Document:

Exhibit
10.1

    

    AGREEMENT

     

    This
Agreement (this “Agreement”) is made
and entered into as of December 16, 2010, by and among SeaChange International,
Inc. (the “Company” or “SeaChange”) and the
entities and natural persons listed on Exhibit A hereto (collectively, the
“Ramius Group”)
(each of the Company and the Ramius Group, a “Party” to this
Agreement, and collectively, the “Parties”).

     

    RECITALS:

     

    WHEREAS,
the Company and the Ramius Group have engaged in various discussions and
communications concerning the Company’s business, financial performance and
strategic plans;

     

    WHEREAS,
the Company and the members of the Ramius Group entered into that certain
Settlement Agreement dated as of June 3, 2010 (the “2010 Settlement”) with
respect to the composition of the Board, certain matters related to the 2010
Annual Meeting and certain other matters, as provided therein; and

     

    WHEREAS
the Company and the members of the Ramius Group have determined to come to an
agreement with respect to the composition of the Board, certain matters related
to the 2011 annual meeting of stockholders of the Company (including any
adjournment or postponement thereof, the “2011 Annual Meeting”)
and certain other matters, as provided in this Agreement.

     

    NOW,
THEREFORE, in consideration of the foregoing premises and the mutual covenants
and agreements contained herein, and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties
hereto, intending to be legally bound hereby, agree as follows:

     

    1.           Board Matters; Board
Appointments; 2011 Annual Meeting; Committees.

     

    (a)           Upon
execution of this Agreement, the Company will take all necessary actions to (i)
reconstitute the classes of the Board such that Carmine Vona shall become a
Class I director with a term expiring at the Company’s 2012 annual meeting of
stockholders (the “2012 Annual
Meeting”), and (ii) appoint Peter A. Feld as a Class III director to fill
the vacancy on the Board created by the resignation of ReiJane Huai as a
director of the Company.

     

    (b)           The
Company agrees that it shall take all necessary actions to re-nominate Raghu
Rau, or the Rau Replacement Director (as such term is defined in the 2010
Agreement), if applicable, for election to the Board as a Class III director at
the 2011 Annual Meeting and recommend, support and solicit proxies for the
election of Mr. Feld and Mr. Rau or the Rau Replacement Director, if applicable,
in the same manner as for the Company’s slate of nominees who are up for
election at the 2011 Annual Meeting (collectively, the “2011
Nominees”).  The 2011 Annual Meeting shall be held no later
than July 22, 2011.

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    (c)           The
Company agrees that if Mr. Feld is unable to serve as a director, resigns as a
director or is removed as a director prior to the 2012 Annual Meeting, the
Ramius Group shall have the ability to recommend a substitute person(s), who
will qualify as “independent” pursuant to NASDAQ listing standards, to replace
Mr. Feld, subject to the approval of the Company’s Corporate Governance and
Nominating Committee in good faith after exercising its fiduciary duties, which
approval shall not be unreasonably withheld (any such replacement nominee
appointed in accordance with the provisions of this clause (c) shall be referred
to as the “Feld
Replacement Director”).  In the event the Corporate Governance
and Nominating Committee does not accept a substitute person recommended by the
Ramius Group, the Ramius Group will have the right to recommend additional
substitute person(s) for consideration by the Corporate Governance and
Nominating Committee. Upon the acceptance of a replacement director nominee by
the Corporate Governance and Nominating Committee, the Board will appoint such
replacement director to the Board no later than five (5) business days after the
Corporate Governance and Nominating Committee’s recommendation of such
replacement director.  Upon appointment to the Board, the Feld
Replacement Director shall be appointed to the Advisory Committee (as described
and defined in clause (g) below).

     

    (d)           At
the 2011 Annual Meeting, the Ramius Group agrees to appear in person or by proxy
and vote all shares of common stock of the Company beneficially owned by it and
its affiliates in favor of the election of the 2011 Nominees and in favor of the
ratification of the Company’s independent registered public accounting
firm.

     

    (e)           Neither
the Ramius Group nor any member of the Ramius Group shall (i) nominate any
person for election at the 2011 Annual Meeting or (ii) submit any proposal for
consideration at, or bring any other business before, the 2011 Annual Meeting,
directly or indirectly.  The Ramius Group shall not publicly or
privately encourage or support any other stockholder to nominate any person for
election at the 2011 Annual Meeting.

     

    (f)           The
Company agrees that the size of the Board shall remain fixed at eight (8)
members until the conclusion of the Company’s 2012 Annual
Meeting.  The 2012 Annual Meeting shall be held no later than July 31,
2012.

