Document:

Exhibit 4.38

Exhibit 4.38

Exclusive Business Cooperation Agreement

This Exclusive Business Cooperation Agreement (this “Agreement”) is made and entered
into by and between the following parties on March 21, 2009 in Beijing, the People’s Republic of
China (“China” or the “PRC”).

	 	 	Party A: Wei Mo San Yi (Tianjin) Technology Co., Ltd.

	 
	 	 	Address: A3-158, 166 West No.3 Street, Airport Logistics Processing Area, Tianjin

	 
	 	 	Party B: Tianjin Ku6 Zheng Yuan Information Technology Co., Ltd.

	 
	 	 	Address: A3-273, 166 West No.3 Street, Airport Logistics Processing Area, Tianjin

Each
of Party A and Party B shall be hereinafter referred to as a
“Party” respectively,
and as the “Parties” collectively.

Whereas,

	1.	 	Party A is a wholly-foreign-owned enterprise established in China, and has the necessary
resources to provide technical and consulting services;

	2.	 	Party B is a company with exclusively domestic capital registered in China and may engage in
the business of information technology services and advertisement operation approved by the
relevant governmental authorities in China (collectively, the “Principal Business”);

	3.	 	Party A is willing to provide Party B with technical support, consulting services and other
commercial services on exclusive basis in relation to the Principal Business during the term
of this Agreement, utilizing its advantages in technology, human resources, and information,
and Party B is willing to accept such services provided by Party A or Party A’s designee(s),
each on the terms set forth herein.

Now, therefore, through mutual discussion, the Parties have reached the following agreements:

	1.	 	Services Provided by Party A

	 	1.1	 	Party B hereby appoints Party A as Party B’s exclusive services provider to
provide Party B with complete technical support, business support and related
consulting services during the term of this Agreement, in accordance with the terms and
conditions of this Agreement, which may include all necessary services within the scope
of the Principal Business as may be determined from time to time by Party A, such as
but not limited to technical services, business consultations, equipment or property
leasing, marketing consultancy, system integration, product research and development,
and system maintenance.

 

 

 

	 	1.2	 	Party B agrees to accept all the consultations and services provided by Party
A. Party B further agrees that unless with Party A’s prior written consent, during the
term of this Agreement, Party B shall not directly or indirectly accept the same or any
similar consultations and/or services provided by any third party and shall not
establish similar corporation relationship with any third party regarding the matters
contemplated by this Agreement. Party A may appoint other parties, who may enter into
certain agreements described in Section 1.3 with Party B, to provide Party B with the
consultations and/or services under this Agreement.

	 
	 	1.3	 	Service Providing Methodology

	 	1.3.1	 	Party A and Party B agree that during the term of this
Agreement, where necessary, Party B may enter into further technical service
agreements or consulting service agreements with Party A or any other party
designated by Party A, which shall provide the specific contents, manner,
personnel, and fees for the specific technical services and consulting
services.

	 	1.3.2	 	To fulfill this Agreement, Party A and Party B agree that
during the term of this Agreement, where necessary, Party B may enter into
equipment or property leases with Party A or any other party designated by
Party A which shall permit Party B to use Party A’s relevant equipment or
property based on the needs of the business of Party B.

	 	1.3.3	 	Party B hereby grants to Party A an irrevocable and exclusive
option to purchase from Party B, at Party A’s sole discretion, any or all of
the assets of Party B, to the extent permitted under the PRC laws, at the
lowest purchase price permitted by the PRC laws. In this case, the Parties
shall enter into a separate assets transfer agreement, specifying the terms and
conditions of the transfer of the assets.

 

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	2.	 	The Calculation and Payment of the Service Fees

	 
	 	 	Both Parties agree that, in consideration of the services provided by Party A, Party B
shall pay Party A fees (the “Service Fees”) equal to 100% of the net income of Party B.
The Service Fees shall be due and payable on a monthly basis; upon the prior written
consent by Party A, the rate of Service Fees may be adjusted pursuant to the operational
needs of Party B. Within 30 days after the end of each month, Party B shall (a) deliver to
Party A the management accounts and operating statistics of Party B for such month,
including the net income of Party B during such month (the “Monthly Net Income”), and (b)
pay 100% of such Monthly Net Income to Party A (each
such payment, a “Monthly Payment”). Within ninety (90) days after the end of each fiscal
year, Party B shall (a) deliver to Party A audited financial statements of Party B for such
fiscal year, which shall be audited and certified by an independent certified public
accountant approved by Party A, and (b) pay an amount to Party A equal to the shortfall, if
any, of the aggregate net income of Party B for such fiscal year, as shown in such audited
financial statements, as compared to the aggregate amount of the Monthly Payments paid by
Party B to Party A in such fiscal year.

