Document:

Exhibit 4.7 

AMENDMENT NO. 1

TO SHARE ESCROW AGREEMENT

          This AMENDMENT NO. 1 to the SHARE ESCROW AGREEMENT is entered into as of  February 16, 2007 (this “Amendment”) by and among China
Biologic Products, Inc., a Delaware corporation (formerly, GRC Holdings, Inc.) (the “Company”), Lane Capital Markets, LLC, as representative of the Investors (the
“Investor Representative”), Ms. Lin Ling Li and Ms. Siu Ling Chan (together, the “Stockholders”), and Security
Transfer Corporation, as escrow agent (the “Escrow Agent”).  Each of the Company, the Investor Representative, the Stockholders and the Escrow Agent are referred to herein as a
“Party” and collectively, as the “Parties”. Capitalized terms used, but not otherwise defined, herein have the
meanings ascribed to such terms in the Original Agreement (as defined below). 

BACKGROUND

          As a condition to the closing of a Purchase Agreement, dated July 18, 2006, among the Company, the Stockholders and the Investors, the Parties entered into a Share Escrow Agreement, dated as of July
19, 2006 (the “Original Agreement”) pursuant to which the Stockholders placed the Escrow Shares into escrow for the benefit of the Investors in the event that the Company fails to
meet certain Performance Thresholds as set forth therein. The Parties now desire to enter into this Amendment to modify the terms of the Original Agreement as more specifically set forth herein. 

AGREEMENT

          NOW, THEREFORE, in consideration of the mutual promises of the parties hereto, and for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto
agree as follows: 

          1.        Amendment
to Section 4:  Section
4 of the
Original Agreement is amended to insert the following at the end of the final
sentence:

  
    
      “Notwithstanding the foregoing or anything else to the contrary herein, the parties hereto agree that for purposes of determining whether or not the 2006 Threshold or the 2007 Threshold have been achieved, the release of the
        2006 Escrow Shares or the 2007 Escrow Shares, as applicable, to the Stockholders as a result of the operation of this Section 4 shall not be deemed to be an expense, charge, or other deduction from revenues even though GAAP may require contrary
      treatment.” 

  

          2.        Agreement.
In all other respects, the Agreement shall remain in full force and effect. 

          3.        Counterparts.
This Amendment may be executed in two or more counterparts, each of which shall
be deemed an  original but all of which together shall constitute one and the
same instrument. 

          IN WITNESS WHEREOF, the parties hereto have duly executed this Amendment as of the date first above written. 

  	COMPANY: 
	 
	China Biologic
          Products, Inc. 
	 
	 
	By: 	     /s/
            Siu Ling Chan 

	 	Siu Ling Chan 
	 	Chief Executive Officer 
	 	 
	 
	STOCKHOLDERS: 
	 
	 
	/s/
          Lin Ling Li 
	Ms. Lin Ling
          Li 
	 
	 
	/s/
          Siu Ling Chan 
	Ms. Siu Ling
          Chan 
	 
	 
	 
	INVESTOR
            REPRESENTATIVE: 
	 
	Lane Capital
          Markets, LLC 
	 
	 
	By: 	/s/
          Ryan M. Lane 
	 	Ryan M. Lane 
	 	Partner 
	 
	 
	 
	ESCROW
            AGENT: 
	 
	Securities
          Transfer Corporation 
	 
	 
	By:
          	/s/
      Kevin Halter 
	 	Kevin Halter, Jr. 
	 	President 

  

 

 

Amendment No. 1 to Share Escrow AgreementExhibit 4.8 

AMENDMENT NO. 2

TO SHARE ESCROW AGREEMENT

          This AMENDMENT NO. 2 to the SHARE ESCROW AGREEMENT is entered into as of March 27, 2007 (this “Amendment”), by and among China
Biologic Products, Inc., a Delaware corporation (formerly, GRC Holdings, Inc.) (the “Company”), Lane Capital Markets, LLC, as representative of the Investors (the
“Investor Representative”), Ms. Lin Ling Li and Ms. Siu Ling Chan (together, the “Stockholders”), and Security
Transfer Corporation, as escrow agent (the “Escrow Agent”). Each of the Company, the Investor Representative, the Stockholders and the Escrow Agent are referred to herein as a
“Party” and collectively, as the “Parties”. Capitalized terms used, but not otherwise defined, herein have the
meanings ascribed to such terms in the Original Agreement (as defined below). 

BACKGROUND

          As a condition to the closing of the Securities Purchase Agreement, dated July 18, 2006, among the Company, the Stockholders and the Investors, the Parties entered into a Share Escrow Agreement, dated
as of July 19, 2006 (as amended, the “Original Agreement”), pursuant to which the Stockholders placed the Escrow Shares into escrow for the benefit of the Investors in the event
that the Company fails to meet certain Performance Thresholds as set forth therein. Since the execution and delivery of the Original Agreement, the Company has changed its name from GRC Holdings, Inc. to China Biologic Products, Inc., and has
reincorporated from the State of Texas to the State of Delaware. The Parties desire to enter into this Amendment to modify the terms of the Original Agreement as more specifically set forth herein. 

AGREEMENT

          NOW, THEREFORE, in consideration of the mutual promises of the parties hereto, and for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto
agree as follows: 

          I.        References
to GRC Holdings, Inc. All references in the Original
Agreement to GRC Holdings, Inc., a Texas  corporation, are deleted in their entirety
and in lieu thereof, references to China Biologic Products, Inc., a Delaware
corporation is inserted. 

