Document:

Master Framework Agreement

 Exhibit 4(a).17 
 MASTER FRAMEWORK AGREEMENT 
 By and Among 
 Bonarich Enterprises Ltd 
 CDC Corporation 
 and 
 CDC Games Holdings Limited 
  

 Table of Contents 
  

							
	 	 	 	  	 	  	Page
	Section 1.	 		  	Definitions and Principles of Construction	  	1
		 	1.01	  	Defined Terms	  	1
		 	1.02	  	Principles of Construction	  	7
	Section 2.	 		  	 Transfer of the Equity Interest, the Related Entity Equity Interest, the
 Assignment of Remaining Optic Debt, and Consideration
	  	7
		 	2.01A	  	Transfer of the Equity Interest	  	7
		 	2.01B	  	Transfer of the Related Entity Equity Interest	  	8
		 	2.01C	  	Assignment of Remaining Optic Debt	  	8
		 	2.02	  	Consideration	  	8
		 	2.03A	  	The WOFE Closing	  	9
		 	2.03B	  	The Optic Closing	  	10
		 	2.03C	  	Post-Closing	  	12
	Section 3.	 		  	Representations and Warranties of the Seller	  	12
		 	3.01	  	Authority	  	12
		 	3.02	  	Organization of the Company	  	12
		 	3.03	  	Total Equity	  	13
		 	3.04	  	Related Entity	  	13
		 	3.05	  	No Conflicts	  	14
		 	3.06	  	Governmental Approvals and Filings	  	15
		 	3.07	  	Legal Proceedings	  	15
		 	3.08	  	Compliance with Laws and Orders	  	15
		 	3.09	  	[Intentionally Deleted]	  	15
		 	3.10	  	No Bankruptcy or Insolvency	  	15
		 	3.11	  	Financial Representations	  	16
		 	3.12	  	No Undisclosed Indebtedness	  	16
		 	3.13	  	Taxes	  	16
		 	3.14	  	Employment and Benefits	  	18
		 	3.15	  	Real Property and Business Premises	  	19
		 	3.16	  	Tangible Personal Property and Plant & Equipment	  	19
		 	3.17	  	Intellectual Property	  	20
		 	3.18	  	Contracts	  	21
		 	3.19	  	Licenses	  	22
		 	3.20	  	Insurance	  	22
		 	3.21	  	Disclosure and Information	  	22
		 	3.22	  	Absence of Changes	  	23
		 	3.23.	  	Powers of Attorney	  	24
		 	3.24.	  	[Intentionally Deleted.]	  	24
		 	3.25	  	[Intentionally Deleted.]	  	24
		 	3.26	  	Related Party Transactions	  	24
	Section 4.	 		  	Representations and Warranties of the Purchaser	  	24
		 	4.01	  	Organization of the Purchaser	  	24
		 	4.02	  	No Conflicts	  	24
		 	4.03	  	Litigation	  	25
		 	4.04	  	Authority	  	25
	Section 5.	 		  	Covenants of the Seller	  	25
		 	5.02	  	Fulfillment of Conditions	  	26
		 	5.03	  	Notice and Cure	  	26
		 	5.04	  	Conduct of Business in Ordinary Course	  	26
		 	5.05	  	Indebtedness	  	27
		 	5.06	  	Regulatory and Other Approvals	  	27

							
	 	 	5.07	  	Insurance	  	27
		 	5.08	  	No Solicitation	  	28
		 	5.09	  	Employee Matters	  	28
		 	5.10	  	[Intentionally Deleted.]	  	29
		 	5.11	  	[Intentionally Deleted.]	  	29
		 	5.12	  	[Intentionally Deleted.]	  	29
		 	5.13	  	Dividends	  	29
		 	5.14	  	HABBO	  	29
		 	5.15	  	[Intentionally Deleted.]	  	29
	Section 6.	 		  	Covenants of the Purchaser	  	29
		 	6.01	  	Notice and Cure	  	29
		 	6.02	  	Fulfillment of Conditions	  	30
		 	6.03	  	Regulatory and her Approvals	  	30
		 	6.04	  	Guarantee	  	30
		 	6A.	  	Covenants of Purchaser and Seller	  	31
		 	6A.01	  	Financial Statements	  	31
		 	6A.02	  	Assignment of Licenses	  	31
		 	6A.03	  	Retention of Key Employees	  	31
	Section 7.	 		  	Conditions to Obligations of the Purchaser	  	31
		 	7.01	  	Representations and Warranties	  	32
		 	7.02	  	Performance	  	32
		 	7.03	  	Renewal of Licence	  	32
		 	7.04	  	[Intentionally Deleted.]	  	32
		 	7.05	  	[Intentionally Deleted.]	  	32
		 	7.06	  	Legal Action	  	32
		 	7.07	  	No Material Adverse Change	  	32
		 	7.08	  	Investment Certifcates	  	32
		 	7.09	  	[Intentionally Deleted.]	  	33
		 	7.10	  	Closing Documents	  	33
		 	7.11	  	[Intentionally Deleted.]	  	33
		 	7.12	  	[Intentionally Deleted.]	  	33
		 	7.13	  	[Intentionally Deleted.]	  	33
		 	7.14	  	Financial Statements	  	33
		 	7.15	  	Intra-company Debt	  	33
	Section 8.	 		  	Conditions to Obligations of the Seller and the Company	  	33
		 	8.01	  	Representations and Warranties	  	33
		 	8.02	  	Performance	  	33
		 	8.03	  	Consents and Approvals	  	33
		 	8.04	  	Approval of the Purchaser’s Board of Directors or Delegated Subcommittee	  	34
		 	8.05	  	[Intentionally Deleted.]	  	34
	Section 9.	 		  	Representations, Warranties and Indemnities	  	34
	Section 10.	 		  	[Intentionally Deleted.]	  	35
	Section 11.	 		  	Termination	  	35
		 	11.01	  	Termination	  	35
		 	11.02	  	Effect of Termination	  	35
	Section 12.	 	Miscellaneous	  	36
		 	12.01	  	Notices	  	36
		 	12.02	  	Expenses	  	37
		 	12.03	  	[Intentionally Deleted]	  	37
		 	12.04	  	Waiver	  	37
		 	12.05	  	Amendment	  	37
		 	12.06	  	No Third Party Beneficiary	  	37
		 	12.07	  	Assignment; Binding Effect	  	37
		 	12.08	  	Invalid Provisions	  	38
		 	12.08A	  	Set-off	  	38

							
	 	 	12.09	  	Governing Law	  	38
		 	12.10	  	Arbitration	  	39
		 	12.11	  	Counterparts	  	39
		 	12.12	  	Confidentiality	  	39
		 	12.13	  	Exercise of Rights	  	40
		 	12.14	  	Rule of Construction	  	40
		 	12.15	  	Further Assurances	  	40

  

 ii 

 This MASTER FRAMEWORK AGREEMENT, dated as of June 29, 2007, is made by and among CDC Games Holdings Limited, a
company organized and existing under the laws of the British Virgin Islands (the “Purchaser”); Bonarich Enterprises Ltd, a company organized and existing under the laws of the British Virgin Islands (the “Seller”);
and CDC Corporation, all of whom may be collectively referred to herein as the “Parties” or individually as a “Party”. 
 RECITALS: 
  

	A.	The Company is a wholly-owned foreign enterprise established under the laws of the PRC on March 15, 2004 with a registered capital of USD1,210,000 as at the date of this
Agreement and principal place of business at 1/F, Subway Building, No.56 Jianzhong Road, Tianhe Industrial Park, Tianhe District, Guangzhou. As at the date hereof, the entire registered capital of the Company is owned by the Seller.

  

	B.	The Related Entity is a company with limited liability established under the laws of the PRC on March 23, 1999 with a registered capital of RMB30,000,000 as at the date of this
Agreement and principal place of business at No.58, Jianzhong Road, High and New Technology Industrial Park, Zhongshang Avenue West, Guangzhou. As at the date hereof, the entire registered capital of the Related Entity is owned by the individuals
whose identities are set out in Schedule y to this Agreement. 

  

	C.	The parties agreed that of the total debts in the aggregate amount of B193,983,973 owed by the Related Entity to the Creditor as at the date hereof, the Purchaser will procure the
Related Entity to repay RMB60,000,000 thereof to the Creditor after Optic Closing. 

  

	D.	The Seller has agreed to sell and the Purchaser has agreed to purchase the Equity Interest, the Related Entity Equity Interest and the Remaining Optic Debt upon the terms set out in
this Agreement, the Equity Transfer Agreement (the form of which is set out in Schedule x to this Agreement), the Related Entity Equity Transfer Agreement (the form of which is set out in Schedule y to this Agreement) and the Assignment of Remaining
Optic Debt (the form of which is set out in Schedule z to this Agreement). 

  

	E.	The entire share capital of the Purchaser is owned by CDC as at the date herein. CDC has agreed to guarantee the obligations of the Purchaser on terms set out in this Agreement.

 NOW, THEREFORE, in consideration of the mutual covenants and agreements set forth herein and for other good and valuable consideration, the
receipt of which is hereby acknowledged, the Parties agree as follows: 
  

	Section 1.	Definitions and Principles of Construction 

  

	1.01	Defined Terms. 

 As used in this Agreement, and
unless the context requires a different meaning, the following terms have the meanings indicated: 
 “$” or “US$”
shall mean the U.S. dollar, the legal currency of the U.S. 
 “2005 Financial Statements” shall mean the financial statements
of the Company and the Related Entity for the year ended December 31, 2005 prepared in accordance with the generally accepted accounting principles of Hong Kong audited by KPMG. 
 “2006 Financial Statements” shall mean the financial statements of the Company and the Related Entity for the year ended
December 31, 2006 prepared in accordance with the generally accepted accounting principles of Hong Kong audited by KPMG 
  

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 “Affiliate” shall mean any Person that directly, or indirectly through one or more
intermediaries, controls or is controlled by or is under common control with the Person specified. For purposes of this definition, control of a Person means the power, direct or indirect, to direct or cause the direction of the management and
policies of such Person whether by contract or otherwise. 
 “Agreement” shall mean this Master Framework Agreement, the
schedules hereto, and Disclosure Schedule delivered in accordance herewith, as the same may be amended, supplemented or modified from time to time. 
 “Assets” shall mean all assets and properties of the Company and the Related Entity of every kind, nature, character and description (whether real, personal or mixed, whether tangible or intangible, whether absolute,
accrued, contingent, fixed or otherwise and wherever situated), including the goodwill related thereto, operated, owned or leased by such Person, including without limitation cash, cash equivalents, investment assets, accounts and notes receivable,
chattel paper, documents, instruments, general intangibles, real estate, equipment, inventory, goods, Intellectual Property, the IP Assets, the Material Contracts, the Property Leases and the Equipment Leases. 
 “Assignment of Remaining Optic Debt” shall mean the deed of assignment of the Remaining Optic Debt as set out in Schedule z to this
Agreement. 
 “Associate” means, with respect to any Person, any corporation or other business organization of which such
Person is an officer or partner or is the beneficial owner, directly or indirectly, of ten percent (10%) or more of any class of equity securities, any trust or estate in which such Person has a substantial beneficial interest or as to which
such Person serves as a trustee or in a similar capacity and any relative or spouse of such Person, or any relative of such spouse, who has the same home as such Person. 
 “Benefit Plan” means any plan, scheme or arrangement established by the Company or any Related Entity, or any predecessor or Affiliate of any of the foregoing, existing at the Effective Date or prior
thereto, to which the Company or any Related Entity, as the case may be, contributes or has contributed, or under which any employee, former employee or director of the Company or any Related Entity or any beneficiary thereof is covered, is eligible
for coverage or has benefit rights whether provided by the Company, or any Related Entity or pursuant to any governmental program, or otherwise. 
 “Board” shall mean the board of directors of the Company. 
 “Business” shall mean the Related
Entity’s business and the Company’s business as a whole including but not limited to online games, wireless, research and development, and studio business in the PRC. 
 “Business Combination” means with respect to any Person any merger, consolidation or combination to which such Person is a party, any
sale, dividend, split or other disposition of capital stock or other equity interests of such Person, or any sale, dividend or other disposition of all or substantially all of the Assets of such Person. 
 “Business Day” shall mean a day other than Saturday, Sunday or any day on which banks located in Hong Kong and PRC are authorized or
obligated to close. 
 “Business or Condition of the Company” means the business, condition (financial or otherwise), results
of operations, Assets and prospects of the Company and the Related Entity taken as a whole. 
  

 2 

 “Business Premises” shall have the meaning given in Section 3.15(c). 
 “CDC” shall mean CDC Corporation, a corporation incorporated under the laws of the Cayman Islands. 
 “Closing” shall mean the WOFE Closing or the Optic Closing, as the case may be. 
 “Closing Date” shall mean the WOFE Closing Date or the Optic Closing Date, as the case may be. 
 “Company” shall mean a wholly-owned foreign enterprise established under the laws of the PRC. 
 “Consideration” shall have the meaning given to such term in Section 2.02. 
 “Constitution” shall mean the memorandum of association, articles of association, certificate or articles of incorporation and by-laws,
or similar charter documents, as may be amended from time to time. 
 “contract” shall mean any agreement, instrument,
written contract or other arrangement, together with any related amendments, waivers, supplements, schedules, exhibits, work orders, notices as to termination or change thereunder. 
 “Creditor” shall mean a company with limited liability established under the laws of the PRC. 
 “Debt” shall mean the portion of the total debt owed by the Related Entity to the Creditor, amounting to RMB 60,000,000, which the
Purchaser shall procure the Related Entity to repay to the Creditor within Five Business Days after the Optic Closing. 
 “Disclosure
Schedule” shall mean a schedule delivered to the Purchaser by the Seller herewith and dated as of the Effective Date containing all lists, descriptions, exceptions, qualifications and other information and materials as are required to be
included therein by the Seller pursuant to this Agreement. 
 “Effective Date” shall mean the date of this Agreement.

 “Equipment Leases” shall mean leases of, and agreements to hire, equipment (including motor vehicles) to the Company
including, without limitation, those listed in Section 3. I6(c) of the Disclosure Schedule. 
 “Equity interest”
shall mean the entire equity interest in the registered capital of the Company. 
 “Equity Transfer Agreement” shall have the meaning given in Section 2.01 A.

 “Financial Statements” shall mean, collectively, 2005 Financial Statements, 2006 Financial Statements and the
Management Accounts of the Company and the Related Entity for January, February, March, April and May of 2007. 
 “Governmental
Licenses” means all licenses, permits, certificates of authority, authorizations, approvals, registrations, franchises and similar consents granted or issued by any Governmental or Regulatory Authority. 
  

 3 

 “Governmental or Regulatory Authority” shall mean any court, tribunal, arbitrator,
authority, agency, commission, official or other instrumentality of the British Virgin Islands, PAC, Hong Kong or any applicable foreign country or any domestic or foreign state, county, city or other political subdivision. 
 “Hong Kong” shall mean Hong Kong Special Administrative Region of the People’s Republic of China. 
 “Inception Date” shall mean the date of incorporation of the Company and/or the Related Entity as the case may be. 
 “Indebtedness” means, with respect to any Person: (a) all indebtedness of such Person, whether or not contingent, for borrowed
money, (b) all obligations of such Person for the deferred purchase price of property or services, (c) all obligations of such Person evidenced by notes, bonds, debentures or other similar instruments, (d) all indebtedness created or
arising under any conditional sale or other title retention agreement with respect to property acquired by such Person (even though the rights and remedies of the seller or lender under such agreement in the event of default are limited to
repossession or sake of such property), (e) all obligations of such Person as lessee under leases that have been or should be, recorded as capital leases, (0 all obligations, contingent or otherwise, of such Person under acceptance, letter of
credit or similar facilities, (g) all obligations of such Person to purchase, redeem, retire, defease or otherwise acquire for value any share capital of such Person or any warrants, rights or options to acquire such share capital, valued, in
the case of redeemable preferred stock, at the greater of its voluntary or involuntary liquidation preference plus accrued and unpaid dividends, (h) all Indebtedness of others referred to in clauses (a) through (g) above guaranteed
directly or indirectly in any manner by such Person, or in effect guaranteed directly or indirectly by such Person through an agreement (i) to pay or purchase such Indebtedness or to advance or supply funds for the payment or purchase of such
Indebtedness, (ii) to purchase, sell or lease (as lessee or lessor) property, or to purchase or sell services, primarily for the purpose of enabling the debtor to make payment of such Indebtedness or to assure the holder of such Indebtedness
against loss, (iii) to supply funds to or in any other manner invest in the debtor (including any agreement to pay for property or services irrespective of whether such property is received or such services are rendered) or (iv) otherwise
to assure a creditor against loss, and (i) all Indebtedness referred to in clauses (a) through (g) above secured by (or for which the holder of such Indebtedness has an existing right, contingent or otherwise, to be secured by) any
encumbrance on property including, without limitation, accounts and contract rights owned by such Person (including Assets as relates to the Company and the Related Entity), even though such Person has not assumed or become liable for the payment of
such Indebtedness. 
 “Intellectual Property” shall mean:
(a) copyrightable works, copyrights and design rights including all applications, registrations, and renewals in connection therewith; (b) trademarks, service marks, trade dress, logos, trade names, and corporate names, together with all
translations, adaptations, derivations, and combinations thereof and including all goodwill associated therewith, and all applications, registrations, and, renewals in connection therewith; (c) inventions, discoveries and patents (whether patentable or unpatentable and whether or not reduced to practice); (d) trade secrets and confidential information (including ideas, research and
development, know-how, formulas, manufacturing and production processes and techniques, technical data, designs, drawings, specifications, customer and supplier lists, pricing and cost information, and business and marketing plans and proposals);
(e) computer software (including data and related documentation) or source or object code, including improvements, revisions, amendments, modifications or alternations; (I) other proprietary, intellectual and industrial rights in whatever
form or medium, including moral rights; and (g) the IP Assets. 
  

 4 

 “IP Assets” shall mean (a) the computer software and music content created,
developed, designed, licensed and owned by the Company and/or the Related Entity and all improvements, revisions, amendments, modifications or alterations thereto, including but not limited to those as set forth in Sections 3.17(c) and
(d) of the Disclosure Schedule; (b) the platform, carrier and/or protocol specific applications; (c) the localization versions of software embedded with content owned by third parties; and (d) all improvements, revisions,
amendments, modifications or alterations thereto. 
 “KPMG” shall mean KPMC; the reporting accountants of the Company and the
Related Entity. 
 “Law”
 shall mean all laws, statutes, rules, regulations, ordinances, Orders and other pronouncements having the effect of law of the British Virgin Islands,
PRC, Hong Kong or of any Governmental or Regulatory Authority. 
 “Liability” as used either singularly or in the
plural shall mean any liability, debt or obligation of the Company or the Related Entity, including any drawdowns under any loans made to the Company or the Related Entity after the Closing Date. 
 “Lien” shall mean any lien, pledge, hypothecation, mortgage, charge, security interest, claim, lease, charge, option, right of first
refusal, right to acquire, pre-emptive rights, conversion rights, easement, encroachment, transfer restriction, or other encumbrance or commitment of any kind. 
 “Loss” shall mean any and all damages, fines, fees, penalties, obligations, judgments, deficiencies, losses and expenses (including without limitation interest, actual court costs, reasonable fees of
attorneys, reasonable retainers, reasonable fees of accountants and other experts or other reasonable expenses of litigation, reasonable witnesses costs/expenses or other proceedings or of any claim, default or assessment). 
 “Management Accounts” shall mean the unaudited balance sheet and profit and loss statement of the Company and the Related Entity for
January 2007, February 2007, March 2007, April 2007 and May 2007 made available to the Purchaser prior to Closing. 
 “Material Adverse Effect” shall mean any event, change in or effect on the Company or the Related Entity that, individually or in the aggregate, has had or is reasonably expected to have a material adverse effect on the
Business or Condition of the Company. 
 “Material Contracts” shall have the meaning given in Section 3.18(d).

 “Optic Closing” shall have the meaning given to such term in Section 2.038. 
 “Optic Closing Date” shall mean the third Business Day after all conditions precedent for the transfer of the Related Entity Equity
Interest have been fulfilled or waived in accordance with Section 7 and 8 of this Agreement and the Related Entity Equity Transfer Agreement, respectively, or such other date as the Purchaser and the Seller shall mutually agree in writing.

 “Order” shall mean any writ, judgment, decree, injunction or similar order of any Governmental or Regulatory Authority (in
each such case whether preliminary or final). 
 “Person” shall mean an individual, partnership, corporation, association,
trust, joint venture, unincorporated organization, and any government, governmental department or agency or political subdivision thereof. 
  

 5 

 “Plant and Equipment” shall have the meaning given in Section 3.16(b).  

 “PRC” shall mean the People’s Republic of China. 
 “Proceeding” shall have the meaning given in Section 3.07. 
 “Property Leases” shall mean all property leases executed by the Company or any Related Entity that are effective as of the Effective
Date. 
 “Purchaser” shall have the meaning given in the preamble hereto.  
 “RMB” shall mean the renminbi, the legal currency of the PRC 
 “Records” shall mean originals or copies, of all books, files, reports or records of or relating to or used in connection with the
Company and the Related Entity and including, without limitation: (a) minute books, statutory books and registers, books of account and copies of taxation returns; (b) all sales and purchasing records; and (c) lists of all regular
suppliers and customers. 
 “Related Entity” shall mean 
or Guangzhou Optic Communications Co., Ltd , a company with limited liability established under the laws of the PRC. 
 “Related Entity Equity Interest” means the entire equity interest in the registered capital of the Related Entity. 
 “Related Entity Equity Transfer Agreement” shall have the meaning given in Section 2.01B. 
 “Remaining Optic Debt” shall mean the remaining amount of debt owed by the Related Entity to the Creditor as at the Optic Closing less
the Debt which the Related Entity will repay pursuant to Section 2.02(a)(iii). 
 “Representatives” shall have the
meaning given in Section 5.01.  
 “Seller” shall have the meaning given in the preamble hereto. 
 “Subsidiaries” when used in plural or “Subsidiary” when used singly shall mean, in relation to the Company, a corporate
entity (a) whose voting shares or equity interests are owned more than 50% by the Company and (b) over which managing body the Company exercises control, directly or indirectly, including the Related Entity. 
 “Tax” and “Taxes” means and includes any and all taxes (including, without limitation, any and all income, franchise, sales,
use, excise, withholding, employment, payroll, social security, property, fringe benefits, capital gains, goods and services, group and stamp and custom duties taxes) and similar assessments, customs, duties, charges and fees (including interest,
penalties and additions to such taxes, assessments, customs, duties, charges and fees, penalties for failure to file or late filing of any return, report or other filing, and any interest in respect of such penalties and additions) imposed or
assessed by any federal, state or local taxing authority, including without limitation, British Virgin Islands, the PRC or Hong Kong (or any political subdivision thereof or therein) in relation to the Company and/or the Related Entity only.

 “Tax Claim” shall mean any assessment notice (including a notice of adjustment of a loss 

  

 6 

 
in a manner adversely affecting the Company or any Related Entity), demand or other document issued or action taken by or on behalf of any Governmental or
Regulatory Authority, based on any facts or circumstances (or part thereof) arising or existing prior to the WOFE Closing and the Optic Closing, as the case may be, as a result of which the Company or any Related Entity is liable to make a payment
for any tax, levy, impost, deduction, charges, withholdings and duties (excluding stamp duties) or has suffered a loss, together with related interest, penalties, fines and other statutory charges whether accrued before or after the WOFE Closing and
the Optic Closing. 
 “Transaction Documents” shall mean this Agreement (and all relevant share transfers, share
certificates, board and shareholder resolutions and any other ancillary documents required for the consummation of this Agreement), the Equity Transfer Agreement, the Related Entity Equity Transfer Agreement, Assignment of Remaining Optic Debt, and
any documents modifying or supplementing the contractual arrangements between the Purchaser, the Company and/or the Related Entity. 
 “U.S.” or “US” shall mean the United States of America. 
 “WOFE Closing” shall have the meaning
given to such term in Section 2.03A. 
 “WOFE Closing Date” shall mean the third Business Day after all conditions
precedent for the transfer of Equity Interest have been satisfied or waived in accordance with Section 7 and 8 of this Agreement and the Equity Transfer Agreement, respectively, or such other date as the Purchaser and the Seller shall mutually
agree in writing. 
  

	1.02	Principles of Construction. 

  

	 	(a)	All references to sections, schedules and exhibits are to sections, schedules and exhibits in or to this Agreement unless otherwise specified. The words “hereof,”
“herein,” and “hereunder” and words of similar import when used in this Agreement shall refer to this Agreement as a whole and not to any particular provisions of this Agreement. 

  

	 	(b)	All accounting terms not specifically defined herein shall be construed in accordance with generally accepted accounting principles in Hong Kong 

  

	 	(c)	The singular terms include the plural and the plural terms include the singular. 

  

	 	(d)	The headings used in this Agreement have been inserted for convenience of reference only and do not define or limit the provisions hereof. 

  

	 	(e)	Any reference to a Person’s “knowledge” or “best knowledge” shall be deemed to include an additional statement that all reasonable, due and careful inquiry
has been made. 

  

	Section 2.	Transfer of the Equity Interest, the Related Entity Equity Interest, the Assignment of Remaining Optic Debt, and Consideration. 

 Subject to the terms and conditions hereof, and in reliance upon the representations, warranties and covenants contained in this Agreement as of the date
hereof and on the Closing Date, the Seller shall: 
  

	2.01A	Transfer of the Equity Interest. 

 transfer to the
Purchaser, and the Purchaser shall purchase from the Seller the Equity 

  

 7 

 
Interest on terms and conditions set out in the agreement governing the transfer of the Equity Interest (the “Equity Transfer Agreement”)
(the form of which is set out in Schedule x to this Agreement); 
  

	2.01B	Transfer of the Related Entity Equity Interest. 

 procure the individuals and the designated entities, whose identities and company names are set out in Schedule y to this Agreement, who collectively hold 100% equity interests in the Related Party as at the Effective Date, to enter into
the agreement in relation to the transfer of the entire equity interest in the Related Entity (the “Related Entity Transfer Agreement”) (the form of which is shown in Schedule y to this Agreement). The Seller shall not be held
liable whatsoever under the Transaction Documents if the transfer of the Related Entity Equity Interest to the Purchaser or its nominee(s) is not completed due to the acts of the Purchaser or the fact that persons or entities nominated by the
Purchaser are not qualified as eligible persons to be holders of the registered capital of the Related Entity under relevant law and regulations in PRC. For avoidance of doubt, the Purchaser has the obligations to procure persons or nominees which
are qualified as eligible persons to be holders of the registered capital of the Related Entity under relevant law and regulations in PRC. The Seller shall procure the individuals and/or the designated entities, whose identities and company names
are set out in Schedule y to this Agreement, to complete and sign all documents necessary to effect the transfer of the Related Entity Equity Interest; and 
  

	2.01C.	Assignment of Remaining Optic Debt. 

 assign to the
Purchaser or its nominee the Remaining Optic Debt on terms and conditions set out in the Assignment of Remaining Optic Debt (the form of which is set out in Schedule z to this Agreement). In the event that the Assignment of Remaining Optic Debt is
found to be invalid or unenforceable for any reason whatsoever the Seller agrees that the Seller will cause the assignor of the Remaining Optic Debt to hold any proceeds they receive from any payment of the Remaining Optic Debt in trust for the
Purchaser or its nominee and the assignor will pay such proceeds to the Purchaser or its nominee at the Purchaser’s direction. The Seller unconditionally and irrevocably guarantees to the Purchaser the due and punctual discharge by the assignor
of all of its obligations under this Section 2.01C and promises to pay on demand each sum (including any interest charges thereon up to and including such charges arising from the date of demand hereof until the date of payment hereunder) which
the assignor is liable to pay under this Section 2.0I C. 
  

	2.02	Consideration. 

  

	 	(a)	The total consideration to be paid for the Equity Interest and the Related Entity Equity Interest by the Purchaser shall be RMB100 million (the “Consideration”) and
shall be paid in cash by wire transfer to the designated account of the Seller in the following manner: 

  

	 	(i)	RMB10,000,000 in US$ equivalent shall be paid by the Purchaser to the Seller on the WOFE Closing Date; 

  

	 	(ii)	RMB30,000,000 shall be paid by the Purchaser to the Seller or its nominee on the Optic Closing Date; and 

  

	 	(iii)	 the Purchaser shall procure the Related Entity to repay the Debt in full to the Creditor within Five Business Days after the Optic Closing. CDC unconditionally and
irrevocably guarantees to the Seller the due and 

  

 8 

	 	 
punctual discharge by the Purchaser and the Related Entity of all of its obligations under this Section 2.02(a)(iii) and promises to pay on demand each
sum (including any interest charges thereon up to and including such charges arising from the date of demand hereof until the date of payment hereunder) which the Related Entity is liable to repay under this Section 2.02(a)(iii). CDC’s
obligations shall be a continuing guarantee. The Seller may make claims and demands from the Purchaser without limit of number. 

  

	 	(b)	For the purpose of this Section 2.02, unless otherwise agreed in this Agreement, Equity Transfer Agreement, the Related Entity Equity Transfer Agreement and the Assignment of
Remaining Optic Debt, any translation from one currency or currency unit to another shall be at the official rate of exchange recognized by the central bank for the conversion of that currency or currency unit into the other published on the
Business Day immediately prior to the date of the relevant payment pursuant to Section 2.02(a) above. 

  

	 	(c)	For the avoidance of doubt, the consideration for the Assignment of Remaining Optic Debt shall be zero. 

  

	2.03A	The WOFE Closing. 

 The closing for the transfer of
the Equity Interest (the “WOFE Closing”) shall take place on the WOFE Closing Date at the offices of the Purchaser in Hong Kong or at such other time, date and place as the Parties may agree in writing. At or before the WOFE
Closing: 
  

	 	(a)	the Seller shall deliver or cause to be delivered to the Purchaser the completion documents as provided under the Equity Transfer Agreement, including but not limited to the
followings: 

  

	 	(i)	certified copies of board or other necessary resolutions of the Company for the implementation of the matters referred to in Section 2.03A(b) below; 

 

	 	(ii)	an original copy of board resolution of the board of directors of the Seller certified by the notary public of the British Virgin Islands and legalized by the Chinese Embassy in
London to approve the Equity Transfer Agreement and duly authorize a director of the Seller to execute the Equity Transfer Agreement; 

  

	 	(iii)	the approval of the State Administration of Industry and Commerce of the PRC in relation to the transfer of Equity Interest from the Seller to the Purchaser or its nominee; and

  

	 	(iv)	such other PRC governmental and regulatory approvals in relation to the transfer of Equity Interest (if any); 

  

	 	(b)	the Seiler shall procure that the following businesses be transacted at a meeting of the directors of the Company: 

  

	 	(i)	the directors of the Company to approve the transfer of the Equity Interest and the registration of the Equity Transfer Agreement and the transfer of Equity Interest with the
applicable PRC company registration authorities; 

  

 9 

	 	(ii)	all existing mandates for the operation of the accounts of the Company shall be revoked and new mandates issued giving authority to those persons nominated by the Purchaser;

  

	 	(iii)	persons nominated by the Purchaser for appointment as directors, legal representative of the Company shall be so appointed; and 

  

	 	(iv)	auditors nominated by the Purchaser (if any) for appointment as auditors of the Company shall be so appointed to replace the existing auditors; 

  

	 	(c)	the Purchaser shall deliver or cause to be delivered to Seller: 

  

	 	(i)	a copy of such necessary bank document evidencing the wire transfer of the payments in an amount equal to RMB10,000,000 in US$ equivalent as provided under Section 2.02(a)(i);

  

	 	(ii)	certified copies of resolutions duly adopted by the board of directors of the Purchaser authorizing and approving the execution of the Equity Transfer Agreement, and the performance
and completion of the transactions contemplated under the Equity Transfer Agreement; and 

  

	 	(iii)	other completion documents as provided under the Equity Transfer Agreement (if any); 

  

	 	(d)	the Purchaser shall procure persons or nominees which are qualified as eligible persons to be holders of the Equity Interest under relevant law and regulations in PRC.

  

	2.03B	The Optic Closing. 

 The closing for the transfer of
the Related Entity Equity Interest and the assignment of the Remaining Optic Debt (the “Optic Closing”) shall take place on the Optic Closing Date at the offices of the Purchaser in Hong Kong or at such other time, date and place as
the Parties may agree in writing. At or before the Optic Closing: 
  

	 	(a)	the Seller shall procure to be delivered to the Purchaser the respective completion documents as provided under the Related Entity Equity Transfer Agreement and the Assignment of
Remaining Optic Debt, including but not limited to the followings: 

  

	 	(i)	certified copies of board or other necessary resolutions of the Related Entity for the implementation of the matters referred to in Section 2.03B(b) below;

  

	 	(ii)	certified copies of board or other necessary resolutions of the Creditor for the implementation of the matters referred to in Section 2.03B(c) below; 

 

	 	(iii)	the approvals of the Ministry of Information Industry of the PRC and the State Administration of Industry and Commerce of the PRC in relation to the transfer of Related Entity
Equity Interest from the Seller to the Purchaser or its nominee(s); 

  

	 	(iv)	the relevant documentation evidencing the assignment of total debts in the aggregate amount of RMB 193,983,973 in favour of the Creditor on or before the Optic Closing Date;

  

 10 

	 	(v)	written confirmation from the Related Entity confirming the remaining amount of debt owed by the Related Entity to the Creditor as of the Optic Closing Date; and

  

	 	(vi)	such other PRC governmental and regulatory approvals in relation to the transfer of the Related Entity Equity Interest (if any); 

 2.03B (a)(iii) and (vi) are not applicable if the approvals are not obtained due to either the lack of qualification of the Purchaser or its
nominees or any actions on their parts; 
  

	 	(b)	the Seller shall procure that the following businesses be approved by the sole director and legal representative of the Related Entity: 

  

	 	(i)	the directors of the Related Entity to approve the transfer of the Related Entity Equity Interest and the registration of the Related Entity Equity Transfer Agreement with the
applicable PRC registration authorities; 

  

	 	(ii)	all existing mandates for the operation of the accounts of the Related Entity shall be revoked and new mandates issued giving authority to those persons nominated by the Purchaser;

  

	 	(iii)	persons nominated by the Purchaser for appointment as directors, legal representative of the Related Entity shall be so appointed; and 

  

	 	(iv)	auditors nominated by the Purchaser (if any) for appointment as auditors of the Related Entity shall be so appointed to replace the existing auditors; 

  

	 	(c)	the Seller shall procure the directors of the Creditor to approve the assignment of the Remaining Optic Debt; 

  

	 	(d)	the Purchaser shall deliver or cause to be delivered to Seller: 

  

	 	(i)	a copy of such necessary bank document evidencing the wire transfer of the payments in an amount equal to RMB30,000,000 as provided under Section 2.02(a)(ii);

  

	 	(ii)	certified copies of resolutions duly adopted by the board of directors of the Purchaser authorizing and approving the execution of the Related Entity Equity Interest Agreement and
the Assignment of Remaining Optic Debt and the performance and completion of the transactions contemplated under the Related Entity Equity Transfer Agreement and the Assignment of Remaining Optic Debt, respectively; and 

  

	 	(iii)	other completion documents as provided under the Related Entity Equity Transfer Agreement and the Assignment of Remaining Optic Debt (if any); 

  

	 	(d)	the Purchaser shall procure persons or nominees which are qualified as eligible persons to be holders of the registered capital of the Related Entity under relevant law and
regulations in PRC. 

  

 11 

	2.03C	Post-Closing. 

 The Purchaser will make, and will cause the
Company and the Related Entity (after the respective Closing) to cooperate with the Seller as promptly as practicable to make, filings as may be required with the Ministry of News and Publishing of the PRC and the Ministry of Culture of the PRC in
relation to the transfer of the Equity Interest or the Related Entity Equity Interest from the Seller to the Purchaser or its nominee(s). 
  

	Section 3.	Representations and Warranties of the Seller. 

  

	3.01A	The Seller represents, warrants and undertakes to the Purchaser that the warranties set out in Section 3.01 to 3.26 (the “Warranties”) contained are true and
correct in all material respects as at the date of this Agreement. Each of the Warranties shall be deemed to be repeated as at Closing with reference to the facts and circumstances then subsisting. 

  

	3.0lB	The Warranties set out below shall be separate and independent and none of the Warranties shall be limited or restricted by reference to or inference from the terms of any other
Warranties or any other term of this Agreement. 

  

	3.0IC	The Warranties are and shall be given subject to the matter disclosed or referred to in this Agreement or in the Disclosure Schedule and to matters arising in the ordinary course of
business of the relevant entity which do not or is unlikely to cause a Material Adverse Effect, to the intent that the Seller shall not be liable by reason of any of the Warranties being untrue or misleading or breached to the extent that the same
has been disclosed in this Agreement or the Disclosure Schedule and to the extent that the same has arisen in the ordinary course of the related entity’s business which do not or is unlikely to cause a Material Adverse Effect.

  

	3.01	Authority. 

  

	 	(a)	The Seller has full legal capacity, power and authority to enter into, execute and deliver this Agreement and, where applicable, the Transaction Documents to which it is a party,
and to perform each of its obligations hereunder, thereunder and under each of the other documents required to be entered into pursuant hereto. This Agreement and each applicable Transaction Document to which the Seller is a party have been duly and
validly executed and delivered by the Seller and will constitute a legal, valid and binding obligation of the Seller enforceable against the Seller in accordance with its terms subject to bankruptcy, reorganization, insolvency, moratorium,
restructuring or similar laws of general applicability relating to or affecting creditors’ rights generally and to general principles of equity. No meeting has been convened or resolution proposed, or petition presented, and no order has been
made, for the winding-up of the Seller. No voluntary arrangement has been proposed or reached with any creditors of the Seller. The Seller is able to pay its debts as and when they fall due and is solvent. 

  

	3.02	Organization of the Company. 

  

	 	(a)	The Company is a wholly owned foreign enterprise duly organized and validly existing under the Laws of the PRC, and has full corporate power and authority to conduct its business as
and to the extent now conducted and to own, use and lease its assets and properties. 

  

 12 

	 	(b)	The Company is duly qualified, licensed or admitted to do business in each of such jurisdiction to the extent that such qualification, licensure or admission is required by that
jurisdiction’s laws. The Company has full corporate power to own its properties, assets and business and to carry on its business operations and has done everything necessary to do business lawfully in the aforementioned jurisdictions.

  

	 	(c)	The name of each director and officer of the Company on the date hereof, and the position with the Company held by each, are listed in Section 3.02(c) of the Disclosure
Schedule. 

  

	 	(d)	Prior to the Effective Date, the Seller and the Company have made available to the Purchaser true copies of the Constitution and Records of the Company as in effect on the Effective
Date. The Records are: (i) true and accurate in all material respects; 

  

	 	(ii)	as far as is relevant, have been prepared in accordance with applicable Law; and 

  

	 	(iii)	are in the possession of the Company in their original form. 

  

	 	(e)	The Company and the Related Entity have filed and/or registered all annual returns and other Records as and where required to be filed and/or registered. 

 

	3.03	Total Equity. 

  

	 	(a)	The total paid and verified registered capital of the Company is USD1,210,000. The Seller is the registered owner of the entire registered capital of the Company.

  

	 	(b)	The Equity Interest is being transferred to the Purchaser by the Seiler free and clear of any Lien or other interests of any other third party whatsoever. 

 

	 	(c)	There are no contractual commitments in place under which the Company is obligated at any time to increase its registered capital as of the WOFE Closing Date unless otherwise
specifically required by the Purchaser and agreed by the Seller. 

  

	 	(d)	There are no outstanding options with respect to the Company. 

  

	 	(e)	There will be at the WOFE Closing no restriction(s) on the transfer of the Equity Interest to the Purchaser whatsoever. 

  

	3.04	Related Entity. 

  

	 	(a)	Related Entity is a limited liability company duly organized and validly existing under the Laws of the PRC and has full corporate power and authority to conduct its businesses,
including but not limited to online games, wireless and research and development studio business, as and to the extent now conducted and to own, use and lease its assets and properties. Section 3.04(a) of the Disclosure Schedule sets
forth the business scope of the Related Entity as specified in its business license and its ICP license. Each such business scope is sufficient for the relevant Related Entity to conduct its business to the extent it has been and is currently
conducted. 

  

	 	(b)	 The Related Entity has full legal capacity, power and authority to enter into, execute and deliver the Transaction Documents to which it is a party, and to perform
each of its obligations thereunder and under each of the other documents required to be entered into pursuant hereto. Each applicable Transaction Document to which the Related Entity is a party have been duly and validly executed and delivered by
the Related Entity and will constitute a legal, valid and binding obligation of the Related Entity enforceable against the Related Entity in 

  

 13 

	 	 
accordance with its terms subject to bankruptcy, reorganization, insolvency, moratorium, restructuring or similar laws of general applicability relating to
or affecting creditors’ rights generally and to general principles of equity. No meeting has been convened or resolution proposed, or petition presented, and no order has been made, for the winding-up of the Related Entity. No voluntary
arrangement has been proposed or reached with any creditors of the Related Entity. The Related Entity is able to pay its debts as and when they fall due and is solvent. 

  

	 	(c)	The name of each beneficial holder of the Related Entity and the respective share ownership percentage position of the Related Entity held by each, are listed in
Section 3.04(c) of the Disclosure Schedule. 

  

	 	(d)	The name of each director and officer of the Related Entity on the date hereof, and the position with each respective Related Entity held by each, are listed in
Section 3.04(d) of the Disclosure Schedule. 

  

	 	(e)	Prior to the execution of this Agreement, the Seller and the Company have made available to the Purchaser true and complete (in all material respects) copies of the Constitution and
Records of the Related Entity as in effect on the date hereof. The Records are: (i) complete, true and accurate in all material respects; (ii) as far as is relevant, have been prepared in accordance with the applicable Law; and
(iii) are available to the Company in their original form. 

  

	 	(f)	The registered capital of the Related Entity has been fully paid according to the capital payment schedule stipulated in the articles of association of the Related Entity approved
by PRC relevant authorities and the equity interest in the Related Entity is not subject to any preemptive rights, put or call rights or obligations, rights of first refusal, anti-dilution rights or liquidation rights or other rights to subscribe
for the registered capital of the Related Entity. The equity interest in the Related Entity is owned, beneficially and of record, by the shareholders identified in Section 3.04(f) of the Disclosure Schedule free and clear of all Liens.
The Related Entity has properly reserved from its after-tax profits (if any) in each fiscal year the amounts required by applicable Law in the PRC to the reserve fund and staff bonus and welfare fund. 

  

	 	(g)	There are no other corporations, partnerships, joint ventures, associations or other entities in which the Related Entity owns, of record or beneficially, any direct or indirect
equity or other interest or any right (contingent or otherwise) to acquire the same. 

  

	 	(h)	The Creditor is the sole beneficial owner of the Debt and the Remaining Optic Debt to the exclusion of the previous assignors of parts of the Debt and the Remaining Optic Debt.

  

	3.05	No Conflicts. 

 To the best knowledge of the Seller,
the execution and delivery by the Seller, the Company and the Related Entity of this Agreement and the Transaction Documents to which they are parties do not, and the performance by the Sellers and the Company of their respective obligations under
this Agreement and such Transaction Documents and the consummation of the transactions contemplated hereby will not breach any laws or contracts, will not require the consent of any third party and will not give rise to any third party having any
enforceable right against the Company or the Related Entity which would not have arisen but for the execution and performance of this Agreement and the Transaction Documents. 
  

 14 

	3.06	Governmental Approvals and Filings. 

 No consent,
approval or action of, filing with or notice to any applicable Governmental or Regulatory Authority on the part of the Seller, the Company or the Related Entity is required in connection with the execution of this Agreement and the Transaction
Documents. 
  

	3.07	Legal Proceedings. 

 Save for recovery actions for
receivables incurred in the ordinary course of business of the Company and the Related Entity, neither the Company nor the Related Entity is a party to any litigation, arbitration, prosecutions, claims, disputes, investigations or to any other legal
or contractual proceedings (together “Proceedings”) and as far as the Seller is aware, there are no facts or circumstances subsisting which might give rise to such Proceedings and there are no unfulfilled or unsatisfied judgments or court
orders against the Company and the Related Entity. 
  

	3.08	Compliance with Laws and Orders. 

 Each of the
Company, the Related Entity and the Seller has complied in all material respects with applicable Law and Order and to the best knowledge of the Seller, none of the Company, the Related Entity or the Seller is or has at any time since their
respective establishments been, or has received any notice that it is or has at any time been, in violation of or in default under, in any material respect, any Law or Order applicable to the Company or the Related Entity or any of their respective
Assets which would cause a Material Adverse Effect. 
  

	3.09	[Intentionally Deleted] 

  

	3.10	No Bankruptcy or Insolvency. 

  

	 	(a)	To the best knowledge of the Seller, no order has been made, or petition presented, or resolution passed for the winding-up of the Company or the Related Entity or the Seller. None
of the Company or the Related Entity or the Seller has had: 

  

	 	(i)	any petition or order for winding-up filed against it; 

  

	 	(ii)	any appointment of a receiver over the whole or part of the undertaking of its assets; 

  

	 	(iii)	any petition or order for administration against it; 

  

	 	(iv)	any voluntary arrangement between any creditor and it; 

  

	 	(v)	any distress or execution or other process levied in respect of it which remain undischarged; or 

  

	 	(vi)	any unfulfilled or unsatisfied judgment or court order against it over the amount of US$100,000. 

  

	 	(b)	None of the Company or the Related Entity or the Seller is insolvent and each can pay its debts as and when they fall due if and only if the Debt and the Remaining Optic Debt are
disregarded. 

  

 15 

	 	(c)	To the best knowledge of the Seller, there are no circumstances which would entitle any Person to successfully present a petition for the winding-up or administration of the Company
or the Related Entity or the Seller or to appoint a receiver over the whole or any part of the undertaking or assets of the Company or the Related Entity or the Seller. 

  

	3.11	Financial Representations. 

  

	 	(a)	The Management Accounts (i) were prepared in accordance with the books of account and other financial records of the Company and the Related Entity; (ii) present fairly
the financial condition and results of operations of the Company and the Related Entity as at the dates thereof or for the respective periods covered thereby; (iii) have been prepared in accordance with generally accepted accounting principles
of Hong Kong applied on a basis consistent with the past practices of the Company and the Related Entity; and (iv) include all adjustments that are necessary for a fair presentation of the financial condition of the Company and the Related
Entity and the results of the operations of the Company and the Related Entity as of the dates thereof or for the periods covered thereby. As at 31 May 2007, there are no Liabilities of the Company, or the Related Entity, other than Liabilities
that are reflected or reserved against on the Management Accounts as at May 31, 2007. 

  

	 	(b)	The books of account and other financial records of the Company and the Related Entity: (i) reflect all items of income and expense and all assets and Liabilities required to
be reflected therein in accordance with generally accepted accounting principles of PRC applied on a basis consistent with the past practices of the Company and the Related Entity, respectively; (ii) are in all material respects complete and
correct, and do not contain or reflect any material inaccuracies or discrepancies; and (iii) have been maintained in accordance with good business and accounting practices. 

  

	 	(c)	Section 3.11(c) of the Disclosure Schedule sets forth each and every account maintained by each of the Company and the Related Entity at a bank or other financial
institution, including the name of such bank or financial institution, account number and the amount of balance on such account. 

  

	 	(d)	All forecasts and projections of any future financial results of the Company and the Related Entity provided to the Purchaser by or on behalf of the Company, any of the
Company’s or the Related Entity’s management or the Seller were prepared in good faith. 

  

	3.12	No Undisclosed Indebtedness. 

 As at 31 May
2007, other than the Remaining Optic Debt , the Debt and those set forth in Section 3.12 of the Disclosure Schedule, neither the Company nor the Related Entity has any undisclosed Indebtedness in excess of US$100,000. 
  

	3.13	Taxes. 

 Subject to Section 3.13A below,

  

	 	(a)	 The Company and the Related Entity have duly filed all tax returns for any period on or before the Closing Date and the same have been made or given in good faith
within the requisite periods and on a proper basis and when made were true and 

  

 16 

	 	 
accurate in all material respects and are up to date and none of them contains any statement that is false or misleading in any material respects or omits to
refer to any material matter which is required to be included or without which the statement is false or misleading. None of such tax return is or is likely to be the subject of any dispute with any tax authority. 

  

	 	(b)	The Company and the Related Entity have paid when due, and have withheld, deducted and accounted to the relevant authorities for, all Taxes which they have become liable to pay,
withhold, deduct or account for on or before the date hereof. For the purposes of this Section 3.13(b) “a liability to pay” includes a liability to pay any penalty or interest. 

  

	 	(c)	The Company and the Related Entity have complied in all material respects with all legislation, regulations, executive orders and directions relating to or associated with any
Taxes. 

  

	 	(d)	Save for the tax implications which may arise as a result of the transactions contemplated under the Transaction Documents and those disclosed in the financial statements, there are
no outstanding or likely disputes or questions or demands between the Company and the Related Entity, on the one hand, and any Governmental or Regulatory Authority or agent thereof, on the other hand, concerning any Tax liability. There are no Tax
liens on any of the Assets of the Company or the Related Entity. Neither the Company nor the Related Entity has received any claim from any taxing authority in a jurisdiction in which the Company or the Related Entity is or may be subject to
taxation and in which the Company or the Related Entity has failed to file tax returns required by that jurisdiction. The Seller have made available to the Purchaser correct and complete copies of all tax returns, examination reports, and statements
of deficiencies assessed against or agreed to by the Company and the Related Entity since the Inception Date. 

  

	 	(e)	Other than pursuant to this Agreement, neither the Company nor any Related Entity has ever been a party to or bound by any Tax indemnity, Tax sharing or similar agreement and
neither the Company nor the Related Entity has any material liability for any Taxes of any other person. 

  

	3.13A	The warranties given under Section 3.13 do not cover, and the Seller shall not be held liable in respect of, any Tax or Tax Claim: 

  

	 	(a)	to the extent that provision has been made for such Tax or Tax Claim in the unaudited accounts of the Company and/or the Related Entity or any of them for an accounting period ended
on or before 31 May 2007; 

  

	 	(b)	falling on the Company and/or the Related Entity in respect of any accounting period commencing on or after 31 May 2007 unless liability for such Tax or Tax Claim would not
have arisen but for some act or omission of, or transaction entered into by, the Seller, the Company and/or the Related Entity or any of them (whether alone or in conjunction with some other act, omission or transaction, whenever occurring),
otherwise than in the ordinary course of business, or otherwise than in the ordinary course of acquiring or disposing of capital assets, on or before the WOFE Closing Date and the Optic Closing Date, whichever is later; 

  

	 	(c)	 to the extent that such Tax or Tax Claim arises or is incurred as a consequence of any change in the law, rules or regulations, or the interpretation or practice

  

 17 

	 	 
thereof by the PRC Tax Bureau or any other statutory or governmental authority (in the PRC, Hong Kong or elsewhere) having retrospective effect coming into
force after the Effective Date or to the extent that such Tax or Tax Claim arises or is increased by an increase in rates of Tax after the Effective Date with retrospective effect; 

  

	 	(d)	to the extent that such Tax or Tax Claim is discharged by person other than the Company and/or the Related Entity and that none of the Company and/or the Related Entity is required
to reimburse such person in respect of the discharge of the Tax; 

  

	 	(e)	to the extent of any provision or reserve made for Tax or Tax Claim in the unaudited accounts referred to in 3.13A(a) above which is finally established to be an over-provision or
an excessive reserve; or 

  

	 	(f)	to the extent that such Tax or Tax Claim arises or is incurred as a consequence of the transactions contemplated hereunder or of matters otherwise approved or confirmed by the
Purchaser. 

  

	3.14	Employment and Benefits. 

  

	 	(a)	Section 3.14(a) of the Disclosure Schedule contains a list of the key employees of the Company and summary of key terms including the expiration of their current term of
employment as at Closing (the “Key Employees”). 

  

	 	(b)	Section 3.14(b) of the Disclosure Schedule contains an accurate list of each Benefit Plan of the Company and the Related Entity and none of the Company or the Related
Entity has made any commitments to establish new or to expand Benefit Plans as set forth therein. 

  

	 	(c)	To the best knowledge of the Seller, the Company and the Related Entity have complied with all applicable Laws relating to each Benefit Plan. All contributions or payments required
to be made by the Company or the Related Entity with respect to each Benefit Plan (including proper allocation of after-tax profit to the reserve fund and staff bonus and welfare fund each year put to the PRC law) have been made on or before their
due dates. All such contributions and payments required to be made by any employees of the Company or any Related Entity with respect to the relevant Benefit Plan have been fully deducted and paid to the relevant Governmental or Regulatory
Authorities on or before their due dates, and no such deductions have been challenged or disallowed by any Governmental or Regulatory Authority or any employee of the Company or any Related Entity. 

  

	 	(d)	With respect to each agreement with employees and contractors of the Company and the Related Entity, the Company and the Related Entity have duly performed and complied with all of
their obligations (including, but not limited to, the making all payments for services rendered and other benefits). The Company and the Related Entity have duly complied with applicable employment regulations in all material respects. Each of the
contracts entered into with employees, consultants or contractors of the Company and the Related Entity is enforceable against the parties to it and there is no party in breach of, or in default under, such contract which would have a Material
Adverse Effect. 

  

	 	 (e)
	 No employee or contractor has any rights to the Company’s or the Related Entity’s Intellectual Property and IP Assets, including the right to receive royalties or other payments from the Company or the Related Entity. The contractors do not have access to
the Intellectual Property in a manner that could materially impair or jeopardize the business of the Company and the Related Entity. 

  

 18 

	 	(f)	None of the Company or the Related Entity or the Seller has offered, promised or agreed for the future any material variation in any employment or contractor/service agreement of
the Company or the Related Entity, as the case may be, in the ordinary course of its business. Without limiting the generality of the preceding sentence, there has been no material change in the remuneration or benefits of any executives, directors,
officers of the Company or the Related Entity within the past 6 months. 

  

	 	(g)	No loans or other advances have been made to any director, officer, employee or contractor of the Company or the Related Entity, other than for travel allowances and other expenses
in the ordinary course of business. 

  

	3.15	Real Property and Business Premises. 

  

	 	(a)	Neither the Company nor the Related Entity owns any real property whatsoever. 

  

	 	 (b)
	 All of the commercial leases and subleases executed by the Company or the Related Entity are in full force and effect,
and neither the Company nor the Related Entity has received notice of any claim of any sort that is currently outstanding and that has been asserted
by anyone adverse to the rights of the Company or the Related Entity under any of the leases or subleases mentioned above, or affecting or questioning the rights of the Company or the Related Entity to the continued possession of the commercial
leased or subleased premises under any such commercial lease or sublease. 

  

	 	(c)	Section 3.15(c) of the Disclosure Schedule accurately in all material respects describes all the business premises leased or occupied by the Company or the Related
Entity (the “Business Premises”). The Company and the Related Entity, as the case may be, has exclusive occupation of the Business Premises. Neither the Company nor the Related Entity is in breach of any term or obligation of any
leases or licenses relating to the Business Premises. Neither the Company nor the Related Entity has been in default with respect to any payments required by it nor has it failed to comply with the terms of each of the leases and/or licenses
relating to the Business Premises, except for any default or failure as would not have a Material Adverse Effect. There are no current disputes relating to any of the Business Premises or their use. 

  

	3.16	Tangible Personal Property and Plant & Equipment. 

  

	 	(a)	Each of the Company and the Related Entity is in possession of and has good title to, or has valid leasehold interests in or valid rights under contract to use, all tangible
personal property including all plant and equipment used in the conduct of its business, including all tangible personal property reflected on the balance sheets of the Management Accounts as at May 3 I, 2007 other than property disposed of
since such date in the ordinary course of business. All such tangible personal property including all plant and equipment that is owned or leased by the Company and the Related Entity is free and clear of all Liens. 

  

	 	(b)	Section 3.16(b) of the Disclosure Schedule is a complete list of all material Equipment Leases. The Company and the Related Entity have made all payments required by and
have otherwise complied with the terms of each of the Equipment Leases, except for such failure thereof as would not have a Material Adverse Effect. 

  

 19 

	3.17	Intellectual Property. 

  

	 	(a)	Each of the Company and the Related Entity owns or has the right to use pursuant to license, sublicense, agreement or permission all the Intellectual Property set out in
Section 117(c) and 117(d) of the Disclosure Schedule, The Company and the Related Entity have taken all necessary, proper and reasonable steps and actions to maintain and protect their own Intellectual Property. 

 

	 	(b)	To the best knowledge of the Seller, neither the Company nor the Related Entity has, on its own behalf or through an agent, infringed upon, misappropriated, or used without a
required license, any Intellectual Property of third parties, or received any written charge, complaint, claim, demand, or notice alleging any such infringement, misappropriation, or misuse that has not been finally resolved (including any claim
that the Company or the Related Entity must license or refrain from using any Intellectual Property of any third party) which would have a Material Adverse Effect. To the best knowledge of the Seller, no third party has infringed upon,
misappropriated, or otherwise misused any Intellectual Property of the Company or the Related Entity. 

  

	 	(c)	Section 3.17(c) of the Disclosure Schedule identifies each registered/unregistered (as indicated) Intellectual Property that is materially related to the core business
of, and is owned by, the Company or the Related Entity and identifies each license, agreement, or other permission currently in effect pursuant to which the Company or the Related Entity has granted to any third party rights with respect to any of
such Intellectual Property other than in the ordinary course of business. The Company has delivered to the Purchaser correct and complete copies of all written documentation evidencing ownership and prosecution (if any) of rights of each such
Intellectual Property that is in the possession of the Company. With respect to each item of Intellectual Property which is registered and identified in Section 3.17(c) of the Disclosure Schedule: 

  

	 	(i)	the Company and the Related Entity possess all right, title, and interest in and each item, or has the valid right to use each item, free and clear of any Liens and none of the
Company or any Related Entity has assigned or in any way disposed of any right, title or interest in any item; 

  

	 	(ii)	each item is not subject to any outstanding injunction, judgment, order, decree, ruling, or charge; 

  

	 	(iii)	to the best knowledge of the Seller, no action, suit, proceeding, hearing, investigation, charge, complaint, claim, or demand has been filed or is threatened which challenges the
legality, validity, enforceability, use, or ownership of each item; and 

  

	 	(iv)	the Company and the Related Entity has taken all commercially reasonable steps to maintain appropriate registrations (if applicable) for each item and to protect and defend each
item. 

  

	 	(d)	 Section 3.17(d) of the Disclosure Schedule lists the items of Intellectual Property that any third party owns and that the Company and the Related
Entity use pursuant to applicable licenses, sublicenses, agreements, or permission (other than pursuant to shrink-wrap software licenses, shareware/open source or site licenses). With respect to each item of Intellectual Property identified on

  

 20 

	 	 
Section 3.17(d) of the Disclosure Schedule, the license, sublicense, agreement, or permission is and will continue to be legal, valid, binding,
enforceable, and in full force and effect on identical terms immediately following the consummation of the transactions contemplated hereby; and to the best knowledge of the Seller, neither the Company nor the Related Entity has received any notice
to the effect (or is otherwise aware) that the use by the Company or the Related Entity of the Intellectual Property conflicts with or allegedly conflicts with or infringes the rights of any Person. 

  

	 	(e)	To the best knowledge of the Seller, there has not been: 

  

	 	(i)	misuse or unauthorized disclosure of the Company’s or the Related Entity’s confidential information in any material respect; or 

  

	 	(ii)	other act which may affect the validity or enforceability of the Intellectual Property rights of the Company or the Related Entity in any material respect. 

 

	 	(f)	The Seller is not aware, having made due and proper inquiries, of any inappropriate, improper, unpermitted or infringing use by any other person of any of the business names or the
trade marks owned or used by the Company or the Related Entity which would have a Material Adverse Effect. 

  

	3.18	Contracts. 

  

	 	(a)	There are no contracts or obligations, agreements or arrangements involving the Company or the Related Entity and no practices in which the Company or the Related Entity is engaged,
which are void, illegal, unenforceable, registerable or under which contravene in any material respect, any fair competition legislation or regulations of any applicable Governmental or Regulatory Authority, nor has the Company or the Related Entity
received any threat or complaint or request for information or investigation in relation to or in connection with any such legislation or regulations which would have a Material Adverse Effect. 

  

	 	(b)	The Company and the Related Entity have duly performed and complied in all material respects with its obligations under all Material Contracts. Neither the Company nor the Related
Entity has made any offers, tenders or quotations which are still outstanding and capable of giving rise to a contract by the unilateral act of a third party, other than in the ordinary course of business and on customary terms.

  

	 	(c)	With respect to the Material Contracts: 

  

	 	(i)	each Material Contract is valid and binding on the parties thereto and is in full force and effect; 

  

	 	(ii)	upon consummation of the transactions contemplated by this Agreement and the Transaction Documents, each Material Contract shall continue in full force and effect without penalty or
Material Adverse Effect; and 

  

	 	(iii)	neither the Company nor the Related Entity has received any notice of termination, cancellation, breach or default under any Material Contract and, no party to any Material Contract
is in breach thereof or default thereunder. 

  

 21 

	 	(d)	Section 3.18(d) of the Disclosure Schedule contains a true and correct list of all material agreements, instruments, written contract or other arrangement, together with
any related amendments, waivers, supplements, schedules, exhibits, work orders, notices as to termination or change thereunder, to which the Company and the Related Entity or the Seller (as it relates to the Company) is a party (the
“Material Contracts”) which are material for the Business or Condition of the Company and the Related Entity. 

  

	3.19	Licenses. 

  

	 	(a)	Section 3.19(a) of the Disclosure Schedule contains a true and complete list of all Governmental Licenses used in and material to the business or operations of the
Company or any Related Entity, setting forth the owner, the function and the expiration and renewal date of each. Prior to the execution of this Agreement, the Company has made available to Purchaser true and complete copies of all such Governmental
Licenses. Except as disclosed in Section 3.19(a) of the Disclosure Schedule: 

  

	 	(i)	The Company and the Related Entity owns or validly holds all Governmental Licenses that are material to its business or operations; 

  

	 	(ii)	each Governmental License listed in Section 3.19(a) of the Disclosure Schedule is valid, binding and in full force and effect; and 

  

	 	(iii)	to the best knowledge of the Seller, neither the Company nor the Related Entity is, or has received any notice that it is, in default (or with the giving of notice or lapse of time
or both, would be in default) under any such Governmental Licenses. 

  

	 	(b)	Without limiting the generality of paragraph (a) above, all Governmental Licenses required under PRC law which are material for both due and proper establishment and operation
of businesses of the Company and the Related Entity and the conduct of the business of the Company and the Related Entity have been duly obtained from the relevant PRC authorities and are in full force and effect. Filings and registrations with the
relevant PRC authorities required in respect of Company and the Related Entity and its operations, including but not limited to registration with the Ministry of Information Industry of the PRC, Ministry of Foreign Trade and Economic Cooperation of
the PRC, the State Administration of Industry and Commerce of the PRC, the State Administration of Foreign Exchange of the PRC or their respective authorized local agencies, and the relevant tax bureau, customs authorities and product registration
authorities, have been duly completed in accordance with the relevant PRC rules and regulations in all material aspects. 

  

	3.20	Insurance. 

 The Related Entity has maintained valid
and currently effective insurance policies as required by applicable Law or regulations as disclosed in Section 3.20 of the Disclosure Schedule. 
  

	3.21	Disclosure and Information. 

  

	 	(a)	 No representation or warranty contained in this Agreement or in any other Transaction Document and given by, or on behalf of, any Seller, the Company, or the
Related Entity and no statement contained in the Disclosure Schedule, contains any 

  

 22 

	 	 
material misstatement or omits to state a material fact necessary in order to make the statements herein or therein, in the light of the circumstances under
which they were made, not misleading. 

  

	 	(b)	To the best knowledge of the Seller, there are no material facts or circumstances that could adversely affect the Equity Interest, the Company, the Related Entity, or the Seller (as
it relates to the Company), any of the Assets or the condition (financial or otherwise), operations, profitability or prospects of the Company or the Related Entity as a whole which have not been fully and properly disclosed to the Purchaser.

  

	 	(c)	The Constitution, minute books and other similar records of the Company and the Related Entity as made available to the Purchaser prior to the Effective Date contain true and all
material record, of actions taken at meetings and by written consents in lieu of meetings of the shareholders, the boards of directors and committees of the boards of directors of the Company and the Related Entity. The records of the Company and
the Related Entity as made available to the Purchaser prior to the Effective Date accurately reflect all record transfers prior to such date in the registered capital of the Company and the Related Entity, except as those maintained by the
Company’s registration agent or the relevant Government and Regulatory Authorities. 

  

	3.22	Absence of Changes. 

 From January 1, 2007 to
the Effective Date, except as set forth in Section 3.22 of the Disclosure Schedule there has not been any change in the Business or Condition of the Company that would result in a Material Adverse Effect and each of the Company and the
Related Entity has been conducting its business only in the ordinary course and in a manner consistent with past practice. Without limiting the generality of the foregoing, from January 1, 2007 to the Effective Date, neither the Company nor the
Related Entity has: 
  

	 	(a)	amended, terminated, canceled or compromised any material claims of, or waive any other rights of substantial value to, the Company or the Related Entity; 

 

	 	(b)	sold, transferred, leased, subleased, licensed or otherwise disposed of any properties or assets, real, personal or mixed, with a value in excess of US$20,000 individually or
US$50,000 in the aggregate (including, without limitation, leasehold interests and intangible property); 

  

	 	(c)	issued or sold any share capital, equity interests, notes, bonds or other securities, or any option, warrant or other right to acquire the same, of the Company or the Related
Entity; 

  

	 	(d)	made any capital expenditure or commitment for any capital expenditure in excess of US$50,000 individually or US$100,000 in the aggregate; 

  

	 	(e)	incurred any Indebtedness in excess of US$50,000 individually or US$100,000 in the aggregate outside the ordinary course of business and not consistent with past practices;

  

	 	(f)	granted any increase, or announce any increase, in the wages and salaries payable by the Company or the Related Entity to any of its employees in excess of 5% of the wage and
salaries; 

  

 23 

	 	(g)	amended, modified or consented to the termination of any Material Contract or the Company’s or the Related Entity’s rights thereunder; 

  

	 	(h)	amended or restated the Constitution of the Company or the Related Entity, or 

  

	 	(i)	changed content of the Books and Records in any material aspects 

  

	3.23.	Powers of Attorney. 

 There are no outstanding
powers of attorney executed on behalf of the Company or any Related Entity or comparable delegations of authority outstanding. 
  

	3.24	[Intentionally Deleted.] 

  

	3.25	[Intentionally Deleted.] 

  

	3.26	Related Party Transactions. 

 Other than the Debt,
the Remaining Optic Debt and the receivables and payables incurred in the ordinary course of business on an arm’s-length basis, (i) there are no intercompany Liabilities between the Company or the Related Entity, on the one hand, and the
Seller, or officer, director, Affiliate or Associate of Seller or any Associate of any such officer, director or Affiliate (other than the Company or the Related Entity), on the other, (ii) neither Seller nor any such officer, director,
Affiliate or Associate provides or causes to be provided any assets, services or facilities to the Company or any Related Entity. All transactions engaged in by the Company or the Related Entity, the Seller and any Associate or Affiliate thereof,
was incurred or engaged in, as the case may be, on an arm’s-length basis. Since December 31, 2006, all settlements of intercompany Liabilities between the Company or the Related Entity, on the one hand, and the Seller or any officer,
director, Affiliate or Associate of the Seller, on the other, have been made, and all allocations of intercompany expenses have been applied, in the ordinary course of business consistent with past practice. 
  

	Section 4.	Representations and Warranties of the Purchaser. 

 The Purchaser represents and warrants to and for the benefit of the Seller the following: 
  

	4.01	Organization of the Purchaser 

 The Purchaser is a
corporation duly organized validly existing and in good standing under the laws of the British Virgin Islands and has all requisite power and authority to enter into and perform its obligations under this Agreement. Once executed by the Purchaser,
this Agreement and the Transaction Documents required to be executed by the Purchaser have been duly and validly executed and delivered by the Purchaser and when duly executed will constitute a legal, valid and binding obligation of the Purchaser
enforceable against such Purchaser subject to bankruptcy, reorganization, insolvency, moratorium, restructuring or similar laws of general applicability relating to or affecting creditors’ rights generally and to general principles of equity.

