Document:

SUBSCRIPTION
AGREEMENT

     

    THIS SUBSCRIPTION AGREEMENT
(this “Agreement”), is
dated as of March 5, 2010, by and between China Infrastructure Construction
Corporation, a Colorado corporation (the “Company”), and the subscribers
identified on the signature pages hereto (each a “Subscriber” and collectively,
the “Subscribers”).

    

    RECITALS:

    

    WHEREAS, the Company and each
Subscriber are executing and delivering this Agreement in reliance upon an
exemption from securities registration afforded by the provisions of Section
4(2), Section 4(6), Regulation D (“Regulation D”) and/or
Regulation S (“Regulation
S”) as promulgated by the United States Securities and Exchange
Commission (the “Commission”) under the
Securities Act of 1933, as amended (the “1933 Act”).

    

    WHEREAS, Hunter Wise
Securities, LLC is acting as exclusive placement agent (“Placement Agent”), on a “best
efforts” basis, in a private offering (the “Offering”) in which the
Company desires to offer and sell an aggregate of up to approximately 1,282,051
shares (the “Maximum Offering”)
of its common stock (“Common Stock”), no par value
per share (the “Purchased
Shares”), at a price of $3.90 per share (the “Share Purchase Price”) for
aggregate gross proceeds of up to approximately $5,000,000 (the “Purchase Price”).

     

    WHEREAS, the Company desires
to enter into this Agreement to issue and sell the Purchased Shares and the
Subscriber desires to purchase that number of Purchased Shares set forth on the
signature page hereto on the terms and conditions set forth herein.

     

    WHEREAS, the aggregate
proceeds of the Offering shall be held in escrow pursuant to the terms of a
Funds Escrow Agreement to be executed by the parties substantially in the form
attached hereto as Exhibit A (the “Escrow
Agreement”).

     

    AGREEMENT:

     

    NOW, THEREFORE, in
consideration of the mutual covenants and other agreements contained in this
Agreement, the Company and the Subscriber hereby agree as follows:

     

    1.           Purchase and Sale of
Purchased Shares. Subject to the satisfaction or waiver of the terms and
conditions of this Agreement, on the Closing Date (as defined below), the
Subscriber shall purchase and the Company shall sell to
the  Subscriber the number of Purchased Shares for the Subscriber’s
portion of the Purchase Price designated on the Subscriber’s signature page
hereto.

    
      
         

      

      
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    2.           Closing.

     

    (a)           Closing Date. The
“Closing Date” shall be
the date that Subscriber funds representing the Purchase Price of the Offering
is transmitted by wire transfer or otherwise to or for the benefit of the
Company. The consummation of the transactions contemplated herein (the “Closing”) shall take place at
the offices of the Company’s legal counsel, Guzov Ofsink, LLC, 600 Madison
Avenue, 14th Floor,
New York, New York 10022, upon the satisfaction of all conditions to Closing set
forth in this Agreement.

    

    (b)           Conditions Precedent to the
Closing.  The Closing is expressly contingent on (i) payment by
the Subscriber and other subscribers (the “Other Subscribers”) of the
Purchase Price, which payments shall be made to the escrow account maintained by
Guzov Ofsink, LLC (the “Escrow
Agent”) to be held in escrow pending the Closing, (ii) delivery by the
Subscriber to the Escrow Agent of fully executed copies of the Transaction
Documents (as defined in Section 4(c) below), (iii) delivery by the Company to
the Escrow Agent of fully executed copies of the Transaction Documents (as
defined in Section 4(c) below), (iv) the truth and accuracy, on the Closing Date
of the representations and warranties of the Company and the Subscriber
contained in this Agreement and the Other Subscribers contained in the
subscription agreements executed by the Other Subscribers (the “Other Subscription
Agreements”), (v) the delivery by the Company to the Subscriber on the
Closing Date of a certificate signed by the Company’s chief executive officer
(1) representing the truth and accuracy of all the representations and
warranties made by the Company contained in this Agreement and the Other
Subscription Agreements, as of the Closing Date, as if such representations and
warranties were made and given on such date, except for changes that will not
have alone, or in any combination in the aggregate, a Material Adverse Effect
(as defined in Section 4(a) of this Agreement), and (2) certifying that on or
before the Closing Date the Company shall have performed all covenants and
agreements of the Company contained herein or in any of the other Transaction
Documents required to be performed by the Company on or before the Closing Date;
and (vi) a legal opinion of the Company’s legal counsel materially the same as
the legal opinion referred to in Section 5 of this Agreement shall be delivered
to the Subscriber on the Closing Date in relation to the Company and the
Purchased Shares (“Closing
Legal Opinion”).

    

    3.           Subscriber Representations
and Warranties.  The Subscriber hereby represents and warrants
to and agrees with the Company that:

    

    (a)           Organization and Standing of
the Subscriber.   If the Subscriber is an entity, such
Subscriber is a corporation, partnership or other entity duly incorporated or
organized, validly existing and in good standing under the laws of the
jurisdiction of its incorporation or organization.

    

    (b)           Authorization and
Power.   The Subscriber has the requisite power and
authority to enter into and perform this Agreement and the other Transaction
Documents and to purchase the Purchased Shares being sold to the Subscriber
hereunder.  The execution, delivery and performance of this Agreement
and the other Transaction Documents by the Subscriber and the consummation by
the Subscriber 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 the Subscriber or its Board of Directors,
stockholders, partners, members, as the case may be, is
required.  This Agreement and the other Transaction Documents have
been duly authorized, executed and delivered by the Subscriber and constitutes,
or shall constitute when executed and delivered, a valid and binding obligation
of the Subscriber enforceable against the Subscriber in accordance with the
terms thereof.

    
      
         

      

      
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    (c)           No
Conflicts.   The execution, delivery and performance of
this Agreement and the other Transaction Documents and the consummation by the
Subscriber of the transactions contemplated hereby and thereby or relating
hereto do not and will not (i) if the Subscriber is an entity, result in a
violation of the Subscriber’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
the Subscriber 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 Subscriber or the
Subscriber’s properties (except for such conflicts, defaults and violations as
would not, individually or in the aggregate, have a material adverse effect on
the Subscriber).  The Subscriber 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 the Subscriber to execute, deliver or
perform any of its obligations under this Agreement and the other Transaction
Documents or to purchase the number of Purchased Shares the Subscriber desires
to purchase in accordance with the terms hereof, provided that for purposes of
the representation made in this sentence, the Subscriber is assuming and relying
upon the accuracy of the relevant representations and agreements of the Company
herein.

    

    (d)           Information on
Company.    The Subscriber has been furnished with
all filings made by the Company with the Commission (hereinafter referred to
collectively as the “Reports”) or the Subscriber
acknowledges that it has had access to the Commission’s EDGAR website where the
Subscriber read all such filings.   In addition, such Subscriber
has received in writing from the Company such other information concerning its
operations, financial condition and other matters as such Subscriber has
requested in writing (such other information is collectively, the “Other Written Information”),
and considered all factors such Subscriber deems material in deciding on the
advisability of investing in the Purchased Shares.  Such Subscriber
has relied on the Reports and Other Information in making its investment
decision.

    

    (e)           Opportunities for Additional
Information.  The Subscriber acknowledges that the Subscriber
has had the opportunity to ask questions of and receive answers from, or obtain
additional information from, the executive officers of the Company concerning
the financial and other affairs of the Company.

    

    (f)           Information on
Subscriber.   The Subscriber is, and will be on the
Closing Date, an “accredited
investor”, as such term is defined in Regulation D promulgated by the
Commission under the 1933 Act, is experienced in investments and business
matters, has made investments of a speculative nature and has purchased
securities of United States publicly-owned companies in private placements in
the past and, with its representatives, has such knowledge and experience in
financial, tax and other business matters as to enable the Subscriber to utilize
the information made available by the Company to evaluate the merits and risks
of and to make an informed investment decision with respect to the proposed
purchase, which represents a speculative investment.  The Subscriber
has the authority and is duly and legally qualified to purchase and own the
Purchased Shares.  The Subscriber is able to bear the risk of such
investment for an indefinite period and to afford a complete loss
thereof.  The information set forth on the signature page hereto
regarding the Subscriber is accurate.

    
      
         

      

      
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    (g)           Compliance with 1933
Act.   The Subscriber understands and agrees that the
Purchased Shares have not been registered under the 1933 Act or any applicable
state securities laws, by reason of their issuance in a transaction that does
not require registration under the 1933 Act (based in part on the accuracy of
the representations and warranties of the Subscriber contained herein), and that
such Purchased Shares must be held indefinitely unless a subsequent disposition
is registered under the 1933 Act or any applicable state securities laws or is
exempt from such registration.  In any event, and subject to
compliance with applicable securities laws, the Subscriber may enter into lawful
hedging transactions in the course of hedging the position the Subscriber
assumes and the Subscriber may also enter into lawful short positions or other
derivative transactions relating to the Purchased Shares purchased by the
Subscriber, and deliver the Purchased Shares purchased by the Subscriber, to
close out the Subscriber’s short or other positions or otherwise settle other
transactions, or loan or pledge the Purchased Shares purchased by the
Subscriber, to third parties who in turn may dispose of these Purchased
Shares.

    

    (h)           Purchased Shares
Legend.  The Purchased Shares purchased by the Subscriber shall
bear the following or similar legend:

    

    “THE ISSUANCE AND SALE OF THE PURCHASED SHARES REPRESENTED BY THIS CERTIFICATE HAS
NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, NOR APPLICABLE
STATE SECURITIES LAWS.  THE PURCHASED SHARES MAY NOT BE OFFERED FOR SALE, SOLD,
TRANSFERRED OR ASSIGNED
(I) IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR THE
PURCHASED
SHARES UNDER THE
SECURITIES ACT OF 1933, AS AMENDED, OR (B) AN OPINION OF COUNSEL (WHICH COUNSEL
SHALL BE SELECTED BY THE HOLDER), IN A GENERALLY ACCEPTABLE FORM, THAT
REGISTRATION IS NOT
REQUIRED UNDER SAID ACT OR (II) UNLESS SOLD PURSUANT TO RULE 144 OR RULE 144A
UNDER SAID ACT.  NOTWITHSTANDING THE FOREGOING, THE PURCHASED SHARES MAY BE PLEDGED IN CONNECTION WITH A
BONA FIDE MARGIN ACCOUNT OR OTHER LOAN OR FINANCING ARRANGEMENT SECURED BY THE PURCHASED SHARES.”

     

     (i)          
Communication of
Offer.  The offer to sell the Purchased Shares was directly
communicated to the Subscriber by the Company.  At no time was the
Subscriber presented with or solicited by any leaflet, newspaper or magazine
article, radio or television advertisement, or any other form of general
advertising or solicited or invited to attend a promotional meeting otherwise
than in connection and concurrently with such communicated
offer.

