EX-10.3 4 cdwi8kex103122905.txt ENGLISH SUMMARY OF THE AGREEMENT Exhibit 10.3 Summary of an Agreement relating to transfer of patent ownership Transferor Zhang Naiyao - the sole owner of the utility model patent right of a type of power transformer Transferee Shanghai TCH Data Science & Technology Co. Ltd The Transfer - the Transferor shall transfer to the Transferee his patent right [Reference no. for the patent: ZL200320123062.9 Effective period of the Patent: 10 years ; Date of announcing patent ownership: 9 February 2005] - the Transferor shall provide the Transferee with:- > all documents relating to its patent application; > all documents issued by China Patent Office; > all certificates issued by China Patent Office Consideration the Transferee shall pay the sum of RMB11,000,000 to the Transferor Date of the Agreement 29 December 2005 Payment of - Payment shall be made by the Transferee or any consideration third party appointed by the Transferee within 10 days after the receipt of "Change of Patent Applicant" by the Transferee and the approval of such change by the State Intellectual Property Office. Penalty for breach of - If the Transferor refuses to provide the Transferee the Agreement with information required under the Agreement to comply with the procedures of the Transfer, the Transferee shall be entitled to demand for the payment of RMB50,000 as compensation; - If the Transferee is in breach of the Agreement, the Transferor shall be entitled to demand for payment of RMB50,000 as compensation and to demand for the return of information provided.