Document:

Exclusive Business Cooperation Agreement, dated as of May 18, 2010

 Exhibit 10.32 

EXCLUSIVE BUSINESS COOPERATION 

AGREEMENT 

between 

SHANGHAI RAMPAGE SHOPPING CO., LTD 

and 
 RAMPAGE
TRADING (SHANGHAI) CO., LTD. 
 Dated May 18, 2010 

 This EXCLUSIVE BUSINESS COOPERATION AGREEMENT (the “Agreement”) is executed
on May 18, 2010 in             , the People’s Republic of China (“China”) by the following parties: 

 

	(A)	Shanghai Rampage Shopping Co., Ltd. (“Rampage Shopping”), a domestic limited liability company organized and existing under the laws of China, having
its registered address at Room 2084, C, Building 7, No.2 Guanshan Road, Chenqiao Town, Chongming County, Shanghai, China; and 

  

	(B)	RAMPAGE TRADING(Shanghai) Co., Ltd. (“RAMPAGE TRADING”), a wholly foreign owned enterprise organized and existing under the laws of China having its
registered address at Room 2098, C, Building 3, No.8 Xiushan Road, Chongming County, (Chongming Industrial Zone), Shanghai, China. 

Rampage Shopping and RAMPAGE TRADING are each hereinafter referred to individually as a “Party” and
collectively as “Parties.” 
 RECITALS 

RAMPAGE TRADING is a technology company with a wide range of resources and the global expertise to provide unique technical and business
consulting services to Rampage Shopping. Rampage Shopping is a company with a duly approved business scope of clothing, office supplies, computers, furniture, merchandise sales, delivery service (letter or items like letter excluded), design,
production of various types of advertisements, advertising via its own media in China as approved by the appropriate Chinese government authorities (the “Business”). Rampage Shopping desires to enter into an exclusive agreement with
RAMPAGE TRADING pursuant to which RAMPAGE TRADING will provide technical, consulting, and other services to Rampage Shopping related to the Business. 

Therefore, the Parties agree as follows: 

ARTICLE I.  

DEFINITIONS AND INTERPRETATIONS 

1.1 Definitions. Unless otherwise provided, the expressions below shall have the following meanings throughout this Agreement:

 “Business” shall have the meaning as set forth in Recital. 

“CIETAC” shall mean the China International Economic and Trade Arbitration Commission. 

“Fee(s)” shall have the meaning as set forth in Section 3.1. 

“Government Licenses” shall mean all licenses, permits, approvals, permissions, consents, waivers or
registrations required or issued by a government authority of China. 
 “Services” shall have the
meaning as set forth in Section 2.1. 
 “Term” shall have the meaning as set forth in
Section 4.1. 
  

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 1.2 Headings. The headings in this Agreement are for convenience only and shall not
affect the construction of the Agreement. 
 1.3 Interpretation. Unless otherwise provided, the words, expressions, and
references below shall have the following meanings: 
 (a) References to the sections and schedules of this
Agreement include any amendments to them that may occur from time to time. 
 (b) References to this Agreement or
any other agreement or document include any amendments, notations, or supplements to the Agreements or documents that may occur from time to time. 

(c) References to any statute or statutory provision include any amendments, extensions, consolidations, or replacements
pertaining to the statute or provision and any statute or provision that amends, extends, consolidates, or replaces the statute or provision, and shall also include any orders, regulations, instruments, or other subordinate legislation made under
the relevant statute or provision. 
 (d) Words denoting the singular include the plural and vice versa;

 (e) References to a “Person” include individuals, firms, partnerships, joint ventures,
companies, corporations, unincorporated bodies of persons, states, and any agencies of states and their assigns, transferees, or successors in title. 

(f) The words “including” and “in particular” simply illustrate or emphasize certain
terms within a provision and they shall not limit any provision in any way. 
 ARTICLE II. 

SCOPE OF SERVICES 

2.1 Description of Services. Rampage Shopping hereby engages RAMPAGE TRADING as Rampage Shopping’s exclusive service provider
for Rampage Shopping’s Business in China and exclusive consultant for business and technical support during the Term of this Agreement. Such services include but are not limited to technical support, business consulting, intellectual property
licensing, equipment or property leasing, marketing, system integration, product research and development, system maintenance, and such other services as necessary to the operation of Rampage Shopping as determined in RAMPAGE TRADING’s sole
discretion (collectively, the “Services”). The Parties shall complete and execute specific statements of work substantially in the form of Schedule 1 attached hereto for performance of the Services. 

2.2 Exclusivity. During the Term of this Agreement, without the prior written consent of RAMPAGE TRADING, Rampage Shopping shall
not (i) solicit or accept any Services from any third party in connection with the Business without the prior written consent of RAMPAGE TRADING, or (ii) enter into any cooperation agreement with any third party regarding the matters
contemplated by this Agreement. 
  

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 ARTICLE III. 

SERVICE FEES 

3.1 Fees for the Services provided under this Agreement (the “Fees”) shall be determined and paid pursuant to
Schedule 1 hereto, without any withholding or set-off for any reason. 
 ARTICLE IV.  

TERM 

4.1 This Agreement is effective as of the date hereof and shall remain effective for a period of ten (10) years (the
“Term”), unless earlier terminated or renewed in accordance with the terms hereof. Notwithstanding the forgoing, following the execution of this Agreement, the Parties shall review its provisions with respect to Services and Fees
from time to time to determine any need to amend or supplement the terms hereof in accordance with the circumstances existing at such time and may amend such schedule by preparing and executing a revised Schedule 1 with effect from the date
thereof. 
 ARTICLE V.  

TERMINATION 

5.1 This Agreement is effective as of the date hereof and shall remain effective for a period of ten (10) years, unless earlier
terminated or renewed by RAMPAGE TRADING at its sole discretion upon thirty (30) days’ prior written notice to Rampage Shopping prior to the expiration of the Term. 

5.2 Rampage Shopping shall not terminate this Agreement prior to the expiration of the Term. 

ARTICLE VI.  

INTELLECTUAL PROPERTY RIGHTS 

6.1 RAMPAGE TRADING shall have exclusive proprietary rights to and interests in all rights, ownership, and interests in any intellectual
properties arising from the performance of this Agreement, including but not limited to copyrights, patents, patent applications, trademarks, software, technical secrets, trade secrets know-how, and any other intellectual property created by Rampage
Shopping or RAMPAGE TRADING. 
 ARTICLE VII.  

COVENANTS 

7.1 Rampage Shopping covenants as follows: 

(a) It will not, without the prior written consent of RAMPAGE TRADING, solicit or accept any Services from any third party
in connection with the Business or enter into any cooperation agreement (whether in the form of service, lease, business cooperation or otherwise) with any third party regarding the matters contemplated by this Agreement; 

 

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 (b) It will not recruit or hire any new employee without the prior written
consent of RAMPAGE TRADING; and 
 (c) Rampage Shopping will consult with RAMPAGE TRADING before making any
decision that may have a material effect on Rampage Shopping’s business or operations. Additionally, Rampage Shopping will faithfully execute any lawful business and technical instructions or directives issued by RAMPAGE TRADING at anytime,
unless the instruction or directive manifests gross negligence. 
 ARTICLE VIII.  

REPRESENTATIONS AND WARRANTIES 

8.1 Rampage Shopping represents and warrants to RAMPAGE TRADING as follows: 

(a) Rampage Shopping is a trading company duly registered, validly existing and in good standing under the laws of China,
with full power and authority to own, operate and lease its assets or properties and to conduct the Business as currently conducted. Rampage Shopping has obtained all necessary approvals from third parties and government agencies, and is authorized
by all appropriate government authorities, to conduct the Business throughout China. 
 (b) All consents,
approvals, authorizations and orders necessary for the execution, delivery and performance by Rampage Shopping of this Agreement have been duly and lawfully obtained, and Rampage Shopping has full right, power and capacity to execute, deliver and
perform this Agreement. The execution and performance of this Agreement by Rampage Shopping is within the scope of its business operations. 

(c) The execution, delivery and performance of this Agreement and the consummation of the transaction contemplated hereby
will not (i) violate any laws or regulations of China, (ii) conflict with or result in a breach or violation of any contracts to which Rampage Shopping is a party; or (ii) violate any conditions of licenses or permits necessary to
Rampage Shopping’s Business. 
 (d) This Agreement represents Rampage Shopping’s legal, valid and
binding obligations enforceable according to its terms. 
 8.2 RAMPAGE TRADING represents and warrants to Rampage Shopping as
follows: 
 (a) RAMPAGE TRADING is a company legally registered and validly existing under the laws of the
People’s Republic of China; 
 (b) the execution and performance of this Agreement is within RAMPAGE
TRADING’s corporate capacity and the scope of its business operations; 
 (c) RAMPAGE TRADING has taken all
necessary corporate actions to obtain approval and authority to enter into this Agreement; and 
  

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 (d) this Agreement represents RAMPAGE TRADING’s legal, valid and
binding obligations enforceable according to its terms. 
 ARTICLE IX.  

BREACH OF AGREEMENT AND INDEMNIFICATION 

9.1 Each of the following circumstances shall constitute a breach of this Agreement: 

(a) Non-payment: Rampage Shopping fails to pay any Fees due to RAMPAGE TRADING under the terms and conditions of
this Agreement; 
 (b) Breach of Other Obligations: any Party fails to comply with its obligations under
this Agreement; including a breach of any representation or warranty, or statement made any Party; 
 (c)
Failure of Creditworthiness: any indebtedness of Rampage Shopping is declared or becomes due and payable prior to its maturity, is not paid when due, or any creditor of a borrower becomes entitled to declare any indebtedness due and payable
prior to its maturity; 
 (d) Enforcement Proceedings: a creditor attaches or takes possession of the
assets of Rampage Shopping or causes a distress, execution, sequestration, or other process to be levied or enforced against any of the assets of Rampage Shopping; or 

(e) Material Adverse Event: any event occurs that might have a material adverse effect on RAMPAGE TRADING’s
rights and interests under this Agreement. 
 9.2 Rampage Shopping shall indemnify and hold harmless RAMPAGE TRADING from any
damages, losses, injuries, obligations or expenses of any lawsuit, claims or other demands against RAMPAGE TRADING and its directors, officers, employees, agents and affiliates arising from or in connection with any breach of this Agreement by
Rampage Shopping. 
 ARTICLE X. 

NO JOINT VENTURE. 

10.1 The Parties, by this Agreement, do not intend to create a partnership, principal/agent, master/servant or joint venture
relationship, and nothing in this Agreement shall be construed as creating such a relationship between the Parties. No Party nor its agents or employees are the representatives of the other Parties for any purpose except as expressly set forth in
this Agreement, and no Party has the power or authority as agent, employee or any other capacity to represent, act for, bind or otherwise create or assume any obligation on behalf of the other Parties for any purpose whatsoever. 

 

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 ARTICLE XI.  

NOTICES 

11.1 Each notice under this Agreement shall be in writing in English and Chinese and delivered by telex, fax, or letter. Each notice,
communication, or other document to be delivered to any Party to this Agreement shall be delivered to the Party’s address or fax number as set out below: 

To RAMPAGE TRADING: 

Address: Room 2098, C, Building 3, No.8 Xiushan Road, 

Chongming County, (Chongming Industrial Zone) , 

Shanghai, China 

Tel: (86 21) 64950555 

Fax: (86 21) 64950508 

Attention: Zhang Bang 

To Rampage Shopping: 

Address: Room 2084, C, Building 7, No. 2 Guanshan Road, 

Chenqiao Town, Chongming County, Shanghai, China 

Tel: (86 21) 64950555 

Fax: (86 21) 64950508 

Attention: Zhang Bang 

ARTICLE XII.  

ASSIGNMENTS AND TRANSFERS 

12.1 Rampage Shopping shall not assign or delegate its rights and obligations under this Agreement without RAMPAGE TRADING’s prior
written consent. 
 12.2 RAMPAGE TRADING may assign any or all of its rights and obligations under this Agreement. Any such
assign shall have all of RAMPAGE TRADING’s rights and obligations under this Agreement as if it were the original party to this Agreement. If RAMPAGE TRADING assigns its rights and obligations under this Agreement, Rampage Shopping shall
execute all agreements or other documents necessary to perfect such assignment upon RAMPAGE TRADING’s request. 
 12.3 This
Agreement shall be binding upon Rampage Shopping and their successors and any assigns permitted by RAMPAGE TRADING, and it shall be enforceable by RAMPAGE TRADING and each of its successors and assigns. 

12.4 In the event that RAMPAGE TRADING is restructured for any reason, Rampage Shopping shall execute a new agreement with the newly
restructured RAMPAGE TRADING on the same terms and conditions as this Agreement at the request of RAMPAGE TRADING. 
  

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 ARTICLE XIII.  

CONFIDENTIALITY 

13.1 Each Party hereto agrees to treat information relating to the existence and all material aspects of the transactions contemplated
hereby and/or contained herein that is provided to such party by another party or its representatives, as confidential information and agrees not to disclose such information to any Person without the prior written consent of the disclosing Party,
except that each Party may disclose such confidential information (i) to its attorneys, accountants, advisors and consultants, provided such persons are subject to confidentiality obligations, (ii) on a need-to-know basis, to its
affiliates, and their employees, officers and directors provided such persons are subject to confidentiality obligations, (iii) any applicable government authority as required by applicable laws or as appropriate to ensure that all Government
Licenses continue in effect and are not in danger of being suspended, terminated or not renewed, and (iv) as otherwise required by applicable laws. Prior to any disclosure under (iii) or (iv) above, the disclosing Party shall have
notified the other Parties of the disclosing Party’s intention to make such disclosure and the contents thereof. 
 13.2
This Section 13 shall survive for a period of two years following the termination of this Agreement. 
 ARTICLE XIV. 

 GOVERNING LAW AND SETTLEMENT OF DISPUTES 

14.1 Governing Law. This Agreement, including the validity hereof and the rights and obligations of the Parties hereunder, shall
be construed in accordance with and governed by the laws of China. 
 14.2 Settlement of Disputes. In the event that a
dispute arises in connection with this Agreement, and the Parties cannot resolve the dispute through good faith discussions, either Party shall submit the dispute to arbitration before the Shanghai branch of China International Economic and Trade
Arbitration Commission (“CIETAC”) according to the rules of arbitration as administered by the CIETAC at the time. There shall be a single arbitrator. If the Parties do not agree to appoint an arbitrator who has consented to
participate within twenty (20) days after the issuance of a notice of arbitration by any Party hereto, CIETAC shall appoint an arbitrator. Arbitration proceedings shall be in English and shall take place in Shanghai, China. The arbitration
decision shall be final and binding upon the Parties. 
 ARTICLE XV. 

AMENDMENTS AND WAIVER 

15.1 Amendments. This Agreement may not be amended or modified except in writing by RAMPAGE TRADING. 

15.2 No Implied Waivers. RAMPAGE TRADING may exercise its rights under this Agreement as often as necessary to protect its
interests, and such rights are in addition to any rights applicable to RAMPAGE TRADING under law. RAMPAGE TRADING shall not waive any of its rights, except specifically in writing. RAMPAGE TRADING’s delay in exercising any right is not a waiver
of the right. 
  

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 ARTICLE XVI. 

MISCELLANEOUS 

16.1 Further Assurance. Rampage Shopping agrees to execute and deliver such further documents and do such other acts and things as
RAMPAGE TRADING may reasonably request in order to fulfill the obligations of Rampage Shopping under this Agreement and protect RAMPAGE TRADING’s interests. 

16.2 Entire Agreement. This Agreement constitutes the entire Agreement between the Parties hereto in relation to the Services and
supersede all previous proposals, agreements, or other written or oral communications. All Schedules referred to herein are incorporated in this Agreement by reference and constitute an integral part of this Agreement. 

16.3 Termination. This Agreement shall become effective on the date it is executed. This Agreement may be terminated by RAMPAGE
TRADING at its sole discretion pursuant to the terms and condition hereunder. 
 16.4 Severability and Replacement. In
the event that one or several of the provisions of this Agreement are found to be invalid, illegal or unenforceable in any aspect in accordance with any laws or regulations, the validity, legality or enforceability of the remaining provisions of
this Agreement shall not be affected or compromised in any respect. The Parties shall strive in good faith to replace such invalid, illegal or unenforceable provisions with effective provisions that accomplish to the greatest extent permitted by law
the intentions of the Parties, and the economic effect of such effective provisions shall be as close as possible to the economic effect of those invalid, illegal or unenforceable provisions. 

16.5 Languages. This Agreement shall be written in English and Chinese. Each Party shall have one equally valid copy of the
Agreement in each language. Both languages shall be equally effective. In case of any discrepancies between the two languages, the English version shall prevail. 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 
  

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 IN WITNESS WHEREOF the Parties hereto have caused this Agreement to be duly executed
by their authorized representatives on the date first above written. 
 Shanghai Rampage Shopping Co., Ltd. 

[seal: Shanghai Rampage Shopping Co., Ltd.] 

RAMPAGE TRADING (Shanghai) Co., Ltd. 

[seal: RAMPAGE TRADING (Shanghai) Co., Ltd.] 

 Schedule 1 

Statement of Work 

This Statement of Work is made as of May 18, 2010 by and between Shanghai Rampage Shopping Co., Ltd. (“Rampage Shopping”)
and RAMPAGE TRADING(Shanghai) Co., Ltd. (“RAMPAGE TRADING”) in accordance with the Exclusive Business Cooperation Agreement entered into on May 18, 2010 by the same parties. 

 

	 	1.	Description of Services/Deliverables: 

  

	 	2.	Start Date: 

  

	 	3.	End Date: 

  

	 	4.	Payments: 

 The
aforementioned work may be provided by RAMPAGE TRADING, its affiliates or its subcontractors. 
 RAMPAGE TRADING (Shanghai) Co., Ltd.

 [seal: RAMPAGE TRADING (Shanghai) Co., Ltd.] 

Shanghai Rampage Shopping Co., Ltd. 

[seal: Shanghai Rampage Shopping Co., Ltd.]Equity Pledge Agreements

 Exhibit 10.33 

EQUITY PLEDGE AGREEMENT 

among 

Column A 

(“Pledgor”) 

and 
 SHANGHAI
RAMPAGE SHOPPING CO., LTD. 
 (“Rampage Shopping”) 

and 
 RAMPAGE
TRADING (SHANGHAI) CO., LTD. 
 (“Beneficiary”) 

Dated Column B 
  

 1 

 This EQUITY PLEDGE AGREEMENT (this “Agreement”) is made on Column B
in             , the People’s Republic of China (“China”) by and among the following parties: 

 

	(A).	Column A (“Pledgor”), a citizen of China with Chinese Identification No.: Column C whose address is Column D;

  

	(B).	Shanghai Rampage Shopping Co., Ltd. (“Rampage Shopping”), a limited company organized and existing under the laws of China, having its registered
address at Room 2084, C, Building 7, No.2 Guanshan Road, Chenqiao Town, Chongming County, Shanghai, China; and 

  

	(C).	Rampage Trading (Shanghai) Co., Ltd. (the “Beneficiary”), a foreign invested enterprise organized under the laws of the People’s Republic of China
having its registered address at Room 2098, C, Building 3, No.8 Xiushan Road, Chongming County, (Chongming Industrial Zone) , Shanghai, China. 

The Pledgor, the Beneficiary, and Rampage Shopping shall hereinafter be referred to individually as a “Party”, and
collectively as “Parties.” 
 RECITALS 

Rampage Shopping is a company with a duly approved business scope of clothing, office supplies, computers, furniture, merchandise sales,
delivery service (letter or items like letter excluded), design, production of various types of advertisements, advertising via its own media in China (the “Business”). The Pledgor holds Column E of the equity
interests of Rampage Shopping. 
 The Pledgor has entered into a Loan Agreement with the Beneficiary on the date herewith (the
“Loan Agreement”). The Parties have also entered into certain other principal agreements in connection herewith, as set forth on Schedule 1 hereto (collectively with the Loan Agreement, the “Principal
Agreements”). 
 The Pledgor has agreed to pledge all of his rights, title, and interest in the equity interest of
Rampage Shopping (the “Interests”) to the Beneficiary as collateral for all payments due to the Beneficiary under the Loan Agreement and each of the other Principal Agreements, and to enter into this Agreement to secure its
obligations to the Beneficiary under the Loan Agreement and the other Principal Agreements. 
 Therefore, the Parties agree as
follows: 
 ARTICLE I. 

DEFINITIONS AND INTERPRETATIONS 

1.1 Definitions. Unless otherwise provided, the expressions below shall have the following meanings throughout this agreement:

 “Business” shall have the meaning set forth in Recitals. 

“CIETAC” shall mean the China International Economic and Trade Arbitration Commission. 

 

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 “China” shall mean the People’s Republic of China. 

“Encumbrance” means any lien, encumbrance, hypothecation, right of others, proxy, voting trust or similar arrangement, pledge,
security interest, collateral security agreement, mortgage, objection, title defect, title retention agreement, option, restrictive covenant, restriction on transfer, right of first refusal or first offer, or any comparable interest or, of any
nature whatsoever. 
 “Event of Default” shall have the meaning set forth in Section 12.1 of the Loan Agreement.

 “Exclusive Purchase Option Agreement” shall mean the Exclusive Purchase Option Agreement entered into by and among
the Pledgor, the Beneficiary and Rampage Shopping as of the same date as the execution of this Agreement, pursuant to which the Pledgor has agreed to grant to the Beneficiary an exclusive option to purchase the Pledged Interests. 

“Government Licenses” shall mean all licenses, permits, approvals, permissions, consents, waivers or registrations required or
issued by a government authority of China. 
 “Loan Agreement” shall have the meaning set forth in the Recitals.

 “Notice of Default” shall have the meaning set forth in Section 5.1. 

“Obligations” shall have the meaning set forth in Section 2.2. 

“Principal Agreements” shall have the meaning set forth in the Recitals and shall include the Loan Agreement, Exclusive
Purchase Option Agreement, Exclusive Business Cooperation Agreement and Power of Attorney as set forth on Schedule 1 hereto. 

“Pledge” shall have the meaning set forth in Section 2.1. 

“Pledged Interests” shall have the meaning set forth in Section 2.1. 

“RMB” shall mean Renminbi, the official currency of China. 

“Term” shall have the meaning as set forth in Section 3.1. 

1.2 Headings. The headings in this agreement are for convenience only and shall not affect the construction of the agreement.

 1.3 Interpretation. Unless otherwise provided, the words, expressions, and references below shall have the following
meanings: 
 (a) References to the clauses and schedules of this agreement include any amendments to them that may occur from
time to time. 
 (b) References to this agreement or any other agreement or document include any amendments, notations, or
supplements to the agreements or documents that may occur from time to time. 
  

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 (c) References to any statute or statutory provision include any amendments, extensions,
consolidations, or replacements pertaining to the statute or provision and any statute or provision that amends, extends, consolidates, or replaces the statute or provision, and shall also include any orders, regulations, instruments, or other
subordinate legislation made under the relevant statute or provision. 
 (d) Words denoting the singular include the plural and
vice versa; 
 (e) References to a “Person” include individuals, firms, partnerships, joint ventures,
companies, corporations, unincorporated bodies of persons, states, and any agencies of states and their assigns, transferees, or successors in title. 

(f) The words “including” and “in particular” simply illustrate or emphasize certain terms within a
provision and they shall not limit any provision in any way. 
 ARTICLE II. 

THE PLEDGED INTERESTS 

2.1 The Pledgor hereby pledges and grants a security interest in all of Pledgor’s right, title, and interest in, together with all
of his incidental rights with respect to, the equity of Rampage Shopping either presently owned or hereafter acquired by the Pledgor (collectively, the “Pledged Interests”) to the Beneficiary and its successors as collateral
security for the payment and performance by the Pledgor of any and all of the Obligations (the “Pledge”). 

2.2 This Agreement is made and the Pledge herein is given to secure the Pledgor’s payment of all obligations, liabilities and
indebtedness of the Pledgor to the Beneficiary pursuant to the terms of the Loan Agreement and the other Principal Agreements, including all sums due and payable to the Beneficiary by the Pledgor under the Loan Agreement and all service fees due to
the Beneficiary under each of the Principal Agreements (collectively, the “Obligations”). 
 ARTICLE III.

 TERM OF THE PLEDGE 

3.1 The pledge shall become effective on the date the Pledge is entered in Rampage Shopping’s shareholders’ register. The
pledge shall be continuously valid until the Obligations have been fully discharged (the “Term”). 
 3.2 The
Pledgor and Rampage Shopping shall enter the Pledge in Rampage Shopping’s shareholders’ register within three (3) business days after the execution of this Agreement. 

ARTICLE IV. 

PERFECTION OF THE PLEDGE 

4.1 The Pledgor hereby covenants to execute in good faith and to cause any other appropriate parties or individuals to execute all
certificates, agreements, deeds, covenants, or notices required by the Beneficiary to perfect or exercise any of the Beneficiary’s rights under this Agreement. 

 

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 4.2 Rampage Shopping shall, immediately upon the execution of this Agreement, execute and
deliver a capital contribution certificate in the form attached hereto as Schedule 2 (“Capital Contribution Certificate”) for the Pledged Interests and the shareholders’ register in the form attached hereto as
Schedule 3 (“Shareholders’ Register”) containing the Pledge. The Beneficiary shall maintain custody of such items during the Term of this Agreement. 

4.3 The Pledgor and the Beneficiary shall register the Pledge under this Agreement with a qualified Chinese Public Notary within three
(3) business days following the execution of this Agreement. 
 ARTICLE V. 

ENFORCEMENT OF PLEDGE 

5.1 Pledgor shall immediately notify the Beneficiary in writing upon their discovery of any Event of Default. The Beneficiary may deliver
a written notice of default (“Notice of Default”) to Pledgor upon the occurrence of the Event of Default or at anytime thereafter. The Notice of Default may demand that Pledgor immediately pay all outstanding payments due under the
Loan Agreement and the other Principal Agreements and all other payments due to the Beneficiary. 
 5.2 Upon delivery of the
Notice of Default under this Agreement, the Beneficiary or any of its agents shall become forthwith entitled to exercise, at its sole discretion and without further notice to the Pledgor, all or any of the following rights, remedies, and powers:

 (a) acquire all right, title, and interest to any of the Pledged Interests or beneficial interests according to the terms
and conditions of this Agreement and terminate all rights of the Pledgor pertaining to the Pledged Interests or beneficial interests; 

(b) exercise at its sole discretion all voting, corporate, and other rights pertaining to the Pledged Interests or beneficial interests
at any Rampage Shopping shareholders’ meeting or any other forum that impacts the Pledged Interests or beneficial interests inasmuch as all such rights of the Pledgor pertaining to the Pledged Interests or beneficial interests shall cease;

 (c) exercise at its sole discretion any and all rights of conversion, sale, exchange, subscription, or any other rights,
powers, privileges, or options pertaining to the Pledged Interests or beneficial interests inasmuch as all such rights of the Pledgor pertaining to the Pledged Interests or beneficial interests shall cease; 

(d) receive all amounts, including dividends, interest, or any other monies incurring to each Pledgor from the Pledged Interests or
beneficial interests inasmuch as all such rights of the Pledgor pertaining to the Pledged Interests or beneficial interests shall cease; 

(e) sell, grant purchase options, assign, deliver, transfer or otherwise dispose of all or any part of the Pledged Interests or
beneficial interests at any public or private sale, without advertising or giving notice of intention to sell or the time or place of any sale and without issuing a demand to any party for performance; 

 

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 (f) sell, grant purchase options, assign, deliver, transfer or otherwise dispose of all or
any part of the Pledged Interests or beneficial interests at any public or private sale for cash, credit terms, exchange for other property, or any other price or terms and conditions established by the Beneficiary at is sole and absolute discretion
for immediate or future delivery; 
 (g) exercise any of the powers conferred on the Pledgor by any statute, deed, contract, or
the articles of incorporation of Rampage Shopping inasmuch as all such powers of the Pledgor shall cease; 
 (h) perform all
other acts necessary or incidental and conducive to the exercise of any of the powers hereby conferred; 
 (i) exercise all
voting, consensual, and other powers of ownership pertaining to the Pledged Interests or beneficial interests, including all such powers in order to replace the directors of Rampage Shopping; and 

(j) perform all acts necessary to exercise, implement, and enforce the Pledge executed through this Agreement in accordance with
applicable laws. 
 5.3 Each of the foregoing rights and remedies is in addition to all rights and remedies available to the
Beneficiary under applicable laws, and they are enumerated under this Section as examples of the Beneficiary’s rights, remedies, and powers without limiting them in any way. 

5.4 Upon the request of the Beneficiary, the Pledgor and Rampage Shopping shall execute all documents and take any other actions
necessary to dispose the Pledged Interests or beneficial interests in accordance with the terms and conditions of this Agreement. 

ARTICLE VI. 

DIVIDENDS AND VOTING RIGHTS 

6.1 Declaration and Payment of Dividends. 

(a) Rampage Shopping shall not declare any dividend at any time without the Beneficiary’s prior written consent, unless and until
all sums due to the Beneficiary under the Loan Agreement and each of the other Principal Agreements have been unconditionally and irrevocably paid and all Obligations under the Principal Agreements have been fully discharged. 

(b) The Pledgor shall not cause Rampage Shopping to issue any other equity without the Beneficiary’s prior written consent, unless
and until all sums due to the Beneficiary under the Loan Agreement and each of the other Principal Agreements have been unconditionally and irrevocably paid and all Obligations under the Principal Agreements have been fully discharged. 

6.2 Voting Rights. 

(a) During the Term, the Pledgor shall not be entitled to receive or exercise any voting rights until all Obligations under the Loan
Agreement and each of the other Principal Agreements have been fully satisfied. 
  

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 (b) The Pledgor hereby grants the Beneficiary the power to vote in lieu of the Pledgor in
every shareholders’ meeting (regular or special) held by Rampage Shopping during the Term of this Agreement. The Pledgor hereby authorizes the Beneficiary to execute all the documents and take all the actions that are necessary to enable the
Beneficiary to exercise the Pledgor’s voting rights and all other rights as a shareholder of Rampage Shopping. The Pledgor shall provide the Beneficiary written notice of any shareholders’ meeting immediately upon their receipt of notice
of any shareholders’ meeting issued pursuant to the articles of association of Rampage Shopping. 
 ARTICLE VII. 

 REPRESENTATIONS AND WARRANTIES 

7.1 Acknowledgement of Reliance. The Pledgor hereby acknowledges that the Beneficiary has entered into this Agreement in full
reliance upon the representations and warranties made under this Section 7. 
 7.2 Representations and Warranties.
The Pledgor represents and warrants to the Beneficiary as follows: 
 (a) the Pledgor has the legal capacity to execute and
perform this Agreement. The Pledgor has obtained all necessary and proper approvals and authorizations for the execution and performance of this Agreement; 

(b) this Agreement constitutes the Pledgor’s legal, valid and binding obligations enforceable in accordance with its terms;

 (c) the Pledgor is not currently engaged in any disputes, litigation, arbitrations, administrative proceedings, or any other
legal proceeding; nor is the Pledgor subject to any potential disputes, litigation, arbitration, administrative proceedings, or any other legal proceeding; 

(d) the Pledgor has not pledged, assigned, or otherwise transferred to any third party any of his Pledged Interests except for the
pledge of the Pledged Interests to the Beneficiary under this Agreement and the exclusive purchase rights granted to the Beneficiary under the Exclusive Purchase Option Agreement; 

(e) the Pledgor is the sole legal, registered, and beneficial owner of the Pledged Interests; 

(f) the Pledgor has good and marketable title to the Pledged Interests subject to no lien or other security interest, other than the
pledge of the Pledged Interests to the Beneficiary under this Agreement and the exclusive purchase rights granted to the Beneficiary under the Exclusive Purchase Option Agreement; 

(g) the Pledged Interests in Rampage Shopping held by the Pledgor are fully-paid, and not in bearer form; and 

(h) the pledge, assignment and delivery of the Pledged Interests pursuant to this Agreement will create a valid first priority lien on
and a first priority perfected security interest in the Interests and the proceeds thereof, securing the payment of the obligations. 
  

 7 

 7.3 Repetition. The representations and warranties set out in Section 7.2 of
this Agreement shall continue after the execution of this Agreement, and shall be deemed to be true and effective throughout the Term of this Agreement. 

ARTICLE VIII. 

AFFIRMATIVE COVENANTS 

8.1 During the Term of this Agreement, the Pledgor irrevocably covenants to the following: 

(a) the Pledgor shall abide by the provisions of this Agreement and perform all obligations under the other Principal Agreements, and
refrain from any action or omission that may affect the viability or enforceability of this Agreement or any of the other Principal Agreements; 

(b) the Pledgor shall notify the Beneficiary immediately of any litigation, arbitration, or administrative proceedings concerning
Rampage Shopping or the Pledged Interest; 
 (c) the Pledgor shall execute all necessary or appropriate documents, file all
necessary or appropriate complaints, raise (or, at the request of the Beneficiary, authorize the Beneficiary or the Beneficiary’s designated Person) all necessary and appropriate defences against all claims, and take all other appropriate
actions necessary to maintain the Pledgor’s ownership of the equity interest in Rampage Shopping, except for the enforcement of this Agreement and the Exclusive Purchase Option Agreement; and 

(d) the Pledgor shall promptly notify the Beneficiary of any event that may impact the Beneficiary’s rights to any portion of the
Pledged Interests or any of Pledgor’s guarantees or obligations hereunder or under any of the other Principal Agreements. 

ARTICLE IX. 

NEGATIVE COVENANTS 

9.1 The Pledgor irrevocably covenants that he shall not: 

(a) sell, contract to sell, transfer, mortgage, or dispose, directly or indirectly, in any manner any of the Pledged Interests, or allow
any placement thereon as a security interest, except to the Beneficiary or the Beneficiary’s designated Person in accordance with this Agreement or the Exclusive Purchase Option Agreement; 

(b) cause the shareholders meeting or the board of directors of Rampage Shopping to approve the sale, transfer, mortgage or disposition
in any manner any of the Pledged Interests, or allow the placement thereon of any security interest, except to the Beneficiary or the Beneficiary’s designated Person in accordance with this Agreement or the Exclusive Purchase Option Agreement;
or 
 (c) cause Rampage Shopping to supplement, change, or amend its articles of association in any manner, increase or
decreases its registered capital, or change its share capital structure in any manner without the prior written consent of the Beneficiary. 
  

 8 

 9.2 The Pledgor agrees that the rights acquired by the Beneficiary in accordance with this
Agreement shall not be interrupted or harmed by the Pledgor or any of his heirs or representatives through any legal proceedings. 

ARTICLE X. 

NOTICES 

10.1 Each notice or other communication to be given under this Agreement shall be given in written English and Chinese, and shall be made
by telex, fax, or letter. Each notice, communication or other document to be delivered to any party to this Agreement shall be made or delivered to the party’s address or fax number as set out below: 

 

	 	(a)	To the Pledgor: 

 Address:
Column D 
 Tel: (86 21) 64950500 ext Column F 

Fax: (86 21) 6490508 

Attention: Column A 
  

	 	(b)	To the Beneficiary: 

 Address:
Room 2098, C, Building 3, No.8 
 Xiushan Road, Chongming County, 

(Chongming Industrial Zone) , Shanghai, 

China 
 Tel:
(86 21) 64950555 
 Fax: (86 21) 64950508 

Attention: Zhang Bang 
  

	 	(c)	To Rampage Shopping: 

 Address:
Room 2084, C, Building 7, No.2 
 Guanshan Road, Chenqiao Town, Chongming 

County, Shanghai, China 

Tel: (86 21) 64950555 

Fax: (86 21) 64950508 

Attention: Zhang Bang 
  

 9 

 ARTICLE XI. 

ASSIGNMENT OF AGREEMENT 

11.1 The Pledgor shall not assign or delegate its rights and obligations under this Agreement without the Beneficiary’s prior
written consent. 
 11.2 The Beneficiary may assign any or all of its rights and obligations under this Agreement, the Loan
Agreement, or any of the other Principal Agreements. Any such assign shall have all of the Beneficiary’s rights and obligations under this Agreement as if it were the original party to this Agreement. If the Beneficiary assigns its rights and
obligations under this Agreement, the Loan Agreement, or any of the other Principal Agreements, the Pledgor shall execute promptly all agreements or other documents necessary to perfect such assignment upon the Beneficiary’s request.

 11.3 This Agreement shall be binding upon the Pledgor and his successors and any assigns permitted by the Beneficiary, and it
shall be enforceable by the Beneficiary and each of its successors and assigns. 
 11.4 In the event that the Beneficiary is
restructured for any reason, the Pledgor shall execute a new pledge agreement with the newly restructured the Beneficiary on the same terms and conditions as this Agreement at the request of the Beneficiary. 

ARTICLE XII. 

CONFIDENTIALITY 

12.1 Each Party hereto agrees to treat information relating to the existence and all material aspects of the transactions contemplated
hereby and/or contained herein that is provided to such party by another party or its representatives, as confidential information and agrees not to disclose such information to any Person without the prior written consent of the disclosing Party,
except that each Party may disclose such confidential information (i) to its attorneys, accountants, advisors and consultants, provided such persons are subject to confidentiality obligations, (ii) on a need-to-know basis, to its
affiliates, and their employees, officers and directors provided such persons are subject to confidentiality obligations, (iii) any applicable government authority as required by applicable laws or as appropriate to ensure that all Government
Licenses of Rampage Shopping continue in effect and are not in danger of being suspended, terminated or not renewed, and (iv) as otherwise required by applicable laws. Prior to any disclosure under (iii) or (iv) above, the disclosing
Party shall have notified the other Parties of the disclosing Party’s intention to make such disclosure and the contents thereof. 

12.2 This Section 12 shall survive for a period of two years following the termination of this Agreement. 

ARTICLE XIII. 

GOVERNING LAW AND SETTLEMENT OF DISPUTES 

13.1 Governing Law. This Agreement, including the validity hereof and the rights and obligations of the Parties hereunder, shall
be construed in accordance with and governed by the laws of China. 
  