    
      
         

      

      
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    (j)           Restricted
Securities.   The Subscriber understands that the
Purchased Shares have not been registered under the 1933 Act and the Subscriber
will not sell, offer to sell, assign, pledge, hypothecate or otherwise transfer
any of the Purchased Shares purchased by the Subscriber unless pursuant to an
effective registration statement under the 1933 Act, or unless an exemption from
registration is available.  Notwithstanding anything to the contrary
contained in this Agreement, the Subscriber may transfer (without restriction
and without the need for an opinion of counsel) the Purchased Shares purchased
by the Subscriber to the Subscriber’s Affiliates (as defined below) provided
that each such Affiliate is an “accredited investor” under Regulation D and such
Affiliate agrees to be bound by the terms and conditions of this Agreement. For
the purposes of this Agreement, an “Affiliate” of any person or
entity means any other person or entity directly or indirectly controlling,
controlled by or under direct or indirect common control with such person or
entity.  Affiliate includes each Subsidiary of the
Company.  For purposes of this definition, “control” means the power to
direct the management and policies of such person or firm, directly or
indirectly, whether through the ownership of voting securities, by contract or
otherwise.

    

    (k)           No Governmental
Review.   The Subscriber understands that no United States
federal or state agency or any other governmental or state agency has passed on
or made recommendations or endorsement of the Purchased Shares or the
suitability of the investment in the Purchased Shares nor have such authorities
passed upon or endorsed the merits of the offering of the Purchased
Shares.

    

    (l)           Correctness of
Representations.  The Subscriber represents that the foregoing
representations and warranties are true and correct as of the date hereof and,
unless the Subscriber otherwise notifies the Company prior to the Closing Date
shall be true and correct as of the Closing Date. The Subscriber
understands that the Purchased Shares are 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
the Subscriber set forth herein in order to determine the applicability of such
exemptions and the suitability of the Subscriber to acquire the Purchased
Shares.

    

    (m)         Additional
Representations
and Warranties of Non-United States Persons. If the
Subscriber is a non-United States Person, the Subscriber makes the following
representations:

    

    (i)           The
Subscriber understands that the investment offered hereunder has not been
registered under the 1933 Act and the Subscriber understands that the Subscriber
is purchasing the Purchased Shares being purchased by the Subscriber without
being furnished any offering literature or prospectus. The Subscriber is
acquiring the Purchased Shares being purchased by the Subscriber for the
Subscriber’s own account, for investment purposes only, and not with a view
towards resale or distribution.

    
      
         

      

      
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    (ii)           At
the time the Subscriber was offered the Purchased Shares, the Subscriber was
not, and at the date hereof, such Subscriber is not a “U.S. Person”
which is defined immediately below:

    

    (A)         
Any natural person resident in the United States;

    (B)          Any
partnership or corporation organized or incorporated under the laws of the
United States;

    (C)          Any
estate of which any executor or administrator is a U.S. person;

    (D)          Any
trust of which any trustee is a U.S. person;

    (E)           Any
agency or branch of a foreign entity located in the United States;

    (F)           Any
non-discretionary account or similar account (other than an estate or trust)
held by a dealer or other fiduciary for the benefit or account of a U.S.
person;

    (G)           Any
discretionary account or similar account (other than an estate or trust) held by
a dealer or other fiduciary organized, incorporated, or (if an individual)
resident of the United States; and

    (H)          Any
partnership or corporation if (i) organized or incorporated under the laws of
any foreign jurisdiction and (ii) formed by a U.S. person principally for the
purpose of investing in securities not registered under the 1933 Act, unless it
is organized or incorporated, and owned, by accredited investors (as defined in
Rule 501(a) of Regulation D promulgated under the 1933 Act) who are not natural
persons, estates or trusts.

    

    “United States” or “U.S.” means the United
States of America, its territories and possessions, any State of the United
States, and the District of Columbia.

    

    (iii)           The
Subscriber understands that no action has been or will be taken in any
jurisdiction by the Company that would permit a public offering of the Purchased
Shares in any country or jurisdiction where action for that purpose is
required.  The Subscriber is not acquiring the Purchased Shares being
purchased by the Subscriber, for the account or benefit of any U.S. person
except in accordance with one or more available exemptions from the registration
requirements of the 1933 Act or in a transaction not subject
thereto.

    

    (iv)   The
Subscriber (i) as of the execution date of this Agreement is not located within
the United States, and (ii) is not purchasing the Securities for the benefit of
any U.S. person.

    

    (v)           The
Subscriber will not resell the Purchased Shares, except in accordance with the
provisions of Regulation S (Rule 901 through 905 and Preliminary Notes thereto),
pursuant to an effective registration statement under the 1933 Act, or pursuant
to an available exemption from the registration requirements of the 1933 Act;
and agrees not to engage in hedging transactions with regard to such securities
unless in compliance with the 1933 Act.

    

    
      
         

      

      
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    (vi)          The
Subscriber will not engage in hedging transactions with regard to any securities
of the Company prior to the expiration of the distribution compliance period
specified in Category 2 or 3 (paragraph (b)(2) or (b)(3)) in Rule 903 of
Regulation S, as applicable, unless in compliance with the 1933 Act; and as
applicable, shall include statements to the effect that the securities have not
been registered under the 1933 Act and may not be offered or sold in the United
States or to U.S. persons (other than distributors) unless the securities are
registered under the 1933 Act, or an exemption from the registration
requirements of the 1933 Act is available.

    

    (vii)         No
form of “directed selling efforts” (as defined in Rule 902 of Regulation S under
the 1933 Act), general solicitation or general advertising in violation of the
1933 Act has been or will be used nor will any offers by means of any directed
selling efforts in the United States be made by the Subscriber or any of the
Subscriber’s representatives in connection with the offer and sale of the
Purchased Shares being purchased by the Subscriber.

     

    4.           Company Representations and
Warranties.  The Company represents and warrants to and agrees
with the Subscriber that:

     

    (a)           Due
Incorporation.  The Company is a corporation or other entity
duly incorporated or organized, validly existing and in good standing under the
laws of Colorado and has the requisite corporate power to own its properties and
to carry on its business as presently conducted.  The Company is duly
qualified as a foreign corporation to do business and is in good standing in
each jurisdiction where the nature of the business conducted or property owned
by it makes such qualification necessary, other than those jurisdictions in
which the failure to so qualify would not have a Material Adverse
Effect.  For purposes of this Agreement, a “Material Adverse
Effect” means any material adverse effect on the business,
operations, properties, or financial condition of the Company and its
Subsidiaries individually, or in the aggregate and/or any condition,
circumstance, or situation that would prohibit or otherwise materially interfere
with the ability of the Company to perform any of its obligations under this
Agreement in any material respect. For purposes of this Agreement, “Subsidiary” means, with
respect to any entity at any date, any corporation, limited or general
partnership, limited liability company, trust, estate, association, joint
venture or other business entity of which more than 30% of (i) the
outstanding capital stock having (in the absence of contingencies) ordinary
voting power to elect a majority of the board of directors or other managing
body of such entity, (ii) in the case of a partnership or limited liability
company, the interest in the capital or profits of such partnership or
limited liability company or (iii) in the case of a trust, estate,
association, joint venture or other entity, the beneficial interest in such
trust, estate, association or other entity business is, at the time of
determination, owned or controlled directly or indirectly through one or more
intermediaries, by such entity.  As of the Closing Date, all of the
Company’s Subsidiaries and the Company’s ownership interest therein are set
forth on Schedule 4(a).

     

    (b)           Outstanding
Stock.  All issued and outstanding shares of capital stock and
other equity interests in the Company, if any, have been duly authorized and
validly issued and are fully paid and non-assessable.

    
      
         

      

      
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    (c)           Authority;
Enforceability.  This Agreement, the Purchased Shares, the
Escrow Agreement, and any other agreements delivered together with this
Agreement or in connection herewith (collectively, the “Transaction Documents”) have
been duly authorized, executed and delivered by the Company and are valid and
binding agreements of the Company enforceable in accordance with their terms,
subject to bankruptcy, insolvency, fraudulent transfer, reorganization,
moratorium and similar laws of general applicability relating to or affecting
creditors’ rights generally and to general principles of equity.  The
Company has full corporate power and authority necessary to enter into and
deliver the Transaction Documents and to perform its obligations
thereunder.

     

    (d)           Capitalization and
Additional
Issuances.   The authorized and outstanding capital stock
of the Company and Subsidiaries on a fully diluted basis as of the date of this
Agreement and the Closing Date (not including the Purchased Shares) are set
forth on Schedule 4(d).  Except as set
forth on Schedule 4(d), there are no options,
warrants, or rights to subscribe to, securities, rights, understandings or
obligations convertible into or exchangeable for or giving any right to
subscribe for any shares of capital stock or other equity interest of the
Company or any of the Subsidiaries.  The only officer, director,
employee and consultant stock option or stock incentive plan or similar plan
currently in effect or contemplated by the Company is described on Schedule
4(d).  There are no outstanding agreements or preemptive or
similar rights affecting the Company’s common stock.

     

    (e)           Consents.  No
consent, approval, authorization or order of any court, governmental agency or
body or arbitrator having jurisdiction over the Company, or any of its
Affiliates, the Over The Counter Bulletin Board (the “Bulletin Board”) or the
Company’s shareholders is required for the execution by the Company of the
Transaction Documents and compliance and performance by the Company of its
obligations under the Transaction Documents, including, without limitation, the
issuance and sale of the Purchased Shares.  The Transaction Documents
and the Company’s performance of its obligations thereunder have been
unanimously approved by the Company’s Board of Directors.  No consent,
approval, order or authorization of, or registration, qualification,
designation, declaration or filing with, any governmental authority in the
world, including without limitation, the United States, or elsewhere is required
by the Company or any Affiliate of the Company in connection with the
consummation of the transactions contemplated by this Agreement, except as would
not otherwise have a Material Adverse Effect or the consummation of any of the
other agreements, covenants or commitments of the Company or any Subsidiary
contemplated by the other Transaction Documents. Any such qualifications and
filings will, in the case of qualifications, be effective on the Closing and
will, in the case of filings, be made within the time prescribed by
law.

     

    (f)           No Violation or
Conflict.  Assuming the representations and warranties of the
Subscriber in Section 3 are true and correct, neither the issuance nor sale of
the Purchased Shares being purchased by the Subscriber or Other Subscribers
nor the performance of the Company’s obligations under this Agreement, the Other
Subscription Agreements and all other Transaction Documents entered into by the
Company relating thereto will:

    
      
         

      

      
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    (i)           violate,
conflict with, result in a breach of, or constitute a default (or an event which
with the giving of notice or the lapse of time or both would be reasonably
likely to constitute a default) under (A) the articles or certificate of
incorporation, charter or bylaws of the Company, (B) to the Company’s knowledge,
any decree, judgment, order, law, treaty, rule, regulation or determination
applicable to the Company of any court, governmental agency or body, or
arbitrator having jurisdiction over the Company or over the properties or assets
of the Company or any of its Affiliates, (C) the terms of any bond, debenture,
note or any other evidence of indebtedness, or any agreement, stock option or
other similar plan, indenture, lease, mortgage, deed of trust or other
instrument to which the Company or any of its Affiliates is a party, by which
the Company or any of its Affiliates is bound, or to which any of the properties
of the Company or any of its Affiliates is subject, or (D) the terms of any
“lock-up” or similar provision of any underwriting or similar agreement to which
the Company, or any of its Affiliates is a party except the violation, conflict,
breach, or default of which would not have a Material Adverse Effect;
or

     

    (ii)           result
in the creation or imposition of any lien, charge or encumbrance upon the
Purchased Shares or any of the assets of the Company or any of its Affiliates;
or

     

    (iii)          result
in the activation of any anti-dilution rights or a reset or repricing of any
debt, equity or security instrument of any creditor or equity holder of the
Company, or the holder of the right to receive any debt, equity or security
instrument of the Company nor result in the acceleration of the due date of
any obligation of the Company; or

     

    (iv)          result
in the triggering of any piggy-back or other registration rights of any person
or entity holding securities of the Company or having the right to receive
securities of the Company.

     

    (g)           The Purchased
Shares.  The Purchased Shares upon issuance:

     

    (i)           are,
or will be, free and clear of any security interests, liens, claims or other
encumbrances, subject only to restrictions upon transfer under the 1933 Act and
any applicable state securities laws;

    

    (ii)           have
been, or will be, duly and validly authorized and on the date of issuance of the
Purchased Shares, the Purchased Shares will be duly and validly issued, fully
paid and nonassessable;

     

    (iii)          will
not have been issued or sold in violation of any preemptive or other similar
rights of the holders of any securities of the Company or rights to acquire
securities of the Company; and

     

    (iv)          will
not subject the holders thereof to personal liability by reason of being such
holders.

     

    (h)           Litigation.  There
is no pending or, to the best knowledge of the Company, threatened, action,
suit, proceeding or investigation before any court, governmental agency or body,
or arbitrator having jurisdiction over the Company, or any of its Affiliates
that would affect the execution by the Company or the complete and timely
performance by the Company of its obligations under the Transaction
Documents.  Except as disclosed in the periodic reports filed by the
Company with the Commission, there is no pending or, to the best knowledge of
the Company, basis for or threatened action, suit, proceeding or investigation
before any court, governmental agency or body, or arbitrator having jurisdiction
over the Company, or any of its Affiliates which litigation if adversely
determined would have a Material Adverse Effect.

    
      
         

      

      
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    (i)           No Market
Manipulation.  The Company and its Affiliates have not taken,
and will not take, directly or indirectly, any action designed to, or that might
reasonably be expected to, cause or result in stabilization or manipulation of
the price of the Company’s capital stock or to facilitate the sale or
resale of the Purchased Shares or affect the price at which the Purchased Shares
may be issued or resold.

     

    (j)           Information Concerning
Company.  The Reports and Other Written Information contain all
material information relating to the Company and its operations and financial
condition as of their respective dates which information is required to be
disclosed therein.   Since May 31, 2009 and except as modified in
the Reports and Other Written Information or in the Schedules hereto, there has
been no Material Adverse Effect relating to the Company’s business, financial
condition or affairs. The Reports and Other Written Information, including the
financial statements included therein do not contain any untrue statement of a
material fact or omit to state a material fact required to be stated therein or
necessary to make the statements therein, taken as a whole, not misleading in
light of the circumstances and when made.

     

    (k)           Defaults.  The
Company is not in material violation of its articles of incorporation or
bylaws.   The Company is (i) not in default under or in violation
of any other material agreement or instrument to which it is a party or by which
it or any of its properties are bound or affected, which default or violation
would have a Material Adverse Effect, (ii) not in default with respect to any
order of any court, arbitrator or governmental body or subject to or party to
any order of any court or governmental authority arising out of any action, suit
or proceeding under any statute or other law respecting antitrust, monopoly,
restraint of trade, unfair competition or similar matters which default would
have a Material Adverse Effect, or (iii) not in violation of any statute, rule
or regulation of any governmental authority which violation would have a
Material Adverse Effect.

     

    (l)           No Integrated
Offering.   Neither the Company, nor any of its
Affiliates, nor any person acting on its or their behalf, has directly or
indirectly made any offers or sales of any security of the Company nor solicited
any offers to buy any security of the Company under circumstances that would
cause the offer of the Purchased Shares pursuant to this Agreement and the Other
Subscription Agreements to be integrated with prior offerings by the
Company such that a violation of the 1933 Act would result.  No prior
offering will impair the exemptions relied upon in this Offering or the
Company’s ability to timely comply with its obligations
hereunder.  The Company will not conduct any offering other than the
transactions contemplated hereby that may be integrated with the offer or
issuance of the Purchased Shares that would impair the exemptions relied upon in
this Offering or the Company’s ability to timely comply with its obligations
hereunder.

     

    (m)         No General
Solicitation.  Neither the Company, nor any of its Affiliates,
nor to its knowledge, any person acting on its or their behalf, has engaged in
any form of general solicitation or general advertising (within the meaning of
Regulation D under the 1933 Act) in connection with the offer or sale of the
Purchased Shares.

    
      
         

      

      
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    (n)          No Undisclosed
Liabilities.  The Company has no liabilities or obligations
which are material, individually or in the aggregate, other than those incurred
in the ordinary course of the Company businesses since May 31, 2009 and
which, individually or in the aggregate, would reasonably be expected to have a
Material Adverse Effect, except as disclosed in the Reports or on Schedule 4(n).

     

    (o)          No Undisclosed Events or
Circumstances.  Since May 31, 2009, except as disclosed in the
Reports, no event or circumstance has occurred or exists with respect to the
Company or its businesses, properties, operations or financial condition, that,
under applicable law, rule or regulation, requires public disclosure or
announcement prior to the date hereof by the Company, but which has not been so
publicly announced or disclosed in the Reports.

     

    (p)          No Disagreements with
Accountants and Lawyers. There
are no material disagreements of any kind presently existing, or reasonably
anticipated by the Company to arise between the Company and the accountants and
lawyers previously and presently employed or retained by the Company, including,
but not limited to, disputes or conflicts over payment owed to such accountants
and lawyers, nor have there been any such disagreements during the two years
prior to the Closing Date, in each case, that could cause a Material Adverse
Effect.

    

    (q)          Reporting
Company.  Pursuant to the provisions of the Securities Exchange
Act of 1934, as amended (the “1934 Act”), the Company has timely filed all
reports and other materials required to be filed thereunder with the Commission
during the preceding twelve months.

    

    (r)           Listing.  The
Company’s common stock is quoted on the Bulletin Board under the symbol
CHNC.OB.  The Company has not received any oral or written notice that
its common stock is not eligible nor will become ineligible for quotation on the
Bulletin Board nor that its common stock does not meet all requirements for the
continuation of such quotation.  The Company satisfies all the
requirements for the continued quotation of its common stock on the Bulletin
Board.

    

    (s)          Environmental
Compliance. Since their inception, neither the Company, nor any of its
Subsidiaries have been, in violation of any applicable law relating to the
environment or occupational health and safety, where such violation would have a
Material Adverse Effect. The Company and its Subsidiaries (i) are in compliance
with any and all Environmental Laws (as hereinafter defined), (ii) have received
all permits, licenses or other approvals required of them under applicable
Environmental Laws to conduct their respective businesses and (iii) are in
compliance with all terms and conditions of any such permit, license or approval
where, in each of the foregoing clauses (i), (ii) and (iii), the failure to so
comply could be reasonably expected to have, individually or in the aggregate, a
Material Adverse Effect. “Environmental Laws” shall mean
all applicable laws relating to the protection of the environment including,
without limitation, all requirements pertaining to reporting, licensing,
permitting, controlling, investigating or remediating emissions, discharges,
releases or threatened releases of hazardous substances, chemical substances,
pollutants, contaminants or toxic substances, materials or wastes, whether
solid, liquid or gaseous in nature, into the air, surface water, groundwater or
land, or relating to the manufacture, processing, distribution, use, treatment,
storage, disposal, transport or handling of hazardous substances, chemical
substances, pollutants, contaminants or toxic substances, material or wastes,
whether solid, liquid or gaseous in nature. Other than as disclosed on Schedule 4(s), the Company and each of its
Subsidiaries are also in compliance with all other limitations, restrictions,
conditions, standards, requirements, schedules and timetables required or
imposed under all Environmental Laws. There are no past or present events,
conditions, circumstances, incidents, actions or omissions relating to or in any
way affecting the Company or its Subsidiaries that violate or may violate any
Environmental Law after the Closing Date or that may give rise to any
environmental liability, or otherwise form the basis of any claim, action,
demand, suit, proceeding, hearing, study or investigation (i) under any
Environmental Law, or (ii) based on or related to the manufacture, processing,
distribution, use, treatment, storage (including without limitation underground
storage tanks), disposal, transport or handling, or the emission, discharge,
release or threatened release of any hazardous substance where, in each of the
foregoing clauses (i) and (ii), the failure to so comply could be reasonably
expected to have, individually or in the aggregate, a Material Adverse
Effect.

    
      
         

      

      
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    (t)           Employees. Except as
disclosed on Schedule
4(t), neither the Company nor any
Subsidiary has any collective bargaining arrangements or agreements covering any
of its employees. Except as disclosed in the Reports or Other Written
Information, neither the Company nor any Subsidiary has any employment contract,
agreement regarding proprietary information, non-competition agreement,
non-solicitation agreement, confidentiality agreement, or any other similar
contract or restrictive covenant, relating to the right of any officer, employee
or consultant to be employed or engaged by the Company or such Subsidiary
required to be disclosed in a report filed with the Commission that is not so
disclosed. Except as set forth in the Reports, since May 31, 2009, no officer,
consultant or key employee of the Company or any Subsidiary whose termination,
either individually or in the aggregate, would have a Material Adverse Effect,
has been terminated or, to the knowledge of the Company, has any present
intention of terminating his or her employment or engagement with the Company or
any Subsidiary.

    

    (u)          Public Utility Holding
Company Act; Investment Company Act and U.S.
Real Property Holding Corporation Status. The Company is not a “holding
company” or a “public utility company” as such terms are defined in the Public
Utility Holding Company Act of 1935, as amended. The Company is not, and as a
result of and immediately upon the Closing will not be, an “investment company”
or a company “controlled” by an “investment company,” within the meaning of the
Investment Company Act of 1940, as amended.  The Company is not and
has never been a U.S. real property holding corporation within the meaning
of Section 897 of the Internal Revenue Code of 1986, as amended.

    

    (v)          ERISA. No liability
to the Pension Benefit Guaranty Corporation has been incurred with respect to
any Plan (as defined below) by the Company or any of its Subsidiaries which is
or would be materially adverse to the Company and its subsidiaries. The
execution and delivery of this Agreement and the other Transaction Documents and
the issuance and sale of the Purchased Shares will not involve any transaction
which is subject to the prohibitions of Section 406 of ERISA or in connection
with which a tax could be imposed pursuant to Section 4975 of the Internal
Revenue Code of 1986, as amended, provided, that, if any of the Subscribers, or
any person or entity that owns a beneficial interest in any of the Subscribers,
is an “employee pension benefit plan” (within the meaning of Section 3(2) of
ERISA) with respect to which the Company is a “party in interest” (within the
meaning of Section 3(14) of ERISA), the requirements of Sections 407(d)(5) and
408(e) of ERISA, if applicable, are met. As used in this Section 2.1(bb), the
term “Plan” shall mean
an “employee pension benefit plan” (as defined in Section 3 of ERISA) which is
or has been established or maintained, or to which contributions are or have
been made, by the Company or any Subsidiary or by any trade or business, whether
or not incorporated, which, together with the Company or any Subsidiary, is
under common control, as described in Section 414(b) or (c) of the
Code.

