Document:

f20f2010ex4x_djsp.htm

    Exhibit 4.10

     

    CONSULTING
SERVICES AGREEMENT

     

    This
Consulting Services Agreement (this “Agreement”) is
entered into as of January 15, 2010 by and between DAL GROUP, LLC, a Delaware
limited liability company (“DAL”), and Chardan
Capital LLC, (“Consultant”).  DAL
and Consultant are sometimes hereinafter individually as a “Party” and
collectively referred to as the “Parties”.

     

    Background

     

    A. 
 DAL desires to retain the services of Consultant and Consultant desires to
provide services to DAL.

     

    Agreements

     

    1. Provision
of Services.

     

    (a) During
the Term (as defined below), Consultant will provide consulting services with
respect to DAL’s business as the board of managers of DAL may reasonably request
from time to time (the “Services”).  The
Parties agree that each will cooperate with the other regarding the details of
the specific Services to be provided.

     

    (b) Consultant
will devote such time, attention, and energy to the business and affairs of DAL
deemed necessary by Consultant to perform the Services, but in no event will
Consultant be required to devote more than an aggregate of 100 hours per
calendar month.

     

    (c) Consultant
warrants that all Services will be performed in a good, professional,
workmanlike and competent manner, in conformance with all applicable
professional standards and the requirements of this
Agreement.  Consultant agrees to provide the Services in accordance
with applicable polices and procedures of DAL.

     

    (d) Consultant
agrees to provide the Services using personnel reasonably acceptable to
DAL.

     

    2. Compensation.  During
the Term, Consultant shall receive an annual consulting fee of $480,000, paid in
equal monthly installments of $40,000, paid in arrears, commencing on the date
that is thirteen months after the date of this Agreement, and on the same day of
each month thereafter.

     

    3. Term.  The term of
this Agreement (the “Term”) shall commence
on the first anniversary of the date of this Agreement and shall terminate on
the fourth anniversary of the date of this Agreement.

     

    4. Nature of
Relationship.  Consultant shall be deemed to be an independent
contractor and shall not be authorized to manage or direct the management of the
affairs of, act in the name of or bind DAL.  DAL shall not be
obligated to follow or accept any advice or recommendation made by Consultant,
and the management, policies and operations of DAL shall be the sole
responsibility of the management of DAL.  Nothing set forth in this
Agreement shall be deemed to prohibit Consultant from serving any other person
or entity in any capacity Consultant may deem appropriate or from conducting its
business and affairs in any manner it may elect; provided, however, during the
Term, Consultant and its Affiliates will not render services to another person
or entity in a manner that might involve an actual or potential conflict of
interest with respect to DAL or any of its Affiliates.

     

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

    5. Confidentiality.

     

    (a) In
consideration of the payments to be received by Consultant under this Agreement,
in recognition of the highly competitive nature of the industries in which DAL
conducts its business, and to further protect the goodwill of DAL and to promote
and preserve its legitimate business interests, Consultant agrees that
Consultant shall not disclose at any time, except as ordered by a court of
competent jurisdiction, to anyone other than Consultant’s employees, directors,
officers, advisors, agents or controlling persons (it being understood that such
persons (i) will be bound by this Section 5 and that Consultant will inform such
persons of the confidential nature of such information and shall be directed by
Consultant, and each will expressly agree, to treat such information as
confidential in accordance with this Section 5 or (ii) are already bound to
maintain the confidentiality of any such information provided to such persons by
Consultant) any confidential information or trade secret of DAL, its Affiliates
or any customer of DAL or use such confidential information or trade secret for
its or his own benefit or for the benefit of third parties.  If
ordered by a court of competent jurisdiction to disclose confidential
information or trade secrets, Consultant shall provide written notice to DAL of
such order promptly after receipt and shall not comply with such order prior to
providing such notice.

     

    (b) For the
purpose of this Agreement, the term “confidential information” includes
information concerning the business affairs of DAL or its Affiliates, contact
information of current, former or prospective customers, suppliers or clients of
DAL and its Affiliates, planned and potential financial and business plans,
methodologies of doing business, employee lists and telephone numbers, any
information or documents that relate to, refer to, contain, or constitute trade
secrets, and computer/software programs and associated documentation and
material (i) which are proprietary to DAL or its Affiliates or (ii) which are
proprietary to a third party from which DAL has purchased the right to use such
programs or material and with respect to which DAL or its Affiliates are under
an obligation to prevent disclosure to persons not authorized by DAL, its
Affiliates or the third party owner to receive such information.  The
term “confidential information” does not include information which (i) becomes
generally available to the public other than by breach of this Agreement, or
(ii) Consultant learns from a third party without knowledge of a breach of
confidentiality by such third party to DAL or its Affiliates.  The
confidential information shall remain the sole and exclusive property of DAL and
its Affiliates, their respective customers and third party owners
thereof.

     

    (c) Consultant
shall use the confidential information and trade secrets only in connection with
the Services .  Consultant will not copy any of the Confidential
Information for any purpose except with the express consent of
DAL.  Consultant will abide by and be bound by the provisions of any
agreements between DAL, its Affiliates and any of its customers, clients or
other third parties of which Consultant is aware.

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    (d) Upon
termination of this Agreement, or at any other time at DAL’s request, Consultant
agrees to destroy or deliver promptly to DAL all manuals, letters, notes,
notebooks, reports, formulae, computer programs and associated documentation and
material, memoranda, customer’s lists, diskettes or other medium for electronic
storage of information and all other materials and all copies thereof relating
in any way to DAL, its Affiliates, their respective customers or their
respective businesses, in any way obtained by Consultant which are in
Consultant’s possession or under its control, including, but not limited to all
Confidential Information in its possession, and Consultant will not make or
retain any copies of any of the foregoing and will so represent to DAL upon
termination of this Agreement.  Notwithstanding the foregoing,
Consultant need not destroy or deliver to DAL and may retain any materials
required to be maintained pursuant to Consultant’s document retention policies
or that are “backed-up” by Consultant pursuant to normal policies or
procedures.

     

    (e) Consultant
understands that monetary damages alone would be insufficient to make DAL whole
in the event Consultant breaches, or is about to breach, any of the provisions
of this Section
5.  Therefore, Consultant agrees that, in addition to any
monetary damages or other relief to which DAL may be entitled, DAL shall be
entitled to obtain immediate and permanent injunctive relief in the event of any
breach or threatened breach by Consultant of any provision of this Agreement,
without the necessity of proving actual damages or the posting of any bond, and
Consultant waives any requirement for advance notification prior to the entry of
such injunctive relief.  Failure to seek any or all remedies in one
case does not restrict DAL from seeking any remedies in another
situation.  Such action by DAL shall not constitute a waiver of any of
its rights.

     

    6. Entire Agreement;
Amendment.  With respect to the subject matter of this
Agreement, this Agreement supersedes all previous contracts and constitutes the
entire agreement between the Parties.  Neither Party will be entitled
to benefits other than those specified herein.  No prior oral
statements or contemporaneous negotiations or understandings or prior written
material not specifically incorporated herein will be of any force and effect,
and no changes in or additions to this Agreement will be recognized unless
incorporated herein by amendment as provided herein, such amendment(s) to become
effective on the date stipulated in such amendment(s).  No provision
of this Agreement shall be deemed waived, amended, supplemented or modified by
any Party, unless such wavier, amendment, supplement or modification is in
writing and signed by an authorized representative of the Party against whom it
is sought to enforce such waiver, amendment, supplement or
modification.  The Parties specifically acknowledge that, in entering
into and executing this Agreement, the Parties rely solely upon the
representations and agreements contained in this Agreement and no others, other
than agreements or provisions incorporated in this Agreement by
reference.

     

    7. Governing Law; Venue;
Jurisdiction.  This Agreement, and all matters arising under or
related hereto, shall be governed according to the laws of the State of Florida,
without respect to its conflict of law principles.  Each Party hereby
consents to the exclusive jurisdiction of the courts of the State of Florida and
of the United States of America in the County of Broward for any actions, suits
or proceedings arising out of or relating to this Agreement and the transactions
contemplated hereby (and each Party agrees not to commence any action, suit or
proceeding relating thereto except in such courts).

     

    
      
        
        

      

      
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    8. Notices. Any notice, demand,
approval, consent or communication required, permitted, or desired to be given
hereunder, will be in writing and will be served on the Parties at the following
respective addresses:

     

    
      	
              If
      to DAL:

            	
              Law
      Offices of David J. Stern, P.A.

              900
      S. Pine Island Road

              Suite
      400

              Plantation,
      Florida  33324

              ATTN:  David
      J. Stern

              Facsimile:
      954-233-8444

            
	 
      	 
      
	 
      	
              with
      a copy to:

            
	 
      	 
      
	 
      	
              Dykema
      Gossett PLLC

              400
      Renaissance Center

              Detroit,
      MI  48234

              Attn:
      Thomas Vaughn

              Facsimile:  313-568-6915

            
	 
      	 
      
	
              If
      to Consultant:

            	
              Chardan
      Capital, LLC

              Suite
      18E, Tower A

              Oriental
      Kenzo Plaza

              48
      Dongzhimenwai Street

              Beijing,
      100027, China

              Fax
      No.: 86-10-84477246

              Attn:  Li
      Zhang

            
	 
      	 
      
	 
      	
              with
      a copy to:

            
	 
      	 
      
	 
      	
              Loeb
      & Loeb LLP

              345
      Park Avenue

              New
      York, NY 10154

              Attn:  Mitchell
      S. Nussbaum

              Facsimile:  212-407-4990

            
	 
      	 
      

    

    or such
other address, or to the attention of such other person or officer, as any Party
may by written notice designate.  Any notice, demand, or communication
required, permitted, or desired to be given hereunder will be sent either by
hand delivery, by prepaid certified or registered mail, return receipt
requested, postage prepaid in the United States Mail, by a nationally recognized
overnight courier, or via facsimile or other electronic transmission (including
transmission in portable document format by electronic mail).  If any
notice, demand or communication is sent by facsimile or electronic mail
transmission, an original  must be simultaneously sent by one of the
foregoing mail or courier methods.  All such notices, demands or
communications shall be deemed to have been received (i) if by personal
delivery, facsimile machine or other electronic transmission (including
transmission in portable document format by electronic mail), on the date after
such delivery, (ii) if by certified or registered mail, on the third business
day after the mailing thereof or (iii) if by next-day or overnight courier or
delivery, on the date of such delivery.

    

    
      
        
        

      

      
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    9. Severability.  The
Parties have negotiated and prepared the terms of this Agreement in good faith
with the intent that each and every one of the terms, covenants and conditions
herein be binding upon and inure to the benefit of the respective
Parties.  Accordingly, if any one or more of the terms, provisions,
promises, covenants or conditions of this Agreement or the application thereof
to any person or circumstance is adjudged to any extent invalid, unenforceable,
void or voidable for any reason whatsoever by a court of competent jurisdiction
or an arbitration tribunal, such provision will be as narrowly construed as
possible, and each and all of the remaining terms, provisions, promises,
covenants and conditions of this Agreement or their application to other persons
or circumstances will not be affected thereby and will be valid and enforceable
to the fullest extent permitted by law.  To the extent this Agreement
is in violation of any applicable laws, the Parties shall negotiate in good
faith to amend this Agreement, to the extent possible consistent with its
purposes, to conform to applicable laws.  Neither Party shall claim or
assert illegality as a defense to the enforcement of this Agreement or any
provision hereof; instead, any such purported illegality shall be resolved
pursuant to this Section
9.

     

    10. Assignment.  This
Agreement and all of the provisions hereof shall be binding upon and inure to
the benefit of each of the Parties and their respective successors and permitted
assigns.  Any purported assignment in violation of this Section 10 will be
void and of no effect.  Consultant may not delegate the performance of
any Services to be provided under this Agreement to any party, other than one or
more of its Affiliates that normally performs such Services, provided, however,
that notwithstanding the foregoing, Consultant shall remain fully responsible
for compliance with the terms of this Agreement the same as if such delegation
were not effected.

     

    11. Further
Assurances.  Each Party agrees to do and perform, from time to
time, any and all acts and to execute any and all further instruments required
or reasonably requested by the other Party in order to more fully effect the
purposes of this Agreement.

     

    12. No Waiver; Cumulative
Remedies.  No failure to exercise and no delay in exercising,
on the part of a Party, any right, remedy, power or privilege hereunder, shall
operate as a waiver thereof; nor shall any single or partial exercise of any
right, remedy, power or privilege hereunder preclude any other or further
exercise thereof or the exercise of any other right, remedy, power or
privilege.  The rights, remedies, powers and privileges herein
provided are cumulative and not exhaustive of any rights, remedies, powers and
privileges provided by law.

     

    13. Counterparts;
Effectiveness.  The Parties may execute this Agreement in
separate counterparts, each of which shall be deemed an original and all of
which together will constitute one and the same instrument.  To the
extent signed and delivered by means of a facsimile machine or other electronic
transmission (including transmission in portable document format by electronic
mail), this Agreement shall be treated in all manner and respect and for all
purposes as an original and shall have the same binding legal effect as if it
were the original signed version thereof delivered in person.  None of
the undersigned shall raise the use of a facsimile machine or other electronic
transmission to deliver a signature or the fact that such signature was
transmitted or communicated through the use of a facsimile machine or other
electronic transmission as a defense to the enforceability of this Agreement and
each of the undersigned forever waives any such defense.

     

    
      
        
        

      

      
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    14. Definitions
and Construction.  

     

    (a) “Affiliate” means a
person that directly or indirectly, through one or more intermediaries,
controls, is controlled by, or is under common control with, the first mentioned
person.

     

    (b) All
references in this Agreement to “Sections” refer to the sections of this
Agreement. The section headings and titles appearing in this Agreement are
inserted only as a matter of convenience and in no way define, limit, construe,
or describe the scope or extent of such section or in any way affect this
Agreement or the interpretation hereof.

     

    (c) All
references to “$” or “dollars” will be to United States dollars and all
references to “days” will be to calendar days unless otherwise
specified.

     

    (d) As used
in this Agreement, neutral pronouns and any variations thereof shall be deemed
to include the feminine and masculine and all terms used in the singular shall
be deemed to include the plural, and vice versa, as the context may
require.

     

    (e) The words
“hereof”, “herein” and “hereunder” and other words of similar import refer to
this Agreement as a whole, as the same may from time to time be amended or
supplemented, and not to any subdivision contained in this
Agreement.

     

    (f) The word
“including” when used herein is not intended to be exclusive and means
“including, but not limited to.”  The word “or” when used herein is
not intended to be exclusive unless the context clearly requires
otherwise.

     

    (g) All
provisions of this Agreement have been mutually negotiated and
drafted.  The provisions of this Agreement will be interpreted and
construed in accordance with their fair meanings, and not strictly for or
against either Party, regardless of which Party may have drafted this Agreement
or any specific provision.

     

    15. Enforcement.  In the
event either Party resorts to legal action to enforce or interpret any provision
of this Agreement, the prevailing Party will be entitled to recover the costs
and expenses of such action so incurred, including reasonable attorney’s
fees.

     

    [Remainder intentionally left blank;
signature page follows.]

     

     

    

    
      
        
           

        

        
          6

          
            

          

        

        
           

        

      

    

    

    IN
WITNESS WHEREOF, the Parties have executed this Consulting Services Agreement as
of the date first written above.

     

    
      	 
      	
              DAL
      GROUP, LLC

            
	 
      	 
      
	 
      	
              By:  FLATWORLD
      DAL LLC, its Member

            
	 
      	 
      
	 
      	
              By:           NAGINA
      ENGINEERING INVESTMENT

              CORP., its
    Member

            
	 
      	 
      
	 
      	
              By:      
      ____________________________________

            
	 
      	
              Name:  Raj
      K. Gupta

            
	 
      	
              Title:    President

            
	 
      	 
      
	 
      	 
      
	 
      	
              CHARDAN
      CAPITAL LLC

            
	 
      	 
      
	 
      	 
      
	 
      	
              

                By:  
      _____________________________________

              

            
	 
      	 
      	 
      
	 
      	Its:
       
      ______________________________________

    

     

    

    
      
        
           

        

        
          7f20f2010ex4xi_djsp.htm

    Exhibit
4.11

    
 

    WARRANT
SALE AGREEMENT

     

    Warrant Sale Agreement, dated
as of January 15, 2010 (“Agreement”), by and among
Chardan 2008 China Acquisition Corp., a company organized under the laws of the
British Virgin Islands (“Company”), Kerry Propper,
Steve Urbach, Jonas Grossman, Jianghan Huang, Dr. Richard D. Propper, Paula
Beharry, Daniel Beharry, Li Zhang, Michael Walas, Mark Brewer and Ryan Hallman
(collectively “Existing
Shareholders”), ________________ as agent for the Existing Shareholders
(the “Agent”) and the
Law Offices of David J. Stern, P.A., Professional Title and Abstract Company of
Florida, Inc. and Default Servicing, Inc. (collectively, the “Stern
Participants”).

     

    Recital

     

    WHEREAS,
the Existing Shareholders have agreed as a condition of the Stern Participants’
closing the transactions contemplated by the Master Acquisition Agreement dated
December 10, 2009, by and among the Company, the Stern Participants, and other
parties (the “Master
Acquisition Agreement”) to enter into this Agreement.

     

    IT
IS AGREED:

     

    1. Exercise or Sale of
Warrants.  

     

    (a) Following
the later of (i) six (6) months after the Closing and (ii) Registration
Statement Effective Date (the “Trigger Date”), each of the Existing Shareholders
agrees to exercise for cash or sell all of the Private Placement Warrants owned
by them (the “Covered
Warrants”).  The Existing Shareholders shall exercise for cash
or sell on average for each day after the Trigger Date that the last reported
sales price of the Company’s Ordinary Shares on The Nasdaq Stock Market, LLC is
greater than $9.00 (the “Closing Price Threshold”) a
number of Covered Warrants equal to the greater of (A) ten (10%) percent of the
ADTV of the Company’s Ordinary Shares for each day after the Trigger Date that
the Closing Price Threshold was satisfied or (B) 50,000 Covered
Warrants.  The average daily number of Covered Warrants exercised for
cash or sold shall be measured on a weekly basis beginning with the week in
which the Closing Price Threshold is first met after the Trigger Date and on a
cumulative basis each week thereafter.  Sales of Covered Warrants
shall be included as sales for purposes of the foregoing calculation, whether
sold in a reported transaction or in a private placement
transaction.

     

    (b) The
Existing Shareholders shall coordinate their exercises and sales of the Covered
Warrants so as to satisfy the requirements of Section 1(a) as
follows:

     

    (i) Immediately
following the Trigger Date, each Existing Shareholder shall notify the Agent in
writing of the (A) number of Covered Warrants they elect to exercise with cash
from the sale of other such Covered Warrants (the “Cashless Exercise Warrants”);
(B) the number of such Warrants they elect to exercise from other cash resources
and the date on which they intend to exercise such Warrants; and (C) the number
of such Warrants they direct the Agent to sell on their behalf (the “Sale
Warrants”).  If, based upon the notices received by the Agent
from the Existing Shareholders, the Agent determines that the Existing
Shareholders will not be able to satisfy their obligations under Section 1, it
shall revise the desired sales and exercises by the Existing Shareholders as it
deems appropriate to allow the Existing Shareholders to satisfy their
obligations under Section 1 and so shall notify the Existing Shareholders of
revisions to their notices.  Each Existing Shareholder may change such
designation from time to time by written notice to the Agent; provided that such
change does not adversely impact the ability of the Existing Shareholders to
satisfy their obligations under Section 1, as determined in the sole discretion
of the Agent.

