Document:

Registration
      Rights Agreement

     

    This
      REGISTRATION RIGHTS AGREEMENT (this “Agreement”) is made as of February
      ___,
      2008,
      and
      between Neuralstem, Inc., a Delaware corporation (the “Company”) and
CJ
      CheilJedang Corporation, a Korean corporation
      (“Purchaser”).

     

    WHEREAS,
      subject to the terms and conditions of the Securities Purchase Agreement, of
      even date herewith, by and between the Company and Purchaser (the “Securities
      Purchase Agreement”), the Company has sold shares of its common stock (the
“Shares”) to Purchaser; and

     

    WHEREAS,
      subject to the terms and conditions set forth herein, the Company has agreed
      to
      grant certain registration rights to Purchaser with respect to the
      Shares.

     

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

     

    Section
      1.  Definitions.
      

    

    Capitalized
      terms used and not otherwise defined herein are
      as
      defined in the Securities Purchase Agreement. 

    

    For
      purposes of this Agreement, the following terms shall have the following
      respective meanings:

     

    “1933
      Act” means the Securities Act of 1933, as amended.

     

    “1934
      Act” means the Securities Exchange Act of 1934, as amended.

     

    “Business
      Day” means any day except Saturday, Sunday, any day which is a national legal
      holiday in the United States or the Republic of Korea or any day on which
      banking institutions in the State of New York or Seoul are authorized or
      required by law or other governmental action to close.

    

    “Common
      Stock” means the common stock of the Company, par value $.01 per share, and any
      other class of securities into which such securities may hereafter be
      reclassified or changed into.

    

    “Common
      Stock Equivalents” means any securities of the Company or the Subsidiaries which
      would entitle the holder thereof to acquire at any time Common Stock, including,
      without limitation, any debt, preferred stock, rights, options, warrants or
      other instrument that is at any time convertible into or exercisable or
      exchangeable for, or otherwise entitles the holder thereof to receive, Common
      Stock.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    “Eligible
      Period” means the period (a) commencing from
      the
Closing
      Date (as defined in the Securities Purchase
      Agreement)
      and (b)
      terminating when Purchaser is eligible to sell all the Registrable Shares
      pursuant to Rule 144k.

     

    “Register,”
      “registered,” and “registration” refers to a registration effected by preparing
      and filing a registration statement or similar document in compliance with
      the
      1933 Act, and the declaration or ordering of effectiveness of such registration
      statement or document.

     

    “Registrable
      Shares” means the shares of common stock of the Company issued or issuable to
      the Stockholder in accordance with the terms and conditions of the Securities
      Purchase Agreement, and any securities of the Company issued as a dividend
      on or
      other distribution with respect to, or in exchange for or replacement of, such
      common stock.Notwithstanding anything herein to the contrary, shares that may
      be
      resold immediately pursuant to Rule 144 without volume or manner restrictions
      shall no longer be deemed Registrable Securities.

    

    “Registration
      Statement” means any registration statement described in Section
      2 of
      this Agreement.

     

    “Rule
      144” means Rule 144 promulgated under the 1933 Act.

    

    “Rule
      415” means Rule 415 promulgated by the Commission pursuant to the Securities
      Act, as such Rule may be amended or interpreted from time to time, or any
      similar rule or regulation hereafter adopted by the Commission having
      substantially the same purpose and effect as such Rule.

     

    “Stockholder”
      shall mean Purchaser and/or
      any
      assignee or transferee of Purchaser’s rights and obligations under this
      Agreement.

     

    –“SEC”
      means the Securities and Exchange Commission.

    

    “Securities
      Purchase Agreement” shall mean that securities purchase agreement of even date
      herewith between the Company and Purchaser.

     

    Section
      2. Registration
      Rights.

     

    (a) Piggyback
      Registration.If
      during
      the first
      ninety (90) days of the Eligible
      Period, the Company proposes to register (for its own account, on behalf of
      its
      existing stockholders, or a combination of the foregoing) any of its common
      stock under the 1933 Act in connection with a public offering of such common
      stock solely for cash (other than a registration relating primarily to the
      sale
      of securities to participants in a Company stock plan or employee benefit plan,
      a transaction covered by Rule 145 under the 1933 Act or the resale of securities
      issued in such a transaction, a registration in which the only stock being
      registered is Common Stock issuable upon conversion or exchange of debt
      securities which are also being registered,
      the
      Company shall, at such time, give the Stockholder notice of such
      registration
      no later
      than fifteen (15) Business Days before the date of filing.
      Upon
      the written request of the Stockholder, given within seven
      (7)
      Business
      Days
      after notice has been given by the Company, the Company shall, subject to
this
      Section
      2(a)(i)
      -
      (iii),
      cause
      to be registered under the 1933 Act all of the Registrable Shares that the
      Stockholder has requested to be registered.
      If the
      Stockholder decides not to include all or portion of its Registrable Shares
      in
      any registration statement filed by the Company, the Stockholder shall
      nevertheless continue to have the right to include any Registrable Shares in
      any
      subsequent registration statement or registration statements as may be filed
      by
      the Company with respect to offerings of its securities, all upon the terms
      and
      conditions set forth herein.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    (i) In
      connection with any underwritten public offering
      under
      this Section 2(a),
      the
      Company shall not be required to include any of the Stockholder Registrable
      Shares in such underwriting unless the Stockholder accepts the terms of the
      underwriting as agreed upon between the Company and the underwriters for the
      offering (which underwriters shall be selected by the Company).

     

    (ii)
       If
      the
      total amount of securities, including Registrable Shares, requested to be
      included in an underwritten public offering exceeds the amount of securities
      that the underwriters determine in their sole discretion is compatible with
      the
      success of the offering, then the Company shall be required to include in the
      offering only that number of such securities, including Registrable Shares,
      which the underwriters determine in their sole discretion will not jeopardize
      the success of the offering. In such event, the Company may reduce the number
      of,
      but not
      exclude in their entirety,
      Registrable Shares to be included in the offering concurrently
      with
      reducing
      or excluding the shares proposed to be offered by the Company, the holders
      of
      registration rights under the existing registration rights agreement;
      provided that if any other selling shareholder are included in the offering,
      the
      Company shall use its reasonable best efforts so that the number of shares
      that
      is actually included in the underwritten public offering, including Registrable
      Shares, is in proportion, as nearly as practicable, to the respective amounts
      of
      shares held by each holder of the shares requested to be included; provided,
      further, that the number of Registrable Shares to be included in such
      underwritten public offering shall not be reduced to a number of shares, the
      reasonably anticipated aggregate price to the public of which (before deduction
      of underwriting discounts and commissions) would equal less than the
      Subscription Amount (as defined in the Securities Purchase Agreement), without
      the prior consent of the Stockholder.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    (iii) If
      at any
      time the SEC takes the position that the offering of some or all of the
      Registrable Shares in a Registration Statement is not eligible to be made on
      a
      delayed or continuous basis under the provisions of Rule 415 under the 1933
      Act,
      the Company shall use its reasonable best efforts to persuade the SEC that
      the
      offering contemplated by the Registration Statement is a valid secondary
      offering and not an offering “by or on behalf of the issuer” as defined in Rule
      415.In the event that, despite the Company’s reasonable best efforts and
      compliance with the terms of this Section 2(a)(iii)
      the SEC refuses to alter its position, the Company shall,
      upon
      obtaining consent of the Stockholder,
      (i)
      remove from the Registration Statement such portion of the Registrable Shares
      (the “Cut Back Shares”) and/or (ii) agree to such restrictions and limitations
      on the registration and resale of the Registrable Shares as the SEC may require
      to assure the Company’s compliance with the requirements of Rule 415.Within 9
      months of the initial registration filed hereunder being declared effective,
      the
      Company shall file an additional registration statement containing the Cut
      Back
      Shares.With regard to the new Registration Statement, all of the provisions
      of
      this Section 2(a)(iii)
      shall again be applicable to the Cut Back Shares.

    

    (b) Demand
      Registration.
      If on
      or after the ninety first (91st) day of the Eligible Period the Company shall
      receive a written request froma Stockholder that the Company file a registration
      statement under the 1933 Act covering the registration of all of the Registrable
      Shares then outstanding, then the Company shall, within seven (7) Business
      Days
      of the receipt of such written request, give written notice of such request
      (“Request Notice”) to all Stockholder, and use its best efforts to effect, as
      soon as practicable, the registration under the 1933 Act of all Registrable
      Shares that the Stockholders request to be registered and included in such
      registration by written notice given by such Stockholders to the Company within
      fifteen (15) Business Days after receipt of the Request Notice.

    

    

    Section
      3. Obligations
      of the Company and Stockholder.Whenever
      required to effect the registration of any Registrable Shares under this
      Agreement the Company shall, as expeditiously as reasonably
      possible:

    

    (a) Prepare
      and file
      with
the
      SEC a
      Registration Statement with respect
      to such
      Registrable Shares and use its best efforts to cause such
      Registration Statement to
      become
      effective; provided, however, that
      the
      Company shall not
      be
      required to keep any such Registration Statement effective for more than ninety
      (90) days;

    

    (b) Furnish
      to the Stockholder copies of
      a
      prospectus (including
      any
      preliminary prospectus)
      and, as
      soon as reasonably possible after the effectiveness of the Registration
      Statement, furnish to the Stockholder such numbers of copies of a final
      prospectus in conformity with the requirements of the 1933 Act, and such other
      documents as the Stockholder may reasonably request, in order to facilitate
      the
      resale or other disposition of Registrable Shares owned by it;

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    (c) Use
      its
      best efforts to register and qualify the securities covered by such Registration
      Statement under such other securities or “blue sky” laws of such jurisdictions
      as shall be reasonably requested by the Stockholders; provided that the Company
      shall not be required in connection therewith or as a condition thereto to
      qualify to do business or to file a general consent to service of process in
      any
      such states or jurisdictions;

    

    (d) In
      the
      event of any underwritten public offering, enter into and perform its
      obligations under an underwriting agreement in usual and customary form, with
      the managing underwriter(s) of such offering.Each Stockholder participating
      in
      such underwriting shall also enter into and perform its obligations under such
      an agreement;

    

    (e) Furnish,
      at the request of any Stockholder requesting registration of Registrable Shares,
      on the date that such Registrable Shares are delivered to the underwriter(s)
      for
      sale, if such securities are being sold through underwriters, or, if such
      securities are not being sold through underwriters, on the date that the
      Registration Statement with respect to such securities becomes effective, (i)
      an
      opinion, dated as of such date, of the counsel representing the Company for
      the
      purposes of such registration, in form and substance as is customarily given
      to
      underwriters in an underwritten public offering and reasonably satisfactory
      to a
      majority in interest of the Stockholders requesting registration, addressed
      to
      the underwriters, if any, and to the Stockholders requesting registration of
      Registrable Shares and (ii) a “comfort” letter dated as of such date, from the
      independent certified public accountants of the Company, in form and substance
      as is customarily given by independent certified public accountants to
      underwriters in an underwritten public offering and reasonably satisfactory
      to a
      majority in interest of the Stockholders requesting registration, addressed
      to
      the underwriters, if any, and to the Stockholders requesting registration of
      Registrable Shares.

    

    Section
      4.  Obligations
      of the Stockholder.

     

    (a) Stockholder
      shall furnish in writing to the Company such information regarding itself,
      the
      Registrable Shares held by it and the intended method of disposition of the
      Registrable Shares held by it, as shall be reasonably required to effect the
      registration of such Registrable Shares and shall execute such documents in
      connection with such registration as the Company may reasonably request.At
      least
ten
      (10)
      Business Days prior to the first anticipated filing date of any Registration
      Statement, the Company shall notify Stockholder of the information the Company
      requires from such Stockholder if such Stockholders elects to have any of the
      Registrable Shares included in the Registration Statement.Stockholder shall
      provide such information to the Company at least two (2) Business Days prior
      to
      the first anticipated filing date of such Registration Statement if Stockholder
      elects to have any of the Registrable Shares included in the Registration
      Statement.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    (b) Stockholder
      agrees to cooperate with the Company as reasonably requested by the Company
      in
      connection with the preparation and filing of a Registration Statement
      hereunder, unless Stockholderr has notified the Company in writing of its
      election to exclude all of its Registrable Shares from such Registration
      Statement.

     

    Section
      5. Amendments.
      With
      respect to a Registration Statement filed pursuant to Section 2
      of this
      Agreement, the Company shall prepare and file with the SEC such amendments
      to
      the Registration Statement and amendments or supplements to the prospectus
      contained therein as may be necessary to keep such Registration Statement
      effective and such Registration Statement and prospectus accurate and complete
      for the entire period for which the Registration Statement remains
      effective.

     

    Section
      6. Notices.The
      Company shall:

     

    (a)
       Notify
      the Stockholder, promptly after it shall receive notice thereof, of the date
      and
      time when any Registration Statement and each post-effective amendment thereto
      has become effective;

     

    (b)
       Notify
      the Stockholder promptly of any request by the SEC for the amending or
      supplementing of any Registration Statement or prospectus or for additional
      information;

     

    (c)
       Notify
      the Stockholder, at any time when a prospectus relating to the Registrable
      Shares is required to be delivered under the Securities Act, of any event which
      would cause any such prospectus or any other prospectus as then in effect to
      include an untrue statement of a material fact or omit to state any material
      fact required to be stated therein or necessary to make the statements therein,
      in light of the circumstances under which they were made, not misleading,
      promptly prepare and file with the SEC, and promptly notify the Stockholder
      of
      the filing of, such amendments or supplements to any Registration Statement
      or
      prospectus as may be necessary to correct any such statements or
      omissions;

     

    (d)
       Notify
      Stockholder, promptly after it shall receive notice of the issuance of any
      stop
      order by the SEC suspending the effectiveness of any Registration Statement
      or
      the initiation or threatening of any proceeding for that purpose and promptly
      use commercially reasonable efforts to prevent the issuance of any stop order
      or
      to obtain its withdrawal if such stop order should be issued.

     

    Section
      7.  Conditions
      and Limitations On Registration Rights.The
      registration rights granted by this Agreement are subject to the following
      additional conditions and limitations:

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    (a) Amended
      Or Supplemented Prospectus.
      The
      Stockholder agrees that, upon receipt of any notice from the Company that
      suspends an effective Registration Statement, the Stockholder shall forthwith
      discontinue disposition of Registrable Shares until such Stockholder's receipt
      of copies of a supplemented or amended prospectus from the Company, or until
      it
      is advised in writing by the Company that the use of the prospectus may be
      resumed, and has received copies of any additional or supplemental filings
      which
      are incorporated by reference in the prospectus. If so directed by the Company,
      the Stockholder will deliver to the Company all copies of the prospectus
      covering such Registrable Shares current at the time of receipt of such notice
      of suspension.

    

    (b)
      Discontinued
      Disposition. By its acquisition of Registrable Shares, Stockholder agrees that,
      upon receipt of a notice from the Company of:
      (i) the
      issuance by the SEC
      or any
      other federal or state governmental authority of any stop order suspending
      the
      effectiveness of a Registration Statement covering any or all of the Registrable
      Shares or the initiation of any proceedings for that purpose; (ii) the receipt
      by the Company of any notification with respect to the suspension of the
      qualification or exemption from qualification of any of the Registrable Shares
      for sale in any jurisdiction, or the initiation or threatening of any proceeding
      for such purpose; (iii) the occurrence of any event or passage of time that
      makes the financial statements included in a Registration Statement ineligible
      for inclusion therein or any statement made in a Registration Statement or
      prospectus or any document incorporated or deemed to be incorporated therein
      by
      reference untrue in any material respect or that requires any revisions to
      a
      Registration Statement, prospectus or other documents so that, in the case
      of a
      Registration Statement or the prospectus, as the case may be, it will not
      contain any untrue statement of a material fact or omit to state any material
      fact required to be stated therein or necessary to make the statements therein,
      in light of the circumstances under which they were made, not misleading; and
      (iv) of the occurrence or existence of any pending corporate development with
      respect to the Company that the Company reasonably
      believes
      may be material and that, in the
      reasonable
      determination of the Company, makes it not in the best interest of the Company
      to allow continued availability of a Registration Statement or prospectus,
      Stockholder will forthwith discontinue disposition of such Registrable Shares
      under a Registration Statement until it is advised in writing (the “Advice”) by
      the Company that the use of the applicable prospectus (as it may have been
      supplemented or amended) may be resumed.The Company will use its best efforts
      to
      ensure that the use of the prospectus may be resumed as promptly as it
      practicable.Any such information provided to Stockholder by the Company shall
      remain confidential to Stockholder until such information otherwise becomes
      public, unless disclosure by the Stockholder is required by law; provided,
      further, that notwithstanding Stockholder’s agreement to keep such information
      confidential, each such Stockholder
      makes no
      acknowledgement that any such information is material, non-public
      information.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    Section
      8.  Indemnification.

     

    (a) The
      Company will indemnify the Stockholder, each of its officers, directors and
      partners, legal counsel, agents and each person controlling the Stockholder
      within the meaning of Section 15 of the 1933 Act
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      with
      respect to which registration, qualification or compliance has been effected
      pursuant to this Agreement, and each underwriter, if any, and each person who
      controls any underwriter within the meaning of Section 15 of the 1933
      Act
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      against
      all expenses, claims, losses, damages and liabilities (or actions in respect
      thereof), including any of the foregoing incurred in settlement of any
      litigation, (commenced or threatened), arising out of or based on any untrue
      statement (or alleged untrue statement) of a material fact contained in any
      registration statement, prospectus, or other document, or any amendment or
      supplement thereto, incident to any such registration, qualification or
      compliance, or based on any omission (or alleged omission) to state therein
      a
      material fact required to be stated therein or necessary to make the statements
      therein, in the light of the circumstances under which they were made, not
      misleading, or any violation by the Company of the 1933 Act, the 1934 Act,
      and
      any state securities laws or any rule, regulation or qualification promulgated
      thereunder, and the Company will reimburse the Stockholder, each of its
      officers, directors, and partners, legal counsel, agents and each person
      controlling the Stockholder, each such underwriter and each person who controls
      any such underwriter, for any legal and any other expenses reasonably incurred,
      in connection with investigating, preparing or defending any such claim, loss,
      damage, liability or action, PROVIDED, HOWEVER, that the Company will not be
      liable to
      any of
      the aforementioned person in
      any
      such case to the extent that any such claim, loss, damage, liability or expense
      arises out of or is based on any untrue statement or omission or alleged untrue
      statement or omission, made in reliance upon and in conformity with written
      information furnished to the Company by such
      person expressly
      for use therein.

