Exhibit - 10.14 Supplementary Agreement to Lease Agreement dated on 5th September 2004
Exhibit
- 10.14
Supplementary
Agreement to Lease Agreement dated on 5th September 2004
Party
A:
Shanghai Kaihong Electronic Co., Ltd
Add:
Chenchun Road East-end, Xingqiao Town, Songjiang District, Shanghai
Party
B:
Shanghai Dinghong Electronic Co., Ltd
Add:
Xx.
000, Xxxxxxxx Xxxx, Xxxxxxxx Xxxx, Xxxxxxxxx Xxxxxxxx, Xxxxxxxx
Whereas,
Party
A
and Party B have entered into a Lease Agreement for the rental of part of the
Multi-Purpose Four-Stored Building as well as the Dormitory Building at No.375
of the Land in Songjiang District, Shanghai as of September 5th
2004.
Such Agreement has been in effect and performed by the two parties thus far.
Hereby, based on amiable negotiation, both parties agree to further enter into
the following clauses as a Supplementary Agreement regarding the lease of the
first and second floors of the Dormitory Building thereof:
Lease
of Area
The
first
and second floors of the Dormitory Building cover a total building area of
1,796
square
meters including 40 rooms. Party A shall inform Party B of rooms needed at
the
beginning of each quarter, and both parties shall sign an Annex to this
Supplementary Agreement. The Annex shall be deemed as a complementary agreement
to the Supplementary Agreement and of the same effectiveness.
2.
Rental
The
Parties agree that the rent of the first and second floors shall be
RMB29.8
per
square meter per month and the area of each room is 44.9 square meters, so
the
monthly rental per dormitory room shall be RMB $1,338.02.
3.
Deposit
As
for
the lease of the first and second floors, Party A shall pay a deposit to Party
B
amounting to one month rental within 10 days after signing the Annex to this
Supplementary Agreement. Part B will refund the deposit to Part A after 2 weeks
of termination of the Supplementary Agreement.
4.
Term of Lease
The
term
of lease of the first and second floors shall commence from the date of signing
an Annex to this Supplementary Agreement till September 4, 2009, with an
automatic renewal for every five(5) years, unless Party A gives a termination
notice no less than 30 days prior to the expiration of any Lease Term. Effective
in its business and operation period, Party A has the priority to the lease
area
defined herein and Party B shall not terminate this Supplementary Agreement
without a reasonable cause unless otherwise Party A agrees in writing. During
renewal, items relating to rental herein could be re-negotiated and adjusted
with a reference to the then prevailing market rentals.
5.
This
Supplementary Agreement shall be deemed as a complementary agreement to the
Lease Agreement and of the same effectiveness. In cases of matters not covered
herein, the Lease Agreement shall be used as a reference.
6.
Any
Exhibit to this Supplementary Agreement shall constitute to be a part of the
entire Supplementary Agreement.
7.
This
Supplementary Agreement is valid in both Chinese and English versions.
8.
This
Supplementary Agreement is effective as of January 1, 2006.
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Party
A: Shanghai Kaihong Electronic Co., Ltd
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Party
B: Shanghai Dinghong Electronic Co., Ltd
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Representative:
/s/:
Xxxxxx Xxx
Xxxxxx
Xxx
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Representative:
/s/:
Qin-Zhu, Zhang
Qin-zhu,
Zhang
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|
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Date
of Signature: March 15, 2006
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Date
of Signature: March 15, 2006
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