Document:

EX-10.25

Exhibit 10.25

SEPARATION AGREEMENT

This Agreement is between Merge Healthcare Incorporated, its subsidiaries and related entities,
which in this Agreement are referred to collectively as “Merge Healthcare” and Gary D. Bowers,
referred to in this Agreement as Employee or “Bowers.”

1. Background. Bowers’ employment with Merge Healthcare terminated, and Bowers
experienced a separation from service (as defined in section 409A of the Internal Revenue Code and
applicable guidance thereunder (hereafter referred to as “Section 409A”)), effective June 4, 2008
(the “Separation Date”). Both Bowers and Merge Healthcare desire an amicable separation and to
fully and finally compromise and settle any differences that may exist between them on the terms
set forth in this Agreement. Merge Healthcare waives any notice and cure rights relating to
Bowers’ termination of employment.

2. Employment Termination. Bowers understands that his employment with Merge
Healthcare ended as of the Separation Date and as of such date he is no longer entitled to any of
the rights or benefits set forth in the Employment Agreement between Merge Healthcare and Bowers,
dated February 5, 2007, as such may have been amended (the “Employment Agreement”), other than as
specifically set forth in this Agreement.

3. Severance Pay and Benefits. In return for the execution of this Agreement, it
becoming effective (see paragraph 18), and Bowers honoring all of its terms, and in lieu of and not
in addition to any rights or benefits set forth in the Employment Agreement or to which Bowers may
otherwise be entitled to, all of which Bowers acknowledges and agrees he is, other than as
specifically set forth herein, no longer entitled to, Merge Healthcare will provide Bowers with the
following pay and benefits:

a. Severance pay equal to 80% of (i) twelve (12) months’ regular base pay (based on an
annual regular base pay of $235,000/year) plus (ii) $201,316.67 less applicable withholding
and deductions. Merge Healthcare and Bowers acknowledge that pursuant to the Employment
Agreement, the severance pay would otherwise be paid in twenty-four (24) substantially equal
installments on the 15th and final day of each month over a twelve (12) month
period from the Separation Date, with each installment treated as a separate “payment” for
purposes of Section 409A. Accordingly, the parties believe that any benefits that would
otherwise be payable (A) within 2-1/2 months after the end of Merge Healthcare’s taxable year
containing the Separation Date, or (B) within 2-1/2 months after the Employee’s taxable year
containing the Separation Date are exempt from Section 409A. Furthermore, to the extent the
severance pay benefits are not exempt from Section 409A under the preceding sentence, those
severance pay benefits are exempt from Section 409A as severance pay due to an involuntary
separation from service because severance benefits are payable under the Employment
Agreement only upon a separation that is “involuntary” for purposes of Section 409A and the
sum of the severance pay benefits not exempt under the preceding sentence is equal to or
less than the Involuntary Separation Amount (as defined in the Employment Agreement)
Accordingly, the parties believe Bowers’ severance pay benefits are exempt from Section 409A
pursuant to one of the two preceding sentences, and notwithstanding any provision in the
Employment Agreement to the contrary, Bowers’ severance pay benefits shall be paid in a lump
sum on the first regular payroll date following the date on which this Agreement becomes
effective (see paragraph 18).

b. If Bowers and/or any of his dependents who are qualified beneficiaries (within the
meaning of Code Section 4980B and any regulations thereunder) elect COBRA continuation
coverage under any group health plan maintained by Merge Healthcare, then for twelve (12)
calendar months following the Separation Date (the “severance period”), Merge Healthcare
shall pay the provider of such COBRA continuation coverage an amount toward such COBRA
continuation coverage premiums equal to 80% of the difference between Bowers’ monthly COBRA
premium and the monthly active management employee premium for the same coverage under such
plan or for comparable coverage provided to the employees of Merge Healthcare under the then
applicable plan (the “COBRA supplement”). Bowers shall be responsible for all other COBRA
continuation premiums and must make arrangements for providing such payments in accord with
the COBRA continuation requirements. Merge Healthcare shall pay the COBRA supplement to such
provider on or before the due date for the monthly premium for each month during the
severance period during which such coverage is continued by Bowers. 1

c. In addition, to the extent not already paid, Bowers shall receive pay for any earned
but unused vacation as of the Separation Date. Such vacation pay shall be paid out in a
lump sum on the first regular payroll date following the Separation Date. The vacation
payout shall be provided irrespective of whether this Agreement becomes effective
notwithstanding anything to the contrary in this Agreement.

d. Bowers acknowledges and agrees that he has forfeited any and all unexercised stock
options previously issued to Bowers from Merge Healthcare and any option agreement that
exists between Bowers and Merge Healthcare is, effective as of the Separation Date, hereby
terminated.

e. Nothing in this Agreement shall limit or reduce Bowers’ eligibility for coverage
under any “tail” insurance policy for the directors and officers liability insurance policy
of Merge Healthcare applicable to directors and officers of Merge Healthcare immediately
prior to the Separation Date for any act or omission of Bowers during his employment.

f. Merge Healthcare acknowledges that it believes that the payments described above
will not result in income under Section 409A to Bowers and that, under current applicable
law and guidance, it will not report any such payments as Code Z income in Box 12 on Bowers’
Form W-2.

