Document:

Exhibit
      10.1

    CHINA
      TRANSINFO TECHNOLOGY CORP.

    

    NOTICE
      OF STOCK OPTION GRANT

    

    

    
      	Name: Zhihai
              Mao 	 	Address:	1-2-801, No. 134 Shi-fo-ying Dongli,

              Chaoyang
                District, Beijing, China

              100025

            

    

     

     

    You
      have
      been granted an option (the “Option”)
      to
      purchase common stock (“Shares”)
      of
China
      TransInfo Technology Corp.
      (the
“Company”),
      subject to the terms and conditions of the attached Stock Option Agreement,
      as
      follows:

     

     

    
      	Date of Grant:	
               January
                7, 2008 

            	 	 
	 	 	 	 
	Vesting Commencement Date: 	
               January
                7, 2008  

            	 	 
	 	 	 	 
	Exercise Price per Share:	
                $6.70 

            	 	 
	 	 	 	 
	Total Number of Shares Granted:	
                200,000

            	 	 
	 	 	 	 
	Total Exercise Price:	
                 $1,340,000
                

            	 	 
	 	 	 	 
	Type of Option:	
              Non-Qualified
                Stock Option

            	  	 
	 	 	 	 
	Expiration Date:	
              January
                7, 2018 

            	 	 
	 	 	 	 

    

     

    Vesting
      Schedule:

    

    The
      Option shall vest in equal installments on a quarterly basis over a three-year
      period beginning on the Date of Grant.

    

    Termination
      Period:

    

    To
      the extent vested, this Option shall be exercisable for three (3) months after
      the Termination Date, unless (i) termination is due to Optionee’s death or
      Disability, in which case this Option shall be exercisable for twelve (12)
      months after the Termination Date or (ii) the Optionee is Terminated for Cause,
      in which case this Option will terminate. In no event will this Option be
      exercised later than the Expiration Date provided above. 

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    CHINA
      TRANSINFO TECHNOLOGY CORP.

     

    STOCK
      OPTION AGREEMENT

     

    This
      STOCK
      OPTION AGREEMENT (this
      “Agreement”),
      dated as of the 7th
      day of January, 2008 is made by and between China TransInfo Technology Corp.,
      a
      Nevada corporation (the “Company”),
      and Zhihai
      Mao
      (the “Optionee”).

    

    BACKGROUND

    

    The
      Company, acting through its Board of Directors (the “Board”),
      approved the grant to the Optionee, effective as of the date set forth above,
      of
      a stock option (the “Option”)
      to purchase shares of the common stock,
      par value $.001 per share (the “Shares”),
      of
      the Company at the price (the “Exercise
      Price”)
      set forth in the attached Notice of Stock Option Grant (which is expressly
      incorporated herein and made a part hereof, the “Notice
      of Grant”),
      upon the terms and conditions hereinafter set forth.

     

    NOW,
      THEREFORE,
      in consideration of the mutual promises and undertakings hereinafter set forth,
      the parties hereto agree as follows:

     

    1.  Grant
      of Option.
      On behalf of the Company, the Board hereby grants to the Optionee an Option
      to
      purchase, subject to the terms and conditions of this Agreement, that number
      of
      Shares of the Company set forth in the Notice of Grant (the “Optioned
      Shares”),
      at an exercise price per share equal to the Exercise Price set forth in the
      Notice of Grant, subject to the terms and conditions of this Agreement. The
      Option is intended to be a Non-Qualified Stock Option, meaning that it is not
      qualified as an “Incentive Stock Option” as described in Section 422 of the
      Internal Revenue Code of 1986, as amended.

     

    2.  Term. The
      term of the Option shall commence on the date of this Agreement and shall expire
      on the Expiration Date set forth in the Notice of Grant unless such Option
      shall
      theretofore have been terminated in accordance with the terms of the Notice
      of
      Grant or this Agreement.

     

    3.  Time
      of Exercise. Unless
      accelerated in the discretion of the Board, the Option shall become exercisable
      during its term in accordance with the Vesting Schedule set forth in the Notice
      of Grant. Subject to the provisions of Section 4 hereof, shares as to which
      the
      Option becomes exercisable may be purchased at any time prior to the expiration
      or termination of the Option.

     

    4.  Termination
      of Option.

     

    (a)  For
      purposes of this Section 4 and the Notice of Grant, capitalized terms shall
      have
      the following meanings:

     

    (i)  “Affiliate”
      means any entity or person that directly, or indirectly through one or more
      intermediaries, controls, is controlled by, or is under common control with,
      another entity, where “control” (including the terms “controlled by” and “under
      common control with”) means the possession, directly or indirectly, of the power
      to cause the direction of the management and policies of the entity, whether
      through the ownership of voting securities, by contract or
      otherwise.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    (ii)  “Cause”
      means (i) the conviction of the Optionee of a crime involving a sentence of
      incarceration or of a felony with or without a sentence of incarceration; (ii)
      the commission of an act by the Optionee constituting fraud, embezzlement or
      other material financial dishonesty against the Company, or of an act of moral
      turpitude which in the opinion of counsel to the Company would constitute a
      crime under the laws of the United States or China (or any of their state or
      local laws) and which, in case of any of the foregoing, in the good faith
      judgment of the Company, is likely to cause harm to the business of the Company,
      taken as a whole; (iii) the repeated refusal or failure by the Optionee to
      use
      his reasonable and diligent efforts to follow the lawful and reasonable
      directives of the Chief Executive Officer or Board with respect to a matter
      or
      matters within the control of the Optionee; (iv) the Optionee’s willful or gross
      neglect in carrying out his material duties and responsibilities under any
      employment agreement with the Company; or (v) a material breach by the Optionee
      of any provision of any employment agreement with the Company.

