OPERATING AGREEMENT
EXHIBIT 10
This Operating Agreement, dated June 17, 2010, is by and among China Forestry, Inc., a Nevada corporation (“CHFY”), Financial International (Hong Kong) Holdings Co. Ltd., a company organized and existing under the laws of the Hong Kong SAR of the People’s Republic of China (“FIHK”); LIU, Shengli, the owner of 60% of the outstanding share capital of FIHK (“Liu”), and XX, Xxx, the owner of 40% of the outstanding share capital of FIHK (“Li”) (Liu and Li collectively being the “Shareholders”), and Hanzhong Hengtai Bio-Tech Limited, a company organized and existing under the laws of the People’s Republic of China (“Hengtai”); FIHK and Hengtai being hereinafter referred to as the “FIHK Companies.”
1.
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Operation of Xxx Xxxx Global Post-Closing. CHFY, the Shareholders and FIHK hereby agree that CHFY shall operate Xxx Xxxx Global in the ordinary course of business after the Closing of the Share Exchange Agreement for a period of at least 90 days to enable the Board of Directors of CHFY to determine whether Xxx Xxxx Global fits in the business plan of CHFY or should be disposed of.
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2.
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Certain Incidental Costs Associated With Operating Xxx Xxxx Global. CHFY, the Shareholders and FIHK hereby agree that any costs associated with auditing Xxx Xxxx Global that may arise after the Closing of the Share Exchange Agreement shall be borne by CHFY.
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3.
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Governing Law. This Operating Agreement shall be governed and construed in accordance with the laws of the state of Nevada.
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CHINA FORESTRY, INC. |
HANZHONG
HENGTAI BIO-TECH LIMITED
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By |
/s/ Xxxx, Xxxx
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By |
/s/ XXXX XXXXXXXX
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XXXX, Xxxx
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Xxxx Zhenheng
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Chief Executive Officer
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Legal Representative
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FINANCIAL INTERNATIONAL (HONG
KONG) HOLDINGS COMPANY LIMITED
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By | /s/ Liu, Xxxxxxx | |
XXX, Shengli | ||
Sole Director | ||
LIU, Shengli | ||
By | /s/ Liu, Xxxxxxx | |
XXX, Shengli | ||
Owner of 60% of the outstanding share capital of Financial International (Hong Kong)
Holdings Company Limited
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XX, Xxx | ||
By | /s/ Li, Xxx | |
XX, Bin | ||
Owner of 40% of the outstanding share capital of Financial International (Hong Kong)
Holdings Company Limited
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