     

    (g)           Upon
the execution of this Agreement, the Company agrees that the Board will
immediately establish an independent committee (to be named the Independent
Advisory Committee) composed of four independent directors including Peter Feld
(who shall be Chair), Raghu Rau, Thomas Olson and Carmine Vona (the “Advisory
Committee”).  The responsibilities of the Advisory Committee
will be as set forth in the Advisory Committee’s charter, the provisions of
which will be mutually agreeable to the Company and the Ramius Group (the
“Charter”), provided, however, if the terms
of the Charter, as mutually agreed to by the Company and the Ramius Group, are
materially amended or breached without the approval of Peter Feld or the Feld
Replacement Director, as applicable, then the Ramius Group’s obligations under
Sections 1(d) and 1(e) of this Agreement shall terminate.

     

    2.           Representations and
Warranties of the Company.

     

    The
Company represents and warrants to the Ramius Group that (a) the Company has the
corporate power and authority to execute this Agreement and to bind it thereto,
(b) this Agreement has been duly and validly authorized, executed and delivered
by the Company, constitutes a valid and binding obligation and agreement of the
Company, and is enforceable against the Company in accordance with its terms,
except as enforcement thereof may be limited by applicable bankruptcy,
insolvency, reorganization, moratorium, fraudulent conveyance or similar laws
generally affecting the rights of creditors and subject to general equity
principles and (c) the execution, delivery and performance of this Agreement by
the Company does not and will not violate or conflict with (i) any law,
rule, regulation, order, judgment or decree applicable to it, or
(ii) result in any breach or violation of or constitute a default (or an
event which with notice or lapse of time or both could become a default) under
or pursuant to, or result in the loss of a material benefit under, or give any
right of termination, amendment, acceleration or cancellation of, any
organizational document, agreement, contract, commitment, understanding or
arrangement to which the Company is a party or by which it is
bound.

    
      
         

      

      
        - 2
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    3.           Representations and
Warranties of the Ramius Group.

     

    The
Ramius Group shall cause its Affiliates to comply with the terms of this
Agreement. The Ramius Group represents and warrants to the Company that
(a) the authorized signatory of the Ramius Group set forth on the signature
page hereto has the power and authority to execute this Agreement and to bind it
thereto this Agreement, (b) this Agreement has been duly authorized,
executed and delivered by the Ramius Group, and is a valid and binding
obligation of the Ramius Group, enforceable against the Ramius Group in
accordance with its terms, except as enforcement thereof may be limited by
applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent
conveyance or similar laws generally affecting the rights of creditors and
subject to general equity principles, (c) the execution of this Agreement,
the consummation of any of the transactions contemplated hereby, and the
fulfillment of the terms hereof, in each case in accordance with the terms
hereof, will not conflict with, or result in a breach or violation of the
organizational documents of the Ramius Group as currently in effect and
(d) the execution, delivery and performance of this Agreement by each
member of the Ramius Group does not and will not violate or conflict with
(i) any law, rule, regulation, order, judgment or decree applicable to it,
or (ii) result in any breach or violation of or constitute a default (or an
event which with notice or lapse of time or both could become a default) under
or pursuant to, or result in the loss of a material benefit under, or give any
right of termination, amendment, acceleration or cancellation of, any
organizational document, agreement, contract, commitment, understanding or
arrangement to which such member is a party or by which it is
bound.

     

    4.           Press
Release.

     

    Promptly
following the execution of this Agreement, the Company and the Ramius Group
shall jointly issue a mutually agreeable press release (the “Mutual Press
Release”) announcing the terms of this Agreement, in the form attached
hereto as Exhibit B.  Prior to the issuance of the Mutual Press
Release, neither the Company nor the Ramius Group shall issue any press release
or public announcement regarding this Agreement without the prior written
consent of the other party.

     

    5.           Specific
Performance.

     

    Each of
the members of the Ramius Group, on the one hand, and the Company, on the other
hand, acknowledges and agrees that irreparable injury to the other party hereto
would occur in the event any of the provisions of this Agreement were not
performed in accordance with their specific terms or were otherwise breached and
that such injury would not be adequately compensable in damages.  It
is accordingly agreed that the members of the Ramius Group or any of them, on
the one hand, and the Company, on the other hand (the “Moving Party”), shall
each be entitled to specific enforcement of, and injunctive relief to prevent
any violation of, the terms hereof, and the other party hereto will not take
action, directly or indirectly, in opposition to the Moving Party seeking such
relief on the grounds that any other remedy or relief is available at law or in
equity.

    
      
         

      

      
        - 3
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    6.     
      Expenses.

     

    The
Company shall reimburse the Ramius Group for its reasonable, documented out of
pocket fees and expenses (including legal expenses) incurred in connection with
the matters related to the 2011 Annual Meeting and the negotiation and execution
of this Agreement, provided that such reimbursement shall not exceed $5,000 in
the aggregate.

     

    7.        
   Severability.

     

    If any
term, provision, covenant or restriction of this Agreement is held by a court of
competent jurisdiction to be invalid, void or unenforceable, the remainder of
the terms, provisions, covenants and restrictions of this Agreement shall remain
in full force and effect and shall in no way be affected, impaired or
invalidated. It is hereby stipulated and declared to be the intention of the
parties that the parties would have executed the remaining terms, provisions,
covenants and restrictions without including any of such which may be hereafter
declared invalid, void or unenforceable. In addition, the parties agree to use
their best efforts to agree upon and substitute a valid and enforceable term,
provision, covenant or restriction for any of such that is held invalid, void or
enforceable by a court of competent jurisdiction.

     

    8.     
      Notices.

     

    Any
notices, consents, determinations, waivers or other communications required or
permitted to be given under the terms of this Agreement must be in writing and
will be deemed to have been delivered: (i) upon receipt, when delivered
personally; (ii) upon receipt, when sent by facsimile (provided
confirmation of transmission is mechanically or electronically generated and
kept on file by the sending party); or (iii) one (1) business day after
deposit with a nationally recognized overnight delivery service, in each case
properly addressed to the party to receive the same. The addresses and facsimile
numbers for such communications shall be:

     

    If to the
Company:

    

    SeaChange
International, Inc.

    50 Nagog
Park

    Acton,
MA  01720

    Attention:
Chief Financial Officer

    Facsimile:
(978) 897-9590

    

    With a
copy to:

    

    Choate,
Hall & Stewart LLP

    Two
International Place

    Boston,
MA  02110

    Attention:
William B. Asher, Jr.

    Facsimile:
(617) 248-4000

    
      
         

      

      
        - 4
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    If to the
Ramius Group or any member of the Ramius Group:

    

    Ramius Value and Opportunity Master
Fund Ltd

    c/o Ramius Value and Opportunity Advisors
LLC

    599 Lexington Avenue, 20th
Floor

    New York, New York 10022

    Attention: Owen S. Littman

    Telephone:
(212) 201-4841

    Facsimile:
(212) 845-7986

    

    With a
copy to:

    

    Olshan
Grundman Frome Rosenzweig & Wolosky LLP

    Park
Avenue Tower

    65 East
55th Street

    New York,
New York 10022

    Attention:
Steven Wolosky, Esq.

    Facsimile:
(212) 451-2222

    

    9.      
     Applicable
Law.

     

    This
Agreement shall be governed by and construed and enforced in accordance with the
laws of the State of Delaware without reference to the conflict of laws
principles thereof. Each of the Parties hereto irrevocably agrees that any legal
action or proceeding with respect to this Agreement and the rights and
obligations arising hereunder, or for recognition and enforcement of any
judgment in respect of this Agreement and the rights and obligations arising
hereunder brought by the other party hereto or its successors or assigns, shall
be brought and determined exclusively in the Delaware Court of Chancery and any
state appellate court therefrom within the State of Delaware (or, if the
Delaware Court of Chancery declines to accept jurisdiction over a particular
matter, any state or federal court within the State of Delaware). Each of the
Parties hereto hereby irrevocably submits with regard to any such action or
proceeding for itself and in respect of its property, generally and
unconditionally, to the personal jurisdiction of the aforesaid courts and agrees
that it will not bring any action relating to this Agreement in any court other
than the aforesaid courts. Each of the parties hereto hereby irrevocably waives,
and agrees not to assert in any action or proceeding with respect to this
Agreement, (i) any claim that it is not personally subject to the
jurisdiction of the above-named courts for any reason, (ii) any claim that
it or its property is exempt or immune from jurisdiction of any such court or
from any legal process commenced in such courts (whether through service of
notice, attachment prior to judgment, attachment in aid of execution of
judgment, execution of judgment or otherwise) and (iii) to the fullest
extent permitted by applicable legal requirements, any claim that (A) the
suit, action or proceeding in such court is brought in an inconvenient forum,
(B) the venue of such suit, action or proceeding is improper or
(C) this Agreement, or the subject matter hereof, may not be enforced in or
by such courts.

    
      
         

      

      
        - 5
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    10.          Counterparts.  This
Agreement may be executed in one or more counterparts which together shall
constitute a single agreement.

