Exhibit 10.9
 
AGREEMENT TO TERMINATE EQUITY PLEDGE AGREEMENT

THIS AGREEMENT TO TERMINATE EQUITY PLEDGE AGREEMENT (this “Agreement”) is
entered into as of March 22, 2011, by and among Shenyang Yanzikou Sports &
Entertainment Co., Ltd. (“Pledgee”), the shareholders listed on the signature
page hereto holding the equity interests of Beijing Shungao Golf Course
Management Co., Ltd. (“Pledgors”) and China Golf Group, Inc. (“the Company”, and
with Pledgee and Pledgors collectively referred to as the “Parties”). China Golf
Group, Inc., (the “Company”), is made a party to this Agreement for the sole
purpose of acknowledging the Agreement.

WHEREAS, in connection with a certain Consulting Services Agreement dated as of
September 25, 2009 (the “Consulting Agreement”), Plegee entered into an Equity
Pledge Agreement and its amendment dated as of even date therewith, (the “Equity
Pledge Agreement”) with Pledgors;

WHEREAS, Pledgee and Pledgor enters into an agreement to terminate the
Consulting Agreement and its amendment as of even date herewith (the
“Termination Agreement”), whereby Pledgee and Pledgor have terminated the
Consulting Agreement;

NOW, THEREFORE, in consideration of the foregoing recitals and the mutual
agreements herein contained and for other good and valuable consideration, the
Parties agree as follows:

A.           TERMINATION OF THE EQUITY PLEDGE AGREEMENT; AND ITS AMENDMENT.

(1)           Pledgee hereby terminates the Equity Pledge Agreement, and
Pledgors and Company hereby accept such termination.

(2)           Each of the Pledgee, Pledgors and Company acknowledges that all
service fees under Consulting Agreement have been settled and the Pledgors will
not undertake any further obligations under the Consulting Agreement.

B.           GOVERNING LAW.  This Agreement shall be governed and construed
under the laws of the People’s Republic of China, and shall be binding on and
shall inure to the benefit of the parties and their respective successors and
permitted assigns.

C.           COUNTERPARTS.  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.

[Remainder of page left blank intentionally.]

 
 

--------------------------------------------------------------------------------

 

SIGNATURE PAGE
 
IN WITNESS WHEREOF, the Parties hereto have caused this Amendment to be duly
executed by their legal representatives and duly authorized representatives on
their behalf as of the date first set forth above.
 

PLEDGEE:

Shenyang Yanzikou Sports & Entertainment Co., Ltd.

By:           /s/ Ye Bi                                           
Name: Ye Bi
Title: Executive Director

 
 

--------------------------------------------------------------------------------

 

PLEDGORS SIGNATURE PAGE

PLEDGORS:

_/s/ Xiao Bowu_____________
Xiao Bowu
Owns 100% of Beijing Shungao Golf Course Management Co., Ltd.
 
 
 

--------------------------------------------------------------------------------

 
 
ACKNOWLEDGED BY

China Golf Group, Inc.

By:____/s/Ye Bi_______
Name: Ye Bi
Title: CEO