Document:

Exhibit
10.1

       

    

    LETTER
OF INTENT

    

    THIS LETTER OF INTENT is dated
June 30, 2010 and is effective as of the date hereof.

     

    Between: FAR
EAST WIND POWER CORP., a Nevada
corporation having an office at 11811 N. Tatum Blvd., Suite 3031, Phoenix,
Arizona 85028 U.S.A. (“Far
East”)

    

    And: HEILONGJIANG DEFENG INVESTMENT CO.,
LTD. a People’s Republic of China company having an office at 16 Xinfa Street, New and Hi-Tech
Industry Zone, Daqing City, Heilongjiang Province, China (“Defeng”)

    

    And: HEILONGJIANG RUIHAO TECHNOLOGY GROUP
CO., LTD. a People’s Republic of China company having an office at Ruihao Campus, No.3 Industry Park New
and Hi-Tech Industry Zone, Daqing City, Heilongjiang Province, China
(“Ruihao”)

    

    BACKGROUND
AND PURPOSE

    

    (A) Far
East is a public company listed on the OTCBB in the United States under the
symbol “FEWP”.

    

    (B)
Defeng and Ruihao are both companies registered in the People’s Republic of
China (“PRC”). Defeng
holds 99% ownership interest in Heilongjiang Tianyi Fengyuan Investment Co.,
Ltd., a PRC company (“Tianyi
Fengyuan”) and Tianyi Fengyuan holds 44.76% ownership interest in Datang
Yilan Wind Power Co., Ltd. (“Yilan”) and 25% ownership
interest in Datang Hailin Wind Power Co., Ltd. (“Hailin”).

    

    (C) Yilan
has developed two wind farms in the PRC with total installed capacity of 99 MW
and which began commercial production in October 2009.

    

    (D)
Hailin has invested in a 45 MW wind farm in the PRC where construction and
installation have been partially completed and is expected to be completed by
the end of 2010.

    

    (E)
Ruihao owns and has access to substantial wind resources in Heilongjiang
province and Jilin province.

    

    (F) Far
East, Defeng and Ruihao have expressed interest in cooperating to develop 4 wind
farm projects as described on the attached Appendix A (“Ruihao Project A”) and
Appendix B (“Ruihao Project
B”), respectively.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    AGREEMENT

    

    NOW, THEREFORE,  in
consideration of the mutual agreements and representations contained herein, and
other good and valuable consideration, the receipt and sufficiency of which is
hereby acknowledged, the parties agree as follows:

    

    
      	
              1.

            	
              This
      LOI constitutes a binding agreement with regard to the various matters set
      forth herein and shall become effective as of the date set forth on the
      signature page hereto (the “Effective
      Date”).

            

    

     

    
      	
              2.

            	
              Far
      East or its subsidiary agrees to acquire and Defeng agrees to sell 84%
      ownership interest in Tianyi Fengyuan (“Tianyi Fengyuan Interest”) for RMB
      140,000,000 (the “Acquisition Price”).
      Additionally, Far East will also pay Ruihao an amount of either RMB
      25,000,000 or RMB 12,000,000 (the “Pre-Construction Costs”)
      for each of the four Phase I farms listed as part of Ruihao Project A or
      Ruihao Project B that is determined to be construction ready. The amount
      of RMB 25,000,000 will be paid for each farm deemed construction ready in
      2010 and the amount of RMB 12,000,000 will be paid for each farm deemed
      construction ready in 2011. The Pre-Construction Costs represent Far
      East’s participation in obtaining the final approval towards making wind
      farms ready for construction and will be credited as advance payments as
      part of Far East’s expected contribution to the overall construction costs
      to each wind farm as outlined in this document. In consideration for the
      initial payment for Pre-Construction Costs, Ruihao is committed to work
      together with Far East to develop all 4 wind farms identified in Ruihao
      Project A and Ruihao Project B.

            

    

     

    
      	
              3.

