Document:

Unassociated Document

    Exhibit 10.20

    

    

    CONSULTING
SERVICE AGREEMENT

    

    

    

    BETWEEN

    

    

    

    WUHAN
BLOWER CO., LTD.

    

    

    AND

    

    

    STANDARD
CHARTERED CORPORATE ADVISORY CO. (BEIJING), LTD.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    CONTENT

     

    
      
        
          
            
              
                
                  
                    
                      
                        
                          
                            
                              
                                
                                  
                                    
                                      
                                        	
                                                1.

                                              	
                                                SERVICE

                                              	
                                                3

                                              
	 	 	 
	
                                                2.

                                              	
                                                UNDERTAKINGS
      OF BORROWER

                                              	
                                                3

                                              
	 	 	 
	
                                                3.

                                              	
                                                ADVISORY
      FEE

                                              	
                                                4

                                              
	 	 	 
	
                                                4.

                                              	
                                                TERM
      AND TERMINATION

                                              	
                                                5

                                              
	 	 	 
	
                                                5.

                                              	
                                                CONFIDENTIALITY

                                              	
                                                5

                                              
	 	 	 
	
                                                6.

                                              	
                                                FORCE
      MAJEURE

                                              	
                                                7

                                              
	 	 	 
	
                                                7.

                                              	
                                                ENTIRE
      AGREEMENT

                                              	
                                                7

                                              
	 	 	 
	
                                                8.

                                              	
                                                AMENDMENT

                                              	
                                                7

                                              
	 	 	 
	
                                                9.

                                              	
                                                NOTICE

                                              	
                                                7

                                              
	 	 	 
	
                                                10.

                                              	
                                                ASSIGNMENT

                                              	
                                                9

                                              
	 	 	 
	
                                                11.

                                              	
                                                GOVERNING
      LAW

                                              	
                                                9

                                              
	 	 	 
	
                                                12.

                                              	
                                                DISPUTE
      RESOLUTION

                                              	
                                                9

                                              
	 	 	 
	
                                                13.

                                              	
                                                HEADINGS

                                              	
                                                9

                                              
	 	 	 
	
                                                14.

                                              	
                                                WAIVER

                                              	
                                                9

                                              
	 	 	 
	
                                                15.

                                              	
                                                SEVERABILITY

                                              	
                                                10

                                              
	 	 	 
	
                                                16.

                                              	
                                                COUNTERPARTS

                                              	
                                                10

                                              

                                      

                                    

                                  

                                

                              

                            

                          

                        

                      

                    

                  

                

              

            

          

        

      

    

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    This
Consulting Service Agreement (the “Agreement”) is entered into by and between
the following parties:

    

    
      	
              (1)  

            	
              Wuhan
      Blower Co., Ltd., a company duly incorporated under the laws of the
      People’s Republic of China with the registration address at Canglongdao
      Science Park of Wuhan East Lake Hi-Tech Development Zone, Jiangxia
      District, Wuhan, Hubei Province, People’s Republic of China (the
      “Borrower”); and

            

    

    

    
      	
              (2)  

            	
              Standard
      Chartered Corporate Advisory Co. (Beijing), Ltd., a company duly
      incorporated under the laws of People’s Republic of China with the
      registration address at Level 12 No.6, Podium Level Tower W2, The Towers,
      Oriental Plaza No.1, East Chang An Avenue, Dong Cheng District, Beijing,
      People’s Republic of China ( the
“Advisor”).

            

    

    

    Each
party is referred as a “Party” and collectively as the “Parties.”

    

    Whereas:

    

    
      	
              (1)  

            	
              An
      agreement (the “Loan Agreement”) for a loan facility of up to RMB
      303,100,000 was entered into on November 11, 2009, by and among Standard
      Chartered Bank (China) Limited, Guangzhou Branch (“Standard Chartered
      Bank”) together with other banks or financial institutions listed therein
      (collectively as the “Bank”), acting as the common lender, and Wuhan
      Blower Co., Ltd., Wuhan Generating Equipment Co., Ltd. and Wuhan Xingelin
      Machinery Equipment Manufacturing Co., Ltd. (collectively as the
      “Borrower”), in which Standard Chartered Bank served as the facility agent
      and security agent.

            

    

    

    
      	
              (2)  

            	
              The
      Borrower desires to get related advisory services regarding the financing
      arrangement as specified in the Loan
Agreement.

            

    

    

    
      	
              (3)  

            	
              The
      Advisor desires to provide such kind of service in according to the
      following terms and conditions.

            

    

    

    The
Parties agree as follows:

    

    
      	
              1.  

            	
              SERVICE

            

    

    

    
      	
              1.1  

            	
              The
      Advisor hereby agrees to provide the related business and management
      consulting service regarding the loan arrangement under the Loan
      Agreement, and any other related services which are agreed by the Parties
      in the form of written amendment from time to time (collectively as the
      “Service”).

            

    

    

    
      	
              2.  

            	
              UNDERTAKINGS
      OF BORROWER

            

    

    

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

       

    

    
      	
              2.1  

            	
              The
      Borrower hereby undertakes that it will provide the related documentations
      and other information upon the reasonable request by the Advisor and
      communicate and coordinate with the Advisor so that the Advisor can
      provide the Service.

            

    

    

    
      	
              3.  

            	
              ADVISORY
      FEE

            

    

    

    During
the Term of this Agreement, in consideration for the Service provided, the
Borrower shall pay the Advisor RMB 24,248,000, which is equivalent to 8% of the
loan amount under the Loan Agreement (the “Business Consulting Fee”). The
payment methods for the Business Consulting Fee are as follows:

    

    
      	
              3.1.1  

            	
              Pay
      the Advisor the amount equivalent to 0.5% of the amount of the loan amount
      under Loan Agreement, that being RMB 1,515,500, on the closing day under
      the Loan Agreement or the execution date of the financing document,
      whichever is earlier.

            

    

    

    
      	
              3.1.2  

            	
              Pay
      the Advisor the amount equivalent to 7.5% of the first financing drawdown
      amount, that being RMB 15,870,000, on the first drawdown date under the
      Loan Agreement.

            

    

    

    
      	
              3.1.3  

            	
              Pay
      the Advisor the amount equivalent to 7.5% of the second financing drawdown
      amount, that being RMB 6,862,500, on the second drawdown date under the
      Loan Agreement.

            

    

    

    
      	
              3.2  

            	
              Any
      advisory fee paid under Section 3.1 shall not be refunded even if this
      Agreement or the Loan Agreement is terminated
  earlier.

            

    

    

    
      	
              3.3  

            	
              The
      Borrower shall pay the Advisor annual management consulting fee (the
      “Management Consulting Fee”), from the date of the execution of the Loan
      Agreement to the scheduled maturity date of the loan under the Loan
      Agreement or 365 days after all the loan are repaid, whichever is later
      (the “Payment Term for the Management Consulting Fee”). The methods of
      calculation and payment are as
follows:

            

    

    

    
      	
              3.3.1  

            	
              Management
      Consulting Fee shall be calculated as 1% of net total sales increase in
      the corresponding year from the previous year’s sales, and 2009 shall be
      the base year to calculate the following year’s annual sales
      increase.

            

    

    

    
      	
              3.3.2  

            	
              Total
      sales shall be total revenue, which appear on the Borrower’s audited
      consolidated financial report at the end of each year during the Payment
      Term for the Management Consulting Fee, including all the revenues the
      Borrower achieved by production or service in the year before the direct
      cost and expenses are deducted.

            

    

    

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

       

    

    
      	
              3.3.3  

            	
              The
      advisory fee shall be paid within 15 business days after the issuance of
      the audited report by the Borrower for the corresponding year, together
      with the breakdown of calculation for such amount is
    provided.

            

    

    

    
      	
              3.4  

            	
              All
      the payments for the Business Consulting Fee and Management Consulting Fee
      shall be the net amount. The Borrower agrees to bear all the deduction or
      withholding expense that may be imposed by the relevant laws or
      regulations to the subject payments and shall not deduct such amount from
      the service fee to ensure that the Advisor will receive the full amount of
      payments pursuant to the Article 3.

            

    

    

    
      	
              3.5  

            	
              The
      Advisor shall provide the Borrower an invoice within 5 business days after
      the Borrower pays the relevant fees hereunder to the
    Advisor.

            

    

    

    
      	
              4.  

            	
              TERM
      AND TERMINATION

            

    

    

    
      	
              4.1  

            	
              Unless
      the Loan Agreement is terminated or this Agreement is terminated earlier
      according to this Article thereof, this Agreement shall be effective upon
      the execution and remain valid until each Party has fully performed its
      obligation hereunder.

            

    

    

    
      	
              4.2  

            	
              Notwithstanding
      Article 4.1, if the Borrower breaches any agreements under the Loan
      Agreement, the Advisor shall have the right to terminate this Agreement in
      writing immediately, and request Borrower to pay any due Business
      Consulting Fee and Management Consulting
Fee.

            

    

    

    
      	
              4.3  

            	
              The
      termination of this Agreement shall not affect the validity or
      enforceability of any right or obligation that arises from the Agreement
      before the date of such termination, including but not limited to any
      right or obligation related to the breach of the Agreement which results
      in the termination.

            

    

    

    
      	
              4.4  

            	
              In
      the event that the representative of the Advisor is hindered or prevented
      by the Borrower or any of its officer, employee or agent from assuming the
      obligation or providing the Service under this Agreement, the Advisor
      shall immediately notify the Borrower of such situation in writing. The
      Borrower shall not request the Advisor to fulfill its responsibility and
      obligation under this Agreement before the correction of such
      situation.

            

    

    

    
      	
              5.  

            	
              CONFIDENTIALITY

            

    

    

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

       

    

    
      	
              5.1  

            	
              Both
      Parties agree to keep confidential all the files, documents,
      correspondence or other kind of communication in relating to the business
      or technology (the “Confidential Information”), which were acquired or
      received during the negotiation or execution of this Agreement or for the
      purpose of performing the obligation under this Agreement, except as
      follows:

            

    

    

    
      	
              5.1.1  

            	
              Information
      in the public domain at the time of disclosure through no fault of either
      Party hereto; and

            

    

    

    
      	
              5.1.2  

            	
              Information
      in lawful possession of the Party prior to its first receipt from the
      discloser.

            

    

    

    
      	
              5.2  

            	
              Each
      party (the “Disclosing Party”) shall not disclose the Confidential
      Information except as each of the following
  condition:

            

    

    

    
      	
              5.2.1  

            	
              Required
      by the applicable law or by the order of the court of competent
      jurisdiction or the order of arbitration court, subject to the content and
      extent as required; or

            

    

    

    
      	
              5.2.2  

            	
              Required
      by the competent regulatory authority or governmental
  body.

            

    

    

    
      	
              5.3  

            	
              The
      Advisor shall ensure that the Confidential Information is kept
      confidential and the Borrower consents that the Advisor is entitled to
      disclose the Confidential Information
to:

            

    

    

    
      	
              5.3.1  

            	
              Advisor’s
      holding companies, each of its subsidiaries and each subsidiary, associate
      or representative office of each of the holding companies, and branch
      offices in any country or region (the “Permitted
  Party”);

            

    

    

    
      	
              5.3.2  

            	
              the
      professional consultants or service providers engaged by the Permitted
      Party, who owe the confidentiality obligation to the Permitted
      Party;

            

    

    

    
      	
              5.3.3  

            	
              Actual
      or potential participants or sub-participants, assignee or surrogates (or
      their agents or consultants), who are related to the rights and/or
      obligation of the Bank under any agreement between the Borrower and the
      Bank; and

            

    

     

    
      	
              5.3.4  

            	
              the
      credit rating agency, insurers and insurance brokers of the Permitted
      Party, or the other third party who, directly or indirectly, provides
      credit protection to the Permitted
Party.

            

    

    

    
      	
              5.4  

            	
              Notwithstanding
      the forgoing Article 5, both Parties are entitled to disclose the
      Confidential Information to its legal counsel, accountant or other
      professional agencies, and to their respective officer or senior
      employee.

            

    

    

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

       

    

    
      	
              5.5  

            	
              Article
      5 shall survive and remain effective after the expiration or termination
      of this Agreement.

            

    

    

    
      	
              6.  

