Document:

STATE
OF LOUISIANA  §

    PARISH
OF ORLEANS   §

     

    PROMISSORY
NOTE

     

    
      	
              $750,000.00

            	
              AUGUST
      2, 2010

            

    

     

    FOR VALUE RECEIVED, ATSI COMMUNICATIONS, INC., a
Nevada corporation (“Parent”),
DIGERATI NETWORKS, INC.,
a Texas corporation (“DNI”),
and DIGERATI BROADBAND,
INC., a Texas corporation (“DBI”,
and together with DNI, “Subsidiary”,
and Subsidiary, together with Parent, jointly and severally, “Debtor”),
unconditionally and jointly and severally promise to pay to the order of THERMO CREDIT, LLC, a Colorado
limited liability company (together with its successors and assigns, “Lender”),
without setoff, at its offices at 639 Loyola Avenue, Suite 2565, New Orleans,
Louisiana 70113, or at such other place as may be designated by Lender, SEVEN HUNDRED FIFTY THOUSAND AND
NO/100 DOLLARS ($750,000.00) (as such amount may be amended from time to
time by written instrument, the “Commitment
Amount”), or so much thereof as may from time to time be advanced and
outstanding hereunder in immediately available funds, together with interest
computed daily on the outstanding principal balance hereunder, at the annual
interest rate set forth in this Note (the “Rate”),
and in accordance with the payment schedule, indicated below.  This
PROMISSORY NOTE (this
“Note”)
is executed pursuant to and evidences the Indebtedness funded by Lender and
secured pursuant to that certain LOAN AND SECURITY AGREEMENT
between Debtor and Lender dated as of even date herewith (as the same may be
amended, restated, supplemented, renewed or extended from time to time, the
“Loan
Agreement”) to which reference is made for a statement of the collateral,
rights and obligations of Debtor and Lender in relation thereto; but neither
this reference to the Loan Agreement nor any provision thereof shall affect or
impair the absolute and unconditional obligation of Debtor to pay unpaid
principal of and interest on this Note when due.  Capitalized terms
not otherwise defined herein shall have the same meanings as in the Loan
Agreement.

     

    1.    Rate.  The
Rate shall be the LESSER
of (a) the MAXIMUM
RATE, or (b) the GREATER
of: (i) the PRIME
RATE plus EIGHT AND ONE
QUARTER OF ONE PERCENT (8.25%), or (ii) ELEVEN AND ONE HALF OF ONE PERCENT
(11.50%).  The term “Prime
Rate” means a variable rate of interest per annum equal to the prime rate
as published from time to time in the “Bonds, Rates &
Yields” table of The
Wall Street Journal,
Southwest Edition.   If such prime
rate, as so quoted, is split between two or more different interest rates, then
the prime rate shall be the highest of such interest rates.  If the
prime rate is no longer published in the “Bonds, Rates &
Yields” table of The
Wall Street Journal, Southwest Edition, then the
Prime Rate shall be (a) the rate of interest per annum established from
time to time by Lender and designated as its base or prime rate, which may not
necessarily be the lowest rate charged by Lender and is set by Lender in its
sole discretion, or (b) if Lender does not publish or announce a base or
prime rate, or does so infrequently or sporadically, then the Prime Rate shall
be determined by reference to another base rate, prime rate, or similar lending
rate index, generally accepted on a national basis, as selected by Lender in its
sole and absolute discretion.  Notwithstanding any provision of this
Note or any other agreement or commitment between Debtor and Lender, whether
written or oral, express or implied, Lender shall never be entitled to charge,
receive, or collect, nor shall amounts received hereunder be credited so that
Lender shall be paid, as interest a sum greater than interest at the Maximum
Rate.  It is the intention of the parties that this Note, and all Loan
Documents securing the payment of this Note or executed or delivered in
connection therewith, shall comply with applicable law.  If Lender
ever contracts for, charges, receives or collects anything of value under the
Loan Documents which is deemed to be interest under applicable law, and if the
occurrence of any circumstance or contingency, whether acceleration of maturity
of this Note, prepayment of this Note, delay in advancing proceeds of this Note,
or any other event, should cause such interest to exceed the Maximum Rate, any amount
which exceeds interest at the Maximum Rate shall be applied to the reduction of
the unpaid principal balance of this Note, and if this Note and such other
indebtedness are paid in full, any remaining excess shall be paid to
Debtor.  In determining whether the interest payable hereunder exceeds
interest at the Maximum Rate, the total amount of interest shall be spread,
prorated and amortized throughout the entire term of this Note until its payment
in full.  The term “Maximum
Rate” as used in this Note means the maximum nonusurious rate of interest
per annum permitted by whichever of applicable United States federal law or
Louisiana law permits the higher interest rate, including to the extent
permitted by applicable law, any amendments thereof hereafter or any new law
hereafter coming into effect to the extent a higher Maximum Rate is permitted
thereby.  If at any time the Rate shall exceed the Maximum Rate, the
Rate shall be automatically limited to the Maximum Rate until the total amount
of interest accrued hereunder equals the amount of interest which would have
accrued if there had been no limitation to the Maximum Rate.

    

    PROMISSORY
NOTE – PAGE 1

    THERMO
CREDIT, LLC – ATSI COMMUNICTIONS, INC.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    2.    Accrual
Method. Interest on the
Indebtedness evidenced by this Note shall be computed on the basis of a THREE HUNDRED SIXTY (360) day
year and shall accrue on the actual number of days elapsed.  In
computing the number of days during which interest accrues, the day on which
funds are initially advanced shall be included regardless of the time of day
such advance is made, and the day on which funds are repaid shall be included
unless repayment is credited prior to the close of business on the Business Day
received as provided herein.

          

    3.    Rate
Change Date. The Rate will change
each time and as of the date that the Prime Rate changes.

               

    4.    Payment
Schedule.  Except as expressly
provided herein to the contrary, all payments on this Note shall be applied in
the following order of priority: (a) the payment or reimbursement of any
reasonable out-of-pockets costs and expenses (other than the outstanding
principal balance hereof and interest hereon) for which either Debtor shall be
obligated or Lender shall be entitled pursuant to the provisions of this Note or
the other Loan Documents, (b) the payment of accrued but unpaid interest
and fees thereon, and (c) the payment of all or any portion of the
principal balance hereof then outstanding hereunder, in the direct order of
maturity.  If an Event of Default exists under any of the other Loan
Documents, then Lender may, at the sole option of Lender, apply any such
payments, at any time and from time to time, to any of the items specified in
clauses (a), (b) or (c) above without regard to the order of priority
otherwise specified herein and any application to the outstanding principal
balance hereof may be made in either direct or inverse order of
maturity.  If any payment of principal or interest on this Note shall
become due on a day other than a Business Day, such payment shall be made on the
next succeeding Business Day and such extension of time shall be included in
computing interest in connection with such payment.  The outstanding
principal balance of this Note, shall be due and payable on the earlier of
(i) the acceleration of the Indebtedness pursuant to the terms of the Loan
Documents; (ii) AUGUST 2,
2012; or (iii) such other date as may be established by a written
instrument between Debtor and Lender, from time to time (the “Maturity
Date”).  Accrued and unpaid interest on the outstanding
principal balance of this Note shall be due and payable monthly commencing on
AUGUST 31, 2010 and
continuing on the LAST
day of each calendar month thereafter and on the Maturity
Date.  Debtor may borrow, repay and reborrow hereunder at any time, up
to a maximum aggregate amount outstanding at any one time equal to the principal
amount of this Note; provided, however, that
Debtor is not in default under any provision of this Note, any other documents
executed in connection with this Note, or any other Loan Documents now or
hereafter executed in connection with any other obligation of Debtor to Lender,
and provided further, however,
that the borrowings hereunder do not exceed any borrowing base or other
limitation on borrowings by Debtor.  Lender shall incur no liability
for its refusal to advance funds based upon its determination that any
conditions of such further advances have not been met.  Lender’s
records of the amounts borrowed from time to time shall be conclusive proof
thereof absent
manifest error.  Debtor acknowledges and agrees that, notwithstanding
any provisions of this Note or any other documents executed in connection with
this Note, Lender has no obligation to make any advance, and that all advances
are at the sole discretion of Lender.

           

    5.    Delinquency
Charge.  To the extent permitted by law, a delinquency charge
will be imposed in an amount not to exceed FIVE PERCENT (5.00%) of the
amount of any payment of principal or interest on this Note that is more than
FIVE (5) days past
due.  The provisions herein for a delinquency charge shall not be
deemed to extend the time for any payment hereunder or to constitute a “grace
period” giving Debtor a right to cure any Event of Default.

               
 

    6.    Waivers,
Consents and Covenants.  Debtor, any endorser or guarantor
hereof, or any other party hereto (individually an “Obligor”
and collectively “Obligors”)
and each of them jointly and severally: (a) waives presentment, demand,
protest, notice of demand, notice of intent to accelerate, notice of
acceleration of maturity, notice of protest, notice of nonpayment, notice of
dishonor, and any other notice required to be given under the law to any Obligor
in connection with the delivery, acceptance, performance, default or enforcement
of this Note, any endorsement or guaranty of this Note, or any other documents
executed in connection with this Note or any other Loan Documents now or
hereafter executed in connection with any obligation of Debtor to Lender;
(b) consents to all delays, extensions, renewals or other modifications of
this Note or the Loan Documents, or waivers of any term hereof or of the Loan
Documents, or release or discharge by Lender of any of Obligors, or release,
substitution or exchange of any security or Collateral for the payment hereof,
or the failure to act on the part of Lender, or any indulgence shown by Lender
(without notice to or further assent from any of Obligors); (c) agrees that
no such action, failure to act or failure to exercise any right or remedy by
Lender shall in any way affect or impair the obligations of any Obligors or be
construed as a waiver by Lender of, or otherwise affect, any of Lender’s rights
under this Note, under any endorsement or guaranty of this Note or under any of
the Loan Documents; and (d) agrees to pay, on demand, all costs and
expenses of collection or defense of this Note or of any endorsement or guaranty
hereof and/or the enforcement or defense of Lender’s rights with respect to, or
the administration, supervision, preservation, or protection of, or realization
upon, any property securing payment hereof, including, without limitation,
reasonable attorney’s fees, including fees related to any suit, mediation or
arbitration proceeding, out of court payment agreement, trial, appeal,
bankruptcy proceedings or other proceeding, in such amount as may be determined
reasonable by any arbitrator or court, whichever is applicable.

    
      

      PROMISSORY
NOTE – PAGE 2

      THERMO
CREDIT, LLC – ATSI COMMUNICTIONS, INC.

