Extension Agreement
EXHIBIT
4.11
Xxxx
Xxx
Si Xu Xxx (2005) No. 33
Government
Unit: Shenzhen
City Baoan District Foreign Economic Development Limited
Party
A: Shenzhen
Bao An District Long Cheng Hi-Lite Electronic Factory
Party
B: Hong
Kong
Hilite Camera Company Limited
The
original agreement Xxxx Xxx Xxxx Xxx Zi (91) No. 960 between both parties
(sanctified document No. Xxxx Xxx Foreign (91) No. 2325) signed on December
13,
1991 is going to be expired on 31st
March,
2006. As both parties had a good co-operation during the period of the original
agreement, for a further development of production, both parties have agreed
to
extend the original agreement for 10 years to 31st
March
2016. The provisions of the original agreement remain unchanged and the
supplementary provisions as follows:
| 1. |
No
of workers is 140 people, the wages of workers should not be less
than
HKD700 each person per month.
|
| 2. |
According
to the factory are of 1,200 square meter, fixed processing charges
of
HKD13 per every square meter per month, monthly fixed processing
charges
of HKD15,600.
|
| 3. |
The
fee of the point 1 and 2 should be remitted to Party A’s factory through
appointed bank. With a continuous increase in living standards,
the fees
need to adjusted every two years.
|
| 4. |
If
any party shall terminate this agreement before its expiration,
either
party shall pay the other party a compensation equivalent to 2
month’s
processing charges.
|
This
agreement is in a form of 6 copies, this agreement is effective with the
date of
signature.
|
Business
Unit:
Shenzhen
City Baoan District Foreign
Economic
Development Limited
Representative:
|
Contractor
Unit:
Shenzhen
Land & Sun Industrial & Trade
Company
Limited
Representative:
|
|
(Chop
and signature)
|
(Chop
and signature)
|
|
Party
A:
Bao
An Long Cheng Hilite Electronic Factory
|
Party
B: Hong
Kong Hilite Camera
Company
Limited
|
|
Representative:
(Chop
and signature)
|
Representative:
(Chop
and Signtaure)
|
Date: January
26, 2005
