Document:

exv10w9

Exhibit 10.9

Agreement on Acquisition of All the Equity Interest

in Shanghai Nobo Energy Technology Co., Ltd.

Party A: Guo Wei

Party B: Sang Jinlai

Party C: Eastern Well Holdings Limited

     Through friendly consultation between Eastern Well Holdings Limited (Hong Kong) and Guo Wei
and Sang Jinlai, shareholders of Shanghai Nobo Energy Technology Co., Ltd., in accordance with the
provisions of the Interim Provisions on Merger or Acquisition of Domestic Enterprises by Foreign
Investors, the Law of the People’s Republic of China on Foreign Investment Enterprises, the Company
Law as well as the resolutions adopted at the shareholders’ meeting and the executive directors’
meeting of Shanghai Nobo Energy Technology Co., Ltd., and according to the principles of equality
and mutual benefit, Party A has come to agree to transfer to Party C all of the 90% equity interest
he holds in Shanghai Nobo Energy Technology Co., Ltd. in the amount of RMB 9 million, Party B has
come to agree to transfer to Party C all of the 10% equity interest he holds in Shanghai Nobo
Energy Technology Co., Ltd. in the amount of RMB 1 million, and Party C has come to agree to accept
all the equity interest Party A and Party B will transfer to it. Party A, Party B and Party C
hereby enter into this Agreement and undertake to abide by it.

     Article 1 Parties to this Agreement

     Party A: Guo Wei

     Address: No. 14, Alley 588, Julu Road, Jing’an District

     Nationality: China

     Party B: Sang Jinlai

     Address: Unit 2601, No. 3, Alley 812, Changde Road, Jing’an District

     Nationality: China

     Party C: Eastern Well Holdings Limited

     Legal Address: 18/F, Siu Ying Commercial Building, 151-155 Queen’s Road Central, Hong Kong

     Nationality/Region: Hong Kong, China

     Legal Representative: Kwok Ping Sun

     Brief Description of this company: Eastern Well Holdings Limited (Hong Kong) is engaged mainly
in the distribution and installation of cooling and heating equipment and the design of
ground-source heat pump projects and the import and export thereof.

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     Article 2 Percentages of Equity Interest to Be Acquired and Prices for Such Acquisition

     Through consultation between the parties, Party A agrees to transfer to Party C all of the 90%
equity interest he holds in Shanghai Nobo Energy Technology Co., Ltd., i.e. the registered capital
of this company in the amount of RMB 9 million, together with all the rights and obligations
attached thereto; and Party B agrees to transfer to Party C all of the 10% equity interest he holds
in Shanghai Nobo Energy Technology Co., Ltd., i.e. the registered capital of this company in the
amount of RMB 1 million, together with all the rights and obligations attached thereto. Both Party
A and Party B hereby waive their respective right of first refusal to acquire such equity interest.

     Upon transfer of all the equity interest in Shanghai Nobo Energy Technology Co., Ltd., this
company shall be transformed from a domestic joint venture enterprise into an enterprise funded by
Hong Kong investors and the name of this company shall be changed to Shanghai Nobo Commerce & Trade
Co., Ltd. Party A and Party B shall cease to be shareholders of this company and Party B shall
become the sole shareholder that holds 100% of the equity interest in the newly established
Shanghai Nobo Commerce & Trade Co., Ltd.

     Article 3 Period and Method for Performance of this Agreement

     Effectiveness of this Agreement:

     This Agreement shall become effective upon approval by the municipal foreign investment
approval authority of the transfer of all the equity interest in Shanghai Nobo Energy Technology
Co., Ltd.

     Upon receipt of the official reply to, and the certificate of approval of, the establishment
of Shanghai Nobo Commerce & Trade Co., Ltd., Party C shall handle the procedure for registration
modification with the Administration for Industry and Commerce and, within 3 months of receipt of
the business license of this company after approval of registration modification by the
Administration for Industry and Commerce, it shall remit in cash in one lump sum Hong Kong dollar
equivalent of RMB 10 million, which accounts for 100% of the price for transfer of equity interest,
to the bank accounts designated by Party A and Party B, respectively.

     Article 4 Rights and Obligations of the Parties

     Party A and Party B shall provide all the relevant materials and documents to be involved in
the transfer of equity interest, which Party A and Party B are obligated to provide, and assist
Party C in handling the procedures for application for approval of registration modification with
the Administration for Industry and Commerce.

     Party C shall provide all the relevant materials and documents to be involved in the transfer
of equity interest, which Party B is obligated to provide.

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     Party C undertakes that (i) it will assume all the existing creditor’s rights and liabilities
of Party A upon transformation of Shanghai Nobo Energy Technology Co., Ltd. into an enterprise
funded by Hong Kong investors; (ii) it will keep all the existing employees of Shanghai Nobo Energy
Technology Co., Ltd. in its employment in accordance with the relevant provisions of the Labor Law
of the People’s Republic of China; and (iii) it will pay the price for transfer of equity interest
within the time limit as specified in Article 3 of this Agreement.

     Article 5 Liability for Breach of Contract and Dispute Resolution

     If any breach of contract by any party to this Agreement renders it impossible to perform this
Agreement or to perform it fully, the liability that may arise from such breach of contract shall
be assumed by the breaching party. If all of the parties to this Agreement violate this Agreement,
the provisions of the Contract Law of the People’s Republic of China on liability for breach of
contract shall be applicable thereto.

     The conclusion, validity, interpretation and performance of this Agreement and the resolution
of disputes under this Agreement shall be governed by laws of the People’s Republic of China.

     If any dispute arises out of performance of this Agreement or relating to this Agreement, the
parties shall settle such dispute through friendly consultation. If such consultation proves
unsuccessful, the dispute shall be submitted to the Shanghai Branch of the China International
Economic and Trade Arbitration Commission for arbitration in accordance with the arbitration rules
of this commission in effect at the time of the application for such arbitration. The arbitral
award shall be final and binding on all the parties.

     Article 6 Time and Venue of Execution of this Agreement

     This Agreement was executed on March      , 2008 at the registered address of Shanghai Nobo
Energy Technology Co., Ltd.

     This Agreement is executed in six counterparts, all of which shall have equal effect and
validity, one of which shall be kept by each party and the rest of which shall be used in handling
the procedures for examination and approval by the competent government authorities and for
registration modification with the Administration for Industry and Commerce.

Party A: Guo Wei (Signature and Corporate Seal of Shanghai Nobo Energy Technology Co., Ltd.)

Date: March 5, 2008

Party B: Sang Jinlai (Signature)

Date: March 5, 2008

Party C: Eastern Well Holdings Limited

Legal Representative: Kwok Ping Sun (Signature)

Date: March 5, 2008

3exv10w10

Exhibit 10.10

Equity Transfer Agreement

Transferor (Party A): Bright Praise Holdings Limited

Address: Unit 1006 10/F Carnarvon Plaza, 20 Carnarvon Road TST Hongkong

Legal representative: Kwok Ping Sun

Tel: 00852-27340411     Fax: 00852-30191936

Transferee (Party B): Eastern Well Holdings Limited

Address: 18/F, Sun Ying Commercial Building, 151-155 Queen’s Road Central, Hongkong

Legal representative: Kwok Ping Sun

Tel: 00852-21913683     Fax: 00852-21849811

Party A and Party B have reached through friendly consultation the following agreements with
respect to the equity transfer of [Jiangxi Nobao Appliance Co., Ltd.] based on the principles of
equality and mutual benefit (this “Agreement”).

Article 1 Transfer Price

1.1 Party A agrees to transfer the 100% equities of Jiangxi Nobao Appliance Co., Ltd. in its
possession to Party B and Party B agrees to accept the transfer in the following manner: Party B
will repay the capital contribution of USD540,000 that Party A has made within 1 year as of the
date hereof; with respect to the land contributed by Party A to Jiangxi Nobao Appliance Co., Ltd.
that have appreciated by several times , Party B will pay Party A USD300,000 as compensation on a
lump-sum basis within 1 year as of the date hereof.

