Document:

REGISTRATION
      RIGHTS AGREEMENT

    

    

    This
      Registration Rights Agreement (the “Agreement”)
      is
      entered into as of this ____ day of April, 2008, by and between Zulu Energy
      Corp., a Colorado corporation (the “Company”),
      and
      the persons designated as the investors on the signature pages of this Agreement
      (the “Investors”).
      

     

    WHEREAS,
      Investors have agreed to purchase from the Company the number of shares of
      common stock (in the aggregate, the “Shares”)
      and
      warrants to purchase shares of common stock (in the aggregate, the “Warrants”,
      and
      together with the Shares, the “Securities”)
      of the
      Company that is indicated on the signature pages of the respective Investors,
      pursuant to a Subscription Agreement dated as of the date set forth on the
      Company’s signature page to this Agreement (the “Subscription
      Agreement”);
      

     

    WHEREAS,
      as an inducement to the Investors to purchase the Securities, the Company has
      agreed to grant to the Investors certain registration rights covering resales
      of
      the Shares and the shares of common stock issuable upon exercise of the Warrants
      by the Investors in non-underwritten transactions; 

     

    WHEREAS,
      the Investors and the Company desire to enter into this Agreement providing
      for
      matters relating to such registration; and 

     

    WHEREAS,
      pursuant to the Subscription Agreement, that Investors also have the right
      under
      certain circumstances to participate in a Subsequent Financing (as defined
      therein);

     

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

     

    1.  Company
      Registration.
      If (but
      without any obligation to do so) at any time prior to the third anniversary
      of
      this Agreement, the Company proposes to register any of its securities under
      the
      Securities Act of 1933, as amended (the “Act”),
      in
      connection with the public offering of such securities solely for cash (other
      than a registration on Form S-4, Form S-8 or any form which does not include
      substantially the same information as would be required to be included in a
      registration statement covering the sale of the Registrable Securities (as
      defined in Section 1(a) below)), the Company shall, each such time,
      promptly give each Investor written notice of such registration. Upon the
      written request of an Investor given within twenty (20) days after receipt
      of
      such written notice from the Company, the Company shall cause to be included
      in
      the registration statement all of the Registrable Securities that the Investor
      has requested to be registered (a “Piggyback
      Registration Statement”);
      provided, however, that if the managing underwriter of any underwritten offering
      by the Company expresses reasonable written objection to the registration of
      all
      of the Registrable Securities, then the Registrable Securities which shall
      be
      registered in such offering on behalf of holders of Registrable Securities
      shall
      be reduced in the proportion equal to the average proportion of reduction as
      that of all such holders seeking registration in connection with such offering,
      subject to any rights granted to other holders of securities of the Company
      that
      are expressly by the terms of their agreements with the Company entitled to
      have
      priority registration rights. If, at any time after giving written notice of
      its
      intention to register any such Registrable Securities and prior to the effective
      date of the Piggyback Registration Statement filed in connection with such
      registration, the Company shall determine for any reason not to register or
      to
      delay registration of such Registrable Securities, the Company may, at its
      election, give written notice of such determination to each Investor and,
      thereupon, in the case of a determination not to register, the Company need
      not
      register any Registrable Securities in connection with such
      registration.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

       

      (a)  For
        purposes of this Agreement, “Registrable
        Securities”
        means
        all of the Shares, together with any shares of common stock issuable upon
        exercise of the Warrants, and any shares of common stock issued or issuable
        with
        respect to the Shares as a result of any stock split, dividend or other
        distribution, recapitalization or similar event with respect to the
        Shares.

    

     

    2.  Mandatory
      Registration.
      If the
      Company does not consummate a Subsequent Financing within one hundred twenty
      days of the closing of the Offering (as defined in the Subscription Agreement),
      then, unless the Registrable Securities are eligible for resale pursuant to
      Rule
      144, the Investors shall have have the registration rights provided by this
      Section 2.

     

    (a)  Filing
      of Registration Statement.
      The
      Company shall file a shelf registration statement under the Act, on Form S-3
      (subject to the last sentence of this Section 2(a)) to register resales or
      other
      dispositions of Registrable Securities by Investors in non-underwritten
      transactions (the “Mandatory
      Registration Statement”).
      The
      Company shall file the Mandatory Registration Statement as soon as practicable
      after the date that is the six month anniversary of the closing of the Offering
      and in no event more than 30 days thereafter, and such Mandatory Registration
      Statement shall not include any securities other than Registrable Securities.
      In
      the event that Form S-3 is not available for the registration of the resale
      of
      Registrable Securities hereunder, the Company shall (i) register the resale
      of
      the Registrable Securities on another appropriate form reasonably acceptable
      to
      the holders of at least a majority of the Registrable Securities and (ii)
      undertake to register the Registrable Securities on Form S-3 as soon as such
      form is available, provided that the Company shall maintain the effectiveness
      of
      the Mandatory Registration Statement then in effect until such time as a
      Mandatory Registration Statement on Form S-3 covering the Registrable Securities
      has been declared effective by the Commission (as defined below).

     

    (b)  Effectiveness
      of Registration Statement.
      The
      Company shall use its best efforts to cause the Mandatory Registration Statement
      to become effective under the Act as soon as practicable after the filing of
      the
      Mandatory Registration Statement. In addition, the Company shall file,
      during the
      period specified in Section 7(i),
      a post
      effective amendment to the
      Mandatory Registration Statement containing
      the information required by Regulation S-K, Item 512(a)(1)(i)-(iii). In the
      event that during the period specified in Section 7(i), the Company ceases
      to be
      eligible to use Form S-3, the Company will promptly file a new registration
      statement on the form for which it is then eligible.

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

       

    

    3.  State
      Registration or Qualification.
      The
      Company shall use its commercially reasonable efforts to register or qualify
      the
      Registrable Securities covered by the Mandatory Registration Statement or the
      Piggyback Registration Statement (collectively, the “Registration
      Statement”),
      as the
      case may be, for public sale under the securities or blue sky laws of the
      respective states of principal residence of the Investors and such other states
      that are reasonably designated by any of them in writing as a state in which
      sales of the Registrable Securities may be made, if such registration or
      qualification is necessary; provided, however, that the Company shall not be
      required by this Section 3 to qualify to do business as a foreign corporation
      or
      otherwise to subject itself to taxation therein, or to file any general consent
      to service of process in any state.

