Document:

SECURITIES ESCROW
AGREEMENT

       

      This
SECURITIES ESCROW AGREEMENT (this “Agreement”), dated as
of October 29, 2010, is entered into by and among China Dredging Group Co.,
Ltd., a British Virgin Islands company (the “Company”), each of
the Purchasers whose names are set forth on Exhibit A hereto
(individually, a “Purchaser” and
collectively, the “Purchasers”), Chardan
Capital Markets, LLC (the “Purchaser
Representative”), Mars Harvest Co. Ltd., a British Virgin Islands company
(the “Principal
Shareholder”), and Loeb & Loeb LLP (the “Escrow
Agent”).  Capitalized terms used but not defined herein shall
have the meanings set forth in the Purchase Agreement (as defined
below).

      

      WITNESSETH:

      

      WHEREAS,
the Company intends to consummate a private placement transaction with certain
accredited investors, non U.S. persons and/or qualified institutional buyers
(the “Purchasers”), whereby
the Company will issue shares of the Company’s class A convertible preferred
shares, no par value per share (the “Preferred Shares”),
initially convertible into one (1) share of the Company’s ordinary shares, no
par value per share (the “Common Shares”),
subject to adjustment (the “Financing
Transaction”);

      

      WHEREAS,
concurrently with the consummation of the Financing Transaction, the Company
intends to consummate a merger with Chardan Acquisition Corp. with the Company
being the surviving entity of the merger (the “Merger”);

      

      WHEREAS,
in connection with the Financing Transaction, the Company entered into a
securities purchase agreement, dated as of the date hereof (the “Purchase Agreement”),
by and among the Company and the Purchasers, and certain other agreements,
documents, instruments and certificates necessary to carry out the purposes
thereof (collectively, the “Transaction
Documents”);

      

      WHEREAS,
as an inducement to the Purchasers to enter into the Purchase Agreement, the
Principal Shareholder has agreed to place share certificates (“Certificates”)
representing 15,000,000 of the Company’s ordinary shares (the “Escrow Shares”) into
escrow for the benefit of the Purchasers in the event the Company fails to
achieve certain financial performance targets for each of the 12-month periods
ending December 31, 2010 and December 31, 2011;

      

      WHEREAS,
the Purchasers to the Purchase Agreement have appointed a Purchaser
Representative pursuant to the terms thereof to act on their behalf in
connection with this Agreement; and

      

       WHEREAS,
the Company and the Purchaser Representative have requested that the Escrow
Agent hold the Escrow Shares on the terms and conditions set forth in this
Agreement and the Escrow Agent has agreed to act as escrow agent pursuant to the
terms and conditions of this Agreement.

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      

      NOW,
THEREFORE, in consideration of the covenants and mutual promises contained
herein and other good and valuable consideration, the receipt and legal
sufficiency of which are hereby acknowledged and intending to be legally bound
hereby, the parties agree as follows:

      

      ARTICLE
I

      

      TERMS
OF THE ESCROW

      

      1.1.          Appointment of Escrow
Agent.  The parties hereby agree to appoint Loeb & Loeb,
LLP, as escrow agent (the “Escrow Agent”), to
act in accordance with the terms and conditions set forth in this Agreement, and
Escrow Agent hereby accepts such appointment and agrees to act in accordance
with such terms and conditions.

      

      1.2           Establishment of Escrow
Account.  Upon the execution of this Agreement, the Principal
Shareholder shall deliver to the Escrow Agent one or more Certificates
representing the Escrow Shares, along with a share transfer form executed in
blank or in other form and substance acceptable for transfer.  The
Escrow Agent shall hold the Escrow Shares in an escrow account (the “Escrow
Account”) and distribute the same as contemplated by this
Agreement.

      

      1.3           Distribution of the Escrow
Shares.  Within five (5) business days of the receipt in the
applicable year of the certified copy from the Company’s auditor of the 2010
Audited Financial Statements and the 2011 Audited Financial Statements, and a
calculation from the Company of the pro rata and aggregate number of the Escrow
Shares to be distributed to the Purchasers Escrow Agent shall send to the
Company’s transfer agent one or more Certificates covering such aggregate number
of the Escrow Shares required to be distributed to the Purchasers pursuant to
the terms of the Purchase Agreement.

      

      1.4           Termination of
Escrow.  Within five (5) business days following the earliest
of (i) the distribution of all of the Escrow Shares to the Purchasers, (ii) the
receipt by the Escrow Agent from the Company of a certification that the
Adjusted Net Income equals or exceeds $87,171,308 or (iii)  the event
that Escrow Shares were distributed to the Purchasers, the receipt from the
transfer agent of any share certificate reflecting the remaining Escrow Shares
after such distribution  to the Purchasers , the Escrow Agent will
transfer all undistributed Escrow Shares back to the Principal Shareholder and
close the Escrow Account established in section 1.2 above.

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      

      ARTICLE
II

      

      REPRESENTATIONS
OF THE PRINCIPAL SHAREHOLDER

      

      2.1           Representations and
Warranties.  The Principal Shareholder hereby represents and
warrants to the Purchasers and the Purchaser Representative as
follows:

      

      (i) The
Principal Shareholder is the record and beneficial owner of the Escrow Shares
placed into the Escrow Account and owns the Escrow Shares, free and clear of all
pledges, liens, claims and encumbrances, except encumbrances created by this
Agreement.  There are no restrictions on the ability of the Principal
Shareholder to transfer the Escrow Shares, or applicable foreign, federal and
state securities laws.

      

      (ii) The
performance of this Agreement and compliance with the provisions hereof will not
violate any provision of any law applicable to the Principal Shareholder and
will not conflict with or result in any material breach of any of the terms,
conditions or provisions of, or constitute a default under the terms of the
certificate of incorporation or by-laws of the Principal Shareholder, or any
indenture, mortgage, deed of trust or other agreement or instrument binding upon
the Principal Shareholder or affecting the Escrow Shares or result in the
creation or imposition of any lien, charge or encumbrance upon, any of the
properties or assets of the Principal Shareholder, the creation of which would
have a material adverse effect on the business and operations of the Principal
Shareholder.  No notice to, filing with, or authorization,
registration, consent or approval of any governmental authority or other person
is necessary for the execution, delivery or performance of this Agreement or the
consummation of the transactions contemplated hereby by the Principal
Shareholder, other than those already obtained. Upon the transfer of the Escrow
Shares to the Purchasers pursuant to this Agreement,  the Purchasers
will be the record and beneficial owners of all of such shares and have good and
valid title to all of such shares, free and clear of all
encumbrances.

      

      ARTICLE
III

      

      ESCROW
AGENT

      

      3.1.       The
Escrow Agent’s duties hereunder may be altered, amended, modified or revoked
only by a writing signed by the Company, the Principal Shareholder, the
Purchaser Representative and the Escrow Agent.

      

      3.2.       The
Escrow Agent shall be obligated only for the performance of such duties as are
specifically set forth herein and may rely and shall be protected in relying or
refraining from acting on any instrument reasonably believed by the Escrow Agent
to be genuine and to have been signed or presented by the proper party or
parties. The Escrow Agent shall not be personally liable for any act the Escrow
Agent may do or omit to do hereunder as the Escrow Agent while acting in good
faith and in the absence of gross negligence, fraud or willful misconduct, and
any act done or omitted by the Escrow Agent pursuant to the advice of the Escrow
Agent’s attorneys-at-law shall be conclusive evidence of such good faith, in the
absence of gross negligence, fraud or willful misconduct.

      
        
           

        

        
           

          
            

          

        

        
           

        

      

       

      3.3.       The
Escrow Agent is hereby expressly authorized to disregard any and all warnings
given by any of the parties hereto or by any other person or corporation,
excepting only orders or process of courts of law and is hereby expressly
authorized to comply with and obey orders, judgments or decrees of any court. In
case the Escrow Agent obeys or complies with any such order, judgment or decree,
the Escrow Agent shall not be liable to any of the parties hereto or to any
other person, firm or corporation by reason of such decree being subsequently
reversed, modified, annulled, set aside, vacated or found to have been entered
without jurisdiction.

      

      3.4.       The
Escrow Agent shall not be liable in any respect on account of the identity,
authorization or rights of the parties executing or delivering or purporting to
execute or deliver any documents or papers deposited or called for thereunder in
the absence of gross negligence, fraud or willful misconduct.

      

      3.5.       The
Escrow Agent shall be entitled to employ such legal counsel and other experts as
the Escrow Agent may deem necessary to properly advise the Escrow Agent in
connection with the Escrow Agent’s duties hereunder, may rely upon the advice of
such counsel, and may pay such counsel reasonable compensation therefor which
shall be paid by the Escrow Agent.  The Escrow Agent has acted as
legal counsel for the Company. The Company and the Purchasers consent to the
Escrow Agent in such capacity as legal counsel for the Company and waive any
claim that such representation represents a conflict of interest on the part of
the Escrow Agent. The Company and the Purchasers understand that the Escrow
Agent is relying explicitly on the foregoing provision in entering into this
Escrow Agreement.

      

      3.6.       The
Escrow Agent’s responsibilities as escrow agent hereunder shall terminate if the
Escrow Agent shall resign by giving written notice to the Company and the
Purchasers. In the event of any such resignation, the Purchasers and the Company
shall appoint a successor Escrow Agent and the Escrow Agent shall deliver to
such successor Escrow Agent any escrow funds and other documents held by the
Escrow Agent.

      

      3.7.       If
the Escrow Agent reasonably requires other or further instruments connection
with this Escrow Agreement or obligations in respect hereto, the necessary
parties hereto shall use its best efforts to join in furnishing such
instruments.

        

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      3.8.       It
is understood and agreed that should any dispute arise with respect to the
delivery and/or ownership or right of possession of the documents or the Escrow
Shares held by the Escrow Agent hereunder, the Escrow Agent is authorized and
directed in the Escrow Agent’s sole discretion (1) to retain in the Escrow
Agent’s possession without liability to anyone all or any part of said documents
or the Escrow Shares until such disputes shall have been settled either by
mutual written agreement of the parties concerned or by a final order, decree or
judgment or a court of competent jurisdiction after the time for appeal has
expired and no appeal has been perfected, but the Escrow Agent shall be under no
duty whatsoever to institute or defend any such proceedings or (2) to deliver
the Escrow Shares and any other property and documents held by the Escrow Agent
hereunder to a state or Federal court having competent subject matter
jurisdiction and located in the City of New York, Borough of Manhattan, in
accordance with the applicable procedure therefore.

