Document:

SHARE EXCHANGE AGREEMENT

	  
	
by and among

	  
	
RICH MOUNTAIN ENTERPRISES LIMITED

	  
	
THE SHAREHOLDER OF

	
Rich Mountain Enterprises Limited

	  
	
RISE KING MANAGEMENT LIMITED

	  
	
And

	  
	
THE SHAREHOLDERS OF

	
RISE KING MANAGEMENT LIMITED

	  
	
Dated as of July 30, 2011

	  

  

  

  

 

TABLE OF CONTENTS

 

	  	  	
Page

	  	  	  
	
ARTICLE I  Exchange of Shares

	
1

	
1.1

	
Share Exchange

	
1

	
1.2

	
Closing

	
1

	  	  	  
	
ARTICLE II  Representations and Warranties of the RISE KING Shareholders

	
2

	
2.1

	
Good Title

	
2

	
2.2

	
Organization

	
2

	
2.3

	
Power and Authority

	
2

	
2.4

	
No Conflicts

	
2

	
2.5

	
Litigation

	
2

	
2.6

	
No Finder’s Fee

	
2

	
2.7

	
Purchase Entirely for Own Account

	
2

	
2.8

	
Available Information

	
2

	
2.9

	
Non-Registration

	
3

	
2.10

	
Restricted Securities

	
3

	
2.11

	
Accredited Investor

	
3

	
2.12

	
Additional Legend

	
3

	
2.13

	
Disclosure

	
3

	  	  	  
	
ARTICLE III  Representations and Warranties of RISE KING

	
3

	
3.1

	
Organization, Standing and Power

	
3

	
3.2

	
Subsidiaries; Equity Interests.

	
3

	
3.3

	
Capital Structure

	
4

	
3.4

	
Authority; Execution and Delivery; Enforceability

	
4

	
3.5

	
No Conflicts; Consents.

	
4

	
3.6

	
Taxes.

	
5

	
3.7

	
Benefit Plans.

	
5

	
3.8

	
Litigation

	
5

	
3.9

	
Compliance with Applicable Laws

	
5

	
3.10

	
Contracts

	
5

	
3.11

	
Title to Properties

	
6

	
3.12

	
Intellectual Property

	
6

	
3.13

	
Labor Matters

	
6

	
3.14

	
Financial Statements; Liabilities

	
6

	
3.15

	
Investment Company

	
6

	
3.16

	
Foreign Corrupt Practices

	
6

	
3.17

	
Absence of Certain Changes or Events

	
6

	
3.18

	
Disclosure

	
7

	  	  	  
	
ARTICLE IV  Representations and Warranties of Shell Company

	
7

	
4.1

	
Organization, Standing and Power

	
7

	
4.2

	
Subsidiaries; Equity Interests

	
8

	
4.3

	
Capital Structure

	
8

	
4.4

	
Authority; Execution and Delivery; Enforceability

	
8

	
4.5

	
No Conflicts; Consents.

	
8

	
4.6

	
Taxes.

	
9

	
4.7

	
Benefit Plans

	
9

	
4.8

	
Benefit Plans

	
9

	
4.9

	
Litigation

	
9

	
4.10

	
Compliance with Applicable Laws

	
9

	
4.11

	
Contracts

	
10

	
4.12

	
Title to Properties

	
10

  

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4.13

	
Intellectual Property

	
10

	
4.14

	
Labor Matters

	
10

	
4.15

	
SEC Documents; Undisclosed Liabilities.

	
10

	
4.16

	
Transactions With Affiliates and Employees

	
11

	
4.17

	
Investment Company

	
11

	
4.18

	
Foreign Corrupt Practices

	
11

	
4.19

	
Absence of Certain Changes or Events

	
11

	
4.20

	
Certain Registration Matters

	
12

	
4.21

	
Disclosure

	
12

	
4.22

	
No Undisclosed Events, Liabilities, Developments or Circumstances

	
12

	
4.23

	
No Additional Agreements

	
12

	  	  	  
	
ARTICLE V  Representations and Warranties of the Shell Company Shareholder

	
12

	
5.1

	
Good Title

	
12

	
5.2

	
Power and Authority

	
13

	
5.3

	
No Conflicts

	
13

	
5.4

	
Litigation

	
13

	
5.5

	
No Finder’s Fee

	
13

	
5.6

	
Disclosure

	
13

	  	  	  
	
ARTICLE VI  Conditions to Closing

	
13

	
6.1

	
Shell Company Conditions Precedent

	
13

	
6.2

	
RISE KING Conditions Precedent

	
14

	  	  	  
	
ARTICLE VII  Covenants

	
16

	
7.1

	
Amended Charter

	
16

	
7.2

	
Public Announcements

	
16

	
7.3

	
Fees and Expenses

	
16

	
7.4

	
Continued Efforts

	
16

	
7.5

	
Exclusivity

	
16

	
7.6

	
Filing of 20-F

	
16

	
7.7

	
Furnishing of Information

	
16

	
7.8

	
Access

	
16

	
7.9

	
Preservation of Business

	
16

	  	  	  
	
ARTICLE VIII  Miscellaneous

	
17

	
8.1

	
Notices

	
17

	
8.2

	
Amendments; Waivers

	
17

	
8.3

	
Replacement of Securities

	
18

	
8.4

	
Remedies

	
18

	
8.5

	
Limitation of Liability

	
18

	
8.6

	
Interpretation

	
18

	
8.7

	
Severability

	
18

	
8.8

	
Counterparts; Facsimile Execution

	
18

	
8.9

	
Entire Agreement; Third Party Beneficiaries

	
18

	
8.10

	
Survival

	
18

	
8.11

	
Governing Law

	
18

	
8.12

	
Assignment

	
19

	  	  	  
	
SCHEDULE A

	
22

	
ANNEX A Definitions

	
23

  

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SHARE EXCHANGE AGREEMENT

 

This SHARE EXCHANGE AGREEMENT (this “Agreement”), dated as of July 30, 2011, is by and among RICH MOUNTAIN ENTERPRISES LIMITED, a British Virgin Islands company (the “Shell Company”), the shareholder of the Shell Company set forth on Schedule A hereto (the “Shell Company Shareholder”), RISE KING MANAGEMENT LIMITED, a British Virgin Islands company (“RISE KING”), and the shareholders of RISE KING set forth on Schedule A hereto (the “RISE KING Shareholders”). Each of the parties to this Agreement is individually referred to herein as a “Party” and collectively, as the “Parties.” Capitalized terms used herein that are not otherwise defined herein shall have the meanings ascribed to them in Annex A hereto.

 

BACKGROUND

 

A.           Shell Company is a company incorporated with limited liability under the laws of the British Virgin Islands with no significant operations.

 

B.           RISE KING is a company incorporated with limited liability under the laws of the British Virgin Islands.

 

C.           RISE KING has 50,000 ordinary shares (the “RISE KING Stock”) issued and outstanding, all of which are held by the RISE KING Shareholders according to the allocation set forth on Schedule A hereto.  Each of the RISE KING Shareholders has agreed to transfer each of its shares of RISE KING Stock in exchange for 140 newly issued ordinary shares of Shell Company (the “Shell Company Stock”).

 

D.           The Shell Company Shareholder has agreed to transfer all of the capital stock of the Shell Company issued and outstanding on the Closing Date in exchange for an aggregate of $200,000 (which is equal to $0.04 per share following the effectiveness of the Amended Charter (defined below)) in cash.

 

E.           The Shell Company Stock to be issued and transferred to the RISE KING Shareholders pursuant to this Agreement constitutes all of the issued and outstanding capital stock of the Shell Company as of and immediately after the Closing (as defined in Section 1.2 below).

 

F.           The Board of Directors of each of the Shell Company and RISE KING has determined that it is desirable to effect this plan of reorganization and share exchange.

 

AGREEMENT

 

NOW, THEREFORE, in consideration of the foregoing and the respective representations, warranties, covenants and agreements set forth herein, and intending to be legally bound hereby, the Parties agree as follows:

 

ARTICLE I

Exchange of Shares

 

1.1           Share Exchange.  At the Closing, (i) each of the RISE KING Shareholders shall sell, transfer, convey, assign and deliver to the Shell Company each share of its RISE KING Stock free and clear of all Liens, in exchange for 140 newly issued ordinary shares of Shell Company Stock (referred to herein as the “Shares”), according to the allocation set forth on Schedule B hereto and (ii) the Shell Company Shareholder shall sell, transfer, convey, assign and deliver to the RISE KING Shareholders all of the capital stock of the Shell Company issued and outstanding on the Closing Date free and clear of all Liens in exchange for an aggregate of $200,000 (which is equal to $0.04 per share following the effectiveness of the Amended Charter (defined below)) in cash, according to the allocation set forth on Schedule B hereto.

  

  

  

1.2           Closing.  The closing (the “Closing”) of the transactions contemplated hereby (the “Transactions”) shall take place at the offices of Kramer Levin Naftalis & Frankel LLP, 1177 Avenue of the Americas, New York, New York 10036, commencing at 9:00 a.m. local time on the second business day following the satisfaction or waiver of all conditions to the obligations of the Parties to consummate the Transactions (other than conditions with respect to actions that the respective parties will take at Closing) or such other date and time as the Parties may mutually determine (the “Closing Date”).  Subsequent to the Closing, the RISE KING Shareholders shall bear responsibility for registering the Transactions with the Shell Company’s registered agent in the British Virgin Islands.

 

ARTICLE II

Representations and Warranties of the RISE KING Shareholders

 

Each of the RISE KING Shareholders severally (and not jointly) hereby represents and warrants to Shell Company and Shell Company Shareholder as follows.

 

2.1           Good Title.  The RISE KING Shareholder is the record and beneficial owner, and has good title to its RISE KING Stock, with the right and authority to sell and deliver such RISE KING Stock, free and clear of all Liens, claims, charges, encumbrances, pledges, mortgages, security interests, options, rights to acquire, proxies, voting trusts or similar agreements, restrictions on transfer or adverse claims of any nature whatsoever. Upon delivery of any certificate or certificates duly assigned, representing the same as herein contemplated and/or upon registering of Shell Company as the new owner of such RISE KING Stock in the share register of RISE KING, Shell Company will receive good title to such RISE KING Stock, free and clear of all Liens.

 

2.2           Organization.  The RISE KING Shareholder is duly organized and validly existing in its jurisdiction of organization.

 

2.3           Power and Authority.  The RISE KING Shareholder has the legal power and authority to execute and deliver this Agreement and to perform its obligations hereunder. All acts required to be taken by the RISE KING Shareholder to enter into this Agreement and to carry out the Transactions have been properly taken. This Agreement constitutes a legal, valid and binding obligation of the RISE KING Shareholder, enforceable against the RISE KING Shareholders in accordance with the terms hereof.

 

2.4           No Conflicts.  The execution and delivery of this Agreement by the RISE KING Shareholder and the performance by the RISE KING Shareholder of its obligations hereunder in accordance with the terms hereof: (a) will not require the consent of any third party or Governmental Entity under any Laws; (b) will not violate any Laws applicable to the RISE KING Shareholder; and (c) will not violate or breach any contractual obligation to which the RISE KING Shareholder is a party.

 

2.5           Litigation.  There is no pending proceeding against the RISE KING Shareholder that involves the Shares or that challenges, or may have the effect of preventing, delaying or making illegal, or otherwise interfering with, any of the Transactions and, to the knowledge of the RISE KING Shareholder, no such proceeding has been threatened, and no event or circumstance exists that is reasonably likely to give rise to or serve as a basis for the commencement of any such proceeding.

 

2.6           No Finder’s Fee.  The RISE KING Shareholder has not created any obligation for any finder’s, investment banker’s or broker’s fee in connection with the Transactions that are not payable entirely by the RISE KING Shareholder.

 

2.7           Purchase Entirely for Own Account.  The RISE KING Shareholder is acquiring the Shell Company Stock proposed to be acquired hereunder for investment for its own account and not with a view to the resale or distribution of any part thereof, and the RISE KING Shareholder has no present intention of selling or otherwise distributing the Shell Company Stock, except in compliance with applicable securities laws.

 

2.8           Available Information.  The RISE KING Shareholder has such knowledge and experience in financial and business matters that it is capable of evaluating the merits and risks of investment in Shell Company and has had full access to all the information it considers necessary or appropriate to make an informed investment decision with respect to the Shell Company Stock.

  

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2.9           Non-Registration.  The RISE KING Shareholder understands that the Shell Company Stock has not been registered under the Securities Act and, if issued in accordance with the provisions of this Agreement, will be issued by reason of a specific exemption from the registration provisions of the Securities Act which depends upon, among other things, the bona fide nature of the investment intent and the accuracy of the RISE KING Shareholder’s  representations as expressed herein. The non-registration shall have no prejudice with respect to any rights, interests, benefits and entitlements attached to the Shell Company Stock in accordance with the Shell Company Constituent Instruments or the laws of its jurisdiction of incorporation.

 

2.10         Restricted Securities.  The RISE KING Shareholder understands that the Shares are characterized as “restricted securities” under the Securities Act inasmuch as this Agreement contemplates that, if acquired by the RISE KING Shareholder pursuant hereto, the Shares would be acquired in a transaction not involving a public offering. The issuance of the Shares hereunder is being effected in reliance upon an exemption from registration afforded under Section 4(2) of the Securities Act for transactions by an issuer not involving a public offering. The RISE KING Shareholder further acknowledges that if the Shares are issued to the RISE KING Shareholder in accordance with the provisions of this Agreement, such Shares may not be resold without registration under the Securities Act or the existence of an exemption therefrom. The RISE KING Shareholder represents that it is familiar with Rule 144 promulgated under the Securities Act, as presently in effect, and understands the resale limitations imposed thereby and by the Securities Act.

 

2.11         Accredited Investor.  The RISE KING Shareholder is an “accredited investor” within the meaning of Rule 501 under the Securities Act and the RISE KING Shareholder was not organized for the specific purpose of acquiring the Shares.

 

2.12         Additional Legend.  The RISE KING Shareholder consents to Shell Company making a notation on its records or giving instructions to any transfer agent of Shares in order to implement the restrictions on transfer of the Shares.

 

2.13         Disclosure.  This Agreement, the schedules hereto and any certificate attached hereto or delivered in accordance with the terms hereof by or on behalf of the RISE KING Shareholder in connection with the Transactions, when taken together, do not contain any untrue statement of a material fact or omit any material fact necessary in order to make the statements contained herein and/or therein not misleading.

 

ARTICLE III

Representations and Warranties of RISE KING

 

Subject to the exceptions set forth in the RISE KING Disclosure Letter (regardless of whether or not the RISE KING Disclosure Letter is referenced below with respect to any particular representation or warranty), RISE KING represents and warrants to Shell Company, the Shell Company Shareholder and the RISE KING Shareholders as follows.

 

3.1           Organization, Standing and Power.  RISE KING and each of its subsidiaries is duly organized, validly existing and in good standing under the laws of the jurisdiction in which it is organized and has the corporate power and authority and possesses all governmental franchises, licenses, permits, authorizations and approvals necessary to enable it to own, lease or otherwise hold its properties and assets and to conduct its businesses as presently conducted, other than such franchises, licenses, permits, authorizations and approvals the lack of which, individually or in the aggregate, has not had and would not reasonably be expected to have a material adverse effect on RISE KING and its subsidiaries taken as a whole, a material adverse effect on the ability of RISE KING to perform its obligations under this Agreement or on the ability of RISE KING to consummate the Transactions (a “RISE KING Material Adverse Effect”). RISE KING and each of its subsidiaries is duly qualified to do business in each jurisdiction where the nature of its business or its ownership or leasing of its properties make such qualification necessary except where the failure to so qualify would not reasonably be expected to have a RISE KING Material Adverse Effect. RISE KING has delivered to Shell Company true and complete copies of the RISE KING Constituent Instruments, and the comparable charter, organizational documents and other constituent instruments of each of its subsidiaries, in each case as amended through the date of this Agreement.

  

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3.2          Subsidiaries; Equity Interests.

 

(a)           The RISE KING Disclosure Letter lists each subsidiary of RISE KING and its jurisdiction of organization. All the outstanding shares of capital stock or equity investments of each subsidiary have been validly issued and are fully paid and nonassessable and are as of the date of this Agreement owned by RISE KING or by another subsidiary of RISE KING, free and clear of all Liens.

 

(b)           Except for its interests in its subsidiaries, RISE KING does not, as of the date of this Agreement, own, directly or indirectly, any capital stock, membership interest, partnership interest, joint venture interest or other equity interest in any person.

 

3.3          Capital Structure.  The authorized capital stock of RISE KING consists of 50,000 ordinary shares, all of which are issued and outstanding. Except as set forth above, no shares of capital stock or other voting securities of RISE KING are issued, reserved for issuance or outstanding.  Except as disclosed in the RISE KING Disclosure Letter, RISE KING is the sole record and beneficial owner of all of the issued and outstanding capital stock of each of its subsidiaries. All outstanding shares of the capital stock of RISE KING and each of its subsidiaries are duly authorized, validly issued, fully paid and nonassessable and not subject to or issued in violation of any purchase option, call option, right of first refusal, preemptive right, subscription right or any similar right under any provision of the applicable corporate laws of the jurisdiction in which such entity was organized, the organizational documents of any such entity or any Contract to which RISE KING is a party or otherwise bound. There are not any bonds, debentures, notes or other indebtedness of RISE KING or any of its subsidiaries having the right to vote (or convertible into, or exchangeable for, securities having the right to vote) on any matters on which holders of RISE KING Stock or the capital stock of any of its subsidiaries may vote (“Voting RISE KING Debt”). As of the date of this Agreement, there are not any options, warrants, rights, convertible or exchangeable securities, “phantom” stock rights, stock appreciation rights, stock-based performance units, commitments, Contracts, arrangements or undertakings of any kind to which RISE KING or any of its subsidiaries is a party or by which any of them is bound (a) obligating RISE KING or any of its subsidiaries to issue, deliver or sell, or cause to be issued, delivered or sold, additional shares of capital stock or other equity interests in, or any security convertible or exercisable for or exchangeable into any capital stock of or other equity interest in, RISE KING or any of its subsidiaries or any Voting RISE KING Debt, (b) obligating RISE KING or any of its subsidiaries to issue, grant, extend or enter into any such option, warrant, call, right, security, commitment, Contract, arrangement or undertaking or (c) that give any person the right to receive any economic benefit or right similar to or derived from the economic benefits and rights occurring to holders of the capital stock of RISE KING or of any of its subsidiaries. As of the date of this Agreement, there are not any outstanding contractual obligations of RISE KING to repurchase, redeem or otherwise acquire any shares of capital stock of RISE KING.

 

3.4          Authority; Execution and Delivery; Enforceability.  RISE KING has all requisite corporate power and authority to execute and deliver this Agreement and to consummate the Transactions. The execution and delivery by RISE KING of this Agreement and the consummation by RISE KING of the Transactions have been duly authorized and approved by the Board of Directors of RISE KING and no other corporate proceedings on the part of RISE KING are necessary to authorize this Agreement and the Transactions. When executed and delivered, this Agreement will be enforceable against RISE KING in accordance with its terms.

 

3.5          No Conflicts; Consents.

 

(a)           The execution and delivery by RISE KING of this Agreement does not, and the consummation of the Transactions and compliance with the terms hereof will not, conflict with, or result in any violation of or default (with or without notice or lapse of time, or both) under, or give rise to a right of termination, cancellation or acceleration of any obligation or to loss of a material benefit under, or result in the creation of any Lien upon any of the properties or assets of RISE KING or any of its subsidiaries under, any provision of (i) the RISE KING Constituent Instruments or the comparable charter or organizational documents of any of its subsidiaries, (ii) any Contract to which RISE KING or any of its subsidiaries is a party or to which any of their respective properties or assets is subject or (iii) subject to the filings and other matters referred to in Section 3.5(b), any material judgment, order or decree or material Law applicable to RISE KING or any of its subsidiaries or their respective properties or assets, other than, in the case of clauses (ii) and (iii) above, any such items that, individually or in the aggregate, have not had and would not reasonably be expected to have a RISE KING Material Adverse Effect.

  

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(b)           Except for required filings with the SEC, and filings in the British Virgin Islands in connection with the Amended Charter (defined below), no Consent of, or registration, declaration or filing with, or permit from, any Governmental Entity is required to be obtained or made by or with respect to RISE KING or any of its subsidiaries in connection with the execution, delivery and performance of this Agreement or the consummation of the Transactions.

 

3.6          Taxes.

 

(a)           RISE KING and each of its subsidiaries has timely filed, or has caused to be timely filed on its behalf, all Tax Returns required to be filed by it, and all such Tax Returns are true, complete and accurate, except to the extent any failure to file or any inaccuracies in any filed Tax Returns, individually or in the aggregate, have not had and would not reasonably be expected to have a RISE KING Material Adverse Effect. All Taxes shown to be due on such Tax Returns, or otherwise owed, have been timely paid, except to the extent that any failure to pay, individually or in the aggregate, has not had and would not reasonably be expected to have a RISE KING Material Adverse Effect. There are no unpaid taxes in any material amount claimed to be due by the taxing authority of any jurisdiction, and the officers of RISE KING know of no basis for any such claim.

 

(b)           The RISE KING Financial Statements reflect an adequate reserve for all Taxes payable by RISE KING and its subsidiaries (in addition to any reserve for deferred Taxes to reflect timing differences between book and Tax items) for all taxable periods and portions thereof through the date of such financial statements. No deficiency with respect to any Taxes has been proposed, asserted or assessed against RISE KING or any of its subsidiaries, and no requests for waivers of the time to assess any such Taxes are pending, except to the extent any such deficiency or request for waiver, individually or in the aggregate, has not had and would not reasonably be expected to have a RISE KING Material Adverse Effect.

 

3.7          Benefit Plans.

 

(a)           Neither RISE KING nor any of its subsidiaries maintains any collective bargaining agreement or any bonus, pension, profit sharing, deferred compensation, incentive compensation, stock ownership, stock purchase, stock option, phantom stock, retirement, vacation, severance, disability, death benefit, hospitalization, medical or other plan, arrangement or understanding (whether or not legally binding) providing benefits to any current or former employee, officer or director of RISE KING or any of its subsidiaries. As of the date of this Agreement there are not any severance or termination agreements or arrangements between RISE KING or any of its subsidiaries and any current or former employee, officer or director of RISE KING or any of its subsidiaries, nor does RISE KING or any of its subsidiaries have any general severance plan or policy.

 

3.8          Litigation.  There is no Action against or affecting RISE KING or any of its subsidiaries or any of their respective properties which (a) adversely affects or challenges the legality, validity or enforceability of any of this Agreement or the Shares or (b) could, if there were an unfavorable decision, individually or in the aggregate, have or reasonably be expected to result in a RISE KING Material Adverse Effect. Neither RISE KING nor any of its subsidiaries, nor any director or officer thereof (in his or her capacity as such), is or has been the subject of any Action involving a claim or violation of or liability under federal or state securities laws or a claim of breach of fiduciary duty.

 

3.9          Compliance with Applicable Laws.  Except as set forth in the RISE KING Disclosure Letter, RISE KING and each of its subsidiaries have conducted their business and operations in compliance with all applicable Laws, including those relating to occupational health and safety and the environment, except for instances of noncompliance that, individually and in the aggregate, have not had and would not reasonably be expected to have a RISE KING Material Adverse Effect. RISE KING has not received any written communication during the past two years from a Governmental Entity that alleges that RISE KING is not in compliance in any material respect with any applicable Law. This Section 3.9 does not relate to matters with respect to Taxes, which are the subject of Section 3.6.

 

3.10          Contracts.  Neither RISE KING nor any of its subsidiaries is in violation of or in default under (nor does there exist any condition which upon the passage of time or the giving of notice would cause such a violation of or default under) any Contract to which it is a party or to which it or any of its properties or assets is subject, except for violations or defaults that would not, individually or in the aggregate, reasonably be expected to result in a RISE KING Material Adverse Effect.

  

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3.11        Title to Properties.  RISE KING and each of its subsidiaries has sufficient title to, or valid leasehold interests in, all of its properties and assets used in the conduct of its businesses. All such assets and properties, other than assets and properties in which RISE KING or any of its subsidiaries has leasehold interests, are free and clear of all Liens and except for Liens that, in the aggregate, do not and will not materially interfere with the ability of RISE KING and its subsidiaries to conduct business as currently conducted.

 

3.12        Intellectual Property.  RISE KING and each of its subsidiaries own, or are validly licensed or otherwise have the right to use, all Intellectual Property Rights which are material to the conduct of the business of RISE KING and its subsidiaries taken as a whole. There are no claims pending or, to the knowledge of RISE KING, threatened that RISE KING or any of its subsidiaries is infringing or otherwise adversely affecting the rights of any person with regard to any Intellectual Property Right. To the knowledge of RISE KING, no person is infringing the rights of RISE KING or any of its subsidiaries with respect to any Intellectual Property Right.

 

3.13        Labor Matters.  There are no collective bargaining or other labor union agreements to which RISE KING or any of its subsidiaries is a party or by which any of them is bound. No material labor dispute exists or, to the knowledge of RISE KING, is imminent with respect to any of the employees of RISE KING.

 

3.14        Financial Statements; Liabilities.  RISE KING has delivered to Shell Company its audited consolidated financial statements for the fiscal years ended April 30, 2010 and 2009 (the “RISE KING Financial Statements”). The RISE KING Financial Statements have been prepared in accordance with generally accepted accounting principles applied on a consistent basis throughout the periods indicated. The RISE KING Financial Statements fairly present in all material respects the financial condition and operating results of RISE KING, as of the dates, and for the periods, indicated therein. RISE KING does not have any material liabilities or obligations, contingent or otherwise, other than (a) liabilities incurred in the ordinary course of business subsequent to April 30, 2010, and (b) obligations under contracts and commitments incurred in the ordinary course of business and not required under generally accepted accounting principles to be reflected in the RISE KING Financial Statements, which, in both cases, individually and in the aggregate, would not be reasonably expected to result in a RISE KING Material Adverse Effect.

 

3.15        Investment Company.  RISE KING is not, and is not an affiliate of, and immediately following the Closing will not have become, an “investment company” within the meaning of the Investment Company Act of 1940, as amended.

 

3.16        Foreign Corrupt Practices.  Neither RISE KING, nor any of its subsidiaries, nor, to RISE KING’s knowledge, any director, officer, agent, employee or other person acting on behalf of RISE KING or any of its subsidiaries has, in the course of its actions for, or on behalf of, RISE KING (a) used any corporate funds for any unlawful contribution, gift, entertainment or other unlawful expenses relating to political activity; (b) made any direct or indirect unlawful payment to any foreign or domestic government official or employee from corporate funds; or (c) made any unlawful bribe, rebate, payoff, influence payment, kickback or other unlawful payment to any foreign or domestic government official or employee.

 

3.17        Absence of Certain Changes or Events.  Except as disclosed in the RISE KING Financial Statements, from April 30, 2010 to the date of this Agreement, RISE KING has conducted its business only in the ordinary course, and during such period there has not been:

 

(a)           any change in the assets, liabilities, financial condition or operating results of RISE KING or any of its subsidiaries, except changes in the ordinary course of business that have not caused, in the aggregate, a RISE KING Material Adverse Effect;

 

(b)           any damage, destruction or loss, whether or not covered by insurance, that would have a RISE KING Material Adverse Effect;

  

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(c)           any waiver or compromise by RISE KING or any of its subsidiaries of a valuable right or of a material debt owed to it;

 

(d)           any satisfaction or discharge of any lien, claim, or encumbrance or payment of any obligation by RISE KING or any of its subsidiaries, except in the ordinary course of business and the satisfaction or discharge of which would not have a RISE KING Material Adverse Effect;

 

(e)           any material change to a material Contract by which RISE KING or any of its subsidiaries or any of its respective assets is bound or subject;

 

(f)           any mortgage, pledge, transfer of a security interest in, or lien, created by RISE KING or any of its subsidiaries, with respect to any of its material properties or assets, except liens for taxes not yet due or payable and liens that arise in the ordinary course of business and do not materially impair RISE KING’s or its subsidiaries’ ownership or use of such property or assets;

 

(g)           any loans or guarantees made by RISE KING or any of its subsidiaries to or for the benefit of its employees, officers or directors, or any members of their immediate families, or any loans or advances to any persons, corporations, business trusts, associations, companies, partnerships, limited liability companies, joint ventures and other entities, governments, agencies and political subdivision other than travel advances and other advances made in the ordinary course of its business;

 

(h)           any alteration of RISE KING’s method of accounting or the identity of its auditors;

 

(i)            any declaration or payment of dividend or distribution of cash or other property to the RISE KING Shareholders or any purchase, redemption or agreements to purchase or redeem any RISE KING Stock;

 

(j)            any issuance, sale, disposition or encumbrance of equity securities to any officer, director or affiliate, or any change in their outstanding shares of capital stock or their capitalization, whether by reason of reclassification, recapitalization, stock split, combination, exchange or readjustment of shares, stock dividend or otherwise; or

 

(k)           any arrangement or commitment by RISE KING or any of its subsidiaries to do any of the matters described in this Section 3.20.

 

3.18        Disclosure.  RISE KING confirms that neither it nor any person acting on its behalf has provided Shell Company or its agents or counsel with any information that it believes constitutes material, non-public information except insofar as the existence and terms of the proposed transactions hereunder may constitute such information and except for information that will be disclosed by Shell Company under a shell company report on Form 20-F filed within four business days after the Closing. RISE KING understands and confirms that Shell Company will rely on the foregoing representations and covenants in effecting transactions in securities of RISE KING. All of the representations and warranties of RISE KING set forth in this Agreement are true and correct and do not contain any untrue statement of a material fact or omit to state any material fact necessary in order to make the statements made therein, in light of the circumstances under which they were made, not misleading.

 

ARTICLE IV

Representations and Warranties of Shell Company

 

Shell Company represents and warrants as follows to RISE KING and the RISE KING Shareholders.

  

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4.1          Organization, Standing and Power.  Shell Company is duly organized, validly existing and in good standing under the laws of the jurisdiction in which it is organized and has full corporate power and authority and possesses all governmental franchises, licenses, permits, authorizations and approvals necessary to enable it to own, lease or otherwise hold its properties and assets and to conduct its businesses as presently conducted, other than such franchises, licenses, permits, authorizations and approvals the lack of which, individually or in the aggregate, has not had and would not reasonably be expected to have a material adverse effect on Shell Company, a material adverse effect on the ability of Shell Company to perform its obligations under this Agreement or on the ability of Shell Company to consummate the Transactions (a “Shell Company Material Adverse Effect”). Shell Company is duly qualified to do business in each jurisdiction where the nature of its business or its ownership or leasing of its properties makes such qualification necessary and where the failure to so qualify would reasonably be expected to have a Shell Company Material Adverse Effect. Shell Company has delivered to RISE KING or its counsel true and complete copies of the Shell Company Constituent Instruments.

 

4.2          Subsidiaries; Equity Interests.  Shell Company does not own, directly or indirectly, any capital stock, membership interest, partnership interest, joint venture interest or other equity interest in any person.

 

4.3          Capital Structure.  Upon the effectiveness of the Amended Charter (defined below), the authorized capital stock of Shell Company shall consist of 100,000,000 ordinary shares of $0.01 par value each. As of the date hereof, (a) 50,000 ordinary shares are issued and outstanding, (b) no preference shares are issued and outstanding, and (c) no ordinary shares or preference shares are held by Shell Company in its treasury. Upon the effectiveness of the Amended Charter (defined below), (a) 5,000,000 ordinary shares will be issued and outstanding, (b) no preference shares will be issued and outstanding, and (c) no ordinary shares or preference shares will be held by Shell Company in its treasury. Except as set forth above, no shares of capital stock or other voting securities of Shell Company were issued, reserved for issuance or outstanding. Upon the effectiveness of the Amended Charter (defined below), all outstanding shares of the capital stock of Shell Company, and all such shares that may be issued prior to date, will be duly authorized, validly issued, fully paid and nonassessable.  None of the outstanding shares of capital stock are subject to or issued in violation of any purchase option, call option, right of first refusal, preemptive right, subscription right or any similar right under any provision of the applicable corporate laws of the British Virgin Islands, the Shell Company Constituent Instruments or any Contract to which Shell Company is a party or otherwise bound. There are not any bonds, debentures, notes or other indebtedness of Shell Company having the right to vote (or convertible into, or exchangeable for, securities having the right to vote) on any matters on which holders of Shell Company’s ordinary shares may vote (“Voting Shell Company Debt”). As of the date of this Agreement, there are not any options, warrants, rights, convertible or exchangeable securities, “phantom” stock rights, stock appreciation rights, stock-based performance units, commitments, Contracts, arrangements or undertakings of any kind to which Shell Company is a party or by which it is bound (a) obligating Shell Company to issue, deliver or sell, or cause to be issued, delivered or sold, additional shares of capital stock or other equity interests in, or any security convertible or exercisable for or exchangeable into any capital stock of or other equity interest in, Shell Company or any Voting Shell Company Debt, (b) obligating Shell Company to issue, grant, extend or enter into any such option, warrant, call, right, security, commitment, Contract, arrangement or undertaking or (c) that give any person the right to receive any economic benefit or right similar to or derived from the economic benefits and rights occurring to holders of the capital stock of Shell Company. As of the date of this Agreement, there are not any outstanding contractual obligations of Shell Company to repurchase, redeem or otherwise acquire any shares of capital stock of Shell Company. The RISE KING Shareholder list provided to RISE KING is a current shareholder list and accurately reflects all of the issued and outstanding shares of Shell Company’s capital stock.

 

4.4          Authority; Execution and Delivery; Enforceability.  The execution and delivery by Shell Company of this Agreement and the consummation by Shell Company of the Transactions have been duly authorized and approved by the Board of Directors of Shell Company and no other corporate proceedings on the part of Shell Company are necessary to authorize this Agreement and the Transactions. This Agreement constitutes a legal, valid and binding obligation of Shell Company, enforceable against Shell Company in accordance with the terms hereof.

 

4.5          No Conflicts; Consents.

 

(a)           The execution and delivery by Shell Company of this Agreement does not, and the consummation of Transactions and compliance with the terms hereof will not, contravene, conflict with or result in any violation of or default (with or without notice or lapse of time, or both) under, or give rise to a right of termination, cancellation or acceleration of any obligation or to loss of a material benefit under, or to increased, additional, accelerated or guaranteed rights or entitlements of any person under, or result in the creation of any Lien upon any of the properties or assets of Shell Company under, any provision of (i) the Shell Company Constituent Instruments, (ii) any material Contract to which Shell Company is a party or to which any of its properties or assets is subject or (iii) subject to the filings and other matters referred to in Section 4.5(b), any material Order or material Law applicable to Shell Company or its properties or assets, other than, in the case of clauses (ii) and (iii) above, any such items that, individually or in the aggregate, have not had and would not reasonably be expected to have a Shell Company Material Adverse Effect.

  

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(b)           Except for required filings with the SEC, and filings in the British Virgin Islands in connection with the Amended Charter (defined below), no Consent of, or registration, declaration or filing with, or permit from, any Governmental Entity is required to be obtained or made by or with respect to Shell Company in connection with the execution, delivery and performance of this Agreement or the consummation of the Transactions.

 

4.6          Taxes.

 

(a)           Shell Company has timely filed, or has caused to be timely filed on its behalf, all Tax Returns required to be filed by it, and all such Tax Returns are true, complete and accurate, except to the extent any failure to file, any delinquency in filing or any inaccuracies in any filed Tax Returns, individually or in the aggregate, have not had and would not reasonably be expected to have a Shell Company Material Adverse Effect. All Taxes shown to be due on such Tax Returns, or otherwise owed, have been timely paid, except to the extent that any failure to pay, individually or in the aggregate, has not had and would not reasonably be expected to have a Shell Company Material Adverse Effect.

 

(b)           The most recent financial statements contained in the SEC Reports reflect an adequate reserve for all Taxes payable by Shell Company (in addition to any reserve for deferred Taxes to reflect timing differences between book and Tax items) for all taxable periods and portions thereof through the date of such financial statements. No deficiency with respect to any Taxes has been proposed, asserted or assessed against Shell Company, and no requests for waivers of the time to assess any such Taxes are pending, except to the extent any such deficiency or request for waiver, individually or in the aggregate, has not had and would not reasonably be expected to have a Shell Company Material Adverse Effect.

 

(c)           There are no Liens for Taxes (other than for current Taxes not yet due and payable) on the assets of Shell Company. Shell Company is not bound by any agreement with respect to Taxes.

 

4.7          Benefit Plans.  Shell Company does not, and since its inception never has, maintained or contributed to any bonus, pension, profit sharing, deferred compensation, incentive compensation, stock ownership, stock purchase, stock option, phantom stock, retirement, vacation, severance, disability, death benefit, hospitalization, medical or other plan, arrangement or understanding (whether or not legally binding) providing benefits to any current or former employee, officer or director of Shell Company. As of the date of this Agreement, there are not any employment, consulting, indemnification, severance or termination agreements or arrangements between Shell Company and any current or former employee, officer or director of Shell Company, nor does Shell Company have any general severance plan or policy.

 

4.8          Benefit Plans.  Shell Company does not, and since its inception never has, maintained or contributed to any benefit plan for the benefit of any current or former employees, consultants, officers or directors of Shell Company.

 

4.9          Litigation.  There is no Action against or affecting Shell Company or any of its properties which (a) adversely affects or challenges the legality, validity or enforceability of either of this Agreement or the Shares or (b) could, if there were an unfavorable decision, individually or in the aggregate, have or reasonably be expected to result in a Shell Company Material Adverse Effect. Neither Shell Company nor any director or officer (in his or her capacity as such), is or has been the subject of any Action involving a claim or violation of or liability under federal or state securities laws or a claim of breach of fiduciary duty.

  

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4.10        Compliance with Applicable Laws.  Shell Company is in compliance with all applicable Laws, including those relating to occupational health and safety, the environment, export controls, trade sanctions and embargoes, except for instances of noncompliance that, individually and in the aggregate, have not had and would not reasonably be expected to have a Shell Company Material Adverse Effect. Shell Company has not received any written communication during the past two years from a Governmental Entity that alleges that Shell Company is not in compliance in any material respect with any applicable Law. Shell Company is in compliance with all effective requirements of the Sarbanes-Oxley Act of 2002, as amended, and the rules and regulations thereunder, that are applicable to it, except where such noncompliance could not have or reasonably be expected to result in a Shell Company Material Adverse Effect. This Section 4.10 does not relate to matters with respect to Taxes, which are the subject of Section 4.6.

 

4.11        Contracts.  Except as disclosed in the SEC Reports, there are no Contracts that are material to the business, properties, assets, condition (financial or otherwise), results of operations or prospects of Shell Company taken as a whole. Shell Company is not in violation of or in default under (nor does there exist any condition which upon the passage of time or the giving of notice would cause such a violation of or default under) any Contract to which it is a party or to which it or any of its properties or assets is subject, except for violations or defaults that would not, individually or in the aggregate, reasonably be expected to result in a Shell Company Material Adverse Effect.

 

4.12        Title to Properties.  Shell Company has good title to, or valid leasehold interests in, all of its properties and assets used in the conduct of its businesses. All such assets and properties, other than assets and properties in which Shell Company has leasehold interests, are free and clear of all Liens, except for Liens that, in the aggregate, do not and will not materially interfere with the ability of Shell Company to conduct business as currently conducted. Shell Company has complied in all material respects with the terms of all material leases to which it is a party and under which it is in occupancy, and all such leases are in full force and effect. Shell Company enjoys peaceful and undisturbed possession under all such material leases.

 

4.13        Intellectual Property.  Shell Company does not own, nor is validly licensed nor otherwise has the right to use, any Intellectual Property Rights. No claims are pending or, to the knowledge of Shell Company, threatened that Shell Company is infringing or otherwise adversely affecting the rights of any person with regard to any Intellectual Property Right.

 

4.14        Labor Matters.  There are no collective bargaining or other labor union agreements to which Shell Company is a party or by which it is bound. No material labor dispute exists or, to the knowledge of Shell Company, is imminent with respect to any of the employees of Shell Company.

 

4.15        SEC Documents; Undisclosed Liabilities.

 

(a)           Shell Company has filed all reports, schedules, forms, statements and other documents required to be filed by it with the SEC since March 23, 2011, pursuant to Sections 13(a), 14(a) and 15(d) of the Exchange Act (the “SEC Reports”).

 

(b)           As of its respective filing date, the SEC Reports complied in all material respects with the requirements of the Exchange Act and the rules and regulations of the SEC promulgated thereunder applicable to the SEC Reports. Except to the extent that information contained in the SEC Reports has been revised or superseded by any report, schedule, form, statement or other document filed by Shell Company with the SEC subsequent to the filing of such revised or superseded information, none of the SEC Reports contains any untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading. The consolidated financial statements of Shell Company included in the SEC Reports comply as to form in all material respects with applicable accounting requirements and the published rules and regulations of the SEC with respect thereto, have been prepared in accordance with the U.S. generally accepted accounting principles (except, in the case of unaudited statements, as permitted by the rules and regulations of the SEC) applied on a consistent basis during the periods involved (except as may be indicated in the notes thereto) and fairly present the consolidated financial position of Shell Company and its consolidated subsidiaries as of the dates thereof and the consolidated results of their operations and cash flows for the periods shown (subject, in the case of unaudited statements, to normal year-end audit adjustments).

  

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(c)           Except as set forth in the SEC Reports, Shell Company has no liabilities or obligations of any nature (whether accrued, absolute, contingent or otherwise) required by U.S. generally accepted accounting principles to be set forth on a balance sheet of Shell Company or in the notes thereto. There are no financial or contractual obligations and liabilities (including any obligations to issue capital stock or other securities) due after the date hereof. All liabilities of Shell Company shall have been paid off and shall in no event remain liabilities of Shell Company, RISE KING or the RISE KING Shareholders following the Closing.

 

4.16        Transactions With Affiliates and Employees.  Except as disclosed in the SEC Reports, none of the officers or directors of Shell Company and, to the knowledge of Shell Company, none of the employees of Shell Company is presently a party to any transaction with Shell Company (other than for services as employees, officers and directors), including any Contract or other arrangement providing for the furnishing of services to or by, providing for rental of real or personal property to or from, or otherwise requiring payments to or from any officer, director or such employee or, to the knowledge of Shell Company, any entity in which any officer, director, or any such employee has a substantial interest or is an officer, director, trustee or partner.

 

4.17        Investment Company.  Shell Company is not, and is not an affiliate of, and immediately following the Closing will not have become, an “investment company” within the meaning of the Investment Company Act of 1940, as amended.

 

4.18        Foreign Corrupt Practices.  Neither Shell Company, nor to Shell Company’s knowledge, any director, officer, agent, employee or other person acting on behalf of Shell Company has, in the course of its actions for, or on behalf of, Shell Company (a) used any corporate funds for any unlawful contribution, gift, entertainment or other unlawful expenses relating to political activity; (b) made any direct or indirect unlawful payment to any foreign or domestic government official or employee from corporate funds; or (c) made any unlawful bribe, rebate, payoff, influence payment, kickback or other unlawful payment to any foreign or domestic government official or employee.

 

4.19        Absence of Certain Changes or Events.  Except as disclosed in the SEC Reports, from the date of the most recent financial statements contained in the SEC Reports to the date of this Agreement, Shell Company has conducted its business only in the ordinary course, and during such period there has not been:

 

(a)           any change in the assets, liabilities, financial condition or operating results of Shell Company from that reflected in the financial statements contained in the SEC Reports, except changes in the ordinary course of business that have not caused, in the aggregate, a Shell Company Material Adverse Effect;

 

(b)           any damage, destruction or loss, whether or not covered by insurance, that would have a Shell Company Material Adverse Effect;

 

(c)           any waiver or compromise by Shell Company of a valuable right or of a material debt owed to it;

 

(d)           any satisfaction or discharge of any lien, claim, or encumbrance or payment of any obligation by Shell Company, except in the ordinary course of business and the satisfaction or discharge of which would not have a Shell Company Material Adverse Effect;

 

(e)           any material change to a material Contract by which Shell Company or any of its assets is bound or subject;

 

(f)           any material change in any compensation arrangement or agreement with any employee, officer, director or shareholder;

 

(g)           any resignation or termination of employment of any officer of Shell Company;

 

(h)           any mortgage, pledge, transfer of a security interest in or lien created by Shell Company with respect to any of its material properties or assets, except liens for taxes not yet due or payable and liens that arise in the ordinary course of business and that do not materially impair Shell Company’s ownership or use of such property or assets;

  

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(i)            any loans or guarantees made by Shell Company to or for the benefit of its employees, officers or directors, or any members of their immediate families, other than travel advances and other advances made in the ordinary course of its business;

 

(j)            any declaration, setting aside or payment or other distribution in respect of any of Shell Company’s capital stock, or any direct or indirect redemption, purchase, or other acquisition of any of such stock by Shell Company;

 

(k)           any alteration of Shell Company’s method of accounting or the identity of its auditors;

 

(l)            any issuance of equity securities to any officer, director or affiliate, except pursuant to existing Shell Company stock option plans; or

 

(m)          any arrangement or commitment by Shell Company to do any of the matters described in this Section 4.19.

 

4.20        Certain Registration Matters.  Shell Company has not granted or agreed to grant to any person any rights (including “piggy-back” registration rights) to have any securities of Shell Company registered with the SEC or any other governmental authority that have not been satisfied.

 

4.21        Disclosure.  Shell Company confirms that neither it nor any person acting on its behalf has provided RISE KING, the RISE KING Shareholder or their respective agents or counsel with any information that Shell Company believes constitutes material, non-public information except insofar as the existence and terms of the proposed transactions hereunder may constitute such information and except for information that will be disclosed by Shell Company under a shell company report on Form 20-F filed within four business days after the Closing. Shell Company understands and confirms that RISE KING and the RISE KING Shareholders will rely on the foregoing representations and covenants in effecting transactions in securities of Shell Company. All of the representations and warranties set forth in this Agreement are true and correct and do not contain any untrue statement of a material fact or omit to state any material fact necessary in order to make the statements made therein, in light of the circumstances under which they were made, not misleading.

 

4.22        No Undisclosed Events, Liabilities, Developments or Circumstances.  No event, liability, development or circumstance has occurred or exists, or is contemplated to occur with respect to Shell Company, or its businesses, properties, prospects, operations or financial condition, that would be required to be disclosed by Shell Company under applicable securities laws on a registration statement filed with the SEC relating to an issuance and sale by Shell Company of its ordinary shares and which has not been publicly announced or will not be publicly announced in a shell company report on Form 20-F filed within four business days after the Closing.

 

4.23        No Additional Agreements.  Shell Company does not have any agreement or understanding with RISE KING or the RISE KING Shareholders with respect to the Transactions other than as specified in this Agreement.

 

ARTICLE V

Representations and Warranties of the Shell Company Shareholder

 

5.1          Good Title.  Upon the effectiveness of the Amended Charter, the Shell Company Shareholder will be the record and beneficial owner, and has good title to its Shell Company Stock, with the right and authority to sell and deliver such Shell Company Stock, free and clear of all Liens, claims, charges, encumbrances, pledges, mortgages, security interests, options, rights to acquire, proxies, voting trusts or similar agreements, restrictions on transfer or adverse claims of any nature whatsoever. Upon delivery of any certificate or certificates duly assigned, representing the same as herein contemplated and/or upon registering of the RISE KING Shareholders as the new owner of such Shell Company Stock in the share register of Shell Company, the RISE KING Shareholders will receive good title to such Shell Company Stock, free and clear of all Liens provided that the Amended Charter is then effective.

  

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5.2          Power and Authority.  The Shell Company Shareholder has the legal power and authority to execute and deliver this Agreement and to perform its obligations hereunder. All acts required to be taken by the Shell Company Shareholder to enter into this Agreement and to carry out the Transactions have been properly taken. This Agreement constitutes a legal, valid and binding obligation of the Shell Company Shareholder, enforceable against the Shell Company Shareholder in accordance with the terms hereof.

 

5.3          No Conflicts.  The execution and delivery of this Agreement by the Shell Company Shareholder and the performance by the Shell Company Shareholder of its obligations hereunder in accordance with the terms hereof: (a) will not require the consent of any third party or Governmental Entity under any Laws; (b) will not violate any Laws applicable to the Shell Company Shareholder; and (c) will not violate or breach any contractual obligation to which the Shell Company Shareholder is a party.

 

5.4          Litigation.  There is no pending proceeding against the Shell Company Shareholder that involves the Shell Company Stock to be sold by the Shell Company Shareholder pursuant to this Agreement or that challenges, or may have the effect of preventing, delaying or making illegal, or otherwise interfering with, any of the Transactions and, to the knowledge of the Shell Company Shareholder, no such proceeding has been threatened, and no event or circumstance exists that is reasonably likely to give rise to or serve as a basis for the commencement of any such proceeding.

 

5.5          No Finder’s Fee.  The Shell Company Shareholder has not created any obligation for any finder’s, investment banker’s or broker’s fee in connection with the Transactions that are not payable entirely by the RISE KING Shareholder.

 

5.6          Disclosure.  This Agreement, the schedules hereto and any certificate attached hereto or delivered in accordance with the terms hereof by or on behalf of the Shell Company Shareholder in connection with the Transactions, when taken together, do not contain any untrue statement of a material fact or omit any material fact necessary in order to make the statements contained herein and/or therein not misleading.

 

ARTICLE VI

Conditions to Closing

 

6.1          Shell Company Conditions Precedent.  The obligations of the RISE KING Shareholders and RISE KING to enter into and complete the Closing are subject, at the option of the RISE KING Shareholders and RISE KING, to the fulfillment on or prior to the Closing Date of the following conditions, any one or more of which may be waived by RISE KING and the RISE KING Shareholders in writing.

 

(a)           Representations and Covenants.  The representations and warranties of Shell Company and Shell Company Shareholder contained in this Agreement shall be true in all material respects on and as of the Closing Date with the same force and effect as though made on and as of the Closing Date. Shell Company and Shell Company Shareholder shall have performed and complied in all material respects with all covenants and agreements required by this Agreement to be performed or complied with by Shell Company or the Shell Company Shareholders, respectively, on or prior to the Closing Date. Shell Company and Shell Company Shareholder shall have delivered to the RISE KING Shareholders and RISE KING a certificate, dated the Closing Date, to the foregoing effect.

 

(b)           Litigation.  No action, suit or proceeding shall have been instituted before any court or governmental or regulatory body or instituted or threatened by any governmental or regulatory body to restrain, modify or prevent the carrying out of the Transactions or to seek damages or a discovery order in connection with such Transactions. No action, suit or proceeding before any court or governmental or regulatory body or instituted or threatened by any governmental or regulatory body has or may have, in the reasonable opinion of RISE KING or the RISE KING Shareholders, a Shell Company Material Adverse Effect.

 

(c)           Consents.  Shell Company shall have obtained all material consents, waivers, approvals, authorizations or orders required to be obtained, and made all filings required to be made, for the authorization, execution and delivery of this Agreement and the consummation of the Transactions, except where the failure to receive such consents, waivers, approvals, authorizations or orders or to make such filings would not have a Shell Company Material Adverse Effect.

  

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(d)           No Material Adverse Change.  There shall not have been any occurrence, event, incident, action, failure to act, or transaction since April 30, 2010 which has had or is reasonably likely to cause a Shell Company Material Adverse Effect.

 

(e)           Amended Charter.  Shell Company shall have filed all necessary documents and taken all other necessary actions to amend its articles and memorandum of association in the form attached hereto as Exhibit A (the “Amended Charter”).

 

(f)           Post-Closing Capitalization.  At, and immediately after, the Closing, the authorized capitalization, and the number of issued and outstanding shares of the capital stock of Shell Company, on a fully-diluted basis, as indicated on a schedule to be delivered by the Parties at or prior to the Closing, shall be acceptable to RISE KING and the RISE KING Shareholders.

 

(g)           Satisfactory Completion of Due Diligence.  RISE KING and the RISE KING Shareholders shall have completed their legal, accounting and business due diligence of Shell Company and the results thereof shall be satisfactory to RISE KING and the RISE KING Shareholders in their sole and absolute discretion.

 

(h)           SEC Reports.  Shell Company shall have filed all reports and other documents required to be filed by it under the U.S. federal securities laws through the Closing Date.

 

(i)            Secretary’s Certificate.  Shell Company shall have delivered to RISE KING and the RISE KING Shareholders a certificate, signed by Shell Company’s Secretary (or authorized director or officer), certifying that the attached copies of the Shell Company Constituent Instruments, as amended pursuant to the Charter Amendment,  and resolutions of its Board of Directors approving this Agreement and the Transactions are all true, complete and correct and remain in full force and effect.

 

(j)            Payoff Letters and Releases.  Shell Company shall have delivered to RISE KING and the RISE KING Shareholders such pay-off letters and releases relating to liabilities of Shell Company as RISE KING or the RISE KING Shareholders shall request, in form and substance satisfactory to RISE KING and the RISE KING Shareholders.

 

(k)           Issuance of Shares.  Shell Company and Shell Company Shareholder shall have issued the Shares on the Shell Company’s share registry. At or within five business days following the Closing, Shell Company and Shell Company Shareholder shall deliver to the RISE KING Shareholders a certificate representing the Shares.

 

(l)            No Governmental Prohibition.  No order, statute, rule, regulation. executive order, injunction, stay, decree, judgment or restraining order shall have been enacted, entered, promulgated or enforced by any Governmental Entity which prohibits the consummation of the Transactions.

 

6.2          RISE KING Conditions Precedent.  The obligations of Shell Company and Shell Company Shareholder to enter into and complete the Closing is subject, at the option of Shell Company and Shell Company Shareholder, to the fulfillment on or prior to the Closing Date of the following conditions, any one or more of which may be waived by Shell Company or Shell Company Shareholder in writing.

 

(a)           Representations and Covenants.  The representations and warranties of the RISE KING Shareholders and RISE KING contained in this Agreement shall be true in all material respects on and as of the Closing Date with the same force and effect as though made on and as of the Closing Date.  The RISE KING Shareholders and RISE KING shall have performed and complied in all material respects with all covenants and agreements required by this Agreement to be performed or complied with by the RISE KING Shareholders and RISE KING on or prior to the Closing Date. Each of RISE KING and the RISE KING Shareholders shall have delivered to Shell Company and Shell Company Shareholder a certificate, dated the Closing Date, to the foregoing effect.

  

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(b)           Litigation.  No action, suit or proceeding shall have been instituted before any court or governmental or regulatory body or instituted or threatened by any governmental or regulatory body to restrain, modify or prevent the carrying out of the Transactions or to seek damages or a discovery order in connection with such Transactions, or which has or may have, in the reasonable opinion of Shell Company and Shell Company Shareholder, a materially adverse effect on the assets, properties, business, operations or condition (financial or otherwise) of RISE KING.

 

(c)           Consents.  All material consents, waivers, approvals, authorizations or orders required to be obtained, and all filings required to be made, by the RISE KING Shareholders or RISE KING for the authorization, execution and delivery of this Agreement and the consummation by them of the Transactions, shall have been obtained and made by the RISE KING Shareholders or RISE KING, except where the failure to receive such consents, waivers, approvals, authorizations or orders or to make such filings would not have a RISE KING Material Adverse Effect.

 

(d)           No Material Adverse Change.  There shall not have been any occurrence, event, incident, action, failure to act, or transaction since the date of the RISE KING Financial Statements which has had or is reasonably likely to cause a RISE KING Material Adverse Effect.

 

(e)           Post-Closing Capitalization.  At, and immediately after, the Closing, the authorized capitalization, and the number of issued and outstanding shares of the capital stock of Shell Company, on a fully-diluted basis, as indicated on a schedule to be delivered by the Parties at or prior to the Closing, shall be acceptable to Shell Company.

 

(f)           Satisfactory Completion of Due Diligence.  Shell Company shall have completed its legal, accounting and business due diligence of RISE KING and the results thereof shall be satisfactory to Shell Company in its sole and absolute discretion.

 

(g)           Secretary’s Certificate.  RISE KING shall have delivered to Shell Company a certificate, signed by its Secretary (or authorized director or officer), certifying that the attached copies of the RISE KING Constituent Instruments and resolutions of the Board of Directors of RISE KING approving this Agreement and the Transactions are all true, complete and correct and remain in full force and effect.

 

(h)           Delivery of Audit Report and Financial Statements.  RISE KING shall have completed the RISE KING Financial Statements and shall have received an audit report from an independent audit firm that is registered with the Public Company Accounting Oversight Board.

 

(i)            Form 20-F.  RISE KING shall have provided Shell Company with reasonable assurances that Shell Company will be able to comply with its obligation to file a shell company report on Form 20-F within four (4) business days following the Closing containing the requisite financial statements of RISE KING and the requisite disclosure regarding RISE KING and its subsidiaries.

 

(j)            Share Transfer Documents.  The RISE KING Shareholders shall have delivered to Shell Company certificate(s) representing its RISE KING Stock, accompanied by an executed instrument of transfer and bought and sold note for transfer by the RISE KING Shareholders of its RISE KING Stock to Shell Company.

 

(k)           No Governmental Prohibition.  No order, statute, rule, regulation. executive order, injunction, stay, decree, judgment or restraining order shall have been enacted, entered, promulgated or enforced by any Governmental Entity which prohibits the consummation of the Transactions.

 

(l)            Delivery of Purchase Price.  The RISE KING Shareholders shall have delivered to the Shell Company Shareholder the applicable purchase price for the Shares to be purchased by each RISE KING Shareholder.

  

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ARTICLE VII

Covenants

 

7.1           Amended Charter.  Shell Company shall file all necessary documents and take all other necessary actions to amend its articles of association in accordance with the Amended Charter.

 

7.2           Public Announcements.  Shell Company and RISE KING will consult with each other before issuing, and provide each other the opportunity to review and comment upon, any press releases or other public statements with respect to this Agreement and the Transactions and shall not issue any such press release or make any such public statement prior to such consultation, except as may be required by applicable Law, court process or by obligations pursuant to any listing agreement with any national securities exchanges.

 

7.3           Fees and Expenses.  All fees and expenses incurred in connection with this Agreement shall be paid by the Party incurring such fees or expenses, whether or not this Agreement is consummated.

 

7.4           Continued Efforts.  Each Party shall use commercially reasonable efforts to (a) take all action reasonably necessary to consummate the Transactions, and (b) take such steps and do such acts as may be necessary to keep all of its representations and warranties true and correct as of the Closing Date with the same effect as if the same had been made, and this Agreement had been dated, as of the Closing Date.

 

7.5           Exclusivity.  Neither Shell Company nor RISE KING shall (a) solicit, initiate, or encourage the submission of any proposal or offer from any person relating to the acquisition of any capital stock or other voting securities of Shell Company or RISE KING (as applicable), or any assets of Shell Company or RISE KING (as applicable) (including any acquisition structured as a merger, consolidation, share exchange or other business combination), (b) participate in any discussions or negotiations regarding, furnish any information with respect to, assist or participate in, or facilitate in any other manner any effort or attempt by any person to do or seek any of the foregoing, or (c) take any other action that is inconsistent with the Transactions and that has the effect of avoiding the Closing contemplated hereby. Each shall notify the other immediately if any person makes any proposal, offer, inquiry, or contact with respect to any of the foregoing.

 

7.6           Filing of 20-F.  Shell Company shall file, within four (4) business days of the Closing Date, a shell company report on Form 20-F and attach as exhibits all relevant agreements with the SEC disclosing the terms of this Agreement and other requisite disclosure regarding the Transactions and including the requisite audited consolidated financial statements of RISE KING and the requisite disclosure regarding RISE KING and its subsidiaries. In addition, Shell Company shall issue a press release at a mutually agreeable time following the Closing Date.

 

7.7           Furnishing of Information.  As long as the RISE KING Shareholders own the Shares, Shell Company covenants to timely file (or obtain extensions in respect thereof and file within the applicable grace period) all reports required to be filed by Shell Company after the date hereof pursuant to the Exchange Act. As long as the RISE KING Shareholders own the Shares, if Shell Company is not required to file reports pursuant to such laws, it will prepare and furnish to the RISE KING Shareholders and make publicly available in accordance with Rule 144(c) promulgated by the SEC pursuant to the Securities Act, such information as is required for the RISE KING Shareholders to sell Shares under Rule 144. Shell Company further covenants that it will take such further action as any holder of the Shares may reasonably request, all to the extent required from time to time to enable such person to sell the Shares without registration under the Securities Act within the limitation of the exemptions provided by Rule 144.

 

7.8           Access.  Each of Shell Company and RISE KING shall permit representatives of each other to have full access to all premises, properties, personnel, books, records, contracts, and documents of or pertaining to such party.

  

16

  

7.9           Preservation of Business.  From the date of this Agreement until the Closing Date, each of RISE KING and Shell Company shall, except as otherwise permitted by the terms of this Agreement, operate only in the ordinary and usual course of business consistent with its past practices and shall use reasonable commercial efforts to (a) preserve intact its business organization, (b) preserve the good will and advantageous relationships with customers, suppliers, independent contractors, employees and other persons material to the operation of its business, and (c) not permit any action or omission that would cause any of its representations or warranties contained herein to become inaccurate or any of its covenants to be breached in any material respect.

 

ARTICLE VIII

Miscellaneous

 

8.1           Notices.  All notices, requests, claims, demands and other communications under this Agreement shall be in writing and shall be deemed given upon receipt by the Parties at the following addresses (or at such other address for a Party as shall be specified by like notice):

 

If to Shell Company, to:

Wei Guo

RICH MOUNTAIN ENTERPRISES LIMITED

35/F Central Plaza

18 Harbour Road

Wanchai, Hong Kong

 

If to Shell Company Shareholder, to:

 

ETERNAL CITY INVESTMENTS LTD.

35/F Central Plaza

18 Harbour Road

Wanchai, Hong Kong

 

If to RISE KING, to:

 

Akara Bldg.,

24 De Castro Street,

Wickhams Cay 1, Road Town,

British Virgin Islands

with a copy to:

Kramer Levin Naftalis & Frankel LLP

1177 Avenue of the Americas

New York, New York  10036

Attention:  Bill Huo, Esq.

 

If to the RISE KING Shareholders, to:

 

No.1 Road,

Yuci Industrial Park,

Jinzhong City,

Yuci District, Jinzhong City, Shanxi, 030600,

People’s Republic of China

 

8.2           Amendments; Waivers.  No provision of this Agreement may be waived or amended except in a written instrument signed by RISE KING, Shell Company, the RISE KING Shareholders and the Shell Company Shareholder. No waiver of any default with respect to any provision, condition or requirement of this Agreement shall be deemed to be a continuing waiver in the future or a waiver of any subsequent default or a waiver of any other provision, condition or requirement hereof, nor shall any delay or omission of any Party to exercise any right hereunder in any manner impair the exercise of any such right.

  

17

  

 

8.3           Replacement of Securities.  If any certificate or instrument evidencing any Shares is mutilated, lost, stolen or destroyed, Shell Company and Shell Company Shareholder shall issue or cause to be issued in exchange and substitution for and upon cancellation thereof, or in lieu of and substitution therefor, a new certificate or instrument, but only upon receipt of evidence reasonably satisfactory to Shell Company and Shell Company Shareholder of such loss, theft or destruction and customary and reasonable indemnity, if requested. The applicants for a new certificate or instrument under such circumstances shall also pay any reasonable third-party costs associated with the issuance of such replacement Shares. If a replacement certificate or instrument evidencing any Shares is requested due to a mutilation thereof, Shell Company and Shell Company Shareholder may require delivery of such mutilated certificate or instrument as a condition precedent to any issuance of a replacement.

 

8.4           Remedies.  In addition to being entitled to exercise all rights provided herein or granted by law, including recovery of damages, each of the RISE KING Shareholders, Shell Company, RISE KING and Shell Company Shareholder will be entitled to specific performance under this Agreement. The Parties agree that monetary damages may not be adequate compensation for any loss incurred by reason of any breach of obligations described in the foregoing sentence and hereby agrees to waive in any action for specific performance of any such obligation the defense that a remedy at law would be adequate.

 

8.5           Limitation of Liability.  Notwithstanding anything herein to the contrary, each of Shell Company, RISE KING and the RISE KING Shareholders acknowledges and agrees that the liability of any Shareholder arising directly or indirectly, under any Transaction Document of any and every nature whatsoever shall be satisfied solely out of the assets of such Shareholder, and that no trustee, officer, other investment vehicle or any other affiliate of such Shareholder or any investor, shareholder or holder of shares of beneficial interest of such Shareholder shall be personally liable for any liabilities of such Shareholder.

 

8.6           Interpretation.  When a reference is made in this Agreement to a Section, such reference shall be to a Section of this Agreement unless otherwise indicated. Whenever the words “include”, “includes” or “including” are used in this Agreement, they shall be deemed to be followed by the words “without limitation”.

 

8.7           Severability.  If any term or other provision of this Agreement is invalid, illegal or incapable of being enforced by any rule or Law, or public policy, all other conditions and provisions of this Agreement shall nevertheless remain in full force and effect so long as the economic or legal substance of the Transactions is not affected in any manner materially adverse to any Party. Upon such determination that any term or other provision is invalid, illegal or incapable of being enforced, the Parties shall negotiate in good faith to modify this Agreement so as to effect the original intent of the Parties as closely as possible in an acceptable manner to the end that the Transactions are fulfilled to the extent possible.

 

8.8           Counterparts; Facsimile Execution.  This Agreement may be executed in one or more counterparts, all of which shall be considered one and the same agreement and shall become effective when one or more counterparts have been signed by each of the Parties and delivered to the other Parties. Facsimile execution and delivery of this Agreement is legal, valid and binding for all purposes.

 

8.9           Entire Agreement; Third Party Beneficiaries.  This Agreement, taken together with the RISE KING Disclosure Letter, (a) constitute the entire agreement and supersede all prior agreements and understandings, both written and oral, among the Parties with respect to the Transactions and (b) are not intended to confer upon any person other than the Parties any rights or remedies.

 

8.10         Survival.  The representations, warranties, and covenants of the respective Parties shall survive the Closing Date and the consummation of the Transactions for a period of eighteen (18) months.

  

18

  

 

8.11         Governing Law.  This Agreement shall be governed by, and construed in accordance with, the laws of the State of New York, regardless of the laws that might otherwise govern under applicable principles of conflicts of laws thereof, (except to the extent the laws of the British Virgin Islands are mandatorily applicable to the Transactions).

 

8.12         Assignment.  Neither this Agreement nor any of the rights, interests or obligations under this Agreement shall be assigned, in whole or in part, by operation of law or otherwise by any of the Parties without the prior written consent of each of the other Parties. Any purported assignment without such consent shall be void. Subject to the preceding sentences, this Agreement will be binding upon, inure to the benefit of, and be enforceable by, the Parties and their respective successors and assigns.

 

[Signature Page Follows]

  

19

  

IN WITNESS WHEREOF, the parties hereto have caused this Share Exchange Agreement to be duly executed by their respective authorized signatories as of the date first indicated above.

 

	  	  	
RICH MOUNTAIN ENTERPRISES LIMITED

	  	  	  
	  	
By:

	  
	  	  	
Name:   WEI GUO

	  	  	
Title:   PRESIDENT

	  	  	  
	  	  	
SHELL COMPANY SHAREHOLDER

	  	  	  
	  	  	  
	  	  	
ETERNAL CITY INVESTMENTS LTD.

	  	  	  
	  	  	
RISE KING MANAGEMENT LIMITED

	  	  	  
	  	
By:

	  
	  	  	
Name: XUDONG LIU

	  	  	
Title: DIRECTOR

	  	  	  
	  	
By:

	  
	  	  	
Name: NING LI

	  	  	
Title: DIRECTOR

	  	  	  
	  	  	  
	  	  	
DAWNING HOLDING LIMITED

	  	  	  
	  	  	  
	  	  	
WELLYI HOLDING LIMITED

	  	  	  
	  	  	  
	  	  	
HAOTAI HOLDING LIMITED

	  	  	  
	  	  	  
	  	  	
RUIZE HOLDING LIMITED

	  	  	  
	  	  	  
	  	  	
PO CHEUNG HOLDING LIMITED

	  	  	  
	  	  	  
	  	  	
RYEFONE INC. LIMITED

  

20

  

	  	  	  
	  	  	
VISION GUIDE HOLDING LIMITED

	  	  	  
	  	  	  
	  	  	
GOOD BRIDGE HOLDINGS LIMITED

	  	  	  
	  	  	  
	  	  	
JING HUANG

	  	  	  
	  	  	  
	  	  	
Leopard Management Holdings Ltd.

	  	  	  
	  	  	  
	  	  	
Patriot Management Ltd.

	  	  	  
	  	  	  
	  	  	
MARKO INTERNATIONAL LIMITED

	  	  	  
	  	  	  
	  	  	
CITY LINKAGE HOLDINGS LIMITED

  

21

  

SCHEDULE A

 

Shell Company Shareholder:

 

ETERNAL CITY INVESTMENTS LTD. – 50,000 ordinary shares (5,000,000 ordinary shares following the effectiveness of the Amended Charter)

35/F Central Plaza

18 Harbour Road

Wanchai, Hong Kong

RISE KING Shareholders:

 

DAWNING HOLDING LIMITED 63.6% (31800 ordinary shares)

P.O.Box957, Offshore Incorporations Centre, Road Town, Tortola, British Virgin Islands

WELLYI HOLDING LIMITED 7.5% (3750 ordinary shares)

P.O.Box957, Offshore Incorporations Centre, Road Town, Tortola, British Virgin Islands

HAOTAI HOLDING LIMITED 5.5% (2750 ordinary shares)

P.O.Box957, Offshore Incorporations Centre, Road Town, Tortola, British Virgin Islands

RUIZE HOLDING LIMITED 4% (2000 ordinary shares)

P.O.Box957, Offshore Incorporations Centre, Road Town, Tortola, British Virgin Islands

PO CHEUNG HOLDING LIMITED 2.4% (1200 ordinary shares)

P.O.Box957, Offshore Incorporations Centre, Road Town, Tortola, British Virgin Islands

RYEFONE INC. LIMITED 0.5% (250 ordinary shares)

Room 2707 27F, Shui On Centre 6-8 Harbour Road, Wanchai, Hong Kong, P.R.China

VISION GUIDE HOLDING LIMITED 2% (1000 ordinary shares)

P.O.Box957, Offshore Incorporations Centre, Road Town, Tortola, British Virgin Islands

GOOD BRIDGE HOLDINGS LIMITED 3% (1500 ordinary shares)

Akara Bldg., 24 De Castro Street, Wickhams Cay 1, Road Town, Tortola, British Virgin Islands

 

JING HUANG 1% (500 ordinary shares)

APT.2006, 19 BUILDING, NO.4 CUIWEI ROAD, HAIDIAN DISTRICT, BEIJING, P.R.CHINA

Leopard Management Holdings Ltd. 4.9% (2450 ordinary shares)

Akara Bldg., 24 De Castro Street, Wickhams Cay 1, Road Town, Tortola, British Virgin Islands

Patriot Management Ltd. 4.6% (2300 ordinary shares)

Akara Bldg., 24 De Castro Street, Wickhams Cay 1, Road Town, Tortola, British Virgin Islands

MARKO INTERNATIONAL LIMITED 0.35% (175 ordinary shares)

Akara Bldg., 24 De Castro Street, Wickhams Cay 1, Road Town, Tortola, British Virgin Islands

CITY LINKAGE HOLDINGS LIMITED 0.65% (325 ordinary shares)

Akara Bldg., 24 De Castro Street, Wickhams Cay 1, Road Town, Tortola, British Virgin Islands

  

22

  

SCHEDULE B

 

	
Name of Shareholder

	 	
Number of Shares

Newly Issued by the

Shell

	 	 	
Number of Shares

Acquired from the Shell

Shareholder

	 	 	
Total Number of Shell

Shares Held Following

the Share Exchange

	 
	
DAWNING HOLDING LIMITED

	 	 	4,452,000	 	 	 	3,180,000	 	 	 	7,632,000	 
	
WELLYI HOLDING LIMITED

	 	 	525,000	 	 	 	375,000	 	 	 	900,000	 
	
HAOTAI HOLDING LIMITED

	 	 	385,000	 	 	 	275,000	 	 	 	660,000	 
	
RUIZE HOLDING LIMITED

	 	 	280,000	 	 	 	200,000	 	 	 	480,000	 
	
PO CHEUNG HOLDING LIMITED

	 	 	168,000	 	 	 	120,000	 	 	 	288,000	 
	
RYEFONE INC. LIMITED

	 	 	35,000	 	 	 	25,000	 	 	 	60,000	 
	
VISION GUIDE HOLDING LIMITED

	 	 	140,000	 	 	 	100,000	 	 	 	240,000	 
	
GOOD BRIDGE HOLDINGS LIMITED

	 	 	210,000	 	 	 	150,000	 	 	 	360,000	 
	
JING HUANG

	 	 	70,000	 	 	 	50,000	 	 	 	120,000	 
	
Leopard Management Holdings Ltd.

	 	 	343,000	 	 	 	245,000	 	 	 	588,000	 
	
Patriot Management Ltd.

	 	 	322,000	 	 	 	230,000	 	 	 	552,000	 
	
MARKO INTERNATIONAL LIMITED

	 	 	24,500	 	 	 	17,500	 	 	 	42,000	 
	
CITY LINKAGE HOLDINGS LIMITED

	 	 	45,500	 	 	 	32,500	 	 	 	78,000	 
	
Total

	 	 	7,000,000	 	 	 	5,000,000	 	 	 	12,000,000	 

  

23

  

ANNEX A

 

Definitions

 

“Action” means any action, suit, inquiry, notice of violation, proceeding (including any partial proceeding such as a deposition) or investigation pending or threatened in writing before or by any court, arbitrator, governmental or administrative agency, regulatory authority (federal, state, county, local or foreign), stock market, stock exchange or trading facility.

 

“Agreement” has the meaning set forth in the Preamble of this Agreement.

 

“Amended Charter” has the meaning set forth in Section 6.1(e) of this Agreement.

 

“Closing” has the meaning set forth in Section 1.2 of this Agreement.

 

“Closing Date” has the meaning set forth in Section 1.2 of this Agreement.

 

“Consent” means any material consent, approval, license, permit, order or authorization.

 

“Contract” means any contract, lease, license, indenture, note, bond, agreement, permit, concession, franchise or other instrument.

 

“Exchange” has the meaning set forth in the Background Section of this Agreement.

 

“Exchange Act” means the Securities Exchange Act of 1934, as amended.

 

“Governmental Entity” means any federal, state, local or foreign government or any court of competent jurisdiction, administrative agency or commission or other governmental authority or instrumentality, domestic or foreign.

 

“Hong Kong” means the Hong Kong Special Administrative Region of the People’s Republic of China.

 

“Intellectual Property Right” means any patent, patent right, trademark, trademark right, trade name, trade name right, service mark, service mark right, copyright and other proprietary intellectual property right and computer program.

 

“Law” means any statute, law, ordinance, rule, regulation, order, writ, injunction, judgment, or decree. “Laws” means the plural of any of the foregoing.

 

“Lien” means any lien, security interest, pledge, equity and claim of any kind, voting trust, stockholder agreement and other encumbrance. “Liens” means the plural of any of the foregoing.

 

“RISE KING” has the meaning set forth in the Preamble of this Agreement.

 

“RISE KING Constituent Instruments” means the certificate of incorporation and memorandum and articles of association of RISE KING and such other constituent instruments of RISE KING as may exist, each as amended to the date of this Agreement.

 

“RISE KING Disclosure Letter” means the letter delivered from RISE KING to Shell Company concurrently herewith.

 

“RISE KING Financial Statements” has the meaning set forth in the Section 3.15 of this Agreement.

 

“RISE KING Material Adverse Effect” has the meaning set forth in Section 3.1 of this Agreement.

  

24

  

 

“RISE KING Stock” has the meaning set forth in the Background Section of this Agreement.

 

“Party” and “Parties” have the meanings set forth in the Preamble of this Agreement.

 

“SEC” means the Securities and Exchange Commission.

 

“SEC Reports” has the meaning set forth in Section 4.15 of this Agreement.

 

“Securities Act” means the Securities Act of 1933, as amended.

 

“Shares” has the meaning set forth in Section 1.1 of this Agreement.

 

“Shareholder” has the meaning set forth in the Preamble of this Agreement.

 

“Shell Company” has the meaning set forth in the Preamble of this Agreement.

 

“Shell Company Constituent Instruments” means the certificate of incorporation and memorandum and articles of association of Shell Company and such other constituent instruments of Shell Company as may exist, each as amended to the date of this Agreement.

 

“Shell Company Material Adverse Effect” has the meaning set forth in Section 4.1 of this Agreement.

 

“Shell Company Stock” has the meaning set forth in the Background Section of this Agreement.

 

“Taxes” means all forms of taxation, whenever created or imposed, and whether of the United States or elsewhere, and whether imposed by a local, municipal, governmental, state, foreign, federal or other Governmental Entity, or in connection with any agreement with respect to such forms of taxation, including all interest, penalties and additions imposed with respect to such amounts. “Tax” means the singular of any of the foregoing.

 

“Tax Returns” means all federal, state, local, provincial and foreign Tax returns, declarations, statements, reports, schedules, forms and information returns and any amended Tax return relating to Taxes.

 

“Transactions” has the meaning set forth in Section 1.2 of this Agreement.

 

“Transaction Document” means any of this Agreement and any other documents or agreements executed in connection with the Transactions.

 

“Voting RISE KING Debt” has the meaning set forth in Section 3.3 of this Agreement.

 

“Voting Shell Company Debt” has the meaning set forth in Section 4.3 of this Agreement.

  

25独家业务合作协议

Exclusive Business Cooperation Agreement

本独家业务合作协议(下称“本协议”)由以下双方于2011年4月 3日在中华人民共和国(下称“中国”)晋中市签署。

This Exclusive Business Cooperation Agreement (this “Agreement”) is made and entered into by and between the following Parties on April 3rd , 2011 in  Jinzhong City, the People's Republic of China (“China” or the “PRC”).

甲方:山西势派普商务咨询有限公司

地址:山西省晋中市榆次108国道寇村段

Party A: Shanxi Shipaipu Business Consulting Co., Ltd.

Address:  Koucun Part, National Road 108, Yuci District Jinzhong City, Shanxi Province, P.R.C.

   

乙方:山西国联管业集团有限公司

地址:山西省晋中市榆次108国道寇村段

Party B:   Shanxi Guolian Pipe Industry Group Co., Ltd.

	
Address:

	
Koucun Part, National Road 108, Yuci District Jinzhong City, Shanxi Province, P.R.C.

甲方和乙方以下各称为“一方”,统称为“双方”。

Each of Party A and Party B shall be hereinafter referred to as a "Party" respectively, and as the "Parties" collectively.

鉴于:

Whereas,

	
1.

	
甲方为依据中国法律设立的外商独资企业,专业提供企业管理咨询服务;

Party A is a wholly foreign-owned limited company duly incorporated under the laws of China which is engaged in business management consulting service;

 

秘密文件 Strictly Confidential

  

  

1

  

	
2.

	
乙方是一家注册于中国晋中市的有限责任公司,主要从事管道的生产和销售(“业务”);

Party B is a limited liability company established in Jinzhong City, China, and is engaged in the manufacture and sale of pipes (the “Business”),

	
3.

	
甲方同意利用其人力、管理、资金优势,在本协议期间向乙方提供员工培训、管理咨询、融资服务等独家全面业务支持服务,乙方同意接受甲方或其指定方按本协议条款的规定提供咨询和服务。

Party A is willing to provide Party B with exclusive and comprehensive business support such as staff training, management consultation, financial services etc. during the term of this Agreement utilizing its own advantages in human resources, capital, management and Party B is willing to accept such services provided by Party A or Party A's designee(s), each on the terms set forth herein.

据此,甲方和乙方经协商一致,达成如下协议:

Now, therefore, through mutual discussion, the Parties have reached the following agreements:

	
1.

	
服务提供

Services Provided by Party A

	
  

	
1.1

	
按照本协议条款和条件,乙方在此委任甲方在本协议期间作为乙方的独家服务提供者向乙方提供全面的管理咨询、员工培训、业务支持,融资等相关服务,具体内容包括所有在乙方营业范围内由甲方视情况决定的服务,包括但不限于以下方面管理服务:

Party B hereby appoints Party A as Party B's exclusive services provider to provide Party B with complete management consultation, staff training, business support, financing and related services during the term of this Agreement, in accordance with the terms and conditions of this Agreement, of which the management services may include all services within the business scope of Party B as may be determined by Party A, such as but not limited to the following respects:

 

秘密文件 Strictly Confidential

 

  

2

  

	
  

	
a)

	
乙方日常经营方面,包括乙方与客户关系的管理,与任意方协议或安排的履行,是否符合现行法律法规要求;

All aspects of the day-to-day operation of Party B, including its relationships with its customers, its performance under agreements or other arrangements with any other parties, its compliance with applicable laws and regulations;

	
  

	
b)

	
乙方员工、顾问、代理或其他代表(包括乙方的董事和其他高级管理人员或者乙方的员工)的委派、雇佣、薪酬(包括任何奖金、非货币薪酬、附加福利和其他福利、以股权为基础的酬劳),解雇和纪律;

The appointment, hiring, compensation (including any bonuses, non-monetary compensation, fringe and other benefits, and equity-based compensation), firing and discipline of all employees, consultants, agents and other representatives of Party B, including the directors and all other executive officers or employees of Party B;

	
  

	
c)

	
为了乙方任何员工、顾问、代理、代表或者其他人员的利益,建立、维护、终止或者解除合同或者其他安排;Establishment, maintenance, termination or elimination of any plan or other arrangement for the benefit of any employees, consultants, agents, representatives or other personnel of Party B;

	
  

	
d)

	
管理、控制和授权乙方任何应收账款、应付账款和所有资金提供和投资行为;

Management, control and authority over all accounts receivables, accounts payable and all funds and investments of Party B;

	
  

	
e)

	
管理、控制和授权公司银行账户;

Management, control and authority over Company Bank Accounts;

 

秘密文件 Strictly Confidential

 

  

3

  

	
  

	
f)

	
乙方任何支出,包括任何资本性支出;

Any expenditure, including any capital expenditure, of Party B

	
  

	
g)

	
乙方作为一方的任何合同、协议和/或其他安排的订立、修改或解除;

The entry into, amendment or modification, or termination of any contract, arrangement and/or other arrangement to which Party is, was, or would become a party;

	
  

	
h)

	
乙方对任何资产、存货、不动产或动产、其他知识产权或无形资产的收购、租赁或许可;

The acquisition, lease or license by Party B of any assets, supplies, real or personal property, or intellectual or other intangible property;

	
  

	
i)

	
乙方作为一方与他方达成收购或合资或其他安排;

The acquisition of or entry into any joint venture or other arrangement by Party with any other Person;

	
  

	
j)

	
乙方任何借款或任何性质的债务或义务,或者乙方的任意资产被留置;

Any borrowing or assumption by Party B of any liability or obligation of any nature, or the subjection of any asset of Party B to any Lien:

	
  

	
k)

	
乙方对其所拥有的或实际受益拥有或控制的任何资产的销售、租赁、许可或其他处置;

Any sale, lease, license or other disposition of any asset owned, beneficially owned or controlled by Party B;

 

秘密文件 Strictly Confidential

 

  

4

  

	
  

	
l)

	
申请、更新、采取任何措施以有效维持乙方经营所需的任何许可证、执照或其他授权和批准;

Applying for, renewing, and taking any action to maintain in effect, any permits, licenses or other authorizations and approvals necessary for the operation of Party’s business;

	
  

	
m)

	
乙方作为一方,通过调解、仲裁、诉讼或申诉方式提起诉讼或者任何纠纷解决机制或对任何诉讼或纠纷达成和解;

The commencement, prosecution or settlement by Party B of any litigation or other dispute with any other Person, through mediation, arbitration, lawsuit or appeal;

	
  

	
n)

	
乙方宣布分配或者支付股息或者分配利润;

The declaration or payment of any dividend or other distribution of profits of Party B;

	
  

	
o)

	
准备和提交纳税申报表,支付或者结算所有纳税,以及办理与纳税有关的政府手续;

The preparation and filing of all Tax Returns, the payment or settlement of any and all Taxes, and the conduct of any proceedings with any Governmental Authority with respect to any Taxes.

	
  

	
1.2

	
乙方接受甲方的咨询和服务。乙方进一步同意,除非经甲方事先书面同意,在本协议期间,就本协议约定事宜,乙方不得接受任何第三方提供的任何类似服务和/或支持,不得与任何第三方建立任何类似合作。双方同意,甲方可以指定其他方(该被指定方可以与乙方签署本协议第1.3条描述的某些协议)为乙方提供本协议约定的服务和/或支持。

Party B agrees to accept all the consultations and services provided by Party A. Party B further agrees that unless with Party A's prior written consent, during the term of this Agreement, Party B shall not accept any similar consultations and/or services provided by any third party and shall not establish similar cooperation relationship with any third party regarding the matters contemplated by this Agreement. Party A may appoint other parties, who may enter into certain agreements described in Section 1.3 with Party B, to provide Party B with the consultations and/or services under this Agreement.

 

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1.3           服务的提供方式

The Providing Methodology of Service

	
  

	
1.3.1

	
甲、乙双方同意在本协议有效期内,乙方可以与甲方或甲方指定的其他方进一步签订员工培训协议和咨询服务协议,对各项员工培训和咨询服务的具体内容、方式、人员、收费等进行约定。

Party A and Party B agree that during the term of this Agreement, Party B may enter into further staff training agreements or consulting service agreements with Party A or any other party designated by Party A, which shall provide the specific contents, manner, personnel, and fees for the specific services.

	
  

	
1.3.2

	
为更好地履行本协议,甲乙双方同意在本协议有效期内将直接或通过其关联方根据乙方业务进展需要随时签署其他相关文件或协议,由甲方向乙方提供支持性服务。

To fulfill this Agreement, Party A and Party B agree that during the term of this Agreement, both Parties, directly or through their respective affiliates, may enter into other relevant documents or agreements which provide that Party A shall provide support services to Party B based on the needs of the business of Party B.

 

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2.

	
服务的价格和支付方式

The Calculation and Payment of the Service Fees

双方约定服务的费用为乙方每年100%税后净利润。

The Parties agree that Party B shall pay the 100% Net Profit After Tax as the fees for the Services under this Agreement.

双方约定支付方式按本协议第1.3条中甲乙双方后续另行签订的协议确定。

The Parties agree that the fees for the Services under this Agreement shall be paid based on the methods set forth in the separate agreement to be entered into between Party A and Party B described in Section 1.3.

	
3.

	
知识产权和保密条款

Intellectual Property Rights and Confidentiality Clauses

	
  

	
3.1

	
甲方对履行本协议而产生或创造的任何权利、所有权、权益和所有知识产权包括但不限于著作权、专利权、专利申请权、软件、技术秘密、商业机密及其他均享有独占的和排他的权利和利益。

Party A shall have exclusive and proprietary rights and interests in all rights, ownership, interests and intellectual properties arising out of or created during the performance of this Agreement, including but not limited to copyrights, patents, patent applications, software, technical secrets, trade secrets and others.

  

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3.2

	
双方承认及确定有关本协议、本协议内容,以及彼此就准备或履行本协议而交换的任何口头或书面资料均被视为保密信息。双方应当对所有该等保密信息予以保密,而在未得到另一方书面同意前,不得向任何第三者披露任何保密信息,惟下列信息除外:(a)公众人士知悉或将会知悉的任何信息(惟并非由接受保密信息之一方擅自向公众披露);(b)根据适用法律法规、股票交易规则、或政府部门或法院的命令而所需披露之任何信息;或(c)由任何一方就本协议所述交易而需向其股东、投资者、法律或财务顾问披露之信息,而该股东、法律或财务顾问亦需遵守与本条款相类似之保密责任。任何一方工作人员或聘请机构的泄密均视为该方的泄密,需依本协议承担违约责任。无论本协议以任何理由终止,惟本条款仍然生效。

The Parties acknowledge that the existence and the terms of this Agreement and any oral or written information exchanged between the Parties in connection with the preparation and performance of this Agreement are regarded as confidential information. Each Party shall maintain confidentiality of all such confidential information, and without obtaining the written consent of the other Party, it shall not disclose any relevant confidential information to any third party, except for the information that: (a) is or will be in the public domain (other than through the receiving Party’s unauthorized disclosure); (b) is under the obligation to be disclosed pursuant to the applicable laws or regulations, rules of any stock exchange, or orders of the court or other government authorities; or (c) is required to be disclosed by any Party to its shareholders, investors, legal counsels or financial advisors regarding the transaction contemplated hereunder, provided that such shareholders, investors, legal counsels or financial advisors shall  be bound by the confidentiality obligations similar to those set forth in this Section. Disclosure of any confidential information by the staff members or agencies hired by any Party shall be deemed as disclosure of such confidential information by such Party, which Party shall be held liable for the breach of this Agreement. This Section shall survive the termination of this Agreement for any reason.

	
  

	
3.3

	
双方同意,不论本协议是否变更、解除或终止,本条款将持续有效。

The Parties agree that this Section shall survive changes to, and rescission or termination of, this Agreement.

 

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4.            陈述和保证

Representations and Warranties

	
  

	
4.1

	
甲方陈述和保证如下:

Party A hereby represents and warrants as follows:

	
  

	
4.1.1

	
甲方是按照中国法律合法注册并有效存续的一家公司。

Party A is one company legally registered and validly existing in accordance with the laws of China.

	
  

	
4.1.2

	
甲方签署并履行本协议在其公司权力和营业范围中;已采取必要的公司行为和适当授权并取得第三方和政府部门的同意及批准;并不违反对其有约束力或影响的法律和其他的限制。

Party A's execution and performance of this Agreement is within its corporate capacity and the scope of its business operations; Party A has taken necessary corporate actions and given appropriate authorization and has obtained the consent and approval from third parties and government agencies, and will not violate any restrictions in law or otherwise binding or having an impact on Party A.

	
  

	
4.1.3

	
本协议构成对其合法、有效、有约束力并依本协议之条款对其强制执行的义务。

This Agreement constitutes Party A's legal, valid and binding obligations, enforceable in accordance with its terms.

	
  

	
4.2

	
乙方陈述和保证如下:

Party B hereby represents and warrants as follows:

	
  

	
4.2.1

	
乙方是按照中国法律合法注册且有效存续的公司。

Party B is a company legally registered and validly existing in accordance with the laws of China;

 

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4.2.2

	
乙方签署并履行本协议在其公司权力和营业范围中;已采取必要的公司行为和适当授权并取得第三方或政府的同意和批准;并不违反对其有约束力影响的法律和其他的限制。

Party B's execution and performance of this Agreement is within its corporate capacity and the scope of its business operations; Party B has taken necessary corporate actions and given appropriate authorization and has obtained the consent and approval from third parties and government agencies, and will not violate any restrictions in law or otherwise binding or having an impact on Party B.

	
  

	
4.2.3

	
本协议构成对其合法、有效、有约束力并依本协议之条款对其强制执行的义务。

This Agreement constitutes Party B's legal, valid and binding obligations, and shall be enforceable against it.

5.            生效和有效期

Effectiveness and Term

	
  

	
5.1

	
本协议于文首标明的协议日期签署并同时生效。除非依本协议或双方其他协议的约定而提前终止,本协议有效期为30年,但甲、乙双方应自本协议签署后,每3个月对本协议的内容做一次审查,以决定是否需要根据当时的情况对本协议作出相应修改和补充。

This Agreement is executed on the date first above written and shall take effect as of such date. Unless earlier terminated in accordance with the provisions of this Agreement or relevant agreements separately executed between the Parties, the term of this Agreement shall be 30 years. After the execution of this Agreement, both Parties shall review this Agreement every 3 months to determine whether to amend or supplement the provisions in this Agreement based on the actual circumstances at that time.

 

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5.2

	
协议期满前,经甲方书面确认,本协议可以延期。延期的期限由甲方决定,乙方必须无条件地同意该延期。

The term of this Agreement may be extended if confirmed in writing by Party A prior to the expiration thereof. The extended term shall be determined by Party A, and Party B shall accept such extension unconditionally.

6.            终止

Termination

	
  

	
6.1

	
除非依据本协议续期,本协议于到期之日终止。

Unless renewed in accordance with the relevant terms of this Agreement, this Agreement shall be terminated upon the date of expiration hereof.

	
  

	
6.2

	
本协议有效期内,除非甲方对乙方有重大过失或存在欺诈行为,乙方不得提前终止本协议。尽管如此,甲方可在任何时候通过提前30天向乙方发出书面通知的方式终止本协议。

During the term of this Agreement, unless Party A commits gross negligence, or a fraudulent act, against Party B, Party B shall not terminate this Agreement prior to its expiration date. Nevertheless, Party A shall have the right to terminate this Agreement upon giving 30 days' prior written notice to Party B at any time.

	
  

	
6.3

	
在本协议终止之后,双方在第3、7和8条项下的权利和义务将继续有效。

The rights and obligations of the Parties under Articles 3, 7 and 8 shall survive the termination of this Agreement.

 

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7.            适用法律和争议解决

Governing Law and Resolution of Disputes

	
  

	
7.1

	
本协议的订立、效力、解释、履行、修改和终止以及争议的解决适用中国的法律。

The execution, effectiveness, construction, performance, amendment and termination of this Agreement and the resolution of disputes hereunder shall be governed by the laws of China.

	
  

	
7.2

	
因解释和履行本协议而发生的任何争议,本协议双方应首先通过友好协商的方式加以解决。如果在一方向其他方发出要求协商解决的书面通知后30天之内争议仍然得不到解决,则任何一方均可将有关争议提交给中国国际经济贸易仲裁委员会,由该会按照其仲裁规则仲裁解决。仲裁应在北京进行,使用之语言为中文。仲裁裁决是终局性的,对各方均有约束力。

In the event of any dispute with respect to the construction and performance of this Agreement, the Parties shall first resolve the dispute through friendly negotiations. In the event the Parties fail to reach an agreement on the dispute within 30 days after either Party's request to the other Parties for the resolution of the dispute through negotiations, either Party may submit the relevant dispute to the China International Economic and Trade Arbitration Commission for arbitration, in accordance with its Arbitration Rules. The arbitration shall be conducted in Beijing, and the language used in arbitration shall be Chinese. The arbitration award shall be final and binding on all Parties.

	
  

	
7.3

	
因解释和履行本协议而发生任何争议或任何争议正在进行仲裁时,除争议的事项外,本协议双方仍应继续行使各自在本协议项下的其他权利并履行各自在本协议项下的其他义务。

Upon the occurrence of any dispute arising from the construction and performance of this Agreement or during the pending arbitration of any dispute, except for the matters under dispute, the Parties to this Agreement shall continue to exercise their respective rights under this Agreement and perform their respective obligations under this Agreement.

 

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8.            补偿

Indemnification

就甲方根据本协议向乙方提供的咨询和服务内容所产生或引起的针对甲方的诉讼、请求或其他要求而招致的任何损失、损害、责任或费用都应由乙方补偿给甲方,以使甲方不受损害,除非该损失、损害、责任或费用是因甲方的重大过失或故意而产生的。

Party B shall indemnify and keep Party A from any losses, injuries, obligations or expenses caused by any lawsuit, claims or other demands against Party A arising from or caused by the consultations and services provided by Party A to Party B pursuant to this Agreement, except where such losses, injuries, obligations or expenses arise from the gross negligence or willful misconduct of Party A.

9.            通知

Notices

	
  

	
9.1

	
本协议项下要求或发出的所有通知和其他通信应通过专人递送、挂号邮寄、邮资预付或商业快递服务或传真的方式发到该方下列地址。每一通知还应再以电子邮件送达。该等通知视为有效送达的日期按如下方式确定:

All notices and other communications required or permitted to be given pursuant to this Agreement shall be delivered personally or sent by registered mail, postage prepaid, by a commercial courier service or by facsimile transmission to the address of such Party set forth below.  A confirmation copy of each notice shall also be sent by email.  The dates on which notices shall be deemed to have been effectively given shall be determined as follows:

 

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9.1.1

	
通知如果是以专人递送、快递服务或挂号邮寄、邮资预付发出的,则以于设定为通知的地址在送达或拒收之日为有效送达日。

Notices given by personal delivery, by courier service or by registered mail, postage prepaid, shall be deemed effectively given on the date of arrival or refusal at the address specified for notices.

	
  

	
9.1.2

	
通知如果是以传真发出的,则以成功传送之日为有效送达日(应以自动生成的传送确认信息为证)。

Notices given by facsimile transmission shall be deemed effectively given on the date of successful transmission (as evidenced by an automatically generated confirmation of transmission).

10.           协议的分割性

Severability

如果本协议有任何一条或多条规定根据任何法律或法规在任何方面被裁定为无效、不合法或不可执行,本协议其余规定的有效性、合法性或可执行性不应因此在任何方面受到影响或损害。双方应通过诚意磋商,争取以法律许可以及双方期望的最大限度内有效的规定取代那些无效、不合法或不可执行的规定,而该等有效的规定所产生的经济效果应尽可能与那些无效、不合法或不能强制执行的规定所产生的经济效果相似。

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 law or regulation, the validity, legality or enforceability of the remaining provisions of this Agreement shall not be affected or compromised in any aspect. 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 and 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.

 

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11.           协议的修改、补充

Amendments and Supplements

双方可以书面协议方式对本协议作出修改和补充。经过双方签署的有关本协议的修改协议和补充协议是本协议组成部分,具有与本协议同等的法律效力。

Any amendments and supplements to this Agreement shall be in writing. The amendment agreements and supplementary agreements that have been signed by the Parties and that relate to this Agreement shall be an integral part of this Agreement and shall have the same legal validity as this Agreement.

12.           语言和副本

Language and Counterparts

本协议以中文和英文书就,一式两份,甲、乙双方各持一份,具有同等效力;中英文版本如有冲突,应以中文版为准。

This Agreement is written in both Chinese and English language in two copies, each of Party A and Party B shall have one copy, which has equal legal validity; in case there is any conflict between the Chinese version and the English version, the Chinese version shall prevail.

有鉴于此,双方已使得经其授权的代表于文首所述日期签署了本独家业务合作协议并即生效,以昭信守。

IN WITNESS WHEREOF, the Parties have caused their authorized representatives to execute this Exclusive Business Cooperation Agreement as of the date first above written.

 

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签字页  (The page of Signature)

甲方: 山西势派普商务咨询有限公司

	
Party A:

	
Shanxi Shipaipu Business Consulting Co., Ltd.

签署(公章)

By (seal):     ____________________

公司授权代表或法定代表人(签字)

(The signature of The Representative): ____________________

乙方:山西国联管业集团有限公司

 Party B:  Shanxi Guolian Pipe Industry Group Co., Ltd.

签署(公章)

By (seal):      ____________________

公司授权代表或法定代表人(签字)

(The signature of The Representative): ____________________

[Signature Page to Exclusive Business Cooperation Agrement]

  

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