EXHIBIT 10.23
AMENDMENT
This AMENDMENT (this "AMENDMENT"), dated as of February 21, 2006, is
entered into by and among Zhongpin Inc. (formerly known as Strong Technical
Inc.), a Delaware corporation (the "COMPANY"), Falcon Link Investment Limited, a
corporation formed under the laws of The British Virgin Islands ("FALCON"), each
of the entities listed on Exhibit A hereto (each a "PURCHASER" and collectively,
the "PURCHASERS"), and D.H. Vermoegensverwaltung-und Beteiligungsgesellschaft
mbH (the "WITHDRAWING PURCHASER"), for the purpose of amending the terms of (i)
the Securities Purchase Agreement dated as of January 30, 2006 (the "SECURITIES
PURCHASE AGREEMENT") among the Company, Falcon and the purchasers listed on
Exhibit A thereto (collectively, the "ORIGINAL PURCHASERS") and (ii) the
Registration Rights Agreement dated as of January 30, 2006 (the "REGISTRATION
RIGHTS AGREEMENT") among the Company and the Original Purchasers. Capitalized
terms used herein without definition shall have the meanings ascribed to such
terms in the Securities Purchase Agreement.
WHEREAS, the Company, Falcon, the Purchasers and the Withdrawing
Purchaser have agreed to make certain amendments to the Securities Purchase
Agreement and the Registration Rights Agreement as set forth herein;
NOW, THEREFORE, in consideration of the above, and for other good and
valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, the parties hereto agree as follows:
1. From and after the date hereof, the Withdrawing Purchaser
shall no longer be a "PURCHASER" under, or a party to, the Securities Purchase
Agreement or an "INVESTOR" under, or a party to, the Registration Rights
Agreement, and the Withdrawing Purchaser hereby acknowledges and agrees that it
has not paid the Purchase Price for the Shares and Warrants to be acquired by it
under the Securities Purchase Agreement and, as a result, it is not entitled to
any of the rights or benefits afforded to the purchasers of the Shares or
Warrants under the Securities Purchaser Agreement or the Registration Rights
Agreement.
2. The Company agrees to issue and sell to the Purchasers listed
on Annex A to this Amendment and, in consideration of and in express reliance
upon, the representations, warranties, covenants, terms and conditions of the
Securities Purchase Agreement, the Purchasers listed on Annex A to this
Amendment, severally and not jointly, agree to purchase the number of Shares and
Warrants set forth opposite their respective names on Annex A to this Amendment.
Upon execution and delivery of this Amendment, each of the Purchasers listed on
Annex A to this Amendment, if not currently a party to the Securities Purchase
Agreement, shall become a party to, and, as a "PURCHASER" (as defined in the
Securities Purchase Agreement"), shall be subject to the terms and conditions
of, the Securities Purchase Agreement.
3. The Company, Falcon, the Purchasers and the Withdrawing
Purchaser hereby agree that Exhibit A to the Securities Purchase Agreement is
hereby amended and restated in its entirety to read as set forth on Exhibit A to
this Amendment.
4. The Company, Falcon, the Purchasers and the Withdrawing
Purchaser hereby agree that Schedule A to the Registration Rights Agreement is
hereby amended and restated in its entirety to read as set forth on Schedule A
to this Amendment. Upon execution and delivery of this Amendment, each of the
Purchasers listed on Annex A to this Amendment, if not currently a party to the
Registration Rights Agreement, shall become a party to, and, as an "INVESTOR"
(as defined in the Registration Rights Agreement"), shall be subject to the
terms and conditions of, the Registration Rights Agreement.
5. Each amendment set forth herein shall be effective as of the
date first above written (the "AMENDMENT EFFECTIVE DATE") on the date when (i)
each of the parties shall have executed and delivered a counterpart to this
Amendment; (ii) the Purchasers listed on Annex A to this Amendment shall have
delivered the Purchase Price for the Shares and Warrants to be purchased by such
Purchasers pursuant to Section 2 of this Amendment to Law Debenture Trust
Company of New York, as escrow agent under the escrow agreement dated as of
January 30, 2006 in the form of Exhibit H to the Securities Purchase Agreement;
and (iii) an Amendment to Escrow Agreement in the form annexed hereto as Exhibit
B (the "ESCROW AMENDMENT") shall have been executed and delivered by the parties
thereto.
6. Each of the Purchasers hereby consents to the execution and
delivery of the Escrow Amendment by the parties thereto and to the amendment to
the Escrow Agreement (as defined in the Escrow Amendment) to be effected by the
Escrow Amendment.
7. Except as specifically set forth in this Amendment, there are
no other amendments, modifications or waivers to the Securities Purchase
Agreement or the Registration Rights Agreement, and all of the other terms and
provisions of the Securities Purchase Agreement and the Registration Rights
Agreement remain in full force and effect.
8. From and after the Amendment Effective Date, all references to
the Securities Purchase Agreement or the Registration Rights Agreement shall be
deemed to be references to the Securities Purchase Agreement and/or the
Registration Rights Agreement, as the case may be, as modified hereby.
9. This Amendment shall be binding upon the parties hereto and
their respective successors and permitted assigns and shall inure to the benefit
of and be enforceable by each of the parties hereto and their respective
successors and permitted assigns. THIS AMENDMENT SHALL BE CONSTRUED AND ENFORCED
IN ACCORDANCE WITH AND GOVERNED BY THE LAW OF THE STATE OF NEW YORK. This
Amendment may be executed in any number of counterparts, each of which shall be
an original, but all of which shall constitute one instrument.
[THE REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK]
2
IN WITNESS WHEREOF, each of the parties has caused this Amendment to be
signed in its name effective as of the Amendment Effective Date.
ZHONGPIN INC.
By: /s/ Xxxxxxx Xxxx
--------------------------------------
Name: Xxxxxxx Xxxx
Title: Authorized Representative
FALCON LINK INVESTMENT LIMITED
By: /s/ Xxxxxxx Xxxx
--------------------------------------
Name: Xxxxxxx Xxxx
Title: Authorized Representative
AMARANTH GLOBAL EQUITIES MASTER
FUND LIMITED
By: /s/ Xxxx Xxxxxxx
--------------------------------------
Name: Xxxx Xxxxxxx
Title: Authorized Representative
ATLAS CAPITAL MASTER FUND LP
By: /s/ Xxxxxx Xxxxxx
--------------------------------------
Name: Xxxxxx Xxxxxx
Title: Managing Director
ATLAS CAPITAL (Q.P.), LP
By: /s/ Xxxxxx Xxxxxx
--------------------------------------
Name: Xxxxxx Xxxxxx
Title: Managing Director
3
ATLAS CAPITAL OFFSHORE EXEMPT FUND, LTD.
By: /s/ Xxxxxx Xxxxxx
--------------------------------------
Name: Xxxxxx Xxxxxx
Title: Managing Director
BFS US SPECIAL OPPORTUNITIES TRUST
PLC
By: /s/ Xxxxxxx Xxxxxxxxx
--------------------------------------
Name: Xxxxxxx Xxxxxxxxx
Title: President
XXXX Capital Group, Inc.
Investment Adviser
CORDILLERA FUND, LP
By: /s/ Xxxxx X. Xxxxxx
--------------------------------------
Name: Xxxxx X. Xxxxxx
Title: Co-CEO of Xxxxxx Xxxxxx Capital, Inc.,
General Partner of ACCF GenPar, L.P.,
General Partner of the Cordillera Fund,
L.P.
CRESTVIEW CAPITAL MASTER LLC
By: /s/ Xxxxxx Xxxx
--------------------------------------
Name: Xxxxxx Xxxx
Title: Managing Director
D.H. VERMOEGENSVERWALTUNG - UND
BETEILIGUNGSGESELLSCHAFT MBH
By: /s/ Xxxx Xxxxx
--------------------------------------
Name: Xxxx Xxxxx
Title: Managing Director
4
GRYPHON MASTER FUND, L.P.
By: /s/ X.X. Xxxx XX
--------------------------------------
Name: X.X. Xxxx XX
Title: Authorized Agent
GSSF MASTER FUND, L.P.
By: /s/ X.X. Xxxx XX
--------------------------------------
Name: X.X. Xxxx XX
Title: Authorized Agent
JAYHAWK CHINA FUND (CAYMAN), LTD.
By: /s/ Xxxxx Xxxxxx
--------------------------------------
Name: Xxxxx Xxxxxx
Title: Chief Financial Officer
PINNACLE CHINA FUND, L.P.
By: /s/ Xxxxx X. Xxxx
--------------------------------------
Name: Xxxxx X. Xxxx
Title: Sole Member, Kitt China Management,
L.L.C., the Manager of Pinnacle China
Management, L.L.C., the General Partner of
Pinnacle China Advisors, L.P., the General
Partner of Pinnacle China Fund, L.P.
RENAISSANCE US GROWTH INVESTMENT
TRUST PLC
By: /s/ Xxxxxxx Xxxxxxxxx
--------------------------------------
Name: Xxxxxxx Xxxxxxxxx
Title: President
XXXX Capital Group, Inc.
Investment Adviser
5
/s/ Xxxxxxx Xxxx
--------------------------------------
XXXXXXX XXXX
SANDOR CAPITAL MATER FUND, LP
By: /s/ Xxxx X. Xxxxx
--------------------------------------
Name: Xxxx X. Xxxxx
Title: General Partner
XXXXXXXXX PARTNERS, LP
By: /s/ Xxxxxx Xxxxxxx
--------------------------------------
Name: Xxxxxx Xxxxxxx
Title: Managing Director
SPECIAL SITUATIONS PRIVATE EQUITY
FUND, L.P.
By: /s/ Xxxxx Greenhouse
--------------------------------------
Name: Xxxxx Greenhouse
Title: Managing Director
SPECIAL SITUATIONS FUND III QP, L.P.
By: /s/ Xxxxx Greenhouse
--------------------------------------
Name: Xxxxx Greenhouse
Title: Managing Director
SPECIAL SITUATIONS FUND III, L.P.
By: /s/ Xxxxx Greenhouse
--------------------------------------
Name: Xxxxx Greenhouse
Title: Managing Director
6
SRB GREENWAY OFFSHORE OPERATING
FUND, L.P.
By: /s/ Xxxxx Xxxxxx
--------------------------------------
Name: Xxxxx Xxxxxx
Title: Member
SRB GREENWAY CAPITAL, L.P.
By: /s/ Xxxxx Xxxxxx
--------------------------------------
Name: Xxxxx Xxxxxx
Title: Member
SRB GREENWAY CAPITAL (QP), L.P.
By: /s/ Xxxxx Xxxxxx
--------------------------------------
Name: Xxxxx Xxxxxx
Title: Member
VISION OPPORTUNITY MASTER FUND,
LTD.
By: /s/ Xxxx Xxxxxxxx
--------------------------------------
Name: Xxxx Xxxxxxxx
Title: Managing Partner
WESTPARK CAPITAL, L.P.
By: /s/ Xxxxxxx X. Broshahan
--------------------------------------
Name: Xxxxxxx X. Broshahan
Title: General Partner
7
WS OPPORTUNITY FUND INTERNATIONAL,
LTD.
By: /s/ Xxxxxxx X. Xxxxxx
--------------------------------------
Name: Xxxxxxx X. Xxxxxx
Title: Member
WS OPPORTUNITY FUND, L.P.
By: /s/ Xxxxxxx X. Xxxxxx
--------------------------------------
Name: Xxxxxxx X. Xxxxxx
Title: Member
WS OPPORTUNITY FUND (QP), L.P.
By: /s/ Xxxxxxx X. Xxxxxx
--------------------------------------
Name: Xxxxxxx X. Xxxxxx
Title: Member
8
ANNEX A
LIST OF PURCHASERS
-----------------------------------------------------------------------------------------------------------------------
NUMBER OF DOLLAR
NAMES AND ADDRESSES OF NUMBER OF SHARES WARRANTS AMOUNT
PURCHASERS PURCHASED PURCHASED OF INVESTMENT
-----------------------------------------------------------------------------------------------------------------------
BFS US Special Opportunities Trust PLC 125,000 62,500 $500,000
c/o RENN Capital Group, Inc.
