Document:

EX-4.25

Exhibit 4.25

(TRANSLATION)

Confidential

EXCLUSIVE CALL OPTION AGREEMENT

REGARDING

SHANGHAI JINYOU NETWORK & TECHNOLOGY CO., LTD.

Among:

Yang Zhuojun

TAN YIHUI

SHANGHAI JINYOU NETWORK & TECHNOLOGY CO., LTD.

And

T2CN INFORMATION TECHNOLOGY (SHANGHAI) CO., LTD.

Dated: 15 June 2009

 

 

 

EXCLUSIVE CALL OPTION AGREEMENT

This exclusive call option agreement (the “Agreement”) is made on 15 June 2009 in Shanghai,
People’s Republic of China (“PRC”), by and among:

	(1)	 	Yang Zhuojun, a PRC citizen (ID No.310104197203122418);

	 
	(2)	 	Tan Yihui, a PRC citizen (ID No. 310227197811111835);

(Yang Zhuojun and Tan Yihui are hereinafter referred to as “Existing Shareholder” individually, or
“Existing Shareholders” collectively)

	(3)	 	Shanghai Jinyou Network & Technology Co., Ltd. (hereinafter “Target Company”). Contact
address: Unit 903, Block E, 5383 Donglong Avenue, Pudong New Area, Shanghai; and

	(4)	 	T2CN Information Technology (Shanghai) Co., Ltd. (hereinafter “WFOE”). Contact address: 12F,
418, Gui Ping Road, Shanghai.

(The parties listed above are hereinafter referred to individually as “Party” and collectively as
“Parties”.)

WHEREAS:

	(1)	 	The Existing Shareholders are the registered shareholders of the Target Company, and hold the
entire capital stock of the Target Company. The amount and percentage of the shareholding
held by each of the Existing Shareholders in the Target Company, as of the date of this
Agreement, are set out in Appendix 1.

	(2)	 	To the extent permitted by the PRC Laws, the Existing Shareholders intend to transfer, and
WFOE intends to accept, their respective shareholding in the Target Company entirely to WFOE
and/or such any other persons or entities designated by WFOE.

 

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	(3)	 	The Existing Shareholders agree to jointly grant WFOE an irrevocable call option (hereinafter
“Call Option”) to realize the transfer of the shares
as mentioned above. Pursuant to the Call Option, the Existing Shareholders shall, at the
request of WFOE, transfer the Optioned Shares (as defined below), to the extent permitted by
the PRC Laws, to WFOE and/or such any other persons or entities designated by WFOE in
accordance with this Agreement.

	(4)	 	The Target Company agrees to the grant by the Existing Shareholders of the Call Option in
favor of WFOE under this Agreement.

The Parties hereby agree as follows:

	1.	 	Definitions

	1.1	 	In this Agreement, the following terms have the following meanings unless otherwise required
by the context:

“Attorney” shall have the same meaning as defined in Clause 3.7 of this Agreement.

“Operating License” means any approval, license, filing, and registration etc. the Target
Company is required to possess in order to legally and effectively conduct the business of
Internet communication and on-line games, including but not limited to the Corporate
Business License, Tax Registration Certificate, Operation Permission Certificate for
Value-added Telecommunication Services for the conduct of Internet communication service
business, Operation Permission Certificate for Internet Culture Business for the business
of on-line games products and services, and such other related permits or licenses as
required by the PRC Laws from time to time.

“Confidential Information” shall have the same meaning as defined in Clause 8.1 of this
Agreement.

“Defaulting Party” shall have the same meaning as defined in Clause 11.1 of this Agreement.

“Event of Default” shall have the same meaning as defined in Clause
11.1 of this Agreement.

 

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“Notice of Exercise” shall have the same meaning as defined in Clause 3.5 of this
Agreement.

“Registered Capital of Target Company” means the Target Company’s registered capital of
10,000,000 RMB as of the date of this Agreement, and any capital increase subsequently made
during the term of this Agreement.

“Assets” means any and all assets, physical and intangible, which the Target Company owns
or has the right to use during the term of this Agreement, including but not limited to
real estate, chattels, and intellectual properties, including trademarks, copyrights,
patents, proprietary know-how, domain names, and software licenses etc..

“Material Agreement” means any agreement to which the Target Company is a party, and which
materially affects the Target Company’s business or assets, including but not limited to
the Exclusive Technical Service and Consultancy Agreement and the Exclusive Business
Consultancy Agreement, both entered into by and between the Target Company and WFOE.

“Non-defaulting Party” shall have the same meaning as defined in Clause 11.1 of this
Agreement.

“Optioned Shares” means the entire shareholding held by the Existing Shareholders in the
Target Company in respect of each Existing Shareholder, or 100% of the Registered Capital
of Target Company in respect of the Existing Shareholders.

“PRC Laws” mean the laws, regulations, statutory rules, local ordinance, judicial
interpretations and any other regulatory documents of a binding nature of the People’s
Republic of China, effective at the relevant times.

“Power of Attorney” shall have the same meaning as defined in Clause
3.7 of this Agreement.

 

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“Rights” shall have the same meaning as defined in Clause 12.5 of this Agreement.

“Shareholding Limit” shall have the same meaning as defined in Clause 3.2 of this
Agreement.