     

    
      
        
        

      

      
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    (ii) The Agent
shall coordinate the sale of the Sale Warrants by the Existing Shareholders so
as to satisfy the requirements of Section 1(a), when taken in conjunction with
Covered Warrants exercised by the Existing Shareholders.

     

    (iii) To the
extent an Existing Shareholder elects to exercise Cashless Exercise Warrants,
the proceeds from the first Covered Warrants owned by that Existing Shareholder
sold by the Agent shall be used to exercise such Warrants on behalf of the
Existing Shareholder.

     

    (iv) The Agent
shall sell Covered Warrants in such order, numbers, proportions, times, prices,
manner, including private sales, market trades or block purchases, and other
terms as the Agent shall determine in its sole discretion, and the Agent is not
required to sell Covered Warrants on a proportionate basis among the Existing
Shareholders.

     

    (v) If an
Existing Shareholder fails to exercise a Covered Warrant within seven (7) days
after the date indicated in its written notice, the Agent is authorized to sell
those Covered Warrants on behalf of the Existing Shareholder.

     

    (vi) The Agent
will remit net proceeds from the sale of Covered Warrants directly to the
Existing Shareholders who own such Warrants.

     

    (c) A sale to
a Permitted Transferee shall not be deemed to be a sale for purposes of this
Agreement.

     

    (d) Each of
the Existing Shareholders shall not exercise any of the Private Placement
Warrants held by them, except for cash.

     

    (e) The
Existing Shareholders will sell the Covered Warrants only to persons who agree
in writing to exercise such warrants within fifteen (15) days after they
purchase such warrants from the Existing Shareholders and will
cooperate with the Stern Participants as is reasonably necessary to enforce such
obligation.

     

    (f) To the
extent permitted by applicable law, the Company agrees to allow the Agent to pay
the exercise price of the Covered Warrants sold for its own account or for the
accounts of the Existing Shareholders by delivery of a binding written
commitment, in a form reasonably acceptable to the Company, to pay the exercise
price of the Covered Warrants being exercised within fifteen (15) days following
the delivery of the subscription form required for the exercise of the
warrant.

     

    
      
        
        

      

      
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    (g) The
Company agrees that as promptly as possible following the closing of the
transactions contemplated by the Master Acquisition Agreement, the Company shall
file with the SEC the registration statement described in the definition of
Registration Statement Effective Date and shall take such actions as are
necessary to qualify for sale the securities covered by such registration
statement in those states in which the such securities were initially offered by
the Company.  The Company shall cause the such registration statement
to become effective as soon as is reasonably possible and to maintain the
effectiveness of such registration statement until at least the Termination
Date.

     

    2. Transfer
Restrictions.  The Existing Shareholders shall not transfer or
assign any of the Covered Warrants owned by them to a Permitted Transferee
unless the Permitted Transferee agrees in writing to be bound by the terms and
conditions of this Agreement.

     

    3. Amendments to
Warrants.  The Existing Shareholders will not agree to any
amendments to the Private Placement Warrants without the consent of the Stern
Participants.

     

    4. Escrow.  Prior
to the Termination Date, the outstanding Private Placement Warrants shall be
held in escrow pursuant to the terms of the Private Placement  Warrant
Escrow Agreement, as amended as set forth in Exhibit
B hereto.

     

    5. Share
Issuance.  In consideration for the Existing Shareholders
entering into this Agreement, effective as of the date of the exercise for cash
or sale of each Covered Warrant prior to the Termination Date, .116505 Ordinary
Shares of the Company for each such warrant so exercised or sold will be issued
as directed by the Agent to the Existing Shareholders (the number of shares
issued to each Existing Shareholders to be determined by the Agent in its sole
discretion) pursuant to written instructions provided by the Agent to the
Company (the “Additional
Shares”).  Additional Shares shall be issued to the Existing
Shareholders promptly following the end of each calendar quarter, based on the
number of Covered Warrants exercised or sold by the Existing Shareholders during
such calendar quarter.  The Company shall not be required to issue
fractional Ordinary Shares and any such fractional amount shall be carried over
to the next issuance to the Existing Shareholders or, if earlier, will lapse at
the Termination Date.

     

    6. Representations and
Warranties.  Each Existing Shareholder hereby represents and
warrants to the Company and the Stern Participants that:

     

    (a) The
Existing Shareholder owns all of the Private Placement Warrants listed next to
his or her name on Exhibit
A.

     

    (b) The
execution and delivery by the Existing Shareholder of this Agreement and the
fulfillment of and compliance with the respective terms hereof by the Existing
Shareholder does not conflict with or result in a breach of the terms,
conditions or provisions of any other agreement, instrument, order, judgment or
decree to which the Existing Shareholder is subject.

     

    (c) The
Existing Shareholder is an “accredited investor” as that term is defined in Rule
501 of Regulation D promulgated under the Securities Act of 1933, as amended
(the “Securities
Act”).

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    (d) The
Additional Shares are being acquired for the Existing Shareholder’s own account,
only for investment purposes and not with a view to, or for resale in connection
with, any distribution or public offering thereof within the meaning of the
Securities Act.

     

    (e) The
Existing Shareholder has the full right, power and authority to enter into this
Agreement and this Agreement is a valid and legally binding obligation of the
Existing Shareholder enforceable against the Existing Shareholder in accordance
with its terms.

     

    (f) The
Existing Shareholder understands that no United States federal or state agency
or any other government or governmental agency has passed on or made any
recommendation or endorsement of the securities of the Company or the fairness
or suitability of the investment in the securities of the Company nor have such
authorities passed upon or endorsed the merits of the offering of the securities
of the Company.

     

    7. Registration
Rights.  The Existing Shareholders shall have registration
rights relating to the Additional Shares pursuant to the Registration Rights
Agreement, dated as of ________, 2008, by and among the Company and the persons
listed on the signature page thereto, as amended, as if registration rights for
the Additional Shares were originally included therein.

     

    8. Legends;
Denominations.

     

    (a) Legend.  The
Company will issue the Additional Shares in the name of the Existing
Shareholders and in such denominations to be specified by the
Agent.  Certificates representing the Additional Shares will bear the
following legend and appropriate “stop transfer” instructions will be provided
to the Company’s transfer agent:

     

    THE
SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT
OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE SECURITIES LAWS AND
NEITHER THE SECURITIES NOR ANY INTEREST THEREIN MAY BE OFFERED, SOLD,
TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED OF EXCEPT PURSUANT TO AN EFFECTIVE
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR SUCH LAWS OR AN EXEMPTION
FROM REGISTRATION UNDER THE SECURITIES ACT AND SUCH LAWS WHICH, IN THE OPINION
OF COUNSEL FOR THIS CORPORATION, IS AVAILABLE.

     

    9. Governing
Law.  This Agreement shall for all purposes be deemed to be
made under and shall be construed in accordance with the laws of the State of
New York.  Each of the parties hereby agrees that any action,
proceeding or claim against it arising out of or relating in any way to this
Agreement shall be brought and enforced in the courts of the State of New York
in the Untied States District Court for the Southern District of New York, and
irrevocably submits to such jurisdiction, which jurisdiction shall be
exclusive.  Each of the parties hereby waives any objection to such
exclusive jurisdiction and that such courts represent an inconvenient
forum.  Any such process or summons to be served upon any of the
parties hereto 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 14 hereof.  Such mailing shall be
deemed personal service and shall be legal and binding upon each of the parties
hereto in any action, proceeding or claim.

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

    10. Amendments.  This
Agreement may not be modified or changed without the prior written consent of
each of the parties to this Agreement.

     

    11. Entire
Agreement.  This Agreement contains the entire agreement of the
parties hereto with respect to the subject matter hereof and, except as
expressly provided herein, may not be changed or modified except by an
instrument in writing signed by the party to be charged.

     

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

     

    13. Binding
Effect.  This Agreement shall be binding upon and inure to the
benefit of the respective parties hereto and their legal representatives,
successors and assigns.

     

    14. Notices.  Any
notice or other communication required or which may be given hereunder shall be
in writing and either be delivered personally or by private national courier
service, or be mailed, certified or registered mail, return receipt requested,
postage prepaid, and shall be deemed given when so delivered personally or, if
sent by private national courier service, on the next business day after
delivery to the courier, or, if mailed, two days after the date of mailing, as
follows:

     

    
      	 
      	
              If
      to the Company to:

            
	 
      	 
      	 
      
	 
      	 
      	
              Chardan
      2008 China Acquisition Corp.

              c/o
      Chardan Capital, LLC

              474
      Three Mile Road

              Glastonbury,
      CT 06033

              Attn:  Dan
      Beharry

              Facsimile:  (281)
      644-5751

              email:
      dbeharry@chardancapital.com

               

            
	 
      	
              with
      a copy to (which shall not constitute notice):

            
	 
      	 
      	 
      
	 
      	 
      	
              Loeb
      & Loeb LLP

              345
      Park Avenue

              New
      York, NY 10154

              Attn:  Mitchell
      S. Nussbaum

              Facsimile:  212-407-4990

              email:
      mnussbaum@loeb.com

            
	 
      	 
      
	 
      	
              If
      to an Existing Shareholder, to his or her address as set forth in Exhibit
    A.

            
	 
      	 
      	 
      
	 
      	
              If
      to the Stern Participants:

            
	 
      	 
      
	 
      	 
      	
              c/o
      David J. Stern

              900
      S. Pine Island Road

              Suite
      400

              Plantation,
      FL 33324

              Facsimile:  (954)
      233-8444

            
	 
      	 
      	 
      
	 
      	
              with
      a copy (which shall not constitute notice) to:

            
	 
      	 
      	 
      
	 
      	 
      	
              Dykema
      Gossett PLLC

              400
      Renaissance Center

              Detroit,
      MI 48243

              Attn:  Thomas
      Vaughn

              Facsimile:  (313)
      568-6915

              Email:  tvaughn@dykema.com

            
	 
      	 
      	 
      

    

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

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

     

    16. Attorney’s
Fees.  In the event that any suit or action is instituted to
enforce any provision in this Agreement, the prevailing party in such dispute
shall be entitled to recover from the losing parties all fees, costs and
expenses of enforcing any right of such prevailing party under or with respect
to this Agreement, including without limitation, such reasonable fees and
expenses of attorneys and accountants, which shall include, without limitation,
all fees, costs and expenses of appeals.

     

    17. Termination.  The
Existing Shareholders’ obligations under this Agreement shall terminate upon the
earlier of (i) payment in full of the Stern Deferral Note, Post-Closing Cash,
the FlatWorld Warrant Proceeds, the FlatWorld Additional Warrant Proceeds, the
Chardan Capital Fee and the Deferral Notes or (ii) the shareholders of the
Company becoming subject to Section 16 of the Securities Exchange Act of 1934
(the “Termination Date”).

     

    18. Appointment of
Agent.

     

    (a) Each
Existing Shareholder irrevocably constitutes and appoints Agent as such Existing
Shareholder’s true and lawful agent, proxy and attorney-in-fact and authorizes
Agent acting for such Existing Shareholder and in such Existing Shareholder
name, place and stead, in any and all capacities, to do and perform every act
and thing required or permitted to be done by such Existing Shareholder or Agent
hereunder or otherwise in connection with the agreements and transactions
contemplated by this Agreement, as fully to all intents and purposes as such
Existing Shareholder might or could do in person, including without
limitation:

     

    (i) Direct
the escrow agent under the Private Placement Warrant Escrow Agreement to release
Existing Shareholder’s Warrants held thereunder upon their sale pursuant to the
terms of this Agreement.

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

    (ii) Take any
and all action on behalf of such Existing Shareholder as Agent may deem
necessary or desirable to effect this Agreement; and

     

    (iii) Engage
and employ agents and representatives (including accountants, legal counsel and
other professionals), which may include affiliates of the Agent, and to incur
such other expenses as Agent deems necessary or prudent in connection with the
administration of the foregoing, including customary brokerage fees and
commissions.

     

    (b) Each
Existing Shareholder grants unto Agent full power and authority to do and
perform each and every act and thing necessary or desirable to be done in
connection with the transactions contemplated by this Agreement, as fully to all
intents and purposes as such Agent might or could do in person, hereby ratifying
and confirming all that Agent may lawfully do or cause to be done by virtue
hereof.  Each Existing Shareholder will, by executing this Agreement,
agree that such agency, proxy and power of attorney are coupled with an
interest, and are therefore irrevocable without the consent of Agent and the
Stern Participants and shall survive the death, incapacity, or bankruptcy of
such Existing Shareholder.  Each Existing Shareholder acknowledges and
agrees that upon execution of this Agreement, the Existing Shareholder shall be
bound by any delivery by Agent of any waiver, amendment, agreement, opinion,
certificate or other documents executed by Agent or any decisions made by Agent
pursuant to this Agreement as fully as if such Existing Shareholder had executed
and delivered such documents and made such decisions.

     

    (c) Agent
shall not have by reason of this Agreement a fiduciary relationship in respect
of any Existing Shareholder, except in respect of amounts received on behalf of
such Existing Shareholder.  Agent shall not be liable to any Existing
Shareholder for any action taken or omitted by Agent or any agent employed by it
hereunder or under or in connection with the transactions contemplated by this
Agreement, except that Agent shall not be relieved of any liability imposed by
law for gross negligence or willful misconduct.  Agent shall not be
liable to any Existing Shareholder for any apportionment or distribution of
payments made by it in good faith, and if any such apportionment or distribution
is subsequently determined to have been made in error the sole recourse of any
Existing Shareholder to whom payment was due, but not made, shall be to recover
from any other Existing Shareholder any payment in excess of the amount of which
they are determined to have been entitled.  Agent shall not be
required to make any inquiry concerning either the performance or observance of
any of the terms, provisions or conditions of this Agreement.

     

    19. Definitions.  The
capitalized terms used in this Agreement shall have the meaning set forth
below.

     

    (a) “ADTV”
means the daily trading volume for the Company’s Ordinary Shares.

     

    (b) “Additional
Shares” is defined in Section 5.

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

    (c) “Agent”
means ______________.

