Document:

EX 4.78

 Exhibit 4.78 
 Confidential treatment has been requested for portions of this exhibit. The copy filed herewith omits the information subject to the confidentiality request. Omissions are designated as ***. A complete
version of this exhibit has been filed separately with the Securities and Exchange Commission. 
 [Translated from the
original Chinese version] 
 CHINA FINANCIAL FUTURES EXCHANGE 

FUTURES INFORMATION LICENSE AGREEMENT 
 SUPPLEMENTAL AGREEMENT 
 PARTY A: CHINA FINANCIAL FUTURES EXCHANGE 

ADDRESS: F6, NO. 1600 CENTURY AVENUE, PUDONG NEW AREA, SHANGHAI 
 POSTAL CODE: 200122 
 PARTY B: FORTUNE SOFTWARE (BEIJING) CO., LTD 

ADDRESS: FLOOR 9, TOWER C, CORPORATE SQUARE, NO.35 FINANCIAL STREET, XICHENG DISTRICT, BEIJING 
 POSTAL CODE: 100033 
 Whereas: 

Party A and Party B has signed CHINA FINANCIAL FUTURES EXCHANGE FUTURES INFORMATION LICENSE AGREEMENT (“Original
Agreement”) on April 16, 2010, both parties here wish to extend the Original Agreement through friendly consultations, and agree on the following supplemental terms based on the Original Agreement: 

 

	 	1.	Amendment of 11.3 of Article 11 in the Original Agreement: change to “After the License attached to the Original Agreement (“Original
License”)expires, the Original License shall automatically be renewed for successive period of 1 year each if both party make no objection in writing and Party B make payments as agreed; if Party B applies to make any amendment to the
Original License other than the term of agreement and to be granted a new License, Party B shall make application in writing to Party A no less than 3 months before the License expires”. 

 

	 	2.	Amendment of 11.4 of Article 11 in the Original Agreement: change to “ Under the circumstances that Party B fails to make application in writing to apply for a new
license, or Party A disagree to grant a new license to Party B, the Original License shall automatically be renewed for successive period of 1 year each if both party make no objection in writing and Party B make payments as agreed; either Party
make objection to the Original License, this Agreement shall terminate accordingly, Party A shall cease providing CFFEX Futures Information to Party B and Party B shall not continue to use or dealing in CFFEX Futures Information”.

 *** - indicates material omitted pursuant to a Confidential Treatment Request and filed separately with the Securities and
Exchange Commission 

	 	3.	Amendment of the first clause of III. Payment Method of Appendix 2 in the Original Agreement: change to “1. Party B shall pay the license fee to Party annually.
Party B shall pay the license fee for the new licensed year of *** to the Bank and Account designated by Party A no less than 15 working days before the start of the new licensed year. 

 

	 	4.	Party A classifies End Users of the 5 Prices Quotations into Full-price User and Free User: 

 

	 	(1)	Full-price User: refers to the user who received Level-2 related services from Party B’s products of the same month and charged by Party B according to the PAYMENT
AGREEMENT of the Party A’s Level-2 information set by Party A. The calculation of Full-price Users includes all End Users except the users recognized by Party A in writing as Free User. 

 

	 	(2)	Free User: refers to the user who received Level-2 related services from Party B’s products of the same month and not charged by Party B as recognized by Party A
in writing. Free Users include the two types below: 

  

	 	a.	Users from China Securities Regulatory Commission and its subsidiaries or other users approved by Party A to be Free Users. 

 

	 	b.	Party B can apply for up to 50 Free User to Party B’s internal employees. 

 

	 	5.	Calculation of End Users of the 5 Prices Quotations 

 Party B which has been licensed the 5 Prices Quotations shall calculate and summing up the number of each of the above type of End Users and submit a signed copy to the information department of Party A
within the first 5 working days of each month. 
 The method of calculation of Users: users with service opened
the month before plus existing users (Users with service opened earlier than the month before and service end within or after the reporting month). 
 The Clause 1 and 2 apply to all vendors licensed by Party A, and the Clause 3 and 4 only apply to vendors licensed of Party A’s 5 Prices Quotations. 

All terms in this Supplemental Agreement, unless otherwise specified, are defined the same as the Original Agreement
signed on April 16, 2010. 
 This Supplemental Agreement and the Original Agreement shall be equally
binding to the Parties. As the Supplemental Agreement is a component of the Original Agreement, except the amendments specified in this Agreement, the terms and clauses in the Original Agreement shall remain fully valid. 

 
 *** - indicates material omitted pursuant to a Confidential Treatment Request
and filed separately with the Securities and Exchange Commission 

 This Agreement is executed in quadruplicate, and each Party hereto shall
hold two copies. This Agreement shall come into effect after the agreement is signed or sealed by both Parties. 
 Party A (Official Seal):
/s/official seal 
 Legal Representative or Authorized Representative (Signature or Seal): 

Date of Agreement: April 16, 2011 
 Party
B (Official Seal): /s/official seal 
 Legal Representative or Authorized Representative (Signature or Seal): 

Date of Agreement: April 16, 2011 
  

*** - indicates material omitted pursuant to a Confidential Treatment Request and filed separately with the Securities and Exchange CommissionEX 4.103

 Exhibit 4.103 
 LABOR CONTRACT 
 PARTY A: CHINA FINANCE ONLINE (BEIJING) CO. LTD. 

PARTY B: ZHAO ZHIWEI 
 DATE: JUNE 21, 2010 
 [Translated from Chinese original] 

This Contract is entered into by the following two parties in Beijing on June 21, 2010: 

PARTY A: 
 China Finance Online (Beijing) Co.
Ltd. (“Party A” hereafter), a company duly organized and registered and validly existing in the People’s Republic of China. 

PARTY B: 
 Zhao Zhiwei (“CEO”
hereafter), citizen of the People’s Republic of China (ID certificate number:[ ], address: [ ]). 
 Pursuant to the Labor
Law of the People’s Republic of China and other applicable laws and regulations and upon consultation in the spirit of equality and free will, Party A and Party B hereby enter into this Contract providing for Party A’s employment of Party
B as a contract-based executive-level manager. 
  

	1.	CHAPTER ONE CONTRACT TERM 

  

	1.1	Party A and Party B agree that the term of this Contract shall be as follows: 

 

	 	(a)	Fixed Term: Three years, from June 21, 2010 to June 20, 2013 

	1.2	If it is the Parties’ intention to continue performance under this Contract, either Party may inform the other of its or his intention to renew the Contract Term
by a 30- day notice prior to the expiration of the Term. 

  

	2.	CHAPTER TWO JOB RESPONSIBILITIES 

  

	2.1	The Company hereby employs Mr. Zhao to serve as the Company’s CEO in consideration of its business needs. The scope and responsibilities of the CEO job
include the following: 

  

	 	(a)	To formulate and implement relevant policies, procedures and strategies to ensure the realization of the Company’s business strategy; 

 

	 	(b)	To establish a strong management system and strict internal control; 

  

	 	(c)	To supervise all managing and financial activities to ensure their compliance with Chinese law and the Company’s policy; 

 

	 	(d)	To be responsible for timely submitting to the Board of Directors accurate reports on team management; 

 

	 	(e)	To establish and direct a mechanism for solving business problems and to timely solve problems that may arise in the company’s business operations;

  

	 	(f)	To establish and direct a mechanism for reducing costs and increasing efficiency; 

 

	 	(g)	To be responsible for the Company’s business planning; 

  

	 	(h)	To participate in business development and strategic planning; 

  

	 	(i)	To supervise and direct the work of the CFO, COO and other senior management officers; 

 

	 	(j)	To carry out strategic acquisition, capital management, etc. pursuant to the requirements of the Board of Directors; 

 

	 	(k)	To provide comments to the Board of Directors on business issues of the Company; 

 

	 	(l)	Other responsibilities stipulated by the Board of Directors. 

  

	2.2	The CEO shall perform his duties diligently and competently pursuant to the requirements for the position. 

 

	3.	CHAPTER THREE COMPENSATIONS AND STOCK OPTIONS 

  

	3.1	The salary of the CEO shall be Eight Hundred and Eighty Thousand Yuan (RMB 880,000) per annum (before tax). 

	3.2	The pay day of the Company will be between the first and the fifth days of each month and, if such days are during a holiday period, then the pay day will be the first
working day after the holiday period. 

  

	3.3	The Company’s employees shall pay personal income taxes pursuant to regulations of the government tax agency, and the Company shall withhold a corresponding amount
from the monthly salary of each employee and pay that amount on behalf of the employee to the relevant tax agency. 

  

	3.4	In addition to what is provided for under the foregoing Article 3.3, the Company shall have the right to make other deductions from the employees’ salaries in
accordance with laws and regulations of the State. 

  

	3.5	Party B’s compensations also include stock options, which will be spelled out in more details by the Compensation Committee of the company.

  

	4.	CHAPTER FOUR REWARDS AND PENALTIES 

  

	4.1	The CEO shall abide by various rules and regulations stipulated by the Company under the law. 

 

	4.2	Without prior written consent of the Company, the CEO shall not accept money, gifts or any other kinds of benefits from any customer, collaborating company or other
related company. 

  

	4.3	The CEO shall serve the Company faithfully and competently and the Company will not permit the CEO to engage in any other job on part-time basis during the term of
employment. 

  

	4.4	The Company shall impose penalties on the CEO pursuant to regulations of the Company, if the CEO violates the Company’s rules or regulations.