            	
              After
      this LOI is signed, by July 24, 2010 the parties agree to enter into a
      definitive agreement (the “Definitive Agreement”)
      containing substantially the same terms and provisions as set forth in
      this LOI. The Definitive Agreement will state that the Acquisition Price
      will be fully due by July 31, 2010 with a non-refundable deposit of 10% of
      the Acquisition Price to be paid immediately upon signing of the
      Definitive Agreement. Additionally, an initial payment of RMB 25,000,000
      for Pre-Construction Costs will be due by August 31, 2010 to ensure a
      Phase I farm will be construction ready in 2010. The timing of further
      payments for Pre-Construction Costs will be determined collectively by Far
      East and Ruihao at a future date, expected to be no later than December
      31, 2010.

            

    

     

    
      	
              4.

            	
              Far
      East will perform due diligence at its own costs on the Tianyi Fengyuan
      Interest, Ruihao Project A and Ruihao Project B. Defeng and Ruihao shall
      make available documents, personnel, data, facilities, information,
      equipment, permits, licenses and materials, to Far East so that Far East
      can conduct such due diligence. Far East shall complete their due
      diligence within 30 days after this LOI is signed. If any significant
      matters are discovered that will materially affect the acquisitions set
      forth in this LOI, Far East will discuss with Defeng and Ruihao
      immediately and all parties agree to solve the problem on a mutually
      beneficial basis.

            

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    
      	
              5.

            	
              Ruihao
      Project A

            

    

     

    
      	
               
      

            	
              a.

            	
              Ruihao
      and a third party (the “Third Party”) each hold
      a 50% ownership interest in two wind farms in Ruihao Project A as listed
      in Appendix A.

            

    

     

    
      	
               
      

            	
              b.

            	
              Ruihao
      will cooperate with Far East and the Third Party on Ruihao Project A. The
      total estimated construction cost for a 49.5 MW wind farm in the Ruihao
      Project A is approximately RMB 425,000,000, and requires equity investment
      of 25% of the total investment (the “Project A Equity
      Investment”).

            

    

     

    
      	
               
      

            	
              c.

            	
              Far
      East or a company designated by Far East, Ruihao or a company designated
      by Ruihao, and the Third Party or a company designated by the Third Party
      will set up a joint venture (“Joint Venture”) to
      develop and operate each wind farm in the Ruihao Project A. Far East will
      contribute 60% of the Project A Equity Investment for 51% ownership
      interest and economic interest in each Joint Venture, and Ruihao and the
      Third Party will collectively contribute 40% of the Project A Equity
      Investment for collectively 49% ownership interest and economic interest
      in each Joint Venture, in Ruihao Project
A.

            

    

     

    
      	
               
      

            	
              d.

            	
              Should
      the Third Party prove unwilling or unable to meet its obligations towards
      any of the Joint Ventures associated with Ruihao Project A, then terms for
      such respective Joint Ventures will default to provisions set forth
      exclusively between Far East and Ruihao as outlined for those wind farms
      associated with Ruihao Project B.

            

    

     

    
      	
               
      

            	
              e.

            	
              Far
      East shall have a right of first refusal on each and every other
      development capacity/phases in Ruihao Project A as set forth in Appendix
      A. In the event Far East exercises its right of first refusal on a given
      phase in Ruihao Project A, all parties will execute according to the terms
      outlined in Sections “c” and “d” of Paragraph 5. In addition, Far East and
      Ruihao shall agree on a fair value for the pre-construction work completed
      by Ruihao.

            

    

     

    6. Ruihao
Project B

     

    
      	
               
      

            	
              f.

            	
              Ruihao
      has exclusive rights to develop wind farms in Ruihao Project B as listed
      in Appendix B.

            

    

     

    
      	
               
      

            	
              g.

            	
              Ruihao
      will cooperate with Far East on Ruihao Project B. The total estimated
      construction cost for a 49.5 MW wind farm in the Ruihao Project B is
      approximately RMB 425,000,000, and requires equity investment of 25% of
      the total investment (the “Project B Equity
      Investment”).

