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Unassociated Document

    Execution
      Copy

     

    JOINT
      VENTURE AGREEMENT

     

    BY
      AND AMONG 

     

    ASIA
      LEADER INVESTMENTS LIMITED

     

    RAD
      INTERNATIONAL INVESTMENT FUND LTD.

     

    AND

     

    KEVIN
      MA

    

    Dated:
      February 20, 2007

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    JOINT
      VENTURE AGREEMENT

     

    This
      Joint Venture Agreement of New Goal International Limited is made as of February
      20, 2008 by and among the Persons set forth on Schedule A hereto (collectively,
      the “Joint Venturers”) and, with respect to only the representations,
      warranties, covenants and agreements set forth in Article IX hereof, Mr. Kevin
      Ma (“Kevin Ma”).

     

    A. The
      Joint
      Venturers have formed New Goal International Limited (the “Company”) as a
      company with limited liability under the laws of Hong Kong.

     

    B. The
      Joint
      Venturers are the shareholders in the Company and desire to adopt a joint
      venture company agreement to govern their respective rights and obligations
      in
      the Company.

     

    C. As
      the
      indirect majority shareholder of one of the Joint Venturers RAD, Kevin Ma
      desires to be a party to the representations, warranties, covenants and
      agreements set forth in Article IX hereof.

     

    NOW,
      THEREFORE, in consideration of the mutual covenants contained herein and for
      other good and valuable consideration, the receipt and sufficiency of which
      is
      acknowledged, the parties agree that the following shall be the Joint Venture
      Agreement of the Joint Venturers and Ma relating to the Company. 

     

    ARTICLE
      I

     

    DEFINITIONS

     

    When
      used
      in this Agreement, the following terms have the following meanings:

     

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

     

     

    1.2 “Affiliate”
      of another Person means (a) a Person directly or indirectly (through one or
      more
      intermediaries) Controlling, Controlled by or under common Control with that
      other Person; (b) a Person owning or controlling ten percent (10%) or more
      of the outstanding voting securities or beneficial interests of that other
      Person; 

     

    1.3 “Agreement”
      means this Joint Venture Agreement relating to the Company.

    

    1.4 “Asia
      Leader” means Asia Leader Investments Limited, a company formed under the laws
      of the Special Administrative Region of Hong Kong; 

     

    1.5 “Business”
      means engaging directly or indirectly in financial leasing arrangements and
      other financing services in the following agreed designated industries:
      alternative energy, financial and banking services infrastructure, energy saving
      infrastructure, automobiles and transportation, healthcare, aviation,
      telecommunications other than 2G subscriber financing and 2G network expansion,
      forestry and other industries determined by the Board of Directors of the
      Company.

     

    
      
        
        

      

      
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    1.6 “Business
      Day” means
      any
      day other than a Saturday, Sunday or day on which banking institutions in Hong
      Kong are not open for business.

     

    1.7 “Capital
      Contribution” of a Joint Venturer means the amount of money in cash and
      immediately available funds and the gross Fair Market Value on the date
      contributed of property (net of any liability assumed by the Company in respect
      of such property or to which the property is subject), contributed to the
      capital of the Company by such Joint Venturer, or services rendered by such
      Joint Venturer to or for the benefit of the Company 

     

    1.8 “Company”
      means New Goal International Ltd., a Hong Kong company 

     

    1.9 “Control”
      of a Person means the possession, directly or indirectly, of the power to direct
      or cause the direction of the management and policies of such Person, whether
      through the ownership of voting securities, by contract or otherwise.
“Controlled
      by”, “Controlling” and “under common Control with” shall have correlative
      meanings.

     

    1.10 “Fair
      Market Value” of property means the amount that would be paid for such property
      in cash at the closing by a hypothetical willing buyer to a hypothetical willing
      seller, each having knowledge of all relevant facts and neither being under
      a
      compulsion to buy or sell.
      

     

    1.11 “Fiscal
      Year” means the year ended December 31.

    

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

     

    1.13 “Joint
      Venturer” means a Person designated on Schedule A as a Joint Venturer, and any
      other Person that is admitted as a Joint Venturer pursuant to the provisions
      of
      this Agreement, in each case until such Person ceases to be a Joint Venturer
      of
      the Company.

     

    1.14 “Material
      Adverse Effect” means, any change, effect or circumstance which, individually or
      in the aggregate, would reasonably be expected to have a material adverse effect
      on the business, assets, financial condition or results of operations of a
      Person.

    

    1,15 “NCIL”
      means New Century International Leasing Co., Ltd., a wholly foreign-owned
      enterprise formed under the laws of the PRC.

     

    1.16 “Person”
      means any entity, corporation, company, association, joint venture, joint stock
      company, partnership (including a general partnership, limited partnership
      and
      limited liability partnership), limited liability company, trust, real estate
      investment trust, organization, individual, nation, state, government (including
      any agency, department, bureau, board, division and instrumentality thereof),
      trustee, receiver or liquidator.

     

    
      
        
        

      

      
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    1.17 “PRC”
      means the People’s Republic of China, including for these purposes the Special
      Administrative Regions of Hong Kong and Macau.

     

    1.18 “RAD”
      means RAD International Investment Fund Ltd., a company formed under the laws
      of
      the Commonwealth of The Bahamas.

     

    1.19 “Transfer”
      means a sale, assignment, transfer, other disposition, pledge, hypothecation
      or
      other encumbrance, whether direct or indirect, whether voluntary, involuntary
      or
      by operation of law, and whether for value or not, including any transfer by
      gift, devise, intestate succession, sale, operation of law, upon the termination
      of a trust, as a result of or in connection with any property settlement or
      judgment incident to a divorce, dissolution of marriage or separation, by decree
      of distribution or other court order.

     

    1.20 “WFOE”
      means the wholly foreign-owned enterprise with a financial leasing license
      to be
      established pursuant to Section 2.6.

     

    ARTICLE
      II

     

    ORGANIZATIONAL
      MATTERS

     

    2.1 Name.
      The
      name of the Company shall be “New Goal International Limited” The
      Business of the Company shall be conducted under that name. The Company shall
      promptly notify
      the Joint Venturers of any change in the name of the Company.

     

    2.2 Term.
      The
      term of the Company’s existence commenced upon the compliance with Hong Kong
      formation procedures and shall continue indefinitely.

     

    2.3 Office.
      The
      principal office of the Company shall initially be located at Suite 3203A,
      32/F
      Central Plaza, 18 Harbour Road, Wanchai, Hong Kong. 

     

    2.4 Purpose
      of Company.
      The
      purpose of the Company shall be to engage in the Business, and any activities
      incidental thereto or connected therewith. 

     

    2.5 Joint
      Venturers.
      The
      name, address, facsimile and Capital Contribution and share ownership percentage
      of each Joint Venturer is set forth on Schedule A. The Company shall amend
      Schedule A to reflect any change pursuant to this Agreement of which the Company
      is aware in any of the foregoing with respect to any Joint
      Venturer.

     

    2.6 Qualification.
      The
      Company shall qualify to do business in each jurisdiction where the Joint
      Venturers determine that such qualification is required and shall as soon as
      practicable following the receipt of the Capital Contributions pursuant to
      Section 3.1.1 file an application to establish a wholly foreign-owned enterprise
      in Beijing with a financial leasing license organized in accordance with the
      laws of the PRC.
      The WFOE
      shall be one hundred (100%) percent owned by the Company.

    

    2.7 Amendment
      of Memorandum and Articles of Association.
      The
      Joint Venturers shall amend the existing memorandum and articles of association
      of the Company in order to make such memorandum and articles to be consistent
      in
      all respects with the terms and conditions of this Agreement. In the event
      of
      any inconsistency between this Agreement and the memorandum and articles of
      association of the Company, this Agreement shall prevail.

     

    
      
        
        

      

      
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    ARTICLE
      III

     

    CAPITAL
      CONTRIBUTIONS

     

    3.1 Capital
      Contributions.

     

    3.1.1 Capital
      Contributions.
      Each
      Joint Venturer will contribute to the Company the Capital Contribution specified
      opposite such Joint Venturer’s name on Schedule A, the receipt of which will be
      acknowledged by the Company, on the Contribution Date (as defined in Section
      3.4). The
      Capital Contribution to be made by Asia Leader shall be US$70,000,000 in the
      form of cash subject to adjustment as set forth in Section 3.1.2. The Capital
      Contribution to be made by RAD shall be in the form of RAD obtaining for the
      Company the following agreements:

     

    (a) Exclusive
      cooperation agreement between the Company and NCIL substantially in the form
      of
      Exhibit A to be agreed and attached within fourteen (14) days of the date hereof
      (the “Exclusive Cooperation Agreement”)

     

    (b) Three
      framework contracts substantially in the forms set forth in Exhibit B to be
      agreed and attached within fourteen (14) days of the date hereof, which shall
      include the framework contract for ATM among the Company, NCIL, the supplier
      and
      the lessee (the “ATM Framework Contract”), the framework contract for
      automobiles among the Company, NCIL and the supplier (the “Automobile Framework
      Contract”), and the framework contract for windmills among the Company, NCIL and
      the supplier (the “Windmill Framework Contract”);

     

    (c) Three
      trust lease contracts substantially in the forms set forth in Exhibit C to
      be
      agreed and attached within fourteen (14) days of the date hereof, which shall
      include the trust lease contract for ATM between the Company and NCIL (the
“ATM
      Trust Lease Contract”), the trust lease contract for automobiles between the
      Company and NCIL (the “Automobile Trust Lease Contract”), and the trust lease
      contract for windmills between the Company and NCIL (the “Windmill Trust Lease
      Contract”);

    

    (d) Three
      lease contracts substantially in the forms set forth in Exhibit D to be agreed
      and attached within fourteen (14) days of the date hereof, which shall include
      the lease contract for ATM between the NCIL and each lessee (the “ATM Lease
      Contract”), the lease contract for automobiles between NCIL and each lessee (the
“Automobile Lease Contract”), and the lease contract for windmills between the
      NCIL and each lessee (the “Windmill Lease Contract”);

    

    (e) Three
      supply contracts substantially in the forms set forth in Exhibit E to be agreed
      and attached within fourteen (14) days of the date hereof, which shall include
      the supply contract for ATM among the Company, NCIL, the supplier and and each
      lessee (the “ATM Supply Contract”), the supply contract for automobiles among
      the Company, NCIL and the supplier (the “Automobile Supply Contract”), and the
      supply contract for windmills among the Company, NCIL and the supplier (the
      “Windmill Supply Contract”);

     

    
      
        
        

      

      
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    (f) Arranger
      Agreements substantially in the form of Exhibit F to be agreed and attached
      within fourteen (14) days of the date hereof (the “Arranger
      Agreements”);

     

    (g) Right
      of
      first refusal agreement executed and dated as of the date hereof in the form
      of
      Exhibit G (the “Right of First Refusal Agreement”);

     

    (h) Joint
      venture contracts between the Company and the following three PRC entities
      or
      their nominees, 中汽乾坤汽炚租犿北京有榰公司,
      北京东宏汽炚租犿有榰公司,
      and
中山市明槍电器厂,
      which
      contracts shall be signed within ninety (90) days of the Contribution Date
      (the
“Joint Venture Contracts”); and 

     

    (i) Temporary
      assistance to the Company until the WFOE receives its official business license
      authorizing it to engage in the financial leasing business in the PRC (with
      such
      assistance to be provided at cost by RAD to the Company).

    

    3.1.2 Adjustment
      to Asia Leader’s Capital Contribution.
      The
      parties agree that the value of the equipment purchased by the Company pursuant
      to the Supply Agreements shall amount to US$70,000,000. However, in the event
      that the value of such equipment shall be less than US$70,000,000 the amount
      of
      Asia Leader’s Capital Contribution shall be decreased by the same amount,
      provided that in no event shall the value of such equipment as set forth in
      the
      Supply Agreements be less than US$50,000,000. 

     

    3.1.3 No
      Further Capital Contributions.
      Except
      as set forth in this Section 3.1, no Joint Venturer shall be required to make
      any capital contribution or lend money to the Company.

     

    3.2 No
      Interest.
      No
      Joint Venturer shall be entitled to receive any interest on his Capital
      Contributions.

     

    3.3 Share
      Certificates.
      The
      Company shall issue certificates representing the shares of stock contemplated
      by Schedule A.

    

    3.4 Conditions
      to Capital Contributions.
      Subject
      to the terms and conditions of this Agreement, the making of the capital
      contributions of the Joint Venturers shall be subject on or prior to the date
      on
      which the last of conditions set forth in this Section 3.4 has been satisfied
      or
      waived by the relevant Joint Venturer (the “Contribution Date”).

     

    
      
        
        

      

      
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    3.4.1 Conditions
      to Obligations of Asia Leader. The
      obligations of Asia Leader to make its capital contributions shall be subject
      to
      the fulfillment or its waiver of each of the following conditions:

    

    (a) Representations,
      Warranties, and Covenants.
      The
      representations, warranties and covenants of RAD and Kevin Ma contained in
      this
      Agreement shall have been true and correct when made and shall be true and
      correct as of the Contribution Date with the same force and effect as if made
      as
      of the Contribution Date; RAD and Kevin Ma shall have performed all obligations
      under this Agreement required to be performed by them as of the Contribution
      Date.

     

    (b) No
      Proceeding or Litigation.
      No
      Action shall have been commenced or threatened by or before any Governmental
      Authority against RAD, NCIL (as defined in Section 9.1) or Kevin Ma seeking
      to
      restrain or materially and adversely alter the transactions contemplated hereby
      or which is likely to render it impossible or unlawful to consummate the
      transactions contemplated by this Agreement or that could have a Material
      Adverse Effect.

     

    (c) Consents
      and Approvals.
      RAD and
      NCIL shall have received or made all required filings and approvals from all
      Government Authorities and notices to or required consents of any other third
      parties (including the stockholder approval if required) for the consummation
      of
      the transactions contemplated by this Agreement.

     

    (d) Signature
      and Effectiveness of Agreements.
      The
      Company shall have received the following duly signed agreements, which
      agreements shall be effective as of the Contribution Date: Exclusive Cooperation
      Agreement, ATM Framework Contract, Automobile Framework Contract, ATM Trust
      Lease Contract, Automobile Trust Lease Contract, ATM Lease Contract, ATM Supply
      Contract, Automobile Supply Contract and the Arranger Agreements. In addition,
      Asia Leader may at its option require that RAD shall obtain for the Company
      the
      following duly signed agreements, which agreements shall be effective as of
      the
      Contribution Date, as conditions to be fulfilled under this Section 3.4.1:
      Windmill Framework Contract, Windmill Trust Lease Contract, Windmill Lease
      Contract, Windmill Supply Contract and certain Automobile Lease
      Contracts.

     

    (e) No
      Material Adverse Effect.
      No
      event or events shall have occurred, or be reasonably likely to occur, which,
      individually or in the aggregate, have, or could have, a Material Adverse Effect
      on the business or operations of NCIL or its ability to perform its obligations
      under the Exclusive Cooperation Agreement, ATM Framework Contract, Automobile
      Framework Contract, ATM Trust Lease Contract, Automobile Trust Lease Contract,
      ATM Lease Contract, ATM Supply Contract, Automobile Supply Contract, Arranger
      Agreements, Right of First Refusal Agreement or any of the contracts that Asia
      Leader shall require under the second sentence of Section 3.4.1(d) to be signed
      and effective as of the Contribution Date .

     

    
      
        
        

      

      
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    (f) Opinions. Asia
      Leader shall have received from (i) PRC counsel to NCIL a legal opinion
      addressed to Asia Leader with respect to PRC legal matters in form and substance
      reasonably satisfactory to Asia Leader and its legal counsel dated the
      Contribution Date; and (ii) Bahamas counsel to RAD a legal opinion addressed
      to
      Asia Leader in form and substance reasonably satisfactory to Asia Leader and
      its
      legal counsel dated the Contribution Date.

     

    (g) Buyout
      Documents.
      Asia
      Leader shall have received the documents referred to in Section 5.3.3, including
      without limitation the Share Transfer Certificate and the release from
      RAD.

     

    (h) Resolutions.
      Asia
      Leader shall have received true and complete copies, certified by a duly
      authorized director or corporate officer of RAD, of the resolutions duly and
      validly adopted by the Board of Directors of RAD and, if necessary, the
      resolutions of the shareholders of RAD evidencing RAD’s and such shareholders’
authorization of RAD’s execution, delivery and performance of this
      Agreement.

