Document:

f8k122309ex10xii_cbt.htm

    Exhibit
10.12

     

     

    Loan
agreement and pledge agreement

    

    This bank
loan agreement and pledge agreement were made among the following parties on 8
January 2009.

    

    
      	
              (A)  

            	
                Borrower
      : Guangxi Liuzhou Baicaotang

            

    

    

    
      	
              (B)  

            	
                Lender/
      Mortgagee : Agricultural Bank of
China

            

    

    

    
      	
              (C)  

            	
                Mortgagor
      : Wuxuan Baicaotang
      Medicine Limited

            

    

                  :
Baicaotang Property Development Limited

    

    

    Whereas:

    

    
      	
               
      

            	
              The
      parties are desirous to enter into this agreement and agree as
      follows:-

            

    

    

    
      	
              (1)  

            	
              The
      advance of the loan is for short term working capital purpose
      ;

            

    

    

    
      	
              (2)  

            	
              The
      fund of loan is for the purchase of drugs
;

            

    

     
 

    
      	
              (3)  

            	
              The
      loan amount is equivalent of RMB4,500,000 and the term of loan is 12
      months from January 8, 2009 to January 8,
2010;

            

    

    

    
      	
              (4)  

            	
              Interest
      was charged and fixed at 110% of the benchmark rates announced by People
      of Bank of China equivalent to the 5.841% per annum and is monthly accrued
      and to be settled monthly on 20 th of each
  month.

            

    

    

    
      	
              (5)  

            	
              Rights
      and obligation

            

    

    Borrower:

    i Proper
use of loan in accordance with the terms set as therein

    
      	
               
      

            	
              ii

            	
              Promptly
      report of any matters leading to the changes or affects of any obligation
      and rights of debts between the borrower and lenders if any by written
      notice

            

    

    
      	
               
      

            	
              iii

            	
              Providing
      the true and complete financial report and relevant information, and
      assist the investigation of the borrower’s business and financial
      activities in connection with the use of
fund.

            

    

    
      	
               
      

            	
              iv

            	
              Repayment
      in accordance with the terms as set out therein and may extend the terms
      of loan by written notice before due date by 15 days upon the consent of
      lender.

            

    

    

    
      	
               
      

            	
              Lender:

            

    

    
      	
               
      

            	
              i

            	
              Have
      the right to request Party A to repay the said loan at any time when the
      occurrence of any incidence detrimental to the possibility of
      repayment.

            

    

    
      	
               
      

            	
              ii

            	
              Have
      the rights to request Party B to obtain the information inclusive of the
      financial figures, inventory and the use of fund in connection to the loan
      .

            

    

    
      	
               
      

            	
              iii

            	
              Advance
      the loan to Party B at the time in accordance with the terms as set out in
      above

            

    

    
      	
               
      

            	
               

            

    

    
      	
              (6)  

            	
              When
      the borrower fail to repay in accordance with the prescribed period
      herewith the terms as set out above, penalty will be imposed at a rate of
      150% of the aforesaid interest rate of this contract till the repayment of
      principal and interest in arrears and will adjust at the date of the
      change of the benchmark rates announced by People of Bank of China. When
      the borrow fail to use the fund properly, penalty rate of 200% of the
      aforesaid interest rate will be imposed on the part in breach of the use
      of fund.

            

    

    

    
      	
              (7)  

            	
              Security
      of this loan agreement is in the form of the pledge and the mortgagees
      agree to pledge by means of property as follows. The pledge covers the
      principle of loan, interest, surcharge, compensation, litigation in
      connection with the enforcement of
debts.

            

    

    

    
      	
              (8)  

            	
              Value
      of asset under pledge : RMB
12,402,600

            

    

    

    
      	
              (9)  

            	
              Asset
      under pledge : Xianmi Road, Wuxuan village, Wuxuan County 2,767.41 Square
      metersf8k122309ex10xiii_cbt.htm

    Exhibit 10.13

    
 

    This
director’s loan agreement is made among the following parties on
____.