0000 Xxxxxxx Xxxxxxxxxx, Xxxxx 000, XX-00
Xxxxxx, XX 00000
-----------------------------------------------------------------------------------------------------------------------
Cordillera Fund, L.P. 100,000 50,000 $400,000
0000 Xxxxxxx Xxxx, Xxxxx 000
Xxxxxx, XX 00000
-----------------------------------------------------------------------------------------------------------------------
Gryphon Master Fund, L.P. 175,000 87,500 $700,000
000 Xxxxxxxx Xxxxx, Xxxxx 000
Xxxxxx, XX 00000
-----------------------------------------------------------------------------------------------------------------------
GSS Master Fund, L.P. 75,000 37,500 $300,000
000 Xxxxxxxx Xxxxx, Xxxxx 000
Xxxxxx, XX 00000
-----------------------------------------------------------------------------------------------------------------------
Jayhawk China Fund (Cayman), Ltd. 400,000 200,000 $1,600,000
c/o Genesis Fund Services Limited
Xxxxxxx'x Bay Corporate Centre
West Bay Street, Third Floor
P.O. Box N-9508
Nassau, New Providence
Bahamas
-----------------------------------------------------------------------------------------------------------------------
Renaissance US Growth Investment Trust PLC 125,000 62,500 $500,000
c/o RENN Capital Group, Inc.
0000 Xxxxxxx Xxxxxxxxxx, Xxxxx 000, XX-00
Xxxxxx, XX 00000
-----------------------------------------------------------------------------------------------------------------------
Westpark Capital, L.P. 250,000 125,000 $1,000,000
0000 Xxxxxxx Xxxx Xxxxxxxxx
Xxxxx 000
Xxxxx, XX 00000
-----------------------------------------------------------------------------------------------------------------------
An A-1
EXHIBIT A
LIST OF PURCHASERS
-------------------------------------------------------------------------------------------------------------------------------
NUMBER OF DOLLAR
NAMES AND ADDRESSES OF NUMBER OF SHARES WARRANTS AMOUNT
PURCHASERS PURCHASED PURCHASED(1) OF INVESTMENT
-------------------------------------------------------------------------------------------------------------------------------
Pinnacle China Fund, L.P. 1,500,000 750,000 $6,000,000
0000 Xxxxxxx Xxxx Xxxx
Xxxxx 000
Xxxxx, XX 00000
-------------------------------------------------------------------------------------------------------------------------------
Amaranth Global Equities Master Fund Limited 250,000 125,000 $1,000,000
c/o Dundee Leeds Management Services (Cayman) Ltd.
Xxxxxxxxxx Xxxxxx
00 X. Xxxxxx Xx, 0xx Xx.
Xxxxxx Town, Grand Cayman
Cayman Islands, British West Indies
-------------------------------------------------------------------------------------------------------------------------------
Atlas Capital Master Fund LP 283,750 141,874.989 $1,135,000
c/o Admiral Administration
Admiral Financial Center, 0xx Xxxxx
00 Xxxx Xxxxxx
Box 32021
SMB
Grand Cayman, Cayman Islands
-------------------------------------------------------------------------------------------------------------------------------
Atlas Capital (Q.P.), L.P. 172,000 86,000 $688,000
000 Xxxxxxxx Xxxxx
Xxxxx 000
Xxxxxx, XX 00000
-------------------------------------------------------------------------------------------------------------------------------
Atlas Capital Offshore Exempt Fund, Ltd. 44,250 22,125.010 $177,000
c/o Admiral Administration
Admiral Financial Center, 0xx Xxxxx
00 Xxxx Xxxxxx
Box 32021
SMB
Grand Cayman, Cayman Islands
-------------------------------------------------------------------------------------------------------------------------------
BFS US Special Opportunities Trust PLC 375,000 187,500 $1,500,000
Front National Bank
000 X. Xxxxxxx Xxxxxx
Xxx Xxxxxxx, XX 00000
Attn: Xxxxx Xxxxxxxxx T-8
-------------------------------------------------------------------------------------------------------------------------------
--------------------------
(1) Adjusted to give effect to the one-for-35.349 reverse stock split
effected on February 16, 2006.
Ex A-1
-------------------------------------------------------------------------------------------------------------------------------
NUMBER OF DOLLAR
NAMES AND ADDRESSES OF NUMBER OF SHARES WARRANTS AMOUNT
PURCHASERS PURCHASED PURCHASED(1) OF INVESTMENT
-------------------------------------------------------------------------------------------------------------------------------
Cordillera Fund, L.P. 100,000 50,000 $400,000
0000 Xxxxxxx Xxxx, Xxxxx 000
Xxxxxx, XX 00000
-------------------------------------------------------------------------------------------------------------------------------
Crestview Capital Master LLC 250,000 125,000 $1,000,000
00 Xxxxxx Xxxxx, Xxxxx X
Xxxxxxxxxx XX 00000
-------------------------------------------------------------------------------------------------------------------------------
Gryphon Master Fund, L.P. 175,000 87,500 $700,000
000 Xxxxxxxx Xxxxx, Xxxxx 000
Xxxxxx, XX 00000
-------------------------------------------------------------------------------------------------------------------------------
GSS Master Fund, L.P. 75,000 37,500 $300,000
000 Xxxxxxxx Xxxxx, Xxxxx 000
Xxxxxx, XX 00000
-------------------------------------------------------------------------------------------------------------------------------
Jayhawk China Fund (Cayman), Ltd. 900,000 450,000 $3,600,000
c/o Genesis Fund Service Limited
0000 Xxxxxxx Xxxx, Xxxxx 000
Xxxxxxx Xxxxxxx, XX 00000
-------------------------------------------------------------------------------------------------------------------------------
Renaissance US Growth Investment Trust PLC 375,000 187,500 $1,500,000
Front National Bank
000 X. Xxxxxxx Xxxxxx
Xxx Xxxxxxx, XX 00000
Attn: Xxxxx Xxxxxxxxx T-8
Xxxxxx, XX 00000
-------------------------------------------------------------------------------------------------------------------------------
Xxxxxxx X. Xxxx 75,000 37,500.014 $300,000
000 Xxxxxxx Xxxx Xxxx, Xxx. 00-X0
Xxx Xxxx, Xxx Xxxx 00000
-------------------------------------------------------------------------------------------------------------------------------
Sandor Capital Master Fund, LP 125,000 62,500.014 $500,000
0000 Xxxxx Xxxxxx
Xxxxx 000
Xxxxxx, XX 00000
-------------------------------------------------------------------------------------------------------------------------------
Xxxxxxxxx Partners, LP 437,500 218,750.007 $1,750,000
0000 Xxxxx Xxxxx Xxxxxx
Xxxxxx, XX 00000
-------------------------------------------------------------------------------------------------------------------------------
Special Situations Private Equity Fund, L.P. 214,500 107,249.992 $858,000
000 Xxxxxxx Xxxxxx, Xxxxx 0000
Xxx Xxxx, XX 00000
-------------------------------------------------------------------------------------------------------------------------------
Ex A-2
-------------------------------------------------------------------------------------------------------------------------------
NUMBER OF DOLLAR
NAMES AND ADDRESSES OF NUMBER OF SHARES WARRANTS AMOUNT
PURCHASERS PURCHASED PURCHASED(1) OF INVESTMENT
-------------------------------------------------------------------------------------------------------------------------------
Special Situations Fund III QP, L.P. 492,750 246,375.003 $1,971,000
000 Xxxxxxx Xxxxxx, Xxxxx 0000
Xxx Xxxx, XX 00000
-------------------------------------------------------------------------------------------------------------------------------
Special Situations Fund III, L.P. 42,750 21,375.003 $171,000
000 Xxxxxxx Xxxxxx, Xxxxx 0000
Xxx Xxxx, XX 00000
-------------------------------------------------------------------------------------------------------------------------------
SRB Greenway Offshore Operating Fund, L.P. 6,674 3,337.491 $26,696
000 Xxxxxxxx Xxxxx, Xxxxx 0000
Xxxxxx, XX 00000
Attn: Xxx Xxxxxxx
-------------------------------------------------------------------------------------------------------------------------------
SRB Greenway Capital, L.P. 13,326 6,662.508 $53,304
000 Xxxxxxxx Xxxxx, Xxxxx 0000
Xxxxxx, XX 00000
Attn: Xxx Xxxxxxx
-------------------------------------------------------------------------------------------------------------------------------
SRB Greenway Capital (QP), L.P. 105,000 52,500.014 $420,000
000 Xxxxxxxx Xxxxx, Xxxxx 0000
Xxxxxx, XX 00000
Attn: Xxx Xxxxxxx
-------------------------------------------------------------------------------------------------------------------------------
Vision Opportunity Master Fund, Ltd. 450,000 225,000 $1,800,000
000 Xxxxxxx Xxxxxx, Xxxxx 0000
Xxx Xxxx, XX 00000
-------------------------------------------------------------------------------------------------------------------------------
Westpark Capital, L.P. 250,000 125,000 $1,000,000
0000 Xxxxxxx Xxxx Xxxxxxxxx
Xxxxx 000
Xxxxx, XX 00000
-------------------------------------------------------------------------------------------------------------------------------
WS Opportunity Fund International, Ltd. 95,000 47,500.014 $380,000
000 Xxxxxxxx Xxxxx, Xxxxx 0000
Xxxxxx, XX 00000
Attn: Xxx Xxxxxxx
-------------------------------------------------------------------------------------------------------------------------------
WS Opportunity Fund, L.P. 55,000 27,500.014 $220,000
000 Xxxxxxxx Xxxxx, Xxxxx 0000
Xxxxxx, XX 00000
Attn: Xxx Xxxxxxx
-------------------------------------------------------------------------------------------------------------------------------
WS Opportunity Fund (QP), L.P. 37,500 18,750.007 $150,000
000 Xxxxxxxx Xxxxx, Xxxxx 0000
Xxxxxx, XX 00000
Attn: Xxx Xxxxxxx
-------------------------------------------------------------------------------------------------------------------------------
Ex A-3
SCHEDULE A
LIST OF INVESTORS
Amaranth Global Equities Master Fund Limited
Atlas Capital Master Fund LP
Atlas Capital (Q.P.), L.P.
Atlas Capital Offshore Exempt Fund, Ltd.
BFS US Special Opportunities Trust PLC
Cordillera Fund, LP
Crestview Capital Master LLC
Gryphon Master Fund, L.P.
GSSF Master Fund, L.P.
Jayhawk China Fund (Cayman), Ltd.
Pinnacle China Fund LP
Renaissance US Growth Investment Trust PLC
Xxxxxxx X. Xxxx
Xxxxxx Capital Master Fund, XX
Xxxxxxxxx Partners, LP
Special Situations Private Equity Fund, L.P.
Special Situations Fund III QP, L.P.
Special Situations Fund III, L.P.
SRB Greenway Offshore Operating Fund, L.P.
SRB Greenway Capital, L.P.
SRB Greenway Capital (QP), L.P.
Vision Opportunity Master Fund, LTD.
Westpark Capital, L.P.
WS Opportunity Fund International, Ltd.
WS Opportunity Fund, L.P.
WS Opportunity Fund (QP), L.P.
Sch A-1
EXHIBIT B
AMENDMENT TO
ESCROW AGREEMENT
This Amendment to Escrow Agreement (this "AMENDMENT"), dated as of
February 21, 2006, is entered into by and among Zhongpin Inc. (formerly known as
Strong Technical Inc.), a Delaware corporation (the "Company"), each of the
parties listed below that is a stockholder of the Company (collectively, the
"STOCKHOLDERS"), and Law Debenture Trust Company of New York, a New York banking
corporation, as escrow agent (hereinafter referred to as the "ESCROW AGENT"),
for the purpose of amending the Escrow Agreement dated as of January 30, 2006
(the "ESCROW AGREEMENT") among the Company, the Stockholders and the Escrow
Agent.
WHEREAS, the Company and the Stockholders have agreed to amend Schedule
B to the Escrow Agreement set forth in this Amendment;
NOW, THEREFORE, in consideration of the above, and for other good and
valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, the parties hereto agree as follows:
1. Schedule B to the Escrow Agreement is hereby amended and
restated in its entirety to read as set forth on the schedule annexed to this
Amendment.
2. The amendment set forth herein shall be effective as of the
date first above written (the "AMENDMENT EFFECTIVE DATE") on the date when (i)
each of the parties shall have executed and delivered a counterpart to this
Amendment; and (ii) each of the conditions set forth in clauses (i) and (ii) to
Section 5 of the Amendment dated as of the date hereof among the Company, Falcon
Link Investment Limited, the Purchasers named there and D.H.
