Document:

Unassociated Document

    Exhibit
10.8

       

      Patent
Rights Transfer Agreement

       

      Transferor:
Liu Jianfeng

       

      Transferee:
Illigate Textile (Zhejiang) Co., Ltd.

       

      Transferor
agrees to transfer the decorative cloth patent rights (patent No.:
ZL200630105432.5, ZL200630105433.X, ZL200630105434.4, ZL200630105435.9,
ZL200630105436.3, ZL200920116292.X, patent application No.: 200920116291.5)
owned by it to the transferee.

       

      Through
consultation, the above two parties make this agreement of their own
will.

       

      Article I
Delivery of Material by the Transferor to the Transferee

       

      1.  All
patent application documents delivered to the Patent Office of China, including
description, right claiming letter, attached plan, summary and the attached plan
to the summary, application letter, opinion statement as well as the alteration
of matter, approving decision of resuming right after the loss of right, letter
of attorney etc.

       

      2.  All
documents issued by the Patent Office of China to the transferor, including
acceptance notice, intermediate documents, authorizing decision, patent
certificate and its copy etc.

       

      3.  Agreement
to others for licensing the implementation of patent of the transferor,
including the annexes of the agreement (i.e. technical, craftsmanship documents
etc. related with implementation of the patent).

       

      4.  Certificate
issued by the Patent Office of China with regard to the effectiveness of the
patent rights, including the latest patent annuity payment certificate(or the
registration book of the Patent Office), the decision of the Patent Office of
China or the Patent Reexamination Board or the People’s Court during the
cancellation or invalidity application process etc.

      
        
           

        

        
           

          
            

          

        

        
           

        

      

       

      5.  Transfer
approval document of the upper level competent department or relevant competent
department of the State Council.

       

      Article
II Time, Venue and Manner of Delivering the Material

       

      1.  Delivery
time of the material

       

      Upon the
coming into effect of the agreement, the transferor shall deliver to the
transferee all the material prescribed in Article I herein.

       

      
        	
                2.

              	
                Delivery
      venue and manner of the material

              

      

       

      The
transferor shall deliver all the above material to the transferee by personnel
delivery.

       

      The
delivery venue of all the material shall be the address of the
transferee.

       

      Article
III Patent Implementation and Licensing of Patent Implementation and Disposal
Method

       

      The
transferee shall have the full use and disposal rights to the above patent
rights obtained in according to this agreement, including the right of
permitting others to use. The transferee’s exercising of owner’s right, use
right, disposal right or the right of permitting others to use shall not be
interfered by the transferor.

       

      In case
of the transferor having already implemented the above patents before the
signing of this agreement, upon the coming into effect of this agreement, the
transferor shall immediately stop the implementation of the
patents.

       

      In case
of the transferor having licensed others to implement the patents by agreement
before the signing of this agreement, its right and responsibility relationship
shall transfer to the transferee from the effective date of this
agreement.

       

      Article
IV Fee of the Transfer

       

      The
patent right price involved herein is one million eighty three thousand and five
hundred RMB yuan (RMB1,830,500). As the controlling shareholder, Liu Jianfeng
agrees to directly invest the above patents into Illigate Textile (Zhejiang)
Co., Ltd. as capital increase to Illigate Textile (Zhejiang) Co., Ltd. and shall
not charge any other fees.

      
        
           

        

        
           

          
            

          

        

        
           

        

      

       

      Article V
the Handling after the Patent Rights Being Revoked or Pronounced
Invalid

       

      In case
of others’ applying to the Patent Office for revocation of the patent rights, or
requesting the Patent Reexamination Board to pronounce the invalidity of the
patent rights, or bring a suit to the People’s Court in disapproving the
decision of the Patent Reexamination Board (to invention patent), after the
establishment of this agreement, the transferee shall be responsible to defend
and bear the request and litigation costs thus occurred.

       

      Article
VI Provision for the Transition Period

       

      1.  From
the signing and coming into effect of this agreement to the date of registration
and announcement by the Patent Office, the transferor shall maintain the
effectiveness of the patents.

       

      2.  After
the registration and announcement by the Patent Office, the transferor shall be
responsible for maintaining the effectiveness of the patent, such as handling
the patent annuity, extension fee, defense against administrative cancellation
and invalidity requests and answering the invalidity litigation
etc.

       

      3.  During
the transition period, in the event of force majeure resulted in the transferor
or the transferee not being able to perform the agreement, the agreement shall
be cancelled.

       

      Article
VII Taxes and Fees

       

      The taxes
and fees involved in the agreement shall be paid by the transferee.

       

      Article
VIII Dispute Resolution

       

      1.  In
case of dispute during the performance of the agreement, is shall be resolved by
the parties through friendly consultation according the provisions
herein.

      
        
           

        

        
           

          
            

          

        

        
           

        

      

       

      2.  In
case the dispute cannot be resolved through consultation, it shall be submitted
to the transferee’s local patent administrative authority for mediation and
disposal. In case of disapproving the result of the mediation and disposal,
either party can bring the case to the transferee’s local People’s
Court.

       

      Article
IX Miscellaneous

       

      The
detailed list and contents of the above patents is attached hereafter as
attached sheet.

       

      The
technical and legal matters not agreed herein shall be resolved by the two
parties through consultation.

       

      X  Effectiveness
of the Agreement

       

      This
agreement shall come into effect after being signed by the two
parties.

       

      
        
          
            
              	
                      Transferor:
      Liu Jianfeng

                    	
                      Transferee:
      Illigate Textile (Zhejiang) Co., Ltd.

                    
	 	 
	
                      (signature):
      Liu Jianfeng

                    	
                      (signature
      and seal):

                    
	 	 
	 
      	
                      Legal
      representative: Liu Jianfeng

                    
	 	 
	
                      March
      9, 2010

                    	
                      March
      9, 2010Unassociated Document

    Exhibit
10.9

       

       

      EQUITY
TRANSFER AGREEMENT OF

       

      ILLIGATE
TEXTILE (ZHE JIANG) CO., LTD

       

      BETWEEN

       

      ILLIGATE
DEVELOPMENT LIMITED

       

      AND

       

      LIZHAN
RESOURCES RECYCLING TECHNOLOGY

       

      DEVELOPMENT
CO., LTD.

       

      September
15, 2009

      
        
           

        

        
           

          
            

          

        

        
           

        

      

       

      Contents

       

        	
                Preface

              	 	 	3
	 
      	 	 	 
	
                Article I Sales and Purchase

              	 	 	3
	 
      	 	 	 
	
                Article II Purchase Price and its
      Payment

              	 	 	4
	 
      	 	 	 
	
                Article III Representation and
      Warranty

              	 	 	4
	 
      	 	 	 
	
                Article IV Conditions for Effectiveness and
      Closing

              	 	 	6
	 
      	 	 	 
	
                Article V Further Agreement

              	 	 	6
	 
      	 	 	 
	
                Article VI Liabilities for Breach of
      Contract

              	 	 	7
	 
      	 	 	 
	
                Article VII
      Other Matters

              	 	 	7

      

       

      
        
           

        

        
          2

          
            

          

        

        
           

        

      

       

      Equity Transfer
Agreement

       

      This
equity transfer agreement (“the agreement”) is made on September 15, 2009 by the
following parties:

       

      Transferor:
ILLIGATE DEVELOPMENT LIMITED, a company established and existing according to
the law of British Virgin Islands with its registered address at the British
Virgin Islands and its chairman of board as Liu Jianfeng.

       

      Transferee:
LIZHAN RESOURCES RECYCLING TECHNOLOGY DEVELOPMENT CO., LTD., a company
established and existing according to the law of Hong Kong with its registered
address at room 501, 5th floor, 113 Argyle Street, Mong Kok, Kowloon, Hong Kong
and its chairman of board as Liu Jianfeng.

       

      For the
purpose of the agreement, the transferor and the transferee shall be referred to
collectively as “both parties” and unilaterally as “one party”.

       

      Preface

       

      Whereas
Illigate Textile (Zhejiang) Co., Ltd. (“the company” ) is a Wholly Foreign-owned
enterprise established solely by the transferor and validly existing according
to the law of China with a total investment amount of US$ 5,277,400 and a
registered capital of US$3,580,000 and its registered address at 716 Qifu Road,
Wutong Street, Tongxiang City, Zhejiang and its legal representative as Liu
Jianfeng; the transferor is the equity holder of the company, holding 100% of
the equity of the company(“the equity transferred”) .

       

      Therefore,
subject to the mutual covenants, representations and warranties contained
herein, both parties agree as follows:

       

      Article
I Sales and Purchase

       

      
        	
                1.1

              	
                transfer and purchase
      of the equity of the
transferor

              

      

       

      According
to the provisions herein and subject to the conditions herein, the transferor
shall transfer to the transferee and the transferee shall purchase from the
transferor and obtain all the rights and interests of the transferor to the
equity transferred. Such rights and interests do not contain any pledge or other
security interest, claim or other third party interest.

      
        
           

        

        
          3

          
            

          

        

        
           

        

      

       

      
        	
                1.2

              	
                the ratio of the
      equity transferred to the
transferee

              

      

       

      The
transferee shall purchase and obtain all equity transferred, i.e. 100% of the
company’s registered capital and equity holder’s related interests. After the
completion of equity transfer under the agreement, the transferee shall become
the only equity holder of the company.

