Document:

Unassociated Document

    Exhibit
4.6

     

    ESCROW
AGREEMENT

    

    This
Escrow Agreement (this “Agreement”) is dated
as of March 12, 2010, and is by and among Sun Zone Investments Limited, a
company organized under the laws of the British Virgin Islands (“Sun Zone”), and Sze
Kit Ting (collectively with Sun Zone, “Sellers”), SGOCO
Technology Ltd. (f/k/a Hambrecht Asia Acquisition Corp.), a company organized
under the laws of the Cayman Islands (the “Company”), and
certain holders of securities of the Company, who execute a counterpart
signature page hereto (each a “Sponsor” and
collectively “Sponsors”), and Grand
Pacific Investment Limited as escrow agent (the “Escrow
Agent”).  The Company, Sellers, Sponsors and Escrow Agent are
referred to collectively herein as the “Parties”).  Capitalized
terms used but not defined herein shall have the respective meanings given to
such terms in the Exchange Agreement (as defined below).

    

    RECITALS

    

    WHEREAS, the Company has
entered into that certain Share Exchange Agreement (the “Exchange Agreement”),
dated as of February 12, 2010, as amended, by and among the Company, Honesty
Group Holdings Limited (“Honesty Group”), and
Sellers, who collectively own all of the outstanding shares of Honesty Group
(the “Honesty Group
Shares”), pursuant to which Sellers will exchange all of the Honesty
Group Shares for up to 14,300,000 ordinary shares of the Company (the “HMAUF Shares”);
and

    

    WHEREAS, pursuant to the
Exchange Agreement, Sellers will be entitled to receive 5,800,000 of the HMAUF
Shares (the “Seller
Earn-Out Shares”) only if certain operating results described in the
Exchange Agreement (“Earn-Out Milestones”)
are met and, until such conditions are met, the Company and Sellers have agreed
that the Seller Earn-Out Shares will be held in escrow in accordance with the
terms of this Agreement; and

    

    WHEREAS, in connection with
entering into the Exchange Agreement, and as a condition to the execution by
Sellers of the Exchange Agreement, Sponsors have entered into that certain
Sponsor Agreement with Sellers, dated as of February 12, 2010, as amended by
Amendment No. 1 to Sponsor Agreement, dated March 11, 2010 (as so amended, the
“Sponsor
Agreement”), pursuant to which each Sponsor agreed to deposit in escrow
certain HMAUF Shares owned by such Sponsor subject to the Company meeting the
Earn-Out Milestones (the “Sponsor Earn-Out
Shares”), and each Sponsor agreed to deposit in escrow certain HMAUF
Shares owned by such Sponsor subject to fulfillment of certain conditions (the
“Conditions”) set forth in the Sponsor Agreement, each as set forth opposite
such Sponsor’s name on Exhibit A hereto to
be held in escrow in accordance with the terms of this Agreement  (the
“Sponsor Conditional
Shares” and the Seller Earn-Out Escrow Shares, the Sponsor Earn-Out
Escrow Shares and the Sponsor Conditional Shares, collectively, the “Escrow Shares”);
and

    

    WHEREAS, the Company, Sponsors
and Sellers desire that the Escrow Agent accept the Escrow Shares, in escrow, to
be held and disbursed as hereinafter provided; and

    

    WHEREAS, certain of the
Sponsors, consisting of John Wang, Robert J. Eu, Cannon Family Irrevocable
Trust, AEX Enterprises Limited, W.R. Hambrecht + Co., LLC, Hambrecht 1980
Revocable Trust, Shea Ventures LLC, and Marbella Capital Partners Ltd (the
“Initial
Sponsors”) have entered into a Securities Escrow Agreement (the “IPO Escrow
Agreement”), dated as of March 7, 2008, with Continental Stock Transfer
& Trust Company, as escrow agent (the “IPO Escrow Agent”),
pursuant to which the Initial Sponsors have deposited in escrow their HMAUF
Shares to be held for a period of one year following the Closing of the
transactions contemplated by the Exchange Agreement or another Business
Combination as described in the IPO Escrow Agreement.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    AGREEMENT

    

    NOW, THEREFORE, in
consideration of the premises and the mutual covenants hereinafter set forth,
and for other good and valuable consideration, the receipt and sufficiency of
which hereby is acknowledged, the Parties hereto agree as follows:

     

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

    

    2. Deposit
of Escrow Shares.

    

    (a) At the Closing, the
Company shall deliver to the Escrow Agent certificates representing the Seller
Escrow Shares issued in the names of Sellers and in the denominations set forth
on Exhibit
B.

    

    (b) At the Closing, each
Sponsor whose HMAUF Shares are not held by the IPO Escrow Agent shall deliver to
the Escrow Agent certificate(s) representing such his or its Sponsor Earn-Out
Shares and Sponsor Conditional Shares.  At the Closing, each Sponsor
whose HMAUF Shares are held by the IPO Escrow Agent shall deliver irrevocable
instructions to the IPO Escrow Agent to deliver to the Escrow Agent his or its
Sponsor Earn-Out Shares and Sponsor Conditional Shares at the time such Shares
would otherwise be delivered to such Sponsor under the IPO Escrow Agreement (the
“Release
Date”).

    

    (c) At the Closing, each
Seller and each Sponsor shall deliver to the Escrow Agent all stock powers,
assignments and related documents as may be necessary to effect the transfer to
the Company and cancellation of such Seller’s Seller Escrow Shares or such
Sponsor Earn-Out Shares and Sponsor Conditional Shares.

    

    3. Escrow
Period.  The term of this
Agreement (the “Escrow
Period”) is from the Closing Date to the date on which the Escrow Agent
disburses all of the Escrow Shares according to the terms and conditions
herein.

    

    4. Disbursement
of the Earn-Out Shares.

    

    (a) Within ten (10) Business
Days (as hereinafter defined) after each of the First Earn-Out Milestone Date
and the Second Earn-Out Milestone Date, the Company shall give notice to the
other Parties to this Agreement specifying whether the applicable Earn-Out
Milestone has been met (a “Satisfaction
Notice”); provided, however, that no notice pursuant to this Section 4
shall be required to be given to, or permitted to be given by, Sponsors with
respect to the Second Earn-Out Milestone Date if the First Earn-Out Milestone
has been met for purposes of this Agreement.  In the event the Company
fails to timely deliver a Satisfaction Notice, any Seller or Sponsor may give
notice that the Applicable Earn-Out Milestone has been met (an “Earn-Out Notice”) to
each of the other parties to this Agreement. For purposed of this Agreement, the
term “Business Days” shall mean Monday through Friday of each week other than
any days when banks generally and federal or central government offices in New
York, U.S.A., China or Hong Kong are authorized or required to be
closed.

     

    
      
        
        

      

      
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    (b) The Satisfaction Notice
shall include a calculation of the Income from Existing Operations for the year
ended December 31, 2010 (in the case of the Satisfaction Notice given after the
First Earn-Out Milestone Date) or the year ended December 31, 2011 (in the case
of the Satisfaction Notice given after the Second Earn-Out Milestone
Date).

     

    (c) Within fifteen (15)
Business Days after the giving of any Satisfaction Notice or Earn-Out Notice,
any Seller or Sponsor or, in the case of an Earn-Out Notice, the Company, may
dispute the determination set forth in the Satisfaction Notice or Earn-Out
Notice (the “Dispute
Period”), by written notice to the other parties (the “Dispute
Notice”).  If no Dispute Notice is given during the Dispute
Period: (i) any determination in the Satisfaction Notice that an Earn-Out
Milestone has not been met, and (ii) any determination in a Satisfaction Notice
or an Earn-Out Notice that the applicable Earn-Out Milestone has been met, shall
be final for all purposes under this Agreement.

     

    (d) If any party timely gives
a Dispute Notice, the Company shall make available to the Sellers, the Sponsors
and their respective advisors all books and records or copies thereof used by
the Company or that are reasonably necessary to determine whether the First
Earn-Out Milestone or the Second Earn-Out Milestone, as applicable, has been met
(the “Applicable
Records”).  The Applicable Records will be made available upon
written request, at the offices of the Company where they are customarily
maintained, during normal business hours.  Review of the Applicable
Records shall be conducted in a manner which is not unreasonably disruptive of
the business operations of the Company and its subsidiaries.  The
provisions of Section 9.2 [Confidentiality] of the Exchange Agreement shall
apply to the Sellers and the Sponsors and the respective advisors with respect
to the information in the Applicable Records to the same extent as if such
Section were included herein.

     

    (e) If any of the Company, a
Seller or a Sponsor timely gives a Dispute Notice (in each case, creating an
“Earn-Out
Dispute”), the Company, the Sellers and the Sponsors shall use reasonable
business efforts to resolve the dispute within a period of 30 days following the
Dispute Notice.  If the Earn-Out Dispute has been resolved, a joint
notice of the resolution by the Company and any Sellers or Sponsors who have
timely delivered a Dispute Notice shall be given to all of the parties to this
Agreement.  If no resolution has been reached in such 30-day period,
then the Company or any Seller or Sponsor may submit the Earn-Out Dispute (a
“Dispute
Submission”) to a firm of independent accountants located in China with
expertise in U.S generally accepted accounting principles applicable to public
companies (the “Accountants”) and
shall provide a copy of the Dispute Submission to the Company (if the Dispute
Submission is made by a Seller or Sponsor), the Sellers and the Sponsors;
provided, a Dispute Submission with respect to the Second Earn-Out Milestone may
not be made by a Sponsor if the First Earn-Out Milestone has been met for
purposes of this Agreement and a copy of any Dispute Submission with respect to
the Second Earn-Out Milestone need not be given to the Sponsors if the First
Earn-Out Milestone has been met for purposes of this Agreement.  The
Company shall, following reasonable notice and during regular business hours,
make available to the Accountants all Applicable Records.  The
Accountants’ sole review shall be to calculate the Income from Existing
Operations in accordance with U.S. GAAP, consistently applied, and to confirm
that, based on reasonable testing conducted consistently with U.S. generally
accepted auditing standards, the Applicable Records used to calculate the Income
from Existing Operations have been maintained in accordance with U.S. GAAP,
consistently applied.  The Accountants shall give notice specifying
the amount of Income from Existing Operations as calculated by the Accountants
(the “Accountants’
Determination”) to each of the Parties.  The Accountants’
Determination shall be final and binding upon the Parties for all purposes of
this Agreement.  If the Earn-Out Dispute relates to the First Earn-Out
Milestone and the Accountants’ Determination is that the Income from Existing
Operations for the year ended December 31, 2010 is greater than US $15,000,000,
then the First Earn-Out Milestone shall be deemed to have been met; otherwise,
the First Earn-Out Milestone shall be deemed not to have been met.  If
the Earn-Out Dispute relates to the Second Earn-Out Milestone and the
Accountants’ Determination is that the Income from Existing Operations for the
year ended December 31, 2011 is greater than US $20,000,000, then the Second
Earn-Out Milestone shall be deemed to have been met; otherwise, the Second
Earn-Out Milestone shall be deemed not to have been met.

     

    
      
        
        

      

      
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    (f) For purposes of this
Agreement, the “Determination Date”
shall be:

     

    (i) If the Company gives a
Satisfaction Notice and no Seller or Sponsor gives an Earn-Out Notice during the
Dispute Period, the last day of the Dispute Period;

     

    (ii) If (x) the Company does
not timely give a Satisfaction Notice, (y) a Seller or Sponsor gives an Earn-Out
Notice, and (z) the Company does not give a Dispute Notice during the Dispute
Period, the last day of the Dispute Period; or

     

    (iii) If there is an Earn-Out
Dispute, the date on which the Accountants give notice of the Accountants’
Determination.

     

    (g) Within ten (10) Business
Days after the applicable Determination Date, the Escrow Agent shall disburse
the Seller and Sponsor Earn-Out Shares held in escrow as follows:

     

    (i) In the event that the
First Earn-Out Milestone is met, the Escrow Agent shall (x) deliver 5,000,000 of
the Seller Earn-Out Shares to Sellers in the amounts set forth on Exhibit B attached
hereto; and (y) if a Notice of Conditions (as defined below) has been issued and
such Notice confirms the Conditions have been met on or prior to the
Determination Date, deliver to each Sponsor the appropriate Sponsor Earn-Out
Shares.

     

    (ii) In the event that the
First Earn-Out Milestone is not met, no Escrow Shares shall be disbursed as a
result of the occurrence of a Determination Date with respect to the First
Earn-Out Milestone.

     

    
      
        
        

      

      
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    (iii) In the event the Second
Earn-Out Milestone is met: (x)(1) if the First Earn-Out Milestone was met, the
Escrow Agent shall deliver the remaining 800,000 Seller Earn-Out Shares to
Sellers in the amounts set forth on Exhibit B attached
hereto, or (2) if the First Earn-Out Milestone was not met, the Escrow Agent
shall deliver all 5,800,000 Seller Earn-Out Shares to Sellers in the amounts set
forth on Exhibit
B attached hereto; and (y) if the Sponsors’ Earn-Out Shares were not
delivered pursuant to Section 4(g)(i)(y) above and if a Notice of Conditions (as
defined below) has been issued and confirms the Conditions have been met on or
prior to the Determination Date, deliver to each Sponsor the appropriate Sponsor
Earn-Out Shares.

