Attached files
| file | filename |
|---|---|
| 8-K - Chisen Electric Corp | v195089_8k.htm |
| EX-10.5 - Chisen Electric Corp | v195089_ex10-5.htm |
| EX-10.6 - Chisen Electric Corp | v195089_ex10-6.htm |
| EX-99.1 - Chisen Electric Corp | v195089_ex99-1.htm |
| EX-10.1 - Chisen Electric Corp | v195089_ex10-1.htm |
| EX-10.3 - Chisen Electric Corp | v195089_ex10-3.htm |
| EX-10.4 - Chisen Electric Corp | v195089_ex10-4.htm |
Compensation
Agreement of Corporate Relocation Acquisition
Party A:
Administrative Committee of Changxing Economic Development Zone,
Zhejiang
Address:
No.666 Jingyi Road, Changxing Economic Development Zone
Tel: 86
(572)- 6023743 Fax；86 (572)
-6039109
Party B:
Changxing Chisen Electric Co., Ltd.
Legal
Representative: Xu Kecheng
Address:
No.667 Jingyi Road, Changxing Economic Development Zone
Tel:
86(572)- 6267301 Fax；86(572)
-6236588
Party A authorized Zhejiang Changxing
Economy and Technology Development Company to act on its behalf. Any
bills issued related to Party A should use “Zhejiang Changxing Economy and
Technology Development Company” as the letter heading.
According to
certain related local relocation policies of Changxing County, Changxing Chisen
Electric Co., Ltd. (hereinafter referred to as “Party B”) will move and consent
Administrative Committee of Changxing Economic Development Zone (hereinafter
referred to as “Party A”) to acquire the land use right and ground buildings of
Party B, which is currently located in Changxing Economic Development Zone. The
acquisition will be carried out based on the terms and conditions as following:
Properties with property ownership certificates will be estimated by the market
value; Properties with no property ownership certificates will be estimated by
the replacement value; the equipment loss will be based on the proportion of
depreciation; suspended operation loss will be based on the minimum economic
guarantees.
NOW, THEREFORE, in
consideration of the premises the parties do hereby mutually covenant and agree
as follows:
1. According to certain related
policies, Party A entrusted a property appraisal firm to conduct a comprehensive
assessment on Party B and provide compensation for Party B in the form of
government acquisition.
2. After this
Agreement becomes effective, Party B will move out of the original factory site
and the land and surface buildings will be arranged separately. The battery
production project will be moved out of the site in Jingyi Road, Changxing
Economic Development Zone.
3.
Party A agrees to pay compensation to Party B including:
1）the Land Range of
the Acquisition: From north to south, the land stretches from the crossing of
east Xianqian Street and Jingyi Road to Changxing pharmaceuticals, Ltd.. From
east to west, it extends from Jingyi Road to Chisen Glass Co., Ltd. with
certificates numbered: (2008) 1-2585, (2008) 1-2586 and (2008)
1-2932. Among these, properties with property ownership certificates
occupy 34,943.52 square maters with estimated value amounts to RMB 92,917,100;
properties with property ownership certificates occupy 4478.9 square maters with
estimated value amounts to RMB1, 508,600; fixtures amounts to RMB 3,053,000;
appurtenances and auxiliary facilities amounts to RMB 1,035,500.
2）Equipment
removal loss amounts to RMB 6,939,900.
3）Suspended
operation loss for two (2) months amounts to RMB 11,748,000.
4）There is
no compensation for any other items.
The total
assessed value for assets above is RMB117, 202,100 (with assessment report).
Party A will acquire at RMB117, 202,100.
Party B
has no objection to listed in this agreement and the amount of compensation,
promising hold legal disposition rights to items above (including land and
ground buildings, structures) and ensure no third party right holders would
interfere with Party A’s acquisition action. If any loss is incurred which is
caused by third
party right holders, Party B will be responsible for
compensation.
Party
A shall pay the compensation for the acquisition according to this
Agreement. Party B should ensure the delivery of certificates
related to land, ground buildings (structures) to party A within the prescribed
time limit. Party A is responsible for coordinating with Changxing County Land
Reserve Center for the implementation of the land use right acquisition.
Party B shall
provide active support.
Certificates shall
be delivered to Party A by Party B within 30 days after the signing of this
Agreement and completely move out within 1 year after the signing of this
Agreement. Party A will pay according to the
terms below:
Party A
shall pay 5% of the acquisition amount within one month after this
Agreement is effective. Party A shall pay 20% of the acquisition
amount within one month upon Party B’s delivery of the land-use right
certificate, cancellation registration of real estate
encumbrance (collateral, etc.). Party A shall pay 25% of the total purchase
price after the commencement of the removal.
Once the relocation project is completed, Party
A shall pay the remaining 50% of the total purchase
price if the
relocation project has been completed and has prepared to deliver the land use
right. Party A shall pay Party B the
total purchase
price in accordance with the agreed time. The land advance payment paid by Party B to Party A can also be
deducted in
accordance with the Investment Agreement.
In the
course of implementation of this Agreement, except for force, if Party B fails
to deliver the certificates or complete the relocation within the time
stipulated in the agreement, Party B shall bear the 500,000 yuan delay penalty
each month, liquidated damages shall be deducted in the total purchase
amount.
The
signing of this Agreement is deemed as the delivery of land and ground
buildings, structures with certificates numbered: (2008) 1-2585, (2008) 1-2586
and (2008) 1-2932. Party B shall not obstruct Party A’s disposal of the items
listed above in any way. Party
B shall deliver all certificates and documents in accordance with the
requirements put forward by Party A (including land use right certificate,
geological survey report, drawings related to the building
construction).
After the
implementation of this Agreement, Party A and the Changxing County Land Reserve
Center will no longer bear any given obligation.
Where a
labor dispute between the parties takes place during the performance of this
Contract, the parties concerned may seek for a settlement through consultation;
or either party may apply to legal action.
This
Agreement shall be in triplicate copies and made in Administrative Committee of
Changxing Economic Development Zone, Zhejiang. This Agreement shall come into
effect as of the date on which the legal or authorized representatives of both
Parties execute or seal this Agreement.
Party A:
Administrative Committee of Changxing Economic Development Zone,
Zhejiang
Legal
Representative:
Party B:
Changxing Chisen Electric Co., Ltd.
Legal
Representative:
Date:
August 20, 2010