Exhibit 4.111





Exhibit 4.111




[Translated from the original Chinese version]




PURCHASE OPTION AGREEMENT




among




FORTUNE SOFTWARE (BEIJING) CO., LTD.




JUANJUAN WANG




MINHUA WANG




and




SHANGHAI SHANGTONG CO., LIMITED




JANUARY 5, 2010




BEIJING, CHINA



 


 









 





PURCHASE OPTION AGREEMENT




This Purchase Option Agreement (“this Agreement”) is entered into in Beijing, People’s Republic of
China (the “PRC”) on January 5, 2010 by and among:



Party A: Fortune Software (Beijing) Co., Ltd.

Registered address: Room 626, Beijing Aerospace CPMIEC Building, No. 30 Haidian South Road, Haidian District, Beijing




Party B: Juanjuan Wang

Address: Room 107, Unit 2, No. 407 Datong Road, Bao Town, Chongming County (Shanghai Bao Town Industrial Zone)

ID No.: 342523198201283122




Party C: Minhua Wang

Address: 9/F., Tower C, Corporate Square, No.35 Financial Street, Xicheng District, Beijing

ID No.: 110108197204049310




Party D: Shanghai Shangtong Co., Limited

Address: Room 107, Unit 2, No. 407 Datong Road, Bao Town, Chongming County (Shanghai Bao Town Industrial Zone)

Legal representative: Juanjuan Wang




WHEREAS,




(1) Party A is a company with limited liability duly organized and validly existing in Beijing,
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 with Party B and Party C on January 5, 2010, providing Party B and Party C with loans of
RMB 550,000 and RMB 450,000 separately. Pursuant to the Loan Agreement, Party B and Party C have
invested the full amount of the loans in Party D’s registered capital, and each holds 55% and 45%
equity interests in Party D, respectively; and



(3) To guarantee the payment obligations of Party D to Party A pursuant to certain contractual
agreements, Party B and Party C have entered into a share pledge agreement (hereafter the “Share
Pledge Agreement”) with Party A on January 5, 2010, pledging Party B’s and Party C’s respective
Share Equity 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.



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 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 propose 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 (“Purchase Option”). 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 and/or Party C (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




Each party hereto represents to the other parties that:



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 from Party A to
Party B and Party C under the Loan Agreement (RMB1,000,000). 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 Agreement 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 written form and 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 with same legal effect. 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.



[The remaining of this page is intentionally left blank]




 


 









 







[Execution page only]




Party A: Fortune Software (Beijing )Co. Limited




Seal:

Authorized Representative (Signature):




Party B: Juanjuan Wang




(Signature):



Party C: Minhua Wang




(Signature):



Party D: Shanghai Shangtong Co., Limited




Seal: