Document:

REGISTRATION
      RIGHTS AGREEMENT

     

    THIS
      REGISTRATION RIGHTS AGREEMENT (“Agreement”) made as of this 23rd
      day of
      January, 2007, by and among SRKP 9, Inc., a Delaware corporation (the
“Company”); Times Manufacture & E-commerce Corporation Limited, a British
      Virgin Islands corporation (“Times”) and upon the Closing Date (as defined
      below) a 100%-owned subsidiary of the Company ("Times"); and the undersigned
      (each a “Holder” and together the “Holders”).

     

    WHEREAS,
      the Company, Times, and Kwong Kai Shun, are parties to a certain Share Exchange
      Agreement dated as of December 15, 2006, as amended (the “Exchange Agreement”),
      pursuant to which Times will become a 100%-owned subsidiary of the Company
      and
      100% of the outstanding securities of Times will be exchanged for securities
      in
      the Company (the “Share Exchange”). Immediately after the effective time of the
      Share Exchange (the “Closing Date”), the Company will assume the business and
      operations of Times; and

     

    WHEREAS,
      the Company agreed to file, within thirty (30) days after the Closing Date
      with
      the U.S. Securities and Exchange Commission (the “Commission” or “SEC”) a
      registration statement (the “Initial Registration Statement”) covering the
      resale of shares issued in connection with the Company’s private offering that
      closed concurrently with the Share Exchange and covering the resale of Common
      Shares held by those persons that are shareholders of the Company immediately
      prior to the Closing Date (“Pre-Existing Shareholders”), except for WestPark
      Affiliates (as defined below); 

     

    WHEREAS,
      as set forth in Section 10.1 of the Exchange Agreement, and as a condition
      to
      the closing of the Share Exchange, the Company agreed to enter into a
      registration rights agreement with requiring the Company to file, within the
      time periods as set forth herein, with the U.S. Securities and Exchange
      Commission (the “Commission”) a registration statement covering the resale of
      shares of Common Stock, as set forth on Schedule
      I
      hereof
      (the “Shares”), held by those persons (and/or their designees) that are (i)
      shareholders of the Company immediately prior to the Closing who are affiliates
      of WestPark Capital (“WestPark Affiliates” or “Holders”).

     

    NOW,
      THEREFORE, for and in consideration of the promises and the mutual covenants
      hereinafter set forth, the parties hereto do hereby agree as
      follows:

     

    1.  Registration
      Rights

     

    1.1  Registration
      Requirement.
      Subject
      to the terms and limitations hereof, the parties hereto agree and acknowledge
      that the Company shall prepare and file a registration statement (the
“Registration Statement”) on Form S-1 or other appropriate registration document
      under the Securities Act of 1933, as amended (the “Act”) for resale of the
      Shares (the “Registrable Securities”) and shall use its reasonable best efforts
      to maintain the Registration Statement effective for a period of twenty-four
      (24) months at the Company’s expense (the “Effectiveness Period”). The Company
      shall file such Registration Statement no later than the tenth (10) day after
      the end of the six (6) month period that immediately follows the filing date
      of
      the Initial Registration Statement (the “Required Filing Date”), provided that
      if such day is not a Business 

     

    
      
        
        

      

      
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    Day,
      then
      the Required Filing Date shall be the next business day thereafter. The Company
      shall use reasonable best efforts to cause such Registration Statement to become
      effective within one hundred and twenty (120) days after the Required Filing
      Date or the actual filing date, whichever is earlier, or one hundred fifty
      (150)
      days after the Required Filing Date or the actual filing date, whichever is
      earlier, if the Registration Statement is subject to a full review by the SEC
      (the “Required Effectiveness Date”). If the Company fails to file the
      Registration Statement by the Required Filing Date or if the Registration
      Statement does not become effective on or before the Required Effectiveness
      Date
      due to the failure of the Company to fulfill its obligations hereunder, unless
      such failure is directly caused by comments received by the Commission relating
      to Rule 415 of the Securities Act of 1933, as amended, in which case no penalty
      shall be due, the Company shall be required to issue, as liquidated damages,
      to
      each of the Holders shares (the “Penalty Shares”) equal to a total of 0.0333% of
      their respective Shares for each calendar day that the Registration Statement
      has not been filed or declared effective by the SEC (and until the Registration
      Statement is filed with or declared effective by the SEC), as applicable.

     

    1.2  Limitation
      to Registration Requirement.
      Notwithstanding the foregoing, no Penalty Shares shall be due to the Holders
      if
      the Company is using its best efforts to cause the Registration Statement to
      be
      filed and declared effective in a timely manner. In addition, the Company shall
      not be obligated to effect any registration of the Registrable Securities or
      take any other action pursuant to this Section 4: (i) in any particular
      jurisdiction in which the Company would be required to execute a general consent
      to service of process in effecting such registration, qualification or
      compliance unless the Company is already subject to service in such jurisdiction
      and except as may be required by the Act, or (ii) during any period in which
      the
      Company suspends the rights of a Holder after giving each Holder written
      notification of a Potential Material Event (defined below) pursuant to Section
      1.6 hereof. 

     

    1.3  Expenses
      of Registration.
      Except
      as otherwise expressly set forth, the Company shall bear all expenses incurred
      by the Company in compliance with the registration obligation of the Company,
      including, without limitation, all registration and filing fees, printing
      expenses, fees and disbursements of counsel for the Company incurred in
      connection with any registration, qualification or compliance pursuant to this
      Agreement and all underwriting discounts, selling commissions and expense
      allowances applicable to the sale of any securities by the Company for its
      own
      account in any registration. All underwriting discounts, selling commissions
      and
      expense allowances applicable to the sale by Holder of Registrable Securities
      and all fees and disbursements of counsel for the Holder shall be borne by
      the
      Holder.

     

    1.4  Indemnification.

     

    (a)  To
      the
      extent permitted by law the Company will indemnify each Holder, each of its
      officers, directors, agents, employees and partners, and each person controlling
      such Holder, with respect to each registration, qualification or compliance
      effected pursuant to this Agreement, and each underwriter, if any, and each
      person who controls any underwriter, and their respective counsel against all
      claims, losses, damages and liabilities (or actions, proceedings or settlements
      in respect thereof) arising out of or based on (i) any untrue statement (or
      alleged untrue statement) of a material fact contained in any prospectus,
      offering circular or other document prepared by the Company (including any
      related registration statement, notification or the like) incident to any such
      registration, qualification or compliance, or (ii) any omission (or alleged
      omission) to state therein a material fact required to be stated therein or
      necessary to make the statements therein not misleading, or any violation by
      the
      Company of the Act or any rule or regulation thereunder applicable to the
      Company and relating to action or inaction required of the Company in connection
      with any such registration, qualification or compliance, and subject to the
      provisions of Section 1.4(c) below, will reimburse each such Holder, each of
      its
      officers, directors, agents, employees and partners, and each person controlling
      such Holder, each such underwriter and each person who controls any such
      underwriter, for any legal and any other expenses as they are reasonably
      incurred in connection with investigating and defending any such claim, loss,
      damage, liability or action, provided that the Company will not be liable in
      any
      such case to the extent that any such claim, loss, damage, liability or expense
      arises out of or is based on any untrue statement (or alleged untrue statement)
      or omission (or alleged omissions) based upon written information furnished
      to
      the Company by (or on behalf of) such Holder or underwriter, or if the person
      asserting any such loss, claim, damage or liability (or action or proceeding
      in
      respect thereof did not receive a copy of an amended preliminary prospectus
      or
      the final prospectus (or the final prospectus as amended and supplemented)
      at or
      before the written confirmation of the sale of such Registrable Securities
      to
      such person because of the failure of the Holder or underwriter to so provide
      such amended preliminary or final prospectus (or the final prospectus as amended
      and supplemented); provided, however, that the indemnity agreement contained
      in
      this subsection shall not apply to amounts paid in settlement of any such loss,
      claim, damage, liability or action if such settlement is effected without the
      consent of the Company (which consent shall not be unreasonably withheld),
      nor
      shall the Company be liable in any such case for any such loss, claim, damage,
      liability or action to the extent that it arises out of or is based upon a
      violation which occurs in reliance upon and in conformity with written
      information furnished expressly for use in connection with such registration
      by
      the Holder, any such partner, officer, director, employee, agent or controlling
      person of such Holder, or any such underwriter or any person who controls any
      such underwriter; provided, however, that the obligations of the Company
      hereunder shall be limited to an amount equal to the portion of net proceeds
      represented by the Registrable Securities pursuant to this
      Agreement.

     

    
      
        
        

      

      
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    (b)  To
      the
      extent permitted by law, each Holder whose Registrable Securities are included
      in any registration, qualification or compliance effected pursuant to this
      Agreement will indemnify the Company, and its directors, officers, agents,
      employees and each underwriter, if any, of the Company’s securities covered by
      such a registration statement, each person who controls the Company or such
      underwriter within the meaning of the Act and the rules and regulations
      thereunder, each other such Holder and each of their officers, directors,
      partners, agents and employees, and each person controlling such Holder, and
      their respective counsel against all claims, losses, damages and liabilities
      (or
      actions in respect thereof) arising out of or based on any untrue statement
      (or
      alleged untrue statement) of a material fact contained in any such registration
      statement, prospectus, offering circular or other document, or any omission
      (or
      alleged omission) to state therein a material fact required to be stated therein
      or necessary to make the statements therein not misleading, and will reimburse
      the Company and such Holders, directors, officers, partners, persons,
      underwriters or control persons for any legal or any other expenses as they
      are
      reasonably incurred in connection with investigating or defending any such
      claim, loss, damage, liability or action, in each case to the extent, but only
      to the extent, that such untrue statement (or alleged untrue statement) or
      omission (or alleged omission) is made in such registration statement,
      prospectus, offering circular or other document in reliance upon and in
      conformity with written information furnished to the Company by such Holder;
      provided,
      however,
      that
      the obligations of any Holder hereunder shall be limited to an amount equal
      to
      the net proceeds to such Holder from Registrable Securities sold under such
      registration statement, prospectus, offering circular or other document as
      contemplated herein; provided, further, that the indemnity agreement contained
      in this subsection shall not apply to amounts paid in settlement of any such
      loss, claim, damage, liability or action if such settlement is effected without
      the consent of the Holder, which consent shall not be unreasonably withheld
      or
      delayed.

     

    
      
        
        

      

      
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    (c)  Each
      party entitled to indemnification under this Section (the “Indemnified Party”)
      shall give notice to the party required to provide indemnification (the
“Indemnifying Party”) promptly after such Indemnified Party has actual knowledge
      of any claim as to which indemnity may be sought, and shall permit the
      Indemnifying Party to assume the defense of any such claim or any litigation
      resulting therefrom, provided that counsel for the Indemnifying Party, who
      shall
      conduct the defense of such claim or any litigation resulting therefrom, shall
      be approved by the Indemnified Party (whose approval shall not unreasonably
      be
      withheld), and the Indemnified Party may participate in such defense at such
      party’s expense; and provided further that if any Indemnified Party reasonably
      concludes that there may be one or more legal defenses available to it that
      are
      not available to the Indemnifying Party, or that such claim or litigation
      involves or could have an effect on matters beyond the scope of this Agreement,
      then the Indemnified Party may retain its own counsel at the expense of the
      Indemnifying Party; and provided further that the failure of any Indemnified
      Party to give notice as provided herein shall not relieve the Indemnifying
      Party
      of its obligations under this Agreement unless and only to the extent that
      such
      failure to give notice results in material prejudice to the Indemnifying Party.
      No Indemnifying Party, in the defense of any such claim or litigation, shall,
      except with the consent of each Indemnified Party, consent to entry of any
      judgment or enter into any settlement which does not include as an unconditional
      term thereof the giving by the claimant or plaintiff to such Indemnified Party
      of a release from all liability in respect to such claim or litigation. Each
      Indemnified Party shall furnish such information regarding itself or the claim
      in question as an Indemnifying Party may reasonably request in writing and
      as
      shall be reasonably required in connection with defense of such claim and
      litigation resulting therefrom.

     

    (d)  If
      the
      indemnification provided for in this Section is held by a court of competent
      jurisdiction to be unavailable to an Indemnified Party with respect to any
      loss,
      liability, claim, damage or expense referred to herein, then the Indemnifying
      Party, in lieu of indemnifying such Indemnified Party hereunder, shall
      contribute to the amount paid or payable by such Indemnified Party as a result
      of such loss, liability, claim, damage or expense in such proportion as is
      appropriate to reflect the relative fault of the Indemnifying Party on the
      one
      hand and of the Indemnified Party on the other in connection with the statements
      or omissions which resulted in such loss, liability, claim, damage or expense
      as
      well as any other relevant equitable considerations. The relative fault of
      the
      Indemnifying Party and of the Indemnified Party shall be determined by reference
      to, among other things, whether the untrue or alleged untrue statement of a
      material fact or the omission to state a material fact relates to information
      supplied by the Indemnifying Party or by the Indemnified Party and the parties’
relative intent, knowledge, access to information and opportunity to correct
      or
      prevent such statement or omission.

     

    1.5  Transfer
      or Assignment of Registration Rights.
      The
      Registrable Securities, and any related benefits to the Holder hereunder may
      be
      transferred or assigned by the Holder to a permitted transferee or assignee,
      provided that the Company is given written notice of such transfer or
      assignment, stating the name and address of said transferee or assignee and
      identifying the Registrable Securities with respect to which such registration
      rights are being transferred or assigned; provided further that the transferee
      or assignee of such Registrable Securities shall be deemed to have assumed
      the
      obligations of the Holder under this Agreement by the acceptance of such
      assignment and shall, upon request from the Company, evidence such assumption
      by
      delivery to the Company of a written agreement assuming such obligations of
      the
      Holder.

     

    
      
        
        

      

      
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    1.6  Registration
      Procedures.
      In the
      case of the registration effected by the Company pursuant to this Agreement,
      the
      Company will keep the Holder advised in writing as to the initiation of each
      registration and as to the completion thereof. The Company will:

     

    (a)  Prepare
      and file with the SEC such amendments and supplements to such registration
      statement and the prospectus used in connection with such registration statement
      as may be necessary to comply with the provisions of the Act with respect to
      the
      disposition of securities covered by such registration statement;

     

    (b)  Respond
      as promptly as reasonably practicable to any comments received from the SEC
      with
      respect to a registration statement or any amendment thereto.

