Document:

f8k110810ex10iv_deyu.htm

 

Exhibit 10.4

 

Business Cooperation Agreement

 

 

This Business Cooperation Agreement (hereinafter referred to as “the Agreement”) is signed in Beijing, People’s Republic of China on Nov. 16, 2010 by the following two parties:

 

Party A: Detian Yu Biotechnology (Beijing) Co. Limited

 

Address: A-807 North Star Century Center, 8 Beichen West Road, Chaoyang District, Beijing

 

 

Party B: Jinzhong Longyue Investment Consulting Co., Ltd.

 

Address: No 19 Zhuanyao Street, Yuci District, Jinzhong City

 

 

In view of:

 

	
1.

	
Party A is a validly existing limited company legally established in Beijing, People’s Republic of China (hereinafter referred to as “China”), which is mainly engaged in investment on grain processing enterprises, etc. and management advisory services for grain processing enterprises, etc. As a business cooperative enterprise of Party B, Party A proposes to cooperate in long-term with Party B to develop business jointly, by making use of its broad customer network, strength in investment management and business consulting and of its affiliates, and Party A shall charge cooperation fees and introduction commission accordingly.

 

	
2.

	
Party B is a validly existing limited company legally established in Jinzhong, China, which is mainly engaged in such activities as investment consulting service, etc;

 

Hereby, Party A and Party B reach the following agreement by consensus:

 

	
1.

	
Business Cooperation

 

	
1.1

	
Party B agreed to appoint Party A for providing Party B with business cooperation opportunities (“Business Cooperation”) subject to the provisions and conditions in this Agreement, including but not limited to:

 

	
1.1.1

	
Use of Party A and its affiliated companies’ extensive customer resources in the grain processing and marketing areas to introduce customers to Party B;

 

	
1.1.2

	
Use of Party A and its affiliated companies’ extensive customer resources in the grain processing and marketing areas to introduce business partners to Party B;

 

	
1.1.3

	
Use of Party A and its affiliated companies' extensive customer resources in the financing area to introduce financing business partners to Party B and to seek favorable financing conditions;

 

	
1.1.4

	
Use of Party A and its affiliated companies’ extensive customer resources and business network in the grain processing and marketing areas to provide to Party B relevant market information;

 

	
2.

	
Cooperative Fee, Referral Commission and Payment Method

 

	
2.1

	
As for the business cooperation services provided by Party A, Party B shall pay Party A the cooperation fees and commission, which shall be fixed by the incomes sourced from such services. Party B agrees to pay Party A cooperation fees and commission, the total amount of which shall be 65% of the net income after tax of Party B in every fiscal year. The amount of the net income after tax of Party B shall be subject to the figures verified by the audit report of Party B issued by qualified public accounting firm. Party B shall provide Party A with its audit report within 50 days after the end of each accounting year in the term of the Agreement, and Party A shall provide Party B with corresponding invoices in time upon receiving the audit report of Party B, and Party B shall, within 30 days upon receipt of such invoices from Party A, pay the annual cooperation fees and commission into the following bank account of Party A (or other bank account designated by Party A).

 

 

  

1

  

 

 

	
 

	

Name of account holding bank designated by Party A: Beijing Shangdi Branch of China Merchants Bank

 

Account name: Detian Yu Biotechnology (Beijing) Co. Limited

 

Account No.: 110906556210901

 

	
2.2

	
Both parties, Party A and Party B, herein confirm that the aforesaid service fee represents the remuneration Party A is receivable in consideration of the business cooperation services to be rendered by Party A. All costs and expenditure (“Other Expenses”) including travel expense, transportation expenses, postal charge, etc. incurred by Party A in provision of such services shall be borne by Party B in additional to the aforesaid service fee.

 

	
2.3

	
Party B shall remit Other Expenses of the previous month incurred by Party A into the bank account designated by Party A before 10th of every month; if Party B fails to pay the cooperation fees, commission and Other Expenses in full amount on time in accordance with the provisions of this Agreement, Party B shall pay penal interest on the amount in arrear at an annual interest rate of 10% additionally.

 

	
2.4

	
Party A shall provide Party B with a summary report of its business cooperation and management, consulting services in the previous quarter within 30 days after the end of every quarter for the assessment of Party B, and make modifications according to the needs of Party B in time; and Party A shall provide Party B with its annual business cooperation report within 60 days after the end of every year.

 

	
3.

	
Intellectual Property

 

All rights incurred in the fulfillment of the Agreement, including but not limited to copyright, patent right, technical secret, commercial secret and other intellectual rights, belong to Party A, and the permission matters on usage of such rights shall be determined through additional negotiation by both parties, Party A and Party B.

 

	
4.

	
Confidentiality

 

	
4.1

	
All the other party’s technical data and information (“Confidential Information”) reached or known by either party because of the signing and fulfillment of the Agreement, regardless whether the party has taken security measures, the knowing party shall bear confidential obligations. Without written consent of the other party beforehand, the knowing party shall not leak, disclose or transfer such Confidential Information to any third party, nor use such Confidential Information for the interests of any third party, except for the disclosure in accordance with relevant laws and regulations, or in the instruction or disclosure order of relevant government authorities, or in the fulfillment of information disclosure obligations of relevant exchange.

 

	
4.2

	
The knowing party guarantees only to provide Confidential Information to such personnel necessary to obtain as employee, consultant and agent solely for the purpose of fulfillment of the Agreement, and guarantees that the employee, consultant and agent reaching Confidential Information bear equivalent confidential obligations to this article. The act of such personnel breaching confidential obligations shall be regarded as the act of the knowing party breaching this article, and in this case, the knowing party shall bear compensation liability of breaching the contract under the Agreement to the other party.

 

	
4.3

	
Upon termination of the Agreement, the knowing party shall return all documents and other carriers containing Confidential Information to the other party or destroy them in accordance with the requirements of the other party, and the knowing party shall not maintain or use such Confidential Information in any memory device any longer.

 

  

2

  

 

 

	
4.4

	
The aforesaid restriction is not applicable to:

 

	
  

	
(1)

	
Data that have been commonly obtained by the public from prior disclosure(s);

 

	
  

	
(2)

	
Data that the parties under the Agreement can prove it has known or possessed before disclosure and is not obtained directly or indirectly from the other party;

 

	
  

	
(3)

	
The aforesaid Confidential Information that the parties under the Agreement have obligations to disclose to relevant government authorities, stock exchange and regulatory organizations in accordance with requirements of laws and regulations, or Confidential Information disclosed to its legal counselor and financial consultant in requirement of normal operation by the parties under this Agreement.

 

	
4.5

	
Both parties, Party A and Party B, herein consent that this article shall remain in effect regardless whether there are changes to, rescission or termination of the Agreement.

 

	
5.

	
Statement, Assurance and Commitment

 

	
5.1

	
Statement and assurance of Party A are as follows:

 

	
5.1.1

	
Party A is a validly existing limited company legally established in Beijing, People’s Republic of China.

 

	
5.1.2

	
Party A has obtained due authorization by essential corporate conduct, and has got the consent and permission of the third party or government; No content of the Agreement against laws and corporate internal regulations binding and influencing on it.

 

	
5.1.3

	
For the signing and fulfillment of the Agreement, there is no false information in all facts that Party A disclose to Party B and China’s relevant competent authorities, and there is no big issues necessary to disclose but negligent to disclose.

 

	
5.1.4

	
Upon coming into effect, the Agreement immediately imposes on it legal, valid and binding obligations with enforcement according to the provisions of the Agreement.

 

	
5.2

	
Statement and assurance of Party B are as follows:

 

	
5.2.1

	
Party B is a validly existing limited company legally established in Jinzhong, People’s Republic of China.

 

	
5.2.2

	
Party B has obtained due authorization by essential corporate conduct, and has got the consent and permission of the third party or government; No content of the Agreement against laws and corporate internal regulations binding and influencing on it.

 

	
5.2.3

	
For the signing and fulfillment of the Agreement, there is no false information in all facts that Party B disclose to Party A and China’s relevant competent authorities, and there is no big issues necessary to disclose but negligent to disclose.

 

	
5.2.4

	
Party B irrevocably promise that it will not apply to any judicial authority, arbitration authority, government or any other authority or individual for revoking this Agreement for any reason.

 

	
5.2.5

	
Upon coming into effect, the Agreement immediately imposes on it legal, valid and binding obligations with enforcement according to the provisions of the Agreement.

 

	
5.3

	
Unless receiving Party A’s written consent, Party B shall have no conducts in any form that could affect Party B’s assets, business, personnel, rights and obligations, operation mode, operating activities, management mode and management activities, including but not limited to:

 

	
5.3.1

	
Engage in any management and operation that shall be executed by Party A in accordance with the provisions of the Agreement;

 

	
5.3.2

	
Party B engages in any third party borrowings or creates any other debt;

 

	
5.3.3

	
Change or dismiss any Party B’s director, supervisor, or dismiss and replace any Party B’s senior management personnel;

 

 

  

3

  

 

	
5.3.4

	
Sell or replace or dispose in other form any Party B’s assets or rights to any third party.

 

	
5.3.5

	
Supply guarantee to the third party or in any form based on Party B’s assets, or set up any other rights burden or obligation on Party B’s assets;

 

	
5.3.6

	
Alter Party B’s constitutions or change Party B’s business scope or main business;

 

	
5.3.7

	
Change Party B’s normal business process or change any Party B’s major internal rules and regulations;

 

	
5.3.8

	
Transfer rights and obligations under the Agreement in any form to any third party;

 

	
5.3.9

	
Make major adjustment of Party B’s business operation mode, profit mode, marketing strategies, operation guideline or customer relationships;

 

	
5.3.10

	
Make distribution of bones, dividend or any other interests in any form;

 

	
5.3.11

	
Any other conduct against business cooperation and management, consulting services provided by Party A to Party B.

 

	
6.

	
Effect and Validity Term

 

	
6.1

	
The Agreement is signed on the agreement date indicated at the beginning of the Agreement, and comes into effect from the date both parties consent in writing additionally.

 

	
6.2

	
The valid period of the agreement is 10 years unless it is terminated in advance according to this Agreement.

 

	
6.3

	
This Agreement shall be extended for 2 years automatically if the parties have not written opposition documents prior to the expiration date of this Agreement.

 

	
7.

	
Termination

 

	
7.1

	
Unless being renewed according to this Agreement, the Agreement shall terminate on the expiry date.

 

	
7.2

	
In the premise of not harming the rights or relief enjoyed by Party A under law or other reasons, Party A may serve notice to Party B in writing to terminate the Agreement immediately in following situations: (1) Party B is found in violation of this Agreement and fails to correct its violation conducts within 30 working days after receiving Party A’s written notice; or (2) Party B has such situations as closure, dissolution, liquidation, application for bankruptcy, or being applied for bankruptcy, being revoked of its business license, or other similar situations.

 

	
7.3

	
In the validity term of this Agreement, Party A may terminate the Agreement at any time after it notifies Party B in writing 30 days beforehand.

 

	
7.4

	
If Party B terminates this Agreement prior to the expiry date without reasonable excuse, Party B shall pay Party A one-time penalty of not less than RMB 200, 000.

 

	
7.5

	
After termination of this Agreement, the rights and obligations under Articles 4 and 8 of both parties shall remain in force.

 

	
8.

	
Settlement of Disputes

 

When disputes occur in the interpretation and fulfillment of the articles under the Agreement, both parties shall try to resolve the disputes through kindly negotiation. If no resolution agreements on the disputes are reached within 30 days after either party proposing to resolve the disputes through negotiation, both parties are entitled to submit the disputes to China International Economic and Trade Arbitration Commission (CIETAC) for its arbitration based on the then effective arbitration rules. The place of arbitration is in Beijing; and the language of arbitration is Chinese. The arbitration decision is final decision with binding on both parties.

 

Except for the matters with disputes, both parties shall continue to fulfill the obligations of their own in the principle of good faith in accordance with the provisions of the Agreement.

 

 

  

4

  

 

 

	
9.

	
Force Majeure

 

	
9.1

	
"Force majeure event” means any event that one party may not foresee, or may not avoid or overcome the occurrence and result even it can foresee, including but not limited to wars and natural disasters, etc. However, such matters as credit, funds or inadequate financing shall not be regarded as force majeure events.

 

	
9.2

	
When the fulfillment of the Agreement is delayed of hindered due to above defined force majeure events, the party being affected by the force majeure is exempted for any liabilities hereon under the Agreement, but such exemption is in the premise of the party affected tries all reasonable and feasible efforts to fulfill the Agreement or reduce the impact of force majeure, and the exemption scope is limited in delayed or hindered part. Once the reasons of such exemption being corrected or remedied, both parties shall try their best to recover the fulfillment of the Agreement.

 

	
10.

	
Governing Laws

 

The fulfillment, interpretation and enforcement of the Agreement shall be governed by Chinese laws.

 

	
11.

	
Notice

 

Notices and other communications of either party by provisions of the Agreement shall be in Chinese writing, and shall be regarded as will-be-receiving of the notices when they are sent  to the following addresses of one party or both parties concerned by personal delivery, registered post, mail with postage paid, or agreed express delivery, or in the form of fax.

 

Party A: Detian Yu Biotechnology (Beijing) Co. Limited

 

Address: A-807 North Star Century Center, 8 Beichen West Road, Chaoyang District, Beijing

 

Party B: Jinzhong Longyue Investment Consulting Co., Ltd.

 

Address: No 19 Zhuanyao Street, Yuci District, Jinzhong City

 

	
12.

	
Transfer of Agreement

 

	
12.1

	
Without Party A’s prior written consent, Party B shall not directly or indirectly transfer, sublicense, lease, bestow, pledge, entrust, invest in kind or dispose in other form to third party any rights and/or obligations under the Agreement.

 

	
12.2

	
Party B herein consents that Party A may transfer the whole or partial rights and/or obligations under the Agreement to the third party in accordance with practical situations, and only prior written notification by Party A to Party B is required for such transfer, and Party A is not required to obtain Party B’s written or verbal confirmation beforehand.

 

	
13.

	
Agreement Severability

 

Where any provision under the Agreement becomes invalid or cannot be enforced because of confliction with relevant laws, the provision shall only be deemed as invalid within jurisdiction of the relevant laws, and shall not affect the legal validity of other provisions under the Agreement.

 

	
14.

	
Modification and Supplementation of the Agreement and Others

 

	
14.1

	
Both parties may make modification and supplementation to the Agreement at any time by written agreement. Such modification or supplementation after signing by authorized representatives of both parties form part of the Agreement and have equal legal force with the Agreement.

 

	
14.2

	
Both parties herein confirm that the Agreement is a fair, reasonable agreement reached by both parties on the basis of equality and mutually benefit. If any term or provision of the Agreement are regarded as invalid or cannot be enforced because of the applicable laws, the term shall be regarded as being eliminated from the Agreement and invalid but the other terms of the Agreement remain valid, and the term shall be regarded as not being included at the very start. Both parties shall replace the term being regarded as eliminated with new legal valid term accepted by both parties through negotiation.

 

In witness whereof, both parties hereby render their authorized representatives to sign the Agreement on the date stated at the beginning of the Agreement.

 

[The following page is used for signature with no texts.]

 

 

 

  

5

  

 

(This is only for signature of Business Cooperation Agreement, with no text)

 

 

Party A: Detian Yu Biotechnology (Beijing) Co. Limited

 

Authorized representative: /s/ Authorized Person               

 

 

Party B: Jinzhong Longyue Investment Consulting Co., Ltd.

 

Authorized representative: /s/ Authorized Person               

 

 

 

 6f8k110810ex10v_deyu.htm

 

Exhibit 10.5

 

Business Operation Agreement

 

This Business Operation Agreement (hereinafter referred to as “the Agreement”) is signed by the following parties (hereinafter referred to as “the parties to the Agreement”) in Beijing, China on Nov. 16, 2010:

 

 

Party A: Detian Yu Biotechnology (Beijing) Co. Limited

 

Registered address: A-807 North Star Century Center, 8 Beichen West Road, Chaoyang District, Beijing

 

 

Party B: Beijing Jundaqianyuan Investment Management Co., Ltd.

 

Registered address: A-808 North Star Century Center, 8 Beichen West Road, Chaoyang District, Beijing

 

 

Party C: Tian Wenjun

 

Identity Card No.:

 

 

Party D: Hao Jianming

 

Identity Card No.: 14240119740912343X

 

 

Party E: Yang Jianhui

 

Identity Card No.: 510321196401111437

 

 

Party F: Zhou Jianbin

 

Identity Card No.: 110108196812105473

 

 

Party G: Ren Li

 

Identity Card No.: 130502196302201518

 

 

Party H: Ren Yongqing

 

Identity Card No.: 14240119811206551X

 

 

Party I: Zhang Junde

 

Identity Card No.: 14240119711122481X

 

 

Party J: Wang Tao

 

Identity Card No.: 51030419710214152X

 

 

  

1

  

 

 

In view of:

 

	
1.

	
The Party A is a validly existing limited company legally established in Beijing, China;

 

	
2.

	
The Party B is a validly existing limited company legally established in Beijing, China;

 

	
3.

	
Party A and Party B have established business relationship by signing the agreements of Exclusive Management and Consulting Service Agreement, Business Cooperation Agreement, etc. Party B shall pay Party A various amounts thereof, hence, Party B’s daily business activities will have a substantial influence on its capability of paying corresponding amounts to Party A.

 

	
4.

	
Party C, Party D, Party E, Party F, Party G, Party H, Party I, Party J are shareholders of Party B (collectively referred to as "Shareholders of the Company".)

 

In view of this, the following agreement is reached by the parties to the Agreement through friendly negotiation in the principle of equality and mutual benefit.

 

	
1.

	
Non-action Obligation

 

Article 1 Duty of Omission. For guaranteeing that Party B perform the obligations to Party A under the agreements between Party A and Party B, the shareholders of the Company herein confirm and agree that Party B shall not engage in any transactions which have material effects to the capital, business, personnel, obligations, rights, or operation of the Company without prior written consent by Party A or the third party designated by Party A, including but not limited to the followings:

 

	
1.1

	
To do any activity that is beyond the company’s normal business scope or operates the company’s business in a manner inconsistent with the past or in an unusual way;

 

	
1.2

	
To borrow from or assume any debt to any third party;

 

	
1.3

	
Change or dismiss any Company’s director or dismiss and replace any Company’s senior management personnel;

 

	
1.4

	
To sell to or gain from or dispose of in other way any assets or rights, including but not limited to any intellectual property, with an amount over RMB 50,000 to any third party;

 

	
1.5

	
Supply guarantee to any third party or in any form based on Company’s assets or intellectual property rights, or set up any other rights burden on Company’s assets;

 

	
1.6

	
To amend company constitutions or change business scope of the Company;

 

	
1.7

	
Change Company’s normal business process or change any Company’s major internal rules and regulations;

 

	
1.8

	
To transfer the rights and obligations hereunder to any third party;

 

	
1.9

	
Make major adjustment of Company’s business operation mode, marketing strategies, and operation guideline or customer relationships;

 

	
1.10

	
To make distribution of bonus and dividend in whatever form.

 

	
2.

	
Business Management and Personnel Arrangement

 

	
2.1

	
Party B and the shareholders of the Company hereby agree to accept the time-to-time suggestions provided by Party A about the employment and dismissal of the Company staff, daily business management and the financial management system of the Company, and execute the suggestions strictly.

 

	
2.2

	
Party B and the shareholders of the Company herein agree that the shareholders of the Company shall elect the directors designated by Party A, cause such directors to elect the person designated by Party A as the chairman of the board, and appoint the persons designated by Party A as the general manager, chief finance auditor and other senior operating officers in compliance with the procedures stipulated by relevant laws, regulations and Articles of Association of the Company.

 

  

2

  

 

 

	
2.3

	
If the director(s) designated by Party A or senior management personnel leaves Party A, whether voluntarily or dismissed by Party A, they shall also lose the qualification to take any position in Party B. In this case, the shareholders of the Company shall immediately dismiss them from the position they hold in Party B, and immediately hire other personnel designated by Party A to hold the position.

 

	
2.4

	
For the purpose of Article 2.3 hereof, the shareholders of the company shall take all necessary internal and external procedures to complete the dismissal and employment procedures in accordance with the laws, company constitutions and the provisions of the Agreement.

 

	
2.5

	
When the shareholders of the Company herein sign this Agreement, the power of attorney shall be signed additionally at the same time, according to which, the shareholders of the Company shall irrevocably authorize the personnel designated by Party A to exercise the shareholders’ rights on behalf of them, and exercise full voting rights enjoyed by the shareholders in the name of the shareholders in the board of shareholders of Party B. The shareholders further consent that they shall change the designated authorized personnel in the aforesaid power of attorney at any time in accordance with the request of Party A.

 

	
3.

	
Other Agreement

 

	
3.1

	
If any one of the agreements between Party A and Party B is terminated or expired, Party A shall have the right to decide whether to terminate all the agreements between Party A and Party B or not, including but not limited to the Exclusive Management and Consulting Service Agreement, Business Cooperation Agreement.

 

	
3.2

	
In view of Party A and Party B having established business relations by such agreements as Exclusive Management and Consulting Service Agreement and Business Cooperation Agreement, the daily business actions of Party B will bring substantial effects to the abilities of Party A to make relevant payments. The shareholders of the Company agree that they shall unconditionally pay or freely transfer all the dividends and any other incomes or rights (if any) acquired from Party B as the shareholders of Party B, and provide all the documents or take all the actions needed to satisfy such payment and transfer in compliance with the requirements of Party A.

 

	
3.3

	
Party A shall provide joint and several liabilities guarantee to the performance of obligations by Party B under all the contracts signed by Party B in the valid period of this Agreement. The shareholders of the Company agree to pledge all their respective equity interests of Party B to Party A for counter-guarantee of the performance of the above-mentioned guarantee and other relevant obligations assumed by Party A. As for the issue of equity pledge, the shareholders of the Company shall sign an Equity Pledge Agreement with Party A.

 

	
4.

	
Entire Agreement and Agreement Modification

 

	
4.1

	
The Agreement and all other mentioned or expressly included agreements and/or documents herein form the entire agreement reached by all parties concerning to the subject matters of the Agreement, and which shall replace all previous verbal and written agreements, contracts, understandings and communications concerning the subject matters of the Agreement by all parties.

 

	
4.2

	
Any modification of the Agreement may only come into effect after signing written agreement by all parties.  The modification agreement and supplement agreement signed by the parties is part of the Agreement, which shall have the same legal effect as the Agreement.

 

	
5.

	
Governing Laws

 

The signing, validity, fulfillment and interpretation, and settlement of disputes is governed and interpreted by the laws of the People’s Republic of China.

 

	
6.

	
Settlement of Disputes

 

	
6.1

	
When disputes occur in the interpretation and fulfillment of the articles under the Agreement, both parties shall try to resolve the disputes through kindly negotiation. For any dispute cannot be settled through consultation, either party may submit the dispute to China International Economic and Trade Arbitration Committee (CIETAC) for arbitration in accordance with the then-current arbitration rules of the Committee in effect.  The place of arbitration is in Beijing, and the language of arbitration is Chinese. The arbitration decision is final decision with binding on both parties.

 

 

  

3

  

 

 

	
6.2

	
Except for the matters with disputes, both parties shall continue to fulfill the obligations of their own in the principle of good faith in accordance with the provisions of the Contract.

 

	
7.

	
Notice

 

The notice of rights and obligation sent by the parties should be made in writing, and with special delivery, registered mail, postage prepaid mail, approved courier services or facsimile form sent to relevant part or the address needs other notice.

 

	
8.

	
Entry into Force, Term of Agreement and Others

 

	
8.1

	
Party A’s written consent, suggestions, designation and other decisions that have important affection on the daily operation of Party B involved in the Agreement shall be made by the board of directors of Party A.

 

	
8.2

	
The Agreement is signed on the agreement date indicated at the beginning of the Agreement and comes into effect thereof. The valid period of this Agreement is 10 years from the effective date, unless Party A terminates this Agreement in advance. If Party A request to extent this Agreement prior to the expiration date of this Agreement, all the parties shall extend the period of this Agreement in compliance with the request of Party A, and further sign a business operation agreement or continue to perform this Agreement in compliance with the request of Party A.

 

	
8.3

	
In the validity term of the Agreement, Party B and the shareholders of the company shall not terminate the Agreement. Party A shall have the right to terminate the Agreement at any time after notifying in writing Party B and the company shareholders 30 days in advance.

 

	
8.4

	
Both parties herein confirm that the Agreement is a fair, reasonable agreement reached by both parties on the basis of equality and mutually benefit. If any term or provision of the Agreement are regarded as invalid or cannot be enforced because of the applicable laws, the term shall be regarded as being eliminated from the Agreement and invalid but the other terms of the Agreement remain valid, and the term shall be regarded as not being included at the very start. Either party shall replace the term being regarded as eliminated with new legal valid term accepted by both parties through negotiation.

 

	
8.5

	
Either party that fails to exercise any right, power or privilege hereunder shall not be treated as abstaining it.  The individual exercise or partial exercise of any right, power or privilege shall not exclude the exercise of any other right, power or privilege.

 

	
8.6

	
The shareholders of the company hereby commit, no matter how the percentage of equities of Party B held by the shareholders of the Company changes, the stipulations of the Agreement shall have binding force on the shareholders of the Company, and shall be applicable to all the equities of Party B held by the shareholders of the company.

 

In witness whereof, both parties hereby render their authorized representatives to sign the Agreement on the date stated at the beginning of the Agreement.

 

 

  

4

  

 

(This is only for signature of Business Cooperation Agreement, with no text)

 

Party A:

(Seal)

Legal representative or authorized representative:/s/ Authorized Person                  

                         (         )

 

 

Party B:

(Seal)

Legal representative or authorized representative:/s/ Authorized Person                  

                       (         )

 

 

Party C: Tian Wenjun

 

/s/ Tian Wenjun                         

 

 

 

Party D: Hao Jianming

 

/s/ Hao Jianming                       

 

 

 

Party E: Yang Jianhui

 

/s/ Yang Jianhui                       

 

 

 

Party F: Zhou Jianbin

 

/s/ Zhou Jianbin                       

 

 

 

Party G: Ren Li

 

/s/ Ren Li                                     

 

 

 

Party H: Ren Yongqing

 

/s/ Ren Yongqing                      

 

 

 

Party I: Zhang Junde

 

/s/ Zhang Junde                         

 

 

 

Party J: Wang Tao

 

/s/ Wang Tao                             

 

 

 5

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