Document:

Unassociated Document

     

    
      Exhibit
        10.1

      SHINER
        INTERNATIONAL, INC.

      

      

      FORM
        OF
        REGISTRATION RIGHTS AGREEMENT

       

      This
        REGISTRATION RIGHTS AGREEMENT (the “Agreement”), dated as of October ___, 2007,
        is made by and between SHINER INTERNATIONAL, INC., a Nevada corporation (the
        “Company”), and the undersigned investor (the “Investor”).

       

      WHEREAS,
        in connection with that certain Subscription Agreement by and among the Company
        and the Investor (the “Subscription Agreement”), the Company desires to sell to
        the Investor, and the Investor desires to purchase from the Company units
        of (a)
        shares of the Company’s common stock, $0.001 par value per share (the “Common
        Stock”); and (b) Warrants to purchase additional shares of Common Stock (the
“Warrants”) equal to 15% of the Common Stock initially purchased;
        and

       

      WHEREAS,
        to induce the Investor to purchase the Common Stock and Warrants, the Company
        has agreed to register the shares of Common Stock purchased and the Common
        Stock
        underlying the Warrants pursuant to the terms of this Agreement.

       

      NOW,
        THEREFORE, the Company and the Investor hereby covenant and agree as
        follows:

       

      1.  Certain
        Definitions.
        As used
        in this Agreement, the following terms shall have the following respective
        meanings:

       

      “Commission”
        shall mean the Securities and Exchange Commission, or any other federal agency
        at the time administering the Securities Act.

       

      “Effectiveness
        Date” shall mean that date which is one hundred eighty (180) days following the
        closing of the Offering.

       

      “Exchange
        Act” shall mean the Securities Exchange Act of 1934, as amended.

       

      “Filing
        Date” shall mean that date which is sixty (60) days following the final closing
        of the Offering.

       

      “Offering”
        shall refer to the Company’s proposal to sell Units for $3.00 per unit, with
        each Unit consisting of (i) one share of Common Stock of the Company and
        (ii) a
        three (3) year Warrant to purchase 15% of one share of Common Stock of the
        Company with an initial exercise price of $6.00. The total amount of Units
        being
        offered is 3,500,000 for a total maximum purchase price of $10,500,000 USD.
        

       

      “Register,”
        “registered” and “registration” each shall refer to a registration effected by
        preparing and filing a Registration Statement or statements or similar documents
        in compliance with the Securities Act and the declaration or ordering of
        effectiveness of such Registration Statement or document by the
        Commission.

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      “Registrable
        Securities” shall mean the shares of Common Stock issued pursuant to the
        Subscription Agreement or upon the exercise of the Warrants delivered as
        part of
        the Offering; provided, however, that shares of Common Stock which are
        Registrable Securities shall cease to be Registrable Securities (x) upon
        any
        sale pursuant to a Registration Statement or Rule 144 under the Securities
        Act
        or (y) at such time as they become eligible for sale pursuant to Rule 144
        under
        the Securities Act or another similar exemption under the Securities
        Act.

       

      “Securities
        Act” shall mean the Securities Act of 1933, as amended.

       

      Capitalized
        terms used but not defined herein shall have the meanings set forth in the
        Subscription Agreement or the Warrants.

       

      2.  Automatic
        Registration.

       

      (a)  On
        or
        prior to the Filing Date, the Company shall prepare and file with the Commission
        the Registration Statement covering the resale of all of the Registrable
        Securities for an offering to be made on a continuous basis pursuant to Rule
        415. The Registration Statement required hereunder shall be on Form SB-2.
        Subject to the terms of this Agreement, the Company shall use its commercially
        reasonable efforts to cause the Registration Statement to be declared effective
        under the Securities Act as promptly as possible after the filing thereof,
        but
        in any event not later than the Effectiveness Date, and shall use its
        commercially reasonable efforts to keep the Registration Statement continuously
        effective under the Securities Act until the date when all Registrable
        Securities covered by the Registration Statement have been sold or may be
        sold
        pursuant to Rule 144 as determined by the counsel to the Company pursuant
        to a
        written opinion letter to such effect, addressed and acceptable to the Company’s
        transfer agent and the Investor (the “Effectiveness Period”).

       

      (b)  If:
        (i) a
        Registration Statement is not filed on or prior to the Filing Date, or (ii)
        the
        Company fails to file with the Commission a request for acceleration in
        accordance with Rule 461 promulgated under the Securities Act, within 5 trading
        days of the date that the Company is notified (orally or in writing, whichever
        is earlier) by the Commission that a Registration Statement will not be
“reviewed,” or is not subject to further review, or (iii) a Registration
        Statement filed or required to be filed hereunder is not declared effective
        by
        the Commission on or before the Effectiveness Date as a result of the failure
        of
        the Company to meet its obligations with respect to such filing as provided
        for
        herein, or (iv) after a Registration Statement is first declared effective
        by
        the Commission, it ceases for any reason to remain continuously effective
        as to
        the Registrable Securities held by the Investor, or the Investor is not
        permitted to utilize the Prospectus therein to resell such Registrable
        Securities, for in any such case 15 consecutive trading days but no more
        than an
        aggregate of 25 trading days during any 12-month period (which need not be
        consecutive trading days) during which the Investor is not permitted to sell
        such Registrable Securities under Rule 144 (any such failure or breach being
        referred to as an “Event,” and for purposes of clause (i) or (iii) the date on
        which such Event occurs, or for purposes of clause (ii) the date on which
        such 5
        trading day period is exceeded, or for purposes of clause (iv) the date on
        which
        such 15- or 25-day period, as applicable, is exceeded being referred to as
        “Event Date”), then: (x) on the first Event Date to occur the Company shall pay
        to such Investor an amount in cash, as liquidated damages and not as a penalty,
        equal to 2.0% of the aggregate purchase price paid by such Investor pursuant
        to
        the Subscription Agreement for any Registrable Securities then held by such
        Investor
        for
        which
        such Investor has not received liquidated damages pursuant to Section 2(c)
        below;
        and (y)
        on each anniversary of such Event Date (if the applicable Event, or any
        subsequent Event, shall not have been cured by such date) until all Event(s)
        are
        cured, the Company shall pay to such Investor an amount in cash, as liquidated
        damages and not as a penalty, equal to 2.0% of the aggregate purchase price
        paid
        by such Investor pursuant to the Subscription Agreement for any Registrable
        Securities then held by such Investor for
        which
        such Investor has not received liquidated damages pursuant to Section 2(c)
        below.
        If the
        Company fails to pay any liquidated damages pursuant to this Section in full
        within seven days after the date payable, the Company will pay interest thereon
        at a rate of 15% per annum (or such lesser maximum amount that is permitted
        to
        be paid by applicable law) to the Investor, accruing daily from the date
        such
        liquidated damages are due until such amounts, plus all such interest thereon,
        are paid in full. The liquidated damages pursuant to the terms hereof shall
        apply on a daily pro-rata basis for any portion of a year prior to the cure
        of
        an Event.

       

      
        
           

        

        
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      (c)  Notwithstanding
        any other provision of this Section 2, if the Commission determines that
        the number of securities that the Company may register on the Registration
        Statement pursuant to Rule 415 is limited such that the shares so registered
        thereunder shall exclude any Registrable Securities held by the Investor,
        then
        the Company shall promptly so advise the Investor and the Company shall use
        commercially reasonable efforts to effect the registration of any Registrable
        Securities not so included on the Registration Statement as a result thereof
        as
        soon as is legally possible to do so. In such event, the Company shall pay
        to
        such Investor liquidated damages as set forth in Section 2(b) hereof with
        respect to  any Registrable Securities then held by the Investor that were
        not registered by the Effectiveness Date.

       

      (d)  The
        parties acknowledge and agree that (i) the maximum amount of damages that
        the
        Company shall be obligated to pay the Investor for any and all breaches of
        this
        Section 2 is the amount of liquidated damages set forth in Section 2(b) or
        2(c),
        and (ii) such liquidated damages shall be the sole remedy available to Investor
        for any breach of this Agreement, provided that nothing in this Section 2(d)
        shall preclude Investor from seeking injunctive relief, including specific
        performance of its rights under this Section 2.

       

      3.  Registration
        Procedures.
        If and
        whenever the Company is required by the provisions of Section 2 hereof to
        use
        its commercially reasonable efforts to effect the registration of any
        Registrable Securities under the Securities Act, the Company will, as
        expeditiously as possible:

       

      (a)  prepare
        and file with the Commission the Registration Statement with respect to such
        securities and use its reasonable best efforts to cause such Registration
        Statement to become effective in an expeditious manner;

       

      (b)  prepare
        and file with the Commission such amendments and supplements to such
        Registration Statement and the prospectus used in connection therewith as
        may be
        necessary to keep such Registration Statement continuously effective during
        the
        Effectiveness Period and comply with the provisions of the Securities Act
        with
        respect to the disposition of all Registrable Securities covered by such
        Registration Statement in accordance with the intended method of disposition
        set
        forth in such Registration Statement for such period;

       

      
        
           

        

        
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      (c)  furnish
        to each seller of Registrable Securities and to each underwriter such number
        of
        copies of the Registration Statement and the prospectus included therein
        (including each preliminary prospectus) as such persons reasonably may request
        in order to facilitate the intended disposition of the Registrable Securities
        covered by such Registration Statement;

       

      (d)  use
        its
        commercially reasonable efforts (i) to register or qualify the Registrable
        Securities covered by such Registration Statement under the securities or
“blue
        sky” laws of such jurisdictions as the sellers of Registrable Securities or, in
        the case of an underwritten public offering, the managing underwriter,
        reasonably shall request, (ii) to prepare and file in those jurisdictions
        such
        amendments (including post-effective amendments) and supplements, and take
        such
        other actions, as may be necessary to maintain such registration and
        qualification in effect at all times for the period of distribution contemplated
        thereby and (iii) to take such further action as may be necessary or advisable
        to enable the disposition of the Registrable Securities in such jurisdictions,
        provided, that the Company shall not for any such purpose be required to
        qualify
        generally to transact business as a foreign corporation in any jurisdiction
        where it is not so qualified or to consent to general service of process
        in any
        such jurisdiction;

       

      (e)  use
        its
        commercially reasonable efforts to list the Registrable Securities covered
        by
        such Registration Statement with any securities exchange on which the Common
        Stock of the Company is then listed;

       

      (f)  immediately
        notify each seller of Registrable Securities and each underwriter under such
        Registration Statement, at any time when a prospectus relating thereto is
        required to be delivered under the Securities Act, of the happening of any
        event
        of which the Company has knowledge as a result of which the prospectus contained
        in such Registration Statement, as then in effect, includes any untrue statement
        of a material fact or omits to state a material fact required to be stated
        therein or necessary to make the statements therein not misleading in light
        of
        the circumstances then existing and promptly amend or supplement such
        Registration Statement to correct any such untrue statement or
        omission;

       

      (g)  promptly
        notify each seller of Registrable Securities of the issuance by the Commission
        of any stop order suspending the effectiveness of the Registration Statement
        or
        the initiation of any proceedings for that purpose and make every reasonable
        effort to prevent the issuance of any stop order and, if any stop order is
        issued, to obtain the lifting thereof at the earliest possible
        time;

       

      (h)  if
        the
        offering is an underwritten offering, enter into a written agreement with
        the
        managing underwriter selected in the manner herein provided in such form
        and
        containing such provisions as are usual and customary in the securities business
        for such an arrangement between such underwriter and companies of the Company’s
        size and investment stature, including, without limitation, customary
        indemnification and contribution provisions;

       

      
        
           

        

        
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      (i)  if
        the
        offering is an underwritten offering, at the request of any seller of
        Registrable Securities, use its commercially reasonable efforts to furnish
        to
        such seller on the date that Registrable Securities are delivered to the
        underwriters for sale pursuant to such registration: (i) a copy of an opinion
        dated such date of counsel representing the Company for the purposes of such
        registration, addressed to the underwriters, stating that such Registration
        Statement has become effective under the Securities Act and that (A) to the
        knowledge of such counsel, no stop order suspending the effectiveness thereof
        has been issued and no proceedings for that purpose have been instituted
        or are
        pending or contemplated under the Securities Act, (B) the Registration
        Statement, the related prospectus and each amendment or supplement thereof
        comply as to form in all material respects with the requirements of the
        Securities Act (except that such counsel need not express any opinion as
        to
        financial statements or other financial or statistical information contained
        therein) and (C) to such other effects as reasonably may be requested by
        counsel
        for the underwriters; and (ii) a copy of a letter dated such date from the
        independent public accountants retained by the Company, addressed to the
        underwriters, stating that they are independent public accountants within
        the
        meaning of the Securities Act and that, in the opinion of such accountants,
        the
        financial statements of the Company included in the Registration Statement
        or
        the prospectus, or any amendment or supplement thereof, comply as to form
        in all
        material respects with the applicable accounting requirements of the Securities
        Act, and such letter shall additionally cover such other financial matters
        (including information as to the period ending no more than five business
        days
        prior to the date of such letter) with respect to such registration as such
        underwriters reasonably may request;

       

      (j)  take
        all
        actions reasonably necessary to facilitate the timely preparation and delivery
        of certificates (not bearing any legend restricting the sale or transfer
        of such
        securities) representing the Registrable Securities to be sold pursuant to
        the
        Registration Statement and to enable such certificates to be in such
        denominations and registered in such names as the Investor or any underwriters
        may reasonably request; and

       

      (k)  take
        all
        other reasonable actions necessary to expedite and facilitate the registration
        of the Registrable Securities pursuant to the Registration
        Statement.

       

      4.  Obligations
        of Investor.
        The
        Investor shall furnish to the Company such information regarding such Investor,
        the number of Registrable Securities owned and proposed to be sold by it,
        the
        intended method of disposition of such securities and any other information
        as
        shall be required to effect the registration of the Registrable Securities,
        and
        cooperate with the Company in preparing the Registration Statement and in
        complying with the requirements of the Securities Act.

       

      5.  Expenses.

       

      (a)  All
        expenses incurred by the Company in complying with Sections 2 and 3 including,
        without limitation, all registration and filing fees (including the fees
        of the
        Securities and Exchange Commission and any other regulatory body with which
        the
        Company is required to file), printing expenses, fees and disbursements of
        counsel and independent public accountants for the Company, fees and expenses
        (including counsel fees) incurred in connection with complying with state
        securities or “blue sky” laws, and fees of transfer agents and registrars are
        called “Registration Expenses.” All underwriting discounts and selling
        commissions applicable to the sale of Registrable Securities are called “Selling
        Expenses.”

