Extension Agreement among China America Holdings, Glodenstone Development, Aihua Hu, Ying Ye, and Shanghai AoHong Chemical (May 10, 2011)

Summary

This agreement extends the deadline for China America Holdings, Inc. to obtain shareholder approval for a previous Membership Interest Sale Agreement from May 31, 2011 to June 15, 2011. It also extends the maturity date of a related Secured Promissory Note between China America Holdings and Glodenstone Development Limited to June 15, 2011. The parties involved are China America Holdings, Glodenstone Development Limited, Aihua Hu, Ying Ye, and Shanghai AoHong Chemical Co., Ltd.

EX-10.21 2 exh10-21.htm EXTENSION AGREEMENT DATED MAY 10, 2011 AMONG CHINA AMERICA HOLDINGS, INC., GLODENSTONE DEVELOPMENT LIMITED, AIHUA HU, YING YE, AND SHANGHAI AOHONG CHEMICAL CO., LTD. exh10-21.htm

Exhibit 10.21

EXTENSION AGREEMENT

This will confirm that the undersigned hereby agree to extend the latest date for obtaining the approval of the shareholders of China America Holdings, Inc. (the “Company”) from May 31, 2011 to June 15, 2011 in connection with the December 23, 2010 Membership Interest Sale Agreement entered into among the Company, Glodenstone Development Limited, a British Virgin Island company (“Glodenstone”), Aihua Hu and and Ying Ye (the “Membership Sale Agreement”).

In addition, Glodenstone hereby agrees to extend the Maturity Date from May 31, 2011 to June 15, 2011 under the Secured Promissory Note dated December 23, 2010 executed by the Company.

IN WITNESS WHEREOF, the parties hereto have executed this Extension Agreement as of the 10 day of May, 2011.

China America Holdings, Inc.

By: /s/ Shaoyin Wang

Shaoyin Wang, President

Shanghai AoHong Chemical Co., Ltd.

By: /s/Aihua Hu

Aihua Hu, Chief Executive Officer

Glodenstone Development Limited

By: /s/ Renqi Song

Renqi Song, President

/s/ Aihua Hu

Aihua Hu, shareholder

/s/ Ying Ye

Ying Ye, shareholder