EX-10.4 5 cdwi8kex104122905.txt ENGLISH SUMMARY OF THE AGREEMENT Exhibit 10.4 Summary of an Agreement relating to transfer of right to make patent application Transferor Zhang Naiyao - owner of the right to make patent application in relation to the invention-creation 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 right to make patent application Reference no. for patent application: 200310124510.1; - 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 consideration - Payment shall be made by the Transferee or any 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 terminate the Agreement, to demand for the return of consideration paid and to demand for the payment of compensation of RMB100,000 - If the Transferor delays in providing the Transferee with information under the Agreement to comply with the procedures of the Transfer, the Transferee shall be entitled to demand for the payment of compensation, of RMB100,000 per week; and, if payment has not been made within 2 months from the date of which it is due, to terminate the agreement - If the Transferee refuses to pay the consideration, the Transferor shall be entitled to terminate the Agreement, to demand for the return of information provided and to demand for the payment of compensation of RMB100,000 - If the Transferee delays in paying the consideration, the Transferor shall be entitled to demand for interest accrued and, if payment has not been made within 2 months from the date of which it is due, to terminate the Agreement if the payment is not made within 2 months, and demand a penalty payment of RMB100,000.