Document:

Amendment to Performance Stock Unit Award

Amendment to Performance Stock Unit Award

 

This Amendment to Performance Stock Award ("Amendment") is executed effective the 31st day of March, 2009 by Tesco Corporation, an Alberta corporation ("TESCO") and ________, ("Recipient").

WHEREAS, Recipient is the holder of one or more Performance Stock Units ("PSUs") under TESCO's 2005 Amended and Restated Incentive Plan ("Plan"), including without limitation those listed below, and

WHEREAS, the terms of the Plan and the PSU awards held by Recipient may not make clear the intended treatment of the awards upon the occurrence of a "Change of Control," as defined in the Plan;

NOW THEREFORE, for good and valuable consideration, the parties agree as follows:

	Affected PSUs. This Amendment shall affect all PSUs held as of this date by Recipient, including without limitation the following:

Date of AwardNumber of PSUs

 

	Accelerated Vesting on Change of Control.  Each PSU now held by Recipient shall have all vesting requirements waived automatically upon the occurrence of a Change of Control.

	Determination of Value on Change of Control. In the event a PSU becomes fully vested as a result of a Change of Control, notwithstanding any other provision of the original Instrument of Grant or any other agreement between the parties, the PSU shall be treated as having met the target performance metric to achieve a performance multiple of "1."

	No Other Changes. Subject to the foregoing, the PSUs held by Recipient shall continue to be governed by the Plan and the original Instrument of Grant.

IN WITNESS WHEREOF, the parties have executed this Amendment effective the date first set forth above.

 

TESCO CORPORATIONRECIPIENT

 

By:______________________Signature:______________________

Name:Julio QuintanaName:[Recipient's Name]

Title:President and Chief Executive OfficerAcquisition Framework Agreement

 Exhibit 10.35 
 English Translation of Chinese Language Agreement 
 CONFIDENTIAL 
 FULLY REDACTED VERSION 
 Beijing
Feijie Investment Co., Ltd 
 (the “Acquirer”), 
 Zhuqun Peng 
 (the “Controlling Party”) 
 and 
 the Companies and Individual
Industrial and Commercial Households Listed in Schedule 1 
 (collectively, the “Transferors”) 
  
  
 Acquisition Framework Agreement 
  
  
 May 5, 2008

 Suzhou, PRC 
 Confidential
treatment has been requested for portions of this exhibit. The copy filed herewith omits the information subject to the confidentiality request. Omissions are designated as [*****]. A complete version of this exhibit has been filed separately with
the Securities and Exchange Commission. 

 CONFIDENTIAL 
 Table of Contents 
  

					
	 Chapter 1
	  	 Definitions
	  	1
	 Chapter 2
	  	 Establishment of Newco; Asset Transfer and Equity Transfer
	  	5
	 Chapter 3
	  	 Payment of Acquisition Consideration
	  	5
	 Chapter 4
	  	 Conditions
	  	13
	 Chapter 5
	  	 Covenants and Warranties by the Controlling Party and Transferors
	  	16
	 Chapter 6
	  	 Covenants and Warranties by the Acquirer
	  	19
	 Chapter 7
	  	 Assumption of Debts of Newco
	  	20
	 Chapter 8
	  	 Limitations on the Rights of the Controlling Party
	  	20
	 Chapter 9
	  	 Audits and Appraisals
	  	23
	 Chapter 10
	  	 Confidentiality
	  	23
	 Chapter 11
	  	 Notices
	  	24
	 Chapter 12
	  	 Taxes and Charges
	  	24
	 Chapter 13
	  	 Force Majeure
	  	24
	 Chapter 14
	  	 Breach of Contract
	  	25
	 Chapter 15
	  	 Governing Law and Settlement of Disputes
	  	25
	 Chapter 16
	  	 Effectiveness
	  	26
	 Chapter 17
	  	 Miscellaneous
	  	26

  

 ii 

 CONFIDENTIAL 
  

 THIS ACQUISITION FRAMEWORK AGREEMENT (this “Agreement”) is entered into by and among the following
parties in Suzhou, Jiangsu Province, the People’s Republic of China (the “PRC”) on May 5, 2008 (the “Execution Date”): 
 PARTIES: 
  

					
	Acquirer:	  	 Beijing Feijie Investment Co., Ltd
 (the “Acquirer”)

		
		  	 Legal representative: Qixian Kuang
 Title:
Executive Director

		
	Controlling Party:	  	 Zhuqun Peng 
 (the
“Controlling Party”) 

		
		  	Identity card number: 320626197005208816
		
	Transferors:	  	 The companies and individual industrial and
 commercial households listed in Schedule 1 
 (collectively, the “Transferors”) 

 Each of the Acquirer, the Controlling Party and the Transferors is a “Party,” and they
are collectively referred to as the “Parties.” 
 RECITALS: 
  

	1.	WHEREAS, the Acquirer is a limited liability company duly organized and validly existing under the laws of the PRC; 

  

	2.	WHEREAS, the Transferors are limited liability companies and/or individual industrial and commercial households duly organized and validly existing under the laws of the PRC that
are primarily engaged in the business of retail sales and after-sales service for mobile phones; 

  

	3.	WHEREAS, the Controlling Party directly or indirectly controls 100% of the equity interests and all of the assets and business operations of each of the Transferors;

  

	4.	WHEREAS, the Controlling Party and the Transferors agree that the Transferors shall transfer all of the Target Assets (as defined below in provision (25) of Article 1) and
Target Businesses (as defined below in provision (26) of Article 1) held and controlled by the Controlling Party to Newco (as defined below in provision (16) of Article 1) in accordance with the provisions hereof (the “Asset
Transfer”); 

  

	5.	WHEREAS, the Shareholders of Newco (as defined below in provision (24) of Article 1) intend to transfer, and the Acquirer intends to acquire, 51% of the equity interests in
Newco after the Target Assets and Target Businesses have been transferred to Newco (the “Equity Transfer”). 

 THEREFORE, the Parties, based on cooperation and reciprocity, hereby agree to the following on such issues as the establishment of Newco, the Asset Transfer and the Equity Transfer, among others. 
 Chapter 1 Definitions 
 Article 1
Unless otherwise specified herein, the following terms shall have the following meanings: 
 (1) “Affiliate” refers, with
respect to any person or entity, to: (a) an entity that owns or controls the equity interests, assets or rights of such person or entity; (b) an entity of which the equity interests, assets or rights are owned or controlled by such person
or entity; (c) an entity under common ownership or control with such person or entity; (d) the directors, supervisors or senior officers of such entity, such person, and any of their immediate family members; and (e) any other entity
owned or controlled by any of the persons referred to in (d) above. As used in the preceding sentence, the term “immediate family members” includes spouses and the lineal relatives by blood of such person and spouses. 
  

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 CONFIDENTIAL 
  

 (2) “Agreement” means this Acquisition Framework Agreement dated May 5, 2008 by
and among the Acquirer, the Controlling Party and the Transferors, together with any annexes or schedules and any supplemental agreements, annexes, or schedules with respect to any issues absent hereof, as well as any agreements and/or memoranda
entered into from time to time that amend or modify the terms of such documents and/or any form of amendments, modifications or supplements of such documents entered into from time to time. 
 (3) “Annualized Net Profits” means the annual Net Profits of Newco (which shall be calculated on a 12-month basis over the 14-month
period following the Closing Date). The Annualized Net Profits shall be calculated by (x) dividing the Net Profits of Newco for the preceding 14-month period by the number 14 and (y) multiplying the number derived from the equation in
(x) above by the number 12. If the Closing Date occurs on or before the 15th day of a calendar month, then such month shall be counted in the 14-month term. If the Closing Date is after the 15th day of a calendar month, then the 14-month term
shall commence the following month. 
 (4) “Asset and Business Acquisition Agreement” means the Asset and Business
Acquisition Agreement entered into by and among Newco and the Transferors providing for the transfer of the Target Assets and the Target businesses, together with any annexes or schedules and any supplemental agreements, annexes or schedules with
respect to any issues absent hereof, as well as any agreements and/or memoranda entered into from time to time that amend or modify the terms of such documents and/or any form of amendments, modifications or supplements of such documents entered
into from time to time. 
 (5) “Acquisition Consideration” means the aggregate consideration that the Acquirer shall pay to
the Controlling Party and/or the Shareholders of Newco for the Target Equity. The Acquisition Consideration will be paid and adjusted in accordance with the provisions of this Agreement, the Equity Transfer Agreement (or its supplemental agreement)
and the Operation and Management Agreement. 
 (6) “Audit Reference Date” means (a) September 31, 2008 (i.e., the
date by which Newco shall have completed the transfer of the Target Assets and Target Businesses pursuant to this Agreement or any other written agreements by relevant parties and shall have obtained confirmation of such transfers from the Acquirer,
the Controlling Party and/or the Shareholders of Newco); or (b) another date reasonably agreed to by all of the Parties. 
 (7)
“Audited Year” initially means the 14-month period following the Closing Date (the “First Audited Year”), and subsequently means the 12-month period beginning on the 15th month after the Closing Date, and ending on
the 26th month after the Closing Date (the “Second Audited Year”). 
 (8) “Closing Date” means the date on
which the Acquirer acquires 51% of the equity interests in Newco, i.e., the date that Newco adopts new articles of association (which shall, at the request of the Acquirer, expressly state that the Acquirer holds 51% of the equity interests in Newco
and shall specify, among other things, the new structure of the board of directors and the rules and procedures for the governance and operation of the corporation), completes the relevant registration with the applicable administration for industry
and commerce and obtains written confirmation of registration from the applicable administration for industry and commerce, or the date that the Controlling Party and/or other relevant parties execute the closing confirmation letter. 
 (9) “Control” means the right to manage, receive proceeds from or make decisions on behalf of an entity, asset or business, whether
through shareholding, trust, proxy holding or voting powers. 
  

 2 

 CONFIDENTIAL 
  

 (10) “Equity Transfer Agreement” means the Equity Transfer Agreement entered into by
and among the Acquirer, the Shareholders of Newco and Newco for the transfer of the Target Equity, together with any annexes or schedules and any supplemental agreements, annexes, or schedules with respect to any issues absent hereof, as well as any
agreements and/or memoranda entered into from time to time that amend or modify the terms of such documents, and/or any form of amendments, modifications or supplements of such documents entered into from time to time. 
 (11) “Fixed Assets” means (1) all buildings and (2) vehicles and Target Business-related office equipment, machinery and tools
with a useful life of more than two years and a unit value of more than RMB 2,000. 
 (12) “Guaranteed Net Profit Base”
means the Annualized Net Profits that the Controlling Party guarantees Newco will achieve in the 14-month period after the Closing Date, or RMB 62,000,000. 
 (13) “Low-Value Consumables” means any office equipment, machinery and tools with a useful life of less than 2 years and a unit value of less than RMB 2,000. 
 (14) “Mobile Phone Distribution Business” means the wholesale mobile phone business of the Controlling Party and/or the Transferors
(with the term “wholesale” referring to the purchase of mobile phones for resale purposes), excluding the consumer mobile phone retail business (with the term “consumer” referring to both individual and corporate or other group
retail purchasers). 
 (15) “Net Profits” means after-tax net profits, which: (a) shall be accounted for according to
Chinese accounting standards; (b) exclude non-operating income, any other non-recurring operating income (for the avoidance of doubt, Sales Support Income shall not be deemed non-operating income and shall be listed and accounted for as income)
and income from the sale of more than 50 mobile phones to the same purchaser within such Audited Year (which shall be regarded as income from the Mobile Phone Distribution Business and not income from the Target Businesses hereunder, unless the
Controlling Party provides reasonable evidence to the contrary); and (c) shall be audited by an auditor that is mutually agreed upon by the Acquirer and the Controlling Party. If such parties fail to agree upon an auditor within five
(5) days after the expiration of the most recent audit period (December 31 or March 31) of the Audited Year, the Controlling Party shall select, in its sole discretion, one auditor from the “Big Four” accounting firms (KPMG,
PricewaterhouseCoopers, Ernst & Young and Deloitte Touche Tohmatsu). 
 (16) “Newco” means the limited liability
company (and its subsidiary or subsidiaries), the Target Equity of which shall be acquired by the Acquirer, which the Controlling Party and/or its Affiliates shall form and registered in Jiangsu Province pursuant to the provisions of this Agreement
for the purpose of holding the Target Assets and Target Businesses. 
 (17)
“Operating Profit Index” means the Net Profits that the Controlling Party guarantees Newco will achieve during the Operating Profit Index Lockup Period. The Annualized Net Profits for the 14-month period following the Closing Date
shall be RMB 62,000,000. The Net Profits for the subsequent 12-month period (i.e., the period from the 15th month to the 26th month following the Closing Date) shall be RMB ******. 
 (18) “Operating Profit Index Lockup Period” means the period during which the
Controlling Party guarantees Newco will achieve the Operating Profit Index, or the 26-month period following the Closing Date. 
 (19)
“Operation and Management Agreement” means the Operation and Management Agreement dated May 5, 2008 by and between the Acquirer and the Controlling Party, together with any annexes or schedules and any supplemental agreements,
annexes or schedules with respect to any issues absent hereof, as well as any agreements and/or memoranda entered into from time to time that amend or modify the terms of such documents and/or any form of amendments, modifications and/or supplements
of such documents entered into from time to time. 
  
  

	*	Confidential material redacted and filed separately with the Securities and Exchange Commission. 

  

 3 

 CONFIDENTIAL 
  

 (20) “Performance Reward” means the payment that the Acquirer shall make to the
Controlling Party in accordance with this Agreement and the Operation and Management Agreement if Newco achieves the Operating Profit Index within the Operating Profit Index Lockup Period. 
 (21) “Registered Capital” means the capital of Newco registered with the applicable administration for industry and commerce for which a
Chinese certified public accountant has issued a capital verification report. The registered capital of Newco shall be RMB 100,000,000, of which the first installment of RMB 30,000,000 shall be contributed by the Shareholders of Newco upon its
formation. 
 (22) “Reorganization” means any change in equity structure or registered capital, including but not limited to
any increase or decrease of the Registered Capital, any company merger, split or conversion, or any change in the rights corresponding to any of the equity interests. 
 (23) “Sales Support Income” means fees charged by Newco to suppliers and/or manufacturers in exchange for providing sales support to such suppliers and/or manufacturers, including fees for product
promotions, store promotions, rental for light boxes, signage and concessions, sales staff administration, store anniversary and holiday promotions, and other similar fees. 
 (24) “Shareholders of Newco” means all shareholders of Newco registered with the applicable administration for industry and commerce
prior to the transfer of the Target Equity. 
 (25) “Target Assets” means the assets controlled by the Controlling Party and
managed by the Transferors that shall be transferred to Newco pursuant to this Agreement, including but not limited to inventories of mobile phones and accessories, fixed assets, working capital, trademarks/trade names and certain intangible assets.
The scope of the Target Assets shall be determined by the mutual agreement of the Acquirer, the Controlling Party and/or the Transferors. 
 (26) “Target Businesses” means the businesses included in the Target Assets and operated by the Transferors that, following the Closing Date, will be jointly controlled by the Acquirer and the Controlling Party and operated
by Newco in accordance with this Agreement. Such businesses include, but are not limited to, mobile phone retail stores, distribution channels, ventures with telecommunication operators, marketing and human resources and all rights related thereto
under relevant laws and agreements. The scope of the Target Businesses shall be determined by the mutual agreement of the Acquirer, the Controlling Party and/or the Transferors; provided however, that the Target Businesses shall not include the
Mobile Phone Distribution Business of the Controlling Party and/or the Transferors. 
 (27) “Target Equity” means 51% of the
equity interests in Newco after the Target Assets and Target Businesses have been transferred to Newco. 
 (28)
“Transferors” means the companies and other entities that own and/or operate the Target Assets and Target Businesses, including all the companies and individual industrial and commercial households listed in Schedule 1 hereof and
any other individuals or entities that own or control such Target Assets and Target Businesses. 
 (29) “Undisclosed
Liabilities” means any existing or contingent liabilities of Newco not specifically disclosed to the Acquirer in writing as of the Closing Date, including, but not limited to, any actual, contingent, mature, immature, contractual or
tort-based liabilities, liabilities arising out of prior civil litigation or arbitration decisions, and any administrative penalties, recoveries, forfeitures, or criminal penalties and liabilities. 
 (30) For the purpose of this Agreement, the terms “above,” “more than” and “reached” mean greater than
or equal to the applicable threshold number. 
  

 4 

 CONFIDENTIAL 
  

 (31) Unless specifically noted or otherwise stated, words or terms used in this Agreement but not
defined herein shall have the meanings specified in the Operation and Management Agreement. 
 Article 2 All references to provisions,
annexes and schedules are references to the provisions, annexes and schedules of this Agreement. 
 Article 3 The titles in this
Agreement are provided for the purpose of facilitating the understanding of this Agreement only and do not affect the content or interpretation of any provisions hereof. 
 Chapter 2 Establishment of Newco; Asset Transfer and Equity Transfer 
 Article 4 From the
Execution Date to the Closing Date, unless otherwise agreed herein, neither the Controlling Party nor the Transferors shall contact or negotiate with any third party for the transfer or disposal of the Target Assets, the Target Businesses and/or the
Target Equity or, through any actions and/or omissions, cause the value of the Target Assets to decline or prevent the Target Businesses from continuing to operate in the manner in which such Target Businesses were operating as of the Execution
Date. 
 Prior to the Closing Date, unless otherwise agreed herein, if either the Controlling Party or the Transferors terminates this
Agreement or, through any willful action or omission, makes it impossible to satisfy the conditions of or to perform this Agreement, the Controlling Party and/or the Transferors shall, within 10 days from the earlier of the date on which the
Controlling Party and/or the Transferors propose to terminate this Agreement or make it impracticable to achieve the specific performance of this Agreement, return to the Acquirer an amount equal to two times the Deposit paid in accordance with
Section (1) of Article 8. 
 Prior to the Closing Date, unless otherwise agreed herein, if the Acquirer terminates this Agreement or,
through any willful action or omission, makes it impossible to satisfy the conditions of or to perform this Agreement, the Acquirer agrees that the Controlling Party and/or the Transferor shall not be required to return the Deposit in accordance
with Section (1) of Article 8. 
 Article 5 The Controlling Party and/or its Affiliates agree to form Newco in Jiangsu Province.
According to the terms and conditions of this Agreement and the Asset and Business Acquisition Agreement, Newco shall acquire the Target Assets, undertake the Target Businesses and pay the consideration for such acquisition. After the conditions
specified in Chapter 4 hereof are satisfied, the Acquirer shall acquire 51% of the equity interests in Newco and pay the Acquisition Consideration. At such time, the Acquirer, the Controlling Party, the Shareholders of Newco and/or Newco shall enter
into an Equity Transfer Agreement in a form satisfactory to the Parties, amend the articles of association of Newco pursuant to the provisions of the Operation and Management Agreement and complete the registration of the equity transfer at the
applicable administration for industry and commerce. 
 Article 6 Prior to the Closing Date, the Controlling Party shall be legally
registered at the applicable administration for industry and commerce as the holder of 49% of the equity interests in Newco and, pursuant to the terms of this Agreement, shall pledge such equity interests to the Acquirer during the Operating Profit
Index Lockup Period. 
 Chapter 3 Payment of Acquisition Consideration 
 Article 7 The Acquisition Consideration hereunder shall be calculated as set forth in the following formula: 
 Acquisition Consideration = (A × ******) × 51%, where: 
 A = Guaranteed Net Profit Base (RMB
62,000,000). 
  

	*	Confidential material redacted and filed separately with the Securities and Exchange Commission. 

  

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 CONFIDENTIAL 
  

 Article 8 The Parties agree that the Acquirer will pay the Acquisition Consideration in five
installments and shall deposit the Acquisition Consideration in the bank account designated by the Controlling Party and/or the Shareholders of Newco. 
 (1) First Installment. Within three business days after the Execution Date, the Acquirer shall
prepay an amount equal to RMB ******. Of such amount, RMB 30,000,000 shall be solely used as the contribution to the Registered Capital of Newco and
shall be deposited into a bank account jointly held by the Acquirer and the Controlling Party and retained in such account until the Closing Date. The remaining RMB ****** shall constitute payment of reasonable expenses incurred in connection with the transfer of the equity interests in the Transferors, the Target Assets, the Target Businesses and the establishment of Newco and shall
be deposited in a bank account designated by the Controlling Party. The Parties further agree that, regardless of which accounts receive the RMB ****** deposit, RMB ****** shall be deemed to be the deposit for the transactions contemplated by this Agreement (the
“Deposit”), and RMB ****** shall be deemed to be a prepayment for the transactions contemplated by this Agreement (the
“Prepayment”). The Deposit and the Prepayment shall be deemed the first installment of the Acquisition Consideration on or after the Closing Date. 
 (2) Second Installment: Within three business days after the Closing Date, the Acquirer shall make
deposits in the amount of RMB ******, of which RMB ****** shall be paid in the form of a contribution to the Registered Capital of Newco. The first and second installments shall together equal ****** of the Acquisition Consideration. 
 (3) Third Installment. If the
Controlling Party has contributed RMB 34,300,000, the remaining Registered Capital of Newco, the Acquirer shall make deposits in the amount of RMB ******, an amount equal to ****** of the Acquisition Consideration, within 30 days after the Closing Date. The Parties agree that the contributed
Registered Capital may be paid to the Controlling Party and/or the Transferors within three days after the Closing Date as payment for the inventory and fixed assets to be purchased, and such amount shall be paid within 30 days after the Closing
Date. 
 (4) Fourth Installment. If the Annualized Net Profits of Newco reach the
Guaranteed Net Profit Base according to the audit report for the First Audited Year, then within 10 days after the designated auditor completes its audit of Newco for the First Audited Year and delivers its audit report, the Acquirer shall make a
deposit in the amount of ****** of the Acquisition Consideration (RMB ******). The audit report shall be delivered no later than 75 days after the expiration of the most recent audit period (December 31 or March 31) for the First Audited Year. 
  

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 (5) Fifth Installment. If the Net Profits of
Newco reach the Operating Profit Index as defined herein and in the Operation and Management Agreement according to the audit report for the Second Audited Year, then within 10 days after the designated auditor completes its audit of Newco for the
Second Audited Year and delivers its audit report, the Acquirer shall make a deposit in the amount of ****** of the Acquisition Consideration (RMB
******). The audit report shall be delivered no later than 75 days after the expiration of the most recent audit period (December 31 or
March 31) for the Second Audited Year. 
 (6) The Controlling Party, the Shareholders of Newco and/or any other party designated by such
parties shall provide written notice to the Acquirer confirming receipt of such payments on the day any of the above payments are received. 
 Article 9 The Parties agree that the auditor selected by the Parties will conduct due diligence investigations into the financial conditions of the Transferors for calendar year 2007 (January 1 to December 31). The Controlling
Party and the Transferors covenant and warrant that the results of the due diligence investigations will meet the following criteria: 
 (1)
Sales Quantity: the quantity of mobile phones sold through the retail stores listed in Schedule 3 and/or by the Transferors listed in Schedule 1 will not be lower than 1,400,000. 
 (2) Expenses: the total amount of expenses recorded in the current accounting records of the Transferors is RMB 122,000,000. Following the
due diligence investigations, the expenses shall not increase by more than 10%. For accounting purposes, “expenses” are defined as: (a) expenses confirmed by the auditor as operating expenses, administrative expenses, financial
expenses and non-operating expenditures pursuant to applicable Chinese accounting standards; and (b) payments made by the Transferors in 2007 that were accounted for on a cash basis rather than on an accrual basis. 
 The Acquirer shall provide the list of documents/materials required for the due diligence investigations within 5 days after the Execution Date and shall
request that the auditor issue the due diligence investigation report within 60 days of the date on which the on-site due diligence investigations commence. 
 Article 10 The Parties agree that the auditor is an independent professional organization and the Parties acknowledge the qualification, capability and integrity of such auditor. The Parties further agree to
adopt the financial due diligence report delivered by such auditor, and to make any relevant adjustments to the payment of the Acquisition Consideration (as specified in Articles 11 and 12) according to the results of such report. 
 Article 11 The Parties agree that the payment schedule of the Acquisition Consideration shall be adjusted upon the occurrence of the following
events: 
 (1) If the total expenses shown in the financial due diligence report are
more than RMB ****** but less than RMB ******,
the payment of the second through the fifth installments of the Acquisition Consideration under Article 8 shall be adjusted as follows: 
 (a) Second Installment: Within three business days after the Closing Date, the Acquirer shall make
a deposit of RMB ******, of which RMB ******
shall be paid in the form of a contribution to the Registered Capital of Newco. The first and second installments shall together equal ****** of the
Acquisition Consideration. 
  

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 (b) Third Installment: If the Controlling
Party has contributed RMB 34,300,000 to the Registered Capital of Newco, then within 30 days after the Closing Date, the Acquirer shall make a deposit of RMB ******, an amount equal to ****** of the Acquisition Consideration. The Parties agree that the contributed Registered
Capital may be used to pay the Controlling Party and/or the Transferors after three days following the Closing Date for the inventory and fixed assets to be purchased, and such amount shall be paid within 30 days after the Closing Date. 

(c) Fourth Installment: If the Annualized Net Profits of Newco reach the Guaranteed Net Profit
Base according to the audit report for the First Audited Year, then within 10 days after the designated auditor completes its audit of Newco for the First Audited Year and delivers its audit report, the Acquirer shall make a deposit of
****** of the Acquisition Consideration (RMB ******). 
 (d) Fifth installment: If the Net Profits of Newco for such period
reaches the Operating Profit Index as defined herein and in the Operation and Management Agreement according to the audit report for the Second Audited Year, then within 10 days after the designated auditor completes its audit of Newco and delivers
its audit report, the Acquirer shall make a deposit of ****** of the Acquisition Consideration (RMB ******). 
 (2) If the
total expenses shown in the financial due diligence report are more than RMB ****** but less than RMB ******, the payments of the second through the fifth installments of the Acquisition Consideration under Article 8 shall be adjusted as follows: 
 (a) Second Installment: Within three business days after the Closing Date, the Acquirer shall make
a deposit of RMB ******, of which RMB ******
shall be paid in the form of a contribution to the Registered Capital of Newco. The first and second installments shall together equal ****** of the
Acquisition Consideration 
 (b) Third Installment: If the Controlling Party has
contributed RMB 34,300,000, the remaining Registered Capital of Newco, then within 30 days after the Closing Date, the Acquirer shall make a deposit of RMB ******, an amount equal to ****** of the Acquisition Consideration. The Parties agree that the 
  

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contributed Registered Capital may be paid to the Controlling Party and/or the Transferors after three days following the Closing Date as payment for the
inventory and fixed assets to be purchased, and such amount shall be paid within 30 days after the Closing Date. 
 (c) Fourth Installment: Within 10 days after the designated auditor completes its audit of Newco for the First Audited Year and issues its audit report determining that the Annualized Net Profits of Newco reaches the
Guaranteed Net Profit Base, the Acquirer shall make a deposit of ****** of the Acquisition Consideration (RMB ******). 
 (d) Fifth Installment: Within 10 days after the designated auditor completes its audit of Newco for the Second Audited Year and issues its audit report determining that the Net Profits of Newco for such period reaches the Operating Profit
Index as defined herein and in the Operation and Management Agreement, the Acquirer shall make a deposit of ****** of the Acquisition Consideration
(RMB ******). 
 The deadlines for
issuing the audit reports in this Article are the same as those specified in Article 8. 
 Article 12 The Parties agree that, if the auditor’s due diligence report shows that: (a) the sales volume is lower than 1,400,000 mobile phones or (b) the total amount of expenses is more than RMB ******, then the Parties will, within 30 days after the issuance of the financial due diligence report, renegotiate and agree upon the method for calculating the
amount and the timeline for payment of the Acquisition Consideration. If the Parties fail to enter into a separate written agreement within 30 days, the Acquirer shall have the right to terminate this Agreement and the Operation and Management
Agreement, and the Controlling Party and the Transferors covenant to unconditionally, irrevocably and jointly and severally return to the Acquirer, within 10 days after receipt of written notice from the Acquirer, the Acquisition Consideration
(without interest) already paid by the Acquirer. In such event, each Party shall bear the expenses and expenditures incurred thereby for the execution and performance of this Agreement. 
 Article 13 The Acquirer shall pay each installment of the Acquisition Consideration pursuant to the provisions in this Agreement and the Operation
and Management Agreement. If the Acquirer does not make a timely payment of any installment due to its own fault, the Acquirer shall pay liquidated damages at the daily rate of 0.05% on the unpaid amount. 
 Article 14 If the Acquirer fails to pay any installment for a period in excess of twenty days after a due date specified in Article 8 or Article
11 above, the Controlling Party may exercise either of the following options: 
 (1) The Controlling Party may grant a grace period to the
Acquirer with respect to the payment term (such grace period shall be determined by the Controlling Party in its sole discretion and, unless the Controlling Party otherwise expressly provides, will expire at 5:00 pm on the 30th day after the date
the grace period is granted through written confirmation or according to this Article 14). 
 (2) The Controlling Party may sign a written
notice of termination of this Agreement and the equity transfer and deliver such notice to the Acquirer. This Agreement shall be terminated upon delivery of such notice. 
  

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	 Confidential material redacted and filed separately with the Securities and Exchange Commission.

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 The foregoing options must be exercised by the Controlling Party in its sole discretion no later than
5:00 pm on the 20th day after the date the Acquirer’s applicable installment is due, and such options may be exercised repeatedly by the Controlling Party upon the occurrence of a payment default. If the Controlling Party fails to exercise such
options within the specified period, the Controlling Party will be deemed to have granted a grace period. 
 If the Controlling Party
exercises its option of granting the Acquirer a grace period, the Acquirer remains obligated to pay the liquidated damages specified in Article 13. 
 If the Controlling Party exercises its option of terminating this Agreement, the Acquirer shall immediately execute all necessary documents and take all necessary actions to effect the termination (including but not limited to the filing
the application for changing Newco’s registration with the applicable administration for industry and commerce), and return the Target Equity to the Controlling Party or any third party designated by the Controlling Party. Within three days
after the satisfaction of the obligations mentioned in the preceding sentence, the Controlling Party and/or the Shareholders of Newco shall, after deduction of (a) the Deposit according to Section (1) of Article 8 hereof and
(b) liquidated damages for any delayed payments pursuant to Article 13 hereof, refund to the Acquirer in a lump sum, without interest, the Acquisition Consideration paid up to such date. If the actual loss incurred by the Controlling Party
and/or the Transferors is in excess of the Deposit, the Acquirer shall compensate the Controlling Party and/or the Transferors, as applicable, for such excess amount. 
 Article 15 The Parties agree that the Acquisition Consideration shall be adjusted upon the occurrence of the following circumstances: 
 (1) If Newco has not recovered the full amount of its outstanding accounts receivable as set forth in the audit report (other than the security deposit,
deposit, performance bond and any other similar payment paid to suppliers, manufacturers, and operators and lessors of retailing stores by Newco in its ordinary course of business) within 90 days after the Closing Date, the Controlling Party, the
Transferors and/or the Shareholders of Newco shall jointly and severally pay such amount within 10 days following the receipt of written notice from the Acquirer. If the Controlling Party, the Transferors and/or the Shareholders of Newco fail to pay
such amount within the specified time, the Acquirer may, in its sole discretion, deduct such amount directly from any Acquisition Consideration and/or the Performance Award deposits (if applicable, as set forth in Chapter III of the Operation and
Management Agreement). In exchange, the Acquirer may transfer the right to receive payment for such unpaid accounts receivable to the Controlling Party, the Transferors and/or the Shareholders of Newco upon the request of the Controlling Party, or
the Acquirer may replace the amount deducted from the Acquisition Consideration within three days after Newco actually receives such accounts receivable. 
 (2) If, within 90 days after the Closing Date, the Acquirer determines that Newco has incurred any Undisclosed Liabilities not previously disclosed in the audit report, the Controlling Party, the Transferors and/or
the Shareholders of Newco shall jointly and severally fully pay the amount of such liabilities within 10 days after the receipt of written notice from the Acquirer. If the Controlling Party, the Transferors and/or the Shareholders of Newco fail to
pay such liabilities within the time specified, the Acquirer may, in its sole discretion, deduct such amount directly from any Acquisition Consideration (if applicable, as set forth in Chapter III of the Operation and Management Agreement). In
return, the right of defense against such Undisclosed Liabilities, the set-off rights against the Undisclosed Liabilities and Newco’s statutory rights pursuant to such liabilities may be transferred to the Controlling Party, the Transferors
and/or the Shareholders of Newco upon the request of the Controlling Party, or the Acquirer may replace the amount deducted from the Acquisition Consideration within three days after the parties to which the Undisclosed Liabilities were apparently
owed confirm that the Acquirer need not assume such Undisclosed Liabilities in accordance with applicable law. 
 (3) The Acquirer shall
conduct internal audits of Newco before June 30, 2009 upon the request of the Controlling Party and/or Newco. The internal audits shall be completed within 30 days after the Controlling Party submits such request. If the Annualized Net Profits
of Newco are reasonably expected to be higher than the Guaranteed Net Profit Base according to the audit results, the Controlling Party may request and the Acquirer shall agree to increase the Guaranteed Net Profit Base. Within three business days
from the day the Acquirer and the Controlling Party have confirmed such increased amount in writing, the Acquirer shall pay the following increased amount of the Acquisition Consideration in a lump sum: 
 Increased amount = A × ****** × 51% × C – B, where: 
 A = Guaranteed
Net Profit Base after such increase; 
  

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 B = Acquisition Consideration paid by the Acquirer as of such date; and 

C = Percentage of total payment as calculated on the basis of the first, second and third installments specified in Articles 8 and
Article 11. 
 The remaining portion of the increased amount of the Acquisition Consideration shall be paid in full according to applicable
provisions of this Agreement and the Operation and Management Agreement after the issuance of each audit report. 
 If the Guaranteed Net Profit Base is increased according to this Article 15, the Operating Profit Index of Newco in the Second Audited Year shall be increased ****** accordingly, as set forth in the following calculation: 
 Operating Profit Index of the Second Audited Year = Guaranteed Net Profit Base after such increase
× ******. 
 Any reduction in the
amount of the Acquisition Consideration to be paid, any increased percentage of equity to be transferred by the Controlling Party, or the Performance Reward to be paid to the Controlling Party specified in this Agreement and the Operation and
Management Agreement shall be calculated based on the increased Operating Profit Index. 
 (4) If the Net Profits of Newco in any Audited
Year during the Operating Profit Index Lockup Period fail to reach the guaranteed Operating Profit Index guaranteed by the Controlling Party, the Acquirer may reduce the amount of Acquisition Consideration payable or increase the percentage of
equity to be transferred by the Controlling Party to the Acquirer pursuant to the provisions of this Agreement and the Operation and Management Agreement: 
 (a) The formula for reducing the Acquisition Consideration is as follows: 
 Reduced Acquisition Consideration = MAX (A1, A2) × ****** × 51%, where: 
 A = Difference between the actual Net Profits and Operating Profit Index for the applicable Audited Year = B-C; A1 = First Audited Year;
A2 = Second Audited Year; 
 B = Operating Profit Index of Newco in the applicable Audited Year within the Operating Profit
Index Lockup Period; and 
 C = Actual Net Profits of Newco in the applicable Audited Year within the Operating Profit Index
Lockup Period. 
 (b) The Controlling Party agrees, based on the amount by which the Acquisition Consideration is reduced, to transfer part
or all of its equity interests, in addition to the Target Equity, to the Acquirer. The formula for increasing the percentage of equity to be transferred by the Controlling Party to the Acquirer as follows: 
 Additional Equity to Be Transferred (%) = MAX (A1, A2) × 51% / C, where: 
 A = Difference between the actual Net Profits and Operating Profit Index for the applicable Audited Year = B-C; A1 = First Audited Year;
A2 = Second Audited Year; 
  

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 B = Operating Profit Index of Newco in the applicable Audited Year within the
Operating Profit Index Lockup Period; and 
 C = Actual Net Profits of Newco in the applicable Audited Year within the
Operating Profit Index Lockup Period. 
 Such adjustments shall be calculated once a year. If the amount by which Newco fails to achieve the
guaranteed Operating Profit Index for the First Audited Year is higher than the amount by which Newco fails to achieve it for the Second Audited Year, the Acquisition Consideration will not be reduced for the Second Audited Year. If the amount by
which Newco fails to achieve the Guaranteed Operating Profit Index settled for the First Audited Year is lower than the amount by which Newco fails to achieve it for the Second Audited Year, the higher amount will be used to calculate the adjustment
for the Second Audited Year and the difference will be included in the decreased Acquisition Consideration or the increased equity to be transferred. 
 The Acquirer agrees that the Controlling Party may, in its sole discretion, choose either to reduce the amount of Acquisition Consideration or to increase the percentage of equity interests transferred. Details of the
method to be used for the adjustment are set forth in the Operation and Management Agreement. 
 If the Net Profits of Newco for any Audited
Year within the Operating Profit Index Lockup Period fail to reach the Operating Profit Index guaranteed by the Controlling Party, the Acquisition Consideration payable by the Acquirer shall be adjusted accordingly and the Controlling Party shall
not be subjected to any liability. 
 Additional provisions regarding the adjustment of the Performance Reward, the Acquisition Consideration
or the equity interests of the Controlling Party to be transferred are set forth in Chapter III of the Operation and Management Agreement. 
 Article 16 The Transferors and the Controlling Party covenant and warrant that the “net assets” of Newco on the Audit Reference Date will be no less than RMB 100,000,000. 
 For purposes of this Article 16, “net assets” shall include the value of the inventory of mobile phones and accessories, the value of Fixed
Assets, cash, accounts receivable generated in the ordinary course of business, and prepaid ordinary operation expenses, and shall exclude the acquisition consideration payable to the Controlling Party and/or the Transferors for the Target Assets
and/or the Target Businesses and all other liabilities of Newco (including, but not limited to, accounts payable, salaries payable, welfare funds payable, taxes payable and any other payables, other accounts receivable and accrued expenses).

 The value of the inventories and the fixed assets shall be determined by the audit report and the appraisal report issued on the Audit
Reference Date by the auditor and appraisal institution agreed to by the Parties. If the auditor and appraisal institution cannot obtain adequate accounting information to confirm the value of an asset, the Parties agree that the value will be
determined by the following means: (a) through valuation of the item at fair market value; (b) as determined by the Parties through negotiation; or (c) to the extent that the Parties fail to agree on the value of any item and the
Transferors cannot provide reasonable and satisfactory explanations as to or proof of value to the Acquirer, the Acquirer may refuse to include such assets in Newco. 
 Article 17 The Parties agree that the Controlling Party and/or the Transferors and Newco will enter into an Asset and Business Acquisition Agreement with respect to the transfer of the Target Assets and the
Target Businesses within 10 days after the establishment of Newco or within 45 days after the Execution Date, whichever is later. Such Asset and Business Acquisition Agreement shall include, among other things: 
 (1) The specifications of the Target Assets and the Target Businesses, confirmed in writing by the Acquirer, the Controlling Party and/or the Transferors;

  

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 CONFIDENTIAL 
  

 (2) The book value of the Target Assets (with the final transfer price to be adjusted in accordance
with the audit report and the appraisal report); 
 (3) Confirmation by the parties thereto that Newco shall transfer the payment price for
the inventory and the Fixed Assets three days after the Closing Date and shall complete such payment within 30 days after the Closing Date. If the transfer of the Fixed Assets is subject to the approval of applicable government authorities, the
payment for such fixed assets shall be made after Newco has obtained the relevant title certification documents; 
 (4) The specific terms of
the closing of the Target Assets and the Target Businesses shall include the provisions of Sections (3) and (4) of this Article 17; and 
 (5) The aggregate amount of the purchase price of the Target Assets shall be no more than RMB 100,000,000. 
 Article 18 The
Controlling Party and/or the Transferors agree to transfer to Newco the purchased Low-Value Consumables (other than the items specified in Article 19) for the purpose of continuing the development of the Target Businesses and the prepaid ordinary
operation expenses (including but not limited to the prepaid human resource expenses, lease expenses and promotional expenses). The Acquisition Consideration includes all of the reasonable compensation and fees to be paid to the Controlling Party
and/or the Transferors. 
 Article 19 Because the retail mobile phone display counters have already been purchased by the Controlling
Party and/or the Transferors and can be used by Newco for more than two years following the Closing Date, the Acquirer agree to treat the display counters purchased later than January 1, 2006 as Fixed Assets to which provisions of Fixed Assets
under this Agreement shall apply. 
 Chapter 4 Conditions 
 Article 20 Unless waived by the Acquirer in writing, the performance of the obligation to pay the second installment through the fifth installment
under Article 8 and Article 11 hereof shall be subject to the satisfaction of all of the following conditions: 
 (1) Newco shall be legally
formed, registered and in good standing and the first installment of Registered Capital in the amount of RMB 30,000,000 shall have been contributed in full. The equity interests in Newco shall not be subject to any guaranty, mortgage, pledge, option
right, acquisition right, preemptive right, option, custody, trust, lien or any other right in any other form. 
 (2) The Target Assets shall
have been legally transferred to Newco pursuant to written agreements. Such transfers shall include but are not limited to: 
 (a) Delivery
of inventories: Inventories of mobile phones and accessories shall have been sold to Newco, and the commercial invoices of such mobile phones and accessories shall have been issued to or the suppliers and/or manufacturers shall have been caused to
issue such commercial invoices to Newco. The price for such inventories shall be determined by the audit report on the Audit Reference Date. 
 (b) Delivery of fixed assets: The Agreement for the transfer of Fixed Assets shall have been executed and such assets shall have been physically transferred to Newco. For asset classes that must be registered prior to transfer, including
real property, transportation vehicles and other fixed assets, all of the transfer application documents shall have been submitted to the applicable government agency and the written certifications or acknowledgements of receipt for the registration
of the transfer of fixed assets shall be provided to the Acquirer. The transfer price for the fixed assets shall be determined by the audit report and appraisal report. 
  

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 (c) Delivery of intangible assets: Ownership interests in and/or application rights to all of the
intangible assets, if any (including the patents, copyrights, know-how and domain names listed in Schedule 2 hereof) shall have been transferred to Newco pursuant to written agreements, all of the transfer application documents shall have been
submitted to the applicable government agency (with Newco as the transferee) in compliance with such government agency’s requirements, and all of the acceptance or approval notifications with respect to such applications issued by the
applicable government agency shall have been submitted to the Acquirer. Prior to transferring ownership interests in these intangible assets to Newco, the owners of such intangible assets shall sign contracts with Newco to license the intangible
assets owned by such owners to Newco for use by Newco. If required by law, the licensing contracts shall be submitted to the applicable government agency for filing and the Acquirer shall receive all acceptance or approval notifications with respect
to such filings issued by the applicable government agency. 
 For the ownerships of the “Guanzhilin” trademarks, the Parties agree
as follows: 
  

	 	i)	The ownership interests in and/or the application rights to the trademarks, including, but not limited to, the “Guanzhilin” trademarks in words or graphics under
Classification Nos. 9, 35 and 37 of the International Classification of Goods and Services for the Purpose of the Registration of Trademarks of the Nice Agreement, which are or may be involved in the Target Businesses (including, among other
industry areas, mobile phone retail sales, after-sale services and mobile telecommunication agency services), will be transferred to the Controlling Party and Newco to be held jointly thereby; 

  

	 	ii)	Other “Guanzhilin” trademarks not included in clause (i) above will not be transferred to Newco to be held separately and jointly with the Controlling Party if such
trademarks are already registered by the Controlling Party and/or the Transferors and the Controlling Party and/or the Transferors have preemptive rights to register such trademarks should they not be registered by the Controlling Party and/or the
Transferors. However, if the Controlling Party and/or the Transferors fail to submit the registration application documents to the trademark registration agency within 180 days after the Execution Date, the Acquirer shall have the right to request
that Newco submit the applicable application documents as the applicant and the Controlling Party and/or the Transferors shall not object to such request; 

  

	 	iii)	Within the non-competition regions of Jiangsu Province, Shandong Province and Shanxi Province, as set forth in Articles 25 and 27, only Newco has the right to use the
“Guanzhilin” trademarks set forth in clause (i) above; 

  

	 	iv)	Outside of the non-competition regions of Jiangsu Province, Shandong Province and Shanxi Province as set forth in Articles 25 and 27, the Controlling Party may use or may authorize
any third party to use the “Guanzhilin” trademarks set forth in clause (i) above without the prior consent of Newco, but shall notify all the directors of Newco in writing within 30 days after any such use or authorized use. Newco
shall obtain the prior written consent from the Controlling Party when using or authorizing any third party to use such “Guanzhilin” trademarks. The Parties agree that the Acquirer has the preemptive right to purchase, under the same
terms, mobile phone retail stores established outside of the non-competition regions by the Controlling Party or any authorized third party using the trademarks of “Guanzhilin.” 

  

	 	v)	If the Controlling Party exercises its equity reduction right under Articles 33 and 35 and if the Acquirer holds more than 67% of the equity interests in Newco, the ownership
interests in the “Guanzhilin” trademarks under this Article shall be separately negotiated and determined by the Controlling Party and the Acquirer. 

  

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 The Acquirer and/or Newco shall not be required to pay any consideration in connection with any
agreements relating to the intangible assets transfer and/or licensing agreements because the consideration for the transfer of intangible assets and the consideration for the licensed use of such intangible assets are included in the Acquisition
Consideration. 
 Outside of the non-competition regions of Jiangsu Province, Shandong Province and Shanxi Province as set forth in Articles
25 and 27, if the Controlling Party uses or authorizes any third party to use the “Guanzhilin” trademarks to operate mobile phone retail and/or after-sales service businesses, the Acquirer agrees that Newco may legally license the software
listed in Schedule 2 to such third party for use free of charge. 
 Newco and the Transferors shall have entered into an agreement for the
transfer of the above Target Assets. 
 (3) The Target Businesses shall have been legally transferred to Newco pursuant to written
agreements, as follows. 
 (a) Delivery of retail stores: The Controlling Party and/or the Transferors shall use their best efforts to ensure
that the lease agreements of all retail stores (as set forth in Schedule 3) have been amended so that Newco is named as the tenant thereunder (including by means of an assignment of the leases) and so that the terms of the leases shall expire no
earlier than March 31, 2011. The Acquirer understands that some circumstances may make it commercially impracticable to meet all of the preceding requirements. However, the Controlling Party and/or the Transferors covenant that leases for at
least 40 retail stores and any retail stores whose total sales quantity for the 2007 calendar year exceeds 1,200,000 mobile phones (based on the financial due diligence report) will meet the above requirements. 
 (b) Delivery of distribution channel resources: All of the agreements and documents (including sales agreements and after-sales agreements) for
brand-name mobile phones (e.g. Nokia, Motorola, Samsung and Sony Ericsson, among others) shall have been modified to identify Newco as a party to such agreements and documents (unless (i) the Transferors have not signed any written agreements
with suppliers and/or manufacturers and such suppliers and/or manufacturers do not agree to execute such written agreements; or (ii) a change of business and/or sales model of such suppliers and/or manufacturers prevents the relevant agreements
from being amended). The Transferors shall use their best efforts to ensure such suppliers and/or manufacturers enter into supplemental or new sales agreements or after-sales agreements. Without the prior written consent by the Acquirer, the
Transferors shall not sign any such agreements with suppliers and/or manufacturers. If the Transferors are also concurrently engaged in the Mobile Phone Distribution Business, the Transferors must cause Newco to sign mobile phone sales agreements
with suppliers and/or manufacturers and the Transferors shall not resell mobile phones to Newco. However, this limitation does not apply to the mobile phone retail and/or after-sales service businesses of the Controlling Party and/or the Transferors
in Shanghai. 
 (c) Delivery of operator resources: The telecommunication service agent agreements with regional operators shall have been
amended to identify Newco as a party to the agreements. The Acquirer acknowledges that certain circumstances may make it commercially impracticable to enter into amendments with respect to all of the telecommunication services agent agreements, but
the Controlling Party and/or the Transferors covenant that at least half of the above-mentioned regional operators will have signed amendments identifying Newco as a party to the agreements. 
 (d) Delivery of market resources: At lease half of the product promotion, sales support, store promotion, light box/signage/concession counter rental
and sales person administration agreements and any other agreements involving administration of the Target Businesses (if any) shall have been amended to identify Newco as a party to the agreements. 
 (e) Delivery of human resources: Newco and the Acquirer shall have confirmed the employees to be retained (the “Retained Employees”) by
Newco. The Retained Employees and Newco shall have signed new employment contracts. 
  

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 (f) Newco and the Transferors and other relevant parties shall have signed the necessary agreements
and documents to transfer the above Target Businesses. 
 (4) The auditor jointly designated by the Parties shall have issued an audit report
for the financial conditions of Newco on the Audit Reference Date in accordance with this Agreement. 
 (5) The law firm jointly selected by
the Parties shall have issued a legal opinion regarding the following issues: the legal formation and effective existence of Newco; the deposit of the first installment of RMB 30,000,000 of Registered Capital; and the execution and enforceability of
the agreements providing for the transfer of the Target Assets and the Target Businesses to Newco. 
 (6) After the conditions specified in
Sections (1) through (5) of this Article are satisfied, the Acquirer, the Controlling Party, the Shareholders of Newco and/or Newco shall have signed an Equity Transfer Agreement and the articles of association of Newco (reflecting the
terms of Newco’s organizational structure, management and operation set forth in the Operation and Management Agreement) shall have been submitted to the applicable administration for industry and commerce for filing. In addition, the
applicable administration for industry and commerce shall have approved the transfer of 51% of the equity interests in Newco to the Acquirer. 
 Article 21 The Controlling Party and/or the Transferors shall exercise their best efforts to perform their obligations under Article 20 and to cause or facilitate the satisfaction of all the conditions specified in Sections
(1) through (3) of Article 20 by September 31, 2008, unless otherwise specified herein. 
 Article 22 The Acquirer
shall exercise its best efforts to cooperate with the Controlling Party, the Transferors and/or Newco to satisfy all of the preceding conditions and to facilitate the satisfaction of the conditions specified in provisions (4) and (5) of
Article 20 within 30 days after the satisfaction of the conditions specified in provisions (1) through (3) of Article 20. 
 Article 23 If any of the conditions specified in Sections (1) through (3) of Article 20 are not satisfied within 180 days after the Acquirer has paid the first installment of the Acquisition Consideration or such extended
period unanimously agreed to by the Parties, the Acquirer shall have the right to terminate this Agreement and the Operation and Management Agreement. In such case, the Controlling Party and the Transferors shall unconditionally, irrevocably and
jointly and severally return the first installment (including the Deposit, without interest) to the Acquirer within 10 days after receipt from the Acquirer of written notice to such effect. If the Acquirer presents reasonable evidence of willful
acts or omissions by the Controlling Party or the Transferors that make it commercially impracticable to achieve such conditions by the specified time, the Controlling Party and the Transferors shall return to the Acquirer an amount equal to two
times the Deposit. 
 Chapter 5 Covenants and Warranties by the Controlling Party and Transferors 
 Article 24 The Controlling Party and Transferors hereby jointly and severally covenant and warrant to the Acquirer as follows (such covenants and
warranties to be true as of the Execution Date and the Closing Date unless otherwise specified in this Article 24): 
 (1) All the information
and documents (regarding the Target Assets, the Target Businesses, the Transferors and Newco) provided by the Controlling Party and the Transferors to the Acquirer in the course of due diligence investigations, discussions and negotiations for the
purpose of executing this Agreement are true, complete and accurate and contain no misrepresentations, omissions or information that has become materially misleading since its disclosure. 
 (2) The Controlling Party is the sole beneficial owner of the Target Assets and the Transferors hold the legal title to the Target Assets and the Target
Businesses. Together, the Controlling Party and the Transferors hold all necessary power and authority to execute and perform their obligations under this Agreement and to transfer all of the Target Assets and the Target Businesses to Newco by the
Closing Date pursuant to this Agreement. 
  

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 (3) The execution, delivery and performance of this Agreement by the Controlling Party and the
Transferors will not result in a violation of their respective articles of association, any laws, regulations or any judicial or administrative orders, awards or judgments binding thereon or any agreements or covenants involving a third party. In
addition, such execution, delivery and performance will not result in claims brought against the Controlling Party, the Transferors, the Acquirer or Newco, whether separately or jointly, stating that this agreement is void or is in violation of the
rights of the claimant and claiming damages, payments of liquidated damages or any rights in the Target Assets and the Target Businesses. 
 (4) Unless otherwise specified herein, the Controlling Party and the Transferors shall irrevocably be jointly and severally responsible for their obligations, responsibilities and/or liabilities under this Agreement. 
 Article 25 In connection with the delivery of the Target Assets and the Target Businesses and the formation, maintenance and operation of Newco,
the Controlling Party and the Transferors jointly and severally make the following covenants and warranties to the Acquirer: 
 (1) By the
Closing Date, Newco is legally and effectively registered and shall have obtained all of the licenses, permits, approvals, authorizations, exemptions, consents and registrations necessary to legally and effectively operate the Target Businesses in
their existing places of business. 
 (2) The Registered Capital of Newco shall have been contributed in full and shall not have been
withdrawn or used for any purposes other than for operating Newco in accordance with the terms of this Agreement. 
 (3) During the Operating
Profit Index Lockup Period, Newco shall remain in continuous legal existence and maintain compliance with all applicable laws and regulations (including by avoiding acts or omissions that could jeopardize the continuous legal existence of Newco).

 (4) Delivery of the Target Assets and the Target Businesses: 
 (a) None of the Target Assets shall be subject to, affected or limited by any ownership disputes, mortgages, pledges or liens or any encumbrances,
limitations of rights or any other liabilities in any form, or agreements for or promises that would permit or facilitate any of the above. 
 (b) The agreements setting forth the Target Assets and the Target Businesses to be delivered to Newco shall be confirmed by the Acquirer. No Target Assets or Target Businesses that have not been confirmed by the Acquirer will be delivered
to Newco. 
 (c) The inventory to be delivered shall be authentic and meet applicable industry sales standards. 
 (d) The Controlling Party and the Transferors shall use their best efforts to ensure that the leasing agreements of all retail stores have been amended
so that Newco is named as the tenant thereunder (including by means of a legal assignment to Newco of the leases) and so that the terms of the leases shall expire no earlier than March 31, 2011. If, for any reason, any of the above amendments
are not completed, the Controlling Party and the Transferors covenant that (i) more than 90% (whether calculated by the number of stores or by sales volume) of the retail store leases may be deemed to be executed under the name of Newco,
whether through its affiliation or cooperation with the Controlling Party and/or the Transferors or otherwise, on the same lease terms set forth under the original agreements; (ii) such retail stores can continuously operate in the ordinary
course under the “Guanzhilin” trade name and their financial statements may be consolidated with those of Newco; and (iii) once such barriers to amendment are addressed, the Controlling Party and the Transferors will amend and
re-execute the leases as soon as practicable under the name of Newco. Any dispute, arbitration or litigation with respect to the retail stores operated under the provisions of this Section before March 31, 2011 shall be resolved by the
Controlling Party and/or the Transferors. 
  

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 (e) The Controlling Party and the Transferors shall make arrangements for all employees that the
Acquirer decides not to employ. The Controlling Party and/or the Transferors shall be responsible for resolving all labor disputes and any settlements, arbitrations or actions resulting therefrom and the above dispute shall not become the
responsibility or liability of the Acquirer or Newco. 
 (f) If the audited value of the “net assets” (for which the calculation
method is set forth above in Article 16) of Newco on the Audit Reference Date is less than RMB 100,000,000, the Controlling Party and the Shareholders of Newco shall pay the Acquirer the amount of any deficiency prior to the Closing Date.

 (g) Within 90 days after the Closing Date, if the Acquirer discovers any discrepancy (including but not limited to the asset quantity or
value) between the assets listed in the audit report and the assets actually held by Newco on the Audit Reference Date, the Controlling Party, the Shareholders of Newco and/or the Transferors shall furnish the amount of any deficiency within 10 days
after receipt of written notice from the Acquirer. 
 (5) Financial and tax issues: 
 (a) The books, accounts and other financial records of Newco shall be kept according to Chinese accounting standards. The financial results from the
formation date of Newco to the Closing Date shall be truly and fairly audited. 
 (b) All disputes, litigation, administrative actions,
investigations, sanctions or orders resulting from any taxation issues (including but not limited to tax declarations, execution of tax policies, tax preferences or tax payments) on the part of the Controlling Party, the Shareholders of Newco, Newco
and/or the Transferors that cause losses to Newco prior to the Closing Date shall be settled by the Controlling Party and/or the Transferors and shall not become the responsibility or liability of the Acquirer or Newco. 
 (6) Labor relations: 
 (a) All overdue
salaries, reconciliation fees, compensation, litigation fees, monetary settlements or other expenses resulting from any labor disputes between or among Newco and/or the Transferors and their respective employees prior to the Closing Date shall be
settled by the Controlling Party and/or the Transferors and shall not become the responsibility or liability of the Acquirer or Newco. 
 (b) All compensation in connection with the termination of the employment relationships of the Retained Employees with the Transferors shall be borne by the Controlling Party and/or the Transferors and shall not become the responsibility or
liability of the Acquirer or Newco. The length of service with Newco of the Retained Employees shall be re-calculated. If the Retained Employees terminate their employment with Newco after the Closing Date, Newco shall be responsible for the
monetary compensation in proportion to the term of service of such employees. 
 (7) Social insurance: Newco shall procure social insurance
for its employees in accordance with applicable Chinese laws. All losses sustained by Newco as a result of Newco and/or the Transferors failing to pay all or any portion of employee social insurance premiums, social benefit funds or social welfare
fees, or any fines or sanctions imposed by the applicable government labor agency prior to the Closing Date shall be paid by the Controlling Party and/or the Transferors rather than by the Acquirer. If any actual losses are incurred by Newco as a
result of any such failure(s), the Controlling Party and the Transferors shall unconditionally, jointly and severally, compensate Newco for such amount in full within 10 days. 
 (8) Businesses: The Target Businesses will continue to be operated in the ordinary course of business and their operations will not be altered or
interrupted. 
  

 18 

 CONFIDENTIAL 
  

 (9) Claims and liabilities: 
 (a) As of the Closing Date, Newco does not have any outstanding loans, debts or other liabilities due to any banks, companies or other persons, except
for those incurred in the ordinary course of business. 
 (b) As of the Closing Date, Newco has not provided any guarantees in any form to
any persons or entities. 
 (c) As of the Closing Date, except for prepaid, ordinary course office expenses in a reasonable amount (in
amounts not greater than RMB 10,000 individually and RMB 500,000 in the aggregate), Newco has not loaned any funds to any persons or entities. 
 (10) As of the Closing Date, Newco will not have been involved in or subject to (and Newco covenants not to be involved in or subject to any of the following in the future) any administrative investigations, sanctions, material litigation,
arbitrations or disputes, and there will not be any outstanding judgments, awards, fines or court orders against Newco. As of the Closing Date, Newco will not have committed (and Newco covenants not to commit any of the following in the future) any
actions which may lead to administrative sanctions, criminal violations or breaches of any contractual or legal obligations. 
 (11) Without
the prior written consent of the Acquirer, the Controlling Party and the Transferors shall not dispose of their equity interests in Newco and shall not impose any limitations on such equity interests, including, but not limited to, transfers of such
equity interests (except transfers to the Acquirer or any other party designated thereby), pledges, mortgages, option rights, acquisition rights, preemptive rights, custody, trust, lien or any other rights in any form. 
 (12) Non-competition: The Controlling Party, the Transferors and their Affiliates shall not, directly or indirectly, engage in any activities that
constitute or may constitute competition against Newco, or any activities that deprive, impair or infringe upon or may deprive, impair or infringe upon the business interests or business opportunities of Newco, or gain from or own any interest in
such activities. The Controlling Party and the Transferors agree they will compensate Newco and the Acquirer for all losses sustained as a result of the Controlling Party’s and the Transferors’ breach of any such non-competition
obligations. The Controlling Party and the Transferors also covenant that if the Controlling Party, the Transferors or their Affiliates engage in any mobile phone retail activities (without the written consent of the Acquirer) in any form in any
city where Newco has already established retail stores, the Controlling Party and the Transferors shall pay to the Acquirer liquidated damages in the amount of RMB 500,000 for each store. Any form of competition engaged in by any of the Affiliates
of the Controlling Party and/or the Transferors will be regarded as a breach by the Controlling Party and/or the Transferors of this Article, and the Controlling Party and the Transferors shall be jointly and severally liable for such breach. The
Parties agree that the non-competition regions specified herein for the Controlling Party and the Transferors are Jiangsu Province, Shandong Province and Shanxi Province. 
 Article 26 The Controlling Party and the Transferors shall use their best efforts to assist in the execution, approval, registration, modification and filing requirements necessary for the performance of this
Agreement. 
 Chapter 6 Covenants and Warranties by the Acquirer 
 Article 27 The Acquirer hereby covenants and warrants to the Controlling Party and the Transferors as follows: 
 (a) The Acquirer is a limited liability company duly organized and validly existing under the laws of the PRC and has the power to execute and deliver
this Agreement. 
 (b) The relevant organization within the Acquirer that has the power to approve the execution of this Agreement has
granted the official authority to execute and perform this Agreement. 
  

 19 

 CONFIDENTIAL 
  

 (c) The execution and performance of this Agreement by the Acquirer will not cause it to violate its
articles of association or any laws, regulations or any judicial or administrative orders, awards or judgments binding thereon or breach any other agreements, covenants made to third parties, or result in any entity claiming any rights, damages or
liquidated damages arising out of this Agreement or filing a claim against the Acquirer, the Transferors or the Controlling Party, separately or jointly, on the basis that this Agreement is invalid or void. 
 (d) Non-competition: the Acquirer and its Affiliates shall not directly or indirectly engage in any activities that constitute or may constitute
competition against Newco, or any activities or ownership of assets or equity interests that deprive, impair or infringe upon or may deprive, impair or infringe upon the business interests or business opportunities of Newco, or gain from or own any
interest in such activities. The Acquirer agrees it will compensate Newco and the Controlling Party for all losses sustained as a result of the Acquirer’s breach of any such non-competition obligations. The Acquirer also covenants that if the
Acquirer or its Affiliates engage in any mobile phone retail activities (without the written consent of the Controlling Party) in any form in any city where Newco has already established retail stores, the Acquirer shall pay to the Controlling Party
liquidated damages in the amount of RMB 500,000 for each store. Any form of competition engaged in by any of the Affiliates of the Acquirer will be regarded as a breach by the Acquirer of this Article. The Parties agree that the non-competition
regions specified herein for the Acquirer are Jiangsu Province, Shandong Province and Shanxi Province. 
 Article 28 Following the
execution of this Agreement and during the Operating Profit Index Lockup Period, if any mobile phone retail stores established by the Controlling Party and/or the Transferors outside of the non-competition regions are profitable and have
demonstrated growth potential, the Acquirer will agree to acquire the assets, businesses and/or equity interests of such stores in accordance with the formula specified herein for calculating the Acquisition Consideration and sign any necessary
separate or supplemental agreements to effect the acquisition. 
 Article 29 The Acquirer shall use its best efforts to perform the
execution, approval, registration, modification and filing requirements necessary for the performance of this Agreement. 
 Chapter 7
Assumption of Debts of Newco 
 Article 30 Notwithstanding the covenants and warranties made in Chapter 5, the Controlling Party
and the Transferors covenant that, if at any time prior to the Closing Date there exists any Undisclosed Liabilities; any forms of infringement, illegality or other unauthorized actions; any compensation, liquidated damages, unpaid taxes, fees,
social insurance, social benefit funds, or social welfare fees or fines required by any judicial or administrative orders, judgments or awards, the Controlling Party, the Shareholders of Newco and the Transferors shall, within 10 days after receipt
of written notice from the Acquirer, unconditionally, irrevocably, jointly and severally pay all such obligations and/or liabilities by making compensation, payments or settlements, on behalf of themselves or Newco, to ensure that Newco will not
bear the costs of any such obligations and/or liabilities after the Closing Date (other than such liabilities that normally accrue in the ordinary course of business and while the Controlling Party, the Transferors, the Shareholders of Newco and
Newco are in compliance with applicable laws and regulations). 
 Chapter 8 Limitations on the Rights of the Controlling Party

 Article 31 Within the Operating Profit Index Lockup Period, the Controlling Party shall pledge its ownership of 49% of the
equity interests in Newco to the Acquirer as a guarantee for both the performance of this Agreement and the Operation and Management Agreement and for the achievement of the Operating Profit Index. Accordingly, the Controlling Party shall, within
three business days after the Closing Date, deliver to the Acquirer the original share certificate for its 49% equity interest in Newco and the original list of the Shareholders of Newco evidencing the pledge of 49% of the equity interests in Newco,
and shall covenant to unconditionally cooperate in satisfying the pledge registration requirements for pledging its 49% equity interests in Newco to the Acquirer within 10 business days after the applicable administration for industry and commerce
begins to process the registration of the equity pledge. 
  

 20 

 CONFIDENTIAL 
  

 Article 32 Within the Operating Profit Index Lockup Period, the Controlling Party shall not
dispose of any of its equity interests in Newco or subject such interests to any limitations, including but not limited to equity transfers (excluding the transfer to the Acquirer), pledges (excluding the pledge to the Acquirer or a third party
agreed to by the Acquirer as specified in Article 31), mortgages, option rights, acquisition rights, preemptive rights, custody, trusts, liens or any other rights in any form. 
 Article 33 After the expiration of the Operating Profit Index Lockup Period, the Controlling Party shall have the right to dispose of the equity
interests it holds in Newco. If the Controlling Party transfers to any third party all or any part of its equity interests in Newco, the Acquirer shall have the preemptive right to acquire such equity interests upon the same terms and conditions.

 If the Net Profits of Newco in each Audited Year within the Operating Profit Index Lockup Period reach the corresponding Operating Profit
Index, the Acquirer guarantees that it shall acquire those equity interests in Newco that the Controlling Party plans to transfer. The consideration for the equity transfer shall be calculated according to the following formula: 
 Consideration for the equity transfer = A × MIN (******, B) × percentage (%) of the equity interests the Controlling Party plans to transfer, where: 
 A = Actual Net Profits of Newco for the one year prior to the equity transfer; 
 B = The fair multiple value unanimously agreed to by the Acquirer and the Controlling Party; and 
 B 3 ******; MIN (******, B) means no less than ****** times. 
 If the Acquirer or an Affiliate, the
financial statements of which are consolidated with those of Newco, is publicly listed or plans to become publicly listed on any stock exchange in China or abroad (“Publicly Listed”), the Controlling Party shall have the right to
request the payment for the equity transfer in either of the following means from the Acquirer: (1) in cash in RMB; or (2) in shares of the company that is Publicly Listed or plans to become Publicly Listed. If option (2) is selected
and the payment will be made in shares of an overseas company, the Parties shall ensure that payment in such shares complies with the requirements of the Notice of the State Administration of Foreign Exchange on Relevant Issues concerning Foreign
Exchange Administration for Domestic Residents to Engage in Financing and in Return Investment through Overseas Special Purpose Companies and other applicable Chinese laws and regulations. 
 Article 34 The Acquirer has the right to transfer all or part of its equity interest in Newco to its Affiliates at any time in connection with the
Reorganization. If the Acquirer exercises such right, the Controlling Party agrees to unconditionally waive any right of first refusal it may have as a shareholder of Newco. 
 The Acquirer covenants that, if the Reorganization occurs, the Acquirer must disclose the Reorganization to the Controlling Party and shall fully
disclose this Agreement and the Operation and Management Agreement to the other parties to the Reorganization and induce such other parties to the Reorganization to: (1) agree to and confirm the obligations of the Acquirer under this Agreement
and the Operation and Management Agreement and (2) agree to, after becoming a shareholder of Newco, comply with all provisions in this Agreement and the Operation and Management Agreement relating to the structure and authorizations of the
board of directors and general manager of Newco. If the Acquirer does not satisfy the requirements of the preceding sentence, the Acquirer shall not enter into such Reorganization and the Controlling Party shall have the right of first refusal.

  

	*	Confidential material redacted and filed separately with the Securities and Exchange Commission. 

	*	Confidential material redacted and filed separately with the Securities and Exchange Commission. 

	*	Confidential material redacted and filed separately with the Securities and Exchange Commission. 

	*	Confidential material redacted and filed separately with the Securities and Exchange Commission. 

  

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 CONFIDENTIAL 
  

 The Acquirer also confirms that, even after the occurrence of the Reorganization referred to in the
preceding paragraph, the Acquirer shall not attempt to recover any amounts of Acquisition Consideration previously paid by it to the Controlling Party and/or the Transferors and shall pay the outstanding Acquisition Consideration to the Controlling
Party and/or the Transferors in accordance with the provisions of this Agreement. 
 Article 35 If Newco, the Acquirer or an Affiliate
the financial statements of which are consolidated with those of Newco is successfully Publicly Listed, the Controlling Party may exercise a put right to require the Acquirer to purchase at least 29% of the equity interests in Newco from the total
of 49% equity interests in Newco held by the Controlling Party. The Acquirer shall be obligated to purchase the equity interests if the Controlling Party invokes its put right and shall pay the Controlling Party an amount of consideration for such
equity transfer calculated according to the following formula: 
 Consideration for the equity transfer = A × MIN (******, B) × percentage (%) of the equity interests that the Controlling
Party plans to transfer, where: 
 A = Actual Net Profits of Newco for the one year prior to the equity transfer; 

B = The fair multiple value unanimously agreed by the Acquirer and the Controlling Party; and 
 B 3 *******; MIN (******, B) means no less than ****** times. 
 If Newco, the Acquirer or an Affiliate the financial statements
of which are consolidated with those of Newco is successfully Publicly Listed, the Acquirer may exercise a call right to require the Controlling Party to sell at least 29% of the equity interests in Newco from the total of 49% equity interests in
Newco held by the Controlling Party. The Controlling Party shall be obligated to sell the equity interests if the Acquirer invokes its call right, and the Acquirer shall pay the Controlling Party an amount of consideration for such equity transfer
calculated according to the following formula: 
 Consideration for the
equity transfer = A × MIN (******, B) × the percentage (%) of the equity interests that the Acquirer plans to acquire, where:

 A = Actual Net Profits of Newco for the one year prior to the equity transfer; 
 B = The fair multiple value unanimously agreed by the Acquirer and the Controlling Party; and 
 B 3 ******; MIN (******, B) means no less than ****** times. 
  

	*	Confidential material redacted and filed separately with the Securities and Exchange Commission. 

	*	Confidential material redacted and filed separately with the Securities and Exchange Commission. 

	*	Confidential material redacted and filed separately with the Securities and Exchange Commission. 

	*	Confidential material redacted and filed separately with the Securities and Exchange Commission. 

	*	Confidential material redacted and filed separately with the Securities and Exchange Commission. 

	*	Confidential material redacted and filed separately with the Securities and Exchange Commission. 

	*	Confidential material redacted and filed separately with the Securities and Exchange Commission. 

	*	Confidential material redacted and filed separately with the Securities and Exchange Commission. 

  

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 CONFIDENTIAL 
  

 Upon the exercise of either the put or call rights as set forth in the preceding paragraphs, the
Controlling Party shall have the right to request that the Acquirer pay the consideration for an equity transfer either in cash in RMB or in shares of the Publicly Listed company. 
 When the actual Net Profits of Newco for an Audited Year within the Operating Profit Index Lockup Period reach the corresponding Operating Profit Index,
the Acquirer shall acquire the equity interests in accordance with the provisions of this Article. If Newco, the Acquirer or an Affiliate the financial statements of which are consolidated with those of Newco is Publicly Listed by December 31,
2009, the Acquirer shall acquire an increased percentage of shares after and in accordance with an audit report showing that the Annualized Net Profits of Newco have reached the Guaranteed Net Profit Base. The equity acquisition under this Article
does not relieve the Controlling Party of its obligation to achieve the Operating Profit Index for the remaining years within the Operating Profit Index Lockup Period. 
 Chapter 9 Audits and Appraisals 
 Article 36 The audits and appraisals on Newco include the
internal audits and appraisals conducted by the Acquirer and any external audits or appraisals performed by an independent third party. 
 Article 37 The auditor and appraiser, as independent third parties under this Agreement, shall be mutually approved by the Acquirer, the Controlling Party and/or the Transferors, but the Acquirer shall bear the associated audit and
appraisal expenses. 
 Article 38 The audit and appraisal results issued by the auditor and appraiser under this Agreement shall be
subject to mutual confirmation by the Acquirer, the Controlling Party and/or Transferors. 
 Article 39 All of the audits and
appraisals performed by the auditor and appraiser under this Agreement and the internal audits performed by the Acquirer shall follow the requirements of the critical accounting policies below: 
 (1) Inventories shall be accounted for on the basis of actual procurement costs. 
 (2) The value of Fixed Assets shall be determined according to the audit report issued on the Audit Reference Date by an auditor mutually approved by the
Parties. If the auditor cannot obtain reliable accounting materials to confirm the value of such assets, the Parties shall agree to determine such amounts using any of the following methods: (a) the result of appraisals based on fair market
value; (b) the amount determined by the Parties through negotiation; or (c) if there are any disagreements on the asset values and the Transferors cannot provide reasonable and satisfactory support or evidence regarding the asset values to
the Acquirer, the Acquirer may refuse to acquire such assets on behalf of Newco. 
 (3) The value of real property will be determined on the
basis of the appraisal results. 
 (4) The straight-line method shall be used to calculate the depreciation of fixed assets over the longest
applicable number of years available for such fixed assets in accordance with the applicable accounting standards. 
 Chapter 10
Confidentiality 
 Article 40 The Parties agree that, regardless of whether or not the transfer of the Target Equity is
successful, each Party shall keep confidential all trade secrets it obtains from other parties during the process of performing this Agreement. The term of this confidentiality obligation shall extend until the relevant trade secret is publicly
disclosed by its owner. Without the prior written consent of all other Parties, no Party hereto shall publish any media reports, announcements, circulars, notices or other documents regarding the preparation or execution of the provisions of this
Agreement or regarding any transactions or arrangements hereunder or any issues relating hereto, unless (a) required by any applicable laws, regulatory rules or exchange listing requirements of the New York Stock Exchange, NASDAQ National
Market, Hong Kong Exchanges and Clearing Limited, London 

  

 23 

 CONFIDENTIAL 
  

 
Stock Exchange, Singapore Exchange Limited and any other stock exchange; or (b) disclosed by the Acquirer to its shareholders, controllers, investment
consultants, financial consultants, auditors and legal service institutions while using its best efforts to protect and to encourage such other persons to protect the confidentiality of such information. 
 Chapter 11 Notices 
 Article 41
Any notices and other documents delivered hereunder shall be made in writing and sent courier, express mail or facsimile to the Parties at the following addresses and/or facsimile numbers, or at such other addresses and/or facsimile numbers
later provided to the other parties. 
  

			
	(i)	  	 Acquirer: Beijing Feijie Investment Co., Ltd
 Address:
Office Building, 3/F, South Chang’an Xingrong Center, No. 1, Naoshikou Ave,
 Xicheng District, Beijing
 Fax: 010 5832 5959
 Attn: Dongping Fei

		
	(ii)	  	 Controlling Party: Zhuqun Peng
 Address: No. 1285
Renmin Road Suzhou, Jiangsu Province.
 Fax: 0512 6522 3856

		
	(iii)	  	Transferors: c/o the Controlling Party

 Article 42 If any of such notices and other documents are delivered by courier, it shall be
regarded as properly sent after being received by the recipient; if it is sent by facsimile, it shall be regarded as properly sent after receipt of the reply code or facsimile confirmation; if it is sent via mail, it shall be regarded as properly
sent on the 7th day after being posted. To prove that such notices or documents have been sent, the Party must only show that such notices have been placed at or sent to the addresses of the recipients, or the addresses of the recipients have been
properly written on the mailing envelope and such items have been properly sent. 
 Chapter 12 Taxes and Charges 
 Article 43 Each Party shall be responsible for all fees and expenses incurred by it in investigating, negotiating, drafting, executing and
performing this Agreement and all the transactions contemplated herein. 
 Article 44 The Acquirer, the Controlling Party and/or the
Transferors shall bear the respective taxes and fees charged by applicable administrative authorities for the transfer of the Target Assets and the Target Businesses hereunder. 
 Article 45 Unless otherwise required by relevant laws or otherwise agreed to herein, each Party hereto shall pay all taxes and fees required by
applicable laws and regulations relating to the transactions hereunder. 
 Article 46 If, under the requirements of relevant laws and
regulations, the Acquirer has the obligation to withhold or pay any taxes and fees for and on behalf of the Controlling Party and/or the Shareholders of Newco for payment of the Acquisition Consideration, the Acquirer shall first withhold or pay
such taxes and fees and then recover them from the Controlling Party and/or the Shareholders of Newco. 
 Chapter 13 Force Majeure 

 Article 47 If it is commercially impracticable to perform this Agreement due to any force majeure, then any nonperformance of the
obligations under this Agreement relating to such force majeure shall be excused. “Force majeure” means any event, circumstance or occurrence that cannot be foreseen, avoided or reasonably controlled by the Parties and cannot be avoided or
mitigated by the Parties by taking reasonable and 

  

 24 

 CONFIDENTIAL 
  

 
cautious measures, thus directly or indirectly preventing the performance of any material obligation hereunder. Such events, circumstances or occurrences
include but are not limited to natural disasters, wars, fires, explosions, earthquakes, epidemics, floods and storms. If any force majeure event occurs, making it commercially impracticable for any Party to perform the terms and conditions herein,
such Party shall notify the other Parties within 14 days of the occurrence of the force majeure event and provide the details of the force majeure event in such notice. No delay or failure to perform this Agreement caused by any force majeure event
will constitute a default on the part of such Party or become the basis for any claims for compensation, indemnification or sanctions. Upon the occurrence of a force majeure event, all Parties shall have the obligation to take reasonable measures to
perform this Agreement where practical and feasible. Within 14 days after the force majeure event has ended, such Party shall notify the other Parties of the end of the force majeure event and shall ensure the receipt of such notice by all other
Parties. 
 Article 48 If a force majeure event occurs before the Closing Date, making it commercially impracticable to perform this
Agreement, and the force majeure event lasts for more than 6 months, the Parties may negotiate to terminate this Agreement and shall not be liable to the other Parties for breach of this Agreement. 
 Chapter 14 Breach of Contract 
 Article 49 If any Party fails to perform this Agreement in whole or in part or breaches any covenants, representations and/or warranties made hereunder, or if any covenants, representations and/or warranties made by any Party
hereunder prove to be invalid, untrue, inaccurate or incomplete, it will constitute a breach of contract hereunder. In such case, unless otherwise specified in this Agreement, the breaching Party shall be liable to the non-breaching Party for any
and all actual losses caused by such breach of contract and shall fully compensate the non-breaching Party to whom such covenants, representations and/or warranties are made. Compensation for losses caused by breach shall include but not be limited
to all losses and any litigation, arbitration, evaluation and notarization fees incurred by the non-breaching Party for the breach of contract. If more than one Party breaches this Agreement, each Party shall bear the liabilities of damages caused
by its own breach of contract. None of the provisions of this Article shall prevent any Party from exercising any other legal rights or remedies, including the right to request specific performance pursuant to the Contract Law of the People’s
Republic of China. 
 Article 50 If the Controlling Party, the Shareholders of Newco and/or the Transferors breach this Agreement, the
Acquirer shall have the right to deduct compensation for losses suffered from the Acquisition Consideration and, if the Acquisition Consideration is insufficient to cover the compensation, legally dispose of the equity interests in Newco pledged by
the Controlling Party to the Acquirer to offset such amount. 
 Article 51 If the Acquirer breaches this Agreement, the Controlling
Party, Newco and/or the Transferors shall have the right to deduct compensation for their losses from any Acquisition Consideration that should be returned to the Acquirer and to file a claim against the Acquirer for the uncovered amount.

 Chapter 15 Governing Law and Settlement of Disputes 
 Article 52 This Agreement is governed, limited and protected by the laws of the PRC. All interpretation, performance, modification, termination, effectiveness, or dispute settlement of or relating to this
Agreement shall be subject to the laws of the PRC. 
 Article 53 Any disputes arising between or among Parties from the consummation,
interpretation, performance and/or effectiveness of or relating to this Agreement shall be settled through negotiation. In case negotiation fails to resolve any dispute, any Party shall have the right to submit such dispute to the China
International Economic and Trade Arbitration Commission Shanghai Sub-Commission for arbitration in accordance with such commission’s then applicable arbitration rules. The arbitration decision shall be final and binding on the Parties to such
dispute. 
  

 25 

 CONFIDENTIAL 
  

 Chapter 16 Effectiveness 
 Article 54 After being duly executed and/or affixed with the company seal by the Parties or their authorized representatives, this Agreement will
become effective on the date first written above and be legally effective and binding on all Parties. On and from the Execution Date hereof, all Parties shall strictly perform their obligations in accordance with the provisions hereof. 

Article 55 The relevant organization (such as the shareholders or board of directors) of the Acquirer and the Transferors have executed the
resolutions of the shareholder’s meeting, the resolutions of the board of directors and/or the decision of owners officially approving the execution and the performance of this Agreement, as well as the transfer of the Target Assets and the
Target Businesses to Newco. 
 Article 56 If any provisions herein are subsequently held to be invalid, illegal or unenforceable under
applicable Chinese law, the other provisions hereof will still remain valid and binding on all Parties, provided that such invalid, illegal or unenforceable provisions do not affect the overall performance and material terms of this Agreement.

 Chapter 17 Miscellaneous 
 Article 57 This Agreement constitutes the entire agreement of the Parties on all issues covered hereby and replaces all prior intentions, understandings, agreements and other written records or oral agreements between or among all
the Parties relating to such issues. 
 Article 58 Where permitted by applicable Chinese law, no failure or delay to exercise any
rights, powers or privileges under this Agreement by any Party hereto shall be regarded as a waiver of such rights, powers or privileges. Any and all rights, powers or privileges specified herein are cumulative and do not prevent the exercise of any
other rights, powers or privileges, regardless of whether they are specified by applicable laws. The partial or limited exercise of any such rights, powers or privileges shall not bar the further exercise of any other such rights, powers or
privileges in future. 
 Article 59 This Agreement has twenty-nine counterparts, one counterpart for each Party hereto, and all
counterparts shall have the same legal force. 
 Schedules to this Agreement: 
  

			
	Schedule 1	  	List of Transferors
	Schedule 2	  	List of Intangible Assets
	Schedule 3	  	List of Retailing Stores

 [Remainder of page intentionally left blank] 
  

 26 

 CONFIDENTIAL 
  

 Signature page to Acquisition Framework Agreement 
 Acquirer: Beijing Feijie Investment Co., Ltd 

			
	Signature:	 	 /s/ Dongping Fei

 Name of Authorized Representative: Dongping Fei 
  

 27 

 CONFIDENTIAL 
  

 Signature page to Acquisition Framework Agreement 
 Controlling Party: Zhuqun Peng 

			
	Signature:	 	 /s/ Zhuqun Peng

 Identity card number: 320626197005208816 
  

 28 

 CONFIDENTIAL 
  

 Signature page to Acquisition Framework Agreement 
 Transferors: 
 Suzhou Guanzhilin Telecommunications Equipment Co., Ltd. (Official Seal) 

			
	Signature/seal:	 	 /s/ Zhuqun Peng

	Name of Authorized Representative: Zhuqun Peng

 Wujiang Guanzhilin Telecommunications Equipment Co., Ltd. (Official Seal) 

			
	Signature/seal:	 	 /s/ Zhuqun Peng

	Name of Authorized Representative: Zhuqun Peng

 Kunshan Guanzhilin Telecommunications Equipment Co., Ltd. (Official Seal) 

			
	Signature/seal:	 	 /s/ Zhuqun Peng

	Name of Authorized Representative: Zhuqun Peng

 Wuxi Guanzhilin Mobile Phones Hypermarket Co., Ltd. (Official Seal) 

			
	Signature/seal:	 	 /s/ Zhuqun Peng

	Name of Authorized Representative: Zhuqun Peng

 Nanjing Runzhilin Telecommunications Equipment Co., Ltd. (Official Seal) 

			
	Signature/seal:	 	 /s/ Zhuqun Peng

	Name of Authorized Representative: Zhuqun Peng

 Yangzhou Guanzhilin Mobile Phones Hypermarket Co., Ltd. (Official Seal) 

			
	Signature/seal:	 	 /s/ Zhuqun Peng

	Name of Authorized Representative: Zhuqun Peng

 Shanghai Yinqi Telecommunications Equipment Co., Ltd Yancheng Guanzhilin Mobile Phones Hypermarket (Official
Seal) 

			
	Signature/seal:	 	 /s/ Zhuqun Peng

	Name of Authorized Representative: Zhuqun Peng

 Xuzhou Guanzhilin Mobile Phones Hypermarket Co., Ltd. (Official Seal) 

			
	Signature/seal:	 	 /s/ Zhuqun Peng

	Name of Authorized Representative: Zhuqun Peng

 Nantong Guanzhilin Telecommunications Equipment Co., Ltd (Official Seal) 

			
	Signature/seal:	 	 /s/ Zhuqun Peng

	 Name of Authorized Representative: Zhuqun Peng
  

 Taizhou Hailing Guanzhilin Telecommunications Equipment Co., Ltd. (Official Seal) 

			
	Signature/seal:	 	 /s/ Zhuqun Peng

	Name of Authorized Representative: Zhuqun Peng

 Heze Guanzhilin Mobile Phones Hypermarket Co., Ltd. (Official Seal) 

			
	Signature/seal:	 	 /s/ Zhuqun Peng

	Name of Authorized Representative: Zhuqun Peng

 Zaozhuang Guanzhilin Mobile Phones Hypermarket Co., Ltd. (Official Seal) 

			
	Signature/seal:	 	 /s/ Zhuqun Peng

	Name of Authorized Representative: Zhuqun Peng

 Jining Guanzhilin Telecommunications Equipment Co., Ltd. (Official Seal) 

			
	Signature/seal:	 	 /s/ Zhuqun Peng

	Name of Authorized Representative: Zhuqun Peng

  

 29 

 CONFIDENTIAL 
  

 Dongying Guanzhilin Telecommunications Equipment Co., Ltd. (Official Seal) 

