EXHIBIT 10.15
CONTRACT MANAGEMENT AGREEMENT Likang Xxxxxxx
000x XXX Agreement with Lease appendix 20051213
PARTY A: SHANGHAI SHANHAI GROUP
PARTY B: SHANGHAI LIKANG DISINFECTANT HIGH-TECH CO, LTD.
Party A, as one of Party B's shareholders, enjoys the investment return right.
At the same time the Party A explicitly pledged that it does not participate in
the production management of Party B. While Party B's another shareholder is
responsible for Party B's production management. Therefore, unanimously agreed
by both sides, it is decided that Party B implemented the contract management to
Party A's investment in the enterprise. According to the above, both sides sign
this agreement as follows:
1. Party A does not participate in the production management of Party B.
Party B is responsible for its independent legal business within
authorized business scope.
2. Party B is responsible for the Party A's investment in this enterprise
and to guarantee the security and the reasonable repayment of party A's
investment.
3. Party A gets annual fixed after-tax returns based on its investments of
RMB 500,000 (US $62,500). The returns are calculated as 4 percentage
points plus the corresponding period bank floating capital loan datum
interest rate.* If party B's distributable profit is lower than this
contract sign, the insufficient will be made up by party B's operators
by their own fund.
4. As to the portion that surpasses the contract fixed returns, except
employee welfare fund that's required by law will be shared by
investors when the enterprise is liquidated according to the investment
ratio, other distributable profit all will be held by party B and the
enterprise's other shareholders.
5. Party B's business operation must abide all the relevant national laws,
regulations and policy rules. The enterprise should pay taxes legally
and pays each expense. At the same time it should positively develop
the market and strengthen the internal management. Within the contract
management period, if the enterprise loss for continuously two years,
or because the Party B violates the related stipulation to create the
economic loss, the Party At is authorized to request the Party B to
terminate the contract management. And Party B should compensate the
loss by its operator's assets.
6. Within the contract period, Party B should provide the financial
statements to Party A in time and accepts the audit by Party A and the
Senior authority; When second party recruiting of workers, it should
first hire the personnel the Party A recommends.
7. Within the contract period, Party B is responsible for the security,
fire protection, and guard against theft work of enterprise's location,
building and its periphery. Within the contract period, if there is
related accident, Party B is responsible to process and to undertake
the responsibility; Party B should accept the government's inspection
and the instruction actively.
8. The contract period is 5 years, from Jan 1, 2005 to Dec 30, 2009.
9. Within Contract period, both sides should strictly abide this
agreement. Any side all must undertake the law and the economical
responsibility for its own default behavior; if the two parties have
the different opinion, they should negotiate the solution as far as
possible.
10. As for other matters concerned, the two parties will negotiate
separately, and sign the subsidiary agreement. The subsidiary agreement
have the same efficacy with this agreement.
11. This agreement has four copies. It becomes effective after both sides
sign and seal. Each party holds two copies respectively, which has the
same efficacy.
PARTY A: SHANGHAI SHANHAI GROUP
(Signature and Stamp)
Xxxxxxx Xxxx
Date: January 1, 2005
PARTY B: SHANGHAI LIKANG DISINFECTANT HIGH-TECH CO, LTD.
(Signature and Stamp)
Xxxxxxx Xxxx
Date: January 1, 2005
Appendix: Based upon negotiation on December 13, 2005, both parties agreed to
the amount of US$9,375 (RMB 75,000) per year as an addition to the office rent.