     

    (iii)  “Disability”
      shall have the meaning provided in the Optionee’s employment agreement. If
“Disability” is not defined therein, “Disability” means the inability of the
      Optionee to perform the duties of his position or any substantially similar
      employment position by reason of a physical or mental disability or infirmity
      for a continuous period of six months, as determined by the Board. The date
      of
      such Disability shall be the last day of such six-month period or the date
      on
      which the Optionee submits such medical evidence, satisfactory to the Company,
      that the Optionee has a physical or mental disability or infirmity that will
      likely prevent the Optionee from performing the Optionee’s work duties for a
      continuous period of six months or longer, as the case may be. 

     

    (iv)  “Parent”
      means any corporation (other than the Company) in an unbroken chain of
      corporations ending with the Company, if each of the corporations in the chain
      (other than the Company) owns stock possessing 50% or more of the combined
      voting power of all classes of stock in one of the other corporations in the
      chain.

     

    (v)  “Subsidiary”
      means any corporation (other than the Company) in an unbroken chain of
      corporations beginning with the Company, if each of the corporations (other
      than
      the last corporation) in the unbroken chain owns stock possessing 50% or more
      of
      the total combined voting power of all classes of stock in one of the other
      corporations in the chain.

     

    (vi)  “Termination”
      or “Terminated” means that the Optionee has for any reason ceased to provide
      services as an employee, officer, director, Optionee, independent contractor,
      or
      advisor to the Company or any Parent, Subsidiary or Affiliate of the Company.
      The Optionee will not be deemed to have ceased to provide services in the case
      of (i) sick leave, (ii) military leave, or (iii) any other leave of absence
      approved by the Board, provided,
      that
      such leave is for a period of not more than three months, unless reemployment
      or
      reinstatement upon the expiration of such leave is provided by contract or
      statute. In the case the Optionee is on an approved leave of absence, the Board
      may suspend vesting of the Option while the Optionee is on leave from the
      Company or any Parent, Subsidiary or Affiliate of the Company as the Board
      may
      deem appropriate. The Board will have sole discretion to determine whether
      the
      Optionee has ceased to provide services and the applicable Termination
      Date.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    (vii)  “Termination
      Date” means the effective date of Termination, as determined by the
      Board.

     

    (b)  If
      the
      Optionee is Terminated for any reason except death or Disability, then the
      Optionee may exercise the Option (i) only to the extent that the Option would
      have been exercisable on the Termination Date and (ii) no later than three
      months after the Termination Date, but in any event, no later than the
      Expiration Date.

     

    (c)  If
      the
      Optionee is Terminated because of the Optionee’s death or Disability (or the
      Optionee dies within three months after a Termination other than for Cause
      or
      because of Optionee’s Disability), then the Option (i) may be exercised only to
      the extent that such Option would have been exercisable by the Optionee on
      the
      Termination Date and (ii) must be exercised by the Optionee (or the Optionee’s
      legal representative or authorized assignee) no later than twelve months after
      the Termination Date, but in any event no later than the Expiration
      Date.

     

    (d)  Notwithstanding
      the provisions in paragraphs 4(b) and 4(c), if the Optionee is Terminated for
      Cause, neither the Optionee, the Optionee’s estate nor such other person who may
      then hold the Option shall be entitled to exercise the Option whatsoever,
      whether or not, after the Termination Date, the Optionee may receive payment
      from the Company or any Parent, Subsidiary or Affiliate of the Company for
      vacation pay, for services rendered prior to the Termination Date, for services
      rendered for the day on which Termination occurs, for salary in lieu of notice,
      for severance or for any other benefits; provided,
      however,
      that the
      Board shall give the Optionee an opportunity to present to the Board evidence
      on
      the Optionees’s behalf that the provisions of this paragraph 4(d) should not
      apply and, in the alternative, paragraph 4(b) or 4(c) shall apply; provided,
      further, however,
      that,
      for the purpose of this paragraph 4(d), Termination shall be deemed to occur
      on
      the date when the Company dispatches notice or advice to the Optionee that
      the
      Optionee is Terminated.

     

    5.  Method
      of Exercise.
      This Option shall be exercisable by delivery of an exercise notice in the form
      attached as Exhibit A (the “Exercise Notice”) or in a manner and pursuant to
      procedures as the Board may determine, which shall state the election to
      exercise the Option, the number of Shares for which the Option is being
      exercised, and other representations and agreements as may be required by the
      Company. The Exercise Notice shall be accompanied by payment of the aggregate
      Exercise Price as to all Shares being acquired, together with any applicable
      tax
      withholding. This Option shall be deemed to be exercised upon receipt by the
      Company of a fully executed Exercise Notice accompanied by the aggregate
      Exercise Price, together with any applicable tax withholding. 

     

    6.  Method
      of Payment.
      Payment
      of the aggregate Exercise Price shall be by any of the following, or a
      combination thereof, at the election of the Optionee: 

     

    (a)  cash;
      

     

    (b)  check;

     

    (c)  to
      the
      extent not prohibited by Section 402 of the Sarbanes-Oxley Act of 2002, a
      promissory note;

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    (d)  to
      the
      extent not prohibited by Section 402 of the Sarbanes-Oxley Act of 2002,
      surrender of other Shares which have a Fair Market Value on the date of
      surrender equal to the aggregate Exercise Price of the Shares being acquired;
      

     

    (e)  by
      asking
      the Company to withhold Shares from the total Shares to be delivered upon
      exercise equal to the number of Shares having a value equal to the aggregate
      Exercise Price of the Shares being acquired;

     

    (f)  in
      accordance with any broker-assisted cashless exercise procedures approved by
      the
      Company and as in effect from time to time.

     

    (g)  any
      combination of the foregoing methods of payment; or

     

    (h)  other
      consideration and method of payment for the issuance of Shares to the extent
      permitted by applicable laws.

     

    7.  Withholding
      Taxes.
      Optionee agrees to arrange for the satisfaction of all federal, state, local
      and
      foreign income and employment tax withholding requirements applicable to the
      Option exercise. Optionee acknowledges and agrees that the Company may refuse
      to
      honor the exercise and refuse to deliver the Shares if withholding amounts
      are
      not delivered at the time of exercise.

     

    8.  Legal
      Compliance.
      Optionee may not exercise the Option unless the exercise of the Option and
      the
      issuance of the Optioned Shares comply with applicable law. The Company shall
      be
      relieved of any liability with respect to any delayed issuance of shares or
      its
      failure to issue shares if such delay or failure is necessary to comply with
      applicable laws.

     

    9.  Adjustments
      Upon Changes in Capitalization. In
      the event that any dividend or other distribution (whether in the form of cash,
      Shares, other securities, or other property), recapitalization, stock split,
      reverse stock split, reorganization, merger, consolidation, split-up, spin-off,
      combination, repurchase, or exchange of Shares or other securities of the
      Company, or other change in the corporate structure of the Company affecting
      the
      Shares occurs, the Board, in order to prevent diminution or enlargement of
      the
      benefits or potential benefits intended to be made available under this Option,
      may appropriately and equitably adjust the number, class, and Exercise Price
      of
      Shares covered by this Option to prevent enlargement or diminution of the value
      of this Option.

     

    10.  Investment
      Representation and Legend of Certificates. 

     

    (a)  The
      Optionee acknowledges and agrees that, for any period in which a registration
      statement, with respect to the Option and/or Shares under the Securities Act
      of
      1933, as amended (the “Securities Act”), is not effective, the Optionee shall
      hold the Option and will purchase and/or own the Optioned Shares for investment
      and not for resale or distribution. The Company shall have the right to place
      upon the face and/or reverse side of any stock certificate or certificates
      evidencing the Optioned Shares such legend as the Board may prescribe for the
      purpose of preventing disposition of such Optioned Shares in violation of the
      Securities Act.

     

    (b)  If
      a
      registration statement under the Securities Act is not in effect with respect
      to
      the Shares issuable upon exercise, the Company may require as a condition
      precedent that the Optionee, upon exercising the Option, deliver to the Company
      a written representation and undertaking, satisfactory in form and substance
      to
      the Company, that, among other things, the Optionee is acquiring the Shares
      for
      his own account for investment and not with a view to or for sale in connection
      with any distribution of the security. 

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    11.  No
      Evidence of Employment or Service. Nothing
      contained in this Agreement shall confer upon the Optionee any right to continue
      in employment with the Company, its parent or any of its subsidiaries or
      interfere in any way with the right of the Company, its parent or its
      subsidiaries (subject to the terms of any separate agreement to the contrary)
      to
      terminate the Optionee’s business relationship or to increase or decrease the
      Optionee’s compensation at any time.

     

    12.  Non-Transferability
      of Option. This
      Option may not be transferred in any manner otherwise than by will or by the
      laws of descent or distribution and may be exercised during the lifetime of
      the
      Optionee only by the Optionee. The terms of this Agreement will be binding
      upon
      the executors, administrators, heirs, successors and assigns of the
      Optionee.

     

    13.  Specific
      Performance.
      The Optionee expressly agrees that the Company will be irreparably damaged
      if
      the provisions of this Agreement are not specifically enforced. Upon a breach
      or
      threatened breach of the terms, covenants and/or conditions of this Agreement
      by
      the Optionee, the Company shall, in addition to all other remedies, be entitled
      to a temporary or permanent injunction, without showing any actual damage,
      and/or decree for specific performance, in accordance with the provisions hereof
      and thereof. The Board shall have the power to determine what constitutes a
      breach or threatened breach of this Agreement. Any such determinations shall be
      final and conclusive and binding upon the Optionee.

     

    14.  Notices. All
      notices or other communications which are required or permitted hereunder shall
      be in writing and sufficient if
      personally delivered or sent by telecopy,
      sent by nationally-recognized overnight courier, or
      sent by registered or certified mail, postage prepaid, return receipt requested,
      addressed as follows: 

     

    (a)  if
      to the
      Optionee, to the address (or telecopy number) set forth on the Notice of Grant;
      and

     

    (b)  if
      to the
      Company, to its principal executive office as specified in any report filed
      by
      the Company with the Securities and Exchange Commission or to such address
      as
      the Company may have specified to the Optionee in writing, Attention: Corporate
      Secretary;

     

    or
      to
      such other address as the party to whom notice is to be given may have furnished
      to the other party in writing in accordance herewith. Any such communication
      shall be deemed to have been given (i) when delivered, if personally delivered,
      or when telecopied, if telecopied, (ii) on the first Business Day (as
      hereinafter defined) after dispatch, if sent by nationally-recognized overnight
      courier and (iii) on the third Business Day following the date on which the
      piece of mail containing such communication is posted, if sent by mail. As
      used
      herein, “Business Day” means a day that is not a Saturday, Sunday or a day on
      which banking institutions in the city to which the notice
      or communication is to be sent are not required to be open.

     

    15.  No
      Waiver. No
      waiver of any breach or condition of this Agreement shall be deemed to be a
      waiver of any other or subsequent breach or condition, whether of like or
      different nature.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    16.  Optionee
      Undertaking. The
      Optionee agrees to take whatever additional actions and execute whatever
      additional documents the Company may in its reasonable judgment deem necessary
      or advisable in order to carry out or effect one or more of the obligations
      or
      restrictions imposed on the Optionee pursuant to the express provisions of
      this
      Agreement.

     

    17.  Governing
      Law. This
      Agreement shall be governed by, and construed in accordance with, the laws
      of
      the State of Nevada applicable to contracts made and to be wholly performed
      therein, without giving effect to its conflicts of laws principles.

     

    18.  Counterparts;
      Facsimile Execution. This
      Agreement may be executed in one or more counterparts, each of which shall
      be
      deemed to be an original, but all of which together shall constitute one and
      the
      same instrument. Facsimile execution and delivery of this Agreement is legal,
      valid and binding execution and delivery for all purposes.

     

    19.  Entire
      Agreement. This
      Agreement (including the Notice of Grant and the Exercise Notice) constitute
      the
      entire agreement between the parties with respect to the subject matter hereof,
      and supersedes all previously written or oral negotiations, commitments,
      representations and agreements with respect to the subject matter hereof, and
      may not be modified adversely to the Optionee’s interest except by means of a
      writing signed by the Company and Optionee. 

     

    20.  Severability. In
      the event one or more of the provisions of this Agreement should, for any
      reason, be held to be invalid, illegal or unenforceable in any respect, such
      invalidity, illegality or unenforceability shall not affect any other provisions
      of this Agreement, and this Agreement shall be construed as if such invalid,
      illegal or unenforceable provision had never been contained herein.

     

    21.  WAIVER
      OF JURY TRIAL. THE
      OPTIONEE HEREBY EXPRESSLY, IRREVOCABLY AND UNCONDITIONALLY WAIVES TRIAL BY
      JURY
      IN ANY LEGAL ACTION OR PROCEEDING RELATING TO THIS AGREEMENT AND FOR ANY
      COUNTERCLAIM THEREIN.

     

    By
      Optionee’s signature and the signature of the Company’s representative below,
      Optionee and the Company agree that this Option is granted under and governed
      by
      the terms and conditions of this Agreement. Optionee has reviewed this Agreement
      in its entirety, has had an opportunity to obtain the advice of counsel prior
      to
      executing this Agreement and fully understands all provisions of this Agreement.
      

     

    
      	 	 	CHINA TRANSINFO
              TECHNOLOGY
              CORP.
	 	 	 	 
	 	 	By:/s/
              Shudong Xia	 
	 	 	Name: Shudong Xia	 
	 	 	Title: Chief Executive Officer	 
	 	 	 	 
	 	 	 	 
	 	 	OPTIONEE	 
	 	 	 	 
	 	 	/s/ Zhihai Mao	 
	 	 	Zhihai Mao	 
	 	 	 	 

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    EXHIBIT
      A

    

    CHINA
      TRANSINFO TECHNOLOGY CORP.

    

    EXERCISE
      NOTICE

     

    China
      TransInfo Technology Corp. 

    [Address]

    

    1.  Exercise
      of Option.
      Effective as of today, ________________, 20__, the undersigned (“Optionee”)
      hereby elects to purchase______________ shares of the common stock (the
“Shares”) of China TransInfo Technology Corp. (the “Company”) under the option
      (the “Option”) represented by the Stock Option Agreement dated January 7, 2008
      (the “Option Agreement”).

     

    2.  Delivery
      of Payment.
      Optionee herewith delivers to the Company the full purchase price for the Shares
      and any and all withholding taxes due in connection with the exercise of the
      Option. 

     

    3.  Representations
      of Optionee.
      Optionee acknowledges that Optionee has received, read and understood the Option
      Agreement and agrees to abide by and be bound by its terms and
      conditions.

     

    4.  Rights
      as Stockholder.
      Until the issuance (as evidenced by the appropriate entry on the books of the
      Company or of a duly authorized transfer agent of the Company) of the Shares,
      no
      right to vote or receive dividends or any other rights as a stockholder will
      exist with respect to the Optioned Stock, notwithstanding the exercise of the
      Option. The Shares so acquired will be issued to the Optionee as soon as
      practicable after exercise of the Option. No adjustment will be made for a
      dividend or other right for which the record date is prior to the date of
      issuance, except as provided in the Option Agreement.

     

    5.  Tax
      Consultation.
      Optionee understands that Optionee may suffer adverse tax consequences as a
      result of Optionee’s purchase or disposition of the Shares. Optionee represents
      that Optionee has consulted with any tax consultants Optionee deems advisable
      in
      connection with the purchase or disposition of the Shares and that Optionee
      is
      not relying on the Company for any tax advice.

     

    6.  Successors
      and Assigns.
      The Company may assign any of its rights under this Exercise Notice to single
      or
      multiple assignees, and this Exercise Notice shall inure to the benefit of
      the
      successors and assigns of the Company. Subject to the restrictions on transfer
      herein set forth, this Exercise Notice shall be binding upon Optionee and his
      or
      her heirs, executors, Boards, successors and assigns.

     

    7.  Entire
      Agreement; Governing Law.
      The Option Agreement and Notice of Grant are incorporated herein by reference.
      This Exercise Notice, the Option Agreement, and Notice of Grant constitute
      the
      entire agreement of the parties with respect to the subject matter hereof and
      supersede in their entirety all prior undertakings and agreements of the Company
      and Optionee with respect to the subject matter hereof, and may not be modified
      adversely to the Optionee’s interest except by means of a writing signed by the
      Company and Optionee. This Exercise Notice is governed by the internal
      substantive laws, but not the choice of law rules, of Nevada. 

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

     

    
      	
              Submitted
                by:

            	
              Accepted
                by:

            
	 	 
	 	 
	
              Optionee

            	
              CHINA
                TRANSINFO TECHNOLOGY CORP.

            
	
              ___________________________________

              Signature

              ___________________________________

              Print
                Name

              ___________________________________

              Address

              ___________________________________

              ___________________________________

            	
              ___________________________________

               

              ___________________________________

               

              ___________________________________

              Address

              ___________________________________

              ___________________________________

               

              Date
                Received: _______________________January
      2, 2008

     

    Benda
      Pharmaceutical, Inc.

    Sunny
      New
      World Tower, 25th Floor, Room 13

    231
      Xin
      Hua Road, Jianghan District

    Wuhan,
      Hubei Province, PRC 430015

     

    
      	Attention:	
              Wan
                Yi Qing

            

    

    
      	Title:	
              Chairman
                and Chief Executive Officer

            

    

    

    Dear
      Wan
      Yi Qing:

    

    We
      are
      pleased that Benda Pharmaceutical, Inc. (the “Company”) has selected CRT Capital
      Group LLC (“CRT”) to act as its lead financial advisor in connection with
      reviewing the Company’s strategic and capital market alternatives, including
      exploration of any merger or acquisition, joint venture, divestiture, spin-off,
      financing or other strategic or capital market transaction (each, a
“Transaction”) that the Company may choose to pursue. This letter (this
“Engagement Letter”) sets forth the terms of CRT’s financial advisory engagement
      (the “Engagement”).

    

    
      	
              1.

            	
              Engagement.
                The Company hereby engages CRT to act as its lead financial advisor
                with
                respect to the advisory services set forth in paragraph 2 below.
                The
                parties acknowledge that (i) there can be no assurance that a Transaction
                will be completed and (ii) this Engagement Letter is solely for the
                use of
                the parties hereto and may not be relied on by any third
                party.

            

    

    

    
      	
              2.

            	
              Advisory
                Services.
                CRT shall provide such financial advice and assistance as the Company
                may
                reasonably request in connection with a review and, if applicable,
                and
                subject to future further engagement of CRT by the Company to effect
                a
                specific Transaction, the implementation of its strategic and capital
                markets alternatives. Such services may include, among other things,
                the
                following:

            

    

     

    
      	 	
              (a)

            	
              investigating
                the business, properties, operations and prospects of the
                Company;

            

    

     

    
      	 	
              (b)

            	
              assisting
                the Company in identifying its strategic and financial
                alternatives;

            

    

     

    
      	 	
              (c)

            	
              assisting
                the Company in defining and implementing its strategic and financial
                objectives;

            

    

     

    
      	 	
              (d)

            	
              reviewing
                the Company’s strategic and capital market plans and identifying and
                evaluating potential Transactions to give effect
                thereto;

            

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    
      Benda
        Pharmaceutical, Inc.