			
	Signature/seal:	 	 /s/ Zhuqun Peng

	Name of Authorized Representative: Zhuqun Peng

 Binzhou Guanzhilin Mobile Phones Hypermarket Co., Ltd. (Official Seal) 

			
	Signature/seal:	 	 /s/ Zhuqun Peng

	Name of Authorized Representative: Zhuqun Peng

 Zibo Guanzhilin Telecommunications Equipment Co., Ltd. (Official Seal) 

			
	Signature/seal:	 	 /s/ Zhuqun Peng

	Name of Authorized Representative: Zhuqun Peng

 Rizhao Guanzhilin Mobile Phones Hypermarket Co., Ltd. (Official Seal) 

			
	Signature/seal:	 	 /s/ Zhuqun Peng

	Name of Authorized Representative: Zhuqun Peng

 Taian Guanzhilin Mobile Phones Hypermarket Co., Ltd. (Official Seal) 

			
	Signature/seal:	 	 /s/ Zhuqun Peng

	Name of Authorized Representative: Zhuqun Peng

 Dezhou Guanzhilin Mobile Phones Hypermarket Co., Ltd. (Official Seal) 

			
	Signature/seal:	 	 /s/ Zhuqun Peng

	Name of Authorized Representative: Zhuqun Peng

 Weifang Runlin Guanzhilin Mobile Phones Hypermarket Co., Ltd. (Official Seal) 

			
	Signature/seal:	 	 /s/ Zhuqun Peng

	Name of Authorized Representative: Zhuqun Peng

 Jinan Guanzhilin Mobile Phones Hypermarket Co., Ltd. (Official Seal) 

			
	Signature/seal:	 	 /s/ Zhuqun Peng

	Name of Authorized Representative: Zhuqun Peng

 Jinan Shidai Mobile Phones Square Co., Ltd. (Official Seal) 

			
	Signature/seal:	 	 /s/ Zhuqun Peng

	Name of Authorized Representative: Zhuqun Peng

 Qingdao Guanzhilin Mobile Phones Hypermarket Co., Ltd. (Official Seal) 

			
	Signature/seal:	 	 /s/ Zhuqun Peng

	Name of Authorized Representative: Zhuqun Peng

 Taiyuan Guanzhilin Mobile Phones Hypermarket Co., Ltd. (Official Seal) 

			
	Signature/seal:	 	 /s/ Zhuqun Peng

	Name of Authorized Representative: Zhuqun Peng

 Shanxi Guanzhilin Telecommunications Equipment Co., Ltd. (Official Seal) 

			
	Signature/seal:	 	 /s/ Zhuqun Peng

	Name of Authorized Representative: Zhuqun Peng

 Datong Guanzhilin Mobile Phones Hypermarket Co., Ltd. (Official Seal) 

			
	Signature/seal:	 	 /s/ Zhuqun Peng

	Name of Authorized Representative: Zhuqun Peng

 Shanghai Yanglin Telecommunications Equipement Co., Ltd. (Official Seal) 

			
	Signature/seal:	 	 /s/ Zhuqun Peng

	Name of Authorized Representative: Zhuqun Peng

  

 30 

 FULLY REDACTED VERSION 
 SCHEDULE 1 LIST OF TRANSFERORS 
  

														
	 S/N
	  	 Name
	  	 Registered
Capital
(RMB)
	  	 Business License No.
	  	 Name of Shareholders/
Percentage
	 	 	 Name of Legal
Representative/
Owner

	 1
	  	Suzhou Guanzhilin Telecommunications Equipment Co., Ltd.	  	1,000,000	  	3205032101045	  	Zhuqun Peng	  	70	%	 	Zhuqun Peng
	  	  		  		  	Sujuan Li	  	28	%	 
	  	  		  		  	Guanzhilin Hypermarket	  	2	%	 
	 2
	  	Wujiang Guanzhilin Telecommunications Equipment Co., Ltd.	  	500,000	  	 3205842187338
	  	Zhuqun Peng	  	60	%	 	Yong Lu
	  	  		  		  	Sujuan Li	  	40	%	 
	 3
	  	Kunshan Guanzhilin Telecommunications Equipment Co., Ltd.	  	500,000	  	3205832114431	  	Zhuqun Peng	  	80	%	 	Lifeng Zhou
	  	  		  		  	Yong Cheng	  	10	%	 
	  	  		  		  	Lifeng Zhou	  	10	%	 
	 4
	  	Wuxi Guanzhilin Mobile Phones Hypermarket Co., Ltd.	  	1,200,000	  	320200000097302	  	Suzhou Guanzhilin	  	5	%	 	Sujuan Li
	  	  		  		  	Efeng Peng	  	30	%	 
	  	  		  		  	Sujuan Li	  	65	%	 
	 5
	  	Nanjing Runzhilin Telecommunications Equipment Co., Ltd.	  	500,000	  	3201032312000	  	Zhuqun Peng	  	80	%	 	Yongjun Gu
	  	  	  	  	Sujuan Li	  	20	%	 
	 6
	  	Yangzhou Guanzhilin Mobile Phones Hypermarket Co., Ltd.	  	500,000	  	3210002303530	  	Zhuqun Peng	  	75	%	 	Yang Chen
	  	  	  	  	Jingtu Yao	  	25	%	 
	 7
	  	Shanghai Yinqi Telecommunications Equipment Co., Ltd Yancheng Guanzhilin Mobile Phones Hypermarket	  		  		  		  			 	Guohua Chen
	 8
	  	Xuzhou Guanzhilin Mobile Phones Hypermarket Co., Ltd.	  	500,000	  	3203002114697	  	Zhuqun Peng	  	70	%	 	Zhonghua Peng
	  	  	  	  	Efeng Peng	  	30	%	 
	 9
	  	Nantong Guanzhilin Telecommunications Equipment Co., Ltd.	  	500,000	  	3206002115986	  	Meiqun Peng	  	10	%	 	Meiqun Peng
	  	  	  	  	Weixing Gao	  	10	%	 
	  	  	  	  	Weizhou Yao	  	26	%	 
	  	  	  	  	Yingen Peng	  	27	%	 
	  	  	  	  	Zhuqun Peng	  	27	%	 
	 10
	  	Taizhou Hailing Guanzhilin Telecommunications Equipment Co., Ltd.	  	510,000	  	3212022103462	  	Zhuqun Peng	  	80	%	 	Weiping Chen
	  	  	  	  	Weiping Chen	  	20	%	 
	 11
	  	Heze Guanzhilin Mobile Phones Hypermarket Co., Ltd.	  	510,000	  	3717002803670	  	Xiangbing Xue	  	100	%	 	Xiangbing Xue
	 12
	  	Zaozhuang Guanzhilin Mobile Phones Hypermarket Co., Ltd.	  	500,000	  	3704002804829	  	Zhuqun Peng	  	70	%	 	Yehou Zhu
	  	  	  	  	Yehou Zhu	  	30	%	 
	 13
	  	Jining Guanzhilin Telecommunications Equipment Co., Ltd.	  	500,000	  	3708022801153	  	Ping Huang	  	20	%	 	Ping Huang
	  	  	  	  	Zhuqun Peng	  	80	%	 

 Confidential treatment has been requested for portions of this exhibit. The copy filed herewith omits the
information subject to the confidentiality request. Omissions are designated as [*****]. A complete version of this exhibit has been filed separately with the Securities and Exchange Commission. 

														
	 14
	  	Dongying Guanzhilin Telecommunications Equipment Co., Ltd.	  	500,000	  	3705022807584	  	Zhuqun Peng	  	50	%	 	Xinhua Cheng
	  	  	  	  	Xinhua Cheng	  	9	%	 
	  	  	  	  	Weixing Gao	  	10	%	 
	  	  	  	  	Yingen Peng	  	10	%	 
	  	  	  	  	Hailin Zhao	  	21	%	 
	 15
	  	Binzhou Guanzhilin Mobile Phones Hypermarket Co., Ltd.	  	1,000,000	  	3716002802205	  	Zhuqun Peng	  	70	%	 	Zhonghua Peng
	  	  	  	  	Jingchang Yao	  	15	%	 
	  	  	  	  	Zhonghua Peng	  	15	%	 
	 16
	  	Zibo Guanzhilin Telecommunications Equipment Co., Ltd.	  	500,000	  	3703032800558	  	Zhuqun Peng	  	75	%	 	Xinhua Cheng
	  	  	  	  	Xinhua Cheng	  	25	%	 
	 17
	  	Rizhao Guanzhilin Mobile Phones Hypermarket Co., Ltd.	  	500,000	  	3711022800863	  	Jinzhong Yao	  	40	%	 	Jinzhong Yao
	  	  	  	  	Zhuqun Peng	  	60	%	 
	 18
	  	Taian Guanzhilin Mobile Phones Hypermarket Co., Ltd.	  	500,000	  	3709002808920	  	Xiangbing Xue	  	60	%	 	Xiangbin Xue
	  	  	  	  	Shuntian Xue	  	40	%	 
	 19
	  	Dezhou Guanzhilin Mobile Phones Hypermarket Co., Ltd.	  	1,000,000	  	3714002802787	  	Suzhou Guanzhilin	  	5	%	 	Jingchang Yao
	  	  	  	  	Zhonghua Peng	  	15	%	 
	  	  	  	  	Zhuqun Peng	  	65	%	 
	  	  	  	  	Jingchang Yao	  	15	%	 
	 20
	  	Weifang Runlin Guanzhilin Mobile Phones Hypermarket Co., Ltd.	  	500,000	  	3707052802625	  	Weixing Gao	  	10	%	 	Jiangke Xie
	  	  	  	  	Zhuqun Peng	  	80	%	 
	  	  	  	  	Yingen Peng	  	10	%	 
	 21
	  	Jinan Guanzhilin Mobile Phones Hypermarket Co., Ltd.	  	500,000	  	3701022804039	  	Zhuqun Peng	  	77	%	 	Leibing Wang
	  	  	  	  	Yingen Peng	  	9	%	 
	  	  	  	  	Weizhou Yao	  	8	%	 
	  	  	  	  	Weixing Gao	  	6	%	 
	 22
	  	Jinan Shidai Mobile Phones Square Co., Ltd.	  	1,000,000	  	3701002825308	  	Weixing Gao	  	10	%	 	Zhuqun Peng
	  	  	  	  	Zhuqun Peng	  	80	%	 
	  	  	  	  	Yingen Peng	  	10	%	 
	 23
	  	Qingdao Guanzhilin Mobile Phones Hypermarket Co., Ltd.	  	500,000	  	3702032813249	  	Weixing Gao	  	10	%	 	Qun Jiang
	  	  	  	  	Zhuqun Peng	  	70	%	 
	  	  	  	  	Yingen Peng	  	10	%	 
	  	  	  	  	Qun Jiang	  	10	%	 
	 24
	  	Taiyuan Guanzhilin Mobile Phones Hypermarket Co., Ltd.	  	600,000	  	1401002031299	  	Kebing Gong	  	70	%	 	Kebing Gong
	  	  	  	  	Jingtu Yao	  	30	%	 
	 25
	  	Shanxi Guanzhilin Telecommunications Equipment Co., Ltd.	  	1,000,000	  	140100200346480	  	Zhuqun Peng	  	65	%	 	Yongwen Peng
	  	  	  	  	Jintu Yao	  	20	%	 
	  	  	  	  	Yongwen Peng	  	15	%	 
	 26
	  	Datong Guanzhilin Mobile Phones Hypermarket Co., Ltd.	  	300,000	  	14020020067781/1	  	Libing Zhu	  	66.7	%	 	Libing Zhu
	  	  	  	  	Kebing Gong	  	33.3	%	 
	 27
	  	Shanghai Yanglin Telecommunications Equipment Co., Ltd.	  	500,000	  	310104000369676	  	Zhuqun Peng	  	70	%	 	Yong Cheng
	  	  	  	  	Sujuan Li	  	15	%	 
	  	  	  	  	Lei Bao	  	15	%	 

 SCHEDULE 2 LIST OF INTANGIBLE ASSETS 
  

															
	 Type
	  	 Name of Intangible Assets
	  	 Owner/ Applicant
	  	 Have applied to
register or not
	  	 Name of
Certificate
	  	 Certificate No.
	  	 Issuance Institution
	  	 Valid Period

	Trademark	  	Guanzhilin	  	Zhuqun Peng	  	Yes	  	Type 35 of Trademark Registration Certificate	  	4043120	  	Trademark Bureau of State Administration of Industry and Commerce	  	20073282017327
								
	Domain Name	  	Guanzhilin	  		  	No	  		  		  		  	
								
	Software	  	Boyuan ERP System	  	Using Right/ Ownership of Secondary Development	  		  		  		  		  	
	  	  
 EABAX Financial System
	  	  
 Using Right/ Ownership of Secondary Development
	  		  		  		  		  	

 SCHEDULE 3 LIST OF RETAILING STORES 
  

																	
	 S/N
	  	 Name
	  	 Opening
Date
	  	 Address
	  	 Region
	  	 Borrower
	  	 Lease Expiry
Date
	  	 Area in
Use (m2)
	  	 Monthly Rent
(2007) subject
to the Contract

	1	  	Leqiao Store	  	2001.9.6	  	No. 1285 Renmin Road, Suzhou	  	Jiangsu	  	Suzhou Guanzhilin Telecommunications Equipment Co., Ltd.	  	2014.4.30	  	1200	  	
									
	2	  	Wumei Store	  	2002.3.18	  	No. 1543 Renmin Road, Suzhou	  	Jiangsu	  	Suzhou Guanzhilin Telecommunications Equipment Co., Ltd.	  	2009.3.31	  	200	  	******
									
	3	  	Shilu No. 1 Store	  	2002.5.1	  	No. 49 Jinmen Road Jinchang District Suzhou	  	Jiangsu	  	Suzhou Guanzhilin Telecommunications Equipment Co., Ltd.	  		  	140	  	******
									
	4	  	Shilu No. 2 Store	  	2007.9.30	  	No. 29 Shi Road, Jinchang District, Suzhou	  	Jiangsu	  	Suzhou Guanzhilin Telecommunications Equipment Co., Ltd.	  	2011.9.6	  	143	  	******
									
	5	  	Mudu Store	  	2006.11.18	  	No. 2 Zhongshi Street Mudu District, Suzhou	  	Jiangsu	  	Suzhou Guanzhilin Mobile Phones Hypermarket Co., Ltd.	  	2012.10.27	  	100	  	******
									
	6	  	Nanmen Store	  	2006.12.26	  	No. 458 Renmin Road, Suzhou	  	Jiangsu	  	Suzhou Guanzhilin Telecommunications Equipment Co., Ltd.	  	2010.10.19	  	120	  	******
									
	7	  	Guanqian Store	  	2007.4.28	  	1/F, No. 212 Guanqian Street Renmin Road, Suzhou	  	Jiangsu	  	Suzhou Guanzhilin Telecommunications Equipment Co., Ltd.	  	2014.2.28	  	600	  	******

  

	 *
	 Confidential material redacted and filed separately with the Securities and Exchange Commission.

