Supplementary Agreement to the Call Option Agreement
Supplementary
Agreement to the Call Option
Agreement
Whereas,
on Oct 30th 2009,
Xu Hong Bing and Golden Wind Holdings Limited (collectively called the “seller”)
signed the Call Option Agreement (hereinafter call “Call Option Agreement”) with
__________________ (hereinafter called the “Buyer”). On April 30th 2010,
the Seller and Buyer entered into this Supplementary Agreement with respect to
the following matters.
RECITAL
1. In
accordance with the requirement of the “Condition 2” of DEFINITIONS 1.1 and agreements
in Call Right 2.1 in
Each Call Option Agreement, provided that Wuhan Guoce Nordic New Energy Co., Ltd
(hereinafter called the “Company”) and its subsidiaries achieving not less than
0.5 million US Dollar in after-tax net income for the fiscal year ended December
31st, 2009,
the Buyer shall be entitled to obtain 30% of the Seller’s shares;
2.
Whereas, most incomes of the Company for the fiscal year ended December 31st, 2009
has not been recognized by the independent auditor of the Company for such
fiscal year and resulted in the failure of the Company satisfying the
requirement of the “Condition
2”;
Agreements
The
Seller and Buyer agreed that, under the principle of mutual interests, to lower
the requirement of the said after-tax income to not less than 0.3 million US
Dollars. That is the Company’s after-tax income for the fiscal year ended
December 31st, 2009
not less than 0.3 million US Dollars, the Buyer shall be entitled to obtain 30%
of the Seller’s shares. Remaining conditions and terms of the Call Option
Agreement shall remain unchanged.
This
Agreement may be executed in any number of counterparts, each of which shall be
an original, but all of which together shall constitute one instrument.
Execution and delivery of this Agreement by exchange of facsimile copies bearing
the facsimile signature of a Party shall constitute a valid and binding
execution and delivery of this Agreement by such Party.
[Signature
Page Follows]
IN WITNESS WHEREOF, Parties
have executed and delivered this Agreement on April 30th,
2010,
The
Buyer
Signature:
______________
The
Seller
Signature:
______________
Golden
Wind Holdings Limited