            

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    
      	
               
      

            	
              h.

            	
              Far
      East or a company designated by Far East, and Ruihao or a company
      designated by Ruihao, will set up a Joint Venture to develop and operate
      each wind farm in the Ruihao Project B. Far East will contribute 100% of
      the Project B Equity Investment for 85% ownership interest and economic
      interest in each Joint Venture in Ruihao Project
  B.

            

    

     

    
      	
               
      

            	
              i.

            	
              In
      consideration for the Ruihao Services (as defined below), Upon execution,
      Ruihao will own 15% ownership interest and economic interest in each Joint
      Venture in Ruihao Project B. Ruihao or a company designated by Ruihao has
      the option to purchase up to 36% additional ownership interest in one of
      either Joint Venture in Ruihao Project B by paying the Project B Equity
      Investment amount pro-rated to maintain Far East’s investment cost basis
      per MW. Thereafter, Ruihao has the option to purchase up to 34% additional
      ownership interest in the other respective Joint Venture in Ruihao Project
      B by paying the Project B Equity Investment amount pro-rated to maintain
      Far East’s investment cost basis per
MW.

            

    

     

    
      	
               
      

            	
              j.

            	
              Far
      East shall have a right of first refusal on each and every other
      development capacity/phases in Ruihao Project B as set forth in Appendix
      B. In the event Far East exercises its right of first refusal on a given
      Phase in Ruihao Project B, Far East and Ruihao will execute according to
      the terms outlined in Sections “h” and “i” of paragraph 6 such that Ruihao
      and Far East shall each have a right to obtain a 51% ownership interest
      and economic interest in up to half of the total number of Phases executed
      jointly. In addition, Far East and Ruihao shall agree on a fair value for
      the pre-construction work completed by
Ruihao.

            

    

     

    
      	
               
      

            	
              7.

            	
              Ruihao
      will provide services including obtaining approvals, permits, bank loans
      and negotiating contracts with wind turbine manufactures, EPC (or turn
      key) contract with major wind turbine suppliers (including Mingyang and
      Gold Wind) (the “Ruihao
      Services”).

            

    

     

    
      	
               
      

            	
              8.

            	
              All
      aforementioned options granted to Ruihao or companies designated by Ruihao
      to purchase additional ownership of any fully-formed Joint Venture
      associated with Ruihao Project A or Ruihao B subject to terms prescribed
      in this document will have an Expiration Date of 1 calendar year from the
      formation of the respective Joint Venture or the date Far East has fully
      paid its portion of Equity Investment, which is later. Payment must be
      made to Far East or the respective Joint Venture by the Expiration Date to
      effect the appropriate transfer of
ownership.

            

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    
 

    
      	
               
      

            	
              9.

            	
              In
      the event Far East does not pay the Acquisition Price under Paragraph 2,
      the Definitive Agreement will automatically terminate and any deposits
      paid will be non-refundable.

            

    

     

    
      	 	
              10.

            	
              The
      Definitive Agreement shall contain customary representation and
      warranties, covenants and indemnification
  provisions.

            

    

     

    
      	 	
              11.

            	
              In
      consideration of the time and effort Far East will incur to pursue this
      transaction, Defeng and Ruihao agree that, from the date of execution of
      this LOI (or, if sooner, until such time as the parties agree in writing
      to terminate this LOI) until the closing of the Definitive Agreement (the
      “Closing”),
      neither Defeng nor Ruihao, nor their respective owners nor any person or
      entity acting on their behalf will in any way directly or indirectly (i)
      solicit, initiate, encourage or facilitate any offer to directly or
      indirectly purchase any part of Tianyi Fengyuan, Ruihan Project A, Ruihan
      Project B or assets related thereto, (ii) enter into any discussions,
      negotiations or agreements with any person or entity which provide for
      such purchase, or (iii) provide to any persons other than Far East or its
      representatives any information or data related to such purchase or afford
      access to the properties, books or records of Defeng and Ruihao (as
      related to Tianyi Fengyuan, Ruihan Project A and Ruihan Project B) to any
      such persons.

            

    

     

    
      	 	
              12.

            	
              No
      party hereto will make any disclosure or public announcements of the
      proposed transactions, the LOI or the terms thereof without the prior
      knowledge of the other parties, which shall not be unreasonably withheld,
      or except as required by relevant securities laws; provided, however, a
      party may issue press releases in the ordinary course of
      business.

            

    

     

    
      	 	
              13.

            	
              Each
      party agrees and acknowledges that such party and its directors, officers,
      employees, agents and representatives will disclose business information
      and information about the proposed transaction in the course of securing
      financings for Far East, Tianyi Fengyuan, Ruihan Project A and Ruihan
      Project B and the transactions contemplated hereunder and that the parties
      and their representatives may be required to disclose that information
      under the continuous disclosure requirements of the Securities Exchange
      Act of 1934.

            

    

     

    
      	 	
              14.

            	
              The
      parties shall prepare, execute and file any and all documents necessary to
      comply with all applicable foreign, federal and state securities laws,
      rules and regulations in any jurisdiction where they are required to do
      so.

            

    

     

    
      	 	
              15.

            	
              If
      any term or provision hereof shall be held illegal or invalid, this LOI
      shall be construed and enforced as if such illegal or invalid term or
      provision had not been contained
herein.

            

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    
      	 	
              16.

            	
              This
      LOI may be executed in counterparts, by original or facsimile signature,
      with the same effect as if the signatures to each such counterpart were
      upon a single instrument; and each counterpart shall be enforceable
      against the party actually executing such counterpart.  All
      counterparts shall be deemed an original
copy.

            

    

     

    
      	 	
              17.

            	
              The
      delay or failure of a party to enforce at any time any provision of this
      LOI shall in no way be considered a waiver of any such provision, or any
      other provision of this LOI.  No waiver of, delay or failure to
      enforce any provision of this LOI shall in any way be considered a
      continuing waiver or be construed as a subsequent waiver of any such
      provision, or any other provision of this
LOI.

            

    

    

    
      
        
          
            
              
                
                  
                    
                      
                        
                          
                            
                              
                                	
                                        Far
      East Wind Power Corp.

                                      	 
	 
      	 
	
                                        Signed
      by:

                                      	 
      	 
	
                                        Title:

                                      	 
      	 
      	 
	 
      	 
	
                                        Heilongjiang
      Defeng Investment Co., Ltd.

                                      	 
	
                                        Signed
      by:

                                      	 
      	 
	
                                        Title:

                                      	 
      	 
      	 
	 
      	 
	
                                        Heilongjiang
      Ruihao Technology Group Co., Ltd.

                                      	 
	
                                        Signed
      by:

                                      	 
      	 
	
                                        Title:

                                      	 
      	 
      	 

                              

                            

                          

                        

                      

                    

                  

                

              

            

          

        

      

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    Appendix
A

    

    Far
East and Ruihao will work together on the following projects:

    Both
Phase I projects are in the final permitting and approval process

    Ruihao
expects at least one Phase I project to be construction ready in
2010

    

    
      	
               
      

            	
              1.

            	
              Guangyuan
      Daxin Project Phase I, located at Daxin Village, Shengli Mongolian Town,
      Tailai County, Qiqihaer, Heilongjiang Province. Planned capacity 49.5MW,
      full load hours 2,318 hours with a 1.5MW turbine
      82   meters blades and 80meters tower, projected annual
      production 114,760MWH, average wind speed 6.8 meters per second. Tariff in
      this area is RMB 610 Yuan per MWH.

            

    

     

    This Phase I is part of an
overall 200 MW development Project

     

    
      	
               
      

            	
              2.

            	
              Anda
      Guangyuan Laohugang Project Phase I, located at Laohugang Town, Anda
      County, Suihua, Heilongjiang Province. Planned capacity 49.5MW, full load
      hours 2,284 hours with a 1.5MW turbine 82meters blades and 70 meters
      tower, projected annual production 113,090 MWH, average wind speed 6.7
      meters per second. Tariff in this area is RMB 580 Yuan per
      MWH.