       

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    7.    Prepayments.  Debtor
may prepay the unpaid principal balance of this Note at any time by paying, in
addition to the entire unpaid principal amount, all accrued interest and fees
and any other sums due Lender at the time of prepayment, PLUS
an amount equal to (a) FOUR PERCENT (4.00%) of the
Commitment Amount times (b) a
percentage which shall be (x) the number of months remaining until the date
in clause (ii) of
the definition of Maturity Date (including the month the prepayment is made)
divided by (y) TWENTY-FOUR
(24), provided, however, that no
prepayment premium shall be due and payable for any prepayments received by
Lender THIRTY (30) days or less before the
Maturity Date.

     

    8.    Remedies
Upon Default.  Whenever there is a Event of Default
(a) the entire balance outstanding hereunder and all other obligations of
Debtor to Lender (however acquired or evidenced) shall, at the option of Lender,
become immediately due and payable and any obligation of Lender to permit
further borrowing under this Note shall immediately cease and terminate, and/or
(b) to the extent permitted by law, the Rate of interest on the unpaid
principal shall be increased at Lender’s discretion up to (i) the Maximum
Rate, or (ii) if no Maximum Rate, EIGHTEEN PERCENT (18.00%) per
annum (the “Default
Rate”).  The provisions herein for a Default Rate shall not be
deemed to extend the time for any payment hereunder or to constitute a “grace
period” giving  Obligors a right to cure any default.  At
Lender’s option, any accrued and unpaid interest, fees or charges may, for
purposes of computing and accruing interest on a daily basis after the due date
of this Note or any installment thereof, be deemed to be a part of the principal
balance, and interest shall accrue on a daily compounded basis after such date
at the Default Rate provided in this Note until the entire outstanding balance
of principal and interest is paid in full.  Upon an Event of Default,
Lender is hereby authorized at any time, at its option and without notice or
demand, to set off and charge against any deposit accounts of any Obligor (as
well as any money, instruments, securities, documents, chattel paper, credits,
claims, demands, income and any other property, rights and interests of any
Obligor), which at any time shall come into the possession or custody or under
the control of Lender or any of its agents, affiliates or correspondents, any
and all obligations due hereunder.  Additionally, Lender shall have
all rights and remedies available under each of the Loan Documents, as well as
all rights and remedies available at law or in equity.

     

    9.    Waiver.  The
failure at any time of Lender to exercise any of its options or any other rights
hereunder shall not constitute a waiver thereof, nor shall it be a bar to the
exercise of any of its options or rights at a later date.  All rights
and remedies of Lender shall be cumulative and may be pursued singly,
successively or together, at the option of Lender.  The acceptance by
Lender of any partial payment shall not constitute a waiver of any default or of
any of Lender’s rights under this Note.  No waiver of any of its
rights hereunder, and no modification or amendment of this Note, shall be deemed
to be made by Lender unless the same shall be in writing, duly signed on behalf
of Lender; each such waiver shall apply only with respect to the specific
instance involved, and shall in no way impair the rights of Lender or the
obligations of Obligors to Lender in any other respect at any other
time.

     

    10. 
   Applicable
Law, Venue and Jurisdiction.  Debtor agrees that this Note
shall be deemed to have been made in the State of Louisiana at Lender’s address
indicated at the beginning of this Note and shall be governed by, and construed
in accordance with, the laws of the State of Louisiana and is performable in the
City and Parish of Louisiana indicated at the beginning of this
Note.  In any litigation in connection with or to enforce this Note or
any endorsement or guaranty of this Note or any Loan Documents, Obligors, and
each of them, irrevocably consent to and confer personal jurisdiction on the
courts of the State of Louisiana or the United States courts located within the
New Orleans, Orleans Parish, State of Louisiana.  Nothing contained
herein shall, however, prevent Lender from bringing any action or exercising any
rights within any other state or jurisdiction or from obtaining personal
jurisdiction by any other means available under applicable law.

    
      

      PROMISSORY
NOTE – PAGE 3

      THERMO
CREDIT, LLC – ATSI COMMUNICTIONS, INC.

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    11.    Partial
Invalidity.  The unenforceability or invalidity of any
provision of this Note shall not affect the enforceability or validity of any
other provision herein and the invalidity or unenforceability of any provision
of this Note or of the Loan Documents to any person or circumstance shall not
affect the enforceability or validity of such provision as it may apply to other
persons or circumstances.

               

    12.    Binding
Effect.  This Note shall be binding upon and inure to the
benefit of Debtor, Obligors and Lender and their respective successors, assigns,
heirs, administrators and personal representatives, provided, however,
that no obligations of Debtor or Obligors hereunder can be assigned without
prior written consent of Lender.

              
 

    13.    Controlling
Document.  To the extent that this Note conflicts with or is in
any way incompatible with any other document related specifically to the loan
evidenced by this Note, this Note shall control over any other such document,
and if this Note does not address an issue, then each other such document shall
control to the extent that it deals most specifically with an
issue.

               

    14.    COMMERCIAL
PURPOSE.  DEBTOR REPRESENTS TO LENDER THAT THE PROCEEDS OF THIS
LOAN ARE TO BE USED PRIMARILY FOR BUSINESS, COMMERCIAL OR AGRICULTURAL PURPOSES
AND THIS NOTE IS SUBJECT TO LOUISIANA REVISED STATUTES § 9:3509, ET
SEQ.  DEBTOR ACKNOWLEDGES HAVING READ AND UNDERSTOOD, AND AGREES TO BE
BOUND BY, ALL TERMS AND CONDITIONS OF THIS NOTE.