     

    (iv) In the event that the
Second Earn-Out Milestone is not met but the First Earn-Out Milestone was met,
the Escrow Agent shall: (x) deliver the remaining 800,000 Seller Earn-Out Shares
to the Company, and (y) if the Sponsors’ Earn-Out Shares were not delivered
pursuant to Section 4(g)(i)(y) above and if a Notice of Conditions has been
issued and confirms the Conditions have been met on or prior to the
Determination Date, deliver to each Sponsor the appropriate Sponsor Earn-Out
Shares, if any, remaining in escrow.  All Escrowed Shares returned to
the Company  will be returned to the status of authorized but unissued
shares as of the Second Earn-Out Milestone Date.

     

    (v) If neither Earn-Out
Milestone is met and the Determination Date has occurred with respect to both
the First Earn-Out Milestone and the Second Earn-Out Milestone, the Escrow Agent
shall (i) deliver all 5,800,000 Seller Earn-Out Shares to the Company and such
shares will be returned to the status of authorized but unissued shares as of
the Second Earn-Out Milestone Date; and (ii) deliver all Sponsor Earn-Out Shares
to the Company and such shares will be returned to the status of authorized but
unissued shares as of the Second Earn-Out Milestone Date.

     

    (vi) If, as of any
Determination Date, a Notice of Conditions has been issued which states that the
Conditions have not been met, or if no Notice of Conditions has been given, no
Sponsor Earn-Out Shares shall be delivered to Sponsor and such Sponsor Earn-Out
Shares shall remain in escrow until disbursed as provided in Section 5
below.

     

    (h) The Escrow Agent shall
deliver to the Company all stock powers, assignments and related documents as
may be necessary to effect the transfer to the Company and cancellation of any
Escrow Shares delivered to the Company pursuant to Section 4(g).  All
other stock powers, assignments and related documents shall be returned to the
Seller or Sponsor who delivered such documents to the Escrow Agent promptly
after all of the Escrow Shares have been disbursed by the Escrow
Agent.

     

    5. Disbursement
of the Sponsor Conditional Shares.

     

    (a) Within ten (10) Business
Days after the earlier of satisfaction of the Conditions or December 31, 2011,
the Company shall give notice to the other Parties to this Agreement specifying
whether the Conditions to release of the Sponsor Conditional Shares have been
met (a “Notice of
Conditions”).

     

    
      
        
        

      

      
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    (b) If the Notice of
Conditions states that the Conditions to the rights of the Sponsors to the
return of the Sponsor Conditional Shares have been met, within ten (10) Business
Days after the Notice of Conditions is delivered, the Escrow Agent shall
disburse the Sponsor Conditional Shares held in escrow to the appropriate
Sponsors together with the Sponsor Earn-Out Shares, if the First Earn-Out
Milestone has been met.

     

    (c) If the Notice of
Conditions states that the Conditions to the rights of the Sponsors to the
return of the Sponsor Conditional Shares have not been met, the Notice of
Conditions shall specify which of the Conditions have not been
met.  The Sponsors shall have ten (10) Business Days after the Notice
of Conditions is delivered to dispute the Notice of Conditions by written notice
(the “Conditions
Dispute Notice”) to the Escrow Agent and the Company, setting forth with
particularity the facts demonstrating satisfaction of the
Conditions.  If no Conditions Dispute Notice is received by the Escrow
Agent within such ten (10) Business Days, the Escrow Agent shall deliver all of
the Sponsor Conditional Shares and Sponsor Earn-Out Shares to the Company and
such shares will be returned to the status of authorized but unissued shares as
of the date of the Notice of Conditions.

     

    (d) Any disputes set forth in
a timely Conditions Dispute Notice shall be resolved in the manner provided in
the Sponsor Agreement.  Upon receipt by the Escrow Agent of joint
written instructions from the Company and each of the Sponsors or a final
arbitral award under the Sponsor Agreement, the Escrow Agent shall deliver the
Sponsor Conditional Shares as set forth in the joint instructions or arbitral
award.

     

    6.
Rights of Sponsors and
Sellers in Escrow Shares.

    

    (a) Adjustment of Escrow
Shares. The
number of HMAUF Shares deliverable upon meeting any Earn-Out Milestone or
Conditions will be proportionately increased or decreased, or subject to such
other adjustment, in the event of any stock dividend, stock split, or other
recapitalization of the Company as may be necessary or appropriate so that the
capital stock of the Company delivered to Sponsors and Sellers with respect to
any Earn-Out Milestone or satisfaction of Conditions provides Sponsors and
Sellers with the same economic and other benefits of ownership as they would
have received if the number of HMAUF Shares delivered with respect to such
Earn-Out Milestone or satisfaction of Conditions had been delivered to them at
Closing.

     

    (b) Distributions in Respect of the
Escrow Shares.  Any capital stock of the Company or other
consideration payable with respect to the HMAUF Shares held by the Escrow Agent
in connection with any stock dividend, stock split, or other recapitalization of
Company shall be issued or paid by the Company to the Escrow Agent at the same
time that capital stock of the Company or other consideration is issued or paid
to other shareholders of the Company in connection with such stock dividend,
stock split, or other recapitalization of the Company.

    

    (c) Voting Rights as a
Shareholder. Except as herein provided, Sponsors and Sellers shall retain
all of their rights as shareholders of HMAUF during the Escrow Period with
respect to the Escrow Shares, including, without limitation, the right to vote
such shares.

     

    
      
        
        

      

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

    

    6.
Concerning the Escrow
Agent.

    

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

    

    (b)
Indemnification.  The Escrow Agent shall be indemnified and
held harmless by the Company from and against any expenses, including counsel
fees and disbursements, or loss suffered by the Escrow Agent in connection with
any action, suit or other proceeding involving any claim which in any way,
directly or indirectly, arises out of or relates to this Agreement, the services
of the Escrow Agent hereunder, or the Escrow Shares held by it hereunder, other
than expenses or losses arising from the gross negligence or willful misconduct
of the Escrow Agent.  Promptly after the receipt by the Escrow Agent
of notice of any demand or claim or the commencement of any action, suit or
proceeding, the Escrow Agent shall notify the other Parties hereto in
writing.  In the event of the receipt of such notice, the Escrow
Agent, in its sole discretion, may commence an action in the nature of
interpleader in an appropriate court to determine ownership or disposition of
the Escrow Shares or it may deposit the Escrow Shares with the clerk of any
appropriate court or it may retain the Escrow Shares pending receipt of a final,
non-appealable order of a court having jurisdiction over all of the Parties
hereto directing to whom and under what circumstances the Escrow Shares are to
be disbursed and delivered.  The provisions of this Section 6(b) shall
survive in the event the Escrow Agent resigns or is discharged pursuant to this
Agreement.