            

    

     

    This Phase I is part of an
overall 600 MW development Project

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    Appendix
B

    

    Far
East and Ruihao will work together on the following projects:

    Both
Phase I projects are in the final permitting and approval process

    Ruihao
expects at least one Phase I project to be construction ready in
2010

    

    
      	
               
      

            	
              3.

            	
              Daqing
      Guofeng Project Phase I, located at Huayuan Town, Lindian County, Daqing,
      Heilongjiang Province. Planned capacity 49.5MW, full load hours 2,133
      hours with a 1.5MW turbine 77 meters blades and 70 meters tower, projected
      annual production 105,620 MWH, average wind speed 6.45 meters per second.
      Tariff in this area is RMB 610 Yuan per
MWH.

            

    

     

    This Phase I is part of an
overall 300 MW development Project

     

    
      	
               
      

            	
              4.

            	
              Daqing
      Zhaoyuan Sansheng Project Phase I, located at Gulong Town, Zhaoyuan
      County, Daqing, Heilongjiang Province. Planned capacity 49.5MW, full load
      hours 2,172 hours with a 1.5MW turbine 77 meters blades and 70 meters
      tower, projected annual production 107,502 MWH, average wind speed 6.58
      meters per second. Tariff in this area is RMB 610 Yuan per MWH. This Phase I is part of an
      overall 250 MW development
ProjectAMENDMENT
AND TERMINATION AGREEMENT

     

    THIS
AMENDMENT AND TERMINATION AGREEMENT (the “Agreement”) is entered
into on this 26th day of
June, 2010, but having an effective date of June 1, 2010 (the “Effective
Date”).

     

    BETWEEN:

     

    TECHMEDIA
ADVERTISING MAURITIUS., a corporation organized under the laws of
Mauritius and having an address for notice and delivery or otherwise located at
c/o 62 Upper Cross Street, #04-01, Singapore 058353

     

    (“TMM”);

     

    OF THE FIRST
PART

     

    AND:

     

    PEACOCK
MEDIA LTD., a corporation organized under the laws of India and having an
address for notice and delivery or otherwise located at 24B, Apollo Industrial
Estate, Off Mahakali Caves Road, Andheri East, Mumbai – 400093
India

     

    (“PML”);

     

    OF THE
SECOND PART 

     

    AND:

     

    TechMedia
Advertising (India)_Private Limited, a company incorporated under the
laws of India and having its address for notice and delivery or otherwise
located at No. 3, Daniel Street, T Nagar, Chennai – 600017, Tamil Nadu,
India

    

    (“TMI”);

     

    OF THE THIRD
PART

     

    (TMM, PML
and TMI collectively, or individually also referred to as a “Party” or the “Parties”)

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    WHEREAS: 

     

    
      	
            	
              A.

            	
              The
      Parties of the First and Second part are the Parties to a Joint Venture
      Development and Operating Agreement (the “JV Agreement”),
      dated effective as of October 22, 2009 and had agreed to certain terms and
      conditions recorded therein including to form a new private Indian company
      where TMM would own 85% and PML would own 15% (the “JV
      Company”).  The JV Company was intended to operate the
      business of displaying mobile digital advertising platforms in available
      public transportation buses in the State of Tamil Nadu in India (“said right”) and, if
      possible, then in entire India or part
thereof;

            

    

    
      	
            	
              B.

            	
              The
      JV Company has not been incorporated as of the date hereof, however, the
      business in respect of the said right of the JV Company has been initiated
      by TMM and PML;

            

    

    
      	
            	
              C.

            	
              TMI
      was incorporated on December 27, 2007 and TMM is holding 100% share
      capital of TMI (i.e. TMI is wholly owned subsidiary of
    TMM);

            

    

    
      	
            	
              D.

