Document:

Exhibit 4.2

 

DATED THE [·] DAY OF [DECEMBER 2013]

 

[2013]年[12]月[·]日

 

FEISHANG ANTHRACITE RESOURCES LIMITED

 

飞尚无烟煤资源有限公司

 

and

及

 

[·]

[·]

 

 

EXECUTIVE DIRECTOR 

SERVICE AGREEMENT

 

董事服务协议

 

 

CONTENTS

 

	
Clause
    	
 
    	
Heading
    	
 
    	
Page
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
1.
    	
 
    	
APPOINTMENT   委任
    	
 
    	
2
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
2.
    	
 
    	
FEES   AND EXPENSES 费用及开支
    	
 
    	
2
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
3.
    	
 
    	
DUTIES   AND RESPONSIBILITIES 职务及职责
    	
 
    	
3
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
4.
    	
 
    	
TERMINATION   终止
    	
 
    	
5
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
5.
    	
 
    	
CONFIDENTIALITY   保密义务
    	
 
    	
7
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
6.
    	
 
    	
GOVERNING   LAW 管辖法律
    	
 
    	
7
    

 

1

 

THIS AGREEMENT is made on the [·] day of [December 2013]

本协议于[2013]年[12]月[·]日由以下各方签订

 

BETWEEN

 

(1)                                       FEISHANG ANTHRACITE RESOURCES LIMITED, a company incorporated in the British Virgin Islands (“BVI”) with limited liability whose registered office is situated at Maples Corporate Services (BVI) Limited, Kingston Chambers, P.O. Box 173, Road Town, Tortola, BVI (the “Company”); and

 

飞尚无烟煤资源有限公司,一家成立于英属维尔京群岛的有限责任公司,其注册地址为Maples Corporate Services (BVI) Limited, Kingston Chambers, P.O. Box 173, Road Town, Tortola, BVI(”公司”);及

 

(2)                                       [·], whose residential address is [·] (the “Director”).

 

[·],住所为[·](  “董事”)。

 

WHEREAS the Company has agreed to appoint the Director as an executive director on the following terms and conditions.

 

公司在此同意基于以下条款委任董事为执行董事。

 

BY WHICH IT IS AGREED as follows:

 

双方同意如下:

 

1.                                      APPOINTMENT 委任

 

The employment shall be for an initial term of three years commencing from the date of this Agreement. The employment is renewable automatically for successive terms of one year subject to termination hereinafter provided.

 

任期自本协议日期起初步为期三年,可自动重续一年任期,惟可因下文规定而终止。

 

2.                                      FEES AND EXPENSES 费用及开支

 

2.1                               In performance of the Director’s duties, the Company shall pay the Director a fee of HK$1.00 per annum, which shall be payable on 31 December of each year (or if such day is not a working day, on the working day falling immediately thereafter) or in such other manner and at such other time as the Company and the Director may from time to time mutually agree.

 

履职期间,公司将向董事支付酬金每年1.00港元,于每年12月31日 (或倘该日非工作日,则紧随该日后的工作日),或按不时由公司和董事共同议定的有关其他方式于有关其他时间予以支付。

 

2

 

2.2                               During the appointment, the Company may, at its sole discretion, pay the Director a bonus of such amount and subject to such conditions as the board of directors (or the remuneration committee, as applicable) of the Company may determine in respect of each financial year.

 

在董事的任期内,公司可以全权自行决定向董事支付奖金,该等奖金的金额及发放情形受限于公司的董事会(或薪酬委员会,若适用)就每一会计年度作出的决定。

 

2.3                               The Director shall be eligible to participate in any share option scheme as may be adopted by the Company and shall be entitled to receive such amount of share options and subject to such conditions as the board of directors (or the remuneration committee, as applicable) of the Company may determine in accordance with the rules of such share option scheme.

 

董事享有参与公司或采纳的任何期权计划的资格,并有权接受由公司的董事会(或薪酬委员会,若适用)依照该等期权计划下的规则而决定的数量的期权及授予条款。

 

2.4                               The Company shall reimburse the Director for all reasonable expenses properly incurred by the Director in connection with the performance of his duties as an executive director of the Company, provided that the Director provides to the Company all appropriate receipts and vouchers. The Company shall also take out and, at all times during the period of the Director’s employment hereunder, maintain directors’ liability insurance with a reputable insurance company in respect of the performance by the Director of his duties as an executive director of the Company.

 

公司将报销董事履行作为公司执行董事职责所产生一切合理费用,惟董事须向公司提供全部适当收据及凭证。于董事任期内所有时间,公司亦将就董事作为公司执行董事履行职责为董事在声誉良好的保险公司办理并维持董事责任险。

 

3.                                      DUTIES AND RESPONSIBILITIES 职务及职责

 

3.1                               As required by the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the “Listing Rules”), the Director is responsible for the management and operations of the Company and the Director is expected to fulfill fiduciary duties and duties of skill, care and diligence to a standard at least commensurate with the standard established by the laws of the Hong Kong Special Administrative Region (“Hong Kong”). In particular, the Director must, in the performance of his duties as a director:

 

(a)                                 act honestly and in good faith in the interests of the Company as a whole;

 

(b)                                 act for proper purpose;

 

(c)                                  be answerable to the Company for the application or misapplication of its assets;

 

(d)                                 avoid actual or potential conflicts of interest and duty;

 

(e)                                  disclose fully and fairly his interests in contracts with the Company; and

 

3

 

(f)                                   apply such degree of skill, care and diligence as may reasonably be expected of a person of his knowledge and experience and holding his office within the Company.

 

据香港联合交易所有限公司证券上市规则(“上市规则”)规定,董事须负责管理与经营公司的业务,并须履行诚信责任及以应有技能、谨慎和勤勉行事的责任,而履行上述责任时,至少须符合香港特别行政区(“香港”)法例所确立的标准。具体而言,董事在履行其董事职务时,必须:

 

(a)                                 诚实及善意地以公司的整体利益为前提行事;

 

(b)                                 为适当目的行事;

 

(c)                                  就公司资产的运用或误用而向公司负责;

 

(d)                                 避免实际或潜在的利益和职务冲突;

 

(e)                                  全面及公正地披露其与公司订立的合约中的权益; 及

 

(f)           以应有的技能,谨慎和勤勉行事,程度相当于一名具备与董事相同知识及经验,并担任公司董事职务的人士所应被合理预期的水平。

 

3.2                               The directors of the Company shall act in accordance with the memorandum and articles of association of the Company and the laws of BVI. As a director of the Company, the Director is prohibited under the articles of association from voting at or being counted towards quorum of directors’ meeting in respect of any resolution in which the Director is materially interested subject to certain exceptions as set out in the articles of association.

 

公司董事应根据公司组织章程大纲及细则以及英属维尔京群岛法律行事。身为公司董事, 组织章程细则禁止董事在董事会议上, 就涉及董事重大利益的任何决议案表决或计为法定人数,除非该等情形属于组织章程细则中列举的豁免情形。

 

3.3                               By entering into this Agreement, the Director will be deemed to have represented to the Company and The Stock Exchange of Hong Kong Limited (the “Stock Exchange”) that, in acting as a director of the Company, the Director undertakes to perform the duties and be subject to the restrictions in paragraphs 3.1 and 3.2 above. In addition, the Director shall ensure that he is fully aware of all other obligations under the Listing Rules, and other relevant regulations and requirements of Hong Kong and the BVI, as an executive director.

 

一经签订本协议,即视作董事向公司及香港联合交易所有限公司(“联交所”)声明, 董事承诺出任公司董事时履行上述职责及受上文第3.1及3.2条限制约束。此外,董事须保证其知悉上市规则以及香港及英属维尔京群岛其他相关规例及规定下作为执行董事的全部其他责任。

 

3.4                               The Director shall participate in the audit committee, remuneration committee, nomination committee and/or such other committees as may from time to time be required by the board of directors of the Company or as required by the Listing Rules to be attended by the Director.

 

4

 

经公司董事会不时要求或依据上市规则, 董事须参与审核委员会,薪酬委员会,提名委员会及/或有关其他委员会。

 

4.                                      TERMINATION 终止

 

4.1                               The employment hereunder shall terminate automatically upon the following events and in such case the Director will have no claim for damages against the Company:

 

(a)                                 by reason of the Director not being re-elected as a director of the Company at the annual general meeting of the Company held next after the commencement of the Director’s employment; or

 

(b)                                 by reason of the Director not being re-elected as a director of the Company at any annual general meeting of the Company at which the Director is to retire by rotation; or

 

(c)                                  by virtue of a resolution passed by the members of the Company in general meeting to remove the Director as a director.

 

本协议所述的任期将于下列事件发生时自动终止, 在该情况下, 董事将不可对公司索取损害赔偿:

 

(a)                                 于董事任期开始后举行的公司股东周年大会上不获重选为公司董事; 或

 

(b)                                 于董事将轮席退任的任何本公司股东周年大会上不获重选为公司董事; 或

 

(c)                                  公司股东于股东大会上通过决议案,罢免董事职务。

 

4.2                               Notwithstanding any provision hereof, either the Company or the Director may give to the other party at least one month notice in writing to terminate the employment save that no notice need to be served by the Company on the Director to terminate the employment should the following happen to the Director:

 

(a)                                 be guilty of or commit any serious misconduct which in the reasonable opinion of the board of directors of the Company is in any way detrimental to the interests of the Company; or

 

(b)                                 be in serious or persistent breach of any of the terms of this Agreement; or

 

(c)                                  commit any act of bankruptcy or make any arrangements or composition with his creditors generally or persistently fail to pay his personal debts; or

 

(d)                                 become through mental disorder incapable of managing his own affairs; or

 

(e)                                  be guilty of persistent insobriety; or

 

(f)                                   be convicted of any criminal offence involving his integrity or honesty; or

 

(g)                                  be disqualified to act as a director of the Company under any applicable law, the Codes on Takeovers and Mergers and Share Repurchases, the Listing Rules or any rules prescribed by the Stock Exchange; or

 

5

 

(h)                                 be or become prohibited by law from being a director; or

 

(i)                                     act in any manner (whether in the course of his duties or otherwise) which is likely to bring him or the Company into disrepute or prejudice the interests of the Company; or

 

(j)                                    refuse to carry out any reasonable lawful instructions or directions given to him by the board of the Company in the course of his employment or fail diligently to attend to his duties hereunder; or

 

(k)                                 be guilty of continuing unsatisfactory conduct or poor performance of his duties, after having received a written warning from the Company relating to the same; or

 

(l)                                     be removed as a director of the Company by its shareholders in general meeting.

 

不管本协议任何条文所述若何, 公司或董事可向另一方发出至少一个月的书面通知, 终止董事的任职, 惟倘以下事项适用于董事时, 公司无须发出通知,亦可终止董事的任期:

 

(a)                                 按公司董事会合理认为,董事触犯或做出损害公司利益之任何严重失责行为;或

 

(b)                                 严重或持续违反本协议任何条款;或

 

(c)          进行任何破产行动或与董事的债权人签订债务重整协议或债务偿还安排或持续未能偿还董事的个人债项;或

 

(d)                                 因神智失常无法管理本身事;或

 

(e)                                  酗酒成习;或

 

(f)                                   任何涉及董事诚信的刑事控罪罪成;或

 

(g)            根据任何适用法律,《公司收购,合并及股份购回守则》,上市规则或联交所颁布的任何规则,不合资格出任公司董事;或

 

(h)                                 已为或成为法律禁止出任董事的人士;或

 

(i)                                     无论董事是否于履行职责的过程中或因其他原因, 行事方式很可能导致董事或公司声誉或公司利益受损;或

 

(j)                                    在任职期间, 董事拒绝履行公司董事会给予董事任何合理合法指示或指令或未能勤勉地履行本协议规定的职责;或

 

(k)                                 在接获公司书面警告,董事履行职责时行为继续不理想或表现仍然差劣;或

 

(l)                                     公司股东于股东大会上罢免董事的董事职务。

 

6

 

5.                                      CONFIDENTIALITY 保密义务

 

The Director agrees to maintain the confidentiality of the confidential information and trade secrets of the Company, including but not limited to, any confidential information and statistics, business plans, operations, technologies, know-how, systems and/or the proposed sale, purchase and use of services and products furnished in oral, visual, written and/or other tangible form and not to disclose such information to any third party without prior consent of the Company.

 

董事同意就公司的机密信息及商业秘密保密, 包括但不限于任何以口头,视像,书面及\或其他实体形式提供的机密信息与统计数据,业务计划,经营业务,技术,技术诀窍,系统及\或服务及产品的销售,购买及使用建议,且未经公司事先同意, 不会将有关资料向任何第三方披露。

 

6.                                      GOVERNING LAW 管辖法律

 

This Agreement is governed by and construed in all respects in accordance with the laws of Hong Kong subject to the non-exclusive jurisdiction of the courts of Hong Kong.

 

本协议在所有方面均受香港法律管辖及诠释,并受到香港法院的非专属管辖。

 

7

 

IN WITNESS WHEREOF this Agreement has been executed on the day and year first above written.

本协议按首端所述日期签订以兹证明。

 

	
SIGNED by [·]
    	
 
    	
)
    
	
由[·]代表
    	
 
    	
)
    
	
 
    	
 
    	
)
    
	
 
    	
 
    	
)
    
	
 
    	
 
    	
)
    
	
For and on behalf   of
    	
 
    	
)
    
	
FEISHANG   ANTHRACITE RESOURCES LIMITED
    	
 
    	
)
    
	
飞尚无烟煤资源有限公司
    	
 
    	
)
    
	
签署
    	
 
    	
)
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
SIGNED by [·]
    	
 
    	
)
    
	
由[·]签署
    	
 
    	
)
    
	
 
    	
 
    	
)
    
	
 
    	
 
    	
)
    

 

8

 

DATED THE [•] DAY OF [DECEMBER 2013]

 

[2013]年[12]月[•]日

 

FEISHANG ANTHRACITE RESOURCES LIMITED

 

飞尚无烟煤资源有限公司

 

and

及

 

[·]

[·]

 

 

INDEPENDENT NON-EXECUTIVE
 DIRECTOR SERVICE AGREEMENT

 

独立非执行董事服务协议

 

 

目录

 

	
 
    	
 
    	
页
    
	
 
    	
 
    	
 
    
	
1.
    	
APPOINTMENT委任
    	
1
    
	
 
    	
 
    	
 
    
	
2.
    	
FEES AND EXPENSES  费用及开支
    	
1
    
	
 
    	
 
    	
 
    
	
3.
    	
DUTIES AND RESPONSIBILITIES  职务及职责
    	
2
    
	
 
    	
 
    	
 
    
	
4.
    	
TERMINATION  终止
    	
3
    
	
 
    	
 
    	
 
    
	
5.
    	
CONFIDENTIALITY 保密义务
    	
5
    
	
 
    	
 
    	
 
    
	
6.
    	
INDEPENDENCE 独立性
    	
5
    
	
 
    	
 
    	
 
    
	
7.
    	
GOVERNING LAW 管辖法律
    	
6
    

 

i

 

THIS AGREEMENT is made on the [·] day of [December 2013]

本协议于[2013]年[12]月[·]日由以下各方签订

 

BETWEEN

 

(1)                                       FEISHANG ANTHRACITE RESOURCES LIMITED, a company incorporated in the British Virgin Islands (“BVI”) with limited liability whose registered office is situated at Maples Corporate Services (BVI) Limited, Kingston Chambers, P.O. Box 173, Road Town, Tortola, BVI (the “Company”); and

 

飞尚无烟煤资源有限公司,一家成立于英属维尔京群岛的有限责任公司,其注册地址为Maples Corporate Services (BVI) Limited, Kingston Chambers, P.O. Box 173, Road Town, Tortola, BVI(”公司”);及

 

(2)                                       [·], whose residential address is [·] (the “Director”).

 

[·],住所为[·](”董事”)。

 

WHEREAS the Company has agreed to appoint the Director as an independent non-executive director on the following terms and conditions.

 

公司在此同意基于以下条款委任董事为独立非执行董事。

 

BY WHICH IT IS AGREED as follows:

 

双方同意如下:

 

1.                                      APPOINTMENT委任

 

The employment shall be for a term of three years commencing from the date of this Agreement.

 

任期自本协议日期起为期三年。

 

2.                                      FEES AND EXPENSES  费用及开支

 

In performance of the Director’s duties, the Company shall pay the Director a fee of RMB[·] per annum, which shall be deemed to accrue on a day to day basis and payable by 12 equal monthly installments of RMB[·] each in arrears. The Director’s remuneration stated herein shall be payable on the last day of each calendar month (or if such day is not a working day, on the working day falling immediately thereafter) (each a “Payment Day”) or in such other manner and at such other time as the Company and the Director may from time to time mutually agree. If the Director’s employment is terminated for any reason and such termination occurs on any day other than a Payment Day, the Director’s remuneration payable shall be pro-rated from the date of the last payment made to the Director to the actual date of termination.

 

履职期间,公司将向董事支付酬金每年[·]人民币,乃按日累计分12个月每月支付[·]人民币。本协议所载董事的酬金将于每一历月最后一日(或倘该日并非工作

 

1

 

日,则紧随该日后的工作日)(“支付日”),或按不时共同议定的有关其他方式于有关其他时间予以支付。倘董事的任职因任何原因予以终止,且有关终止乃于支付日以外的任何一日发生,则董事的酬金将自最后向董事作出付款之日起计至实际终止日期按比例予以支付。

 

The Company shall reimburse the Director for all reasonable expenses properly incurred by the Director in connection with the performance of his duties as an independent non-executive director of the Company, provided that the Director provides to the Company all appropriate receipts and vouchers. The Company shall also take out and, at all times during the period of the Director’s employment hereunder, maintain directors’ liability insurance with a reputable insurance company in respect of the performance by the Director of his duties as an independent non-executive director of the Company.

 

公司将报销董事履行作为公司独立非执行董事职责所产生一切合理费用,惟董事须向公司提供全部适当收据及凭证。于董事任期内所有时间,公司亦将就董事作为公司独立非执行董事履行职责为董事在声誉良好的保险公司办理并维持董事责任险。

 

3.                                      DUTIES AND RESPONSIBILITIES  职务及职责

 

3.1                               As required by the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the “Listing Rules”), the Director is responsible for the management and operations of the Company and the Director is expected to fulfill fiduciary duties and duties of skill, care and diligence to a standard at least commensurate with the standard established by the laws of the Hong Kong Special Administrative Region (“Hong Kong”). In particular, the Director must, in the performance of his duties as a director:

 

(a)                                 act honestly and in good faith in the interests of the Company as a whole;

 

(b)                                 act for proper purpose;

 

(c)                                  be answerable to the Company for the application or misapplication of its assets;

 

(d)                                 avoid actual or potential conflicts of interest and duty;

 

(e)                                  disclose fully and fairly his interests in contracts with the Company; and

 

(f)                                   apply such degree of skill, care and diligence as may reasonably be expected of a person of his knowledge and experience and holding his office within the Company.

 

据香港联合交易所有限公司证券上市规则(“上市规则”)规定,董事须负责管理与经营公司的业务,并须履行诚信责任及以应有技能、谨慎和勤勉行事的责任,而履行上述责任时,至少须符合香港特别行政区(“香港”)法例所确立的标准。具体而言,董事在履行其董事职务时,必须:

 

(a)                                 诚实及善意地以公司的整体利益为前提行事;

 

(b)                                 为适当目的行事;

 

2

 

(c)                                  就公司资产的运用或误用而向公司负责;

 

(d)                                 避免实际或潜在的利益和职务冲突;

 

(e)                                  全面及公正地披露其与公司订立的合约中的权益; 及

 

(f)          以应有的技能,谨慎和勤勉行事,程度相当于一名具备与董事相同知识及经验,并担任公司董事职务的人士所应被合理预期的水平。

 

3.2                               The directors of the Company shall act in accordance with the memorandum and articles of association of the Company and the laws of BVI. As a director of the Company, the Director is prohibited under the articles of association from voting at or being counted towards quorum of directors’ meeting in respect of any resolution in which the Director is materially interested subject to certain exceptions as set out in the articles of association.

 

公司董事应根据公司组织章程大纲及细则以及英属维尔京群岛法律行事。身为公司董事,组织章程细则禁止董事在董事会议上,就涉及董事重大利益的任何决议案表决或计为法定人数,除非该等情形属于组织章程细则中列举的豁免情形。

 

3.3                               By entering into this Agreement, the Director will be deemed to have represented to the Company and The Stock Exchange of Hong Kong Limited (the “Stock Exchange”) that, in acting as a director of the Company, the Director undertakes to perform the duties and be subject to the restrictions in paragraphs 3.1 and 3.2 above. In addition, the Director shall ensure that he is fully aware of all other obligations under the Listing Rules, and other relevant regulations and requirements of Hong Kong and the BVI, as an independent nonexecutive director.

 

一经签订本协议,即视作董事向公司及香港联合交易所有限公司(“联交所”)声明,董事承诺出任公司董事时履行上述职责及受上文第3.1及3.2条限制约束。此外,董事须保证其知悉上市规则以及香港及英属维尔京群岛其他相关规例及规定下作为独立非执行董事的全部其他责任。

 

3.4                               The Director shall participate in the audit committee, remuneration committee, nomination committee and/or such other committees as may from time to time be required by the board of directors of the Company or as required by the Listing Rules to be attended by the Director.

 

经公司董事会不时要求或依据上市规则,董事须参与审核委员会,薪酬委员会,提名委员会及/或有关其他委员会。

 

4.                                      TERMINATION  终止

 

4.1                               The employment hereunder shall terminate automatically upon the following events and in such case the Director will have no claim for damages against the Company:

 

(a)                                 by reason of the Director not being re-elected as a director of the Company at the annual general meeting of the Company held next after the commencement of the Director’s employment; or

 

3

 

(b)                                 by reason of the Director not being re-elected as a director of the Company at any annual general meeting of the Company at which the Director is to retire by rotation; or

 

(c)                                  by virtue of a resolution passed by the members of the Company in general meeting to remove the Director as a director.

 

本协议所述的任期将于下列事件发生时自动终止,在该情况下,董事将不可对公司索取损害赔偿:

 

(a)                                 于董事任期开始后举行的公司股东周年大会上不获重选为公司董事; 或

 

(b)                                 于董事将轮席退任的任何本公司股东周年大会上不获重选为公司董事; 或

 

(c)                                  公司股东于股东大会上通过决议案,罢免董事职务。

 

4.2                               Notwithstanding any provision hereof, either the Company or the Director may give to the other party at least one month notice in writing to terminate the employment save that no notice need to be served by the Company on the Director to terminate the employment should the following happen to the Director:

 

(a)                                 be guilty of or commit any serious misconduct which in the reasonable opinion of the board of directors of the Company is in any way detrimental to the interests of the Company; or

 

(b)                                 be in serious or persistent breach of any of the terms of this Agreement; or

 

(c)                                  commit any act of bankruptcy or make any arrangements or composition with his creditors generally or persistently fail to pay his personal debts; or

 

(d)                                 become through mental disorder incapable of managing his own affairs; or

 

(e)                                  be guilty of persistent insobriety; or

 

(f)                                   be convicted of any criminal offence involving his integrity or honesty; or

 

(g)                                  be disqualified to act as a director of the Company under any applicable law, the Codes on Takeovers and Mergers and Share Repurchases, the Listing Rules or any rules prescribed by the Stock Exchange; or

 

(h)                                 be or become prohibited by law from being a director; or

 

(i)                                     act in any manner (whether in the course of his duties or otherwise) which is likely to bring him or the Company into disrepute or prejudice the interests of the Company; or

 

(j)                                    refuse to carry out any reasonable lawful instructions or directions given to him by the board of the Company in the course of his employment or fail diligently to attend to his duties hereunder; or

 

(k)                                 be guilty of continuing unsatisfactory conduct or poor performance of his duties, after having received a written warning from the Company relating to the same; or

 

(l)                                     be removed as a director of the Company by its shareholders in general meeting.

 

4

 

不管本协议任何条文所述若何,公司或董事可向另一方发出至少一个月的书面通知,终止董事的任职,惟倘以下事项适用于董事时,公司无须发出通知,亦可终止董事的任期:

 

(a)                                 公司董事会合理认为,董事触犯或做出损害公司利益之任何严重失责行为;或

 

(b)                                 严重或持续违反本协议任何条款;或

 

(c)         进行任何破产行动或与董事的债权人签订债务重整协议或债务偿还安排或持续未能偿还董事的个人债项;或

 

(d)                                 因神智失常无法管理本身事务;或

 

(e)                                  酗酒成习;或

 

(f)                                   任何涉及董事诚信的刑事控罪罪成;或

 

(g)         根据任何适用法律,《公司收购,合并及股份购回守则》,上市规则或联交所颁布的任何规则,不合资格出任公司董事;或

 

(h)                                 已为或成为法律禁止出任董事的人士;或

 

(i)         无论董事是否于履行董事职责过程中或因其他原因,其行事方式很可能导致董事或公司声誉受损或公司利益受损;或

 

(j)                                    在任职期间, 董事拒绝履行公司董事会给予董事任何合理合法指示或指令或未能勤勉地履行本协议规定的职责;或

 

(k)                                 在接获公司书面警告,董事履行职责时行为继续不理想或表现仍然差劣;  或

 

(l)                                     公司股东于股东大会上罢免董事的董事职务。

 

5.                                      CONFIDENTIALITY 保密义务

 

The Director agrees to maintain the confidentiality of the confidential information and trade secrets of the Company, including but not limited to, any confidential information and statistics, business plans, operations, technologies, know-how, systems and/or the proposed sale, purchase and use of services and products furnished in oral, visual, written and/or other tangible form and not to disclose such information to any third party without prior consent of the Company.

 

董事同意就公司的机密信息及商业秘密保密, 包括但不限于任何以口头,视像,书面及\或其他实体形式提供的机密信息与统计数据、业务计划、经营业务、技术、技术诀窍、系统及\或服务及产品的销售,购买及使用建议,且未经公司事先同意, 不会将有关资料向任何第三方披露。

 

6.                                      INDEPENDENCE 独立性

 

The Director represents and warrants that he complies with the requirements of Rule 3.13 of the Listing Rules relating to his independence and shall notify the Company in

 

5

 

writing of any changes which may otherwise cause the Director not to be so independent.

 

董事声明并保证会遵守上市规则第3.13条有关董事独立性的要求,倘任何变故导致董事不能维持此种独立性,其将以书面形式告知公司。

 

7.                                      GOVERNING LAW  管辖法律

 

This Agreement is governed by and construed in all respects in accordance with the laws of Hong Kong subject to the non-exclusive jurisdiction of the courts of Hong Kong.

 

本协议在所有方面均受香港法律管辖及诠释,并受到香港法院的非专属管辖。

 

6

 

IN WITNESS WHEREOF this Agreement has been executed on the day and year first above written.

 

	
本协议按首端所述日期签订以兹证明。
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
SIGNED by [·]
    	
)
    
	
由[·]代表
    	
)
    
	
 
    	
)
    
	
 
    	
)
    
	
For and on behalf of
    	
)
    
	
FEISHANG ANTHRACITE RESOURCES LIMITED
    	
)
    
	
飞尚无烟煤资源有限公司
    	
)
    
	
签署
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
SIGNED by [·]
    	
)
    
	
由[·]签署
    	
)
    
	
 
    	
)
    
	
 
    	
)
    

 

7Exhibit 4.4

 

2013

 

FEISHANG ANTHRACITE RESOURCES LIMITED

(Incorporated in the British Virgin Islands with limited liability)

	
 
    	
 
    	
 
    

 

SHARE OPTION SCHEME

	
 
    	
 
    	
 
    

 

1

 

	
1.
    	
 
    	
DEFINITIONS
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
(A)
    	
 
    	
In this Scheme, except   where the context otherwise requires, the following words and expressions   have the following meanings:
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
“Acceptance Date”
    	
 
    	
means the date upon which an offer for an   Option must be accepted by the relevant Eligible Participant, being a date   not later than thirty (30) days after the Option is offered to an   Eligible Participant and which is not later than [date], being   the tenth (10th) anniversary of the Adoption Date;
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
“Adoption Date”
    	
 
    	
means [date], being the date on which the Scheme is conditionally adopted and   approved by a written resolution of the sole shareholder of the Company;
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
“Auditors”
    	
 
    	
means the auditors for the time being of the   Company (acting as experts and not as arbitrators);
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
“Board”
    	
 
    	
means the board of directors of the Company   from time to time or a duly authorized committee thereof;
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
“Business Day”
    	
 
    	
any day on which the Stock Exchange is open   for the business of dealing in securities;
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
“Commencement Date”
    	
 
    	
means, in respect of an Option, the date upon   which such Option is deemed to be granted and accepted in accordance with the   terms of this Scheme;
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
“Company”
    	
 
    	
means Feishang Anthracite Resources Limited, an exempted company incorporated in the British Virgin Islands with   limited liability;
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
“Connected Persons”
    	
 
    	
has the meaning ascribed to it in the Listing   Rules;
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
“Disability” or “Disabled”
    	
 
    	
means that a Grantee is permanently unable to   carry out the responsibilities and functions of all the positions held by   such Grantee by reason of any medically determinable physical or mental   impairment. A Grantee will not be considered to have a Disability or is   Disabled unless he or she furnishes written proof of such impairment from a   person with the relevant medical
    

 

2

 

	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
qualification(s) which is sufficient to   satisfy the Board in its absolute discretion;
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
“Eligible Participant”
    	
 
    	
means any (a) employee, director or   consultant of the Company or any Subsidiary; or (b) any other person who   has contributed to the success of the listing of the Company on the Stock   Exchange, in each case, as determined by the Board. The eligibility of an   Eligible Participant will be determined by the Board with reference to his or   her past and expected commitment and contribution to the Company and/or the   Subsidiaries;
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
“Expiry Date”
    	
 
    	
means, in respect of an Option, the date of   the expiry of the Option as may be determined by the Board, which shall not   be a date that is later than the tenth (10th) anniversary of the date when such Option was offered to a Grantee;
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
“Grantee”
    	
 
    	
means any Eligible Participant who accepts   the offer of the grant of an Option in accordance with the terms of the   Scheme or (where the context so permits) a person or persons who, in   accordance with the laws of succession applicable in respect of the death of   a Grantee is or are entitled to exercise the Option granted to such Grantee   (to the extent not already exercised) in consequence of the death of such   Grantee;
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
“Hong Kong”
    	
 
    	
means The Hong Kong Special Administrative   Region of the People’s Republic of China;
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
“HK$”
    	
 
    	
means Hong Kong dollars, the lawful currency   of Hong Kong;
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
“Listing Rules”
    	
 
    	
means the   Rules Governing the Listing of Securities on The Stock Exchange of Hong   Kong Limited in force from time to time;
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
“Option”
    	
 
    	
means an option to subscribe for Shares   granted pursuant to the Scheme;
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
“Option Period”
    	
 
    	
means in respect of an Option, the period   commencing on the Commencement Date and expiring on the Expiry Date for such   Option;
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
“Scheme”
    	
 
    	
means this share option scheme, the   rules of which are set out in this document, in its present or any   amended form;
    

 

3

 

	
 
    	
 
    	
 
    	
 
    	
“Shares”
    	
 
    	
means shares of HK$[0.01] each in the capital   of the Company (or such other nominal amount as shall result from a   sub-division, reduction, consolidation, reclassification or reconstruction of   the share capital of the Company from time to time);
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
“Stock Exchange”
    	
 
    	
means The Stock Exchange of Hong Kong   Limited;
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
“Subscription Price”
    	
 
    	
means the price per Share at which a Grantee   may subscribe for Shares upon the exercise of an Option;
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
“Subsidiary”
    	
 
    	
has the meaning ascribed to it in the Listing   Rules; and
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
“Vesting Schedule”
    	
 
    	
means in relation to an Option, a schedule   for the vesting of Shares comprised in the Option during the Option Period to   be determined by the Board on the date of grant of that Option.
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
(B)
    	
 
    	
The purpose of this Scheme   is to recognise the contribution that certain individuals have made to the   Company, to attract and retain the best available personnel and to promote   the success of the Company’s business and that of its Subsidiaries.
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
(C)
    	
 
    	
Paragraph headings are   inserted for convenience of reference only and shall be ignored in the   interpretation of the Scheme. Unless the context otherwise requires,   references to paragraphs are to paragraphs of the Scheme. The singular   includes the plural and vice versa and references to one gender shall include   all genders.
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
(D)
    	
 
    	
Reference to the Listing   Rules shall be construed as references to the Listing Rules as   amended or modified or supplemented by other provisions, guidance notes   and/or practice notes issued by the Stock Exchange from time to time.
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
2.
    	
 
    	
CONDITIONS
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
(A)
    	
 
    	
An ordinary resolution was   passed on the Adoption Date pursuant to which the Scheme was conditionally   adopted and the directors of the Company was authorized to grant the Options   hereunder and to allot, and deal with the Shares pursuant to the exercise of   any Option granted under this Scheme.
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
(B)
    	
 
    	
The Scheme shall be conditional upon:
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
(i)                                     the passing of the resolution of the sole   shareholder to approve and adopt this Scheme and to authorise the Board to   grant Options pursuant to this Scheme and to allot and issue Shares pursuant   to the exercise of any Options;
    

 

4

 

	
 
    	
 
    	
 
    	
 
    	
(ii)                                  the Listing Committee of the Stock Exchange granting the listing of   and permission to deal in the Shares, including any Shares which may fall to   be issued by the Company pursuant to the exercise of Options in accordance   with the terms of the Scheme; and
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
(iii)                               the commencement of the dealing in the Shares on the Stock Exchange.
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
3.
    	
 
    	
DURATION AND   ADMINISTRATION
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
(A)
    	
 
    	
Subject to paragraph 14,   the Scheme shall be valid and effective for a period of   ten (10) years after the Adoption Date, after which period no further   Options will be granted under the Scheme but the provisions of this Scheme shall in all other respects remain   in full force and effect. Options which are granted during the life of the Scheme shall   continue to be exercisable in accordance with their terms of issue.
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
(B)
    	
 
    	
The Scheme shall be   subject to the administration of the Board whose decision as to all matters   arising in relation to the Scheme or its interpretation or effect (save as   otherwise provided herein) shall be final and binding on all parties. The   Board shall, subject to paragraphs 10 and 13, have the right to:
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
(i)                                     interpret and construe the provisions of the Scheme;
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
(ii)                                  determine the persons who will be awarded Options   under the Scheme, and the number and Subscription Price of Options awarded   thereto;
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
(iii)                               make such appropriate and equitable adjustments to   the terms of Options granted under the Scheme as it deems necessary; and
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
(iv)                              make such other decisions or determinations as it   shall deem appropriate in the administration of the Scheme.
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
(C)
    	
 
    	
No member of the Board   shall be personally liable by reason of any contract or other instrument executed by such member or on   his behalf in his capacity as a member of the Board nor for any mistake of judgement made in good   faith, and the Company shall indemnify and hold harmless each   employee, officer or director of the Company to whom any duty or power relating to the   administration or interpretation of this Scheme may be allocated or delegated,   against any cost or expense (including legal fees) or liability (including any sum paid in   settlement of a claim with the approval of the Board) arising out of any act or   omission to act in connection with this Scheme unless arising out of such person’s own   fraud or bad faith.
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
4.
    	
 
    	
OFFER AND GRANT OF OPTIONS
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
(A)
    	
 
    	
The Board shall, in accordance   with the provisions of the Scheme, be entitled at any time following the   Adoption Date and before the tenth (10th) anniversary of the Adoption Date, to offer to   grant an Option to any Eligible Participant which the Board may in its   absolute discretion select and subject to such conditions as they may think   fit,
    

 

5

 

	
 
    	
 
    	
 
    	
 
    	
PROVIDED THAT the total number of Shares issued and to be issued   upon the exercise of the Options granted under the Scheme to each Eligible   Participant (including exercised, cancelled and outstanding Options) in any   twelve-month period up to the date of the latest grant shall not exceed one   per cent. (1%) of the issued share capital of the Company in issue at the   time such Options are granted, unless such grant is separately approved by   shareholders of the Company in general meeting with such Eligible Participant   and his associates abstaining from voting.
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
(B)
    	
 
    	
The Options shall entitle   the Grantee to subscribe for Shares on the terms set out in this Scheme save   that the Grantee may not subscribe for Shares if, at the time the Grantee   wishes to exercise an Option, the exercise of the Option, the allotment or   issuance of the Shares to the Grantee pursuant to the Scheme, the registration   of the Grantee as the holder of such Shares, the exercise and enjoyment of   the rights attaching to such Shares or the performance of the obligations of   the Company or the Grantee under this Scheme is prohibited by any applicable   law, rule or regulation (including the Listing Rules).
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
(C)
    	
 
    	
An offer of the grant of   an Option shall be made to an Eligible Participant by letter in substantially   the form set out in Schedule A, subject to such modification as the   Board may from time to time determine, requiring the Eligible Participant to   undertake to hold the Option on the terms on which it is to be granted and to   be bound by the provisions of the Scheme and shall remain open for acceptance   by the Eligible Participant concerned for a period of not more than thirty   (30) days from the date upon such offer of the grant was made. An offer of   the grant of an Option cannot be   accepted by a person who ceases to be an Eligible Participant prior to   acceptance.
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
(D)
    	
 
    	
An Option shall be deemed   to have been granted and accepted by an Eligible Participant and to have   taken effect when the acceptance form in substantially the form set forth in Schedule   B, subject to such modification as the Board may from time to time   determine, is completed, signed and returned by the Grantee, together with a   remittance in favour of the Company of HK$1.00 by way of consideration for   the grant thereof is received by the Company at its principal office in Hong   Kong or such other address as is specified in the offer document on or before   the relevant Acceptance Date. Such remittance shall in no circumstances be   refundable.
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
(E)
    	
 
    	
Any offer of the grant of   an Option may be accepted in respect of less than the number of Shares in   respect of which it is offered. To the extent that the offer of the grant of   an Option is not accepted by the Acceptance Date, it will be deemed to have   been irrevocably declined.
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
(F)
    	
 
    	
No offer of a grant of   Options shall be made and no Option shall be granted to any Eligible Participant   by the Company in circumstances or at a time when either (i) such grant   is prohibited or (ii) the Eligible Participant would or might be   prohibited from dealing in Shares, by the Listing Rules or by any   applicable rule, regulation or law.
    

 

6

 

	
 
    	
 
    	
(G)
    	
 
    	
No Option shall be granted   to any Eligible Participant after: (a) a price sensitive development   concerning the Company and/or its Subsidiaries has occurred or has been the   subject of a decision; or (b) any inside information has come to the   knowledge of the Company, until such price sensitive or inside information   has been disclosed in accordance with all applicable laws, rules and   regulations. In particular, no Option may be granted to any Eligible Participant   during the period commencing one (1) month immediately preceding the   earlier of:
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
(i)                                     the date of the meeting of the Board (as such date   is first notified to the Stock Exchange in accordance with the Listing Rules)   for the approval of the Company’s results for any year, half-year, quarterly   or any other interim period (whether or not required by the Listing Rules);   and
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
(ii)                                  the deadline for the Company to publish an   announcement of its results for any year or half-year under the Listing   Rules, or quarterly or any other interim period (whether or not required   under the Listing Rules),
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
and ending on the date of the result announcements. Where a grant of   an Options is to a Director, no Options may be granted on any day on which   the financial results of the Company are published and during the period of:
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
(iii)                               60 days immediately preceding the publication date   of the annual results or, if shorter, the period from the end of the relevant   financial year up to the publication date of the results; and
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
(iv)                              30 days immediately preceding the publication date   of the quarterly results (if any) and half-year results or, if shorter, the   period from the end of the relevant quarterly or half-year period up to the   publication date of the results.
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
(H)
    	
 
    	
An Option shall be   personal to the Grantee and, subject to the rights of exercise granted to any   personal representative(s) as provided in the Scheme, shall not be   assignable and no Grantee shall in any way sell, transfer, charge, mortgage,   encumber or create any interest (legal or beneficial) in favour of any third   party over or in relation to any Option or attempt so to do, except with the   prior written consent of the Board from time to time. During the lifetime of   the Grantee, an Option may be exercised only by the Grantee.
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
5.
    	
 
    	
SUBSCRIPTION PRICE
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
The Subscription Price in relation to each Option offered to an   Eligible Participant shall be determined by the Board in its discretion, provided,   however, that such price shall be at least equal to the highest of:
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
(i)                                     the nominal value of a Share;
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
(ii)                                  the closing price of the Shares as stated in the   Stock Exchange’s daily quotations sheet on the date of grant, which must be a   Business Day; and
    

 

7

 

	
 
    	
 
    	
(iii)
    	
 
    	
the average closing price   of the Shares as stated in the Stock Exchange’s daily quotations sheets for   the five (5) Business Days immediately preceding the date of grant.
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
6.
    	
 
    	
EXERCISE OF OPTIONS
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
(A)
    	
 
    	
Subject to paragraph   (B) below, an Option shall be exercised at any time in whole or in part   during the Option Period (if in part, it shall be exercised in amounts or   integral multiples of such number of Shares as shall represent the board lot   as determined from time to time) by the Grantee (or by his or her legal   personal representatives) giving notice in writing to the Company in   substantially the form set out in Schedule C stating that the   Option is thereby exercised and the number of Shares in respect of which it   is exercised. Each such notice must be accompanied by a remittance for the   full amount of the Subscription Price for the Shares in respect of which the   notice is given. Within twenty-one (21) days after receipt of the notice and   the remittance and, where appropriate, receipt of the Auditors’ certificate   pursuant to paragraph 10, the Company shall allot and issue the relevant   Shares to the Grantee (or to his or her legal personal representatives)   credited as fully paid with effect from (but excluding) the relevant exercise   date and issue to the Grantee (or to his or her legal personal   representatives) share certificates in respect of the Shares so allotted.
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
(B)
    	
 
    	
Subject to   paragraph 7 and as otherwise hereinafter provided, an Option may be   exercised only by a Grantee (or his or her legal personal representative(s))   at any time or times during the Option Period and in accordance with the   Vesting Schedule applicable to that Option, PROVIDED THAT:
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
(i)                                     in the event of the Grantee ceasing to be an   Eligible Participant for any reason other than his or her death or Disability   or the termination of his or her employment on one or more of the grounds   specified in paragraph 7(E), the Grantee may exercise any Option (to the   extent such Option is not already exercised and the exercise of such Option   is during the relevant Option Period) that has vested at the date of his or   her ceasing to be an Eligible Participant (which date shall be the last   actual working day with the Company or the relevant Subsidiary whether salary   is paid in lieu of notice or not) (“Cessation Date”)   within a period of one (1) month following the Cessation Date or such   longer period as the Board may determine, failing which such Option will   lapse. The Board shall, acting fairly and reasonably, determine whether the   Grantee shall be entitled to exercise any Option that has not vested at the   Cessation Date and the period during which such Option may be exercised   (provided that such period shall not exceed the Option Period), and shall   notify the Grantee of the same. To the extent that such Option may not be   exercised following the Cessation Date, it shall automatically lapse with   effect from the Cessation Date;
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
(ii)                                  in the event that the Grantee ceases to be an   Eligible Participant by reason of death and none of the events which would   have been a ground for termination of his or her employment under   paragraph 7(E)
    

 

8

 

	
 
    	
 
    	
 
    	
 
    	
exists, all   unvested Options shall automatically vest and become immediately exercisable   and the Grantee’s legal personal representative(s) shall be entitled   within a period of one (1) year from the date of death or such longer   period as the Board may determine (provided that the exercise of such Option   is during the relevant Option Period) to exercise any Option in full (to the   extent not already exercised);
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
(iii)                               in the event that the Grantee ceases to be an   Eligible Participant by reason of Disability and none of the events which   would have been a ground for termination of his or her employment under   paragraph 7(E) exists, for purposes of Option vesting only, the   Grantee shall be treated as if his or her employment with the Company or the   relevant Subsidiary continued for the lesser of (a) three (3) years   after the date of Disability, or (b) the remaining term of the Option   (the “Extended Disability Term”), and   during such time the Option shall continue to vest and remain exercisable   during the Extended Disability Term.    Notwithstanding the foregoing, in the event of the Grantee’s death   during the Extended Disability Term, the provisions of this paragraph   6(B)(iii) shall cease to apply and the provisions of paragraph 6(B)(ii) shall   apply;
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
(iv)                              in the event of a general offer by way of takeover   or otherwise (other than by way of scheme of arrangement pursuant to (v) below)   is made to all the shareholders (or all such shareholders other than the   offeror and/or any person controlled by the offeror and/or any person acting   in association or concert with the offeror) by any person and such offer   becomes or is declared unconditional prior to the Expiry Date of the relevant   Option, notwithstanding any other terms on which the Option was granted, all   Options held by the Grantee shall vest (to the extent not already vested) and   the Grantee shall be entitled to exercise the Option (to the extent not   already exercised) to its full extent by the Grantee giving notice to the   Company at any time after the general offer becomes or is declared   unconditional and up to the close of such offer (or, as the case may be,   revised offer). Subject to the foregoing, any unexercised Option will lapse   automatically on the date on which such offer (or, as the case may be,   revised offer) closes;
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
(v)                                 in the event a general offer for Shares by way of   scheme of arrangement is made by any person to all the shareholders and has   been approved by the necessary number of shareholders at the requisite   meetings prior to the Expiry Date of the relevant Option, notwithstanding any   other terms on which the Option was granted, all Options held by the Grantee   shall vest (to the extent not already vested) and the Grantee shall be   entitled to exercise the Option (to the extent not already exercised) to its   full extent by giving notice to the Company at any time after the meetings   whereby the scheme is approved and up to the record date for determining   entitlements under such scheme of arrangement. Subject to the foregoing and   to the scheme of arrangement becoming effective, any unexercised Option
    

 

9

 

	
 
    	
 
    	
 
    	
 
    	
will lapse   automatically on the record date for determining entitlements under such   scheme of arrangement;
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
(vi)                              in the event of a change in the composition of the   Board over a period of 36 months or less such that a majority of the members   (rounded up to the next whole number) ceases to be comprise of individuals   who are directors of the Company at the time of its listing (the “Relevant Members”), by reason of either one or more   contested elections for the Board membership or a removal of the Relevant   Members by shareholder(s) who are not Mr. Li Feilie or Feishang   Group Limited, notwithstanding any other terms on which the Option was   granted, all Options held by the Grantee shall vest (to the extent not   already vested) and the Grantee shall be entitled to exercise the Option (to   the extent not already exercised) to its full extent by the Grantee giving   notice to the Company no later than three (3) Business Days prior to the   date of the proposed meeting whereby the contested election for the Board   membership or the removal of the Relevant Members from the Board is to be   approved. The Company shall as soon as possible and in any event no later   than two (2) Business Days immediately prior to the date of the proposed   meeting, allot and issue such number of Shares to the Grantee which falls to   be issued on such exercise of the Option, credited as fully paid, and shall   issue to the Grantee (or his custodian agent) share certificates in respect of   the Shares so allotted;
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
(vii)                           in the event of the issuance of new securities in   the Company which results in a change in control of the Company,   notwithstanding any other terms on which the Option was granted, all Options   held by the Grantee shall vest (to the extent not already vested) and the   Grantee shall be entitled to exercise the Option (to the extent not already   exercised) to its full extent by the Grantee giving notice to the Company no   later than three (3) Business Days prior to the date of the proposed   meeting whereby the issuance and/or the waiver of the obligation to make a   mandatory general offer is to be approved. The Company shall as soon as   possible and in any event no later than two (2) Business Days   immediately prior to the date of the proposed meeting, allot and issue such   number of Shares to the Grantee which falls to be issued on such exercise of   the Option, credited as fully paid, and shall issue to the Grantee (or his   custodian agent) share certificates in respect of the Shares so allotted;
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
(viii)                        in the event of a delisting of the Shares from the   Stock Exchange, notwithstanding any other terms on which the Option was   granted, all Options held by the Grantee shall vest (to the extent not   already vested) and the Grantee shall be entitled to exercise the Option (to   the extent not already exercised) to its full extent by the Grantee giving   notice to the Company no later than three (3) Business Days prior to the   date of the proposed meeting whereby the delisting is to be approved. The   Company shall as soon as possible and in any event no later than two (2) Business   Days immediately prior to the date of the proposed meeting, allot and issue   such number of Shares to the Grantee which
    

 

10

 

	
 
    	
 
    	
 
    	
 
    	
falls to be issued   on such exercise of the Option, credited as fully paid, and shall issue to   the Grantee (or his custodian agent) share certificates in respect of the   Shares so allotted;
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
(ix)                              in the event of the sale, transfer or other   disposition of all or substantially all of the assets of the Company   (including the capital stock of the Subsidiaries), the effect of which is to   achieve a change of control of the Company, notwithstanding any other terms   on which the Option was granted, all Options held by the Grantee shall vest   (to the extent not already vested) and the Grantee shall be entitled to   exercise the Option (to the extent not already exercised) to its full extent   by the Grantee giving notice to the Company no later than three (3) Business   Days prior to the date of the proposed meeting whereby the sale, transfer or   disposition is to be approved. The Company shall as soon as possible and in   any event no later than two (2) Business Days immediately prior to the   date of the proposed meeting, allot and issue such number of Shares to the   Grantee which falls to be issued on such exercise of the Option, credited as   fully paid, and shall issue to the Grantee (or his custodian agent) share   certificates in respect of the Shares so allotted;
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
(x)                                 in the event a notice is given by the Company to its   shareholders to convene a shareholders’ meeting for the purpose of   considering and, if thought fit, approving a resolution to voluntarily   wind-up the Company prior to the Expiry Date of the relevant Option, the   Company shall give notice thereof to all the Grantees on the same day as it   despatches to the shareholders the notice convening the meeting and,   notwithstanding any other terms on which the Option was granted, all Options held   by each Grantee shall vest (to the extent not already vested) and each   Grantee shall be entitled to exercise the Option (to the extent not already   exercised) to its full extent by the Grantee giving notice to the Company,   such notice to be given not later than three (3) Business Days prior to   the date of the proposed meeting. The Company shall as soon as possible and   in any event no later than two (2) Business Days immediately prior to   the date of the proposed meeting, allot and issue such number of Shares to   the Grantee which falls to be issued on such exercise of the Option, credited   as fully paid, and shall issue to the Grantee (or his custodian agent) share   certificates in respect of the Shares so allotted. With effect from the date   two Business Days prior to the date of such meeting, the rights of all   Grantees to exercise their respective Options shall forthwith be suspended.   If, for any reason, the resolution for the voluntary winding-up of the   Company is not approved by the shareholders, the rights of the Grantees to   exercise their respective Options shall be restored in full, to the extent   that they had not been exercised at the date such rights were suspended, as   if such resolution for the voluntary winding-up of the Company had not been   proposed by the Company and neither the Company nor the directors shall be   liable for any loss or damage suffered or sustained by any Grantee as a   result of the aforesaid suspension of rights;
    

 

11

 

	
 
    	
 
    	
 
    	
 
    	
(xi)                              in the event that,   pursuant to the BVI Business Companies Act, 2004 (as amended), a compromise   or arrangement (other than a scheme of arrangement contemplated in paragraph   (v)) between the Company and the shareholders and/or the creditors of the   Company is proposed for the purposes of or in connection with a scheme for   the reconstruction of the Company or its amalgamation with any other company   or companies prior to the Expiry Date of the relevant Option, the Company   shall give notice thereof to all the Grantees on the same day as it   despatches to the shareholders and/or its creditors a notice summoning the   meeting to consider such a compromise or arrangement and, notwithstanding any   other terms on which the Option was granted, all Options held by each Grantee   shall vest (to the extent not already vested) and each Grantee shall be   entitled to exercise the Option (to the extent not already exercised) to its   full extent by the Grantee giving notice to the Company, such notice to be   given not later than three 3 Business Days prior to the date of the proposed   meeting.  The Company shall as soon as   possible and in any event no later than two (2) Business Day immediately   prior to the date of the proposed meeting, allot and issue such number of   Shares to the Grantee which falls to be issued on such exercise of the   Option, credited as fully paid and shall issue to the Grantee (or his   custodian agent) share certificates in respect of the Shares so allotted.   With effect from the date that is two (2) Business Days before the date   of such meeting, the rights of all Grantees to exercise their respective   Options shall forthwith be suspended. The Board shall endeavour to procure   that the Shares issued upon the exercise of the Options in such circumstances   shall for the purposes of such compromise or arrangement form part of the   issued share capital of the Company on the effective date thereof and that   such Shares shall in all respects be subject to such compromise or   arrangement. If, for any reason, such compromise or arrangement is not   approved by the relevant court (whether upon the terms presented to the   relevant court or upon any other terms as may be approved by such court), the   rights of the Grantees to exercise their respective Options shall, with   effect from the date of the making of the order by the relevant court and to   the extent they had not been exercised at the date such rights were   suspended, be restored in full as if such compromise or arrangement had not   been proposed by the Company and neither the Company nor the directors shall   be liable for any loss or damage suffered or sustained by any Grantee as a   result of the aforesaid suspension of rights; and
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
(xii)                           in the event that the   Company enters into an agreement or arrangement for a transaction in which   the Company is not the surviving entity (other than a transaction the   principal purpose of which is to change the jurisdiction in which the Company   is incorporated or a transaction contemplated in any of paragraphs (iv) to   (vii) above) prior to the Expiry Date of the relevant Option,   notwithstanding any other terms on which the Option was granted, all Options   held by the Grantee shall be vested (to the extent not already vested) and   the Grantee shall be entitled to exercise the Option (to the extent not   already exercised) to
    

 

12

 

	
 
    	
 
    	
 
    	
 
    	
its full extent by   the Grantee giving notice to the Company at any time after the agreement or   arrangement is entered into and until the completion of such transaction,   upon which time the Option (to the extent not already exercised) will lapse   automatically.
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
Upon the expiry of the   periods as stated above, all outstanding Options, to the extent not already   exercised, shall terminate provided always that in each case the Board at its   absolute discretion may decide that such Options shall not so lapse or   determine subject to such conditions or limitations as the Board may decide.

 

In this connection, during   any relevant Option Period, the Board may require a Grantee to supply such   documents and/or information as the Board may at its absolute discretion   consider to be necessary for ascertaining as to whether and when such Grantee   has ceased to be an Eligible Participant.    The Company shall only use all such documents and/or information for   the above purpose but not otherwise.    For the avoidance of doubt, the Company shall be entitled to withhold   from proceeding with such Grantee’s exercise of any Option unless and until   he has provided the requested documents and/or information to the   satisfaction of the Board.
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
(C)
    	
 
    	
Voting, dividend, transfer   and other rights, including but not limited to rights arising on liquidation   of the Company, shall not attach to the Options themselves.  However, once an Option is exercised, the   Shares to be allotted upon the exercise of an Option will be subject to all   the provisions of the Bye-laws of the Company for the time being in force and   will rank pari passu with the fully paid Shares in issue on the relevant   exercise date of an Option or, if that date falls on a day when the register   of members of the Company is closed, the first day of the re-opening of the   register of members, and accordingly will entitle the holders to participate   in all dividends or other distributions paid or made on or after the date of   exercise of the Option or, if that date falls on a day when the register of   members of the Company is closed, the first day of the re-opening of the   register of members, other than any dividend or other distribution previously   declared or recommended or resolved to be paid or made if the record date   therefor is before the date of exercise of the Option.
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
(E)
    	
 
    	
In respect of each individual grant and at   its sole and absolute discretion, the Board may set out:
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
(i)                                     certain performance targets which must be achieved before the   Options can be exercised;
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
(ii)                                  certain performance targets which will accelerate vesting of   fixed-term Options; or
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
(iii)                               the minimum period for which an Option must be held before it can   be exercised.
    

 

13

 

	
7.
    	
 
    	
EXPIRY OF OPTION
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
An Option shall lapse automatically and not be exercisable (to the   extent not already exercised) on the earliest of:
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
(A)
    	
 
    	
the Expiry Date;
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
(B)
    	
 
    	
the expiry of any of the periods referred to   in paragraph 6(B)(i) to 6(B)(ix) and 6(B)(xii) above;
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
(C)
    	
 
    	
the date of the commencement of the   winding-up of the Company referred to in paragraph 6(B)(x);
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
(D)
    	
 
    	
the   date on which the compromise or arrangement referred to in paragraph 6(B)(xi) becomes   effective;
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
(E)
    	
 
    	
the date on which the Grantee ceases to be an   Eligible Participant by the termination of his or her employment or service   with the Company or any Subsidiary or in the case of a director of the   Company, the date his or her removal from the Board, on any of the following   grounds:
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
(i)                                     that he or she has committed any act of serious   misconduct or any dishonest act; or
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
(ii)                                  that he or she is subject to any bankruptcy   proceedings or has become insolvent or has made arrangements or composition   with his or her creditors generally; or
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
(iii)                               that he or she has been convicted of a criminal   offence involving his or her integrity or honesty; or
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
(iv)                              in the case of a director of the Company, that he or   she is determined by the Board to fail to have the character, experience or   competence commensurate with his position as a director of a listed company;   or
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
(v)                                 if so determined by the Board, that the Company or   the relevant Subsidiary would be entitled to terminate his or her employment   or service at common law or pursuant to an any applicable laws or rules or   regulations or under the Grantee’s service contract with the Company or the   relevant Subsidiary.
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
A resolution of the Board to the effect that   the employment or service or directorship of a Grantee has or has not been   terminated on one or more of the grounds specified in this   paragraph 7(E) shall be conclusive;
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
(F)
    	
 
    	
the date on which the Grantee (whether intentionally   or otherwise) commits a breach of paragraph 4(H); and
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
(G)
    	
 
    	
in respect of such Shares which are subject   to performance target(s), the date on which the relevant performance target(s) are not satisfied.
    

 

14

 

	
8.
    	
 
    	
MAXIMUM NUMBER OF SHARES   SUBJECT TO THE SCHEME
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
(A)
    	
 
    	
The total number   of Shares which may be issued upon exercise of all Options to be granted   under the Scheme shall   be subject to a maximum limit of ten per cent. (10%) of the Shares in issue   as at the Adoption Date (excluding Shares which may be issued upon exercise   of options granted under other previous share option scheme(s) involving   the grant by the Company and/or any Subsidiary of options over new Shares   issued by the Company, whether such options are exercised, outstanding,   cancelled or lapsed), unless the Company obtains an approval from shareholders in general   meeting to refresh such ten per cent. (10%) limit in accordance with the   Listing Rules.  Options lapsed in accordance with the terms   of the Scheme will not be counted for the purpose of calculating such ten per   cent. (10%) limit.  The   limit on the number of Shares which may be issued upon exercise of all   outstanding Options granted and yet to be exercised under the Scheme and any   other share option schemes of the Company and/or any Subsidiary must not   exceed thirty per cent. (30%) of the Shares of the Company in issue from time   to time, and no options may be granted under the Scheme or any other share option   schemes of the Company and/or any Subsidiary if it will result in such thirty   per cent. (30%) limit being exceeded.
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
(B)
    	
 
    	
The maximum number of Shares referred to in   paragraph 8(A) shall be adjusted, in such manner as the Auditors   shall certify to be appropriate, fair and reasonable in the event of any   alteration in the capital structure of the Company in accordance with   paragraph 10 below, whether by way of capitalization of profits or   reserves, rights issue, consolidation, reclassification, reconstruction,   subdivision or reduction of the share capital of the Company but in any   event, subject to paragraph 8(A), shall not in aggregate exceed thirty   per cent (30%) the relevant class of securities of the Company in issue from   time to time.
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
9.
    	
 
    	
GRANT OF OPTIONS TO CONNECTED   PERSONS
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
The   independent non-executive directors of the Company (excluding any independent   non-executive director of the Company who is the Grantee of the Options) will   be required to approve each grant of Options to a director, chief executive,   or substantial shareholder of the Company or any of their associates.
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
If a grant   of Options to a substantial shareholder or an independent non-executive   director of the Company or their respective associates will result in the   total number of Shares issued and to be issued upon exercise of Options   granted and to be granted (including Options exercised, cancelled and   outstanding) to such person in the 12-month period up to and including the   date of such grant:
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
(A)
    	
 
    	
representing in aggregate over 0.1 per cent.   of the issued share capital of the Company from time to time; and
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
(B)
    	
 
    	
having an aggregate value, based on the   closing price of the Shares as stated in the Stock Exchange’s daily quotations   sheet at the date of each grant, in excess of HK$5 million,
    

 

15

 

	
 
    	
 
    	
such further   grant of Options will be required to be approved (voting by way of poll) by   the shareholders of the Company.  The   Company will be required to send a circular to the shareholders.  All Connected Persons of the Company will   be required to abstain from voting at such general meeting, except that any   Connected Person may vote against the relevant resolution at the general   meeting provided that his intention to do so has been stated in the circular   to be sent to the shareholders in connection therewith.
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
Any change in the terms of an Option   granted to any director, chief executive or substantial shareholder of the   Company, or any of their respective associates, shall be subject to the prior   approval by the shareholders in general meeting by way of poll and all   Connected Persons of the Company shall abstain from voting in favour of the   resolution at such general meeting. The Company shall send a circular to the   shareholders in accordance with the requirements of the Listing Rules.
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
10.
    	
 
    	
REORGANIZATION OF CAPITAL   STRUCTURE
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
In the event   of any alteration in the capital structure of the Company while any Option remains exercisable, whether by way   of capitalization of profits or reserves, rights   issue, consolidation, sub-division, or reduction of the share capital of the Company or otherwise howsoever in accordance with legal requirements and requirements of the Stock Exchange, other   than any alteration in the capital structure of the   Company as a result of an issue of Shares as consideration in a transaction to which the Company or any of its   Subsidiaries is a party or an issue of shares pursuant to, or in connection with, any share option scheme, share   appreciation rights scheme or any arrangement for   remunerating or incentivizing any employee, consultant or adviser to the Company or any Subsidiary, such corresponding alterations (if any) shall be   made to:-
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
(A)
    	
 
    	
the number or nominal value of Shares subject   to any Option so far as such Option or any part thereof remains unexercised;
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
(B)
    	
 
    	
the Subscription Price;
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
(C)
    	
 
    	
the method of exercise of the Option; and/or
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
(D)
    	
 
    	
the maximum number of Shares in respect of   which Options may be granted under the Scheme.
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
or any   combination thereof, as the Company’s Auditors or independent financial   adviser shall certify in writing to the Board that, in their opinion, such adjustments satisfy the   requirements set out in Rule 17.03(13) of the Listing Rules and any   guidance/interpretation of the Listing Rules issued by the Stock   Exchange from time to time. The capacity of the Auditors or the independent   financial adviser in this paragraph is that of experts and not of arbitrators   and their certification shall, in the absence of manifest error, be final and binding on the Company   and the Grantees.  The costs of the Auditors or independent   financial adviser shall be borne by the Company.  Any such   adjustments shall give the Eligible Participant the same proportion of the   equity capital of the Company  and any   adjustments to the advantage of the Eligible Participant to the exercise   price or to the number of Shares subject to the Options must be approved by   the shareholders of the Company in general meeting, and no adjustment may be   made to the extent that Shares would be issued at less than 
    

 

16

 

	
 
    	
 
    	
their   nominal value.  In addition, any adjustment   to be made will comply with the Listing Rules and any future   guidance/interpretation of the Listing Rules issued by the Stock   Exchange from time to time.
    
	
 
    	
 
    	
 
    
	
11.
    	
 
    	
SHARE CAPITAL
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
The exercise   of any Option shall be subject to the members of the Company in general   meeting approving any necessary increase in the authorised share capital of the   Company.  Subject thereto, the Board   shall make available sufficient authorised but unissued share capital of the   Company to meet subsisting requirements on the exercise of   Options.
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
12.
    	
 
    	
DISPUTES
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
Any dispute   arising in connection with this Scheme (whether as to the number of Shares   underlying an Option, the amount of the Subscription Price or otherwise)   shall be referred to the decision   of the Board in the first instance, which decision shall, in the absence of manifest error, be final   and binding on the Company and the Grantee. Should the Board, in its sole   discretion, decide, any dispute referred to them may subsequently be referred   to the decision of the Auditors who shall then act as experts and   not as arbitrators and whose decision shall, in the absence of manifest   error, be final and binding on the Company and the Grantee. In such cases, the costs of the Auditors   shall be shared equally between the Company   and the relevant Grantee.
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
13.
    	
 
    	
ALTERATION OF THE SCHEME
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
(A)
    	
 
    	
Subject to the terms set out in the paragraph   below, the Board may amend any of the provisions of this Scheme (including   without limitation amendments in order to comply with changes in legal or   regulatory requirements and amendments in order to waive any restrictions,   imposed by the provisions of this Scheme, which are not found in chapter 17   of the Listing Rules) at any time (but not so as to affect adversely any   rights which have accrued to any Grantee at that date).  Those specific provisions of this Scheme   which relate to the matters set out in Rule 17.03 of the Listing Rules cannot   be altered to the advantage of Eligible Participant without the prior   approval of shareholders of the Company in general meeting.
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
(B)
    	
 
    	
Any alterations to the terms and conditions   of this Scheme which are of a material nature, or any change to the terms of   Options granted, must be approved by the shareholders of the Company in   general meeting, except where the alterations take effect automatically under   the existing terms of this Scheme. This Scheme so altered must comply with   chapter 17 of the Listing Rules.
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
(C)
    	
 
    	
Any change to the authority of the Board or   administrators of this Scheme in relation to any alteration to the terms of   this Scheme must be approved by shareholders of the Company in general   meeting.
    

 

17

 

	
14.
    	
 
    	
TERMINATION
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
The Company   by ordinary resolution in general meeting or the Board may at any time   terminate the operation of this Scheme and in such event   no further Options will be offered but in all other respects the provisions   of this Scheme shall remain in force and Options   granted prior to such termination shall continue to be valid and exercisable   in accordance with this Scheme.
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
15.
    	
 
    	
CANCELLATION
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
(A)
    	
 
    	
The   Board may at any time with the consent of and on such terms as may be agreed   with the relevant Grantee cancel Options previously granted to but not yet   exercised by a Grantee.
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
(B)
    	
 
    	
Options cancelled   pursuant to this paragraph 15 may be re-granted in accordance with the   provisions of this Scheme. Where   the Company cancels Options and offers new Options to the same Grantee, the   offer of such new Options may only be made with available Options to the   extent not yet granted (excluding the cancelled Options) within the limits   prescribed by paragraph 8.
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
16.
    	
 
    	
GENERAL
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
(A)
    	
 
    	
The Company shall bear the costs of   establishing and administering the Scheme.
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
(B)
    	
 
    	
A Grantee shall be entitled to receive copies   of all notices and other documents sent by the Company to holders of Shares.
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
(C)
    	
 
    	
Any notices or other communication between   the Company and a Grantee shall be in writing and may be given by sending the same by prepaid post or   by personal delivery to, in the case of the Company, its principal place of business in Hong Kong, or such other   address as notified to the Grantee   from time to time and, in the case of the Grantee, his or her address in Hong   Kong as notified to the Company from time to time.
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
(D)
    	
 
    	
Any notice or other communication served by post:
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
(i)                                     by the Company shall be deemed to have been served   48 hours after the same was put in the post or if delivered by hand, when   delivered; and
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
(ii)                                  by the Grantee shall not be deemed to have been   received until the same shall have been received by the Company.
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
(E)
    	
 
    	
All allotments and issues of Shares pursuant   to the Scheme shall be subject to any necessary consents under the relevant   laws, enactments or regulations for the time being in force in Hong Kong, the British Virgin Islands and such other jurisdictions where a Grantee is located, resident,   employed or contracted for service, and the Grantee shall be responsible for obtaining any   governmental or other official consent that may be required by any country or   jurisdiction for or in connection with the grant or exercise of an Option.
    

 

18

 

	
 
    	
 
    	
 
    	
 
    	
Neither the Company nor any of its   Subsidiaries shall be responsible for (i) any failure by a Grantee to   obtain any such consent or approval; (ii) any failure by a Grantee to exercise an Option   during its Option Period as a result of not having obtained such a consent or   approval; or (iii) any tax or other liability to which a Grantee may   become subject as a result of his or her participation in the Scheme. A   Grantee shall, on demand, indemnify the Company in full against all claims   and demands which may be made against the Company (whether alone or jointly   with other party or parties) for or in respect of or in connection with any   failure on the part of the Grantee to obtain any necessary consent referred   to above or to pay tax or other liabilities referred to above and against all   incidental costs and expenses which may be incurred by the Company.
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
(F)
    	
 
    	
The Scheme shall not constitute a contract of   employment or engagement of services between the Company or any Subsidiary   and any Eligible Participant or any part thereof, and neither the Scheme nor   participation in the Scheme shall confer on any person any legal or equitable   rights (other than those constituting the Options themselves) against the   Company directly or indirectly or give rise to any cause of action at law or   in equity against the Company.    Participation in this Scheme by a Grantee shall be a matter entirely   separate from any pension right or entitlement he or she may have and from   his or her terms or conditions of employment.    In particular (but without limiting the generality of the foregoing)   any Eligible Participant or Grantee whose employment with or engagement by   the Company or Subsidiary is terminated for any reason whatsoever (whether   lawful or unlawful) shall not be entitled to any compensation or damages for   any loss or diminution in value of any right or benefit or prospective right   or benefit under this Scheme which he or she might otherwise have enjoyed   whether such compensation is claimed by way of damages for wrongful dismissal   or breach of contract or by way of compensation for loss of office or   otherwise howsoever.  In the event of   any conflict between the terms of this Scheme and an Eligible Participant’s   terms of employment or engagement, the Scheme shall take precedence.
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
(G)
    	
 
    	
By accepting an Option, a Grantee shall be deemed irrevocably to have   accepted the grant subject to the provisions of this Scheme and to have   waived any entitlement, by way of compensation for loss of office or   otherwise howsoever, to any sum or other benefit to compensate him or her for   loss of any rights under this Scheme.
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
17.
    	
 
    	
GOVERNING LAW
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
(A)
    	
 
    	
The Scheme and all Options granted hereunder   shall be governed by and construed in accordance with the laws of Hong Kong.
    

 

19

 

Document No.               

 

SCHEDULE A

 

FEISHANG ANTHRACITE RESOURCES LIMITED SHARE OPTION SCHEME

 

LETTER OF OFFER

 

	
[Employee’s   Name and Position]
    	
 
    	
PRIVATE AND CONFIDENTIAL
    
	
[Employee’s   Address]
    	
 
    	
FOR ADDRESSEE ONLY
    
	
 
    	
 
    	
 
    
	
[Date]
    	
 
    	
 
    

 

Dear [Employee’s Name]

 

The Board of Directors of Feishang Anthracite Resources Limited (the Company) would like to invite you to participate in the Feishang Anthracite Resources Limited Share Option Scheme (the Scheme).  The terms used in this letter shall have the same meaning given to them in the Scheme.

 

Accordingly, an offer is hereby made to grant you an Option, in consideration of the payment by you of a sum of HK$1.00, to subscribe for and be allotted [                ] ordinary shares of HK$[0.01] each in the capital of the Company at the price of HK$[                ]  per ordinary share.  The Option shall be subject to the terms and conditions of this Letter of Offer and the Scheme (as the same may be amended from time to time pursuant to the terms and conditions of the Scheme), a copy of which is enclosed herewith.

 

The Option Period shall be [                ]  years and the Option may be exercised before the Expiry Date in accordance with the following Vesting Schedule:

 

[                                                ]

 

The Option is personal to you and may not be sold, mortgaged, transferred, charged, assigned, pledged or otherwise disposed of or encumbered in whole or in part or any way whatsoever.

 

If you wish to accept the offer, please sign and return the enclosed Acceptance Form with a sum of HK$1.00 not later than [     ] a.m./p.m. on the [      ] day of [                           ] 2      , failing which this offer will automatically lapse.

 

Yours faithfully
 For and on behalf of
 FEISHANG ANTHRACITE RESOURCES LIMITED

 

	
 
    	
 
    	
 
    
	
[Name]
    
	
[Designation]
    

 

20

 

SCHEDULE B

 

FEISHANG ANTHRACITE RESOURCES LIMITED SHARE OPTION SCHEME

 

ACCEPTANCE FORM

 

	
To:
    	
The Company   Secretary
    
	
 
    	
Feishang   Anthracite Resources Limited
    

 

	
Closing Time   and Date for Acceptance of Option
    	
:
    	
 
    
	
 
    	
 
    	
 
    
	
No. of   Shares in respect of which Option is offered
    	
:
    	
 
    
	
 
    	
 
    	
 
    
	
Subscription   Price per Share
    	
:
    	
HK$[·]
    
	
 
    	
 
    	
 
    
	
Option   Period
    	
:
    	
[                   ] years
    
	
 
    	
 
    	
 
    
	
Vesting   Schedule
    	
:
    	
[                   ]
    
	
 
    	
 
    	
 
    
	
Minimum number   of Shares in relation to which Option can be exercised
    	
:
    	
[                   ]
    
	
 
    	
 
    	
 
    
	
[Manner   of payment of Subscription Price]
    	
:
    	
[                   ]
    
	
 
    	
 
    	
 
    
	
Method of   exercise of Option
    	
:
    	
Provision of   notice of exercise to the Company
    

 

I have read your Letter of Offer dated [                       ] (the Offer Date) and agree to be bound by the terms and conditions thereof and of the Feishang Anthracite Resources Limited Share Option Scheme (the Scheme) enclosed therewith.  I confirm that my acceptance of the Option will not result in the contravention of any applicable law or regulation in relation to the ownership of shares in the Company or options to subscribe for such shares.

 

I hereby accept the Option to subscribe for [                    ] ordinary shares of HK$[0.01] each in the capital of Feishang Anthracite Resources Limited (the Shares) at HK$[·] per Share and enclose *cash/banker’s draft/cashier’s order/postal order no.[          ] for HK$1.00 being payment for the purchase of the Option.

 

I hereby acknowledge that you have not made any representation or warranty or given me any expectation of employment or continued employment to induce me to accept the offer and that

 

21

 

the terms of the Scheme, the Letter of Offer and this Acceptance Form constitute the entire agreement between us relating to the offer.

 

I agree to keep all information pertaining to the grant of the Option to me confidential.  I will refrain from making any copies of the Scheme documents or  showing any such documents to any person without written authorization from the Company.

 

Any action taken or decision made by the Company, the Board, or its delegates arising out of or in connection with the construction, administration, interpretation or effect of the Scheme or this Acceptance Form shall lie within its sole and absolute discretion, as the case may be, and shall be final, conclusive and binding on me.  By accepting this grant or other benefit under the Scheme, I shall be conclusively deemed to have indicated (i) acceptance and ratification of, and consent to, any action taken under the Scheme by the Company, the Board or its delegates; and (ii) acceptance of the terms of the Scheme.

 

I acknowledge: (i) that the Scheme is discretionary in nature and may be suspended or terminated by the Company at any time; (ii) that the grant of the options under the Scheme is a one-time benefit which does not create any contractual or other right to receive future grants of options, or benefits in lieu of options; (iii) that all determinations with respect to any such future grants, including, but not limited to, the times when rights shall be granted, the exercise price, and the time or times when each right shall be exercisable, will be at the sole discretion of the Company; (iv) that my participation in the Scheme is voluntary; (v) that the value of the option is an extraordinary item of compensation which is outside the scope of my employment contract, if any; (vi) that the option is not part of normal or expected compensation for purposes of calculating any severance, resignation, redundancy, end of service payments, bonuses, long-service awards, pension or retirement benefits or similar payments; (vii) that the right to purchase stock ceases upon termination of employment for any reason except as may otherwise be explicitly provided in the Scheme; (viii) that the future value of the shares purchased under the Scheme is unknown and cannot be predicted with certainty; and (ix) that if the underlying shares do not increase in value, the option will have no value.

 

As a condition of the grant of the option, I consent to the collection, use and transfer of personal data as described in this paragraph.  I understand that the Company and its subsidiaries hold certain personal information about me, including but not limited to my name, home address and telephone number, date of birth, Hong Kong Identity Card Number/Passport, salary, nationality, job title, any shares of stock or directorships held in the Company, details of all options or any other entitlement to shares of stock awarded, cancelled, exercised, vested, unvested or outstanding in my favour, for the purpose of managing and administering the Scheme (Data).  I further understand the Company and/or its subsidiaries will transfer Data amongst themselves for purposes of implementation, administration and management of my participation in the Scheme, and that the Company and/or any of its subsidiaries may each further transfer Data to any third parties assisting the Company in the implementation, administration and management of the Scheme and who has a duty of confidentiality to the Company.  I understand that these recipients may be located in Hong Kong or overseas.  I authorise them to receive, possess, use, retain and transfer the Data, in electronic or other form, for purpose of implementing, administering and managing our participation in the Scheme, as may be required for the administration of the Scheme and/or the subsequent holding of shares on my behalf.  I understand that I may, at any time, view Data, require any necessary amendments to it or withdraw the consent herein in writing by contacting [name of contact person] at [address].  I 

 

22

 

understand that if I withdraw the consent herein the Company may terminate my participation in the Scheme.

 

PLEASE PRINT IN BLOCK LETTERS

 

	
Name in full
    	
:
    	
 
    
	
 
    	
 
    	
 
    
	
Designation
    	
:
    	
 
    
	
 
    	
 
    	
 
    
	
Address
    	
:
    	
 
    
	
 
    	
 
    	
 
    
	
Nationality
    	
:
    	
 
    
	
 
    	
 
    	
 
    
	
*Hong Kong   Identity Card No./Passport No.
    	
: 
    	
 
    
	
 
    	
 
    	
 
    
	
Signature
    	
:
    	
 
    
	
 
    	
 
    	
 
    
	
Date
    	
 
    	
 
    

 

*Delete as appropriate

 

Notes:

 

The Acceptance Form must be forwarded to the Company Secretary in an envelope marked “Private and Confidential”.

 

23

 

SCHEDULE C

 

FEISHANG ANTHRACITE RESOURCES LIMITED SHARE OPTION SCHEME

 

NOTICE OF EXERCISE

 

Feishang Anthracite Resources Limited

 

 

Attn: [                     ]

 

I                                                                (Name),                                                           (Title) of                                                                                      (Address) hereby exercise [all][part] of my Option in the Feishang Anthracite Resources Limited Share Option Scheme and enclose my remittance for shares in Feishang Anthracite Resources Limited as follows:

 

 

	
Number of   Shares subject to Option subscribed for:
    	
 
    
	
 
    	
 
    
	
Subscription   Price: (per share)
    	
HK$[                ]
    
	
 
    	
 
    
	
Total   Remittance:
    	
HK$
    

 

 

	
 
    	
 
    	
 
    
	
Signature of   Option holder
    	
Date
    

 

24

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00225-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00225-of-00352.parquet"}]]