Document:

exv10w11

Exhibit 10.11

			
	 	 	 
	Strictly Confidential
	 	Execution Copy

STOCK TRANSFER AGREEMENT

     THIS STOCK TRANSFER AGREEMENT (the “Agreement”) is made and entered into
as of January 23, 2008 at Dalian by and among:

     (i) Dalian Huahui Sci-Tech Company Limited , a company established under the laws
of the PRC (“Seller”),

     (ii) Dalian Borui Information Technology Co., Ltd. , a company duly organized and
existed under the laws of the PRC (“Buyer”),

     (iii) LI Yuanming , a PRC citizen, whose PRC ID card number is
21021119560326581x,

     (iv) HiSoft Technology (Dalian) Co., Ltd. , a wholly-foreign owned
enterprise established by HiSoft International (as defined below) under the laws of the People’s
Republic of China (“HiSoft WFOE”), and

     (v) HiSoft Technology International Limited, an exempted company
duly incorporated and validly existing under the laws of the Cayman Islands (“HiSoft
International”).

RECITALS

     A. Seller owns of record and beneficially 40% shares of the entire
issued and outstanding Common Stock (the “Stock’’) of JBDK Co., Ltd., a Japanese Kabushiki Kaisha
(the “Company”);

     B. Buyer is an entity controlled by LI Yuanming ;

     C. According
to a Binding Memorandum of Understandings among Seller, LI
Yuanming, HiSoft WFOE and HiSoft International, dated September 30, 2007 (the “MOU”), LI
Yuanming shall designate an entity to purchase from Seller, 40% shares of the Stock;

     D. Buyer, as the entity designated by LI Yuanming, desires to purchase from Seller,
and Seller desires to sell to Buyer, 40% shares of the Stock.

AGREEMENT

     The parties hereby agree as follows:

1. Purchase and Sale of Shares.

1.1
Purchase and Sale. Subject to the terms and conditions of this Agreement, at the
Closing (as hereinafter defined), Seller agrees to sell and transfer to Buyer, and Buyer agrees
to purchase from Seller, one hundred and sixty (160) shares of the Stock, with par value of
JPY50,000 each (the “Transfer Shares”), for a total purchase price of US$1.

					
	 	 	 	 	 
	 	 	 	 	 
	JBDK Stock Transfer Agreement
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	Strictly Confidential
	 	Execution Copy

1.2 Effect of Transfer. Notwithstanding anything to the contrary herein, to the
extent permitted by the Japanese law, the parties hereby agree that,
as of January 1, 2008,
all the beneficial interest of the Transfer Shares shall be transferred to Buyer, and that
all obligations and liabilities in relation to the Transfer Shares shall be assumed by
Buyer.

1.3 Closing. The closing of the purchase and sale of the Transfer Shares (the
“Closing”)
shall take place at such time and place as parties shall agree in writing, provided that the date of
Closing (the “Closing Date”) shall not be later than March 31, 2008 or the closing date of the
transfer of the shares in Seller to the persons designated by HiSoft International as contemplated
under the MOU, whichever is later (the “Target Date’’), except as otherwise provided under
Section 2.2 hereof.

2. Undertakings.

2.1 Li
Yuanming and Buyer covenant to work closely with Seller to obtain any consent,
approval or waiver from, and complete any registration, filing or any other procedure with, any
governmental authority of the People’s Republic of China (the “PRC”), as applicable.

2.2 Until the termination of the MOU, in case of failure by LI Yuanming and Buyer of
obtaining the consent of , the other shareholder of the
Company, of the transfer of the Transfer Shares contemplated hereunder or failure to obtain any
consent, approval or waiver from, and complete any registration, filing or any other procedure
with, any governmental authority of the PRC by the Target Date, Seller agrees to (i) hold the
Transfer Shares for the benefits of LI Yuanming, (ii) vote in its capacity as the holder of the
Transfer Shares in respect of activities of the Company as designated by LI Yuanming, and (iii)
transfer to Buyer the dividends or any other economic benefits which a shareholder will be
entitled to and may be distributed by the Company to Seller within 15 business days following
obtainment of such funds after deduction of relevant taxes and government fees, in each case to
the extent permitted by the laws of Japan and PRC, and provided that (i) either LI Yuanming or
Buyer may not breach any other provision hereof, (ii) LI Yuanming may not breach any
provision of the MOU, and (iii) Buyer may not breach any provision of any other agreement
entered into contemplated under the MOU.

2.3 In the event of the situation contemplated by Section 2.2, Buyer and Seller shall enter
into a trust agreement within 15 business days after their awareness of the event. Seller shall
assure that Buyer will, as the beneficial owner of the Stock, enjoy all legal benefits that it
may be
entitled to within the existence period of the Company. Seller can only act as a trustee and
cannot
exercise the rights of shareholder of the Company without the written authorization of Buyer,
provided that (i) Buyer shall reimburse Seller fully and timely for any damage or liability that
Seller may suffer from action as authorized by Buyer, (ii) Buyer shall reimburse Sell for the
expenses that may be incurred by Seller for the purpose of conducting any action as authorized
by Buyer in advance or later after payment as requested by Seller; (iii) the written
authorization of Buyer shall be clear and be delivered in a timely way, and shall comply
with applicable laws and regulations.

					
	 	 	 	 	 
	 	 	 	 	 
	JBDK Stock Transfer Agreement
	 	-2-
	 	 

 

 

			
	Strictly Confidential
	 	Execution Copy

2.4 Buyer can assign the rights under this Agreement by giving 15 business days’ notice to
Seller without Seller’s prior consent. The party designated by Buyer will be entitled to all the
rights that Buyer may otherwise have under this Agreement.

2.5 LI Yuanming and Buyer covenant to use their best efforts to have the Company accept
services from HiSoft WFOE or any other affiliates of HiSoft International if the Company needs
IT services that HiSoft WFOE and other affiliates of HiSoft International can provide.

3. Miscellaneous.

3.1 Governing Law. This Agreement shall be governed in all respects by the laws of Hong
Kong, to the extent permissible under Japanese law.

3.2 Amendments. No amendment or modification of the terms and conditions of this
Agreement shall be valid unless in writing and signed by the parties hereto.

3.3 Entire Agreement. This Agreement and the MOU constitute the entire agreement among
the parties with respect to the transactions contemplated hereby. The terms of this Agreement
and the MOU supersedes all prior agreements, understandings, negotiations and representations
among the parties with respect to such transactions.

3.4 Waiver. Either party’s failure to enforce any provision of this Agreement shall not in any
way be construed as a waiver of any such provision, or prevent that party thereafter from
enforcing each and every other provision of this Agreement.

3.5 Severable Provisions. The provisions of this Agreement are severable, and if any one or
more provisions may be determined to be unenforceable, in whole or in part, the remaining
provisions shall nevertheless be binding and enforceable.

3.6 Counterparts and Language. This Agreement may be executed in one or more
counterparts, each of which shall be deemed an original but all of which together shall
constitute
one and the same instrument. This Agreement shall be executed in both English and Chinese
version. The Chinese version shall prevail in case of any inconsistency.

3.7 Further Assurances. Each party shall execute and deliver such additional
instruments,
documents and other writings as may be reasonably requested by the other party, before or
after
the Closing, in order to confirm and carry out and to effectuate fully the intent and purposes of
this Agreement.

3.8 Expenses. The parties shall each bear their own expenses and legal fees incurred in
connection with this Agreement and the transactions contemplated hereby.

3.9 Dispute Resolution.

          (i) Any dispute or controversy arising out of, relating to, or concerning any
interpretation, construction, performance or breach of this Agreement, shall be submitted to the
China International Economic And Trade Arbitration Commission (“CIETAC) for arbitration.

					
	 	 	 	 	 
	 	 	 	 	 
	JBDK Stock Transfer Agreement
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	Strictly Confidential
	 	Execution Copy

          (ii) The
arbitration shall be conducted in Beijing in accordance with the then
applicable arbitration rules of CIETAC.

