Agreement
EXHIBIT
10.1
Agreement
This
AGREEMENT is made as of June 5, 2009 by and among Tianjin Tianshi Biological
Development Co., Ltd., a Sino-Foreign joint venture formed under the laws of the
People’s Republic of China (“Biological”), Tianshi International Holdings Group
Limited, a company formed under the laws of The British Virgin Islands
(“Holdings”), Tianshi International Investment Group Co., Ltd., a company formed
under the laws of The British Virgin Islands (“Investment”) and Tianjin Tianshi
Group Co., Ltd., a Chinese-funded enterprise formed under the laws of the
People’s Republic of China (“Group”).
WITNESSETH:
WHEREAS,
Holdings is owed dividends from Biological and Investment is owed a loan from
Holdings.
NOW,
THEREFORE, in consideration of the mutual promises and covenants contained
herein, the parties, intending legally to be bound, agree as
follows:
|
1.
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Investment
shall lend RMB27, 000,000 (RMB Twenty Seven Million) to
Group.
|
|
2.
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Investment
agrees to cancel a loan owed to it by Holdings in the amount of RMB27,
000,000 (RMB Twenty Seven
Million).
|
|
3.
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Holdings
agrees to cancel RMB27, 000,000 (RMB Twenty Seven Million) of dividend
owed to it by Biological.
|
|
4.
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Biological
agrees to pay RMB27, 000,000 (RMB Twenty Seven Million) to Group on behalf
of Investment.
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Tianshi
International Holdings
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Tianjin
Tianshi Biological Development
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Group
Limited
|
Co.,
Ltd
|
Legal
Representative:
|
Legal
Representative:
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/s/
Xxxxxxx Xx
|
/s/
Xxxxx Xx
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Tianshi
International Investment
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Tianjin
Tianshi Group Co., Ltd
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Group Co.,
Ltd
|
|
Legal
Representative:
|
Legal
Representative:
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/s/
Xxxxxx Xx
|
/s/
Xxxxxxx
Xx
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