Document:

Unassociated Document

    Exhibit
      10.4

    

    WARRANT
      PURCHASE AGREEMENT

    

    WARRANT
      PURCHASE AGREEMENT (this
      “Agreement”)
      made
      as of this __th day of _____, 2008 among Chardan 2008 China Acquisition Corp.,
      a
      British Virgin Islands business company of limited liability (the “Company”),
      and
      the undersigned (each a “Purchaser”,
      and,
      collectively, the “Purchasers”).

    

    WHEREAS,
      the
      Company has filed with the Securities and Exchange Commission (the “SEC”)
      a
      registration statement on Form F-1, as amended (File No. 333-152623) (the
“Registration
      Statement”),
      in
      connection with the Company’s initial public offering (the “IPO”)
      of
      6,875,000 units (the “Units”),
      each
      unit consisting of (i) one of the Company’s ordinary shares, par value $0.0001
      per share (the “Ordinary
      Shares”),
      and
      (ii) one warrant (a “Warrant”),
      each
      Warrant to purchase one Ordinary Share;

    

    WHEREAS,
      immediately prior to the consummation of the IPO, the Company desires to sell
      in
      a private placement to the Purchasers (the “Placement”)
      an
      aggregate of 2,000,000 warrants (the “Private
      Placement Warrants”)
      substantially identical to the Warrants being issued in the IPO pursuant to
      the
      terms and conditions hereof and as set forth in the Registration Statement,
      except that the Private Placement Warrants to be issued in the Placement shall
      not be registered under the Securities Act of 1933, as amended (the
“Securities
      Act”);

    

    WHEREAS,
      each
      Purchaser desires to acquire the number of Private Placement Warrants set forth
      opposite his name on Schedule
      A
      annexed
      hereto;

    

    WHEREAS,
      except
      as provided herein, the Private Placement Warrants shall be governed by the
      Warrant Agreement filed as an exhibit to the Registration Statement;
      and

    

    WHEREAS,
      the
      Purchasers are entitled to registration rights with respect to the Private
      Placement Warrants and the Ordinary Shares underlying the Placement Warrants
      (the “Underlying
      Shares”)
      on the
      terms set forth in this Agreement;

    

    NOW,
      THEREFORE,
      for and
      in consideration of the premises and the mutual covenants hereinafter set forth,
      the parties hereto do hereby agree as follows:

    

    1. Purchase
      of Private Placement Warrants.
      The
      Purchasers hereby agree, directly or through their nominees, to purchase an
      aggregate of 2,000,000 Private Placement Warrants at a purchase price of $0.50
      per Private Placement Warrant, or an aggregate of $1,000,000 (the “Purchase
      Price”).
      Such
      purchases shall be in the names and amounts set forth on Schedule
      A
      annexed
      hereto.

    

    2. Closing.
      The
      closing of the purchase and sale of the Private Placement Warrants (the
“Closing”)
      will
      take place at such time and place as the parties may agree (the “Closing
      Date”),
      but
      in no event later than one business day prior to the effective date of the
      Registration Statement (“Effective
      Date”).
      On or
      prior to the Effective Date, the Purchasers shall pay the Purchase Price by
      wire
      transfer of funds to Richardson & Patel LLP, outside counsel for the
      Company. On the Closing Date, the Company shall cause Richardson & Patel LLP
      to transfer the Purchase Price to the trust account at Goldman Sachs in London,
      maintained by Continental Stock Transfer & Trust Company, acting as trustee
      (the “Trust
      Account”).
      The
      certificates for the Private Placement Warrants shall be placed into escrow
      pursuant to the Private Placement Warrant Escrow Agreement dated _____ __,
      2008
      by and among Continental and the other signatories thereto.

    

    3. Representations
      and Warranties of the Purchasers.
      Each
      Purchaser hereby represents and warrants to the Company that:

    

    3.1 The
      execution and delivery by the Purchasers of this Agreement and the fulfillment
      of and compliance with the respective terms hereof by the Purchasers do not
      and
      shall not as of the Closing
      conflict with or result in a breach of the terms, conditions or provisions
      of
      any other agreement, instrument, order, judgment or decree to which Purchasers
      are subject to.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    3.2 The
      Purchaser is an “accredited investor” as that term is defined in Rule 501 of
      Regulation D promulgated under the Securities Act.

    

    3.3 The
      Private Placement Warrants are being acquired for the Purchaser’s own account,
      only for investment purposes and not with a view to, or for resale in connection
      with, any distribution or public offering thereof within the meaning of the
      Securities Act.

    

    3.4 The
      Purchaser has the full right, power and authority to enter into this Agreement
      and this Agreement is a valid and legally binding obligation of the Purchaser
      enforceable against the Purchaser in accordance with its terms.

    

    3.5 The
      Purchaser understands that no United States federal or state agency or any
      other
      government or governmental agency has passed on or made any recommendation
      or
      endorsement of the securities or the fairness or suitability of the investment
      in the securities nor have such authorities passed upon or endorsed the merits
      of the offering of the securities.

    

    4. Registration
      Rights.
      The
      Purchasers shall have registration rights pursuant to the Registration Rights
      Agreement, dated as of _____ __, 2008, by and among the Company and the
      Investors listed on the signature page thereto.

    

    5. Waiver
      of Claims Against Trust Account.
      Each
      Purchaser hereby waives any and all right, title, interest or claim of any
      kind
      in or to any distributions from the Trust Account with respect to any Ordinary
      Shares acquired by the Purchaser in connection with the exercise of the Private
      Placement Warrants purchased pursuant to this Agreement (“Claim”)
      and
      hereby waives any Claim the undersigned may have in the future as a result
      of,
      or arising out of, any contracts or agreements with the Company and will not
      seek recourse against the Trust Account for any reason whatsoever.

    

    6. Legends;
      Denominations

    

    6.1 Legend.
      The
      Company will issue the Private Placement Warrants, and when issued the
      Underlying Shares, purchased by Purchaser in the name of Purchaser and in such
      denominations to be specified by Purchaser. The Private Placement Warrants
      and
      Underlying Shares will bear the following legend and appropriate “stop transfer”
instructions:

    

    THE
      SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES
      ACT
      OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE SECURITIES LAWS AND
      NEITHER THE SECURITIES NOR ANY INTEREST THEREIN MAY BE OFFERED, SOLD,
      TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED OF EXCEPT PURSUANT TO AN EFFECTIVE
      REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR SUCH LAWS OR AN EXEMPTION
      FROM REGISTRATION UNDER THE SECURITIES ACT AND SUCH LAWS WHICH, IN THE OPINION
      OF COUNSEL FOR THIS CORPORATION, IS AVAILABLE.

    

    THE
      SECURITIES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO THE TERMS AND
      CONDITIONS CONTAINED IN A PRIVATE PLACEMENT WARRANT ESCROW AGREEMENT (THE
“AGREEMENT”) AND MAY NOT BE OFFERED, SOLD, TRANSFERRED, PLEDGED OR OTHERWISE
      DISPOSED DURING THE TERM OF THE ESCROW PERIOD (AS DEFINED IN THE
      AGREEMENT).

    

    7. Forfeiture
      of Warrants.

    

    7.1. Failure
      to Consummate Business Combination.
      The
      Placement Warrants shall be forfeited to the Company in the event the Company
      does not consummate a business combination within 18, 30 or 36 months from
      the
      date of the final prospectus relating to the Company’s IPO, as described in the
      Registration Statement.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    7.2. Termination
      of Rights as holder; Escrow.
      If the
      Private Placement Warrants are forfeited in accordance with this Section 7,
      then
      after such time the Purchaser (or successor in interest), shall no longer have
      any rights as a holder of such Private Placement Warrants, and the Company
      shall
      take such action as is appropriate to cancel such Private Placement Warrants.
      To
      effectuate the foregoing, all certificates representing Private Placement
      Warrants shall be held in escrow as provided in Section 2 hereof. In addition,
      Purchaser hereby irrevocably grants the Company a limited power of attorney
      for
      the purpose of effectuating the foregoing.

    

    8. Waiver
      and Indemnification.
      Each
      Purchaser hereby waives any and all rights to assert any present or future
      claims, including any right of rescission, against the Company or the
      underwriters in the IPO with respect to their purchase of the Private Placement
      Warrants, and each Purchaser agrees jointly and severally to indemnify and
      hold
      the Company and the underwriters in the IPO harmless from all losses, damages
      or
      expenses that relate to claims or proceedings brought against the Company or
      such underwriters by Purchasers of the Private Placement Warrants.

    

    9. Counterparts;
      Facsimile.
      This
      Agreement may be executed in any number of counterparts, each of which when
      so
      executed shall be deemed to be an original and all of which taken together
      shall
      constitute one and the same instrument. This Agreement or any counterpart may
      be
      executed via facsimile transmission, and any such executed facsimile copy shall
      be treated as an original.

    

    10. Governing
      Law.
      This
      Agreement shall for all purposes be deemed to be made under and shall be
      construed in accordance with the laws of the State of New York. Each of the
      parties hereby agrees that any action, proceeding or claim against it arising
      out of or relating in any way to this Agreement shall be brought and enforced
      in
      the courts of the State of New York or the United States District Court for
      the
      Southern District of New York, and irrevocably submits to such jurisdiction,
      which jurisdiction shall be exclusive. Each of the parties hereby waives any
      objection to such exclusive jurisdiction and that such courts represent an
      inconvenient forum.

     

    [SIGNATURE
      PAGE FOLLOWS]

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    IN
      WITNESS WHEREOF,
      the
      undersigned have executed this Warrant Purchase Agreement as of the __th day
      of
      _____, 2008.

    

    
      	
              CHARDAN
                2008 CHINA ACQUISITION CORP.

            
	 	 
	
              By:
                

            	 
	 	
              Name

            
	 	
              Title:

            
	 	 
	
              PURCHASERS:

            
	 	 
	
              By:
                

            	 
	 	
              Name

            
	 	
              Title:

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    Exhibit
      10.4

     

    SCHEDULE
      A

    

    
      	
              Name

            	 	
              Number
                of Placement Warrants

            	 	
              Price

            
	 	 	 	 	
              $

            	 
	 	 	 	 	
              $

            	 
	 	 	 	 	
              $

            	 
	 	 	 	 	
              $

            	 
	 	 	 	 	
              $Exhibit
      10.5

    

    REGISTRATION
      RIGHTS AGREEMENT

    

    This
      REGISTRATION RIGHTS AGREEMENT (this
      “Agreement”)
      is
      entered into as of the __th day of _____, 2008, by and among Chardan 2008 China
      Acquisition Corp., a British Virgin Islands business company of limited
      liability (the “Company”),
      and
      the undersigned parties listed under “Investors” on the signature page hereto
      (each, an “Investor”
and,
      collectively, the “Investors”).

    

    WHEREAS,
      the
      Investors currently hold all of the issued and outstanding securities of the
      Company; and

    

    WHEREAS,
      the
      Investors and the Company desire to enter into this Agreement to provide the
      Investors with certain rights relating to the registration of Ordinary Shares,
      Warrants and Private Placement Warrants owned by them and the Ordinary Shares
      they may acquire upon exercise of the Warrants and Private Placement
      Warrants;

    

    NOW,
      THEREFORE,
      in
      consideration of the mutual covenants and agreements set forth herein, and
      for
      other good and valuable consideration, the receipt and sufficiency of which
      are
      hereby acknowledged, the parties hereto agree as follows:

    

    1. DEFINITIONS.
      The
      following capitalized terms used herein have the following
      meanings:

    

    “Agreement”
means
      this Agreement, as amended, restated, supplemented, or otherwise modified from
      time to time.

    

    “Commission”
means
      the Securities and Exchange Commission, or any other federal agency then
      administering the Securities Act or the Exchange Act.

    

    “Company”
is
      defined in the preamble to this Agreement.

    

    “Demand Registration”
is
      defined in Section 2.1.1.

    

    “Demanding Holder”
is
      defined in Section 2.1.1.

    

    “Exchange
      Act”
means
      the Securities Exchange Act of 1934, as amended, and the rules and regulations
      of the Commission promulgated thereunder, all as the same shall be in effect
      at
      the time.

    

    “Form
      F-3”
is
      defined in Section 2.3.

    

    “Indemnified
      Party”
is
      defined in Section 4.3.

    

    “Indemnifying
      Party”
is
      defined in Section 4.3.

    

    “Investor”
is
      defined in the preamble to this Agreement.

    

    “Investor
      Indemnified Party”
is
      defined in Section 4.1.

    

    “Maximum
      Number of Shares”
is
      defined in Section 2.1.4.

    

    “Notices”
is
      defined in Section 6.3.

    

    “Ordinary
      Shares”
shall
      mean ordinary shares of the Company, par value $0.001 per share.

    

    “Piggy-Back
      Registration”
is
      defined in Section 2.2.1.

    

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

    “Private
      Placement Warrants”
means
      the Warrants purchased by certain of the Investors prior to the effective date
      of the registration statement filed with the SEC in connection with the
      Company’s initial public offering, which such Warrants are exercisable for
      Ordinary Shares.

    

    “Purchase
      Option”
means
      the option to purchase 137,500 units, each unit consisting of one Ordinary
      Share
      and one Warrant to purchase one Ordinary Share, issued to Brean Murray, Carret
      & Co., LLC, Maxim Group LLC and Roth Capital Partners, LLC, as
      representatives of the underwriters, or their registered assignees in connection
      with the Company’s initial public offering of securities (as may be transferred
      from time to time in accordance with its terms).

    

    “Register,”
      “registered”
and
      “registration”
mean
      a
      registration effected by preparing and filing a Registration Statement or
      similar document in compliance with the requirements of the Securities Act,
      and
      the applicable rules and regulations promulgated thereunder, and such
      registration statement becoming effective.

    

    “Registrable
      Securities”
means
      (i) all of the Ordinary Shares and Warrants (and underlying Ordinary Shares)
      owned or held by Investors prior to the consummation of the Company’s initial
      public offering, and (ii) all of the Private Placement Warrants (and underlying
      Ordinary Shares) owned or held by Investors upon consummation of the Company’s
      initial public offering. Registrable Securities include any Warrants, Ordinary
      Shares or other securities of the Company issued as a dividend or other
      distribution with respect to or in exchange for or in replacement of such
      Warrants, Private Placement Warrants and Ordinary Shares. As to any particular
      Registrable Securities, such securities shall cease to be Registrable Securities
      when: (a) a Registration Statement with respect to the sale of such securities
      shall have become effective under the Securities Act and such securities shall
      have been sold, transferred, disposed of or exchanged in accordance with such
      Registration Statement; (b) such securities shall have been otherwise
      transferred, new certificates for them not bearing a legend restricting further
      transfer shall have been delivered by the Company and subsequent public
      distribution of them shall not require registration under the Securities Act;
      (c) such securities shall have ceased to be outstanding, or (d) the Registrable
      Securities are salable under Rule 144 without restriction in the opinion of
      counsel to the Company.

    

    “Registration
      Statement”
means
      a
      registration statement filed by the Company with the Commission in compliance
      with the Securities Act and the rules and regulations promulgated thereunder
      for
      a public offering and sale of securities of the Company (other than a
      registration statement on Form F-4 or Form S-8, or their successors, or any
      registration statement covering only securities proposed to be issued in
      exchange for securities or assets of another entity).

    

    “Release
      Date”
means
      the earliest date on which any of the Ordinary Shares, Warrants or Private
      Placement Warrants are disbursed from escrow pursuant to Section 3 of each
      of
      the Securities Escrow Agreement and the Private Placement Warrant Agreement
      each
      dated as of ____ __, 2008 by and among the parties hereto and Continental Stock
      Transfer & Trust Company, as escrow agent.

    

    “Repurchase
      Right”
is
      defined in Section 6.10.1.

    

    “Securities
      Act”
means
      the Securities Act of 1933, as amended, and the rules and regulations of the
      Commission promulgated thereunder, all as the same shall be in effect at the
      time.

    

    “Underwriter”
means
      a
      securities dealer who purchases any Registrable Securities as principal in
      an
      underwritten offering and not as part of such dealer’s market-making
      activities.

    

    “Warrant”
means
      a
      warrant to purchase one Ordinary Share.

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    2. REGISTRATION
      RIGHTS.

    

    2.1 Demand
      Registration.

    

    2.1.1 Request
      for Registration.
      At any
      time and from time to time on or after the Release Date, the holders of not
      less
      than a majority of any class of the Registrable Securities held by the Investors
      or the transferees of the Investors, may make a written demand for registration
      under the Securities Act of all or part of their Registrable Securities (a
      “Demand
      Registration”).
      Any
      demand for a Demand Registration shall specify the number of shares of
      Registrable Securities proposed to be sold and the intended method(s) of
      distribution thereof. The Company will notify all holders of Registrable
      Securities of the demand within ten (10) days from the receipt of the Demand
      Registration, and each holder of Registrable Securities who wishes to include
      all or a portion of such holder’s Registrable Securities in the Demand
      Registration (each such holder including shares of Registrable Securities in
      such registration, a “Demanding
      Holder”)
      shall
      so notify the Company within fifteen (15) days after the receipt by the holder
      of the notice from the Company. Upon any such request, the Demanding Holders
      shall be entitled to have their Registrable Securities included in the Demand
      Registration, subject to Section 2.1.4 and the provisos set forth in Section
      3.1.1. The Company shall not be obligated to effect more than an aggregate
      of
      two (2) Demand Registrations under this Section 2.1.1 in respect of Registrable
      Securities.

    

    2.1.2 Effective
      Registration.
      A
      registration will not count as a Demand Registration until the Registration
      Statement filed with the Commission with respect to such Demand Registration
      has
      been declared effective and the Company has complied with all of its obligations
      under this Agreement with respect thereto; provided,
      however,
      that
      if, after such Registration Statement has been declared effective, the offering
      of Registrable Securities pursuant to a Demand Registration is interfered with
      by any stop order or injunction of the Commission or any other governmental
      agency or court, the Registration Statement with respect to such Demand
      Registration will be deemed not to have been declared effective, unless and
      until, (i) such stop order or injunction is removed, rescinded or otherwise
      terminated, and (ii) a majority-in-interest of the Demanding Holders thereafter
      elect to continue the offering; provided,
      further,
      that
      the Company shall not be obligated to file a second Registration Statement
      until
      a Registration Statement that has been filed is counted as a Demand Registration
      or is terminated or withdrawn.

    

    2.1.3 Underwritten
      Offering.
      If not
      less than a majority in interest of the Demanding Holders so elect and such
      holders so advise the Company as part of their written demand for a Demand
      Registration, the offering of such Registrable Securities pursuant to such
      Demand Registration shall be in the form of an underwritten offering. In such
      event, the right of any holder to include its Registrable Securities in such
      registration shall be conditioned upon such holder’s participation in such
      underwriting and the inclusion of such holder’s Registrable Securities in the
      underwriting to the extent provided herein. All Demanding Holders proposing
      to
      distribute their securities through such underwriting shall enter into an
      underwriting agreement in customary form with the Underwriter or Underwriters
      selected for such underwriting by a majority-in-interest of the holders
      initiating the Demand Registration.

    

    2.1.4 Reduction
      of Offering.
      Subject
      to the registration rights set forth in the Purchase Option, which rights,
      shall
      in no way be limited by the Maximum Number of Shares to be included in the
      Registration Statement pursuant to this Section 2.1.4, if the managing
      Underwriter or Underwriters for a Demand Registration that is to be an
      underwritten offering advises the Company and the Demanding Holders in writing
      that the dollar amount or number of shares of Registrable Securities which
      the
      Demanding Holders desire to sell, taken together with all other Ordinary Shares
      or other securities which the Company desires to issue and the Ordinary Shares,
      if any, as to which registration has been requested pursuant to written
      contractual piggy-back registration rights held by other shareholders of the
      Company who desire to sell, exceeds the maximum dollar amount or maximum number
      of shares that can be sold in such offering without adversely affecting the
      proposed offering price, the timing, the distribution method, or the probability
      of success of such offering (such maximum dollar amount or maximum number of
      shares, as applicable, the “Maximum
      Number of Shares”),
      then
      the Company shall include in such registration: (i) first, the Registrable
      Securities as to which Demand Registration has been requested by the Demanding
      Holders (pro rata in accordance with the number of shares of Registrable
      Securities which such Demanding Holder has requested be included in such
      registration, regardless of the number of shares of Registrable Securities
      held
      by each Demanding Holder) that can be sold without exceeding the Maximum Number
      of Shares; (ii) second, to the extent that the Maximum Number of Shares has
      not
      been reached under the foregoing clause (i), the Ordinary Shares or other
      securities that the Company desires to sell that can be sold without exceeding
      the Maximum Number of Shares; (iii) third, to the extent that the Maximum Number
      of Shares has not been reached under the foregoing clauses (i) and (ii), the
      Ordinary Shares for the account of other persons that the Company is obligated
      to register pursuant to written contractual arrangements with such persons
      and
      that can be sold without exceeding the Maximum Number of Shares; and (v) fourth,
      to the extent that the Maximum Number of Shares have not been reached under
      the
      foregoing clauses (i), (ii), and (iii), the Ordinary Shares that other
      shareholders desire to sell that can be sold without exceeding the Maximum
      Number of Shares.

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    2.1.5 Withdrawal.
      If a
      majority-in-interest of the Demanding Holders disapprove of the terms of any
      underwriting or are not entitled to include all of their Registrable Securities
      in any offering, such majority-in-interest of the Demanding Holders may elect
      to
      withdraw from such offering by giving written notice to the Company and the
      Underwriter or Underwriters of their request to withdraw prior to the
      effectiveness of the Registration Statement filed with the Commission with
      respect to such Demand Registration. If the majority-in-interest of the
      Demanding Holders withdraws from a proposed offering relating to a Demand
      Registration, then such registration shall not count as a Demand Registration
      provided for in this Section 2.1.

