Sale and Purchase Agreement THIS AGREEMENT is made on APRIL 30, 2008 in the city of Beijing, China BETWEEN:
1Exhibit
1.01. Sale and Purchase agreement dated April 30, 2008 (translated from the
executed Chinese version)
THIS
AGREEMENT is made on APRIL
30,
2008 in
the
city of Beijing, China
BETWEEN:
1.
|
Huhhot
Xinhengbaide Biotechnology Co., Ltd, incorporated
and existing as a limited liability company ( a sino-foreign joint
venture) under the law of China with its registered address at the
Industrial Area of Baimiaozi Town, Tumote Zuoqi, Huhhot City (the
“Company”).
|
Legal
Representative: Xx. Xx Yongsheng
2.
|
Bio-Bridge
Science (HK) Co., Ltd incorporated
and existing as a limited liability company under the law of Hong
Kong
with its registered address at Xxxxx 0000 Xxxxxxxxx Xxxxx 00-00 Xxxxxxx
Xxxx T.S.T KLN (the “Purchaser”).
|
Legal
Representative: Xx. Xxxxxx Xxx
The
Company and the Purchaser are collectively referred to herein as the “Parties”
and individually as a “Party”.
WHEREAS:
(A)
The
Company is a limited liability company established in the PRC with the
registered number of 1501062000463 and the registered capital of 500,000RMB,
its
business is the refining, processing and sale of animal serum and application
of
other biologic materials and technology;
(B)
According
to the resolution of the Board (Appendix I) of the Company dated on April 30,
2008, the Company increased its registered capital and agrees that the Purchaser
shall purchase the increase in the registered capital of the Company at a
premium (the “Increase in Capital”) in accordance with the provisions of this
Sale and Purchase Agreement (the “Agreement”); and
(C)
The
Purchaser agrees to purchase the Increase in Capital of the Company at a premium
in accordance with the terms and conditions as set forth in this
Agreement.
IT
IS
HEREBY AGREED:
1.
|
INTERPRETATION
|
In
this
Agreement and its appendices, unless the context otherwise requires, the
following expressions have the following meanings:
1.1
|
“Business
Day” means
a working day other than a weekend day or a statutory
holiday.
|
1.2
|
“Audit
Report” means
the Zhubiaoshen (2008)
No.130
Audit Report issued by Beijing Zhubiao CPA INC. on January 9, 2008
(Appendix II).
|
1.3
|
“Property
Valuation Report”
means the Tianzhenghuapinzhi (2008)
No.2
Property Valuation Report issued by Beijing TianZhengHua CPA INC.
on
January 9, 2008, and the Tianzhenghuapinzhi (2008)
No.2
Property Valuation Report issued by Beijing TianZhengHua CPA INC.
on
January 26, 2008 (Appendix III).
|
1.4
|
“Balance
Sheet”
means the audited balance sheet of the Company up to the date of
December
31, 2007 (Appendix IV).
|
1.5
|
“Current
Shareholders”
means collectively the shareholders of the Company after reconstruction
and before the Increase in Capital, namely Huhhot Haibo Biological
Production Co., Ltd, China Diamond Limited and Beijing Boda Times
Science
and Trade Co., Ltd.
|
1.6
|
“Effective
Date”
of this Agreement means the date when this Agreement is approved
by the
Examination and Approval Authority after execution by the respective
representative or his/her authorized representatives of the
Parties.
|
1.7
|
“Examination
and Approval Authority”
means Huhhot Municipal Bureau of Commerce or its agent which is competent
to examine and approve this Agreement according to the relevant law
and
regulation.
|
1.8
|
“Confidential
Information”
means all information, unknown by the public and protected by the
owner,
including, without limitation, any information relating to the products,
operations, processes, plans or intentions, product information,
know-how,
intellectual property, design rights, trade secrets, market opportunities
and business affairs etc.
|
1.9
|
“Chinese
Law”
means all the normative documents promulgated by Chinese central
or local
legislation, administration or judicial authorities and applicable
to
China (other than the territories of Hong Kong, Macau and Taiwan),
including but not limited to law, administrative regulation, departmental
rules and judicial interpretation.
|
1.10
|
“Force
Majeure”
means all events which are beyond the control of the Parties and
which are
unforeseen, or if foreseen, unavoidable, and which prevent total
or
partial performance by any Party. Such events shall include but are
not
limited to any lockouts, explosions, shipwrecks, acts of nature or
the
public enemy, fires, flood, sabotage, accidents, strikes, wars, riots,
acts of terrorists, insurrections, inability to obtain transportation,
governmental action and any other similar
contingency.
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2.
|
STRUCTURE
BEFORE INCREASE IN CAPITAL
|
The
capital structure of the Company before the increase in capital shall be as
indicated in the following table:
NO
|
Name
of the shareholder
|
Portion
to capital contribution
|
01
|
Huhhot
Haibo Biological Production Co., Ltd
|
62%
|
02
|
China
Diamond Limited
|
28%
|
03
|
Boda
Times Science and Trade Co., Ltd
|
10%
|
Total
|
100%
|
3.
|
THE
CAPITAL INCREASE
|
3.1
|
The
Purchaser shall make a capital contribution in USD, which shall provide
sufficient capital for Purchaser to own 51% of the outstanding capital
of
the Company (the "Increase in
Capital").
|
3.2
|
According
to the Property Valuation Report, the total value of the net assets
of the
Company at December 31, 2007 is five million five hundred and seventy-five
thousand six hundred and eighteen point eighteen RMB (RMB
5,575,618.18).
|
3.3
|
The
Purchaser shall purchase the Increase in Capital for an amount in
USD
equal to RMB 6,000,000 (the "Purchase Price"). The exchange rate
shall be
the average of the buying and selling rates for US dollars published
by
People’s Bank of China on the same business day as the Completion. The
amount of RMB 520,000 shall be registered capital of the Company,
representing 51% of the registered capital of the Company after the
Increase in Capital, and the balance of the purchase price shall
be
entered as the capital reserve
fund.
|
3.4
|
After
the Increase in Capital, the registered capital of the Company shall
rise
from RMB 500,000 to RMB 1,020,000 (the exact number shall be determined
subject to the contribution verification report and renewed business
license).
|
4.
|
STRUCTURE
AFTER INCREASE IN CAPITAL
|
4.1
|
Upon
completion of the Increase in Capital, the capital structure shall
be as
indicated in the following table:
|
No
|
Name
of shareholder
|
Percentage
Ownership of
Company
equity
|
01
|
Bio-bridge
Science (HK) Co., Ltd
|
51%
|
02
|
Huhhot
Haibo Biological Production Co., Ltd
|
30%
|
03
|
China
Diamond Limited
|
14%
|
`04
|
Boda
Times Science and Trade Co., Ltd
|
5%
|
Total
|
100%
|
4.2
|
The
Company agrees that, except as the Purchaser agrees, the Purchaser's
51%
of the Company's equity shall not be changed during the period from
the
execution of this Agreement to the completion of the Increase in
Capital.
|
5.
|
COMPLETION
|
5.1
|
The
Purchaser shall, within 5 business days after satisfaction of the
Conditions as set forth in Clause 7 or receipt of the written remittance
notice issued by the Company (whichever is the later date), remit
20% of
the Purchase Price to the Company’s designated Bank Account (the
“Completion”).
|
5.2
|
Within
10 business days after the issuance of a contribution verification
report
by a statutory capital verification institution for the Completion,
the
Company shall complete such legal procedures to reflect the change
in
equity interest, and issue a capital contribution certificate to
the
Purchaser.
|
5.3
|
The
balance of the investment shall be made by the Purchaser within two
years
after Purchaser's receipt of written notice of the issuance of the
renewed
business license of the Company.
|
5.4
|
If
the Purchaser fails to make contribution to the registered capital
during
the term specified in 5.3 above and the failure lasts for more than
30
business days following written notice to the Purchaser, the Company
may
have the right to cancel the Purchaser’s remaining right to invest in the
Company and may claim compensation against the Purchaser for breach
of
this Agreement.
