Document:

Unassociated Document

 

Equity Transfer Agreement

 

Party A (Transferor): Wuhan Aoxin Tianli Enterprise Investment Management Co., Ltd

Party B (Transferee 1): Jin Wu

       (Transferee 2): Li-Na Deng

       (Transferee 3): Wuhan Orange Optical Networking Technology Development Co., Ltd.

Party C (Transfer Target): Wuhan Optical Valley Orange Technology Co., Ltd.

WHEREAS, Party A legally owns 95% equity interest of Party C, and Party A voluntarily wants to transfer 95% equity interest of Party C to Party B; AND

 

WHEREAS, Party B agrees to accept the 95% equity interest of Party C (Transferee 1, Transferee 2 and Transferee 3 agree to accept 30% , 15% and 50% equity interest respectively); AND

 

WHEREAS, the Board of Shareholders of Party A also consents to transfer 95% equity interest of Party C to Party B;

 

NOW, THEREFORE, in consideration of the foregoing premises and the friendly negotiations among Party A, B and C, the following equity transfer agreement is entered in accordance with the principle of equality and mutual benefit.

Section I Equity Transfer

	
  

	
1.

	
Party A consents to transfer 95% equity interest of Party C to Party B, Party B agrees to accept the equity interest;

	
  

	
2.

	
The above-mentioned equity interest shall include all the attached interests and rights under that equity interest, and shall be free and clear of (including, but not limited to) all liens, pledges, encumbrances, charges, restrictions or known claims of any kind, nature or description.

	
  

	
3.

	
When the agreement takes effect, Party A shall not burden any obligations and responsibilities for the operational management and claims and Debts of Party C.

Section II Transferring Price and the Payment Methods

	
  

	
1. Upon the terms and subject to the conditions of this Agreement, Party A agrees to transfer the 95% equity of Party C to Party B at the price of RMB 47.5 million Yuan, Party B agrees the price for the equity interest.

	
  

	
2.  Party B agrees to pay the total purchase price to Party A within 7 days after the execution of this agreement. Party A agrees that Party B can start to process the business registration upon the payment of the purchase price.

 

  

  

  

Section III Representations of Party A

	
  

	
1.

	
Party A is the exclusive owner of the transferring equity set forth in Section I.

	
  

	
2.

	
From the effective date of the agreement, Party A shall fully quit from the operations of Party C, and shall not have the rights of the distribution of the assets, properties and profits.

	
  

	
3.

	
The 403,000 “earn-out” shares of Party A that were deposited into escrow under the name of Party B (Transferee 2) will be delivered to Party B (Transferee 2) at the end of March, 2017 as previously promised in the Stock Purchase Agreement.

Section IV Representations of Party B

1.    Party B acknowledges and complies with the Amended Articles of Association of Party C;

2.    Party B ensures to pay the purchase price in terms of the payment deadline and method stipulated in Section II.

Section V Expense from the Equity Transfer

All the parties agree all the transferring fees and related expenses shall be undertaken by Party C.

Section VI Liability for Breach of Contract

1. If any party violates or fails to implement any clauses of the agreement, the breaching party should indemnify all the economic losses of the non-breaching party;

 

2. If party B fails to pay the equity purchase price timely according to the regulations of Section II, party A shall have the right to charge the overdue fine at the rate of 5‰ per day commencing the date of the deadline stipulated in Section II. When Party B pays the overdue fine, but the loss caused to Party A is over the overdue fine, or other damages are caused due to the breaching of Party B, it shall not impact Party A to claim for the indemnification regarding to the excess portion between the overdue fine and the loss and other damages.

Section VII Confidentiality

Both Parties shall have the obligations to keep confidential regarding each party’s commercial information acquired during the performing of the agreement, the confidentiality is still valid and effective upon the termination of the agreement. Should any party violates the confidential clause and causes loss to the other party, it should undertake all the charges and losses of the other party.

 

Section VIII Effective Clauses and Miscellaneous

1. This agreement shall be effective upon the execution of Party A, Party B and Party C.

2. Any disputes caused by the implement of this agreement must be first settled by Party A and Party B pursuant to the principle of friendly negotiations. In case no such settlement can be reached, either party has the right to file a suit to the People’s court where Party C is located. 

3. This agreement is in quintuplicate, each of the parties holds one copy, and all of which shall be deemed to be an original and share the same legal effect.

 

Party A (Transferor): Wuhan Aoxin Tianli Enterprise Investment Management Co., Ltd /s/

Legal Person or authorized representative: Hanying Li /s/

Party B (Transferee 1): Jin Wu /s/

       (Transferee 2): Li-Na Deng /s/

       (Transferee 3): Wuhan Orange Optical Networking Technology Development Co., Ltd. /s/

Party C (Transfer Target): Wuhan Optical Valley Orange Technology Co., Ltd. /s/

Legal Person or authorized representative: Hai Liu /s/

Date: December 29, 2015Unassociated Document

 

Letter of Agreement

 

Party A:  Aoxin Tianli Group, Inc.

