property  ("Non-Cash  Dividends")  shall be
delivered to the Escrow Agent to hold in accordance  with the terms  hereof.  As
used herein,  the term "Escrow  Shares"  shall be deemed to include the Non-Cash
Dividends distributed thereon, if any.

            4.3  Restrictions  on Transfer.  During the Escrow Period,  no sale,
transfer  or other  disposition  may be made of any or all of the Escrow  Shares
except (i) by gift to a member of Initial Stockholder's immediate family or to a
trust,  the  beneficiary  of which is an Initial  Stockholder  or a member of an
Initial  Stockholder's  immediate family,  (ii) by virtue of the laws of descent
and distribution upon death of any Initial  Stockholder,  or (iii) pursuant to a
qualified  domestic  relations order;  provided,  however,  that such permissive
transfers  may be  implemented  only upon the  respective  transferee's  written
agreement to be bound by the terms and  conditions of this  Agreement and of the
Insider Letter signed by the Initial Stockholder transferring the Escrow Shares.
During the Escrow Period,  the Initial  Stockholders shall not pledge or grant a
security  interest  in the Escrow  Shares or grant a security  interest in their
rights under this Agreement.

            4.4 Insider Letters. Each of the Initial Stockholders has executed a
letter  agreement  with EBC and the  Company,  dated as  indicated  on Exhibit A
hereto, and which is filed as an exhibit to the Registration Statement ("Insider
Letter"),  respecting the rights and obligations of such Initial  Stockholder in
certain events, including but not limited to the liquidation of the Company.

      5. Concerning the Escrow Agent.

            5.1 Good Faith  Reliance.  The Escrow  Agent shall not be liable for
any action  taken or omitted by it in good faith and in the  exercise of its own
best judgment,  and may rely  conclusively and shall be protected in acting upon
any order, notice, demand, certificate,  opinion or advice of counsel (including
counsel  chosen by the Escrow  Agent),  statement,  instrument,  report or other
paper  or  document  (not  only as to its due  execution  and the  validity  and
effectiveness of its provisions,  but also as to the truth and  acceptability of
any information  therein  contained) which is believed by the Escrow Agent to be
genuine  and to be signed or  presented  by the proper  person or  persons.  The
Escrow  Agent  shall  not be bound  by any  notice  or  demand,  or any  waiver,
modification,  termination or rescission of this Agreement unless evidenced by a
writing delivered to the Escrow Agent signed by the proper party or parties and,
if the duties or rights of the Escrow Agent are  affected,  unless it shall have
given its prior written consent thereto.

            5.2 Indemnification.  The Escrow Agent shall be indemnified and held
harmless by the Company from and against any  expenses,  including  counsel fees
and  disbursements,  or loss suffered by the Escrow Agent in connection with any
action, suit or other proceeding  involving any claim which in any way, directly
or indirectly,  arises out of or relates to this Agreement,  the services of the
Escrow Agent  hereunder,  or the Escrow Shares held by it hereunder,  other than
expenses or losses  arising from the gross  negligence or willful  misconduct of
the Escrow  Agent.  Promptly  after the receipt by the Escrow Agent of notice of
any demand or claim or the commencement of any action,  suit or proceeding,  the
Escrow Agent shall notify the other parties  hereto in writing.  In the event of
the  receipt of such  notice,  the Escrow  Agent,  in its sole  discretion,  may
commence  an action in the nature of  interpleader  in an  appropriate  court to

                                        2
<PAGE>

determine  ownership or  disposition  of the Escrow Shares or it may deposit the
Escrow  Shares  with the clerk of any  appropriate  court or it may  retain  the
Escrow Shares pending receipt of a final, non-appealable order of a court having
jurisdiction  over all of the parties  hereto  directing  to whom and under what
circumstances  the  Escrow  Shares  are  to  be  disbursed  and  delivered.  The
provisions  of this  Section  5.2 shall  survive in the event the  Escrow  Agent
resigns or is discharged pursuant to Sections 5.5 or 5.6 below.

            5.3  Compensation.  The Escrow Agent shall be entitled to reasonable
compensation  from the Company for all services  rendered by it  hereunder.  The
Escrow  Agent shall also be entitled to  reimbursement  from the Company for all
expenses paid or incurred by it in the  administration  of its duties  hereunder
including,  but not  limited to, all  counsel,  advisors'  and agents'  fees and
disbursements and all taxes or other governmental charges.

            5.4  Further  Assurances.  From  time to time on and  after the date
hereof,  the Company and the Initial  Stockholders  shall deliver or cause to be
delivered to the Escrow Agent such further  documents and  instruments and shall
do or cause to be done such further  acts as the Escrow  Agent shall  reasonably
request  to carry out more  effectively  the  provisions  and  purposes  of this
Agreement,  to  evidence  compliance  herewith  or to assure  itself  that it is
protected in acting hereunder.

            5.5  Resignation.  The  Escrow  Agent may  resign at any time and be
discharged  from its duties as escrow  agent  hereunder  by its giving the other
parties  hereto written notice and such  resignation  shall become  effective as
hereinafter provided.  Such resignation shall become effective at such time that
the Escrow Agent shall turn over to a successor  escrow  agent  appointed by the
Company,  the  Escrow  Shares  held  hereunder.  If no new  escrow  agent  is so
appointed  within  the 60 day  period  following  the  giving of such  notice of
resignation,  the Escrow  Agent may deposit the Escrow  Shares with any court it
reasonably deems appropriate.

            5.6 Discharge of Escrow Agent.  The Escrow Agent shall resign and be
discharged  from its duties as escrow agent hereunder if so requested in writing
at any time by the other parties hereto, jointly,  provided,  however, that such
resignation  shall become  effective  only upon  acceptance of  appointment by a
successor escrow agent as provided in Section 5.5.

            5.7 Liability.  Notwithstanding anything herein to the contrary, the
Escrow Agent shall not be relieved  from  liability  hereunder for its own gross
negligence or its own willful misconduct.

      6. Miscellaneous.

            6.1 Governing Law. This  Agreement  shall for all purposes be deemed
to be made under and shall be construed in accordance with the laws of the State
of New York.

            6.2 Third  Party  Beneficiaries.  Each of the  Initial  Stockholders
hereby  acknowledges that the Underwriters are third party beneficiaries of this
Agreement and this  Agreement  may not be modified or changed  without the prior
written consent of EBC.

            6.3 Entire Agreement.  This Agreement  contains the entire agreement
of the parties hereto with respect to the subject  matter hereof and,  except as
expressly  provided  herein,  may  not  be  changed  or  modified  except  by an
instrument in writing signed by the party to the charged.

            6.4  Headings.  The  headings  contained in this  Agreement  are for
reference  purposes  only  and  shall  not  affect  in any  way the  meaning  or
interpretation thereof.

            6.5 Binding  Effect.  This Agreement shall be binding upon and inure
to the benefit of the respective parties hereto and their legal representatives,
successors and assigns.

                                       3
<PAGE>

            6.6 Notices. Any notice or other communication required or which may
be given hereunder shall be in writing and either be delivered  personally or be
mailed,  certified or registered  mail, or by private  national courier service,
return receipt  requested,  postage  prepaid,  and shall be deemed given when so
delivered  personally  or, if  mailed,  two days after the date of  mailing,  as
follows:

            If to the Company, to:

                     China Unistone Acquisition Corporation
                     4 Columbus Circle, 5th Floor
                     New York, New York 10019
                     Attn:    Chairman

            If to a Stockholder, to his address set forth in Exhibit A.

            and if to the Escrow Agent, to:

                     Continental Stock Transfer & Trust Company
                     17 Battery Place
                     New York, New York 10004
                     Attn:    Chairman

            A copy of any notice sent hereunder shall be sent to:

                     Davis & Gilbert LLP
                     1740 Broadway
                     New York, New York 10019
                     Attn: Ralph W. Norton, Esq.

            and:

                     EarlyBirdCapital, Inc.
                     600 Third Avenue
                     33rd Floor
                     New York, New York 10016
                     Attn:    David M. Nussbaum, Chairman

            and:

                     Graubard Miller
                     600 Third Avenue
                     32nd Floor
                     New York, New York 10016
                     Attn:    David Alan Miller, Esq.

            The  parties  may  change the  persons  and  addresses  to which the
notices or other  communications  are to be sent by giving written notice to any
such change in the manner provided herein for giving notice.

            6.7 Liquidation of Company.  The Company shall give the Escrow Agent
written  notification  of the  liquidation and dissolution of the Company in the
event that the Company  fails to  consummate a Business  Combination  within the
time period(s) specified in the Prospectus.

                                       4
<PAGE>

            WITNESS the  execution of this  Agreement as of the date first above
written.

                                          CHINA UNISTONE ACQUISITION CORPORATION

                                          By:  ______________________________
                                                Chih T. Cheung, Chairman

                                          INITIAL STOCKHOLDERS:

                                          ___________________________
                                          Chih T. Cheung

                                          ___________________________
                                          James Z. Li

                                          ___________________________
                                          Dr. Jian Gao

                                          ___________________________
                                          James T. Mauck

                                          ___________________________
                                          James Preissler

                                          ___________________________
                                          Peter F. Tufo

                                          ___________________________
                                          Vincent Lin

                                          ___________________________
                                          Raymond Chang

                                       5
<PAGE>

                                          Perfect Blazon Co., Ltd.

                                          By: _________________________
                                               Name:
                                               Title:

                                          CONTINENTAL STOCK TRANSFER
                                            & TRUST COMPANY

                                          By:________________________________
                                               Name:
                                               Title:

                                       6
<PAGE>

                                    EXHIBIT A

<TABLE>
<CAPTION>
Name and Address of                                             Number           Stock                    Date of
Initial Stockholder                                          of Shares     Certificate Number          Insider Letter
-------------------                                          ---------     ------------------          --------------
<S>                                                            <C>                 <C>                  <C>
Chih T. Cheung                                                 216,000             10                   July 22, 2004
China Unistone Acquisition Corporation
4 Columbus Circle, 5th Floor
New York, New York 10019

James Z. Li                                                    216,000             11                   July 22, 2004
China Unistone Acquisition Corporation
4 Columbus Circle, 5th Floor
New York, New York 10019

James Preissler                                                 96,750             12                   July 22, 2004
Majestic Research
4 Columbus Circle, 5th Floor
New York, New York 10019

Dr. Jian Gao                                                    56,250             13                   July 22, 2004
China Development Bank
29 Fuchengmenwai Street, Xicheng District,
Beijing 100037, People's Republic of China

James T. Mauck                                                  56,250             14                   July 22, 2004
R.R. Donnelley, Room 1001, One Corporate
Avenue, No. 222 Hu Bing Road, Shanghai,
People's Republic of China, 200021

Peter F. Tufo                                                   11,250             15                   July 22, 2004
E.J. McKay & Co., Inc., Lansheng Tower Suite
1206, 8 Huaihai Road Central, Shanghai,
People's Republic of China 200021

Vincent Lin                                                     11,250             16                   July 22, 2004
Goldsun Computer & Communication Co., Ltd.,
12F, No. 139, Cheng Chou Rd., Taipei,
Taiwan, People's Republic of China, 103

Raymond Chang                                                   11,250             17                   July 22, 2004
GigaMedia Ltd., 122 TunHua North Road, 14th
Floor, Taipei, Taiwan, People's Republic of
China F5000000

Perfect Blazon Co., Ltd.                                        75,000             18                   July 22, 2004
ATC Trustees (BVI) Limited
2nd Floor, Abbott Building, Road Town,
Tortola, British Virgin Islands
</TABLE>

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00069-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00069-of-00352.parquet"}]]