“Transferred Shares” means the shares of the Target Company which WFOE may, in the exercise
of the Call Option (“Exercise”) pursuant to Clause 3.2 of this Agreement, require either or
both of the Existing Shareholders to transfer to itself or such any other persons or
entities designated by it. The number of the shares so transferred may be the entirety or
such an amount of the Optioned Shares, as to be determined by WFOE in accordance with the
PRC Laws then in force and its business consideration.

“Transfer Price” means the full consideration WFOE, or such any other persons or entities
designated by it, shall pay the Existing Shareholder(s) pursuant to Clause 4 of this
Agreement on each occasion of the Exercise in order to acquire the Transferred Shares.

	1.2	 	In this Agreement, reference to any of the PRC Laws shall be deemed as including:

	 	(i)	 	any amendment, modification, supplement or replacement of the relevant PRC
Laws, irrespective of whether it becomes effective prior to or subsequent to the date
of this Agreement; and

	 
	 	(ii)	 	any other rulings, notices or statutory rules made in accordance with, or
otherwise effected by virtue of, the relevant PRC Laws.

	1.3	 	In this Agreement, reference to the number of the Clauses, Sub-clauses, Paragraphs, or
Sub-paragraphs shall be to the corresponding text, unless otherwise required by the context.

 

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	2.	 	Grant of Call Option

	2.1	 	The Existing Shareholders hereby individually and jointly agree to grant, irrevocably and
unconditionally, WFOE the Call Option whereby WFOE may, to the extent permitted by the PRC
Laws, require the Existing Shareholders to transfer the Optioned Shares to WFOE and/or such
any other persons or entities designated by WFOE in accordance with this Agreement. WFOE
agrees to accept the Call Option.

	2.2	 	The Target Company agrees to the grant by the Existing Shareholders of the Call Option in
favor of WFOE under Clause 2.1 hereinabove and the other provisions of this Agreement.

	3.	 	Manners of Exercise

	3.1	 	WFOE may determine, in its sole and absolute discretion, the timing, the manner and the
number of time(s), of the Exercise to the extent permitted by the PRC Laws.

	3.2	 	Where the PRC Laws then in force allow the acquisition of the 100% shares in the Target
Company by WFOE and/or such any other persons or entities designated by WFOE, WFOE may choose
to exercise all of the Call Option at once to acquire, or to enable such any other persons or
entities designated by WFOE to acquire, the entire Optioned Shares from the Existing
Shareholders.

Where the PRC Laws then in force allow the acquisition of certain part of the
shareholding in the Target Company by WFOE and/or such any other persons or entities
designated by WFOE, WFOE may determine the amount of the Transferred Shares, within the
limit of shareholding prescribed by the PRC Laws then in force (“Shareholding Limit”), and
may acquire, or enable such any other persons or entities designated by WFOE to acquire,
the Transferred Shares from the Existing Shareholders in such an amount as determined
above. WFOE may choose to exercise such a part of the Call Option as permitted by the
Shareholding Limit lifted by the PRC Laws from time to time, until it has acquired the
entire Optioned Shares.

 

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	3.3	 	On each occasion of the Exercise, WFOE may determine the Transferred Shares in such amount as
it deems fit, to be transferred by the Existing Shareholder(s) to WFOE and/or such any other
persons or entities designated by WFOE. The Existing Shareholders shall transfer to WFOE
and/or such any other persons or entities designated by WFOE respectively such amount of the
Transferred Shares as determined by WFOE. WFOE and/or such any other persons or entities
designated by WFOE shall pay the Existing Shareholder, who has transferred the Transferred
Shares to it, the Transfer Price for the Transferred Shares it receives on each occasion of
the Exercise. Subject to the PRC Laws, WFOE may choose to offset the Transfer Price payable
by it by creditor’s rights, if any, WFOE or its related transferee has against the Existing
Shareholder(s).

	3.4	 	Subject to the PRC Laws, WFOE may, on each occasion of the Exercise, accept the transfer of
the Transferred Shares, or appoint any third party to accept the Transferred Shares in whole
or in part.

	3.5	 	WFOE shall issue to the Existing Shareholder(s) a notice of the exercise of the Call Option
(“Notice of Exercise”, in the same form as set out in Appendix 2) for each occasion of the
Exercise. The Existing Shareholders shall, immediately after receipt of the Notice of
Exercise, transfer all the Transferred Shares to WFOE and/or such any other persons or
entities designated by WFOE in one single transaction in accordance with the Notice of
Exercise and in an manner prescribed by Clause 3.3 of this Agreement.

	3.6	 	Each of the Existing Shareholders hereby severally and jointly undertakes and guarantees that
he shall, upon receipt of the Notice of Exercise:

	 	(i)	 	convene or call for the shareholders meeting to adopt the resolution or to
initiate any other necessary steps for the transfer of the entire Transferred Shares
at the Transfer Price to WFOE and/or such any other persons or entities designated by
WFOE, and for the waiver of any priority to purchase the same, and shall ensure that
the shareholders and board meetings are conducted in
compliance with the laws, regulations and the Target Company’s articles of
incorporation in relation to the procedure for convening, the methods for adoption
of the resolutions and the contents of the resolutions;

 

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	 	(ii)	 	immediately execute the agreement for transfer of the shares with, and
transfer the entire Transferred Shares at the Transfer Price to, WFOE and/or such any
other persons or entities designated by WFOE;

	 
	 	(iii)	 	provide such necessary assistance as requested by WFOE, or required by laws,
regulations, and the Target Company’s articles of incorporation, including providing
and executing the relevant legal documents, undertaking the filing and registration
required by the government, and assuming the relevant obligations, to enable WFOE
and/or such any other persons or entities designated by WFOE to acquire the entire
Transferred Shares free of any legal defects.