     

    11.          Entire Agreement; Amendment
and Waiver; Successors and Assigns.

     

    This
Agreement and the 2010 Settlement contain the entire understanding of the
parties hereto with respect to its subject matter.  There are no
restrictions, agreements, promises, representations, warranties, covenants or
undertakings between the parties other than those expressly set forth
herein.  No modifications of this Agreement can be made except in
writing signed by an authorized representative of each the Company and the
Ramius Group. No failure on the part of any party to exercise, and no delay in
exercising, any right, power or remedy hereunder shall operate as a waiver
thereof, nor shall any single or partial exercise of such right, power or remedy
by such party preclude any other or further exercise thereof or the exercise of
any other right, power or remedy.  All remedies hereunder are
cumulative and are not exclusive of any other remedies provided by
law.  The terms and conditions of this Agreement shall be binding
upon, inure to the benefit of, and be enforceable by the parties hereto and
their respective successors, heirs, executors, legal representatives, and
permitted assigns. No party shall assign this Agreement or any rights or
obligations hereunder without, with respect to any member of the Ramius Group,
the prior written consent of the Company, and with respect to the Company, the
prior written consent of the Ramius Group.

     

    12.          Prior
Agreements.

     

    Each of
the Parties covenants and agrees that this Agreement is not intended to amend,
supersede or otherwise replace the 2010 Settlement, except as specifically set
forth herein.  In the event of any conflict between the terms of this
Agreement and the 2010 Settlement, the terms of this Agreement shall
control.

     

    [The remainder of this page
intentionally left blank]

    
      
         

      

      
        - 6
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    IN
WITNESS WHEREOF, this Agreement has been duly executed and delivered by the duly
authorized signatories of the parties as of the date hereof.

     

    
      
        	
                SEACHANGE
      INTERNATIONAL, INC.

              
	 
      
	
                By: 

              	
                /s/ William C.
Styslinger

              
	 
      	
                Name:   William
      C. Styslinger, III

              
	 
      	
                Title:  Chief
      Executive Officer

              

      

    

    

    THE
RAMIUS GROUP:

    

    
      
        	
                RAMIUS
      VALUE AND OPPORTUNITY

              	
                RAMIUS
      VALUE AND OPPORTUNITY

              
	
                MASTER
      FUND LTD

              	
                ADVISORS
      LLC

              
	
                By:
      Ramius Value and Opportunity Advisors LLC,

              	
                By:
      Ramius LLC,

              
	
                its
      investment manager

              	
                its
      sole member

              
	 
      	 
      
	
                RAMIUS
      NAVIGATION MASTER FUND LTD

              	
                RAMIUS
      ADVISORS, LLC

              
	
                By:
      Ramius Advisors, LLC,

              	
                By:
      Ramius LLC,

              
	
                its
      investment advisor

              	
                its
      sole member

              
	 
      	 
      
	
                RAMIUS
      ENTERPRISE MASTER FUND LTD

              	
                RAMIUS
      LLC

              
	
                By:
      Ramius Advisors, LLC,

              	
                By:
      Cowen Group, Inc.,

              
	
                its
      investment advisor

              	
                its
      sole member

              
	 
      	 
      
	
                RCG
      PB, LTD

              	
                COWEN
      GROUP, INC.

              
	
                By:
      Ramius Advisors, LLC,

              	 
      
	
                its
      investment advisor

              	
                RCG
      HOLDINGS LLC

              
	 
      	
                By:
      C4S & Co., L.L.C.,

              
	
                COWEN
      OVERSEAS INVESTMENT LP

              	
                its
      managing member

              
	
                By:
      Ramius Advisors, LLC,

              	 
      
	
                its
      general partner

              	
                C4S
      & CO., L.L.C.

              

      

    

    

    
      
        	
                By:   

              	
                /s/ Own S. Littman

              
	 
      	
                Name:   Owen
      S. Littman

              
	 
      	
                Title:     Authorized
      Signatory

              

      

    

    

    
      
        	
                
                  /s/
      Owen S. Littman

                

              
	
                OWEN
      S. LITTMAN

              
	
                Individually
      and as attorney-in-fact for Jeffrey

              
	
                M.
      Solomon, Peter A. Cohen, Morgan B. Stark

              
	
                and
      Thomas W. Strauss

              

      

    

    

    
      
        	
                
                  /s/
      Peter A. Feld

                

              
	
                PETER
      A. FELD

              

      

    

    
      
         

      

      
        - 7
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    EXHIBIT
A

    

    The Ramius
Group

    

    RAMIUS
VALUE AND OPPORTUNITY MASTER FUND LTD

    RAMIUS
NAVIGATION MASTER FUND LTD

    RCG PB,
LTD

    RAMIUS
ENTERPRISE MASTER FUND LTD

    COWEN
OVERSEAS INVESTMENT LP

    RAMIUS
ADVISORS, LLC

    RAMIUS
VALUE AND OPPORTUNITY ADVISORS LLC

    RAMIUS
LLC

    COWEN
GROUP, INC.

