The Share Escrow and Trust AgreementEscrow and Trust Agreement • March 31st, 2011 • Kandi Technologies Corp • Motor vehicles & passenger car bodies
According to the Agreement of Establishment of of Kandi New Energy Vehicles Co., Ltd., by and between the Parties, the Parties reach the agreement on share escrow and trust as follows:
The Agreement of Establishment of Kandi New Energy Vehicles Co., Ltd.Agreement • March 31st, 2011 • Kandi Technologies Corp • Motor vehicles & passenger car bodies
According to China National Industrial Policies, foreign investment can not have more 50% of the equity of automobile manufacturing companies. In consideration of the fact that Party A has reached the capacity to sell its electronic vehicles in Chinese domestic market, in order for the Party A’s vehicles to be sold in China smoothly without violation any Chinese regulations, after careful discussion and negotiation, Parties agreed to set up Jinhua Kandi New Energy Vehicles Co., Ltd” (“Kandi New Energy”) and the agreement is as follows:
Contractor’s AgreementS Agreement • March 31st, 2011 • Kandi Technologies Corp • Motor vehicles & passenger car bodies
Considering Kandi New Energy Vehicles Co., Ltd., (“Kandi New Energy”) is a company in compliance with Chinese regulation to produce and sell vehicles in China, for the Party A’s better operation, Parties agreed to enter into this Contractor’s Agreement:
