Document:

Unassociated Document

    

    ESCROW
      AGREEMENT

    

    This
      Escrow Agreement (this “Agreement”) is
      made on June ___, 2007, by and among Deli Solar (USA), Inc., a Nevada
      corporation, (the “Company”),
      and
      Tri-State Title & Escrow, LLC (the “Escrow
      Agent”).
      The
      aforementioned are also referred to individually herein as a “Party”
and
      collectively herein as the “Parties.”
      

    

    PRELIMINARY
      STATEMENTS

    

    A. The
      Company and Barron Partners, L.P., a Delaware limited partnership, Eos Holdings,
      LLC and Mathew Hayden (the “Investors”) have entered into the Securities
      Purchase Agreement dated the date hereof (the “Securities
      Purchase Agreement”),
      a
      copy of which has been delivered to the Escrow Agent, pursuant to which the
      Company will issue and sell to the Investors, and the Investors will subscribe
      for and acquire from the Company, certain Company securities for an aggregate
      purchase price of $2.75 million upon
      the
      terms and subject to the conditions set forth therein.
      Capitalized terms used in this Agreement and not otherwise defined shall have
      the meanings set forth in the Securities Purchase Agreement.

    

    B. Section
      6.15 of the Securities Purchase Agreement (the “Escrow
      Provisions”)
      provide certain rights to the Investors, to acquire additional shares of the
      Company’s Series A Preferred Stock , which shares will be deposited at the
      Closing in escrow by the Company as security for the Company’s obligations under
      Section 6.15 of the Securities Purchase Agreement. 

    

    C. The
      Escrow Provisions provide that, at the Closing, the Company shall deposit in
      escrow 900,000 shares of Series A Preferred Stock, which shares shall be held
      as
      security in the event (i) the earnings target for 2007 (the “2007
      Target”)
      set
      forth in Section 6.15.2 of the Securities Purchase Agreement is not met and
      (ii)
      the earnings target for 2008 (the “2008
      Target”)
      set
      forth in Section 6.15.4 of the Securities Purchase Agreement is not met (the
      “Escrow
      Shares”).
      

    

    D. The
      escrow fund created by the deposit of the Escrow Shares is referred to as the
      “Escrow
      Fund.”
      

    

    E. Pursuant
      to the terms of the Securities Purchase Agreement, the Company has agreed,
      as a
      condition to its obligations thereunder, to enter into this Agreement and
      establish the terms and conditions pursuant to which the Escrow Shares will
      be
      deposited, held in, and disbursed from the Escrow Fund.

    

    F. The
      Company desire to appoint the Escrow Agent to act pursuant to the terms and
      conditions set forth herein and the Escrow Agent desires to accept such
      appointment.

    

    AGREEMENT

    

    The
      Parties, intending to be legally bound, agree as follows:

    

    1.  Establishment
      of the Escrow Fund. 

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    (a)  Escrow
      Fund.
      The
      Escrow Agent agrees to (i) accept delivery of the shares of Series A Preferred
      Stock, consisting of 900,000 shares, (ii) hold such Escrow Shares subject to
      the
      terms and conditions of this Agreement and the Escrow Provisions. 

    

    (b)  Escrow
      Arrangements; Purpose.
      The
      Escrow Fund is to be held and distributed by the Escrow Agent in accordance
      with
      and subject to the provisions of this Agreement and the applicable Escrow
      Provisions. The Escrow Fund is held for the benefit of the Investors as security
      and collateral for the obligations of the Company under the Escrow Provisions,
      and in the event the 2007 Target or the 2008 Target is not met.

    

    2.  Administration
      of Escrow Fund and Tax Escrow Fund.

    

    (a)  Delivery
      of Escrow Shares.
      At
      Closing, the Escrow Shares will be delivered by the Company to the Escrow Agent
      in accordance with the applicable Escrow Provisions. 

    

    (b) Claims
      upon the Escrow Fund.
      Upon
      receipt by the Escrow Agent of
      a
      certificate from the Company, stating that (1) the
      2007
      Target or 2008 Target, as the case may be, has not been met,
      and (2)
      the number of Escrow Shares to be delivered to the Investors pursuant to Section
      6.15.3 or 6.15 .4, as the case may be of the Securities Purchase
      Agreement,
      the
      Escrow Agent shall deliver to the Investors out of the Escrow Fund, as promptly
      as practicable, in the manner and in the number of Escrow Shares as specified
      by
      the Company. The Escrow Agent shall not be required to determine or calculate
      the number of shares to be issued and
      shall
      not be obligated to issue Escrowed Shares,
      but
      rather will only deliver the Escrow Shares as instructed in the certificate
      from
      the Company to the Escrow Agent. In the event that the Escrow Agent receives
      a
      certificate from the Company, the Escrow Agent shall deliver to the Company
      such
      number of Escrow Shares as specified by the Company in the
      certificate 

