Document:

exv10w1

 

Exhibit 10.1

China Minsheng Banking Corp., Ltd. & UCBH Holdings, Inc.

Investment Agreement

 

China Minsheng Banking Corp. Ltd. Logo

UCBH Holdings, Inc. Logo

2007

 

 

INVESTMENT AGREEMENT
 

Dated as of
 

October 7, 2007
 

Between
 

China Minsheng Banking Corp., Ltd.
 

&
 

UCBH Holdings, Inc.

 

 

INVESTMENT AGREEMENT

     THIS INVESTMENT AGREEMENT (this “Agreement”) dated as of October 7, 2007, between China
Minsheng Banking Corp., Ltd., a Chinese joint stock commercial bank (“Buyer”) and UCBH Holdings,
Inc., a Delaware corporation (“Issuer”).

     WHEREAS, Issuer desires to (a) issue certain Common Stock (as defined herein) to Buyer and (b)
arrange for sales by certain shareholders of Issuer of Common Stock to Buyer, and Buyer desires to
(i) purchase such Common Stock and (ii) subject to compliance with applicable law, make third party
purchases of Common Stock, all upon the terms and subject to the conditions hereinafter set forth;
and

     WHEREAS, on the First Closing Date (as defined herein), Buyer and Issuer intend to enter into
an Investor’s Rights and Standstill Agreement (the “Investor’s Rights Agreement”) in the form
attached hereto as Exhibit A and a Voting Agreement (the “Voting Agreement”) in the form attached
hereto as Exhibit B.

     NOW, THEREFORE, in consideration of the premises and the mutual agreements and covenants
hereinafter set forth, and intending to be legally bound, Issuer and Buyer hereby agree as follows:

ARTICLE I.

DEFINITIONS

     Section 1.01 Definitions. (a) The following terms, as used herein, have the following
meanings:

     “Affiliate” means, with respect to any Person at any time, any other Person directly or
indirectly controlling, controlled by, or under common control with such Person as of such time;
provided that, for the purposes of this Agreement, Buyer and its Affiliates shall not be Affiliates
of Issuer, and Issuer and its Affiliates shall not be Affiliates of Buyer.

     “Ancillary Agreements” means the Investor’s Rights Agreement and the Voting Agreement.

     “Average Closing Price” means the average daily closing price per share of Issuer’s Common
Stock as quoted on the Nasdaq Global Select Market for the 90 trading day period set forth in the
definitions of the Step One Average Closing Price, the Step Two
Average Closing Price, and the Step
Three Average Closing Price, as applicable.

     “Beneficial Ownership” by a Person shall be interpreted in accordance with the term
“beneficial ownership” as defined in Rule 13d-3 promulgated under the Exchange Act; provided that
Buyer shall not be deemed to Beneficially Own any Common Stock subject to this Agreement prior to
the purchase of such Common Stock by Buyer. For purposes of this Agreement, a Person shall be
deemed to Beneficially Own any securities that are Beneficially Owned by its Affiliates or any
Group of which such Person or any such Affiliate is or becomes a member. Notwithstanding the
foregoing, securities Beneficially Owned by Buyer and its Affiliates shall not include, for any
purpose under this Agreement, any Common Stock held by Buyer and its Affiliates (i) in trust for
the benefit of persons other than Buyer and its Affiliates; (ii) in managed, brokerage, custodial,
nominee or other customer accounts; (iii) in mutual funds, open- or closed-end investment funds or
other pooled investment vehicles sponsored, managed and/or advised or subadvised by Buyer or its
Affiliates; or (iv) by Affiliates of Buyer (or any

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division thereof) which are broker-dealers or otherwise engaged in the securities business,
provided that in each case, such securities were acquired in the ordinary course of business of
their respective banking, investment management and securities business and not with the intent or
purpose on the part of Buyer or its Affiliates of influencing control of Issuer or avoiding the
provisions of this Agreement. The terms “Beneficially Own” and “Beneficial Owner” shall have a
correlative meaning.

     “Business Day” means a day, other than Saturday, Sunday or other day on which commercial banks
in San Francisco, California or Beijing, China are authorized or required by applicable law to
close.

     “Buyer Percentage” shall mean, at any time, the ratio, expressed as a percentage of the total
number of shares of Common Stock Beneficially Owned by Buyer to the total number of issued and
outstanding shares of Common Stock.

     “CADFI” means the California Department of Financial Institutions.

     “Capital Stock” means Common Stock and Preferred Stock.

     “CBRC” means the China Bank Regulatory Commission or its duly authorized local branch, as the
case may be, or any successors thereto.

     “Closing Date” means any or each of the First Closing Date, Second Closing Date or Third
Closing Date.

     “Common Stock” means common stock of Issuer, par value $0.01 per share.

     “Confidentiality Agreement” means the confidentiality letter agreement, dated September 5,
2007 between Issuer and Buyer, as may be amended from time to time.

     “Control” (including the terms “controlling”, “controlled by” and “under common control with”)
shall mean the possession, direct or indirect, of the power to direct or cause the direction of the
management and policies of a Person, whether through the ownership of voting securities, by
contract or otherwise.

     “CSRC” means the China Securities Regulatory Commission or its duly authorized local branch,
as the case may be, or any successors thereto.

     “Deemed Closing” means a Step Two Deemed Closing or a Step Three Deemed Closing.

     “Defensive Measure” means (i) any provision of the certificate of incorporation or bylaws of
Issuer the purpose or effect of which is, in whole or in part, to defer, delay or make more costly
or burdensome, the consummation of the acquisition of Common Stock by Buyer contemplated this
Agreement, (ii) any shareholder rights plan or “poison pill”, including any amendment to the
Shareholder Rights Agreement (other than the amendment referred to in Section 5.08), (iii) any
employment or severance agreement and any employee benefit plan that would provide for enhanced
benefits to officers, directors or employees of Issuer or any of its Subsidiaries or any
acceleration of any such benefits in connection with the consummation of the acquisition of Common
Stock by Buyer contemplated this Agreement, (iv) any contract or agreement to which Issuer is a
party that would impose on Issuer or any of its Subsidiaries a material cost, or deprives Issuer or
any of its Subsidiaries of a material asset or benefit, in either case, in connection with the
consummation of the acquisition of Common Stock of Issuer contemplated this Agreement and (vi) any
act by the board of directors of Issuer or any of its

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Subsidiaries that is intended to have or has any of the effects described in clauses (i)
through (vi) above.

     “Equity Securities” means (i) any equity securities of Issuer, including the Common Stock and
the Preferred Stock and (ii) any securities of Issuer that are convertible into, exchangeable for,
or otherwise entitle the holder thereof to receive or purchase equity securities of Issuer.

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

     “FDIC” means the Federal Deposit Insurance Corporation.

     “First Closing Date” means the date of
the First Closing.

     “First Closing” means the closing of the purchase and sale of the Initial Shares.

     “FRB” means the Federal Reserve Board.

     “GAAP” means, in the case of Issuer, the generally accepted accounting principles in the
United States as in effect from time to time, or in the case of Buyer, the generally accepted
accounting principles in the People’s Republic of China as in effect from time to time.

     “Governmental Entity” means any court, administrative agency or commission or other
governmental authority or instrumentality of the United States of America or the People’s Republic
of China, including any Regulatory Agency and the SEC; provided that, for the avoidance of doubt
“Governmental Entity” shall not include any state-owned enterprise or investment company or fund
established by any government or governmental agency.

     “Group” shall have the meaning set forth in Section l3(d)(3) of the Exchange Act.

     “Initial Shares” means the number of newly issued shares of Common Stock equal to the product
of 0.051525 multiplied by the Step One Outstanding Shares.

     “Investor’s
Rights Agreement” means the Investor’s Rights and Standstill Agreement in the form
attached as Exhibit A, which Issuer and Buyer shall enter into on the First Closing.

     “Issuer Disclosure Schedule” means the disclosure schedule dated the date hereof, delivered by
Issuer to Buyer in connection with, and forming part of, this
Agreement.

     “KRX Index” means the Keefe, Bruyette & Woods Regional Banking Index.

     “Liabilities” means any and all debts, liabilities and obligations, whether accrued or fixed,
absolute or contingent, matured or unmatured or determined or determinable, including those arising
under any law or order imposed by any Governmental Entity and those arising under any contract,
agreement, arrangement, commitment or undertaking.

     “Lien” means, with respect to any property or asset, any mortgage, lien, pledge, charge,
security interest, encumbrance or other adverse claim of any kind (including tax and environmental
liens) in respect of such property or asset.

     “Material Adverse Effect” means with respect to a Person, any event, change, circumstance or
effect which, individually or in the aggregate with any other events, changes, circumstances or
effects occurring on or after the date hereof, (i) is materially adverse to the business, assets,
liabilities, results of operations or condition (financial or otherwise) of such Person and its
Subsidiaries (if any) taken as a whole, other than any such event, chance, circumstance or effect
attributable to or resulting from (A) any change in banking or similar laws,

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rules, regulations or policies of general applicability or interpretations thereof by
Governmental Entities, (B) any change in GAAP or regulatory accounting principles, in each case
which affects banks, thrifts or their holding companies generally, (C) events or conditions in
economic, business or financial conditions generally or affecting banks, thrifts or their holding
companies specifically (including changes in the prevailing level of interest rates), (D) changes
in national or international political or social conditions, including the engagement by the United
States in hostilities, whether or not pursuant to the declaration of a national emergency or war,
or the occurrence of any military or terrorist attack upon or within the United States or any of
its territories, possession or diplomatic or consular offices or upon any military installation,
equipment or personnel of the United States, (E) in the case of Issuer, any action or omission of
Issuer taken with the prior written consent of Buyer, or (F) in the case of Buyer, any action or
omission of Buyer taken with the prior written consent of Issuer; or (ii) materially impairs the
ability of such Person to consummate the transactions contemplated hereby.

     “Person” means an individual, corporation, partnership, limited liability company,
association, trust or other entity or organization, including a Governmental Entity.

     “Preferred Stock” means preferred stock of Issuer, par value $0.01 per share.

     “Regulatory Agency” means any banking agency or department of any foreign, U.S. federal or
state government, including the CADFI, the FRB, the FDIC, the CBRC, the SAFE or the respective
staffs thereof.

     “SAFE” means the State Administration of Foreign Exchange, a Chinese Governmental Entity.

     “SEC Documents” means, collectively, all forms, reports and documents required to be filed by
Issuer with the SEC since December 31, 2004, including (i) any Annual Reports on Form 10-K, (ii)
any Quarterly Reports on Form 10-Q, (iii) any proxy statements relating to Issuer’s meetings of
stockholders (whether annual or special) and (iv) any other forms, reports and other registration
statements required to be filed by Issuer with the SEC, as such documents may be amended since the
time of their filing.

     “SEC” means the U.S. Securities and Exchange Commission.

     “Second Closing Date” means the date of the Second Closing.

     “Second Closing” means the closing of the transaction resulting in Buyer acquiring the Step
Two Buyer Percentage.

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

     “Shareholder Rights Plan” means the rights agreement dated January 28, 2003 between Issuer and
Mellon Investor Services LLC, as it may be amended from time to time.

     “Step One Average Closing Price” means $17.79, which was the Average Closing Price for the 90
trading days immediately preceding September 29, 2007.

     “Step One Date” means the fifth Business Day prior to the First Closing Date.

     “Step One KRX Index” means the KRX Index on the trading day immediately preceding the date of
this Agreement.

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     “Step One Outstanding Shares” means the total number of shares of Common Stock outstanding on
the Step One Date.

     “Step Three Average Closing Price” means the Average Closing Price for the 90 trading days
preceding the Step Three Baseline Date.

     “Step Three Baseline Date” means the fifth Business Day prior to the Third Closing Date.

     “Step Three Buyer Outstanding Shares” means the total number of shares of Common Stock
Beneficially Owned by Buyer on the Step Three Baseline Date.

     “Step Three Buyer Percentage” means a Buyer Percentage of 20.0%.

     “Step Three KRX Index” means the KRX Index on the Step Three Baseline Date.

     “Step Three Outstanding Shares” means the total number of shares of Common Stock outstanding
on the Step Three Baseline Date.

     “Step Three Purchase Price” has the meaning given such term in Section 2.03(d) hereto, which
price may be adjusted pursuant thereto.

     “Step Three Shares” means the number of shares of Common Stock equal to:

	 	 	 
	1.25(Y x 0.20 - Z)
	 
	 	 
	where:

	 	Y = Step Three Outstanding
Shares”
	 

	 	Z = Step Three Buyer Outstanding Shares

     “Step Two Average Closing Price” means the Average Closing Price for the 90 trading days
preceding the Step Two Baseline Date.

     “Step Two Baseline Date” means the fifth Business Day prior to the Second Closing Date.

     “Step
Two Buyer Outstanding Shares” means the total number of shares of Common Stock
Beneficially Owned by Buyer on the Step Two Baseline Date.

     “Step Two Buyer Percentage” means a Buyer Percentage of 9.9%.

     “Step Two KRX Index” means the KRX Index on the Step Two Baseline Date.

     “Step
Two Outstanding Shares” means the total number of shares of Common Stock outstanding on
the Step Two Baseline Date.

     “Step Two Purchase Price” has the meaning given such term in Section 2.02(c) hereof, which
price may be adjusted pursuant thereto.

     “Step Two Shares” means the number of shares of Common Stock equal to:

	 	 	 
	1.1099(Y x 0.099 - Z)
	 
	 	 
	where:

	 	Y = Step Two Outstanding Shares
	 

	 	Z = Step Two Buyer Outstanding Shares

     “Subsidiary” means, with respect to any Person, any entity of which securities or other
ownership interests having ordinary voting power to elect a majority of the board of directors or
other persons performing similar functions are at the time indirectly or indirectly owned by such
Person.

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     “Third Closing Date” means the date of the Third Closing.

     “Third Closing” means the closing of the transaction resulting in Buyer acquiring the Step
Three Buyer Percentage

     “Treasury Stock” means shares of Common Stock that are classified as treasury stock in
accordance with GAAP.

     “UCB” means United Commercial Bank, a California state-chartered bank and a wholly owned
Subsidiary of Issuer.

ARTICLE II.

PURCHASE AND SALE

     Section 2.01 Initial Purchase and Sale. Upon the terms and subject to the conditions of
this Agreement, at the First Closing, Issuer shall sell to Buyer, and Buyer shall purchase from
Issuer, the Initial Shares. The purchase price for the Initial Shares shall be (i) the Step One
Average Closing Price multiplied by (ii) the number of the Initial Shares (the “Initial Purchase
Price”). The Initial Purchase Price shall be paid as provided in Section 2.04.

Section 2.02 Second Step Purchase by Buyer.

     (a) Following the First Closing and subject to the terms and conditions of this
Agreement, including Section 2.02(b) and Section 6.0l(a)(ii), (i) Buyer shall purchase from
Issuer or from one or more third parties designated by Issuer, and (ii) Issuer shall (x)
issue and sell to Buyer and/or (y) introduce Buyer, pursuant to Section 2.05, to third
parties who may offer to sell to Buyer, the aggregate number of shares of Common Stock that,
after giving effect to such purchase(s), result in the Buyer Percentage being equal to the
Step Two Buyer Percentage. Subject to Section 2.02(b), the proportions of shares of Common
Stock issued and sold by Issuer (the “Step Two Primary Issuance”) and purchased from third
parties (“Step Two Secondary Transactions”) shall be determined by Issuer. Issuer shall (A)
in the case of Step Two Secondary Transactions provide Buyer notice of the identity of such
third party or parties, including contact information no later than sixty (60) days prior to
March 31, 2008, and (B) in the case of the Step Two Primary Issuance, complete such
issuances by the later of March 31, 2008 and 10 Business Days following receipt of the
regulatory approval, if any, referred to in Section 6.0l(a)(ii); provided, however, that
either party shall have the right to elect to extend the date referred to in (A) above to
sixty (60) days prior to December 31, 2008 and the date referred to in (B) above to December
31, 2008, with such election to be made by prior written notice to the other party on or
before January 31, 2008. Buyer and Issuer shall comply with all applicable laws, including,
but not limited to, US regulatory and securities laws, in connection with such purchases. In
the event that the Buyer Percentage becomes equal to the Step Two Buyer Percentage as a
result only of Step Two Secondary Transactions and no Step Two Primary Issuance, Buyer
shall, within 5 Business Days of Buyer achieving the Step Two Buyer Percentage, provide
notice in writing to Issuer indicating the number of shares of Common Stock acquired by
Buyer in such Step Two Secondary Transactions. The Second Closing shall be deemed to have
taken place on Issuer’s receipt of such notice (a “Step Two Deemed Closing”).

     (b) The Buyer shall be under no obligation to purchase Common Stock in Step Two
Secondary Transactions pursuant to Section 2.02(a), and Issuer shall be obligated to

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issue to Buyer the Step Two Shares by the later of (i) March 31, 2008 or December 31,
2008, as the case may be, and (ii) 10 Business Days following receipt of the confirmation or
completion of the registration, as the case may be, referred to in Section 6.01(a)(ii),
if (A) Issuer does not introduce such third party or parties to Buyer at least sixty (60)
days’ prior to either March 31, 2008 or December 31, 2008, as the case may be, as provided
for in Section 2.02(a), or (B) Buyer determines in its sole discretion that Step Two
Transactions cannot be entered into on terms satisfactory to Buyer.

     (c)
The purchase price for the Step Two Shares, if issued in a Step Two
Primary Issuance, shall be the Step Two Average Closing Price
multiplied by the Step Two Shares (the “Step Two Purchase
Price”); provided that the Step Two Purchase Price may be adjusted by multiplying it by 1.05 if:

x
is not greater than y, where “x”
equals:

Step Two Average Closing Price — Step One Average Closing Price

Step One Average Closing Price

and
“y” equals:

	 	 	 
	Step Two KRX Index — Step One KRX Index	 	+ 0.20
	 	 	 
	Step One KRX Index	 	 

     The Step Two Purchase Price shall be paid as provided in Section 2.04.

Section 2.03 Third Step Purchase by Buyer.

     (a) Following the Second Closing and subject to the terms and conditions of this Agreement,
including compliance with Section 6.0l(a)(iii):

     (i) Buyer shall have the right, but not the obligation, by notice in writing to Issuer
delivered no later than April 30, 2009, to request (a “Buyer Request”) that Issuer (A) issue
and sell to Buyer and/or (B) introduce Buyer, pursuant to Section 2.05, to third parties who
may offer to sell to Buyer, in each case, the aggregate number of shares of Common Stock
that, after giving effect to such purchase(s), will result in the Buyer Percentage being
equal to the Step Three Buyer Percentage. Buyer’s rights under this Section 2.03(a)(i) shall
expire if Buyer does not deliver a Buyer Request to Issuer involving either (i) the
purchases of shares of Common Stock from third parties (such purchases from third parties,
“Step Three Secondary Transactions”) or (ii) the issuance by Issuer of shares of Common
Stock to Buyer (the “Step Three Primary Issuance”) on or before April 30, 2009. Issuer shall
have the right, but not the obligation, to accept the Buyer Request (an “Issuer
Acceptance”), which Issuer Acceptance shall be delivered in writing to Buyer no later than
10 Business Days following delivery by Buyer of the Buyer Request. If (x) Issuer rejects the
Buyer Request, (y) Issuer does not deliver the Issuer Acceptance within such 10 Business Day
period, or (z) the Third Closing does not occur on or before June 30, 2009 (which date shall
be automatically extended to the date which is 10 Business Days following completion of the
registration referred to in Section 6.01(a)(iii) if such registration has been initiated but
has not been completed by June 30,

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2009; provided, however, that in no event shall the Third Closing be extended beyond
September 30, 2010, after which date neither party shall be obligated to consummate the
Third Closing), each party’s rights under this Section 2.03(a)(i) shall expire. Buyer may
specify in a Buyer Request, and Issuer may (but is under no obligation to) accept in its
Issuer Acceptance delivered in respect of such Buyer Request, that in the event Buyer is
unable to consummate Step Three Secondary Transactions with third parties introduced to
Buyer pursuant to this Section 2.03(a)(i), Buyer shall accept a Step Three Primary Issuance
from Issuer, with such Step Three Primary Issuance to be completed at such time as the
parties may mutually agree in writing.

     (ii) Issuer shall have the right, but not the obligation, by notice in writing to Buyer
delivered no later than April 30, 2009, to request (an “Issuer Request”) that Issuer (i)
issue and sell to Buyer and/or (ii) introduce Buyer, pursuant to Section 2.05, to third
parties who may offer to sell to Buyer, in each case, the aggregate number of shares of
Common Stock that, after giving effect to such purchase(s), will result in the Buyer
Percentage being equal to the Step Three Buyer Percentage. If Issuer does not deliver the
Issuer Request to Buyer on or before April 30, 2009, Issuer’s rights under this Section
2.03(a)(ii) shall expire. Buyer shall have the right, but not the obligation, to accept the
Issuer Request (a “Buyer Acceptance”), which Buyer Acceptance shall be delivered in writing
to Issuer no later than 10 Business Days following delivery by Issuer of the Issuer Request.
If (x) Buyer rejects the Issuer Request, (y) Buyer does not to deliver the Buyer Acceptance
within such 10 Business Day period, or (z) the Third Closing does not occur on or before
June 30, 2009 (which date shall be automatically extended to the date which is 10 Business
Days following completion of the registration referred to in Section 6.01(a)(iii) if such
registration has been initiated but has not been completed by June 30, 2009; provided,
however, that in no event shall the Third Closing be extended beyond September 30, 2010,
after which date neither party shall be obligated to consummate the Third Closing), each
party’s rights under this Section 2.03(b)(ii) shall expire. Issuer may specify in an Issuer
Request, and Buyer may (but is under no obligation to) accept in its Buyer Acceptance
delivered in respect of such Issuer Request, that in the event Buyer is unable to consummate
Step Three Secondary Transactions with third parties introduced to Buyer pursuant to this
Section 2.03(a)(ii), Issuer shall conduct a Step Three Primary Issuance in favor of Buyer,
with such Step Three Primary Issuance to be completed at such time as the parties may
mutually agree in writing.

     (b) Issuer shall (i) in the case of Step Three Secondary Transactions, provide Buyer notice of
the identity of such third party or parties, including contact information, on or before April 30,
2009, or (ii) in the case of the Step Three Primary Issuance, complete such issuances on or before
June 30, 2009 (which date shall be automatically extended to the date which is 10 Business Days
following completion of the registration referred to in Section 6.01(a)(iii) if such registration
has been initiated but has not been completed by June 30, 2009; provided, however, that in no event
shall the Third Closing be extended beyond September 30, 2010, after which date neither party shall
be obligated to consummate the Third Closing); provided, however, that in the event of a Step Three
Primary Issuance, if the Step Three Buyer Outstanding Shares (without giving effect to such Step
Three Primary Issuance) consist of only the Step One Shares, the Step Two Shares and adjusted
shares issued by Issuer from time to time pursuant to Section 2.4 of the Investor’s Rights
Agreement, the Step Three Shares shall be adjusted by subtracting 100 shares of Common Stock
therefrom (so adjusted, the “Adjusted Step Three Shares”), and the

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purchase by the Buyer of the said 100 shares of Common Stock shall be effected from third
parties in the manner as described in item (i) above. Subject to the other terms of this Section
2.03, the proportion of shares of Common Stock issued in the Step Three Primary Issuance and
purchased in Step Three Secondary Transactions shall be determined by Issuer. Buyer shall comply
with all applicable laws, including, but not limited to, US regulatory and securities laws, in
connection with such purchases. In the event that the Buyer Percentage becomes equal to the Step
Three Buyer Percentage as a result only of Step Three Secondary Transactions and no Step Three
Primary Issuance, Buyer shall, within 5 Business Days of Buyer achieving the Step Three Buyer
Percentage, provide notice in writing to Issuer indicating the number of shares of Common Stock
acquired by Buyer in such Step Three Secondary Transactions. The Third Closing shall be deemed to
have taken place on Issuer’s receipt of such notice (a “Step Three Deemed Closing”).

     (c) Buyer’s issuance of a Buyer Request pursuant to Section 2.03(a)(i), or acceptance of an
Issuer Request pursuant to Section 2.03(a)(ii), in respect of Step Three Secondary Transactions
shall not obligate Buyer to consummate purchases with such third parties on terms that are not
satisfactory, as determined by Buyer in its sole discretion.

     (d) If issued in a Step Three Primary Issuance, the purchase price for the Step Three Shares
or the Adjusted Step Three Shares, as the case may be, shall be the Step Three Average Closing
Price multiplied by the Step Three Shares or the Step Three Adjusted Shares, as the case may be,
(“Step Three Purchase Price”); provided that the Step Three Purchase Price may be adjusted as
follows:

	 	•	 	The Step Three Purchase Price shall be adjusted by multiplying it by 1.15, if x-1 is
not greater than y-1;
	 
	 	•	 	The Step Three Purchase Price shall be adjusted by multiplying it by 1.10, if x-1 is
greater than y-1, but not greater than y-2; or
	 
	 	•	 	The Step Three Purchase Price shall be adjusted by multiplying it by 1.05, if x-1 is
greater than y-2, but not greater than y-3.

Where “x-1” equals:

	 	 	 
	Step Three Average Closing Price — Step One Average Closing Price	 	 
	 	 	 
	Step One Average Closing Price	 	 

“y-1” equals:

	 	 	 
	Step Three KRX Index — Step One KRX Index	 	+ 0.20
	 	 	 
	Step One KRX Index	 	 

“y-2” equals:

	 	 	 
	Step Three KRX Index — Step One KRX Index	 	+ 0.35
	 	 	 
	Step One KRX Index	 	 

“y-3” equals:

	 	 	 
	Step Three KRX Index — Step
One KRX Index
	 	+ 0.50
	 	 	 
	Step One KRX Index	 	 

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     The Step Three Purchase Price shall be paid as provided in Section 2.04.

     Section 2.04 Closing. The Initial Closing, the Second Closing, and the Third Closing, if any
(each a “Closing”), hereunder, other than a Deemed Closing shall take place at the offices of
Squire Sanders & Dempsey L.L.P., One Maritime Plaza, Suite 300, San Francisco, California, as soon
as possible, but in no event later than ten Business Days after satisfaction of the conditions set
forth in Article VI (other than those conditions which by their nature are to be satisfied at such
Closing) with respect to the respective purchase and sale of the Initial Shares, the Step Two
Shares and the Step Three Shares, or at such other time or place as Buyer and Issuer may agree. At
any Closing that is not a Deemed Closing:

     (a) Buyer shall deliver to Issuer the Initial Purchase Price, the Step Two Purchase Price or
the Step Three Purchase Price as the respective Closing may require, in immediately available funds
by wire transfer to an account of Issuer designated by Issuer, by notice to Buyer, which notice
shall be delivered not later than two Business Days prior to the respective Closing Date (or if not
so designated, then by certified or official bank check payable in immediately available funds to
the order of Issuer in such amount);

     (b) Issuer shall deliver a receipt for the Initial Purchase Price, the Step Two Purchase Price
or the Step Three Purchase Price, as applicable; and

     (c) Issuer shall issue or transfer the Initial Shares, the Step Two Shares and the Step Three
Shares, as the case may be, to Buyer through the delivery of certificates duly endorsed or
accompanied by stock powers duly endorsed in blank, with any required transfer stamps affixed
thereto, or by means of a customary DTC electronic transfer, as applicable.

     Any
Deemed Closing shall be deemed to take place pursuant to
Section 2.02(a) or 2.03(b), as
applicable. A Deemed Closing shall not be construed as a waiver by Buyer of any failure of Issuer
to comply with its obligations under this Agreement including under Article 5.

     Section 2.05 Secondary Transactions. During the course of this Agreement, Issuer shall introduce to
the Buyer any third party who expresses to Issuer an unsolicited interest to sell some or all of
their shares of Common Stock. Notwithstanding anything contained herein, all purchases by Buyer of
Common Stock from Persons other than Issuer shall be effected by Buyer in accordance with and
pursuant to the requirements of all applicable laws, including, but not limited to, US federal and
state securities laws.

     Section 2.06 Ownership Information. Buyer shall deliver to Issuer within five Business Days after
any acquisition of a number of shares of Common Stock equal to 1% or more of the issued and
outstanding shares of Common Stock of Issuer in a privately-negotiated transaction as provided
herein, an accurate report specifying the number of shares of Common Stock acquired in such
transaction and the total number of shares of Common Stock Beneficially Owned by Buyer after giving
effect to such transaction. In addition, upon the reasonable request of Issuer, Buyer shall within
five Business Days deliver to Issuer a written notice specifying the number of shares of Common
Stock then Beneficially Owned by Buyer.

Section 2.07 Dividends, Etc. (a) Issuer covenants and agrees that between the Step One Date and the
First Closing, it shall not:

     (i) issue any Equity Securities other than pursuant to Issuer Options that are outstanding at
the date hereof under Issuer Option Plans or that are granted after the date hereof in the ordinary
course of business consistent with the past practice and Issuer Option Plans;

10

 

     (ii) split, divide, subdivide, consolidate, reclassify or recapitalize any shares of Capital
Stock or conduct other similar transaction;

     (iii) issue (or agree or commit to issue) any shares of Capital Stock in connection with
mergers and acquisitions or similar transactions; and

     (iv) issue stock appreciation right or other similar instrument, including restricted shares,
granted to officers, directors, employees, consultants or others.

     (b) The Step One Average Price, Step Two Average Price and Step Three Average Price, as
applicable, shall be adjusted to reflect appropriately the effect on the trading price of the
Common Stock resulting from any stock split, reverse stock split, stock dividend (including any
dividend or distribution of securities convertible into Equity Securities), extraordinary cash
dividends, reorganization, recapitalization, reclassification, combination, exchange of shares or
other like change with respect to the Common Stock that occurs, or a record date for which occurs,
during the 90-trading day period referred to in the definitions of Step One Average Price, Step Two
Average Price and Step Three Average Price.

ARTICLE
III.

REPRESENTATIONS AND WARRANTIES OF ISSUER

Except as set forth in the Issuer Disclosure Schedule, Issuer hereby represents and warrants to
Buyer, as of the date hereof and as of each Closing Date, as follows:

     (a) Corporate
Organization. Issuer is a corporation duly organized, validly existing and in
good standing under the laws of the State of Delaware. Issuer (a) has all requisite power and
authority to own, operate or lease all of its properties and assets and to carry on its business as
it has been and is now being conducted, and (b) is duly licensed or qualified to do business in
each jurisdiction in which the nature of the business conducted by it or the character or location
of the properties and assets owned or leased by it makes such licensing or qualification necessary,
except where the failure to be so licensed or qualified would not (i) prevent or delay Issuer from
performing its obligations hereunder. (ii) adversely affect the ability of Issuer to consummate the
transactions contemplated hereby or (iii) have a Material Adverse Effect. Issuer is registered with
and supervised by the FRB as a bank holding company under the Bank Holding Company Act of 1956, as
amended. The certificate of incorporation and bylaws of Issuer, copies of all of which have
previously been made available to Buyer, are true and correct and complete copies of such documents
as in effect as of the date of this Agreement.

Section 3.02 Subsidiaries.

     (a) The SEC Documents set forth a true and complete list of all of Issuer’s Subsidiaries,
listing for each Subsidiary its name, type of entity, the jurisdiction of its incorporation or
organization and the percentage of each class or series of its equity securities owned by Issuer or
Subsidiary.

     (b) UCB is a commercial bank duly organized and validly existing under the Laws of the State
of California, and duly licensed by the CADFI. The deposits of UCB are insured by the FDIC to the
fullest extent permitted in the FDIC, and all premiums and assessments required to be paid in
connection therewith have been paid when due. Issuer is the legal and Beneficial Owner of all of
the issued and outstanding equity securities of UCB.

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     (c) Each of Issuer’s Subsidiaries that is a corporation: (i) is a corporation duly organized,
validly existing and in good standing under the laws of its jurisdiction of incorporation (ii) has
all requisite power and authority to own, operate or lease all of its properties and assets and to
carry on its business as it has been and is now being conducted, and (iii) is duly licensed or
qualified to do business in each jurisdiction in which the nature of the business conducted by it
or the character or location of the properties and assets owned or leased by it makes such
licensing or qualification necessary, except where the failure to be so licensed or qualified would
not (i) prevent or delay Issuer from performing its obligations hereunder, (ii) adversely affect
the ability of Issuer to consummate the transactions contemplated hereby or (iii) have a Material
Adverse Effect. Each of Issuer’s Subsidiaries that is not a corporation: (i) is duly organized,
validly existing and in good standing under the laws of its jurisdiction of organization, (ii) has
all necessary power and authority to own, operate or lease the properties and assets owned,
operated or leased by such Subsidiary and to carry on its business as it has been and is currently
conducted by such Subsidiary and (iii) is duly licensed or qualified to do business and is in good
standing in each jurisdiction in which the properties owned or leased by it or the operation of its
business makes such licensing or qualification necessary, except where the failure to be so
licensed or qualified would not (i) prevent or delay Issuer from performing its obligations
hereunder, (ii) adversely affect the ability of Issuer to consummate the transactions contemplated
hereby or (iii) have a Material Adverse Effect.

Section 3.03 Authority; No Violation.

     (a) Issuer has full power and authority to execute and deliver this Agreement and the
Ancillary Agreements and to consummate the transactions contemplated hereby and thereby. The
execution and delivery of this Agreement and the Ancillary Agreements and the consummation of the
transactions contemplated hereby and thereby have been duly and validly approved by the board of
directors of Issuer pursuant to applicable law, and no other corporate proceedings on the part of
Issuer or its Subsidiaries are necessary to approve this Agreement and to consummate the
transactions contemplated hereby. This Agreement has been, and the Ancillary Agreements will be,
duly and validly executed and delivered by Issuer (assuming due authorization, execution and
delivery by Buyer). This Agreement constitutes, and the Ancillary Agreements will constitute, valid
and binding obligations of Issuer, enforceable against Issuer in accordance with their respective
terms, except as enforcement may be limited by general principles of equity whether applied in a
court of law or a court of equity and by applicable bankruptcy, insolvency and similar laws
affecting creditors’ rights and remedies generally.

     (b) Neither the execution and delivery of this Agreement or the Ancillary Agreements by
Issuer, nor compliance by Issuer with any of the terms or provisions hereof or thereof, will (i)
violate any provision of the certificate of incorporation or bylaws of Issuer or the respective
organizational documents of its Subsidiaries, or (ii) assuming that the consents and approvals
referred to in Section 3.04 are duly obtained, (x) violate any statute, code, ordinance, rule,
regulation, judgment, order, writ, decree or injunction applicable to Issuer or any of its
Subsidiaries or any of their respective properties or assets, or (y) violate, conflict with, result
in a breach of any provision of or the loss of any benefit under, constitute a default (or an event
which, with notice or lapse of time, or both, would constitute a default) under, result in the
termination of or a right of termination or cancellation under, accelerate the performance required
by, or result in the creation of any Lien upon, any of the respective properties or assets of
Issuer or any its Subsidiaries under, any of the terms, conditions or provisions of any note,

12

 

bond, mortgage, indenture, deed of trust, license, lease, contract, agreement or other
instrument or obligation to which Issuer or any its Subsidiaries is a party, or by which they or
any of their respective properties or assets may be bound or affected except (in the case of clause
(y) above) for such violations, conflicts, breaches or defaults which either individually or in the
aggregate would not (i) prevent or delay Issuer from performing its obligations hereunder (ii)
adversely affect the ability of Issuer to consummate the transactions contemplated hereby or (iii)
have a Material Adverse Effect.

Section 3.04 Consents and Approvals. Except for the (a) applications for Requisite Regulatory
Approvals (as defined in Section 6.01(a) below), (b) filings evidencing compliance with applicable
state and federal securities laws, and (c) such filings, authorizations or approvals as may be set
forth in Section 3.04 of the Issuer Disclosure Schedule, no consents, approvals, authorizations,
orders, filings or registrations with any Governmental Entity or with any third party are necessary
in connection with the execution, delivery and performance by Issuer of this Agreement or the
Ancillary Agreements or the consummation transactions contemplated hereby or thereby. No vote of
any stockholders of Issuer is required to approve this Agreement or the Ancillary Agreements or to
consummate the transactions contemplated hereby or thereby.

Section 3.05 Broker’s Fees. None of Issuer or any of Issuer’s officers or directors, has employed
any broker or finder or incurred any liability for any broker’s fees, commissions or finder’s fees
in connection with any of the transactions contemplated by this Agreement, except that Issuer has
engaged Merrill Lynch, Pierce, Fenner & Smith, Inc. (“Merrill Lynch”) as its financial advisor and
will pay certain fees to Merrill Lynch.

Section 3.06 Approvals. As of the date of this Agreement, except for (i) any required bank holding
company or change in bank control notice or application, (ii) any required SAFE approval and (iii)
any required CBRC approval, Issuer knows of no reason why all regulatory approvals from any
Governmental Entity required for the consummation of the transactions contemplated hereby should
not be obtained on a timely basis or would result in any such approval containing any condition or
requirement that could reasonably be expected to have, individually or in the aggregate, a Material
Adverse Effect.

Section 3.07
Legal Proceedings. Issuer is not a party to any, and there are no pending or, to
Issuer’s knowledge, threatened, legal, administrative, or arbitral or other proceedings, claims,
actions or governmental or regulatory investigations of any nature that, individually or in the
aggregate, would (i) delay or prevent Issuer from performing its respective obligations hereunder,
(ii) adversely affect the ability of Issuer to consummate the transactions contemplated hereby
(iii) adversely affect the legality, validity or enforceability of this Agreement or the Ancillary
Agreements, or (iii) cause a Material Adverse Effect.