     

    (c)  Notify
      the Holder as promptly as reasonably practicable and (if requested by any such
      person) confirm such notice in writing no later than one trading day following
      the day (A) when a prospectus or any prospectus supplement or post-effective
      amendment to a registration statement is proposed to be filed and (B) with
      respect to a registration statement or any post-effective amendment, when the
      same has become effective; 

     

    (d)  Furnish
      such number of prospectuses and other documents incident thereto, including
      supplements and amendments, as the Holder may reasonably request; 

     

    (e)  Furnish
      to the Holder, upon request, a copy of all documents filed with and all
      correspondence from or to the SEC in connection with any such registration
      statement other than non-substantive cover letters and the like;

     

    (f)  Use
      its
      reasonable best efforts to avoid the issuance of, or, if issued, obtain the
      withdrawal of (i) any order suspending the effectiveness of a registration
      statement, or (ii) any suspension of the qualification (or exemption from
      qualification) of any of the Registrable Securities for sale in any
      jurisdiction, at the earliest practicable moment; and

     

    (g)  Use
      its
      reasonable best efforts to comply with all applicable rules and regulations
      of
      the SEC.

     

    Notwithstanding
      the foregoing, if at any time or from time to time after the date hereof, the
      Company notifies the Holder in writing of the existence of an event or
      circumstance that is not disclosed in the Registration Statement and that may
      have a material effect on the Company or its business (a “Potential Material
      Event”), the Holder shall not offer or sell any Registrable Securities, or
      engage in any other transaction involving or relating to the Registrable
      Securities, from the time of the giving of notice with respect to a Potential
      Material Event until the Company notifies the Holder that such Potential
      Material Event either has been added to the Registration Statement by amendment
      or supplement or no longer constitutes a Potential Material Event; provided,
      that
      the Company may not so suspend the right of Holder for more than one hundred
      twenty (120) days in the aggregate. 

     

    
      
        
        

      

      
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    1.7  Statement
      of Beneficial Ownership.
      The
      Company may require the Holder to furnish to the Company a certified statement
      as to the number of shares of Common Stock beneficially owned, including
      derivative instruments underlying Common Stock, by such Holder and the
      controlling person thereof and any other such information regarding the Holder,
      the Registrable Securities held by the Holder and the intended method of
      disposition of such securities as shall be reasonably required with respect
      to
      the registration of the Holder’s Registrable Securities. The Holder hereby
      understands and agrees that the Company may, in its sole discretion, exclude
      the
      Holder’s shares of Common Stock from the Registration Statement in the event
      that the Holder fails to provide such information requested by the Company
      within the time period reasonably specified by the Company or is required to
      do
      so by law or the SEC.

     

    1.8  Compliance.
      Holder
      covenants and agrees that such Holder will comply with the prospectus delivery
      requirements of the Act as applicable to such Holder in connection with sales
      of
      Registrable Securities pursuant to the registration statement required
      hereunder.

     

    1.9  Piggy-Back
      Registrations.
      If at
      any time during the Effectiveness Period there is not an effective registration
      statement covering all of the Registrable Securities and the Company shall
      determine to prepare and file with the SEC a registration statement relating
      to
      an offering for its own account or the account of others under the Act of any
      of
      its Common Stock, other than an offering of securities issued pursuant to a
      Strategic Issuance (as defined below) and other than a Form S-4 or Form S-8
      registration statement (each as promulgated under the Act or their then
      equivalents relating to equity securities to be issued solely in connection
      with
      any business combination transaction, acquisition of any entity or business
      or
      equity securities issuable in connection with stock option or other employee
      benefit plans), then the Company shall send to the Holder (together with any
      other holders of its Common Stock possessing “piggyback registration rights”
comparable to those granted to the Holder hereunder (“Rightsholders”)) written
      notice of such determination and, if within fifteen (15) days after receipt
      of
      such notice, the Holder shall so request in writing, the Company shall include
      in such registration statement all or any part of such Registrable Securities
      such Holder requests to be registered; provided that the Company shall not
      be
      required to register any Registrable Securities pursuant to this Section that
      are eligible for resale pursuant to Rule 144(k) promulgated under the Act;
      and
      provided further that the Company may, without the consent of the Holder,
      withdraw such registration statement before its becoming effective if the
      Company or other stockholders have elected to abandon the proposal to register
      the securities proposed to be registered thereunder. If the registration
      statement is being filed for an underwritten public offering, the Holder must
      timely execute and deliver the usual and customary agreement among the Company,
      such Holder and the underwriters relating to the registration. If the
      registration statement is being filed for an underwritten offer and sale by
      the
      Company of securities for its own account and the managing underwriters advise
      the Company in writing that in their opinion the offering contemplated by the
      registration statement cannot be successfully completed if the Company were
      to
      also register the Registrable Shares of the Holder requested to be included
      in
      such registration statement, then the Company will include in the registration:
      (i) first, any securities the Company proposes to sell, (ii) second, any
      securities of any person whose securities are being registered as a result
      of
      the exercise of a demand registration right, and (iii) third, that portion
      of
      the aggregate number of shares being requested for inclusion in the registration
      statement by (X) the Holder and (Y) all other Rightsholders, which in the
      opinion of such managing underwriters can successfully be sold, such number
      of
      shares to be taken pro
      rata
      from the
      Rightsholders on the basis of the total number of shares being requested for
      inclusion in the registration statement by each Rightsholder. “Strategic
      Issuance” shall mean an issuance of securities: (i) in connection with a
“corporate partnering” transaction or a “strategic alliance” (as determined by
      the Board of Directors of the Company in good faith); (ii) in connection with
      any financing transaction in respect of which the Company is a borrower; or
      (iii) to a vendor, lessor, lender, or customer of the Company, or a research,
      manufacturing or other commercial collaborator of the Company, in a transaction
      approved by the Board of Directors, provided in any case, that such issuance
      is
      not being made primarily for the purpose of avoiding compliance with this
      Agreement.