    

    (c)  No
      Encumbrance.
      The
      Escrow Fund shall be held as a trust fund and shall not be subject to any
      Encumbrance, trustee process or any other judicial process of any creditor
      of
      any party hereto. Except as provided in this Agreement, no Escrow Shares or
      any
      beneficial interest in the Escrow Shares may be pledged, sold, encumbered,
      assigned or transferred, including by operation of law, by the Company or be
      taken or reached by any legal or equitable process in satisfaction of any debt
      or other liability of the Company, prior to the delivery to the Company of
      the
      Escrow Shares by the Escrow Agent, except as otherwise contemplated by this
      Agreement or the Securities Purchase Agreement. 

    

    3.  The
      Escrow Agent; Limitation of the Escrow Agent’s Liability; Fees and
      Expenses.

    

    (a)  The
      Escrow Agent is hereby appointed depositary and escrow agent for the Company
      with respect to the Escrow Funds. The Company agrees to pay Escrow Agent a
      flat
      fee of $1,000 for the services hereunder. 

    

    (b)  The
      Escrow Agent is not a party to, nor is it bound by nor need it give any
      consideration to the terms or provisions of, any agreement among the Company
      and
      the Investors. The only duties and responsibilities of the Escrow Agent
      hereunder shall be to hold the Escrow Funds as escrow agent according to the
      terms and provisions of this Agreement and to dispose of and deliver the Escrow
      Fund as provided in this Agreement. 

    

    (c)  The
      Escrow Agent shall be indemnified and held harmless by the Company, from and
      against any and all liability, including all expenses reasonably incurred in
      its
      defense, to which the Escrow Agent shall be subject by reason of any action
      taken or omitted or any investment or disbursement of any part of the Escrow
      Fund made by the Escrow Agent pursuant to this Agreement, except as a result
      of
      the Escrow Agent’s willful misconduct or material breach of this Agreement,
      provided, however, that under all circumstances, Escrow Agent shall be given
      notice of any alleged breach of this Agreement and the reasonable opportunity
      to
      cure such alleged breach, which under all circumstances shall not be less than
      ten (10) business days following receipt of notice. The reasonable costs and
      expenses of enforcing this right of indemnification shall also be paid by the
      Company. This right of indemnification shall survive the termination of this
      Agreement, and the removal or resignation of the Escrow Agent.

     

    
      
        
        

      

      
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    (d)  The
      Escrow Agent undertakes to perform only such duties as are specifically set
      forth in this Agreement, and the Escrow Agent shall not be liable except for
      the
      non performance of such duties as are specifically set forth in this Agreement,
      provided, however, that under all circumstances, Escrow Agent shall be given
      notice of any alleged breach of this Agreement and the reasonable opportunity
      to
      cure such alleged breach, which under all circumstances shall not be less than
      ten (10) business days following receipt of notice, and no implied covenants
      or
      obligations shall be read into this Agreement against the Escrow Agent. The
      Escrow Agent may consult with counsel (of its choice) regarding any of its
      duties or obligations hereunder, and shall be fully protected in any action
      taken in good faith in accordance with such advice. The Escrow Agent shall
      be
      fully protected in acting in accordance with any written instructions given
      to
      it hereunder and believed by it to have been executed by the proper party or
      parties. The Escrow Agent’s duties shall be determined only with reference to
      this Agreement and the Securities Purchase Agreement and applicable Laws. The
      Escrow Agent is not charged with any duties or responsibilities in connection
      with any other documents or agreements.

    

    (e)  Fees
      are
      payable in advance as compensation for the ordinary administrative services
      to
      be rendered hereunder and the Company agrees to pay all the fees and expenses
      of
      the Escrow Agent, including the indemnity provided in Section 3(c) hereof.
      

    

    (f)  It
      is
      understood and agreed that in the event any disagreement among the parties
      hereto results in adverse claims or demands being made in connection with the
      Escrow Fund, or in the event the Escrow Agent in good faith is in doubt as
      to
      what action it should take hereunder, the Escrow Agent shall retain the Escrow
      Fund until the Escrow Agent shall have received (i) an enforceable final
      order of a court of competent jurisdiction which is not subject to further
      appeal directing delivery of the Escrow Fund or (ii) a written agreement
      executed by the Company directing delivery of the Escrow Fund, in which event
      Escrow Agent shall disburse the Escrow Fund in accordance with such order or
      agreement. Any court order referred to in (i) above shall be accompanied by
      a legal opinion of counsel for the presenting party satisfactory to the Escrow
      Agent to the effect that said court order is final and enforceable and is not
      subject to further appeal. The Escrow Agent shall act on such court order and
      legal opinion without further question. Notwithstanding the foregoing, if Escrow
      Agent is in doubt or remains unsure of what action it should take hereunder,
      Escrow Agent shall have the right to file an interpleader action and interplead
      into a court of competent jurisdiction the Escrow Shares and all documents
      and
      instruments evidencing, pertaining or relating to the Escrow Shares and any
      other item, instrument or document held in or subject to the Escrow Fund and
      thereby Escrow Agent shall be released of its duties, responsibilities and
      obligations arising hereunder.

