Document:

f8k021111ex10xvii_kurrant.htm

Exhibit 10.17

 

Sales Contract of Shanghai High Definition Technology Industrial Co., Ltd.

 

Contract #: SH10110802

	
Supplier: Shanghai High Definition Technology Industrial Co., Ltd. (“HDTI”)

	 	
Purchaser: Shandong Zhidali Industrial Co., Ltd. (“Zhidali”)

	
Company’s Name: HDTI

Tax ID: 310104749292949

Address: 1018 East Sanliqiao Road, Pudong New 

District, Shanghai

Tel/Fax: 021-61871158

Bank: China Industrial and Commercial Bank Caohejin Development Zone Branch

Bank Account: 1001266319200087156

Zip code: 200125

	 	
Company’s Name: Zhidali

Tax ID: 370481672204284

Address: 1 Zhidali Road, Economy Development 

Zone, Tengzhou City, Shandong Province

Tel/Fax: 0632-3957775/0632-3957770

Bank: China Industrial and Commercial Bank Tengzhou City Branch

Bank Account: 1605003109200334240

Zip code: 277500

	
 

Unless otherwise agreed, the purchase price shall be made in ¥RMB and the parties shall follow the clauses in this Agreement:

 

	
#

	
Name

	
Model

	
Quantity

	
Unit

	
Price (include sales tax)

	
1

	
Modem Chips

	
HD2812

	
5,400

	
Pieces

	
¥21.78

	
Total: RMB ¥117,612

	 	 
	1. 	
Technology/Quality Standards: shall follow the Technology Agreement, Quality Agreement and Sample Quality Standards agreed to by the parties.

	2.	Guaranty: provide the services of repair, exchange and return within one (1) year from the date of sales.
	3.	Quality Inspection, Methods and Grace Period: the Purchaser shall conduct the quality inspection within 5 business days upon receipt of the delivery in the way agreed to by the parties; failure to conduct the inspection as above will be deemed as approval of quality upon inspection.
	4.	Packing: the products shall be packed in a solid, anti-quake/slip/damp way suitable for long distance delivery.
	5. 	Delivered Place: the Purchaser shall desire the place for delivery within the territory of China (upon the parties’ agreement) and the costs for delivery and package shall be paid by Supplier.
	6. 	Delivery Time: within 3 business days upon the receipt of purchase price on Supplier’s bank account, Supplier shall deliver the orders in accordance with the fax order received from the Purchaser.
	7.	Fee Settlement: The purchase price shall be paid by a lump sum payment.
	8.	
Miscellaneous: this Agreement shall be executed upon the following signatures and seals in two copies.  The fax shall be deemed as of same effect as this Agreement.

	 	 
	
Supplier: HDTI

[Corporate Seal- Seal for Contracts Only]

11/08/2010

	
Purchaser: Zhidali

[Corporate Seal- Seal for Contracts Only]

11/09/2010 [signature]f8k021111ex10xviii_kurrant.htm

Exhibit 10.18

 

Sales Contract of Shanghai High Definition Technology Industrial Co., Ltd.

 

Contract #: SH10120101

	
Supplier: Shanghai High Definition Technology Industrial Co., Ltd. (“HDTI”)

	 	
Purchaser: Shandong Zhidali Industrial Co., Ltd. (“Zhidali”)

	
Company’s Name: HDTI

Tax ID: 310104749292949

Address: 1018 East Sanliqiao Road, Pudong 

New District, Shanghai

Tel/Fax: 021-61871158

Bank: China Industrial and Commercial Bank Caohejin Development Zone Branch

Bank Account: 1001266319200087156

Zip code: 200125

	 	
Company’s Name: Zhidali

Tax ID: 370481672204284

Address: 1 Zhidali Road, Economy 

Development Zone, Tengzhou City, Shandong Province

Tel/Fax: 0632-3957775/0632-3957770

Bank: China Industrial and Commercial Bank Tengzhou City Branch

Bank Account: 1605003109200334240

Zip code: 277500

	
 

Unless otherwise agreed, the purchase price shall be made in ¥RMB and the parties shall follow the clauses in this Agreement:

 

	
#

	
Name

	
Model

	
Quantity

	
Unit

	
Price (include sales tax)

	
1

	
Modem Chips

	
HD2812

	
27,000

	
Pieces

	
¥17.98

	
Total: RMB ¥485,460

	 	 
	1. 	
Technology/Quality Standards: shall follow the Technology Agreement, Quality Agreement and Sample Quality Standards agreed to by the parties.

