Document:

exhibit10_12.htm

    BARE
TRUST

    

    

    

    The
undersigned, Fabio
Montanari, of Calle Espinosa 702, Jujuy, Argentina,
DECLARES:

    

    1.  
     THAT the interest in 18 common shares (the “Shares”) in the capital of
Incas Mineral, S.A., a company to be incorporated and organized in the
jurisdiction of Argentina, were not purchased with his money and the undersigned
has no beneficial interest in the Shares, either directly or indirectly, but the
Shares are owned by and controlled by the beneficial owner listed in Schedule
“A” attached to this bare trust (the “Owner”) and is held by the
undersigned as Trustee for the Owner, AND THE UNDERSIGNED COVENANTS AND AGREES
to deal with the Shares in such manner as the Owner may from time to time
direct.

    

    2.  
     THAT the undersigned has no rights or privileges in the
Shares and has no interest or claim in any monies arising from the sale or
transfer of the Shares, AND THE UNDERSIGNED COVENANTS AND AGREES to deal with
any of the said rights and privileges and monies that come into his hands in
such manner as the Owner may direct all at the Owner’s expense.

    

    3.           THAT
THE UNDERSIGNED COVENANTS AND AGREES to notify the Owner immediately upon
receiving any notice, information or documents pertaining to the
Shares.

    

    Dated:  July 24,
2007

    

    

    

    ________________________________

      Fabio
Montanari

    

    

    

    Schedule
“A”

    

    Schedule
“A” to the Bare Trust dated July 24, 2007

    with
Fabio Montanari acting as trustee

    

    

    Beneficial
Owner of Shares

    

    
      	
              Beneficial
      Owner

            	
              Address

            	
              Number
      of Shares

            
	
              Soltera
      Mining Corp.

            	
              1005
      – 289 Drake Street

              Vancouver,
      British Columbia, V6B 5Z5, Canada

            	
              18
      commonUnassociated Document

    Execution
      Copy

    

     

    STOCK
      PURCHASE AGREEMENT

     

    BY
      AND
      BETWEEN

     

    RICHARD
      LI

     

    AND

     

    SHANGHAI
      CENTURY ACQUISITION CORPORATION

     

    Dated:
      February 20, 2007

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    STOCK
      PURCHASE AGREEMENT, dated as of February 20, 2008, by and between Richard Li
      (the “Seller”)
      and
      .Shanghai Century Acquisition Corporation, a company formed under the laws
      of
      the Cayman Islands (the “Buyer”).

     

    WITNESSETH:

     

    WHEREAS,
      the Seller owns one hundred (100%) percent of the issued and outstanding shares
      (the “Shares”) of common stock, HK$1.00 par value per share (the “Common
      Stock”), of Asia Leader Investments Limited, a company formed under the laws of
      the Special Administrative Region of Hong Kong (the “Company”); and

     

    WHEREAS,
      the Company has entered into a joint venture agreement dated as of the date
      hereof (the “Joint Venture Agreement”) with RAD International Investment Fund
      Ltd., a company formed under the laws of the Bahamas (“RAD”), providing for the
      establishment of New Goal International Limited, a company formed under the
      laws
      of the Hong Kong Special Administrative Region, to engage in certain financing
      leasing arrangements and other leasing services (the “Joint Venture”);
      and

     

    WHEREAS,
      the Seller wishes to sell to the Buyer, and the Buyer wishes to purchase from
      the Seller, the Shares, upon the terms and subject to the conditions set forth
      herein;

     

    NOW,
      THEREFORE, in consideration of the premises and the mutual agreements and
      covenants hereinafter set forth, the Buyer and the Seller hereby agree as
      follows:

     

    ARTICLE
      I

     

    DEFINITIONS

     

    SECTION
      1.01 Certain
      Defined Terms. As used in this Agreement, the following terms shall have the
      following meanings:

     

    “Action”
      means any claim, action, suit, arbitration, inquiry, proceeding or investigation
      by or before any Governmental Authority.

     

    “Affiliate”
      means, with respect to any specified Person, any other Person that directly,
      or
      indirectly through one or more intermediaries, controls, is controlled by,
      or is
      under common control with, such specified Person.

     

    “Buyer”
      has the meaning specified in the recitals to this Agreement.

     

    “Closing”
      has the meaning specified in Section 2.03.

     

    “Closing
      Date” has the meaning specified in Section 2.03.

     

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

     

    “Common
      Stock” has the meaning specified in the recitals to this Agreement.

     

    “Company”
      has the meaning specified in the recitals to this Agreement.

     

    “Control”
      (including the terms “controlled by” and “under common control with”), with
      respect to the relationship between or among two or more Persons, means the
      possession, directly or indirectly or as trustee or executor, of the power
      to
      direct or cause the direction of the affairs or management of a Person, whether
      through the ownership of voting securities, as trustee or executor, by contract
      or otherwise, including, without limitation, the ownership, directly or
      indirectly, of securities having the power to elect a majority of the board
      of
      directors or similar body governing the affairs of such Person.

     

    “Encumbrance”
      means any security interest, pledge, mortgage, lien (including, without
      limitation, environmental and tax liens), charge, encumbrance, adverse claim,
      preferential arrangement or restriction of any kind, including, without
      limitation, any restriction on the use, voting, transfer, receipt of income
      or
      other exercise of any attributes of ownership.

     

    “Governmental
      Authority” means any central, provincial, or local (in the Peoples’ Republic of
      China, including, for these purposes, the Special Administrative Region of
      Hong
      Kong) or any foreign government, governmental, regulatory or administrative
      authority, agency or commission or any court, tribunal, or judicial or arbitral
      body.

     

    “Governmental
      Order” means any order, writ, judgment, injunction, decree, stipulation,
      determination or award entered by or with any Governmental
      Authority.

     

    “Joint
      Venture” has the meaning specified in the recitals to this
      Agreement.

     

    “Joint
      Venture Agreement” has the meaning specified in the recitals to this
      Agreement.

     

    “Law”
      means any central, provincial, local or foreign statute, law, ordinance,
      regulation, rule, code, order, other requirement or rule of law.

     

    “Liabilities”
      means any and all debts, liabilities and obligations, whether accrued or fixed,
      absolute or contingent, matured or un-matured or determined or determinable,
      including, without limitation, those arising under any Law, Action or
      Governmental Order and those arising under any contract, agreement, arrangement,
      commitment or undertaking.

     

    “Loss”
      has the meaning specified in Section 7.01.

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    “Material
      Adverse Effect” means any circumstance, change in, or effect on the business of
      the Company that, individually or in the aggregate with any other circumstances,
      changes in, or effects on, the business of the Company and : (a) is, or could
      be, materially adverse to the business, operations, assets or Liabilities,
      employee relationships, customer or supplier relationships, prospects, results
      of operations or the condition (financial or otherwise) of the Company or (b)
      could adversely affect the ability of the Buyer or the Company to operate or
      conduct any lawful business. With respect to Section 3.03 only, “Material
      Adverse Effect” means any circumstance, change in, or effect on the business of
      the Seller that, individually or in the aggregate, could adversely affect the
      ability of the Seller to authorize, execute or perform under this Agreement.
      With respect to Section 4.02 only, “Material Adverse Effect” means any
      circumstance, change in, or effect on the business of the Buyer that,
      individually or in the aggregate, could adversely affect the ability of the
      Buyer to authorize, execute or perform under this Agreement.

     

    “Person”
      means any individual, partnership, firm, corporation, association, trust,
      unincorporated organization or other entity, as well as any syndicate or group
      that would be deemed to be a person under Section 13(d)(3) of the Securities
      Exchange Act of 1934, as amended.

     

    “Purchase
      Price” has the meaning specified in Section 2.02.

     

    “RAD”
has
      the meaning set forth in the recitals to this Agreement.

     

    “Seller”
      has the meaning specified in the recitals to this Agreement.

     

    “Shares”
      has the meaning specified in the recitals to this Agreement.

     

    “Stockholder
      Approval” means the approval of a majority of the shareholders present in person
      or by proxy at an extraordinary meeting of the members of the Buyer of the
      acquisition of the Shares as contemplated herein.

     

    “Tax”
or
      “Taxes” means any and all taxes, fees, levies, duties, tariffs, imposts, and
      other charges of any kind (together with any and all interest, penalties,
      additions to tax and additional amounts imposed with respect thereto) imposed
      by
      any government or taxing authority, including, without limitation: taxes or
      other charges on or with respect to income, franchises, windfall or other
      profits, gross receipts, property, sales, use, capital stock, payroll,
      employment, social security, workers' compensation, unemployment compensation,
      or net worth; taxes or other charges in the nature of excise, withholding,
      ad
      valorem, stamp, transfer, value added, or gains taxes; license, registration
      and
      documentation fees; and customs duties, tariffs, and similar
      charges.

     

    
      
        
        

      

      
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    ARTICLE
      II

     

    PURCHASE
      AND SALE

     

    SECTION
      2.01 Purchase
      and Sale of the Shares.
      Upon
      the terms and subject to the conditions of this Agreement, at the Closing,
      the
      Seller shall sell to the Buyer, and the Buyer shall purchase from the Seller,
      free and clear of any Encumbrance the, Shares constituting one hundred (100%)
      percent of the Company’s outstanding capital stock. 

     

    SECTION
      2.02 Purchase
      Price.
      The
      total purchase price for the Shares shall be (i) cash in the amount of
      US$300,000
      in immediately available funds and (ii) the assumption by the Buyer of all
      of
      the Company’s obligations and responsibilities under the Joint Venture
      Agreement, including without limitation the Company’s obligation to make a cash
      capital contribution in an amount up to US$70,000,000 to the Joint Venture
      subject to the terms and conditions of the Joint Venture Agreement (the
“Purchase Price”). 

     

    SECTION
      2.03 Closing.
      Upon the
      terms and subject to the conditions of this Agreement, the sale and purchase
      of
      the Shares contemplated by this Agreement shall take place at a closing (the
      “Closing”) to be held at the offices of the Buyer at 23rd
      Floor,
      Shun Ho Tower, 24-30 Ice House Street, Central Hong Kong at 10:00 A.M. Hong
      Kong
      time on the business day on which the last of the conditions to the obligations
      of the parties set forth in Article VI to be fulfilled on or prior to the
      Closing is satisfied or waived by the relevant party, or at such other place
      or
      at such other time or on such other date as the Seller and the Buyer may agree
      upon in writing (the day on which the Closing takes place being the “Closing
      Date”).
      The
      parties shall ensure that the Closing Date shall be the same date as the
      Contribution Date set forth in Section 3.4 of the Joint Venture
      Agreement.

     

    SECTION
      2.04 Closing
      Deliveries by the Seller.
      At the
      Closing, the Seller shall deliver or cause to be delivered to the
      Buyer:

     

    (a) stock
      certificates evidencing the Shares, duly endorsed in blank, or accompanied
      by
      stock powers duly executed in blank, in form satisfactory to the Buyer and
      with
      all required stock transfer tax stamps affixed;

     

    (b) a
      receipt
      for the Purchase Price; and

     

    (c) the
      opinions, certificates and other documents required to be delivered pursuant
      to
      Section 6.02.

     

    SECTION
      2.05 Closing
      Deliveries by the Buyer.
      At the
      Closing, the Buyer shall deliver to the Seller:

     

    (a) the
      Purchase Price of which US$300,000 shall be wired transferred to the bank and
      account designated by the Seller at least three (3) business days before the
      Closing Date;

     

    (b) a
      joinder
      agreement to the Joint Venture Agreement assuming all obligations of the Company
      thereunder; and

     

    (c) the
      opinions, certificates and other documents required to be
      delivered pursuant to Section 6.01 and certified copies of the legal opinions
      set forth in Section 3.4.1(f) of the Joint Venture Agreement.

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    ARTICLE
      III

     

    REPRESENTATIONS
      AND WARRANTIES

     

    OF
      THE SELLER

     

    As
      an
      inducement to the Buyer to enter into this Agreement, the Seller hereby
      represents and warrants to the Buyer as follows:

     

    SECTION
      3.01 Title
      to the Shares, etc.
      The
      Seller has good and marketable title to the Shares, free and clear of any
      Encumbrance. The Shares have been legally and validly issued are fully paid
      and
      nonassessable. Except pursuant to this Agreement, the Seller has no agreement,
      arrangement, or understanding with respect to the Shares or the Seller’s
      ownership thereof.

     

    SECTION
      3.02 Ownership
      of Joint Venture.
      The
      Company owns, free and clear of any Encumbrance, sixty-seven (67%) percent
      of
      all of the Joint Venture’s issued and outstanding shares and the Joint Venture’s
      ownership interests and, directly or indirectly, such Joint Venture’s tangible
      and intangible assets, brand names, trademarks, distribution networks, patents,
      technology, receivables, inventory and/or contracts.

     

    SECTION
      3.03 No
      Seller Conflict.
      The
      execution, delivery and performance of this Agreement by the Seller do not
      and
      will not (a) conflict with or violate (or cause an event which could have a
      Material Adverse Effect as a result of) any Law or Governmental Order applicable
      to the Seller or any of his assets, properties, or business, or require any
      consent, approval, authorization or other order of, action by, filing with
      or
      notification to any Governmental Authority, or (b) conflict with, result in
      any
      breach of, constitute a default (or event which with the giving of notice or
      lapse of time, or both, would become a default) under, require any consent
      under, or give to others any right of termination, amendment, acceleration,
      suspension, revocation or cancellation of, or result in the creation of any
      Encumbrance on any of the Shares or on any of the assets or properties of the
      Seller. 

     

    SECTION
      3.04 Organization,
      Authority and Qualification of the Company.
      The
      Company is a company duly organized, validly existing and in good standing
      under
      the laws of the Special Administrative Region of Hong Kong and has all necessary
      power and authority to: (a) enter into contracts and agreements into which
      it
      has entered, including without limitation the Joint Venture Agreement, and
      the
      agreements contemplated in the Joint Venture Agreement to which the Company
      is a
      party; and (b) own, operate or lease the properties and assets now owned,
      operated, or leased by it. All corporate actions necessary for the Company
      to
      execute, deliver and implement this Agreement and the Joint Venture Agreement
      have been duly taken by the Company, and the Company has not taken any action
      that in any respect conflicts with, constitutes a default under, or results
      in a
      violation of any provision of its organizational documents, this Agreement
      or
      the Joint Venture Agreement. 

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

    SECTION
      3.05 Capital
      Stock of the Company; Ownership of the Shares. 

     

    (a) The
      authorized capital stock of the Company consists of 10,000 shares of Common
      Stock. As of the date hereof, one (1) share of Common Stock is issued and
      outstanding, which is validly issued, fully paid and nonassessable, and the
      issuance of such share does not violate any preemptive rights. There are no
      options, warrants, convertible securities or other rights, agreements,
      arrangements, or commitments of any character relating to unissued capital
      stock
      of the Company or obligating any Seller or the Company to issue or sell any
      shares of capital stock of, or any other interest in, the Company. There are
      no
      outstanding contractual obligations of the Company to repurchase, redeem or
      otherwise acquire any shares of Common Stock or to provide funds to, or make
      any
      investment (in the form of a loan, capital contribution or otherwise) in, any
      other Person. The Company has not taken any action in respect of any merger,
      consolidation, sale of all or substantially all of its assets, reorganization,
      recapitalization, dissolution, or liquidation, except as contemplated by this
      Agreement. The Shares constitute one hundred (100%) percent of the issued and
      outstanding capital stock of the Company, and, upon consummation of the
      transactions contemplated by this Agreement and registration of the Shares
      in
      the name of the Buyer in the stock records of the Company, the Buyer, assuming
      it shall have purchased the Shares for value in good faith and without notice
      of
      any adverse claim, will own one hundred (100%) percent of the issued and
      outstanding capital stock of the Company. Upon consummation of the transactions
      contemplated by this Agreement, the Shares will be fully paid and nonassessable.
      

     

    (b) The
      stock
      register of the Company accurately records: (i) the name and address of each
      Person owning shares of capital stock of the Company and (ii) the certificate
      number of each certificate evidencing shares of capital stock issued by the
      Company, the number of shares evidenced by each such certificate, the date
      of
      issuance thereof and, in the case of cancellation, the date of
      cancellation.

     

    SECTION
      3.06 Corporate
      Books and Records.
      The
      minute books of the Company contain accurate records of all meetings and
      accurately reflect all other actions taken by the stockholders, Board of
      Directors and all committees of the Board of Directors of the Company. Complete
      and accurate copies of all such minute books and of the stock register of the
      Company have been provided by the Company to the Buyer.

     

    SECTION
      3.07 Full
      Disclosure.
      The
      Seller is not aware of nor does it have any constructive knowledge of any facts
      pertaining to the Company that affect adversely the Company or which are likely
      in the future to affect the Company adversely, except as disclosed in this
      Agreement or otherwise known to the Buyer. No representation or warranty of
      the
      Seller in this Agreement or any statement or certificate furnished or to be
      furnished to the Buyer pursuant to this Agreement, or in connection with the
      transactions contemplated by this Agreement, contains any untrue statement
      of a
      material fact, or omits to state a material fact necessary to make the
      statements contained herein or therein not misleading in light of the
      circumstances under such statements are made or omitted.

     

    
      
        
        

      

      
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    SECTION
      3.08 Limitation
      to the Company.
      The
      representations and warranties by the Seller from Section 3.01 to Section 3.07
      shall not be interpreted to include any representation and warranty in respect
      of the transactions contemplated in the Joint Venture Agreement. The Seller
      shall not rely on the foregoing representations and warranties to make its
      investment into the Joint Venture.

     

    SECTION
      3.09 Brokers.
      No
      broker, finder or investment banker is entitled to any brokerage, finder's
      or
      other fee or commission in connection with the transactions contemplated by
      this
      Agreement based upon arrangements made by or on behalf of the
      Seller.

     

    ARTICLE
      IV

     

    REPRESENTATIONS
      AND WARRANTIES

     

    OF
      THE BUYER

     

    As
      an
      inducement to the Seller to enter into this Agreement, the Buyer hereby
      represents and warrants to the Seller as of the date hereof and as of the
      Closing Date as follows:

     

    SECTION
      4.01 Organization
      and Authority of the Buyer.
      The
      Buyer is a company duly organized, validly existing, and in good standing under
      the laws of the Cayman Islands and has all necessary corporate power and
      authority to execute, deliver, and perform this Agreement. The execution,
      delivery, and performance of this Agreement has been duly authorized by all
      requisite action on the part of the Buyer. This Agreement shall have been duly
      executed and delivered by the Buyer, and (assuming due authorization, execution,
      and delivery by each other party thereto) constitutes a legal, valid, and
      binding obligation of the Buyer enforceable against the Buyer in accordance
      with
      its terms.

     

    SECTION
      4.02 No
      Conflict.
      The
      execution, delivery and performance of this Agreement by the Buyer do not and
      will not (a) violate, conflict with or result in the breach of any provision
      of
      the charter, bylaws, or similar organizational documents of the Buyer, (b)
      conflict with or violate any Law or Governmental Order applicable to the Buyer
      or require any consent, approval, authorization, or other order of, action
      by,
      filing with, or notification to any Governmental Authority, or (c) conflict
      with, or result in any breach of, constitute a default (or event which with
      the
      giving of notice or lapse or time, or both, would become a default) under,
      require any consent under, or give to others any rights of termination,
      amendment, acceleration, suspension, revocation, or cancellation of, or result
      in the creation of any Encumbrance on any of the assets or properties of the
      Buyer that would have a Material Adverse Effect on the ability of the Buyer
      to
      consummate the transactions contemplated by this Agreement, assuming in the
      case
      of the foregoing clauses (a) and (c) that the receipt of the Stockholder
      Approval shall have been obtained prior to the consummation of the purchase
      of
      the Shares.

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

     

    SECTION
      4.03 Investment
      Purpose.
      The
      Buyer is acquiring the Shares solely for the purpose of investment and not
      with
      a view to, or for offer or sale in connection with, any distribution
      thereof.

     

    SECTION
      4.04 Brokers.
      No
      broker, finder or investment banker is entitled to any brokerage, finder's
      or
      other fee or commission in connection with the transactions contemplated by
      this
      Agreement based upon arrangements made by or on behalf of the
      Buyer.

     

    SECTION
      4.05 Due
      Diligence.
      The
      Buyer
      has done its own due diligence of the Company and the Joint Venture including
      without limitation review and full understanding of the terms and conditions
      of
      the Joint Venture Agreement and the transactions contemplated therein, which
      Joint Venture Agreement is to be entered into by the parties thereto
      simultaneously with the signature of this Agreement.

     

    ARTICLE
      V

     

    ADDITIONAL
      AGREEMENTS

     

    SECTION
      5.01 Conduct
      of Business Prior to the Closing.
      The
      Seller covenants and agrees, that, between the date hereof and the time of
      the
      Closing, the Company shall not conduct any business, except to consummate the
      transactions contemplated by this Agreement and the Joint Venture Agreement
      or
      as required to comply with applicable law, rule or regulation. Without
      limitation, since January 1, 2008:

     

    (a) except
      to
      consummate the transactions contemplated by the Agreement and the Joint Venture
      Agreement, the Company has not incurred and shall not incur any liability or
      commitment or any contingent liability or commitment (whether due before or
      after the Closing) or become party to any agreement; and 

     

    (b) except
      for the Shares, the Company has not issued and shall not issue prior to the
      Closing or the termination of this Agreement any capital stock.

     

    
      
        
        

      

      
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    SECTION
      5.02 Exclusivity;
      Confidentiality; Cooperation.
      Until
      the Closing or termination of this Agreement:

     

    (a) The
      Seller shall not suffer or permit his employees, representatives, agents,
      investment bankers, advisors, accountants, attorneys or Affiliates to initiate
      or solicit, directly or indirectly, any inquiries or the making of any offer
      or
      proposal that constitutes or would be reasonably expected to lead to a proposal
      or for a stock purchase, asset acquisition, merger, consolidation or other
      business combination involving the Company or the Joint Venture, any proposal
      to
      acquire in any manner a direct or indirect substantial equity interest in,
      or
      all or any substantial part of the assets of, the Company or the Joint Venture
      (an “Alternative Proposal”) from any person and/or entity, or engage in
negotiations
      or discussions relating thereto or accept any Alternative Proposal, or make
      or
      authorize any statement, recommendation or solicitation in support of any
      Alternative Proposal. Seller shall notify the Buyer orally and in writing of
      the
      receipt of any such inquiries, offers or proposals (including the terms and
      conditions of any such offer or proposal, the identity of the person and/or
      entity making it and a copy of any written Alternative Proposal), as promptly
      as
      practicable and in any event within 48 hours after the receipt thereof, and
      shall keep the Buyer informed of the status and details of any such inquiry,
      offer or proposal. Seller shall immediately terminate any existing solicitation,
      activity, discussion or negotiation with any person and/or entity hereafter
      conducted by them or by any officer, employee, director, stockholder or other
      representative thereof with respect to the foregoing.

     

    (b) except
      in
      connection with the public filings of the Buyer in accordance with the
      securities laws and regulations of the United States or in the press releases
      and public announcements to be made by the Buyer or in connection with any
      dispute between the parties and subject to any obligation to comply with (i)
      any
      applicable law, (ii) any rule or regulation of any Governmental Entity or
      securities exchange, or (iii) any subpoena or other legal process to make
      information available to the persons entitled thereto, whether or not the
      transactions contemplated herein shall be concluded, all information obtained
      by
      any party about any other, and all of the terms and conditions of this
      Agreement, shall be kept in confidence by each party, and each party shall
      cause
      its stockholders, directors, officers, managers, employees, agents and attorneys
      to hold such information confidential. Such confidentiality shall be maintained
      to the same degree
      as
      such party maintains its own confidential information and shall be maintained
      until such time, if any, as any such data or information either is, or becomes,
      published or a matter of public knowledge; provided, however, that the foregoing
      shall not apply to any information obtained by a party through its own
      independent investigations of the other party or received by a party from a
      source not known by such party to be bound by a confidentiality agreement with,
      or other contractual, legal or fiduciary obligation of confidentiality to,
      the
      other party, nor to any information obtained by a party which is generally
      known
      to others engaged in the trade or business of such party. In the event a party
      to this Agreement becomes legally compelled to disclose any such information,
      it
      shall promptly provide the others with written notice of such requirement so
      that the other parties to this Agreement may seek a protective order or other
      remedy. If this Agreement shall be terminated for any reason, the parties shall
      return or cause to be returned to the others all written data, information,
      files, records and copies of documents, worksheets and other materials obtained
      by such parties in connection with this Agreement.

     

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

     

    (c) Each
      of
      the parties shall use reasonable efforts to cause the satisfaction of the
      conditions to the obligation of the other parties to consummate the transactions
      contemplated by this Agreement and otherwise to cause the Closing to occur,
      including in making all required filings with or obtaining any approval from
      all
      required Government Authorities and notices to or obtaining required consents
      of
      other third parties. In this regard, Seller will cooperate and cause the Company
      and its professionals to cooperate with Buyer to facilitate Buyer’s legal,
      financial, and operational due diligence of the Company and the Joint
      Venture.

     

    SECTION
      5.03 Public
      Disclosure.
      Until
      the Closing or termination of this Agreement, only the Buyer shall be permitted
      to make any press release or otherwise making any public statement or making
      any
      other public (or non-confidential) disclosure (whether or not in response to
      an
      inquiry) regarding the terms of this Agreement and the transactions contemplated
      hereby, except the Buyer shall use its commercially reasonable efforts to advise
      the Seller before issuing such press release or making such public statement
      or
      disclosure.

     

    ARTICLE
      VI

     

    CONDITIONS
      TO CLOSING

     

    SECTION
      6.01 Conditions
      to Obligations of the Seller.
      The
      obligations of the Seller to consummate the transactions contemplated by this
      Agreement shall be subject to the fulfillment or waiver by the Seller, at or
      prior to the Closing, of each of the following conditions:

     

    (a) Representations,
      Warranties and Covenants.
      The
      representations and warranties of the Buyer contained in this Agreement shall
      have been true and correct when made and shall be true and correct in all
      material respects as of the Closing, with the same force and effect as if made
      as of the Closing Date; the Buyer shall have performed all obligations under
      this Agreement required to be performed by it as of the Closing; and the Seller
      shall have received a certificate from the Buyer to such effect signed by a
      duly
      authorized officer thereof;

     

    (b) No
      Proceeding or Litigation.
      No
      Action shall have been commenced by or before any Governmental Authority against
      any Seller, the Company, or the Buyer, seeking to restrain or materially and
      adversely alter the transactions contemplated by this Agreement that, in the
      reasonable, good faith determination of the Seller, is likely to render it
      impossible or unlawful to consummate such transactions.

     

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

     

    
      (c)Resolutions.
        The
        Seller shall have received a true and complete copy, certified by a director
        of
        the Buyer, of the resolutions duly and validly adopted by the Board of Directors
        of the Buyer evidencing its authorization of the execution, delivery, and
        performance of this Agreement.

    

     

    (d) Purchase
      Price.
      The
      Seller shall have received the US$300,000 from the Buyer and a certificate
      signed by a duly authorized director of the Buyer that the Buyer assumes of
      the
      Company’s obligations and responsibilities under the Joint Venture
      Agreement.

     

    (e) Board
      of Directors of the Buyer.
      Kevin
      Ma and the Buyer shall have agreed on the initial directors of the Board of
      the
      Buyer.

     

    SECTION
      6.02 Conditions
      to Obligations of the Buyer.
      The
      obligations of the Buyer to consummate the transactions contemplated by this
      Agreement shall be subject to the fulfillment or the waiver by the Buyer, at
      or
      prior to the Closing, of each of the following conditions:

     

    (a) Representations,
      Warranties, and Covenants.
      The
      representations and warranties of the Seller contained in this Agreement shall
      have been true and correct when made and shall be true and correct as of the
      Closing with the same force and effect as if made as of the Closing; the Seller
      and the Company shall have performed all obligations under this Agreement
      required to be performed by it as of the Closing and the Company shall have
      performed all obligations under the Joint Venture Agreement as of the
      Closing.

     

    (b) No
      Proceeding or Litigation.
      No
      Action shall have been commenced or threatened by or before any Governmental
      Authority against the Seller or the Company seeking to restrain or materially
      and adversely alter the transactions contemplated hereby or the transactions
      contemplated in the Joint Venture Agreement which the Buyer believes, in its
      reasonable, good faith determination, is likely to render it impossible or
      unlawful to consummate the transactions contemplated by this Agreement or that
      could have a Material Adverse Effect.

     

    (c) Consents
      and Approvals.
      The
      Buyer, the Company, and the Seller shall have received or made, each in form
      and
      substance satisfactory to the Buyer in its reasonable, good faith determination
      all required filings and approvals from all Government Authorities and notices
      to or required consents of any other third parties (including the Stockholder
      Approval) that the Buyer shall deem appropriate for the consummation of the
      transactions contemplated by this Agreement.

     

    (d) Resignations.
      The
      Buyer shall have received the resignations, effective as of the Closing, of
      all
      the directors and officers of the Company, except for such persons as Buyer
      shall have designated, and such persons as Buyer shall have designated shall
      have been elected as directors and officers of the Company, to be effective
      as
      of the Closing.

     

    
      
        
        

      

      
        11

        
          

        

      

      
        
        

      

    

     

    (e) Organizational
      Documents.
      The
      Buyer shall have received a copy of the Memorandum and Articles of Association,
      as amended (or similar organizational documents), of the Company and accompanied
      by a certificate of the Secretary or Assistant Secretary of such entity, dated
      as of the Closing Date, stating that no amendments have been made to such
      Memorandum and Articles of Association (or similar organizational documents)
      since such date. 

     

    (f) Minute
      Books.
      The
      Buyer shall have received a copy of the minute books and stock register of
      the
      Company, certified by a Secretary or Assistant Secretary of the Company as
      of
      the Closing Date;

     

    (g) Good
      Standing; Qualification to Do Business.
      The
      Company shall use its reasonable best efforts to obtain good standing
      certificates for the Company from the responsible official of the jurisdiction
      in which such entity is incorporated or organized and from the responsible
      official in each other jurisdiction in which the properties owned or leased
      by
      the Company, or the operation of its business in such jurisdiction, requires
      the
      Company to qualify to do business as a foreign corporation as applicable, in
      each case dated not more than thirty (30) days before the Closing
      Date.

     

    (h) No
      Material Adverse Effect.
      No
      event or events shall have occurred, or be reasonably likely to occur, which,
      individually or in the aggregate, have, or could have, a Material Adverse
      Effect.

     

    (i) Employment
      Agreements.
      The
      Buyer shall have received the duly executed original of the employment agreement
      between Kevin Ma and Shanghai Century Acquisition Corporation substantially
      in
      the form of Exhibit A and an executed employment agreement between Vincent
      Chan
      and Shanghai Century Acquisition Corporation.

     

    (j) Option
      to Purchase. The
      Buyer
      shall have received the duly executed original of the Company’s notice to RAD
      dated on or before the Closing Date to exercise its option to purchase all
      of
      RAD’s shares of the Joint Venture.

    

    (k) Resolutions.
      The
      Buyer shall have received a true and complete copy, certified by a director
      of
      the Seller, of the resolutions duly and validly adopted by the Board of
      Directors of the Seller evidencing its authorization of the execution, delivery,
      and performance of this Agreement.

    

    (l) Opinion.
      The
      Buyer shall have received from Hong Kong counsel to the Seller a legal opinion
      addressed to the Buyer with respect to Hong Kong legal matters in form and
      substance reasonably satisfactory to the Buyer and its counsel dated the Closing
      Date.
      

     

    
      
        
        

      

      
        12

        
          

        

      

      
        
        

      

    

     

    ARTICLE
      VII

    

    INDEMNIFICATION

     

    SECTION
      7.01 Indemnification. The
      Seller will indemnify and hold the Buyer and its directors, officers, employees
      and consultants harmless from any and all losses, liabilities, obligations,
      claims, contingencies, damages, costs and expenses, including all judgments,
      amounts paid in settlements, court costs and reasonable attorneys’ fees and
      costs of investigation that any such party may suffer or incur as a result
      of or
      relating to any breach of any of the representations, warranties, covenants
      or
      agreements made by him in this Agreement. Notwithstanding the foregoing, the
      maximum and sole liability of the Seller under this Section 7.02 and this
      Agreement shall be a full refund to the Buyer of the Purchase Price of
      US$300,000. 

     

    ARTICLE
      VIII

     

    TERMINATION
      AND WAIVER

     

    SECTION
      8.01 Termination.
      Without
      limiting any other remedy available to any party, this Agreement may be
      terminated at any time prior to the Closing:

     

    (a) by
      the
      Buyer, if there shall be or have been any breach of any representation,
      warranty, or covenant made in this Agreement by the Seller or any condition
      in
      Section 6.02 shall not have been satisfied as of the Closing;

     

    (b) by
      the
      Seller if there shall be or have been any breach of any representation,
      warranty, or covenant made in this Agreement by the Buyer or any condition
      in
      Section 6.01 shall not have been satisfied as of the Closing;

     

    (c) by
      either
      party not at fault, if the Closing shall not have occurred by April 28,
      2008.

     

    SECTION
      8.02 Effect
      of Termination.
      If this
      Agreement is terminated, no party will have any liability or further obligation
      to any other party to the Agreement, except for any liability arising out of
      any
      knowing, willful or fraudulent breach of this Agreement prior to such
      termination.

     

    ARTICLE
      IX

     

    GENERAL
      PROVISIONS

     

    SECTION
      9.01 Expenses.
      Except
      as otherwise specified in this Agreement, all costs and expenses, including,
      without limitation, fees and disbursements of counsel, financial advisors and
      accountants, incurred in connection with this Agreement and the transactions
      contemplated hereby shall be paid by the Buyer, whether or not the Closing
      shall
      have occurred. In addition, in the event the Seller is obligated under terms
      and
      conditions of the Joint Venture Agreement to pay a non-performance fee to RAD
      pursuant to Section 10.6 of the Joint Venture Agreement due to the failure
      of
      the cash capital contribution of the Company set forth in Section 3.1.1 to
      be
      made prior to April 30, 2008 and regardless of whether the Closing shall have
      place in respect of this Agreement or this Agreement shall have been terminated
      pursuant to Section 8.01, then Buyer shall be directly responsible for the
      payment of such non-performance fee to RAD.
      Buyer’s
      obligation in the preceding sentence relating to the fee payable to RAD is
      subject to the factual basis for the payment having become due being unrelated
      to the failure of Seller to observe his obligations hereunder or the Company
      under the Joint Venture Agreement. This Section 9.01 shall survive termination
      of this Agreement.

     

    
      
        
        

      

      
        13

        
          

        

      

      
        
        

      

    

     

    SECTION
      9.02 Notices.
      All
      notices, requests, claims, demands and other communications hereunder shall
      be
      in writing and shall be given or made (and shall be deemed to have been duly
      given or made upon receipt) by delivery in person, by courier service, by cable,
      by telecopy, by telegram, by telex or by registered or certified mail (postage
      prepaid, return receipt requested) to the respective parties at the following
      addresses (or at such other address for a party as shall be specified in a
      notice given in accordance with this Section 9.02) :

     

    (a) if
      to the
      Seller:

     

    Richard
      Li

    Shunyi
      Qu, Tianzhu, Liyuan Street

    Rits
      Garden 2012, Beijing 101312

    

    Fax:
      (010) 6450 9420

    

    (b) if
      to the
      Buyer:

     

    Shanghai
      Century Acquisition Corporation

    23rd
      Floor,
      Shun Ho Tower

    24-30
      Ice
      House Street

    Central
      Hong Kong 

    Fax:
      (852) 2851-9088

    Attention:
      Franklin D. Chu, Co-Chief Executive Officer

    

    SECTION
      9.03 Public
      Announcements.
      Subject
      to Section 5.03, no party to this Agreement shall make, or cause to be made,
      any
      press release or public announcement in respect of this Agreement or the
      transactions contemplated hereby or otherwise communicate with any news media
      without the prior written consent of the other party. 

     

    SECTION
      9.04 Headings.
      The
      descriptive headings contained in this Agreement are for convenience of
      reference only and shall not affect in any way the meaning or interpretation
      of
      this Agreement.

     

    SECTION
      9.05 Severability.
      If any
      term or other provision of this Agreement is invalid, illegal or incapable
      of
      being enforced by any Law or public policy, all other terms and provisions
      of
      this Agreement shall nevertheless remain in full force and effect so long as
      the
      economic or legal substance of the transactions contemplated hereby is not
      affected in any manner materially adverse to any party. Upon such determination
      that any term or other provision is invalid, illegal or incapable of being
      enforced, the parties hereto shall negotiate in good faith to modify this
      Agreement so as to effect the original intent of the parties as closely as
      possible in an acceptable manner in order that the transactions contemplated
      hereby are consummated as originally contemplated to the greatest extent
      possible.

     

    
      
        
        

      

      
        14

        
          

        

      

      
        
        

      

    

     

    SECTION
      9.06 Entire
      Agreement.
      This
      Agreement constitutes the entire agreement of the parties hereto with respect
      to
      the subject matter hereof and thereof and supersede all prior agreements and
      undertakings, both written and oral, between the Seller and the Buyer with
      respect to the subject matter hereof and thereof.

     

    SECTION
      9.07 Assignment.
      This
      Agreement may not be assigned by operation of law or otherwise without the
      express written consent of the Seller and the Buyer (which consent may be
      granted or withheld in the sole discretion of the Seller or the Buyer);
      provided, however, that the Buyer may assign this Agreement to an Affiliate
      of
      the Buyer without the consent of the Seller provided that any such assignee
      shall become a party to this Agreement and make the representations of the
      Buyer
      contained herein on or prior to the effective date of such
      assignment.

     

    SECTION
      9.08 No
      Third Party Beneficiaries.
      This
      Agreement shall be binding upon and inure solely to the benefit of the parties
      hereto and their permitted assigns and nothing herein, express or implied,
      is
      intended to or shall confer upon any other Person any legal or equitable right,
      benefit or remedy of any nature whatsoever under or by reason of this
      Agreement.

     

    SECTION
      9.09 Amendment.
      This
      Agreement may not be amended or modified except by an instrument in writing
      signed by, or on behalf of the parties hereto.

     

    SECTION
      9.10 Governing
      Law.
      This
      Agreement shall be governed by, and construed in accordance with, the laws
      of
      the State of New York without giving effect to any principles of conflicts
      of
      laws that would result in the application of the law of any other
      jurisdiction.

     

    SECTION
      9.11 Dispute
      Resolution.
      Any
      dispute arising out of or in connection with this Agreement shall be finally
      settled by arbitration under the Rules of the Hong Kong International
      Arbitration Centre (the “Arbitration Centre”) by three (3) arbitrators appointed
      as follows: one (1) arbitrator shall be appointed by the Seller, one (1)
      arbitrator shall be appointed by the Buyer and the third arbitrator shall be
      appointed jointly by the two arbitrators appointed by the Seller and the Buyer.
      If such two arbitrators fail to appoint the third arbitrator within thirty
      (30)
      days, then such third arbitrator shall be appointed by the chairman of the
      Arbitration Centre. The place of arbitration shall be in Hong Kong. The
      arbitration shall be conducted in English. The arbitration awards shall be
      final
      and binding upon the parties. The costs of the arbitration proceeding and any
      proceeding in court to confirm or to vacate any arbitration award, as applicable
      (including each party’s attorneys’ fees and costs), shall be borne by the
      unsuccessful party or, at the discretion of the arbitrators, may be prorated
      between the parties in such proportion as the arbitrators determine to be
      equitable and shall be awarded as part of the arbitrators’ award.

     

    
      
        
        

      

      
        15

        
          

        

      

      
        
        

      

    

    

    SECTION
      9.12  Counterparts.
      This
      Agreement may be executed in one or more counterparts, and by the different
      parties hereto in separate counterparts, each of which when executed shall
      be
      deemed to be an original but all of which taken together shall constitute one
      and the same agreement.

    

    SECTION
      9.13 Specific
      Performance.
      The
      parties hereto agree that irreparable damage would occur in the event any
      provision of this Agreement was not performed in accordance with the terms
      hereof and that the parties shall be entitled to specific performance of the
      terms hereof, in addition to any other remedy at law or equity.

     

    
      
        
        

      

      
        16

        
          

        

      

      
        
        

      

    

     

    IN
      WITNESS WHEREOF, the Seller and the Buyer have caused this Agreement to be
      executed as of the date first written above by their respective officers
      thereunto duly authorized.

     

    
      	
            
	 	/s/
              Richard Li
	 	
              RICHARD
                LI

            
	 	 	 
	 	SHANGHAI
              CENTURY
              ACQUISITION CORPORATION
	 
 	 
 	 
 
	
            	By 	
              /s/
                Franklin Chu

            
	 	
              Name: 

            	Franklin Chu
	 	Title:	
              Co-Chief
                Executive Officer 

            

    

     

    
      
        
        

      

      
        17

        
          

        

      

      
        
        

      

    

     

    EXHIBIT
      A

    

    FORM
      OF EMPLOYMENT AGREEMENT BETWEEN KEVIN MA

    AND
      SHANGHAI CENTURY ACQUISITION CORPORATION

     

    
      
        
        

      

      
        18

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