Document:

Exhibit
10.2

    

    WARRANT
EXCHANGE AGREEMENT

    

    THIS
WARRANT EXCHANGE AGREEMENT, dated as of December 13, 2010 (this “Agreement”) is
entered into by and among Wuhan General Group (China), Inc., a Nevada
corporation (the “Company”) and the
undersigned holders of the Company’s Series A Warrants and/or Series B Warrants
(collectively, the “Holders”).

    

    WITNESSETH

    

    WHEREAS,
the Company currently has Series A and B warrants outstanding (the “Warrants”)
representing the right to purchase an aggregate of 9,993,977 shares of the
Company’s common stock, $0.0001 par value per share (the “Warrant
Stock”);

    

    WHEREAS,
the Company has offered to exchange all or part of each Holder’s Warrant for the
issuance by the Company of 0.5 shares of the Company’s common stock, $0.0001 par
value per share (the “Common Stock”), per
share of Warrant Stock underlying the Warrant;

    

    WHEREAS,
the Transaction (as defined below) shall be made pursuant to an exemption under
the Securities Act of 1933, as amended (the “Securities Act”);
and

    

    WHEREAS,
the parties desire to enter into the Transaction upon the terms and conditions
herein.

    

    NOW,
THEREFORE, in consideration of the mutual covenants contained in this Agreement
and for other good and valuable consideration, the receipt and adequacy of which
are hereby acknowledged, intending to be legally bound hereby, the parties
hereto agree as follows:

    

    1.           Each
Holder agrees to transfer the number of shares of Warrant Stock underlying its
Series A Warrant and/or the number of shares of Warrant Stock underlying its
Series B Warrant indicated on such Holder’s signature page hereto (the “Elected Warrant
Stock”) for the issuance by the Company of 0.5 shares of the Company’s
Common Stock per share of Elected Warrant Stock (the “Transaction”).  Each
Holder shall relinquish such Holder’s right, title and interest in the Elected
Warrant Stock to the Company.

    

    2.           In
connection with the Transaction, (i) each Holder that also holds the Company’s
Series A Convertible Preferred Stock, $0.0001 par value per share, has signed
and delivered the Waiver, of even date herewith (the “Waiver”), of the
Lock-Up Agreement, dated February 7, 2007, between the Company and Fame Good
International Limited (“Fame Good”) and (ii)
certain of the Holders have signed and delivered the Stockholders Agreement, of
even date herewith, with the Company, Fame Good and Xu Jie (the “Stockholders
Agreement”).

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    3.           Each
Holder hereby represents and warrants that:

    

    a.           it
acknowledges and agrees to the terms and conditions of the Transaction as
provided for herein;

    

    b.           it
is duly incorporated or organized, validly existing and in good standing under
the laws of the jurisdiction of its incorporation or organization;

    

    c.           it
has the requisite power and authority to enter into and perform this Agreement
and, if applicable, the Stockholders Agreement and the Waiver, and to consummate
the transactions contemplated hereby and thereby. The execution, delivery and
performance of this Agreement and, if applicable, the Stockholders Agreement and
the Waiver, by such Holder and the consummation by it of the transactions
contemplated hereby and thereby have been duly authorized by all necessary
corporate or partnership action, and no further consent or authorization of such
Holder or its Board of Directors, stockholders, or partners, as the case may be,
is required. Each of this Agreement and, if applicable, the Stockholders
Agreement and the Waiver, has been duly authorized, executed and delivered by
such Holder and constitutes, or shall constitute when executed and delivered, a
valid and binding obligation of the Holder enforceable against the Holder in
accordance with the terms thereof;

    

    d.           the
execution, delivery and performance of this Agreement and, if applicable, the
Stockholders Agreement and the Waiver, and the consummation by such Holder of
the transactions contemplated hereby and thereby or relating hereto do not and
will not (i) result in a violation of such Holder’s charter documents or bylaws
or other organizational documents or (ii) conflict with, or constitute a default
(or an event which with notice or lapse of time or both would become a default)
under, or give to others any rights of termination, amendment, acceleration or
cancellation of any agreement, indenture or instrument or obligation to which
such Holder is a party or by which its properties or assets are bound, or result
in a violation of any law, rule, or regulation, or any order, judgment or decree
of any court or governmental agency applicable to such Holder or its properties
(except for such conflicts, defaults and violations as would not, individually
or in the aggregate, have a material adverse effect on such Holder). Such Holder
is not required to obtain any consent, authorization or order of, or make any
filing or registration with, any court or governmental agency in order for it to
execute, deliver or perform any of its obligations under this Agreement or, if
applicable, the Stockholders Agreement and the Waiver;

    

    e.           it
is acquiring the Common Stock solely for its own account for the purpose of
investment and not with a view to or for sale in connection with distribution.
Each Holder does not have a present intention to sell the Common Stock, nor a
present arrangement (whether or not legally binding) or intention to effect any
distribution of the Common Stock to or through any person or entity; provided, however, that by
making the representations herein and subject to Section 3(g) below, such Holder
does not agree to hold the Common Stock for any minimum or other specific term
and reserves the right to dispose of the Common Stock at any time in accordance
with Federal and state securities laws applicable to such disposition. Each
Holder acknowledges that it is able to bear the financial risks associated with
an investment in the Common Stock and has sufficient knowledge and experience in
investing in companies similar to the Company in terms of the Company’s stage of
development so as to be able to evaluate the risks and merits of its investment
in the Company;

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

     

    f.           it
is an “accredited investor” as defined in Regulation D promulgated under the
Securities Act.  Such Holder is not required to be registered as a
broker-dealer under Section 15 of the Securities Exchange Act of 1934, as
amended (the “Exchange
Act”), and such Holder is not a broker-dealer;

    

    g.           it
understands that the Common Stock must be held indefinitely unless such Common
Stock is registered under the Securities Act or an exemption from registration
is available. Such Holder acknowledges that such Holder is familiar with Rule
144, promulgated pursuant to the Securities Act (“Rule 144”), and that
such person has been advised that Rule 144 permits resales only under certain
circumstances. Such Holder understands that to the extent that Rule 144 is not
available, such Holder will be unable to sell any of the Common Stock without
either registration under the Securities Act or the existence of another
exemption from such registration requirement;

    

    h.           Such
Holder understands that the Common Stock is being offered and sold in reliance
on a transactional exemption from the registration requirement of Federal and
state securities laws and the Company is relying upon the truth and accuracy of
the representations, warranties, agreements, acknowledgments and understandings
of such Holder set forth herein in order to determine the applicability of such
exemptions and the suitability of such Holder to acquire the Common
Stock;

    

    i.           it
has not agreed to act with any other Holder for the purpose of acquiring,
holding, voting or disposing of the Common Stock purchased hereunder for
purposes of Section 13(d) under the Exchange Act, and each Holder is acting
independently with respect to its investment in the Common Stock;

    

    j.           it
has not exercised, assigned, pledged or hypothecated the Warrants (or the
Elected Warrant Stock), in part or in whole; and

    

    k.           it
has delivered this Agreement together with its Series A and/or Series B Warrant
certificate(s) exercisable for the Elected Warrant Stock to Juliet G. Sy at
Troutman Sanders LLP, 600 Peachtree Street, N.E., Suite 5200, Atlanta, Georgia
30308.

    

    4.           The
Holder hereby agrees to indemnify and hold harmless the Company, its officers,
directors, successors and assigns, and any person now or hereafter acting as the
Company’s transfer agent or acting in any similar capacity, from and against any
and all liability, loss, damage and expense in connection with, or arising out
of such person’s actions in accordance with the terms of this
Agreement.

    

    5.           The
Company hereby represents and warrants that:

    

    a.           it
is duly incorporated, validly existing and in good standing under the laws of
the State of Nevada;

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

     

    b.           it
has the requisite power and authority to enter into and perform this Agreement
and the Stockholders Agreement and to consummate the transactions contemplated
hereby and thereby. The execution, delivery and performance of this Agreement
and the Stockholders Agreement by the Company and the consummation by it of the
transactions contemplated hereby and thereby have been duly authorized by all
necessary corporate action, and no further consent or authorization of the
Company or its Board of Directors is required. Each of this Agreement and the
Stockholders Agreement has been duly authorized, executed and delivered by the
Company and constitutes, or shall constitute when executed and delivered, a
valid and binding obligation of the Company enforceable against the Company in
accordance with the terms thereof;

    

    c.           the
execution, delivery and performance of this Agreement and the Stockholders
Agreement and the consummation by the Company of the transactions contemplated
hereby and thereby or relating hereto do not and will not (i) result in a
violation of the Company’s organizational documents or (ii) conflict with, or
constitute a default (or an event which with notice or lapse of time or both
would become a default) under, or give to others any rights of termination,
amendment, acceleration or cancellation of any agreement, indenture or
instrument or obligation to which the Company is a party or by which its
properties or assets are bound, or result in a violation of any law, rule, or
regulation, or any order, judgment or decree of any court or governmental agency
applicable to the Company or its properties (except for such conflicts, defaults
and violations as would not, individually or in the aggregate, have a material
adverse effect on the Company). The Company is not required to obtain any
consent, authorization or order of, or make any filing or registration with, any
court or governmental agency in order for it to execute, deliver or perform any
of its obligations under this Agreement or the Stockholders Agreement;
and

    

    d.           it
has not provided any of the Holders with any material non-public information
concerning the Company in connection with this Agreement and the transactions
contemplated hereby.

    

    6.           The Company shall consummate the
Transaction described herein and issue Common Stock immediately upon the date
hereof with respect to Blue Ridge Investments, L.L.C., Old Lane Cayman Master
Fund, LP, Old Lane US Master Fund, LP, Old Lane HMA Master Fund, LP, QVT Fund
LP, Quintessence Fund L.P., TCW Americas Development Association, L.P.
and Lighthouse Consulting Limited.  With respect to Fame Good, the
Company shall consummate the Transaction described herein and issue Common Stock
upon receipt of the approval of at least a majority of its stockholders of the
Company’s issuance of its Common Stock in the Transaction to Fame
Good.

    

    7.           Miscellaneous.

    

    a.           This
Agreement and the rights of the parties hereunder shall be governed by and
construed in accordance with the laws of the State of New York without regard to
conflict of law principles.

     

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

     

    b.           This
Agreement and, if applicable, the Stockholders Agreement and the Waiver
constitute the entire agreement between the parties regarding the subject
transaction, superseding any prior agreements or understandings between them,
and shall be binding upon the Holder and Holder’s permitted assigns and shall
inure to the benefit of the Company and its successors and assigns.

    

    c.           This
Agreement may be executed in several counterparts, including by way of facsimile
or electronic transmission, each of which shall be deemed an original but all of
which shall constitute one and the same instrument.

    

    [SIGNATURE
PAGES FOLLOW]

     

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

     

    IN WITNESS WHEREOF, this Agreement is
accepted as of the date first written above.

    

    
      
        	
                “Company”

              
	 
      
	
                WUHAN
      GENERAL GROUP (CHINA), INC.

              
	 
      	 
      
	
                By: 

              	
                /s/ Philip Lo

              
	 
      	
                Name:  Philip
      Lo

              
	 
      	
                Title:  Chief
      Financial Officer

              

      

    

    

     [Signature
Page to Warrant Exchange Agreement]

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    
      
        	
                BLUE
      RIDGE INVESTMENTS, L.L.C.

              
	 
      	 
      
	
                By:

              	
                /s/ Chin Chin Teoh

              
	 
      	
                Name:  Chin
      Chin Teoh

              
	 
      	
                Title:  Authorized
      Signatory

              

      

    

    

    
      
        
          
            	
                    Address:

                  	 	
                    c/o
      Bank of America

                  
	 
      	 	
                    100
      N. Tryon Street, Floor 25

                  
	 
      	 	
                    Bank
      of America Corporate Center

                  
	 
      	 	
                    Charlotte,
      NC 28255

                  
	 	 	 
	
                    Number
      of shares of Warrant Stock underlying

                  	 	
                    1,287,554

                  
	
                    Series
      A Warrant to be exchanged under

                  	 	 
      
	
                    the
      Warrant Exchange Agreement:

                  	 	 
      
	 
      	 	 
      
	
                    Number
      of shares of Warrant Stock underlying

                  	 	
                    257,511

                  
	
                    Series
      B Warrant to be exchanged under

                  	 	 
      
	
                    the
      Warrant Exchange Agreement:

                  	 	 
      
	 
      	 	 
      
	
                    Number
      of shares of Common Stock to be issued in exchange for Warrant
      Stock:

                  	 	
                    772,532.50

                  

          

        

      

    

    

    [Signature
Page to Warrant Exchange Agreement]

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    
      
        	
                OLD
      LANE CAYMAN MASTER FUND, LP

              
	 
      	 
      
	
                By:

              	
                /s/ Mukesh Patel

              
	 
      	
                Name:  Mukesh
      Patel

              
	 
      	
                Title:  Managing
      Director

              

      

    

    

    
      
        	
                Address:

              	 	
                399
      Park Ave.

              
	 
      	 	
                New
      York, NY 10022

              
	 
      	 	 
      
	
                Number
      of shares of Warrant Stock underlying

              	 	
                737,454

              
	
                Series
      A Warrant to be exchanged under

              	 	 
      
	
                the
      Warrant Exchange Agreement:

              	 	 
      
	 
      	 	 
      
	
                Number
      of shares of Warrant Stock underlying

              	 	
                737,454

              
	
                Series
      B Warrant to be exchanged under

              	 	 
      
	
                the
      Warrant Exchange Agreement:

              	 	 
      
	 
      	 	 
      
	
                Number
      of shares of Common Stock to be issued

              	 	
                737,454

              
	
                in
      exchange for Warrant Stock:

              	 	 
      

      

    

    

    
      
        	
                OLD
      LANE US MASTER FUND, LP

              
	 
      	 
      
	
                By:

              	
                /s/ Mukesh Patel

              
	 
      	
                Name:  Mukesh
      Patel

              
	 
      	
                Title:  Managing
      Director

              

      

    

    

    
      
        
          	
                  Address:

                	 	
                  399
      Park Ave.

                
	 
      	 	
                  New
      York, NY 10022

                
	 
      	 	 
      
	
                  Number
      of shares of Warrant Stock underlying

                	 	
                  290,775

                
	
                  Series
      A Warrant to be exchanged under

                	 	 
      
	
                  the
      Warrant Exchange Agreement:

                	 	 
      
	 
      	 	 
      
	
                  Number
      of shares of Warrant Stock underlying

                	 	
                  290,775

                
	
                  Series
      B Warrant to be exchanged under

                	 	 
      
	
                  the
      Warrant Exchange Agreement:

                	 	 
      
	 
      	 	 
      
	
                  Number
      of shares of Common Stock to be issued

                	 	
                  290,775

                
	
                  in
      exchange for Warrant Stock:

                	 	 
      

        

      

    

    

    [Signature
Page to Warrant Exchange Agreement]

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    
      
        	
                OLD
      LANE HMA MASTER FUND, LP

              
	 
      	 
      
	
                By:

              	
                /s/ Mukesh Patel

              
	 
      	
                Name:  Mukesh
      Patel

              
	 
      	
                Title:  Managing
      Director

              

      

    

    

    
      
        
          	
                  Address:

                	 	
                  399
      Park Ave.

                
	 
      	 	
                  New
      York, NY 10022

                
	 
      	 	 
      
	
                  Number
      of shares of Warrant Stock underlying

                	 	
                  209,110

                
	
                  Series
      A Warrant to be exchanged under

                	 	 
      
	
                  the
      Warrant Exchange Agreement:

                	 	 
      
	 
      	 	 
      
	
                  Number
      of shares of Warrant Stock underlying

                	 	
                  209,110

                
	
                  Series
      B Warrant to be exchanged under

                	 	 
      
	
                  the
      Warrant Exchange Agreement:

                	 	 
      
	 
      	 	 
      
	
                  Number
      of shares of Common Stock to be issued

                	 	
                  209,110

                
	
                  in
      exchange for Warrant Stock:

                	 	 
      

        

      

    

    

    [Signature
Page to Warrant Exchange Agreement]

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    
      
        	
                QVT
      FUND LP, by its general partner,

              
	
                QVT
      Associates GP LLC

              
	 
      	 
      
	
                By:

              	
                /s/ Tracy Fu

              
	
                By:

              	
                /s/ Yi Cen

              
	 
      	
                Name:  Tracy
      Fu and Yi Cen

              
	 
      	
                Title:  Authorized
      Signatory

              

      

    

    

    
      
        
          	
                  Address:

                	 	
                  c/o
      QVT Financial LP

                
	 
      	 	
                  1177
      Avenue of the Americas, 9th
      Floor

                
	 
      	 	
                  New
      York, NY 10036

                
	 
      	 	 
      
	
                  Number
      of shares of Warrant Stock underlying

                	 	
                  694,227
      Shares

                
	
                  Series
      A Warrant to be exchanged under

                	 	 
      
	
                  the
      Warrant Exchange Agreement:

                	 	 
      
	 
      	 	 
      
	
                  Number
      of shares of Warrant Stock underlying

                	 	
                  8,088
      Shares

                
	
                  Series
      B Warrant to be exchanged under

                	 	 
      
	
                  the
      Warrant Exchange Agreement:

                	 	 
      
	 
      	 	 
      
	
                  Number
      of shares of Common Stock to be issued in

                	 	
                  351,158

                
	
                  exchange
      for Warrant Stock:

                	 	 
      

        

      

    

    

    
      
        	
                QUINTESSENCE
      FUND L.P., by its general partner,

              
	
                QVT
      Associates GP LLC

              
	 
      	 
      
	
                By:

              	
                /s/ Tracy Fu

              
	
                By:

              	
                /s/ Yi Cen

              
	 
      	
                Name:  Tracy
      Fu and Yi Cen

              
	 
      	
                Title:  Authorized
      Signatory

              

      

    

    

    
      
        
          	
                  Address:

                	 	
                  c/o
      QVT Financial LP

                
	 
      	 	
                  1177
      Avenue of the Americas, 9th
      Floor

                
	 
      	 	
                  New
      York, NY 10036

                
	 
      	 	 
      
	
                  Number
      of shares of Warrant Stock underlying

                	 	
                  78,305

                
	
                  Series
      A Warrant to be exchanged under

                	 	 
      
	
                  the
      Warrant Exchange Agreement:

                	 	 
      
	 
      	 	 
      
	
                  Number
      of shares of Warrant Stock underlying

                	 	
                  912

                
	
                  Series
      B Warrant to be exchanged under

                	 	 
      
	
                  the
      Warrant Exchange Agreement:

                	 	 
      
	 
      	 	 
      
	
                  Number
      of shares of Common Stock to be issued in

                	 	
                  39,609

                
	
                  exchange
      for Warrant Stock:

                	 	 
      

        

      

    

    

    [Signature
Page to Warrant Exchange Agreement]

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    
      
        	
                TCW
      AMERICAS DEVELOPMENT ASSOCIATION, L.P.

              
	 
      	 
      
	
                By:

              	
                /s/ Penelope D. Foley

              
	 
      	
                Name:  Penelope
      D. Foley

              
	 
      	
                Title:  Managing
      Director

              

      

    

    

    
      
        
          
            	
                    Address:

                  	 	
                    1251
      Avenue of the Americas

                  
	 
      	 	
                    Suite
      4700

                  
	 
      	 	
                    New
      York, NY 10020

                  
	 	 	 
	
                    Number
      of shares of Warrant Stock underlying

                  	 	
                    515,021

                  
	
                    Series
      A Warrant to be exchanged under

                  	 	
                    Certificate
      # W-A-07-07

                  
	
                    the
      Warrant Exchange Agreement:

                  	 	 
      
	 
      	 	 
      
	
                    Number
      of shares of Warrant Stock underlying

                  	 	
                    515,021

                  
	
                    Series
      B Warrant to be exchanged under

                  	 	
                    Certificate
      # W-B-07-07

                  
	
                    the
      Warrant Exchange Agreement:

                  	 	 
      
	 
      	 	 
      
	
                    Number
      of shares of Common Stock to be issued

                  	 	
                    515,021
      Common

                  
	
                    in
      exchange for Warrant Stock:

                  	 	 
      

          

        

      

    

    

    [Signature
Page to Warrant Exchange Agreement]

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    
      
        	
                LIGHTHOUSE
      CONSULTING LIMITED

              
	 
      	 
      
	
                By:

              	
                /s/ Bai Ye Feng

              
	 
      	
                Name:  Bai
      Ye Feng

              
	 
      	
                Title:  Director

              

      

    

    

    
      
        	
                Address:

              	 	
                Room
      1001, Tung Chai Bldg.

              
	 
      	 	
                86
      Wellington Street

              
	 
      	 	
                Central,
      Hong Kong

              
	 
      	 	 
      
	
                Number
      of shares of Warrant Stock underlying

              	 	
                120,000

              
	
                Series
      A Warrant to be exchanged under

              	 	 
      
	
                the
      Warrant Exchange Agreement:

              	 	 
      
	 
      	 	 
      
	
                Number
      of shares of Warrant Stock underlying

              	 	 
      
	
                Series
      B Warrant to be exchanged under

              	 	 
      
	
                the
      Warrant Exchange Agreement:

              	 	 
      
	 
      	 	 
      
	
                Number
      of shares of Common Stock to be issued

              	 	
                60,000

              
	
                in
      exchange for Warrant Stock:

              	 	 
      

      

    

    

    [Signature
Page to Warrant Exchange Agreement]

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    
      
        	
                FAME
      GOOD INTERNATIONAL LIMITED

              
	 
      	 
      
	
                By:

              	
                /s/ Xu Jie

              
	 
      	
                Name:  Xu
      Jie

              
	 
      	
                Title:  Director

              

      

    

    

    
      
        
          	
                  Address:

                	 	
                  Canglongdao
      Science Park of Wuhan

                
	 
      	 	
                  East
      Lake Hi-Tech Development Zone

                
	 
      	 	
                  Wuhan,
      Hubei 430200, PRC

                
	 
      	 	 
      
	
                  Number
      of shares of Warrant Stock underlying

                	 	
                  2,111,330

                
	
                  Series
      A Warrant to be exchanged under

                	 	 
      
	
                  the
      Warrant Exchange Agreement:

                	 	 
      
	 
      	 	 
      
	
                  Number
      of shares of Warrant Stock underlying

                	 	
                  1,802,575

                
	
                  Series
      B Warrant to be exchanged under

                	 	 
      
	
                  the
      Warrant Exchange Agreement:

                	 	 
      
	 
      	 	 
      
	
                  Number
      of shares of Common Stock to be issued

                	 	
                  1,956,952

                
	
                  in
      exchange for Warrant Stock:

                	 	 
      

        

      

    

    

    [Signature
Page to Warrant Exchange Agreement]Unassociated Document

    Exhibit
10.3

    

    WARRANT
EXCHANGE AGREEMENT

    

    THIS
WARRANT EXCHANGE AGREEMENT, dated as of December 13, 2010 (this “Agreement”) is
entered into by and among Wuhan General Group (China), Inc., a Nevada
corporation (the “Company”), Fame Good
International Limited, a British Virgin Islands Company (“Fame Good”), and the
undersigned holders of the Company’s Series C, AA, BB and/or JJ Warrants
(collectively, the “Holders”).

    

    WITNESSETH

    

    WHEREAS,
the Company currently has Series C, AA, BB and JJ warrants outstanding (the
“Warrants”)
representing the right to purchase an aggregate of 2,272,016 shares (the “Warrant Stock”) of
the Company’s common stock, $0.0001 par value per share (the “Common
Stock”);

    

    WHEREAS,
the Company has offered to exchange all or part of each Holder’s Warrants for
the issuance by the Company of shares of the Company’s Common Stock, in
accordance with the exchange ratios set forth herein;

    

    WHEREAS,
the Transaction (as defined below) shall be made pursuant to an exemption under
the Securities Act of 1933, as amended (the “Securities Act”);
and

    

    WHEREAS,
the parties desire to enter into the Transaction upon the terms and conditions
herein.

    

    NOW,
THEREFORE, in consideration of the mutual covenants contained in this Agreement
and for other good and valuable consideration, the receipt and adequacy of which
are hereby acknowledged, intending to be legally bound hereby, the parties
hereto agree as follows:

    

    1.           On
the Closing Date (as hereinafter defined), each Holder agrees to transfer the
number of shares of Warrant Stock underlying its Warrants as indicated on such
Holder’s signature page hereto (the “Elected Warrant
Stock”) for the issuance by the Company of (i) 1.372921615 shares of the
Company’s Common Stock per share of Series C Elected Warrant Stock; (ii) 0.8203
shares of the Company’s Common Stock per share of Series AA and Series BB
Elected Warrant Stock; and (iii) 0.8288 shares of the Company’s Common Stock per
share of Series JJ Elected Warrant Stock (the “Transaction”).  Each
Holder shall relinquish such Holder’s right, title and interest in the Elected
Warrant Stock to the Company.

    

    2.           The
consummation of the Transaction is referred to in this Agreement as the “Closing.”  The
“Closing Date”
will be the date on which the Closing occurs.  The Closing will occur
within five (5) business days following the satisfaction or waiver of the
condition set forth in paragraph 8.  The Closing will take place at
the offices of Troutman Sanders LLP, 600 Peachtree St., Suite 5200, Atlanta,
Georgia, 30308 or at such other place as the Company and the Holders may
agree.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    3.           Each
Holder hereby represents and warrants that as of the date hereof:

    

    a.           it
acknowledges and agrees to the terms and conditions of the Transaction as
provided for herein;

    

    b.           if
the Holder is a natural person, the execution, delivery and performance by such
person of this Agreement are within such person’s legal right, power and
capacity, require no action by or in respect of or filing with, any governmental
body, agency, or official and do not and will not contravene, or constitute a
default under, any provision of applicable law or regulation or of any
agreement, judgment, injunction, order, decree or other instrument to which such
person is a party or by which such person or any of such person’s properties are
bound.  The signature on the signature page of this Agreement is
genuine, and the Holder has legal competence and capacity to execute the same,
and this Agreement constitutes a valid and binding agreement of the Holder,
enforceable against the Holder in accordance with its terms;

    

    c.           if
the holder is a corporation, limited liability company, trust, partnership or
other entity, it is duly incorporated or organized, validly existing and in good
standing under the laws of the jurisdiction of its incorporation or
organization;

    

    d.           if
the holder is a corporation, limited liability company, trust, partnership or
other entity, it has the requisite power and authority to enter into and perform
this Agreement and to consummate the transactions contemplated hereby. The
execution, delivery and performance of this Agreement by such Holder and the
consummation by it of the transactions contemplated hereby have been duly
authorized by all necessary corporate or partnership action, and no further
consent or authorization of such Holder or its Board of Directors, stockholders,
or partners, as the case may be, is required. This Agreement has been duly
authorized, executed and delivered by such Holder and constitutes, or shall
constitute when executed and delivered, a valid and binding obligation of the
Holder enforceable against the Holder in accordance with the terms
hereof;

    

    e.           the
execution, delivery and performance of this Agreement and the consummation by
such Holder of the transactions contemplated hereby or relating hereto do not
and will not (i) if the Holder is a corporation, limited liability company,
trust, partnership or other entity, result in a violation of such Holder’s
charter documents or bylaws or other organizational documents or (ii) conflict
with, or constitute a default (or an event which with notice or lapse of time or
both would become a default) under, or give to others any rights of termination,
amendment, acceleration or cancellation of any agreement, indenture or
instrument or obligation to which such Holder is a party or by which its
properties or assets are bound, or result in a violation of any law, rule, or
regulation, or any order, judgment or decree of any court or governmental agency
applicable to such Holder or its properties (except for such conflicts, defaults
and violations as would not, individually or in the aggregate, have a material
adverse effect on such Holder). Such Holder is not required to obtain any
consent, authorization or order of, or make any filing or registration with, any
court or governmental agency in order for it to execute, deliver or perform any
of its obligations under this Agreement;

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    

    f.           it
is acquiring the Common Stock solely for its own account for the purpose of
investment and not with a view to or for sale in connection with distribution.
Each Holder does not have a present intention to sell the Common Stock, nor a
present arrangement (whether or not legally binding) or intention to effect any
distribution of the Common Stock to or through any person or entity; provided, however, that by
making the representations herein and subject to Section 3(g) below, such Holder
does not agree to hold the Common Stock for any minimum or other specific term
and reserves the right to dispose of the Common Stock at any time in accordance
with Federal and state securities laws applicable to such disposition. Each
Holder acknowledges that it is able to bear the financial risks associated with
an investment in the Common Stock and has sufficient knowledge and experience in
investing in companies similar to the Company in terms of the Company’s stage of
development so as to be able to evaluate the risks and merits of its investment
in the Company;

    

    g.           it
is an “accredited investor” as defined in Regulation D promulgated under the
Securities Act.  Such Holder is not required to be registered as a
broker-dealer under Section 15 of the Securities Exchange Act of 1934, as
amended (the “Exchange
Act”), and such Holder is not a broker-dealer;

    

    h.           it
understands that the Common Stock must be held indefinitely unless such Common
Stock is registered under the Securities Act or an exemption from registration
is available. Such Holder acknowledges that such Holder is familiar with Rule
144, promulgated pursuant to the Securities Act (“Rule 144”), and that
such person has been advised that Rule 144 permits resales only under certain
circumstances. Such Holder understands that to the extent that Rule 144 is not
available, such Holder will be unable to sell any of the Common Stock without
either registration under the Securities Act or the existence of another
exemption from such registration requirement;

    

    i.           such
Holder understands that the Common Stock is being offered and sold in reliance
on a transactional exemption from the registration requirement of Federal and
state securities laws and the Company is relying upon the truth and accuracy of
the representations, warranties, agreements, acknowledgments and understandings
of such Holder set forth herein in order to determine the applicability of such
exemptions and the suitability of such Holder to acquire the Common
Stock;

    

    j.           it
has not agreed to act with any other Holder for the purpose of acquiring,
holding, voting or disposing of the Common Stock acquired hereunder for purposes
of Section 13(d) under the Exchange Act, and each Holder is acting independently
with respect to its investment in the Common Stock;

    

    k.           it
has not exercised, assigned, pledged or hypothecated the Warrants (or the
Elected Warrant Stock), in part or in whole; and

    

    l.           it
has delivered this Agreement together with its Series C, AA, BB and/or JJ
Warrant certificate(s) (or a properly completed Affidavit of Lost, Stolen or
Destroyed Securities) exercisable for the Elected Warrant Stock to Juliet G. Sy
at Troutman Sanders LLP, 600 Peachtree Street, N.E., Suite 5200, Atlanta,
Georgia 30308.

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    

    4.           Each
Holder hereby agrees to indemnify and hold harmless the Company, its officers,
directors, successors and assigns, and any person now or hereafter acting as the
Company’s transfer agent or acting in any similar capacity, from and against any
and all liability, loss, damage and expense in connection with, or arising out
of such person’s actions in accordance with the terms of this
Agreement.

    

    5.           The
Company hereby represents and warrants that as of the date hereof:

    

    a.           it
is duly incorporated, validly existing and in good standing under the laws of
the State of Nevada;

    

    b.           it
has the requisite power and authority to enter into and perform this Agreement
and to consummate the transactions contemplated hereby. The execution, delivery
and performance of this Agreement by the Company and the consummation by it of
the transactions contemplated hereby have been duly authorized by all necessary
corporate action, and no further consent or authorization of the Company or its
Board of Directors is required. This Agreement has been duly authorized,
executed and delivered by the Company and constitutes, or shall constitute when
executed and delivered, a valid and binding obligation of the Company
enforceable against the Company in accordance with the terms
hereof;

    

    c.           the
execution, delivery and performance of this Agreement and the consummation by
the Company of the transactions contemplated hereby or relating hereto do not
and will not (i) result in a violation of the Company’s organizational documents
or (ii) conflict with, or constitute a default (or an event which with notice or
lapse of time or both would become a default) under, or give to others any
rights of termination, amendment, acceleration or cancellation of any agreement,
indenture or instrument or obligation to which the Company is a party or by
which its properties or assets are bound, or result in a violation of any law,
rule, or regulation, or any order, judgment or decree of any court or
governmental agency applicable to the Company or its properties (except for such
conflicts, defaults and violations as would not, individually or in the
aggregate, have a material adverse effect on the Company). The Company is not
required to obtain any consent, authorization or order of, or make any filing or
registration with, any court or governmental agency in order for it to execute,
deliver or perform any of its obligations under this Agreement; and

    

    d.           it
has not provided any of the Holders with any material non-public information
concerning the Company in connection with this Agreement and the transactions
contemplated hereby.

    

    6.           Each
Holder hereby covenants that:

     

    a.           between
the date hereof and the Closing Date, such Holder shall not take any action that
would, or that could reasonably be expected to, result in any of the
representations and warranties of the Holder set forth in this Agreement
becoming untrue; and

     

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

     

    b.           if
the holder is a corporation, limited liability company, trust, partnership or
other entity, it will, between the date hereof and the Closing Date, maintain
its existence and good standing in its jurisdiction of organization and in each
jurisdiction in which the ownership or leasing of its property or the conduct of
its business requires such qualification, and that it will not amend or modify
its charter documents.

    

    7.           The
Company hereby covenants that between the date hereof and the Closing Date, the
Company shall not take any action that would, or that could reasonably be
expected to, result in any of the representations and warranties of the Company
set forth in this Agreement becoming untrue.

     

    

    8.           The
respective obligations of each party to effect the transactions contemplated by
this Agreement will be subject to the Company obtaining, at or prior to the
Closing, the approval of at least a majority of its stockholders of the
Company’s issuance of its Common Stock in the Transaction.

    

    9.           Fame
Good hereby agrees to vote all of its shares of Common Stock in favor of
approving the Transaction when and at such time as the Company shall seek the
approval of its stockholders to issue Common Stock as contemplated by the
Transaction.

    

    10.          Miscellaneous.

    

    a.           This
Agreement and the rights of the parties hereunder shall be governed by and
construed in accordance with the laws of the State of New York without regard to
conflict of law principles.

    

    b.           This
Agreement constitutes the entire agreement between the parties regarding the
subject transaction, superseding any prior agreements or understandings between
them, and shall be binding upon the Holder and Holder’s permitted assigns and
shall inure to the benefit of the Company and its successors and
assigns.

    

    c.           This
Agreement may be executed in several counterparts, including by way of facsimile
or electronic transmission, each of which shall be deemed an original but all of
which shall constitute one and the same instrument.

    

    [SIGNATURE
PAGES FOLLOW]

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

    IN
WITNESS WHEREOF, this Agreement is accepted as of the date first written
above.

    

    
      
        	
                “Company”

              
	 
      
	
                WUHAN
      GENERAL GROUP (CHINA), INC.

              
	 
      	 
      
	
                By:

              	
                /s/ Philip
      Lo_______________________

              
	 
      	
                Name:  Philip
      Lo

              
	 
      	
                Title:  Chief
      Financial Officer

              

      

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    
      
        	
                “Fame
      Good”

              
	 
      
	
                FAME
      GOOD INTERNATIONAL LIMITED

              
	 
      	 
      
	
                By:

              	
                /s/ Xu Jie 

              
	 
      	
                Name:  Xu
      Jie

              
	 
      	
                Title:  Director

              

      

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    
      
        	
                HOWARD
      B. LANDERS and CINDY E. LANDERS,

              
	
                as
      Tenants by the Entirety

              
	 
      
	
                /s/ Howard B. Landers and Cindy E. Landers as
      TBE

              

      

    

    

    
      
        
          
            
              	
                      Address:

                    	 
      	 
      
	
                      9881
      SW 131 Street

                    	 
      	 
      
	
                      Miami,
      FL 33176

                    	 
      	 
      
	 
      	 
      	 
      
	
                      Number
      of shares of Warrant Stock underlying

                    	 
      	
                      0

                    
	
                      Series
      C Warrant to be exchanged under

                    	 
      	 
      
	
                      the
      Warrant Exchange Agreement:

                    	 
      	 
      
	 
      	 
      	 
      
	
                      Number
      of shares of Warrant Stock underlying

                    	 
      	
                      24,691

                    
	
                      Series
      AA Warrant to be exchanged under

                    	 
      	 
      
	
                      the
      Warrant Exchange Agreement:

                    	 
      	 
      
	 
      	 
      	 
