GENERAL RED INTERNATIONAL, INC.
RECISSION AGREEMENT
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<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>genred8kex101112108.htm
<DESCRIPTION>RECISSION AGREEMENT
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        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><b><font style="FONT-SIZE: 10pt; COLOR: #000000; FONT-FAMILY: 'TIMES NEW ROMAN'">Form 8-K, Exhibit 10.1<br>
        &nbsp;</font></b></p>

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        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; COLOR: #000000; FONT-FAMILY: 'TIMES NEW ROMAN'">This Rescission Agreement ("Agreement") is entered into and effective as of</font> <font style="FONT-SIZE: 10pt; COLOR: #000000; FONT-FAMILY: 'TIMES NEW ROMAN'">November 17</font><font style="FONT-SIZE: 10pt; COLOR: #000000; FONT-FAMILY: 'TIMES NEW ROMAN'">, 2008, by and between General Red International, Inc, a
        Texas corporation ("Company"), Xingping Hou ("Xingping Hou"),</font> <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Xingguo General Red Navel Orange Preservation Company, Ltd. (&ldquo;Xingguo&rdquo;)</font> <font style="FONT-SIZE: 10pt; COLOR: #000000; FONT-FAMILY: 'TIMES NEW ROMAN'">and Xingguo General Fruits Development Company, Ltd. ("General Fruits"). All parties to this Agreement are hereinafter collectively referred to as &ldquo;Parties&rdquo;.<br>
        &nbsp;<br>
        RECITALS<br>
        &nbsp;<br>
        WHEREAS,</font> <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">on August 08, 2008, the Company entered five agreements (including a Consultation Agreement, an Operating Agreement, a Proxy Agreement, a Share Pledge Agreement, and an Option Agreement, collectively referred to as "Control Transaction Agreements&rdquo;) with Xingguo, Xingping Hou and General Fruits.</font></p>

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        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; COLOR: #000000; FONT-FAMILY: 'TIMES NEW ROMAN'">WHEREAS, the Parties wish to rescind and nullify</font> <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Control Transaction Agreements</font> <font style="FONT-SIZE: 10pt; COLOR: #000000; FONT-FAMILY: 'TIMES NEW ROMAN'">and the issuance of any shares of common stock that are issued to Xingping Hou
        pursuant to the</font> <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Control Transaction Agreements.<br>
        &nbsp;</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">NOW THEREFORE,</font> <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">the Parties agree as follows:</font></p>

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        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; COLOR: #000000; FONT-FAMILY: 'TIMES NEW ROMAN'">Section 1. Rescission. The Parties hereby agree that the Control Transaction Agreements entered on August 08, 2008, including</font> <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">a Consultation Agreement, an Operating Agreement, a Proxy Agreement, a Share Pledge Agreement, and an Option
        Agreement</font><font style="FONT-SIZE: 10pt; COLOR: #000000; FONT-FAMILY: 'TIMES NEW ROMAN'">, are rescinded and nullified and are of no force and effect from the outset, effective on the date first written above. Any and all the shares of common stock of the Companythat are issued to Xingping Hou pursuant to the Control Transaction Agreements (&ldquo;Stock&rdquo;) are also cancelled and nullified.<br>
         &nbsp;<br>
        Section 2. Return of Stock Certificates. Simultaneously with the execution of this Agreement Xingping Hou shall return to the Company the certificates representing any and all of the Stock of the Company, together with all necessary documentation to transfer legal title in the Stock back to the Company. Xingping Hou hereby disclaims any interest whatsoever in the Stock. Upon receipt of the certificates representing the Stock the Company shall direct its transfer agent to cancel the
        Stock from its books and records.<br>
        &nbsp;<br>
        Section 3. Miscellaneous. This Agreement constitutes the entire agreements among the Parties with respect to the subject matter hereof and no modification or waiver shall be effective unless in writing and signed in writing by the party to be charged. This Agreement shall be binding upon and inure to the respective benefit of the parties hereto and their respective successors, heirs, assigns, executors, administrators and legal representatives. This Agreement may be executed in one or
        more counterparts, each of which shall be deemed and original, but all of which shall constitute one and the same agreement. This Agreement shall be governed by and construed in accordance with the laws of the State of New York, without giving effect to any choice or conflict of law provisions or rules which would cause the application of any law, rule or regulation other than the State of New York.</font></p>

