EX-10.11 41 a2155511zex-10_11.htm EXHIBIT 10-11

Exhibit 10.11

 

Shenzen Lease Agreement

(English Language Summary)

 

Name of Lease:

 

Shui Hing Manufacturing Factory Lease Agreement

 

 

 

Parties to Lease:

 

Warner Shui Hing Limited
and
Bogang Economic Development Company

 

 

 

Date of Lease:

 

January 1, 2003

 

 

 

Termination Date of Lease:

 

December 31, 2005

 

 

 

Location/ Property Leased:

 

Songshan Industrial Zone, Bogang Village.
Shajing Town, Baoan District
Shenzhen City
Guangdong Province
PRC

 

 

 

Size of Space:

 

Factory Area: 

4,742.3 m2

 

 

Dormitory Area:

1,952.3 m2

 

 

 

Payments:

 

$ 7,832 per month

 

 

 

Right to Terminate:

 

Termination upon 3 months notice to landlord and payment of charges until end of rental period.

 

 

 

Option to Extend:

 

Upon the agreement of the parties the lease may be extended upon terms similar to those contained herein. Warner Shui Hing Limited shall have a first right to enter into negotiations with the landlord for the leased space.

 

 

 

Transfer or Assignment:

 

Not addressed in the lease.

 

 

 

Uses allowed:

 

Operation of a machining factory and assembly of mechanical and plastic parts.