    

    (g)  The
      Escrow Agent may resign at any time by giving written notice thereof to the
      other parties hereto. Such resignation shall become effective 10 business days
      following the receipt of such notice and Escrow Agent shall deliver, within
      10
      business days after the effectiveness of its resignation, the Escrow Shares
      and
      all items, documents and instruments held pursuant to the Escrow Fund to its
      successor Escrow Agent. If an instrument of acceptance by a successor Escrow
      Agent shall not have been delivered to the Escrow Agent within 10 business
      days after the giving of such notice of resignation, the resigning Escrow Agent
      may, at the expense of Company, petition any court of competent jurisdiction
      for
      the appointment of a successor Escrow Agent. If any property subject hereto
      is
      at any time attached, garnished or levied upon, under any court order, or in
      case the payment, assignment, transfer, conveyance or delivery of any such
      property shall be stayed or enjoined by any court order, or in case any order,
      judgment or decree shall be made or entered by any court affecting such
      property, or any part thereof, then in any of such events, the Escrow Agent
      is
      authorized, in its sole discretion, to rely upon and comply with any such order,
      writ, judgment or decree, which it is advised by legal counsel (of its own
      choosing) is binding upon it, and if it complies with any such order, writ
      judgment or decree, it shall not be liable to any of the parties hereto or
      to
      any other person, firm or corporation by reason of such compliance, even though
      such order, writ, judgment or decree may be subsequently reversed, modified,
      annulled, set aside or vacated.

     

    
      
        
        

      

      
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    4. Notices.
      Any
      certificate or other notice to any party hereto given pursuant to this Agreement
      shall be given by fax, first-class mail or nationally recognized express
      overnight courier delivery service addressed as follows. Notices shall not
      be
      deemed to be given until actually received.

    

    If
      to the
      Escrow Agent:

     

    Tri-State
      Title & Escrow, LLC

    360
      Main
      Street

    P.O.
      Box
      391 

    Washington,
      VA 22747

    (800)
      984-2155 

    Attention:
      Johnnie L. Zarecor

    

    Telephone:
      (540) 675-2155

    Fax: (540)
      675-3155

    Email
      escrow@tristatetitle.net

    

    If
      to the
      Company:

      

    DELI
      SOLAR (USA), INC

    Building
      3 No. 28 

    Feng
      Tai
      North Road

    Beijing,
      China 100071

    Attn:
      Deli Du

    Tel:
      01186-13603160688 (Chinese)

    Tel:
      01186-13911099317
      (Chinese and English)

    Fax:
      01186-64893659

    Email:
      jianminlee@yahoo.com

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

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

    

    Guzov
      Ofsink, LLC

    600
      Madison Avenue, 14th Floor

    New
      York,
      New York  10022

    Attention:
      Darren L. Ofsink

    Telephone
      No.: (212) 371-8008

    Facsimile
      No.: (212) 688-7273

    E-mail:
      dofsink@golawintl.com

    

    5.  Incorporation
      by Reference of Portions of the Securities Purchase
      Agreement.
      The
      parties agree that the terms of the Escrow Provisions shall be deemed to be
      incorporated by reference in this Agreement as if such Sections had been set
      forth in its entirety herein. Notwithstanding the immediately preceding
      sentence, the Parties agree that the Escrow Agent’s fees and expenses shall be
      governed under this Agreement. The Parties acknowledge that the administration
      of the Escrow Fund by the Escrow Agent will require reference to both the terms
      of this Agreement as well as the terms of such Escrow Provisions. In the event
      of any conflict between this Agreement and the Escrow Provisions, the provisions
      of the Escrow Provisions shall govern.

    

    6.  General.

    (a)  Controlling
      Law; Venue.
      This
      Agreement shall be governed by and construed in accordance with the laws of
      the
      State of Virginia without regard to choice of law provisions, statutes,
      regulations or principles of this or any other jurisdiction. Each Party hereby
      irrevocably submits to the exclusive jurisdiction (including personal
      jurisdiction) of the state and federal courts of the State of Virginia for
      any
      action, suit or proceeding arising in connection with this Agreement, and agrees
      that any such action suit or proceeding shall be brought only in such court
      (and
      waives any objection based on forum non conveniens or any other jurisdiction
      to
      venue therein). Process
      in any proceeding under this Agreement may be served on any Party anywhere
      in
      the world. Notwithstanding the foregoing, nothing in this Agreement shall
      preclude the Investors the right to commence proceedings relating to this
      Agreement in any foreign jurisdiction, including the People’s Republic of
      China.

    

    (b)  Succession
      and Assignment.
      This
      Agreement shall be binding upon and inure to the benefit of the Parties named
      herein and their respective successors and permitted assigns. No Party may
      assign either this Agreement or any of his or its rights, interests, or
      obligations hereunder without the prior written approval of the other Parties
      adversely affected by such assignment; provided,
      however,
      that
      any Investor may assign any or all of its rights and interests hereunder to
      one
      or more of its Affiliates. 

    

    (c)  Counterparts.
      This
      Agreement may be executed in one or more counterparts, each of which shall
      be
      deemed an original but all of which together will constitute one and the same
      instrument.

    

    (d)  Entire
      Agreement.
      This
      Agreement constitutes the entire agreement among the Parties and supersedes
      any
      prior understandings, agreements, or representations by or among the Parties,
      written or oral, to the extent they related in any way to the subject matter
      hereof.

    

    (e)  Waivers.
      No
      amendment of any provision of this Agreement shall be valid unless the same
      shall be in writing and signed by all Parties. 

     

    
      
        
        

      

      
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    (f)   Amendment.
      This
      Agreement may be amended with the written consent of all Parties; provided,
      however,
      that if
      the Escrow Agent does not agree to an amendment agreed upon by the Company,
      it
      may resign.

    

    

    (Remainder
      of page intentionally left blank)

     

    
      
        
        

      

      
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    The
      Parties have executed and delivered this Agreement as of the date indicated
      in
      the first sentence of this Agreement.

    

    

    ESCROW
      AGENT:

    

    TRI-STATE
      TITLE & ESCROW, LLC

    

    

    

    By:
      Guy Turner

    

    Name:Guy
      W. Turner

    

    Title:
      President

    

    

    

    

    

    DELI
      SOLAR (USA), INC

    

    

    

    

    

    By:
      /s/ Deli Du

    

    Name:
      Deli Du

    

    Title:
      President and CEOUnassociated Document

    EXHIBIT
      10.4

    

    CLOSING
      ESCROW AGREEMENT

    

     

    This
      Closing Escrow Agreement, dated as of June ___, 2007 (this “Agreement”),
      is
      entered into by and among Deli Solar (USA), Inc., a Nevada corporation, (the
      “Company”),
      Barron
      Partners, L.P., a Delaware limited partnership, and any other investors named
      on
      the signature page of this Agreement (together with Investors, the “Investors”
or
      the
“Escrowing Parties” and each an “Investor”)
      and
      Tri-State Title & Escrow, LLC (the “Escrow
      Agent”).
      The
      principal address of each party hereto is set forth on Exhibit A. 

    

    WITNESSETH:

    

    WHEREAS,
      the Company proposes to make a private offering to the Investors in an aggregate
      amount of Two Million Seven Hundred and Fifty Thousand ($2,750,000) Dollars
      (the
“Escrowed
      Funds”);
      and

     

    WHEREAS,
      pursuant to a securities purchase agreement to be entered into by the Company
      and the Investors for the private placement (the “Securities
      Purchase Agreement”),
      the
      Company and the Investors desire to deposit the Escrowed Funds with the Escrow
      Agent, to be held in escrow until joint written instructions are received by
      the
      Escrow Agent from the Investors, at which time the Escrow Agent will disburse
      the Escrowed Funds in accordance with such instructions; and

    

    WHEREAS,
      Escrow Agent is willing to hold the Escrowed Funds in escrow subject to the
      terms and conditions of this Agreement.

    

    NOW,
      THEREFORE, in consideration of the mutual promises herein contained and
      intending to be legally bound, the parties hereby agree as follows:

    

    1.    Appointment
      of Escrow Agent.
      The
      Investors hereby appoints Escrow Agent as escrow agent in accordance with the
      terms and conditions set forth herein and the Escrow Agent hereby accepts such
      appointment.

