Document:

NEITHER
      THIS WARRANT NOR THE SHARES OF COMMON STOCK ISSUABLE UPON EXERCISE HAVE BEEN
      REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "ACT"), OR UNDER
      ANY STATE SECURITIES LAW. THE COMPANY WILL NOT TRANSFER THIS WARRANT, OR ANY
      SHARES OF COMMON SHARES ISSUABLE UPON EXERCISE, UNLESS (i) THERE IS AN EFFECTIVE
      REGISTRATION COVERING THIS WARRANT OR SHARES UNDER THE ACT AND APPLICABLE STATE
      SECURITIES LAWS, (ii) IT FIRST RECEIVES AN OPINION FROM COUNSEL TO THE COMPANY,
      STATING THAT THE PROPOSED TRANSFER IS EXEMPT FROM REGISTRATION UNDER THE ACT
      AND
      UNDER ALL APPLICABLE STATE SECURITIES LAWS, OR (iii) THE TRANSFER IS MADE
      PURSUANT TO RULE 144 PROMULGATED UNDER THE ACT.

    

    

      
        	
                Warrant
                  Holder:_________________

              	
                Dated:
                  February __, 2007

              
	 	 
	
                For
                  the Purchase of ________ Shares of Common Stock

              	
                No.___________

              

      

    

    

    WARRANT
      FOR THE PURCHASE OF 

    SHARES
      OF COMMON STOCK OF 

    

    AGFEED
      INDUSTRIES, INC.

    

    Expiring
      Three Years from the Date Hereof

    

    

    FOR
      VALUE
      RECEIVED, AgFeed Industries, Inc. ("Company"), hereby certifies that the Warrant
      Holder specified above, or his registered assigns ("Registered Holder"), is
      entitled, subject to the terms set forth below, to purchase from the Company
      on
      or before the third anniversary of the date hereof, that number of shares of
      Common Stock, $.001 par value, of the Company ("Common Stock") set forth above,
      at a purchase price equal to $5.00 per share (as may be adjusted as provided
      below) upon the terms and conditions set forth herein. The number of shares
      of
      Common Stock purchasable upon exercise of this Warrant, and the purchase
      price(s) per share, each as adjusted from time to time pursuant to the
      provisions of this Warrant, are hereinafter referred to as the "Warrant Shares"
      and the "Exercise Price(s)," respectively.

    

    1.  Registration
      of Transfers and Exchanges.

    

    (i)  The
      Company shall register the transfer of any portion of this Warrant in the
      Warrant Register, upon surrender of this Warrant, with the Form of Assignment
      attached hereto duly completed and signed, to the Transfer Agent or to the
      Company, provided, however, that the Holder shall not make any transfers to
      any
      transferee pursuant to this Section for the right to acquire less than 1,000
      Warrant Shares (or the balance of the Warrant Shares to which this Warrant
      relates). Upon any such registration or transfer, a new warrant to purchase
      Common Stock, in substantially the form of this Warrant (any such new warrant,
      a
      "New Warrant"), evidencing the portion of this Warrant so transferred shall
      be
      issued to the transferee and a New Warrant evidencing the remaining portion
      of
      this Warrant not so transferred, if any, shall be issued to the transferring
      Holder. The acceptance of the New Warrant by the transferee thereof shall be
      deemed the acceptance of such transferee of all of the rights and obligations
      of
      a holder of a Warrant.

     

    
      
        
        

      

      
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    (ii)  This
      Warrant is exchangeable, upon the surrender hereof by the Holder to the office
      of the Company for one or more New Warrants, evidencing in the aggregate the
      right to purchase the number of Warrant Shares which may then be purchased
      hereunder. Any such New Warrant will be dated the date of such
      exchange.

    

    2.  Exercise.
      

    

    (i)  Procedure
      for Cash Exercise.
      Subject
      to the conditions and terms set forth herein, this Warrant may be exercised
      by
      the Registered Holder (“Conversion Right”), in whole or in part, by the
      surrender of this Warrant (with the Notice of Exercise Form attached hereto
      as
      Exhibit 1 duly executed by such Registered Holder) at the principal office
      of
      the Company, or at such other office or agency as the Company may designate,
      accompanied by payment in full, in lawful money of the United States, of an
      amount equal to the then applicable Exercise Price(s) multiplied by the number
      of Warrant Shares then being purchased upon such exercise.

    

    (ii)  Procedure
      for Cashless Exercise.
      

    

    (a)  Subject
      to the conditions and terms set forth herein, in lieu of the payment of the
      Exercise Price(s) in the manner set forth in Section 2(i), the Registered Holder
      shall have the right (but not the obligation) to convert this Warrant, in whole
      or part, into Common Stock (also “Conversion Right”) as follows: Upon exercise
      of the Conversion Right as provided below with delivery of notice, the Company
      shall deliver to the Registered Holder (without payment by the Registered Holder
      of any of the Exercise Price(s)) that number of shares of Common Stock equal
      to
      the quotient obtained by dividing (x) the "Value" (as defined below) of the
      portion of the Warrant being converted on the second trading day immediately
      preceding the date the Warrant is delivered to the Company pursuant to Section
      2(i) if the Conversion Right is exercised ("Valuation Date") by (y) the "Market
      Price" (as defined below) on the Valuation Date.

    

    (b)  The
      "Value" of the portion of the Warrant being converted shall equal the remainder
      derived from subtracting (a) the Exercise Price(s) multiplied by the number
      of
      shares of Common Stock underlying the portion of the Warrant being converted
      from (b) the Market Price of the Common Stock multiplied by the number of shares
      of Common Stock underlying the portion of the Warrant being converted. As used
      herein, the term "Market Price" at any date shall be deemed to be the average
      of
      the reported closing price of the Common Stock on the twenty (20) consecutive
      business days prior to the exercise date, as reported by the national securities
      exchange on which the Common Stock is listed or admitted to trading, or, if
      the
      Common Stock is not listed or admitted to trading on any national securities
      exchange or if any such exchange on which the Common Stock is listed or admitted
      to trading is not its principal trading market, the last sale price as reported
      by the Nasdaq Stock Market if the Common Stock is quoted on the Nasdaq National
      Market or Nasdaq SmallCap Market. If the Common Stock is not listed on a
      national securities exchange or quoted on the Nasdaq National Market or Nasdaq
      SmallCap Market, but is traded in the residual over-the-counter market, the
      Market Price shall mean the last sale price for the Common Stock, as reported
      by
      the NASD OTC Bulletin Board if quoted on the NASD OTC Bulletin Board. If the
      Market Price cannot be determined pursuant to the above, the Market Price shall
      be such price as the Board of Directors of the Company shall determine in good
      faith.

     

    
      
        
        

      

      
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    (iii)  Exercise
      of Conversion Right.
      Subject
      to the terms and conditions set forth herein, the Conversion Right may be
      exercised by the Holder on any business day by delivering to the Company the
      Warrant with a duly executed Notice of Exercise Form attached hereto as Exhibit
      1 with the conversion section completed by specifying the total number of shares
      of Common Stock the Registered Holder will purchase pursuant to such
      conversion.

