Termination Agreement for Exclusive Marketing Agreement between Trans Pacific Shipping Ltd. and Sino-Global Shipping Agency Ltd.
Trans Pacific Shipping Ltd. and Sino-Global Shipping Agency Ltd. have mutually agreed to terminate their previous Exclusive Marketing Agreement, originally signed in 2007 and amended in 2008. As of December 31, 2021, neither party is bound by the terms of the original agreement, and both are released from any further obligations or responsibilities under it. The termination is acknowledged by both parties as not constituting a breach of the original agreement.
Exhibit 10.10
Summary of English Translation of Termination of Exclusive Marketing Agreement
This Termination of Exclusive Marketing Agreement (the “Agreement”) signed by the parties at Beijing on December 31, 2021.
Party A: Trans Pacific Shipping Ltd.
Party B: Sino-Global Shipping Agency Ltd.
Whereas:
1. Both parties signed the Agreement on November 14, 2007, and amended and restated it on April 3, 2008.
2. Both parties agreed to terminate the Agreement.
Both parties agree:
Effective the date above, the Agreement is to be terminated, the parties shall not be bound by the terms of the Agreement, and shall not have the obligation and responsibility to fulfill the Agreement.
Both Parties acknowledge that this termination of the Agreement shall not breach of the Agreement.
Party A: Trans Pacific Shipping Ltd.
By:
Party B: Sino-Global Shipping Agency Ltd.
By:
