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Jinhao Motor Company: Exhibit 10.2 - Filed by newsfilecorp.com

Exhibit 10.2 

SERIES A PREFERRED STOCK AGREEMENT 

     This Agreement (this
“Agreement”) is dated as of August 11, 2010 among Jinhao Motor Company, a
Nevada corporation (the “Company”), Islamic Bank of Asia Limited
(“IBA”) and Mr. Tsoi Chak Shing, a shareholder of the Company and acting
in its personal capacity as a covenantor (the “Covenantor”). 

     WHEREAS, the parties to this
Agreement are also parties to (i) that certain Securities Purchase Agreement
(the “Securities Purchase Agreement”) for the sale and purchase of shares
of Series A Convertible Redeemable Stock of the Company dated as of August 11,
2010 and (ii) that certain Investors’ Rights Agreement to be executed as of the
closing of the financing contemplated under the Securities Purchase Agreement
(the “Investors’ Rights Agreement”; collectively with the Securities
Purchase Agreement, the “Transaction Agreements”); 

      WHEREAS, subject to the terms
and conditions set forth in the Securities Purchase Agreement, IBA has agreed to
purchase Series A Preferred Stock of the Company; 

     WHEREAS, the Certificate of
Designation, in the form of Exhibit B attached to the Securities Purchase
Agreement, to be filed with the Secretary of State of the State of Nevada, will
set forth the rights, preferences and privileges of the Series A Preferred
Stock; 

     WHEREAS, IBA has agreed,
notwithstanding the provisions of the Certificate of Designation and the
Securities Purchase Agreement, to waive certain rights, preferences and
privileges it would otherwise be entitled to thereunder and has agreed not to
seek to enforce such rights, preferences and privileges against the Company, in
each case, on the terms and subject to the conditions set forth herein; and 

     WHEREAS, the Covenantor acting in
its personal capacity covenants as set out herein for the benefit of IBA. 

AGREEMENT 

     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, the Covenantor and IBA agree as follows: 

ARTICLE 1 
DEFINITIONS 

     1.1 Definitions.
Capitalised terms used but not defined herein shall have the meanings ascribed
to such terms in the Securities Purchase Agreement, and: 

     “Covenantor” means Mr. Tsoi Chak Shing. 

     “IBA Series A Preferred Stock” is defined in Exhibit A
attached hereto. 

      “Waived Provisions” means
the rights, preferences and privileges of Series A Preferred Stock as set out in
the Certificate of Designation solely to the extent such rights, preferences and
privileges are more advantageous to the holder of Series A Preferred Stock than
the rights, preferences and privileges described in Exhibit A. 

ARTICLE 2 
AGREEMENTS WITH RESPECT TO THE WAIVED PROVISIONS

2.1 IBA Series A Preferred Stock; Certificate of
Designation. 

          (a)
Notwithstanding the provisions of the Certificate of Designation and the
Securities Purchase Agreement, IBA agrees that, with respect to itself only, the
Certificate of Designation shall be interpreted and applied by the Company in
all events as if such Certificate of Designation read as set forth in Exhibit A
hereto. 

          (b) IBA
irrevocably waives all its rights and powers under and with respect to the
Waived Provisions and agrees not to bring or commence any Action to enforce the
Waived Provisions for its benefit. 

2.2 IBA Series A Preferred Stock; Investors’ Rights
Agreement. 

          (a)
Notwithstanding the provisions of the Investors’ Rights Agreement, IBA agrees
that, with respect to itself only: 

        
  (i) Section 7(a) of the Investors’ Rights Agreement shall be
interpreted and applied by the Company, the Company Entities and the Major
Shareholder to apply only to such payment obligations owed by the Company to the
holder of IBA Preferred Stock as may apply after giving effect to the amendments
and waivers provided for in this Agreement; and 

          
(ii) Section 7(d) of the Investors’ Rights Agreement shall not apply for the
benefit of the holder of IBA Preferred Stock, but the Company shall endeavour to
achieve the After Tax Net Profit targets set forth in Section 7(d) of the
Investors’ Rights Agreement. 

ARTICLE 3 
REPRESENTATIONS AND WARRANTIES 

     3.1 Representations and
Warranties of the Company. Except as disclosed in the Disclosure Schedules
attached to the Securities Purchase Agreement as Schedule 1, the Company makes
the following representations and warranties to IBA as of the date hereof and as
of the Closing Date: 

          (a)
Organization and Qualification. The Company is duly incorporated or
otherwise organized, validly existing and in good standing under the laws of the
jurisdiction of its incorporation or organization (as applicable), with the
requisite power and authority to own and use its properties and assets and to
carry on its business as currently conducted. The Company is not in violation of
any of the provisions of its respective certificate or articles of
incorporation, bylaws or other organizational or charter documents. The Company
is duly 

qualified to conduct its respective businesses and is in good
standing as a foreign corporation or other entity in each jurisdiction in which
the nature of the business conducted or property owned by it makes such
qualification necessary, except where the failure to be so qualified or in good
standing, as the case may be, could not, individually or in the aggregate, have
or reasonably be expected to result in a Material Adverse Effect. 

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

          (c)
No Conflicts. The execution, delivery and performance of this Agreement
by the Company and the consummation by the Company of the transactions
contemplated thereby do not and will not (i) conflict with or violate any
provision of the Company’s certificate of incorporation or bylaws, or (ii)
conflict with, or constitute a default (or an event that with notice or lapse of
time or both would become a default) under, or give to others any rights of
termination, amendment, acceleration or cancellation (with or without notice,
lapse of time or both) of, any agreement, credit facility, debt or other
instrument or other understanding to which the Company is a party or by which
any property or asset of the Company is bound or affected, or (iii) result in a
violation of any Legal Requirement, rule, regulation, order, judgment,
injunction, decree or other restriction of any court or governmental authority
to which the Company or a Subsidiary is subject (including federal and state
securities laws and regulations), or by which any property or asset of the
Company is bound or affected; except in the case of each of clauses (ii) and
(iii), such as could not, individually or in the aggregate, have or reasonably
be expected to result in a Material Adverse Effect. 

     3.2 Representations and
Warranties of IBA. IBA makes the following representations and warranties to
the Company as of the date hereof and as of the Closing Date: 

          (a)
Organization; Authority. IBA is an entity duly organized, validly
existing and in good standing under the laws of the jurisdiction of its
organization with the requisite corporate or partnership power and authority to
enter into and to consummate the transactions contemplated by this Agreement and
otherwise to carry out its obligations hereunder. The execution, delivery and
performance by IBA of the transactions contemplated by this Agreement has been
duly authorized by all necessary corporate on the part of IBA. This Agreement
has been duly executed, and when delivered in accordance with the terms hereof,
will constitute the valid and legally binding obligation of IBA, enforceable
against it in accordance with its terms, except as such enforceability may be
limited by applicable bankruptcy, insolvency, reorganization, moratorium, liquidation or similar
laws relating to, or affecting generally the enforcement of, creditors’ rights
and remedies or by other equitable principles of general application. 

     3.3 Representations and
Warranties of the Covenantor. The Covenantor makes the following
representations and warranties to IBA as of the date hereof and as of the
Closing Date: 

          (a)
Capacity and Qualification. The Covenantor is a natural person with the
requisite power and authority to own and use his properties and assets. 

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

          (c)
No Conflicts. The execution, delivery and performance of this Agreement
by the Covenantor and the consummation by the Covenantor of the transactions
contemplated thereby do not and will not (i) conflict with, or constitute a
default (or an event that with notice or lapse of time or both would become a
default) under, or give to others any rights of termination, amendment,
acceleration or cancellation (with or without notice, lapse of time or both) of,
any agreement, credit facility, debt or other instrument or other understanding
to which the Covenantor is a party or by which any property or asset of the
Covenantor is bound or affected, or (ii) result in a violation of any Legal
Requirement, rule, regulation, order, judgment, injunction, decree or other
restriction of any court or governmental authority to which the Covenantor or a
Subsidiary is subject (including federal and state securities laws and
regulations), or by which any property or asset of the Covenantor is bound or
affected; except such as could not, individually or in the aggregate, have or
reasonably be expected to result in a Material Adverse Effect. 

ARTICLE 4 
OTHER AGREEMENTS OF THE PARTIES 

     4.1 Covenant. Subject to
Section 7(a) of the Investors’ Rights Agreement, the Covenantor acting in his
personal capacity and not as a shareholder of the Company shall ensure the
timely payment to IBA by the Company of all dividends, redemption price and all
other amounts payable under the Investors’ Rights Agreement in respect of the
IBA Preferred Stock (in each case, as the terms of such IBA Preferred Stock and
the Investors' Rights Agreement are amended by this Agreement), and further undertakes that in the
event of any failure by the Company to make any of the above payments to IBA in
breach of its contractual obligations, he will in his personal capacity promptly
make such payments in full to IBA. For the avoidance of doubt, the intention of
this Section is not to create rights which are superior to those of other Series
A Stockholders of the Company or to expand the Covernantor’s obligations under
the Transaction Agreements. 

     4.2 Declaration. The
Company declares and agrees that with respect to distributions to holders of IBA
Preferred Stock, it will act as if the Certificate of Designation for Series A
Preferred Stock had been amended to read as set forth in Exhibit A. 

ARTICLE 5 
MISCELLANEOUS 

     5.1 Entire Agreement. This
Agreement (including Exhibit A) hereto contain the entire understanding of the
parties with respect to the subject matter hereof and except for the Securities
Purchase Agreement and the Investors’ Rights Agreement, supersede all prior
agreements, understandings, discussions and representations, oral or written,
with respect to such matters, which the parties acknowledge have been merged
into such documents, exhibits and schedules. 

     5.2 Amendments; Waivers; No
Additional Consideration. No provision of this Agreement may be waived or
amended except in a written instrument signed by the parties hereto. No waiver
of any default with respect to any provision, condition or requirement of this
Agreement shall be deemed to be a continuing waiver in the future or a waiver of
any subsequent default or a waiver of any other provision, condition or
requirement hereof, nor shall any delay or omission of either party to exercise
any right hereunder in any manner impair the exercise of any such right. 