Article 2 Warranties

2.1 Party A warrants that the equities that it intends to transfer is its true contribution to
Jiangxi Nobao Appliance Co., Ltd. and are under its lawful possession, over which Party A has full
rights of disposal. Party A warrants that no mortgage, pledge, security, or third party claim is
placed on such equities; otherwise, Party A shall be liable for all liabilities caused thereby.

2.2 Upon completion of transfer by Party A, the rights and obligation that Party A may enjoy in
Jiangxi Nobao Appliance Co., Ltd. will transfer to Party B accordingly.

2.3 Party B confirms the articles of association of Jiangxi Nobao Appliance Co., Ltd. and the
provisions hereof and warrants to perform its obligations and liabilities according to the articles
of association.

Article 3 Profit and Loss Sharing

Upon approval by the administration of industry and commerce and completion of registration of
change of shareholders, Party B shall become a shareholder of Jiangxi Nobao Appliance Co., Ltd. and
shall share the profits and losses of the company in proportion to its contribution to the company
and according to the articles of association of the company.

 

 

Article 4 Amendment and Termination

In the event of any of the following circumstances, either party may amend or terminate this
Agreement only with written agreement by the parties:

1. It is impossible to continue to perform this Agreement due to any force majeure event or any
unavoidable reason not attributable to either party;

2. Either party becomes incapable of performing this Agreement;

3. One party has or two parties have breached this Agreement, which materially affect the economic
interests of the non-breaching party and render the performance of this Agreement unnecessary;

4. The parties decide to amend or terminate this Agreement due to any change of circumstances.

Article 5 Dispute Resolution

5.1 The parties shall resolve through consultation any dispute relating to the validity,
performance, breach or termination of this Agreement.

5.2 If such consultation proves unsuccessful, either party may submit such dispute to arbitration
or litigation for resolution.

Article 6 Validity

This Agreement shall become effective as of the date when this Agreement is executed by the
parties.

This Agreement shall be in three counterparts, Party A, Party B and Jiangxi Nobao Appliance Co.,
Ltd. shall each hold one of them, all of which shall have the same legal effect.

Party A (signature): Bright Praise Holdings Limited (seal)

Date: March 28, 2008

Party B (signature): Eastern Well Holdings Limited (seal)

Date: March 28, 2008

 

 

Supplementary Agreement to Equity Transfer Agreement

Transferor (Party A): Bright Praise Holdings Limited

Address: Unit 1006 10/F Carnarvon Plaza, 20 Carnarvon Road TST Hongkong

Legal representative: Kwok Ping Sun

Tel: 00852-27340411

Transferee (Party B): Eastern Well Holdings Limited

Address: 18/F, Sun Ying Commercial Building, 151-155 Queen’s Road Central, Hongkong

Legal representative: Kwok Ping Sun

Tel: 00852-21913683     Fax: 00852-21849811

This Supplementary Agreement is made with respect to the Equity Transfer Agreement dated March 28,
2008 by Party A and Party B. Party A and Party B have reached through friendly consultation the
following supplementary agreements with respect to the equity transfer of [Jiangxi Nobao Appliance
Co., Ltd.] based on the principles of equality and mutual benefit: in addition to the Transfer
Price as set forth in the Equity Transfer Agreement, Party A will pay Party B USD1.13 as
compensation on a lump-sum basis prior to December 31, 2008. Other terms shall apply the Equity
Transfer Agreement dated March 28, 2008.

This Agreement shall be in three counterparts, Party A, Party B and Jiangxi Nobo Appliance Co.,
Ltd. shall each hold one of them, all of which shall have the same legal effect.

For and on behalf of

Bright Praise Holdings Limited

Authorized Signature: Kwok Ping Sun

Party A: Bright Praise Holdings Limited

Date: March 30, 2008

For and on behalf of

Eastern Well Holdings Limited

Authorized Signature: Kwok Ping Sun

Party B: Eastern Well Holdings Limited

Date: March 30, 2008

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