Vermoegensverwaltung - und Beteiligungsgesellschaft mbH shall have been
satisfied.
3. Except as specifically set forth in this Amendment, there are
no other amendments, modifications or waivers to the Escrow Agreement, and all
of the other terms and provisions of the Escrow Agreement remain in full force
and effect.
4. From and after the Amendment Effective Date, all references to
the Escrow Agreement shall be deemed to be references to the Escrow Agreement,
as modified hereby.
5. This Amendment shall be binding upon the parties hereto and
their respective successors and permitted assigns and shall inure to the benefit
of and be enforceable by each of the parties hereto and their respective
successors and permitted assigns. THIS AMENDMENT SHALL BE CONSTRUED AND ENFORCED
IN ACCORDANCE WITH AND GOVERNED BY THE LAW OF THE STATE OF NEW YORK. This
Amendment may be executed in any number of counterparts, each of which shall be
an original, but all of which shall constitute one instrument.
Ex B-1
IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
duly executed by their respective authorized officers as of the date first above
written.
ZHONGPIN INC.
By:
--------------------------------
Name: Xxxxxxx Xxxx
Title: Authorized Representative
LAW DEBENTURE TRUST COMPANY
OF NEW YORK, AS ESCROW AGENT
By:
--------------------------------
Name: Xxxxx Xxxxxxx
Title:
STOCKHOLDERS:
--------------------------------
ZHU, Xianfu
--------------------------------
BEN, Boake
--------------------------------
LIU, Chaoyang
--------------------------------
WANG, Qinghe
--------------------------------
SI, Shuichi
--------------------------------
WANG, Juanjuan
Ex B-2
--------------------------------
LIN, Yousu
--------------------------------
XXXX, Xxxx
--------------------------------
WANG, Yunchun
Ex B-3
SCHEDULE B
NUMBER OF NUMBER OF
TAX I.D. ESCROW SHARES ESCROW SHARES
NAME OF PURCHASER ADDRESS NUMBER FISCAL 2006 FISCAL 2007
----------------- ------- ------ ----------- -----------
Pinnacle China Fund L.P. 0000 Xxxxxxx Xxxx Xxxx 00-0000000 4,322,573 4,322,573
Xxxxx 000
Xxxxx, XX 00000
Amaranth Global Equities c/o Dundee Leeds Management Services 00-0000000 720,429 720,429
Master Fund Limited (Cayman) Ltd.
Xxxxxxxxxx Xxxxxx
00 X. Xxxxxx Xx, 0xx Xx.
Xxxxxx Town, Grand Cayman
Cayman Islands, British West Indies
Atlas Capital Master Fund LP c/o Admiral Administration 817,687 817,687
Admiral Financial Center, 0xx Xxxxx
00 Xxxx Xxxxxx
Box 32021
SMB
Grand Cayman, Cayman Islands
Atlas Capital (Q.P.), LP 000 Xxxxxxx Xxxxx, Xxxxx 000 00-0000000 495,655 495,655
Xxxxxx, XX 00000
Atlas Capital Offshore Exempt c/o Admiral Administration 127,516 127,516
Fund, Ltd. Admiral Financial Center, 0xx Xxxxx
00 Xxxx Xxxxxx
Box 32021
SMB
Grand Cayman, Cayman Islands
Sch B-1
NUMBER OF NUMBER OF
TAX I.D. ESCROW SHARES ESCROW SHARES
NAME OF PURCHASER ADDRESS NUMBER FISCAL 2006 FISCAL 2007
