股票认购协议

1SMARTHEATINC.SUBSCRIPTIONAGREEMENTSMARTHEATINC.公司股票认购协议ThisSubscriptionAgreementpertainstotheofferingbySmartHeatInc.(the“Company”)ofuptoTwoMillionTwoHundredEightyFiveThousandSevenHundredFourteen(2,285,714)units(the“Units”),witheachUnitconsistingofone(1)shareoftheCompany’scommonstock(the“Shares”)andwarrantstopurchasefifteenpercent(15%)ofone(1)shareoftheCompany’scommonstockatanexercisepriceofSixDollars($6.00)pershare(the“Warrants”),atapurchasepriceofThreeDollarsFiftyCents($3.50)perUnitforanaggregateofferingofaminimumofFiveMillionDollars($5,000,000)anduptoamaximumofEightMillionDollars($8,000,000)(the“Offering”)describedinthePrivatePlacementOfferingMemorandumfortheUnitsdatedMay23,2008,asthesameheretomaybeamended(theOfferingMemorandum).TheminimumsubscriptionthattheCompanywillacceptfromanyinvestorisTenThousand(10,000)UnitsforapurchasepriceofThirtyFiveThousandDollars($35,000).TheCompanyismakingthisofferingsolelytoaccreditedinvestors(asdefinedunderRule501(a)ofRegulationDpromulgatedundertheSecuritiesActof1933,asamended(the“SecuritiesAct”)).本协议旨在对SmartHeatInc.公司（以下简称“公司”）发行共计2,285,714单位有价证券（以下简称“发行单位”）的相关事宜进行约定。按照约定，每一发行单位包括一股公司普通股股票（以下简称“发行股票”）及一份权证（该权证的持有人所持有的每一份权证可以6美元的行权价格购买公司15%股的公司普通股股票，以下简称“发行权证”）；此次发行总的融资金额将按照2008年5月23日所签订的《私募发行协议》及其修订协议（以下简称“《发行协议》”）确定，为500万美元至800万美元之间；此次发行每一投资人应至少认购10000发行单位，相应的最低投资金额为35000美元。Theundersigned,intendingtobelegallybound,herebyofferstopurchasefromtheCompanythenumberofUnitsfortheaggregatepurchasepricesetforthonthesignaturepagehereto.TheCompanywillbedeemedtohaveacceptedthisofferuponexecutionbyitoftheReceiptandAcceptanceattachedtothisSubscriptionAgreement.ThissubscriptionissubmittedtotheCompanysubjecttoitsacceptanceandinaccordancewith,andsubjectto,thetermsandconditionsdescribedin,thisSubscriptionAgreement.1.Definitions.InadditiontothetermsdefinedelsewhereinthisSubscriptionAgreement,forallpurposesofthisSubscriptionAgreement,thefollowingtermsshallhavethemeaningsindicatedinthisSection1:2一、定义“Affiliate”meansanyPersonthat,directlyorindirectlythroughoneormoreintermediaries,controlsoriscontrolledbyorisundercommoncontrolwithaPerson,assuchtermsareusedinandconstruedunderRule144.“Commission”meanstheSecuritiesandExchangeCommission.“ExchangeAct”meanstheSecuritiesExchangeActof1934,asamended.“GAAP”meansU.S.generallyacceptedaccountingprinciples.“Person”meansanindividualorcorporation,partnership,trust,incorporatedorunincorporatedassociation,jointventure,limitedliabilitycompany,jointstockcompany,government(oranagencyorsubdivisionthereof)orotherentityofanykind.“SecuritiesAct”meanstheSecuritiesActof1933,asamended.“TransactionDocuments”meansthisSubscriptionAgreement,theWarrants,theRegistrationRightsAgreementandanyotherdocumentsoragreementsexecutedinconnectionwiththetransactionscontemplatedhereunder.“WarrantShares”meansthesharesofCommonStockissuableuponexerciseoftheWarrants.2.VerificationofInvestorSuitabilityunderRegulationD.TheundersignedunderstandsthatinordertosubscribefortheUnitsinthisOffering,theundersignedmustbean“accreditedinvestor”asdefinedinSection501ofRegulationDundertheSecuritiesActandtheundersignedherebyrepresentsandwarrantsthatitisan“accreditedinvestor”assuchitemisdefinedinRule501(a)promulgatedundertheSecuritiesAct.Furthermore,theCompanyunderstandsthat,asaconditiontotheCompany’sacceptanceofthissubscription,theundersignedmustcompleteaPurchaserQuestionnaireintheformattachedhereto.二、合格投资者身份声明3.AmountandMethodofPayment.ThepurchasepricefortheUnitsisThreeDollarsFiftyCents($3.50)perUnitandshallbepaidbytenderofacheckmadepayabletoSmartHeatInc.orwiretransferofimmediatelyavailablefundstothespecialsegregatedaccountsetforthonthelastpagehereof(the“SegregatedAccount”)intheamountofThreeDollarsFiftyCents($3.50)perUnitmultipliedbythenumberofUnitspurchasedbytheundersignedassetforthonthesignaturepagehereof(the“PurchasePrice”).AllproceedsofthisOfferingwillbedepositedintheSegregatedAccountandwillnotbereleasedtotheCompanyuntilgrossproceedsofatleastFiveMillionDollars($5,000,000)havebeendepositedintotheSegregatedAccount.IfthisamountisnotreceivedbeforeJuly31,2008,assuchdatemaybeextendedasprovidedintheOfferingMemorandum,thenthePurchasePriceshallbereturnedtotheundersignedinfullwithoutinterestunlesstheCompanydetermines,initssolediscretion,toextendtheofferingperiod.AffiliatesofplacementagentsandtheCompanymaypurchaseUnitsfortheirownaccount.3SuchpurchaseswillbeincludedindeterminingwhethertheminimumamountofthisOfferinghasbeensold.三、认购金额及支付方式此次发行每一认购单位的发行价格为3.5美元，支付方式为支票或者电汇。4.AcceptanceofSubscription.四、认购的接受(a)TheundersignedunderstandsandagreesthattheCompany,initssolediscretion,reservestherighttoacceptorrejectthisoranyothersubscriptionforUnitsinwholeorinpartatanytimepriortotheClosing(asdefinedbelow).（一）投资人知悉并同意，在此次发行完成前，公司有权自行决定接受或拒绝投资人的认购；(b)Intheeventthatthissubscriptionisrejectedinwholeorinpart,theCompanyshallpromptlyreturnallortheapplicableportionofthePurchasePricewithoutinteresttotheundersigned,asthecasemaybe,andthisSubscriptionAgreementshallthereafterhavenoforceoreffectexceptwithrespecttotheportion,ifany,ofthissubscr