Document:

PI Services, Inc. - Exhibit 10-e

EQUITY PLEDGE AGREEMENT

  (English Translation) 

            This Equity
Pledge Agreement (hereinafter this "Agreement") is dated 01/05/2010, and is entered
into between SKY ACHIEVE HOLDING LIMITED, a company incorporated under the laws
of British Virgin Islands ("Pledgee"), and each of the shareholders of Party B
listed on Appendix 3 and the signature pages hereto (collectively, the "Pledgors"),
a company with joint stock limited liability registered in Beijing, China. 

 
 RECITALS 

 

              1.
The Pledgee, a joint stock limited liability company registered in British Virgin
Islands, has been licensed by the British Virgin Islands relevant government authority
to carry on the business of business consulting. (Except the items not obtained
the specified approval). 

            2. Each
Pledgors are the citizens of PRC. The Pledgors collectively own over 100% of the
outstanding equity interests of Beijing Guoqiang Global Science Technology Development
Limited. (BGGSTDL). 

            3. Pledgee
and BGGSTDL executed a Consulting Services Agreement (hereinafter "Consulting
Services Agreement" or "Services Agreement") concurrently herewith, and such agreement
has a term of 10 years. Based on this agreement, BGGSTDL shall pay technical consulting
and service fees (hereinafter the "Consulting Services Fees" or "Services Fees")
to Pledgee for offering consulting and related services. 

            4. In
order to ensure that BGGSTDL will perform its obligations under the Consulting
Services Agreement, and the Pledgee can normally collect the Consulting Services
Fees from BGGSTDL, the Pledgors agree to pledge all their equity interest in BGGSTDL
as security for the performance of the obligations of BGGSTDL under the Consulting
Services Agreement and the payment of Consulting Services Fees under such agreement.

            NOW
THEREFORE, the Pledgee, BGGSTDL and the Pledgors through mutual negotiations
hereby enter into this Agreement based upon the following terms: 

1. Definitions and Interpretation. Unless otherwise provided in this Agreement,
the following terms shall have the following meanings: 

            1.1 "Pledge"
refers to the full content of Section 2 hereunder. 

            1.2 "Equity
Interest" refers to all the equity interest in BGGSTDL legally held by the Pledgors.

            1.3 "Term
of Pledge" refers to the period provided for under Section 3.2 hereunder. 

            1.4 "Event
of Default" refers to any event in accordance with Section 7.1 hereunder. 

            1.5 "Notice
of Default" refers to the notice of default issued by the Pledgee in accordance
with this Agreement. 

  

2. Pledge. The Pledgors agree to pledge their equity interest in BGGSTDL to the
Pledgee ("Pledged Collateral") as a security for the obligations of BGGSTDL under
the Consulting Services Agreement. Pledge under this Agreement refers to the rights
owned by the Pledgee, who shall be entitled to a priority in receiving payment
by the evaluation or proceeds from the auction or sale of the equity interest
pledged by the Pledgors to the Pledgee. 

3. Term of Pledge. 

                        3.1
The Pledge shall take effect as of the date when the equity interest under this
Agreement is recorded in the Register of Shareholder of BGGSTDL. The term of the
Pledge shall be for two (2) years after the obligations under the Consulting Services
Agreement will have been fulfilled. The parties agree that, if situations allow,
they will use their best efforts to register the pledge with the competent Administration
for Industry and Commerce at the registration venue of BGGSTDL. 

                        3.2
During the term of the Pledge, the Pledgee shall be entitled to vote, control,
sell, or dispose of the pledged assets in accordance with this Agreement in the
event that Pledgors do not perform their obligation under the Consulting Services
Agreement and BGGSTDL fails to pay exclusive technology consulting service fee
in accordance with the Consulting Services Agreement. 

4. Physical Possession of Documents. 

                        4.1
During the term of Pledge under this Agreement, the Pledgors shall deliver the
physical possession of their certificates representing shares of capital stock
of BGGSTDL ("Share Certificates") to the Pledgee within one (1) week as of the
date of conclusion of this Agreement. 

                        4.2
The Pledgee shall be entitled to collect the dividends for the equity interest.

                        4.3
The Pledge under this Agreement will be recorded in the Register of Shareholders
of BGGSTDL. 

5. Representation and Warranties of Pledgors. 

            5.1 The
Pledgors are the legal owners of the equity interest pledged. 

            5.2 The
Pledgors have not pledged the equity interest to any other party, and or the equity
interest is not encumbered to any other person except for the Pledgee. 

6. Covenants of Pledgors. 

            6.1 During
the effective term of this Agreement, the Pledgors promise to the Pledgee for
its benefit that the Pledgors shall: 

                                    6.1.1
Not transfer or assign the equity interest, create or permit to create any pledges
which may have an adverse effect on the rights or benefits of the Pledgee without
prior written consent from the Pledgee; 

 

                                    6.1.2
Comply with and implement laws and regulations with respect to the pledge of rights;
present to the Pledgee the notices, orders or suggestions with respect to the
Pledge issued or made by the competent authority within five (5) days upon receiving
such notices, orders or suggestions; and comply with such notices, orders or suggestions;
or object to the foregoing matters at the reasonable request of the Pledgee or
with consent from the Pledgee; 

                                    6.1.3
Timely notify the Pledgee of any events or any received notices which may affect
the Pledgor's equity interest or any part of its right, and any events or any
received notices which may change the Pledgor's any warranty and obligation under
this Agreement or affect the Pledgor's performance of its obligations under this
Agreement. 

