Extension Agreement for Trademark License Fee Payment between France Cock (China) Limited and Hongri (Fujian) Sporting Goods Co., Ltd.
France Cock (China) Limited and Hongri (Fujian) Sporting Goods Co., Ltd. have agreed to extend the deadline for payment of outstanding trademark license fees under their previous agreements from 2005 and 2009. The licensor will not charge any interest on the delayed payments, and the licensee must pay all outstanding fees by December 31, 2013. This extension was formalized on February 28, 2011.
Exhibit 10.16
Extension of Collecting Trademark License Fee
To: Hongri (Fujian) Sporting Goods Co., Ltd. (Licensee of the Trademark)
Re: Fees for Trademark License Agreement
The parties have executed Trademark License Agreement on December 1, 2005 (Contract No.: 20051201001) and December 1, 2009 (Contract No.: 20091201001) respectively. Based on friendly consultation, the licensor agrees that all the outstanding payable trademark license fees under the above-mentioned agreements shall be delayed collecting without incurring any interests. The licensee of the trademark can finish the payment of relevant fees upon or before December 31, 2013.
Trademark Licensor: France Cock (China) Limited (Chopped with the Company Seal)
Authorized Representative: Keyan YAN (Signature)
Date: February 28, 2011