      

      3.9.       Each
of the Company and the Principal Shareholder hereby agrees to indemnify and hold
harmless the Escrow Agent and its partners, employees, agents and
representatives from any and all claims, liabilities, costs or expenses in any
way arising from or relating to the duties or performance of the Escrow Agent
hereunder or the transactions contemplated hereby other than any such claim,
liability, cost or expense to the extent the same shall have been determined by
final, unappealable judgment of a court of competent jurisdiction to have
resulted from the gross negligence, fraud or willful misconduct of the Escrow
Agent.

      

      ARTICLE
IV

      

      MISCELLANEOUS

      

      4.1.       Waiver  No
waiver of, or any breach of any covenant or provision herein contained shall be
deemed a waiver of any preceding or succeeding breach thereof, or of any other
covenant or provision herein contained. No extension of time for performance of
any obligation or act shall be deemed an extension of the time for performance
of any other obligation or act.

      

      4.2.       Notices.  All
notices, demands, consents, requests, instructions and other communications to
be given or delivered or permitted under or by reason of the provisions of this
Agreement or in connection with the transactions contemplated hereby shall be in
writing and shall be deemed to be delivered and received by the intended
recipient as follows: (i) if personally delivered, on the business day of such
delivery (as evidenced by the receipt of the personal delivery service), (ii) if
mailed certified or registered mail return receipt requested, two (2) business
days after being mailed, (iii) if delivered by overnight courier (with all
charges having been prepaid), on the business day of such delivery (as evidenced
by the receipt of the overnight courier service of recognized standing), or (iv)
if delivered by facsimile transmission, on the business day of such delivery if
sent by 6:00 p.m. in the time zone of the recipient, or if sent after that time,
on the next succeeding business day (as evidenced by the printed confirmation of
delivery generated by the sending party’s telecopier machine). If any notice,
demand, consent, request, instruction or other communication cannot be delivered
because of a changed address of which no notice was given (in accordance with
this Section 4.2), or the refusal to accept same, the notice, demand, consent,
request, instruction or other communication shall be deemed received on the
second business day the notice is sent (as evidenced by a sworn affidavit of the
sender). All such notices, demands, consents, requests, instructions and other
communications will be sent to the following addresses or facsimile numbers as
applicable.

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      

      If to
Escrow
Agent:            Loeb
& Loeb LLP

      345 Park
Avenue

      New York,
NY 10154

      Attention:
Mitchell S. Nussbaum

      Tel
No.:212-407-4000

      Fax No.:
212-407-4990

      

      If to the
Company or the Principal Shareholder:

      

      China
Dredging Group Co., Ltd.

      Floor 18,
Tower A, Zhongshan Building,

      No. 154,
Hudong Road, Gulou District,

      Fuzhou
City, Fujian Province, PRC

      Attention::
Zhuo Xinrong

      Tel.
No.:

      Fax
No.:

      

      With a
copy to (which shall not constitute notice):

      Loeb
& Loeb LLP

      345 Park
Avenue

      New York,
NY 10154

      Attention:
Mitchell S. Nussbaum, Esq.

      Tel. No.:
(212) 407-4000

      Fax No.:
(212) 407-4990

      

      If to the
Purchaser Representative: 

      

      GNH
Partners, LLC, Two Greenwich Plaza, Greenwich, CT 06830

      Attention:  Guibao
Liu

      Tel:  (203)
742-3600

      Fax:

      

      With a
copy to (which shall not constitute notice):

      

      
        	
                 
      

              	
                [   ]

              

      

      

      
        	
                 
      

              	
                Attention:

              

      

      
        	
                 
      

              	
                Tel:

              

      

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

       

      or to
such other address and to the attention of such other person as any of the above
may have furnished to the other parties in writing and delivered in accordance
with the provisions set forth above.

      

      4.3.       Successors and
Assigns.  This Escrow Agreement shall be binding upon and shall
inure to the benefit of the permitted successors and permitted assigns of the
parties hereto.

      

      4.4.       Entire Agreement;
Amendment. This Agreement contains the entire understanding and agreement
of the parties relating to the subject matter hereof and supersedes all prior
and/or contemporaneous understandings and agreements of any kind and nature
(whether written or oral) among the parties with respect to such subject matter.
This Escrow Agreement may not be modified, changed, supplemented, amended or
terminated, nor may any obligations hereunder be waived, except by written
instrument signed by the parties to be charged or by its agent duly authorized
in writing or as otherwise expressly permitted
herein.  Notwithstanding anything to the contrary in this Agreement,
none of the provisions of Article I hereof or this Section 4.4 may be modified,
changed, supplemented, amended or terminated, nor may any such provision be
waived, without the prior written consent of the holders of a majority in
interest of the Preferred Shares purchased in the Financing Transaction as of
the date of such modification, change, supplement, amendment, termination or
waiver.

      

      4.5.       Headings. The section
headings contained in this Agreement are inserted for reference purposes only
and shall not affect in any way the meaning, construction or interpretation of
this Agreement. Any reference to the masculine, feminine, or neuter gender shall
be a reference to such other gender as is appropriate. References to the
singular shall include the plural and vice versa.

      

      4.6.       Governing
Law.  This Agreement shall be governed by and construed in
accordance with the internal laws of the State of New York, without giving
effect to any of the conflicts of law principles which would result in the
application of the substantive law of another jurisdiction. This Agreement shall
not be interpreted or construed with any presumption against the party causing
this Agreement to be drafted.

      
        
           

        

        
           

          
            

          

        

        
           

        

      

       

      IN
WITNESS WHEREOF, the parties hereto have executed this Agreement as of this ___
day of October 2010.

       

      CHINA
DREDGING GROUP CO., LTD.

      

      
        
          
            	
                    By: 

                  	 
      
	
                    Name:
      Zhuo Xinrong

                  
	
                    Title:
      Chief Executive Officer

                  

          

        

      

       

      PURCHASER
REPRESENTATIVE:

      

      
        
          
            	
                    By: 

                  	 
      
	
                    Name:

                  
	
                    Title:
      Authorized Signatory

                  

          

        

      

      

      ESCROW
AGENT:

      

      Loeb
& Loeb LLP

      

      
        
          
            	
                    By: 

                  	 
      
	
                    Name:
      Mitchell S. Nussbaum

                  
	
                    Title:
      Partner

                  

          

        

      

      

      PRINCIPAL
SHAREHOLDER:

      

      MARS
HARVEST CO. LTD.

      

      
        
          
            	
                    By: 

                  	 
      
	
                    Name:
      Zhuo Xinrong

                  
	
                    Title:
      Sole Director

                  

          

        

      

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      

      IN
WITNESS WHEREOF, the parties hereto have executed this Agreement as of this ___
day of October 2010.

      

      PURCHASERS:

      

      
        
          
            
              
                
                  
                    
                      	 
      
	
                              (Entity
      Name)

                            
	 
      
	
                              By:

                            	 
      
	 
      
	
                              Its:

                            	 
      

                    

                  

                

              

            

          

        

      

      

      (Signature
Page for Purchasers that are Entities)

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      IN
WITNESS WHEREOF, the parties hereto have executed this Agreement as of this ___
day of October 2010.

      

      
        
          
            	 
      
	
                    Name:

                  

          

        

      

      

      (Signature
Page for Purchasers who are Individuals)Unassociated Document

    
      This
document has been translated for information purposes only; the Chinese text is
the only valid document. 

        
          

        

      

      

    

    Exhibit
4.8

    

    Fujian
WangGang Dredging Construction Co., Ltd.

    

    Wonder
Dredging LLC.

    

    Fujian
Xing Gang Port Service Co., Ltd.

    

    
      
        

      

    CONTRACTED
MANAGEMENT AGREEMENT

     

    (Unoffical Translation)

    
         

      
        

      

    

    
      
         

      

      
        1

        
          

        

      

      
         

      

    

    
      This
document has been translated for information purposes only; the Chinese text is
the only valid document. 

        
          

        

      

      

    

    Contracted
Management Agreement made the 30th day of June, 2010 (the “Agreement”),
among:

    

    Fujian WangGang Dredging Construction
Co., Ltd. The WOFE “the “WOFE”), Whose  legal representative is
LIN Qing, at 16th Floor, Zhongshan Plaza, 154 Hudong Road, Fuzhou City,
Fujian.

    

    Wonder Dredging LLC. (“Wonder
Dredging”), whose legal representative is LIN Qing, at 1705 of 17th Floor,
Zhongshan Plaza A, 154 Hudong Road, Fuzhou City, Fujian.

    

    Fujian Xing Gang Port Service Co.,
Ltd. (“Fujian Xing Gang” ), whose legal representative is LIN Qing, at
17th Floor, Zhongshan Plaza A, 154 Hudong Road, Fuzhou City,
Fujian.

    

    As used
in this Agreement, The WOFE, Wonder Dredging and Fujian Xing Gang are
collectively referred to herein as the “Parties to the Contract”.

    

    Whereas

    

    A. The WOFE is a
foreign-invested limited liability company duly incorporated and existing under
the laws of the People’s Republic of China (the “PRC”), with expertise
in the management of operating companies;

    

    B. Wonder
Dredging is a limited liability company duly incorporated and existing under the
laws of the PRC,

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    
      This
document has been translated for information purposes only; the Chinese text is
the only valid document. 

        
          

        

      

      

    

    C. Fujian
Xing Gang is a limited liability company duly incorporated and existing under
the laws of the PRC, specializing in dredging  port
and  waterways.

    

    D. Each
of The WOFE and Wonder Dredging holds a fifty percent (50%) equity interest in
Fujian Xing Gang

    NOW
THEREFORE the Parties agree as follows:

    

    
      	
              1.

            	
              Contracted Management;
      Effective Date

            

    

    
      	
            	
              1.1

            	
              Pursuant
      to the terms and conditions of the Agreement, the Parties agree to engage
      the WOFE to manage the operations of  Fujian Xing Gang. During
      the term of contracted management, the WOFE and/or the senior officers
      employed by the WOFE (the “Officers”) shall take
      full charge of the business operations of Fujian Xing
  Gang.

            

    

    

    
      	
            	
              1.2

            	
              The
      Parties agree and confirm that from the date of this Agreement set forth
      in the first paragraph of this Agreement (“Effective Date”), the WOFE
      and/or the Officers shall take full charge of the business operation of
      Fujian Xing Gang, running and managing the business of  Fujian
      Xing Gang in accordance with the laws, administrative rules and
      regulations and the covenants applicable to this
  Agreement.

            

    

    

    
      	
            	
              1.3

            	
              This
      Agreement is an exclusive contracted management agreement. During the
      period from Effective Date to the date that this Agreement is terminated,
      Fujian Xing Gang agree  not to contract its business to any
      other party for management, and each of Wonder Dredging
      and  Fujian Xing Gang hereby agree not to interfere with the
      business operations conducted by the
WOFE.

            

    

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    
      This
document has been translated for information purposes only; the Chinese text is
the only valid document. 

        
          

        

      

      

    

    
      	
              2.

            	
              Term
      of the Contracted Management (the
“Term”)

            

    

    
      	  	
              2.1

            	
              This
      Agreement shall be terminate upon the earlier
  of:

            

    

    

    
      	
            	
              (1)

            	
              such
      time that the the WOFE or another person designated by the WOFE (the
      “Designated Person” ) exercises the exclusive right to purchase the equity
      interest in Fujian Xing Gang in accordance with the terms of the Contract
      Relating to the Exclusive Purchase Right of the Equity Interest Agreement
      (the “Purchase Agreement”) signed by the Parties dated as of June 30,
      2010, and

            

    

    

    
      	
            	
              (2)

            	
              The
      WOFE and/or the Designated Person individually/jointly own all of the
      equity interests in Fujian Xing Gang;
or

            

    

    

    
      	
            	
              (3)

            	
              20
      years from the Effective Date, subject to the right of the WOFE, at its
      sole option,  to renewthe term of this Agreement for successive
      20 year periods prior to the expiration of each 20 year period upon prior
      written notice to Wonder Dredging and Fujian Xing
  Gang.

            

    

    

    
      	
              3.

            	
              Calculation
      and Payment of the Fees for the Contracted Management (the
      “Fees”);

            

    

    
      	
            	
              3.1

            	
              The
      parties agree that the WOFE shall, in consideration of the exclusive right
      to manage the business operations of Fujian Xing Gang, pay an annual fee
      of RMB 1 million in to Fujian Xing Gang. Such payment shall be
      madewithin the first month of every applicable  year. The WOFE
      may disburse such payment  from the account of Fujian Xing
      Gang.  Party C's Executive Director or Board to make resolution
      to determine the contracted management fees for the current year within
      the first month of the year.

            

    

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

    
      This
document has been translated for information purposes only; the Chinese text is
the only valid document. 

        
          

        

      

      

    

    
      	
            	
              3.2

            	
              During
      the term of the contracted management, the WOFE is entitled to 100% of the
      net profits (the gross profits minus the costs and expenses, including the
      tax payable all as determined in accordance with US generally accepted
      accounting principles)  reported by Fujian Xing Gang (the “Net
      Profits”). Fujian Xing Gang shall adopt a resolution by the Executive
      Director or the Board of Directors within the first month of every
      contracted management year to confirm the plan for the fees disbursal of
      that year.

            

    

    

    
      	  	
              3.3

            	
              The
      Parties to this Agreement shall pay all their tax liabilities pursuant to
      all the existing and effective taxation laws and administrative rules and
      regulations in PRC.

            

    

    

    
      	
              4.

            	
              Delivery

            

    

    
      
        	
              	
                4.1 

              	
                Within  five
      working days from the Effective Date, Wonder Dredging and Fujian Xing Gang
      shall deliver the documents set forth in 4.2 to the WOFE in order that the
      WOFE can perform the contracted management services to Fujian Xing
      Gang pursuant to the terms of this
Agreement.

              

      

    

    

    
      
        	
              	
                4.2

              	
                At
      the request of the WOFE, Wonder Dredging and Fujian Xing Gang shall
      deliver copies of the following documents to the
  WOFE:

              

      

    

    
      	
               
      

            	
              (1)

            	
              all
      the ownership certificates in the name of Fujian Xing Gang or any
      affiliated party which relate to the business operations of Fujjian Xing
      Gang, including but not limited to the Ownership Registry Certificates of
      the ships and Certificates of Nationality of the ships,
  and

            

    

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

    
      This
document has been translated for information purposes only; the Chinese text is
the only valid document. 

        
          

        

      

      

    

    
      	
               
      

            	
              (2)

            	
              all
      the business permits and licenses and other related documents held by
      Fujian Xing Gang, and

            

    

    

    
      	
               
      

            	
              (3)

            	
              all
      the financial seals and accounting books and records of Fujian Xing Gang,
      and

            

    

    

    
      	
               
      

            	
              (4)

            	
              the
      technical data related to the business operations of Fujian Xing Gang,
      and

            

    

    

    
      	
               
      

            	
              (5)

            	
              the
      management data related to the business operations of Fujian Xing Gang,
      and

            

    

    

    
      	
               
      

            	
              (6)

            	
              All
      the related documents which are necessary in order for the WOFE to
      effectively manage the business of Fujian Xing Gang commencing on the
      Effective Date.

            

    

    

    
      	
              5.

            	
              The
      WOFE’s Rights and Obligations

            

    

    
      	  	
              5.1

            	
              The
      WOFE’s rights. During the Term of this Agreement the WOFE shall have the
      right to:

            

    

    
      
        	
              	
                5.1(1) 

              	
                manage
      and control the business and assets of Fujian Xing Gang in its sole
      discretion. The right of management includes, but not limited to, the
      rights of (1) establishing and implementing the policies and guidelines of
      the management, and (2) directing the use of all of the assets of Fujian
      Xing Gang, including but not limited to, the real property, intangible
      property and working capital.

              

      

    

    

    
      
        	
              	
                5.1(2)

              	
                designate
      the directors to Fujian Xing Gang and replace the directors of Fujian Xing
      Gang and all its affiliates at any time in its sole
      discretion.

              

      

    

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

    
      This
document has been translated for information purposes only; the Chinese text is
the only valid document. 

        
          

        

      

      

    

    
      
        	
              	
                5.1(3)

              	
                appoint
      the managing officers to Fujian Xing Gang, including the general manager,
      deputy general manager and or other senior officers and the financial
      controller.

              

      

    

    

    
      
        	
              	
                5.1(4)

              	
                to
      delineate the organizational structure of the Fujian Xing Gang and employ
      any technical personnel required for the business of  Fujian
      Xing Gang.

              

      

    

    

    
      
        	 	
                5.1(5) 

              	
                establish
      Fujian Xing Gang’s employer-employee arrangements including but not
      limited to, rewards and punishment, dismissal, wages, all in accordance
      with the relevant laws and administrative rules and regulations, with
      approval by the board of directors of Fujian Xing Gang and all its
      subsidiaries.

              

      

    

    

    
      
        	  	
                5.1(6)

              	
                take
      a loan directly or cause Fujian Xing Gang or its affiliates to borrow
      funds, with prior notice  to Wonder Dredging, , provided that
      the loan shall be used for the operation and management of Fujian Xing
      Gang.

              

      

    

     

    
      
        	  	
                5.1(7)

              	
                receive
      100% of the Net Profits of Fujian Xing
Gang.

              

      

    

     

    
      
        	  	
                5.1(8)

              	
                exercise
      all other customary powers and duties associated with the management
      authority and responsibilities contemplated
  hereby.

              

      

    

    

    
      
        	  	
                5.2

              	
                The
      WOFE’s Obligations

              

      

    

    
      
        	  	
                5.2(1)

              	
                The
      WOFE shall operate the business of Fujian Xing Gang as contractor
      according to this
Agreement.

              

      

    

    
      
         

      

      
        7

        
          

        

      

      
         

      

    

    
      This
document has been translated for information purposes only; the Chinese text is
the only valid document. 

        
          

        

      

      

    

    
      
        	
              	
                5.2(2)

              	
                The
      WOFE will operate and manage the business and assets of Fujian Xing Gang
      in accordance and compliance with applicable laws and
      regulations.

              

      

    

    

    
      
        	
              	
                5.2(3)

              	
                The
      WOFE shall repair, maintain, renovate and purchase new assets to ensure
      that Fujian Xing Gang’s business is operated and managed in good status.
      The cost for such repair, maintenance, renovation and purchase will be
      borne by Fujian Xing Gang.

              

      

    

    
      
        	
                .6.

              	
                Wonder Dredging and Fujian Xing
      Gang’s Obligations

              

      

    

    

    
      
        	
              	
                6.1(1)

              	
                Wonder
      Dredging and Fujian Xing Gang shall assist the WOFE in carrying out the
      contracted management in accordance with the terms of this
      Agreement.  Wonder Dredging agrees to execute a Power of
      Attorney granting the WOFE certain rights, including full voting power
      over its equity interest in Fujian Xing
Gang.

              

      

    

    

    
      
        	
              	
                6.1(2)

              	
                Without
      the WOFE’s written consent, Wonder Dredging and Fujian Xing Gang
      shall  not directly or indirectly dispose of the assets of
      Fujian Xing Gang by mortgage, pledge, assignment or any other
      methods.

              

      

    

    

    
      
        	
              	
                6.1(3)

              	
                Wonder
      Dredging and Fujian Xing Gang shall not interfere with the WOFE’s control
      and management of the operations of Fujian Xing
  Gang..

              

      

    

    

    
      
        	
              	
                6.
      2(4)

              	
                Each
      of Wonder Dredging and Fujian Xing Gang agrees that Wonder Dredging will
      continue to maintain the legal ownership of the equity interest in Fujian
      Xing Gang until such equity interest has been purchased by the WOFE or the
      Designated Person in accordance with the terms of the Purchase
      Agreement.

              

      

    

    
      
         

      

      
        8

        
          

        

      

      
         

      

    

    
      This
document has been translated for information purposes only; the Chinese text is
the only valid document. 