    

    (iv)  Date
      of Exercise.
      Each
      exercise of this Warrant shall be deemed to have been effected immediately
      prior
      to the close of business on the day on which this Warrant shall have been
      surrendered to the Company. At such time, the person or persons in whose name
      or
      names any certificates for Warrant Shares shall be issuable upon such exercise
      shall be deemed to have become the holder or holders of record of the Warrant
      Shares represented by such certificates.

    

    (v)  Issuance
      of Certificate.
      As soon
      as practicable after the exercise of the purchase right represented by this
      Warrant, the Company at its expense will cause to be issued in the name of,
      and
      delivered to, the Registered Holder, or, subject to the terms and conditions
      hereof, to such other individual or entity as such Holder (upon payment by
      such
      Holder of any applicable transfer taxes) may direct:

    

    (a)  a
      certificate or certificates for the number of full shares of Warrant Shares
      to
      which such Registered Holder shall be entitled upon such exercise plus, in
      lieu
      of any fractional share to which such Registered Holder would otherwise be
      entitled, cash in an amount determined pursuant to Section 4 hereof,
      and

    

    (b)  in
      case
      such exercise is in part only, a new warrant or warrants (dated the date hereof)
      of like tenor, stating on the face or faces thereof the number of shares
      currently stated on the face of this Warrant minus the number of such shares
      purchased by the Registered Holder upon such exercise as provided in subsections
      2(i) and 2(ii) above.

    

    (vi)  Exercise
      of Warrant.
      The
      Warrant may be exercised in whole or from time to time in part on or prior
      to
      the third anniversary of the date hereof, as first set forth above.

    

    3.  Adjustments.

    

    (i)  Split,
      Subdivision or Combination of Shares.
      If the
      outstanding shares of the Company's Common Stock at any time while this Warrant
      remains outstanding and unexpired shall be subdivided or split into a greater
      number of shares, or a dividend in Common Stock shall be paid in respect of
      Common Stock, the Exercise Price(s) in effect immediately prior to such
      subdivision or at the record date of such dividend shall, simultaneously with
      the effectiveness of such subdivision or split or immediately after the record
      date of such dividend (as the case may be), shall be proportionately decreased.
      If the outstanding shares of Common Stock shall be combined or reverse-split
      into a smaller number of shares, the Exercise Price(s) in effect immediately
      prior to such combination or reverse split shall, simultaneously with the
      effectiveness of such combination or reverse split, be proportionately
      increased. When any adjustment is required to be made in the Exercise Price(s),
      the number of shares of Warrant Shares purchasable upon the exercise of this
      Warrant shall be changed to the number determined by dividing (i) an amount
      equal to the number of shares issuable upon the exercise of this Warrant
      immediately prior to such adjustment, multiplied by the Exercise Price(s) in
      effect immediately prior to such adjustment, by (ii) the Exercise Price(s)
      in
      effect immediately after such adjustment.

     

    
      
        
        

      

      
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    (ii)  Reclassification,
      Reorganization, Consolidation or Merger.
      In the
      case of any reclassification of the Common Stock (other than a change in par
      value or a subdivision or combination as provided for in subsection 3.1 above),
      or any reorganization, consolidation or merger of the Company with or into
      another corporation (other than a merger or reorganization with respect to
      which
      the Company is the continuing corporation and which does not result in any
      reclassification of the Common Stock), or a transfer of all or substantially
      all
      of the assets of the Company, or the payment of a liquidating distribution
      then,
      as part of any such reorganization, reclassification, consolidation, merger,
      sale or liquidating distribution, lawful provision shall be made so that the
      Registered Holder of this Warrant shall have the right thereafter to receive
      upon the exercise hereof, the kind and amount of shares of stock or other
      securities or property which such Registered Holder would have been entitled
      to
      receive if, immediately prior to any such reorganization, reclassification,
      consolidation, merger, sale or liquidating distribution, as the case may be,
      such Registered Holder had held the number of shares of Common Stock which
      were
      then purchasable upon the exercise of this Warrant. In any such case,
      appropriate adjustment (as reasonably determined by the Board of Directors
      of
      the Company) shall be made in the application of the provisions set forth herein
      with respect to the rights and interests thereafter of the Registered Holder
      of
      this Warrant such that the provisions set forth in this Section 3 (including
      provisions with respect to the Exercise Price(s)) shall thereafter be
      applicable, as nearly as is reasonably practicable, in relation to any shares
      of
      stock or other securities or property thereafter deliverable upon the exercise
      of this Warrant.

    

    (iii)  Price
      Adjustment.
      No
      adjustment in the per share Exercise Price(s) shall be required unless such
      adjustment would require an increase or decrease in the Exercise Price(s) of
      at
      least $0.01; provided, however, that any adjustments which by reason of this
      paragraph are not required to be made shall be carried forward and taken into
      account in any subsequent adjustment. All calculations under this Section 3
      shall be made to the nearest cent or to the nearest 1/100th of a share, as
      the
      case may be.

    

    (iv)  No
      Impairment.
      The
      Company will not, by amendment of its Articles of Incorporation or through
      any
      reorganization, transfer of assets, consolidation, merger, dissolution, issue
      or
      sale of securities or any other voluntary action, avoid or seek to avoid the
      observance or performance of any of the terms to be observed or performed
      hereunder by the Company but will at all times in good faith assist in the
      carrying out of all the provisions of this Section 3 and in the taking of all
      such actions as may be necessary or appropriate in order to protect against
      impairment of the rights of the Registered Holder of this Warrant to adjustments
      in the Exercise Price(s).

     

    
      
        
        

      

      
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    (v)  Notice
      of Adjustment.
      Upon
      any adjustment of the Exercise Price(s) or extension of the Warrant exercise
      period, the Company shall forthwith give written notice thereto to the
      Registered Holder of this Warrant describing the event requiring the adjustment,
      stating the adjusted Exercise Price(s) and the adjusted number of shares
      purchasable upon the exercise hereof resulting from such event, and setting
      forth in reasonable detail the method of calculation and the facts upon which
      such calculation is based.

    

    4.  Fractional
      Shares.
      The
      Company shall not be required to issue fractions of shares of Common Stock
      upon
      exercise. If any fractions of a share would, but for this Section 4, be issuable
      upon any exercise, in lieu of such fractional share the Company shall round
      up
      or down to the nearest whole number.

