AGREEMENT TO TRANSFER OF OPTION
AGREEMENT
THIS AGREEMENT TO TRANSFER OF OPTION AGREEMENT
(this “Agreement”) is entered into as of June 30, 2009,
by and among Hangson Limited, a British Virgin Islands company
incorporated under the laws of the British Virgin Islands (“
BVI Company ”), and Suoke Clean Energy (Tongchuan)
Co., Ltd., a limited liability company organized under the laws of
the People’s Republic of China (“ PRC ”)
and a wholly foreign owned enterprise (“ WFOE ”,
and with BVI Company collectively referred to as the “
Parties ”). Sino Clean Energy, Inc., a Nevada
corporation, is made a party to this Agreement for the sole purpose
of acknowledging the Agreement.
WHEREAS, in connection with a certain Consulting
Services Agreement dated as of August 18, 2006 (the “
Consulting Agreement ”), BVI Company entered into an
Option Agreement dated as of even date therewith (the “
Option Agreement ”) with Shaanxi Suo’ang
Biological Science & Technology Co., Ltd, a company with joint
stock limited liability organized under the laws of the PRC
(“ Biological Company ”) and certain
shareholders of Biological Company, including Biological
Company’s chairman (collectively the
“Shareholders”);
WHEREAS, BVI Company, WFOE and Biological
Company have entered into an Amendment to the Consulting Agreement
dated as of even date herewith (the “ Amendment
”), whereby BVI Company has transferred the Consulting
Agreement and assigned all of its rights and obligations thereunder
to WFOE;
WHEREAS, in connection with the Amendment, BVI
Company desires to transfer the Option Agreement, and assign all of
its rights and obligations thereunder, to WFOE, and WFOE desires to
accept such transfer and assignment;
WHEREAS, Section 4.2 of the Option Agreement
provides that BVI Company may assign its rights and obligations
under the Option Agreement at its discretion pursuant to a written
notice to Biological Company and the Shareholders, and that no
consent from Biological Company or from the Shareholders is
required for such assignment;
NOW, THEREFORE, in consideration of the
foregoing recitals and the mutual agreements herein contained and
for other good and valuable consideration, the Parties agree as
follows:
A.
TRANSFER OF THE OPTION AGREEMENT .
(1) BVI
Company hereby transfers the Option Agreement, and assigns all of
its rights and obligations thereunder, to WFOE, and WFOE hereby
accepts such transfer and assignment (collectively the
“Transfer”).
(2) In
accordance with Section 4.2 of the Option Agreement, BVI Company
shall notify Biological Company and the Shareholders of the
Transfer pursuant to a written notice, the form of which is
attached hereto as Exhibit A .
(3) WFOE
shall cooperate with BVI Company, Biological Company and the
Shareholders to take all such further actions as may be necessary
to effectuate the Transfer pursuant to this Agreement.
(1)
Notices . All notices and other communications hereunder
shall be in writing and shall be deemed to have been duly given if
delivered personally, sent by overnight courier or mailed by
registered or certified mail (postage prepaid and return receipt
requested) to the party to whom the same is so delivered, sent or
mailed at addresses set forth as follows (or at such other address
for a party as shall be specified by like notice):
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2
nd Floor, Abbott Building, Road Town
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Tortola, British Virgin Islands.
Facsimile:
Attn: Chairman