Document:

Amendment of Undertaking Agreement

 EXHIBIT 10.1 
 WORLD SHAREHOLD LIMITED 
 (Registration Number. 575688) 
 (Incorporated in the British Virgin Islands) 
 24 October 2008 
  

			
	To:	  	China Holdings Acquisition Corp.
		  	33 Riverside Avenue, 5th Floor
		  	Westport, CT 06880 U.S.A.
		  	Attention: The Board of Directors

 Dear Sirs 
 Amendment to the Deed of Undertaking 
 This Amendment (the “Amendment”), dated as of October 24, 2008, to the Deed of
Undertaking, dated as of July 20, 2008, by and among China Holdings Acquisition Corp., including any assigns or successors-in-interest (the “Offeror”), World Sharehold Limited (the “Selling Shareholder”) and
Messrs. Wang Wei Yao and Shao Jian Jun. 
 RECITALS 
 WHEREAS, paragraph 16 of the Deed of Undertaking permits the parties to amend the Deed of Undertaking by an instrument in writing signed on behalf of each of the parties; and 
 WHEREAS, the parties hereto desire to amend the Deed of Undertaking as provided herein. 
 STATEMENT OF AGREEMENT 
 NOW, THEREFORE, in consideration of the foregoing and the mutual
representations, warranties and undertakings and subject to the conditions herein contained and intending to be legally bound hereby, the parties hereto hereby agree as follows: 
  

	1.	Definitions; References 

  

	1.1	Definitions; References. Unless otherwise specifically defined herein, each capitalized term used but not defined herein shall have the meaning assigned to such term in the
Deed of Undertaking. Each reference to “hereof,” “hereunder,” “hereby,” and “this Deed of Undertaking” shall, from and after the date of this Amendment, refer to the Deed of Undertaking, as amended by this
Amendment. Each reference herein to “the date of this Amendment” shall refer to the date set forth above, and each reference to the “date of this Deed of Undertaking” or similar references in the Deed of Undertaking shall refer
to July 20, 2008. 

  

	2.	Amendment to Deed of Undertaking 

  

	2.1	Amendment to paragraph 1.5.2 to Deed of Undertaking. 

 Paragraph 1.5.2 to the Deed of Undertaking is deleted and replaced with the following: 
 “The Selling Shareholder agrees
that it will deliver the CHAC Note to the Offeror as consideration for the Initial Offeror Shares and the Additional Offeror Shares; provided, however, that the Additional Offeror Shares will only be issued to the Selling Shareholder if the Common
Stock Earnout Targets are satisfied.” 
  

 1 

	2.2	Amendment to paragraph 1.6.6(i) to Deed of Undertaking. 

 Paragraph 1.6.6(i) to the Deed of Undertaking is deleted and replaced with the following: 
 “Subject to the satisfaction
of the Common Stock Earnout Targets and without the payment of any additional consideration, the Selling Shareholder may be entitled to receive Additional Offeror Shares calculated as described in Paragraph V of Appendix 2 hereto.” 

 

	2.3	Addition of paragraph 2.1.11 to Deed of Undertaking. 

 The following shall be added as paragraph 2.1.11: 
 “2.1.11 The Sellers further undertake: 
  

	 	(i)	to take and, to the extent lawfully permissible, cause their representatives to take all reasonable and lawfully permissible steps to encourage and/or to cause Newco to lawfully
declare and pay a cash dividend of USD$0.50 per issued share of Newco (the “Newco Cash Dividend”) to the holders thereof, immediately after the Closing; and 

  

	 	(ii)	to waive their right to receive the Newco Cash Dividend in respect of any shares of Newco held by Sellers, including, but not limited, to the Offeror Shares.”

  

	2.4	Amendment to paragraph 9.5.1 to Deed of Undertaking. 

 The following shall be added as clauses cxviii, cxix, cxx, and cxxi of paragraph 9.5.1: 
 “9.5.1 References in this Deed of Undertaking to: 
  

	 	(cxviii)	“Common Stock Earnout Targets” mean Common Stock Earnout Target I, Common Stock Earnout Target II and Common Stock Earnout Target III. 

  

	 	(cxix)	“Common Stock Earnout Target I” means the closing sale price for the regular Trading Day (without considering after hours or other trading outside regular trading
session hours) of the Common Stock on the applicable Trading Market (or, if no closing price is reported, the last reported sale price during that regular Trading Day) for any 20 days within any 30 day trading period beginning 90 days after the
Closing Date exceeds $12.50 per share. 

  

	 	(cxx)	“Common Stock Earnout Target II” means the closing sale price for the regular Trading Day (without considering after hours or other trading outside regular trading
session hours) of the Common Stock on the applicable Trading Market (or, if no closing price is reported, the last reported sale price during that regular Trading Day) for any 20 days within any 30 day trading period beginning 90 days after the
Closing Date exceeds $13.00 per share. 

  

	 	(cxxi)	“Common Stock Earnout Target III” means the closing sale price for the regular Trading Day (without considering after hours or other trading outside regular trading
session hours) of the Common Stock on the applicable Trading Market (or, if no closing price is reported, the last reported sale price during that regular Trading Day) for any 20 days within any 30 day trading period beginning 90 days after the
Closing Date exceeds $13.50 per share. 

  

 2 

	2.5	Additional Representations and Warranties of the Sellers. 

 The Sellers hereby represent and warrant to the Offeror as follows: 
 The Sellers have the requisite corporate or other power and
authority, and have taken all requisite corporate or other action, to enter into and to consummate the transactions contemplated by this Amendment and otherwise to carry out their Obligations hereunder. The execution and delivery of this Amendment
by the Sellers and the consummation by them of the transactions contemplated hereby have been duly authorized by all necessary action on the part of the Sellers and no further action is required by the Sellers in connection therewith. This Amendment
has been duly executed by the Sellers and, when delivered in accordance with the terms hereof, will constitute the valid and binding obligation of the Sellers enforceable against the Sellers in accordance with its terms, except as limited by
(i) applicable bankruptcy, insolvency, reorganization, moratorium and other laws of general application affecting enforcement of creditors’ rights generally, (ii) laws relating to the availability of specific performance, injunctive
relief or other equitable remedies, and (iii) public policy. 
 For purposes of clarification, these representations and warranties are
subject to paragraph 4 of the Deed of Undertaking. 
  

	2.6	Additional Representations and Warranties of the Offeror. 

 The Offeror hereby represents and warrants to the Selling Shareholder as follows: 
 The Offeror has the requisite corporate power
and authority, and has taken all requisite corporate action, other than as set forth in paragraph 2.3 of the Pre-Conditional Offer Announcement, to enter into and to consummate the transactions contemplated by this Amendment and otherwise to
carry out its Obligations hereunder. The execution and delivery of this Amendment by the Offeror and the consummation by it of the transactions contemplated hereby have been duly authorized by all necessary action on the part of the Offeror and no
further action is required by the Offeror in connection therewith. This Amendment has been duly executed by the Offeror and, when delivered in accordance with the terms hereof, will constitute the valid and binding obligation of the Offeror
enforceable against the Offeror in accordance with its terms, except as limited by (i) applicable bankruptcy, insolvency, reorganization, moratorium and other laws of general application affecting enforcement of creditors’ rights
generally, (ii) laws relating to the availability of specific performance, injunctive relief or other equitable remedies, and (iii) public policy. 
 For purposes of clarification, these representations and warranties are subject to paragraph 4 of the Deed of Undertaking. 
  

	2.7	Release of Further Pre-Conditional Offer Announcement. 

 Immediately after this Amendment is executed, the Offeror shall release the announcement attached as Appendix 1 to this Amendment (the “Further Pre-Conditional Offer Announcement”). 
  

	2.8	Amendment to Appendix 2 to the Deed of Undertaking. 

 Appendix 2 to the Deed of Undertaking is deleted and replaced with Appendix 2 attached hereto. 
  

	2.9	Amendment to Schedule 2 to the Deed of Undertaking. 

 Schedule 2 to the Deed of Undertaking is deleted and replaced with Appendix 3 attached hereto. 
  

 3 

	2.10	Amendment to Schedule 3 to the Deed of Undertaking. 

 Schedule 3 to the Deed of Undertaking is deleted and replaced with Appendix 4 attached hereto. 
  

	3.	Miscellaneous 

  

	3.1	No Further Amendment. 

 Except as expressly amended
hereby, the Deed of Undertaking is in all respects ratified and confirmed and all of the terms and conditions and provisions thereof shall remain in full force and effect. This Amendment is limited precisely as written and shall not be deemed to be
an amendment to any other term or condition of the Deed of Undertaking or any of the documents referred to therein. 
  

	3.2	Effect of Amendment. 

 This Amendment shall form a
part of the Deed of Undertaking for all purposes, and each party thereto and hereto shall be bound hereby. From and after the execution of this Amendment by the parties hereto, any reference to “this Deed of Undertaking,”
“hereof”, “herein”, “hereunder” and words or expressions of similar import shall be deemed a reference to the Deed of Undertaking as amended hereby. 
  

	3.3	Governing Law. 

 All questions concerning the
construction, validity, enforcement and interpretation of this Amendment shall be governed by and construed and enforced in accordance with the internal laws of the State of Delaware (U.S.A.), without regard to principles of conflicts of law
thereof. 
  

	3.4	Language 

 This Amendment has been prepared in both
English and Chinese. However, the parties hereby agree that only the English version will be executed and, for the avoidance of doubt, the English version shall prevail under all circumstances. The Chinese version of this Amendment is solely a
reference for the Selling Shareholder. 
  

	3.5	Execution 

 This Amendment may be executed in two or
more counterparts, all of which when taken together shall be considered one and the same agreement and shall become effective when counterparts have been signed by each party and delivered to the other parties, it being understood that the parties
need not sign the same counterpart. In the event that any signature is delivered by facsimile transmission, such signature shall create a valid and binding obligation of the party executing (or on whose behalf such signature is executed) with the
same force and effect as if such facsimile signature page were an original thereof. 
 (Signature Page Follows) 
  

 4 

 In witness whereof we have caused this Amendment to the Deed of Undertaking to be executed as a deed on the day and year
first above written. 
  

	
	The Common Seal of
	
	 World Sharehold Limited

	
	was hereunto affixed in the presence of:
	
	 /s/ Wang Wei Yao

	Director
	
	 /s/ Shao Jian Jun

	Director/Secretary
	
	 /s/ Wang Wei Yao

	Wang Wei Yao
	
	 /s/ Shao Jian Jun

	Shao Jian Jun

	
	AGREED AND ACCEPTED BY:
	
	China Holdings Acquisition Corp.
	
	 /s/ Paul K. Kelly

	Paul K. Kelly
	Chairman and Chief Executive Officer

 Signature Page to Amendment to the Deed of Undertaking 

 Appendix 1 
 Pre-Conditional Voluntary Cash Offer 
 by 
 CIMB-GK Securities Pte. Ltd. 
 (Company Registration No. 198701621D)

 (Incorporated in the Republic of Singapore) 
 for and on behalf of 
 China Holdings Acquisition Corp. 
 (Incorporated in the state of Delaware, the United States of America) 
 to acquire all the issued and paid-up ordinary shares 
 in the capital of 
 Bright World Precision Machinery Limited 
 (Company Registration No. 200409453N) 
 (Incorporated in the Republic of Singapore) 
  

	1.	Introduction 

  

	1.1	CIMB-GK Securities Pte. Ltd. (“CIMB-GK”) refers to the announcement dated 21 July 2008 (the “Pre-Conditional Offer Announcement”) made
by CIMB-GK, for and on behalf of China Holdings Acquisition Corp. (“CHAC”), including any assigns or successors-in-interest (the “Offeror”), in connection with the Offeror’s intention, subject to the
fulfillment of the Pre-Conditions, to make a voluntary conditional cash offer (the “Offer”) for all the issued and paid-up ordinary shares (the “Shares”) in the capital of Bright World Precision Machinery Limited
(the “Company”). 

  

	1.2	Terms defined in the Pre-Conditional Offer Announcement shall have the same meanings when used in this Announcement, unless otherwise defined. 

  

	1.3	Copies of the Pre-Conditional Offer Announcement are available on the website of the Singapore Exchange Securities Trading Limited at www.sgx.com. 

 

	1.4	The Offer will not be made unless and until the Pre-Conditions are satisfied, no later than the date falling nine months after the date of the Deed of Undertaking (the
“9-month date”); provided, however, that if the United States Securities and Exchange Commission has not declared the Offeror’s Form F-4 Registration Statement (as defined in the Deed of Undertaking) effective by
the 9-month date, the period will automatically be extended to one (1) year from the date of the Deed of Undertaking (the “12-month date”). Accordingly, all references to the Offer in this Announcement refer to the possible
Offer which will only be made if and when the Pre-Conditions are satisfied, no later than the 9-month date or 12-month date, as applicable. 

  

	2.	Amendment to the Deed of Undertaking 

  

	2.1	The Offeror has today entered into a deed amending the Deed of Undertaking (the “Amendment Deed”) with World Sharehold Limited (the “Selling
Shareholder”) and its shareholders, namely, Mr. Wang Wei Yao and Mr. Shao Jian Jun (collectively, the Selling Shareholder, Mr. Wang Wei Yao and Mr. Shao Jian Jun shall be referred to as the “Sellers”) to
amend the terms of the Selling Shareholder’s investment in CHAC Shares and the Selling Shareholder’s entitlement to receive additional new CHAC Shares as set out in paragraph 5.1 of the Pre-Conditional Offer Announcement.

	2.2	Pursuant to the terms of the Amendment Deed, the Deed of Undertaking has been amended such that: 

  

	 	2.2.1	the Sellers undertake to: 

  

	 	(i)	take, and to the extent lawfully permissible, cause their representatives to take all reasonable and lawfully permissible steps to encourage and/or to cause Newco to lawfully
declare and pay a cash dividend of USD$0.50 per issued share of Newco (the “Newco Cash Dividend”) to the holders thereof, immediately after the Closing; and 

  

	 	(ii)	waive their right to receive the Newco Cash Dividend in respect of any shares of Newco held by the Sellers, including, but not limited to, the new CHAC Shares;

  

	 	2.2.2	the Selling Shareholder’s investment in CHAC Shares and the Selling Shareholder’s entitlement to receive additional new CHAC Shares as set out in paragraph 5.1 of
the Pre-Conditional Offer Announcement shall be amended and replaced with the following arrangement: 

  

	 	(i)	At Closing, the Offeror will deliver a convertible promissory note (the “CHAC Note”) to the Selling Shareholder as payment for the aggregate Offer Price (defined
below) due for the Shares tendered by the Selling Shareholder. 

  

	 	(ii)	Immediately after Closing, the Offeror will issue and sell to the Selling Shareholder, and the Selling Shareholder will purchase from the Offeror, the initial new CHAC Shares by
delivering the CHAC Note to the Offeror as payment therefore. 

  

	 	(iii)	Under the CHAC Note, the Offeror will issue to the Selling Shareholder a minimum of 19,900,000 initial new CHAC Shares, amounting to approximately 54 per cent. of the enlarged
issued share capital of the Offeror (assuming there are no redemptions of CHAC Shares and the equity equivalent value of all its outstanding warrants is determined by the Treasury Stock Method). 

  

	 	(iv)	Under the CHAC Note, the Selling Shareholder will also be eligible to receive, without any additional consideration being due therefore, up to a maximum of 15,765,000 additional new
CHAC Shares consisting of: 

  

	 	(a)	3,500,000 additional new CHAC Shares to be issued to the Selling Shareholder upon satisfaction of Common Stock Earnout Target I; 

  

	 	(b)	3,500,000 additional new CHAC Shares to be issued to the Selling Shareholder upon satisfaction of Common Stock Earnout Target II; and 

  

	 	(c)	up to 8,765,000 additional new CHAC Shares to be issued to the Selling Shareholder upon satisfaction of Common Stock Earnout Target III, 

 provided that the number of CHAC Shares to be issued to the Selling Shareholder upon satisfaction of Common Stock Earnout Target III and
the maximum award will each be reduced, share-for-share, by the number of initial new CHAC Shares in excess of 19,900,000. 
  

 2 

 “Common Stock Earnout Target I” means the closing sale price for the regular Trading
Day (as defined in the Deed of Undertaking) (without considering after hours or other trading outside regular trading session hours) of the Common Stock on the applicable Trading Market (as defined in the Deed of Undertaking) (or, if no closing
price is reported, the last reported sale price during that regular Trading Day) for any 20 days within any 30 day trading period beginning 90 days after the Closing Date (as defined in the Deed of Undertaking) exceeds US$12.50 per share.

 “Common Stock Earnout Target II” means the closing sale price for the regular Trading Day (without considering after
hours or other trading outside regular trading session hours) of the Common Stock on the applicable Trading Market (or, if no closing price is reported, the last reported sale price during that regular Trading Day) for any 20 days within any 30 day
trading period beginning 90 days after the Closing Date exceeds US$13.00 per share. 
 “Common Stock Earnout Target III”
means the closing sale price for the regular Trading Day (without considering after hours or other trading outside regular trading session hours) of the Common Stock on the applicable Trading Market (or, if no closing price is reported, the last
reported sale price during that regular Trading Day) for any 20 days within any 30 day trading period beginning 90 days after the Closing Date exceeds US$13.50 per share. 
  

	 	(v)	The total number of new CHAC Shares to be issued to the Selling Shareholder under the CHAC Note shall not exceed 35,665,000 new CHAC Shares, amounting to approximately 60 per
cent. of the enlarged issued share capital of the Offeror (assuming there are no redemptions of CHAC Shares and the equity equivalent value of all its outstanding warrants is determined by the Treasury Stock Method), in one or more issuances. The
initial new CHAC Shares will be issued to the Selling Shareholder at US$8 for each CHAC Share. Upon satisfaction of each relevant Common Stock Earnout Target, the additional new CHAC Shares will be issued to the Selling Shareholder at no cost.

  

	2.3	Certain founders of CHAC (“Founders”) have entered into an agreement (the “Founders’ Agreement”), pursuant to which, each Founder
agreed that, subject to the consummation of the Merger, the shares of common stock in CHAC beneficially owned by such Founders will be converted into warrants (the “New Founder Warrants”) to purchase an equal number of shares of
Newco. Each Founder Warrant will be immediately exercisable when the closing sale price of Newco’s shares exceeds US$13.50 per share for any 20 days within any 30 day trading period beginning 90 days after the Closing Date.

  

	2.4	Further information on the above amendments can be found in documents filed by the Offeror with the SEC which are available from the SEC’s website at http://www.sec.gov.
A copy of the Form 8-K filed by the Offeror in connection with the above is enclosed together with this Announcement. 

  

	3.	No Change to Offer Terms 

 Save as set out in
paragraph 2 above, all other terms and conditions of the Offer as set out in the Pre-Conditional Offer Announcement remain unchanged. 
  

 3 

 In particular, the terms of paragraph 2.1 of the Pre-Conditional Offer Announcement remain unchanged and
are reproduced below: 
  

	 	“2.1	Terms 

 Subject to the satisfaction of the
Pre-Conditions, the Offer will be made by the Offeror on the following basis: 
  

	 	2.1.1	the Offer will be made for all the Shares (the “Offer Shares”), in accordance with Section 139 of the Securities and Futures Act, Chapter 289 of
Singapore and the Singapore Code on Take-overs and Mergers and subject to the terms and conditions set out in the formal document in relation to the Offer to be issued by CIMB-GK, for and on behalf of the Offeror (the “Offer
Document”); 

  

	 	2.1.2	the Offer, when made, will be on the following basis: 

  

	 	(i)	in the event that the Offeror receives acceptances in respect of the Offer Shares which, when aggregated with the Shares held by the Offeror are less than 90 per cent. of the
issued share capital of the Company: 

 For each Offer Share: S$0.70; or 
  

	 	(ii)	in the event that the Offeror receives acceptances in respect of the Offer Shares which, when aggregated with the Shares held by the Offeror are equal to or exceed 90 per cent.
of the issued share capital of the Company: 

 For each Offer Share: S$0.75; 
 (as applicable, the “Offer Price”); and 
  

	 	2.1.3	the Offer Shares will be acquired (i) fully paid, (ii) free from all liens, equities, charges, encumbrances, rights of pre-emption and any other third party rights
or interests of any nature whatsoever and (iii) together with all rights, benefits and entitlements attached thereto as at the date of this Pre-Conditional Offer Announcement (the “Pre-Conditional Offer Announcement Date”) and
hereafter attaching thereto, including all voting rights, the right to receive and retain all dividends, rights and other distributions (if any) which may be announced, declared, paid or made by the Company on or after the Pre-Conditional Offer
Announcement Date.” 

  

	4.	Responsibility Statement 

 The directors of the
Offeror (including any who may have delegated detailed supervision of this Announcement) have taken all reasonable care to ensure that the facts stated and all opinions expressed in this Announcement are fair and accurate and that no material facts
have been omitted from this Announcement, and they jointly and severally accept responsibility accordingly. Where any information has been extracted or reproduced from published or otherwise publicly available sources (including, without limitation,
in relation to the Company) or obtained from the Sellers or CIMB-GK, the sole responsibility of the directors of the Offeror has been to ensure through reasonable enquires that such information is accurately extracted from such sources or, as the
case may be, reflected or reproduced in this Announcement. 
  

 4 

 Issued by 
 CIMB-GK
Securities Pte. Ltd. 
 For and on behalf of 
 China
Holdings Acquisition Corp. 
 [—] 2008 
 Singapore 
 Any enquiries relating to this Announcement or the Offer should be directed to one of the following individuals:

  

					
	Mah Kah Loon	 	Jason Chian	 	
	Head, Corporate Finance	 	Director, Corporate Finance	 	
	CIMB-GK Securities Pte. Ltd.	 	CIMB-GK Securities Pte. Ltd.	 	
	 Tel. +65 6210 8889
	 	 Tel. +65 6210 8878
	 	

  

 Appendix 2 
 Offeror Shares 
 Capitalized terms used herein but not defined shall have the meanings assigned thereto in the Deed
of Undertaking. 
 I. Maximum Number of Offeror Shares: 35,665,000, consisting of Initial Offeror Shares and Additional Offeror Shares. The
Selling Shareholder will receive the maximum number of Offeror Shares if all three (3) Common Stock Earnout Targets are met. 
 II. Minimum Number
of Offeror Shares: 19,900,000, consisting solely of Initial Offeror Shares. 
 III. Number of Initial Offeror Shares and Additional Offeror
Shares: The number of Initial Offeror Shares and Additional Offeror Shares will vary depending upon the cash offer price per issued share of the Company (“Company Share”) offered to the Public Shareholders. The higher the cash
offer price per Company Share, the more Initial Offeror Shares the Selling Shareholder shall be entitled to receive upon exchange of the CHAC Note. The maximum number of Initial Offeror Shares is 23,665,000. 
 IV. Calculation of Initial Offeror Shares: The number of Initial Offeror Shares shall be calculated as follows: 
 Step 1: Number of Shares held by the Selling Shareholder multiplied by cash offer price per Company Share (in Singapore Dollars) (“BWPM SGD
Consideration”); 
 Step 2: BWPM SGD Consideration multiplied by the Average Exchange Rate (“BWPM USD
Consideration”); and 
 Step 3: BWPM USD Consideration divided by Per Offeror Share Purchase Price, and rounded down to the
nearest one Share. 
 For example, assuming (a) the Selling Shareholder holds 309,697,000 Shares, (b) a S$0.75 cash offer price per Company Share,
(c) an Average Exchange Rate of 0.73524 and (d) a USD$8.00 Per Offeror Share Purchase Price, the number of Initial Offeror Shares to be issued to the Selling Shareholder at Closing is 21,347,027. 
 V. Calculation of Additional Offeror Shares: The Company shall issue, without any consideration being due therefor, up to a maximum of 15,765,000
Additional Offeror Shares to Selling Shareholder upon satisfaction of the Common Stock Earnout Targets, as described below: 
 A. Upon
satisfaction of Common Stock Earnout Target I, 3,500,000 Additional Offeror Shares; 
 B. Upon satisfaction of Common Stock Earnout Target
II, 3,500,000 Additional Offeror Shares; and 
 C. Upon satisfaction of Common Stock Earnout Target III, up to 8,765,000 Additional Offeror
Shares, which shall be calculated as follows: 8,765,000 minus the number of Initial Offeror Shares in excess of 19,900,000. 
  

 1 

 Appendix 3 
 CHAC Note 
 NEITHER THIS CONVERTIBLE PROMISSORY NOTE NOR THE SECURITIES TO BE ISSUED UPON ITS CONVERSION HAVE BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), AND MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED UNLESS PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE ACT OR IN
COMPLIANCE WITH AN EXEMPTION THEREFROM AND ACCOMPANIED WITH AN OPINION OF COUNSEL IN A FORM REASONABLY SATISFACTORY TO NEWCO THAT SUCH TRANSFER IS IN COMPLIANCE WITH AN EXEMPTION THEREFROM. 
 CONVERTIBLE PROMISSORY NOTE 
  

			
	 USD$            
	  	                    , 200  

 Subject to the terms and conditions of this Convertible Promissory Note (this “Note”), for value
received, [INSERT NAME OF BVI NEWCO], a company formed under the laws of the British Virgin Islands (“Newco”), promises to pay to World Sharehold Limited, a company formed under the laws of the British Virgin Islands (the
“Holder”), the principal sum of [                            ] United States Dollars
(USD$                    ). The Note and the Initial Offeror Shares issuable upon conversion of the Note and the Additional Offeror Shares
issuable upon satisfaction of the Common Stock Earnout Targets pursuant to Section 2 hereof, are collectively referred to herein as the “Securities.” Capitalized terms used herein but not defined herein shall have the
meanings assigned thereto in that certain Deed of Undertaking, dated July 20, 2008 (the “Deed of Undertaking”), between China Holdings Acquisition Inc., the predecessor to Newco, on the one hand, and Holder, Mr. Wang Wei
Yao and Mr. Shao Jian Jun, on the other hand, as amended by the Amendment to the Deed of Undertaking dated                     .

 1. Maturity. Unless converted as provided in Section 2, the principal amount of this Note shall be due and payable upon
the written demand of the Holder (a “Holder Demand”) at any time after [INSERT DATE OF NOTE] (the “Maturity Date”). 
 2. Conversion. 
 (a) Investment by the Holder. Immediately after the closing of
the Offer and with no further action being taken, nor any approval being required, the principal amount of this Note shall be automatically converted into such number of Initial Offeror Shares calculated as described in Annex 2 to the Deed of
Undertaking. Furthermore, subject to the satisfaction of the Common Stock Earnout Targets and without the payment of any consideration other than the principal amount of this Note converted in accordance with the terms hereof, the Holder will have
the right to receive the Additional Offeror Shares described in Annex 2 to the Deed of Undertaking. 
 (b) Mechanics and Effect of
Conversion. Concurrent with the conversion of this Note pursuant to this Section 2, the Holder shall surrender this Note, duly endorsed, to Newco. At its expense, Newco will, immediately thereafter, issue and deliver to such
Holder, at such Holder’s principal office, a certificate or certificates for the number of Initial Offeror Shares to which such Holder is entitled upon such conversion. Upon conversion of this Note pursuant to this Section 2, Newco will be
forever released from all of its obligations and liabilities under this Note, other than Newco’s obligation to issue to Holder the Additional Offeror Shares upon satisfaction of the Common Stock Earnout Targets. 
 3. Cancellation. After the principal owed on this Note has been paid in full, this Note will be surrendered to Newco for cancellation and
will not be reissued. 
 4. Transfer; Successors and Assigns. This Note may not be transferred by either of the parties hereto.

  

 1 

 5. Governing Law. This Note and all acts and transactions pursuant hereto and the rights
and obligations of the parties hereto shall be governed, construed and interpreted in accordance with the laws of the State of Delaware, without giving effect to principles of conflicts of law. 
 6. Amendments and Waivers. Any term of this Note may be amended or waived only with the written consent of Newco and the Holder.

 7. Delays or Omissions. No delay or omission to exercise any right, power or remedy accruing to the Holder upon a breach or
default by Newco under this Note shall impair any such right, power or remedy of the Holder, nor shall it be construed to be a waiver of any such breach or default, or an acquiescence therein, or of any similar breach or default thereafter
occurring. Any waiver, permit, consent or approval of any kind or character on the part of the Holder of a breach or default under this Note, or any waiver on the part of the Holder of any provisions or conditions of this Note, must be in writing
and shall be effective only to the extent specifically set forth in such writing. All remedies, under this Note, the Deed of Undertaking, or by law or otherwise afforded to the Holder, shall be cumulative and not alternative. 
 8. Severability. If any term or provision of this Note is determined to be illegal, unenforceable or invalid in whole or in part for any
reason, such illegal, unenforceable or invalid provisions or party thereof shall be stricken from this Note, and such provision shall not affect the legality, enforceability or validity of the remainder of this Note. If any provision or part thereof
of this Note is stricken in accordance with the provisions of this Section 8, then such stricken provision shall be replaced, to extent possible, with a legal, enforceable and valid provision that is as similar in tenor to the stricken
provision as is legally possible. 
 9. Counterparts. This Note may be executed in two or more counterparts, each of which
shall be deemed to be an original and all of which together will constitute one instrument. 
 [Signature to Follow] 
  

 2 

	
	 The Common Seal of

	
	 World Sharehold Limited
  
 was hereunto affixed in the presence of:

	
	  

	 Director

	
	  

	 Director/Secretary

	
	 The Common Seal of

	
	 [INSERT NAME OF BVI NEWCO]
  
 was hereunto affixed in the presence of:

	
	  

	 Director

	
	  

	 Director/Secretary

 Appendix 4 
 Legal Opinion 
 HARNEYS 
 British Virgin Islands lawyers 
  

					
	 	 	 	  	Harney Westwood & Riegels
		 		  	Craigmuir Chambers
		 		  	PO Box 71, Road Town
		 		  	Tortola VG1110, British Virgin Islands
		 		  	Tel: +1 284 494 2233
		 		  	Fax: +1 284 494 3547
		 		  	www.harneys.com
			
		 		  	Your Ref
			
		 		  	Our Ref
			
	 BY
	 		  	Doc ID        1783405_2

 Dear Sirs 
 [    ] as the survivor to the merger of [NewCo] and China Holdings Acquisition Corp. Company No. [    ] (the “Company”) 
  

	1.	We are lawyers qualified to practise in the British Virgin Islands and have been asked to advise in connection with: 

  

	 	(i)	a deed of undertaking dated [—] 2008 (the “Deed”) made by World Sharehold Limited (the “Selling Shareholder”),
Wang Wei Yao and Shao Jian Jun, on the one hand (collectively, the “Sellers”), and China Holdings Acquisition Corp. (“CHAC”), on the other hand, pursuant to which CHAC agreed to make an offer to acquire all the
issued shares in Bright World Machinery Limited (“Bright World”), and Selling Shareholder agreed to accept the offer in respect of all issued shares of Bright World held by the Selling Shareholder, payment for which was made inter
alia by the issue by CHAC to the Selling Shareholder of a convertible promissory note; 

  

	 	(ii)	an amendment to the Deed dated [—] 2008 made by the Sellers and CHAC, pursuant to which certain amendments were made to the Deed among them, the
revision of the terms under which up to a maximum of 15,765,000 shares in the Company (the “Additional Shares”) would be issued to the Selling Shareholder (the “Amendment to Deed”; and 

  

	 	(iii)	a convertible promissory note dated [    ] (the “Note”) issued by the Company in its capacity as the survivor to the merger of CHAC and [NewCo]
in favour of the Selling Shareholder and convertible into up to 23,665,000 initial shares of the Company (the “Initial Offeror Shares”), provided, however, that the total number of shares of the Company to be issued in accordance
with the terms of the Note will not exceed 35,665,000, 

 (the Deed, Amendment to the Deed and the Note are together referred to
as the “Documents”). 
  

 1 

 This opinion is given pursuant to clause 1.6.2(ii) of the Deed. Capitalised terms defined in the Deed, as
amended by the Amendment to the Deed, have the same meaning in this opinion unless otherwise defined in this opinion. 
  

	2.	For the purpose of this opinion, we have examined the following documents and records: 

  

	 	(a)	A copy of the executed Documents; 

  

	 	(b)	a copy of the Memorandum and Articles of Association and Certificate of Incorporation of the Company and the articles of merger with the plan of merger annexed obtained from the
British Virgin Islands Registry of Corporate Affairs on [—]; 

  

					
	 (c)
	  	(i)	  	a copy of the [unanimous written resolutions]/[minutes of a meeting of the directors of the Company containing unanimous resolutions] of the directors of the Company dated [—] approving the Company’s merger with China Holdings Acquisition Corp. and its entry into and execution of the plan of merger and articles of merger;
			
		  	(ii)	  	a copy of the [unanimous written resolutions]/[minutes of a meeting of the directors of the Company containing unanimous resolutions] of the directors of the Company dated [—] approving the Company’s entry into and execution of the Note and the issue of the Initial Offer Shares and the Additional Shares
		
		  	 (the “Board Resolutions”);

  

	 	(d)	a copy of the [unanimous written resolutions]/[minutes of a meeting of the shareholders of the Company containing unanimous resolutions] of the shareholders of the Company dated
[—] approving the Company’s merger with China Holdings Acquisition Corp. and its entry into and execution of the plan of merger and articles of merger (the “Shareholders Resolutions”);

  

	 	(e)	a copy of a certificate issued by a director of the Company dated [                ] 2008 (the
“Director’s Certificate”); and 

  

	 	(f)	information revealed by our searches of: 

  

	 	(i)	the records and information certified by [—], the registered agent of the Company, on [—] of the statutory
documents and records maintained by the Company at its registered office; 

  

	 	(ii)	the public records of the Company on file and available for inspection at the Registry of Corporate Affairs, Road Town, Tortola, British Virgin Islands on [—]; and 

  

	 	(iii)	the records of proceedings on file with, and available for inspection on [—] at the High Court of Justice, British Virgin Islands,

 (the “Searches”). 
 The above are the only documents or records we have examined and the only enquiries we have carried out. In particular we have made no enquiries as to matters of fact other than the Searches. 
  

 2 

	3.	For the purposes of this opinion we have assumed without further enquiry: 

  

	 	(a)	the authenticity of all documents submitted to us as originals, the conformity with the originals of all documents submitted to us as copies and the authenticity of such originals;

  

	 	(b)	the genuineness of all signatures and seals; 

  

	 	(c)	the accuracy and completeness of all corporate minutes, resolutions, certificates and records which we have seen; 

  

	 	(d)	that the information indicated by the Searches is and remains true and correct; 

  

	 	(e)	the accuracy of any and all representations of fact expressed in or implied by the documents we have examined; 

  

	 	(f)	that the Documents constitute valid, legally binding and enforceable obligations of the Company under the laws of the State of Delaware in the United States of America by which law
they are expressed to be governed; 

  

	 	(g)	that no matters arising under any foreign law will affect the views expressed in this opinion; 

  

	 	(h)	that no director of the Company has a financial interest in or other relationship to a party to the transaction contemplated by the Documents except as expressly disclosed in the
Board Resolutions; 

  

	 	(i)	that the Board Resolutions and the Shareholders Resolutions remain in full force and effect; and 

  

	 	(j)	that no resolution of the members of the Company has been passed limiting the powers of the directors. 

  

	4.	Based on the foregoing, and subject to the qualifications expressed below, our opinion is as follows: 

  

	 	(a)	Existence and Good Standing. The Company is a company duly registered with limited liability for an unlimited duration under the BVI Business Companies Act (No 16 of 2004),
and is validly existing and in good standing under the laws of the British Virgin Islands. It is a separate legal entity and is subject to suit in its own name. 

  

	 	(b)	Merger. The merger of the Company with China Holdings Acquisition Corp. was duly authorised by the Company and is valid and effective under British Virgin Islands law.

  

	 	(c)	Capacity and Power. The Company has full capacity to execute the Note and to perform its obligations under the Documents and the Company has taken all necessary action to
execute the Note and to authorise its exercise of its rights and the performance of its obligations under the Documents. 

  

	 	(d)	Due Execution. The Documents have been duly executed for and on behalf of the Company. 

  

	 	(e)	Valid and Binding. The Documents will be treated by the courts of the British Virgin Islands as the legally binding, valid and enforceable obligations of the Company.

  

	 	(f)	Consents. No consents or authorisations of any government or official authorities of or in the British Virgin Islands are necessary for the grant and execution of the Note by
the Company the performance by the Company of its obligations and the exercise of its rights pursuant to the Documents and the issue of the Initial Offer Shares or the Additional Shares. 

  

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	 	(g)	Non-conflict. The performance by the Company of its obligations and the exercise of any of its rights pursuant to the Documents do not and will not conflict with:

  

	 	(i)	any law or regulation of the British Virgin Islands; or 

  

	 	(ii)	the Memorandum and Articles of Association of the Company. 

  

	 	(h)	Stamp Duty. No stamp duties or similar documentary taxes imposed by or in the British Virgin Islands are payable in respect of the Documents or the issue of the Initial Offer
Shares or the Additional Shares. 

  

	 	(i)	Initial Offer Shares. The Initial Offer Shares, when issued against payment therefor in accordance with the provisions of the Documents will be duly and validly issued fully
paid and non-assessable and, to our knowledge, on the basis of the Director’s Certificate, free and clear of all liens, charges, restrictions and encumbrances imposed by or through the Company except as set forth in the Documents.

  

	 	(j)	Additional Shares. The Additional Shares, when issued in exchange for the consideration set forth in the Documents and upon satisfaction of the Common Stock Earnout Targets,
will be duly and validly issued fully paid and non-assessable and, to our knowledge, on the basis of the Director’s Certificate, free and clear of all liens, charges, restrictions and encumbrances imposed by or through the Company except as set
forth in the Documents. 

  

	 	(k)	Cash Dividend. For so long as the directors of the Company are satisfied, on reasonable grounds, that, immediately after the dividend distribution, the value of the
Company’s assets will exceed its liabilities and the Company will be able to pay its debts as they fall due (in accordance with Article 18 of the Company’s Articles of Association), the declaration of a cash dividend as set out in
paragraph 2.1.11 of the Deed does not conflict with any law or regulation of the British Virgin Islands. 

  

	5.	This opinion is confined to the matters expressly opined on herein and given on the basis of the laws of the British Virgin Islands as they are in force and applied by the British
Virgin Islands courts at the date of this opinion. We have made no investigation of, and express no opinion on, the laws of any other jurisdiction. We express no opinion as to matters of fact. Except as specifically stated herein, we make no comment
with respect to any representations and warranties which may be made by or with respect to the Company in the Documents. We express no opinion with respect to the commercial terms of the transactions the subject of this opinion.

  

	6.	The opinions set out above are subject to the following qualifications: 

  

	 	(a)	The term “enforceable” as used above means that the obligations assumed by the Company under the relevant instrument are of a type which the courts of the British Virgin
Islands enforce. It does not mean that those obligations will necessarily be enforced in all circumstances in accordance with their terms. In particular: 

  

	 	(i)	rights and obligations may be limited by bankruptcy, insolvency, liquidation, arrangement and other similar laws of the British Virgin Islands of general application affecting the
rights of creditors; 

  

 4 

	 	(ii)	claims under the Documents may become barred under the laws relating to limitation of actions in the British Virgin Islands or may be or become subject to defences of set-off or
counterclaim; 

  

	 	(iii)	equitable remedies such as injunctions and orders for specific performance are discretionary and will not normally be available where damages are considered an adequate remedy and
equitable rights may be defeated by a bona fide purchaser for value without notice; 

  

	 	(iv)	where obligations are to be performed in a jurisdiction outside the British Virgin Islands they may not be enforceable under the laws of the British Virgin Islands to the extent
that such performance would be contrary to the laws of that jurisdiction or contrary to mandatory laws or public policy of that jurisdiction; 

  

	 	(v)	strict legal rights may be qualified by doctrines of good faith and fair dealing—for example a certificate or calculation as to any matter might be held by a British Virgin
Islands court not to be conclusive if it could be shown to have an unreasonable or arbitrary basis, or in the event of manifest error; 

  

	 	(vi)	enforcement may be prevented by reason of fraud, misrepresentation, public policy or mistake or limited by the doctrine of frustration of contracts; 

  

	 	(vii)	provisions, for example, for the payment of additional interest in certain circumstances, may be unenforceable to the extent a court of the British Virgin Islands determines such a
provision to be a penalty; and 

  

	 	(viii)	enforcement may be limited by the principle of forum non conveniens or analogous principles. 

  

	 	(b)	The courts in the British Virgin Islands will determine in their discretion whether or not an illegal or unenforceable provision may be severed. 

  

	 	(c)	The courts of the British Virgin Islands may refuse to give effect to a provision in respect of the cost of unsuccessful litigation brought before those courts or where the courts
themselves have made an order for costs. 

  

	 	(d)	In certain circumstances provisions in the Documents that (i) the election of a particular remedy does not preclude recourse to one or more others, or (ii) delay or
failure to exercise a right or remedy will not operate as a waiver of any such right or remedy, may not be enforceable. 

  

	 	(e)	We express no opinion in relation to provisions making reference to foreign statutes in the Documents. 

  

	7.	This opinion is rendered for the benefit of [—] [who are original parties to the Documents] and the benefit of their legal counsel (in that
capacity only) in connection with the transactions contemplated by the Documents only. [It may be disclosed to the successors and assigns of [—] only with our prior written consent.] It may not be disclosed to or
relied on by any other party or for any other purpose. 

 Yours faithfully 
 HARNEY WESTWOOD & RIEGELS 
  

 5Founders' Agreement

 Exhibit 10.2 
 October 24, 2008 
 China Holdings Acquisition Corp. 
 33 Riverside Avenue, 5th Floor 
 Westport, CT 06880 U.S.A. 
 Attention: The Board of Directors 
  

	 	Re:	Exchange of Founder Shares 

 Gentlemen: 
 RECITALS 
 WHEREAS, China
Holdings Acquisition Corp., including any assigns or successors-in-interest (the “Company”), World Sharehold Limited (the “Selling Shareholder”) and Messrs. Wang Wei Yao and Shao Jian Jun, the parties to the Deed of
Undertaking, dated as of July 20, 2008 (the “Deed”), desire that the shareholders of the Company vote to approve the transactions contemplated by the Deed; 
 WHEREAS, in furtherance thereof, the parties to the Deed have agreed to amend the Deed to (A) modify the triggers for the issuance to the
Selling Shareholder of up to 15,765,000 additional new shares by replacing the financial performance targets (based on the performance of Bright World Precision Machinery Limited (“Bright World”) and its subsidiaries for fiscal year
2008) with stock price targets, (B) include an undertaking by Sellers (hereinafter defined) that they will take, and cause their representatives to take, all reasonable and lawfully permissible steps to encourage and/or to cause Newco
(hereinafter defined) to lawfully declare and pay a cash dividend of USD$0.50 (the “Newco Cash Dividend”) per issued share, par value $0.001 per share, of Newco (the “Newco Shares”) to the holders thereof,
immediately after the Closing (hereinafter defined) and (C) include a waiver by Sellers of their right to receive the Newco Cash Dividend in respect of any Newco Shares held by them; and 
 WHEREAS, in furtherance thereof, the Company approached the persons whose names are set forth in Exhibit A attached hereto
(collectively, the “Founders”), and asked that they agree, subject to the consummation of the Merger, and in connection therewith, to exchange the shares of Common Stock (hereinafter defined) set forth next to their names on
Exhibit A for warrants to purchase Newco Shares, exercisable upon satisfaction of a stock price target. 
  

 1 

 STATEMENT OF AGREEMENT 
 NOW, THEREFORE, in consideration of the foregoing and the mutual representations, warranties and undertakings and subject to the conditions herein
contained and intending to be legally bound hereby, the Company, on the one hand, and the Founders, on the other hand, hereby agree as follows: 
  

	1.	Definitions; References 

  

	 	1.1	“Closing” means the close of the Offer. 

  

	 	1.2	“Closing Date” means the day on which the Closing occurs. 

  

	 	1.3	“Common Stock” means the common stock of the Company. 

  

	 	1.4	“Newco” means a newly-formed, wholly-owned subsidiary of the Company to be incorporated under the laws of the British Virgin Islands.

  

	 	1.5	“Newco Share Earnout Target” means the closing sale price for the regular Trading Day (without considering after hours or other trading outside regular
trading session hours) of the Newco Shares on the applicable Trading Market (or, if no closing price is reported, the last reported sale price during that regular Trading Day) for any 20 days within any 30 day trading period beginning 90 days after
the Closing Date exceeds $13.50 per share. 

  

	 	1.6	“Obligations” mean a party’s obligations arising as a result of its agreements, undertakings, representations, warranties, indemnities and consents set
out in the Deed and other transaction documents. 

  

	 	1.7	“Offer” means the voluntary conditional cash offer by the Company to acquire all the issued shares in Bright World. 

  

	 	1.8	“Sellers” mean the Selling Shareholder, Mr. Wang Wei Yao and Mr. Shao Jian Jun. 

  

	 	1.9	“Trading Day” means (i) a day on which the Newco Shares are traded on a Trading Market, or (ii) if the Newco Shares are not listed or admitted for
trading on a Trading Market, a day on which the Newco Shares are traded in the over-the-counter market or is quoted in the over-the-counter market as reported by the National Quotation Bureau Incorporated (or any similar organization or agency
succeeding to its function of reporting prices). 

  

	 	1.10	“Trading Market” means the American Stock Exchange (“AMEX”) or, if the Newco Shares are not listed on AMEX, such other exchange or quotation
system on which the Newco Shares are listed or quoted for trading on the date in question. 

  

	2.	Merger 

  

	 	2.1	Immediately prior to the Closing, and contingent upon the consummation of the Closing (i.e., the Merger will occur only if the Closing is consummated), the Company shall
merge with and into Newco, with Newco surviving the merger (the “Merger”). Pursuant to the Merger, Newco will assume all rights and obligations of the Company under this letter agreement (this “Founders’
Agreement”). 

  

 2 

	3.	Exchange & Related Transactions 

  

	 	3.1	Exchange of Founder Shares. 

  

	 	(a)	Subject to the consummation of the Merger, and in connection therewith, the shares of Common Stock beneficially owned, directly or indirectly, by each Founder as set forth next to
his or her name on Exhibit A (the “Founder Shares”) will be converted into warrants to purchase an equal number of Newco Shares (the “New Founder Warrants”) as indicated on Exhibit A.

  

	 	(b)	Newco shall reimburse the Founders USD$0.01 per Founder Share exchanged, which amount represents the per Founder Share purchase price paid by Founders. The aggregate reimbursed
amount will be USD$32,000 (the “Reimbursed Amount”) and shall be deposited by Newco in a bank account established by it solely to hold the Reimbursed Amount (the “Bank Account”). 

  

	 	3.2	Warrant Agreement. On the Closing Date, Newco and the Founders will enter into a warrant agreement substantially in the form attached hereto as Exhibit B (the
“Warrant Agreement”). The New Founder Warrants will be subject to the terms and conditions of the Warrant Agreement, which, among other things, will provide that: 

  

	 	(a)	each New Founder Warrant will entitle the holder thereof to purchase one Newco Share at USD$0.01 per share (the “Warrant Price”); 

  

	 	(b)	the New Founder Warrants will not be exercisable for Newco Shares until the Newco Share Earnout Target is met; 

  

	 	(c)	thereafter, the New Founder Warrants will be exercisable in perpetuity; 

  

	 	(d)	upon satisfaction of the Newco Share Earnout Target, 

  

	 	(i)	Newco shall immediately apply the Reimbursed Amount in respect of the aggregate Warrant Price due for the New Founder Warrants; and 

  

	 	(ii)	if any interest accrues during the period commencing on the day Newco deposits the Reimbursed Amount in the Bank Account and ending on the day the Newco Share Earnout Target is met,
such interest shall be retained by Newco; and 

  

	 	(e)	 as soon as practicable after payment of the aggregate Warrant Price due for the New Founder Warrants, Newco shall issue to each Founder a certificate or
certificates representing the number of Newco Shares to which such Founder is entitled as set forth in the column titled “Number of New Founder Warrants (Newco Shares Issuable Thereunder)” of 

  

 3 

	 	 
Exhibit A, subject to adjustment in accordance with the terms of the Warrant Agreement and such Founder’s Warrant Certificate (hereinafter
defined). 

  

	 	3.3	Warrant Certificate. On the Closing Date, each Founder shall receive a warrant certificate substantially in the form attached hereto as Exhibit C (the
“Warrant Certificate”) evidencing the New Founder Warrants to which such Founder is entitled as set forth next to his or her name in Exhibit A. 

  

	 	3.4	Amendment to Registration Rights Agreement. On the Closing Date, Newco and the Founders will enter into an amendment and restatement of the Registration Rights Agreement,
dated as of November 15, 2007, among the Company and the Founders, substantially in the form attached hereto as Exhibit D. 

  

	4.	Miscellaneous 

  

	 	4.1	Notices. All notices, other communications or documents provided for or permitted to be given hereunder, shall be made in writing and shall be given either personally by
hand-delivery, by facsimile transmission, by mailing the same in a sealed envelope, registered first-class mail, postage prepaid, return receipt requested, or by air courier guaranteeing overnight delivery: 

  

	 	(a)	if to the Company or Newco to: 

 China
Holdings Acquisition Corp. 
 33 Riverside Avenue, 5th Floor 
 Westport, CT 06880 
 Attention: Paul K. Kelly, Chief Executive Officer 
 Fax: (203) 226-8022 
 with a copy to: 
 Akin Gump Strauss Hauer & Feld, LLP 
 590 Madison Avenue 
 New York, NY 10022-2524 
 Attention: Bruce S. Mendelsohn, Esq. 
 Fax: (212) 872-1002 
  

	 	(b)	if to a Founder, to the address set forth below such Founder’s name on the signature page hereto. 

  

	 	4.2	Termination. If the Selling Shareholder’s Obligations under the Deed lapse in accordance with Section 6.2 thereof, the Company’s and the Founders’
obligations under this Founders’ Agreement shall immediately terminate. 

  

 4 

	 	4.3	Successors and Assigns. 

  

	 	(a)	The Founders shall not transfer or assign their rights and obligations under this Founders’ Agreement prior to the Closing Date. Thereafter, the Founders may transfer or assign
their rights and obligations under the documents attached as Exhibits B, C and D hereto in accordance with the terms and conditions for assignment set forth in such Exhibits. 

 

	 	(b)	This Agreement shall be binding upon and shall inure to the benefit of the parties hereto, and their respective successors and permitted assigns. 

  

	 	4.4	Governing Law; Service of Process; Consent to Jurisdiction. 

  

	 	(a)	THIS FOUNDERS’ AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK APPLICABLE TO AGREEMENTS MADE AND TO BE PERFORMED WITHIN THAT
STATE. 

  

	 	(b)	To the fullest extent permitted by applicable law, each party hereto (i) agrees that any claim, action or proceeding by such party seeking any relief whatsoever arising out of,
or in connection with, this Founders’ Agreement or the transactions contemplated hereby shall be brought only in the United States District Court for the Southern District of New York and in any New York State court located in the Borough of
Manhattan and not in any other State or Federal court in the United States of America or any court in any other country, (ii) agrees to submit to the exclusive jurisdiction of such courts located in the State of New York for purposes of all
legal proceedings arising out of, or in connection with, this Founders’ Agreement or the transactions contemplated hereby and (iii) irrevocably waives any objection which it may now or hereafter have to the laying of the venue of any such
proceeding brought in such a court and any claim that any such proceeding brought in such a court has been brought in an inconvenient forum. 

  

	 	4.5	Headings. The section and paragraph headings contained in this Founders’ Agreement are for reference purposes only and shall not in any way affect the meaning or
interpretation of this Founders’ Agreement. 

  

	 	4.6	Severability. Whenever possible, each provision or portion of any provision of this Founders’ Agreement will be interpreted in such manner as to be effective and valid
under applicable law but if any provision or portion of any provision of this Founders’ Agreement is held to be invalid, illegal or unenforceable in any respect under any applicable law in any jurisdiction, such invalidity, illegality or
unenforceability will not affect any other provision or portion of any provision in such jurisdiction, and this Founders’ Agreement will be reformed, construed and enforced in such jurisdiction as if such invalid, illegal or unenforceable
provision or portion of any provision had never been contained herein. 

  

 5 

	 	4.7	Amendment. This Founders’ Agreement (and the Exhibits hereto) may not be amended or modified and waivers and consents to departures from the provisions hereof (or
thereof) may not be given, except by an instrument or instruments in writing making specific reference to this Founders’ Agreement (and, if applicable, the respective Exhibits hereto) and signed by the Company, the Founders and the Selling
Shareholder. Any attempted amendment, modification, waiver or consent to departure made other than as provided in the first sentence of this Section 4.7 shall be null and void. 

  

	 	4.8	Counterparts. This Founders’ Agreement may be executed in any number of separate counterparts and by the parties hereto in separate counterparts each of which when so
executed shall be deemed to be an original and all of which together shall constitute one and the same agreement. 

 (Signature Pages Follow) 
  

 6 

 IN WITNESS WHEREOF the parties hereto have caused this Founders’ Agreement to be executed on the day and year first
above written. 
  

	
	 /s/ Paul K. Kelly

	Paul K. Kelly
	
	Address:
	
	  

	
	  

	
	 /s/ James D. Dunning, Jr.

	James D. Dunning, Jr.
	
	Address:
	
	  

	
	  

	
	 /s/ Alan G. Hassenfeld

	Alan G. Hassenfeld
	
	Address:
	
	  

	
	  

	
	 /s/ Gregory E. Smith

	Gregory E. Smith
	
	Address:
	
	  

	
	  

	
	 /s/ Cheng Yan Davis

	Cheng Yan Davis
	
	Address:
	
	  

	
	  

	
	 /s/ Xiao Feng

	Xiao Feng
	
	Address:
	
	  

	
	  

	
	 /s/ Soopakij (Chris) Chearavanont

	Soopakij (Chris) Chearavanont
	
	Address:
	
	  

	
	  

	
	 /s/ Ruey Bin Kao

	Ruey Bin Kao
	
	Address:
	
	  

	
	  

 Signature Page to Founders’ Agreement 

	
	Agreed and Accepted By:
	
	China Holdings Acquisition Corp.
	
	 /s/ Paul K. Kelly

	 Paul K. Kelly

	 Chairman and Chief Executive Officer

  

	
	Agreed and Acknowledged By:
	
	World Sharehold Limited
	
	 /s/ Wang Wei Yao

	Director
	
	 /s/ Shao Jian Jun

	Director/Secretary

 Signature Page to Founders’ Agreement 

 Exhibit A 
 Beneficial Ownership Table 
  

							
	 Name
	  	 Title
	  	 Number of Shares of
 Common Stock
	  	 Number of New Founder Warrants
(Newco Shares
Issuable
Thereunder)

	 Paul K. Kelly
	  	Chairman of the Board, Chief Executive Officer, Secretary and Treasurer	  	1,096,255	  	1,096,255
				
	 James D. Dunning, Jr.
	  	President and Director	  	1,096,255	  	1,096,255
				
	 Alan G. Hassenfeld
	  	Director	  	575,760	  	575,760
				
	 Gregory E. Smith
	  	Director	  	143,910	  	143,910
				
	 Cheng Yan Davis
	  	Director	  	115,200	  	115,200
				
	 Xiao Feng
	  	Director	  	57,540	  	57,540
				
	 Soopakij (Chris) Chearavanont
	  	Member of the Advisory Board	  	57,540	  	57,540
				
	 Ruey Bin Kao
	  	Member of the Advisory Board	  	57,540	  	57,540

 Exhibit B 
 Warrant Agreement 

 WARRANT AGREEMENT 
 THIS WARRANT AGREEMENT made as of [                    ], 2008, is between [BVI Newco], a company incorporated
under the laws of the British Virgin Islands, with offices at 33 Riverside Avenue, 5th Floor Westport, CT 06880 (the “Company”), and the persons listed on Exhibit A hereto (collectively, the
“Founders”). 
 WHEREAS, on the date hereof, China Holdings Acquisition Corp., a Delaware corporation
(“CHAC”) merged with and into the Company, with the Company surviving the merger (the “Merger”); 
 WHEREAS, pursuant to an agreement between the Founders and the Company, the Founders agreed that, in connection with the Merger, the 3,200,000 shares of CHAC’s common stock collectively held by the Founders, would be converted into
warrants (the “Warrants”) to purchase 3,200,000 shares, par value $0.001 per share (the “Common Stock”), of Newco; 
 WHEREAS, the Company desires to provide for the form and provisions of the Warrants, the terms upon which they shall be issued and exercised, and the respective rights, limitation of rights and immunities of the
Company and the Founders; and 
 WHEREAS, all acts and things have been done and performed which are necessary to make the Warrants, when
executed on behalf of the Company, as provided herein, the legally valid and binding obligations of the Company, and to authorize the execution and delivery of this Warrant Agreement. 
 NOW, THEREFORE, in consideration of the mutual agreements herein contained, the parties hereto agree as follows: 
 1. Warrants. 
 1.1 Form of
Warrant. Each Warrant shall be (a) issued in registered form only, (b) in substantially the form of Exhibit B hereto, respectively, the provisions of which are incorporated herein, (c) signed by, or bear the
facsimile signature of, the Chairman of the Board or, the Chief Executive Officer or the President, and the Treasurer, Secretary or Assistant Secretary of the Company, and (d) shall bear a facsimile of the Company’s seal. In the event the
person whose facsimile signature has been placed upon any Warrant shall have ceased to serve in the capacity in which such person signed the Warrant before such Warrant is issued, it may be issued with the same effect as if he or she had not ceased
to be such at the date of issuance. 
 1.2 Effect of Countersignature. Unless and until countersigned by the Company pursuant to this
Agreement, a Warrant shall be invalid and of no effect and may not be exercised by the Holder thereof. Warrant certificates shall be dated the date of countersignature by the Company. 
  

 1 

 1.3 Registration. 
 1.3.1 Warrant Register. The Company shall maintain books (“Warrant Register”), for the registration of the original issuance and transfers of the Warrants. Upon the initial issuance of the
Warrants, the Company shall issue and register in the name of each Founder a Warrant to purchase the number of shares set forth next to each such Founder’s name on Exhibit A. 
 1.3.2 Holder. Prior to due presentment for registration of transfer of any Warrant, the Company may deem and treat the Founder in whose name such
Warrant shall be registered upon the Warrant Register (“Holder”), as the absolute owner of such Warrant and of each Warrant represented thereby (notwithstanding any notation of ownership or other writing on the warrant certificate
made by anyone other than the Company), for the purpose of any exercise thereof, and for all other purposes, and the Company shall not be affected by any notice to the contrary. 
 2. Terms and Exercise of Warrants. 
 2.1 Warrant Price. Each Warrant shall entitle the Holder thereof, subject to the provisions of such Warrant and of this Warrant Agreement, to purchase from the Company the number of shares of Common Stock stated therein, at the price
of $0.01 per whole share, subject to the adjustments provided in Section 3 hereof and in the last sentence of this Section 2.1. The term “Warrant Price” as used in this Warrant Agreement refers to the price
per share at which a share may be purchased at the time a Warrant is exercised. 
 2.2 Condition to Exercisability. Notwithstanding
anything herein to the contrary, the Warrants shall not be exercisable for shares unless and until the closing sale price for the regular Trading Day (without considering after hours or other trading outside regular trading session hours) of the
Common Stock on the applicable Trading Market (or, if no closing price is reported, the last reported sale price during the regular Trading Day) for any 20 days within any 30 day trading period beginning 90 days after the Closing Date exceeds $13.50
per share (the “Common Stock Earnout Target”). For the purposes of this Section 2.2, “Trading Day” shall mean (i) a day on which the Common Stock is traded on a Trading Market, or (ii) if the
Common Stock is not listed or admitted for trading on a Trading Market, a day on which the Common Stock is traded in the over-the-counter market or is quoted in the over-the-counter market as reported by the National Quotation Bureau Incorporated
(or any similar organization or agency succeeding to its function of reporting prices); and “Trading Market” shall mean the American Stock Exchange (“AMEX”) or, if the Common Stock is not listed on AMEX, such other
exchange or quotation system on which the Common Stock is listed or quoted for trading on the date in question. 
 2.3 Duration of
Warrants. A Warrant may be exercised only during the period commencing on the day on which the Common Stock Earnout Target is satisfied (the “Common Stock Earnout Target Date”) and, thereafter, in perpetuity. 
  

 2 

 2.4 Exercise of Warrants. 
 2.4.1 Payment. Immediately after the satisfaction of the Common Stock Earnout Target, the Company shall cause funds in the amount of USD$32,000,
in the aggregate, which are held for the benefit of the Founders in a bank account established by the Company solely to hold such amount, to be applied in respect of the aggregate Warrant Price due for the Warrants and the Holder shall exercise the
Warrants by sending them to the Company offices described in the preamble hereto, with the subscription form, as set forth in the Warrant, duly executed. Holder shall pay any and all applicable taxes due in connection with the exercise of the
Warrant, the exchange of the Warrant for the Common Stock, and the issuance of the Common Stock. 
 2.4.2 Issuance of Certificates.
As soon as practicable after the application by the Company of the funds in payment of the Warrant Price, the Company shall issue to the Holder of such Warrant a certificate or certificates representing the number of full shares of Common Stock to
which he, she or it is entitled, registered in such name or names as may be directed by him, her or it. In no event will the Company be obligated to pay such Holder any cash consideration upon exercise (unless pursuant to Section 3.5) or
otherwise “net cash settle” the Warrant. 
 2.4.3 Valid Issuance. All shares of Common Stock issued upon the proper
exercise or surrender of a Warrant in conformity with this Agreement shall be validly issued, fully paid and nonassessable. 
 2.4.4 Date
of Issuance. Each person or entity in whose name any such certificate for shares of Common Stock is issued shall, for all purposes, be deemed to have become the holder of record of such shares on the date on which the Warrant was surrendered and
payment of the Warrant Price was made, irrespective of the date of delivery of such certificate, except that, if the date of such surrender and payment is a date when the share register of the Company is closed, such person shall be deemed to have
become the holder of such shares at the close of business on the next succeeding date on which the share register is open. 
 3.
Adjustments. 
 3.1 Dividends - Split-Ups. If, after the date hereof, and subject to the provisions of Section 3.7
below, the number of outstanding shares of Common Stock is increased by a dividend payable in shares of Common Stock, or by a division or split-up of shares of Common Stock, or other similar event, then, on the effective date of such dividend,
division or split-up or similar event, the number of shares of Common Stock issuable on exercise of each Warrant shall be increased in proportion to such increase in outstanding shares of Common Stock. 
 3.2 Aggregation of Shares. If, after the date hereof, and subject to the provisions of Section 3.6, the number of outstanding shares
of Common Stock is decreased by a consolidation, combination, reverse stock split or reclassification of shares of Common Stock or other similar event, then, on the effective date of such consolidation, combination, reverse stock split,
reclassification or similar event, the number of shares of Common Stock issuable on exercise of each Warrant shall be decreased in proportion to such decrease in outstanding shares of Common Stock. 
  

 3 

 3.3 Adjustments in Exercise Price. Whenever the number of shares of Common Stock purchasable upon
the exercise of the Warrants is adjusted, as provided in Sections 3.1 and 3.2 above, the Warrant Price shall be adjusted (to the nearest cent) by multiplying such Warrant Price, immediately prior to such adjustment, by a
fraction, (a) the numerator of which shall be the number of shares of Common Stock purchasable upon the exercise of the Warrants immediately prior to such adjustment, and (b) the denominator of which shall be the number of shares of Common
Stock so purchasable immediately thereafter. 
 3.4 Extraordinary Dividends. If the Company, at any time during the Exercise Period,
shall pay a dividend in cash, securities or other assets to the holders of Common Stock (or other shares of the Company into which the Warrants are convertible), other than (y) as described in Sections 3.1, 3.2 or
3.5, or (z) regular quarterly or other periodic dividends, (any such non-excluded event being referred to herein as an “Extraordinary Dividend”), then upon exercise by Holder of its Warrants, such Holder shall be
entitled to receive an amount in cash equal to the number of shares of Common Stock received upon exercise of the Warrants held by such Holder multiplied by the per share consideration paid in respect of each share of Common Stock in the
Extraordinary Dividend. 
 3.5 Replacement of Securities upon Reorganization, etc. In case of any reclassification or reorganization
of the outstanding shares of Common Stock (other than a change covered by Sections 3.1 or 3.2 hereof or one that solely affects the par value of such shares of Common Stock), or, in the case of any merger or consolidation of the
Company with or into another corporation (other than a consolidation or merger in which the Company is the continuing corporation and that does not result in any reclassification or reorganization of the outstanding shares of Common Stock), or, in
the case of any sale or conveyance to another corporation or entity of the assets or other property of the Company as an entirety or substantially as an entirety, in connection with which the Company is dissolved, the Holders shall thereafter have
the right to purchase and receive, upon the basis and upon the terms and conditions specified in the Warrants and in lieu of the shares of Common Stock of the Company immediately theretofore purchasable and receivable upon the exercise of the rights
represented thereby, the kind and amount of shares or other securities or property (including cash) receivable upon such reclassification, reorganization, merger or consolidation, or upon a dissolution following any such sale or transfer, that the
Holder would have received if such Holder had exercised his, her or its Warrant(s) immediately prior to such event; and if any reclassification also results in a change in shares of Common Stock covered by Sections 3.1 or 3.2,
then such adjustment shall be made pursuant to Sections 3.1, 3.2, and this Section 3.5. The provisions of this Section 3 shall similarly apply to successive reclassifications,
reorganizations, mergers or consolidations, sales or other transfers. 
 3.6 Notices of Changes in Warrant. Upon every adjustment of
the Warrant Price or the number of shares issuable upon exercise of a Warrant, the Company shall give written notice thereof to each Holder, at the last address set forth for such Holder in the Warrant Register, which notice shall state the Warrant
Price resulting from such adjustment and the increase or decrease, if any, in the number of shares purchasable at such price upon the exercise of a Warrant, setting forth in reasonable detail the method of calculation and the facts upon which such
calculation is based, and the record date or the effective date of the event. Failure to give such notice, or any defect therein, shall not affect the legality or validity of such event. 
  

 4 

 3.7 No Fractional Shares. Notwithstanding any provision contained in this Warrant Agreement to the
contrary, the Company shall not issue fractional shares upon exercise of Warrants. If, by reason of any adjustment made pursuant to this Section 3, any Holder would be entitled, upon the exercise of such Warrant, to receive a fractional
interest in a share, the Company shall, upon such exercise, round up to the nearest whole number the number of the shares of Common Stock to be issued to the Holder. 
 3.8 Form of Warrant. The form of Warrant need not be changed because of any adjustment pursuant to this Section 3, and Warrants issued after such adjustment may state the same Warrant Price and the
same number of shares as is stated in the Warrants initially issued pursuant to this Agreement. However, the Company may, at any time, in its sole discretion, make any change in the form of Warrant that the Company may deem appropriate and that does
not affect the substance thereof, and any Warrant thereafter issued or countersigned, whether in exchange or substitution for an outstanding Warrant or otherwise, may be in the form as so changed. 
 3.9 Notice of Certain Transactions. In the event that the Company shall propose to (a) offer the holders of its Common Stock rights to
subscribe for or to purchase any securities convertible into shares of Common Stock or shares of any class or any other securities, rights or options, (b) issue any rights, options or warrants entitling the holders of Common Stock to subscribe
for shares of Common Stock or (c) make a tender offer, redemption offer or exchange offer with respect to the Common Stock, the Company shall send to the Holders a notice of such proposed action or offer. Such notice shall be mailed to the
Holders at their addresses as they appear in the Warrant Register, which shall specify the record date for the purposes of such dividend, distribution or rights, or the date such issuance or event is to take place and the date of participation
therein by the holders of Common Stock, if any such date is to be fixed, and shall briefly indicate the effect of such action on the Common Stock and on the number and kind of any other shares and on other property, if any, and the number of shares
of Common Stock and other property, if any, issuable upon exercise of each Warrant and the Warrant Price after giving effect to any adjustment pursuant to this Section 3 which would be required as a result of such action. Such notice
shall be given as promptly as practicable after the Board has determined to take any such action and (x) in the case of any action covered by clause (a) or (b) above at least 10 days prior to the record date for determining the
holders of the Common Stock for purposes of such action or (y) in the case of any other such action at least 20 days prior to the date of the taking of such proposed action or the date of participation therein by the holders of Common Stock,
whichever shall be the earlier. 
 3.10 Other Events. If any event occurs as to which the foregoing provisions of this
Section 3 are not strictly applicable or, if strictly applicable, would not, in the good faith judgment of the Board, fairly and adequately protect the purchase rights of the Holders in accordance with the essential intent and principles
of such provisions, then the Board shall make such adjustments in the application of such provisions, in accordance with such essential intent and principles, as shall be reasonably necessary, in the good faith opinion of the Board, to protect such
purchase rights as aforesaid. 
  

 5 

 4. Transfer. 
 4.1 Transfer. 
 (a) For a period of time commencing from the date hereof and ending on a date that is
six months following the consummation of the Merger (the “Lock-Up Period”), the Holders shall not (i) sell, offer to sell, contract or agree to sell, hypothecate, pledge, grant any option to purchase or otherwise dispose of or agree
to dispose of, directly or indirectly, or establish or increase a put equivalent position or liquidate or decrease a call equivalent position within the meaning of Section 16 of the Securities Exchange Act of 1934, as amended, and the rules and
regulations of the SEC promulgated thereunder, with respect to any Warrants, the Common Stock issuable upon exercise of the Warrants or any securities convertible into or exercisable or exchangeable for the Warrants or other rights to purchase
Common Stock or any such securities (the “Offering Securities”), (ii) enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of the Offering Securities,
whether any such transaction is to be settled by delivery of Common Stock or such other securities, in cash or otherwise, or (iii) publicly announce any intention to effect any transaction specified in clause (i) or (ii). 
 (b) Notwithstanding the foregoing, the Company shall register for transfer any Warrants to be transferred by Holder (i) to relatives and trusts for
estate planning purposes, (ii) pursuant to the laws of descent and distribution upon death, (iii) pursuant to a qualified domestic relations order, and (iv) to officers, directors and employees of the Company and persons affiliated
with the Founders; provided, however, that the permissive transfers set forth above may be implemented only upon the respective transferee’s written agreement with the Company to be bound by the terms and conditions of such transfer
restrictions. 
 (c) Further, after the applicable Lock-Up Period has elapsed, the Warrants shall be freely transferable by the Holder
thereof; provided that the transfer of Warrants or Common Stock issued upon exercise of such Warrants is subject to, and must be made in compliance with, any restrictions on transfer imposed by federal or state securities law. 
 4.2 Legend. Each certificate representing a Warrant or the Common Stock issuable upon exercise of such Warrant shall be stamped or otherwise
imprinted with a legend in the following form: 
 “THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933 AND MAY NOT BE SOLD OR OTHERWISE TRANSFERRED, PLEDGED, OR HYPOTHECATED UNLESS AND UNTIL SUCH SECURITIES ARE REGISTERED UNDER SUCH ACT, OR PURSUANT TO A VALID EXEMPTION FROM REGISTRATION THEREFROM. THE TRANSFERABILITY OF THIS
SECURITY IS ALSO SUBJECT TO RESTRICTIONS CONTAINED IN THE WARRANT AGREEMENT, DATED AS OF OCTOBER     , 2008, BETWEEN THE COMPANY AND THE PERSONS SET FORTH ON EXHIBIT A THERETO, WHICH WARRANT AGREEMENT THE COMPANY
WILL FURNISH TO THE HOLDER HEREOF UPON REQUEST.” 
  

 6 

 4.3 Registration of Transfer. The Company shall register the transfer, from time to time, of any
outstanding Warrant into the Warrant Register, upon surrender of such Warrant for transfer, properly endorsed with signatures properly guaranteed and accompanied by appropriate instructions for transfer. Upon any such transfer, a new Warrant
representing an equal aggregate number of Warrants shall be issued and the old Warrant shall be cancelled by the Company. 
 4.4 Procedure
for Surrender of Warrants. Warrants may be surrendered to the Company, together with a written request for transfer, and, thereupon, the Company shall issue in exchange therefor one or more new Warrants as requested by the Holder of the Warrants
so surrendered, representing an equal aggregate number of Warrants; provided, however, that, in the event a Warrant surrendered for transfer bears a restrictive legend, the Company shall not cancel such Warrant and shall issue new Warrants in
exchange therefor until the Company has received an opinion of counsel for the Company stating that such transfer may be made and indicating whether the new Warrants must also bear a restrictive legend. 
 4.5 Fractional Warrants. The Company shall not be required to effect any registration of transfer which will result in the issuance of a warrant
certificate for a fraction of a warrant. 
 4.6 Service Charges. No service charge shall be made for any registration of transfer of
Warrants. 
 5. Other Provisions Relating to Rights of Holders of Warrants. 
 5.1 No Rights as Shareholder. A Warrant does not entitle the Holder to any of the rights of a shareholder of the Company, including, without
limitation, the right to receive dividends, or other distributions, exercise any preemptive rights to vote or to consent or to receive notice as shareholders in respect of the meetings of shareholders or the election of directors of the Company or
any other matter. 
 5.2 Lost, Stolen Mutilated or Destroyed Warrants. If any Warrant is lost, stolen, mutilated or destroyed, the
Company may, on such terms as to indemnity or otherwise as they may in its discretion impose (which terms shall, in the case of a mutilated Warrant, include the surrender thereof), issue a new Warrant of like denomination, tenor and date as the
Warrant so lost, stolen, mutilated or destroyed. Any such new Warrant shall constitute a substitute contractual obligation of the Company, whether or not the allegedly lost, stolen, mutilated or destroyed Warrant shall be at any time enforceable by
anyone. 
 5.3 Reservation of Common Stock. The Company shall at all times reserve and keep available a number of its authorized but
unissued shares of Common Stock that will be sufficient to permit the exercise in full of all outstanding Warrants issued pursuant to this Warrant Agreement. 
  

 7 

 5.4 Limitation on Monetary Damages. In no event shall any Holder be entitled to receive monetary
damages for failure to settle any Warrant exercise if the Common Stock issuable upon exercise of the Warrants has not been registered with the Securities and Exchange Commission pursuant to an effective registration statement or if a current
prospectus is not available for delivery by the Company. 
 6. Miscellaneous Provisions. 
 6.1 Payment of Taxes. The Company will, from time to time, promptly pay all taxes and charges that may be imposed upon the Company in respect of
the issuance or delivery of shares of Common Stock upon the exercise of Warrants, but the Company shall not be obligated to pay any transfer taxes in respect of the Warrants or such shares. 
 6.2 Successors. All the covenants and provisions of this Warrant Agreement by or for the benefit of the Company shall bind and inure to the
benefit of its respective successors and assigns. 
 6.3 Notices. Any notice, statement or demand authorized by this Warrant Agreement
shall be delivered by hand or sent by registered or certified mail or overnight courier service, addressed as follows (or to such other address as any party may specify in a written notice delivered in accordance herewith): 
 China Holdings Acquisition Corp. 
 33
Riverside Avenue, 5th Floor 
 Westport, CT 06880 
 Attn: Paul K. Kelly, Chief Executive Officer 
 with a copy to: 
 Akin Gump Strauss Hauer & Feld, LLP 
 590 Madison Avenue 
 New York, NY 10022-2524 
 Attention: Bruce S. Mendelsohn, Esq. 
 Fax: (212) 872-1002 
 If to a Founder, to the address set forth below such Founder’s name on the signature page hereto. 
 Any notice, sent pursuant to this Warrant Agreement shall be effective, if delivered by hand, upon receipt thereof by the party to whom it is addressed, if sent by
overnight courier, on the next business day of the delivery to the courier, and if sent by registered or certified mail on the third day after registration or certification thereof. 
 6.4 Applicable Law. The validity, interpretation, and performance of this Warrant Agreement and of the Warrants shall be governed in all respects
by the laws of the State of New York, without giving effect to conflict of laws. The Company hereby agrees that any action, proceeding or claim against it arising out of or relating in any way to this Warrant Agreement shall be brought and enforced
in the courts of the State of New York or the United 

  

 8 

 
States District Court for the Southern District of New York, and irrevocably submits to such jurisdiction, which jurisdiction shall be exclusive. The Company
hereby waives any objection to such exclusive jurisdiction and that such courts represent an inconvenient forum. Any such process or summons to be served upon the Company may be served by transmitting a copy thereof by registered or certified mail,
return receipt requested, postage prepaid, addressed to it at the address set forth in Section 6.3 hereof. Such mailing shall be deemed-personal service and shall be legal and binding upon the Company in any action, proceeding or claim.

 6.5 Persons Having Rights under this Warrant Agreement. Nothing in this Warrant Agreement expressed and nothing that may be implied
from any of the provisions hereof is intended, or shall be construed, to confer upon, or give to, any person or corporation other than the Company and the Holders any right, remedy, or claim under or by reason of this Warrant Agreement or of any
covenant, condition, stipulation, promise, or agreement hereof. All covenants, conditions, stipulations, promises, and agreements contained in this Agreement shall be for the sole and exclusive benefit of the parties hereto and their successors and
assigns. 
 6.6 Counterparts - Facsimile Signatures. This Warrant Agreement may be executed in any number of counterparts, and each of
such counterparts shall, for all purposes, be deemed to be an original, and all such counterparts shall together constitute one and the same instrument. Facsimile signatures shall constitute original signatures for all purposes of this Warrant
Agreement. 
 6.7 Effect of Headings. The section headings herein are for convenience only and are not part of this Warrant Agreement
and shall not affect the interpretation thereof. 
 6.8 Amendments. 
 6.8.1 This Agreement and any Warrant certificate may be amended by the parties hereto by executing a supplemental warrant agreement (a
“Supplemental Agreement”). 
 6.8.2 The Company may amend this Warrant Agreement and the Warrants by executing a
Supplemental Agreement with the consent of the Holders of not fewer than a majority of the Warrants affected by such amendment, for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this
Agreement or of modifying in any manner the rights of the Holders under this Warrant Agreement; provided, however, that, without the consent of each of the Holders affected thereby, no such amendment may be made that (i) changes the Warrants so
as to reduce the number of shares purchasable upon exercise of the Warrants or so as to increase the Exercise Price (other than as provided by Section 3), (ii) otherwise adversely affects the exercise rights of the Holders in any
material respect, or (iii) reduces the number of Warrants the Holders of which must consent for amendment of this agreement or the Warrants. 
 6.9 Severability. This Warrant Agreement shall be deemed severable, and the invalidity or unenforceability of any term or provision hereof shall not affect the validity or enforceability of this Warrant Agreement or of any other term
or provision hereof. Furthermore, in lieu of any such invalid or unenforceable term or provision, the parties hereto intend that there shall be added as a part of this Warrant Agreement a provision as similar in terms to such invalid or
unenforceable provision as may be possible and be valid and enforceable. 
  

 9 

 IN WITNESS WHEREOF the parties hereto have caused this Warrant Agreement to be executed on the day and year first above
written. 
  

	
	[BVI NEWCO]
	
	  

	Name:
	Title:
	
	Agreed and Accepted By
	
	  

	Paul K. Kelly
	
	  

	James D. Dunning, Jr.
	
	  

	Alan G. Hassenfeld
	
	  

	Gregory E. Smith
	
	  

	Cheng Yan Davis
	
	  

	Xiao Feng
	
	  

	Soopakij (Chris) Chearavanont
	
	  

	Ruey Bin Kao

 EXHIBIT A 
 Beneficial Ownership Table 
  

					
	 Name
	 	 Title
	 	 Shares of Common Stock

	Paul K. Kelly	 	Chairman of the Board, Chief Executive Officer, Secretary and Treasurer	 	1,096,255
			
	James D. Dunning, Jr.	 	President and Director	 	1,096,255
			
	Alan G. Hassenfeld	 	Director	 	575,760
			
	Gregory E. Smith	 	Director	 	143,910
			
	Cheng Yan Davis	 	Director	 	115,200
			
	Xiao Feng	 	Director	 	57,540
			
	Soopakij (Chris) Chearavanont	 	Member of the Advisory Board	 	57,540
			
	Ruey Bin Kao	 	Member of the Advisory Board	 	57,540

  

 11 

 Exhibit C 
 Warrant Certificate 

 SPECIMEN WARRANT CERTIFICATE 
  

			
	NUMBER	 	WARRANTS
	                    -	 	

 THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE BEEN ACQUIRED FOR INVESTMENT AND HAVE NOT BEEN REGISTERED
UNDER THE SECURITIES ACT OF 1933 AND MAY NOT BE SOLD OR OTHERWISE TRANSFERRED, PLEDGED, OR HYPOTHECATED UNLESS AND UNTIL SUCH SECURITIES ARE REGISTERED UNDER SUCH ACT, OR PURSUANT TO A VALID EXEMPTION FROM REGISTRATION THEREFROM. THE TRANSFERABILITY
OF THIS SECURITY IS ALSO SUBJECT TO RESTRICTIONS CONTAINED IN THE WARRANT AGREEMENT, DATED OCTOBER __, 2008, BETWEEN THE COMPANY AND THE PERSONS SET FORTH ON EXHIBIT A THERETO, WHICH WARRANT AGREEMENT THE COMPANY WILL FURNISH TO THE HOLDER
HEREOF UPON REQUEST. 
 [BVI NEWCO] 
 CUSIP 
 WARRANT 
 THIS CERTIFIES THAT,
for value received 
 is the registered holder (the “Holder”) of a Warrant or Warrants (the “Warrant”) to purchase one fully paid and
non-assessable share, par value $.001 per share (“Shares”), of [Insert Name of BVI Newco], a company incorporated under the laws of the British Virgin Islands (the “Company”), for each Warrant evidenced by this Warrant
Certificate. The Warrant entitles the Holder thereof to purchase from the Company commencing on the day on which the Common Stock Earnout Target (as such term is defined in the Warrant Agreement) is satisfied, such number of Shares of the Company at
the price of $0.01 per share, upon surrender of this Warrant Certificate and payment of the Warrant Price at the office of the Company, but only subject to the conditions set forth herein and in the Warrant Agreement between the Company and the
persons set forth on Exhibit A thereto. In no event will the Company be required to net cash settle the warrant exercise. The Warrant Agreement provides that upon the occurrence of certain events, the number of Warrant Shares purchasable
hereunder, set forth on the face hereof, may, subject to certain conditions, be adjusted. 
 No fraction of a Share will be issued upon any
exercise of a Warrant. If, upon exercise of a Warrant, a Holder would be entitled to receive a fractional interest in a Share, the Company will, upon exercise, round up to the nearest whole number the number of shares to be issued to the Holder.

 Upon due presentment for registration of transfer of the Warrant Certificate at the office of the Company, a new Warrant Certificate or
Warrant Certificates of like tenor and evidencing in the aggregate a like number of Warrants shall be issued to the transferee in exchange for this Warrant Certificate, subject to the limitations provided in the Warrant Agreement, without charge
except for any applicable tax or other governmental charge. 
 The Company may deem and treat the Holder as the absolute owner of this
Warrant Certificate (notwithstanding any notation of ownership or other writing hereon made by anyone), for the purpose of any exercise hereof, of any distribution to the Holder, and for all other purposes, and the Company shall not be affected by
any notice to the contrary. 
 This Warrant does not entitle the Holder to any of the rights of a shareholder of the Company. 
  

							
	By	 	  
	 		 	  

		 	Secretary	 		 	Chief Executive Officer

 SUBSCRIPTION FORM 
 To Be Executed by the Holder in Order to Exercise Warrants 
 The undersigned Holder irrevocably elects to exercise
                  Warrants represented by this Warrant Certificate, and to purchase the shares, par value $0.001 per share, issuable upon the exercise of
such Warrants, and requests that Certificates for such shares shall be issued in the name of 
  

	
	  

	(PLEASE TYPE OR PRINT NAME AND ADDRESS)
	  

  

			
	  

	  

	(SOCIAL SECURITY OR TAX IDENTIFICATION NUMBER)

  

			
	and be delivered to	 	  

		 	(PLEASE PRINT OR TYPE NAME AND ADDRESS)

  
  
  

							
	Dated:	 	  
	 		 	  

		 		 		 	(SIGNATURE)
				
		 		 		 	  

		 		 		 	(ADDRESS)
				
		 		 		 	  

		 		 		 	  

		 		 		 	(TAX IDENTIFICATION NUMBER)

 ASSIGNMENT 
 To Be Executed by the Holder in Order to Assign Warrants 
  

					
	For Value Received	 	  
	 	, hereby sell, assign, and transfer unto

  

			
	  

	(PLEASE TYPE OR PRINT NAME AND ADDRESS)
	  

	  

	  

	(SOCIAL SECURITY OR TAX IDENTIFICATION NUMBER)

  

			
	and be delivered to	 	  

		 	(PLEASE PRINT OR TYPE NAME AND ADDRESS)

  

					
	  
	 	of the Warrants represented by this Warrant Certificate, and hereby irrevocably constitute and appoint	 	  

	Attorney to transfer this Warrant Certificate on the books of the Company, with full power of substitution in the premises.

  

							
	Dated:	 	  
	 		 	  

		 		 		 	(SIGNATURE)

 THE SIGNATURE TO THE ASSIGNMENT OF THE SUBSCRIPTION FORM MUST CORRESPOND TO THE NAME WRITTEN UPON THE FACE OF THIS
WARRANT CERTIFICATE IN EVERY PARTICULAR, WITHOUT ALTERATION OR ENLARGEMENT OR ANY CHANGE WHATSOEVER, AND MUST BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP IN
AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM, PURSUANT TO SEC RULE 17Ad-15.) 

 Exhibit D 
 Amendment to Registration Rights Agreement 

 AMENDED AND RESTATED REGISTRATION RIGHTS AGREEMENT 
 dated as of                     
    , 200   
 among 
 [BVI NEWCO], 
 (AS SUCCESSOR TO CHINA HOLDINGS ACQUISITION CORP.)

 and 
 THE PERSONS
NAMED HEREIN 

 TABLE OF CONTENTS 
  

					
	 	  	 	  	Page
	
	ARTICLE 1
	DEFINITIONS
			
	 Section 1.01.
	  	Defined Terms	  	2
	 Section 1.02.
	  	General Interpretive Principles	  	4
	
	ARTICLE 2
	REGISTRATION RIGHTS
			
	 Section 2.01.
	  	Registrations on Form S-3	  	5
	 Section 2.02.
	  	Demand Registrations	  	6
	 Section 2.03.
	  	Incidental Registrations (“Piggy-Back” Registrations)	  	9
	 Section 2.04.
	  	Registration Procedures	  	11
	 Section 2.05.
	  	Underwritten Offerings	  	15
	 Section 2.06.
	  	No Inconsistent Agreements; Additional Rights	  	16
	 Section 2.07.
	  	Obligation to Suspend Distribution	  	16
	 Section 2.08.
	  	Registration Expenses	  	16
	 Section 2.09.
	  	Indemnification	  	17
	 Section 2.10.
	  	Rule 144	  	19
	
	ARTICLE 3
	MISCELLANEOUS
			
	 Section 3.01.
	  	Term	  	20
	 Section 3.02.
	  	Notices	  	20
	 Section 3.03.
	  	Successors, Assigns and Transferees	  	21
	 Section 3.04.
	  	Governing Law; Service of Process; Consent to Jurisdiction	  	21
	 Section 3.05.
	  	Headings	  	21
	 Section 3.06.
	  	Severability	  	21
	 Section 3.07.
	  	Amendment; Waiver	  	22
	 Section 3.08.
	  	Counterparts	  	22
	 Section 3.09.
	  	Attorney-In-Fact	  	22

 AMENDED AND RESTATED REGISTRATION RIGHTS AGREEMENT 
 THIS AMENDED AND RESTATED REGISTRATION RIGHTS AGREEMENT (this
“Agreement’) is entered into as of the     th day of
                    , 200  , by and among [BVI NEWCO], a company incorporated under the laws of the British Virgin Islands
(the “Company”), and successor to the rights and obligations of CHINA HOLDINGS ACQUISITION CORP., a Delaware corporation (the “CHAC”), and the Persons listed on Schedule I hereto (each, a
“Founder”). 
 WHEREAS, on the date hereof, CHAC merged with and into the Company, with the Company
surviving the merger (the “Merger”); 
 WHEREAS, pursuant to the Merger, the Company assumed all rights and
obligations of CHAC, including CHAC’s rights and obligations under the Registration Rights Agreement, dated as of November 15, 2008, by and among CHAC and the Founders; 
 WHEREAS, in connection with the Merger, the Founders exchanged 3,200,000 shares of the CHAC’s common stock, par value $0.001 per share (the
“CHAC Common Stock”), collectively owned by the Founders for 3,200,000 new founders’ warrants (the “New Founders’ Warrants”), each to purchase one share of the Company’s common stock
(the “Company Common Stock” and together with the CHAC Common Stock, the “Common Stock”), exercisable upon satisfaction of a stock price target; 
 WHEREAS, after the Merger, the Founders collectively beneficially own 3,200,000 New Founder’s Warrants and 2,750,000 initial founders’
warrants, each to purchase one share of Common Stock (the “Initial Founders’ Warrants” and together with the New Founders’ Warrants and the shares of Common Stock issuable upon exercise of the New
Founders’ Warrants and the Initial Founders’ Warrants and other securities of CHAC or the Company held by the Founders, the “Founders’ Securities”), all of which were acquired by private placement
and are currently held of record by certain of the Founders; 
 WHEREAS, the Founders may in certain circumstances and subject to certain
transfer and other restrictions transfer (or cause to be transferred) to Permitted Transferees (as defined below) some or all of the Founders’ Securities; 
 WHEREAS, the Founders and the Company desire to enter into this Agreement to provide the Founders with certain rights relating to the registration of the Founders’ Securities, and to provide for any Permitted
Transferees who receive Founders’ Securities from time to time with the ability to accede to this agreement; 
 NOW, THEREFORE, in
consideration of the foregoing and the mutual promises, covenants and agreements of the parties hereto, and for other good and valuable consideration the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

  

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 ARTICLE 1 
 DEFINITIONS 
 Section 1.01. Defined Terms. As used in this Agreement, the following terms shall
have the following meanings: 
 “Adverse Disclosure” means public disclosure of material non-public information,
which disclosure, in the good faith judgment of the chief executive officer or principal financial officer of the Company after consultation with counsel to the Company, (i) would be required to be made in any Registration Statement or
prospectus in order for the applicable Registration Statement or prospectus not to contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein (in the case of any prospectus and any
preliminary prospectus, in light of the circumstances under which they were made) not misleading, (ii) would not be required to be made at such time if the Registration Statement were not being filed and (iii) the Company has a bona
fide business purpose for not publicly making it. 
 “Agreement” has the meaning set forth in the preamble
hereto. 
 “business day” means any day, except a Saturday, Sunday or legal holiday on which the banking institutions
in the City of New York are authorized or obligated by law or executive order to close. 
 “CHAC” has the meaning set
forth in the preamble hereto. 
 “CHAC Common Stock” has the meaning set forth in the recitals. 
 “Common Stock” has the meaning set forth in the recitals. 
 “Company” has the meaning set forth in the preamble and shall include the Company’s successors by merger, acquisition,
reorganization or otherwise. 
 “Company Common Stock” has the meaning set forth in the recitals. 
 “Demand Registration” has the meaning set forth in Section 2.02(a). 
 “Exchange Act” means the Securities Exchange Act of 1934, as amended, and any successor thereto, and any rules and regulations
promulgated thereunder, all as the same shall be in effect from time to time. 
 “Founder” has the meaning set forth
in the preamble hereto. 
 “holder” or “holders” means any holder or holders of Registrable
Securities who is a party hereto or who otherwise agrees in writing to be bound by the provisions of this Agreement pursuant to Section 3.03. 
 “Incidental Registration” has the meaning set forth in Section 2.03(a). 
  

 2 

 “Initial Business Combination” means the acquisition by CHAC, through a merger,
stock exchange, asset acquisition, reorganization or similar business combination or contractual arrangements, of one or more businesses or assets. For purposes hereof, the Initial Business Combination occurred on the date hereof. 
 “Loss” has the meaning set forth in Section 2.09(a). 
 “Merger” has the meaning set forth in the recitals. 
 “NASD” means the National Association of Securities Dealers, Inc. 
 “New Founders’ Warrants” has the meaning set forth in the recitals. 
 “Permitted Transferees” means (i) an entity’s beneficiaries upon its liquidation, (ii) relatives and trusts for
estate planning purposes, (iii) a person who becomes the transferee by virtue of the laws of descent and distribution upon death, (iv) a person who become the transferee pursuant to a qualified domestic relations order, (v) officers,
directors and employees and persons affiliated with the Company’s founders or (vi) a person who becomes the transferee by private sales with respect to up to 33% of the existing stockholders’ common stock made at or prior to the
consummation of a business combination at prices no greater than the price at which the shares were originally purchased, in each case where the transferee agrees to the terms of the escrow agreement. 
 “Person” shall be construed as broadly as possible and shall include an individual, corporation, association, partnership
(including a limited liability partnership or a limited liability limited partnership), limited liability company, estate, trust, joint venture, unincorporated organization or a government or any department, agency or political subdivision thereof.

 “prospectus” means the prospectus included in any Registration Statement, all amendments and supplements to such
prospectus and all material incorporated by reference in such prospectus. 
 “Registrable Securities” means the New
Founders’ Warrants, the Initial Founders’ Warrants, the shares of Common Stock issuable upon exercise of the New Founders’ Warrants, the shares of Common Stock issuable upon exercise of the Initial Founders’ Warrants, in each
case after their respective Release Dates, and any other shares of Common Stock or other securities of CHAC or the Company acquired by a Founder at anytime; provided, however, that any of the foregoing securities shall cease to be Registrable
Securities to the extent that (i) a Registration Statement with respect to their sale has been declared effective under the Securities Act and they have been sold, transferred, disposed of or exchanged pursuant to such Registration Statement,
(ii) they have been otherwise transferred pursuant to Rule 144 under the Securities Act (or any similar rule or regulation then in force), new certificates for them not bearing a legend restricting transfer under the Securities Act shall have
been delivered by the Company and they may be publicly resold without volume or method of sale restrictions without registration under the Securities Act or (iii) they have ceased to be outstanding. For purposes of this Agreement, the shares of
Common Stock issuable upon exercise of the New Founders’ Warrants, the shares of Common Stock issuable upon exercise of the Initial Founders’ Warrants 

  

 3 

 
and any other shares of Common Stock acquired by the Founders shall together constitute one “class” of Registrable Securities and the New
Founders’ Warrants, Initial Founders’ Warrants and any other securities (other than Common Stock) of the Company acquired by the Founders shall constitute another class of Registrable Securities, provided that no Registrable
Securities shall be part of the relevant class until the Release Date for such Registrable Securities. A “percentage” (or a “majority”) of the Registrable Securities or any class thereof (or, where applicable, of any other
securities) shall be determined based on the total number of such securities outstanding at the relevant time. 
 “registration” means a registration of the Company’s securities for sale to the public under a Registration Statement. 
 “Registration Statement” means any registration statement (other than a registration statement on Form S-4 or Form S-8 or their successors or any registration statement covering only securities
proposed to be issued in exchange for securities or assets of another entity) of the Company for a public offering of the Company’s securities filed with, or to be filed with, the SEC under the rules and regulations promulgated under the
Securities Act, including the prospectus, amendments and supplements to such registration statement, including post-effective amendments, and all exhibits and all material incorporated by reference in such registration statement. 
 “Release Date” means, with respect to the New Founders’ Warrants and the shares of Common Stock issuable on the exercise of
them, the date that is six (6) months after the consummation of the Initial Business Combination, and with respect to the Initial Founders’ Warrants and the shares of Common Stock issuable on exercise of them, the date that is ninety
(90) days after consummation of the Initial Business Combination. 
 “Released Registrable Securities” shall
mean, as of any date, the Registrable Securities with respect to which the Release Date has occurred. 
 “SEC” means
the Securities and Exchange Commission. 
 “Securities Act” means the Securities Act of 1933, as amended, and any
successor thereto, and any rules and regulations promulgated thereunder, all as the same shall be in effect from time to time. 
 “Underwritten Offering” means a registration in which securities of the Company are sold to an underwriter or underwriters on a firm commitment basis for reoffering to the public. 
 “Unreleased Registrable Securities” shall mean, as of any date, any Registrable Securities with respect to which the Release Date
has not yet occurred. 
 Section 1.02. General Interpretive Principles. Whenever used in this Agreement, except as otherwise
expressly provided or unless the context otherwise requires, any noun or pronoun shall be deemed to include the plural as well as the singular and to cover all genders. The name assigned to this Agreement and the section captions used herein are for
convenience of reference only and shall not be construed to affect the meaning, construction or 
  

 4 

 
effect hereof. Unless otherwise specified, the terms “hereof,” “herein,” “hereunder” and similar terms refer to this Agreement
as a whole (including the exhibits, schedules and disclosure statements hereto), and references herein to Sections refer to Sections of this Agreement. 
 ARTICLE 2 
 REGISTRATION RIGHTS 
 Section 2.01. Registrations on Form S-3. 
 (a) Filing. The holders of Registrable Securities may
at any time and from time to time on or after the applicable Release Date, request in writing that the Company register the resale of any or all of such Registrable Securities on Form S-3 or a successor or other appropriate, similar short-form
registration which may be available at such time (“Form S-3”); provided, however, that the Company shall not be obligated to effect such a request if the Company has within the preceding twelve (12) months effected a
registration on Form S-3. Upon receipt of such written request, the Company will promptly give written notice of the proposed registration to all other holders of Released Registrable Securities and holders of Registrable Securities that, in the
sole discretion of the Company, are likely to become Released Registrable Securities prior to the effectiveness of such Registration Statement, and, as soon as practicable thereafter, effect the registration of all or such portion of such
holder’s or holders’ Released Registrable Securities and Registrable Securities that, in the sole discretion of the Company, are likely to become Released Registrable Securities prior to the effectiveness of such Registration Statement as
are specified in such request, together with all or such portion of the Released Registrable Securities and Registrable Securities that, in the sole discretion of the Company, are likely to become Released Registrable Securities prior to the
effectiveness of such Registration Statement of any other holder or holders joining in such request as are specified in a written request given within fifteen (15) business days after receipt of such written notice from the Company;
provided, however, that the Company shall not be obligated to effect any such registration pursuant to this Section 2.01: (i) if Form S-3 is not available for such offering; or (ii) if the holders of the Released Registrable
Securities and holders of Registrable Securities that, in the sole discretion of the Company, are likely to become Released Registrable Securities prior to the effectiveness of such Registration Statement, together with the holders of any other
securities of the Company entitled to inclusion in such registration, propose to sell Released Registrable Securities and Registrable Securities that, in the sole discretion of the Company, are likely to become Released Registrable Securities prior
to the effectiveness of such Registration Statement at an aggregate offering price to the public of less than $500,000. Registrations effected pursuant to this Section 2.01 shall not be counted as Demand Registrations effected pursuant to
Section 2.02. 
 (b) Suspension of Registration. If the filing, initial effectiveness or continued use of Form S-3 at any time would
require the Company to make an Adverse Disclosure or would require the inclusion in such Form S-3 of financial statements that are unavailable to the Company for reasons beyond the Company’s control, the Company may, upon giving prompt written
notice of such action to the holders, delay the filing or initial effectiveness of, or suspend use of, the Form S-3 for the shortest period of time determined in good faith by the Company to be necessary for such purpose. In the event the Company
exercises its rights under the preceding sentence, the holders agree to suspend, immediately upon their receipt of the notice referred to 

  

 5 

 
above, their use of the prospectus relating to the registration on such Form S-3 in connection with any sale or offer to sell Registrable Securities and
agree not to disclose to any other Person the fact that the Company has exercised such rights or any related facts. The Company shall immediately notify the holders upon the expiration of any period during which it exercised its rights under this
Section 2.01(b). 
 Section 2.02. Demand Registrations. 
 (a) Demand by Holders. (i) At any time and from time on or after the date that is thirty (30) days prior to applicable Release Date, the holders
of not less than a majority-in-interest of any class or classes of the Registrable Securities may make a total of three (3) written requests to the Company for registration of all or part of each such class of Registrable Securities held by
those holders, provided that the estimated market value of the Registrable Securities of all classes to be so registered thereunder is at least $500,000 in the aggregate; and provided further that any Registration Statement for
Unreleased Registrable Securities may not become effective until after such Registrable Securities have become Released Registrable Securities. Any such requested registration shall be referred to as a “Demand Registration.”
Each request for a Demand Registration shall specify the class(es) and aggregate amount(s) of Registrable Securities to be registered and the intended methods of distribution thereof. 
 (ii) Within five (5) business days following receipt of any request for a Demand Registration, the Company shall deliver written
notice of such request to all other holders of Registrable Securities of the class or classes to be registered. Thereafter, the Company shall include in such Demand Registration any additional Registrable Securities of each such class which the
holder or holders thereof have requested in writing be included in such Demand Registration, provided that all such requests have been received by the Company within ten (10) business days of the Company’s having sent the applicable
notice to such holder or holders (each such holder, including the Registrable Securities in such Demand Registration, a “Demanding Holder”). All such requests shall specify the class and aggregate amount of Registrable
Securities to be registered and the intended method of distribution. The Company may include in such registration additional securities of the class or classes of the Registrable Securities to be registered thereunder, including securities to be
sold for the Company’s own account or for the account of Persons who are not holders of Registrable Securities. 
 (iii)
As promptly as practicable, and, in any event, within sixty (60) days following receipt of a request for a Demand Registration, the Company shall file a Registration Statement relating to such Demand Registration and thereafter the Company
shall use its reasonable best efforts to cause such Registration Statement to be declared effective under the Securities Act. 
 (b)
Limitation on Demand Registrations. In no event shall the Company be required to effect more than three (3) Demand Registrations. In addition, the Company shall not be required to file a Registration Statement for a Demand Registration at any
time during the 12-month period following the effective date of another Registration Statement filed pursuant to this Section 2.02. 
  

 6 

 (c) Demand Withdrawal. A holder may withdraw its Registrable Securities from a Demand Registration at any
time. If all holders withdraw, or holders withdraw Registrable Securities from a Demand Registration in such amounts that the Registrable Securities of all classes that remain covered by the relevant Registration Statement have an estimated market
value of less than $500,000, the Company shall cease all efforts to secure registration and such registration shall be deemed a Demand Registration for purposes of Section 2.02(b) unless the withdrawal is based on the reasonable determination
of the Demanding Holders that there has been, since the date of such request, a material adverse change in the business or prospects of the Company or in general market conditions and the Demanding Holders who requested such registration shall have
paid or reimbursed the Company for all of the reasonable out-of-pocket fees and expenses incurred by the Company in connection with the withdrawn registration. 
 (d) Effective Registration. The Company shall be deemed to have effected a Demand Registration if the applicable Registration Statement is declared effective by the SEC and remains effective for not less than 180 days
(or such shorter period as will terminate when all Registrable Securities covered by such Registration Statement have been sold or withdrawn) and the Company has complied with all of its obligations under this Agreement with respect thereto;
provided, however, that if, after such Registration Statement has been declared effective, the offering of Registrable Securities pursuant to a Demand Registration is interfered with by any stop order or injunction of the SEC or any other
governmental agency or court, the Registration Statement with respect to such Demand Registration will be deemed not to have been declared effective, unless and until, (i) such stop order or injunction is removed, rescinded or otherwise
terminated, and (ii) holders of a majority-in-interest of the relevant class or classes of Registrable Securities thereafter elect to continue the offering; provide, further, that the Company shall not be obligated to file a second
Registration Statement until a Registration Statement that has been filed is counted as a Demand Registration or is terminated. 
 (e)
Suspension of Registration. If the filing, initial effectiveness or continued use of a Registration Statement in respect of a Demand Registration at any time would require the Company to make an Adverse Disclosure or would require the inclusion in
such Registration Statement of financial statements that are unavailable to the Company for reasons beyond the Company’s control, the Company may, upon giving prompt written notice of such action to the holders, delay the filing or initial
effectiveness of, or suspend use of, such Registration Statement for the shortest possible period of time determined in good faith by the Company to be necessary for such purpose. In the event the Company exercises its rights under the preceding
sentence, the holders agree to suspend, immediately upon their receipt of the notice referred to above, their use of the prospectus relating to the Demand Registration in connection with any sale or offer to sell Registrable Securities. The Company
shall immediately notify the holders of the expiration of any period during which it exercised its rights under this Section 2.02(e). 
 (f) Underwritten Offering. If the holders of not less than a majority of the Registrable Securities of any class that is included in any offering pursuant to a Demand Registration so elect, the offering of all of the Registrable Securities
of that class shall be in the form of an Underwritten Offering and the right of any holder to include Registrable Securities of that class in the Demand Registration shall be conditioned upon such holder’s participation in the Underwritten
Offering. The holders of a majority of the class of Registrable Securities included 

  

 7 

 
in such Underwritten Offering shall, in consultation with the Company, have the right to select the managing underwriter or underwriters for the offering,
subject to the right of the Company should it so choose to select one co-managing underwriter reasonably acceptable to such holders. All holders proposing to distribute their Registrable Securities through such an underwriting shall enter into an
underwriting agreement in customary form with the underwriter(s) selected for such underwriting. 
 (g) Reduction of Offering. If the
managing underwriter or underwriters of a proposed Underwritten Offering of a class of Registrable Securities included in a Demand Registration, inform the holders of such Registrable Securities and the Company in writing that, in its or their
opinion, the dollar amount or number of securities of such class requested to be included in such Demand Registration, including securities of the Company for its own account or for the account of other Persons who are not holders of Registrable
Securities that the Company desires to sell and any securities as to which registration has been requested pursuant to written piggy-back registration rights (as described in Section 2.03 below), exceeds the maximum dollar amount or maximum
number of securities, as applicable, that can be sold in such offering without being likely to have a significant adverse effect on the price, timing or distribution of the class of securities offered or the market for the class of securities
offered (such maximum dollar amount or maximum number of securities, as applicable, the “Maximum Number of Securities”), then the Company shall include in such registration: 
 (i) first, Registrable Securities as to which Demand Registration has been requested by the Demanding Holders, in an amount up to but not
exceeding the Maximum Number of Securities (allocated pro rata among the holders who have requested participation in the Demand Registration, based, for each such holder, on the percentage derived by dividing (x) the number of
Registrable Securities of such class which such holder has requested to include in such Demand Registration by (y) the aggregate number of Registrable Securities of such class which all such holders have requested to include) (such proportion
is referred to herein as “Pro Rata”) that can be sold without exceeding the Maximum Number of Securities; 
 (ii) second, to the extent that the Maximum Number of Securities has not been reached under the foregoing clause (i), securities that the Company desires to sell that can be sold without exceeding the Maximum Number of Securities;

 (iii) third, to the extent that the Maximum Number of Securities has not been reached under the foregoing clauses
(i) and (ii), securities for the account of other Persons that the Company is obligated to register pursuant to written contractual arrangements with such Persons, Pro Rata, and that can be sold without exceeding the Maximum Number of
Securities; and 
 (iv) fourth, to the extent that the Maximum Number of Securities have not been reached under the foregoing
clauses (i), (ii), and (iii), securities that other security holders of the Company desire to sell that can be sold without exceeding the Maximum Number of Securities. 
  