    

    5.  Limitation
      on Sales.
      Each
      holder of this Warrant acknowledges that this Warrant and the Warrant Shares,
      as
      of the date of original issuance of this Warrant, have not been registered
      under
      the Securities Act of 1933, as amended ("Act"), and agrees not to sell, pledge,
      distribute, offer for sale, transfer or otherwise dispose of this Warrant or
      any
      Warrant Shares issued upon its exercise in the absence of (i) an effective
      registration statement under the Act as to this Warrant or such Warrant Shares
      or (ii) an opinion of counsel, reasonably acceptable to the Company and its
      counsel, that such registration and qualification are not required. The Warrant
      Shares issued upon exercise thereof shall be imprinted with a legend in
      substantially the following form:

    

    "THE
      ISSUANCE OF THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT
      OF
      1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS, AND MAY NOT BE SOLD,
      PLEDGED OR OTHERWISE TRANSFERRED WITHOUT AN EFFECTIVE REGISTRATION THEREOF
      UNDER
      SUCH ACT OR PURSUANT TO AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF
      SAID
      ACT OR APPLICABLE STATE SECURITIES LAWS, SUPPORTED BY AN OPINION OF COUNSEL,
      REASONABLY SATISFACTORY TO THE COMPANY AND ITS COUNSEL, THAT SUCH REGISTRATION
      IS NOT REQUIRED."

    6.  Certain
      Dividends.
      If the
      Company pays a dividend or makes a distribution on the Common Stock
      ("Dividend"), other than (i) a stock dividend payable in shares of Common Stock,
      or (ii) a cash dividend paid from Retained Earnings, then the Company will
      pay
      or distribute to the Registered Holder of this Warrant, upon the exercise
      hereof, in addition to the Warrant Shares purchased upon such exercise, the
      Dividend which would have been paid to such Registered Holder if it had been
      the
      owner of record of such Warrant Shares immediately prior to the date on which
      a
      record is taken for such Dividend or, if no record is taken, the date as of
      which the records holders of Common Stock entitled to such Dividend are
      determined.

    

    
      
        
        

      

      
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    7.  Notices
      of Record Date.
      In
      case: (i) the Company shall take a record of the holders of its Common Stock
      (or
      other stock or securities at the time deliverable upon the exercise of this
      Warrant) for the purpose of entitling or enabling them to receive any dividend
      or other distribution, or to receive any right to subscribe for or purchase
      any
      shares of any class or any other securities, or to receive any other right,
      or
      (ii) of any capital reorganization of the Company, any reclassification of
      the
      capital stock of the Company, any consolidation or merger of the Company with
      or
      into another corporation (other than a consolidation or merger in which the
      Company is the surviving entity), or any transfer of all or substantially all
      of
      the assets of the Company, or (iii) of the voluntary or involuntary dissolution,
      liquidation or winding-up of the Company, then, and in each such case, the
      Company will mail or cause to be mailed to the Registered Holder of this Warrant
      a notice specifying, as the case may be, (i) the date on which a record is
      to be
      taken for the purpose of such dividend, distribution or right, and stating
      the
      amount and character of such dividend, distribution or right, or (ii) the
      effective date on which such reorganization, reclassification, consolidation,
      merger, transfer, dissolution, liquidation or winding-up is to take place,
      and
      the time, if any is to be fixed, as of which the holders of record of Common
      Stock (or such other stock or securities at the time deliverable upon the
      exercise of this Warrant) shall be entitled to exchange their shares of Common
      Stock (or such other stock or securities) for securities or other property
      deliverable upon such reorganization, reclassification, consolidation, merger,
      transfer, dissolution, liquidation or winding-up. Such notice shall be mailed
      at
      least ten (10) days prior to the record date or effective date for the event
      specified in such notice, provided that the failure to mail such notice shall
      not affect the legality or validity of any such action.

    

    8.  Reservation
      of Stock.
      The
      Company will at all times reserve and keep available, solely for issuance and
      delivery upon the exercise of this Warrant, such shares of Common Stock and
      other stock, securities and property, as from time to time shall be issuable
      upon the exercise of this Warrant. So long as this Warrant remains outstanding,
      the Company shall maintain the listing of the shares of Common Stock to be
      issued upon exercise on each national securities exchange on which Common Stock
      is listed (on the Nasdaq Stock Market if the Common Stock is then quoted on
      the
      Nasdaq Stock Market or on the Nasdaq Over-The-Counter service if the Common
      Stock is then quoted on such service/bulletin board).

    

    9.  Replacement
      of Warrants.
      Upon
      receipt of evidence reasonably satisfactory to the Company of the loss, theft,
      destruction or mutilation of this Warrant and (in the case of loss, theft or
      destruction) upon delivery of an indemnity agreement (with surety if reasonably
      required) in an amount reasonably satisfactory to the Company, or (in the case
      of mutilation) upon surrender and cancellation of this Warrant, the Company
      will
      issue, in lieu thereof, a new Warrant of like tenor.

     

    10.  Transfers,
      etc.

    

    (i)  Warrant
      Register.
      The
      Company will maintain a register containing the names and addresses of the
      Registered Holders of this Warrant. Any Registered Holder may change its, his
      or
      her address as shown on the warrant register by written notice to the Company
      requesting such change.

    

    
      
        
        

      

      
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    (ii)  Registered
      Holder.
      Until
      any transfer of this Warrant is made in the warrant register, the Company may
      treat the Registered Holder of this Warrant as the absolute owner hereof for
      all
      purposes; provided, however, that if and when this Warrant is properly assigned
      in blank, the Company may (but shall not be obligated to) treat the bearer
      hereof as the absolute owner hereof for all purposes, notwithstanding any notice
      to the contrary.

    

    11.  No
      Rights as Stockholder.
      Except
      as set forth in Section 6, until the exercise of this Warrant, the Registered
      Holder of this Warrant shall not have or exercise any rights by virtue hereof
      as
      a stockholder of the Company.

    

    12.  Successors.
      The
      rights and obligations of the parties to this Warrant will inure to the benefit
      of and be binding upon the Company and any transferees of Warrant
      Holder.

    

    13.  Change
      or Waiver.
      Any
      term of this Warrant may be changed or waived only by an instrument in writing
      signed by the party against which enforcement of the change or waiver is
      sought.

    

    14.  Headings.
      The
      headings in this Warrant are for purposes of reference only and shall not limit
      or otherwise affect the meaning of any provision of this Warrant.

    

    15.  Governing
      Law.
      This
      Warrant shall be governed by and construed in accordance with the laws of the
      State of New York as such laws are applied to contracts made and to be fully
      performed entirely within that state between residents of that
      state.

    

    16.  Jurisdiction
      and Venue.
      The
      Company (i) agrees that any legal suit, action or proceeding arising out of
      or
      relating to this Warrant shall be instituted exclusively in New York State
      Supreme Court, County of New York or in the United States District Court for
      the
      Southern District of New York, (ii) waives any objection to the venue of any
      such suit, action or proceeding and the right to assert that such forum is
      not a
      convenient forum for such suit, action or proceeding, and (iii) irrevocably
      consents to the jurisdiction of the New York State Supreme Court, County of
      New
      York, and the United States District Court for the Southern District of New
      York
      in any such suit, action or proceeding, and the Company further agrees to accept
      and acknowledge service or any and all process which may be served in any such
      suit, action or proceeding in New York State Supreme Court, County of New York
      or in the United States District Court for the Southern District of New York
      and
      agrees that service of process upon it mailed by certified mail to its address
      shall be deemed in every respect effective service of process upon it in any
      suit, action or proceeding.

