Document:

exv10w3

Exhibit 10.3

Participation Agreement

China

	 	 	 	 	 	 	 	 	 
	 

	 	Base Agreement
	 	#
	 	 	4908009099	 
	 

	 	Master SOW
	 	#
	 	 	4908009104	 
	 

	 	PA
	 	#
	 	 	4908020445	 

EFFECTIVE DATE OF THIS PARTICIPATION AGREEMENT (“PA”): June 15, 2008

This PA between IBM Global Services (China) Co. Ltd. (“Buyer”) and Shanghai Camelot
Information Technology CO., LTD (“Supplier”) adopts and incorporates by reference all of the
terms and conditions of the Base Agreement
# 4908009099 in effect as of the date hereof (“Base Agreement”)and Statement of Work/Master
Statement of Work
# 4908009104 in effect as of the date hereof (“SOW” / “Master SOW”). This PA automatically
incorporates any future amendments to the Base Agreement referenced in this PA and any future
amendments to the SOW/Master SOW # 4908009104, if referenced in this PA, and will be made a part of
this PA to the extent that the amendments do not conflict with the terms of this PA.

However, any future amendments to the SOW/Master SOW referenced in this PA which affect price and
part numbers for Deliverables are automatically incorporated and made a part of this PA.

The parties to this PA agree that purchases and sales of the Deliverables, Products or Services, as
defined in the Base Agreement, will be conducted in accordance with, and be subject to, the terms
and conditions of this PA, the Base Agreement and any applicable Work Authorizations.

AMENDMENTS: The following terms and conditions amend provisions of the Base Agreement to bring the
conduct of the parties’ transactions into conformity with local law and practice.

1.0 Warranty

Notwithstanding the relevant provision of the Base Agreement, the warranty relating to euro dollar
shall not apply.

In addition to the representations and warranties in the Base Agreement, Supplier makes the
following on-going representation and warranty:

(1) that Deliverables, Products and Services which interact in any capacity with data, or when
used in combination with other information technology, support the code page standard initially
referenced as GB 18030; and

(2) it is familiar with all local laws and regulations pertaining to bribery, corruption and
prohibited business practices and has not and will not partake in any actions in relation to the
transactions contemplated herein in violation of such laws; and

(3) it and its Affiliates has not and will not offer, promise or make or agree to make payments or
gifts (of money or anything of value) directly or indirectly to anyone for the purpose of
influencing or inducing anyone to influence decisions in favor of Buyer; and

(4) unless expressly disclosed to Buyer in writing prior to the execution of this Agreement, it
does not know nor has reason to believe that any of the owners, principals or senior management of
Supplier, its Affiliates, or lower tier subcontractors (1) are or were persons acting in an
official capacity for or on behalf of a government; or (2) have a familial relationship to persons
acting in an official capacity for or on behalf of a government.

2.0 Termination of a SOW or WA

The following clause shall be added into the end of the subsection titled “Termination of this Base
Agreement”: Notwithstanding the foregoing, Supplier recognizes and agrees that Buyer may
immediately terminate this Agreement for Cause by written notice to Supplier in the case that (1)
Supplier breaches the Ongoing Warranties pertaining to bribery listed above, or (2) when Buyer
reasonably believes such a breach has occurred or is likely to occur. For purposes of the
subsection below titled “Termination of a SOW or WA” in the Base Agreement, the term Cause shall
be deemed to include these events.

3.0 Choice of Forum

Notwithstanding Section 14.3 of the Base Agreement, all disputes arising out of or in connection
with this Agreement shall be settled by the parties through friendly negotiation. In the event said
disputes can not be settled through friendly negotiation, either Party may submit the dispute to
arbitration to be conducted by China International Economic and Trade Arbitration Commission in
Beijing in accordance with its then current arbitration rules. The arbitration tribunal shall be
composed of three (3) arbitrators. The arbitral award shall be final and binding. This PA will be
governed by the laws of the People’s Republic of China.

Page 1 of 2

 

Participation Agreement

China

	 	 	 	 	 	 	 	 	 
	 

	 	Base Agreement
	 	#
	 	 	4908009099	 
	 

	 	Master SOW
	 	#
	 	 	4908009104	 
	 

	 	PA
	 	#
	 	 	4908020445	 

4.0 Prior Communications and Order of Precedence

In the event of any conflict in the terms of the Base Agreement, the order of precedence will be:
(i) the quantity, payment and delivery terms of the relevant WA; (ii) the relevant SOW; (iii) this
PA; (iv) the Base Agreement; and (v) the remaining terms of the relevant WA.

5.0 Survival

In the event the Base Agreement is terminated, the terms and conditions of the Base Agreement
incorporated by reference herein shall survive such termination and remain in effect for purposes
of this PA only.

Page 2 of 2

 

Participation Agreement

China

	 	 	 	 	 	 	 	 	 
	 

	 	Base Agreement
	 	#
	 	 	4908009099	 
	 

	 	Master SOW
	 	#
	 	 	4908009104	 
	 

	 	PA
	 	#
	 	 	4908020445	 

4.0 Prior Communications and Order of Precedence

In the event of any conflict in the terms of the Base Agreement, the order of precedence will be:
(i) the quantity, payment and delivery terms of the relevant WA; (ii) the relevant SOW; (iii) this
PA; (iv) the Base Agreement; and (v) the remaining terms of the relevant WA.

5.0 Survival

In the event the Base Agreement is terminated, the terms and conditions of the Base Agreement
incorporated by reference herein shall survive such termination and remain in effect for purposes
of this PA only.

Page 2 of 2exv10w4

Exhibit 10.4

EMPLOYMENT AND CONFIDENTIALITY AGREEMENT

THIS EMPLOYMENT AGREEMENT (this “Agreement”) is made and entered into effective as of [•]
(the “Effective Date”), by and between Camelot Information Systems Inc. (the “Company”), and [•],
an individual residing in [•] (the “Employee”).

WITNESSETH:

WHEREAS, the Company desires to employ the Employee, and the Employee desires to accept such
employment, on the terms and subject to the conditions set forth in this Agreement.

NOW, THEREFORE, in consideration of the foregoing recitals and for other good and valuable
consideration, the parties hereto covenant and agree as follows:

	1.	 	EMPLOYMENT
	 
	 	 	The Company hereby employs Employee in the position of [•], and the Employee hereby accepts
such employment, upon the terms and conditions set forth in this Agreement.
	 
	2.	 	TERM
	 
	 	 	Subject to the earlier termination of this Agreement pursuant to Section 6 hereof,
the term of the Employee’s employment under this Agreement shall be three years, commencing on [•] (the “Effective
Date”), until [•] (the “Employment Term”).
	 
	3.	 	DUTIES AND RESPONSIBILITIES
	 
	 	 	The Employee agrees to serve as the [•] of the Company. In this position, the Employee will be
responsible for [                                        ]. Employee’s duties at the Company will also
include other relevant jobs assigned by the Company’s Board of the Directors (the “Board”) or
the Chairman/CEO.
	 
	 	 	The Employee shall devote all of his or her working time, attention and skills to the
performance of his or her duties and shall faithfully and diligently serve the Company in
accordance with this Agreement, and the guidelines, policies and procedures of the Company as
approved from time to time by the Board.
	 
	 	 	The Employee shall use his or her best endeavors to perform the duties hereunder. The Employee
shall not, without the prior consent of the Board, become an employee of

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	 	 	any entity other than
the Company and any subsidiary of the Company, and shall not be concerned or interested in any
other business competitive with that carried on by the Company or its
subsidiaries. The Company shall
have the sole discretion to determine, and shall notify the Employee, from time to time, as to
which other companies are deemed to be in business competitive with that carried on
by the Company or its subsidiaries. Notwithstanding the foregoing, nothing in this clause shall preclude the
Employee from holding or being otherwise interested in any shares or other securities of such
companies that are listed on
any securities exchange or recognized securities market anywhere, provided that,
if the Employee holds a beneficial interest of more than 1% of any shares or other securities
of such companies that are listed on any securities exchange or recognized securities market anywhere,
the Employee
shall notify the Company in writing of his or her existing interest in such shares or
securities in a timely manner and with such details and particulars as the Company may
reasonably require, provided further that before the Employee obtains such additional interest
or such additional shares, the Employee shall first notify the Company in writing and with
such details and particulars as the Company may reasonably require.
	 
	4.	 	LOCATION
	 
	 	 	The Employee will be based in the Company’s office in [Beijing] or such other locations that
the Company may consider necessary for carrying out his or her duties.
	 
	5.	 	COMPENSATION AND BENEFITS
	 
	 	 	Subject to the provisions of this Agreement, the Company shall pay and provide the following
compensation and other benefits to the Employee during the Employment Term as compensation for services rendered hereunder:

	 	(a)	 	Annual Salary. The Employee’s compensation shall consist of (X)
an annual salary of [•] for the first year of
the Employment Term, subject to annual review
and adjustment by the Company in the first quarter every calendar
year thereafter and (Y) a
performance bonus based on his or her performance, as determined in the discretion of the Board.
Such compensation shall be payable in accordance with the Company’s ordinary payroll practices as may be established from time to time.
	 
	 	(b)	 	Benefits. The Employee is eligible for participation in any standard
employee benefits plan of the Company that currently exists or may be adopted by the
Company in the future, including, but not limited to, any retirement plan, life insurance
plan, health insurance plan and travel/holiday plan.
	 
	 	(c)	 	Vacation. The Employee shall be entitled to two weeks paid vacation each
year during the Employment Term. Unused vacation from the
prior year can not be carried over to the succeeding year and will be forfeited without payment.
	 
	 	(d)	 	Taxation. The Employee is responsible to report his or her compensation to
the relevant tax authority in accordance with relevant laws and regulations. The Company or
any of its subsidiaries will report his or her compensation to the
relevant tax authorities and
withhold an adequate portion of his or her salary for the relevant tax if required by
relevant laws and regulations.

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	6.	 	TERMINATION OF THE AGREEMENT

	 	(a)	 	By the Company. During the Employment Term, the
Company may terminate the Employee’s employment for
“cause”, at any
time, without notice or remuneration, if (1) the Employee is
convicted of, or pleads guilty
or nolo contendere to, a felony or to an act of fraud, misappropriation or embezzlement,
(2) the Employee has been negligent or acted dishonestly to the detriment of the Company,
or (3) the Employee has engaged in actions amounting to misconduct or failed to perform
his or her duties hereunder and such failure continues after
the Employee are afforded a reasonable opportunity to cure such failure. In addition, the
Company may terminate the Employee’s employment without cause at any time
and without notice. Subject to Section 6(d) below, in
the case of the Employee’s
termination of employment by the Company without cause, the Company will pay the
Employee a severance payment
equal to three months of his or her salary in a single sum.
	 
	 	(b)	 	By Employee. The Employee may resign his employment at any time upon
three months written notice to the Company, provided that, in the event that the Employee
provides less than three months written notice, the Employee will be required to pay to the
Company any damages resulting from the Employee’s resignation, up to an amount equal to
three months of his or her salary.
	 
	 	(c)	 	Subsequent to a Change in Control. If there is a Change of Control1 and the
Employee’s employment is terminated by the Company within 12 months after the Change of Control, other
than for cause or death, then the Employee shall be entitled to receive immediately a
severance payment equal to 3 months of the Employee’s
then-current salary. All of the Employee’s unvested
options or other equity-based compensation shall vest and be issued to the Employee immediately.

 

			
	1	 	For purposes of the Agreement, a “Change in
Control” shall be deemed to have occurred with respect to the Company
upon the occurrence of any of the following events (provided that any
public offering of the Company’s securities shall not constitute a
Change in Control):
	 
	 	 	(A)     any “person” or “group” (as such terms are used in Sections
13(d) and 14(d) of the Securities Exchange Act of 1934, as amended
(the “Exchange Act”), and the rules and regulations promulgated
thereunder) is or becomes the “beneficial owner” (as defined in Rules
13d-3 and 13d-5 under the Exchange Act), directly or indirectly, of
more than 20% of the total outstanding voting stock of the Company,
excluding, however, (1) any acquisition directly from the Company,
other than an acquisition by virtue of the exercise of a conversion
privilege unless the security being so converted was itself acquired
directly from the Company; (2) any acquisition by the Company; or (3)
any acquisition by any employee benefit plan (or related trust)
sponsored or maintained by the Company or any entity controlled by
the Company;
	 
	 	 	(B)     the individuals who constitute the Board as of the
Commencement Date (the “Incumbent Board”) cease to constitute a
majority of the Board; provided, however, (1) that if the nomination
or election of any new director of the Company was approved by a
majority of the Incumbent Board, such new director shall be deemed a
member of the Incumbent Board and (2) that no individual shall be
considered a member of the Incumbent Board if such individual
initially assumed office as a result of either an actual or
threatened “Election Contest” (as described in Rule 14a-11
promulgated under the Exchange Act) or as a result of a solicitation
of proxies or consents by or on behalf of any “person” or “group”
identified in clause (A) above;
	 
	 	 	(C)     a reorganization of the Company or the Company consolidates
with, or merges with or into another person or entity or conveys,
transfers, leases or otherwise disposes of all or substantially all
of its assets to any person or entity, or any person or entity
consolidates with or merges with or into the Company; provided,
however, that any such transaction shall not constitute a Change in
Control if (1) the shareholders of the Company immediately before
such transaction own, directly or indirectly, immediately following
such transaction in excess of 50% of the combined voting power of the
outstanding voting securities of the corporation or other person or
entity resulting from such transaction, (2) no “person” or “group”
owns 20% or more of the outstanding voting securities of the
corporation or other person or entity resulting from such
transaction, and (3) a majority of the Incumbent Board remains;
or
	 
	 	 	(D)     the approval by the shareholders of the Company of a complete
liquidation or dissolution of the Company.

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	 	(d)	 	Release of Claims. The Company shall not be required to make the payments
and provide the benefits under Sections 6(a) or 6(c) above, unless the Employee
executes and delivers to the Company, within 60 days following the Employee’s
termination of employment, a general waiver and release of claims and the release has
become effective and irrevocable in its entirety. The Employee’s failure or refusal to
sign the release (or his revocation of such release in accordance with applicable laws)
shall result in the forfeiture of the payments and benefits under Sections 6(a) or
6(c).

	7.	 	CONFIDENTIALITY AND NON-DISCLOSURE

	 	 	In the course of the Employee’s services, the Employee may have access to the Confidential
Information (as defined below) of the Company, its subsidiaries or any other third party,
including but not limited to those embodied in memoranda, manuals, letters or other documents,
computer disks, tapes or other information storage devices, hardware, or other media or
vehicles, pertaining to the businesses of the Company, its subsidiaries or such other third
party. All materials containing any such Confidential Information are the property of the
Company, its subsidiaries, and/or such third party, and shall be returned to the Company, its
subsidiaries, and/or such third party upon expiration or earlier termination of this
Agreement. The Employee shall not directly or indirectly disclose or use any such Confidential
Information, except as required in the performance of his or her duties in connection with the
Employment.
	 
	 	 	During the Employment Term and for a period of two years following the termination or
expiration of this Agreement (for whatever reason), the Employee shall hold the Confidential
Information in strict confidence; the Employee shall not disclose the Confidential Information
to anyone except other employees of the Company who have a need to know the Confidential
Information in connection with the Company’s business. The Employee shall not use the
Confidential Information other than for the benefits of the Company.
	 
	 	 	“Confidential Information” means information deemed confidential by the Company and its
subsidiaries, treated by the Company and its subsidiaries or which the Employee knows or ought
reasonably to have known to be confidential, and trade secrets, including without limitation
designs, processes, pricing policies, methods, inventions, conceptions, technology, technical
data, financial information, corporate structure and know-how, relating to the business and
affairs of the Company and its subsidiaries, affiliates and business associates, whether
embodied in memoranda, manuals, letters or other documents, computer disks, tapes or other
information storage devices, hardware, or other media or vehicles. Confidential Information
does not include information generally known or released to public domain through no fault of
the Employee.
	 
	 	 	This Section 7 shall survive the termination of this Agreement for any reason.
	 
	8.	 	INVENTIONS ASSIGNMENT
	 
	 	 	The Employee understands that the Company and its subsidiaries may engage in research and
development and other activities in connection with its business and that, as an essential
part of the Employee’s employment, the Employee is expected to make new contributions to and create
inventions of value for the Company and its subsidiaries.
	 
	 	 	From and after the Effective Date, the Employee shall disclose in confidence to the Company
and its subsidiaries all inventions, improvements, designs, original works of authorship,
formulas, processes, compositions of matter, computer software programs, databases, mask works
and trade secrets, whether or not patentable, copyrightable or

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	 	 	protectible as trade secrets
(collectively, the “Inventions”), which the Employee may solely or jointly conceive or develop
or reduce to practice, or cause to be conceived or developed or reduced to practice, during
the period of his or her employment at the Company. The Employee acknowledges that
copyrightable works prepared by him or her within the scope of and during the period of his or
her employment with the Company are “works for hire” and that the Company and its subsidiaries
will be considered the author thereof. The Employee agrees and acknowledges that all the
Inventions are works made for hire and shall be the sole and exclusive property of the Company
and its subsidiaries, including any copyrights, patents, mask work rights, trade secrets, or
other intellectual property rights pertaining hereto. If it is determined that any such works
are not works made for hire, the Employee hereby assigns all his or her right, title and
interest, including rights of copyrights, patents, mark work rights, trade secrets, and other
intellectual property rights, to or in such Inventions to the Company and its subsidiaries or
its successor in interest without further consideration.
	 
	 	 	The Employee agrees to assist the Company and its subsidiaries in every proper way to obtain
for the Company and its subsidiaries and enforce patents, copyrights, mask work rights, trade
secret rights, and other legal protection for the Inventions. The Employee will execute any
documents that the Company and its subsidiaries may reasonably request for use in obtaining or
enforcing such patents, copyrights, mask work rights, trade secrets and other legal
protections. His or her obligations under this paragraph will continue beyond the termination
of his or her employment with the Company, provided that the Company will compensate the
Employee at a reasonable rate after such termination for time or expenses actually spent by
the Employee at the Company’s request on such assistance.
The Employee appoints the Secretary of the Company as his or her attorney-in-fact to execute
documents on his or her behalf for this purpose.
	 
	 	 	This Section 8 shall survive the termination of this Agreement for any reason.
	 
	9.	 	NON-COMPETITION AND NON-SOLICITATION
	 
	 	 	In consideration of the compensation and benefits provided to the Employee by the Company, the Employee agrees that
during the Employment Term and for a period of one year following the termination or
expiration of this Agreement (for whatever reason):

	 	(a)	 	the Employee will not approach clients, customers or contacts
of the Company and its subsidiaries or
other persons or entities introduced to the Employee in his or her capacity as a
representative of the Company and its subsidiaries for the purposes of doing business with such persons or
entities and will not interfere with the business relationship between the Company and
its subsidiaries such persons and/or entities;
	 
	 	(b)	 	unless expressly consented to by the Company, the Employee will not assume
employment with or provide services as a director or otherwise for any competitor of the
Company and its subsidiaries, or engage, whether as principal, partner, licensor

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	 	 	 	or otherwise, in any business
which is in direct or indirect competition with the business of the Company and its
subsidiaries; and
	 
	 	(c)	 	unless expressly consented to by the Company, the Employee will not seek directly
or indirectly, by the offer of alternative employment or other inducement whatsoever, to
solicit the services of any employee of the Company and its subsidiaries employed as at
or after the date of such termination, or in the year preceding such termination.

	 	 	The provisions provided in Section 9 shall be separate and severable, enforceable
independently of each other, and independent of any other provision of this Agreement.
	 
	 	 	The provisions contained in Section 9 are considered reasonable by the Employee and the
Company but, in the event that any such provisions should be found to be void under applicable
laws but would be valid if some part thereof was deleted or the period or area of application
reduced, such provisions shall apply with such modification as may be necessary to make them
valid and effective.
	 
	 	 	This Section 9 shall survive the termination of this Agreement for any reason.
	 
	10.	 	REMEDIES
	 
	 	 	Without intending to limit the remedies available to the Company and its subsidiaries,
the Employee agrees that a breach of any of the covenants contained in Sections 7, 8 and 9
may result in material and irreparable injury to the Company and its subsidiaries for which
there is no adequate remedy at law and that, in the event of such a breach or threat
thereof, the Company and its subsidiaries shall be entitled to seek a temporary restraining
order or a preliminary or permanent injunction, or both, without bond or other security,
restraining the Employee from engaging in activities prohibited by the covenants contained
in Sections 7, 8 and 9 or such other relief as may be required specifically to enforce such
covenants.

	 
	11.	 	ENTIRE AGREEMENT
	 
	 	 	This Agreement constitutes the entire agreement and understanding between the Employee and the
Company regarding the terms of the Employee’s employment. The Employee acknowledges that the Employee has
not entered into this Agreement in reliance upon any representation,
warranty or undertaking which is not set forth in this Agreement. Any amendment to this
Agreement must be in writing and signed by the Employee and the Company.
	 
	12.	 	GOVERNING LAW
	 
	 	 	This Agreement shall be governed by and construed in accordance with the laws of the law of
[the State of New York], U.S.A.

[Signature Page to Follow]

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IN WITNESS WHEREOF, this Agreement has been executed.

Camelot Information Systems Inc.

	 	 	 	 
	 	 
	Signature:  	 	  
 	 
	Name:  	 	 	 
	Title:  	 	 	 
	 	 	 
	 

Employee

	 	 	 	 
	 	 
	Signature:  	 	  
 	 
	Name:  	 	 	 
	 	 	 
	 

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