Document:

SECURITIES EXCHANGE AGREEMENT

     

    This
Securities Exchange Agreement (this “Agreement”) is dated
as of March 18, 2010, between among Sunway Global, Inc., a Nevada corporation
(the “Company”), and each
security holder identified on the signature pages hereto (each, including its
successors and assigns, a “Holder” and
collectively, the “Holders”).

     

    WHEREAS,
subject to the terms and conditions set forth in this Agreement and pursuant to
Section 3(a)(9) of the Securities Act of 1933, as amended (the “Securities Act”), the Company
desires to exchange with each Holder, and each Holder, severally and not
jointly, desires to exchange with the Company, securities of the Company as more
fully described in this Agreement.

     

    WHEREAS,
the Holders currently hold certain warrants as set forth in Schedule A (the
(“Warrants”), that are exercisable for shares of Company Common Stock with
$0.0000001 par value per share (“Common
Stock”).

     

    WHEREAS,
the Holders intend to exchange the Warrants pursuant to this Agreement, for
shares of the Common Stock of the Company.

     

    NOW,
THEREFORE, IN CONSIDERATION of the mutual covenants contained in this Agreement,
and for other good and valuable consideration the receipt and adequacy of which
are hereby acknowledged, the Company and each Holder agree as
follows:

     

    ARTICLE I

     

    DEFINITIONS

     

    1.1            Definitions.  In
addition to the terms defined elsewhere in this Agreement the following terms
have the meanings set forth in this Section 1.1:

     

    “Closing” means the
closing of the exchange pursuant to Section 2.

     

    “Closing Date” means the day,
when all of the Transaction Documents have been executed and delivered to the
applicable Parties, all Closing Conditions as set forth in Section 2.5 have been
met, and all conditions precedent to (i) the Holders’ obligations to deliver the
Securities to be exchanged and (ii) the Company’s obligations to deliver the
Common Stock have been satisfied or waived.

     

    “Commission” means the
United States Securities and Exchange Commission.

     

    “Company
Counsel” means Sichenzia Ross Friedman Ference LLP, with an address
at 61 Broadway New York, New York 10006

     

    “Principal
Shareholders” shall mean the persons listed on Schedule A of the
Securites Escrow Agreement.

     

    “Proceeding” means an
action, claim, suit, investigation or proceeding (including, without limitation,
an informal investigation or partial proceeding, such as a deposition), whether
commenced or threatened.

     

    “Qualified Financing” means an
offering of Company’s equity securities with minimum new proceeds to the Company
of $10 million at a per share price acceptable to the Company and the
Holders.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    “Securities Act” means the
Securities Act of 1933, as amended, and the rules and regulations promulgated
thereunder.

     

    “Securities Escrow
Agreement” means the Securities Escrow Agreement entered into between the
Parties on the date of this Agreement.

     

    “Signing” means the
signing of the Transaction Documents by the Parties and delivery of signed
Transaction Documents to the Parties.

     

    “Trading Day” means a
day on which the principal Trading Market is open for trading.

     

    “Trading Market” means
the following markets or exchanges on which the Common Stock is listed or quoted
for trading on the date in question: the NYSE Amex, the Nasdaq Capital Market,
the Nasdaq Global Market, the Nasdaq Global Select Market, the New York Stock
Exchange or the OTC Bulletin Board.

     

    “Transaction
Documents” means this Agreement and the Securities Escrow Agreement and
all schedules and exhibits thereto.

     

    “Vision” means Vision
Opportunity Master Fund, Ltd. having its principal offices at 20 W 55th street,
5th
floor, New York, NY 10019.

     

    ARTICLE II

     

    EXCHANGE

     

    2.1           Terms of Exchange.
Subject to the terms and conditions set forth herein, the Holders agree to
exchange the Warrants for an aggregate of two million (2,000,000) shares of
Restricted Shares (the “Shares”) as set forth in Schedule A, and the
Company agrees to issue the Shares in exchange for the Warrants.

     

    2.2           Signing. The Signing
will occur at the offices of the Company Counsel or such other location as the
parties shall mutually agree.

     

    2.3           Deliveries Upon
Signing. In connection with the Signing:

     

    a)            the
Company shall deliver or cause to be delivered to the Holders this Agreement
duly executed by the Company;

     

    b)            the
Principal Shareholders shall deliver or cause to be delivered the following to
Company Counsel each Holder the Securities Escrow Agreement duly executed by
each Principal Shareholder and the Company; and

     

    c)            the
Holders shall deliver or cause to be delivered to the Company this Agreement
duly executed by the Holder and to Company Counsel the Securities Escrow
Agreement duly executed by the Holder.

     

    2.4           Closing. On the
Closing Date, each Holder shall deliver to the Company or to Company Counsel
their Warrants and the Company shall deliver to each Holder their respective
shares of Common Stock pursuant to the terms of this Agreement.  Upon
satisfaction of the conditions set forth herein, the Closing shall occur at the
principal offices of the Company Counsel, or such other location as the parties
shall mutually agree.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    2.5           Closing Deliveries.
At the Closing:

     

    a)           the
Company shall deliver or cause to be delivered to each Holder a certificate
evidencing the Shares;

     

    b)           each
Holder shall deliver or cause to be delivered to Company Counsel such Holder’s
Warrants endorsed such that the Warrants may be cancelled by the Company;
and

     

    c)           the
Principal Shareholders shall deliver to the Escrow Agent (as defined in the
Securities Escrow agreement) one million (1,000,000) shares of Company’s Common
Stock held by the Principal Shareholders in accordance with the Securities
Escrow Agreement.

     

    2.6           Closing
Conditions:

     

    a)           The
obligations of the Company hereunder in connection with the Closing are subject
to the following conditions being met:

     

    (i)           all
obligations, covenants and agreements of each Holder required to be performed at
or prior to the Closing Date shall have been performed; and

     

    (ii)       
   the delivery by each Holder of the items set forth in Section
2.5(b) of this Agreement.

     

    b)           The
respective obligations of the Holders hereunder in connection with the Closing
are subject to the following conditions being met:

     

    (i)           all
obligations, covenants and agreements of the Company required to be performed at
or prior to the Closing Date shall have been performed;

     

    (ii)          the
delivery by the Company of the items set forth in Sections 2.5(a);

     

    (iii)         the
delivery by the Principal Shareholders of the items set forth in Section 2.5(c)
of this Agreement;

     

    (iv)         simultaneously
with or prior to the Closing, there shall have occurred a closing of a Qualified
Financing;

     

    (v)          there
shall have been no Material Adverse Effect with respect to the Company since the
date hereof; and

     

    (vi)         from
the date hereof to the Closing Date, trading in the Common Stock shall not have
been suspended by the Commission or the Company’s principal Trading Market
(except for any suspension of trading of limited duration agreed to by the
Company, which suspension shall be terminated prior to the Closing), and, at any
time prior to the Closing Date, trading in securities generally as reported by
Bloomberg L.P. shall not have been suspended or limited, or minimum prices shall
not have been established on securities whose trades are reported by such
service, or on any Trading Market, nor shall a banking moratorium have been
declared either by the United States or New York State authorities nor shall
there have occurred any material outbreak or escalation of hostilities or other
national or international calamity of such magnitude in its effect on, or any
material adverse change in, any financial market which, in each case, in the
reasonable judgment of each Holder, makes it impracticable or inadvisable to
perform the exchange at the Closing.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    ARTICLE III

     

    REPRESENTATIONS AND WARRANTIES

     

    3.1           Representations and
Warranties of the Company.  The
Company hereby makes the following representations and warranties to each
Holder:

     

    (a)           Authorization;
Enforcement. The Company has the requisite corporate power and
authority to enter into and to consummate the transactions contemplated by each
of the Transaction Documents and otherwise to carry out its obligations
hereunder and thereunder.  The execution and delivery of each of the
Transaction Documents by the Company and the consummation by it of the
transactions contemplated hereby and thereby have been duly authorized by all
necessary action on the part of the Company and no further action is required by
the Company, the Board of Directors of the Company or the Company’s stockholders
in connection therewith other than in connection with the Required
Approvals.  Each Transaction Document to which it is a party has been
(or upon delivery will have been) duly executed by the Company and, when
delivered in accordance with the terms hereof and thereof, will constitute the
valid and binding obligation of the Company enforceable against the Company in
accordance with its terms, except: (i) as limited by general equitable
principles and applicable bankruptcy, insolvency, reorganization, moratorium and
other laws of general application affecting enforcement of creditors’ rights
generally, (ii) as limited by laws relating to the availability of specific
performance, injunctive relief or other equitable remedies and (iii) insofar as
indemnification and contribution provisions may be limited by applicable
law.

     

    3.2           Representations and
Warranties of the Holders.  Each Holder, for itself and for no
other Holder, hereby represents and warrants as of the date hereof and as of the
Closing Date to the Company as follows:

     

    (a)           Organization;
Authority.  Such Holder is an entity duly organized, validly
existing and in good standing under the laws of the jurisdiction of its
organization with full right, corporate or partnership power and authority to
enter into and to consummate the transactions contemplated by the Transaction
Documents and otherwise to carry out its obligations hereunder and thereunder.
The execution and delivery of the Transaction Documents and performance by such
Holder of the transactions contemplated by the Transaction Documents have been
duly authorized by all necessary corporate or similar action on the part of such
Holder.  Each Transaction Document to which it is a party has been
duly executed by such Holder, and when delivered by such Holder in accordance
with the terms hereof, will constitute the valid and legally binding obligation
of such Holder, enforceable against it in accordance with its terms, except: (i)
as limited by general equitable principles and applicable bankruptcy,
insolvency, reorganization, moratorium and other laws of general application
affecting enforcement of creditors’ rights generally, (ii) as limited by laws
relating to the availability of specific performance, injunctive relief or other
equitable remedies and (iii) insofar as indemnification and contribution
provisions may be limited by applicable law.

     

    (b)           Restricted
Securities.  Such Holder understands that the Shares are
“restricted securities” and have not been registered under the Securities Act of
1933 or any applicable state securities law and that certificates
evidencing the Shares may bear a legend to that effect.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    ARTICLE
IV.

     

    OTHER AGREEMENTS OF THE
PARTIES

     

    4.1           Registration Rights. The Shares shall
have the same registration rights as the Common Stock underlying the Warrants as
ste forth in Registration Rights Agreement dated June 5, 2007 between the
Company and certain purchasers listed therein.

     

    ARTICLE
V

     

    MISCELLANEOUS

     

    5.1           Successors and
Assigns .  This Agreement shall be binding upon and inure
to the benefit of the parties and their successors and permitted
assigns.  The Company may not assign this Agreement or any rights or
obligations hereunder without the prior written consent of each Holder (other
than by merger).  Any Holder may assign any or all of its rights under
this Agreement to any person to whom such Holder assigns or transfers any
Warrants, provided that such transferee agrees in writing to be bound, with
respect to the transferred Warrants, by the provisions of the Transaction
Documents that apply to the “Holders.”

     

    5.2           Governing
Law .  All questions concerning the construction,
validity, enforcement and interpretation of the Transaction Documents shall be
governed by and construed and enforced in accordance with the internal laws of
the State of New York, without regard to the principles of conflicts of law
thereof.  Each party agrees that all legal Proceedings concerning the
interpretations, enforcement and defense of the transactions contemplated by
this Agreement and any other Transaction Documents (whether brought against a
party hereto or its respective affiliates, directors, officers, shareholders,
employees or agents) shall be commenced exclusively in the state and federal
courts sitting in the City of New York.  Each party hereby irrevocably
submits to the exclusive jurisdiction of the state and federal courts sitting in
the City of New York, borough of Manhattan for the adjudication of any dispute
hereunder or in connection herewith or with any transaction contemplated hereby
or discussed herein (including with respect to the enforcement of any of the
Transaction Documents), and hereby irrevocably waives, and agrees not to assert
in any suit, action or Proceeding, any claim that it is not personally subject
to the jurisdiction of any such court, that such suit, action or Proceeding is
improper or is an  inconvenient venue for such
Proceeding.  Each party hereby irrevocably waives personal service of
process and consents to process being served in any such suit, action or
Proceeding by mailing a copy thereof via registered or certified mail or
overnight delivery (with evidence of delivery) to such party at the address in
effect for notices to it under this Agreement and agrees that such service shall
constitute good and sufficient service of process and notice
thereof.  Nothing contained herein shall be deemed to limit in any way
any right to serve process in any other manner permitted by law.  If
either party shall commence an action or Proceeding to enforce any provisions of
the Transaction Documents, then the prevailing party in such action or
Proceeding shall be reimbursed by the other party for its reasonable attorneys’
fees and other costs and expenses incurred with the investigation, preparation
and prosecution of such action or Proceeding.