          (iii) There shall be three (3) arbitrators. One arbitrator shall be selected
collectively by Buyer and Li Yuanming; one arbitrator shall be
selected collectively by Seller,
HiSoft WFOE and HiSoft International; and the third arbitrator shall be assigned by CIETAC
in
accordance with the then applicable arbitration rules of CIETAC.

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

          (v) The arbitration award shall be final and binding upon the parties
hereto.

3.10 Confidentiality.

          (i) Each of the parties hereto agrees to keep secret and confidential and not to
disclose or divulge to any third party or to enable or cause any person to become aware of any
confidential information relating to the Company, including but not limited to terms and
conditions of this Agreement, and the transactions contemplated hereby but excluding any
information which is in the public domain (otherwise than through the wrongful disclosure of
any party) or which they are required to disclose by law or by the rules of any regulatory
body to
which the Company or any party hereto is subject.

          (ii) The provisions of this Section 3.10 shall terminate and supersede the provisions of
any separate nondisclosure agreement executed by any of the Parties with respect to the
transactions contemplated hereby.

3.11 Notice. All notices and other communications given or made pursuant to this
Agreement
shall be in writing and shall be deemed effectively given: (a) upon personal delivery to the
party
to be notified, (b) when sent by confirmed facsimile if sent during normal business hours of the
recipient, and if not so confirmed, then on the next business day, (c) five (5) days after having
been sent by registered or certified mail, return receipt requested, postage prepaid, or (d) one
(1)
day after deposit with a nationally recognized overnight courier, specifying next day delivery,
with written verification of receipt. All communications shall be sent to Mr. Li Yuanming, No.
35 Lixian Street, Hi-Tech Zone, Dalian, China, 116023, Fax: +86-411-84792822 for Buyer and
Li Yuanming, to Ms. Zhang Wei, No. 33 Lixian Street, Hi-Tech Zone, Dalian, China, 116023,
Fax: +86-411-84791350 for Seller and to Mr. Lim Heng Choon, 6/F, Haya Plaza, No. 1, Shangdi
East Road, Haidian District, Beijing 100085, China, fax: +86-10-59875588 for HiSoft WFOE
and HiSoft International as the case may be, or to such facsimile number or address as
subsequently modified by written notice given in accordance with this
Section 3.11.

[The remainder of this page has been intentionally left blank]

					
	 	 	 	 	 
	 	 	 	 	 
	JBDK Stock Transfer Agreement
	 	-4-
	 	 

 

 

	Seller:
Dalian Huahui Sci-Tech Company Limited
(corporate chop)
Name: Wang Jiuchang () :
Title: Authorized Representative

	Buyer:

	Dalian Borui Information Technology Co., Ltd.

	()(corporate chop)

	By: Name: LI Yuanmjng ()
Title: Legal Representative

	LI Yuanming() SIGNATURE PAGE TO
JBDK STOCK TRANSFER AGREEMENT

 

 

	HiSoft WFOE: HiSoft Technology (Dalian) Co.,
Ltd.

	() (corporate chop)

	By: Name: Loh Tiak Koon

	Title: Legal Representative

	HiSoft International:

	HiSoft Technology International Limited

	Bv: Name: Loh Tiak Koon

	Title: CEO .exv10w12

Exhibit 10.12

TRANSLATION FOR REFERENCE ONLY

AGREEMENT CONCERNING CHANGE OF THE PROMOTER OF

DALIAN HAIHUI SOFTWARE TRAINING CENTER

This Agreement (this “Agreement”) is entered into by and among the following parties on
January 23, 2008:

	1.	 	HiSoft Technology International Limited, a company incorporated under the laws of Cayman
Islands with its registered address at Cricket Square, Hutchins Drive, P.O. Box 2681, Grand
Cayman KY1-1111, Cayman Islands (“HiSoft International”);
	 
	2.	 	Dalian Haihui Sci-Tech Co., Ltd., a company limited by shares incorporated under the laws of
the PRC with its registered address at No. 35 Lixian Street, Dalian City, PRC (“Haihui
Dalian”);
	 
	3.	 	Yuanming Li, a PRC citizen with his ID Card No. being 21021119560326581x;
	 
	4.	 	Dalian Borui Information Technology Co., Ltd., a limited liability company incorporated under
the laws of the PRC with its controller of Yuanming Li and registered address at No. 35 Lixian
Street, Dalian City, PRC (“Dalian Borui”).

WHEREAS,

A. In accordance with the Binding Memorandum of Understanding dated September 30, 2007 among
Yuanming Li, Haihui Dalian, HiSoft Technology (Dalian) Co., Ltd. and HiSoft International (the
“Memorandum”), Haihui Dalian agrees that the promoter of Dalian Haihui Software Training Center
(the “Training Center”) is changed to the third party controlled by Yuanming Li and ratified by
HiSoft International (the “Proposed Change”) and such third party will continue the promotion and
operation of the Training Center;

B. On the premise of the due performance of the Memorandum, HiSoft International agrees that the
promoter of the Training Center is changed into the third party designated by Yuanming Li, i.e.
Dalian Borui.

The parties hereby agree as follows:

Article 1 Change Procedures

	1.1	 	The parties agree to cooperate with each other to cause Haihui Dalian to apply for and
complete all governmental procedures (including but not limited to approval by Dalian
Education Bureau of the Proposed Change and the filing of the Proposed Change with Dalian
Civil Affairs Bureau) as soon as practical after the signing of this Agreement but no later
than March 31, 2008 so that the promoter of the Training Center will have been changed from
Haihui Dalian to Dalian Borui. The parties agree to provide HiSoft International with
evidentiary materials satisfactory to HiSoft International.
	 
	1.2	 	For the smooth completion of the Proposed Change, Haihui Dalian and Dalian Borui shall
complete all necessary internal authorization procedures immediately after the signing of this
Agreement and adopt proper resolutions.

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TRANSLATION FOR REFERENCE ONLY

	1.3	 	For the purpose of the Proposed Change, Haihui Dalian shall engage an accounting firm
recognized by the parties. In accordance with applicable laws and regulations, such firm
shall issue a financial liquidation report in the substance and form satisfactory to the
parties.

Article 2 Consideration

Dalian Borui shall, and Yuanming Li shall cause Dalian Borui to, pay Haihui Dalian the
consideration in the amount of RMB812,346 (the “Consideration”). Dalian Borui shall pay off the
Consideration in a lump sum on the signing date hereof. Subject to prior expressive notice given
to Haihui Dalian and HiSoft International, Dalian Borui may designate a third party to pay the
Consideration to Haihui Dalian.

Article 3 Further Covenants

	3.1	 	Each party shall further sign documents and take further actions, which are reasonably
necessary for the full implementation of this Agreement.
	 
	3.2	 	The parties agree that, from January 1, 2008, all costs, expenses and fees incurred by the
Training Center shall be borne by Dalian Borui and all revenue generated by the Training
Center shall belong to Dalian Borui in accordance with relevant laws and regulations. Costs,
expenses and fees generated during the period, from January 1, 2008 to the date on which the
Proposed Change is completed and Dalian Borui is formally registered as the promoter of the
Training Center, shall be borne by the Training Center out of its own assets. In no event
shall HiSoft International or Haihui Dalian be liable for such costs, expenses or fees.
	 
	3.3	 	In consideration of the fact that Yuanming Li holds 96% of the shares in Haihui Dalian as of
the date hereof, Yuanming Li hereby agrees to bear joint and several liability for Haihui
Dalian’s performance of its obligations hereunder during the period in which Yuanming Li holds
 shares in Haihui Dalian.
	 
	3.4	 	Yuanming Li shall bear joint and several liability for Dalian Borui’s obligations hereunder.
	 
	3.5	 	The parties undertake that the purpose of the Proposed Change is limited to the change of the
promoter of the Training Center. During the process of the Proposed Change, the parties shall
cooperate with each other to cause the Training Center to continue normal operation.

Article 4 Notices

	4.1	 	Any notice, request, demand and other communication required by this Agreement or made in
accordance with this Agreement shall be delivered to relevant parties in writing based on the
following information:
	 
	 	 	If to HiSoft International and Haihui Dalian:
	 
	 	 	Address: 6/F, HaYa Plaza, No. 1 Shangdi East Road, Haidian District, Beijing (100085)
	 
	 	 	Attention: Heng Choon Lim
	 
	 	 	Facsimile: 010-59875588

2

 

TRANSLATION FOR REFERENCE ONLY

	 	 	If to Yuanming Li and Dalian Borui:
	 
	 	 	Address: No. 35 Lixian Street, High-Tech Industrial Zone, Dalian City (116023)
	 
	 	 	Attention: Yuanming Li
	 
	 	 	Facsimile: 0411-84792822
	 
	4.2	 	The above notices or other communications shall be deemed to have been given upon delivery if
sent by facsimile; upon receipt if delivered by hand; three (3) days after mailing if sent by
mail.

Article 5 Liabilities for Breach of Contract

If any party violates any provision hereof, the breaching party shall compensate the non-breaching
party for all costs, expenses, losses and liabilities suffered or incurred therefrom.

Article 6 Termination

	6.1	 	The parties acknowledge that they sign and perform this Agreement in accordance with the
Memorandum. Dalian Borui hereby acknowledges that it is fully aware of and understands the
contents of the Memorandum and agrees that HiSoft International or Haihui Dalian may promptly
request to suspend or early terminate the Proposed Change hereunder if Yuanming Li violates
any provision of the Memorandum.
	 
	6.2	 	Except as otherwise stipulated by this Agreement, this Agreement shall be terminated or
rescinded in accordance with the following provisions under any of the following
circumstances:

	 	(1)	 	the parties agree to terminate this Agreement in writing;
	 
	 	(2)	 	if either Yuanming Li and Dalian Borui (as one party) or HiSoft International and
Haihui Dalian (as the other party) materially breaches any covenant, agreement, term or
condition hereof and fails to rectify the breach within thirty (30) days after the other
party gives a written notice, the non-breaching party may terminate this Agreement;
	 
	 	(3)	 	if any force majeure event results in any party’s failure to perform its obligations
or liabilities hereunder for a period in excess of thirty (30) days, any party shall have
the right to terminate this Agreement;
	 
	 	(4)	 	if any transaction contemplated under the Memorandum, including the Proposed Change
stipulated herein, fails to be completed as of March 31, 2008, unless (i) the parties
otherwise come to an agreement in writing, (ii) the Memorandum otherwise expressly
stipulates, or (iii) the parties to the Memorandum agree in writing to continue the
Proposed Change hereunder, this Agreement shall be rescinded automatically and the parties
agree to take all necessary actions to cancel and revoke all completed or ongoing
transactions.

	6.3	 	After the termination of this Agreement, no party shall assume any further obligations
hereunder to the other parties but each party shall be subject to Article 6.2 and the
following provisions:

3

 

TRANSLATION FOR REFERENCE ONLY

	 	(1)	 	termination shall not release any party from its liability for breach of contract;
	 
	 	(2)	 	termination shall not release any party from its obligations to be performed after
the termination of this Agreement in accordance with provisions thereof;
	 
	 	(3)	 	termination shall not release any party from its obligations or liabilities accrued
prior to such termination or in connection with such termination.

Article 7 Expenses and Taxation

	7.1	 	The parties shall pay their respective expenses, costs and fees in connection with the
preparation, signing and implementation of this Agreement.
	 
	7.2	 	The parties shall be liable for the payment of any payable taxes arising from the Proposed
Change in accordance with this Agreement. The parties shall be liable for the payment of
stamp duty (if applicable) payable in connection with the originals of this Agreement held by
them.

Article 8 Survival

Obligations contained herein shall survive the completion of the Proposed Change except for the
parts already performed and unless otherwise stipulated by this Agreement.

