ENTRUSTMENT AGREEMENT
Party
A: Beijing Deli Solar Technology Development Co., Ltd.
(“Entrustor”);
Party
B: Tianjin Wanshitong Business Management Consulting Co., Ltd
(“Entrustee”).
WHEREAS,
Party A intends to acquire the state-owned equity interest in Tianjin Huaneng
Group Energy Equipment Co., Ltd. (hereinafter refer to as “Tianjin Huaneng”)
held by Tianjin Municipal Ji County State-owned Assets Administration Commission
(hereinafter refer to as the “SAAC”), and in order to facilitate the transfer of
the aforementioned equity interest, Party A desires to entrust Party B to
coordinate the equity acquisition;
THEREFORE,
based on the principle of good faith bargaining, Party A and Party B, via
negotiations, hereby agree as follows:
Article
1: Entrusted Matters
|
1.
|
Assisting
Party A to design, amend and complete the plan of
acquisition;
|
|
2.
|
Assisting
Party A to communicate, coordinate with all relevant governments
of
Tianjin and Ji County , to facilitate the work of public
relations;
|
|
3.
|
Assisting
Party A to negotiate and mediate with People’s Government of Tianjin Ji
County and the SAAC in order to accelerate relevant
process;
|
|
4.
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According
to Party A’s request, assisting Party A to complete other work during the
acquisition.
|
Article
2: Service Fee
In
consideration of the entrustment provided in Article 1, Party B shall receive
RMB 5,860,000 as the service fee. Party A shall pay Party B in lump-sum within
ONE month after Tianjin Huaneng registers the change of equity interest with
the
Bureau of Administration of Industry and Commerce.
Article
3: Liability for Breach of Contract
Upon
the
effectiveness of this Contract, both parties shall duly perform the obligations
agreed to herein. Any failure by either party to perform the obligations
stipulated in this Contract, in part or in whole, shall constitute a breach
of
the Contract. The breaching party shall compensate the non-breaching party
for
the losses incurred as a result of such breach.
Article
4: Dispute Resolution
In
the
event that no agreement is reached as to the settlement of any dispute arising
out of the execution of this Contract, both parties hereby agree to submit
the
dispute to Beijing Arbitration Committee for arbitration.
Article
5: Effectiveness of the Contract
The
originals of the Contract are in duplicate, and each party shall hold one.
The
Agreement shall be effective after it is duly signed by both parties with seals
affixed and until the Party B’s completion of the entrustment.
1
(Signature
Page)
Party
A: Beijing Deli Solar Technology Development Co., Ltd.
|
(Seal) affixed
Legal
Representative (authorized representative): /s/ Deli
Du
(Signature)
Deli
Du
Date:
08/07/2007
|
Party
B: Party B: Tianjin Wanshitong Business Management Consulting Co., Ltd
|
(Seal) affixed
Legal
Representative (authorized representative): /s/ Wantong
Zheng
(Signature)
Wantong
Zheng
Date:
08/07/2007
|
2
