Document:

DESIGNATION AGREEMENT

 

THIS DESIGNATION AGREEMENT
(this “Agreement”) is entered into as of June 30, 2011, by and among General Red Company, Ltd., a company incorporated
under the laws of the British Virgin Islands (“General Red BVI”), Xingguo General Red Navel Orange Preservation
Company, Ltd., a limited liability company organized under the laws of the People’s Republic of China (“PRC”)
(“Xingguo”) and the majority shareholder of Xingguo (“Shareholder”), and Sheng Da Holdings
Limited, a company incorporated under the laws of British Virgin Islands (“Sheng Da BVI”, and with General Red
BVI, Xingguo and Shareholders collectively referred to as the “Parties”)

 

WHEREAS, in connection
with a certain Consulting Services Agreement dated as of November 17, 2008 (the “Consulting Agreement”), General
Red BVI entered into the Proxy Agreement with Xingguo and Shareholder;

 

WHEREAS, General Red
BVI, Xingguo, Shareholder and Sheng Da BV1 have entered into an agreement dated as of even date herewith, whereby General Red BV1
has transferred the Consulting Agreement and assigned all of its rights and obligations under Consulting Agreement to Sheng Da
BVI;

 

WHEREAS, in connection
with the assignment of the Agreement, General Red BVI desires to assign to Sheng Da BVI all of General Red BVI’s rights under
the Proxy Agreement, including the right to designate the person that the Chairman and the Shareholders have agreed to entrust
their respective voting rights as shareholders of Xingguo without any limitations, and Sheng Da BVI desires assume such rights;

 

NOW, THEREFORE, in
consideration of the foregoing recitals and the mutual agreements herein contained and for other good and valuable consideration,
the parties hereto agree as follows:

 

A.               
DESIGNATION.

 

(1)              
General Red BVI hereby assigns all of its rights and obligations pursuant to the Proxy Agreement to Sheng Da BVI,
including without limitation, the right to designate the person that the Chairman and the Shareholders have agreed to entrust their
respective voting rights as shareholders of Xingguo without any limitations, and Xingguo hereby accepts such assignment.

 

(2)              
Xingguo and Shareholder hereby agree General Red BVI assigns all of its rights and obligations pursuant to the Proxy
Agreement to Sheng Da BVI pursuant to Section 1 of this Agreement.

 

(3)              
Xingguo shall cooperate with General Red BVI and take all actions necessary to replace General Red BVI with
Sheng Da BV1.

 

    	

    	 

    
 

B.                
GENERAL PROVISIONS.

 

(1)              
Notices. All notices and other communications hereunder shall be in writing and shall be deemed to have been duly given if delivered personally, sent by overnight courier or mailed by registered or certified
mail (postage prepaid and return receipt requested) to the party to whom the same is so delivered, sent or mailed at addresses
as follows (or at such other address for a party as shall be specified by like notice):

 

If to General Red BVI:

 

General Red Company, Ltd.

 

		Address:	SHIRLEY TRUST COMPANY LIMITED, 90 Main Street, P.O. Box 3099, Road, Town, Tortola, British Virgin Islands.

 

Facsimile:

Attn:Director

 

If to Sheng Da BVI :

 

.Sheng Da Holdings Limited

		Address:	P.O. Box 957, Offshore Incorporation Centre, Road, Town, Tortola, British Virgin Islands

 

Facsimile:

Attn:Director

 

(2)              
Interpretation. The headings contained in this Agreement are for reference purposes only and shall not affect
in any way the meaning or interpretation of this Agreement. References to Sections and Articles refer to sections and articles
of this Agreement unless otherwise stated.

 

(3)              
Severability. If any term, provision, covenant or restriction of this Agreement is held by a court of competent
jurisdiction to be invalid, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions of this Agreement
shall remain in full force and effect and shall in no way be affected, impaired or invalidated and the parties shall negotiate
in good faith to modify this Agreement to preserve each party’s anticipated benefits under this Agreement.

 

(4)              
Miscellaneous. This Agreement (together with all other documents and instruments referred to herein): (a)
constitutes the entire agreement and supersedes all other prior agreements and undertakings, both written and oral, among the parties
with respect to the subject matter hereof; (b) except as expressly set forth herein, is not intended to confer upon any other person
any rights or remedies hereunder and (c) shall not be assigned by operation of law or otherwise, except as may be mutually agreed
upon by the parties hereto.

 

(5)              
Governing Law. This Agreement shall be governed by, and construed and enforced in accordance with, the laws
of the People’s Republic of China.

 

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(6)              
Counterparts and Facsimile Signatures. This Agreement may be executed in two or more counterparts, which together
shall constitute a single agreement. This Agreement and any documents relating to it may be executed and transmitted to any other
party by facsimile, which facsimile shall be deemed to be, and utilized in all respects as, an original, wet-inked manually executed
document.

 

(7)              
Amendment. This Agreement may be amended, modified or supplemented only by an instrument in writing executed
by General Red BVI and Sheng Da BVI.

 

(8)              
Parties In Interest. Except as otherwise provided herein, the terms and conditions of this Agreement shall
inure to the benefit of and be binding upon the respective heirs, legal representatives, successors and assigns of the parties
hereto.

 

(9)              
Waiver. No waiver by any party of any default or breach by another party of any representation, warranty,
covenant or condition contained in this Agreement shall be deemed to be a waiver of any subsequent default or breach by such party
of the same or any other representation, warranty, covenant or condition. No act, delay, omission or course of dealing on the part
of any party in exercising any right, power or remedy under this Agreement or at law or in equity shall operate as a waiver thereof
or otherwise prejudice any of such party’s rights, powers and remedies. All remedies, whether at law or in equity, shall
be cumulative and the election of any one or more shall not constitute a waiver of the right to pursue other available remedies.

 

 

[Remainder of page left blank intentionally.]

 

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SIGNATURE PAGE

 

IN WITNESS WHEREOF,
the Parties hereto have caused this Agreement to be duly executed by their legal representatives and duly authorized representatives
on their behalf as of the date first set forth above.

 

General Red BVI:

 

General Red Company, Ltd.

 

By: /s/ Xingping Hou

Name:HOU, Xingping

Title:Director

 

 

Sheng Da BV1:

 

Sheng Da Holding Limited

 

By: /s/ Xingping Hou

Name:HOU, Xing ping

Title:Director

 

 

Xingguo:

 

Xingguo General Red Navel Orange Preservation Company, Ltd.

 

By: /s/ Xingping Hou

Name:HOU, Xingping

Title:Executive Director

 

Shareholder:

 

Xingguo General Fruits Development Company, Ltd.

 

By: /s/ Xingping Hou

Name: HOU, Xingping

Title: Executive Director

 

    	4AGREEMENT TO TRANSFER OPTION AGREEMENT

 

THIS AGREEMENT TO TRANSFER
OPTION AGREEMENT (this “Agreement”) is entered into as of June 30, 2011, by and among General Red Company, Ltd., a
company incorporated under the laws of the British Virgin Islands (“General Red BVI”), Xingguo General Red Navel
Orange Preservation Company, Ltd., a limited liability company organized under the laws of the People’s Republic of China
(“PRC”) (“Xingguo”) and the majority shareholders of Xingguo (“Shareholder”),
and Sheng Da Holdings Limited, a company incorporated under the laws of British Virgin Islands (“Sheng Da BVI”,
and with General Red BVI, Xingguo and Shareholder collectively referred to As the “Parties”).

 

WHEREAS, in connection
with a certain Consulting Services Agreement dated as of November 17, 2008 (the “Consulting Agreement”), General
Red BVI entered into an Option Agreement dated as of even date therewith (the “Option Agreement”) with Xingguo
and Shareholder;

 

WHEREAS, General Red
BVI, Xinguo and Shareholder have entered into an agreement dated as of even date herewith, whereby General Red BVI has transferred
the Consulting Agreement and assigned all of its rights and obligations under Consulting Agreement to Sheng Da BV1;

 

WHEREAS, in connection
with the assignment of the Agreement, General Red BVI desires to transfer the Option Agreement, and assign all of its rights and
obligations thereunder, to Sheng Da BVI, and Sheng Da BVI desires to accept such transfer and assignment;

 

WHEREAS, Section 4.2
of the Option Agreement provides that General Red BVI may assign its rights and obligations under the Option Agreement pursuant
to a written notice to Xingguo and the Shareholder, and that no consent from Xingguo or from the Shareholder is required for such
assignment;

 

NOW, THEREFORE, in
consideration of the foregoing recitals and the mutual agreements herein contained and for other good and valuable consideration,
the parties hereto agree as follows:

 

A.TRANSFER
OF THE OPTION AGREEMENT.

 

(1)General
Red BVI hereby transfers the Option Agreement, and assigns all of its rights and obligations thereunder, to Sheng Da BVI, and Sheng
Da BVI hereby accepts such transfer and assignment (collectively the “Transfer”).

 

(2)In
accordance with Section 4.2 of the Option Agreement, General Red BVI shall notify Xingguo and the Shareholder of the Transfer pursuant
to a written notice, the form of which is attached hereto as Exhibit A.

 

(3)Sheng
Da BVI shall cooperate with General Red BVI, Xingguo and the Shareholder to take all such further actions as may be necessary to
effectuate the Transfer pursuant to this Agreement.

 

    	

    	 

    
 

B.GENERAL
PROVISIONS.

 

(1)Notices.
All notices and other communications hereunder shall be in writing and shall be deemed to have been duly given if delivered personally,
sent by overnight courier or mailed by registered or certified mail (postage prepaid and return receipt requested) to the party
to whom the same is so delivered, sent or mailed at addresses set forth as follows (or at such other address for a party as shall
be specified by like notice):

 

If to General Red 13V1:

 

General Red Company, Ltd.

		Address:	SHIRLEY TRUST COMPANY LIMITED, 90 Main Street, P.O. Box 3099, Road, Town, Tortola, British Virgin Islands.

