Cost Reimbursement and Claims Settlement Agreement among Zhejiang Joinan Lighting, Double Bank Investment, China Green Lighting, and Wang Lixia

Contract Categories: Business Operations › Settlement Agreements
Summary

This agreement involves Zhejiang Joinan Lighting, Double Bank Investment, China Green Lighting, and Wang Lixia. It settles the reimbursement of RMB 4,474,521 paid by Wang Lixia for listing Zhejiang Joinan Lighting on the US OTCBB. China Green Lighting agrees to assume this cost, and Double Bank Investment will pay Wang Lixia directly. After payment, China Green Lighting owes Zhejiang Joinan Lighting the same amount, and all claims between China Green Lighting and Wang Lixia are resolved. The agreement is effective as of September 30, 2011.

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EX-10.1 2 v240230_ex10-1.htm Unassociated Document
Agreement
 
Party A - Zhejiang Joinan Lighting Co., Ltd
 
Party B - Double Bank Investment Co., Ltd.
 
Party C - China Green Lighting Limited(CHGL.OB)
 
Party D - Wang Lixia
 
Whereas:
 
1. Party A paid RMB 6,000,000 to Party B in May, 2011;
 
2. Party D has paid the cost of listing Party A onto OTCBB in the US in an amount of RMB 4,474,521;
 
Party A, B, C and D agree to enter in the Agreement:
 
I. Party C agrees to undertake the cost of listing in an amount of RMB 4,474,521 paid by Party D;
 
II. Party B shall pay RMB 4,474,521 directly to Party D;
 
III. The relation of claims and liabilities among Party A, B, C and D as a result shall become:
 
1. The amount payable to Party A by Party C, and receivable from Party C to Party A shall be RMB 4,474,521;
 
2. Any relation of claims and liabilities between Party C and Party D shall not exist thereafter.
 
IV. This Agreement shall be executed in four counterparts with each party holding one. All the counterparts shall constitute the same and original agreement.
 
 
 
 
 
The following serves for signing purpose:
 
Party A: Zhejiang Joinan Lighting Co., Ltd
Representative: /s/
 
Party B: Double Bank Investment Co., Ltd.
Representative: /s/
 
Party C: CHINA GREEN LIGHTING LIMITED (CHGL..OB)
Representative: /s/
 
Party D: Wang Lixia
Signature: /s/
 
Date: September 30, 2011