	3.7	 	Each of the Existing Shareholders shall, at the time of signing this Agreement, execute a
power of attorney (“Power of Attorney”, in the same form as set out in Appendix 3),
authorizing the person (“Attorney”) to be designated by WFOE to execute and issue on its
behalf any and all legal documents required for the acquisition by WFOE, and/or such any other
persons or entities designated by WFOE, of all the Transferred Shares without any legal
defects. WFOE shall keep the Power of Attorney, and may at any time require the Existing
Shareholder to issue duplicate copies of the Power of Attorney for submission, when necessary,
to the relevant governmental authorities. Upon receipt of written notice from WFOE for the
replacement of the existing Attorney, the Existing Shareholder shall revoke the existing Power
of Attorney immediately, and issue a new Power of Attorney, in place of the existing one, in
favor of the person to be designated then by WFOE. Except for the foregoing, the Existing
Shareholder shall not revoke the Power of Attorney.

 

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Notwithstanding the above, the Existing Shareholder shall, pursuant to
Clause 3.6 (iii), execute or complete any documents or matters as required by the PRC Laws,
articles of incorporation or the governmental authorities in relation to the exercise of
the Call Option by WFOE.

	3.8	 	Each Party hereby acknowledges that each of the Existing Shareholders has pledged its
shareholding in the Target Company in favor of WFOE, in accordance with the terms and
conditions contained in the Agreement for Pledge of Shares dated 15 June 2009 entered into by
and among the Existing Shareholders and WFOE, as security for the performance of their
respective obligations under this Agreement by each of the Existing Shareholders and the
Target Company.

	4.	 	Transfer Price

On each occasion of the Exercise, WFOE, or such any other persons or entities designated by WFOE,
shall pay the Existing Shareholder the Transfer Price, equal to the amount derived by multiplying
the sum of the Registered Capital by the percentage that the Optioned Shares account for of the
Registered Capital, or the other amount as otherwise agreed upon in writing by the relevant
Parties. If there is a statutory requirement for the Transfer Price under the PRC Laws then in
force, WFOE, or such any other persons or entities designated by WFOE, may use the minimum price
permitted by the PRC Laws as the Transfer Price. In such a case, the relevant Parties agree to
cooperate, and to execute the documents and to take the actions required, to complete the
transaction of the share transfer.

	5.	 	Representations and Warranties

	5.1	 	Each of the Existing Shareholders hereby severally and jointly represents and warrants as
follows, and such representations and warranties shall remain valid as if they are made at the
time of the transfer of the Optioned Shares.

	 	5.1.1	 	The Existing Shareholder is a PRC citizen with full capacity to act, has
complete and independent legal status and legal capacity to enter into, deliver and
perform this Agreement, and may act independently as a party to sue or be sued.

 

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	 	5.1.2	 	The Target Company was duly incorporated and is legally existing under the
PRC Laws as a limited liability company, is an independent legal person, and has
complete and independent legal status and legal capacity to enter into, deliver and
perform this Agreement, and may act independently as a party to sue or be sued.

	 	5.1.3	 	The Existing Shareholder possesses full powers and authorization to enter
into and deliver this Agreement, and any other documents it is to sign in relation to
the transaction contemplated under this Agreement, and to execute the transaction
contemplated under this Agreement.

	 	5.1.4	 	This Agreement is legally and duly signed and delivered by the Existing
Shareholders. This Agreement constitutes legal and binding obligations on the
Existing Shareholders, which may be enforced through compulsory proceedings.

	 	5.1.5	 	The Existing Shareholders are, as of the effective date of this Agreement,
the registered and legitimate owner of the Optioned Shares, free from any lien,
pledge, claim, or any other security interests in rem or a third party right, except
for those created by this Agreement, the Agreement for Pledge of Shares with WFOE and
the Proxy Voting Agreement with WFOE and the Target Company. WFOE, and/or such any
other persons or entities designated by WFOE, will after the Exercise acquire good and
clean title to the Transferred Shares, free from any lien, pledge, claim, or any other
security interests in rem or a third party right.

	5.2	 	The Target Company hereby represents and warrants as follows:

	 	5.2.1	 	It was duly incorporated and is legally existing under the PRC Laws as a
limited liability company, is an independent legal person, and has complete and
independent legal status and legal capacity to enter into, deliver and perform this
Agreement, and may act independently as a party to sue or be sued.

 

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	 	5.2.2	 	It possesses full powers and authorization to enter into and deliver this
Agreement, and any other documents it is to sign in relation to the transaction
contemplated under this Agreement, and to execute the transaction contemplated under
this Agreement.

	 	5.2.3	 	This Agreement is legally and duly signed and delivered by the Target
Company. This Agreement constitutes legal and binding obligations on the Target
Company.

	 	5.2.4	 	The Existing Shareholders are, as of the date of this Agreement, the
registered and legitimate owner of the entire Optioned Shares. WFOE, and/or such any
other persons or entities designated by WFOE, will after the Exercise acquire good and
clean title to the Transferred Shares, free from any lien, pledge, claim, or any other
security interests in rem or a third party right.

	 	5.2.5	 	As of the date of this Agreement, except value-added telecommunication
business operation license, Internet culture operation license and Internet
publication license, all of which are to be obtained by the Target Company pursuant to
Clause 7.4 of this Agreement, and those disclosed to WFOE at the date of this
Agreement, the Target Company possesses the Operating Licenses required for its
business operation, and possesses the full privileges and qualifications to operate
its businesses within the PRC. The Target Company has since incorporation been
managed in compliance with the laws, and there is no violation, or possible violation,
of the rules or requirements of the industry and commerce, taxation, business,
technical supervisory, labor, and social security authorities, or other governmental
authorities. Nor the Target Company is a party to any dispute for breach of contract.

	6.	 	Undertakings by Existing Shareholders

Each of the Existing Shareholders hereby severally and jointly undertakes as
follows:

 

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	6.1	 	It will take necessary actions to ensure that the Target Company will, during the term of
this Agreement, timely obtain all the Operating Licenses required for its operations and
continuously maintain the validity of the same, in particular, to ensure that the Target
Company will perform its obligations prescribed in Clause 7.4 of this Agreement.

	 
	6.2	 	Throughout the duration of this Agreement and without prior written consent by WFOE:

	 	6.2.1	 	It shall not transfer, otherwise dispose of, or grant any security interests
in rem or any other third party rights over, any Optioned Shares.

	 	6.2.2	 	It shall not, nor agrees to, increase or reduce the Registered Capital of
the Target Company.

	 	6.2.3	 	It shall not, nor causes the management of the Target Company to, dispose of
any Assets (except for those disposed of in the ordinary course of business, or
disclosed to and consented in writing by WFOE).

	 	6.2.4	 	It shall not, nor causes the management of the Target Company to, terminate
any existing Material Agreement, or enter into any agreement which may come into
conflict with the existing Material Agreements.

	 	6.2.5	 	It shall not, alone or in conjunction with the other Existing Shareholder,
cause the Target Company to enter into any transaction which may materially affect its
Assets, responsibilities, business operation, shareholders structure, shareholding in
third party companies, or any other legitimate claims (except for those occurred in
the normal course of business, or disclosed to and consented in writing by WFOE).

 

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	 	6.2.6	 	It shall not appoint or replace any board member or supervisor, or
any manager of the Target Company which the Existing Shareholders could otherwise
appoint or replace.

	 	6.2.7	 	It shall not cause or agree with the Target Company to, or declare to,
distribute any profits, bonuses or dividends, nor consents to any such allocation or
distribution.

	 	6.2.8	 	It shall ensure the valid existence of the Target Company, without being
terminated, liquidated or dissolved.

	 	6.2.9	 	It shall not cause or agree with the Target Company to amend its articles of
incorporation.

	 	6.2.10	 	It shall ensure that the Target Company will not lend or borrow any loan, provide
any guaranty or other forms of security, or undertake any material obligation beyond
the normal course of business.

	6.3	 	It shall, during the term of this Agreement, develop the Target Company’s business and ensure
its legitimacy and compliance with the laws and regulations with its best endeavours. It
shall not commit any act or omission which may jeopardize the Target Company’s Assets or
goodwill, or affect the validity of the Operating Licenses.

	7.	 	Undertakings by Target Company

	7.1	 	The Target Company shall use its best endeavours to obtain any and all such approvals,
permits, waivers and authorizations by a third party, or approvals, permits, exemptions by a
governmental authority, or registration or filing (if required by law) with a governmental
authority, as required for the execution and performance of this Agreement and for the grant
of the Call Option under this Agreement.

	7.2	 	The Target Company will not, without prior written consent by WFOE, assist with or allow the
disposal of the Optioned Shares through transfer or any other manners, or the creation of any
security interests in rem or a third party right over the Optioned Shares, by the Existing
Shareholder.

 

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	7.3	 	The Target Company shall not conduct, nor allows the same to be conducted, any act or action
which may adversely affect the interests of WFOE under this Agreement.

	7.4	 	Unless otherwise consented in writing by WFOE, the Target Company shall, as soon as
practicable but no later than six months after the signing date of this Agreement, apply to
obtain value-added telecommunication business operation license, Internet culture operation
license and Internet publication license, all of which are required to operate Internet
information service business and Internet game products and services business. After the
receipt of any of the licenses mentioned above, the Target Company shall continuously maintain
the validity of any of such license during the term of this Agreement.

	8.	 	Confidentiality

	8.1	 	Irrespective of whether this Agreement is terminated, the Existing Shareholder shall keep the
following information (“Confidential Information”) confidential:

	 	(i)	 	the execution, performance and the contents of this Agreement;

	 	(ii)	 	any information it becomes aware of or receives by virtue of the execution or
performance of this Agreement, with regard to WFOE’s business secrets, proprietary
information or customers data; and

	 	(iii)	 	any information it becomes aware of or receives by virtue of being a
shareholder of the Target Company, with regard to the Target Company’s business
secrets, proprietary information or customers data.

The Existing Shareholder may use the Confidential Information solely for the purposes
of the performance of its obligations under this Agreement. Without written consent by
WFOE, it shall not disclose the Confidential Information to any third party. It shall bear
the
responsibility, and be held liable for compensation for, any breach of
confidentiality.

 

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	8.2	 	After the expiry or termination of this Agreement, the Existing Shareholder shall, at the
request of WFOE, return, destroy, or handle in an appropriate manner, any and all the
documents, data or software containing Confidential Information, and shall cease using the
same.

	8.3	 	Notwithstanding any other provisions of this Agreement, the validity of this Clause 8 shall
survive the expiry or termination of this Agreement.

