Amendment to Guarantee Contract Between Shenzhen Shiji Ruichen Guaranty and Investment Co. Ltd. and China Digital Communication Group

Summary

This amendment updates the guarantee contract between Shenzhen Shiji Ruichen Guaranty and Investment Co. Ltd. and China Digital Communication Group. The parties agree to double the compensation amounts payable by the Guarantor to the Guarantee if the Seller defaults, both for total compensation and daily compensation in case of contract delays. All other terms of the original contract remain unchanged.

EX-10.2 3 ex-10_2.txt AMENDMENT OF GUARANTEE CONTRACT BETWEEN SHIJI RUICHEN GUARANTY AND INVESTMENT CO. LTD. AND CHINA DIGITAL COMMUNICATION GROUP Contract serial number: LUBAO ZI NO. 0902, 2004 GUARANTOR: Shenzhen Shiji Ruichen Guaranty and Investment Co. Ltd. ADDRESS: 1706-09 Fuhua 1st Road. Center Commercial Tower. Futian Area. Shenzhen. China Corporate Legal Representative : Zhiyong Xu BANK: BANK ACCOUNT: TELEPHONE: 755-82032400 FACSMILE: 755-8203-2511 POSTAL CODE: 518048 GUARANTEE: China Digital Communication Group ADDRESS: 10880 Wilshire Blvd. Suite: 2250 Los Angeles. CA. TELEPHONE: (310) 441-1888 FACSIMILE: (310) 441-1883 POSTAL CODE: 90024 AMENDMENT 1.1 Guarantor and Guarantee agree to increase the compensation paid by Guarantor to Guarantee in case of Seller's default (section 4.1 in the original contract) from $605,327 (RMB 5,000,000 yuan) to $1,210,000 (RMB 10,000,000 yuan). All else remains the same. 1.2 Guarantor and Guarantee agree to increase the amount of daily compensation paid by Guarantor to Guarantee in case of contract delay due to Seller's default (section 4.2 in the original contract) from $6,053(RMB 50,000 yuan) to $12,100 (RMB 100,000 yuan). They also agree to increase the amount of maximum compensation in case of contract delay due to Seller's default (same section in the contract) from $242,000 (RMB 2,000,000 yuan) to $484,000 (RMB 4,000,000 yuan). All else remains the same.