Section 3.08 Compliance with Applicable Law. Issuer and each of Issuer’s Subsidiaries:

     (a) have conducted and continue to conduct their business in compliance in all material
respects, with all applicable federal, state, local and foreign statutes, laws, regulations,
ordinances, permits, licenses, franchises, certificates of authority, rules, judgments, orders or
decrees applicable thereto or to the employees conducting such businesses, including, but not
limited to, if and to the extent applicable, the Exchange Act, the Securities Act, the Riegle-Neal
Interstate Banking and Branching Efficiency Act of 1994, the Fair Credit Reporting Act, the
Electronic Fund Transfer Act, Fair Debt Collection Practices Act, Federal Deposit Reform Act of
2005, Federal Deposit Insurance Corporation Improvement Act of 1991 , the Sarbanes-Oxley

13

 

Act of 2002, the Bank Holding Company Act of 1956,
as amended, the Equal Credit Opportunity
Act, the Fair Housing Act, the Home Mortgage Disclosure Act, the Bank Secrecy Act, and all other
applicable fair lending and fair housing laws or other laws relating to discrimination (including,
without limitation, anti-redlining, equal credit opportunity and fair credit reporting),
truth-in-lending, real estate settlement procedures, adjustable rate mortgages disclosures or
consumer credit (including, without limitation, the federal Consumer Credit Protection Act, the
federal Truth-in Lending Act and Regulation Z thereunder, the federal Real Estate Settlement
Procedures Act of 1974 and Regulation X thereunder, and the federal Equal Credit Opportunity Act
and Regulation B thereunder) or with respect to the Flood Disaster Protection Act;

     (b) has
all permits, licenses, franchises, certificates, orders, and approvals of, and has
made all filings, applications, and registrations with, Governmental Entities that are required in
order to permit Issuer and each of Issuer’s Subsidiaries to carry on its business as currently
conducted;

     (c) has, since
December 31, 2004, received no notification or communication from any
Governmental Entity (i) asserting that Issuer or any of Issuer’s Subsidiaries is not in compliance
with any statutes, regulations or ordinances, (ii) threatening to revoke any permit, license,
franchise, certificate of authority or other governmental authorization, (iii) threatening or
contemplating revocation or limitation of, or which would have the effect of revoking or limiting,
UCB’s FDIC deposit insurance; and

     (d) 
Section 3.08 of the Issuer Disclosure Schedule provides a description of all material
violations asserted in writing and penalties imposed by any Regulatory Agency against Issuer or its
Subsidiaries since December 31, 2002.

     (e) is not a party to or subject to any order, decree, agreement, memorandum of understanding
or similar arrangement with, or a commitment letter, supervisory letter, resolution of Issuer’s
board of directors, or similar submission to, any Governmental Entity charged with the supervision
or regulation of depository institutions or engaged in the insurance of deposits (including, the
FDIC) or the supervision or regulation of Issuer or any of Issuer’s Subsidiaries and neither Issuer
nor any of Issuer’s Subsidiaries has been advised in writing by any such Governmental Entity that
such Governmental Entity is contemplating issuing or requesting (or is considering the
appropriateness of issuing or requesting) any such order, decree, agreement, memorandum of
understanding, commitment letter, supervisory letter or similar submission.

Section 3.09 Regulatory Reports. (a) Except as otherwise set forth in Section 3.09 of the Issuer
Disclosure Schedule, Issuer and each of Issuer’s Subsidiaries, have timely filed all reports,
registrations and statements, together with any amendments required to be made with respect
thereto, that they were required to file since December 31, 2004 with any Regulatory Agency
(collectively, the “Issuer Reports”) and have paid all fees and assessments due and payable in
connection therewith. Except for normal examinations conducted by a Regulatory Agency in the
regular course of the business of lssuer and Issuer’s Subsidiaries, no Regulatory Agency has
initiated any proceeding or, to the knowledge of Issuer, investigation into the business or
operations of Issuer or any of Issuer’s Subsidiaries since December 31, 2004. Except as set forth
in Section 3.09 of the Issuer Disclosure Schedule, there is no unresolved material violation,
criticism, or exception by any Regulatory Agency with respect to any report or statement relating
to any examinations of Issuer or any of Issuer’s Subsidiaries. Issuer has been and is in compliance
in all material respects with the applicable listing requirements of the NASDAQ.

14

 

Issuer has an appropriate insider trading policy in place and has established and applied
reasonable internal controls and procedures to ensure compliance with the insider trading policy.

     (b) The Issuer Reports have been, or will be, prepared in all material respects in accordance
with applicable regulatory accounting principles and practices, including, but not limited to, all
applicable rules, regulations and pronouncements of applicable Governmental Entities, throughout
the periods covered by such statements.

Section 3.10 Capitalization. (a) The authorized capital stock of Issuer consists of 180,000,000
shares of Common Stock and 10,000,000 shares of Preferred Stock. As of August 31, 2007, there were
(i) 103,781,630 shares of Common Stock issued and outstanding, (ii) no shares of Preferred Stock
outstanding, and (iii) options to acquire 14,481,395 shares of Common Stock outstanding pursuant to
the option plans described in Section 3.10 of the Issuer Disclosure Schedule (“Issuer Option
Plans”). All of the issued and outstanding shares of Common Stock have been duly authorized and
validly issued and are fully paid, nonassessable and free of preemptive rights, with no personal
liability attaching to the ownership thereof. The shares of Common Stock to be issued upon each
Closing have been duly authorized and, if and when issued upon each Closing, will be validly
issued, fully paid and nonassessable, and free of preemptive rights, with no personal liability
attaching to the ownership thereof. The exercise price of each option issued under Issuer Option
Plans (an “Issuer Option”) is no less than the fair market value of a share of Common Stock as
determined on the date of grant of such Issuer Option. All grants of Issuer Options were validly
issued and properly approved by the board of directors of Issuer (or a duly authorized committee or
subcommittee thereof) in material compliance with all applicable laws and recorded on Issuer’s
financial statements in accordance with GAAP, and no such grants involved any “back dating,”
“forward dating,” or similar practices with respect to the effective date of grant. Except for
Issuer Options, the Series A Participating Preferred Stock and the rights issuable pursuant to the
Shareholder Rights Agreement, Issuer does not have and is not bound by any outstanding
subscriptions, options, warrants, calls, arrangements, commitments or agreements of any character
calling for the purchase or issuance of any shares of Capital Stock or any other Equity Securities
of Issuer.

     (b) All the outstanding shares of capital stock owned by Issuer in its Subsidiaries’ are
validly issued, fully paid, nonassessable and, except with respect to wholly owned Subsidiaries,
free of preemptive rights, and are owned by Issuer of such Subsidiaries, as the case may be,
whether directly or indirectly, free and clear of all Liens. There are no options, warrants,
convertible securities or other rights, agreements, arrangements or commitments of any character
relating to the capital stock of any of Issuer’s Subsidiaries or obligating Issuer or any of its
Subsidiaries to issue or sell any shares of capital stock of, or any other interest in, any such
Subsidiary.

Section 3.11 Financial Statements.
(a) Issuer has previously made available to Buyer (i) copies of
the consolidated balance sheets of Issuer as of December 31 for the fiscal years 2004 through
2006, inclusive, and the related consolidated statements of operations, changes in stockholders’
equity and comprehensive income and cash flows for the fiscal years 2004 through 2006, inclusive,
as reported in Issuer’s Annual Reports on Form 10-K for the fiscal years ended December 31, 2005
and December 31, 2006 filed with the SEC under the Exchange Act, in each case accompanied by the
audit report of Issuer’s independent registered public accountants, (ii) unaudited consolidated
balance sheets of Issuer as of March 31, 2007 and June 30, 2007, and the related consolidated
statements of operations, changes in stockholders’ equity and

15

 

comprehensive income, and cash flows for the first two fiscal quarters of 2007, and (iii) restated
consolidated statements of cash flows as described in
Section 3.11 of the Issuer Disclosure
Schedule (collectively, the “Financial Statements”). Each of the Financial Statements (i) was
prepared in accordance with the books of account and other financial records of Issuer and its
Subsidiaries, (ii) presents fairly the consolidated financial condition and results of operations
of Issuer and its Subsidiaries as of the dates thereof or for the periods covered thereby in
accordance with GAAP, (iii) was prepared in accordance with GAAP applied on a basis consistent with
the past practices of Issuer and its Subsidiaries, and (iv) includes all adjustments (consisting,
except as otherwise described in the notes to the Financial Statements, only of normal recurring
accruals) that are necessary for a fair presentation of the consolidated financial condition of
Issuer and its Subsidiaries and the results of the operations of
Issuer and its Subsidiaries as of
the dates thereof or for the periods covered thereby. Except as set forth in the SEC Documents, the
consolidated financial statements of Issuer for the fiscal years 2004 through 2006 complied as to
form in all material respects with applicable accounting requirements and the published rules and
regulations of the SEC with respect thereto.

Section 3.12 Absence of Certain Changes or Events.

     (a) Since December 31, 2006, there has been no change or development or combination of
changes or developments which, individually or in the aggregate, has had a Material Adverse Effect.

     (b) Since December 31, 2006, each of Issuer and UCB has carried on its business only in the
ordinary and usual course consistent with its past practice.

Section 3.13 Absence of Undisclosed Liabilities. Except as set forth in Section 3.13 of the Issuer
Disclosure Schedule, there are no Liabilities of Issuer or its Subsidiaries, other than Liabilities
(a) reflected or reserved against in the Financial Statements, (b) arising under any contract which
is being performed by Issuer or any of its Subsidiary in accordance with its terms, or (c) incurred
since December 31 , 2006 in the ordinary course of business, consistent with past practice, of
Issuer and its Subsidiaries and which, with respect to this clause (c), do not and could not
reasonably be expected to have a Material Adverse Effect. Reserves are reflected in the Financial
Statements against all Liabilities of Issuer and its Subsidiaries in amounts that have been
established on a basis consistent with the past practices of Issuer and its Subsidiaries and in
accordance with GAAP. Neither Issuer nor UCB has knowingly made nor shall make any representation
or covenant in any agreement pursuant to which any loans or other assets have been or will be sold
by Issuer or UCB that contained or shall contain any untrue statement of a material fact or omitted
or shall omit to state a material fact necessary in order to make the statements contained therein,
in light of the circumstances under which such representations and/or covenants were made or shall
be made, not misleading. Other than any regular quarterly dividend by Issuer, no cash, stock or
other dividend or any other distribution with respect to Capital Stock has been declared, set aside
or paid, nor has any of Capital Stock been repurchased, redeemed or otherwise acquired, directly or
indirectly, by Issuer since December 31 , 2006.

Section 3.14 SEC Documents. Issuer has filed all forms, reports and documents required to be filed
by it with the SEC since December 31, 2004, including the SEC Documents. As of their respective
dates or, if amended, as of the date of the last such amendment, the SEC Documents (i) complied in
all material respects with the applicable requirements of the Securities Act or the Exchange Act,
as the case may be, and the rules and regulations of the SEC promulgated

16

 

thereunder applicable to such SEC Documents and (ii) did not, at the time they were filed (if an
amendment, being the date the amendment was filed), contain any untrue statement of a material fact
or omit to state a material fact required to be stated therein or necessary in order to make the
statements made therein, in the light of the circumstances under which they were made, not
misleading. No Subsidiary of Issuer is required to file any form, report or other document with the SEC.

ARTICLE IV.

REPRESENTATIONS
AND WARRANTIES OF BUYER

Buyer
hereby represents and warrant to Issuer, as of the date hereof and as of each Closing Date, as
follows:

Section 4.01
Requisite Power and Authority.
Buyer is a Chinese joint stock commercial bank duly
incorporated, validly existing and in good standing under the corporate and banking law of the
People’s Republic of China. Buyer has all requisite corporate power and authority to perform its
obligations contemplated hereunder. This Agreement has been, and the Ancillary Agreements will be,
duly and validly executed and delivered by Buyer, and (assuming due authorization, execution and
delivery by Issuer) this Agreement constitutes, and the Ancillary Agreements will constitute, a
valid and binding obligation of Buyer, enforceable against Buyer in accordance with its terms,
except as enforcement may be limited by general principles of equity whether applied in a court of
law or a court of equity and by bankruptcy, insolvency and similar laws affecting creditors’ rights
and remedies generally.

Section 4.02
Capitalization. To the knowledge of Buyer, as of the date of this Agreement, no shares
of capital stock of Buyer are directly owned by any Governmental Entity.

Section 4.03
Approvals. As of the date of this Agreement, except for (i) any required bank holding
company or change in bank control notice or application, (ii) any required SAFE approval and (iii)
any required CBRC approval, Buyer knows of no reason why all regulatory approvals from any
Governmental Entity required for the consummation of the transactions contemplated hereby should
not be obtained on a timely basis or would result in any such approval containing any condition or
requirement that could reasonably be expected to have, individually or in the aggregate, a Material
Adverse Effect.

Section 4.04
Financial Statements. The audited consolidated balance sheets of Buyer and its
Subsidiaries as of December 31 for the fiscal years 2004 through 2006, inclusive, and the related
consolidated statements of operations, changes in stockholders’ equity and comprehensive income and
cash flows for the fiscal years 2004 through 2006, all of which have been delivered to Issuer,
fairly present in all material respects the consolidated financial condition and consolidated
results of operations of Buyer and its Subsidiaries as of such dates and for such respective
periods in accordance with GAAP applied consistently throughout the periods covered thereby.

Section 4.05 Purchase Entirely for Own Account. Buyer acknowledges that Issuer is entering into
this Agreement with Buyer in reliance upon Buyer’s representation and warranty to Issuer that the
shares of Common Stock to be acquired by Buyer hereunder will be acquired for Buyer’s own account,
not as a nominee or agent. Any sale of such shares of Common Stock will be made

17

 

in compliance with applicable law and the terms and conditions of the Investor Rights Agreement.
Buyer does not presently have any contract, undertaking, agreement or arrangement with any Person
to sell, transfer or grant participations to such Person or to any other Person any of the shares
of Common Stock to be issued to Buyer hereunder.

Section 4.06 Disclosure of Information. Buyer has had an opportunity to discuss Issuer’s
businesses, management, financial affairs and the terms and conditions of the transaction
contemplated hereby (including, without limitation, the offering and issuance of shares of Issuer
Common Stock hereunder) with Issuer’s management and receive answers from Issuer’s management as
Buyer considers necessary in connection with the transaction contemplated hereby. Buyer (i) has
such knowledge and experience in financial and business matters as to be capable of evaluating the
merits and risks of its prospective investment in Issuer; (ii) has the ability to bear the economic
risk of loss of its entire investment resulting from the acquisition of the shares of Common Stock
to be issued hereunder; and (iii) has not been offered any securities of Issuer by any form of
advertisement, article, notice or other communication published in any newspaper, magazine, or
similar media or broadcast over television or radio, or any seminar or meeting whose attendees have
been invited by any such media.

Section 4.07 Restricted Securities. Buyer understands that the shares of Common Stock to be issued
hereunder have not been registered under the Securities Act, by reason of a specific exemption from
the registration provisions of the Securities Act which depends upon, among other things, the bona
fide nature of the investment intent and the accuracy of Buyer’s representations and warranties as
expressed herein. Buyer understands that the shares of Common Stock to be issued hereunder are
“restricted securities” under applicable U.S. federal and state securities laws and that, pursuant
to these laws, Buyer must hold the shares of Common Stock indefinitely until they are registered
with the SEC and qualified by state authorities, or an exemption from such registration and
qualification requirements is available.

Section 4.08 Accredited Investor. Buyer is an accredited investor as defined in Rule 501(a) of a
Regulation D promulgated under the Securities Act.

Section 4.09 Foreign Jurisdiction. Buyer has satisfied itself as to the full observance of the laws
of the People’s Republic of China in connection with its approval of the transactions contemplated
hereby, including (i) the legal requirements within this jurisdiction for its acquisition of the
shares of Common Stock to be issued hereunder, (ii) any foreign exchange restrictions applicable to
such acquisition of shares, (iii) any governmental or other consents that may need to be obtained,
and (iv) the income tax and other tax consequences, if any, that may be relevant to the purchase,
holding, redemption, sale, or transfer of the shares of Common Stock to be issued hereunder.
Buyer’s approval of the transactions contemplated hereby, and its acquisition and continued
beneficial ownership of the shares of Common Stock to be issued hereunder, will not violate any
applicable securities or other laws of Buyer’s jurisdiction.

Section 4.10 No Ownership. As of the First Closing, Buyer shall not Beneficially Own any Common
Stock other than the Initial Shares.

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ARTICLE V.

COVENANTS OF ISSUER AND BUYER

     Section 5.01 Conduct of Business.

     (a) Issuer covenants and agrees that, between the date hereof and the time of the First
Closing, neither Issuer nor any of its Subsidiaries shall conduct its business other than in the
ordinary course and consistent with Issuer’s and its Subsidiaries’ prior practice.

     (b) Except as otherwise contemplated by this Agreement or consented to in writing by Buyer,
during the period from the date of this Agreement to the First Closing Date, Issuer shall not, and
shall not permit its Subsidiaries to adopt or propose any change in its certificate of
incorporation or bylaws

     (c) Except as consented to in writing by Buyer, during the period from the date of this
Agreement to each Closing Date, Issuer shall not, and shall not permit its Subsidiaries to:

     (i) take any action or fail to take any action that is intended or may reasonably be
expected to result in any of its representations and warranties set forth in this Agreement
being or becoming untrue in any material respect, or in any of the conditions to such
Closing set forth in Article VI not being satisfied; or

     (ii) take any action or enter into any agreement that could reasonably be expected to
jeopardize or materially delay the receipt of any Requisite Regulatory Approvals or the
consummation of such Closing.

Section 5.02 All Reasonable Efforts. Subject to the terms and conditions of this Agreement, each
party agrees to cooperate fully with the other and to use all reasonable efforts to take, or cause
to be taken, all actions, and to do, or cause to be done, all things necessary, proper or advisable
to consummate and make effective, at the time and in the manner contemplated by this Agreement and
the Ancillary Agreements and the other transactions contemplated by this Agreement, including using
all reasonable efforts to lift or rescind any injunction or restraining order or other order
adversely affecting the ability of the parties to consummate any Closing and the other transactions
contemplated by this Agreement and the Ancillary Agreements. Between the date of this Agreement and
the Third Closing Date, Buyer shall notify and consult with Issuer prior to taking any steps to
increase the level of ownership of its outstanding equity securities by any Governmental Entity.

Section 5.03 Certain Filings. Each of Buyer and Issuer shall use all reasonable efforts to obtain
(or to enable the other of them or Issuer’s Subsidiaries to obtain) all the Requisite Regulatory
Approvals and all other authorizations, consents, orders and approvals of all Governmental Entities
that may be or become necessary for the performance by Issuer or Buyer of their respective
obligations pursuant to this Agreement and the Ancillary Agreements and will cooperate fully with
the other party in promptly seeking to obtain all such authorizations, consents, orders and
approvals. Each party hereto agrees to make promptly all appropriate filings and to supply as
promptly as practicable to the appropriate Govermnental Entities any additional information and
documentary material that may be requested in connection with obtaining the Requisite Regulatory
Approvals and all such other authorizations, consents, orders and approvals of all Governmental
Entities that may be or become necessary with respect to the transactions contemplated by this
Agreement and the Ancillary Agreements. Buyer will use all reasonable efforts to promptly obtain
all the required approvals from the SAFE.

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Section 5.04 Access to Information. From the date of this Agreement and through the First Closing,
upon reasonable notice, Issuer shall cause its officers, directors, employees, agents,
representatives, accountants and counsel, and shall cause its Subsidiaries and each of its
Subsidiaries’ officers, directors, employees, agents, representatives, accountants and counsel to:
(a) afford the officers, employees, agents, accountants, counsel, financing sources and
representatives of Buyer reasonable access, during normal business hours, to the offices,
properties, other facilities, books and records of Issuer and each of its Subsidiaries and to those
officers, directors, employees, agents, accountants and counsel of Issuer and of each of its
Subsidiaries who have any knowledge relating to Issuer, or any of its Subsidiaries and (b) furnish
to the officers, employees, agents, accountants, counsel and representatives of Buyer such
additional financial and operating data and other information regarding the assets, properties,
liabilities and goodwill of Issuer, its Subsidiaries and their respective businesses and strategic
plans and intentions (or legible copies thereof) as Buyer may from time to time reasonably request.

Section 5.05 Confidentiality. All confidential information furnished to a party or its advisor by a
party or its advisor in connection with the transactions contemplated hereby shall be subject to,
and the recipient of such information shall hold all such information in confidence in accordance
with, the provisions of the Confidentiality Agreement.

Section 5.06
Notification of Certain Matters. Each party shall give prompt notice to the others (and
subsequently keep the other parties informed on a current basis) upon its becoming aware of the
occurrence or existence of any fact, event or circumstance that (i) has resulted in or is
reasonably likely to result in any Material Adverse Effect, or (ii) would cause or constitute a
material breach of any of its representations, warranties, covenants or agreements contained
herein; provided, however, that the delivery of any notice pursuant to this Section 5.06 shall not
have any effect for the purpose of determining the satisfaction of the conditions set forth in
Article VI of this Agreement or otherwise limit or affect the remedies available to any such party
hereunder.

Section 5.07 Defensive Measures. Issuer shall (a) prior to the First Closing Date, take all actions
necessary so that any other Defensive Measures are rendered inapplicable to, or are otherwise
consistent with, and do not prevent Buyer from exercising its rights under, this Agreement and the
Ancillary Agreements and the transactions contemplated hereby, so long as such transactions are
consummated in accordance with this Agreement and the Ancillary Agreements and (b) not at any time
during the term of this Agreement adopt or impose any additional Defensive Measures that prevent
Buyer from exercising its rights under, this Agreement or the Ancillary Agreements and the
transactions contemplated hereby and thereby.

Section 5.08 Amendment to the Shareholder Rights Plan. Prior to the First Closing Date, Issuer
shall take all actions necessary to render the rights issued pursuant to the terms of the
Shareholder Rights Plan inapplicable to this Agreement and the transactions contemplated hereby, so
long as such transactions are consummated in accordance with this Agreement and the Ancillary
Agreements, which actions shall include obtaining an amendment, in form reasonably satisfactory to
Buyer, to the Shareholder Rights Plan.

Section 5.09 Amendment to Issuer’s Bylaws/Appointment of Directors. Issuer shall comply with the
provisions of Sections 6.1(a) and (b) of the Investor Rights Agreement.

20

 

ARTICLE VI.

CONDITIONS TO CLOSING

Section 6.01
Conditions to Obligations of Issuer and Buyer. The respective obligations of Issuer
and Buyer to consummate each Closing shall be subject to the satisfaction of the following
conditions:

     (a) Requisite Regulatory Approvals.

     (i) On or prior to the First Closing, Buyer and Issuer shall have completed
consultation with the FRB, the CADFI and the FDIC with regard to compliance of each of the
First, Second and Third Closings with the U.S. Federal Change in Bank Control Act, Bank
Holding Company Act, Sections 700-711 of the California Financial Code and any other
applicable Regulatory Agency requirement.

     (ii) On or prior to the Second Closing (x) Buyer shall have either (a) obtained
confirmation in form and substance satisfactory to Buyer from the FRB and the CADFI that
registration as a bank holding company or financial holding company under U.S. Federal Laws
and California State law is not legally required or (b) completed such registration and (y)
Buyer shall have filed a CIBC notice with the FRB or obtained prior written confirmation
that such notice is not legally required.

     (iii) On or prior to the Third Closing, Buyer shall have registered as a bank holding company
or financial holding company under U.S. Federal law and California State law, to the extent such
registration is required under applicable law or by the relevant Regulatory Agency.

     (iv) Prior to each Closing, Buyer and Issuer, as the case may be, shall have obtained any
other required action from a Regulatory Agency, including Buyer obtaining the required approvals
from the CBRC and the SAFE, as applicable.

     (All such approvals being referred to herein as the “Requisite Regulatory Approvals”).

     (b) Illegality. No statute, rule, regulation, order, injunction or decree shall have been
enacted, entered, promulgated or enforced by any Governmental Entity that prohibits, restricts or
makes illegal the consummation of such Closing.

     (c) Buyer’s Shareholder Approval. Prior to the Third Closing, Buyer shall have obtained
shareholder approval, if required, to complete the Third Closing in accordance with applicable law.

     (d) Prior Closing. For the avoidance of doubt, the parties hereby confirm that consummation of
the First Closing is a condition precedent to each of the Second and Third Closings and that the
consummation of the Second Closing is a condition precedent to the Third Closing.

Section 6.02 Conditions to Obligations of Buyer. The obligation of Buyer to consummate each Closing
is also subject to the satisfaction or waiver by Buyer at or prior to such Closing Date of the
following conditions:

     (a) Representations and Warranties. The representations and warranties of Issuer set forth in
this Agreement shall be true and correct as of the date of this Agreement and as of such Closing
Date as though made at and as of such Closing Date (except that representations and warranties that
by their terms speak specifically as of the date of this Agreement or some other

21

 

date shall be true and correct as of such date), in each case except where the failure of such
representations and warranties to be so true and correct (without giving effect to any limitations
as to “materiality” or “Material Adverse Effect” or similar qualification as to materiality set
forth therein), would not, individually or in the aggregate, have a Material Adverse Effect, and
Buyer shall have received a certificate, dated such Closing Date, signed on behalf of Issuer by the
Chief Executive Officer and the Chief Financial Officer of Issuer to such effect.

     (b) Performance of Obligations of Issuer. Issuer shall have performed in all material respects
all obligations required to be performed by it under this Agreement at or prior to such Closing
Date, and Buyer shall have received a certificate signed on behalf of Issuer by the Chief Executive
Officer and the Chief Financial Officer of Issuer to such effect.

     (c) Consents Under Agreements. All consents and approvals of all persons (other than the
Governmental Entities) required for consummation of such Closing shall have been obtained and shall
be in full force and effect, unless the failure to obtain any such consent or approval would not
reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect.

     (d) Amendment to the Shareholder Rights Plan. On or prior to the First Closing, Issuer and
Mellon Investor Services LLC shall have amended, in form reasonably satisfactory to Buyer, the
Shareholder Rights Plan to render the rights issued pursuant to the terms of the Shareholder Rights
Plan inapplicable to this Agreement and the transactions contemplated hereby, so long as such
transactions are consummated in accordance with this Agreement and the Ancillary Agreements.

     (e) No Proceeding or Litigation. No claim, action, suit, arbitration, inquiry, proceeding or
investigation shall have been commenced or threatened by or before any Governmental Entity against
either Issuer, UCB or Buyer seeking to restrain or materially and adversely alter the transactions
contemplated by this Agreement which, in the reasonable, good faith determination of Buyer, is
likely to render it impossible or unlawful to consummate such transactions or which could have a
Material Adverse Effect.

     (f) No Material Adverse Effect. There shall not exist, and no event or events shall have
occurred, which, individually or in the aggregate, have had a Material Adverse Effect on Issuer.

     (g) Amendment to Issuer’s Bylaws/Appointment of Director. As a condition to Buyer’s obligation
to consummate the Second Closing only, Issuer shall have complied with Section 6.1(a) of the
Investor’s Rights Agreement.

     (h) Investor’s Rights Agreement. On or prior to the First Closing, Issuer shall have executed
and delivered to Buyer the Investor’s Rights Agreement in the form attached hereto as Exhibit A.

Section 6.03 Conditions to Obligations of Issuer. The obligation of Issuer to consummate each
Closing is also subject to the satisfaction or waiver by Issuer at or prior to such Closing Date of
the following conditions:

(a) Representations and Warranties. The representations and warranties of Buyer set forth in
this Agreement shall be true and correct in all material respects as of the date of this
Agreement and as of such Closing Date as though made at and as of such Closing Date (except
that representations and warranties that by their terms speak specifically as of the date of
this Agreement or some other date shall be true and correct as of such date), and

22

 

issuer shall have received a certificate, dated such Closing Date, signed on behalf of Buyer
by the Chairman of the Buyer or his authorized signatory to such effect.

     (b) Performance of Obligations of Buyer. Buyer shall have performed in all material respects
all obligations required to be performed by it under this Agreement at or prior to such Closing
Date, and Issuer shall have received a certificate, dated such Closing Date, and signed on behalf
of Buyer by the Chairman of Buyer or his authorized signatory to such effect.

     (c) Consents Under Agreements. All consents and approvals of all persons (other than the
Governmental Entities) required for consummation of such Closing shall have been obtained and shall
be in full force and effect, unless the failure to obtain any such consent or approval would not
reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect on
Buyer or Issuer.

     (d) No Proceeding or Litigation. No claim, action, suit, arbitration, inquiry, proceeding or
investigation shall have been commenced or threatened by or before any Governmental Entity against
either Issuer, UCB or Buyer seeking to restrain or materially and adversely alter the transactions
contemplated by this Agreement which, in the reasonable, good faith determination of Issuer, is
likely to render it impossible or unlawful to consummate such transactions or which could have a
Material Adverse Effect.

     (e) No Material Adverse Effect. There shall not exist, and no event or events shall have
occurred, which, individually or in the aggregate, have had a Material Adverse Effect on Buyer.

     (f)) Investor’s Rights Agreement. On or prior to the First Closing, Buyer shall have executed
and delivered to Issuer the Investor’s Rights Agreement in the form attached hereto as Exhibit A.

     (g) Board Seat. Promptly after completion of the Second Closing, the board of directors of
Buyer shall have elected as director a person designated by Issuer who shall (i) be reasonably
acceptable to Buyer and (ii) have obtained any required approval from the CBRC, the CSRC and the
Shanghai Stock Exchange to serve as director on the board of Buyer.

Section 6.04 Third Closing. Without limiting the generality of the foregoing, the parties hereby
confirm that their respective obligations to consummate the Third Closing shall be specifically
subject to the satisfaction or waiver of (i) Buyer’s registration, if any, as a bank holding
company or financial holding company as set forth in Section 6.01(b)(iii) above and (ii) Buyer’s
shareholder approval as set forth in Section 6.01(c) above.

ARTICLE VII.

TERMINATI0N

Section 7.01 Termination. This Agreement may be terminated at any time prior to any Closing:

     (a) by mutual consent of Issuer and Buyer;

     (b)
by either Issuer or Buyer upon written notice to the other party (i) thirty (30) days after the date on which any request or application for a Requisite
Regulatory Approval shall have been denied, approved based on conditions reasonably unsatisfactory
to Issuer or Buyer or withdrawn at the request or recommendation of the

23

 

Governmental Entity that must grant such Requisite Regulatory Approval, unless within the
thirty (30)-day period following such denial, approval with reasonably unsatisfactory conditions to
Issuer or Buyer or withdrawal a petition for rehearing or an amended application has been filed
with the applicable Governmental Entity, or (ii) any Governmental Entity of competent jurisdiction
shall have issued a final nonappealable order enjoining or otherwise prohibiting the transactions
contemplated hereby; provided, however, that no party shall have the right to terminate this
Agreement pursuant to this Section 7.01(b) if such denial, approval with conditions reasonably
unsatisfactory to Issuer or Buyer, request, recommendation for withdrawal, order, injunction or
prohibition shall be due to the failure of the party seeking to terminate this Agreement to perform
or observe the covenants and agreements of such party set forth herein;

     (c) by either Issuer or Buyer (provided that the terminating party is not then in material
breach of any representation, warranty, covenant or other agreement contained herein) if there
shall have been a material breach of any of the representations or warranties set forth in this
Agreement by the other party, which breach is not cured within thirty (30) days following written
notice to the party committing such breach, or which breach, by its nature, cannot be cured prior
to such Closing; provided, however, that neither Issuer nor Buyer shall have the right to terminate
this Agreement pursuant to this Section 7.01(c) unless the breach of representation or warranty, together
with all other such breaches, would entitle the party receiving such representation not to
consummate the transactions contemplated hereby under
Section 6.02(a) (in the case of a breach of a
representation or warranty by Issuer) or Section 6.03(a) (in the case of a breach of a representation or
warranty by Buyer); or

     (d) by either Issuer or Buyer (provided that the terminating party is not then in material
breach of any representation, warranty, covenant or other agreement contained herein) if there
shall have been a material breach of any of the covenants or agreements set forth in this Agreement
on the part of the non-terminating party, which breach shall not have been cured within thirty (30)
days following receipt by the breaching party of written notice of such breach from the other party
hereto, or which breach, by its nature, cannot be cured prior to such Closing.

Section 7.02 Effect of Termination. In the event of termination of this Agreement by any party as
provided in Section 7.01, this Agreement shall forthwith become null and void and have no effect
except that Sections 5.05, 7.02 and 8.02 hereof shall survive any termination of this Agreement.

Section 7.03 Amendment. This Agreement may not be amended except by an instrument in writing signed
by duly authorized representatives on behalf of each of the parties hereto.

Section 7.04 Extension; Waiver. Issuer and Buyer, by action taken or authorized by the respective
boards of directors, may, to the extent legally allowed, (a) extend the time for the performance of
any of the obligations or other acts of the other party or the other party’s affiliates hereunder,
(b) waive any inaccuracies in the representations and warranties of the other party or the other
party’s affiliates contained herein or in any document delivered pursuant hereto, and (c) waive
compliance by the other party or the other party’s affiliates with any of its agreements contained
herein, or waive compliance with any of the conditions to its obligations hereunder. Any agreement
on the part of Issuer or Buyer to any such extension or waiver shall be valid only if set forth in
a written instrument signed by duly authorized representatives on behalf of such party, but such
extension or waiver or failure to insist on strict compliance with an

24

 

obligation, covenant, agreement or condition shall not operate as a waiver of, or estoppel with
respect to, any subsequent or other failure.

ARTICLE VIII.

MISCELLANEOUS

Section 8.01 Nonsurvival of Representations and Warranties, Covenants and Agreements. The
representations and warranties in this Agreement and in any instrument delivered pursuant to this
Agreement shall expire on and shall not survive each Closing Date. The covenants and agreements
contained in this Agreement which by their terms apply in whole or in part following a Closing
Date, shall survive each such Closing Date.

Section 8.02 Expenses. All costs and expenses incurred in connection with this Agreement and the
transactions contemplated hereby shall be paid by the party incurring such expense.

Section 8.03
Notices. All notices and other communications hereunder shall be in writing and shall
be deemed given if delivered personally, mailed by registered or certified mail (return receipt
requested), by facsimile or delivered by an express courier (with confirmation) to the parties at
the following addresses (or at such other address for a party as shall be specified by like
notice):

	 	(a)	 	if to Issuer, to:

UCBH Holdings, Inc.

555 Montgomery Street

San Francisco, CA 94111

Attention: Eileen Romero

                  Vice President and Corporate Secretary
Fax: (415) 986-0729

with copies (which shall not constitute notice to Issuer) to:

Squire, Sanders & Dempsey L.L.P.

One Maritime Plaza, Suite 300

San Francisco, CA 94111-3492

Attention: Nicholas Unkovic, Esq.

Fax: (415) 393-9887

and:

Merrill Lynch, Pierce, Fenner & Smith, Inc.

4 World Financial Center

New York, NY 10080

Attention: Venkat Badinehal

Fax: (212) 449-0019

25

 

	 	(b)	 	if to Buyer, to:

China Minsheng Banking Corp., Ltd

No.2 Fuxingmennei Avenue, Xicheng District

Beijing, 100031 China

Attention: Mao Xiaofeng

Secretary to the Board

Fax: (8610) 6846-6796

with copies (which shall not constitute notice to Buyer) to:

M&A Center

Board of Directors Strategic Development Committee

Room 710, Building No.8, Beijing Friendship Hotel

No.1 South Zhongguancun Street, HaidianDistrict

Beijing 100873 China

Attention: Liu Yang

Fax: (8610) 6846-6076

and:

Shearman & Sterling LLP

12th Floor East Tower, Twin Towers

B-12 Jianguomenwai Dajie

Beijing, 100022 China

Attention: Lee Edwards, Esq.

Fax: (8610) 6563-6000

Section 8.04 Interpretation. Whenever the words “include,” “includes” or “including” are used in
this Agreement, they shall be deemed to be followed by the words “without limitation.” Wherever the
term “knowledge” is used in this Agreement, it means the knowledge of such party after diligent
inquiry. Unless specified otherwise herein, the terms “Section,” “Schedule,” “Exhibit” and
“Appendix” refer to sections, schedules, exhibits and appendices attached to this Agreement,
respectively. The terms “hereof,” “herein,” “hereby” and “hereunder” and words of similar import
refer to this Agreement as a whole, including all appendices, exhibits and schedules hereto. The
phrases “the date of this Agreement,” “the date hereof’ and terms of similar import, unless the
context otherwise requires, shall be deemed to refer to the date set forth in the introductory
paragraph of this Agreement. Terms defined in the singular have a comparable meaning when used in
the plural and vice versa. The table of contents and headings contained in this Agreement are for
reference purposes only and shall not affect in any way the meaning or interpretation of this
Agreement. The parties have participated jointly in the negotiation and drafting of this Agreement.
In the event an ambiguity or question of intent or interpretation arises, this Agreement shall be
construed as if drafted jointly by the parties and no presumption or burden of proof shall arise
favoring or disfavoring any party by virtue of the authorship of any of the provisions of this
Agreement.

Section 8.05 Counterparts. This Agreement may be executed in counterparts, all of which shall be
considered one and the same agreement and shall become effective when counterparts have

26

 

been signed by each party hereto and delivered to the other party, it being understood that all
parties need not sign the same counterpart.

Section 8.06 Entire Agreement. This Agreement and the Ancillary Agreements, together with all
appendices, exhibits, schedules and other attachments hereto and thereto (including the documents
and the instruments referred to herein and therein, including, without limitation, the
Confidentiality Agreement), constitute the entire agreement and supersedes all prior agreements and
understandings, both written and oral, between the parties with respect to the subject matter
hereof and thereof. Notwithstanding the foregoing, any provision of the Confidentiality Agreement
or any other document or instrument referred to herein that conflicts with any provision of this
Agreement shall be superseded by the provisions hereof.

Section 8.07 Governing Law; Dispute Resolution. The formation, construction, and performance of
this Agreement, including the rights and duties of the parties hereunder, shall be construed,
interpreted, governed, applied and enforced in accordance with the laws of the State of California
applicable to agreements entered into and performed entirely in the State of California by
residents thereof, without regard to any provisions thereof relating to conflicts of laws among
different jurisdictions; provided, however, that this Section 8.07 shall be governed by and
interpreted in accordance with the Federal Arbitration Act of the
United States, 9 U.S.C. §§ 1 et
seq. Any dispute, claim, controversy or difference regarding the interpretation or validity or
performance of, or otherwise arising out of or relating to, this Agreement (“Dispute”), shall be
finally and conclusively decided by binding arbitration in accordance with the Rules of Arbitration
of the International Chamber of Commerce (“ICC”) by an Arbitral Tribunal consisting of three
arbitrators appointed in accordance with those Rules. The language of the arbitration shall be
English and Mandarin Chinese. The venue for the bearings of the arbitration shall be Hong Kong. The
parties shall bear in equal shares any fees and expenses of the Arbitral Tribunal and of the ICC;
provided that the Arbitral Tribunal shall have the authority to award, as part of the Arbitral
Tribunal’s decision, to the prevailing party its costs and expenses of the arbitration proceeding,
including reasonable attorneys’ and experts’ fees. The Arbitral Tribunal shall render its award
based on the explicit terms of this Agreement; and in instances where it is silent, on the basis of
strict principles consistent with the terms of the Agreement. The Arbitral Tribunal shall be bound
by strict rules of law in making its decision, and may not pronounce judgment on equitable
principles or the basis of ex aqueo et bono. The Arbitral Tribunal shall have the authority to
include in its award a decision binding upon the parties enjoining them to take or refrain from
taking specific action with respect to the Dispute or declaring their rights, responsibilities and
liabilities as to the Dispute. The Arbitral Tribunal shall state the reasons for its decision in
writing in the award it issues. Judgment on the award rendered by the Arbitral Tribunal may be
entered by any court having jurisdiction. Each of the parties hereby irrevocably submits to the
personal jurisdiction of, and irrevocably waives objection to the laying of venue (including a
waiver of any argument of forum non conveniens or other principles of like effect) in, the state
and federal courts located in San Francisco, California, USA and/or the courts of Hong Kong, for
the purposes of any action commenced in aid of an arbitration hereunder, or for entry of judgment
upon the Arbitral Tribunal’s award. Each of the parties consents that all service of process may be
made by delivery of the summons and complaint by certified or registered mail, return receipt
requested, or by messenger, directed to it at its address for notices set forth in Section 8.03
hereof, and that service so made shall be deemed to have been made as of the date of the receipt
indicated in the certification, signed and returned postal receipt, or other proof of service
applicable to the method of service employed.

27

 

Section 8.08 Enforcement of Agreement. The parties hereto agree that irreparable damage would occur
in the event that this Agreement were not performed in accordance with its specific terms or were
otherwise breached. It is accordingly agreed that the parties shall be entitled to an injunction or
injunctions to prevent breaches of this Agreement and to enforce specifically the terms and
provisions thereof in any court of the United States or any state having jurisdiction, and for that
purpose each party hereto irrevocably submits to the non-exclusive jurisdiction of the state and federal
courts located in San Francisco, California USA and irrevocably waives any objection to venue
(including hereby waiving any argument of forum non conveniens or principles of similar effect) in
such courts, this being in addition to any other remedy to which they are entitled at law or in
equity.

Section 8.09 Severability. Any term or provision of this Agreement that is invalid or unenforceable
in any jurisdiction shall, as to that jurisdiction, be ineffective to the extent of such invalidity
or unenforceability without rendering invalid or unenforceable the remaining terms and provisions
of this Agreement or affecting the validity or enforceability of any of the terms or provisions of
this Agreement in any other jurisdiction. If any provision of this Agreement is so broad as to be
unenforceable, the provision shall be interpreted to be only so broad as is enforceable.

     Section 8.10 Publicity. Except as otherwise required by law or by the rules of the NASDAQ or
the Shanghai Stock Exchange, so long as this Agreement is in effect, neither Issuer nor Buyer
shall, nor shall Issuer or Buyer permit any of their respective Subsidiaries to, issue or cause the
publication of any press release or other public announcement with respect to, or otherwise make
any public statement concerning, the transactions contemplated by this Agreement without the
consent of the other parties hereto, which consent shall not be unreasonably withheld, delayed or
conditioned.

     Section 8.11 Assignment; No Third Party Beneficiaries. Neither this Agreement nor any of the
rights, interests or obligations hereunder shall be assigned by any of the parties hereto (whether
by operation of law or otherwise) without the prior written consent of the other party; provided
that Buyer may assign this Agreement to a Subsidiary without the prior consent of Issuer. Subject
to the preceding sentence, this Agreement will be binding upon, inure to the benefit of and be
enforceable by, the parties and their respective heirs, administrators, executors, successors and
assigns. Except as otherwise expressly provided herein, this Agreement (including the documents and
instruments referred to herein) is not intended to confer upon any Person other than the parties
hereto any rights or remedies hereunder.

     Section 8.12 Fax Signatures. Any signature page hereto delivered by a fax machine or in
portable document format (pdf) by e-mail shall be binding to the same extent as an original
signature page, with regard to this Agreement, any agreement subject to the terms hereof or any
amendment hereto or thereto. Any party who delivers such a signature page agrees to later deliver
an original counterpart to any party that requests it.

     Section 8.11 Language. The parties confirm and agree that both the English and Chinese
versions of this Agreement shall have the same effect and be controlling in all respects and that
neither is prepared for reference or accommodation purposes.

[SIGNATURE PAGE FOLLOWS]

28

 

     IN WITNESS HEREOF, the parties hereto have caused this Agreement to be duly executed by their
respective authorized officers as the day and year first written above.

	 	 	 	 	 	 	 	 	 	 	 
	CHINA MINSHENG BANKING CORP., LTD.	 	UCBH HOLDINGS, INC.
	 
	 	 
	 	 	 	 	 	 	 	 
	By:
	 	 

	 	By:	 	 	 	 	 	 
	 	 	 

	 	 	 	 	 	 	 	 
	Name:
	 	 

	 	Name:	 	 	 	 	 	 
	 	 	 

	 	 	 	 	 	 	 	 
	Title:
	 	 

	 	Title:exv10w2

 

Exhibit 10.2

INVESTOR’S RIGHTS AND STANDSTILL AGREEMENT

THIS INVESTOR’S RIGHTS AND STANDSTILL AGREEMENT (this “Agreement”) is made and entered into as of
October 7, 2007, by and between UCBH Holdings, Inc., a Delaware corporation (the “Issuer”) and
China Minsheng Banking Corp., Ltd. a Chinese joint stock commercial bank (the “Buyer”).

RECITALS

     WHEREAS, Issuer and Buyer have entered into an Investment Agreement, dated as of October 7,
2007 (the “Investment Agreement”);

     WHEREAS, in order to induce Buyer to enter into the Investment Agreement, Issuer desires to
provide Buyer certain rights set forth in this Agreement with respect to the Subject Securities (as
defined below); and

     WHEREAS, in order to induce Issuer to enter into the Investment Agreement, Buyer has agreed to
comply with certain “lock up” and “standstill” restrictions with respect to the Subject Securities
on the terms and conditions set out in this Agreement.

AGREEMENT

NOW, THEREFORE, in consideration of the foregoing and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties agree hereto as follows:

          SECTION 1. DEFINITIONS

     1.1
Definitions. As used in this Agreement, the following terms have the following meanings:

          (a) “Affiliate” means, with respect to any Person at any time, any other Person directly or
indirectly controlling, controlled by, or under common control with such Person as of such time;
provided that, for the purposes of this Agreement, Buyer and its Affiliates shall not be Affiliates
of Issuer, and Issuer and its Affiliates shall not be Affiliates of Buyer.

          (b) “Beneficial Ownership” by a Person shall be interpreted in accordance with the term
“beneficial ownership” as defined in Rule 13d-3
promulgated under the Exchange Act; provided that
Buyer shall not be deemed to Beneficially Own any Common Stock subject to the Investment Agreement
prior to the purchase of such Common Stock by Buyer. For purposes of this Agreement, a Person shall
be deemed to Beneficially Own any securities that are Beneficially Owned by its Affiliates or any
Group of which such Person or any such Affiliate is or becomes a member. Notwithstanding the
foregoing, securities Beneficially Owned by Buyer and its Affiliates shall not include, for any
purpose under this Agreement, any Common Stock held by Buyer and its Affiliates (i) in trust for
the benefit of persons other than Buyer and its Affiliates; (ii) in managed, brokerage, custodial,
nominee or other customer accounts; (iii) in mutual funds, open- or closed-end investment funds or
other pooled investment vehicles sponsored, managed and/or advised or subadvised by Buyer or its
Affiliates; or (iv) by Affiliates of Buyer (or any division thereof) which are broker-dealers or
otherwise engaged in the securities business, provided that in each case, such securities were
acquired in the ordinary course of business of their respective banking, investment management and
securities business and not with the intent or purpose on the part of Buyer or its Affiliates of
influencing control of

1

 

Issuer or avoiding the provisions of this Agreement. The terms “Beneficially Own” and
“Beneficial Owner” shall have a correlative meaning.

          (c) “Board” shall mean the board of directors of Issuer.

          (d) “Business Day” shall mean a day, other than Saturday, Sunday or other day on which
commercial banks in San Francisco, California or Beijing, China are authorized or required by
applicable law to close.

          (e) “Buyer Percentage” shall mean, at any time, the ratio, expressed as a percentage of the
total Subject Securities Beneficially Owned by Buyer to the total number of issued and outstanding
shares of Common Stock.

          (f) “CADFI” shall mean the California Department of Financial Institutions.

          (g) “CBRC” shall mean the China Banking Regulatory Commission or its duly authorized local
branch, as the case may be, or any successors thereto.

          (h) “CSRC” shall mean the China Securities Regulatory Commission or its duly authorized local
branch, as the case may be, or any successors thereto.

          (i) “Capital Stock” shall mean, with respect to any Person at any time, any and all shares,
interests, participations or other equivalents (however designated,
whether voting or non-voting)
of capital stock, partnership interests (whether general or limited) or equivalent ownership
interests in or issued by such Person.

          (j) “Change of Control” shall mean, with respect to Person at any time, (a) the acquisition by
a person or Group (as defined below) of a majority of such Person’s outstanding voting securities,
(b) the sale of all or substantially all of such Person’s assets, or (c) the merger, consolidation,
dissolution, liquidation, reorganization, other corporate or similar transaction or series of
related transactions in which the owners of all of such Person’s outstanding voting securities
prior to such transaction do not own a majority of the voting securities of the resulting,
surviving or ultimate parent entity after such transaction. Notwithstanding the foregoing, a
transaction or series of related transactions shall not be considered to result in a Change of
Control effected solely for the purposes of changing the form or jurisdiction of organization of an
entity.

          (k) “Common Stock” shall mean common stock of Issuer, par value $0.01 per share.

          (I) “Control” (including the terms controlling, controlled by and under common control with)
shall mean the possession, direct or indirect, of the power to direct or cause the direction of the
management and policies of a Person, whether through the ownership of voting securities, by
contract or otherwise.

          (m) “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended.

          (n) “FDIC” shall mean the U.S. Federal Deposit Insurance Corporation.

          (o) “First Closing” shall mean the closing of the purchase and sale of the Initial Shares as
set forth in the Investment Agreement.

          (p) “FRB” shall mean the U.S. Federal Reserve Board.

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          (q) “GAAP” means the generally accepted accounting principles in the United States as in
effect from time to time.

          (r) “Group” shall have the meaning
set forth in Section  13(d)(3) of the Exchange Act.

          (s) “Initial Buyer Percentage” shall mean a Buyer Percentage of 4.9%.

          (t) “Initial Shares” shall mean the number of shares of Common Stock newly issued by Issuer
upon the First Closing pursuant to the Investment Agreement.

          (u) “Permitted Buyer Percentage” shall mean: (i) following the First Closing and until the
Second Closing, the Initial Buyer Percentage, as such Buyer Percentage may be adjusted from time to
time (A) as a result of purchases of Common Stock by Buyer in accordance with Section 2.02 of the
Investment Agreement, and (B) in accordance with Sections 2.3 and 2.4 hereof; (ii) following the
Second Closing and until the Third Closing, the Step Two Buyer Percentage, as such Buyer Percentage
may be adjusted from time to time (A) as a result of purchases of Common Stock by Buyer in
accordance with Section 2.03 of the Investment Agreement, if any, and (B) in accordance with
Sections 2.3 and 2.4 hereof; and (iii) following the Third Closing, the Step Three Buyer
Percentage.

          (v) “Person” shall mean an individual, corporation, partnership, limited liability company,
association, trust or other entity or organization.

          (w) “Prevailing Fair Market Value” shall mean, with respect to publicly traded securities, the
average daily closing price per share as quoted on the Nasdaq Global Select Market (or the
principal exchange or market on which such security may be listed or may trade) for such security
for the thirty (30) consecutive trading days commencing on the
fifth (5th) trading day prior to the
date as of which the Prevailing Fair Market Value is being determined. The closing price for each
day shall be the closing price, if reported, or, if the closing price is not reported, the average
of the closing bid and asked prices as reported by the Nasdaq Global Select Market (or such
principal exchange or market) or a similar source reasonably and in good faith selected from time
to time by Issuer for such purpose. In the event such closing prices are unavailable, the
Prevailing Fair Market Value shall be the cash price at which a willing seller would sell and a
willing buyer would buy such securities in an arm’s length negotiated transaction without time
constraints, as determined by an internationally recognized investment banking firm selected by
mutual agreement of Buyer and Issuer.

          (x) “Registration Expenses” shall mean the reasonable expenses incident to performance of or
compliance by Issuer with Section 4 of this Agreement, including (i) all SEC and stock exchange
registration and filing fees, (ii) all fees and expenses of complying with securities or blue sky
laws, (iii) all printing expenses, (iv) all fees and expenses incurred in connection with the
listing of Subject Securities on the Nasdaq Global Select Market and all rating agency fees, and
(v) the fees and disbursements of counsel for Issuer and of its independent public accountants,
including the expenses of any special audits and/or comfort letters required by or incident to such
performance and compliance, but excluding (i) underwriting discounts, selling commissions, fees or
other compensation payable to placement agents, (ii) fees and expenses of underwriters and/or
placement agents (including legal fees) and (iii) transfer taxes, if any.

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          (y) “Regulatory Agency” shall mean any banking agency or department of any foreign, U.S.
federal or state government, including CADFI, the FRB, the FDIC, the CBRC, the SAFE or the
respective staffs thereof.

          (z) The terms “register,” “registered,” and “registration” refer to a registration effected by
preparing and filing a registration statement or similar document in compliance with the Securities
Act, and the declaration or ordering of effectiveness (or deemed effectiveness) of such
registration statement or document.

          (aa) “SAFE” shall mean the State Administration of Foreign Exchange of the PRC or its duly
authorized local branch, as the case may be, or any successors thereto.

          (bb) “SEC” shall mean the U.S. Securities and Exchange Commission.

          (cc) “Second Closing” shall mean the closing of transactions resulting in Buyer holding the
Step Two Buyer Percentage of issued and outstanding Common Stock, as set forth in the Investment
Agreement.

          (dd) “Securities Act” shall mean the Securities Act of 1933, as amended.

          (ee) “Standstill Period” shall mean the period commencing on the date of the Investment
Agreement and continuing until the third (3rd) anniversary of the date thereof.

          (ff) “Step Three Buyer Percentage” shall mean a Buyer Percentage of 20%, except as used in
Section 6.2 below.

          (gg) “Step Two Buyer Percentage” shall mean a Buyer Percentage of 9.9%.

          (hh) “Subject Securities” shall mean (i) the shares of Common Stock issued or purchased by
Buyer, whether newly issued by Issuer pursuant to Article 2 of the Investment Agreement or
purchased from third parties as and to the extent permitted under this Agreement or the Investment
Agreement and (ii) any shares of Common Stock issued as a dividend, stock split or other
distribution with respect to or in exchange for or in replacement of the shares referred to in
Section 1.1(hh)(i) above; provided, however, that Subject Securities shall not include any
securities described in Sections l.1(hh)(i) or l.1(hh)(ii) above which (A) have been sold to the
public either pursuant to the effective registration statement, if applicable, or pursuant to Rule
144 under the Securities Act or (B) are subject to any Transfer (as defined in Section 3 of this
Agreement) in accordance with Section 3 of this Agreement. For the avoidance of doubt, any Common
Stock acquired by Buyer pursuant to Section 2.4 hereof shall become the Subject Securities upon
such acquisition and be subject to the restrictions contained in this Agreement.

          (ii) “Subsidiary” shall mean, with respect to any Person, any entity of which securities or
other ownership interests having ordinary voting power to elect a majority of the board of
directors or other persons performing similar functions are at the time directly or indirectly
owned by such Person.

          (jj) “Third Closing” shall mean the closing of transactions resulting in Buyer holding the
Step Three Buyer Percentage of issued and outstanding Common Stock, as set forth in the Investment
Agreement.

          (kk) “Treasury Stock” shall mean shares of Common Stock that are classified as treasury stock
in accordance with GAAP.

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          (ll) “Voting Securities” shall mean at any time shares of any class of Capital Stock or other
securities of Issuer which are then entitled to vote generally in the election of directors and not
solely upon the occurrence and during the continuation of certain specified events.

          SECTION 2. STANDSTILL

     2.1 Acquisition of Additional Shares.

          (a) Buyer represents and warrants to Issuer that immediately following the First Closing,
Buyer shall not Beneficially Own any Common Stock other than the shares constituting the Initial
Shares. Unless otherwise specifically provided herein, during the Standstill Period, Buyer shall
not, and shall not permit its Affiliates to, acquire, offer or propose to acquire, or agree to
acquire the Beneficial Ownership of any shares of Common Stock representing more than the Permitted
Buyer Percentage, whether by open market purchase or from any selling stockholders of Issuer, or
otherwise.

          (b) Buyer covenants and agrees that during the Standstill Period, except as contemplated by
Section 2.4, it shall not, and shall not permit its Affiliates to, directly or indirectly acquire,
offer or propose to acquire or agree to acquire, whether acting alone or in concert with any other
Person or Group, whether by purchase, tender or exchange offer, through the acquisition of control
of another Person (including by way of merger of consolidation), by joining a partnership,
syndicate or other Group or otherwise, the Beneficial Ownership of any additional Common Stock
(except by way of stock dividends, stock reclassifications or other distributions or offerings made
available and, if applicable, exercised on a pro rata basis, to holders of Common Stock generally);
provided, however, that following completion of the First Closing, Buyer may purchase a number of
shares of Common Stock in privately-negotiated transactions to increase the then current Buyer
Percentage up to the Step Two Buyer Percentage as set forth in the Investment Agreement; provided,
further, that following completion of the Second Closing, Buyer may purchase a number of shares of
Common Stock in privately-negotiated transactions or, subject to applicable law, in the open market
to increase the then current Buyer Percentage up to the Step Three Buyer Percentage as set forth in
the Investment Agreement.

