Termination Agreement
This
termination agreement is signed by the following four Parties on July 25, 2008,
in Xi’an, Shaanxi Province.
Party
A:
Xi’an Amorphous Alloy Zhongxi Transformer Co., Ltd.
Location:
Xxxxx Xxxxxxxx, Xx.0 Xxxxx Xxxx, Xx’an
Legal
Representative: Song Yongxing
Registered
No.:6101012110931
Party
B:
Xi’an Yongchun Science & Technology Co., Ltd.
Location:
Yongchun Xxxx Xxxxxxxx Xxxxxx, Xx.0 Xxxx Xxxx, Xx-xxxx Industries
Development Zone, Xi’an
Legal
Representative: Xxxx Xxxxxx
Registered
No.:6101012112339
Party
C:
Zhejiang Lvneng Electric Co., Ltd.
Location:
1/F, Xx.0 Xxxxxxxx, Xx.00 Xxxxx Xxxx Xxxx, Xxxxxxxx, Xxxxxxxx
xxxxxxxx
Legal
Representative: Hu Jinqian
Registered
No.:3300002000181
Party
D:
Chai Xinzhi
Location:
Provincial Water & Power Project Bureau, Jiancai Road, Weicheng District,
Xianyang, Shaanxi Province
ID
Card:
610404600617203
Each
Party of this termination agreement entered into “AGREEMENT”(hereafter referred
to as “original agreement”) on Nov.11, 2007 in Xi’an, Shaanxi province, each
Party of this agreement agreed that they would offer the paid-in capital for
RMB30,000,000 together to establish Shaanxi Amorphous Alloy Power Co., Ltd.(
temporary name, hereafter referred to “intent established company”) in Jingyang
county, Shaanxi province .Due to Party B, Party C and Party D failed to offer
the paid-in capital in a timely manner based on original agreement, so, the
intent established company failed to be founded, after through equal
negotiation, all Parties agreed to terminate the original agreement, and made
the following terms to execute.
1.
Each
Party agreed to terminate the original agreement which was signed on Nov. 11,
2007.
2.
After
termination the original agreement, all the right and responsibility which
each
Party shall be liable based on the original agreement shall be
terminated.
3.
The
original agreement was terminated by each Party after equal negotiation and
made
a consensus, each Party shall not be liable for the breaching duty, any Party
has not entitled to require another Party or the other Parties to shoulder
the
breaching responsibilities and damages based on the article 12 of the original
agreement.
4.During
the period from signing of the original agreement to the effectiveness of this
termination agreement, if any Party paid the cost and expenditure so as to
found
the intent established company, this Party shall bear the expenditures and
abandon the right which require the other Parties to compensate the
expenditures.
5.
This
termination agreement will be effective after signed and sealed by the
authorized representative of each Party.
6.
The
conclusion, effectiveness, interpretation and execution of this termination
agreement are applied to the law and regulation of PRC.
7.
Any
disputes, controversies or differences which may arise under any term of this
termination agreement, it shall be settled through friendly negotiation. If
failed to make a consent, any Party is entitled to xxx at the people’s court
where Party A located.
8.
This
termination agreement is written in English and Chinese, legal expression
subject to Chinese version. The original of this termination agreement has
four
copies, each Party holds each one original with the same legal
effect.
9.
Hereby
we certificate the date which each Party signed the termination agreement as
demonstrated at the first page.
(No
any
text following)
|
Party
A: Xi’an
Amorphous Alloy Zhongxi
|
Party
B: Xi’an Yongchun Science &
|
|
Transformer
Co., Ltd.
|
Technology
Co., Ltd
|
|
Legal
representative:
|
Legal
representative:
|
|
(or
authorized
representative):
|
(or
authorized representative):
|
|
Party
C: Zhejiang Lvneng Electric Co., Ltd.
|
Party
D:
|
|
Legal
representative:
|
(
Chai Xinzhi )
|
|
(or
authorized
representative)
|
