Unassociated Document


    
      EQUITY
PLEDGE AGREEMENT

      股权质押协议

       

      This
Equity Pledge Agreement (hereinafter this “Agreement”) is dated
December 28, 2005, and is entered into in Jinjiang City, People’s Republic of
China (“PRC” or “China”) by and between Korea Jinduren (Int’l) Dress Limited
(“Pledgee”),
and each of the shareholders listed on the signature pages hereto (“Pledgor”) of
Jinjiang Yinglin Jinduren Dress Co., Ltd.(“Jinduren
Company”). The Jinduren Company is made a party to this Agreement for the
purpose of acknowledging the Agreement.

      


      此《股权质押协议》(以下作“协议”)于2005年12月28日在中华人民共和国(“PRC”或“中国”)晋江市由韩国劲都人(国际)服饰有限公司(“质权人”)与签字页所示的晋江市英林劲都人服饰有限公司(“劲都人公司”)的股东(“出质人”)共同
订立。劲都人公司以下签字是为认可本协议。

       

      RECITALS

      说       明

       

      1.           The
Pledgee incorporated in Hong Kong, specializes in dress industry and
investment.

      


      质权人设立于香港,专门开展服饰业务和投资。

      


      2.           Jinduren
Company, a limited company incorporated in PRC, is engaged in the manufacture
and sale of the dress (collectively the “Business”).

      


      
        劲都人公司为在中国设立的有限公司,其从事服装制造和销售(合称“业务”).

      

       

      3.           The
Pledgors are shareholders of Jinduren Company, each legally holding such amount
of equity interest of Jinduren Company as set forth on the signature page of
this Agreement and collectively holding 100% of the issued and outstanding
equity interests of Jinduren Company (collectively the “Equity
Interest”).

      


      出质人为按照本协议签字页载明的数额合法持有劲都人公司的股权的股东,前述股东持有股权合计构成劲都人公司的已发行股权的100%(以下统称“股权”)。

       

      4.           The
Pledgee and Jinduren Company have executed a Consulting Services Agreement dated
December 28, 2005 (the “Consulting Services
Agreement”) concurrently herewith, pursuant to which Jinduren Company
shall pay consulting and service fees (the “Consulting Services
Fee”) to the Pledgee for consulting and related services in connection
with the Business.

      


      质权人和劲都人公司在2005年12月28日签订了签署了《咨询服务协议》(以下简称《咨询服务协议》)。基于该协议,劲都人公司需向质权人就其提供的咨询和其他与公司业务相关的服务支付咨询和服务费(以下简称“咨询服ࡃ
3;费”)。

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      5.           In
order to ensure that Jinduren Company will perform its obligations under the
Consulting Services Agreement, and in order to provide an additional mechanism
for the Pledgee to enforce its rights to collect the Consulting Services Fee
from Jinduren Company, the Pledgors agree to pledge all their equity interests
in Jinduren Company as security for the performance of the obligations of
Jinduren Company under the Consulting Services Agreement, including payment of
the Consulting Services Fee.

      


      为确保劲都人公司履行其在《咨询服务协议》项下的义务,并为质权人能够照常从劲都人公司收取咨询服务费提供进一步的措施,出质人同意出质在劲都人公司中的所有股权作为对劲都公司履行《咨询服务协议》项下义务(含咨询服务费用
支付义务)的担保。

      


      NOW THEREFORE, the Pledgee and
the Pledgors through mutual negotiations hereby enter into this Agreement based
upon the following terms:

      


      因此,质权人和出质人经相互协商签订以下协议,以资遵守:

      


      1.           Definitions and
Interpretation.  Unless otherwise provided in this Agreement,
the following terms shall have the following meanings:

      


      定义和解释。如果该协议不另作说明,下述条款将有下述含义:

      


      1.1           “Pledge” refers to the
full content of Section 2 hereunder.

      


       “质押”指的是下文第2节的全部内容。

      


      1.2           “Equity Interest”
refers to all the equity interests in Jinduren Company legally held by the
Pledgors.

      


      “股权”指的是由出质人合法拥有的在劲都人公司中的全部股权。

      


      1.3           “Term of Pledge”
refers to the period provided for under Section 3.2 hereunder.

      


      “质押期限”指的是下文3.2节所提到的期限。

      


      1.4           “Event of Default”
refers to any event in accordance with Section 7.1 hereunder.

      


      “违约事项”指的是下文7.1节所列任何事项。

       

      
        
          
          

        

        
          
            -2-

            
              Equity
Pledge Agreement

              JINJIANG
YINGLIN JINDUREN DRESS Co. , LTD.

            

          

          
            

          

        

        
          
          

        

      

       

      1.5           “Notice of Default”
refers to the notice of default issued by the Pledgee in accordance with this
Agreement.

      


      “违约通知”
指的是由质权人根据本协议发出的违约通知。

      


      2.           The
Pledge.  The Pledgors hereby pledge the Equity Interest to the
Pledgee as a security for the obligations of the Jinduren Company under the
Consulting Services Agreement (the “Pledge”).  Pursuant
thereto, the Pledgee shall have priority in receiving payments from the
evaluation or the proceeds from the auction or sale of the Equity Interest. The
Equity Interest shall hereinafter be referred to as the “Pledged
Collateral”.

      


      质押。出质人谨此向质权人质押他们股权以作为在该《咨询服务协议》中所涉及的劲都人公司义务的担保(“质押”)。依照该协议,质权人将从股权权益的拍卖或销售的价款获得优先受偿权。股权以下称为“质押物”。

      


      3.           Term of
Pledge.

      


      质押期限。

      


      3.1           The
Pledge shall take effect as of the date when the Pledge is recorded in the
Jinduren Company’s Register of Shareholders, and shall expire two (2) years from
the Jinduren Company’s satisfaction of all its obligations under the Consulting
Services Agreement (the “Term”).

      


      质押将从质押事项载入公司股东登记薄之日开始生效。有效期限(“期限”)将在劲都人公司充分履行《咨询服务协议》项下义务的两(2)年后到期。

      


      3.2           During
the Term, the Pledgee shall be entitled to vote, control, sell, or dispose of
the Pledged Collateral in accordance with this Agreement in the event that the
Jinduren Company does not perform its obligations under the Consulting Services
Agreement, including without limitations thee failures to pay the Consulting
Service Fee.

      


      在期限之内,如果劲都人公司没有履行《咨询服务协议》下的义务,包括但不限于三次不支付咨询服务费,质权人有权根据本协议投票、控制、出售或处分质押物。

      


      3.3           During
the Term, the Pledgee shall be entitled to collect any and all dividends
declared or paid in connection with the Pledged Collateral.

      


      在期限之内,质权人有权收取所有已宣告或已支付的与质押物有关的红利。

       

      
        
          
          

        

        
          
            -3-

            
              Equity
Pledge Agreement

              JINJIANG
YINGLIN JINDUREN DRESS Co. , LTD.

            

          

          
            

          

        

        
          
          

        

      

       

      4.           Pledge Procedure and
Registration.

      


      质押程序和登记。

      


      4.1           The
Pledge shall be recorded in the Jinduren Company’s Register of
Shareholders.  The Pledgors shall, within ten (10) days after the date
of this Agreement, process the registration procedures with the Administration
for Industry and Commerce concerning the Pledge.

      


      质押应在劲都人公司的股东登记薄上载明。出质人应在本协议签订后10日内,向工商行政管理局办理质押登记手续。

      


      5.           Representation and
Warranties of Pledgors.

      


      出质人的陈述和保证。

      


      5.1           The
Pledgors are the legal owners of the Pledged Collateral.

      


      出质人是质押物的合法所有人。

      


      5.2           Other
than to the Pledgee, the Pledgors have not pledged the Pledged Collateral to any
other party, and the Pledged Collateral is not encumbered to any other
party.

      


      除质权人以外,出质人没有将质押物质押给其它任何人或在质押物上为其他人设定权利负担。

      


      6.           Covenants of
Pledgors.

      


      出质人的承诺。

      


      6.1           During
the Term, the Pledgors represent and warrant to the Pledgee for the Pledgee’s
benefit that the Pledgors shall:

      


      在期限内,出质人向质权人陈述并保证:基于质权人的利益,出质人必须做到:

      


      6.1.1    
Not
transfer or assign the Pledged Collateral, nor create or permit to create any
pledge or encumbrance to the Pledged Collateral which may adversely affect the
rights and/or benefits of the Pledgee without the Pledgee’s prior written
consent.

      


      未经质权人事先书面同意,不得转让质押物,不得设立或允许设立任何可能对质权人权利或利益产生负面影响的质押或权利负担。

       

      
        
          
          

        

        
          
            -4-

            
              Equity
Pledge Agreement

              JINJIANG
YINGLIN JINDUREN DRESS Co. , LTD.

            

          

          
            

          

        

        
          
          

        

      

       

      6.1.2    
Comply
with the laws and regulations with respect to the Pledge; present to Pledgee any
notices, orders or advisements with respect to the Pledge that may be issued or
made by a competent PRC authority within five (5) days upon receiving such
notices, orders or advisements; comply with such notices, orders or advisements;
or object to the foregoing matters upon the reasonable request of the Pledgee or
with consent from the Pledgee.

      


      遵守与质押相关的法律、法规;在接到中国主管单位发布或制作的关于抵押的公告、命令或者广告5天内转交给质权人;遵守这些公告、命令或者广告;或者根据质权人合理要求或经质权人允许而对上述公告、命令或广告
5552;出异议;

      


      6.1.3    
Timely
notify the Pledgee of any events which may affect the Pledged Collateral or the
Pledgors’ rights thereto, or which may change any of the Pledgors’ warranties or
affect the Pledgor’s performance of their obligations under this
Agreement.

      


      及时通知质权人那些可能影响质押物或出质人对质押物权利的事件,或可能改变出质人在本协议下的保证或影响出质人履行本协议项下义务的事件。

      


      6.2          
The
Pledgors agree that the Pledgee’s right to the Pledge pursuant to this Agreement
shall not be suspended or inhibited by any legal proceedings initiated by the
Pledgors, jointly or separately, or by any successor of or any person authorized
by the Pledgors.

      


      出质人同意,质权人对依本协议对质押的权利不应被由出质人、出质人继承者、出质人授权的人(单独或共同)提起的法律程序所中止或禁止。

      


      6.3          
The
Pledgors represent and warrant to the Pledgee that in order to protect and
perfect the security for the payment of the Consulting Services Fee, the
Pledgors shall execute in good faith and cause other parties who have interests
in the Pledged Collateral to execute all the title certificates, contracts, and
perform actions and cause other parties who have interests to take action, as
required by the Pledgee.

      


      出质人向质权人陈述并保证:为了保障和实现对服务费用支付的担保并使担保处于良好状态,出质人应依质权人要求,善意地并且促使其他在质押物中有利益的他方,签署所有的产权证明、合同及采取行动。

      


      6.4         
The
Pledgors represent and warrant to the Pledgee or its appointed representative
(whether a natural person or a legal entity) that they will execute all
applicable and required amendments in connection with the registration of the
Pledge, and within a reasonable amount of time upon request, provide the
relevant notice, order and decision regarding such registration to the
Pledgee.

      


      出质人向质权人或其指定代表(自然人或法人机构)陈述并保证:其会签署与质押登记有关的所有适用且必要的修正文件,并且根据要求在合理的时间内向质权人提供与登记相关的通知、命令或决定。

       

      
        
          
          

        

        
          
            -5-

            
              Equity
Pledge Agreement

              JINJIANG
YINGLIN JINDUREN DRESS Co. , LTD.

            

          

          
            

          

        

        
          
          

        

      

       

      6.5          
The
Pledgors represent and warrant to the Pledgee that they will abide by and
perform all relevant guarantees, covenants, warranties, representations and
conditions necessary to insure the rights of the Pledgee under this
Agreement.  The Pledgors shall compensate all the losses suffered by
the Pledgee as a result of the Pledgors’ failure to perform any such guarantees,
covenants, warranties, representations or conditions.

      


      出质人向质权人陈述并保证:其会遵守和履行所有相关的担保、承诺、保证、陈述和条件来保证本协议项下质权人的权利。出质人应对由于其没有履行此等担保承诺、契约、担保、陈述或条件而给质权人造成的损失作出赔偿。

      


      7.           Events of
Default.

      


      违约事项。

      


      
        7.1         
The
occurrence of any one of the following events shall be regarded as an “Event of
Default”:

      

      


      如下事项将被视为违约事项:

      


      7.1.1    
This
Agreement is deemed illegal by a governing authority of the PRC, or the Pledgor
is incapable of continuing to perform the obligations herein due to any reason
except force
majeure;

      


      该协议被中华人民共和国监管部门视作非法,或出质人由于除不可抗力以外的任何原因不能继续履行本协议规定的义务;

      


      7.1.2    
The
Jinduren Company fails to timely pay the Consulting Services Fee in full as
required under the Consulting Service Agreement;

      


      劲都人公司不能如期全额支付《咨询服务协议》中的服务费用;

      


      7.1.3    
A Pledgor
makes any materially false or misleading representations or warranties under
Section 5 herein, or breaches any warranties under Section 5
herein;

      


      出质人在第5节作出任何重大错误说明或误导性的陈述保证,或者出质人违反第5节中的保证;

       

      
        
          
          

        

        
          
            -6-

            
              Equity
Pledge Agreement

              JINJIANG
YINGLIN JINDUREN DRESS Co. , LTD.

            

          

          
            

          

        

        
          
          

        

      

       

      
        7.1.4    
A Pledgor
breaches the covenants under Section 6 herein;

      

      


      出质人违反第6款规定的契约;

      


      
        7.1.5    
A Pledgor
breaches any terms and conditions of this Agreement;

      

       

      出质人违反协议规定的任何条款或条件;

      


      7.1.6    
A Pledgor
transfers or assigns, cause to be transferred or assigned, or otherwise abandons
the Pledged Collateral without the prior written consent of the
Pledgee;

      


      事先未经质权人的书面允许,出质人转让质押物,或导致质押物被转让,或放弃质押物;

       

      7.1.7    
Jinduren
Company is incapable of repaying debt;

      


      劲都人公司无力偿付债务;

      


      7.1.8    
The
assets of a Pledgor are adversely affected so as to cause the Pledgee to believe
that such Pledgor’s ability to perform the obligations herein is adversely
affected;

      


      出质人财产遭受不利影响导致质权人确信出质人履行本协议义务的能力也受到不利影响;

      


      7.1.9    
The
successors or agents of Jinduren Company refuse, or are only partly able, to
perform the payment obligations under the Consulting Services
Agreement;

      


      劲都人公司的承继人或代理人拒绝履行,或仅能部分履行《咨询服务协议》中的支付义务;

      


      7.2           A
Pledgor shall immediately give a written notice to the Pledgee if such Pledgor
is aware of or discovers that any event under Section 7.1 herein, or any event
that may result in any one of the foregoing events, has occurred or is likely to
occur.

      


      出质人一旦意识到或发现7.1款中的事件或其他可能导致上述任一事件发生的因素,必须马上给予质权人书面通知。

       

      
        
          
          

        

        
          
            -7-

            
              Equity
Pledge Agreement

              JINJIANG
YINGLIN JINDUREN DRESS Co. , LTD.

            

          

          
            

          

        

        
          
          

        

      

       

      7.3           Unless
an Event of Default has been resolved to the Pledgee’s satisfaction within 15
days of its occurrence (the “Cure Period”), the
Pledgee may, at any time thereafter, give a written default notice (the “Default Notice”) to
the Pledgor and require the Pledgors to immediately make full payment of the
then outstanding Consulting Service Fee and any other outstanding payables in
accordance with Section 8 herein.

      


      除非违约事项在发生后15天内(“补救期”)得到解决,并且质权人对此满意,质权人可以在此后给予出质人一个书面的违约通知(“违约通知”)并且要求出质人根据第8节的规定立即全额支付尚欠的咨෽
0;服务费用以及其他应付费用。

      


      8.           Exercise of
Remedies.

      


      补救措施。

      


      8.1           Authorized Action by Secured
Party. The
Pledgors hereby irrevocably appoint Pledgee as the attorney-in-fact of the
Pledgors for the purpose of carrying out the security provisions of this
Agreement and to take any action and execute any instrument that the Pledgee may
deem necessary or advisable to accomplish the purpose of this
Agreement.  Such power of attorney shall be effective, automatically
and without the necessity of any action (including any transfer of any Pledged
Collateral) by any person, upon the occurrence an Event of
Default.  Pledgee shall not have any duty to exercise any such right
or to preserve the same and shall not be liable for any failure to do so or for
any delay in doing so.

      


      If an Event of Default occurs, or is
already proceeding, Pledgee shall have the right to exercise the following
rights:

      


      被担保方的受权措施。出质人不可撤销地指定质权人为自己的事实代理人,以实现本协议担保条款之目的、并采取任何质权人认为对达到本协议目的必要的或有益的行动和签署此等文书。在违约事项发生时,该代理权将自动生效,无须任何
0154;的任何行为(包括抵押物的转移)。质权人没有义务行使或保留上述权利,也不对未行使或延迟行使上述权利负责。

      


      如果一个违约事件发生,或者正在发展,质权人有权利行使如下权利:

      


      (a)           Collect
by legal proceedings or otherwise, and endorse and/or receive all payments,
proceeds and other sums and property now or hereafter payable on or on account
of the Pledged Collateral;

      


      代表或为了质押物,以法定程序及其它方式收取、背书、接收所有付款、价款以及现今及今后所有应收的款项和财产;

       

      
        
          
          

        

        
          
            -8-

            
              Equity
Pledge Agreement

              JINJIANG
YINGLIN JINDUREN DRESS Co. , LTD.

            

          

          
            

          

        

        
          
          

        

      

       

      (b)           Enter
into any extension, reorganization, deposit, merger, consolidation or other
agreement pertaining to, or deposit, surrender, accept, hold or apply other
property in exchange for the Pledged Collateral;

      


      参与关于、处置、放弃、接受、或拥有其它财产交换质押物的任何延期、重组、处置、兼并、合并等安排;

       

      (c)           Transfer
the Pledged Collateral under the Pledgee’s name or under an appointed
nominee;

      


      将质押物转到质权人或其指定人名下;

      


      (d)           Make
any compromise or settlement, and take any action the Pledgee deems advisable,
with respect to the Pledged Collateral;

      


      就质押物作出质权人认为有益的妥协或和解。

      


      (e)           Notify
any obligor with respect to the Pledged Collateral to make payment directly to
the Pledgee;

      


      通知任何与质押物有关的债务人直接付款给质权人;

      


      (f)           All
rights of the Pledgors that they would otherwise be entitled to enjoy or
exercise with respect to the Pledged Collateral, including without limitations
the rights to vote and to receive distributions, shall cease without any further
action by or notice, and all such rights shall thereupon become vested in the
Pledgee; and

      


      无需任何其他措施或通知,出质人应丧失原先所有对质押物享有或行使的其他权利,包括但不限于投票权及获得分配的权利。这些权利应归属于质权人;并且

      


      (g)           The
Pledgors shall execute and deliver to the Pledgee such other instruments as the
Pledgee may request in order to permit the Pledgee to exercise the rights set
forth herein.

      


      出质人应按质权人要求签署和交付其他文据,以允许质权人行使本协议项下的权利。

       

      
        
          
          

        

        
          
            -9-

            
              Equity
Pledge Agreement

              JINJIANG
YINGLIN JINDUREN DRESS Co. , LTD.

            

          

          
            

          

        

        
          
          

        

      

       

      8.2           Other
Remedies.  Upon the expiration of the Cure Period, the Pledgee,
in addition to the remedies set forth in Section 8.1 or such other rights in
law, equity or otherwise, may, without notice or demand on the Pledgors, elect
any of the following:

      


      其他补救措施。补救期限结束之后,质权人除了享有法律、股权和8.1条规定等的权利以外,还有权无须通知或经向出质人提出要求,而采取以下措施:

      


      (a)           Require
the Pledgors to immediately pay all outstanding unpaid amounts due under the
Consulting Services Agreement;

      


      要求出质人立即支付《咨询服务协议》中的到期未支付费用的总额;

      


      (b)           Foreclose
or otherwise enforce the Pledgee’s security interest to the Pledged Collateral
in any manner permitted by law or provided under this Agreement;

      


      用法律许可的及本协议中规定的任何方式来终止回赎权或以其他方法执行出质人在质押物上的股权;

      


      
        (c)          
Terminate
this Agreement pursuant to Section 11;

      

      


      
        依照11节终止该协议;

      

      


      (d)           Exercise
any and all rights as the beneficial and legal owner of the Pledged Collateral,
including, without limitation, the transfer and exercise of voting and any other
rights to the Pledged Collateral; and

      


      行使作为质押物合法所有人和受益人的所有权利,包括但不限于转让、行使涉及质押物的投票权和任何其他权利;并且

      


      (e)           Exercise
any and all rights and remedies of a secured party under applicable
laws.

      


      行使可适用法律下被担保方的任何权利及补救措施。

      


      8.3           The
Pledgee has priority in the receipt of payments from the proceeds of auction or
sale of the Pledged Collateral, in part or in whole, in accordance with legal
procedures, until all payment obligations under the Consulting Services
Agreement are satisfied.

      


      质权人依法定程序对整体地或部分地拍卖或销售质押物的价款具有优先受偿权,直至所有《咨询服务协议》下的付款义务偿清为止。

       

      
        
          
          

        

        
          
            -10-

            
              Equity
Pledge Agreement

              JINJIANG
YINGLIN JINDUREN DRESS Co. , LTD.

            

          

          
            

          

        

        
          
          

        

      

       

      8.4           The
Pledgors shall not hinder the Pledgee from exercising its rights in accordance
with this Agreement and shall give necessary assistance so that the Pledgee may
exercise its rights in full.

      


      出质人不可阻碍质权人根据本协议行使权利,并应给予必要的帮助以确保质权人充分行使权利。

      


      9.           Assignment.

      


      转让。

      


      9.1            The
Pledgors shall not assign or otherwise transfer the rights and obligations
herein without the Pledgee’s prior written consent.

