Document:

Exhibit
10.6

    

    Equity
Pledge Agreement

    

    By
and among

    

    The
Shareholder of Beijing Ruijieao Bio-Technology Ltd.

    

    Beijing
Ruijieao Bio-Technology Ltd.

    

    and

    

    NeoStem
(China), Inc.

     

    June
1, 2009

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      Equity
Pledge Agreement 

        
          

        

      

       

    

    EQUITY
PLEDGE AGREEMENT

    

    THIS
EQUITY PLEDGE AGREEMENT (hereinafter referred to as “this Agreement”) is
executed by the following parties on June 1, 2009 in Qingdao City, People’s
Republic of China ( the “PRC”):

    

    
      (1)
Sole shareholder of Beijing Ruijieao Bio-Technology Ltd.

    

    
      (hereinafter
as “Party A” or “Pledgor”)

    

    

    
      
        
          
            
              
                
                  
                    
                      	
                              Name
      of the

                              Shareholder

                            	 
      	
                              Shareholding

                              Ratio
      (%)

                            	 
      	
                              ID
      Card No.

                            	 
      	
                              Contact
      Address

                            
	
                              Fu
      Wenyuan

                            	
                                

                            	
                              100

                            	
                                

                            	 
      	
                                

                            	
                              No.27
      Shandabei Road, Licheng District, Ji’nan
City

                            

                    

                  

                

              

            

          

        

      

    

    

    (2)
NeoStem (China), Inc. (hereinafter as “Party B” or “Pledgee”)

    

    
      Registered
Address: Room 0425A, Building C, No.6 XiangGangZhong Road, Shinan District,
Qingdao City

    

    Legal
Representative: Robin Smith

    

    (3)
Beijing Ruijieao Bio-Technology Ltd. (hereinafter as “Party C” or the
“Company”)

    

    
      Registered
Address: Room 2007 20/F, Qingyundangdai Building, No.9 Mantingfangyuan
Community, Qingyun Li, Haidian District, Beijing City

    

    Legal
Representative: Fu Wenyuan

     

      (Pledgor,
Pledgee and the Company may be collectively called the “Parties” and
individually as “Each Party”.)

     

    WHEREAS,

    

    
      	
              1. 

            	
              The
      Company is a domestic company incorporated and validly existing under PRC
      Laws, and its business license No. is
  110108011860295

            

    

    

    
      	
              2. 

            	
              The
      Pledgor, the PRC citizen,legally
      holds 100% Equity Interests in the
Company;

            

    

    

    
      	
              3. 

            	
              The
      Pledgee, as a wholly foreign-owned enterprise, was duly incorporated and
      validly existing under the PRC
Laws;

            

    

     

    
      
        
        

      

      
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      Equity
Pledge Agreement 

        
          

        

      

    

     

    
      	
              4. 

            	
              Party
      B signed a consigned management and technology service agreement (the
      “Consigned Management and Technology Service Agreement”) on June 1, 2009
      with Party C and Party A, and Party A agrees to pledge all his equities in
      Party C to Party B as a guaranty for the performance of the obligations
      thereunder.

            

    

     

    
      	
              5. 

            	
              The
      Parties signed an exclusive purchase option agreement (the “Exclusive
      Purchase Option Agreement”) on June 1, 2009, and the Parties thereto agree
      that Party A shall pledge all his equities in Party C to Party B as a
      guaranty of the performance of the obligations assumed by Party A and
      Party C thereunder.

            

    

     

    
      	
              6. 

            	
              Party
      A and Party B signed a loan agreement (the “Loan Agreement”) on June 1,
      2009, and the Party A agrees to pledge all his equities in Party C to
      Party B as a guaranty of the performance of the obligations
      thereunder.

            

    

     

    NOW THEREFORE, the Parties,
through friendly negotiations, hereby enter into this Agreement with respect to
the equity pledge.

    

    
      	
              1.

            	
              Definitions and
      Interpretation

            

    

     

    Unless
otherwise provided in this Agreement, the following terms shall have the
following meanings:

    

    
      	
            	
              1.1 

            	
              “PRC”
      refers to the People’s Republic of China, excluding the HongKong Special
      Administrative Region, Macao Special Administrative Region and Taiwan
      Province;

            

    

    

    
      	
            	
              1.2 

            	
              “PRC
      Laws” refers to all PRC laws, administrative regulations and government
      rules in effect;

            

    

    

    
      	
            	
              1.3 

            	
              “Pledged
      Equity” refers to all the equity in the Company as provided in
      Article2.1;

            

    

    

    
      	
            	
              1.4 

            	
              “Main
      Agreements” refers to the Loan Agreement, Consigned Management and
      Technology Service Agreement and Exclusive Purchase Option Agreement and
      the Appendixes thereof (if
applicable);

            

    

    

    
      	
            	
              1.5 

            	
              “Right
      of Pledge” refers to the right owned by the Pledgee to be first
      compensated from the money converted from or the proceeds from the auction
      or sale of the Pledged Equity by the Pledgor to the Pledgee in the event
      of default of Pledgor and/or Party C, and such right shall cause the
      Pledgee to be entitled to the bonus arising from Pledged
      Equity;

            

    

    

    
      	
            	
              1.6 

            	
              “AICB”
      refers to the competent Administration Bureau of Industry and Commerce
      which is authorized in accordance with PRC Laws to register the Pledged
      Equity hereunder;

            

    

     

    
      
        
        

      

      
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      Equity
Pledge Agreement 

        
          

        

      

    

     

    
      	
            	
              1.7 

            	
              “Event
      of Default” refers to the event as defined in Article 8
      hereunder.

            

    

    

    
      	
            	
              1.8 

            	
              “Business
      Day” refers to any day except Saturday, Sunday and other public holidays
      as permitted by PRC Laws;

            

    

    

    
      	
              2.

            	
              Equity
      Pledge

            

    

     

    
      	
            	
              2.1 

            	
              The
      Parties agree that Pledgor shall pledge all his Equities in the Company to
      the Pledgee as a guaranty for the performance of the obligations assumed
      by the Pledgor and/or the Company under each of the Main
      Agreements.

            

    

    

    
      	
            	
              2.2

            	
              In
      case the Pledgor increase the registered capital in the Company during the
      term of this Agreement, such increased capital shall be equally deemed as
      the Pledged Equity.

            

    

    

    
      	
            	
              2.3 

            	
              In
      case any act conducted by the Pledgor or the Company may cause the Right
      of Pledge damaged so as to harm the interests of the Pledgee, the Pledgee
      is entitled to require the Pledged Equity to be auctioned or sold in
      advance and the proceeds from such auction or sale shall be used to
      discharge the debt secured by the Pledged Equity in
    advance.

            

    

    

    
      	
              3.

