Equity Transfer Agreement
Exhibit 10.8
English Translation
Transferor: Guizhou Tongjitang Pharmaceutical Co., Ltd. (“Tongjitang Pharmaceutical”)
Transferee: Xx. Xxxxxxxx Xxxx
Both parties hereby agree to the following, through friendly negotiations, in respect of the transfer of certain equity interests of Tongjitang Pharmaceutical:
| 1. | Transferor shall transfer 66.67% of Guizhou Tongjitang Sliced Herbs (the “Company”) held by it to Transferee for RMB3.4 million. |
| 2. | After the transfer is completed, new shareholders of Guizhou Tongjitang Sliced Herbs shall amend the original articles of association and shareholders agreement. |
| 3. | Transferee shall assume the credit, indebtedness and other expenses of the Company that arise after the transfer to the extent of his capital contribution to the Company. |
| 4. | Prior to the transfer, the Transferor enjoyed the rights and assumed the obligations to the extent of his capital contribution to the Company; after the transfer, Transferor shall enjoy the rights and assume the obligations of the Company to the extent of its capital contribution to the Company. |
| 5. | This agreement shall be in triplicate with each party holding one counterpart and the third counterpart being filed with the Administration of Industry and Commerce. |
| Transferor: |
(Seal) Guizhou Tongjitang Pharmaceutical Co., Ltd. | Transferee: | /s/ Xxxxxxxx XXXX | |||
| Date: February 20, 2005 |
Date: February 20, 2005 | |||||
