Document:

Unassociated Document

     

    Exhibit
10.1

    

    Asset
Purchase Agreement

    (English
Translation)

     

     

    
      Transferor:
Raoping County Dadi Tobacco Trade Center (hereinafter referred to as Party
A)

    

    Transferee:
Harbin Hainan Kangda Cacti Hygienical Foods Co., Ltd. (hereinafter referred to
as Party B)

    Business
nature of Party A: Individual operation.

    Major
business: the wholesale and retail of daily necessities, hardware and electrical
appliances, clothes etc.

    Party A
is willing to transfer its assets to Party B according to the provisions as
specified in this agreement.

    Business
nature of Party B: Foreign-invested enterprise with registered capital of RMB
36,800,000.

    Major
business: manufacturing and marketing of cactus food, introducing, cultivating
and research of cactus improved breeds.

    Party B
is willing to purchase the assets of Party A according to the provisions as
specified in the agreement.

    

    On the
basis of principle of equality and sincerity, through friendly consultation,
party A agrees to transfer its assets (hereinafter referred to as “Target
Asset”) to Party B as follows:

    

    Article
I. Constitution of the target asset:

    1. Land
use right

    Land use
right for a period of 50 years of state-owned land covering 4,784 square meters
located at Qianyang, Jishan Village, Qiandong Town, Raoping County.

    2.
Building ownership

    Buildings
covering 2,030 square meters located at Qianyang Industrial area, Qiandong Town,
Raoping County.

    3. Fixed
assets ownership

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

       

    

    All
machinery, equipments and facilities (including equipment information) in the
factory of the target company.

    

    Article
II.  Terms of disposal of debt and liability

    All debt
and liabilities (including unpaid wages, social security funds, tax fee, loan
from banks and other debt ), and all related litigation and disputes arising
before the execution of this agreement should be disposed by Party A prior to
the closing.

    

    Article
III. Purchase price and payment mode

    The two
parties agree that the total purchase price of the assets is RMB 35,000,000
which include all assets transferred by Party A, but not including the fees to
be paid to the land management department associated with the transfer of land
use-right of state-owned land leasing which shall be the responsibility of Party
B and all taxes relating to the transfer of assets shall be paid by Party
B.

    

    Party B
will make payments to Party A in three installments. First installment will
consist of 30% of the total purchase price to be paid within 10 days from the
date of the Agreement. Second installment of 30% of the total purchase price
will be paid at the commencement of the title transfer for the assets to be
purchased under the Agreement with the applicable regulatory agencies. The third
installment of 40% of the total purchase price will be paid within 5 days
following the completion of the title transfer of all assets
purchased.

    

    Article
IV. Terms of asset transfer

    

    1. From
the date of this agreement, both parties shall indentify all assets to be
transferred in accordance with the schedule of assets attached
hereto.  The asset identification process shall be completed within 60
days after the execution of this agreement.

    2. From
the date of this agreement, and after Party B pays Party A the first
installment, Party A shall be responsible for completing all transfer of title
of the assets within 4 months including the procedures of land use right
transfer and building ownership transfer.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

       

    

    3. Party
A is responsible for completing all transfer of title of the assets, Party B
shall cooperate with Party A, and to pay all related fees.

    4. From
the date of the agreement until the completion of all the assets transfer, Party
A shall maintain the target assets in good condition, and shall ensure that the
target assets do not sustain any damage.

    

    Article
V. Representation and Warranty

    1.
Representation and Warranty of Party A

    (1)Party A guarantees
that the quality condition, age of use and performance with respect to the list
of target assets are true.

    (2)Party A guarantees
that there are no dispute, liens or other encumbrances on the clear title and
ownership of target asset. Party A has the full right of the ownership of the
target asset. If any dispute arising with respect to the ownership of the target
asset, Party A shall be responsible for resolving such disputes and be
responsible for all damages thereby.

    (3)With respect to
the asset transfer, Party A has acquired all official approval from relevant
government department, and Party A has obtained all approval of its board of
directors and shareholders on the transferring the target assets to Party
B.

    

    2.
Representation and Warranty of Party B

    (1)Party B guarantees
to fulfill its obligations according to the terms and conditions as specified in
this agreement.

    (2)Party B guarantees
the legality of the source of funds used in the purchase the target
asset.

    

    Article
VI. Confidentiality

    Both
Parties shall keep all commercial document, data and materials acquired from
each other during the transfer of assets confidential, and shall not disclose
any information to any third party, except as required otherwise by
law.

    

    Article
VII.  Liability for breach of contract

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

       

    

    Both
parties should fulfill its obligations, if any party violates the agreement the
party should reimburse the other party accordingly.

     

    1. If
Party A does not complete all transfer of title of the assets required by law by
the date specified in this agreement, Party A shall be subject to a penalty
equal to 10% of the aggregate purchase price.