            	
              Registration of
      Pledge

            

    

    

    
      	
            	
              3.1

            	
              Upon
      the execution of this Agreement, the Pledgor shall cause the Company to
      record the Right of Pledge in the register of shareholders and deliver it
      with the common seal of the Company as well as the original of equity
      contribution certificate of the Pledgor to the Pledgee for keeping. Within
      the term of this Agreement, Party B shall return the register of
      shareholders and equity contribution certificate to the Company for
      modification registration with AICB, and the Company shall complete the
      modification registration within 10  business days upon receipt
      of the register of shareholders and equity contribution certificate, and
      Party A together with the Company shall continue to deliver such modified
      register of shareholders and equity contribution certificate to Party B
      within 2 business days following the completion of the aforesaid
      registration.

            

    

    

    
      	
            	
              3.2 

            	
              The
      Parties agree that if AICB accept the registration with respect to the
      equity pledge, he will promptly cause the Pledged Equity under this
      Agreement to be recorded at AICB, and the Parties confirm that whether the
      Pledged Equity is recorded as above or not shall not affect the validity
      of this Agreement unless compulsorily required by PRC
  Laws.

            

    

     

    
      
        
        

      

      
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      Equity
Pledge Agreement 

        
          

        

      

    

     

    
      	
            	
              3.3 

            	
              After
      the signing of this Agreement, the Pledgor shall in accordance with the
      Pledgee’s written request which may be made by the Pledgee from time to
      time, together with the Pledgee, notarized this agreement as well as the
      register of shareholders with the recorded Pledged Equity in a notary
      public office as designated by the Pledgee, and Party A and the Company
      shall give assistant with respect to the notarization following the
      delivery of the notice with the request of notarization by Party
      B.

            

    

    

    
      	
              4. 

            	
              Representations
      and Warranties

            

    

    

    
      	
            	
              4.1

            	
              Each
      Party under this Agreement represents and warrants to other Parties
      that:

            

    

    (1) it
has relevant power, rights and authorizations for the execution hereof, and
performance of the obligations hereunder;

    (2) the
execution and performance of this Agreement shall not violate or conflict with
any of the terms and conditions of other agreements signed between the
Parties.

    

    
      	
            	
              4.2

            	
              The
      Pledgor represent and warrant to the Pledgee
  that:

            

    

    (1) he is
the legal owner of the Pledged Equity, and have fulfilled the obligations of
capital contribution in the registered capital of the Company;

    (2)
except for the Right of Pledge as setup hereunder, the Pledged Equity is not
subject to any pledge, guaranty or other form of encumbrances;

    (3) he
does not or will not transfer the Pledged Equity to any third party or make any
agreements, whether oral or written, with respect to the transfer of Pledged
Equity.

    

    
      	
            	
              4.3 

            	
              The
      Company agrees to undertake the joint liability with respect to the
      representations and warrants made by the
  Pledgor.

            

    

    

    
      	
              5.

            	
              Obligations of
      Pledgor

            

    

    

    
      	
            	
              5.1 

            	
              The
      dividend and bonus arising from the Pledged Equity shall be deposited in
      an escrow account for the supervision of the
  Pledgee.

            

    

    

    
      	
            	
              5.2 

            	
              Apart
      from the encumbrance set forth hereunder and under the Exclusive Purchase
      Option Agreement, without the Pledgee’s prior written consent, the Pledgor
      shall not sell, transfer, mortgage or otherwise dispose of the Pledged
      Equity, nor shall place encumbrances on such Pledged
    Equity;

            

    

    

    
      	
            	
              5.3 

            	
              Without
      the Pledgee’s prior written consent, the Pledgor shall not supplement or
      amend the articles of association of the Company in any manner, nor shall
      it increase or decrease the registered capital or change the shareholding
      structure of the Company in any
manner;

            

    

     

    
      
        
        

      

      
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      Equity
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              5.4 

            	
              The
      Pledgor shall not approve for the resolutions on the dissolution,
      liquidation and change of legal form of the
  Company;

            

    

    

    
      	
            	
              5.5 

            	
              The
      Pledgor shall not approve for any Profit Distribution Proposal, nor shall
      accept such distributed dividend without the Pledgee’s prior written
      consent; At the Pledgee’s request, it shall promptly approve for the
      Profit Distribution Proposal, and accept such distributed
      dividend;

            

    

    

    
      	
            	
              5.6 

            	
              At
      the Pledgee’s request, the Pledgor shall provide the Pledgee with all
      information regarding the business operation and financial condition of
      the Company;

            

    

    

    
      	
            	
              5.7 

            	
              The
      Pledgor shall not incur or succeed to any debts or liabilities which may
      adversely affect his equity interests in the Company without the Pledgee’s
      prior written consent;

            

    

    

    
      	
            	
              5.8 

            	
              The
      Pledgor shall appoint, and appoint only, the candidates nominated by the
      Pledgee to be the executive director of the Company, and shall not replace
      such candidates without the Pledgee’s prior written
    consent;

            

    

    

    
      	
            	
              5.9 

            	
              The
      Pledgor shall not approve any acquisition of, any consolidation with, or
      any investment in any third party without the Pledgee’s prior written
      consent;

            

    

    

    
      	
            	
              5.10 

            	
              The
      Pledgor shall promptly notify the Pledgee of any pending or threatened
      lawsuit, arbitration or administrative dispute which involve the assets,
      business or incomes of the Company, and take positive measures against
      aforesaid lawsuits, arbitrations or administrative
  dispute;

            

    

    

    
      	
            	
              5.11 

            	
              The
      Pledgor shall not commit any conducts or omissions that may adversely
      affect the assets, business operation, the debts and liabilities of the
      Company without the Pledgee’s prior written
  consent;

            

    

    

    
      	
            	
              5.12 

            	
              To
      the extent permitted by the PRC laws and regulations, and at any time upon
      Pledgee’s request, the Pledgor shall promptly and unconditionally transfer
      his equity interests of the Company to Pledgee or its designated third
      party in accordance with the Exclusive Purchase Option
      Agreement;

            

    

    

    
      	
            	
              5.13 

            	
              The
      Pledgor shall approve for the resolution in respect of the Equity Transfer
      or Assets Transfer hereunder within the extent permitted by the PRC
      laws;

            

    

    

    
      	
            	
              5.14 

            	
              The
      Pledgor shall make every efforts to cause the Company perform the
      obligations of Article 6 hereunder;

            

    

     

    
      
        
        

      

      
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      Equity
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              5.15 

            	
              The
      Pledgor shall, to the extent permitted by applicable laws, cause the
      business term of Party C (including the circumstance of change of business
      terms) not shorter than that of Party B(including the circumstance of
      change of business terms);

            

    

    

    
      	
            	
              5.16 

            	
              The
      Pledgor shall strictly comply with the provisions of this Agreement, and
      effectively perform its obligations hereunder, and shall be prohibited
      from committing any act or omission which may affect the validity or
      enforceability of this Agreement.

            

    

    

    
      	
            	
              5.17 

            	
              The
      Pledgor hereby authorizes the Pledgee to exercise all the shareholder’s
      rights as the Party C’s shareholder within the scope permitted by the PRC
      laws and articles of association of Party C on behalf of the Pledgor,
      including the voting right and decision right in Party
  C.

            

    

     

    
      	
              6. 

            	
              Obligations
      of the Company

            

    

    

    
      	
            	
              6.1 

            	
              Without
      the Pledgee’s prior written consent, it shall not supplement or amend the
      articles of association or rules of the Company in any manner, nor shall
      it increase or decrease the registered capital or change the shareholding
      structure of aforesaid entities in any
manner;

            

    

     

    
      	
            	
              6.2 

            	
              It
      shall prudently and effectively maintain its business operations according
      to good financial and business standards so as to maintain or increase the
      value of its assets;

            

    

    

    
      	
            	
              6.3 

            	
              Unless
      as required necessary for the business operation of the Company or upon
      the prior written consent by Party B , it shall not transfer, mortgage or
      otherwise dispose of the lawful rights and interests to and in its assets
      or incomes, nor shall it encumber its assets and income in any way that
      would affect the Pledgee’s security interests
  hereunder;

            

    

    

    
      	
            	
              6.4 

            	
              It
      shall not incur or succeed to any debts or liabilities unless as required
      necessary for the business operation of the Company or upon the prior
      written consent by Party B;

            

    

    

    
      	
            	
              6.5 

            	
              Without
      the Pledgee’s prior written consent, it shall not enter into or materially amend any
      material contract (exceeding RMB100,000 in value), except for the routine
      business contracts;

            

    

    

    
      	
            	
              6.6 

            	
              Without
      the Pledgee’s prior written consent, it shall not provide any loans or
      guaranty to any third party;

            

    

    

    
      	
            	
              6.7 

            	
              At
      the Pledgee’s request, it shall provide the Pledgee with all information
      regarding its business operation and financial
  condition;

            

    

     

    
      
        
        

      

      
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              6.8 

            	
              The
      Company shall purchase insurance from insurance companies acceptable to
      the Pledgee in such amounts and of such kinds as are customary in the
      region among companies doing similar business and having similar
      assets;

            

    

     

    
      	
            	
              6.9 

            	
              Without
      the Pledgee’s prior written consent, it shall not acquire or consolidate
      with any third party, nor shall they invest in any third
      party;

            

    

    

    
      	
            	
              6.10 

            	
              It
      shall promptly notify the Pledgee of any pending or threatened lawsuit,
      arbitration or administrative dispute which involve its assets, business
      or incomes, and take positive measures against aforesaid lawsuits,
      arbitrations or administrative
dispute;

            

    

    

    
      	
            	
              6.11 

            	
              Without
      the Pledgee’s prior written consent, it shall not distribute any dividends
      to the Pledgor in any manner, and at the Pledgee’s request, it shall
      promptly distribute all distributable dividends to the
      Pledgor.

            

    

    

    
      	
            	
              6.12 

            	
              Without
      the Pledgee’s prior written consent, it shall not commit any act or
      omission that would materially affect its assets, business or
      liabilities;

            

    

    

    
      	
              7.

            	
              Exercise of Right of
      Pledge

            

    

    

    
      	
            	
              7.1 

            	
              The
      Pledgee may exercise the Right of Pledge at any time following the
      delivery of Notice of Default as provided in Article 8.2 to the
      Pledgor.

            

    

    

    
      	
            	
              7.2 

            	
              The
      Pledgee is entitled to be first compensated with the money converted from
      or the proceeds from auction or sale of all or part of Pledged Equity in
      accordance with legal proceedings unless the Pledgor has duly and
      completely performed the obligations under Main
  Agreements.

            

    

    

    
      	
            	
              7.3 

            	
              Within
      the term of this Agreement, If the Pledged Equity hereunder is subjected
      to any compulsory measures implemented by a court or other departments due
      to the Pledgor’ failing to repay the debts which fall due or violation of
      PRC Laws or state policies etc., the Pledgor
  shall,

            

    

    (1)
notify the Pledgee in written form of such compulsory measures within three (3)
days following its occurrence;

    (2) use
all efforts (including but not limited to provide other security to the court or
other government authorities), in order to dismiss the compulsory measures taken
by the court or other government authorities over the Pledged
Equity.

    

    
      	
            	
              7.4 

            	
              The
      Pledgor shall not hinder the Pledgee from exercising the Right of Pledge
      and shall give necessary assistance so that the Pledgee could realize its
      Right of Pledge.

            

    

     

    
      
        
        

      

      
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      Equity
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              8.

            	
              Event of
      Default

            

    

    

    
      	
            	
              8.1 

            	
              The
      following events shall be regarded as the Events of
    Default:

            

    

    

    
      	
            	
              8.1.1 

            	
              Any
      Party breaches any of the representations or warranties
      hereunder;

            

    

    

    
      	
            	
              8.1.2 

            	
              The
      Pledgor and/or the Company breache(s) any of the representations or
      warranties under the Main
Agreements;

            

    

    

    
      	
            	
              8.1.3 

            	
              The
      Pledgor and/or the Company fail(s) to duly and completely perform the
      obligations hereunder;

            

    

    

    
      	
            	
              8.1.4 

            	
              The
      Pledgor and/or the Company fail(s) to duly and completely perform the
      obligations under the Main
Agreements;

            

    

    

    
      	
            	
              8.1.5 

            	
              Any
      other external borrowing, guaranty, compensation or other liabilities of
      the Pledgor: (1) is required for an early repayment or performance prior
      to the scheduled date due to any breach by the Pledgor; or (2) is
      duebut
      can not be repaid or perform as scheduled, which , at the discretion of
      the Pledgee, has an adverse effect on the Pledgor’ ability of performing
      the obligations under this
Agreement;

            

    

    

    
      	
            	
              8.1.6 

            	
              The
      properties owned by Pledgor have significant adverse changes, which, at
      the discretion of Pledgee, has an adverse effect on Pledgor’s ability of
      performing the obligations under this
Agreement;

            

    

     

    
      	
            	
              8.2 

            	
              Unless
      the Pledgor takes the action to Pledgee’s satisfaction to remedy the
      defaults as listed in Article 8.1 hereof, the Pledgee may give a written
      notice about default (“Notice of Default”) to the Pledgor when such
      default occurs or at any time
thereafter.

            

    

     

    
      	
              9. 

            	
              Taxes
      and Expenses

            

    

    

    
      	
            	
              9.1 

            	
              The
      Parties shall pay, in accordance with relevant PRC laws and regulations,
      their respective taxes and expenses arising from the execution and
      performance of this Agreement.

            

    

    

    
      	
              10. 

            	
              Assignment

            

    

    

    
      	
            	
              10.1 

            	
              The
      Pledgor shall not transfer part or all of the rights and obligations under
      this Agreement without prior written consent from the
    Pledgee.

            

    

     

    
      
        
        

      

      
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      Equity
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              10.2 

            	
              To
      the extent being permitted by law, the Pledgee shall have the right to
      transfer any or all of its rights and obligations under this Agreement to
      any third party upon a six (6) –day written notice to the Pledgor or the
      Company without its approval.

            

    

    

    
      	
              11. 

            	
              Effectiveness
      Modification and Cancellation

            

    

    

    
      	
            	
              11.1 

            	
              This
      Agreement shall be executed on the date set forth in the first page and
      shall become effective on the day on which the Pledged Equity is recorded
      on the register of the
shareholders.

            

    

    

    
      	
            	
              11.2 

            	
              The
      modification of this Agreement shall not be effective without written
      agreement through negotiation. If the Parties could not reach an
      agreement, this Agreement remains
effective.

            

    

    

    
      	
            	
              11.3 

            	
              This
      Agreement shall not be discharged or canceled without written agreement
      through negotiation.

            

    

    

    
      	
              12. 

            	
              Confidentiality

            

    

    

    
      	
            	
              12.1 

            	
              Any
      information, documents, data and all other materials (herein “Confidential
      Information”) arising out of the negotiation, signing, and implement of
      this Agreement, shall be kept in strict confidence by the Parties. Without
      the written approval by the other Parties, any Party shall not disclose to
      any third party any Confidential Information, but the following
      circumstances shall be excluded:

            

    

    

    
      	
            	
              a. 

            	
              The
      materials that is known by the Public (but not include the materials
      disclosed by each Party receiving the Confidential
      Information);

            

    

    

    
      	
            	
              b. 

            	
              The
      materials required to be disclosed subject to the applicable laws or the
      rules or provisions of stock exchange;
or

            

    

    

    
      	
            	
              c. 

            	
              The
      materials disclosed by each Party to its legal or financial consultant
      relating the transaction of this Agreement, and this legal or financial
      consultant shall comply with the confidentiality set forth in this
      Section. The disclosure of the Confidential Information by staff or
      employed institution of any Party shall be deemed as the disclosure of
      such Confidential Information by such Party, and such Party shall bear the
      liabilities for breaching the
contract.

            

    

     

    
      	
            	
              12.2 

            	
              This
      Clause shall survive whatever this Agreement is invalid, amended, revoked,
      terminated or unable to implement by any
reason.

            

    

     

    
      
        
        

      

      
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      Equity
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              13. 

            	
              Force
      Majeure

            

    

    

    
      	
            	
              13.1 

            	
              An
      event of force majeure means an event that could not be foreseen, and
      could not be avoided and overcome, which includes among other things, but
      without limitation, acts of nature (such as earthquake, flood or fire),
      government acts, strikes or riots;

            

    

    

    
      	
            	
              13.2 

            	
              If
      an event of force majeure occurs, any of the Parties who is prevented from
      performing its obligations under this Agreement by an event of force
      majeure shall notify the other Parties without delay and within fifteen
      (15) days of the event provide detailed information about and notarized
      documents evidencing the event and take appropriate means to minimize or
      remove the negative effects of force majeure on the other Parties, and
      shall not assume the liabilities for breaching this Agreement. The Parties
      shall keep on performing this Agreement after the event of force majeure
      disappears.

            

    

    

    
      	
              14. 

            	
              Applicable
      Law and Dispute Resolution

            

    

    

    
      	
            	
              14.1 

            	
              The
      execution, validity, construing and performance of this Agreement and the
      disputes resolution under this Agreement shall be governed by the laws and
      regulations of the PRC.

            

    

    

    
      	
            	
              14.2

            	
               The
      Parties shall strive to settle any dispute arising from or in connection
      with this Agreement through friendly consultation. In case no settlement
      can be reached through consultation within thirty (30) days after such
      dispute is raised, each Party can submit such matter to Qingdao
      Arbitration Commission for arbitration in accordance with its rules. The
      arbitration award shall be final conclusive and binding upon the
      Parties.

            

    

    

    
      	
            	
              14.3 

            	
              During
      the process of dispute-resolution, the Parties shall continue to perform
      other terms under this Agreement, except for provisions subject to the
      dispute resolution.

            

    

    

    
      	
              15. 

            	
              Miscellaneous

            

    

    

    
      	
            	
              15.1 

            	
              Entire
      Agreement

            

    

    

    The
Parties acknowledge that this Agreement constitutes the entire agreement of the
Parties with respect to the subject matters therein and supersedes and replaces
all prior or contemporaneous oral or written agreements and
understandings.

    

    
      	
            	
              15.2 

            	
              Successor

            

    

    

    This
Agreement shall bind and benefit the successor of each Party and the transferee
permitted hereunder with the same rights and obligations as if the original
parties hereof.

     

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

     

    
      Equity
Pledge Agreement 

        
          

        

      

    

     

    
      	
            	
              15.3 

            	
              Notice

            

    

    

    Any
notice required to be given or delivered to the Parties hereunder shall be in
writing and delivered to the address as indicated below or such other address or
as such party may designate, in writing, from time to time. All notices shall be
deemed to have been given or delivered upon by personal delivery, fax and
registered mail. It shall be deemed to be delivered upon: (1) registered air
mail: 5 business days after deposit in the mail; (2) personal delivery or
delivery by fax: the next business day after transmission. If the notice is
delivered by fax, it should be confirmed by original through registered air mail
or personal delivery.

    

    Party
A

    Contact
person: Fu
Wenyuan

    Address:
No.27 Shandabei Road, Licheng
District, Ji’nan City

    Tel:

    Fax:

    

    Party
B

    Contact
person: Robin Smith

    Address:

    Tel:

    Fax:

    

    Party
C

    Contact
person: Fu
Wenyuan

    Address:
Room 2007 20/F, Qingyundangdai Building, No.9 Mantingfangyuan Community, Qingyun
Li, Haidian District, Beijing City

    Tel:

    Fax:

     

    
      	
            	
              15.4 

            	
              This
      Agreement is executed in three (3) originals with each Party holding one
      original, and each of the originals shall be equally valid and
      authentic.

            

    

    

    
      	
            	
              15.6 

            	
              Whenever
      the consent of the Pledgee is required under this Agreement, such consent
      shall not be effective unless such consent is also provided by either the
      sole shareholder, or the Executive Director, of the
    Pledgee.

            

    

    

    [Signature page
follows]

     

    
      
         

      

      
        11

        
          

        

      

      
         

      

    

     

    
      Equity
Pledge Agreement 

        
          

        

      

    

     

    IN WITNESS WHEREOF, each party
has caused this Agreement to be executed and delivered as of the date first
above written.

    

    Party A The Shareholder of
Beijing Ruijieao Bio-Technology Ltd. (“Pledgor”)

    

    
      
        
          
            
              
                
                  
                    	
                            Name
      of the

                            Shareholder

                          	 	
                            Signature

                          
	 	 	 
	
                            Fu
      Wenyuan

                          	 	
                            /s/
      Fu
Wenyuan

                          

                  

                

              

            

          

        

      

    

    

    
      Party B  NeoStem
(China), Inc. (“Pledgee”)

    

    

    Legal
Representative: Robin Smith

    Signature
and Company Seal:

    /s/ Robin
Smith

    

    
      Party C  Beijing
Ruijieao Bio-Technology Ltd. (“Company”)

    

    

    Legal
Representative:

    Signature
and Company seal:

    /s/ Fu
Wenyuan

     

    
      
         

      

      
        12Exhibit
10.7

    

    EXCLUSIVE
PURCHASE OPTION AGREEMENT

    

    by
and among

    

    NEOSTEM
(CHINA), INC.

    

    BEIJING
RUIJIEAO BIO-TECHNOLOGY LTD.

    

    and

    

    THE
SHAREHOLDER OF BEIJING RUIJIEAO BIO-TECHNOLOGY
LTD.

    

    June
1, 2009

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    Exclusive
Purchase Option Agreement

    
      
        

      

    EXCLUSIVE
PURCHASE OPTION AGREEMENT

    

    This
Exclusive Option Purchase Agreement (the “Agreement”) is executed by the
following parties on June 1, 2009 in Qingdao City, the People’s Republic of
China.

    

    
      (1) NeoStem (China), Inc. (“Party
A”)

    

    

    Registered
Address: Room 0425A, Building C, No.6 XiangGangZhong Road, Shinan District,
Qingdao City

    

    Legal
representative: Robin Smith

    

    (2) Beijing Ruijieao Bio-Technology Ltd.
(“Party B”)

    

    Registered
Address: Room 2007 20/F, Qingyundangdai Building, No.9 Mantingfangyuan
Community, Qingyun Li, Haidian District, Beijing City

    

    Legal
representative: Fu Wenyuan

    

    
      (3)
Sole shareholder of Beijing Ruijieao Bio-Technology Ltd.

    

    
         
(hereinafter called the “Shareholder”)

    

    

    
      
        	
                Name of the
Shareholder

              	 
      	
                Shareholding
Ratio (%)

              	 
      	
                ID Card No.

              	 
      	
                Contact Address

              
	
                Fu
      Wenyuan

              	 
      	
                100

              	 
      	 
      	 
      	
                No.27
      Shandabei Road, Licheng District, Ji’nan
City

              

      

    

    

    Party A,
Party B, and the Shareholder of Party B are hereinafter from time to time,
collectively, referred to as the “Parties”, and each of them is
hereinafter from time to time referred to as a “Party”.  The equity
interests in Party B held by the Shareholder now existing or hereafter acquired
is hereinafter from time to time referred to as the “Equity Interests” or “Equity”.

    

    WHEREAS:

    

    
      	
              1.

            	
              Party
      A, a wholly foreign-owned enterprise incorporated under the laws of the
      People’s Republic of China (the “PRC”), which engages the
      research & development, transfer and technological consultation
      service of biotech technology, regenerative medical technology and
      anti-aging technology (excluding the development or application of human
      stem cell, gene diagnosis and treatment technologies); consultation of
      economic information; import, export and sales of machines and equipments
      (the import and export do not involve the goods specifically stipulated
      in/by state-operated trade, import & export quota license, export
      quota bidding, export permit, etc.) (The aforesaid business scope should
      be operated with relevant permits if such permits are
      required).

            

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    Exclusive
Purchase Option Agreement 

    
      

    

     

    
      	
              2.

            	
              Party
      B, as a domestic limited liability company, incorporated under PRC laws in
      Beijing, and licensed by Beijing Administration for Industry and Commerce,
      it engages in technology development, technology transfer, technology
      consultation and technology
service.

            

    

    

    
      	
              3.

            	
              As
      of the date of this Agreement, the percentage ownership of the Equity
      Interests in Party B held by the Shareholder shall be set forth as
      described above.

            

    

    

    
      
        	
                4.

              	
                To
      secure the performance of the obligations assumed by Party B and the
      Shareholder under this Agreement, the Shareholder agrees to pledge all
      their equity in Party B to Party A, and has executed Equity Pledge
      Agreement on June 1, 2009 with respect thereto (the “Equity Pledge
      Agreement”).

              

      

    

    

    NOW, THEREFORE, the Parties
through mutual negotiations hereby enter into this Agreement with respect of the
exclusive purchase option right:

    

    
      	
              1.

            	
              THE
      GRANT AND EXERCISE OF PURCHASE
OPTION

            

    

    

    
      	 
      	
              1.1

            	
              The
      Shareholder hereby irrevocably grants to Party A an exclusive purchase
      right at any time, or designate any third party to purchase all or part of
      the Shareholder’ Equity Interests in Party B, provided permitted under the
      PRC laws and regulations and Party B agrees to such grant by the
      Shareholder to Party A. Apart from Party A or any third party designated
      by Party A, no other person shall have the right to purchase such Equity
      Interests. The Shareholder shall transfer his Equity Interests in Party B
      to Party A provided Party A selects to purchase the Shareholder’ Equity
      Interests.

            
	 
      	 
      	 
      
	 
      	
              1.2

            	
              Party
      B hereby irrevocably grants to Party A an exclusive purchase option, at
      any time to acquire all or a substantial part of Party B’s assets,
      provided permitted under the PRC laws and regulations and the Shareholder
      agrees to such grant by Party B to Party A.

            
	 
      	 
      	 
      
	 
      	
              1.3

            	
              For
      the purpose of this Agreement, a “third party” or a “person” may be a
      natural person, company, partnership, enterprise, trust agency or other
      non-corporate entity.

            

    

    

    
      
        	 
      	
                1.4

              	
                To
      the extent permitted under the PRC laws and regulations, Party A shall
      determine at any time and at its own option to exercise such exclusive
      right to (i) purchase the Equity Interests as provided in Section 1.1 by
      written notice to the applicable Shareholder(s) specifying the amount of
      equity to be purchased and the identity of the purchaser (hereinafter
      referred to as “Equity
      Transfer”) or (ii) purchase all or substantially all of Party B’s
      assets as provided in Section 1.2
      (hereinafter referred to as “Assets Transfer”) by
      written notice to Party B (each an "Exercise Notice"). Each Exercise Notice shall be signed
      by either the sole shareholder, or the Executive Director, of Party
      A.

              

      

    

     

    
      
         

      

      
        1

        
          

        

      

      
         

      

    

    Exclusive
Purchase Option Agreement 

    
      

    

     

    
      	 
      	
              1.5

            	
              Within
      thirty (30) days of the receipt of the Exercise Notice, the applicable
      Shareholder and Party B shall execute a share/asset transfer agreement and
      other documents (collectively, the "Transfer Documents")
      necessary to effect the respective transfer of equity or assets to Party A
      (or any eligible party designated by Party A), and shall unconditionally
      assist Party A to obtain all approvals, permits, registrations, filings
      and other procedures necessary to effect the Equity or Assets
      Transfer.

            

    

    

    
      	 
      	
              1.6

            	
              Unless
      otherwise required under the PRC laws and regulations, the transaction
      price for the Equity Transfer or the Assets Transfer hereunder, as
      applicable, shall be the lowest price permitted under the PRC laws and
      regulations.

            
	 
      	 
      	 
      
	 
      	
              1.7

            	
              The
      consideration after tax payment (the “Consideration of Equity Transfer”)
      obtained by the Shareholder from Equity Transfer in Party B hereunder
      shall be used to satisfy their repayment obligations under the Loan
      Agreement dated as of June 1, 2009, signed by and among, Party A and the
      Shareholder (the “Loan Agreement”);

               

              The
      consideration after tax payment (the “Consideration of Assets Transfer”)
      by the  Party B, if as applicable, from Assets Transfer
      hereunder shall be allocated to the Shareholder, to the largest extent as
      permitted by PRC laws and regulations, through profit allocation proposal
      and fulfill their payment obligations under the Loan Agreement, and Party
      B shall give full cooperation;

               

              And
      if the Consideration of Equity Transfer or Assets Transfer is higher than
      the total principal under the Loan Agreement due to the requirement by the
      applicable law or any other reasons, the excess shall be deemed as loan
      interests and/or utilizing fees of the Loan to the largest extent being
      permitted by PRC Laws, and be paid to Party A by the Shareholder together
      with loan principal.

            

    

    

    
      	
              2.

            	
              REPRESENTATIONS
      AND WARRANTIES

            

    

    

    
      	 
      	
              2.1

            	
              Each
      Party hereto represents to the other Parties that: (1) it has all the
      necessary rights, powers and authorizations to enter into this Agreement
      and perform its duties and obligations hereunder; and (2) the execution or
      performance of this Agreement shall not violate or conflict with the terms
      of any other contracts or agreements to which it is a
    party.

            

    

    

    
      	 
      	
              2.2

            	
              The
      Shareholder hereby represents to Party A that: (1) the Shareholder is the
      legally registered shareholder of party B and has paid full amount of
      registered capital in Party B as required to be contributed by the
      Shareholder under the PRC laws and regulations; (2)except for the Equity
      Pledge Agreement executed among the Parties, the Shareholder has not
      created any other mortgage, pledge, secured interests or other form of
      debt liabilities over the Equity Interests held by the Shareholder; and
      (3) the Shareholder has not transfer to any third party (and entered into
      any agreement in respect of)  such Equity
    Interests.

            

    

     

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    Exclusive
Purchase Option Agreement 

    
      

    

     

    
      	 
      	
              2.3

            	
              Party
      B hereto represents to Party A that: (1) it is a limited liability company
      duly registered and validly existing under the PRC laws and regulations;
      and (2) its business operations are in compliance with applicable laws and
      regulations of the PRC in all material
respects.

            

    

    

    
      	
              3.

            	
               OBLIGATIONS
      OF PARTY B AND ALL SHAREHOLDER

            

    

    

    The
Parties further agree as follows:

    

    
      	 
      	
              3.1

            	
              Before
      Party A has acquired all the equity/assets of Party B by exercising the
      purchase option provided hereunder, Party
B:

            

    

    

    
      	 
      	
              a.

            	
              without
      Party A’s prior written consent, shall not supplement or amend the
      articles of association or rules of Party B in any manner, nor shall it
      increase or decrease the registered capital or change the shareholding
      structure of aforesaid entities in any manner;

            
	 
      	
              b.

            	
              shall
      prudently and effectively maintain its business operations according to
      good financial and business standards so as to maintain or increase the
      value of its assets;

            

    

    

    
      	 
      	
              c.

            	
              shall
      not transfer, mortgage or otherwise dispose of the lawful rights and
      interests to and in its assets or incomes, nor shall it encumber its
      assets and income in any way that would affect Party A’s security
      interests unless as required necessary for the business operation of Party
      B or upon prior written consent by Party A
;

            

    

    

    
      	 
      	
              d.

            	
              shall
      not incur or succeed to any debts or liabilities without Party A’s prior
      written consent;

            

    

    

    
      	 
      	
              e.

            	
              without
      Party A’s prior written consent, shall not enter into or materially amend
      any material contract (exceeding RMB 100,000 in value) except for the
      routine business contracts;

            

    

    

    
      	 
      	
              f.

            	
              without
      Party A’s prior written consent, shall not provide any loans or guaranty
      to any third party;

            

    

    

    
      	 
      	
              g.

            	
              at
      Party A’s request, it shall provide Party A with all information regarding
      Party B’s business operation and financial
  condition;

            

    

     

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    Exclusive
Purchase Option Agreement 

    
      

    

     

     

    
      	 
      	
              h.

            	
              shall
      purchase insurance from insurance companies acceptable to Party A in such
      amounts and of such kinds as are customary in the region among companies
      doing similar business and having similar
  assets;

            

    

    

    
      	 
      	
              i.

            	
              without
      Party A’s prior written consent,  shall not acquire or
      consolidate with any third party, nor shall they invest in any third
      party;

            

    

    

    
      	 
      	
              j.

            	
              shall
      promptly notify Party A of any pending or threatened lawsuit, arbitration
      or administrative dispute which involve Party B’s assets, business or
      incomes, and take positive measures against aforesaid lawsuits,
      arbitrations or administrative
dispute;

            

    

     

    
      
        
          
            
              
                
                  
                    
                      
                        
                          
                            	 
      	
                                    k.

                                  	
                                    without
      Party A’s prior written consent, shall not distribute any dividends to the
      Shareholder in any manner, and, at Party A’s request, shall promptly
      distribute all distributable dividends to the Shareholder of Party
      B;

                                  
	 
      	 
      	 
      
	 
      	
                                    l.

                                  	
                                    without
      Party A’s prior written consent, shall not commit any act or omission that
      would materially affect Party B’s assets, business or
      liabilities;

                                  
	 
      	 
      	 
      
	 
      	
                                    m

                                  	
                                    at
      Party A’s request, shall promptly and unconditionally transfer its assets
      to Party A or its designated third party as permitted by PRC laws and
      regulations;

                                  
	 
      	 
      	 
      
	 
      	
                                    n

                                  	
                                    shall
      strictly comply with the provisions of this Agreement, and effectively
      perform its obligations hereunder, and shall be prohibited from committing
      any act or omission which may affect the validity or enforceability of
      this
Agreement.

                                  

                          

                        

                      

                    

                  

                

              

            

          

        

      

    

     

    
      
        
          	
                	
                  3.2

                	
                  Before
      Party A has acquired all the equity/assets of Party B by exercising the
      purchase option provided hereunder, the
  Shareholder:

                

        

      

    

     

    
      
        
          	 
      	
                  a.

                	
                  apart
      from relevant provisions in each of the Equity Pledge Agreements, without
      Party A’s prior written consent, shall not transfer, sell, mortgage or
      otherwise dispose of the Equity Interests in Party B; nor shall the
      Shareholder places encumbrances on the Equity Interests that would affect
      Party A’s interest hereunder and thereunder;

                
	 
      	 
      	 
      
	 
      	
                  b.

                	
                  without
      Party A’s prior written consent, shall not supplement or amend the
      articles of association or rules of Party B in any manner, nor shall it
      increase or decrease its registered capital or change the shareholding
      structure in any manner;

                
	 
      	 
      	 
      
	 
      	
                  c.

                	
                  without
      Party A’s prior written consent, shall not approve for the resolutions
      on  the dissolution, liquidation and change of legal form of
      Party B;

                

        

      

    

     

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

     

    Exclusive
Purchase Option Agreement 

    
      

    

     

    
      	 
      	
              d.

            	
              shall
      not approve for any Profit Distribution Proposal, nor shall accept such
      distributed dividend without Party A’s written consent; At Party A’s
      request, he shall promptly approve for the Profit Distribution Proposal,
      and accept such distributed
dividend.

            

    

    

    
      	 
      	
              e.

            	
              at
      Party A’s request, shall provide Party A with all information regarding
      Party B’s business operation and financial
  condition;

            

    

    

    
      	 
      	
              f.

            	
              shall
      not incur or succeed to any debts or liabilities which may adversely
      affect its Equity Interests in Party B without Party A’s prior written
      consent;

            

    

    

    
      	 
      	
              g.

            	
              shall
      appoint, and appoint only, the candidates nominated by Party A to be the
      executive director of Party B, and shall not replace such candidates
      without Party A’s prior written
consent;

            

    

    

    
      	 
      	
              h.

            	
              shall
      not approve any acquisition of, any consolidation with, or any investment
      in any third party without Party A’s prior written
  consent;

            

    

    

    
      	 
      	
              i.

            	
              shall
      promptly notify Party A of any pending or threatened lawsuit, arbitration
      or administrative dispute which involve Party B’s assets, business or
      incomes, and take positive measures against aforesaid lawsuits,
      arbitrations or administrative
dispute;

            

    

    

    
      	 
      	
              j.

            	
              without
      Party A’s prior written consent, shall not commit any act or omission that
      would materially affect Party B’s assets, business or
      liabilities;

            

    

    

    
      	 
      	
              k.

            	
              to
      the extent permitted by the PRC laws and regulations, and at any time upon
      Party A’s request, shall promptly and unconditionally transfer their
      Equity Interests in Party B to Party A or a third party designated by
      Party A;

            

    

    

    
      	 
      	
              l.

            	
              shall
      approve for the resolution in respect of the Equity Transfer or Assets
      Transfer hereunder within the extent permitted by the PRC
      laws;

            

    

    

    
      	 
      	
              m.

            	
              shall
      make every efforts to cause Party B perform the obligations of
      Section  3.1 hereunder;
and

            

    

    

    
      	 
      	
              n.

            	
              shall
      strictly comply with the provisions of this Agreement, and effectively
      perform its obligations hereunder, and shall be prohibited from committing
      any act or omission which may affect the validity or enforceability of
      this Agreement.

            

    

     

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

     

    Exclusive
Purchase Option Agreement 

      

    

     

    
      	 
      	
              3.3

            	
              The
      Shareholder shall, to the extent permitted by applicable laws, cause Party
      B's
      operational term (including the circumstance of change of business terms)
      to be extended to equal the operational term of Party A (including the
      circumstance of change of business
terms).

            

    

    

    
      	
              4.

            	
              GUARANTY
      OF THIS AGREEMENT

            

    

    

    
      	 
      	
              4.1

            	
              To
      secure the performance of the obligations assumed by the Shareholder and
      Party B hereunder, the Parties agree to execute the Equity Pledge
      Agreement with respect thereto.

            

    

    

    
      	
              5.

            	
              TAXES
      AND FEES

            

    

    

    
      	 
      	
              5.1

            	
              The
      Parties shall pay, in accordance with relevant PRC laws and regulations,
      their respective taxes arising from Equity or Assets transfer and related
      registration formalities and other charges during the transactions
      contemplated herein and therein.

            

    

    

    
      	
              6.

            	
              ASSIGNMENT
      OF AGREEMENT

            

    

    

    
      	 
      	
              6.1

            	
              Party
      B and the Shareholder shall not transfer the Shareholder’s rights and
      obligations under this Agreement to any third party without the prior
      written consent of Party A.

            

    

    

    
      	 
      	
              6.2

            	
              The
      Shareholder and Party B agree that Party A shall have the right to
      transfer any or all of its rights and obligations under this Agreement to
      any third party upon a six(6)–day written notice to the Shareholder and
      Party B without approval by the Shareholder and Party
  B.

            

    

    

    
      	
              7.

            	
              EVENTS
      OF DEFAULT

            

    

    

    
      	 
      	
              7.1

            	
              Any
      violation of any provision hereof, incomplete performance of any
      obligation provided hereunder, any misrepresentation made hereunder,
      material concealment or omission of any material fact or failure to
      perform any covenants provided hereunder by any Party shall constitute an
      event of default. The defaulting Party shall assume all the legal
      liabilities pursuant to the applicable PRC laws and
      regulations.

            

    

    

    
      	 
      	
              7.2

            	
              In
      the event of default by Party B or the Shareholder, Party A shall be
      entitled to exercise the Pledgee’s right under the Equity Pledge
      Agreement  in the event that  Party B and Shareholder
      commit an event of default and fail to redress such default within sixty
      (60) business days upon receipt of written notification from Party
      A.

            

    

     

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

    Exclusive
Purchase Option Agreement 

    
      

    

     

    
      	
              8.

            	
              EFFECTIVEMESS,
      MODIFICATION AND CANCELLATION

            

    

    

    
      	 
      	
              8.1

            	
              This
      Agreement shall be effective upon the execution hereof by all Parties
      hereto.

            

    

    

    
      	 
      	
              8.2

            	
              The
      modification of this Agreement shall not be effective without written
      agreement through negotiation. If the Parties could not reach an
      agreement, this Agreement remains
effective.

            

    

    

    
      	 
      	
              8.3

            	
              This
      Agreement shall not be discharged or canceled without  written
      agreement through negotiation, provided Party A may, by giving a thirty
      (30) days prior notice to the other Parties hereto, terminate this
      Agreement.

            

    

    

    
      	
              9.

            	
              CONFIDENTIALITY

            

    

    

    
      	 
      	
              9.1

            	
              Any
      information, documents, data and all other materials (herein “confidential
      information”) arising out of the negotiation, signing, and implement of
      this Agreement, shall be kept in strict confidence by the Parties. Without
      the written approval by the other Parties, any Party shall not disclose to
      any third party any relevant materials, but the following circumstances
      shall be excluded:

            

    

    

    
      	 
      	
              a.

            	
              The
      materials that is known by the Public (but not include the materials
      disclosed by each Party receiving the
  materials);

            

    

    

    
      	 
      	
              b.

            	
              The
      materials required to be disclosed subject to the applicable laws or the
      rules or provisions of stock exchange;
or

            

    

    

    
      	 
      	
              c.

            	
              The
      materials disclosed by each Party to its legal or financial consultant
      relating the transaction of this Agreement, and this legal or financial
      consultant shall comply with the confidentiality set forth in this
      Section. The disclosure of the confidential materials by staff or employed
      institution of any Party shall be deemed as the disclosure of such
      materials by such Party, and such Party shall bear the liabilities for
      breaching the contract.

            

    

    

    
      	 
      	
              9.2

            	
              If
      this Agreement is terminated or becomes invalid or unenforceable, the
      validity and enforceability of Article 9 shall not be affected or
      impaired.

            

    

    

    
      	
              10.

            	
              FORCE
      MAJEURE

            

    

    

    
      	 
      	
              10.1

            	
              An
      event of force majeure means an event that could not be foreseen, and
      could not be avoided and overcome, which includes among other things, but
      without limitation, acts of nature (such as earthquake, flood or fire),
      government acts, strikes or riots;

            

    

    

    
      	 
      	
              10.2

            	
              If
      an event of force majeure occurs, any of the Parties who is prevented from
      performing its obligations under this Agreement by an event of force
      majeure shall notify the other Parties without delay and within fifteen
      (15) days of the event provide detailed information about and notarized
      documents evidencing the event and take appropriate means to minimize or
      remove the negative effects of force majeure on the other Parties, and
      shall not assume the liabilities for breaching this
      Agreement.  The Parties shall keep on performing this Agreement
      after the event of force majeure
disappears.

            

    

     

    
      
         

      

      
        7

        
          

        

      

      
         

      

    

    Exclusive
Purchase Option Agreement 

    
      

    

     

    
      	
              11.

            	
              APPLICABLE
      LAW AND DISPUTE RESOLUTION

            

    

    

    
      	 
      	
              11.1

            	
                
      Applicable Law

            

    

    

    
      	 
      	 
      	
              The
      execution, validity, construing and performance of this Agreement and the
      disputes resolution under this Agreement shall be governed by the laws and
      regulations of the PRC.

            

    

    

    
      	 
      	
              11.2

            	
                
      Dispute Resolution

            

    

    

    
      	 
      	 
      	
              The
      Parties shall strive to settle any dispute arising from or in connection
      with this Agreement through friendly consultation. In case no settlement
      can be reached through consultation within thirty (30) days after such
      dispute is raised, each party can submit such matter to Qingdao
      Arbitration Commission for arbitration in accordance with its rules. The
      arbitration shall take place in Qingdao. The arbitration award shall be
      final conclusive and binding upon the
Parties.

            

    

    

    
      	
              12.

            	
              MISCELLANEOUS

            

    

    

    
      	 
      	
              12.1

            	
                
      Entire Agreement

            

    

    

    
      	 
      	 
      	
              The
      Parties acknowledge that this Agreement constitutes the entire agreement
      of the Parties with respect to the subject matters therein and supersedes
      and replaces all prior or contemporaneous oral or written agreements and
      understandings.

            

    

    

    
      	 
      	
              12.2

            	
                
      Successor

            

    

    

    
      	 
      	 
      	
              This
      Agreement shall bind and benefit the successor of each Party and the
      transferee permitted hereunder with the same rights and obligations as if
      the original parties hereof.

            

    

    

    
      	 
      	
              12.3

            	
                
      Notice

            

    

    

    
      	 
      	 
      	
              Any
      notice required to be given or delivered to the Parties hereunder shall be
      in writing and delivered to the address as indicated below or such other
      address or as such party may designate, in writing, from time to time. All
      notices shall be deemed to have been given or delivered upon by personal
      delivery, fax and registered mail. It shall be deemed to be delivered
      upon: (1) registered air mail: 5 business days after deposit in the mail;
      (2) personal delivery: the next business day after transmission. If the
      notice is delivered by fax, it should be confirmed by original through
      registered air mail or personal
delivery.

            

    

     

    
      
         

      

      
        8

        
          

        

      

      
         

      

    

    Exclusive
Purchase Option Agreement

    
      
        

      

    

     

    Party
A

    Contact
person: Robin Smith

    Address:

    Tel:

    Fax:

    

    Party
B

    Contact
person: Fu Wenyuan

    
      Address:
Room 2007 20/F, Qingyundangdai Building,
No.9
              
Mantingfangyuan Community, Qingyun Li, Haidian
District,
              
Beijing City

    

    Tel:

    Fax:

    

    The
Shareholder

    Contact
person: Fu Wenyuan

    Address:
No.27 Shandabei Road, Licheng District, Ji’nan City

    Tel:

    Fax:

    

    
      	 
      	
              12.4

            	
                
      Copies

            

    

    

    
      	 
      	 
      	
              This
      Agreement is executed in three (3) originals with each of the person for
      signing this Agreement holding one original, and each of the originals
      shall be equally valid and
authentic.

            

    

    .

    
      	 
      	
              12.5

            	
              Whenever
      the consent of Party A is required under this Agreement, such consent
      shall not be effective unless such consent is also provided by either the
      sole shareholder, or the Executive Director, or Party
  A.

            

    

    

    [Signature page
follows]

    
      
         

      

      
        9

        
          

        

      

      
         

      

    

    Exclusive
Purchase Option Agreement 

    
      

    

     

    IN WITNESS THEREFORE, the
parties hereof have caused this Agreement to be executed and delivered as of the
date first written above.

    

    Party A NeoStem (China), Inc.
(Seal)

    

    Legal
Representative (or Authorized Representative):

    /s/ Robin
Smith

    

    Party
B  Beijing Ruijieao Bio-Technology Ltd. (Seal)

    

    Legal
Representative (or Authorized Representative):

    /s/ Fu
Wenyuan

    

    The
Shareholder

    

    
      
        
          	
                  Name of the

                  Shareholder

                	 
      	
                  Signature

                
	
                  Fu
      Wenyuan

                	 
      	
                  /s/
      Fu Wenyuan

                

        

      

    

     

    
      
         

      

      
        10

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