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DATED June 6,2012Beijing Weinuo Trade Co. Ltd. And Rolex Watches and Clocks Co. LtdLICENSE AGREEMENTSALES CONTRACT Contract : The first time of negotiation between Beijing Weinuo Trade Co. Ltd. and Rolex Watches and Clocks Co. Ltd. Date: June 6,2012 Signed at: Peace Hotel 108 Zhaohui RoadSellers: Rolex Watches and Clocks Co. Ltd.Address: Rue Francois-dussaud 26 3-5-7 1211 Geneva Switzerland.Tel:+41 22 302 22 00 Fax:+41 22 300 22 55 E-mail: Buyers: Beijing Weinuo Trade Co. Ltd.Address: 35 Jianguo Road Beijing P.R ChinaTel: 010- Fax: E-mail: This Sales Contract is made by and between the Sellers and the Buyerswhereby the Sellers agree to sell and the Buyers agree to buy the undermontioned goods according to the terms and conditions stipulated below: Name ofcommodityQuantity Unit price Total Amount Rolex watch GMTMASTER1 000 PiecesUSD 12000 per pieceTwelve Million US Dollars only Rolex watch YACHTMASTER500 PiecesUSD 11000 per piece Fifty five hundred thousand US Dollars onlyTotalvalue:USDPacking: unique characteristic of the original box packaging. Make the blue as fundamental key. Be waterproof, shockproof, and antimagneticCountryoforigin:Switzerland.Termsofpayment:15% by letter of credit and the balance by CIFInsurance:Insure F. P. A., clash and breakage, insurance and freight are 50 dollars in total.CIF: Insurance to be covered by the Sellers for 110% of the invoice value against W.P.A / All Risks / War Risk including shortage in weight as per and subject to the Ocean Marine Carge Clauses of the Peoples Insurance Company of China dated Jan. 1, 1981. If other coverage or an additional insurance is required, the Buyers must have the consent of the Sellers before shipment, and the additional premium is to be borne by the Buyers.Commission:USD12 per 100 Pieces CIF New York.No price adjustment shall be allowed after conclusion of this contractTermsofshippment: Time of Shipment: during June./July. 2012 in two equal monthly lots Term of shippment:by ship Port of loading / shipment : Berne,Switzerland Port of destination: Shanghai,China The carrying vessel shall be provided by the buyers. Partial shipment and transshipment are allowed. After loading is completed, the seller shall notify the buyers by cable of the contract number, name of commodity, name of the carring vessel and date of shipment.Delivery Terms Certificates of Quality, Quantity, Weight and Qrigin are required. The Buyers have the right to have the goods reinspected by the Shanghai EntryExit Inspection and Quarantine Bureau of the Peoples Republic of China at the prt fo discharge. The relevant Inspection Certigficates may serve as the basis of any claim to be lodged by the Buyers against the Sellers. Commodity Inspection It is mutually agreed that he Certificate of Quality and Weight issued by-( eg: China Entry-Exit Inspection and Quarantine Bureau ) / surveyor at the port of shipment shall be ( taken as the basis of delivery. ) / part of the documents to be presented for negotiation under the relevant weight of the cargo. The reinspection fee shall be borne by the Buyer. The claim with the cargo, if any, shall be lodged to the Seller within -days after arrival of the cargo at the port of destination. Discrepancy and Claim Any claim by the Buyers regarding the cargo shall be supported by survey report issued by a surveyor approved by the Seller and lodged within 45 days after the arrival of the cargo at the port of destinaton. The Seller will not consider claims in respect of matters within responsibility of insurance company or shipping company. Quality / Quantity Discrepancy and Claim: In case the quality and/or quantity / weight are found the Buyers to be not in conformity with the Contract after arrival of the goods at the port of destination, the Buyers may lodge claim with the Sellers supported by survey report issued by an inspection organizaiton agreed upon by both parties, with the exception, however, of those claims for which the insurance company and/or the shipping company are tobe held responsible. Claim for quality discrepancy should be filed by the Buyers within 30 days after arrival of the goods at the port of destination, while for quantity/weight discrepancy claim should be filed by the Buyers within 15days after arrival of the goods at port of destination. The Sellers shall, within 30 days after receipt of the notification of the claim, end reply to the Buyers.Validity of Claim The Buyers have the rihgt to lodge claims for all losses sustained within 60 days after discharge of the goods at the port of destination.Force Majure The Seller shall not be held responsible for late delivery or nondelivery of the goods due to flood, fire, earthquake, snowstorm, drought, hailstorm,hurricane, or other events that are beyond the control of the Seller. But the Seller shall notify the Buyer by cabel as soon as possible and give the Buyer a certificate by6 registered mail issuedd by the China Council for the Promotion of International Trade or other competent authorities. If shipment of the contracted goods is prevented or delayed in whole or in part due to Force Majeure, the Sellers shall not be liable for nonshipment or late shipment of the goods under this Contract. However , the seller shall notify the Buyers by fax or tele
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