The following Memorandum of Understanding is drafted in accordance with the agreement reached by both parties in the talk held in Beijing on August 7 and 8, 2012 and September 17, 18 and the minutes exchanged by both parties from September 17, 2012 to September 24, 2012.

          以下的合作意向书是根据双方当事人于2012年8月7日和8日以及9月17日和18日在举行的会谈达成的协议，以及从2012年9月17日到9月24日双方当事人交换的会议记录起草而成。

The contents of the agreement are signed by the following both parties:

         本协议内容由以下双方签订：

Vvvvvvvvvvs (Beijing) Door Industry Co., Ltd, the registered address is No.309, No.19,South Ronghua Road, Economic and Technical Development Zone,BeijingCity.

ccccccccc（）门业有限公司 ，注册地址是市经济技术开发区荣华南路19号355555，

Legal representative:                                         , hereinafter referred to as: Beijing Company

法定代表人：                                            ，以下简称为： 公司

 

And

  和

Vvvvvvvvvv GmbH & Co. KG (Chinese name: Vvvvvvvvvv GmbH & Co. KG), the registered address is Ludwigstrasse 32, 76768 Berg, the legal representative is Hans Heinrich Berizzi, the director , general manager and shareholder, hereinafter referred to as: German Company

Vvvvvvvvvv GmbH & Co.KG（中文名称：德国ccccccccc股份有限公司 ）, 注册地址是德国贝尔格市路德维希大街32号（Ludwigstrasse 32, 76768 Berg, ） 法定代表人是海纳尔-海-贝利兹（Hans Heinrich Berizzi），董事总经理和股东，以下简称为：德国公司

 

The two parties are “partners”. Far Eastern Limited registered inGermanyis the legal consulting company appointed by the both contracting parties, which is responsible for drafting all relevant documents in building cooperation.

 此两方为“合作方”。德国注册的东源咨询有限公司 sssssssss Limited)则为协约双方所指定之法务咨询公司，负责建立合作中所有有关文件的起草。

 

Preface

 序文

 

Beijing Company is an independent legal entity company established with the natural person holding under the appointment of LANDUN and joint venture of other natural persons which is specially selling door products ofEurope in Chinese markets. LANDUN is a Chinese Group Company established inChina which is engaged in (including but not limited to) fireproof door products. LANDUN owns many production and sale bases inChina, sells and install its series of products aiming at various construction projects inChina through positioning the construction projects of the public and residential area. Currently LANDUN occupies the market shares of about 30% in the fireproof door field inChina.

          公司是由aa集团(LANDUN)委派的自然人代表控股与其他自然人合资成立的专门在中国市场销售欧洲门类产品的一个独立法人公司。aa集团是一家在中国境内设立的从事（包括但不限于）防火门产品的中国集团公司。aa集团在中国拥有很多生产和销售基地，并且通过定位公众和居民区建筑项目，在中国范围内针对各类大小的建筑项目销售和安装其一系列的产品。aa集团目前在中国的防火门领域中占有大约30%的市场份额。

           The construction market in Chinareflects the increasing demand for high-end luxurious apartments and villas, and there are special requirements and demands for luxurious high-end appliances such as (including but not limited to) residential doors and entrance doors. The total annual quantity demanded in such market is estimated to be about 50000 sets. The natural person representatives and other natural person partners appointed by LANDUN have planned to set up a company with independent legal entity in China: Beijing Company, through using the human resources and channels of distribution that LANDUN has owned, to conduct marketing management and sales to the imported doors in top grade specially aiming at Chinese markets.

中国的建筑市场反映了一个对于高端豪华公寓和别墅日益增长的需求，对豪华高端用品例如（包括但不限于）住宅门和大门有特别的要求和需求。 这样的市场每年需求总量估计大约是50000套。aa集团委派的自然人代表及其他自然人合伙人，计划通过在中国境内设立一个独立法人的公司：公司 ，通过利用aa集团已经拥有的人力资源和分销渠道，专门针对中国市场进行进口高档门的市场营销和销售。

 

          Newly set Beijing Company plans to provide door products manufactured in Germany especially for Chinese markets with the help of brands of German Company, its business connection and personnel resources developed. Its purpose is to popularize and create a long-term top-grade German brand name “VVVVVVVVVV” in Chinese markets through Beijing Company, at the same time in return, Beijing Company will receive the permanent exclusive agency for products from German Company in Chinese markets, and Beijing Company will ensure a minimum annual order quantity from German Company.

新设立的公司，计划利用德国公司的品牌和其所有的商业联系以及开发人员资源，专门为中国市场提供德国制造的门类产品。它的目的是通过公司在中国市场推广并打造一个长期的高端德国品牌名称“VVVVVVVVVV/ccccccccc”，同时作为回报，公司将获得德国公司的产品在中国市场的永久的独家代理权，对此公司将确保一个从德国公司采购的年最低订货量。

 

Beijing Company can make the products of German Company receive the market access permission from relevant department of the government and pass the fire prevention acceptance.

公司可以让德国公司的产品得到政府相关部门的市场准入许可并通过消防验收。

 

German Company is a German family firm established in 1973, and it has been the first manufacturer for faceplates of decorative doors in Germany providing services for door manufacturing industry in the whole Europe. Except Germany and France, German Company has sold aluminium doors for many years, for in these markets there have been not competitions with the existing customers. Many projects with landmark have been completed overseas, includingChina, but mostly in Middle Eastern countries and regions.

             德国公司是一家成立于1973年的德国家族企业，是德国第一家生产装饰门面板的生产商，为全欧洲的门制造业提供服务。在德国和法国之外，德国公司销售了多年的铝门，因为在这些市场与现有客户没有竞争。大量的具有里程碑意义的项目已经在境外完成，包括中国，但更多的是在中东国家地区。

            

            For manufacturer of aluminium system and customers in door product field, at the aspects of technology and design, German Company is the partner meeting high requirements and demands. The reputation of German Company on the quality and high-end products is well-known inEurope.

            对于铝系统制造商和门产品领域的客户，在技术和设计方面，德国公司是一个符合高规格要求和需要的合作伙伴。德国公司对于质量和高端产品的声誉在欧洲是众所周知的。

          

           Since 2009/2010, German Company has changed its strategy on the home market, nowadays it directly provides the whole set of entrance door product to the door traders, and only provides its advanced aluminium door system and paneling in the form of B2B. German Company only focuses on the standards with highest quality and demand in high-end markets. In 2010,German Company launched self-developed door system THERMOSECUR© based on glass and PU technology for which it owns the patent right, the product sets an exclusive standard concerning stability and heat insulation in the door product field. UD value of the system starts from 0.49 WK/m², and has been second to none so far.

          从2009/2010年以来德国公司改变了其在本土市场的战略，其现在直接提供整套大门产品给门贸易商，只以B2B方式提供其先进的铝门系统和镶板。德国公司只专注于最高质量的标准和高端市场的需求。在2010年，德国公司推出了自己研发的拥有专利权的基于玻璃和PU技术的门系统THERMOSECUR©，此产品设定了一个在大门产品领域对于稳定和隔热的独家基准。这个系统的UD值，从0.49 WK/m²开始，迄今为止首屈一指。

        

          German Company is one of the two manufacturers being able to provide paneling manufactured with traditional process in Germany, this has been proved to be successful and meet the demands in China, and German Company can provide customized products according to the special requirements of the customers for doors.

          德国公司是德国两家能提供传统手工制造的镶板的生产商之一，这已经在中国被证明是非常成功和满足需求的，而德国公司可以根据客户对门的特别需求提供定制的产品。

        

          German Company is so interested in seeking a powerful partner in China and marketing its products, in addition, it has been ready to sign exclusionary right agreement with Beijing Company based on the agreed terms and conditions.

          德国公司对于在中国寻找一个实力雄厚的合作伙伴及在中国市场营销其产品非常感兴趣，并且已经准备好在基于双方商定的条款和条件下与公司签订独家经营权协议。

        

       1) Natural person representative holding under the appointment of LANDUN and other partners will establish an independent legal entity in China: Beijing Company and the legal entity shall engage in the marketing and sales for entrance doors and interior door products manufactured byGerman Company with the German brand name “VVVVVVVVVV”.

1） aa集团委派的自然人代表控股与其他合伙人将会在中国境内成立一个独立的 法人实体: 公司 ，而这个法人实体应该以德国品牌名称“VVVVVVVVVV/ccccccccc”从事德国公司生产的大门和室内门产品的市场营销和销售。

 

       2) All products of German Company that are sold by Beijing Company must be manufactured by German Company or manufactured by the third party which is approved through the written authorization by German Company in advance so as to conduct sales with German brand name ”VVVVVVVVVV”. The description of selected products will be listed in Appendix A of the Memorandum of Understanding.