4. Acknowledgement. Bowers understands that the pay and benefits provided in this
Agreement will not be paid or provided unless he accepts this Agreement and it becomes effective
(see paragraph 18).

5. Release. Bowers understands and agrees that his acceptance of this Agreement means
that, except as stated in paragraph 9, he is forever waiving and giving up any and all claims he
may have, whether known or unknown, against Merge Healthcare, its subsidiaries, related companies
and affiliates and each of their officers, directors, managers, employees, members, shareholders,
attorneys, accountants and agents (together the “Merge Parties”) for any personal monetary relief,
losses, claims, benefits or remedies that are based on any act or failure to act that occurred
before he signed this Agreement. Bowers understands that this release and waiver of claims
includes, but is not limited to: (i) all claims relating to Bowers’ employment and the termination
of that employment; (ii) any Merge Healthcare policy, practice, contract or agreement; (iii) any
tort or personal injury; (iv) any policies, practices, laws or agreements governing the payment of
wages, commissions or other compensation; (v) any laws governing employment discrimination
including, but not limited to, the Age Discrimination in Employment Act (“ADEA”), the Older Workers
Benefit Protection Act, Title VII of the Civil Rights Act, the Employee Retirement Income Security
Act, the Americans with Disabilities Act, and any and all state or local laws regarding
discrimination; (vi) any laws governing whistle blowing or retaliation, including but not limited
to, the Sarbanes-Oxley Act; (vii) any laws or agreements that provide for punitive, exemplary or
statutory damages; and (viii) any laws or agreements that provide for the payment of attorney fees,
costs or expenses.

6. Non-Disparagement. Bowers agrees not to make critical, negative or disparaging
remarks or written comments about the Merge Parties or Merge Healthcare’s products/services to
others. Merge Healthcare similarly agrees not to make any negative or disparaging remarks or
written comments about Bowers.

7. Future Employment. Bowers agrees that he is not now or hereafter entitled to
employment or reemployment with Merge Healthcare and he agrees not to knowingly seek such
employment, whether directly on his own or through an employment agency. Bowers further agrees and
acknowledges that should he apply for any position in contradiction of this paragraph, Merge
Healthcare, its parent, subsidiaries, affiliates or related companies may completely ignore such
application and fail to consider it based on this paragraph. Nothing in this paragraph, however,
shall prevent Merge Healthcare from approaching Bowers with employment opportunities if it so
desires.

8. Future Cooperation. Bowers agrees to cooperate with Merge Healthcare in the future
and to provide to Merge Healthcare truthful information, testimony or affidavits requested in
connection with any matter that arose during his employment. This cooperation may be performed at
reasonable times and places and in a manner as to not interfere with any other employment or
material personal obligations Bowers may have at the time of request. Merge Healthcare agrees to
reimburse Bowers for reasonable expenses incurred in providing such cooperation, so long as such
expenses are approved in advance by Merge Healthcare. Any such reimbursable expenses shall be paid
by Merge Healthcare to Bowers within sixty (60) days of receipt by Merge Healthcare of appropriate
documentation for the expenses, but not later than the last day of Bowers’ taxable year following
the taxable year in which the expenses were incurred. The expenses paid by Merge Healthcare during
any taxable year of Bowers will not affect the expenses paid by Merge Healthcare to Bowers in
another taxable year. Bowers’ right to reimbursement of such expenses is not subject to
liquidation or exchange for another benefit.

9. Claims Not Waived. Bowers understands that this Agreement does not waive
any claims that he may have: (a) for compensation for illness or injury or medical expenses under
any worker’s compensation statute; (b) for benefits under any plan currently maintained by Merge
Healthcare that provides for retirement benefits; (c) under any law or any policy or plan currently
maintained by Merge Healthcare that provides health insurance continuation or conversion rights;
(d) any claim over the obligations in this Agreement or their enforcement; (e) any claim that by
law cannot be released or waived or (f) for “tail” insurance coverage referenced in Section 3(e)
above or to indemnification as in effect as of the Separation Date by Merge Healthcare under its
Articles of Incorporation or By-laws with respect to expenses or liabilities, actual or alleged,
covered thereby with respect to acts or omissions by Bowers occurring during Bowers’ employment by
Merge Healthcare.

10. Government Cooperation. Nothing in this Agreement prohibits Bowers from
cooperating with any government agency.

11. Confidentiality & Non-Compete Obligation(s). Bowers agrees and understands that
this Agreement does not supersede or otherwise limit or terminate his obligations under Sections
15-18 and the first Section 19 (as applicable to Sections 15-18) of his Employment Agreement; nor
does this Agreement reduce Bowers’ obligations to comply with applicable laws relating to trade
secrets, confidential information or unfair competition. The provisions of Sections 15 through 18
and the first Section 19 (as applicable to Sections 15-18) of the Employment Agreement are
incorporated herein by reference and are explicitly reaffirmed and agreed to by Bowers. Bowers
acknowledges and agrees that the payments described in Section 3 hereof are, in part, additional
consideration for such obligations.

12. Non-admission. Bowers and Merge Healthcare both acknowledge and agree that
nothing in this Agreement is meant to suggest that Merge Healthcare has violated any law or
contract or that Bowers has any claim against Merge Healthcare.

13. Voluntary Agreement. Bowers acknowledges and states that he has entered into this
Agreement knowingly and voluntarily.

14. Consulting an Attorney. Bowers acknowledges that Merge Healthcare has encouraged
him to and he has consulted with an attorney of his own choice about this Agreement and every
matter that it covers before signing it.

15. Obligation to Pay Attorney Fees and Costs. Bowers understands and agrees that if
he violates the commitments he has made in this Agreement, Merge Healthcare may seek to recover any
payments and/or benefits provided in this Agreement and that, except as provided in paragraph 16,
Bowers will be responsible for paying the actual attorney fees and costs incurred by Merge
Healthcare in successfully enforcing this Agreement or in successfully defending a claim released
by paragraph 5.

Merge Healthcare understands and agrees that it will be responsible for paying the actual
attorney fees and costs incurred by Bowers in successfully enforcing this Agreement or in
successfully defending a claim brought by Merge Healthcare against him under this Agreement.

Payment of such fees and costs shall be made by the reimbursing party to the reimbursed party
within sixty (60) days of the date on which the prevailing party was determined, but in no event
later than the last day of the reimbursed party’s taxable year following the taxable year in which
the prevailing party was determined. If Bowers is the prevailing party, the expenses paid by Merge
Healthcare during any taxable year of Bowers will not affect the expenses paid by Merge Healthcare
in another taxable year. Bowers’ right to reimbursement if he is the prevailing party is not
subject to liquidation or exchange for another benefit.

For any litigation under this Agreement, Bowers and Merge Healthcare agree that such matters
shall be litigated in the state or federal courts situated in Milwaukee, Wisconsin, to which
jurisdiction and venue all parties consent and is proper.

16. Exception to Attorney Fees Obligation. The obligation to pay Merge Healthcare’s
attorney fees and costs does not apply to an action by Bowers regarding the validity of this
Agreement under the ADEA.

17. Complete Agreement. Except as provided in paragraph 11 above, Bowers understands
and agrees that this document and Sections 14-18 and the first Section 19 (as applicable to
Sections 14-18) and the second Section 19 of his Employment Agreement comprise the entire agreement
between he and Merge Healthcare relating to his employment and the termination of his employment,
that this Agreement supersedes and displaces any prior agreements and discussions relating to such
matters and that he may not rely on any such prior agreements or discussions.

18. Effective Date and Revocation. This Agreement shall not be effective until seven
days after Bowers signs it and returns it to Justin Dearborn, Chief Executive Officer of Merge
Healthcare. During that seven-day period Bowers may revoke his acceptance of this Agreement by
delivering to Justin Dearborn a written statement stating he wishes to revoke this Agreement or not
be bound by it.

19. Final and Binding Effect. Bowers understands that if this Agreement becomes
effective it will have a final and binding effect and that by signing and not timely revoking this
Agreement he may be giving up legal rights.

20. Representations. By signing this Agreement Bowers represents that he has read
this entire document and understands all of its terms.

21. Return of Property. Bowers acknowledges an obligation and agrees to return all
Merge Healthcare property, unless otherwise specified in this paragraph. This includes all files,
memoranda, documents, records, credit cards, keys and key cards, computers, laptops, personal
digital assistants, cellular telephones, Blackberry devices or similar instruments, other equipment
of any sort, badges, vehicles, and any other property of Merge Healthcare. In addition, Bowers
agrees to provide any and all access codes or passwords necessary to gain access to any computer,
program or other equipment that belongs to Merge Healthcare or is maintained by Merge Healthcare or
on company property. Further, Bowers acknowledges an obligation and agrees not to destroy, delete
or disable any company property, including items, files and materials on computers and laptops.

22. 45-Day Consideration Period. Bowers may consider whether to sign and accept this
Agreement for a period of forty-five days (45) from the day he received it. If this Agreement is
not signed, dated and returned to Justin Dearborn within forty-six (46) days, the offer of pay and
benefits described in paragraph 3 will no longer be available.

23. Comparative Data/Eligibility Criteria. Bowers acknowledges that he has received
with this Agreement a list for his location of the job titles of those employees whose employment
is ending on or about the Separation Date and the ages of those employees and the employees whose
employment at the same location is not ending.

Date Agreement provided to Bowers: July 18, 2008

	 	 	 	 	 
	ACCEPTED:
	 	ACCEPTED:
	/s/ Gary D. Bowers
	 	Merge Healthcare Incorporated
	—
	 	/s/ Steve Oreskovich
	Gary D. Bowers
	 	 	—	 
	Dated: July 20, 2008
	 	Steve Oreskovich
	—
	 	Chief Financial Officer

	1	 	By way of example, if the monthly COBRA
continuation payment would be $250 and Bowers’ monthly active employee
insurance cost would have been $100, Merge Healthcare will reduce its monthly
COBRA continuation payment from $150 to $120 and Bowers shall be responsible
for the remaining $130 per month with respect to his COBRA continuation
coverage.exhibit101.htm

    
      
        

        

      

      Exhibit
10.1

      

       

      These
securities have not been registered with the United States Securities and
Exchange Commission or the securities commission of any state because they are
believed to be exempt from registration under Regulation D and/or Regulation S
promulgated under the Securities Act of 1933, as amended (the “Act”). The
foregoing authorities have not confirmed the accuracy or determined the adequacy
of this document. Any representation to the contrary is a criminal offense. This
subscription agreement shall not constitute an offer to sell nor a solicitation
of an offer to buy the securities in any jurisdiction in which such offer or
solicitation would be unlawful.

      

      These
securities are subject to restrictions on transferability and resale and may not
be transferred or resold except as permitted under the Act, and applicable state
securities laws, pursuant to registration or exemption
therefrom.  Investors should be aware that they will be required to
bear the financial risks of this investment for an indefinite period of
time.  All offers and sales of the herein-described securities by
non-U.S. persons before the expiration of a period commencing on the date of the
closing of this offering and ending one year thereafter shall only be made in
compliance with Regulation S, pursuant to registration under the Act, or
pursuant to an exemption from registration, and all offers and sales after the
expiration of the one-year period shall be made only pursuant to registration or
an exemption from registration.  Hedging transactions involving these
securities may not be conducted unless in compliance with the Act.

       

      

      FORM OF OFFSHORE STOCK
PURCHASE AGREEMENT

      

      This
Offshore Stock Purchase Agreement (the “Agreement”) is entered into this ___ day
of ________, 2008 (the “Effective Date”), by and between SHOUREN ZHAO, a citizen
and resident of Nanjing, People’s Republic of China (“SELLER”) and
_____________________, a citizen and resident of the People’s Republic of China
(“PURCHASER”), with respect to shares of common stock of CHINA RUNJI CEMENT
INC., a Delaware corporation (“ISSUER”).

      

      WHEREAS,
PURCHASER desires to purchase _______________________ shares of restricted
common stock of ISSUER (the “Shares”); and

      

      WHEREAS,
SELLER agrees to deliver the Shares for the Consideration (as defined below) to
be paid by PURCHASER, subject to the terms and conditions set forth
below.

      

      NOW,
THEREFORE, for and in consideration of the mutual promises herein, and for other
good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties agree as follows:

      

      
        	
                1.

              	
                Purchase and
      Sale. On the basis of the representations and warranties herein
      contained, subject to the terms and conditions set forth herein, PURCHASER
      hereby agrees to purchase the Shares at a purchase price of ________ per
      share, for a total aggregate purchase price of ___________ (the
      “Consideration”), and  SELLER hereby agrees to sell the Shares
      to PURCHASER for such
Consideration.

              

      

      

      
        	
                2.

              	
                Closing. The
      closing of the purchase and sale contemplated by this Agreement (the
      “Closing”) shall occur upon the transfer of the Consideration to the
      SELLER by PURCHASER by check or wire transfer of funds. SELLER shall cause
      ISSUER to deliver the Shares to PURCHASER within 14 days of receiving full
      payment under this Agreement.

              

      

      

      
        	
                 
      

              	
                A.

              	
                Transactions
      and Document Exchange at Closing.  Prior to or at the Closing,
      the following transactions shall occur and documents shall be exchanged,
      all of which shall be deemed to occur
  simultaneously:

              

      

      

      
        	
                 
      

              	
                (1)
      by
      PURCHASER: PURCHASER shall deliver, or cause to be delivered, to
      SELLER: (a) the balance of the Consideration (if any); and (b) such other
      documents, instruments, and/or certificates, if any, as are required to be
      delivered pursuant to the provisions of this Agreement, or which are
      reasonably determined by the parties to be required to effectuate the
      transactions contemplated in this Agreement, or as otherwise may be
      reasonably requested by SELLER in furtherance of the intent of this
      Agreement;

              

      

      

      
        	
                 
      

              	
                (2)
      by
      SELLER: SELLER shall deliver, or cause the ISSUER to make the
      following to be delivered, to PURCHASER: (a) the Shares; and (b) such
      other documents, instruments, and/or certificates, if any, as are required
      to be delivered pursuant to the provisions of this Agreement, or which are
      reasonably determined by the parties to be required to effectuate the
      transactions contemplated in this Agreement, or as otherwise may be
      reasonably requested by PURCHASER in furtherance of the intent of this
      Agreement.

              

      

      

      
        	
                 
      

              	
                B.

              	
                Post
      -Closing Documents.  From time to time after the Closing, upon
      the reasonable request of any party, the party to whom the request is made
      shall deliver such other and further documents, instruments, and/or
      certificates as may be necessary to more fully vest in the requesting
      party the Consideration or the Shares as provided for in this Agreement,
      or to enable the requesting party to obtain the rights and benefits
      contemplated by this Agreement.

              

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
        	
                3.

              	
                Private
      Offering. PURCHASER and SELLER both understand and agree that the
      purchase and sale of securities contemplated herein constitutes a private,
      arms-length transaction between a willing seller and willing buyer without
      the use or reliance upon a broker, distributor or securities
      underwriter.

              

      

      

      
        	
                 
      

              	
                A.

              	
                Purchase
      for Investment. Neither PURCHASER nor SELLER are underwriters of, or
      dealers in, the securities to be sold and exchanged
    hereunder.

              

      

      

      
        	
                 
      

              	
                B.

              	
                Investment
      Risk. Because of ISSUER’s financial position and other factors as
      disclosed in ISSUER’s publicly filed reports with the SEC, the transaction
      contemplated by this Agreement may involve a high degree of financial
      risk, including the risk that one or both parties may lose its entire
      investment, and both parties hereby agree that they have each undertaken
      an independent evaluation of the risks associated with the Shares, and
      both parties understand those risks and are willing to accept the risk
      that they may be to bear the financial risks of this investment for an
      indefinite period of time.

              

      

      

      
        	
                 
      

              	
                C.

              	
                Access
      to Information. PURCHASER and ISSUER and their advisors have been afforded
      the opportunity to discuss the transaction with legal and accounting
      professionals and to examine and evaluate the financial impact of the sale
      and exchange contemplated herein. PURCHASER has received and reviewed
      ISSUER’s most recent Form 10-KSB as amended, and quarterly reports on Form
      10-QSB for the most recent two quarters, all as filed with the SEC.
      PURCHASER acknowledges that it has been furnished with the information
      required to conform with the provisions of subparagraph (a)(5) of Rule
      15c2-11 of the Securities and Exchange
  Commission.

              

      

      

      
        	
                4.

              	
                Representations and
      Warranties of PURCHASER: PURCHASER hereby covenants and represents
      and warrants to SELLER that:

              

      

      

      
        	
                 
      

              	
                A.

              	
                Organization.
      PURCHASER is a citizen and resident of the People’s Republic of China. The
      execution and delivery of this Agreement and the consummation of the
      transaction contemplated in this Agreement have been, or will be prior to
      Closing, duly undertaken on the part of the PURCHASER.  This
      Agreement has been duly executed and delivered by PURCHASER and
      constitutes a binding and enforceable obligation of
    PURCHASER.

              

      

      

      
        	
                 
      

              	
                B.

              	
                Third
      Party Consent. No authorization, consent, or approval of, or registration
      or filing with, any governmental authority or any other person is required
      to be obtained or made by PURCHASER in connection with the execution,
      delivery, or performance of this Agreement or the transfer of the Shares,
      or if any such is required, PURCHASER will have or will obtain the same
      prior to Closing.

              

      

      

      
        	
                 
      

              	
                C.

              	
                Litigation.
      PURCHASER is not a defendant against whom a claim has been made or a
      judgment rendered in any litigation or proceedings before any local,
      state, or federal government, including but not limited to the United
      States, or any department, board, body, or agency
  thereof.

              

      

      

      
        	
                 
      

              	
                D.

              	
                Authority.
      This Agreement has been duly executed by PURCHASER, and the execution and
      performance of this Agreement will not violate, or result in a breach of,
      or constitute a default in, any agreement, instrument, judgment, order, or
      decree to which PURCHASER is a party or to which the Consideration is
      subject.

              

      

      

      
        	
                 
      

              	
                E.

              	
                Offshore
      Transaction. PURCHASER represents and warrants to SELLER as follows: (i)
      PURCHASER is not a “U.S. person” as that term is defined in Rule 902 of
      Regulation S; (ii) PURCHASER is not, and on the Closing date will not be,
      an affiliate of ISSUER; (iii) at the execution of this Agreement, as well
      as the time this transaction is or was due, PURCHASER was outside the
      United States, and no offer to purchase the Shares was made in the United
      States; (iv) PURCHASER agrees that offers and sales of the Shares shall
      not be made to U.S. persons unless the Shares are registered or a valid
      exemption from registration can be relied on under applicable U.S. state
      and federal securities laws; (v) PURCHASER is not a distributor or dealer;
      (vi) the transactions contemplated hereby have not been and will not be
      made on behalf of any U.S. person or pre-arranged by PURCHASER with a
      purchaser located in the United States or a purchaser which is a U.S.
      person, and such transactions are not and will not be part of a plan or
      scheme to evade the registration provisions of the Act; (vii) all offering
      documents received by PURCHASER include statements to the effect that the
      Shares have not been registered under the Securities Act of 1933 and may
      not be offered or sold in the United States or to U.S. Persons (other than
      distributors as defined in Regulation S) during the Restricted Period
      unless the Shares are registered under the Securities Act of 1933 or an
      exemption from registration is
available.

              

      

      

      The
foregoing representations and warranties are true and accurate as of the date
hereof, shall be true and accurate as of the date of the acceptance by SELLER of
PURCHASER’s purchase, and shall survive thereafter. If PURCHASER has knowledge,
prior to the acceptance of this Offshore Stock Purchase Agreement by SELLER,
that any such representations and warranties shall not be true and accurate in
any respect, PURCHASER prior to such acceptance, will give written notice of
such fact to SELLER specifying which representations and warranties are not true
and accurate and the reasons therefor.

      

      PURCHASER
agrees to fully indemnify, defend and hold harmless SELLER, his agents and
attorneys from and against any and all losses, claims, damages, liabilities and
expenses, including reasonable attorney's fees and expenses, which may result
from a breach of PURCHASER’s representations, warranties and agreements
contained herein.

      

      
        	
                 
      

              	
                F.

              	
                Accredited
      Investor. PURCHASER is an accredited investor as that term is defined in
      Rule 501(a) of Regulation D promulgated under the Act. PURCHASER further
      represents and warrants that the information as disclosed in “Exhibit A”
      attached hereto is true and
correct.

              

      

      

      
        	
                 
      

              	
                G.

              	
                Beneficial
      Owner. PURCHASER is purchasing stock for its own account or for the
      account of beneficiaries for whom PURCHASER has full investment discretion
      with respect to stock and whom PURCHASER has full authority to bind, so
      that each such beneficiary is bound hereby as if such beneficiary were a
      direct signatory hereunder, and all representations, warranties and
      agreements herein were made directly by such
  beneficiary.

              

      

       

      
        
          
          

        

        
          - 2
-

          
            

          

        

        
          
          

        

      

       

      
        	
                 
      

              	
                H.

              	
                Directed
      Selling Efforts. PURCHASER will not engage in any activity for the purpose
      of, or that could reasonably be expected to have the effect of,
      conditioning the market in the United States for any of the Shares sold
      hereunder. To the best of its knowledge, neither PURCHASER nor any person
      acting for PURCHASER has conducted any “directed selling efforts” as that
      term is defined in Rule 902 of Regulation
S.

              

      

      

      
        	
                 
      

              	
                I.

              	
                Independent
      Investigation; Access. PURCHASER, in electing to purchase the Shares
      herein, has relied solely upon independent investigation made by it and
      its representatives. PURCHASER has been given no oral or written
      representation or warranty from ISSUER other than as set forth in this
      Agreement. PURCHASER and its representatives, if any, have, prior to any
      sale to it, been given access and the opportunity to examine all material
      books and records of ISSUER, all material contracts and documents relating
      to ISSUER and this offering and an opportunity to ask questions of, and to
      receive answers from, ISSUER or any officer of ISSUER acting on its behalf
      concerning ISSUER and the terms and conditions of this offering. PURCHASER
      and its advisors, if any, have been furnished with access to all publicly
      available materials relating to the business, finances and operations of
      ISSUER and materials relating to the offer and sale of the Shares which
      have been requested. PURCHASER and its advisors, if any, have received
      complete and satisfactory answers to any such
  inquiries.

              

      

      

      
        	
                 
      

              	
                J.

              	
                No
      Government Recommendation or Approval. PURCHASER understands that no
      United States federal or state agency, or similar agency of any other
      country, has passed upon or made any recommendation or endorsement of the
      Shares, or this transaction.

              

      

      

      
        	
                 
      

              	
                K.

              	
                No
      Formation or Membership in “Group.”  PURCHASER is not part of a
      “group” as that term is defined under the Act.  PURCHASER is
      not, and does not intend to become, included with two or more persons
      acting as a partnership, syndicate, or other group for the purpose of
      acquiring, holding or disposing of securities of the
    Company.

              

      

      

      
        	
                 
      

              	
                L.

              	
                Hedging
      Transactions.  PURCHASER hereby agrees not to engage in any
      hedging transactions involving the securities described herein unless in
      compliance with the Act and Regulation S promulgated
      thereunder.

              

      

      

      
        	
                5.

              	
                Conditions Precedent
      to SELLER’S Closing. All obligations of SELLER under his Agreement,
      and as an inducement to SELLER to enter into this Agreement, are subject
      to PURCHASER’s covenants and agreements to each of the
      following:

              

      

      

      
        	
                 
      

              	
                A.

              	
                Acceptance
      of Documents. All instruments and documents delivered to SELLER pursuant
      to this Agreement or reasonably requested by SELLER to verify the
      representations and warranties of PURCHASER herein, shall be satisfactory
      to SELLER and its legal counsel.

              

      

      

      
        	
                 
      

              	
                B.

              	
                Representations
      and Warranties. The representations and warranties by PURCHASER set forth
      in this Agreement shall be true and correct at and as of the Closing date,
      with the same force and effect as though made at and as of the date
      hereof, except for changes permitted or contemplated by this
      Agreement.

              

      

      

      
        	
                 
      

              	
                C.

              	
                No
      Breach or Default. PURCHASER shall have performed and complied with all
      covenants, agreements, and conditions required by this Agreement to be
      performed or complied with by it prior to or at the
    Closing.

              

      

      

      
        	
                6.

              	
                Termination.
      This Agreement may be terminated at any time prior to the date of Closing
      by either party if (a) there shall be any actual or threatened action or
      proceeding by or before any court or any other governmental body which
      shall seek to restrain, prohibit, or invalidate the transaction
      contemplated by this Agreement, and which in the judgment of such party
      giving notice to terminate and based upon the advice of legal counsel
      makes it inadvisable to proceed with the transaction contemplated by this
      Agreement, or (b) if this Agreement has not been approved and properly
      executed by the parties by August 15,
2008.

              

      

      

      
        	
                7.

              	
                Restrictive
      Legend. PURCHASER agrees that the Shares shall bear a restrictive
      legend to the effect that transfer is prohibited except in accordance with
      the provisions of Regulation S, pursuant to registration under the Act, or
      pursuant to an available exemption from registration, and that hedging
      transactions involving those securities may not be conducted unless in
      compliance with the Act.

              

      

      

      
        	
                8.

              	
                ISSUER’s Obligation to
      Refuse Transfer. Pursuant to Regulation S promulgated under the
      Act, SELLER hereby agrees to cause ISSUER to refuse to register any
      transfer of the Shares not made in accordance with the provisions of
      Regulation S, pursuant to registration under the Act, or pursuant to an
      available exemption from
registration.

              

      

       

      
        
          
          

        

        
          - 3
-

          
            

          

        

        
          
          

        

      

       

      
        	
                9.

              	
                Miscellaneous.

              

      

      

      
        	
                 
      

              	
                A.

              	
                Valid
      Execution. This Agreement has been validly
  executed.

              

      

      

      
        	
                 
      

              	
                B.

              	
                Notices.
      Any notice under this Agreement shall be deemed to have been sufficiently
      given if sent by registered or certified mail, postage prepaid, or by
      express mail service substantially equivalent to Federal Express,
      addressed as follows:

              

      

      

      
        	
                To
      PURCHASER:

              	
                _____________________

              

      

      
        	
                 
      

              	
                _____________________

              

      

      
        	
                 
      

              	
                _____________________

              

      

      _____________________

      

      

      
        	
                To
      SELLER:

              	
                Shouren
      Zhao, Chairman

              

      

      China
Runji Cement Inc.

      Xian
Zhong Town, Han Shan County

      Chao Hu
City, PRC

      

      
        	
                 
      

              	
                C.

              	
                Entire
      Agreement. This Agreement constitutes the entire agreement among the
      parties hereto with respect to the subject matter hereof and supersedes
      any and all prior or contemporaneous representations, warranties,
      agreements and understandings in connection therewith. This Agreement may
      be amended only by a writing executed by all parties
    hereto.