     

    4.  Delivery
      of Prospectuses; Suspension of Sales.
      The
      Company shall provide to the Investors the number of prospectuses relating
      to
      the Registrable Securities as the Investors shall each reasonably request to
      enable the Investors to comply with any applicable prospectus delivery
      requirements. If, during the effectiveness of the Registration Statement, an
      intervening event should occur that, in the good faith opinion of the Company’s
      Board of Directors and the Company’s counsel, makes the prospectus included in
      the Registration Statement no longer comply with the Act, after notice from
      the
      Company to the Investors of the occurrence of such an event, the Investors
      shall
      make no further sales or other dispositions, or offers therefor, of Registrable
      Securities under the Registration Statement until they receive from the Company
      notice that sales and dispositions, and offers therefor, may resume and, if
      the
      prospectus has been changed other than by the filing of a report that is
      incorporated therein by reference without any other revision, copies of a new,
      amended or supplemented prospectus complying with the Act, unless the
      Commission’s rules do not then require physical delivery of such new, amended or
      supplemented prospectus. The Company shall keep the Investors fully informed
      as
      to the status of its efforts, which shall be prompt and diligent, to cause
      such
      new, amended or supplemented prospectus to be available for use by the
      Investors, in each such case as soon as practicable and in no event more than
      25
      days following such notice.

     

    5.  Expenses
      of Registration.
      The
      Company shall bear all of the expenses of registration or qualification of
      the
      Registrable Securities under the Act and under the state securities or blue
      sky
      laws as provided in Section 3 hereof; provided, however, that each Investor
      shall bear its own selling expenses or commissions attributable to the
      Registrable Securities being sold by such Investor and shall bear fees and
      expenses of its own counsel, if any.

     

    6.  Information
      to be Furnished by Investor.
      Each
      Investor shall furnish in writing to the Company all information within such
      Investor’s possession or knowledge required by the applicable rules and
      regulations of the Securities and Exchange Commission (“SEC or Commission”),
      including the information specified by Items 507 and 508 of Regulation S-K
      under
      the Act.

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

       

    

    7.  Procedures.
      The
      Company shall (a) notify the Investors by the end of the business day following
      the day on which it receives notice thereof, of the time when the Registration
      Statement has become effective or any supplement to any prospectus forming
      a
      part of the Registration Statement has been filed; (b) notify the Investors
      promptly of any request by the Commission for the amending or supplementing
      of
      the Registration Statement or prospectus or for additional information and
      shall
      use its best efforts to file any such amendment or supplement within 10 days,
      and in no event more than 20 days, after such request or receipt of comments
      from the Commission’s staff (adding to each such number of days any delay
      exceeding five days caused by the Investors in submitting, following written
      request therefor made by the Company, any information required from them to
      prepare such amendment or supplement); (c) prepare and file with the Commission,
      promptly upon any Investor’s request, any amendment or supplement to such
      Mandatory Registration Statement or prospectus which, in the opinion of counsel
      for the Investor and counsel for the Company, may be necessary or desirable
      in
      connection with the distribution of the Registrable Securities by such Investor;
      (d) prepare and promptly file with the Commission, and promptly notify the
      Investors of the filing of, such amendment or supplement to the Registration
      Statement or prospectus as may be necessary to correct any misstatement or
      omission, if at any time when a prospectus relating to the Registrable
      Securities is required to be delivered under the Act, any event shall have
      occurred as a result of which any such prospectus would include an untrue
      statement of a material fact or omit to state any material fact necessary to
      make the statements therein not misleading and such filing shall be made
      promptly by the Company but in no event later than the time limitation set
      forth
      in Section 4; (e) in case the Investor is required to deliver a prospectus,
      at a
      time when the prospectus then in effect may no longer be used under the Act,
      prepare promptly upon request such amendment or amendments to the Registration
      Statement and such prospectus or prospectuses as may be necessary to permit
      compliance with the requirements of Section 10 of the Act subject to clause
      (i)
      below; (f) not file any amendment or supplement to the Mandatory Registration
      Statement or prospectus to which any Investor shall reasonably object after
      having been furnished a copy at a reasonable time prior to the filing thereof;
      (g) advise the Investors promptly after it shall receive notice or obtain
      knowledge thereof of the issuance of any stop order by the Commission suspending
      the effectiveness of the Registration Statement or the initiation or threatening
      of any proceeding for that purpose and promptly use its best efforts to prevent
      the issuance of any stop order or to obtain its withdrawal if such stop order
      should be issued; (h) furnish to the Investors as soon as available copies
      of
      the Registration Statement and each preliminary or final prospectus, or
      supplement required to be prepared, pursuant to Section 4 or this Section 7,
      all
      in such quantities as the Investors may from time to time reasonably request;
      (i) keep the Mandatory Registration Statement effective for a period of one
      year
      from the Closing Date (as defined in the Subscription Agreement) plus a number
      of days equal to the number of days, if any, during which the Investors’ right
      to offer and sell such Registrable Securities shall have been suspended pursuant
      to the provisions of Section 4 hereof (which number of days shall in no event
      exceed 60 days during any period of 12 months), or until the intended
      distribution of Registrable Securities is completed by all Investors, whichever
      occurs first; and the Company may after such period deregister any of the
      Registrable Securities remaining unsold if the Company elects to do so or if
      the
      Commission or its staff so requests; and (j) if any of the Company’s shares of
      common stock are then listed on any securities exchange(s), the Company will
      cause all shares covered by the Registration Statement to be listed on such
      exchange(s), as the case may be. By 9:30 am Eastern Time on the business day
      following the date on which the Commission declares the Mandatory Registration
      Statement effective, the Company shall file with the Commission in accordance
      with Rule 424 under the Act the final prospectus to be used in connection with
      sales pursuant to such Demand Registration Statement. The Company shall promptly
      furnish to each Investor that so requests in writing and its legal counsel,
      without charge, copies of any correspondence from the SEC or the staff of the
      SEC to the Company or its representatives relating to the Mandatory Registration
      Statement, the prospectus contained therein or any amendment or supplement
      to
      either of them.

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

       

    

