Document:

ex10-1.htm

Exhibit 10.1

INVESTMENT BANKING AND CORPORATE FINANCE ADVISORY

SERVICES AGREEMENT

FRIEDLAND CAPITAL INC. ("FRIEDLAND") hereby agrees to provide to Hebei Wu’an Yuanbaoshan Industry Group Co., Ltd. (the "Company") Investment banking and Corporate Finance Advisory Services designed to achieve the Company's corporate finance objectives, specifically with the objective of the Company's shares (or the shares of a successor entity controlled by the Company or its shareholders) becoming publicly-traded in the United States.

 

 

	
1.  

	
General Summary of Advisory Services

FRIEDLAND agrees to provide to the Company general advisory services, which shall include:

	
·  

 

	
Determination of the corporate finance strategy

 

	
·  

	
Assistance in the selection of a firm for pre listing accounting/auditing services

 

	
·  

	
Assistance in the selection of a U.S. auditing firm

 

	
·  

	
Assistance in the selection of a Chinese corporate lawyer and a U. S. securities lawyer

 

	
·  

	
Assistance in the selection of a US based independent director

 

	
·  

	
Assistance in the selection of a US based chief financial officer (CFO) who is familiar with US Generally Accepted Accounting Principles (GAAP) and SEC filing requirements for US publicly-traded companies.

 

	
·  

	
Assistance in establishing a holding company (the "Holding Company") that will become the publicly traded entity in the U.S.

 

	
·  

	
Assistance in positioning the Company for presentation to investors with the objective of obtaining pre-listing private placement investment. This shall include preparation of a PowerPoint presentation, corporate profile and business plan, and working with the US securities lawyer regarding the structuring and preparation of offering documents and investor subscription materials

 

	
·  

	
Preparation of a corporate profile for the Company

 

	
·  

	
Preparation of a business plan

 

	
·  

	
Assistance in coordinating with the Company's US legal counsel, the auditor and other experts in the preparation and filing of the appropriate filings for the Holding Company to be filed with the U.S. Securities & Exchange Commission (SEC).

 

	
·  

	
As a first step in working towards a NASDAQ listing, assistance in working with a Financial Industry Regulatory Authority (FINRA) market maker regarding the preparation and filing of a Form 211 with FINRA for the trading of the Company's shares on the OTC Bulletin Board, and then, once the Company meets the requirements for NASDAQ, assisting the Company and its US legal counsel in the preparation of a NASDAQ listing application.

 

	
·  

	
Assistance in positioning the Company for a listing on NASDAQ, which will include FRIEDLAND's investor relations and awareness program, which will commence once the Company's shares begin trading on the OTC Bulletin Board. The objective of the investor relations and awareness program will be to increase the number of public shareholders and the number of shares to be held by public shareholders to meet NASDAQ's minimum shareholder, public float and other listing requirements.

 

  

1

  

 

The objective of the Company's shares becoming publicly-traded will not be to initially raise a substantial sum of capital, but instead to become publicly traded so that the Company will have access to the capital markets, specifically through private equity transactions including PIPE (Private Investments in Public Equity) transactions as a publicly-traded company.

The corporate finance advisory services provided by FRIEDLAND will cease upon the Company's shares becoming traded on NASDAQ. However, if after the Company's shares start trading on the OTC Bulletin Board, the Company engages another firm to provide Investor Relations and awareness services, or as a corporate finance advisory or investment banker, FRIEDLAND's Investor Relations and awareness services will cease. After the Company's shares are traded on NASDAQ, the Investor Relations services will be provided by FRIEDLAND, subject to the Company desiring FRIEDLAND to provide these Investor Relations services, and subject to FRIEDLAND being compensated by the Company for the Investor Relations services on an ongoing basis, with the cost for the services being mutually agreed upon by the Company and FRIEDLAND. And, although the corporate finance advisory services will terminate upon the trading of the Company's shares on NASDAQ, or sooner, as indicated above in the event that the Company engages another firm as an investment banker or corporate finance advisor, if desired by the Company and agreed to by FRIEDLAND, FRIEDLAND will continue to provide corporate finance advisory services and will assist the Company in achieving its corporate finance objectives.

	
2.  

	
Costs for Advisory Services

The Company agrees to pay to FRIEDLAND for the advisory services to be provided by FRIEDLAND the following fees based on certain benchmarks being reached:

	
·  

	
RMB 400,000 within three working days after the execution of this Agreement and prior to the initiation of any services by FRIEDLAND;

 

	
·  

	
RMB 400,000 within three working days before the engagement of U.S Auditor.

 

	
·  

	
RMB 400,000 within three working days before a U.S. Road show.

 

	
·  

	
RMB 900,000 within three working days after the receipt of funds by the Company from a pre-listing private placement;

 

	
·  

	
RMB 300,000 within three working days after the commencement of trading of the Company’s shares on the OTC BB.

 

	
·  

	
RMB 300,000 within three working days after the Company's shares becoming publicly-traded in the NASDAQ.

 

The investment banking and corporate finance advisory services to be provided by FRIEDLAND shall commence upon the receipt by FRIEDLAND of an executed copy of this Investment Banking and Corporate Finance Advisory Services Agreement and the payment by the Company to FRIEDLAND of the initial investment banking and corporate finance advisory fee.

In the event that any payments due under this Agreement are not paid when due, FRIEDLAND shall immediately have the option of stopping its services until such time as the past due payments are made, and a penalty of 0.1% on the payment due will be charged on a daily basis.

 

  

2

  

 

The Company shall pay to FRIEDLAND penalty at double amount of the total costs for advisory  services stated in this agreement, in case that certain Company behavior is in violation of this agreement, or the Company terminates this agreement without reason, or provides any false information that leads to the failure to perform its duty correspondingly by FRIEDLAND.

FRIEDLAND shall return to the Company all cash payments made to FRIEDLAND, in the event that the Company is not able to go public in the U.S. due to gross negligence or unlawful misconduct by FRIEDLAND.

	
3.  

	
Disclosure

It is anticipated that the Holding Company will be the company that will become the publicly traded entity. The Holding Company will be compensating FRIEDLAND, and/or an affiliate of FRIEDLAND based on the estimate of the number of shares to be outstanding upon the registration statement being filed with the SEC in an amount estimated to represent 12% of the shares of the Holding Company outstanding upon the Company's shares becoming publicly-traded. FRIEDLAND, and/or an affiliate of FRIEDLAND shall have the option to allocate all or a portion of these shares to other parties.

Payments due under this Agreement shall be paid by wire transfer.

	
4.  

	
Representation and Warranties

The Company represents and warrants to FRIEDLAND as follows:

	
a.  

	
The Company has been duly formed;

 

	
b.  

	
The execution of this Agreement has been duly authorized by the Company and does not require the consent of or notice to any party not previously obtained or given, and

 

	
c.  

	
The Company shall indemnify and save FRIEDLAND harmless against any claims, damages, liabilities and causes of action, including but not limited to reasonable attorney fees, which arise by reason of the consulting services provided by FRIEDLAND hereunder, or by reason of an act FRIEDLAND may do on behalf of, or at the request of the Company, provided that FRIEDLAND's actions and activities in providing the advisory services hereunder, and any such act undertaken by FRIEDLAND on behalf of, or at the request of the Company, consistent with the provisions of this Agreement are undertaken in good faith, and do not involve gross negligence or unlawful misconduct by FRIEDLAND;

 

	
d.  

	
The Company will provide accurate financial statements and other company documents;

 

	
e.  

	
The Company will maintain the confidentiality of information provided by FRIEDLAND;

 

	
f.  

	
The Company will have a qualified Chinese and English translator and interpreter available to it throughout the term of this contract.

 

FRIEDLAND represents and warrants to the Company as follows:

	
a.  

	
FRIEDLAND has been duly formed under the laws of the United States in the State of Colorado;

 

	
b.  

