AGREEMENT TO TERMINATE OPTION AGREEMENT
Exhibit 10.8
THIS AGREEMENT TO TERMINATE OPTION AGREEMENT (this “Agreement”) is entered into as of March 22, 2011, by and among Shenyang Yanzikou Sports & Entertainment Co., Ltd. (“Party A”), Beijing Shungao Golf Course Management Co., Ltd. (“Party B”), and shareholders holding the equity interests of Party B (“Shareholders” and with Party A, Party B and Chairman collectively referred to as the “Parties”). China Golf Group, Inc. (“the Company”), is made a party to this Agreement for the sole purpose of acknowledging the Agreement.
(1) Party A, Party B and Shareholders hereby unanimously agree to terminate Option Agreement.
B. GOVERNING LAW. This Agreement shall be governed and construed under the laws of the People’s Republic of China, and shall be binding on and shall inure to the benefit of the parties and their respective successors and permitted assigns.
C. COUNTERPARTS. This Agreement may be executed in any number of counterparts, each of which shall be an original, but all of which together shall constitute one instrument.
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SIGNATURE PAGE
PARTY A:
Shenyang Yanzikou Sports & Entertainment Co., Ltd.
By: /s/ Ye Bi
Name: Ye Bi
Title: Executive Director
PARTY B:
Beijing Shungao Golf Course Management Co., Ltd.
By: /s/ Xiao Bowu
Name: Xiao Bowu
Title: Executive Director
SHAREHOLDERS
_/s/ Xiao Bowu____________
Xiao Bowu
Owns 100% of Beijing Shungao Golf Course Management Co., Ltd.
ACKNOWLEDGED BY
By:___/s/ Ye Bi________
Name: Ye Bi
Title: CEO