----------------- ------- ------ ----------- -----------
BFS US Special Opportunities Front National Bank 1,080,643 1,080,643
Trust PLC 000 X. Xxxxxxx Xxxxxx
Xxx Xxxxxxx, XX 00000
Attn: Xxxxx Xxxxxxxxx T-8
Cordillera Fund, LP 0000 Xxxxxxx Xxxx, Xxxxx 000 00-0000000 288,172 288,172
Xxxxxx, XX 00000
Crestview Capital Master LLC 00 Xxxxxx Xxxxx, Xxxxx X 00-0000000 720,429 720,429
Xxxxxxxxxx XX 00000
Gryphon Master Fund, L.P. 000 Xxxxxxxx Xxxxx, Xxxxx 000 00-0000000 504,300 504,300
Xxxxxx, XX 00000
GSSF Master Fund, L.P. 000 Xxxxxxxx Xxxxx, Xxxxx 000 00-0000000 216,129 216,129
Xxxxxx, XX 00000
Jayhawk China Fund (Cayman), c/o Genesis Fund Service Limited 00-0000000 2,593,544 2,593,544
Ltd. 0000 Xxxxxxx Xxxx, Xxxxx 000
Xxxxxxx Xxxxxxx, XX 00000
Renaissance US Growth Front National Bank 1,080,643 1,080,643
Investment Trust PLC 000 X. Xxxxxxx Xxxxxx
Xxx Xxxxxxx, XX 00000
Attn: Xxxxx Xxxxxxxxx T-8
Dallas, TX [7206]
Xxxxxxx X. Xxxx 000 Xxxxxxx Xxxx Xxxx, Xxx. 00-X0 ###-##-#### 216,129 216,129
Xxx Xxxx, Xxx Xxxx 00000
Sandor Capital Master Fund, 0000 Xxxxx Xxxxxx, Xxxxx 000 00-0000000 360,214 360,214
L.P. Xxxxxx, XX 00000
Sch B-2
NUMBER OF NUMBER OF
TAX I.D. ESCROW SHARES ESCROW SHARES
NAME OF PURCHASER ADDRESS NUMBER FISCAL 2006 FISCAL 2007
----------------- ------- ------ ----------- -----------
Xxxxxxxxx Partners, L.P. 0000 Xxxxx Xxxxx Xxxxxx 00-0000000 1,260,750 1,260,750
Xxxxxx, XX 00000
Special Situations Private 000 Xxxxxxx Xxxxxx, Xxxxx 0000 00-0000000 618,128 618,128
Equity Fund, L.P. Xxx Xxxx, XX 00000
Special Situations Fund III 000 Xxxxxxx Xxxxxx, Xxxxx 0000 00-0000000 1,419,965 1,419,965
QP, L.P. Xxx Xxxx, XX 00000
Special Situations Fund III, 000 Xxxxxxx Xxxxxx, Xxxxx 0000 00-0000000 123,193 123,193
L.P. Xxx Xxxx, XX 00000
SRB Greenway Offshore 000 Xxxxxxxx Xxxxx, Xxxxx 0000 19,235 19,235
Operating Fund, L.P. Xxxxxx, XX 00000
Attn: Xxx Xxxxxxx
SRB Xxxxxxxx Capital, L.P. 000 Xxxxxxxx Xxxxx, Xxxxx 0000 00-0000000 38,399 38,399
Xxxxxx, XX 00000
Attn: Xxx Xxxxxxx
SRB Greenway Capital (QP), L.P. 000 Xxxxxxxx Xxxxx, Xxxxx 0000 00-0000000 302,580 302,580
Xxxxxx, XX 00000
Attn: Xxx Xxxxxxx
Vision Opportunity Master 000 Xxxxxxx Xxxxxx, Xxxxx 0000 00-0000000 1,296,772 1,296,772
Fund, LTD Xxx Xxxx, XX 00000
Westpark Capital, L.P. 0000 Xxxxxxx Xxxx Xxxxxxxxx, Xxxxx 000 75-294-5750 720,429 720,429
Xxxxx, XX 00000
Sch B-3
NUMBER OF NUMBER OF
TAX I.D. ESCROW SHARES ESCROW SHARES
NAME OF PURCHASER ADDRESS NUMBER FISCAL 2006 FISCAL 2007
----------------- ------- ------ ----------- -----------
WS Opportunity Fund 000 Xxxxxxxx Xxxxx, Xxxxx 0000 273,763 276,763
International, Ltd. Xxxxxx, XX 00000
Attn: Xxx Xxxxxxx
WS Opportunity Fund, L.P. 000 Xxxxxxxx Xxxxx, Xxxxx 0000 00-0000000 158,494 158,494
Xxxxxx, XX 00000
Attn: Xxx Xxxxxxx
WS Opportunity Fund (QP), L.P. 000 Xxxxxxxx Xxxxx, Xxxxx 0000 00-0000000 108,064 108,064
Xxxxxx, XX 00000
Attn: Xxx Xxxxxxx
Sch B-4
