Document:

f8k032910ex10vi_exp4.htm

    EXHIBIT
10.6

    
 

    

      HOLDBACK ESCROW
AGREEMENT

       

                 This
ESCROW AGREEMENT (the “Agreement”) is made as of March 29, 2010 by and between
Expedite 4, Inc., a Delaware corporation (the “Company”), Anslow & Jaclin,
LLP, (the “Escrow Agent”) and Rodman & Renshaw, LLC, a New York limited
liability company (the “Placement Agent”).

      

      W I T N E S E T
H:

       

      WHEREAS,
the Company is offering to certain investors (the “Investors”), on a “best
efforts” basis, investment units (“Units”), each Unit consisting of two (2)
shares of the Company’s common stock (the “Common Stock”) and warrants to
purchase one (1) share of the Company’s common stock at an exercise price of
$5.50 per share (the “Warrants” and collectively with the Common Stock, the
“Securities”), for aggregate gross proceeds of a minimum of $5,000,000 and up to
a maximum of $10,000,000 (the “Offering”), in reliance upon an exemption from
securities registration afforded by the provisions of Section 4(2), Section
4(6), Regulation D and/or Regulation S as promulgated by the United States
Securities and Exchange Commission  under the Securities Act of 1933,
as amended; and

       

       Southern China Livestock International Inc., a
company incorporated under the laws of the State of Nevada (“Southern China
Livestock”).  The
closing of the Combination is conditioned upon all of the conditions of the
Offering being met, and the Offering is conditioned upon the closing of the
Combination (the “Closing”). Southern China Livestock owns 100% of the issued
and outstanding capital stock of Mayson International Services Limited (“Mayson
International”) a British Virgin Islands company.  Mayson Enterprises
Services Limited (“Mayson Enterprises”), a company incorporated under the laws
of the British Virgin Islands and the wholly owned subsidiary of Mayson
International, owns 100% of the issued and outstanding capital stock of Mayson
Holdings Limited, a company incorporated under the laws of Hong Kong (“Mayson
Holdings”).  Mayson Holdings owns 100% of the issued and outstanding
capital stock of Beijing Huaxin Tianying Livestock Technology Limited (“Beijing
Huaxin”), a wholly foreign owned enterprise incorporated under the laws of the
People’s Republic of China (“China” or the “PRC”). Jiangxi Yingtan Huaxin
Livestock Limited. (“Jiangxi Huaxin”), a company incorporated under the laws of
the PRC, is a wholly-owned subsidiary of Beijing Huaxin. Pursuant to the
Combination, Southern China Livestock will become a wholly owned subsidiary of
Expedite 4.  Therefore, Expedite 4, Southern China Livestock, Mayson
International, Mayson Enterprises, Mayson Holdings, Beijing Huaxin, and Jiangxi
Huaxin are collectively referred to herein as “Expedite 4” or the
“Company”;  and

       

      WHEREAS,
investors in the Offering will be required to execute a subscription agreement
(the “Subscription Agreement”) by and among any such investor, the Company,
Southern China Livestock International and DengXu;  and

       

      WHEREAS,
the Company proposes to establish an escrow account (the “Escrow Account”),
which shall include Two-Hundred Thousand dollars ($200,000) (the “Escrow
Amount”), to be held in escrow until such time as a qualified chief financial
officer has been approved and appointed as an officer of the Company, and
administered and distributed in accordance with Section 4 of this Agreement; and
the Escrow Agent is willing to establish the Escrow Account on the terms and
subject to the conditions hereinafter set forth;

       

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

       

      1. Appointment of Escrow
Agent.  The Company and the Placement Agent hereby appoint the
Escrow Agent as escrow agent to act in accordance with the terms and conditions
set forth in this Agreement, and the Escrow Agent hereby accepts such
appointment and agrees to establish the Bank Account on the terms and subject to
the conditions hereinafter set forth.

       

      
        
           

        

        
          1

          
            

          

        

        
           

        

      

       

      2. Establishment of the Bank
Account.  The Escrow Agent shall establish a
non-interest-bearing bank account at the branch of the Bank selected by the
Escrow Agent (heretofore defined as the “Bank Account”).  The purpose
of the Bank Account is for (a) the deposit of the Escrow Amount by the Company,
and (b) the disbursement of collected funds, all as described
herein.

       

       

      3. Delivery of the Escrow
Amount.  The Company hereby directs the Escrow Agent to
allocate the Escrow Amount separately from the proceeds of the Offering at the
closing, to be held and disbursed by the Escrow Agent as provided in this
Agreement.  The Escrow Amount shall be held by the Escrow Agent in the
Bank Account as follows:

       

       

      
        	 	Bank
    Address:	 Wachovia Bank
      NA
	 	 	 800 West Main
      Street
	 	 	 Freehold, New
      Jersey 07726

      

       

       
ABA No.:  031201467

       
Account: Anslow & Jaclin LLP Attorney Trust Account

       
Account No.:  2000013292968

       
Attn: Richard I. Anslow, Esq.

       
Reference: Expedite 4, Inc., CFO Holdback Escrow

       

      4. Disbursements from the Bank
Account.   Pursuant to Section 5.5 of the Subscription
Agreement, the Company shall employ a Chief Financial Officer who is
English-speaking and has experience with financial reporting companies who shall
meet the approval and requirements of the Placement Agent (a “Qualified CFO”).
Such approval shall not be unreasonably withheld.  To secure the
hiring of a Qualified CFO, the Company has agreed that the Escrowed Amount be
held in the Escrow Account unless and until a Qualified CFO has been
appointed.  Upon the Company’s appointment of a Qualified CFO, the and
Placement Agent shall execute and deliver to the Escrow Agent written
instructions to release the Escrow Amount to the Company (“Instructions to
Release CFO Holdback”).  Within one (1) Business Day following its
receipt of Instructions to Release CFO Holdback (with wire instructions
attached), the Escrow Agent shall distribute the Escrow Amount in accordance
with such written instructions.  If the entire Escrow Amount is not
disbursed within two (2) years from the date hereof, the balance of the Escrow
Amount shall be returned to the Company.

       

      5. Interpleader.  Should
any controversy arise among the parties hereto with respect to this Agreement or
with respect to the right to receive the Escrow Amount, the Escrow Agent shall
have the right to consult counsel and/or to institute an appropriate
interpleader action to determine the rights of the parties.  The
Escrow Agent is also hereby authorized to institute an appropriate interpleader
action upon receipt of a written letter of direction executed by the parties so
directing Escrow Agent.  If the Escrow Agent is directed to institute
an appropriate interpleader action, it shall institute such action not prior to
thirty (30) days after receipt of such letter of direction and not later than
sixty (60) days after such date.  Any interpleader action instituted
in accordance with this Section 5 shall be
filed in any court of competent jurisdiction in New York, New York, and the
Escrow Amount in dispute shall be deposited with the court and in such event
Escrow Agent shall be relieved of and discharged from any and all obligations
and liabilities under and pursuant to this Agreement with respect to the Escrow
Amount.

       

      
        
           

        

        
          2

          
            

          

        

        
           

        

      

       

      6. Exculpation and
Indemnification of Escrow Agent.

       

      6.1 The
Escrow Agent is not a party to, and is not bound by or charged with notice of
any agreement out of which this escrow may arise. The Escrow Agent acts under
this Agreement as a depositary only and is not responsible or liable in any
manner whatsoever for the sufficiency, correctness, genuineness or validity of
the subject matter of the escrow, or any part thereof, or for the form or
execution of any notice given by any other party hereunder, or for the identity
or authority of any person executing any such notice. The Escrow Agent will have
no duties or responsibilities other than those expressly set forth in this
Agreement.  The Escrow Agent will be under no liability to anyone by
reason of any failure on the part of any party hereto (other than the Escrow
Agent) or any maker, endorser or other signatory of any document to perform such
person’s or entity’s obligations hereunder or under any such
document.  Except for this Agreement and instructions to the Escrow
Agent pursuant to the terms of this Agreement, the Escrow Agent will not be
obligated to recognize any agreement between or among any or all of the persons
or entities referred to herein, notwithstanding its knowledge
thereof.

       

      6.2 The
Escrow Agent will not be liable 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, and may rely conclusively on, and will be protected in
acting upon, any order, notice, demand, certificate, or 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 reasonably believed
by Escrow Agent to be genuine and to be signed or presented by the proper person
or persons. The duties and responsibilities of the Escrow Agent hereunder shall
be determined solely by the express provisions of this Agreement and no other or
further duties or responsibilities shall be implied, including, but not limited
to, any obligation under or imposed by any laws of the State of New York upon
fiduciaries.

       

      6.3 The
Escrow Agent will be indemnified and held harmless, jointly and severally, by
the Company from and against any expenses, including reasonable attorneys’ fees
and disbursements, damages or losses suffered by the Escrow Agent in connection
with any claim or demand, which, in any way, directly or indirectly, arises out
of or relates to this Agreement or the services of Escrow Agent hereunder;
except, that if the Escrow Agent is guilty of willful misconduct, fraud or gross
negligence under this Agreement, then the Escrow Agent will bear all losses,
damages and expenses arising as a result of such willful misconduct, fraud or
gross negligence. Promptly after the receipt by the Escrow Agent of notice of
any such demand or claim or the commencement of any action, suit or proceeding
relating to such demand or claim, the Escrow Agent will notify the other parties
hereto in writing.  For the purposes hereof, the terms “expense” and
“loss” will include all amounts paid or payable to satisfy any such claim or
demand, or in settlement of any such claim, demand, action, suit or proceeding
settled with the express written consent of the parties hereto, and all costs
and expenses, including, but not limited to, reasonable attorneys’ fees and
disbursements, paid or incurred in investigating or defending against any such
claim, demand, action, suit or proceeding.  The provisions of this
Section 6 shall
survive the termination of this Agreement.

       

      6.4 The
Escrow Agent has acted as legal counsel for the Company and may continue to act
as legal counsel for the Company from time to time, notwithstanding its duties
as the Escrow Agent hereunder. Investor Representative and the Investors consent
to the Escrow Agent in such capacity as legal counsel for the Company and waive
any claim that such representation represents a conflict of interest on the part
of the Escrow Agent. Investors Representative and the Investors understand that
the Escrow Agent is relying explicitly on the foregoing provision in entering
into this Escrow Agreement.

       

      7. Fees and Expenses.
The Company agrees to pay the Escrow Agent’s costs and expenses including
reasonable attorney’s fees in the event of any dispute or litigation threatened
or commenced which requires the Escrow Agent in its opinion to refer such matter
to its attorneys.  Escrow Agent will incur no liability for any delay
reasonably required to obtain such advice of counsel.

       

      
        
           

        

        
          3

          
            

          

        

        
           

        

      

       

      8. Resignation of Escrow
Agent.  At any time, upon five (5) days’ written notice to the
Company, the Escrow Agent may resign and be discharged from its duties as escrow
agent hereunder.  As soon as practicable after its resignation, the
Escrow Agent will promptly turn over to a successor escrow agent appointed by
the Company the Escrow Amount held hereunder upon presentation of a document
appointing the new escrow agent and evidencing its acceptance
thereof.  If, by the end of the 5-day period following the giving of
notice of resignation by the Escrow Agent, the Company shall have failed to
appoint a successor escrow agent, the Escrow Agent may interplead the Escrow
Amount into the registry of any court having jurisdiction.

       

      9. Records.  The
Escrow Agent shall maintain accurate records of all transactions
hereunder.  Promptly after the termination of this Agreement or as may
reasonably be requested by the parties hereto from time to time before such
termination, the Escrow Agent shall provide the parties hereto, as the case may
be, with a complete copy of such records, certified by the Escrow Agent to be a
complete and accurate account of all such transactions.  The
authorized representatives of each of the parties hereto shall have access to
such books and records at all reasonable times during normal business hours upon
reasonable notice to the Escrow Agent.

       

      10. Notice.  All
notices, communications and instructions required or desired to be given under
this Agreement must be in writing and shall be deemed to be duly given if sent
by registered or certified mail, return receipt requested, or overnight courier
to the following addresses:

       

      
        	 	If to Escrow
      Agent:
	 	 	
                Anslow +
      Jaclin, LLP

                195 Route
      9 South, 2nd
      Floor

                Manalapan, NJ
      07726

                Attention: Gregg E.
      Jaclin, Esq.

              
	 	 	 
	 	If to the
      Company:
	 	 	 
	 	 	Expedite 4, Inc.
      

                88
      Guihuayuan, Guanjingcheng, Yujiang, 

                  Yingtan
      City, Jiangxi Province, P.R. China. 

                    Attention:  Luiping
      Pan, CEO 

                      Tel.:
      +86 (701) 568-0890 

                        Fax:
      +86 (701)
      568-0891

                      

                    

                  

                

              
	 	 	 
	 	 If to the
      Placement Agent:
	 	 	 
	 	 	
                Rodman
      & Renshaw, LLC

                Attn:           Ramnarain
      J. Jaigobind  

                1251
      Avenue of Americas, 20th
      Floor

                New
      York, NY 10020

                Tel:
      (212) 430-1735

                Fax:
      (212) 847-7335

              
	 	 	 
	 	
                With a copy
      to:

              
	 	 	 
	 	 	
                Loeb
      & Loeb LLP

                Attn:     Mitchell
      Nussbaum

                345
      Park Avenue

                New
      York, New York 10154

                Tel.:
      (212) 407-4159

                Fax:
      (212) 504-3013

              

      

       

      or to
such other address and to the attention of such other person as any of the above
may have furnished to the other parties in writing and delivered in accordance
with the provisions set forth above.

      

      
        
           

        

        
          4

          
            

          

        

        
           

        

      

       

      11. Execution in
Counterparts.  This Agreement may be executed in counterparts,
each of which shall be deemed an original, but all of which together shall
constitute one and the same instrument. Facsimile execution and delivery of this
Agreement is legal, valid and binding for all purposes.

       

      12. Assignment and
Modification.  This Agreement and the rights and obligations
hereunder of any of the parties hereto may not be assigned without the prior
written consent of the other parties hereto. Subject to the foregoing, this
Agreement will be binding upon and inure to the benefit of each of the parties
hereto and their respective successors and permitted assigns. No other person
will acquire or have any rights under, or by virtue of, this
Agreement.  No portion of the Escrow Amount shall be subject to
interference or control by any creditor of any party hereto, or be subject to
being taken or reached by any legal or equitable process in satisfaction of any
debt or other liability of any such party hereto prior to the disbursement
thereof to such party hereto in accordance with the provisions of this
Agreement. This Agreement may be changed or modified only in writing signed by
all of the parties hereto. No waiver of any right
or remedy hereunder shall be valid unless the same shall be in writing and
signed by the party giving such waiver.  No waiver by any party with
respect to any condition, default or breach of covenant hereunder shall be
deemed to extend to any prior or subsequent condition, default or breach of
covenant hereunder or affect in any way any rights arising by virtue of any
prior or subsequent such occurrence.

       

      13. Applicable Law. This
Agreement shall be governed by and construed with the laws of the State of
Delaware applicable to contracts made and to be performed
therein.  Any litigation concerning the subject matter of this
Agreement shall be exclusively prosecuted in the state or federal courts located
in New York, New York, and all parties consent to the exclusive jurisdiction and
venue of those courts.

       

      14. Headings. The
headings contained in this Agreement are for convenience of reference only and
shall not affect the construction of this Agreement.

       

      15. Attorneys’ Fees. If
any action at law or in equity, including an action for declaratory relief, is
brought to enforce or interpret the provisions of this Agreement, the prevailing
party shall be entitled to recover reasonable attorneys’ fees from the other
party (unless such other party is the Escrow Agent), which fees may be set by
the court in the trial of such action or may be enforced in a separate action
brought for that purpose, and which fees shall be in addition to any other
relief that may be awarded.

       

      

      [Signatures
Page Follows]

      
        
           

        

        
          5

          
            

          

        

        
           

        

      

      

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

       

      
        
          	 	ANSLOW & JACLIN,
      LLP	 
	 	 	 
	 	 	 	 
	
                   

                	
                  By:
      

                	/s/Anslow & Jaclin,
      LLP	 
	 	 	Name:
      Gregg Jaclin	 
	 	 	Title:
      Partner	 
	 	 	 	 
	 	 	 	 
	 	EXPEDITE 4,
    INC.	 
	 	 	 	 
	 	 	 	 
	 	By: 	/s/ Luping
    Pan	 
	 	 	Name:  Luping
      Pan	 
	 	 	Title:   CEO	 
	 	 	 	 
	 	 	 	 
	 	RODMAN & RENSHAW,
      LLC	 
	 	 	 	 
	 	 	 	 
	 	By: 	/s/ John Borer	 
	 	 	Name:
      John Borer	 
	 	 	Title:
      President	 

        

       

       

       6f8k032910ex10vii_exp4.htm

    EXHIBIT
 10.7

     

     

    

    ESCROW AGREEMENT FOR
DISBURSEMENT

     

    This
ESCROW AGREEMENT (the “Agreement”) is made as of March 29, 2010 by and between
Expedite 4, Inc, a Delaware corporation (the “Company” or “Expedite 4”), with a
mailing address of 88 Guihuayuan, Guanjingcheng, Yujiang, Yingtan City, Jiangxi
Province, P.R. China, Anslow & Jaclin, LLP, 195 Route 9 South, 2nd
Floor, Manalapan, NJ 07726 (the “Escrow Agent”), and Rodman & Renshaw, LLC
(the “Placement Agent”).

    

    W I T N E S E T
H:

     

    WHEREAS,
the Company is offering to certain investors (the “Investors”), on a “best
efforts” basis, investment units (“Units”), each Unit consisting of (i) two (2)
shares of the Company’s common stock, par value $0.001 per share (the “Common
Stock”) and (ii) warrants to purchase one (1)  share of the Company’s
Common Stock, at an exercise price of $5.50 per share (the “Warrants” and
collectively with the Common Stock, the “Securities”), for aggregate gross
proceeds of a minimum of $5,000,000 and up to a maximum of $10,000,000 (the
“Offering”), in reliance upon an exemption from securities registration afforded
by the provisions of Section 4(2), Section 4(6), Regulation D and/or Regulation
S as promulgated by the United States Securities and Exchange
Commission  under the Securities Act of 1933, as amended;

     

    WHEREAS, such Offering is in connection with the
combination (the “Combination”) of Expedite 4 and
Southern China Livestock International Inc., a company incorporated under the
laws of the State of Nevada (“Southern China Livestock”).  The closing
of the Combination is conditioned upon all of the conditions of the Offering
being met, and the Offering is conditioned upon the closing of the Combination
(the “Closing”). Southern China Livestock owns 100% of the issued and
outstanding capital stock of Mayson International Services Limited (“Mayson
International”) a British Virgin Islands company.  Mayson Enterprises
Services Limited (“Mayson Enterprises”), a company incorporated under the laws
of the British Virgin Islands and the wholly-owned subsidiary of Mayson
International, owns 100% of the issued and outstanding capital stock of Mayson
Holdings Limited, a company incorporated under the laws of Hong Kong (“Mayson
Holdings”).  Mayson Holdings owns 100% of the issued and outstanding
capital stock of Beijing Huaxin Tianying Livestock Technology Limited (“Beijing
Huaxin”), a wholly foreign owned enterprise incorporated under the laws of the
People’s Republic of China (“China” or the “PRC”). Jiangxi Yingtan Huaxin
Livestock Limited. (“Jiangxi Huaxin”), a company incorporated under the laws of
the PRC, is a wholly-owned subsidiary of Beijing Huaxin. Pursuant to the
Combination, Southern China Livestock will become a wholly-owned subsidiary of
Expedite 4.  Therefore, Expedite 4, Southern China Livestock, Mayson
International, Mayson Enterprises, Mayson Holdings, Beijing Huaxin, and Jiangxi
Huaxin are collectively referred to herein as “Expedite 4” or the
“Company”;

     

    WHEREAS,
the Company proposes to establish an escrow account (the “Escrow Account”),
which shall include Three Hundred Thousand Dollars ($300,000) of the Offering
proceeds (the “Escrow Amount”) to be used for the payment of fees and expenses related to
becoming a public company and listing the Company’s Common Stock on a senior
exchange; and the Escrow Agent is willing to establish the Escrow Account
on the terms and subject to the conditions hereinafter set forth;

     

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

     

    1. Appointment of Escrow
Agent.  The Company and the Placement Agent hereby appoint
Escrow Agent as escrow agent to act in accordance with the terms and conditions
set forth in this Agreement, and the Escrow Agent hereby accepts such
appointment and agrees to establish the Bank Account on the terms and subject to
the conditions hereinafter set forth.

     

    
      
         

      

      
        1

        
          

        

      

      
         

      

    

     

    2. Establishment of the Bank
Account.  The Escrow Agent shall establish a
non-interest-bearing bank account at the branch of the Bank selected by the
Escrow Agent (heretofore defined as the “Bank Account”).  The purpose
of the Bank Account is for (a) the deposit of the Escrow Funds by the Company,
and (b) the disbursement of collected funds, all as described
herein.

     

    3. Delivery of the Escrow
Amount.  The Company hereby directs the Escrow Agent to
allocate the Escrow Amount separately from the proceeds of the Offering at the
closing, to be held and disbursed by the Escrow Agent as provided in this
Agreement.  The Escrow Amount shall be held by the Escrow Agent in the
Bank Account as follows:

     

    
      	 	Bank
      Address: 	Wachovia Bank
      NA
	 	 	800 West Main
      Street
	 	 	Freehold, New Jersey
      07726
	 	
              ABA No.:  031201467

              Account: Anslow & Jaclin LLP Attorney Trust
      Account

              Account No.:  2000013292968

              Attn: Richard I. Anslow, Esq.

              Reference: Expedite 4, Inc. Disbursement
    Escrow

            

    

     

    4. Disbursements from the Bank
Account. The
Escrow Agent shall release the Escrow Amount in incremental amounts pursuant to
written instructions provided by the Company and
the Placement Agent in accordance with the Disbursement Schedule set
forth in Schedule
A hereto. If the entire Escrow Amount is not disbursed within two (2)
years from the date hereof, the balance of the Escrow Amount shall be returned
to the Company

     

    5. Duration. This
Agreement shall terminate upon the disbursement of 100% of the Escrow Amount in
accordance with Section
4.

     

    6. Interpleader.  Should
any controversy arise among the parties hereto with respect to this Agreement or
with respect to the right to receive the Escrow Amount, the Escrow Agent shall
have the right to consult counsel and/or to institute an appropriate
interpleader action to determine the rights of the parties.  The
Escrow Agent is also hereby authorized to institute an appropriate interpleader
action upon receipt of a written letter of direction executed by the parties so
directing Escrow Agent.  If the Escrow Agent is directed to institute
an appropriate interpleader action, it shall institute such action not prior to
thirty (30) days after receipt of such letter of direction and not later than
sixty (60) days after such date.  Any interpleader action instituted
in accordance with this Section 6 shall be
filed in any court of competent jurisdiction in New York, New York, and the
Escrow Amount in dispute shall be deposited with the court and in such event
Escrow Agent shall be relieved of and discharged from any and all obligations
and liabilities under and pursuant to this Agreement with respect to the Escrow
Amount.

     

    7. Exculpation and
Indemnification of Escrow Agent.

     

    7.1 The
Escrow Agent is not a party to, and is not bound by or charged with notice of
any agreement out of which this escrow may arise. The Escrow Agent acts under
this Agreement as a depositary only and is not responsible or liable in any
manner whatsoever for the sufficiency, correctness, genuineness or validity of
the subject matter of the escrow, or any part thereof, or for the form or
execution of any notice given by any other party hereunder, or for the identity
or authority of any person executing any such notice. The Escrow Agent will have
no duties or responsibilities other than those expressly set forth in this
Agreement.  The Escrow Agent will be under no liability to anyone by
reason of any failure on the part of any party hereto (other than the Escrow
Agent) or any maker, endorser or other signatory of any document to perform such
person’s or entity’s obligations hereunder or under any such
document.  Except for this Agreement and instructions to the Escrow
Agent pursuant to the terms of this Agreement, the Escrow Agent will not be
obligated to recognize any agreement between or among any or all of the persons
or entities referred to herein, notwithstanding its knowledge
thereof.

     

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

     

    7.2 The
Escrow Agent will not be liable 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, and may rely conclusively on, and will be protected in
acting upon, any order, notice, demand, certificate, or 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 reasonably believed
by Escrow Agent to be genuine and to be signed or presented by the proper person
or persons. The duties and responsibilities of the Escrow Agent hereunder shall
be determined solely by the express provisions of this Agreement and no other or
further duties or responsibilities shall be implied, including, but not limited
to, any obligation under or imposed by any laws of the State of New York upon
fiduciaries.

     

    7.3 The
Escrow Agent will be indemnified and held harmless, jointly and severally, by
the Company from and against any expenses, including reasonable attorneys’ fees
and disbursements, damages or losses suffered by the Escrow Agent in connection
with any claim or demand, which, in any way, directly or indirectly, arises out
of or relates to this Agreement or the services of Escrow Agent hereunder;
except, that if the Escrow Agent is guilty of willful misconduct, fraud or gross
negligence under this Agreement, then the Escrow Agent will bear all losses,
damages and expenses arising as a result of such willful misconduct, fraud or
gross negligence. Promptly after the receipt by the Escrow Agent of notice of
any such demand or claim or the commencement of any action, suit or proceeding
relating to such demand or claim, the Escrow Agent will notify the other parties
hereto in writing.  For the purposes hereof, the terms “expense” and
“loss” will include all amounts paid or payable to satisfy any such claim or
demand, or in settlement of any such claim, demand, action, suit or proceeding
settled with the express written consent of the parties hereto, and all costs
and expenses, including, but not limited to, reasonable attorneys’ fees and
disbursements, paid or incurred in investigating or defending against any such
claim, demand, action, suit or proceeding.  The provisions of this
Section 7 shall
survive the termination of this Agreement.

     

    7.4 The
Escrow Agent has acted as legal counsel for the Company and may continue to act
as legal counsel for the Company from time to time, notwithstanding its duties
as the Escrow Agent hereunder. The parties consent to the Escrow Agent in such
capacity as legal counsel for the Company and waive any claim that such
representation represents a conflict of interest on the part of the Escrow
Agent. The parties understand that the Escrow Agent is relying explicitly on the
foregoing provision in entering into this Escrow Agreement.

     

    8. Fees and Expenses.
The Company agrees to pay the Escrow Agent’s costs and expenses including
reasonable attorney’s fees in the event of any dispute or litigation threatened
or commenced which requires the Escrow Agent in its opinion to refer such matter
to its attorneys.  Escrow Agent will incur no liability for any delay
reasonably required to obtain such advice of counsel.

     

    9. Resignation of Escrow
Agent.  At any time, upon five (5) days’ written notice to the
Company, the Escrow Agent may resign and be discharged from its duties as escrow
agent hereunder.  As soon as practicable after its resignation, the
Escrow Agent will promptly turn over to a successor escrow agent appointed by
the Company the Escrow Amount held hereunder upon presentation of a document
appointing the new escrow agent and evidencing its acceptance
thereof.  If, by the end of the 5-day period following the giving of
notice of resignation by the Escrow Agent, the Company shall have failed to
appoint a successor escrow agent, the Escrow Agent may interplead the Escrow
Amount into the registry of any court having jurisdiction.

     

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

     

    10. Records.  The
Escrow Agent shall maintain accurate records of all transactions
hereunder.  Promptly after the termination of this Agreement or as may
reasonably be requested by the parties hereto from time to time before such
termination, the Escrow Agent shall provide the parties hereto, as the case may
be, with a complete copy of such records, certified by the Escrow Agent to be a
complete and accurate account of all such transactions.  The
authorized representatives of each of the parties hereto shall have access to
such books and records at all reasonable times during normal business hours upon
reasonable notice to the Escrow Agent.

     

    11. Notice.  All
notices, communications and instructions required or desired to be given under
this Agreement must be in writing and shall be deemed to be duly given if sent
by registered or certified mail, return receipt requested, or overnight courier
to the following addresses:

     

    
      	 	If to Escrow
      Agent:
	 	 	 
	 	 	Anslow + Jaclin, LLP
      

              195
      Route 9 South, 2nd
      Floor

              Manalapan,
      New Jersey 07726

              Attention:
      Richard I. Anslow, Esq.

            
	 	 	 
	 	If to the
      Company:
	 	 	 
	 	 	Expedite 4, Inc.
      

              88
      Guihuayuan, Guanjingcheng, Yujiang,

              Yingtan
      City, Jiangxi Province, P.R. China

              Attention:
      Luiping Pan, Chief Executive Officer

            
	 	 	 
	 	If to the Placement
      Agent:
	 	 	 
	 	 	Rodman &
      Renshaw, LLC 

              Attn:           Ramnarain
      J. Jaigobind

              1251
      Avenue of Americas, 20th
      Floor

               New
      York, NY 10020

            

    

     

    or to
such other address and to the attention of such other person as any of the above
may have furnished to the other parties in writing and delivered in accordance
with the provisions set forth above.

    

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

     

    12. Execution in
Counterparts.  This Agreement may be executed in counterparts,
each of which shall be deemed an original, but all of which together shall
constitute one and the same instrument. Facsimile execution and delivery of this
Agreement is legal, valid and binding for all purposes.

     

    13. Assignment and
Modification.  This Agreement and the rights and obligations
hereunder of any of the parties hereto may not be assigned without the prior
written consent of the other parties hereto. Subject to the foregoing, this
Agreement will be binding upon and inure to the benefit of each of the parties
hereto and their respective successors and permitted assigns. No other person
will acquire or have any rights under, or by virtue of, this
Agreement.  No portion of the Escrow Amount shall be subject to
interference or control by any creditor of any party hereto, or be subject to
being taken or reached by any legal or equitable process in satisfaction of any
debt or other liability of any such party hereto prior to the disbursement
thereof to such party hereto in accordance with the provisions of this
Agreement. This Agreement may be changed or modified only in writing signed by
all of the parties hereto. No waiver of any right or
remedy hereunder shall be valid unless the same shall be in writing and signed
by the party giving such waiver.  No waiver by any party with respect
to any condition, default or breach of covenant hereunder shall be deemed to
extend to any prior or subsequent condition, default or breach of covenant
hereunder or affect in any way any rights arising by virtue of any prior or
subsequent such occurrence.

     

    14. Applicable Law. This
Agreement shall be governed by and construed with the laws of the State of
Delaware applicable to contracts made and to be performed
therein.  Any litigation concerning the subject matter of this
Agreement shall be exclusively prosecuted in the state or federal courts located
in New York, New York, and all parties consent to the exclusive jurisdiction and
venue of those courts.

     

    15. Headings. The
headings contained in this Agreement are for convenience of reference only and
shall not affect the construction of this Agreement.

     

    16. Attorneys’ Fees. If
any action at law or in equity, including an action for declaratory relief, is
brought to enforce or interpret the provisions of this Agreement, the prevailing
party shall be entitled to recover reasonable attorneys’ fees from the other
party (unless such other party is the Escrow Agent), which fees may be set by
the court in the trial of such action or may be enforced in a separate action
brought for that purpose, and which fees shall be in addition to any other
relief that may be awarded.

     

    [Signatures
Page Follows]

    

    
      
        
           

        

        
          5

          
            

          

        

        
           

        

      

    

    

    

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

     

     

    
      
        	 	ANSLOW & JACLIN,
      LLP	 
	 	 	 	 
	 	 	 	 
	
                 

              	
                By:
      

              	/s/ Anslow & Jaclin,
      LLP	 
	 	 	Name:	 
	 	 	Title:	 
	 	 	 	 
	 	 	 	 
	 	EXPEDITE 4,
    INC.	 
	 	 	 	 
	 	 	 	 
	 	By: 	/s/ Luping Pan	 
	 	 	Name:  Luping
      Pan	 
	 	 	Title:   CEO	 
	 	 	 	 
	 	 	 	 
	 	RODMAN & RENSHAW,
      LLC.	 
	 	 	 	 
	 	 	 	 
	 	By:	/s/ John Borer	 
	 	 	Name:  John
      Borer	 
	 	 	Title:
      President	 

      

    

     

    
 

    
      
         

      

      
        6

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00171-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00171-of-00352.parquet"}]]