Payment Extension Agreement
Exhibit 10.1
Party A: Tianjin Binhai Shisheng Trading Group Co., Ltd
Party B: Hezhong (Tianjin) International Development Co., Ltd
Party A and Party B had entered into an equity transfer agreement on November 30, 2013, by which Party A acquires 100% equity of Tianjin Zhonghe Auto Sales Service Co., Ltd. As per this acquisition agreement, a payment of RMB ONE HUNDRED TWENTY MILLION is due on November 30, 2015. After friendly consultation, the two parties hereby conclude an arrangement as below:
1. On request of Party A, Party B agreed to extend this due payment to May 31, 2016, and the annual interest rate for the extension is 6%.
2. This agreement is made in two copies with equivalent validity.
3. Any issue not covered herein shall be negotiated separately between the parties.
Party A: /s/ Xxxxx Xxxxxxx Party B: /s/ Fan Jie
Date: Nov 10, 2015
