Document:

English translation of Real Estate Lease Contract dated August 22, 2006

 Exhibit 10.16 
 This is an English translation 
 Real Estate Lease
Contract 
 This Contract (the “Contract”) is made and entered into by the parties below in Penglai City, Shandong
Province, People’s Republic of China on August 22, 2006: 
 Party A: Penglai Nuokang Pharmceutical Co., Ltd. 
 Legal address: No.136 Nanguan Road, Penglai City 
 Party B: Shandong Penglai Pharmaceutical Plant 
 Legal address: No.136 Nanguan Road, Penglai City 
 In accordance with the applicable Chinese laws and regulations concerning real estate management, Party A and Party B, after friendly
negotiations, hereby agree below with respect to the leasing of relevant land use right, houses and ancillary facilities by Party B to Party A: 
 Article 1 Scope and Purpose of Lease 
 Party B agrees to lease to Party A,
and Party A agrees to lease from Party B by paying a consideration, the land use right of the land below (hereinafter referred to as the “Land”) and the use right of corresponding houses and ancillary facilities, which are owned by Party
B, on and subject to the terms and conditions of this Contract. 
 Party B obtained the land use right of the Land by means of
land grant on August 22, 2006. The expiry date of land use right is December 5, 2053. Party A agrees to be bound by the provisions of the state-owned land use right grant contract concluded between the relevant land administration in
Penglai and Party B. 
 Location of land: Penglai Nuokang Pharmceutical Co., Ltd. 
 Area of land: 14,943.00m2 (the land area of injection workshop excluded) 
 Number of land use right certificate: PengGuoYong (2004) No. 0022 
 Purpose of land: industrial 
 Expiry date: December 5, 2053 
 Encumbrance: mortgaged for a loan of RMB
2.8 million offered to Party A by Penglai Branch, Agricultural Bank of China 
 The details of houses and ancillary
facilities are given in the annex. 
 Party A shall only use the Land as well as the houses and ancillary facilities related
thereto for production and operation activities within the scope of use as indicated in the land use right certificate of the Land and the ownership certificate of houses. A change in the use above shall be subject to the consent of the lessor, the
amendment of this Contract and also to the approvals by relevant land administration and housing administration. 

 Article 2 Lease Period 
 1. The lease period shall be from the date when the lease relation is established between both parties until December 31, 2014. Upon
expiry of the lease period, both parties may negotiate to extend the lease period. The then-current rent is to be agreed upon by both parties. 
 2. Party B may immediately terminate this Contract if: 
 1) Without Party B’s
consent, Party A subleases or sublets land use right or houses to other person; or 
 2) Party A breaches the use of lease as
agreed by both parties, or uses the Land for any illegal activity, thus damaging Party B’s interests or social public interests. 
 When Party B terminates this Contract because of any of the above circumstances, Party B shall provide Party A an appropriate time to deal with removal or other matters. 
 Article 3 Rent and Method of Payment 
 1. Party A
shall pay rent to Party B. From the date when the lease relation is established between both parties to December 31, 2009, Party A shall pay to Party B an annual rent of RMB 1.8 million, including RMB 1.4 million for the lease of land
use right and RMB 400,000 for lease of houses; from January 1, 2010 to December 31, 2014, Party A shall pay to Party B an annual rent of RMB 1.6 million, including RMB 1.3 million for lease of land use right and RMB 300,000 for
lease of houses. 
 2. A rent of RMB 450,000 shall be paid at the end of each quarter of each year. From January 1, 2010, a
rent of RMB 400,000 shall be paid at the end of each quarter. 
 Article 4 House Repairs and Significant Changes of House
Property during Lease Period 
 1. The repairs of houses within the lease period shall be Party B’s responsibility. The
expenses thus incurred shall be borne by Party A. Unless otherwise provided for herein and except as stipulated by the mandatory requirements of relevant policies and regulations, the necessary decorative construction of houses by Party A that
involves the renovation of the principal structure shall be subject to the consent of Party B and a written Contract. But any change or addition not involving the modification of the principal structure of houses may be made by Party A without
notifying Party B and obtaining Party B’s consent. 
 2. Where Party A needs to add factory building, workshop or other
facility due to production and operation needs or the mandatory requirements of relevant policies and regulations, Party A shall negotiate with Party B. Party B shall assist Party A in handling relevant procedures. Both parties may separately agree
upon the future disposal of newly added assets. 

