Document:

ex1024.htm

Exhibit 10.24

Standard Master Supplier Agreement

Contract No.:_____________

Party A (Buyer): Xi’an Qinba Pharmaceuticals Co., Ltd.

Party B (Seller):

 

The parties hereto, in accordance with the Contract Law of the People's Republic of China, through amicable negotiations, reach this Master Supplier Agreement (the “Agreement”) as follows:

 

I. Name, Quantity and Price (Please refer to Appendix)

 

The agreed goods unit price in this Agreement includes purchase price and expenses in connection with after-sale services, including, but not limited to transportation expenses, insurance expenses, unloading expenses, ancillary data expenses, package probationary expenses, expenses of reagent consumables materials during inspection and acceptance, mandatory inspection expenses from third party supervision and inspection organization, training expenses, and after-sale service expenses. The unit price is determined in the + 10% to 15% range of prevailing market price, provided that it is agreed by both parties. The quantity of goods is based on and determined by Party A’s operational needs. Available goods varieties are not limited by the varieties listed in this Agreement, the unit price of which should be determined by both parties upon negotiation, unless both parties agree that it should otherwise be amended in writing.

II. Quality Requirements

 

	
1.  

	
Goods provided by Party B shall comply with o national standard of the People's Republic of China, o industry standard, o local standard,

o product quality standard of the manufacturer, o relevant technical specifications formulated by related governmental Departments,

o quality status and functional performance stated in product instructions.

	
2.  

	
Goods provided by Party B shall be brand new, equipped with certificate of inspection, and from legal supplying channel.

	
3.  

	
Goods provided by Party B shall meet the following technical indications and parameters: o requirements in notice documents, o product instructions; o refer to Appendix; o descriptions here

 

III. Delivery, Inspection and Acceptance

 

	
1.  

	
Delivery location and date: specified in Party A’s notice document

	
2.  

	
Party B shall supply Party A with the corresponding and complete technical documents of the goods under this contract.

	
3.  

	
Party B shall guarantee that goods package meets the requirements of transportation, protecting goods from being rusted, destroyed or misplaced in transportation process.

	
4.  

	
Party B is responsible for the delivery to an agreed location, and shall pay all the costs incurred from transportation, including, but not limited to, transportation expenses, insurance expenses, and unloading expenses.

	
5.  

	
Upon delivery, Party A shall inspect the goods within 10 days. Inspection and acceptance shall include, but not limited to: (1) specifications, quantity and exterior look; (2) the enclosed technical information; (3) components and configuration; and (4) technical parameters and standards such as functions and performance.

	
6.  

	
Inspection and acceptance standards: o the specifications in this Agreement o the delivery sample in the notice document (if available).

	
7.  

	
Where Party A accepts all the goods ordered, Party A shall issue a compliance certification, upon which the goods are regarded as accepted.

	
8.  

	
Where Party A determines that goods are not in accordance with the specifications in the Agreement, Party A is entitled to reject the goods and issue a notice of rejection within 5 days. Party B shall re-deliver the goods in accordance with the specifications in the Agreement; otherwise, Party B will be regarded as late delivery.

	
9.  

	
Where Party B holds different opinion on the inspection result, Party B may ask the local Commodity Inspection Department to recheck. If recheck result shows that goods are not in accordance with the specifications in the Agreement, the recheck fees shall be borne by Party B; if recheck result shows that goods are in accordance with the specifications in the Agreement, then the recheck fees shall be borne by Party A.

 

  

  

  

 

IV. Payment

 

	
  

	
The price shall be paid in full amount within 60 days after goods are accepted as qualified (applicable for goods with total amount of less than RMB 100,000).

 

V. After-sale service terms shall be otherwise determined by both parties.

  

VI. Liability for Breach

 

	
1.  

	
Both parties shall implement this Agreement; either party fails to fulfill its duty shall undertake the liability for breach. The breaching party shall bear the loss incurred to the non-breaching party, including, but not limited to, direct economic loss, indirect economic loss, attorney fees, travel fees, and transportation fees incurred from the non-breaching party’s investigation.

	
2.  

	
Where goods supplied by Party B are not in accordance with the specifications in the Agreement, and Party B refuses to re-deliver, Party may reject the goods, and Party B shall pay Party A a penalty fee which equals 5% of total price.

	
3.  

	
If Party A rejects to receive goods without justifiable reason, Party A shall pay Party B a penalty fee which equals 5% of total price.

	
4.  

	
Regarding late delivery, Party B shall pay Party A a penalty fee which equals 3‰ of total price per day. Where delay period exceeds 5 days, Party A may terminate this Agreement.

 

 VII. Assumption of Risk

 

	
1.  

	
The assumption of risk of loss is switched from Party B to Party upon inspection and acceptance.

	
2.  

	
Where Party A refuses to accept goods or terminate the Agreement because of defects, Party B shall bear the risk of loss.

	
3.  

	
Where Party A bears the risk of loss, and it shall not influence Party B to fulfill its duty, Party A shall be entitled to request Party B to undertake the breaching liability.

	
4.  

	
Where Party B bears the risk of loss, and if goods are destroyed or lost, Party B shall re-deliver goods in accordance with the specifications in the Agreement within 3 days; otherwise, Party B will be regarded as late delivery.

	
5.  

	
Where Party A bears the risk of loss, it does not exempt Party A from payment.

 

VIII. Disputes arising from this Agreement shall be resolved through negotiation. Where negotiation fails, both parties may file a lawsuit in the local People’s Court located in the place of execution of the Agreement.

 

IX. This Agreement shall be made into two copies, and each copy shall have the same legal effects. This Agreement is effective upon execution by both parties. For other terms not mentioned, they should be solved by negotiation of both parties.