      January
        2, 2008

      Page
        2

    

     

    
      	 	
              (e)

            	
              creating
                such financial models, valuation analyses and other analytical tools,
                as
                well as such written summaries or presentation materials, as may
                be
                necessary in connection with any of the
                foregoing;

            

    

     

    
      	 	
              (f)

            	
              assisting
                the Company in analyzing, planning and, on a preliminary basis,
                structuring any proposed
                Transaction;

            

    

     

    
      	 	
              (g)

            	
              identifying
                potential investors in any
                Transaction;

            

    

     

    
      	 	
              (h)

            	
              identifying
                potential counterparties in any
                Transaction;

            

    

     

    
      	 	
              (i)

            	
              assisting
                the Company in enhancing its institutional profile with the investor
                community (e.g.,
                non-deal marketing and expanding the Company’s equity and scientific
                research coverage, etc.);

            

    

     

    
      	 	
              (j)

            	
              advising
                the Company of its capital markets alternatives for improving the
                trading
                dynamics for its common stock (e.g.,
                market making opportunities and potential future listings on securities
                exchanges); and

            

    

     

    
      	 	
              (k)

            	
              assisting
                the Company in establishing an investor relations office in New York,
                New
                York, to support the Company’s capital market
                initiatives.

            

    

    

    
      	
              3.

            	
              Retainer.
                As partial compensation for services to be rendered hereunder by
                CRT, the
                Company agrees to issue to CRT, upon signing of this Engagement Letter,
                a
                to be determined number of stock purchase warrants (collectively,
                the
                “Retainer Stock Purchase Warrants” and individually, a “Retainer Stock
                Purchase Warrant”) with a total economic value equal to $400,000 (the
                “Non-Cash Retainer Fee”). Each Retainer Stock Purchase Warrant shall be
                entitled to purchase one share of the Company’s common stock, expire five
                years from the date of issuance, have an exercise price equal to
                the
                closing share price on the date this Engagement Letter is executed
                and be
                exercisable at any time after issuance on a cashless basis. For purposes
                of determining the specific number of Retainer Stock Purchase Warrants
                to
                be issued in connection with the Non-Cash Retainer Fee, the value
                of a
                Retainer Stock Purchase Warrant shall be determined using Bloomberg’s
                warrant valuation model with an assumed volatility for the Company’s
                common stock equal to 30%. A print out of the Bloomberg warrant valuation
                model output valuing a Retainer Stock Purchase Warrant with the terms
                set
                forth in this Section 3 and using the closing price of the Company’s
                common stock on the date of this Engagement Letter and 30% volatility
                has
                been attached for purposes of determining the number of Retainer
                Stock
                Purchase Warrants to be issued.

            

    

    

    In
      the
      event that the Company raises any new capital or consummates any M&A
      transaction as described in Section 4 (a “Future Transaction”) resulting in a
      cash fee payable to CRT, CRT will credit $200,000 of economic value (which
      represents fifty percent of the economic value of the Non-Cash Retainer Fee)
      against any such cash fee for a Future Transaction.

     

    
      	
              4.

            	
              Engagement
                for Future Transactions.
                During the term of the Engagement and for a period of 12 months following
                the termination of this Engagement Letter, if the Company proposes
                to
                raise any new capital (as defined below) or engage in any M&A
                transaction (as defined below), then the Company shall give CRT notice
                of
                its intention to engage in such Transaction and an irrevocable,
                preferential right of first refusal to act as the Company’s lead managing
                underwriter, lead placement agent or lead financial advisor, as the
                case
                may be, and agree to negotiate an engagement pursuant thereto and
                as
                further specified below:

            

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

      Benda
        Pharmaceutical, Inc.

      January
        2, 2008

      Page
        3

    

     

    
      	 	
              (a)

            	
              Capital
                Raises.
                If the Company raises new capital in debt (including without limitation
                equity-linked debt) or equity securities (in any case, the “Securities”),
                it is contemplated that, in connection with any Transaction, the
                Company
                and CRT, as lead managing underwriter or lead placement agent, will
                enter
                into an underwriting or placement agent agreement (in either case,
                the
                “Underwriting Agreement”) in form and in substance satisfactory to CRT,
                the Company and their respective counsel. The precise amount, terms
                and
                rights of the Securities will be determined after discussion between
                the
                Company and CRT immediately prior to any
                offering.

            

    

    

    CRT’s
      compensation for capital raising transactions will be as follows:

    

    
      	 	
              i.

            	
              In
                the case where the Company raises non-equity linked debt securities,
                the
                Underwriting Agreement will provide, among other things, that CRT
                will
                purchase the debt from the Company at a 5% discount from the stated
                aggregate principal amount of the debt securities, provided that
                in the
                event the offering of debt securities takes the form of a placement
                in
                lieu of an underwriting, CRT shall be paid a placement fee in cash
                upon
                consummation of the offering in an amount equal to 5% of the aggregate
                principal amount of debt securities sold in the
                offering.

            

    

    

    
      	 	
              ii.

            	
              In
                the case where the Company raises equity or equity-linked securities,
                the
                Underwriting Agreement will provide, among other things, that CRT
                will
                purchase the equity or equity-linked securities from the Company
                at a 6%
                discount to the aggregate gross proceeds of the equity or equity-linked
                securities sold in the offering, provided that in the event the offering
                of equity or equity-linked securities takes the form of a placement
                in
                lieu of an underwriting, CRT shall be paid a placement fee in cash
                equal
                to 6% of the aggregate gross proceeds of the equity or equity-linked
                securities sold in the offering and, in both the case of an underwriting
                or a placement, will also be issued by the Company stock purchase
                warrants
                (in either case, the “Underwriter Stock Purchase Warrants”) to purchase
                shares of the Company’s common stock representing 8% of the number of
                shares underlying the equity and equity-linked securities sold in
                the
                offering. 

            

    

    

    The
      Underwriter Stock Purchase Warrants will have a term of five years and an
      exercise price equal to the lowest price paid by investors in the equity or
      equity-linked offering. The Underwriter Stock Purchase Warrants shall, among
      other things: (i) be transferable to any affiliate, including officers and
      directors, of CRT, (ii) permit exercise on a cashless basis, (iii) grant CRT
      registration rights equal to those granted to investors in the equity or
      equity-linked offering, and (iv) contain such other terms, including
      anti-dilution provisions, as are customarily included in warrants of similar
      type.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    
      Benda
        Pharmaceutical, Inc.

      January
        2, 2008

      Page
        4

    

     

    
      	 	
              (b)

            	
              M&A
                Transactions.
                If the Company engages in any M&A transaction (including without
                limitation acquisition of assets or capital stock of another company,
                merger, divestiture or spin-off), it is contemplated that, in connection
                with any Transaction, the Company and CRT, as lead financial advisor,
                will
                enter into an advisory agreement (“Advisory Agreement”) specific to such
                transaction in form and in substance satisfactory to CRT, the Company
                and
                their respective counsel. The Advisory Agreement will provide, among
                other
                things, for an advisory success fee in an amount to be mutually agreed
                for
                each transaction, such advisory success fee to be negotiated pursuant
                to
                provisions for customary fees for transactions of similar size and
                nature
                for CRT and the investment banking
                industry.

            

    

    

    
      	
              5.

            	
              Finders’
                Fee.
                The Company represents that there are no third party claims for services
                in the nature of a finder’s fee with respect to a
                Transaction.

            

    

    

    
      	
              6.

            	
              Expenses.
                The Company will bear all of its expenses in connection with the
                services
                to be provided under this Engagement Letter, including without limitation
                counsel and accounting fees and roadshow expenses, if any. In addition,
                the Company shall promptly, upon request therefore, reimburse CRT
                for all
                reasonable expenses (including without limitation fees and expenses
                of
                counsel, CRT BioMed LLC, any experts or consultants engaged by CRT
                in
                connection with performing its obligations hereunder and all travel,
                lodging, meals, mailing, telephone, due diligence and all other
                out-of-pocket expenses) incurred by CRT in connection with CRT’s
                engagement hereunder. 

            

    

    

    
      	
              7.

            	
              Due
                Diligence.
                The Company will make available to CRT and its counsel all material
                information regarding the Company and its officers, directors and
                stockholders.

            

    

    

    
      	
              8.

            	
              Termination.
                Each of the Company and CRT may terminate this Engagement Letter
                upon five
                business days written notice to the other party at any time after
                the
                earlier or i) a Future Transaction or ii) July 2, 2008 (the “Termination
                Date”); provided that the Company shall pay to CRT all fees earned
                pursuant to this Engagement Letter through the Termination Date.
                In the
                event that the Company consummates a Transaction substantially similar
                to
                Transactions discussed with CRT herein within 12 months of the Termination
                Date, the Company will pay CRT the compensation with respect to any
                such
                Transaction provided in paragraphs 3 and 4 above (unless CRT terminates
                this Engagement Letter prior thereto, in which event no such compensation
                shall be payable to CRT). The Company's obligations with respect
                to all
                fees and expenses due and payable to CRT pursuant to the terms set
                forth
                herein shall survive any termination of CRT's engagement
                hereunder.

            

    

    

    
      	
              9.

            	
              Indemnification.
                The Company shall indemnify CRT pursuant to the terms and conditions
                set
                forth in Addendum I, which is hereby incorporated by
                reference.

            

    

    

    
      	
              10.

            	
              Governing
                Law; Jurisdiction; Amendment; Headings.
                This Engagement Letter shall be governed by and construed in accordance
                with the laws of the State of New York applicable to agreements made
                and
                to be fully performed therein, without regard to conflicts of law
                principles. Each party hereby consents to submit to the jurisdiction
                of
                the courts of the United States of America located in the Southern
                District of New York. This Engagement Letter may not be modified
                or
                amended except in a writing duly executed by the parties hereto.
                The
                section headings in this Engagement Letter have been inserted as
                a matter
                of convenience of reference and are not part of this Engagement
                Letter.

            

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    Benda
      Pharmaceutical, Inc.

    January
      2, 2008

    Page
      5

     

    
      	
              11.

            	
              Counterparts.
                For the convenience of the parties, this Engagement Letter may be
                executed
                in any number of counterparts, each of which shall be, and shall
                be deemed
                to be, an original instrument, but all of which taken together shall
                constitute one and the same Engagement
                Letter.

            

    

    

    [The
      remainder of this page intentionally left blank]

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    If
      the
      foregoing correctly sets forth our understanding, please sign this Engagement
      Letter and return it to CRT.

    

    Very
      truly yours, 

    

    
      	
              CRT
                CAPITAL GROUP LLC

            	 
	 	 	 
	 	 	 
	 	 	 
	
              By:

            	
              /s/
                George Bickerstaff

            	 
	
              Name:

            	
              George
                Bickerstaff

            	 
	
              Title:

            	
              Managing
                Director

            	 

    

     

     

    Accepted
      and agreed as of the first date written above:

    

    
      	
              BENDA
                PHARMACEUTICAL, INC.

            	 
	 	 	 
	 	 	 
	 	 	 
	
              By:

            	
              /s/
                Yiqing Wan

            	 
	
              Name:

            	
              Yiqing
                Wan

            	 
	
              Title:

            	
              President

            	 

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    ADDENDUM
      I

     

    This
      Addendum I is attached to and incorporated by reference into the foregoing
      engagement letter (the “Engagement Letter”). Capitalized terms used herein and
      not otherwise defined herein shall have the meanings assigned to such terms
      in
      the Engagement Letter. 

     

    The
      Company hereby agrees to indemnify and hold harmless CRT and its affiliates,
      and
      the respective directors, officers, partners, members, controlling persons
      (within the meaning of Section 15 of the Securities Act of 1933, as amended,
      or
      Section 20 of the Securities Exchange Act of 1934, as amended), agents, counsel
      and employees of CRT or any of its affiliates (CRT and each such other person
      or
      entity being referred to individually as an “Indemnified Person” and,
      collectively, as “Indemnified Persons”), to the full extent lawful, from and
      against any and all claims, liabilities, losses, damages, penalties, judgments,
      awards and expenses incurred by any Indemnified Person (including fees and
      disbursements of counsel) which (A) relate to or arise out of (i) actions taken
      or omitted to be taken (including any untrue statements made or alleged to
      have
      been made or any statements omitted or alleged to have been omitted, whether
      in
      connection with any information or materials prepared by or for the Company
      or
      CRT or any other oral or written statements) by the Company, its affiliates,
      directors, employees or agents, or (ii) actions taken or omitted to be taken
      by
      an Indemnified Person with the Company's consent or in conformity with its
      instructions or its actions or omissions, or (B) otherwise relate to or arise
      out of CRT's activities on the Company's behalf in connection with the
      Engagement Letter (collectively, “Damages”). In addition, the Company will
      reimburse CRT and any other Indemnified Person for all costs and expenses,
      including counsel fees and disbursements, as they are incurred, in connection
      with investigating, preparing and defending any action, formal or informal
      claim, investigation, inquiry or other proceeding (collectively, “Action”),
      whether or not in connection with pending or threatened litigation, caused
      by or
      arising out of or in connection with CRT acting pursuant to the Engagement
      Letter, whether or not CRT or any Indemnified Person is named as a party thereto
      and whether or not any liability results therefrom; provided the Company shall
      have the right to review and comment upon such Indemnified Person’s selection
      and retention of counsel. The Company will not, however, be responsible for
      any
      Damages pursuant to clause (B) above which are finally judicially determined
      by
      a court of competent jurisdiction (not subject to further review) to have
      resulted primarily from CRT's willful misconduct or gross negligence. The
      Company also agrees that neither CRT nor any other Indemnified Person shall
      have
      any liability to the Company for or in connection with such engagement except
      for any such liability for Damages incurred by the Company which are finally
      judicially determined by a court of competent jurisdiction (not subject to
      further review) to have resulted primarily from CRT's willful misconduct or
      gross negligence.

    

    The
      Company will not, without CRT's prior written consent, settle, compromise,
      consent to the entry of any judgment in or otherwise seek to terminate any
      Action in respect of which indemnification may be sought hereunder (whether
      or
      not any Indemnified Person is a party thereto) unless such settlement,
      compromise, consent or termination includes an unconditional release of each
      Indemnified Person from all Damages arising out of such Action.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    In
      order
      to provide for just and equitable contribution, if a claim for indemnification
      is made pursuant to these provisions, but it is found in a final judgment by
      a
      court of competent jurisdiction (not subject to further appeal) that such
      indemnification is not available for any reason even though the express
      provisions hereof provide for indemnification in such case, then the Company,
      on
      the one hand, and CRT on the other hand, shall contribute to such Damages for
      which such indemnification or reimbursement is held unavailable in such
      proportion as is appropriate to reflect the relative benefits to the Company
      and
      its shareholders and creditors, on the one hand, and CRT on the other hand,
      in
      connection with the actions contemplated by the engagement, subject to the
      limitation that in any event the aggregate contribution of CRT and all
      Indemnified Persons to all Damages to which contribution is available hereunder
      shall not exceed the
      amount of fees actually
      received by CRT pursuant to the Engagement Letter. For the purposes of this
      agreement, the relative benefits to the Company and its shareholders and
      creditors, on the one hand, and CRT, on the other hand, of the Engagement shall
      be deemed to be in the same proportion as (a) the total value paid or
      contemplated to be paid or received or retained or contemplated to be received
      or retained by the Company and its shareholders and creditors in the transaction
      or transactions that are the subject of the Engagement, whether or not any
      such
      transaction is consummated, bears to (b) the fees paid or contemplated to be
      paid to CRT under the Engagement Letter.

    

    The
      foregoing right to indemnity and contribution shall be in addition to any rights
      that CRT or any other Indemnified Person may have at common law or otherwise
      and
      shall remain in full force and effect following the completion or any
      termination of CRT's engagement and shall be binding on and inure to the benefit
      of the successors, assigns, heirs and personal representatives of the Company
      and CRT and any other Indemnified Party.

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