       

      Article
II Purchase Price and its Payment

       

      
        	
                2.1

              	
                purchase
      price

              

      

       

      The total
investment amount of the company is US$ 5,277,400 and the registered capital is
US$3,580,000. As at the signing date of this agreement, all the US$3,580,000
registered capital has been paid up.

       

      The
reference date of the equity transfer under the agreement shall be September 15,
2009. The transferee shall pay the transferor the transfer price at the ratio of
1:1 to the registered capital, namely US$3,580,000 as consideration for the
transfer.

       

      
        	
                2.2

              	
                payment of purchase
      price

              

      

       

      The
agreement shall become effective after being approved by the approving
authority. The transferee shall pay all the purchase price of the equity to the
bank account designated by the transferor within the closing period (as defined
is Article IV). The closing venue shall be Hong Kong and the closing currency
shall be US dollars.

       

      
        	
                2.3

              	
                taxes

              

      

       

      Both
parties shall bear any taxes which shall be borne by them resulted from the
signing of the agreement and the equity transfer herein according to applicable
law.

       

      Article
III Representation and Warranty

       

      
        	
                3.1

              	
                representation and
      warranty of the transferee

              

      

       

      The
transferee hereby represents and warrants to the transferor as
follows:

       

      (1) legal
status and capability of the transferee: the transferee is a company properly
established and validly existing according to the law of its registered place.
It has the independent qualification of legal person and has the full and
independent legal status and legal capability to execute, deliver and perform
the agreement and can independently act as one party to
litigation.

      
        
           

        

        
          4

          
            

          

        

        
           

        

      

       

      (2)
authorization and approval: the transferee has its company’s full internal power
and authorization to execute and deliver the agreement and all documents related
with the transaction herein and to be executed by it. The transferee has the
full power and authorization to carry out the transaction described herein. The
agreement is executed and delivered by the transferee in a lawful and proper
manner. The agreement shall constitute a lawful and binding obligation to the
transferee; all relevant documents related with the transaction herein and to be
executed by it shall become effective after being signed by it and shall
constitute its lawful and binding obligation which can be enforced against it
according to the provisions.

       

      (3)
performance capability: as far as the transferee possibly know, as at signing of
the agreement, the transferee does not involve in any insolvency, bankruptcy,
termination and other major legal suit, litigation or other event or
circumstances which may cause serious adverse effect to the transferee, the
transaction herein or the capability of the transferee to perform the
obligations under the agreement (including but not limited to the payment of the
purchase price).

       

      (4)
rights and obligations under the articles of association of the company: for the
rights and obligations of the transferee under the articles of association of
the company, see the articles of association of the company.

       

      3.2 representation and warranty
of the transferor:

       

      The
transferor hereby represents and warrants to the transferee as
follows:

       

      (1) legal
status and capability of the transferor: the transferor is a company properly
established and validly existing according to the law of its registered place.
It has the independent qualification of legal person and has the full and
independent legal status and legal capability to execute, deliver and perform
the agreement and can independently act as one party to litigation.

       

      (2)
authorization and approval: the transferor has its company’s full internal power
and authorization to execute and deliver the agreement and all documents related
with the transaction herein and to be executed by it. The transferor has the
full power and authorization to carry out the transaction described herein. The
agreement is executed and delivered by the transferor in a lawful and proper
manner. The agreement shall constitute a lawful and binding obligation to the
transferor; all relevant documents related with the transaction herein and to be
executed by it shall become effective after being signed by it and shall
constitute its lawful and binding obligation which can be enforced against it
according to the provisions.

       

      (3)
performance capability: as far as the transferor possibly know, as at signing of
the agreement, the transferor does not involve in any insolvency, bankruptcy,
termination and other major legal suit, litigation or other event or
circumstances which may cause serious adverse effect to the transferor, the
transaction herein or the capability of the transferor to perform the
obligations under the agreement.

      
        
           

        

        
          5

          
            

          

        

        
           

        

      

       

      (4)
ownership to the equity transferred: the transferor is the registered and true
owner of the equity transferred, and there does not exist any pledge or other
security interests, claim, attachment, freezing or other third party interest on
the equity transferred. The transferee can obtain a good ownership of the equity
transferred without any pledge or other security interests, claim or other third
party interest.

       

      Article
IV Conditions for Effectiveness and Closing

       

      4.1 preconditions for coming
into effect of the equity transfer

       

      Both
parties agree that unless otherwise being waived in writing by both parties
(within the limit permitted by law), the agreement and the equity transfer
herein shall become effective upon all the following conditions having been met
and completed:

       

      (a) the
agreement has been executed and delivered by duly authorized representatives of
both parties;

       

      (b) the
board of directors of the company has passed proper resolution according the
company’ s articles of association, approving the agreement and the transaction
described herein; and

       

      (c) the
original approving authority of the company has approved the agreement, the
transaction described herein and the amended articles of association of the
company and has issued the certificate of approval.

       

      4.2 closing

       

      Subject
to the equity transfer becoming effective according to Article 4.1, the closing
period of the equity transfer under the agreement (“the closing period”) shall
be completed within 6 months of the change of the company’s business license.
Before the expiry of the closing period, the transferor shall deliver the
following documents to the transferee: (i) the capital investment certificate
signed by the legal representative of the company; (ii) the equity holders’ book
registering the transferee as the only equity holder of the
company.

       

      Article
V Further Agreement

       

      5.1 further
commitment

       

      Each
party shall further execute reasonably required documents and take reasonably
required actions so as to ensure the effective completion of the equity transfer
under the agreement.

      
        
           

        

        
          6

          
            

          

        

        
           

        

      

       

      5.2 the board resolution of the
company

       

      The
transferor agrees and warrants that it shall cause the company’s director
assigned by it to approve the agreement and the transaction herein according to
the requirements of Article 4.1(b) in proper manner as soon as
possible.

       

      5.3 delivering of
approval

       

      The
transferor agrees and warrants that it shall cause the company to apply to the
original approving authority and obtain the approval document of the agreement
and the transaction herein as soon as possible after the signing and delivery of
the agreement. Both parties shall provide reasonable assistance and
collaboration; after the agreement and the transaction herein being approved by
the original approving authority of the company, both parties shall continue to
provide reasonable assistance and collaboration to the company so as to ensure
the company’s handling change of industrial and commercial registration as soon
as possible with the original registration authority of the
company.

       

      5.4 creditors’ rights and
liabilities

       

      From the
effective date, the creditors’ rights and liabilities of the company shall be
enjoyed and borne by the transferee according to applicable law.

       

      Article
VI Liabilities for Breach of Contract

       

      If one
party’s any representation and warranty made under the agreement being untrue or
inaccurate or any party in violation of, not performing or delay in performing
any obligations under the agreement, it shall be deemed as breach of contract.
The non-breaching party may give a written notice to the breaching party,
requesting the breaching party to adopt remedial measures within thirty (30)
days of receiving the written notice in a timely manner. If any loss occurs to
the non-breaching party due to the breaching party’s breach, the breaching party
shall make reasonable and full compensation and remedies to the breaching
party.

       

      Article
VII Other Matters

       

      7.1 relative
independence

       

      Each
article of the agreement is separable and independent to any other article. In
the event that one or several articles of the agreement become invalid, illegal
or cannot be carried out, the validity, legality and execution of the other
articles of the agreement shall not be thus affected.

      
        
           

        

        
          7

          
            

          

        

        
           

        

      

       

      7.2 interested
parties

       

      Unless
otherwise agreed herein, the agreement shall be binding to each party (including
its lawful successors); furthermore, unless otherwise agreed herein, the
agreement does not intend (either explicitly or implicitly) to create any right
or obligation under the agreement for any other person.

       

      7.3 the transfer of right or
obligation

       

      Without
the prior written approval of the other party, any party shall not transfer any
right and/or obligation under the agreement to any third party.

       

      7.4 notice

       

      All the
notices and other communications under this agreement shall be made in written
form and shall be deemed delivered at the earlier of: (i) if delivered in
person, upon the delivery; (ii) if by mail(registered mail, prepaid), upon being
received; (iii) if by a recognized express company, the second business day
after being sent; or (iv) if by telex or facsimile (both parties shall set the
general means of communication of this type to ensure the acceptance by the
other party), upon being sent.

       

      7.5 applicable law and dispute
resolution

       

      The
making, becoming effective, performance, amendment, explanation and termination
of the agreement shall be governed by the law of Hong Kong Special
Administrative Region. In case of dispute, both parties shall resolve it through
consultation. In case it cannot be resolved by consultation, either party can
bring an action.

       

      7.6 the cancellation and
termination of the agreement

       

      The
agreement may be cancelled or terminated in advance after consultation and
agreement of both parties.

       

      7.7 text

       

      The
agreement shall be made in four (4) copies, one (1) copy to each party. The
other two copies shall be delivered to relevant government authorities to handle
the approval and registration change of the equity change under the agreement.
For the above purpose, both parties can accordingly add to the executed original
copy if necessary.

       

      
        
           

        

        
          8

          
            

          

        

        
           

        

      

       

      
        For and
on behalf of

         

        The
transferor: ILLIGATE DEVELOPMENT LIMITED

      

       

      (Seal)

       

      Date:
September 15, 2009

       

      For and
on behalf of

       

      The
transferee: LIZHAN RESOURCES RECYCLING TECHNOLOGY DEVELOPMENT CO.,
LTD.

       

      (Seal)

       

      Date:
September 15, 2009

       

      
        
           

        

        
          9

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