Termination Agreement
Exhibit 10.18
| Party A: | Xxxxxx Xxxx |
| ID Number: | 000000000000000000 |
| Address: | Xx.0 Xxxxx 0, Xxxx Xxxxxxx, Xxxxxx Xxxxxx, Xxxxxx Xxxx, Xxxxxx Xxxxxxxx. |
| Party B: | Xxxxx Xxx |
| ID Number: | 000000000000000000 |
| Address: | Room 408, Xxxxxxxx 0, #0-00 Xxxx Xxxxxxxx Xxxx Xxxxxx Xxxx Xxxxxx Xxxxxxxx. |
| Party C: | Roller Rome Limited |
| Legal Address: | Sea Meadow House, Blackburne Highway, Toad Town, Tortola, British |
| Virgin Islands. |
This Termination Agreement is to terminate the agreement entered into by Party A, Party B and Party C on December 18, 2006 (the “Agreement”) whereby Party C shall have the right to acquire and enjoy all of the equity interests of Hongri (Fujian) Sporting Goods Co., Ltd. (“Hongri”).
Given that Hongri will be changed to a wholly foreign owned enterprise through the share restructuring, Party C agrees to waive all of the rights and interests under the Agreement, which will take effect from the date when Hongri obtains the business license as a wholly foreign owned enterprise.
This Termination Agreement shall be executed in three counterparts with each party holding one counterpart.
Date: January 31, 2011
Party A: Xxxxxx Xxxx
/s/ Xxxxxx Xxxx
Party B: Xxxxx Xxx
/s/ Xxxxx Xxx
Party C: Roller Rome Limited
Authorized Representative: /s/ Xxxxx Xxx on behalf of Roller Rome Limited
