Document:

EX-10.56 EXCLUSIVE SERVICES AGREEMENT, DATED NOVEM

 

Exhibit 10.56

Exclusive Service Agreement

This Exclusive Service Agreement (this “Agreement”) is entered into as of November 11, 2004 by
and among the following Parties:

	(1)	 	Shanghai Huxin Advertisement Co., Ltd. (“Party A”)
	 
	 	 	Address: Floor 28 Zhaofeng Shimao Tower, 369 Jiangsu Road, Shanghai;
	 
	(2)	 	New Allyes Information Technology (Shanghai) Co., Ltd. (“Party B”)
	 
	 	 	Address: Floor 28 Zhaofeng Shimao Tower, 369 Jiangsu Road, Shanghai;

RECITALS:

	(1)	 	WHEREAS, Party A is a company with limited liability which is established in Shanghai,
People’s Republic of China with legally good standing, and is engaged in the business of the
design, produce, agency and dissemination of advertisement via website.
	 
	(2)	 	WHEREAS, Party B is a wholly-owned foreign enterprise which is established in Shanghai,
People’s Republic of China with legally good standing, and is engaged in the business of the
research and development of the software of supervision system for website advertisement, the
delivery and supervision system for electronic mail, marketing research and relevant
technology services.
	 
	(3)	 	WHEREAS, Party A is intent to request Party B to provide the technical services relevant to
Party A Business (defied as below), and Party B hereby agrees to provide such technical
services.

NOW, THEREFORE, after friendly consultations among them, the Parties hereby agree as follows:

Article 1 – Definition

	1.1	 	Unless to be otherwise interpreted by the terms or in the context herein, the following terms
in this Agreement shall be interpreted to have the following meanings:

	 	 	 
	“Party A Business”

	 	means the business of the design, produce, agency and
dissemination of advertisement via website operated
and developed by Party A.

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	“Service”

	 	means the services relevant to Party A Business
exclusively provided by Party B to Party A, including
but not limited to:
	 
	 	 
	 

	 	(1)  technical support relevant to Party A Business
(including but not limited to software of supervision
system for website advertisement, and supervision for
the delivery of electronic mail);

	 
	 	 
	 

	 	(2)  technical consultancy relevant to Party A
Business;

	 
	 	 
	 

	 	(3)  training the professional technicians of Party A;
(4) assisting Party A in terms of the information
collection and marketing research;

	 
	 	 
	 

	 	(5)  other technical services and consultancy as and
when required by Party A from time to time.

	 
	 	 
	“Annual Business 

Plan”

	 	means the business plan for the next calendar year
made by Party A in accordance with this agreement
prior to November 30 every year with the assistant of
Party B.
	 
	 	 
	“ Service Fees”

	 	means all the fees paid by Party A to Party B for its
services in accordance with Article 3 of this
agreement.
	 
	 	 
	“Technology
Relevant to
Business”

	 	means all the technologies relevant to the Party A
Business developed based on the service provided by
Party B under this Agreement.

	1.2	 	References in this Agreement to any laws and regulations (the “Laws”) shall include reference
(1) at the same time to the amendments, changes, supplements and reformulations of such Laws,
whether or not the effectiveness of the same is prior to or after the execution of this
Agreement; and (2) at the same time to other decisions, notices and rules formulated or
becoming effective according to such Laws.

	1.3	 	Unless otherwise specified in the context of this Agreement, the Article, sub-article,
section or paragraph mentioned herein shall refer to the corresponding content in this
Agreement accordingly.

Article 2 – Service

	2.1	 	Parties hereby acknowledge that Party B shall provide Party A with Service in accordance with
this Agreement as of November 11, 2004, and shall keep providing such Service in accordance
with the term as provided in section one, Article 8 of this Agreement.

	2.2	 	Party B shall equipped with the devices which is reasonably necessary for the provision of
the Service, and shall purchase and add new devices according to the Annual Business Plan of
Party A and the reasonable requests of Party A.

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	2.3	 	Party B shall timely provide Party A with Service and communicate with Party A in terms of
the information relevant to Party A business and the clients of Party A.

Article 3 –Service Fees

	3.1	 	As of the date of this agreement, the Service Fees to be charged by Party A for the Service
provided by Party B in accordance with this Agreement includes:

	 	(1)	 	Service Fees equal to 100% of the annual turnover before tax of Party A.
	 
	 	(2)	 	When the Parties agree otherwise, Service Fees for other technical services and
consultancy fees upon the request of Party A from time to time.

	3.2	 	Upon the end of the accounting year of Party A, the Parties shall confirm the annual turnover
the Party A in accordance with the Audit Report issued by the PRC accounting firm mutually
recognized by both Parties, and shall calculate the Service Fees provided in the section 1 (1)
of Article 3. Party A shall, within 15 working days from the issuance date of the Audit
Report, make payment of Service Fees to Party B. Party A undertakes to Party B that it will
provide and assist the PRC accounting firm with all the necessary documents and help, and
shall cause the accounting firm complete the Audit Report of the last year within 30 working
days from the end of every year and to issue such Audit Report to Party A. Party A shall, in
accordance with the section 1 (1) of Article 3 of this Agreement and other clauses provided in
the technical service agreement and consultancy service agreement as being concluded by the
Parties from time to time, make payment to Party B in terms of the other relevant technical
service fees and consultancy fees.

	3.3	 	Party A shall, in accordance with this Article, transfer all the Service Fees to the band
account designated by Party B. Should such bank account is altered by Party B, it shall issue
a written notice to Party A 7 working days prior to such alteration.

	3.4	 	Regardless of the provision of this Article, the Parties may adjust the ratio for the
Service Fees as provided in the section 1 (1) and 1 (2) upon their mutual agreement.

Article 4 – Obligation of Party A

	4.1	 	The Service provided by Party B in this agreement is exclusive, within the term of this
Agreement, without the prior written consent of Party B, Party A shall not conclude any
agreement with the third party to retain the third party to provide Party A with the service
same as or similar to the Service provided by Party B.

	4.2	 	Party A shall, prior to November 30 of every year, provide Party B with the Annual Business
Plan of the next year, so that Party B may arrange the service plan and purchase the necessary
devices and technical staff. Should Party A request Party B to purchase devices provisionally,
it shall negotiate with Party B 15 days in advance in order to reach consensus.

	4.3	 	Party A shall promptly and accurately provide Party B with documents required by it in
convenience for the Service to be provided by Party B.

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	4.4	 	Party A shall, in accordance with the Article 3 of this Agreement, make the payment of
Service Fees to Party B timely and fully.

	4.5	 	Party A shall remain its good standing and develop its business in order to maximize its
profit.

	4.6	 	For the development of Party A Business, the Parties agree that Party B entrust Party A to,
in accordance with the special request of Party B, research and develop the technology
necessary for Party B to provide Service under this Agreement, provided that Party A is
capable of such research and development and such entrustment will not violate the mandatory
regulation of PRC laws. Party A must accept such entrustment, and any interest arose from the
technology development shall be comply with the paragraph 1, section 2 of Article 5 of this
agreement.

Article 5 – Intellectual Property

	5.1	 	The rights of intellectual property concerning the work product created during the process of
services provision by Party B hereunder shall belong to Party B.

	5.2	 	Since the development of Party A Business is depending on the Service provided by Party B
under this Agreement, as for the relevant technology developed under the Service, Party A
agrees to the arrangement as below:

	 	(1)	 	Should the relevant technology is developed by virtue of the entrustment of Party
B to Party A, or developed by the cooperation between Party B to Party A, the title to
such technology and relevant application rights for patent belongs to Party B.
	 
	 	(2)	 	Should the relevant technology is developed by Party A alone, the title to such
technology belongs to Party A under the condition that (A) Party A inform Party
B of the relevant technology and provide Party B with information required by it; (B) if
Party A intents to license or transfer such technology, Party A shall, without violating
the mandatory PRC laws, Party B shall have the priority to accept the transfer or
authorization of the right to exclusively use such technology, and Party B may use such
technology within the permissive scope of such transfer or authorization (but Party B
shall have the discretion to decide whether to accept such transfer or authorization of
rights of use); only under the circumstances that Party B waive its rights to accept the
transfer or right of use can Party A transfer or authorize the third party the right to
use such technology with the condition not favorable to that provided to Party B, and
shall guarantee that such third party will comply with all the obligation and liability
undertaken by Party A under this Agreement; (C) expect for the condition set forth in
(B), with the term provided in Article 8 of this Agreement, Party B is entitled to
purchase such technology and Party A shall then agree such purchase without violating
the mandatory PRC laws, the purchase price shall be RMB 1.00 yuan or other price
acceptable by the current PRC laws.

	5.3	 	Should Party B is authorized with the exclusive right of use of such technology in accordance
with paragraph 2, section 2 of Article 5 of this Agreement, such authorization shall be
carried out by the followings:

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	 	(1)	 	the term for the authorization shall be no less then 10 years (commencing from
the date of the effectiveness of relevant authorization agreement);
	 
	 	(2)	 	the scope of authorization shall be maximized;
	 
	 	(3)	 	within the term and scope of the authorization, except for Party B, any other
party (including Party A) shall not use or permit to use such technology;
	 
	 	(4)	 	without violating the paragraph 3, section 3 of Article 5 of this Agreement,
Party A is entitled to permit the third party to use such technology with its own
discretion;
	 
	 	(5)	 	upon the expiration of the term of the authorization, Party B is entitle to ask
for renewal and Party A shall agree; the terms and condition of the renewed agreement
shall remain the same as this Agreement, unless Party B required otherwise.

	5.4	 	Regardless of the provision in the paragraph 2, section 2 of Article 5 of this Agreement, the
application rights for patent shall be carried out by the followings:

	 	(1)	 	Should Party A intents to apply for patent in respect of any technology herein,
it shall obtain the written consent from Party B;
	 
	 	(2)	 	Party A can only apply for patent or transfer such application rights for patent
to third party under the condition that Party B waives its rights to purchase the
transfer of application rights for patent. Under the condition that Party A transfer
such application rights for patent to third party, it shall guarantee that that such
third party will comply with all the obligation and liability undertaken by Party A
under this Agreement; meanwhile, it shall transfer the application rights for patent
with the condition not favorable to that provided to Party B (including but limited to
transfer price).
	 
	 	(3)	 	Within the term of this Agreement, Party B can at any time cause Party A to apply
for patent and can decide whether to purchase such application rights for patent with
its own discretion. Upon the request of Party B, Party A shall, without violating the
mandatory PRC laws, transfer application rights for patent to Party B, the purchase
price shall be RMB 1.00 yuan or other price acceptable by the current PRC laws. When
Party B obtains the application rights for patent and successfully apply for the patent,
it shall own the legal title to such patent.

	5.5	 	Upon the written request of Party B, Party A shall, without violating the mandatory PRC laws,
transfer to Party B all of its currently owned or would-be owned trademarks, patent, know-how,
the transfer price shall be RMB 1.00 yuan or other price acceptable by the current PRC laws.

	5.6	 	Both Parties guarantee to each other that it will indemnify the other party against any and
all economic loss arising from its infringe of the intellectual property (including copyright,
trademark, patent and know-how) of the third party.

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Article 6 – Confidentiality

	6.1	 	With the term of this agreement, all the clients information and other information (the
“Clients Information”) in connection with Party A Business and Service provided by Party B
shall be owned by both Parties.

	6.2	 	No matter if this Agreement is terminated or not, the Parties shall be obliged to keep in
strict confidence the commercial secret, proprietary information and customer information in
relation to other Parties and any other non-open information of other Parties which they may
become aware of as the result of their performance hereof (collectively, “Confidential
Information”). Unless with prior consent of such other Parties in writing or required to
disclose to parties other than Parties hereof according to relevant laws, regulations or
listing rules, no Party shall disclose the Confidential Information or any part thereof to any
parties other than Parties hereof; unless for the purpose of performance hereof, no Party
shall use directly or indirectly the Confidential Information or any part thereof for any
other purposes.

     6.3 The following information is not Confidential Information:

	 	(1)	 	information which has been known by Receiving Party;
	 
	 	(2)	 	information obtained from public area not due to the fault of Receiving Party, or
information known by the public by other reasons;
	 
	 	(3)	 	information obtained by Receiving Party from other legal method.

	6.4	 	Receiving Party shall restrict disclosure of the Confidential Information to its employees,
agents and advisors with a need to know and who are bound to protect the confidentiality of
such Confidential Information (and shall advise such employees, agents, representatives and
advisors of the obligations assumed herein).

Article 7 – Undertakings and Guarantees

	7.1	 	Party A hereby undertakes and guarantees that there is no and will have no agreement,
contract, undertakings or other arrangement which is binding to Party A and may restrict Party
A from performing all or part of its obligations under this Agreement.

Article 8 – Agreement Term

	8.1	 	The Parties hereby confirm that, once this Agreement is formally executed by the Parties,
this Agreement shall be effective; unless terminated earlier by the Parties in writing, this
Agreement shall be valid continuously.

	8.2	 	Upon termination of this Agreement, each Party shall continue to abide by its obligations
under section 1 of Articles 3, and Article 6 hereunder.

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Article 9 – Notice

Party A shall indemnify Party B against any losses arise or may arise due to the Service
provided by Party B, such losses including but not limited to any losses arising from the
litigation, arbitration, claim, administrative investigation, sanction raised by any third
party. But such losses will not include the losses caused due to the fault of Party B.

Article 10 – Notice

	10.1	 	Any notice, request, demand and other correspondences made as required by or in accordance
with this Agreement shall be made in writing and delivered to the relevant Party.

	10.2	 	The abovementioned notice or other correspondences shall be deemed to have been delivered
when it is transmitted if transmitted by facsimile or telex; it shall be deemed to have been
delivered when it is delivered if delivered in person; it shall be deemed to have been
delivered five (5) days after posting the same if posted by mail.

Article 11 – Default Liability

	11.1	 	The Parties agree and confirm that, if any Party (the “Defaulting Party”) breaches
substantially any of the agreements made under this Agreement, or fails substantially to
perform any of the obligations under this Agreement, such a breach shall constitute a default
under this Agreement (a “Default”), then the non-defaulting Party whose interest is damaged
thereby shall have the right to require the Defaulting Party to rectify such Default or take
remedial measures within a reasonable period. If the Defaulting Party fails to rectify such
Default or take remedial measures within such reasonable period or within ten (10) days of the
non-defaulting Party notifying the Defaulting Party in writing and requiring it to rectify the
Default, then the non-defaulting Party shall have the right, at its own discretion, to (1)
terminate this Agreement and require the Defaulting Party to indemnify it fully for the
damage; or (2) demand the enforcement of the Defaulting Party’s obligations hereunder and
require the Defaulting Party to indemnify it fully for the damage.

	11.2	 	The Parties agree and confirm that under no circumstances shall Party A be able to demand
termination of this Agreement for whatever reason.

	11.3	 	The rights and remedy under this Agreement is cumulative, and shall not repel other rights or
remedy rendered by laws.

	11.4	 	Notwithstanding any other provisions herein, the validity of this Article 11 shall not be
affected by the suspension or termination of this Agreement.

Article 12 – Force Majeure

In the event of earthquake, typhoon, flood, fire, war, computer virus, loophole in the design of
tooling software, internet system encountering hacker’s invasion, change of policies or laws, and
other unforeseeable or unpreventable or unavoidable event of force majeure, which directly prevents
a Party from performing this Agreement or performing the same on the

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agreed condition, the Party encountering such a force majeure event shall forthwith issue a notice
by a facsimile and, within thirty (30) days, present the documents proving the details of such
force majeure event and the reasons for which this Agreement is unable to be performed or is
required to be postponed in its performance, and such proving documents shall be issued by the
notarial office of the area where such force majeure event takes place. The Parties shall consult
each other and decide whether this Agreement shall be waived in part or postponed in its
performance with regard to the extent of impact of such force majeure event on the performance of
this Agreement. No Party shall be liable to compensate for the economic losses brought to the
other Parties by the force majeure event.

Article 13 – Miscellaneous

	13.1	 	This Agreement shall be prepared in the Chinese language in four (4) original copies, with
each involved Party holding two (2) copy hereof.

	13.2	 	The formation, validity, execution, amendment, interpretation and termination of this
Agreement shall be subject to the PRC Laws.

	13.3	 	Any disputes arising hereunder and in connection herewith shall be settled through
consultations among the Parties, and if the Parties cannot reach an agreement regarding such
disputes within thirty (30) days of their occurrence, such disputes shall be submitted to
China International Economic and Trade Arbitration Commission for arbitration in Shanghai in
accordance with the arbitration rules of such Commission, and the arbitration award shall be
final and binding on the Parties involved in such dispute.

	13.4	 	Any rights, powers and remedies empowered to any Party by any provisions herein shall not
preclude any other rights, powers and remedies enjoyed by such Party in accordance with laws
and other provisions under this Agreement, and the exercise of its rights, powers and remedies
by a Party shall not preclude its exercise of its other rights, powers and remedies by such
Party.

	13.5	 	Any failure or delay by a Party in exercising any of its rights, powers and remedies
hereunder or in accordance with laws (the “Party’s Rights”) shall not lead to a waiver of such
rights, and the waiver of any single or partial exercise of the Party’s Rights shall not
preclude such Party from exercising such rights in any other way and exercising the remaining
part of the Party’s Rights.

	13.6	 	The titles of the Articles contained herein shall be for reference only, and in no
circumstances shall such titles be used in or affect the interpretation of the provisions
hereof.

	13.7	 	Each provision contained herein shall be severable and independent from each of other
provisions, and if at any time any one or more articles herein become invalid, illegal or
unenforceable, the validity, legality or enforceability of the remaining provisions herein
shall not be affected as a result thereof.

	13.8	 	Once executed, this Agreement shall replace any other legal documents entered into by the
relevant Parties hereof in respect of the same subject matter hereof. Any amendments or
supplements to this Agreement shall be made in writing and shall take effect only when
properly signed by the Parties to this Agreement.

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	13.9	 	No Party shall assign any of its rights and/or obligations hereunder to any parties other
than the Parties hereof without the prior written consent from the other Parties.

	13.10	 	This Agreement shall be binding on the legal successors of the Parties.

[the remainder of this page is left blank]

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Execution Page

IN WITNESS HEREOF, the Parties have caused this Agreement to be executed in Shanghai as of the date
first hereinabove mentioned.

Shanghai Huxin Advertisement Co., Ltd. (Corporate Seal)

/s/ Hailong Zhu                    

Position: Authorized Representative

New Allyes Information Technology (Shanghai) Co., Ltd. (Corporate Seal)

/s/ Jiangang Wang                    

Position: Authorized Representative

10EX-10.57 LOAN AGREEMENT, DATED NOVEMBER 1, 2004, B

 

Exhibit 10.57

Loan Agreement

This Loan Agreement (this “Agreement”) is entered into as of November 1, 2004 by and among the
following Parties:

	(1)	 	New Allyes Information Technology (Shanghai) Co., Ltd. (“Lender”)
	 
	 	 	Address: Room E-G, Floor 28 Zhaofeng Shimao Tower, 369 Jiangsu Road;
	 
	(2)	 	Suyang Zhang (“Borrower”)
	 
	 	 	ID card No.: 310107581124243
	 
	 	 	Address: Room 64, No.9 of No.74 Lane, Wuning Road, Shanghai

The Lender and the Borrower will be called hereinafter the “One Party” respectively and the “Both
Parties” collectively.

WHEREAS:

Borrower is the resident of the People’s Republic of China (the “PRC”).

Lender is a company with limited liability registered in Shanghai. The Lender intends to provide a
loan to the Borrower.

NOW THEREFORE, Both Parties agree as follows:

	1.	 	Loan

	 	1.1	 	The Lender agrees to provide a long-term loan to the Borrower with the principal as
RMB 250,000 in accordance with the terms and conditions set forth in this Agreement. Term
for such loan will be ten (10) years and shall be extended upon the agreement of Both
Parties through negotiations. During the term or extended term of such loan, the Borrower
shall refund the loan ahead of the loan term or the extended loan term, if either of the
following events occurs:

	 	(1)	 	Borrower becomes dead or becomes a person without capacity or with
limited capacity for civil acts;
	 
	 	(2)	 	Borrower quits from or dismissed by the Lender or its affiliates;

	 
	 	(3)	 	the Borrower commits a crime or involves a crime;

	 	1.2	 	The Lender agrees to remit the amount of such loan to the account designated by the
Borrower within seven (7) days after receiving the Borrower’s written notification to use
the loan, provided that all of the preconditions set forth in Section 2 of this Agreement
are satisfied. The Borrower shall issue confirmation notification to the Lender on the
day receiving the amount of the loan. The commitments of the Lender under this section
are effective only to the Borrower
itself, but not the Borrower’s inheritor or transferee.

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	 	1.3	 	The Borrower agrees to accept such loan provided by the Lender and agrees and
warrants hereby such loan shall be used only for establishing an advertisement company in
Shanghai for the Borrower. Without the Lender’s prior written consent, the Borrower shall
not use the amount of such loan for any other purpose or transfer or pledge its equity in
the Borrower’s Company to any other third party.
	 
	 	1.4	 	The Lender and the Borrower jointly agree and confirm that the Borrower shall refund
the loan only by transferring all of Borrower’s equity in the Borrower’s Company to the
Lender or other (legal person or natural person) designated by the Lender.
	 
	 	1.5	 	The Lender and the Borrower hereby jointly agree and confirm that any proceeds raised
from the transfer of Borrower’s equity in the Borrower’s Company shall be paid to the
Lender, as the consideration of the loan provided by the Lender, in the means designated
by the Lender in accordance with this Agreement and the Agreement shall terminate
simultaneously.
	 
	 	1.6	 	The Lender and the Borrower hereby jointly agree and confirm that the Lender has the
right to, but has no obligation to, at any time, purchase or designate the other (legal
person or natural person) to purchase all or part of Borrower’s equity in the Borrower’s
Company at any price determined by Both Parties, subject to the permission of the law.
	 
	 	 	 	The Borrower warrants to issue an irrevocable proxy to confer all its rights as a
shareholder of the Borrower’s Company to a person designated by the Lender.
	 
	 	1.7	 	Interest of the Loan. In the event when the Borrower transfer its equity in the
Borrower’s Company to the Lender or the person designated by the Lender, the loan
hereunder shall be deemed as the loan without interest, if the transfer price of such
equity equals to or is less than the principal under this Agreement. However, in case
that the transfer price exceeds the amount of principal hereunder, the exceeding amounts
shall be deemed the interests of such loan under this Agreement and shall be paid to the
Lender by the Borrower.

	2.	 	Preconditions of the Loan 

     The Lender will be liable to provide loan to the Borrower in accordance with Section 1.1 when
all of the following conditions are satisfied or are waived by the Lender in writing.

	2.1	 	Subject to the terms of Section 1.2, the Lender receives the drawing notice formally issued
by the Borrower.

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	2.2	 	The Lender, the Borrower and Lender have formally executed a equity pledge contract (the
“Share Pledge Agreement”), by virtue of which the Borrower agrees to pledge all its equity in
the Borrower’s Company to the Lender.

	2.3	 	The Borrower, Lender and Borrower’s Company have executed an Call Option Agreement (the “Call
Option Agreement”), as per which the Borrower shall grant the Lender an irrevocable option to
purchase all of the Borrower’s equity in the Borrower’s Company, provided that it is permitted
by laws of PRC.

	2.4	 	The above-mentioned Share Pledge Agreement and Call Option Agreement are in full
effectiveness, of which there is none of default event and all relevant filing procedures,
approval, authorization, registration and governmental proceedings have been obtained or
completed (if needed).

	2.5	 	The representation and warranties under Section 3.2 are, and shall be, true, integrate,
correct and un-misleading, on the day of drawing notification and on the drawing day, just as
the representation and warranties are made on such days.

	2.6	 	The Borrower breaches none of its commitments under Section 4 and no event which will affect
the Borrower’s performance of the obligations hereunder, happens or threatens to happen.

3. Representation and Warranties

	 	3.1	 	The Lender hereby represents and warrants to the Borrower that, from the execution date
of this Agreement until the date this Agreement terminates,

	 	(a)	 	Lender is a company registered and validly existing under the laws of PRC;
	 
	 	(b)	 	subject to its business scope, articles of association and other organizational
documents, the Lender has full right, power and all necessary and appropriate approval
and authorization to execute and perform this Agreement;
	 
	 	(c)	 	the execution and the performance of this Agreement shall not be against any
enforceable and effective laws and regulations, governmental approval, authorization
and notification, other government documents and any contracts executed with, or
commitments made to, any third party; and
	 
	 	(d)	 	this Agreement shall constitute the legal, valid and binding obligations of the
Lender, which is enforceable against the Lender in accordance with its terms upon its
execution.

	 	3.2	 	The Borrower hereby represents and warrants that, from the execution date of this
Agreement until the date this Agreement terminates,

	 	(a)	 	the Borrower’s Company is a limited liability company registered and validly
existing under the laws of PRC;

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	 	(b)	 	Borrower has full right to execute and perform this Agreement;
	 
	 	(c)	 	the execution and the performance of this Agreement shall not be against any
enforceable and effective laws and regulations, governmental approval, authorization
and notification, other government documents and any contracts executed with, or
commitments made to, any third party;
	 
	 	(d)	 	this Agreement shall constitute the legal and valid obligations of the
Borrower, which is enforceable against the Borrower in accordance with its terms upon
its execution;
	 
	 	(e)	 	the Borrower has paid contribution in full for its equity in the Borrower’s
Company in accordance with applicable laws and regulations and has acquired capital
contribution verification report issued by the qualified accounting firm;
	 
	 	(f)	 	the Borrower neither create pledge or any other security, nor make third party
any offer to transfer the Borrower’s equity, nor make acceptance for the offer of any
third party to purchase Borrower’s equity, nor execute agreement with any third party
to transfer Borrower’s equity, except the terms of the Equity Pledge Contract;
	 
	 	(g)	 	there are no disputes and legal or other proceedings pending or threatened
before any court, tribunal or other regulatory authority and involving the Borrower;
and
	 
	 	(h)	 	the Borrower’s Company has completed all governmental approval, authorization,
license, register, filing and otherwise necessary to carry out the business subject to
its business license and to possess its assets.

