Document:

Supplementary Agreement of
Changxing Chisen Electric Co., Ltd Relocation Project

     

    Party A:
Zhejiang Changxing Economic Development Zone Management Committee

    

    Party B:
Changxing Chisen Electric Co., Ltd

      

    According
to mutual agreement of <Compensation for acquisition and relocation of
Corporation> signed between Party A and B on the 20th of
August, 2010, the mutually agreed contents of the supplementary agreement is as
following:

    

    The content and clause of rule 6 for
original agreement is: Party B should handover relevant certification documents
of Jingyi Road to Party A within 30 days from the date of signing the original
agreement. In addition, the relocation should be completed within 1 year from
the date of signing the original agreement. Hereby modify as: Party B should
handover relevant certification documents of Jingyi Road to Party A within 30
days after Party A and Changxing County Land Reserve Center assist Party B
acquiring the land use right certificate of no. 1188 Taihu Road. In addition,
the relocation should be completed within 1 year from the date of acquiring the
land use right certificate of no. 1188 Taihu road.

    

    This
agreement is the supplementary of <Compensation for acquisition and
relocation of Corporation>. There is equivalent legal force as if the
original agreement. This agreement should be the basis if there is contradiction
between the two agreements.

    

    There are
six copies for this agreement. The agreement becomes valid after it is signed by
both representatives.

    

    Party A:
Zhejiang Changxing Economic Development Zone Management Committee

    Statutory
representative signature: /s/ Authorized Person

    September
17, 2010

    

    Party B:
Changxing Chisen Electric Co., Ltd

    Statutory
representative signature:  /s/ Authorized Person

    September
17, 2010Contract of
Guarantee of Maximum Amount

     

    AGRICULTURAL
BANK OF CHINA

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    ABCS
(2007) 2005

     

    Contract of
Guarantee of Maximum Amount

     

    Contract
No. 33905001000008626

     

    LenderLender
(full name): Agricultural Bank of China
Changxing
County Sub-branch

     

    Guarantor
(full name): (1) Zhejiang Chisen Glass Co.,
Ltd.

     (2)                                                       

     (3)                                                       

     

    Whereas,
the Guarantor is willing to provide a guarantee of maximum amount for
the Lender’s rights under a series of business contracts (hereinafter
referred to as master contract) concluded by and between the Lender and Changxing Chisen Electric Co.,
Ltd.
(hereinafter referred to as Borrower) in accordance with Article 1 of this
Contract. In accordance with relevant national laws and regulations, all parties
hereby conclude as follows through amicable negotiation:

     

    Article 1  Principal
Lender's rights guaranteed and maximum amount

     

    
      	
              1.

            	
              The
      Guarantor is willing to provide guarantee for the following Lender’s
      rights by and between the Lender and the Borrower, amounting to RMB 76,000,000.00.
      Foreign currency is converted according to the selling price on the date
      of the occurrence of the business under Item 1 of Article 1
      herein.

            

    

     

    
      	
              (1)

            	
              The
      Lender will, from February 10,
      2010 to
      February 9, 2012, transact
      Lender’s rights formed from agreed business together with the
      Borrower. The said period is the definite period of guaranteed Lender’s
      rights of maximum amount. The said business includes: (put “√”before the
      right answer)

            

    

     

    
      	
              þ RMB/foreign
      currency loan

            	
               ̈ L/C
      for deposit abatement

            
	 
      	 
      
	
               ̈ Packing
      credit for exports

            	
               ̈ Commercial
      bill discounted

            
	 
      	 
      
	
               ̈ Commercial
      bill discounted

            	
               ̈ Inward
      documentary Bill

            
	 
      	 
      
	
               ̈ Bank
      Guarantee

            	
              þ Commercial
      draft acceptance

            
	 
      	 
      
	
               ̈ Outward
      documentary Bill

            	 
      
	 
      	 
      
	
               ̈ Other
      business: ___________________

            	 
      

    

     

    
      	
              (2)

