UQM TECHNOLOGIES INC
EXHIBIT 10.22
<DOCUMENT>
<TYPE>EX-10
<SEQUENCE>12
<FILENAME>exhibit1022.htm
<DESCRIPTION>EXHIBIT 10.22
<TEXT>
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<title>Exhibit 10</title>
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<table CELLSPACING="0" BORDER="0" CELLPADDING="7" WIDTH="654">
  <tr>
    <td VALIGN="TOP" COLSPAN="5"><font SIZE="2"><b><p ALIGN="RIGHT">Exhibit 10.22</b></font></td>
  </tr>
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    <td VALIGN="TOP" COLSPAN="5"></td>
  </tr>
  <tr>
    <td VALIGN="TOP" COLSPAN="5"><font SIZE="2"><b><p ALIGN="CENTER">Share Purchase Agreement</b></font></td>
  </tr>
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    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="97%" VALIGN="TOP" COLSPAN="4"></td>
  </tr>
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    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="97%" VALIGN="TOP" COLSPAN="4" ROWSPAN="6"><font SIZE="2"><p ALIGN="JUSTIFY">This
    Agreement is entered into on the 13th of February 2004 by and between <b>UQM Technologies,
    Inc</b>., a company duly organized and existing under the laws of United States with its
    principal place of business at 7501 Miller Drive, P.O. Box 439, Frederick, Colorado 80530,
    U.S.A. (hereinafter referred to as &quot;Seller&quot;) and <b>LEE, Chi-Cheng</b>,</p>
    <p ALIGN="JUSTIFY">3F, 1, Alley 28, Lane 430, Yanping Rd., Sec. 2, Pingjen City, Taoyuan,
    Taiwan 324 R.O.C. (hereinafter referred to as &quot;Buyer&quot;). The Buyer and the Seller
    are hereinafter individually referred to as the &quot;Party&quot;, and collectively
    referred to as &quot;Parties&quot;.</font></td>
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    <td WIDTH="3%" VALIGN="TOP"></td>
  </tr>
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  </tr>
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  </tr>
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    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="97%" VALIGN="TOP" COLSPAN="4"></td>
  </tr>
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    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="97%" VALIGN="TOP" COLSPAN="4"><font SIZE="2"><p ALIGN="JUSTIFY">Whereas the
    Seller holds 7,605,000 shares in Taiwan UQM Electric Co., Ltd., a corporation duly
    organized and existing under the laws of R.O.C., having its registered office at No.1,
    Ta-Tung 1 Rd., Kuan-Yin Ind. Park, Tao-Yuan Hsien, Taiwan, R.O.C. (hereinafter referred to
    as &quot;COMPANY&quot;),</font></td>
  </tr>
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    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="97%" VALIGN="TOP" COLSPAN="4"></td>
  </tr>
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    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="97%" VALIGN="TOP" COLSPAN="4"><font SIZE="2"><p ALIGN="JUSTIFY">Whereas the
    Seller wants to sell 7,605,000 (in words: seven million six hundred five thousand) of his
    shares in the COMPANY (the &quot;SHARES&quot;) to the Buyer and the Buyer is willing to
    buy the SHARES from the Seller.</font></td>
  </tr>
  <tr>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="97%" VALIGN="TOP" COLSPAN="4"></td>
  </tr>
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    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="97%" VALIGN="TOP" COLSPAN="4"><font SIZE="2">Now therefore the Parties agree as
    follows:</font></td>
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    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="97%" VALIGN="TOP" COLSPAN="4"></td>
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    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="6%" VALIGN="TOP"><font SIZE="2"><b><p ALIGN="RIGHT">1.</b></font></td>
    <td WIDTH="92%" VALIGN="TOP" COLSPAN="3"><font SIZE="2"><b>Sale and Transfer of SHARES</b></font></td>
  </tr>
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    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="97%" VALIGN="TOP" COLSPAN="4"></td>
  </tr>
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    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="6%" VALIGN="TOP"><font SIZE="2"><b><p ALIGN="RIGHT">1.1</b></font></td>
    <td WIDTH="92%" VALIGN="TOP" COLSPAN="3"><font SIZE="2"><p ALIGN="JUSTIFY">The Seller
    hereby sells to the Buyer and the Buyer hereby buys the SHARES from the seller.</font></td>
  </tr>
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    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="97%" VALIGN="TOP" COLSPAN="4"></td>
  </tr>
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    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="6%" VALIGN="TOP"><font SIZE="2"><b><p ALIGN="RIGHT">1.2</b></font></td>
    <td WIDTH="92%" VALIGN="TOP" COLSPAN="3"><font SIZE="2"><p ALIGN="JUSTIFY">The purchase
    price for the SHARES shall be 2.00 NTD/share (in words: two New Taiwan Dollars Per share),
    in total 15,210,000 NTD (in words: fifteen million two hundred ten thousand New Taiwan
    Dollars) (the &quot;Purchase Price&quot;).</font></td>
  </tr>
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    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="97%" VALIGN="TOP" COLSPAN="4"></td>
  </tr>
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    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="6%" VALIGN="TOP"></td>
    <td WIDTH="92%" VALIGN="TOP" COLSPAN="3"><font SIZE="2">The Purchase Price shall be paid
    according to section 2 hereof.</font></td>
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    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="6%" VALIGN="TOP"></td>
    <td WIDTH="92%" VALIGN="TOP" COLSPAN="3"></td>
  </tr>
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    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="6%" VALIGN="TOP"><font SIZE="2"><b><p ALIGN="RIGHT">1.3</b></font></td>
    <td WIDTH="92%" VALIGN="TOP" COLSPAN="3"><font SIZE="2"><p ALIGN="JUSTIFY">Within two (2)
    days after the execution of this Agreement, the Buyer shall remit the amount in US dollars
    equivalent to the amount of 330,000 NTD. (in words: three hundred and thirty thousand New
    Taiwan Dollars) (the &quot;Earnest Money&quot;) into the Seller's bank account as beneath.
    In the event that the Closing (as defined below) is not completed for any reasons other
    than the Seller's refusal to complete the Closing, the Buyer agrees that the Earnest Money
    shall be forfeited in full by the Seller, and this represents a reasonable penalty for the
    Buyer's failure to fulfill its obligation under this Agreement. In the event that the
    Closing takes place in accordance with this Agreement, the Earnest Money shall be applied
    to the Purchase Price, and the amount of the Proceeds (as defined below) to be remitted by
    the Buyer to the Seller at the Closing Date (as defined below) shall be reduced by the
    amount of the Earnest Money.</font></td>
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    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="6%" VALIGN="TOP"></td>
    <td WIDTH="92%" VALIGN="TOP" COLSPAN="3"></td>
  </tr>
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    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="6%" VALIGN="TOP"><font SIZE="2"><b><p ALIGN="RIGHT">2.</b></font></td>
    <td WIDTH="92%" VALIGN="TOP" COLSPAN="3"><font SIZE="2"><b>Closing</b></font></td>
  </tr>
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    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="6%" VALIGN="TOP"></td>
    <td WIDTH="92%" VALIGN="TOP" COLSPAN="3"></td>
  </tr>
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    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="6%" VALIGN="TOP"></td>
    <td WIDTH="92%" VALIGN="TOP" COLSPAN="3"><font SIZE="2"><p ALIGN="JUSTIFY">The Seller and
    Buyer agree that within ten (10) days after the date of this Agreement the closing of this
    transaction (the &quot;Closing&quot;) shall take place at the office of Jones Day in
    Taipei at the date agreed by the Parties thereafter (the &quot;Closing Date&quot;). At the
    Closing Date, the Buyer shall remit the amount in US dollars equivalent to the amount of
    15,164,370 NTD (in words: fifteen million one hundred sixty four thousand three hundred
    seventy New Taiwan Dollars) (the &quot;Proceeds&quot;, 99.7% of the Purchase Price) into
    the Seller's bank account as beneath. The US dollars to be remitted will be determined by
    the prevailing market rate for the sale of New Taiwan Dollars and purchase of US Dollars
    as quoted by Macoto Bank on the Closing Date</font></td>
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    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="6%" VALIGN="TOP"></td>
    <td WIDTH="92%" VALIGN="TOP" COLSPAN="3"></td>
  </tr>
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    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="6%" VALIGN="TOP"></td>
    <td WIDTH="92%" VALIGN="TOP" COLSPAN="3"><font SIZE="2"><p ALIGN="CENTER">Union Colony
    Bank</font></td>
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    <td WIDTH="6%" VALIGN="TOP"></td>
    <td WIDTH="92%" VALIGN="TOP" COLSPAN="3"><font SIZE="2"><p ALIGN="CENTER">ABA 107003353</font></td>
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    <td WIDTH="6%" VALIGN="TOP"></td>
    <td WIDTH="92%" VALIGN="TOP" COLSPAN="3"><font SIZE="2"><p ALIGN="CENTER">Acct 30-65934</font></td>
  </tr>
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    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="6%" VALIGN="TOP"></td>
    <td WIDTH="92%" VALIGN="TOP" COLSPAN="3"><font SIZE="2"><p ALIGN="CENTER">For the further
    credit of UQM Technologies, Inc.</font></td>
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    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="6%" VALIGN="TOP"></td>
    <td WIDTH="92%" VALIGN="TOP" COLSPAN="3"></td>
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    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="6%" VALIGN="TOP"><font SIZE="2"><b><p ALIGN="RIGHT">2.1</b></font></td>
    <td WIDTH="92%" VALIGN="TOP" COLSPAN="3"><font SIZE="2">At the Closing:</font></td>
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    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="6%" VALIGN="TOP"></td>
    <td WIDTH="92%" VALIGN="TOP" COLSPAN="3"></td>
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    <td WIDTH="6%" VALIGN="TOP"></td>
    <td WIDTH="6%" VALIGN="TOP"><font SIZE="2"><b><p ALIGN="RIGHT">(a)</b></font></td>
    <td WIDTH="86%" VALIGN="TOP" COLSPAN="2"><font SIZE="2">The Buyer shall deliver the
    certificate issued by the Buyer's bank acknowledging and certifying that </font></td>
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    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="6%" VALIGN="TOP"></td>
    <td WIDTH="92%" VALIGN="TOP" COLSPAN="3"><font SIZE="2"><p ALIGN="JUSTIFY">the proceeds
    has been transferred into the aforementioned Seller's bank account and will be allocated
    to the purchase of the SHARES and present the payment receipt of the Securities
    Transaction Tax.</font></td>
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    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="6%" VALIGN="TOP"></td>
    <td WIDTH="92%" VALIGN="TOP" COLSPAN="3"></td>
  </tr>
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    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="6%" VALIGN="TOP"></td>
    <td WIDTH="6%" VALIGN="TOP"><font SIZE="2"><b><p ALIGN="RIGHT">(b)</b></font></td>
    <td WIDTH="86%" VALIGN="TOP" COLSPAN="2"><font SIZE="2"><p ALIGN="JUSTIFY">The Seller
    shall deliver share certificates representing the SHARES to the Buyer along with all </font></td>
  </tr>
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    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="6%" VALIGN="TOP"></td>
    <td WIDTH="92%" VALIGN="TOP" COLSPAN="3"><font SIZE="2"><p ALIGN="JUSTIFY">relevant share
    transfer documents which are required under the laws of the Taiwan, R.O.C. in order to
    effect a transfer of shares in a company incorporated in the Taiwan, R.O.C. Such share
    certificates shall be duly endorsed by the Seller to the Buyer at the time of delivery.</font></td>
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    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="6%" VALIGN="TOP"></td>
    <td WIDTH="92%" VALIGN="TOP" COLSPAN="3"></td>
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    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="6%" VALIGN="TOP"><font SIZE="2"><b><p ALIGN="RIGHT">2.2</b></font></td>
    <td WIDTH="92%" VALIGN="TOP" COLSPAN="3"><font SIZE="2">On the Closing Date, the Buyer
    shall remit the amount of 45,630 NTD (in words: forty five thousand six </font></td>
  </tr>
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    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="6%" VALIGN="TOP"></td>
    <td WIDTH="92%" VALIGN="TOP" COLSPAN="3"><font SIZE="2"><p ALIGN="JUSTIFY">hundred thirty
    New Taiwan Dollars) for the Securities Transaction Tax (0.3% of the &quot;Purchase
    Price&quot;) to the relevant authority on request of said authority. The Seller shall
    assist the Buyer to effect the registration of the transfer of the SHARES with the COMPANY
    promptly after the Closing Date of the SHARES</font></td>
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    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="6%" VALIGN="TOP"></td>
    <td WIDTH="92%" VALIGN="TOP" COLSPAN="3"></td>
  </tr>
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    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="6%" VALIGN="TOP"><font SIZE="2"><b><p ALIGN="RIGHT">3.</b></font></td>
    <td WIDTH="92%" VALIGN="TOP" COLSPAN="3"><font SIZE="2"><b>Seller's Warranties</b></font></td>
  </tr>
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    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="6%" VALIGN="TOP"></td>
    <td WIDTH="92%" VALIGN="TOP" COLSPAN="3"></td>
  </tr>
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    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="6%" VALIGN="TOP"></td>
    <td WIDTH="92%" VALIGN="TOP" COLSPAN="3"><font SIZE="2"><p ALIGN="JUSTIFY">The Seller
    warrants that he is the lawful owner of the SHARES, that the SHARES are fully paid up and
    not pledged or otherwise used as a security for third parties, that no third parties have
    any legitimate claim against the SHARES and that the transfer of the SHARES and
    performance of any other obligations under this Agreement will not contravene any
    agreements between the Seller and any third parties</font></td>
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    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="6%" VALIGN="TOP"></td>
    <td WIDTH="92%" VALIGN="TOP" COLSPAN="3"></td>
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    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="6%" VALIGN="TOP"><font SIZE="2"><b><p ALIGN="RIGHT">4.</b></font></td>
    <td WIDTH="92%" VALIGN="TOP" COLSPAN="3"><font SIZE="2"><b>Buyer's Warranties</b></font></td>
  </tr>
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    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="6%" VALIGN="TOP"></td>
    <td WIDTH="92%" VALIGN="TOP" COLSPAN="3"></td>
  </tr>
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    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="6%" VALIGN="TOP"></td>
    <td WIDTH="92%" VALIGN="TOP" COLSPAN="3"><font SIZE="2"><p ALIGN="JUSTIFY">The Buyer