                    
  

    15.    Collection.  If
this Note is placed in the hands of an attorney for collection, or if it is
collected through any legal proceeding at law or in equity or in bankruptcy,
receivership or other court proceedings, Debtor agrees to pay all costs of
collection, including, but not limited to, court costs and reasonable attorneys’
fees.

               

    16.    Notice of
Balloon Payment.  At maturity (whether by acceleration or
otherwise), Debtor must repay the entire outstanding principal balance of this
Note and accrued and unpaid interest then due.  Lender is under no
obligation to refinance the outstanding principal balance of this Note (if any)
at that time.  Debtor will, therefore, be required to make payment out
of other assets Debtor may own; or Debtor will have to find a lender willing to
lend Debtor the money at prevailing market rates, which may be higher than the
interest rate on the outstanding principal balance of this Note.  If
Obligors have guaranteed payment of this Note, Obligors may be required to
perform under such guaranty.

               

    17.    Waiver Of
Jury Trial.  DEBTOR HEREBY IRREVOCABLY AND
UNCONDITIONALLY WAIVES ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, SUIT,
PROCEEDING, OR COUNTERCLAIM THAT RELATES TO OR ARISES OUT OF THIS NOTE OR ANY OF
THE LOAN DOCUMENTS OR THE ACTS OR FAILURE TO ACT OF OR BY LENDER IN THE
ENFORCEMENT OF ANY OF THE TERMS OR PROVISIONS OF THIS NOTE OR THE OTHER LOAN
DOCUMENTS.

     

    REMAINDER
OF PAGE LEFT INTENTIONALLY BLANK

    
           

      PROMISSORY
NOTE – PAGE 4

      THERMO
CREDIT, LLC – ATSI COMMUNICTIONS, INC.

    

     

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

               EXECUTED as of the date first
written above.

     

    
      
        
          
            
              
                
                  
                    
                      
                        	
                                DEBTOR:

                              	 
      	
                                ADDRESS:

                              
	 	 	 
	
                                ATSI
      COMMUNICATIONS, INC.

                              	 
      	
                                3201
      Cherry Ridge St.

                              
	 
      	 
      	
                                San
      Antonio, TX 78230

                              
	
                                By:

                              	
                                

                                  /s/
      Arthur Smith

                                

                              	 
      	 
      
	
                                Name:

                              	
                                Arthur
      L. Smith

                              	 
      	 
      
	Title: 
      	
                                CEO

                              	 
      	 
      
	 
      	 
      	 
      
	
                                DIGERATI
      NETWORKS, INC.

                              	
                                   

                              	
                                3201
      Cherry Ridge St.

                              
	 
      	 
      	
                                San
      Antonio, TX 78230

                              
	
                                By:

                              	
                                      
                                  /s/
      Antonio Estrada, Jr.

                                

                              	 
      	 
      
	
                                Name:

                              	
                                Antonio
      Estrada, Jr.

                              	 
      	 
      
	
                                Title:

                              	
                                Sr.
      VP of Finance and Corporate Controller

                              	 
      	 
      
	 
      	 
      	 
      
	
                                DIGERATI
      BROADBAND, INC.

                              	 
      	
                                3201
      Cherry Ridge St.

                              
	 
      	 
      	
                                San
      Antonio, TX 78230

                              
	
                                By:

                              	
                                

                                  /s/
      Antonio Estrada, Jr.

                                

                              	 
      	 
      
	
                                Name:

                              	
                                Antonio
      Estrada, Jr.

                              	 
      	 
      
	
                                Title:

                              	
                                Sr.
      VP of Finance and Corporate Controller

                              	 
      	 
      

                      

                    

                  

                

              

            

          

        

      

    

    

    PROMISSORY
NOTE – PAGE 5

    THERMO
CREDIT, LLC – ATSI COMMUNICTIONS, INC.LETTER
OF INTENT

      意向书

      

      THIS LETTER OF INTENT (the
“LOI”), is entered into
by and,

      本意向书(简称“意向书”)由以下双方订立,

      

      
        	
                BETWEEN:

              	
                FAR EAST WIND POWER
      CORP., a Nevada corporation having an office at 11811 N. Tatum
      Blvd. Suite 3031, Phoenix, Arizona 85028,
USA

              

      

      

      
        	
                 
      

              	
                (“COMPANY”)

              

      

      
        	
                 包括:

              	
                FAR EAST WIND POWER
      CORP., 一家办公地址为11811
      N. Tatum Blvd. Suite 3031, Phoenix, Arizona 85028, USA的内华达州公司

              

      

       
(简称“公司”)

      

      
        	
                AND:

              	
                TAITONG ENERGY LIMITED,
      a People’s Republic of China company having an office at Fuyuan
      County, Yunnan Province, China

              

      

      

      
        	
                 
      

              	
                (“OWNER”)

              

      

      
        
          	
                  以及:

                	
                  [TAITONG
      ENERGY LIMITED,],一家地址位于中国云南省富源县的中国公司

                

        

      

      

      
         (简称“所有权人”)

      

      

      BACKGROUND
AND PURPOSE

      背景与目的

      

      The
Company is a publicly traded company with the ticker symbol “FEWP” on the United
States over-the-counter (“OTC”) bulletin board
securities market.

      公司是在美国场外交易(简称“OTC”)市场行情公告板证券市场挂牌交易的上市公司,代码为“FEWP”。

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      

      The
Company is interested in pursuing and developing opportunities in electrical
energy production and transmission in China, including acquiring wind farms and
wind parks.

      公司对于在中国寻求和开发电力能源生产和传输业务,包括获得风电场和风力发电站,怀有兴趣。

      

      The Owner
is the owner of, or has procured the rights to, a wind farm or wind park in
Yunnan Province (“Yunnan”) with potential to
generate and sell installed capacity of up to 49.5 MW (the “Project”).

      所有权人是云南省(“云南”)的一处风电场或风力发电站的所有权人或已经取得该风电场或风力发电站的权利。该风电场或风力发电站具有生产并销售最大装机容量49.5兆瓦的潜能(简称“项目”)。

      

      The
Company and the Owner have both expressed interest in jointly developing the
Project.

      公司和所有权人均已表示有意合作开发项目。

      

      AGREEMENT

      协议

      

      NOW, THEREFORE, in
consideration of the mutual agreements and representations contained herein, and
other good and valuable consideration, the receipt and sufficiency of which is
hereby acknowledged, the parties agree as follows:

      有鉴于此,基于本意向书中包含的双方的协议与陈述,以及其它有价值的对价(特此确认收到该等对价及其充分性),双方达成如下一致:

      

      
        	
                1.

              	
                This
      LOI constitutes a binding agreement with regard to the various matters set
      forth herein and shall become effective as of the date set forth on the
      signature page hereto (the “Effective
      Date”).

              

      

      本意向书构成一项关于本意向书规定的各个事项的有约束力的协议,且应在本意向书签字页规定的日期生效(“生效日”)。

      
        
           

        

        
          2

          
            

          

        

        
           

        

      

      

      
        	
                2.

              	
                The
      Owner has applied for all of the government approvals, permits and
      authorizations required by the PRC law in relation to the development of
      the Project (“Project
      Approvals”) and set up the project company (“Project Company”). The
      Owner hereby stipulates that he is obligated to obtain the necessary
      approvals and permits for the Project and will work with a goal in mind,
      such that the Project Approvals(Economic
      Reform Commission’s Official Approval is called” LuTei” will be obtained
      by September 30, 2010.

              

      

      所有权人已经根据中国法律申请了与项目开发有关的批准,许可与授权(“项目批复”)并设立了项目公司(“项目公司”)。所有权人在此声明其有义务为项目取得必要的批复与许可,并为此不断努力,确保项目省发改委正式通知即“路条”批复于2010年9月30日前取得。

      

      
        	
                3.

              	
                The
      Owner shall make available on a best efforts basis, documents, personnel,
      data, facilities, information, Project Approvals and materials, to the
      Company so that the Company
      can conduct due diligence on the
Project.

              

      

      所有权人应尽最大努力向公司提供文件、人员、数据、设施、信息、项目批复和材料,从而使公司可对项目进行尽职调查。

      

      
        	
                4.

              	
                If
      the Company, after the due diligence, believes that the Owner has obtained
      all of Project Approvals, the Company or a wholly-owned subsidiary of the
      Company, and the Owner will enter into a definitive agreement containing
      substantially the same terms and provisions as set forth in this LOI (the
      “Definitive
      Agreement”). After the transaction contemplated under the
      Definitive Agreement is completed, the Project Company will be converted
      into a Sino-foreign equity joint venture company (“JV”) which is 51% owned
      by the Owner and 49% owned by the Company. The Owner and the Company’s
      investment amount in the JV will be determined according to PRC law and
      will be calculated upon final review of the capital investment into the
      Project Company prior to the JV being
formed.

              

      

      如果公司在尽职调查后,认为所有权人已获得所有项目批复,公司或公司的一家全资子公司将与所有权人签订一份包含与本意向书列明的条款和规定实质上内容相同的最终协议(简称“最终协议”)。在最终协议下的交易完成后,项目公司将变更为一家中外合资经营企业(“合资公司”),其中所有权人持有51%的股权,公司持有49%的股权。集体投资资本金双方评估后再定。

      
        
           

        

        
          3

          
            

          

        

        
           

        

      

      

      
        	
                 
      

              	
                5.

              	
                The
      Company will enter into a shareholder loan agreement with the JV and
      provide shareholder loans to the JV (“Shareholder Loan”) up to
      USD 20,000,000. All funding to the JV from the Company will be considered
      to be Shareholder Loans and are hereby understood to be liabilities of the
      JV owed back and payable to the Company once the JV receives adequate bank
      financing from a PRC bank. The Company agrees that the total investment
      amount will be adjusted during the development phase of the Project in
      order to account for adjustments to the exchange rate in effect for the
      Chinese Renminbi at the time of each tranche of investment in USD which is
      expected to occur in direct wire payments from the Company or its
      designees, to the JV such that the total amount of Chinese Renminbi to be
      invested in the JV by the Company, irrespective of the exchange rate, will
      be determined as of the date of each foreign exchange transaction executed
      by the JV whereby the Company has funded the JV. Should the JV not receive
      adequate funding from a PRC bank in order to repay the Shareholder Loan to
      the Company, the Company will agree to a repayment schedule whereby the
      Shareholder Loan is repaid to the Company through monthly fixed payments
      equal to 1/60th
      of the outstanding Shareholder Loan as of the date of receipt of cash from
      a PRC bank over a 5 year period with interest at 10% per annum. Interest
      charged on the Shareholder Loan will be payable only once, as an
      additional lump sum amount to be paid along with the final payment,
      payment 60/60, against the Shareholder
Loan

              

      

      公司将与合资公司签订股东贷款协议并向合资公司提供最多20,000,000美元的股东贷款(“股东贷款”)。公司对合资公司的所有融资均将被视作股东贷款,合资公司从中国境内的银行获得充分的银行贷款后即应偿还股东贷款。公司同意,在项目的开发阶段将对其投入的资金总额进行调整,以便在每次投资时(该投资将由公司或其指定方以直接电汇方式付给合资公司)考虑到美元兑人民币的实际汇率的调整,从而确保无论汇率如何,公司向合资公司投入的全部资金(以人民币计算)均按注资当日外汇价格计算。如果合资公司未能为了偿还公司的股东贷款而从中国境内的银行获得充分的融资,则公司将同意如下还款时间表,即自合资公司从一家中国境内的银行收到贷款之日起的5年内,每个月固定偿还股东贷款金额的1/60,利息按照年利率10%计算。股东贷款的全部利息应在最后一次还本(即第60次还款)时一次付清。

      
        
           

        

        
          4

          
            

          

        

        
           

        

      

      
        	
                6.

              	
                The
      Owner agrees that after the construction of the Project is completed, it
      will continue to assist in procuring the JV to obtain approximately USD
      80,000,000 bank loans [in equivalent RMB] to fund the Project (the “Bank Loan”). The Bank
      Loan will be obtained from a PRC bank. The Company hereby agrees that the
      amount of the Bank Loan will be adjusted during the development phase in
      order to account for adjustments to the exchange rate in effect for the
      Chinese Renminbi. The JV will pay off the balance owed to the Company once
      the Bank Loan proceeds are
received.

              

      

      所有权人同意,在项目建设完成后,所有权人将继续协助合资公司获得大约80,000,000美元的[等值人民币的]银行贷款(“银行贷款”),从而为项目提供资金支持。银行贷款将从中国的银行取得。公司同意将在项目的开发阶段对银行贷款进行调整,以便将在每次以美元兑换人民币时美元兑人民币的有效汇率的调整考虑在内。合资公司将在获得银行贷款资金后立即付清其所欠公司的款项。

      

      
        	
                7.

              	
                The
      JV will enter into an Equipment Purchase
      Agreement with an equipment supplier.  The total price of the
      equipment will be approximately [USD 45,000,000.  The cash
      payments to the equipment supplier will be staggered and will be deferred
      as much as possible such that the equipment supplier will be effectively
      financing the JV’s purchase of the equipment.  The JV will pay off the balance owed to the
      equipment supplier once the Bank Loan
      proceeds are received.

              

      

      合资公司将与一家设备供应商签订设备采购协议。设备总价大约为45,000,000美元]。对设备供应商的付款应尽可能延后以便实际上达到设备供应商为合资公司购买设备提供融资的效果。合资公司在获得银行贷款后将向设备供应商付清余款。

      

      
        	
                8.

              	
                Upon
      the Effective
      Date, Owner hereby
      grants the Company a right of first refusal to
      acquire Owner’s rights to develop a wind farm or
      wind park in
      Yunnan for
      additional installed capacity of up to
      99MW.  The second and third stages will follow the first stage’s
      format and structure.

              

      

      自生效日起,所有权人授予公司一项优先购买权,公司可以优先购买所有权人在云南开发额外装机容量达
99MW兆瓦的风电场或风力发电站的权利。第二期,第三期风电开发按照第一期的合作方案进行。

      
        
           

        

        
          5

          
            

          

        

        
           

        

      

      

      
        	
                9.

              	
                The
      Owner shall obtain the necessary approval of its shareholders to the terms
      and conditions of this LOI.

              

      

      就本意向书的条款和条件,所有权人应取得其股东的必要批准。

      

      
        	
                 
      

              	
                10.

              	
                At
      the end of the first month that the Project begins to generate a cash
      profit, the JV’s Board of Directors will institute a monthly dividend
      disbursement to the Owner and the Company that will equal the maximum
      amount allowable to be disbursed to the Owner and the Company in
      accordance with PRC law. The amount of the dividend distribution to the
      Owner and the Company will then be determined based on the ownership
      percentages of the Owner and the Company, respectively. The Board of
      Directors will authorize monthly dividend distributions from the first
      month that the Project begins to generate a cash profit. No change in this
      policy will be made in subsequent months unless the JV encounters
      significant cashflow difficulties and both the Owner and the Company agree
      to suspend the monthly dividend
distributions

              

      

      在项目开始产生现金利润的第一个月末,合资公司的董事会将为所有权人及公司按照中国法律所允许的可以分配给所有权人及公司的最大数额制定一份按月红利分配规则。分配给所有权人及公司的数额将分别按照所有权人及公司所拥有的股权比例进行分配。董事会对每月红利的分配将从项目开始产生现金利润的第一个月开始。这种分配方式将持续下去,除非合资公司遇到重大的现金流困难或者所有权人与公司都同意暂停每月红利分配。

      

      
        	
                11.

              	
                The
      Definitive Agreement shall contain various control provisions as described
      herein:

              

      

      最终协议应包含以下各项有关控制的条款:

      
        	
                 
      

              	
                (a)

              	
                The
      Company will have majority control of the Board of Directors of the
      JV.

              

      

      公司将对合资公司的董事会享有多数控制权。

      
        	
                 
      

              	
                (b)

              	
                The
      Company will have the sole right to approve of all cash disbursements from
      the JV’s bank accounts. A system will be designed whereby the Owner will
      present the proposed cash disbursements to the Company in a formal letter
      each month and the Company will then determine if the cash disbursements
      will be approved, on an item by item
basis.

              

      

      
        	
                 
      

              	
                公司应拥有批准从合资公司银行账户支出任何现金的唯一权利。应建立下列机制:所有权人每月以正式信函的方式向公司提交拟进行的现金支出,由公司逐项决定是否批准该等支出。

              

      

      
        
           

        

        
          6

          
            

          

        

        
           

        

      

      

      
        	
                 
      

              	
                (c)

              	
                The
      Company will have the sole right to approve the construction
      plan for the wind farm. The Owner will be
      responsible for presenting this construction plan to the Company. The Company will
      also have the sole right to approve of any modifications to the
      construction plan.

              

      

      
        	
                 
      

              	
                公司应拥有批准风电场建设计划的唯一权利。所有权人应负责向公司提交建设计划。公司同时应拥有批准对该等建设计划进行修改的唯一权利。

              

      

      
        	
                 
      

              	
                (d)

              	
                The
      Company will have the sole right to approve of any equity or debt
      financing that the JV contemplates and subsequently
    executes.

              

      

      
        	
                 
      

              	
                公司应拥有批准合资公司拟进行和签署的任何股本或债务的融资安排的唯一权利。

              

      

      
        	
                 
      

              	
                (e)

              	
                The
      Company will have the sole right to approve of any changes in the capital
      structure and ownership of the JV such that no JV ownership can be
      transferred to other parties without the approval of the Company.
      Secondarily, the Owner hereby provides the Company with a right of first
      refusal should the Owner wish to sell the Owner’s ownership stake in the
      JV. However, in the event a third party presents a more attractive
      purchase offer to the Owner, the Company will have thirty (30) days to
      match the third party’s purchase offer or the Owner will then have the
      sole right to accept the offer by the third party. However, in no event
      will the control provisions described within this LOI, and more fully
      defined in the Definitive Agreement, be modified as a result of any
      potential sale of the Owner’s ownership in the
  JV.

              

      

      
        	
                 
      

              	
                公司应拥有批准合资公司资本结构和所有权结构发生任何变化的唯一权利,且未经公司同意,合资公司的股权不得向任何第三方转让。其次,所有权人在此同意,所有权人欲将其持有的合资公司股权出售时,公司享有优先购买权。但是,如果任何第三方向所有权人提出了更具吸引力的购买要约,公司将有三十(30)天的时间符合该第三方要约,如果公司未能在此期限内符合第三方要约的要求,则所有权人有权接受该第三方要约。然而,在任何情况下,所有权人出售其在合资公司中的任何股权,均不得导致本意向书中有关控制的条款以及最终协议中最后予以详细规定的有关控制的条款发生变化。

              

      

      
        	
                 
      

              	
                (f)

              	
                The
      Company will maintain the majority of the positions on the JV’s Board of
      Directors and therefore shall have the sole right to approve of the cash
      dividend distributions to the Company and the Owner. All cash dividend
      distributions shall be payable to the Company and the Owner or designees
      of the Company or the Owner on a pro rata basis in accordance with the
      ownership percentages effective on the date of the declaration of a
      dividend from the JV by the Company’s Board of
  Directors.

              

      

      
        
           

        

        
          7

          
            

          

        

        
           

        

      

      

      公司将保持在合资公司的董事会中拥有多数席位,因此将享有批准向公司及所有权人现金分红的唯一权利。所有的现金分红应按照公司的董事会宣布合资公司进行红利分配之日公司及所有权人或公司或所有权人的指定代理人在合资公司的有效的股权比例进行分配。

      

      
        	
                12.

              	
                The
      Definitive Agreement shall contain customary representation and
      warranties, covenants and indemnification
  provisions.

              

      

      最终协议中应包含常规的陈述与保证,承诺与补偿规定。

      

      
        	
                13.

              	
                In
      consideration of the time and effort the Company will incur to pursue this
      transaction, the Owner agrees that, from the date of execution of this LOI
      (or, if sooner, until such time as the parties agree in writing to
      terminate this LOI) until the equity transfer contemplated in Section 4
      above is completed, neither the Owner nor its shareholders nor any person
      or entity acting on its behalf will in any way directly or indirectly (i)
      solicit, initiate, encourage or facilitate any offer to directly or
      indirectly purchase any part of the Project or assets related thereto,
      (ii) enter into any discussions, negotiations or agreements with any
      person or entity which provide for such purchase, or (iii) provide to any
      persons other than the Company or its representatives any information or
      data related to such purchase or afford access to the properties, books or
      records in relation to the Project and the Project Company to any such
      persons.  If the Owner, its shareholders or their representatives
      receive any inquiry or proposal offering to purchase the Project or any
      assets related thereto, the Owner will promptly notify the
      Company.