            6.2 The
Pledgors agree that the Pledgee's right to the Pledge obtained from this Agreement
shall not be suspended or inhibited by any legal procedure launched by the Pledgor
or any successors of the Pledgor or any person authorized by the Pledgor or any
such other person. 

            6.3 The
Pledgors promise to the Pledgee that in order to protect or perfect the security
for the payment of the Services Fees, the Pledgors shall execute in good faith
and cause other parties who have interests in the pledge to execute all the title
certificates, contracts, and perform actions and cause other parties who have
interests to take action, as required by the Pledgee; and make access to exercise
the rights and authorization vested in the Pledgee under this Agreement. 

            6.4 The
Pledgors promise to the Pledgee that they will execute all amendment documents
(if applicable and necessary) in connection with any transfer of the Share Certificates
with the Pledgee or its designated person (natural person or a legal entity),
and provide the notice, order and decision to the Pledgee by who considers to
be necessary within reasonable time. 

            6.5 The
Pledgors promise to the Pledgee that they will comply with and perform all the
guarantees, covenants, warranties, representations and conditions for the benefits
of the Pledgee. The Pledgors shall compensate all the losses suffered by the Pledgee
for the reasons that the Pledgors do not perform or fully perform their guarantees,
covenants, warranties, representations and conditions. 

7. Events Of Default. 

            7.1 The
following events shall be regarded as the events of default: 

                                    7.1.1
This Agreement is deemed illegal by a governing authority in the PRC, or the Pledgor
is not capable of continuing to perform the obligations herein due to any reason
except force majeure; 

                                    7.1.2
BGGSTDL fails to make full payment of the Services Fees as scheduled under the
Service Agreement; 

                                    7.1.3
A Pledgor makes any material misleading or mistaken representations or warranties
under Section 5 herein, and/or the Pledgor breaches any warranties under Section
5 herein; 

                                    7.1.4
A Pledgor breaches the covenants under Section 6 herein; 

                                    7.1.5
A Pledgor breaches the term or condition herein; 

 

                                     7.1.6
A Pledgor waives the pledged equity interest or transfers or assigns the pledged
equity interest without prior written consent from the Pledgee; 

                                    7.1.7
BGGSTDL is incapable of repaying the general debt or other debt; 

                                    7.1.8
The property of the Pledgor is adversely affected causing the Pledgee to believe
that the capability of the Pledgor to perform the obligations herein is adversely
affected; 

                                    7.1.9
The successors or agents of the BGGSTDL are only able to perform a portion of
or refuse to perform the payment obligations under the Service Agreement; 

                                    7.1.10
The breach of the other terms by action or inaction under this agreement by the
Pledgor. 

            7.2 The
Pledgor shall immediately give a written notice to the Pledgee if the Pledgor
is aware of or discovers that any event under Section 7.1 herein or any event
that may result in the foregoing events has occurred or is likely to occur. 

            7.3 Unless
the event of default under Section 7.1 herein has been solved to the Pledgee's
satisfaction, the Pledgee, at any time when the event of default occurs or thereafter,
may give a written notice of default to the Pledgor and require the Pledgor to
immediately make full payment of the outstanding Service Fees under the Service
Agreement and other payables or exercise other rights in accordance with Section
8 herein. 

8. Exercise of Remedies. 

            8.1 Authorized
Action by Secured Party. The Pledgors hereby irrevocably appoint Pledgee the attorney-in-fact
of the Pledgors for the purpose of carrying out the security provisions of this
Agreement and taking any action and executing any instrument that the Pledgee
may deem necessary or advisable to accomplish the purposes of this Agreement.
If an event of default occurs, or is continuing, Pledgee shall have the right
to exercise the following rights and powers: 

            (a) Collect
by legal proceedings or otherwise and endorse, receive and receipt for all payments,
proceeds and other sums and property now or hereafter payable on or on account
of the Pledged Collateral; 

            (b) Enter
into any extension, reorganization, deposit, merger, consolidation or other agreement
pertaining to, or deposit, surrender, accept, hold or apply other property in
exchange for the Pledged Collateral; 

            (c) Transfer
the Pledged Collateral to its own or its nominee's name; 

 

            (d)
Make any compromise or settlement, and take any action it deems advisable, with
respect to the Pledged Collateral; 

            (e) Notify
any obligor with respect to any Pledged Collateral to make payment directly to
the Pledgee; 

            (f) All
rights of the Pledgors to exercise the voting and other consensual rights it would
otherwise be entitled to exercise without any action or the giving of any notice
shall cease, and all such rights shall thereupon become vested in the Pledgee;

            (g) All
rights of the Pledgors to receive distributions with respect to the Pledged Collateral
which it would otherwise be authorized to receive and retain shall cease and all
such rights shall thereupon become vested in the Pledgee; and 

            (h) The
Pledgors shall execute and deliver to the Pledgee appropriate instruments as the
Pledgee may request in order to permit the Pledgee to exercise the voting and
other rights which it may be entitled to exercise and to receive all distributions
which it may be entitled to receive. 

            The Pledgors
hereby grant to Pledgee an exclusive, irrevocable power of attorney, with full
power and authority in the place and stead of the Pledgors to take all such action
permitted under this Section 8.1. Such power of attorney shall be effective, automatically
and without the necessity of any action (including any transfer of any Pledged
Collateral) by any person, upon the occurrence and continuance of an event of
default. Pledgee shall not have any duty to exercise any such right or to preserve
the same and shall not be liable for any failure to do so or for any delay in
doing so. 

            8.2 Event
of default; Remedies. Upon the occurrence of an event of default, Pledgee may,
without notice to or demand on the Pledgors and in addition to all rights and
remedies available to Pledgee, at law, in equity or otherwise, do any of the following:

            (a) Require
the Pledgors to immediately pay all outstanding unpaid amounts due under the Consulting
Services Agreement; 

            (b) Foreclose
or otherwise enforce Pledgee's security interest in any manner permitted by law
or provided for in this Agreement; 

            (c) Sell
or transfer the rights or otherwise dispose of any Pledged Collateral at one or
more public or private sales at Pledgee's place of business or any other place
or places, whether or not such Pledged Collateral is present at the place of sale,
for cash or credit or future delivery, on such terms and in such manner as Pledgee
may determine; 

            (d) Terminate
this Agreement pursuant to Section 11. 

            (e) Personally,
or by agents or attorneys, immediately take possession of the Pledged Collateral
or any part thereof, from the Pledgors or any other person who then has possession
of any part thereof with or without notice or process of law; 

            (f) Demand,
sue for, collect or receive any money or property at any time payable or receivable
in respect of the Pledged Collateral; 

 

 

            (g)
Sell or otherwise liquidate, or direct the Pledgors to sell, assign, transfer
or otherwise liquidate the Pledged Collateral or any part thereof, and take possession
of the proceeds of any such sale or liquidation; 

            (h) Exercise
any and all rights as beneficial and legal owner of the Pledged Collateral, including,
without limitation, perfecting assignment of and exercising any and all voting,
consensual and other rights and powers with respect to any Pledged Collateral;
and 

            (i) All
the rights and remedies of a secured party upon default under applicable law.

            8.3 The
Pledgee shall give a notice of default to the Pledgors when the Pledgee exercises
its remedies under this Agreement. 

            8.4 Subject
to Section 7.3, the Pledgee may exercise its remedies under this Agreement at
any time after the Pledgee gives a notice of default in accordance with Section
7.3 or thereafter. 

            8.5 The
Pledgee is entitled to a priority in receiving payment by the evaluation or proceeds
from the auction or sale of whole or part of the equity interest pledged herein
in accordance with legal procedure until the unpaid Services Fees under the Services
Agreement are repaid. 

            8.6 The
Pledgor shall not hinder the Pledgee from exercising its rights in accordance
with this Agreement and shall give necessary assistance so that the Pledgee may
exercise its rights in full. 

9. Assignment. 

            9.1 The
Pledgors shall not donate or transfer rights and obligations herein without prior
consent from the Pledgee. 

            9.2 This
Agreement shall be binding upon each of the Pledgors and his, her or its successors
and be binding on the Pledgee and his each successor and assignee. 

            9.3 The
Pledgee may transfer or assign his all or any rights and obligations under the
Service Agreement to any individual specified by it (natural person or legal entity)
at any time. In this case, the assignee shall enjoy and undertake the same rights
and obligations herein of the Pledgee as if the assignee is a party hereto. When
the Pledgee transfers or assigns the rights and obligations under the Service
Agreement, and such transfer shall only be subject to a written notice serviced
to Pledgors, and at the request of the Pledgee, the Pledgors shall execute the
relevant agreements and/or documents with respect to such transfer or assignment.

            9.4 After
the Pledgee's change resulting from the transfer or assignment, the new parties
to the pledge shall execute a new pledge contract. 

10. Effectiveness and Term. The agreement is effective as of the date first set
forth above and from the date when the pledge is recorded on the Register of Shareholders
of BGGSTDL. This Agreement will replace the Original Equity Pledge Agreement upon
its effectiveness. 

11. Termination. This Agreement shall not be terminated until the service fees
under the Consulting Services Agreement are paid off and the Pledgors will not
undertake any further obligations under the Service Agreement, and the Pledgee
shall cancel or terminate this Agreement within reasonable time as soon as practicable.

 

12. Formalities, Fees and Other Charges. 

            12.1 The
Pledgors shall be responsible for all the fees and actual expenses in relation
to this Agreement including but not limited to legal fees, cost of production,
stamp tax and any other taxes and charges. If the Pledgee pays the relevant taxes
in accordance with the laws, the Pledgors shall fully indemnify the Pledgee such
taxes paid by the Pledgee. 

            12.2 The
Pledgors shall be responsible for all the fees (including but not limited to any
taxes, formalities fees, management fees, litigation fees, attorney's fees, and
various insurance premiums in connection with disposition of Pledge) incurred
by the Pledgors for the reason that the Pledgors fail to pay any payable taxes,
fees or charges for other reasons which cause the Pledgee to recourse by any means
or ways. 

13. Force Majeure. 

            13.1 "Force
Majeure," shall include but not be limited to acts of governments, acts of nature,
fire, explosion, typhoon, flood, earthquake, tide, lightning, war, refers to any
unforeseen events beyond the party's reasonable control and cannot be prevented
with reasonable care. However, any shortage of credit, capital or finance shall
not be regarded as an event beyond a Party's reasonable control. The affected
party by Force Majeure shall notify the other party of such event resulting in
exemption promptly. 

            13.2 In
the event that the affected party is delayed in or prevented from performing its
obligations under this Agreement by Force Majeure, only within the scope of such
delay or prevention, the affected party will not be responsible for any damage
by reason of such a failure or delay of performance. The affected party shall
take appropriate means to minimize or remove the effects of Force Majeure and
attempt to resume performance of the obligations delayed or prevented by the event
of Force Majeure. After occurrence of an event of Force Majeure, when such event
or condition ceases to exist, both parties agree to resume the performance of
this Agreement with their best efforts. 

14. Confidentiality. The parties of this agreement acknowledge and make sure that
all the oral and written materials exchanged relating to this contract are confidential.
All the parties have to keep them confidential and can not disclose them to any
other third party without other parties' prior written approval, unless: (a) the
public know and will know the materials (not because of the disclosure by any
contractual party); (b) the disclosed materials are required by laws or stock
exchange rules; or (c) materials relating to this transaction are disclosed to
parties' legal consultants or financial advisors, however, who have to keep them
confidential as well. Disclosure of confidential information by Employees or hired
institutions of the parties is deemed as the act by the parties, therefore, subjecting
them to liability. 

15. Dispute Resolution. 

            15.2 This
Agreement shall be governed by and construed in accordance with the PRC law. 

            15.3 The
parties shall strive to settle any dispute arising from the interpretation or
performance, or in connection with this Agreement through friendly consultation.
In case no settlement can be reached through consultation, each party can submit
such matter to China International Economic and 

 

 Trade Arbitration Commission ("CIETAC")
for arbitration. The arbitration shall follow the current rules of CIETAC, and
the arbitration proceedings shall be conducted in Chinese and shall take place
in Beijing. Any resulting arbitration award shall be final and binding upon the
parties. 

16. Notices. Any notice which is given by the parties hereto for the purpose of
performing the rights and obligations hereunder shall be in writing. Where such
notice is delivered personally, the time of notice is the time when such notice
actually reaches the addressee; where such notice is transmitted by facsimile,
the notice time is the time when such notice is transmitted. If such notice does
not reach the addressee on business date or reaches the addressee after the business
time, the next business day following such day is the date of notice. The delivery
place is the address first written above of the parties hereto or the address
advised in writing including via facsimile from time to time. 

17. Entire Contract. All Parties agree that this Agreement constitute the entire
agreement of the Parties with respect to the subject matter therein upon its effectiveness
and supersedes and replaces all prior oral and/or written agreements and understandings
relating to this Agreement. 

18. Severability. Any provision of this Agreement which is invalid or unenforceable
because of inconsistent with the relevant laws shall, as to that jurisdiction,
be ineffective to the extent of such invalidity or unenforceability, without affecting
in any way the remaining provisions hereof. 

19. Appendices. The appendices to this Agreement are entire and integral part
of this Agreement. 

20. Amendment or Supplement. 

            20.1 Parties
may amend and supply this Agreement with a written agreement, provided that such
amendment shall be duly executed and signed by the Pledgee, BGGSTDL, and holders
of a majority of the shares of BGGSTDL held by the Pledgors, and such amendment
shall thereupon become a part of this Agreement and shall have the same legal
effect as this Agreement. 

            20.2 This
agreement and any amendments, modification, supplements, additions or changes
hereto shall be in writing and come into effect upon being executed and sealed
by the parties hereto. 

21. Copies of the Agreement. This Agreement is executed by the Parties in counterparts,
each Party holds one counterpart, and each original has the same legal effect.

 [SIGNATURE PAGE FOLLOWS] 

 

  

  

  

  
 SIGNATURE PAGE

            IN
WITNESS WHEREOF each party hereto has caused this Agreement duly executed
by itself or a duly authorized representative on its behalf as of the date first
written above.

PLEDGEE: 

SKY ACHIEVE HOLDING LIMITED 

By:     /s/ Youhua Yu                               

Name: YOUHUA YU 

Title: Chairman 

BGGSTDL: 

Beijing Guoqiang Global Science Technology Development Limited 

By:    /s/ Kun Liu                                       

Name: KUN LIU 

Title: Chairman 

 
 

  

  

  

  
 

  
 PLEDGORS SIGNATURE PAGE 

PLEDGORS: Kun Liu 

 
[SIGNATURES PAGE FOR PLEDGOR SHAREHOLDERS
  FOLLOWS] 

By:    /s/ Kun Liu                     

Name: KUN LIUPI Services, Inc. - Exhibit 10-f

OPTION AGREEMENT 

  (English Translation)

             This
Option Agreement (this "Agreement") is entered into as of 01/05/2010 between and
among China between SKY ACHIEVE HOLDING LIMITED, a company incorporated under
the laws of British Virgin Islands (Party A), located at Suite 1706, 17/F,Tower
1, China Hong Kong City, 33 Canton Road, Tsimshatsui, Kowloon, HongKong and Beijing
Guoqiang Global Science Technology Development Limited., a company with joint
stock limited liability organized under the laws of the PRC ("Party B"), with
a registered address at 3, Xijing Road, High Tech Park, Badachu, Shijingshan District,
Building 1 and STE 106C, Beijing China, 100081, Mr. KUN,LIU, chairman and shareholder
of Party B ("Chairman"), and each of the shareholders of Party B listed on Appendix
1 of this Agreement (the "Shareholders"). In this Agreement, Party A, Party B,
the Chairman and the Shareholders are referred to collectively in this Agreement
as the "Parties" and each of them is referred to as a "Party." 

