Letter Amendment to Letter Agreements between EarlyBirdCapital, Inc. and Chardan China Acquisition Corp. Insiders

Summary

EarlyBirdCapital, Inc. agrees to waive certain restrictions in previous letter agreements with Chardan China Acquisition Corp. and its insiders, specifically those limiting their involvement with future Acquisition Funds. All other terms of the original agreements remain unchanged. This amendment is effective as of February 23, 2004, and is signed by EarlyBirdCapital, Inc.'s Chairman.

EX-10.16 3 file002.txt LETTER AMENDMENT EarlyBirdCapital, Inc. 600 Third Avenue 33rd Floor New York, New York 10016 February 23, 2004 Chardan China Acquisition Corp. 777 South Highway 101 Suite 215 Solana Beach, CA 92075 Dr. Richard D. Propper Jiangnan Huang Kerry Propper Li Zhang Dan Beharry Steven Urbach Anthony D. Errico Jr. Michael Urbach Gentlemen: Reference is made to each of your respective letter agreements with EarlyBirdCapital, Inc. and Chardan China Acquisition Corp., dated January 5, 2004. The undersigned hereby waives its rights under Section 7 or Section 8 (as the case may be) of each of your letter agreements relating to your restrictions on being involved with future "Acquisition Funds." Except as indicated above, each of the letter agreements shall remain in full force and effect. EARLYBIRDCAPITAL, INC. By: /s/ David M. Nussbaum --------------------- Name: David M. Nussbaum Title: Chairman