Agricultural Partnership Agreement between Qianguo District Xinmiao Grain Depot and Songyuan City Ermapao Green Rice Limited (2007-2010)

Summary

This agreement is between Qianguo District Xinmiao Grain Depot and Songyuan City Ermapao Green Rice Limited for the exclusive purchase, storage, and delivery of grain over a three-year period from July 10, 2007, to June 9, 2010. The Grain Depot will supply increasing annual quantities of grain to Ermapao Green Rice, who will pay a deposit, cover insurance and certain fees, and make annual payments. Penalties apply for late payments or failure to deliver. Disputes are to be resolved first by negotiation, then by local court if needed.

EX-10.1 2 e602367_ex10-1.txt AGRICULTURAL PARTNERSHIP AGREEMENT Agricultural Partnership Agreement with Xinmiao Grain Depot Agreement Number: NO ###-###-#### Agreement Date: 7/10/2007 Place of agreement: Xinmiao Grain Depot Party A: Qianguo District Xinmiao Grain Depot Party B: Songyuan City Ermapao Green Rice Limited. 1. Product name, quantity, price

2. Length of contract: July 10th 2007 until June 9th 2010. Agreement period is 3 years. 3. Contents of agreement: A will be responsible for taking loans for local banks and raise necessary capital for grain purchase. B will have to give A an initial payment of 10% of security deposit and interest from the loan. A will only purchase grains solely for B, and not for any other companies. A must provide at least 10,000 tons of grains to B and gradually increase by 1,000 tons annually starting from date of agreement. A has an annual storage capacity of 160,000 tons of grains. A will be responsible for purchase, storage, and transport of the grains and all costs incurred with these activities. B has agreed to give A a purchasing fee of 30 Renminbi/ ton. 4. Insurance: B will have to provide insurance for grains that are stored. 5. Place of transaction and transportation method: A will provide cart services for the grains to B, after transaction, A will be responsible for trucking transportation. 6. Contents of transaction: Upon the completion of transaction a. B will pay A in cash upon completion of each and every transaction. b. B will pay off the last installment on June 9th of every year. c. Time of transaction: Transaction of all processed grains for the current year will be completed on or before June 9th of every year. 7. Package standards: Standard. 8. Breach of contract: a. If A is unable to provide B with the required tons of grains, A will have to pay B an amount of 2055 Reminbi for each ton. The required quantity each year is stated in the contract. b. If B is unable to pay on time, B will have to pay A 1% of the payment as late fee for each day after the transaction date. If B is unable to pay off the final payments, all of the products associated with that transaction will belong to Songyuan City Agricultural Development Bank. 9. Drying fees: B will be responsible for all drying fees associated with the grains at 10Renminbi/ton. Water ratio will be 1:1.5, B will be responsible for 5% of natural losses, A will be responsible for any costs thereafter the 5% natural loss. 10. If any conflict occurs, A and B will initially engage in a friendly meeting to resolve any disagreements, If an agreement is not reached, the matter will be handed over to the local court where the agreement is signed. 11. Others: This agreement will be effective after signatures and stamps from both parties. A faxed copy of this agreement is also effective. 12. There will be three copies of this agreement, A and B will each have a copy, the Agricultural Development Bank will also have a copy of this agreement. - -------------------------------------------------------------------------------- A: B: Name: Songyuan City Ermapao Green Name: Qianguo District Xinmiao Rice Rice Limited Depot Address: Songyuan City Qianguo District Address: Songyuan City Qianguo District Ping Feng Xiang Xinmiao Town Representative: Huizhi Xiao Representative: Yuchen Jia - --------------------------------------------------------------------------------