      
	
                      Number
      of shares of Warrant Stock underlying

                    	 
      	
                      15,286

                    
	
                      Series
      BB Warrant to be exchanged under

                    	 
      	 
      
	
                      the
      Warrant Exchange Agreement:

                    	 
      	 
      
	 
      	 
      	 
      
	
                      Number
      of shares of Warrant Stock underlying

                    	 
      	
                      25,476

                    
	
                      Series
      JJ Warrant to be exchanged under

                    	 
      	 
      
	
                      the
      Warrant Exchange Agreement:

                    	 
      	 
      
	 
      	 
      	 
      
	
                      Number
      of shares of Common Stock to be issued in exchange for Warrant
      Stock:

                    	 
      	
                      53,908

                    

            

          

        

      

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    
      
        	
                A.
      RAINEY GRAY

              
	 
      
	
                /s/ A. Rainey
  Gray

              

      

    

    

    
      
        	
                Address:

              	 
      	 
      
	 
      	 
      	 
      
	
                800
      Sawyer Bend Court

              	 
      	 
      
	
                Franklin,
      TN 37069

              	 
      	 
      
	 
      	 
      	 
      
	
                Number
      of shares of Warrant Stock underlying

              	 
      	
                41,150

              
	
                Series
      C Warrant to be exchanged under

              	 
      	 
      
	
                the
      Warrant Exchange Agreement:

              	 
      	 
      
	 
      	 
      	 
      
	
                Number
      of shares of Warrant Stock underlying

              	 
      	
                24,691

              
	
                Series
      AA Warrant to be exchanged under

              	 
      	 
      
	
                the
      Warrant Exchange Agreement:

              	 
      	 
      
	 
      	 
      	 
      
	
                Number
      of shares of Warrant Stock underlying

              	 
      	
                15,286

              
	
                Series
      BB Warrant to be exchanged under

              	 
      	 
      
	
                the
      Warrant Exchange Agreement:

              	 
      	 
      
	 
      	 
      	 
      
	
                Number
      of shares of Warrant Stock underlying

              	 
      	
                25,476

              
	
                Series
      JJ Warrant to be exchanged under

              	 
      	 
      
	
                the
      Warrant Exchange Agreement:

              	 
      	 
      
	 
      	 
      	 
      
	
                Number
      of shares of Common Stock to be issued in exchange for Warrant
      Stock:

              	 
      	
                110,403

              

      

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    
      
        	
                ANDREW
      TUSSING

              
	 
      
	
                /s/ Andrew
  Tussing

              

      

    

    

    
      
        	
                Address:

              	 
      	 
      
	 
      	 
      	 
      
	
                10212
      Little Brick House Court

              	 
      	 
      
	
                Ellicott
      City, MD 21042

              	 
      	 
      
	 
      	 
      	 
      
	
                Number
      of shares of Warrant Stock underlying

              	 
      	
                20,575

              
	
                Series
      C Warrant to be exchanged under

              	 
      	 
      
	
                the
      Warrant Exchange Agreement:

              	 
      	 
      
	 
      	 
      	 
      
	
                Number
      of shares of Warrant Stock underlying

              	 
      	
                12,345

              
	
                Series
      AA Warrant to be exchanged under

              	 
      	 
      
	
                the
      Warrant Exchange Agreement:

              	 
      	 
      
	 
      	 
      	 
      
	
                Number
      of shares of Warrant Stock underlying

              	 
      	
                7,643

              
	
                Series
      BB Warrant to be exchanged under

              	 
      	 
      
	
                the
      Warrant Exchange Agreement:

              	 
      	 
      
	 
      	 
      	 
      
	
                Number
      of shares of Warrant Stock underlying

              	 
      	
                12,738

              
	
                Series
      JJ Warrant to be exchanged under

              	 
      	 
      
	
                the
      Warrant Exchange Agreement:

              	 
      	 
      
	 
      	 
      	 
      
	
                Number
      of shares of Common Stock to be issued in exchange for Warrant
      Stock:

              	 
      	
                55,201

              

      

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    
      
        	
                LI
      JUN

              
	 
      
	
                /s/ Li
Jun

              

      

    

    

    
      
        	
                Address:

              	 
      	
                Rm
      1201, Building #69

              
	 
      	 
      	
                Lane
      1881 Dongfang Road

              
	 
      	 
      	
                Pudong
      District

              
	 
      	 
      	
                Shanghai

              
	 
      	 
      	
                PR
      China

              
	 
      	 
      	 
      
	
                Number
      of shares of Warrant Stock underlying

              	 
      	
                0

              
	
                Series
      C Warrant to be exchanged under

              	 
      	 
      
	
                the
      Warrant Exchange Agreement:

              	 
      	 
      
	 
      	 
      	 
      
	
                Number
      of shares of Warrant Stock underlying

              	 
      	
                123,451

              
	
                Series
      AA Warrant to be exchanged under

              	 
      	 
      
	
                the
      Warrant Exchange Agreement:

              	 
      	 
      
	 
      	 
      	 
      
	
                Number
      of shares of Warrant Stock underlying

              	 
      	
                76,429

              
	
                Series
      BB Warrant to be exchanged under

              	 
      	 
      
	
                the
      Warrant Exchange Agreement:

              	 
      	 
      
	 
      	 
      	 
      
	
                Number
      of shares of Warrant Stock underlying

              	 
      	
                127,381

              
	
                Series
      JJ Warrant to be exchanged under

              	 
      	 
      
	
                the
      Warrant Exchange Agreement:

              	 
      	 
      
	 
      	 
      	 
      
	
                Number
      of shares of Common Stock to be issued in exchange for Warrant
      Stock:

              	 
      	
                269,535

              

      

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    
      
        	
                JOHN
      STARR and ELIZABETH STARR,

              
	
                as
      Tenants by the Entirety

              
	 
      
	
                /s/ John Starr and Elizabeth
      Starr

              

      

    

    

    
      
        
          
            	
                    Address:

                  	 
      	 
      
	 
      	 
      	 
      
	
                    161
      Spring House Road

                  	 
      	 
      
	
                    Fairfield,
      CT 06824

                  	 
      	 
      
	 
      	 
      	 
      
	
