Termination Agreement (English translation), among Bizhen Chen, Keyan Yan and Roller Rome Limited, dated January 31, 2011
Exhibit 10.18
Termination Agreement
| Party A: | Bizhen Chen |
| ID Number: | 359002197508241028 |
| Address: | No.4 Block 1, Yupu Village, Baogai County, Shishi City, Fujian Province. |
| Party B: | Keyan Yan |
| ID Number: | 340825197206111314 |
| Address: | Room 408, Building 1, #4-52 West Yuanyang Road Shishi City Fujian Province. |
| Party C: | Roller Rome Limited |
| Legal Address: | Sea Meadow House, Blackburne Highway, Toad Town, Tortola, British |
| Virgin Islands. |
This Termination Agreement is to terminate the agreement entered into by Party A, Party B and Party C on December 18, 2006 (the “Agreement”) whereby Party C shall have the right to acquire and enjoy all of the equity interests of Hongri (Fujian) Sporting Goods Co., Ltd. (“Hongri”).
Given that Hongri will be changed to a wholly foreign owned enterprise through the share restructuring, Party C agrees to waive all of the rights and interests under the Agreement, which will take effect from the date when Hongri obtains the business license as a wholly foreign owned enterprise.
This Termination Agreement shall be executed in three counterparts with each party holding one counterpart.
Date: January 31, 2011
Party A: Bizhen Chen
/s/ Bizhen Chen
Party B: Keyan Yan
/s/ Keyan Yan
Party C: Roller Rome Limited
Authorized Representative: /s/ Keyan Yan on behalf of Roller Rome Limited
