Technical Cooperation Agreement
Party A: XX Grease Chemical Co. , Ltd.
Address: XXHigh-tech Industrial Park
Legal Representative: XXX
This Agreement, concerning the setting up of a technical research and development team, is made according to the Contract Law of PRC regulations and entered into through equal negotiation by both Parties as the free and full expression of their own wishes to mutual benefits, and to this end both Parties shall abide by this Agreement as following.
Article 1: Party A hereby agrees to employ party B as the technical consultant for the new product research and development. Party B hereby agrees to offer technical consultation service to Part A.
Article 2: Party A hereby agrees to pay Party B for the research each month, including salaries, administrative expenses, detection cost, traveling expenses and other cost associated.
Article 3：Party B is responsible to provide relevant technical and market information home and abroad and is ready to answer any technical problem frequently asked by Party A.
Article 4: Party B shall has the obligation to provide Party A with any relevant personal resume and reference documents as necessary. Party A shall respect the personal privacy of Party B and has the obligation to properly keep those materials.
Article 5: Party B hereby agrees that the intellectual property of any product as researched and developed herein shall be owned by Party A. Party B shall not be allowed to disclose any technical information concerned to the third party, or it shall take all the legal consequences.
Article 6: Both Parties agree to achieve their common goals by their close cooperation. It is planned to add one to three projects each year and to apply for one to three patents for inventions each year, to make one to two new products certified by experts each year, and to promote at least two products to the market each year.
Article 7: This Agreement is held by both Parties, one for each respectively. Any issue not mentioned in this Agreement shall be settled by both Parties through negotiation.
This Agreement shall take effect from the date of signature.
Party A Party B: