ex10-16.htm


Exhibit 10.16


 


FIRST AMENDMENT TO


INTELLECTUAL PROPERTY RIGHTS TRANSFER AGREEMENT







THIS FIRST AMENDMENT TO THE INTELLECTUAL PROPERTY RIGHTS TRANSFER AGREEMENT (this “First Amendment”) is made and entered into as of this September 21, 2011 (the “Effective Date”), by and between Nova Furniture (Dongguan) Co., Ltd., a company organized under the laws of the People’s Republic of China (the “PRC”) (“Company” or “Licensee”) and Ya Ming Wong (“Licensor”).







RECITALS







WHEREAS, Licensor and Licensee are parties to that certain Intellectual Property Rights Transfer Agreement, dated January 7, 2011 (the “Transfer Agreement”).







WHEREAS, Licensor and Licensee desire to amend and replace in its entirety Schedule A to the Transfer Agreement.







NOW, THEREFORE, the parties, intending to be legally bound, hereby agree as follows:







1.           Definitions. Capitalized terms used herein shall have the meanings ascribed to them in the Transfer Agreement.







2.           Modifications. Schedule A of the Transfer Agreement shall be deleted and replaced in its entirety by Schedule A attached hereto.







3.           Authority.  Each party represents and warrants to the other party that this First Amendment is being executed by the authorized representatives of each respective party.







4.           Effect of Amendment.  Except as expressly set forth in this First Amendment, no other provision of the Transfer Agreement shall be changed, altered or modified and the Transfer Agreement remains in full force and effect.







5.           General Provisions.







(a)           Governing Law.  This First Amendment shall be governed by and construed in accordance with the substantive laws of the PRC, without regard to principles of conflict of laws. Licensor and Licensee each agree that any dispute between the parties arising from or in connection with this First Amendment or the Transfer Agreement shall be submitted to the China International Economic and Trade Arbitration Commission for arbitration in accordance with its Arbitration Rules then in force. The arbitration award shall be final and binding upon the parties. During the arbitration period, except for any matters under arbitration, the parties shall continue to perform this First Amendment and the Transfer Agreement.







(b)           Headings.  The titles and headings of the various sections and paragraphs in this First Amendment are intended solely for convenience of reference and are not intended for any other purpose whatsoever or to explain, modify, or place any construction on any of the provisions of this First Amendment.







(c)           All Amendments in Writing.  No supplement, modification, or amendment of this First Amendment shall be binding, unless executed in writing by a duly authorized representative of each party to this First Amendment.







(d)           Entire Agreement.  This First Amendment constitutes the complete and entire agreement of the parties with respect to the subject matter herein and sets forth the entire understanding of the parties with respect to the subject matter hereof.


 




  





1











  






 


(e)           Counterparts.  This First Amendment may be executed through the use of separate signature pages or in any number of counterparts and each of such counterparts shall, for all purposes, constitute one agreement binding on all parties, notwithstanding that all parties are not signatories to the same counterpart. This First Amendment may be executed and delivered via electronic facsimile transmission with the same force and effect as if it were executed and delivered by the parties simultaneously in the presence of one another.


 


(f)           Severability.  In the event that any provision of this First Amendment is held invalid by a court with jurisdiction over the parties, such provision shall be deemed to be restated to be enforceable, in a manner which reflects, as nearly as possible, the original intentions of the parties in accordance with applicable law. The remainder of this First Amendment shall remain in full force and effect.







[Signature Page Follows]









  





2











  






 


IN WITNESS WHEREOF, the parties, intending to be legally bound, have executed this Agreement by their duly authorized representatives as of the date set forth above.







 




	 	 NOVA FURNITURE (DONGGUAN) CO., LTD.	 
	 	 	 	 
	
 

	
By: 

	/s/ Ya Ming Wong	 
	 	
Name

	
Ya Ming Wong

	 
	 	Title	
Chairman

	 
	 	Address	Nange Industrial Village, Nanya Dao Jiao, Dongguan, China	 







 




	 	YA MING WONG	 
	 	 	 	 
	
 

	
By: 

	/s/ Ya Ming Wong	 
	 	Address:	Flat A, 65/F, Tower 1, Sorrento, TST, Kowloon, Hong Kong	 
	 	 	 	 
	 	 	 	 







 




  





3











  






 



SCHEDULE A







INTELLECTUAL PROPERTY




 




	
No.

	
Patent Name

	
Cert. No.

	
Patent No.

	
Owner

	
Application Date


	
1

	
Sofa_SF-807

	
1069972

	
200830220703.0

	
Ya Ming Wong

	
2008-12-01


	
2

	
Sofa_SF-808

	
1059758

	
200830220708.3

	
Ya Ming Wong

	
2008-12-01


	
3

	
Sofa_SF-811

	
1071147

	
200830220706.4

	
Ya Ming Wong

	
2008-12-01


	
4

	
Sofa_SF-817

	
1070261

	
200830220704.5

	
Ya Ming Wong

	
2008-12-01


	
5

	
Sofa_SF-818

	
1070430

	
200830222047.8

	
Ya Ming Wong

	
2008-12-15


	
6

	
Sofa_SF-819

	
1070282

	
200830222048.2

	
Ya Ming Wong

	
2008-12-15


	
7

	
Sofa_SF-820

	
1108717

	
200830223623.0

	
Ya Ming Wong

	
2008-12-30


	
8

	
Sofa_SF-956

	
1280929

	
200930251385.9

	
Ya Ming Wong

	
2009-10-23


	
9

	
Sofa_SF-961

	
1356841

	
200930251341.6

	
Ya Ming Wong

	
2009-10-23


	
10

	
Sofa_SF-929

	
1280861

	
200930251290.7

	
Ya Ming Wong

	
2009-10-23


	
11

	
Sofa_SF-831

	
1280854

	
200930251278.6

	
Ya Ming Wong

	
2009-10-23


	
12

	
Sofa_SF-833

	
1280885

	
200930251329.5

	
Ya Ming Wong

	
2009-10-23


	
13

	
Sofa_SF-836

	
1356838

	
200930251327.6

	
Ya Ming Wong

	
2009-10-23


	
14

	
Sofa_SF-838

	
1356839

	
200930251330.8

	
Ya Ming Wong

	
2009-10-23


	
15

	
Sofa_SF-839

	
1363061

	
200930251328.0

	
Ya Ming Wong

	
2009-10-23


	
16

	
Sofa_SF-913

	
1363062

	
200930251337.1

	
Ya Ming Wong

	
2009-10-23


	
17

	
Sofa_SF-935

	
1356840

	
200930251338.4

	
Ya Ming Wong

	
2009-10-23


	
18

	
Sofa_SF-936

	
1280900

	
200930251350.5

	
Ya Ming Wong

	
2009-10-23


	
19

	
Sofa_SF-938

	
1280886

	
200930251331.2

	
Ya Ming Wong

	
2009-10-23


	
20

	
Sofa_SF-939

	
1280855

	
200930251279.0

	
Ya Ming Wong

	
2009-10-23


	
21

	
Sofa_SF-960

	
1280892

	
200930251340.1

	
Ya Ming Wong

	
2009-10-23


	
22

	
Chair_114

	
1280899

	
200930251349.2

	
Ya Ming Wong

	
2009-10-23


	
23

	
Sofa_SF-15

	
1280867

	
200930251307.9

	
Ya Ming Wong

	
2009-10-23


	
24

	
Chair_ST-13

	
1287123

	
200930251311.5

	
Ya Ming Wong

	
2009-10-23


	
25

	
Table_0758

	
1280926

	
200930251382.5

	
Ya Ming Wong

	
2009-10-23


	
26

	
Table_0762

	
1280917

	
200930251370.2

	
Ya Ming Wong

	
2009-10-23


	
27

	
Table_0742

	
1280853

	
200930251277.1

	
Ya Ming Wong

	
2009-10-23


	
28

	
Table_0726

	
1280856

	
200930251284.1

	
Ya Ming Wong

	
2009-10-23


	
29

	
Table_0703A

	
1280871

	
200930251313.4

	
Ya Ming Wong

	
2009-10-23


	
30

	
Table_0761

	
1280935

	
200930251441.9

	
Ya Ming Wong

	
2009-10-23


	
31

	
Table_7-209

	
1280934

	
200930251440.4

	
Ya Ming Wong

	
2009-10-23


	
32

	
Table_0751

	
1280864

	
200930251303.0

	
Ya Ming Wong

	
2009-10-23


	
33

	
Table_0757

	
1280863

	
200930251302.6

	
Ya Ming Wong

	
2009-10-23


	
34

	
Table_0763

	
1280873

	
200930251315.3

	
Ya Ming Wong

	
2009-10-23


	
35

	
Table_0764

	
1356842

	
200930251343.5

	
Ya Ming Wong

	
2009-10-23


	
36

	
Table_0718A

	
1280879

	
200930251321.9

	
Ya Ming Wong

	
2009-10-23


	
37

	
BarTable_HB-28

	
1280845

	
200930251258.9

	
Ya Ming Wong

	
2009-10-23


	
38

	
Chair_1001

	
1280846

	
200930251259.3

	
Ya Ming Wong

	
2009-10-23


	
39

	
Chair_996

	
1280890

	
200930251335.0

	
Ya Ming Wong

	
2009-10-23


	
40

	
Chair_995

	
1280889

	
200930251334.6

	
Ya Ming Wong

	
2009-10-23


	
41

	
Chair_116B

	
1280888

	
200930251333.1

	
Ya Ming Wong

	
2009-10-23


	
42

	
Chair_994

	
1280868

	
200930251308.3

	
Ya Ming Wong

	
2009-10-23


	
43

	
Chair_980

	
1280852

	
200930251276.7

	
Ya Ming Wong

	
2009-10-23


	
44

	
Chair_123

	
1280908

	
200930251360.9

	
Ya Ming Wong

	
2009-10-23


	
45

	
Chair_828B

	
1280880

	
200930251322.3

	
Ya Ming Wong

	
2009-10-23


	
46

	
BarChair_053

	
1280869

	
200930251309.8

	
Ya Ming Wong

	
2009-10-23


	
47

	
BarChair_066

	
1280847

	
200930251260.6

	
Ya Ming Wong

	
2009-10-23


	
48

	
Chair_MC-8101

	
1280930

	
200930251386.3

	
Ya Ming Wong

	
2009-10-23


	
49

	
CoffeeTable_CT-536

	
1280866

	
200930251306.4

	
Ya Ming Wong

	
2009-10-23


	
50

	
CoffeeTable_CT-336

	
1280865

	
200930251305.X

	
Ya Ming Wong

	
2009-10-23


	
51

	
CoffeeTable_CT-752

	
1280914

	
200930251366.6

	
Ya Ming Wong

	
2009-10-23


	
52

	
CoffeeTable_7-204A

	
1280907

	
200930251359.6

	
Ya Ming Wong

	
2009-10-23


	
53

	
CoffeeTable_WU25-03

	
1280916

	
200930251368.5

	
Ya Ming Wong

	
2009-10-23


	
54

	
CoffeeTable_CT-648A

	
1280872

	
200930251314.9

	
Ya Ming Wong

	
2009-10-23









 




  





A-1











  






 




	
No.

	
Patent Name

	
Cert. No.

	
Patent No.