     

    5.3           WAIVER OF
JURY TRIAL .  IN ANY ACTION, SUIT, OR
PROCEEDING IN ANY JURISDICTION BROUGHT BY ANY PARTY AGAINST ANY OTHER PARTY, THE
PARTIES EACH KNOWINGLY AND INTENTIONALLY, TO THE GREATEST EXTENT PERMITTED BY
APPLICABLE LAW, HEREBY ABSOLUTELY, UNCONDITIONALLY, IRREVOCABLY AND EXPRESSLY
WAIVES FOREVER TRIAL BY JURY.

     

    (Signature
Pages Follow)

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    IN
WITNESS WHEREOF, the parties hereto have caused this Securities Exchange
Agreement to be duly executed by their respective authorized signatories as of
the date first indicated above.

     

    
      
        
          
            	
                    SUNWAY
      GLOBAL, INC.

                  	 
      	
                    Address for Notice:

                  
	 
      	 
      	 
      	 
      
	
                    By:

                  	
                    /s/
      Bo Liu

                  	 
      	 
      
	 
      	
                    Name:

                  	 
      	 
      
	 
      	
                    Title:

                  	 
      	
                    Tel:

                  
	 
      	 
      	 
      	
                    Fax:

                  

          

        

      

    

    

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

    

    [REMAINDER
OF PAGE INTENTIONALLY LEFT BLANK

    SIGNATURE
PAGE FOR PURCHASER FOLLOWS]

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    [PURCHASER
SIGNATURE PAGES TO SECURITIES EXCHANGE AGREEMENT]

    

    IN
WITNESS WHEREOF, the undersigned have caused this Securities Exchange Agreement
to be duly executed by their respective authorized signatories as of the date
first indicated above.

    

    
      
        
          	
                  Name
      of Holder:

                	
                  Vision
      Opportunity Master Fund, Ltd.

                
	 
      	 
      
	
                  Signature
      of Authorized Signatory of Holder:

                	
                  /s/ Adam Benowitz

                
	 
      	 
      
	
                  Name
      of Authorized Signatory:

                	
                  Adam
      Benowitz

                
	 
      	 
      
	
                  Title
      of Authorized Signatory:

                	
                  Director

                
	 
      	 
      
	
                  Address
      for Notice of Holder:

                	
                  20
      W 55th
      Street, 5th
      floor, New York, NY 10019

                
	 
      	 
      
	
                  Address
      for Delivery of Shares for Holder:

                	
                  Same
      as above

                

        

      

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    [PURCHASER
SIGNATURE PAGES TO SECURITIES EXCHANGE AGREEMENT]

    

    IN
WITNESS WHEREOF, the undersigned have caused this Securities Exchange Agreement
to be duly executed by their respective authorized signatories as of the date
first indicated above.

    

    
      
        
          	
                  Name
      of Holder:

                	
                  Vision
      Capital Advantage Fund, LP

                
	 
      	 
      
	
                  Signature
      of Authorized Signatory of Holder:

                	
                  /s/ Adam Benowitz

                
	 
      	 
      
	
                  Name
      of Authorized Signatory:

                	
                  Adam
      Benowitz

                
	 
      	 
      
	
                  Title
      of Authorized Signatory:

                	
                  Authorized
      Signatory

                
	 
      	 
      
	
                  Address
      for Notice of Holder:

                	
                  20
      W 55th
      Street, 5th
      floor, New York, NY 10019

                
	 
      	 
      
	
                  Address
      for Delivery of Shares for Holder:

                	
                  Same
      as above

                

        

      

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    Schedule A

    