    

    
      
        
        

      

      
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    17.  Mailing
      of Notices, etc.
      All
      notices and other communications under this Warrant (except payment) shall
      be in
      writing and shall be sufficiently given if sent to the Registered Holder or
      the
      Company, as the case may be, by hand delivery, private overnight courier, with
      acknowledgment of receipt, or by registered or certified mail, return receipt
      requested, as follows:

    

    

    Registered
      Holder:  To
      Registered Holder's address as provided on the Subscription Agreement or
      otherwise in the Company’s Records.

     

    The
      Company: To
      the
      Company's Principal Executive Offices Attention: President

    

    or
      to
      such other address as any of them, by notice to the others may designate from
      time to time. Time shall be counted to, or from, as the case may be, the date
      of
      delivery in person or by overnight courier or five (5) business days after
      mailing.

    

    

    AGFEED
      INDUSTRIES, INC.

    

    By:_________________________________

    Name:

    Title:

    
      
        
        

      

      
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    EXHIBIT
      1

    

    NOTICE
      OF EXERCISE

    

    Date:
      __________________

    

    TO:         
      AgFeed
      Industries, Inc.

    1095
      Qing
      Lan Avenue

    Economic
      and Technical Development Zone

    Nan
      Chang
      City, Jiangxi Province

    China
      330013

    Attn:
      Attn: Mr. Junhong
      Xiong, CEO

    

    

    1.
      The
      undersigned hereby elects to purchase _______ shares of the Common Stock of
      AgFeed Industries, Inc., pursuant to terms of the attached Warrant, and tenders
      herewith payment of $_______ (at the rate of $__ per share of Common Stock)
      in
      payment of the Exercise Price(s) pursuant thereto, together with all applicable
      transfer taxes, if any.

    

    The
      undersigned hereby elects to purchase ____ shares of Common Stock of AgFeed
      Industries, Inc. by surrender of the unexercised portion of the attached Warrant
      (with a "Value" of $ based on a "Market Price" of $_______).

    

    2.
      Please
      issue a certificate or certificates representing said shares of the Common
      Stock
      in the name of the undersigned or in such other name as is specified
      below.

    

    

    ___________________________________

    Signature
      of Registered Holder

    

    Print
      Name: _________________________

    Notice:
      The signature to this form must correspond with the name as written upon the
      face of the within Warrant in every particular without alteration or enlargement
      or any change whatsoever.

    

    INSTRUCTIONS
      FOR REGISTRATION OF SECURITIES

    

    
      	Name:________________________________________________________________________	 
	
              (Print
                in Block Letters

            	 

    

     

    

    Address:
      ______________________________________________________________________

    

    
      
        
        

      

      
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    EXHIBIT
      2

    

    [To
      be
      completed and signed only upon transfer of Warrant]

    

    FOR
      VALUE
      RECEIVED, the undersigned hereby sells, assigns and transfers unto
      ________________________________ the right represented by the within Warrant
      to
      purchase ____________ shares of Common Stock of AgFeed Industries, Inc. to
      which
      the within Warrant relates and appoints ________________ attorney to transfer
      said right on the books of AgFeed Industries, Inc. with full power of
      substitution in the premises.

    

    Dated:

    

    _______________,
      ____

    

    

    _______________________________________

    (Signature
      must conform in all respects to name

    of
      holder
      as specified on the face of the Warrant)

    

    

    _______________________________________

    Address
      of Transferee

    

    _______________________________________

    

    _______________________________________

    

    

    

    In
      the
      presence of:

    

    

    __________________________

     

     

    
      
        
        

      

      
        10AGFEED
        INDUSTRIES, INC.

      

      REGISTRATION
        RIGHTS AGREEMENT

       

      This
        REGISTRATION RIGHTS AGREEMENT (the “Agreement”), dated as of February __, 2007,
        is made by and between AGFEED INDUSTRIES, INC., a Nevada corporation (the
        “Company”), and the individuals and entities whose names are set forth on the
        signature page hereto (each an “Investor” or “Holder”, and collectively the
“Investors” or the “Holders”).

      

      WHEREAS,
        in connection with those certain Subscription Agreements by and among the
        Company and the Investors (the “Subscription Agreement”), the Company
        desires to sell to the Investors, and the Investors desire to purchase from
        the
        Company units of (a) shares of the Company’s common stock, $0.001 par value per
        share (the “Common Stock”); and (b) Warrants to purchase additional shares of
        Common Stock (the “Warrants”) equal to 8% of the Common Stock initially
        purchased. 

      

      WHEREAS,
        to induce the Investors to purchase the Common Stock and Warrants, the Company
        has agreed to register the shares of Common Stock purchased and the Common
        Stock
        underlying the Warrants pursuant to the terms of this Agreement; 

      

      NOW,
        THEREFORE, the Company and the Investors hereby covenant and agree as
        follows:

       

      1. Certain
        Definitions.
        As used
        in this Agreement, the following terms shall have the following respective
        meanings: 

       

      “Commission”
        shall mean the Securities and Exchange Commission, or any other federal agency
        at the time administering the Securities Act. 

       

      “Common
        Stock” shall mean the common stock, par value $0.001 per share, of the
        Company.

      

      “Effectiveness
        Date” shall mean that date which is
        one
        hundred eighty (180) days following the final closing of the Offering described
        in the Subscription Agreement.

      

      “Exchange
        Act” shall mean the Securities Exchange Act of 1934, as amended, and the rules
        and regulations of the Commission thereunder, all as the same shall be in
        effect
        at the time. 

      

      “Filing
        Date” shall mean that date which is sixty (60) days following the final closing
        of the Offering described in the Subscription Agreement.

      

      “Offering”
        shall refer to the Company’s proposal to sell Units
        for
        $3, representing the purchase of (i) one share of Common Stock of AgFeed
        and
        (ii) a three (3) year Warrant to purchase Common Stock of AgFeed with an
        initial
        exercise price of $5.00 (8% coverage). The total amount of Units being offered
        is 2,750,000 for a total maximum purchase price of $8,250,000 USD.

       

      
        
          
          

        

        
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      “Register,”
        “registered” and “registration” each shall refer to a registration effected by
        preparing and filing a Registration Statement or statements or similar documents
        in compliance with the Securities Act and the declaration or ordering of
        effectiveness of such Registration Statement or document by the Commission.
        

      

      “Registrable
        Securities” shall mean the shares of Common Stock issuable pursuant to the
        Subscription Agreement as part of the initial purchase or upon the exercise
        of
        the Warrants delivered as part of the Offering; provided,
        however,
        that
        shares of Common Stock which are Registrable Securities shall cease to be
        Registrable Securities (x) upon any sale pursuant to a Registration
        Statement or Rule 144 under the Securities Act or (y) at such time, as they
        become eligible for sale pursuant to Rule 144(k) under the Securities Act
        or
        another similar exemption under the Securities Act. 

       

      “Securities
        Act” shall mean the Securities Act of 1933, as amended, and the rules and
        regulations of the Commission thereunder, all as the same shall be in effect
        at
        the applicable time. 

      

      Capitalized
        terms used but not defined herein shall have the meanings set forth in the
        Subscription Agreement or the Warrants. 

       

      	2.  	
              Automatic
                Registration

            

      

      (a)  On
        or
        prior to the Filing Date, the Company shall prepare and file with the Commission
        the Registration Statement covering the resale of all of the Registrable
        Securities for an offering to be made on a continuous basis pursuant to Rule
        415. The Registration Statement required hereunder shall be on Form S3 (except
        if the Company is not then eligible to register for resale the Registrable
        Securities on Form S3, in which case the Registration Statement shall be
        on
        another appropriate form). Subject to the terms of this Agreement, the Company
        shall use its commercially reasonable efforts to cause the Registration
        Statement to be declared effective under the Securities Act as promptly as
        possible after the filing thereof, but in any event not later than the
        Effectiveness Date, and shall use its commercially reasonable efforts to
        keep
        the Registration Statement continuously effective under the Securities Act
        until
        the date when all Registrable Securities covered by the Registration Statement
        have been sold or may be sold without volume restrictions pursuant to Rule
        144(k) as determined by the counsel to the Company pursuant to a written
        opinion letter to such effect, addressed and acceptable to the Company’s
        transfer agent and the affected Holders (the “Effectiveness
        Period”).

       

      (b)  If:
        (i) a Registration Statement is not filed on or prior to the Filing Date,
        or (ii) the Company fails to file with the Commission a request for
        acceleration in accordance with Rule 461 promulgated under the Securities
        Act,
        within 5 trading days of the date that the Company is notified (orally or
        in
        writing, whichever is earlier) by the Commission that a Registration Statement
        will not be “reviewed,” or is not subject to further review, or (iii) prior
        to the date when such Registration Statement is first declared effective
        by the
        Commission, the Company fails to file a pre-effective amendment and otherwise
        respond in writing to comments made by the Commission in respect of such
        Registration Statement within 15 trading days after the receipt of comments
        by
        or notice from the Commission that such amendment is required in order for
        a
        Registration Statement to be declared effective, or (iv) a Registration
        Statement filed or required to be filed hereunder is not declared effective
        by
        the Commission on or before the Effectiveness Date as a result of the failure
        of
        Company to meets its obligations with respect to such filing as provided
        for
        herein, or (v) after a Registration Statement is first declared effective
        by the Commission, it ceases for any reason to remain continuously effective
        as
        to all Registrable Securities for which it is required to be effective, or
        the
        Holders are not permitted to utilize the Prospectus therein to resell such
        Registrable Securities, for in any such case 15 consecutive trading days
        but no
        more than an aggregate of 25 trading days during any 12-month period (which
        need
        not be consecutive trading days) (any such failure or breach being referred
        to
        as an “Event,”
and
        for purposes of clause (i) or (iv) the date on which such Event
        occurs, or for purposes of clause (ii) the date on which such 5 trading day
        period is exceeded, or for purposes of clause (iii) the date which such 15
        trading day period is exceeded, or for purposes of clause (v) the date on
        which such 15- or 25-day period, as applicable, is exceeded being referred
        to as
“Event
        Date”),
        then
        in addition to any other rights the Holders may have hereunder or under
        applicable law: (x) on the first Event Date to occur the Company shall pay
        to each Holder an amount in cash, as liquidated damages and not as a penalty,
        equal to 2.0% of the aggregate purchase price paid by such Holder pursuant
        to
        the Subscription Agreement for any Registrable Securities then held by such
        Holder; and (y) on each anniversary of such Event Date (if the applicable
        Event, or any subsequent Event, shall not have been cured by such date) until
        all Event(s) are cured, the Company shall pay to each Holder an amount in
        cash,
        as liquidated damages and not as a penalty, equal to 2.0% of the aggregate
        purchase price paid by such Holder pursuant to the Subscription Agreement
        for
        any Registrable Securities then held by such Holder. If the Company fails
        to pay
        any liquidated damages pursuant to this Section in full within seven days
        after the date payable, the Company will pay interest thereon at a rate of
        15%
        per annum (or such lesser maximum amount that is permitted to be paid by
        applicable law) to the Holder, accruing daily from the date such liquidated
        damages are due until such amounts, plus all such interest thereon, are paid
        in
        full. The liquidated damages pursuant to the terms hereof shall apply on
        a daily
        pro-rata basis for any portion of a year prior to the cure of an
        Event.

       

      
        
          
          

        

        
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      3. Registration
        Procedures.
        If and
        whenever the Company is required by the provisions of Section 2 hereof to
        use
        its commercially reasonable efforts to effect the registration of any
        Registrable Securities under the Securities Act, the Company will, as
        expeditiously as possible:

       

      (a) prepare
        and file with the Commission the Registration Statement with respect to such
        securities and use its reasonable best efforts to cause such Registration
        Statement to become effective in an expeditious manner; 

       

      (b) prepare
        and file with the Commission such amendments and supplements to such
        Registration Statement and the prospectus used in connection therewith as
        may be
        necessary to keep such Registration Statement continuously effective during
        the
        Effectiveness Period and comply with the provisions of the Securities Act
        with
        respect to the disposition of all Registrable Securities covered by such
        Registration Statement in accordance with the intended method of disposition
        set
        forth in such Registration Statement for such period;

       

      (c) furnish
        to each seller of Registrable Securities and to each underwriter such number
        of
        copies of the Registration Statement and the prospectus included therein
        (including each preliminary prospectus) as such persons reasonably may request
        in order to facilitate the intended disposition of the Registrable Securities
        covered by such Registration Statement; 

       

      
        
          
          

        

        
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      (d) use
        its
        commercially reasonable efforts (i) to register or qualify the Registrable
        Securities covered by such Registration Statement under the securities or
“blue
        sky” laws of such jurisdictions as the sellers of Registrable Securities or, in
        the case of an underwritten public offering, the managing underwriter,
        reasonably shall request, (ii) to prepare and file in those jurisdictions
        such
        amendments (including post-effective amendments) and supplements, and take
        such
        other actions, as may be necessary to maintain such registration and
        qualification in effect at all times for the period of distribution contemplated
        thereby and (iii) to take such further action as may be necessary or advisable
        to enable the disposition of the Registrable Securities in such jurisdictions,
        provided,
        that
        the Company shall not for any such purpose be required to qualify generally
        to
        transact business as a foreign corporation in any jurisdiction where it is
        not
        so qualified or to consent to general service of process in any such
        jurisdiction; 

       

      (e) use
        its
        commercially reasonable efforts to list the Registrable Securities covered
        by
        such Registration Statement with any securities exchange on which the Common
        Stock of the Company is then listed; 

       

      (f) immediately
        notify each seller of Registrable Securities and each underwriter under such
        Registration Statement, at any time when a prospectus relating thereto is
        required to be delivered under the Securities Act, of the happening of any
        event
        of which the Company has knowledge as a result of which the prospectus contained
        in such Registration Statement, as then in effect, includes any untrue statement
        of a material fact or omits to state a material fact required to be stated
        therein or necessary to make the statements therein not misleading in light
        of
        the circumstances then existing and promptly amend or supplement such
        Registration Statement to correct any such untrue statement or omission;
        

       

      (g) promptly
        notify each seller of Registrable Securities of the issuance by the Commission
        of any stop order suspending the effectiveness of the Registration Statement
        or
        the initiation of any proceedings for that purpose and make every reasonable
        effort to prevent the issuance of any stop order and, if any stop order is
        issued, to obtain the lifting thereof at the earliest possible time;

       

      (h) if
        the
        offering is an underwritten offering, enter into a written agreement with
        the
        managing underwriter selected in the manner herein provided in such form
        and
        containing such provisions as are usual and customary in the securities business
        for such an arrangement between such underwriter and companies of the Company's
        size and investment stature, including, without limitation, customary
        indemnification and contribution provisions; 

       

      (i) if
        the
        offering is an underwritten offering, at the request of any seller of
        Registrable Securities, use its commercially reasonable efforts to furnish
        to
        such seller on the date that Registrable Securities are delivered to the
        underwriters for sale pursuant to such registration: (i) a copy of an opinion
        dated such date of counsel representing the Company for the purposes of such
        registration, addressed to the underwriters, stating that such Registration
        Statement has become effective under the Securities Act and that (A) to the
        knowledge of such counsel, no stop order suspending the effectiveness thereof
        has been issued and no proceedings for that purpose have been instituted
        or are
        pending or contemplated under the Securities Act, (B) the Registration
        Statement, the related prospectus and each amendment or supplement thereof
        comply as to form in all material respects with the requirements of the
        Securities Act (except that such counsel need not express any opinion as
        to
        financial statements or other financial or statistical information contained
        therein) and (C) to such other effects as reasonably may be requested by
        counsel
        for the underwriters; and (ii) a copy of a letter dated such date from the
        independent public accountants retained by the Company, addressed to the
        underwriters, stating that they are independent public accountants within
        the
        meaning of the Securities Act and that, in the opinion of such accountants,
        the
        financial statements of the Company included in the Registration Statement
        or
        the prospectus, or any amendment or supplement thereof, comply as to form
        in all
        material respects with the applicable accounting requirements of the Securities
        Act, and such letter shall additionally cover such other financial matters
        (including information as to the period ending no more than five business days
        prior to the date of such letter) with respect to such registration as such
        underwriters reasonably may request; 

       

      
        
          
          

        

        
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      (j) take
        all
        actions reasonably necessary to facilitate the timely preparation and delivery
        of certificates (not bearing any legend restricting the sale or transfer
        of such
        securities) representing the Registrable Securities to be sold pursuant to
        the
        Registration Statement and to enable such certificates to be in such
        denominations and registered in such names as the Investors or any underwriters
        may reasonably request; and 

       

      (k) take
        all
        other reasonable actions necessary to expedite and facilitate the registration
        of the Registrable Securities pursuant to the Registration Statement.

       

      4. Obligations
        of Holders.
        Each
        holder of Registrable Securities shall furnish to the Company such information
        regarding such holder, the number of Registrable Securities owned and proposed
        to be sold by it, the intended method of disposition of such securities and
        any
        other information as shall be required to effect the registration of the
        Registrable Securities, and cooperate with the Company in preparing the
        Registration Statement and in complying with the requirements of the Securities
        Act.

      

      5. Expenses.

      

      (a) All
        expenses incurred by the Company in complying with Sections 2 and 3 including,
        without limitation, all registration and filing fees (including the fees
        of the
        Securities and Exchange Commission and any other regulatory body with which
        the
        Company is required to file), printing expenses, fees and disbursements of
        counsel and independent public accountants for the Company, fees and expenses
        (including counsel fees) incurred in connection with complying with state
        securities or “blue sky” laws, fees of transfer agents and registrars and fees
        and disbursements of one counsel for the holders of Registrable Securities,
        not
        to exceed $5,000, but excluding any Selling Expenses, are called “Registration
        Expenses.” All underwriting discounts and selling commissions applicable to the
        sale of Registrable Securities are called “Selling Expenses.” 

       

      
        
          
          

        

        
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      (b) The
        Company will pay all Registration Expenses in connection with any Registration
        Statement filed hereunder, and the Selling Expenses in connection with each
        such
        Registration Statement shall be borne by the participating sellers in proportion
        to the number of Registrable Securities sold by each or as they may otherwise
        agree. 

       

      6. Indemnification
        and Contribution.
         

       

      (a) In
        the
        event of a registration of any of the Registrable Securities under the
        Securities Act pursuant to the terms of this Agreement, the Company will
        indemnify and hold harmless and pay and reimburse, each seller of such
        Registrable Securities thereunder, each underwriter of such Registrable
        Securities thereunder and each other person, if any, who controls such seller
        or
        underwriter within the meaning of the Securities Act, against any losses,
        claims, damages or liabilities, joint or several, to which such seller,
        underwriter or controlling person may become subject under the Securities
        Act or
        otherwise, insofar as such losses, claims, damages or liabilities (or actions
        in
        respect thereof) arise out of or are based upon any untrue statement or alleged
        untrue statement of any material fact contained in any Registration Statement
        under which such Registrable Securities were registered under the Securities
        Act
        pursuant hereto or any preliminary prospectus or final prospectus contained
        therein, or any amendment or supplement thereof, or arise out of or are based
        upon the 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 or alleged violation of the Securities Act or any state
        securities or blue sky laws and will reimburse each such seller, each such
        underwriter and each such controlling person for any legal or other expenses
        reasonably incurred by them in connection with investigating or defending
        any
        such loss, claim, damage, liability or action; provided, that the Company
        will
        not be liable in any such case if and to the extent that any such loss, claim,
        damage or liability arises out of or is based upon the Company's reliance
        on an
        untrue statement or alleged untrue statement or omission or alleged omission
        so
        made in conformity with information furnished by any such seller, any such
        underwriter or any such controlling person in writing specifically for use
        in
        such Registration Statement or prospectus. 

