Document:

ex10-10.htm

    Exhibit 10.10

     

    Confidential

     

     

     

    Exclusive
Agreement on the Option of Transfer of Shares

     

     

    of

     

     

    Shanghai
Mopietek Information Technology Co., Ltd.

     

     

    Between

     

     

    Shi
Yongmei

     

     

    Song
Zhiling

     

     

    

     

     

    Shanghai
Mopietek Information Technology Co., Ltd.

     

     

    And

     

     

    Shanghai
Information Technology (Molong) Co., Ltd.

     

     

    

     

     

    

     

     

    Dated
this July 1,
2007

     

     

     

     

     

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

     

     

     

     

    Exclusive
Agreement on Option of Share Transfer

     

     

    This
Exclusive Agreement on Option of Share Transfer (“this Agreement”) is executed
by and between the parties below on July 1st 2007 in
Shanghai, People’s Republic of China (“China” or “PRC”):

     

    
      	 
      	
              1.

            	
              Shi
      Yongmei, a Chinese citizen (ID No: XXXXXXXXXXXXXXXXXX)

            	 
      
	 	 	 	 
	 
      	
              2.

            	
              Song
      Zhiling, a Chinese citizen (ID No: XXXXXXXXXXXXXXXXXX);

            	 
      
	 	 	 	 
	 
      	 
      	(Song
      Yongmei and Song Zhiling are separately or collected referred to as
      “Existing
      Shareholders”)
	 	 	 
	 
      	
              3.

            	
              Shanghai
      Information Technology (Molong) Co., Ltd. (“Molong”)

            	 
      
	 	 	 	 
	 
      	 
      	Registered
      address: Room 1105 No. 1 Lane 127 Guotai Road, Yangpu District,
      Shanghai
	 	 	 
	 
      	
              4.

            	
              Shanghai
      Mopietek Information Technology Co., Ltd (“Mopietek”)

            	 
      
	 	 	 	 
	 
      	 
      	Registered
      address: Room 1103 No. 1 Lane 127 Guotai Road, Yangpu District,
      Shanghai
	 	 	 	 
	 
      	 
      	(In
      this Agreement, the four parties are separately referred to as “a Party”,
      and collectively
      referred to as “the Parties”)
	WHEREAS,	 
      	 
      
	 
      	
              (1)

            	
              Existing
      Shareholders are registered shareholders of Mopietek who lawfully hold all
      shares of Mopietek. Exhibit 1 lists the amount of contributions and
      proportion of of stocks of Existing Shareholders in Mopietek registered
      capital upon execution date hereof.

            
	 	 	 
	 
      	
              (2)

            	
              Existing
      Shareholders wish to transfer their shares in Mopietek to Molong and/or
      any entity or individual designated by Molong pursuant to applicable laws
      of China, and Molong agrees to accept such transfer.

            
	 	 	 
	 
      	
              (3)

            	
              For
      such transfer, Existing Shareholders agree to jointly grant an
      irrevocable, exclusive option of share transfer to Molong (“Option of
      Share Transfer”), by which, to the extent permitted by the Chinese laws,
      the Existing Shareholders shall, as requested by Molong, transfer the
      option shares (as defined below) to Molong and/or any entity or individual
      designated by Molong in accordance with the provisions
      hereunder.

            
	 	 	 
	 
      	
              (4)

            	
              Mopietek
      agrees with such granting of the option from Existing Shareholders to
      Molong in accordance with the provisions hereunder.

            
	 	 	 
	 
      	
              Now
      therefore, the parties agree as follows:

            	 
      
	 	 	 
	
              Article
      1 Definitions

            
	 

    

    
      	 
      	
              1.1

            	
              Unless
      otherwise stipulated in the context, the following terms have the meaning
      as
      defined below:

            

    

     

     

     

     

     

     

     

    
      
        
        

      

      
        -2-

        
          

        

      

      
        
        

      

    

     

     

     

     

     

     

     

    
      	Designated
      Representative:	
              as
      defined in article 3.7 hereto.

            	 
      

    

     

    
      	
              Permits
      and Licenses:

            	
              any
      approval, license, filing or registration necessary for Mopietek to
      lawfully and validly operate information service business in category-II
      value-added telecom business in China (exclusive of fixed phone business
      and Internet information service) and information service business in
      category-II value-added telecom business in Shanghai (limited to Internet
      information service only), including but not limited to Business License
      for Enterprise as Legal Person, Taxation Registration Certificate, License
      for Value-added Telecom Business, and any other necessary approvals and
      licenses as required by applicable laws of China.

            	 
      
	 	 	 
	
              Confidential
      Information:

            	
              as
      defined in article 8.1 hereto.

            	 
      
	 	 	 
	
              Default
      Party:

            	
              as
      defined in article 11.1 hereto.

            	 
      
	 	 	 
	
              Default:

            	
              as
      defined in article 11.1 hereto.

            	 
      
	 	 	 
	
              Notice
      of Exercise:

            	
              as
      defined in article 3.5 hereto.

            	 
      
	 	 	 
	
              Mopietek
      Registered Capital:

            	
              10
      Million RMB upon execution of this Agreement, and any additional
      registered capital within the term of this Agreement.

            	 
      
	 	 	 
	
              Mopietek
      Assets:

            	
              all
      tangible and intangible assets of Mopietek derived or legally used by
      Mopietek during the term of this Agreement, including but not limited to
      any real estate, personal property, trademark, copyright, patent,
      proprietary technologies, domain name, software license and other
      IPRs.

            	 
      
	 	 	 
	
              Material
      Agreement:

            	
              Any
      agreement binding upon Mopietek and having material impact on Mopietek
      business or assets, including but not limited to Exclusive Agreement of
      Technology License and Service reached between Mopietek and Molong, and
      any other agreement related to Mopietek business.

            	 
      

    

     

     

     

     

     

    
      
        
        

      

      
        -3-

        
          

        

      

      
        
        

      

    

     

     

     

     

     

    
      	 	 	 
	
              Conforming
      Party:

            	
              as
      defined in article 11.1 hereto.

            	 
      
	 	 	 
	
              Option
      of Shares:

            	
              for
      each Existing Shareholder, all shares of Mopietek registered capital held
      by each Existing Shareholder; for all Existing Shareholders, all shares of
      Mopietek registered capital held by Existing Shareholders.

            	 
      
	 	 	 
	
              Chinese
      Laws:

            	
              prevailing
      Chinese laws, administrative regulations, by-laws, local rules, juridical
      explanation and other binding regulatory documents.

            	 
      
	 	 	 
	
              Letter
      of Attorney:

            	
              as
      defined in article 3.7 hereto.

            	 
      
	 	 	 
	
              Subject
      Right:

            	
              as
      defined in article 12.5 hereto.

            	 
      
	 	 	 
	
              Maximum
      Shareholding Percentage:

            	
              as
      defined in article 3.2 hereto.

            	 
      
	 	 	 
	
              Right
      of Share Transfer:

            	
              when
      exercising the option of share transfer (“Exercise”), Molong, according to
      article 3.2 hereto, is entitled to request either or both Existing
      Shareholders to transfer all or part of shares of Mopietek to Molong or
      any entity or individual designated by Molong, at the sole discretion of
      Molong in light of then prevailing Chinese Laws and business
      factors.

            	 
      
	 	 	 
	
              Transfer
      Price:

            	
              according
      to article 4 hereto, upon each Exercise, all consideration of the shares
      hereunder purchased by Molong or any entity or individual designated by
      Molong paid to Existing Shareholders.

            	 
      

    

     

    
      	
              1.2

            	
              Any
      reference of any Chinese laws hereunder shall be deemed
  as:

            
	 	 
	 
      	
              (1)

            	
              Inclusive
      of any amendment, change, addition and replacement thereof, whether prior
      to or after the execution date hereunder; and

            
	 	 	 
	 
      	
              (2)

            	
              Inclusive
      of any other decision, notice and regulation pursuant to or effective as
      per such laws.

            

    

     

    
      	
              1.3

            	
              Unless
      otherwise set in the context, the articles, clauses, items and paragraphs
      hereto refer to the provisions
hereto.

            

    

     

     

     

     

     

     

     

    
      
        
        

      

      
        -4-

        
          

        

      

      
        
        

      

    

     

     

     

     

    
 

     

    
      	
              Article
      2 Granting
      of Option of Share Transfer

            
	 
	
              2.1

            	
              The
      Existing Shareholders separately and jointly agree to grant irrevocable,
      exclusive option of share transfer to Molong without any conditions, by
      which Molong is entitled, to the extent permitted by the Chinese laws,
      request Existing Shareholders to transfer their shares in Mopietek to
      Molong and/or any entity or individual designated by Molong in the manner
      set hereunder, and Molong hereby accepts such option.

            
	 	 
	
              2.2

            	
              Mopietek
      hereby agrees that Existing Shareholders should transfer such option to
      Molong according to article 2.1 and other provisions
    hereto.

            
	 	 
	
              Article
      3 Manner
      of Exercise

            
	 	 
	
              3.1

            	
              To
      the extent permitted by the Chinese laws, Molong may, at its sole
      discretion, determine the time, manner and times of
    Exercise.

            
	 	 
	
              3.2

            	
              If
      Molong or the entity or individual designated by Molong are permitted by
      then prevailing Chinese Laws to hold all shares of Mopietek, Molong is
      entitled to exercise the option hereunder once for all, when Molong and/or
      any entity or individual designated by Molong shall acquire all Option
      Shares transferred by the Existing Shareholders; if Molong or the entity
      or individual designated by Molong are permitted by then prevailing
      Chinese Laws to hold only part of shares of Mopietek, Molong is entitled
      to exercise the option hereunder not exceeding the maximum shareholding
      percentage as stipulated by prevailing Chinese Laws (“Maximum Shareholding
      Percentage”), when Molong and/or any entity or individual designated by
      Molong shall acquire such part of Option Shares transferred by the
      Existing Shareholders. In the latter case, Molong is entitled to exercise
      the Option within the rising Maximum Shareholding Percentage as permitted
      by Chinese Laws for more than once, until holding up to 100% shares of
      Mopietek.

            
	 	 
	
              3.3

            	
              Upon
      each Exercise, Molong is entitled to designate the number of Option Shares
      to be transferred by Existing Shareholders to Molong and/or any entity or
      individual designated by Molong, when the Existing Shareholders should
      transfer such number of Option Shares to Molong and/or any entity or
      individual designated by Molong. Molong and/or any entity or individual
      designated by Molong should pay Existing Shareholders the Transfer Price
      with regard to such number of Option Shares upon each
      Exercise.

            
	 	 
	
              3.4

            	
              Upon
      each Exercise, Molong or any third party designated by Molong may accept
      all or part of the Option Shares.

            
	 	 
	
              3.5

            	
              Upon
      each Exercise, Molong shall issue the notice of exercising the transfer
      option (“Exercise Notice”, with the format set in exhibit 2 hereto). Upon
      the receipt of such notice, Existing Shareholders should transfer the
      shares under the notice, in the manner set in article 3.3 hereto, to
      Molong and/or any entity or individual designated by Molong once for
      all.

            

    

     

     

     

     

     

     

    
      
        
        

      

      
        -5-

        
          

        

      

      
        
        

      

    

     

     

     

     

     

    
      	 	 
	
              3.6

            	
              The
      Existing Shareholders separately and jointly promise and warrant that,
      upon receipt of the Exercise Notice, they shall:

            
	 	 

    

    
      	
               
      

            	
              (1)

            	
              Immediately
      hold shareholder meeting, adopt a shareholder resolution and
      take all necessary actions to cause the transfer of all Option Shares to
      Molong and/or any entity or individual designated by Molong at the
      Transfer Price;

            
	 	 	 

    

    
      	 
      	
              (2)

            	
              Immediately
      enter into the share transfer agreement with Molong and/or any entity or
      individual designated by Molong to transfer all Option Shares to Molong
      and/or any entity or individual designated by Molong;
  and

            
	 	 	 	 
	 
      	
              (3)

            	
              As
      requested by Molong and applicable laws/regulations, provide reasonable
      assistance to Molong (including supplying and executing of all relevant
      legal documents, going through all necessary government approval and
      registration procedures, undertaking all relevant obligations) to enable
      Molong and/or any entity or individual designated by Molong to obtain all
      Option Shares without any legal defects.

            
	 	 	 

    

    
      	
              3.7

            	
              Upon
      execution of this Agreement, the Existing Shareholders should separately
      execute a letter of attorney (“Letter of Attorney”, with the format set in
      exhibit 3 hereto) to appoint any one designated by Molong (“Designated
      Representative”) to execute any and all necessary legal documents
      according to this Agreement on behalf of such Existing Shareholders to
      enable Molong and/or any entity or individual designated by Molong to
      obtain all Option Shares without any legal defects. The Letter of Attorney
      shall be kept by Molong, and Molong is entitled to, when necessary,
      request Existing Shareholders to execute duplicates of the Letter of
      Attorney, and furnish such Letter of Attorney to competent government
      authorities. Existing Shareholders shall rescind the appointment of such
      Designated Representative immediately upon the receipt of the written
      notice of Molong for replacing such representative, and appoint other
      representative designated by Molong to execute any and all necessary legal
      documents according to this Agreement on behalf of such Existing
      Shareholders. The replacing Letter of Attorney shall forthwith supercede
      the original one; otherwise Existing Shareholders shall not rescind the
      Letter of Attorney to the Designated
  Representative.

            

    

     

    
      	 	 
	
              Article
      4 Transfer
      Price

            
	 
	
              Upon
      each Exercise, Molong and/or any entity or individual designated by Molong
      shall pay the minimum price permitted by the prevailing Chinese laws to
      Existing Shareholders as the Transfer Price.

            
	
              Article
      5 Warranty
      and Presentations

            
	 
	
              5.1

            	
              Existing
      Shareholders separately and jointly warrant and present as below, which
      shall remain valid as if made upon each Exercise.

            
	 	 
	 
      	
              5.1.1

            	
              Existing
      Shareholders are Chinese citizens of full capacity, havecomplete and
      independent legal status and capacity to execute, deliver and
      perform this Agreement, and can act as an independent party of
      any litigation.

            

    

     

     

     

     

     

    
      
        
        

      

      
        -6-

        
          

        

      

      
        
        

      

    

     

     

     

     

     

    
      	 	
              5.1.2

            	
              Mopietek
      is a limited liability company duly registered and existing under Chinese
      Laws, is qualified as an independent legal entity, has complete and
      independent legal status and capacity to execute, deliver and perform this
      Agreement, and can act as an independent party of any
      litigation.

            
	 	 	 
	 	
              5.1.3

            	
              Existing
      Shareholders have full authorization and power for execution and delivery
      of this Agreement and any other necessary documents in connection with the
      transaction hereunder; and full authorization and power for the
      transaction hereunder.

            
	 	 	 
	 	
              5.1.4

            	
              This
      Agreement is duly and properly executed and delivered by Existing
      Shareholders, constitutes lawful and binding obligations of the parties
      hereto, and can be enforced accordingly.

            
	 	 	 
	 	
              5.1.5

            	
              Existing
      Shareholders, upon effective date of this Agreement, are lawful registered
      owner of the Option Shares. Except for the rights under this Agreement,
      Share Pledge Agreement with Molong, and Trust Agreement of Shareholder
      Voting Rights with Molong and Mopietek, the Option Shares are not burdened
      with any lieu, pledge, claim, other guarantee and third-party rights.
      According to this Agreement, Molong and/or any entity or individual
      designated by Molong, after each Exercise, will procure the good ownership
      of the Option Shares without any lieu, pledge, claim, other guarantee and
      third-party rights.

            
	 	 	 
	 	
              5.2

            	
              Mopietek
      hereby warrants and represents that:

            
	 	 	 	 
	 	 
      	
              5.2.1

            	
              Mopietek
      is a limited liability company duly registered and existing under Chinese
      Laws, is qualified as an independent legal entity, has complete and
      independent legal status and capacity to execute, deliver and perform this
      Agreement, and can act as an independent party of any
      litigation.

            

    

     

    
      	 	
              5.2.2

            	
              Mopietek
      has full authorization and power for execution and delivery of this
      Agreement and any other necessary documents in connection with the
      transaction hereunder; and full authorization and power for the
      transaction hereunder.

            
	 	 	 
	 	
              5.2.3

            	
              This
      Agreement is legally and properly executed and delivered by Mopietek, and
      constitutes lawful and binding obligations of Mopietek.

            
	 	 	 
	 	
              5.2.4

            	
              Upon
      execution of this Agreement, Existing Shareholders are all legally
      registered shareholders of Mopietek. According to this Agreement, Molong
      and/or any entity or individual designated by Molong, after each Exercise,
      will procure the good ownership of the Option Shares without any
      lieu, pledge, claim, other guarantee and third-party
      rights.

            

    

     

     

     

     

     

     

    
      
        
        

      

      
        -7-

        
          

        

      

      
        
        

      

    

     

     

     

     

     

     

     

    
      	 	
              5.2.5

            	
              Upon
      execution of this Agreement, Mopietek has all necessary Permits and
      Licenses for its operation, has full authorization and qualification to
      operate information service business in category-II value-added telecom
      business in China (exclusive of fixed phone business and Internet
      information service) and information service business in category-II
      value-added telecom business in Shanghai (limited to Internet information
      service only). Since the incorporation, Mopietek has never violated or
      possibly violated any regulations and rules of industrial and commercial,
      tax, telecom, quality and technical supervision, labor and social security
      authorities, and other government agencies, nor involved into any conflict
      arising out of any contract violation.

            	 
      
	 	 	 	 
	
              Article
      6 Promise
      of Existing Shareholders

            
	 
	The
      Existing Shareholders hereby respectively warrants that:	 
      

    

     

    
      	
              6.1

            	
              During
      the term hereof, take all reasonable measures to assist Mopietek to
      procure, and maintain the validity of, all necessary Permits and Licenses
      for its operation.

            
	 	 	 
	
              6.2

            	
              During
      the term hereof, without prior written consent of Molong:

            	 
      

    

     

    
      	 
      	
              6.2.1

            	
              No
      Existing Shareholders shall transfer or dispose, in any manner, any Option
      Shares, or place any pledge or third-party rights on any Option
      Shares.

            
	 	 	 
	 
      	
              6.2.2

            	
              Not
      increase or decrease registered capital of Mopietek;

            
	 	 	 
	 
      	
              6.2.3

            	
              Not
      dispose or cause Mopietek management to dispose any Mopietek assets
      (except for normal business operation);

            
	 	 	 
	 
      	
              6.2.4

            	
              Not
      terminate, or cause Mopietek management to terminate any Material
      Agreement binding upon Mopietek, nor to enter into any agreement in
      conflict with any Material Agreement;

            
	 	 	 
	 
      	
              6.2.5

            	
              Not
      appoint or replace any Mopietek director, supervisor or managing personal
      appointed by Existing Shareholders;

            
	 	 	 
	 
      	
              6.2.6

            	
              Not
      request or agree Mopietek to declare or distribute any allocable profit,
      dividend, bonus or stock interest;

            
	 	 	 
	 
      	
              6.2.7

            	
              Guarantee
      that Mopietek will legally exist, and shall not be terminated, liquidated
      or dissolved;

            
	 	 	 
	 
      	
              6.2.8

            	
              Not
      cause or agree with any modification of Mopietek articles of association;
      and

            
	 	 	 
	 
      	
              6.2.9

            	
              Guarantee
      that Mopietek will not have any debt or creditor right, or guarantee or
      any other guarantee activities, or any other material obligations
      except for normal business
operation.

            

    

     

     

     

     

     

     

     

    
      
        
        

      

      
        -8-

        
          

        

      

      
        
        

      

    

     

     

     

     

     

     

    
      	
              6.3

            	
              During
      the term of this Agreement, Existing Shareholders will try every
      reasonable endeavors to promote Mopietek business, ensure Mopietek’s legal
      and regulated operation, and will not take any action or no-action that
      may impair Mopietek assets, goodwill and validity of Mopietek Permits and
      Licenses.

            
	 	 
	
              Article
      7 Promises
      of Mopietek

            
	 
	
              7.1

            	
              Mopietek
      will try every reasonable endeavors to procure any necessary third-party
      consent, approval, waiver, authorization or any government approval,
      license, exemption or any registration or filing with any government
      agency (statutory) for execution and performance of this Agreement,
      granting of the Option hereunder.

            
	 	 
	
              7.2

            	
              Without
      prior written consent of Molong, Mopietek will not assist with or permit
      Existing Shareholders to transfer or dispose of, in any other manner, any
      Option of Share Transfer, or place any pledge or third-party right on any
      Option of Share Transfer.

            
	 	 
	
              7.3

            	
              Mopietek
      will not, nor permit any third party to, take any action or no-action
      adversely impacting the rights of Molong hereunder.

            
	 	 
	
              Article
      8 Non
      Disclosure

            
	 
	
              8.1

            	
              Regardless
      of termination of this Agreement, Existing Shareholders shall not disclose
      the following information (“Confidential Information”):

            
	 	 
	 
      	
              (i)

            	
              Execution,
      performance and contents of this Agreement;

            
	 	 	 
	 
      	
              (ii)

            	
              Any
      trade secret, confidential information and customer information of
      Mopietek disclosed to or received by Existing Shareholders for execution
      and performance of this Agreement;

            
	 	 	 
	 
      	
              (iii)

            	
              Any
      trade secret, confidential information and customer information of
      Mopietek disclosed to or received by Existing Shareholders acting as the
      shareholders of Mopietek.

            

    

     

    
      	 
      	
              Existing
      Shareholders shall not use such Confidential Information except for the
      performance of this Agreement. Without written consent of Molong, no
      Existing Shareholders shall disclose above Confidential Information to any
      third party, any default party herein shall be liable for default
      liability and indemnify any loss thus
incurred.

            

    

     

    
      	
              8.2

            	
              Upon
      termination of this Agreement, the Existing Shareholders shall return,
      destroy or dispose of all documents, materials and software containing
      Confidential Information as requested by Molong, and stop any use
      thereof.

            
	 	 
	
              8.3

            	
              Notwithstanding
      provisions to the contrary, the provisions herein shall survive any
      termination or suspension of this
Agreement.

            

    

     

     

     

     

     

     

    
      
        
        

      

      
        -9-

        
          

        

      

      
        
        

      

    

     

     

     

     

     

    
      	
              Article
      9 Term

            
	 
	
              This
      Agreement shall take effect upon due execution, and be terminated when all
      Option Shares are transferred to Molong and/or other entity or individual
      designated by Molong.

            
	 
	
              Article
      10 Notices

            
	 
	
              10.1

            	
              Any
      notice, demand, request and other correspondence requested by or made in
      accordance with this Agreement shall be sent to the other party in
      writing.

            
	 	 
	
              10.2

            	
              Above
      notice or correspondence sent by fax or telex shall be deemed as given
      upon sending out; or deemed as given upon personal delivery; or five (5)
      days after mailing.

            
	 	 
	
              Article
      11 Defaults

            
	 
	
              11.1

            	
              The
      parties agree and confirm that either party (“Default Party”) in material
      violation of any provision hereto or material default of any obligation
      hereto constitute the default against this Agreement (“Default”), when the
      conforming party (“Conforming Party”) is entitled to notify the Default
      Party to make correction or remedy thereof within reasonable period. In
      case of no correction or remedy within the reasonable period or within ten
      (10) days after the written notice thereof, if the Default Party is
      Existing Shareholder or Mopietek, the Conforming Party is entitled to
      resort to any one of the following solutions: (1) Terminate this agreement
      and claim all indemnification of any loss thus incurred; or (2) Request
      performance of the obligations hereunder and claim all indemnification of
      any loss thus incurred; if the Default Party is Molong, the Conforming
      Party is entitled to request the Default Party to perform obligations
      hereunder and claim all indemnification of any loss thus
      incurred.

            
	 	 
	
              11.2

            	
              The
      parties agree and confirm that neither Existing Shareholder nor Mopietek
      shall terminate this Agreement in any circumstances.

            
	 	 
	
              11.3

            	
              The
      rights and remedies hereunder are accumulative, and shall not exclude any
      other legal rights and remedies.

            
	 	 
	
              11.4

            	
              Notwithstanding
      any provisions to the contrary, the provisions herein shall survive any
      termination or suspension of this Agreement.

            
	 	 
	
              Article
      12 Miscellaneous

            
	 
	
              12.1

            	
              This
      Agreement is made in Chinese in four (4) originals with each party holding
      one (1) copy.

            
	 	 
	
              12.2

            	
              The
      execution, effectiveness, performance, amendment, interpretation and
      termination of this Agreement are governed by laws of
    China.

            
	 	 
	
              12.3

            	
              Any
      dispute arising out of or in connection with this Agreement shall be
      settled via mutual consultation. Any dispute failing friendly settlement
      within thirty (30) days shall be submitted to China International Economic
      and Trade Arbitration Commission Shanghai Branch for arbitration under its
      then prevailing rules. The arbitration
      is final and binding upon the parties.

            
	 	 

    

     

     

     

     

     

     

    
      
        
        

      

      
        -10-

        
          

        

      

      
        
        

      

    

     

     

     

     

     

    
      	
              12.4

            	
              Any
      rights, power and remedy granted to the parties hereunder shall not
      preclude any other right, power or remedy of such party in accordance with
      applicable laws/regulations and other provisions hereto, any exercise of
      such right, power and remedy shall not preclude such party of the exercise
      of other right, power and remedy.

            
	 	 
	
              12.5

            	
              Any
      non-exercise or delay in exercising any right, power and remedy hereunder
      or under applicable laws (“such Right”) shall not lead to any waiver of
      such Right, any waiver of single or part of such Right shall not preclude
      the right of such party to exercise such Right in any other manner or
      exercise other rights.

            
	 	 
	
              12.6

            	
              The
      headings hereto are for reference only, and shall not influence the
      interpretation of the provisions hereto.

            
	 	 
	
              12.7

            	
              Any
      provision hereto constitutes a several part of this Agreement. Any
      provision or provisions found invalid, illegal or unenforceable any time
      shall not prejudice against the validity, legality and enforceability of
      any other provisions hereto.

            
	 	 
	
              12.8

            	
              This
      Agreement as duly executed shall supercede any previous oral or written
      agreement regarding the subject matter hereunder among the parties hereto.
      Any amendment and addition thereof shall be made in writing, and take
      effect upon due execution of the parties hereto.

            
	 	 
	
              12.9

            	
              Without
      prior written consent of Molong, neither Existing Shareholders nor
      Mopietek shall transfer any rights and/or obligations hereunder to any
      third party, Molong is entitled to transfer any rights and/or obligations
      of Molong hereunder to any third party with notice thereof to Existing
      Shareholders and Mopietek.

            
	 	 
	
              12.10

            	
              This
      Agreement is binding upon lawful successors of the parties
      hereto.

            
	 	 

    

     

     

    
      	
              (End
      of text)

            

    

     

     

     

     

     

     

     

     

     

    
      
        
        

      

      
        -11-

        
          

        

      

      
        
        

      

    

     

     

     

     

     

     

     

    [Signature
Page]

     

    Now
therefore, the parties hereby set their hands on this exclusive Agreement as of
the date first above written.

     

     

    Shi
Yongmei

    Signature:

     

    Song
Zhiling

    Signature:

     

    Shanghai
Information Technology (Molong) Co., Ltd. (seal)

    Signature:
Fu Qian

    Name:

    Title:
authorized representative

     

    Shanghai
Mopietek Information Technology Co., Ltd (seal)

    Signature:
Song Zhiling

    Name:

    Title:
authorized representative

     

     

     

     

     

    
      
        
        

      

      
        -12-

        
          

        

      

      
        
        

      

    

     

     

    
 

     

     

    
      	
              Exhibit
      1

            

    

     

     

    
      	
               
      

            	
              Profile
      of Mopietek

            

    

     

    
      	
               
      

            	
              Name:
      Shanghai Mopietek Information Technology Co.,
  Ltd.

            

    

     

    
      	
               
      

            	
              Registered
      address: Room 1103 No. 1 Lane 127 Guotai Road, Yangpu District,
      Shanghai

            

    

     

    
      	
               
      

            	
              Registered
      capital: 10 Million RMB

            

    

     

    
      	
               
      

            	
              Legal
      representative: Song Zhiling

            

    

     

    
      	
               
      

            	
              Shareholding
      Structure

            

    

     

    
      	
              Shareholders

            	
              Amount
      of contribution

            	
              Shareholding
      proportion

            
	
              Shi
      Yongmei

            	
              9
      Million RMB

            	
              90%

            
	
              Song
      Zhiling

            	
              1
      Million RMB

            	
              10%

            
	
              Total

            	
              10
      Million RMB

            	
              100%

            

    

     

    
      	
               
      

            	
              Financial
      year: January 1 to December 31 in one calendar
  year

            

    

     

     

     

     

     

     

     

    
      
        
        

      

      
        -13-

        
          

        

      

      
        
        

      

    

     

     

     

     

     

    
      	
               
      

            	
              Exhibit
      2

            

    

     

     

    
      	
               
      

            	
              Sample of Notice of
      Exercise

            

    

     

    
      	
               
      

            	
              To:
      [Existing Shareholders]

            

    

     

    Your
attention is invited to the Exclusive Agreement on Option of Share Transfer
(“Option Agreement”) executed by our company with you and Shanghai Mopietek
Information Technology Co., Ltd. (“Mopietek”), by which you should, as requested
by our company when permitted by then prevailing Chinese laws and regulations,
to transfer the shares of Mopietek held by you/your company to us or any third
party designated by us.

     

    
      	
               
      

            	
              We
      hereby notify you as below:

            

    

     

    We
request to exercise the share-transfer option under the Option Agreement, by
which ____% shares of Mopietek held by you (“Transfer Shares”) shall be
transferred to us/[company/individual] designated by us. You should, upon the
receipt of this notice, forthwith transfer the Transfer Shares to
us/[company/individual] designated by us.

     

     

    

     

     

    
      	
               
      

            	
              Yours
      faithfully

            

    

     

    
      	
               
      

            	
              Shanghai
      Information Technology (Molong) Co.,
Ltd.

            

    

     

    
      	
               
      

            	
              (seal)

            

    

     

    
      	
               
      

            	
              Authorized
      representative:

            

    

     

    
      	
               
      

            	
              Date:

            

    

     

     

     

     

     

     

     

     

    
      
        
        

      

      
        -14-

        
          

        

      

      
        
        

      

    

     

     

     

     

     

     

     

    
      	
               
      

            	
              Exhibit
      3:

            

    

     

     

    
      	
               
      

            	
              Sample of Letter of
      Attorney

            

    

     

     

    
      	
               
      

            	
              I,
      _______, hereby irrevocably appoint ___________ [ID No.________] as my
      authorized representative to execute the share transfer agreement and
      other necessary legal documents about the shares of Shanghai Mopietek
      Information Technology Co., Ltd. among me, Shanghai Mopietek Information
      Technology Co., Ltd. and Shanghai Information Technology (Molong) Co.,
      Ltd..

            

    

     

     

    

     

     

    
      	
               
      

            	
              Signature:

            

    

     

    
      	
               
      

            	
              Date:

            

    

     

     

     

     

     

     

    
      
        
        

      

      
        -15-ex10-11.htm

    Exhibit
10.11

     

     

    EXCLUSIVE
TECHNICAL

    AND
CONSULTING SERVICES AGREEMENT

    

    This
Exclusive Technical Consulting and Services Agreement (the “Agreement”) is entered into in
[       ]. China, as of 1st, July,
2007, between the following two parties,

     

    
      	 
      	 
      	 
      	 
      	 
      
	
              Party
      A:

            	 
      	 
      	 
      	 
      
	 	 	 	 	 
	 
      	
              Shanghai
      Information Technology (Molong) Co., Ltd. (“Molong”)

            
	 	 
	 
      	
              Registered
      address: Room 1105 No. 1 Lane 127 Guotai Road, Yangpu District,
      Shanghai

            
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
              Legal
      representative: Fu Qian

            	 
      	 
      

    

    
      	 
      	 
      	 
      	 
      	 
      
	
              Party
      B:

            	 
      	 
      	 
      	 
      
	 	 	 	 	 
	 
      	
              Shanghai
      Mopietek Information Technology Co., Ltd (“Mopietek”)

            
	 	 
	 
      	
              Registered
      address: Room 1103 No. 1 Lane 127 Guotai Road, Yangpu District,
      Shanghai

            
	 	 
	 
      	 
      	Legal
      representative: Song Zhiling	 
      	 
      

    

     

    
      	
              WHEREAS,

            	 
      	 
      	 
      
	 
      	 
      	 
      	 
      
	
              1.

            	
              Party
      A, a wholly foreign-owned enterprise registered in People’s Republic of
      China (the “PRC”)
      under the laws of PRC, which owns resources to provide the software
      development and the technical and consulting services.

            
	 
      	 
      	 
      	 
      
	
              2.

            	
              Party
      B, a limited liability company established and registered in PRC with the
      license issued by relevant government authorities to engaging in the
      business of the value-added telecommunication service;

            
	 
      	 
      	 
      	 
      
	
              3.

            	
              Party
      A agrees to provide technical and consulting services for Party B, and
      Party B hereby agrees to accept such technical and consulting
      services.

            
	 
      	 
      	 
      	 
      
	
              WHEREAS,
      Party A and Party B, through friendly negotiation and based on the
      equality and mutual benefit, enter into the Agreement as
      follows:

            
	 
      	 
      	 
      	 
      
	
              1.

            	
              Technical
      Consulting and Services; Ownership and Exclusive Interests

            	 
      	 
      

    

    
      	 
      	 
      	 
      	 
      
	 
      	
              1.1

            	
              During
      the term of this Agreement, Party A agrees to provide the relevant
      technical consulting and services (detailed businesses are specified in
      Appendix 1) for Party B in accordance with the
  Agreement.

            
	 
      	 
      	 
      	 
      
	 
      	
              1.2

            	Party
      B hereby agrees to accept such technical and consulting services. Party B
      further agrees that, during the term of this Agreement, it shall not
      accept any third party (except for the party appointed by Party A) to
      provide such technical and consulting services in terms of the
      above-mentioned businesses without Party A’s prior written consent.

    

     

     

     

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

     

     

     

     

    
      	 
      	 
      	 
      	 
      	 
      
	 
      	
              1.3

            	
              Party
      A shall be the sole and exclusive owner of all rights, title, interests
      and intellectual property rights (including but not limited to, copyright,
      patent, know-how, commercial secret) arising from the performance of this
      Agreement, whether developed by Party A or by Party B based on Party A’s
      intellectual property.

            
	 
      	 
      	 
      	 
      	 
      
	 
      	
              1.4

            	
              Party
      B undertakes that Party A shall have the priority right on cooperation
      with Party B or its affiliates in the same conditions in case Party B is
      going to cooperate with other enterprises in respect of any
      businesses.

            
	 
      	 
      	 
      	 
      	 
      
	
              2.

            	
              Calculation
      and Payment of the Fee for Technical and Consulting Services (the
      “Fee”)

            	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	
              2.1

            	
              The
      Parties agree that the Fee under this Agreement shall be determined and
      paid according to the Appendix 2 hereof.

            
	 
      	 
      	 
      	 
      	 
      
	
              3.

            	
              Representations
      and Warranties

            	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	
              3.1

            	
              Party
      A hereby makes representations and warranties as
  follows:

            

    

     

    
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
              3.1.1

            	
              Party
      A is a company duly registered and validly existing under the laws of the
      PRC;

            
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
              3.1.2

            	
              Party
      A shall perform this Agreement within its authority and its business
      scope, shall obtain necessary approvals from its company and the consents
      from the third party or the government authorities, and shall not be
      against any enforceable and effective laws or contracts;
    and

            

    

     

    
      	 
      	
              3.1.3

            	the
      agreement constitutes a legal, valid, binding and enforceable agreement to
      Party A upon its execution.

    

     

    
      	 
      	 
      	 
      	 
      	 
      
	 
      	
              3.2

            	
              Party
      B hereby represents and warrants as follows:

            	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
              3.2.1

            	
              Party
      B is a company duly registered and validly existing under the laws of the
      PRC and is licensed to engage in the business of value-added
      telecommunication services in PRC;

            
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
              3.2.2

            	
              Party
      B shall continue to develop and grow its business to the best of its
      ability;

            
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
              3.2.3

            	
              Party
      B shall perform this Agreement within its authority and its business
      scope, and shall obtain and maintain all necessary approvals from its
      company and all consents from the third party or the government
      authorities or under law to enable it to carry on its business of value
      added telecommunication services in PRC, and shall not be in breach of any
      enforceable and effective laws or contracts in the PRC;
  and

            
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
              3.2.4

            	
              the
      Agreement constitutes a legal, valid, binding and enforceable agreement to
      Party
      B upon its execution.

            

    

     

     

     

     

     

     

     

    
      
        
        

      

      
        -2-

        
          

        

      

      
        
        

      

    

     

     

     

     

     

     

    
      	 
      	 
      	 
      	 
      	 
      
	
              4.

            	
              Confidentiality

            	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	
              4.1

            	
              Party
      A and Party B agree to use all reasonable means to protect and maintain
      the confidentiality of the confidential data and information acknowledged
      or received (collectively the “Confidential
      Information”).  Neither Party shall disclose, provide or
      transfer any Confidential Information to any third party without the other
      Party’s prior written consent.  Upon termination or expiration
      of this Agreement, each Party shall, at the other Party’s option, return
      all and any documents, information or software contained any of
      Confidential Information to the original owner, or destroy or delete all
      Confidential Information from any memory devices, and never use them
      again. Each Party shall take necessary measures to disclose Confidential
      Information only to the employees, agents or professional consultants who
      are necessary to know and procure them to observe the confidential
      obligations hereunder.

            
	 
      	 
      	 
      	 
      	 
      
	 
      	
              4.2

            	
              The
      above restrictions shall not apply to:

            	 
      	 
      

    

     

    
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
              4.2.1

            	
              the
      materials available to the public at the time of
    disclosure;

            
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
              4.2.2

            	
              the
      materials that become available to the public after the disclosure not due
      to the fault of any Party;

            
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
              4.2.3

            	
              the
      materials, which are not obtained directly or indirectly from any other
      party, proved to be known by Party B before the disclosure;
    or

            
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
              4.2.4

            	
              the
      information that each Party is required by law to disclose to relevant
      government authorities and stock exchanges, or that is necessary to
      disclose the above Confidential Information directly to its legal
      counselor or financial consultant in order for its ordinary business
      purpose.

            
	 
      	 
      	 
      	 
      	 
      
	 
      	
              4.3

            	
              Both
      Parties agree that this Article shall survive the modification, rescission
      or termination of this Agreement.

            	 
      
	 
      	 
      	 
      	 
      	 
      
	
              5.

            	
              Indemnity

            	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	
              5.1

            	
              In
      the event that either Party breaches this Agreement or fails to fully
      carry out any of its representations and warranties hereunder, the
      non-breaching Party may send a written notice to the breaching Party so as
      to order the breaching Party to correct the breaching acts within ten (10)
      days thereof, to take sufficient, effective and timely measures to avoid
      the damages, and to continue the performance of this
      Agreement.  If any damage occurs, the breaching Party shall
      compensate the non-breaching Party for its losses.

            
	 
      	 
      	 
      	 
      	 
      
	 
      	
              5.2

            	The
      total amount of compensation paid by breaching Party to non-breaching
      Party shall be equivalent to the total losses incurred due to breaches,
      including all interests that the
      non-breaching Party should gain in case the Agreement are
      performed.  However, such compensation
      shall not exceed the reasonable expectation of both
    Parties.

    

     

     

     

     

     

     

     

    
      
        
        

      

      
        -3-

        
          

        

      

      
        
        

      

    

     

     

     

     

     

    
      	 
      	 
      	 
      
	 
      	
              5.3

            	
              If
      both Parties are in breach of this Agreement, each Party shall bear their
      respective liabilities to the extent of their respective
      breaches.

            
	 
      	 
      	 
      
	
              6.

            	
              Effective
      Date, Performance and Term

            
	 
      	 
      	 
      
	 
      	
              6.1

            	
              This
      Agreement shall be executed and come into effect as of the date first set
      forth above.

            
	 
      	 
      	 
      
	 
      	
              6.2

            	
              This
      Agreement shall be terminated as of the date when Party A dissolves
      according to its Articles of Association or the PRC
  laws.

            
	 
      	 
      	 
      
	
              7.

            	
              Termination

            	 
      
	 
      	 
      	 
      
	 
      	
              7.1

            	
              During
      the term of this Agreement, Party B shall not early terminate this
      Agreement. Notwithstanding the above-mentioned, Party A may terminate this
      Agreement at any time with a written notice to Party B thirty (30) days in
      advance.

            
	 
      	 
      	 
      
	 
      	
              7.2

            	
              Article
      4 and 5 shall survive after the termination or expiration of this
      Agreement.

            
	 
      	 
      	 
      
	
              8.

            	
              Disputes
      Resolution

            
	 
      	 
      	 
      
	 
      	
              8.1

            	
              The
      Parties shall strive to settle any dispute arising from the interpretation
      or performance in connection with this Agreement through friendly
      consultation.  In case no settlement can be reached through
      consultation, each party may submit such matter to Hangzhou Arbitration
      Commission for arbitration in accordance with its current effective rules.
      The arbitration proceedings shall be conducted in Chinese and shall take
      place in Hangzhou.  The arbitration award shall be final and
      binding upon both Parties.  This article shall survive the
      termination or recession of this Agreement.

            
	 
      	 
      	 
      
	 
      	
              8.2

            	
              Each
      Party shall continue to perform its obligations in good faith according to
      the provisions of this Agreement except for the matters in
      dispute.

            
	 
      	 
      	 
      
	
              9.

            	
              Force
      Majeure

            	 
      
	 
      	 
      	 
      
	 
      	
              9.1

            	
              Force
      Majeure, including but not limited to, acts of governments, acts of
      nature, fire, explosion, typhoon, flood, earthquake, tide, lightning and
      war, means any event that is beyond the party’s reasonable
      control and cannot be prevented with reasonable care.  However,
      any shortage of credit, capital or finance shall not be regarded as an
      event of Force Majeure.  The affected party, who requests to
      release its obligations under this Agreement due to the Force Majeure,
      shall inform the other party, without delay, of such Force Majeure and the
      necessary approaches to perform this Agreement.

            
	 
      	 
      	 
      
	 
      	
              9.2

            	
              In
      the event that the affected party is delayed in or prevented from
      performing its obligations under this Agreement by Force Majeure, the
      affected Party may be exempted from
      the liability to the extent of the part delayed or prevented by the Force
      Majeure.  The affected party shall take appropriate measures to
      minimize or remove the effects of Force Majeure and use its best endeavors
      to resume performing the obligations delayed or prevented by the event of
      Force Majeure. After the event of Force Majeure is removed, both parties
      agree to resume performing this Agreement with their best
      efforts.

            

    

     

     

     

     

     

     

     

     

    
      
        
        

      

      
        -4-

        
          

        

      

      
        
        

      

    

     

     

     

     

     

     

    
      	 
      	 
      	 
      
	
              10.

            	
              Notices

            	 
      
	 
      	 
      	 
      
	 
      	
              Notices
      or other communications required to be given by any party pursuant to this
      Agreement shall be in written form and be delivered in person or sent by
      registered mail or postage prepaid mail or by a recognized courier service
      or by facsimile transmission or by E-mail to the address of the relevant
      party or parties set forth below:

            
	 
      	 
      	 
      
	
              Party
      A:

            	 
      	 
      
	 
      	
              Shanghai
      Information Technology (Molong) Co., Ltd. (“Molong”)

            
	 
      	
              Registered
      address: Room 1105 No. 1 Lane 127 Guotai Road, Yangpu District,
      Shanghai

            
	 
      	 
      	
              Fax:

            
	 
      	 
      	
              Tele:

            
	 
      	 
      	
              Addressee:

            
	 
      	 
      	
              E-mail:

            
	 
      	 
      	 
      
	
              Party
      B:

            	 
      	 
      
	 
      	
              Shanghai
      Mopietek Information Technology Co., Ltd (“Mopietek”)

            
	 
      	
              Registered
      address: Room 1103 No. 1 Lane 127 Guotai Road, Yangpu District,
      Shanghai

            
	 
      	 
      	
              Fax:

            
	 
      	 
      	
              Tele:

            
	 
      	 
      	
              Addressee:

            
	 
      	 
      	
              E-mail:

            
	 
      	 
      	 
      
	
              11.

            	
              Assignment

            	 
      
	 
      	 
      	 
      
	 
      	
              Party
      B shall not assign its rights or obligations under this Agreement to any
      third party without Party A’s prior written consent. Party A shall
      transfer its rights or obligations under this Agreement to any third party
      without the consent of Party B, but shall inform Party B of the above
      assignment.

            
	 
      	 
      	 
      
	
              12.

            	
              Severability

            	 
      
	 
      	 
      	 
      
	 
      	
              Any
      provision of this Agreement that is invalid or unenforceable because of
      any inconsistency with relevant law shall be ineffective or unenforceable
      within such jurisdiction where the relevant law governs, but shall not
      affect in any way the remaining provisions
  hereof.

            

    

     

     

     

     

     

     

     

     

    
      
        
        

      

      
        -5-

        
          

        

      

      
        
        

      

    

     

     

     

     

     

     

     

    
      	 
      	 
      
	
              13.

            	
              Amendment
      and Supplement

            
	 	 
	
               

            	Any
      amendment and supplement of this Agreement shall be made in a written
      form.  The amendment and supplement duly executed by both
      parties shall be part of this Agreement and shall have the same legal
      effect as this Agreement.
	 
      	 
      
	
              14.

            	
              Governing
      Law

            
	 
      	 
      
	 
      	
              The
      execution, validity, performance and interpretation of this Agreement
      shall be governed by and construed in accordance with the PRC
      laws.

            
	 
      	 
      
	
              15.

            	
              Language

            
	 
      	 
      
	 
      	
              This
      Agreement is written in two (2) originals in both Chinese and English;
      each Party holds one (1) original; if any discrepancies between the two
      languages, the Chinese version shall
prevail.

            

    

    

     

     

     

     

     

     

     

    
      
        
        

      

      
        -6-

        
          

        

      

      
        
        

      

    

     

     

     

     

    
 

    This is
the execution page of this EXCLUSIVE TECHNICAL AND CONSULTING SERVICES AGREEMENT
between Wisdom Choice (Hangzhou) Software Technology Co. Ltd. and Hangzhou
ColorComm Software Technology Co., Ltd

    
 

    
      	
              Party
      A:

            	
              Shanghai
      Information Technology (Molong) Co.,
Ltd.

            

    

     

    
 

    Authorized
Representative: _________________ (Signature)

    Fu
Qian

    

    

    

    
      	
              Party B:

            	
              Shanghai Mopietek Information
      Technology Co., Ltd

            

    

    

    

    

    Authorized
Representative: _________________ (Signature)

    Song
Zhiling

     

     

     

     

     

     

     

     

    
      
        
        

      

      
        -7-

        
          

        

      

      
        
        

      

    

     

     

     

     

    Appendix
1

    The
list of Technical and Consulting Services

    

    

    
      	
              1.

            	
              provision
      of all necessary technical operation
platform;

            

    

    
      	
              2.

            	
              provision
      of technical support and training to maintain the network
  ;

            

    

    
      	
              3.

            	
              provision
      of technology and training for website
security;

            

    

    
      	
              4.

            	
              design
      and implementation of the integrated structure of the network and the
      website, including the installation of the server system and instant
      maintenances and repairing.

            

    

    
      	
              5.

            	
              development
      and test of new products (including
software);

            

    

    
      	
              6.

            	
              marketing
      plan of new products;

            

    

    
      	
              7.

            	
              conception,
      creation, design, update and maintenance of the web
  pages;

            

    

    
      	
              8.

            	
              maintenance
      of the customer service platform;

            

    

    
      	
              9.

            	
              training
      services for the employees;

            

    

    
      	
              10.

            	
              study
      and analysis on market;

            

    

    
      	
              11.

            	
              public
      relationship service;

            

    

    
      	
              12.

            	
              [others].

            

    

    

     

     

     

     

     

     

    
      
        
        

      

      
        -8-

        
          

        

      

      
        
        

      

    

     

     

     

     

    
 

    

    Appendix
2

    Calculation
and Payment of

    the
Fee for Technical and Consulting Services

    

    

    The
service Fee hereunder shall initially be monthly calculated at the rate of 90%
of Party B’s monthly net profit, and shall be adjusted from time to time through
both Parties’ negotiation, but in no event lower than 80% of Party B’s monthly
net profit. The exact proportion above mentioned can be decided and adjusted by
Party A’s board of directors in accordance with Party B’s actual operation and
shall be calculated quarterly.  In consideration of the development of
Party B’s business in the future, both Parties agree that Party B shall keep no
less than US$ 1.5 Million cash or cash equivalence in its account. In case,
Party B fails to pay the service Fee at the above-mentioned rate at the end of
any quarter, Party A’s board of directors shall be entitled to decrease or
remove part or all of the Fee of the quarter thereof.

     

     

     

     

     

     

     

    
      
        
        

      

      
        -9-

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