     5.3 Construction;
Interpretation. The headings herein are for convenience only, do not
constitute a part of this Agreement and shall not be deemed to limit or affect
any of the provisions hereof. The language used in this Agreement will be deemed
to be the language chosen by the parties to express their mutual intent, and no
rules of strict construction will be applied against any party. The words
“including,” “include” and other words of similar import shall be deemed to be
followed by the words “without limitation.” 

     5.4 Successors and
Assigns. This Agreement shall be binding upon and inure to the benefit of
the Company, the Covenantor and their successors. The Company and the Covenantor
may not assign this Agreement or any rights or obligations hereunder without the
prior written consent of the IBA. IBA may assign any or all of its rights under
this Agreement to any Person to whom IBA assigns or transfers any Securities and
who agrees to be bound hereby. 

     5.5 Third-Party
Beneficiaries. This Agreement is intended for the benefit of, and may be
enforced by, the parties hereto and their respective successors and permitted
assigns and, in respect of section 2.2, by all parties to the Investors’ Rights
Agreement and is not for the benefit of, nor may any provision hereof be
enforced by, any other Person. 

     5.6 Governing Law. All
questions concerning the construction, validity, enforcement and interpretation
of this Agreement 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. Any dispute, controversy or claim
arising out of or relating to this Agreement or the transactions contemplated
hereof, or the breach, termination or invalidity thereof, shall be settled by
arbitration in Hong Kong under the UNCITRAL Arbitration Rules in accordance with
the Hong Kong International Arbitration Centre Procedures for the Administration
of International Arbitration in force at the date hereof. The place of the
arbitration shall be Hong Kong and the language of the arbitration shall be
English. There shall be only one arbitrator. 

     5.7 Execution. This
Agreement may be executed in two or more counterparts, all of which when taken
together shall be considered one and the same agreement and shall become
effective when counterparts have been signed by each party and delivered to the
other party, it being understood that both parties need not sign the same
counterpart. In the event that any signature is delivered by facsimile
transmission, such signature shall create a valid and binding obligation of the
party executing (or on whose behalf such signature is executed) with the same
force and effect as if such facsimile signature page were an original thereof.

     5.8 Severability. If any
provision of this Agreement is held to be invalid or unenforceable in any
respect, the validity and enforceability of the remaining terms and provisions
of this Agreement shall not in any way be affected or impaired thereby. 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK -- SIGNATURE PAGES
FOLLOW] 

Exhibit 10.2 

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

	 	JINHAO MOTOR COMPANY 
	 	 
	 	By: /s/ Tsoi Chak Shing
	 	Name: Tsoi Chak Shing 
	 	Title: Director 
	 	 
	 	ISLAMIC BANK OF ASIA LIMITED
  
	 	 
	 	By: /s/ Tan Jeh Wuan 
	 	Name: Tan Jeh Wuan 
	 	Title: Managing Director 
	 	 
	 	Mr. Tsoi Chak Shing 
	 	By: /s/ Tsoi Chak
  Shingmti_10q3.htm

    Exhibit 10.168 

     

    SEVENTH AMENDMENT TO LEASE

     

         This agreement is made as of this
day     of July, 2010 by and between Kingfisher, LLC,
(hereinafter the “Landlord”), and MTI MicroFuel Cells Inc., (hereinafter the
“Tenant”, as assignee of Mechanical Technology Incorporated (hereinafter the
“Assignor”)).

     

    PRELIMINARY
STATEMENT 

     

         The Landlord and Assignor entered
into a lease (The “Lease”) dated April 2, 2001, and amended by First Amendment
to Lease dated March 13, 2005, Second Amendment to Lease dated December 12,
2005, Third Amendment to Lease dated August 7, 2006, Fourth Amendment to Lease
dated August 6, 2007, Fifth Amendment to Lease dated March 31, 2009 and Sixth
Amendment to Lease, which was executed by Landlord, Assignor and Tenant, dated
January 1, 2010 (hereinafter the “Lease and Amendments”) for certain Premises at
431 New Karner Road, Albany, New York, consisting of 20,000 Net Usable Square
Feet. Tenant desires to extend the current lease term for an additional 6
months.

     

         Accordingly, the parties agree to
amend and modify the Lease and Amendments as hereinafter set forth:

     

    
      	       	1.	       	The current Lease Term shall be extended
      to expire February 28, 2011.
	
            	 
	
            	2.	
            	The Base Rent through February 28, 2011
      shall be $10.50 per Net Useable Square
Feet.

    

     

    Except as modified
herby, all terms and conditions of the Lease and Amendments are hereby ratified
and confirmed by the parties hereto. 

     

         IN WITNESS WHEREOF
Landlord and Tenant have signed and sealed this Modification to Lease as of the
day and year first above written. 

     

    
      	Landlord:
	KINGFISHER, LLC
	 	 
	By: Edward L. Hoe, Jr., Member
      Manager
	 
	Tenant:
	MTI MICROFUEL CELLS
  INC.
	 	 
	By: Peng K. Lim, Chief Executive
      Officer

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