     

    (l) Consulting
      Agreement. 
      Asia Leader and the Company shall have received a duly executed original of
      the
      consulting agreement between the Company and Shanghai Century Capital
      Corporation (“SHCC”), a corporation in the process of formation in the
      accordance with the laws of the Cayman Islands owned by the current Co-Chief
      Executive Officers of Shanghai Century Acquisition Corporation, pursuant to
      which SHCC will provide certain management consulting services to the Joint
      Venture in consideration of a total of US$1,600,000 in fees, payable in three
      installments of US$600,000 on the Closing Date, US$500,000 on January 1, 2009
      and US$500,000 on January 1, 2010.

     

    3.4.2 Conditions
      to Contributions of RAD. The
      obligations of RAD to make its capital contributions shall be subject to the
      fulfillment or its waiver of each of the following conditions:

    

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

     

    (b) No
      Proceeding or Litigation.
      No
      Action shall have been commenced by or before any Governmental Authority against
      Asia Leader seeking to restrain or materially and adversely alter the
      transactions contemplated by this Agreement or which is likely to render it
      impossible or unlawful to consummate the transactions contemplated by this
      Agreement.

     

    
      
        
        

      

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

     

    (d) Option
      to Purchase. RAD
      shall
      have received from Asia Leader the original of its notice to exercise the Buyout
      Option and a copy of the wiring instructions to effect payment of such purchase
      of such shares of the Company owned by RAD.

     

    (e) Cash
      Capital Contribution of Asia Leader.
      The
      Company shall have received the cash capital contribution of Asia Leader as
      set
      forth in Sections 3.1.1 and 3.1.2.

     

    3.5 Conditions
      Subsequent.
      

     

    (a) Joint
      Venture Contracts.
      Within
      ninety (90) days following the Contribution Date, RAD shall obtain for the
      Company the duly signed three Joint Venture Contracts with the three Chinese
      entities or their nominees as set forth in Section 3.1.1(h). 

    

    (b) Automobile
      Lease Contracts.
      Within
      six (6) months following the Contribution Date, RAD shall obtain for the Company
      all those duly signed Automobile Lease Contracts designated by the Company
      that
      were not previously signed and became effective at the Contribution
      Date.

    

    (c) Windmill
      Contracts.
      If Asia
      Leader does not require all of the windmill-related contracts set forth in
      the
      second sentence of Section 3.4.1(d) to be signed and become effective on the
      Contribution Date, then the Company shall have the right to require RAD to
      obtain for the Company within six (6) months following the Contribution Date
      AD
      any or all of the Windmill Framework Contract, Windmill Trust Lease Contract,
      Windmill Lease Contract and Windmill Supply Contract .

    

    ARTICLE
      IV

    

    MANAGEMENT
      AND CONTROL OF THE COMPANY

     

    4.1 Management
      by the Board
      of Directors

     

    4.1.1 Exclusive
      Management by the Board.
      The
      business, property and affairs of the Company shall be managed exclusively
      by
      its Board of Directors, which shall consist of three (3) members and shall
      have
      full, complete and exclusive authority, power and discretion to manage and
      control the business, property and affairs of the Company, to make all decisions
      regarding those matters, to bind the Company and to perform any and all other
      actions customary or incident to the management of the Company’s business,
      property and affairs and no Joint Venturer shall have any right or power to
      participate in the management of the Company or to bind the Company. Asia Leader
      shall appoint two (2) directors and RAD shall appoint one (1) director. Each
      Joint Venturers may at any time replace any of the directors it
      appoints.

     

    
      
        
        

      

      
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    4.1.2 Initial
      Designation.
      Asia
      Leader initially designates Richard Li and Mr. Hong Da Pan to serve as directors
      of the Company, RAD initially designates Kevin Ma to serve as a director of
      the
      Company. The Joint Venturers agree that Kevin Ma shall serve as the chief
      executive officer of the Company.

     

    4.1.3 Arm’s
      Length Transactions.
      Without
      the unanimous consent of the Board of Directors of the Company, any transaction
      or fees between the Company and a Joint Venturer or an Affiliate of a Joint
      Venturer shall be at arm’s length, upon terms no less favorable to the Company
      than would be obtained from unrelated third parties dealing at arm’s length. The
      Joint Venturers agree that the terms and provisions of this Agreement and the
      transactions contemplated hereby satisfy such standard.

     

    ARTICLE
      V

     

    TRANSFER
      OF INTERESTS

     

    5.1 Transfer
      of Interests.
      Except
      as otherwise expressly provided in this ARTICLE V, no Joint Venturer may
      Transfer all or any portion of its
      shares in the Company. Any attempted Transfer in violation of this ARTICLE
      V
      hereof shall be null and void ab
      initio,
      and
      shall not bind the Company.

     

    5.2 Enforcement.
      Upon
      application to any court of competent jurisdiction, a Joint Venturer shall
      be
      entitled to a decree against any Person violating or about to violate such
      restrictions, requiring their specific performance, including those requiring
      or prohibiting
      a Transfer of all or a portion of his Interest. 

     

    5.3 Option
      to Purchase. 

     

    5.3.1 Grant
      of Option.
      RAD
      hereby grants Asia Leader the exclusive option (the “Buyout Option”) to purchase
      all of its shares in the Company at any time following the date hereof, on
      an
      all or none basis and at a purchase price of US$31,800,000.

     

    5.3.2 Notice
      and Election.
      If Asia
      Leader exercises the Buyout Option, it shall provide notice in writing to such
      effect to RAD in accordance with Section 10.5. In the event such exercise of
      the
      Buyout Option is to be effected simultaneously with the acquisition of Asia
      Leader by Shanghai Century Acquisition Corporation (“Shanghai”), the closing of
      the Buyout Option shall take place concurrently with the closing of the
      acquisition of Asia Leader by Shanghai and no notice shall be required under
      this Section 5.3.2.

     

    
      
        
        

      

      
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    5.3.3 Closing.
      The
      closing of a sale of RAD’s shares of the Company pursuant to Section 5.3.1 (the
“Option Shares”) shall take place at the principal office of the Company at
      10:00 a.m. local time on the tenth (10th) day after notice provided in Section
      5.3.2 is made, or at such other place, date and time as the Joint Venturers
      may
      agree. The purchase price for the Option Shares pursuant to Section 5.3.1 shall
      be paid in cash at the closing. RAD shall execute and deliver to the purchasing
      Asia Leader such documents as Asia Leader may reasonably request to effect
      the
      transfer, including without limitation a duly signed share transfer certificate
      (the “Share Transfer Certificate”) and take all necessary action to ensure the
      performance of the obligations and responsibilities of NCIL under the agreements
      set forth in Sections 3.1.1(a), (b), (c), (d) and (g) and as set forth in
      Section 3.1.1(i). In addition, RAD shall release the Company and Asia Leader
      from any claim arising out of or pursuant to this Agreement.

     

    ARTICLE
      VI

     

    ACCOUNTING,
      RECORDS AND REPORTING 

     

    6.1 Books
      and Records.
      

     

    6.1.1 Maintenance
      and Access.
      The
      books and records of the Company shall be kept, and the financial position
      and
      the results of its operations recorded, in accordance with the Company’s method
      of accounting, consistently applied. The books and records of the Company shall
      reflect all Company transactions and shall be appropriate and adequate for
      the
      Company’s business. The Company shall maintain all of the following at its
      principal office, with copies available at all times during normal business
      hours for inspection and copying upon reasonable notice by any Joint Venturer
      or
      his authorized representatives for any purpose reasonably related to the
      Interest of that Joint Venturer:

     

    (a) true
      and
      full information regarding the status of the business and financial condition
      of
      the Company; 

     

    (b) promptly
      after becoming available, a copy of the Company’s tax returns, if any, for each
      Fiscal Year;

     

    (c) a
      current
      list of the full name and last known business, residence or mailing address
      of
      each Joint Venturer and directors and officers of the Company;

     

    (d) a
      copy of
      this Agreement and the organizational documents of the Company and all
      amendments thereto, together with executed copies of any written powers of
      attorney pursuant to which this Agreement or such organizational documents
      or
      any amendments thereto have been executed; and

     

    (e) true
      and
      full information regarding the amount of cash and a description and statement
      of
      the agreed value of any other property or services contributed by each Joint
      Venturer and which each Joint Venturer has agreed to contribute in the
      future.

     

    
      
        
        

      

      
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    6.2 Reports.

     

    6.2.1 Governmental
      Reports.
      The
      Company shall cause to be filed all documents and reports required to be filed
      with any governmental agency.

     

    6.2.2 Tax
      Reports.
      The
      Company shall cause to be prepared and duly and timely filed, at the Company’s
      expense, all tax returns required to be filed by the Company.

     

    6.3 Confidentiality.
      All
      books, records, financial statements, tax returns, budgets, business plans
      and
      projections of the Company, all other information concerning the business,
      affairs and properties of the Company and all of the terms and provisions of
      this Agreement shall be held in confidence by each Joint Venturer and their
      respective Affiliates, subject to any obligation to comply with (i) any
      applicable law, (ii) any rule or regulation of any legal authority or securities
      exchange, or (iii) any subpoena or other legal process to make information
      available to the Persons entitled thereto. Such confidentiality shall be
      maintained until such time, if any, as any such confidential information either
      is, or becomes, published or a matter of public knowledge (other than as a
      result of a breach of this Section 6.3 by such Person or its Affiliate).

     

    ARTICLE
      VII

     

    LIMITATION
      OF LIABILITY; STANDARD OF CARE; INDEMNIFICATION

     

    7.1 Limitation
      of Liability.
      The
      debts, obligations and liabilities of the Company, whether arising in contract,
      tort or otherwise, shall be solely the debts, obligations and liabilities of
      the
      Company. No Joint Venturer, director or officer of the Company shall be
      obligated personally for any such debt, obligation or liability of the Company
      solely by reason of being a Joint Venturer or acting as a director or officer
      of
      the Company.
      Notwithstanding anything contained herein to the contrary, the failure of the
      Company to observe any formality or requirement relating to the exercise of
      its
      powers or the management of its business and affairs shall not be grounds for
      imposing personal liability on any Joint Venturer for any debt, obligation
      or
      liability of the Company.

     

    7.2 Indemnification.
      The
      Company shall indemnify and hold harmless, to the fullest extent permitted
      by
      applicable law, any Person made, or threatened to be made, a party to an action
      or proceeding, whether civil, criminal or investigative (a “proceeding”),
      including an action by or in the right of the Company, by reason of the fact
      that such Person was or is a Joint Venturer, director or officer of the Company
      or of any of the foregoing, from and against all judgments, fines, amounts
      paid
      in settlement and reasonable expenses (including investigation, accounting
      and
      attorneys’ fees) incurred as a result of such proceeding, or any appeal therein;
provided,
      however,
      that
      nothing contained herein shall permit any Person to be indemnified or held
      harmless if and to the extent the liability sought to be indemnified or held
      harmless against results from a judgment or other final adjudication adverse
      to
      such Person that establishes that his acts were committed in bad faith or were
      the result of active and deliberate dishonesty and were material to the cause
      of
      action so adjudicated. The termination of any such civil or criminal proceeding
      by judgment, settlement, conviction or upon a plea of nolo
      contendere,
      or its
      equivalent, shall not in itself create a presumption that any such Person did
      not act in good faith, for a purpose which he reasonably believed to be in,
      or
      not opposed to, the best interests of the Company, that he did not exercise
      reasonable care in selecting an employee, independent contractor or agent,
      that
      an act or omission involved actual fraud or willful misconduct, or that he
      had
      reasonable cause to believe that his conduct was unlawful. The
      Company’s indemnification obligations hereunder shall survive the termination of
      the Company. Each indemnified Person shall have a claim against the net assets
      of the Company for payment of any indemnity amounts from time to time due,
      which
      amounts shall be paid or properly reserved for prior to the making of
      distributions by the Company to the Joint Venturers. 

     

    
      
        
        

      

      
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    7.3 Contract
      Right; Expenses.
      The
      right to indemnification conferred in this ARTICLE VII shall be a contract
      right. The Company may advance the expenses incurred by the indemnified Person
      in defending any such proceeding in advance of its final disposition,
      provided such Person agrees to repay any amount that it is ultimately determined
      such Person is not entitled to receive under this ARTICLE VII.

     

    7.4 Indemnification
      of Employees and Agents.
      In
      addition to the indemnification provided in Sections 7.2, the Company may grant
      rights to indemnification and to advancement of expenses to any employee,
      independent contractor or agent of the Company or to their officers, directors,
      shareholders, partners, Joint Venturers, managers, employees, independent
      contractors or agents, up to the extent provided to an indemnified Person
      pursuant to Section 7.2. 

     

    7.5 Nonexclusive
      Right.
      The
      right to indemnification and the payment of expenses incurred in defending
      a
      proceeding in advance of its final disposition conferred in this ARTICLE VII
      shall not be exclusive of any other right which any Person may have or hereafter
      acquire under any statute or agreement, or under any insurance policy obtained
      for the benefit of any indemnified Person. 

     

    7.6 Severability.
      If any
      provision of this ARTICLE VII is determined to be unenforceable in whole or
      in
      part, such provision shall nonetheless be enforced to the fullest extent
      permissible, it being the intent of this ARTICLE VII to provide indemnification
      to all Persons eligible hereunder to the fullest extent permitted by applicable
      law.

     

    ARTICLE
      VIII

     

    JOINT
      VENTURER REPRESENTATIONS

     

    Each
      Joint Venturer represents and warrants to the other Joint Venturers and the
      Company as follows:

     

    8.1 Authority.
      The
      Joint Venturer has the requisite power and authority to enter into this
      Agreement. The execution and delivery of this Agreement and the consummation
      of
      the transactions contemplated hereby do not violate any other agreement to
      which
      the Joint Venturer is a party. This Agreement constitutes a valid and binding
      agreement of the Joint Venturer, enforceable against the Joint Venturer in
      accordance with its terms, except that (a) such enforcement may be subject
      to
      bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance and
      other laws, whether now or hereafter in effect, relating to or limiting
      creditors’ rights generally, and (b) enforcement of this Agreement may be
      subject to equitable defenses and to the discretion of the court before which
      any proceeding therefore may be brought.

     

    
      
        
        

      

      
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    8.2 Preexisting
      Relationship or Experience.
      By
      reason of the Joint Venturer’s business or financial experience, or by reason of
      the business or financial experience of the Joint Venturer’s financial advisor
      who is unaffiliated with and who is not compensated, directly or indirectly,
      by
      the Company or any Affiliate or selling agent of the Company, the Joint Venturer
      is capable of evaluating the risks and merits of an investment in his Interest
      and of protecting the Joint Venturer’s own interests in connection with the
      investment.

     

    8.3 Access
      to Information.
      The
      Joint Venturer has had an opportunity to review all documents, records and
      books
      pertaining to this investment and has been given the opportunity to consult
      with
      counsel of its choice with respect to all aspects of this investment and the
      Company’s proposed business activities. To the extent desired, such Joint
      Venturer has been provided with such information as may have been requested
      and
      has at all times been given the opportunity to obtain additional information
      necessary to verify the accuracy of the information received and the opportunity
      to ask questions of and receive answers concerning the terms and conditions
      of
      the investment and the nature and prospects of the Company’s
      business.

     

    8.4 Economic
      Risk.
      The
      Joint Venturer is financially able to bear the economic risk of an investment
      in
      his Interest, including the total loss thereof.

     

    8.5 Investment
      Intent.
      The
      Joint Venturer is acquiring shares in the Company for investment purposes and
      for the Joint Venturer’s own account only and not with a view to, or for sale in
      connection with, any distribution of all or any part of such shares. Except
      for
      the shareholders, partners or Joint Venturers of the Joint Venturer, no other
      Person will have any direct or indirect beneficial interest in, or right to,
      such shares.

     

    8.6 Consultation
      with Attorney.
      The
      Joint Venturer has been advised to consult with his own attorney regarding
      all
      legal and tax matters concerning an investment in the Company, has had adequate
      opportunity to do so, and has done so to the extent it considers necessary
      or
      advisable. The Joint Venturer acknowledges and agrees that it has not received
      or relied on any legal or tax advice from the Company, their Affiliates or
      any
      of their representatives.

     

    8.7 Conflict.
      The
      Joint Venturer acknowledges and understands that the interests of each Joint
      Venturer may be different with respect to this Agreement. The Joint Venturer
      waives any conflict of interest that may exist with respect to the preparation
      of this Agreement.

     

    
      
        
        

      

      
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    ARTICLE
      IX

     

    REPRESENTATIONS,
      WARRANTIES, COVENANTS AND AGREEMENTS REGARDING NEW CENTURY INTERNATIONAL
      LIMITED

     

    RAD
      and
      Kevin Ma jointly and severally hereby represent, warrant and covenant to Asia
      Leader and the Company as of the date hereof and as of the Contribution Date
      with the same force and effect as if made as of the Contribution Date as follows
      (except in each instance as specifically disclosed in a corresponding Schedule
      to this Agreement); provided, however, in respect of any event or change of
      circumstance occurring during the period from the day following the date hereof
      up to and including the Contribution Date, Kevin Ma shall not be held liable
      for
      any misrepresentation of breach of warranty resulting from such event or
      circumstance beyond the control of Kevin Ma, RAD or NCIL and such event or
      circumstance was not contributed to by the default, negligence, failure to
      take
      prudent action of follow any request, notice or instruction of any Governmental
      Authority, fraud or other wrongdoing of any kind by any of Kevin Ma, NCIL,
      RAD
      or any of their respective directors, officers, employees or
      agents:

     

    9.1 Organization
      and Qualification.
      NCIL
      has been duly organized, validly existing and in good standing under the laws
      of
      the PRC, and has all requisite authority and power (corporate and other),
      governmental licenses, authorizations, consents and approvals to carry on its
      business as presently conducted and to own, hold and operate its properties
      and
      assets as now owned, held and operated, except where the failure to be so
      organized, existing and in good standing or to have such authority and power,
      governmental licenses, authorizations, consents or approvals would not have
      a
      Material Adverse Effect. All registered capital and other capital contributions
      shall have been duly paid up in accordance with the relevant PRC regulations
      and
      requirements and all necessary capital verification reports have been duly
      issued and not revoked.

     

    9.2 Subsidiaries.
      Except
      as set forth on Schedule 9.2, NCIL does not own directly or indirectly, any
      equity or other ownership interest in any corporation, partnership, joint
      venture or other entity or enterprise.

     

    9.3 Articles
      of Association.
      True,
      correct and complete certified translated copies of the articles of association
      and the business license of NCIL have been delivered to the Joint Venturers
      prior to the execution of this Agreement, and no action has been taken to amend
      or repeal such organizational documents. NCIL is not in violation or breach
      of
      any of the provisions of its organizational documents, except for such
      violations or breaches as, would not have a Material Adverse
      Effect.

     

    9.4 Authority.
      

     

    9.4.1 The
      execution and delivery of this Agreement does not violate any other agreement
      to
      which Kevin Ma is a party. This Agreement constitutes a valid and binding
      agreement of Kevin Ma, enforceable against Kevin Ma in accordance with its
      terms, except that (a) such enforcement may be subject to bankruptcy,
      insolvency, reorganization, moratorium, fraudulent conveyance and other laws,
      whether now or hereafter in effect, relating to or limiting creditors’ rights
      generally, and (b) enforcement may be subject to equitable defenses and to
      the
      discretion of the court before which any proceeding therefore may be
      brought.

     

    
      
        
        

      

      
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    9.4.2 NCIL
      has
      the requisite power and authority to enter into those agreements attached as
      exhibits to this Agreement to which it is a party (collectively, the
“NCIL
      Agreements”).
      The
      execution and delivery of the NCIL Agreements and the consummation of the
      transactions contemplated thereby do not violate any other agreement to which
      NCIL is a party. Each NCIL Agreement constitutes a valid and binding agreement
      of NCIL, enforceable against NCIL in accordance with its terms, except that
      (a)
      such enforcement may be subject to bankruptcy, insolvency, reorganization,
      moratorium, fraudulent conveyance and other laws, whether now or hereafter
      in
      effect, relating to or limiting creditors’ rights generally, and (b) enforcement
      of such NCIL Agreement may be subject to equitable defenses and to the
      discretion of the court before which any proceeding therefore may be
      brought.

     

    9.5 No
      Violation.
      Neither
      the execution nor the delivery of this Agreement or any Exhibit hereto, nor
      the
      consummation or performance of the transactions contemplated hereby or thereby
      will, directly or indirectly, (provided that the representations and warranties
      in paragraphs (b), (c) and (d) below are made by Kevin Ma subject to the best
      of
      his knowledge after due inquiry) (a) contravene, conflict with, or result in
      a
      violation of any provision of the organizational documents of NCIL; (b)
      contravene, conflict with, constitute a default (or an event or condition which,
      with notice or lapse of time or both, would constitute a default) under, or
      result in the termination or acceleration of, or result in the imposition or
      creation of any lien under, any agreement or instrument to which NCIL is a
      party
      or by which the properties or assets of NCIL are bound; (c) contravene, conflict
      with, or result in a violation of, any law or order to which NCIL, or any of
      the
      properties or assets owned or used by NCIL, may be subject; or (d) contravene,
      conflict with, or result in a violation of, the terms or requirements of, or
      give any governmental authority the right to revoke, withdraw, suspend, cancel,
      terminate or modify, any licenses, permits, authorizations, approvals,
      franchises or other rights held by the NCIL or that otherwise relate to the
      business of, or any of the properties or assets owned or used by, NCIL, except,
      in the case of clause (b), (c), or (d), for any such contraventions, conflicts,
      violations, or other occurrences as would not have a Material Adverse Effect.
      

    

    9.6 Capitalization
      of NCIL.
      The
      capitalization of NCIL is set forth on Schedule 9.5. There are no other
      outstanding shares of capital stock or voting securities and no outstanding
      commitments to issue any shares of capital stock or voting securities after
      the
      date hereof. The total equity interest of NCIL set forth on such schedule have
      been duly authorized, validly issued, fully paid and non-assessable, are free
      of
      any liens or encumbrances other than any liens or encumbrances created by or
      imposed upon the holders thereof, and are not subject to preemptive rights
      or
      rights of first refusal created by statute, their respective organizational
      documents or any agreement to which NCIL is a party or by which it is bound
      (except as contemplated by Exhibit G hereto), and such shares constitute all
      of
      the issued and outstanding capital stock of NCIL. The owners of the equity
      interest of NCIL named in Schedule 9.5 own, and have good, valid and marketable
      title to, all the equity interest of NCIL. There are no outstanding or
      authorized options, warrants, purchase agreements, participation agreements,
      subscription rights, conversion rights, exchange rights or other securities
      or
      contracts with respect to the equity of NCIL. There are no outstanding
      stockholders’ agreements, voting trusts or arrangements, rights of first refusal
      or other contracts pertaining to the equity of NCIL. None of the outstanding
      equity interests of NCIL has been issued in violation of any rights of any
      Person or in violation of any law. There are no outstanding contractual
      obligations (contingent or otherwise) of the Company to retire, repurchase,
      redeem or otherwise acquire any of its equity of, or other ownership interests
      in, the Company or to provide funds to or make any investment (in the form
      of a
      loan, capital contribution or otherwise) in any other Person.

     

    
      
        
        

      

      
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    9.7 Compliance
      with Laws and Other Instruments.
      Except
      as would not have a Material Adverse Effect, the business and operations of
      NCIL
      have been and are being conducted in accordance with all applicable laws and
      orders, provided that such representation and warranty in this Section 9.7
      is
      made by Kevin Ma subject to the best of his knowledge after due inquiry. Except
      as would not have a Material Adverse Effect, NCIL has not received notice of
      any
      violation (or any proceeding involving an allegation of any violation) of any
      applicable law or order by or affecting NCIL and, to the knowledge of the NCIL,
      no proceeding involving an allegation of violation of any applicable law or
      order is threatened or contemplated.

     

    9.8 Filings,
      Consents and Approvals.
      NCIL is
      not required to obtain any consent, waiver, authorization or order of, give
      any
      notice to, or make any filing or registration with, any court or other federal,
      state, local or other governmental authority or other Person in connection
      with
      the execution, delivery and performance of this Agreement by the Joint Venturers
      or any Exhibit hereto.

     

    9.9 Regulatory
      Permits.
      NCIL
      possesses or has applied for all certificates, authorizations and permits issued
      by the appropriate central, provincial, local or foreign regulatory authorities
      necessary to conduct its business and to perform its obligations under the
      NCIL
      Agreements, except where the failure to possess such permits would not,
      individually or in the aggregate, have a Material Adverse Effect (“Material
      Permits”),
      and
      NCIL has not received any notice of proceedings relating to the revocation
      or
      modification of any Material Permit.

     

    9.10 Compliance
      with PRC Anti-Corruption Laws. 
      None of NCIL, its Affiliates and their respective directors, officers,
      employees, representatives or agents has violated any applicable PRC laws that
      prohibit directly or indirectly making any payment (including any kick-back
      or
      commission) or giving any other thing of value (including fee, gift, travel
      expense or entertainment) to any person who is an official, officer, agent,
      employee or representative of any governmental authority or any existing or
      prospective customer (whether or not government-owned) in order to gain any
      business, commercial or financial advantage or benefit; provided that such
      representation and warranty in this Section 9.10 is made by Kevin Ma subject
      to
      the best of his knowledge after due inquiry..

     

    9.11 Patents
      and Trademarks.
      NCIL
      either owns, free and clear of all liens and encumbrances, or have rights to
      use, all patents, patent applications, trademarks, trademark applications,
      service marks, trade names, copyrights, domain names, software databases,
      computer programs, licenses and other similar rights that are necessary or
      material for use in connection with its business and which the failure to so
      own
      or have such rights could reasonably be expected to result in a Material Adverse
      Effect (collectively, the “Intellectual Property Rights”). NCIL has not (i)
      received any notice or other claim, written or oral, that the Intellectual
      Property Rights owned or used by NCIL violate or infringe upon the rights of
      any
      Person, or (ii) received any invitation to license any intellectual property
      rights of any Person in order to avoid such a violation or infringement. To
      the
      knowledge of NCIL, there is no existing infringement of any of the Intellectual
      Property Rights by any Person. NCIL has taken reasonable measures to protect
      and
      preserve its Intellectual Property Rights, including maintaining the secrecy
      and
      confidentiality of its trade secrets.

     

    
      
        
        

      

      
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    9.12 Litigation.
      Except
      as set forth on Schedule 9.12, there is no action, suit, inquiry, notice of
      violation, proceeding or investigation pending or, to the best knowledge of
      RAD
      or Kevin Ma after due inquiry, threatened against or affecting the NCIL or
      its
      properties or business before or by any court, arbitrator, governmental or
      administrative agency or regulatory authority (federal, state, county, local
      or
      foreign) (collectively, an “Action”) which: (i) adversely affects or challenges
      the legality, validity or enforceability of this Agreement or any Exhibit hereto
      or (ii) could, if there were an unfavorable decision, individually or in the
      aggregate, have or reasonably be expected to result in a Material Adverse Effect
      on the business and operations of NCIL.

     

    9.13 Taxes.
      For
      purposes of this Agreement, the following terms have the following meanings:
      “Tax” (and, with correlative meaning, “Taxes” and “Taxable”) means (i) any net
      income, alternative or add-on minimum tax, gross income, gross receipts, sales,
      use, ad valorem, transfer, franchise, profits, license, withholding, payroll,
      employment, excise, severance, stamp, occupation, premium, property,
      environmental or windfall profit tax, custom, duty or other tax, governmental
      fee or other like assessment or charge of any kind whatsoever, together with
      any
      interest or any penalty, addition to tax or additional amount imposed by any
      governmental entity (a “Tax authority”) responsible for the imposition of any
      such tax (domestic or foreign); (ii) any liability for the payment of any
      amounts of the type described in (i) as a result of being a member of an
      affiliated, consolidated, combined or unitary group for any Taxable period;
      and
      (iii) any liability for the payment of any amounts of the type described in
      (i)
      or (ii) as a result of being a transferee of or successor to any person, as
      a
      result of any express or implied obligation to indemnify any other person,
      including pursuant to any Tax sharing or Tax allocation agreement, as a result
      of being a responsible person, or otherwise. “Tax Return” means any return,
      statement, report or form (including, without limitation, claims for refunds
      or
      credits, estimated Tax returns and reports, withholding Tax returns and reports
      and information reports and returns) filed or required to be filed with respect
      to Taxes.

     

    (a)
      all
      Tax Returns required to be filed by or on behalf of NCIL and its subsidiaries
      have been timely filed and all Tax Returns filed by or on behalf of NCIL and
      its
      subsidiaries were (at the time they were filed) and are true, correct and
      complete in all respects; (b) all Taxes of NCIL and its subsidiaries (whether
      or
      not reflected on any Tax Return) have been fully and timely paid, (c) no waivers
      or extensions of statutes of limitation have been given or requested with
      respect to NCIL or its subsidiaries in connection with any Tax Returns or with
      respect to any Taxes payable by it; (d) no governmental entity in a jurisdiction
      where NCIL or its subsidiaries do not file Tax Returns has made a claim,
      assertion or threat to NCIL or its subsidiaries s that it is or may be subject
      to taxation by such jurisdiction; (e) each of NCIL and its subsidiaries has
      duly
      and timely collected or withheld, and paid over and reported to the appropriate
      governmental entity all amounts required to be so collected or withheld and
      paid
      over for all periods under all applicable laws; (f) there are no liens with
      respect to Taxes on NCIL or its subsidiaries or any of their property or assets;
      (g) there are no Tax rulings, requests for rulings, or closing agreements
      relating to NCIL or its subsidiaries for any period (or portion of a period)
      that would affect any period after the date hereof; and (h) any adjustment
      of
      Taxes of NCIL or its subsidiaries made by a governmental entity in any
      examination that NCIL or its subsidiaries is required to report to the
      appropriate Tax Authority has been reported, and any additional Taxes due with
      respect thereto have been paid.

     

    
      
        
        

      

      
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    (b)
      there
      is no pending proceeding with respect to any Taxes of NCIL or its subsidiaries,
      nor, to the knowledge of RAD and Kevin Ma, is any such proceeding threatened.
      NCIL has made available to the Company prior to the date of this Agreement,
      true, correct and complete copies of all Tax Returns, examination reports and
      statements of deficiencies assessed or asserted against or agreed to by NCIL
      or
      its subsidiaries since their inception and any and all correspondence with
      respect to the foregoing.

     

    9.14 Indemnification.
      RAD and
      Kevin Ma hereby jointly and severally agree to indemnify and hold the Company
      and Asia Leader harmless from any and all losses, liabilities, obligations,
      claims, contingencies, damages, costs and expenses, including all judgments,
      amounts paid in settlements, court costs and reasonable attorneys’ fees and
      costs of investigation that any such party may suffer or incur as a result
      of or
      relating to (i) any breach of any of the representations, warranties, covenants
      or agreements made by RAD or Kevin Ma in this Agreement or (ii) any action
      instituted against the Company, or Asia Leader or their respective Affiliates,
      with respect to any of the transactions contemplated by this Agreement or any
      Exhibit hereto if such action is based upon a breach of the representation,
      warranties or covenants by RAD or Kevin Ma under this Agreement. If any action
      shall be brought against any such party in respect of which indemnity may be
      sought pursuant to this Section 9.11, such party shall promptly notify RAD
      and
      Kevin Ma in writing, and they shall have the right to assume the defense thereof
      with counsel of their own choosing. Any such party shall have the right to
      employ separate counsel in any such action and participate in the defense
      thereof, but the fees and expenses of such counsel shall be at the expense
      of
      such party except to the extent that (A) the employment thereof has been
      specifically authorized by RAD and Kevin Ma in writing; or (B) RAD and Kevin
      Ma
      have failed after a reasonable period of time to assume such defense and to
      employ counsel. Notwithstanding any other provision of this Agreement to the
      contrary, any of representations, warranties, covenants or agreement made by
      RAD
      or Kevin Ma in this Agreement and the indemnities given by RAD and Kevin Ma
      pursuant to this Section 9.14 shall survive until the second anniversary of
      the
      Contribution Date and the maximum liability of RAD and Kevin Ma shall not exceed
      US$31,800,000; provided, however, the making of such representations,
      warranties, covenants and agreements shall be subject to Asia Leader making
      its
      Capital Contribution on the Contribution Date.

     

    
      
        
        

      

      
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    9.15 Access
      to Information.
      RAD and
      Kevsubject to in Ma shall arrange for Asia Leader to have an opportunity to
      review all documents, records and books pertaining to NCIL and NCIL’s business
      activities and to ask questions of and receive answers concerning the business
      and operations of NCIL as it shall determine, upon reasonable advance notice
      and
      during ordinary business hours.

     

    ARTICLE
      X

     

    MISCELLANEOUS

     

    10.1 Amendments.
      Except
      as otherwise provided herein, no amendment, supplement, modification or
      restatement to this Agreement shall be valid or effective unless in writing
      and
      authorized by both Joint Venturers.

     

    10.2 Offset
      Privilege.
      The
      Company may offset against any monetary obligation owing from the Company to
      any
      Joint Venturer any monetary obligation then owing from that Joint Venturer
      to
      the Company.

     

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

     

    
      
        
        

      

      
        20

        
          

        

      

      
        
        

      

    

     

    10.4 Public
      Announcements.
      No
      party to this Agreement shall make, or cause to be made, any press release
      or
      public announcement in respect of this Agreement or the transactions
      contemplated hereby or otherwise communicate with any news media without the
      prior written consent of the other party, and the parties shall cooperate as
      to
      the timing and contents of any such press release or public announcement;
      provided, however, in the event an agreement for the acquisition of Asia Leader
      is signed, the acquirer of Asia Leader shall be entitled to make such press
      releases, public announcements and other public disclosures of this Agreement
      and the transactions contemplated hereby as deemed appropriate by such acquirer.
      

     

    10.5 Notices.
      Any
      notice or other communication (collectively, “notice”) to be given to the
      Company or either Joint Venturer in connection with this Agreement shall be
      in
      writing and will be deemed to have been given and received (a) on the date
      delivered if by courier or other means of personal delivery, (b) on the date
      sent by telecopy with automatic confirmation by the transmitting machine showing
      the proper number of pages were transmitted without error, (c) on the next
      Business Day after being sent by a internationally recognized overnight mail
      service in time for and specifying next day or next Business Day delivery,
      or
      (d) on the fifth (5th)
      day
      after mailing by international certified or registered mail, in each case
      postage prepaid and with any other costs necessary for delivery paid by the
      sender. Any such notice must be given, if to the Company, to the Company at
      its
      principal place of business, and if to any Joint Venturer, to such Joint
      Venturer at the address specified on Schedule A. Any party may by notice
      pursuant to this Section 10.5 designate another address as the new address
      to
      which notice must be given.

     

    10.6 Fees
      and Expenses.
      Each
      party shall bear his own fees and expenses in connection with this transaction;
      provided,
      however,
      that
      the fees and expenses of Loeb & Loeb LLP in connection with the preparation
      of this Agreement and any related documents shall be borne by the
      Company.
      If the
      cash Capital Contributions to be made by Asia Leader set forth in Section 3.1.1
      is not made prior to April 30, 2008, then RAD shall be entitled to receive
      a
      non-performance fee of US$350,000, provided however that no such fee shall
      be
      paid in the event: (i) RAD, Kevin Ma or any of its or his Affiliates or Asia
      Leader failing to fulfill the Conditions to Obligations of Asia Leader set
      forth
      in Section 3.4.1or taking any action that would adversely affect the timely
      completion of such transactions; (ii) any material breach hereof the RAD or
      Kevin Ma, including the failure to deliver the legal opinions set forth in
      Section 4.41(f); (iii) any material breach by Richard Li of the Stock Purchase
      Agreement (the “Stock Purchase Agreement”) between Shanghai Century Acquisition
      Corporation (“Shanghai Century”) and Richard Li; (iv) an event of force
      majeure, including
      any circumstances beyond the control of the parties, including without
      limitation, existing or future law or regulation, any existing or future act
      of
      governmental authority, act of God, flood, war whether declared or undeclared,
      terrorism, riot, rebellion, civil commotion, strike, lockout, other industrial
      action, general failure of electricity or other supply, aircraft collision,
      technical failure, accidental or mechanical or electrical breakdown, computer
      failure or failure of any money transmission system; (v) any change in law
      or
      imposition of any requirement of any regulatory approval in the People’s
      Republic of China for the consummation of the Stock Purchase Agreement, the
      Company engaging in the Business or NCIL’s execution, delivery and
      implementation of the NCIL Agreements; (vi) any
      event or
      events have occurred, or information has become known or any condition exist
      that could, individually or in the aggregate, a Material Adverse Effect on
      (A)
      the proposed properties, business, operations, assets, liabilities or condition
      (financial or otherwise) of the Company, taken as a whole, (B) the ability
      of
      any of the parties hereto to perform their respective obligations hereunder
      or
      under the Stock Purchase Agreement, (C) the validity or enforceability of any
      of
      this Agreement, the Stock Purchase Agreement or any of the NCIL Agreements,
      (D)
the
      business of NCIL
      or
      its ability to perform its obligations under any of the NCIL
      Agreements
      or (E)
      the leasing market in the PRC; or (viii) the
      results of Asia Leader’s business, legal and financial due diligence of NCIL or
      RAD shall reveal any undisclosed material fact or circumstance that would have
      a
      Material Adverse Effect regarding the proposed Business of the Company or the
      ability of RAD or Kevin Ma to perform its or his obligations
      hereunder.

     

    
      
        
        

      

      
        21

        
          

        

      

      
        
        

      

    

     

    10.7 Waiver.
      No
      course of dealing or omission or delay on the part of any party hereto in
      asserting or exercising any right hereunder shall constitute or operate as
      a
      waiver of any such right. No waiver of any provision hereof shall be effective,
      unless in writing and signed by or on behalf of the party granting the waiver.
      No waiver shall be deemed a continuing waiver or waiver in respect of any other
      or subsequent breach or default, unless expressly so stated in
      writing.

     

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

     

    10.9 Remedies.
      Notwithstanding the foregoing, in the event of any actual or prospective breach
      or default by any party, the other parties shall be entitled to equitable
      relief, including remedies in the nature of injunction and specific performance
      (without being required to post a bond or other security or to establish any
      actual damages). In this regard, the parties acknowledge and agree that they
      will be irreparably damaged in the event this Agreement is not specifically
      enforced, since (among other things) the Interests are not readily
      marketable.
      In
      addition, the parties hereby waive and renounce any defense to such equitable
      relief that an adequate remedy at law may exist.

     

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

     

    
      
        
        

      

      
        22

        
          

        

      

      
        
        

      

    

     

    10.11 Severability.
      The
      provisions hereof are severable and in the event that any provision of this
      Agreement shall be determined to be illegal, invalid or unenforceable in any
      respect by a court of competent jurisdiction, the remaining provisions hereof
      shall not be affected, but shall, subject to the discretion of such court,
      remain in full force and effect, and any illegal, invalid or unenforceable
      provision shall be deemed, without further action on the part of the parties
      hereto, amended and limited to the extent necessary to render such provision,
      as
      so amended and limited, legal, valid and enforceable, it being the intention
      of
      the parties that this Agreement and each provision hereof shall be legal, valid
      and enforceable to the fullest extent permitted by applicable law.

     

    10.12 Counterparts.
      This
      Agreement may be executed in counterparts, each of which shall be deemed an
      original, but all of which together shall constitute one and the same
      agreement.

     

    10.13 Further
      Assurances.
      Each
      party hereto shall promptly execute, deliver, file or record such agreements,
      instruments, certificates and other documents and take such other actions as
      the
      Company may reasonably request or as may otherwise be necessary or proper to
      carry out the terms and provisions of this Agreement and to consummate and
      perfect the transactions contemplated hereby. Failure to comply with this
      Section 10.13 shall be considered a breach of a material provision.

     

    10.14 Assignment.
      Except
      as otherwise provided herein, this Agreement, and any right, interest or
      obligation hereunder, may not be assigned by any party hereto without the prior
      written consent of each other party hereto. Any purported assignment without
      such consent shall be null and void ab
      initio
      and
      without effect.

     

    10.15 Binding
      Effect.
      This
      Agreement shall be binding upon and inure to the benefit of the parties hereto
      and their respective legal representatives, successors and permitted
      assigns.

     

    10.16 No
      Third Party Beneficiary.
      This
      Agreement is not intended, and shall not be deemed, to create or confer any
      right or interest for the benefit of any Person not a party hereto.

     

    10.17 Titles
      and Captions.
      The
      titles and captions of the Articles, Sections and Exhibits of this Agreement
      are
      for convenience of reference only and do not in any way define or interpret
      the
      intent of the parties or modify or otherwise affect any of the provisions hereof
      and shall not have any affect on the construction or interpretation of this
      Agreement.

     

    10.18 Construction.
      This
      Agreement shall not be construed against any party by reason of such party
      having caused this Agreement to be drafted.

     

    
      
        
        

      

      
        23

        
          

        

      

      
        
        

      

    

     

    10.19 Usage.
      References in this Agreement to “Articles,” “Sections,” “Schedules” and
“Exhibits” shall
      be
      to the Articles, Sections, Schedules and Exhibits of
      this
      Agreement, unless otherwise specifically provided; all Schedules and
      Exhibits are
      incorporated herein by reference; any use in this Agreement of the singular
      or
      plural, or to the masculine, feminine or neuter gender, shall be deemed to
      include the others, unless the context otherwise requires; the words “herein,”
“hereof” and “hereunder” and words of similar import, when used in this
      Agreement, shall refer to this Agreement as a whole and not to any particular
      provision of this Agreement; the words “include,” “includes” and “including” and
      words of similar import when
      used
      in this Agreement shall be deemed to be followed by the phrase “without
      limitation;” the words “or,” “either” and “any” shall not be exclusive; any
      reference in this Agreement to a “day” (without explicit qualification as a
      Business Day) shall be interpreted as referring to a calendar day; if any action
      is required to be taken or notice is required to be given on or by a particular
      day, and such day is not a Business Day, then such action or notice shall be
      considered timely if it is taken or given on or before the next Business Day;
      each of the words “property” and “assets” includes property and assets of any
      kind, whether real or personal, tangible or intangible; except as otherwise
      specified in this Agreement, all references in this Agreement to any
      agreement, document, certificate or other written instrument shall be a
      reference to such agreement, document, certificate or instrument, in each case
      together with all exhibits, schedules, attachments and appendices thereto,
      and
      as amended, supplemented, restated, or otherwise modified from time to time
      in
      accordance with the terms thereof; and except as otherwise specified in this
      Agreement, all references in this Agreement to any law, statute or
      regulation shall be references to such law, statute or regulation as the same
      may be supplemented, amended, consolidated, superseded or modified from time
      to
      time.

     

    10.20 Entire
      Agreement.
      This
      Agreement together with the Exhibits attached hereto constitute the entire
      understanding and agreement among the parties hereto with respect to the subject
      matter hereof and supersedes all prior and contemporaneous understandings and
      agreements relating thereto (written or oral), all of which are merged
      herein.

     

    
      
        
        

      

      
        24

        
          

        

      

      
        
        

      

    

     

    IN
      WITNESS WHEREOF, the parties hereto have executed this Agreement, effective
      as
      of the date first written above.

    
      	 	 	 
	 	
              ASIA
                LEADER INVESTMENTS LIMITED

            
	 
 	 
 	 
 
	
            	By:  	/s/
              Richard Li
	 	 

              Name: 
                

            	
              

              Richard
                Li

            
	 	
               

              
                Title:

              

            	
              

              Director

            
	 	
              

            

    

     

    
      	 	 	 
	 	
              RAD
                INTERNATIONAL INVESTMENT FUND LTD.

            
	 
 	 
 	 
 
	
            	By:  	/s/ Kevin
              Ma
	 	
               

              Name: 
                

            	
              
                

              

              Kevin
                Ma

            
	 	
               

              Title:

            	
              
Director
	 	
              

            

    

     

    Only
      with
      respect to the representations, warranties, covenants and agreements set forth
      in Article IX hereto:

    
      	 	 	 	 
	 	 	 	 
	
            	 	 	/s/ Kevin
              Ma
	
            	 	 	
              

              Kevin
                Ma

            

    

     

    
      
        
        

      

      
        25

        
          

        

      

       

    

     

    SCHEDULE
      A

     

    NAMES,
      ADDRESSES, CAPITAL CONTRIBUTIONS, AND 

     

    PERCENTAGES
      OF THE JOINT VENTURERS 

     

    AS
      OF FEBRUARY 20, 2008

    

    
      	
              Name,
                address and facsimile number

            	 	
              Capital
                Contribution

            	 	
              Percentage

            
	
               

              Asia
                Leader Investments Limited

              Room
                1101, 11/F China Insurance Group Building,

              141
                Des Voeux Road Central,

              Hong
                Kong 

               

              Fax:
                (852) 2878-7033 

            	 	
               

              Up
                to $70,000,000 subject to Section 3.1.2

            	 	
               

               67%

            
	
               

              RAD
                International Investments Company Limited

              Sassoon
                House

              Shirley
                Street and Victoria Avenue

              City
                of Nassau

              P.O.
                Box N-272

              Nassau,
                Bahamas

               

              Fax:
                (8610) 6505-2926

            	 	
               

              Agreements
                and obligations set forth in Section 3.1.1.

            	 	
               

              33%

              ________

            
	 	 	 	 	
               

              100%

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    SCHEDULE
      9.2

     

    (1)
      

     

    
      
        	
                JV
                  Name:

              	 	
                中税ø北京÷狞务枂樒有榰公司

              
	 	 	 
	
                Location:

              	 	
                Beijing

              
	 	 	 
	
                Percentage
                  Shareholding:

              	 	
                中税务代理有榰公司        
                  60%

              
	 	 	
                新世纪国榻租犿有榰公司 
                  40%

              
	 	 	 
	
                Nature
                  of Business:

              	 	
                Tax
                  related consulting leveraging leasing structures

              
	 	 	 
	
                Incorporation:

              	 	
                Q4
                  2007

              
	 	 	 
	
                Registered
                  Capital:

              	 	
                RMB
                  1m

              
	 	 	 
	
                Term:

              	 	
                10
                  years

              

      

    

    

    (2)
      

     

    
      
        	
                JV
                  Name: 

              	
                 

              	
                中汽乾坤世纪汽炚租犿北京有榰公司

              	 
	 	 	 	 
	
                Location:

              	 	
                Beijing

              	 
	 	 	 	 
	
                Percentage
                  Shareholding:

              	 	
                Han
                  Ming Kwun

              	
                39%

              
	 	 	
                Ding
                  Tao

              	
                10%

              
	 	 	
                新世纪国榻租犿有榰公司

              	
                51%

              
	 	 	 	 
	
                Nature
                  of Business:

              	 	
                Car
                  Leasing

              	 
	 	 	 	 
	
                Incorporation:
                  

              	 	
                Q4
                  2007

              	 
	 	 	 	 
	
                Registered
                  Capital:

              	 	
                RMB
                  1m

              	 
	 	 	 	 
	
                Term:
                  

              	 	
                20
                  years

              	 

      

    

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    SCHEDULE
      9.12

     

    (1)

     

    
      
        	
                Plaintiff:

              	 	
                New
                  Century International Leasing Company Limited

              
	 	 	 
	
                Date
                  and Jurisdiction filed:

              	 	
                October
                  2004, Beijing

              
	 	 	 
	
                Defendant:

              	 	
                广州市白云区琴星小学

              
	 	 	 
	
                Contract
                  Number:

              	 	
                2003NCLC7134B2

              
	 	 	 
	
                Amount
                  Claimed:

              	 	
                RMB
                  2.2m

              
	 	 	 
	
                Outcome:

              	 	
                
                  
                    
                      
                        
                          l
                            Court
                            awarded NCIL RMB 2.2m.

                        

                      

                    

                  

                

              
	 	 	 
	 	 	
                
                  l NCIL
                    worked out a repayment plan for RMB 2.2m in place (RMB 800k paid
                    up, RMB
                    1.4m outstanding)

                

              

      

    

     

    (2)

     

    
      
        	
                Plaintiff:

              	 	
                New
                  Century International Leasing Company Limited

              
	 	 	 
	
                Defendant:

              	 	
                上海羦友宽杯网络投犼有榰公司

              
	 	 	 
	
                Date
                  and Jurisdiction filed:

              	 	
                November
                  2006, Beijing

              
	 	 	 
	
                Contract
                  Number:

              	 	
                2004NCLC8037

              
	 	 	 
	
                Amount
                  Claimed:

              	 	
                RMB
                  2.7m

              
	 	 	 
	
                Outcome:

              	 	
                
                  l Court
                    awarded NCIL RMB 2.7m

                

              
	 	 	 
	 	 	
                
                  l Repayment
                    Plan for RMB 2.15m in place (RMB 60k paid up, RMB 2.09m
                    outstanding)

                

              

      

    

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    EXHIBIT
      A

     

    FORM
      OF

     

    EXCLUSIVE
      COOPERATION AGREEMENT

     

    [to
      be inserted]

    
      
        
        

      

      
        4

        
          

        

      

       

    

     

    EXHIBIT
      B

     

    FORMS
      OF

     

    ATM
      FRAMEWORK CONTRACT

     

    AUTOMOBILE
      FRAMEWORK CONTRACT

     

    WINDMILL
      FRAMEWORK CONTRACT

     

    [to
      be inserted]

    
      
        
        

      

      
        5

        
          

        

      

       

    

     

    EXHIBIT
      C

     

    FORMS
      OF

     

    ATM
      TRUST LEASE CONTRACT

     

    AUTOMOBILE
      TRUST LEASE CONTRACT

     

    WINDMILL
      TRUST LEASE CONTRAC

     

    [to
      be inserted]

    
      
        
        

      

      
        6

        
          

        

      

       

    

     

    EXHIBIT
      D

     

    FORMS
      OF

     

    ATM
      LEASE CONTRACT

     

    AUTOMOBILE
      LEASE CONTRACT

     

    WINDMILL
      LEASE CONRACT

     

    [to
      be inserted]

     

    
      
        
        

      

      
        7

        
          

        

      

       

    

     

    EXHIBIT
      E

     

    FORMS
      OF

     

    ATM
      SUPPLY CONTRACT

     

    AUTOMOBILE
      SUPPLY CONTRACT

     

    WINDMILL
      SUPPLY CONTRACT

     

    [to
      be inserted]

     

    
      
        
        

      

      
        8

        
          

        

      

       

    

     

    EXHIBIT
      F

     

    FORM
      OF

     

    ARRANGER
      AGREEMENTS

     

    [to
      be inserted]

    
      
        
        

      

      
        9

        
          

        

      

       

    

     

    EXHIBIT
      G

     

    RIGHT
      OF FIRST REFUSAL AGREEMENT

     

    
      
        
        

      

      
        10Execution
      Copy

     

     

    EMPLOYMENT
      AGREEMENT

     

    BY
      AND

     

    KEVIN
      MA

     

    AND

     

    SHANGHAI
      CENTURY ACQUISITION CORPORATION

     

    Dated:
      February 20, 2007

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    THIS
      EMPLOYMENT AGREEMENT (“Agreement”)

    is
      made
      and entered into this

    20th
      day
      of February 2008

    by
      and

    Kevin
      Ma

    (the
      “Employee”)

    and

    Shanghai
      Century Acquisition Corporation

     

    BACKGROUND

     

    WHEREAS
      the Employee and the Company desire to enter into this Agreement for the purpose
      of retaining the services of the Employee, and the Company wishes to provide
      the
      Employee with an inducement to remain with the Company;

     

    NOW,
      THEREFORE, intending to be legally bound, and in consideration of the premises
      and the mutual promises set forth in this Agreement and for other good and
      valuable consideration, the receipt and sufficiency of which are hereby
      acknowledged, the Company and Employee agree as follows:

     

    DEFINITIONS

     

    “Administrator”
      means the Compensation Committee (as defined below) or the Board (as defined
      below) who administer the Employee Stock Options (as defined below) under
      applicable stock option agreements or stock incentive plans or
      schemes.

     

    “Affiliate”
      means with respect to any Person directly or indirectly Controlling, Controlled
      by, or under common Control with such Person.

     

    “Ancillary
      Agreements” is as defined in Article 5.

     

    “Board”
      means the Board of Directors of the Company.

     

    “Business”
      means engaging financial leasing and other leasing activities in the PRC either
      directly or through subsidiaries of the Company. 

     

    “Cash
      Compensation” is as defined in Section 2.1.

     

    “Cause”
      means (i) the Employee commits a crime involving dishonesty, breach of trust,
      or
      physical harm to any person; (ii) The Employee materially breaches any
      applicable law or regulation that has a potentially material adverse effect
      on
      either the performance or Business of the Company or any of its Subsidiaries
      or
      on the Employee’s ability to carry out his duties as an officer or director of
      the Company or any of its Subsidiaries; (iii) the Employee willfully engages
      in
      conduct that is in bad faith and materially injurious to the Company, including
      but not limited to, misappropriation of trade secrets, fraud or embezzlement;
      (iv) the Employee commits a material breach of this Agreement or the Ancillary
      Agreements, which breach is not cured within twenty (20) days after written
      notice to the Employee from the Company; (iv) the Employee willfully refuses
      to
      implement or follow a reasonable and lawful policy or directive of the Company,
      which breach is not cured within twenty (20) days after written notice to the
      Employee from the Company; (v) the Employee engages in malfeasance demonstrated
      by a pattern of failure to perform job duties diligently and professionally;
      (vi) the Employees fails to substantially and materially achieve the Share
      Bonus
      targets set forth n Section 2.2, the Performance Targets referred to in Section
      2.8 or budgets approved by the Board; or (vii) the conduct of the Employee
      brings disrepute to the Company or its Business or results in the portrayal
      of
      the Company in a negative light.

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    “Change
      in Control” means a change in ownership or control of the Company effected
      through either of the following transactions: (i) the direct or indirect
      acquisition by any person or related group of persons (other than an acquisition
      from or by a Company-sponsored employee benefit plan or by a person that
      directly or indirectly controls, is controlled by, or is under common control
      with, the Company) of beneficial ownership (within the meaning of Rule 13d-3
      of
      the Exchange Act) of securities possessing more than fifty percent (50%) of
      the
      total combined voting power of the Company’s outstanding securities pursuant to
      a tender or exchange offer made directly to the Company’s shareholders, or (ii)
      a change in the composition of the Board over a period of thirty-six (36) months
      or less such that a majority of the Board members (rounded up to the next whole
      number) ceases, by reason of one or more contested elections for Board
      membership, to be comprised of individuals who are Continuing Directors. The
      “Continuing Directors” means members of the Board who either (i) have been Board
      members continuously for a period of at least thirty-six (36) months or (ii)
      have been Board members for less than thirty-six (36) months but were elected
      or
      nominated for election as Board members by at least a majority of the Board
      members described in clause (i) who were still in office at the time such
      election or nomination was approved by the Board. “Associate” has the meaning
      ascribed to such term in Rule 12b(2) promulgated under the Exchange
      Act.

     

    “Company”
      means Shanghai Century Acquisition Corporation.

     

    “Compensation
      Committee” means the compensation committee of the Board of the Company or such
      other group of directors performing similar functions.

     

    “Control”
      (including the terms “Controlled by” and “under common Control with”) means the
      possession, directly or indirectly or as a trustee or executor, of the power
      to
      direct or cause the direction of the management of a Person, whether through
      the
      ownership of stock, as a trustee or executor, by contract or credit agreement
      or
      otherwise.

     

    “Corporate
      Transaction” means any of the following transactions: (i) a merger or
      consolidation in which the Company is not the surviving entity, except for
      a
      transaction the principal purpose of which is to change the state in which
      the
      Company is incorporated; (ii) the sale, transfer or other disposition of all
      or
      substantially all of the assets of the Company; (iii) the complete liquidation
      or dissolution of the Company; (iv) any reverse merger or series of related
      transactions culminating in a reverse merger (including, but not limited to,
      a
      tender offer followed by a reverse merger) in which the Company is the surviving
      entity but (A) the Ordinary Shares outstanding immediately prior to such merger
      are converted or exchanged by virtue of the merger into other property, whether
      in the form of securities, cash or otherwise, or (B) in which securities
      possessing more than fifty percent (50%) of the total combined voting power
      of
      the Company’s outstanding securities are transferred to a person or persons
      different from those who held such securities immediately prior to such merger
      or the initial transaction culminating in such merger, but excluding any such
      transaction or series of related transactions that the Administrator determines
      shall not be a Corporate Transaction; or (v) acquisition in a single or series
      of related transactions by any person or related group of persons (other than
      the Company or by a Company-sponsored employee benefit plan) of beneficial
      ownership (within the meaning of Rule 13d-3 of the Exchange Act) of securities
      possessing more than fifty percent (50%) of the total combined voting power
      of
      the Company’s outstanding securities. 

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    “Effective
      Date” means the Closing Date of the Stock Purchase Agreement between Asia Leader
      Investments Limited and Shanghai Century Acquisition Corporation.

     

    “Employee”
      is as defined in the Preamble.

     

    “Employee
      Resignation” and “Employee Resignation Date” are defined in Section
      3.1.2.

     

    “Employment
      Capacity” shall be Chairman reporting to the Board of the Company.

     

    “Employment
      Contract Termination Date” means the later of June 30, 2013 or the date on which
      either the Company or the Employee elects not to extend this Agreement further
      by giving written notice to the other party.

     

    “Employment
      Final Termination Date” means the date upon which the Employee’s employment with
      the Company ceases for any reason under the terms and conditions of this
      Agreement..

     

    “Employment
      Term” is as defined in Section 1.1.

     

    “Exchange
      Act” means the U.S. Securities Exchange Act of 1934, as amended.

     

    “Good
      Reason” in the context of the Employee’s resignation is defined as (a) a change
      made by the Company without Cause in the Employee’s position which materially
      reduces the Employee’s level of responsibilities, duties or stature; or (b) a
      material reduction made by the Company without Cause in the Employee’s Monthly
      Base Salary.

     

    “Management
      Team” is as defined in Article 1.

     

    “Monthly
      Base Salary” is as defined in Section 2.1 (i).

     

    “Ordinary
      Shares” means the ordinary shares of the Company.

     

    “Original
      Employment Agreement” is as defined in the Preamble.

     

    “Performance
      Targets” shall be as defined in Section 2.1.

     

    “Person”
      means an individual, corporation, partnership, limited liability company,
      limited partnership, association, trust, unincorporated organization or other
      entity or group (as defined in Section 13(d)(3) and Section 14(d)(2) of the
      Exchange Act).

     

    “PRC”
      means the People’s Republic of China.

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    “RMB”
or
      Renminbi means the legal currency of the People’s Republic of
      China.

     

    “Share
      Bonus” shall be as defined in Section 2.2.

     

    “Stock
      Option Employment Package” shall be the stock option employment package as set
      forth in Section 2.7.

     

    “Subsidiary”
      means, with respect to any Person, any entity which securities or other
      ownership interests having ordinary voting power to elect a majority of the
      Board or other persons performing similar functions are at the time directly
      or
      indirectly owned by such Person.

     

    “Trust”
      shall be as defined in Section 2.2.

     

    “U.S.
      dollars” or “US$” means the legal currency of the United States.

     

    ARTICLE
      1. EMPLOYMENT
      AND TERM

     

    The
      Company hereby employs the Employee and the Employee hereby agrees to such
      employment by the Company during the Employment Term to serve as Chief Executive
      Officer of the Company, with the customary duties, authorities and
      responsibilities of such position and such other duties, authorities and
      responsibilities relative to the Company that may from time to time be delegated
      to the Employee by the Board. The Employee shall perform such duties and
      responsibilities as are normally related to such position in accordance with
      the
      international standards of the industry and any additional duties now or
      hereafter assigned to the Employee by the Board. The Employee shall abide by
      the
      Company’s rules, regulations and practices as they may from time-to-time be
      adopted or modified.

     

    The
      Employee and the Company shall contemporaneously with this Agreement execute
      the
      Key Employee Invention Assignment and Confidentiality Agreement in the form
      attached as Exhibit A and the Non-Compete Agreement in the form attached as
      Exhibit B.

     

    In
      addition, the Employee shall assist the Company in recruiting a management
      team
      for the Company or its Subsidiaries experienced in leasing and related service
      areas (the “Management Team”). The members of the Management Team shall execute
      employment agreements with the Company or its relevant Subsidiary in accordance
      with the policies and procedures of the Company and its Subsidiaries. Such
      employment agreements shall include the Key Employee Invention Assignment and
      Confidentiality Agreement in the form attached as Exhibit A, the Non-Compete
      Agreement in the form attached as Exhibit B and the Form of Release Certificate
      in the form attached as Exhibit C. 

     

    
      	
              1.1

            	
              Employment
                Term. The
                Employment Term of this Agreement shall commence on the Effective
                Date and
                shall continue until the earlier of the Employment Contract Termination
                Date or the Employment Final Termination
                Date.

            

    

     

    
      	
              1.2

            	
              Working
                Time.
                During the Employment Term, the Employee shall devote the majority
                of his
                time and attention to the Business and affairs of the Company and
                shall in
                all respects properly perform his duties hereunder as is required
                in the
                judgment of the Board. 

            

    

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

    
      	
              1.3

            	
              Change
                in Control/Corporate Transaction.
                Notwithstanding the foregoing, if a Change in Control or Corporate
                Transaction occurs prior to the Employment Contract Termination Date,
                then
                the terms outlined in Article 4 shall
                apply.

            

    

     

    
      	
              1.4

            	
              Location
                of Employment.
                The Employer shall be based in Beijing, the PRC unless otherwise
                required
                by the Company.

            

    

     

    ARTICLE
      2. COMPENSATION
      PACKAGE AMOUNT

     

    
      	
              2.1

            	
              Cash
                Compensation.
                During the Employment Term, as compensation for services hereunder
                and
                subject to the performance of his obligations hereunder, the Employee
                shall be paid base salary in the amount of US$600,000 payable in
                arrears
                on the last business day of each calendar month in twelve monthly
                installments (“Monthly Base Salary”) and pro rated for the number of days
                actually worked by Employee in the first month and in any month in
                which
                the Employment Contract Termination Date or the Employment Final
                Termination Date occurs, less all required
                deductions;

            

    

     

    
      	
              2.2

            	
              Annual
                Performance Incentive Share Bonus.
                The Employee and members of the Management Team also shall be eligible
                to
                share an annual performance incentive share bonus in respect of fiscal
                years 2008, 2009 and 2010 (“Share Bonus”) subject to the terms and
                conditions set forth in this Agreement and to the Employee’s achievement
                of the annual performance targets set forth below. The Share Bonus
                shall
                be payable on or before the dates set forth below to a trust or other
                entity established by the Employee for the benefit of himself, the
                members
                of the Management Team and their respective families (the “Management
                Trust”) and the distribution of the Share Bonus paid to the Management
                Trust shall be at the direction of the Employee, provided that the
                Employee shall retain for himself a minimum of fifty (50%) percent
                of the
                Share Bonus paid in each of 2008, 2009 and 2010.
                

            

    

     

    
      	
            	(a)	
              4,000,000
                newly issued Ordinary Shares of the Company free and clear of all
                liens
                and encumbrances and 4,000,000 newly issued warrants of the Company
                (of a
                class different from the existing public warrants of Shanghai Century
                Acquisition Corporation with the same terms and conditions of such
                public
                warrants except without a redemption feature) shall be transferred
                to the
                Management Trust within thirty (30) days of the delivery of the 2008
                pro
                forma combined financial statements (based on the US GAAP audited
                financials of such companies) of New Goal Leasing International Ltd.
                and
                its wholly foreign-owned enterprise in PRC engaged in the business
                of
                financial leasing and other leasing activities in the PRC (the “Reference
                Entities”) reflecting a 2008 net after-tax income of US$20 million,
                subject to the following carve out in (i) and the following adjustment
                in
                (ii):

            

    

    

    (i) There
      shall be excluded from such calculation of net after-tax income any amounts
      that
      may have been recorded on such financial statements as any compensation costs
      associated with any such Share Bonus.

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

    

    (ii) If
      the
      2008 pro forma combined net after tax income of the Reference Entities exceeds
      a
      band of plus or minus 5% from US$20 million, then the number of common shares
      and warrants to be transferred shall be increased pro rata up to a maximum
      of
      50% or decreased pro rata without any minimum. By way of example, (x) if the
      2008 pro forma combined net after-tax income is US$25,000,000, an additional
      1,000,000 common shares and 1,000,000 warrants will be transferred to the
      Management Trust; (y) if the 2008 pro forma combined net after-tax income is
      US$15,000,000, 1,000,000 common shares and 1,000,000 warrants will be deducted
      with the result that only 3,000,000 shares and 3,000,000 warrants will be
      transferred to the Management Trust; and (z) if the 2008 pro forma combined
      net
      after-tax income is US$35,000,000, only an additional 2,000,000 common shares
      and 2,000,000 warrants will be transferred to the Management Trust.

    

    
      	
            	(b)	
              An
                additional 4,000,000 newly issued Ordinary Shares of the Company
                shall be
                transferred to the Management Trust within thirty (30) days of the
                delivery of the 2009 pro forma combined financial statements (based
                on the
                US GAAP audited financials of such companies) of the Reference Entities,
                if their combined 2009 net after-tax income is equal to or greater
                than
                US$34,000,000 subject to the same carve set forth in Paragraph 2.2(a)(i)
                and the following adjustment: if the 2009 pro forma combined net
                after tax
                income of the Reference Entities (adjusted for the carve out) exceeds
                US$34,000,000, then the number of ordinary shares to be transferred
                shall
                be increased pro rata up to a maximum of
                25%.

            

    

    

    
      	
            	(c)	
              A
                further 4,000,000 newly issued Ordinary Shares of the Company shall
                be
                transferred to the Management Trust within thirty (30) days of the
                delivery of the 2010 pro forma combined financial statements (based
                on the
                US GAAP audited financials of such companies) of the Reference Entities,
                if their combined 2010 net after-tax income is equal to or greater
                than
                US$57,800,000 subject to the same carve set forth in Paragraph 2.2(a)(i)
                and the following adjustment: if the 2010 pro forma combined net
                after tax
                income of the Reference Entities (adjusted for the carve out) exceeds
                US$57,800,000, then the number of ordinary shares to be transferred
                shall
                be increased pro rata up to a maximum of
                25%.

            

    

    

    
      	
            	(d)	
              Any
                Ordinary Shares issued as a Share Bonus issued shall be subject to
                a lock
                up of two (2) years from the date of issuance, subject to certain
                customary exceptions. Upon issuance of any such shares of the Share
                Bonus,
                the Employee and each member of the Management Team who receives
                any part
                of the shares awarded under the Share Bonus Shares shall enter into
                a
                lockup agreement to such effect in favor of the
                Company.

            

    

    

    
      	
              2.3

            	
              Benefits.
                During the Employment Term, as further compensation for services
                hereunder, the Employee shall be entitled to the benefits as
                follows:

            

    

     

    
      	 	
              (a)

            	
              Insurance:
                health and life insurance providing international standard coverage
                as
                determined by the Compensation Committee after consultation with
                the
                Employee.

            

    

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

     

    
      	 	
              (b)

            	
              Tax
                Advisory Services:
                reimbursement for actual tax advisory service fees incurred, up to
                US$10,000 per year.

            

    

     

    All
      reimbursements will be paid subject to Employee’s delivery of actual expense
      receipts/invoices documenting the relevant reimbursement requested.

     

    
      	
              2.4

            	
              Individual
                Income Tax.
                The Employee and the members of the Management Team shall be responsible
                for paying their own individual income tax, and the Employee and
                each
                member of the Management Team will certify in writing annually to
                the
                Board that he or she has accurately reported and timely paid all
                income
                tax due in connection with such compensation. The Company will make all
                required tax and statutory withholdings according to the PRC taxation
                laws
                and the tax amount will be deducted from the Employee’s Monthly Base
                Salary, which deduction Employee hereby consents
                to.

            

    

     

    
      	
              2.5

            	
              Annual
                Leave.
                The Employee shall be entitled to four (4) weeks of annual leave
                with pay
                during each calendar year of the Employment Term, which must be taken
                in
                accordance with the Company’s vacation policy then in
                effect.

            

    

     

    
      	
              2.6

            	
              Travel
                Expenses Reimbursement.
                The Company shall pay or reimburse the Employee for reasonable business
                expenses actually incurred or paid by the Employee during the Employment
                Term, in the performance of his services
                hereunder.

            

    

     

    
      	
              2.7

            	
              Stock
                Option Employment Package.
                The Employee shall be entitled to, and the Company shall grant the
                Employee, a stock option employment package as determined by the
                Compensation Committee in accordance with the policies of the Company
                (the
                “Company Policy”).

            

    

     

    The
      unvested portions of such options shall cease to vest if the Employee
      voluntarily leaves the Company without good reason, is fired for Cause by the
      Company or becomes otherwise incompetent to perform his essential duties after
      any leave or accommodation required by law or permitted under Company
      policy.

     

    Notwithstanding
      any provisions of the Company Policy to the contrary, the vested options shall
      be exercised within ten (10) years from vesting. The Employee’s shares, whether
      vested and/or exercised or not, shall be subject to transfer restrictions
      determined by the Board.

     

    In
      the
      event there takes place a Change in Control or a Corporate Transaction (each
      a
“Buy-Out”), whether in the form of a cash-for-stock, stock-for-stock or other
      arrangements, the vesting shall be accelerated and all the unvested shares
      of
      the Employee shall be vested and exercisable upon a date before the Buy-Out
      transaction as determined by the Board (the “Cut-Off Date”), unless the Employee
      has not by the Cut-Off Date been continuously employed by the Company for more
      than twelve (12) months, in which case only half of the unvested portion of
      shares of the Employee shall be vested and exercisable while the other half
      of
      his unvested portion of shares shall be cancelled and revoked from his stock
      option.

     

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

     

    
      	
              2.8

            	
              Annual
                Review.
                The terms of the compensation package provided under this Agreement
                and
                the Employee’s recommendations in connection therewith shall be reviewed
                by the Compensation Committee and/or the Board from time to time,
                provided
                that the Share Bonus in Section 2.2 shall not be amended. At a minimum,
                the Company’s Compensation Committee will review in the second quarter of
                each calendar year or at such other time as the Company and Employee
                shall
                agree, (a) the compensation package of the Employee, including approval
                of
                the annual performance incentive cash bonus payable, if any, based
                on
                achievement of the prior calendar year’s Performance Targets and (b) the
                approval of performance targets (with specific qualitative and
                quantitative performance factors) (the “Performance Targets”) for
                determining the annual incentive cash bonus payouts for the current
                calendar year. Except for agreed changes, if any, pursuant to clause
                (b)
                of the preceding sentence, any amendment agreed upon by the Board
                or the
                Compensation Committee and the Employee to the terms of the Employee’s
                compensation package will not be retroactive and shall take effect
                from
                the time such amendment is made. The parties hereto agree that, as
                a
                general principle, amendments to the compensation package of the
                Employee
                shall not be made to, directly or indirectly, address changes in
                applicable law (including tax laws) and other regulatory developments
                which affect the Employee.

            

    

     

    ARTICLE
      3. TERMINATION

     

    
      	
              3.1

            	
              General.

            

    

     

    
      	 	
              3.1.1.

            	
              Company’s
                Right to Terminate.
                The Company shall have the right to terminate the employment of the
                Employee at any time with Cause, but the relative rights and obligations
                of the parties in the event of any such termination or resignation
                shall
                be determined under this Agreement. The Company shall not have the
                right
                to terminate the Employee without
                Cause.

            

    

     

    
      	 	
              3.1.2.

            	
              Employee’s
                Resignation Right.
                The Employee shall have the right to resign for any reason with three
                (3)
                months prior written notice to the Company, but the relative rights
                and
                obligations of the parties in the event of any such resignation shall
                be
                determined under this Agreement (such event, an “Employee Resignation”,
                and the date of notice by the Employee to the Company, the “Employee
                Resignation Date”). 

            

    

     

    
      	
              3.2

            	
              Termination
                Under Certain Circumstances.

            

    

     

    
      	 	
              3.2.1.

            	
              Termination
                For Cause.
                In the event the Company terminates the Employee’s employment for cause
                prior to the expiration of the Employment
                Term:

            

    

     

    
      	 	
              (i)

            	
              subject
                to the Employee’s compliance with Articles 5, 6 and 7, the Company will be
                obliged to pay only the Standard Termination Entitlements as defined
                in
                Section 3.4.1;

            

    

     

    
      	 	
              (ii)

            	
              the
                Share Bonus shall be terminated forthwith and no additional shares
                or
                warrants eligible thereunder shall be transferred to the Management
                Trust
                provided that any Ordinary Shares or warrants transferred to the
                Management Trust pursuant to Section 2.2 prior to such termination
                shall
                not be adversely affected by such termination;
                and

            

    

     

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

     

    
      	 	
              (iii)

            	
              Employee’s
                right to exercise the Employee Stock Options described under Section
                2.7
                shall be determined pursuant to the applicable stock option agreements
                and
                stock incentive plan governing such options in effect at the time
                of such
                employment termination, provided that any stock options that shall
                have
                been vested as of the date of termination shall not be adversely
                affected
                by such termination.

            

    

     

    
      	 	
              3.2.2.

            	
              Resignation
                For Any Reason Other Than Good Reason
                In
                the event the Employee resigns for any reason other than Good Reason
                prior
                to the expiration of the Employment
                Term:

            

    

     

    
      	 	
              (i)

            	
              subject
                to the Employee’s compliance with Articles 5, 6 and 7, the Company will be
                obliged to pay the Standard Termination Entitlements as defined in
                Section
                3.4.1;

            

    

     

    
      	 	
              (ii)

            	
              the
                Share Bonus shall be terminated forthwith and no additional shares
                or
                warrants eligible thereunder shall be transferred to the Management
                Trust
                provided that any Ordinary Shares or warrants transferred to the
                Management Trust pursuant to Section 2.2 prior to such termination
                shall
                not be adversely affected by such termination;
                and

            

    

     

    
      	 	
              (iii)

            	
              a
                portion of the Employee Stock Options described under Section 2.7
                which
                are unvested on such date shall vest in accordance with the option
                agreements (as amended) governing those
                options.

            

    

     

    
      	 	
              3.2.3.

            	
              Resignation
                for Good Reason.
                Except in the event of a Change in Control or a Corporate Transaction,
                in
                the event that the Employee resigns for Good Reason, subject to the
                Employee’s compliance with Articles 5, 6 and
                7:

            

    

     

    
      	 	
              (i)

            	
              the
                Company will be obligated to pay the Standard Termination Entitlements
                as
                defined in Section 3.4.1 and the Severance Benefits as defined in
                Section
                3.4.2; provided that Employee’s eligibility for Severance Benefits is
                conditioned on Employee having first signed a release certificate
                in the
                form attached as Exhibit C;

            

    

     

    
      	 	
              (ii)

            	
              the
                Company will be obligated to pay the Share Bonus to the Management
                Trust
                following such resignation for Good Reason provided that the performance
                targets set forth in Section 2.2 are achieved; and
                

            

    

     

    
      	 	
              (iii)

            	
              a
                portion of the Employee Stock Options described under Section 2.7
                which
                are unvested on such date shall vest in accordance with the option
                agreements (as amended) governing those
                options.

            

    

     

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

     

    
      	 	
              3.2.4.

            	
              Termination
                upon a Change in Control or Corporate Transaction.
                In the event of a Change in Control or Corporate Transaction, the
                terms
                outlined in Article 4 shall apply.

            

    

     

    
      	
              3.3

            	
              Liquidated
                Damages.
                The Company and Employee hereby stipulate that the damages which
                may be
                incurred by the Employee as a consequence of any such termination
                of
                employment are not capable of accurate measurement as of the Effective
                Date and that the liquidated damages payments provided for in this
                Agreement constitute a reasonable estimate under the circumstances
                of, and
                are in full satisfaction of, all damages sustained as a consequence
                of any
                such termination of employment.

            

    

     

    
      	
              3.4

            	
              Definitions.

            

    

     

    
      	 	
              3.4.1.

            	
              Standard
                Termination Entitlements.
                For all purposes of this Agreement, the “Standard Termination
                Entitlements” shall mean and
                include:

            

    

     

    
      	 	
              i.

            	
              the
                Employee’s earned but unpaid compensation (including, without limitation,
                salary, bonus and all other items which constitute wages under applicable
                law) as of the date of his termination of employment. This payment
                shall
                be made at the time and in the manner prescribed by law applicable
                to the
                payment of compensation but in no event later than 30 days after
                the date
                of the Employee’s termination of
                employment;

            

    

     

    
      	 	
              ii.

            	
              the
                benefits, if any, due to the Employee (and the Employee’s estate,
                surviving dependents or his designated beneficiaries) under the employee
                benefit plans and programs and compensation plans and programs (including
                stock option plans) maintained for the benefit of the employees of
                the
                Company; and

            

    

     

    
      	 	
              iii.

            	
              all
                of the Employee’s Employee Stock Options that have been deemed to have
                vested at or prior to the Employment Final Termination Date under
                the
                terms of applicable stock option agreements and stock incentive
                plans.

            

    

     

    
      	 	
              3.4.2.

            	
              Severance
                Benefits.
                For all purposes of this Agreement, the Employee’s “Severance Benefits”
                shall mean:

            

    

     

    
      	 	
              i.

            	
              the
                payment of a lump sum amount equal to the total number of years between
                the Effective Date and the Employment Final Termination Date multiplied
                by
                the Employee’s Monthly Base Salary in effect immediately prior to his
                termination of employment; if the Employment Final Termination Date
                occurs
                six months or more after an anniversary of the Effective Date, such
                half-year period after the anniversary shall be included in the number
                of
                years referenced above (e.g., if the Employment Final Termination
                Date is
                two years and ten months after the Effective Date, then the total
                number
                of years for purposes of this subsection would be 2.5);
                and

            

    

     

    
      
        
        

      

      
        11

        
          

        

      

      
        
        

      

    

     

    
      	 	
              ii.

            	
              for
                a period of six months after the Employee’s termination of employment, all
                benefits including direct payment by the Company to the carrier of
                the
                premiums due for any health insurance continuation coverage elected
                by the
                Employee under the Company group health
                plans.

            

    

     

    ARTICLE
      4. Change
      in Control Corporate Transaction.

     

    
      	
              4.1

            	
              Employment
                Term.
                If a Change in Control or Corporate Transaction occurs prior to the
                Employment Contract Termination Date, then subject to the provisions
                of
                Section 4.2 below, the Employment Term shall remain
                unchanged.

            

    

     

    
      	
              4.2

            	
              Severance
                Payment Amount.
                If a Change in Control or Corporate Transaction occurs prior to the
                Employment Contract Termination Date and the Company terminates the
                Employee’s employment without Cause or the Employee resigns for Good
                Reason, then the Employee will be entitled to (a) a payment equal
                to the
                greater of (x) 6 times the Monthly Rate of Compensation or (y) 12
                months’
                Monthly Base Salary less any compensation paid to the Employee during
                the
                period between the Change in Control or Corporate Transaction and
                Employment Final Termination Date, (b) the Company will be obligated
                to
                pay the Share Bonus to the Management Trust provided that the performance
                targets set forth in Section 2.2 are achieved, and (c) subject to
                the
                Employee’s compliance with Articles 5, 6 and 7, the Standard Termination
                Entitlements as defined in Section
                3.4.1.

            

    

     

    
      	
              4.3

            	
              Health
                and Life Insurance Benefits.
                If a Change in Control or Corporate Transaction occurs prior to the
                Employment Contract Termination Date, then the Employee will be entitled
                to Company-paid contributions for health and life insurance premiums
                for
                the greater of six months or the number of months between the Employment
                Final Termination Date and the first anniversary of the Change in
                Control
                or Corporate Transaction.

            

    

     

    
      	
              4.4

            	
              Section
                280G.
                In order to avoid the payment of excise tax imposed by Section 4999
                of the
                Internal Revenue Code of 1986 (the “Code”), the Company may reduce the
                payments or benefits to the Employee (within the meaning of Section
                280G(b)(2) of the Code). Such reduction may apply to cash payments,
                vesting acceleration of Employee Stock Options and other benefits
                received
                by the Employee, which could result in the acceleration of vesting
                of only
                a portion or none of then unvested Employee Stock Options. In no
                event
                shall any payment be made under this Agreement if it would result
                in an
                excess parachute payment under section 280G of the Internal Revenue
                Code
                of 1986.

            

    

     

    ARTICLE
      5. PROPRIETARY
      INFORMATION AND NON-COMPETITION

     

    In
      consideration of the Company granting Employee his position, the Employee shall,
      on or before the Effective Date, enter into a Key Employee Invention Assignment
      and Confidentiality Agreement in the form as Exhibit A attached hereto and
      a
      Non-Compete Agreement (together with the Key Employee Invention Assignment
      and
      Confidentiality Agreement, the “Ancillary Agreements”) in the form as Exhibit B
      attached hereto. The Employee agrees that the entering into the Ancillary
      Agreements is necessary to protect the interests of the Company, its
      Subsidiaries or Affiliates and is reasonable and valid in geographical and
      temporal scope and in all other respects. If any court determines that this
      Article 5 or any provision in the Ancillary Agreements is unenforceable because
      of the duration or geographical scope of such provision, such court will have
      the power to reduce the duration or scope of such provision, as the case may
      be,
      and, in its reduced form, such provision will be enforceable.

     

    
      
        
        

      

      
        12

        
          

        

      

      
        
        

      

    

     

    ARTICLE
      6. REMEDIES

     

    If
      the
      Employee commits a breach, or threatens to commit a breach, of any provisions
      of
      this Agreement or the Ancillary Agreements (the “Breach”), the Company shall
      have the right to terminate the Employee’s employment under Section 3.2.1 and
      make a claim for damages associated with the Breach, each of which shall be
      independent of the others and shall be severally enforceable, and all of which
      shall be in addition to, and not in lieu of, any other rights and remedies
      available under law or in equity to the Company. The Company shall have the
      right to have the provisions hereof or of the Ancillary Agreements enforced
      by
      any court in the State of New York, USA, it being acknowledged and agreed that
      any breach or threatened breach of any of such provision by the Employee will
      cause irreparable injury to the Company and that money damages will not provide
      an adequate remedy to the Company.

     

    ARTICLE
      7. DISPUTE
      RESOLUTION

     

    Any
      dispute arising out of or in connection with this Agreement, the Key Employee
      Invention Assignment and Confidentiality Agreement or Non-Compete Agreement
      under the Article 5 hereof shall be finally settled under the Rules of the
      Hong
      Kong International Arbitration Centre (the “Arbitration Centre”) by three (3)
      arbitrators appointed as follows: one (1) arbitrator shall be appointed by
      Kevin
      Ma, one (1) arbitrator shall be appointed by the Company and the third
      arbitrator shall be appointed jointly by such two arbitrators. If such two
      arbitrators fail to appoint such third arbitrator with thirty (30) days, then
      such third arbitrator shall be appointed by the chairman of the Arbitration
      Centre. The place of arbitration shall be in Hong Kong. The arbitration shall
      be
      conducted in English. The arbitration awards shall be final and binding upon
      the
      parties. The costs of the arbitration proceeding and any proceeding in court
      to
      confirm or to vacate any arbitration award, as applicable (including each
      party’s attorneys’ fees and costs), shall be borne by the unsuccessful party or,
      at the discretion of the arbitrators, may be prorated between the parties in
      such proportion as the arbitrators determine to be equitable and shall be
      awarded as part of the arbitrators’ award.

     

    ARTICLE
      8. GENERAL
      PROVISIONS

     

    
      	
              8.1

            	
              Notices.
                All notices, requests, claims, demands and other communications hereunder
                shall be in writing and shall be given (and shall be deemed to have
                been
                duly received if so given) by hand delivery, telegram, telex, or
                telecopy,
                or facsimile transmission, or by mail (registered or certified mail,
                postage prepaid, return receipt requested) or by any courier service,
                providing proof of delivery. All communications hereunder shall be
                delivered to the respective parties at the following addresses or
                to such
                other address as the party to whom notice is given may have previously
                furnished to the other parties hereto in writing in the manner set
                forth
                above:

            

    

     

    
      
        
        

      

      
        13

        
          

        

      

      
        
        

      

       

    

    
      	If to the Employee:	Mr. Kevin Ma
	 	
              2106 China World Tower A,

              No. 1 Jianguomenwai Ave., Beijing 100004,

              
                PRC

              

            
	 	 
	 	
              Facsimile:
                (8610) 6505-2926 

            

    

     

    
       

      
        	If to the Company:	
                23rd
                  Floor, Shun Ho Tower

              
	 	
                24-30
                  Ice House Street

                Central
                  Hong Kong

                 

                
                  
                    Facsimile:
                      (852) 2851-9088

                  

                

              

      

       

    

    
      	
              8.2

            	
              Entire
                Agreement.
                This Agreement, taken together with the Ancillary Agreements, shall
                constitute the entire agreement between the Employee and the Company
                with
                respect to the Employee’s employment with the Company and supersedes any
                and all prior agreements and understandings, written or oral, with
                respect
                thereto.

            

    

     

    
      	
              8.3

            	
              Amendments
                and Waivers.
                Any term of this Agreement may be amended and the observance of any
                term
                of this Agreement may be waived (either generally or in a particular
                instance and either retroactively or prospectively) only by an instrument
                in writing and signed by the party against whom such amendment or
                waiver
                is sought to be enforced.

            

    

     

    
      	
              8.4

            	
              Successors
                and Assigns.
                The personal services of the Employee are the subject of this Agreement
                and the Ancillary Agreements and no part of the Employee’s or the
                Company’s rights or obligations hereunder or thereunder may be assigned,
                transferred, pledged or encumbered by the Employee or the Company.
                This
                Agreement and the Ancillary Agreements shall inure to the benefit
                of, and
                be binding upon (a) the parties hereto, (b) the heirs, administrators,
                executors and personal representatives of the Employee and (c) the
                successors and assigns of the Company as provided
                herein.

            

    

     

    
      	
              8.5

            	
              Governing
                Law and Venue.
                This Agreement, including the validity hereof and the rights and
                obligations of the parties hereunder, and all amendments and supplements
                hereof and all waivers and consents hereunder, shall be construed
                in
                accordance with and governed by the laws of the State of New York,
                USA,
                without giving effect to any conflicts of law provisions or rule,
                that
                would cause the application of the laws of any other
                jurisdiction.

            

    

     

    
      	
              8.6

            	
              Severability.
                If any provisions of this Agreement, as applied to any part or to
                any
                circumstance, shall be adjudged by a court to be invalid or unenforceable,
                the same shall in no way affect any other provision of this Agreement,
                the
                application of such provision in any other circumstances or the validity
                or enforceability of this
                Agreement.

            

    

     

    
      
        
        

      

      
        14

        
          

        

      

      
        
        

      

    

     

    
      	
              8.7

            	
              Survival.
                The rights and obligations of the Company and Employee pursuant to
                Articles 3, 4, 5, 6 and 7 shall survive the termination of the Employee’s
                employment with the Company and the expiration of the Employment
                Term.

            

    

     

    
      	
              8.8

            	
              Captions.
                The headings and captions used in this Agreement are used for convenience
                only and are not to be considered in construing or interpreting this
                Agreement.

            

    

     

    
      	
              8.9

            	
              Counterparts.
                This Agreement may be executed in two or more counterparts, each
                of which
                shall be deemed an original, but all of which together shall constitute
                one and the same instrument.

            

    

     

    
      
        
        

      

      
        15

        
          

        

      

      
        
        

      

    

    IN
      WITNESS WHEREOF, the parties hereto have executed this Agreement as of the
      date
      first above written.

     

    
      	
              EMPLOYEE

            	 	 	 
	 	 	 	 
	 	 	 	 
	
              By: 
                /s/
                Kevin
                Ma

            	 	 	
            
	
              
                

              

              Kevin
                Ma

            	 	 	
            
	
            	 	 	
            
	
              SHANGHAI
                CENTURY ACQUISITION CORPORATION

            	 	 	 
	 	 	 	 
	 	 	 	 
	
              By: 
                /s/
                Franklin D. Chu

            	 	 	 
	
              
                

              

              Name:
                Franklin
                D. Chu

            	 	 	 
	
              Title:  
                Co-Chief
                Executive Officer

            	 	 	 

    

     

    
      
        
        

      

      
        16

        
          

        

      

      
        
        

      

    

     

    Exhibit
      A

     

    Key
      Employee Invention Assignment and Confidentiality Agreement

     

    In
      consideration of, and as a condition of my employment with Shanghai Century
      Acquisition Corporation, a Cayman Islands company (as contemplated in the
      employment agreement between Shanghai Century Acquisition Corporation and me
      (the “Employment Agreement”)), or with any its subsidiaries, including, without
      limitation, of (collectively, the “Company”),
      I
      hereby represent to, and agree with, the Company as follows:

     

    I
      hereby
      represent to, and agree with the Company as follows:

     

    
      	
              1.

            	
              Purpose
                of Agreement.
                I
                understand that the Company is engaged in a continuous program of
                research, development, production and marketing in connection with
                its
                business and that it is critical for the Company to preserve and
                protect
                its Proprietary Information (as defined in Section 3 below), its
                rights in
                Inventions (as defined in Section 2 below) and in any other intellectual
                property rights. Accordingly, I am entering into this Employee Invention
                Assignment and Confidentiality Agreement (this “Agreement”) as a condition
                of my continued employment with the Company, whether or not I am
                expected
                to create inventions of value for the
                Company.

            

    

     

    
      	
              2.

            	
              Disclosure
                of Inventions.
                I
                will promptly disclose in confidence to the Company all inventions,
                improvements, designs, original works of authorship, derivative works,
                formulas, processes, compositions of matter, techniques, know-how,
                computer software programs, databases, mask works and trade secrets
                (the
                “Inventions”) that I make or conceive or first reduce to practice or
                create, either alone or jointly with others, during the period of
                my
                employment, whether or not in the course of my employment, and whether
                or
                not such Inventions are patentable, copyrightable or protectible
                as trade
                secrets or mask works.

            

    

     

    
      	
              3.

            	
              Proprietary
                Information.
                I
                understand that my employment by the Company creates a relationship
                of
                confidence and trust with respect to any information of a confidential
                or
                secret nature that may be disclosed to me by the Company that relates
                to
                the business of the Company or to the business of any parent, subsidiary,
                affiliate, customer or supplier of the Company or any other party
                with
                whom the Company agrees to hold information of such party in confidence
                (the “Proprietary Information”). Such Proprietary Information includes but
                is not limited to any confidential and/or proprietary knowledge,
                data or
                information, any past, present or future Inventions, marketing plans,
                product plans, business strategies, financial information (including
                budgets and unpublished financial statements), licenses, prices and
                costs,
                forecasts, personal information, suppliers, customers and lists of
                either,
                information, trade secrets, patents, mask works, ideas, confidential
                knowledge, data or other proprietary information relating to new
                and
                existing products, processes, know-how, designs, formulas, developmental
                or experimental work, improvements, discoveries, designs and techniques,
                computer programs, data bases, other original works of authorship,
                employee information including the skills and compensation of other
                employees of Company, or other subject matter pertaining to any business
                of Company. I agree that Company may from time to time create a list
                of
                specific Proprietary Information and I will acknowledge any such
                lists in
                writing upon request.

            

    

     

    
      
        
        

      

      
        17

        
          

        

      

      
        
        

      

    

     

    
      	
              4.

            	
              Confidentiality.
                At all times, both during my employment and after its termination,
                I will
                keep and hold all such Proprietary Information in strict confidence
                and
                trust. I will not use or disclose any Proprietary Information without
                the
                prior written consent of the Company, except as may be necessary
                to
                perform my duties as an employee of the Company for the benefit of
                the
                Company. Upon termination of my employment with the Company, I will
                promptly deliver to the Company all documents, data and materials
                of any
                nature pertaining to my work with the Company. I will not take with
                me any
                documents or materials or copies thereof containing any Proprietary
                Information.

            

    

     

    
      	
              5.

            	
              Work
                for Hire; Assignment of Inventions.
                I
                acknowledge and agree that any copyrightable works prepared by me
                either
                alone or jointly with others, within the scope of my employment are
“works
                for hire” under the United States Copyright Act and that the Company will
                be considered the author and owner of such copyrightable works. In
                the
                event that any such copyrightable works are not deemed to be “works made
                for hire,” I hereby irrevocably assign all of my right, title and interest
                in and to such copyrightable works to Company. I agree that all Inventions
                that (i) are developed using equipment, supplies, facilities or trade
                secrets of the Company, (ii) result from work performed by me for
                the
                Company, or (iii) relate to the Company’s business or current or
                anticipated research and development (collectively, “Company Inventions”),
                will be the sole and exclusive property of the Company and are hereby
                irrevocably assigned by me to the
                Company.

            

    

     

    
      	
              6.

            	
              Assignment
                of Other Rights.
                In addition to the foregoing assignment of Company Inventions to
                the
                Company, I hereby irrevocably transfer and assign to the Company:
                (i) all
                worldwide patents, patent applications, copyrights, mask works, trade
                secrets and other intellectual property rights in any Company Invention;
                and (ii) any and all Moral Rights (as defined below) that I may have
                in or
                with respect to any Company Invention. I also hereby forever waive
                and
                agree never to assert any and all Moral Rights I may have in or with
                respect to any Company Invention, even after termination of my work
                on
                behalf of the Company. “Moral Rights” mean any rights to claim authorship
                of a Company Invention, to object to or prevent the modification
                of any
                Company Invention, or to withdraw from circulation or control the
                publication or distribution of any Company Invention, and any similar
                right, existing under judicial or statutory law of any country in
                the
                world, or under any treaty, regardless of whether or not such right
                is
                denominated or generally referred to as a “moral
                right”.

            

    

     

    
      	
              7.

            	
              Assistance.
                For no consideration in addition to my salary or wages during my
                employment, I agree to assist the Company in every proper way to
                obtain
                for the Company and enforce patents, copyrights, mask work rights,
                trade
                secret rights and other legal protections for the Company’s Inventions in
                any and all countries. I will execute any documents that the Company
                may
                reasonably request for use in obtaining or enforcing such patents,
                copyrights, mask work rights, trade secrets and other legal protections.
                My obligations under this paragraph will continue beyond the termination
                of my employment with the Company, provided that the Company will
                compensate me at a reasonable rate after such termination for time
                or
                expenses actually spent by me at the Company’s request on such assistance.
                I appoint the Secretary of the Company as my attorney-in-fact to
                execute
                documents on my behalf for this purpose. I hereby waive and quitclaim
                to
                Company any and all claims, of any nature whatsoever, which I now
                or may
                hereafter have for infringement of any proprietary rights assigned
                hereunder to Company.

            

    

     

    
      
        
        

      

      
        18

        
          

        

      

      
        
        

      

    

     

    
      	
              8.

            	
              No
                Breach of Prior Agreement.
                I
                represent that my performance of all the terms of this Agreement
                and my
                duties as an employee of the Company will not breach any invention
                assignment, proprietary information, confidentiality or similar agreement
                with any former employer or other party. I represent that I did not
                bring
                with me to the Company or use in the performance of my duties for
                the
                Company any documents or materials or intangibles of a former employer
                or
                third party that are not generally available to the public or have
                not
                been legally transferred to the
                Company.

            

    

     

    
      	
              9.

            	
              Efforts;
                Duty Not to Compete.
                I
                understand that my employment with the Company requires my undivided
                attention and effort during normal business hours. While I am employed
                by
                the Company, I will not, without the Company’s express prior written
                consent, provide services to, or assist in any manner, any business
                or
                third party which competes with the current or planned business of
                the
                Company.

            

    

     

    
      	
              10.

            	
              Notification.
                I
                hereby authorize the Company to notify my actual or future employers
                of
                the terms of this Agreement and my responsibilities
                hereunder.

            

    

     

    
      	
              11.

            	
              Non-Solicitation
                of Suppliers/Customers.
                During my employment with the Company and after termination of my
                employment, I will not directly or indirectly solicit or take away
                suppliers or customers of the Company if the identity of the supplier
                or
                customer or information about the supplier or customer relationship
                is a
                trade secret or is otherwise deemed confidential information within
                the
                meaning of Chinese law.

            

    

     

    
      	
              12.

            	
              Injunctive
                Relief.
                I
                understand that in the event of a breach or threatened breach of
                this
                Agreement by me the Company may suffer irreparable harm and will
                therefore
                be entitled to injunctive relief to enforce this Agreement, without
                prejudice to any other rights or remedies that Company may have for
                a
                breach of this Agreement.

            

    

     

    
      	
              13.

            	
              Governing
                Law; Severability.
                This Agreement will be governed by and construed in accordance with
                the
                laws of New York, without giving effect to that body of laws pertaining
                to
                conflict of laws. If any provision of this Agreement is determined
                by any
                court or arbitrator of competent jurisdiction to be invalid, illegal
                or
                unenforceable in any respect, such provision will be enforced to
                the
                maximum extent possible given the intent of the parties hereto. If
                such
                clause or provision cannot be so enforced, such provision shall be
                stricken from this Agreement and the remainder of this Agreement
                shall be
                enforced as if such invalid, illegal or unenforceable clause or provision
                had (to the extent not enforceable) never been contained in this
                Agreement. Notwithstanding the forgoing, if the value of this Agreement
                based upon the substantial benefit of the bargain for any party is
                materially impaired, which determination as made by the presiding
                court or
                arbitrator of competent jurisdiction shall be binding, then this
                Agreement
                will not be enforceable against such affected party and both parties
                agree
                to renegotiate such provision(s) in good
                faith.

            

    

     

    
      
        
        

      

      
        19

        
          

        

      

      
        
        

      

    

     

    
      	
              14.

            	
              Counterparts.
                This Agreement may be executed in any number of counterparts, each
                of
                which when so executed and delivered will be deemed an original,
                and all
                of which together shall constitute one and the same
                agreement.

            

    

     

    
      	
              15.

            	
              Titles
                and Headings.
                The titles, captions and headings of this Agreement are included
                for ease
                of reference only and will be disregarded in interpreting or construing
                this Agreement. Unless otherwise specifically stated, all references
                herein to “sections” and “exhibits” will mean “sections” and “exhibits” to
                this Agreement.

            

    

     

    
      	
              16.

            	
              Entire
                Agreement.
                This Agreement, the Employment Agreement, the Employee’s Non-Compete
                Agreement, and the documents referred to herein constitute the entire
                agreement and understanding of the parties with respect to the subject
                matter of this Agreement, and supersede all prior understandings
                and
                agreements, whether oral or written, between or among the parties
                hereto
                with respect to the specific subject matter
                hereof.

            

    

     

    
      	
              17.

            	
              Amendment
                and Waivers.
                This Agreement may be amended only by a written agreement executed
                by each
                of the parties hereto. No amendment of or waiver of, or modification
                of
                any obligation under this Agreement will be enforceable unless set
                forth
                in a writing signed by the party against which enforcement is sought.
                Any
                amendment effected in accordance with this section will be binding
                upon
                all parties hereto and each of their respective successors and assigns.
                No
                delay or failure to require performance of any provision of this
                Agreement
                shall constitute a waiver of that provision as to that or any other
                instance. No waiver granted under this Agreement as to any one provision
                herein shall constitute a subsequent waiver of such provision or
                of any
                other provision herein, nor shall it constitute the waiver of any
                performance other than the actual performance specifically
                waived.

            

    

     

    
      	
              18.

            	
              Successors
                and Assigns; Assignment.
                Except as otherwise provided in this Agreement, this Agreement, and
                the
                rights and obligations of the parties hereunder, will be binding
                upon and
                inure to the benefit of their respective successors, assigns, heirs,
                executors, administrators and legal representatives. The Company
                may
                assign any of its rights and obligations under this Agreement. No
                other
                party to this Agreement may assign, whether voluntarily or by operation
                of
                law, any of its rights and obligations under this Agreement, except
                with
                the prior written consent of the
                Company.

            

    

     

    
      	
              19.

            	
              Further
                Assurances.
                The parties agree to execute such further documents and instruments
                and to
                take such further actions as may be reasonably necessary to carry
                out the
                purposes and intent of this
                Agreement.

            

    

     

    
      	
              20.

            	
              Not
                Employment Contract.
                I
                understand that this Agreement does not constitute a contract of
                employment or obligate the Company to employ me for any stated period
                of
                time.

            

    

     

    
      
        
        

      

      
        20

        
          

        

      

      
        
        

      

    

     

    This
      Agreement shall be effective as of Effective Date as defined in the Employment
      Agreement.

     

    
      
        	
                EMPLOYEE

              	 	 	 
	 	 	 	 
	 	 	 	 
	
                By: 
                  /s/
                  Kevin Ma

              	 	 	
              
	
                
                  

                

                Kevin
                  Ma

              	 	 	
              
	
              	 	 	
              
	
                SHANGHAI
                  CENTURY ACQUISITION CORPORATION

              	 	 	 
	 	 	 	 
	 	 	 	 
	
                By: 
                  /s/ Franklin D. Chu

              	 	 	 
	
                
                  

                

                Name:
                  Franklin
                  D. Chu

              	 	 	 
	
                Title:  
                  Co-Chief
                  Executive Officer

              	 	 	 

      

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    Exhibit
      B

     

    Non-Compete
      Agreement

     

    Dear
      Kevin Ma,

     

    As
      an
      employee of Shanghai Century Acquisition Corporation, a Cayman Islands company
      (as contemplated in the employment agreement between Shanghai Century
      Acquisition Corporation and you (the “Employment Agreement”)), or with any of
      its subsidiaries, including, without limitation, (collectively, the “Company”),
      you must execute and deliver a covenant not to compete with the Company during
      your employment and for a period of two (2) years thereafter. The terms and
      conditions set forth below, as applicable, shall, upon your acceptance thereof,
      become an agreement between you and the Company.

     

    Covenant
      Not to Compete

     

    It
      is
      hereby agreed that, from the Effective Date of the Employment Agreement with
      the
      Company and so long as you are an employee, consultant or serve in a similar
      capacity with the Company or any of its Subsidiaries, you shall devote the
      majority of your time and attention to the Business and affairs of the Company
      and its Subsidiaries and shall in all respects properly perform your duties
      under your employment agreement as is required in the judgment of the Board.
      Subject to the approval of the majority vote of the Board (from which vote
      the
      Employee shall recuse himself) that such service would be in the best interests
      of the Company, the Employee may serve as a director, officer, adviser or
      consultant of other leasing companies.

     

    If
      you
      are no longer employed by or acting as a consultant for the Company or its
      Subsidiaries and you have previously been employed by and/or acted as a
      consultant for the Company for a continuous period of at least three (3) months,
      you shall not be employed by or participate in any manner in the management
      or
      operation of any business or entity that is or may be engaged in the business
      of
      acting as a company engaged in the provision of financial leasing or other
      leasing activities n the PRC for a period of two (2) years after the termination
      of your employment and/or consultancy with the Company.

     

    Covenant
      Not to Solicit Employees

     

    While
      employed by Company and for a period of 18 months after the termination of
      your
      employment with Company, you shall not, directly or indirectly, solicit for
      employment any person who was employed by Company or retained as a consultant
      during your employment with Company. In the event that you hire or employ any
      such person during such 18 month period (without soliciting such person in
      violation of this foregoing restriction), you shall reimburse the Company for
      any and all costs and expenses incurred by the Company to replace such person
      (including, without limitation, costs and expenses incurred for recruiting,
      hiring and training).

     

    
      
        
        

      

      
        21

        
          

        

      

      
        
        

      

    

     

    Covenant
      Not to Divert Business

     

    For
      a
      period of two (2) years after the termination of your employment with Company,
      you shall not, directly or indirectly:

     

    (i) work
      as
      an employee, employer, consultant, agent, principal, partner, manager,
      stockholder, officer, director, or in any other individual or representative
      capacity for any person or entity who or which was a customer of Company during
      your employment with Company, without the Company’s written consent;
      or

     

    (ii) call
      on,
      solicit, or take away for you or for any other person or entity any person
      or
      entity who or which was a customer of Company, or with which Company was in
      negotiations to become a customer of Company, during your employment with
      Company.

     

    Company
      Rights if You Violate this Agreement

     

    In
      the
      event that you do not comply with the terms of this Agreement, any profit
      sharing or stock options to which you would otherwise be entitled will be
      forfeited.

     

    In
      the
      event you do not comply with the terms of this Agreement, we also reserve the
      right to discharge you as an employee. Furthermore, we reserve the right to
      recover monetary damages from you, and we may also recover punitive damages
      to
      the extent permitted by law. In the event that monetary damages are an
      inadequate remedy for any harm suffered by us as a result of a breach of this
      Agreement by you, we may also seek other relief, including an order of specific
      performance or injunctive relief. You will not seek, and you agree to waive
      any
      requirement for, the securing or posting of a bond in connection with our
      seeking or obtaining such relief.

     

    You
      further agree to indemnify and hold us harmless from any damages, losses, costs
      or liabilities (including legal fees and the costs of enforcing this indemnity
      agreement) arising out of or resulting from your failure to abide by the terms
      of this Agreement.

     

    At-Will
      Employment

     

    You
      agree
      and understand that, except as may be provided in any employment agreement
      between you and the Company, your employment with the Company is “at will,”
meaning that it is not for any specified period of time and can be terminated
      by
      you or by the Company at any time, with or without advance notice, and for
      any
      or no particular reason or cause. You agree and understand that it also means
      that job duties, title and responsibility and reporting level, compensation
      and
      benefits, as well as the Company’s personnel policies and procedures, may be
      changed at any time at-will by the Company. You understand and agree that
      nothing about the fact or the content of this Agreement is intended to, nor
      should be construed to, alter the at-will nature of your employment with the
      Company. You also understand and agree that the at-will nature of employment
      with the Company can only be changed by a majority vote of the Company’s Board
      in an express writing signed and dated by it and by you.

     

    Acknowledgment

     

    You
      agree
      that, in light of the substantial benefits you will receive as our employee,
      the
      terms contained in this Agreement are necessary and reasonable in all respects
      and that the restrictions imposed on you are reasonable and necessary to protect
      our legitimate business interests. You acknowledge that a portion of the salary
      you receive during your employment with the Company constitutes due
      consideration for your obligations hereunder. Additionally, you hereby
      acknowledge and agree that the restrictions imposed on you by this Agreement
      will not prevent you from obtaining employment in your field of expertise or
      cause you undue hardship.

     

    
      
        
        

      

      
        22

        
          

        

      

      
        
        

      

    

     

    Governing
      Law

     

    This
      Agreement shall be governed by and construed in accordance with the laws of
      the
      New York, without regard to any conflicts of laws provision
      thereof.

     

    By
      accepting this Agreement, you acknowledge that, given the nature of the
      Company’s business, the provisions contained in this Agreement contain
      reasonable limitations as to time, geographical area and scope of activity
      to be
      restrained, and do not impose a greater restraint than is necessary to protect
      and preserve the Company and to protect the Company’s legitimate interests. If,
      however, the provisions of this Agreement are determined by any court of
      competent jurisdiction or any arbitrator to be unenforceable by reason of its
      extending for too long a period of time or over too large a geographic area
      or
      by reason of its being too extensive in any other respect, or for any other
      reason, it will be interpreted to extend only over the longest period of time
      for which it may be enforceable and over the largest geographical area as to
      which it may be enforceable and to the maximum extent in all other aspects
      as to
      which it may be enforceable, all as determined by such court or arbitrator
      in
      such action.

     

    Please
      confirm your agreement with the foregoing by signing and returning directly
      to
      the undersigned the duplicate copy of this letter enclosed
      herewith.

     

    
      	 	 	 
	 	
              Very
                truly yours,

            
	 	 
	 	
              SHANGHAI
                CENTURY ACQUISITION CORPORATION

            
	 
 	 
 	 
 
	
            	By:  	
              /s/
                Franklin D. Chu

            
	 	
               

              
                Name: 

              

            	
              

              Franklin
                D. Chu

            
	 	
              Title:

            	
              Co-Chief
                Executive Officer

            

    

     

    Accepted
      and agreed to as

    of
      the
      date first above written:

     

    
      	 	 	 	 
	
              /s/
                Kevin Ma

            	 	 	
            
	
              

              Kevin
                Ma

            	 	 	
            

    

     

    
      
        
        

      

      
        23

        
          

        

      

      
        
        

      

    

     

    Exhibit
      C

     

    Form
      of Release Certificate

     

    Kevin
      Ma
      (“You”) and Shanghai Century Acquisition Corporation (the “Company”) have agreed
      to enter into this Release Certificate on the following terms:

     

    Within
      ten (10) days after you sign this Release Certificate (which you may sign no
      sooner than the last day of your employment with the Company), you will become
      eligible to receive severance benefits in accordance with the terms of your
      Employment Agreement dated [date] (“Employment Agreement”).

     

    In
      return
      for the consideration described in the Agreement, you and your heirs, assigns
      and representatives completely release Shanghai Century Acquisition Corporation,
      its affiliated, related, parent or subsidiary corporations, and its and their
      present and former directors, officers, agents, and employees (the “Released
      Parties”) from all claims of any kind, known and unknown, which you may now have
      or have ever had against any of them, or arising out of your relationship with
      any of them, including all claims arising from your employment or the
      termination of your employment, whether based on contract, tort, statute, local
      ordinance, regulation or any comparable law in any jurisdiction (“Released
      Claims”). By way of example and not in limitation, the Released Claims shall
      include any claims arising under Title VII of the Civil Rights Act of 1964,
      the
      Americans with Disabilities Act, the Worker Adjustment and Retraining
      Notification Act, the Age Discrimination in Employment Act, the Older Workers
      Benefit Protection Act, the Employee Retirement Income Security Act, the
      Sarbanes Oxley Act, and the New York Human Rights Law, or any comparable law
      of
      any other jurisdiction or nation, as well as any claims asserting wrongful
      termination, breach of contract, breach of the covenant of good faith and fair
      dealing, negligent or intentional misrepresentation, and defamation and any
      claims for attorneys’ fees. You also affirm that neither you or anyone acting on
      your behalf has taken any action to initiate or cause to be initiated against
      any of the Released Parties any lawsuit, compliance review, administrative
      claim, investigation or proceedings of any kind which pertaining any manner
      to
      the Released Claims.

     

    You
      acknowledge that the release of claims under the Age Discrimination in
      Employment Act (“ADEA”) is subject to special waiver protection. Therefore, you
      acknowledge the following: (a) you have had 21 days to consider this Release
      Certificate (but may sign it at any time beforehand if you so desire); (b)
      you
      have the right to consult an attorney in doing so; (c) you can revoke this
      Release Certificate within seven (7) days of signing it by sending a certified
      letter to that effect to [name and address]; and that (d) notwithstanding the
      foregoing, the portion of this Release Certificate that pertains to the release
      of claims under the ADEA shall not become effective or enforceable and no funds
      shall be exchanged until the 7-day revocation period has expired, but that
      all
      other provisions of this Release Certificate will become effective upon its
      execution by the parties.

     

    You
      also
      acknowledge that: (a) you will receive no other compensation, benefits or
      consideration other than that which is set forth in your Employment Agreement;
      (b) said consideration is satisfactory and adequate in exchange for your
      promises and release contained herein; (c) the Company has fulfilled all of
      its
      obligations under your Employment Agreement; (d) you will not take any action
      of
      make any statement inconsistent with the terms of this release or any Ancillary
      Agreement; (e) you will comply with all of your obligations under all agreements
      with the Company; and (f) you will take all appropriate actions to resign any
      and all positions which you have with the Company or any Affiliate
      thereof.

     

    
      
        
        

      

      
        24

        
          

        

      

      
        
        

      

    

     

    The
      parties agree that this Release Certificate and the Employment Agreement, the
      Key Employee Invention Assignment and Confidentiality Agreement, and the
      Employee’s Non-Compete Agreement contain all of our agreements and
      understandings with respect to their subject matter, and may not be contradicted
      by evidence of any prior or contemporaneous agreement, except to the extent
      that
      the provisions of any such agreement have been expressly referred to in this
      Release Certificate or the Agreement as having continued effect. It is agreed
      that this Release Certificate shall be governed by the laws of the State of
      New
      York. If any provision of this Release Certificate or its application to any
      person, place, or circumstance is held by a court of competent jurisdiction
      to
      be invalid, unenforceable, or void, the remainder of this Release Certificate
      and such provision as applied to other person, places, and circumstances will
      remain in full force and effect.

     

    Please
      note that this Release Certificate may not be signed before the last day of
      your
      employment with the Company, and that your eligibility for severance benefits
      is
      conditioned upon meeting the terms set forth in the Agreement.

     

    
      	 	
              Date:

            	 
	
              [Employee]

            	 	 
	 	 	 
	 	
              Date:

            	 
	
              [Company
                Signatory]

            	 	 

    

     

    
      
        
        

      

      
        25

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