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6.
|
RIGHTS
AND OBLIGATIONS OF
SHAREHOLDER
|
6.1
|
According
to the current Chinese Law, after the Completion, the Purchaser will
enjoy
the rights and assume the obligations of a shareholder of the Company,
including but not limited to, the right to select managers, participate
in
decision making through its designated directors, share in profits,
and
Purchaser's liability to the Company shall be limited to the amount
of the
capital contribution it subscribes.
|
6.2
|
Unless
expressly provided in this Agreement or otherwise agreed by all of
the
shareholders of the Company, the Company shall treat each of the
shareholders equally including the
Purchaser.
|
6.3
|
The
Purchaser shall enjoy all rights of a shareholder which shall not
be
inferior to that of any other
shareholders.
|
6.4
|
The
Company shall not award priority to any other shareholders more favorable
than those awarded to the
Purchaser.
|
6.5
|
No
responsibility to be assumed by the Purchaser shall be more burdensome
than that assumed by any other
shareholders.
|
7.
|
CONDITIONS
|
The
Purchaser shall not be obliged to make the Completion, or any other contribution
to the registered capital of the Company required by Clause 5 unless the
following conditions are satisfied or otherwise waived by the
Purchaser:
7.1
|
All
the representations and undertakings made by the Company in this
Agreement
are true and proper in all material respects when made and shall
be true
in all material respects on and as of the Completion Date and each
future
funding date as though made on such date, except for such representations
and warranties that are specifically made as of another date, in
which
case it shall be true and correct in all material respects as of
such
date, and there shall be no occurrences which may have any adverse
effect
on the Company.
|
7.2
|
All
authorizations, consents, waivers, government approvals or other
actions
or proceedings required to be obtained or taken in connection with
the
execution, delivery and performance of this Agreement, the consummation
of
the Increase in Capital, the Completion and each future funding
contemplated hereby shall have been duly obtained or
taken.
|
8.
|
THE
ARTICLES OF ASSOCIATION
|
The
Parties agree to abide by the Articles of Association (Appendix V) adopted
by
the Board for the purpose of the Increase in Capital, and agree that upon the
approval from the Examination and Approval Authority and issuance of the renewed
certificate of registration of the Company, the new Articles of Association
shall, in lieu of the current Articles of Association, constitute the legal
and
binding document regulating the structure and conduct of the Company and
defining the rights and responsibilities between the Company and the
shareholders and among the shareholders.
9.
|
BOARD
OF DIRECTORS
|
9.1
|
The
Board shall consist of the directors appointed by the shareholders,
and
shall be the decision-making authority of the Company
and shall be responsible for making decisions on all material matters
of
the Company.
|
9.2
|
In
order to assure the performance of the Board upon the Completion,
the
composition of the Board shall be adjusted in accordance with the
proportions of the capital contribution made by the Parties. As agreed
by
the Parties, upon the Completion, the Board shall consist of seven
directors, of which, four of them shall be appointed by the Purchaser
and
each of the other three shall be respectively appointed by Huhhot
Haibo
Biological Production Co., Ltd, China Diamond Limited and Beijing
Boda
Times Science and Trade Co., Ltd.
|
9.3
|
Each
director shall be appointed for a term of three years, and may serve
consecutive terms if reappointed by the Party which originally appointed
him and may serve concurrently as a senior manager such as the General
Manager and Deputy General Manager as approved by the
Board.
|
9.4
|
One
of the directors appointed by the Purchaser shall serve as the Chairman
of
the Board and the legal representative of the Company, and may serve
consecutive terms upon re-appointment of the
Purchaser.
|
9.5
|
Each
Board meeting or Board action requires a quorum of five directors
present
in person or by proxy, and the quorum must include at least three
directors appointed by the
Purchaser.
