Supplemental Feed Purchase Contract
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EX-10.31 25 v130756_ex10-31.htm Unassociated Document
Exhibit 10.31
Supplemental Feed Purchase Contract
Party A: Weifang Taihong Feed Co., Ltd
Party B: Weifang Yuhe Poultry Co., Ltd
WHEREAS
(A) Party A and Party B entered into a feed purchase agreement as of January 1, 2006, pursuant to which, Party A agreed to supply to Party B and Party B agreed to purchase all necessary feed from Party A.
(B) During the period from January 1, 2006 to December 31, 2006, Party A supplied feed to Party B at RMB 1,829, approximately equivalent to US$267 per ton. During the period from January 1, 2007 to December 31, 2007, Party A supplied feed to Party B at RMB 2,141, approximately equivalent to US$313 per ton. During the period from January 1, 2008 to July 31, 2008, Party A supplied feed to Party B at RMB 2,588, approximately equivalent to US$378 per ton.
This supplemental agreement is signed on a friendly negotiation and equality basis by and between the aforementioned parties:
1. | Party A shall supply feed to Party B and Party B shall purchase feed from Party A at RMB 2,795, approximately equivalent to US$409 per ton. Subject to agreement by Party A and Party B, the foresaid price can be adjusted according to the market conditions. |
2. | Term of this contract: During the term from August 1, 2008 to December 31st, 2008, Party B shall place purchase orders in accordance with its operating demands. |
3. | Place: Weifang Taihong Feed Co., Ltd |
4. | Delivery of feed: Party A shall deliver the feed to appointed breeding farms of Party B. |
5. | Payment: The feed shall be paid for in cash or through the banking system. |
6. | Violations of this contract: In the event that Party A fails to provide feed in due time, which leads to Party B’s great loss, Party A should compensate for Party B’s losses by deducting the losses from payments of the feeds. Should Party B violates any provisions of this contract, party A can at any time stop the feed supply, or revoke this contract. |
7. | This contract shall come into effectiveness after signature by both parties. This contract is made in two original copies, with one to be held by each party. |
Party A: Weifang Taihong Feed Co., Ltd
Representatives: Wang Jianbo
Party B; Weifang Yuhe Poultry Co., Ltd
Representatives: Han Chengxiang
Date: August 5, 2008