Supplemental Feed Purchase Contract
Exhibit 10.31
Party A:
Weifang Taihong Feed Co., Ltd
Party B:
Weifang Yuhe Poultry Co., Ltd
WHEREAS
(A) Party
A and Party B entered into a feed purchase agreement as of January 1, 2006,
pursuant to which, Party A agreed to supply to Party B and Party B agreed to
purchase all necessary feed from Party A.
(B)
During the period from January 1, 2006 to December 31, 2006, Party A supplied
feed to Party B at RMB 1,829, approximately equivalent to US$267 per ton.
During the period from January 1, 2007 to December 31, 2007, Party A supplied
feed to Party B at RMB 2,141,
approximately
equivalent to US$313 per ton. During the period from January 1, 2008 to July 31,
2008, Party A supplied feed to Party B at RMB 2,588, approximately equivalent to
US$378 per ton.
This
supplemental agreement is signed on a friendly negotiation and equality basis by
and between the aforementioned parties:
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1.
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Party
A shall supply feed to Party B and Party B shall purchase feed from Party
A at RMB 2,795, approximately equivalent to US$409 per ton. Subject to
agreement by Party A and Party B, the foresaid price can be adjusted
according to the market conditions.
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2.
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Term
of this contract: During the term from August 1, 2008 to December 31st,
2008, Party B shall place purchase orders in accordance with its operating
demands.
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3.
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Place:
Weifang Taihong Feed Co., Ltd
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4.
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Delivery
of feed: Party A shall deliver the feed to appointed breeding farms of
Party B.
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5.
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Payment:
The feed shall be paid for in cash or through the banking
system.
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6.
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Violations
of this contract: In the event that Party A fails to provide feed in due
time, which leads to Party B’s great loss, Party A should compensate for
Party B’s losses by deducting the losses from payments of the feeds.
Should Party B violates any provisions of this contract, party A can at
any time stop the feed supply, or revoke this contract.
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This
contract shall come into effectiveness after signature by both parties.
This contract is made in two original copies, with one to be held by each
party.
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Party A:
Weifang Taihong Feed Co., Ltd
Representatives:
Xxxx Xxxxxx
Party B;
Weifang Yuhe Poultry Co., Ltd
Representatives:
Han Chengxiang
Date:
August 5, 2008