  

	4.02	No Conflicts. 

 The execution and delivery by the
Purchaser of this Agreement, and the performance by the Purchaser of its agreements and obligation contemplated hereunder and thereunder will not, (i) conflict with any of, or require the consent of any Person under, the terms, conditions or
provisions of the organizational documents of the Purchaser; (ii) violate any provisions of 

  

 24 

 
applicable Law, or require any consent of any Governmental Authority having jurisdiction over the Purchaser, or any of its Affiliates; (iii) conflict in
any way with, result in a beach of, constitute a default under (whether with the giving of notice or the lapse of time or both), or accelerate or permit the acceleration of the performance required by, or require any consent under, any indenture,
mortgage, lien, lease agreement or instrument to which the Purchaser is a party or by which it is bound or to which any of its property is subject or (iv) result in the creation of any Lien upon the assets of the Purchaser under any such
indenture, mortgage, lien, lease, agreement or instrument, which failure to obtain such consent, or which violation, conflict, breach or default with respect to the matters specified in clauses (iii) through (iv) of this Section 4.02
would materially and adversely affect the ability of the Purchaser to perform its obligations under, or prevent, prohibit or enjoin the consummation of the transactions contemplated by this Agreement. 
  

	4.03	Litigation. 

 There are no claims, actions, suits,
proceedings or orders pending or, to the Purchaser’s knowledge, threatened against or affecting the Purchaser or its assets or properties, at law or in equity, before or by any Governmental Authority that would reasonably be expected to
materially delay or impair the ability of the Purchaser to consummate the transactions contemplated hereby, and the Purchaser is not subject to any material order, writ, injunction, judgment or decree of any court or any Governmental Authority
rendered against the Purchaser. 
  

	4.04	Authority. 

 The Purchaser has full legal capacity,
power and authority to enter into, execute and deliver this Agreement and, where applicable, the Transaction Documents to which it is a party, and to perform each of its obligations hereunder, thereunder and under each of the other documents
required to be entered into pursuant hereto. This Agreement and each applicable Transaction Document to which the Purchaser is a party have been duly and validly executed and delivered by the Purchaser and will constitute a legal, valid and binding
obligation of the Purchaser and/or CDC enforceable against them in accordance with its terms subject to bankruptcy, reorganization, insolvency, moratorium, restructuring or similar laws of general applicability relating to or affecting
creditors’ rights generally and to general principles of equity. No meeting has been convened or resolution proposed, or petition presented, and no order has been made, for the winding-up of the Purchaser. No voluntary arrangement has been
proposed or reached with any creditors of the Purchaser. The Purchaser is able to pay its debts as and when they fall due and is solvent. 
  

	Section 5.	Covenants of the Seller. 

 The Seller covenants and
agrees with the Purchaser that, at all times from and after the Effective Date until the WOFE Closing (for covenants in relation to the Company) and the Optic Closing (for covenants in relation to the Related Entity) and, with respect to any
covenant, agreement or appointment by its terms to be performed in whole or in part after the relevant Closing, for the period specified herein, the Seller will comply, cause the Company and procure the Related Entity (as the case may be) to comply
with all covenants and provisions of this Section, except to the extent the Purchaser otherwise consent in writing: 
 Access to
Information. 
  

	5.01	 The Company and the Related Entity (as the case may be) shall cause its officers, directors, employees, agents and representatives to (a) provide the Purchaser
and its officers, 

  

 25 

	 	 
directors, employees, agents, counsel, accountants, financial advisors, consultants and other representatives (together “Representatives”)
with full access, upon reasonable prior notice and during normal business hours, to all officers, directors, employees, agents, accountants, customers and suppliers of the Company and the Related Entity (as the case may be) and their Assets and
Books and Records, and (b) furnish the Purchaser and such other Persons with all such information and data (including without limitation copies of Material Contracts, Benefit Plans, Constitutions and Records) concerning the business and
operations of the Company and the Related Entity as the Purchaser or any of such other Persons may reasonably request. The Purchaser shall be responsible for all reasonable costs and expenses incurred in connection with such investigation.

  

	5.02	Fulfillment of Conditions. 

 The Seller, the Company
and the Related Entity (as the case may be) will execute and deliver at the Closing each instrument that such Seller, or the Company or the Related Entity (as the case may be) is required to execute and deliver hereunder as a condition to the
Closing, shall take all commercially reasonable steps necessary or desirable and proceed diligently and in good faith to satisfy all other conditions to the obligations of the Purchaser contained in this Agreement and shall not permit the Company or
the Related Entity (as the case may be) to take, or fail to take, any action that could reasonably be expected to result in the non-fulfillment of any such condition. Without limiting the generality of the foregoing, the Seller shall not take or
omit to take any reasonable action, or permit such action or omission if it reasonably can be expected that as a result of such action or omission, any representation or warranty made by the Seller shall not be true and correct in all respects at
and as of the Closing Date as if made on that date. 
  

	5.03	Notice and Cure. 

 The Seller shall notify the
Purchaser promptly in writing of, and contemporaneously, shall provide true copies of all material information or documents relating to, and will use all commercially reasonable efforts to cure before the relevant Closing, any event, transaction or
circumstance occurring after the Effective Date that causes or shall cause any covenant or agreement of the Seller under this Agreement to be breached or that renders or shall render untrue any representation or warranty of such party contained in
this Agreement as if the same were made on or as of the date of such event, transaction or circumstance. At any time until the relevant Closing, the Seller shall notify the Purchaser promptly in writing of, and shall use all commercially reasonable
efforts to cure, before the relevant Closing, any violation or breach of any representation, warranty, covenant or agreement made by such party in this Agreement, whether occurring or arising before, on or after the Effective Date. No notice given
pursuant to this Section 5.03 shall have any effect on the representations, warranties, covenants or agreements contained in this Agreement for purposes of determining satisfaction of any condition contained herein or shall in any way limit the
right of the Purchaser to seek indemnity under this Agreement. 
  

	5.04	Conduct of Business in Ordinary Course. 

 The Seller
will cause the Company and the Related Entity (as the case may be) not to, take any actions inconsistent with Section 3.22 or which will lead to a Material Adverse Effect occurring. With the exception of the provisions set forth in this
Agreement and the transactions contemplated hereby, the Seller shall cause the Company and the Related Entity (as the case may be) to carry on its business in the ordinary course in substantially the same manner as heretofore conducted and, to the
extent consistent with such business, use efforts consistent with past practice and policies to preserve intact their respective present business organization, keep available the services of their respective present officers, consultants and
employees and preserve their relationships with customers, 

  

 26 

 
suppliers and distributors and others having business dealings with them. The Seller shall cause the officers of the Company and the Related Entity (as the
case may be) to confer at such times as the Purchaser may reasonably request with representatives of the Purchaser to report operational matters of a material nature and to report the general status of the ongoing operations of the business of the
Company and the Related Entity (as the case maybe). 
  

	5.05	Indebtedness. 

 Save for the receivables and
payables incurred in the ordinary course of business of the Company and the Related Entity (as the case may be), the Seller shall cause the Company or procure the Related Entity (as the case may be) to refrain from: (a) incurring any
Indebtedness in excess of US$50,000 in aggregate; and (b) causing any existing debt facility to be drawn down in excess of US$50,000 in aggregate, unless prior written consent of the Purchaser is obtained. 
  

	5.06	Regulatory and Other Approvals. 

 The Seller will,
and will cause the Company and the Related Entity (as the case may be) to (a) take all commercially reasonable steps necessary or desirable, and proceed diligently and in good faith, as promptly as practicable to obtain all consents, approvals
or actions of, to make all filings with and to give all notices to Governmental or Regulatory Authorities or any other Person required of Seller, the Company, or the Related Entity (as the case may be) to consummate the transactions contemplated
hereby and by the Transaction Documents; (b) provide such other information and communications to such Governmental or Regulatory Authorities or other Persons as Purchaser or such Governmental or Regulatory Authorities or other Persons may
reasonably request for the purposes of giving effect to the transactions contemplated under the Transaction Documents; (c) cooperate with the Purchaser as promptly as practicable in obtaining all consents, approvals or actions of, making all
filings with and giving all notices to Governmental or Regulatory Authorities or other Persons required of the Purchaser to consummate the transactions contemplated hereby and by the Transaction Documents; and (d) execute all documents, papers,
forms, authorizations, declarations or oaths required of the Seller, the Company, or the Related Entity to consummate the transactions contemplated hereby and by the Transaction Documents. The Seller will provide prompt notification to the Purchaser
when any such consent, approval, action, filing or notice referred to in clause (a) above is obtained, taken, made or given, as applicable, and will advise the Purchaser of any communications (and, unless precluded by Law, provide copies of any
such communications that are in writing) with any Governmental or Regulatory Authority or other Person regarding any of the transactions contemplated by this Agreement or any of the Transaction Documents. The Seller shall not be held liable for not
completing the transactions contemplated under the Transaction Documents if the nominees so nominated by the Purchaser is not qualified as an eligible person to succeed the Business and government permits under law and regulations in PRC. For
avoidance of doubt, the Purchaser has the obligations to procure persons or nominees which are qualified as eligible persons to succeed the Business and government permits under law and regulations in PRC. 
  

	5.07	Insurance. 

 The Seller will procure the Company and
the Related Entity (as the case may be) to maintain in force up to the relevant Closing Date policies of insurance of the same character and coverage as those described in Section 3.20 of the Disclosure Schedule, and the Seller will
promptly notify the Purchaser in writing of any changes in such insurance coverage occurring prior to the relevant Closing Date. 
  

 27 

	5.08	No Solicitation. 

 The Seller will not take, nor
will it permit the Company or any Affiliate of the Seller to take, between the Effective Date and the relevant Closing, directly or indirectly, any action to initiate, assist, solicit, receive, negotiate, encourage or accept any offer or inquiry
from any Person (a) to engage in any Business Combination with the Company or the Related Entity (as the case may be); (b) to reach any agreement or understanding (whether or not such agreement or understanding is absolute, revocable,
contingent or conditional) for, or otherwise attempt to consummate, any Business Combination with the Company or the Related Entity (as the case may be); or (c) to furnish or cause to be furnished any information with respect to the Company or
the Related Entity (as the case may be) to any Person (other than as contemplated by Section 5.02) who the Seller, the Company or any Related Entity (as the case may be) or such Affiliate (or any such Person acting for or on their behalf) knows
or has reason to believe is in the process of considering any Business Combination with the Company or the Related Entity (as the case may be). 
  

	5.09	Employee Matters. 

  

	 	(a)	Unless the Purchaser’s prior consent is obtained, effective from the Effective Date until the relevant Closing, except as may be required by Law or with prior agreement with
the Purchaser, the Seller will refrain, and will cause the Company and procure the Related Entity (as the case may be) to refrain, from directly or indirectly: 

  

	 	(i)	making any representation or promise, oral or written, to any officer, employee or consultant of the Company or any Related Entity concerning any Benefit Plan, except for statements
as to the rights or accrued benefits of any officer, employee or consultant under the terms of any existing Benefit Plan; 

  

	 	(ii)	making any material increase in the salary, wages or other compensation of any officer, employee or consultant of the Company or any Related Entity; 

  

	 	(iii)	adopting, entering into, amending, modifying or terminating (partially or completely) any Benefit Plan except to the extent required by applicable Law and, in the event compliance
with legal requirements presents options, only to the extent that the option which the Company or any Related Entity reasonably believes to be the least costly is chosen; 

  

	 	(iv)	establishing or modifying any (i) targets, goals, pools or similar provisions in respect of any fiscal year under any Benefit Plan, employment contract or other employee
compensation arrangement or (ii) salary ranges, increase guidelines or similar provisions in respect of any Benefit Plan, employment contract or other employee compensation arrangement; or 

  

	 	(v)	entering into, amending, modifying or terminating (partially or completely), any employment contract that is, or had it been in existence on the date of this Agreement would have
been required to be, disclosed to the Purchaser; 

  

	 	(b)	 Prior to the relevant Closing, the Seller will cause the Company and procure the 

  

 28 

	 	 
Related Entity (as the case may be) to administer each Benefit Plan, or cause the same to be administered, in all material respects in accordance with
applicable Laws. The Seller will cause the Company and procure the Related Entity (as the case may be) to promptly notify Purchaser in writing of each receipt by the Company or any Related Entity (as the case may be), and furnish Purchaser with
copies of any notice of investigation or administrative proceeding involving any Benefit Plan. Prior to the relevant Closing, the Seller will cause the Company and procure the Related Entity (as the case may be) to provide for, or to pay, applicable
social and other employee benefits to applicable employees and consultants of the Company and the Related Entity(as the case may be) , in the manner as required by applicable Law. 

  

	5.10	[Intentionally Deleted.] 

  

	5.11	[Intentionally Deleted.] 

  

	5.12	[Intentionally Deleted.] 

  

	5.13	Dividends. 

 Prior to relevant Closing, the Seller
will not permit the Company to, and will procure the Related Entity (as the case may be) not to, declare or distribute dividends or profits of the Company or Related Entity (as the case may be). 
  

	5.14	HABBO 

 The Seller will procure (prior to the Optic
Closing) and cooperate with the Purchaser (after the Optic Closing) with the aim to complete the legal separation of the assets of HABBO from the Related Entity and/or the Business by August 23, 2007 (or such other date mutually agreed to by
the Parties in writing) provided that Seller, the Related Entity and the Company (as the case may be) will have made all necessary provisions, write-offs or accruals related to the disposal of HABBO prior to the Optic Closing. Any proceeds received
by the Related Entity upon legal separation of HABBO assets shall be for the account of the Seller or its nominees. The Seller undertakes to indemnify the Purchaser against any liability incurred by HABBO prior to the legal separation of its assets
from the Related Entity and/or the Business. 
  

	5.15	[Intentionally Deleted.] 

  

	Section 6.	Covenants of the Purchaser.  

  

	6.01	Notice and Cure. 

 From and after the Effective Date
until the WOFE Closing and the Optic Closing, whichever is later, the Purchaser shall notify the Company in writing of, and contemporaneously, shall provide true and complete copies of any and all information or documents relating to, and will use
all commercially reasonable efforts to cure before the WOFE Closing and the Optic Closing, whichever is later, any event, transaction or circumstance occurring after the Effective Date that causes or shall cause any covenant or agreement of the
Purchaser under this Agreement to be breached or that renders or shall render untrue any representation or warranty of such party contained in this Agreement as if the same were made on or as of the date of such event, transaction or circumstance.
The Purchaser shall notify the Company promptly in writing of, and shall use all commercially reasonable efforts to cure, before the WOFE Closing and the Optic Closing, whichever is later, any violation or breach of any representation, warranty,
covenant or 

  

 29 

 
agreement made by such party in this Agreement, whether occurring or arising before, on or after the Effective Date. No notice given pursuant to this
Section 6.01 shall have any effect on the representations, warranties, covenants or agreements contained in this Agreement for purposes of determining satisfaction of any condition contained herein or shall in any way limit the right of the
Company or the Sellers to seek indemnity under this Agreement. 
  

	6.02	Fulfillment of Conditions. 

 From and after the
Effective Date until the WOFE Closing and the Optic Closing, whichever is later, the Purchaser will execute and deliver at the WOFE and the Optic Closing (as the case may be) each instrument that the Purchaser is required to execute and deliver as a
condition to the WOFE and Optic Closing (as the case may be), shall take all commercially reasonable steps necessary or desirable and proceed diligently and in good faith to satisfy all other conditions to the obligations of the Seller and the
Company contained in this Agreement and shall not permit the Company to take, or fail to take, any action that could reasonably be expected to result in the non-fulfillment of any such condition. 
  

	6.03	Regulatory and Other Approvals. 

 The Purchaser will
(a) take all commercially reasonable steps necessary or desirable, and proceed diligently and in good faith, as promptly as practicable to obtain all consents, approvals or actions of, to make all filings with and to give all notices to
Governmental or Regulatory Authorities or any other Person required of Purchaser to consummate the transactions contemplated hereby and by the Transaction Documents; (b) provide such other information and communications to such Governmental or
Regulatory Authorities or other Persons as a designated Seller or such Governmental or Regulatory Authorities or other Persons may reasonably request; (c) cooperate with the Seller as promptly as practicable in obtaining all consents, approvals
or actions of, making all filings with and giving all notices to Governmental or Regulatory Authorities or other Persons required of Seller to consummate the transactions contemplated hereby and by the Transaction Documents; and (d) execute all
documents, papers, forms, authorizations, declarations or oaths required of Purchaser to consummate the transactions contemplated hereby and by the Transaction Documents. The Purchaser will provide prompt notification to a designated Seller when any
such consent, approval, action, filing or notice referred to in clause (a) above is obtained, taken, made or given, as applicable, and will advise a designated Seller of any communications (and, unless precluded by Law, provide copies of any
such communications that are in writing) with any Governmental or Regulatory Authority or other Person regarding any of the transactions contemplated by this Agreement or any of the Transaction Documents. 
  

	6.04	Guarantee 

  

	 	(a)	 In consideration of the Seller agreeing to sell the Equity Interest, procure the transfer of the Related Entity Equity Interest and assign the Remaining Optic Debt
to the Purchaser on the terms set out in the Equity Transfer Agreement, the Related Entity Equity Transfer Agreement and the Assignment of the Remaining Optic Debt, respectively, CDC unconditionally and irrevocably guarantees to the Seller the due
and punctual discharge by the Purchaser of all of its obligations of whatever nature (which shall, for the avoidance of doubt, include its liabilities to pay damages and satisfy any indemnity, agreed or otherwise) under this Agreement and the other
Transaction Documents to which the Purchaser is a party (the “Guaranteed Obligations”) and promises to pay on demand each sum (including any interest charges thereon up to and 

  

 30 

	 	 
including such charges arising from the date of demand hereof until the date of payment hereunder) which the Purchaser is liable to pay under this Agreement
and the other Transaction Documents to which the Purchaser is a party. 

  

	 	(b)	Without prejudice to the rights of the Seller against the Purchaser as primary obligor, CDC shall be deemed a principal debtor in respect of its obligations under this Agreement and
not merely a surety and accordingly CDC shall not be discharged nor shall its liability hereunder be affected by any act or thing or means whatsoever by which its said liability would not have been discharged if it had been a primary debtor.

  

	 	(c)	CDC’s obligations shall be a continuing guarantee. The Seller may make claims and demands of CDC without limit of number. 

  

	 	(d)	CDC’s obligations shall be in addition to and not in substitution for, and shall not be prejudiced by, any rights which the Seller may have pursuant to any other agreement or
security which the Seller may enter into or obtain in relation to this Agreement and the other Transaction Documents to which the Purchaser is a party or the Guaranteed Obligations, and CDC’s obligations may be enforced against it without first
having recourse to any such rights or security. 

  

	6A.	Covenants of Purchaser and Seller 

  

	6A.01	Financial Statements 

 Prior to the WOFE and the
Optic Closing, whichever is later, the Purchaser at its own expenses will engage KPMG to reconcile the 2005 Financial Statements and 2006 Financial Statements to US GAAP. The Purchaser and the Seller will, and the Seller will cause the Company and
procure the Related Entity to, assist KPMG and provide KPMG with all information it deems necessary to prepare the financial statements. 
  

	6A.02	Assignment of Licenses 

 From the Effective Date,
the Seller will use its best reasonable commercial efforts, and procure the Related Entity to use its best reasonable commercial efforts, to assist the Purchaser in obtaining the assignment of all licenses covering the online games operated by the
Related Party, including but not limited to, the games Shaiya and Legend of Mir III, to the Company or to a wholly owned foreign enterprise designated by Purchaser. For the avoidance of doubt, the Seller shall not be obligated to cause the
assignment of the aforesaid licenses and would not accept any responsibility in relation thereto. 
  

	6A.03	Retention of Key Employees 

 Prior to the WOFE and
Optic Closing, whichever is later, the Seller and Purchaser will use their best efforts to retain key employees of the Business. 
  

	Section 7.	Conditions to Obligations of the Purchaser. 

 The obligations of the Purchaser under this Agreement are subject to the fulfillment, at or before the WOFE Closing and the Optic Closing (as the case may be) of each of the following conditions (all or any of which may be waived in whole
or in part by the Purchaser in its sole discretion): 
  

 31 

	7.01	Representations and Warranties. 

 The
representations and warranties made by the Seller in this Agreement and representations and warranties of the Seller, the Company or the Related Entity in the Transaction Documents shall be true and correct in all material respects in which they are
given as of the WOFE Closing Date (in respect of the Company at the WOFE Closing) and the Optic Closing Date (in respect of the Related Entity at the Optic Closing) and if specified on any other date, on such date. 
  

	7.02	Performance. 

 The Seller, the Company and the
Related Entity shall have performed and complied with, each agreement, covenant and obligation required by this Agreement and the Transaction Documents to be so performed or complied with by the Company, any Related Entity or the Seller at or before
the WOFE Closing (in respect of the Company at the WOFE Closing) and the Optic Closing (in respect of the Related Entity at the Optic Closing). 
  

	7.03	Renewal of Licence. 

 The licence for Mir III shall
have been renewed with Wemade Entertainment Co., Ltd. in respect of the Optic Closing. 
  

	7.04	[Intentionally Deleted.] 

  

	7.05	[Intentionally Deleted.] 

  

	7.06	Legal Action. 

 As of the Closing Date, the Seller
has not received any actual written threats or any action, proceeding or other application pending before any court or Governmental or Regulatory Authority brought by any Person or Governmental or Regulatory Authority which are not disclosed by the
Seller to the Purchaser on or prior to the Closing Date: (i) challenging or seeking to restrain or prohibit the consummation of the transactions contemplated by this Agreement, or seeking to obtain any material damages from any of the Parties
or their Affiliates as a result of such transactions; (ii) seeking to prohibit or impose any limitations on the Purchaser’s ownership or operation of all or any portion of the Equity Interest or the underlying assets of the Company, or to
compel the Purchaser to dispose of or hold separate all or any portion of the Equity Interest, or the Company’s business or assets as a result of the transactions contemplated by the Agreement, or to compel the Company to dispose of or hold
separate all or any portion of the Subsidiaries and or the Related Entity; or (iii) cause any of the transactions contemplated by this Agreement to be rescinded following consummation. 
  

	7.07	No Material Adverse Change. 

 From the Effective
Date to the WOFE Closing Date (in respect of the Company at WOFE Closing)and the Optic Closing Date (in respect of the Related Entity at the Optic Closing), there shall not have occurred any Material Adverse Effect on the Equity Interest, any of the
Assets or Business or Condition of the Company and the Related Entity as a whole. 
  

	7.08	Investment Certificates. 

 The Purchaser shall have
received an investment certificate showing the executed transfer of the Equity Interest in its favor. 
  

 32 

	7.09	[intentionally Deleted.] 

  

	7.10	Closing Documents. 

 Relevant closing documentation
as set out in Section 2.03A (for the WOFE Closing), 2.03B (for the Optic Closing) of this Agreement, and relevant Sections of the Equity Transfer Agreement, the Related Entity Equity Transfer Agreement and the Assignment of Remaining Optic Debt
must be received by the Purchaser or its Affiliates upon the WOFE Closing and the Optic Closing (as the case may be). 
  

	7.11	[Intentionally Deleted.] 

