Equity Transfer Agreement
Exhibit 10.9
English Translation
| Transferor: |
Guizhou Tongjitang Pharmaceutical Distribution Co., Ltd. (“Tongjitang Distribution”) | |
| Transferee: |
Xx. Xxxxxxxx Xxxx [ID no: 510212196802201052] | |
Both parties hereby agree to the following, through friendly negotiations, in respect of the transfer of certain equity interests of Tongjitang Pharmaceutical:
| 1. | Transferor shall transfer its capital contribution of RMB2.0 million, which represented 33.33% of Guizhou Tongjitang Sliced Herbs, to Transferee for RMB2.0 million. |
| 2. | Transferee shall pay RMB2.0 million in full to Transferor within three months after execution of this Agreement. |
| 3. | After the transfer is completed, new shareholders of Guizhou Tongjitang Sliced Herbs (the “Company”) shall amend the original articles of association and shareholders agreement. |
| 4. | Transferee shall assume the credit, indebtedness and other expenses of the Company that arise after the transfer to the extent of his capital contribution to the Company. |
| 5. | Prior to the transfer, the Transferor enjoyed the rights and assumed the obligations to the extent of his capital contribution to the Company; after the transfer, Transferor shall enjoy the rights and assume the obligations of the Company to the extent of its capital contribution to the Company. |
| 6. | This agreement shall be in triplicate with each party holding one counterpart and the third counterpart being filed with the Administration of Industry and Commerce. |
| Transferor: (Seal) | Guizhou Tongjitang Pharmaceutical Distribution Co., Ltd. | Transferee: /s/ Xxxxxxxx XXXX | ||
| Date: January 18, 2006 | Date: January 18, 2006 | |||