     

    The
      foregoing indemnity is subject to the condition that, insofar as it relates
      to
      any such untrue statement, alleged untrue statement, omission or alleged
      omission made in a preliminary prospectus on file with the SEC at the time
      the
      registration statement becomes effective or the amended prospectus filed with
      the SEC pursuant to Rule 424(b), as amended from time to time (the “Final
      Prospectus”), such indemnity shall not inure to the benefit of: (a) the
      Stockholder (i) if a copy of the Final Prospectus was not furnished by the
      Stockholder to the person asserting the loss, liability, claim or damage at
      or
      prior to the time such action as required by the 1933 Act and such Final
      Prospectus would have cured the defect giving rise to the loss, liability,
      claim
      or damage or (ii) to the extent that such untrue statement, alleged untrue
      statement, omission or alleged omission is made in reliance upon and in
      conformity with written information furnished to the Company by the Stockholder
      expressly for use therein, or (b) any underwriter (i) if a copy of the Final
      Prospectus was not furnished to the person asserting the loss, liability, claim
      or damage at or prior to the time such action as required by the 1933 Act and
      the Final Prospectus would have cured the defect giving rise to the loss,
      liability, claim or damage or (ii) to the extent that such untrue statement,
      alleged untrue statement, omission or alleged omission is made in reliance
      on
      and in conformity with written information furnished to the Company by the
      underwriter for use therein.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    (b) The
      Stockholder will, if Registrable Shares held by the Stockholder are included
      in
      the securities as to which such registration, qualification or compliance is
      being effected, indemnify the Company, each of its directors and officers,
      each
      underwriter, if any, of the Company's securities covered by such a registration
      statement, each person who controls the Company or such underwriter within
      the
      meaning of Section 15 of the 1933 Act
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      against
      all expenses, claims, losses, damages and liabilities (or actions in respect
      thereof), including any of the foregoing incurred in settlement of any
      litigation (commenced or threatened), arising out of or based on any untrue
      statement (or alleged untrue statement) of a material fact contained in any
      such
      registration statement, prospectus, offering circular or other document, or
      any
      amendment or supplement thereto, incident to such registration, qualification
      or
      compliance, or any omission (or alleged omission) to state therein a material
      fact required to be stated therein or necessary to make the statements therein,
      in the light of the circumstances under which they were made, not misleading,
      and
      will
      reimburse the Company, such directors, officers, persons, underwriters or
      control persons for any legal and any other expenses reasonably incurred, in
      connection with investigating or defending any such claim, loss, damage,
      liability or action, in each case to the extent, but only to the extent, that
      such untrue statement (or alleged untrue statement) or omission (or alleged
      omission) is made in such registration statement, prospectus, offering circular
      or other document in reliance upon and in conformity with written information
      furnished to the Company by the Stockholder expressly for use therein.
      Notwithstanding the foregoing, the liability of the Stockholder under this
      Section 8 shall be limited to an amount equal to the net proceeds received
      by
      the Stockholder from the sale of shares in such registration.

     

    (c) Each
      party entitled to indemnification under this Section 8 (the “Indemnified Party”)
      shall give notice to the party required to provide indemnification (the
“Indemnifying Party”) promptly after such Indemnified Party has actual knowledge
      of any claim as to which indemnity may be sought, and shall permit the
      Indemnifying Party to assume the defense of any such claim or any litigation
      resulting therefrom, provided that counsel for the Indemnifying Party, who
      shall
      conduct the defense of such claim or litigation, shall be approved by the
      Indemnified Party (whose approval shall not unreasonably be withheld), and
      the
      Indemnified Party may participate in such defense at such party's expense,
      and
      provided further that the failure of any Indemnified Party to give notice as
      provided herein shall not relieve the Indemnifying Party of its obligations
      under this Agreement, unless the failure to give such notice is materially
      prejudicial to an Indemnifying Party's ability to defend such action, and
      provided further that an Indemnified Party shall have the right to retain its
      own counsel, with the fees and expenses of such counsel to be paid by the
      Indemnifying Party, if representation of such Indemnified Party by the counsel
      retained by the Indemnifying Party would be inappropriate due to actual or
      potential differing interests between such Indemnified Party and any other
      party
      represented by such counsel in such proceeding. No Indemnifying Party, in the
      defense of any such claim or litigation, shall, except with the consent of
      each
      Indemnified Party, consent to entry of any judgment or enter into any settlement
      which does not include as an unconditional term thereof the giving by the
      claimant or plaintiff
      to such
      Indemnified Party of a release from all liability in respect to such claim
      or
      litigation.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    (d) If
      the
      indemnification provided for in this Section 8 is held by a court of competent
      jurisdiction to be unavailable to an Indemnified Party with respect to any
      losses, claims, damages or liabilities referred to herein, the Indemnifying
      Party, in lieu of indemnifying such Indemnified Party thereunder, shall to
      the
      extent permitted by applicable law contribute to the amount paid or payable
      by
      such Indemnified Party as a result of such loss, claim, damage or liability
      in
      such proportion as is appropriate to reflect the relative fault of the
      Indemnifying Party on the one hand and of the Indemnified Party on the other
      in
      connection with the violation(s) that resulted in such loss, claim, damage
      or
      liability, as well as any other relevant equitable considerations. The relative
      fault of the Indemnifying Party and of the Indemnified Party shall be determined
      by a court of law by reference to, among other things, whether the untrue or
      alleged untrue statement of a material fact or the omission to state a material
      fact relates to information supplied by the Indemnifying Party or by the
      Indemnified Party and the parties' relative intent, knowledge, access to
      information and opportunity to correct or prevent such statement or omission;
      provided, that in no event shall any contribution by the Stockholder hereunder
      exceed the net proceeds from the offering received by the
      Stockholder.

