Acknowledgment and Amendment Letter
Exhibit
10.20
Acknowledgment and Amendment
Letter
THIS ACKNOWLEDGMENT
AND AMENDMENT LETTER (this
“Letter”), is dated as of May 15, 2010, by and
between China Yongxin Pharmaceuticals Inc., a Delaware corporation (the “Seller”) and PmMaster Beijing Software Co.,
Ltd (the “Purchaser”) (collectively, the “Parties”). Capitalized terms
used herein and not otherwise defined shall have the meanings assigned to them
in the Stock Purchase Agreement by and between the Seller and Purchaser on March
1, 2010 (the “Agreement”). Subject
to the modifications and amendments provided herein, all other terms under
the Agreement shall remain in full force and effect.
RECITALS
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A.
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On
March 1, 2010, Purchaser purchased from Seller and Seller sold,
transferred and delivered to Purchaser, all of the equity interests in the
Subsidiaries (as defined in the Agreement) for a total consideration of
$20,000 (“Purchase
Price”).
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B.
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For
the sake of clarity, the Parties wish to amend Section 2.2 of the
Agreement to clarify that the Purchase Price is paid by the Purchaser in
exchange of all of the assets and liabilities of the
Subsidiaries.
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NOW,
THEREFORE, the Parties
hereby acknowledge and agree that Section 2.2 of the Agreement shall be amended
and replaced in its entirety as follows:
“Section 2.2 Purchase
Price. For the consideration of $20,000 (“Purchase
Price”), the Purchaser
shall purchase all of the assets and assume all of the liabilities of the
Subsidiaries.”
IN WITNESS
WHEREOF, the undersigned
Parties have executed this Letter as of the date first written
above.
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PURCHASER:
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SELLER:
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PmMaster
Beijing Software Co., Ltd
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/s/ Xxxx Gang
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/s/ Yongixin Liu
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Name:
Xxxx
Gang
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Name:
Xxxxxxx Xxx
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Title:
Chief Executive Officer
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Title:
Chief Executive Officer
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