|
9.6
|
All
directors (including the Chairman), in general, shall serve without
any
remuneration, but (i) the Company shall reimburse the reasonable
expenses
of directors in attending meetings of the Board; (ii) a director
is
entitled to receive remuneration and compensation of expenses for
performance of special tasks assigned by the Board within the budget
terms
that are approved by the Board; and (iii) the Company shall pay for
general errors and omissions insurance for the directors so as to
ensure
maximum protection for the
directors.
|
9.7
|
No
director shall bear any liability for any acts performed in his capacity
as a director except for such acts knowingly in violation of laws
or
regulations, gross negligence and willful misconduct. The directors
shall
exercise their powers in good faith and within the scope of authority
determined or delegated by the
Board.
|
9.8
|
The
Board shall establish a Financial and Salary Committee which will
be
comprised of three Board members, two of whom must be appointed by
the
Purchaser. The Committee is entitled to supervise the financial and
accounting matters including but not limited to, approval of the
budget of
the Company, preparation and approval of the employee remuneration
plan
and the internal audit of the
Company.
|
10.
|
GENERAL
MANAGER
|
10.1
|
The
Company shall adopt a business management structure which shall consist
of
such Senior Managers as General Manager, Deputy General Manager,
Chief
Financial Officer, and Chief Technical Officer, etc.
|
10.2
|
The
Company shall initially have one General Manager and two Deputy Managers,
and the General Manager, Deputy Managers, Chief Financial Officer,
and
Chief Technical Officer shall all be approved by Board
action.
|
10.3
|
The
first General Manager of the Company shall be nominated by Huhhot
Haibo
Biologic Production Co., Ltd, and the Chief Financial Officer shall
be
nominated by the Purchaser, but the Board shall have the right to
replace
these and any other managers.
|
11.
|
FINANCIAL
AFFAIRS AND ACCOUNTING
|
11.1
|
The
Company shall establish a sound financial system in accordance with
the
relevant PRC regulations.
|
11.2
|
The
Company shall pay various types of tax pursuant to the relevant national
and local laws and regulations of China, and shall apply for all
types of
preferential tax treatment permitted by the Chinese
law.
|
11.3
|
The
Company shall, according to the provisions of PRC Chinese-Foreign
Equity
Joint Ventures Law and its implementing rules, the PRC Company Law
and
other relevant regulations, make allocations to various types of
funds,
the proportion of which shall be proposed by General Manager and
determined by the Board.
|
11.4
|
The
Company shall be audited in accordance with the various PRC laws
and
regulations.
|
12.
|
INFORMATION
PROVIDED BY THE COMPANY TO
SHAREHOLDERS
|
12.1
|
So
long as the Purchaser holds any equity interest in the Company, the
Company shall send to the Purchaser the information of the Company
and its
subsidiaries as follows:
|
a)
|
unaudited
monthly financial reports and business reports formulated as per
Chinese
audit standard within seven days after the end of each
month;
|
b)
|
unaudited
quarterly financial reports and business reports formulated as per
Chinese
audit standard within ten days after the end of each
quarter;
|
c)
|
consolidated
financial reports and business reports which have been formulated
as per
Chinese audit standard and audited by an accountant approved by the
Purchaser within twenty days after the end of each financial
year;
|
d)
|
the
budget report of the next financial year of the Company and its
subsidiaries 45 days prior to the commencement of the next financial
year;
and
|
e)
|
any
other information required to be provided to the shareholders according
to
Chinese Law, the Articles of Association of the Company or this
Agreement.
|
12.2
|
Upon
reasonable notice, the Purchaser shall have the right to examine
the
financial books and records of the Company, and Purchaser, may seek
advice
from its consultant, employees, independent accountant and legal
counsel.
|
13.
|
REPRESENTATIONS
AND UNDERTAKINGS OF THE
COMPANY
|
The
Company hereby represents and warrants to the Purchaser that:
13.1 The
Company is duly incorporated with limited liability and is validly
good standing under the laws of China, and holds and has the absolute
right to
execute and perform this Agreement as the legal and beneficial owner.