    

    (c)
Compensation.  The Escrow Agent shall be entitled to reasonable
compensation from the Company for all services rendered by it hereunder, as set
forth on Exhibit
C hereto. The Escrow Agent shall also be entitled to reimbursement from
the Company for all expenses paid or incurred by it in the administration of its
duties hereunder including, but not limited to, all counsel, advisors’ and
agents’ fees and disbursements and all taxes or other governmental
charges.

     

    
      
        
        

      

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

    

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

    

    (f) Discharge of Escrow
Agent.  The Escrow Agent shall resign and be discharged from
its duties as escrow agent hereunder if so requested in writing at any time by
all the other Parties hereto, jointly, provided, however, that such resignation
shall become effective only upon acceptance of appointment by a successor escrow
agent as provided in Section 6(e).

    

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

    

    7.
Miscellaneous.

    

    (a) Governing
Law.  This Agreement shall for all purposes be deemed to be
made under and shall be construed in accordance with the laws of the State of
New York.  Except as otherwise expressly provided in the Sponsor
Agreement or Section 4 hereof, each of the Parties hereby agrees that any
action, proceeding or claim against it arising out of or relating in any way to
this Agreement shall be brought and enforced in the courts of the State of New
York or the United States District Court for the Southern District of New York,
and irrevocably submits to such jurisdiction, which jurisdiction shall be
exclusive. Each of the Parties hereby waives any objection to such exclusive
jurisdiction and that such courts represent an inconvenient forum.

    

    (b) Successors and
Assigns.  This Agreement shall be binding upon and inure to the
benefit of the Parties hereto and their respective successors and assigns; provided that the
Escrow Agent may only assign any of its rights or delegation of any of its
obligations hereunder in accordance with Section 6(e) hereof.

     

    (c) Notices.  Any
notice or other communication required or which may be given hereunder shall be
in writing and either be delivered personally or by private national courier
service, or be mailed, certified or registered mail, return receipt requested,
postage prepaid, and shall be deemed given when so delivered personally or, if
sent by private international courier service, four Business Days after delivery
to the courier, or, if mailed, ten Business Days after the date of mailing, as
follows:

     

    
      
        
        

      

      
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    If to the
Company, to:

    

    SGOCO
Technology Ltd.

    SGOCO
Technology Park

    Loushan,
Jinjiang City

    Fujian,
China 32200

    Attn:  Burnette
Or, President

    

    If to a
Sponsor or a Seller, to its address set forth

    on the
applicable signature page hereto, and

    

    If to the
Escrow Agent, to:

    

    Grand
Pacific Investment Limited

    50th
Floor, Bank of China Tower

    1 Garden
Road, Central, Hong Kong

    Attn:
Cheng Hoo, Executive Director

    

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

    

    Nixon
Peabody LLP

    One
Embarcadero Center

    Suite
1800

    San
Francisco, California 94111

    Attn:
David Cheng, Esq.

    

    and

    

    Loeb
& Loeb LLP

    345 Park
Avenue

    New York,
New York 10154

    Attn:
Giovanni Caruso, Esq.

    

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

    

    (d)
Counterparts.  This Agreement may be executed in several
counterparts each one of which shall constitute an original and may be delivered
by facsimile transmission and together shall constitute one
instrument.

     

    
      
        
        

      

      
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    (e)
Amendments.  This Agreement may be amended, modified,
superseded, canceled, renewed or extended, and the terms and conditions hereof
may be waived, only by written instrument signed by each of the Parties (or any
successor thereto), or, in the case of a waiver, by the Party or Parties waiving
compliance.  No delay on the part of any Party hereof in exercising
any right, power or privilege hereunder shall operate as a waiver thereof, nor
shall any waiver on the part of any Party of any right, power or privilege
hereunder, nor any single or partial exercise of any right, power or privilege
hereunder, preclude any other or further exercise hereof or the exercise of any
other rights, power or privilege hereunder.

     

    (f) Entire
Agreement.  This Agreement, the Exchange Agreement and the
Sponsor Agreement contain the entire agreement among the Parties with respect to
the subject matter hereof and supersede all prior agreements, written or oral,
with respect hereof.

     

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

    

    [Signature
Pages Follow]

     

    
      
        
        

      

      
        - 10
-

        
          

        

      

      
        
        

      

       

    

    IN
WITNESS WHEREOF, the Parties hereto have executed this Agreement on the day and
year first above written.

     

    
      	
              HAMBRECHT
      ASIA ACQUISITION CORP. 

               

              (to
      be known as SGOCO TECHNOLOGY LTD.)

            
	 	 	 
	By:  	
              /s/
      John Wang

            	 
      
	Name:
      John
      Wang	 
      
	Title:
      CEO	 
      
	 	 	 
	SUN
      ZONE INVESTMENTS LIMITED
	 	 	 
	By: 	
              /s/
      Or Tin
      Man                                

            	 
      
	Name:
      Tin Man Or	 
      
	Title:
      Owner	 
      
	Address:	 
      
	 	 
      	 
      
	 	 
      	 
      
	/s/Ting
      Sze Kit	 
      
	SZE
      KIT TING	 
      
	 	 	 
	Address:	 
      

    

    

    
      
        
          Signature
Page to Escrow Agreement

        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    IN
WITNESS WHEREOF, the Parties hereto have executed this Agreement on the day and
year first above written.

     

    
      	
              For
      individual Sponsors:

            	 	 	For
      Sponsors other than individuals:	 
	 	 	 	 	 
	
              /s/
      John Wang

            	 	 	Cannon
      Family Irrevocable Trust	 
	John
      Wang	 	 	 	 
	
            	 	 	By:
      	
              /s/
      Stephen N. Cannon

            	 
	 	 	 	
              Name:
      Stephen
      N. Cannon 

            	 
	/s/
      Robert Eu	 	 	Title:
      Trustee	 
	Robert
      Eu	 	 	 	 
	 	 	 	AEX
      Enterprises Limited	 
	 	 	 	 	 	 
	 	 	 	By:	
              /s/
      Robert Eu

            	 
	 	 	 	 	 	 
	 	 	 	W.E.
      Hambrecht + Co.,LLC	 
	 	 	 	 	 	 
	 
      	 	 	By:	
              /s/
      W.R. Hambrecht

            	 
	 	 	 	 	 	 
	 	 	 	Hambrecht
      1980 revocable trust	 
	 	 	 	 	 	 
	 
      	 	 	By:	
              /s/
      W.R. Hambrecht

            	 
	 	 	 	 	 	 
	 	 	 	Shea
      Ventures LLC	 
	 	 	 	 	 	 
	 
      	 	 	By:
      	
              /s/
      Ronald Lakey

            	 
	 	 	 	Roanld
      Lakey, Vice President	 
	 	 	 	 	 	 
	 	 	 	Marella
      Capital Partners, Ltd.	 
	 	 	 	 	 	 
