Document:

ex10_4.htm

    Exhibit
10.4

    

    Amendment

    Dated
as of July 9, 2009

    to

    Receivables
Sale Agreement

    Dated
as of July 1, 2005

     

    This
Amendment (the “Amendment”), dated as of
July 9, 2009, is entered into among Kansas City Power & Light
Receivables Company (the “Seller”), Kansas City Power
& Light Company (the “Initial Collection Agent”),
Victory Receivables Corporation (the “Purchaser”), The Bank of
Tokyo-Mitsubishi UFJ, Ltd., New York Branch (formerly known as The Bank of
Tokyo-Mitsubishi, Ltd., New York Branch), as agent for the Purchaser (the “Agent”).

     

    Reference
is hereby made to that certain Receivables Sale Agreement, dated as of
July 1, 2005 (as amended, supplemented or otherwise modified through the
date hereof, the “Sale
Agreement”), among the Seller, the Initial Collection Agent, the
Purchaser and the Agent.  Terms used herein and not otherwise defined
herein which are defined in the Sale Agreement or the other Transaction
Documents (as defined in the Sale Agreement) shall have the same meaning herein
as defined therein.

     

    For good
and valuable consideration, the receipt and adequacy of which are hereby
acknowledged, the parties hereto hereby agree as follows:

     

        Section 1.   Upon execution by
the parties hereto in the space provided for that purpose below, the Sale
Agreement shall be, and it hereby is, amended as follows:

     

        (a)  Section 1.2(b) of the
Sale Agreement is hereby amended by deleting the last sentence appearing
therein, in its entirety.

     

        (b)  Clause (a) of the defined
term “Defaulted
Receivable” appearing in Schedule I of the Sale Agreement is hereby
amended in its entirety and as so amended shall read as follows:

     

      (a)  on which any
amount is unpaid more than 90 days past its invoice date

     

        (c)  The defined term “Dilution Reserve” appearing
in Schedule I of the Sale Agreement is hereby amended in its entirety and
as so amended shall read as follows:

     

    “Dilution Reserve” means (i)
two (2) times the highest three consecutive month average Dilution Ratio
(expressed as a decimal) over the last twelve (12) calendar months multiplied by
(ii) the Eligible Receivables Balance.

     

        (d)  The references to “1.0%” appearing in the
defined term “Discount
Rate” appearing in Schedule I of the Sale Agreement are hereby
amended to read as “2.0%.”

    
 

    
      
        

      

     

        (e)  The reference to “2” appearing in clause (b)
of the defined term “Loss
Reserve” appearing in Schedule I of the Sale Agreement is hereby amended
to read as “3.”

     

        (f)  The defined term “Purchase Limit” appearing in
Schedule I of the Sale Agreement is hereby amended in its entirety and as
so amended shall read as follows:

     

                “Purchase
Limit” means $95,000,000.

     

        (g)  The defined term “Seasonal Period” appearing
in Schedule I of the Sale Agreement is hereby deleted in its
entirety.

     

        (h)  Clause (d) of the defined
term “Termination Date”
appearing in Schedule I of the Sale Agreement is hereby amended in its
entirety and as so amended shall read as follows:

     

                (d)  July 8, 2010.

     

        (i)  Clause (n) of the defined
term “Termination
Event” appearing in Schedule I of the Sale Agreement is hereby
deleted in its entirety.

     

        Section 2. 
The Sale Agreement, as amended and supplemented hereby or as contemplated
herein, and all rights and powers created thereby and thereunder or under the
other Transaction Documents and all other documents executed in connection
therewith, are in all respects ratified and confirmed.  From and after
the date hereof, the Sale Agreement shall be amended and supplemented as herein
provided, and, except as so amended and supplemented, the Sale Agreement, each
of the other Transaction Documents and all other documents executed in
connection therewith shall remain in full force and effect.

     

        Section 3. 
This Amendment shall become effective once the Agent receives
(i) executed counterparts hereof, (ii) a renewal fee described in the
First Amendment to Amended and Restated Fee Letter and (iii) executed
counterparts to the First Amendment to Amended and Restated Fee
Letter.

     

        Section 4. 
This Amendment may be executed in two or more counterparts, each of which shall
constitute an original but both or all of which, when taken together, shall
constitute but one instrument.

     

        Section 5. 
This Amendment shall be governed by and construed in accordance with the
internal laws of the State of New York.

    
 

    -2-

    
      
        

      

     

    In
Witness Whereof, the parties have caused this Amendment to be executed and
delivered by their duly authorized officers as of the date first above
written.

    

    
      	 
      	
              The
      Bank of Tokyo-Mitsubishi UFJ, Ltd.,

              New
      York Branch, as the Agent

              By:    /s/
      Ichinari Matsui

              Title:
      SVP & Group Head

               

            
	 
      	 
      
	 
      	
              Victory
      Receivables Corporation

              By:     /s/
      Louise E. Colby

              Title:  Vice
      President

               

            
	 
      	 
      
	 
      	
              Kansas
      City Power & Light Receivables Company

              By:     /s/
      James P. Gilligan

              Title:  President

               

            
	 
      	 
      
	 
      	
              Kansas
      City Power & light Company

              By:     /s/
      Michael W. Cline

              Title:  Vice
      President – Investor Relations and

                         Treasurer

               

            

    

    

    

    

    

    -3-Exhibit
10.1

    

    Consigned
Management and Technology Service Agreement

    

    by
and among

    

    Qingdao
Niao Bio-Technology Ltd.

    

    NeoStem
(China), Inc.

    

    and

    

    The
Shareholder of Qingdao Niao Bio-Technology Ltd.

    

    June
1, 2009

    
       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      Consigned
Management and Technology Service Agreement 

        
          

        

         

      

    

    Consigned
Management and Technology Service Agreement

    

    This
Consigned Management and Technology Service Agreement (“this Agreement”) is
entered into on June 1, 2009 between the following Parties:

    

    
      	
              (1)

            	
              Qingdao Niao Bio-Technology
      Ltd. (“Party A”) is a limited liability company, duly incorporated
      in Qingdao City, People’s Republic of China (“PRC”) whose legal address
      is: Room 501, Unit 2 Building 1, No.17 YinChuanDong Road, Laoshan
      District, Qingdao City. 

            

    

    

    
      	
              (2)

            	
              NeoStem (China), Inc.
      (“Party B”), is a wholly foreign owned enterprise (“WFOE”) and duly
      incorporated under PRC Laws, whose registered address is Room 0425A,
      Building C, No.6 XiangGangZhong Road, Shinan District, Qingdao
      City.

            

    

    

    
      
        	
                (3)

              	
                Sole shareholder of Qingdao
      Niao Bio-Technology Ltd. (the
  “Shareholder”)

              

      

    

    

    
      
        
          
            
              
                
                  
                    
                      
                        	
                                Name
      of the

                                Shareholder

                              	 	
                                Shareholding

                                Ratio
      (%)

                              	 	
                                ID
      Card No.

                              	 	
                                Contact
      Address

                              	 
	
                                Liu
      Hongbing

                              	 	
                                100

                              	 	 	 	
                                Room
      102, Unit 4 Building 6, No.138 Huaneng Road, Licheng District, Ji’nan
      City

                              	 

                      

                    

                  

                

              

            

          

        

      

    

    

    (Party A,
Party B and the Shareholder are referred to collectively in this agreement as
the “Parties” or “the Parties”, and individually as “a Party” or “each
Party”.)

    

    WHEREAS:

    

    
      	
              (1)

            	
              Party
      A’s business scope is as follows: the research & development, transfer
      and consultation of biological cell technology, gene technology and
      regenerative medical technology (The aforesaid business scope should be
      operated with relevant permits if such permits are
    required.);

            

    

    

    
      	
              (2)

            	
              Party
      B’s business scope is 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);

            

    

     

    
      
        
        

      

      
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Management and Technology Service Agreement 

        
          

        

         

      

    

    
      	
              (3)

            	
              The
      Parties agree that, Party A consigns Party B to manage all its business
      and human resources, etc., and engages Party B to provide technology
      services such as the update and maintenance of internal software and
      hardware, technology training and technology
  support;

            

    

    

    
      	
              (4)

            	
              The
      Shareholder holds 100% of equity interests of Party
  A.

            

    

    

    NOW
THEREFORE, the Parties
hereby agree through friendly negotiation as follows:

    

    Article
1 Definition

    

    1.1 “PRC”
refers to the People’s Republic of China, for the purpose of this Agreement,
excluding the Hong Kong 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 “RMB”
refers to the legal currency within the PRC;

    1.4
“Party A Staff” refers to the senior management staff of Party A and the manager
of each plant;

    1.5
“Consigned Management and Technology Service Fee” or “Consideration” refers to
the consideration as defined in Article 3.1 and paid to Party B by Party
A.

    

    Article
2 Contents of Consigned Management and Technology Services

    

    2.1
Contents of Consigned Management Services

    

    2.1.1
Business Management Services

    

    2.1.1.1
Target

    

    Provide
services on management and staff training so as to enhance the professional
management and eventually promote economic achievement of Party A.

    

    2.1.1.2
Contents

    

    (1)
Training to Party A Staff

    A. Latest
biotech industry knowledge training

    B.
Related operating methods and skills training

    C.
Preserve and maintenance of equipments training

    D.
Management principals and skills training

    

    (2)
Business Management

    A.
Procedure management

     

    
      
        
        

      

      
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    B.
Operation and technology management

    C.
Equipment management

    D. Field
management

    E.
Quality management

    F. Sales
and Marketing management

    G.
Service management

    

    2.1.2
Advertising and Development Services

    

    
         2.1.2.1
Target

    

    

    Improve
the economic benefits of the Company, ensure the healthy development of the
Company, improve the fame of the Company, establish the image of the Company,
gain the good reputation, contribute to the public welfare, and expand the
popularity of the Company.

    

       2.1.2.2
Contents of Service

    

    (1)
Advertising Services

    A.
Products planning

    B. Price
planning

    E. Sales
planning

    F.
Advertising planning

    G.
Marketing planning

    H.
Promotion planning

    I. Public
relation planning

    J. Brand
planning

    K.
Corporate image planning

    

    (2)
Development Services

    
      	 	
              A.

            	
              Conduct
      research on the market and provide suggestions on the selection of
      location and layout of new
businesses;

            

    

    
      	
            	
              B.

            	
              Conduct
      research on the impressions of customers, and provide suggestions for
      perfection of customer services in accordance with the results of that
      research.

            

    

    
      
        	
              	
                C.

              	
                Conduct
      research on the potential cooperative partners, and provide suggestions
      for business expansion and cooperation development in accordance with the
      results of that research.

              

      

    

    

    2.1.3
Human Resources Management Services

    

    
      2.1.3.1
Target: Achieve the proper distribution of human resources, maintain the
stability of the management team, and stimulate the employees to positively work
so as to increase the economic achievement.

    

    

    
      
        
        

      

      
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    2.1.3.2
Contents of Service

    

    
      	
               
      

            	
              (1)

            	
              Recommend
      and nominate the candidates of senior management staff of Party A, and
      Party A shall appoint such candidates in accordance with the requirement
      of the position;

            

    

    
      
        	 	
                (2)

              	
                Facilitate
      to perfect the organizational structure to improve the effects of the
      management;

              

      

    

    
      	
               
      

            	
              (3)

            	
              Establish
      the labor management system for Party A, including, but without
      limitation, employment policies, training, systems of leaves and
      vocations, overtime working, resignation, demission and
    etc.;

            

    

    
      	
               
      

            	
              (4)

            	
              Complete
      the employees’ salary system including its senior management
      staff;

            

    

    
      	
               
      

            	
              (5)

            	
              Facilitate
      to complete the working effectiveness assessment system of the employees
      and perfect the salary incentive
system;

            

    

    
      	
               
      

            	
              (6)

            	
              Provide
      training of labor management in the human resources department of Party
      A;

            

    

    
      	
               
      

            	
              (7)

            	
              Provide
      consultancy services to Party A in relation to the labor policies and
      social insurance;

            

    

    
      	
               
      

            	
              (8)

            	
              Facilitate
      Party A to standardize the management of human resources and establishment
      of related system.

            

    

    

    2.1.4
Internal Control Services

    

    Party B
shall assist Party A to establish internal control system and provide the proper
suggestions on the following systems:

    

    (1) Rules
for stamp usage

    (2) Rules
for receipts and checks

    (3) Rules
of budgeting management

    (4)
Assets management system

    (5)
Quality management system

    (6)
Authorization and agency system

    

    2.2
Contents of Technology Services

    

    
      2.2.1
Select, purchase and update the proper software in accordance with practical
requirements of Party A with respect to human resources and business management,
etc., and conduct training on the use of such software, and provide relevant
consulting services.

    

    

    
      2.2.2
Assist with other related systems and software in accordance with the specific
requirements of Party A, and the relative costs shall be borne by Party
A.

    

     

    
      
        
        

      

      
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      2.2.3 If
necessary, seek qualified network service companies to provide services to Party
A with respect to its application for the domain name and design of website,
assist Party A in communication with the network service company on matters
relating to the domain name and website.

    

    

    
      2.2.4
Assist with the computers, server and other facilities in accordance with the
requirements of Party A.

    

    

    
      2.2.5
Make periodic maintenance and necessary update on hardware facilities in
accordance with the requirements of Party A.

    

    

    2.2.6
Conduct technology training of the technical employees of Party A.

    

    
      	
               
      

            	
              (1)
      Conduct training to Party A for the operation of technologies with regard
      to latest bio-technologies, regenerative medical technologies, anti-aging
      technologies, etc.

            

    

    
      	
               
      

            	
              (2)
      Conduct training to Party A with regard to research and development of
      relevant technologies.

            

    

    
      	
               
      

            	
              (3)
      Strengthen the training of Party A’s staff to use new apparatus and
      equipments, quickly apply the new equipments into research and operation,
      and improve the capacity and
efficiency.

            

    

    

    
      2.2.7 In
the event of occurrence of technical problems of Party A, Party B shall
designate relevant staff to perform on-site research for assisting Party A to
resolve such problems if necessary.

    

    

    
      2.2.8
Party B shall be the sole and exclusive owner of all rights, title, interests
and intellectual property rights arising from the performance of this Agreement
(including but not limited to, any copyrights, patent, know-how, commercial
secrets and otherwise), regardless developed independently by Party B or by
Party A based on Party B’s intellectual property or by Party B based on Party
A’s intellectual property. Party A shall not claim against Party B on any
rights, ownership, interests or intellectual property.

    

    

    If such
development is conducted on the basis of Party A’s intellectual property, Party
A shall ensure that such intellectual property is clear and free from any lien
or encumbrance or license, or Party A shall indemnify Party B any and all
damages incurred thereby. In case Party B shall be liable to any third party by
reason thereof, Party B shall be compensated in full by Party A as long as Party
B has compensated the third party.

    

    Article
3 Consigned Management and Technology Service Fee

    

    3.1 Party
A shall pay the Consigned Management and Technology Service Fee, equal to 51-90%
of its total annual after-tax profit on a yearly basis as the Consideration of
services provided Party B as set forth in Article 2 hereunder.

     

    
      
        
        

      

      
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    3.2 Party
A shall pay to Party B the year’s Consigned Management and Technology Service
Fee before each calendar day of December 31st.

    

    3.3
Whereas the daily business operations of Party A shall bear a material impact on
its capacity to make the payments due to Party B, the Shareholders of Party A
jointly agree that they will immediately and unconditionally pay or transfer to
Party B any bonus, dividends or any other incomes or benefits (regardless of the
forms) obtained from Party A as the shareholders of Party A at the time when
such payables occur and provide all necessary documents or take all necessary
actions required by Party B to realize such payment or transfer .

    

    3.4 Party
B shall be entitled to request Party A in writing to adjust the Consideration in
accordance with the quantity and quality of the consigned services. The Parties
shall positively negotiate with each other in respect of the Consigned
Management and Technology Service Fee, and Party A shall agree with such
adjustment.

    

    Article
4 Warranties and Undertakings by Party A

    

    4.1
Within the term of this Agreement, Party B shall be the entity exclusively
consigned by Party A to provide the services as set forth in Article 2
hereunder, and Party A shall not consign any other entities to provide to Party
A any services same as or similar with those services provided in Article 2
hereunder.

    

    4.2
Without the prior written consent by Party B, Party A shall not change its
business target.

    

    4.3
Without the prior written consent by Party B, Party A shall not change its rules
and policies regarding the business operation, management, human resources and
finance.

    

    4.4
Without the prior written consent by Party B, Party A shall not change its
internal control system.

    

    4.5
Without the prior written consent by Party B, Party A shall not change its
internal organization.

    

    4.6
Without the prior written consent by Party B, Party A shall not replace any
senior management staff itself.

    

    4.7 Party
A shall provide Party B information regarding the business operation, management
and finance of Party A.

     

    
      
        
        

      

      
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    4.8 Party
A shall promptly and proactively notify Party B of any matters that adversely
affect Party A.

    

    4.9 Party
A shall give full cooperation to Party B, and provide assistance and convenience
to Party B for its on-site working, and shall not hinder Party B to provide
services as set forth in Article 2 hereunder.

    

    4.10
Party A shall promptly make full payment of Consigned Management and Technology
Service Fee to Party B in accordance with the provisions hereunder.

    

    4.11Without
the prior written consent by Party B, Party A shall not take any action that
would materially affect Party B’s rights and interests hereunder.

    

    Article
5 Warrants and Undertakings by Party B

    

    5.1 Party
B shall take advantage of its capacity and resources to provide the services as
stipulated in Article 2 hereunder.

    

    5.2 Party
B shall timely adjust and improve the services in accordance with the practical
request from Party A.

    

    5.3 In
the event that Party B proposes to provide services to any other entities
engaged in similar business as Party A, it shall give prior notice to Party A
and strictly keep the confidential information obtained during the course of
providing services to Party A .

    

    5.4 Party
B shall accept any reasonable suggestions from Party A during the course of
providing services to Party A.

    

    Article
6 Guaranty for this Agreement

    

    6.1 To
secure the performance of the obligations assumed by Party A hereunder,
Shareholder agree to pledge all their equity interests in Party A to Party B,
and the Parties agree to execute the Equity Pledge Agreement with respect
thereto.

    

    Article
7 Taxes and Expenses

    

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

    

    Article
8 Assignment of the Agreement

    

    8.1 Party
A shall not transfer part or all its rights and obligations under this Agreement
to any third party without the prior written consent of Party B.

    

    
      
        
        

      

      
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    8.2 The
Parties agree that Party B shall be entitled to transfer, at its own discretion,
any or all of its rights and obligations under this Agreement to any third party
upon a six (6) –day written notice to Party A.

    

    Article
9 Liability of Breach

    

    9.1 If
Party A fails to duly pay the Consigned Management and Technology Service Fee in
accordance with the provisions of Article 3 hereunder, then Party A shall pay
the liquidated damage per day equal to 0.03% of the unpaid Consideration which
falls due; if any delay of payment amounts to sixty (60) days, then Party B
shall be entitled to exercise the right of pledge under the Equity Pledge
Agreement.

    

    9.2 If
Party A violates its representations and warranties hereunder and fails to
redress such violation within sixty (60) days upon receipt of written notice
from Party B, Party B shall be entitled to exercise the right of pledge under
the Equity Pledge Agreement.

    

    9.3 If
Party B is in non-performance, or incomplete performance of this Agreement, or
is otherwise in default of any of its representations and warranties hereunder,
Party A shall be entitled to request Party B to redress its
default.