2） 所有由公司销售的德国公司的产品必须由德国公司生产或者是由德国公司预先书面授权核准的第三方生产，以便能以德国品牌名称“VVVVVVVVVV/ccccccccc”进行销售。被选择产品的说明将在本合作意向书的附录A中列出。

 

3) Specific use of German brand name and products sold with the brand name shall accord with the provisions of Article (X) in the Memorandum of Understanding.

3） 德国品牌名称的具体使用和以这个品牌名称销售的产品应符合本合作意向书的条款 (X) 规定。

 

       4) Beijing Company shall be granted with the exclusive agency for permanent sale and distribution for products of German Company inChina. The terms and duration time of the exclusive selling right shall accord with the provisions of Article (X) in the Memorandum of Understanding.

4）公司应该被授予德国公司的产品在中国范围内的永久的销售和分销的独家代理权。这个独家经销权的条款和持续时间应符合本合作意向书的条款  (X) 规定。

 

       5) Beijing Company can not distribute and sell the imported doors from other manufacturers, unless otherwise that certain specific product type is required by customers, and in the product series of German Company there is no this type of product.

5）公司不能分销和销售其它生产商的进口门，除非某一个特定的产品类型被客户要求，而德国公司在其产品系列中又没有此类产品。

 

       Under the circumstance, Beijing Company shall submit the demands for this type of doors to German Company through written requirement, and provide German Company three months for manufacturing or purchasing this type of products.

       这种情况下，公司应该通过书面要求向德国公司提交此类门的需求，并且给德国公司三个月时间去生产或者采购此类产品。

     

      Provided that German Company thinks that it can not provide such type of products after three months, it must make reply when receiving the written demand from Beijing Company. Beijing Company can meet the demands of its own customers through purchasing such type of products from a third party. However, it shall not purchase products with same type from the third party to replace the products of German Company.

      假使德国公司认为在三个月后不能提供此类产品，必须在接到公司的书面需求时做出回复。公司可以通过从第三方采购此类产品去满足自己的客户需求。但是不能向第三方采购相同类型的产品来代替德国公司的产品。

     

      Provided that the products purchased from the third party need to be sold and popularized with the German brand name “VVVVVVVVVV”, the permission of German Company shall be firstly received, and the provisions of Article (X) in the Memorandum of Understanding shall be met.

假如从第三方采购的产品需要以德国品牌名称“VVVVVVVVVV/ccccccccc”销售和推广，应当先得到德国公司的许可，并符合本合作意向书的条款  (X)之 规定。

 

       6) In return for obtaining the permanent access for German brand name “VVVVVVVVVV” and exclusionary right for the products in China,Beijing Company can promise a minimum annual order quantity from German Company which is hereinafter referred to as “quantity” under the guarantee of receiving the reasonable and competitive product price, product category and supply support adapting to Chinese markets from German Company.

6）作为获得中国区域的德国品牌名称“VVVVVVVVVV/ccccccccc”永久使用权和产品的独家经营权的回报，公司在得到德国公司合理的有竞争力的产品价格以及适合中国市场的产品种类及供货支持保证下，可以承诺一个每年向德国公司的最低订货数量，以下将简称为“数量”。

 

            As the first year after cooperation, year of 2013 is the preliminary promotion period for the brand and market-perceived period for products, the quantity of market sale can not be known beforehand, so there is no commitment for the sales volume. From the second year of the cooperation namely 2014, the following sales volume (being subject to the total volume of all types, and the actual sales volume is allowed to lower 20% according to the total quantity) is as guarantee:

2013年作为合作后的第一年，为品牌的初步推广期和产品的市场认知期，市场销售的数量无法预知，因此不做销量的承诺。自合作的第二年即2014年起，有以下的销量（各类型总量合计为准，实际销量允许按总量下浮20%）作为保证：

 

a) In 2014 the quantity of 1000 entrance doors is used for villa and apartment, according to Appendix A

a)      2014年1000个大门的数量用于别墅和公寓，根据附录A

 

b) In 2015 the quantity of 5000 entrance doors is used for villa and apartment, according to Appendix A

b)      2015年5000个大门的数量用于别墅和公寓，根据附录A

 

c) In 2016 and later annually the quantity of 10000 entrance doors is used for villa and apartment, according to Appendix A

c)      2016年和之后每年10000个大门的数量用于别墅和公寓，根据附录A

 

       7) Beijing Company can decide by itself whether to expand the product scope of wood entrance doors and interior decorative doors. German Company must select the qualified manufacture suppliers located in Europe for Beijing Company to provide corresponding products for Beijing Company, and shall provide all relevant details according to the requirements.

