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Exhibit 10.3
Extension Agreement
Shen Long Qing Xu Xie Zi (96) No0069
Transaction Unit: Shenzhen City Longgang District Foreign Economic
Services Company
Party A: Concord H.G. Electronic Manufacturer
Party B: Concord Camera (Hong Kong) Company Limited of Hong Kong
The original Shen Long Wai Yin Zi (086) No 507 Agreement entered by the
two parties expired on 28 October 1996. As there was good cooperation in the
discharge of the original Agreement by both parties and in order to further
expand the production development, following friendly negotiations the two
parties hereby agree to extend the terms of the original Agreement for 10 years
to 28 October 2006, with all the provisions of the original Agreement remaining
unchanged, and incorporation of the following provisions:
1. Fixed work payment adjusted to 15 Hong Kong Dollars per square
meter.
2. Labour wages Payment adjusted to 700 Hong Kong Dollars monthly per
head. Adjustment shall be made every two years thereafter along with increases
in living index.
Transaction unit: Shenzhen City Longgang District Foreign Economic Services
Representative:
Party A: Party B: Concord Camera (Hong Kong)
Company Limited of Hong Kong
Representative: Respresentative:
15 March 1996
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Approval of Agreement Extension
Shen Long Wai Yin Xu Zi 96 No 101
Approval is hereby given to the Shen Long Qing Xu Xie Zi (96) No 0069
entered between Concord H.G. Electonic Factory and Concord Camera (Hong Kong)
Company Limited of Hong Kong on 15 March 1996. All the provisions of the
original Shen Long Wai Qing (86) No 507 Agreement shall remain unchanged. The
extension is 10 years and expires on 28 October 2006.
Shenzhen City Longgang District Economic Development Bureau
15 March 1996
cc: Departments concerned