  

	5.	CHAPTER FIVE CONFIDENTIALITY AND NON-COMPETITION 

  

	5.1	The CEO shall safeguard the intellectual property rights and secrets of the Company, abide by relevant confidentiality agreements to which the Company is a party
regarding manufacturing technologies, marketing, and unpatented technologies, and shall not engage in any business or activity that competes against the business of the Company. Specific obligations are set forth in a separate Intellectual Property,
Confidentiality and Non-Competition Agreement between the Parties. 

	6.	CHAPTER SIX AMENDMENT, RESCISSION, AND TERMINATION 

  

	6.1	If Party B is derelict of his duties or has committed any gross errors on the job, including without limitation violating the Intellectual Property, Confidentiality and
Non-Competition Agreement between the Parties or laws or regulations of the State, and impairing shareholders’ rights or interests, the Company shall have the right to rescind this Labor Contract immediately and shall only have to pay Party B
the salary for the current month without any other compensation. 

  

	6.2	If Party B seeks to rescind this Contract before the end of the Contract Term for personal reasons, Party B shall notify the Company in writing thirty (30) days in
advance, and the Company shall pay Party B the salary for the current month without any other compensation. 

  

	6.3	During Party B’s term of employment, if the Company deems that the CEO has failed to reach the expected target or achieve the expected results, the Company has the
right to rescind this Labor Contract; however, the Company shall notify Party B in writing thirty (30) days in advance and shall pay Party B three months’ salary as compensation. 

 

	6.4	If the Company proposes any amendment to certain provisions of this Contract due to any change in the objective conditions upon which this Contract is premised, or if
the CEO proposes any amendment for personal reasons, the proposing Party shall notify the other Party in writing thirty (30) days in advance, and the Contract may be amended accordingly after both Parties agree to the proposed amendments upon
consultation. 

  

	6.5	The CEO may not rescind this Contract pursuant to the foregoing Article 6.4 before all his liabilities for breach under this Contract and the Intellectual Property,
Confidentiality and Non-Competition Agreement have been cleared. 

  

	6.6	The employment relationship between the Company and the CEO shall be terminated upon expiration of the Term of this Labor Contract. When this Contract is rescinded or
terminated, Party B shall properly hand over his work to Party A. All office supplies, equipment, facilities and documents that Party B used or handled while working for Party A shall be delivered in good condition to Party A’s takeover person.
Otherwise, Party A shall have the right to refuse to proceed with relevant procedures, hold Party B liable for breach pursuant to the terms of the Contract, and may claim liquidated damages from Party B. 

	6.7	Regardless of the reasons for his leaving the Company, Party B shall not defame or sue the Company, raid the Company for employees, or engage in any business or
activity that competes against the Company’s business except if the Company has committed tax evasion or has otherwise violated the law in its business operations. 

 

	6.8	Upon rescission or termination of this Contract, the Company shall complete the procedures for rescinding or terminating the Labor Contract within the stipulated time
period, unless otherwise agreed upon in this Contract. 

  

	7.	CHAPTER SEVEN LIABILITY FOR BREACH 

  

	7.1	Under either of the following circumstances, the Party in question shall be liable for breach of the Contract: 

 

	 	(a)	The Company violates the provisions of this Contract and unilaterally rescinds this Contract, unless otherwise provided for in this Contract; 

 

	 	(b)	The CEO quits his job without the Company’s consent. 

  

	7.2	Either Party in breach of this Contract shall pay to the other Party liquidated damages. The standard liquidated damages shall be twice the salary Party B actually
received for the month prior to the date of the breach. 

  

	7.3	If the liquidated damages provided for under the foregoing Article 7.2 is not enough to cover the losses of the other Party, then the breaching Party shall compensate
the other Party for the actual losses caused by the breach. 

  

	7.4	The CEO warrants (1) that all the relevant information he provides to the company, including without limitation information about his identification, address,
education, work experiences and professional skills, are true; (2) that, in working for the Company and entering into this Labor Contract with the Company, the CEO has not violated any agreement on confidentiality or non-competition he entered
into with his previous employers or any other company or individual. If the CEO breaches this warranty, the Company has the right to rescind this Contract and demand that the CEO compensate the Company for any losses resulting from the breach.

	8.	CHAPTER EIGHT MISCELLANEOUS 

  

	8.1	The Employee Handbook and other rules and regulations of the Company are part of this Labor Contract. 

 

	8.2	This Contract has two counterparts, one for the Company, one for the employee. This Contract shall become effective upon execution by both Parties. Both counterparts
shall have equal legal effect. 

  

	8.3	If any of the provisions of this Contract conflicts with laws and regulations of the State, the laws and regulations of the State shall prevail.

 IN WITNESS WHEREOF, the Parties have executed this Labor Contract. 

Party A: China Finance Online (Beijing) Co., Ltd. 
 (Seal) 
  

	
	/s/    [COMPANY SEAL]         
	Signature of Authorized representative
	Date: JUNE 21, 2010

 Party B: Zhao Zhiwei 
  

	
	/s/    Zhao Zhiwei        
	Date: JUNE 21, 2010

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