            	
              In
      view of above, the Parties have decided to amend the arrangement and
      effectively terminating the JV Agreement or other writings or agreements
      or otherwise on the terms and conditions recorded in the Consulting
      Services Agreement having an effective date of June 1, 2010 (the “Consulting
      Agreement”), attached hereto as Schedule “A”.  This
      Agreement has been authorized by way of a resolution of the Board of
      Directors of PML passed on June 26, 2010, authorized by TMM by way of a
      resolution of its Board of Directors passed on June 26, 2010 and
      authorized by TMI by way of a resolution of its Board of Directors passed
      on June 26, 2010.

            

    

    
      	
            	
              E.

            	
              The
      Parties agree that upon the execution of this Agreement and the execution
      of the Consulting Agreement, there is no longer any purpose for the JV
      Agreement or other writings or agreements or otherwise as the
      responsibilities and obligations of the Parties as set forth under the
      Consulting Agreement are conclusive and binding upon the Parties
      hereto.

            

    

     

    NOW THEREFORE THIS AGREEMENT
WITNESSES that in consideration of the premises and the mutual agreements
and covenants herein contained (the receipt and adequacy of such consideration
is hereby mutually admitted by each Party), the Parties hereby covenant and
agree as follows:

     

    
      	
               
      

            	
              1.

            	
              The
      said JV Agreement dated October 22, 2009 or other writings or agreements
      or otherwise are hereby terminated and no longer of any force and effect
      between the Parties hereto as the responsibilities and obligations of the
      Parties are set forth under the Consulting Agreement which is annexed
      hereto as Schedule
      “A”.

            

    

     

    
      	
               
      

            	
              2.

            	
              The
      Parties are bound and regulated by the said Consulting Agreement and the
      same shall be conclusive and form the operative part of this
      Agreement.

            

    

     

    
      	
               
      

            	
              3.

            	
              Each
      Party hereto agrees that the terms and consequences thereof under this
      Agreement and said Consulting Agreement shall supersede all other earlier
      understanding or writings or agreements or otherwise between the Parties
      hereto in any manner whatsoever.

            

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    
      	
               
      

            	
              4.

            	
              This
      Agreement may be executed in original or counterpart form, delivered by
      facsimile or otherwise, and when executed by the parties as aforesaid,
      shall be deemed to constitute one agreement and shall take effect as
      such.

            

    

     

    IN WITNESS WHEREOF the Parties
have duly executed this Agreement by their duly authorized officers effective
the first day and year written above.

     

    
      
        	
                TECHMEDIA
      ADVERTISING MAURITIUS

              
	
                Per:

              
	 
      
	
                /s/ William Goh Han Tiang

              	 
      
	
                Authorized
      Signatory

              	 
      
	 
      	 
      
	
                William Goh Han Tiang,
    Director

              	 
      
	
                (print
      name and title)

              	 
      
	 
      	 
      
	
                PEACOCK
      MEDIA LTD.

              	 
      
	
                Per:

              	 
      
	 
      	 
      
	
                /s/ Sandeep Deepak Chawla

              	 
      
	
                Authorized
      Signatory

              	 
      
	 
      	 
      
	
                Sandeep Deepak Chawla,
    Director

              	 
      
	
                (print
      name and title)

              	 
      
	 
      	 
      
	
                TECHMEDIA
      ADVERTISING (INDIA) PRIVATE LIMITED

              
	
                Per:

              	 
      
	 
      	 
      
	
                /s/ William Goh Han Tiang

              	 
      
	
                Authorized
      Signatory

              	 
      
	 
      	 
      
	
                /s/ William Goh Han Tiang,
      Director

              	 
      
	
                (print
      name and title)

              	 
      

      

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    Schedule
“A” 

     

    This is
Schedule “A” to the Amendment and Termination Agreement between Peacock Media
Ltd., TechMedia Advertising (India) Private Limited and TechMedia Advertising
Mauritius dated June 26, 2010. 

     

    Consulting
Services Agreement

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