Document:

Exhibit 10.1

         

        Termination Agreement

        

        

        This termination agreement was made on the basis of the
        Asset Purchase Agreement (the “Agreement”) dated on September 20,
        2008 and the Amendment entered into between Harbin Xinda Macromolecule Material Co., Ltd (hereinafter referred as
        “Xinda”) and Harbin Xinda High-tech Company (hereinafter referred as
        “Xinda High-tech”). Xinda and Xinda High-tech are collectively referred to herein as
        “Parties”.

        

        

        Preface

        

        Whereas, under the Agreement, Xinda agreed to purchase plant,
        land, equipments and affiliate projects and facilities (the “Assets”) listed in
        Exhibit A from Xinda High-tech.

        

        Whereas, the total purchase price of Assets under the
        Agreement is 240 million RMB.

        Whereas, under the Amendment, the payment
        date and amount that Xinda shall pay Xinda High-tech shall be: 240 million RMB before December 31st, 2009.

        

        Whereas, Xinda has paid the amount of 7 out of 19 sets of fully
        automatic twin screw mixing extruders, which
        were listed as the item 38 on Assets List—Equipments List in Appendix A of the Agreement;

        

        Whereas, Xinda High-tech must pay back the bank loan within the specified period and anticipate Xinda could not perform the agreement as a result of
        Xinda’s failure to pay back the total payment during the period specified in the agreement and the Amendment. In order to avoid Parties’
        unnecessary lost, the Parties reached the following agreements through mutual negotiation.

        

        

        
            

        

        Agreements

        

        

        The Parties agree as follows:

        

        The Assets purchase agreement dated on September 20, 2008 and the Amendment will be abolished when
        this termination agreement takes effect;

        

        

        The acquisition of 7 sets of
        fully automatic twin screw mixing extruders
        that Xinda has paid the payment is effective;

         

        After this complementary agreement is signed, Xinda High-tech may sell all assets excluding the 7 sets of full auto twin screw mixing extruder to the third party, which is unrelated to Xinda;

        

        Xinda shall begin to transfer the assets, which
        were listed in original agreement but have not been acquired, to Xinda High-tech from the date that this termination
        Agreement was signed, among which all the equipments
        and related projects and facilities currently in the plant which were listed in the
        Appendix A of original agreement shall be checked, accepted and transferred in this plant; the transfer sign of the plant listed in
        Appendix A shall be the delivery of the key.

        

        The custodial responsibility and loss risks of any transferred assets shall be transferred to Xinda High-tech
        from the date of transfer; meanwhile, the right of managing, using, disposal and proceed of any transferred assets
        shall be transferred to Xinda High-tech from the date of transfer.

        

        

        The Parties agree that Xinda can use the plant, office buildings and affiliate facilities of Xinda High-tech in the form of leasing and shall sign the property leasing contract
        at the same time when this termination agreement is signed.

        

        

        
            

        

         

        In witness whereof, the Parties have executed this complementary agreement upon the date set forth below.

        

        

        Party A:   Harbin Xinda High-Tech Co., Ltd.

        

        By:  _______________

         

        Date:   _______________

         

         

        Party B:   Harbin Xinda Macromolecule Material Co., Ltd

        __________________

         

        By:_______________

         

        Date: _______________Exhibit 10.1 

20090501 

Lease Contract 

Between 

Harbin Xinda
Macromolecule Material Co., Ltd. 

And 

Harbin Xinda High-tech
Co., Ltd. 

May 1st,
2009 

Contents 

			
			
	Article 1	 	 	Property Location, Area and Facilities	 	 	 	1	 
	Article 2	 	 	Usages	 	 	 	1	 
	Article 3	 	 	Lease Term	 	 	 	2	 
	Article 4	 	 	Property Rent and Payment	 	 	 	2	 
	Article 5	 	 	Other Expenses	 	 	 	2	 
	Article 6	 	 	Repairs Responsibility	 	 	 	3	 
	Article7	 	 	Representations, Warranties and Undertakings of Party A	 	 	 	4	 
	Article 8	 	 	Representations, Warranties of Party B	 	 	 	5	 
	Article 9	 	 	Serious Breach of Party B	 	 	 	5	 
	Article 10	 	 	Serious Breach of Party A	 	 	 	6	 
	Article 11	 	 	Indemnities	 	 	 	6	 
	Article 12	 	 	Notice	 	 	 	6	 
	Article 13	 	 	Termination	 	 	 	7	 
	Article 14	 	 	Governing Law and Dispute Resolution	 	 	 	8	 
	Article 15	 	 	Force Majeure	 	 	 	9	 
	Article 16	 	 	Miscellaneous	 	 	 	10	 
	Appendix A 	 	 	Property Descriptions	 	 	 	13	 
	Appendix B 	 	 	The Copies of Property Ownership Certificate	 	 	 	14	 
			

        The
Lease Contract (this “Contract”) is entered into as of May1st, 2009
by the following parties: 

     (1)    
          Harbin Xinda Macromolecule Material Co., Ltd.(hereinafter called “Xinda
          Macromolecule” or “Party B¡°), a business entity
          incorporated under the laws of the People’s Republic of
          China(“China”), was registered in No.9, QinLing Road, Yingbin Road
          Centralized Industrial Park, Harbin Development Zone, Heilongjiang Province,
          China; and 

     (2)    
          Harbin Xinda High-tech Co., Ltd.(hereinafter called “Xinda High-tech”
          or “Party A), a business entity incorporated under the laws of the
          People’s Republic of China(“China”), was registered in No.9,
          Dalian North Road, Haping Road Centralized Industrial Park , Harbin Development
          Zone, Heilongjiang Province, China 

        Xinda
High-tech and Xinda Macromolecule here are called “party” respectively and,
collectively the “parties” in the Contract. 

Article 1 Property
Location, Area and Facilities 

1.1     The
parties agree to: Party A will lease to Party B the premises (hereinafter called “The
Premises”), which is located at No.9, Dalian North Road, Haping Road Centralized
Industrial Park, Harbin Development Zone, Heilongjiang Province, China, with an area of
23893.53 square meters.  

1.2     The
current status of property and the attached welfare facilities, equipment and facilities
(hereinafter called “attached facilities”), as shown in the annex to the
contract A. Annex A should be referred to as Party A Party B to the property and the
return of Party A Party B to the property on the basis of the acceptance.  

Article 2 Usages 

2.1     Party A
has shown the related property certificates to Party B for proving that Party A has legal
rights to release the premises prior to signing this contract. The serial numbers of the
property ownership certificates are as following: Harbin Property Right Certificate
Kaiguozi NO.00107917 Harbin Property Right Certificate Kaiguozi NO.200702187 ;Harbin
Property Right Certificate Kaiguozi NO.00107916 Harbin Property Right
Certificate Kaiguozi NO.00107915 Harbin Property Right Certificate Kaiguozi
NO.00107914 and Harbin Property Right Certificate Kaiguozi NO.00107913, where shows that
the usages are: industrial plants office buildings and other accessory occupancy. See
Appendix B The Copies of Property Ownership Certificate on this contract for further
information.  

1 

2.2     Party B
undertakes that property will be used only for business purposes.  

2.3     Party B
must not change the property usages in the lease period.  

Article 3 Lease Term 

3.1     The
lease term shall last for3 years from May 1st, 2009 to April 30th
, 2012 (hereinafter called ” term”).  

3.2     On (a)
the expiration date or (b)the earlier date before the termination of this contract, Party
A shall have the right to recover the property; and Party B should return the premises to
Party A on the expiration of the term or 90 days after the termination of this
contract (as the case may be).  

Article 4 Property
Rental and Payment 

4.1     Party B
shall pay 2,000,000 RMB (2,000,000 RMB of property rental) per year to Party A as
property rental.  

4.2     (a)
Party B should pay available funds to Party A immediately prior to the fifteenth business
day of Decemberevery year as the property rental.  

        
  (b)
   In
case the contract is terminated before the term expires, Party B shall pay
          Party A the total amount of property rental in the final year times the exact
          usage days of the final year divided by 365.  

2 

Article 5 Other Expenses 

5.1     Party B
should pay all the other expenses (“expenses”) as a result of usages of
property. These expenses include, but not limited to, water, electricity, gas, telephone
fee and Internet services fee.  

5.2     The
expenses of property should be based on the utility meter calculation; or, if applicable,
or by a pro-rata basis of the total area of the premises and buildings or related field;
or in accordance with the relevant service providers to reach the individual billing
arrangements (if applicable).  

5.3     Party B
should pay all expenses to the related charger in a timely fashion and then repay any
expenses for Party A.  

Article 6 Repairs and
Maintenance Responsibility 

6.1     Party A
shall be responsible for keeping the safety and the good conditions of the property
structure during the term and other repairs and cleaning should be charged by Party B.  

6.2     Part B
shall take good care of and properly use the premises and attached facilities, except for
(a) normal wear and tear, (b) Party A’s acts or omissions cause or result in the
damages as well as (c) any force majeure event causes damages, Party B should be
responsible for maintenance or compensation of any damage of the premises and attached
facilities.  

6.3     Expect
for (a) the existing renovations and facilities, (b) Party B required for business
operation or as all the necessary refurbishment and modification, Party B shall not
modify the renovations or refit the attached facilities without the written agreement of
Party A (but this kind of consent should not be refuse unreasonably).  If
Party B would like to modify the renovations or refit the attached facilities, Party B
should submit a written application, as well as a detailed plan or design drawings for
approval to Party A. Party A shall review such applications and other documents within a
reasonable time and put forward the instructions and advices for the plans designs or
drawings. Party B should engage in the renovations or modifications as the approved
applications other documents and instructions of Party A within the agreed period at their
own expenses. Notwithstanding the foregoing, Party B should be in charge of the result
arising from the acts of repairs and renovations. 

3 

6.4     Unless
other promises exist, any notice related to the property repairs should be submitted to
the other party before repairs commence within at least 72 hours.  

6.5     As the
force majeure event causing any damage of the property, additional sites or other places
(as the case may be), any of the parties will not have responsibility for the other
party. For the avoidance of doubt, the force majeure event should not include any event
caused by any party, their employees, agents or the mishandling of the customers.  

Article 7
Representations, Warranties and Undertakings by Party A 

The Party A acknowledges that, the
Party B shall sign this contract based on the truth of following representations and
warranties. The Party A’s representations, warranties and undertakings to Party B are
as follows: 

The Party A has all rights and
authorization of signing, conducting and delivering of this contract and carrying out the
proposed transactions in this contract, and the Party A is incorporated or formed formally
in accordance to applicable local laws. 

After singed and delivered this
contract, the Party A must fulfill all proposed transactions in this contract, and takes
all necessary corporate or other actions to get the formal approval and authorization. 

If the Party B authorizes, signs and
delivers this contract formally, it constitutes legal, effective and binding obligations
to Party A and can be conducted forcibly according to the rules of this contract unless
this clauses are limited by the laws of bankruptcy, insolvency, restructuring, deferred
payment and similar laws that affect the right of creditor; 

The property should be rented to the
Party B within the whole term and throughout the period of time, Party A should not affect
the property rights including all mortgages, liens, leases, security interest, easements
or other rights of third parties of Party B in this contract in any way; and 

All the relevant permits, approval,
authorizations, concession, licenses which are needed from the government bodies to
fulfill and realize terms and conditions of this contract are required, and they will
remain completely valid during the term of this contract. 

4 

Article 8
Representations and Warranties by Party B 

Party B acknowledges that, Party A
shall sign this contract based on the truth of the following representations and
warranties by Party B. The Party B’s representations, warranties and undertakings to
Party A are as follows: 

Party B has all rights and
authorizations of signing, conducting and delivering of this contract and carrying out the
proposed transactions in this contract, and Party B is incorporated or formed formally in
accordance with applicable local laws. 

After this contract is signed and
delivered, Party B must conduct all proposed transactions stated in this contract, and
take all necessary corporate or other actions to get the formal approval and
authorization. 

If Party A authorizes, signs and
delivers this contract formally, it constitutes legal, effective and binding obligations
to Party B and can be conducted forcibly according to the rules of this contract unless
this clauses are limited by the laws of bankruptcy, insolvency, restructuring, deferred
payment and similar laws that affect the right of creditor; 

Party B’s signing, delivery and
fulfillment of this contract and the completion of proposed transaction in this contract
will not violate the rules of the party’s organization and the corporate governing;
or violate any laws, regulations, contracts and judgments that have binding obligations to
the party. 

Article 9 Serious
Breach of Party B 

If Party B has the following actions
without prior written consent of Party A, Party A has rights to terminate this Contract.
Party B should make compensations to Party A in order to indemnify Party A from damages. 

Transferring the rights and
obligations under this contract to any other parties; 

Transferring, leasing or sub-leasing
the houses to any other parties; 

Using the buildings for illegal
activities and for applications excluded in the provisions of this contract and failing to
stop relevant activities within 30 days after receiving Party A’s notice. 

5 

Changing the structures of the
houses, renovating and changing without the approval or violation of the approved
application documents or indication of Provision 6.3 (excluding the renovation or changing
not described in the approval request of Provision 6.3) and fails to reinstate within 30
days after receiving Party A’s notice. 

Using the houses for dangerous
applications and failing to correct or unable to correct within 30 days after receiving
Party A’s notice. 

Defaulting in payment or other fees
and charges exceeding 60 days 

Article 10 Serious
Breach of Party A 

If Party A has following actions, Party
B has the right to terminate the contract and return the building and facilities and Party
A should make compensations to Party B in order to indemnify Party B from damages: 

Failing to deliver the building and
facilities to Party B in time; 

Causing damage to the structure of
the houses, serious damage to property of Party B or serious personal injuries to Party
B’s any employees, agent staff, agents or guest because of failing to maintain the
structure of the houses properly. 

Article 11 Indemnities 

If any representations, warranties or
undertakings of any party in this contract or relevant document delivered according to
this contract are inaccurate, or any violation of the representation, warranties and
undertakings bring about any claim of right, damages, indemnity, expense and cost
(including reasonable legal fee, attorney fee and expense), the party (“the
indemnifying Party”) should make compensation to the other party in order to
indemnify it from damages. 

6 

Article 12 Notice 

	12.1 	Notice  

All notices, requests, demands,
permission and other communications (“Notices”) shall be delivered to the other
party by personal delivery, or mail, or facsimile transmission, addressed as set forth on
the first page of this agreement as well as the other address or facsimile which have been
given by each party. Such notices shall be in compliance with this provision. 

	12.2 	Delivery  

Any notices shall be deemed to have
been delivered under the following circumstance: Such notices shall be deemed upon
delivered by delivery in person or express shipping company Or, upon the third day
following receipt of registered mail or certified mail with postage prepaid. 

Or, upon the date when delivered by
facsimile (the sender shall hold the transmission confirmation report which shows the
content, recipient’s number, transmission page and date.) 

Article 13 Termination 

	13.1 	Termination 

        This
Agreement shall be terminated upon the date of expiration except additional information
under this Agreement. 

	13.2 	Premature
Termination 

This contract will terminate
prematurely in the following conditions: 

	 	
Party
A shall have the right to terminate the contract early if Part A sells the property to
third party. 

This contract will terminate
immediately when the following events occurs and one party (non-delinquent) informs the
other party (delinquent) in written notice. 

The delinquent party reorganizes,
dismisses and declares bankruptcy under the condition of terminating business, insolvency,
bankruptcy and inability of repaying dept or other similar conditions, or appointing
property liquidator, liquidation committee, property receiver, property manager, trustee
and similar persons. 

7 

The delinquent party violates the
obligations, presentations, warranties and undertakings under this contract, and this
violation (if can be remedied) fails to be remedied within 30 days after receiving the
written notice from non-delinquent party to delinquent party. Or 

The delinquent party is unable to
fulfill its obligations under this contract in continuous 60 days or more because of force
majeure events. 

	13.3 	Remain
in Force  

If terminated under this provision,
this Agreement shall be no effective. However, both parties shall be under the binding of
provision 1.2, 3.2, 4.2,11,14 and this provision13.3. No provisions shall be deemed to
release any liabilities against any party of breach of this Agreement prior to the date of
termination. 

Article 14 Governing
Law and Dispute Resolution 

	14.1 	Governing
Law  

The signing, effectiveness,
explanation, execution and dispute resolution of this Agreement shall be governed by and
construed in accordance with Chinese Law. 

	14.2 	Dispute
resolution  

Any dispute, disagreement or claim
caused by this Agreement or relevance to this Agreement, or execution, explanation, breach
or effectiveness, or relevant to all above, shall be resolved by friendly negotiation.
Arbitration shall start when delivery the requirement of such arbitration in writing,
which requires to note the nature of dispute. If the dispute will not be resolved within
30 days after the said date of notice, the dispute shall bring to litigation following by
the notice from one party to another party. 

	14.3 	Litigation  

Litigation shall be raised and be
judged by local court. 

8 

	14.4 	Property
Preservation  

In order to protect the right of both
parities and provide solution, any party has the right to ask for property preservation
before the final award by the court in accordance with law. During the period of dispute
resolution, both parties shall continue performing other provision of this Agreement
except dispute matter. 

Article 15 Force Majeure 

As the incidents that the blocked
side can’t forecast and prevent or avoid it from occurring, such as earthquakes,
typhoons, floods (but except for the negligence or intentional fires caused by either
party of this agreement , employees ,agents or guests), fire emergency (but except for the
negligence or intentional fires caused by either party of this agreement , employees,
agents or guests) and other natural disasters, wars, riots and similar military actions,
civil commotion, as well as strikes, sabotage, epidemic and the embargo , expropriation,
injunction or other restrictions and actions of the government ( “force
majeure”), are directly to cause that either party can not fulfill the obligations in
whole or in part under the agreement (¡°blocked party), as long as meeting all
the following situations, the blocked side should be regarded as not in breach of the
contract. 

If the blocked side encounters the
work stoppage, obstacles or delays due to the force majeure as a direct result of the
incident when it carries out the obligations of the contract; and when force majeure takes
place, the blocked side has noticed the other side, and provided the written materials
concerning it within 30 days after the force majeure takes place, which includes
specifications of stating delays in performances or the parts about the reason to fulfill
this agreement. 

Article 16 Miscellaneous 

	16.1 	Abstention  

As any of the parties waives the
right of this agreement, it must sign a written document as the proof. The right, power or
remedy of any party under delay or failure to exercise this agreement should not be
regarded as abstention. Exercising the right, power or remedy under the part of this
agreement should not rule out further exercise of such rights, powers or remedies or the
exercise of other rights, powers or remedies. Without limiting the provisions above, if
one party waives to investigate the other party’s breach to the provisions of this
agreement, it should not be viewed as its giving up investigating the breach of this
provision or any other provision in the further. 