RECITALS

 

	A. 	Party A is a company incorporated in British
      Virgin Islands under the laws of the British Virgin islands, which has the
      expertise in business consulting;  
	 	 
	B. 	Party B is an development, manufacture dynamic
      lithium battery company with limited liability duly incorporated in Beijing,
      China; 
	 	 
	C. . 	The Chairman and the Shareholders are shareholders
      of Party B. The Chairman and the Shareholders collectively own more than
      100% of the outstanding equity interest in Party B (each, an "Equity Interest"
      and collectively the "Equity Interest"); 
	 	 
	D. 	A series of agreements such as the Consulting
      Services Agreement (the "Service Agreement") have been entered into between
      Party A and Party B concurrently with this Agreement; 
	 	 
	E. 	An Equity Pledge Agreement (the "Equity Pledge
      Agreement") has been entered into by the Parties concurrently herewith;
      
	 	 
	F. 	The Parties are entering into this Option Agreement
      in conjunction with the Pledge Agreement, Consulting Services Agreement
      and related agreements. 

              NOW
THEREFORE, the Parties to this Agreement hereby agree as follows: 

1. Option Grant 

	 	1.1 	Grant of Rights. The Chairman and the Shareholders
      (hereafter collectively referred to as the "Transferor") hereby irrevocably
      grants to Party A an option to purchase or cause any person designated by
      Party A ("Designated Persons") to purchase, to the extent permitted under
      PRC Law, according to the steps determined by Party A, at the price specified
      in Section 1.3 of this Agreement, at any time from the Transferor a portion
      or all of the equity interests held by Transferor in Party B (the "Option").
      No option or similar right shall be granted by Transferor to any third party
      other than Party A and/or the Designated Persons. Party B hereby agrees
      to the granting of the Option by The Chairman and the Shareholders to Party
      A and/or the Designated Persons. The "person" set forth in this clause and
      this Agreement means an individual, corporation, joint venture, partnership,
      enterprise, trust or a non-corporation organization.

 

 1

	 	1.2 	 Exercise of Rights. According to the stipulations
      of PRC laws and regulations, Party A and/or the Designated Persons may exercise
      Option by issuing a written notice (the "Notice") to the Transferor and
      specifying the equity interest purchased from Transferor (the "Purchased
      Equity Interest") and the manner of purchase. 
	 	 	 
	 	1.3 	Purchase Price. 

	 	1.3.1 	For Party A to exercise the Option, the purchase
      price of the Purchased Equity Interest ("Purchase Price") shall be equal
      to the original paid-in price of the Purchased Equity Interest by the Transferor,
      unless the applicable PRC laws and regulations require appraisal of the
      equity interests or stipulate other restrictions on the purchase price of
      equity interests. 
	 	 	 
	 	1.3.2 	If the applicable PRC laws require appraisal
      of the equity interests or stipulates other restrictions on the purchase
      price of the Equity Interest at the time that Party A exercise the Option,
      the Parties agree that the Purchase Price shall be set at the lowest price
      permissible under the applicable laws. 

	 	1.4 	Transfer of the Purchased Equity Interest.
      Upon each exercise of the Option rights under this Agreement: 

	 	1.4.1 	Party B shall convene a shareholders' meeting
      upon request by the Transferor, and Transferor agrees to call such meeting.
      During the meeting, resolutions shall be proposed, approving the transfer
      of the appropriate Equity Interest to Party A and/or the Designated Persons;
      
	 	 	 
	 	1.4.2 	The Transferor shall, upon the terms and conditions
      of this Agreement and the Notice related to the Purchased Equity Interest,
      enter into Equity Interest purchase agreement in a form reasonably acceptable
      to Party A, with Party A and/or the Designated Persons (as applicable);
      
	 	 	 
	 	1.4.3 	The related parties shall execute all other
      requisite contracts, agreements or documents, obtain all requisite approval
      and consent of the government, conduct all necessary actions, without any
      security interest, transfer the valid ownership of the Purchased Equity
      Interest to Party A and/or the Designated Persons, and cause Party A and/or
      the Designated Persons to be the registered owner of the Purchased Equity
      Interest. In this clause and this Agreement, "Security Interest" means any
      mortgage, pledge, the right or interest of the third party, any purchase
      right of equity interest, right of acquisition, right of first refusal,
      right of set-off, ownership detainment or other security arrangements, however,
      it does not include any security interest created under the Equity Pledge
      Agreement. 

 2

	 	1.5 	 Payment. The payment of the Purchase Price
      shall be determined by the consultation of Party A and/or the Designated
      Persons with the Transferor according to the applicable laws at the time
      of exercise of the Option. 