	3.	 	Intellectual Property Rights and Confidentiality Clauses

	 	3.1	 	Party A shall have exclusive and proprietary rights and interests in all
rights, ownership, interests and intellectual properties arising out of or created
during the performance of this Agreement, including but not limited to copyrights,
patents, patent applications, software, technical secrets, trade secrets and others.
Party B shall execute all appropriate documents, take all appropriate actions, submit
all filings and/or applications, render all appropriate assistance and otherwise
conduct whatever is necessary as deemed by Party A in its sole discretion for the
purposes of vesting any ownership, right or interest of any such intellectual property
rights in Party A, and/or perfecting the protections for any such intellectual property
rights in Party A.

	 
	 	3.2	 	The Parties acknowledge that the existence and the terms of this Agreement and
any oral or written information exchanged between the Parties in connection with the
preparation and performance this Agreement are regarded as confidential information.
Each Party shall maintain confidentiality of all such confidential information, and
without obtaining the written consent of the other Party, it shall not disclose any
relevant confidential information to any third parties, except for the information
that: (a) is or will be in the public domain (other than through the receiving Party’s
unauthorized disclosure); (b) is under the obligation to be disclosed pursuant to the
applicable laws or regulations, rules of any stock exchange, or orders of the court or
other government authorities; or (c) is required to be disclosed by any Party to its
shareholders, investors, legal counsels or financial advisors regarding the transaction
contemplated hereunder, provided that such shareholders, investors, legal counsels or
financial advisors shall be bound by the confidentiality obligations similar to those
set forth in this Section. Disclosure of any confidential information by the staff
members or agencies hired by any Party shall be deemed disclosure of such confidential
information by such Party, which Party shall be held liable for breach of this
Agreement. This Section shall survive the termination of this Agreement for any reason.

 

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	 	3.3	 	The Parties agree that this Section shall survive changes to, and rescission or
termination of, this Agreement.

	4.	 	Representations and Warranties

	 	4.1	 	Party A hereby represents and warrants as follows:

	 	4.1.1	 	Party A is a wholly owned foreign enterprise legally
registered and validly existing in accordance with the laws of China.

	 	4.1.2	 	Party A has taken all necessary corporate actions, obtained
all necessary authorization and the consent and approval from third parties and
government agencies (if any) for the execution, delivery and performance of
this Agreement. Party A’s execution, delivery and performance of this
Agreement do not violate any explicit requirements under any law or regulation
binding on Party A.

	 	4.1.3	 	This Agreement constitutes Party A’s legal, valid and binding
obligations, enforceable in accordance with its terms.

	 	4.2	 	Party B hereby represents and warrants as follows:

	 	4.2.1	 	Party B is a company legally registered and validly existing
in accordance with the laws of China and has obtained the relevant permit and
license for engaging in the Principal Business in a timely manner;

	 	4.2.2	 	Party B has taken all necessary corporate actions, obtained
all necessary authorization and the consent and approval from third parties and
government agencies (if any) for the execution, delivery and performance of
this Agreement. Party B’s execution, delivery and performance of this
Agreement do not violate any explicit requirements under any law or regulation
binding on Party A.

	 	4.2.3	 	This Agreement constitutes
Party B’s legal, valid and binding obligations, and shall be enforceable against it.

 

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	5.	 	Effectiveness and Term

	 	5.1	 	This Agreement is executed on the date first above written and shall take
effect as of such date. Unless earlier terminated in accordance with the provisions of
this Agreement or relevant agreements separately executed between the Parties, the term
of this Agreement shall be 10 years. After the execution of this Agreement, both
Parties shall review this Agreement every 3 months to determine whether to amend or
supplement the provisions in this Agreement based on the actual circumstances at that
time.

	 	5.2	 	The term of this Agreement may be extended if confirmed in writing by Party A
prior to the expiration thereof. The extended term shall be determined by Party A, and
Party B shall accept such extended term unconditionally.

	6.	 	Termination

	 	6.1	 	Unless renewed in accordance with the relevant terms of this Agreement, this
Agreement shall be terminated upon the date of expiration hereof.

	 	6.2	 	During the term of this Agreement, unless Party A commits gross negligence, or
a fraudulent act, against Party B, Party B shall not terminate this Agreement prior to
its expiration date. Nevertheless, Party A shall have the right to terminate this
Agreement upon giving 30 days’ prior written notice to Party B at any time.

	 	6.3	 	The rights and obligations of the Parties under Articles 3, 7 and 8 shall
survive the termination of this Agreement.

	7.	 	Governing Law and Resolution of Disputes

	 	7.1	 	The execution, effectiveness, construction, performance, amendment and
termination of this Agreement and the resolution of disputes hereunder shall be
governed by the laws of China.

 

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	 	7.2	 	In the event of any dispute with respect to the construction and performance of
this Agreement, the Parties shall first resolve the dispute through friendly
negotiations. In the event the Parties fail to reach an agreement on the dispute within
30 days after either Party’s request to the other Parties for resolution of the dispute
through negotiations, either Party may submit the relevant dispute to the China
International
Economic and Trade Arbitration Commission for arbitration, in accordance with its
Arbitration Rules. The arbitration shall be conducted in Beijing, and the language
used in arbitration shall be Chinese. The arbitration award shall be final and
binding on all Parties.

	 	7.3	 	Upon the occurrence of any disputes arising from the construction and
performance of this Agreement or during the pending arbitration of any dispute, except
for the matters under dispute, the Parties to this Agreement shall continue to exercise
their respective rights under this Agreement and perform their respective obligations
under this Agreement.

	8.	 	Indemnification

	 	 	Party B shall indemnify and hold harmless Party A from any losses, injuries, obligations or
expenses caused by any lawsuit, claims or other demands against Party A arising from or
caused by the consultations and services provided by Party A to Party B pursuant this
Agreement, except where such losses, injuries, obligations or expenses arise from the gross
negligence or willful misconduct of Party A.

	9.	 	Notices

	 	9.1	 	All notices and other communications required or permitted to be given pursuant
to this Agreement shall be delivered personally or sent by registered mail, postage
prepaid, by a commercial courier service or by facsimile transmission to the address of
such Party set forth below. A confirmation copy of each notice shall also be sent by
email. The dates on which notices shall be deemed to have been effectively given shall
be determined as follows:

	 	9.1.1	 	Notices given by personal delivery, by courier service or by
registered mail, postage prepaid, shall be deemed effectively given on the date
of delivery or refusal at the address specified for notices.

 

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	 	9.1.2	 	Notices given by facsimile transmission shall be deemed
effectively given on the date of successful transmission (as evidenced by an
automatically generated confirmation of transmission).

	 	9.2	 	For the purpose of notices, the addresses of the Parties are as follows:

	 	Party A:	 	Wei Mo San Yi (Tianjin) Technology Co., Ltd.

	 	Address:	 	 A3-158, 166 West No.3 Street, Airport Logistics Processing Area,
Tianjin

	 	Attn:	 	 Shanyou Li

	 	Phone:	 	 010-62361818

	 	Facsimile:	 	 010-62368882

	 
	 	Party B:	 	 Tianjin Ku6 Zheng Yuan
Information Technology Co., Ltd.

	 	Address:	 	 A3-273, 166 West No.3 Street, Airport Logistics Processing
Area, Tianjin

	 	Attn:	 	 Shanyou Li

	 	Phone:	 	 010-62361818

	 	Facsimile:	 	 010-62368882

	 	9.3	 	Any Party may at any time change its address for notices by a notice delivered to
the other Party in accordance with the terms hereof.

	10.	 	Assignment

	 	10.1	 	Without Party A’s prior written consent, Party B shall not assign its rights
and obligations under this Agreement to any third party.

	 
	 	10.2	 	Party B agrees that Party A may assign its obligations and rights under this
Agreement to any third party upon a prior written notice to Party B but without the
consent of Party B.

 

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	11.	 	Severability

	 
	 	 	In the event that one or several of the provisions of this Agreement are found to be
invalid, illegal or unenforceable in any aspect in accordance with any laws or regulations,
the validity, legality or enforceability of the remaining provisions of this Agreement
shall not be affected or compromised in any aspect. The Parties shall strive in good faith
to replace such invalid, illegal or unenforceable provisions with effective provisions that
accomplish to the greatest extent permitted by law and the intentions of the Parties, and
the economic effect of such effective provisions shall be as close as possible to the
economic effect of those invalid, illegal or unenforceable provisions.

	12.	 	Amendments and Supplements

	 
	 	 	Any amendments and supplements to this Agreement shall be in writing. The amendment
agreements and supplementary agreements that have been signed by the Parties and that relate
to this Agreement shall be an integral part of this Agreement and shall have the same legal
validity as this Agreement.

	13.	 	Language and Counterparts

	 
	 	 	This Agreement is written in both Chinese and English language in two copies, each Party
having one copy with equal legal validity; in case there is any conflict between the
Chinese version and the English version, the Chinese version shall prevail.

 

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IN WITNESS WHEREOF, the Parties have caused their authorized representatives to execute this
Exclusive Business Cooperation Agreement as of the date first above written.

	 	 	 

	Party A: Wei Mo San Yi (Tianjin) Technology Co., Ltd.	 
	 
	 	 
	By: 
	 	 
	 

	Name:  Shanyou Li	 
	 
	Title: Legal Representative 	 
	 
	 	 
	Party B: Tianjin Ku6 Zheng Yuan Information Technology Co., Ltd.	 
	 
	 	 
	By: 
	 	 
	 
	Name: Shanyou Li 	 
	 
	Title: Legal Representative 	 

 

9Exhibit 4.39

Exhibit 4.39

Equity Interest Pledge Agreement

This Equity Interest Pledge Agreement (this “Agreement”) has been executed by and among
the following parties on March 21, 2009 in Beijing, the People’s Republic of China (“China” or the
“PRC”):

	Party A:	 	 Wei Mo San Yi (Tianjin) Technology Co., Ltd. (hereinafter the “Pledgee”)

	 
	Address:	 	 A3-158, 166 West No.3 Street, Airport Logistics Processing Area, Tianjin

	 
	Party B:	 	 Ku6 (Beijing) Information Technology Co., Ltd. (hereinafter the “Pledgee”)

	 
	Address:	 	 Room A401, Changcheng Computer Building, Jia 38 Xueyuan Road, Haidian District, Beijing

	 
	Party C:	 	 Tianjin Ku6 Zheng Yuan Information Technology Co., Ltd.

	Address:	 	 A3-273, 166 West No.3 Street, Airport Logistics Processing Area, Tianjin

In this Agreement, each of Pledgee, Pledgor and Party C shall be referred to as a “Party”
respectively, and they shall be collectively referred to as the “Parties”.

Whereas:

	1.	 	Pledgor is a limited liability company organized and existing under the laws of the PRC, and
holds 100%of the equity interest in Party C. Party C is a limited liability company registered
in Tianjin, China, engaging in the business of information technology service and
advertisement operation as approved by the relevant governmental authorities in China. Party C
acknowledges the respective rights and obligations of Pledgor and Pledgee under this
Agreement, and is willing to provide any necessary assistance in registering the Pledge;

	2.	 	Pledgee is a wholly foreign-owned enterprise registered in China. Pledgee and Party C
partially owned by Pledgor have executed an Exclusive Business Cooperation Agreement on March
21, 2009,

	3.	 	To ensure that Party C fully performs its obligations under the Exclusive Business
Cooperation Agreement and pay the consulting and service fees thereunder to the Pledgee when
the same becomes due, Pledgor hereby pledges to the Pledgee all of the equity interest he
holds in Party C as security for payment of the consulting and service fees by Party C under
the Business Cooperation Agreement.

 

 

 

	 	 	To perform the provisions of the Business Cooperation Agreement, the Parties have mutually
agreed to execute this Agreement upon the following terms.

	1.	 	Definitions

	 
	 	 	Unless otherwise provided herein, the terms below shall have the following meanings:

	 	1.1	 	Pledge: shall refer to the security interest granted by Pledgor to Pledgee pursuant
to Article 2 of this Agreement, i.e., the right of Pledgee to be compensated on a
preferential basis with the conversion, auction or sales price of the
Equity Interest.o

	 	1.2	 	Equity Interest: shall refer to all of the equity interest lawfully now held and
hereafter acquired by Pledgor in Party C.

	 	1.3	 	Term of Pledge: shall refer to the term set forth in Section 3.2 of this Agreement.

	 	1.4	 	Business Cooperation Agreement: shall refer to the Exclusive Business Cooperation
Agreement executed by and between Party C and Pledgee on March 21, 2009.

	 	1.5	 	Event of Default: shall refer to any of the circumstances set forth in Article 7 of
this Agreement.

	 	1.6	 	Notice of Default: shall refer to the notice issued by Pledgee in accordance with
this Agreement declaring an Event of Default.

	2.	 	The Pledge

	 
	 	 	As collateral security for the timely and complete payment and performance when due (whether
at stated maturity, by acceleration or otherwise) of any or all of the payments due by Party
C, including without limitation the consulting and services fees payable to the Pledgee under
the Business Cooperation Agreement, Pledgor hereby pledges to Pledgee a first security
interest in all of Pledgor’s right, title and interest, whether now owned or hereafter
acquired by Pledgor, in the Equity Interest of Party C.

 

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	3.	 	Term of Pledge

	 	3.1	 	The Pledge shall become effective on such date when the pledge of the Equity
Interest contemplated herein has been registered with relevant administration for
industry and commerce (the “AIC”). The Pledge shall be continuously valid until all
payments due under the Business Cooperation Agreement have been fulfilled by Party C.
Pledgor and Party C shall (1) register the Pledge in the shareholders’ register of Party
C within 3 business days following the execution of this Agreement, and (2) submit an
application to the AIC for the registration of the Pledge of the Equity Interest
contemplated herein within 10 business days following the execution of this Agreement.
The parties covenant that for the purpose of registration of the Pledge, the parties
hereto and all other shareholders of Party C shall submit to the AIC this Agreement or an
equity interest pledge contract in the form required by the AIC at the location of Party
C which shall truly reflect the information of the Pledge hereunder (the “AIC Pledge
Contract”). For matters not specified in the AIC Pledge Contract, the parties shall be
bound by the provisions of this Agreement. Pledgor and Party C shall submit all
necessary documents and complete all necessary procedures, as required by the PRC laws
and regulations and the relevant AIC, to ensure that the Pledge of the Equity Interest
shall be registered with the AIC as soon as possible after filing.

	 	3.2	 	During the Term of Pledge, in the event Party C fails to pay the exclusive
consulting or service fees in accordance with the Business Cooperation Agreement, Pledgee
shall have the right, but not the obligation, to dispose of the Pledge in accordance with
the provisions of this Agreement.

	4.	 	Custody of Records for Equity Interest subject to Pledge

	 	4.1	 	During the Term of Pledge set forth in this Agreement, Pledgor shall deliver to
Pledgee’s custody the capital contribution certificate for the Equity Interest and the
shareholders’ register containing the Pledge within one week from the execution of this
Agreement, and deliver to Pledgee’s custody the evidence of the registration of the
pledge within one week from receiving the evidence. Pledgee shall have custody of such
items during the entire Term of Pledge set forth in this Agreement.

	 	4.2	 	Pledgee shall have the right to collect dividends generated by the Equity Interest
during the Term of Pledge.

	5.	 	Representations and Warranties of Pledgor

	 	5.1	 	Pledgor is the sole legal and beneficial owner of the Equity Interest.

	 	5.2	 	Pledgee shall have the right to dispose of and transfer the Equity Interest in
accordance with the provisions set forth in this Agreement.

	 	5.3	 	Except for the Pledge, Pledgor has not placed any security interest or other
encumbrance on the Equity Interest.

 

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	6.	 	Covenants and Further Agreements of Pledgor

	 	6.1	 	Pledgor hereby covenants to the Pledgee, that during the term of this Agreement,
Pledgor shall:

	 	6.1.1	 	not transfer the Equity Interest, place or permit the existence of any
security interest or other encumbrance on the Equity Interest, without the prior
written consent of Pledgee, except for the performance of the Exclusive Option
Agreement executed by Pledgor, Pledgee and Party C on March 21, 2009;

	 	6.1.2	 	comply with the provisions of all laws and regulations applicable to
the pledge of rights, and within 5 days of receipt of any notice, order or
recommendation issued or prepared by relevant competent authorities regarding the
Pledge, shall present the aforementioned notice, order or recommendation to
Pledgee, and shall comply with the aforementioned notice, order or recommendation
or submit objections and representations with respect to the aforementioned matters
upon Pledgee’s reasonable request or upon consent of Pledgee;

	 	6.1.3	 	promptly notify Pledgee of any event or notice received by Pledgor
that may have an impact on Pledgee’s rights to the Equity Interest or any portion
thereof, as well as any event or notice received by Pledgor that may have an impact
on any guarantees and other obligations of Pledgor arising out of this Agreement.

	 	6.2	 	Pledgor agrees that the rights acquired by Pledgee in accordance with this
Agreement with respect to the Pledge shall not be interrupted or harmed by Pledgor or any
heirs or representatives of Pledgor or any other persons through any legal proceedings.

 

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	 	6.3	 	To protect or perfect the security interest granted by this Agreement for payment
of the consulting and service fees under the Business Cooperation Agreement, Pledgor
hereby undertakes to execute in good faith and to cause other parties who have an
interest in the Pledge to execute all certificates, agreements, deeds and/or covenants
required by Pledgee. Pledgor also undertakes to perform and to cause other parties who
have an interest in the Pledge to perform actions required by Pledgee, to facilitate the
exercise by Pledgee of its rights and authority granted thereto by this Agreement, and to
enter into all relevant documents regarding ownership of Equity Interest with Pledgee or
designee(s) of Pledgee (natural persons/legal persons). Pledgor undertakes to provide
Pledgee within a reasonable time with all notices, orders and decisions regarding the
Pledge that are required by Pledgee.

	 	6.4	 	Pledgor hereby undertakes to comply with and perform all guarantees, promises,
agreements, representations and conditions under this Agreement. In the event of failure
or partial performance of its guarantees, promises, agreements, representations and
conditions, Pledgor shall indemnify Pledgee for all losses resulting therefrom.

	7.	 	Event of Breach

	 	7.1	 	The following circumstances shall be deemed Event of Default:

	 	7.1.1	 	Party C fails to fully and timely fulfill any liabilities under the
Business Cooperation Agreement, including without limitation failure to pay in full
any of the consulting and service fees payable under the Business Cooperation
Agreement or breaches any other obligations of Party C thereunder;

	 	7.1.2	 	Any representation or warranty by Pledgor in Article 5 of this
Agreement contains material misrepresentations or errors, and/or Pledgor violates
any of the warranties in Article 5 of this Agreement;

	 	7.1.3	 	Pledgor or Party C has committed a material breach of any provisions
of this Agreement;

	 	7.1.4	 	Except as expressly stipulated in Section 6.1.1, Pledgor transfers or
purports to transfer or abandons the Equity Interest pledged or assigns the Equity
Interest pledged without the written consent of Pledgee; and

	 	7.1.5	 	The successor or custodian of Party C is capable of only partially
perform or refuses to perform the payment obligations under the Business
Cooperation Agreement.

	 	7.1.6	 	Any of Pledgor’s own loans, guarantees, indemnifications, promises or
other debt liabilities to any third party or parties (1) become subject to a demand
of early repayment or performance due to default on the part of the Pledgor; or (2)
become due but are not capable of being repaid or performed in a timely
manner.

 

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	 	7.1.7	 	Adverse changes in properties owned by the Pledgor, which lead the
Pledgee to believe that the Pledgor’s ability to perform its obligations under this
Agreement has been substantially affected.

	 	7.2	 	Upon notice or discovery of the occurrence of any circumstances or event that may
lead to the aforementioned circumstances described in Section 7.1, Pledgor shall
immediately notify Pledgee in writing accordingly.

	 	7.3	 	Unless an Event of Default set forth in this Section 7.1 has been successfully
resolved to Pledgee’s satisfaction within twenty (20) days after the Pledgee delivers a
notice to the Pledgor requesting ratification of such Event of Default, Pledgee may issue
a Notice of Default to Pledgor in writing at any time thereafter, demanding the Pledgor
to immediately dispose of the Pledge in accordance with the provisions of Article 8 of
this Agreement.

	8.	 	Exercise of Pledge

	 	8.1	 	Prior to the full payment of the consulting and service fees described in the
Business Cooperation Agreement, without the Pledgee’s written consent, Pledgor shall not
assign the Pledge or the Equity Interest in Party C.

	 	8.2	 	Pledgee may issue a Notice of Default to Pledgor when exercising the Pledge.

	 	8.3	 	Subject to the provisions of Section 7.3, Pledgee may exercise the right to enforce
the Pledge concurrently with the issuance of the Notice of Default in accordance with
Section 8.2 or at any time after the issuance of the Notice of Default. Once Pledgee
elects to enforce the Pledge, Pledgor shall cease to be entitled to any rights or
interests associated with the Equity Interest.

	 	8.4	 	In the event of default, Pledgee is entitled to dispose of the Equity Interest
pledged, to the extent permitted and in accordance with applicable laws, without
obligation to account to Pledgor for proceeds of disposition and Pledgor hereby waives
any rights it may have to demand any such accounting from Pledgee. Likewise, in such
circumstance Pledgor shall have no obligation to Pledgee for any deficiency remaining
after such disposition of the Equity Interest pledged.

	 	8.5	 	When Pledgee disposes of the Pledge in accordance with this Agreement, Pledgor and
Party C shall provide necessary assistance to enable Pledgee to enforce the Pledge in
accordance with this Agreement.

 

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	9.	 	Assignment

	 	9.1	 	Without Pledgee’s prior written consent, Pledgor shall not have the right to assign
or delegate its rights and obligations under this Agreement.

	 	9.2	 	This Agreement shall be binding on Pledgor and its successors and permitted
assigns, and shall be valid with respect to Pledgee and each of its successors and
assigns.

	 	9.3	 	At any time, Pledgee may assign any and all of its rights and obligations under the
Business Cooperation Agreement to its designee(s) (natural/legal persons), in which case
the assigns shall have the rights and obligations of Pledgee under this Agreement, as if
it were the original party to this Agreement. When the Pledgee assigns the rights and
obligations under the Business Cooperation Agreement, upon Pledgee’s request, Pledgor
shall execute relevant agreements or other documents relating to such assignment.

	 	9.4	 	In the event of a change in Pledgee due to an assignment, Pledgor shall, at the
request of Pledgee, execute a new pledge agreement with the new pledgee on the same terms
and conditions as this Agreement, and duly register the same on the Shareholders’
register of Party C and duly register with the relevant AIC.

	 	9.5	 	Pledgor shall strictly abide by the provisions of this Agreement and other
contracts jointly or separately executed by the Parties hereto or any of them, including
the Exclusive Option Agreement and the Power of Attorney granted to Pledgee, perform the
obligations hereunder and thereunder, and refrain from any action/omission that may
affect the effectiveness and enforceability thereof. Any remaining rights of Pledgor with
respect to the Equity Interest pledged hereunder shall not be exercised by Pledgor except
in accordance with the written instructions of Pledgee.

	10.	 	Termination

	 
	 	 	Upon the full payment of the consulting and service fees under the Business Cooperation
Agreement and upon termination of Party C’s obligations under the Business Cooperation
Agreement, this Agreement shall be terminated, and Pledgee shall then cancel or terminate this
Agreement as soon as reasonably practicable.

	 
	11.	 	Handling Fees and Other Expenses

	 
	 	 	All fees and out of pocket expenses relating to this Agreement, including but not limited to
legal costs, costs of production, stamp tax and any other taxes and fees, shall be borne by
Party C. If the Pledgee is obliged to pay certain tax according to law, the Pledgor shall
cause Party C to compensate the Pledgee in full the tax thus paid by the Pledgee within ten
(10) working days.

 

7

 

	12.	 	Confidentiality

	 
	 	 	The Parties acknowledge that the existence and the terms of this Agreement and any oral or
written information exchanged between the Parties in connection with the preparation and
performance this Agreement are regarded as confidential information. Each Party shall maintain
confidentiality of all such confidential information, and without obtaining the written
consent of the other Party, it shall not disclose any relevant confidential information to any
third parties, except for the information that: (a) is or will be in the public domain (other
than through the receiving Party’s unauthorized disclosure); (b) is under the obligation to be
disclosed pursuant to the applicable laws or regulations, rules of any stock exchange, or
orders of the court or other government authorities; or (c) is required to be disclosed by any
Party to its shareholders, investors, legal counsels or financial advisors regarding the
transaction contemplated hereunder, provided that such shareholders, investors, legal counsels
or financial advisors shall be bound by the confidentiality obligations similar to those set
forth in this Section. Disclosure of any confidential information by the staff members or
agencies hired by any Party shall be deemed disclosure of such confidential information by
such Party, which Party shall be held liable for breach of this Agreement. This Section shall
survive the termination of this Agreement for any reason.

	 
	13.	 	Governing Law and Resolution of Disputes

	 	13.1	 	The execution, effectiveness, construction, performance, amendment and termination
of this Agreement and the resolution of disputes hereunder shall be governed by the laws
of China.

	 	13.2	 	In the event of any dispute with respect to the construction and performance of
this Agreement, the Parties shall first resolve the dispute through friendly
negotiations. In the event the Parties fail to reach an agreement on the dispute within
30 days after either Party’s request to the other Parties for resolution of the dispute
through negotiations, either Party may submit the relevant dispute to the China
International Economic and Trade Arbitration Commission for arbitration, in accordance
with its Arbitration Rules. The arbitration shall be conducted in Beijing, and the
language used in arbitration shall be Chinese. The arbitration award shall be final and
binding on all Parties.

	 	13.3	 	Upon the occurrence of any disputes arising from the construction and performance of
this Agreement or during the pending arbitration of any dispute, except for the matters
under dispute, the Parties to this Agreement shall continue to exercise their respective
rights under this Agreement and perform their respective obligations under this
Agreement.

