SHARE AND WARRANT CANCELLATION AGREEMENT

Exhibit 10.2

THIS (this “Agreement”) is made and entered into as of this 15th day of January, 2010, by and between SRKP 22, Inc., a Delaware corporation (“SRKP 22”), and the stockholders of SRKP 22, as set forth on Schedule I attached hereto (such stockholders are collectively referred to herein as the “Stockholders”). Capitalized terms used herein and not otherwise defined herein shall have the meanings ascribed to them in the Exchange Agreement (as hereinafter defined).

RECITALS

WHEREAS, SRKP 22 entered into a Share Exchange Agreement on October 20, 2009, as amended on November 25, 2009 and January 15,, 2010 (the “Exchange Agreement”), with China Intelligent Electronic Holding Limited, a British Virgin Islands Corporation (“China Intelligent”) and the sole shareholder of China Intelligent, Xx Xxxxxx ("Xxxxxx"), a copy of which is attached hereto as Exhibit A;

WHEREAS, pursuant to the terms of the Exchange Agreement, and as a condition to the completion of the transactions contemplated by the Exchange Agreement, SRKP 22 agreed to enter into an agreement with the Stockholders to cancel (i) an aggregate of 4,260,390 shares of SRKP 22 common stock held by such Stockholders (the “Shares”), as such Shares are more particularly set forth on Schedule I attached hereto, and (ii) an aggregate of 5,515,682 warrants to purchase shares of SRKP 22 common stock held by such Stockholders (the “Warrants”), as such Warrants are more particularly set forth on Schedule II attached hereto; and

WHEREAS, the Stockholders acknowledge that they would benefit from the completion of the transactions contemplated by the Exchange Agreement.

NOW, THEREFORE, for and in consideration of the execution and delivery of the Exchange Agreement, and the payment of good and valuable consideration pursuant to the Exchange Agreement, the receipt and sufficiency of which is hereby acknowledged, SRKP 22 and the Stockholders, each intending to be legally bound by this Agreement, hereby agree as follows:

AGREEMENT

1. DUTIES

1.1 Rights and Obligations of the Parties. The parties shall be entitled to such rights and shall perform such duties as set forth herein. In the event that the terms of this Agreement conflict in any way with the provisions of the Exchange Agreement, the Exchange Agreement shall control.

1.2 Cancellation of Shares and Warrants. On the Closing Date of the Exchange Agreement, the Shares and the Warrants shall be deemed automatically cancelled. The Stockholders agree to execute any and all documents, including, but not limited to, stock powers for the stock certificates representing the Shares, as SRKP 22 reasonably determines necessary to effect the cancellation of the Shares and the Warrants pursuant to the terms of this Agreement.

2. DIVIDENDS; VOTING RIGHTS; STOCK SPLITS

2.1 Cash Dividends; Voting Rights. Prior to the Closing of the Exchange Agreement, the Stockholders shall have rights to cash or stock dividends with respect to the Shares and the Warrants, if any, and have rights to vote their respective Shares, if any such matter requiring stockholder approval shall arise.

2.2 Stock Splits; Stock Dividends. In the event of any stock split or other similar transaction with respect to SRKP 22 common stock that becomes effective prior to the Closing of the Exchange Agreement, the additional shares or warrants issued with respect to the Shares or the Warrants shall be similarly cancelled.

3. MISCELLANEOUS

3.1 Transferability. None of the rights and obligations of the Stockholders hereunder shall be transferable.

3.2 Notices. Any notices or other communications required or permitted under this Agreement shall be in writing and shall be sufficiently given if sent by (i) registered or certified mail, postage prepaid, addressed as follows, (ii) facsimile to the facsimile numbers identified below or (iii) overnight courier (such as UPS or FedEx), addressed as follows:

If to SRKP 22:

SRKP 22, Inc.

0000 Xxxxx Xxxxx Xxxxx, Xxxxx 000

Lauderdale by the Xxx, XX 00000

Attention: Xxxxxxx Xxxxxxxxx

Telecopy No.: (000) 000-0000

If to the Stockholders:

to the address set forth next to the name of each of the Stockholders in Schedule I

or such other person or address as shall be furnished in writing by any of the parties and any such notice or communication shall be deemed to have been given as of the date so mailed.

3.3 Construction. The validity, enforcement and construction of this Agreement shall be governed by the laws of the State of Delaware, regardless of the laws that might otherwise govern under applicable principles of conflicts of laws thereof.

3.4 Binding Effect. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective heirs, legatees, assigns and transferees, as the case may be.

3.5 Severability. If any provision or section of this Agreement is determined to be void or otherwise unenforceable, it shall not affect the validity or enforceability of any other provisions of this Agreement which shall remain enforceable in accordance with their terms.

3.6 Interpretation. The headings and subheadings contained in this Agreement are for reference only and for the benefit of the parties and shall not be considered in the interpretation or construction of this Agreement. This Agreement shall be construed and interpreted without regard to any rule or presumption requiring that it be construed or interpreted against the party causing it to be drafted.

3.7 Execution in Counterparts. This Agreement may be executed in any number of counterparts (including facsimile counterparts), each of which shall be deemed to be an original, but all of which together shall constitute one and the same instrument.

3.8 Amendments. This Agreement may be amended from time to time but only by written agreement signed by all of the parties hereto.

3.9 Entire Agreement. This Agreement constitutes the entire understanding and agreement of the parties relating to the subject matter hereof and supersedes any and all prior understandings, agreements, negotiations and discussions, both written and oral, between the parties hereto with respect to the subject matter hereof.

[Signatures appear on following page]

IN WITNESS WHEREOF, the parties have executed this as of the day and year first above written.

SRKP 22, INC.

By:	/s/ Xxxxxxx Xxxxxxxxx
Name: Xxxxxxx Xxxxxxxxx
Title: President

STOCKHOLDERS

/s/ Xxxxxx Xxxxxxxxxxxx		/s/ Xxxxxxx Xxxxxxxxxxxx
Xxxxxx Xxxxxxxxxxxx		Xxxxxxx Xxxxxxxxxxxx

/s/ Xxxxxx Xxxxxxxxxxxx		/s/ Xxxxxxx Xxxxxxxxx
The Xxxxx Xxxxxxxxxxxx Trust dated 2/9/2000		Xxxxxx Xxxxxxxxx Trust
By: Xxxxxx Xxxxxxxxxxxx		By: Xxxxxxx Xxxxxxxxx
Its: Trustee		Its: Trustee

Xxxxxx Xxxxxxxxxxxx		Xxxxxxx Xxxxxxxxx
The Xxxxx X. Xxxxxxxx Trust dated 2/3/2000		Xxxxxx Xxxxxxxxx Trust
By: Xxxxxx Xxxxxxxxxxxx		By: Xxxxxxx Xxxxxxxxx
Its: Trustee		Its: Trustee

/s/ Xxxxxx Xxxxxx		/s/ Xxxxx XxXxxxxx
Xxxxxx Xxxxxx		Xxxxx XxXxxxxx

/s/ Xxxxxxx Xxxxxxxxx		/s/ Xxxxx Xxxxx
WestPark Capital Financial Services, LLC		Xxxxx Xxxxx
By: Xxxxxxx Xxxxxxxxx
Its: Chief Executive Officer

/s/ Xxxxxxx Xxxxxxxxx
Xxxxxxx Xxxxxxxxx

Schedule I

Stockholders of SRKP 22, Inc.

	Stockholder	Shares to be cancelled per the terms of this Agreement		Pre-Closing Shares		Post-Closing Shares
1.	Xxxxxx Xxxxxxxxxxxx 000 0xx Xxxxxx, Xxx 00X Xxx Xxxx, XX 00000		741,277		1,000,000		258,723

2.	Xxxxxx Xxxxxx 000 Xxxxxxxxx, Xxxxx 0000 Xxxx Xxxxx, XX 00000-0000		184,114		248,374		64,260

3.	WestPark Capital Financial Services, LLC 0000 Xxxxxx xx xxx Xxxxx, Xxxxx 000 Xxx Xxxxxxx, XX 00000		1,056,287		2,773,979		1,717,692