    

    2.    Delivery
      of the Escrowed Funds. 

    

    2.1
       The
      Investors will direct delivery of the Escrowed Funds to the Escrow Agent’s
      account on Closing Date (as defined in the Securities Purchase Agreement) as
      follows:

    

    Trust
      Account ABA #056008849

    Cardinal
      Bank

    McLean,
      VA 22102

    Account
      #
      5060024931

    Account
      Name: Tri-State Title & Escrow, LLC

    

    The
      Escrow Funds are to be held and distributed by the Escrow Agent in accordance
      with and subject to the provisions of this Agreement.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    3.    Escrow
      Agent to Hold and Disburse Escrowed Funds.
      The
      Escrow Agent will hold and disburse the Escrowed Funds received by it pursuant
      to the terms of this Escrow Agreement, as follows: 

    

    3.1 Upon
      receipt of the joint instructions from the Investors, in substantially the
      form
      of Exhibit B hereto, the Escrow Agent shall release the Escrowed Funds as
      directed in such instruction. 

    

    3.2 In
      the
      event this Agreement, the Escrowed Funds or the Escrow Agent becomes the subject
      of litigation, or if the Escrow Agent shall desire to do so for any other
      reason, each of the Company and the Investors authorizes the Escrow Agent,
      at
      its option, to deposit the Escrowed Funds with the clerk of the court in which
      the litigation is pending, or a court of competent jurisdiction if no litigation
      is pending, and thereupon the Escrow Agent shall be fully relieved and
      discharged of any further responsibility with regard thereto. Each of the
      Company and the Investors also authorizes the Escrow Agent, if it receives
      conflicting claims to the Escrow Funds, is threatened with litigation or if
      the
      Escrow Agent shall desire to do so for any other reason, to interplead all
      interested parties in any court of competent jurisdiction and to deposit the
      Escrowed Funds with the clerk of that court and thereupon the Escrow Agent
      shall
      be fully relieved and discharged of any further responsibility hereunder to
      the
      parties from which they were received. 

    

    3.3 In
      the
      event that the Escrow Agent does not receive any instruction by a date that
      is
      one month from the date of this Agreement (the “Escrow Termination Date”), all
      Escrowed Funds shall be returned to the Investors, with the Accrued Interest
      as
      defined under Section 7.2. 

    

    4.    Exculpation
      and Indemnification of Escrow Agent

    

    4.1
       The
      Escrow Agent shall have no duties or responsibilities other than those expressly
      set forth herein. The Escrow Agent shall have no duty to enforce any obligation
      of any person to make any payment or delivery, or to direct or cause any payment
      or delivery to be made, or to enforce any obligation of any person to perform
      any other act. The Escrow Agent shall be under no liability to the other parties
      hereto or anyone else, by reason of any failure, on the part of any party hereto
      or any maker, guarantor, endorser or other signatory of a document or any other
      person, to perform such person’s obligations under any such document. Except for
      written instructions given to the Escrow Agent by the Escrowing Party relating
      to the Escrowed funds, the Escrow Agent shall not be obligated to recognize
      any
      agreement between or among the Company and the Escrowing Party, notwithstanding
      that references hereto may be made herein and whether or not it has knowledge
      thereof. 

    

    4.2 The
      Escrow Agent shall not be liable to the Company and the Investors or to anyone
      else for any action taken or omitted by it, or any action suffered by it to
      be
      taken or omitted, in good faith and acting upon any order, notice, demand,
      certificate, opinion or advice of counsel (including counsel chosen by the
      Escrow Agent), statement, instrument, report, or other paper or document (not
      only as to its due execution and the validity and effectiveness of its
      provisions, but also as to the truth and acceptability of any information
      therein contained), which

    
      
        
        

      

      
        -2-

        
          

        

      

      
        
        

      

    

     

    is
      believed by the Escrow Agent to be genuine and to be signed or presented by
      the
      proper person or persons. The Escrow Agent shall not be bound by any of the
      terms thereof, unless evidenced by written notice delivered to the Escrow Agent
      signed by the proper party or parties and, if the duties or rights of the Escrow
      Agent are affected, unless it shall give its prior written consent
      thereto.

    

    4.3 The
      Escrow Agent shall not be responsible for the sufficiency or accuracy of the
      form, or of the execution, validity, value or genuineness of, any document
      or
      property received, held or delivered to it hereunder, or of any signature or
      endorsement thereon, or for any lack of endorsement thereon, or for any
      description therein; nor shall the Escrow Agent be responsible or liable to
      the
      Company and Investors or to anyone else in any respect on account of the
      identity, authority or rights, of the person executing or delivering or
      purporting to execute or deliver any document or property or this Escrow
      Agreement. The Escrow Agent shall have no responsibility with respect to the
      use
      or application of the Escrowed Funds pursuant to the provisions
      hereof.

