Document:

Share Pledge Agreement, dated September 28, 2005

 Exhibit 4.50 
 BY AND BETWEEN 
 Puccini Network Technology (Beijing) Ltd. 
 AND 
 Ouyang Zhengyu 

 

 SHARE PLEDGE AGREEMENT

  

 September 28, 2005 

 SHARE PLEDGE AGREEMENT 
 This Share Pledge Agreement (this “Agreement”) is executed on the 28th day of September, 2005 by and between: 
 Pledgee: Puccini Network Technology (Beijing) Ltd. 
 Registered Address: Room 615, Suite C, No.18 of Xi Huan Road (S), Beijing 
 Economic-Technological Development Area, Beijing 
 AND 
 Pledgor: Ouyang Zhengyu 
 Gender: Male 
 PRC Identity Card Number: 362428197707192733 
 Address: Baijiaxu Town, Baijia Town, Wan’an County, Jiangxi Province 
 In this Agreement the above Pledgee and Pledgor shall be referred to individually as a “Party” and collectively as the “Parties”. 
 WHEREAS, 
  

	1.	The Pledgor, Ouyang Zhengyu, is a citizen of the People’s Republic of China ( the “PRC”) and owns 80% shares of Beijing Lei Ting Wu Ji Network Technology Co., Ltd.
(“Lei Ting Wu Ji”), a company registered in Beijing, PRC for providing value-added telecommunication service. 

  

	2.	The Pledgee is a wholly foreign-invested company registered in Beijing, PRC and has been licensed by the relevant governmental authorities of PRC to provide internet technology
services. The Pledgee and Lei Ting Wu Ji owned by the Pledgor entered into an Exclusive Technical and Consulting Services Agreement (the “Service Agreement”) on November 19, 2003. 

  

	3.	In order to ensure that the Pledgee is able to collect technology consultancy service fees from Lei Ting Wu Ji owned by the Pledgor, the Pledgor is willing to pledge all his equity
interest owned in Lei Ting Wu Ji to the Pledgee as a security for such service fees under the Service Agreement. 

  

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 For the purpose of performing the Service Agreement, the Pledgor and the Pledgee hereby mutually agree to enter into this
Agreement as per the following terms: 
 1. Definitions 
 Unless otherwise provided in this Agreement, the following terms shall have the following meanings: 
  

	 	1.1	“Pledge” means the full content set forth in Article 2 hereunder 

  

	 	1.2	“Equity Interest” means the 80% shares legally held by the Pledgor in Lei Ting Wu Ji. 

  

	 	1.3	“Pledge Ratio” means the proportion between the value of the Equity Interest pledged under this Agreement and the exclusive technical and consultancy service fees under
the Service Agreement. 

  

	 	1.4	“Pledge Term” means the term set forth in Article 3.2 hereunder. 

  

	 	1.5	“Service Agreement” means the Exclusive Technology and Consultancy Cooperation Agreement concluded by and between Lei Ting Wu Ji and the Pledgee on September 28,
2005. 

  

	 	1.6	“Events of Default” means any event set forth in Article 7 hereunder. 

  

	 	1.7	“Notice of Default” means the notice to announce the event of default issued by the Pledgee in accordance with this Agreement. 

 2. Pledge of Equity Interest and Pledge 
 The Pledgor agrees to pledge
all his Equity Interest owned in Lei Ting Wu Ji to the Pledgee. The Pledge under this Agreement means the priority right of the Pledgee to be paid from the monies of conversion, auction, or sale of the Equity Interest pledged to the Pledgee by the
Pledgor. 
 3. Pledge Ratio and Pledge Term 
  

	 	3.1	Pledge Ratio 

 The Pledge Ratio of Pledge shall be
approximately 100%. 
  

	 	3.2	Pledge Term 

  

	 	3.2.1	The Pledge of the Equity Interest under this Agreement shall take effect as of the date at which the shares pledged under this Agreement are recorded in the Register of Shareholders
of Lei Ting Wu Ji. The Pledge under this Agreement shall have the same term as the Service Agreement. 

