English Translation of Termination Letter
Exhibit 10.1
English Translation
of
Party A: Beijing Shenzhou Rongtong Investment Management Co., Ltd
Party B: American Arki Network Service Beijing Co., Ltd
Whereas:
Party A is an operating entity in China. Party B is a VIE of Consumer Capital Group Inc. (“Consumer Capital”). The parties entered into an Equity Transfer Agreement (the “Agreement”) on November 17, 2017. According to the Agreement, Party B acquired 100% of the issued and outstanding equity securities of Party A from its shareholders (the “Shareholders”). Party B also issued to the Shareholders an aggregate of 4,175,417 shares of common stock of Consumer Capital (the “Common Stock”). Specifically, Xxxxx Xxxx received 1,461,387 shares of Common Stock; Xxxxxxx XX received 1,252,643 shares of Common Stock; and Xxxxx Xxxx received 1,461,387 shares of Common Stock.
As of March 29, 2018, both parties mutually agreed to terminate the Agreement dated November 17, 2017, and reached the following agreements:
Before the Equity Transfer Agreement, the Shareholders owned 100% of the issued and outstanding equity securities of Party A. Particularly, Xxxxx Xxxx owned 35%, Xxxxx Xxxx owned 35%, and Xxxxxxx Xx owned 30%. The Shareholders transferred all the shares to Party B. Through voluntary and friendly negotiation, the Shareholders agree to return the aggregate of 4,175,417 shares of Common Stock to Consumer Capital. And Party B agrees to return the shares of Party A to the Shareholders.
Party A: Beijing Shenzhou Rongtong Investment Management Co., Ltd
Xxxxxxx XX _/s/ Xxxxxxx XX __________________
Xxxxx XXXX _/s/ Xxxxx XXXX ___________________
Xxxx XXXX _/s/ Xxxx XXXX ___________________
Party B: American Arki Network Service Beijing Co., Ltd
Legal Representative: /s/ Xxxxxxx Xxx
Date: March 29, 2018