     2.2 Certain Restrictions.

          (a) During the Standstill Period, except as provided in this Agreement (including without
limitation by virtue of Buyer’s representation on the Board in accordance with the terms of this
Agreement and participation by person(s) nominated by Buyer in meetings and other actions of the
Board and any duly constituted committee thereof or by informal meetings or consultations with
members of the Board or management), Buyer agrees not to, and to cause each of its Subsidiaries and
its and their respective executive officers not to, directly or indirectly, alone or in concert
with others:

     (i) except in the manner and to the extent permitted under Section 6.1, seek election
to or seek to place a representative or other Affiliate or nominee on the Board or seek
removal of any member of the Board;

     (ii) (A) propose or seek to effect a merger, consolidation, recapitalization,
reorganization, sale, lease, exchange or other disposition of substantially all assets or
other business combination involving, or a tender or exchange offer for securities of,

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Issuer or any of its Subsidiaries or any material portion of its or such Subsidiary’s
business or assets or any other type of transaction that would otherwise result in a Change
of Control of Issuer or in any increase in the Buyer Percentage beyond the then applicable
Permitted Buyer Percentage (any such action described in this clause (A), a “Issuer
Transaction Proposal”), or (B) present to Issuer, its stockholders or any third party any
proposal that constitutes, or would reasonably be expected to result in, a Issuer
Transaction Proposal or an increase in the Buyer Percentage beyond the then applicable
Permitted Buyer Percentage;

     (iii) privately or publicly suggest or announce its willingness or desire to engage in
a transaction or group of transactions, or have another Person engage in a transaction or
group of transactions that constitutes, or would reasonably be expected to result in, a
Issuer Transaction Proposal or an increase in the Buyer Percentage beyond the then
applicable Permitted Buyer Percentage, or take any action that would reasonably be expected
to require Issuer to make a public announcement regarding any Issuer Transaction Proposal;

     (iv) initiate, request, induce, encourage or attempt to induce or give encouragement to
any other Person to initiate, or otherwise provide assistance to any Person who has made or
is contemplating making, or enter into discussions or negotiations with respect to, any
proposal that constitutes, or would reasonably be expected to result in, a Issuer
Transaction Proposal or an increase in the Buyer Percentage beyond the then applicable
Permitted Buyer Percentage;

     (v) have or seek to have more than two representatives serve as officers, agents, or
employees of Issuer;

     (vi) permit the sale of any of its insurance or other nonbanking products through the
officers or employees of Issuer or any Affiliate thereof;

     (vii) dispose or threaten to dispose of shares of Issuer in any manner as a condition
of specific action or non-action by Issuer;

     (viii) form, join in or in any other way (including by deposit of Common Stock)
participate in a partnership, pooling agreement, syndicate, voting trust or other Group with
respect to Common Stock, or enter into any agreement or arrangement or otherwise act in
concert with any other Person, for the purpose of acquiring, holding, voting or disposing of
Common Stock; or

     (ix) take any other actions, alone or in concert with any other Person, to seek to
effect a Change of Control of Issuer or an increase in the Buyer Percentage beyond the then
applicable Permitted Buyer Percentage or otherwise seek to circumvent any of the limitations
set forth in this Section 2.2.

          (b) The parties agree and acknowledge that, during the Standstill Period, unless expressly
approved in writing by a duly authorized U.S. federal or state bank regulatory agency, neither
Buyer nor any Affiliate of Buyer shall have any managerial or operational control of any kind over
Issuer or any Affiliate of Issuer. Buyer shall fully comply with any and all commitments Buyer may
enter into with any Regulatory Agency and with any and all orders and other regulatory action
imposed on Buyer by any Regulatory Agency, in each case insofar as the foregoing relates to Issuer
or its Affiliates.

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     2.3 issuer Repurchase.

          (a) If, at any time during the Standstill Period, there is a repurchase or redemption of
Common Stock by Issuer that, by reducing the number of outstanding Common Stock, increases the
Buyer Percentage (a “Issuer Repurchase”) to an amount in excess of the then-applicable Permitted
Buyer Percentage, Buyer shall dispose of Common Stock Beneficially Owned by it in the manner set
forth in clauses (b) or (c) below, as applicable; provided, however, that if effecting such
disposition at such time would subject Buyer to liability under Section 16(b) of the Exchange Act,
then the obligation of Buyer to effect such disposition shall be deferred until the earliest date
on which it or its Affiliates may effect such disposition without incurring such liability under
Section 16(b).

          (b) In the event of a proposed Issuer Repurchase during the Standstill Period (other than
pursuant to a proposed program of open market repurchases by Issuer, which shall be treated in
accordance with the provisions of clause (c) below) which, together with any prior Issuer
Repurchases of less than 1% of the outstanding Common Stock (with respect to which no Common Stock
Beneficially Owned by Buyer or its Affiliates were disposed of in the manner required by this
Section 2.3), shall be in excess of 1% of the outstanding Common Stock prior to such Issuer
Repurchase (a “Required Repurchase Event”), Issuer shall give written notice (the “Repurchase
Notice”) to Buyer not later than five (5) Business Days prior to such Issuer Repurchase, specifying
(i) the number of outstanding shares of Common Stock proposed to be repurchased by Issuer, (ii) the
expected increase in the Buyer Percentage resulting from the proposed Issuer Repurchase, and (iii)
the number of shares of Common Stock to be repurchased by Issuer from Buyer such that the Buyer
Percentage following such repurchase shall be equal to the then applicable Permitted Buyer
Percentage (the “Buyer Repurchase Shares”). Upon receipt of the Repurchase Notice, Buyer shall,
subject to applicable law, be required to sell to Issuer (a “Buyer Repurchase”) the Buyer
Repurchase Shares at a per share price, payable in cash, equal to the Prevailing Fair Market Value
determined on the date of such notice. The Buyer Repurchase shall be consummated on such date to be
agreed in writing between Buyer and Issuer, which date shall be no later than ten (10) Business
Days following the receipt of the notice delivered by Issuer under this Section 2.3(b) or, if
applicable, ten (10) Business Days after the receipt of all required regulatory approvals.
Notwithstanding the foregoing, at Buyer’s option and subject to applicable law, in lieu of selling
any shares of Common Stock to Issuer, Buyer may elect to dispose of the Buyer Repurchase Shares in
open market transactions of the type described in clauses (a) and (b) of Section 3.2 (the “Market
Sale Option”). Buyer shall give written notice to Issuer by no later than two (2) Business Days
prior to the Issuer Repurchase of its election to exercise its Market Sale Option and shall
consummate the sale of the Buyer Repurchase Shares within ten (10) Business Days thereafter or, if
applicable, ten (10) Business Days after the receipt of all required regulatory approvals (or such
longer period as may be required to comply with any volume restrictions on sales of securities
under Rule 144 of the Securities Act (or any successor rule) if Buyer elects to dispose of such
Common Stock in transactions of the type described in clause (b) of Section 3.2).

          (c) In the event that Issuer shall propose a program of open market repurchases of Common
Stock during the Standstill Period which, together with any prior Issuer Repurchases of less than
1% of the outstanding Common Stock (with respect to which no Common Stock Beneficially Owned by
Buyer or its Affiliates were disposed of in the manner required by this Section 2.3), shall be in
excess of 1% of the outstanding Common Stock prior to such Issuer

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Repurchase, Issuer shall give written notice thereof to Buyer not later than ten (10) Business
Days prior to the commencement of any repurchases of Common Stock pursuant thereto, and Buyer
shall, subject to applicable law, have the option, exercisable by written notice given to Issuer
within five (5) Business Days after receipt of such notice from
Issuer, to either (i) participate
in such repurchases by selling Common Stock to Issuer on a regular basis proportionate with
Issuer’s repurchase of Common Stock in the open market (the “Repurchase Option”), or (ii) sell such
applicable number of shares of Common Stock pursuant to the Market Sale Option, in each case,
subject to applicable law. In either case Issuer shall give written notice to Buyer (the “Update
Notice”) not less frequently than every second week as to the number of shares of Common Stock so
repurchased by Issuer during the two preceding calendar weeks, the weighted average price paid for
such repurchased Common Stock (the “Average Price”), and the estimated number of Buyer Repurchase
Shares. If Buyer has elected the Repurchase Option, Buyer shall sell, or cause one or more of its
Affiliates to sell, to Issuer the Buyer Repurchase Shares at the Average Price within five (5)
Business Days after receiving the Update Notice. If Buyer has not elected the Repurchase Option, it
shall sell the Buyer Repurchase Shares pursuant to the Market Sale Option within ten (10) Business
Days after receiving the Update Notice (or such longer period as may be required to comply with any
volume restrictions on sales of securities under Rule 144 of the Securities Act (or any successor
rule) if Buyer elects to dispose of such Common Stock in transactions of the type described in
clause (b) of Section 3.2).

     2.4 Anti-Dilution Rights.

          (a) If the Buyer Percentage is less than the Initial Buyer Percentage as of the date of the
First Closing, or if at any time the Buyer Percentage decreases, as a result of:

               (i) any issuance of Common Stock or other Voting Securities by Issuer, whether prior to or
after the date of this Agreement, and whether (v) for financing, (w) in connection with mergers and
acquisitions, (x) upon the exercise of any option, warrant, stock appreciation right or other
similar instrument or the conversion of any preference security, debt security or other instrument
convertible or exchangeable for Common Stock, (y) in the form of restricted shares or similar
instruments, or (z) otherwise, or

               (ii) any capital reorganization or reclassification of Common Stock (including as a result of
a stock dividend, subdivision, split or combination) or any other corporate action that results,
directly or indirectly, in a reduction in the Buyer Percentage (including without limitation any
over-disposition of Common Stock by Buyer as a result of a Required Repurchase Event), (each, a
“Dilutive Event”) Buyer shall have the option and right to acquire additional shares of Common
Stock so that, immediately after such acquisition, Buyer shall Beneficially Own (A) the same Buyer
Percentage of such Common Stock as was Beneficially Owned by Buyer immediately prior to the
occurrence of the Dilutive Event, or (B) if the Buyer Percentage is less than the Initial Buyer
Percentage as of the date of the First Closing, the percentage of issued and outstanding Common
Stock equal to the Initial Buyer Percentage (the “Additional Shares”); provided that, for purposes
of administrative convenience, Buyer’s right to purchase Additional Shares pursuant to Section
2.4(a) shall be exercisable each and every time that an incremental aggregate number of shares of
Common Stock issued upon Dilutive Events shall be at least 1% of the then outstanding shares of
Common Stock (each, an “Exercisable Event”).

8

 

          (b) Issuer shall provide Buyer within ten (10) Business Days after the Exercisable Event
written notice thereof. Buyer shall have the right, exercisable by providing written notice to
Issuer within ten (10) Business Days after receipt of Issuer’s notice (or if such notice period is
not possible under the circumstances, such notice as is practicable), to purchase for cash directly
from Issuer up to a number of shares of Common Stock (including Treasury Stock, if applicable)
equal to the Additional Shares. The purchase price for any Common Stock purchased by Buyer pursuant
to this Section 2.4 shall be (A) in the case of a Dilutive Event other than an issuance of Common
Stock in connection with mergers and acquisitions, the lesser of (x) the Prevailing Fair Market
Value of Common Stock determined on the date of the Dilutive Event or (y) the price (including any
assumed indebtedness which is part of the purchase price and valuing any non-cash consideration at
the Prevailing Fair Market Value) at which Issuer issues such Common Stock to other shareholders or
third parties, and (B) in the case of an issuance of Common Stock in connection with any merger or
acquisition, the arithmetic average, weighted by reference to daily trading volume, of the closing
prices of such Common Stock during the thirty (30) trading day period ending immediately prior to
the closing of such merger or acquisition. Issuer shall provide such information, to the extent
reasonably available, relating to any non-cash consideration as Buyer may reasonably request in
order to evaluate any non-cash consideration paid in respect of any issuance contemplated by
Section 2.4(a). If, in connection with any issuance by Issuer covered by this Section 2.4, Buyer
gives notice of its intent to exercise its option under this Section 2.4 but has not purchased the
securities subject thereto within sixty (60) days thereafter for reasons not primarily related to
actions or omissions of Issuer or the absence of any approvals or consents or the taking of any
other actions required to be taken under applicable law or the prohibition on purchasing such
securities during such period imposed by applicable securities laws, Buyer shall be deemed to have
waived its rights to purchase such securities under this Section 2.4 with respect to such issuance
of Common Stock.

          (c) In the event that, after giving effect to Sections 2.4(a) and (b), the Buyer Percentage is
still less than the applicable Permitted Buyer Percentage immediately prior to the occurrence of
the Dilutive Event, then Buyer may, subject to applicable law, purchase a number of shares of
Common Stock in the open market or in a privately-negotiated transaction so that the Buyer
Percentage following such purchase equals the applicable Permitted Buyer Percentage immediately
prior to the occurrence of the Dilutive Event.

          SECTION 3. TRANSFER RESTRICTIONS.

     3.1 During the Standstill Period. During the Standstill Period, except as provided for in
Section 2.3, Buyer shall not, without the prior written consent
of Issuer, (i) offer, pledge, sell,
contract to sell, sell any option or contract to purchase, purchase any option or contract to sell,
grant any option, right or warrant to purchase, lend, or otherwise dispose of, directly or
indirectly, any Subject Securities, or (ii) enter into any swap or other arrangement that transfers
to another, in whole or in part, directly or indirectly, any of the economic consequences of
ownership of such Subject Securities, whether any such transaction described in clause (i) or (ii)
above (each, a “Transfer”) is to be settled by delivery of securities, in cash or otherwise.

     3.2 After the Standstill Period. Following the expiration of the Standstill Period, on any
trading day, Buyer may sell that number of the Subject Securities that represents not more than 10%
of the average daily trading volume of Common Stock on the Nasdaq Global Select Market for the
ninety (90) trading days preceding the date of sale in public market transactions only (a) pursuant
to an effective registration statement as set forth in Section 4 below, if applicable, or (b)

9

 

as permitted by and pursuant to Rule 144 promulgated under the Securities Act. Except as in
accordance with this Section 3.2 and 3.3 or unless Buyer obtains Issuer’s prior written consent
regarding the terms and conditions for such Transfer, Buyer shall have no right to Transfer the
Subject Securities. An attempted Transfer in violation of this Agreement shall be of no effect and
null and void, regardless of whether the purported transferee has any actual or constructive
knowledge of the Transfer restrictions set forth in this Agreement, and shall not be recorded on
the stock transfer books of Issuer. No Transfer by Buyer shall be effective unless and until Issuer
shall have been furnished with information reasonably satisfactory to it demonstrating that such
Transfer is in compliance with this Section 3.

     3.3 Right of First Offer. Prior to making any offer to Transfer any Subject Securities
pursuant to Section 3.2, Buyer shall give Issuer the opportunity to purchase such Subject
Securities in the following manner:

          (a) Buyer shall give written notice (the “Transfer Notice”) to Issuer, specifying the number
of shares of the Subject Securities to be Transferred. The Transfer Notice shall constitute an
offer to Issuer (or its designee) which is irrevocable during the period described in paragraph (b)
below, to sell to Issuer (or its designee) the Subject Securities which are the subject of such
Transfer Notice upon the terms set forth in this Section 3.3 and the Transfer Notice. Issuer may
elect to purchase (or cause its designee to purchase) all but not less than all of the Subject
Securities that are the subject of the Transfer Notice for cash at the Prevailing Fair Market Value
and upon the terms and conditions specified in the Transfer Notice.

          (b) If Issuer elects to purchase (or cause its designee to purchase) the offered Subject
Securities, Issuer shall give notice to Buyer within fifteen (15) Business Days of its receipt of
the Transfer Notice of its election, which notice shall include the date set for the closing of
such purchase, which date shall be no later than five (5) Business Days following the delivery of
such election notice, or, if later, five (5) Business Days after receipt of all required regulatory
approvals, and the identity of the designee, if any. If, in connection with any Transfer of Subject
Securities pursuant to Section 3.2, Issuer gives notice of its intent to exercise (or cause its
designee to exercise) the purchase option under this Section 3.3 but the Subject Securities subject
thereto are not purchased by Issuer (or its designee) within sixty (60) days thereafter for reasons
not primarily related to actions or omissions of Buyer or the absence of any approvals or consents
or the taking of any other actions required to be taken under applicable law or the prohibition on
purchasing such securities during such period imposed by applicable securities laws, Issuer (and
its designee) shall be deemed to have waived its rights to purchase such securities under this
Section 3.3 with respect to such Transfer of Subject Securities.

     3.4 Insider Trading Compliance. Anything to the contrary contained in this Agreement
notwithstanding, so long as Buyer has the right to receive non-public Issuer information pursuant
to Section 5 below, (i) any nominee of Buyer as a director or officer of Issuer, or (ii) Buyer
shall comply with the requirements of Section 16 of the Exchange Act and Issuer’s insider trading
policy then in effect in connection with any Transfer of the Subject Securities.

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     3.5 Legend on Shares. Each certificate representing Subject Securities shall bear the
following restrictive legend:

THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO RESTRICTIONS ON
TRANSFERABILITY AND RESALE AS SET FORTH IN A INVESTOR’S RIGHTS AND STANDSTILL
AGREEMENT, A COPY OF WHICH MAY BE OBTAINED AT THE PRINCIPAL OFFICE OF THE
COMPANY.

THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER
THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY APPLICABLE STATE SECURITIES LAWS.
THEY MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED OR HYPOTHECATED IN THE ABSENCE
OF A REGISTRATION STATEMENT IN EFFECT WITH RESPECT TO THE SECURITIES UNDER SUCH
ACT OR ANY APPLICABLE STATE SECURITIES LAWS OR AN OPINION OF COUNSEL
SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED OR UNLESS
SOLD PURSUANT TO RULE 144 OF SUCH ACT.

          SECTION 4. REGISTRATION RIGHTS

     4.1 Request for Registration.

          (a) At any time after the expiration of the Standstill Period, Buyer may make a written
request for registration under the Securities Act of all or part of the Subject Securities (“Demand
Registration”) for resale by means of a firm commitment underwritten offering. Upon receipt of such
request, Issuer shall use all reasonable efforts to effect as expeditiously as may be practicable,
but in any event no later than thirty (30) days after receipt of such request, the registration
under the Securities Act of all Subject Securities which Buyer requests to be registered, and shall
in connection therewith prepare and file a Form S-3 registration statement or such form as is then
available (or any successor form of registration statement to such Form S-3 or other available
registration statement) with the SEC under the Securities Act to effect such registration.
Notwithstanding the foregoing, Issuer shall not be required to effect any registration if the
Subject Securities that Issuer shall have been requested to register shall, in the aggregate,
constitute less than 2% of the Common Stock issued and outstanding on the date of such written
request for a Demand Registration is made. Buyer shall not be entitled to request more than one
Demand Registration statement under this Agreement in any 6-month period, and Buyer shall not be
entitled to more than a total of six requests for Demand Registration statements pursuant to this
Agreement; provided that no Demand Registration shall be deemed to have been effected for purposes
of this Agreement unless (i) it has been declared effective by the SEC, (ii) it has remained
effective for not less than ninety (90) days or such shorter period during which Buyer completes
the distribution described in the registration statement relating thereto, and (iii) the offering
of Subject Securities pursuant to such registration is not subject to any stop order, injunction or
other order or requirement of the SEC; provided, further, that if, as a result of any underwriter
cutback, Buyer cannot include all of the Subject Securities that it has requested to be registered,
then any such registration shall not be deemed to constitute one of the Demand Registrations to
which Buyer is entitled pursuant to this Section 4.1(a).

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          (b) Notwithstanding the foregoing, if Issuer shall furnish to Buyer a certificate signed by
the President of Issuer stating that in the good faith judgment of the Board, it would be
materially detrimental to Issuer and its stockholders for such registration statement to be filed
and it is therefore essential to defer the filing of such registration statement, Issuer shall have
the right to defer such filing for a reasonable period of time during which such filing would be
materially detrimental (the “Demand Blackout Period”) after receipt of the request of Buyer;
provided that such deferral by Issuer shall not exceed ninety (90) days from the receipt of any
request by Buyer under Section 4.1 to register any Subject Securities; provided, further, that
Issuer may not register any other securities during such ninety (90) day period; provided, however,
that Issuer shall not utilize this right more than once in any twelve (12) month period. Issuer
shall give Buyer prompt written notice of any such determination to defer filing in the form of a
certificate signed by an executive officer of Issuer, which notice shall contain a general
statement of the reasons for such postponement and an approximation of the anticipated delay.
Issuer shall promptly notify Buyer of the expiration or earlier termination of the Demand Blackout
Period.

     4.2 Piggyback Registration.

          (a) If Issuer proposes to file a registration statement relating to an offering of Common
Stock by Issuer or any holder of its securities (other than a registration statement on Form S-4 or
S-8 or any successor form for securities to be offered in a transaction of the type referred to in
Rule 145 under the Securities Act or of stock issued to employees of Issuer pursuant to any
employee benefit plan, respectively) for the registration of Common Stock (a “Piggyback
Registration”), Issuer shall give written notice to Buyer at least twenty (20) days before the
initial filing with the SEC of such piggyback registration statement (a “Piggyback Registration
Statement”), which notice shall set forth the intended method of disposition of the securities
proposed to be registered (which, if the Piggyback Registration is to relate to an underwritten
offering, must be for inclusion in the underwritten offering). The notice shall offer to include in
such filing such shares of Subject Securities as Buyer may request.

          (b) If Buyer desires to have, any Subject Securities registered under this Section 4.2, Buyer
shall advise Issuer in writing within ten (10) days after the date of receipt of such offer from
Issuer, setting forth the amount of such Subject Securities for which registration is requested.
Issuer shall thereupon include in such filing the number or amount of Subject Securities for which
registration is so requested, subject to Section 4.3(b), and shall use all reasonable efforts to
effect registration of such Subject Securities under the Securities Act.

     4.3 Underwriting. In connection with any offering involving an underwriting of shares of
Subject Securities, whether it is pursuant to the Demand Registration or the Piggyback
Registration, the following shall apply:

          (a) Issuer shall be entitled to select the underwriter for such registered underwritten
offering, subject to Buyer’s approval, which shall not be unreasonably withheld. Thereafter, Issuer
and Buyer shall enter into an underwriting agreement in customary form with the underwriter or
underwriters selected for such underwriting.

          (b) In the event that the managing underwriter of such public offering advises in writing
that, in its opinion, the total amount of the securities requested to be included in such
registration in addition to the securities being registered by Issuer, if applicable, would be
greater than the total number of securities which can be sold in the offering without having a
material

12

 

adverse effect on the distribution of such securities or otherwise having a material adverse
effect on the marketability thereof (the “Maximum Number of Securities”), then:

               (i) in the event of the Demand Registration, the number of the Subject Securities to be
included in such underwriting shall be equal to the Maximum Number of Securities;

               (ii) in the event Issuer initiated the Piggyback Registration, Issuer shall include in such
Piggyback Registration first, the securities Issuer proposes to register and second, the securities
of all other selling security holders, including Buyer, to be included in such Piggyback
Registration in an amount which together with the securities Issuer proposes to register, shall not
exceed the Maximum Number of Securities, such amount to be allocated among such selling security
holders on a pro rata basis (based on the number of securities of Issuer held by each such selling
security holder); or

               (iii) in the event any other holder of Common Stock of Issuer initiated the Piggyback
Registration, Issuer shall include in such Piggyback Registration first, the securities such
initiating security holder proposes to register, second, the securities of any other selling
security holders (including Buyer), in an amount which together with the securities the initiating
security holder proposes to register, shall not exceed the Maximum Number of Securities, such
amount to be allocated among such other selling security holders on a pro rata basis (based on the
number of securities of Issuer held by each such selling security holder) and third, any securities
Issuer proposes to register, in an amount which together with the securities the initiating
security holder and the other selling security holders propose to register, shall not exceed the
Maximum Number of Securities.

          (c) Issuer shall not hereafter enter into any agreement, which is inconsistent with the rights
of priority provided in paragraph (b) above.

     4,4 Expenses. Issuer shall pay all Registration Expenses and Buyer shall pay all other
expenses related to Buyer’s sale of Subject Securities; provided, however, that Issuer shall not be
required to pay for any Registration Expenses, if the registration request is subsequently
withdrawn at the request of Buyer, unless, at the time of such withdrawal, Buyer has learned of a
material adverse change in the condition, business, or prospects of Issuer from that known to Buyer
at the time of its request and has withdrawn the request with reasonable promptness upon obtaining
knowledge of such material adverse change.

     4.5 Obligations of Issuer. Issuer shall, subject to the terms and conditions hereof, use all
reasonable efforts to:

          (a) prepare and file with the SEC a registration statement with respect to such Subject
Securities, and use all reasonable efforts to cause such registration statement to become effective
and to keep such registration statement effective for up to ninety (90) days or such shorter period
during which Buyer completes the distribution described in the registration statement relating
thereto, whichever first occurs;

          (b) prepare and file, as expeditiously as reasonably practicable, with the SEC such amendments
and supplements to the registration statement and the prospectus used in connection with such
registration statement as may be necessary to comply with the provisions of the Securities Act;

13

 

          (c) furnish to Buyer such reasonable numbers of copies of a prospectus, including a
preliminary prospectus, in conformity with the requirements of the Securities Act;

          (d) register and qualify the securities covered by the registration statement under such blue
sky laws of such states of the United States as shall be reasonably requested by Buyer; provided,
however, that Issuer shall not be required in connection therewith or as a condition thereto to
qualify to do business or to file a general consent to service of process in any such states or
jurisdictions;

          (e) notify Buyer at any time that Issuer has knowledge that a prospectus relating to such
registration statement is required to be delivered under the Securities Act of the happening of any
event as a result of which the prospectus included in such registration statement, as then in
effect, includes an untrue statement of a material fact or omits to state a material fact required
to be stated therein or necessary to make the statements therein not misleading in the light of the
circumstances then existing;

          (f) subject to the provisions of Section 4.8 below, amend or supplement any such prospectus in
order to cause such prospectus not to include any untrue statement of material fact required to be
stated therein or necessary to make the statements therein not misleading in light of the
circumstances then existing;

          (g) cause Subject Securities covered by the registration statement to be listed on the Nasdaq
Global Select Market and provide Buyer with information regarding the transfer agent and the CUSIP
number for such Subject Securities;

          (h) notify Buyer of (i) the effectiveness of a registration statement, (ii) the filing of any
post-effective amendments to such registration statement, or (iii) the filing of a supplement to
such registration statement; provided, however, that this requirement shall not apply to periodic
reports, other reports and proxy statements required to be filed by Issuer; and

          (i) furnish to Buyer in accordance with Section 11(a) of the Securities Act as soon as
practicable after the effective date of the applicable registration statement an earnings statement
satisfying the provisions of Section 11(a) of the Securities Act.

     4.6
Furnish Information. It shall be a condition precedent to the obligations of Issuer to
take any action pursuant to this Section 4 with respect to the Subject Securities of Buyer that
Buyer shall furnish to Issuer such information regarding itself, the Subject Securities held by it,
and the intended method of disposition of such securities as shall be required to effect the
registration of Buyer’s Subject Securities.

     4.7 Reports under the Exchange Act. With a view to making available to Buyer the benefits of
Rule 144 (or any successor rule) and any other rule or regulation of the SEC that may at any time
permit Buyer to sell Subject Securities to the public without registration, Issuer shall use all
reasonable efforts to:

          (a) make and keep public information available, as those terms are understood and defined in
Rule 144, until the earlier of (i) six months after such date as all Subject Securities may be
resold pursuant to Rule 144(k) or any other rule of similar effect, and (ii) such date as all of
Subject Securities shall have been resold;

          (b) file with the SEC in a timely manner all reports and other documents required to be filed
by Issuer under the Exchange Act; and

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          (c) furnish to Buyer upon request, as long as Buyer owns any Subject Securities, (i) a written
statement by Issuer that Issuer has complied with the reporting
requirements of the Exchange Act, (ii) a copy of Issuer’s most recent Annual Report on Form 10-K or Quarterly
Report on Form l0-Q, and (iii) such other reports and public documents as Buyer may reasonably
request in order to avail itself of any rule or regulation of the SEC allowing it to sell Subject
Securities without registration.

     4.8 Suspension Periods. If disclosure of information in an amendment to the registration
statement and/or in a supplement to the prospectus included therein is required so that such
prospectus shall not include an untrue statement of a material fact or omit to state a material
fact required to be stated therein or necessary to make the statements therein not misleading in
light of the circumstances then existing, and if an executive officer of Issuer determines in good
faith at any time after consultation with external counsel that such disclosure of any such
information would be materially detrimental to Issuer, then Issuer shall be permitted to delay
filing such amendment or supplement for a period of time not to exceed forty-five (45) consecutive
days or ninety (90) days in any rolling twelve-month period (each such period, a “Suspension
Period”) by providing written notice of such Suspension Period to Buyer. Upon receiving written
notice of a Suspension Period, Buyer shall immediately cease (and shall cause its agents or brokers
to immediately cease) all offers and sales of Subject Securities pursuant to the registration
statement. Issuer shall promptly notify Buyer in writing upon the termination of any Suspension
Period. In addition, and without any limitation of the foregoing, if at any time, in Issuer’s good
faith determination after consultation with external counsel, that there is a substantial risk that
the offer or sale by Buyer of any Subject Securities pursuant to any registration statement would
result in a violation of the Securities Act, the anti-fraud provisions of the Exchange Act or other
applicable law, then Buyer shall, upon written notice to Buyer from Issuer, immediately cease (and
shall cause its agents or brokers to immediately cease) all offers and sales of Subject Securities
under any registration statement until further notice from Issuer.

     4.9 Indemnification.

          (a) To the extent permitted by law, Issuer shall indemnify and hold harmless Buyer, each of
its officers and directors and each person, if any, who “controls” Buyer (within the meaning of the
Securities Act or the Exchange Act), against any losses, claims, damages, or liabilities (joint or
several) to which they may become subject, insofar as such losses, claims, damages, or liabilities
(or actions in respect thereof) arise out of or are based upon any of the following statements,
omissions or violations (collectively, a “Violation”): (i) any untrue statement or alleged untrue
statement of a material fact contained in the registration statement, including any preliminary
prospectus or final prospectus contained therein or any amendments or supplements thereto, (ii) the
omission or alleged omission to state in the registration statement, including any preliminary
prospectus or final prospectus contained therein or any amendments or supplements thereto, a
material fact required to be stated therein, or necessary to make the statements therein not
misleading, (iii) any untrue statement or alleged untrue statement of a material fact contained in
any Issuer Free Writing Prospectus (as defined below), or any omission or alleged omission to state
therein a material fact necessary in order to make the statements therein not misleading, or (iv)
any violation or alleged violation by Issuer of the Securities Act, the Exchange Act, any state
securities law or any rule or regulation promulgated under the Securities Act, the Exchange Act or
any state securities law in connection with a registration effected pursuant to the terms of this
Agreement; and Issuer shall pay to Buyer, each

15

 

of its officers, directors or controlling person, any legal or other expenses reasonably
incurred by them in connection with investigating or defending any such loss, claim, damage,
liability or action; provided, however, that the indemnity agreement contained in this Section
4.9(a) shall not apply to amounts paid in settlement of any such loss, claim, damage, liability or
action if such settlement is effected without the consent of Issuer, which consent shall not be
unreasonably withheld, conditioned or delayed, nor shall Issuer be liable in any such case for any
such loss, claim, damage, liability or action to the extent that it arises out of or is based upon
a Violation which occurs in reliance upon and in conformity with written information furnished
expressly for use in connection with such registration by Buyer or any underwriter or controlling
person thereof; and provided, further, that the indemnity agreement contained in this Section 4.9(a)
shall not apply to, nor shall Issuer have any other liability elsewhere under this Agreement with
respect to, any sale of Subject Securities by Buyer under any registration statement with respect
to which Buyer has not received confirmation within ten (10) business days prior to the date of
such sale that such registration statement is available to cover such sale. For purposes of this
Section 4.9(a), “Issuer Free Writing Prospectus” shall mean any “issuer free writing prospectus,”
as defined in Rule 433 under the Securities Act.

          (b) To the extent permitted by law, Buyer shall indemnify and hold harmless Issuer, each of
its directors, officers and each person, if any, who controls Issuer within the meaning of the
Securities Act, any underwriter, each of its officers, directors and partners, and any controlling
person of any such underwriter, against any losses, claims, damages, or liabilities (joint or
several) to which any of the foregoing persons may become subject, under the Securities Act, the
Exchange Act or other federal or state law, insofar as such losses, claims, damages, or liabilities
(or actions in respect thereto) arise out of or are based upon any Violation, in each case to the
extent that such Violation occurs in reliance upon and in conformity with written information
furnished by Buyer expressly for use in connection with registration pursuant to the registration
statement; and Buyer shall pay any legal or other expenses reasonably incurred by any person
intended to be indemnified pursuant to this Section 4.9(b) in connection with investigating or
defending any such indemnified loss, claim, damage, liability or action; provided, however, that
the indemnity agreement contained in this Section 4.9(b) shall not apply to amounts paid in
settlement of any such loss, claim, damage, liability or action if such settlement is effected
without the consent of Buyer, which consent shall not be unreasonably withheld, conditioned or
delayed.

          (c) Promptly after receipt by an indemnified party under this Section 4.9 of notice of the
commencement of any action (including any governmental action), such indemnified party shall, if a
claim in respect thereof is to be made against any indemnifying party under this Section 4.9,
deliver to the indemnifying party a written notice of the commencement thereof and the indemnifying
party shall have the right to participate in, and, to the extent the indemnifying party so desires,
jointly with any other indemnifying party similarly noticed, to assume the defense thereof with
counsel mutually and reasonably satisfactory to the parties; provided, however, that an indemnified
party (together with all other indemnified parties which may be represented without conflict by one
counsel) shall have the right to retain one separate counsel, with the fees and expenses to be paid
by the indemnifying party, if representation of such indemnified party by the counsel retained by
the indemnifying party would be inappropriate due to actual or potential conflicts of interest
between such indemnified party and any other party represented by such counsel in such proceeding.
The failure to deliver written notice to the indemnifying party within a reasonable time of the
commencement of any such action, if

16

 

prejudicial to its ability to defend such action, shall relieve such indemnifying party, to
the extent prejudiced, of any liability to the indemnified party under this Section 4.9, but the
omission to so deliver written notice to the indemnifying party shall not relieve it of any
liability that it may have to any indemnified party otherwise than under this Section 4.9.

          (d) If the indemnification provided for in this Section 4.9 is held by a court of competent
jurisdiction to be unavailable to an indemnified party with respect to any loss, liability, claim,
damage, or expense referred to therein, then the indemnifying party, in lieu of indemnifying such
indemnified party hereunder, shall contribute to the amount paid or payable by such indemnified
party as a result of such loss, liability, claim, damage, or expense in such proportion as is
appropriate to reflect the relative fault of the indemnifying party on the one hand and of the
indemnified party on the other in connection with the Violation that resulted in such loss,
liability, claim, damage, or expense as well as any other relevant equitable considerations. The
relative fault of the indemnifying party and of the indemnified party shall be determined by
reference to, among other things, whether the untrue or alleged Violation relates to information
supplied by the indemnifying party or by the indemnified party and the parties’ relative intent,
knowledge, access to information, and opportunity to correct or prevent such statement or omission.

          (e) The obligations of Issuer and Buyer under this Section 4.9 shall survive the completion of
any offer or sale of Subject Securities pursuant to the registration statement.

4.10
Prompt Notice of Suspension or Investigation. In the event any registration statement filed by
Issuer becomes subject to a stop order suspending its effectiveness, or proceedings for such
purpose are pending before or threatened by the SEC, Issuer shall provide Buyer prompt notice
thereof.

          SECTION 5. INFORMATION RIGHTS

     So long as Buyer from time to time maintains the Initial Buyer Percentage, complies with its
obligations under Section 3.4 hereof and maintains the disclosed information in confidence as
required in Rule l00(2)(ii) of Regulation FD, Issuer shall deliver to Buyer:

          (a) as soon as practicable and, in any event, within thirty (30) Business Days (or such
earlier date that the information is available to Issuer) after the end of each month, (i) the
unaudited consolidated balance sheets of Issuer and its Subsidiaries as of the end of such month
and the related unaudited statements of operations for such month and for the portion of the fiscal
year then ended, and (ii) a written management report for Issuer and its Subsidiaries, which
contains, without limitation, analyses of the operating results of Issuer on a consolidated basis,
a comparison of actual performance for such month and year to date against the budget for such
month and against the financial results for the corresponding month in the preceding fiscal year;

          (b) as soon as practicable and, in any event, within forty-five (45) days (or such earlier
date that the information is available to Issuer) after the end of each of the first three fiscal
quarters, (i) the unaudited consolidated balance sheets, statements of stockholders’ equity and
comprehensive income and statements of cash flows of Issuer and its Subsidiaries as of the end of
such quarter and the related unaudited statements of operations for such quarter and for the
portion of the fiscal year then ended, and (ii) a written management report for Issuer and its
Subsidiaries, which contains, without limitation, analyses of the operating results of Issuer on a
consolidated basis, a comparison of actual performance for such quarter and year to date against

17

 

the budget for such periods and against the financial results for the corresponding periods in
the preceding fiscal year; and

          (c) as soon as practicable and, in any event, within seventy-five (75) days (or such earlier
date that the information is available to Issuer) after the end of each fiscal year, (i) the
audited consolidated balance sheets, statements of stockholders’ equity and comprehensive income
and statements of cash flows of Issuer and its Subsidiaries as of the end of such fiscal year and
the related audited statements of operations for such fiscal year, and (ii) a written management
report for Issuer and its Subsidiaries, which contains, without limitation, analyses of the
operating results of Issuer on a consolidated basis, a comparison of actual performance against the
annual budget for such year and against financial results for the preceding fiscal year.

     For purposes of this Section 5, Buyer shall be deemed to have maintained the Initial Buyer
Percentage if from time to time the Buyer Percentage is less than the Initial Buyer Percentage by
less than 1%. Without limiting the generality of the foregoing, in no event shall Buyer be deemed
to have failed to maintain the Initial Buyer Percentage if, with respect to any Dilutive Event that
decreases the Buyer Percentage to below the Initial Buyer Percentage, Buyer has provided a written
notice to Issuer of its desire to acquire Additional Shares in accordance with Section 2.4(b).

          SECTION 6. BOARD AND MANAGEMENT REPRESENTATION

     6.1 Board Representation.

          (a) Upon completion of the First Closing and once Buyer provides a written confirmation to
Issuer to increase the Initial Buyer Percentage to the Step Two Buyer Percentage, Issuer shall
increase the size of the Board by one (1) director, so that upon such increase, (i) the Board shall
consist of ten (10) directors, and (ii) the Board shall elect as director to fill the vacancy a
person designated by Buyer who shall be reasonably acceptable to Issuer and the Board. Such person
shall, unless removed by Buyer or otherwise for cause, serve as a duly appointed director of
Issuer. Each subsequent designee of Buyer shall, if reasonably acceptable to Issuer and the Board
and subject to this Section 6.1, be nominated by the Board for election by the stockholders to the
Board, and if so elected, shall serve as a duly elected director of Issuer. Subject to Section
6.1(e), so long as Buyer from time to time maintains the Initial Buyer Percentage, Issuer shall
continue to nominate and recommend for election one (1) person designated by Buyer who is
reasonably acceptable to Issuer and the Board to serve as director on the Board.