     

    (e) The
      obligations of the Company and the Stockholder under this Section 8 shall
      survive completion of any offering of Registrable Securities in a registration
      statement and the termination of this Agreement.

     

    Section
      9.  Expenses
      of Registration.
      The
      Company shall pay all registration, filing and qualification fees (including
      SEC
      filing fees and the listing fees of the NASDAQ Stock Market or any stock
      exchange on which the Company securities are traded) attributable to the
      Registrable Shares registered under this Agreement, and any legal, accounting
      or
      other professional fees or expenses incurred by the Company. The Stockholder
      shall pay all underwriting discounts, selling commissions and stock transfer
      taxes, if any, attributable to the sale of such securities registered by the
      Stockholder and any legal, accounting or other professional fees incurred by
      the
      Stockholder.

     

    Section
      10. Market
      Stand-Off.
      The
      Stockholder agrees that, upon the request of the underwriters managing any
      underwritten public offering of the Company's securities in connection with
      an
      effective registration statement under the 1933 Act, it will not offer, pledge,
      sell, contract to sell, sell any option or contract to purchase, purchase any
      option or contract to sell, grant any option, right or warrant to purchase,
      or
      otherwise transfer or dispose of, directly or indirectly, the Registrable Shares
      other than those included in the registration, without the prior written consent
      of such underwriters, for such period of time, not to exceed 180 days (or such
      lesser period as executive officers or directors of the Company are so
      restricted with respect to the transfer of shares of common stock of the Company
      held by them) after the effective date of the registration statement relating
      thereto, provided that such registration was filed as a result of the exercise
      by Stockholder of its rights pursuant to Section 2.The Stockholder agrees that,
      if requested by the underwriters for such an offering, it will enter into a
      lock-up agreement directly with the underwriters on substantially the same
      terms
      and conditions as described above. The Stockholder agrees that the Company
      may
      instruct its transfer agent to place stop-transfer notations in its records
      to
      enforce the provisions of this Section 10.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    Section
      11.  Right
      of First Refusal.If
      the
      Company shall propose to sell any Common Stock Equivalent while the Stockholder
      holds any Registrable Shares (other than a sale of securities to participants
      in
      a Company stock plan or employee benefit plan, a transaction covered by Rule
      145
      under the 1933 Act or the resale of securities issued in such a transaction,
      or
      a strategic transaction with an operating company the primary purpose of such
      transaction being other than financing), then the Company, prior to issuing
      any
      such Common Stock Equivalents, shall give written notice (the “Offer Notice”) to
      the Stockholder.The Offer Notice shall describe the terms and conditions upon
      which the Company proposes to sell such Common Stock Equivalents.The Offer
      Notice shall constitute an irrevocable offer by the Company to sell the
      Stockholder’ a participating share of such Common Stock Equivalents to the
      Stockholder on the same terms and conditions as set forth in the Offer Notice
      in
      an amount equal to the Stockholder’s overall ownership of the Company.By way of
      example, in the event the Stockholder owns 3% of the Company, the Stockholder
      shall be entitled to purchase 3% of the Common Stock Equivalents being sold.
      The
      Stockholder shall have ten (10) Business Days after its receipt of the Offer
      Notice to send to the Company a written notice (the “Acceptance Notice”)
      indicating that the Stockholder wishes to purchase such Common Stock Equivalents
      on such terms and conditions.If the Company does not receive the Acceptance
      Notice within such ten (10) Business Day period, then the Company shall have
      two
      (2) months thereafter to sell such Common Stock Equivalents to one or more
      third
      parties on terms and conditions no more favorable to such third parties than
      those specified in the Offer Notice.In the event the Company has not sold all
      such Common Stock Equivalents within such 2-month period, the Company shall
      not
      thereafter sell such Common Stock Equivalents without first again offering
      such
      Common Stock Equivalents to the Stockholder in the manner provided above in
      this
      Section 11.

    

    Section
      12. Assignment
      of Registration Rights and Right of First Refusal.The
      rights to cause the Company to register Registrable Shares pursuant to Section
      2
      and the right of first refusal pursuant to Section 11 may be assigned by
      Stockholder to a transferee or assignee of Registrable Shares who acquire the
      same in compliance with the Securities Purchase Agreement.

    

    Section
      13. Miscellaneous.

    

    (a) Remedies.In
      the event of a breach by the Company or Stockholder of any of their respective
      obligations under this Agreement, Stockholder or the Company, as the case may
      be, in addition to being entitled to exercise all rights granted by law and
      under this Agreement, including recovery of damages, shall be entitled to
      specific performance of its rights under this Agreement.The Company and
      Stockholder agree that monetary damages would not provide adequate compensation
      for any losses incurred by reason of a breach by it of any of the provisions
      of
      this Agreement and hereby further agrees that, in the event of any action for
      specific performance in respect of such breach, it shall not assert or shall
      waive the defense that a remedy at law would be adequate.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    (b) Compliance.
      Stockholder covenants and agrees that it will comply with the prospectus
      delivery requirements of the Securities Act as applicable to it in connection
      with sales of Registrable Securities pursuant to a Registration
      Statement.

    

    (c) Amendments
      and Waivers. The provisions of this Agreement, including the provisions of
      this
      sentence, may not be amended, modified or supplemented, and waivers or consents
      to departures from the provisions hereof may not be given, unless the same
      shall
      be in writing and signed by the Company and Stockholder.

    

    (d) Notices.
      Any and all notices or other communications or deliveries required or permitted
      to be provided hereunder shall be delivered as set forth in the Securities
      Purchase Agreement.

    

    (e) Successors
      and Assigns. This Agreement shall inure to the benefit of and be binding upon
      the successors and permitted assigns of each of the parties.

    

    (f) Execution
      and Counterparts. This Agreement may be executed in two or more counterparts,
      all of which when taken together shall be considered one and the same agreement
      and shall become effective when counterparts have been signed by each party
      and
      delivered to the other party, it being understood that both parties need not
      sign the same counterpart.In the event that any signature is delivered by
      facsimile transmission or by e-mail delivery of a “.pdf” format data file, such
      signature shall create a valid and binding obligation of the party executing
      (or
      on whose behalf such signature is executed) with the same force and effect
      as if
      such facsimile or “.pdf” signature page were an original thereof.