      


      未经质权人的事先书面允许,出质人不得转让或以其他方式转移其权利和义务。

      


      9.2           This
Agreement shall be binding upon each of the Pledgors and their respective
successors, and shall be binding on the Pledgee and each of its successor and
assignee.

      


      本协议对每个出质人及其继承者有约束力,对质权人及其继承者及受让人有约束力。

      


      9.3           Upon
the transfer or assignment by the Pledgee of any or all of its rights and
obligations under the Consulting Service Agreement, the Pledgee’s transferee or
assignee shall enjoy and undertake the same rights and obligations as the
Pledgee under this Agreement.  The Pledgors shall be notified of any
such transfer or assignment by written notice and at the request of the Pledgee,
the Pledgors shall execute such relevant agreements and/or documents with
respect to such transfer or assignment.

      


      如果质权人转让《咨询服务协议》中的权利和义务,其受让人应当享有和承担与质权人相同的权利和义务。质权人应将该转让书面通知出质人。出质人应按质权人要求签署涉及转让的相关协议及文件。

      


      9.4           In
the event of the Pledgee’s change in control resulting in the transfer or
assignment of this Agreement, the successor to the Pledgee and the Pledgors
shall execute a new equity pledge agreement.

      


      如果质权人由于控制权改变而导致本协议转让,质权人的承继人应与出质人签署新的股权质押协议。

       

      
        
          
          

        

        
          
            -11-

            
              Equity
Pledge Agreement

              JINJIANG
YINGLIN JINDUREN DRESS Co. , LTD.

            

          

          
            

          

        

        
          
          

        

      

       

      10.          
Formalities, Fees and Other
Charges.

      


      手续,费用及其他支出。

      


      10.1           The
Pledgors shall be responsible for all the fees and expenses in relation to this
Agreement, including, but not limited, to legal fees, cost of production, stamp
tax and any other taxes and charges.  If the Pledgee pays the relevant
taxes in accordance with applicable law, the Pledgors shall fully reimburse the
Pledgee of such taxes.

      


      出质人将负责与该协议相关的所有费用,包括但不限于:法律费用、制作成本、印花税及其它税金和花费。如果质权人根据法律支付相关的税金,出质人将全额赔偿质权人该笔税金。

      


      10.2           The
Pledgors shall be responsible for all expenses (including, but not limited to,
any taxes, application fees, management fees, litigation costs, attorney’s fees,
and various insurance premiums in connection with the disposition of the Pledge)
incurred by the Pledgee in its recourse to collect from the Pledgors arising
from the Pledgors’ failure to pay any relevant taxes and fees.

      


      由于出质人因某种原因没有支付应付的税金、费用而导致质权人寻求追索权而引起的费用由出质人承担(包括但不限于与处理质押有关的税金、申请费、管理费用、诉讼费、律师费及各种保险费)。

      


      
        11.          
Force
Majeure.

      

      


      不可抗力。

      


      11.1           “Force Majeure” shall include,
but not be limited, to acts of governments, acts of nature, fire, explosion,
typhoon, flood, earthquake, tide, lightning, war, and any unforeseen events
beyond a Party’s reasonable control or which cannot be prevented with reasonable
care.  However, any shortage of credit, capital or finance shall not
be regarded as an event beyond a Party’s reasonable control.  A Party
affected by Force
Majeure shall promptly notify the other Parties of such event in order to
be exempted from such Party’s obligations under this Agreement.

      


      不可抗力,包括但不限于:政府行为、自然力、火灾、爆炸、台风、洪水、地震、涨潮、闪电、战争、各方无法预料并超出合理控制范围或不能因维护得宜而预防的其他事项。但是,任何贷款、资金或融资的短缺不应被视作超出某方合理控
1046;范围。受不可抗力影响的一方应立即通知其他方,以获得本协议下相关义务的豁免。

       

      
        
          
          

        

        
          
            -12-

            
              Equity
Pledge Agreement

              JINJIANG
YINGLIN JINDUREN DRESS Co. , LTD.

            

          

          
            

          

        

        
          
          

        

      

       

      11.2           In
the event that the affected Party is delayed or prevented from performing its
obligations under this Agreement due to Force Majeure, the affected
Party shall not be responsible for any damage caused by the delay or prevention
of such performance, as long as such damage is within the scope of such delay or
prevention.  The affected Party shall take appropriate means to
minimize or remove the effects of Force Majeure and attempt to
resume performance of the obligations delayed or prevented by Force
Majeure.  When such Force Majeure ceases to
exist, both Parties covenant and agree to resume the performance of this
Agreement with their best efforts.

      


      如果受影响一方由于不可抗力推迟或被阻碍履行其在协议中的义务,在推迟或阻碍的范围内,受影响方无须对该损失负责。受影响方需采取合适措施来最小化或去除不可抗力的影响,并恢复履行被不可抗力推迟或阻碍的义务。在不可抗力消
8500;后,双方应尽最大努力恢复履行本协议。

      


      12.           Confidentiality. The
Parties hereby acknowledge and agree to ensure the confidentiality of all oral
and written materials exchanged relating to this Agreement.  No Party
shall disclose any confidential information to any other third party without the
other Parties’ prior written approval, unless: (a) such information was in the public domain at the time it
was communicated (unless it entered the public domain without the authorization
of the disclosing Party); (b) the disclosure was in response to the
relevant laws, regulations,
or stock exchange rules; or (c) the disclosure was required by any of the
Party’s legal counsel or financial consultant for the purpose of the transaction
underlying this Agreement.  However, such legal counsel and/or
financial consultant shall also comply with the confidentiality as stated
hereof.  The disclosure of confidential information by employees or
agents of the disclosing Party is deemed to be an act of the disclosing Party,
and such disclosing Party shall bear all liabilities for any breach of
confidentiality.

      


      保密条款。各方承认并同意保证与此文件相关的所有口头或书面往来资料的保密性。未经其他方的预先书面允许,任何一方不得向第三方提供保密信息
。但下述除外:a. 提供时已为公众获悉(除非该信息未经披露方授权即向公众披露);b.或依法律、法规股票、证券交易市场规则披露的信息;c.基于本协议载明交易之目的,依各方的法律顾问或财务顾问要求向其披露的信息。但是,该法律顾问或财&
#21153;顾问也应当遵守此节提出的保密要求。任何一方的员工或者代理人披露保密信息行为应被视为该方的行为,并且该方应承担违反保密义务的责任。

      


      13.           Dispute
Resolution.

       

      争议的解决。

       

      
        
          
          

        

        
          
            -13-

            
              Equity
Pledge Agreement

              JINJIANG
YINGLIN JINDUREN DRESS Co. , LTD.

            

          

          
            

          

        

        
          
          

        

      

       

      13.1           This
Agreement shall be governed by and construed in accordance with the laws of the
PRC.

      


      本协议的应适用中华人民共和国的法律和依此解释。

      


      13.2           The
Parties shall strive to resolve any disputes arising from the interpretation or
performance of this Agreement through amicable negotiations.  If a
dispute cannot be settled, any Party may submit such dispute to China
International Economic and Trade Arbitration Commission (“CIETAC”) for
arbitration.  The arbitration shall abide by the then current rules of
CIETAC, and the arbitration proceedings shall be conducted in Beijing, China in
Chinese.  The decision of CIETA shall be final and binding upon the
parties.

      


      各方应当友好磋商解决对本协议的解释和履行所引发的争议。如果通过协商,争议仍不能解决,各方可以将此争议提交中国国际经济贸易仲裁委员会根据那时有效的该会规则进行仲裁。仲裁应在北京进行,所有&
#31243;序以中文进行。仲裁结果是终局的,并对于各方有约束力。

      


      14.          
Notices.  Any
notice given by the parties hereto for the purpose of performing the rights and
obligations hereunder shall be in writing.  If such notice is
delivered by messenger, the time of receipt is the time when such notice is
received by the addressee; if such notice is transmitted by facsimile, the time
of receipt is the time when such notice is transmitted.  If the notice
does not reach the addressee by the end of the business day, the following
business day shall be the date of receipt.  The place of delivery is
the Party’s address as set forth in the signature pages hereto or the address
advised in writing including via facsimile.

      


      通知。任何一方发出的、为本协议项下行使权利和履行义务之目的的通知应当为书面形式。当上述通知以专人送交时,通知送达时间为通知实际到达被通知人的时间;当通知以传真形式传送,通知送达时间为接受传送时间。假如通知没在工
0316;日送达被通知人,该日的下一个工作日应视为送达日,递送地址为各方签字页上的地址,或是以传真等方式书面告知的地址。

      


      15.          
Entire
Contract.  The Parties agree that this Agreement constitutes
the entire agreement of the Parties upon its effectiveness and supersedes all
prior oral and/or written agreements and understandings relating to this
Agreement.

      


      协议的完整性。各方承认本协议一经生效即构成各方之间的完整协议,并取代任何先前和同时期所有的口头和/或书面协议及谅解。

      


      16.          
Severability.  If
any provision or provisions of this Agreement shall be held by a proper
authority to be invalid, illegal, unenforceable or in conflict with the laws and
regulations of the PRC, the validity, legality and enforceability of the
remaining provisions shall not in any way be affected or impaired
thereby.

      


      协议的可分性。如果本协议中某些规定经恰当的权威机关认定无效、非法、不可执行或与中国法律法规冲突,该无效条款不应影响或削弱其他条款的有效性、合法性和可执行性。

       

      
        
          
          

        

        
          
            -14-

            
              Equity
Pledge Agreement

              JINJIANG
YINGLIN JINDUREN DRESS Co. , LTD.

            

          

          
            

          

        

        
          
          

        

      

       

      17.          
Appendices.  The
appendices to this Agreement are incorporated into and are a part of this
Agreement.

      


      附录。该协议的附录构成协议的完整和必要部分。

      


      18.          
Amendment or
Supplement.

      


      改正和补充。

      


      18.1           The
Parties may amend this Agreement in writing, provided that such amendment shall
be duly executed and signed by the Pledgee, Jinduren Company, and such Pledgors
collectively holding a majority of the Equity Interests, and such amendment
shall thereupon become a part of this Agreement and shall have the same legal
effect as this Agreement.

      


      各方可用书面方式修改和补充本协议,修正应经质权人、劲都人公司以及合计持有多数股权的出质人适当签署。此等修正将成为本协议的一部分,并与本协议具有相同的法律效力。

      


      18.2           This
Agreement and any amendments, modification, supplements, additions or changes
hereto shall be in writing and come into effect upon being executed and stamped
by the parties hereto.

      


      协议和任何改正、修改、补充、附加及改变均应以书面方式,自各方签署并盖章之日起生效。

      


      19.          
Language and Copies of the
Agreement.  This Agreement shall be executed in English in four
(4) original copies.  Each Party shall receive one (1) original copy,
all of which shall be equally valid and enforceable.

      


      语言和协议的份数。本协议由英语制作四份。各方持有一份,每份具有相同的法律效力。

      


      [SIGNATURE
PAGE FOLLOWS]

      [以下是签字页]

       

      
        
          
          

        

        
          
            -15-

            
              Equity
Pledge Agreement

              JINJIANG
YINGLIN JINDUREN DRESS Co. , LTD.

            

          

          
            

          

        

        
          
          

        

      


      [SIGNATURE
PAGE]

      签字页

       

      IN WITNESS WHEREOF this
Agreement is duly executed by each Party or its legal representatives as of the
date first set forth above.

      


      兹证明,本协议由各方或者各方的法定代表人在首页所述日期签订。


       

      PLEDGEE:  Korea Jinduren
(Int’l) Dress Limited

       

      质权人: 韩国劲都人(国际)服饰有限公司

       

      Authorized
Representative: ______________________

      授权代表(签字)

      Name: WU,
Qingqing

      姓名: 吴青青

      Title:
Director

      职务: 董事

      


      
        
          
          

        

        
          
            -16-

            
              Equity
Pledge Agreement

              JINJIANG
YINGLIN JINDUREN DRESS Co. , LTD.

            

          

          
            

          

        

        
          
          

        

      


      PLEDGOR SIGNATURE
PAGE

      出质人签字

      


      PLEDGORS:

      出质人

      


      


      


      ____________________

      WU,
Qingqing

      吴青青

      ID Card
No.: ____________________

      身份证号

      Owns
65.91% of Jinjiang Yinglin Jinduren Dress Co., Ltd.

      持有晋江市英林劲都人服饰有限公司股权65.91%

      


      


      


      ____________________

      WU,
Zhifan

      吴志藩

      ID Card
No.: ____________________

      身份证号

      Owns
34.09% of Jinjiang Yinglin Jinduren Dress Co., Ltd.

      持有晋江市英林劲都人服饰有限公司股权34.09%

      


      
        
          
          

        

        
          
            -17-

            
              Equity
Pledge Agreement

              JINJIANG
YINGLIN JINDUREN DRESS Co. , LTD.

            

          

          
            

          

        

        
          
          

        

      

       

      ACKNOWLEDGED
BY:

      认可:                      

      JINDUREN COMPANY: 
Jinjiang Yinglin Jinduren Dress Co., Ltd

      劲都人公司: 
晋江市英林劲都人服饰有限公司

       

      Legal/Authorized
Representative: ______________________

      法定代表人/或被授权人(签字)

      Name: WU,
Zhifan

      姓名:吴志藩

      Title:
General Manager

      职务: 总经理

       

    

    
      
        
        

      

      
        
          -18-

          
            Equity
Pledge Agreement

            JINJIANG
YINGLIN JINDUREN DRESS Co. , LTD.