CHINA RESOURCES DEVELOPMENT INC. c/o SSC Mandarin Investment Group Limited
c/o SSC
Mandarin Investment Group Limited
0000
Xxxxx Resources Xxxxxxxx
00
Xxxxxxx Xxxx, Xxxxxxx
Xxxx
Xxxx
_______________,
2011
SSC
Mandarin Investment Group Limited
0000
Xxxxx Resources Xxxxxxxx
00
Xxxxxxx Xxxx, Xxxxxxx
Xxxx
Xxxx
Ladies
and Gentlemen:
This letter will confirm our agreement
that, commencing on the effective date (the “Effective
Date”) of the registration statement (the “Registration
Statement”) for the initial public offering (the “IPO”) of
the securities of China Resources Development Inc. (the “Company”)
and continuing until the earlier of (i) the consummation by the Company of an
initial business combination or (ii) the Company’s liquidation of trust account
(in each case as described in the Registration Statement) (such earlier date
hereinafter referred to as the “Termination
Date”), SSC Mandarin Investment Group Limited shall make available to the
Company certain office space and administrative and support services as may be
required by the Company from time to time, situated at 1402 China Resources
Xxxxxxxx, 00 Xxxxxxx Xxxx, Xxxxxxx, Xxxx Xxxx. In exchange therefore,
the Company shall pay SSC Mandarin Investment Group Limited the sum of US$10,000
per month on the Effective Date and continuing monthly thereafter until the
Termination Date. SSC Mandarin Investment Group Limited hereby agrees
that it does not have any right, title, interest or claim of any kind in or to
any monies that may be set aside in a trust account (the “Trust
Account”) that may be established upon the consummation of the IPO (the
“Claim”)
and hereby waives any Claim it may have in the future as a result of, or arising
out of, any negotiations, contracts or agreements with the Company and will not
seek recourse against the Trust Account for any reason whatsoever.
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Very
truly yours,
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By:
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Name: Xxxxxxx
Xx
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Title: Vice
President of Finance
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AGREED
TO AND ACCEPTED BY:
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SSC
MANDARIN INVESTMENT GROUP LIMITED
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By:
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Name: Xxxxx
Xxx
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Title: Director
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