       

      
        
           

        

        
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      (b)  The
        Company will pay all Registration Expenses in connection with any Registration
        Statement filed hereunder, and the Selling Expenses in connection with each
        such
        Registration Statement shall be borne by the participating sellers in proportion
        to the number of Registrable Securities sold by each or as they may otherwise
        agree.

       

      6.  Indemnification
        and Contribution.

       

      (a)  In
        the
        event of a registration of any of the Registrable Securities under the
        Securities Act pursuant to the terms
        of
        this Agreement, the Company will indemnify and hold harmless and pay and
        reimburse, each seller of such Registrable
        Securities thereunder, each underwriter of such Registrable Securities
        thereunder and each other person, if any, who
        controls such seller or underwriter within the meaning of the Securities
        Act,
        against any losses, claims, damages or liabilities,
        joint or several, to which such seller, underwriter or controlling person
        may
        become subject under the Securities Act
        or
        otherwise, insofar as such losses, claims, damages or liabilities (or actions
        in
        respect thereof) arise out of or are based upon
        any
        untrue statement or alleged untrue statement of any material fact contained
        in
        any Registration Statement under which
        such Registrable Securities were registered under the Securities Act pursuant
        hereto or any preliminary prospectus or final prospectus contained therein,
        or
        any amendment or supplement thereof, or arise out of or are based upon the
        omission or alleged omission to state therein a material fact required to
        be
        stated therein or necessary to make the statements therein not misleading,
        or any violation or alleged violation of the Securities Act or any state
        securities or blue sky laws and will reimburse
        each such seller, each such underwriter and each such controlling person
        for any
        legal or other expenses reasonably
        incurred by them in connection with investigating or defending any such loss,
        claim, damage, liability or action; provided,
        that the Company will not be liable in any such case if and to the extent
        that
        any such loss, claim, damage or liability
        arises out of or is based upon the Company’s reliance on an untrue statement or
        alleged untrue statement or omission or alleged omission so made in conformity
        with information furnished by any such seller, any such underwriter or any
        such
        controlling person in writing specifically for use in such Registration
        Statement or prospectus.

       

      (b)  In
        the
        event of a registration of any of the Registrable Securities under the
        Securities Act pursuant hereto each seller of such Registrable Securities
        thereunder, severally and not jointly, will indemnify and hold harmless the
        Company, each person, if any, who controls the Company within the meaning
        of the
        Securities Act, each officer of the Company who signs the Registration
        Statement, each director of the Company, each underwriter and each person
        who
        controls any underwriter within the meaning of the Securities Act, against
        all
        losses, claims, damages or liabilities, joint or several, to which the Company
        or such officer, director, underwriter or controlling person may become subject
        under the Securities Act or otherwise, insofar as such losses, claims, damages
        or liabilities (or actions in respect thereof) arise out of or are based
        upon
        reliance on any untrue statement or alleged untrue statement of any material
        fact contained in the Registration Statement
        under which such Registrable Securities were registered under the Securities
        Act
        pursuant hereto or,
        any
preliminary
        prospectus or final prospectus contained therein, or any amendment or supplement
        thereof, or arise out of or are based upon the omission or alleged omission
        to
        state therein a material fact required to be stated therein or necessary
        to make
        the statements therein not misleading, and will reimburse the Company and
        each
        such officer, director, underwriter,
        and
        controlling person for any legal or other expenses reasonably incurred by
        them
        in connection with investigating or defending any
        such
        loss, claim, damage, liability or action, provided, that such seller will
        be
        liable hereunder in any such case if and only
        to
        the extent that any such loss, claim, damage or liability arises out of or
        is
        based upon an untrue statement or alleged untrue
        statement or omission or alleged omission made in reliance upon and in
        conformity with information pertaining to such
        seller, as such, furnished in writing to the Company by such seller specifically
        for use in such Registration Statement or prospectus,
        and provided that, the liability of each seller hereunder shall be limited
        to
        the proceeds received by such seller from
        the
        sale of Registrable Securities covered by such Registration Statement.
        Notwithstanding the foregoing, the indemnity provided in this Section 6(b)
        shall
        not apply to amounts paid in settlement of any such loss, claim, damage,
        liability or expense if such settlement is effected without the consent of
        such
        indemnified party and provided further, that the Company shall
        not
        be liable in any such case to the extent that any such loss, claim, damage
        or
        liability (or action in respect thereof) arises
        out of or is based upon an untrue statement or alleged untrue statement or
        omission or alleged omission in such Registration
        Statement, which untrue statement or alleged untrue statement or omission
        or
        alleged omission is completely corrected in an amendment or supplement to
        the
        Registration Statement and the undersigned indemnitees thereafter fail to
        deliver or cause to be delivered such Registration Statement as so amended
        or
        supplemented prior to or concurrently with the sale of the Registrable
        Securities to the person asserting such loss, claim, damage or liability
        (or
        actions in respect thereof) or expense after the Company has furnished the
        undersigned with the same.

       

      
        
           

        

        
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      (c)  Promptly
        after receipt by an indemnified party hereunder of notice of the commencement
        of
        any action, such indemnified party shall, if a claim in respect thereof is
        to be
        made against the indemnifying party hereunder, notify the indemnifying party
        in
        writing thereof, but the omission so to notify the indemnifying party shall
        not
        relieve it from any liability which it may have to such indemnified party
        other
        than under this Section 6 and shall only relieve it from any liability which
        it
        may have to such indemnified party under this Section 6 if and to the extent
        the
        indemnifying party is materially prejudiced by such omission. In case any
        such
        action shall be brought against any indemnified party and it shall notify
        the
        indemnifying party of the commencement thereof, the indemnifying party shall
        be
        entitled to participate in and, to the extent it shall wish, to assume and
        undertake the defense thereof with counsel reasonably satisfactory to such
        indemnified party, and, after notice from the indemnifying party to such
        indemnified party of its election so to assume and undertake the defense
        thereof, the indemnifying party shall not be liable to such indemnified party
        under this Section 6 for any legal expenses subsequently incurred by such
        indemnified party in connection with the defense thereof other than reasonable
        costs of investigation and of liaison with counsel so selected, provided
        that if
        the defendants in any such action include both the indemnified party and
        the
        indemnifying party and the indemnified party shall have reasonably concluded
        based upon written advise of its counsel that there may be reasonable defenses
        available to it which are different from or additional to those available
        to the
        indemnifying party or if the interests of the indemnified party reasonably
        may
        be deemed to conflict with the interests of the indemnifying party, the
        indemnified party shall have the right to select a separate counsel and to
        assume such legal defenses and otherwise to participate in the defense of
        such
        action, with the expenses and fees of such separate counsel and other expenses
        related to such participation to be reimbursed by the indemnifying party
        as
        incurred.