  

	7.12	[Intentionally Deleted.] 

  

	7.13	[Intentionally Deleted.] 

  

	7.14	Financial Statements. 

 The Seiler shall have
provided the Management Accounts of the Company and the Related Entity to the Purchaser upon the WOFE Closing and the Optic Closing (whichever is earlier). 
  

	7.15	Intra-company Debt. 

 her than the Remaining Optic
Debt, the Debt ,and the receivables and payables incurred in the ordinary course of business on an arms length basis, all debt obligations of the Related Party or any other entity that comprises the Business owed to the Seller or its Associates
shall have been forgiven, capitalized or assigned to the Purchaser. 
  

	Section 8.	Conditions to Obligations of the Seller and the Company. 

 The obligations of the Seller hereunder are subject to the fulfillment, at or before the WOFE Closing and the Optic Closing, whichever is later, of each of the following conditions (all or any of which may be waived
in whole or in part by the Seller in their sole discretion): 
  

	8.01	Representations and Warranties. 

 Each of the
representations and warranties made by the Purchaser and CDC shall be true and correct in all respects in which they are given on and as of the WOFE Closing Date and the Optic Closing Date as though such representation or warranty was made on and as
of the WOFE Closing Date and the Optic Closing Date, respectively. 
  

	8.02	Performance. 

 The Purchaser shall have performed
and complied with each agreement, covenant and obligation required by this Agreement to be so performed or complied with by such Purchaser at or before the WOFE Closing and the Optic Closing (as the case may be). 
  

	8.03	Consents and Approvals. 

 All consents, approvals
and actions of, filings with and notices to any third party Governmental or Regulatory Authority necessary to permit the Purchaser to perform its obligations under this Agreement and to consummate the transactions contemplated hereby and thereby
shall have been duly obtained, made or given, and shall be in full force and effect. 
  

 33 

	8.04	Approval of the Purchaser’s Board of Directors or Delegated Subcommittee. 

 The board of directors of the Purchaser or its delegated subcommittee shall have authorized and approved each of: (i) the terms and conditions of this Agreement and each Transaction Document; and (ii) the
execution and performance of this Agreement and each Transaction Document by a duly authorized officer or director of the Purchaser and the transactions contemplated herein and therein. 
  

	8.05	[Intentionally Deleted.] 

  

	Section 9.	Representations, Warranties and Indemnities. 

 Unless otherwise expressly provided for in this Agreement: 
  

	 	(a)	All representations and warranties in connection with the transactions contemplated by this Agreement or the Transaction Documents (the “Warranties”) shall survive
for one year from the WOFE Closing Date and the Optic Closing Date, whichever is earlier. 

  

	 	(b)	Each Party acknowledges that it has made and given the Warranties with the intention of inducing the other Parties to enter into this Agreement and the Purchaser has entered into
this Agreement in full reliance on the Warranties given hereunder. 

  

	 	(c)	Each of the Warranties shall be construed as a separate warranty. 

  

	 	(d)	The Seller or the Purchaser (as the case may be), shall indemnify the other party in respect of, and hold each of them harmless from and against, any and all Loss or liability
suffered, incurred or sustained by any of them, resulting from, arising out of or associated with any material misrepresentation, inaccuracy in or breach of any representation or warranty or the nonfulfillment of, or failure to perform, any covenant
or agreement contained in this Agreement or the Transaction Documents; or 

  

	 	(e)	The total liability of the Seller under this Agreement and other Transaction Documents shall not exceed the Consideration (less all reasonable costs and expenses incurred or to be
incurred by the Seller in connection with the transactions contemplated under the Transaction Documents). 

  

	 	(f)	The Seller shall have no liability under this Agreement and other Transaction Documents : 

  

	 	(i)	unless, in the case of any particular claim, the amount thereof shall exceed RMB200,000; or 

  

	 	(ii)	until the aggregate amount of all valid claims which could otherwise be made under this Agreement shall exceed RMBI,000,000 at which time all such valid claims shall become payable.

  

	 	(g)	If any claim for breach of Warranties is brought under this Agreement and other Transaction Documents in relation to any liability of the Seller, the Company or the Related Entity
which is contingent only, the Seller shall not be liable to make any payment in respect thereof until such contingent liability becomes an actual liability. 

  

 34 

	 	(h)	The Seller shall not be liable for breach of any Warranty to the extent that such liability arises by reason of any act or omission effected by the Purchaser or by reason of any
retrospective change in the law or practice of relevant tax authorities coming into force after the date hereof or to the extent such liability arises or is increased by an increase in rates of taxation after the date hereof with retrospective
effect. 

  

	 	(i)	To the extent that the Purchaser shall have been compensated in respect of any facts or circumstances for any breach of any of the Warranties or under any terms of this Agreement,
the Purchaser shall not be entitled to claim under any other of the Warranties or other term of this Agreement in respect of the same facts or circumstances. 

  

	 	(j)	If the Seller pays any amount to the Purchaser by way of damages for breach of the Warranties (a “Damages Payment”) and the Purchaser subsequently receives any amount (the
“Repaid Amount”) from any third party otherwise than from the Seller which payment would not have been received but for the circumstances giving rise to the claim in respect of which the Damages Payment was made, the Purchaser shall, once
it has received such amount, as soon as reasonably practicable repay to the Seller the Repaid Amount. 

  

	 	(k)	If the assignment of total debts in the aggregate amount of RMB193,983,973 in favour of the Creditor on or before the Optic Closing Date is rescindable under PRC law and the
creditor(s) of the such debts before this assignment formally registered a claim with PRC court against the Related Entity ( a “Registered Claim”), the Seller shall, within 5 Business Days after receiving a payment notice, pay the
Purchaser for the same amount claimed by the creditors under such Registered Claim. 

  

	 	(l)	Nothing in this clause restricts or limits any general obligation at law of each of the Seller and the Purchaser to mitigate any loss or damage which it may suffer or incur as a
consequence of any breach of any warranty. 

  

	Section 10.	[Intentionally Deleted.] 

  

	Section 11.	Termination 

  

	11.01	Termination. 

 This Agreement may be terminated, and
the transactions contemplated hereby may be abandoned at any time before the WOFE Closing and the Optic Closing (as the case may be), by the Seller or the Purchaser, in the event (i) of a material breach hereof by any non-terminating party if
such non-terminating party fails to cure such breach within twenty (20) Business Days following notification thereof by the terminating party or (ii) upon notice to the non-terminating party by the terminating party that the satisfaction
of any material condition to the terminating party’s obligations under this Agreement becomes impossible or impracticable with the use of commercially reasonable efforts if the failure of such condition to be satisfied is not caused by a
material breach hereof by the terminating party (but not otherwise). 
  

	11.02	Effect of Termination. 

 If this Agreement is
validly terminated pursuant to Section 11.01, this Agreement will forthwith become null and void, and there will be no liability or obligation on the part of the 

  

 35 

 
Seller or the Purchaser (or any of their respective officers, directors, employees, agents or other representatives or Affiliates), except that the
provisions with respect to the representations and warranties, and indemnities in Section 9, expenses in Section 12.02, and confidentiality in Section 12.12 shall continue to apply following any such termination. 
  

	Section 12.	Miscellaneous 

  

	12.01	Notices. 

  

	 	(a)	A notice (including any approval, consent or other communication) in connection with this Agreement and the documents referred to in it: 

 must be in writing; 
 must be left at the
address of the addressee or sent by pre-paid first class post (airmail if posted to or from a place outside Hong Kong) to the address of the addressee or sent by facsimile to the facsimile number of the addressee in each case which is specified in
this clause in relation to the party to whom the notice is addressed, and marked for the attention of the person so specified, or to such other address or facsimile number in Hong Kong and/or marked for the attention of such other person, as the
relevant party may from time to time specify by notice given in accordance with this clause. 
 The relevant details of each party at the
date of this Agreement are: 
  

			
	Seller	  	 
		
	Address:	  	32/F CITIC Tower, I Tim Mei Avenue, Central, Hong Kong
	Facsimile:	  	(852) 2918 4838
	Attention:	  	Stella Chan
		
	CDC	  	
		
	Address:	  	33/F, Citicorp Centre, 18 Whitfield Road, Causeway Bay, Hong Kong
	Facsimile:	  	(852) 2571 2552
	Attention:	  	Peter Yip
		
	Purchaser	  	
		
	Address:	  	33/F, Citicorp Centre, 18 Whitfield Road, Causeway Bay, Hong Kong
	Facsimile:	  	(852) 2571 2552
	Attention:	  	Peter Yip

  

	 	(iii)	for the avoidance of doubt, must not be sent by electronic mail. 

  

	 	(b)	In the absence of evidence of earlier receipt, any notice shall take effect from the time that it is deemed to be received in accordance with clause (c) below.

  

	 	(c)	Subject to clause (d) below, a notice is deemed to be received: 

  

	 	(i)	in the case of a notice left at the address of the addressee, upon delivery at that address; 

  

 36 

	 	(ii}	in the case of a posted letter, on the third day after posting or, if posted to or from a place outside Hong Kong, the seventh day after posting; and 

  

	 	(iii)	in the case of a facsimile, on production of a transmission report from the machine from which the facsimile was sent which indicates that the facsimile was sent in its entirety to
the facsimile number of the recipient. 

  

	 	(d)	A notice received or deemed to be received in accordance with clause (c) above on a day which is not a Business Day or after 5p.m. on any Business Day, according to local time
in the place of receipt, shall be deemed to be received on the next following Business Day. 

  

	 	(e)	Each party undertakes to notify the other parties by notice served in accordance with this clause if the address specified herein is no longer an appropriate address for the service
of notices. 

  

	12.02	Expenses. 

 The Parties shall pay for their own
costs and expenses relating to the negotiation, execution and closing of this Agreement and the Transaction Documents and the transactions contemplated hereby. 
  

	12.03	[Intentionally Deleted] 

  

	12.04	Waiver. 

 Any term or condition of this Agreement
may be waived at any time by the party that is entitled to the benefit thereof, but no such waiver shall be effective unless set forth in a written instrument duly executed by or on behalf of the party waiving such term or condition. No waiver by
any party of any term or condition of this Agreement, in any one or more instances, shall be deemed to be or construed as a waiver of the same or any other term or condition of this Agreement on any future occasion. 
  

	12.05	Amendment. 

 This Agreement may be amended,
supplemented or modified only by a written instrument duly executed by or on behalf of each party hereto. 
  

	12.06	No Third Party Beneficiary. 

 The terms and
provisions of this Agreement are intended solely for the benefit of each party hereto and their respective successors or permitted assigns, and it is not the intention of the parties to confer third-party beneficiary rights upon any other Person
other than any Person entitled to indemnity under Section 9. 
  

	12.07	Assignment; Binding Effect. 

 Subject always to the
subsequent sentence, neither this Agreement nor any right, interest or obligation hereunder may be assigned by any party hereto without the prior written consent of the other party hereto and any attempt to do so will be void, except for assignments
and transfers by operation of Law and except where the Purchaser transfers or assigns this Agreement or its rights and obligations under this Agreement to its subsidiary or affiliated company or to an entity within the group of CDC. At any time
after the execution of this Agreement, the Purchaser may assign any or all of its rights, interests and obligations 

  

 37 

 
hereunder (including without limitation its rights under Section 9) provided that, each such assignee agrees in writing to be bound by all of the terms,
conditions and provisions contained herein. Subject to the preceding sentence, this Agreement is binding upon, inures to the benefit of and is enforceable by the parties hereto and their respective successors and assigns. 
  

	12.08	Invalid Provisions. 

 If any provision of this
Agreement is held to be illegal, invalid or unenforceable under any present or future Law, and if the rights or obligations of any party hereto under this Agreement will not be materially and adversely affected thereby: (a) such provision will
be fully severable; (b) the remaining provisions of this Agreement will remain in full force and effect and will not be affected by the illegal, invalid or unenforceable provision or by its severance herefrom; and (c) in lieu of such
illegal, invalid or unenforceable provision, there will be added automatically as a part of this Agreement a legal, valid and enforceable provision as similar in terms to such illegal, invalid or unenforceable provision as may be possible.

  

	I2.08A	Set-off. 

 All amounts due under this Agreement and
other Transaction Documents by either party shall be paid in full on the due date (without any restriction, condition, deduction or withholding, except as required by law for any taxation) and neither party shall be entitled to assert any credit,
set-off, counterclaim or similar claim against the other party in order to justify withholding part or all of such amount. 
  

	12.09	Governing Law. 

  

	 	(a)	This Agreement shall be governed by and construed in accordance with the laws of Hong Kong, SAR without giving effect to the conflicts of laws principles thereof.

  

	 	(b)	Each party submits to the non-exclusive jurisdiction of the courts of Hong Kong for all purposes relating to this Agreement. Nothing contained in this clause shall limit the right
of any party to take proceedings against any other in any other court of competent jurisdiction, nor shall the taking of proceedings in one or more jurisdictions preclude the taking of proceedings in any other jurisdiction, whether concurrently or
not, to the extent permitted by the law of such other jurisdiction. 

  

	 	(c)	Each of the parties named below irrevocably appoint as its process agent the person named below to receive, for it and on its behalf, service of process in proceedings in Hong Kong:

  

			
	Seller:
	
	Process Agent: Stella Chan
		
	Address:	  	32/F CITIC Tower, I Tim Mei Avenue, Central, Hong Kong
	
	Purchaser / CDC:
	
	Process Agent: Peter Yip
		
	Address:	  	33/F, Citicorp Centre, 18 Whitfield Road, Causeway Bay, Hong Kong

  

 38 

 Such service shall be deemed completed on delivery to the process agent (whether or not it is forwarded
to and received by the relevant party). If for any reason the process agent ceases to be able to act as such or no longer has an address in Hong Kong, the relevant party irrevocably agrees to appoint a substitute process agent within 30 days.

  

	12.10	Arbitration. 

  

	 	(a)	Any dispute, controversy or claim arising out of or relating to this Agreement shall be resolved at the first instance through consultation between the highest ranking corporate
officers of the relevant Parties. Such consultation shall begin immediately after one Party has delivered to the other Parties a written request for such consultation. If, within thirty (30) days following the date on which such notice is
given, the dispute cannot be resolved, the dispute shall be submitted to arbitration upon the request of any Party to the dispute with notice to the other Parties. 

  

	 	(b)	Any dispute, controversy or claim arising out of or relating to this contract, or the breach termination or invalidity thereof, shall be settled by arbitration in accordance with
the UNCITRAL Arbitration Rules as at present in force and as may be amended by the rest of this clause. 

  

	 	(c)	The appointing authority shall be Hong Kong International Arbitration Centre. 

  

	 	(d)	The place of arbitration shall be in Hong Kong at Hong Kong International Arbitration Centre (HKIAC). 

  

	 	(e)	There shall be only one arbitrator. 

  

	 	(f)	The arbitration proceedings shall be conducted in English and Chinese. 

  

	 	(g)	Each Party to an arbitration hereunder shall cooperate with the other in making full disclosure of and providing complete access to all information and documents requested by the
other in connection with such arbitration proceedings, subject only to any confidentiality obligations binding on such Party. 

  

	 	(h)	The award of the arbitration tribunal shall be final and binding upon the disputing Parties, and the prevailing Party may apply to a court of competent jurisdiction for enforcement
of such award. 

  

	 	(i)	Any Party to the dispute shall be entitled to seek preliminary injunctive relief, if possible, from any court of competent jurisdiction pending the constitution of the arbitral
tribunal. 

  

	12.11	Counterparts. 

 This Agreement may be executed in
any number of counterparts, each of which will be deemed an original, but all of which together will constitute one and the same instrument. 
  

	12.12	Confidentiality. 

 Each party hereto will hold, and
will use its reasonable endeavors to cause its Affiliates to hold, in strict confidence from any Person (other than any such Affiliate, unless: (i) compelled to disclose by judicial or administrative process (including without limitation

  

 39 

 
in connection with obtaining the necessary approvals of this Agreement and the transactions contemplated hereby of Governmental or Regulatory Authorities) or
by other requirements of Law; or (ii) disclosed in any action, suit, proceeding, inquiry, investigation either before or brought by Governmental or Regulatory Authority or otherwise, brought by a party hereto in pursuit of its rights or in the
exercise of its remedies hereunder, all documents and information concerning the other party or any of its Affiliates furnished to it by the other party in connection with this Agreement or the transactions contemplated hereby, including, without
limitation, the terms and conditions of this Agreement except to the extent that such documents or information can be shown to have been: (a) previously known by the party receiving such documents or information; (b) in the public domain
(either prior to or after the furnishing of such documents or information hereunder) through no fault of such receiving party; or (c) later acquired by the receiving party from another source if the receiving party is not aware that such source
is under an obligation to another party hereto to keep such documents and information confidential. In the event the transactions contemplated hereby are not consummated, upon the request of the other party, each party hereto shall, and shall cause
its Affiliates to, promptly redeliver or cause to be redelivered all copies of documents and information furnished by the other party in connection with this Agreement or the transactions contemplated hereby and destroy or cause to be destroyed all
notes, memoranda, summaries, analyses, compilations and other writings related thereto or based thereon prepared by the party furnished such documents and information. 
  

	12.13	Exercise of Rights. 

 A party may exercise a right,
power or remedy at its discretion, and separately or concurrently with another right, power or remedy. A single or partial exercise of a right, power or remedy by a party does not prevent a further exercise of that or of any other right, power or
remedy. Failure by a party to exercise or delay in exercising a right, power or remedy does not prevent its exercise. The rights, powers and remedies provided in this Agreement are cumulative with and not exclusive of the rights, powers or remedies
provided by law independently of this Agreement. 
  

	12.14	Rule of Construction. 

 As each of the parties has
reviewed this Agreement and has had the opportunity to make revisions, the parties agree that any rule of construction to the effect that any ambiguities are to be construed against the drafting party shall not apply in the interpretation of this
Agreement or any of the Transaction Documents. 
  

	12.15	Further Assurances. 

 Each party agrees, at its own
expense, on the request of any other party, to do everything reasonably necessary to give effect to this Agreement and the transactions contemplated by it (including, without limitation, the execution of documents) and to use all reasonable
endeavours to cause relevant third parties to do likewise. 
  

 40 

 IN WITNESS WHEREOF, this Agreement has been duly executed and delivered by the duly authorized officer of each party
hereto, and shall be effective as of the date first above written 
  

					
	 SIGNED for and on behalf of
 BONARICH ENTERPRISES
 LTD in the presence of:
	  	) ) )	  	

			
	 SIGNED for and on behalf
 of CDC CORPORATION
 in the presence of:
	  	) ) )	  	

			
	 SIGNED for and on behalf of
 in the presence of:Asset Purchase Agreement

 Exhibit 4(a).18 
 Execution Copy 
 DATED 1 August, 2007 
 ASSETS PURCHASE AGREEMENT 
 By and
Among 
 CHINADOTCOM STRATEGIC, INC. 
 CDC SOFTWARE CORPORATION 
 and 
 CARAT KOREA CO., LTD. 
 Jones Day 
 Solicitors and International Lawyers 
 29th Floor, Edinburgh Tower 
 The Landmark 
 15 Queen’s Road Central 
 Hong Kong 
 Telephone No.: (852) 2526-6895

 CAM No.:113437-615014 
  

 TABLE OF CONTENTS 
  

					
	 Clause
	  	 	  	Page
	1.	  	INTERPRETATION	  	1
			
	2.	  	SALE AND PURCHASE OF PURCHASED ASSETS	  	6
			
	3.	  	PURCHASE PRICE	  	8
			
	4.	  	CONDITIONS	  	9
			
	5.	  	ACTION PENDING CLOSING	  	12
			
	6.	  	CLOSING	  	12
			
	7.	  	ASSIGNMENT OF CONTRACTS AND INTELLECTUAL PROPERTY RIGHTS	  	14
			
	8.	  	WARRANTIES BY SELLER AND CDC	  	16
			
	9.	  	INDEMNIFICATION – GENERAL AND TAX	  	21
			
	10.	  	BUYER’S RIGHTS	  	25
			
	11.	  	GUARANTEE AND INDEMNITY BY CDC	  	25
			
	12.	  	WARRANTIES BY BUYER	  	26
			
	13.	  	MISCELLANEOUS	  	28
			
	14.	  	CONFIDENTIALITY OF INFORMATION RECEIVED	  	29
			
	15.	  	COSTS	  	29
			
	16.	  	NOTICES	  	29
			
	17.	  	GOVERNING LAW AND ARBITRATION	  	31

  

 i 

 THIS AGREEMENT is made on 1 August, 2007 
 BY AND AMONG: 
  

	(1)	CHINADOTCOM STRATEGIC, INC., a company incorporated under the laws of British Virgin Islands with its registered office as at the date hereof at Offshore Incorporations
Limited, P.O. Box 957, Offshore Incorporation Centre, Road Town, Tortola, British Virgin Islands (the “Seller”); 

  

	(2)	CDC SOFTWARE CORPORATION, a company incorporated under the laws of the Cayman Islands with its registered office as at the date hereof at P. O. Box 309GT, Ugland House, South
Church Street, George Town, Grand Cayman, Cayman Islands (“CDC”); and 

  

	 (3)
	 CARAT KOREA CO LTD., a company incorporated under the laws of The Republic of Korea with its registered office as
at the date hereof at 5th Floor Dongnam Building, 997-11 Daechi-Dong, Gangnam-Gu, Seoul, The Republic of Korea (the “Buyer”).

 RECITALS: 
  

	A.	The Seller is the legal and beneficial owner of the Purchased Assets (as hereinafter defined). 

  

	B.	The Seller has agreed to sell and the Buyer has agreed to purchase the Purchased Assets on the terms and conditions hereinafter contained. 

  

	C.	CDC is the Affiliate of the Seller and has agreed to guarantee the performance of the Seller’s obligations hereunder set forth in Clause 11. 

 IT IS AGREED as follows: 
  

	1.	INTERPRETATION 

  

	1.1	In this Agreement and in the Schedules, the following definitions are used: 

  

			
	 “Acquisition Agreements”
	  	means (i) the assets purchase agreement dated the date of this Agreement and made by and among Ion Global Limited, CDC and wwwins Consulting Hong Kong Limited; (ii) the assets purchase
agreement dated the date of this Agreement and made by and among Ion Global (California), Inc., CDC and Molecular, Inc.; and (iii) the share purchase agreement dated the date of this Agreement and made by and among Ion Global (BVI) Ltd., CDC and
Group Carat (Nederland) BV.
		
	 “Aegis Group”
	  	means the group of companies comprising the Aegis Group plc and its subsidiaries. The expression “member of the Aegis Group” shall be construed accordingly.

  

 1 

			
		
	 “Affiliates”
	  	in respect of any specified person or entity, means a person that directly or indirectly controls, is controlled by or is under common control with such specified person or entity or with
which such specified person or entity may be connected or may become connected as an officer, director, executive, principal, agent, representative, consultant or otherwise.
		
	 “Agreed Form”
	  	means, in relation to any document, such document in the terms agreed between the parties and signed by or on behalf of them for the purposes of identification.
		
	 “Agreement”
	  	has the meaning ascribed to such term in the heading of this Agreement.
		
	 “Business Day”
	  	means a day (not being a Saturday) on which banks are open for general banking business in Korea.
		
	 “Buyer”
	  	has the meaning ascribed to such term in the heading of this Agreement.
		
	 “Buyer Disclosure Letter”
	  	means the letter of even date herewith by the Buyer to the Seller (and acknowledged by the Seller) on the execution and delivery of this Agreement.
		
	 “Buyer Indemnified Persons”
	  	has the meaning set forth in Clause 9.1.2.
		
	 “Buyer Warranties”
	  	has the meaning set forth in Clause 12.1.
		
	 “Claim”
	  	means any claim, demand, dispute, action, suit, investigation or legal or analogous proceedings.
		
	 “Closing”
	  	means the completion of the purchase by the Buyer from the Seller of the Purchased Assets in accordance with Clause 6.
		
	 “Closing Date”
	  	means 11 September, 2007 or such other date as is determined by the Seller and Buyer.
		
	 “Companies Ordinance”
	  	means the Companies Ordinance, Chapter 32 of the laws of Hong Kong.
		
	 “control”
	  	means, in relation to any person at any time, the power (whether directly or indirectly and whether by ownership of share capital,

  

 2 

			
		  	possession of voting power, contract or otherwise) to appoint the majority of the members of the governing body or management, or otherwise to control the affairs and policies of that other
person.
		
	 “Disclosed”
	  	means referred to in the Disclosure Letter or the Buyer Disclosure Letter (as the case may be).
		
	 “Disclosure Letter”
	  	means the letter of even date herewith by the Seller to the Buyer (and acknowledged by the Buyer) on the execution and delivery of this Agreement.
		
	 “Encumbrance”
	  	means any mortgage, charge (fixed or floating), pledge, lien, hypothecation, trust, right of set off or other third party right or interest (legal or equitable) including any right of
pre-emption, assignment by way of security, reservation of title or any other security interest of any kind however created or arising or any other agreement or arrangement (including a sale and repurchase arrangement) having similar
effect.
		
	 “General Event of Indemnification”
	  	has the meaning set forth in Clause 9.1.1(a).
		
	 “Hong Kong”
	  	means the Hong Kong Special Administrative Region of the PRC.
		
	 “ICC Rules”
	  	has the meaning set forth in Clause 17.2.1.
		
	 “Intellectual Property”
	  	means (a) all the trademarks, service marks, logos, trade names, Internet domain names and corporate names as listed in Part I of Schedule 1 including all translations, adaptations,
derivations and combinations thereof; (b) all registrations, applications and renewals for any of the foregoings; (c) all copies and tangible embodiments of the foregoing (in whatever form or medium); and (d) all goodwill associated with the
foregoing.
		
	 “Korea”
	  	means The Republic of Korea.
		
	 “Losses”
	  	means all losses, liabilities, costs (including, without limitation, reasonable attorney’s fees), charges and expenses.

  

 3 

			
		
	 “Payment Account Details”
	  	means, in relation to any payment to be made under or pursuant to this Agreement, the name, account number, account location and other details specified by the payee and necessary to effect
payment by wire transfer to the payee.
		
	 “Purchase Price”
	  	has the meaning set forth in Clause 3.1.
		
	 “Purchased Assets”
	  	has the meaning set forth in Clause 2.1 of this Agreement.
		
	 “Seller”
	  	has the meaning ascribed to such term in the heading of this Agreement.
		
	 “Seller Indemnified Persons”
	  	has the meaning set forth in Clause 9.1.2.
		
	 “Special Event of Indemnification”
	  	has the meaning set forth in Clause 9.1.1(b).
		
	 “Subsidiaries”
	  	means any Affiliate of a company whose shares of more than fifty percent (50%) are owned by such company.
		
	 “Tax Authority”
	  	means any local, municipal, governmental, state, federal or fiscal, revenue, customs or excise authority, body, agency or official anywhere in the world having or purporting to have power or
authority in relation to Tax, including without limitation the National Tax Service of The Republic of Korea.
		
	 “Tax Event”
	  	has the meaning set forth in Clause 9.2.1(a).
		
	 “Taxation” or “Tax”
	  	means all taxes, charges, duties, imposts, fees, levies or other assessments, and all estimated payments thereof, including without limitation income, business profits, branch profits,
excise, property, sales, use, value added (VAT), environmental, franchise, customs, import, payroll, transfer, gross receipts, withholding, social security, unemployment taxes, as well as stamp duties and other costs, imposed by any Tax Authority,
or any subdivision or agency thereof, and any interest and penalty relating to such taxes, charges, fees, levies or other assessments.
		
	 “US$”
	  	means the lawful currency of the United States of America.
		
	 “Warranties”
	  	has the meaning set forth in Clause 8.1.

  

 4 

	1.2	In this Agreement, words and expressions defined in the Companies Ordinance shall bear the same meaning as in that Ordinance. 

  

	1.3	In this Agreement, save where the context otherwise requires: 

  

	 	1.3.1	a reference to a statute or statutory provision shall include a reference: 

  

	 	(a)	to that statute or provision as from time to time consolidated, modified, re-enacted or replaced by any statute or statutory provision; and 

  

	 	(b)	any subordinate legislation made under the relevant statute; 

  

	 	1.3.2	words in the singular shall include the plural, and vice versa; 

  

	 	1.3.3	the masculine gender shall include the feminine and neutral and vice versa; 

  

	 	1.3.4	a reference to a person shall include a reference to a firm, a body corporate, an unincorporated association or to a person’s executors or administrators;

  

	 	1.3.5	a reference to a clause, sub-clause, Schedule and Exhibit shall be a reference to a clause, sub-clause, schedule and exhibit (as the case may be) of or to this Agreement;

  

	 	1.3.6	if a period of time is specified and commences from a given day or the day of an act or event, it shall be calculated inclusive of that day; 

  

	 	1.3.7	references to any legal term for any action, remedy, method or judicial proceeding, legal document, legal status, court, official or any legal concept or thing shall in respect of
any jurisdiction other than Hong Kong be deemed to include what most nearly approximates in that jurisdiction to the Hong Kong legal term; 

  

	 	1.3.8	references to writing shall include any modes of reproducing words in a legible and non-transitory form; 

  

	 	1.3.9	a reference to a balance sheet or profit and loss account shall include a reference to any note forming part of it; 

  

	 	1.3.10	where any of the Warranties is qualified in this Agreement or in the Disclosure Letter by the expression “to the Seller’s knowledge” or “so far as the Seller is
aware” or any similar expression, that Warranty shall be deemed to include an additional statement that it has been made after due, diligent and careful enquiry to ensure that all information given in the Warranty is true, complete and accurate
in all respects; 

  

	 	1.3.11	any reference herein to “including” shall be construed as a reference to “including but not limited to”; 

  

	 	1.3.12	the headings in this Agreement are for convenience only and shall not affect the interpretation of any provision of this Agreement; and 

  

 5 

	 	1.3.13	references to this Agreement include this Agreement as amended or supplemented in accordance with its terms. 

  

	1.4	The designations adopted in the recitals and introductory statements preceding this clause apply throughout this Agreement and the Schedules. 

  

	2.	SALE AND PURCHASE OF PURCHASED ASSETS 

  

	2.1	The Buyer, relying on the agreements, covenants, representations, warranties, undertakings and indemnities of the Seller herein, hereby agrees to purchase from the Seller and the
Seller as legal and beneficial owner hereby agrees to sell, assign and transfer to the Buyer on the Closing Date free and clear of all Encumbrances, all rights, title, benefits and interests of the Seller in: 

  

	 	2.1.1	all the Intellectual Property; 

  

	 	2.1.2	all claims, benefits, rights and entitlements under all contracts, contract rights, agreements, licenses, commitments and other instruments (whether uncompleted or pending) in
relation to the Intellectual Property including, without limitation, those set out in Part II of Schedule 1 (collectively, the “Contracts”) and including all deposits received prior to the Closing Date in respect of the same;
and 

  

	 	2.1.3	all income, royalties, damages and payments due or payable at Closing or thereafter including, without limitation, damages and payments for past or future infringements, passing
off, misappropriations, breach or similar claims in respect of the Intellectual Property and the Contracts, the causes of action, rights of set-off against third party, right to sue for and to recover damages and other remedies in respect of any
past infringements or misappropriations, breach or similar claim in respect of the Intellectual Property and the Contracts, and any and all corresponding rights that, now or hereafter, may be secured throughout the world; 

(collectively, “the Purchased Assets”). 
  

	2.2	Required Consent 

  

	 	2.2.1	Without prejudice to Clause 4, in the event that the Seller is unable to transfer to the Buyer a Contract on the Closing Date because consent from the relevant party to the
Contract (other than the Seller) for such transfer has not been obtained on or before that date, the Seller shall use its reasonable efforts to obtain such consent and transfer the full benefit and legal title of such Contract to the Buyer within 30
days from the Closing Date. 

  

	 	2.2.2	The Buyer shall use its reasonable efforts to assist the Seller in obtaining the consent for the purpose of Clause 2.2.1. Without prejudice to Clause 4, the Buyer may
at its absolute discretion waive any of the requirements under Clause 2.2.1. 

  

 6 

 No assumption of liabilities 
  

	2.3	Save as herein provided to the contrary, the Buyer is not assuming any obligation or liability of any kind or nature whatsoever of the Seller, whether or not related to the
Purchased Assets, including, without limitation, the following liabilities and obligations of the Seller: 

  

	 	2.3.1	all Claims, demands, obligations or liabilities for Tax for all periods prior to, on or after the Closing Date and all Claims, demands, obligations or liabilities for the payment of
any transfer tax, stamp duty or recording or filing fees, if any, imposed upon the sale, transfer, assignment and conveyance of the Purchased Assets; 

  

	 	2.3.2	all Claims, demands, obligations, liabilities or indemnifications of any nature whatsoever, whether or not accrued, absolute, contingent, determined or determinable, actual or
threatened, known or unknown which are based on or related to the operation of the business of the Seller or ownership or use of its assets (other than the Purchased Assets) for all periods prior to, on or after the Closing Date;

  

	 	2.3.3	all Claims, demands, obligations, liabilities or indemnifications of any nature whatsoever, whether or not accrued, absolute, contingent, determined or determinable, actual or
threatened, which are based on or related to the ownership or use of the Purchased Assets and which arose or were incurred on or before the Closing Date, or which are based on events occuring on or before the Closing Date, notwithstanding that the
date on which the Claim, demand, liability or obligation is asserted is after the Closing Date; 

  

	 	2.3.4	any obligation or liability of the Seller for fees, costs and expenses relating to the negotiation, execution and delivery of this Agreement and the consummation of the transactions
contemplated thereby, including, without limitation, any broker’s or finder’s fees or legal, accounting and other professional or consulting fees and expenses; 

  

	 	2.3.5	any obligation or liability of the Seller arising out of or resulting from the Seller’s noncompliance with any applicable law or regulation; 

  

	 	2.3.6	any liability, obligation or performance of the Seller under this Agreement; 

  

	 	2.3.7	any Claim, demand, liability or obligation of the Seller arising out of or resulting from the Seller’s acts or omissions occurring before, on or after the Closing Date;

  

	2.4	The Seller shall promptly pay and discharge in full when due or required to be discharged, or contest in good faith, all liabilities and Claims referred to in Clause 2.3.

  

	2.5	 Save as provided herein to the contrary, after the Closing, any regular periodic charges with respect to the Purchased Assets, including amounts payable with
respect to personal property Taxes relating to the Purchased Assets, which become due and payable on or after the Closing Date and relate to periods that begin before and end after the Closing Date, shall be prorated and adjusted between the Seller
and the Buyer as of the Closing Date on a per diem basis, and the Seller shall be responsible for and pay to the Buyer the portion of such amounts allocable to the period prior to the Closing Date 

  

 7 

	 	 
for which payment is due on or after the Closing Date within five Business Days of demand from the Buyer upon presentation of the relevant invoice(s)
relating to such charges; provided, however, that Seller shall not be required to pay to Buyer any amounts it intends to dispute in good faith and shall provide Buyer written notice of its intention to dispute such amounts within such five
(5) Business Day period. 

  

	2.6	From and after the Closing, the Buyer shall have the right and authority to collect for its own account all receivables and other related items that are included in the Purchased
Assets. To the extent that, after the Closing, (i) the Buyer or any of its Affiliates receive any payment that is for the account of the Seller according to the terms of this Agreement, or the Seller makes a payment on behalf of the Buyer, the
Buyer shall deliver such amount to the Seller or (ii) the Seller or any of its Affiliates receives any payment that is for the account of the Buyer or any of its Affiliates according to the terms of this Agreement, or the Buyer makes a payment
on behalf of the Seller, the Seller shall deliver such amount to the Buyer. All amounts due and payable under this Clause 2.6, if any, shall be due and payable by the applicable party in immediately available funds, by wire transfer to an
account designated in writing by the other party and shall be delivered to the other party within ten (10) Business Days of receipt thereof. 

  

	3.	PURCHASE PRICE 

  

	3.1	As consideration for the purchase of the Purchased Assets, in reliance upon the representations and warranties, covenants, agreements and undertakings of the Seller made herein, and
subject to the terms and conditions of this Agreement, the Buyer shall pay to the Seller (or where applicable, the Buyer shall remit to the Seller), the sum of US$10,000 (the “Purchase Price”). 

  

	3.2	Any payments made to a party to this Agreement pursuant to this Agreement shall be made in cash in US$ and effected by crediting the account specified in the Payment Account Details
of the payee(s) by way of wire transfer in immediately available funds on or before the due date for payment which shall be a good discharge of the party required to make payment in respect of its obligations to make such payment.

  

	3.3	Each of Buyer and Seller acknowledge and agree that the consummation of the purchase and sale transaction contemplated hereby could result in the obligation of Seller to pay, under
the laws of Korea, a royalty income tax of 27.5% of the Purchase Price (the “Royalty Tax”) in the amount of US$2,750. The Buyer shall be entitled to deduct or withhold from the Purchase Price, the Royalty Tax (at the rates mentioned
in this Clause 3.3 or at such other rates as may be applicable from the date of this Agreement until Closing) and such other amount as the Buyer may be required to deduct or withhold on account of any Tax under any applicable law or
regulations (including those of Korea) and hereby covenants and agrees to promptly remit such applicable Taxes to the appropriate taxation authority in accordance with the applicable laws or regulations. The Buyer shall pay only the balance of the
Purchase Price to the Seller and in such event, the payment of such balance of the Purchase Price (after the deduction or withholding as aforesaid) shall be deemed to be a good discharge of the Buyer’s obligations to make payment of the
Purchase Price hereunder. 

  

 8 

	4.	CONDITIONS 

  

	4.1	Conditions Precedent of the Buyer 

 The obligations
of the Buyer under this Agreement are subject to the Buyer’s satisfaction that the following conditions have been duly fulfilled: 
  

	 	4.1.1	completion of satisfactory (in Buyer’s sole and discretionary judgment) legal, commercial and financial due diligence by Buyer; 

  

	 	4.1.2	the completion of any formal internal corporate approvals as may be required by Aegis Group plc including approval by the board of directors and Chief Executive Office of Aegis
Group plc; 

  

	 	4.1.3	the parties to the Contracts (other than the Seller) having given each of their respective consents to the assignments or novations of the same in favour of the Buyer;

  

						
	4.1.4	  	(a	)	 	nothing having occurred or been omitted which is, or had it occurred or been omitted on or before the date of this Agreement would have constituted, a breach of the Warranties;
			
		  	(a	)	 	no order or judgement of any court or governmental, statutory or regulatory body having been issued or made prior to Closing, which has the effect of making unlawful or otherwise prohibiting the
purchase of the Purchased Assets by the Buyer;
			
		  	(b	)	 	each of the Seller and CDC having performed or complied with, in all material respects, all covenants, obligations and agreements contemplated by this Agreement to be performed or complied with
by it at or prior to Closing, including without limitations those set forth in Clause 5;
			
		  	(c	)	 	all necessary notification and filings having been made, the expiry, lapsing or termination of all applicable waiting periods (including extensions thereof) under any applicable legislation or
regulations and all the licences, authorisations, orders, grants, confirmations, permissions, registrations and other approvals necessary or desirable for or in respect of the proposed sale of the Purchased Assets by the Seller to the Buyer having
been obtained from appropriate governments, governmental, supranational or trade agencies, courts or other regulatory bodies on terms satisfactory to the Buyer and such licences, authorisations, orders, grants, confirmations, permissions,
registrations and other approvals remaining in full force and effect;

  

	 	4.1.5	the Seller having certified in writing the matters mentioned under Clause 4.1.4; 

  

	 	4.1.6	the simultaneous and successful completion of the transactions contemplated under all the Acquisition Agreements to the satisfaction to the Buyer and Seller.

  

 9 

	4.2	Conditions Precedent of the Seller 

 The obligations
of the Seller under this Agreement are subject to the Seller’s satisfaction that the following conditions have been duly fulfilled: 
  

	 	4.2.1	the completion of any formal internal corporate approvals as may required by the Seller including approval by the Seller’s board of directors and stockholders;

  

						
	4.2.2	  	(a	)	 	nothing having occurred or been omitted which is, or had it occurred or been omitted on or before the date of this Agreement would have constituted, a breach of the Buyer
Warranties;
			
		  	(b	)	 	no order or judgement of any court or governmental, statutory or regulatory body having been issued or made prior to Closing, which has the effect of making unlawful or otherwise prohibiting the
purchase of the Purchased Assets by the Buyer;
			
		  	(c	)	 	the Buyer having performed or complied with, in all material respects, all covenants, obligations and agreements contemplated by this Agreement to be performed or complied with by it at or prior
to Closing;
			
		  	(d	)	 	all necessary notification and filings having been made, the expiry, lapsing or termination of all applicable waiting periods (including extensions thereof) under any applicable legislation or
regulations and all the licences, authorisations, orders, grants, confirmations, permissions, registrations and other approvals necessary for or desirable for or in respect of the proposed sale of the Purchased Assets by the Seller to the Buyer
having been obtained from appropriate governments, governmental, supranational or trade agencies, courts or other regulatory bodies on terms satisfactory to the Seller and such licences, authorisations, orders, grants, confirmations, permissions,
registrations and other approvals, remaining in full force and effect;

  

	 	4.2.3	the simultaneous and successful completion of the transactions contemplated under all the Acquisition Agreements to the satisfaction of the Seller and Buyer.

  

	4.3	Responsibility for Satisfaction 

  

	 	4.3.1	The Seller undertakes to use its reasonable endeavours to ensure the satisfaction of the conditions set out in Clauses 4.1.3 to 4.1.5 as soon as possible after the
date of this Agreement and before the date of Closing, and shall promptly give notice to the Buyer upon satisfaction of the same. 

  

	 	4.3.2	The Buyer undertakes to use its reasonable endeavours to ensure the satisfaction of the conditions set out in Clauses 4.2.2 (a) and (c) as soon as possible
after the date of this Agreement and before Closing, and shall promptly give notice to the Seller upon satisfaction of the same. 

  

	 	4.3.3	 Without prejudice to the foregoing, it is agreed that all requests and enquiries from any government, governmental, supranational or trade agency, court or 

  

 10 

	 	 
regulatory body shall be dealt with by the Seller and the Buyer in consultation with each other and each of the Seller and the Buyer shall upon mutual
agreement promptly co-operate with and provide all necessary information and assistance reasonably required by such government, agency, court or body upon being requested to do so by the other. 

  

	 	4.3.4	The Buyer may at any time by notice in writing to the Seller, waive any of the conditions in Clause 4.1, in whole or in part, or extend the time set out in
Clause 4.4 within which the conditions set out in Clause 4.1 shall be satisfied and such waiver may be made subject to such terms and conditions as are determined by the Buyer. 

  

	 	4.3.5	The Seller may at any time by notice in writing to the Buyer, waive any of the conditions in Clause 4.2, in whole or in part, or extend the time set out in Clause 4.4
within which the conditions set out in Clause 4.2 shall be satisfied and such waiver may be made subject to such terms and conditions as are determined by the Seller. 

  

	 	4.3.6	Should the Buyer or the Seller become aware of anything which will or may prevent any of the conditions set out in Clause 4.1 or Clause 4.2 from being satisfied by the
time and date required by Clauses 4.4.1 and 4.4.2 the relevant party shall forthwith notify the other in writing. 

  

	4.4	Non-Satisfaction 

  

	 	4.4.1	If any of the conditions in Clause 4.1 is not satisfied or waived by the Buyer on or before 11 September, 2007 or such other date as the parties may agree or the Buyer
becomes aware of any fact that would prevent any of the conditions in Clause 4.1 from being satisfied, the Buyer may, in its sole discretion, terminate this Agreement and no party shall have any claim against any other under it, save for any
claim arising from any antecedent breach (including breach of any undertaking contained in Clause 4.3.1). 

  

	 	4.4.2	If any of the conditions in Clause 4.2 is not satisfied or waived by the Seller on or before 11 September, 2007 or such other date as the parties may agree or the Seller
becomes aware of any fact that would prevent any of the conditions in Clause 4.2 from being satisfied, the Seller may, in its sole discretion, terminate this Agreement and no party shall have any claim against any other under it, save for any
claim arising from any antecedent breach (including breach of any undertaking contained in Clause 4.3.2). 

  

	 	4.4.3	In the event that the Buyer or Seller shall terminate this Agreement in accordance with Clause 4.4.1 or Clause 4.4.2 (as the case may be) and without limiting the
Buyer’s or Seller’s right to claim, all obligations of the Buyer and Seller under this Agreement shall, unless otherwise expressly stated, cease, but, for the avoidance of doubt, all rights and liabilities of the parties which have accrued
before such termination shall continue to exist. 

  

 11 

	5.	ACTION PENDING CLOSING 

  

	5.1	Seller’s General Obligations 

 The Seller
undertakes to procure that from the date of this Agreement until Closing: 
  

	 	5.1.1	the Buyer and its agents will, upon reasonable notice, be allowed access to the employees and premises of the Seller and shall also be allowed access to, and to take copies of, the
books and records of the Seller including, without limitation, the statutory books, minute books, licences, contracts, Intellectual Property and Contracts in the possession or control of the Seller subject always to the applicable protections of
confidentiality set forth in Clause 14 hereof; 

  

	 	5.1.2	the Seller shall take all commercially reasonable efforts consistent with past practices to maintain the present status of its Purchased Assets and their validity; and

  

	 	5.1.3	save only as may be necessary to give effect to this Agreement, the Seller shall not commit, voluntarily permit or procure any act or omission which would render any of the
Warranties untrue, inaccurate or misleading in any respect upon Closing. 

  

	5.2	Restrictions on the Seller 

 Without prejudice to
the generality of Clause 5.1, except as may be expressly provided or contemplated in this Agreement or with the prior written consent of the Buyer (which consent shall not be unreasonably withheld), the Seller shall not between the date of
this Agreement and Closing with respect to the Purchased Assets: 
  

	 	5.2.1	grant a licence of or assign or otherwise dispose of or create any Encumbrance over any Purchased Asset in favour of any third party (not being the Buyer); or

  

	 	5.2.2	commence, compromise or discontinue any legal or arbitration proceedings relating to the Purchased Assets. 

  

	5.3	Exercise of Buyer’s Rights 

 It is hereby
acknowledged (for the avoidance of doubt) that none of the provisions of this Clause 5 or the exercise or failure to exercise by the Buyer of its rights thereunder, shall give rise to any liability on the part of the Buyer or any of its
employees, consultants or representatives or any person connected with it (except to the extent that any losses or damages to the Seller are caused by the Buyer’s gross negligence or wilful misconduct in respect of the exercise of the
Buyer’s right under Clause 5.1.1.) 
  

	6.	CLOSING 

  

	 6.1
	 Closing shall take place at the offices of Jones Day at 29th
 Floor, Edinburgh Tower, The Landmark, 15 Queen’s Road Central, Hong Kong or such other place as the parties may agree, on the Closing Date. 

  

 12 

	6.2	On the Closing Date: 

  

	 	6.2.1	the Seller shall deliver or cause to be delivered to the Buyer: 

  

	 	(a)	such conveyances, assurances, transfers, assignments, releases, novation agreements, consents and other documents duly executed by the relevant parties as the Buyer may require to
vest in the Buyer the full benefit of valid legal title to the Purchased Assets and all other rights and assets hereby agreed to be sold and the full benefit of this Agreement including without limitation, duly executed assignments or novation
agreements in the Agreed Form of the Contracts; 

  

	 	(b)	all books, accounts, papers, records and other documents (including financial records) relating to the Purchased Assets; 

  

	 	(c)	any other documents of title or transfer of ownership relating to any of the Purchased Assets; 

  

	 	(d)	such other documents as may be required to give to the Buyer good title to the Purchased Assets, and to enable the Buyer or its nominees to become the registered owner thereof and
to consummate the transactions contemplated by this Agreement; 

  

	 	(e)	duly notarised power of attorney under which any document is executed on behalf of the Seller; 

  

	 	(f)	certificate in the form set out in Part 1 of Schedule 2 duly executed by the Seller confirming the Warranties; 

  

	 	(g)	certificate in writing duly executed by the Seller pursuant to Clause 4.1.5 confirming the matters mentioned thereunder; 

  

	 	(h)	legal opinion from BVI and Cayman counsels in the Agreed Form and dated as of the Closing Date; 

  

	 	(i)	reasonably current Certificate of Good Standing and Incumbency of the Seller; 

  

	 	(j)	reasonably current Certificate of Good Standing and Incumbency of CDC; 

  

	 	(k)	signed copies of the resolutions duly passed by: 

  

	 	(i)	the board of directors and shareholder of the Seller; and 

  

	 	(ii)	the board of directors of CDC, approving this Agreement, the transfer of the Purchased Assets and the transactions contemplated hereunder, and the execution, delivery and
performance of this Agreement by the Seller and CDC, in form and substance satisfactory to the Buyer; 

  

	 	6.2.2	the Seller shall permit the Buyer to take possession of the Purchased Assets. 

  

 13 

	6.3	Upon compliance by the Seller with the provisions of Clause 6.2 the Buyer shall at Closing pay the Purchase Price to the Seller in accordance with Clauses 3.2 and
3.3. 

  

	6.4	The Buyer shall provide Seller with a certificate in the form set out in Part 2 of Schedule 2 duly executed by the Buyer confirming the Buyer Warranties.

  

	6.5	It is a condition to Closing that (and the Buyer and Seller shall have no obligation to complete the sale and purchase of the Purchased Assets hereunder unless) the transactions
contemplated under all the Acquisition Agreements shall be completed simultaneously and successfully with the completion of the sale and purchase of the Purchased Assets hereunder. 

  

	7.	ASSIGNMENT OF CONTRACTS AND INTELLECTUAL PROPERTY RIGHTS 

  

	7.1	This Agreement shall not constitute an agreement to assign any Contract or any claim, right or any benefit arising thereunder or resulting therefrom if an attempted assignment
thereof, without consent of a third party thereto, would constitute a breach or other contravention thereof or in any way adversely affect the rights of the Buyer thereunder. 

  

	7.2	If any licenses, consents or agreements from third parties are required for the transfer, assignment or novation to or in favour of the Buyer of any Contracts under this Agreement,
the Seller shall use its reasonable efforts (but without any payment of money by the Buyer) to obtain such license, consents or agreement from the other parties on or before the Closing Date or claim any right or any benefit arising thereunder for
the assignment thereof to the Buyer as the Buyer may request. 

  

	7.3	Without prejudice to Clauses 2.2 and 4, if such license, consent or agreement is not obtained, or if an attempted assignment thereof would be ineffective or would adversely
affect the rights of the Seller thereunder so that Buyer would not in fact receive or otherwise be entitled to the full benefit of all such rights, the Seller shall to the extent not prohibited under applicable agreements, enter into such
arrangement with the Buyer at the Buyer’s reasonable direction under which the Buyer will obtain the benefits and assume the obligations thereunder in accordance with this Agreement, including subcontracting, sub-licensing, or subleasing to the
Buyer, or underwhich the Seller would enforce for the benefit of the Buyer, with the Buyer assuming Seller’s obligations, any and all rights of the Seller against a third party thereto. The Seller shall promptly pay to the Buyer when received
all monies received by the Seller under any Purchased Asset or any claim, right or any benefit arising thereunder. The foregoing provisions do not affect Buyer’s rights and remedies against the Seller in respect of a Contract which they have
warranted is assignable, or may-be performed by Buyer instead of the Seller without any novation or transfer agreement. 

  

	7.4	Subject to Clauses 7.1 to 7.3, with effect from Closing, the Buyer shall observe and perform the obligations and commitments of the Seller under the Contracts and the
liabilities incurred from such obligations and commitments provided that nothing in this Agreement: 

  

	 	7.4.1	shall require the Buyer to perform any obligation falling due for performance or which should have been performed before the Closing Date; or 

  

 14 

	 	7.4.2	shall make the Buyer liable for any act, neglect, default or omission in respect of any Contracts or for any claim, expense, loss or damage arising from any failure to obtain the
consent or agreement of any third party to the entry into of this Agreement or from any breach of any of the Contracts caused by this Agreement or its Closing; or 

  

	 	7.4.3	shall impose any obligation on the Buyer for or in respect of any goods supplied by the Seller or any service performed by the Seller. 

  

	7.5	The Seller shall indemnify the Buyer against all actions, proceedings, costs, damages, claims and demands in respect of: 

  

	 	7.5.1	any act or omission on the part of the Seller in relation to the Contracts; 

  

	 	7.5.2	any alleged fault, defect or error of any kind arising from goods supplied, services provided by the Seller. 

  

	7.6	The Seller shall authorize and request each applicable intellectual property office to record the transfer of the Purchased Assets (if applicable). Any costs incurred for recording
the transfer at the applicable intellectual property office shall be borne by the Buyer. 

  

	7.7	At the request of the Buyer, the Seller agrees to perform all reasonable acts and provide all available information necessary to enable the Buyer to duly submit documentation in
each applicable jurisdiction to effect the assignment contemplated hereby and to defend and enforce the Purchased Assets and the Buyer’s rights and title therein. 

  

	7.8	The Seller covenants, agrees and undertakes to execute, whenever requested by the Buyer and without further consideration, all instruments that are necessary for securing to the
Buyer or for maintaining for the Buyer all the Purchased Assets and to generally assist the Buyer in perfecting and recording titles to the Purchased Assets. 

  

	7.9	Save as required for the performance of their obligations as contemplated in this Agreement and except as otherwise directed by the Buyer, 

  

	 	7.9.1	after the date hereof, the Seller and CDC shall not and shall procure that none of their respective Affiliates or persons authorized by them or such Affiliates will register or
apply for registration of any trademarks, service marks, logos, trade names, Internet domain names and corporate names forming part of the Purchased Assets (including without limitation “Ion Global 

, in any of their forms or spellings (or in forms or spellings similar to or resembling the same) in any jurisdiction; 

  

	 	7.9.2	immediately after closing, the Seller and CDC shall cease and shall procure that each of their respective Affiliates and other persons authorized by them or such Affiliates shall
cease the use of all or any of the trademarks, service marks, logos, trade names, Internet domain names and corporate names forming part of the Purchased Assets (including without limitation “Ion Global 

, in any of their forms or spellings (or in forms or spellings similar to or resembling the same) for any purpose whatsoever. 

  

 15 

	 	7.9.3	The obligations and liabilities of the Seller and CDC under this Clause 7.9 are the joint and several obligations and liabilities of the Seller and CDC.

  

	8.	WARRANTIES BY SELLER AND CDC 

  

	8.1	The Seller hereby warrants and represents to the Buyer that the matter set forth in Clauses 8.1.1 to 8.1.17 (“Warranties”) are true, accurate and
correct (a) as of the date of this Agreement and (b) as of the Closing Date. 

 Intellectual Property Rights

  

	 	8.1.1	Intellectual Property 

  

	 	(a)	the Seller has good beneficial and legal title to all of the Purchased Assets, free and clear of all liens, licenses, security interests, Encumbrances and other restrictions. Upon
the Seller’s transfer and sale of the Purchased Assets to the Buyer pursuant to this Agreement, the Buyer will have good and valid title to and full and unrestricted use of, all the Purchased Assets, free from and clear of any Encumbrances. The
Seller does not hold or use any of the Purchased Assets pursuant to, and none of the Purchased Assets are subject to, any written contract, and/or written agreement or other commitment, including but not limited to, any franchise license or
sublicense; 

  

	 	(b)	none of the Purchased Assets constitute or will constitute any violation, infringement or misappropriation of the rights of any third party; 

  

	 	(c)	save as Disclosed, to the Seller’s knowledge no claim by any third party contesting the validity, enforceability, use or ownership of any of the Purchased Assets has been made,
is currently outstanding or, is threatened and to the Seller’s knowledge there are no grounds for the same, nor will any such claim be made in future; 

  

	 	(d)	to the Seller’s knowledge no loss or expiration of any part of the Purchased Assets is pending or reasonably foreseeable; 

  

	 	(e)	the Seller has not received any notices of, and is not aware of any facts which indicate a likelihood of, any infringement or misappropriation by, or conflict with, any third party
with respect to the Purchased Assets (including, without limitation, any demand or request that the Seller license any rights from a third party); 

  

	 	(f)	the execution of this Agreement by the Seller will have no effect on the Seller’s right, title and interest in and to the Purchased Assets. The Seller has taken all necessary
action, in its reasonable business judgment, to maintain and protect the Purchased Assets so as to not affect the validity or enforceability of the Purchased Assets; and 

  

 16 

	 	(g)	all the information and particulars of the Intellectual Property set out in Schedule 1 are true, accurate and complete. 

 Litigation 
  

	 	8.1.2	Legal proceedings 

 Save as Disclosed, with regard
to the Purchased Assets, the Seller is not engaged or proposing to engage in any litigation, arbitration, prosecution or other legal proceedings, and there are no claims or actions (whether criminal or civil) in progress, outstanding, pending or
threatened against the Seller, the Purchased Assets or to the Seller’s knowledge, against any of its directors or officers or in respect of which the Seller is liable to indemnify any party concerned. 
  

	 	8.1.3	Defaults by others 

 no party with whom the Seller
has entered into any contract in relation to the Purchased Assets is in default under it, and there are no circumstances likely to give rise to such a default. 
 Corporate Organisation and Business 
  

	 	8.1.4	Corporate Status 

  

	 	(a)	the Seller (including any of its representative office or branch) has been duly incorporated and constituted, and is legally subsisting under the laws of its place of incorporation;

  

	 	(b)	there has been no resolution, petition or order nor has any step been taken for the winding-up of the Seller and no receiver has been appointed in respect thereof or any part of the
assets thereof and no such resolutions, orders and appointments are imminent or likely nor are there any grounds upon which such resolutions, orders and appointments could be based; 

  

	 	(c)	so far as the Seller is aware after making all due enquires, no events or omissions which is not capable of remedy have occurred whereby the constitution subsistence or corporate
status of the Seller has been or is likely to be adversely affected; and 

  

	 	(d)	 neither the execution of this Agreement or the other documents hereunder, nor the performance by the Seller or CDC of their respective obligations hereunder or
thereunder will (a) violate or conflict with the memorandum and articles of association of the Seller or any applicable law, (b) violate, conflict with or result in a breach or termination of, or otherwise give any person or entity
additional rights or compensation under, or the right to terminate 

  

 17 

	 	 
or accelerate, or constitute (with notice or lapse of time, or both) a default under the terms of any note, deed, lease, instrument, security agreement,
mortgage, commitment, contract, agreement, license or other instrument or oral understanding to which the Seller or any of its Affiliates is a party or by which any of the assets or the properties of the Seller are bound or (c) result in the
creation or imposition of any Encumbrance with respect to, or otherwise have an adverse effect upon, any of the assets or properties of the Seller. 

  

	 	8.1.5	Memorandum and articles 

 the copies of the
memorandum and articles of association and other constitutional documents of the Seller delivered to the Buyer are true and complete copies, and the Seller has complied with all the provisions of its memorandum and articles of association and
constitutional documents and, in particular, has not entered into any ultra vires transaction. 
  

	 	8.1.6	Statutory books and registers 

 the statutory books
and registers of the Seller and all current books of account are written up to date and all such documents and other necessary records, deeds, agreements and documents relating to its affairs are in its possession or under its control. 

 

	 	8.1.7	Compliance with applicable legislation 

 the Seller
and its officers have complied with the provisions of all applicable legislation in its place of incorporation, and the places where it carries on its business. 
  

	 	8.1.8	Title to the Purchased Assets 

  

	 	(a)	the Seller has valid title to, and is the exclusive legal and beneficial owner of the Purchased Assets, and, therefore, has the right to sell and transfer the Purchased Assets. All
the Purchased Assets will be sold and transferred to the Buyer free and clear of any Encumbrance together with all accrued beneficial rights attached to them at the date of this Agreement or subsequently becoming attached to them; and

  

	 	(b)	save as Disclosed, no consent, approval, authorization permit or licence from any third party, government agency or regulatory body is necessary for the sale and transfer of the
Purchased Assets by the Seller to the Buyer hereunder. 

  

	 	8.1.9	Powers of attorney 

 other than in the ordinary
course of business, there are no powers of attorney given by the Seller in respect of any of the Purchased Assets. 
  

 18 

	 	8.1.10	[Intentionally left blank]. 

 Miscellaneous

  

	 	8.1.11	Insolvency 

  

	 	(a)	no order has been made and no resolution has been passed for the winding up of, or a provisional liquidator to be appointed in respect of, the Seller and no petition has been
presented and no meeting has been convened for the purpose of winding up the Seller; 

  

	 	(b)	no receiver has been appointed in respect of the Seller or the Purchased Assets; 

  

	 	(c)	the Seller is not insolvent or unable to pay its debts within the meaning of the applicable legislation to which it is subject and the Seller has not stopped paying its debts as
they fall due; 

  

	 	(d)	no event analogous to any of the foregoing has occurred in any jurisdiction outside the British Virgin Islands; 

  

	 	(e)	no unsatisfied judgment is outstanding against the Seller. 

  

	 	8.1.12	Consents 

 save as Disclosed, all consents,
permissions, approvals and agreements of third parties which are necessary for the Seller to obtain in order to enter into and perform this Agreement in accordance with its terms have been unconditionally obtained in writing and have been Disclosed
to the Buyer. 
  

	 	8.1.13	Material information 

 all material information
relating to the Seller and the Purchased Assets which is known or would on reasonable enquiry be known to the Seller and which should be known by a reasonable Buyer for value of the Purchased Assets has been Disclosed or provided to the Buyer.

  

	 	8.1.14	Recitals and disclosures 

 the recitals, Exhibits
and Schedules to the Agreement and all information and documents relating to the Purchased Assets supplied by the Seller or any agent of any of them to the Buyer, its solicitors, accountants or other agents or advisers during or with a view to the
negotiations leading up to the Agreement, are true and accurate in all respects, and there is no fact not Disclosed which would render any such information or document inaccurate or misleading or which, if Disclosed, might reasonably affect the
willingness of the Buyer to purchase the Purchased Assets for the consideration or otherwise on the terms specified in the Agreement. Neither the Seller nor CDC has withheld from the Buyer any material facts relating to the assets, 

  

 19 

 
properties, liabilities, business operations, financial condition, results of operations or prospects of the Seller or the Purchased Assets. Neither this
Agreement (including the Exhibits, Schedules, certificates and other documents delivered hereto) nor any other agreement, document, certificate or written statement furnished to the Buyer by or on behalf of the Seller in connection with this
Agreement, the other documents or the transactions contemplated hereunder or thereunder contains any untrue statement of a material fact or omits to state a material fact necessary in order to make the statements contained herein or therein not
misleading. 
 Authority of the Seller and CDC 
  

	 	8.1.15	Each of the Seller and CDC has full power and authority to enter into and perform this Agreement and the provisions of this Agreement, when executed, will constitute valid and
binding obligations on the Seller and CDC, in accordance with its terms; 

  

	 	8.1.16	the execution and delivery of, and the performance by each of the Seller and CDC of its obligations under, this Agreement will not result in a breach of any order, judgment or
decree of any court or governmental agency to which the Seller or CDC is a party or by which it is bound; 

  

	 	8.1.17	neither the Seller nor any of its respective agents or advisers is aware of any fact or matter which would or may constitute a breach of any of the Warranties and which failure to
disclose by such agents or advisers is deemed fraudulent. 

  

	8.2	The Seller acknowledges that, in entering into this Agreement and in purchasing the Purchased Assets, the Buyer has relied and will rely upon the Warranties given herein and the
Warranties as confirmed by the Seller according to Clause 6.2.1(f). 

  

	8.3	The Warranties are given subject to the matters Disclosed in the Disclosure Letter but no other information relating to the Purchased Assets and the Seller of which the Buyer has
knowledge (actual or constructive) and no investigation by or on behalf of the Buyer shall prejudice any claim made by the Buyer in respect of the Warranties or operate to reduce any amount recoverable and it shall not be a defence to any claim
against the Seller that the Buyer knew or ought to have known or had constructive knowledge of any information (other than as Disclosed in the Disclosure Letter) relating to the circumstances giving rise to such claim. 

  

	8.4	Each of the Warranties shall be construed as a separate warranty and shall not be otherwise limited or restricted by reference to or inference from the terms of any other Warranty
or any other term of this Agreement. 

  

	8.5	The Seller shall procure that the Warranties are true, accurate and correct at the date of this Agreement and, for this purpose the Warranties shall be deemed to be repeated at the
Closing Date and any express or implied reference therein to the date of this Agreement shall be replaced by a reference to the Closing Date. Subject to Clause 9.1.7, the Warranties shall remain in full force and effect notwithstanding
Closing. 

  

 20 

	8.6	Except as may be provided herein, the rights and remedies of the Buyer in respect of a breach of any of the Warranties shall not be affected by Closing, by any investigation made by
or on behalf of the Buyer into the affairs of the Seller and the Business, by the giving of any time or other indulgence by the Buyer to any person, by the Buyer rescinding or not rescinding this Agreement, or by any other cause whatsoever except a
specific waiver or release by the Buyer in writing; and any such waiver or release shall not prejudice or affect any remaining rights or remedies of the Buyer. 

  

	8.7	All representations and warranties made by any party contained in this Agreement, any Exhibit, Schedule, certificate or other instrument specifically referred to in the Warranties
pursuant hereto or made in writing by or on behalf of a party in connection with the transactions contemplated by this Agreement, and all indemnification obligations under this Agreement shall survive the execution and delivery of this Agreement and
the Closing of the transactions contemplated hereunder until the expiration of the applicable statute of limitations or, if Clause 9.1.7 (subject to Clause 9.1.8) is applicable, until the expiry of a period of eighteen months
(18) after the date of this Agreement. 

  

	8.8	The Seller undertakes with the Buyer that it will before and after Closing promptly notify the Buyer in writing of any event or circumstance of which they become aware which is or
may be inconsistent with any of the Warranties or which might make any of the Warranties untrue or misleading if given at Closing. 

  

	9.	INDEMNIFICATION – GENERAL AND TAX 

  

	9.1	General Indemnification 

  

	 	9.1.1	As used in this Clause 9.1, the following terms shall have the following meanings: 

  

	 	(a)	“General Event of Indemnification” with respect to: 

  

	 	(i)	the Seller shall mean: 

 any breach of any representation
or Warranty, or any breach or failure of observance or performance of any agreement, undertaking, commitment, obligation, indemnity or covenant of the Seller contained in this Agreement (including the Exhibits and Schedules) or in any certificate or
other writing delivered in connection herewith at, before or after Closing or any facts or circumstances constituting such untruth, inaccuracy or breach; 
  

	 	(ii)	any Claims, liabilities or obligations of any kind or nature relating to the Purchased Assets arising from, relating to or in connection with operations or affairs of the Seller or
any of the assets, properties, interests in assets or properties or rights of the Seller which were existing at or as of Closing or arising in whole or in part out of any acts, transactions, conditions, circumstances or facts which occurred or
existed on or prior to Closing, and which were not Disclosed on or before the execution of this Agreement; 

  

 21 

	 	(iii)	any Claims, liabilities or obligations of any kind or nature relating to the assets of the Seller (other than the Purchased Assets) or the liabilities and Claims referred to in
Clause 2.3 whether existing at or as of Closing or at any time thereafter; and 

  

	 	(iv)	the Buyer shall mean any breach of any representation, Buyer Warranty, or any breach or failure of observance or performance of any agreement, undertaking, commitment, obligation,
indemnity or covenant of the Buyer contained in this Agreement or in any certificate or other writing delivered in connection herewith at, before or after Closing or any facts or circumstances constituting such untruth, inaccuracy or breach.

  

	 	(b)	“Special Event of Indemnification” with respect to : 

  

	 	(i)	the Seller shall mean any Claims, liabilities or obligations of any kind or nature arising from, relating to or in connection with any of the events set out in Schedule 3
whether existing at or as of Closing or at any time thereafter, and whether Disclosed or not on or before the execution of this Agreement; and 

  

	 	(ii)	the Buyer shall mean any Claims, liabilities or obligations arising from the Buyer’s failure to pay the applicable Taxes to the appropriate tax authority in accordance with
Clause 3.3 after deducting or withholding such payment from the Purchase Price. 

  

	 	(c)	“Losses” under this Clause 9 shall mean any and all Losses (as defined in Clause 1.1) sustained, suffered or incurred by any Indemnified Person.

  

	 	9.1.2	“Buyer Indemnified Persons” shall mean and include the Buyer and its respective officers, directors, employees, Affiliates, parents, subsidiaries, successors and
assigns; and “Seller Indemnified Persons” shall mean and include the Seller and its respective officers, directors, employees, Affiliates, parents, subsidiaries, successors and assigns. 

  

	 	9.1.3	The Seller shall indemnify, defend and hold harmless the Buyer Indemnified Persons, and each of them, from and against any and all Losses and Claims (including Claims by third
party) arising from or in connection with any General Event of Indemnification or Special Event of Indemnification except to the extent such Losses or Claims are due to fraud, gross negligence or wilful misconduct of any Buyer Indemnified Persons.

  

	 	9.1.4	The Buyer shall indemnify, defend and hold harmless the Seller Indemnified Persons, and each of them, from and against any and all Losses and Claims (including Claims by third
party) arising from or in connection with any General Event of Indemnification or Special Event of Indemnification, except to the extent any such Losses or Claims are due to fraud, gross negligence or wilful misconduct of any Seller Indemnified
Person. 

  

 22 

	 	9.1.5	This indemnity is to be a continuing security to the Buyer and Seller for all representations, Warranties, agreements, undertakings, commitments obligations, indemnities or
covenants on the part of the Seller or Buyer (as the case may be) under or pursuant to this Agreement notwithstanding settlement of account or other matter or thing whatsoever. 

  

	 	9.1.6	This indemnity is in addition and without prejudice to and not in substitution for any rights or security which the Buyer and Seller may now or hereafter have or hold for
performance and observance of any agreement, undertaking, commitment, obligation, indemnity or covenant on the part of the Seller or the Buyer (as the case may be) under or in connection with this Agreement. 

  

	 	9.1.7	Limitation of Liability in respect of the Warranties or the Buyer Warranties 

 Notwithstanding anything contained herein to the contrary but subject to Clause 9.1.8, (i) neither the Buyer nor the Seller may make a claim for indemnification pursuant to Clause 9 or
Clause 11.1 in respect of a breach of any of the Warranties or the Buyer Warranties (as the case may be) for Losses the amount of which is less than US$2,500 (“Minor Losses”) even if such Minor Losses in the aggregate exceed
the Basket (as defined below); (ii) neither the Buyer nor the Seller may make a claim for indemnification pursuant to Clause 9 or Clause 11.1 in respect of a breach of any of the Warranties or the Buyer Warranties (as the case may
be) unless and until Losses in an aggregate amount (excluding the Minor Losses) exceed US$5,000 (the “Basket”) in which case the Buyer or the Seller may make such claim(s) for indemnification for any and all Losses (excluding the
Minor Losses) and not merely for the excess of the Basket; and (iii) in no event shall the aggregate liability of (a) the Buyer or the Seller pursuant to this Clause 9.1 or (b) CDC pursuant to Clause 11.1 in respect of a
breach of any of the Warranties or the Buyer Warranties (as the case may be) exceed one hundred percent (100%) of the Purchase Price; and (iv) the period during which claims for any breach of a Warranty and/or indemnification pursuant to
this Agreement in respect of a breach of any of the Warranties or the Buyer Warranties (as the case may be) may be made shall commence from the date of this Agreement to the expiry of the period of eighteen (18) months after the date of this
Agreement. 
  

	 	9.1.8	None of the limitations regarding any Loss or Claim in respect of a breach of any of the Warranties or the Buyer Warranties (as the case may be) whether as to the amount or time set
forth in Clause 9.1.7 shall apply if in any case the Losses and Claims have arisen from or in connection with: 

  

	 	(a)	any Special Event of Indemnification; or 

  

	 	(b)	any breach of the Warranties set out in Clauses 8.1.1(a), (b), (f) and (g), 8.1.4(a) and 8.1.8. 

 For avoidance of doubt, no claim for any Loss or Claim arising from or in connection with items (a) or (b) of this Clause 9.1.8 above
shall be brought after the expiry of the applicable statute of limitation. 
  

 23 

	9.2	Covenant in Respect of Tax 

  

	 	9.2.1	In this Clause unless the context otherwise requires: 

  

	 	(a)	“Tax Event” includes (without limitation) any omission, event, action or transaction whether or not the Seller is a party thereto, the death of any person, a change
in the residence of any person for any Tax purpose, a failure to make sufficient dividend payments to avoid an apportionment or deemed distribution of income and the entering into and Closing of this Agreement and references to the result of events
on, before or after Closing shall include the combined result of two or more events one or more of which shall have taken place on, before or after Closing; and 

  

	 	(b)	reference to income or profits or gains earned, accrued or received shall include income or profits or gains deemed to have been or treated as or regarded as earned, accrued or
received for the purposes of any legislation. 

  

	 	9.2.2	Subject as hereinafter provided, the Seller hereby covenants with and undertakes to indemnify the Buyer (at its election, for itself, its Affiliates and as trustee for its
successors in title) against: 

  

	 	(a)	any Tax liability of the Seller or in relation to its assets (other than the Purchased Assets) or its business resulting from or by reference to any income, profits or gains earned
accrued or received before, on or after the Closing Date or any Tax Event relating thereto before, on or after such date whether alone or in conjunction with other circumstances and whether or not such Tax is chargeable against or attributable to
any other person; 

  

	 	(b)	any Tax liability of the Seller or in relation to the Purchased Assets resulting from or by reference to any income, profits or gains earned accrued or received on or before the
Closing Date or any Tax Event relating thereto on or before such date whether alone or in conjunction with other circumstances and whether or not such Tax is chargeable against or attributable to any other person; 

  

	 	(c)	any Tax liability of the Seller or in relation to the Purchased Assets that would not have been payable had there been no breach of any Warranties and which is not the subject of
the covenants in sub-clauses (a) and (b) above; and 

  

	 	(d)	all costs and expenses which are incurred by the Buyer or any of its Affiliates or the Seller in connection with any of the matters referred to in this Clause 9.2.2 or in
taking or defending any action under the covenants contained in this Clause 9.2.2 (including, without prejudice to the generality of the foregoing, all legal and other professional fees and disbursements). 

  

 24 

	 	9.2.3	The Purchase Price shall be allocated among the Purchased Assets in accordance with their values as determined by the Buyer as set forth in column (B) of Part 1
of Schedule 1. Each of the parties hereto shall (i) report the purchase and sale of the Purchased Assets in accordance with the allocations determined by the Buyer for all Tax purposes, (ii) not take a Tax position which is
inconsistent with such allocation, and (iii) cooperate with each other in preparing statements, Tax returns or reports required by any Tax Authority. 

  

	10.	BUYER’S RIGHTS 

  

	10.1	Without prejudice to any other right or remedy of the Buyer hereunder, if before Closing the Buyer becomes aware that any of the Warranties was at the date of this Agreement, or has
since become, untrue or misleading or that the Seller or CDC are in breach of any term of this Agreement, the Buyer shall be entitled to rescind this Agreement without incurring liability to the Seller or CDC. 

  

	10.2	Without prejudice to any other right or remedy of the Seller hereunder, if before Closing the Seller becomes aware that any of the Buyer Warranties was at the date of this
Agreement, or has since become, untrue or misleading or that the Buyer is in breach of any term of this Agreement, the Seller shall be entitled to terminate this Agreement without incurring liability to the Buyer. 

  

	10.3	The rights, including rights of rescission, conferred on the Buyer and Seller by this Agreement are in addition and without prejudice to all other rights and remedies available to
the Buyer and Seller; and no exercise or failure to exercise a right under this Agreement or otherwise or to invoke a remedy shall constitute a waiver of that right or remedy by the Buyer or Seller. 

  

	11.	GUARANTEE AND INDEMNITY BY CDC 

  

	11.1	In consideration of the Buyer entering into this Agreement, CDC hereby unconditionally and irrevocably guarantees to the Buyer the due and punctual performance and observance by the
Seller of all the Seller’s obligations, commitments, undertakings, warranties, indemnities and covenants under or pursuant to this Agreement and subject to the provisions of Clauses 9.1.7 and 9.1.8 agrees to indemnify the Buyer
and its Affiliates against all Losses, damages, costs and expenses (including reasonable legal costs and expenses) which the Buyer or any of its Affiliates may suffer through or arising from any breach by the Seller of such obligations, commitments,
warranties, undertakings, indemnities or covenants. The liability of CDC as aforesaid shall not be released or diminished by any arrangements or alterations of terms (whether of this Agreement or otherwise) or any forbearance, neglect or delay in
seeking performance of the obligations hereby imposed or any granting of time for such performance. 

  

	11.2	 If and whenever the Seller defaults for any reason whatsoever in the performance of any obligation or liability undertaken or expressed to be undertaken by the
Seller under or pursuant to this Agreement, CDC shall forthwith upon demand unconditionally perform (or procure performance of) and satisfy (or procure the satisfaction of) the obligation or liability in regard to which such default has been made in
the manner prescribed by this Agreement and so that the same benefits shall be conferred on the Buyer and its Affiliates as they would have received if such obligation or liability had 

  

 25 

	 	 
been duly performed and satisfied by the Seller. CDC hereby waives any right which it may have to require the Buyer to proceed first against or claim payment
from the Seller to the intent that as between the Buyer and CDC the latter shall be liable as principal debtor as if CDC had entered into all undertakings, agreements and other obligations jointly and severally with the Seller.

  

	11.3	This guarantee and indemnity is to be a continuing security to the Buyer for all obligations, commitments, warranties, undertakings, indemnities and covenants on the part of the
Seller under or pursuant to this Agreement notwithstanding any settlement of account or other matter or thing whatsoever. 

  

	11.4	This guarantee and indemnity is in addition to and without prejudice to and not in substitution for any rights or security which the Buyer may now or hereafter have or hold for the
performance and observance of the obligations, commitments, undertakings, covenants, indemnities and warranties of the Seller and CDC under or in connection with this Agreement. 

  

	11.5	CDC shall not, after any claim has been made pursuant to this Clause 11, claim from the Seller any sums which may be owing to them from the Seller or have the benefit of any
set-off counter-claim or proof against or dividend, composition or payment by the Seller until all sums owing to the Buyer in respect hereof shall have been paid in full. 

  

	11.6	As a separate and independent stipulation, CDC agree that any obligation expressed to be undertaken by the Seller under this Agreement (including, without limitation, any moneys
expressed to be payable under this Agreement) which may not be enforceable against or recoverable from the Seller by reason of any legal limitation, disability or incapacity of any of them or any other fact or circumstance shall nevertheless be
enforceable against or recoverable from CDC as though the same had been incurred by CDC and CDC was sole or principal obligor in respect thereof and shall be performed or paid by CDC on demand. 

  

	12.	WARRANTIES BY BUYER 

  

	12.1	The Buyer hereby warrants and represents to the Seller that the matter set forth below (“Buyer Warranties”) are true and accurate (a) as of the date of this
Agreement and (b) as of the Closing Date: 

  

	 	12.1.1	Corporate Status 

  

	 	(a)	the Buyer has been duly incorporated and constituted, and is legally subsisting under the laws of its place of incorporation; 

  

	 	(b)	there has been no resolution, petition or order nor has any step been taken for the winding-up of the Buyer and no receiver has been appointed in respect thereof or any part of the
assets thereof and no such resolutions, orders and appointments are imminent or likely nor are there any grounds upon which such resolutions, orders and appointments could be based; and 

  

	 	(c)	so far as the Buyer is aware after making all due enquires, no events or omissions which is not capable of remedy have occurred whereby the constitution subsistence or corporate
status of the Buyer has been or is likely to be adversely affected. 

  

 26 

	 	12.1.2	Insolvency 

  

	 	(a)	no order has been made and no resolution has been passed for the winding up of, or a provisional liquidator to be appointed in respect of, the Buyer and no petition has been
presented and no meeting has been convened for the purpose of winding up the Buyer; 

  

	 	(b)	no receiver has been appointed in respect of the Buyer; 

  

	 	(c)	the Buyer is not insolvent or unable to pay its debts within the meaning of the applicable legislation to which it is subject and the Buyer has not stopped paying its debts as they
fall due; 

  

	 	(d)	no event analogous to any of the foregoing has occurred in any jurisdiction outside Hong Kong; 

  

	 	(e)	no unsatisfied judgment is outstanding against the Buyer. 

  

	 	12.1.3	Authority of the Buyer 

  

	 	(a)	the Buyer has full power and authority to enter into and perform this Agreement and the provisions of this Agreement, when executed, will constitute valid and binding obligations on
the Buyer, in accordance with its terms; 

  

	 	(b)	the execution and delivery of, and the performance by the Buyer of its obligations under, this Agreement will not result in a breach of any order, judgment or decree of any court or
governmental agency to which the Seller or CDC is a party or by which it is bound. 

  

	 	12.1.4	The Buyer acknowledges that, in entering into this Agreement and in selling the Purchased Assets, the Seller has relied and will rely upon the Buyer Warranties given herein and the
Buyer Warranties as confirmed by the Buyer according to Clause 6.4 upon Closing. 

  

	 	12.1.5	The Buyer Warranties are given subject to the matters Disclosed in the Buyer Disclosure Letter. 

  

	 	12.1.6	Each of the Buyer Warranties shall be construed as a separate warranty and shall not be otherwise limited or restricted by reference to or inference from the terms of any other
Buyer Warranty. 

  

 27 

	 	12.1.7	The Buyer represents that the Buyer Warranties are true, accurate and complete at the date of this Agreement and, for this purpose, such Buyer Warranties shall be deemed to be
repeated at the Closing Date. 

  

	13.	MISCELLANEOUS 

  

	13.1	Where in this Agreement, any liability is undertaken by two or more persons, the liability of each of them shall be joint and several. 

  

	13.2	No party may assign or transfer, or purport to assign or transfer, any of its rights or obligations under this Agreement without prior written consent of the other parties (except
for an assignment or transfer by the Buyer to any of its Affiliates) and this Agreement shall be binding on and enure for the benefit of the parties’ successors, permitted assigns and personal representatives. In the event that an Affiliate of
the Buyer to whom the Buyer’s rights or obligations under this Agreement have been assigned, ceases to be an Affiliate of the Buyer, the Buyer shall promptly procure such entity to assign or transfer such rights or obligations back to the Buyer
(as the case may be). 

  

	13.3	This Agreement may be amended, supplemented or modified only by a written instrument duly executed by or on behalf of each party hereto. 

  

	13.4	This Agreement represents the entire understanding, and constitutes the whole agreement, in relation to its subject matter and supersedes any previous agreement between the parties
with respect thereto and, without prejudice to the generality of the foregoing, excludes any warranty, condition or other undertaking implied at law or by custom. 

  

	13.5	Each party confirms that, except as provided in this Agreement, no party has relied on any representation or warranty or undertaking which is not contained in this Agreement,
without prejudice to any liability for fraudulent misrepresentation, no party shall be under any liability or shall have any remedy in respect of misrepresentation or untrue statement unless and to the extent that a claim lies under this Agreement.

  

	13.6	Subject to the terms hereof so far as it remains to be performed this Agreement shall continue in full force and effect notwithstanding Closing. 

  

	13.7	The Seller shall after Closing execute all such deeds and documents and do all such things as the Buyer may require for perfecting the transactions intended to be effected under or
pursuant to this Agreement and for vesting in the Buyer the full benefit of the Purchased Assets. Furthermore, the parties hereto hereby agree to be bound by the provisions set forth in this Agreement even in the event that any provision set forth
herein were determined to be unenforceable or ineffective vis-à-vis third parties. 

  

	13.8	In the case that any provision or part of a provision of this Agreement is declared invalid, not binding or not enforceable, then, such declaration shall be effective only in
connection with such provision or part of a provision and therefore shall not impair the validity, binding effects and enforceability of the other parts of such provision and/or the other provisions of this Agreement. 

  

 28 

	13.9	The transfer of any Purchased Assets pursuant to this Agreement shall be together with all rights and benefits attached thereto as at the date of transfer and shall be free from all
liens, charges and Encumbrance. 

  

	13.10	This Agreement may be executed in any number of counterparts, each of which will be deemed an original, but all of which together will constitute one and the same instrument.
Facsimile or electronic signatures shall be treated as original signatures. 

  

	14.	CONFIDENTIALITY OF INFORMATION RECEIVED 

  

	14.1	The parties undertake with each other that they shall treat as strictly confidential all proprietary, non-public information received or obtained by them or their employees, agents
or advisers as a result of entering into or performing this Agreement including information relating to the provisions of this Agreement, the negotiations leading up to this Agreement, the subject matter of this Agreement or the business or affairs
of the Seller, the Buyer or any member of Aegis Group and that it will not at any time hereafter make use of or disclose or divulge to any person any such information without the consent of the other parties and shall use its best endeavours to
prevent the publication or disclosure of any such information. 

  

	14.2	The restrictions contained in Clause 14.1 shall not apply so as to prevent the parties from making any disclosure required by law or by any securities exchange or supervisory
or regulatory or governmental body pursuant to rules to which the parties are subject or from making any disclosure to any professional adviser for the purposes of obtaining advice (providing always that the provisions of this Clause 14 shall
apply to and the parties shall procure that they apply to and are observed in relation to, the use or disclosure by such professional adviser of the information provided to them) or from making any disclosure for the purpose of exercising their
rights or performing their obligations hereunder, nor shall the restriction apply in respect of any information which comes into the public domain otherwise than by a breach of this Clause 14 by any party. 

  

	15.	COSTS 

  

	 	(a)	The parties shall pay their own costs in connection with the preparation, negotiation, execution and completion of this Agreement. Notwithstanding the foregoing, the Buyer agrees to
pay 50% of the costs for preparation of the legal opinion by BVI and Cayman counsels required to be delivered by the Seller pursuant to Clause 6.2.1(h). 

  

	 	(b)	Any stamp or transfer duty or similar tax of and incidental to this Agreement and the transfer of the Purchased Assets hereunder shall be borne by the Seller absolutely. The Buyer
shall be entitled to deduct or withhold from the Purchase Price on account of such tax according to Clause 3.3. 

  

	16.	NOTICES 

  

	16.1	A notice, approval, consent or other communication in connection with this Agreement: 

  

	 	16.1.1	must be in writing; and 

  

 29 

	 	16.1.2	must be left at the address of the addressee, or sent by prepaid registered post (airmail if posted to or from a place outside Hong Kong) to the address of the addressee or sent by
facsimile to the facsimile number of the addressee which is specified in this clause or if the addressee notifies another address or facsimile number in Hong Kong then to that address or facsimile number. 

 The address and facsimile number of each party is: 
  

					
	 The Seller
	  		  	
			
	 Address
	  	:	  	c/o CDC Corporation
		  		  	33rd Floor, Citicorp Centre
		  		  	18 Whitfield Road
		  		  	Causeway Bay, Hong Kong
	 Facsimile
	  	:	  	852-2893-5245
	 Attn
	  	:	  	Legal Department
			
	 CDC
	  		  	
	 Address
	  	:	  	2 Concourse Parkway
		  		  	Ste 800
		  		  	Atlanta GA 30328
	 Facsimile
	  	:	  	678-259-8737
	 Attn
	  	:	  	General Counsel
			
	 The Buyer
	  		  	
			
	 Address
	  	:	  	5th Floor Dongnam Building,
		  		  	997-11 Daechi-Dong, Gangnam-Gu,
		  		  	Seoul 135-502, Korea
	 Facsimile
	  	:	  	82 2 2017 9299
	 Attention
	  	:	  	Representative Director
			
	 With a copy to
	  	:	  	
			
	 Address
	  	:	  	152 Beach Road, #36-05 Gateway East, Singapore 189721
	 Facsimile
	  	:	  	(65) 6396 5945
	 Attn
	  	:	  	Chief Financial Officer, Asia Pacific, Aegis Media
			
	 and
	  		  	
			
	 Address
	  	:	  	Three Park Avenue, 32nd Floor, New York, NY 10016 USA
	 Facsimile
	  	:	  	1 310 907 1345
	 Attn
	  	:	  	Head of Legal Affairs, Aegis Media

  

 30 

	16.2	A notice, approval, consent or other communication shall take effect from the time it is received (or, if earlier, the time it is deemed to be received in accordance with Clause
16.3) unless a later time is specified in it. 

  

	16.3	A letter or facsimile is deemed to be received: 

  

	 	16.3.1	in the case of a posted letter, unless actually received earlier, on the third (seventh, if posted to or from a place outside Hong Kong) day after posting; and

  

	 	16.3.2	in the case of facsimile, on production of a transmission report from the machine from which the facsimile was sent which indicates that the facsimile was sent in its entirety to
the facsimile number of the recipient. 

  

	17.	GOVERNING LAW AND ARBITRATION 

  

	17.1	This Agreement shall be governed by, and construed in accordance with, Hong Kong law. 

  

	17.2	Arbitration 

  

	 	17.2.1	Any and all disputes arising out of or in connection with the negotiation, execution, interpretation, performance or non-performance of this Agreement shall be solely and finally
settled in accordance with the Rules of Arbitration of the International Chamber of Commerce (the “ICC Rules”) by one or more arbitrators appointed in accordance with the ICC Rules. The parties agree that the award of the
arbitrators shall be the sole and exclusive remedy between them regarding any claims, counterclaims, issues or accountings presented to the arbitrators, irrespective of the magnitude thereof. 

  

	 	17.2.2	All arbitration proceedings shall be conducted in the English language pursuant to the ICC Rules. The arbitration shall take place in Hong Kong or such other place as the parties
may mutually agree in writing. The parties hereto agree to facilitate the arbitration by (i) making available to each other and to the arbitrators all documents, books, records and personnel under their control as the arbitrators shall
determine to be relevant to the dispute; (ii) conducting arbitration hearings to the greatest extent possible on successive, contiguous days; and (iii) observing strictly the time periods established by the ICC Rules or by the arbitrators
for the submission of evidence and briefs. 

  

	 	17.2.3	Any decision or award of the arbitral tribunal shall be final and binding upon the parties to the arbitration proceeding. The parties hereby waive to the fullest extent permitted by
law any rights to appeal or to review such award by any court or tribunal. The parties agree that the arbitral award may be enforced against the parties to the arbitration proceeding or their assets wherever they may be found and that a judgement on
the arbitration award may be entered in any court having jurisdiction over the parties or their assets. 

  

	 	17.2.4	Notwithstanding anything herein contained, either party shall be entitled to seek injunctive relief, if possible, from any court of competent jurisdiction to protect its rights
under this Agreement pending the constitution of the arbitral tribunal pursuant to this Clause 17.2. 

  

 31 

 IN WITNESS WHEREOF the parties hereto have caused this Agreement to be signed on their behalf in the places and on
the date hereinafter written. 
  

					
	The Seller	  		  	
			
	 SIGNED by /s/ Mike Latimore
	  	)	  	Mike Latimore for and on behalf of
	 on behalf of CHINADOTCOM STRATEGIC, INC.
	  	)	  	Babington Services Limited, Director
	 in the presence of:
	  	)	  	of chinadotcom Strategic, Inc.
			
	The Buyer	  		  	
			
	 SIGNED by /s/ Yunsang Oh
	  	)	  	
	 on behalf of CARAT KOREA CO., LTD.
	  	)	  	
	 in the presence of: /s/ Yunsang Oh
	  	)	  	
			
	CDC	  		  	
			
	SIGNED by	  	)	  	/s/ Simon Wong
	 on behalf of CDC SOFTWARE CORPORATION
	  	)	  	
	 in the presence of:    /s/ Nicole Lo
	  	)	  	

  

 32

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