	
Owner

	
Application Date











	
55

	
CoffeeTable_CT-718

	
1280877

	
200930251319.1

	
Ya Ming Wong

	
2009-10-23


	
56

	
CoffeeTable_CT-764

	
1280894

	
200930251344.X

	
Ya Ming Wong

	
2009-10-23


	
57

	
CoffeeTable_7-204

	
1280884

	
200930251326.1

	
Ya Ming Wong

	
2009-10-23


	
58

	
CoffeeTable_CT-742

	
1280882

	
200930251324.2

	
Ya Ming Wong

	
2009-10-23


	
59

	
CoffeeTable_CT-753

	
1280891

	
200930251336.5

	
Ya Ming Wong

	
2009-10-23


	
60

	
Nightstand_WU25-05

	
1280915

	
200930251367.0

	
Ya Ming Wong

	
2009-10-23


	
61

	
Nightstand_CE-752

	
1280870

	
200930251310.0

	
Ya Ming Wong

	
2009-10-23


	
62

	
Shelf_WU23(1+2+3)

	
1280923

	
200930251379.3

	
Ya Ming Wong

	
2009-10-23


	
63

	
TVstand_WU25-02

	
1280902

	
200930251352.4

	
Ya Ming Wong

	
2009-10-23


	
64

	
TVstand_7-202

	
1280862

	
200930251291.1

	
Ya Ming Wong

	
2009-10-23


	
65

	
TVstand_WU25-02B

	
1280912

	
200930251364.7

	
Ya Ming Wong

	
2009-10-23


	
66

	
TVstand_K-753

	
1280928

	
200930251384.4

	
Ya Ming Wong

	
2009-10-23


	
67

	
TVstand_K-718

	
1280876

	
200930251318.7

	
Ya Ming Wong

	
2009-10-23


	
68

	
TVstand_K-399

	
1280896

	
200930251346.9

	
Ya Ming Wong

	
2009-10-23


	
69

	
TVstand_WU250-02R

	
1280910

	
200930251362.8

	
Ya Ming Wong

	
2009-10-23


	
70

	
TVstand_WU05-02L

	
1280909

	
200930251361.3

	
Ya Ming Wong

	
2009-10-23


	
71

	
TVstand_K-764

	
1280895

	
200930251345.4

	
Ya Ming Wong

	
2009-10-23


	
72

	
TVstand_TV-36C

	
1280898

	
200930251348.8

	
Ya Ming Wong

	
2009-10-23


	
73

	
Tvstand_WU25-02A

	
1280906

	
200930251358.1

	
Ya Ming Wong

	
2009-10-23


	
74

	
JewelryStorage_WU25-11A

	
1280905

	
200930251357.7

	
Ya Ming Wong

	
2009-10-23


	
75

	
Cupboard_W-719BF

	
1280897

	
200930251347.3

	
Ya Ming Wong

	
2009-10-23


	
76

	
Cupboard_WU25-11

	
1280931

	
200930251387.8

	
Ya Ming Wong

	
2009-10-23


	
77

	
JewelryStorage_W-738

	
1280911

	
200930251363.2

	
Ya Ming Wong

	
2009-10-23


	
78

	
JewelryStorage_WU25-07

	
1280903

	
200930251353.9

	
Ya Ming Wong

	
2009-10-23


	
79

	
JewelryStorage_W-753

	
1280927

	
200930251383.X

	
Ya Ming Wong

	
2009-10-23


	
80

	
Divider_M-8419

	
1280881

	
200930251323.8

	
Ya Ming Wong

	
2009-10-23


	
81

	
DividerShelf_WU23-5

	
1280924

	
200930251380.6

	
Ya Ming Wong

	
2009-10-23


	
82

	
DividerShelf_W25-01R

	
1280922

	
200930251378.9

	
Ya Ming Wong

	
2009-10-23


	
83

	
DividerShelf_W-174H

	
1280858

	
200930251287.5

	
Ya Ming Wong

	
2009-10-23


	
84

	
Dresser_W25-18

	
1280936

	
200930251442.3

	
Ya Ming Wong

	
2009-10-23


	
85

	