    represents and warrants to the Seller that he has full power and authority to enter into
    this Agreement, and to perform the terms, conditions and obligations hereof. The
    execution, delivery and performance of this Agreement does not, and</font></td>
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    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="6%" VALIGN="TOP"></td>
    <td WIDTH="92%" VALIGN="TOP" COLSPAN="3"></td>
  </tr>
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    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="6%" VALIGN="TOP"></td>
    <td WIDTH="92%" VALIGN="TOP" COLSPAN="3"><font SIZE="2"><p ALIGN="JUSTIFY">the purchase of
    the SHARES by the Buyer, will not, violate any provision of any existing law, or any
    agreement or instrument of the Buyer or by which the Buyer may be bound. This Agreement
    constitutes the valid and legally binding obligation of the Buyer enforceable in
    accordance with its terms.</font></td>
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    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="6%" VALIGN="TOP"></td>
    <td WIDTH="92%" VALIGN="TOP" COLSPAN="3"></td>
  </tr>
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    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="6%" VALIGN="TOP"><font SIZE="2"><b><p ALIGN="RIGHT">5.</b></font></td>
    <td WIDTH="92%" VALIGN="TOP" COLSPAN="3"><font SIZE="2"><b><p ALIGN="JUSTIFY">Miscellaneous</b></font></td>
  </tr>
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    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="6%" VALIGN="TOP"></td>
    <td WIDTH="92%" VALIGN="TOP" COLSPAN="3"></td>
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    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="6%" VALIGN="TOP"><font SIZE="2"><b><p ALIGN="RIGHT">5.1</b></font></td>
    <td WIDTH="92%" VALIGN="TOP" COLSPAN="3"><font SIZE="2"><p ALIGN="JUSTIFY">Taxes, Fees and
    Expenses</font></td>
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    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="6%" VALIGN="TOP"></td>
    <td WIDTH="92%" VALIGN="TOP" COLSPAN="3"></td>
  </tr>
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    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="6%" VALIGN="TOP"></td>
    <td WIDTH="92%" VALIGN="TOP" COLSPAN="3"><font SIZE="2"><p ALIGN="JUSTIFY">Unless
    otherwise agreed by the Parties in this Agreement, Each Party shall bear its own taxes,
    fees and expenses incurred in connection with this transaction</font></td>
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    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="6%" VALIGN="TOP"></td>
    <td WIDTH="92%" VALIGN="TOP" COLSPAN="3"></td>
  </tr>
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    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="6%" VALIGN="TOP"><font SIZE="2"><b><p ALIGN="RIGHT">5.2</b></font></td>
    <td WIDTH="92%" VALIGN="TOP" COLSPAN="3"><font SIZE="2"><p ALIGN="JUSTIFY">Notices.</font></td>
  </tr>
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    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="6%" VALIGN="TOP"></td>
    <td WIDTH="92%" VALIGN="TOP" COLSPAN="3"></td>
  </tr>
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    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="6%" VALIGN="TOP"></td>
    <td WIDTH="92%" VALIGN="TOP" COLSPAN="3"><font SIZE="2"><p ALIGN="JUSTIFY">Any notice
    given hereunder shall be in writing and may be delivered personally with written
    acknowledgment of receipt, or may be sent by facsimile with a confirming copy sent by
    registered airmail, postage prepaid, or by registered airmail, postage prepaid and return
    receipt requested, addressed as follows:</font></td>
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    <td WIDTH="92%" VALIGN="TOP" COLSPAN="3"></td>
