Document:

Hyundai Trademark License Agreement

 

HYUNDAI CORPORATION

 

226, 1GA, SINMUNNO, JONGNO-GU, SEOUL, 110-793, KOREA

TEL: 82-2-3901464 FAX:82-2-390-1051 http://www.hyundaicorp.com

 

TRADEMARK LICENSE AGREEMENT

 

	
CONTRACT NO: NB2-LA 110502-JS0 I

	
DATE: 02 MAY 20l1

THIS TRADEMARK LICENSEE AGREEMENT (“Agteement”) is made by and between

 

	
1.

	
Hyundai Corporation, a company duly incorporated and existing under the laws of Korea and having its principal place of business at 226, lGA, Sinmunno, Jongno-Gu, Seoul, Korea (“Licensor”); and

 

	
2.

	
SGreenTech Holdings Limited, a Company duly incorporated and existing under the laws of Hong Kong and having its principal place of business at Room 01,13,F, Hung Tai industrial Building 37 Hung To Road, Kwun Tong, Kowloon, Hong Kong (“Licensee”).

 

The Parties hereby agree that the Licensor appoints the Licensee as its licensee and grants the Licensee the trademark license as follows:

	
Licensed Trademarks

	
[As set forth in the Annex 1 hereof.]

	  	  
	
Licensed Products

	
[As underlined among the Products listed in the Annex 2 hereof.]

	  	  
	
Territory

	
[People’s Republic of China]

	  	  
	
Term

	
1st Term: May 2, 201l to May 01, 2012

	  	
2nd Term: May 2, 2012 to May 01, 2013

	  	
3rd Term: May 2, 2013 to May 01, 2014

	
One time Royalty Without Minimum

	
1st year: USD450,000 (USD Four hundred & fifty thousand)

	
Sales Quantities

	
2nd year: USD450,000 (USD Four hundred & fifty thousand)

	  	
3nd year: USD450,000 (USD Four hundred & fifty thousand)

The terms and conditions on the next pages shall form part of this Agreement. If the terms and conditions on next pages contradict the terms and conditions contained on this cover page and the attached pages of the Annexes of this Agreement, then the latter shall prevail.

	
HYUNDAI CORPORATION

	 	
SGreenTech Holdings Limited

	  	 	  
	  	 	

	
 

	
NAME: Seungho Chang

	 	
NAME: IN Nany Sing Charlie

	
TITLE: General Manager

	 	
TITLE: Executive DirectorTV (Flat-Panel Series) Original Equipment Manufacturer Contract

 

Party A:     SGREENTECH HOLDINGS LTD

Party B:     HEYUAN QINGYA ELECTRONIC TECHNOLOGY CO LTD

 

Both parties agrees to the following regarding the contract production of TV (flat-panel series): 

 

	
A 

	
Description, specifications, model, quantity, price, responsibility

	
1.

	
Please refer to the OEM price table for the specific descriptions and specifications for each of the model. It includes the outer and inner packing boxes, marks, manuals, warranty cards, certifications of fitness, nameplates, labels and inner and outer packing materials.

	
2.

	
Party A to give Party B "production notice" and to be confirmed by Party B, signed and stamped, by return email to Party A.

	
3.

	
The unit price of contract manufacturing is HKD $200 per each TV

	
4.

	
Party B is only responsible for assembling the materials to finished products as specified by Party A including the after sales service repair and replacement of parts.

	
5.

	
Party A is responsible for supplying all materials necessary for product assembly and repair.

	
6.

	
An addendum agreement on the contract manufacturing price will be signed between the parties for models that are not specified in the current OEM Table.

	
B.

	
Technology and quality of product

	
1.

	
Party B must comply with the national and trade standard of technology and quality

	
2.

	
Party B is to provide one sample of each model and displayed in the showroom to allow Party A to determine its conformance to the specified quality.

	
C.

	
Product brand of party A and product management

	
1.

	
Party B cannot manufacture the products of Party A without her authorization.

	
2.

	
Party B must safe keep Party A's materials including but not limited to its trademarks, designs, nameplates, manuals, packaging and so on and it must not be in the possession of unauthorized third parties. Should there be a breach, Party B is responsible for all the liabilities and losses.

 

	
D. 

	
Requirement on product styles and types

	
1.

	
The finished products supplied by Party B to Party A must meet the specifications, model, style and type that are confirmed by Party A. Once a particular technical design and drawing is confirmed by Party A, that particular model is considered Party A's model and design.

	
2.

	
Party B is responsible for the necessary clearance on the right of use of any product designs, drawings, styles or models that is being supplied to Party A.

	
3.

	
Party A has the exclusive first right of refusal to use all of Party B's designs, models, styles, drawings and concepts.

 

	
E.

	
Lead time and payment terms

	
1.

	
Party B to deliver the products within 20 days upon confirming Party A's "production notice".

	
2.

	
Payment upon delivery or pay the balance amount by acceptance bill.

	
3. 

	
Party A to prepay 20% of the total amount upon receiving Party B's confirmation of the "production notice"

 

	
F.

	
Quality dispute

	
1.

	
Party B must repair or replace any defective goods unconditionally.

	
2.

	
Should the defect rate exceeds 5% of a production batch, Party B is responsible for the repair, replacement and including round-trip transportation costs if any.

	
3.

	
Party B must bear full responsibility should an accident occurs in the normal course of usage and the accident is due to the quality of workmanship as determined by expert authorities.

 

	 	 
	
[Type text]

	
Page 1

 

  

  

  

 

TV (Flat-Panel Series) Original Equipment Manufacturer Contract

 

	
G. 

	
After Sales Service

	
1.

	
The finished product is guaranteed for one year, and the main part (panel) is guaranteed for three years, starting from the purchase date. Party B adopt the "3-guarantee" obligations stipulated in the China quality law.

	
2.

	
During the guarantee period and should the panel problem occurs, party B should exchange a new panel unconditionally.

	
3.

	
Party B is responsible for the after sales service for all the finished products.

 

	
H. 

	
Special Clauses

	
1.

	
All the OEM products of Party A must be manufactured by Party B exclusively, it is not allowed to be manufactured by or

	
  

	
sub-contracted to other parties.

	
2.

	
Party A places a deposit of HKD $60,000 to Party B and it will be refunded upon this contract's expiry.

	
3.

	
Party B must have the capacity and capability to fulfill all of Party A's production orders.

	
4.

	
Party B cannot sell any of Party A's OEM products to any party without Party A's written consent and should Party B breach this clause, Party B will pay 10 (ten) times of the transaction value as penalty to Party A and the termination of this agreement.

	
5.

	
Party B should support and cooperate with the customers of Party A when they visit Party B's factories.

 

	
I. 

	
Contract Duration

The duration is for 5 years starting from May 2, 2011 to May 1, 2016 and to be extended for another 5 years. 

 

	
J.

	
Support

	
1.

	
Party B is to assist Party A to apply for 3C certifications and provide the copies of   business license, various certifications and licenses. The relevant fees are for the account of Party A.

	
2.

	
Party B is to provide the office space and showroom, free of charge, to Party A to be used by their production, quality and customer service staffs assigned to Party B's factories.

	
3.

	
Party A is responsible for all transportation and shipment costs.

	
4.

	
Party B allows Party A to name them as the "authorized manufacturing hub in China".

 

	
K.

	
Dispute Settlement

	
1.

	
Any issues not covered in this contract, can be supplemented by mutual agreements.

	
2.

	
If a conflict cannot be resolved and an agreement cannot be reached, the matter will be arbitrated by the Hong Kong Arbitration organization.

 

	
Party A

	
Party B:

	  	  
	
SGREENTECH Holdings Limited

	
HeYuan QingYa Electronic Technology Co Ltd

	  	  
	
Signed By:

	
Signed By:

 

		 
	 	 
	
Charlie In

	  
	  	  
	
Executive Director

	  
	  	  
	
2 May 2011

	
2 May 2011

 

	 	 
	
[Typetext]

	
Page 2SGREENTECH HOLDINGS LIMITED

 

28 April 2011

 

Mr Charlie In Nany Sing

32 Upper Serangoon View #03-44

Singapore 534209

 

Dear Sir

 

APPOINTMENT AS EXECUTIVE DIRECTOR

 

We are pleased to offer you the position on the above appointment with effect from 2 May 2011.

 

This appointment is subject to the following terms and conditions:

 

	 	
1.

	
FEES

 

Your director's fee is HKD $125,000 per month.

 

	 	
2.

	
ALLOWANCES

 

You will be reimbursed for all traveling and other expenses related to your job.

 

	 	
3.

	
DUTIES AND RESPONSIBILITIES

 

You are required to perform the duties and responsibilities related to your position at any division, department, section and location where the Company operates its business.

 

	 	
4.

	
WORKING HOURS

 

The Company current working hours are from Monday to Friday, 9am to 6pm,  with a one hour lunch break. The Company reserves the right to change your working days and hours as may be required by your position.

 

	 	
5.

	
ANNUAL LEAVE/HOLIDAYS

 

You are entitled to 21 days annual leave in addition to the location's gazetted holidays.

 

	 	
6.

	
TRANSFER/SECONDMENT

 

You are subject to transfer or secondment to any location where the Company operates or when required in the course of performing your duties.

 

	 	
7.

	
MEDICAL

 

You are entitled to claim for your medical expenses not exceeding HKD $125,000 per year.

 

	 	
8.

	
PROVIDENT FUND

 

The company and you will contribute to any mandatory provident fund and/or insurance schemes in accordance to the location's legislation.

 

Room 1, 13/F, Hung Tai Industrial Building 37 Hung To Road, Kwun Tong, Kowloon, Hong Kong Tel 27555022 Fax 2796 8049

  

  

  

SGREENTECH HOLDINGS LIMITED

 

	 	
9.

	
RULES, REGULATIONS & CONFIDENTIALITY

 

You shall at all times, devote your full attention and skill to the affairs of the Company and will endeavor to your utmost ability to promote and advance the interests of the Company.

 

Accordingly, you undertake that:

 

	
  

	
1.

	
you will under no circumstances make available your services to any undertaking, or have any interest directly or indirectly in any other undertaking or activity which might interfere with the proper performance of your duties without first obtaining the written permission of the Company;

 

	
  

	
2.

	
you will not at any time during the continuance or after the termination of your services with the Company irrespective of any reason for such termination, make use or disclose to any party either for your own benefit or for the benefit of any party (individual, firm, company, any trade or business), the affairs and confidential information of the Company or any of its related companies of which you have knowledge or become aware during the course of your service with the Company;

 

	
  

	
3.

	
you will obey and comply with all reasonable orders and instructions given to you by the Company or its authorized agents and observe all standing and other rules and/or regulations now in force or from time to time approved by the Company.

 

	 	
10.

	
TERMINATION

 

The notice of termination of employment will be three (3) month’s notice in writing or three (3) month’s salary in lieu of notice from either party.

 

Notwithstanding the aforementioned, the Company shall be entitled to terminate your employment without notice, indemnities and compensation in any of the following events:

 

i) if you are, in the opinion of the Company, guilty of dishonesty, misconduct or negligence in the performance of your duties;

 

ii) if you have been found to have committed a serious breach or continual material breach of any of your duties or obligations;

 

iii) if you are found to have made illegal monetary profit or received any gratuities or other rewards, in cash or in kind, out of any of the Company’s affairs or any of its subsidiaries or related companies.

 

	
Yours sincerely,

	
I confirm my acceptance of this appointment

	  	  
	
Spencer Chan

	
Charlie In Nany Sing

	
Chairman/Independent Director

	
Date:

 

Room 1, 13/F, Hung Tai Industrial Building 37 Hung To Road, Kwun Tong, Kowloon, Hong Kong Tel 27555022 Fax 2796 8049

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