Document:

exhibit_10-8.htm

EXHIBIT 10.8

ASSET PURCHASE AGREEMENT

 

THIS ASSET PURCHASE AGREEMENT, dated as of April 4, 2007 (this "Agreement"), is made
by and among My Screen Mobile, Inc., a Delaware corporation ("Buyer") and Gino Porco ("Seller").

 

RECITALS

 

WHEREAS, Seller owns all technology, intellectual property (the "Technology") and
assets related to certain mobile telephone advertising technology known as myscreen (the "Business");

 

WHEREAS, Buyer is interested in acquiring from Seller, and Seller is interested in selling to Buyer,
the Business and all of its associated assets;

 

NOW, THEREFORE, in consideration of the mutual covenants and promises contained herein and for other good and valuable consideration the receipt
and adequacy of which is hereby acknowledged, the parties hereto agree as follows:

 

AGREEMENT

 

1. Purchase and Sale of Purchased Assets.

 

1.1.             Purchase Price. In exchange for the Purchased Assets (as defined below), Buyer shall transfer Seller 10,000,000
shares of Buyer's common stock.

 

1.2.             Purchased Assets. Buyer hereby purchases, and Seller hereby sells, conveys, assigns, transfers and delivers
to Buyer, free and clear of all indebtedness and Encumbrances (as defined below), all of the rights of Seller in and to the following (collectively, the "Purchased Assets"):

 

(a)           all rights in and to the website known as www.myscreen.com (the "Website"), and
any related websites and domain names;

 

(b)           all software, source code, object code, stored data, computer equipment, communication equipment, peripherals
and other accessories, telephone numbers, technical information, any other technology, and all documentation related to any of the foregoing, used in connection with the Business, including, but not limited to, the items listed on Exhibit A (the "Technology");

 

(c)           all patents, trademarks, service marks, logos, trade or brand names, fictitious
business names, copyrights, any applications for any of the foregoing, any license rights with respect to any of the foregoing, and all other intellectual property rights, which relate to or are otherwise used in connection with the Business, including, but not limited to, the items listed on Exhibit A (the "Intellectual
Property Rights");

 

(d)          all trade secrets, know-how (including, without limitation, proprietary know-how and use and application know-how) engineering and other drawings, secret processes and procedures, marketing, promotional and sales materials, business records, subscriber lists, supplier
lists, sales and marketing data, marketing reports, mailing lists, and other materials and data, related to, or used in connection with the Business;

 

(e)           the benefits under all agreements with vendors, customers and other third parties, used in connection with the Business;

	
 

 

  

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(f)           all assignable claims, deposits, prepayments, product warranties, product guarantees, refunds, causes of action, rights of recovery, rights of set-off and rights of recoupment, indemnification
and similar rights against the manufacturers and suppliers of any of the Purchased Assets, or against any other party, of any kind or nature;

 

(g)          all transferable licenses required to conduct the Business; and

 

(h)          all goodwill related to the Business, and any other assets of any nature, tangible or intangible, used in connection with the operation of the Business.

 

1.3.            Assumed Liabilities. Buyer shall not assume, pay, perform, defend or discharge, and shall in no event be liable for,
and Seller shall solely retain, pay, perform, defend and discharge, and shall retain sole liability for, all costs, losses, liabilities, damages. lawsuits, deficiencies, claims, expenses, debts, demands, guarantees or other obligations of Seller, whether fixed or contingent, known or unknown, liquidated or unliquidated, secured or unsecured, related to the Business or otherwise; provided, Buyer shall assume liabilities related to the Purchased Assets and the Business that arise after the Closing.

 

2. Representations and Warranties of Seller. Seller hereby represents and warrants to Buyer that:

 

2.1.            Authorization. Seller has the requisite power and authority to enter into this Agreement, to perform his obligations
hereunder, and to consummate the ransactions contemplated hereby. This Agreement has been duly executed and delivered by Seller, and constitutes a legal, valid and binding obligation enforceable against Seller in accordance with its terms.

 

2.2.              No Conflict or Violation. Neither the execution and delivery of this Agreement by Seller, nor the consummation
of the transactions contemplated hereby, nor compliance by Seller with any of the provisions hereof, nor Buyer's use of the Purchased Assets or operation of the Business will (a) violate, conflict with, result in a default under, termination of, or breach of, any contract, permit, authorization or concession which affects the Purchased Assets or the Business, (b) result in the creation of any lien, security interest, mortgage, adverse claim, restriction, or third party right, of any kind (an "Encumbrance(s)") on
the Purchased Assets or the Business, or (c) violate any statute, law, ordinance, regulation, rule, decree or order of any government entity.

 

2.3.             Litigation. There is no, nor has Seller been threatened with. any action, suit, investigation or proceeding
by, against, involving or relating to any of the Purchased Assets or the Business, before any federal, state, municipal or other governmental entity or before any other third party, which could effect the transactions contemplated by this Agreement or have an adverse effect on the Purchased Assets, the Business or Buyer, nor has Seller any reason to believe any of the foregoing will occur. There is no outstanding judgment, decree, court order, garnishment, attachment or writ issued with reference to any of the
Purchased Assets or the Business, nor does Seller have reason to believe any of the foregoing exists or will occur.

 

2.4.             Government Authorization; Compliance with Law. Seller has obtained, and at all relative times has maintained,
each federal, state, county, local or foreign governmental consent, license, permit, grant, or other governmental authorization that is required for the operation of the Business and use of the Purchased Assets, except where such failure to obtain or maintain would not have an adverse effect on Buyer, the Business or the Purchased Assets, and all of such are in full force and effect.

	
 

 

  

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2.5.             Title and Condition of the Purchased Assets; Absence of Undisclosed Liabilities. Seller has good and marketable
title to, and all rights and interests in and to, all of the Purchased Assets, and is in possession of the Purchased Assets, and has the absolute rit2ht to transfer the Purchased Assets and the Business free and clear of any Encumbrances, liabilities, damages, lawsuits, deficiencies, claims, debts or other obligations. There is no indebtedness, liability or obligation of any nature, or commitment of any nature (whether accrued, absolute, contingent or otherwise and whether matured or unmatured), due or to become
due with respect to the Purchased Assets or the Business.

 

2.6.             Books. Records and Financial Statements. The books and records related to the Purchased Assets and the Business
to which access was given Buyer prior to the date hereof accurately and fairly reflect, in all material respects, the activities, transactions, revenues and expenses related to the Business and the Purchased Assets.

 

2.7.             Sufficiency of Purchased Assets. The Purchased Assets constitute all the assets used in operating the Business,
and, except to the extent caused by the actions (or inaction) of Buyer following the Closing, will enable Buyer to operate the Business after the Closing in the same manner as operated by Seller prior to the Closing. There is no agreement (non-compete or otherwise) between Seller and any third party, or any commitment that Seller has to any third party, or any judgment, injunction, order or decree which is binding upon Seller or the Purchased Assets, which has or reasonably could be expected to have the effect
of prohibiting or impairing the conduct of the Business, or the use of the Purchased Assets, by Buyer.

 

2.8.             Intellectual Property. All Technology and Intellectual Property Rights (collectively, "Intellectual
Property") are held by Seller, and upon the Closing, shall be held by Buyer, without any conflict with or infringement of the valid rights of others. Seller has not received any notice of infringement upon or conflict with the asserted rights of others. Seller has the right, and after the Closing, Buyer shall have the right, to use such Intellectual Property free and clear of any rights of others. Seller has not disclosed any proprietary information
which it uses in the operation of the Business, other than to employees and consultants of Seller, who have all executed and are bound by appropriate non­disclosure agreements. In addition, Seller is not contractually obligated to pay any compensation to any third party with respect to any Intellectual Property, whether for the use, license, conveyance thereof, for any service which resulted in the creation thereof, or otherwise.

 

2.9.            Tax Matters. Seller has, and as of the Closing, or within 30 days thereafter, shall have, duly and timely filed
all material tax returns, reports, information returns and any other document with respect to Taxes (collectively, "Tax Returns") required to be filed at
or prior to the Closing, and such Tax Returns are, and shall be, true and correct in all material respects, and Seller has, and prior to the Closing shall have, paid in full, or made adequate provision in the Financial Statements (as defined below) for all Taxes (as defined below) shown to be due on such Tax Returns. As of the date hereof (i) Seller has not requested any extension of time within which to file any Tax Returns in
respect of any fiscal year which have not since been filed and 110 request for waivers of the time to assess any Taxes are pending or outstanding, (ii) no claim for Taxes has become an Encumbrance against the property of Seller or is being asserted against Seller, and (iii) no audit of any Tax Return of Seller is being conducted by a Tax authority. Seller has not been nor will be required to include any adjustment in taxable income
for any Tax period (or portion thereof) pursuant to Section 481 or 263A of the United States Tax Code (the "Code") or any comparable provision under state or foreign Tax laws as a result of transactions, events or accounting methods employed prior to the Closing. For the purposes of this Agreement, "Tax" or "Taxes" means
all taxes, charges, fees, levies, penalties or other assessments imposed by any federal, state, local or foreign taxing authority, including, but not limited to, any interest, penalties or additions attributable thereto.

	
 

  

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2.17.           Brokers and Finders. Seller has not engaged any broker, finder or similar agent or
incurred any other liability for any brokerage fees, commissions. finder's fees or similar payments in connection with the transactions contemplated by this Agreement.

 

2.18.           Representations and Warranties Complete. None of the representations
or warranties made by Seller herein contains any untrue statement of a material fact, or omits to state any material fact necessary in order to make the statements contained herein, in the light of the circumstances under which made, not misleading.

 

3.  Representations and Warranties of Buyer. Buyer
hereby represents and warrants to Seller that:

 

3.1.            Organization. Buyer is a corporation duly organized, existing, and in good standing
under the laws of Delaware. The execution and delivery of this Agreement and the consummation of the transactions contemplated by this Agreement by Buyer have been duly authorized, and no further corporate authorization is necessary on the part of Buyer.

 

3.2.            Consents. No consent, approval, or authorization of, or declaration, filing, or registration
with, any United States federal or state governmental or regulatory authority is required to be made or obtained by Buyer in connection with the execution, delivery, and performance of this Agreement, except as otherwise required in connection with the issuance of shares of common stock to Seller as set forth above.

 

3.3.            Representations and Warranties Complete. None of
the representations or warranties made by Buyer herein, contains or will contain as of the Closing, any untrue statement of a material fact, or omits or will omit as of the Closing, to state any material fact necessary in order to make the statements contained herein, in the light of the circumstances under which made, not misleading.

 

4.  Closing. The
sale of the Purchased Assets shall close upon the execution of a Development Agreement for the Technology between Buyer and Envenia Networks, Inc., an affiliate of Seller, in substantially the form attached hereto as Exhibit B (the
"Closing").

 

5.  Additional Covenants.

 

5.1.            General Assistance. To facilitate the orderly transfer of the Purchased Assets, Seller
shall cooperate with and assist Buyer, and use his best efforts to obtain all necessary approvals and consents for the transactions contemplated hereby. and otherwise use his best efforts to transfer to Buyer all of Seller's right, title and interest in and to the Purchased Assets and the exclusive rights to use the Purchased Assets.

 

5.2.            Affirmative Covenants.

 

  (a)            Covenant Not to Compete. As partial consideration for the purchase price,
neither Seller nor any of his Affiliated Entities (as defined below), shall for a period of five (5) years following the Closing, anywhere in the world, directly or indirectly, own, manage, operate, join, control or participate in the ownership, management, operation or control of any business which competes with the Business. The term "Affiliates" as
used in this Agreement means a party's Affiliated Entities (as defined below), and any representatives, agents, officers, employees, shareholders, directors, trustees, partners, members and managers of such party or of such party's Affiliated Entities, and each of their respective successors and assigns. The term "Affiliated Entities" as
used in this Agreement means any person or entity which, directly or indirectly, through one or more intermediaries, controls or is controlled by or is under common control with the applicable party. The term "controls" as used herein (including the terms "controls," "controlled
by" and "under common control with") means the possession, direct or indirect, of the power to vote, or direct the vote of, fifty percent (50%) or more of the outstanding voting securities of a person or entity.

 

	 

  

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(a)           Confidentiality. Seller acknowledges that it will have access to certain Confidential Information (as defined below) of Buyer, and agrees that neither he nor his Affiliated Entities, will not use
for his own account or the account of any third party (except as required by law), or disclose to any third party, any of Buyer's Confidential Information, and will take reasonable precautions to protect the confidentiality of such information. "Confidential Information" includes information about all Intellectual Property, trade secrets, business plans, product offerings, technical specifications, source code, strategies, methods and/or practices, and any
other information relating to the other party, which is not generally known to the public. Seller acknowledges Buyer other party shall suffer irreparable injury not compensable by money damages in the event of an unauthorized use or disclosure of its Confidential Information, and therefore, agrees that Buyer shall be entitled, in addition to any other available remedy at law or equity, to injunctive relief to prevent or cm-tail
any such use or disclosure, threatened or actual, without the necessity of posting a bond.

 

(b)           Scope. Seller acknowledges that a breach of the covenants contained in this Section 5.2 will cause irreparable damage to Buyer, the exact amount of which will be difficult to ascertain, and that the
remedies at law for any such breach will be inadequate. Accordingly, Seller agrees that if the covenants contained in this Section are breached, in addition to any other remedy which may be available at law or in equity, Buyer shall be entitled to specific performance and injunctive relief, without, in the event of a final judgment, posting a bond or other security. In the event any of the covenants in this Section shall be determined by any court of competent jurisdiction to be unenforceable by reason of its
extending for too great a period of time, or over too great a geographical area, or by reason of it being too extensive in any other respect, it shall be interpreted to extend only over the maximum period of time for which it may be enforceable. and/or over the maximum geographical area as to which it may be enforceable and/or to the maximum extent in all other respects as to which it may be enforceable, all as determined by such court in such action.

 

6.      Indemnification. Subject to the survival provisions set forth below, Seller hereby agrees to indemnify, defend and hold harmless Buyer and its Affiliates
from and against any and all costs, losses, liabilities, damages, lawsuits, deficiencies, claims and expenses, including without limitation. interest, penalties, reasonable attorneys' fees and all amounts paid in investigation, defense or settlement of any of the foregoing (collectively, "Damages"), incurred in connection with, arising out of, resulting from or incident to any breach of any representation or warranty made by Seller in this Agreement, or
any claim by any person brought against Buyer and/or any of its Affiliates related to, in connection with or arising from the operation of the Business or use of the Purchased Assets prior to the Closing. Subject to the survival provisions set forth below, Buyer hereby agrees to indemnify, defend and hold harmless Seller and his Affiliates, from and against any and all Damages incurred in connection with the operation of the Business or use of the Purchased Assets following the Closing.

 

7.   Miscellaneous.

 

7.1.            Survival. The representations and warranties of the parties set forth in this Agreement shall survive for a period
of five (5) years after the date hereof.

	 

  

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7.2.            Severability. Every provision of this Agreement is intended to be severable. If any term or provision hereof is
declared by a court of competent jurisdiction to be illegal or invalid, such illegal or invalid term or provision shall not affect the balance of the terms and provisions hereof, which terms and provisions shall remain binding and enforceable.

 

7.3.            Notice. Any notice or communication required to be given hereunder may be delivered by hand, deposited with
an overnight courier, sent by confirmed facsimile, or mailed by registered or certified mail (return receipt requested), to the parties at their respective addresses listed on the signature page hereto (or at such other address for a party as shall be specified by like notice). Notice shall be deemed given and received on the date sent if sent by facsimile or personal delivery; three days after the date sent if sent by registered or certified mail; and one day after the date sent if sent by overnight courier.

 

7.4.            Modification: Entire Agreement. This Agreement constitutes the entire agreement among the parties with respect to
the subject matter hereof and supersedes all prior agreements and understandings, both written and oral, among the parties with respect to the subject matter hereof. This Agreement may be modified only by a writing signed by both parties.

 

7.5.            Governing Law., Attorneys' Fees. This Agreement shall be governed by and construed in accordance with the laws of
the State of Delaware, without giving effect to its principles regarding conflicts of law. The parties hereby agree that any service of process may be affected on such party by delivering such process by hand, depositing it with an overnight courier, or mailing it by registered or certified mail to such party. Upon default, the breaching party agrees to pay to the non-breaching party reasonable attorneys' fees, plus all other reasonable expenses. incurred by the non-breaching party in exercising any of the non-breaching
party's rights  and remedies.

 

7.6.            Successors and Assigns. This Agreement shall be binding, upon and inure to the benefit of the parties hereto and
their respective successors and assigns.

 

7.7.            Waiver. Either party's failure to enforce any provision or provisions of this Agreement shall not in any way be
construed as a waiver of any such provision or provisions, nor prevent that party thereafter from enforcing each and every other provision of this Agreement. The rights granted to both parties herein are cumulative and shall not constitute a waiver of either party's right to assert all other legal remedies available to it under the circumstances.

 

7.8.            Independent Advice of Counsel. Buyer and Sellers each acknowledge that they
have been represented by independent legal counsel in connection with this Agreement and have consulted with such legal counsel.

 

7.9.            Counterparts and Facsimile Signatures. The parties may execute this Agreement in two or more counterparts, which
shall. in the aggregate, be deemed signed by all of the parties. Each counterpart shall be deemed an original instrument as against any party who signed it. A facsimile signature by any party shall be acceptable and shall result in this Agreement being valid and enforceable against such party.

 

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

	 

  

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“Seller”
	  	
“Buyer”

	  	  	  
	
/s/  Gino Porco                                   
	 	
MyScreen Mobile, Inc.

	
Gino Porco
	  	  
	  	  	
/s/  T. Rodrigues                                      

	
Address: 81 Chartwell Rd.               
	  	
Print Name: Terrence Rodrigues           

	
                  Toronto, Ontario             
	  	
Print Title: CEO                                        

	  	  	  
	
Fax:_______________________
	  	
136 Yorkville Avenue, Suite 300

	  	  	
Toronto, ON, Canada M5R 3C6

	  	  	
Fax: _________________________

 

 

 

 

 

 

 

 7 of 7Shuaiyi International New Resources Development Inc.: Exhibit 4.1 -
   Prepared by TNT Filings Inc.

Exhibit 4.1

NEITHER THESE SECURITIES NOR THE SECURITIES ISSUABLE UPON
EXERCISE OF THESE SECURITIES HAVE BEEN REGISTERED WITH THE SECURITIES AND
EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON
AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
"SECURITIES ACT"), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT
TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO
AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE
REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH
APPLICABLE STATE SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL TO
THE TRANSFEROR TO SUCH EFFECT, THE SUBSTANCE OF WHICH SHALL BE REASONABLY
ACCEPTABLE TO THE COMPANY. THESE SECURITIES AND THE SECURITIES ISSUABLE UPON
EXERCISE OF THESE SECURITIES MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE
MARGIN ACCOUNT SECURED BY SUCH SECURITIES.

SHUAIYI INTERNATIONAL NEW RESOURCES DEVELOPMENT INC.

SERIES A COMMON STOCK PURCHASE WARRANT

	Warrant No. [ ]	
     Original Issue Date: December
      17, 2009

Shuaiyi International New Resources Development Inc., a
Nevada corporation (the “Company”), hereby certifies that, for value
received, ________________ or its registered assigns (the “Holder”), is
entitled to purchase from the Company up to a total of  _________ shares of
Common Stock (each such share, a “Warrant Share” and all such shares, the
“Warrant Shares”), at any time and from time to time from and after the
Original Issue Date and through and including December 16, 2012 (the
“Expiration Date”), and subject to the following terms and conditions:

1. Definitions. As used in
this Warrant, the following terms shall have the respective definitions set
forth in this Section 1. Capitalized terms that are used and not defined in this
Warrant that are defined in the Purchase Agreement (as defined below) shall have
the respective definitions set forth in the Purchase Agreement. 

“Common Stock” means the
common stock of the Company, par value $0.001 per share, and any securities into
which such common stock may hereafter be reclassified or for which it may be
exchanged as a class.

“Exercise Price” means $3.25, subject to adjustment in
accordance with Section 9.

“Fundamental Transaction”
means any of the following: (1) the Company effects any merger or consolidation
of the Company with or into another Person, (2) the Company effects any sale of
all or substantially all of its assets in one or a series of related
transactions, (3) any tender offer or exchange offer (whether by the Company or
another Person) is completed pursuant to which holders of Common Stock are
permitted to tender or exchange their shares for other securities, cash or
property, or (4) the Company effects any reclassification of the Common Stock or
any compulsory share exchange pursuant to which the Common Stock is effectively
converted into or exchanged for other securities, cash or property. 

“New York Courts” means
the state and federal courts sitting in the City of New York, Borough of
Manhattan.

“Original Issue Date”
means the Original Issue Date first set forth on the first page of this Warrant.

“Purchase Agreement” means
the Securities Purchase Agreement, dated December 17, 2009, among the Company
and the investors identified therein.

“Trading Day” means (i) a
day on which the Common Stock is traded on a Trading Market (other than the OTC
Bulletin Board), or (ii) if the Common Stock is not listed on a Trading Market
(other than the OTC Bulletin Board), a day on which the Common Stock is traded
in the over-the-counter market, as reported by the OTC Bulletin Board, or (iii)
if the Common Stock is not quoted on any Trading Market, a day on which the
Common Stock is quoted in the over-the-counter market as reported by the Pink
Sheets LLC (or any similar organization or agency succeeding to its functions of
reporting prices); provided, that in the event that the Common Stock is not
listed or quoted as set forth in (i), (ii) and (iii) hereof, then Trading Day
shall mean a Business Day. 

2. Registration of
Warrant. The Company shall register this Warrant upon records to be
maintained by the Company for that purpose (the “Warrant Register”), in
the name of the record Holder hereof from time to time. The Company may deem and
treat the registered Holder of this Warrant as the absolute owner hereof for the
purpose of any exercise hereof or any distribution to the Holder, and for all
other purposes, absent actual notice to the contrary. 