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    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="6%" VALIGN="TOP"></td>
    <td WIDTH="6%" VALIGN="TOP"><font SIZE="2"><p ALIGN="RIGHT">(a)</font></td>
    <td WIDTH="86%" VALIGN="TOP" COLSPAN="2"><font SIZE="2"><p ALIGN="JUSTIFY">If to the
    Seller:</font></td>
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    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="6%" VALIGN="TOP"></td>
    <td WIDTH="92%" VALIGN="TOP" COLSPAN="3"></td>
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    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="6%" VALIGN="TOP"></td>
    <td WIDTH="92%" VALIGN="TOP" COLSPAN="3"><font SIZE="2"><p ALIGN="CENTER">7501 Miller
    Drive, P.O. Box 439</p>
    <p ALIGN="CENTER">Frederick, Colorado 80530</p>
    <p ALIGN="CENTER">Fax: 303-278- 7007</font></td>
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    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="6%" VALIGN="TOP"></td>
    <td WIDTH="6%" VALIGN="TOP"><font SIZE="2"><p ALIGN="RIGHT">(b)</font></td>
    <td WIDTH="86%" VALIGN="TOP" COLSPAN="2"><font SIZE="2"><p ALIGN="JUSTIFY">) If to the
    Buyer:</font></td>
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    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="6%" VALIGN="TOP"></td>
    <td WIDTH="92%" VALIGN="TOP" COLSPAN="3"></td>
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    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="6%" VALIGN="TOP"></td>
    <td WIDTH="92%" VALIGN="TOP" COLSPAN="3"><font SIZE="2"><p ALIGN="CENTER">3F, 1, Alley 28,
    Lane 430, Yanping Rd., Sec. 2,</p>
    <p ALIGN="CENTER">Pingjen City, Taoyuan, Taiwan 324 R.O.C.</p>
    <p ALIGN="CENTER">Fax: 866-2-2776-1937</font></td>
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    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="6%" VALIGN="TOP"></td>
    <td WIDTH="92%" VALIGN="TOP" COLSPAN="3"></td>
  </tr>
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    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="6%" VALIGN="TOP"></td>
    <td WIDTH="92%" VALIGN="TOP" COLSPAN="3"><font SIZE="2"><p ALIGN="JUSTIFY">or to such
    other address as either Party may have furnished in writing to the other party in the
    manner provided above.</font></td>
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    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="6%" VALIGN="TOP"></td>
    <td WIDTH="92%" VALIGN="TOP" COLSPAN="3"></td>
  </tr>
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    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="6%" VALIGN="TOP"><font SIZE="2"><b><p ALIGN="RIGHT">5.3</b></font></td>
    <td WIDTH="92%" VALIGN="TOP" COLSPAN="3"><font SIZE="2"><p ALIGN="JUSTIFY">Governing Law</font></td>
  </tr>
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    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="6%" VALIGN="TOP"></td>
    <td WIDTH="92%" VALIGN="TOP" COLSPAN="3"></td>
  </tr>
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    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="6%" VALIGN="TOP"></td>
    <td WIDTH="92%" VALIGN="TOP" COLSPAN="3"><font SIZE="2"><p ALIGN="JUSTIFY">This Agreement
    and the rights and obligations of the Parties hereunder shall be governed by and construed
    in accordance with the laws of the Taiwan, R.O.C.</font></td>
  </tr>
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    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="6%" VALIGN="TOP"></td>
    <td WIDTH="92%" VALIGN="TOP" COLSPAN="3"></td>
  </tr>
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    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="6%" VALIGN="TOP"><font SIZE="2"><b><p ALIGN="RIGHT">5.4</b></font></td>
    <td WIDTH="92%" VALIGN="TOP" COLSPAN="3"><font SIZE="2"><p ALIGN="JUSTIFY">Dispute
    Settlement</font></td>
  </tr>