    RCG
HOLDINGS LLC

    C4S &
CO., L.L.C.

    PETER A.
COHEN

    MORGAN B.
STARK

    THOMAS W.
STRAUSS

    JEFFREY
M. SOLOMON

    PETER A.
FELD

    
      
         

      

      
        - 8
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    EXHIBIT
B

    
      
         

      

      
        - 9
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                  Contact:

                	
                  Jim
      Sheehan

                	
                  Martha
      Schaefer

                
	 
      	
                  SeaChange
      PR

                	
                  SeaChange
      IR

                
	 
      	
                  1-978-897-0100
      x3064

                	
                  1-978-897-0100
      x3030

                
	 
      	
                  jim.sheehan@schange.com

                	
                  martha.schaefer@schange.com

                

        

      

    

    

    SEACHANGE
INTERNATIONAL APPOINTS PETER A. FELD

    TO
ITS BOARD OF DIRECTORS

    

    Board
Forms Independent Advisory Committee

    

    ACTON,
Mass. (Dec. xx, 2010) – SeaChange International, Inc. (NASDAQ: SEAC), the
leading global multi-screen video software company, today announced the
appointment of Peter A. Feld to its Board of Directors.  Mr. Feld, a
Managing Director of Ramius LLC and a Portfolio Manager of the Ramius Value
& Opportunity Fund (“Ramius”), replaces ReiJane Huai as a director, whose
resignation was accepted by the Board and announced by SeaChange on Nov.
16.  Ramius currently owns approximately 8.4% of the outstanding
shares of SeaChange.

    

    Mr.
Feld was also appointed Chairman of the newly-created Independent Advisory
Committee of SeaChange’s Board (the “Committee”).  The Committee will
be made up of four independent directors including Mr. Feld, Thomas Olson, Raghu
Rau, and Carmine Vona.  The Committee will work with management and
the Board to advise and support them in a broad range of business development
and other initiatives.

    

    Mr.
Feld joins SeaChange’s Board as a Class III Director to be elected for a
three-year term at the 2011 Annual Meeting.  Separately, Carmine Vona,
Lead Director of SeaChange’s Board, has moved to Class I and will be elected for
a three-year term at the 2012 Annual Meeting.

    

    “SeaChange
is pleased to further strengthen its Board of Directors with the appointment of
Peter Feld,” said Bill Styslinger, SeaChange CEO & Chairman.  “We
look forward to working with Peter, the other directors, and our employees
towards a common goal of delivering best-in-class products and services to our
customers and creating value for our shareholders.  We remain
committed to driving improved profitability during fiscal 2012 across all of our
businesses.”

    

    “I am pleased to join the Board of
SeaChange and look forward to working with my fellow directors to realize the
full potential of SeaChange’s valuable businesses.  SeaChange has a
leading customer base and a strong technology platform both of which are key
components for the future success of the Company.  As a representative
of one of the Company’s largest shareholders, I will work to ensure that the
best interests of shareholders are represented on the board,” said Mr.
Feld.
 

    
      
         

      

      
        - 10
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    (more)
 

    SeaChange
BOD Welcomes Feld/Page 2

    

    Mr.
Peter A. Feld (Age 31)

    

    Mr.
Feld is a Managing Director of Ramius LLC and a Portfolio Manager of the Ramius
Value & Opportunity Fund, a position he has held since November
2008.  Prior to becoming a Managing Director, Mr. Feld served as a
Director at Ramius LLC from February 2007 to November 2008.  Mr. Feld
joined Ramius LLC as an Associate in February 2005.  From June 2001 to
July 2004, Mr. Feld was an investment banking analyst at Banc of America
Securities, LLC, the investment banking arm of Bank of America Corporation, a
bank and financial holding company.  Mr. Feld previously served on the
Board of Directors of CPI Corp. (NYSE: CPY), a leading portrait studio operator
in North America.

    

    
      About
SeaChange International

    

    
      SeaChange International (NASDAQ: SEAC)
is the global leader in multi-screen video and one of the largest software
companies worldwide. The Company provides innovative, Emmy award-winning
solutions and services for back office, advertising, content, in-home devices
and broadcast to hundreds of media companies, including blue chip companies such
as Comcast, Virgin Media, AT&T, Hutchison Whampoa, Vodacom and DISH Network.
Headquartered in Acton, Massachusetts, SeaChange has product development,
support and sales offices around the world. Visit
www.schange.com

    

    ###

    
      
         

      

      
        - 11
-Unassociated Document

    Exhibit
10.4

    SHARE
SALE AGREEMENT

     

    This
SHARE SALE AGREEMENT (the “Agreement”), dated as of
December 9, 2010 by and among Bright Elite Management Limited (“Transferor”), and LAM Wai Kei
(HKID: K192698(5)) (“Transferee”).

     

    WHEREAS,
the Transferors have agreed to sell an aggregate of 100,000 shares of common
stock of China MediaExpress Holdings, Inc. (the “Company”) to the Transferee,
for good and valuable consideration as described below.

     

    NOW,
THEREFORE, the parties hereto agree as follows:

     

    ARTICLE
1

    Purchase
and Sale

     

    Section
1.  Transfer of the
Founder Shares.  (a) Transferor hereby transfers (the “Transfer”) to Transferee such
number of shares of the Company’s common stock (the “Shares”) set forth on Annex A
hereto opposite its name against the simultaneous delivery by wire transfer to
an account previously specified in writing by Transferor to Transferee of the
consideration specified in such Annex A.

     

    (b)         Transferor
shall cause Company’s transfer agent, Continental Stock Transfer & Trust
Company (“CST”) to (i)
irrevocably transfer to Transferee the Shares and (ii) provide written evidence
satisfactory to Transferee and its counsel of the occurrence of (i),
above.

     

    ARTICLE
2

    Representations
and Warranties of Transferor

     

    Transferor
represents and warrants to Transferee as of the date hereof that:

     

    Section
2.01.  Authority.  Transferor
has full legal right, power and authority to enter into and perform its
obligations under this Agreement and to transfer the Shares under this
Agreement.  This Agreement has been validly authorized, executed and
delivered by Transferor and, assuming the due authorization, execution and
delivery thereof by Transferee, is a valid and binding agreement of Transferor,
enforceable in accordance with its terms, subject to the general principles of
equity and to bankruptcy or other laws affecting the enforcement of creditors’
rights generally.  The execution, delivery and performance of this
Agreement by Transferor does not and will not conflict with, violate or cause a
breach of, constitute a default under, or result in a violation of (i) any
agreement, contract or instrument to which Transferor is a party which would
prevent Transferor from performing or materially delay or materially impair the
ability of Transferor to perform its obligations hereunder or (ii) any law,
statute, rule or regulation to which Transferor is subject.

    
      
         

      

      
        1

        
          

        

      

      
         

      

    

     

    Section
2.02.  Ownership of
Shares.  Transferor is the legal and beneficial owner of the Shares,
free and clear of any liens, claims, security interests, options, charges or any
other encumbrance, limitation or restriction whatsoever.  The Shares are
duly authorized, validly issued, fully paid and nonassessable.  None of the
Shares is subject to any voting trust or other agreement or arrangement with
respect to the voting of such Shares.  Upon the sale and transfer of the
Shares, and payment therefor, in accordance with the provisions of this
Agreement, assuming that Transferee does not have notice of any “adverse claim,”
within the meaning of Section 8-105 of the Uniform Commercial Code as in
effect in the State of New York (the “UCC”), to such Shares and obtains
“control” of such Shares within the meaning of Section 8-106 of the UCC,
(i) Transferee shall be a “protected purchaser” of such Shares within the
meaning of Section 8-303 of the UCC, and (ii) no action (whether
framed in conversion, replevin, constructive trust, equitable lien, or other
theory) based on any “adverse claim,” within the meaning of Section 8-102
of the UCC, to such Shares may be asserted against the Transferee with respect
to such Shares.

     

    Section
2.03.  Governmental Consents. 
No consent, approval, license or authorization of or designation,
declaration, or filing with, any federal, state, or local governmental authority
on the part of Transferor is required in connection with the consummation of the
transitions contemplated by this Agreement.

     

    Section
2.04.  Sophisticated
Investor; Information.  Transferor is an informed and sophisticated
investor, and has engaged expert advisors, experienced in transactions of the
type contemplated by this Agreement.  Transferor further represents that it
has been furnished by the Company with, and has evaluated, all information it
deems necessary, desirable and appropriate to evaluate the merits and risks of
the transactions contemplated herein and has received such legal and financial
other advice as deemed to be necessary, desirable and appropriate to enable it
to make an informed and intelligent decision with respect to the execution,
delivery and performance of this Agreement.  In evaluating the suitability
of the transactions contemplated herein, Transferor has not relied upon any
representations or information whether oral or written made by or on behalf of
Transferee other than the representations and warranties of the Transferee
expressly set forth in this Agreement.  Transferor acknowledges that (i)
Transferee or its affiliates or agents currently may have, and later may come
into possession of, information with respect to the Company that is not known
to Transferor and that may be material to a decision to sell the Shares
(“Transferor
Excluded Information”), (ii) Transferor has determined to sell the
Shares notwithstanding its lack of knowledge of the Transferor Excluded
Information and (iii) none of Transferee or its affiliates or agents shall
have any liability to Transferor, and Transferor waives and releases any
claims that it might have against Transferee or its affiliates or agents
whether under applicable securities laws or otherwise, with respect to the
nondisclosure of the Transferor Excluded Information in connection with the
sale of the Shares and the transactions contemplated by this Agreement. 
Transferor understands that Transferee and its affiliates and agents will
rely on the accuracy and truth of the foregoing representations,
and Transferor hereby consents to such reliance.