          (b) Promptly after completion of the Third Closing, Issuer shall increase the size of the
Board by one (1) director so that upon such increase, (i) the Board shall consist of eleven (11)
directors and (ii) the Board shall elect as director to fill the vacancy a person designated by
Buyer who shall be reasonably acceptable to Issuer and the Board. Such person shall, unless removed
by Buyer or otherwise for cause, serve as a duly appointed director of Issuer. Each subsequent
designee of Buyer shall, if reasonably acceptable to Issuer and the Board and subject to this
Section 6.1, be nominated by the Board for election by the stockholders to the Board, and if so
elected, shall serve as a duly elected director of Issuer. Subject to Section 6.1(e), so long as
Buyer from time to time maintains the Step Three Buyer Percentage, Issuer shall continue to
nominate and recommend for election two (2) persons designated by Buyer who are reasonably
acceptable to Issuer and the Board to serve as directors on the Board. For the avoidance of doubt,

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this Section 6.1(b) shall not apply in the event that Buyer first acquires the Step Three
Buyer Percentage after the expiry of the Standstill Period.

          (c) At least thirty (30) days prior to its distribution of its proxy statement or information
statement with respect to each meeting of stockholders at which a term of a director designated by
Buyer expires, Issuer shall notify Buyer. On or prior to the close of business on the later of (i)
the fifteenth (15th) day following its receipt of Issuer’s
notice and (ii) the thirtieth (30th) day prior to
Issuer’s anticipated distribution of such proxy statement or information statement, Buyer shall
notify Issuer information regarding its nominee required by the Exchange Act and the rules and
regulations promulgated by the SEC thereunder to be set forth in such proxy statement or
information statement.

          (d) Promptly after completion of the Second Closing, the board of directors of Buyer shall
elect as director one (1) person designated by Issuer who shall (i) be reasonably acceptable to
Buyer and its board of directors (the “Buyer’s Board”), and (ii) has been approved by the CBRC, the
CSRC and the Shanghai Stock Exchange to serve as director on the Buyer’s Board (an “Approved Issuer
Designee”). The Approved Issuer Designee shall be nominated by the Buyer’s Board for election by
the stockholders to the Buyer’s Board, and if so elected, shall serve as a duly elected director of
Buyer. So long as Buyer from time to time maintains the Step Two Percentage, Buyer shall continue
to nominate and recommend for election one (1) Approved Issuer Designee to serve as director on the
Buyer’s Board.

          (e) For purposes of Sections 6.1(a) and (b), Buyer shall be deemed to have maintained the
Initial Buyer Percentage or the Step Three Buyer Percentage, as applicable, if from time to time
the Buyer Percentage is less than the Initial Buyer Percentage or the Step Three Buyer Percentage,
as the case may be, by less than 1%. Without limiting the generality of the foregoing, in no event
shall Buyer be deemed to have failed to maintain the Initial Buyer Percentage or the Step Three
Buyer Percentage, as the case may be, if, with respect to any Dilutive Event that decreases the
Buyer Percentage to below the Initial Buyer Percentage or the Step Three Buyer Percentage, Buyer
has provided a written notice to Issuer of its desire to acquire Additional Shares in accordance
with Section 2.4(b).

6.2 Management Representation.

          (a) Following the completion of the First Closing, subject to Section 6.2(b), so long as Buyer
from time to time maintains the Initial Buyer Percentage, Buyer shall have the right to recommend
the appointment of one senior, non-executive manager to Issuer. Following the completion of the
Third Closing, subject to Section 6.2(b), so long as Buyer from time to time maintains the Step
Three Buyer Percentage, Buyer shall have the right to recommend the appointment of a second senior
manager to Issuer; provided, however, that for purposes of this Section 6.2, the Step Three Buyer
Percentage shall be 19.9%. Issuer shall use all reasonable efforts to appoint Buyer recommended
managers, and ensure that any such manager appointed shall, unless otherwise agreed by the parties,
have equivalent rights and responsibilities as those of other senior managers of Issuer having the
most senior title of an officer who is not included in the executive management of Issuer as
executive management is listed in Issuer’s SEC filings. It is the understanding of the parties that
such managers shall have the title of “Senior Vice President” and equivalent rights and
responsibilities to those of other Senior Vice Presidents of Issuer, and that Buyer shall endeavor
to recommend a qualified individual and shall consult with Issuer prior to making such
recommendation final.

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          (b) For purposes of Section 6.2(a), Buyer shall be deemed to have maintained the
Initial Buyer Percentage or the Step Three Buyer Percentage, as applicable, if from time to time
the Buyer Percentage is less than the Initial Buyer Percentage or the Step Three Buyer Percentage,
as the case may be, by less than 1%. Without limiting the generality of the foregoing, in no event
shall Buyer be deemed to have failed to maintain the Initial Buyer Percentage or the Step Three
Buyer Percentage, as the case may be, if, with respect to any Dilutive Event that decreases the
Buyer Percentage to below the Initial Buyer Percentage or the Step Three Buyer Percentage, Buyer
has provided a written notice to Issuer of its desire to acquire Additional Shares in accordance
with Section 2.4(b).

     6.3 Confidentiality. Issuer reserves the right to exclude any director or manager nominated by
Buyer from access to any information or meeting or portion thereof if and to the extent that such
information or meeting or portion thereof relates primarily to matters or circumstances involving a
direct conflict of interest between Issuer and Buyer or between Issuer and the director or manager
if Issuer’s external counsel, acting reasonably, provides a legal opinion that access to such
information or meeting would result in a breach by the director or manager of his/her fiduciary
duties to Issuer.

     6.4 Corporate Opportunities. Issuer and Buyer acknowledge and agree that as of the date of
this Agreement there is no substantial business competition between them, but that they may become
more substantial competitors in future, whether as a result of Issuer’s mergers with or
acquisitions of other businesses or entities or otherwise. Issuer and Buyer agree that, insofar as
any of (i) Buyer’s nominees to the Board and management of Issuer, and (ii) Issuer’s nominee to the
board of directors of Buyer, are presented with corporate opportunities that may be opportunities
for both Issuer and Buyer, he shall:

          (a) fully satisfy his fiduciary obligations to both Issuer and Buyer with respect to the
corporate opportunity;

          (b) not be liable to Issuer or Buyer or their respective stockholders with respect to the
corporate opportunity;

          (c) be deemed to have acted in good faith and in a manner he reasonably believed to be in the
best interests of both Issuer and Buyer; and

          (d) not have violated his duty of loyalty to Issuer or Buyer or their respective stockholders,
provided that he acts in good faith in a manner consistent with the following policy:

          (e) any corporate opportunity expressly offered to him in his capacity as a director or
officer of one, but not both, of Issuer or Buyer shall belong to whichever of Issuer or Buyer is
the subject of the offer;

          (f) any other corporate opportunity offered to Buyer director nominated by Issuer shall belong
and first be offered to Issuer, which shall consider it promptly;

          (g) any other corporate opportunity offered to a Issuer director or officer nominated by Buyer
shall belong and first be offered to Buyer, which shall consider it promptly; and

20

 

          (h) any corporate opportunity declined by either Issuer or Buyer shall thereafter be offered
to the other.

     For purposes of this Agreement, a “corporate opportunity” shall include business opportunities
that (i) Issuer or United Commercial Bank, a wholly-owned subsidiary of Issuer (the “Bank”), or
Buyer, as the case may be, is financially able to undertake and (ii) fall within the then current
lines of business of Issuer, the Bank or Buyer, as the case may be.

6.5 No Managerial or Operational Control. The parties hereby confirm and agree that, except for the
rights specifically granted herein, in no event shall Buyer or any Affiliate of Buyer have any
managerial or operational control of Issuer. If necessary, to avoid such control, Buyer shall take
action requested by Issuer under Section 2.2(b) hereof.

          SECTION 7. VOTING AGREEMENT

     7.1 In addition to the provisions of Section 2.2 above, during the Standstill Period, Buyer
shall vote and cause to be voted all Common Stock Beneficially Owned by Buyer (i) for persons
nominated and recommended by the Board for election as directors of the Board and against any
person nominated for election as a director by any other Person and (ii) as otherwise directed by
the Board, so long as such vote (a) is not adverse to Buyer’s rights under this Agreement or the
Investment Agreement, (b) is not adverse to its rights as a stockholder of Issuer, or (c) does not
have a disproportionately adverse impact on its interests. Upon completion of the First Closing,
Buyer shall submit to Issuer Voting Agreement executed by Buyer in the form attached hereto as
Exhibit A.

          SECTION 8. OTHER PROVISIONS

     8.1 Term and Termination.

          (a) This Agreement shall become effective upon completion of the First Closing as set forth in
the Investment Agreement and thereafter continue in full force and effect until terminated pursuant
to this Section 8.1.

          (b) In the event that the Investment Agreement shall have been terminated at any time after
the First Closing but before the Third Closing pursuant to Sections 7.01(a) or (b) of the
Investment Agreement, this Agreement shall survive such termination and continue in full force and
effect; provided, however, that:

               (i) Sections 2.1,
2.2 and 2.3 shall cease to have to any force or effect after the
second
(2nd)
anniversary of the date of the First Closing;

               (ii) Sections 3.1, 3.2 and 3.3 shall cease to have to any force or effect after the first to
occur of (x) the first
(1st) anniversary of the Second Closing and (y) the first (1st) anniversary
of the termination date of this Agreement; and

               (iii) Section 4 shall for purposes for this Section 8.1(b) be deemed to be amended with effect
as of such termination of the Investment Agreement such that, notwithstanding anything in Section 4
relating to Buyer’s right to request registration of Subject Securities during the Standstill
Period, Buyer shall, immediately upon and from time to time after the
first to occur of (x) the
first
(1st)
anniversary of the Second Closing and (y) the first (1st) anniversary of the termination date
of this Agreement, become entitled to exercise its rights under Section 4; provided that the
foregoing amendment shall not in any way affect the validity or enforceability of the other
provisions of Section 4.

21

 

          (c) In the event that the Investment Agreement shall have been terminated by Buyer at any time
after the First Closing but before the Third Closing pursuant to Sections 7.01(c) or (d) of the
Investment Agreement, this Agreement shall terminate automatically without any action on either
party; provided, however, that:

               (i) Section 4 shall for purposes for this Section 8.1(b) be deemed to be amended with effect
as of such termination of the Investment Agreement such that, notwithstanding anything in Section 4
relating to Buyer’s right to request registration of Subject Securities during the Standstill
Period, Buyer shall, immediately upon and from time to time after such termination of this
Agreement, be entitled exercise its rights under Section 4; provided that the foregoing amendment
shall not in any way affect the validity or enforceability of the other provisions of Section 4;
and

               (ii) Sections 2.4, 5, 6.1 (other than 6.1(d)), 6.2, 6.3, 6.4 and 8 (other than 8.2) shall
survive such termination of this Agreement and shall remain in full force and effect indefinitely.

          (d) In the event that the Investment Agreement shall have been terminated by Issuer at any
time after the First Closing but before the Third closing pursuant to section 7.01(c) or (d) of the
Investment Agreement, this Agreement shall terminate automatically without any action on either
party; provided, however, that:

               (i) Section 4 shall survive such termination of this Agreement and remain in full force and
effect until such date as all Subject Securities shall have been resold, and shall for purposes for
this Section 8.1 be deemed to be amended with effect as of such termination of this Agreement such
that Buyer shall, after the expiration of the Standstill Period, retain the right to make three (3)
requests for Demand Registration pursuant to Sections 4.1; provided that the foregoing amendment
shall not in any way affect the validity or enforceability of the other provisions of Section 4;
provided, further, that Section 4.7 shall survive such termination of this Agreement and shall
remain in full force and effect throughout the earlier to end of the period described in Section
4.7(a) and that Section 4.9 shall survive such termination of this Agreement and shall remain in
full force and effect indefinitely;

               (ii) Sections 2.1, 2.2, 2.3, 3.1, 3.2, 3.3, 6.1(d), 6.3, 6.4, 6.5 and 7 shall survive such
termination of this Agreement and shall remain in full force and effect until the expiration of the
Standstill Period; and

               (iii) Section 8 (other than 8.2) shall survive such termination of this Agreement and shall
remain in full force and effect indefinitely.

     8.2 Business Cooperation. Consistent with FRB guidelines regarding business cooperation,
customer referrals and co-branding prior to completion of the Third Closing, Issuer and Buyer agree
that the parties will negotiate in good faith to enter into agreements regarding strategic
opportunities in China and the US in areas, including, but not limited to, trade finance,
remittance services, loan referrals, interbank businesses, ATM network sharing and customer
referrals.

     8.3 No Assignment. The parties’ respective rights and obligations pursuant to this Agreement
may not be transferred, assigned or delegated by either Buyer or Issuer without the prior written
consent of the other. Any attempted transfer, assignment or delegation in violation of the
foregoing shall be void.

22

 

     8.4 Governing Law; Dispute Resolution. This Agreement shall be governed by and construed in
accordance with the laws of the State of California, without reference to California’s conflict of
law principles; provided, however, that this Section 8.4 shall be governed by and interpreted in
accordance with the Federal Arbitration Act of the United States, 9
U.S.C. §§ 1 et seq. Any dispute,
claim, controversy or difference regarding the interpretation or validity or performance of, or
otherwise arising out of or relating to, this Agreement (“Dispute”), shall be finally and
conclusively decided by binding arbitration in accordance with the Rules of Arbitration of the
International Chamber of Commerce (“ICC”) by an Arbitral Tribunal consisting of three arbitrators
appointed in accordance with those Rules. The language of the arbitration shall be English and
Mandarin Chinese. The venue for the hearings of the arbitration shall be Hong Kong. The parties
shall bear in equal shares any fees and expenses of the Arbitral Tribunal and of the ICC; provided
that the Arbitral Tribunal shall have the authority to award, as part of the Arbitral Tribunal’s
decision, to the prevailing party its costs and expenses of the arbitration proceeding, including
reasonable attorneys’ and experts’ fees. The Arbitral Tribunal shall render its award based on the
explicit terms of this Agreement; and in instances where it is silent, on the basis of strict
principles consistent with the terms of the Agreement. The Arbitral Tribunal shall be bound by
strict rules of law in making its decision, and may not pronounce judgment on equitable principles
or the basis of ex aqueo et bono. The Arbitral Tribunal shall have the authority to include in its
award a decision binding upon the parties enjoining them to take or refrain from taking specific
action with respect to the Dispute or declaring their rights, responsibilities and liabilities as
to the Dispute. The Arbitral Tribunal shall state the reasons for its decision in writing in the
award it issues. Judgment on the award rendered by the Arbitral Tribunal may be entered by any
court having jurisdiction. Each of the parties hereby irrevocably submits to the personal
jurisdiction of, and irrevocably waives objection to the laying of venue (including a waiver of any
argument of forum non conveniens or other principles of like effect) in, the state and federal
courts located in San Francisco, California, USA and/or the courts of Hong Kong, for the purposes
of any action commenced in aid of an arbitration hereunder, or for entry of judgment upon the
Arbitral Tribunal’s award. Each of the parties consents that all service of process may be made by
delivery of the summons and complaint by certified or registered mail, return receipt requested, or
by messenger, directed to it at its address for notices set forth in Section 8.7 hereof, and that
service so made shall be deemed to have been made as of the date of the receipt indicated in the
certification, signed and returned postal receipt, or other proof of service applicable to the
method of service employed.

     8.5 Enforcement of Agreement. The parties hereto agree that irreparable damage would occur in
the event that this Agreement were not performed in accordance with its specific terms or were
otherwise breached. It is accordingly agreed that, notwithstanding anything to the contrary, the
parties shall be entitled to an injunction or injunctions to prevent breaches of this Agreement and
to enforce specifically the terms and provisions thereof in any court of the United States or any
state having jurisdiction, and for that purpose each party hereto irrevocably submits to the
non-exclusive jurisdiction of the state and federal courts located in San Francisco, California,
USA and irrevocably waives any objection to venue (including hereby waiving any argument of forum
nonconveniens or principles of similar effect) in such courts, this being in addition to any other
remedy to which they are entitled at law or in equity.

     8.6 Counterparts. This Agreement may be executed in two or more counterparts, each of which
shall be deemed an original, but all of which together shall constitute one and the same
instrument.

23

 

     8.7 Titles and Subtitle Verification. The titles and subtitles used in this Agreement are used
for convenience only and are not to be considered in construing or interpreting this Agreement.

     8.8 Notices. All notices or other communications required or permitted hereunder shall be in
writing and shall be deemed effectively given: (i) upon personal delivery to the party to be
notified; (ii) when sent by confirmed electronic mail, with verification of receipt, or facsimile,
in either case if sent during normal business hours of the recipient; if not, then on the next
business day; (iii) three days after having been sent by registered or certified mail, return
receipt requested, postage prepaid; or (iv) one day after deposit with a nationally recognized
overnight courier, specifying next day delivery, with written verification of receipt. All
communications shall be sent to a party at such party’s address set forth on the signature page
hereof or at such other address, electronic or otherwise, as such party shall designate by ten
days’ advance written notice to the other party.

     8.9 Severability. If one or more provisions of this Agreement, together with the Merger
Agreement, are held to be unenforceable under applicable law, in whole or in part, the
unenforceable portion of such provision shall be excluded from this Agreement and the balance of
the Agreement shall be interpreted as if such unenforceable portion were so excluded and shall be
enforceable in accordance with its terms.

     8.10 Entire Agreement; Amendment; Waiver. This Agreement, together with the Investment
Agreement and the Voting Agreement, constitutes the full and entire understanding and agreement
between the parties hereto with regard to the subject matter hereof, and supersedes any and all
prior negotiations, correspondence, understandings and agreements among the parties respecting the
subject matter hereof. Any term of this Agreement may be amended and the observance of any term of
this Agreement may be waived (either generally or in a particular instance and either retroactively
or prospectively) only with the written consent of Issuer and Buyer.

     8.11 Language. The parties confirm and agree that both the English and Chinese versions of
this Agreement shall have the same effect and be controlling in all respects and that neither is
prepared for reference or accommodation purposes.

[SIGNATURE PAGE FOLLOWS]

24

 

     IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first above
written.

	 	 	 	 	 	 	 
	 	 	UCBH HOLDINGS, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	Its:	 	 	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	Address:
	 	555 Montgomery Street	 	 
	 

	 	 	 	San Francisco, CA 94111	 	 
	 
	 	 	 	 	 	 
	 

	 	E-mail:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	Fax:	 	 	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	CHINA MINSHENG BANKING CORP., LTD.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	Its:	 	 	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	Address:
	 	No. 2 Fuxingmennei Avenue	 	 
	 

	 	 	 	Xicheng District	 	 
	 

	 	 	 	Beijing, 100031 China	 	 
	 
	 	 	 	 	 	 
	 

	 	E-mail:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	Fax:

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