Exhibit 10.14
FORM OF TENANCY AGREEMENT ZHONGYIN TOWER
(Summary Translation)
Lessor ("PARTY A"): Shenzhen Fangsheng Automobile World Management Co., Ltd.
Address: Rooms 1612 & 1615, Block B, Zhongyin Tower, Caitian North Road,
Futian District, Shenzhen
Legal representative: Yu Rong
Lessee ("PARTY B"): Shenzhen GrenTech Co., Ltd.
Address: 9th Floor, East Block, Building 3, Saige Science & Technology
Park, Futian District, Shenzhen
Legal representative: Gao Yingjie
In accordance with the Shenzhen Special Economic Zone Provisions on Tenancies
and the implementation rules thereof, the parties hereby enter into this
Agreement through mutual negotiation.
Section I Party A agrees to rent the premises located at 16/F, Block B,
Zhongyin Tower, Caitian North Road, Futian District, Shenzhen
(the "PROPERTY") to Party B. The Property has a gross floor area
of 1,433.35 square meters.
Section II The term of the tenancy hereunder shall commence from [date]
and end on [date].
Section III The Property shall be used for office purposes.
Party B shall obtain Party A's permission in writing if it wishes
to use the Property for any other purpose and shall apply for any
necessary approval for the change of use in accordance with
relevant laws and regulations. Party B shall also ensure that the
Property complies with firefighting regulations.
Section IV Party A warrants that the stipulated use of the Property herein
is in compliance with the relevant laws and regulations.
Party B undertakes that its tenancy of the Property will be
conducted in compliance with the relevant laws and regulations.
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Section V An overall internal decoration was carried out by the Zhongyin
Property Management Company, the manager of the Property, to the
Property in 1998 with an aggregate cost of RMB 1,700,000. The
Property includes furniture, air-conditioners, computers, copy
machines and acoustic devices with an aggregate value over RMB
1,000,000 for Party B to use.
Section VI During the tenancy hereunder, Party A shall be liable to pay
property tax, land use fees and property tenancy management fees;
and Party B shall be liable to pay utility charges and the
Property management fees.
Section VII Party B hereby agrees to pay Party A a monthly rental payment for
the Property in the amount of RMB [amount], with the aggregate
annual rental payments being RMB [amount].
Section VIII Party A shall ensure the security of the Property and the
internal facilities and ensure that they comply with the relevant
laws and regulations.
Party B shall use the Property in a normal manner and take care
of all facilities and prevent them from damages, usual wear and
tear excepted.
Upon the expiration of the tenancy hereunder, Party B shall
return the Property to Party A with the Property and the internal
facilities in a good condition except normal wear and tear and
with its costs and expenses during the tenancy herein properly
paid or settled.
Section IX If Party A will transfer all or part of the Property during the
tenancy hereunder, Party A shall give Party B one-month prior
notice, and Party B shall have priority in the tenancy or
purchase, as the case may be, over other potential tenants or
purchasers under similar terms and conditions.
Section X Any dispute between the parties hereto in relation to the
performance of this Agreement shall be settled through
negotiation; failing which, either party may submit the dispute
to Shenzhen Arbitration Commission for arbitration.
Section XI This Agreement shall be executed in two counterparts and each
party holds one counterpart.
Section XII This Agreement shall come into effect as of the date of signing.
PARTY A: Shenzhen Fangsheng Automobile World Management Co., Ltd.
Representative:
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PARTY B: Shenzhen GrenTech Co., Ltd.
Representative:
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Date: [specify date]
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