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        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; COLOR: #000000; FONT-FAMILY: 'TIMES NEW ROMAN'"><br>
        &nbsp;<br>
        IN WITNESS WHEREOF, the Parties have executed this Agreement as of the date first written above.<br>
        &nbsp;<br>
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        &nbsp;</font></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><b><font style="FONT-SIZE: 10pt; COLOR: #000000; FONT-FAMILY: 'TIMES NEW ROMAN'">COMPANY</font></b><br>
        <font style="FONT-SIZE: 10pt; COLOR: #000000">&nbsp;<br>
        &nbsp;<br>
        By:</font><font style="FONT-SIZE: 10pt; COLOR: #000000">&nbsp;</font> <font style="FONT-SIZE: 10pt; COLOR: #000000; FONT-FAMILY: 'TIMES NEW ROMAN'"><u>/s/&nbsp; Xingping Hou</u></font></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; COLOR: #000000; FONT-FAMILY: 'TIMES NEW ROMAN'">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Xingping Hou</font></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; COLOR: #000000"><br>
        President, Chairman of the Board<br>
        &nbsp;<br>
        &nbsp;</font></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><b><font style="FONT-SIZE: 10pt; COLOR: #000000; FONT-FAMILY: 'TIMES NEW ROMAN'">XINGGUO:</font></b><br>
        <font style="FONT-SIZE: 10pt; COLOR: #000000">&nbsp;<br>
        By:</font><font style="FONT-SIZE: 10pt; COLOR: #000000">&nbsp;</font> <font style="FONT-SIZE: 10pt; COLOR: #000000; FONT-FAMILY: 'TIMES NEW ROMAN'"><u>/s/ Xingguo General Red Navel Orange Preservation Company, Ltd</u></font></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 36px" align="left"><font style="FONT-SIZE: 10pt; COLOR: #000000; FONT-FAMILY: 'TIMES NEW ROMAN'">&nbsp;Xingguo General Red Navel Orange Preservation Company, Ltd.</font></p>

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        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><b><font style="FONT-SIZE: 10pt; COLOR: #000000; FONT-FAMILY: 'TIMES NEW ROMAN'">XINGPING HOU</font></b></p>

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        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; COLOR: #000000; FONT-FAMILY: 'TIMES NEW ROMAN'">By:</font><font style="FONT-SIZE: 10pt; COLOR: #000000">&nbsp; <u>/</u></font><font style="FONT-SIZE: 10pt; COLOR: #000000; FONT-FAMILY: 'TIMES NEW ROMAN'"><u>s/ Xingping Hou</u></font></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 36px" align="left"><font style="FONT-SIZE: 10pt; COLOR: #000000; FONT-FAMILY: 'TIMES NEW ROMAN'">&nbsp;Xingping Hou</font></p>

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        &nbsp;</font></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><b><font style="FONT-SIZE: 10pt; COLOR: #000000; FONT-FAMILY: 'TIMES NEW ROMAN'">GENERAL FRUITS</font></b></p>

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        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; COLOR: #000000; FONT-FAMILY: 'TIMES NEW ROMAN'">By:</font><font style="FONT-SIZE: 10pt; COLOR: #000000">&nbsp; <u></u></font><font style="FONT-SIZE: 10pt; COLOR: #000000; FONT-FAMILY: 'TIMES NEW ROMAN'"><u>/s/&nbsp; Xingguo General Fruits Development Company, Ltd.</u></font></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 36px" align="left"><font style="FONT-SIZE: 10pt; COLOR: #000000; FONT-FAMILY: 'TIMES NEW ROMAN'">&nbsp; Xingguo General Fruits Development Company, Ltd.</font></p>

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