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Exhibit 10.76  

[Translation]  

 Comprehensive Credit-extension Agreement  

        Contract No.: ShenFaHangGaoXin ZongZi 20020001 

	Party A:	 	GaoXin sub-branch, Hangzhou Branch, Shenzhen Development Bank,
	

 	
 	

Address: No. 508, Wensan Rd. Hangzhou
	

 	
 	

Tel.: 0086571-88225363
	

 	
 	

Fax: 0086571-88225350
	
Party B:	
 	

UTStarcom Telecom Co. Ltd.
	

 	
 	

Address: No. 129, Wenyi Rd. Hangzhou
	

 	
 	

Tel.: 0086571-65542030
	

 	
 	

Fax: 0086571-65542058

        WHEREAS
Party B intended to apply for comprehensive credit extension to Party A, and Party A agreed to grant Party B such comprehensive credit extension after examination. In light of
the related laws, and through equal negotiation, both parties hereby reach the Agreement as follows and agree it is binding on them both: 

Article One: Terms on credit extension  

        1.    Maximum
credit extension margin (or in the equivalence) is RMB Four Hundred Million Yuan

        2.    Term
of the credit extension is totally Twelve months, from June 26 of 2002 to June 26 of 2003. During the term of the credit extension, Party B may use the
credit margin in the form of roll-over, but the summation of the credit margin already used by Party B shall not exceed the maximum credit margin. The usage manner, usage period, amount
and the like of the every sub-credit margin shall be negotiated by the parties, and the usage period can exceed the term of the comprehensive credit extension in the event such
sub-credit margin is commenced within the term of the comprehensive credit extension. 

Article Two: The form of the comprehensive credit extension  

        The comprehensive credit margin can be used in the form of loan, letter of credit, bill of exchange for import and export, guarantee for the production of bill of
lading, packing loan, discount, acceptance, letter of guarantee and warranty. 

Article Three: The Usage of the comprehensive credit extension  

        Party B may apply to Party A for usage of the comprehensive credit extension, after examination and agreed by Party A, the Parties shall thereby execute the
relative business contract. 

Article Four: Surety for the comprehensive credit margin  

        To ensure the prompt repayment of the debt under this Agreement, the following means of security are adopted: 

        1.    All
of the debt of Party B under this Agreement shall be jointly warranted by UTStarcom (China) Co., Ltd.; which signed the Comprehensive Credit Margin Guarantee
Contract with Party A at the contract no. as "ShenFaHangGaoXinZongBao20020001". 

 

Article Five: Governing Law and Settlement of Disputes  

        This Agreement is concluded according to and governed by the law of the People's Republic of China. Both Parties shall settle through friendly negotiation or
mediation any dispute arising out of or relating with the performance of this Agreement. If negotiation or mediation fails, either party may file an action at the court at the site of which Party A is
located. 

Article Six: Effectiveness of This Agreement  

        This Agreement comes into effect when both Parties sign and seal this Agreement and when the Contract of Security for this Agreement has been executed and all
necessary registration has been completed. 

Article Seven: This Agreement has four originals with same effectiveness, among which Party A has two, Party B has one and Guarantor has one. 

	Party A (Stamp)	 	Party B (Stamp)
	

Legal representative	
 	

Legal representative
	

Date: June 26, 2002	
 	

 

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Translation Certification    
  

        I hereby certify that the foregoing represents a fair and accurate English translation of the original Chinese document. 

Dated:
July 30, 2002 

	 	 	By:	 	/s/  MICHAEL J. SOPHIE      
 Michael J. Sophie
 Chief Financial
Officer

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Exhibit 10.77  

 
 

MERGER AGREEMENT    
    
    BY AND BETWEEN    
    
    UTSTARCOM TELECOM CO., LTD.    
    
    AND    
    
    GUANGDONG UTSTARCOM TELECOM CO. LTD.    
    
    June 10,
2002    
  

        THIS MERGER AGREEMENT (the "Agreement") is made as of June 10, 2002 by and between: 

        UTStarcom
Telecom Co., Ltd. ("HUTS"), a wholly foreign owned enterprise incorporated under the law of People's Republic of China
("PRC") with its legal address at Buildings No. 2 and 3, Yile Industry Zone, No. 129 Wenyi Road, Hangzhou. Zhejiang Province, PRC (its
legal representative is Ying Wu); and 

        Guangdong
UTStarcom Telecom Co. Ltd. ("GUTS"), a wholly foreign owned enterprise incorporated under the PRC with its legal address
at No. 4, Yunshan East Road, Huizhou, Guangdong Province, PRC (its legal representative is Shao-Ning Chou). 

        HUTS and GUTS are both subsidiaries of UTStarcom, Inc., and intend to make and
implement a merger of the undertakings of GUTS with and into HUTS pursuant to the terms of this Agreement. The primary purpose of this merger is to consolidate the operations of GUTS and HUTS into one
subsidiary entity, to improve the operational efficiencies of UTStarcom, Inc. 