        
          

        

      

      

    

    
      
        	
                7.

              	
                Representation,
      Warranties and Promises

              

      

    

    
      
        	
              	
                7.1

              	
                Representation,
      Warranties and Promises by The WOFE hereby represents and warrants
      that

              

      

    

    
      
        	
              	
                7.1(1)

              	
                It
      has the right and ability to sign and perform this Agreement. The
      Agreement is binding on the WOFE in accordance with its
    terms.

              

      

    

    

    
      
        	
              	
                7.1(2)

              	
                It
      has taken such appropriate and necessary action to authorize the
      appropriate persons to sign and execute and perform the obligations under
      this Agreement and obtained any necessary approvals and
      authorizations.

              

      

    

    

    
      
        	
              	
                7.1(3)

              	
                Its
      execution and performance of this Agreement does not violate any laws or
      administrative rules and regulations, or any agreements or any covenants
      with a third party.

              

      

    

    

    
      
        	
              	
                7.1(4)

              	
                All
      the materials provided by it and its legal representatives and all other
      authorized persons are authentic and
accurate.

              

      

    

    

    
      
        	
              	
                7.2

              	
                Representation, Warranties and
      Promises by Wonder Dredging and Fujian Xing Gang.  Each of
      Wonder Dredging and Fujian Xing Gang represent and warrants
      that

              

      

    

    
      
        	
              	
                7.2(1)

              	
                They
      are limited liability companies duly incorporated and validly existing
      under the laws of PRC. They have the rights and abilities to sign and
      execute and perform this Agreement. This Agreement is binding on them in
      accordance with its
terms.

              

      

    

    
      
         

      

      
        9

        
          

        

      

      
         

      

    

    
      This
document has been translated for information purposes only; the Chinese text is
the only valid document. 

        
          

        

      

      

    

    
      
        	
              	
                7.2(2)

              	
                They
      have authorized the appropriate persons to sign and execute and perform
      the obligations under this Agreement and obtained any necessary approvals
      and authorizations.

              

      

    

    

    
      
        	
              	
                7.2(3)

              	
                Their
      execution and performance of this Agreement does not violate any laws or
      administrative rules and regulations, which is binding upon it, nor does
      such execution and performance violate any agreement to which it is a
      party, or any covenant with any third
party.

              

      

    

    

    
      
        	
              	
                7.2(4)

              	
                All
      the materials provided by them and their legal representatives and all
      other authorized persons are authentic and
  accurate..

              

      

    

    

    
      
        
          	
                	
                  7.2(5)

                	
                  Wonder
      Dredging has full authority to enter into this Agreement to engage the
      services of the WOFE for the management of the business operations of
      Fujian Xing Gang.

                

        

      

    

    

    
      
        	
              	
                7.2(6)

              	
                Prior
      to (including) the Effective Date, the assets of Fujian Xing Gang are in
      good working condition.

              

      

    

    

    
      
        	
                8.

              	
                Modification and
      Assignment

              

      

    

    

    
      
        	  	
                8.1

              	
                Any
      modifications to this Agreement must be in writing signed by the Parties
      after negotiation.

              

      

    

    
      
         

      

      
        10

        
          

        

      

      
         

      

    

    
      This
document has been translated for information purposes only; the Chinese text is
the only valid document. 

        
          

        

      

      

    

    
      
        	
              	
                8.2

              	
                Wonder
      Dredging and Fujian Xing Gang irrevocably agree and promise that the WOFE
      is entitled, in its sole discretion, to assign or partly assign all the
      rights and obligations under this Agreement to any other party designated
      by the WOFE, without the consent, of any other Party and agrees to notify
      the other Parties of such assignment,
..

              

      

    

    

    
      
        	
              	
                8.3

              	
                Each
      of Wonder Dredging and Fujian Xing Gang  irrevocably agrees and
      promises that the WOFE is entitled to, in its sole discretion, dissolve
      this Agreement by notifying them without their
  consent.

              

      

    

    

    
      
        	
                9.

              	
                Liabilities
      for Breach of the Agreement and the Termination of the
      Agreement

              

      

    

    
      
        	
              	
                9.1

              	
                Unless
      otherwise stipulated under this Agreement, in case of any loss sustained
      by one Party hereto due to any breach of this Agreement by the other
      Party(s), the breaching Party shall bear legal liabilities according to
      the law and be liable for all losses sustained by the non-defaulting
      party(s) due to such breach.

              

      

    

    

    
      
        	  	
                9.2

              	
                The
      Parties agree that the liabilities for breach of the Agreement are
      compensatory and shall not exceed the losses sustained by the
      non-defaulting party(s)

              

      

    

    

    
      
        	  	
                9.3

              	
                This
      Agreement may be terminated in the occurrence of any of the following
      events:

              

      

    

    
      	  	
              (1)

            	
              this
      Agreement is terminated in accordance with its terms;
  or

            

    

     

    
      	  	
              (2)

            	
              pursuant
      to Section 8.3 hereof.

            

    

    

    
      
        	
              	
                9.4

              	
                According
      to Section 8.3, the WOFE has the right to terminate this Agreement by
      delivering written notice to Wonder Dredging and Fujian Xing Gang. In such
      event, this Agreement will terminate without penalty upon the delivery of
      the written notice to Wonder Dredging and Fujian Xing
  Gang.

              

      

    

    
      
         

      

      
        11

        
          

        

      

      
         

      

    

    
      This
document has been translated for information purposes only; the Chinese text is
the only valid document. 

        
          

        

      

      

    

    
      
        	
              	
                9.5

              	
                Excepted
      as set forth in Section 8.3 in this Agreement, no Party shall dissolve
      this Agreement in its sole discretion, nor shall any party interfere with
      the normal execution and performance of this Agreement by the other
      party(s).

              

      

    

    

    
      
        	
                10.

              	
                Force
      Majeure

              

      

    

    
      
        	
              	
                10.1

              	
                No
      party shall be liable if it is delayed or prevented from performing its
      obligations under this Agreement by Force Majeure. Force Majeure means
      acts of nature, fire, earthquake, war and political turmoil, and any other
      event that is beyond the party’s reasonable control and cannot be
      prevented with reasonable
care.

              

      

    

    

    
      
        	
              	
                10.2

              	
                When
      the event of Force Majeure arises, the affected party shall inform the
      other Parties within 15 business days. The affected party which does not
      perform the obligations under this Agreement shall be responsible for any
      damage caused by failure of informing other parties. After the event of
      Force Majeure is removed, the affected party shall resume performance of
      this Agreement with its best
efforts.

              

      

    

    

    
      
        	
                11.

              	
                Governing
      Laws and Settlement of the
Disputes

              

      

    

    
      
        	
              	
                11.1

              	
                The
      execution, validity, performance, interpretation and settlement of
      disputes shall be governed by PRC
laws.

              

      

    

    

    
      
        	
              	
                11.2

              	
                If
      any disputes arise out of performance of this Agreement, the Parties shall
      first settle such disputes through friendly negotiations. Should such
      disputes fail to be settled through negotiation within 20 days after the
      disputes arises, each Party may submit such disputes to the court with
      jurisdiction.

              

      

    

    
      
         

      

      
        12

        
          

        

      

      
         

      

    

    
      This
document has been translated for information purposes only; the Chinese text is
the only valid document. 

        
          

        

      

      

    

    
      	
              12.

            	
              Miscellaneous

            

    

    
      
        	
              	
                12.1

              	
                The
      parties to the Agreement agree that all the business materials relating to
      the performance of the Agreement are confidential and shall not be
      disclosed to a third party unless the disclosure of materials is required
      by the laws or administration rules and regulations of PRC or by
      supervising authority.  Notwithstanding the foregoing, the
      Parties acknowledge that this Agreement can be filed with the Securities
      and Exchange Commission in the United
States.

              

      

    

    

    
      
        	
              	
                12.2

              	
                Notices
      or other communications required to be given by any party pursuant to this
      Agreement shall be written. Any party should inform the other parties if
      his address, contact number or fax number have been changed. If a Party
      fails to inform the other Parties of its contact information, the notice
      will deemed to be duly served when it is delivered to the prior address or
      fax number known by other
Parties.

              

      

    

    

    
      
        	
              	
                12.3

              	
                Should
      all or any part of any provision hereof be held void by the court with
      jurisdiction or the relevant authority, then such part of the provision
      shall be deemed to have been deleted; provided that, such deletion shall
      in no way affect the legal force of any other part of the provisions or
      any other provision hereof.

              

      

    

    

    
      
        	
              	
                12.4

              	
                The
      amendments (if any) duly executed by the Parties shall be part of this
      Agreement and shall have the same legal effect as this
      Agreement.

              

      

    

    

    
      
        	
              	
                12.5

              	
                This
      Agreement is made in six (6) originals in Chinese, of which each Party
      shall hold two. Each original has the same
  validity.

              

      

    

    
      
         

      

      
        13

        
          

        

      

      
         

      

    

    
      This
document has been translated for information purposes only; the Chinese text is
the only valid document. 

        
          

        

      

      

    

    [Blank
below]

     

    [Page for
signatures]

    

    
      	
              Fujian
      WangGang Dredging Construction

              Co.,
      Ltd. /seal/

            	 
      
	 
      	 
      
	
              By

            	 
      
	
              Name:
      /s/ LIN Bin

            	 
      
	
              Title:

            	 
      
	 
      	 
      
	
              Wonder
      Dredging LLC. 

              /seal/

            	 
      
	 
      	 
      
	
              By

            	 
      
	
              Name:
      /s/ LIN Qing

            	 
      
	
              Title:

            	 
      
	 
      	 
      

    

     

    
      
         

      

      
        14

        
          

        

      

      
         

      

    

    
      This
document has been translated for information purposes only; the Chinese text is
the only valid document. 

        
          

        

      

      

    

    
      	
              Fujian
      Xing Gang Port Service Co., Ltd.

              /seal/

            	 
      
	 
      	 
      
	
              By

            	 
      
	
              Name:
      /s/ LIN Qing

            	 
      
	
              Title:

            	 
      

    

     

    
      
         

      

      
        15

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00180-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00180-of-00352.parquet"}]]