 

Facsimile:

Attn:Director

 

If to Sheng Da BVI :

 

.Sheng Da Holdings Limited

		Address:	P.O. Box 957, Offshore Incorporation Centre, Road, Town, Tortola, British Virgin Islands

 

Facsimile:

Attn:Director

 

(2)Interpretation.
The headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation
of this Agreement. References to Sections and Articles refer to sections and articles of this Agreement unless otherwise stated.

 

(3)Severability.
If any term, provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction to be invalid, void
or unenforceable, the remainder of the terms, provisions, covenants and restrictions of this Agreement shall remain in full force
and effect and shall in no way be affected, impaired or invalidated and the parties shall negotiate in good faith to modify this
Agreement to preserve each party’s anticipated benefits under this Agreement.

 

(4)Miscellaneous.
This Agreement (together with all other documents and instruments referred to herein): (a) constitutes the entire agreement and
supersedes all other prior agreements and undertakings, both written and oral, among the parties with respect to the subject matter
hereof; (b) except as expressly set forth herein, is not intended to confer upon any other person any rights or remedies hereunder
and (c) shall not be assigned by operation of law or otherwise, except as may be mutually agreed upon by the parties hereto.

 

(5)Governing
Law. This Agreement shall be governed by, and construed and enforced in accordance with, the laws of the People’s Republic
of China.

 

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(6)Counterparts
and Facsimile Signatures. This Agreement may be executed in two or more counterparts, which together shall constitute a single
agreement. This Agreement and any documents relating to it may be executed and transmitted to any other party by facsimile, which
facsimile shall be deemed to be, and utilized in all respects as, an original, wet-inked manually executed document.

 

(7)Amendment.
This Agreement may be amended, modified or supplemented only by an instrument in writing executed by General Red BVI and Sheng
Da BVI.

 

(8)Parties
In Interest. Except as otherwise provided herein, the terms and conditions of this Agreement shall inure to the benefit of
and be binding upon the respective heirs, legal representatives, successors and assigns of the parties hereto.

 

(9)Waiver.
No waiver by any party of any default or breach by another party of any representation, warranty, covenant or condition contained
in this Agreement shall be deemed to be a waiver of any subsequent default or breach by such party of the same or any other representation,
warranty, covenant or condition. No act, delay, omission or course of dealing on the part of any party in exercising any right,
power or remedy under this Agreement or at law or in equity shall operate as a waiver thereof or otherwise prejudice any of such
party’s rights, powers and remedies. All remedies, whether at law or in equity, shall be cumulative and the election of any
one or more shall not constitute a waiver of the right to pursue other available remedies.

 

 

[Remainder of page left blank intentionally.]

 

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SIGNATURE PAGE

 

IN WITNESS WHEREOF,
the Parties hereto have caused this Agreement to be duly executed by their legal representatives and duly authorized representatives
on their behalf as of the date first set forth above.

 

 

General Red BVI:

 

General Red Company, Ltd.

 

By: /s/ Xingping Hou

Name:HOU, Xingping

Title:Director

 

 

Sheng Da BV1:

 

Sheng Da Holding Limited

 

By: /s/ Xingping Hou

Name:HOU, Xing ping

Title:Director

 

 

Xingguo:

 

Xingguo General Red Navel Orange Preservation Company, Ltd.

 

By: /s/ Xingping Hou

Name:HOU, Xingping

Title:Executive Director

 

Shareholder:

 

Xingguo General Fruits Development Company, Ltd.

 

By: /s/ Xingping Hou

Name:HOU, Xingping

Title:Executive Director

 

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EXHIBIT A

 

NOTICE OF TRANSFER AND ASSIGNMENT OF OPTION
AGREEMENT

 

		To:	The Executive Director of

Xingguo General Red Navel Orange Preservation Company,
Ltd.

The Shareholder of Xingguo General Red Navel Orange
Preservation Company, Ltd.

Signatory to the Option Agreement (“Shareholder”)

 

		From:	General Red Company, Ltd.

 

		Date:	June 30, 2011

 

Dear Executive Director:

 

This letter shall serve as formal notice of the transfer by
General Red BVI of that certain Option Agreement dated as of November 17, 2008 by and among General Red BVI, Xingguo and the Shareholder
(the “Option Agreement”). Effective as of June 30, 2011 (the “Transfer Date”), the Option Agreement shall
be deemed transferred, and all of General Red BV1’s rights and obligations thereunder assigned, to Sheng Da Holdings Limited,
a company incorporated under the laws of British Virgin Islands. The transfer and assignment is made pursuant Section 4.2 of the
Option Agreement. From and after the Transfer Date, Sheng Da BVI shall assume from General Red BVI all of its rights, powers, privileges
and obligations under the Option Agreement, and shall be entitled to all remedies thereunder.

 

Very sincerely,

 

General Red Company, Ltd.

 

By: /s/ Xingping Hou

Name:HOU, Xingping

Title:Director 

 

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