There is
no termination or dissolution of the Company under the PRC laws, regulations
and
the current Articles of Association of the Company.
13.2 All
necessary
corporate action has been taken to authorize the Company to execute and
deliver
this Agreement and perform the transactions contemplated by this
Agreement.
13.3 The
contributions to
the registered capital of the Company prior to the Increase in Capital
have been
legally, properly and effectively made by the current shareholders. There
is no
financial assistance or pledge made available by the Company to the current
shareholders or for their contributions.
13.4 There
is no pledge,
restriction, trust or any other limitation created upon equity interests
held by
the current shareholders.
13.5 The
Company has obtained or possesses all the intellectual property and
regulatory qualifications required for its operations. The Company is
operating
in the normal course of business, and there is no change which is abnormal
or
will have adverse effect on its property (including intangible assets),
capacity, claims and debts, interests and financial status.
13.6 The
management and working personnel of the Company are stable, and their
remuneration and other welfare benefits have not been changed substantially
recently.
13.7 The
Company has at all times and does now in all material respects abide
by the applicable laws, including but not limited to the laws concerning
(i)
development, testing, manufacturing, labeling, distribution, marketing
and
service; (ii) employment, safety and health; (iii) construction, environmental
protection, taxation and use of land. The Company has received no notice
from
any authority rendering it in violation, non-abidance with the laws or
threatening to withdraw any authorization, consent, approval, franchise
rights,
license or certificate it has obtained.
13.8 The
execution and
delivery of this Agreement and the performance by the Company of its
obligations
hereunder will not contravene or constitute a default under any provision
contained in any agreement, instrument, law, judgment, order, license,
permit or
consent by which the Company or any of its assets is bound or
affected.
13.9 For
the purpose of this Agreement, all the information and documents
disclosed by the Company to the Purchaser, including but not limited
to the
audit report and the balance sheet, are in all aspects true, precise,
objective
and complete, and there shall be not false or misleading statement or
omission.
There Company has no incidental or undisclosed debts or
obligations.
13.10
The Increased Capital shall be mainly used in the development
andadministration
of the Company.
14.
|
REPRESENTATIONS
AND UNDERTAKINGS OF THE
PURCHASER
|
The
Purchaser hereby represents and warrants to the Company that:
14.1
|
The
Purchaser is duly
incorporated with limited liability and validly existing under the
laws of
Hong Kong, and holds and has the absolute right to execute and perform
this Agreement as the legal and beneficial owner. There is no termination
and dissolution under the applicable laws, regulations and the current
Articles of Association of the
Purchaser;
|
14.2
|
All
necessary corporate action has been taken to authorize the Purchaser
to
execute and deliver this Agreement and perform the transactions
contemplated by this Agreement;
|
14.3
|
The
Purchaser shall make its contributions according to the terms, methods
and
amount specified in this Agreement, and shall enjoy the rights and
assume
the obligations as a shareholder of the Company;
and
|
14.4
|
The
Purchaser shall execute and deliver such documents and perform all
such
acts and things as required by the relevant authorities to carry
out the
registration for the Increase in Capital, and shall provide necessary
assistance thereunder.
|
15.
|
TERMINATION
|
15.1
|
During
the term of this Agreement, no Party may
arbitrarily amend or determine this
Agreement.
|
15.2
|
If
any wrongful modification or termination causes loss to other Party,
the
responsible Party shall be required to give reasonable compensation
to the
impaired Party.
|
15.3
|
Any
Party that proposes to amend, complement, modify or terminate this
Agreement, shall send the other Party written notice no less than
10
working days prior to the proposed change. This Agreement shall remain
binding on the Parties unless an amendment is expressly approved
by both
Parties in writing.
|
15.4
|
The
amendment, complement, modification or determination of this Agreement
shall not impair or affect the other Party’s right to any other remedies
accrued to it prior to the date of such
action.
|
16.
|
DEFAULT
AND FORCE MAJEURE
|
16.1
|
The
Parties shall abide by the Agreement, and perform the obligations
provided
in this Agreement. Any breach or failure to perform this Agreement
shall
be a default of this Agreement, and the breaching Party shall be
liable
for such default and compensate the other Party for the loss so suffered.
If this Agreement is unable to be performed or entirely performed
due to
the breach or failure attributable to both Parties, with the exception
of
Force Majeure, the loss shall be determined and born on the basis
of the
respective fault of each of the
Parties.
|
16.2
|
During
the term of this Agreement and to the extent that any of the Parties
is
unable to perform its contractual obligations under this Agreement
as a
result of an event of Force Majeure, the suffered Party(ies) shall
be
exempted entirely or partially from such contractual obligations
without
penalty. In the event of a Force Majeure, the Parties shall endeavour
to
minimize the consequences of such Force Majeure. At the same time,
the
Party encountering the Force Majeure shall promptly inform the other
Party
in writing and shall furnish the other Party with appropriate proof
of the
occurrence and duration of such Force
Majeure.
|
16.3
|
During
the Force Majeure, the Party encountering Force Majeure shall continue
to
perform the part of the obligations unaffected by such an event according
to this Agreement. Once the event of Force Majeure disappears, this
Agreement shall resume to its entire performance, unless the other
Party
deems it as unnecessary. The Parties may also, depending on the extent
that this Agreement is affected by the Force Majeure, hold a consultation
with the other Party on whether to extend the term of this Agreement
or to
terminate the affected part of this
Agreement.
|
16.4
|
Where
a delay is caused by a Party in performing its obligations and then
an
event of Force Majeure occurs thereafter, there shall be no excuse
for
such Party to be exempted from any of its
liabilities.
|
17.
|
CONFIDENTIALITY
|
17.1
|
During
the term of this Agreement and for a period of two years from the
date of
termination or expiration of this Agreement for any reason whatsoever,
no
Party may, without a prior written consent of the other Party, disclose
any matter concerning or connected with this Agreement (including
this
Agreement itself) to any third party, except for (i) disclosure to
their
respective employees, financial advisers, legal counsel, accountants
and
valuers so long as such persons are advised of this Agreement or
(ii)
public disclosure by Purchaser as required by United States securities
law.
|
17.2
|
Any
Party that receives any Confidential Information from the other Party
during the execution and performance of this Agreement shall keep
it
confidential , and shall not make use of or disclose the Confidential
Information without the prior written consent of the other Party.
The term
of Confidential Information herein shall not apply to any Confidential
Information which:
|
a)
|
was
obtained lawfully from any third party which is free of the duty
to keep
such information confidential;
|
b)
|
was
proved having been obtained by the receiving party before the disclosure
of such Confidential Information;
|
c)
|
comes
into the public domain other than through breach of this Agreement
by the
receiving party;
|
d)
|
was
disclosed according to the order of judicial or administrative
authority;
|
e)
|
was
disclosed according to the provisions of PRC or United States
Law.
|
17.3
|
Any
Party that legally discloses this Agreement and the Confidential
Information shall, give a prior notice, or if impossible, as soon
as
practicable afterward, to the other Party informing the content,
extent
and method of the disclosure.
|
18.
|
APPLICABLE
LAW AND SETTLEMENT OF
DISPUTES
|
18.1
|
The
validity, performance, modification, termination, interpretation,
effectiveness, jurisdiction and settlement of disputes of this Agreement
shall be governed by relevant and published Chinese Law (other than
the
laws and regulations of Hong Kong, Macau and
Taiwan).
|
18.2
|
If
a dispute of any kind whatsoever arises in connection with this Agreement,
the Parties shall use all reasonable endeavours to resolve the dispute
through amicably consultation or mediation. In the event that the
dispute
cannot be resolved by consultation or mediation within sixty days
after
the occurrence of dispute, each Party may submit such dispute to
arbitration in Beijing by China International Economic and Trade
Arbitration Commission. Any awards made by the arbitral tribunal
shall be
final and binding on the Parties.