     

    Transferor
understands and acknowledges that, in effecting the transactions contemplated by
this Agreement, the Transferee will rely on the representations and warrants
contained in this Section 2.

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

     

    Section
2.05.  Finder’s
Fees.  No investment banker, broker, finder or other intermediary is
entitled to a fee or commission from Transferor or the Company in respect of
this Agreement based upon any arrangement or agreement made by or on behalf of
Transferee or any of its Affiliates.

     

    Section
2.06.  No Legal Advice
from Transferee.  Transferor acknowledges that it has had the
opportunity to review this Agreement and the transactions contemplated by this
Agreement with Transferor’s own legal counsel and investment and tax
advisors.  Transferor is not relying on any statements or representations
of Transferee or any of their representatives or agents for legal, tax or
investment advice with respect to this Agreement or the transactions
contemplated by the Agreement.

     

    Section
2.07.  Transfer
Taxes.  Transferor understands that Transferor (and not Transferee)
shall be responsible for any and all tax liabilities of Transferor that may
arise as a result of the transactions contemplated by this
Agreement.

     

    ARTICLE
3

    Representations
and Warranties of Transferee

     

    Transferee
represents and warrants to Transferors as of the date hereof that:

     

    Section
3.01.  Authorization. 
Transferee has full legal right, power and authority to enter into and perform
its obligations under this Agreement and to purchase the Shares under this
Agreement.  This Agreement has been validly authorized, executed and
delivered by Transferee and assuming the due authorization, execution and
delivery thereof by Transferor, is a valid and binding agreement of Transferee,
enforceable in accordance with its terms, subject to the general principles of
equity and to bankruptcy or other laws affecting the enforcement of creditors’
rights generally.  The execution, delivery and performance of this
Agreement by Transferee does not and will not conflict with, violate or cause a
breach of, constitute a default under, or result in a violation of (i) any
agreement, contract or instrument to which Transferee is a party which would
prevent Transferee from performing or materially delay or materially impair the
ability of Transferee from performing its obligations hereunder or (ii) any law,
statute, rule or regulation to which Transferee is subject.

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    Section
3.02.  Sophisticated
Buyer; Information.  Transferee is sophisticated in financial
matters and is able to evaluate the risks and benefits attendant to the Transfer
and is an “accredited investor” within the meaning of Rule 501(a) promulgated
pursuant to the Securities Act of 1933, as amended (the “Securities Act”). 
Transferee further represents that it has been furnished by the Company with,
and has evaluated, all information it deems necessary, desirable and appropriate
to evaluate the merits and risks of the transactions contemplated herein and has
received such legal and financial other advice as deemed to be necessary,
desirable and appropriate to enable it to make an informed and intelligent
decision with respect to the execution, delivery and performance of this
Agreement.  In evaluating the suitability of the transactions contemplated
herein, Transferee has not relied upon any representations or information
whether oral or written made by or on behalf of Transferor other than the
representations and warranties of the Transferor expressly set forth in this
Agreement.  Transferee acknowledges that (i) Transferor or its affiliates
or agents currently may have, and later may come into possession of, information
with respect to the Company that is not known to Transferee and that may be
material to a decision to purchase the Shares (“Transferee Excluded
Information”), (ii) Transferee has determined to buy the Shares
notwithstanding its lack of knowledge of the Transferee Excluded Information and
(iii) none of Transferor or its affiliates or agents shall have any
liability to Transferee and Transferee waives and releases any claims that
it might have against Transferor or its affiliates or agents whether under
applicable securities laws or otherwise, with respect to the nondisclosure of
the Transferee Excluded Information in connection with the purchase of the
Shares and the transactions contemplated by this Agreement.  Transferee
understands that Transferor and its affiliates and agents will rely on the
accuracy and truth of the foregoing representations, and Transferee hereby
consents to such reliance.