	 
      	 	 	By:
      	
              /s/
      John Wang

            	 
	 	 	 	John  Wang	 

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	
              Address(for
      all Sponsors):

              Address:
      13/F Tower 2

              New
      World tower

              18
      Queens Road Central

              Hong
      Kong

            	 
      

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    
      Exhibit
A-1

      To

      Amendment
No. 1 to Sponsor Agreement

      and
to

      Escrow
Agreement

      

      Dated as
of March 11, 2010

       

      Sponsor
Affiliates & Beneficiaries

      
        	 
      	
                PRESENT

              	
                Forfeited
      Shares

              	
                Share
      Ownership

              	
                Earn-Out
      Escrow

              	
                Conditional
      Share Escrow

              
	
                Beneficiaries

              	
                Share
      Ownership

              	 
      	
                Warrants

                 Ownership/

                Forfeit

              	
                Total
      Sponsor 

                Shares
      After 

                Forfeit

              	
                Forfeited

                 Shares

              	
                Shares
      not 

                subject
      to 

                Earn-Out
      or Conditions

              	
                Earn-Out
      Shares
 Ownership

              	
                Conditional
      Shares Ownership

              
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                Robert
      Eu

              	
                173,275

              	
                16.3%

              	 
      	
                152,881

              	
                20,394

              	
                16,349

              	
                101,920

              	
                136,532

              
	
                W.R.
      Hambrecht + Co, LLC

              	
                178,275

              	
                16.8%

              	
                25,000

              	
                157,293

              	
                20,982

              	
                16,821

              	
                52,431

              	
                140,472

              
	
                Hambrecht
      1980 Revocable Trust

              	
                88,333

              	
                8.3%

              	
                441,667

              	
                77,937

              	
                10,396

              	
                8,335

              	
                25,979

              	
                69,602

              
	
                AEX
      Enterprises Limited1

              	
                88,333

              	
                8.3%

              	
                441,6672

              	
                77,937

              	
                10,396

              	
                8,335

              	
                25,979

              	
                69,602

              
	
                John
      Wang

              	
                230,000

              	
                21.7%

              	
                0

              	
                202,930

              	
                27,070

              	
                21,702

              	
                67,643

              	
                181,228

              
	
                Marbella
      Capital Partners Ltd

              	
                40,000

              	
                3.8%

              	
                200,000

              	
                35,292

              	
                4,708

              	
                3,774

              	
                11,764

              	
                31,518

              
	
                Cannon
      Family Irrevocable Trust

              	
                173,275

              	
                16.3%

              	
                0

              	
                152,881

              	
                20,394

              	
                84,615

              	
                0

              	
                68,266

              
	
                Shea
      Ventures, LLC

              	
                88,333

              	
                8.3%

              	
                441,667

              	
                77,937

              	
                10,396

              	
                8,335

              	
                25,979

              	
                69,602

              
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                TOTALS

              	
                1,059,825

              	
                100.0%

              	
                1,550,000

              	
                935,089

              	
                124,736

              	
                168,266

              	
                311,696

              	
                766,823

              

      

      

        
          

      

      
        1 AEX
Capital LLC holds warrants while AEX Enterprises holds Sponsor
Shares 

      

      
        2 Of these
Warrants, Warrants to purchase 250,000 ordinary shares will be transferred to an
investor.  [Pope Investments II, LLC] at the direction of the
Company.

         

        
          
             

          

          
             

            
              

            

          

          
             

          

        

      

       

      EXHIBIT
B

      

      Seller
Escrow Shares

      

      
        	
                Seller
      Name

              	 	
                First
      Milestone

              	 	 	
                Second
      Milestone

              	 	 	
                Total

              	 
	
                Sun
      Zone Investments Limited

              	 	 	4,000,000	 	 	 	640,000	 	 	4,640,000	 
	
                Sze
      Kit Ting

              	 	 	1,000,000	 	 	 	160,000	 	 	1,160,000	 
	
                Total

              	 	 	5,000,000	 	 	 	800,000	 	 	5,800,000	 

      

       

      Certificates
to be issued in denominations indicated by shaded amounts.

       

      
        
          Exhibit
B

           

        

        
           

          
            

          

        

        
           

        

      

       

      EXHIBIT
C

      

      Escrow
Agent Fees

       

      The fee
for the service of the Escrow Agent referred to in Section 6(c) shall be Fifteen
Thousand U.S. Dollars (USD 15,000.00), payable by the Company within 10 days
after signing this Agreement.  The fee is not refundable.

         

        
          
            Exhibit
CUnassociated Document

    Exhibit 10.17

    AMENDMENT
NO. 1

    TO

    SPONSOR
AGREEMENT

    

    This Amendment No. 1 to Sponsor
Agreement (“Amendment”) is made
as of the 11th day of
March 2010, by and among Sun Zone Investments Limited, a company organized under
the laws of the British Virgin Islands (“Sun Zone”), and Sze
Kit Ting (collectively with Sun Zone, the “Sellers”) and certain
holders of securities of Hambrecht Asia Acquisition Corp., a Cayman Islands
company (the “Company”), who
execute a counterpart signature page hereto (each a “Sponsor” and
collectively, the “Sponsors”) and amends
the Sponsor Agreement (“Sponsor Agreement”),
dated as of February 12, 2010, by and among the Sellers, the Company and the
Sponsors.  Capitalized terms not otherwise defined in this Amendment
have the same meaning as such capitalized terms have in the Sponsor
Agreement.