2. Promises Relating Equity Interest. 

	 	2.1 	Promises Related to Party B. Party B, the Chairman
      and the Shareholders hereby promise: 

	 	2.1.1 	Without prior written consent by Party A, not,
      in any form, to supplement, change or renew the Articles of Association
      of Party B, to increase or decrease registered capital of the corporation,
      or to change the structure of the registered capital in any other forms;
      
	 	 	 
	 	2.1.2 	According to customary fiduciary standards
      applicable to managers with respect to corporations and their shareholders,
      to maintain the existence of the corporation, prudently and effectively
      operate the business; 
	 	 	 
	 	2.1.3 	Without prior written consent by Party A, not,
      upon the execution of this Agreement, to sell, transfer, mortgage or dispose,
      in any other form, any asset, legitimate or beneficial interest of business
      or income of Party B, or encumber or approve any encumbrance or imposition
      of any security interest on Party A's assets; 
	 	 	 
	 	2.1.4 	Without prior written notice by Party A, not
      issue or provide any guarantee or permit the existence of any debt, other
      than (i) the debt arising from normal or daily business but not from borrowing;
      and (ii) the debt disclosed to Party A and obtained the written consent
      from Party A; 
	 	 	 
	 	2.1.5 	To normally operate all business to maintain
      the asset value of Party B, without taking any action or failing to take
      any action that would result in a material adverse effect on the business
      or asset value of Party B; 
	 	 	 
	 	2.1.6 	Without prior written consent by Party A, not
      to enter into any material agreement, other than agreements in the ordinary
      course of business (for purposes of this paragraph, if the amount of the
      Agreement involves an amount that exceeds a hundred thousand Yuan (RMB 100,000)
      the agreement shall be deemed material); 
	 	 	 
	 	2.1.7 	Without prior written consent by Party A, not
      to provide loan or credit loan to any others; 
	 	 	 
	 	2.1.8 	Upon the request of Party A, to provide all
      materials of operation and finance relevant to Party B to the extent they
      are in possession of such materials; 

 

 3

	 	2.1.9 	 Purchase and hold insurance from an insurance
      company acceptable to Party A, and the insurance amount and category shall
      be the same with those held by the companies in the same industry or field,
      operating the similar business and owning the similar properties and assets
      as Party B; 
	 	 	 
	 	 	2.1.10 Without prior written consent by Party
      A, not to cause Party B to merge or associate with any person, or acquire
      or invest in any person; 
	 	 	 
	 	 	2.1.11 To notify Party A of the occurrence
      or the potential occurrence of the litigation, arbitration or administrative
      procedure related to the assets, business and income of Party B; 
	 	 	 
	 	 	2.1.12 To cause Party B to maintain and preserve
      its assets, and to execute all requisite or appropriate documents, take
      all requisite or appropriate actions, and pursue all appropriate claims,
      or make requisite or appropriate pleas for all claims; 
	 	 	 
	 	 	2.1.13 Without prior written notice by Party
      A, not to assign equity interests to shareholders in any form; however,
      Party A shall distribute all or part of its distributable profits to their
      own shareholders upon request by Party A; 
	 	 	 
	 	 	2.1.14 According to the request of Party A,
      to appoint any person designated by Party A to be the directors of Party
      B. 

	 	2.2 	Promises Related to Transferor. The Chairman
      and the Shareholders hereby promise: 

	 	2.2.1 	Without prior written consent by Party A, not,
      upon the execution of this Agreement, to sell, transfer, mortgage or dispose
      in any other form any legitimate or beneficial interest of equity interest,
      or to approve any other security interest set on it, with the exception
      of the pledge set on the equity interest of the Transferor subject to Equity
      Pledge Agreement; 
	 	 	 
	 	2.2.2 	Without the prior written notice by Party A,
      not to decide or support or execute any shareholder resolution at any shareholder
      meeting of Party B that approves any sale, transfer, mortgage or dispose
      of any legitimate or beneficial interest of equity interest, or allows any
      other security interest set on it, other than the pledge on the equity interests
      of Transferor pursuant to Equity Pledge Agreement; 
	 	 	 
	 	2.2.3 	Without prior written notice by Party A, the
      Parties shall not agree or support or execute any shareholder resolution
      at any shareholder meeting of Party B that approves Party B's merger or
      association with any person, acquisition of any person or investment in
      any person; 

 4

	 	2.2.4 	 To notify Party A the occurrence or the potential
      occurrence of the litigation, arbitration or administrative procedure related
      to the equity interest owned by them; 
	 	 	 
	 	2.2.5 	To cause the Board of Directors of Party B
      to approve the transfer of the Purchased Equity Interest subject to this
      Agreement; 
	 	 	 
	 	2.2.6 	In order to keep its ownership of the equity
      interest, to execute all requisite or appropriate documents, conduct all
      requisite or appropriate actions, and make all requisite or appropriate
      claims, or make requisite or appropriate defend against fall claims of compensation;
      
	 	 	 
	 	2.2.7 	Upon the request of Party A, to appoint any
      person designated by Party A to be the directors of Party B; 
	 	 	 
	 	2.2.8 	Upon the request of Party A at any time, to
      transfer its Equity Interest immediately to the representative designated
      by Party A unconditionally at any time and abandon its prior right of first
      refusal of such equity interest transferring to another available shareholder;
      
	 	 	 
	 	2.2.9 	To prudently comply with the provisions of
      this Agreement and other Agreements entered into collectively or respectively
      by the Transferor, Party B and Party A and perform all obligations under
      these Agreements, without taking any action or any nonfeasance that sufficiently
      affects the validity and enforceability of these Agreements; 

3. Representations and Warranties. As of the execution date of this Agreement
and every transferring date, Party B, the Chairman and the Shareholders hereby
jointly and severally represent and warrant collectively and respectively to Party
A as follows: 