3. Registration of
Transfers. The Company shall register the transfer of any portion of this
Warrant in the Warrant Register, upon surrender of this Warrant, with the Form
of Assignment attached hereto duly completed and signed, to the Company at its
address specified herein. Upon any such registration or transfer, a new Warrant
to purchase Common Stock, in substantially the form of this Warrant (any such
new Warrant, a "New Warrant"), evidencing the portion of this Warrant so
transferred shall be issued to the transferee and a New Warrant evidencing the
remaining portion of this Warrant not so transferred, if any, shall be issued to
the transferring Holder. The acceptance of the New Warrant by the transferee
thereof shall be deemed the acceptance by such transferee of all of the rights
and obligations of a holder of a Warrant.

4. Exercise and Duration of
Warrants. This Warrant shall be exercisable by the registered Holder at any
time and from time to time on or after the Original Issue Date through and
including the Expiration Date. At 6:30 p.m., New York City time on the
Expiration Date, the portion of this Warrant not exercised prior thereto shall
be and become void and of no value.

2

The Company may not call or redeem any portion of this Warrant
without the prior written consent of the affected Holder.

5. Delivery of Warrant Shares. 

(a) The Holder shall not be
required to physically surrender this Warrant unless the aggregate Warrant
Shares represented by this Warrant are being exercised. To effect exercises
hereunder, the Holder shall duly execute and deliver to the Company at its
address for notice set forth herein (or such to such other address as the
Company may designate by notice in writing to the Holder), an Exercise Notice in
the form of Annex A hereto, along with a Warrant Shares Exercise Log in
the form of Annex B hereto, and shall pay the Exercise Price, if
applicable, multiplied by the number of Warrant Shares that the Holder intends
to purchase hereunder. The Company shall promptly (but in no event later than
three Trading Days after the Date of Exercise (as defined herein)) issue and
deliver to the Holder, a certificate for the Warrant Shares issuable upon such
exercise. The Company shall, upon request of the Holder and subsequent to the
date on which a registration statement covering the resale of the Warrant Shares
has been declared effective by the Securities and Exchange Commission, use its
reasonable best efforts to deliver Warrant Shares hereunder electronically
through the Depository Trust Corporation or another established clearing
corporation performing similar functions, if available, provided, that,
the Company may, but will not be required to change its transfer agent if its
current transfer agent cannot deliver Warrant Shares electronically through the
Depository Trust Corporation. A “Date of Exercise” for purposes of this
Warrant, means the date on which the Holder shall have delivered to the Company:
(i) the Exercise Notice (with the Warrant Exercise Log attached to it),
appropriately completed and duly signed and (ii) if such Holder is not utilizing
the cashless exercise provisions set forth in this Warrant, payment of the
Exercise Price for the number of Warrant Shares so indicated by the Holder to be
purchased. 

(b) If by the third Trading Day
after a Date of Exercise the Company fails to deliver the required number of
Warrant Shares in the manner required pursuant to Section 5(a), then the Holder
will have the right to rescind such exercise. 

(c) The Company's obligations to
issue and deliver Warrant Shares in accordance with the terms hereof are
absolute and unconditional, irrespective of any action or inaction by the Holder
to enforce the same, any waiver or consent with respect to any provision hereof,
the recovery of any judgment against any Person or any action to enforce the
same, or any setoff, counterclaim, recoupment, limitation or termination, or any
breach or alleged breach by the Holder or any other Person of any obligation to
the Company or any violation or alleged violation of law by the Holder or any
other Person, and irrespective of any other circumstance which might otherwise
limit such obligation of the Company to the Holder in connection with the
issuance of Warrant Shares. Nothing herein shall limit a Holder's right to
pursue any other remedies available to it hereunder, at law or in equity
including, without limitation, a decree of specific performance and/or
injunctive relief with respect to the Company's failure to timely deliver
certificates representing Warrant Shares upon exercise of the Warrant as
required pursuant to the terms hereof. 

6. Charges, Taxes and
Expenses. Issuance and delivery of Warrant Shares upon exercise of this
Warrant shall be made without charge to the Holder for any issue or transfer
tax, withholding tax, transfer agent fee or other incidental tax or
expense in respect of the issuance of such certificates, all of which taxes and
expenses shall be paid by the Company; provided, however, that the
Company shall not be required to pay any tax which may be payable in respect of
any transfer involved in the registration of any certificates for Warrant Shares
or Warrants in a name other than that of the Holder. The Holder shall be
responsible for all other tax liability that may arise as a result of holding or
transferring this Warrant or receiving Warrant Shares upon exercise hereof. 

3

7. Replacement of Warrant.
If this Warrant is mutilated, lost, stolen or destroyed, the Company shall issue
or cause to be issued in exchange and substitution for and upon cancellation
hereof, or in lieu of and substitution for this Warrant, a New Warrant, but only
upon receipt of evidence reasonably satisfactory to the Company of such loss,
theft or destruction and customary and reasonable indemnity (which shall not
include a surety bond), if requested. Applicants for a New Warrant under such
circumstances shall also comply with such other reasonable regulations and
procedures and pay such other reasonable third-party costs as the Company may
prescribe. If a New Warrant is requested as a result of a mutilation of this
Warrant, then the Holder shall deliver such mutilated Warrant to the Company as
a condition precedent to the Company’s obligation to issue the New Warrant. 

8. Reservation of Warrant
Shares. The Company covenants that during the term that this Warrant is
exercisable, the Company will at all times reserve and keep available out of the
aggregate of its authorized but unissued and otherwise unreserved Common Stock,
solely for the purpose of enabling it to issue Warrant Shares upon exercise of
this Warrant as herein provided, the number of Warrant Shares which are then
issuable and deliverable upon the exercise of this entire Warrant, free from
preemptive rights or any other contingent purchase rights of Persons other than
the Holder (taking into account the adjustments and restrictions of Section 9).
The Company covenants that all Warrant Shares so issuable and deliverable shall,
upon issuance and the payment of the applicable Exercise Price in accordance
with the terms hereof, be duly and validly authorized, issued and fully paid and
nonassessable. 

9. Certain Adjustments.
The Exercise Price and number of Warrant Shares issuable upon exercise of this
Warrant are subject to adjustment from time to time as set forth in this Section
9. 

(a) Stock Dividends and
Splits. If the Company, at any time while this Warrant is outstanding, (i)
pays a stock dividend on its Common Stock or otherwise makes a distribution on
any class of capital stock that is payable in shares of Common Stock, (ii)
subdivides outstanding shares of Common Stock into a larger number of shares, or
(iii) combines outstanding shares of Common Stock into a smaller number of
shares, then in each such case the Exercise Price shall be multiplied by a
fraction of which the numerator shall be the number of shares of Common Stock
outstanding immediately before such event and of which the denominator shall be
the number of shares of Common Stock outstanding immediately after such event.
Any adjustment made pursuant to clause (i) of this paragraph shall become
effective immediately after the record date for the determination of
stockholders entitled to receive such dividend or distribution, and any
adjustment pursuant to clause (ii) or (iii) of this paragraph shall become
effective immediately after the effective date of such subdivision or
combination. 

4

(b) Fundamental
Transactions. If, at any time while this Warrant is outstanding there is a
Fundamental Transaction, then the Holder shall have the right thereafter to
receive, upon exercise of this Warrant, the same amount and kind of securities,
cash or property as it would have been entitled to receive upon the occurrence
of such Fundamental Transaction if it had been, immediately prior to such
Fundamental Transaction, the holder of the number of Warrant Shares then
issuable upon exercise in full of this Warrant (the “Alternate
Consideration”). For purposes of any such exercise, the determination of the
Exercise Price shall be appropriately adjusted to apply to such Alternate
Consideration based on the amount of Alternate Consideration issuable in respect
of one share of Common Stock in such Fundamental Transaction, and the Company
shall apportion the Exercise Price among the Alternate Consideration in a
reasonable manner reflecting the relative value of any different components of
the Alternate Consideration. If holders of Common Stock are given any choice as
to the securities, cash or property to be received in a Fundamental Transaction,
then the Holder shall be given the same choice as to the Alternate Consideration
it receives upon any exercise of this Warrant following such Fundamental
Transaction. At the Holder's option and request, any successor to the Company or
surviving entity in such Fundamental Transaction shall issue to the Holder a new
warrant substantially in the form of this Warrant and consistent with the
foregoing provisions and evidencing the Holder's right to purchase the Alternate
Consideration for the aggregate Exercise Price upon exercise thereof. The terms
of any agreement pursuant to which a Fundamental Transaction is effected shall
include terms requiring any such successor or surviving entity to comply with
the provisions of this paragraph (b) and insuring that the Warrant (or any such
replacement security) will be similarly adjusted upon any subsequent transaction
analogous to a Fundamental Transaction. 

(c) Number of Warrant
Shares. Simultaneously with any adjustment to the Exercise Price pursuant to
this Section 9, the number of Warrant Shares that may be purchased upon exercise
of this Warrant shall be increased or decreased proportionately, so that after
such adjustment the aggregate Exercise Price payable hereunder for the adjusted
number of Warrant Shares shall be the same as the aggregate Exercise Price in
effect immediately prior to such adjustment. 

(d) Calculations. All
calculations under this Section 9 shall be made to the nearest cent or the
nearest 1/100th of a share, as applicable. The number of shares of
Common Stock outstanding at any given time shall not include shares owned or
held by or for the account of the Company, and the disposition of any such
shares shall be considered an issue or sale of Common Stock. 

(e) Notice of Adjustments.
Upon the occurrence of each adjustment pursuant to this Section 9, the Company
at its expense will promptly compute such adjustment in accordance with the
terms of this Warrant and prepare a certificate setting forth such adjustment,
including a statement of the adjusted Exercise Price and adjusted number or type
of Warrant Shares or other securities issuable upon exercise of this Warrant (as
applicable), describing the transactions giving rise to such adjustments and
showing in detail the facts upon which such adjustment is based. Upon written
request, the Company will promptly deliver a copy of each such certificate to
the Holder and to the Company's Transfer Agent. 

5

(f) Notice of Corporate
Events. If the Company (i) declares a dividend or any other distribution of
cash, securities or other property in respect of its Common Stock, including
without limitation any granting of rights or warrants to subscribe for or
purchase any capital stock of the Company or any Subsidiary, except for grants
of options to management (ii) authorizes or approves, enters into any agreement
contemplating or solicits stockholder approval for any Fundamental Transaction
or (iii) authorizes the voluntary dissolution, liquidation or winding up of the
affairs of the Company, then the Company shall deliver to the Holder a notice
describing the material terms and conditions of such transaction (but only to
the extent such disclosure would not result in the dissemination of material,
non-public information to the Holder) at least 10 calendar days prior to the
applicable record or effective date on which a Person would need to hold Common
Stock in order to participate in or vote with respect to such transaction, and
the Company will take all steps reasonably necessary in order to insure that the
Holder is given the practical opportunity to exercise this Warrant prior to such
time so as to participate in or vote with respect to such transaction; provided,
however, that the failure to deliver such notice or any defect therein shall not
affect the validity of the corporate action required to be described in such
notice. 

