Document:

Jinhao Motor Company: Exhibit 10.11 - Filed by newsfilecorp.com

Exhibit 10.11 
(English Translation) 

Research and Development of Electric Vehicle Core Technology
Agreement 

Party A: Guangdong Jinhao Motorcycle Company Limited 
Party
B: Dongguan Xinkong Electronic Technology Co., Ltd. 

Both parties reached the following agreement for Party A to
engage Party B for research and development of the electric vehicle core
technology. 

I. Name of the technology 

01/ Permanent magnetism brushless direct current electric motor

02/ Inter-change signal-transmission alternating current power amplifier

03/ Permanent magnetism brushless four-quadrant direct current electric
motor 
04/ Transmission gear box 

II. Ownership of the Intellectual Property 

01/ The ownership and use right of the research result (or the
patent technology) shall be exclusively belongs to Party A. 

02/ Without consent from Party A, that Party B shall not
disclosure all the research and development process, result and related
information and material to any third party. 

III. Commitment of research and development expenses 

01/ For the full expenses of the whole research and development
process shall be budgeted within the limited of RMB 200,000,000.00. 

02/ Party A shall be responded for the full amount of expenses
for the research and development process. Research and development expenses
included purchase of equipments, salary of manpower, rent for space and other
related expenses.

03/ Due to the needs of research and development, Party B is
authorized to purchase equipment directly from the supplier when necessary, and,
shall provide the Supplier’s official invoice and receipt for record. 

04/ The whole research & development process shall be
comply with high efficiency and low cost, with tie control of all the expenses.

IV. Payment arrangement 

Party A agreed to committee partial research and development
expenses in advance payment. After Party B complete the necessary research and
development process and receive the Chinese national patent, Party A will pay
for the outstanding balance. 

Exhibit 10.11 
(English Translation) 

V. For any other business, both Party A and Party B agreed to
further discussion. 

VI. This agreement is combined with one set and two copies.
Both party hold one copy and it is legally enforcement. 

Signed and Chopped by 

	Party A 	Party B 
	Guangdong Jinhao 	Dongguan Xinkong 
	Motorcycle Company Limited 	Electronic Technology Co., Ltd. 
	Date: August 6, 2005 	Date: August 6, 2005Jinhao Motor Company: Exhibit 10.12 - Filed by newsfilecorp.com

Exhibit 10.12 
(English Translation) 

TECHNOLOGY LICENSE CONTRACT 

This contract (the “Contract”) is entered by and between
the following two parties on July 23, 2010 in Zhaoqing City, Guangdong Province,
China: 

Licensor: Lin Xiangzhong (the “Licensor”) 
Licensee:
Guangdong Jinhao Motorcycle Company Limited (the “Licensee”) 

Whereas, the Licensor is the legal owner of a new type
permanent magnetism brushless four-quadrant direct current electric motor
technology and the Licensee is the investor of all expenses of the research and
development of product and technology of a new type Permanent magnetism
brushless four-quadrant direct current electric motor; 

Whereas, the Licensor has right and is willing to license the
Licensee to manufacture, use, sell, promise to sell and import a new type
permanent magnetism brushless four-quadrant direct current electric motor and
use the technology of a new type permanent magnetism brushless four-quadrant
direct current electric motor; 

Whereas, the Licensee may use the Technology to manufacture and
sell Patent Product (as defined below); 

The parties through friendly consultation and reach the
following agreement subject to the terms and conditions hereto: 

Article 1. Definitions  

1.1 “Patent Product” means the new type permanent magnetism
brushless four-quadrant direct current electric motor as specified in the
attachment one of this Contract; such product has been certified as utility
model patent (the “Patent”) by State Intellectual Property Office of the PRC with the
patent No. of 200610020086.X 

Exhibit 10.12 
(English Translation) 

1.2 “Technology” means the technology to produce the Patent
Product. 

Article 2. The Contract scope  

2.1 The Licensor agrees to license the Licensee to manufacture,
use, sell, promise to sell and import Patent Product and the Licensee agrees to
obtain license from the Licensor to o manufacture, use, sell, promise to sell
and import Patent Product. 

2.2 The Licensor agrees to license the Licensee to use the
Technology and the Licensee agrees to obtain license from the Licensor to use
the Technology. 

2.3 The license the Licensee obtains from the Licensor pursuant
to clause 2.1 and 2.2 of this Contract shall be an exclusive license. Within the
valid term of this Contract, the Licensor himself shall not manufacture Patent
Product, or use the Technology, or license or transfer or sell or mortgage or
pledge the Technology or the Patent to any third party. 

2.4 The Licensor hereby agrees, (1) the Licensee per se has
right to use the Patent or the Technology, and (2) the Licensee has right to
license any third party at its sole discretion to use the Patent or the
Technology without the Licensor’s consent and/or any fee payable to the
Licensor. 

2.5 The licensed district of the exclusive license of the
Patent and the Technology the Licensor gives to the Licensee is China (for the
purpose of this Contract, China does not include Hong Kong, Macau and Taiwan).