    

    (g) Governing
      Law.All questions concerning the construction, validity, enforcement and
      interpretation of this Agreement shall be determined in accordance with the
      provisions of the Securities Purchase Agreement.

    

    (h) Cumulative
      Remedies. The remedies provided herein are cumulative and not exclusive of
      any
      other remedies provided by law.

    

    (i) Severability.
      If any term, provision, covenant or restriction of this Agreement is held by
      a
      court of competent jurisdiction to be invalid, illegal, void or unenforceable,
      the remainder of the terms, provisions, covenants and restrictions set forth
      herein shall remain in full force and effect and shall in no way be affected,
      impaired or invalidated, and the parties hereto shall use their commercially
      reasonable efforts to find and employ an alternative means to achieve the same
      or substantially the same result as that contemplated by such term, provision,
      covenant or restriction. It is hereby stipulated and declared to be the
      intention of the parties that they would have executed the remaining terms,
      provisions, covenants and restrictions without including any of such that may
      be
      hereafter declared invalid, illegal, void or unenforceable.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    (j) Headings.
      The headings in this Agreement are for convenience only, do not constitute
      a
      part of the Agreement and shall not be deemed to limit or affect any of the
      provisions hereof.

    

    [Remainder
      of Page Intentionally Left Blank]

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

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

    

    
      	
              COMPANY:

            
	 
	
              NEURALSTEM,
                INC.

            
	 	 
	 
	
              By:

            	
              Richard
                Garr

            
	
              Its: 

            	
              Chief
                Executive Officer

            
	 	 
	 	 
	
              PURCHASER:

            
	 
	
              CJ
                CHEILJEDANG CORPORATION

            
	 	 
	 
	
              By:

            	
              Jin
                Soo Kim

            
	
              Its:

            	
              Chief
                Executive OfficerEXCLUSIVE
      OPTION AGREEMENT

    

    AMONG

    

    SHAANXI
      BIOSTAR BIOTECH LTD
      

    

    AND

    

    THE
      FOURTEEN PERSONS INCLUDING WANG RONGHUA

    

    SHAANXI
      AOXING PHARMACEUTICAL CO.,
      LTD.

     

    【】July,
      2007

    XIANYANG,
      CHINA

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    EXCLUSIVE
      OPTION AGREEMENT 

    

    This
      Exclusive Option Agreement (the “Agreement”) is entered into as of 【】July,
      2007 between the following parties in Xianyang.

     

    
      	
              Party
                A:

            	 	
              Shaanxi
                Biostar Biotech Ltd

            
	 	 	
              Registered
                Address: 3rd floor, backyard of Industrial and Business Bureau, Shiji
                Avenue, Xianyang.

              Legal
                Representative:
                Wang Hui

            

    

     

    
      	
              Party
                B:

            	 	
              1.
                Wang
                Ronghua, a citizen of PRC with ID Card number【●】

               

              2.
                Wang
                Yan, a citizen of PRC with ID Card number 【●】

               

              3.
                Wang
                Rongfa, a citizen of PRC with ID Card number 【●】

               

              4.
                Wang
                Rangmei, a citizen of PRC with ID Card number 【●】

               

              5.
                Cao
                Xuezhu, a citizen of PRC with ID Card number 【●】

               

              6.
                Wang
                Yuxing, a citizen of PRC with ID Card number 【●】,

               

              7.
                An
                Xiaoru, a citizen of PRC with ID Card number 【●】

               

              8.
                Ao
                Quanfang, a citizen of PRC with ID Card number 【●】

               

              9.
                Tang
                Wenying, a citizen of PRC with ID Card number 【●】

               

              10.
                Qin Hongxia, a citizen of PRC with ID Card number 【●】

               

              11.
                Wu Gang, a citizen of PRC with ID Card number 【●】

               

              12.
                Wu Weiping, a citizen of PRC with ID Card number 【●】

               

              13.
                Bai Rong, a citizen of PRC with ID Card number 【●】

               

              14.
                Wu Jin, a citizen of PRC with ID Card number 【●】

            

    

     

    
      
         

      

      
        1

        
          

        

      

      
         

      

    

     

    
      	
              Party
                C:

            	 	
              Shaanxi
                Aoxing Pharmaceutical Co., Ltd

            
	 	 	
              Registered
                Address: Chenyangzhai, Xianyang 

              Legal
                Representative: Wang
                Ronghua

            

    

    

    In
      this
      Agreement, Party A, Party B and Party C are called collectively as the “Parties”
and each of them is called as the “Party”. 

    

    WHEREAS:
      

    

    
      	
              1.

            	
              Party
                A is a wholly foreign-owned enterprise incorporated under the laws
                of the
                People’s Republic of China (the “PRC”);

            

    

    

    
      	
              2.

               

            	
              Party
                C is a limited liability company incorporated in Xianyang and with
                business license issued by the Xianyang Municipal Administration
                for
                Industry and Commerce; 

            

    

    

    
      	
              3.

            	
              As
                of the date of this Agreement Party B are shareholders of Shaanxi
                Aoxing
                Pharmaceutical Co., Ltd (hereinafter referred to as “Shaanxi Aoxing”) and
                collectively legally hold all of the equity interest of Shaanxi Aoxing.
                Under this Agreement, Party B, The Fourteen Persons including Wang
                Ronghua
                have acted collectively as one party to this
                Agreement;

            

    

     

    NOW,
      THEREFORE,
      the
      Parties through mutual negotiations hereby enter into this Agreement according
      to the following terms and conditions:

     

    
      	
              1.

            	
              THE
                GRANT AND EXERCISE OF PURCHASE
                OPTION

            

    

     

      Grant:
      Party B hereby grant Party A an irrevocable exclusive purchase option. Party
      A
      has right to purchase all or part of the shares of Party C currently owned
      by
      any of Party B, or to purchase all or part of the assets of Party C, in each
      case in accordance with Article 1.3 of this contract. This purchase option
      is
      irrevocable and shall be exercised only by Party A (or the qualified persons
      appointed by Party A). The term “person” used herein shall include any entity,
      corporation, partnership, joint venture and non-corporate organizations.