	2.	Guaranty: provide the services of repair, exchange and return within one (1) year from the date of sales.
	3.	Quality Inspection, Methods and Grace Period: the Purchaser shall conduct the quality inspection within 5 business days upon receipt of the delivery in the way agreed to by the parties; failure to conduct the inspection as above will be deemed as approval of quality upon inspection.
	4.	Packing: the products shall be packed in a solid, anti-quake/slip/damp way suitable for long distance delivery.
	5.	Delivered Place: the Purchaser shall desire the place for delivery within the territory of China (upon the parties’ agreement) and the costs for delivery and package shall be paid by Supplier.
	6. 	
Delivery Time: within 3 business days upon the receipt of purchase price on Supplier’s bank account, Supplier shall deliver the orders in accordance with the fax order received from the Purchaser.

	7.	Fee Settlement: The purchase price shall be fully paid on or before 01/10/2011.
	8.	
Miscellaneous: this Agreement shall be executed upon the following signatures and seals in two copies.  The fax shall be deemed as of same effect as this Agreement.

 

	
Supplier: HDTI

[Corporate Seal- Seal for Contracts Only]

12/03/2010

	
Purchaser: Zhidali

[Corporate Seal- Seal for Contracts Only]

12/03/2010 [signature]f8k021111ex10xix_kurrant.htm

Exhibit 10.19

 

Address: Room1003, Fan Ya Building, 128 Zhichun Road Haidian District, Beijing

TEL: 86-10-82675308, 62630484, 62612510 

FAX: 86-10-62630871 

http://www. vertex-ic.com

Email:zgy@vertex-ic.com ; zdm@vertex-ic.com

VERTEX ELECTRONICS TECHNOLOGY CO., LTD.

Sales Agreement

 

	Supplier: Vertex Electronics Technology Co., Ltd.	Client #: 01.924
	Purchaser: Shandong Zhidali Industrial Co., Ltd.             	Contract #: SEORD008014
	(Collectively, the parties)	 

 

Upon negotiation the parties agree to the following terms:

 

	
#

	
Category

	
Manufacturer

	
Packing

	
Model

	
Amount

	
Unit Price ¥

	
Total Price ¥

	
Delivered By

	
Note

	
1

	
IC

	
NXP

	
SOP

	
74HC164D

	
13,000

	
0.5000

	
6,500.00

	  	  
	  	  	  	  	
Total

	  	  	
6,500.00

	  	  

 

     Total: ¥6,500.00

	 l	
Payments:  

	
Delivery upon Payment Received. □

Full Payment upon Delivery. □

Full Payment Due within 1 Months from the Delivery.  In the event the Purchaser defaults under the payment obligations, the Purchaser shall pay breaching penalty at 0.5% of the total due amount per diem. □

 

	
 l  

	
Quality Control: In Original Packing from Supplier.

 

	
 l  

	
Delivery, Time and Address:

 

	
 l  

	
The Above Price includes 17% of the Added Value Tax.

 

	
 l  

	
The Agreement shall be executed in two copies with one copy to each party (faxed copy shall be deemed original).

 

	
 l  

	
Any disputes between the parties under this Agreement shall be resolved through amicable negotiations in good faith.  In the event that the disputes can not resolved through negotiation, either party shall have the right to submit the dispute to local courts.

 

	
 l  

	
This Agreement is executed in the form of fax correspondences and the sealed faxed copy shall be deemed as the original documents binding between the parties.

 

 

  

1

  

 

	Supplier:   	Purchaser:
	Name: Vertex Electronics Technology Co., Ltd. 	Name: Shandong Zhidali Industrial Co., Ltd.
	Address: Room1003, Fan Ya Building  	Address: 1 Zhidali Road, Economy
	128 Zhichun Road Haidian District, Beijing        	Development Zone, Tengzhou City
	Agent: Lei Wang    	Agent: Xiaomin Shen (13256370431) 0632

	Bank: Huaxia Bank Beijing Zhimao Branch      	Bank:
	Bank Account: 	Bank Account:
	Tel.: 010-8267-5308    	Tel.: Attn Jun Xu at 15192109907
	Fax: 010-62630871     	Fax:
	Date: 12/10/2010          	Date: 12/10/2010
	Seal: [Individual’s Signature]   	Seal:
	[Corporate Seal]	 

 

	 
	Producer: Lei Wang      	Operator: Lei Wang

 

Handwriting:

Urgent!

Consent. [Individual’s Signature] 12/10

 

2f8k021111ex10xx_kurrant.htm

 

Agreement

This Agreement dated on November 20, 2010, is entered into in Shandong, People’s Republic of China among the Shareholders of Shandong Zhidali Industrial Co., Ltd. (“Shandong Zhidali” or “Company”) set forth on Schedule I (each a “Shareholder”, and collectively, the “Shareholders”) and Mr. CHAN YUET MING (each a “Party”, and collectively, the “Parties”).

WHEREAS, Mr. CHAN YUET MING, a citizen of Hong Kong (“Mr. CHAN”), is the sole shareholder and director of Zhidali International Group Inc. (“Zhidali International”), a BVI corporation. Zhidali Industrial Co., Ltd. (“Zhidali Industrial”) is a wholly-owned subsidiary of the Zhidali International, and holds 100% equity interests of Zhidali Technology Limited (“Zhidali Technology”), a Hong Kong company. Zhidali Technology is the sole shareholder of Tengzhou City Yangshi Keguang Electronics Co., Ltd (“WFOE”). Mr. CHAN is also the sole director of Zhidali Industrial and Zhidali Technology.

WHEREAS, Shandong Zhidali is a domestic company with exclusively domestic capital registered in the PRC and its main business scope is XXXX.

NOW, THRERFORE, in consideration of the mutual promises of the Parties and the terms and conditions hereof, the Parties hereby agree as follows:

1. As the sole director of Zhidali International, Zhidali Industrial, Zhidali Technology, Mr. CHAN irrevocably authorizes the Shareholders to exercise director’s rights of Zhidali International, Zhidali Industrial, Zhidali Technology, including but not limited to the right to call the director’s meeting, accept the notice regarding the director’s meeting and its agenda, participate in the director’s meeting and exercise the right of electing, designating or appointing the director, general manager, financial controller or other senior management personnel, determine the matters of distribution of dividend. And Mr. CHAN undertakes that he will not appoint any additional directors of Zhidali International, Zhidali Industrial, Zhidali Technology without the prior written consent of the Shareholders.

2. As the sole shareholder of Zhidali International, Mr. CHAN irrevocably authorizes the Shareholders to participate in the shareholder’s meeting and exercise the shareholder’s right on his behalf.

3. Mr. CHAN agrees that the Shareholders will be entitled to the right of obtaining 100% of Zhidali International’s common stock (as equitably adjusted for any stock splits, stock combinations, stock dividends or similar transactions) within 5 years for no consideration in accordance with the respective pro rata ownership according to their respective pro rata ownership of Shandong Zhidali upon the satisfaction of the following condition: The net income reported in the Consolidated Interim Report of WFOE commencing from January 1, 2010 to June 30, 2010 is no less than $  million.

 

 

  

  

  

 

4.  This Agreement shall become effective as of the date first written above and terminate upon the Shareholders acquire 100% of equities in Zhidali International in accordance with the terms of this Agreement.

5.  This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.

6.  In the event that one or several of the provisions of this Agreement are ruled invalid, illegal or unenforceable in any aspect in accordance with any laws or regulations, the validity, legality or enforceability of the remaining provisions of this Agreement shall not be affected or compromised in any aspect. The Parties shall strive in good faith to replace such invalid, illegal or unenforceable provisions with effective provisions, and the economic effect of such effective provisions shall be as close as possible to the economic effect of those invalid, illegal or unenforceable provisions.

7.  Any amendment and supplement of this Agreement shall come into force only after a written agreement in the English language is signed by all Parties. The amendment and supplement duly executed by all Parties shall be part of this Agreement and shall have the same legal effect as this Agreement.

8.  This Agreement shall be interpreted and construed in accordance with the laws and regulations of the PRC. Any dispute arising from or in connection with this Agreement shall be submitted to China International Economic and Trade Arbitration Commission for arbitration which shall be conducted in accordance with the Commission’s arbitration rules in effect at the time of applying for arbitration. The arbitral award is final and binding upon both parties.

[Reminder of this page intentionally left blank.]

  

  

  

 

IN WITNESS WHEREOF, the Parties execute this Agreement as of the date first written above.

Shareholders

Yang Zhiqiang

Signature:                                                                        

Meng Xianhua

Signature:                                                                       

Mr. CHAN YUET MING

Signature:                                                                    

 

  

  

  

 

Schedule I

 

 

	
No.

	
Name

	
Address

	
ID No.

	
Percentage of Shares Held (%)

	
1

	
Yang Zhiqiang

	  	  	
99%

	
2

	
Meng Xinhua

	  	  	
1%

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