FINANCIAL AGREEMENT
This Financial Agreement (the "Agreement") is made by and between USChina
Channel Incorporation (the "INC") and Xxxxxx Xxxxx, collectively the "Parties",
on the third day of October 2006.
Whereas the "INC" is a Nevada registered stock incorporation with agency
services specialized in financial area to serve the Chinese private companies
going publicly listing on SEC filing, exhibits, informative conference, road
show, lettering service and patent broker service, and Xxxxxx Xxxxx who owned
majority of "INC".
Now, therefore, in consideration of the mutual agreements promises set forth
herein, the parties agree as follows:
1. Xxxxxx Xxxxx agrees to pay for expenses incurred by the "INC" before and in
the process of public offering until the proceeds are raised.
2. The total amount, which Xxxxxx Xxxxx is willing to offer for the "INC", is
$70,000 without any interests charge. The "INC" will spend the money
discretionally with controlled attention.
3. If only nominal fund or no fund is raised in the public offering then Xx.
Xxxxx has agreed not to seek repayment of expenses he has paid on behalf of the
Company and the Company will not be liable to Xx. Xxxxx or any other party for
payment of expenses undertaken by Xx. Xxxxx on behalf of the Company.
4. Termination will be effective automatically ten days after the Company
collects the proceeds from the public offering. If the proceeds from the
offering are less than $70,000, Xx. Xxxxx will continue to loan the Company up
to the difference between $70,000 and the collected proceeds after the proceeds
are fully consumed in the business operation.
Agreed to and accepted as of the third day of October, 2006 by:
USChina Channel Incorporation Individual
/s/ Xxxxxx Xxxxx /s/ Xxxxxx Xxxxx
Xxxxxx Xxxxx, President Xxxxxx Xxxxx