    
      
         

      

      
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    (w)         Independent Nature of
Subscribers. The Company acknowledges that the obligations of the
Subscriber under the Transaction Documents are several and not joint with the
obligations of any Other Subscriber, and the Subscriber shall not be responsible
in any way for the performance of the obligations of any Other Subscriber under
the Transaction Documents. The Company acknowledges that the decision of the
Subscriber to purchase securities pursuant to this Agreement has been made
by the Subscriber independently of any Other Subscriber and independently
of any information, materials, statements or opinions as to the business,
affairs, operations, assets, properties, liabilities, results of operations,
condition (financial or otherwise) or prospects of the Company or of its
Subsidiaries which may have been made or given by any Other Subscriber or by any
agent or employee of any Other Subscriber, and neither the Subscriber nor any of
its agents or employees shall have any liability to any Other Subscriber (or any
other person) relating to or arising from any such information, materials,
statements or opinions. The Company acknowledges that nothing contained herein,
or in any Transaction Document, and no action taken by the Subscriber pursuant
hereto or thereto, shall be deemed to constitute the Subscriber as being in a
partnership, an association, a joint venture or any other kind of entity with
any Other Subscriber or any other person, or create a presumption that the
Subscriber is in any way acting in concert or as a group with any other person
with respect to such obligations or the transactions contemplated by the
Transaction Documents. The Company acknowledges that the Subscriber shall be
entitled to independently protect and enforce the Subscriber’s rights,
including, without limitation, the rights arising out of this Agreement or out
of the other Transaction Documents, and it shall not be necessary for any Other
Subscriber to be joined as an additional party in any proceeding for such
purpose.

    

    (x)           Sarbanes-Oxley Act.
The Company is in material compliance with the applicable provisions of the
Sarbanes-Oxley Act of 2002 (the “Sarbanes-Oxley Act”), and the
rules and regulations promulgated thereunder, that are effective and for which
material compliance by the Company is required as of the date
hereof.

    

    (y)          PFIC.  Neither
the Company nor any of its Subsidiaries is or intends to become a “passive
foreign investment company” within the meaning of Section 1297 of the U.S.
Internal Revenue Code of 1986, as amended.

    

    (z)           OFAC. Neither the
Company nor any of its Subsidiaries nor, to the knowledge of the Company, any
director, officer, agent, employee, Affiliate or person acting on behalf of any
of the Company or any of its Subsidiaries, is currently subject to any U.S.
sanctions administered by the Office of Foreign Assets Control of the U.S.
Treasury Department (“OFAC”); and the Company will
not directly or indirectly use the proceeds of the sale of the Purchased Shares,
or lend, contribute or otherwise make available such proceeds to any subsidiary
of the Company, joint venture partner or other person or entity, towards any
sales or operations in Cuba, Iran, Syria, Sudan, Myanmar or any other country
sanctioned by OFAC or for the purpose of financing the activities of any person
currently subject to any U.S. sanctions administered by OFAC.

    
      
         

      

      
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    (aa)        Money Laundering
Laws. The operations of each of the Company and its Subsidiaries are and
have been conducted at all times in compliance with the money laundering
requirements of all applicable governmental authorities and any related or
similar rules, regulations or guidelines, issued, administered or enforced by
any governmental authority (collectively, the “Money Laundering Laws”) and no
action, suit or proceeding by or before any court or governmental authority or
any arbitrator involving any of the Company or any of its Subsidiaries with
respect to the Money Laundering Laws is pending or, to the best knowledge of the
Company, threatened.

    

    (bb)       Company Predecessor and
Subsidiaries.  The Company makes each of the representations
contained in Sections 4(a), (b), (c), (d), (e), (f), (h), (j), (k), (n), (o),
(p), (q), (r), (u), (v), (w), (y), (z) and (aa) of this Agreement, as same
relate or could be applicable to each Subsidiary.  All representations
made by or relating to the Company of a historical or prospective nature and all
undertakings described in Sections 6(f) through 6(j) shall relate, apply and
refer to the Company and its predecessors and successors.  The Company
represents that it owns all of the equity of the Subsidiaries and rights to
receive equity of the Subsidiaries identified on Schedule 4(a), free and clear of all
liens, encumbrances and claims, except as set forth on Schedule 4(a).  No person or
entity other than the Company has the right to receive any equity interest in
the Subsidiaries.  The Company further represents that the
Subsidiaries have not been known by any other name for the prior five
years.

    

    (dd)       Solvency. Based on
the financial condition of the Company as of the Closing Date after giving
effect to the receipt by the Company of the proceeds from the Offering the
Company’s fair saleable value of its assets exceeds the amount that will be
required to be paid on or in respect of the Company’s existing debts and other
liabilities (including known contingent liabilities) as they mature. The Company
does not intend to incur debts beyond its ability to pay such debts as they
mature.

    

    (ee)        Correctness of
Representations.  The Company represents that the foregoing
representations and warranties are true and correct as of the date hereof in all
material respects, and, unless the Company otherwise notifies the Subscriber
prior to the Closing Date, shall be true and correct in all material respects as
of the Closing Date; provided, that, if such representation or warranty is made
as of a different date, in which case such representation or warranty shall be
true as of such date.

     

    (ff)         Survival.  The
foregoing representations and warranties shall survive for a period of twelve
(12) months after the Closing Date.

    
      
         

      

      
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    5.           Regulation D/Regulation S Offering/Legal
Opinion.  The offer and issuance of the Purchased Shares to the
Subscribers is being made pursuant to the exemption from the registration
provisions of the 1933 Act afforded by Section 4(2) or Section 4(6) of the 1933
Act or Rule 506 of Regulation D and/or Regulation S promulgated
thereunder.  On the Closing Date, the Company will provide an opinion
reasonably acceptable to the Subscriber from the Company’s legal counsel opining
on the availability of an exemption from registration under the 1933 Act as it
relates to the offer and issuance of the Purchased Shares and other matters
reasonably requested by Subscribers.  A form of the Closing Legal
Opinion is annexed hereto as Exhibit B.  The Company will
provide, at the Company’s expense, such other legal opinions, if any, as are
reasonably necessary in each Subscriber’s opinion for the issuance and resale of
the Purchased Shares pursuant to an effective registration statement, Rule
144 under the 1933 Act or an exemption from registration.

     

    6.           Covenants of the
Company.  The Company covenants and agrees with the Subscribers
as follows:

     

    (a)           Stop
Orders.  Subject to the prior notice requirement described in
Section 6(n), the Company will advise the Subscribers, within twenty-four hours
after it receives notice of issuance by the Commission, any state securities
commission or any other regulatory authority of any stop order or of any order
preventing or suspending any offering of any securities of the Company, or of
the suspension of the qualification of the common stock of the Company for
offering or sale in any jurisdiction, or the initiation of any proceeding for
any such purpose.  The Company will not issue any stop transfer order
or other order impeding the sale, resale or delivery of any of the Purchased
Shares, except as may be required by any applicable federal or state securities
laws and unless contemporaneous notice of such instruction is given to the
Subscribers.

     

    (b)           Listing/Quotation;
Uplisting.  Until the uplisting referred to in the next
sentence, the Company will maintain the quotation or listing of its common stock
on the Bulletin Board. The Company shall complete an uplisting of its common
stock on the Nasdaq Capital Market, the Nasdaq Global Market, the Nasdaq Global
Select or any successor market thereto (collectively, “Nasdaq”), NYSE Amex or any
successor market thereto, or NYSE or any successor market thereto (together with
Nasdaq and NYSE Amex, each a “National Stock Exchange”) at
the earliest possible date but not later than the date which is eight months
after the Closing Date or the closing of a registered underwritten public
offering of the common stock. (Whichever of the Bulletin Board or National Stock
Exchange is at the time the principal trading exchange or market for the common
stock is sometimes referred to herein as the “Principal
Market”).  The Company will comply in all respects with the
Company’s reporting, filing and other obligations under the bylaws or rules of
the Principal Market, as applicable, as long as any Purchased Shares are
outstanding. The Company will provide the Subscriber with copies of all notices
it receives notifying the Company of the threatened and actual delisting of the
common stock from any Principal Market.  As of the date of this
Agreement and the Closing Date, the Bulletin Board is and will be the Principal
Market.

     

    (c)           Market
Regulations.  If required, the Company shall notify the
Commission, the Principal Market and applicable state authorities, in accordance
with their requirements, of the transactions contemplated by this Agreement and
the Other Subscription Agreements, and shall take all other necessary action and
proceedings as may be required and permitted by applicable law, rule and
regulation, for the legal and valid issuance of the Purchased Shares to the
Subscriber and the Other Subscribers and promptly provide copies thereof to the
Subscriber and the Other Subscribers.

    
      
         

      

      
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    (d)          Filing Requirements.  From
the date of this Agreement and until the first to occur of (i) two (2) years
after the Closing Date, or (ii) until all the Purchased Shares have been resold
or transferred by the Subscriber pursuant to a registration statement or
pursuant to Rule 144(b)(1)(i) (the date of such latest occurrence being the
“End Date”), the Company
will (A) comply in all respects with its reporting and filing obligations under
the 1934 Act, and (B) comply with all requirements related to any registration
statement filed pursuant to this Agreement.  The Company will use its
best efforts not to take any action or file any document (whether or not
permitted by the 1933 Act or the 1934 Act or the rules thereunder) to terminate
or suspend such registration or to terminate or suspend its reporting and filing
obligations under said acts until the End Date.  Until the End Date,
the Company will continue the listing or quotation of the common stock on a
Principal Market and will comply in all respects with the Company’s reporting,
filing and other obligations under the bylaws or rules of the Principal
Market.  The Company agrees to timely file a Form D with respect to
the Purchased Shares if required under Regulation D and to provide a copy
thereof to the Subscriber promptly after such filing.

     

    (e)          Use of
Proceeds.   The proceeds of the Offering will be employed
by the Company for expenses of the Offering and geographic expansion through
acquisitions in Beijing, Linyi (Shandong), Shenyang (Lioaning) and/or Xinjiang
(Uyghur). Except as described on Schedule 6(e), the Purchase
Price may not and will not be used for accrued and unpaid officer and director
salaries, payment of financing related debt, redemption of outstanding notes or
equity instruments of the Company nor non-trade obligations outstanding on the
Closing Date.

     

    (f)           Taxes.  From
the date of this Agreement and until the End Date, the Company will promptly pay
and discharge, or cause to be paid and discharged, when due and payable, all
lawful taxes, assessments and governmental charges or levies imposed upon the
income, profits, property or business of the Company; provided, however, that any
such tax, assessment, charge or levy need not be paid if the validity thereof
shall currently be contested in good faith by appropriate proceedings and if the
Company shall have set aside on its books adequate reserves with respect
thereto, and provided, further, that the
Company will pay all such taxes, assessments, charges or levies forthwith upon
the commencement of proceedings to foreclose any lien which may have attached as
security therefor.

     

    (g)          Books and
Records.  From the date of this Agreement and until the End
Date, the Company will keep true records and books of account in which full,
true and correct entries will be made of all dealings or transactions in
relation to its business and affairs in accordance with generally accepted
accounting principles applied on a consistent basis.

     

    (h)          Insurance.  As
reasonably necessary as determined by the Company, from the date of this
Agreement and until the End Date, the Company will keep its assets which are of
an insurable character insured by financially sound and reputable insurers
against loss or damage by fire, explosion and other risks customarily insured
against by companies in the Company’s line of business and location, in amounts
and to the extent and in the manner customary for companies in similar
businesses similarly situated and located and to the extent available on
commercially reasonable terms.