            	
              The
      principal and interests of the following unpaid Lender’s rights under
      master contract between the Lender and the Borrower and relevant interest,
      penalty interest, compound interest and expenses. The relevant interest,
      penalty interest, compound interest and expenses will be counted according
      to master contract until the date of actual
  payment:

            

    

     

    
      
        
          
            
              	
                      Name of contract

                    	 	
                      No. of contract

                    	 	 	
                      Unpaid principal and interests

                    	 	 	
                      Currency

                    	 
	 
      	 	 	 	 	 	 	 	 	 	 	 	 
	 
      	 	 	 	 	 	 	 	 	 	 	 	 
	 
      	 	 	 	 	 	 	 	 	 	 	 	 

            

          

        

      

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    (The
attached list added due to the insufficiency of the above list shall be an
integral part of the Contract.)

     

    
      	
              2.

            	
              Category,
      amount, interest rate and term of each business guaranteed by this
      Contract are subject to relevant legal instrument or
    voucher.

            

    

     

    
      	
              3.

            	
              Within
      the period and maximum amount under the Contract, the Lender needs not to
      carry out guarantee procedures one by one at the time of issuing the loan
      under the Contract or providing other bank
  credit.

            

    

     

    
      	
              4.

            	
              Currency
      is not limited in respect of the business occurred within the period and
      maximum amount under the Contract, and the Guarantor undertakes guarantee
      liabilities by the original
currency.

            

    

     

    Article 2 Scope of
guarantee

     

    The scope
of guarantee includes all the expenses accrued to the Lender for realizing
Lender’s rights, including principal and interests of
principal Lender's rights, penalty interest, compound interest,
penalty, liquidated damages, litigation (arbitration) fee and attorney
fees.

     

    The
Guarantor is willing to undertake guarantee liabilities for the part
exceeding the maximum amount due to the change of rate of exchange.

     

    Article 3  Method of
guarantee

     

    The
guarantee herein is joint and several, namely, the guarantors under the Contract
undertake joint and several liabilities for the Lender
jointly.

     

    Article 4  Period of
guarantee

     

    
      	
              1.

            	
              The
      period of guarantee of the Guarantor is two years from the expiration
      of the master contract.

            

    

     

    
      	
              2.

            	
              The
      period of guarantee of commercial draft acceptance, L/C for deposit
      abatement and bank guarantee is two years from the date of the Lender
      advances.

            

    

     

    
      	
              3.

            	
              The
      period of guarantee of commercial bill discounted is two years from the
      expiration of discounted bill.

            

    

     

    
      	
              4.

            	
              If
      the Lender and the Borrower conclude a renewal agreement for
      the period of repaying debts under master contract, the Guarantor
      will continue to undertake the guarantee liabilities and the period
      of guarantee is two years from the expiration of the said renewal
      agreement.

            

    

     

    
      	
              5.

            	
              In
      case the occurrence of events under laws or master contract results in the
      acceleration of maturity of Lender’s rights under master contract by the
      Lender, the period of guarantee is two years as of the date when the
      Lender confirms the acceleration of maturity of Lender’s rights under
      master contract.

            

    

     

    Article 5  Covenants
of the Guarantor

     

    
      	
              1.

            	
              Having
      obtained the authorization for the guarantee under this Contract in
      accordance with relevant provisions and
  procedures.

            

    

     

    
      	
              2.

            	
              Having
      provided the Lender with true, complete and valid financial statements,
      articles of incorporation or other relevant data and information, and
      having accepted the Lender’s supervision and inspection against its
      production operations and financial
status.

            

    

     

    
      	
              3.

            	
              The
      Guarantor is willing to fulfill guarantee liabilities in the event that
      the Borrower fails to repay debts as stipulated in master
      contract.

            

    

     

    
      	
              4.

            	
              In
      case the Guarantor fails to fulfill guarantee liabilities as stipulated in
      the Contract, the Lender has the right to deduct directly relevant amounts
      from the account that the Guarantor opens in the Lender’s
      bank.

            

    

     

    
      	
              5.

            	
              In
      any of the following situations, the Guarantor shall notify the
      Lender immediately in writing:

            

    

     

    
      	
              (1)

            	
              The
      Guarantor changes its name, address, legal representative, contact way,
      etc.;

            

    

     

    
      	
              (2)

            	
              The
      Guarantor changes it subordinate relationship,
      senior personnel, articles of incorporation or organizational
      structure;

            

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    
      	
              (3)

            	
              The
      financial status or production operations of the Guarantor is in trouble,
      or having material lawsuit or arbitration to the
      Guarantor;

            

    

     

    
      	
              (4)

            	
              The
      Guarantor shuts down, goes out of business, suspends business for
      rectification, or files for bankruptcy or reorganization,
      etc.;

            

    

     

    
      	
              (5)

            	
              The
      business license of the Guarantor is cancelled or revoked, or it is
      ordered to close down, or other grounds for dissolution has occurred;
      or

            

    

    
    

    
      	
              (6)

            	
              The
      events happen to the Guarantor that are adverse to the realization of
      Lender’s rights by the Lender;

            

    

     

    
      	
              6.

            	
              In
      the event of carrying out any of the following actions, the Guarantor
      shall notify the Lender 15 days in advance and obtain its written
      consent:

            

    

     

    
      	
              (1)

            	
              The
      Guarantor changes its capital structure or management system, including,
      but not limited to, contract, lease, shareholding reform, joint-operation,
      merger, division, joint venture, reduction of capital, transfer of assets,
      filing for reorganization, reconciliation or bankruptcy;
  or

            

    

     

    
      	
              (2)

            	
              The
      Guarantor provides guarantee to a third party or creates mortgage or
      pledge for the debts of it or a third party, which may impact its
      fulfillment of the guarantee liabilities under the
    Contract.

            

    

     

    Article
6  Confirmation of guaranteed Lender’s rights

     

    In any of
the following situations, the Lender’s rights of the guarantee of maximum amount
under this Contract are confirmed:

     

    
      	
              1.

            	
              The
      definite period of Lender’s rights expires. “The definite period of
      Lender’s rights expires” includes the expiration of the definite period of
      Lender’s rights under Article 1 hereof, and acceleration of maturity of
      definite period of the Lender’s rights by the Lender in accordance with
      relevant national law and regulations or the provisions herein. In case
      the Borrower violates its obligations under master contract or the
      Guarantor violates its obligations under the Contract, the Lender has the
      right to accelerate the maturity of definite period of the Lender’s
      rights;

            

    

     

    
      	
              2.

            	
              New
      Lender’s rights may not happen;

            

    

     

    
      	
              3.

            	
              The
      Borrower and the Guarantor are adjudicated a bankruptcy or revoked;
      or

            

    

     

    
      	
              4.

            	
              Other
      situations stipulated by laws for the confirmation of Lender’s
      rights.

            

    

     

    Article
7 Undertaking of guarantee liabilities

     

    
      	
              1.

            	
              In
      any of the following situations, the Lender has the right to require the
      Guarantor to fulfill guarantee liabilities. In case the amount paid by the
      Guarantor is insufficient to pay off the Lender’s rights guaranteed under
      this Contract, the Lender may apply this amount to repay the
      principal, interests, penalty interest, compound interest or fees,
      etc.;

            

    

     

    
      	
              (1)

            	
              The
      Lender is not repaid upon the expiration of the period of repaying debts
      under master contract. “The period of repaying debts under master contract
      expires” includes the expiration of the period of repaying debts under
      master contract, and acceleration of maturity of definite period of the
      Lender’s rights by the Lender in accordance with relevant national law and
      regulations or the provisions
herein;

            

    

     

    
      	
              (2)

            	
              People’s
      court accepts the Borrower and Guarantor’s application for bankruptcy, or
      verdicts Reconciliation;

            

    

     

    
      	
              (3)

            	
              The
      business license of the Borrower and Guarantor is cancelled or revoked, or
      they are ordered to close down, or other grounds for dissolution has
      occurred;

            

    

     

    
      	
              (4)

            	
              The
      Borrower and Guarantor dead, or are declared missing or
    dead;

            

    

     

    
      	
              (5)

            	
              The
      Guarantor violates its obligations hereunder;
or

            

    

     

    
      	
              (6)

            	
              Other
      situations impacting seriously the realization of Lender’s
      rights.