    

    2.2 Piggy-Back
      Registration.

    

    2.2.1 Piggy-Back
      Rights.
      If at
      any time on or after the Release Date the Company proposes to file a
      Registration Statement under the Securities Act with respect to an offering
      of
      equity securities, or securities or other obligations exercisable or
      exchangeable for, or convertible into, equity securities, by the Company for
      its
      own account or for shareholders of the Company for their account (or by the
      Company and by shareholders of the Company including, without limitation,
      pursuant to Section 2.1), other than a Registration Statement (i) filed in
      connection with any employee stock option or other benefit plan, (ii) for an
      exchange offer or offering of securities solely to the Company’s existing
      shareholders, (iii) for an offering of debt that is convertible into equity
      securities of the Company or (iv) for a dividend reinvestment plan, then the
      Company shall (x)
      give
      written notice of such proposed filing to the holders of Registrable Securities
      as soon as practicable but in no event less than ten (10) days before the
      anticipated filing date, which notice shall describe the amount and type of
      securities to be included in such offering, the intended method(s) of
      distribution, and the name of the proposed managing Underwriter or Underwriters,
      if any, of the offering, and (y)
      offer
      to the holders of Registrable Securities in such notice the opportunity to
      register the sale of such number of shares of Registrable Securities as such
      holders may request in writing within five (5) days following receipt of such
      notice (a “Piggy-Back
      Registration”).
      The
      Company shall cause such Registrable Securities to be included in such
      registration and shall use its best efforts to cause the managing Underwriter
      or
      Underwriters of a proposed underwritten offering to permit the Registrable
      Securities requested to be included in a Piggy-Back Registration to be included
      on the same terms and conditions as any similar securities of the Company and
      to
      permit the sale or other disposition of such Registrable Securities in
      accordance with the intended method(s) of distribution thereof. All holders
      of
      Registrable Securities proposing to distribute their securities through a
      Piggy-Back Registration that involves an Underwriter or Underwriters shall
      enter
      into an underwriting agreement in customary form with the Underwriter or
      Underwriters selected for such Piggy-Back Registration.

    

    2.2.2 Reduction
      of Offering.
      Subject
      to the registration rights set forth in the Purchase Option, which rights,
      shall
      in no way be limited by the Maximum Number of Shares to be included in the
      Registration Statement pursuant to this Section 2.2.2, if the managing
      Underwriter or Underwriters for a Piggy-Back Registration that is to be an
      underwritten offering advises the Company and the holders of Registrable
      Securities in writing that the dollar amount or number of Ordinary Shares which
      the Company desires to sell, taken together with Ordinary Shares, if any, as
      to
      which registration has been demanded pursuant to written contractual
      arrangements with persons other than the holders of Registrable Securities
      hereunder, the Registrable Securities as to which registration has been
      requested under this Section 2.2, and the Ordinary Shares, if any, as to which
      registration has been requested pursuant to the written contractual piggy-back
      registration rights of other shareholders of the Company, exceeds the Maximum
      Number of Shares, then the Company shall include in any such
      registration:

    

    (i) If
      the
      registration is undertaken for the Company’s account: (A) first, the Ordinary
      Shares or other securities that the Company desires to issue that can be sold
      without exceeding the Maximum Number of Shares; (B) second, to the extent that
      the Maximum Number of Shares has not been reached under the foregoing clause
      (A), the Ordinary Shares, if any, including the Registrable Securities and
      the
      securities underlying the Purchase Option, as to which registration has been
      requested pursuant to written contractual piggy-back registration rights of
      security holders (pro rata in accordance with the number of Ordinary Shares
      which each such person has actually requested to be included in such
      registration, regardless of the number of Ordinary Shares with respect to which
      such persons have the right to request such inclusion) that can be sold without
      exceeding the Maximum Number of Shares; and 

     

    
      
        
        

      

      
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    (ii) If
      the
      registration is a “demand” registration undertaken at the demand of persons
      other than the holders of Registrable Securities pursuant to written contractual
      arrangements with such persons, (A) first, the Ordinary Shares for the account
      of the demanding persons that can be sold without exceeding the Maximum Number
      of Shares; (B) second, to the extent that the Maximum Number of Shares has
      not
      been reached under the foregoing clause (A), the Ordinary Shares or other
      securities that the Company desires to sell that can be sold without exceeding
      the Maximum Number of Shares; and (C) third, to the extent that the Maximum
      Number of Shares has not been reached under the foregoing clauses (A) and (B),
      the Registrable Securities as to which registration has been requested under
      this Section 2.2 (pro rata in accordance with the number of shares of
      Registrable Securities or securities underlying the Purchase Option held by
      each
      such holder); and (D) fourth, to the extent that the Maximum Number of Shares
      has not been reached under the foregoing clauses (A), (B) and (C), the Ordinary
      Shares, if any, as to which registration has been requested pursuant to written
      contractual piggy-back registration rights which other shareholders desire
      to
      sell that can be sold without exceeding the Maximum Number of
      Shares.

    

    2.2.3 Withdrawal.
      Any
      holder of Registrable Securities may elect to withdraw such holder’s request for
      inclusion of Registrable Securities in any Piggy-Back Registration by giving
      written notice to the Company of such request to withdraw prior to the
      effectiveness of the Registration Statement. The Company may also elect to
      withdraw a registration statement at any time prior to the effectiveness of
      the
      Registration Statement. Notwithstanding any such withdrawal, the Company shall
      pay all expenses incurred by the holders of Registrable Securities in connection
      with such Piggy-Back Registration as provided in Section 3.3.

    

    2.3 Registrations
      on Form F-3.
      The
      holders of Registrable Securities may at any time and from time to time, request
      in writing that the Company register the resale of any or all of such
      Registrable Securities on Form F-3 or any similar short-form registration which
      may be available at such time (“Form
      F-3”);
      provided,
      however,
      that
      the Company shall not be obligated to effect such request through an
      underwritten offering. Upon receipt of such written request, the Company will
      promptly give written notice of the proposed registration to all other holders
      of Registrable Securities, and, as soon as practicable thereafter, effect the
      registration of all or such portion of such holder’s or holders’ Registrable
      Securities as are specified in such request, together with all or such portion
      of the Registrable Securities of any other holder or holders joining in such
      request as are specified in a written request given within fifteen (15) days
      after receipt of such written notice from the Company; provided,
      however,
      that
      the Company shall not be obligated to effect any such registration pursuant
      to
      this Section 2.3: (i) if Form F-3 is not available for such offering; or (ii)
      if
      the holders of the Registrable Securities, together with the holders of any
      other securities of the Company entitled to inclusion in such registration,
      propose to sell Registrable Securities and such other securities (if any) at
      any
      aggregate price to the public of less than $500,000. Registrations effected
      pursuant to this Section 2.3 shall not be counted as Demand Registrations
      effected pursuant to Section 2.1.

    

    2.4 No
      Net
      Cash Settlement Value.
      In
      connection with the exercise of the Warrants and Private Placement Warrants,
      the
      Company will not be obligated to deliver securities, and there are no
      contractual penalties for failure to deliver securities, if a registration
      statement is not effective at the time of exercise; however, the Company may
      satisfy its obligation by delivering unregistered Ordinary Shares. In no event
      will the Company be required to net cash settle an exercise of a
      Warrant
      or Private Placement Warrant.