     

    
      
        
        

      

      
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    2.  Miscellaneous

     

    2.1  Any
      notice or other communication given hereunder shall be deemed sufficient if
      in
      writing and sent by registered or certified mail, return receipt requested,
      addressed to the Company, at Room 1601-1604, 16/F., CRE Centre, 889 Cheung
      Sha
      Wan Road, Kowloon, Hong Kong, Attention: Kwong Kai Shun with
      a copy to
      (which
      shall not constitute notice) Kirkpatrick & Lockhart Preston Gates Ellis LLP,
      10100 Santa Monica Blvd., Seventh Floor, Los Angeles, California 90067,
      Attention: Thomas J. Poletti, Esq., and to the Holder at his or her address
      indicated on the signature page of this Agreement. Notices shall be deemed
      to
      have been given three (3) business days after the date of mailing, except
      notices of change of address, which shall be deemed to have been given when
      received.

     

    2.2  This
      Agreement may only be amended through a written instrument signed by the Holders
      listed in Schedule
      I
      holding
      a majority of the shares as set forth therein, Times, and the
      Company.

     

    2.3  This
      Agreement shall be binding upon and inure to the benefit of the parties hereto
      and to their respective heirs, legal representatives, successors and assigns.
      This Agreement sets forth the entire agreement and understanding between the
      parties as to the subject matter hereof and merges and supersedes all prior
      discussions, agreements and understandings of any and every nature among
      them.

     

    2.4  Notwithstanding
      the place where this Agreement may be executed by any of the parties hereto,
      the
      parties expressly agree that all the terms and provisions hereof shall be
      construed in accordance with and governed by the laws of the State of Delaware.
      

     

    2.5  This
      Agreement may be executed in counterparts. Upon the execution and delivery
      of
      this Agreement, this Agreement shall become a binding obligation of the parties
      hereto. This Agreement may be executed and delivered by facsimile.

     

    2.6  The
      holding of any provision of this Agreement to be invalid or unenforceable by
      a
      court of competent jurisdiction shall not affect any other provision of this
      Agreement, which shall remain in full force and effect.

     

    2.7  It
      is
      agreed that a waiver by either party of a breach of any provision of this
      Agreement shall not operate, or be construed, as a waiver of any subsequent
      breach by that same party.

     

    2.8  The
      parties agree to execute and deliver all such further documents, agreements
      and
      instruments and take such other and further action as may be necessary or
      appropriate to carry out the purposes and intent of this Agreement.

     

    2.9  The
      Company agrees not to disclose the names, addresses or any other information
      about the Holders, except as required by law, provided that the Company may
      provide information relating to the Holder as required in any registration
      statement under the Act that may be filed by the Company pursuant to the
      requirements of this Agreement. 

     

    
      
        
        

      

      
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    2.10  The
      obligation of each Holder hereunder is several and not joint with the
      obligations of any other Holders (the “Other Holders”), and the Holder shall not
      be responsible in any way for the performance of the obligations of any Other
      Holders. Nothing contained herein or in any other agreement or document
      delivered at the Closing, and no action taken by the Holder pursuant hereto,
      shall be deemed to constitute the Holder and the Other Holders as a partnership,
      an association, a joint venture or any other kind of entity, or create a
      presumption that the Holder and the Other Holders are in any way acting in
      concert with respect to such obligations or the transactions contemplated by
      this Agreement. The Holder shall be entitled to protect and enforce the Holder’s
      rights, including without limitation the rights arising out of this Agreement,
      and it shall not be necessary for any Other Holder to be joined as an additional
      party in any proceeding for such purpose. The language used in this Agreement
      will be deemed to be the language chosen by the parties to express their mutual
      intent, and no rules of strict construction will be applied against any party.
      The Holder is not acting as part of a “group” (as that term is used in Section
      13(d) of the 1934 Act) in negotiating and entering into this Agreement or
      purchasing the Shares or acquiring, disposing of or voting any of the underlying
      shares of Common Stock. The Company hereby confirms that it understands and
      agrees that the Holder is not acting as part of any such group.

    

    [SIGNATURE
      PAGE FOLLOWS]

     

    
      
        
        

      

      
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    IN
      WITNESS WHEREOF, the parties have executed this Agreement as of the day and
      year
      first written above.

     

     

    
      	HOLDERS 	 	 	 
	 	 	 	 
	/s/ Richard
              Rappaport	 	 	
            
	
              

              Richard
                Rappaport

            	 	 	
            

    

     

    
      	 	 	 	 
	/s/ 
Anthony
              C. Pintsopoulos	 	 	
            
	
              
 Anthony
              C. Pintsopoulos	 	 	
            

    

    
       

      
        	 	 	 	 
	/s/ Kevin
                DePrimio	 	 	
              
	
                
Kevin
                DePrimio	 	 	
              

      

      
         

        
          	 	 	 	 
	/s/ Jason
                  Stern	 	 	
                
	
                  
Jason
                  Stern	 	 	
                

        

         

         

        

          
            	
                    SRKP
                      9, INC.

                  	
                    TIMES
                      MANUFACTURE & E-COMMERCE 

                    CORPORATION
                      LIMITED

                  

          

           

          
            	By:   	/s/ Richard
                    Rappaport                                    	By:   	/s/
                    Kwong Kai
                    Shu                                     
                     
	Name	Richard
                    Rappaport                                 
                    	Name 	Kwong
                    Kai
                    Shun                                          
	Title 	President                                                
                     	Title 	Chief
                    Executive
                    Officer                               
                     

          

        

      

    

     

    
      
        
        

      

      
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    SCHEDULE
      I

    HOLDERS
      AND REGISTRABLE SECURITIES

    

    

    
      	 	
               

              HOLDER

            	
              NO.
                OF SHARES BEING REGISTERED

            
	
              1.  

            	
              Richard
                Rappaport

            	
              1,332,795

            
	
              2.  

            	
              Anthony
                C. Pintsopoulos

            	
              555,331

            
	
              3.  

            	
              Kevin
                DePrimio

            	
              74,044

            
	
              4.  

            	
              Jason
                Stern

            	
              37,022

            
	 	 	 
	 	
              TOTAL

            	
              1,999,192

            

    

    

    
      
        
        

      

      
        11Strictly
      Confidential

    

    [Reference
      Translation]

    

    

    

    

    

    

    
      
        

      

    

    

    Letter
      of Intent

    

    

    

    
      
        

      

    

    

    

    

    Shandong
      Radio & Broadcasting Newspaper Goup

    

    

    and

    

    Jinan
      Zhong Kuan Dian Guang Information Technology Co. Ltd.

    

    

    

    

    

    

    
 

    

    

    

    

    

    

    

     

    December
      2007

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    LETTER
      OF INTENT

    

    This
      Letter of Intent (LOI)
      is
      dated this fifth day of December 2007

    

    by
      and among

    

    
      	
              (1)

            	
              Shandong
                Radio & Broadcasting Newspaper Group (Party A),
                a
                company incorporated under the laws of the People’s Republic of China
                (PRC)
                with its registered address at No.3, Qingnian East Road, Licheng
                District,
                Jinan, Shandong Province, PRC,
                250011;

            

    

    

    and
      

    

    
      	
              (2)

            	
              Jinan
                Zhong Kuan Dian Guang Information Technology Co.,
                Ltd.
                (Party
                B),
                a company incorporated under the laws of PRC, with its registered
                address
                at
                Room 1014, Wenjiao Tower, No. 1 Qingnian East Road, Jinan, Shandong
                Province, PRC, 250011;

            

    

    

    (individually
      a Party,
      and
      collectively the Parties).

    

      
        	
                1.

              	
                Transaction

              

      

    

    

      
        	 	
                1.1

              	
                Subject
                  to the completion of a satisfactory due diligence within the scope
                  proposed by Party B in accordance with paragraph 2 of this LOI,
                  Party B
                  shall contribute RMB 30,000,000. Party A shall contribute assets,
                  valued
                  at RMB 30,000,000, that are related to business of Shandong Radio
&
                  Broadcasting Newspaper Group (Including TV Weekly Magazine, Movie
                  Times
                  Magazine, and Shandong Radio & Broadcasting Newspaper). The Parties
                  seek to jointly incorporate a company that shall be named, on a
                  temporary
                  basis, Shandong TV Guide Mediao Group Co. Ltd. (New Company), and
                  located
                  in Jinan, in which Party A and Party B shall hold, respectively,
                  50% and
                  50% of the equity interest therein. The business scope of the New
                  Company
                  shall include, without limitation, the technical consulting service,
                  information consulting service, TV program production, advertising
                  design,
                  advertising agency services; and other business operations which
                  are
                  approved by the Parties. 