2.6 The Licensor shall provide to the Licensee the materials of
the Technology, including the name, content, application status and application
number. 

Exhibit 10.12 
(English Translation) 

2.7 The Licensor shall provide to the Licensee sufficient and
timely technical support, guidance and training for the use of the Technology
and the Patent. 

2.8 During the performance of this Contract, if the Licensee
needs the Licensor to provide technical service or update or develop new
technology, the Licensor shall cooperate to make research and development in
accordance with the Licensee’s requirements at the expenses of the Licensee. The
Licensor and Licensee shall enter into an agreement with respect to the R&D
under this clause. 

Article 3. The price of the Contract  

3.1 The exclusive license under this Contract licensed by the
Licensor to the Licensee is free. The Licensee shall not be obligated to pay any
fee or expense to the Licensor for such license. 

Article 4. Delivery and modification of the materials  

4.1 The Licensor shall provide to the Licensee the name and
content of materials of the Technology and the status and relevant situations in
relation to the Patent applied by the Licensor. 

4.2 The Licensor shall immediately delivery the materials of
the Technology as set forth in clause 4.1 upon execution of this Contract. 

4.3 Within the valid term of this Contract, if the Licensor
makes any improvement or development of the Technology and the Patent, he shall
deliver all the technical achievements and materials of such improvement and
development to the Licensee for free and the Licensee is entitled to the
ownership, patent application right and patent right of such technical achievements. The Licensor shall
not apply such technical achievement for patent or transfer or license it to any
third party. 

Exhibit 10.12 
(English Translation) 

4.4 Within the valid term of this Contract, if the Licensor
makes any improvement or development of the Technology and the Patent, the
intellectual properties such as patent application right and patent right of all
the technical achievements made therefrom and the technical achievements per se
shall belong to the Licensee; the Licensor shall not use such technical
achievements unless (1) the Licensor has obtained the prior written consent of
the Licensee, and (2) such technical achievements are only used to further
development by the Licensor, as authorized by the Licensee. 

Article 5. Infringement and covenants  

5.1 The Licensor covenants that he is the legal owner of the
Patent, the Technology and relevant materials and has right to license the
Licensee to use the Patent and the Technology. If there is any third party
claims infringement against the Licensee for the Licensee’s use of the Patent or
the Technology in or outside China, the Licensor shall be responsible for
negotiation with such third party and assume all legal and economic liabilities
resulting therefrom. If the Licensee is therefore liable to pay compensation to
the third party or subject to other legal obligations according to relevant
effective court judgement, verdict, award or reconciliation agreement, the
Licensor shall, before the Licensee undertakes such liabilities and obligation
to the third party, compensate all the loss of the Licensee including such
liabilities and obligation the Licensee is subject to. 

5.2 Within the valid term of this Contract, the Licensor shall
keep the Patent valid and legal and pay the patent annual fees and other
relevant fees in accordance with relevant regulation to maintain the validity of
the Patent. 

Exhibit 10.12 
(English Translation) 

5.3 Within the valid term of this Contract, Licensor shall
immediately notice Licensee in writing for any change of the nature of the
Patent or the Technology. The parties shall consult the performance of this
Contract then. 

5.4 Within the valid term of this Contract, if the Licensor
plans to waive the Patent, he shall notice the Licensee in writing at least
thirty (30) days in advance; the Licensor shall transfer the Patent to Licensee
for free, if required by the Licensee, and execute all necessary documents and
provide all necessary assistance for such transfer to complete the patent
transfer registration and announcement in State Intellectual Property Office of
the PRC. 

Article 6. Tax  

6.1 Each party shall undertake its own taxes under this
agreement in accordance with relevant laws and regulations. 

Article 7. Dispute Resolution  

7.1 Any dispute arising from or related to this Contract shall
be submitted to the court which is located in the execution place of this
Contract. 

Article 8. Valid Term  

8.1 Both parties acknowledge that this Contract constitutes the
entire agreement of both Parties with respect to license of Patent and the
Technology, and replaces all prior agreements, contracts, memorandums, documents
and discussion with respect to the license of the Patent and the Technology. The
Patent Technology Use Right Transfer Agreement signed by both parties as of
October 1, 2008, shall be terminated on the effective date of this Contract.

Exhibit 10.12 
(English Translation) 

8.2 This Contract shall be effective upon the execution by the
Licensor and the Licensee. The license under this Contract can be traced back to
the date of initiative use by Licensee. The term of this Contract shall
terminate on the earliest of the following: 

(1) expiration of the Patent; 

(2) the Patent is terminated before expiration; or 

(3) bankruptcy of the Licensee, or Licensee is subject to a
winding up or dissolution. 

REMAINDER OF PAGE INTENTIONALLY LEFT BLANK 

Exhibit 10.12 
(English Translation) 

Signature Page 

Licensee: Guangdong Jinhao Motorcycle Company Limited 

Signature: (company seal of Guangdong Jinhao Motorcycle
Company Limited) 

Date of execution: July 23, 2010 

Licensor: Lin Xiangzhong 

Signature: /s/ Lin
Xiangzhong                       
 

Date of execution: July 23, 2010

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