     

    Section
3.03. No Legal Advice from
Transferor.  Transferee acknowledges that it has had the opportunity
to review this Agreement and the transactions contemplated by this Agreement
with Transferee’s own legal counsel and investment and tax advisors. 
Transferee is not relying on any statements or representations of the Transferor
or any of its representatives or agents for legal, tax or investment advice with
respect to this Agreement or the transactions contemplated by the
Agreement.

     

    Section
3.04.  Transfer
Taxes.  Transferee understands that Transferee (and not
Transferor) shall be responsible for any and all tax liabilities of Transferee
that may arise as a result of the transactions contemplated by this
Agreement.

     

    Section
3.05.  Restrictions
on Transfer.  Transferee acknowledges and understands the
Shares have not been registered under the Securities Act, and, if in the future
the Transferee decides to offer, resell, pledge or otherwise transfer the
Shares, such Shares may be offered, resold, pledged or otherwise transferred
only (A) pursuant to an effective registration statement filed under the
Securities Act, (B) pursuant to an exemption from registration under Rule 144
promulgated under the Securities Act, if available, or (C) pursuant to any
available other exemption from the registration requirements of the Securities
Act, and in each case in accordance with any applicable securities laws of any
state or any other jurisdiction.  Absent registration or an available
exemption from registration, Transferee agrees that it will not resell the
Shares and acknowledges that certificates representing the Shares shall bear a
legend to the foregoing effect.

     

    ARTICLE
5

    Miscellaneous

     

    Section
5.01.  Further
Assurances.  Transferor and Transferee will execute and
deliver, or cause to be executed and delivered, all further documents and
instruments and use it reasonable best efforts to take, or cause to be taken,
all actions and to do, or cause to be done, all things necessary, proper or
advisable under applicable law, to consummate and make effective the
transactions contemplated by this Agreement.  Transferor further
agrees that the Investor shall be entitled to the customary demand registration
rights, piggy-back registration rights and other rights (as set out under the
Registration Rights Agreement dated January 28, 2010 by and among the Company
and the Transferee) with respect to the Shares, and shall cooperate with
Transferee in its exercise of such rights.

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

     

    Section
5.02.   Amendments.  Any
provision of this Agreement may be amended or waived if, but only if, such
amendment or waiver is in writing and is signed, in the case of an amendment, by
each party to this Agreement or in the case of a waiver, by the party against
whom the waiver is to be effective.

     

    Section
5.03    Successors and
Assigns.  The provisions of this Agreement shall be binding
upon and inure to the benefit of the parties hereto and their respective
successors and assigns; provided that no
party may assign, delegate or otherwise transfer any of its rights or
obligations under this Agreement without the consent of the other parties
hereto.

     

    Section 5.04.  Governing
Law.  This Agreement shall for all purposes be deemed to be
made under and shall be construed in accordance with the laws of the State of
Delaware.  Each of the parties hereby agrees that any action,
proceeding or claim against it arising out of or relating in any way to this
Agreement shall, to the fullest extent applicable, be brought and enforced first
in the Delaware Chancery Court, then to such other court in the State of
Delaware as appropriate and irrevocably submits to such jurisdiction, which
jurisdiction shall be exclusive.  Each of the parties hereby waives
any objection to such exclusive jurisdiction and that such courts represent an
inconvenient forum.

     

    Section 5.05.  Counterparts;
Effectiveness.  This Agreement may be signed in any number of
counterparts and delivered by facsimile, each of which shall be an original,
with the same effect as if the signatures thereto and hereto were upon the same
instrument. This Agreement shall become effective when each party hereto shall
have received counterparts hereof signed by all of the other parties
hereto.  Until and unless each party has received a counterpart hereof
signed by the other party hereto, this Agreement shall have no effect and no
party shall have any right or obligation hereunder (whether by virtue of any
other oral or written agreement or other communication).

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

     

    IN
WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly
executed as of the day and year first above written.

    

    TRANSFEROR

    

    BRIGHT
ELITE MANAGEMENT LIMITED

    

    
      
        
          	
                  By:

                	 
      	 
      
	 
      	
                  Name:
      Qing Ping Lin

                
	 
      	
                  Title:
      Sole Director

                

        

      

    

    

    
      
        	 
      	
                TRANSFEREE

              

      

    

    

    
      
        
          	 
      	
                  By:

                	 
      	 
      
	 
      	 
      	
                  Name:
      Wai Kei
      Lam

                

        

      

    

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

     

    ANNEX
A

    

    
      
        
          	
                  Transferor

                	 
      	
                  Number of Shares

                	 
      	
                  Aggregate Purchase Price

                
	 
      	 
      	 
      	 
      	 
      
	
                  Bright
      Elite Management Limited

                	
                    

                	
                  100,000

                	
                    

                	
                  $15.00
      per share

                

        

      

    

    
      
         

      

      
        7

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