Document:

Exhibit 4.120

Exhibit 4.120

[Translated from the original Chinese version]

PURCHASE OPTION AGREEMENT

among

FORTUNE SOFTWARE (BEIJING) CO., LTD.

ZHENGYAN WU

XUN ZHAO

and

SHANGHAI CHONGZHI CO., LTD.

JANUARY 8, 2010

BEIJING, CHINA

 

 

 

PURCHASE OPTION AGREEMENT

This Purchase Option Agreement (“this Agreement”) is entered into in Beijing, People’s Republic of
China (the “PRC”) on January 8, 2010 by and among:

Party A: Fortune Software (Beijing) Co., Ltd.

Registered address: Room 626, Beijing Aerospace CPMIEC Building, No. 30 Haidian South Road, Haidian District, Beijing

Party B: Zhengyan Wu

Address: 9/F., Tower C, Corporate Square, No.35 Financial Street, Xicheng District, Beijing

ID No.: 62042119830109131X

Party C: Xun Zhao

Address: Room 107, Unit 2, No. 407 Datong Road, Bao Town, Chongming County (Shanghai Bao Town Industrial Zone)

ID No.: 430502197212241538

Party D: Shanghai Chongzhi Co., Ltd.

Address: Room 106, Unit 2, No. 407 Datong Road, Bao Town, Chongming County (Shanghai Bao Town Industrial Zone)

Legal representative: Xun Zhao

WHEREAS,

(1) Party A is a company with limited liability duly organized and validly existing in Beijing,
provides certain technical support, strategic consulting and other services to Party D, and
currently is a major business partner of Party D;

(2) To finance the investment by Party B and Party C in Party D, Party A has entered into loan
agreements with Party B and Party C on January 8, 2010, providing Party B and Party C with loans of
RMB 550,000 and RMB 450,000 separately. Pursuant to the Loan Agreement, Party B and Party C have
invested the full amount of the loans in Party D’s registered capital, and each holds 55% and 45%
equity interests in Party D, respectively; and

(3) To guarantee the payment obligations of Party D to Party A pursuant to certain contractual
agreements, Party B and Party C have entered into a share pledge agreement (hereafter the “Share
Pledge Agreement”) with Party A on January 8, 2010, pledging Party B’s and Party C’s respective
Share Equity in Party D to Party A; and

(4) The Parties hereto wish to grant Party A the exclusive purchase option to acquire, at any time
upon satisfaction of the requirements under the PRC law, the entire or a portion of Party D’s share
equity/assets owned by Party B and/or Party C.

NOW AND THEREFORE, in accordance with the principle of sincere cooperation, mutual benefit and
joint development and after friendly negotiations, the Parties hereby enter into the following
agreements pursuant to the provisions of relevant laws and regulations of the PRC.

 

 

 

ARTICLE 1 DEFINITIONS

The terms used in this Agreement shall have the meanings set forth below:

1.1 “This Agreement” means this Purchase Option Agreement and all appendices thereto, including
written instruments as originally executed and as may from time to time be amended or supplemented
by the Parties hereto through written agreements.

1.2 “The PRC” means, for the purpose of this Agreement, the People’s Republic of China, excluding
Hong Kong, Taiwan and Macao.

1.3 “Date” means the year, month and day. In this Agreement, “within” or “no later than”, when used
before a year, month or day, shall always include the relevant year, month or day.

ARTICLE 2 THE GRANT AND EXERCISE OF PURCHASE OPTION

2.1 The Parties hereto agree that Party A shall be granted an exclusive purchase option to acquire,
at any time upon satisfaction of the requirements under applicable laws and conditions as agreed in
this Agreement (including, without limitation, as under applicable laws, when Party B and/or Party
C cease to be Party D’s directors or employees, or Party B and/or Party C propose to transfer their
share equity in Party D to any party other than the existing shareholders of Party D), the entire
or a portion of Party D’s share equity owned by Party B and/or Party C, or the entire or portion of
the assets owned by Party D (“Purchase Option”). The Purchase Option granted hereby shall be
irrevocable during the term of this Agreement and may be exercised by Party A or any eligible
entity designated by Party A.

2.2 Party A may exercise the aforesaid purchase option by delivering a written notice to any of
Party B, Party C and Party D (the “Exercise Notice”).

2.3 Within thirty (30) days of the receipt of the Exercise Notice, Party B and/or Party C (as the
case may be) shall execute a share/asset transfer contract and other documents (collectively, the
“Transfer Documents”) necessary to effect the respective transfer of share equity or assets with
Party A (or any eligible party designated by Party A).

2.4 When applicable laws permit the exercise of the purchase option provided hereunder and Party A
elects to exercise such purchase option, Party B, Party C and Party D shall unconditionally assist
Party A to obtain all approvals, permits, registrations, filings and other procedures necessary to
effect the transfer of relevant share equity or assets.

ARTICLE 3 REPRESENTATIONS AND WARRANTIES

Each party hereto represents to the other parties that:

3.1 Each party hereto represents to the other parties that: (1) it has all the necessary rights,
powers and authorizations to enter into this Agreement and perform its duties and obligations
hereunder; and (2) the execution or performance of this Agreement shall not violate any significant
contract or agreement to which it is a party or by which it or its assets are bounded.

3.2 Party B and Party C hereto represent to Party A that: (1).they are both legally registered
shareholders of party D and have paid Party D the full amount of their respective portions of Party
D’s registered capital required under Chinese law; (2) neither Party B nor Party C has created any
mortgage, pledge, secured interests or other form of debt liabilities over the Share Equity other
than the Pledge created under the Share Pledge Agreement; and (3) neither Party B nor Party C has
sold or will sell to any third party its Share Equity in Party D.

3.3 Party D hereto represents to Party A that: (1) it is a limited liability company duly
registered and validly existing under the PRC law; and (2) its business operations are in
compliance with applicable laws of the PRC in all material respect.

 

 

 

ARTICLE 4 EXERCISE PRICE

When it is permitted by applicable laws, Party A (or any eligible party designated by Party A)
shall have the right to acquire, at any time, all of Party D’s assets or its share equity owned by
Party B and Party C, at a price equal to the sum of the principles of the loans from Party A to
Party B and Party C under the Loan Agreement (RMB1,000,000). If Party A (or any eligible party
designated by Party A) elects to purchase a portion of Party D’s share equity or assets, then the
exercise price for such purpose shall be adjusted accordingly based on the percentage of such share
equity or assets to be purchased over the total share equity or assets. When Party A (or a
qualified entity designated by party A) is to acquire all or a portion of Party D’s equity share or
assets from Party B and Party C pursuant to this Agreement, Party A has the right to substitute the
principle amounts Party B and Party C respectively owe Party A under the Loan Agreement for the
purchase prices payable to Party B and Party C, respectively. When acquiring share equity or assets
from Party B, Party C, or Party D pursuant to this Agreement, Party A shall pay an actual exercise
price based on the exercise price under applicable Chinese laws or requirements of relevant
authorities, if the exercise price under applicable laws or requirements of relevant authorities is
higher than the exercise price under this Agreement.

ARTICLE 5 COVENANTS

The Parties further agree as follows:

5.1 Before Party A (or any eligible party designated by Party A) has acquired all the
equity/assets of Party D by exercising the purchase option provided hereunder, Party D shall not:

5.1.1 sell, assign, mortgage or otherwise dispose of, or create any encumbrance on, any of its
assets, operations or any legal or beneficiary interests with respect to its revenues (unless such
sale, assignment, mortgage, disposal or encumbrance is relating to its daily operation or has been
disclosed to and agreed by Party A in writing);

5.1.2 enter into any transaction which may materially affect its assets, liability, operation,
equity or other legal rights (unless such transaction is relating to its daily operation or has
been disclosed to and agreed by Party A in writing); and

5.1.3 distribute any dividend to its shareholders in any manner.

5.2 Before Party A (or any eligible party designated by Party A) has acquired all the
equity/assets of Party D by exercising the purchase option provided hereunder, Party B and/or Party
C shall not individually or collectively:

5.2.1 supplement, alter or amend the articles of association of Party D in any manner to the
extent that such supplement, alteration or amendment may have a material effect on Party D’s
assets, liability, operation, equity or other legal rights (except for pro rata increase of
registered capital mandated by applicable laws);

5.2.2 cause Party D enter into any transaction to the extent such transaction may have a
material effect on Party D’s assets, liability, operation, equity or other legal rights (unless
such transaction is relating to Party D’s daily operation or has been disclosed to and agreed by
Party A in writing); and

5.2.3 cause Party D’s board of directors adopt any resolution on distributing dividends to its
shareholders.

5.3 After the execution of this Agreement, Party B and Party C (the “Principals”) shall each
execute and deliver a proxy to the agents (the “Agents”) to the satisfaction of Party A to grant
the Agents all voting rights as shareholders of Party D, including without limitations the right to
appoint and elect Party D’s directors, general manager and other senior officers in Party D’s
shareholders meetings. The initial term of such proxies shall be twenty (20) years, and the initial
term shall be renewed automatically upon expiry of the proxies unless Party A notifies the
Principals in writing thirty (30) days prior to the expiry date to terminate the proxies. Such
proxies shall be based on the conditions that the Agents are Chinese citizens employed by Party A
and shall be subject to Party A’s consent. Once the Agents cease to be employed by
Party A or Party A delivers a written notice to the Principals requesting the proxies to be
terminated, the Principals shall revoke the relevant proxy immediately and grant the same rights as
provided in the proxies to other PRC citizens employed and designed by Party A. The Agents have
agreed to act with due care and diligence in exercising their rights under the proxies and
indemnify and keep the Principals harmless from any loss or damages caused by any action in
connection with exercise of their rights under the proxies (unless any loss or damage is caused by
the Principals’ own intentional or material negligent actions).

 

 

 

5.4 Party B and Party C shall, to the extent permitted by applicable laws, cause Party D’s
operational term to be extended to equal the operational term of Party A.

5.5 Party A shall provide or arrange other parties to provide financings to Party D to the extent
Party D needs such financing to finance its operation. In the event that Party D is unable to repay
such financing due to its losses, Party A shall waive or cause the relevant parties to waive all
recourse against Party D with respect to such financing.

5.6 To the extent Party B and/or Party C are subject to any legal or economic liabilities to any
institution or individual other than Party A as a result of performing their obligations under this
Agreement or any other agreements between them and Party A, Party A shall provide all support
necessary to enable Party B and/or Party C to duly perform their obligations under this Agreement
and any other agreements and to hold Party B and/or Party C harmless against any loss or damage
caused by their performance of obligations under such agreements.

ARTICLE 6 CONFIDENTIALITY

Each Party shall keep confidential all the content of this Agreement. Without the prior
consent of all Parties, no Party shall disclose any content of this Agreement to any other party or
make any public announcements with respect to any content of this Agreement. Notwithstanding the
forgoing provisions of this Article 6, the following disclosure shall be permitted: (i) disclosure
made pursuant to any applicable laws or any rules of any stock exchange; (ii) disclosure of
information which has become public information other than due to any breach by the disclosing
party; (iii) disclosure to any Party’s shareholders, legal counsel, accountants, financial advisors
or other professional advisors, or (iv) disclosure to any potential purchasers of a Party or its
shareholders’ equity/assets, its other investors, debts or equity financing providers, provided
that the receiving party of confidential information has agreed to keep the relevant information
confidential (such disclosure shall be subject to the consent of Party A in the event that Party A
is not the potential purchaser).

ARTICLE 7 APPLICABLE LAW AND EVENTS OF DEFAULT

The execution, effectiveness, interpretation, performance and dispute resolution of this
Agreement shall be governed by the laws of the PRC.

Any violation of any provision hereof, incomplete performance of any obligation provided
hereunder, any misrepresentation made hereunder, material concealment or omission of any material
fact or failure to perform any covenants provided hereunder by any Party shall constitute an event
of default. The defaulting Party shall assume all the legal liabilities pursuant to the applicable
laws.

ARTICLE 8 DISPUTE RESOLUTION

8.1 Any dispute arising from the performance of this Agreement shall be first subject to the
Parties’ friendly consultations. In the event any dispute cannot be solved by friendly
consultations, the relevant dispute shall be submitted for arbitration;

8.2 The arbitration shall be administered by the Beijing branch of China International Economic and
Trade Arbitration Commission in accordance with the then effective arbitration rules of the
Commission.

8.3 The arbitration award shall be final and binding on the Parties. The costs of the arbitration
(including but not limited to arbitration fee and attorney fee) shall be borne by the losing
party, unless the arbitration award stipulates otherwise.

 

 

 

ARTICLE 9 EFFECTIVENESS

This Agreement shall be effective upon the execution hereof by all Parties hereto and shall
remain effective thereafter.

This Agreement may not be terminated without the unanimous consent of all the Parties except
Party A may, by giving a thirty (30) days prior notice to the other Parties hereto, terminate this
Agreement.

ARTICLE 10 AMENDMENT

All Parties hereto shall fulfill their respective obligations hereunder. No amendment to this
Agreement shall be effective unless such amendment has been made in written form and agreed by all
of the Parties and Party A and Party D have obtained necessary authorization and approvals with
respect to such amendment.

ARTICLE 11 COUNTERPARTS

This Agreement is executed in four (4) counterparts with same legal effect. Party A, Party B,
Party C, and Party D shall each hold one counterpart.

ARTICLE 12 MISCELLANEOUS

12.1 Party B and Party C’s obligations, covenants and liabilities to Party A hereunder are joint
and several, and Party B and Party C shall assume joint and several liabilities with respect to
such obligations, covenants and liabilities. With respect to Party A, a default by Party B shall
automatically constitute a default by Party C, and vice versa.

12.2 The title and headings contained in this Agreement are for convenience of reference only and
shall not in any way affect the meaning or interpretation of any provision of this Agreement.

12.3 The Parties may enter into supplementary agreements to address any issue not covered by this
Agreement. The supplementary agreements so entered shall be an appendix hereto and shall have the
same legal effect as this Agreement.

[The remaining of this page is intentionally left blank]

 

 

 

[Execution page only]

Party A: Fortune Software (Beijing ) Co. Limited

Seal:

Authorized Representative (Signature):

Party B: Zhengyan Wu

(Signature):

Party C: Xun Zhao

(Signature):

Party D: Shanghai Chongzhi Co., Ltd.

Seal:

Authorized Representative (Signature):Exhibit 4.121

Exhibit 4.121

[Translated from the original Chinese version]

SHARE PLEDGE CONTRACT

This Share Pledge Contract (this “Contract”) is executed by and among the following parties on
January 8, 2010.

Pledgor A: Zhengyan Wu

Address: 9/F., Tower C, Corporate Square, No.35 Financial Street, Xicheng District, Beijing

ID No.: 62042119830109131X

Pledgor B: Xun Zhao

Address: Room 106, Unit 2, No. 407 Datong Road, Bao Town, Chongming County (Shanghai Bao Town
Industrial Zone)

ID No.: 430502197212241538

Pledgee: Fortune Software (Beijing) Co., Ltd.

Registered Address: Room 626, Beijing Aerospace CPMIEC Building, No. 30 Haidian South Road, Haidian
District, Beijing

Unless otherwise provided hereunder, Pledgor A and Pledgor B shall hereinafter be referred to
collectively as the “Pledgors”.

WHEREAS:

1. Pledgors Zhengyan Wu and Xun Zhao are both citizens of the People’s Republic of China (the
“PRC”), and each holds 55% and 45% equity interests in Shanghai Chongzhi Co., Ltd. (“CFO
Chongzhi”), respectively. CFO Chongzhi is a company registered in Shanghai, PRC, engaged in the
business of network operation.

2. Pledgee is a wholly foreign-own enterprise registered in Beijing, PRC, with approvals from the
relevant PRC authorities to engage in the business of, among others, internet technology consulting
and technology services. Pledgee and CFO Chongzhi have entered into the agreements (collectively,
the “Service Agreements”).

3. To secure the fees payable under the Service Agreements (the “Service Fee”) from CFO Chongzhi to
Pledgee, Pledgors hereby pledge their respective interests in CFO Chongzhi to Pledgee.

Pursuant to the provisions of the Service Agreements, Pledgors and Pledgee have agreed to enter
into this Contract according to the following terms and conditions.

 

 

 

1. DEFINITIONS

Unless otherwise provided herein, the terms below shall have the following meanings:

1.1 “Pledge Rights” means the rights set forth in Article 2 of this Contract.

1.2 “Share Equity” means the equity interest held by Pledgors in CFO Chongzhi.

1.3 “Pledged Property” means the share interest and the dividends deriving therefrom pledged by
Pledgors to Pledgee under this Contract.

1.4 “Secured Indebtedness” means all the amounts payable by CFO Chongzhi to Pledgee under the
Service Agreements, including the Service Fee and interests accrued thereon, liquidated damages,
compensations, costs and expenses incurred by Pledgee in connection with collection of such fees,
interest, damages and compensations, and losses incurred to Pledgee as a result of any default by
CFO Chongzhi and other expenses payable under the Service Agreements.

1.5 “Term of Pledge” means the term stated in Section 4.1 of this Contract.

1.6 “Service Agreements” means all the agreements entered into by CFO Chongzhi and Pledgee,
including but not limited to Strategy Consulting Services Agreement and Technical Support Agreement
and Operation Agreement.

1.7 “Event of Default” means any event set forth in Article 8 of this Contract.

1.8 “Notice of Default” means the notice issued by Pledgee in accordance with this Contract
declaring an Event of Default.

2. PLEDGE RIGHTS

2.1 Pledgors hereby pledge to Pledgee all of their Share Equity in CFO Chongzhi to secure the
Secured Indebtedness of CFO Chongzhi. Pledge Rights shall mean Pledgee’s priority right in
receiving compensation from the sale or auction proceeds of the Pledged Property (including the
dividends generated by the Share Equity during the term of this Contract).

3. SCOPE OF PLEDGE SECURITY

3.1
The scope of pledge security hereunder shall cover all of the Secured Indebtedness, including
all the Service Fee and interest accrued thereon, liquidated damages, compensation, costs and
expenses incurred by Pledgee to collect such fee, interests, damages and compensation, and losses
incurred to Pledgee as a result of any default by CFO Chongzhi and all other expenses payable under
the Service Agreements.

 

 

 

4. TERM OF PLEDGE AND REGISTRATION

4.1 This Contract shall become effective on the date when the Pledge hereunder is registered in the
Shareholders’ List of CFO Chongzhi. The term of the Pledge shall be the same as the term of the
Strategy Consulting Services Agreement (should the term of the Strategy Consulting Services
Agreement be extended, the term of the Pledge shall be extended accordingly). Pledgors shall cause
CFO Chongzhi to register the Pledge hereunder in its Shareholders’ List within three (3) days after
this Contract is executed.

4.2 In the event that any change of the matters registered in CFO Chongzhi’s Shareholders’ List is
required as a result of change of any matters relating to the Pledge, Pledgors and Pledgee shall
cause the matters registered in CFO Chongzhi’s Shareholders’ List be changed accordingly within
fifteen (15) days after such change takes place.

5. CUSTODY OF CERTIFICATES

Pledgors shall deliver to Pledgee the capital contribution certificates with respect to their
interest in CFO Chongzhi and CFO Chongzhi’s Shareholders’ List within seven (7) days after this
Contract is executed.

6. REPRESENTATIONS AND WARRANTIES OF PLEDGORS

6.1 Pledgors are legally registered shareholders of CFO Chongzhi and have paid CFO Chongzhi the
full amount of their respective portions of CFO Chongzhi’s registered capital required under
Chinese law. Pledgors neither have sold nor will sell to any third party their Share Equity in CFO
Chongzhi.

6.2 Pledgors fully understand the contents of the Service Agreements and have entered into this
Contract voluntarily. The signatories signing this Contract on behalf of Pledgors have the rights
and authorizations to do so.

6.3 All documents, materials and certificates provided by Pledgors to Pledgee hereunder are
correct, true, complete and valid.

6.4 When Pledgee exercises its right hereunder in accordance with this Contract, there shall be no
intervention from any other parties.

6.5 Pledgee shall have the right to dispose of and transfer the Pledge Rights in accordance with
the provisions hereof.

6.6 Pledgors have not created any mortgage, pledge, secured interests or other form of debt liabilities over the Share Equity other than the Pledge created hereunder.

 

 

 

7. COVENANTS OF PLEDGORS

7.1 For the benefit of Pledgee, Pledgors hereby make the following covenants, during the term of
this Contract:

7.1.1 without the prior written consent of Pledgee, Pledgors shall not transfer the Share
Equity, or create or consent to any creation of any pledge over, the Share Equity that may affect
Pledgee’s rights and interests hereunder, or cause the shareholders’ meetings of CFO Chongzhi to
adopt any resolution on sale, transfer, pledge or in other manner disposal of the Share Equity or
approving the creation of any other security interest on the Share Equity, provided that the Share
Equity may be transferred to Pledgee or any party designated by Pledgee according to Purchase
Option Agreement dated June 2, 2009 among Pledgors, Pledgee and CFO Chongzhi or Pledgors may
transfer the Share Equity to each other to the extent such transfer will not effect the validity of
pledge (the transferring Pledgor shall deliver a prior notice to Pledgee before making the
transfer).

7.1.2 Pledgors shall comply with all laws and regulations applicable to the Pledge. Within
five (5) days of receipt of any notice, order or recommendation issued or promulgated by competent
government authorities relating to the Pledge, Pledgors shall deliver such notice, order or
recommendation to Pledgee, and shall comply with the same, or make objections or statements with
respect to the same upon Pledgee’s reasonable request or with Pledgee’s consent.

7.1.3 Pledgors shall promptly notify Pledgee of any event or notice received by Pledgors that
may have a material effect on Pledgee’s rights in the Pledged Property or any portion thereof, as
well as promptly notify Pledgee of any change to any warranty or obligation of Pledgors hereunder,
or any event or notice received by Pledgors that may have a material effect to any warranty or
obligation of the Pledgors hereunder.

7.2 Pledgors warrant that Pledgee’s exercise of the Pledge Rights as pledgee pursuant to this
Contract shall not be interrupted or impaired by Pledgors or any successors or representatives of
Pledgors or any other parties through any legal proceedings.

7.3 Pledgors hereby warrant to Pledgee that, to protect or perfect the security interest created by
this Contract to secure the Secured Indebtedness, Pledgors will execute in good faith, and cause
other parties who have an interest in the Pledge Rights to execute, all certificates of rights and
instruments as requested by Pledgee, and/or take any action, and cause other parties who have an
interest in the Pledge Rights to take any action, as requested by Pledgee, and facilitate the
exercise by Pledgee of its rights and authority provided hereunder, and execute all amendment
documents relating to certificates of Share Equity with Pledgee or its designated person(s)
(natural persons/legal persons), and shall provide Pledgee, within a reasonable period of time, with all
notices, orders and decisions regarding the Pledge Rights requested by Pledgee. Pledgors hereby
warrant to Pledgee that, for Pledgee’s benefit, Pledgors shall comply with all warranties,
covenants, agreements, representations and conditions provided hereunder. In the event that
Pledgors fail to comply with or perform any warranties, covenants, agreements, representations and
conditions, Pledgors shall indemnify Pledgee for all of its losses resulting therefrom.

 

 

 

8. EVENTS OF DEFAULT

8.1 Each of the following events shall constitute an Event of Default:

8.1.1 CFO Chongzhi fails to pay in full any Secured Indebtedness on time;

8.1.2 Any representation or warranty made by Pledgors under Article 6 of this Contract is
misleading or untrue, or Pledgors have violated any of the warranties in Article 6 of this
Contract;

8.1.3 Pledgors breach any of the covenants in Article 7 of this Contract;

8.1.4 Pledgors breach any other provisions of this Contract;

8.1.5 Pledgors give up all or any part of the Pledged Property, or transfer all or any part of
the Pledged Property without the written consent of Pledgee (except the transfers permitted
hereunder);

8.1.6 Any of Pledgors’ loans, guarantees, indemnification, commitment or other indebtedness to
any third party (1) have been subject to a demand of early repayment due to an event of default; or
(2) have become due but failed to be repaid in a timely manner, thus leading Pledgee to believe
that Pledgors’ ability to perform their obligations under this Contract has been impaired;

8.1.7 Pledgors are unable to repay any other material debts;

8.1.8 Any applicable laws have rendered this Contract illegal or made it impossible for
Pledgors to continue to perform their obligations hereunder;

8.1.9 All approvals, licenses, permits or authorizations from government agencies that make
this Contract enforceable, legal and effective have been withdrawn, terminated, invalidated or
substantively revised;

8.1.10 Any adverse change has taken place to any properties owned by Pledgors, which leads
Pledgee to believe that Pledgors’ ability to perform their obligations under this Contract has been
affected;

 

 

 

8.1.11 The successor or trustee of CFO Chongzhi is only able to partially perform or refuses
to perform the payment obligations under the Service Agreements;

8.1.12 Any breach of other provisions of this Contract resulting from any action or omission
by Pledgors; and

8.1.13 Any other event whereby Pledgee is unable to exercise its right with respect to the
Pledge hereunder pursuant to relevant laws.

8.2 Pledgors shall immediately notify Pledgee in writing of any event set forth in Section 8.1 or
any circumstance which many lead to any such event as soon as Pledgors know or are aware of such
event.

8.3 Unless an Event of Default set forth in this Section 8.1 has been resolved to the satisfaction
of Pledgee, Pledgee may, upon the occurrence of an Event of Default or at any time thereafter,
issue a Notice of Default to Pledgors in writing and demand that Pledgors to immediately pay all
the amounts due under the Service Agreements and all other amounts payable due to Pledgee, or
exercise Pledge Rights in accordance with the provisions of this Contract.

9. EXERCISE OF PLEDGE RIGHTS

9.1 Prior to the full payment of Secured Indebtedness under the Service Agreements, Pledgors shall
not assign, or in any manner dispose of, the Pledged Property without Pledgee’s written consent.

9.2 Pledgee shall issue a Notice of Default to Pledgors when exercising the Pledge Rights.

9.3 Subject to the provisions of Section 8.3, Pledgee may exercise the right to dispose of the
Pledged Property concurrently with the issuance of the Notice of Default in accordance with Section
8.3 or at any time after the issuance of the Notice of Default.

9.4 Pledgee shall have the right to dispose of the Pledged Property under this Contract in part or
in whole in accordance with legal procedures (including but not limited to negotiated transfer,
auction or sale of the Pledged Property) and receive a priority payment from the proceeds of the
Pledged Property until all of the Secured Indebtedness have been fully repaid.

9.5 When Pledgee exercises its rights under the Pledge in accordance with this Contract, Pledgors
shall not create any impediment, and shall provide necessary assistance to enable Pledgee to
exercise the Pledge Rights.

 

 

 

10. ASSIGNMENT

10.1 Without Pledgee’s prior consent, Pledgors cannot give away or assign to any party their rights
and obligations under this Contract.

10.2 This Contract shall be valid and binding on each Pledgor and their respective successors.

10.3 Pledgee may assign any and all of its rights and obligations under the Service Agreements to
its designated person(s) (natural/legal persons) at any time, in which case the assignees shall
have the rights and obligations of Pledgee under this Contract, as if it were a party to this
Contract.

10.4 In the event that the Pledgee changes due to any transfer permitted hereunder, the new parties
to the Pledge shall execute a new pledge agreement.

11. TERMINATION

This Contract shall be terminated when the Secured Indebtedness has been fully repaid and CFO
Chongzhi is no longer obliged to undertake any obligations under the Service Agreements. In this
circumstance, Pledgee shall cancel or terminate this Contract as soon as reasonably practicable.

12. HANDLING FEES AND OTHER EXPENSES

12.1 All fees and out of pocket expenses relating to this Contract, including but not limited to
legal fees, cost of documentation, stamp duty and any other taxes and fees, shall be borne by
Pledgors. In the event that the law requires Pledgee to pay any taxes, Pledgors shall reimburse
Pledgee for such taxes paid by Pledgee.

12.2 In the event that Pledgors fail to pay any taxes or fees in accordance with the provisions of
this Contract, or due to any other reasons, Pledgee has to recover such taxes and fees payable by
Pledgors through any means or in any manner, all costs and expenses (including but not limited to
all the taxes, handling fees, management fees, cost of litigation, attorney’s fees and insurance
premiums) resulting therefrom shall be borne by Pledgors.

 

 

 

13. FORCE MAJEURE

13.1 In the event that the performance of this Contract is delayed or impeded by “an event of force
majeure”, the party affected by such event of force majeure shall not be liable for any liability
hereunder with respect to the part of performance being delayed or impeded. “An event of force
majeure” means any event beyond the reasonable control of the effected party and cannot be avoided
even if the affected party has exercised reasonable care, which include but not limited to government actions, acts of God, fire,
explosions, geographic changes, storms, flood, earthquakes, tides, lightning and war.
Notwithstanding the foregoing, a lack of credit, funds or financing shall not be deemed as a
circumstance beyond the reasonable control of an effected party. The party affected by “an event of
force majeure” and seeking to relieve the performance liability under this Contract or any
provisions thereof shall notify the other party of its intention for seeking such relief and the
measures it will take to reduce the impact of the force majeure as soon as possible.

13.2 The party affected by force majeure shall not be liable for any liability with respect to the
part of performance being delayed or impeded if the effected party has taken reasonable efforts to
perform this Contract. As soon as the course of such relief is eliminated, the Parties shall use
their best efforts to resume the performance of this Contract.

14. RESOLUTION OF DISPUTES

14.1 This Contract shall be governed by and construed according to the laws of PRC.

14.2 In the event of any dispute with respect to the construction and performance of the provisions
of this Contract, the parties shall first try to resolve the dispute through friendly
consultations. Upon failure of such consultations, any party may submit the relevant disputes to
the China International Economic and Trade Arbitration Commission for arbitration in accordance
with its then effective arbitration rules. The arbitration shall be administered in Beijing and the
language used for the arbitration shall be Chinese. The arbitration award shall be final and
binding on all parties.

15. NOTICES

Notices sent by the parties hereto shall be in writing (“in writing” shall include facsimiles and
telexes). If sent by hand, such notice shall be deemed to have been delivered upon actual delivery;
if sent by telex or facsimile, such notice shall be deemed to have been delivered at the time of
transmission. If the date of transmission is not a business day or if transmission is after working
hours, then the next business day shall be deemed as the date of delivery. The address of delivery
shall be the addresses of the Parties stated on the first page of this Contract or addresses
notified in writing at any time after this Contract is executed.

16. AMENDMENTS, TERMINATION AND CONSTRUCTION

16.1 No amendment to this Contract shall be effective unless such amendment has been agreed by all
of the Parties and Party A and Party D have obtained necessary authorization and approvals with
respect to such amendment (including the approval that Party A must obtain from the audit
committee or other independent body established according to the Sarbanes-Oxley Act and the NASDAQ Rules under the board of directors
of its overseas holding company — China Finance Online Co., Limited).

 

 

 

16.2 The provisions to this Contract are severable from each other. The invalidity of any
provision hereof shall not effect the validity or enforceability of any other provision hereof.

17. EFFECTIVENESS AND OTHERS

17.1 This Contract shall take effect upon satisfaction of the following conditions:

(1) This Contract has been executed by all parties hereto; and

(2) Pledgors have recorded the Pledge hereunder in the Shareholders’ List of CFO Chongzhi.

17.2 This Contract is written in Chinese in three counterparts. Each of the Parties shall hold one
counterpart.

IN WITNESS WHEREOF, the parties have caused this Contract executed by their duly authorized
representatives in Beijing on the date first above written.

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

 

 

 

[execution page only]

Pledgor A: Zhengyan Wu

	 	 	 
	 

Signature:

	 	 

Pledgor B: Xun Zhao

	 	 	 
	 

Signature:

	 	 

Pledgee: Fortune Software (Beijing) Co., Ltd. (seal)

Authorized representative:                                          (signature)

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