    

    2. If
Party B does not make payment of the installment according to the schedule
specified in the agreement, Party B shall be subject to a penalty equal to 10%
of the amount of payable installment for such period.

    

    Article
VIII. Exhibits

    This
agreement includes 4 exhibits as follows:

    
      	
               
      

            	
              1.

            	
              Target
      Asset Appraisal

            

    

    
      	
               
      

            	
              2.

            	
              Land
      Use Right Certification

            

    

    
      	
               
      

            	
              3.

            	
              Certificate
      of Rights to Buildings

            

    

    
      	
               
      

            	
              4.

            	
              Resolutions
      adopted by the board of directors and shareholders of Party A approving
      the transfer of all target assets.

            

    

    

    Article
IX. Dispute Resolution

    Any
disputes arising out of or relating to this Agreement must be resolved by
mediation. In the event the parties are unable to resolve the disputes through
mediation, either party shall have the right to bring an action in a court of
competent jurisdiction.

    

    Article
X. Miscellaneous

    
      	
               
      

            	
              1.

            	
              This
      Agreement may be amended or modified in writing duly and validly executed
      by both parties. Any amendment or modification shall have the same force
      and effect as this Agreement.

            

    

    
      	
               
      

            	
              2.

            	
              This
      Agreement shall be executed in two originals with each party keeping one
      original.

            

    

    
       

      
        	Party A
    (seal)	Party B
    (seal)

      

    

     

    
      
      

       

       

      
        	Representative
      (SIGNATURE)	Representative
      (SIGNATURE)
	Date: June 28,
      2010	Date: June 28,
      2010AMENDMENT
NO. 1

    TO

    PERCEPTRON,
INC.

     

    EMPLOYEE
STOCK PURCHASE PLAN

     

    This
Amendment No. 1 to the Employee Stock Purchase Plan (the “Plan”) of Perceptron,
Inc. (the “Corporation”) is made this 24th day of
June, 2010 pursuant to Section 14 of the Plan, and was approved by the
Corporation’s Board of Directors on such date.

     

    1.           Section
5 of the Plan be and hereby is amended and restated in its entirety to read as
follows:

     

    Participants.  Except
as provided in Section 6 of the Plan, any employee who is in the employ of the
Company or any subsidiary of the Company on the offering dates (i) whose
customary employment with the Company or a subsidiary is more than 20 hours per
week, (ii) who works more than five months a year and (iii) who has been
employed by the Company or a subsidiary for at least six months, is eligible to
participate in the Plan in accordance with its terms.  All employees
granted options shall have the same rights and privileges under this
Plan.

     

    2.           Section
11 of the Plan be and hereby is amended and restated in its entirety to read as
follows:

     

    Termination of Employment,
Unpaid Leave of Absence or Layoff.  If a participating employee
ceases to be employed by the Company for any reason (with or without severance
pay), including but not limited to, voluntary or forced resignation, retirement,
death, layoff, or if an employee is on an unpaid leave of absence for more than
60 days, or during any period of severance, payroll deductions with respect to
such employee shall cease and all funds withheld prior to such termination,
which have not yet been applied to the purchase of Common Stock, shall be
returned by the Company to the employee (or his or her estate or heirs) as soon
as practicable.

     

    3.           A
new Section 21 shall be added to the Plan to state the following:

     

    Foreign Law
Restrictions. Anything to the contrary herein notwithstanding, the
Company’s obligation to sell and deliver Common Stock pursuant to the exercise
of an option is subject to compliance with the laws, rules and regulations of
any foreign nation applying to the authorization, issuance or sale of
securities, providing of compensation, transfer of currencies and other matters,
as may apply to any participating employee hereunder who is a resident of such
foreign nation.  To the extent that it shall be impermissible under
such foreign laws for such a participating employee to pay the exercise price
for any option granted under the Plan or for the Company to deliver Common Stock
to any such participating employee pursuant to any option granted under the
Plan, the Committee shall refund to such participating employee the aggregate
amount of the payroll deductions made pursuant to this Plan (to the extent such
amounts have not previously been applied towards the purchase of option shares,
in accordance with all applicable United States and foreign currency
restrictions and regulations).  To the extent that the Company is
restricted in accordance with such foreign laws from delivering shares of Common
Stock to participating employees as would otherwise be provided for in this
Plan, the Company shall be released from such obligation and shall not be
subject to the claims of any participating employee hereunder with respect
thereto.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    In
witness whereof, the Corporation has caused this Amendment No. 1 to be executed
as of June 24, 2010.

     

    PERCEPTRON,
INC.

    

    
      
        	
                By:

              	
                /s/ David W. Geiss

              	 
      
	 
      	
                David
      W. Geiss

              	 
      
	
                Its:

              	
                Vice
      President, General Counsel & Secretary

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