	9.	 	Term

This Agreement becomes effective upon signing by each Party, and shall terminate, in respect of an
Existing Shareholder (to the extent of its shareholding in the Target Company), upon completion of
the transfer of the entire Optioned Shares held by it to WFOE, and/or such any other persons or
entities designated by WFOE, pursuant to this Agreement. Where this Agreement becomes terminated
according to the foregoing provisions, this Agreement shall remain in full force in relation to the
other Existing Shareholder to the extent of its shareholding in the Target Company.

	10.	 	Notices

	10.1	 	Any notices, requests, demands or other communications required by or issued pursuant to this
Agreement shall be delivered in writing to the Party concerned.

	10.2	 	All notices or other communications given hereunder shall be considered to be given and
received at the time of: dispatch when sent by facsimile transmission; hand-over when hand
delivered; or five days after deposit in the mails when sent by post.

 

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	11.	 	Default

	11.1	 	The Parties agree and acknowledge that any material breach of, or material failure to
perform, an obligation under this Agreement by a
Party (“Defaulting Party”) will constitute an event of default (“Event of Default”), and
that each of the other Parties (“Non-defaulting Party”) may require the Defaulting Party to
rectify the same or to take remedial measures. Where the Defaulting Party fails to do so
within a reasonable period of time or 10 days after receipt of written notice and demand
for rectification from the Non-defaulting Party, the Non-defaulting Party may choose to:

	 	(i)	 	terminate this Agreement and claim damages in full from the Defaulting Party;
or

	 	(ii)	 	require the Defaulting Party to continue performing its obligations under
this Agreement and claim damages in full from it.

	11.2	 	The rights and remedies provided hereunder are cumulative, and do not preclude any other
rights or remedies provided by laws (including but not limited to corresponding reimbursement,
compensation and any other remedies permitted by laws).

	11.3	 	Notwithstanding any other provisions of this Agreement, this Clause 11 shall survive the
expiry or termination of this Agreement.

	12.	 	Miscellaneous

	 
	12.1	 	This Agreement is executed in four copies, with one copy to be held by each Party.

	12.2	 	The formation, effectiveness, performance, amendment, interpretation, and termination of this
Agreement shall be governed by the PRC Laws.

	12.3	 	Any dispute arising out of or in connection with this Agreement shall be resolved through
negotiation by the Parties in question. Where the Parties fail to reach consensus within 30
days after the dispute arises, the dispute shall be referred to the Shanghai Sub-commission of
China International Economic and Trade Arbitration Commission (“CIETAC”), for arbitration to
be conducted in Shanghai in accordance
with CIETAC arbitration rules. The arbitral award will be final and binding on the Parties
in dispute.

 

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	12.4	 	Any right, privilege, or remedy granted hereunder to a Party does not preclude the other
rights, privileges or remedies the Party may be entitled to under the laws or other provisions
of this Agreement. The exercise of a right, privilege or remedy does not bar the Party from
exercising any other rights, privileges or remedies the Party may be entitled to.

	12.5	 	Failure or delay by a Party in the exercise of a right, privilege or remedy it may have under
the laws or this Agreement (“Rights”) shall not be construed as a waiver. Any waiver of one
or more of the Rights does not preclude the exercise of the Rights in another manner or the
exercise of the other Rights.

	12.6	 	The headings in this Agreement are for purposes of convenience and ease of reference only and
shall not be construed to limit or otherwise affect the meaning of any part of this Agreement.

	12.7	 	Under this Agreement, each clause is severable and independent from the others. If any
clause or clauses of this Agreement are held to be invalid, unlawful or unenforceable, the
validity, legitimacy and enforceability of the remaining clauses of this Agreement shall
remain intact and unaffected.

	12.8	 	This Agreement, once signed, replaces and supersedes any and all other legal documents
previously signed by the Parties in relation to the subject matter hereof. Except where WFOE
assigns its rights and/or obligations under this Agreement pursuant to Clause 12.9, any
amendment or supplement to this Agreement shall be made in writing, and become effective only
until duly signed by each of the Parties.

	12.9	 	The Existing Shareholder or the Target Company shall not assign its rights and/or obligations
under this Agreement to any third party without prior written consent from WFOE. WFOE may, to
the extent permitted by the PRC Laws, assign its rights and/or obligations under this
Agreement to any third party after notifying the Existing Shareholders and the Target
Company.

 

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	12.10	 	This Agreement is binding on the lawful successor(s) of each Party.

(End of Text)

IN WITNESS WHEREOF, this Agreement has been duly executed by each of the Parties as of the date and
place first above written.

	 	 	 	 	 
	Signed by:	 	 
	 
	 	 	 	 
	Yang Zhuojun	 	 
	 
	 	 	 	 
	 	 	 
	 
	 	 	 	 
	Tan Yihui	 	 
	 
	 	 	 	 
	 	 	 
	 
	 	 	 	 
	Shanghai Jinyou Network & Technology Co., Ltd.
	 
	 	 	 	 
	 	 	 
	Name:
	 	 	 	 
	Title:	 	Authorized Representative
	 
	 	 	 	 
	T2CN Information Technology (Shanghai) Co., Ltd.
	 
	 	 	 	 
	 	 	 
	Name:
	 	 	 	 
	Title:	 	Authorized Representative

 

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APPENDIX 1 – BASICS OF COMPANY

	 	 	 
	Name of Company:

	 	Shanghai Jinyou Network & Technology Co., Ltd.
	 
	 	 
	Registered Address:

	 	Unit 903, Block E, 5383 Donglong Avenue, Pudong New

Area, Shanghai
	 
	 	 
	Registered Capital:

	 	10,000,000 RMB
	 
	 	 
	Legal Representative:

	 	Yang Zhuojun

Shareholding:

	 	 	 	 	 
	Shareholders	 	Amount of contribution	 	Percentage
	Yang Zhuojun
	 	5,000,000 RMB
	 	50%
	Tan Yihui
	 	5,000,000 RMB
	 	50%
	Total
	 	10,000,000 RMB
	 	100%

	 	 	 
	Fiscal Year:

	 	From 1 January to 31 December

 

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APPENDIX 2 – NOTICE OF EXERCISE

To: (Insert the name of the Existing Shareholder)

The undersigned entered into the Exclusive Call Option Agreement (“ECOA”) with you and Shanghai
Jinyou Network & Technology Co., Ltd. (“Target Company”) on 15 June, 2009, whereby you shall, at
the request of the undersigned, transfer your shareholding in the Target Company to the undersigned
or such any other persons or entities designated by the undersigned, to the extent permitted by the
PRC laws and regulations.

As such, the undersigned hereby issue to you this Notice as follows:

The undersigned hereby exercises the Call Option under ECOA, for the undersigned/ (Insert the
name of the company or the individual) designated by the undersigned to receive
 _____ %
shareholding (“Shares for Transfer”) you have in the Target Company. Please follow the terms of
ECOA and transfer to the undersigned/ (Insert the name of the company or the individual
designed by the undersigned) the Shares for Transfer immediately after receipt of this Notice.

	 	 	 	 	 
	Yours faithfully,	 	 
	 
	 	 	 	 
	T2CN Information Technology (Shanghai) Co., Ltd.
	(with seal)	 	 
	 
	 	 	 	 
	 	 	 
	Name:
	 	 	 
	Title: 	Authorized Representative
	Date:
	 	 	 	 

 

20

 

APPENDIX 3 – POWER OF ATTORNEY

The undersigned, Yang Zhuojun, hereby irrevocably appoints Ching Chia-Feng (ID No.
310103197302062418) as his/her attorney to execute and issue on his/her behalf the share transfer
agreement(s) and any other legal documents related to such transfer of shares in Shanghai Jinyou
Network & Technology Co., Ltd., as agreed upon by and among the undersigned, T2CN Information
Technology (Shanghai) Co., Ltd. and Shanghai Jinyou Network & Technology Co., Ltd..

	 	 	 	 	 
	Signed by:	 	/s/ Yang Zhuojun
	 	 	 	 	 

Date: 15 June, 2009

 

21

 

APPENDIX 3 – POWER OF ATTORNEY

The undersigned, Tan Yihui, hereby irrevocably appoints Ching Chia-Feng (ID No. 310103197302062418)
as his/her attorney to execute and issue on his/her behalf the share transfer agreement(s) and any
other legal documents related to such transfer of shares in Shanghai Jinyou Network & Technology
Co., Ltd., as agreed upon by and among the undersigned, T2CN Information Technology (Shanghai) Co.,
Ltd. and Shanghai Jinyou Network & Technology Co., Ltd..

	 	 	 	 	 
	Signed by:	 	 /s/ Tan Yihui
	 	 	 	 	 

Date: 15 June, 2009

 

22EX-4.26

Exhibit 4.26

(TRANSLATION)

Confidential

PROXY VOTING AGREEMENT

REGARDING

SHANGHAI JINYOU NETWORK & TECHNOLOGY CO., LTD.

Among:

T2CN INFORMATION TECHNOLOGY (SHANGHAI) CO., LTD.

SHANGHAI JINYOU NETWORK & TECHNOLOGY CO., LTD.

YANG ZHUOJUN

And

TAN YIHUI

Dated: 15 June, 2009

 

 

PROXY VOTING AGREEMENT

This proxy voting agreement (the “Agreement”) is entered into on 15 June 2009 in Shanghai, People’s
Republic of China (“PRC”), by and among:

	(1)	 	T2CN Information Technology (Shanghai) Co., Ltd. (hereinafter “WFOE”). Contact address: 12F,
418, Gui Ping Road, Shanghai;

	(2)	 	Shanghai Jinyou Network & Technology Co., Ltd. (hereinafter “Target Company”). Registered
address: Unit 903, Block E, 5383 Donglong Avenue, Pudong New Area, Shanghai;

	 
	(3)	 	Yang Zhuojun, ID No. 310104197203122418; and

	 
	(4)	 	Tan Yihui, ID No. 310227197811111835;

(Yang Zhuojun and Tan Yihui are hereinafter referred to as “Shareholder” individually, or
“Shareholders” collectively)

WHEREAS:

	(1)	 	The Shareholders are the current shareholders of the Target Company, and are holding the
entire issued capital stock of the Target Company.

	(2)	 	Each Shareholder intends to appoint the person to be designated by WFOE as proxy to exercise
its voting rights in respect of the Target Company, and WFOE agrees to designate a person to
accept such appointment.

