Supplemental Agreement for the Relocation and Construction Project with Chisen Electric Company Limited
Supplemental
Agreement for the Relocation and
Construction
Project with Chisen Electric Company Limited
Party A:
Administrative Committee of Changxing Economic Development Zone,
Zhejiang
Party B:
Changxing Chisen Electric Co., Ltd
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I.
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This
supplemental agreement is made pursuant to the requirements of the
Investment Agreement on the relocation project of Changxing Chisen
Electric Co., Ltd signed between party A and party B, whereby Party A
agrees to compensate Party B when the conditions of payment and tax scale
are satisfied.
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1.
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After
all costs of land transfer (prepayment of land) are settled by Party B,
and the construction of main building has started in accordance with the
pre-agree schedule, Party A compensates RMB 30,000 per hectare to Party B
within the boundary map.
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2.
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After
all costs of land transfer (prepayment of land) are settled by Party B,
and the construction of main building has completed in accordance with the
pre-agree schedule, Party A compensates RMB 30,000 per hectare to Party B
within the boundary map.
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3.
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After
Party B starts production, Party A compensates RMB20,000 per hectare to
Party B within the boundary map.
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4.
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Party
A will prepay the above compensations to the Party B. When the levied
taxes on relocation project are less than RMB12.08 millions in 2012, Party
B should refund RMB40,000 per hectare within the boundary map to Party A.
When the levied taxes on Party B’s project in Economic Development Zone
are less than RMB100 millions in 2013, Party B should refund RMB40,000 per
hectare within the boundary map to Party
A.
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II.
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This
agreement is a supplement of Investment Agreement No. 01017-1 with the
same legal effect. In the event of conflict between both agreements, the
provisions of this Supplemental Agreement shall
prevail.
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III.
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This
Supplemental Agreement has six duplicates and signed at the same time of
Investment Agreement No. 01017-1. This Supplemental Agreement
is effective after it is signed and sealed by both
parties.
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Party A:
Administrative Committee of Changxing Economic Development Zone,
Zhejiang.
Signed
and sealed by the legal representative:
Party B:
Changxing Chisen Electric Co., Ltd
Signed
and sealed by the legal representative: Xx Xxxxxxx