    

    
      	
              (A)  

            	
                Borrower
      : Guangxi Hefeng Pharmaceutical Co.
Limited

            

    

    

    
      	
              (B)  

            	
                Lender
      : Li Jing Hua

            

    

    

    

    Whereas:

    

    
      	
               
      

            	
              Guangxi Hefeng Pharmaceutical Co.
      Limited is in need of working capital and the parties are desirous
      to enter into this agreement whereby Li Jing Hua will advance a
      loan

            

    

    

    Now
therefore the Parties agree as follows:-

    

    
      	
              (1)  

            	
              The
      advance of the loan is for working capital purpose
  ;

            

    

    

    
      	
              (2)  

            	
              The
      use of loan is for purchase of raw materials
;

            

    

     

    
      	
              (3)  

            	
              The
      loan amount is equivalent of RMB____ and the term of loan is 12 months
      from _____ to _____  which is the due date of the principle
      loan;

            

    

    

    
      	
              (4)  

            	
              Monthly
      interest is __% and is accrued on monthly basis and to be settled on the
      due date of the loan.

            

    

    

    
      	
              (5)  

            	
              The
      source of fund for repayment to be originated from net receipts of
      sales

            

    

    

    
      	
              (6)  

            	
              Rights
      and obligation

            

    

    Part A
:

    i            Proper
use of loan in accordance with the terms set as therein

    ii            No
early repayment except from the consent of the Party B

    
      	
               
      

            	
              iii

            	
              Accept
      and assist the right of Party B for the investigation of the use of
      loan

            

    

    
      	
               
      

            	
              iv

            	
              Repaying
      in accordance with the terms as set out
therein

            

    

    
      	
               
      

            	
              v

            	
              Extension
      of loan would be granted should consent of Party B is
    obtained

            

    

    

    
      	
               
      

            	
              Party
      B:

            

    

    
      	
               
      

            	
              i

            	
              Have
      the right to request Party A to repay the said loan at any time as think
      fit

            

    

    
      	
               
      

            	
              ii

            	
              Have
      the rights to request Party B to obtain all the information in connection
      with the loan thereto.

            

    

    
      	
               
      

            	
              iii

            	
              Advance
      the loan to Party B at the time in accordance with the terms as set out in
      above.

            

    

     
 

    

    
      	
               Party
      A

               

              For
      and on behalf of

              Hefeng
      Pharmaceutical Co. Limited

            	
              Party
      B

               

              Li
      Jing Hua

            
	
               

               

               

              By:
      Hui Tian Tang

              __________________________

              Hui
      Tian Tang

            	
               

               

               

               

              By:
      Jin Hua Li        

                 Jin
      Hua Lif8k122309ex10xiv_cbt.htm

    Exhibit 10.14

     

    Leasing
Contract

    

     

    
      	 Lessor:	    (referred
      to as Party A)
	 Lessee:
      Liuzhou Baicaotang Pharmaceutical Chains Co., Ltd.   	 (referred to
      as Party B)

    

     

                                                      

    In the
purpose of stimulating economy and taking advantage of Lessor’s own business
site, according to the Contracting Laws of the
P.R.China and the relevant stipulations, Party A and Party B reach an
agreement with each other and execute this Contract as following, so as to
clarify the rights and obligation between them.

    

    Clause 1

    Address
and size of the
premises:____________,                         
square meters.

    

    Clause 2

    Leasing
term:

    The
leasing term shall be 
       years from 
        (month)         
(day)           
(year) to            
(month)   (day)          
(year).

    

    Clause 3

    Rent
standards, payment method and time:

    
      	
              1.  

            	
              Standard
      of rent: monthly rent is          
      Yuan.

            

    

    
      	
              2.  

            	
              Payment
      methods: In cash or bank transfer.

            

    

    
      	
              3.  

            	
              Payment
      time: In monthly, seasonally, or pay the whole rent of a year
      once.

            

    

    

    Clause 4

    Deposit:
Party B must pay Party A 1400 Yuan prior to signing this Contract.

    

    Clause 5

    The booth
mentioned in this Contract shall be delivered to use on Date:     
(month)      (day)  
      (year). Party B shall come into booth
within 7 days after the delivery date. It would be deemed as termination of
Contract if Party B fail to come into the booth in time, and Party A is entitled
to take the booth back and return no deposit back to Party B.

     

    Clause 6

    From the
date of signing the Contract, Party B shall not, without Party A’s permission in
written form, sublease, under lease,
transfer or pledge such booth.

    

    Clause 7

    Party B
shall, within leasing term, use the equipment, decorations and other articles
inside the booth properly with care. Party B shall not change the purpose of the
booth at discretion, and ensure the booth and the equipment inside is under good
condition. Party B shall be responsible to restore the booth back to original
condition or compensate relevant loss if there would be any damages to the booth
and the equipment inside.

     

    
      
         

      

      
        1

        
          

        

      

      
         

      

    

     

    Clause 8

    Party B
shall submit a written decoration plan of the booth to Party A for approval.
Party B may, under permission from Party A, decorate the booth at its own
without any damage to the structure of the booth.

     

    Clause 9

    Party B
shall, within the leasing term, pay all relevant taxes, sanitary fees, market
management fees, water & electricity fees, environmental protection fees and
so on.

    

    Clause
10

    Party B
must pay monthly rent and water & electricity fees in time without any
delay, otherwise, overdue fine of 0.2% of total delayed payment would be paid
each day.

    

    Clause
11

    Responsibility
of booth repairing

    
      	
              1.  

            	
              Party
      A is responsible for repairing the booth, public water and electricity
      facilities, accordingly, Party B shall give necessary cooperation to such
      repairing.

            

    

    
      	
              2.  

            	
              Party
      B shall, within the leasing term, repair all damages of scrolling door,
      door, window, ceiling, water & electricity facility inside the booth
      and so on timely, and all repairing responsibility and fees shall be borne
      by Party B.

            

    

    
      	
              3.  

            	
              Party
      A shall be responsible for the repairing of booth collapse resulted from
      natural damage or force majeure, however, Party B shall be responsible for
      all economical loss resulted from collapses due to Party B’s
      irresponsibility or man-made
damages.

            

    

    
      	
              4.  

            	
              Party
      B shall bear the decoration fees should such decoration is approved by
      Party A. Party A would has no obligation to compensate Party B for Party
      B’s decoration when the Contract is
terminated.

            

    

    
      	
              5.  

            	
              Party
      B shall not, under the termination of the Contract, dismantle all original
      decoration facilities (including water & electricity facilities).
      Party A would takeover all facilities free of charge, and the termination
      of contract could come into effect only under the approval of checking
      acceptance by Party A. Party B must compensate all losses should there be
      any damages to booth structure and facilities, and Party A is entitled to
      detain the deposit.

            

    

    

    Clause
12

    Party A
shall has no any obligation should there is any urban construction that would
influence Party B’s business. Leasing term would not remain valid if Party A
need to terminate this Contract to take back the booth in advance due to public
construction, or its own demand, or Party B fail to run its business. Both
parties shall, within 30 days in advance, inform each other in written such
termination of contract, and the counter party shall agree the termination
proposal unconditionally (should there be any party who reject to accept such
termination notice, the date of Declaration announced by the other party in South China Daily shall be
deemed as the notifying day). Party A shall not bear any compensation, and rent
shall be calculated based on actual situation. Party A shall return back the
deposit to Party B without interest should Party B would have paid all rent,
water & electricity fees, and abided by the stipulations of this Contract.
The deposit shall not offset any rent, water & electricity fees, and other
fees owed by Party B.

     

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

     

    Clause
13

    Right and
obligation of Party B

    
      	
              1.  

            	
              Party
      B is allowed to run any business without Party A’s
      interference.

            

    

    
      	
              2.  

            	
              Party
      B is entitled to use the booth which Party A leased to run the businesses
      authorized within the scope of Business
License.

            

    

    
      	
              3.  

            	
              Party
      B shall, based on the actual water & electricity readings occurred and
      in accordance with public water & electricity standards, pay Party A
      the water & electricity fees occurred last month at the same time of
      paying rent.

            

    

    
      	
              4.  

            	
              Party
      B shall, 30 days in advance of expiry date, inform Party A in written form
      should Party B plan to continue leasing such booth. Under the same
      conditions, Party B is entitled to enjoy a privilege to continue
      leasing.

            

    

    
      	
              5.  

            	
              Party
      B shall abide by the relevant laws and regulations, as well as the
      regulations of property management, and must run its business within the
      scope of the area it leased, and Party B must not block the public road or
      put tables & chairs at the public accesses, or install or re-install
      pipeline or wires.

            

    

    
      	
              6.  

            	
              Party
      B shall purchase the necessary fire-fighting equipment at its own, keep in
      mind the fire-fighting and safety. Electricity overload or opening fire is
      prohibited inside the booth, all losses resulted from so violation or
      ignorance shall be borne by Party B, and Party A has absolutely no
      responsibility.

            

    

    
      	
              7.  

            	
              Party
      B shall keep the commodities inside the house and cover all insurance of
      such commodities. Party B shall be responsible for all losses should it
      would hadn’t cover necessary insurance. Party A shall hold no
      responsibility for any economical losses resulted from steal, fire, rain
      and so on.

            

    

    

    Clause
14

    Right and
obligation of Party A

    
      	
              1.  

            	
              Party
      A is entitled to require Party B to pay rent and water & electricity
      fees in time.

            

    

    
      	
              2.  

            	
              Party
      A is entitled to monitor whether Party B violates the
      Contract.

            

    

    
      	
              3.  

            	
              Party
      A shall respect Party B’s right in business, and shall not interfere
      normal business activities of Party
B.

            

    

    
      	
              4.  

            	
              Party
      A shall, upon the expiry of the Contract, return the deposit without
      interest back to Party B should Party B has no any violation against the
      Contract.

            

    

    
      	
              5.  

            	
              Party
      A is entitled to, without returning back deposit to Party B, terminate the
      Contract under the following conditions. Party B must bear relevant
      responsibility of compensation should there is any losses occurred to
      Party A.

            

    

    
      	
              (1)  

            	
              Changing
      nature of booth usage at
discretion;

            

    

    
      	
              (2)  

            	
              Subleasing,
      under-leasing, transferring or pledging the
  booth;

            

    

    
      	
              (3)  

            	
              Using
      the booth for illegal activities;

            

    

    
      	
              (4)  

            	
              Rejecting
      or delaying to pay rent for over 1
month;

            

    

    
      	
              (5)  

            	
              Fire
      accidents resulting from failure to comply with the stipulations in the
      Contract;

            

    

    
      	
              (6)  

            	
              Violating
      the relevant stipulations of the
Contract.

            

    

    

    Should
any conditions above occur which result in Party A’s termination for this
Contract, or Party B reject to move out from this booth without the renewal
contract, which resulting to Party A couldn’t take the booth back, Party A is
entitled to require Party B to bear the rent during Party B’s detention period,
and pay penalty of contract breach amounting 1-2 times the rent.

     

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

     

    The rent
and penalty of contract breach shall be calculated until the day when Party B
move out from the booth and return back the key of the booth to Party A, or
expiry date of movement announced by Party A. Party A may require Party B to
move out from the booth within a certain term with a announcement in North China
Daily, and the movement term shall be 10 days following Party A’s announcement
in such newspaper.

    

    Party A
is entitled to move all articles out from the booth the next day following the
movement term announced, and all carriage and storage fees shall be borne by
Party B. Party A shall not be responsible for any loss and damage of articles
resulting from such carriage and storage. The substituted storage term would be
15 days. Party B shall pay Party A 15 Yuan each day for storage fees during such
term. Upon expiry of substituted storage term, Party A is entitled to dispose
these articles at discretion should Party B fails to take such articles back,
and Party A shall not hold any responsibility for compensation.

    

    Clause
15

    Taxation:
both Party A and Party B shall pay the relevant tax respectively in accordance
with corresponding stipulations.

    

    Clause
16

    Solution
to dispute of contract: all disputes resulted from this Contract shall be
disposed by both parties through negotiation. If fails, it will be submitted to
the people’s court that has the jurisdiction over the matter.

    

    Clause
17

    This
Contract shall enter into force upon Party A’s official seal, Party B’s
signature and handover of the said booth.

    

    Clause
18

    This
Contract is made in triplicate, Party A holds two and Party B one
copy.

     

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

     

    Party A:                        

    

    Signing Representative:                    

    

    Tel:                          

    

    Date of Signature:                    

    

    

    

    Party B: Liuzhou Baicaotang
Pharmaceutical Chains Co., Ltd.

     

    
      Signing Representative:                    

      

      Tel:                          

      

      Date of Signature:                    

      
 

       

      5

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