Document:

Exhibit 10.7

 

SPONSOR WARRANTS PURCHASE AGREEMENT

 

THIS SPONSOR WARRANTS PURCHASE AGREEMENT, dated as of August 9, 2011 (as it may from time to time be amended and including all exhibits referenced herein, this “Agreement”), is entered into by and between HBC Investors LP, a Texas limited partnership (the “Sponsor”), and HBC Acquisition Corp., a Delaware corporation (the “Company”).

 

WHEREAS, the Company intends to consummate a public offering of the Company’s units (the “Public Offering”), each unit consisting of one share of the Company’s common stock, par value $0.0001 per share (a “Share”), and one warrant to purchase one Share at an exercise price of $11.50 per Share; and

 

WHEREAS, the Sponsor has agreed to purchase an aggregate of 4,666,667 warrants (the “Sponsor Warrants”), each Sponsor Warrant entitling the holder to purchase one Share at an exercise price of $11.50 per Share.

 

NOW THEREFORE, in consideration of the mutual promises contained in this Agreement and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties to this Agreement hereby, intending legally to be bound, agree as follows:

 

AGREEMENT

 

Section 1.              Authorization, Purchase and Sale; Terms of the Sponsor Warrants.

 

A.            Authorization of the Sponsor Warrants.  The Company has duly authorized the issuance and sale of the Sponsor Warrants to the Sponsor.

 

B.            Purchase and Sale of the Sponsor Warrants.  Immediately prior to the consummation of the Public Offering, or on such earlier time and date as may be mutually agreed by the Sponsor and the Company (the “Closing Date”), the Company shall issue and sell to the Sponsor, and the Sponsor shall purchase from the Company, the Sponsor Warrants at a price of $0.75 per warrant for an aggregate purchase price of $3,500,000 (the “Purchase Price”), which shall be paid by wire transfer of immediately available funds to the Company in accordance with the Company’s wiring instructions.  On the Closing Date, upon the payment by the Sponsor of the Purchase Price by wire transfer of immediately available funds to the Company, the Company shall deliver a certificate evidencing the Sponsor Warrants duly registered in the Sponsor’s name to the Sponsor.

 

C.            Terms of the Sponsor Warrants.

 

(i)            Each Sponsor Warrant shall have the terms set forth in a Warrant Agreement to be entered into by the Company and a warrant agent in connection with the Public Offering (a “Warrant Agreement”), as described in the Company’s Registration Statement on Form S-1 to be filed with the Securities and Exchange Commission.

 

(ii)           At the time of the closing of the Public Offering, the Company and the Sponsor shall enter into a registration rights agreement (the “Registration Rights Agreement”),

 

 

pursuant to which the Company will grant certain registration rights to the Sponsor relating to the Sponsor Warrants and the Shares underlying the Sponsor Warrants.

 

Section 2.              Representations and Warranties of the Company.

 

As a material inducement to the Sponsor to enter into this Agreement and purchase the Sponsor Warrants, the Company hereby represents and warrants to the Sponsor (which representations and warranties shall survive the Closing Date) that:

 

A.            Organization and Corporate Power.  The Company is a corporation duly organized, validly existing and in good standing under the laws of the State of Delaware and is qualified to do business in every jurisdiction in which the failure to so qualify would reasonably be expected to have a material adverse effect on the financial condition, operating results or assets of the Company.  The Company possesses all requisite corporate power and authority necessary to carry out the transactions contemplated by this Agreement and the Warrant Agreement.

 

B.            Authorization; No Breach.

 

(i)            The execution, delivery and performance of this Agreement and the Sponsor Warrants have been duly authorized by the Company as of the Closing Date. This Agreement constitutes the valid and binding obligation of the Company, enforceable in accordance with its terms.  Upon issuance in accordance with, and payment pursuant to, the terms of the Warrant Agreement and this Agreement, the Sponsor Warrants will constitute valid and binding obligations of the Company, enforceable in accordance with their terms as of the Closing Date.

 

(ii)           The execution and delivery by the Company of this Agreement and the Sponsor Warrants, the issuance and sale of the Sponsor Warrants, the issuance of the Shares of common stock upon exercise of the Sponsor Warrants and the fulfillment of and compliance with the respective terms hereof and thereof by the Company do not, and will not as of the Closing Date, (a) conflict with or result in a breach of the terms, conditions or provisions of, (b) constitute a default under, (c) result in the creation of any lien, security interest, charge or encumbrance upon the Company’s capital stock or assets under, (d) result in a violation of, or (e) require any authorization, consent, approval, exemption or other action by or notice or declaration to, or filing with, any court or administrative or governmental body or agency pursuant to the certificate of incorporation of the Company or the bylaws of the Company, or any material law, statute, rule or regulation to which the Company is subject, or any agreement, order, judgment or decree to which the Company is subject, except for any filings required after the date hereof under federal or state securities laws.

 

C.            Title to Securities.  Upon issuance in accordance with, and payment pursuant to, the terms hereof and the Warrant Agreement, the Shares issuable upon exercise of the Sponsor Warrants will be duly and validly issued, fully paid and nonassessable.  Upon issuance in accordance with, and payment pursuant to, the terms hereof and the Warrant Agreement, the Sponsor will have good title to the Sponsor Warrants and the Shares issuable upon exercise of the Sponsor Warrants, free and clear of all liens, claims and encumbrances of any kind, other

 

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than (i) transfer restrictions hereunder and under the other agreements contemplated hereby, (ii) transfer restrictions under federal and state securities laws, and (iii) liens, claims or encumbrances imposed due to the actions of the Sponsor.

 

D.            Governmental Consents. No permit, consent, approval or authorization of, or declaration to or filing with, any governmental authority is required in connection with the execution, delivery and performance by the Company of this Agreement or the consummation by the Company of any other transactions contemplated hereby.

 

Section 3.              Representations and Warranties of the Sponsor.

 

As a material inducement to the Company to enter into this Agreement and issue and sell the Sponsor Warrants to the Sponsor, the Sponsor hereby represents and warrants to the Company (which representations and warranties shall survive the Closing Date) that:

 

A.            Organization and Requisite Authority.  The Sponsor is a limited partnership duly organized, validly existing and in good standing under the laws of the State of Delaware.  The Sponsor possesses all requisite power and authority necessary to carry out the transactions contemplated by this Agreement.

 

B.            Authorization; No Breach.

 

(i)            This Agreement constitutes a valid and binding obligation of the Sponsor, enforceable in accordance with its terms, subject to bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and other laws of general applicability relating to or affecting creditors’ rights and to general equitable principles (whether considered in a proceeding in equity or law).

 

(ii)           The execution and delivery by the Sponsor of this Agreement and the fulfillment of and compliance with the terms hereof by the Sponsor does not, and will not as of the Closing Date conflict with or result in a breach of the terms, conditions or provisions of the organizational documents of the Sponsor or any other agreement, instrument, order, judgment or decree to which the Sponsor is subject.

 

C.            Investment Representations.

 

(i)            The Sponsor is acquiring the Sponsor Warrants and, upon exercise of the Sponsor Warrants, the Shares issuable upon such exercise (collectively, the “Securities”), for its own account, for investment purposes only and not with a view towards, or for resale in connection with, any public sale or distribution thereof.

 

(ii)           The Sponsor is an “accredited investor” as such term is defined in Rule 501(a)(3) of Regulation D.

 

(iii)          The Sponsor understands that the Securities are being offered and will be sold to it in reliance on specific exemptions from the registration requirements of the United States federal and state securities laws and that the Company is relying upon the truth and accuracy of, and the Sponsor’s compliance with, the representations and warranties of the

 

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Sponsor set forth herein in order to determine the availability of such exemptions and the eligibility of the Sponsor to acquire such Securities.

 

(iv)          The Sponsor did not decide to enter into this Agreement as a result of any general solicitation or general advertising within the meaning of Rule 502(c) under the Securities Act of 1933, as amended (the “Securities Act”).

 

(v)           The Sponsor has been furnished with all materials relating to the business, finances and operations of the Company and materials relating to the offer and sale of the Securities which have been requested by the Sponsor. The Sponsor has been afforded the opportunity to ask questions of the executive officers and directors of the Company. The Sponsor understands that its investment in the Securities involves a high degree of risk and it has sought such accounting, legal and tax advice as it has considered necessary to make an informed investment decision with respect to the acquisition of the Securities.

 

(vi)          The Sponsor understands that no United States federal or state agency or any other government or governmental agency has passed on or made any recommendation or endorsement of the Securities or the fairness or suitability of the investment in the Securities by the Sponsor nor have such authorities passed upon or endorsed the merits of the offering of the Securities.