    8.  Indemnification
      by Company.
      The
      Company will, to the maximum extent permitted by law, indemnify and hold
      harmless the Investors, the directors, officers, partners, members, employees,
      agents, representatives of, and each Person, if any, who controls an Investor
      within the meaning of the Act, against any losses, claims, damages, or
      liabilities, joint or several, to which such Investor or such other Person
      may
      become subject, under the Act or otherwise, insofar as such losses, claims,
      damages or liabilities (or actions in respect thereof) are caused by any untrue
      statement or alleged untrue statement of any material fact contained in the
      Registration Statement, any prospectus relating thereto, or any amendment or
      supplement thereof, or arising out of or based upon the omission or alleged
      omission to state therein a material fact required to be stated therein or
      necessary to make the statements therein not misleading or a violation or
      alleged violation by the Company of: (i) the Securities Act, (ii) the Securities
      Exchange Act of 1934, as amended, (iii) any other law relating to the offer
      or
      sale of the Registrable Securities pursuant to the Registration Statement
      (including, without limitation, any state securities law or any rule or
      regulation thereunder), (iv) any prospectus relating thereto, or (v) any
      amendment or supplement thereof; and will reimburse such Investor and each
      such
      other Person for any legal or other expenses incurred by such Investor or such
      other Person in connection with investigating or defending against any such
      loss, claim, damage, liability or action; provided, however, that the Company
      will not be liable in any such case to an Investor or such other Person to
      the
      extent that any such loss, claim, damage, expense or liability arises out of,
      or
      is based upon, an untrue statement or alleged untrue statement or omission
      or
      alleged omission so made in reliance upon and in conformity with information
      that has been furnished in writing by such Investor in accordance with Section
      6
      expressly for use in connection with the preparation of the Registration
      Statement; provided further, that the Company shall not be required to provide
      such indemnification to such Investor or such other Person if such loss, claim,
      damage or liability (or action in respect thereof) arises out of or is based
      upon an untrue statement or alleged untrue statement or omission or alleged
      omission made in any preliminary prospectus and if, in respect to such
      statement, alleged statement, omission or alleged omission, the final prospectus
      corrected such statement, alleged statement, omission or alleged omission and
      a
      copy of such final prospectus had not been sent or given by such Investor or
      such other Person (but only if they were required to do so under applicable
      law)
      at or prior to the confirmation of the sale by such Investor or such other
      Person with respect to which such loss, claim, damage, expense or liability
      relates. The Company shall reimburse each Investor and each such other Persons,
      promptly as such expenses are incurred and are due and payable, for any legal
      fees or other reasonable expenses incurred by them in connection with
      investigating or defending any such loss, claim, damage, expense or
      liability.

     

    9.  Indemnification
      by Investors.
      Each
      Investor shall (severally and not jointly), to the maximum extent permitted
      by
      law, indemnify and hold harmless the Company, each of its directors, each of
      its
      officers who has signed the Registration Statement, and each employee, agent,
      representative of and each person, if any, who controls the Company, within
      the
      meaning of the Act, against any loss, claim, damage or liability of which the
      Company, or any such director, officer or other person may be or become subject
      under the Act or otherwise, insofar as such loss, claim, damage or liability (or
      action in respect thereof) is caused by any untrue or alleged untrue statement
      of any material fact contained in the Registration Statement, such prospectus,
      or amendment or supplement thereof, or arises out of or is based upon the
      omission or the alleged omission to state therein a material fact required
      to be
      stated therein or necessary to make the statements therein not misleading;
      in
      each case to the extent, but only to the extent, that such untrue statement
      or
      alleged untrue statement or omission or alleged omission relates to the
      information that has been furnished in writing by such Investor in accordance
      with Section 6 expressly for use in connection with the preparation of the
      Registration Statement; provided, however, that the indemnity agreement
      contained in this Section 9 and the agreement with respect to contribution
      contained in Section 11 shall not apply to amounts paid in settlement of any
      such loss, claim, damage, expense or liability if such settlement is effected
      without the prior written consent of such Investor, which consent shall not
      be
      unreasonably withheld or delayed.

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

       

    

    10.  Notice
      to Indemnitor.
      Promptly after receipt by an indemnified party of notice of the commencement
      of
      any action, claim or proceeding, such indemnified party will, if a claim thereof
      is to be made against the indemnifying party pursuant hereto, notify the
      indemnifying party in writing of the commencement thereof, but the omission
      to
      notify the indemnifying party will not relieve it from any liability which
      it
      may have to any indemnified party except to any extent to which the indemnifying
      party is actually prejudiced thereby. In case such action, claim or proceeding
      is brought against any indemnified party, and it notifies the indemnifying
      party
      in writing of the commencement thereof, the indemnifying party will be entitled
      to participate in, and, to the extent that it may wish, jointly with any other
      indemnifying party, similarly notified, to assume the defense thereof, with
      counsel reasonably satisfactory to such indemnified party; provided, however,
      that an indemnified party shall have the right to retain its own counsel with
      the fees and expenses of such counsel for such indemnified party to be paid
      by
      the indemnifying party, if (i) the employment thereof has been specifically
      authorized by the indemnifying party in writing, (ii) the indemnifying party
      has
      failed after a reasonable period of time to assume such defense and to employ
      counsel reasonably satisfactory to such indemnified party or (iii) in the
      reasonable opinion of the indemnified party the representation by counsel of
      the
      indemnified party and the indemnifying party would be inappropriate due to
      actual or potential differing interests between such indemnified party and
      any
      other party represented by such counsel in such proceeding. The indemnified
      party shall cooperate fully with the indemnifying party in connection with
      any
      negotiation or defense of any such action, claim or proceeding by the
      indemnifying party and shall furnish to the indemnifying party all information
      reasonably available to the indemnified party which relates to such action,
      claim or proceeding. The indemnifying party shall keep the indemnified party
      fully apprised at all times as to the status of the defense or any settlement
      negotiations with respect thereto. No indemnifying party shall be liable for
      any
      settlement of any action, claim or proceeding effected without its prior written
      consent, provided, however, that the indemnifying party shall not unreasonably
      withhold, delay or condition its consent. No indemnifying party shall, without
      the prior written consent of the indemnified party, consent to entry of any
      judgment or enter into any settlement or other compromise which does not include
      as an unconditional term thereof the giving by the claimant or plaintiff to
      such
      indemnified party of a release from all liability in respect to such action,
      claim or proceeding.

     

    11.  Contribution.
      If the
      indemnification provided for in Section 8 or Section 9 is unavailable to an
      indemnified party thereunder in respect to any losses, claims, damages,
      liabilities or expenses referred to therein, then an indemnifying party, in
      lieu
      of indemnifying such indemnified party, shall contribute to the amount paid
      or
      payable by such indemnified party as a result of such losses, claims, damages,
      liabilities or expenses in such proportion as is appropriate to reflect the
      relative fault of the Company, on the one hand, and the Investor(s), on the
      other hand, in connection with the statements or omissions that resulted in
      such
      losses, claims, damages, liabilities or expenses. The relative fault of the
      Company and the Investor(s) in connection with the statements that resulted
      in
      such losses, claims, damages, liabilities or expenses shall be determined by
      reference to, among other things, whether the untrue or alleged untrue statement
      of material facts or the omission or alleged omission to state a material fact
      relates to information supplied by the Company or the Investor(s) and the
      parties’ relative intent, knowledge, access to information and opportunity to
      correct such statement or omission; provided, however, that no Person involved
      in the sale of Registrable Securities who is guilty of fraudulent
      misrepresentation (within the meaning of Section 11(f) of the 1933 Act) in
      connection with such sale shall be entitled to contribution from any Person
      involved in such sale of Registrable Securities who was not guilty of fraudulent
      misrepresentation.

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

       

    

    12.  Indemnification
      Limitation and Continuation.
      Notwithstanding any other provision of this Agreement, the liability of any
      Investor for indemnification or contribution under this Agreement shall not
      exceed an amount equal to the number of shares of Registrable Securities sold
      by
      such Investor under the Registration Statement multiplied by the net amount
      per
      share received in such sale(s). The indemnification and contribution provided
      for under this Agreement shall remain in full force and effect regardless of
      any
      investigation made by or on behalf of the indemnified party or any officer,
      director or controlling person of such indemnified party and shall survive
      the
      transfer of securities.

     

    13.  Notices.
      All
      notices required or permitted to be given pursuant to this Agreement shall
      be in
      writing and shall be deemed given when received when delivered personally or,
      by
      facsimile, by overnight courier or by first class mail, postage prepaid,
      registered or certified with return receipt request, at the addresses set forth
      on the signature page or at such other address as any party shall designate
      in
      writing to the other.

     

    14.  Governing
      Law; Counterparts.
      This
      Agreement shall in all respects be governed by and construed and enforced in
      accordance with the laws of the State of Colorado, and shall be binding upon
      and
      inure to the benefit of the parties hereto and their respective heirs, personal
      representatives, successors or assigns, provided that the terms and conditions
      of Section 16 hereof are satisfied. Notwithstanding anything in this
      Agreement to the contrary, if at any time any Investor shall cease to own any
      Shares, Warrants or Registrable Shares, all of such Investor’s rights under this
      Agreement shall immediately terminate. EACH
      PARTY HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE, AND AGREES NOT TO
      REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN
      CONNECTION HEREWITH OR ARISING OUT OF THIS AGREEMENT OR ANY TRANSACTION
      CONTEMPLATED HEREBY. Each
      of
      the parties hereto irrevocably submits to the exclusive jurisdiction of the
      courts of the State of Colorado, County of Denver, and the United States
      District Court for the District of Colorado for the purpose of any suit, action,
      proceeding or judgment relating or arising out of this Agreement and the
      transactions contemplated hereby. Service of process in connection with any
      such
      suit, action or proceeding may be served on each party hereto by the same
      methods as are specified for the giving of notices under this Agreement. Each
      of
      the parties hereto irrevocably consents to the jurisdiction of any such court
      in
      any such suit, action or proceeding and the laying of venue in such court.
      Each
      party hereto irrevocably waives any objection to the laying of venue of any
      such
      suit, action or proceeding brought in such courts and irrevocably waives any
      claim that any such suit, action or proceeding brought in any such court has
      been brought in an inconvenient forum.

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

       

    

    15.  Assignment.
      At any
      time the Registration Statement is not available and with the consent of the
      Company, the rights under this Agreement shall be automatically assignable
      by
      each Investor to any transferee of all or any portion of such Investor’s
      Registrable Securities if such Investor’s rights in the Registrable Securities
      can otherwise be transferred in accordance with all applicable securities laws,
      and if: (i) such Investor agrees in writing with the transferee or assignee
      to
      assign such rights, and the transferee or assignee agrees to be bound by all
      provisions of this Agreement, and a copy of such agreement is furnished to
      the
      Company within a reasonable time after such assignment; (ii) the Company is,
      within five business days after such transfer or assignment, furnished with
      written notice of (a) the name and address of such transferee or assignee,
      and
      (b) the securities with respect to which such registration rights are being
      transferred or assigned; and (iii) as a part of such transfer or assignment
      the
      further disposition of such securities by the transferee or assignee is
      restricted under the Act and applicable state securities laws.

     

    16.  Amendments;
      Waivers.
      No
      provision of this Agreement may be waived or amended except in a written
      instrument signed, in the case of an amendment, by the Company and each Investor
      or, in the case of a waiver, by the party against whom enforcement of any such
      waiver is sought. No waiver of any default with respect to any provision,
      condition or requirement of this Agreement shall be deemed to be a continuing
      waiver in the future or a waiver of any subsequent default or a waiver of any
      other provision, condition or requirement hereof, nor shall any delay or
      omission of either party to exercise any right hereunder in any manner impair
      the exercise of any such right.

     

    17.  Entire
      Agreement.
      This
      Agreement supersedes all other prior oral or written agreements between the
      Investor and the Company with respect to the matters discussed herein, and
      this
      Agreement contains the entire understanding of parties with respect to the
      matters covered herein and, except as specifically set forth herein, neither
      the
      Company nor the Investor makes any representation, warranty, covenant or
      undertaking with respect to such matter.

     

    18.  Counterparts.
      This
      Agreement may be executed in a number of counterparts, all of which together
      shall for all purposes constitute one Agreement, binding on all the parties
      hereto notwithstanding that all such parties have not signed the same
      counterpart.

     

    [Signature
      Pages Follow]

     

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

    Company
      Signature Page to

    Zulu
      Energy Corp.

    Registration
      Rights Agreement

    Dated
      April __, 2008

    

    

    IN
      WITNESS WHEREOF, the parties hereto have executed this Agreement as of the
      date
      above set forth.

     

    
      	 	“COMPANY”
	 	 	 	 
	 	ZULU ENERGY CORP.
	 	 	 	 
	 	By:	 
	 	 	Name:	 
	 	 	Title:	 

    

     

    

    Address
      for Notice:

    

    Zulu
      Energy Corp.

    122
      N.
      Main Street, 

    Sheridan,
      Wyoming 82801

    Attention:
      Paul Stroud

    President

    Fax:
      (___) ___-_____

    

    

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

    

    Patton
      Boggs LLP

    1801
      California Street

    Suite
      4900

    Denver,
      CO 80202

    Attention:
      Mr. Robert M. Bearman, Esq.

    Fax:
      (303) 894-6169

    

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

     

    Investor
      Counterpart Signature Page to

    ZULU
      ENERGY CORP.

    Registration
      Rights Agreement

    Dated
      ____ __, 2008

    

    

     

    

    
      	 	“INVESTOR”
	 	 	 	 
	 	 	 	 
	Date of Registration Rights
              Agreement,	 	 	 
	______
              __, 2008	 	By:	 
	 	 	Name:	 
	 	 	Title:	 
	 	 	 	 
	Number of Shares: 
              _______________	Address:
	 	 	 	 
	 	 	 	 

    

    

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

    ZULU
      ENERGY CORP.

    

    Selling
      Securityholder Notice and Questionnaire

    

    

    The
      undersigned beneficial owner of common stock, par value $0.001 per share (the
      “Common Stock”), of Zulu Energy Corp., a Colorado corporation (the “Company”)
      (the “Registrable Securities”) understands that the Company has filed or intends
      to file with the Securities and Exchange Commission (the “Commission”) a
      registration statement (the “Registration Statement”) under the Securities Act
      of 1933, as amended (the “Securities Act”), for the Registrable Securities, in
      accordance with the terms of the Registration Rights Agreement, dated as of
      ____________, 2008 (the “Registration Rights Agreement”), among the Company and
      the Purchasers named therein. A copy of the Registration Rights Agreement is
      available from the Company upon request at the address set forth below. All
      capitalized terms not otherwise defined herein shall have the meanings ascribed
      thereto in the Registration Rights Agreement.

     

    Certain
      legal consequences arise from being named as a selling securityholder in the
      Registration Statement and the related prospectus. Accordingly, holders and
      beneficial owners of Registrable Securities are advised to consult their own
      securities law counsel regarding the consequences of being named or not being
      named as a selling securityholder in the Registration Statement and the related
      prospectus.

     

    NOTICE

     

    The
      undersigned beneficial owner (the “Selling Securityholder”) of Registrable
      Securities hereby elects to include the Registrable Securities owned by it
      and
      listed below in Item 3 (unless otherwise specified under such Item 3) in the
      Registration Statement.

     

    The
      undersigned hereby provides the following information to the Company and
      represents and warrants that such information is accurate:

     

    QUESTIONNAIRE

     

    1.    Name.

     

    
      	 	
              (a)

            	
              Full
                Legal Name of Selling
                Securityholder

            

    

     

    
      	 	
               

            	
              _______________________________

            

    

     

     

    
      	 	
              (b)

            	
              Full
                Legal Name of Registered Holder (if not the same as (a) above) through
                which Registrable Securities Listed in Item 3 below are
                held:

            

    

     

    
      	
            	
               

            	
              _______________________________

            

    

     

    
      	 	
              (c)

            	
              Full
                Legal Name of Natural Control Person (which means a natural person
                who
                directly you indirectly alone or with others has power to vote or
                dispose
                of the securities covered by the
                questionnaire):

            

    

     

    
      	
            	
               

            	
              _______________________________

            

    

     

    
      
        
        

      

      
        11

        
          

        

      

      
        
        

      

    

     

     

     

    2.    Address
      for Notices to Selling Securityholder:

     

    
      	 
	 
	 
	Telephone:	 
	Fax:	 

    

    
      	Contact
              Person:	 

    

     

    3.    Beneficial
      Ownership of Registrable Securities:

     

    
      
        	 	
                (a)

              	
                Type
                  and Number of Registrable Securities beneficially
                  owned:

              

      

       

    

    
      	 	 	___________________________________

      	 	 	___________________________________ 

      	 	 	___________________________________

    

     

    4.    Broker-Dealer
      Status:

    

    
      	 	
              (a)

            	
              Are
                you a broker-dealer?

            

    

     

    ________
      Yes  __________
      No

     

    Note:
      If
      yes, the Commission’s staff has indicated that you should be identified as an
      underwriter in the Registration Statement.

     

    
      	 	
              (b)

            	
              Are
                you an affiliate of a
                broker-dealer?

            

    

     

    ________
      Yes  __________
      No

     

    
      	 	
              (c)

            	
              If
                you are an affiliate of a broker-dealer, do you certify that you
                bought
                the Registrable Securities in the ordinary course of business, and
                at the
                time of the purchase of the Registrable Securities to be resold,
                you had
                no agreements or understandings, directly or indirectly, with any
                person
                to distribute the Registrable
                Securities?

            

    

     

    ________
      Yes  __________
      No

     

    Note:
      If
      no, the Commission’s staff has indicated that you should be identified as an
      underwriter in the Registration Statement.

     

    
      
        
        

      

      
        12

        
          

        

      

      
        
        

      

       

    

    5.    Beneficial
      Ownership of Other Securities of the Company Owned by the Selling
      Securityholder.

     

    Except
      as set forth below in this Item 5, the undersigned is not the beneficial or
      registered owner of any securities of the Company other than the Registrable
      Securities listed above in Item 3.

     

    
      	 	
              (a)

            	
              Type
                and Amount of Other Securities beneficially owned by the Selling
                Securityholder:

            

    

     

    
      	
            	 	______________________________________________________

    

    
      	
            	 	______________________________________________________

    

     

     

    6.    Relationships
      with the Company:

     

    Except
      as set forth below, neither the undersigned nor any of its affiliates, officers,
      directors or principal equity holders (owners of 5% of more of the equity
      securities of the undersigned) has held any position or office or has had any
      other material relationship with the Company (or its predecessors or affiliates)
      during the past three years.

     

    State
      any
      exceptions here:

     

    
      	
            	 	________________________________________________________________________________

    

    
      	
            	 	________________________________________________________________________________

    

     

    The
      undersigned agrees to promptly notify the Company of any inaccuracies or changes
      in the information provided herein that may occur subsequent to the date hereof
      at any time while the Registration Statement remains effective.

     

    By
      signing below, the undersigned consents to the disclosure of the information
      contained herein in its answers to Items 1 through 6 and the inclusion of such
      information in the Registration Statement and the related prospectus. The
      undersigned understands that such information will be relied upon by the Company
      in connection with the preparation or amendment of the Registration Statement
      and the related prospectus.

     

    IN
      WITNESS WHEREOF the undersigned, by authority duly given, has caused this Notice
      and Questionnaire to be executed and delivered either in person or by its duly
      authorized agent.

     

     

    
      	Dated:______________________	Beneficial
              Owner:_______________________________________
	 	 
	 	 
	 	By:__________________________________________________
	 	
              Name:___________________________________________

            
	 	
              Title:_____________________________________

            
	 	 

    

     

    
      
        
        

      

      
        13

        
          

        

      

      
        
        

      

    

     

    PLEASE
      FAX A COPY OF THE COMPLETED AND EXECUTED NOTICE AND QUESTIONNAIRE, AND RETURN
      THE ORIGINAL BY OVERNIGHT MAIL, TO:

     

    Robert
      M.
      Bearman, Esq.

    Patton
      Boggs LLP

    1801
      California Street

    Denver,
      Colorado 80202

    Fax:
      (303) 894-9239

     

    
      
        
        

      

      
        14AMENDED
      AND RESTATED ENTRUSTED MANAGEMENT AGREEMENT

    

    AMONG

    

    THE
      FOURTEEN PERSONS INCLUDING WANG RONGHUA

     

    

    SHAANXI
      AOXING PHARMACEUTICAL CO., LTD

    

    AND

    

    SHAANXI
      BIOSTAR BIOTECH LTD

     

    

    May
      6, 2008

    

    XIANYANG,
      CHINA

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    Entrusted
      Management Agreement

    

    This
      Amended
      and Restated Entrusted Management Agreement (the “Agreement”) is entered into on
      May 6, 2008 in
      Xianyang, China by: 

    

    Party
      A:  

     

    1. Wang
      Ronghua, a citizen of PRC with ID Card number【61040219550901129x】,
      owns
      45.13% shares of Shaanxi Aoxing Pharmaceutical Co., Ltd.,

    

    2.
       Wang
      Yan,
      a citizen of PRC with ID Card number 【610402198705207517】,
      owns
      5.83% shares of Shaanxi Aoxing Pharmaceutical Co., Ltd.,

    

    3.
       Wang
      Rongfa, a citizen of PRC with ID Card number 【610125196107262216】,
      owns
      5.83% shares of Shaanxi Aoxing Pharmaceutical Co., Ltd.,

    

    4.
       Wang
      Rangmei, a citizen of PRC with ID Card number 【610125196005042220】,
      owns
      5.83% shares of Shaanxi Aoxing Pharmaceutical Co., Ltd.,

    

    5.
       Cao
      Xuezhu, a citizen of PRC with ID Card number 【239005196007133130】,
      owns
      5.18% shares of Shaanxi Aoxing Pharmaceutical Co., Ltd.,

    

    6.
       Wang
      Yuxing, a citizen of PRC with ID Card number 【610104195707052654】,
      owns
      4.85% shares of Shaanxi Aoxing Pharmaceutical Co., Ltd.,

    

    7.
       An
      Xiaoru, a citizen of PRC with ID Card number 【220104196406234421】,
      owns
      4.85% shares of Shaanxi Aoxing Pharmaceutical Co., Ltd.,

     

    
      
        
        

      

      
        -
          1
          -

        
          

        

      

      
        
        

      

    

     

    8.
       Ao
      Quanfang, a citizen of PRC with ID Card number 【61040219570504122x】,
      owns
      4.69% shares of Shaanxi Aoxing Pharmaceutical Co., Ltd.,

    

    9.
       Tang
      Wenying, a citizen of PRC with ID Card number 【61010219431016356x】,
      owns
      3.24% shares of Shaanxi Aoxing Pharmaceutical Co., Ltd.,

    

    10.
      Qin
      Hongxia, a citizen of PRC with ID Card number 【610103196601022420】,
      owns
      3.24% shares of Shaanxi Aoxing Pharmaceutical Co., Ltd.,

    

    11.
      Wu
      Gang, a citizen of PRC with ID Card number 【610402196512265236】,
      owns
      3.07% shares of Shaanxi Aoxing Pharmaceutical Co., Ltd.,

    

    12.
      Wu
      Weiping, a citizen of PRC with ID Card number 【610403198202050067】,
      owns
      2.91% shares of Shaanxi Aoxing Pharmaceutical Co., Ltd.,

    

    13.
      Bai
      Rong, a citizen of PRC with ID Card number 【62050319790316422x】,
      owns
      2.91% shares of Shaanxi Aoxing Pharmaceutical Co., Ltd.,

    

    14.
      Wu
      Jin, a citizen of PRC with ID Card number 【610125198301140529】,
      owns
      2.27% shares of Shaanxi Aoxing Pharmaceutical Co., Ltd.,

    

    15.
      Shaanxi Aoxing Pharmaceutical Co., Ltd. is an enterprise incorporated and
      existing within the territory of China in accordance with the law of the
      People’s Republic of China, the registration number of its legal and valid
      Business License is 6104001290270
      and the
      legal registered address is Chenyangzhai, Xianyang.

    

    and

    

    Party
      B:  Shaanxi
      Biostar Biotech Ltd is a wholly-foreign owned enterprise registered in Xianyang,
      PRC, and the registration number of its legal and valid Business License is
      Qi
      Du Shaan Xian Zong Zi No. 000177.

     

    
      
        
        

      

      
        -
          2
          -

        
          

        

      

      
        
        

      

    

     

    Whereas:
      

    

    1. Party
      A
      constitutes Shaanxi Aoxing Pharmaceutical Co., Ltd. (hereinafter referred to
      as
“Shaanxi Aoxing”) and all of its shareholders holding all issued and outstanding
      shares of Shaanxi Aoxing. Under this Agreement, Shaanxi Aoxing and The Fourteen
      Persons including Wang Ronghua have acted collectively as one party to this
      Agreement;

    

    2.
       Shaanxi
      Biostar Biotech Ltd. (hereinafter referred to as “Party B”) is a wholly-foreign
      owned enterprise incorporated and existing within the territory of China in
      accordance with the law of the People’s Republic of China, the registration
      number of its legal and valid Business License is Qi
      Du
      Shaan Xian Zong Zi No. 000177,
      and the
      legal registered address is 3rd floor, backyard of Industrial and Business
      Bureau, Shiji Avenue, Xianyang.

    

    3.
       Party
      A
      desires to entrust Party B to manage and operate Shaanxi Aoxing; 

    

    4.
       Party
      B
      agrees to accept such entrustment and to manage Shaanxi Aoxing on behalf of
      Party A. 

    

    Therefore,
      in accordance with laws and regulations of the People’s Republic of China, the
      Parties agree as follows after friendly consultation based on the principle
      of
      equality and mutual benefit. 

    

    Article
      1 
      Entrusted Management 

    

    1.1
       Party
      A
      agrees to entrust the management of Shaanxi Aoxing to Party B pursuant to the
      terms and conditions of this Agreement. Party B agrees to manage Shaanxi Aoxing
      in accordance with the terms and conditions of this Agreement. 

    

    1.2
       The
      term
      of this Entrusted Management Agreement shall be from the effective date of
      this
      Agreement to the earlier of the following:

      (1)
      the
      termination of business operations of Shaanxi Aoxing or any successor company
      thereto thereto (the “Entrusted Period”), or 

    (2)
      

      (3)
      the
      date on which Party B completes the acquisition of Shaanxi Aoxing. 

    

    1.3
       During
      the Entrusted Period, Party B shall be fully responsible for the management
      of
      Shaanxi Aoxing. The management service includes without limitation the
      following:

     

    
      
        
        

      

      
        -
          3
          -

        
          

        

      

      
        
        

      

    

     

    
      	
            	(1)	
              Party
                B shall be fully responsible for the operation of Shaanxi Aoxing,
                which
                includes the right to appoint and terminate members of Board of Directors
                and the right to hire managerial and administrative personnel etc.
                Party A
                or its voting proxy shall make a shareholder’s resolution and a Board of
                Directors’ resolution based on the decision of Party B’s Board of
                Directors. 

            

    

    

    
      	
            	(2)	
              Party
                B has the right to manage and control all assets of Party A. Shaanxi
                Aoxing shall open an entrusted account or designate an existing account
                as
                an entrusted account. Party B has the full right to decide the use
                of the
                funds in the entrusted account. The signer of the account shall be
                appointed or confirmed by Party B. All of the funds of Shaanxi Aoxing
                y
                shall be kept in this account, including but not limited to its existing
                working capital and purchase price received from selling its production
                equipment, inventory, raw materials and accounts receivable to Party
                B,
                all payments of funds shall be disbursed through this entrusted account,
                including but not limited to the payment of all existing accounts
                payable
                and operating expenses, payment of employees salaries and purchase
                of
                assets, and all revenues from its operation shall be kept in this
                account.

            

    

    

    
      	
            	(3)	
              Party
                B shall have the full right to control and administrate the financial
                affairs and daily operation of Shaanxi Aoxing, such as entering into
                and
                performance of contracts, and payment of taxes
                etc.

            

    

    

    
      	
            	(4)	
              If
                Shaanxi Aoxing requires additional funds to maintain its operations,
                Party
                B shall provide such additional funds through a bank loan or other
                resources and Party A shall provide necessary assistance in obtaining
                these funds. 

            

    

    

    1.4
       As
      consideration for the services provided by Party B hereunder, Party A shall
      pay
      an entrusted management fee to Party B which shall be equal to the earnings
      before tax (if any) of Shaaxi Aoxing. The entrusted management fee shall be
      as
      follows: during the term of this agreement, the entrusted management fee shall
      equal to Shaaxi Aoxing’s estimated earnings before tax, being the monthly
      revenues after deduction of operating costs, expenses and taxes other than
      income tax. If the earnings before tax is zero, Shaanxi Aoxing is not required
      to pay the entrusted management fee; if Shaanxi Aoxing sustains losses, all
      such
      losses will be carried over to next month and deducted from next month’s
      entrusted management fee. Both Parties shall calculate, and Party A shall pay,
      the monthly entrusted management fee within 20 days of the following month.
      The
      above monthly payment shall be adjusted after the end of each quarter but before
      the filing of tax return for such quarter (the “Quarterly Adjustment”), so as to
      make the after-tax profit of Shaanxi Aoxing of that quarter is zero. In
      addition, the above monthly payment shall be adjusted after the end of each
      fiscal year but before the filing for the yearly tax return (the “Annual
      Adjustment”), so as to make the after-tax profit Shaanxi Aoxing of that fiscal
      year is zero. 

     

    
      
        
        

      

      
        -
          4
          -

        
          

        

      

      
        
        

      

    

     

    1.5
       Party
      B
      shall assume all operation risks out of the entrusted management of Shaanxi
      Aoxing and bear all losses of Shaanxi Aoxing. If Shaanxi Aoxing has no
      sufficient funds to repay its debts, Party B is responsible for paying off
      these
      debts on behalf of Shaanxi Aoxing; if Shaanxi Aoxing’s net assets are lower than
      its registered capital, Party B is responsible for funding the deficit.

    

    Article
      2  Rights
      and Obligations of the Parties 

    

    2.1
       During
      the term of this Agreement, Party A’s rights and obligations include:

    

    
      	
            	(1)	
              to
                hand over Shaanxi Aoxing to Party B for entrusted management as of
                the
                effectiveness date of this Agreement and to hand over all of business
                materials together with Business License and corporate seal of Shaanxi
                Aoxing to Party B;
                

            

    

    

    
      	 	
              (2)

            	
              Party
                A has no right to make any decision regarding Shaanxi Aoxing’s operations
                without the consent of Party B;

            

    

    

    
      	 	
              (3)

            	
              to
                have the right to know the business conditions of Shaanxi Aoxing
                at any
                time and provide proposals;

            

    

    

    
      	 	
              (4)

            	
              to
                assist Party B in carrying out the entrusted management according
                to Party
                B’s requirement; 

            

    

    

    
      	 	
              (5)

            	
              to
                perform its obligations pursuant to the Shareholders’ Voting Rights Proxy
                Agreement by and between the Parties, and not to violate the said
                agreement; 

            

    

    

    
      	 	
              (6)

            	
              not
                to intervene Party B’s management over Shaanxi Aoxing in any form by
                making use of shareholder’s power; 

            

    

    

    
      	 	
              (7)

            	
              not
                to entrust or grant their shareholders’ rights in Shaanxi Aoxing to a
                third party other than Party B without Party B’s consent;
                

            

    

    

    
      	 	
              (8)

            	
              not
                to otherwise entrust other third party other than Party B to manage
                Shaanxi Aoxing in any form without Party B’s consent;
                

            

    

    

    
      	
            	(9)	
              not
                to terminate this Agreement unilaterally with any reason; or
                

            

    

    

    
      	
            	(10)	
              to
                enjoy other rights and perform other obligations under the Agreement.
                

            

    

    

    2.2
       During
      the term of this Agreement, Party B’s rights and obligations include:

    

    
      	
            	(1)	
              to
                enjoy independent and full right to manage Shaanxi Aoxing;
                

            

    

     

    
      
        
        

      

      
        -
          5
          -

        
          

        

      

      
        
        

      

    

     

    
      	
            	(2)	
              to
                enjoy the right to dispose of all assets of Shaanxi Aoxing;
                

            

    

    

    
      	 	
              (3)

            	
              to
                enjoy profits and bear losses arising from Shaanxi Aoxing’s operations
                during the period of entrusted
                management;

            

    

    

    
      	
            	(4)	
              to
                appoint all directors of Shaanxi Aoxing;

            

    

    

    
      	 	
              (5)

            	
              to
                appoint general manager, deputy general manager, financial manager
                and
                other senior managerial personnel of Shaanxi Aoxing;
                

            

    

    

    
      	 	
              (6)

            	
              to
                convene shareholders’ meetings of Shaanxi Aoxing in accordance with the
                Shareholders’ Voting Rights Proxy Agreement and sign resolutions of
                shareholders’ meetings; and 

            

    

    

    
      	
            	(7)	
              to
                enjoy other rights and perform other obligations under the Agreement.
                

            

    

    

    Article
      3  Representations
      and Warranties 

    

    The
      Parties hereto hereby make the following representations and warranties to
      each
      other as of the date of this Agreement that: 

    

    
      	
            	(1)	
              has
                the right to enter into the Agreement and the ability to perform
                the
                same;

            

    

    

    
      	
            	(2)	
              the
                execution and delivery of this Agreement by each party have been
                duly
                authorized by all necessary corporate
                action;

            

    

    

    
      	
            	(3)	
              the
                execution of this Agreement by the officer or representative of each
                party
                has been duly authorized;

            

    

    

    
      	
            	(4)	
              each
                party has no other reasons that will prevent this Agreement from
                becoming
                a binding and effective agreement between both parties after
                execution;

            

    

    

    
      	 	
              (5)

            	
              the
                execution and performance of the obligations under this Agreement
                will
                not:

            

    

    (a) violate
      any provision of the business license, articles of association or other similar
      documents of its own;

    (b) violate
      any provision of the laws and regulations of PRC or other governmental or
      regulatory authority or approval;

    (c) violate
      or result in a breach of any contract or agreement to which the party is a
      party
      or by which it is bound. 

     

    
      
        
        

      

      
        -
          6
          -

        
          

        

      

      
        
        

      

    

     

    Article
      4 Effectiveness 

    

    This
      Agreement shall take effect after it is duly executed by the authorized
      representatives of the parties hereto with seals affixed.

     

    Article
      5
      Liability for Breach of Agreement 

    

    During
      the term of this Agreement, any violation of any provisions herein by either
      party constitutes breach of contract and the breaching party shall compensate
      the non-breaching party for the loss incurred as a result of this
      breach.

    

    Article
      6 Force Majeure

    

    The
      failure of either party to perform all or part of the obligations under the
      Agreement due to force majeure shall not be deemed as breach of contract. The
      affected party shall present promptly valid evidence of such force majeure,
      and
      the failure of performance shall be settled through consultations between the
      parties hereto.

     

    Article
      7 Governing Law 

    

    The
      conclusion, validity, interpretation, and performance of this Agreement and
      the
      settlement of any disputes arising out of this Agreement shall be governed
      by
      the laws and regulations of the People’s Republic of China.

     

    Article
      8 Settlement of Dispute

    

    Any
      disputes under the Agreement shall be settled at first through friendly
      consultation between the parties hereto. In case no settlement can be reached
      through consultation, each party shall have the right to submit such disputes
      to
      China International Economic and Trade Arbitration Commission in Beijing. The
      Place of arbitration is Beijing. The arbitration award shall be final and
      binding on both parties.

     

    Article
      9 Confidentiality 

    

    9.1
       The
      parties hereto agree to cause its employees or representatives who has access
      to
      and knowledge of the terms and conditions of this Agreement to keep strict
      confidentiality and not to disclose any of these terms and conditions to any
      third party without the expressive requirements under law or request from
      judicial authorities or governmental departments or the consent of the other
      party, otherwise such party or personnel shall assume corresponding legal
      liabilities.

    

    9.2
       The
      obligations of confidentiality under Section 1 of this Article shall survive
      after the termination of this Agreement.

     

    
      
        
        

      

      
        -
          7
          -

        
          

        

      

      
        
        

      

    

     

    Article
      10 Severability

     

    10.1  Any
      provision of this Agreement that is invalid or unenforceable due to the laws
      and
      regulations shall be ineffective without affecting in any way the remaining
      provisions hereof.

    

    10.2.  In
      the
      event of the foregoing paragraph, the parties hereto shall prepare supplemental
      agreement as soon as possible to replace the invalid provision through friendly
      consultation.

     

    Article
      11 Non-waiver of Rights 

    

    11.1
       Any
      failure or delay by any party in exercising its rights under this Agreement
      shall not constitute a waiver of such right.

    

    11.2
       Any
      failure of any party to demand the other party to perform its obligations under
      this Agreement shall not be deemed as a waiver of its right to demand the other
      party to perform such obligations later.

    

    11.3
      If a
      party excuses the non-performance by other party of certain provisions under
      this Agreement, such excuse shall not be deemed to excuse any future
      non-performance by the other party of the same provision.

     

    Article
      12 Non-transferability 

    

    Unless
      otherwise specified under this Agreement, no party can assign or delegate any
      of
      the rights or obligations under this Agreement to any third party nor can it
      provide any guarantee to such third party or carry out other similar activities
      without the prior written from the other party.

     

    Article
      13 Miscellaneous 

    

    13.1
       Any
      and
      all taxes arising from execution and performance of this Agreement and during
      the course of the entrusted management and operation shall be borne by the
      Parties respectively pursuant to the provisions of laws and regulations.

    

    13.2  Any
      amendment entered into by the parties hereto after the effectiveness of this
      Agreement shall be an integral part of this Agreement and have the same legal
      effect as part of this Agreement. In case of any discrepancy between the
      amendment and this Agreement, the amendment shall prevail. In case of several
      amendments, the amendment with the latest date shall prevail.

     

    
      
        
        

      

      
        -
          8
          -

        
          

        

      

      
        
        

      

    

    
 

    13.3
       This
      Agreement is executed by Chinese and English in duplicate, and in case of any
      conflict the Chinese version shall prevail. Each of the original Chinese and
      English versions of this Agreement shall be executed in 4 copies. Each party
      shall hold two original of each version, and the rest shall be used for
      governmental registration or other necessary approval purposes.

    

    13.4
       In
      witness hereof, the Agreement is duly executed by the parties hereto on the
      date
      first written above.

    

    13.5
       This
      Agreement amends and restates the Entrusted Management Agreement between the
      parties hereto dated November 1, 2007.

     

    (REMAINDER
      OF PAGE INTENTIONALLY LEFT BLANK) 
      
        

      

    

    

    
      
        
        

      

      
        -
          9
          -

        
          

        

      

      
        
        

      

    

    

    (Page
      of
      signature only) 

    

    Party
      A: 

    

    Wang
      Ronghua(signature):

    /s/
      Ronghua Wang

    

    Wang
      Yan(signature):

    /s/
      Yan Wang

    

    Wang
      Rongfa(signature):

    /s/
      Rongfa Wang

     

    Wang
      Rangmei(signature):

    /s/
      Rangmei Wang

    

    Cao
      Xuezhu(signature):

    /s/
      X. Cao

    

    Wang
      Yuxing(signature):

    /s/
      Y. Wang

    

    An
      Xiaoru(signature):

    /s/
      An Xiaoru

    

    Ao
      Quanfang(signature):

    /s/
      Ao Quanfang

    

    Tang
      Wenying(signature):

    /s/
      Wenying Tang

    

    Qin
      Hongxia(signature):

    /s/
      Hongxia Qin

    

    Wu
      Gang(signature):

    /s/
      Gang Wu

    

    Wu
      Weiping(signature):

    /s/
      Wu Weiping

    

    Bai
      Rong(signature):

    /s/
      Bai Rong

    

    Wu
      Jin(signature):

    /s/
      Wu Jin

    

    Shaanxi
      Aoxing
      Pharmaceutical Co., Ltd 

    

    (official
      seal)

     

    
      
        
        

      

      
        -
          10
          -

        
          

        

      

      
        
        

      

    

     

    Authorized
      representative:

    (signature)

     

     

    Party
      B:

    

    Shaanxi
      Biostar Biotech Ltd

    

    (official
      seal)

    

    Authorized
      representative: 

    (signature)
      

    

    
      
        
        

      

      
        -
          11
          -

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00142-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00142-of-00352.parquet"}]]