EX-10.16 21 v426657_ex10-16.htm EXHIBIT 10.16

Exhibit 10.16

 

Share Exchange Agreement

 

Transferor (Party A): Zhejiang Xibolun Technology Co., Ltd.

 

Transferee (Party B): HONGKONG XIBOLUN TECHNOLOGY LIMITED

 

The registered capital of the Sino-foreign joint venture Wenzhou Xibolun Automation Project Technology Co., Ltd. is RMB 3,000,000. Zhejiang Xibolun Technology Co., Ltd. contributed capital of RMB 300,000, 10% of the registered capital. Wenzhou Xibolun Fluid Equipment Co., Limited contributed capital of RMB 300,000, 10% of the registered capital. HEBRON TECHNOLOGY CO., LTD contributed RMB 2,400,000, 80% of the registered capital. Currently because Zhejiang Xibolun Technology Co., Ltd. intends to focus on other areas, with consent of the other two investors, it decides to transfer all of its shares in the joint venture to HONGKONG XIBOLUN TECHNOLOGY LIMITED.

 

I.Parties’ Names and Addresses:

 

Party A: Zhejiang Xibolun Technology Co., Ltd.

 

Legal Address: Building No.1-2, No. 58715th Road, 3rd Av., Binhai Ind. Park, Tianhe, Longwan District, Wenzhou

 

Postal Code: 325000

 

License Number: 330303000082776

 

Contact Phone Number: 0577-86895223

 

Party B: HONGKONG XIBOLUN TECHNOLOGY LIMITED

 

License Number: 1615940

 

Legal Address: Room 1003, 10/F, Witty Commercial Bldg, 1A-1L Tung Choi St, Mong Kok, Hong Kong

 

Phone Number: 13758822773

 

II.Share Transferred and Consideration: Party A transfers 10% of shares in Wenzhou Xibolun Automation Project Technology Co., Ltd. with paid-in capital of zero to Party B without any consideration.

 

III.Rights and Obligations: On the day when the share transfer is closed, all the rights and obligations that Party A owns are transferred to Party B.

 

IV.Liability for Breach of Contract: If Party A does not transfer the right timely, it should compensate all loss incurred.

 

V.Dispute resolution: For any dispute, Party A and Party B shall negotiate for settlement. If it cannot be settled, either party can submit it to Longwan District Court for suit according to Contract Law of the People's Republic of China.

 

VI.Agreement Execution and Termination: This agreement is effective after being approved by the original approval authority. It is terminated after both parties perform it.

 

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VII.This agreement is signed by the representatives of both parties at Wenzhou, China on October 30, 2012. It has 8 originals, with Party A and Party B each holding one copy, Wenzhou Xibolun Automation Project Technology Co., Ltd holding one copy for record, and other being submitted to relevant authorities for record.

 

Party A: /s/ Zhejiang Xibolun Technology Co., Ltd.

 

Party B: /s/ HONGKONG XIBOLUN TECHNOLOGY LIMITED

 

2012-10-30

 

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