Supplementary Agreement for Termination Agreement of Equity Acquisition By and between AGM Technology Limited and SIFT Capital Partners Limited December 2019
Exhibit 10.2
Supplementary Agreement for Termination Agreement of Equity Acquisition
By and between
AGM Technology Limited
and
SIFT Capital Partners Limited
December 2019
This Supplementary Agreement (“this Supplementary Agreement”) is made on this day of December 30, 2019 by the Parties as follows:
(1) | AGM Technology Limited (“the Buyer”), an entity established and existing under the laws of Hong Kong Special Administrative Region, the company number is 2240774 at the Company Registry, with its registered address at 10/F, Hong Kong Offshore Centre, No 28 Austin Avenue, Tsim Sha Tsui, Kowloon, Hong Kong. |
(2) | SIFT Capital Partners Limited (“the Seller”), an entity established and existing under the laws of Hong Kong Special Administrative Region, the company number is 1386100 at the Company Registry, with its registered address at Floor 00, Xxx Xxx Xxxxxxxx, XxxXxxxx Xxxx Xxxxxxx, Xxxxxxx, Xxxx Kong. |
Whereas:
1. | The Parties signed the Equity Acquisition Agreement (the “Original Acquisition Agreement”) in Hong Kong in May 22, 2018; |
2. | The Parties signed the Termination Agreement for Equity Acquisition (“the Termination Agreement”) in Beijing on December 30, 2019. |
After friendly consultations, the Parties hereby agree as follows:
1. | The listed equity, the Buyer’s parent company, shall disclose the Termination Agreement for Equity Acquisition within five working days after signing the Termination Agreement for Equity Acquisition by both Parties; |
2. | The Seller’s shareholders (the signers of this Termination Agreement) Xxxxx Xxxx and Zhang Zhe shall, after the disclosure of the Termination Agreement, refund HK$1,000,000 to the Buyer before January 31, 2020, and refund HK$200,000 to the Buyer before March 31, 2020; |
3. | The Buyer agrees and understands that the amount of the Buyer’s advance payment made to the Seller’s shareholders Xxxxx Xxxx and Xxxxx Xxx in excess of HK$800,000 and HK$400,000 returned by Xxxx Xxxx and Zhang Zhe, respectively, is actually the compliance and necessary costs incurred by the Seller in the execution of the Original Acquisition Agreement. The Buyer has no recourse. |
4. | All the debts and fees between the Parties shall be settled upon the Buyer receives the HK$800,000 and HK$400,000 returned by the Seller’s shareholders Xxxxx Xxxx and Zhang. |
This Agreement is made in triplicate, one for the Buyer and one for each of shareholders of the Seller. In witness whereof, each of the Parties hereto has caused this Agreement to be executed by its duly authorized representative in Beijing, China on the date first set forth above.
AGM Technology Limited | ||
/s/ Xxxx Xxxxxx | ||
Authorized Representative: Xxxx Xxxxxx | ||
SIFT Capital Partners Limited | SIFT Capital Partners Limited | |
/s/ Xxxx Xxxx | /s/ Zhang Zhe | |
Shareholder: Xxxx Xxxx | Shareholder: Zhang Zhe |