              

      

      

      
        	
                 
      

              	
                D.

              	
                Severability.
      If a court of competent jurisdiction determines that any clause or
      provision of this Agreement is invalid, illegal or unenforceable, the
      other clauses and provisions of the Agreement shall remain in full force
      and effect and the clauses and provisions which are determined to be void,
      illegal or unenforceable shall be limited so that they shall remain in
      effect to the extent permissible by
law.

              

      

      

      
        	
                 
      

              	
                E.

              	
                Assignment.
      None of the parties hereto may assign this Agreement without the express
      written consent of the other parties and any approved assignment shall be
      binding on and inure to the benefit of such successor or, in the event of
      death or incapacity, on assignor’s heirs, executors, administrators,
      representatives, and successors.

              

      

      

      
        	
                 
      

              	
                F.

              	
                Applicable
      Law. This Agreement has been negotiated and is being contracted for in the
      People’s Republic of China.  It shall be governed by and
      interpreted in accordance with the laws of the People’s Republic of China,
      regardless of any conflict-of-law provision to the
    contrary.

              

      

      

      
        	
                 
      

              	
                G.

              	
                Attorney’s
      Fees. If any legal action or other proceeding (including but not limited
      to binding arbitration) is brought for the enforcement of or to declare
      any right or obligation under this Agreement or as a result of a breach,
      default or misrepresentation in connection with any of the provisions of
      this Agreement, or otherwise because of a dispute among the parties
      hereto, the prevailing party will be entitled to recover actual attorney’s
      fees (including for appeals and collection and including the actual cost
      of in-house counsel, if any) and other expenses incurred in such action or
      proceeding, in addition to any other relief to which such party may be
      entitled.

              

      

       

      
        	
                 
      

              	
                H.

              	
                Counterparts
      and Facsimile. This Agreement may be executed in any number of identical
      counterparts (except as to signature only), each of which may be deemed an
      original for all purposes. A fax, telecopy or other reproduction of this
      instrument may be executed by one or more parties hereto and such executed
      copy may be delivered by facsimile or similar instantaneous electronic
      transmission device pursuant to which the signature of or on behalf of
      such party can be discerned as legible, and such execution and delivery
      shall be considered valid, binding and effective for all
      purposes.

              

      

      

      

      
        
          
          

        

        
          - 4
-

          
            

          

        

        
          
          

        

         

         

         

         

        IN
WITNESS WHEREOF, the parties have executed this agreement
below.

      

       

      
        	
                PURCHASER:

              

      

      

      
        	
                _____________________________________

              

      

      

       

      /s/                                                    

      (In His/Her Individual
Capacity)

       

       

       

      SELLER:

       

      SHOUREN
ZHAO

      

       

      /s/ Shouren
Zhao

      (In His
Individual Capacity)

      

       

      
 

      
        
           

        

        
          - 5
-

          
            

          

        

        
           

        

      

       

      EXHIBIT
"A"

      

      PURCHASER
REPRESENTATIONS LETTER

      

      Shouren
Zhao, Chairman

      China
Runji Cement Inc.

      Xian
Zhong Town, Han Shan County

      Chao Hu
City, People’s Republic of China

      

      Dear
Sir:

      

      The
undersigned, ________________, intends to purchase ___________________________
shares (the “Shares”) of common stock of China Runji Cement Inc. (the “Company”)
from you in a transaction that is exempt from registration under the United
States Securities Act of 1933, as amended (the “Securities Act”).

      

      The
undersigned represents and warrants as follows:

      

      (1)           The
offer to purchase the Shares was made to him outside of the United States, while
the undersigned was, and is now, outside the United States;

      

      (2)           The
undersigned is not a U.S. Person (as such term is defined in Section 902(a) of
Regulation S ("Regulation S") promulgated under the Securities Act; and he/she
is purchasing the Shares for his/her own account and not for the account or
benefit of any U.S. person;

      

      (3)           All
offers and sales by the undersigned of the Shares shall be made pursuant to an
effective registration statement under the Securities Act or pursuant to an
exemption from, or in a transaction not subject to, the registration
requirements of the Securities Act;

      

      (4)           The
undersigned is familiar with and understands the terms and conditions and
requirements contained in Regulation S;

      

      (5)           The
undersigned has not engaged in any "directed selling efforts" (as such term is
defined in Regulation S) with respect to the Shares; and

      

      (6)           The
undersigned is purchasing the Shares with investment intent and at present does
not have the intent to sell, dispose of, or otherwise transfer, the
Shares.

      

      Dated
this ____________, 2008

      

      

      By: /s/                                                                      

             Name:
___________________________

      

      
        
           

        

        
          - 6
-

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00145-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00145-of-00352.parquet"}]]