TECHNOLOGY LICENSE AGREEMENT
Exhibit
10.21
Party
A (Licensor):
|
Xxxxx
Xx
|
Party
B (Licensee):
|
Harbin
Pacific Dragon Fertilizers Co., Ltd.
|
Legal
Representative:
|
Xxxxx
Xx
|
Recital
Pursuant
to Contract Law of People’s Republic of China, the Parties through mutual
negotiations hereby enter into this Agreement, under which Party A licenses
Party B to use the production process and formula of the proprietary technology
of “Tialong" Lvlingboa liquid compound fertilizer ("Technology").
1.
Name of the Technology: production process and formula of "Tailong" Lvilingboa
liquid compound fertilizer.
3.
Term: from the date on which Party A licenses Party B the Technology to December
31, 2011.
(a) |
Party
A shall continue to provide the materials and instruction of the
Technology after this Agreement takes into effect;
|
(b) |
Party
A undertakes that Party A is the legal owner of the Technology and
does
not use on his own or license the Technology to any other party except
Party B;
|
(c) |
During
the term of this Agreement, Party A shall not provide the Technology
to
any third party or use the Technology himself, and keep the
confidentiality of the Technology.
|
5.
Obligations of Party B:
(a) Party
B
shall not misappropriate the Technology in connection with any illegal
activities;
(b) Party
B
shall keep the Technology confidential during the term of this agreement and
after the expiration of the term of this Agreement.
6.
In the event that a Party breaches the Agreement and causes damages to the
other
Party, the breaching party should be obligated to compensate.
7. |
In
the event a dispute arises between Party A and Party B in connection
with
the implementation of this Agreement, the Parties shall settle such
dispute through friendly consultations. If the consultation fails
to lead
to an agreement , either party can bring a lawsuit to a People’s court
having jurisdiction.
|
8.
This agreement shall become effective as of the date when
both parties sign and/or affix seals to it.
9.
This agreement consists of two originals. Party A and Party B
each retain one copy with the same legal effect.
Party
A:
__Yu
Chang____________
Xx
Xxxxx
Date:
__July
5, 2007______
Party
B:
Pacific
Dragon Fertilizer Co., Ltd
By:__Yu
Chang_________
Name:
Xx
Xxxxx
Title:
President
Date:
__July
5, 2007_____