              

      

      
        	
                 
      

              	
                考虑到公司为推动该项交易即将投入的时间和精力,所有权人同意,从本意向书签署之日起直至上文第四条所述股权转让完成时(或者双方书面约定终止本意向书之日,以先发生的为准)为止,所有权人,其股东,以及代表其行事的任何人员或实体不会以任何方式直接或间接地(i)招揽、发起、鼓励或促进任何直接或间接收购项目或者项目的资产的要约,(ii)与准备进行该等收购的任何人员或实体进行任何协商、谈判,或是订立协议,或者(iii)向公司或其代表以外的任何人提供有关该等收购的任何信息或资料,或是向任何该等人提供接触所有权人的财产、帐册或记录的机会。如果所有权人,其股东或代表收到提议收购项目或是项目的任何资产的任何询价或建议,所有权人将立即通知公司。

              

      

      
        
           

        

        
          8

          
            

          

        

        
           

        

      

      

      
        	
                14.

              	
                No
      party hereto will make any disclosure or public announcements of the
      proposed transactions, the LOI or the terms thereof without the prior
      knowledge of the other parties, which shall not be unreasonably withheld,
      or except as required by relevant securities laws; provided, however, the
      Company may issue press releases in the ordinary course of business but
      will make no reference to the parties hereto unless their prior written
      consent is received.

              

      

      在另一方事先不知情的情况下(不得不合理地拒绝认可),本意向书项下任何一方均不得对拟议交易,本意向书或其条款做任何披露或公开声明,但相关证券法律要求披露或公开的除外;但是,公司可以在正常的业务运作过程中发布新闻稿,但除非已获本意向书各方书面同意,不得提及各方。

      

      
        	
                15.

              	
                Each
      party agrees and acknowledges that such party and its directors, officers,
      employees, agents and representatives will disclose business information
      and information about the proposed transaction in the course of securing
      financings for the Company and the Project and that the parties and their
      representatives may be required to disclose that information under the
      continuous disclosure requirements of the Securities Exchange Act of
      1934.

              

      

      双方同意并确认,该方及其董事、管理人员、雇员、代理和代表将在为公司和项目获取融资的过程中披露业务信息以及有关拟议交易的信息,并且双方及其代表可能被要求根据《1934年证券交易法》项下的持续披露要求披露该信息。

      

      
        	
                16.

              	
                This
      LOI shall be construed in accordance with, and governed by, the laws of
      the PRC, and each party separately and unconditionally subjects to the
      jurisdiction of any court of competent authority in the PRC, and the rules
      and regulations thereof, for all purposes related to this agreement and/or
      their respective performance
hereunder.

              

      

      本意向书适用中国法律,并据此作出解释,并且双方单独地无条件地受任何有适当管辖权的中国法院管辖,并受其有关本协议的所有目的及/或它们各自在协议项下的履行的法规和规则管辖。

      

      
        	
                17.

              	
                The
      parties shall prepare, execute and file any and all documents necessary to
      comply with all applicable federal and state securities laws, rules and
      regulations in any jurisdiction where they are required to do
      so.

              

      

      
        
           

        

        
          9

          
            

          

        

        
           

        

      

      

      为了符合联邦和州所有相关的证券法律、法规和规则中的要求,双方应在存在要求的任何司法管辖区准备和签署任何及所有必要的文件,并进行备案。

      

      
        	
                18.

              	
                If
      any term or provision hereof shall be held illegal or invalid, this LOI
      shall be construed and enforced as if such illegal or invalid term or
      provision had not been contained
herein.

              

      

      如果本意向书中的任何条款或规定被认定为非法或无效,本意向书应以假设其中从未包含该等非法或无效条款或规定的方式解释并执行。

      

      
        	
                19.

              	
                Unless
      otherwise stated herein, all references to currency in this LOI are
      references to the lawful currency of the United States of
      America.

              

      

      除非另有说明,本意向书中所提及的货币均为美利坚合众国的合法货币。

      

      
        	
                20.

              	
                This
      LOI may be executed in counterparts, by original or facsimile signature,
      with the same effect as if the signatures to each such counterpart were
      upon a single instrument; and each counterpart shall be enforceable
      against the party actually executing such counterpart.  All
      counterparts shall be deemed an original
copy.

              

      

      本意向书可签署一式多份,并可在原件上签署或者以传真签字的方式签署,每份副本上的签名应当如同单份文件上的签名一样具有同等效力;并且各份副本应当可以对实际签署该副本的一方强制执行。所有副本应被视为一份原件。

      

      
        	
                21.

              	
                The
      delay or failure of a party to enforce at any time any provision of this
      LOI shall in no way be considered a waiver of any such provision, or any
      other provision of this LOI.  No waiver of, delay or failure to
      enforce any provision of this LOI shall in any way be considered a
      continuing waiver or be construed as a subsequent waiver of any such
      provision, or any other provision of this
LOI.

              

      

      在任何情况下,在任何时间一方推迟或未能执行本意向书中的任何规定不得被视作对于本意向书中的任何该等规定或者任何其它规定的弃权。任何情况下,放弃、推迟或未能执行本意向书中的任何规定不得被视作持续弃权,或是对于本意向书中的任何该等规定或者任何其它规定的后续弃权。

      
        
           

        

        
          10

          
            

          

        

        
           

        

      

      DATED
EFFECTIVE: March 22nd, 2010

      生效日    2010年3月22日

      

      
        COMPANY:   
FAR
EAST WIND
POWER CORP.

      

      
        公司:FAR EAST WIND POWER
CORP.

      

      

      _____________________________________,
Authorized Signatory(授权签字人)

      

      
        	
                OWNER:

              	
                 
      Taitong Energy Limited

              

      

      
        
          	
                  所有权人:

                	
                   [______________________________________]

                

        

      

      

      _____________________________________,
Authorized Signatory(授权签字人)

      
        
           

        

        
          11

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