EXHIBIT 4.19
TRANSLATION
TENANCY AGREEMENT
Party A: XxxxXxxx Xxxxxx Xxxx Xxxxxxxxx Xxxxxxxxxx Xxxxxx Committee
Party B: Jetcrown Industrial (DongGuan) Limited
Since the existing tenancy agreement will soon expire, through the
sufficient negotiation of Party A and Party B and according to the principles of
fairness and mutual benefit, the Parties agree to sign the following terms and
conditions regarding the renewal of the tenancy agreement: -
(1) Party B will continue to lease the block of industrial building with
an area of 5,210 square meters at Huangguan Industrial Estate "Wai Min
Chin" (a local name); the block of dormitories with an area of 3,410
square meters, (the total area of factory and dormitories is 8,620 square
meters) from Party A for running his manufacturing production of
electronics, plastics and metal precision etc.
(2) The factory and dormitories provided by Party A will be charged at a
unit rate at DOLLARS EIGHT RENMINBI (RMB8.00) per square meter per
month. The tenancy period is thirteen and a half months, starting from
February 16, 2002 to March 31, 2003. Rentals shall be paid in arrears and
on or before the 15th day of each month. Regarding the rental deposit of
DOLLARS TWO HUNDRED THOUSAND RENMINBI (RMB200,000.00) paid by Party B for
the previous tenancy agreement will still hold by Party A. This deposit
will be used to setoff the rental during the latter period of the
agreement and the amount will be cleared at last.
(3) RESPONSIBILITIES OF BOTH PARTIES:
1. Party A should help Party B zealously in handling all kinds of
affairs and procedures during the production and development
processes. Party B should comply with the Government Policy,
exercising the management system of the local city and town
governments. Party B should pay all kinds of tax and other
charges of the relevant government departments. Party B should
also ensure its production are in a safe manner.
2. Before hand over the factory to Party B, Party A should make
sure the factory is clean and in good condition. The
fire-fighting system is installed properly. Party A should
provide water and electricity to the enclosing wall of the
factory. The other relating facilities will be responsible by
Party B. Party B should purchase estate insurance for the
factory and facilities according to the country's relevant
Enterprise Management Regulation.
3. During the process of production and running business, if
Party B wants to alter the existing factory structure, he
should negotiate with Party A first. If the damage of the
factory is due to Party B's usage, he should be held
responsible to repair it. If there is an occurrence of any
natural disasters, and as a result, the factory was damaged,
it will be solved by both parties.
4. If Party B wants to terminate the contract before its expiry,
he should inform Party A three months before, and they should
negotiate on those relevant terms.
(4) The aforementioned agreement is certified by both parties and agreed
in consistent. The agreement takes effect from the date they signed it.
This agreement is in duplicate, Party A and B will have one copy each,
which are of equal validity.
Party A: DongGuan Houjie Party B: Jetcrown Industrial (DongGuan)
Town Huangguan Limited
Industrial Estate
Committee
Representative: Wan Yui Xxxx Representative: Kam Xxx Xxx
Place of signing the agreement: Estate government of Xxxxxxxxx Xxxxxxxxxx
Xxxxxx, Xxxxxx Xxxx, Xxxxxxxx.
Date of signing the agreement: February 15, 2002