9 

	16.2 	No
transferring or subletting  

This contract shall be binding upon
and inure to the benefit of the parties hereto, their successors and assigns. Without the
prior written agreement of the other side, either party may not transfer its present
rights and obligations under the agreement. Without the above mentioned consent, the
declaration of transfer of either party may not valid. Without the prior written consent
of Party A, Party B may not transfer, lease or sublease the houses to any other parties. 

	16.3 	Transfer
of Ownership  

If the ownership of the houses is
transferred to any other parties by Party A, Party A shall make sure that Party B is
entitle to continue to use the buildings and facilities under the same terms and
conditions of this agreement. 

	16.4 	Entire
Agreement  

The entire undertakings and
agreements that have reached by both sides regarding the major issues, which are used to
replace the any prior agreements and understandings by both parties. 

	16.5 	Remedy  

Both parties confirm that the damages
may not be sufficient to compensate for the breach of agreement loss. Each party has the
right to prohibit the violation of this agreement, the enforcement of agreement terms and
provisions of the injunction or other relief. 

The rights of each party under the
agreement belong to the accumulative rights; any party can own all other rights or the
rights after remedies according to the law. 

10 

	16.6 	Not
constituting an employment or partnership  

Without any regulation under this
agreement should be constituted or be deemed as constitute Employer-employee relationship
or partnership. 

	16.7 	Divisibility  

Any or each of the obligations should
be treated as the independent obligation under this agreement and any or more obligation
in whole or in part will be enforced separately when it can’t be enforced. If any or
more terms of this agreement can’t be enforced, it should be deleted from the
agreement, but any of the deletions will not affect other enforcement without deletion
under this agreement. 

	16.8 	Amendment  

The contract can be amended, modified
and supplemented only if the both parties sign the written agreement upon the contract. 

The remainder of this page
intentionally left blank 

11 

IN WITNESS WHEREOF, the parties
hereto have executed this contract as of the date and year first above written. 

PARTY A: HARBIN XINDA
HIGH- TECH CO., LTD. 

By:  _________________

Name: Sun Limei 

Title: General Manager 

PARTY B: HARBIN XINDA MACROMOLECULE
MATERIAL CO., LTD. 

By: _________________

Name: Han Jie
Title: General Manager 

        Appendix A

        

        Property Description

        

        

        	
                    Property Title

                	
                    Certificate No.

                	
                    Construction Area(Square Meters)

                	
                    Built Year

                	
                    Structure

                	
                    Usage

                
	
                    No.1 Plant

                	
                    No.00107917 of Property Right
                    Certificate of Harbin

                	
                    8289 19

                	
                    2006

                	
                    Steel structure

                	
                    Industrial factory building

                
	
                    No.2 Plant

                	
                    No.00107913 of Property Right
                    Certificate of Harbin

                	
                    12£¬658 73

                	
                    2006 

                	
                    Steel structure

                	
                    Industrial factory building

                
	
                    No.3 Accessory Occupancy

                	
                    No.00107916 of Property Right
                    Certificate of Harbin

                	
                    146 17

                	
                    2006 

                	
                    Steel concrete

                	
                    Other applications(reception room, safety guard room)

                    

                    

                
	
                    No.4 Accessory Occupancy

                	
                    No.00107915 of Property Right
                    Certificate of Harbin

                	
                    108 93

                	
                    2006 

                	
                    Steel concrete

                	
                    Other applications(fire pump room)

                
	
                    No.5 Accessory Occupancy

                	
                    No.00107914 of Property Right
                    Certificate of Harbin

                	
                    25 21

                	
                    2006 

                	
                    Steel concrete

                	
                    Other applications(air compressor house)

                
	
                    No.6 Office Building

                	
                    No.200702187 of Property Right
                    Certificate of Harbin

                	
                    2665 30

                	
                    2007 

                	
                    Framework

                	
                    Office Building

                

        

        

        

        

        
            

        

Appendix B 

The Copies of the
Property Certificate of Ownership 

        
            

        

>

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