              

      

      

      
        	 	
                1.2

              	
                When
                  the New Company is incorporated, Party A shall enter into Exclusive
                  Operating Service Agreement (Exclusive Service Agreement) and Exclusive
                  Advertising Agency Agreement (Exclusive Advertising Agreement)
                  with the
                  New Company. The terms set forth in the Exclusive Service Agreement
                  and
                  the format of such agreements shall be to the complete satisfaction
                  of
                  party B. In accordance with these agreements, Party A shall accept
                  the
                  exclusive consultation services related to all newspaper and magazine
                  publishing business and grant the exclusive advertising agency
                  rights to
                  the New Company. (The incorporation of the New Company, the signing
                  of
                  “Exclusive Service Agreement” and “Exclusive Agency Agreement” are
                  collectively named “Transaction”). 

              

      

       

      
        
           

        

        
          -1-

          
            

          

        

        
           

        

      

      

        
          	
                  2.

                	
                  Financial,
                    Technical and Legal Due
                    Diligence

                

        

        
          	 	
                  2.1

                	
                  Party
                    B and its advisors shall undertake financial, technical and legal
                    due
                    diligence of Party A and the companies and entities related to
                    the
                    operations of Party A within 30 days following the signing of
                    this LOI.
                    For the avoidance of doubt, the technical due diligence will
                    examine
                    details of the user information database, agreements with users,
                    intellectual property and other related aspects of the assets
                    and
                    business. Party B has provided a due diligence checklist and
                    the proposed
                    scope of the due diligence prior to the date of this LOI.
                    

                

        

        

        
          	 	
                  2.2
                    

                	
                  Party
                    A shall use its best efforts to facilitate the due diligence
                    by providing
                    documentation and corporate information in a timely manner upon
                    the
                    request of Party B and its
                    advisors.

                

        

        

        
          	 	
                  2.3

                	
                  Concurrently
                    with and on the basis of the due diligence findings, the Parties
                    agree to
                    discuss and consider the most efficient structures for the Transaction
                    and
                    to devise a restructuring plan to be implemented prior to the
                    closing of
                    the Transaction. 

                

        

        

          
            	
                    3.

                  	
                    Definitive
                      Agreements

                  

          

        

      

    

    

    Subject
      to satisfactory due diligence and agreement on the restructuring plan, within
      45
      days after the signing of this LOI, the Parties agree to sign and, where
      necessary, cause their affiliated persons to sign, a number of agreements for
      the Transaction (Definitive
      Agreements),
      including without limitation: cooperative framework agreement, Exclusive Service
      Agreement, and Exclusive Advertising Agency Agreement. The Parties shall set
      forth specific provisions regarding the restructuring plan in the cooperative
      framework agreement. 

     

    
      
         

      

      
        -2-

        
          

        

      

      
         

      

    

    

      
        	
                4.

              	
                Closing

              

      

    

     

    The
      Parties agree that, unless Party B expressly desires otherwise, the closing
      of
      the Transaction shall be conditional upon the following, namely:

    

      
        	 	
                4.1

              	
                the
                  completion of a full financial and legal
                  due diligence of Party A and its related companies and entities
                  by Party
                  B’s advisors with Party A’s assistance as set forth in paragraph 2 above,
                  and the result of such due diligence is satisfactory to Party B
                  in all
                  material aspects; 

              

      

      

      
        	 	
                4.2

              	
                the
                  Parties having entered into the Definitive Agreements listed in
                  paragraph
                  3 above and having performed their obligations thereunder;
                  

              

      

      

      
        	 	
                4.3

              	
                the
                  restructuring plan having been implemented and completed;
                  and

              

      

      

      
        	 	
                4.4

              	
                all
                  necessary consents and/or approvals being granted by third parties
                  (including governmental authorities) and all subsequent registrations
                  and
                  administrative filings being
                  completed.

              

      

      

        
          	
                  5.

                	
                  Non-Binding
                    Nature

                

        

      

    

    

    The
      Parties agree that, except for paragraphs
      7 and 9 hereof, this LOI is not intended to be a binding agreement, but merely
      reflects the Parties’ understanding to date. After signing hereof, the Parties
      will proceed to undertake further negotiations and to commence with the
      Transaction in accordance with the process specified in paragraph 2 above and
      on
      the basis of this LOI.

    

      
        	
                6.

              	
                Non-Competition

              

      

      

        
          	 	
                  6.1

                	
                  After
                    the completion of the Transaction, Party A shall not, through
                    its
                    shareholders and affiliated companies, without first obtaining
                    the written
                    approval of Party B, operate any business or undertake any cooperation
                    with any third parties that are identical or similar to the
                    Transaction.

                

        

        

        
          	 	
                  6.2

                	
                  Each
                    Party shall minimize any existing or potential conflicts of interest
                    during the Transaction and shall disclose the existence or awareness
                    of
                    any such conflict to the other
                    Party.

                

        

      

    

     

    
      
         

      

      
        -3-

        
          

        

      

      
         

      

    

    

      
        	
                7.

              	
                Confidentiality

              

      

    

     

    The
      Parties agree that all information related to the negotiation of this
      Transaction and any other associated information deemed by any Party to be
      confidential (including, without limitation, information relating to any Party’s
      business and intellectual property rights) disclosed to the other Party during
      the negotiations relating to this LOI will only be used for the purpose of
      the
      Transaction only, and the Parties will take appropriate measures to ensure
      that
      such information will not be acquired by any third party through inappropriate
      means. The obligations of this paragraph
      7 shall survive any termination of the LOI.

    

    If
      either
      Party violates the provisions of this paragraph 7, it shall be liable to the
      other Party for the damages caused thereby.

    

      
        	
                8.

              	
                Good
                  Faith Negotiations

              

      

      
        	 	
                8.1

              	
                The
                  Parties agree to negotiate in good faith to sign the Definitive
                  Agreements
                  and any other documents required for the closing
                  of the Transaction within 30 days
                  after the execution of this LOI.

              

      

      

      
        	 	
                8.2

              	
                If
                  the Transaction cannot be completed within 45 days
                  hereof, all transactions for purposes of the Transaction will immediately
                  cease except for the Parties’ confidentiality obligations specified in
                  paragraph 7 hereof, and neither Party shall be liable to the other
                  Party
                  for any other obligations herein. The timeframe prescribed in this
                  clause
                  may be adjusted through mutual agreement between the
                  Parties.

              

      

    

    

      
        	
                9.

              	
                Exclusivity

              

      

      

        Party
          A
          agrees that, within 60
          days
          from the date hereof: 

      

    

    

      
        	 	
                9.1

              	
                it
                  will negotiate exclusively with Party B with respect to Party
                  A's businesses contemplated in the Transaction (whether by merger,
                  equity sale, asset sale or otherwise), an investment by any person
                  in
                  Party A, or any other transaction inconsistent with the Acquisition
                  contemplated by this LOI, and immediately will terminate any existing
                  negotiations with any other party with respect to any such transaction;
                  

              

      

      

      
        	 	
                9.2

              	
                it
                  will not and will cause its shareholders not to, directly or indirectly
                  (through agents or otherwise), encourage or solicit any inquiries
                  or
                  accept any proposals by, or engage in any discussions or negotiations
                  with
                  or furnish any information to, any other person concerning any
                  such sale
                  or investment; and 

              

      

       

      
        
           

        

        
          -4-

          
            

          

        

        
           

        

      

      

        
          	 	
                  9.3

                	
                  if
                    Party A or any of its shareholders receive any proposal or other
                    communication from a third party relating to a proposed purchase
                    of or
                    investment in Party A's businesses or any portion thereof, Party
                    A will
                    promptly communicate to Party B the substance thereof. Party A
                    will cause its shareholders to observe the terms of this LOI,
                    and Party A
                    will be responsible for any breach of this LOI by any of its
                    shareholders. 

                

        

        
           

          
            	
                    10.

                  	
                    Expenses

                  

          

        

      

    

    

    Each
      Party
      shall pay its own fees and expenses incurred with respect to this LOI and to
      the
      preparation and signing of the documents referred to in paragraph 8.1 above,
      including, without limitation, legal fees, taxes and stamp duties.

    

      
        	
                11.

              	
                Applicable
                  Law 

              

      

    

     

    This
      LOI
      shall be governed by and interpreted in accordance with PRC
      law.

    

      
        	
                12.

              	
                Dispute
                  Resolution 

              

      

    

     

    All
      disputes arising from or in connection with this LOI shall be resolved through
      friendly consultation between the Parties. If the dispute cannot be resolved
      through such consultation, it shall be submitted to the China International
      Economic and Trade Arbitration Commission in Beijing for arbitration, which
      shall be conducted in Chinese in accordance with the Commission’s arbitration
      rules in effect at the time of applying for arbitration. The arbitral award
      shall be final and binding upon the Parties. 

    

      
        	
                13.

              	
                Language
                  and Versions

              

      

    

    

    This
      LOI
      shall be executed in 2 sets of originals and each Party shall receive 1 set
      of
      originals. 

     

    

    [The
      space below is intentionally left blank]

    
      
         

      

      
        -5-

        
          

        

      

      
         

      

    

    IN
      WITNESS WHEREOF,
      the
      Parties have caused this LOI to be executed by their duly authorized
      representatives on the date first written above.

    

     

    

    For
      and on behalf of 

    

    

    Shandong
      Radio & Broadcasting Newspaper Group

    

    Chop: 

    

     

    

    Signature: _________________

    

    Name:
      Ms.
      Liu Hui Lan

    

    Title:
      Publisher/President

    

    

    

    Jinan
      Zhong Kuan Dian Guang Information Technology Co. Ltd.

    

    Chop: 

     

    

    

    Signature: _________________

    

    Name:
      Mr.
      Pu Yue

    

    Title:
      General Manager

     

    
      
         

      

      
        -6-

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