																	
	8	  	Suzhou Customer Service	  	2006.8.1	  	No. 8, 10 Jiayufang, Suzhou	  	Jiangsu	  	Suzhou Guanzhilin Mobile Phones Hypermarket Co., Ltd.	  	2016.7.31	  	216	  	******
									
	 9
	  	Wujiang Store	  	2006.12.28	  	No. 49 Yongkang Road, Wujiang	  	Jiangsu	  	Suzhou Guanzhilin Telecommunications Equipment Co., Ltd.	  	2011.12.31	  	540	  	******
									
	 10
	  	Shengze Store	  	2006.12.28	  	No. 4 Shichang Road, Shengze, Wujiang	  	Jiangsu	  	Suzhou Guanzhilin Telecommunications Equipment Co., Ltd.	  	2017.1.1	  	132	  	******
									
	 11
	  	Dajie Store	  	2006.12.28	  	No. 42 Dajie Road, Shengze, Wujiang	  	Jiangsu	  	Suzhou Guanzhilin Telecommunications Equipment Co., Ltd.	  	2011.12.31	  		  	******
									
	 12
	  	Kunshan Store	  	2006.3.11	  	No. 97-7 Renmin Road South Yushan District, Kunshan	  	Jiangsu	  	Suzhou Guanzhilin Mobile Phones Hypermarket Co., Ltd.	  	2011.3.5	  	800	  	******
									
	 13
	  	Kunshan No. 2 Store	  	2007.7.1	  	No. 165 Renmin Road South Yushan District, Kunshan	  	Jiangsu	  	Kunshan Guanzhilin Telecommunications Equipment Co., Ltd.	  	2008.6.15	  	240	  	******
									
	 14
	  	Taicang Store	  	2008.4.1	  	No. 70 Xinhua Road East, Taicang	  	Jiangsu	  	Suzhou Guanzhilin Telecommunications Equipment Co., Ltd.	  	2011.3.31	  	360	  	******
									
	 15
	  	Zhongshan Store	  	2007.1.8	  	No. 2 Dacheng Street, Wuxi	  	Jiangsu	  	Wuxi Guanzhilin Mobile Phones Hypermarket Co., Ltd.	  	2009.1.7	  	149.56	  	******

  

	 *
	 Confidential material redacted and filed separately with the Securities and Exchange Commission.

																	
	16	  	Tianan Store	  	2004.5.1	  	1/F, Tianan Building, Wuxi	  	Jiangsu	  	Wuxi Guanzhilin Mobile Phones Hypermarket Co., Ltd.	  	2008.4.30	  	110	  	******
									
	17	  	Xinjiekou Store	  	2007.2.1	  	A17 Zhenghong Shopping Center, Hongwu Road, Baixia District, Nanjing	  	Jiangsu	  	Suzhou Guanzhilin Telecommunications Equipment Co., Ltd.	  	2013.1.20	  	250.7	  	******
									
	18	  	Jiangning Store	  	2007.6.1	  	No. 1 Dajie Road West Dongshan Street Jiangning District, Nanjing	  	Jiangsu	  	Nanjing Guanzhilin Telecommunications Equipment Co., Ltd.	  	2017.6.19	  	140	  	******
									
	19	  	Yangzhou Store	  	2005.10.1	  	No. 9 Siwangting Road, Yangzhou	  	Jiangsu	  	Suzhou Guanzhilin Mobile Phones Hypermarket Co., Ltd.	  	2016.2.28	  	350	  	******
									
	20	  	Yancheng Store	  	2005.9.8	  	No. 59 Jianjun Road Middle, Yancheng	  	Jiangsu	  	Shanghai Yinqi Telecommunications Equipment Co., Ltd. Guanzhi Mobile Phones Hypermarket Nantong Branch	  	2010.9.17	  	300	  	******
									
	21	  	Xuzhou Store	  	2005.9.18	  	No. 125-3 Huaihai Road East, Xuzhou	  	Jiangsu	  	Suzhou Guanzhilin Mobile Phones Hypermarket Co., Ltd.	  	2010.9.30	  	400	  	******

  

	 *
	 Confidential material redacted and filed separately with the Securities and Exchange Commission.

																	
	22	  	Xuzhou No. 2 Store	  	2007.10.1	  	No. 137 Huaihai Road East, Xuzhou	  	Jiangsu	  	Xuzhou Guanzhilin Mobile Phones Hypermarket Co., Ltd.	  	2013.10.15	  	1250	  	******
									
	23	  	Nantong Store	  	2002.3.1	  	No. 3 Renmin Road East Nantong	  	Jiangsu	  	Nantong Guanzhilin Telecommunications Equipment Co., Ltd.	  	Till now	  	593	  	******
									
	24	  	Qidong Store	  	2007.8.8	  	Gate 7-8 B Area Gongyuan Road Middle, Qidong	  	Jiangsu	  	Nantong Guanzhilin Telecommunications Equipment Co., Ltd.	  	2015.8.11	  	110.8	  	******
									
	25	  	Taizhou Store	  	2007.8.18	  	No. 114 Tongluowan Square, Pozi Street, Hailing District, Taizhou	  	Jiangsu	  	Taizhou Hailing Guanzhilin Telecommunications Equipment Co., Ltd.	  	2012.9.12	  	280.82	  	******
									
	26	  	Heze Store	  	2005.9.26	  	No. 1 Dongfanghong Street West, Heze	  	Shandong	  	Suzhou Guanzhilin Mobile Phones Hypermarket Co., Ltd. Jinan Branch	  	2017.8.15	  	670	  	******
									
	27	  	Zaozhuang Store	  	2005.12.25	  	No. 39 Junshan Road, Shizhong District, Zaozhuang	  	Shandong	  	Zaozhuang Guanzhilin Mobile Phones Hypermarket Co., Ltd.	  	2012.8.31	  	460	  	******
	28	  	Jining Store	  	2004.9.1	  	1/F, Jining Cinema No. 1 Guhuai Road, Jining	  	Shandong	  	Zhuqun Peng, Ping Huang	  	2010.12.1	  	400	  	******
	29	  	Dongying No.3 Store	  	2007.7.9	  	No. 54 Jinan Road, Dongying	  	Shandong	  		  	2010.5.1	  	250	  	******

  

	 *
	 Confidential material redacted and filed separately with the Securities and Exchange Commission.

																	
	 30
	  	Dongying Old Store	  	2005.7.16	  	Household Electrical Appliances Department, Department Store, Dongying	  	Shandong	  	Zibo Guanzhilin Telecommunications Equipment Co., Ltd.	  	2010.7.15	  	180	  	
	31	  	Bingzhou Store	  	2005.7.8	  	West to cinema on No.7 Bohaiqi Road, Bingzhou	  	Shandong	  	Bingzhou Guanzhilin Mobile Phones Hypermarket Co., Ltd.	  	2012.6.19	  	400	  	******
	32	  	Zibo Store	  	2004.12.26	  	No. 1 Shanshi Street, Zhangdian District, Zibo	  	Shandong	  	Zibo Guanzhilin Telecommunications Equipment Co., Ltd.	  	2014.3.15	  	200	  	******
	33	  	Linzi Store	  	2005.5.1	  	Shengda Supermarket, Linzi, Zibo	  	Shandong	  	Zibo Guanzhilin Telecommunications Equipment Co., Ltd.	  	2008.5.19	  	85	  	
	34	  	Rizhao Store	  	2005.9.1	  	No. 22 Middle Haiqu Road, Rizhao	  	Shandong	  		  	2012.3.15	  	708.5	  	******
	35	  	Taian Store	  	2004.6.18	  	No. 11 Tiantingyuan, Longtan Road, Taian	  	Shandong	  		  	2009.6.8	  	320	  	******
	36	  	Taian No. 2 Store	  		  	Zhongduan Dai Temple Office Liangxiao, Caiyuan Street, Taian	  	Shandong	  	Taian Guanzhilin Mobile Phones Hypermarket Co., Ltd.	  	2009.12.31	  	480	  	******
	37	  	Dezhou No. 1 Store	  	2004.6.26	  	1/F Xinhua Building, Wenhua Road, Decheng District, Dezhou	  	Shandong	  	Suzhou Guanzhilin Mobile Phones Hypermarket Co., Ltd. Jinan Branch	  	2009.6.15	  	322	  	******

  

	 *
	 Confidential material redacted and filed separately with the Securities and Exchange Commission.

																	
	38	  	Dezhou No. 2 Store	  	2007.8.1	  	1/F Madunhe Shopping Center, Hubing Road South, Dezhou	  	Shandong	  	Dezhou Guanzhilin Mobile Phones Hypermarket Co., Ltd.	  	2010.6.9	  	380	  	******
	39	  	Weifang No. 2 Store	  	2007.9.8	  	No. 1 Building, No. 569 Shengli Street West, Weicheng District, Weifang	  	Shandong	  	Weifang Runlin Guanzhilin Mobile Phones Hypermarket Co., Ltd.	  	2013.7.21	  	133.36	  	******
	40	  	Weifang No. 1 Store	  	2007.1.30	  	No. 381 Dongfeng Street East, Weifang	  	Shandong	  	Jinan Guanzhilin Mobile Phones Hypermarket Co., Ltd.	  	2015.12.15	  	400	  	******
	41	  	Quancheng Road Store	  	2003.7.1	  	No. 21 Baobei Road, Jinan	  	Shandong	  	Shanghai Yinqi Telecommunications Equipment Co., Ltd.	  	2009.8.16	  	680	  	******
	42	  	Honglou Store	  		  	No. 29 Honglou Road West, Licheng District, Jinan	  	Shandong	  	Jinan Guanzhilin Mobile Phones Hypermarket Co., Ltd.	  	2014.2.28	  	140	  	******
	43	  	Jinan Customer Service	  	2006.12.10	  	1/F First Room at West Gate, Huier Shopping Center, Jinan	  	Shandong	  	Suzhou Guanzhilin Mobile Phones Hypermarket Co., Ltd. Jinan Branch	  	2009.12.9	  	85	  	******
	44	  	Unicom Shidai Store	  	2005.8.1	  	1/F Fengli Building, No. 318 Quancheng Road, Jinan	  	Shandong	  	Jinan Shidai Mobile Phones Square Co., Ltd.	  	2010.5.20	  	1700	  	******

  

	 *
	 Confidential material redacted and filed separately with the Securities and Exchange Commission.

																	
	45	  	Qingdao Store	  	2007.9.19	  	1/F No. 58 Taidongsan Road, Shibei District, Qingdao	  	Shandong	  		  	2010.8.31	  	280	  	******
	46	  	Taiyuan Store	  	2006.7.28	  	1/F Zhongcai Building, No. 6 Jiefang Road South, Taiyuan	  	Shanxi	  		  	2012.12.26	  	1858	  	******
	47	  	Fubaijia Store	  	2007.8.23	  	Fujiabai Shopping Mall Jiefang Road, Taiyuan	  	Shanxi	  	Taiyuan Guanzhilin Mobile Phones Hypermarket Co., Ltd.	  	2012.8.19	  	448	  	******
	48	  	Tangming Store	  	2007.12.15	  	No. 201 1/F Tangming Restaurant, Yingze Street, Taiyuan	  	Shanxi	  	Shanxi Guanzhilin Telecommunications Equipment Co., Ltd.	  	2012.11.8	  	230	  	******
	49	  	Datong No. 1 Store	  	2007.4.28	  	No. 41, Daxi Street, Datong	  	Shanxi	  	Datong Guanzhilin Mobile Phones Hypermarket Co., Ltd.	  	2012.4.27	  	300	  	******
	50	  	Datong No. 2 Store	  	2007.10.1	  	No. 1 Daxi Street, Datong	  	Shanxi	  	Datong Guanzhilin Mobile Phones Hypermarket Co., Ltd.	  	2012.10.1	  	900	  	******
	51	  	Xuhui Store	  	2007.2.14	  	No. 1033 Zhaojiabang Road, Xuhui District, Shanghai	  	Shanghai	  	Suzhou Guanzhilin Telecommunications Equipment Co., Ltd.	  	2015.1.8	  	102	  	******
	52	  	Sanlin Store	  	2007.5.1	  	Lingyan Road South, Pudong, Shanghai	  	Shanghai	  	Shanghai Yanglin Telecommunications Equipment Co., Ltd.	  	2012.12.31	  	150	  	******

  

	 *
	 Confidential material redacted and filed separately with the Securities and Exchange Commission.

																	
	53	  	Songjiang Store	  	2007.9.8	  	No. 226 Zhongshan Road Middle, Songjiang, Shanghai	  	Shanghai	  	Shanghai Yanglin Telecommunications Equipment Co., Ltd.	  	2012.9.9	  	148	  	******
	54	  	Jiading Store	  	2007.3.8	  	No. 2 Chengzhong Road, Jiading, Shanghai	  	Shanghai	  	Suzhou Guanzhilin Telecommunications Equipment Co., Ltd.	  	2012.3.15	  	220	  	******
	55	  	Tesco Store	  	2007.9.6	  	No. 2 Chengzhong Road, Jiading, Shanghai	  	Shanghai	  	Shanghai Yanglin Telecommunications Equipment Co., Ltd.	  	2009.8.31	  	75.5	  	******
	56	  	Songjiang No. 2 Store	  	2008.4.12	  	No. 219 Zhongshan Road Middle, Songjiang, Shanghai	  	Shanghai	  	Shanghai Yanglin Telecommunications Equipment Co., Ltd.	  	2011.3.31	  	80	  	******
	57	  	Liaocheng Store	  	2004.12.22	  	No. 73 Liuyuan Road North, Liaocheng	  	Shandong	  	Suzhou Guanzhilin Telecommunications Equipment Co., Ltd.	  	2007.12.26	  	230	  	******
	58	  	Linyi Store	  	2005.8.28	  	Household Electrical Appliances Department of Kaimei Electrical Appliances Co., Ltd., Linyi	  	Shandong	  	Zibo Telecommunications Equipment Co., Ltd.	  	2012.6.27	  	400	  	******

  

	 *
	 Confidential material redacted and filed separately with the Securities and Exchange Commission.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00157-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00157-of-00352.parquet"}]]