 

 

	
Party A (seal):

Xi’an Qinba Pharmaceuticals Co.,Ltd.

	
Party B (seal):

 

	  	  
	
Authorized Representative(signature):

 

	
Authorized Representative(signature):

 

	  	  
	
Date:

	
Date:ex1025.htm

Exhibit 10.25

 

Factory Workshop and Electrical Renovation Project Contract

 

 

Owner: Xi’an Qinba Pharmaceuticals Co. Ltd. (Hereinafter “Party A”)

 

Contractor: Shaanxi Zi’an Property Development Limited Company (Hereinafter “Party B”)

 

In accordance with the Law of the People's Republic of China on Economic Contracts as well as relevant regulatory provisions by the State Administration of Construction (“SAC”) and Shaanxi Construction Committee, both Party A and Party B reach agreement (the “Contract”) as follows:

 

	
1.  

	
Project overview and contracting plan

	
a.  

	
Project name: the renovation of factory workshop of Xi’an Qinba Pharmaceuticals Co. Ltd (the “Project”)

	
b.  

	
Project site: Xi’an Qinba Pharmaceuticals Co. Ltd

	
c.  

	
Contracting plan: contract for labor and materials

	
d.  

	
Project overview: see attachment

	
2.  

	
Project content

Factory workshop and electrical renovation

	
3.  

	
Project costs

Renovation costs are based on construction drawings as well as the operating and design requirements of Party A.

The total cost of this Project is: RMB 22,000,000. (Based on the unit price affirmed by Party A, upon completion, the cost will be based on auditing.)

	
4.  

	
Project duration

Date of commence: December 1, 2011

Completion date: July. 31, 2012

	
5.  

	
Quality requirements

All requirements are based upon professional standard of Architectural Decoration Project Construction Inspection by the SAC, and standards issued by the provincial construction committee and fire department, and the quality should reach the standard of “City Superior”. If quality issues occur after completion (not including issues caused by the use of Party A or any artificial damage), and Party B is responsible, Party A will enjoy one year free warranty and life-long repair service.

	
6.  

	
Payment

	
a.  

	
Party A shall pay Party B 80% of total project upon execution of this document.

	
b.  

	
Halfway of Project progress, Party A shall pay Party B 10% of total project costs.

	
c.  

	
Upon completion of the Project, Party A shall pay Party B 5% of total project costs.

	
d.  

	
The final payment will serve as guarantee money and shall be paid to Party B within one year after the completion.

	
7.  

	
Obligations

	
a.  

	
Party A is obligated to provide 1) operating and design requirements of the Project, 2) Party B’s on-site use of water and electricity, 3) a construction materials transportation channel as well as necessary material storage area and design drawings, and 4) power distribution system, piping system, main valve position for water supply and drainage involved in decoration project; the construction site should be neat.

	
b.  

	
Party B is responsible to provide project decoration construction drawings and project quoted price for Party A.

	
8.  

	
Other matters

Both parties agree to the followings:

	
a.  

	
The construction duration may be extended under special circumstances or force majeure. The responsible party shall be responsible for all the extra cost incurred.

	
b.  

	
When the Project is amended or the material and workmanship has been changed, Party A shall affirm the comprehensive unit price and the final price should be signed by the person in charge on the site by Party A, and the adjustment shall be made to the final accounts of the completed Project. (If the change has been confirmed by Party A but Party A does not sign the certificate, the amount incurred remains effective.)

	
c.  

	
When the work amount changed, the calculation will be determined by auditing of the completed construction.

	
d.  

	
If either party breaches this Contract, the other party may appeal to the competent department or the arbitration organization.

	
e.  

	
Other matters shall be settled through negotiation between both parties.

	
f.  

	
This document shall be provided in two copies, with each party holding one copy with signatures of both parties. Both copies have the equal legal effect.

 

 

	Owner: 	Contractor:
	 	 
	Xi’an Qinba Pharmaceuticals Co. Ltd.	Shaanxi Zi’an Property Development Limited Company
	 	 
	(Official seal)	(Official seal)
	 	 
	Legal representative: 	Legal representative:
	 	 
	Entrusted agent	Entrusted agent
	 	 
	 	Nov. 29, 2011

 

  

1

  

 

Attachment:

 

 

	
High efficiency particulate air (HEPA) filter in workshop renewal

	
Change of consumable items and filter of air-conditioning, water supply, air compression and boiler system

	
Air conditioning vents (air intakes of roof and some air outlets)

	
Anti-explosion storeroom reform

	
Change of broken glasses

	
Rust removal of equipment

	
Pipeline and line pave for workshop and inspection center

	
Atomic absorption exhaust facilities

	
Verify of instrument and meter

	
Old freezer of auxiliary material is too small and need to build a new cooling plant

	
Change and repair of allotropic color steel plate wall

	
Replace of floor arc corner section

	
Renewal of return air inlet racks and LED lighting

	
Storage room for highly toxic reagent

	
Interlocking system for all buffer rooms ( 4 suits)

	
Dryer hydrofuge blast pipe system to prevent flow backward in oral solid workshop

	
Renewal of all filters related to straight exhaust system

	
Differential pressure indicating device is broken and need a new one

	
Change of door locks

	
Reform dust exhaust facilities of oral solid weighting room, smash room, capsule filling room, tableting room and sugarcoating room

	
Renewal of electrical equipment of anti-explosion room in cleaning area

	
Ground repair

	
Workshop roof leak, water seepage and shed walls

	
Fire-fighting device of workshop

	
Reform liquid meter of water storage tank and makeup tank

	
Reform of traditional Chinese medicine and label storeroom

 

 

 

2

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