    

    4.4 The
      Escrow Agent shall have the right to assume, in the absence of written notice
      to
      the contrary from the proper person or persons, that a fact or an event, by
      reason of which an action would or might be taken by the Escrow Agent, does
      not
      exist or has not occurred, without incurring liability to the Company or to
      anyone else for any action taken or omitted to be taken or omitted, in good
      faith and in the exercise of its own best judgment, in reliance upon such
      assumption.

    

    4.5 To
      the
      extent that the Escrow Agent becomes liable for the payment of taxes, including
      withholding taxes, in respect of income derived from the investment of the
      Escrowed Funds, or any payment made hereunder, the Escrow Agent may pay such
      taxes; and the Escrow Agent may withhold from any payment of the Escrowed Funds
      such amount as the Escrow Agent estimates to be sufficient to provide for the
      payment of such taxes not yet paid, and may use the sum withheld for that
      purpose. The Escrow Agent shall be indemnified and held harmless against any
      liability for taxes and for any penalties in respect of taxes, on such
      investment income or payments in the manner provided in Section 4.6

    

    4.6 The
      Escrow Agent will be indemnified and held harmless by the Company from and
      against all expenses, including all counsel fees and disbursements, or loss
      suffered by the Escrow Agent in connection with any action, suit or proceedings
      involving any claim, or in connection with any claim or demand, which in any
      way, directly or indirectly, arises out of or relates to this Escrow Agreement,
      the services of the Escrow Agent hereunder, except for claims relating to gross
      negligence by Escrow Agent or breach of this Escrow Agreement by the Escrow
      Agent, or the monies or other property held by it hereunder. Promptly after
      the
      receipt by the Escrow Agent of notice of any demand or claim or the commencement
      of any action, suit or proceeding, the Escrow Agent shall, if a claim in respect
      thereof is to be made against an Escrowing Party, notify each of them thereof
      in
      writing, but the failure by the Escrow Agent to give such notice shall not
      relieve any such party from any liability which an Escrowing Party may have
      to
      the Escrow Agent hereunder. Notwithstanding any obligation to make payments
      and
      deliveries hereunder, the Escrow Agent may retain and hold for such time as
      it
      deems necessary such amount of monies or property as it shall, from time to
      time, in its sole discretion,

    
      
        
        

      

      
        -3-

        
          

        

      

      
        
        

      

    

     

    seem
      sufficient to indemnify itself for any such loss or expense and for any amounts
      due it under Section 7. 

    

    4.7 For
      purposes hereof, the term “expense or loss” shall include all amounts paid or
      payable to satisfy any claim, demand or liability, or in settlement of any
      claim, demand, action, suit or proceeding settled with the express written
      consent of the Escrow Agent, and all costs and expenses, including, but not
      limited to, counsel fees and disbursements, paid or incurred in investigating
      or
      defending against any such claim, demand, action, suit or proceeding.

    

    5.    Termination
      of Agreement and Resignation of Escrow Agent 

    

    5.1 This
      Escrow Agreement shall terminate upon (a) disbursement of all of the Escrowed
      Funds, and (b) Escrow Termination Date as set forth under Section 3.3, whichever
      is earlier, provided that the rights of the Escrow Agent and the obligations
      of
      the Company under Section 4 shall survive the termination hereof.

    

    5.2 The
      Escrow Agent may resign at any time and be discharged from its duties as Escrow
      Agent hereunder by giving the Company and the Investors at least five (5)
      business days written notice thereof (the “Notice Period”). As soon as
      practicable after its resignation, the Escrow Agent shall, if it receives notice
      from the Company and the Investors within the Notice Period, turn over to a
      successor escrow agent appointed by the Company and the Investors all Escrowed
      Funds (less such amount as the Escrow Agent is entitled to retain pursuant
      to
      Section 7) upon presentation of the document appointing the new escrow agent
      and
      its acceptance thereof. If no new agent is so appointed within the Notice
      Period, the Escrow Agent shall return the Escrowed Funds to the Investors from
      which they were received, with the Accrued Interest as defined under Section
      7.2. 

    

    6.    Form
      of Payments by Escrow Agent

    

    6.1 Any
      payments of the Escrowed Funds by the Escrow Agent pursuant to the terms of
      this
      Escrow Agreement shall be made by wire transfer unless directed to be made
      by
      check by the Escrowing Parties.

    

    6.2
       All
      amounts referred to herein are expressed in United States Dollars and all
      payments by the Escrow Agent shall be made in such dollars.