 

8

 

	14.	 	Notices

	 	14.1	 	All notices and other communications required or permitted to be given pursuant to
this Agreement shall be delivered personally or sent by registered mail, postage prepaid,
by a commercial courier service or by facsimile transmission to the address of such party
set forth below. A confirmation copy of each notice shall also be sent by E-mail. The
dates on which notices shall be deemed to have been effectively given shall be determined
as follows:

	 	14.1.1	 	Notices given by personal delivery, by courier service or by registered mail,
postage prepaid, shall be deemed effectively given on the date of delivery or
refusal at the address specified for notices.

	 	14.1.2	 	Notices given by facsimile transmission shall be deemed effectively given on the
date of successful transmission (as evidenced by an automatically generated
confirmation of transmission).

	 	14.2	 	For the purpose of notices, the addresses of the Parties are as follows:

	 	Party A:	 	 Wei Mo San Yi (Tianjin) Technology Co., Ltd.
	 	Address:	 	 A3-158, 166 West No.3 Street, Airport Logistics Processing Area, Tianjin

	 	Attn:	 	 Shanyou Li

	 	Phone:	 	010-62361818

	 	Facsimile:	 	010-62368882

	 
	 	Party B:	 	Ku6 (Beijing) Information Technology Co., Ltd.
	 	Address:	 	 Room A401, Changcheng Computer Building, Jia 38 Xueyuan Road, Haidian
District, Beijing

	 	Attn:	 	 Shanyou Li

	 	Phone:	 	 010-62361818

	 	Facsimile:	 	 010-62368882

	 
	 	Party C:	 	 Tianjin Ku6 Zheng Yuan Information Technology Co., Ltd.
	 	Address: 	 	A3-273, 166 West No.3 Street, Airport Logistics Processing Area, Tianjin

	 	Attn:	 	 Shanyou Li

	 	Phone:	 	 010-62361818

	 	Facsimile:	 	 010-62368882

 

9

 

	 	14.3	 	Any Party may at any time change its address for notices by a notice delivered to
the other Parties in accordance with the terms hereof.

	15.	 	Severability

	 
	 	 	In the event that one or several of the provisions of this Contract are found to be
invalid, illegal or unenforceable in any aspect in accordance with any laws or regulations,
the validity, legality or enforceability of the remaining provisions of this Contract shall
not be affected or compromised in any respect. The Parties shall strive in good faith to
replace such invalid, illegal or unenforceable provisions with effective provisions that
accomplish to the greatest extent permitted by law and the intentions of the Parties, and the
economic effect of such effective provisions shall be as close as possible to the economic
effect of those invalid, illegal or unenforceable provisions.

	 
	16.	 	Attachments

	 
	 	 	The attachments set forth herein shall be an integral part of this Agreement.

	 
	17.	 	Effectiveness

	 	17.1	 	Any amendments, changes and supplements to this Agreement shall be in writing and
shall become effective upon completion of the governmental filing procedures (if
applicable) after the affixation of the signatures or seals of the Parties.

	 	17.2	 	This Agreement is written in Chinese and English in three copies. Pledgor, Pledgee
and Party C shall hold one copy respectively. Each copy of this Agreement shall have
equal validity. In case there is any conflict between the Chinese version and the
English version, the Chinese version shall prevail.

 

10

 

IN WITNESS WHEREOF, the Parties have caused their authorized representatives to execute
this Equity Interest Pledge Agreement as of the date first above written.

	 	 	 	 	 

	Party A: Wei Mo San Yi (Tianjin) Technology Co., Ltd.	 	 
	 
	 	 	 	 
	By:
	 	 	 	 
	 

	 	 

Name: Shanyou Li
	 	 
	 

	 	Title: Legal Representative	 	 
	 
	 	 	 	 
	Party B: Ku6 (Beijing) Information Technology Co., Ltd.	 	 
	 
	 	 	 	 
	By:
	 	 	 	 
	 

	 	 	 	 
	 

	 	Name: Shanyou Li	 	 
	 

	 	Title: Legal Representative	 	 
	 
	 	 	 	 
	Party C: Tianjin Ku6 Zheng Yuan Information Technology Co., Ltd.	 	 
	 
	 	 	 	 
	By:
	 	 	 	 
	 

	 	 	 	 
	 

	 	Name: Shanyou Li	 	 
	 

	 	Title: Legal Representative	 	 

 

11

 

Attachments:

	1.	 	Shareholders’ Register of Tianjin Ku6 Zheng Yuan Information Technology Co., Ltd.;

	2.	 	The Capital Contribution Certificate for the Formation of Tianjin Ku6 Zheng Yuan Information
Technology Co., Ltd.;

	3.	 	Exclusive Business Cooperation Agreement

 

12

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