Exhibit 4.59






Exhibit 4.59




[Translated from the original Chinese version]




PURCHASE OPTION AND COOPERATION AGREEMENT




among




GUANGZHOU BOXIN INVESTMENT ADVISORY CO., LTD.




YANG YANG




LIN YANG




and




FORTUNE
(BEIJING) YINGCHUANG TECHNOLOGY CO., LTD.




NOVEMBER 25, 2009




BEIJING, CHINA




 


 









 







PURCHASE OPTION AND COOPERATION AGREEMENT




This Purchase Option and Cooperation Agreement (“this Agreement”) is entered into in Beijing,
People’s Republic of China (the “PRC”) on November 25, 2009 by and among:



Party A: Guangzhou Boxin Investment Advisory Co., Ltd.

Address: Room 208, Unit 3, No.163 Tianhe North Road, Tianhe District, Guangzhou



Party B: Yang YANG

Address: 9/F.,Tower C, Corporation Mansion, No.35 Financial Avenue Xicheng
District, Beijing 100140 China

ID No.: 11010219820521154X




Party C: Lin YANG

Address: 9/F.,Tower C, Corporation Mansion, No.35 Financial Avenue Xicheng
District, Beijing 100140 China

ID No.: 371100197603010016




Party D: Fortune (Beijing) Yingchuang Technology Co., Ltd.

Address: Room 1137-1140, Unit 2, No. 10 Xuanwumenwai Avenue, Xuanwu District, Beijing


Legal representative: Yang YANG




WHEREAS,




(1) Party A, a company with limited liability duly organized and validly existing in P.R.China,
provides certain technical support, strategic consulting and other services to Party D, and
currently is a major business partner of Party D;



(2) To finance the investment by Party B and Party C in Party D, Party A has entered into loan
agreements (hereafter the “Loan Agreements”) respectively with Party B and Party C on November 25,
2009, providing Party B and Party C with loans of RMB550,000 and RMB450,000, respectively. Pursuant
to the Loan Agreements, Party B and Party C have invested the full amount of the loans in Party D’s
registered capital, and hold 55% and 45% of the equity interest in Party D, respectively;



(3) For securing the payment obligation of Party D to Party A under the several agreements, Party B
and Party C entered into a Share Pledge Agreement with Party A on November 25, 2009 (“ Share Pledge
Agreement”) by which they pledge their holding shares in Party D to Party A, and



(4) The Parties hereto wish to grant Party A the exclusive purchase option to acquire, at any time
upon satisfaction of the requirements under the PRC law, the entire or a portion of Party D’s share
equity/assets owned by Party B and/or Party C by the Loan.



NOW AND THEREFORE, in accordance with the principle of sincere cooperation, mutual benefit and
joint development and after friendly negotiations, the Parties hereby enter into the following
agreements pursuant to the provisions of relevant laws and
regulations of the PRC.



ARTICLE 1. DEFINITIONS




The terms used in this Agreement shall have the meanings set forth below:



1.1 “This Agreement” means this Purchase Option and Cooperation Agreement and all appendices
thereto, including written instruments as originally executed and as may from time to time be
amended or supplemented by the Parties hereto through written agreements;



1.2 “The PRC” means, for the purpose of this Agreement, the People’s Republic of China, excluding
Hong Kong, Taiwan and Macao.


 


 









 





1.3 “Date” means the year, month and day. In this Agreement, “within” or “no later than”, when used
before a year, month or day, shall always include the relevant year, month or day.



ARTICLE 2. THE GRANT AND EXERCISE OF PURCHASE OPTION




2.1 The Parties hereto agree that Party A shall be granted an exclusive purchase option to acquire,
at any time upon satisfaction of the requirements under applicable laws and conditions as agreed in
this Agreement (including, without limitation, as under applicable laws, when Party B and/or Party
C cease to be Party D’s directors or employees, or Party B and/or Party C attempt to transfer their
share equity in Party D to any party other than the existing shareholders of Party D), the entire
or a portion of Party D’s share equity owned by Party B and/or Party C, or the entire or portion of
the assets owned by Party D. The purchase option granted hereby shall be irrevocable during the
term of this Agreement and may be exercised by Party A or any eligible entity designated by Party
A.



2.2 Party A may exercise the aforesaid purchase option by delivering a written notice to any of
Party B, Party C and Party D (the “Exercise Notice”).



2.3 Within thirty (30) days of the receipt of the Exercise Notice, Party B, Party C or Party D (as
the case may be) shall execute a share/asset transfer contract and other documents (collectively,
the “Transfer Documents”) necessary to effect the respective transfer of share equity or assets
with Party A (or any eligible party designated by Party A).



2.4 When applicable laws permit the exercise of the purchase option provided hereunder and Party A
elects to exercise such purchase option, Party B, Party C and Party D shall unconditionally assist
Party A to obtain all approvals, permits, registrations, filings and other procedures necessary to
effect the transfer of relevant share equity or assets.



ARTICLE 3. REPRESENTATIONS AND WARRANTIES




3.1 Each party hereto represents to the other parties that: (1) it has all the necessary rights,
powers and authorizations to enter into this Agreement and perform its duties and obligations
hereunder; and (2) the execution or performance of this Agreement shall not violate any significant
contract or agreement to which it is a party or by which it or its assets are bounded.



3.2 Party B and Party C hereto represent to Party A that: (1) they are both legally registered
shareholders of party D and have paid Party D the full amount of their respective portions of Party
D’s registered capital required under Chinese law; (2) neither Party B nor Party C has created any
mortgage, pledge, secured interests or other form of debt liabilities over the Share Equity other
than the Pledge created under the Share Pledge Agreement; and (3) neither Party B nor Party C has
sold or will sell to any third party its
Share Equity in Party D.



3.3 Party D hereto represents to Party A that: (1) it is a limited liability company duly
registered and validly existing under the PRC law; and (2) its business operations are in
compliance with applicable laws of the PRC in all material respect.



ARTICLE 4. EXERCISE PRICE




When it is permitted by applicable laws, Party A (or any eligible party designated by Party A)
shall have the right to acquire, at any time, all of Party D’s assets or its share equity owned by
Party B and Party C, at a price equal to the sum of the principles of the loans (RMB1,000,000) from
Party A to Party B and Party C under the Loan Agreements. If Party A (or any eligible party
designated by Party A) elects to purchase a portion of Party D’s share equity or assets, then the
exercise price for such purpose shall be adjusted accordingly based on the percentage of such share
equity or assets to be purchased over the total share equity or assets. When Party A (or a
qualified entity designated by party A) is to acquire all or a portion of Party D’s equity share or
assets from Party B and Party C pursuant to this Agreement, Party A
has the right to substitute the principle amounts Party B and Party C respectively owe Party A under the Loan
Agreements for the purchase prices payable to Party B and Party C, respectively. When acquiring
share equity or assets from Party B, Party C, or Party D pursuant to this Agreement, Party A shall
pay an actual exercise price based on the exercise price under applicable Chinese laws or
requirements of relevant authorities, if the exercise price under applicable laws or requirements
of relevant authorities is higher than the exercise price under this Agreement.




 


 









 







ARTICLE 5. COVENANTS




The Parties further agree as follows:



5.1 Before Party A (or any eligible party designated by Party A) has acquired all the equity/assets
of Party D by exercising the purchase option provided hereunder, Party D shall not:



5.1.1 sell, assign, mortgage or otherwise dispose of, or create any encumbrance on, any of its
assets, operations or any legal or beneficiary interests with respect to its revenues (unless such
sale, assignment, mortgage, disposal or encumbrance is relating to its daily operation or has been
disclosed to and agreed by Party A in writing);



5.1.2 enter into any transaction which may materially affect its assets, liability, operation,
equity or other legal rights (unless such transaction is relating to its daily operation or has
been disclosed to and agreed by Party A in writing); and



5.1.3 distribute any dividend to its shareholders in any manner.



5.2 Before Party A (or any eligible party designated by Party A) has acquired all the equity/assets
of Party D by exercising the purchase option provided hereunder, Party B and/or Party C shall not
individually or collectively:



5.2.1 supplement, alter or amend the articles of association of Party D in any manner to the extent
that such supplement, alteration or amendment may have a material effect on Party D’s assets,
liability, operation, equity or other legal rights (except for pro rata increase of registered
capital mandated by applicable laws);



5.2.2 cause Party D enter into any transaction to the extent such transaction may have a material
effect on Party D’s assets, liability, operation, equity or other legal rights (unless such
transaction is relating to Party D’s daily operation or has been disclosed to and agreed by Party A
in writing); and



5.2.3 cause Party D’s board of directors adopt any resolution on distributing dividends to its
shareholders.



5.3 After the execution of this Agreement, Party B and Party C (the “Principals”) shall each
execute and deliver a proxy to the agents (the “Agents”) to the satisfaction of Party A to grant
the Agents all voting rights as shareholders of Party D, including without limitations the right to
appoint and elect Party D’s directors, general manager and other senior officers in Party D’s
shareholders meetings. The initial term of such proxies shall be twenty (20) years, and the initial
term shall be renewed automatically upon expiry of the proxies unless Party A notifies the
Principals in writing thirty (30) days prior to the expiry date to terminate the proxies. Such
proxies shall be based on the conditions that the Agents are Chinese citizens employed by Party A
and shall be subject to Party A’s consent. Once the Agents cease to be employed by Party A or Party
A delivers a written notice to the Principals requesting the proxies to be terminated, the
Principals shall revoke the relevant proxy immediately and grant the same rights as provided in the
proxies to other PRC citizens employed and designed by Party A. The Agents have agreed to act with
due care and diligence in exercising their rights under the proxies and indemnify and keep the
Principals harmless from any loss or damages caused by any action in connection with exercise of
their rights under the proxies (unless any loss or damage is caused by the Principals’ own
intentional or material negligent actions).