	4.	 	Commitments of Borrower 

	4.1	 	The Borrower, as major shareholder of the Borrower’s Company, agrees that it shall cause the
Borrower’s Company, during the term of this Agreement,

	 	(a)	 	not to supply, amend or modify its articles of association, to increase or
decrease its registered capital, or to change its capital structure in any way without
the Lender’s prior written consent;
	 
	 	(b)	 	subject to good financial and business rules and practices, to maintain and
operate its business and handle matters prudently and effectively;
	 
	 	(c)	 	not to sell, transfer, mortgage, dispose of in any other way, or to create
other security interest on, any of its assets, business or legal right to collect
interests without the Lender’s prior written consent;

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	(d)	 	without the Lender’s prior written consent, not to create, succeed to,
guarantee or permit any debt, except (i)the debt arising in the course of the ordinary
or daily business operation, but not arising from the loan, and (ii)the debt being
reported to the Lender or having approved by the Lender in writing;

	(e)	 	to operate persistently all the business of the Borrower’s Company and to
maintain the value of its assets;

	(f)	 	without the Lender’s prior written consent, not to execute any material
contracts (during this stage, a contract will be deemed material if the value of it
exceeds RMB¥1,000,000) except those executed during the ordinary operation;

	(g)	 	not to provide loan or credit to any person without the Lender’s prior written
consent;

	(h)	 	to provide information concerning all of its operation and financial affairs
subject to the Lender’s request;

	(i)	 	to purchase insurance from the insurance company accepted by the Lender and
maintain persistently such insurance, provided that the amount and type of such
insurance are as the same as, or equivalent to, the insurance amount and insurance type
taken out generally by the company which operates, in the same territory, the similar
business and possesses the similar properties or assets;

	(j)	 	not to merger or combine with, buy or invest in, any other person without the
Lender’s prior written consent;

	(k)	 	to inform promptly the Lender of the pending or threatened suit, arbitration or
regulatory procedure concerning the assets, business or income of the Borrower’s
Company;

	(l)	 	to execute all necessary or appropriate documents, to take all necessary or
appropriate action and to bring all necessary or appropriate lawsuit or to make all
necessary and appropriate defending against all claims, in order to maintain the
ownership of the Borrower’s Company for all its assets;

	(m)	 	without the Lender’s prior written consent, not to issue dividends to each
shareholder in any form, provided however, the Borrower’s Company shall promptly
allocate all its allocable profits to each of its shareholders upon the Lender’s
request;

	(n)	 	to appoint any person designated by the Lender to be the director of the
Borrower’s Company subject to the Lender’s request;

5

 

	 	(o)	 	to comply strictly with the terms under the Exclusive Purchase Contract and to
do nothing affecting the validity and enforceability of such contract;

	4.2	 	The Borrower agrees that it shall, during the term of this Agreement,

	 	(a)	 	not sell, transfer, mortgage, dispose of in any other way, or create other
security interest on, any of its legal right of equity or equity interest without the
Lender’s prior written consent, except the terms of the Equity Pledge Contract;
	 
	 	(b)	 	cause the shareholder’s meeting appointed by the Lender not to sell, transfer,
mortgage, dispose of in any other way, or to create other security interest on, any of
the Borrower’s legal right of equity or equity interest without the Lender’s prior
written consent, except that the counter party is the Lender or those designated by the
Lender;
	 
	 	(c)	 	cause the shareholder’s meeting appointed by the Lender not to merge or combine
with, buy or invest in, any person without the Lender’s prior consent;
	 
	 	(d)	 	promptly inform the Lender of the pending or threatened suit, arbitration or
regulatory procedure concerning the Borrower’s equity in the Borrower’s Company;
	 
	 	(e)	 	execute all necessary or appropriate documents, take all necessary or
appropriate action and bring all necessary or appropriate lawsuit or make all necessary
and appropriate defending against all claims, in order to maintain the ownership of the
Borrower’s Company for all its assets;
	 
	 	(f)	 	do nothing that may materially affect the assets, business and liabilities of
the Borrower’s Company without the Lender’s prior written consent;
	 
	 	(g)	 	appoint any person to be the director of the Borrower’s Company subject to the
Lender’s request;
	 
	 	(h)	 	transfer promptly and unconditionally, at any time, all of the Borrower’s
equity in the Borrower’s Company to the Lender or representative designated by the
Lender and cause the other shareholder of the Borrower’s Company to waive its option to
purchase such equity hereof, subject to the requesting of the then holding company of
the Lender, provided that such transfer is permitted under the laws of PRC;
	 
	 	(i)	 	cause the other shareholder of the Borrower’s Company to transfer promptly and
unconditionally, at any time, all equity of the other shareholder in the Borrower’s
Company to the representative designated by the Lender and the Borrower hereby waive
its option to purchase such equity hereof, subject to the requesting of the then
holding company of the Lender, provided that such transfer is permitted under the laws
of PRC;

6

 

	 	(j)	 	refund the loan to the Lender with such amount arising from transferring
Borrower’s equity in the Borrower’s Company if the Lender purchases the Borrower’s
equity subject to the Exclusive Purchase Contract; and
	 
	 	(k)	 	comply strictly with the terms of this Agreement, Equity Pledge Contract and
Exclusive Purchase Contract, fully perform all obligations under such contracts and do
nothing affecting the validity and enforceability of such contracts.