 

         Wuhan Aoxin Tianli Enterprise Investment Management Co., Ltd

 

Party B:  Li-Na Deng   Hai Liu

 

Party C:  Wuhan Optical Valley Orange Technology Co., Ltd.

 

WHEREAS, Party A holds 95% equity interest in Party C; Party B is the original shareholder and management of Party C and holds 403,000 common shares of Party A after Party A acquired Party C in August, 2014. The 403,000 shares were deposited into escrow (the “Earn-out Shares”) to be held for disbursement to Party B upon Party C achieving certain Target Net Income in each of the fiscal years ending December 31, 2014, 2015 and 2016.

 

WHEREAS, Party A intends to sell its 95% equity interest in Party C to Party B and other third parties;

 

THEREFORE, in consideration of the foregoing premises and the friendly negotiations between Party A and B, the following agreement is entered:

 

	
  

	
1.

	
If Party A sells the above-mentioned equity interest successfully, the previous Escrow Agreement executed between Party A and Party B will be cancelled automatically and the 403,000 shares of Party A will be delivered to Party B. However, the Earn-out shares can’t be released until the end of March 2017 as previously promised in the Stock Purchase Agreement;

 

	
  

	
2.

	
If Party A doesn’t sell the above-mentioned equity interest successfully, the previous Escrow Agreement will continue to be effective.

 

Party A:  Aoxin Tianli Group, Inc.

 

        Wuhan Aoxin Tianli Enterprise Investment Management Co., Ltd (seal)

 

Legal person or authorized representative: Hanying Li (signature)

 

Party B:  Li-Na Deng   Hai Liu   (signature)

 

 

December 25, 2015Unassociated Document

 

Agreement for Terminating the Equity Transfer Agreement

 

Party A: Wuhan Aoxin Tianli Enterprise Investment Management Co., Ltd

 

Party B: Guangxi Hongzhen Investment Co., Ltd

 

Upon friendly negotiations between Party A and B, the following agreement regarding the equity transfer of Hubei Hang-ao Servo-valve Manufacturing Technology Co., Ltd (“Hang-ao”) is entered in accordance with the principle of equality and mutual benefit.

 

I. According to the Equity Transfer Agreement executed between Party A and Party B on November 13, 2015, Party A would transfer its 88% equity interest of Hang-ao (“targeted equity interest”) to Party B at the price of RMB 48.4 million Yuan (“Consideration”). After the execution of the Equity Transfer Agreement, Party B has paid RMB 4 million Yuan to the bank account designated by Party A as the earnest money deposit. Considering Party B prepared to get Hang-ao listed on the NEEQ (the National Equities Exchange and Quotations), in the process of the due diligence, Party B found Hang-ao couldn’t get its house property and land ownership certificates before the deadline (December 15, 2015) described in the previous Equity Transfer Agreement, however, the NEEQ requires the ownership certificates of all the house and land assets, which caused the failure of the above-mentioned deal. After the discussion between Party A and Party B, both Parties agree to terminate the previous Equity Transfer Agreement and the transfer of the targeted equity interest of Hang-ao.

 

II. In terms of the negotiation, Party A agrees to return the RMB 4 million Yuan within 7 work days after the termination of the Equity Transfer Agreement.

 

III. As per promise between Party A and Party B, if Party A is still willing to sell its targeted equity interest and Party B is still willing to buy the targeted equity interest after Party A gets the land and house property certificates in the future, Party B has the right of first refusal.

 

IV. Both Parties shall have the obligations to keep confidential regarding each party’s commercial information acquired during the performing of the agreement, the confidentiality is still valid and effective upon the termination of the agreement. Should any party violates the confidential clause and causes loss to the other party, it should undertake all the charges and losses of the other party.

 

  

  

  

 

V.  Effective Clauses and Miscellaneous

 

1. This agreement shall be effective upon the execution of Party A and Party B.

 

2. Any disputes caused by the implement of this agreement must be first settled by Party A and Party B pursuant to the principle of friendly negotiations. In case no such settlement can be reached, either party has the right to file a suit to the People’s court where Party A is located. 

 

3. This agreement is in duplicate, each of the parties holds one copy, and all of which shall be deemed to be an original and share the same legal effect.

 

[Remainder of Page Intentionally Left Blank]

 

【Signature Page】

 

 

Party A: Wuhan Aoxin Tianli Enterprise Investment Management Co., Ltd

 

Legal Person or authorized representative: Hanying Li (signature)

 

Date: December 25, 2015

 

  

Party B: Guangxi Hongzhen Investment Co., Ltd

 

Legal Person or authorized representative: Hanzhi Shao (signature)

 

Date: December 25, 2015

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00252-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00252-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00252-of-00352.parquet"}]]