            	
              FORCE
      MAJEURE

            

    

    

    
      	
              6.1  

            	
              Either
      Party’s (hereinafter “Affected Party”) delay or failure in performing any
      obligation under this agreement due to any Force Majeure shall not be
      deemed as breach of any article of the Agreement or to be held liable for
      any legal liability, and this Agreement shall be extended accordingly for
      the Affected Party to complete its obligation. For the purpose of this
      article, “Force Majeure” means unforeseeable and unavoidable causes beyond
      the reasonable control, including but not limited to, floods, earthquakes,
      storms, typhoons, landslides, epidemics or other natural disasters or
      tragedies, wars or war threats, terrorist attacks, civil commotion,
      invasion, riots, insurrection, any act or omission by the government of
      competent jurisdiction, any violation of the articles hereunder or default
      or insolvency by any third party, or non third party which is in the same
      group with the Affected Party, or by the employee or officers of the
      foresaid third party.

            

    

    

    
      	
              6.2  

            	
              The
      Affected Party claiming Force Majeure shall notify the other party of the
      nature, scope and possible duration of the Force Majeure event or
      circumstance, and make all necessary efforts to eliminate or reduce the
      adverse effects posed by such Force Majeure on the fulfilment of the
      obligation hereunder. Whether to extend the period of or terminate this
      Agreement shall be mutually agreed in writing by the Parties within 5
      business days after the receipt of the foregoing
  notice.

            

    

    

    
      	
              7.  

            	
              ENTIRE
      AGREEMENT

            

    

    

    
      	
              7.1  

            	
              This
      Agreement and every and each documentation referred hereto shall
      constitute the entire and all understanding and agreement between the
      Parties and supersede any other previous or existing written or
      arrangements, agreements, covenants, undertakings, declaration or
      memorandum with respect to the subject matter made by the
      Parties.

            

    

    

    
      	
              8.  

            	
              AMENDMENT

            

    

    

    
      	
              8.1  

            	
              Any
      amendment or modification to this Agreement shall be made in writing and
      be effective upon signing by each
Party.

            

    

    

    
      	
              9.  

            	
              NOTICE

            

    

    

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

       

    

    
      	
              9.1  

            	
              All
      necessary or authorization notices required by or in connection with this
      Agreement shall be prepared in writing in
  Chinese.

            

    

    

    
      	
              9.2  

            	
              All
      aforementioned notices shall be delivered to the address as specified in
      Article 9.4 hereof or mailed to the recipients as specified in Article 9.4
      hereof. Notices may be delivered by hand, mailed by certified or
      registered mail, by a recognized courier service or by
      facsimile.

            

    

    

    
      	
              9.3  

            	
              Notice
      shall be deemed as given: on the day when arrived at the recipient’s
      address if the notice is mailed by certified or registered mail or
      courier; on the date of the facsimile according the transmission success
      report if the notice is given by facsimile; if the fax is made after 5:30
      pm (local time of the recipient’s place) during normal business day or if
      on Saturday, Sunday or the public holiday (according to the jurisdiction
      of the recipient), the notice is deemed given at 9 am on the next business
      day.

            

    

    

    
      	
              9.4  

            	
              For
      the purpose of the Article 9 and subject to Article 9.5 herein, the
      address and other detail information for each Party shall be as
      follows:

            

    

    

    For
the Borrower:

    Address:
Canglongdao Science Park of Wuhan East Lake
Hi-Tech            

    Development
Zone, Wuhan, Hubei 430200, People’s Republic of China

    Tel. No.:
027-59700059

    Attention:
Mr. Xu Jie

    

    For
the Advisor:

    Address:
Level 7 No. 709, Tower C1, Oriental Plaza, No.1, East Chang An 

    Avenue,
Dong Cheng District Beijing, People’s Republic of China

    Tel. No.:
010-59133833

    Attention:
Yang Hui

    

    
      	
              9.5  

            	
              Any
      party hereto may from time to time change its address, fax number or
      recipient and notify the other Party of such
  change.

            

    

    

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

       

    

    
      	
              10.  

            	
              ASSIGNMENT

            

    

    

    Neither
of the Parties hereto shall assign nor transfer any rights or obligation under
this Agreement to any third party without prior mutual written consent of the
both Parties.

    

    
      	
              11.  

            	
              GOVERNING
      LAW

            

    

    

    
      	
              11.1  

            	
              This
      Agreement shall be governed by and interpreted in accordance with the laws
      of the People’s Republic of China.

            

    

    

    
      	
              12.  

            	
              DISPUTE
      RESOLUTION

            

    

    

    
      	
              12.1  

            	
              Any
      and all dispute arising from the interpretation or enforcement of this
      Agreement shall first be settled through friendly
    negotiation.

            

    

    

    
      	
              12.2  

            	
              Either
      party hereby irrevocably consent to submit to the jurisdiction of the
      Court where the Advisor is located any dispute arising out of or in
      connection with this Agreement which can not be solved within sixty (60)
      days commencing from the date of the negotiation. For the foresaid
      purpose, both Parties are hereby irrevocably subject to the competent
      jurisdiction of the said courts.

            

    

    

    
      	
              12.3  

            	
              The
      Borrower hereby irrevocably and unconditionally waives any immunity to
      which the Borrower or its property is entitled, regardless whether such
      immunity is any indemnification or sovereign immunity or other similar
      kind that is applicable in the People’s Republic of China or the other
      countries or regions.

            

    

    

    
      	
              13.  

            	
              HEADINGS

            

    

    

    
      	
              13.1  

            	
              The
      headings in this Agreement are for convenience only and shall not
      constitute a part of this Agreement for the purpose of understanding or
      interpretation of any articles
hereof.

            

    

    

    
      	
              14.  

            	
              WAIVER

            

    

    

    
      	
              14.1  

            	
              Except
      otherwise expressly stipulated, failure or delay by either Party to
      enforce any of the rights under this Agreement shall not be taken as or
      deemed to be a waiver of such right; no partial exercise of any right
      hereunder shall be deemed to impair further exercise of such right
      thereafter. No waiver by either Party of any default with respect to any
      article or provision of this Agreement shall be deemed to be a continuing
      waiver in the future or a waiver of any right under the above article or
      provision or any other right under this
  Agreement.

            

    

    

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

       

    

    
      	
              15.  

            	
              SEVERABILITY

            

    

    

    
      	
              15.1  

            	
              If
      any article of this Agreement, for any reason, is determined by the
      applicable law or regulations to be invalid, illegal or unenforceable in
      any respect, such article shall not affect or impair the validity,
      legitimacy and enforceability of any other article of this Agreement in
      any manner, which shall remain in full force and effect. The parties shall
      use their best efforts to substitute such article with a valid, legitimate
      and enforceable one, the intent of which shall be as close as to the
      original article.

            

    

    

    
      	
              16.  

            	
              COUNTERPARTS

            

    

    

    
      	
              16.1  

            	
              This
      Agreement is executed in duplicate originals in Chinese, each held by both
      parties.

            

    

     

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

       

    

    IN WITNESS WHEREOF, the Parties hereto
have caused their duly authorized representatives to execute this Agreement as
of the day and year undersigned.

    

    Wuhan
Blower Co., Ltd.      (Corporate
Chop)

    Authorized
Representative Signature: /s/ Xu
Jie                
                                                                        

    Name: Mr.
Xu Jie

    Date of
Signature: November 11, 2009

    

    Standard
Chartered Corporate Advisory Co. (Beijing),
Ltd.    (Corporate Chop)

    Authorized
Representative Signature: /s/ Sun
Yonghong

    Name:
Sun Yonghong

    Date of
Signature: November 11, 2009

    

    
      
        
        

      

      
        11February
1, 2010

      

      Mr.
Jianhua Wu

      China
Wind Systems, Inc.

      No. 9
Yanyu Middle Road

      Qianzhou
Village, Huishan District, Wuxi City

      Jiangsu
Province, People’s Republic of China

      

      Dear Mr.
Wu,

       

      Thank you
for the opportunity to be of service to you.  This letter and the
accompanying attachments outline the terms of our engagement by China Wind
Systems, Inc. (the “Company”), as we understand them.  The term of the
employment hereunder shall commence on February 1, 2010. Please indicate your
agreement by signing in the space provided at the end of this letter and
returning the original to us.

      

      SCOPE
OF ENGAGEMENT

      

      We are
being engaged to:

       

      
        
        

      

      
        	
                 
      

              	
                ·

              	
                Provide
      outsourced/financial reporting/controller services for the Company and its
      wholly-owned subsidiaries, Wuxi Huayang Dyeing Machinery Co., Ltd. and
      Wuxi Huayang Electrical Equipment Co.,
Ltd.

              

      

      
        	
                 
      

              	
                ·

              	
                Assist
      the Company and its management in dealing with auditing process and with
      the auditing firm including visiting the Company’s location during the
      audit process and helping the Company prepare and finalize the audit in a
      timely and efficient manner.

              

      

      
        	
                 
      

              	
                ·

              	
                Assemble
      your annual and quarterly financial statements, which include a balance
      sheet, statement of operations, statement of stockholders’ equity, and a
      statement of cash flows and footnotes for specific periods in order to
      conform to generally accepting accounting principles accepting in the
      United States of America.   Additional, we will assist
      management in the preparation of financial statements and work papers
      related to annual financial audits and quarterly SEC
      filings.  SEC filings shall include quarterly 10-Q reports,
      financial portions of 10-K report and, management’s discussion and
      analysis.

              

      

      
        	
                 
      

              	
                ·

              	
                Assist
      management in any communications with the United States Securities and
      Exchange Commission.

              

      

      

      1643
Royal Grove Way, Weston, FL 33327 * Phone: (800) 867-0078 * Fax (954)
337-2204

      
        
           

        

        
          
          

          
            

          

        

        
           

        

      

      

      Page
2

      
        	
                 
      

              	
                ·

              	
                Summarize
      such adjusting entries as management deems necessary to reflect
      non-monetary transactions (e.g., depreciation, capitalization of costs,
      loan amortization, intercompany transactions,
  etc.).

              

      

      

      Additionally,
we will provide the following services:

      

      
        	
                 
      

              	
                ·

              	
                Assist
      you in communications with the Company’s Board of Directors including set
      up of board meetings, participation at board meetings, and any other board
      issues

              

      

      
        	
                 
      

              	
                ·

              	
                Assist
      the Company in any due diligence requirements from any potential funding
      source including preparation of budgets, projections, and financial
      analysis.

              

      

      
        	
                 
      

              	
                ·

              	
                We
      will continually train Company staff and will provide greater oversight
      and we will advice management about all financial issues related to being
      a public entity.

              

      

      
        	
                 
      

              	
                ·

              	
                We
      will assist the Company in preparing other public filings required by the
      Company including 8-K filings and registration statements on Form
      S-1.

              

      

      

      We do not
undertake to, and will not, provide any opinion or form of assurance on the
financial statements we assemble in connection with these services and,
accordingly, we do not undertake to make inquiries or perform other procedures
to verify, corroborate, or review information supplied by you.  Our
engagement to assemble financial statements cannot be relied upon to disclose
errors, irregularities, or illegal acts, including fraud or defalcation that may
exist.

      

      In
performing the services contemplated by this agreement, we will provide the
services of Adam Wasserman, who will serve as vice president of financial
reporting.   We understand that this position is not the position
of an executive officer of the Company and that Mr. Wasserman will not have any
authority to bind the Company.

      

      FINANCIAL
TERMS

      

      Our fees
for the above services will be billed monthly and will consist of annual cash
compensation of $42,000 plus 8,000 common shares per annum (2,000 common shares
per quarter payable on March 31, 2010, June 30, 2010, September 2010 and
December 31, 2010).   Unforeseen complexities in the data or
applicable regulations could result in a fee adjustment, but we will discuss any
changes with you in advance.  Invoices will be sent monthly and are
payable upon presentation.  Lack of payment may result in our
termination of services until your account is fully paid. Out of pocket fees
will be reimbursed separately and will consist of travel expenses.

      

      The above
fee will commence on February 1, 2010. The Company shall pay cash portion of the
monthly fee at the beginning of each month.

      

      Our
Standard Engagement Terms are attached and incorporated herein by
reference.  Please review these terms carefully.

      
        
           

        

        
          
          

          
            

          

        

        
           

        

      

       

      Page
3

      

      We
appreciate your trust and confidence in our professional services.  If
we can answer any questions regarding this engagement or our fees, or explain
any of our other services, please do not hesitate to contact us. If the
foregoing is consistent with your intentions and understanding, please sign this
letter in the space provided and return it to us.

      
        
          
            
              	 
      	
                      Regards,

                    
	 
      	
                      
                        

                      

                    
	 
      	
                      Adam
      Wasserman

                    
	 
      	
                      Chief
      Executive Officer

                    

            

          

        

      

      

      I
understand and agree with the provisions outlined above.

      

      
        
          
            
              	
                      /s/
      Jianhua Wu

                    	 	 
      
	 
      	 	
                      2/1/10

                    
	
                      Signature

                    	 	
                      Date

                    

            

          

        

      

      

      
        
          	
                  Print Name:

                	
                  Jianhua
Wu

                

        

      

      
        
           

        

        
          
          

          
            

          

        

        
           

        

      

      STANDARD
ENGAGEMENT TERMS

      

      The
following terms govern the engagement between the addressee of the accompanying
engagement letter (You) and CFO Oncall Asia, Inc. (CFO).

      

      CONFIDENTIALITY

      CFO
treats all Client relationships as confidential and will not disclose your
financial or tax information to anyone outside of CFO without your written
permission except as required by law or regulation.  Your permission
may be granted by identifying the parties (e.g. financial advisor, attorney,
banker, etc.) to whom disclosure is permitted below, or by other written
correspondence. CFO further agrees to bind its employees and subcontractors to
the terms and conditions of this Agreement.

      

      
        
          

        

      CLIENT
PROVIDED INFORMATION

      You
represent that all information provided to CFO is accurate and complete to the
best of your knowledge.  Further, if these services involve tax return
preparation, you represent that unless CFO is otherwise advised in writing or
acts as your business manager, you possess the required supporting documentation
for such tax deductions as travel, entertainment, business gifts, charitable
contributions, automobile usage, etc.  CFO is not responsible for any
additional tax, penalties or interest that might result from the lack of
documentation for such deductions upon audit.

      

      PROFESSIONAL
JUDGMENT

      CFO will
use its professional judgment in applying tax, accounting, or other rules
applicable to this engagement.  Wherever there are conflicting,
reasonable interpretations of the rules, we will advise you of the possible
positions you might take and follow the position you request as long as it is
consistent with applicable professional, statutory or regulatory standards.
Should the positions taken result in additional taxes, penalties, fines,
interest or any other damages, we assume no responsibility for such
costs.

      

      CHANGES
OR MODIFICATIONS IN SCOPE OF ENGAGEMENT

      Should
the scope of the engagement change, CFO will prepare a Change Order letter
outlining the necessary changes and the modification of fees.  CFO
will not proceed with the modified scope without your prior
approval.  Fee increases resulting from Change Orders will be billed
immediately and are due upon receipt.

      

      TERMINATION
OF ENGAGEMENT

      Unless
otherwise stated in the accompanying engagement letter, this engagement may be
terminated upon thirty (30) days written notice by either party; provided,
however, that these Standard Engagement Terms shall survive the termination of
this engagement.

      

      WORKPAPER
OWNERSHIP

      All
documents and work papers, including, but not limited to, data in electronic
form, which emanate from the services performed by CFO remain the sole property
of CFO.  CFO retains its work papers at its discretion and does not
retain superseded materials.

      

      ORIGINAL
CLIENT RECORDS

      Unless
otherwise noted in the accompanying engagement letter, you are responsible to
retain original documents as may be necessary to justify reported revenues,
expenses, etc.  CFO may choose to retain selected copies of documents
in its work papers.

      

      LIMITATIONS
ON SCOPE OF ENGAGEMENT AND VERIFICATION OF INFORMATION

      Unless
otherwise stated in the accompanying engagement letter, CFO will not audit or
otherwise verify the information provided by you or third parties. This
engagement cannot be relied upon to disclose errors and irregularities,
including fraud or misappropriation of assets that may
exist.  However, CFO will inform you of irregularities that come to
its attention, unless they are inconsequential.

      

      INDEMNIFICATION
FOR MANAGEMENT MISREPRESENTATION

      If we incur legal fees as a result of
our reliance on any false representation by you, you agree to reimburse us for
all of our legal fees and related costs of defense.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00171-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00171-of-00352.parquet"}]]