Agreement
Exhibit 10.17
Agreement
Party A: Shenzhen Henggang Economic Development Ltd.
Party B: Peak Plastic & Metal Products (International) Ltd.
After negotiation, both Party A & Party B have reached a mutual agreement on the payment of management fee as follows:
| 1. | The payment shall be made by Party B through Bank of China to the bank account of Party A based on headcount of 1,300 persons at HK$700 per person monthly. Subject to further negotiation and agreement by both parties, the headcount can be adjusted depending on the manpower variation. |
| 2. | The total management fee paid by Party B is subject to a rebate from Party A at RMB60.50 for every HK$100 or part thereof. |
| 3. | Management fee from Party B shall be paid each month, and the rebate from Party A will be made within the same month. |
| 4. | This agreement is effective as of January 1, 2007 until the termination of the Processing Agreement between both parties. |
| 5. | Any addendum to this Agreement shall be subject to further negotiation and agreement by both parties. |
| 6. | Each of Party A & Party B shall keep an original copy of this Agreement, which becomes binding upon execution by the authorized signatories. |
Party A: Shenzhen Henggang Economic Development Ltd.
Authorized Representative: ***
General Manager: ***
Party B: Peak Plastic & Metal Products (International) Ltd.
For and on behalf of
Peak Plastic & Metal Products (International) Ltd.
Authorized Signature(s): ***
