Document:

Unassociated Document

    EXHIBIT
      10.17

    

     

    _______,
      2008

    China
      Fundamental Acquisition Corporation

    Room
      2301, World-Wide House

    19
      Des
      Voeux Road

    Central,
      Hong Kong

     

    Chardan
      Capital Markets, LLC

    17
      State
      Street, Suite 1600

    New
      York,
      New York 10019

     

    Re:
      Initial Public Offering

     

    Gentlemen:

     

    The
      undersigned, a shareholder and purchaser of warrants exercisable for Ordinary
      Shares of China Fundamental Acquisition Corporation (the “Company”), in
      consideration of Chardan Capital Markets, LLC (“Chardan”) entering into a letter
      of intent, dated December 20, 2007 (“Letter of Intent”), to underwrite an
      initial public offering (“IPO”) of the securities of the Company and embarking
      on, undertaking and continuing to participate in the IPO process, hereby agrees
      as follows (certain capitalized terms used herein are defined in paragraph
      X
      hereof):

     

    I. (1) Except
      with respect to any of the IPO Shares acquired by the undersigned in connection
      with or following the IPO, the undersigned hereby (a) waives any and all right,
      title, interest or claim of any kind (a “Claim”) in or to all funds in the Trust
      Account and any remaining net assets of the Company upon liquidation of the
      Trust Account and dissolution of the Company, (b) waives any Claim the
      undersigned may have in the future as a result of, or arising out of, any
      contracts or agreements with the Company, and (c) agrees that the undersigned
      will not seek recourse against the Trust Account for any reason
      whatsoever.

     

    II. 
      To
      the
      extent that the Underwriters do not exercise their over-allotment option to
      purchase an additional 562,500Units of the Company, the undersigned agrees
      that
      he shall return to the Company for cancellation, at no cost, the number of
      Insider Shares he holds, determined by multiplying 2,054 shares by a fraction,
      (i) the numerator of which is 562,500minus the number of Ordinary Shares
      purchased by the Underwriters upon the exercise of their over-allotment option,
      and (ii) the denominator of which is 562,500.

     

    III. 
      Neither
      the undersigned, nor any Affiliate of the undersigned will be entitled to
      receive or accept a finder’s fee or any other compensation in the event the
      undersigned or any Affiliate originates a Business Combination.

     

    (1) The
      undersigned represents and warrants that:

     

    (a) No
      petition under the Federal bankruptcy laws or any state insolvency law has
      been
      filed by or against, or a receiver, fiscal agent or similar officer was
      appointed by a court for the business or property of the undersigned, or any
      partnership in which the undersigned was or is a general partner at or within
      two years prior to the date hereof, or any corporation or business association
      of which the undersigned was an executive officer at or within two years prior
      to the date hereof;

     

    
      
         

      

      
        1

        
          

        

      

      
         

      

    

     

    (b) The
      undersigned has not been convicted in any criminal proceeding nor is the
      undersigned currently a named subject of a pending criminal proceeding
      (excluding traffic violations and other minor offenses);

     

    (c) The
      undersigned has not been the subject of any order, judgment, or decree, not
      subsequently reversed, suspended or vacated, of any court of competent
      jurisdiction, permanently or temporarily enjoining the undersigned from, or
      otherwise limiting, the following activities:

     

    (i) Acting
      as
      a futures commission merchant, introducing broker, commodity trading advisor,
      commodity pool operator, floor broker, leverage transaction merchant, any other
      person regulated by the Commodity Futures Trading Commission, or an associated
      person of any of the foregoing, or as an investment adviser, underwriter, broker
      or dealer in securities, or as an affiliated person, director or employee of
      any
      investment company, bank, savings and loan association or insurance company,
      or
      engaging in or continuing any conduct or practice in connection with such
      activity; or

     

    (ii) Engaging
      in any activity in connection with the purchase or sale of any security or
      commodity or in connection with any violation of Federal or State securities
      laws or Federal commodities laws.

     

    IV.  The
      undersigned has full right and power, without violating any agreement by which
      he is bound, to enter into this letter agreement and to serve as an advisor
      of
      the Company.

     

    V.  The
      undersigned acknowledges and understands that Chardan and the Company will
      rely
      upon the agreements, representations and warranties set forth herein in
      proceeding with the IPO.