 8 

 To the extent that any Registrable Securities requested to be registered are excluded pursuant to the
foregoing provisions, the holders shall have the right to one additional Demand Registration under this Section 2.02. 
 (h)
Registration Statement Form. Registrations under this Section 2.02 shall be on such appropriate registration form of the SEC (i) as shall be selected by the Company and as shall be reasonably acceptable to the holders of a
majority-in-interest of each class of Registrable Securities requesting participation in the Demand Registration and (ii) as shall permit the disposition of the Registrable Securities in accordance with the intended method or methods of
disposition specified in the applicable holders’ requests for such registration. Notwithstanding the foregoing, if, pursuant to a Demand Registration, (x) the Company proposes to effect registration by filing a Registration Statement on
Form S-3, (y) such registration is in connection with an Underwritten Offering and (z) the managing underwriter or underwriters shall advise the Company in writing that, in its or their opinion, the use of another form of registration
statement (or the inclusion, rather than the incorporation by reference, of information in the prospectus related to a Registration Statement on Form S-3) is of material importance to the success of such proposed offering, then such registration
shall be effected on such other form (or such information shall be so included in such prospectus). 
 Section 2.03. Incidental
Registrations (“Piggy-Back” Registrations). 
 (a) Participation. (i) If at any time on or after the date that is thirty
(30) days prior to the first Release Date, the Company proposes to file a Registration Statement with respect to any offering of its securities for its own account or for the account of any holders of its securities (or by the Company and by
security holders of the Company, including, without limitation, pursuant to Section 2.02 hereof), other than (A) a registration of securities relating solely to an offering and sale to employees or directors of the Company pursuant to any
employee stock plan or other employee benefit plan arrangement, (B) a registration on Form S-4 or S-8 or any successor form to such forms or other appropriate form, (C) an exchange offer or offering of securities solely to the
Company’s existing shareholders, (D) an offering of debt that is convertible into equity securities, (E) a dividend reinvestment plan, or (F) solely in connection with a merger, consolidation or non-capital raising bona
fide business transaction, then, as soon as practicable (but in no event less than ten (10) business days prior to the proposed date of filing such Registration Statement), the Company shall give written notice of such proposed filing to
all holders of Registrable Securities, which notice shall describe the amount and class of securities to be included in such offering, the intended method(s) of distribution, and the name of the proposed managing underwriter or underwriters, if any,
of the offering, and such notice shall offer the holders of such Registrable Securities the opportunity to register such number of Registrable Securities as each such holder may request in writing (an “Incidental Registration”).
Subject to Section 2.03(b), the Company shall include in such Registration Statement all such Released Registrable Securities and Registrable Securities that, in the sole discretion of the Company, are likely to become Released Registrable
Securities prior to the effectiveness of such Registration Statement requested to be included therein within five (5) business days after the receipt by such holder of any such notice, on the same terms and conditions as any similar securities
of the Company. If at any time after giving written notice of its intention to register any securities and prior to the effective date of the Registration Statement filed in connection with such registration, the Company shall determine for any
reason not to 

  

 9 

 
register or to delay registration of such securities, the Company may, at its election, give written notice of such determination to each holder of Released
Registrable Securities and Registrable Securities that, in the sole discretion of the Company, are likely to become Released Registrable Securities prior to the effectiveness of such Registration Statement and, (x) in the case of a
determination not to register, shall be relieved of its. obligation to register any Released Registrable Securities and Registrable Securities that, in the sole discretion of the Company, are likely to become Released Registrable Securities prior to
the effectiveness of such Registration Statement in connection with such registration, and (y) in the case of a determination to delay registering, shall be permitted to delay registering any Released Registrable Securities and Registrable
Securities that, in the sole discretion of the Company, are likely to become Released Registrable Securities prior to the effectiveness of such Registration Statement for the same period as the delay in registering such other securities. 

(ii) If the offering pursuant to an Incidental Registration is to be an Underwritten Offering, then each holder making a request for
its Released Registrable Securities and Registrable Securities that, in the sole discretion of the Company, are likely to become Released Registrable Securities prior to the effectiveness of such Registration Statement to be included therein must,
and the Company shall use its best efforts to make such arrangements with the underwriters so that each such holder may, participate in such Underwritten Offering on the same terms and conditions as the Company and other Persons selling securities
in such Underwritten Offering. If the offering pursuant to such registration is to be on any other basis, then each holder making a request for an Incidental Registration pursuant to this Section 2.03(a) must participate in such offering on
such basis. 
 (iii) Each holder of Registrable Securities shall be permitted to withdraw all or part of such holder’s
Registrable Securities from an Incidental Registration at any time; 
 (b) Reduction of Incidental Registration. If the managing underwriter
or underwriters of any proposed Underwritten Offering of a class of securities included in an Incidental Registration (or in the case of an Incidental Registration not being underwritten, the Company) informs the holders of Released Registrable
Securities and holders of Registrable Securities that, in the sole discretion of the Company, are likely to become Released Registrable Securities prior to the effectiveness of such Registration Statement of any class sought to be included in such
registration in writing that, in its or their opinion, the dollar amount or number or kind of securities which the Company and such holders and any other Persons intend to include in such offering exceeds the Maximum Number of Securities, then the
securities of each class to be included in such registration shall be allocated as follows: 
 (i) if the registration is
undertaken for the Company’s account: (x) first, the securities that the Company desires to sell that can be sold without exceeding the Maximum Number of Securities and (y) second, to the extent that the Maximum Number of Securities
has not been reached under the foregoing clause (x), securities, if any, including the Released Registrable Securities and Registrable Securities that, in the sole discretion of the Company, are likely to become Released Registrable Securities prior
to the effectiveness of such Registration Statement, as to which registration has 

  

 10 

 
been requested pursuant to written contractual incidental registration rights of security holders (including this Agreement) that can be sold without
exceeding the Maximum Number of Securities, Pro Rata; 
 (ii) if the registration is a demand registration undertaken by
Persons with demand rights pursuant to a written contractual arrangement other than this Agreement, (w) first, securities for the account of the demanding Persons that can be sold without exceeding the Maximum Number of Securities,
(x) second, to the extent that the Maximum Number of Securities has not been reached under the foregoing clause (w), securities that the Company desires to sell and that can be sold without exceeding the Maximum Number of Securities,
(y) third, to the extent that the Maximum Number of Securities has not been reached under the foregoing clauses (w) and (x), securities (including the Released Registrable Securities and Registrable Securities that, in the sole discretion
of the Company, are likely to become Released Registrable Securities prior to the effectiveness of such Registration Statement) as to which registration has been requested pursuant to a written contractual incidental registration rights of security
holders (including this Agreement) that can be sold without exceeding the Maximum Number of Securities, Pro Rata, and (z) fourth, to the extent that the Maximum Number of Securities have not been reached under the foregoing clauses (w),
(x) and (y), securities that other security holders desire to sell without exceeding the Maximum Number of Securities. 
 Section 2.04. Registration Procedures. 
 (a) In connection with the Company’s registration obligations in
this Agreement, the Company will, subject to the limitations set forth herein, use its reasonable best efforts to effect, and once effective to keep such Registration Statement effective so as to permit the sale of the applicable Registrable
Securities in accordance with the intended method or methods of distribution thereof as expeditiously as reasonably practicable, and in connection therewith the Company will: 
 (i) before filing a Registration Statement or prospectus, or any amendments or supplements thereto and in connection therewith, furnish to
the underwriter or underwriters, if any, and to the holders of the Registrable Securities included in such registration, and such holders’ legal counsel, copies of all documents prepared to be filed, which documents will be subject to the
review of such underwriters and such holders and their counsel and, except in the case of a registration under Section 2.03, will not file any Registration Statement or prospectus or amendments or supplements thereto to which a majority of such
holders or the underwriter or underwriters, if any, shall reasonably object; 
 (ii) prepare and file with the SEC such
amendments or supplements to the applicable Registration Statement or prospectus as may be (A) reasonably requested by any participating holder (to the extent such request relates to information relating to such holder), (B) necessary to
keep such registration effective for the period of time required by this Agreement or (C) reasonably requested by the holders of a majority of any class of the participating Registrable Securities; 
  

 11 

 (iii) notify the selling holders of Registrable Securities and the managing underwriter
or underwriters, if any, and (if requested) confirm such advice in writing, as soon as reasonably practicable after notice thereof is received by the Company (A) when the applicable Registration Statement or any amendment thereto has been filed
or becomes effective and when the applicable prospectus or any amendment or supplement thereto has been filed, (B) of any written comments by the SEC or any request by the SEC or any other federal or state governmental authority for amendments
or supplements to such Registration Statement or prospectus or for additional information, (C) of the issuance by the SEC or any other governmental agency or court of any stop order suspending the effectiveness of such Registration Statement or
any order preventing or suspending the use of any preliminary or final prospectus or the initiation or threat of any proceedings for such purposes and (D) of the receipt by the Company of any notification with respect to the suspension of the
qualification of the Registrable Securities for offering or sale in any jurisdiction or the initiation or threat of any proceeding for such purpose; 
 (iv) promptly notify each selling holder of Registrable Securities and the managing underwriter or underwriters, if any, when the Company becomes aware of the happening of any event as a result of which the applicable
Registration Statement or prospectus (as then in effect) contains any untrue statement of a material fact or omits to state a material fact necessary to make the statements therein (in the case of the prospectus and any preliminary prospectus, in
light of the circumstances under which they were made) not misleading or, if for any other reason it shall be necessary to amend or supplement such Registration Statement or prospectus in order to comply with the Securities Act and, in either case
as promptly as reasonably practicable thereafter, prepare and file with the SEC an amendment or supplement to such Registration Statement or prospectus which will correct such statement or omission or effect such compliance; 
 (v) make every reasonable effort to prevent or obtain at the earliest possible moment the withdrawal of any stop order with respect to the
applicable Registration Statement or other order suspending the use of any preliminary or final prospectus; 
 (vi) promptly
incorporate in a prospectus supplement or post-effective amendment to the applicable Registration Statement such information as the managing underwriter or underwriters, if any, or the holders of a majority of the Registrable Securities of the class
being sold agree should be included therein relating to the plan of distribution with respect to such Registrable Securities; and make all required filings of such prospectus supplement or post-effective amendment as soon as reasonably practicable
after being notified of the matters to be incorporated in such prospectus supplement or post-effective amendment; 
 (vii)
furnish to each selling holder of Registrable Securities and each managing underwriter, if any, without charge, as many conformed copies as such holder or managing underwriter may reasonably request of the applicable Registration Statement;

  

 12 

 (viii) deliver to each selling holder of Registrable Securities and each managing
underwriter, if any, without charge, as many copies of the applicable prospectus (including each preliminary prospectus) as such holder or managing underwriter may reasonably request (its being understood that the Company consents to the use of the
prospectus by each of the selling holders of Registrable Securities and the underwriter or underwriters, if any, in connection with the offering and sale of the Registrable Securities covered by the prospectus) and such other documents as such
selling holder or managing underwriter may reasonably request in order to facilitate the disposition of the Registrable Securities by such holder or underwriter; 
 (ix) on or prior to the date on which the applicable Registration Statement is declared effective, use its reasonable best efforts to
register or qualify such Registrable Securities for offer and sale under the securities or “Blue Sky” laws of each state and other jurisdiction of the United States, as any such selling holder or underwriter, if any, or their respective
counsel reasonably requests in writing, and do any and all other acts or things reasonably necessary or advisable to keep such registration or qualification in effect so as to permit the commencement and continuance of sales and dealings in such
jurisdictions for as long as may be necessary to complete the distribution of the Registrable Securities covered by the Registration Statement; provided, however, that the Company will not be required to qualify generally to do business in
any jurisdiction where it is not then so qualified or to take any action which would subject it to taxation or general service of process in any such jurisdiction where it is not then so subject; 
 (x) cooperate with the selling holders of Registrable Securities and the managing underwriter, underwriters or agent, if any, to
facilitate the timely preparation and delivery of certificates representing Registrable Securities to be sold and not bearing any restrictive legends; 
 (xi) not later than the effective date of the applicable Registration Statement, provide a CUSIP number for all Registrable Securities and provide the applicable transfer agent with printed certificates for the
Registrable Securities which certificates shall be in a form eligible for deposit with The Depository Trust Company; 
 (xii)
obtain for delivery to the holders of each class of Registrable Securities being registered and to the underwriter or underwriters, if any, an opinion or opinions from counsel for the Company dated the effective date of the Registration Statement
or, in the event of an Underwritten Offering, the date of the closing under the underwriting agreement, in customary form, scope and substance, at a minimum to the effect that the Registration Statement has been declared effective and that no stop
order is in effect, which counsel and opinions shall be reasonably satisfactory to a majority of the holders of each such class and underwriter or underwriters, if any, and their respective counsel; 
 (xiii) in the case of an Underwritten Offering, obtain for delivery to the Company and the underwriter or underwriters, if any, with
copies to the holders of Registrable Securities included in such registration, such cold comfort letter(s) from the Company’s independent registered public accounting firm in customary form and covering such matters of the type customarily
covered by cold comfort letters as the managing underwriter or underwriters reasonably request; 
  

 13 

 (xiv) cooperate with each seller of Registrable Securities and each underwriter or agent,
if any, participating in the disposition of such Registrable Securities and their respective counsel in connection with any filings required to be made with FINRA; 
 (xv) use its reasonable best efforts to comply with all applicable rules and regulations of the SEC and make generally available to its
security holders, as soon as reasonably practicable (but not more than 15 months) after the effective date of the applicable Registration Statement, an earnings statement satisfying the provisions of Section 11(a) of the Securities Act and the
rules and regulations promulgated thereunder; 
 (xvi) provide and cause to be maintained a transfer agent and registrar for
all Registrable Securities covered by the applicable Registration Statement from and after a date not later than the effective date of such Registration Statement; 
 (xvii) cause all Registrable Securities of a class covered by the applicable Registration Statement to be listed on each securities
exchange on which any of the Company’s securities of such class are then listed or quoted and on each inter-dealer quotation system on which any of the Company’s securities of such class are then quoted; 
 (xviii) make available upon reasonable notice at reasonable times and for reasonable periods for inspection by a representative appointed
by the holders of a majority of the Registrable Securities of each class covered by the applicable Registration Statement, by any managing underwriter or underwriters participating in any disposition to be effected pursuant to such Registration
Statement and by any attorney, accountant or other agent retained by such sellers or any such managing underwriter, all pertinent financial and other records, pertinent corporate documents and properties of the Company, and cause all of the
Company’s officers, directors and employees and the independent public accountants who have certified its financial statements to make themselves available to discuss the business of the Company and to supply all information reasonably
requested by any such seller, underwriter, attorney, accountant or agent in connection with such Registration Statement as shall be necessary to enable them to exercise their due diligence responsibility (subject to the entry by each party referred
to in this clause (xviii) into customary confidentiality agreements in a form reasonably acceptable to the Company); and 
 (xix) in the case of an Underwritten Offering, cause senior executive officers of the Company to participate in customary “road show” presentations that may be reasonably requested by the managing underwriter in any such
Underwritten Offering and otherwise to facilitate, cooperate with, and participate in each proposed offering contemplated herein and customary selling efforts related thereto. 
 (b) The Company may require each selling holder of Registrable Securities as to which any registration is being effected to furnish to the Company such
information regarding 

  

 14 

 
the distribution of such Securities and such other information relating to such holder and its ownership of the applicable Registrable Securities as the
Company may from time to time reasonably request. Each holder of Registrable Securities agrees to furnish such information to the Company and to cooperate with the Company as necessary to enable the Company to comply with the provisions of this
Agreement. The Company shall have the right to exclude any holder that does not comply with the preceding sentence from the applicable registration. 
 Section 2.05. Underwritten Offerings. 
 (a) Underwriting Agreements. If requested by the
underwriters for any Underwritten Offering requested by holders pursuant to Sections 2.01 or 2.02, the Company and the holders of Registrable Securities to be included therein shall enter into an underwriting agreement with such underwriters, such
agreement to be reasonably satisfactory in substance and form to the Company, the holders of a majority-in-interest of each class of the Registrable Securities to be included in such Underwritten Offering and the underwriters, and to contain such
terms and conditions as are generally prevailing in agreements of that type, including, without limitation, indemnities no less favorable to the recipient thereof than those provided in Section 2.09. The holders of any Registrable Securities to
be included in any Underwritten Offering pursuant to Section 2.03 shall enter into such an underwriting agreement at the request of the Company. All of the representations and warranties and the other agreements by and on the part of the
Company to and for the benefit of the underwriters included in any such underwriting agreement shall also be made to and for the benefit of such holders, and any or all of the conditions precedent to the obligations of the underwriters under such
underwriting agreement shall be conditions precedent to the obligations of such holders. No holder shall be required in any such underwriting agreement to make any representations or warranties to or agreements with the Company or the underwriters
other than representations, warranties or agreements regarding such holder, such holder’s Registrable Securities, such holder’s intended method of distribution and any other representations required by law. 
 (b) Price and Underwriting Discounts. In the case of an Underwritten Offering requested by holders pursuant to Sections 2.01 or 2.02, the price,
underwriting discount and other financial terms of the related underwriting agreement for each class of Registrable Securities shall be determined by the holders of a majority of such class of Registrable Securities. In the case of any Underwritten
Offering pursuant to Section 2.03, such price, discount and other terms shall be determined by the Company, subject to the right of the holders to withdraw their request to participate in the registration pursuant to Section 2.03(a)(iii)
after being advised of such price, discount and other terms. 
 (c) Participation in Underwritten Offerings. No Person may participate in an
Underwritten Offering unless such Person (i) agrees to sell such Person’s securities on the basis provided in the underwriting arrangements approved by the Persons entitled to approve such arrangements and (ii) completes and executes
all questionnaires, powers of attorney, indemnities, underwriting agreements and other documents required under the terms of such underwriting arrangements. 
  

 15 

 Section 2.06. No Inconsistent Agreements; Additional Rights. The Company will not
enter into, and is not currently a party to, any agreement that is inconsistent with the rights granted to the holders of Registrable Securities by this Agreement. 
 Section 2.07. Obligation to Suspend Distribution. 
 (a) Each holder of Registrable
Securities agrees by acquisition of such Registrable Securities that, upon receipt of any notice from the Company of the happening of any events of the kind described in Sections 2.04(a)(iii)(C), 2.04(a)(iii)(D)(in any applicable state) or
2.04(a)(iv), such holder will discontinue disposition of its Registrable Securities pursuant to the Registration Statement, in the case of Section 2.04(a)(iv), until the holder receives copies of the supplemented or amended prospectus
contemplated by Section 2.04(a)(iv), or in any case until the holder is advised in writing by the Company that the use of the prospectus may be resumed, and receives copies of any additional or supplemental filings that are incorporated by
reference in the prospectus and, if so directed by the Company, the holder will deliver to the Company (at the Company’s expense) all copies, other than permanent file copies then in such holder’s possession, of the prospectus covering
such Registrable Securities that are current at the time of the receipt of such notice. In the event that the Company shall give any such notice in respect of a Demand Registration, the period during which the applicable Registration Statement is
required to be maintained effective shall be extended by the number of days during the period from and including the date of the giving of such notice to and including the date when each seller of Registrable Securities covered by such Registration
Statement either receives the copies of the supplemented or amended prospectus contemplated by Section 2.04(a)(iv) or is advised in writing by the Company that the use of the prospectus may be resumed. 
 (b) In the case of a resale registration on Form S-3 pursuant to Section 2.01, upon any suspension by the Company, pursuant to a written insider
trading compliance program adopted by the Company’s board of directors, of the ability of all “insiders” covered by such program to transact in the Company’s securities because of the existence of material non-public information,
each holder of Registrable Securities included in any registration shall immediately discontinue disposition of such Registrable Securities pursuant to the Registration Statement covering such Registrable Securities until the restriction on the
ability of “insiders” to transact in the Company’s securities is removed. 
 Section 2.08. Registration Expenses.
(a) The Company shall pay all of the expenses set forth in this paragraph (a) in connection with a registration under this Agreement of Registrable Securities. Such expenses are (i) all registration and filing fees, and any other fees
and expenses associated with filings required to be made with the SEC or the FINRA, (ii) all fees and expenses of compliance with state securities or “Blue Sky” laws, (iii) all printing, duplicating, word processing, messenger,
telephone, facsimile and delivery expenses (including expenses of printing certificates for the Registrable Securities in a form eligible for deposit with The Depository Trust Company and of printing prospectuses), (iv) all fees and
disbursements of counsel for the Company and of all independent certified public accountants of the Company, (v) Securities Act liability insurance or similar insurance if the Company so desires and (vi) all fees and expenses incurred in
connection with the listing of the Registrable Securities on any securities exchange or the quotation of the Registrable Securities on any inter-dealer quotation system. In addition, in all cases the Company shall pay its internal expenses
(including, without 

  

 16 

 
limitation, all salaries and expenses of its officers and employees performing legal or accounting duties), the expense of any audit and the fees and
expenses of any other Persons retained by the Company, including any special experts. In addition, the Company shall pay all reasonable fees and disbursements not to exceed $150,000 of one law firm or other counsel selected by the holders of a
majority of the Registrable Securities being registered. 
 (b) The Company shall not be required to pay any other costs or expenses in the
course of the transactions contemplated hereby, including underwriting discounts and commissions and transfer taxes attributable to the sale of Registrable Securities and the fees and expenses of any counsel to any holder of Registrable Securities
other than as provided pursuant to the last sentence of the preceding paragraph (a), or of counsel to the underwriters. 
 Section 2.09. Indemnification. 
 (a) Indemnification by the Company. The Company agrees to indemnify and hold
harmless, to the full extent permitted by law, each holder of Registrable Securities and their respective officers, directors, employees, advisors and agents and each Person who controls (within the meaning of the Securities Act or the Exchange Act)
such Persons from and against any and all losses, claims, damages, liabilities (or actions or proceedings in respect thereof, whether or not such indemnified party is a party thereto) and expenses (including reasonable costs of investigation and
legal expenses), joint or several (each, a “Loss” and collectively “Losses”), arising out of or based upon (i) any untrue or alleged untrue statement of a material fact contained in any
Registration Statement under which such Registrable Securities were registered under the Securities Act (including any final, preliminary or summary prospectus contained therein or any amendment thereof or supplement thereto or any documents
incorporated by reference therein) or (ii) any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein (in the case of a prospectus or preliminary prospectus, in
light of the circumstances under which they were made) not misleading; provided, however, that the Company shall not be liable to any indemnified party in any such case to the extent that any such Loss arises out of or is based upon an untrue
statement or alleged untrue statement or omission or alleged omission made in any such Registration Statement in reliance upon and in conformity with written information furnished to the Company by such holder expressly for use in the preparation
thereof; and provided, further, that the Company will not be liable to any indemnified party in any case to the extent that any such Loss arises out of or is based upon any untrue statement or alleged untrue statement or omission or alleged
omission made in any final, preliminary or summary prospectus if such untrue statement or alleged untrue statement or omission or alleged omission is corrected in an amendment or supplement to such prospectus which has been made available to the
holders and the relevant holder of Registrable Securities fails to deliver such prospectus as so amended or supplemented, if such delivery is required under applicable law or the applicable rules of any securities exchange, prior to or concurrently
with the sales of the Registrable Securities to the Person asserting such loss, claim, damage, liability or expense. This indemnity shall be in addition to any liability the Company may otherwise have. 
 (b) Indemnification by the Holders. Each selling holder of Registrable Securities agrees (severally and not jointly) to indemnify and hold harmless, to
the full extent permitted by law, the Company, its directors, officers, employees and agents and each Person 

  

 17 

 
who controls the Company (within the meaning of the Securities Act and the Exchange Act) from and against any Losses resulting from any untrue statement of a
material fact or any omission of a material fact required to be stated in the Registration Statement under which such Registrable Securities were registered under the Securities Act (including any final, preliminary or summary prospectus contained
therein or any amendment thereof or supplement thereto or any documents incorporated by reference therein), or necessary to make the statements therein (in the case of a prospectus or preliminary prospectus, in light of the circumstances under which
they were made) not misleading, to the extent, but only to the extent, that such untrue statement or omission had been contained in any information furnished in writing by such selling holder to the Company specifically for inclusion in such
Registration Statement and was not corrected in a subsequent writing prior to or concurrently with the sale of the Registrable Securities to the Person asserting such loss, claim, damage, liability or expense. This indemnity shall be in addition to
any liability such holder may otherwise have. Such indemnity shall remain in full force and effect regardless of any investigation made by or on behalf of the Company or any indemnified party. In no event shall the liability of any selling holder of
Registrable Securities hereunder be greater in amount than the dollar amount of the proceeds received by such holder under the sale of the Registrable Securities giving rise to such indemnification obligation. 
 (c) Conduct of Indemnification Proceedings. Any Person entitled to indemnification hereunder will (i) give prompt written notice to the indemnifying
party of any claim with respect to which it seeks indemnification (provided, however, that any delay or failure to so notify the indemnifying party shall relieve the indemnifying party of its obligations hereunder only to the extent,
if at all, that it is actually and materially prejudiced by reason of such delay or failure) and (ii) permit such indemnifying party to assume the defense of such claim with counsel reasonably satisfactory to the indemnified party;
provided, however, that any Person entitled to indemnification hereunder shall have the right to select and employ separate counsel and to participate in the defense of such claim, but the fees and expenses of such counsel shall be at
the expense of such Person unless (A) the indemnifying party has agreed in writing to pay such fees or expenses, (B) the indemnifying party shall have failed to assume the defense of such claim within a reasonable time after having
received notice of such claim from the Person entitled to indemnification hereunder and to employ counsel reasonably satisfactory to such Person, (C) in the reasonable judgment of any such Person, based upon advice of its counsel, a conflict of
interest exists between such Person and the indemnifying party with respect to such claims or (D) based on advice of counsel, the indemnified party has reasonably concluded that there may be legal defenses available to it or other indemnified
parties that are different from or in addition to those available to the indemnifying party such that the indemnifying party’s assumption of defense of the indemnified party would be likely to adversely affect the defense of the indemnified
party (in which case, if the Person notifies the indemnifying party in writing that such Person elects to employ separate counsel at the expense of the indemnifying party, the indemnifying party shall not have the right to assume the defense of such
claim on behalf of such Person). If such defense is not assumed by the indemnifying party, the indemnifying party will not be subject to any liability for any settlement made without its consent, but such consent may not be unreasonably withheld;
provided, however, that an indemnifying party shall not be required to consent to any settlement involving the imposition of equitable remedies or involving the imposition of any material obligations on such indemnifying party other
than financial obligations for which such indemnified party will be indemnified hereunder. If the indemnifying party assumes the defense, the indemnifying party shall have the right to settle such action 

  

 18 

 
without the consent of the indemnified party; provided, however, that the indemnifying party shall be required to obtain such consent (which consent
shall not be unreasonably withheld) if the settlement includes any admission of wrongdoing on the part of the indemnified party or any restriction on the indemnified party or its officers or directors. No indemnifying party shall consent to entry of
any judgment or enter into any settlement which does not include as an unconditional term thereof the giving by the claimant or plaintiff to each indemnified party of an unconditional release from all liability in respect to such claim or
litigation. The indemnifying party or parties shall not, in connection with any proceeding or related proceedings, be liable for the reasonable fees, disbursements and other charges of more than one separate firm at any one time for all such
indemnified party or parties unless (x) the employment of more than one counsel has been authorized in writing by the indemnifying party or parties, (y) a conflict or potential conflict exists or may exist (based on advice of counsel to an
indemnified party) between such indemnified party and the other indemnified parties or (z) based on advice of counsel, an indemnified party has reasonably concluded that there may be legal defenses available to it that are different from or in
addition to those available to the other indemnified parties, in each of which cases the indemnifying party shall be obligated to pay the reasonable fees and expenses of such additional counsel or counsels. 
 (d) Contribution. If for any reason the indemnification provided for in the paragraphs (a) and (b) of this Section 2.09 is unavailable to
an indemnified party or insufficient to hold it harmless as contemplated by paragraphs (a) and (b) of this Section 2.09, then the indemnifying party shall contribute to the amount paid or payable by the indemnified party as a result
of such Loss in such proportion as is appropriate to reflect the relative fault of the indemnifying party on the one hand and the indemnified party on the other. The relative fault shall be determined by reference to, among other things, whether the
untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the indemnifying party or the indemnified party and the parties’ relative intent, knowledge,
access to information and opportunity to correct or prevent such untrue statement or omission. Notwithstanding anything in this Section 2.09(d) to the contrary, no indemnifying party (other than the Company) shall be required pursuant to this
Section 2.09(d) to contribute any amount in excess of the amount by which the net proceeds received by such indemnifying party from the sale of Registrable Securities in the offering to which the Losses of the indemnified parties relate exceeds
the amount of any damages which such indemnifying party has otherwise been required to pay by reason of such untrue statement or omission. The parties hereto agree that it would not be just and equitable if contribution pursuant to this
Section 2.09(d) were determined by pro rata allocation or by any other method of allocation that does not take account of the equitable considerations referred to in the immediately preceding paragraph. No Person guilty of fraudulent
misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. If indemnification is available under this
Section 2.09, the indemnifying parties shall indemnify each indemnified party to the full extent provided in Sections 2.09(a) and 2.09(b) hereof without regard to the relative fault of said indemnifying parties or indemnified party. 

Section 2.10. Rule 144. The Company covenants that it shall use its best efforts to file any reports required to be filed by it
under the Securities Act and the Exchange Act and shall take such further action as the holders of Registrable Securities may reasonably request, all 
  

 19 

 
to the extent required from time to time to enable such holders to sell Registrable Securities without registration under the Securities Act within the
limitation of the exemptions provided by Rule 144 under the Securities Act, as such Rules may be amended from time to time, or any similar Rule or regulation hereafter adopted by the Commission. 
 ARTICLE 3 
 MISCELLANEOUS 
 Section 3.01. Term. This Agreement shall terminate upon earlier of (i) the tenth anniversary of the date of this Agreement or
(ii) the date as of which (A) all of the Registrable Securities have been sold pursuant to a Registration Statement (but in no event prior to the applicable period referred to in Section 4(3) of the Securities Act and Rule 174
thereunder) or (B) the holders are permitted to sell their Registrable Securities under Rule 144(k) under the Securities Act (or any similar provision then in force permitting the sale of restricted securities without limitation on the amount
of securities sold or the manner of sale). The provisions of Section 2.09 and Section 2.10 shall survive any termination. 
 Section 3.02. Notices. All notices, other communications or documents provided for or permitted to be given hereunder, shall be made in writing and shall be given either personally by hand-delivery, by facsimile
transmission, by mailing the same in a sealed envelope, registered first-class mail, postage prepaid, return receipt requested, or by air courier guaranteeing overnight delivery: 
  

			
	(a)	 	if to the Company to:
		
		 	 [BVI Newco]
 33 Riverside Avenue, 5th Floor
 Westport, CT 06880
 Attention: Paul K. Kelly, Chief Executive
 Officer
 Fax: (203)-226-8022

		
		 	 with a copy to:

		
		 	 Akin Gump Strauss Hauer & Feld LLP
 One Bryant
Park
 New York, NY 10036
 Attention: Bruce S. Mendelsohn, Esq.

 Fax: (212) 872-1002

		
	(b)
	 	 if to a Founder, to the address set forth below such Founder’s name on the signature page hereto.

 Each holder, by written notice given to the Company in accordance with this Section 3.02, may
change the address to which notices, other communications or documents are to be sent to such holder. All notices, other communications or documents shall be deemed to have been duly given: (i) at the time delivered by hand, if personally
delivered; (ii) when receipt is acknowledged in writing by addressee, if by facsimile transmission; (iii) five business days 

  

 20 

 
after having been deposited in the mail, postage prepaid, if mailed by first class mail; or (iv) on the first business day with respect to which a
reputable air courier guarantees delivery; provided, however, that notices of a change of address shall be effective only upon receipt. 
 Section 3.03. Successors, Assigns and Transferees. 
 (a) The registration rights of any
holder under this Agreement with respect to any Registrable Securities may be transferred and assigned, provided, however, that no such assignment shall be binding upon or obligate the Company to any such assignee unless and until the
Company shall have received notice of such assignment as herein provided and a written agreement of the assignee to be bound by the provisions of this Agreement. Any transfer or assignment made other than as provided in the first sentence of this
Section 3.03 shall be null and void. 
 (b) This Agreement shall be binding upon and shall inure to the benefit of the parties hereto,
and their respective successors and permitted assigns. 
 Section 3.04. Governing Law; Service of Process; Consent to Jurisdiction.

 (a) THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK APPLICABLE TO AGREEMENTS
MADE AND TO BE PERFORMED WITHIN THAT STATE. 
 (b) To the fullest extent permitted by applicable law, each party hereto (i) agrees that
any claim, action or proceeding by such party seeking any relief whatsoever arising out of, or in connection with, this Agreement or the transactions contemplated hereby shall be brought only in the United States District Court for the Southern
District of New York and in any New York State court located in the Borough of Manhattan and not in any other State or Federal court in the United States of America or any court in any other country, (ii) agrees to submit to the exclusive
jurisdiction of such courts located in the State of New York for purposes of all legal proceedings arising out of, or in connection with, this Agreement or the transactions contemplated hereby and (iii) irrevocably waives any objection which it
may now or hereafter have to the laying of the venue of any such proceeding brought in such a court and any claim that any such proceeding brought in such a court has been brought in an inconvenient forum. 
 Section 3.05. Headings. The section and paragraph headings contained in this Agreement are for reference purposes only and shall not
in any way affect the meaning or interpretation of this Agreement. 
 Section 3.06. Severability. Whenever possible, each
provision or portion of any provision of this Agreement will be interpreted in such manner as to be effective and valid under applicable law but if any provision or portion of any provision of this Agreement is held to be invalid, illegal or
unenforceable in any respect under any applicable law in any jurisdiction, such invalidity, illegality or unenforceability will not affect any other provision or portion of any provision in such jurisdiction, and this agreement will be reformed,
construed and enforced in such jurisdiction as if such invalid, illegal or unenforceable provision or portion of any provision had never been contained therein. 
  

 21 

 Section 3.07. Amendment; Waiver. 
 (a) This Agreement may not be amended or modified and waivers and consents to departures from the provisions hereof may not be given, except by an
instrument or instruments in writing making specific reference to this Agreement and signed by the Company and the holders of a majority of Registrable Securities of each class then outstanding. Each holder of any Registrable Securities at the time
or thereafter outstanding shall be bound by any amendment, modification, waiver or consent authorized by this Section 3.07(a), whether or not such Registrable Securities shall have been marked accordingly. 
 (b) The waiver by any party hereto of a breach of any provision of this Agreement shall not operate or be construed as a further or continuing waiver of
such breach or as a waiver of any other or subsequent breach. Except as otherwise expressly provided herein, no failure on the part of any party to exercise, and no delay in exercising, any right, power or remedy hereunder, or otherwise available in
respect hereof at law or in equity, shall operate as a waiver thereof, nor shall any single or partial exercise of such right, power or remedy by such party preclude any other or further exercise thereof or the exercise of any other right, power or
remedy. 
 Section 3.08. Counterparts. This Agreement may be executed in any number of separate counterparts and by the
parties hereto in separate counterparts each of which when so executed shall be deemed to be an original and all of which together shall constitute one and the same agreement. 
 Section 3.09. Attorney-In-Fact. The Founders hereby appoint and designate Paul K. Kelly and James D. Dunning, Jr., as their agent and
attorney-in-fact to take all actions (including any decisions on behalf of the holders) and to deliver all documents and certificates with respect to this Agreement, including the making of any modifications or amendments hereto. The actions of
either or both of the agents named in the previous sentence in doing the foregoing are hereby affirmed, ratified, confirmed and approved in all respects. This power of attorney shall be revocable on the delivery of written notice of such revocation
to the Company and Paul K. Kelly and James D. Dunning, Jr. or either of them. 
  

 22 

 IN WITNESS WHEREOF, the parties hereto have caused this Amended and Restated Registration Rights
Agreement to be duly executed as of the date first written above. 
  

			
	 [BVI NEWCO]

		
	 BY:
	 	  

	 Name:
	 	
	 Title:
	 	
	
	 FOUNDERS

		
	 By:
	 	  

	 Name:
	 	Paul K. Kelly
	 Title:
	 	

			
	 Address:
	 	  

	  

	  

			
		
	 By:
	 	  

	 Name:
	 	James D. Dunning, Jr.
	 Title:
	 	

			
	 Address:
	 	  

	  

	  

			
		
	 By:
	 	  

	 Name:
	 	Alan G. Hassenfeld
	 Title:
	 	

			
	 Address:
	 	  

	  

	  

			
		
	 By:
	 	  

	 Name:
	 	Gregory E. Smith
	 Title:
	 	

			
	 Address:
	 	  

	  

	  

			
	By:	 	  

	Name:	 	Xiao Feng
	Title:	 	Chairman & CEO

			
	Address:	 	  

	  

	  

			
		
	By:	 	  

	Name:	 	Cheng Yan Davis
	Title:	 	

			
	Address:	 	  

	  

	  

			
		
	By:	 	  

	Name:	 	Soopakij (Chris) Chearavanont
	Title:	 	

			
	Address:	 	  

	  

	  

			
		
	By:	 	  

	Name:	 	Ruey Bin Kao
	Title:	 	

			
	Address:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00148-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00148-of-00352.parquet"}]]