 3. Within the lease period, Party A shall appropriately protect and use houses and ancillary
facilities. If houses and ancillary facilities are damaged or lost, Party A shall bear the civil liability to Party B. 
 Article 5 Change of Lessor 
 1. Within the lease period, Party B shall not transfer the land use right of the
Land or ownership of houses and ancillary facilities to a third party without Party A’s written consent. 
 2. In case
Party B intends to transfer the land use right of the Land or ownership of houses and ancillary facilities, they shall only be transferred to Party A. But with Party A’s written consent, Party B may transfer the land use right of the Land or
ownership of houses and ancillary facilities to a third party. 
 3. Party B shall not create encumbrances on real estate, such
as guarantee and mortgage without the prior written consent of Party A. 
 Article 6 Representations and Warranties

 1. Party B hereby represents and warrants to Party A that Party B is a company, enterprise or other entity duly organized
and registered and validly existing under the laws of the People’s Republic of China and has the full power and authority (legal, corporate or otherwise) to: 
 1) as the only legal holder of the land use right of the Land, ownership of houses and ancillary facilities, lease the Land, houses and ancillary facilities to Party A on a compensated basis pursuant to
the provisions of this Contract; and 
 2) execute and perform this Contract. 
 2. If Party B fails to company with any of its warranties above, Party A is entitled to, at any time, terminate this Contract and recover
all economic losses incurred by it from Party B. 
 3. Party A hereby undertakes and warrants to Party B that: 
 1) Party A is a limited liability company duly organized and registered and validly existing under the laws of the People’s Republic of
China and has the full power and authority to execute and perform this Contract; 
 2) Party A will make reasonable use of the
leased land, houses and ancillary facilities pursuant to the provisions of this Contract and in accordance with other laws and regulations; and 
 3) Party A will pay the rent on time. 
 Article 7 Termination 
 This Contract will be terminated if any of the following circumstances occurs: 
 1. Any circumstance as set forth in Paragraph 2 under Article 2 above occurs; 

 2. Both parties agree to terminate this Contract after negotiations and reach a written
Contract; 
 3. The lease period expires and neither party wishes to renew the lease; 
 4. Within the lease period, if either party unilaterally terminates the cooperation under this Contract, it shall pay to the other party
liquidated damages equal to the multiple of the number of unperformed years under this Contract and RMB one million; 
 5. An
event of force majeure occurs; or 
 6. Any other circumstance as stipulated by laws and regulations that serves as the basis
for the termination of this Contract. 
 Article 8 Force Majeure 
 Should either party be prevented from performing this Contract owing to any event of force majeure that is unforeseeable, whose happening
and consequences are unpreventable or unavoidable, including, but not limited to, natural disaster, war, government act or incident, the prevented party shall without undue delay notify the other party of the occurrence of such event so that the
other party recognizes such event, and within 15 days thereafter, provide the details of such event, the relevant documentary evidence issued by a local notary office and the reasons explaining why it is unable to perform all or any portion of this
Contract or needs to delay the performance of this Contract. Both parties shall negotiate whether or not to terminate this Contract, or to exempt any obligation under this Contract or to delay the performance of this Contract depending on the effect
of such event upon the performance of this Contract. 
 Article 9 Defaulting Liability 
 Where either party fails to perform any of its obligations under this Contract, it shall be deemed committing a default. The defaulting
party shall remedy its default within 5 days of receiving a notice from the other party requiring the default to be remedied. Otherwise, the defaulting party shall be liable for all the direct and foreseeable losses thus incurred by the other party.

 Article 10 Applicable Law and Dispute Resolution 
 1. The execution, validity, interpretation and performance of and dispute resolution in connection with this Contract shall be governed by
the laws of the People’s Republic of China. Any dispute as may arise in connection with this Contract, if not resolved through friendly negotiations, shall be resolved by bringing a lawsuit to the People’s court of competent jurisdiction.

 2. It is agreed by both parties that any dispute arising from or out of the performance of or in connection with this
Contract shall be resolved by both parties through friendly negotiations and in the event that no resolution can be reached, either party may submit such dispute to the People’s court of competent jurisdiction for a ruling pursuant to the
provisions of this Contract. 

 3. Should any provision of this Contract be held invalid under any applicable Chinese law,
such invalid provision shall not affect the continuing validity and enforceability of the remaining provisions of this Contract. 
 Article 11 Effectiveness and Miscellaneous 
 1. This Contract shall become effective as of the date when it is
duly signed and sealed by the legal representatives or authorized representatives of both parties. 
 2. The supplementary
contracts and documents concluded in connection with this Contract shall be made a valid part of this Contract. This Contract may be modified, amended or supplemented with the mutual consent of both parties. Any and all modifications, amendments or
supplements to this Contract shall be made in a writing executed by both parties and form an integral part of this Contract. 
 3. This Contract is in four originals in Chinese, one original for each party hereto and two originals to be submitted to relevant real estate administrations for the record. 
 IN WITNESS WHEREOF, both parties have caused this Contract to be executed by their authorized representatives at the place and on the date
as first above written. 
 (No text below) 

 Signature page 
 Party A: Penglai Nuokang Pharmceutical Co., Ltd. 
 Authorized representative: /s/ Xue Baizhong 
 Party B: Shandong Penglai Pharmaceutical Plant 
 Authorized representative: /s/ Hou Zhongyi 

 Annex 1 
 According to the “Asset Appraisal Report of Penglai Nuokang Pharmaceutical Co., Ltd.” (ZhongLiDeKuaiPingZiZi (2006) No.54) issued by Shandong Zhonglide Certified Public Accountants Co.,
Ltd. on July 21, 2006, it is determined that the appraised value of this land use right is RMB 6,764,835.71. 
 Refer to
the copy of land use right certificate for the other description of this land use right.English translation of Land Use Right Grant Contract dated September 7, 2005

 Exhibit 10.17 
 This is an English translation 
 Hunnan New District
State-owned Land Use Right Grant Contract 
 ShenNanTuChuHeZi (2005) No.40 
 Article 1 Both parties to this Contract 
 Grantor:
Hunnan New District Branch of Shenyang Planning and State-owned Land Resource Bureau (hereinafter referred to as “Party A”) 
 Name of
legal representative: Hao Yi Title: Director 
 Grantee: Liaoning Nuokang Bio-pharmaceutical Co., Ltd. (hereinafter referred to as “Party
B”) 
 Name of legal representative: Xue Baizhong Title: Board Chairman 
 In accordance with the “Provisional Regulations of the People’s Republic of China on the Grant and Transfer of the State-owned
Land Use Rights of the Urban Areas”, “Implementation Measures of Liaoning Province on the Grant and Transfer of the State-owned Land Use Rights of the Urban Areas, “Implementation Measures of Shenyang Municipality on the Paid Use of
State-owned Land” and other relevant state regulations, based on Party B’s application, Party A and Party B, abiding by the principles of equality, free will and consideration, hereby enter into this Contract. 
 Article 2 Party A will grant the use right of land according to this Contract. The ownership of land belongs to the People’s Republic
of China. Underground resources, objects buried underground and municipal public facilities are excluded from the scope of the grant of the land use right. 
 Article 3 For the land use right granted to Party B pursuant to this Contract, Party B shall, within the term of use, complete above 25% of the total development investment (excluding land price) or above
30% of construction area according to the conditions set forth herein. Party B may transfer, lease or mortgage land use right or use land use right for any other economic activity in accordance with relevant laws and regulations. 
 If Party B enjoys preferential land price policy and conducts, within the term of use, any of operating activities such as transfer, lease,
sale, investment by way of capital contribution and mortgage, Party B shall obtain Party A’s approval and Party A will cancel the preferential policy about land price for Party B. Party B shall pay an additional land purchase fee based on the
specified prime land price at the time of signing of this Contract. 
 The land development, utilization and operation
activities carried out by Party B within the scope of granted land use right shall comply with the laws and regulations of the People’s Republic of China and the relevant regulations of Liaoning Province and Shenyang and not damage social
public interests. Party B’s legal rights and interests shall be protected by the laws. 

 Article 4 The land granted to Party B by Party A is located at F46-2
land parcel in Hunnan New District, Shenyang. The requisitioned land area is 86,421.7m2 and use area is 67,465.2m2. The scope in four directions: eastwards to the centerline of 50m-wide planned road, southwards to the south borderline of 24m-wide planned road, westwards to Design Institute of Chinese Academy of
Sciences and northwards to the centerline of 24m-wide planned road (as shown in the drawing attached to this Contract). 
 Article 5 The grant term of the land use right granted under this Contract is 50 years, i.e. from September 7, 2005 to September 6, 2055. According to approved general plan, the purpose of granted land is industrial and the
construction period of the whole project is three years (September 2005 to September 2008). The deadline of construction of Phase I project is the end of December 2006. By then, Phase I project should have been completed and put into use. If Party B
fails to complete development and construction according to the time specified herein, Party A shall be entitled to terminate this Contract and repossess the land that is still not developed and constructed. 
 Article 6 Within the grant term, if the municipal government adjusts the general plan of the development zone, Party B shall obey such
adjustment and Party A shall pay appropriate compensation with respect to Party B’s constructions above the ground according to regulations. If Party B needs to change the purpose of land set forth herein, Party B shall obtain the approval of
Party A and the city planning administration, readjust the grant fee of land use right according to relevant regulations and handle land use right registration procedures. Within the grant term, if Party B is dissolved upon expiry of the operating
period, Party A is entitled to repossess state-owned land use right. 
 Article 7 The land use conditions under this Contract
are subject to city planning needs. Building volume ratio is 0.8-1.2 and building density is not more than 40%. Specific planning conditions are subject to final examination and approval. 
 Article 8 Party B agrees to pay to Party A land purchase fee, farmland use tax and land value-added tax when Party B transfers land use
right to a third party according to the provisions of this Contract. 
 Article 9 The land category of this
land parcel is grade four. The land purchase fee rate is RMB 276/m2 (based on use area) and total contract price is RMB 18,620,395.2, in which grant fee is RMB 9,040,336.8 (based on RMB134 per square meter of use area), compensation fee of land requisition is RMB 5,532,146.4 and fee for supporting
municipal infrastructures is RMB 4,047,912 (based on RMB60 per square meter of use area). Party B shall pay farmland use tax (except for Sino-foreign equity joint venture, Sino-foreign contractual joint venture and wholly foreign-owned enterprise),
heating, electricity and gas expenses to relevant departments according to regulations. 
 Article 10 Within sixty days after
this Contract is signed by both parties, Party B shall pay a total land purchase fee of RMB 18,620,395.2 to Party A. Otherwise, Party A is entitled to terminate this Contract and the funds already paid by Party B will not be refunded. 

 Article 11 After Party B pays the total land purchase fee to Party A and all procedures are
completed, within 30 days after the construction project commences, Party B shall handle land use right registration procedures according to regulations and obtains the State-owned Land Use Certificate to obtain land use right. 
 Article 12 Unless otherwise specified herein, Party B shall pay the specified fee to Party A’s bank account within the payment term set
forth herein. Name of payee: Hunnan New District non-tax revenue account; bank name: Dongling Branch, Shenyang Commercial Bank; account number: 0363010140970000015. In case of any change in Party B’s bank account, Party A shall notify Party B
in writing within 30 days thereafter. If Party A fails to notify Party B of such change in time, Party B shall not be liable for any late fee caused by delayed payment. 
 Article 13 Upon expiry of the grant term set forth herein, Party A shall be entitled to repossess the use right of granted land without paying any compensation. The ownership of the buildings and other
attachments on this land shall also be acquired by Party A without any compensation. Land user shall return land use certificate and handle land use right deregistration procedures according to regulations. 
 If Party B wishes to continue to use this land parcel, Party B shall submit a renewal application to Party A within six months prior to the
expiration of the term of land use right. After the new grant term of land use right, grant fee and other conditions are determined, Party B shall enter into a renewal contract with Party A and handle land use right registration procedures again.

 Article 14 If Party B fails to make payment on time in the second month following the signing of this Contract, or does not
commence construction on time, or suspends the project for more than six months, or fails to complete construction within the specified construction period, or land is not constructed, this Contract shall be automatically null and void and Party A
is entitled to repossess land use right without paying any compensation. 
 Article 15 During the implementation of this
Contract, if Party B fails to make any payment on time, Party B shall pay, starting from the date of delayed payment, an overdue fine at a daily rate of 0.1% of the overdue amount. If overdue fine is not paid within 30 days, Party A is entitled to
terminate this Contract and repossess part of the land or undeveloped land without paying any compensation. 
 Article 16
Neither party shall undertake the liability for its delay or failure in performing this Contract where such delay or failure is caused by or results from an event of force majerue and there is no fault on its part, but such party shall take all
necessary remedial actions to reduce the losses. 
 The prevented party shall, within 7 days, notify the other party in writing
of the circumstances of such event and within 30 days, provide to the other party a report explaining the reasons for its failure to perform all or any portion of this Contract or its need to delay the performance of this Contract. 

