Technical Services Agreement [Chinese translation]
Exhibit 10.24
Technical Services Agreement
[Chinese translation]
Between: EcoloCap Solutions Canada Inc. (EcoloCap)
000 Xx Xxxxxxx xxxxx 000
Xxxxxxxx XX X0X 0X0
Tel: 0000000000000 Fax: 0000000000000
And
Shandong Chengzeyuan Environment Protection Engineering Co., Ltd.
[Chinese translation]
Address: Xxxx Xxxx 000, Xxxxxxxx Xxxx, Xxxxxxxx Xxxxxxxx, XXXXX
[Chinese translation]
Telephone: 00000000000
Fax: 0000-0000000
Email: xxxxxxxxxxx_xxxx@000.xxx
President: [Chinese translation]/Li Shengguo
Re: Technical services for CDM project: Treatment of Urban Domestic Refuse and
Resource Utilization in Pingyuan County [Chinese translation]
Whereby EcoloCap Solutions (Canada) Inc. will perform for Chengzeyuan necessary technical services for the validation of its CDM projects.
EcoloCap [Chinese translation]
In consideration of these services rendered as well as expenses incurred, EcoloCap shall be paid by Chengzeyuan professional fees for this project and EcoloCap shall be paid a fee for its services which is calculated as follows: [Chinese translation]
Amount paid = 10% x Net Revenues from CER [Chinese translation]
Net Revenues = Total validated quantity of CER multiplied by 9 Euro – 50,000 Euro
(First year)
[Chinese translation]
Net Revenues = Total validated quantity of CER multiplied by 9 Euro (following years)
[Chinese translation]
EcoloCap shall be responsible for the preparation of these technical documents (PIN, PDD, etc.) and shall make best efforts to assist Chengzeyuan in the approval processes of these projects by local authorities as well as by the DOE and the EB. All the expenses incurred above will be borne by EcoloCap.
[Chinese translation]
EcoloCap shall make best effort to help Chengzeyuan to get financial participation of foreign investors in the Project.
[Chinese translation]
We agree to the above and acknowledge receiving a copy of this agreement. [Chinese translation]
Dated this 21st day of October 2008.
[Chinese translation]
EcoloCap Solutions (Canada) Inc.
Per: DR. TRI XX XXXXXX
Dr. Tri Xx Xxxxxx
President & CEO
Shandong Chengzeyuan Environment Protection Engineering Co., Ltd.
[Chinese translation]
Per: LI, SHENGGUO
Xx. XX, Shengguo
Board Chairman