    

    VI.  The
      undersigned authorizes any employer, financial institution, or consumer credit
      reporting agency to release to Chardan and the Company and their respective
      legal representatives or agents (including any investigative search firm
      retained by Chardan or the Company) any information they may have about the
      undersigned’s background and finances (the “Information”). Neither Chardan nor
      the Company nor their respective agents shall be violating the undersigned’s
      right of privacy in any manner in requesting and obtaining the Information
      and
      the undersigned hereby releases them from liability for any damage whatsoever
      in
      that connection.

     

    VII.  If
      the
      Company solicits approval of its shareholders of a Business Combination, and/or
      the Extended Period, the undersigned agrees that he will vote all Ordinary
      Shares owned by it prior to the IPO (the “Insider Shares”), if any, in
      accordance with the majority of the votes cast by the holders of the IPO Shares,
      and all Ordinary Shares acquired in or following the IPO in favor of any
      Business Combination and the Extended Period.

     

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

     

    VIII.  The
      undersigned will escrow its Escrow Securities subject to the terms of a
      Securities Escrow Agreement which the Company will enter into with the
      undersigned and an escrow agent acceptable to the Company.

     

    IX.  This
      letter agreement shall be governed by and construed and enforced in accordance
      with the laws of the State of New York, without giving effect to conflicts
      of
      law principles that would result in the application of the substantive laws
      of
      another jurisdiction. The undersigned hereby (i) agrees that any action,
      proceeding or claim against him arising out of or relating in any way to this
      letter agreement (a “Proceeding”) shall be brought and enforced in the federal
      courts of the United States of America for the Southern District of New York,
      and irrevocably submits to the jurisdiction of such courts, which jurisdiction
      shall be exclusive, (ii) waives any objection to the exclusive jurisdiction
      of
      such courts and any objection that such courts represent an inconvenient forum
      and (iii) irrevocably agrees to appoint CT Corporation System as agent for
      the
      service of process in the State of New York to receive, for the undersigned
      and
      on his behalf, service of process in any Proceeding. If for any reason such
      agent is unable to act as such, the undersigned will promptly notify the Company
      and Chardan and appoint a substitute agent acceptable to each of the Company
      and
      Chardan within 30 days and nothing in this letter will affect the right of
      either party to serve process in any other manner permitted by law.

     

    X.  As
      used
      herein, (i) a “Business Combination” shall mean an acquisition by the Company,
      by merger, stock exchange, asset acquisition, reorganization or similar business
      combination, or control through contractual arrangements, of an operating
      business or businesses in the People’s Republic of China; (ii) “Ordinary Share”
shall mean the ordinary share, par value $0.001 per share, of the Company;
      (iii)
“Immediate Family” shall mean, with respect to any person, such person’s spouse,
      children, parents and siblings (including any such relative by adoption or
      marriage); (iv) “Insiders” shall mean all officers, directors and shareholders
      of the Company immediately prior to the IPO; (v) “Insider Shares” shall mean all
      of the Ordinary Shares owned by an Insider prior to the IPO; (vi) “IPO Shares”
shall mean the Ordinary Shares issued in the Company’s IPO; (vii) “Trust
      Account” shall mean the trust account in which most of the proceeds to the
      Company of the IPO will be deposited and held for the benefit of the holders
      of
      the IPO shares, as described in greater detail in the prospectus relating to
      the
      IPO; and (viii) “Extended Period” shall mean the extension, upon shareholder
      approval, of the period of time during which the Company may complete a Business
      Combination from 24 months to 36 months if the Company anticipates that it
      may
      not consummate a Business Combination within 24 months if a letter of intent
      or
      definitive agreement with respect to a business combination has been entered
      into within 18 months.

    

    XI.  This
      letter agreement shall supersede any other letter agreement signed by the
      undersigned with respect to the subject matter hereof.

     

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

     

    
      	 	 	 
	 	
              Globis
                Capital Partners L.P.

            
	 
 	 
 	 
 
	 	By:  	 
	 	
              

              Name:

            
	 	
              Title:

            
	 	 
	 	
              By: Paul
                Packer

            
	 	
              Title: Managing
                Member

            

    

     

     

    
      
         

      

      
        4Unassociated Document

    EXHIBIT
      10.18

    

     

    _______,
      2008

    China
      Fundamental Acquisition Corporation

    Room
      2301, World-Wide House

    19
      Des
      Voeux Road

    Central,
      Hong Kong

     

    Chardan
      Capital Markets, LLC

    17
      State
      Street, Suite 1600

    New
      York,
      New York 10019

     

    Re:
      Initial Public Offering

     

    Gentlemen:

     

    The
      undersigned, a shareholder and purchaser of warrants exercisable for Ordinary
      Shares of China Fundamental Acquisition Corporation (the “Company”), in
      consideration of Chardan Capital Markets, LLC (“Chardan”) entering into a letter
      of intent, dated December 20, 2007 (“Letter of Intent”), to underwrite an
      initial public offering (“IPO”) of the securities of the Company and embarking
      on, undertaking and continuing to participate in the IPO process, hereby agrees
      as follows (certain capitalized terms used herein are defined in paragraph
      X
      hereof):

     

    I. (1) Except
      with respect to any of the IPO Shares acquired by the undersigned in connection
      with or following the IPO, the undersigned hereby (a) waives any and all right,
      title, interest or claim of any kind (a “Claim”) in or to all funds in the Trust
      Account and any remaining net assets of the Company upon liquidation of the
      Trust Account and dissolution of the Company, (b) waives any Claim the
      undersigned may have in the future as a result of, or arising out of, any
      contracts or agreements with the Company, and (c) agrees that the undersigned
      will not seek recourse against the Trust Account for any reason
      whatsoever.

     

    II. 
      To
      the
      extent that the Underwriters do not exercise their over-allotment option to
      purchase an additional 562,500Units of the Company, the undersigned agrees
      that
      he shall return to the Company for cancellation, at no cost, the number of
      Insider Shares he holds, determined by multiplying 880 shares by a fraction,
      (i)
      the numerator of which is 562,500 minus the number of Ordinary Shares purchased
      by the Underwriters upon the exercise of their over-allotment option, and (ii)
      the denominator of which is 562,500.

     

    III. 
      Neither
      the undersigned, nor any Affiliate of the undersigned will be entitled to
      receive or accept a finder’s fee or any other compensation in the event the
      undersigned or any Affiliate originates a Business Combination.

     

    (1) The
      undersigned represents and warrants that:

     

    (a) No
      petition under the Federal bankruptcy laws or any state insolvency law has
      been
      filed by or against, or a receiver, fiscal agent or similar officer was
      appointed by a court for the business or property of the undersigned, or any
      partnership in which the undersigned was or is a general partner at or within
      two years prior to the date hereof, or any corporation or business association
      of which the undersigned was an executive officer at or within two years prior
      to the date hereof;

     

    
      
         

      

      
        1

        
          

        

      

      
         

      

    

     

    (b) The
      undersigned has not been convicted in any criminal proceeding nor is the
      undersigned currently a named subject of a pending criminal proceeding
      (excluding traffic violations and other minor offenses);

     

    (c) The
      undersigned has not been the subject of any order, judgment, or decree, not
      subsequently reversed, suspended or vacated, of any court of competent
      jurisdiction, permanently or temporarily enjoining the undersigned from, or
      otherwise limiting, the following activities:

     

    (i) Acting
      as
      a futures commission merchant, introducing broker, commodity trading advisor,
      commodity pool operator, floor broker, leverage transaction merchant, any other
      person regulated by the Commodity Futures Trading Commission, or an associated
      person of any of the foregoing, or as an investment adviser, underwriter, broker
      or dealer in securities, or as an affiliated person, director or employee of
      any
      investment company, bank, savings and loan association or insurance company,
      or
      engaging in or continuing any conduct or practice in connection with such
      activity; or

     

    (ii) Engaging
      in any activity in connection with the purchase or sale of any security or
      commodity or in connection with any violation of Federal or State securities
      laws or Federal commodities laws.

     

    IV.  The
      undersigned has full right and power, without violating any agreement by which
      he is bound, to enter into this letter agreement and to serve as an advisor
      of
      the Company.

     

    V.  The
      undersigned acknowledges and understands that Chardan and the Company will
      rely
      upon the agreements, representations and warranties set forth herein in
      proceeding with the IPO.

    

    VI.  The
      undersigned authorizes any employer, financial institution, or consumer credit
      reporting agency to release to Chardan and the Company and their respective
      legal representatives or agents (including any investigative search firm
      retained by Chardan or the Company) any information they may have about the
      undersigned’s background and finances (the “Information”). Neither Chardan nor
      the Company nor their respective agents shall be violating the undersigned’s
      right of privacy in any manner in requesting and obtaining the Information
      and
      the undersigned hereby releases them from liability for any damage whatsoever
      in
      that connection.

     

    VII.  If
      the
      Company solicits approval of its shareholders of a Business Combination, and/or
      the Extended Period, the undersigned agrees that he will vote all Ordinary
      Shares owned by it prior to the IPO (the “Insider Shares”), if any, in
      accordance with the majority of the votes cast by the holders of the IPO Shares,
      and all Ordinary Shares acquired in or following the IPO in favor of any
      Business Combination and the Extended Period.

     

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

     

    VIII.  The
      undersigned will escrow its Escrow Securities subject to the terms of a
      Securities Escrow Agreement which the Company will enter into with the
      undersigned and an escrow agent acceptable to the Company.

     

    IX.  This
      letter agreement shall be governed by and construed and enforced in accordance
      with the laws of the State of New York, without giving effect to conflicts
      of
      law principles that would result in the application of the substantive laws
      of
      another jurisdiction. The undersigned hereby (i) agrees that any action,
      proceeding or claim against him arising out of or relating in any way to this
      letter agreement (a “Proceeding”) shall be brought and enforced in the federal
      courts of the United States of America for the Southern District of New York,
      and irrevocably submits to the jurisdiction of such courts, which jurisdiction
      shall be exclusive, (ii) waives any objection to the exclusive jurisdiction
      of
      such courts and any objection that such courts represent an inconvenient forum
      and (iii) irrevocably agrees to appoint CT Corporation System as agent for
      the
      service of process in the State of New York to receive, for the undersigned
      and
      on his behalf, service of process in any Proceeding. If for any reason such
      agent is unable to act as such, the undersigned will promptly notify the Company
      and Chardan and appoint a substitute agent acceptable to each of the Company
      and
      Chardan within 30 days and nothing in this letter will affect the right of
      either party to serve process in any other manner permitted by law.

     

    X.  As
      used
      herein, (i) a “Business Combination” shall mean an acquisition by the Company,
      by merger, stock exchange, asset acquisition, reorganization or similar business
      combination, or control through contractual arrangements, of an operating
      business or businesses in the People’s Republic of China; (ii) “Ordinary Share”
shall mean the ordinary share, par value $0.001 per share, of the Company;
      (iii)
“Immediate Family” shall mean, with respect to any person, such person’s spouse,
      children, parents and siblings (including any such relative by adoption or
      marriage); (iv) “Insiders” shall mean all officers, directors and shareholders
      of the Company immediately prior to the IPO; (v) “Insider Shares” shall mean all
      of the Ordinary Shares owned by an Insider prior to the IPO; (vi) “IPO Shares”
shall mean the Ordinary Shares issued in the Company’s IPO; (vii) “Trust
      Account” shall mean the trust account in which most of the proceeds to the
      Company of the IPO will be deposited and held for the benefit of the holders
      of
      the IPO shares, as described in greater detail in the prospectus relating to
      the
      IPO; and (viii) “Extended Period” shall mean the extension, upon shareholder
      approval, of the period of time during which the Company may complete a Business
      Combination from 24 months to 36 months if the Company anticipates that it
      may
      not consummate a Business Combination within 24 months if a letter of intent
      or
      definitive agreement with respect to a business combination has been entered
      into within 18 months.

    

    XI.  This
      letter agreement shall supersede any other letter agreement signed by the
      undersigned with respect to the subject matter hereof.

     

    
      	 	 	 
	 	
              Globis
                Overseas Fund Ltd.

            
	 
 	 
 	 
 
	 	By:  	 
	 	
              

              Name:
                Paul Packer

            
	 	
              Title:
                

            

    

     

    
      
         

      

      
        3

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