    

    7.    Compensation.
      Escrow
      Agent shall be entitled to the following compensation from the
      Company:

     

    7.1 Documentation
      Fee:
      The
      Company shall pay a documentation fee to the Escrow Agent of
      $3,000.

    

    7.2 Interest :
      The
      Escrowed Funds shall accrue interest (the “Accrued Interest”) at the available
      rate obtained by the Escrow Agent with respect to the period during which such
      funds are held in the Escrow Agent’s account set forth in Section 2.1 above. In
      connection with a Closing or a return of funds to the Investors, the Investors
      shall be paid Accrued Interest of 2.5%

    
      
        
        

      

      
        -4-

        
          

        

      

      
        
        

      

    

     

    per
      annum
      on the aggregate amount of Escrowed Funds in the Escrow Agent’s account on the
      date of such Closing or return of funds and the balance of Accrued Interest,
      if
      any, shall be retained by the Escrow Agent. 

    

    8.    Notices.
      All
      notices, requests, demands, and other communications provided herein shall
      be in
      writing, shall be delivered by hand or by first-class mail, shall be deemed
      given when received and shall be addressed to parties hereto at their respective
      addresses first set forth on Exhibit
      A
      hereto.

    

    9.    Further
      Assurances. From
      time
      to time on and after the date hereof, the Company, and Investors shall deliver
      or cause to be delivered to the Escrow Agent such further documents and
      instruments and shall do and cause to be done such further acts as the Escrow
      Agent shall reasonably request (it being understood that the Escrow Agent shall
      have no obligation to make any such request) to carry out more effectively
      the
      provisions and purposes of this Escrow Agreement, to evidence compliance
      herewith or to assure itself that it is protected in acting
      hereunder.

    

    10.    Consent
      to Service of Process .
      The
      Company hereby irrevocably consent to the jurisdiction of the courts of the
      State of Virginia and of any Federal court located in such state in connection
      with any action, suit or proceedings arising out of or relating to this Escrow
      Agreement or any action taken or omitted hereunder, and waives personal service
      of any summons, complaint or other process and agrees that the service thereof
      may be made by certified or registered mail directed to it at the address listed
      on Exhibit A hereto.

    

    11.    Miscellaneous

    

    11.1 This
      Agreement shall be construed without regard to any presumption or other rule
      requiring construction against the party causing such instrument to be drafted.
      The terms “hereby,” “hereof,” “hereunder,” and any similar terms, as used in
      this Escrow Agreement, refer to the Escrow Agreement in its entirety and not
      only to the particular portion of this Escrow Agreement where the term is used.
      The word “person” shall mean any natural person, partnership, corporation,
      government and any other form of business of legal entity. All words or terms
      used in this Escrow Agreement, regardless of the number or gender in which
      they
      were used, shall be deemed to include any other number and any other gender
      as
      the context may require. This Escrow Agreement shall not be admissible in
      evidence to construe the provisions of any prior agreement. 

    

    11.2 This
      Agreement and the rights and obligations hereunder of the Company, and the
      Investors may not be assigned. This Escrow Agreement and the rights and
      obligations hereunder of the Escrow Agent may be assigned by the Escrow Agent,
      with the prior consent of the Escrowing Parties. This Escrow Agreement shall
      be
      binding upon and inure to the benefit of each party’s respective successors,
      heirs and permitted assigns. No other person shall acquire or have any rights
      under or by virtue of this Escrow Agreement. This Escrow Agreement may not
      be
      changed orally or modified, amended or supplemented without an express written
      agreement executed by the Escrow Agent, the Company and the Escrowing Party.
      This Escrow Agreement is intended to be for the sole benefit of the parties
      hereto and their respective successors, heirs

    
      
        
        

      

      
        -5-

        
          

        

      

      
        
        

      

    

     

    and
      permitted assigns, and none of the provisions of this Escrow Agreement are
      intended to be, nor shall they be construed to be, for the benefit of any third
      person.

    

    11.3 This
      Agreement shall be governed by, and construed in accordance with, the internal
      laws of the State of Virginia. The representations and warranties contained
      in
      this Escrow Agreement shall survive the execution and delivery hereof and any
      investigations made by any party. The headings in this Escrow Agreement are
      for
      purposes of reference only and shall not limit or otherwise affect any of the
      terms thereof. 

    

    11.4 This
      Agreement supersedes the Escrow Agreement entered into by and among the Company,
      Barron Partners L.P. and the Escrow Agent on June 5, 2007.

    

    

    12.    Execution
      of Counterparts This
      Escrow Agreement may be executed in a number of counterparts, by facsimile,
      each
      of which shall be deemed to be an original as of those whose signature appears
      thereon, and all of which shall together constitute one and the same instrument.
      This Escrow Agreement shall become binding when one or more of the counterparts
      hereof, individually or taken together, are signed by all the
      parties.

    
      
        
        

      

      
        -6-

        
          

        

      

      
        
        

      

    

    

    IN
      WITNESS WHEREOF, the parties have executed and delivered this Escrow Agreement
      on the day and year first above written.

    

    ESCROW
      AGENT:

    

    TRI-STATE
      TITLE & ESCROW, LLC

    

    

    By: 
      /s/
      Guy
      Turner

    Name:
      Guy
      W. Turner

    Title:
      President

    

    

    BARRON
      PARTNERS, L.P.

    

    By:
      Investors Capital Advisors, LLC, its General Partners

    

    

    /s/
      Andrew Worden

    Name:
      Andrew Investors Worden

    Title:
      CEO 

    

    

    EOS
      HOLDINGS

    

    

    By: 
      /s/ Jon R.Carnes 

    Jon
      R.Carnes, President

     

    

    

    

    /s/
      Matthew Hayden

    Matthew
      Hayden

    

    

    

    DELI
      SOLAR (USA), INC

    

    

    By: 
      /s/ Deli Du

    Name:
      Deli Du

    Title:
      President and CEO

     

    
      
        
        

      

      
        -7-

        
          

        

      

      
        
        

      

       

      EXHIBIT
        A

      PARTIES
        TO AGREEMENT

    

    

    Tri-State
      Title & Escrow, LLC

    360
      Main
      Street

    P.O.
      Box
      391 

    Washington,
      VA 22747

    (800)
      984-2155 

    Attention:
      Johnnie L. Zarecor

    

    Telephone:
      (540) 675-2155

    Fax: (540)
      675-3155

    Email
      escrow@tristatetitle.net

    

    $2,550,000

    BARRON
      PARTNERS LP

    Attn:
      Andrew Investors Worden

    President

    730
      Fifth
      Avenue, 9th Floor

    New
      York
      NY 10019

    Tel:
      212-359-0201

    Fax:
      646-607-2223

    Email:
      abw@Investorspartners.com

     rbaum@Investorspartners.com

    

    

    $100,000

    Eos
      Holdings LLC

    Attn:
      Jon
      R. Carnes

    2560
      Highvale Dr

    Las
      Vegas
      NV 89134

    Tel:
      (702) 236-7331

    Fax:
      917-591-7787

    Email:
      jcarnes@eosfunds.com

    

    

    $100,000

    Matthew
      Hayden

    1298
      Prospect Drive, Suite 2D

    La
      Jolla,
      California 92037

    Tel:
      (858) 704-5065; (760) 613-3695

    Fax:
      (858) 408-1808

    Email:matt@haydenir.com

    

    

    

    DELI
      SOLAR (USA), INC

    Building
      3 No. 28

    
      
        
        

      

      
        -8-

        
          

        

      

      
        
        

      

    

     

    Feng
      Tai
      North Road

    Beijing,
      China 100071

    Attn:
      Deli Du

    Tel:
      01186-13603160688 (Chinese)

    Tel:
      01186-13911099317
      (Chinese and English)

    Fax:
      01186-64893659

    Email:
      jianminlee@yahoo.com

    
      
        
        

      

      
        -9-

        
          

        

      

      
        
        

      

    

     

    EXHIBIT
      B 

    

    DISBURSEMENT
      REQUEST

    

    Pursuant
      to the Closing Escrow Agreement dated effective as of June __, 2007, among
      Barron Partners, L.P., Eos holdings, LLC and Mr. Matthew Hayden (
      the“Investors”), Deli Solar (USA), Inc. and Tri-State Title & Escrow, LLC.
      The Investors, the Escrowing Parties hereby request disbursement of funds in
      the
      amount and manner described below from account number [ ], styled Tri-State
      Title & Escrow, LLC Escrow Account.

    

    Please
      disburse
      to:                             _________________________________

    
 

    Amount
      to
      disburse:                         
_________________________________

    

    Form
      of
      distribution:                         
_________________________________

    

    Payee:     

    Name:                   _________________________________

    Address:             
      _________________________________

    City/State:           
      _________________________________

    Zip:                       _________________________________

    

    

    

    

    Statement
      of event or condition which calls for this request for
      disbursement:

    _______________________________________________________________

    _______________________________________________________________

     

     

      
      Barron Partners, L.P. 

    

    

    Date:
      _____________                                         
By: 
      Investors Capital Advisors, LLC, its General Partners

     

                                                                                     
      _________________________________

                                                                                      
      Name:
      Andrew Investors Worden

                                                                                      
      Title:
      CEO 

    

     

                                                                                     
      EOS HOLDINGS

    

    

      
      By:  _____________________________

              
Jon
      R.Carnes, President

     

    
      
        
        

      

      
        -10-

        
          

        

      

      
        
        

      

    

    
 

     
      _________________________________

      
      Matthew Hayden

    

    

    
      
        
        

      

      -11-

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