7）公司可以自行决定是否拓展木质的大门及室内装饰门的产品范围。德国公司必须为公司选择位于欧洲的合格的生产供应商，为公司提供相应的产品，并应根据要求提供所有相关的细节。

 

8) Provided that there are extra products on sale which need purchase from the third manufacturer, in case that they are referred to in Article 7) or other articles, and if the purchase quantity exceeds 500000 Euros annually,Beijing Company and German Company agree that they will establish an independent new company in Germany, and the sole purpose is to conduct trade of such type of products from the third party.

8）假如有需要向第三方制造商采购的额外产品出售，如在条款7)或其它条款提及的，并且如果采购量超过每年50万欧元，公司和德国公司同意将在德国成立一间独立的新公司，其唯一目的是进行此类第三方产品的贸易。

 

             a) The new company shall be established in the form of limited liability company according to German laws if required. And Beijing Companyshall hold the shares of the new company 70% at most or no less than 51%, other shares are held by German Company.

a)   此新公司，如果有需要，应该根据德国法律以有限责任公司的形式成立。而公司应持有最多70%或不低于51%的新公司股份，其余股份由德国公司持有。

 

b) The new company (provisional name: Germany Vvvvvvvvvv International Co., Ltd, hereinafter referred to as New Company) shall set a rate of margin to ensure that the net profit margin after all relevant costs are deducted is no lower than 5%.

b)   新公司（暂定名称：德国ccccccccc国际有限公司，以下简称新公司），应该设定一个毛利率 以确保扣除所有相关成本后的净利润率不低于5%。

 

c) As to the products of the third party that the New Company supplies toBeijing Company with the brand name of “VVVVVVVVVV” sold in China, theNew Company pays the charges for use of brand name of German Company in the form of a certain number of stock rights. Namely when the New Company is established, a certain number of stock rights replace the charge for use of brand (document provisions are separately attached).

c)   此 新公司以“VVVVVVVVVV/ccccccccc”品牌名称供货给公司在中国销售的第三方产品，新公司以一定数量股权的形式支付给德国公司品牌名称的使用费。即在新公司成立时，以一定数量的股权代替品牌使用费（另附文件规定）。

 

d) German Company is mainly responsible for daily operation and management of the New Company, and periodically reports to Beijing Company. Beijing Company can assign corresponding representatives of managers when necessary. For instance: the New Company seeks the qualified manufacturers according with product demands of Beijing Company under the guidance and supervision of Mr. Berizzi from German Company, organizes quality management system, ensures long-term price level through contract negotiation, and involves all other problems to ensure quality and promise the foundation of the long-term supply of the products.

d)      德国公司主要负责此新公司的日常经营和管理，并且向公司定期汇报。公司认为必要可以派出相应的管理者代表。例如：新公司在德国公司 Berizzi先生的指导和监督下寻找符合公司的产品需求的合格的生产厂家，组织质量管理体系，合同谈判保证长期价格水平，并且介入所有其它问题，确保质量和保证产品的一个长期供应的基础。

 

 

 9) The Beijing Company shall self organize the marketing activity, exhibition, permanent exhibition hall and other relevant marketing activities about the sales of  products of brand “VVVVVVVVVV” in Chinese  market so as to achieve the agreed expected sales target which targets at Chinese market. The Beijing Company will bear all possible correlative charges generated by these activities.

       9）公司应自行组织关于“VVVVVVVVVV/ccccccccc”品牌名称的产品在中国市场的市场营销活动、展览会、永久展厅和所有其它相关的销售活动。以确保能够达到约定的针对中国市场的预期销售目标，所有可能产生的相关费用由公司承担。

               a) The purchasing activity of products manufactured byGerman Company shall be executed with the German Company directly.

               a)  采购德国公司的产品应直接和德国公司进行。

               b) Except for the products described in Article 8, neither the German Company nor the other third party has right to enjoy the disclosure fee, commission or bonus.

             b) 除第8条款描述的豁免产品以外 ，无论是德国公司还是其它第三方都应无权享有特许权使用费、佣金和奖金。

            c) The product prices of German Company and prices of third parties’ products supplied by German Company to Beijing Company shall be the price free of commission at any time. In addition, such price shall be the factory price of German Company at any time and shall be lower than the market price inGermany.

               c) 德国公司的产品价格及由德国公司提供的第三方产品价格应在任何时候给予公司 的是免佣金价格，且在任何时候都应该是目前德国公司在德国的出厂价格，应保证低于德国的市场售价。

      10) The German Company shall supply following contents and take all of the possible costs.

10）德国公司应当提供以下内容，并且所有可能产生的费用由德国公司承担：

       a) All necessary relevant supports, but doesn’t limit to the enterprise correspondence of brand names, stipulated contents according to Article (X), including electronic name cards and all relevant documents.

     a) 所有必要的相关支持，但不限于，品牌名称的企业对应性，依据 (X)条款规定之内容 ，包括电子版的名片和所有相关的文件。

     b) The category of door types and models agreed by Beijing Companyfor selling and such kind of category must be attached with printable electronic edition so as to facilitate the category printing by Beijing Company inChina.

      b) 由公司同意销售的门的类型和模型的目录，而此类目录必须提供可印刷的电子版，以供公司在中国印刷目录。

      C) Developing of door model in design aspect

      C)门模型的设计方面的开发

 

     d) Technical support, research and development about new techniques and most significant access control system

      d) 对于新技术和最重要访问控制系统的技术支持和研发

      e) The training of sales personnel, technique and installation personnel from Beijing Company inChina or Training conducted inGermany according to agreements.

      e) 公司的销售人员，技术人员，安装人员在中国的培训，或者根据协议在德国培训

      f) Arrangement and design of representative office of German Company inChina, exhibition hall and stand in the exhibition.

      f) 德国公司驻中国代表处办公室，展厅和展会展位的布局与设计

      g) Sufficient showing samples such as technical sample, material sample, sample corner and so on about doors.

      g) 足够数量的门的技术样品、材料样品、样品角等展示样品。

      h) Sales software, such as shown (a kind of software) and update these software regularly, in which includes all products.

      h) 销售软件，如shown(软件)，定期更新，包括所有产品

      i) Independent item design for custom design beyond the standard range and it requires for 20 doors to make an individual item.

       i)  给不在标准范围的定制设计做的单独项目设计，单个项目要求有20个门的数量起做

       i) The personal representative of managing director or sales manager in German Company takes part in selected activities.

       j) 德国公司董事总经理的个人代表或销售经理在中国参加选择的活动

       k) Technical after-sales service and relevant staff training ofBeijing Company

       k) 技术售后服务和相关的公司的员工培训

L) The German Company must meet the order requirements of Beijing Company and gives promises in aspects of designing, production, product quality and time of supply the orders.

       L）德国公司必须满足公司 的订单需要，给予设计、生产上的保证，保证产品质量，保证供货时间。

       11) From the date on which the Memorandum of Understanding is signed, German Company shall forgo any direct sales, marketing management or connection with newly developed customers directly in China; what’s more, it shall transfer all of direct contact information to Beijing Company.

11）从签署本合作意向书之日起，德国公司应放弃在中国境内任何直接销售，市场营销或直接和新开发客户的联系，并且应将任何直接的联系方式转移给公司。

        12) The German Company shall expand its website to add Chinese version, no matter such addition is realized by direct addition or linking to visit its current website. The Chinese contents in website shall be negotiated by both parties, in which shall includes the company history and outstanding achievement of German Company. 

12）德国公司应拓展其网站增加中文版本，无论是直接的还是通过链接访问现有的网站。网站的中文内容应经过双方商定，还应包含德国公司的公司历史和业绩。

       13) The Beijing Company can use the “VVVVVVVVVV” brand name and name of representative office of German Company in China during its distribution of products manufactured by German Company. But all of the rights and permissions shall be conformed to stipulations in Article (X).

       13）公司可以在经销德国公司产品时使用“VVVVVVVVVV/ccccccccc”品牌名称和“德国公司驻中国代表处”的名称，然而任何权利或许可应符合本合作意向书的条款 (X)之 规定。

      14)  During the publicity and distribution of “VVVVVVVVVV” brand name in Chinese market, Beijing Company can appear in the market in form ofGerman Company’s direct subsidiary or branch office. The Beijing Companywould bear all the obligation of any possible consequence at any time, either the legal consequence or damages to the brand in any way, therefore, it shall prevent any negative effect from appearing with responsible behaviors.

14）公司在中国市场进行“VVVVVVVVVV/ccccccccc”品牌名称的宣传和营销工作时，可以以德国公司直接子公司或分公司的形式出现。公司应在任何时候都对可能产生的任何后果承担责任，无论是法律后果还是任何方式对品牌的损害，因此应以负责任的行动避免产生任何负面影响。

15)  The matters of establishing representative office of German Companyin China shall be undertaken by German Far Eastern Limited directly and the Far Eastern Limited would also responsible to connect German Company, supply the required materials of German party and draft documents required by Chinese approval authority. All the relevant costs required for establishing representative office of German Company in China shall be examined and verified by Beijing Company in advance and could be paid by Beijing Company first, finally the costs will be paid by both parties in ratio of 1:1. The 50% of the costs will be paid by German Company after Beijing Company submitting bill to the former in form of sales costs.

15) 德国公司驻中国代表处的成立事宜应 由德国东源咨询有限公司直接负责. 并负责联络德国公司，提供所需的德方资料，起草中国审批机构所需文件。成立德国公司驻中国代表处所有相关费用需要公司预先审核认可，可以先由公司支付。最终中德双方各承担50%。此费用之50%将由公司今后以营业销售的支出向德国公司提交账单由其支付。

      16) The products listed in Attachment A may be fireproof product. For instance, the fire test shall be executed by Beijing Company so as to acquire the necessary local certificates. Its door products are required to conduct such kind of tests, the certificates shall be supplied by German Company.  If it needs relevant personal in Chinese party to check and verify in German factory etc in order to acquire the certificates issued by government, German Company has to supply necessary supports until passing the verification.

        16 列在附录A中的产品可能是耐火的。例如耐火测试应由公司在中国进行，以取得本地必要的证书资质。门产品需要进行此类测试，应该由德国公司免费提供。如果因为取得政府颁发的资质证书，需要中方相关人员去德国工厂考核验证等工作，德国公司必须提供必要的支持，直到通过验证。

        17)  In matters of brand name “VVVVVVVVVV” and its usage, rights and duty, obligation, registered company name etc, both parties agree that German Far Eastern Limited and authorized German law office Taylor Wessing draft an agreement separately according to the Memorandum of Understanding before October 15, 2012 and submit to Beijing Company and German Companyto discuss. The fees of law office will be paid by Beijing Company andGerman Company in ratio of 1:1, and it needs submitting costs plan toBeijing Company for checking and verifying in advance. Such costs will be paid by German Company first and then paid by Beijing Company and German Company in ratio of 1:1 after the finishing of lawyer service required for the agreement.

17） 双方同意就品牌名称“VVVVVVVVVV/ccccccccc”和它的使用、权利及职责、义务、注册的公司名称等事宜, 通过德国东源咨询有限公司及委托德国律师事务所Taylor Wessing 于2012年10月15前，根据此合作意向书另行起草协议，并交予公司与德国公司进行讨论。律师事务所之费用由公司与德国公司各承担50%，且需要提前提交费用计划书经过公司确认。此费用先由德国公司支付，待此合作协议所需的律师服务完成后，由公司向德国公司支付50%。

         18) Both parties know that Beijing Company will make a huge investment to carry out marketing management and sales activities and German Company will invest step by step to expand its production facility according to the increasing order quantity in Chinese market so as to meet the demands of market orders.

18）双方都知道，公司将投巨资用于进行市场营销和销售的活动，德国公司将根据中国市场的订单量的增加逐步投资扩大生产设施，以便能够满足市场订单的需求。

     a) The legal term of contract of both parties shall not be shorter than 5 calendar years and the earliest termination time of contract shall be in year of 2018 then it is a contract term per 5 years. Under the condition that Beijing Company hasn’t violated any binding article, the contract will postpone automatically when coming to the expiration of contract. Any party is not allowed canceling the cooperation after the contract expires.  In light of the agreement, Beijing Company enjoys the perpetuity of German brand “VVVVVVVVVV” in Chinese market. Under the condition that Beijing Company hasn’t defaulted and German Company cancels the cooperation, the perpetuity of German brand “VVVVVVVVVV” in Chinese market will be transferred to Beijing Company with1 USD.