  

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	 	3.2.2	The Pledgee is entitled to dispose of the Pledge hereunder if Lei Ting Wu Ji fails to pay the technology consultancy service fees to the Pledgee subject to the Service Agreement
during the Pledge. 

 4. Physical Possession of Documents 
  

	 	4.1	During the Pledge Term set forth in this Agreement, the Pledgor shall, within one week from the date hereof, deliver the Certificate of Contribution to the Equity Shares and the
Register of Shareholders in Lei Ting Wu Ji to the Pledgee for its physical possession. 

  

	 	4.2	The Pledgee shall be entitled to collect the dividends from the Equity Interest. 

 5 Representations and Warranties by the Pledgor 
  

	 	5.1	The Pledgor is the legal owner of the Equity Interest. 

  

	 	5.2	The Pledgee’s rights shall be in no event interfered by any other party once the Pledgee exercises such rights in accordance with this Agreement. 

  

	 	5.3	The Pledgee shall be entitled to dispose of or assign the Pledge in accordance with the methods set forth in this Agreement. 

  

	 	5.4	No other pledge has ever been made on the Equity Interest other than the Pledgee. 

 6 Covenants by the Pledgor 
  

	 	6.1	During the effective term of this Agreement, the Pledgor undertakes to the Pledgee that the Pledgor shall: 

  

	 	6.1.1	not transfer the Equity Interests, create or permit to create any pledge which may have an adverse effect on the rights or interests of the Pledgee without prior written consent of
the Pledgee except for the transfer of the Equity Interest to Puccini International Limited (“Puccini”)or the persons appointed by Puccini pursuant to the Exclusive Share Purchase Agreement concluded by and among the Pledgor, Puccini and
Lei Ting Wu Ji on September 28, 2005; 

  

	 	6.1.2	comply with and implement the provisions of laws and regulations with respect 

  

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 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 authorities within five days upon receipt of such notices, orders or suggestions while abiding by such notices, orders or suggestions; or make argument and presentation against such items in accordance with the
reasonable request of the Pledgee or approved by 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 covenant and obligation set forth in this Agreement or which may affect the Pledgor’s performance of his obligations under this Agreement. 

  

	 	6.2	The Pledgor agrees that the Pledgee’s right to exercise the Pledge obtained from this Agreement shall not be suspended or hampered by the legal proceedings brought by the
Pledgor or any successor to the Pledgor or any person authorized by the Pledgor or any other person. 

  

	 	6.3	The Pledgor warrants to the Pledgee that in order to protect or perfect the security over the payment of the technology consultancy service fees under the Service Agreement, the
Pledgor shall execute in good faith and cause other interested parties of the Pledge to execute all certificates of rights, contracts, and /or perform and cause other interested parties of the Pledge to take actions as required by the Pledgee and
provide assistance to the exercise of the rights and authorization by the Pledgee granted by this Agreement, and execute all the documents with respect to the changes of the Certificate of Equity Interest with the Pledgee or any person (natural
person/ legal person) designated by the Pledgee, and submit to the Pledgee all the notices, orders or decisions concerning the Pledge as deemed necessary by the Pledgee within a reasonable time. 

  

	 	6.4	The Pledgor warrants to the Pledgee that the Pledgor shall comply with and perform all the warranties, covenants, agreements, representations and conditions for the benefits of the
Pledgee. The Pledgor shall compensate for all the losses suffered by the Pledgee in the event that the Pledgor fails to perform or fully perform such warranties, covenants, agreements, representations and conditions. 

 7 Events of Default 
  

	 	7.1	The following events shall be deemed as the Events of default: 

  

	 	7.1.1	Lei Ting Wu Ji fails to make full payment of service fees due under the Services Agreement as scheduled; 

  

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	 	7.1.2	The representations or warranties made in Article 5 hereof by the Pledgor are materially misleading or fraudulent, and/or the Pledgor violates any of the representations and
warranties in Article 5 hereof; 

  

	 	7.1.3	The Pledgor violates any of the covenants in Article 6 hereof; 

  

	 	7.1.4	The Pledgor violates any terms herein; 

  

	 	7.1.5	The Pledgor waives the pledged Equity Interest or transfers the pledged Equity Interest without prior written consent of the Pledgee except otherwise agreed in Article 6.1.1 hereof;

  

	 	7.1.6	Any loan, guarantee, compensation, covenants or any other liabilities of the Pledgor (1) are required to be repaid or performed prior to the scheduled date; or (2) are due
but can not be repaid or performed as scheduled, which causes the Pledgee to deem that the Pledgor’s capacity to perform the obligations herein is affected; 

  

	 	7.1.7	The Pledgor can not repay the general debt or other debt; 

  

	 	7.1.8	This Agreement becomes illegal or the Pledgor can not continue to perform the obligations herein due to the promulgation of any relevant laws; 

  

	 	7.1.9	Any approval, permit, license or authorization of the governmental authorities required by the enforceability, validity and effectiveness of this Agreement are withdrawn, suspended,
invalidated or materially amended; 

  

	 	7.1.10	Adverse changes of the Pledgor’s property occur and cause the Pledgee to deem that the capability of the Pledgor to perform the obligations herein is affected;

  

	 	7.1.11	Lei Ting Wu Ji’s successor or trustee can only perform part of or refuse to perform the payment liability under the Service Agreement; 

  

	 	7.1.12	Other circumstances where the Pledgee is incapable of exercising the right to dispose of the Pledge in accordance with the related laws. 

  

	 	7.2	The Pledgor shall immediately give a written notice to the Pledgee once he is aware of or find any event set forth in this Article 7.1 or upon occurrence of any event that may
result in the foregoing items. 

  

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	 	7.3	Unless the Events of Default set forth in Article 7.1 hereof have been successful solved to the Pledgee’s satisfaction, the Pledgee may, at any time upon or after occurrence of
the Event of Default, give a written Notice of Default to the Pledgor requiring the Pledgor to immediately make full payment of the outstanding fees under the Service Agreement and other payment due or dispose of the Pledge in accordance with
Article 8 herein. 

 8 Exercise of the Right of the Pledge 
  

	 	8.1	The Pledgor shall not transfer the Pledge without prior written consent of the Pledgee prior to the full repayment of the fees under the Service Agreement. 

 

	 	8.2	The Pledgee shall give a Notice of Default to the Pledgor before the exercise of the right of Pledge. 

  

	 	8.3	Subject to Article 7.3, the Pledgee may simultaneously exercise the right to dispose of the Pledge at the time when the Notice of Default is given in accordance with Article 7.3 or
may exercise such right after such Notice of Default is given. 

  

	 	8.4	The Pledgee shall be entitled to realize the priority right to be paid from the monies of conversion, auction or sale of whole or part of the Equity Interest pledged herein through
legal procedures until the outstanding fees under the Service Agreement and all other payment due are fully paid. 

  

	 	8.5	The Pledgor shall not prevent the Pledgee from disposing of the Pledge in accordance with this Agreement and shall give necessary assistance for the Pledgee to realize its Pledge.

 9 Assign 
  

	 	9.1	The Pledgor shall not be entitled to donate or assign his rights and obligations under this Agreement without prior consent of the Pledgee. 

  

	 	9.2	This Agreement shall be binding upon the Pledgor and his successor and shall be binding upon the Pledgee and its successor and assignee. 

  

	 	9.3	The Pledgee may at any time assign all or any rights and obligations under the Service Agreement to the designated person (natural person/ legal person). In this case, the assignee
shall, like one party to this Agreement, have the same rights and undertake 

  

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 the same obligations herein as the Pledgee. In the event that the Pledgee assigns the rights and
obligations under the Service Agreement, the Pledgor shall, at the request of the Pledgee, sign relevant agreements and/or documents with respect to such assignment. 
  

	 	9.4	After the change of Pledge resulting from the assignment, the new parties to the pledge shall re-execute a pledge contract. 

 10 Termination 
 This Agreement shall not be terminated until the fees
under the Service Agreement are fully paid and Lei Ting Wu Ji is not liable for any obligations under the Service Agreement. The Pledgee shall cancel or terminate this Agreement within a reasonable time as soon as practicable. 
 11 Charges and Other Costs 
  

	 	11.1	The Pledgor shall be responsible for all the costs 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 costs. The Pledgee shall be fully reimbursed by the Pledgor for any taxes and fees paid by the Pledgee in accordance with the laws. 

  

	 	11.2	The Pledgor shall be responsible for all the fees (including but not limited to any taxes, charges, management fees, court fees, attorney’s fees, and various insurance premiums
concerning the disposal of the Pledge) incurred from the Pledgor’s failure to pay any due taxes, fees or charges pursuant to this Agreement or any other reasons for which the Pledgee has to recourse by any means. 

 12 Force Majeure 
  

	 	12.1	In case the performance of this Agreement is delayed or prevented by any force majeure event, the Party so affected may not assume any liability under this Agreement for such
performance so delayed or prevented. Force majeure event means any event that is beyond one Party’s reasonable control and whose occurrence is unavoidable and unpreventable regardless of reasonable care of the Party so affected, including but
not limited to government act, act of nature, fire, explosion, geographic change, storm, flood, earthquake, tide, lightning or war. However, any shortage of credit, capital or financing shall not be deemed as the event beyond one Party’s
reasonable control. The affected Party seeking for exemption from performing any obligations under this Agreement or under any Article hereof shall notify the other Party of such exemption promptly and advise the other Party of the actions to be
taken for completion of the performance. 

  

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	 	12.2	The Party affected by Force Majeure shall not assume any liability under this Agreement provided, however, that the Party so affected has used its reasonable and practicable efforts
to perform this Agreement, the Party seeking for immunity may be exempted from performing such liability only to the extent of such performance so delayed or prevented. Once the causes for such immunity are corrected and remedied, the Parties agree
to resume performance hereunder with their best efforts. 

 13 Settlement of Dispute 
  

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

  

	 	13.2	The Parties hereto shall strive to settle any dispute arising from the interpretation or performance hereof through friendly consultation. In case no settlement can be reached
through consultation, any Party may submit such dispute to China International Economic and Trade Arbitration Commission (“CIETAC”) for arbitration. The arbitration shall be conducted in Chinese in Beijing pursuant to the CIETAC Rules. The
arbitral award shall be final and binding upon the Parties. 

 14 Notice 
 Any notice that is given by the Party/Parties hereto for the purpose of performing the rights and obligations hereunder shall be in writing. Where such
notice is delivered personally, the actual delivery time is regarded as notice time; where such notice is transmitted by telex or 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 date is the date of notice. The delivery place shall be the addresses set forth above or the addresses notified in writing from time to time. The
writing includes facsimile and telex. 
 15 Annexes 
 The annexes to this Contact constitute an integral part of this Agreement. 
 16 Effectiveness 
  

	 	16.1	This Agreement and any amendment, supplement or change hereto shall be in writing and shall come into effect upon being executed and sealed by the Parties hereto.

  

	 	16.2	This Agreement is written in Chinese with four counterparts. 

  

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 [Execution Page] 
  

			
	Pledgee: Puccini Network Technology (Beijing) Ltd.
		
	Legal Representative:	 	Wang Leilei
		
	Seal:	 	 /s/ Wang Leilei

  

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 [Execution Page] 
  

			
	Pledgor: Ouyang Zhengyu
		
	Signature:	 	 /s/ Ouyang Zhengyu

  

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 Annexes: 
  

	1.	Shareholders Namelist of Beijing Lei Ting Wu Ji Network Technology Co., Ltd. 

  

	2.	Certificate of Capital Contribution establishing Beijing Lei Ting Wu Ji Network Technology Co., Ltd. 

  

	3.	Exclusive Technical and Consulting Services Agreement 

  

 12Business Operation Agreement, dated September 28, 2005

 Exhibit 4.51 
 Business Operation Agreement 
 This Business Operation Agreement (“Agreement”) is executed by and among the
following parties on the date of September 28, 2005: 
  

	Party A:	Puccini Network Technology (Beijing) Ltd. 

	Address:	Room 615, Suite C, No.18 of Xi Huan Road (S), Bejing Economic-Technological Development Area, Beijing 

  

	Party B:	Beijing Lei Ting Wu Ji Network Technology Co., Ltd. 

	Address:	Room 607, Suite C, No.18 of Xi Huan Road (S), Bejing Economic-Technological Development Area, Beijing 

  

	Party C:	Fan Tai 

	Address:	Room 509, Cell 1, No.11 New Building, Luo Quan Bystreet (E), Dongcheng District, Beijing 

  

	Party D:	Ouyang Zhengyu 

	Address:	Baijiaxu Town, Baijia Town, Wan’an County, Jiangxi Province 

 WHEREAS: 
  

	1.	Party A is a wholly foreign-owned enterprise established in the People’s Republic of China (hereinafter abbreviated the “PRC”); 

  

	2.	Party B, a wholly domestic-invested company registered in the PRC, is licensed by Beijing Communications Administration Bureau to engage in the business of the telecommunication
value-added service; 

  

	3.	A business relationship has been established between Party A and Party B by executing an Exclusive Technical and Consulting Services Agreement (“Services Agreement”);

  

	4.	According to the Services Agreement, Party B shall make a payment to Party A which has not been made so far, so the daily operation of Party B will materially impact its capacity of
payment to Party A.; 

  

	5.	Party C, a shareholder of Party B, owns 20% of the equity in Party B; 

  

	6.	Party D, a shareholder of Party B, owns 80% of the equity in Party B; 

  

	7.	Party A, Party B, Party C and Party D herein agree to further confirm the relevant matters regarding the business operation of Party B. 

 WHEREAS, each party, through friendly negotiation, enter into the Agreement as follows: 
  

	1.	In order to ensure the operation of Party B’s business, Party A hereby agrees to, as the guarantor, guarantee Party B’s performance of the contracts, agreements or
transactions executed by and between Party B and any third party regarding the operation of Party B’s business if Party B satisfies the relevant terms under this Agreement. Party B hereby agrees to pledge to Party A its receivable accounts
incurred from its business and all of its assets as a counter-guarantee. According to the guarantee set out above, Party A, as the guarantor for Party B, shall respectively execute a written guarantee agreement with the counter party to relevant
contract for the purpose of bearing the guarantee liability. 

  

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 In order to assure the operation of Party B’s business, Party B shall borrow fifty (50) million
RMB as an operating funds loan. Party A hereby agrees to provide a guarantee for such loan if Party B satisfies the relevant terms under this Agreement. 
  

	2.	Whereas the provision of Article 1 hereof, and in order to ensure Party B’s performance of the business agreements between Party A and Party B and its payments to Party A,
Party B together with its shareholders, Party C and Party D, hereby jointly confirm and agree that Party B shall not conduct any transaction which may materially affect its assets, obligations, rights or the operation of the company, unless a prior
written consent from Party A or other affiliated companies to Party A has been obtained, including but not limited to the following contents: 

  

	 	2.1	To borrow money or incur any debt from any third party; 

  

	 	2.2	To sell to or acquire from any third party any assets or rights, including but not limited to any intellectual property rights; 

  

	 	2.3	To provide guarantee for any third party with its assets or intellectual property rights; 

  

	 	2.4	To assign rights and obligations under this Agreement herein to any third party. 

  

	3.	In order to ensure Party B’s performance of the business agreements between Party A and Party B and its payments to Party A, Party B together with its shareholders, Party C and
Party D, hereby jointly agree to accept the policies and instructions in respect of the recruitment and dismissal of employees, the daily business management and financial management, etc., provided by Party A from time to time.

  

	4.	Party B together with its shareholders, Party C and Party D, hereby jointly agree that Party B, Party C and Party D shall only appoint the personnel designated by Party A as the
director of Party B, and Party B shall engage the senior officers designated and engaged by Party A as Party B’s General Manager, Chief Financial Officer, and other senior officers. If any of the above directors or senior officers leave Party
A, whether by resignation or dismissal, he or she will lose the qualification to hold any position in Party B and therefore Party B, Party C and Party D shall engage other senior officers designated and engaged by Party A to assume such positions.

 Party C and Party D hereby agree to execute Power of Attorney at the same time of execution of this Agreement according to
which Party C and Party D shall authorize personnel designated by Party A to fully exercise their voting rights of shareholders, which is stipulated in PRC laws and regulations and articles of association of the company on Party B’s
shareholders’ meetings. 
  

	5.	Party B together with its shareholders, Party C and Party D, hereby jointly agree and confirm that except the provision of Article 1 hereof Party B shall firstly request Party A for
a guarantee if any guarantee for the performance of contracts or the operating funds loan is needed. In such event, Party A, without obligation, has the right to provide proper guarantee for Party B in its sole discretion. However Party A shall give
a written notice to Party B promptly if it decides not to provide guarantee, therefore Party B can request any third party for such guarantee. 

  

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	6.	In the event that any of the agreements between Party A and Party B terminates or expires, Party A shall be entitled without obligation to terminate all agreements between Party A
and Party B including but not limited to Exclusive Technical and Consulting Services Agreement. 

  

	7.	Any amendment and supplement of this Agreement shall be made in written. The amendment and supplement duly executed by each Party shall be part of this Agreement and shall have the
same legal effect as this Agreement. 

  

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

  

	9.	Settlement of Disputes 

 The parties shall strive to settle
any dispute arising from the construction or performance of this Agreement through friendly consultation. In case no settlement can be reached through consultation, each party can submit such dispute to China International Economic and Trade
Arbitration Commission (“CIETAC”) for arbitration in accordance with the current rules of CIETAC. The arbitration proceedings shall take place in Beijing and shall be conducted in Chinese. The arbitration award shall be final and binding
upon all the parties. 
  

	10.	Any notice that is given by the party/parties hereto for the purpose of performing the rights and obligations hereunder shall be in written form. Where such notice is delivered
personally, the actual delivery time is regarded as notice time; where such notice is transmitted by telex or 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 addresses of Parties are the addresses first set forth above or notified in written form from time to time. The written form
includes facsimile and telex. 

  

	11.	This Agreement shall be executed by a duly authorized representative of each party as of the Effective Date first written above and become effective simultaneously. The term of this
Agreement is ten years unless early termination occurs in accordance with the relevant provisions herein. This Agreement may be extended only if Party A gives its written consent prior to the expiration of this Agreement, and the extended term shall
be confirm by Party A in written. 

  

	12.	This Agreement shall expire on the date due unless this Agreement is extended in accordance with relevant terms under this Agreement. During the term of this Agreement, Party B,
Party C and Party D shall not early terminate this Agreement. Notwithstanding the above-mentioned, Party A may terminate this Agreement at any time with a written notice to Party B, Party C and Party D 30 days prior to such termination.

 IN WITNESS WHEREOF the Parties hereto have caused this Agreement to be duly executed on their behalf by their duly authorized
representatives as of the date first written above. 
  

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 [Execution Page] 
  

	
	Party A: Puccini Network Technology (Beijing) Ltd. (Corporate Seal)

  

	
	Legal Representative: Wang Leilei
	
	 /s/ Wang Leilei

  

	
	Party B: Beijing Lei Ting Wu Ji Network Technology Co., Ltd. (Corporate Seal)

  

	
	Legal Representative: Ouyang Zhengyu
	
	 /s/ Ouyang Zhengyu

	
	Party C: Fan Tai
	
	Signature:
	Name: Fan Tai
	 /s/ Fan Tai

	
	Party D: Ouyang Zhengyu
	
	Signature:
	Name: Ouyang Zhengyu
	 /s/ Ouyang Zhengyu

  

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