Termination of the franchise agreement between Hippo Lace Ltd. and Sino Wish Limited

Termination of the franchise agreement between Hippo Lace Ltd. and Sino Wish Limited

THIS AGREEMENT is made and entered into this April 1, 2012, between Hippo Lace Limited (“Franchisor”), and Sino Wish Limited, (“Franchisee”).

Following the Stock Purchase Agreement entered by Hippo Lace Limited (“Hippo Lace”), Sino Wish Limited (“Sino Wish”) and Xxxxxx Xxxx (“Xxxxxx”), the shareholder of Sino Wish Limited with the closing date on March 29, 2012, Sino Wish became the wholly owned subsidiary of Hippo Lace rather than the Franchisee to operate café bistro carrying the name of Caffe Xxxxx (the “Xxxxx”) at Shop no. 208-209, Xxx Xxx Xxxxx, 000 Xxxxxxxx Xxxx, Xxx Xxxx, Xxxx Xxxx.

In this conjunction, Hippo Lace and Sino Wish hereby agree to terminate the Franchise Agreement entered by both parties on March 1, 2010 with effect from April 1, 2012, and pursuant to the supplementary franchise agreement entered by Hippo Lace and Sizegenic Holdings Limited on March 1, 2010, Hippo Lace for Sino Wish shall pay annual franchise fee amounting to HK$40,000 to Sizegenic Holdings Ltd. for Sino Wish to operate Caffe Xxxxx for the remaining third year term from March 1, 2012 to February 28, 2013.

All rights and obligations of the parties under the terms of the Franchise Agreement are hereby terminated as of April 1, 2012, and each party hereby waives and releases any and all claims it may have now or in the future arising out of, or in any way related to such Franchise Agreement.  

FRANCHISOR:

HIPPO LACE LIMITED

/s/ Xxxx Xxx Hing

__________________________

XXXX XXX HING, COO

DATE: 1 April 2012

FRANCHISEE:

SINO WISH LIMITED

/s/ Xxxxx Xxxx

___________________________

XXXXX XXXX, COO

DATE: 1 April 2012