Termination Agreement between Tianjin Shimao Auto Logistics Center Co., Ltd and Tianjin Binhai Shisheng Trading Group Co., Ltd (November 30, 2012)

Summary

Tianjin Shimao Auto Logistics Center Co., Ltd and Tianjin Binhai Shisheng Trading Group Co., Ltd have agreed to end their Vehicle Exhibition Hall Lease Contract early, effective November 30, 2012. The landlord will refund the tenant a total of RMB 255,000, covering December 2012 rent and the security deposit, within one week. The tenant agrees not to seek any further compensation. The agreement is effective once both parties have signed and stamped it.

EX-10.5 5 f10k2012ex10v_chinaauto.htm TERMINATION AGREEMENT, DATED AS OF NOVEMBER 30, 2012, BY AND BETWEEN TIANJIN SHIMAO AUTO LOGISTICS CENTER CO., LTD AND TIANJIN BINHAI SHISHENG TRADING GROUP CO., LTD. f10k2012ex10v_chinaauto.htm

Exhibit 10.5

Termination Agreement

Party A (the Leaser): Tianjin Shimao Auto Logistics Center Co., Ltd

Party B (the Leasee): Tianjin Binhai Shisheng Trading Group Co., Ltd

Whereas, in June 2010, the Parties had entered into a Vehicle Exhibition Hall Lease Contract for the Premise located at 129 Tianbao Avenue, Free Trade Zone, Tianjin; and whereas Party A wishes to conduct refurbishment and decoration of the Premise in question, both the Parties hereby agree to terminate the said Lease Contract as of November 30, 2012, prior to its expiration.

Party A hereby agrees to refund the rental for December 2012, RMB 105,000, and deposit for the said Contract, RMB 150,000, totaling TWO HUNDRED FIFTY-FIVE THOUSAND renminbi, to Party B within one week from the date of this Agreement. Party B agrees not to claim any additional compensation against Party A.

This Agreement becomes effective with official stamps of both parties. This Agreement is made in two copies, each held by one of the parties.

Party A:

Party B:

Nov 30, 2012