    

    WHEREAS, the Company and the Sponsors
have notified the Sellers that the Company may not be able to meet the minimum
Net Trust Proceeds condition to the Sellers’ obligation to close the
Transactions, and the Sellers have agreed to lower the minimum on the terms and
conditions set forth in this Amendment and Amendment No. 1 to the Share Exchange
Agreement (as defined below); and

    

    WHEREAS, to induce the Sellers to amend
the Share Exchange Agreement (“Exchange Agreement”),
dated as of February 12, 2010, between the Sellers, Honesty Group Holdings
Limited and the Company and to enter into Amendment No. 1 to the Share Exchange
Agreement (“Amendment
to Exchange Agreement”) of even date herewith, the Sponsors have, among
other things, agreed to surrender to the Company for cancellation the Sponsor
Warrants at Closing and to escrow additional the Company Shares held by them
subject to certain additional conditions;

    

    NOW,
THEREFORE, in consideration of the foregoing and  the covenants and
agreement of the parties set forth below and other good and valuable
consideration, the receipt of which is hereby acknowledged, the parties agree as
follows:

    

    1. A new
subsection D is hereby added to Section I to the Sponsor Agreement to read in
its entirety as follows:

    

    D.
Notwithstanding the achievement of an Earn-Out Milestone, all of Sponsor’s
Earn-Out Shares shall remain in escrow until the Conditions (as defined below)
set forth in Section I-1 have been satisfied prior to the Measurement Date (as
defined below) provided, that if the Conditions are not satisfied prior to the
Measurement Date, the Sponsor’s Earn-Out Shares shall be forfeited and return to
the Company for cancelation to the same extent, proportionately, as the
Sponsors’ Conditional Shares (as defined below).

    

    2. A new
Section I-1 is hereby added to the Sponsor Agreement immediately following
Section I to read in its entirety as follows:

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    I-1 Sponsors’ Conditional
Shares.

    

    A. Each
Sponsor agrees that the number of HMAUF Shares owned by such Sponsor and set
forth opposite such Sponsor’s name in the column captioned “Conditional Shares”
on Exhibit A-1 to the Sponsor Agreement (the “Conditional Shares”)
shall be forfeited to the Company and cancelled unless on or before December 31,
2011 or, in the event the First Earn-Out Milestone is not met, December 31,
2012, or such earlier date as the conditions set forth in clauses (2) and (3)
below are met (the “Measurement Date”),
each following conditions shall have been met (collectively, the “Conditions”), provided, however, in the event
the Conditions set forth in clauses (1) and (2) have been met but less than $15
million in gross proceeds of equity has been raised, the Conditional Shares
shall not be forfeited to the extent of the equity raised from the efforts of
Sponsor Representatives, on a pro rata basis (e.g., in the event $12 million of
gross proceeds is raised, only 20% of the Conditional Shares shall be
forfeited):

    

    (1)  from
the Closing Date until the Measurement Date, Robert Eu and John Wang (together,
the “Sponsor Representatives”) shall have provided to the Company without
compensation to the Sponsor Representatives or their Affiliates (other than the
reimbursement of reasonable business expenses, upon presentation of appropriate
documentation for financial reporting and tax purposes of the incurrence of such
expenses on behalf of the Company), at the Company’s request, the following
services for no fewer than 30 hours per month in the aggregate (it being
understood that if the Company does not request services, the Sponsors shall not
be required to provide services):

    

    · Investor and
public relations services (including the drafting/review of press releases and
assisting with road shows, including appearing at road shows with members of
management);

    · Assisting with the
coordination of other advisors;

    · Assisting the
Company with listing on the Nasdaq Global Market or the Nasdaq Global Select
market (or, if the Nasdaq Global Market or Global Select Market does not
continue to exist, the global market closest in scope and qualifications to the
Nasdaq Global Market on the date hereof); and

    · Introducing
investors and service providers to the Company;

    

    The
Sponsor Representatives shall perform the foregoing actions in cooperation with
the Company’s other designated advisors.

    

    (2)  the
Company being listed on the Nasdaq Global Market or the Nasdaq Global Select
Market (or, if the Nasdaq Global Market does not continue to exist, the global
market closest in scope and qualifications to the Nasdaq Global Market on the
date hereof), provided that the Company acts in good faith to have its ordinary
shares listed promptly after meeting the qualifications of either such market
(which shall include the obligation of the Company to promptly submit an
application and respond to any requests for information from Nasdaq);
and

    
 

    
      
        
        

      

      
        - 2
-

        
          

        

      

      
        
        

      

       

    

    (3)  the
Sponsor Representatives shall have made available to the Company the opportunity
(evidenced by non-binding commitments of investors financially capable of
consummating the transactions) to sell additional common equity with gross
proceeds of at least U.S. $15 million via a public offering at a time when both
the Company and the Sponsor Representatives believe to be advantageous to raise
money at the highest price possible, with pricing determined in accordance with
the pricing model described on Exhibit B hereto . To
the extent that the Sponsor Representatives are in compliance with clause (1)
above, all equity capital raised by the Company prior to the Determination Date,
including any amounts received by the Company: (x) upon exercise of the Sponsor
Warrants transferred as provided in Section II-1 below and (y) upon exercise of
any IPO Warrants outstanding after the consummation of the Transactions, will be
included in the calculation of the U.S. $15 million to be raised.  If
the Company determines not to accept the offering price determined as provided
herein, the Condition shall be deemed satisfied to the extent of the equity
capital which would have been raised if the offering had been consummated at
such price.

    

    B. At the
Closing, each Sponsor whose HMAUF Shares are not held by the IPO Escrow Agent
shall transfer and deliver to the Escrow Agent under the Escrow Agreement such
Sponsor’s Conditional Shares.  At the Closing, each Sponsor whose
HMAUF Shares are held by the IPO Escrow Agent shall deliver irrevocable
instructions to the IPO Escrow Agent to deliver to the Escrow Agent such
Sponsor’s Conditional Shares at the time such Conditional Shares would otherwise
be delivered to such Sponsor under the IPO Escrow Agreement.  At the
Closing, each Sponsor shall deliver to the Escrow Agent all stock powers,
assignments and related documents as may be necessary to effect the transfer to
the Company and cancellation of such Sponsor’s Conditional Shares.

    

    C. If the
Conditions are met on or before the Measurement Date, each Sponsor shall be
entitled to receive such Sponsor’s Conditional Shares within 10 business days
after the Measurement Date.  If the Conditions are not met by the
latest Measurement Date, all of the Conditional Shares shall be forfeited to the
Company and cancelled.  The Earn-Out Shares shall be released to the
Sponsors or the Company at the times and in the manner provided in the Escrow
Agreement.

    

    D. The
Company agrees to use reasonable business efforts to cooperate with the Sponsors
and act in good faith to take such actions as may be reasonably required in the
best interests of the Company to satisfy the Conditions.

    

    3. A new
Section II-1 is hereby added to the Sponsor Agreement immediately following
Section I to read in its entirety as follows:

    

    II-1
Forfeited
Warrants.  Each Sponsor agrees all of the Sponsor Warrants
owned beneficially or of  record by such Sponsor shall be forfeited
and cancelled effective as of the Closing, other than Sponsor Warrants to
purchase 250,000 in ordinary shares will be transferred as of the Closing Date,
without charge, to an investor [Pope Investments II, LLC], as directed by the
Company.  At the Closing, each Sponsor shall deliver to the Company
all stock powers, assignments and related documents as may be necessary to
effect the transfer to the Company and cancellation of such Sponsor’s Sponsor
Warrants.

      

    
      
        
        

      

      
        - 3
-

        
          

        

      

      
        
        

      

    

     

    4. The
following shall be added to the Sponsor Agreement immediately following the last
sentence of Section XI:

    

     
The parties hereto agree that any action, proceeding or claim arising out of or
relating in any way Section I-1 of this Agreement which is not resolved within
30 days by negotiations between the parties shall, on written notice given to
the other parties by either Sponsor or the Company (any such notice, a Notice of
Arbitration”), be resolved through final and biding arbitration conducted in the
City of New York, State of New York in accordance with the rules and regulations
of the American Arbitration Association (AAA), by a panel of three arbitrators
selected from the AAA Commercial Disputes Panel instead of any jury trial and
that the arbitrator panel’s decision shall be final and binding to the fullest
extent permitted by law and enforceable by any court having jurisdiction
thereof.  The selection of the arbitrators shall be made within 30
days after the Notice of Arbitration, one by the Sponsors and one by the
Company, and those two shall select a third arbitrator to serve as the chairman
of the panel.  The cost of such arbitrators and arbitration services,
together with the prevailing party’s reasonable legal fees of a single law firm
and expenses, shall be borne by the non-prevailing party or as determined by the
equities of the matter by the arbitrators.

    

    5.
Exhibit A to the Sponsor Agreement is hereby replaced in its entirety by Exhibit
A-1 to this Amendment.

    

    6. If any
term or other provision of this Amendment is invalid, illegal or incapable of
being enforced by any Law, or public policy, all other conditions and provisions
of this Amendment shall nevertheless remain in full force and effect so long as
the economic or legal substance of the Transactions is not affected in any
manner materially adverse to any party.  Upon such determination that
any term or other provision is invalid, illegal or incapable of being enforced,
the parties shall negotiate in good faith to modify this Amendment so as to
effect the original intent of the parties as closely as possible in an
acceptable manner to the end that Transactions are fulfilled to the extent
possible.

    

    7. This Amendment may be executed in
one or more counterparts, all of which shall be considered one and the same
agreement and shall become effective when one or more counterparts have been
signed by each of the parties and delivered to the other
parties.  Execution and delivery of this Amendment by facsimile or
other electronic transmission evidencing a manual signature is legal, valid and
binding for all purposes.

    

    8. This Amendment shall be governed by,
and construed in accordance with, the laws of the State of New York regardless
of the laws that might otherwise govern under applicable principles of conflicts
of laws thereof.

    

    9. Except
as amended hereby, the Sponsor Agreement continues in full force and effect as
written.

    

    IN
WITNESS WHEREOF, intending to be legally bound, the parties have executed this
Amendment on the dates set forth opposite their signatures below to be effective
as of the date first above written.

    

    [SIGNATURE
PAGES FOLLOW]

    

    
      
        
           

        

        
          - 4
-

          
            

          

        

        
           

        

      

    

     

    SIGNATURE
PAGE TO

     

    AMENDMENT
No. 1 TO SPONSOR AGREEMENT

     

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

     

    
      HAMBRECHT
ASIA ACQUISITION CORP.

       

      By: /s/
John Wang

      Name:
John Wang

      Title:
CEO

      Address:
13/F Tower 2

      New World
tower

      18 Queens
Road Central

      Hong
Kong

    

    

    
      
        
           

        

        
           

          
            

          

        

        
           

        

      

    

     

    SIGNATURE
PAGE TO

     

    AMENDMENT
No. 1 TO SPONSOR AGREEMENT

     

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

     

    
      
        
          
            
              
                
                  	
                          SUN
      ZONE INVESTMENTS LIMITED

                        	 
      
	 	 
	
                          By:

                        	
                          /s/ Or Tin Man

                        	 
      
	
                          Name:

                        	
                          Tin
      Man Or

                        	 
      
	
                          Title:

                        	
                          Owner

                        	 
      
	 	 	 
	
                          Address:

                        	 
      	 
      
	
                          c/o
      Guanke (Fujian) Electron

                          Technological
      Industry Co. Ltd.

                          SGOCO
      Technology Park

                          Loushan,
      Jinjiang City

                          Fujian,
      China 32200

                          Attn:  Burnette
      Or, President

                        	 
      

                

              

            

          

        

      

      

      
        
          
            	
                    /s/ Ting Sze Kit

                  	 
      
	
                    SZE
      KIT TING

                  	 
      

          

        

      

      

      
        
          
            
              	
                      Address:

                    	 
      
	
                      Room
      2101, 21/F., Block B

                      Healthy
      Gardens, No. 560 King’s Road

                      North
      Point, Hong Kong

                    	 
      

            

          

        

      

    

    

    
      
        
           

        

        
           

          
            

          

        

        
           

        

      

    

    

    SIGNATURE
PAGE TO

    AMENDMENT
No. 1 TO SPONSOR AGREEMENT

     

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

     

    
      
        
          
            
              
                
                  
                    
                      
                        
                          
                            
                              
                                	
                                        For individual Sponsors:

                                      	 
      	
                                        For Sponsors other than individuals:

                                      
	 	 	 
	 	 	Cannon Family Irrevocable Trust
	
                                        /s/ John Wang

                                      	 	 	 
	
                                        John
      Wang

                                      	 
      	 
      	 
      
	 
      	 
      	
                                        By:

                                      	
                                        /s/ Stephen N.
      Cannon

                                      
	 
      	 
      	
                                        Name:

                                      	
                                        Stephen
      N. Cannon

                                      
	
                                        /s/ Robert
      Eu

                                      	 
      	
                                        Title:

                                      	
                                        Trustee

                                      
	
                                        Robert
      Eu

                                      	 
      	 
      	 
      

                              

                            

                          

                        

                      

                    

                  

                

              

            

          

        

      

       

      
        
          
            
              
                
                  
                    
                      
                        
                          
                            
                              
                                	 
      	 	AEX
      Enterprises Limited
	 
      	 	 
      	 
      
	
                                        Address
      (for all Sponsors):