10. Payment of Exercise
Price. The Holder may pay the Exercise Price in one of the following
manners: 

(a) Cash Exercise. The Holder may deliver immediately
available funds; or 

(b) Cashless Exercise. If
an Exercise Notice is delivered at a time when a registration statement
permitting the Holder to resell the Warrant Shares is not then effective or the
prospectus forming a part thereof is not then available to the Holder for the
resale of the Warrant Shares, then the Holder may notify the Company in an
Exercise Notice of its election to utilize cashless exercise, in which event the
Company shall issue to the Holder the number of Warrant Shares determined as
follows: 

X = Y [(A-B)/A]

where:

X = the number of Warrant Shares to be issued to the Holder.

Y = the number of Warrant Shares with respect to which this
Warrant is being exercised. 

A = the average of the closing prices for the five Trading Days
immediately prior to (but not including) the Date of Exercise. 

B = the Exercise Price.

For purposes of Rule 144 promulgated under the Securities Act,
it is intended, understood and acknowledged that the Warrant Shares issued in a
cashless exercise transaction shall be deemed to have been acquired by the
Holder, and the holding period for the Warrant Shares shall be deemed to have
commenced, on the date this Warrant was originally issued. 

6

11. Limitations on
Exercise. Notwithstanding anything to the contrary contained herein, the
number of Warrant Shares that may be acquired by the Holder upon any exercise of
this Warrant (or otherwise in respect hereof) shall be limited to the extent
necessary to insure that, following such exercise (or other issuance), the total
number of shares of Common Stock then beneficially owned by such Holder and its
Affiliates and any other Persons whose beneficial ownership of Common Stock
would be aggregated with the Holder's for purposes of Section 13(d) of the
Exchange Act, does not exceed 9.99% of the total number of issued and
outstanding shares of Common Stock (including for such purpose the shares of
Common Stock issuable upon such exercise). For such purposes, beneficial
ownership shall be determined in accordance with Section 13(d) of the Exchange
Act and the rules and regulations promulgated thereunder. This provision shall
not restrict the number of shares of Common Stock which a Holder may receive or
beneficially own in order to determine the amount of securities or other
consideration that such Holder may receive in the event of a Fundamental
Transaction as contemplated in Section 9 of this Warrant. This restriction may
not be waived, and notwithstanding anything to the contrary in any Transaction
Document, may not be amended by agreement of the parties. Notwithstanding
anything to the contrary contained in this Warrant or in any other Transaction
Document, (a) no term of this Section may be waived by any party, nor amended
such that the threshold percentage of ownership would be directly or indirectly
increased, (b) no amendment or modification to any Transaction Document may be
made such that it would have the effect of modifying or waiving any term of this
Section in violation of this restriction, (c) this restriction runs with the
Warrant and may not be modified or waived by any subsequent holder hereof and
(d) any attempted waiver, modification or amendment of this Section will be
void ab initio. 

12. No Fractional Shares.
No fractional shares of Warrant Shares will be issued in connection with any
exercise of this Warrant. In lieu of any fractional shares which would,
otherwise be issuable, the Company shall pay cash equal to the product of such
fraction multiplied by the closing price of one Warrant Share as reported by the
applicable Trading Market on the date of exercise. 

13. Notices. Any and all
notices or other communications or deliveries hereunder (including, without
limitation, any Exercise Notice) shall be in writing and shall be deemed given
and effective on the earliest of (i) the date of transmission, if such notice or
communication is delivered via facsimile at the facsimile number specified in
this Section prior to 6:30 p.m. (New York City time) on a Trading Day, (ii) the
next Trading Day after the date of transmission, if such notice or communication
is delivered via facsimile at the facsimile number specified in this Section on
a day that is not a Trading Day or later than 6:30 p.m. (New York City time) on
any Trading Day, (iii) the second Trading Day following the date of mailing, if
sent by nationally recognized overnight courier service, or (iv) upon actual
receipt by the party to whom such notice is required to be given. The addresses
for such communications shall be: (i) if to the Company, to Shuaiyi
International New Resources Development Inc., Attn: President, or to Facsimile
No. (86) 451-82287746 (or to such other address as the Company shall indicate in
writing in accordance with this Section), with a copy to Qixiang Sun, Esq.,
Pillsbury Winthrop Shaw Pittman LLP, 2300 N Street, N.W., Washington, DC 20037,
facsimile no.: (202) 663-8007, or (ii) if to the Holder, to the address or
facsimile number appearing on the Warrant Register or such other address or
facsimile number as the Holder may provide to the Company in accordance with
this Section. 

7

14. Warrant Agent. The
Company shall serve as warrant agent under this Warrant. Upon 10 days' notice to
the Holder, the Company may appoint a new warrant agent. Any corporation into
which the Company or any new warrant agent may be merged or any corporation
resulting from any consolidation to which the Company or any new warrant agent
shall be a party or any corporation to which the Company or any new warrant
agent transfers substantially all of its corporate trust or shareholders
services business shall be a successor warrant agent under this Warrant without
any further act. Any such successor warrant agent shall promptly cause notice of
its succession as warrant agent to be mailed (by first class mail, postage
prepaid) to the Holder at the Holder's last address as shown on the Warrant
Register. 

15. Miscellaneous. 

(a) This Warrant shall be binding on and inure to the benefit
of the parties hereto and their respective successors and assigns. Subject to
the preceding sentence, nothing in this Warrant shall be construed to give to
any Person other than the Company and the Holder any legal or equitable right,
remedy or cause of action under this Warrant. This Warrant may be amended only
in writing signed by the Company and the Holder and their successors and
assigns.

(b) All questions concerning the
construction, validity, enforcement and interpretation of this Warrant shall be
governed by and construed and enforced in accordance with the internal laws of
the State of New York (except for matters governed by corporate law in the State
of Nevada), without regard to the principles of conflicts of law thereof. Each
party agrees that all legal proceedings concerning the interpretations,
enforcement and defense of this Warrant and the transactions herein contemplated
(“Proceedings”) (whether brought against a party hereto or its respective
Affiliates, employees or agents) shall be commenced exclusively in the New York
Courts. Each party hereto hereby irrevocably submits to the exclusive
jurisdiction of the New York Courts for the adjudication of any dispute
hereunder or in connection herewith or with any transaction contemplated hereby
or discussed herein, and hereby irrevocably waives, and agrees not to assert in
any Proceeding, any claim that it is not personally subject to the jurisdiction
of any New York Court, or that such Proceeding has been commenced in an improper
or inconvenient forum. Each party hereto hereby irrevocably waives personal
service of process and consents to process being served in any such Proceeding
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 Warrant 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 manner permitted
by law. Each party hereto hereby irrevocably waives, to the fullest extent
permitted by applicable law, any and all right to trial by jury in any legal
proceeding arising out of or relating to this Warrant or the transactions
contemplated hereby. If either party shall commence a Proceeding to enforce any
provisions of this Warrant, then the prevailing party in such Proceeding shall
be reimbursed by the other party for its attorney’s fees and other costs and
expenses incurred with the investigation, preparation and prosecution of such
Proceeding. 

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

8

(d) In case any one or more of
the provisions of this Warrant shall be invalid or unenforceable in any respect,
the validity and enforceability of the remaining terms and provisions of this
Warrant shall not in any way be affected or impaired thereby and the parties
will attempt in good faith to agree upon a valid and enforceable provision which
shall be a commercially reasonable substitute therefor, and upon so agreeing,
shall incorporate such substitute provision in this Warrant. 

(e) Prior to exercise of this
Warrant, the Holder hereof shall not, by reason of being a Holder, be entitled
to any rights of a stockholder with respect to the Warrant Shares. 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK, 
SIGNATURE PAGE
FOLLOWS] 

9

IN WITNESS WHEREOF, the Company
has caused this Warrant to be duly executed by its authorized officer as of the
date first indicated above. 

SHUAIYI INTERNATIONAL NEW RESOURCES DEVELOPMENT INC.

 

	 	By:________________________

      Name: Lianyun Han 
      Title: President and Chief
      Executive Officer

ANNEX A

EXERCISE NOTICE 

SHUAIYI INTERNATIONAL NEW RESOURCES DEVELOPMENT INC. 
SERIES
A WARRANT DATED DECEMBER 17, 2009 

The undersigned Holder hereby irrevocably elects to purchase
_____________ shares of Common Stock pursuant to the above referenced Warrant.
Capitalized terms used herein and not otherwise defined have the respective
meanings set forth in the Warrant. 

(1) The undersigned Holder hereby exercises its right to
purchase _________________ Warrant Shares pursuant to the Warrant. 

(2) The Holder intends that payment of the Exercise Price shall
be made as (check one): 

____ “Cash Exercise” under Section
10 

____ “Cashless Exercise” under
Section 10 

(3) If the holder has elected a Cash Exercise, the holder shall
pay the sum of $ ____________ to the Company in accordance with the terms of the
Warrant. 

(4) Pursuant to this Exercise Notice, the Company shall deliver
to the holder _______________ Warrant Shares in accordance with the terms
of the Warrant. 

(5) By its delivery of this Exercise Notice, the undersigned
represents and warrants to the Company that in giving effect to the exercise
evidenced hereby the Holder will not beneficially own in excess of the number of
shares of Common Stock (determined in accordance with Section 13(d) of the
Securities Exchange Act of 1934) permitted to be owned under Section 11 of this
Warrant to which this notice relates. 

	Dated:____________, ______

 

	
       	
      Name of Holder:

      (Print)_________________

      By: ___________________ 
Name:_________________
Title:__________________
       

      (Signature must conform in all respects to name of holder as
      specified on the face of the Warrant) 

11

ANNEX B 

Warrant Shares Exercise Log

	
      Date 
	Number of Warrant 	Number of Warrant Shares 	Number of 
	  	Shares Available to be 	Exercised 	Warrant Shares 
	  	Exercised 	  	Remaining to 
	  	  	  	be Exercised 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 

 

12

ANNEX C

SHUAIYI INTERNATIONAL NEW RESOURCES DEVELOPMENT INC. 
SERIES
A WARRANT ORIGINALLY ISSUED DECEMBER 17, 2009 
WARRANT NO. [·] 

FORM OF ASSIGNMENT

[To be completed and signed only upon transfer of Warrant]

FOR VALUE RECEIVED, the
undersigned hereby sells, assigns and transfers unto
________________________________ the right represented by the above-captioned
Warrant to purchase ____________ shares of Common Stock to which such Warrant
relates and appoints ________________ attorney to transfer said right on the
books of the Company with full power of substitution in the premises. 

Dated: _______________, ____

	 	
      _______________________________________
(Signature
      must conform in all respects to name of holder as specified on the face of
      the Warrant)  

      _______________________________________
Address of Transferee
      

 

In the presence of:

_______________________

13

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