     

    (d) “Agreement”
is defined in the Preamble.

     

    (e) “Cashless
Exercise Warrants” is defined in Section 1(b).

     

    (f) “Chardan
Capital Fee” is defined in the Contribution Agreement.

     

    (g) “Closing”
is defined in the Contribution Agreement.

     

    (h) “Closing
Price Threshold” is defined in Section 1(a).

     

    (i) “Company”
is defined in the Preamble.

     

    (j) “Contribution
Agreement” means the Contribution and Membership Purchase Agreement dated
January 15, 2010.

     

    (k) “Covered
Warrants” is defined in Section 1(a).

     

    (l) “Deferral
Notes” is defined in the Contribution Agreement.

     

    (m) “Existing
Shareholders” is defined in the Preamble.

     

    (n)  “FlatWorld
Additional Warrant Proceeds” is defined in the Contribution
Agreement.

     

    (o) “FlatWorld
Warrant Proceeds” is defined in the Contribution Agreement.

     

    (p) “Master
Acquisition Agreement” is defined in the Recitals.

     

    (q) “Permitted
Transferee” is defined in the Private Placement Warrant Escrow
Agreement.

     

    (r) “Post-Closing
Cash” is defined in the Contribution Agreement.

     

    (s) “Private
Placement Warrants” is defined in the Private Placement Warrants Escrow
Agreement.

     

    (t) “Private
Placement Warrant Escrow Agreement” means the Securities Escrow Agreement dated
________, 2008, by and among Chardan and
certain of the Existing Shareholders.

     

    (u) “Registration
Statement Effective Date” means the date that the registration statement
required to effect the registration of (i) the Private Placement Warrants that
have not previously been registered with the SEC, and under applicable state
securities laws, for resale, and (ii) the Ordinary Shares issuable upon exercise
of those Warrants that have not previously been registered for issuance upon
such exercise, becomes effective with the SEC.

     

    (v) “Representatives”
is defined in the Securities Escrow Agreement.

     

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

    (w) “Sale
Warrants” is defined in Section 1(b).

     

    (x) “SEC”
means the United States Securities and Exchange Commission.

     

    (y) “Securities
Act” is defined in Section 6(c).

     

    (z) “Stern
Deferral Note” is defined in the Contribution Agreement.

     

    (aa)  “Stern
Participants” is defined in the Preamble.

     

    (bb) “Termination
Date” is defined in Section 17.

     

    (cc) “Trigger
Date” is defined in Section 1(a).

     

    [REMAINDER
OF PAGE

    INTENTIONALLY
LEFT BLANK]

     

    
      
         

      

      
        9

        
          

        

      

      
         

      

    

    IN
WITNESS WHEREOF, the execution of this Warrant Exercise Agreement as of the date
first above written.

     

    
      	 
      	
              CHARDAN
      2008 CHINA ACQUISITION CORP.

               

            
	 
      	
              By:

            	 
      
	 
      	 
      	
              Name:  Kerry
      Propper

              Title:  Chief
      Executive Officer

               

            
	 
      	
              LAW
      OFFICES OF DAVID J. STERN, PA

            
	 
      	
              By:

            	 
      
	 
      	 
      	
              Name:  David
      J. Stern

              Title:  President

               

            
	 
      	
              PROFESSIONAL
      TITLE AND ABSTRACT COMPANY OF FLORIDA, INC.

               

            
	 
      	
              By:

            	 
      
	 
      	 
      	
              Name:  David
      J. Stern

              Title:  President

               

            
	 
      	
              DEFAULT
      SERVICING, INC.

               

            
	 
      	
              By:

            	 
      
	 
      	 
      	
              Name:  David
      J. Stern

              Title:  President

            

    

    

    
      
         

      

      
        10

        
          

        

      

      
         

      

    

    [Only
those Existing Stockholders agreeing to be party to this Agreement shall execute
it.  Any signature block for an Existing Stockholder who chooses not
to enter into this agreement shall be deleted]

    
      	 
      	
              EXISTING
      SHAREHOLDERS

            
	 
      	 
      
	 
      	
              Kerry
      Propper

            
	 	 
	 
      	
              Steve
      Urbach

            
	 	 
	 
      	
              Jonas
      Grossman

            
	 	 
	 
      	
              Jiangnan
      Huang

            
	 	 
	 
      	
              Dr.
      Richard D. Propper

            
	 	 
	 
      	
              Paula
      Beharry

            
	 	 
	 
      	
              Daniel
      Beharry

            
	 	 
	 
      	
              Li
      Zhang

            
	 	 
	 
      	
              Li
      Gong

            
	 	 
	 
      	
              Dr.
      Jianjun Shi

            
	 	 
	 
      	
              Xiaosong
      Zhong

            
	 	 
	 
      	
              Michael
      Walas

            
	 	 
	 
      	
              Mark
      Brewer

            
	 	 
	 
      	
              Ryan
      Hallman

            

    

    

    

      
        
           

        

        
          11

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