Document:

Exhibit 4.1

 

SUPERVALU INC.

 

Officers’ Certificate and Authentication Order
 For 7.750% Senior Notes due 2022

 

Pursuant to the Indenture dated as of July 1, 1987 between SUPERVALU INC. (the “Company”) and Deutsche Bank Trust Company Americas (formerly known as Bankers Trust Company), as trustee (the “Trustee”), as amended and supplemented by the First Supplemental Indenture dated as of August 1, 1990 (the “First Supplemental Indenture”), the Second Supplemental Indenture dated as of October 1, 1992, the Third Supplemental Indenture dated as of September 1, 1995, the Fourth Supplemental Indenture dated as of August 4, 1999 and the Fifth Supplemental Indenture dated as of September 17, 1999 (as so amended and supplemented, the “Indenture”) and the resolutions adopted by the Board of Directors of the Company on April 22, 2014 and July 16, 2014, this Officers’ Certificate and Authentication Order is being delivered to the Trustee to establish the terms of a series of Securities in accordance with Section 301 of the Indenture, to establish the form of the Securities of such series in accordance with Section 201 of the Indenture and to request the authentication and delivery of the Securities of such series pursuant to Section 303 of the Indenture.

 

Capitalized terms used but not defined herein and defined in the form of Security attached hereto as Exhibit A shall have the respective meanings ascribed to them in the form of Security attached hereto as Exhibit A.  Capitalized terms used but not defined herein or in the form of Security attached hereto as Exhibit A and defined in the Indenture shall have the respective meanings ascribed to them in the Indenture.

 

A.            Establishment of Series Pursuant to Section 301 of Indenture.  There is hereby established pursuant to Section 301 of the Indenture a series of Securities which shall have the following terms:

 

1.             Title; Securities.  The series of Securities hereby being authorized shall bear the title “7.750% Senior Notes due 2022” (referred to herein as the “Securities”).  The Securities shall include the Securities initially issued on the Issue Date and any other Securities issued after the Issue Date under the Indenture.  All Securities shall vote together and otherwise constitute a single series of Securities under the Indenture.

 

2.             Aggregate Principal Amount of Securities; Additional Securities.  The aggregate principal amount of Securities shall be initially $350,000,000 (except as noted in Sections 303, 304, 305, 306, 906 or 1107 of the Indenture); provided that the Company may, without the consent of the Holders of the Outstanding Securities, “reopen” this series of Securities so as to increase the aggregate principal amount of Securities Outstanding in compliance with the procedures set forth in the Indenture, including Sections 301 and 303 thereof, so long as any such additional Securities have the same tenor and terms (including, without limitation, rights to receive accrued and unpaid interest) as the Securities then Outstanding.

 

3.             Initial Issuance.  Except as provided in the following paragraph, the Securities shall be issued only as Registered Securities.  The Securities shall not be issued in temporary global form.  The Securities shall each be issued initially in the form of one or more permanent Global Securities registered in the name of the Depositary or its nominee (each Security represented by a Global Security being herein referred to as a “Book-Entry Security”) and deposited with the Trustee, as custodian for the Depositary.  The Depositary with respect to such Global Securities shall be The Depository Trust Company.  The circumstances under which a Global Security may be exchanged for Securities registered in the name of,

 

 

and any transfer of such Global Security may be registered to, a Person other than such Depositary or its nominee shall be as provided in Section 305 of the Indenture and Section 13 hereof.

 

Certificated Securities (“Certificated Securities”) shall be issued to all beneficial owners in exchange for their beneficial interests in a Global Security only if (1) The Depository Trust Company (a) notifies the Company that it is unwilling or unable to continue as depositary for the Global Securities or (b) has ceased to be a clearing agency registered under the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and in either case the Company fails to appoint a successor depositary; (2) the Company, at its option, notifies the Trustee in writing that it elects to cause the issuance of the Certificated Securities; or (3) there has occurred and is continuing a Default or Event of Default with respect to the Securities.