	 	3.1 	It has the power and ability to enter into
      and deliver this Agreement, and any equity interest transferring Agreement
      ("Transferring Agreement," respectively) having it as a party, for every
      single transfer of the Purchased Equity Interest according to this Agreement,
      and to perform its obligations under this Agreement and any Transferring
      Agreement. Upon execution, this Agreement and the Transferring Agreements
      having it as a party will constitute a legal, valid and binding obligation
      of it enforceable against it in accordance with its terms; 
	 	 	 
	 	3.2 	To its knowledge and without independent verification,
      the execution, delivery of this Agreement and any Transferring Agreement
      and performance of the obligations under this Agreement and any Transferring
      Agreement will not: (i) cause to violate any relevant laws and regulations
      of PRC; (ii) constitute a conflict with its Articles of Association or other
      organizational documents (if an entity); (iii) cause to breach any Agreement
      or instruments to which it is a party or having binding obligation on it,
      or constitute the breach under any Agreement or instruments to which it
      is a party or having binding obligation on it; (iv) cause to violate relevant
      authorization of any consent or approval to it and/or any continuing valid
      condition; or (v) cause any consent or approval authorized to it to be suspended,
      removed, or into which other requests be added; 

 

 5

 
 

	 	3.3 	 The shares of Party B are transferable, and
      Party B has not permitted or caused any security interest to be imposed
      upon the shares of Party B. 
	 	 	 
	 	3.4 	Party B does not have any unpaid debt, other
      than (i) debt arising from its normal business; and (ii) debt disclosed
      to Party A and obtained by written consent of Party A; 
	 	 	 
	 	3.5 	Party B has complied with all PRC laws and
      regulations applicable to the acquisition of assets and securities in connection
      with this Agreement; 
	 	 	 
	 	3.6 	No litigation, arbitration or administrative
      procedure relevant to the Equity Interests and assets of Party B or Party
      B itself is in process or to be settled and the Parties have no knowledge
      of any pending or threatened claim; 
	 	 	 
	 	3.7 	The Transferor bears the fair and salable ownership
      of its Equity Interest free of encumbrances of any kind, other than the
      security interest pursuant to the Equity Pledge Agreement. 

4. Assignment of Agreement 

	 	4.1 	Party B, the Chairman and the Shareholders
      shall not transfer their rights and obligations under this Agreement to
      any third party without the prior written consent of the Party A. 
	 	 	 
	 	4.2 	Party B, the Chairman and the Shareholders
      hereby agree that Party A shall be able to transfer all of its rights and
      obligation under this Agreement to any third party with its needs, and such
      transfer shall only be subject to a written notice sent to Party B, the
      Chairman and the Shareholders by Party A, and no any further consent from
      Party B, the Chairman and the Shareholders will be required. 

 

5. Effective Date and Term 

	 	5.1 	This Agreement shall be effective as of the
      date first set forth above.  
	 	 	 
	 	5.2 	The term of this Agreement is ten (10) years
      unless the early termination in accordance with this Agreement or other
      terms of the relevant agreements stipulated by the Parties. This Agreement
      may be extended according to the written consent of Party A before the expiration
      of this Agreement. The term of extension will be decided unanimously through
      mutual agreement of the Parties. 
	 	 	 
	 	5.3 	If Party A or Party B terminates by the expiration
      of its operating period (including any extended period) or other causes
      in the term set forth in Section 5.2, this Agreement shall be terminated
      simultaneously, except Party A has transferred its rights and obligations
      in accordance with Section 4.2 of this Agreement. 

  

 6

 
 

6. Applicable Law and Dispute Resolution 

	 	6.1 	Applicable Law. The execution, validity, construing
      and performance of this Agreement and the resolution of disputes under this
      Agreement shall be governed by the laws of PRC. 
	 	 	 
	 	6.2 	Dispute Resolution. The parties shall strive
      to settle any dispute arising from the interpretation or performance in
      connection with this Agreement through friendly consultation. In case no
      settlement can be reached through consultation within thirty (30) days after
      such dispute is raised, each party can submit such matter to China International
      Economic and Trade Arbitration Commission (the "CIETAC") in accordance with
      its rules. Arbitration shall take place in Beijing and the proceedings shall
      be conducted in Chinese. Any resulting arbitration award shall be final
      conclusive and binding upon both parties. 

 

7. Taxes and Expenses. Each Party shall, according to the PRC laws,
bear any and all registering taxes, costs and expenses for equity transfer arising
from the preparation and execution of this Agreement and all Transferring Agreements,
and the completion of the transactions under this Agreement and all Transferring
Agreements. 

8. Notices. Notices or other communications required to be given by any party
pursuant to this Agreement shall be written in English and Chinese and delivered
personally or sent by registered mail or postage prepaid mail or by a recognized
courier service or by facsimile transmission to the address of relevant each party
or both parties set forth below or other address of the party or of the other
addressees specified by such party from time to time. The date when the notice
is deemed to be duly served shall be determined as the follows: (a) a notice delivered
personally is deemed duly served upon the delivery; (b) a notice sent by mail
is deemed duly served the tenth (10th) day after the date when the air registered
mail with postage prepaid has been sent out (as is shown on the postmark), or
the fourth (4th) day after the delivery date to the internationally recognized
courier service agency; and (c) a notice sent by facsimile transmission is deemed
duly served upon the receipt time as is shown on the transmission confirmation
of relevant documents.  