	
The execution of this Agreement and the performance of FRIEDLAND's obligations hereunder does not require the consent of or notice to any party not previously obtained or given and there is nothing that prohibits or restricts the execution by FRIEDLAND of this Agreement or its performance of its obligations hereunder attached hereto;

 

	
c.  

	
FRIEDLAND will maintain the confidentiality of information provided to FRIEDLAND by the Company, unless it needs to be disclosed to governmental regulatory authorities or provided to financing sources.

 

  

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5.  

	
Covenants

Each of FRIEDLAND and the Company covenants that it will diligently, skillfully and in good faith do and perform the acts and duties required herein.

	
6.  

	
Miscellaneous

	  	
6.1

	
Notice. All notices, requests, demands, directions and other communications ("Notices") provided for in this Agreement shall be in writing and shall be mailed or delivered personally or sent by facsimile to the applicable Party at the address of such Party set forth below in this Section 6.1. When mailed, each such Notice shall be sent by first class, certified mail, return receipt requested, enclosed in a postage prepaid wrapper, and shall be effective on the third business day after it has been deposited in the mail. When delivered personally, each such Notice shall be effective when on the first business day on which or after which it is delivered to the address for the respective Party set fo rth in this Section 6.1. When sent by facsimile, each such Notice shall be effective on the first business day on which or after which it is sent. Each such Notice shall be addressed to the Party to be notified as shown below:

THE COMPANY:

Hebei Wu’an Yuanbaoshan Industry Group Co., Ltd.

FRIEDLAND:  FRIEDLAND CAPITAL INC.

Attention: Jeffrey O. Friedland, Managing Director

789 Sherman Street, Suite 550

Denver, CO 80203

Fax: 1-303-957-1463

Either Party may change its respective address for purposes of this Section 6.1 by giving the other Party Notice of the new address in the manner set forth above.

	  	
6.2

	
Severability. Whenever possible, each provision of this Agreement shall be interpreted in such a manner as to be effective and valid under applicable law. If any provision of this Agreement shall be or become prohibited or invalid in whole or in part for any reason whatsoever, that provision shall be ineffective only to the extent of such prohibition or invalidity without invalidating the remaining portion of that provision or the remaining provisions of this Agreement.

	  	
6.3

	
Non-Waiver. The waiver of any Party of a breach or a violation of any provision of this Agreement shall not operate or be construed as a waiver of any subsequent breach or violation of any provision of this Agreement.

 

  

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6.4

	
Best Efforts Undertaking. It is understood that the advisory services to be provided by FRIEDLAND are being provided on a best-efforts basis, and that there is no guarantee that the advisory services to be provided by FRIEDLAND will result in the Company, or the Holding Company in fact become publicly-traded, due to a number of factors, including general economic and market conditions, changes in governmental, stock exchange, FINRA or other regulations, due diligence results, and the financial condition of the Company as evidenced by the Company's to be prepared audited financial statements.

	  	
6.5

	
Amendment. No amendment or modification of this Agreement shall be deemed effective unless and until it has been executed in writing by the Parties to this Agreement. No term or condition of this Agreement shall be deemed to have been waived, nor shall there be any estoppel to enforce any provision of this Agreement, except by a written instrument that has been executed by the Party charged with such waiver or estoppel.

	  	
6.6

	
Inurement. This Agreement shall be binding upon all of the Parties, and it shall benefit, respectively, each of the Parties, and their respective employees, agents and successors. Except as expressly provided herein, there are no third party beneficiaries to this Agreement, and this Agreement shall not be assignable by any party.

	  	
6.7

	
Headings. The headings to this Agreement are for convenience only; they form no part of this Agreement and shall not affect its interpretation.

	  	
6.8

	
Counterparts. This Agreement may be executed in one or more counterparts, all of which taken together shall constitute a single instrument.

	  	
6.9

	
Arbitration. Any controversy or claim arising out of or relating to this agreement, or the breach thereof, shall be settled through negotiation as initial effort, and then seek arbitration in China International Economic And Trade Arbitration Commission if the initial effort fails.

	  	
6.10

	
Choice Of Law. This Agreement shall be construed in accordance with the laws of the United States of America, and parties agree to the sole jurisdiction of courts in the State of Colorado in the event of any dispute.

IN WITNESS WHEREOF, the Parties have executed this Agreement, as of the dates set forth below.

The Company:

HEBEI WU’AN YUANBAOSHAN INDUSTRY GROUP CO., LTD.

/s/ Liu Beifang                                    Title Legal Representative of Hebei Wu’an Yuanbaoshan Industry Group Co., Ltd.

Date 12/07/2009

FRIEDLAND CAPITAL INC.

/s/ Kristina Wang                                                       Date             December 7, 2009

Kristina Wang, Managing Director

 

  

5ex10-3.htm

Exhibit 10.3

 

EXCLUSIVE OPTION AGREEMENT

BETWEEN

NUOSEN (HANDAN) TRADING CO., LTD

AND

FAKEI INVESTMENT (HONGKONG) LIMITED,

HEBEI WU’AN YUANBAOSHAN INDUSTRY GROUP CO., LTD.

NUOSEN (HANDAN) TRADING CO., LTD

【time】

HANDAN, CHINA

 

 

 

 

Exclusive Option Agreement

This Exclusive Option Agreement (the “Agreement”) is entered into as of【】between the following Parties in Handan.

 

 

Party A:                                NUOSEN (HANDAN) TRADING CO., LTD

Registered Address: 1-1-3 No. 50, Congtai Rd., Congtai District, Handan City

Legal Representative: LIU Maicang

Party B:

1 FAKEI INVESTMENT (HONGKONG) LIMITED, is an enterprise incorporated and existing in Hongkong, owns 30 % shares of HANDAN HONGRI METALLURGY CO., LTD.;

 

2HEBEI WU’AN YUANBAOSHAN INDUSTRY GROUP CO., LTD., is an enterprise incorporated and existing within the territory of China, owns 70% shares of HANDAN HONGRI METALLURGY CO., LTD.

Party C: HANDAN HONGRI METALLURGY CO., LTD

Registered Address: Guzhen Village, Yetao Town, Wu’an City, Hebei Province.

Legal Representative: LIU Shenghong

In this Agreement, Party A, Party B, Party C are called collectively as the “Parties” and each of them is called as the “Party”.

 

  

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WHEREAS:

1.           Party A is a wholly foreign-owned enterprise incorporated under the laws of the People’s Republic of China (the “PRC”);

2.           Party C is a limited liability company and with business license issued by the Handan Administration for Industry and Commerce;

3.           As of the date of this Agreement Party B are shareholders of HANDAN HONGRI METALLURGY CO., LTD (hereinafter referred to as “Opco”) and collectively legally hold all of the shares interest of Opco.

 

 

NOW, THEREFORE, the Parties through mutual negotiations hereby enter into this Agreement according to the following terms and conditions:

 

 

1.           THE GRANT AND EXERCISE OF PURCHASE OPTION

 

	
1.1  

	
Grant: Party B hereby grant Party A an irrevocable exclusive purchase option to purchase all or part of the shares of Opco, currently owned by any of Party B; Opco further hereby grant Party A an irrevocable exclusive purchase option to purchase all or part of the assets and business of Opco, in each case in accordance with Article 1.3 of this Agreement (the “Option”). The aforesaid purchase options are irrevocable and shall be exercised only by Party A (or the qualified persons appointed by Party A). The term “person” used herein shall include any entity, corporation, partnership, joint venture and non-corporate organizations.

	
1.2  

	
Exercise Procedures:

1.2.1  Party A shall notify Party B in writing prior to exercising its option (the “Option Notice” hereinafter).

1.2.2  The next day upon receipt of the Option Notice, Party B and Opco, together with party A (or the qualified person appointed by Party A), shall promptly compile a whole set of documents (the “Transfer Documents”) to be submitted to the government bodies for approving the shares or assets and business transfer in connection with the Option exercise so that the shares or assets and business transfer can be transferred, in whole or in part.

1.2.3  Upon the completion of the compilation of all the Transfer Documents and the Transfer Documents being confirmed by Party A, Party B and Opco shall promptly and unconditionally obtain, together with Party A (or the qualified person appointed by Party A), all approvals, permissions, registrations, documents and other necessary approvals to effectuate the transfer of the shares and remaining assets and business of Opco in connection with the Option exercise.

	
1.3  

	
Exercise Condition: Party A may immediately exercise the option of acquiring the shares or remaining assets and business of Opco whenever Party A considers it necessary to acquire Opco and it is doable in accordance with PRC laws and regulations.

  

2

  

 

2.           PRICE OF ACQUISITION

	
2.1  

	
The total Transfer Price shall be the minimum price permitted under the PRC Law then applicable.  All Transfer Price received by Party B shall be refunded to Party A or Opco at no consideration or the minimum consideration permitted under the PRC Law then applicable, whichever is more.  Refund of the Transfer Price shall be made by Party B by an appropriate manner decided by Party A. Transfer Price means all the considerations which Party A or its designated entity or individual is obliged to pay to Party B or the Opco for the Option in each exercise.

 

	
2.2  

	
Party A has the discretion to decide the time and arrangement of the acquisition, provided that the acquisition will not violate any PRC laws or regulations then in effect.

3.           REPRESENTATIONS AND WARRANTIES

	
3.1  

	
Each party hereto represents to the other Parties that: (1) it has all the necessary rights, powers and authorizations to enter into this Agreement and perform its duties and obligations hereunder; (2) Party B warrant, represent and guarantee that this Agreement shall be in compliance with any and all applicable PRC laws and shall indemnify, defend and hold harmless Party A and Opco for all fines, penalties, damages or claims sustained by Party A or Opco arising out of Party B’s violation of this section; and (3) the execution or performance of this Agreement shall not violate any contract or agreement to which it is a party or by which it or its assets are bounded.

	
3.2  

	
Party B and Opco hereto represent to Party A that: With respect to the shares interest held by Party B in Opco, except as otherwise disclosed to Party A, (1) Party B are legally registered shareholders of Opco and have paid Opco the full amount of their respective portions of Opco's registered capital required under the PRC laws; (2) except Pledge of Shares Agreement, signed by and between Party B and Party A on 【day】in Handan, none of Party B, has mortgaged or pledged his shares of Opco, nor has either of them granted any security interest or borrow against his shares of Opco in any form; and (3) none of Party B has sold or will sell to any third party its shares in Opco.

With respect to the assets of Opco which may be transferred to Party A at Party A’s option hereunder, except as otherwise disclosed to Party A, (1) Opco owns all such assets and has not mortgaged or pledged or otherwise encumber such assets; and (2) Opco has not sold or will sell to any third party such assets.

	
3.3  

	
Opco hereto represents to Party A that: (1) it is a limited liability company duly registered and validly existing under the PRC law; and (2) its business operations are in compliance with applicable laws of the PRC in all material aspects.

 

  

3

  

4.           COVENANTS

 

The Parties further agree as follows:

	
4.1  

	
Before Party A has acquired all the shares/assets and business of Opco by exercising the purchase option provided hereunder, Opco shall not:

4.1.1                 sell, assign, mortgage or otherwise dispose of, or create any encumbrance on, any of its assets, operations or any legal or beneficiary interests with respect to its revenues (unless such sale, assignment, mortgage, disposal or encumbrance is relating to its daily operation or has been disclosed to and agreed upon by Party A in writing);

4.1.2                 enter into any transaction which may materially affect its assets, liability, operation, shareholders’ shares or other legal rights (unless such transaction is relating to its daily operation or has been disclosed to and agreed upon by Party A in writing); and

4.1.3                 distribute any dividend to its shareholders in any manner.

	
4.2  

	
Before Party A has acquired all the shares/assets/business of Opco by exercising the purchase option provided hereunder, Party B and Party C shall not:

4.2.1                 sell, assign, mortgage or otherwise dispose of, or create any encumbrance on, any of the shares held by them in Opco, except for the pledge of such shares made according to the Shares Pledge Agreement, signed by and between Party B and Party A on 【】in Handan.

	
4.3  

	
Before Party A has acquired all the shares/assets/business of Opco by exercising the purchase option provided hereunder, Party B and/or Opco shall not individually or collectively:

4.3.1                 supplement, alter or amend the articles of association of Opco in any manner to the extent that such supplement, alteration or amendment may have a material effect on Opco's assets, liability, operation, shareholders’ shares or other legal rights;

4.3.2                 cause Opco to enter into any transaction to the extent such transaction may have a material effect on Opco's assets, liability, operation, shareholders’ shares or other legal rights (unless such transaction is relating to Opco's daily operation or has been disclosed to and agreed upon by Party A in writing); and

 

	
4.4  

	
Party B shall entrust Party A to manage Opco in accordance with Entrusted Management Agreement, signed by and between Party B, Opco and Party A on 【】in Handan.

 

  

4

  

	
4.5  

	
Non Competition:

When Party A exercises the Option, each of Party B and Opco irrevocably and unconditionally agree and undertake to Party A that it will not without the prior written consent of Party A:-

a.      be directly or indirectly engaged or concerned (whether as an employee, agent, independent contractor, consultant, advisor or otherwise) in the conduct of any business competing with Party A’s Business (the “Business”);

b.      carry on for his/its own account either alone or in partnership or be concerned as a director or shareholder in any company engaged in any business competing with the Business;

c.      assist any person, firm or company with technical advice or assistance in relation to any business competing with the Business;

d.      solicit or entice away or attempt to solicit or entice away the custom of any person, firm, company or organization who shall at any time have been a customer, client, distributor or agent of Party A or in the habit of dealing with Party A;

e.      solicit or entice away or attempt to solicit or entice away from Party A any person who is an officer, manager or employee of Party A whether or not such person would commit a breach of his contract of employment by reason of leaving Party A;

f.      in relation to any trade, business or company, use any name in such a way as to be capable of or likely to be confused with the name of Party A and shall use all reasonable endeavors to procure that no such name shall be used by any other person, firm or company;

g.      otherwise be interested, directly or indirectly, in any business competing with the Business.

5.           ASSIGNMENT OF AGREEMENT

	
5.1  

	
Party B and Opco shall not transfer their rights and obligations under this Agreement to any third party without the prior written consent of Party A.

 

	
5.2  

	
Each of Party B and Opco hereby agrees that Party A shall have the right to transfer all of its rights and obligation under this Agreement to any third party whenever it desires. Any such transfer shall only be subject to a written notice sent to Party B and Opco by Party A, and no any further consent from Party B and Opco will be required.

 

  

5

  

6.           CONFIDENTIALITY

The Parties acknowledge and confirm that any oral or written materials exchanged by the Parties in connection with this Agreement are confidential. The Parties shall maintain the secrecy and confidentiality of all such materials. Without the written approval by the other Parties, any Party shall not disclose to any third party any relevant materials, but the following circumstances shall be excluded:

	
6.1  

	
The materials is known or will be known by the public (except for any materials disclosed to the public by the Party who receives such materials);

	
6.2  

	
The materials are required to be disclosed under the applicable laws or the rules or provisions of stock exchange; or

	
6.3  

	
The materials disclosed by each Party to its legal or financial consultant relate to the transaction contemplated under this Agreement, and such legal or financial consultant shall comply with the confidentiality set forth in this Section. The disclosure of the confidential materials by an employee of any Party shall be deemed disclosure of such materials by such Party, and such Party shall be liable for breaching the contract. This Article 6 shall survive this Agreement even if this Agreement is invalid, amended, revoked, terminated or unenforceable by any reason.

