Stock Transfer Agreement (Translation)
Exhibit 10.22
(Translation)
Party A: Korea Stevia Co, Ltd.
Authorized Representative: Jeong Ill-hwan, Xxx Xx Youp
Address: Jeopji-ri, Ibam-myeon Jeongeup-si Xxxxxxxxx-xx 000-00 Xxxxx
Party B: Qufu Shengwang Stevia Biology and Science Co., Ltd.
Authorized Representative: Xxxxxxx Xxxxx
Address: 0 Xxxxxxxxx Xxxxxx, Xxxxxxx Industrial Park, Qufu, Shandong Province
After negotiation, both parties have agreed on the transfer of the equity interest of Qufu Shengwang Stevia Biology and Science Co., Ltd. owned by the parties pursuant to the following terms:
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1.
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Pursuant to the resolution of the board meeting held by Qufu Shengwang Stevia Biology and Science Co., Ltd. on September 30, 2011, Party B agrees to pay Party A with a lump sum of RMB4,000,000 to exchange all the historical investments made by Party A in Party B which are composed of cash contribution of RMB4,181,800 and current inventory with the book value of RMB2,480,990. The payment shall wire to Qingdao Tounong Organic Fertilizer Co., Ltd. owned by Korea Stevia Co, Ltd.
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2.
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Once the buyout is executed, Party A agrees to transfer its 40% equity interest of Qufu Shengwang Stevia Biology and Science Co., Ltd. to Party B. After the transfer, Party A shall not have any right or interest in the joint venture.
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This Agreement takes effect with the signatures of authorized representatives (or entrusted agents) of both parties.
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This Agreement has two identical copies. Each party shall hold one copy. Both copies have the same legal force.
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Party A Signature: /s/ Jeong Ill-hwan,
Jeong Ill-hwan
/s/ Xxx Xx Youp
Xxx Xx Youp
Party B Signature: /s/ Xxxxxxx Xxxxx
Xxxxxxx Xxxxx
/s/Fanjun Wu
Fanjun Wu
/s/Xxxxxxxx Xxx
Xxxxxxxx Xxx
September 30, 2011