     

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

     

      Exercise
      Procedures:

    

      Party
      A
      shall notify Parties B in writing prior to exercising its option (the “Option
      Notice” hereinafter).

    

      The
      next
      day upon receipt of the Option Notice, Parties B and C, together with party
      A
      (or the qualified person appointed by Party A), shall promptly compile a whole
      set of documents (the “Transfer Documents”) to be submitted to the government
      bodies for approving the shares or assets transfer in connection with the Option
      exercise so that the shares or assets transfer can be transferred, in whole
      or
      in part.

    

      Upon
      the
      completion of the compilation of all the Transfer Documents and the Transfer
      Documents being confirmed by Party A, Parties B and C shall promptly and
      unconditionally obtain, together with Party A (or the qualified person appointed
      by Party A), all approvals, permissions, registrations, documents and other
      necessary approvals to effectuate the transfer of the shares and remaining
      assets of Party C in connection with the Option exercise. 

     

    Exercise
      Condition: Party A may immediately exercise the option of acquiring the equity
      interests in or remaining assets of Party C whenever Party A considers it
      necessary to acquire Party C and it is doable in accordance with PRC laws and
      regulations. 

     

    
      	2.	
              Price
                of Acquisition

            

    

     

    Party
      A
      and Party B shall enter into relevant agreements regarding the price of
      acquisition based on the circumstances of the exercise of option. Party A has
      the discretion to decide the time and arrangement of the acquisition, provided
      that the acquisition will not violate any PRC laws or regulations then in
      effect.

    

    
      	
              3.
                

            	
              REPRESENTATIONS
                AND WARRANTIES

            

    

    

    
      	 	
              3.1

            	
              Each
                party hereto represents to the other parties that: (1) it has all
                the
                necessary rights, powers and authorizations to enter into this Agreement
                and perform its duties and obligations hereunder; and (2) the execution
                or
                performance of this Agreement shall not violate any significant contract
                or agreement to which it is a party or by which it or its assets
                are
                bounded.

            

    

     

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

     

    
      	 	
              3.2

            	
              Party
                B hereto represents to Party A that: (1) they are legally registered
                shareholders of Party C and have paid Party C the full amount of
                their
                respective portions of Party C's registered capital required under
                the PRC
                laws; (2) except Share Pledge Agreement, Party B has not mortgaged
                or
                pledged his shares of Party C, nor has either of them granted any
                security
                interest or borrow against his shares of Party C in any form; and
                (3)
                Party B has not sold or will not sell to any third party its equity
                interests in Party C.

            

    

    

    
      	 	
              3.3

            	
              Party
                C hereto represents to Party A that: (1) it is a limited liability
                company
                duly registered and validly existing under the PRC law; and (2) its
                business operations are in compliance with applicable laws of the
                PRC in
                all material aspects.

            

    

    

    
      	
              4.

            	
              COVENANTS

            
	 	 
	 	The
              Parties further agree as follows:

    

     

    
      	 	
              4.1

            	
              Before
                Party A has acquired all the equity/assets of Party C by exercising
                the
                purchase option provided hereunder, Party C shall
                not:

            

    

    

    
      	 	
              4.1.1

            	
              sell,
                assign, mortgage or otherwise dispose of, or create any encumbrance
                on,
                any of its assets, operations or any legal or beneficiary interests
                with
                respect to its revenues (unless such sale, assignment, mortgage,
                disposal
                or encumbrance is relating to its daily operation or has been disclosed
                to
                and agreed upon by Party A in
                writing);

            

    

    

    
      	 	
              4.1.2

            	
              enter
                into any transaction which may materially affect its assets, liability,
                operation, shareholders’ equity or other legal rights (unless such
                transaction is relating to its daily operation or has been disclosed
                to
                and agreed upon by Party A in writing);
                and

            

    

    

    
      	 	
              4.1.3

            	
              distribute
                any dividend to its shareholders in any
                manner.

            

    

    

    
      	 	
              4.2

            	
              Before
                Party A has acquired all the equity/assets of Party C by exercising
                the
                purchase option provided hereunder, Party B and/or Party C shall
                not
                individually or collectively:

            

    

    

    
      	 	
              4.2.1

            	
              supplement,
                alter or amend the articles of association of Party C in any manner
                to the
                extent that such supplement, alteration or amendment may have a material
                effect on Party C's assets, liability, operation, shareholders’ equity or
                other legal rights;

            

    

     

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

     

    
      
        	 	
                4.2.2

              	
                cause
                  Party C to enter into any transaction to the extent such transaction
                  may
                  have a material effect on Party C's assets, liability, operation,
                  shareholders’ equity or other legal rights (unless such transaction is
                  relating to Party C's daily operation or has been disclosed to
                  and agreed
                  upon by Party A in writing);
                  and

              

      

    

     

    
      	 	
              4.3

            	
              Party
                B shall entrust Party A to manage Party C in accordance with Entrusted
                Management Agreement. 

            

    

    

    

    
      	
              5.

            	
              ASSIGNMENT
                OF AGREEMENT

            

    

    

    
      	 	
              5.1

            	
              Party
                B and Party C shall not transfer their rights and obligations under
                this
                Agreement to any third party without the prior written consent of
                Party A.
                

            

    

    

    
      	 	
              5.2

            	
              Each
                of Party B and Party C hereby agrees that Party A shall have the
                right to
                transfer all of its rights and obligation under this Agreement to
                any
                third party whenever it desires. Any such transfer shall only be
                subject
                to a written notice sent to Party B and Party C by Party A, and no
                any
                further consent from Party B and Party C will be required.
                

            

    

    

    
      	
              6.

            	
              CONFIDENTIALITY

            
	 	 
	 	The
              Parties acknowledge and confirm that any oral or written materials
              exchanged by the Parties in connection with this Agreement are
              confidential. The Parties shall maintain the secrecy and confidentiality
              of all such materials. Without the written approval by the other Parties,
              any Party shall not disclose to any third party any relevant materials,
              but the following circumstances shall be excluded:

    

     

    
      	 	
              a.

            	
              The
                materials is known or will be known by the public (except for any
                materials disclosed to the public by the Party who receives such
                materials); 

            

    

    

    
      	 	
              b.

