Rescission Agreement between China Gene Ltd. and International Consolidated Companies, Inc.

Contract Categories: Business Finance › Release Agreements
Summary

China Gene Ltd. and International Consolidated Companies, Inc. have agreed to cancel a previous transaction involving Grow Ease International Ltd. and AIM Sky Ltd. Each party will cover its own expenses, and all obligations between them are ended. Any shares exchanged will be returned, restoring both parties to their original positions as if the transaction never occurred.

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EX-10.1 2 exhibit10_1.htm EXHIBIT 10.1 exhibit10_1.htm
Exhibit 10.1
 

 
September 29, 2008
 
China Gene Ltd.
 
Hong Kong
 
Re:           Rescission of Agreement
 
Dear Mr. Wang Yang:
 
Pursuant to our discussion this letter will confirm that Chine Gene Ltd. and International Consolidated Companies, Inc. agree to rescind the transaction between them as effectuated through Grow Ease International Ltd. and AIM Sky Ltd., both British Virgin Island corporations.
 
Any expenses incurred by either party during this transaction will be the responsibility of the party and the parties agree that there is no further obligation between them. The agreement is hereby rescinded as if it had been terminated prior to closing. Any share ownership shall be returned to the respective party so that both are in the same position as if the transaction had not closed.
 
Sincerely,
 
INTERNATIONAL CONSOLIDATED COMPANIES INC.
 
/s/ Antonio F. Uccello, III

ANTONIO F. UCCELLO III
CEO


/s/ Wang Yang

READ AND AGREED BY CHINA GENETIC LTD.
MR. WANG YANG