COST SHARING AGREEMENT
THIS AGREEMENT is dated the 1st day of July, 2006.
BETWEEN:
MINCO MINING & METALS CORPORATION, located at Suite 1980 - 0000 Xxxx Xxxxxxxx Xxxxxx, Xxxxxxxxx, X.X., X0X 0X0
("Minco")
AND:
MINCO SILVER CORPORATION, located at Suite 1980 - 0000 Xxxx Xxxxxxxx Xxxxxx, Xxxxxxxxx, X.X., X0X 0X0
("Minco Silver")
AND:
TRANZCOM CHINA SECURITY NETWORKS INC., located at Suite 1980 - 0000 Xxxx Xxxxxxxx Xxxxxx, Xxxxxxxxx, X.X., X0X 0X0
"Tranzcom")
AND:
AQUASOL ENVIROTECH LTD., located at Suite 1980 - 1055 Xxxx Xxxxxxxx Xxxxxx, Xxxxxxxxx, X.X., X0X 0X0
(“Aquasol”)
(hereinafter collectively referred to as the “Sub-Tenants”)
WHEREAS:
A.
Minco has entered into an agreement with Guinness Tower Holdings Ltd. and Omers Realty Corporation to lease the premises located at Xxxxx 0000, 0000 Xxxx Xxxxxxxx Xxxxxx, Xxxxxxxxx, X.X., X0X 0X0 (the “Premises”);
B.
Minco and the sub-tenants have entered into a cost sharing agreement dated October 1, 2004 and Minco and the sub-tenants agree that this agreement shall replace all other existing agreement(s) in their entirety.
C.
Minco wishes to enter into an agreement with the sub-tenenats to share in the office expenses for the Premises as more specifically described below.
NOW THEREFORE it is hereby agreed as follows:
1.
Minco and the Sub-Tenants agree that the shared expenses will include the following:
a.
Office Rental cost on a percentage basis (the “shared expenses”) as more particularly described below:
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Minco | Trancom | Minco Silver | Aquasol | TOTAL | ||
Rent | 42% | 15% | 35% | 8% | 100% | |
Parking | ||||||
Stall #1 | 50% | 15% | 35% | 100% | ||
Stall #2 | 60% | - | 40% | 100% | ||
Stall #3 | 50% | 15% | 35% | 100% | ||
Stall #4 | 50% | 15% | 35% | 100% | ||
Shared Office Expenses | 50% | 15% | 35% | 100% | ||
Annual Charge Back | $300.00 | |||||
2.
Minco and the Sub-Tenants agree that the Controller of Minco is hereby authorized to allocate the shared expenses on the percentage basis as more particularly described above in 1(a) of this Agreement.
3.
Minco will invoice on a monthly basis to the Sub-Tenants and the Sub-Tenants agree to reimburse Minco accordingly.
4.
Minco will invoice on a monthly basis to the Sub-Tenants for shared employee salaries and benefits which will be invoices on actual time spent and the Sub-Tenants agree to such expenses.
IN WITNESS WHEREOF the parties hereto have caused these presents to be executed as and from the day, month and year first above written.
MINCO MINING & METALS CORPORATION
C/S
Authorized Signatory
MINCO SILVER CORPORATION
C/S
Authorized Signatory
TRANZCOM CHINA SECURITY NETWORKS INC,
C/S
Authorized Signatory
AQUASOL ENVIROTCH LTD.
C/S
Authorized Signatory
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