       

      (b) In
        the
        event of a registration of any of the Registrable Securities under the
        Securities Act pursuant hereto each seller of such Registrable Securities
        thereunder, severally and not jointly, will indemnify and hold harmless the
        Company, each person, if any, who controls the Company within the meaning
        of the
        Securities Act, each officer of the Company who signs the Registration
        Statement, each director of the Company, each underwriter and each person
        who
        controls any underwriter within the meaning of the Securities Act, against
        all
        losses, claims, damages or liabilities, joint or several, to which the Company
        or such officer, director, underwriter or controlling person may become subject
        under the Securities Act or otherwise, insofar as such losses, claims, damages
        or liabilities (or actions in respect thereof) arise out of or are based
        upon
        reliance on any untrue statement or alleged untrue statement of any material
        fact contained in the Registration Statement under which such Registrable
        Securities were registered under the Securities Act pursuant hereto or any
        preliminary prospectus or final prospectus contained therein, or any amendment
        or supplement thereof, or arise out of or are based upon the 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 each such officer, director, underwriter and controlling person
        for
        any legal or other expenses reasonably incurred by them in connection with
        investigating or defending any such loss, claim, damage, liability or action,
        provided, that such seller will be liable hereunder in any such case if and
        only
        to the extent that any such loss, claim, damage or liability arises out of
        or is
        based upon an untrue statement or alleged untrue statement or omission or
        alleged omission made in reliance upon and in conformity with information
        pertaining to such seller, as such, furnished in writing to the Company by
        such
        seller specifically for use in such Registration Statement or prospectus,
        and
        provided, that the liability of each seller hereunder shall be limited to
        the
        proceeds received by such seller from the sale of Registrable Securities
        covered
        by such Registration Statement. Notwithstanding the foregoing, the indemnity
        provided in this Section 6(b) shall not apply to amounts paid in settlement
        of
        any such loss, claim, damage, liability or expense if such settlement is
        effected without the consent of such indemnified party and provided further,
        that the Company shall not be liable in any such case to the extent that
        any
        such loss, claim, damage or liability (or action in respect thereof) arises
        out
        of or is based upon an untrue statement or alleged untrue statement or omission
        or alleged omission in such Registration Statement, which untrue statement
        or
        alleged untrue statement or omission or alleged omission is completely corrected
        in an amendment or supplement to the Registration Statement and the undersigned
        indemnitees thereafter fail to deliver or cause to be delivered such
        Registration Statement as so amended or supplemented prior to or concurrently
        with the sale of the Registrable Securities to the person asserting such
        loss,
        claim, damage or liability (or actions in respect thereof) or expense after
        the
        Company has furnished the undersigned with the same. 

       

      
        
          
          

        

        
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      (c) Promptly
        after receipt by an indemnified party hereunder of notice of the commencement
        of
        any action, such indemnified party shall, if a claim in respect thereof is
        to be
        made against the indemnifying party hereunder, notify the indemnifying party
        in
        writing thereof, but the omission so to notify the indemnifying party shall
        not
        relieve it from any liability which it may have to such indemnified party
        other
        than under this Section 6 and shall only relieve it from any liability which
        it
        may have to such indemnified party under this Section 6 if and to the extent
        the
        indemnifying party is materially prejudiced by such omission. In case any
        such
        action shall be brought against any indemnified party and it shall notify
        the
        indemnifying party of the commencement thereof, the indemnifying party shall
        be
        entitled to participate in and, to the extent it shall wish, to assume and
        undertake the defense thereof with counsel reasonably satisfactory to such
        indemnified party, and, after notice from the indemnifying party to such
        indemnified party of its election so to assume and undertake the defense
        thereof, the indemnifying party shall not be liable to such indemnified party
        under this Section 6 for any legal expenses subsequently incurred by such
        indemnified party in connection with the defense thereof other than reasonable
        costs of investigation and of liaison with counsel so selected, provided,
        that if
        the defendants in any such action include both the indemnified party and
        the
        indemnifying party and the indemnified party shall have reasonably concluded
        based upon written advise of its counsel that there may be reasonable defenses
        available to it which are different from or additional to those available
        to the
        indemnifying party or if the interests of the indemnified party reasonably
        may
        be deemed to conflict with the interests of the indemnifying party, the
        indemnified party shall have the right to select a separate counsel and to
        assume such legal defenses and otherwise to participate in the defense of
        such
        action, with the expenses and fees of such separate counsel and other expenses
        related to such participation to be reimbursed by the indemnifying party
        as
        incurred. 

       

      
        
          
          

        

        
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      (d) In
        order
        to provide for just and equitable contribution to joint liability under the
        Securities Act in any case in which either (i) any holder of Registrable
        Securities exercising rights under this Agreement, or any controlling person
        of
        any such holder, makes a claim for indemnification pursuant to this Section
        6
        but it is judicially determined (by the entry of a final judgment or decree
        by a
        court of competent jurisdiction and the expiration of time to appeal or the
        denial of the last right of appeal) that such indemnification may not be
        enforced in such case notwithstanding the fact that this Section 6 provides
        for
        indemnification in such case, or (ii) contribution under the Securities Act
        may
        be required on the part of any such selling holder or any such controlling
        person in circumstances for which indemnification is provided under this
        Section
        6; then, and in each such case, the Company and such holder will contribute
        to
        the aggregate losses, claims, damages or liabilities to which they may be
        subject (after contribution from others) in such proportion so that such
        holder
        is responsible for the portion represented by the percentage that the public
        offering price of its Registrable Securities offered by the Registration
        Statement bears to the public offering price of all securities offered by
        such
        Registration Statement, and the Company is responsible for the remaining
        portion; provided,
        that,
        in any such case, (A) no such holder will be required to contribute any amount
        in excess of the public offering price of all such Registrable Securities
        offered by it pursuant to such Registration Statement and (B) no person or
        entity guilty of fraudulent misrepresentation (within the meaning of Section
        12(f) of the Securities Act) will be entitled to contribution from any person
        or
        entity who was not guilty of such fraudulent misrepresentation. 

       

      7. Changes
        in Capital Stock.
         If,
        and
        as often as, there is any change in the capital stock of the Company by way
        of a
        stock split, stock dividend, combination or reclassification, or through
        a
        merger, consolidation, reorganization or recapitalization, or by any other
        means, appropriate adjustment shall be made in the provisions hereof so that
        the
        rights and privileges granted hereby shall continue as so changed.

      

      8. Representations
        and Warranties of the Company.
        The
        Company represents and warrants to the Investor as follows: 

       

      (a) The
        execution, delivery and performance of this Agreement by the Company have
        been
        duly authorized by all requisite corporate action and will not violate any
        provision of law, any order of any court or other agency of government, the
        Articles of Incorporation or By-laws of the Company or any provision of any
        indenture, agreement or other instrument to which it or any or its properties
        or
        assets is bound, conflict with, result in a breach of or constitute (with
        due
        notice or lapse of time or both) a default under any such indenture, agreement
        or other instrument or result in the creation or imposition of any lien,
        charge
        or encumbrance of any nature whatsoever upon any of the properties or assets
        of
        the Company or its subsidiaries. 

       

      (b) This
        Agreement has been duly executed and delivered by the Company and constitutes
        the legal, valid and binding obligation of the Company, enforceable in
        accordance with its terms, subject to any applicable bankruptcy, insolvency
        or
        other laws affecting the rights of creditors generally and to general equitable
        principles and the availability of specific performance. 

       

      
        
          
          

        

        
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      9. Assignment
        of Registration Rights.
        The
        rights to have the Company register Registrable Securities pursuant to this
        Agreement may be assigned by the Investor to transferees or assignees of
        such
        securities; provided,
        that
        the Company is, within a reasonable time after such transfer, furnished with
        written notice of the name and address of such transferee or assignee and
        the
        securities with respect to which such registration rights are being assigned.
        The term “Investor” as used in this Agreement shall include such permitted
        assigns. 