 

(vii)         The Sponsor understands that: (a) the Securities have not been and are not being registered under the Securities Act or any state securities laws, and may not be offered for sale, sold, assigned or transferred unless (1) subsequently registered thereunder or (2) sold in reliance on an exemption therefrom; and (b) except as specifically set forth in the Registration Rights Agreement, neither the Company nor any other person is under any obligation to register the Securities under the Securities Act or any state securities laws or to comply with the terms and conditions of any exemption thereunder. In this regard, the Sponsor understands that the Securities and Exchange Commission has taken the position that promoters or affiliates of a blank check company and their transferees, both before and after a Business Combination, are deemed to be “underwriters” under the Securities Act when reselling the securities of a blank check company. Based on that position, Rule 144 adopted pursuant to the Securities Act would not be available for resale transactions of the Securities despite technical compliance with the requirements of such Rule, and the Securities can be resold only through a registered offering or in reliance upon another exemption from the registration requirements of the Securities Act.

 

(viii)        The Sponsor has such knowledge and experience in financial and business matters, knows of the high degree of risk associated with investments in the securities of companies in the development stage such as the Company, is capable of evaluating the merits and risks of an investment in the Securities and is able to bear the economic risk of an investment in the Securities in the amount contemplated hereunder for an indefinite period of time.  The Sponsor has adequate means of providing for it or his/her current financial needs and contingencies and will have no current or anticipated future needs for liquidity which would be jeopardized by the investment in the Securities. The Sponsor can afford a complete loss of its or his investment in the Securities.

 

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Section 4.              Conditions of the Sponsor’s Obligations.

 

The obligation of the Sponsor to purchase and pay for the Sponsor Warrants is subject to the fulfillment, on or before the Closing Date, of each of the following conditions:

 

A.            Representations and Warranties.  The representations and warranties of the Company contained in Section 2 shall be true and correct at and as of the Closing Date as though then made.

 

B.            Performance.  The Company shall have performed and complied with all agreements, obligations and conditions contained in this Agreement that are required to be performed or complied with by it on or before the Closing Date.

 

C.            No Injunction.  No litigation, statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted, entered, promulgated or endorsed by or in any court or governmental authority of competent jurisdiction or any self-regulatory organization having authority over the matters contemplated hereby, which prohibits the consummation of any of the transactions contemplated by this Agreement or the Warrant Agreement.

 

D.            Warrant Agreement.  The Company shall have entered into a Warrant Agreement with a warrant agent on terms satisfactory to the Company and the Sponsor.

 

Section 5.              Conditions of the Company’s Obligations.

 

The obligations of the Company to the Sponsor under this Agreement are subject to the fulfillment, on or before the Closing Date, of each of the following conditions:

 

A.            Representations and Warranties.  The representations and warranties of the Sponsor contained in Section 3 shall be true and correct at and as of the Closing Date as though then made.

 

B.            Performance.  The Sponsor shall have performed and complied with all agreements, obligations and conditions contained in this Agreement that are required to be performed or complied with by the Sponsor on or before the Closing Date.

 

C.            Corporate Consents.  The Company shall have obtained the consent of its Board of Directors authorizing the execution, delivery and performance of this Agreement and the Warrant Agreement and the issuance and sale of the Sponsor Warrants hereunder.

 

D.            No Injunction.  No litigation, statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted, entered, promulgated or endorsed by or in any court or governmental authority of competent jurisdiction or any self-regulatory organization having authority over the matters contemplated hereby, which prohibits the consummation of any of the transactions contemplated by this Agreement or the Warrant Agreement.

 

E.             Warrant Agreement.  The Company shall have entered into a Warrant Agreement with a warrant agent on terms satisfactory to the Company.

 

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Section 6.              Termination.

 

This Agreement may be terminated at any time after December 31, 2011 upon the election by either the Company or the Sponsor upon written notice to the other party if the closing of the Public Offering does not occur prior to such date.

 

Section 7.              Survival of Representations and Warranties.

 

All of the representations and warranties contained herein shall survive the Closing Date.

 

Section 8.              Definitions.

 

Terms used but not otherwise defined in this Agreement shall have the meaning assigned to such terms in the Registration Statement.

 

Section 9.              Miscellaneous.

 

A.            Successors and Assigns.  Except as otherwise expressly provided herein, all covenants and agreements contained in this Agreement by or on behalf of any of the parties hereto shall bind and inure to the benefit of the respective successors of the parties hereto, whether so expressed or not. Notwithstanding the foregoing or anything to the contrary herein, the parties may not assign this Agreement, other than assignments by the Sponsor to affiliates thereof.

 

B.            Severability.  Whenever possible, each provision of this Agreement shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Agreement is held to be prohibited by or invalid under applicable law, such provision shall be ineffective only to the extent of such prohibition or invalidity, without invalidating the remainder of this Agreement.

 

C.            Counterparts.  This Agreement may be executed simultaneously in two or more counterparts, none of which need contain the signatures of more than one party, but all such counterparts taken together shall constitute one and the same agreement.

 

D.            Descriptive Headings; Interpretation.  The descriptive headings of this Agreement are inserted for convenience only and do not constitute a substantive part of this Agreement. The use of the word “including” in this Agreement shall be by way of example rather than by limitation.

 

E.             Governing Law.  This Agreement shall be deemed to be a contract made under the laws of the State of Delaware and for all purposes shall be construed in accordance with the internal laws of the State of Delaware.

 

F.             Amendments.  This letter agreement may not be amended, modified or waived as to any particular provision, except by a written instrument executed by all parties hereto.

 

[SIGNATURE PAGE FOLLOWS]

 

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IN WITNESS WHEREOF, the undersigned have executed this Agreement to be effective as of the date first set forth above.

 

 

	
 
    	
 
    	
COMPANY:
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
HBC   ACQUISITION CORP.
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
By:
    	
/s/   Peter S. Brodsky
    
	
 
    	
 
    	
Name:
    	
Peter   S. Brodsky
    
	
 
    	
 
    	
Title:
    	
Co-Chief   Executive Officer
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
SPONSOR:
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
HBC   INVESTORS LP
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
By:
    	
HBC   INVESTORS GP LLC,
    
	
 
    	
 
    	
 
    	
its   general partner
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
By:
    	
/s/   Peter S. Brodsky
    
	
 
    	
 
    	
 
    	
Name:
    	
Peter   S. Brodsky
    
	
 
    	
 
    	
 
    	
Title:
    	
Manager
    
						

 

Signature Page to Sponsor Warrants Purchase AgreementXcelMobility Inc. - Exhibit 10.1 - Filed by newsfilecorp.com

	Contract No.: GZLS20090507Z 	Contract Execution Date: May 25, 2009
  

Software License Contract 

Party A (“Licensee”): Guizhou Yi Mate Information Supermarket
Project Development Co., Ltd. 
Address: 225 Wenchang Bei Road, Guiyang

Legal Representative: Zheng Chengyu 

Party B (“Licensor”): Shenzhen CC Power Corporation

Address: Unit 501, Cyber Times Tower B, Tian’an Cyber Park, Futian District,
Shenzhen 
Principal: Wang Xili 

          1.    
  As an owner of rights and interests (including ownership and
intellectual property rights) relating to Mach5TM Web Accelerator
software, Party B licenses to Party A Mach5TM Web Accelerator
software (“Software”) (with 10,000 users) and provides Party A with services
relevant to the Software (“Service”). Party A agrees to use the Software and
accept the Service. Please refer to Appendix 1 hereto for details of the
Software and the Service.

          2.    
  Party B grants to Party A the license of the Software, applicable to web
acceleration systems and equipment of Party A and its subsidiaries and branches
(“Party A’s Equipment”). In the event the Software is upgraded, Party A will be
granted the license of the new Software for free.

          3.       
Price Terms 

          3.1      The
total price for the Software license and the Service (“Total Price”) shall be
RMB Seven Hundred and Eighty Four Thousand Only (784,000.00) . 

          3.2      The
abovementioned Total Price shall be fixed and unchangeable. 3.3 The
abovementioned Total Price shall include: 

          (1)      the
complete Software and documents referred to herein, which shall be provided by
Party
B; 
          (2)      expenses
which shall be assumed by Party B in accordance herewith, including but not
limited to expenses relating to installation, configuration and technical
support, as well as expenses relating to other technical services addressed in
the Appendix hereof and training expenses.

          4.       
Payment Terms 

          4.1      Party
A shall be liable to pay the Total Price to Party B in accordance with the
following terms.

          4.1.1  
Payment upon Delivery 

          After
the Software and relevant information specified hereunder are delivered by Party
B to Party A and the systems are launched for trial run, as following the
execution of this Contract, Party A shall, within 15 working days and against
the following documents provided by Party B, pay to Party B 40% of the Total
Price, that is, RMB Three Hundred and Thirteen Thousand and Six Hundred Only
(313,600.00) .

          (1)     
formal invoice with its amount equivalent to 40% of the Total
Price; 
          (2)      one
payment request sent by Party B.

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          4.1.2 
 Payment upon Acceptance 

          After
the systems are delivered for use, final acceptance shall be conducted within 4
months of the systems’ trial run. Party A shall, within 15 working days after
executing the final inspection conformity certificate and against the following
documents provided by Party B, pay to Party B 50% of the Total Price, that is,
RMB Three Hundred and Ninety Two Thousand Only (392,000.00) .

          (1)      formal
invoice with its amount equivalent to 50% of the Total
Price; 
          (2)      one
payment request sent by Party B.

          4.1.3  
Warranty Period Balance 

          Party
A shall, within 15 working days following the expiration of the warranty period
and against the following documents provided by Party B, pay to Party B 10% of
the Total Price, that is, RMB Seventy Eight Thousand and Four Hundred Only
(78,400.00) .

          (1)      formal
invoice with its amount equivalent to 10% of the Total
Price; 
          (2)     
one payment request sent by Party
B.; 
          (3)      one
certificate regarding warranty period expiration executed by Party A.

          4.2      In
the event Party B is liable to pay damages and/or compensation in accordance
herewith, Party A shall have the right to deduct corresponding amounts from any
abovementioned payment.

          5.       
Delivery Terms 

          5.1      Party
B commits to deliver all Software and documents to the site of Party A hereof in
[ ] batches prior to May 27, 2009, as in accordance with the schedule specified
hereunder, and to cooperate regarding implementation.

          5.2      Upon
the delivery, Party A shall submit 2 original certificates of delivered to Party
B. Party A’s representatives will verify the quantities of the goods delivered
against the certificate of delivered, execute these 2 original certificates of
delivered and return one (1) original certificate to Party B. Execution of Party
A’s representatives on such original certificates of delivered will only prove
the number of boxes of the goods received by Party A on the execution date and
whether or not the boxes’ surfaces have material damages.

          5.3      If
Party A discovers errors or omissions during its unpacking inspection, Party B
shall, at its own expenses, be liable to ship the goods under such errors or
omissions to the destination specified hereunder within three working days upon
its receipt of the notice relating to such errors or omissions and assume the
liability of breach arising therefrom.

          6.       
Installation, Configuration and Inspection and Acceptance Location of System
Installation: 

          6.1      Both
Parties shall, within the term hereof, respectively designate one (1)
representative to manage technical issues relating hereto, whose work plans
shall be formulated through consultations of both Parties’ representatives. In
the event there emerge technical issues or disputes regarding technical issues,
both Parties’ representatives shall analyze causes, distinguish responsibilities
and work out solutions through consultations. Working progress during
installation, configuration and inspection and acceptance, issues discovered and
solutions, as well as everyday main tasks shall all be recorded on the job log.
The daily records on the job log shall be confirmed by both Parties’
representatives with their execution, with each Party holding one (1) copy.

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          6.2     
Party B shall be liable to conduct the Software installation and configuration
prior to April 23, 2009, as in accordance herewith. Party A’s representative
shall conduct preliminary inspection and acceptance of the Software after it is
installed, configured and runs steadily for 3 working days. The preliminary
testing, inspection and acceptance shall be subject to the engineering
technology norms and Q and A specified under Appendix [ ], and satisfy testing,
inspection and acceptance requirements specified under the Appendix.

          6.3      With
Party B’s written request, the testing for preliminary inspection and acceptance
shall be conducted by Party A in accordance with relevant provisions under
Appendix [ ]. If the testing results conform to relevant provisions under
Appendix [ ], Party A will execute one preliminary inspection conformity
certificate. If it fails the preliminary inspection, Party B shall take all
remedial measures to facilitate another preliminary inspection, with expenses
relating thereto to be born by Party B. If it again fails to satisfy the
requirements during the second preliminary inspection, Party A shall have the
right to terminate this Contract. Under such circumstances, Party B must refund
relevant payments and expenses which have been collected, as well as
corresponding interest calculated in accordance with the contemporary loan
interest rate of the People’s Bank of China. Party B shall assume the liability
of breach and compensate Party A for all its losses.

          6.4      The
Software shall be under trial run for 4 months from the execution date of the
preliminary inspection conformity certificate. The trial run shall demonstrate
that functions and performance of the Software conform to Party B’s commitment
and warranty under Appendix [ ]. If, during the trial run, any inconformity
between the Software and the provisions hereunder, which is caused by Party B,
is discovered, Party B shall be liable to correct and redress such at its own
expenses till the Software has the functions and performance warranted by Party
B hereunder. Meanwhile, the trial run shall be postponed correspondingly in
accordance with the period of such correction and redress. In the event material
communication failure is caused by Party B’s Software, the trial run shall
resume upon the repair of such failure.

          6.5      With
Party B’s written request, the testing for final inspection and acceptance shall
be conducted upon the expiration of the trial run period. If all performance and
systems’ index of the Software conform to Appendix [ ], Party will execute three
(3) final inspection conformity certificates, with two (2) of such kept by Party
A.

          If
the Software fails the final inspection, Party B shall take all remedial
measures to facilitate another testing for final inspection and acceptance,
which is to be conducted as soon as possible, with expenses relating thereto to
be born by Party A. Party B shall assume the liability of breach and compensate
Party A for all its losses.

          6.6     
If the Software also fails the second testing for final inspection due to Party
B, Party A shall have the right to terminate this Contract. Under such
circumstances, Party B must refund relevant payments and expenses which have
been collected, as well as corresponding interest calculated in accordance with
the contemporary loan interest rate of the People’s Bank of China. Party B shall
assume the liability of breach and compensate Party A for all its losses.

          6.7      Party
B’s responsibilities under the warranty period specified herein shall not be
waived, even if the Software passes the testing for final inspection and
acceptance.

          7.       
Guaranty, Warranty 

          7.1      Party
A warrants that the Software provided by Party B will be used for the purposes
specified hereunder. 

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          7.2      The
warranty period of the Software provided by Party B shall be 12 months from the
execution date of the final inspection conformity certificate (“Warranty
Period”). 

          7.3      Party
B warrants that, during the Warranty Period, the Software has no defect which is
caused by Party B and affects the normal operation of Party A’s Equipment and
systems. During the Warranty Period, Party B shall repair or replace defective
Software and upgrade the Software for free.

          7.4      During
the Warranty Period, Party B shall provide Party A with free 7*24 technical
support services regarding the Software hereunder. Party B shall conduct
troubleshooting and solve problems for Party A within 8 hours upon its receipt
of Party B’s notice. Upon Party A’s request, Party B shall conduct
troubleshooting and solve problems by way of onsite support, telephone
consultation and so on. Please refer to Appendix [ ] for time for response and
troubleshooting.

          7.5     
Upon the expiration of the Software’s Warranty Period, both Parties may reach
agreement on Party B’s continuous provision of relevant support services through
consultations. Party B shall provide Party A with relevant support services at
the then-current standard rates and on the most-favored conditions with prices
no higher than those offered to other clients at the same period of time.

          7.6      Party
B shall be liable to compensate Party A for its losses caused by Party B’s
breach of the abovementioned warranty obligations and the service obligations on
the most-favored conditions after the Warranty Period.

          8.        
Training 

          8.1      Training
Purposes: to facilitate independent use of the Software hereunder by Party A or
end users 8.2 Training Contents: centralized training for installation and use
of Mach5TM Web Accelerator Software 8.3 Training Time and Place:
Party B will provide Party A will technical trainings with no less than 3
working days. Specific timing for training shall be decided by both Parties
through consultations. All expenses relating to the training shall be assumed by
Party A. The training place shall be the one where the end user is located.
Specific training manners shall be decided by both Parties through
consultations, provided that Party B must ensure that the training quality can
accomplish the abovementioned training purposes.

          9.        
Software Ownership 

          9.1      Party
A never obtains ownership or copyright of the Software, whether in whole or in
part, all of which shall still belong to Party B.

          9.2      Party
A may transfer all of its rights hereunder to any successor of Party A’s
Equipment, with the transfer notice delivered by Party A to Party B.

          10.   
   Liability of Breach and Limitations on Responsibilities 

          10.1   
Both Parties will perform strictly in accordance with this Contract. If either
Party breaches any provisions hereunder and causes economic losses to the other
Party, the non-breaching Party shall have the right to require the termination
of this Contract, with the breaching Party assuming the liability for
compensation.

          10.1.1
 In the event Party B’s Software delivery or service provision is delayed,
it shall pay damages to Party A in accordance with the following
percentages:

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          For
each delinquent day, Party B shall pay to Party A the damages equivalent to 1%
of the total Contract Price. Party B’s payment of damages shall not release it
from performing its responsibilities hereunder. When the damages payable by
Party B reaches 10% of the total price, Party A shall have the right to dissolve
this Contract, while Party B shall pay the damages in accordance with this
Section, refund all amounts already paid by Party A, and compensate Party A for
its losses. 

          10.1.2 
If the preliminary or final inspection of the Software is delayed for reasons
not caused by Party A, in addition to the application of Section 6 hereof, Party
B shall also pay damages to Party A in accordance with the following
percentages: For each delinquent day, Party B shall pay to Party A the damages
equivalent to 1% of the total Price. Party B’s payment of damages shall not
release it from performing its responsibilities hereunder. When the damages
payable by Party B reaches 10% of the total price, Party A shall have the right
to dissolve this Contract, while Party B shall pay the damages in accordance
with this Section, refund all amounts already paid by Party A, and compensate
Party A for its losses. 

          10.2   
 If the schedule under Appendix [ ] hereof has not been performed due to
Party A, with Party A’s written confirmation, such schedule will be
correspondingly postponed in accordance with the time confirmed by Party A.

          10.3   
 If, during the Warranty Period, Party B fails to respond in a timely
manner or complete troubleshooting within the time limit specified hereunder,
Party B shall pay to Party A the damages equivalent to 0.1% of the total
Contract price for each delinquent day and compensate Party A for all its
losses. 

          10.4    
During the term of this Contract, Party B is not permitted to establish business
relationships with telecommunication operators other than China
Telecommunications Corporation Guizhou Branch or companies with business models
similar to that of Party A in Guizhou. If Party B is in breach of such
provision, it shall pay to Party A the damages equivalent to 100% of the total
price and refund all amounts already paid by Party A.

          11.       
Infringement 

          11.1    
If anybody files law suits, administrative proceedings or claims (collectively
“Infringement Accusation”), alleging that Party A’s use of the Software
hereunder infringes its ownership or intellectual property rights, Party B shall
compensate Party A for all expenses it assumes in this regard, including but not
limited to expenses arising from its endeavor to obtain lawful rights and to
make full payments, and compensation, litigation (arbitration) fees, attorney
fees specified under final judgment (award or results), intermediation,
settlement of the abovementioned Infringement Accusation.

          11.2   
 If, during the hearing of the Infringement Accusation by relevant courts
or administrative authorities, Party A is prohibited from continuously using the
Software hereunder, in whole or in part, Party B shall, at its discretion ,
adopt one of the following measures: 

          (1)      cause
Party A to regain the right to use the abovementioned Software; or 

          (2)      replace
or change the abovementioned Software so that Party A may continue using such
Software regardless of the limitation imposed by the abovementioned
prohibition.

          Party
B’s obligation to compensate Party A for its losses relating hereto shall not be
waived by the abovementioned measures taken by Party B. 

          Otherwise
Party A shall have the right to dissolve this Contract, while Party A shall
refund all amounts already paid by Party A within ten days upon its receipt of
Party A’s Contract 

5

dissolution notice, pay to Party A the damages twice (2) as
much as the total Contract price, and compensate Party A and end users for all
their losses arising therefrom.

          12.      
 Confidentiality Obligation 

          12.1    
One Party hereof (“Information Disclosing Party”) shall have lawful ownership
and/or other rights of all information (“Confidential Information”) it provides
to the other Party hereof (“Information Receiving Party”) in accordance with or
with regard to this Contract, including but not limited to all kinds of
technical and business information, specifications, drawings, documents and
know-how. 

          12.2    
Except activities authorized hereunder, the Information Receiving Party shall
protect the Confidential Information as trade secrets, without copying or
disclosing such to third parties in whole or in part. The Information Receiving
Party is permitted to disclose the Confidential Information provided by the
other Party to its employees who really have a need to know such and only for
the purposes hereunder, provided that it shall meanwhile instruct its employees
to abide by the confidentiality and non-disclosure obligations specified under
this Section. The Receiving Party is permitted to copy the Confidential
Information for the purpose of performing the obligations hereunder. After the
termination or dissolution of this Contract, the Receiving Party must return all
the Confidential Information to the Disclosing Party and destroy all copies. The
Receiving Party shall properly keep the Confidential Information and be fully
liable for theft, inadvertent reveal or other issues impairing the
confidentiality of such Confidential Information, which arise when the
Confidential Information is in the Receiving Party’s possession. The Receiving
Party shall be liable for compensation, if the Disclosing Party incurs losses
therefor.

          12.3    
The limitation on the Confidential Information in this Section shall be
inapplicable under the following circumstances: 

          (1)      the
Confidential Information has entered the public domain not due to the fault of
the Information Receiving Party; 

          (2)      the
Confidential Information is independently developed by the Information Receiving
Party, as having been proved by relevant records of such Party; 

          (3)      the
Confidential Information is acquired by the Information Receiving Party from a
party which is not in breach of any confidentiality obligation to the
Information Disclosing Party; or 

          (4)      the
Confidential Information is required to be disclosed by laws, provided that the
Information Receiving Party shall notify the Information Disclosing Party
reasonably in advance so that the latter can take protective measures it deems
necessary.

          12.4    
The term of confidentiality hereunder shall be ten years from the effective date
hereof. 

          13.       
Force Majeure 

          13.1   
 The term “Force Majeure” hereunder refers to earthquake, typhoon, flood,
fire, wars or other unforeseen objective circumstances, the occurrence and
results of which are unpreventable, unavoidable and unsurmountable and which are
encountered by the Parties hereof.

          13.2    
 If either Party hereof cannot perform or cannot fully perform its
obligations hereunder due to Force Majeure, it shall notify the other Party
hereof within 2 days after the occurrence of said Force Majeure, and provide the
other Party with the Force Majeure evidence issued by relevant authorities
within 14 calendar days after the occurrence of said Force Majeure.

6

          13.3    
Unless otherwise specified under laws, if this Contract cannot be performed due
to Fore Majeure, the responsibilities will be exempted in whole or in part based
on the impact of such Force Majeure. If Force Majeure occurs after the
performance of this Contract is delayed, the responsibilities cannot be
exempted. 

          13.4   
 If the performance of this Contract is suspended for 120 calendar days or
above due to Force Majeure, Party B shall have the right to terminate this
Contract and notify Party A in writing. 

          14.      
Governing Laws and Dispute Resolution 

          14.1    
This Contract shall be governed by the laws of the People’s Republic of China.
14.2 Any and all disputes arising from or in connection with this Contract shall
be solved through both Parties’ friendly consultations. If consultations fail,
lawsuits will be filed with the people’s court where Party B is located to solve
such disputes.

          14.3    
During the litigation, both Parties will continue to perform other parts of the
Contract, which are not involved in the litigation.

          15.      
Effectiveness and Miscellaneous 

          15.1    
Both Parties will assume all their respective taxes and fees relating to the
performance of this Contract, as imposed by relevant PRC authorities pursuant to
tax laws of China. 

          15.2    
If any terms hereunder become illegal, invalid or unenforceable at any time,
which does not fundamentally affect the effectiveness hereof, the remaining
terms hereunder shall not be affected.

          15.3    
Neither Party shall disclose the contents hereof to any third party without the
other Party’s consent. 

          15.4    
All amendments and supplements to this Contract shall be in writing and become
integral parts of this Contract upon execution by both Parties’ authorized
representatives. 

          15.5    
All headings hereunder are for reference only. The Parties’ rights and
obligations shall be subject to the contents under the terms. 

          15.6    
All notices relating to both Parties’ performance of this Contract or in
connection herewith must be in writing and sent by registered mails, fax or
similar communication method confirmed by both Parties to the addresses
specified hereunder.

          15.6.1 
Addresses for Notice 

          If
either Party changes its contact person or contact information, it shall notify
the other Party in writing and two weeks in advance, or it shall compensate the
other Party for all its losses arising therefrom. 

          Party
A: Guizhou Yi Mate Information Supermarket Project Development Co.,
Ltd. 
          Address:
225 Wenchang Bei Road,
Guiyang 
          Contact
Person: Wang
Zuling 
          Tel.:
0851-5251760 
          Fax:
0851-5250814 
          Zip
Code:
550001 
          Party
B: Shenzhen CC Power
Corporation 
          Address:
Unit 501, Cyber Times Tower B, Tian’an Cyber Park, Futian District,
Shenzhen 
          Contact
Person: Zheng
Hongtao 
          Tel.:
0755-83487878 

7

          Fax:
0755-83487881 
          Zip
Code: 518040 

          15.7    
Without the other Party’s written consent, neither Party may use or copy the
other Party’s trade names, trademarks, logos, service marks, signs, codes,
models or abbreviations in advertisements or public places; and neither Party
may allege that it has ownership or use right of the other Party’s trade names,
trademarks, logos, service marks, signs, codes, models or abbreviations. 

          15.8    
Nothing hereunder shall be deemed or construed as joint venture, partnership or
agent relationships between both Parties. 

          15.9    
Certain obligations of the Parties hereunder, including confidentiality, shall
be binding on the Parties for 3 years after the termination or expiration of
this Contract. 

          15.10  
This Contract has 4 counterparts, with each Party holding 2 copies. The
Appendices hereof are integral parts of this Contract and are equally authentic
as this Contract. 

          15.11  
This Contract shall take effect once executed by both Parties and affixed with
the company seal or the seal for contracts.

	Party A: seal of Guizhou Yi Mate Information 

      Supermarket
      Project Development Co., Ltd. 		Party B: seal of Shenzhen CC Power 

    Corporation    
	  	 	  
	Legal Representative or Authorized 	 	Principal or Authorized Representative: 
	Representative: (signature) 	 	(signature) 
	Handled by: Shang Donglin, Wang Zuling, 		Department Head: 
	Liao X 	 	 
	  	 	Handled by: Zheng Hongtao 

May 25, 2009

8

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