 7

 
 

	Party A: 	SKY ACHIEVE HOLDING LIMITED 
	Address: 	Suite 1706, 17/F,Tower 1, China Hong Kong City,
      33 Canton Road, Tsimshatsui, Kowloon, HongKong 
	 	 
	Fax: 	852-27890488 
	Phone: 	852-23981826 
	 	 
	Party B: 	Beijing Guoqiang Global Science Technology
      Development Limited 
	Address: 	3, Xijing Road, High Tech Park, Badachu, Shijingshan
      District, Building 1 and STE 106C, Beijing China, 100081 
	 	 
	Fax: 	86-010-62165587 
	Phone: 	86-010-62165587 
	 	 
	Chairman: 	To the address printed on the signature page
      hereto. 
	 	 
	Shareholders: 	To the respective addresses printed on the
      signature pages hereto. 

9. Confidentiality. The Parties acknowledge and confirm any oral
or written materials exchanged by the Parties in connection with this Agreement
are confidential. The Parties shall maintain the secrecy and confidentiality of
all such materials. Without the written approval by the other Parties (except
that written approval of the Shareholders shall not be required), any Party shall
not disclose to any third party any relevant materials, but the following circumstances
shall be excluded: 

	 	9.1 	The materials that is known or may be known
      by the general public (but not include the materials disclosed by each party
      receiving the materials); 
	 	 	 
	 	9.2 	The materials required to be disclosed subject
      to the applicable laws or the rules or provisions of stock exchange; or
      
	 	 	 
	 	9.3 	The materials disclosed by each Party to its
      legal or financial consultant relating the transaction of this Agreement,
      and this legal or financial consultant shall comply with the confidentiality
      set forth in this Section. The disclosure of the confidential materials
      by staff or employed institution of any Party shall be deemed as the disclosure
      of such materials by such Party, and such Party shall bear the liabilities
      for breaching the contract. This clause shall survive whatever this Agreement
      is invalid, amended, revoked, terminated or unable to implement by any reason.
      

10. Further Warranties. The Parties agree to promptly execute documents
reasonably required to perform the provisions and the aim of this Agreement or
documents beneficial to it, and to take actions reasonably required to perform
the provisions and the aim of this Agreement or actions beneficial to it. 

11. Miscellaneous.  

	 	11.1 	 Amendment, Modification and Supplement. Any
      amendment and supplement to this Agreement shall only be effective is made
      by the Parties in writing. 
	 	 	 
	 	11.2 	Entire Agreement. Notwithstanding the Article
      5 of this Agreement, the Parties acknowledge that this Agreement constitutes
      the entire agreement of the Parties with respect to the subject matters
      therein and supercede and replace all prior or contemporaneous agreements
      and understandings in verb or/and in writing. 

 8

 
 

	 	11.3 	 Severability. If any provision of this Agreement
      is judged as invalid or non-enforceable according to relevant Laws, the
      provision shall be deemed invalid only within the applicable laws and regulations
      of the PRC, and the validity, legality and enforceability of the other provisions
      hereof shall not be affected or impaired in any way. The Parties shall,
      through fairly consultation, replace those invalid, illegal or non-enforceable
      provisions with valid provisions that may bring the similar economic effects
      with the effects caused by those invalid, illegal or non-enforceable provisions.
      
	 	 	 
	 	11.4 	Headings. The headings contained in this Agreement
      are for the convenience of reference only and shall not affect the interpretation,
      explanation or in any other way the meaning of the provisions of this Agreement.
      
	 	 	 
	 	11.5 	Language and Copies. This Agreement has been
      executed in Chinese in duplicate originals; each Party holds one (1) original
      and each duplicate original shall have the same legal effect. 
	 	 	 
	 	11.6 	Successor. This Agreement shall bind and benefit
      the successor of each Party and the transferee allowed by each Party. 
	 	 	 
	 	11.7 	Survival. Any obligation taking place or at
      term hereof prior to the end or termination ahead of the end of this Agreement
      shall continue in force and effect notwithstanding the occurrence of the
      end or termination ahead of the end of the Agreement. Article 6, Article
      8, Article 9 and Section 11.7 hereof shall continue in force and effect
      after the termination of this Agreement. 
	 	 	 
	 	11.8 	Waiver. Any Party may waive the terms and conditions
      of this Agreement in writing with the signature of the Parties. Any waiver
      by a Party to the breach by other Parties within certain situation shall
      not be construed as a waiver to any similar breach by other Parties within
      other situations. 
	 	 	 
	 	 	 
	 	 	 
	
      [SIGNATURE PAGES FOLLOW] 

    

 9

 
 

 
 SIGNATURE PAGES

             IN
WITNESS WHEREOF, the parties hereof have caused this Agreement to be executed
by their duly authorized representatives as of the date first written above. 

PARTY A: 

SKY ACHIEVE HOLDING LIMITED 

By:    /s/ Youhua Yu             

Name: YOUHUA, YU 

Title: Chairman 

PARTY B: 

Beijing Guoqiang Global Science Technology Development Limited 

By:    /s/ Kun Liu                     

Name: KUN LIU 

Title: Chairman 

CHAIRMAN: 

   /s/ Youhua Yu             

YOU HUA, YU  

 10

  
 SIGNATURE PAGE FOR SHAREHOLDERS

SHAREHOLDERS: Kun Liu 

[SIGNATURES PAGES FOR SHAREHOLDERS FOLLOWS]

By:    /s/ Kun Liu                     

Name: KUN LIU 

 11

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