 Article 17 In the event that Party B cannot obtain land use right on time for causes on the
part of Party A, the grant term of land use right under this Contract shall be postponed accordingly. At the same time, Party A shall bear the economic losses thus incurred by Party B. 
 Article 18 Regardless of the payment of the total land grant fee hereunder, if Party B fails to complete investment and construction within
the time limit as set forth herein and any land remains idle, Party A shall be entitled to penalize Party B according to laws and regulations, repossess land use right without paying any compensation and cancel state-owned land use certificate.

 Article 19 The execution, validity, interpretation and performance and dispute resolutions in connection with this Contract
shall be governed by the laws of the People’s Republic of China. Any dispute arising in connection with the performance of this Contract shall be resolved by both parties through negotiations. In the event that no resolution can be reached,
such dispute may be resolved by submitting it to an arbitration organization in Shenyang for arbitration or by bringing a lawsuit to the People’s court with competent jurisdiction in Shenyang. 
 Article 20 This Contract is executed in six originals in Chinese, four to be kept by Party A and two to be kept by Party B. 
 Article 21 This Contract is signed in Shenyang, Liaoning Province on September 7, 2005 and shall become effective upon signing by the
legal representatives of both parties. 
 Article 22 In case of anything not covered herein, an annex may be attached after both
parties reach an agreement. 
  

					
	Party A: Shenyang Planning and State-owned Land Resource Bureau Hunnan New District Branch (seal)	 		 	Party B: Liaoning Nuokang Bio-pharmaceutical Co., Ltd.(seal)
			
	Legal representative: /s/ Huo Yi	 		 	Legal representative: /s/ Xue Baizhong
	September 7, 2005	 		 	

 Annex 1: 
 Supplementary Description about ShenNanTuChuHeZi (2005) No.40 Contract 
 WHEREAS Shenyang Planning and
State-owned Land Resource Bureau Hunnan New District Branch (hereinafter referred to as “Party A”) and Liaoning Nuokang Bio-pharmaceutical Co., Ltd. (hereinafter referred to as “Party B”) signed the Hunnan New District
State-owned Land Use Right Grant Contract (ShenNanTuChuHeZi (2005) No.40) on September 7, 2005, Party A and Party B hereby enter into this Annex with respect to the changes in the area of the land granted to Party B and contract price that
are based on Party B’s application and final actual surveying result. 
 1. After New District’s
planning design institute conducts the surveying and boundary determination of the F46-2 land parcel in Hunnan New District, Shenyang, which was requisitioned by Party B, the requisitioned area is changed from the original 86,421.7m2 to 88,537.7m2 and use area is changed from 67,465.2m2 to 75,023.3m2. Its scope in four directions: eastwards to the centerline of 30m-wide planned road, southwards to the south borderline
of 24m-wide planned road, westwards to land boundary and northwards to the centerline of 24m-wide planned road (as shown in the attached drawing). 
 2. The land purchase fee rate is still subject to the original rate, i.e. RMB 276/m2. The land purchase fee is changed from RMB 18,620,395.2 to RMB 20,706,430.8. Present total grant fee is RMB
10,053,122.2; compensation for land requisition is RMB 6,151,910.6; total fee for supporting facilities is RMB 4,501,398.0 (based on RMB 60 per square meter of use area). 
 3. Land category is industrial grade four based on the requirements of ShenGuiGuoTuFa (2005) No.46 document. 
 4. Party B has paid a land purchase fee of RMB 10 million to Party A. Based on the finally verified contract price in this Annex, the
outstanding land purchase fee is RMB 10,706,430.8. Party B shall pay up the outstanding land purchase fee of RMB 10,706,430.8 to Party A within 30 days after the signing of this Annex. 
 5. The grant term of land is 50 years, i.e. from September 7, 2005 to September 6, 2055. 
 6. Party B shall pay land deed tax according to this Annex. The payment and audit of grant fee are based on the receipt and is to be
approved by the New District Financial Bureau. 
 7. This Annex shall have the same legal effect as the Hunnan New District
State-owned Land Use Right Grant Contract signed on September 7, 2005. In case of any discrepancy, this Annex shall prevail. 
 8. This Annex is executed in six copies, four to be kept by Party A and two to be kept by Party B. 

					
	Party A: Shenyang Planning and State-owned Land Resource Bureau Hunnan New District Branch(seal)	 		 	Party B: Liaoning Nuokang Biopharmaceutical Co., Ltd.(seal)
			
	Legal representative: /s/ Huo Yi	 		 	Legal representative: /s/ Xue Baizhong
	March 20, 2006

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