Corn Kernels Purchase Agreement between Shandong Xiangrui Pharmacy Co., Ltd. and Ji’nan Jinliang Grains Storage Co., Ltd. dated April 1, 2011

Summary

This agreement is between Shandong Xiangrui Pharmacy Co., Ltd. (purchaser) and Ji’nan Jinliang Grains Storage Co., Ltd. (supplier) for the purchase of 30,000 tons of corn at 2,200 RMB per ton, totaling 66,000,000 RMB. The corn must meet national quality standards, with water content not exceeding 16%. Delivery is the supplier’s responsibility, and payment is due upon receipt. The agreement is effective from April 1, 2011, to December 31, 2011. Disputes will be resolved amicably or in the purchaser’s local court.

EX-10.23 21 c19486exv10w23.htm EX-10.23 exv10w23

10.23 Corn Kernels Purchase Agreement, dated April 1, 2011, between Shandong
Xiangrui and Ji’nan Jingliang Grains Storage Co., Ltd.

Supplier: Ji’nan Jinliang Grains Storage Co., Ltd.

Purchaser: Shandong Xiangrui Pharmacy Co., Ltd.

Execution Site: Dongping, Shandong;
Execution Date: April 1, 2011

1. the type, class, weight, price and delivery of the grain

Price for

Type

Class

Unit

weight

each ton

Total Price

Delivery

Corn

ton

30000

2200

RMB 66,000,000

—

2. Standard of quality

If content of water shall not exceed 16%, otherwise each half a kilo of corn will be withhold for each exceeding 1%. Other standard shall follow the national standard.

3. Testing

The testing shall be held in the warehouse of the purchaser.

4. Delivery

The supplier shall be responsible for all the fees and charges of delivery. And the purchaser shall make the payment when receive the corn.

5. Dispute resolution

Both parties shall resolve the dispute friendly, or the court of the purchaser shall have jurisdiction over the dispute.

6. Miscellaneous

The Agreement shall take effect since both parties execute this Agreement. The term of the Agreement is from the execution date to December 31, 2011.

Execution:

Supplier: Ji’nan Jinliang Grains Storage Co., Ltd.

Purchaser: Shandong Xiangrui Pharmacy Co., Ltd.