       

      
        
           

        

        
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      (d)  In
        order
        to provide for just and equitable contribution to joint liability under the
        Securities Act in any case in which either (i) any holder of Registrable
        Securities exercising rights under this Agreement, or any controlling person
        of
        any such holder, makes a claim for indemnification pursuant to this Section
        6
        but it is judicially determined (by the entry of a final judgment or decree
        by a
        court of competent jurisdiction and the expiration of time to appeal or the
        denial of the last right of appeal) that such indemnification may not be
        enforced in such case notwithstanding the fact that this Section 6 provides
        for
        indemnification in such case, or (ii) contribution under the Securities Act
        may
        be required on the part of any such selling holder or any such controlling
        person in circumstances for which indemnification is provided under this
        Section
        6; then, and in each such case, the Company and such holder will contribute
        to
        the aggregate losses, claims, damages or liabilities to which they may be
        subject (after contribution from others) in such proportion so that such
        holder
        is responsible for the portion represented by the percentage that the public
        offering price of its Registrable Securities offered by the Registration
        Statement bears to the public offering price of all securities offered by
        such
        Registration Statement, and the Company is responsible for the remaining
        portion; provided, that, in any such case, (A) no such holder will be required
        to contribute any amount in excess of the public offering price of all such
        Registrable Securities offered by it pursuant to such Registration Statement
        and
        (B) no person or entity guilty of fraudulent misrepresentation (within the
        meaning of Section 12 (f) of the Securities Act) will be entitled to
        contribution from any person or entity who was not guilty of such fraudulent
        misrepresentation.

       

      7.  Changes
        in Capital Stock.
        If, and
        as often as, there is any change in the capital stock of the Company by way
        of a
        stock split, stock dividend, combination or reclassification, or through
        a
        merger, consolidation, reorganization or recapitalization, or by any other
        means, appropriate adjustment shall be made in the provisions hereof so that
        the
        rights and privileges granted hereby shall continue as so changed.

       

      8.  Representations
        and Warranties of the Company.
        The
        Company represents and warrants to the Investor as follows:

       

      (a)  The
        execution, delivery and performance of this Agreement by the Company have
        been
        duly authorized by all requisite corporate action and will not violate any
        provision of law, any order of any court or other agency of government, the
        Articles of Incorporation or By-laws of the Company or any provision of any
        indenture, agreement or other instrument to which it or any or its properties
        or
        assets is bound, conflict with, result in a breach of or constitute (with
        due
        notice or lapse of time or both) a default under any such indenture, agreement
        or other instrument or result in the creation or imposition of any lien,
        charge
        or encumbrance of any nature whatsoever upon any of the properties or assets
        of
        the Company or its subsidiaries.

       

      (b)  This
        Agreement has been duly executed and delivered by the Company and constitutes
        the legal, valid and binding obligation of the Company, enforceable in
        accordance with its terms, subject to any applicable bankruptcy, insolvency
        or
        other laws affecting the rights of creditors generally and to general equitable
        principles and the availability of specific performance.

       

      
        
           

        

        
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      9.  Rule
        144 Requirements.
        The
        Company agrees to:

       

      (a)  make
        and
        keep current public information about the Company available, as those terms
        are
        understood and defined in Rule 144;

       

      (b)  use
        its
        commercially reasonable efforts to file with the Commission in a timely manner
        all reports and other documents required of the Company under the Securities
        Act
        and the Exchange Act (at any time after it has become subject to such reporting
        requirements); and

       

      (c)  furnish
        to any holder of Registrable Securities upon request (i) a written statement
        by
        the Company as to its compliance with the reporting requirements of Rule 144 and
        of the Securities Act and the Exchange Act (at any time after it has become
        subject to such reporting requirements), (ii) a copy of the most recent annual
        or quarterly report of the Company, and (iii) such other reports and documents
        of the Company as such holder may reasonably request to avail itself of any
        similar rule or regulation of the Commission allowing it to sell any such
        securities without registration.

       

      10.  Termination.
        All of
        the Company’s obligations to register Registrable Shares under Sections 2 and 3
        hereto shall terminate upon the date on which the Investor holds no Registrable
        Securities or all of the Registrable Securities are eligible for resale under
        Rule 144.

       

      11.  Miscellaneous.

       

      (a)  All
        covenants and agreements contained in this Agreement by or on behalf of any
        of
        the parties hereto shall bind and inure to the benefit of the respective
        successors and assigns of the parties hereto (including without limitation
        transferees of any Registrable Securities), whether so expressed or
        not.

       

      (b)  All
        notices, requests, consents and other communications hereunder shall be in
        writing and shall be delivered in person, mailed by certified or registered
        mail, return receipt requested, or sent by telecopier, addressed (i) if to
        the
        Company, at Shiner International, Inc., 19/F Didu Building Pearl River Plaza,
        No. 2 North Longkun Road, Haikou, Hainon Province, China 570125, Attn: Mr.
        Fu
        Jian, CEO, phone 86-898-68581104, facsimile 86-898-68585861; and (ii) if
        to any
        holder of Registrable Securities, to it at such address as may have been
        furnished to the Company in writing by such holder; or, in any case, at such
        other address or addresses as shall have been furnished, in writing to the
        Company (in the case of a holder of Registrable Securities) or to the holders
        of
        Registrable Securities (in the case of the Company) in accordance with the
        provisions of this paragraph.

       

      (c)  This
        Agreement shall be governed by and construed under the laws of the Commonwealth
        of Pennsylvania as applied to agreements among Pennsylvania residents entered
        into and to be performed entirely within Pennsylvania. The Company (1) agrees
        that any legal suit, action or proceeding arising out of or relating to this
        Agreement shall be instituted exclusively in any state court located in
        Philadelphia, Pennsylvania, or in the United States District Court for the
        Eastern District of Pennsylvania, (2) waives any objection which the Company
        may
        have now or hereafter to the venue of any such suit, action or proceeding,
        and
        (3) irrevocably consents to the jurisdiction of any state court located in
        Philadelphia, Pennsylvania, and the United States District Court for the
        Eastern
        District of Pennsylvania in any such suit, action or proceeding. The Company
        further agrees to accept and acknowledge service of any and all process which
        may be served in any such suit, action or proceeding in any state court located
        in Philadelphia, Pennsylvania, or in the United States District Court for
        the
        Eastern District of Pennsylvania and agrees that service of process upon
        the
        Company mailed by certified mail to the Company’s address shall be deemed in
        every respect effective service of process upon the Company, in any such
        suit,
        action or proceeding. THE PARTIES HERETO AGREE TO WAIVE THEIR RESPECTIVE
        RIGHTS
        TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT
        OF
        THIS AGREEMENT OR ANY DOCUMENT OR AGREEMENT CONTEMPLATED HEREBY.

       

      
        
           

        

        
          9

          
            

          

        

        
           

        

      

      (d)  In
        the
        event of a breach by the Company or by the Investor, of any of their obligations
        under this Agreement, the Investor or the Company, as the case may be, in
        addition to being entitled to exercise all rights granted by law and under
        this
        Agreement, including recovery of damages, will be entitled to specific
        performance of its rights under this Agreement. The Company and the Investor
        agree that monetary damages would not provide adequate compensation for any
        losses incurred by reason of a breach by it of any of the provisions of this
        Agreement and hereby further agrees that, in the event of any action for
        specific performance in respect of such breach, it shall waive the defense
        that
        a remedy at law would be adequate.

       

      (e)  This
        Agreement may not be amended or modified without the written consent of the
        Company and the Investor.

       

      (f)  Failure
        of any party to exercise any right or remedy under this Agreement or otherwise,
        or delay by a party in exercising such right or remedy, shall not operate
        as a
        waiver thereof. No waiver shall be effective unless and until it is in writing
        and signed by the party granting the waiver.

       

      (g)  This
        Agreement may be executed in two or more counterparts, each of which shall
        be
        deemed an original, but all of which together shall constitute one and the
        same
        instrument. This Agreement, once executed by a party, may be delivered to
        the
        other party hereto by facsimile transmission of a copy of this Agreement
        bearing
        the signature of the party so delivering this Agreement.

       

      (h)  If
        any
        provision of this Agreement shall be held to be illegal, invalid or
        unenforceable, such illegality, invalidity or unenforceability shall attach
        only
        to such provision and shall not in any manner affect or render illegal, invalid
        or unenforceable any other provision of this Agreement, and this Agreement
        shall
        be carried out as if any such illegal, invalid or unenforceable provision
        were
        not contained herein.

       

      (i)  This
        Agreement constitutes the entire contract among the Company and the Investor
        relative to the subject matter hereof and supersedes in its entirety any
        and all
        prior agreements, understandings and discussions with respect
        thereto.

       

      
        
           

        

        
          10

          
            

          

        

        
           

        

      

      (j)  The
        headings of the sections of this Agreement are for convenience and shall
        not by
        themselves determine the interpretation of this Agreement.

       

      

       

      

       

      

       

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        OF PAGE INTENTIONALLY LEFT BLANK]

       

      

       

      

       

      
        
           

        

        
          11

          
            

          

        

        
           

        

      

       

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

       

      COMPANY

       

      SHINER
        INTERNATIONAL, INC.

       

      By: 
        _________________________________

      Name:
        Fu
        Jian

      Title:
        Chief Executive Officer

       

      

       INVESTOR

       

      

      _____________________________ 
        

      

      

      By: 
        __________________________________

      Name:

      Title:Unassociated Document

     

    
      Exhibit
        10.2

      SHINER
        INTERNATIONAL, INC.

      

      FORM
        OF SUBSCRIPTION
        AGREEMENT

      

      

      This
        Subscription Agreement pertains to the offering by Shiner International,
        Inc.
        (the “Company”)
        of up
        to Three Million Five Hundred Thousand (3,500,000) units (the “Units”),
        with
        each Unit consisting of one (1) share of the Company’s common stock (the
“Shares”)
        and
        warrants to purchase fifteen percent (15%) of one (1) share of the Company’s
        common stock at an exercise price of Six Dollars ($6.00) per share (the
“Warrants”),
        at a
        purchase price of Three Dollars ($3.00) per Unit for an aggregate offering
        of a
        minimum of Three Million Dollars ($3,000,000) and up to a maximum of Ten
        Million
        Five Hundred Thousand Dollars ($10,500,000) (the “Offering”).
        The
        minimum subscription that the Company will accept from any investor is Ten
        Thousand (10,000) Units for a purchase price of Thirty Thousand Dollars
        ($30,000). The Company is making this offering solely to accredited investors
        (as defined under Rule 501(a) of Regulation D promulgated under the
        Securities Act of 1933, as amended (the “Securities
        Act”)).

       

      The
        undersigned, intending to be legally bound, hereby offers to pur-chase from
        the
        Company ________________ Units
        for
        an aggregate purchase price of $_______________.

       

      The
        Company will be deemed to have accepted this offer upon execution by it of
        the
        Receipt and Acceptance attached to this Subscription Agreement. This
        subscription is submitted to the Company subject to its acceptance and in
        accordance with, and subject to, the terms and conditions described in, this
        Subscription Agreement.

       

      1.  Definitions.
        In
        addition to the terms defined elsewhere in this Subscription Agreement, for
        all
        purposes of this Subscription Agreement, the following terms shall have the
        meanings indicated in this Section 1:

       

      “Affiliate”
        means
        any Person that, directly or indirectly through one or more intermediaries,
        controls or is controlled by or is under common control with a Person, as
        such
        terms are used in and construed under Rule 144.

       

      “Commission”
        means
        the Securities and Exchange Commission.

       

      “Exchange
        Act”
        means
        the Securities Exchange Act of 1934, as amended.

       

      “GAAP”
        means
        U.S. generally accepted accounting principles.

       

      “Person”
        means an
        individual or corporation, partnership, trust, incorporated or unincorporated
        association, joint venture, limited liability company, joint stock company,
        government (or an agency or subdivision thereof) or other entity of any
        kind.

       

      “Securities
        Act”
        means
        the Securities Act of 1933, as amended.

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      “Transaction
        Documents”
        means
        this Subscription Agreement, the Warrants, the Registration Rights Agreement
        and
        any other documents or agreements executed in connection with the transactions
        contemplated hereunder.

       

      “Warrant
        Shares” means
        the
        shares of Common Stock issuable upon exercise of the Warrants.

       

      2.  Verification
        of Investor Suitability under Regulation D. The
        undersigned understands that in order to subscribe for the Units in this
        Offering, the undersigned must be an “accredited investor” as defined in Section
        501 of Regulation D under the Securities Act and the undersigned hereby
        represents and warrants that it is an “accredited investor” as such item is
        defined in Rule 501(a) promulgated under the Securities Act. Furthermore,
        the
        Company understands that, as a condition to the Company’s acceptance of this
        subscription, the undersigned must complete a Purchaser Questionnaire in
        the
        form of Exhibit “A” hereto.

       

      3.  Amount
        and Method of Payment.
        The
        purchase price for the Units is __________ Dollars ($_______) and shall be
        paid
        by tender of a check made payable to Shiner International, Inc. or wire transfer
        of immediately available funds to the special segregated account set forth
        on
        the last page hereof (the “Segregated
        Account”)
        in the
        amount of _________________ Dollars ($________) (the “Purchase
        Price”).
        All
        proceeds of this Offering will be deposited in the Segregated Account and
        will
        not be released to the Company until gross proceeds of at least Three Million
        Dollars ($3,000,000) have been deposited into the Segregated Account. If
        this
        amount is not received before December 31, 2007, then the Purchase Price
        shall
        be returned to the undersigned in full without interest unless the Company
        determines, in its sole discretion, to extend the offering period. Affiliates
        of
        the Placement Agents and the Company may purchase Units for their own account.
        Such purchases will be included in determining whether the minimum amount
        of
        this Offering has been sold.

       

      4.  Acceptance
        of Subscription.

       

      (a)  The
        undersigned understands and agrees that the Company, in its sole discretion,
        reserves the right to accept or reject this or any other subscription for
        Units
        in whole or in part at any time prior to the Closing (as defined
        below).

       

      (b)  In
        the
        event that this subscription is rejected in whole or in part, the Company
        shall
        promptly return all or the applicable portion of the Purchase Price without
        interest to the undersigned, as the case may be, and this Subscription
        Agree-ment shall thereafter have no force or effect except with respect to
        the
        portion, if any, of this subscription that is accepted by the
        Company.

       

      5.  Registration
        Rights.

       

      Concurrently
        with the execution of this Subscription Agreement, the Company and the
        undersigned have entered into a Registration Rights Agreement regarding the
        Shares and the Warrant Shares. 

       

      
        
           

        

        
          2

          
            

          

        

        
           

        

      

      6.  Restrictions
        on Resale or Transfer.

       

      (a)  The
        Units, Shares, Warrants and Warrant Shares have not been registered under
        the
        Securities Act or any state securities laws, and may not be sold or transferred
        unless (i) such sale or transfer is subsequently registered thereunder;
        (ii) the undersigned shall have delivered to the Company an opinion of
        counsel (which opinion and counsel shall be reasonably acceptable to the
        Company) to the effect that the securities to be sold or transferred may
        be sold
        or transferred pursuant to an exemption from such registration; or
        (iii) the securities are sold pursuant to Rule 144 promulgated under
        the Securities Act (or a successor rule).

       

      (b)     
        The
        certificate(s) representing the Shares and the Warrant Shares and the Warrants
        shall each bear restrictive legends in substantially the following form (and
        a
        stop-transfer order may be placed against transfer of the certificates for
        such
        securities):

       

      “The
        securities represented by this certificate have not been registered under
        the
        Securities Act of 1933, as amended (the “Securities
        Act”),
        or
        applicable state securities laws, and may not be offered for sale, sold,
        transferred or assigned in the absence of an effective registration statement
        for the securities under the Securities Act, or an opinion of counsel, in
        form,
        substance and scope reasonably acceptable to the Company, that registration
        is
        not required under the Securities Act or unless sold pursuant to Rule 144
        under
        the Securities Act.”

      

      7.  Delivery
        of the Stock Certificate and Warrants.
        The
        Company will execute and deliver certificate(s) representing the Shares and
        Warrants to the subscriber within five (5) business days after the occurrence
        of
        each of the following items: (i) acceptance of the subscription by the Company;
        (ii) receipt of the Purchase Price into the Segregated Account; (iii) a closing
        of the Offering; and (iv) release to the Company of the Purchase Price from
        the
        Segregated Account.

       

      8.  Representations
        and Warranties. The
        undersigned hereby acknowledges, represents and warrants to, and agrees with,
        the Company as follows:

       

      (a)  The
        undersigned understands that the offering and sale of the Units by the Company
        to the undersigned is intended to be exempt from registration under the
        Securities Act by virtue of Section 4(2) of the Securities Act and the
        provisions of Rule 506 of Regulation D promulgated thereunder and, in accordance
        therewith and in furtherance thereof, the undersigned represents and warrants
        to
        and agrees with the Company as follows:

       

      (i)  The
        undersigned has carefully reviewed this Subscription Agreement and the
        Confidential Purchaser Questionnaire attached as Exhibit “A” hereto, the Form of
        Stock Purchase Warrant attached as Exhibit “B” hereto, the Registration Rights
        Agreement attached as Exhibit “C” hereto and the Confidential Private Offering
        Memorandum attached as Exhibit “D” hereto, and understands the information
        contained in each such document including, but not limited to, the Company’s
        audited financial statements dated as of December 31, 2006 and for the year
        then
        ended included in Exhibit “D” and its unaudited financial statements dated as of
        March 31, 2007 and for the quarter then ended included in Exhibit
“D.”

       

      
        
           

        

        
          3

          
            

          

        

        
           

        

      

      (ii)  All
        documents, records and books pertaining to the Company and/or this investment
        that the undersigned has requested have been made available for inspection
        by
        him and/or his attorney, accountant and other advisor(s);

       

      (iii)  The
        undersigned and/or his advisor(s) have had a reasonable opportunity to ask
        questions of and receive information and answers from a person or persons
        acting
        on behalf of the Company concerning the offering of the Units and all such
        questions have been answered and all such information has been provided to
        the
        full satisfaction of the undersigned;

       

      (iv)  Neither
        the undersigned nor the undersigned’s investment advisors, if any, have been
        furnished any offering literature other than this Subscription Agreement
        and the
        exhibits attached hereto and the undersigned and the undersigned’s advisors, if
        any, have relied only on the information contained in this Subscription
        Agreement and the exhibits attached hereto and the information, as described
        in
        subparagraphs (ii) and (iii) above, furnished or made available to them by
        the
        Company;

       

      (v)  No
        oral
        or written representations have been made and no oral or written information
        has
        been furnished to the undersigned or his advisor(s) in connection herewith
        that
        were in any way inconsistent with the information set forth in this Subscription
        Agreement and the exhibits attached hereto;

       

      (vi)  The
        undersigned is not subscribing for the Units as a result of or subsequent
        to any
        advertisement, article, notice or other communication published in any
        newspaper, magazine or similar media or broadcast over television or radio,
        or
        presented at any seminar or meeting;

       

      (vii)  The
        undersigned acknowledges that he has conducted his own independent evaluation
        of
        the Company and has analyzed the risks associated with an investment in the
        Units and has based his decision to invest in the Units on the results of
        this
        evaluation and analysis;

       

      (viii)  The
        undersigned’s overall commitment to investments that are not readily market-able
        is not disproportionate to the undersigned’s net worth and the undersigned’s
        investment in the Company will not cause such overall commitment to become
        disproportionate to the undersigned’s net worth;

       

      (ix)  If
        the
        undersigned is a natural person, the undersigned has reached the age of
        ma-jority in the jurisdiction in which the undersigned resides, has adequate
        net
        worth and means of providing for the undersigned’s current financial needs and
        personal contingencies, is able to bear the substantial economic risks of
        an
        investment in the Units for an indefinite period of time, has no need for
        liquidity in such investment and, at the present time, could afford a complete
        loss of such investment;

       

      
        
           

        

        
          4

          
            

          

        

        
           

        

      

      (x)  The
        address set forth below is the undersigned’s true and correct residence (or, if
        not an individual, domiciliary) address;

       

      (xi)  The
        undersigned (A) has such knowledge of, and experience in, business and financial
        matters so as to enable him to utilize the information made available to
        him in
        connection with the offering of the Units in order to evaluate the merits
        and
        risks of an investment in the Units and to make an informed investment decision
        with respect thereto, (B) the undersigned has carefully evaluated the risks
        of
        investing and (C) has the capacity, either alone, or with a professional
        advisor, to protect his own interests in connection with a purchase of the
        Units;

       

      (xii)  The
        undersigned is not relying on the Company with respect to the economic
        considerations of the undersigned relating to this investment. In regard
        to such
        considerations, the investor has relied on the advice of, or has consulted
        with,
        only his own advisor(s). The undersigned recognizes that the information
        furnished by the Company does not constitute investment, accounting, legal
        or
        tax advice. The undersigned is relying on professional advisors for such
        advice;

       

      (xiii)  The
        undersigned is acquiring the Units solely for his own account as principal,
        for
        investment purposes only and not with a view to the resale or distribution
        thereof, in whole or in part, and no other person has a direct or indirect
        beneficial interest in such Units;

       

      (xiv)  The
        undersigned understands that the certificate(s) evidencing ownership of the
        Shares and the Warrant Shares and the Warrants will each bear a restrictive
        legend and have not been registered under the Securities Act or any state
        securities laws, and may not be sold or transferred unless (i) such sale or
        transfer is subsequently registered thereunder; (ii) the undersigned shall
        have delivered to the Company an opinion of counsel (which opinion and counsel
        shall be reasonably acceptable to the Company) to the effect that the securities
        to be sold or transferred may be sold or transferred pursuant to an exemption
        from such registration; or (iii) the securities are sold pursuant to
        Rule 144 promulgated under the Securities Act (or a successor
        rule);

       

      (xv)  The
        undersigned understands that the price of the Units has been determined
        arbitrarily by the Company and may not be indicative of the true value of
        the
        Units. The undersigned understands that no assurances can be given that the
        Shares, the Warrants or the Warrant Shares could be resold by the Subscriber
        for
        the subscription price or any price and he/she/it has made an independent
        determination of the fairness of the subscription price; and

       

      (xvi)  The
        undersigned has completed and returned to the Company a Purchaser Questionnaire,
        in the form attached as Exhibit “A” hereto. The information provided by the
        undersigned in the Purchaser Questionnaire is true and correct and the
        undersigned understands that the Company is relying upon such information
        in
        connection with the purchase of the Units by the undersigned.

       

      
        
           

        

        
          5

          
            

          

        

        
           

        

      

      (b)  The
        undersigned recognizes that an investment in the Units involves a number
        of
        signifi-cant risks including, but not limited to, those risks described in
        Exhibit “D” hereto.

       

      (c)  The
        undersigned understands that no federal or state agency has passed upon the
        Units or made any finding or determination as to the fairness of this investment
        in the Units.

       

      (d)  All
        information that the undersigned has heretofore furnished and furnishes herewith
        to the Company are true, correct and complete as of the date of execution
        of
        this Subscription Agreement and if there should be any material change in
        such
        information prior to the closing of the sale of the Units (the “Closing”),
        the
        undersigned will immediately furnish such revised or corrected informa-tion
        to
        the Company.

       

      (e)  The
        undersigned acknowledges and agrees that the Company intends to pay commissions
        to any registered broker/dealer or finder designated a selected dealer on
        all
        sales to qualified accredited investors that it refers to the Company. These
        commissions will consist of (i) cash equal to eight percent (8%) of the gross
        proceeds received by the Company from such sales, plus (ii) a warrant to
        purchase that number of shares of common stock equal to fifteen percent (15%)
        of
        the aggregate Units sold in the Offering by such registered broker/dealer
        or
        finder in the form attached as Exhibit “B” hereto.

       

      (f)  The
        foregoing representations, warranties and agreements, together with all other
        representations and warranties made or given by the undersigned to the Company
        in any other written statement or document delivered in connection with the
        transactions contemplated hereby, shall be true and correct in all respects
        on
        and as of the date of the Closing as if made on and as of such date and shall
        survive such date. If more than one person is signing this Subscription
        Agreement, each representation, warranty and undertaking herein shall be
        the
        joint and several representation, warranty and undertaking of each such
        person.

       

      9.  Representations
        and Warranties of the Company.
        The
        Company hereby acknowledges, represents and warrants to, and agrees with,
        the
        undersigned as follows:

       

      (a) Organization
        and Qualification.
        The
        Company is duly incorporated or otherwise organized, validly existing and
        in
        good standing under the laws of the jurisdiction of its incorporation or
        organization, with the requisite power and authority to own and use its
        properties and assets and to carry on its business as currently conducted.
        The
        Company is not in violation of any of the provisions of its certificate or
        articles of incorporation, bylaws or other organizational or charter documents.
        The Company is duly qualified to conduct its business and is in good standing
        as
        a foreign corporation or other entity in each jurisdiction in which the nature
        of the business conducted or property owned by it makes such qualification
        necessary.

       

      (b) Authorization;
        Enforcement.
        The
        Company has the requisite corporate power and authority to enter into and
        to
        consummate the transactions contemplated by each of the Transaction Documents
        and otherwise to carry out its obligations thereunder. The execution and
        delivery of each of the Transaction Documents by the Company and the
        consummation by it of the transactions contemplated thereby have been duly
        authorized by all necessary action on the part of the Company and no further
        action is required by the Company in connection therewith. Each Transaction
        Document has been (or upon delivery will have been) duly executed by the
        Company
        and, when delivered in accordance with the terms hereof, will constitute
        the
        valid and binding obligation of the Company enforceable against the Company
        in
        accordance with its terms, except as such enforceability may be limited by
        applicable bankruptcy, insolvency, reorganization, moratorium, liquidation
        or
        similar laws relating to, or affecting generally the enforcement of, creditors’
rights and remedies or by other equitable principles of general application.
        

       

      
        
           

        

        
          6

          
            

          

        

        
           

        

      

      (c) No
        Conflicts.
        The
        execution, delivery and performance of the Transaction Documents by the Company
        and the consummation by the Company of the transactions contemplated thereby
        do
        not and will not (i) conflict with or violate any provision of the Company’s
        certificate or articles of incorporation, bylaws or other organizational
        or
        charter documents, or (ii) conflict with, or constitute a default (or an
        event
        that with notice or lapse of time or both would become a default) under,
        or give
        to others any rights of termination, amendment, acceleration or cancellation
        (with or without notice, lapse of time or both) of, any agreement, credit
        facility, debt or other instrument (evidencing a Company debt or otherwise)
        or
        other understanding to which the Company is a party or by which any property
        or
        asset of the Company is bound or affected, or (iii) result in a violation
        of any
        law, rule, regulation, order, judgment, injunction, decree or other restriction
        of any court or governmental authority to which the Company is subject
        (including federal and state securities laws and regulations), or by which
        any
        property or asset of the Company is bound or affected.

       

      (d) Filings,
        Consents and Approvals.
        The
        Company is not required to obtain any consent, waiver, authorization or order
        of, give any notice to, or make any filing or registration with, any court
        or
        other federal, state, local, foreign or other governmental authority or other
        Person in connection with the execution, delivery and performance by the
        Company
        of the Transaction Documents, other than (i) the filing with the Commission
        of
        one or more Registration Statements in accordance with the requirements of
        the
        Registration Rights Agreement, (ii) filings required by state securities
        laws,
        (iii) the filing of a Notice of Sale of Securities on Form D with the Commission
        under Regulation D of the Securities Act, and (iv) those that have been made
        or
        obtained prior to the date of this Subscription Agreement.

       

      (e) Issuance
        of the Units.
        The
        Units have been duly authorized and, when issued and paid for in accordance
        with
        the Transaction Documents, will be duly and validly issued, fully paid and
        nonassessable, free and clear of all liens and encumbrances. The Company
        has
        reserved from its duly authorized capital stock the shares of Common Stock
        issuable pursuant to this Agreement and the Warrants in order to issue the
        Shares and the Warrant Shares.

       

      10.  Indemnification.
        The
        undersigned agrees to indemnify and hold harmless the Company and the officers
        and directors thereof and each other person, if any, who controls the Company,
        within the meaning of Section 15 of the Securities Act, against any and all
        loss, liability, claim, damage and expense whatsoever (including, but not
        limited to, any and all expenses reasonably incurred in investigating, preparing
        or defending against any litigation commenced or threatened or any claim
        whatsoever) arising out of or based upon any false representations or warranty
        or breach or failure by the undersigned to comply with any covenant or agreement
        made by the undersigned herein or in any other document furnished by the
        undersigned to the Company in connection with this transaction.

       

      
        
           

        

        
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      11.  Additional
        Information. The
        undersigned hereby acknowledges and agrees that the Company may make or cause
        to
        be made such further inquiry and obtain such addi-tional information as it
        may
        deem appropriate with regard to the suitability of the undersigned as an
        investor in the Units.

       

      12.  Binding
        Effect.
        The
        undersigned hereby acknowledges and agrees that, except as provided under
        applicable state securities laws, the subscription hereunder is irrevocable,
        that the undersigned is not entitled to cancel, terminate or revoke this
        Subscription Agreement or any agreements of the undersigned hereunder and
        that
        this Subscription Agreement and such other agreements shall survive the death
        or
        disability of the undersigned and shall be binding upon and inure to the
        benefit
        of the parties and their heirs, executors, administrators, successors, legal
        representatives and assigns. If the undersigned is more than one person,
        the
        obligations of the undersigned hereunder shall be joint and several and the
        agreements, representations, warranties and acknowledgments herein contained
        shall be deemed to be made by and be binding upon each such person and
        his/her/its heirs, executors, admin-istrators, successors, legal representatives
        and assigns.

       

      13.  Modification.
        Neither
        this Subscription Agreement nor any provisions hereof shall be waived, modified,
        discharged or terminated except by an instrument in writing signed by the
        party
        against whom any such waiver, modification, discharge or termination is
        sought.

       

      14.  Notices.
        Any
        notice, demand or other communication that any party hereto may be required,
        or
        may elect, to give to any other party hereunder shall be sufficiently given
        if
        (a) deposited, postage prepaid, in a United States mail box, stamped, registered
        or certified mail, return receipt requested, addressed to such address as
        may be
        listed on the books of the Company, or (b) delivered personally at such
        address.

       

      15.  Counterparts.
        This
        Subscription Agreement may be executed through the use of separate signature
        pages or in any number of counterparts, and each of such counterparts shall,
        for
        all purposes, constitute one agreement binding on all parties, notwithstanding
        that all parties are not signatories to the same counterpart. This Subscription
        Agreement may be executed and delivered via electronic facsimile transmission
        with the same force and effect as if it were executed and delivered by the
        parties simultaneously in the presence of one another.

       

      16.  Entire
        Agreement.
        This
        Subscription Agreement contains the entire agreement of the parties with
        respect
        to the subject matter hereof and there are no representations, covenants
        or
        other agreements except as stated or referred to herein.

       

      17.  Severability.
        Each
        provision of this Subscription Agreement is intended to be severable from
        every
        other provision, and the invalidity or illegality of any provision shall
        not
        affect the validity or legality of the remaining provisions.

       

      
        
           

        

        
          8

          
            

          

        

        
           

        

      

      18.  Assignability.
        This
        Subscription Agreement is not transferable or assignable by the
        undersigned.

       

      19.  Applicable
        Law.
        This
        Subscription Agreement shall be governed by and construed in accordance with
        the
        laws of the Commonwealth of Pennsylvania as applied to residents of that
        jurisdiction executing contracts wholly to be performed therein.

       

      20.  Choice
        of Jurisdiction.
        The
        undersigned agrees that any action or proceeding directly or indirectly relating
        to or arising out of this Subscription Agreement, any breach hereof, or any
        transaction covered hereby shall be resolved, whether by arbitration or
        otherwise, within the Commonwealth of Pennsylvania. Accordingly, the parties
        consent and submit to the jurisdiction of the state courts of the Commonwealth
        of Pennsylvania located within Philadelphia, Pennsylvania or the United States
        federal courts located in the Eastern District of Pennsylvania. The parties
        further agree that any such relief whatsoever in connection with this
        Subscription Agreement shall be commenced by such party exclusively in the
        state
        courts of the Commonwealth of Pennsylvania located within Philadelphia,
        Pennsylvania or the United States federal courts located in the Eastern District
        of Pennsylvania.

       

      21.  Reimbursement.
        If any
        action or other proceeding is brought for the enforcement of this Subscription
        Agreement or because of an alleged dispute, breach, default or misrepresentation
        in connection with any of the provisions of this Subscription Agreement,
        the
        suc-cessful or prevailing party or parties shall be entitled to recover
        reasonable attorney’s fees and other costs incurred in such action or proceeding
        in addition to any other relief to which they may be entitled.

       

      22.  Further
        Assurances.
        Each of
        the parties shall execute said documents and other instruments and take such
        further actions as maybe reasonably required or desirable to carry out the
        provisions hereof and the transactions contemplated hereby.

      
        
           

        

        
          9

          
            

          

        

        
           

        

      

      Subscription
        Information (to be completed by individual subscriber):

      

      Units
        Purchased
        ____________________________________________________________________________________________________

      

      Purchase
        Price of Units (Number of Units Purchased x $3.00 per Unit)
        ____________________________________________________________

      

      Name(s)
        in which the Units is to be registered:

      ___________________________________________________________________________________________________

      ___________________________________________________________________________________________________

      ___________________________________________________________________________________________________

       

      Home
        Address
        _____________________________________________________________________________________________________

      

      Mailing
        Address
        ____________________________________________________________________________________________________

      

      

      Form
        of
        joint ownership (if applicable). (If one of these items is checked, subscriber
        and co-subscriber must both sign all documents.):

      

      
        	
                Tenants-in-Common
                  ________________________________

              	 	
                Joint
                  Tenants
                  ________________________________

              

      

      

      

      IN
        WITNESS WHEREOF,
        the
        undersigned has caused this Subscription Agreement to be duly executed on
        the
        ____ day of ___________, 2007.

       

      

      

      
        	 	 	 	 	 
	
                Please
                  Print Name of Subscriber

              	 	
                Signature
                  of Subscriber

              	 	
                Social
                  Security Number

              
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	
                Please
                  Print Name of Co-Subscriber

              	 	
                Signature
                  of Co-Subscriber

              	 	
                Social
                  Security Number

              

      

      

      

      

      

      [ATTACH
        CHECK HERE]

      

      
        
           

        

        
          10

          
            

          

        

        
           

        

      

      THIS
        PORTION NOT TO BE COMPLETED BY SUBSCRIBER

      

      
        
          

        

      RECEIPT
        AND ACCEPTANCE

      

      CASH
        OR
        CHECK AND SUBSCRIPTION AGREEMENT RECEIVED ON ______________,
        2007.

      

      By:
        _________________________________

      

      SUBSCRIPTION
        ACCEPTED ON __________________,
        2007.

      

      SHINER
        INTERNATIONAL, INC.

      

      

      By:_________________________________

      Name:

      Title:

      

      
        
          

        

      WIRE
        TRANSFER INSTRUCTIONS

      

      If
        Subscriber wishes to wire transfer the purchase price of his Units, he or
        she
        shall wire transfer immediately available funds in the amount of the Purchase
        Price subscribed for hereunder, as follows: 

      

      Bank: Commerce
        Bank, NA

      

      Account
        Name: Shiner
        International Inc.

      

      Account
        No.: #372004010

      

      Bank
        Routing No.: #036001808

      

      Swift
        Code: CBNAUS33

      

      
        
           

        

        
          11

          
            

          

        

        
           

        

      

      EXHIBIT
        A

      

      CONFIDENTIAL
        PURCHASER QUESTIONNAIRE

      

      
        
           

        

        
          12

          
            

          

        

        
           

        

      

      EXHIBIT
        B

      

      FORM
        OF STOCK PURCHASE WARRANT

      

      
        
           

        

        
          13

          
            

          

        

        
           

        

      

       

      EXHIBIT
        C

      

      FORM
        OF REGISTRATION RIGHTS AGREEMENT

      

      
        
           

        

        
          14

          
            

          

        

        
           

        

      

       

      EXHIBIT
        D

      

      CONFIDENTIAL
        PRIVATE OFFERING MEMORANDUM

      

      
        
           

        

        
          15

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