 

2

 

The parties hereby agree as follows:

	1.	 	Proxy of Voting Rights

	1.1	 	Each Shareholder hereby irrevocably undertakes to execute, after the signing of this
Agreement, the appointment of proxy authorizing Ji Min (ID No. 310102197504135631, “Proxy”) to
exercise, to the extent permitted by the PRC laws, the following rights (“Proxy Rights”) the
Shareholder is entitled to as a shareholder of the Target Company under its then effective
Articles of Incorporation:

	 	(i)	 	attendance on behalf of the Shareholder at the shareholders meetings of the
Target Company;

	 
	 	(ii)	 	exercise of voting rights on behalf of the Shareholder on all matters
requiring discussion or resolution at the shareholder meetings (including but not
limited to appointment and election of Director, President, and other senior
executives);

	 
	 	(iii)	 	proposal to call for an extraordinary shareholders meeting;

	 
	 	(iv)	 	any shareholder voting rights provided by law; and

	 
	 	(v)	 	any other shareholder voting rights provided by the Articles of Incorporation
of the Target Company (including any other shareholder voting rights to be provided by
any amendments to the Articles of Incorporation).

	1.2	 	The effectiveness of the appointment and proxy granted hereunder is contingent upon the PRC
citizenship of the Proxy and WFOE’s agreement. Each Shareholder shall immediately, only upon
receipt of written notice from WFOE of replacement of the Proxy, revoke the appointment
granted to the existing Proxy under this Agreement, and appoint such another PRC citizen as
then designated by WFOE to exercise the Proxy Rights pursuant to this Agreement. Subject to
the foregoing, each Shareholder shall not otherwise revoke the appointment and proxy granted
to the Proxy.

	1.3	 	The Proxy shall, within the scope of the appointment as provided hereunder, perform the proxy
duties prudently and diligently in compliance with the laws and the Target Company’s Articles
of Incorporation. The Proxy shall ensure that the shareholders meetings are conducted in
compliance with the laws, regulations and the Target Company’s Articles of Incorporation in
relation to the procedure for convening, the methods for adoption of the resolutions and the
contents of the resolutions. Each party shall acknowledge and assume the liability for any legal
consequence arising from the exercise of the Proxy Rights by the Proxy.

 

3

 

	1.4	 	Each Shareholder hereby acknowledges that the Proxy may, subject to the PRC laws, exercise
the Proxy Rights without seeking opinion or instructions from any Shareholder. The Proxy
shall promptly notify each Shareholder of any resolutions adopted, or any proposal motioned to
call for an extraordinary shareholders meeting.

	 
	2.	 	Right to Information

The Proxy is entitled to information in respect of the operation, business, customers, finance, and
employees of the Target Company, for the purposes of exercising the Proxy Rights granted under this
Agreement. The Proxy may also review the relevant information of the Target Company (including but
not limited to any books, reports/statements, agreement, internal communications, meeting minutes
of the Board, and other documents), and the Target Company shall provide full cooperation
accordingly.

	3.	 	Exercise of Proxy Rights

	3.1	 	Each Shareholder shall provide full assistance for the exercise of the Proxy Rights by the
Proxy, including, when necessary (i.e. to comply with the required approval, registration or
filing with a government agency), signing any shareholders resolutions of the Target Company
voted for by the Proxy or other related legal documents.

	3.2	 	If, for any reason (other than an Event of Default by each Shareholder or the Target
Company), the grant or exercise of any of the Proxy Rights under this Agreement becomes
impossible, each party shall identify an alternative solution most akin to the provisions of
this Agreement at issue, and, if necessary, execute a supplementary agreement to amend or
adjust the provisions of this Agreement to ensure realization of the purposes of this
Agreement.

 

4

 

	4.	 	Disclaimer and Indemnification

The Target Company and each Shareholder shall indemnify and hold harmless WFOE and the Proxy from
and against any and all losses they may incur in connection with the exercise of the Proxy Rights
by the Proxy, including but not limited to any losses caused by any litigations, actions,
arbitrations, or damage claims filed by any third party, or by any governmental administrative
investigations or penalties. Notwithstanding the above, the indemnity does not cover any losses
caused by virtue of an intentional act or gross negligence on the part of WFOE or the Proxy.

	5.	 	Representations and Warranties

	 
	5.1	 	Each Shareholder hereby severally and jointly represents and warrants as follows:

	 	5.1.1	 	Each Shareholder is a PRC citizen with full capacity to act, has complete
and independent legal status and legal capacity to enter into, deliver and perform
this Agreement, and may act independently as a party to sue or be sued.

	 
	 	5.1.2	 	Each Shareholder possesses full powers and authorization to enter into and
deliver this Agreement, and any other documents he is to sign in relation to the
transaction contemplated under this Agreement, and to execute the transaction
contemplated under this Agreement.

	 
	 	5.1.3	 	This Agreement is legally and duly signed and delivered by each Shareholder.
This Agreement constitutes legal and binding obligations on each Shareholder, which
may be enforced through compulsory proceedings.

	 
	 	5.1.4	 	The Shareholders are, as of the effective date of this Agreement, the
registered and legitimate shareholders of the Target Company. The Proxy Rights are
free from any third party claims, except for those created by this Agreement, the
Agreement for Pledge of Shares with WFOE and the Exclusive Call Option Agreement with
WFOE and the Target Company. The Proxy may exercise the Proxy Rights to the fullest extent in accordance with the PRC laws and the
Target Company’s Articles of Incorporation.

 

5

 

	5.2	 	WFOE and the Target Company hereby represent and warrant respectively as follows:

	 	5.2.1	 	It was duly incorporated and is legally existing under the PRC laws as a
limited liability company, is an independent legal person, and has complete and
independent legal status and legal capacity to enter into, deliver and perform this
Agreement, and may act independently as a party to sue or be sued.