                                      	 	 
      	 
      
	 
      	 	
                                        By:

                                      	
                                        /s/ Robert
      Eu

                                      
	
                                        Address:
      13/F Tower 2

                                      	 	Name:
      	
                                        Robert
      Eu

                                      
	
                                        New
      World tower

                                      	 	 
      	 
      
	
                                        18
      Queens Road Central

                                      	 	WR
      Hambrecht + Co., LLC
	
                                        Hong
      Kong

                                      	 	 
      	 
      
	 	 	
                                        By:

                                      	
                                        /s/ W.R.
      Hambrecht

                                      
	 
      	 	
                                        Name:

                                      	
                                        W.R.
      Hambrecht

                                      
	 
      	 	
                                        Title:

                                      	 
      
	 
      	 	 
      	 
      
	 
      	 	Hambrecht
      1980 Revocable Trust
	 
      	 	 
      	 
      
	 
      	 	
                                        By:

                                      	
                                        /s/ W.R.
      Hambrecht

                                      
	 
      	 	
                                        Name:

                                      	
                                        W.R.
      Hambrecht

                                      
	 	 	Title:
      Trustee
	 
      	 	 
      	 
      
	 
      	 	Shea
      Ventures LLC
	 
      	 	
                                        By:

                                      	
                                        /s/Ronald L.
      Lakey

                                      
	 
      	 	Name:
      Ronald L. Lakey
	 
      	 	Title:
      Vice President
	 
      	 	 
      	 
      
	 
      	 	Marbella
      Capital Partners Ltd.
	 
      	 	 
      	 
      
	 
      	 	
                                        By:

                                      	
                                        /s/
      John
      Wang                                

                                      
	 
      	 	Name:
      John Wang
	 
      	 	Title:
      Director

                              

                               

                              
                                
                                   

                                

                                
                                   

                                  
                                    

                                  

                                

                                
                                   

                                

                              

                            

                          

                        

                      

                    

                  

                

              

            

          

        

      

    

     

    
      Exhibit
A-1

      To

      Amendment
No. 1 to Sponsor Agreement

      and
to

      Escrow
Agreement

      

      Dated as
of March 11, 2010

       

      Sponsor
Affiliates & Beneficiaries

      
        	 
      	
                PRESENT

              	
                Forfeited
      Shares

              	
                Share
      Ownership

              	
                Earn-Out
      Escrow

              	
                Conditional
      Share Escrow

              
	
                Beneficiaries

              	
                Share
      Ownership

              	 
      	
                Warrants
      Ownership/Forfeit

              	
                Total
      Sponsor Shares After Forfeit

              	
                Forfeited
      Shares

              	
                Shares
      not subject to Earn-Out or Conditions

              	
                Earn-Out
      Shares Ownership

              	
                Conditional
      Shares Ownership

              
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                Robert
      Eu

              	
                173,275

              	
                16.3%

              	 
      	
                152,881

              	
                20,394

              	
                16,349

              	
                101,920

              	
                136,532

              
	
                W.R.
      Hambrecht + Co, LLC

              	
                178,275

              	
                16.8%

              	
                25,000

              	
                157,293

              	
                20,982

              	
                16,821

              	
                52,431

              	
                140,472

              
	
                Hambrecht
      1980 Revocable Trust

              	
                88,333

              	
                8.3%

              	
                441,667

              	
                77,937

              	
                10,396

              	
                8,335

              	
                25,979

              	
                69,602

              
	
                AEX
      Enterprises Limited1

              	
                88,333

              	
                8.3%

              	
                441,6672

              	
                77,937

              	
                10,396

              	
                8,335

              	
                25,979

              	
                69,602

              
	
                John
      Wang

              	
                230,000

              	
                21.7%

              	
                0

              	
                202,930

              	
                27,070

              	
                21,702

              	
                67,643

              	
                181,228

              
	
                Marbella
      Capital Partners Ltd

              	
                40,000

              	
                3.8%

              	
                200,000

              	
                35,292

              	
                4,708

              	
                3,774

              	
                11,764

              	
                31,518

              
	
                Cannon
      Family Irrevocable Trust

              	
                173,275

              	
                16.3%

              	
                0

              	
                152,881

              	
                20,394

              	
                84,615

              	
                0

              	
                68,266

              
	
                Shea
      Ventures, LLC

              	
                88,333

              	
                8.3%

              	
                441,667

              	
                77,937

              	
                10,396

              	
                8,335

              	
                25,979

              	
                69,602

              
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                TOTALS

              	
                1,059,825

              	
                100.0%

              	
                1,550,000

              	
                935,089

              	
                124,736

              	
                168,266

              	
                311,696

              	
                766,823

              

      

      

        
          

      

      
        1 AEX
Capital LLC holds warrants while AEX Enterprises holds Sponsor
Shares

      

       2 Of these
Warrants, Warrants to purchase 250,000 ordinary shares will be transferred to an
investor.  [Pope Investments II, LLC] at the direction of the
Company.

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

       

      Exhibit
B

      To

      Amendment
No. 1 to Sponsor Agreement

      Dated
as of March 11, 2010

       

      For
purposes of Section I-1.A.(3), the offering price for the Company’s ordinary
shares shall be determined using the following methodology:

       

      The
offering price for the public offering will ultimately be determined
by  negotiation between the underwriters and the Company, with the
assistance of the Sponsor Representatives, in an auction process after the
auction closes and does not necessarily bear any direct relationship to the
Company’s assets, current earnings or book value or to any other established
criteria of value, although these factors are considered in establishing the
initial public offering price.  The principal factor in establishing
the public offering price is the clearing price resulting from the auction,
although other factors are considered as described below.  The
clearing price will be used by the underwriters and the Company as the principal
benchmark, among other considerations described below, for purposes of
determining if the condition set forth in Section I-1.A(3) has been
met.

       

      The
clearing price is the highest price at which all of the shares offered may be
sold to potential investors, based on the valid bids at the time the auction is
closed.  Depending on the public offering price and the amount of the
increase or decrease, an increase or decrease in the number of shares to be sold
in the offering could affect the clearing price and result in either more or
less dilution to potential investors in this offering.

       

      Depending
on the outcome of negotiations between the underwriters and the Company, the
offering price may be lower, but will not be higher, than the clearing
price.  The bids received in the auction and the resulting clearing
price are the principal factors used to determine the public offering price of
the stock in the offering.  The public offering price may be lower
than the clearing price depending on a number of additional factors, including
general market trends or conditions, the underwriters’ assessment of the
Company’s management, operating results, capital structure and business
potential and the demand and price of similar securities of comparable
companies.

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