Agreement Regarding Transfer of Properties
on 38th Floor, Guomao Building
Parties: Super Concord Ltd. (Party A)
XxxxxX.xxx Information Technology Co. Ltd. (Party B)
It is hereby agreed by both parties that Party A will transfer its property
(Room 3805- Room 3809, totaling 387.5 square meters) to XxxxxX.xxx Information
Technology Co. Ltd., a subsidiary of Intermost Corporation; and Party B agrees
to exchange such property with restricted Intermost Corporation OTCBB listed
stocks (IMOT).
1. The details of exchange should be based on the following factors:
(a) the property is appraised at RMB3.85 million, US dollar -RMB
conversion rate is 8.3, the property is valued at US$463,200;
(b) the Party B will issue stocks based on US$347,400, discount factor is
set at 0.25;
(c) Intermost stock price is set at US$4.5 per share;
(d) The total number of stock will be issued to Party A is 77,200 shares.
2. It is further agreed that Party B will continue to its rent to Party A or
its appointees until Party A receives the above mentioned stock in full and
in its name. Such payment begins on November 1999, with RMB 15,180 per
month.
(a) Rent rate continues as agreed in previous lease agreement;
(b) Net rent of RMB 15,180 is payable to Party A, other expenses
(utilities, management fee) is payable to Property Management Company;
(c) Such payment will be terminated once Party A receives the stocks.
3. The agreement is effective upon the signing of both parties.
4. The agreement has tow copies, with each party holds one each.
Signed by:
Super Concord Ltd.
XxxxxX.xxx Information Technology Ltd. Co.
Dated November 30, 1999
