Letter of Confirmation of Interest of Related Party Loans

EX-10.8 3 v220942_ex10-8.htm

Exhibit 10.8

Party A: Universal Solar Technology, Inc.

Party B: Ling Chen

Whereas:

1.	Party A is a public company trading on OTC BB;

2.	Party B is Director of Party A;

Party A and Party B agree that all loans provided by Party B to Party A will bear interest at the interest rate of 3.50% per annum since January 1, 2011. Party A can make payment of accrued interest when its cash flow circumstance allows.

Party A: Universal Solar Technology, Inc.

/s/ Wensheng Chen

Party B: Ling Chen

/s/ Ling Chen