          II.        Amendment
to Section 4: Section
4 of the
Original Agreement is amended to remove the second sentence in its entirety and
to replace it with the following:

  
    
      “The Company will provide the Investor Representative with (a) its audited financial statements, prepared in accordance with United States generally accepted accounting principles, on or before April 30, 2007 so as to allow
        the Investor Representative the opportunity to evaluate whether the 2006 Threshold was attained and (b) its audited financial statements, prepared in accordance with United States generally accepted accounting principles, on or before March 31, 2008
      so as to allow the Investor Representative the opportunity to evaluate whether the 2007 Threshold was attained.” 

  

          III.       Agreement. In all other respects, the Original Agreement shall remain in full force and effect.

          IV.       Counterparts. This Amendment may be executed in two or more counterparts, each of which shall be deemed an
original but all of which together shall constitute one and the same instrument. 

[Signature Page Follows]

2

          IN WITNESS WHEREOF, the parties hereto have duly executed this Amendment as of the date first above written. 

  	COMPANY: 
	 
	China Biologic
          Products, Inc. 
	 
	 
	By: 	         /s/
          Stanley Wong 
	 	Stanley Wong 
	 	Chief Executive Officer 
	 	 
	 
	STOCKHOLDERS: 
	 
	 
	         /s/
      Lin Ling Li 
	Ms. Lin Ling
          Li 
	 
	 
	         /s/
      Siu Ling Chan 
	Ms. Siu Ling
          Chan 
	 
	 
	 
	INVESTOR
            REPRESENTATIVE: 
	 
	Lane Capital
          Markets, LLC 
	 
	 
	By: 	         /s/
          Ryan M. Lane 
	 	Ryan M. Lane 
	 	Partner 
	 
	 
	 
	ESCROW
            AGENT: 
	 
	Securities
          Transfer Corporation 
	 
	 
	By: 	         /s/
          Kevin Halter 
	 	Kevin Halter, Jr. 
	 	President 

  

 

 

Amendment No. 2 to Share Escrow AgreementExhibit 4.9 

AMENDMENT NO. 3

TO SHARE ESCROW AGREEMENT

          This AMENDMENT NO. 3 to the SHARE ESCROW AGREEMENT is entered into as of April 2, 2007 (this “Amendment”), by and among China
Biologic Products, Inc., a Delaware corporation (the “Company”), Lane Capital Markets, LLC, as representative of the Investors (the “Investor
Representative”), Ms. Lin Ling Li and Ms. Siu Ling Chan (together, the “Stockholders”), and Security Transfer Corporation, as escrow agent (the
“Escrow Agent”). Each of the Company, the Investor Representative, the Stockholders and the Escrow Agent are referred to herein as a “Party” and collectively, as the “Parties”. Capitalized terms used, but not otherwise defined, herein have the meanings ascribed to
such terms in the Original Agreement (as defined below). 

BACKGROUND

          As a condition to the closing of the Securities Purchase Agreement, dated July 18, 2006, among the Company, the Stockholders and the Investors, the Parties entered into a Share Escrow Agreement, dated
as of July 19, 2006 (as amended, the “Original Agreement”), pursuant to which the Stockholders placed the Escrow Shares into escrow for the benefit of the Investors in the event
that the Company fails to meet certain Performance Thresholds as set forth therein. The Parties desire to enter into this Amendment to modify the terms of the Original Agreement as more specifically set forth herein. 

AGREEMENT

          NOW, THEREFORE, in consideration of the mutual promises of the parties hereto, and for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto
agree as follows: 

          I.        Amendment
to Disbursement of Escrow Shares: The last sentence
of Section
4 of the Original Agreement is deleted in its entirety
and the following is inserted in its place:

  
    
      “Notwithstanding the foregoing or anything else to the contrary herein, for purposes of determining whether or not the Performance Thresholds set forth in this Section 4 have been met, the release of any of the Escrow Shares
        to Ms. LI Lin Ling and Ms. CHAN Siu Ling as a result of the operation of this Section 4 and the payment of or obligation to pay any liquidated damages accrued by operation of the Registration Rights Agreement, shall not be deemed to be an expense,
      charge, or other deduction from revenues even though GAAP may require contrary treatment.” 

  

          II.       Agreement.
In all other respects, the Original Agreement shall remain in full force and
effect. 

          III.     Counterparts.
This Amendment may be executed in two or more counterparts, each of which shall
be deemed  an original but all of which together shall constitute one and the
same instrument.

          IN WITNESS WHEREOF, the parties hereto have duly executed this Amendment as of the date first above written. 

  	COMPANY: 
	 
	China Biologic
          Products, Inc. 
	 
	 
	By: 	/s/
          Stanley Wong 
	 	Stanley Wong 
	 	Chief Executive Officer 
	 
	 
	 
	STOCKHOLDERS: 
	 
	 
	/s/
          Lin Ling Li 
	Ms. Lin Ling
          Li 
	 
	 
	/s/
          Siu Ling Chan 
	Ms. Siu Ling
          Chan 
	 
	 
	 
	INVESTOR
            REPRESENTATIVE: 
	 
	Lane Capital
          Markets, LLC 
	 
	 
	By: 	/s/Ryan
          M. Lane 
	 	Ryan M. Lane 
	 	Partner 
	 
	 
	 
	ESCROW
            AGENT: 
	 
	Securities
          Transfer Corporation 
	 
	 
	By:
          	/s/
      Kevin Halter 
	 	Kevin Halter, Jr. 
	 	President 

  

 

 

Amendment No. 3 to Share Escrow Agreement

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00129-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00129-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00129-of-00352.parquet"}]]