    

    Article
10 Effect, Modification and Cancellation

    

    10.1 This
Agreement shall take effect on the day of execution hereof, and the valid term
hereof shall be expired upon the day of completion of the acquisition of all or
the substantial part of assets or the equity of Party A by Party B or its
designated third party.

    

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

    

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

    

    Article
11 Confidentiality

    

    11.1 Any
information, documents, data and all other materials (herein “Confidential
Information”) arising out of the negotiation, signing, content and implementing
of this Agreement, shall be kept in strict confidentiality by the Parties.
Without the written approval by the other Parties, none of the Parties shall
disclose to any third party any confidential information, but the following
shall not be considered to be “confidential information”:

     

    
      
        
        

      

      
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    (1) The
materials that are known by the general public (but not include the materials
disclosed by a Party receiving the materials in breach of this
Agreement);

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

    (3) The
materials disclosed by each Party to its legal or financial consultants relating
the transactions under this Agreement, provided the legal or financial
consultants 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 Confidential Information by such
Party, and such Party shall bear the liabilities for breaching the
contract.

    

    11.2 If
this Agreement is terminated or becomes invalid or unenforceable, the validity
and enforceability of Article 11 shall not be affected or impaired.

    

    Article
12 Force Majeure

    

    12.1
“Force Majeure” refers to any 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), governmental acts, strikes
or riots.

    

    12.2 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 Party 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.

    

    Article
13 Governing Law and Dispute Resolution

    

    13.1 The
effectiveness, interpretation, implementation and dispute-resolution related to
this Agreement shall be governed under the PRC Laws.

    

    13.2 Any
dispute arising out of this Agreement shall be resolved by the Parties through
friendly negotiation. If the Parties could not reach an agreement within thirty
(30) days since the dispute is brought forward, each Party may submit the
dispute to Qingdao Arbitration Commission for arbitration under its applicable
rules. The arbitration award should be final and binding upon the
Parties.

    

    13.3
During the process of dispute-resolution, the Parties shall continue to perform
other terms under this Agreement, except for provisions subject to dispute
resolution.

     

    
      
        
        

      

      
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    Article
14 Miscellaneous

    

    14.1 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.

    

    14.2 This
Agreement shall bind and benefit the successor of each Party and the transferee
permitted hereunder with the same rights and obligations as if such successor or
transferee were an original party hereof.

    

    14.3 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: five (5) business days after deposit in the mail; (2) personal delivery
and 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: Liu Hongbing

    
      Address:
Room 501, Unit 2 Building 1, No.17 YinChuanDong Road, Laoshan District, Qingdao
City.

    

    Tel:

    Fax:

    

    Party
B:

    Contact
person: Robin Smith

    Address:

    Tel:

    Fax:

    

    The Shareholder

    Contact
person: Liu Hongbing

    
      Address:
Room 102, Unit 4 Building 6, No.138 Huaneng Road, Licheng District, Ji’nan
City

    

    Tel:

    Fax:

    

    14.4 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.

    

    14.5
Whenever the consent of Party B 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 Party B.

    IN WITNESS WHEREOF, the
Parties hereto have caused this Agreement to be executed and delivered as of the
date first written above.

    

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

     

    Consigned
Management and Technology Service Agreement 

      
        

      

       

    

    Party
A  Qingdao Niao Bio-Technology Ltd.

     

    Legal
Representative: Liu Hongbing

    Signature
and Company seal:

    /s/ Liu
Hongbing

    

    
      Party
B  NeoStem (China), Inc.

    

     

    Legal
Representative: Robin Smith

    Signature
and Company Seal:

     /s/
Robin Smith

    

    The
Shareholder of Qingdao Niao Bio-Technology Ltd.

    

    
      
        
          
            
              
                
                  
                    
                      
                        	
                                Name
      of the

                                Shareholder

                              	 	
                                Signature

                              
	 	 	 
	
                                Liu
      Hongbing

                              	 	
                                /s/
      Liu
Hongbing

                              

                      

                    

                  

                

              

            

          

        

      

    

    

    
      
        
        

      

      
        11

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00160-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00160-of-00352.parquet"}]]