      

      10. Rule
        144 Requirements.
        The
        Company agrees to:

      

      (a) make
        and
        keep current public information about the Company available, as those terms
        are
        understood and defined in Rule 144;

      

      (b) use
        its
commercially
        reasonable
        efforts
        to file with the Commission in a timely manner all reports and other documents
        required of the Company under the Securities Act and the Exchange Act (at
        any
        time after it has become subject to such reporting requirements);
        and

      

      (c) furnish
        to any holder of Registrable Securities upon request (i) a written statement
        by
        the Company as to its compliance with the reporting requirements of Rule
        144 and
        of the Securities Act and the Exchange Act (at any time after it has become
        subject to such reporting requirements), (ii) a copy of the most recent annual
        or quarterly report of the Company, and (iii) such other reports and documents
        of the Company as such holder may reasonably request to avail itself of any
        similar rule or regulation of the Commission allowing it to sell any such
        securities without registration.

      

      11. Termination.
        All of
        the Company’s obligations to register Registrable Shares under Sections 2 and 3
        hereto shall terminate upon the date on which no Investor holds any Registrable
        Securities or all of the Registrable Shares are eligible for sale under rule
        144(k). 

      

      

      12. Miscellaneous.
        

       

      (a) All
        covenants and agreements contained in this Agreement by or on behalf of any
        of
        the parties hereto shall bind and inure to the benefit of the respective
        successors and assigns of the parties hereto (including without limitation
        transferees of any Registrable Securities), whether so expressed or not.
        

       

      (b) All
        notices, requests, consents and other communications hereunder shall be in
        writing and shall be delivered in person, mailed by certified or registered
        mail, return receipt requested, or sent by telecopier, addressed (i) if to
        the
        Company, at AgFeed Industries, Inc., 1095 Qing Lan Avenue, Economic and
        Technical Development Zone, Nan Chang City, Jiangxi, Province, China 330013,
        Attn: Attn: Mr. Junhong
        Xiong, CEO, phone 86-0791-2189878, facsimile 86-20-87785878;
        and
        (ii) if to any holder of Registrable Securities, to it at such address as
        may
        have been furnished to the Company in writing by such holder; or, in any
        case,
        at such other address or addresses as shall have been furnished in writing
        to
        the Company (in the case of a holder of Registrable Securities) or to the
        holders of Registrable Securities (in the case of the Company) in accordance
        with the provisions of this paragraph. 

       

      
        
          
          

        

        
          Page
            9 of
            12

          
            

          

        

        
          
          

        

      

       

      (c) This
        Agreement shall be governed by and construed under the laws of the State
        of New
        York as applied to agreements among New York residents entered into and to
        be
        performed entirely within New York. The Company (1) agrees that any legal
        suit,
        action or proceeding arising out of or relating to this Agreement shall be
        instituted exclusively in New York State Supreme Court, County of New York,
        or
        in the United States District Court for the Southern District of New York,
        (2)
        waives any objection which the Company may have now or hereafter to the venue
        of
        any such suit, action or proceeding, and (3) irrevocably consents to the
        jurisdiction of the New York State Supreme Court, County of New York, and
        the
        United States District Court for the Southern District of New York in any
        such
        suit, action or proceeding. The Company further agrees to accept and acknowledge
        service of any and all process which may be served in any such suit, action
        or
        proceeding in the New York State Supreme Court, County of New York, or in
        the
        United States District Court for the Southern District of New York and agrees
        that service of process upon the Company mailed by certified mail to the
        Company's address shall be deemed in every respect effective service of process
        upon the Company, in any such suit, action or proceeding. THE PARTIES HERETO
        AGREE TO WAIVE THEIR RESPECTIVE RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE
        OF
        ACTION BASED UPON OR ARISING OUT OF THIS AGREEMENT OR ANY DOCUMENT OR AGREEMENT
        CONTEMPLATED HEREBY. 

       

      (d) In
        the
        event of a breach by the Company or by a Holder, of any of their obligations
        under this Agreement, each Holder or the Company, as the case may be, in
        addition to being entitled to exercise all rights granted by law and under
        this
        Agreement, including recovery of damages, will be entitled to specific
        performance of its rights under this Agreement. The Company and each Holder
        agree that monetary damages would not provide adequate compensation for any
        losses incurred by reason of a breach by it of any of the provisions of this
        Agreement and hereby further agrees that, in the event of any action for
        specific performance in respect of such breach, it shall waive the defense
        that
        a remedy at law would be adequate.

      

      (e) This
        Agreement may not be amended or modified without the written consent of the
        Company and the holders of at least a majority of the Registrable Securities.
        

       

      (f) Failure
        of any party to exercise any right or remedy under this Agreement or otherwise,
        or delay by a party in exercising such right or remedy, shall not operate
        as a
        waiver thereof. No waiver shall be effective unless and until it is in writing
        and signed by the party granting the waiver. 

       

      (g) This
        Agreement may be executed in two or more counterparts, each of which shall
        be
        deemed an original, but all of which together shall constitute one and the
        same
        instrument. This Agreement, once executed by a party, may be delivered to
        the
        other party hereto by facsimile transmission of a copy of this Agreement
        bearing
        the signature of the party so delivering this Agreement. 

       

      
        
          
          

        

        
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            10
            of 12

          
            

          

        

        
          
          

        

      

       

      (h) If
        any
        provision of this Agreement shall be held to be illegal, invalid or
        unenforceable, such illegality, invalidity or unenforceability shall attach
        only
        to such provision and shall not in any manner affect or render illegal, invalid
        or unenforceable any other provision of this Agreement, and this Agreement
        shall
        be carried out as if any such illegal, invalid or unenforceable provision
        were
        not contained herein. 

      

      (i) This
        Agreement constitutes the entire contract among the Company and the Investors
        relative to the subject matter hereof and supersedes in its entirety any
        and all
        prior agreements, understandings and discussions with respect
        thereto.

      

      (j)
         The
        headings of the sections of this Agreement are for convenience and shall
        not by
        themselves determine the interpretation of this Agreement.

      

      (k) The
        obligations of each Holder hereunder are several and not joint with the
        obligations of any other Holder hereunder, and no Holder shall be responsible
        in
        any way for the performance of the obligations of any other Holder hereunder.
        Nothing contained herein or in any other agreement or document delivered
        at any
        closing pursuant to the Subscription Agreement, and no action taken by any
        Holder pursuant hereto or thereto, shall be deemed to constitute the Holders
        as
        a partnership, an association, a joint venture or any other kind of entity,
        or
        create a presumption that the Holders are in any way acting in concert with
        respect to such obligations or the transactions contemplated by this Agreement.
        

      

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

      

      

      AGFEED
        INDUSTRIES, INC.

      

      

      By:________________________________

      Name:

      Title:
        

      
        
          
          

        

        
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      LIST
        OF
        INVESTORS

      

      

      INVESTOR
        NAME PER SUBSCRIPTION DOCUMENT SIGNATURE PAGE

      

      

      
        
          
          

        

        
          Page
            12
            of 12

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