Share Transfer Agreement
Party
A:
Zhejiang Kandi Vehicles Co. Ltd.
Party
B:
Erwa Lu
Party
C:
Xxxxxx Xxx
After
friendly negotiations, parties A, B and C have reached an agreement to the
arrangements related to the transfer of party A’s shares of Zhejiang Yongkang
Import & Export Co. Ltd. (“Dingji”) to parties B and C as follows:
| 1. |
Party
A will transfer 100% of its shares of Dingji to parties B and C.
Party B
shall pay to Party A RMB 3.5 million for 70% of the Dingji shares,
and
Party C shall pay to Party A RMB 1.5 million for the remaining 30%
of the
Dingji shares.
|
| 2. |
After
the transfer of shares, Party A will no longer have any rights or
responsibilities as a shareholder of Dingji, while parties B and
C will
become shareholders of Dingji and have all the rights and responsibilities
of the shareholders prescribed in Dingji’s Articles of
Association.
|
| 3. |
This
agreement is signed in the meeting room of Dingji on May 9, 2008
and takes
effect immediately after signing and
stamping.
|
Party
A:
Party
B:
Party
C:
May
9,
2008