    
      
        
          
            
              
                
                  
                    
                      
                        
                          
                            
                              
                                
                                  
                                    
                                      	 
      	 	 	 	 	 	 	 	 	 	 	 	 	 	
                                              Shares of

                                            	 
	 
      	 	 	 	 	 	 	 	 	 	 	 	 	 	
                                              Common

                                            	 
	 
      	 	
                                              Warrants to be Exchanged

                                            	 	 	
                                              Stock to be

                                            	 
	
                                              Shareholder

                                            	 	
                                              Warrant A

                                            	 	 	
                                              Warrant B

                                            	 	 	
                                              Warrant C

                                            	 	 	
                                              Warrant D

                                            	 	 	
                                              Issued

                                            	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
                                              Vision
      Opportunity Master Fund, Ltd.

                                            	 	 	4,265,613	 	 	 	2,132,806	 	 	 	3,864,817	 	 	 	1,932,409	 	 	 	1,771,870	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
                                              Vision
      Capital Advantage Fund, LP

                                            	 	 	549,202	 	 	 	274,601	 	 	 	497,599	 	 	 	248,799	 	 	 	228,130Unassociated Document

     

    SECURITIES ESCROW
AGREEMENT

    

    THIS
SECURITIES ESCROW AGREEMENT (the “Agreement”), dated as
of April 5, 2010, is entered into by and among Sunway Global, Inc., a Nevada
corporation (the “Company”), certain
holders of the Company’s warrants as listed on Schedule A of the
Securities Exchange Agreement (individually, the “Holder” or
collectively the “Holders”), Vision
Opportunity Master Fund, Ltd. a Cayman Islands corporation, as representative of
the Holders (the “Holder
Representative”), each entity listed on Schedule A hereto
(collectively, the “Principal
Shareholders”), and Sichenzia Ross Friedman Ference LLP, with an address
at 61 Broadway New York, New York 10006 (the “Escrow Agent”).
Capitalized terms used but not defined herein shall have the meanings set forth
in the Purchase Agreement (as defined below).

     

    WITNESSETH:

     

    WHEREAS,
the Holders will be exchanging with the Company their Warrants into shares of
Common Stock, par value $0.0000001 per share (the “Common
Stock”);

     

    WHEREAS,
as an inducement to the Holders to enter into the Securities Exchange Agreement,
the Principal Shareholders have agreed to place the Escrow Shares (as
hereinafter defined) into escrow for the benefit of the Holders in the event the
Company fails to achieve the Milestones (as hereinafter defined) by December 31,
2010 (the “Due Date”); and

     

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

     

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

     

    ARTICLE
I

     

    TERMS OF
THE ESCROW

     

    1.1.           The
parties hereby agree to establish an escrow account with the Escrow Agent
whereby the Escrow Agent shall hold the Escrow Shares as contemplated by this
Agreement.

     

    1.2.           Upon
the execution of this Agreement, the Principal Shareholders shall deliver to the
Escrow Agent stock certificates evidencing an amount of Common Stock equal to
one million (1,000,000) shares as set forth on Schedule A hereto
(the “Escrow
Shares”), along with updated stock powers executed in blank.

     

    1.3.           The
Escrow Shares shall be delivered as set forth below:

     

      (i)           First Milestone. Upon
Company achieving a public listing and trading of its Common Stock on NASDAQ,
AMEX or NYSE (each, a “Qualified Exchange”) by Due Date (“First Milestone”),
five hundred thousand (500,000) Escrow Shares shall be released back to the
Principal Shareholders pro rata.  If the Company does not achieve the
First Milestone by Due Date, five hundred thousand (500,000) Escrow Shares shall
be distributed to the Holders pro rata based on Schedule A of the Securities
Exchange Agreement.

     

      (ii)           Second Milestone. If
the Company’s stock has traded on a Qualified Exchange with a closing price of
$3.75 or more for twenty (20) trading days out of the last thirty (30) trading
days with an average daily trading volume of at least 70,000 shares, measured on
December 31, 2010, (“Second Milestone”) five hundred thousand (500,000) Escrow
Shares shall be released back to the Principal Shareholders pro
rata.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

     
(iii)         If the Company does
not achieve the Second Milestone by Due Date, five hundred thousand (500,000)
Escrow Shares shall be distributed to the Holders pro rata based on Schedule A
of the Securities Exchange Agreement.

     

    1.4.           If
the Company does not achieve the First Milestone or the Second Milestone the
Company shall use best efforts, in each case, to promptly cause the Escrow
Shares to be delivered to the Holders, including causing its transfer agent
promptly to issue the certificates in the names of the Holders and causing its
securities counsel to provide any written instruction required by the Escrow
Agent in a timely manner so that the issuances and delivery contemplated above
can be achieved within five business days following the Due Date to the
Holder.

     

    1.5.           Upon
the written request of the Company and Holder Representative, the Escrow Agent
shall deliver the Escrow Shares, to each Holder and/or each Principal
Shareholder pursuant to the written instructions of the Company and Holder
Representative.

     

    ARTICLE
II

    REPRESENTATIONS
OF THE PRINCIPAL SHAREHOLDERS

     

    2.1.           Each
Principal Shareholder hereby represents and warrants to the Holders and the
Holder Representative as follows:

     

     
(i)           The
Escrow Shares placed into escrow hereunder by the Principal Shareholder are
validly issued, fully paid and nonassessable shares of the Company. The
Principal Shareholder is the record and beneficial owner of the Escrow Shares
placed into escrow pursuant to this Agreement by the Principal Shareholder and
has good title to such Escrow Shares, free and clear of all pledges, liens,
claims and encumbrances, except encumbrances created by this Agreement. There
are no restrictions on the ability of the Principal Shareholder to transfer the
Escrow Shares placed into escrow pursuant to this Agreement by the Principal
Shareholder or to enter into this Agreement other than transfer restrictions
under applicable federal and state securities laws. Upon any delivery of Escrow
Shares placed into escrow pursuant to this Agreement by the Principal
Shareholder to the Holders hereunder, the Holders will acquire good and valid
title to such Escrow Shares, free and clear of any pledges, liens, claims and
encumbrances.

     

     
(ii)           The
performance of this Agreement and compliance with the provisions hereof will not
violate any provision of any law applicable to the Principal Shareholder and
will not conflict with or result in any breach of any of the terms, conditions
or provisions of, or constitute a default under, or result in the creation or
imposition of any lien, charge or encumbrance upon, any of the properties or
assets of the Principal Shareholder pursuant to the terms of the certificate of
incorporation or by-laws of the Company or any indenture, mortgage, deed of
trust or other agreement or instrument binding upon the Principal Shareholder or
affecting the Escrow Shares. No notice to, filing with, or authorization,
registration, consent or approval of any governmental authority or other person
is necessary for the execution, delivery or performance of this Agreement or the
consummation of the transactions contemplated hereby by the Principal
Shareholder.

     

    ARTICLE
III

    MISCELLANEOUS

     

    3.1.           The
Company will pay Escrow Agent a total of $1,000 for all services rendered by
Escrow Agent hereunder.

     

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

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    All
notices, demands, consents, requests, instructions and other communications to
be given or delivered or permitted under or by reason of the provisions of this
Agreement or in connection with the transactions contemplated hereby shall be in
writing and shall be deemed to be delivered and received by the intended
recipient as follows: (i) if personally delivered, on the business day of such
delivery (as evidenced by the receipt of the personal delivery service), (ii) if
mailed certified or registered mail return receipt requested, two (2) business
days after being mailed, (iii) if delivered by overnight courier (with all
charges having been prepaid), on the business day of such delivery (as evidenced
by the receipt of the overnight courier service of recognized standing), or (iv)
if delivered by facsimile transmission, on the business day of such delivery if
sent by 6:00 p.m.  in the time zone of the recipient, or if sent after
that time, on the next succeeding business day (as evidenced by the printed
confirmation of delivery generated by the sending party’s telecopier
machine).  If any notice, demand, consent, request, instruction or
other communication cannot be delivered because of a changed address of which no
notice was given (in accordance with this Section 4), or the refusal to accept
same, the notice, demand, consent, request, instruction or other communication
shall be deemed received on the second business day the notice is sent (as
evidenced by a sworn affidavit of the sender).  All such notices,
demands, consents, requests, instructions and other communications will be sent
to the following addresses or facsimile numbers as applicable.

     

    If to
Escrow Agent: Sichenzia Ross Friedman Ference LLP,

    

    Sichenzia
Ross Friedman Ference LLP

    61
Broadway, 32nd Floor

    New York,
NY 10006

    Attention:  Marc
J. Ross, Esq.

    Tel.
No.:  (212) 930-9700

    Fax
No.:  (212) 930-9725

     

    If to the
Company or the Principal Shareholders:

    

    Tel.
No.:

    Fax
No.:

     

    With a
copy to:

     

    If to the
Holder Representative:

    Vision
Opportunity Master Fund, Ltd.

    20 W.
55th Street, 5th Floor

    New York,
New York 10019

    Attention:
Carl Kleidman

    Tel. No.:
(212) 849-8246

    Fax No.:
(212) 867-1416

     

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

     

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

     

    3.4.           This
Escrow Agreement is the final expression of, and contains the entire agreement
between, the parties with respect to the subject matter hereof and supersedes
all prior understandings with respect thereto. This Escrow Agreement may not be
modified, changed, supplemented or terminated, nor may any obligations hereunder
be waived, except by written instrument signed by the parties to be charged or
by its agent duly authorized in writing or as otherwise expressly permitted
herein.

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    3.5.           Whenever
required by the context of this Escrow Agreement, the singular shall include the
plural and masculine shall include the feminine. This Escrow Agreement shall not
be construed as if it had been prepared by one of the parties, but rather as if
both parties had prepared the same. Unless otherwise indicated, all references
to Articles are to this Escrow Agreement.

     

    3.6.           The
parties hereto expressly agree that this Escrow Agreement shall be governed by,
interpreted under and construed and enforced in accordance with the laws of the
State of New York, without regard to conflicts of law principles that would
result in the application of the substantive laws of another jurisdiction. Any
action to enforce, arising out of, or relating in any way to, any provisions of
this Escrow Agreement shall only be brought in a state or Federal court sitting
in New York City, Borough of Manhattan.

     

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

     

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

     

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

     

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

     

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

     

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

     

    3.13.           If
the Escrow Agent reasonably requires other or further instruments in connection
with this Escrow Agreement or obligations in respect hereto, the necessary
parties hereto shall join in furnishing such instruments.

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

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

     

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

     

    [Signature
Page Follows]

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

    [SIGNATURE
PAGE TO SECURITIES ESCROW AGREEMENT]

     

    IN
WITNESS WHEREOF, the parties hereto have executed this Agreement as of this
5th
day of April, 2010.

    
      

      
        
          	
                  SUNWAY
      GLOBAL INC.

                
	 
      	 
      
	
                  By:

                	
                  /s/ Bo Liu

                
	 
      	
                   
      Name:

                
	 
      	
                   
      Title:

                

        

      

      

      
        
          
            	
                    HOLDER
      REPRESENTATIVE:

                  
	 
      
	
                    VISION
      OPPORTUNITY MASTER FUND, LTD.

                  
	 
	
                    By:

                  	
                    /s/ Adam Benowitz

                  
	 
      	
                     
      Name: Adam Benowitz

                  
	 
      	
                     
      Title: Director

                  

          

        

      

      

      
        
          	
                  ESCROW
      AGENT:

                
	 
      
	
                  SICHENZIA
      ROSS FRIEDMAN FERENCE LLP

                
	 
      	 
      
	
                  By:

                	
                  /s/ Marc Ross

                
	 
      	
                   
      Name: Marc Ross

                
	 
      	
                   
      Title: Partner

                

        

      

      

      
        
          	
                  PRINCIPAL
      SHAREHOLDER:

                
	 
      
	
                  RISE
      ELITE INTERNATIONAL LIMITED

                
	 
      	 
      
	
                  By:

                	
                  /s/ Bo Liu

                
	 
      	
                   
      Name:

                
	 
      	
                    
      Title:

                

        

      

       

      
        
          
          

        

        
          6

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00171-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00171-of-00352.parquet"}]]