	 
	 	5.1.2	 	It has the full corporate powers and authorizations to enter into and
deliver this Agreement, and any other documents it is to sign in relation to the
transaction contemplated under this Agreement, and possesses full powers and
authorization to execute the transaction contemplated under this Agreement.

	5.3	 	The Target Company further represents and warrants that, as of the effective date of this
Agreement, Shareholders are registered and legitimate shareholders of the entire capital stock
of the Target Company, and that the Proxy may exercise the Proxy Rights to the fullest extent
in accordance with the PRC laws and the Target Company’s Articles of Incorporation.

	5.4	 	All parties acknowledged that each Shareholder has entered into the Agreement for Pledge of
Shareholding with WFOE dated 15 June, 2009, whereby each Shareholder has pledged its
shareholding in the Target Company in favor of WFOE, as security for the performance of the
obligations under this Agreement by each Shareholder.

	6.	 	Term

	 
	6.1	 	Subject to 6.2 of this Agreement, this Agreement shall become effective upon signing by each
party, and its term shall expire on 21 November, unless terminated earlier through written
agreement by each party, or terminated pursuant to Clause 8.1 of this Agreement.

 

6

 

	6.2	 	If, with prior consent of WFOE, a Shareholder transfers his entire shareholding in the Target
Company, he will cease to be a party to this Agreement. The obligations and undertakings of
the other parties to this Agreement shall not be adversely affected.

	 
	7.	 	Notices

	7.1	 	Any notices, requests, demands or other communications required by or issued pursuant to this
Agreement shall be delivered in writing to the party concerned.

	7.2	 	All notices or other communications given hereunder shall be considered to be given and
received at the time of: dispatch when sent by facsimile transmission; hand-over when hand
delivered; or 5 days after deposit in the mails when sent by post.

	 
	8.	 	Default

	8.1	 	All parties agree and acknowledge that any material breach of, or material failure to
perform, an obligation under this Agreement by a party (“Defaulting Party") will constitute an
event of default (“Event of Default"), and that each of the other parties (“Non-defaulting
Party") may require the Defaulting Party to rectify the same or to take remedial measures.
Where the Defaulting Party fails to do so within a reasonable period of time or 10 days after
receipt of written notice and demand for rectification from the Non-defaulting Party, the
Non-defaulting Party may choose to:

	 	(i)	 	terminate this Agreement and claim damages in full from the Defaulting Party;
or

	 
	 	(ii)	 	require the Defaulting Party to continue performing its obligations under
this Agreement and claim damages in full from the Defaulting Party.

	8.2	 	Notwithstanding any other provisions of this Agreement, the validity of
this Clause 8 shall survive the expiry or termination of this Agreement.

 

7

 

	9.	 	Miscellaneous

	 
	9.1	 	This Agreement is executed in four copies in Chinese, with one copy to be held by each party.

	9.2	 	The formation, effectiveness, performance, amendment, interpretation, and termination of
this Agreement shall be governed by the PRC laws.

	9.3	 	Any dispute arising out of or in connection with this Agreement shall be resolved through
negotiation by the Parties in question. Where the Parties fail to reach consensus within 30
days after the dispute arises, the dispute shall be referred to the Shanghai Sub-commission of
China International Economic and Trade Arbitration Commission (“CIETAC”), for arbitration to
be conducted in Shanghai in accordance with CIETAC arbitration rules. The arbitral award will
be final and binding on the Parties in dispute.

	9.4	 	Any right, privilege, or remedy granted hereunder to a party does not preclude the other
rights, privileges or remedies the party may be entitled to under the laws or other provisions
of this Agreement. The exercise of a right, privilege or remedy does not bar the party from
exercising any other rights, privileges or remedies the party may be entitled to.

	9.5	 	Failure or delay by a Party in the exercise of a right, privilege or remedy it may have
under the laws or this Agreement (“Rights”) shall not be construed as a waiver. Any waiver of
one or more of the Rights does not preclude the exercise of the Rights in another manner or
the exercise of the other Rights.

	9.6	 	The headings in this Agreement are for purposes of convenience and ease of reference only
and shall not be construed to limit or otherwise affect the meaning of any part of this
Agreement.

 

8

 

	9.7	 	Under this Agreement, each clause is severable and independent from the others. If any provision of this Agreement is held to be invalid, unlawful or
unenforceable, the validity, legitimacy and enforceability of the remaining provisions of
this Agreement shall remain intact.

	9.8	 	Any amendment or supplement to this Agreement shall be made in writing, and become
effective only until duly signed by each the party.

	9.9	 	The Target Company and each Shareholder shall not assign its rights, obligations or
responsibilities under this Agreement to any third party without prior written consent from
WFOE. WFOE may, to the extent permitted by the PRC laws, assign its rights and/or obligations
under this Agreement to any third party after notifying each Shareholder and the Target
Comapny.

	 
	9.10	 	This Agreement is binding on the lawful successor(s) of each party.

(End of Text)

IN WITNESS WHEREOF, this Agreement has been executed by each party as of the date and at the
location first above written.

Signed by:

T2CN Information Technology (Shanghai) Co., Ltd.

          
                   
                   
            

Name:

Title:

Shanghai Jinyou Network & Technology Co., Ltd.

          
                   
                   
            

Name:

Title:

Yang Zhuojun

         
                   
            

Tan Yihui

          
                   
           

 

9

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