Article 9 Confidentiality Obligation

Unless the parties otherwise agree in writing, no party may, directly or indirectly, or allow other
parties to, disclose to any third party (i) the existence and the contents of this Agreement, or
discussion of the transactions contemplated hereby; (ii) any term or condition hereof, or any
aspect of the transactions contemplated hereby; or (iii) the implementation of this Agreement;
except for disclosure (a) to any advisor, agent, shareholder, limited partner, director or officer
of a party, (b) to any financial institution or bank whose consent or funding is required for the
transactions contemplated hereby, (c) to the shareholders of each party, (d) mandatorily required
by judicial and administrative proceedings or other laws, and (e) required by the governmental
authority, regulatory body or stock exchange of competent jurisdiction over a party (or its parent
company) and the transactions contemplated hereby.

Article 10 Dispute Resolution

Any disputes arising from or in connection with this Agreement, including the dispute regarding the
validity or existence of this Agreement, shall be submitted to the China International Economic and
Trade Arbitration Commission (“CIETAC”) for arbitration in Beijing in accordance with the then
effective arbitration rules of CIETAC. The arbitration tribunal shall consist of three (3)
arbitrators familiar with applicable corporate and commercial legal affairs. One (1) arbitrator
shall be appointed by HiSoft International, one (1) arbitrator shall be appointed by Yuanming Li
and one (1) arbitrator shall be appointed by CIETAC chairman as jointly entrusted by HiSoft
International and Yuanming Li in accordance with applicable CIETAC rules. The arbitral award shall
be final and binding upon the parties in dispute.

Article 11 Counterparts

4

 

TRANSLATION FOR REFERENCE ONLY

This Agreement shall be made in seven (7) counterparts, with the parties hereto, the Training
Center, the competent education authority of the Training Center and the civil affairs registration
authority holding one (1) original respectively. To meet the demand for the completion of
governmental examination and approval/filing procedures in connection with the Proposed Change, the
parties may prepare originals in addition to said originals.

Article 12 Effectiveness

This Agreement shall become effective and binding on the parties from the date hereof.

Article 13 Amendment

This Agreement shall be amended by the parties or their duly authorized representatives in writing
and become effective upon signing.

Article 14 Assignment

Without prior consent of the other parties, no party shall assign or attempt to assign any of its
rights or obligations hereunder. However, by notifying Haihui Dalian and HiSoft International in
writing thirty (30) days in advance, Dalian Borui shall have the right to assign any of its rights
or obligations hereunder to its designated third party. Under such circumstance, the parties agree
to change the promoter of the Training Center into the third party designated by Dalian Borui.

Article 15 Severability

The invalidity, illegality or unenforceability of any provisions hereof shall not affect the other
provisions hereof.

Article 16 Entire Agreement

This Agreement and the Memorandum shall constitute the entire agreement regarding the Proposed
Change among the parties. Any prior intentions and understandings expressed and discussions,
representations, warranties, covenants or undertakings (either express or implied, either written
or oral) made by a party or its agents to the other parties or their agents for this transaction
shall be superseded by this Agreement and the Memorandum.

IN WITNESS WHEREOF, the parties have caused this Agreement to be duly signed as of the date first
above written.

[remainder of this page has been intentionally left blank]

5

 

TRANSLATION FOR REFERENCE ONLY

     IN WITNESS WHEREOF, the parties have signed and delivered this Agreement in Dalian City, PRC
as of the date first above written.

	 	 	 	 	 
	HISOFT TECHNOLOGY INTERNATIONAL LIMITED

 	 	 
	By:  	/s/ Loh Tiak Koon
 	 	 
	 	Name:  	Loh Tiak Koon 	 	 
	 	Title:  	CEO 	 	 
	 
	Dalian Haihui Sci-Tech Co., Ltd. (Seal)

[COMPANY SEAL]

 	 	 
	By:  	/s/ Jiuchang Wang
 	 	 
	 	Name:  	Jiuchang Wang 	 	 
	 	Title:  	Authorized Representative 	 	 
	 
	Yuanming Li

 	 	 
	By:  	/s/ Yuanming Li
 	 	 
	 	 	 	 
	 	 	 	 
	 
	Dalian Borui Information Technology Co., Ltd. (Seal)

[COMPANY SEAL]

 	 	 
	By:  	/s/ Yuanming Li
 	 	 
	 	Name:  	Yuanming Li 	 	 
	 	Title:  	Legal Representative 	 	 
	 

6

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