Agreement for Sale of Commodity, dated February 19, 2011, by and among the Fifth Season (Zhejiang) Commerce and Trade Co., Ltd and Guangdong Yuehe Assets Management Co., Ltd
Exhibit 10.23
Sales Agreement
Supplier: The Fifth Season (Zhejiang) Trade Co., Ltd
Buyer: Guangdong Yue He Asset Management Co., Ltd
Signed at: Hangzhou, Zhejiang Province
Date: 2011-02-19
Article 1:
Product Name, Specification, Quantity, Total Amount
| Product Name | Quantity | Unit Price (RMB) | Total Amount (RMB) |
| LED Underground Lamp | 2000 sets | 2688 | 5376000 |
| LED Line Lamp | 3000 sets | 3360 | 10080000 |
| LED Pointolite | 4000 sets | 456 | 1824000 |
| Energy Saving Lamp | 100,000 pieces | 111.2 | 11120000 |
| Total | RMB 28,400,000 |
Article 2: Payment Method
30% deposit is paid up front, then the remaining balance is paid upon arrival of goods.
Article 3: Delivery Date
Delivery date is March 31, 2011.
Article 4: Place of Delivery
Warehouse indicated by buyer.
Article 5: Supply and Recycling of Packaging Material
Supplier provides but does not recycle cardboard boxes.
Article 6: Packing Standard
Normal cardboard boxes.
Article 7: Transportation Method
Vehicle transportation.
Article 8: Cost Bearing
Buyer bears the costs of packaging and transportation.
Article 9: Receiver of Goods
Guangdong Yuehe Asset Management Co., Ltd.
Article 10: After-sale Service
Supplier is responsible for technical guidance during lamp installation, and it provides free one year warranty of the goods.
Article 11: Breach of Contract Duty
| 1. | A default fee, 30% of total amount, shall be paid if supplier cannot deliver or buyer cancels delivery. |
| 2. | A late fee, 0.05% per day of total amount, shall be paid if delivery or payment is delayed. |
Article 12: Effectiveness
This contract shall be in effect after both parties sign it. If a party is to amend or cancel the contract, it must enter a negotiation with the other.
Article 13:
This contract shall be signed in four counterparts; both parties hold two copies respectively.
Article 14:
Any matters that are not stipulated in the contract shall be negotiated in accordance with the Contract Law of the People’s Republic of China. If negotiation fails, both parties can seek resolution at the People’s Court of Hangzhou.
Supplier:
Name of Entity: The Fifth Season (Zhejiang) Trade Co., Ltd
By: /seal/ The Fifth Season (Zhejiang) Trade Co., Ltd
Buyer:
Name of Entity: Guangdong Yue He Asset Management Co., Ltd
By: /seal/ Guangdong Yue He Asset Management Co., Ltd
Date: February 19, 2011