a)  双方的法律合同期限应不低于5个日历年，而最早的合同终止时间应该在2018年，之后每5年为一个合同期限。在公司不出现违反约束条款内容的情况下，合同到期后应自动顺延，任何一方不得在合同期满后取消合作。根据协议，公司拥有德国品牌名称“VVVVVVVVVV/ccccccccc”在中国市场的永久使用权。在公司没有违约的情况下，如果德国公司取消合作，则德国品牌名称“VVVVVVVVVV/ccccccccc”在中国市场的永久使用权将以1美元的价格转让给公司。

b) Provided that German Company cancels the cooperation in 2018 or any time after 2018, Beijing Company will be granted to take over the right of name and all other rights of German brand “VVVVVVVVVV”(only in China).

b)  假如德国公司在2018年或者之后任何时间取消这个合作，公司应被赋予接管关于德国品牌名称“VVVVVVVVVV/ccccccccc”（仅限于中国境内）的名称权和其它所有的权利。

c) Provided that Beijing Company cancels the cooperation within 5 years after signing the contract, Beijing Company will pay a sum of cancellation charge to invest German Company as invalid assets and the total amount is _______________________, and the brand’s right of name will be reserved and returned to German Company according to stipulations in Article 17.

c) 假如公司从签署合同起5年内取消这个合作，公司应支付一笔取消费用作为无效资产投资给德国公司，总金额为_______________________，而品牌名称权根据第17条款规定应保留并归还给德国公司。

d) From 2016, Beijing Company is given a right of choice and it could become the partner of German Company by purchasing stocks of German Company. The choice shall restrain that the maximum equity purchased from the company shall be 40% or less that, and such kind of participation shall be on the basis of dormancy participation method. Such kind of German Company equity can only sell back to German Company itself.  The appraisal sale price of the equity must receive responsible investigation.

d) 从2016起，公司应被赋予一个选择权利，其可通过购买德国公司股份的方式成为德国公司的合作伙伴。此选择应被限制为可购买最多40%或者以下份额的公司股份，而此类参股应建立在通过休眠参股的方式。此类德国公司股份只能卖回给德国公司本公司。此类股份的评估销售价格必须执行尽职调查。

        19）本合作意向书一旦双方同意并签署，应该被移交律师事务所用于草拟一份中英双语的合同，并受各自国家的法律支配。这种合同应当包括仲裁条款，而仲裁方由双方选择并同意。它的目的是基于双方的相互信任，公司和德国公司双方建立一个长期的商业关系。如果本合作意向书中的任何内容不能合法的被合同体现，负责的律师请强调出此类内容并提供一个符合双方意向的草案，便于让双方达成和解协议。所受委托的律师事务所必须保证公平公正，保证中德双语合同条款内容及意义完全一致。

         19) Once the Memorandum of Understanding has been agreed and signed by both parties, it shall be transferred to law office to draft a Chinese-English bilingual contract and are governed by laws in respective countries. The contract shall include arbitral articles and the arbitration party will be selected and agreed by both parties. It aims to set up a long-term business relation between Beijing Company and German Company on the basis of both parties’ mutual trusts. In case that any content of the Memorandum of Understanding couldn’t be legally reflected in the contract, lawyer who takes charge shall emphasize such contents and supply a draft which conforms to both parties’ intentions so as to facilitate both parties conclude a settlement agreement. The authorized law office must guarantee fair and square and make sure the absolute accordance of contents and meanings of Chinese and German article s.

          20) Article of Contract Termination (require supplementation)

20)  合同中止条款（需要补充）

21) The Memorandum of Understanding and agreement will be written in Chinese and English and it must guarantee that the contents and meanings of articles written in Chinese and English are in absolute accordance. In case that there are various interpretations due to text explanations, the Chinese version will be taken as standard for matters under Chinese jurisdiction and the English version will be standard for matters beyond Chinese jurisdiction.

21）此合作意向书及协议将用中英文书写。必须保证中英文条款及意义完全一致。当由于文字解释产生歧义时，属于中国管辖的以中文为准，属于中国以外管辖的以英语为准。

___________________                                                      ____________________

              Beijing Company                                                                   German Company

公司                                                      德国公司