|
18.3
|
When
any dispute occurs and when any dispute is under arbitration, except
for
the matters under dispute, the Parties shall continue to fulfill
their
respective obligations under this
Agreement.
|
18.4
|
The
invalidity of any provision of this Agreement shall not affect the
validity of any other provisions of this
Agreement.
|
19.
|
EFFECTIVENESS
AND TERM OF THIS AGREEMENT
|
19.1
|
This
Agreement shall come into effect immediately upon the respective
chops and
signatures of the legal representatives or its authorized representatives
of the Parties and approval of the Examination and Approval Authority,
and
once so executed and approved, shall constitute a legal and binding
document between the Parties.
|
19.2
|
This
Agreement shall be terminated when both parties fulfill their rights
and
obligations.
|
19.3
|
The
termination of this Agreement shall not affect the rights or obligations
accrued by the Parties before termination.
|
20.
|
MISCELLANEOUS
PROVISIONS
|
20.1
|
Any
notice or other communication so served under this Agreement shall
be in
writing and shall be delivered personally or sent by facsimile, registered
mail or telegraph to the address as specified
below.
|
20.2
|
The
contact details of the Parties are:
|
If
to
the Company, to:
Address:
the Industrial Area of Baimiaozi Town, Tumote Zuoqi, Xxxxxx Xxxx,
000000
Tel:
0000-0000000 Facsimile: 0471-8050808
E-mail:
xxx0000@000.xxx
Marked
for the attention of: Xx. Xx Yongsheng
If
to the Purchaser, to:
Address:
Room 1812 Moma Bldg, No. 000 Xxxxxxxx Xxxxx Xxxx, Xxxxxxxx Xxxxxxxx, Xxxxxxx,
Xxxxx, 000000
Tel:
000-00000000 Facsimile: 010-85961286
E-mail:
xxx@xxx-xxxxxx.xxx.xx
Marked
for the attention of: Xx. Xxxx Zhan
or
to
such other person, address or facsimile number as any Party may specify by
notice in writing to the others.
20.3
|
Should
there be anything not included in this Agreement, a supplementary
agreement may be executed by both Parties, and such shall constitute
an
integrated part of this Agreement, if there is any conflict or
inconsistency between the provisions of this Agreement and the
supplementary agreement, the supplementary agreement shall
prevail.
|
20.4
|
The
rights and obligations of each Party hereunder shall not be assignable
without the express written consent of the other
Party.
|
20.5
|
This
Agreement shall be executed in six originals, each of the Parties
may hold
one copy, and may also be signed in any number of counterparts, all
of
which taken together shall constitute one and the same
instrument.
|
IN
WITNESS WHEREOF
each of
the Parties hereto has caused this Agreement to be executed by its duly
authorised representative on the date first set forth above.
SIGNED
by
|
(
|
/s/
Li Yongsheng
|
)
|
for
and on behalf of
|
Huhhot
Xinhengbaide Biotechnology Co., Ltd
|
SIGNED
by
|
(
|
/s/
Xxxxxx Xxx
|
)
|
for
and on behalf of
|
Bio-Bridge
Science (HK) Co., Ltd
|
APPENDIX
I.
|
Resolution
of the Board of Huhhot Xinhengbaide Biotechnology Co.,
Ltd(omitted)
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II.
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Audit
Report of Huhhot Xinhengbaide Biotechnology Co., Ltd
(omitted)
|
III.
|
Property
Evaluation Report of Huhhot Xinhengbaide Biotechnology Co., Ltd
(omitted)
|
IV.
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Balance
Sheet of Huhhot Xinhengbaide Biotechnology Co., Ltd
(omitted)
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V.
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Articles
of Association of Huhhot Xinhengbaide Biotechnology Co., Ltd
(omitted)
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