	5.	 	Default 

     The Borrower shall pay the overdue interests with 0.01% of the overdue amount until the
Borrower refunds all of the principal, overdue interests of the principal and other money, in the
event when the Borrower dose not perform its obligation of repayment.

	6.	 	Notifications 

     Notice or other communications under this Contract shall be delivered personally or sent by
facsimile transmission or by registered mail to the address set forth below, except that such
address has been changed in writing. The date noted on the return receipt of the registered mail is
the service date of the notice if the notice is sent by registered mail; the sending date is the
service date of the notice if the notice is sent personally or by facsimile transmission. The
original of the notice shall be sent personally or by registered mail to the following address
after the notice is sent by facsimile.

	 	 	 
	Lender:

	 	New Allyes Information Technology (Shanghai) Co., Ltd.

     Address: Room E-G, Floor 28 Zhaofeng Shimao Tower, 369 Jiangsu Road, Shanghai
	 

	 	     Telephone No.: 021-32124667
	 

	 	     Facsimile No.: 52400997
	 
	 	 
	Borrower:

	 	Suyang Zhang
	 

	 	      Address: Room 64, No.9 of No.74 Lane, Wuning Road, Shanghai

	7.	 	Confidentiality

     Both parties acknowledge and confirm that any oral or written materials concerning this
Agreement exchanged between them are confidential information. Both parties shall protect and
maintain the confidentiality of all such confidential data and information and shall not disclose
to any third party without the other party’s written consent, except (a) the data or information
that was in the public domain or later becomes published or generally known to the public, provided
that it is not released by the receiving party, (b) the data or information that shall be disclosed
pursuant to applicable laws or regulations, and (c) the data or information that shall be disclosed
to One Party’s legal counsel or financial counsel who shall also bear the obligation of maintaining
the confidentiality similar to the obligations hereof. The undue disclosing of the confidential
data or information of One Party’s legal counsel or financial counsel shall be deemed the undue
disclosing of such

7

 

party who shall take on the liability of breach of this Agreement. This section shall survive
after this Agreement terminates by any reason.

	8.	 	Governing Law and Settlement of Disputes 
	 
	8.1	 	The execution, validity, interpretation, performance, implementation, termination and
settlement of disputes of this Agreement shall be governed by the laws of PRC.
	 
	8.2	 	Both Parties shall strive to settle any dispute arising from the interpretation or
performance in connection with this Agreement through friendly consultation within 30 days
after One Party ask for consultation. In case no settlement can be reached through
consultation, One Party can submit such matter to China International Economic and Trade
Arbitration Commission (the “CIETAC”). The arbitration shall follow the current rules of
CIETAC, and the arbitration proceedings shall take place in Shanghai. The arbitration award
shall be final and binding upon the Both Parties and shall be enforceable in accordance as its
terms.
	 
	8.3	 	In case of any disputes arising out of the interpretation and performance of this Agreement
or any pending arbitration of such dispute, Both Parties shall continue to perform their
rights and obligations under this Agreement, except that such maters are involved in the
disputes.
	 
	9.	 	Miscellaneous
	 
	9.1	 	This Agreement shall be effective as of the date of execution and shall expire when Both
Parties has fully performed their obligations under this Agreement.
	 
	9.2	 	This Agreement is made in duplicate and each of the parties shall keep one, which has the
same effect.
	 
	9.3	 	Both Parties may amend and supply this Agreement with a written agreement The amendment and
supplement duly executed by Both Parties shall be part of this Agreement and shall have the
same legal effect as this Agreement.
	 
	9.4	 	Any provision of this Agreement that is invalid or unenforceable shall not affect the
validity and enforceability of any other provisions hereof.
	 
	9.5	 	The Appendices referred to in this Agreement are an integral part of this Agreement and have
the same legal effect as this Agreement.

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Lender: New Allyes Information Technology (Shanghai) Co., Ltd. (Corporate Seal)

/s/ Jiangang Wang                    

Position: Authorized Representative

Borrower: Suyang Zhang

/s/ Suyang Zhang                    

9

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