        IT IS AGREED as follows: 

1.    MERGER  

        1.1  Subject
to the terms and conditions of this Agreement, the parties hereto agree to the merger of GUTS with and into HUTS (the
"Merger") by means of absorption. In the Merger, HUTS shall be the surviving corporation and GUTS shall be dissolved and absorbed into HUTS. 

        1.2  After
the completion of the Merger: 

        1.2.1 HUTS's
name, address and legal representative shall remain unchanged. 

        1.2.2 GUTS
shall be dissolved and cancelled. 

        1.2.3 The
total amount of investment of HUTS shall be the sum of the total amount of investment of HUTS and GUTS, i.e., USD 28,000,000. The registered capital of HUTS shall be the
sum of the registered capital of HUTS and GUTS, i.e., USD 16,440,000. 

        1.2.4 100%
equity of HUTS shall be held by UTStarcom, Inc. 

        1.2.5 The
Articles of Association of HUTS in effect immediately prior to the date of this Agreement shall remain unchanged except for necessary amendments in relation to this
Merger and shall continue to be the Articles of Association of HUTS. 

2.    MERGER OF PROPERTIES, ASSETS AND LIABILITIES  

        2.1  All
properties, assets, rights, debts and other obligations of GUTS shall be merged into HUTS unconditionally pursuant to Appendix I. 

3.    ALLOCATION OF EMPLOYEES OF GUTS  

        3.1  All
employees of GUTS shall be allotted pursuant to Appendix II. 

4.    COMPLETION  

        4.1  The
completion of the Merger shall take place subject to the satisfaction of the following conditions: 

        4.1.1 passing
at a duly convened board meeting of either HUTS or GUTS of an ordinary resolution approving this Merger; 

        4.1.2 duly
execution of this Merger Agreement by HUTS and GUTS; 

        4.1.3 all
necessary approvals of the competent government authorities of the PRC having been obtained; 

 

        4.1.4 the
post-merger business license of HUTS having been issued by the competent government authority of the PRC ("Merger
Date"); and 

        4.1.5 HUTS
and GUTS have completed all necessary publications, registrations and other matters in relation to this Merger as may be required pursuant to PRC laws and regulations. 

        4.2  To
satisfy the conditions set out in Clauses 4.1, each party agrees to: 

        4.2.1 use
all reasonable endeavors to do and execute, or procure to be done and executed, all necessary acts, deeds, documents and things within their power to effect and complete
the Merger on the terms and subject to the conditions herein and to give effect to all matters related to the Merger; 

        4.2.2 co-operate
with a view to obtain all necessary government approvals and comply with the legal requirements (including the making of announcements) in connection
with the Merger being obtained or complied with; and 

        4.2.3 provide
the other party promptly with all necessary information reasonably required by such party for the preparation of any documents required for the Merger or under this
Agreement. 

5.    TRANSFER OF PROPERTIES, RIGHTS AND INTERESTS  

        5.1  Upon
obtaining the post-merger business license by HUTS, both parties shall co-operate with each other in transferring to HUTS all properties of
GUTS and contracts and/or agreements effective as of the Merger Date to which GUTS is a party. 

        5.2  The
change-registration of the title to the real properties and intellectual properties of GUTS shall be completed within, three (3) months after the Merger Date.
Other properties of GUTS shall be deemed as having been transferred to HUTS as of the Merger Date. 

6.    CLEARANCE AND SUCCESSION OF CREDITS AND DEBTS  

        6.1  Upon
the completion of the Merger, all credits of GUTS shall be succeeded by HUTS. 

        6.2  Both
parties shall issue written notifications to its creditors within ten (10) days after obtaining the preliminary approval from the competent approval
authority, and, within thirty (30) days, announce the Merger three times in a nationally circulated newspaper at or above the provincial level. Upon the requests of creditors, both parties
shall make full repayment or provide corresponding security to such creditors. All debts pending as of the Merger Date shall be succeeded by HUTS. 

7.    REPRESENTATIONS AND WARRANTIES  

        7.1  Each
party hereto represents and warrants to the other party as follows: 

        7.1.1 The
facts and information set out in this Agreement in relation to itself are true and accurate in all material respects; 

        7.1.2 It
is a company duly established under the laws of the PRC and has been in continuous existence since establishment, and is validly existing and in good standing under the
laws of the PRC; 

        7.1.3 It
has the full capacity, right, power and authority and has taken all action necessary to execute and deliver this Agreement. The obligations of each party under this
Agreement are legal, valid, binding and enforceable in accordance with their terms; 

2

 

        7.1.4 Each
of the party has obtained all necessary approvals, consents and permissions required in accordance with applicable PRC laws for it to exercise its rights and to
undertake and to perform its obligations under this Agreement. All such approvals, consents and permissions are valid, subsisting and there is no circumstance known to each of the party that any such
approvals, consents or permissions may be withdrawn, suspended or terminated. This warranty is given as at the completion of this Merger only; 

        7.1.5 Neither
the execution nor the performance of this Agreement or any document to be executed at or before the completion of this Merger will result in it losing the benefit of
any asset, grant, subsidy, right or privilege which it enjoys at the date of this Agreement and which would have a material adverse effect an the business or operation of each party; or will conflict
with, or result in a breach of, or give rise to an event of default under, or enable a person to terminate, or relieve a person from an obligation under, any agreement or arrangement to which each
party is a party and which would have a material adverse effect on its business or operation; or any legal or administrative requirement by which it is bound and which would have a material adverse
effect on its business or operation; and 

        7.1.6 It
is not involved in any legal proceedings which would reasonably be expected to have a material adverse effect on its business or operation as of the date of this
Agreement. 

        7.1.7 Each
party intends that HUTS, as the surviving entity, shall continue to use those assets acquired and developed by GUTS during the latter's existence as part of the
surviving entity's continuing business operations. 

8.    TERMINAT1ON  

        8.1  This
Agreement shall terminate: 

        8.1.1 at
any time by mutual written agreement of the parties hereto; or 

        8.1.2 the
Merger is rejected by the competent government authorities. 

        8.2  The
termination shall not affect the rights and obligations of the parties accrued prior to such termination. 

9.    GENERAL  

        9.1  This
Agreement shall become effective upon its duly execution by both parties. 

        9.2  The
failure to exercise or delay is exercising a right or remedy under this Agreement shall not constitute a waiver of the right or remedy or waiver of any rights or
remedies and no single or partial exercise of any right or remedy under this Agreement shall prevent any further exercise of the right or remedy or the exercise of any other right or remedy, 

        9.3  This
Agreement shall supersede all and any previous agreements, negotiations, understanding or arrangements between the parties hereto or any other matter referred to in
this Agreement and all or any such previous agreements, negotiations, understanding or arrangements (if any) shall cease and determine with effect from the date hereof. 

        9.4  If
any term or provision of this Agreement shall become of be declared illegal, invalid or unenforceable for any reason whatsoever, such term or provision shall be
severed from this Agreement and shall be deemed to be deleted from this Agreement provided always that if such deletion materially affects or alters the commercial basis of this Agreement, the parties
shall negotiate in good faith to amend and modify the provisions and terms of this Agreement as may be necessary or desirable is the circumstances. 

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10.  COSTS AND EXPENSES  

        10.1 each
of the parties to this Agreement shall bear its own costs and expenses incurred in relation to the preparation of this Agreement; and 

        10.2 the
cost of implementing the Merger, including all stamp duty payable in respect of the carrying into effect of this Agreement and the Merger, shall be borne by the
relevant party to this Agreement. 

11.  LIABILITY FOR BREACH OF CONTRACT  

        11.1 Each
party hereto shall be liable to compensate the other party for any losses sustained thereby due to any breach conducted by such party of any representation or
warranty made by such Party hereunder, or inaccuracy of its representations or warranties, or any breach or non-performance of any of its agreements, covenants and obligations hereunder. 

12.  GOVERNING LAW AND DISPUTE RESOLUTION  

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

        12.2 Any
dispute arising out of or in connection with this Agreement shall be submitted to China International Economic and Trade Arbitration
Commission for arbitration in accordance with its rules. Such arbitration shall be conducted in Beijing. The arbitral award shall be final and binding upon both parties. 

        IN WITNESS, this Agreement has born entered into the day and year first above written. 

	 	 	UTSTARCOM TELECOM CO., LTD.
	

 	
 	

/s/  YING WU      
Authorized Representative
	

 	
 	

[Stamp]
	

 	
 	
GUANGDONG UTSTARCOM TELECOM CO. LTD.
	

 	
 	

/s/  SHAO-NING CHOU      
Authorized Representative
	

 	
 	

[Stamp]

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Translation Certification    
  

        I hereby certify, under penalty of perjury of the laws of the State of California, that I have provided English translations of the following documents, and that
each such translation represents a fair and accurate English translation of the original Chinese document 

	—
	Merger
Agreement By and Between UTStarcom Telecom Co., Ltd. and Guangdong UTStarcom Telecom Co., Ltd., dated June 10, 2002. 

Dated:
August 3, 2002 

	 	 	By:	 	/s/  SHI WENQIAN      
 Shi Wenqian
 Corporate
Attorney—UTStarcom China Co., Ltd.

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MERGER AGREEMENT BY AND BETWEEN UTSTARCOM TELECOM CO., LTD. AND GUANGDONG UTSTARCOM TELECOM CO. LTD. June 10, 2002

Translation Certification

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