Document:

ex106.htm

Exhibit 10.6

Fufeng Jinqiu Printing & Packaging Co., Ltd.

The Shareholders Of Fufeng Jinqiu

Printing & Packaging Co., Ltd.

AND

Asia Packaging & Printing, Inc.

 

AGREEMENT ON ENTRUSTMENT FOR

OPERATION AND MANAGEMENT

(Unofficial Translation)

April 22 , 2010

CHINA

Agreement on Entrustment for Operation and Management

 

  

1

  

Party A:  (the commissioning Party)

Fufeng Jinqiu Printing & Packaging Co., Ltd.

Registered Address: Baoji City Fufeng County, Shangsong Village

Legal Representative: Yongming Feng

 

	
  

	
Party A:

 

	
Yongming Feng

	
610324195503034012

	
Jinhao Zhang

	
610403198908013014

	
Jingfeng Chen

	
610403198706010552

	
Xining Chen

	
610431196501260626

	
Zhichao Zhai

	
610324194212232014

	
Deping Li

	
610324195306284039

	
Maicheng Liu

	
610324196508010532

	
Ronghui Xu

	
610403198007060016

	
Penghui Feng

	
610324198602064077

	
Yongning Zhang

	
610303197607134218

 

Party B: (the commissioned Party)

Asia Packaging & Printing, Inc.

 

	
Registered Address: Maryland , USA

	
Legal Representative: Michael Segal

 

 

  

2

  

 

	
WHEREAS:

 

1. As of the date of this Agreement, Party A and Party B are shareholders of Baoji Jinqiu Printing & Packaging Co., Ltd. (the “Baoji Jinqiu”) and collectively legally hold all of the equity interest of Baoji Jinqiu (Party A with 100% assets and operation own 68% Baoji Jinqiu; Party B cash own 32% of Baoji Jinqiu).

 

2. Party B is rich experienced in the management and marketing of Printing & Packaging enterprise.

 

3. Party A agrees to entrust 68% ownership of Baoji Jinqiu to Party B including all management and administration right. Party B is willing to accept this entrustment.

 

Both parties reach on the following terms unanimously and sign on April 22 , 2010 through friendly negotiation.

 

Article 1. Entrustment Matter

 

Party A agrees to exclusively entrust the operation and management of Baoji Jinqiu to Party B. Party B accept such entrustmen and perform its management right pursuant to the laws and this agreement untill the expiration of the term set forth in Article 5 and shall be fully responsible for the management of Baoji Jinqiu.

 

Article 2. Scope of the Entrusted Matter

 

The entrustment matter shall include:

 

2.1 The operation of Baoji Jinqiu which include the daily operation and management and outward affairs of it;

 

2.2 Recruitment and professional training of the management staff of Baoji Jinqiu ;

 

2.3 Collecting Printing & Packaging information and organizing source of raw materials;

 

2.4 Choosing distributors for the sales of the products manufactured by Party A;

 

2.5 The management of all of the cash flows of Baoji Jinqiu through a bank account opened by Baoji Jinqiu which is controlled by Party B;

 

2.6  The decisions regarding the use of funds in the bank account in which Baoji Jinqiu shall deposit;

 

2.7  The control of all assets of Baoji Jinqiu and the right to dispose of assets;

 

2.8  Hire management and administrative personnel and control decisions relating to entering and performing customer contracts and other instruments;

 

2.9  The right to appoint the composition of the independent board of directors of Baoji Jinqiu;

 

2.10  Other matters in the daily operation and management of Baoji Jinqiu.

 

  

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Article 3. Obligations of Party A

 

3.1 Respecting the management of Party B and not interfering with the management of Party B within the scope of this Agreement;

 

3.2 Assist oppointing directors, chairman of directors, vice chairman of directors and supervisor as nominated by Party B;

 

3.3 Appointing general manager ,vice general manager, financial chief and other senior management as nominated or designated by Party B;

 

3.4 The opening of a bank account which Party B shall have the full right to use in its discretion. All funds of Baoji Jinqiu including all revenue and all payments of funds shall be disbursed through this account;

 

3.5 Paying management fee as agreed;

 

3.6 Without the written permit of Party B, not carrying out any transactions that may severely influence its assets, liabilities, shares and/or operation;

 

3.7 Not entrusting any third party with the rights authorized to Party B within the term of this Agreement;

 

3.8 Hand over to Party B for entrustment all business materials, business liceness and corporate seal.

 

Article 4. Obligations of Party B

 

4.1 Notifying Party A in writing on the operation and management monthly, in order for Party A to know the operation of the company on time.

 

4.2 Nominating appropriate persons to serve as all directors, chairman, vice chairman, and supervisor.

 

4.3 Nominating the person deemed appropriate to serve as the general manager.

 

4.4 The general manager nominated by Party B shall to meet the demand of operation and management of Baoji Jinqiu, designate competent persons to be served as Vice general manager, financial chief and other senior officers.

 

Article 5. Term

 

The term of the commission shall be from the effective date of this Agreement until either the business of Baoji Jinqiu terminates or Party B exercises its option to acquire all of the assets or equity of Baoji Jinqiu.

 

Article 6  Calculation and Payment of Management Fees

 

Within the valid term of this agreement, Party B takes all Party A’s assets ownership and income ownership related with this equity under this agreement.

 

Article 7  Tax

 

Both parties shall bear taxes arising from the exchange hereunder imposed by the Chinese government respectively.

 

  

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Article 8  Breach liabilities

 

8.1 Any Party`s breaching any terms, warrants and commitments of this Agreement shall constitute breach, and such party shall compensate the other for losses arising herefrom.

 

8.2 Without the written consent of the other party, neither party shall terminate or postpone the performance of each obligation hereunder on its own.

 

8.3 Under the circumstance that violate the terms, unless otherwise provided by Chinese compulsory laws, Party B shall not Bear any liabilities arising from the operation of Party A.

 

Article 9  Confidentiality

 

9.1 “Confidential information”: technical materials, commercial information and other information marked as “interior material” disclosed by one party to the other during the performance of this contract.

 

9.2 Both parties warrant that they shall not use or disclose the confidential information of the other party for any other purposes other than this contract or to a third party. Both parties may use the confidential information of the other only for performing this contract.

 

9.3 Both parties agree that the disclosing party is the owner of the confidential information. Upon the termination or expiration of this contract, the receiving party shall promptly return all confidential information provided by the disclosing party or destroy all confidential information as requested by the disclosing party.

 

9.4 Where the confidential information of one party is revealed due to the fault of the other party (including its employees), the faulty party shall compensate the other for all losses arising herefrom.

 

9.5 Both parties agree that the term for the confidentiality obligation of both parties shall be the effective term of this contract three years following the expiration of the contract.

 

9.6 This article constitutes independent confidentiality agreement. The obligations agreed in this Article shall survive the termination of this contract.

 

Article 10. Force Majeure

 

10.1 Where any party is unable to perform its obligation hereunder on the agreed conditions due to the event of force majeure. Such party shall promptly notify the other of relevant circumstance, and provide effective certificate of force majeure within 15 days.

 

10.2 The force majeure stated in this Agreement refers to any unpredictable, unavoidable and undefeatable objective circumstance, including but not limited to natural disaster, explosion, fire flood, war, rebellion, riot, epidemic and administrative measures and orders . It is not force majeure where the company is punished, closed or suspending operation due to violation by Party B.

 

10.3 The influencing party shall be exempted from relevant responsibilities within the influence of the force majeure.

 

10.4  Where the force majeure lasts for over 60 days, both parties shall settle the performance of this Agreement thereafter through friendly negotiation. Where negotiation fails within 10 days extended, both parties shall have the right to dissolve this Agreement.

 

Article 11. Governing law

 

The effectiveness, interpretation and performance of this Agreement shall be governed by the laws of the People’s Republic of china.

 

Article 12. Dispute Resolution

 

Any dispute arising from the performance fo this Agreement shall be resolved through negotiation by both parties. Where negotiation fails, any party is entitled to launch a lawsuit to the people`s court of jurisdiction.

 

Article 13. Execution and Effectiveness

 

13.1 This Agreement is made in duplicate, with each party holding one , equally binding upon both parties.

 

13.2 This Agreement is executed by the representative of both parties on the date first above written and comes into effect on such date.

 

  

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In witness whereof, each Party has caused its representative to sign this Agreement on the date first above written.

 

Party A:  Fufeng Jinqiu Printing & Packaging Co., Ltd.

 

Legal Representative /Authorized Representative (Signature)

 

/s/ Yongming Feng (Stamped)

 

Party B: Asia Packaging & Printing, Inc.

 

Legal Representative /Authorized Representative (Signature)

 

 

 (Stamped)

 

Shareholders of Party A hereby accept this Agreement and specifically agree to be subject to Article 3.2 of this Agreement.

(Signature)

 

	
Yongming Feng

	
/s/ Yongming Feng

	 
	  	  	 
	
Jinhao Zhang

	
/s/ Jinhao Zhang

	 
	  	  	 
	
Jingfeng Chen

	
/s/ Jingfeng Chen

	 
	  	  	 
	
Xining Chen

	
/s/ Xining Chen

	 
	  	  	 
	
Zhichao Zhai

	
/s/ Zhichao Zhai

	 
	  	  	 
	
Deping Li

	
/s/ Deping Li  

	 
	  	  	 
	
Maicheng Liu

	
/s/ Maicheng Liu

	 
	  	  	 
	
Ronghui Xu

	
/s/ Ronghui Xu

	 
	  	  	 
	
Penghui Feng

	
/s/ Penghui Feng

	 
	  	  	 
	
Yongning Zhang

	
/s/ Yongning Zhangex107.htm

Exhibit 10.7

 

 

EXCLUSIVE  OPTION  AGREEMENT

 

AMONG

 

Asia Packaging & Printing, Inc.

 

AND

 

Fufeng Jinqiu Printing & Packaging Co., Ltd.

 

AND

 

Baoji Jinqiu Printing & Packaging Co.,Ltd.

 

 

(Unofficial Translation)

 

 

 

April 22 , 2010

CHINA

EXCLUSIVE  OPTION  AGREEMENT

 

This Exclusive Option Agreement (the“Agreement”) is entered into as of

 

  

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April 22 , 2010 between the fillowing parties.

 

Party A: Asia Packaging & Printing, Inc.

 

 Registered Address: Maryland , USA

 

Legal Representative: Michael Segal

 

Party B: Fufeng Jinqiu Printing & Packaging Co., Ltd.

 

Registered Address: Baoji City Fufeng County, Shangsong Village

 

Legal Representative: Yongming Feng

 

Party C: Baoji Jinqiu Printing & Packaging Co.,Ltd. 

 

Registered Address: Baoji City Fufeng County, Shangsong Dong Street, Chang Qu,Xi Yi Lou

 

Legal Representative: Yongming Feng

 

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

 

  

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WHEREAS:

 

1. Party B and Party C are both companies with limited liabilities incorporated under the Company Law of the People`s Republic of China (the” PRC”)

 

2. As of the date of this Agreement, Party A and Party B are shareholders of Party C Baoji Jinqiu Printing & Packaging Co., Ltd. (the “Baoji Jinqiu”) and collectively legally hold all of the equity interest of Baoji Jinqiu (Party A own 32% Baoji Jinqiu; Party B own 68% of Baoji Jinqiu).

 

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. Party A has right to purchase all or part of the shares of Party C currently owned by Party B, or to purchase all or part of the assets of Party C in each case in accordance with Article 1.3 of this contract. This purchase option is irrevocable and shall be exercised only by Party A (or the qualified persons appointed by Party A). The term “person” use herein shall include any entity, corporation, partnership, join venture and noncorporate organizationgs.

 

1.2 Exercise Procedures:

 

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

 

The next day upon receipt of the Option Notice, Party B and C, 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 transfer in connection with the Option exercise so that the shares or assets transfer can be transferred, in whole or in part.

 

Upon the copmletion of the compilation of all the Transfer Documents and the Transfer Documents being confirmed by Party A, Party B and Party C 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 of Party C in connection with the Option exercise.

 

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

 

2. PRICE OF ACQUISITION 

 

Party A and Party B shall enter into relevant shares purchase agreements on the price of acquisition not exceeding US$100 on exercise of the option.

 

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 anthorizations to enter into this Agreement and perform its duties and obligations hereunder; and (2)the exercise and performance of this Agreement shall not violate any significant contract or agreement to which it is a party or by which it or its assets are bounded.

 

3.2   Party B hereto represents to Party A that: (1) It is legally registered shareholder of Party C and has paid Party C the full amount of  Party C`s registered capital required under the PRC laws, (2) except Share Pledge Agreement, Party B has not mortgaged or pledge his shares of Party C, nor has granted any security interest or borrow against his shares of  Party C in any form; and (3) Party B has not sold or will not sell to any third party its equity interests in Party C.

 

3.3   Party C hereto represents to Party A that: (1) it is a limited liability company duly registered and validly existing under the PRC laws; 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 follow:

 

4.1 Before Party A has acquired all the equity/assets of Party C by exercising the purchase option provided hereunder, Party C 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,   mortgate, 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, shareholder`s equity 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 equity/assets of Party C by exercising the purchase option provided hereunder. Party B and/or Party C shall not individually or collectively:

 

4.2.1  supplement, alter or amend the articles of association of Party C in any manner to the extent that such supplement, alteration or amendment may have a material effect on Party C’s assets, liability, operation, shareholder`s equity or other legal rights;

 

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

 

4.3  Party B shall entrust Party A to manage Party C in accordance with Entrusted Management Agreement.

 

5.  ASSIGNMENT OF AGREEMENT

 

5.1 Party B and Party C 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 Party C hereby agrees that Party A shall have the right to transfer all of its rights and obligations 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 Party C by Party A, and no any further consent from Party B and Party C will be required.

 

  

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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 relevent materials, but the following circumstances shall be excluded:

 

a.  The materials is know by the public (except for any materials disclosed to the public by the Party who receives such materials) or the materials is already know by the disclosing Party or acquired by the disclosing Party from a third party lawfully in possession thereof with no obligation of confidentiality.

 

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

 

c.  The materials disclosed by each Party to its legal or financial consultant relate to the transaction contemplated under this Agreemen, and such legal or financial consultant shall comply with the confidentiality set forth in this Section. The disclosure of 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.

 

8.1 APPLICABLE LAW AND DISPUTE RESOLUTION

 

8.1 Applicable Law The execution, validaty, interpretation and performance of this Agreement and the 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 wihtin thirty(30) days after such dispute is raised, each party shall have the rights to 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 arbitation award shall be final, conclusive and binding upon both parties.

 

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, be giving a thirty(30) days prior notice to the other Parties hereto, terminate this Agreement.

 

  

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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 enter 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 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 consulation 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 the convenience of reference only and shall not in any other way affect the interpretation, explanation or the meraning of the provisions of this Agreement.

 

10.5 Successor

 

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

 

  

6

  

 

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

 

Party A: Asia Packaging & Printing, Inc.

 

Legal Representative /Authorized Representative (Signature)

 

 

(Stamped)

 

Party B: Fufeng Jinqiu Printing & Packaging Co., Ltd.

 

Legal Representative /Authorized Representative (Signature)

 

/s/ Yongming Feng (Stamped)

 

Party C:  Baoji Jinqiu Printing & Packaging Co.,Ltd. 

 

Legal Representative /Authorized Representative (Signature)

  

/s/ Yongming Feng (Stamped)

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