                    Number
      of shares of Warrant Stock underlying

                  	 
      	
                    265,380

                  
	
                    Series
      C Warrant to be exchanged under

                  	 
      	 
      
	
                    the
      Warrant Exchange Agreement:

                  	 
      	 
      
	 
      	 
      	 
      
	
                    Number
      of shares of Warrant Stock underlying

                  	 
      	
                    159,228

                  
	
                    Series
      AA Warrant to be exchanged under

                  	 
      	 
      
	
                    the
      Warrant Exchange Agreement:

                  	 
      	 
      
	 
      	 
      	 
      
	
                    Number
      of shares of Warrant Stock underlying

                  	 
      	
                    98,579

                  
	
                    Series
      BB Warrant to be exchanged under

                  	 
      	 
      
	
                    the
      Warrant Exchange Agreement:

                  	 
      	 
      
	 
      	 
      	 
      
	
                    Number
      of shares of Warrant Stock underlying

                  	 
      	
                    164,298

                  
	
                    Series
      JJ Warrant to be exchanged under

                  	 
      	 
      
	
                    the
      Warrant Exchange Agreement:

                  	 
      	 
      
	 
      	 
      	 
      
	
                    Number
      of shares of Common Stock to be issued in exchange for Warrant
      Stock:

                  	 
      	
                    711,995

                  

          

        

      

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    
      
        	
                JAY
      GUTTERMAN and CINDY GUTTERMAN,

              
	
                as
      Tenants by the Entirety

              
	 
      
	
                /s/ Jay Gutterman and Cindy
      Gutterman

              

      

    

    

    
      
        	
                Address:

              	 
      	 
      
	 
      	 
      	 
      
	
                Number
      of shares of Warrant Stock underlying

              	 
      	
                20,000

              
	
                Series
      C Warrant to be exchanged under

              	 
      	 
      
	
                the
      Warrant Exchange Agreement:

              	 
      	 
      
	 
      	 
      	 
      
	
                Number
      of shares of Warrant Stock underlying

              	 
      	
                99,686

              
	
                Series
      AA Warrant to be exchanged under

              	 
      	 
      
	
                the
      Warrant Exchange Agreement:

              	 
      	 
      
	 
      	 
      	 
      
	
                Number
      of shares of Warrant Stock underlying

              	 
      	
                61,716

              
	
                Series
      BB Warrant to be exchanged under

              	 
      	 
      
	
                the
      Warrant Exchange Agreement:

              	 
      	 
      
	 
      	 
      	 
      
	
                Number
      of shares of Warrant Stock underlying

              	 
      	
                102,861

              
	
                Series
      JJ Warrant to be exchanged under

              	 
      	 
      
	
                the
      Warrant Exchange Agreement:

              	 
      	 
      
	 
      	 
      	 
      
	
                Number
      of shares of Common Stock to be issued in exchange for Warrant
      Stock:

              	 
      	
                245,108

              

      

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    
      
        	
                STEVE
      SWAIN

              
	 
      
	
                /s/ Steve
Swain

              

      

    

    

    
      
        
          
            
              
                
                  	
                          Address:

                        	 
      	 
      
	 
      	 
      	 
      
	
                          Number
      of shares of Warrant Stock underlying

                        	 
      	
                          100,000

                        
	
                          Series
      C Warrant to be exchanged under

                        	 
      	 
      
	
                          the
      Warrant Exchange Agreement:

                        	 
      	 
      
	 
      	 
      	 
      
	
                          Number
      of shares of Warrant Stock underlying

                        	 
      	
                          59,999

                        
	
                          Series
      AA Warrant to be exchanged under

                        	 
      	 
      
	
                          the
      Warrant Exchange Agreement:

                        	 
      	 
      
	 
      	 
      	 
      
	
                          Number
      of shares of Warrant Stock underlying

                        	 
      	
                          37,146

                        
	
                          Series
      BB Warrant to be exchanged under

                        	 
      	 
      
	
                          the
      Warrant Exchange Agreement:

                        	 
      	 
      
	 
      	 
      	 
      
	
                          Number
      of shares of Warrant Stock underlying

                        	 
      	
                          61,911

                        
	
                          Series
      JJ Warrant to be exchanged under

                        	 
      	 
      
	
                          the
      Warrant Exchange Agreement:

                        	 
      	 
      
	 
      	 
      	 
      
	
                          Number
      of shares of Common Stock to be issued in exchange for Warrant
      Stock:

                        	 
      	
                          268,292

                        

                

              

            

          

        

      

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    
      
        
          
            	
                    SPRING
      HOUSE CAPITAL, LLC

                  
	 
      	 
      
	
                    By:

                  	 
      /s/ John H. Starr
	 
      	
                    Name:  John
      H. Starr

                  
	 
      	
                    Title:  President

                  

          

        

      

    

    

    
      
        	
                Address:

              	 
      	 
      
	 
      	 
      	 
      
	
                161
      Spring House Road

              	 
      	 
      
	
                Fairfield,
      CT 06824

              	 
      	 
      
	 
      	 
      	 
      
	
                Number
      of shares of Warrant Stock underlying

              	 
      	
                188,605

              
	
                Series
      C Warrant to be exchanged under

              	 
      	 
      
	
                the
      Warrant Exchange Agreement:

              	 
      	 
      
	 
      	 
      	 
      
	
                Number
      of shares of Warrant Stock underlying

              	 
      	
                113,162

              
	
                Series
      AA Warrant to be exchanged under

              	 
      	 
      
	
                the
      Warrant Exchange Agreement:

              	 
      	 
      
	 
      	 
      	 
      
	
                Number
      of shares of Warrant Stock underlying

              	 
      	
                70,060

              
	
                Series
      BB Warrant to be exchanged under

              	 
      	 
      
	
                the
      Warrant Exchange Agreement:

              	 
      	 
      
	 
      	 
      	 
      
	
                Number
      of shares of Warrant Stock underlying

              	 
      	
                116,767

              
	
                Series
      JJ Warrant to be exchanged under

              	 
      	 
      
	
                the
      Warrant Exchange Agreement:

              	 
      	 
      
	 
      	 
      	 
      
	
                Number
      of shares of Common Stock to be issued in exchange for Warrant
      Stock:

              	 
      	
                506,014

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