Everest Resources Corp. - FORM 8-K - EX-10.1 - TERMINATION AGREEMENT - December 31, 2009

Attached files

file filename
8-K - FORM 8-K - Everest Resources Corp.f8k1209_convenant.htm
EX-2.1 - SHARE EXCHANGE AGREEMENT - Everest Resources Corp.f8k1209ex2i_convenant.htm
EX-2.2 - ARTICLES OF EXCHANGE - Everest Resources Corp.f8k1209ex2ii_convenant.htm
EX-4.1 - SPECIMEN STOCK CERTIFICATE - Everest Resources Corp.f8k1209ex4i_convenant.htm
EX-3.(II).2 - AMENDMENT TO THE BYLAWS - Everest Resources Corp.f8k1209ex3ii_convenant.htm
EX-10.5 - RESIGNATION LETTER FROM MOHAN SINGH - Everest Resources Corp.f8k1209ex10v_convenant.htm
EX-16.1 - LETTER FROM MANNING ELLIOTT LLP - Everest Resources Corp.f8k1209ex16i_convenant.htm
EX-3.(I).2 - CERTIFICATE OF AMENDMENT TO THE ARTICLES OF INCORPORATION - Everest Resources Corp.f8k1209ex3i2_convenant.htm
EX-10.6 - PROMISSORY NOTE - Everest Resources Corp.f8k1209ex10vi_convenant.htm
EX-10.2 - SHARE CANCELLATION AND LOAN AGREEMENT - Everest Resources Corp.f8k1209ex10ii_convenant.htm
EX-10.4 - STOCK ACQUISITION AND REORGANIZATION AGREEMENT - Everest Resources Corp.f8k1209ex10iv_convenant.htm
EX-99.1A - AUDITED FINANCIAL STATEMENTS, TOGETHER WITH NOTES TO FINANCIAL STATEMENTS, OF CHONGQING SYSWAY FOR THE YEARS ENDED DECEMBER 31, 2008 AND 2007 - Everest Resources Corp.f8k1209ex99ia_convenant.htm
EX-99.1B - AUDITED FINANCIAL STATEMENTS, TOGETHER WITH NOTES TO FINANCIAL STATEMENTS, OF HAINAN JIEN FOR THE YEARS ENDED DECEMBER 31, 2008 AND 2007 - Everest Resources Corp.f8k1209ex99ib_convenant.htm
EX-99.4 - UNAUDITED PRO-FORMA COMBINED FINANCIAL STATEMENTS OF COVENANT HOLDINGS AND EVEREST AS OF SEPTEMBER 30, 2009 AND DECEMBER 31, 2008 - Everest Resources Corp.f8k1209ex99iv_convenant.htm
EX-99.3 - UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS, TOGETHER WITH NOTES TO CONSOLIDATED FINANCIAL STATEMENTS, OF COVENANT HOLDINGS FOR THE PERIOD FROM INCEPTION THROUGH SEPTEMBER 30, 2009 - Everest Resources Corp.f8k1209ex99iii_convenant.htm
EX-99.2A - UNAUDITED CONDENSED FINANCIAL STATEMENTS, TOGETHER WITH NOTES TO CONDENSED FINANCIAL STATEMENTS, OF CHONGQING SYSWAY FOR THE SIX MONTHS ENDED JUNE 30, 2009 AND 2008 - Everest Resources Corp.f8k1209ex99iia_convenant.htm
EX-99.2B - UNAUDITED CONDENSED FINANCIAL STATEMENTS, TOGETHER WITH NOTES TO CONDENSED FINANCIAL STATEMENTS, OF HAINAN JIEN FOR THE SIX MONTHS ENDED JUNE 30, 2009 AND 2008 - Everest Resources Corp.f8k1209ex99iib_convenant.htm
EX-10.3 - STOCK ACQUISITION AND REORGANIZATION AGREEMENT - Everest Resources Corp.f8k1209ex10iii_convenant.htm
Exhibit 10.1
 
TERMINATION AGREEMENT

This TERMINATION AGREEMENT (this "Agreement") is entered into as of December 24, 2009 (the “Effective Date”), by and between GARY SIDHU ("Sidhu") and EVEREST RESOURCES CORP., a Nevada corporation ("Everest" and collectively with Sidhu, the “Parties”).

WHEREAS, Sidhu has executed a declaration of trust, dated July 8, 2007, wherein he has agreed to hold for Everest and deliver title to Everest, on Everest’s demand, a certain mineral claim upon 471 contiguous acres of Crown mineral lands located in British Columbia, Canada recorded in Sidhu’s name and granted by the province of British Columbia in June 2006 (the “Mineral Right”) (the “Declaration of Trust”); and

WHEREAS, the Parties now wish to terminate the Declaration of Trust executed by Sidhu for the benefit of Everest.

NOW, THEREFORE, in consideration of the premises, and the mutual covenants and agreements contained herein, the Parties do hereby agree as follows:

The Parties hereby terminate the Declaration of Trust.  Upon such termination, Everest shall waive any and all rights and interests granted to it under the Declaration of Trust, and Sidhu shall own all right, title and beneficial interest in the Mineral Right and solely be responsible for all claims, costs, expenses and liabilities relating to the Mineral Right and the Declaration of Trust and shall indemnify and hold harmless Everest from all claims, costs, expenses and liabilities relating to the Mineral Right and/or the Declaration of Trust.



/s/ Gary Sidhu                                                 
Gary Sidhu


EVEREST RESOURCES CORP.

By: /s/ Mohan Singh                                      
Mohan Singh
President and Principal Executive Officer

Everest Resources Corp. Reports