5.4 Party B and Party C shall, to the extent permitted by applicable laws, cause Party D’s
operational term to be extended to equal the operational term of Party A.


 


 









 





5.5 Party A shall provide or arrange other parties to provide financings to Party D to the extent
Party D needs such financing to finance its operation. In the event that Party D is unable to repay
such financing due to its losses, Party A shall waive or cause the relevant parties to waive all
recourse against Party D with respect to such financing.



5.6 To the extent Party B and/or Party C are subject to any legal or economic liabilities to any
institution or individual other than Party A as a result of performing their obligations under this
Agreement or any other agreements between them and Party A, Party A shall provide all support
necessary to enable Party B and/or Party C to duly perform their obligations under this Agreement
and any other agreements and to hold Party B and/or Party C harmless against any loss or damage
caused by their performance of obligations under such agreements.



ARTICLE 6. CONFIDENTIALITY




Each Party shall keep confidential all the content of this Agreement. Without the prior consent of
all Parties, no Party shall disclose any content of this Agreement to any other party or make any
public announcements with respect to any content of this Agreement. Notwithstanding the forgoing
provisions of this Article 6, the following disclosure shall be permitted: (i) disclosure made
pursuant to any applicable laws or any rules of any stock exchange; (ii) disclosure of information
which has become public information other than due to any breach by the disclosing party; (iii)
disclosure to any Party’s shareholders, legal counsel, accountants, financial advisors or other
professional advisors, or (iv) disclosure to any potential purchasers of a Party or its
shareholders’ equity/assets, its other investors, debts or equity financing providers, provided
that the receiving party of confidential information has agreed to keep the relevant information
confidential (such disclosure shall be subject to the consent of Party A in the event that Party A
is not the potential purchaser).



ARTICLE 7. APPLICABLE LAW AND EVENTS OF DEFAULT




The execution, effectiveness, interpretation, performance and dispute resolution of this Agreement
shall be governed by the laws of the PRC.



Any violation of any provision hereof, incomplete performance of any obligation provided hereunder,
any misrepresentation made hereunder, material concealment or omission of any material fact or
failure to perform any covenants provided hereunder by any Party shall constitute an event of
default. The defaulting Party shall assume all the legal liabilities pursuant to the applicable
laws.



ARTICLE 8. DISPUTE RESOLUTION




8.1 Any dispute arising from the performance of this Agreement shall be first subject to the
Parties’ friendly consultations. In the event any dispute cannot be solved by friendly
consultations, the relevant dispute shall be submitted for arbitration;



8.2 The arbitration shall be administered by the Beijing branch of China International Economic and
Trade Arbitration Commission in accordance with the then effective arbitration rules of the
Commission.



8.3 The arbitration award shall be final and binding on the Parties. The costs of the arbitration
(including but not limited to arbitration fee and attorney fee) shall be borne by the losing party,
unless the arbitration award stipulates otherwise.



ARTICLE 9. EFFECTIVENESS




This Agreement shall be effective upon the execution hereof by all Parties hereto and shall remain
effective thereafter.



This Agreement may not be terminated without the unanimous consent of all the Parties except Party
A may, by giving a thirty (30) days prior notice to the other Parties hereto, terminate this
Agreement.


 


 









 





ARTICLE 10. AMENDMENT




All Parties hereto shall fulfill their respective obligations hereunder. No amendment to this
Agreement shall be effective unless such amendment has been made in writing, agreed by all of the
Parties and Party A and Party D have obtained necessary authorization and approvals with respect to
such amendment.



ARTICLE 11. COUNTERPARTS




This Agreement is executed in four (4) counterparts. Party A, Party B, Party C and Party D shall
each hold one counterpart.



ARTICLE 12. MISCELLANEOUS




12.1 Party B and Party C’s obligations, covenants and liabilities to Party A hereunder are joint
and several, and Party B and Party C shall assume joint and several liabilities with respect to
such obligations, covenants and liabilities. With respect to Party A, a default by Party B shall
automatically constitute a default by Party C, and vice versa.



12.2 The title and headings contained in this Agreement are for convenience of reference only and
shall not in any way affect the meaning or interpretation of any provision of this Agreement.



12.3 The Parties may enter into supplementary agreements to address any issue not covered by this
Agreement. The supplementary agreements so entered shall be an appendix hereto and shall have the
same legal effect as this Agreement.



[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]




 


 









 







[Execution page only]




Party A: Guangzhou Boxin Investment Advisory Co., Ltd.




(Seal)

Authorized Representative (Signature):



Party B: Yang YANG




(Signature):



Party C: Lin YANG




(Signature):



Party D: Fortune (Beijing) Yingchuang Technology Co., Ltd.



(Seal)

Authorized Representative (Signature):