            

    

     

    
      	
              2.

            	
              In
      case the Lender’s rights guaranteed by this Contract has material
      guarantee and guarantee provided by the Borrower simultaneously, the
      Lender has the right to require the Guarantor to undertake guarantee
      liabilities prior to the material
guarantee.

            

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    
      	
              3.

            	
              If
      the Borrower provides property as guarantee, the Guarantor, in case
      of abandonment of such security interest by the Lender, cis-position of
      the security interest or change of the security interest, agrees to
      provide joint and several guarantee liabilities for the Lender’s rights
      under master contract as specified herein. “The security interest” refers
      to the security interest formed when the Borrower provides material
      guarantee for the Lender’s rights under master
    contract. 

            

    

     

    Article 8 Liabilities for
breach of contract

     

    
      	
              1.

            	
              In
      case the Lender fails to fulfill its obligations agreed results in loss to
      the Guarantor after the effectiveness of the Contract, it shall bear
      relevant liabilities for damages.

            

    

     

    
      	
              2.

            	
              In
      any of the following actions taken by the Guarantor, it shall pay
      penalty to the Lender according to 1 % of the
      maximum amount of the Lender’s rights guaranteed by the Contract; in case
      of any loss to the Lender by the Guarantor, the latter shall compensate
      fully at the same time:

            

    

     

    
      	 	
              (1)

            	
              Having
      not obtained legal and valid authorization for the guarantee
      hereunder;

            

    

     

    
      	 	
              (2)

            	
              Failing
      to provide true, complete and valid financial statements, articles of
      incorporation or other relevant data and
  information;

            

    

      

      	 	
              (3)

            	
              Failing
      to notify the Lender promptly in case of the situation described in Item 5
      of Article 5 of this Contract;

            

    

     

    
      	 	
              (4)

            	
              Having
      not obtained the Lender’s consent in advance prior to the implementation
      of the acts described in Item 6 of Article 5 of this Contract;
      or

            

    

     

    
      	 	
              (5)

            	
              Any
      other act violating the provisions herein or impacting the realization of
      Lender’s rights by the Lender.

            

    

     

    Article
9  Settlement of dispute

       

    In the
event of any dispute arising out during the performance of this Contract,
all parties may solve through negotiation, or settle by the following 1  way:

     

    
      	
              1.

            	
              Litigation,
      under the jurisdiction of the people’s court at the Lender’s
      address.

            

    

     

    
      	
              2.

            	
              Arbitration,
      submitting to   (full
      name of arbitration institution) for arbitration according to its
      arbitration rules.

            

    

     

    During
litigation or arbitration, the provisions hereof not involved in disputes must
be continued.

     

    Article
10  Miscellaneous

     

    
      
        	
                1.

              	
                The
      Guarantor shall comprehend the operating status of the Borrower and the
      occurrence and fulfillment of all business hereunder. The master contract
      and relevant instrument of vouchers for the occurrence of the business
      hereunder will not be sent to the Guarantor
  again.

              

      

    

    _____________________________________________________________________________________________________________

    _____________________________________________________________________________________________________________

    _____________________________________________________________________________________________________________

    _____________________________________________________________________________________________________________

     

    Article
11  Effectiveness of contract

     

    This
Contract will come into force as soon as being signed or sealed by all
parties.

     

    Article 12  This
Contract is in triplicate of equal force, one for the Lender, the Guarantor and
the Borrower respectively.

     

    Article
13  Remarks

     

    The
Lender has called the attention of the Guarantor to understanding fully and
correctly all provisions herein and, at the request of the Guarantor, has made
corresponding explanations for the provisions herein. The parties hereto agree
on the meanings of this Contract.

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