            	
              The
                materials are required to be disclosed under the applicable laws
                or the
                rules or provisions of stock exchange; or

            

    

    

    
      	 	
              c.

            	
              The
                materials disclosed by each Party to its legal or financial consultant
                relate to the transaction contemplated under this Agreement, and
                such
                legal or financial consultant shall comply with the confidentiality
                set
                forth in this Section. The disclosure of the confidential materials
                by an
                employee of any Party shall be deemed disclosure of such materials
                by such
                Party, and such Party shall be liable for breaching the contract.
                This
                Article 6 shall survive this Agreement even if this Agreement is
                invalid,
                amended, revoked, terminated or unenforceable by any reason.
                

            

    

     

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

     

    
      	
              7.

            	
              BREACH
                OF CONTRACT

            

    

    

    
      	 	
              Any
                violation of any provision hereof, any incomplete or mistaken performance
                of any obligation provided hereunder, any misrepresentation made
                hereunder, any material nondisclosure or omission of any material
                fact, or
                any failure to perform any covenants provided hereunder by any Party
                shall
                constitute a breach of this Agreement. The breaching Party shall
                be liable
                for any such breach pursuant to the applicable
                laws.

            

    

    

    
      	
              8.

            	
              APPLICABLE
                LAW AND DISPUTE RESOLUTION

            

    

    

    
      	 	
              8.1

            	
              Applicable
                Law 

            
	 	 	 
	 	 	The
              execution, validity, interpretation and performance of this Agreement
              and
              the disputes resolution under this Agreement shall be governed by the
              laws
              of PRC. 

    

     

    
      	 	
              8.2

            	
              Dispute
                Resolution 

            
	 	 	 
	 	 	The
              parties shall strive to settle any dispute arising from the interpretation
              or performance of this Agreement through friendly consultation. In
              case no
              settlement can be reached through consultation within thirty (30) days
              after such dispute is raised, each Party shall have the right to submit
              such matter to China International Economic and Trade Arbitration
              Commission (the “CIETAC”) in Beijing in accordance with its rules. The
              arbitration shall take place in Beijing. The arbitration award shall
              be
              final, conclusive and binding upon both parties.

    

     

    
      	
              9.

            	
              EFFECTIVENESS
                AND TERMINATION

            

    

    

    
      	 	
              9.1

            	
              This
                Agreement shall be effective upon the execution hereof by all Parties
                hereto and shall remain effective
                thereafter.

            

    

    

    
      	 	
              9.2

            	
              This
                Agreement may not be terminated without the unanimous consent of
                all the
                Parties except that Party A may, by giving a thirty (30) days prior
                notice
                to the other Parties hereto, terminate this
                Agreement.

            

    

     

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

     

    
      	
              10.

            	
              MISCELLANEOUS

            

    

    

    
      	 	
              10.1

            	
              Amendment,
                Modification and Supplement 

            
	 	 	 
	 	 	Any
              amendment and supplement to this Agreement shall be made by the Parties
              in
              writing. The amendment and supplement duly executed by each Party shall
              be
              deemed an integral part of this Agreement and shall have the same legal
              effect as this Agreement. 

    

     

    
      	 	
              10.2

            	
              Entire
                Agreement 

            
	 	 	 
	 	 	The
              Parties acknowledge that this Agreement constitutes the entire agreement
              of the Parties with respect to the subject matters therein and supersedes
              and replaces all prior or contemporaneous agreements and understandings
              in
              oral or written form. 

    

     

    
      	 	
              10.3

            	
              Severability
                

            
	 	 	 
	 	 	If
              any provision of this Agreement is adjudicated to be invalid or
              non-enforceable according to relevant PRC laws of the PRC, such a
              provision shall be deemed invalid only to the extent the PRC laws are
              applicable in China, and the validity, legality and enforceability
              of the
              other provisions hereof shall not be affected or impaired in any way.
              The
              Parties shall, through consultation based on the principal of fairness,
              replace such invalid, illegal or non-enforceable provision with valid
              provision so that any substituted provision may bring the similar economic
              effects as those intended by the invalid, illegal or non-enforceable
              provision.

    

     

    
      	 	
              10.4

            	
              Headings
                

            
	 	 	 
	 	 	The
              headings contained in this Agreement are for the convenience of reference
              only and shall not in any other way affect the interpretation, explanation
              or the meaning of the provisions of this Agreement.

    

     

    
      	 	
              10.5

            	
              Language
                and Copies 

            
	 	 	 
	 	 	This
              Agreement is written in Chinese and English. In case of any discrepancy
              between Chinese version and English version, Chinese version shall
              prevail. This Agreement is executed in three (3) copies for each version;
              each Party holds one and each original copy has the same legal effect.
              

    

     

    
      	 	
              10.6

            	
              Successor
                

            
	 	 	 
	 	 	This
              Agreement shall bind and benefit the successor or the transferee of
              each
              Party. 

    

    

    (REMAINDER
      OF PAGE INTENTIONALLY LEFT BLANK) 

    

      
        
           

        

        
          7

          
            

          

        

        
           

        

      

IN
      WITNESS THEREFORE,
      the
      parties hereof have caused this Agreement to be executed by their duly
      authorized representatives as of the date first written above. 

    

    PARTY
      A: Shaanxi Biostar Biotech Ltd

    (Seal)

    

    Legal
      Representative/Authorized Representative(Signature):   

    

    PARTY
      B: 

     

    Wang
      Ronghua(signature):

    

    Wang
      Yan(signature):

    

    Wang
      Rongfa(signature):

    

    Wang
      Rangmei(signature):

    

    Cao
      Xuezhu(signature):

    

    Wang
      Yuxing(signature):

    

    An
      Xiaoru(signature):

    

    Ao
      Quanfang(signature):

    

    Tang
      Wenying(signature):

    

    Qin
      Hongxia(signature):

    

    Wu
      Gang(signature):

    

    Wu
      Weiping(signature):

    

    Bai
      Rong(signature):

    

    Wu
      Jin(signature):

     

    PARTY
      C: Shaanxi Aoxing Pharmaceutical Co., Ltd

     

    (seal)

     

    Legal
      Representative/Authorized Representative(Signature):   

     

    
      
         

      

      
        8

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