4.	Xxxxxxx Xxxxxxxxx 0000 Xxxxxx xx xxx Xxxxx, Xxxxx 000 Xxx Xxxxxxx, XX 00000		841,661		1,135,420		293,759

5.	Xxxxxxx Xxxxxxxxxxxx c/o SRKP 22, Inc. 0000 Xxxxx Xxxxx Xxxxx, Xxxxx 000 Lauderdale by the Xxx, XX 00000		526,039		709,639		183,600

6.	Xxxxxx Xxxxxxxxx Trust 0000 Xxxxxx xx xxx Xxxxx, Xxxxx 000 Xxx Xxxxxxx, XX 00000		236,718		319,338		82,620

7.	Xxxxxx Xxxxxxxxx Trust 0000 Xxxxxx xx xxx Xxxxx, Xxxxx 000 Xxx Xxxxxxx, XX 00000		236,718		319,338		82,620

8.	Xxxxx XxXxxxxx 0000 Xxxxxx xx xxx Xxxxx, Xxxxx 000 Xxx Xxxxxxx, XX 00000		184,114		248,374		64,260

9.	Xxxxx Xxxxx 0000 Xxxxxx xx xxx Xxxxx, Xxxxx 000 Xxx Xxxxxxx, XX 00000		105,206		141,928		36,722

10.	The Xxxxx Xxxxxxxxxxxx Trust dated 2/9/2000 000 0xx Xxxxxx, Xxx 00X Xxx Xxxx, XX 00000		74,128		100,000		25,872

11.	The Xxxxx X. Xxxxxxxx Trust dated 2/3/2000 000 0xx Xxxxxx, Xxx 00X Xxx Xxxx, XX 00000		74,128		100,000		25,872

			4,260,390		7,096,390		2,836,000

Schedule II

Warrantholders of SRKP 22, Inc.

	Warrantholder	Warrants to be cancelled per the terms of this Agreement		Pre-Closing Warrants		Post-Closing Warrants
1.	Xxxxxx Xxxxxxxxxxxx 000 0xx Xxxxxx, Xxx 00X Xxx Xxxx, XX 00000		918,169		1,000,000		81,831

2.	Xxxxxx Xxxxxx 000 Xxxxxxxxx, Xxxxx 0000 Xxxx Xxxxx, XX 00000-0000		228,049		248,374		20,325

3.	WestPark Financial Services, LLC 0000 Xxxxxx xx xxx Xxxxx, Xxxxx 000 Xxx Xxxxxxx, XX 00000		1,546,980		2,773,979		1,226,999

4.	Xxxxxxx Xxxxxxxxx 0000 Xxxxxx xx xxx Xxxxx, Xxxxx 000 Xxx Xxxxxxx, XX 00000		1,042,507		1,135,420		92,913

5.	Xxxxxxx Xxxxxxxxxxxx c/o SRKP 22, Inc. 0000 Xxxxx Xxxxx Xxxxx, Xxxxx 000 Lauderdale by the Xxx, XX 00000		651,568		709,639		58,071

6.	Xxxxxx Xxxxxxxxx Trust 0000 Xxxxxx xx xxx Xxxxx, Xxxxx 000 Xxx Xxxxxxx, XX 00000		293,206		319,338		26,132

7.	Xxxxxx Xxxxxxxxx Trust 0000 Xxxxxx xx xxx Xxxxx, Xxxxx 000 Xxx Xxxxxxx, XX 00000		293,206		319,338		26,132

8.	Xxxxx XxXxxxxx 0000 Xxxxxx xx xxx Xxxxx, Xxxxx 000 Xxx Xxxxxxx, XX 00000		228,049		248,374		20,325

9.	Xxxxx Xxxxx 0000 Xxxxxx xx xxx Xxxxx, Xxxxx 000 Xxx Xxxxxxx, XX 00000		130,314		141,928		11,614

10.	The Xxxxx Xxxxxxxxxxxx Trust dated 2/9/2000 000 0xx Xxxxxx, Xxx 00X Xxx Xxxx, XX 00000		91,817		100,000		8,183

11.	The Xxxxx X. Xxxxxxxx Trust dated 2/3/2000 000 0xx Xxxxxx, Xxx 00X Xxx Xxxx, XX 00000		91,817		100,000		8,183

			5,515,682		7,096,390		1,580,708

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SHARE AND WARRANT CANCELLATION AGREEMENT

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