7.           BREACH OF CONTRACT

Any violation of any provision hereof, any incomplete or mistaken performance of any obligation provided hereunder, any misrepresentation made hereunder, any material nondisclosure or omission of any material fact, or any failure to perform any covenants provided hereunder by any Party shall constitute a breach of this Agreement. The breaching Party shall be liable for any such breach pursuant to the applicable laws.

8.           APPLICABLE LAW AND DISPUTE RESOLUTION

	
8.1  

	
Applicable Law

The execution, validity, interpretation and performance of this Agreement and the disputes resolution under this Agreement shall be governed by the laws of PRC.

 

	
8.2  

	
Dispute Resolution

The Parties shall strive to settle any dispute arising from the interpretation or performance of this Agreement through friendly consultation. In case no settlement can be reached through consultation within thirty (30) days after such dispute is raised, each party can submit such matter to China International Economic and Trade Arbitration Commission (the “CIETAC”) in Beijing in accordance with its rules. The arbitration shall take place in Beijing. The arbitration award shall be final, conclusive and binding upon both Parties.

 

  

6

  

9.           EFFECTIVENESS AND TERMINATION

	
9.1  

	
This Agreement shall be effective upon the execution hereof by all Parties hereto and shall remain effective thereafter.

	
9.2  

	
This Agreement may not be terminated without the unanimous consent of all the Parties except that Party A may, by giving thirty days prior notice to the other Parties hereto, terminate this Agreement.

10.           MISCELLANEOUS

	
10.1  

	
Amendment, Modification and Supplement

Any amendment and supplement to this Agreement shall be made by the Parties in writing. The amendment and supplement duly executed by each Party shall be deemed an integral part of this Agreement and shall have the same legal effect as this Agreement.

	
10.2  

	
Entire Agreement

The Parties acknowledge that this Agreement constitutes the entire agreement of the Parties with respect to the subject matters therein and supersedes and replaces all prior or contemporaneous agreements and understandings in oral or written form.

	
10.3  

	
Severability

If any provision of this Agreement is adjudicated to be invalid or non-enforceable according to relevant PRC laws of the PRC, such a provision shall be deemed invalid only to the extent the PRC laws are applicable in China, and the validity, legality and enforceability of the other provisions hereof shall not be affected or impaired in any way. The Parties shall, through consultation based on the principal of fairness, replace such invalid, illegal or non-enforceable provision with valid provision so that any substituted provision may bring the similar economic effects as those intended by the invalid, illegal or non-enforceable provision.

 

	
10.4  

	
Headings

The headings contained in this Agreement are for the convenience of reference only and shall not in any other way affect the interpretation, explanation or the meaning of the provisions of this Agreement.

 

  

7

  

	
10.5  

	
Language and Copies

This Agreement is written in Chinese and English and both the English version and Chinese version shall have the same effect. This Agreement is executed in four copies for each version; each Party holds one and each original copy has the same legal effect.

	
10.6  

	
Successor

This Agreement shall bind and benefit the successor or the transferee of each Party.

 

(The page is intentionally left blank)

 

 

 

 

 

 

 

 

 

 

 

  

8

  

 

IN WITNESS HEREOF, the Parties hereof have caused this Agreement to be executed by their duly authorized representatives as of the date first written above.

PARTY A:

NUOSEN (HANDAN) TRADING CO., LTD.

(seal)

Legal Representative/Authorized Representative (Signature): /s/ Liu Maicang                       

PARTY B:

FAKEI INVESTMENT (HONGKONG) LIMITED

(seal)

Legal Representative/Authorized Representative (Signature): /s/ Liu Weiru                         

HEBEI WU’AN YUANBAOSHAN INDUSTRY GROUP CO., LTD.

(seal)

Legal Representative/Authorized Representative (Signature): /s/ Liu Beifang                     

PARTY C:

HANDAN HONGRI METALLURGY CO., LTD

(seal)

 

Legal Representative/Authorized Representative (Signature): /s/ Liu Shenghong            

 

  

9

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