    
      
         

      

      
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    (i)           Governmental
Authorities.   From
the date of this Agreement and until the End Date, the Company shall duly
observe and conform in all material respects to all valid requirements of
governmental authorities relating to the conduct of its business or to its
properties or assets.

     

    (j)           Properties. From
the date of this Agreement and until the End Date, the Company will keep its
properties in good repair, working order and condition, reasonable wear and tear
excepted, and from time to time make all necessary and proper repairs, renewals,
replacements, additions and improvements thereto; and the Company will at all
times comply with each provision of all leases and claims to which it is a party
or under which it occupies or has rights to property if the breach of such
provision could reasonably be expected to have a Material Adverse
Effect.  The Company will not abandon any of its assets, except for
those assets which have negligible or marginal value or for which it is prudent
to do so under the circumstances.

     

    (k)           Non-Public
Information.  The
Company covenants and agrees that except for the Reports, Other Written
Information and schedules and exhibits to this Agreement and the Transaction
Documents, neither it nor any other person acting on its behalf will at any time
provide the Subscriber or its agents or counsel with any information that the
Company believes constitutes material non-public information, unless prior
thereto the Subscriber shall have agreed in writing to accept such
information.  The Company understands and confirms that
the Subscriber shall be relying on the foregoing representations in
effecting transactions in securities of the Company.

    

    (l)           Additional Negative
Covenants.  From the date of this Agreement and until the End
Date, the Company will not and will not permit any of its Subsidiaries, without
the written consent of the Subscribers, to directly or indirectly:

    

    (i)           engage
in any business other than businesses engaged in or proposed to be engaged in by
the Company on the Closing Date or businesses similar thereto;

    

    (ii)           merge
or consolidate with any person or entity (other than mergers of wholly owned
subsidiaries into the Company), or sell, lease or otherwise dispose of its
assets other than in the ordinary course of business involving an aggregate
consideration of more than ten percent (10%) of the book value of its assets on
a consolidated basis in any 12-month period, or liquidate, dissolve,
recapitalize or reorganize;

    

    (iii)          incur
any indebtedness for borrowed money or become a guarantor or otherwise
contingently liable for any such indebtedness except for obligations incurred in
the ordinary course of business;  or

    

    (iv)          enter
into any new agreement or make any amendment to any existing agreement, which by
its terms would restrict the Company’s performance of its obligations to holders
of the Purchased Shares pursuant to this Agreement, the Other Subscription
Agreements or any Transaction Documents.

    
      
         

      

      
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    7.           Covenants of the Company
Regarding Indemnification.

     

    (a)          The
Company agrees to indemnify, hold harmless, reimburse and defend the Subscriber,
the Subscriber’s officers, directors, agents, Affiliates, members, managers,
control persons, and principal shareholders, against any claim, cost, expense,
liability, obligation, loss or damage (including reasonable legal fees) of
any nature, incurred by or imposed upon the Subscriber or any such person which
results, arises out of or is based upon (i) any material misrepresentation by
the Company or breach of any representation or warranty by the Company in this
Agreement or in any Exhibits or Schedules attached hereto in any Transaction
Document, or (ii) after any applicable notice and/or cure periods, any breach or
default in performance by the Company of any material covenant or undertaking to
be performed by the Company hereunder, or any other material agreement entered
into by the Company and Subscriber relating hereto.

     

    (b)          In
no event shall the liability of the Subscriber or permitted successor hereunder
or under any Transaction Document or other agreement delivered in connection
herewith exceed the Purchase Price paid by such Subscriber.

     

    (c)          The
procedures set forth in Section 8(e) shall apply to the indemnification set
forth in Section 7.

    

    8.           Registration
Rights.

     

    (a)          Registration Statement
Requirements.  The Company shall file with the Commission a
Form S-1 registration statement (the “Registration Statement”) (or
such other form that it is eligible to use) in order to register all or such
portion of the Registrable Securities (as defined herein) as permitted by the
Commission (provided that the Company shall use diligent efforts to advocate
with the Commission for the registration of all of the Registrable Securities)
pursuant to Rule 415 for resale and distribution under the 1933 Act on or before
the date (the “Required Filing
Date”) which is fifteen (15) calendar days after the Closing Date, and
use its best efforts to cause the Registration Statement to be declared
effective. The Company will register in the Registration Statement the shares of
its common stock to be offered in a primary offering of the Company’s common
stock to be underwritten by Roth Capital Partners, LLC (the “Underwritten Offering”) as
well as the resale by the Subscriber and the Other Subscribers of 100% of the
Purchased Shares (collectively, the “Registrable
Securities”).  In the event that the Company is required by the
Commission to cut back the number of shares being registered in the Registration
Statement pursuant to Rule 415, then the Company shall reduce the Registrable
Securities relating to the resale pro rata.  The Registration
Statement shall also state that, in accordance with Rules 416 and 457 under the
1933 Act, it also covers such indeterminate number of additional shares of
common stock as may become issuable with respect to the Registrable Securities
to prevent dilution resulting from stock splits, stock dividends or similar
transactions. The Registrable Securities relating to the resale shall be
reserved and set aside exclusively for the benefit of the Subscriber and the
Other Subscribers and not issued, employed or reserved for any other person. The
Registration Statement will immediately be amended or additional Registration
Statements will be immediately filed (to the extent permitted by the Commission)
by the Company as necessary to register any Registrable Securities that were not
filed in the initial Registration Statement.

    
      
         

      

      
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    (b)          Registration
Procedures. When the Company effects the registration of any Registrable
Shares under the 1933 Act, the Company will, as expeditiously as
possible:

     

    (i)           prepare
and file with the Commission such amendments and supplements to such
registration statement and the prospectus used in connection therewith as may be
necessary to keep such registration statement effective until such registration
statement has been effective for the earlier of (a) a period of two (2) years,
or (b) until the Purchased Shares can be sold by the Subscriber pursuant to Rule
144 without volume restrictions;

     

    (ii)           furnish
to the Subscriber, at the Company’s expense, such number of copies of the
registration statement and the prospectus included therein (including each
preliminary prospectus) as the Subscriber reasonably may request in order
to facilitate the public sale or their disposition of the securities covered by
such registration statement or make them electronically available;

     

    (iii)          use
its reasonable best efforts to register or qualify the Registrable Shares
covered by such registration statement under the securities or “blue sky” laws
of such jurisdictions as the Subscriber shall request in writing, provided, however, that the
Company shall not for any such purpose be required to qualify generally to
transact business as a foreign corporation in any jurisdiction where it is not
so qualified or to consent to general service of process in any such
jurisdiction;

     

    (iv)          list
the Registrable Shares covered by such registration statement with any
securities exchange on which the common stock of the Company is then listed;
and

     

    (v) 
         provided same would not be
in violation of the provision of Regulation FD under the 1934 Act, make
available for inspection by the Subscriber during reasonable business
hours,  and any attorney, accountant or other agent retained by the
Subscriber or underwriter, all publicly available, non-confidential financial
and other records, pertinent corporate documents and properties of the Company,
and cause the Company's officers, directors and employees to supply all publicly
available, non-confidential information reasonably requested by the Subscriber,
attorney, accountant or agent in connection with such registration statement at
the Subscriber’s expense.

     

    (c)          Provision of
Documents.  It shall be a condition precedent to the
obligations of the Company to complete the registration pursuant to this
Agreement with respect to the Registrable Shares of a particular Subscriber that
such Subscriber shall furnish to the Company in writing such information and
representation letters, including a completed selling securityholder
questionnaire in the form acceptable to the Company, with respect to itself and
the proposed distribution by it as the Company may reasonably request to assure
compliance with federal and applicable state securities laws. 

     

    (d)          Expenses.  All
expenses incurred by the Company in complying with Section 10, including,
without limitation, all registration and filing fees, printing expenses (if
required), fees and disbursements of counsel and independent public accountants
for the Company, fees and expenses (including reasonable counsel fees) incurred
in connection with complying with state securities or “blue sky” laws, fees of
FINRA, transfer taxes, and fees of transfer agents and registrars, are called
“Registration Expenses.”
The Company will pay all Registration Expenses in connection with any
registration statement described in Section 10.

    
      
         

      

      
        19

        
          

        

      

      
         

      

    

     

    (e)           Indemnification and
Contribution.

     

    (i)           In
the event of a registration of any Registrable Shares under the 1933 Act
pursuant to this Section 10, the Company will, to the extent permitted by law,
indemnify and hold harmless the Subscriber, each of the officers, directors,
agents, Affiliates, members, managers, control persons, and principal
shareholders of the Subscriber, each underwriter of such Registrable Shares
thereunder and each other person, if any, who controls such Subscriber or
underwriter within the meaning of the 1933 Act, against any losses, claims,
damages or liabilities, joint or several, to which the Subscriber, or such
underwriter or controlling person may become subject under the 1933 Act or
otherwise, insofar as such losses, claims, damages or liabilities (or actions in
respect thereof) arise out of or are based upon any untrue statement or alleged
untrue statement of any material fact contained in any registration statement
under which such Registrable Shares was registered under the 1933 Act
pursuant to Section 10, any preliminary prospectus or final prospectus contained
therein, or any amendment or supplement thereof, or arise out of or are based
upon the omission or alleged omission to state therein a material fact required
to be stated therein or necessary to make the statements therein not misleading
in light of the circumstances when made, and will subject to the provisions of
Section 10(e)(iii) reimburse the Subscriber, each such underwriter and each such
controlling person for any legal or other expenses reasonably incurred by them
in connection with investigating or defending any such loss, claim, damage,
liability or action; provided, however, that the Company shall not
be liable to the Subscriber to the extent that any such damages arise out
of or are based upon an untrue statement or omission made in any preliminary
prospectus if (i) the Subscriber failed to send or deliver a copy of the final
prospectus delivered by the Company to the Subscriber with or prior to the
delivery of written confirmation of the sale by the Subscriber to the person
asserting the claim from which such damages arise, (ii) the final prospectus
would have corrected such untrue statement or alleged untrue statement or such
omission or alleged omission, or (iii) to the extent that any such loss, claim,
damage or liability arises out of or is based upon an untrue statement or
alleged untrue statement or omission or alleged omission so made in
conformity with information furnished by any such Subscriber in writing
specifically for use in such registration statement or prospectus.

     

    (ii)           In
the event of a registration of any of the Registrable Shares under the 1933 Act
pursuant to Section 10, the Subscriber will, to the extent permitted
by law, indemnify and hold harmless the Company, and each person, if any, who
controls the Company within the meaning of the 1933 Act, each officer of the
Company who signs the registration statement, each director of the Company, each
underwriter and each person who controls any underwriter within the meaning of
the 1933 Act, against all losses, claims, damages or liabilities, joint or
several, to which the Company or such officer, director, underwriter or
controlling person may become subject under the 1933 Act or otherwise, insofar
as such losses, claims, damages or liabilities (or actions in respect thereof)
arise out of or are based upon any untrue statement or alleged untrue statement
of any material fact contained in the registration statement under which
such Registrable Shares were registered under the 1933 Act pursuant to Section
10, any preliminary prospectus or final prospectus contained therein, or any
amendment or supplement thereof, or arise out of or are based upon the omission
or alleged omission to state therein a material fact required to be stated
therein or necessary to make the statements therein not misleading, and will
reimburse the Company and each such officer, director, underwriter and
controlling person for any legal or other expenses reasonably incurred by them
in connection with investigating or defending any such loss, claim, damage,
liability or action, provided, however, that the
Subscriber will be liable hereunder in any such case if and only to the extent
that any such loss, claim, damage or liability arises out of or is based upon an
untrue statement or alleged untrue statement or omission or alleged omission
made in reliance upon and in conformity with information pertaining to
the Subscriber, as such, furnished in writing to the Company by such
Subscriber specifically for use in such registration statement or prospectus,
and provided,
further,
however, that the liability of the Subscriber hereunder shall be limited to the
net proceeds actually received by the Subscriber from the sale of Registrable
Shares pursuant to such registration statement.