Nightstand_7-217

	
1280913

	
200930251365.1

	
Ya Ming Wong

	
2009-10-23


	
86

	
Dresser_WU25-19

	
1280920

	
200930251375.5

	
Ya Ming Wong

	
2009-10-23


	
87

	
Sideboard_W23-4

	
1280925

	
200930251381.0

	
Ya Ming Wong

	
2009-10-23


	
88

	
Sideboard_W-400

	
1280859

	
200930251288.X

	
Ya Ming Wong

	
2009-10-23


	
89

	
Sideboard_7-208

	
1280857

	
200930251286.0

	
Ya Ming Wong

	
2009-10-23


	
90

	
Sideboard_WU25-08

	
1280918

	
200930251371.7

	
Ya Ming Wong

	
2009-10-23


	
91

	
Sideboard_WU04-7H

	
1283887

	
200930251304.5

	
Ya Ming Wong

	
2009-10-23


	
92

	
Sideboard_W-752

	
1280844

	
200930251257.4

	
Ya Ming Wong

	
2009-10-23


	
93

	
Sideboard_W-718

	
1280878

	
200930251320.4

	
Ya Ming Wong

	
2009-10-23


	
94

	
Sideboard_W-764

	
1280893

	
200930251342.0

	
Ya Ming Wong

	
2009-10-23


	
95

	
Sideboard_W-742

	
1280883

	
200930251325.7

	
Ya Ming Wong

	
2009-10-23


	
96

	
LiquorCabinet_HB-399

	
1280860

	
200930251289.4

	
Ya Ming Wong

	
2009-10-23


	
97

	
LiquorCabinet_6-213

	
1280937

	
200930251443.8

	
Ya Ming Wong

	
2009-10-23


	
98

	
LiquorCabinet_W25-13R

	
1280921

	
200930251377.4

	
Ya Ming Wong

	
2009-10-23


	
99

	
LiquorCabinet_WU25-13A

	
1280919

	
200930251374.0

	
Ya Ming Wong

	
2009-10-23


	
100

	
LiquorCabinet_WU25-13

	
1280904

	
200930251356.2

	
Ya Ming Wong

	
2009-10-23


	
101

	
LiquorCabinet_HB-742A

	
1280851

	
200930251275.2

	
Ya Ming Wong

	
2009-10-23


	
102

	
LiquorCabinet_HB-753

	
1280887

	
200930251332.7

	
Ya Ming Wong

	
2009-10-23


	
103

	
ShoeShelf_6-206

	
1359912

	
200930251285.6

	
Ya Ming Wong

	
2009-10-23


	
104

	
ShoeShelf_W-742B

	
1280874

	
200930251316.8

	
Ya Ming Wong

	
2009-10-23


	
105

	
ShoeShelf_WU25-06

	
1280901

	
200930251351.X

	
Ya Ming Wong

	
2009-10-23


	
106

	
ShoeShelf_W-718A

	
1280875

	
200930251317.2

	
Ya Ming Wong

	
2009-10-23


	
107

	
Sofa (SF-951)

	
1558823

	
200930251339.9

	
Ya Ming Wong

	
2009-10-23


	
108

	
Sofa (1001)

	
1631677

	
201030259494.8

	
Ya Ming Wong

	
2010-08-04


	
109

	
Sofa (1006)

	
1544208

	
201030259510.3

	
Ya Ming Wong

	
2010-08-04









 




  





A-2











  






 




	
No.

	
Patent Name

	
Cert. No.

	
Patent No.

	
Owner

	
Application Date










	
110

	
Sofa (1007)

	
1543870

	
201030259518.X

	
Ya Ming Wong

	
2010-08-04


	
111

	
Sofa (1008)

	
1454573

	
201030259519.4

	
Ya Ming Wong

	
2010-08-04


	
112

	
Sofa (1010)

	
1636383

	
201030259524.5

	
Ya Ming Wong

	
2010-08-04


	
113

	
Sofa (1011)

	
1634128

	
201030259531.5

	
Ya Ming Wong

	
2010-08-04







 




  





A-3