Share Holding Transfer Agreement
Transferor
(Party A): Xi’an
Amorphous Alloy Science& Technology Co., Ltd.
Transferee
(Party B): Xi’an
Amorphous Alloy Zhongxi Transformer Co., Ltd.
Party
A
and Party B agreed through friendly negotiation regarding Party A shall transfer
it’s shares which it owned 1,500,000 shares of Yan’an Amorphous Alloy
Transformer Co., Ltd. to Party B, Party A and Party B made this agreement as
follows:
1.The
portion of transfer shares
Party
B
shall purchase Party A’s shares which it owned RMB 1,500,000 of Yan’an Amorphous
Alloy Transformer Co., Ltd.
2.The
business transaction period and method of share transfer
The
amount of transfer shares value RMB 1,090,000.
Upon
the
effective of this agreement within 15 days, Party B shall pay RMB1,090,000
to
Party A.
0.Xxxxx
A
shall be responsible for the legality which it transferred the shares to Party
B, and ensure the transfer action has been approved by the shareholders meeting
of Yan’an Amorphous Alloy Transformer Co., Ltd.
4.After
the shares have been transferred, Party B shall enjoy the shareholders’ equity
of Yan’an Amorphous Alloy Transformer Co., Ltd. in 2005.
5.
The
responsibility for breaching the agreement
If
Party
B failed to pay the above payment in full based on term 2, it is overdue for
one
month, Party A has entitled to terminate this agreement and require Party B
to
pay the damages; If Party A failed to ensure the legality of transfer action
based on term 3, Party B has entitled to terminate this agreement, and require
Party A to pay the damages.
6.
This
agreement shall be effective after signed and sealed by Party A and Party
B.
7.
This
agreement has 2 originals, each party holds 1 original, it has the same legal
effect.
Party
A ( signature and seal) :
Representative:
Party
B (signature and seal):
Representative:
May
10,
2005