    

    3. REGISTRATION
      PROCEDURES.

    

    3.1 Filings;
      Information.
      Whenever the Company is required to effect the registration of any Registrable
      Securities pursuant to Section 2, the Company shall use its best efforts to
      effect the registration and sale of such Registrable Securities in accordance
      with the intended method(s) of distribution thereof as expeditiously as
      practicable, and in connection with any such request:

    

    3.1.1 Filing
      Registration Statement.
      The
      Company shall, as expeditiously as possible and in any event within sixty (60)
      days after receipt of a request for a Demand Registration pursuant to Section
      2.1, prepare and file with the Commission a Registration Statement on any form
      for which the Company then qualifies or which counsel for the Company shall
      deem
      appropriate and which form shall be available for the sale of all Registrable
      Securities to be registered thereunder in accordance with the intended method(s)
      of distribution thereof, and shall use its best efforts to cause such
      Registration Statement to become and remain effective for the period required
      by
      Section 3.1.3; provided,
      however,
      that
      the Company shall have the right to defer any Demand Registration for up to
      thirty (30) days, and any Piggy-Back Registration for such period as may be
      applicable to deferment of any demand registration to which such Piggy-Back
      Registration relates, in each case if the Company shall furnish to the holders
      a
      certificate signed by the Chief Executive Officer of the Company stating that,
      in the good faith judgment of the board of directors of the Company, it would
      be
      materially detrimental to the Company and its shareholders for such Registration
      Statement to be effected at such time; provided
      further,
      however,
      that
      the Company shall not have the right to exercise the right set forth in the
      immediately preceding proviso more than once in any 365-day period in respect
      of
      a Demand Registration hereunder.

     

    
      
        
        

      

      
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    3.1.2 Copies.
      The
      Company shall, prior to filing a Registration Statement or prospectus, or any
      amendment or supplement thereto, furnish without charge to the holders of
      Registrable Securities included in such registration, and such holders’ legal
      counsel, copies of such Registration Statement as proposed to be filed, each
      amendment and supplement to such Registration Statement (in each case including
      all exhibits thereto and documents incorporated by reference therein), the
      prospectus included in such Registration Statement (including each preliminary
      prospectus), and such other documents as the holders of Registrable Securities
      included in such registration or legal counsel for any such holders may request
      in order to facilitate the disposition of the Registrable Securities owned
      by
      such holders.

    

    3.1.3 Amendments
      and Supplements.
      The
      Company shall prepare and file with the Commission such amendments, including
      post-effective amendments, and supplements to such Registration Statement and
      the prospectus used in connection therewith as may be necessary to keep such
      Registration Statement effective and in compliance with the provisions of the
      Securities Act until all Registrable Securities and other securities covered
      by
      such Registration Statement have been disposed of in accordance with the
      intended method(s) of distribution set forth in such Registration Statement
      (which period shall not exceed the sum of one hundred eighty (180) days plus
      any
      period during which any such disposition is interfered with by any stop order
      or
      injunction of the Commission or any governmental agency or court) or such
      securities have been withdrawn.

    

    3.1.4 Notification.
      After
      the filing of a Registration Statement, the Company shall promptly, and in
      no
      event more than two (2) business days after such filing, notify the holders
      of
      Registrable Securities included in such Registration Statement of such filing,
      and shall further notify such holders promptly and confirm such advice in
      writing in all events within two (2) business days of the occurrence of any
      of
      the following: (i) when such Registration Statement becomes effective; (ii)
      when
      any post-effective amendment to such Registration Statement becomes effective;
      (iii) the issuance or threatened issuance by the Commission of any stop order
      (and the Company shall take all actions required to prevent the entry of such
      stop order or to remove it if entered); and (iv) any request by the Commission
      for any amendment or supplement to such Registration Statement or any prospectus
      relating thereto or for additional information or of the occurrence of an event
      requiring the preparation of a supplement or amendment to such prospectus so
      that, as thereafter delivered to the purchasers of the securities covered by
      such Registration Statement, such prospectus will not contain an untrue
      statement of a material fact or omit to state any material fact required to
      be
      stated therein or necessary to make the statements therein not misleading,
      and
      promptly make available to the holders of Registrable Securities included in
      such Registration Statement any such supplement or amendment; except that before
      filing with the Commission a Registration Statement or prospectus or any
      amendment or supplement thereto, including documents incorporated by reference,
      the Company shall furnish to the holders of Registrable Securities included
      in
      such Registration Statement and to the legal counsel for any such holders,
      copies of all such documents proposed to be filed sufficiently in advance of
      filing to provide such holders and legal counsel with a reasonable opportunity
      to review such documents and comment thereon, and the Company shall not file
      any
      Registration Statement or prospectus or amendment or supplement thereto,
      including documents incorporated by reference, to which such holders or their
      legal counsel shall object.

    

    3.1.5 State
      Securities Laws Compliance.
      The
      Company shall use its best efforts to (i) register or qualify the Registrable
      Securities covered by the Registration Statement under such securities or “blue
      sky” laws of such jurisdictions in the United States as the holders of
      Registrable Securities included in such Registration Statement (in light of
      their intended plan of distribution) may request and (ii) take such action
      necessary to cause such Registrable Securities covered by the Registration
      Statement to be registered with or approved by such other governmental
      authorities as may be necessary by virtue of the business and operations of
      the
      Company and do any and all other acts and things that may be necessary or
      advisable to enable the holders of Registrable Securities included in such
      Registration Statement to consummate the disposition of such Registrable
      Securities in such jurisdictions; provided,
      however,
      that
      the Company shall not be required to qualify generally to do business in any
      jurisdiction where it would not otherwise be required to qualify but for this
      paragraph 3.1.5 or subject itself to taxation in any such
      jurisdiction.

     

    
      
        
        

      

      
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    3.1.6 Agreements
      for Disposition.
      The
      Company shall enter into customary agreements (including, if applicable, an
      underwriting agreement in customary form) and take such other actions as are
      reasonably required in order to expedite or facilitate the disposition of such
      Registrable Securities. The representations, warranties and covenants of the
      Company in any underwriting agreement which are made to or for the benefit
      of
      any Underwriters, to the extent applicable, shall also be made to and for the
      benefit of the holders of Registrable Securities included in such registration
      statement. No holder of Registrable Securities included in such registration
      statement shall be required to make any representations or warranties in the
      underwriting agreement except, if applicable, with respect to such holder’s
      organization, good standing, authority, title to Registrable Securities, lack
      of
      conflict of such sale with such holder’s material agreements and organizational
      documents, and with respect to written information relating to such holder
      that
      such holder has furnished in writing expressly for inclusion in such
      Registration Statement. Holders of Registrable Securities shall agree to such
      covenants and indemnification and contribution obligations for selling
      stockholders as are customarily contained in agreements of that type. Further,
      such holders shall cooperate fully in the preparation of the Registration
      Statement and other documents relating to any offering in which they include
      securities pursuant to Section 2 hereof. Each holder shall also furnish to
      the
      Company such information regarding itself, the Registrable Securities held
      by
      such holder and the intended method of disposition of such securities as shall
      be reasonably required to effect the registration of the Registrable
      Securities.

    

    3.1.7 Cooperation.
      The
      principal executive officer of the Company, the principal financial officer
      of
      the Company, the principal accounting officer of the Company and all other
      officers and members of the management of the Company shall cooperate fully
      in
      any offering of Registrable Securities hereunder, which cooperation shall
      include, without limitation, the preparation of the Registration Statement
      with
      respect to such offering and all other offering materials and related documents,
      and participation in meetings with Underwriters, attorneys, accountants and
      potential investors.

    

    3.1.8 Records.
      The
      Company shall make available for inspection by the holders of Registrable
      Securities included in such Registration Statement, any Underwriter
      participating in any disposition pursuant to such registration statement and
      any
      attorney, accountant or other professional retained by any holder of Registrable
      Securities included in such Registration Statement or any Underwriter, all
      financial and other records, pertinent corporate documents and properties of
      the
      Company, as shall be necessary to enable them to exercise their due diligence
      responsibility, and cause the Company’s officers, directors and employees to
      supply all information requested by any of them in connection with such
      Registration Statement.

    

    3.1.9 Opinions
      and Comfort Letters.
      The
      Company shall furnish to each holder of Registrable Securities included in
      any
      Registration Statement a signed counterpart, addressed to such holder, of (i)
      any opinion of counsel to the Company delivered to any Underwriter and (ii)
      any
      comfort letter from the Company’s independent public accountants delivered to
      any Underwriter. In the event no legal opinion is delivered to any Underwriter,
      the Company shall furnish to each holder of Registrable Securities included
      in
      such Registration Statement, at any time that such holder elects to use a
      prospectus, an opinion of counsel to the Company to the effect that the
      Registration Statement containing such prospectus has been declared effective
      and that no stop order is in effect.

    

    3.1.10 Earnings
      Statement.
      The
      Company shall comply with all applicable rules and regulations of the Commission
      and the Securities Act, and make available to its shareholders, as soon as
      practicable, an earnings statement covering a period of twelve (12) months,
      beginning within three (3) months after the effective date of the registration
      statement, which earnings statement shall satisfy the provisions of Section
      11(a) of the Securities Act and Rule 158 thereunder.

    

    3.1.11 Listing.
      The
      Company shall use its best efforts to cause all Registrable Securities included
      in any registration to be listed on such exchanges or otherwise designated
      for
      trading in the same manner as similar securities issued by the Company are
      then
      listed or designated or, if no such similar securities are then listed or
      designated, in a manner satisfactory to the holders of a majority of the
      Registrable Securities included in such registration.

     

    
      
        
        

      

      
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    3.2 Obligation
      to Suspend Distribution.
      Upon
      receipt of any notice from the Company of the happening of any event of the
      kind
      described in Section 3.1.4(iv), or, in the case of a resale registration on
      Form
      F-3 pursuant to Section 2.3 hereof, upon any suspension by the Company, pursuant
      to a written insider trading compliance program adopted by the Company’s Board
      of Directors, of the ability of all “insiders” covered by such program to
      transact in the Company’s securities because of the existence of material
      non-public information, each holder of Registrable Securities included in any
      registration shall immediately discontinue disposition of such Registrable
      Securities pursuant to the Registration Statement covering such Registrable
      Securities until such holder receives the supplemented or amended prospectus
      contemplated by Section 3.1.4(iv) or the restriction on the ability of
“insiders” to transact in the Company’s securities is removed, as applicable,
      and, if so directed by the Company, each such holder will deliver to the Company
      all copies, other than permanent file copies then in such holder’s possession,
      of the most recent prospectus covering such Registrable Securities at the time
      of receipt of such notice.

    

    3.3 Registration
      Expenses.
      The
      Company shall bear all costs and expenses incurred in connection with any Demand
      Registration pursuant to Section 2.1, any Piggy-Back Registration pursuant
      to
      Section 2.2, and any registration on Form F-3 effected pursuant to Section
      2.3,
      and all expenses incurred in performing or complying with its other obligations
      under this Agreement, whether or not the Registration Statement becomes
      effective, including, without limitation: (i) all registration and filing fees;
      (ii) fees and expenses of compliance with securities or “blue sky” laws
      (including fees and disbursements of counsel in connection with blue sky
      qualifications of the Registrable Securities); (iii) printing expenses; (iv)
      the
      Company’s internal expenses (including, without limitation, all salaries and
      expenses of its officers and employees); (v) the fees and expenses incurred
      in
      connection with the listing of the Registrable Securities as required by Section
      3.1.11; (vi) Financial Industry Regulatory Authority fees; (vii) fees and
      disbursements of counsel for the Company and fees and expenses for independent
      certified public accountants retained by the Company (including the expenses
      or
      costs associated with the delivery of any opinions or comfort letters requested
      pursuant to Section 3.1.9); (viii) the fees and expenses of any special experts
      retained by the Company in connection with such registration and (ix) the fees
      and expenses of one legal counsel selected by the holders of a
      majority-in-interest of the Registrable Securities included in such
      registration. The Company shall have no obligation to pay any underwriting
      discounts or selling commissions attributable to the Registrable Securities
      being sold by the holders thereof, which underwriting discounts or selling
      commissions shall be borne by such holders. Additionally, in an underwritten
      offering, all selling shareholders and the Company shall bear the expenses
      of
      the Underwriter pro rata in proportion to the respective amount of shares each
      is selling in such offering.

    

    3.4 Information.
      The
      holders of Registrable Securities shall provide such information as may
      reasonably be requested by the Company, or the managing Underwriter, if any,
      in
      connection with the preparation of any Registration Statement, including
      amendments and supplements thereto, in order to effect the registration of
      any
      Registrable Securities under the Securities Act pursuant to Section 2 and in
      connection with the Company’s obligation to comply with federal and applicable
      state securities laws.

    

    3.5 Holder
      Obligations.
      No
      holder of Registrable Securities may participate in any underwritten offering
      pursuant to this Section 3 unless such holder (i) agrees to sell only such
      holder’s Registrable Securities on the basis reasonably provided in any
      underwriting agreement, and (ii) completes, executes and delivers any and all
      questionnaires, powers of attorney, custody agreements, indemnities,
      underwriting agreements and other documents reasonably required by or under
      the
      terms of any underwriting agreement or as reasonably requested by the
      Company.

    

    4. INDEMNIFICATION
      AND CONTRIBUTION.

    

    4.1 Indemnification
      by the Company.
      The
      Company agrees to indemnify and hold harmless each Investor and each other
      holder of Registrable Securities, and each of their respective officers,
      employees, affiliates, directors, partners, members, attorneys and agents,
      and
      each person, if any, who controls an Investor and each other holder of
      Registrable Securities (within the meaning of Section 15 of the Securities
      Act
      or Section 20 of the Exchange Act) (each, an “Investor
      Indemnified Party”),
      from
      and against any expenses, losses, judgments, claims, damages or liabilities,
      whether joint or several, arising out of or based upon any untrue statement
      (or
      allegedly untrue statement) of a material fact contained in any Registration
      Statement under which the sale of such Registrable Securities was registered
      under the Securities Act, any preliminary prospectus, final prospectus or
      summary prospectus contained in the Registration Statement, or any amendment
      or
      supplement to such Registration Statement, or arising out of or based upon
      any
      omission (or alleged omission) to state a material fact required to be stated
      therein or necessary to make the statements therein not misleading, or any
      violation by the Company of the Securities Act or any rule or regulation
      promulgated thereunder applicable to the Company and relating to action or
      inaction required of the Company in connection with any such registration;
      and
      the Company shall promptly reimburse the Investor Indemnified Party for any
      legal and any other expenses reasonably incurred by such Investor Indemnified
      Party in connection with investigating and defending any such expense, loss,
      judgment, claim, damage, liability or action; provided,
      however,
      that
      the Company will not be liable in any such case to the extent that any such
      expense, loss, claim, damage or liability arises out of or is based upon any
      untrue statement or allegedly untrue statement or omission or alleged omission
      made in such Registration Statement, preliminary prospectus, final prospectus,
      or summary prospectus, or any such amendment or supplement, in reliance upon
      and
      in conformity with information furnished to the Company, in writing, by such
      selling holder expressly for use therein. The Company also shall indemnify
      any
      Underwriter of the Registrable Securities or Purchase Option securities, their
      officers, affiliates, directors, partners, members and agents and each person
      who controls such Underwriter on substantially the same basis as that of the
      indemnification provided above in this Section 4.1.

     

    
      
        
        

      

      
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    4.2 Indemnification
      by Holders of Registrable Securities.
      Each
      selling holder of Registrable Securities will, in the event that any
      registration is being effected under the Securities Act pursuant to this
      Agreement of any Registrable Securities held by such selling holder, indemnify
      and hold harmless the Company, each of its directors and officers and each
      Underwriter (if any), and each other person, if any, who controls the company
      or
      such Underwriter within the meaning of the Securities Act, against any losses,
      claims, judgments, damages or liabilities, whether joint or several, insofar
      as
      such losses, claims, judgments, damages or liabilities (or actions in respect
      thereof) arise out of or are based upon any untrue statement or allegedly untrue
      statement of a material fact contained in any Registration Statement under
      which
      the sale of such Registrable Securities was registered under the Securities
      Act,
      any preliminary prospectus, final prospectus or summary prospectus contained
      in
      the Registration Statement, or any amendment or supplement to the Registration
      Statement, or arise out of or are based upon any omission or the alleged
      omission to state a material fact required to be stated therein or necessary
      to
      make the statement therein not misleading, if the statement or omission was
      made
      in reliance upon and in conformity with information furnished in writing to
      the
      Company by such selling holder expressly for use therein, and shall reimburse
      the Company, its directors and officers, and each such controlling person for
      any legal or other expenses reasonably incurred by any of them in connection
      with investigation or defending any such loss, claim, damage, liability or
      action. Each selling holder’s indemnification obligations hereunder shall be
      several and not joint and shall be limited to the amount of any net proceeds
      actually received by such selling holder in connection with the sale of the
      Registrable Securities by such selling holder pursuant to the Registration
      Statement containing such untrue statement.

    

    4.3 Conduct
      of Indemnification Proceedings.
      Promptly after receipt by any person of any notice of any loss, claim, damage
      or
      liability or any action in respect of which indemnity may be sought pursuant
      to
      Section 4.1 or 4.2, such person (the “Indemnified
      Party”)
      shall,
      if a claim in respect thereof is to be made against any other person for
      indemnification hereunder, notify such other person (the “Indemnifying
      Party”)
      in
      writing of the loss, claim, judgment, damage, liability or action; provided,
      however,
      that
      the failure by the Indemnified Party to notify the Indemnifying Party shall
      not
      relieve the Indemnifying Party from any liability which the Indemnifying Party
      may have to such Indemnified Party hereunder, except and solely to the extent
      the Indemnifying Party is actually prejudiced by such failure. If the
      Indemnified Party is seeking indemnification with respect to any claim or action
      brought against the Indemnified Party, then the Indemnifying Party shall be
      entitled to participate in such claim or action, and, to the extent that it
      wishes, jointly with all other Indemnifying Parties, to assume control of the
      defense thereof with counsel satisfactory to the Indemnified Party. After notice
      from the Indemnifying Party to the Indemnified Party of its election to assume
      control of the defense of such claim or action, the Indemnifying Party shall
      not
      be liable to the Indemnified Party for any legal or other expenses subsequently
      incurred by the Indemnified Party in connection with the defense thereof other
      than reasonable costs of investigation; provided,
      however,
      that in
      any action in which both the Indemnified Party and the Indemnifying Party are
      named as defendants, the Indemnified Party shall have the right to employ
      separate counsel (but no more than one such separate counsel) to represent
      the
      Indemnified Party and its controlling persons who may be subject to liability
      arising out of any claim in respect of which indemnity may be sought by the
      Indemnified Party against the Indemnifying Party, with the fees and expenses
      of
      such counsel to be paid by such Indemnifying Party if, based upon the written
      opinion of counsel of such Indemnified Party, representation of both parties
      by
      the same counsel would be inappropriate due to actual or potential differing
      interests between them. No Indemnifying Party shall, without the prior written
      consent of the Indemnified Party, consent to entry of judgment or effect any
      settlement of any claim or pending or threatened proceeding in respect of which
      the Indemnified Party is or could have been a party and indemnity could have
      been sought hereunder by such Indemnified Party, unless such judgment or
      settlement includes an unconditional release of such Indemnified Party from
      all
      liability arising out of such claim or proceeding.

    

    
      
        
        

      

      
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    4.4 Contribution.

    

    4.4.1 If
      the
      indemnification provided for in the foregoing Sections 4.1, 4.2 and 4.3 is
      unavailable to any Indemnified Party in respect of any loss, claim, damage,
      liability or action referred to herein, then each such Indemnifying Party,
      in
      lieu of indemnifying such Indemnified Party, shall contribute to the amount
      paid
      or payable by such Indemnified Party as a result of such loss, claim, damage,
      liability or action in such proportion as is appropriate to reflect the relative
      fault of the Indemnified Parties and the Indemnifying Parties in connection
      with
      the actions or omissions which resulted in such loss, claim, damage, liability
      or action, as well as any other relevant equitable considerations. The relative
      fault of any Indemnified Party and any Indemnifying Party shall be determined
      by
      reference to, among other things, whether the untrue or alleged untrue statement
      of a material fact or the omission or alleged omission to state a material
      fact
      relates to information supplied by such Indemnified Party or such Indemnifying
      Party and the parties’ relative intent, knowledge, access to information and
      opportunity to correct or prevent such statement or omission.

    

    4.4.2 The
      parties hereto agree that it would not be just and equitable if contribution
      pursuant to this Section 4.4 were determined by pro rata allocation or by any
      other method of allocation which does not take account of the equitable
      considerations referred to in the immediately preceding Section 4.4.1. The
      amount paid or payable by an Indemnified Party as a result of any loss, claim,
      damage, liability or action referred to in the immediately preceding paragraph
      shall be deemed to include, subject to the limitations set forth above, any
      legal or other expenses incurred by such Indemnified Party in connection with
      investigating or defending any such action or claim. Notwithstanding the
      provisions of this Section 4.4, no holder of Registrable Securities shall be
      required to contribute any amount in excess of the dollar amount of the net
      proceeds (after payment of any underwriting fees, discounts, commissions or
      taxes) actually received by such holder from the sale of Registrable Securities
      which gave rise to such contribution obligation. No person guilty of fraudulent
      misrepresentation (within the meaning of Section 11(f) of the Securities Act)
      shall be entitled to contribution from any person who was not guilty of such
      fraudulent misrepresentation.

    

    5. UNDERWRITING
      AND DISTRIBUTION.

    

    5.1 Rule
      144.
      The
      Company covenants that it shall file all reports required to be filed by it
      under the Securities Act and the Exchange Act and shall take such further action
      as the holders of Registrable Securities may reasonably request, all to the
      extent required from time to time to enable such holders to sell Registrable
      Securities without registration under the Securities Act within the limitation
      of the exemptions provided by Rule 144 under the Securities Act, as such Rules
      may be amended from time to time, or any similar Rule or regulation hereafter
      adopted by the Commission.

    

    6. MISCELLANEOUS.

    

    6.1 Other
      Registration Rights.
      The
      Company represents and warrants that, except for the securities issued or
      issuable upon exercise of the Purchase Option, no person, other than a holder
      of
      the Registrable Securities has any right to require the Company to register
      any
      shares of the Company’s capital stock for sale or to include shares of the
      Company’s capital stock in any registration filed by the Company for the sale of
      shares of capital stock for its own account or for the account of any other
      person.

    

    6.2 Assignment;
      No Third Party Beneficiaries.
      This
      Agreement and the rights, duties and obligations of the Company hereunder may
      not be assigned or delegated by the Company in whole or in part. This Agreement
      and the rights, duties and obligations of the holders of Registrable Securities
      hereunder may be freely assigned or delegated by such holder of Registrable
      Securities in conjunction with and to the extent of any transfer of Registrable
      Securities by any such holder. This Agreement and the provisions hereof shall
      be
      binding upon and shall inure to the benefit of each of the parties and their
      respective successors and the permitted assigns of the Investor or holder of
      Registrable Securities or of any assignee of the Investor or holder of
      Registrable Securities. This Agreement is not intended to confer any rights
      or
      benefits on any persons that are not party hereto other than as expressly set
      forth in Article 4 and this Section 6.2.

     

    
      
        
        

      

      
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    6.3 Notices.
      All
      notices, demands, requests, consents, approvals or other communications
      (collectively, “Notices”)
      required or permitted to be given hereunder or which are given with respect
      to
      this Agreement shall be in writing and shall be personally served, delivered
      by
      reputable air courier service with charges prepaid, or transmitted by hand
      delivery, telegram, telex or facsimile, addressed as set forth below, or to
      such
      other address as such party shall have specified most recently by written
      notice. Notice shall be deemed given on the date of service or transmission
      if
      personally served or transmitted by telegram, telex or facsimile; provided,
      that if
      such service or transmission is not on a business day or is after normal
      business hours, then such notice shall be deemed given on the next business
      day.
      Notice otherwise sent as provided herein shall be deemed given on the next
      business day following timely delivery of such notice to a reputable air courier
      service with an order for next-day delivery.

    

    To
      the
      Company:

    

    Suite
      18E, Tower A

    Oriental
      Kenzo Plaza

    48
      Dongzhimenwai Street

    Beijing,
      100027, China

    Fax
      No:.
      86-10-84477246

    Attn:
      Xiaosong Zhong, Chief Financial Officer

    

    with
      a
      copy to:

    

    Richardson
      & Patel LLP

    405
      Lexington Avenue, 26th Floor

    New
      York,
      New York 10174

    Fax
      No.:
      (212) 907-6687

    Attn.:
      Jody R. Samuels, Esq.

    

    To
      an
      Investor, to:

    
                                             

                                             

                                             

    

    Fax
      No.:
      (___) ___-____

    Attn.:                                                  

    

    6.4 Severability.
      This
      Agreement shall be deemed severable, and the invalidity or unenforceability
      of
      any term or provision hereof shall not affect the validity or enforceability
      of
      this Agreement or of any other term or provision hereof. Furthermore, in lieu
      of
      any such invalid or unenforceable term or provision, the parties hereto intend
      that there shall be added as a part of this Agreement a provision as similar
      in
      terms to such invalid or unenforceable provision as may be possible and be
      valid
      and enforceable.

    

    6.5 Counterparts;
      Facsimile Signatures.
      This
      Agreement may be executed in multiple counterparts, each of which shall be
      deemed an original, and all of which taken together shall constitute one and
      the
      same instrument. Facsimile signatures shall be deemed to be original signatures
      for all purposes of this Agreement.

    

    6.6 Entire
      Agreement.
      This
      Agreement (including all agreements entered into pursuant hereto and all
      certificates and instruments delivered pursuant hereto and thereto) constitute
      the entire agreement of the parties with respect to the subject matter hereof
      and supersede all prior and contemporaneous agreements, representations,
      understandings, negotiations and discussions between the parties, whether oral
      or written.

    

    6.7 Modifications
      and Amendments.
      No
      amendment, modification or termination of this Agreement shall be binding upon
      any party unless executed in writing by such party.

    

    6.8 Titles
      and Headings.
      Titles
      and headings of sections of this Agreement are for convenience only and shall
      not affect the construction of any provision of this Agreement.

     

    
      
        
        

      

      
        11

        
          

        

      

      
        
        

      

    

     

    6.9 Waivers
      and Extensions.
      Any
      party to this Agreement may waive any right, breach or default which such party
      has the right to waive, provided that such waiver will not be effective against
      the waiving party unless it is in writing, is signed by such party, and
      specifically refers to this Agreement. Waivers may be made in advance or after
      the right waived has arisen or the breach or default waived has occurred. Any
      waiver may be conditional. No waiver of any breach of any agreement or provision
      herein contained shall be deemed a waiver of any preceding or succeeding breach
      thereof nor of any other agreement or provision herein contained. No waiver
      or
      extension of time for performance of any obligations or acts shall be deemed
      a
      waiver or extension of the time for performance of any other obligations or
      acts.

    

    6.10 Specific
      Performance.
      Each of
      the parties acknowledges and agrees that the other parties would be damaged
      irreparably in the event any of the provisions of this Agreement are not
      performed in accordance with their specific terms or otherwise are breached.
      Accordingly, each of the parties agrees that the other parties shall be entitled
      to an injunction or injunctions (without the necessity of posting a bond or
      other security) to prevent breaches of the provisions of this Agreement and
      to
      enforce specifically this Agreement and the terms and provisions hereof in
      any
      action instituted in any court of the United States or any state or other
      foreign court or governmental body having jurisdiction over the parties and
      the
      matter, in addition to any other remedy to which they may be entitled, at law
      or
      in equity.

    

    6.11 Remedies
      Cumulative.
      In the
      event that the Company fails to observe or perform any covenant or agreement
      to
      be observed or performed under this Agreement, the Investor or any other holder
      of Registrable Securities may proceed to protect and enforce its rights by
      suit
      in equity or action at law, whether for specific performance of any term
      contained in this Agreement or for an injunction against the breach of any
      such
      term or in aid of the exercise of any power granted in this Agreement or to
      enforce any other legal or equitable right, or to take any one or more of such
      actions, without being required to post a bond. None of the rights, powers
      or
      remedies conferred under this Agreement shall be mutually exclusive, and each
      such right, power or remedy shall be cumulative and in addition to any other
      right, power or remedy, whether conferred by this Agreement or now or hereafter
      available at law, in equity, by statute or otherwise.

    

    6.12 Governing
      Law.
      This
      Agreement shall be governed by, interpreted under, and construed in accordance
      with the internal laws of the State of New York applicable to agreements made
      and to be performed within the State of New York, without giving effect to
      any
      choice-of-law provisions thereof that would compel the application of the
      substantive laws of any other jurisdiction. Each of the parties hereby agrees
      that any action, proceeding or claim against it arising out of or relating
      in
      any way to this Agreement shall be brought and enforced in the courts of the
      State of New York or the United States District Court for the Southern District
      of New York, and irrevocably submits to such jurisdiction, which jurisdiction
      shall be exclusive. Each of the parties hereby waives any objection to such
      exclusive jurisdiction and that such courts represent an inconvenient
      forum.

    

    6.13 Waiver
      of Trial by Jury.
      Each
      party hereby irrevocably and unconditionally waives the right to a trial by
      jury
      in any action, suit, counterclaim or other proceeding (whether based on
      contract, tort or otherwise) arising out of, connected with or relating to
      this
      Agreement, the transactions contemplated hereby, or the actions of the Investor
      in the negotiation, administration, performance or enforcement
      hereof.

     

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    IN
      WITNESS WHEREOF,
      the
      parties have caused this Registration Rights Agreement to be executed and
      delivered by their duly authorized representatives as of the date first written
      above.

    

    
      	
              CHARDAN
                2008 CHINA ACQUISITION CORP.

            
	 	 
	
              By:

            	 
	 	
              Name:
                Kerry Propper

            
	 	
              Title:
                Chief Executive Officer and
                Director

            

    

     

    
      	
              INVESTOR

            
	 	 
	
              By:

            	 
	 	
              Name:
                

            
	 	
              Title:
                

            

    

     

    
      
        
        

      

      
        13

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