  <tr>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="6%" VALIGN="TOP"></td>
    <td WIDTH="92%" VALIGN="TOP" COLSPAN="3"></td>
  </tr>
  <tr>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="6%" VALIGN="TOP"></td>
    <td WIDTH="92%" VALIGN="TOP" COLSPAN="3"><font SIZE="2"><p ALIGN="JUSTIFY">In the event of
    a dispute arising out of, or relating to, this Agreement, or any modification or extension
    thereof, the Parties hereto shall negotiate in good faith to resolve such dispute. In the
    event that the Parties are unable to resolve the dispute through negotiations within 30
    days after such dispute arises, both Parties agree that Taipei District Court has the
    exclusive jurisdiction of first instance to settle such dispute.</font></td>
  </tr>
  <tr>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="6%" VALIGN="TOP"></td>
    <td WIDTH="92%" VALIGN="TOP" COLSPAN="3"></td>
  </tr>
  <tr>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="6%" VALIGN="TOP"><font SIZE="2"><b><p ALIGN="RIGHT">5.5</b></font></td>
    <td WIDTH="92%" VALIGN="TOP" COLSPAN="3"><font SIZE="2"><p ALIGN="JUSTIFY">Captions</font></td>
  </tr>
  <tr>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="6%" VALIGN="TOP"></td>
    <td WIDTH="92%" VALIGN="TOP" COLSPAN="3"></td>
  </tr>
  <tr>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="6%" VALIGN="TOP"></td>
    <td WIDTH="92%" VALIGN="TOP" COLSPAN="3"><font SIZE="2"><p ALIGN="JUSTIFY">The captions
    used in this Agreement are for convenience only and shall not be considered a part of or
    affect the construction or interpretation of any provision of this Agreement.</font></td>
  </tr>
  <tr>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="6%" VALIGN="TOP"></td>
    <td WIDTH="92%" VALIGN="TOP" COLSPAN="3"></td>
  </tr>
  <tr>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="6%" VALIGN="TOP"><font SIZE="2"><b><p ALIGN="RIGHT">5.6</b></font></td>
    <td WIDTH="92%" VALIGN="TOP" COLSPAN="3"><font SIZE="2"><p ALIGN="JUSTIFY">Counterparts</font></td>
  </tr>
  <tr>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="6%" VALIGN="TOP"></td>
    <td WIDTH="6%" VALIGN="TOP"></td>
    <td WIDTH="86%" VALIGN="TOP" COLSPAN="2"></td>
  </tr>
  <tr>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="6%" VALIGN="TOP"></td>
    <td WIDTH="92%" VALIGN="TOP" COLSPAN="3"><font SIZE="2"><p ALIGN="JUSTIFY">This Agreement
    may be executed in any number of counterparts, each of which shall constitute an original
    hereof, but all of which together shall constitute one agreement.</font></td>
  </tr>
  <tr>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="6%" VALIGN="TOP"></td>
    <td WIDTH="6%" VALIGN="TOP"></td>
    <td WIDTH="86%" VALIGN="TOP" COLSPAN="2"></td>
  </tr>
  <tr>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="6%" VALIGN="TOP"><font SIZE="2"><b><p ALIGN="RIGHT">5.7</b></font></td>
    <td WIDTH="92%" VALIGN="TOP" COLSPAN="3"><font SIZE="2"><p ALIGN="JUSTIFY">Successors and
    Assigns</font></td>
  </tr>
  <tr>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="6%" VALIGN="TOP"></td>
    <td WIDTH="6%" VALIGN="TOP"></td>
    <td WIDTH="86%" VALIGN="TOP" COLSPAN="2"></td>
  </tr>
  <tr>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="6%" VALIGN="TOP"></td>
    <td WIDTH="92%" VALIGN="TOP" COLSPAN="3"><font SIZE="2"><p ALIGN="JUSTIFY">No Party may
    assign any of its rights or obligations under this Agreement without the prior express
    written consent of the other party. This Agreement shall be binding upon and inure to the
    benefit of the respective successors and permitted assigns of the Parties hereto.</font></td>
  </tr>
  <tr>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="6%" VALIGN="TOP"></td>
    <td WIDTH="6%" VALIGN="TOP"></td>
    <td WIDTH="86%" VALIGN="TOP" COLSPAN="2"></td>
  </tr>
  <tr>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="6%" VALIGN="TOP"><font SIZE="2"><b><p ALIGN="RIGHT">5.8</b></font></td>
    <td WIDTH="92%" VALIGN="TOP" COLSPAN="3"><font SIZE="2"><p ALIGN="JUSTIFY">Entire
    Agreement</font></td>
  </tr>
  <tr>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="6%" VALIGN="TOP"></td>
    <td WIDTH="6%" VALIGN="TOP"></td>
    <td WIDTH="86%" VALIGN="TOP" COLSPAN="2"></td>
  </tr>
  <tr>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="6%" VALIGN="TOP"></td>
    <td WIDTH="92%" VALIGN="TOP" COLSPAN="3"><font SIZE="2"><p ALIGN="JUSTIFY">This Agreement
    shall supersede any and all prior agreements, documents or other instruments with respect
    to the transaction contemplated herein. No variation or modification of this Agreement and
    no waiver of any of the provisions and conditions hereof, or granting of any consent
    contemplated hereby, shall be valid unless in writing and signed by the Party against whom
    enforcement of any such variation, modification, waiver or consent is sought.</font></td>
  </tr>
  <tr>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="97%" VALIGN="TOP" COLSPAN="4"></td>
  </tr>
  <tr>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="97%" VALIGN="TOP" COLSPAN="4"><font SIZE="2"><p ALIGN="JUSTIFY">IN WITNESS
    WHEREOF, the Parties have caused this Agreement to be executed on the date first above
    written.</font></td>
  </tr>
  <tr>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="97%" VALIGN="TOP" COLSPAN="4"></td>
  </tr>
  <tr>
    <td WIDTH="3%" VALIGN="TOP" ROWSPAN="6" HEIGHT="3"></td>
    <td WIDTH="49%" VALIGN="TOP" COLSPAN="3" HEIGHT="3"><font SIZE="2"><p ALIGN="JUSTIFY">The
    Seller:</font></td>
    <td WIDTH="49%" VALIGN="TOP" HEIGHT="3"><font SIZE="2"><p ALIGN="JUSTIFY">The Buyer:</font></td>
  </tr>
  <tr>
    <td WIDTH="49%" VALIGN="TOP" COLSPAN="3" HEIGHT="3"></td>
    <td WIDTH="49%" VALIGN="TOP" HEIGHT="3"></td>
  </tr>
  <tr>
    <td WIDTH="49%" VALIGN="TOP" COLSPAN="3" HEIGHT="3"><font SIZE="2"><p ALIGN="JUSTIFY">UQM
    Technologies, Inc.</font></td>
    <td WIDTH="49%" VALIGN="TOP" HEIGHT="3"></td>
  </tr>
  <tr>
    <td WIDTH="49%" VALIGN="TOP" COLSPAN="3" HEIGHT="3"></td>
    <td WIDTH="49%" VALIGN="TOP" HEIGHT="3"></td>
  </tr>
  <tr>
    <td WIDTH="49%" VALIGN="TOP" COLSPAN="3" HEIGHT="3"><font SIZE="2"><p ALIGN="JUSTIFY">/s/William
    G. Rankin</font></td>
    <td WIDTH="49%" VALIGN="TOP" HEIGHT="3"><font SIZE="2"><p ALIGN="JUSTIFY">/s/Lee, Chi-Chen</font></td>
  </tr>
  <tr>
    <td WIDTH="49%" VALIGN="TOP" COLSPAN="3" HEIGHT="3"><font SIZE="2"><p ALIGN="JUSTIFY">William
    G Rankin</font></td>
    <td WIDTH="49%" VALIGN="TOP" HEIGHT="3"><font SIZE="2"><p ALIGN="JUSTIFY">LEE, Chi-Chen</font></td>
  </tr>
  <tr>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="49%" VALIGN="TOP" COLSPAN="3"><font SIZE="2"><p ALIGN="JUSTIFY">Chairman,
    President &amp; CEO</font></td>
    <td WIDTH="49%" VALIGN="TOP"><font SIZE="2"><p ALIGN="JUSTIFY">Taiwan/ROC</font></td>
  </tr>
  <tr>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="97%" VALIGN="TOP" COLSPAN="4"><font SIZE="2"><p ALIGN="JUSTIFY">Colorado/USA</font></td>
  </tr>
  <tr>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="97%" VALIGN="TOP" COLSPAN="4"></td>
  </tr>
  <tr>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="97%" VALIGN="TOP" COLSPAN="4"><font SIZE="2"><p ALIGN="JUSTIFY">Witness by:</font></td>
  </tr>
  <tr>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="97%" VALIGN="TOP" COLSPAN="4"><font SIZE="2"><p ALIGN="JUSTIFY">/s/Woody Chang</font></td>
  </tr>
  <tr>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="97%" VALIGN="TOP" COLSPAN="4"><font SIZE="2"><p ALIGN="JUSTIFY">Woody Chang</font></td>
  </tr>
  <tr>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="97%" VALIGN="TOP" COLSPAN="4"><font SIZE="2"><p ALIGN="JUSTIFY">Taiwan/ROC</font></td>
  </tr>
</table>

<p>&nbsp;</p>
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