 10 

 13.2 Settlement of Disputes. In the event that a dispute arises in connection with
this Agreement, and the Parties cannot resolve the dispute through good faith discussions, either Party shall submit the dispute to arbitration before the Shanghai branch of China International Economic and Trade Arbitration Commission
(“CIETAC”) according to the rules of arbitration as administered by the CIETAC at the time. There shall be a single arbitrator. If the Parties do not agree to appoint an arbitrator who has consented to participate within twenty
(20) days after the issuance of a notice of arbitration by any Party hereto, CIETAC shall appoint an arbitrator. Arbitration proceedings shall be in English and shall take place in Shanghai, China. The arbitration decision shall be final and
binding upon the Parties. 
 ARTICLE XIV. 

AMENDMENTS AND WAIVER 

14.1 Amendments. This Agreement may not be amended or modified except in writing by the Beneficiary. 

14.2 No Implied Waivers. The Beneficiary may exercise its rights under this Agreement as often as necessary to protect its
interests, and such rights are in addition to any rights applicable to the Beneficiary under law. Any rights of the Beneficiary shall only be waived in writing by the Beneficiary, and any delay by the Beneficiary in the exercise of any of its right
shall not constitute a waiver of such right. 
 ARTICLE XV. 

MISCELLANEOUS 

15.1 Further Assurance. The Pledgor agree to execute and deliver such further documents and do such other acts and things as the
Beneficiary may reasonably request in order to fulfil the obligations of the Pledgor under this Agreement and protect the Beneficiary’s interests. 

15.2 Entire Agreement. This Agreement and the other Principal Agreements constitute the entire Agreement between the Parties
hereto in relation to the Pledge and supersede all previous proposals, agreements, or other written or oral communications. All Schedules referred to herein are incorporated in this Agreement by reference and constitute an integral part of this
Agreement. 
 15.3 Termination. This Agreement shall become effective on the date it is executed. This Agreement may be
terminated by the Beneficiary at its sole discretion. 
 15.4 Severability and Replacement. In the event that one or
several of the provisions of this Agreement are found to be invalid, illegal or unenforceable in any aspect in accordance with any laws or regulations, the validity, legality or enforceability of the remaining provisions of this Agreement shall not
be affected or compromised in any respect. The Parties shall strive in good faith to replace such invalid, illegal or unenforceable provisions with effective provisions that accomplish to the greatest extent permitted by law the intentions of the
Parties, and the economic effect of such effective provisions shall be as close as possible to the economic effect of those invalid, illegal or unenforceable provisions. 

15.5 Languages. This Agreement shall be written in English and Chinese. Each Party shall have one equally valid copy of the
Agreement in each language. Both languages shall be equally effective. In case of any discrepancies between the two languages, the English version shall prevail. 

 

 11 

 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

 

 12 

 IN WITNESS whereof the parties hereto have caused this Agreement to be duly executed by
their authorized representatives on the date first written above. 
  

			
	Pledgor: Column A
		
	By:	 	         /s/ Column A

	
	Name: Column A

 Beneficiary:
RAMPAGE TRADING (SHANGHAI) CO., LTD. 
 [seal: Rampage Trading (Shanghai) Co., Ltd.] 

Rampage Shopping: Shanghai Rampage Shopping Co., Ltd. 

[seal: Shanghai Rampage Shopping Co., Ltd.] 
  

 13 

 Schedule 1 

Principal Agreements 
  

					
	 Agreements
	 	 Parties
	 	 Date

	 Loan Agreement
	 	Pledgor and the Beneficiary	 	
			
	 Exclusive Purchase Option Agreement
	 	Pledgor and the Beneficiary	 	
			
	 Exclusive Business Cooperation Agreement
	 	Rampage Shopping and the Beneficiary	 	
			
	 Power of Attorney
	 	Pledgor and the Beneficiary	 	

  

 14 

 Schedule 2 

Rampage Shopping Capital Contribution Certificate 

It is hereby certified that Column A (ID Card No.: Column C) holds Column E of the equity interest of SHANGHAI
RAMPAGE SHOPPING CO., LTD., and such Column E equity interest has been pledged to RAMPAGE TRADING (SHANGHAI) CO., LTD. 
 SHANGHAI
RAMPAGE SHOPPING CO., LTD. 
 [seal: Shanghai Rampage Shopping Co., Ltd.] 

 

 15 

 Schedule 3 

Rampage Shopping Shareholders’ Register 

Column A (ID Card No.: Column C) holds Column E of the equity interest of SHANGHAI RAMPAGE SHOPPING CO., LTD.,
and all of such Column E equity interest has been pledged to RAMPAGE TRADING (SHANGHAI) CO., LTD. 
 SHANGHAI RAMPAGE SHOPPING
CO., LTD. 
 [seal: Shanghai Rampage Shopping Co., Ltd.] 

 

 16 

													
	 	  	 Column A
	  	 Column B
	  	 Column C
	  	 Column D
	  	Column E	  	Column F
							
	1	  	Xu Yi	  	May 18, 2010	  	320504197508022518	  	Room 701, No.2, Lane 925, South Zhong Shan Road
(2nd), Shanghai, China	  	25%	  	8335
							
	2	  	Zhang Bang	  	May 18, 2010	  	320502196804142031	  	Room 1408, No.29, Shui Yin Road, Yue Xiu District, Guangzhou, China	  	50%	  	8330
							
	3	  	Liu Guisheng	  	Sep 17, 2010	  	330328197802163479	  	Room 601, No.6, Lane 157, Zhenhua Road, Shanghai, China	  	25%	  	8163

  

 17

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