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GUARANTY AGREEMENT
This Guaranty Agreement (the "Agreement") is
entered into as of December 15 th , 2006, between the
following two parties:
PARTY A: JILIN CITY HAITIAN BUSINESS CONSULTING CO.,
LTD.
LEGAL ADDRESS: No.1-3 South-hanyang Street,
Longtan Economic Development Zone, Jilin City, China
PARTY B: JILIN HAITIAN INDUSTRIAL COMPANY,
LTD.
LEGAL ADDRESS: No.1-3 South-hanyang Street,
Longtan Economic Development Zone, Jilin City, China
PARTY C: WANG XITIAN
LEGAL ADDRESS: No.1-3 South-hanyang Street,
Longtan Economic Development Zone, Jilin City, China
PARTY D: JILIN PROVINCE HUIZHENG VENTURE CAPITAL
CO.
LEGAL ADRESS: No.1-3 South-hanyang Street,
Longtan Economic Development Zone, Jilin City, China
WHEREAS , Party A is a wholly
foreign owned enterprise registered in The People’s Republic
of China ("PRC") under the laws of the PRC;
WHEREAS , Party B is a domestic
company with exclusively domestic capital registered in the PRC and
is engaged in the business of manufacturing chemicals
("Business");
WHEREAS , Party A has
established a business relationship with Party B by entering into
an Exclusive Business Consulting Agreement dated as of the same
date hereof ("Consulting Agreement"), an Operating Agreement dated
as of the same date hereof (the "Operating Agreement"), and a
Technology Consulting Services Agreement dated as of
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