    
      
         

      

      
        20

        
          

        

      

      
         

      

    

     

    (iii)          Promptly
after receipt by an indemnified party hereunder of notice of the commencement of
any action, such indemnified party shall, if a claim in respect thereof is to be
made against the indemnifying party hereunder, notify the indemnifying party in
writing thereof, but the omission so to notify the indemnifying party shall not
relieve it from any liability which it may have to such indemnified party other
than under this Section 10(e)(iii) and shall only relieve it from any liability
which it may have to such indemnified party under this Section 10(e)(iii),
except and only if and to the extent the indemnifying party is prejudiced by
such omission. In case any such action shall be brought against any indemnified
party and it shall notify the indemnifying party of the commencement thereof,
the indemnifying party shall be entitled to participate in and, to the extent it
shall wish, to assume and undertake the defense thereof with counsel
satisfactory to such indemnified party, and, after notice from the indemnifying
party to such indemnified party of its election so to assume and undertake the
defense thereof, the indemnifying party shall not be liable to such indemnified
party under this Section 10(e)(iii) for any legal expenses subsequently incurred
by such indemnified party in connection with the defense thereof other than
reasonable costs of investigation and of liaison with counsel so selected,
provided, however, that, if the defendants in any such action include both the
indemnified party and the indemnifying party and the indemnifying party shall
have reasonably concluded that there may be reasonable defenses available to
indemnified party which are different from or additional to those available
to the indemnifying party or if the interests of the indemnified party
reasonably may be deemed to conflict with the interests of the indemnifying
party, the indemnified parties, as a group, shall have the right to select one
separate counsel, reasonably satisfactory to the indemnified and indemnifying
party, and to assume such legal defenses and otherwise to participate in the
defense of such action, with the reasonable expenses and fees of such separate
counsel and other expenses related to such participation to be reimbursed by the
indemnifying party as incurred.

    
      
         

      

      
        21

        
          

        

      

      
         

      

    

     

    (iv)          In
order to provide for just and equitable contribution in the event of joint
liability under the 1933 Act in any case in which either (i) the Subscriber, or
any controlling person of the Subscriber, makes a claim for indemnification
pursuant to this Section 10(e) but it is judicially determined (by the entry of
a final judgment or decree by a court of competent jurisdiction and the
expiration of time to appeal or the denial of the last right of appeal) that
such indemnification may not be enforced in such case notwithstanding the fact
that this Section 10(e) provides for indemnification in such case, or (ii)
contribution under the 1933 Act may be required on the part of the Subscriber or
controlling person of the Subscriber in circumstances for which indemnification
is not provided under this Section 10(e); then, and in each such case, the
Company and the Subscriber will contribute to the aggregate losses, claims,
damages or liabilities to which they may be subject (after contribution from
others) in such proportion so that the Subscriber is responsible only for the
portion represented by the percentage that the public offering price of its
securities offered by the registration statement bears to the public offering
price of all securities offered by such registration statement, provided, however, that, in any
such case, (y) the Subscriber will not be required to contribute any amount in
excess of the public offering price of all such securities sold by it pursuant
to such registration statement; and (z) no person or entity guilty of fraudulent
misrepresentation (within the meaning of Section 11(f) of the 1933 Act) will be
entitled to contribution from any person or entity who was not guilty of such
fraudulent misrepresentation and provided, further, however, that the liability
of the Subscriber hereunder shall be limited to the net proceeds actually
received by the Subscriber from the sale of Registrable Shares pursuant to such
registration statement.

    

    9.           Miscellaneous.

     

    (a)          Notices.  All
notices, demands, requests, consents, approvals, and other communications
required or permitted hereunder shall be in writing and, unless otherwise
specified herein, shall be (i) personally served, (ii) deposited in the mail,
registered or certified, return receipt requested, postage prepaid, (iii)
delivered by reputable air courier service with charges prepaid, or (iv)
transmitted by hand delivery, telegram, or facsimile, addressed as set forth
below or to such other address as such party shall have specified most recently
by written notice.  Any notice or other communication required or
permitted to be given hereunder shall be deemed effective (a) upon hand delivery
or delivery by facsimile, with accurate confirmation generated by the
transmitting facsimile machine, at the address or number designated below (if
delivered on a business day during normal business hours where such notice is to
be received), or the first business day following such delivery (if delivered
other than on a business day during normal business hours where such notice is
to be received) or (b) on the second business day following the date of mailing
by express courier service, fully prepaid, addressed to such address, or upon
actual receipt of such mailing, whichever shall first occur. The addresses for
such communications shall be:

    

    If to the
Company, to:

    

    China
Infrastructure Construction Corporation

    Attn:
Yang Rong

    C915 Jia
Hao International Business Center

    116
Zizhuyuan Road Haidan District, Beijing, China

    facsimile:
86-10-8844-8198

    

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

    

    Guzov
Ofsink, LLC

    Attn:
Darren L. Ofsink

    
      
         

      

      
        22

        
          

        

      

      
         

      

    

    

    600
Madison Avenue, 14th
Floor

    New York,
NY 10022

    facsimile:
(212) 688-7273

    

    If to the
Subscribers:

    

    To each
of the addresses and facsimile numbers listed on the signature pages of this
Agreement

     

    (b)          Entire Agreement;
Assignment.  This Agreement and other documents delivered in
connection herewith represent the entire agreement between the parties hereto
with respect to the subject matter hereof and may be amended only by a writing
executed by both parties.  Neither the Company nor the Subscriber has
relied on any representations not contained or referred to in this Agreement and
the documents delivered herewith.   No right or obligation of the
Company shall be assigned without prior notice to and the written consent of the
Subscribers.

     

    (c)          Counterparts/Execution.  This
Agreement may be executed in any number of counterparts and by the different
signatories hereto on separate counterparts, each of which, when so executed,
shall be deemed an original, but all such counterparts shall constitute but one
and the same instrument.  This Agreement may be executed by facsimile
transmission, PDF, electronic signature or other similar electronic means with
the same force and effect as if such signature page were an original
thereof.

     

    (d)          Law Governing this
Agreement.  This Agreement shall be governed by and construed
in accordance with the laws of the State of New York without regard to
principles of conflicts of laws. Any action brought by either party against the
other concerning the transactions contemplated by this Agreement shall be
brought only in the state courts of New York or in the federal courts located in
the state and county of New York.  The parties to this Agreement
hereby irrevocably waive any objection to jurisdiction and venue of any action
instituted hereunder and shall not assert any defense based on lack of
jurisdiction or venue or based upon forum non
conveniens.  The parties executing this Agreement
and other agreements referred to herein or delivered in connection herewith on
behalf of the Company agree to submit to the in personam jurisdiction of such
courts and hereby irrevocably waive trial by jury.  The
prevailing party shall be entitled to recover from the other party its
reasonable attorney’s fees and costs.  In the event that any provision
of this Agreement or any other agreement delivered in connection herewith is
invalid or unenforceable under any applicable statute or rule of law, then such
provision shall be deemed inoperative to the extent that it may conflict
therewith and shall be deemed modified to conform with such statute or rule of
law.  Any such provision which may prove invalid or unenforceable
under any law shall not affect the validity or enforceability of any other
provision of any agreement.  Each party hereby irrevocably waives
personal service of process and consents to process being served in any suit,
action or proceeding in connection with this Agreement or any other Transaction
Document by mailing a copy thereof via registered or certified mail or overnight
delivery (with evidence of delivery) to such party at the address in effect for
notices to it under this Agreement and agrees that such service shall constitute
good and sufficient service of process and notice thereof.  Nothing
contained herein shall be deemed to limit in any way any right to serve process
in any other manner permitted by law.

    
      
         

      

      
        23

        
          

        

      

      
         

      

    

     

    (e)          Specific Enforcement,
Consent to Jurisdiction.  The Company and the Subscriber
acknowledge and agree that irreparable damage would occur in the event that any
of the provisions of this Agreement were not performed in accordance with their
specific terms or were otherwise breached.  It is accordingly agreed
that the parties shall be entitled to seek an injunction or injunctions to
prevent or cure breaches of the provisions of this Agreement and to enforce
specifically the terms and provisions hereof, this being in addition to any
other remedy to which any of them may be entitled by law or
equity.  Subject to Section 12(d) hereof, the Company hereby
irrevocably waives, and agrees not to assert in any such suit, action or
proceeding, any claim that it is not personally subject to the jurisdiction in
New York of such court, that the suit, action or proceeding is brought in an
inconvenient forum or that the venue of the suit, action or proceeding is
improper.  Nothing in this Section shall affect or limit any right to
serve process in any other manner permitted by law.

     

    (f)           Damages.   In
the event the Subscriber is entitled to receive any liquidated damages pursuant
to the Transactions Documents, the Subscriber may elect to receive the greater
of actual damages or such liquidated damages.

     

    (g)          Maximum
Payments.   Nothing contained herein or in any document
referred to herein or delivered in connection herewith shall be deemed to
establish or require the payment of a rate of interest or other charges in
excess of the maximum permitted by applicable law.  In the event that
the rate of interest or dividends required to be paid or other charges hereunder
exceed the maximum permitted by such law, any payments in excess of such maximum
shall be credited against amounts owed by the Company to the Subscriber and thus
refunded to the Company.

     

    (h)          Calendar
Days.   All references to “days” in the Transaction
Documents shall mean calendar days unless otherwise stated.  The terms
“business days” and “trading days” shall mean days that the New York Stock
Exchange is open for trading for three or more hours.  Time periods
shall be determined as if the relevant action, calculation or time period were
occurring in New York City.  Any deadline that falls on a non-business
day in any of the Transaction Documents shall be automatically extended to the
next business day and interest, if any, shall be calculated and payable through
such extended period.

     

    (i)           Captions: Certain
Definitions.  The captions of the various sections and
paragraphs of this Agreement have been inserted only for the purposes of
convenience; such captions are not a part of this Agreement and shall not be
deemed in any manner to modify, explain, enlarge or restrict any of the
provisions of this Agreement.  As used in this Agreement the term
“person” shall mean and
include an individual, a partnership, a joint venture, a corporation, a limited
liability company, a trust, an unincorporated organization and a government or
any department or agency thereof.

     

    (j)           Severability.  In
the event that any term or provision of this Agreement shall be finally
determined to be superseded, invalid, illegal or otherwise unenforceable
pursuant to applicable law by an authority having jurisdiction and venue, that
determination shall not impair or otherwise affect the validity, legality or
enforceability: (i) by or before that authority of the remaining terms and
provisions of this Agreement, which shall be enforced as if the unenforceable
term or provision were deleted, or (ii) by or before any other authority of any
of the terms and provisions of this Agreement.

    
      
         

      

      
        24

        
          

        

      

      
         

      

    

     

    (k)          Successor
Laws.  References in the Transaction Documents to laws, rules,
regulations and forms shall also include successors to and functionally
equivalent replacements of such laws, rules, regulations and forms.  A
successor rule to Rule 144(b)(1)(i) shall include any rule that would be
available to a non-Affiliate of the Company for the sale of common stock not
subject to volume restrictions and after a six month holding
period.

    

    [Signature
Pages Follow]

     

    
      
        
        

      

      
        25

        
          

        

      

      
        
        

      

    

     

    SIGNATURE PAGE TO
SUBSCRIPTION AGREEMENT

    

    Please
acknowledge your acceptance of the foregoing Subscription Agreement with China
Infrastructure Construction Corporation by signing and returning a copy to the
Company whereupon it shall become a binding agreement.

    

    NUMBER
OF SHARES                               
   x    $3.90 
 =                                   (the
“Subscriber’s portion of the Purchase Price”)

     

    
      
        
          
            
              
                
                  
                    
                      
                        
                          
                            
                              
                                
                                  
                                    
                                      
                                        
                                          
                                            
                                              
                                                
                                                  
                                                    
                                                      	 
      	 
      	 
      
	
                                                              Signature

                                                            	 
      	
                                                              Signature
      (if purchasing jointly)

                                                            
	 
      	 
      	 
      
	 
      	 
      	 
      
	
                                                              Name
      Typed or Printed

                                                            	 
      	
                                                              Name
      Typed or Printed

                                                            
	 
      	 
      	 
      
	 
      	 
      	 
      
	
                                                              Entity
      Name

                                                            	 
      	
                                                              Entity
      Name

                                                            
	 
      	 
      	 
      
	 
      	 
      	 
      
	
                                                              Address

                                                            	 
      	
                                                              Address

                                                            
	 
      	 
      	 
      
	 
      	 
      	 
      
	
                                                              City,
      State and Zip Code

                                                            	 
      	
                                                              City,
      State and Zip Code

                                                            
	 
      	 
      	 
      
	 
      	 
      	 
      
	
                                                              Telephone
      - Business

                                                            	 
      	
                                                              Telephone
      - Business

                                                            
	 
      	 
      	 
      
	 
      	 
      	 
      
	
                                                              Telephone
      – Residence

                                                            	 
      	
                                                              Telephone
      – Residence

                                                            
	 
      	 
      	 
      
	 
      	 
      	 
      
	
                                                              Facsimile
      – Business

                                                            	 
      	
                                                              Facsimile
      - Business

                                                            
	 
      	 
      	 
      
	 
      	 
      	 
      
	
                                                              Facsimile
      – Residence

                                                            	 
      	
                                                              Facsimile
      – Residence

                                                            
	 
      	 
      	 
      
	 
      	 
      	 
      
	
                                                              Tax
      ID # or Social Security #

                                                            	 
      	
                                                              Tax
      ID # or Social Security
#

                                                            

                                                    

                                                  

                                                

                                              

                                            

                                          

                                        

                                      

                                    

                                  

                                

                              

                            

                          

                        

                      

                    

                  

                

              

            

          

        

      

    

     

    Name in
which securities should be issued:                                                                   

     

    Dated:  March
__, 2010

    
      
         

      

      
        26

        
          

        

      

      
         

      

    

    This
Subscription Agreement is agreed to and accepted as of March __,
2010.

     

    
      
        
          
            	
                    CHINA
      INFRASTRUCTURE

                    CONSTRUCTION
      CORPORATION

                  
	 
      	 
      
	
                    By:

                  	 
      
	 
      	
                    Name:

                  
	 
      	
                    Title:

                  

          

        

      

    

     

    
      
         

      

      
        27AMENDMENT TO SUBSCRIPTION
AGREEMENT

     

    THIS AMENDMENT (this “Amendment”), is dated as of
March 5, 2010, by and between China Infrastructure Construction Corporation, a
Colorado corporation (the “Company”), and the subscribers
identified on the signature pages hereto (each a “Subscriber” and collectively,
the “Subscribers”) and
hereby amends the terms of the October 16, 2010 Subscription by and among the
Company and the Subscribers (the “Subscription
Agreement”).  Capitalized terms not otherwise defined herein
shall have the meanings ascribed to them in the Subscription
Agreement.

    

    RECITALS:

    

    WHEREAS, on October 16, 2009,
the Company and certain investors consummated the sale under a Subscription
Agreement (the “Subscription
Agreement”) of approximately 2,564,103 shares of the Company’s common
stock, no par value (the “Common Stock”) for an
aggregate purchase price of approximately $10,000,000 (or $3.90 per Share) (the
“Prior Placement”);
and

    

    WHEREAS, the Company is
currently seeking to engage in an underwritten public offering of its securities
in order to raise additional capital and grow its business which is anticipated
to close on or before December 31, 2010 (the “Public Offering”);
and

     

    WHEREAS, in advance of the
Public Offering, the Company is seeking to consummate a private placement of up
to $5,000,000 of its Common Stock (the “Current Placement”);
and

     

    WHEREAS, the Company and the
Subscribers have reached an agreement to amend the Subscription Agreement on the
terms set forth herein in order to allow the Company to proceed with the Public
Offering and Prior Placement in the most efficient manner;

     

    NOW, THEREFORE, in
consideration of the mutual covenants and other agreements contained in this
Agreement, the Company and the Subscriber hereby agree as follows:

     

    1.            Amendment to Section 8 of
the Subscription Agreement.The following shall be added as Section 8(y)
of the Subscription Agreement:

     

    (y)           Rule 144
Compliance.           For
two (2) years after the Closing Date, the Company shall take all steps necessary
to ensure that Rule 144 under the 1933 Act is available for re-sales of the
Common Stock by the Subscribers upon Rule 144 becoming available pursuant to
Rule 144(i) under the 1933 Act.

    

    2.           Amendment to Section 8(t) of
the Subscription Agreement.  Section 8(t) of the Subscription
Agreement shall be deleted in its entirety and replaced with the
following:

    
      
         

      

      
        1

        
          

        

      

      
         

      

    

     

    (t)           Investor Relations
Firm. Within one hundred eighty (180) days after the Closing Date, the
Company shall retain an investor relations firm for the Company’s investor
relations services. Such engagement shall be subject to approval by Trillion
Growth China General Partner, which approval shall not be unreasonably
withheld.

     

    3.           Amendment to Section
8(x)(iv) of the Subscription Agreement.  Section 8(x)(iv) of
the Subscription Agreement shall be deleted in its entirety and replaced with
the following:

    

    (iv)           enter
into any new agreement or make any amendment to any existing agreement, which by
its terms would restrict the Company’s performance of its obligations to holders
of the Purchased Shares pursuant to this Agreement or any Transaction Documents
other than in connection with the Current Placement or the Public
Offering;

     

    4.           Amendment to Section 8(x)(v)
of the Subscription Agreement.  Section 8(x)(v) of the
Subscription Agreement shall be deleted in its entirety and replaced with the
following:

     

    (v)           enter
into any agreement with any holder or prospective holder of any securities of
the Company, except for investors in the Current Placement and in connection
with the Public Offering, providing for the granting to such holder of
registration rights or protection against dilution;

     

    5.           Amendment to Section
8(x)(vi) of the Subscription Agreement.  Section 8(x)(vi) of
the Subscription Agreement shall be deleted in its entirety and replaced with
the following:

    

    (vi)           enter
into any agreement, except for agreements in connection with the Current
Placement and Public Offering, resulting in the key shareholder owning less than
50% of the issued and outstanding shares of common stock of the
Company.

     

    6.           Amendment to Section 10(a)
of the Subscription Agreement.  Section 10(a) of the
Subscription Agreement shall be deleted in its entirety and replaced with the
following:

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

     

    (a)           Demand
Registration.  If at anytime after December 31, 2010 (a) there
is no effective Registration Statement with respect to Registrable Shares and
(b) not all of the outstanding Registrable Shares may be sold without
registration pursuant to Rule 144 under the 1933 Act, then Holders that (A) as
of the date of this Agreement (directly or with their affiliates) held
Registrable Shares representing more than 50% of the Registrable Shares then
outstanding and (B) at the time of the written demand hold a number of shares of
Common Stock that is equal to at least the Floor Amount (as such term is
hereinafter defined) as of the date of such written demand (individually, a
“Demanding Holder” and
collectively, the “Demanding
Holders”), may make a written demand for registration (a “Demand Registration” and the
registration statement to be filed pursuant to such Demand Registration, the
“Demand Registration
Statement”) under the 1933 Act of the sale of all or part of its
Registrable Shares. Any request for a Demand Registration shall specify the
number of shares (or other amount) of Registrable Shares proposed to be sold and
the intended method(s) of distribution thereof (such written demand, the “Demand Notice”). The Company
will notify the Holders other than the Demanding Holder of the Demand
Registration (each such Holder including Shares of its Registrable Shares in
such registration, a “Participating Holder”) as soon
as practicable, and each such other Holder who wishes to include all or a
portion of its Registrable Shares of the type that are the subject of the Demand
Registration Statement proposed to be filed in such Demand Registration
Statement shall so notify the Company within fifteen (15) days after receipt of
such notice (the “Demanding
Holders’ Deadline”).  The Company shall use its best efforts to
file such Demand Registration Statement within forty five (45) days (the “Required Filing Date”) after
receiving the Demand Notice, and use its best efforts to respond to any comments
to the Demand Registration Statement, received from the Commission, not later
than thirty (30) days after receipt of such comments (the “Required Response Date”). The
Company shall not be obligated to effect more than two (2) Demand Registrations
under this Section 10(a) in respect of Registrable Shares.  “Floor Amount” means 5% of the
outstanding shares of Common Stock, provided that the Floor Amount shall be
calculated by dividing (x) the sum of the number of outstanding shares held by
the Demanding  Holders and all shares issuable to such Demanding
Holders upon exercise or conversion of other securities of the Company held by
the Demanding Holders by (y) the number of shares outstanding; provided, that, the
number of shares outstanding referenced in the foregoing clause (y) shall not
include any shares (A) issued under employee benefit or compensation
arrangements approved by the Board of Directors, (B) issued to all shareholders
of the Company as dividends or in connection with stock splits or similar
transactions, (C) issued to persons unaffiliated with the Company as
consideration for the Company’s acquisition of assets or securities of such
persons or (D) issuable upon conversion or exercise of any options, warrants, or
other exchangeable securities.

     

    7.           Amendment to Section 10(b)
of the Subscription Agreement.  Section 10(b) of the
Subscription Agreement shall be deleted in its entirety and replaced with the
following:

     

    (b)           Piggy-Back
Registration. If at any time after December 31, 2010, when there is not
an effective Registration Statement providing for the resale of all of the
Registrable Shares, and any of the Registrable Shares may not be sold pursuant
to Rule 144 under the 1033 Act, and the Company shall determine to prepare and
file with the Commission a Registration Statement relating to an offering for
its own account or the account of others under the Securities Act of any of its
equity securities (other than for an underwritten offering or on Form S-4 or
Form S-8, each as promulgated under the 1933 Act, or their then equivalents),
the Company shall send to each Holder of Registrable Shares written notice of
such determination.  If within thirty (30) days after receipt of such
notice, or within such shorter period of time as may be specified by the Company
in such written notice as may be necessary for the Company to comply with its
obligations with respect to the timing of the filing of such Registration
Statement, any such Holder shall so request in writing, (which request shall
specify the Registrable Shares intended to be registered), the Company will use
commercially reasonable efforts to cause the registration under the 1933 Act of
all Registrable Shares which the Company has been so requested to register by
the Holder.

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

     

    8.           Amendment to Section 11(a)
of the Subscription Agreement.  Section 11(a) of the
Subscription Agreement shall be deleted in its entirety and replaced with the
following:

    

    (a)           Right of First
Refusal.  During the period from the Closing Date through and
including the first anniversary of the Closing Date, the Subscribers shall be
given not less than ten business days prior written notice (the “Notice of Sale”) of any
proposed sale by the Company of its common stock or other securities or equity
linked debt obligations, except in connection with (i) full or partial
consideration in connection with a strategic merger, acquisition, consolidation
or purchase of substantially all of the securities or assets of corporation or
other entity which holders of such securities or debt are not at any time
granted registration rights, (ii) the Company’s issuance of securities in
connection with strategic license agreements and other partnering arrangements
so long as such issuances are not for the purpose of raising capital and which
holders of such securities or debt are not at any time granted registration
rights, (iii) the Company’s issuance of common stock or the issuances or grants
of options to purchase common stock to employees, directors, and consultants,
including the issuance of an undetermined amount of shares of common stock to
certain shareholders of the Company pursuant to that certain recapitalization of
the Company, (iv) securities upon the exercise or exchange of or conversion of
any securities exercisable or exchangeable for or convertible into shares of
common stock issued and outstanding on the date of this Agreement and described
on Schedule 4(d); and
(v) the Current Placement or Public Offering  (collectively the
foregoing are “Excepted
Issuances”).  The Subscribers shall have the right during the
ten business days following receipt of the Notice of Sale (the “Notice Period”) to purchase in
the aggregate such offered common stock, debt or other securities in accordance
with the terms and conditions set forth in the Notice of Sale in the same
proportion as that of the Subscriber’s Purchase Shares in the
Offering.  In the event such terms and conditions are modified during
the Notice Period, the Subscribers shall be given prompt notice (the “Notice of Modification”) of
such modification and shall have the right during the ten business days
following the Notice of Modification to exercise such purchase
right.

     

    9.           Amendment to Section 11(d)
of the Subscription Agreement.Section 11(d) of the Subscription Agreement
shall be deleted in its entirety and replaced with the
following:

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

     

    (d)           Other
Adjustments.

     

    (i)          
 Other than in connection with Excepted Issuances listed in subparagraphs
(i) through (iv) in the definition of Excepted Issuances above, (x) if the
Company’s actual after tax net income under U.S. GAAP for the fiscal year ending
May 31, 2010 (“Actual 2010 Net
Income”) is less than $14,000,000 (“2010 Targeted Net Income”), or
(y) if the Company’s actual after tax net income under U.S. GAAP for the fiscal
year ending May 31, 2011 (“Actual 2011 Net Income”) is
less than the 2011 Target (as defined below) (“2011 Targeted Net Income”,
together with the 2010 Targeted Net Income, the “Targeted Net Income”), then
the Company shall issue, for each such occasion, to each Subscriber on a
pro-rata basis (determined by dividing each Subscriber’s Purchase Price by the
aggregate Purchase Price delivered to the Company by the Subscribers hereunder),
additional amount of shares of Common Stock (the “Adjustment Shares”) equal to
the percentage of variation of the Actual 2010 Net Income and Actual 2010 Net
Income from the 2010 Targeted Net Income and 2011 Targeted Net Income
respectively (the “Adjustment Percentage”) times the number of Purchased Shares
acquired by such Subscriber pursuant to this Agreement. For example, if the
Actual 2010 Net Income is $12,600,000, which is a variation of 10% of the 2010
Targeted Net Income, then the Company shall issue to each Subscriber, shares of
the Company’s Common Stock, equal to a total of 10% of the Purchased Shares
acquired by such Subscriber hereunder.

     

    (ii)       
    The delivery to Subscriber of the Adjustment Shares
shall be not later than the third business day after the filing of a Form 10-K
with the Commission declaring the annual audited results.

     

    (iii)           Notwithstanding
anything to the contrary contained herein, in determining whether the Company
has achieved either the 2010 Targeted Net Income or 2011 Targeted Net Income,
the Company may disregard any non-cash charge or expense required to be
recognized by the Company under the United States generally accepted accounting
principles (the “GAAP”),
including but not limited to the non-cash charges listed below. In determining
whether the Company has achieved either the 2010 Targeted Net Income or the 2011
Targeted Net Income (as the case may be), (1) any liquidated damages payable
pursuant to the Transaction Documents and (2) any non-cash charges expensed by
the Company related to any Subsequent Financing Warrants issued pursuant to
Section 11(c) herein, in each case, shall not be included as expenses of the
Company. “Net Income”
shall mean the Company’s income after taxes for the fiscal year ending May 31,
2010 or May 31, 2011 (as the case may be) in each case determined in accordance
with GAAP as reported in the 2010 Annual Report or 2011 Annual Report (as the
case may be).

     

    (iv)           Actual
2010 and 2011 Net Income shall be measured at the date on which the Company
releases its Actual 2010 or 2011 Net Income in a Form 10-K filed with the
Commission (the “2010
Measurement Date” and “2011 Measurement
Date”).  The “2011 Target,” shall mean
$19,800,000 in the event that the Company does not complete the Public Offering
on or before the 2011 Measurement Date and $18,000,000 in the event (x) the
Company completes an underwritten public offering on or before the 2011
Measurement Date or (y) the Company sells less than 1,282,052 shares in the
Current Placement.

     

    10.         Consideration for
Amendment.           In
consideration of the foregoing amendments,

     

    (a)           each
Subscriber that is a signatory to this Amendment shall receive one half of one
warrant for each share of Common Stock purchased in the Prior Placement. The
warrants shall be in the form annexed hereto as Exhibit A; and

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

     

    (b)          the
Company hereby agrees that the price of Common Stock sold in the Public Offering
will not be less than $5.20 per share; and

     

    (c)          Any
Subscriber which invested in the Prior Placement and has also invested in the
Current Placement, shall be entitled to the following right to receive shares of
Common Stock:

     

    (i)           Other
than in connection with Excepted Issuances, if the Company does not meet any
Targeted Net Income, then the Company shall issue, for each such occasion, to
each Subscriber on a pro-rata basis (determined by dividing each Subscriber’s
Purchase Price by the aggregate Purchase Price in the Prior Placement),
additional shares of Common Stock (the “Roll Forward Adjustment
Shares”), if any, equal to:

     

    (A)           the
Adjustment Percentage, times the number of shares of Common Stock acquired by
such Subscriber in the Current Placement, minus

     

    (B)           the
Adjustment Percentage times the number of  Purchased Shares acquired
by the Subscriber in the Prior Offering which have been sold by the Subscriber
as of the 2010 or 2011 Measurement Date.

     

    For
example, assume:

     

    Actual
2010 Net Income is $12,600,000, which is an Adjustment Percentage of 10% of the
2010 Targeted Net Income;

     

    Subscriber
A purchased 512,820 Purchased Shares in the Prior Offering;

     

    Subscriber
A purchased 512,820 shares of Common Stock in the Current Placement;
and

     

    Subscriber
A sold 50% of the Prior Offering Purchased Shares as of the Measurement Date,
then

     

    the
Company shall issue to Subscriber A, the number of shares of  Common
Stock, equal to:

     

    (10% *
512,820) minus (512,820 * 50%)*10% = 25,641 shares of Common Stock

     

    (ii)           The
delivery to Subscriber of the Roll Forward Adjustment Shares shall be not later
than the third business day after the Measurement Date.

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

    11.         Miscellaneous.

     

    (a)           Expenses.  The
Company shall bear its own costs and expenses, including legal fees, incurred or
sustained in connection with the preparation of this Amendment and related
matters.  The Company shall pay legal fees for Subscribers to one
legal counsel agreed upon by the Majority Holders in connection with
Subscribers’ review of this Amendment and with respect to Subscribers
participating in the Current Offering.  Such legal fees shall be
capped at $5,000.

     

    (b)           Amendments and
Waivers.  The provisions of this Amendment, 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 the Majority
Holders.

     

    (c)           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 Subscription
Agreement.

     

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

     

    (e)           Execution and
Counterparts.  This Amendment 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.

     

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

     

    (g)           Severability.  If
any term, provision, covenant or restriction of this Amendment 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.

     

    (h)           Headings.  The
headings in this Amendment 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.

    
      
         

      

      
        7

        
          

        

      

      
         

      

    

     

    [Signature
Pages Follow]

     

    
      
         

      

      
        8

        
          

        

      

      
         

      

    

     

    SIGNATURE PAGE TO
AMENDMENT

    

    Please
acknowledge your acceptance of the foregoing Amendment with China Infrastructure
Construction Corporation by signing and returning a copy to the Company
whereupon it shall become a binding agreement.

    

    
      
        	
                  

              	 
      	
                  

              
	
                Signature

              	 
      	
                Signature
      (if purchased jointly)

              
	 
      	 
      	 
      
	
                  

              	 
      	
                  

              
	
                Name
      Typed or Printed

              	 
      	
                Name
      Typed or Printed

              
	 
      	 
      	 
      
	
                  

              	 
      	
                  

              
	
                Entity
      Name

              	 
      	
                Entity
      Name

              
	 
      	 
      	 
      
	
                  

              	 
      	
                  

              
	
                Address

              	 
      	
                Address

              
	 
      	 
      	 
      
	
                  

              	 
      	
                  

              
	
                City,
      State and Zip Code

              	 
      	
                City,
      State and Zip Code

              
	 
      	 
      	 
      
	
                  

              	 
      	
                  

              
	
                Telephone
      - Business

              	 
      	
                Telephone
      - Business

              
	 
      	 
      	 
      
	
                  

              	 
      	
                  

              
	
                Telephone
      – Residence

              	 
      	
                Telephone
      – Residence

              
	 
      	 
      	 
      
	
                  

              	 
      	
                  

              
	
                Facsimile
      – Business

              	 
      	
                Facsimile
      - Business

              
	 
      	 
      	 
      
	
                  

              	 
      	
                  

              
	
                Facsimile
      – Residence

              	 
      	
                Facsimile
      – Residence

              
	 
      	 
      	 
      
	
                  

              	 
      	
                  

              
	
                Tax
      ID # or Social Security #

              	 
      	
                Tax
      ID # or Social Security #

              

      

    

     

    Dated:
February __, 2010

    
      
         

      

      
        9

        
          

        

      

      
         

      

    

    This
Amendment is agreed to and accepted as of February __, 2010.

     

    
      
        
          
            
              	
                      CHINA
      INFRASTRUCTURE CONSTRUCTION CORPORATION

                    	 
	 
      	 
      	 
	
                      By:

                    	
                        

                    	 
	 
      	
                      Name:

                    	 
	 
      	
                      Title:

                    	 

            

          

        

      

    

    
      
         

      

      
        10

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