 

In addition, beneficial interests in a Global Security may be exchanged for Certificated Securities upon prior written notice given to the Trustee by or on behalf of The Depository Trust Company in accordance with the Indenture. In all cases, Certificated Securities delivered in exchange for any Global Security or beneficial interests in Global Securities will be registered in the names, and issued in any approved denominations, requested by or on behalf of the depositary (in accordance with its customary procedures).

 

4.             Interest.  The principal of the Securities shall bear interest at the rate of 7.750% per annum from the Issue Date or from the most recent Interest Payment Date to which interest has been paid or duly provided for, payable semi-annually in arrears on November 15 and May 15 (each, an “Interest Payment Date”) in each year, commencing May 15, 2015, to the Persons in whose names the Securities (or one or more Predecessor Securities) are registered at the close of business on the November 1 or May 1 immediately preceding such Interest Payment Dates (each a “Regular Record Date”), regardless of whether such Regular Record Date is a Business Day.  Any overdue principal of and premium, if any, on the Securities and any overdue installment of interest on the Securities shall, to the extent permitted by law, bear interest at the rate of 7.750% per annum.

 

Interest on the Securities shall be calculated on the basis of a 360-day year of twelve 30-day months.

 

5.             Stated Maturity.  The principal of each Security shall be due and payable on November 15, 2022.

 

6.             Place of Payment.  The Borough of Manhattan, The City of New York is hereby designated as a Place of Payment for the Securities, and the place where the principal of and premium, if any, and interest on the Securities shall be payable, where Securities may be surrendered for registration of transfer and exchange, and where notices and, if other than in the manner provided in Section 105 of the Indenture, demands to or upon the Company in respect of the Securities may be served, shall be the office or agency maintained by the Company for that purpose in the Borough of Manhattan, The City of New York, which initially shall be the office of the Trustee located at Four Albany Street, New York, New York, 10006, Attention: Corporate Trust Services.  Payment of principal of and interest on each Book-Entry Security represented by a Global Security shall be made to the Depositary or its nominee, as the case may be, as the sole registered owner and the sole Holder of the Book-Entry Securities represented thereby for all purposes under the Indenture.

 

7.             Redemption.  The Securities are subject to redemption at the option of the Company as provided in the form of Security attached hereto as Exhibit A and in the Indenture.

 

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8.             No Sinking Funds.  The Company shall not have any obligation to redeem or purchase any Securities pursuant to any sinking fund or analogous provisions or at the option of a Holder thereof.

 

9.             Authorized Denominations.  The Securities shall be issued in denominations of $2,000 and integral multiples of $1,000 in excess thereof.

 

10.          Change of Control.  The Securities are subject to repurchase at the option of the Holders upon a Change of Control as provided in the form of Security attached hereto as Exhibit A and in the Indenture.

 

11.          Subsidiary Guarantees.  The Securities shall not be guaranteed by any of the Company’s Subsidiaries on the Issue Date.  However, the Securities may be guaranteed by any of the Company’s Subsidiaries at any time following the Issue Date under the conditions described in the form of Security attached hereto as Exhibit A and in the Indenture.

 

12.          No Additional Amounts.  The Company shall not pay any additional amounts on Securities held by a Person who is a United States Alien in respect of any tax, assessment or governmental charge withheld or deducted.

 

13.          Book-Entry Provisions for Global Securities.

 

(1)           General.  Transfers of a Global Security shall be limited as specified in Section 204 of the Indenture (such Section 204 having been added by Section 103 of the First Supplemental Indenture). Transfers and exchanges of beneficial interests in a Global Security may be made in accordance with the rules and procedures of the Depositary, subject to the provisions of this Section 13 to the extent applicable.

 

(2)           Transfers of Global Securities for Certificated Securities.   In connection with any transfer of a beneficial interest in a Global Security to a Person who will take delivery thereof in the form of a Certificated Security, the Trustee shall reflect on its books and records and by endorsement on the grid attached to such Global Security the date and a decrease in the principal amount of such Global Security equal to the principal amount of the beneficial interest to be transferred, and the Company shall execute, and the Trustee shall authenticate and deliver, one or more Certificated Securities of like tenor and terms and in the same aggregate principal amount, registered in the name of the transferee.

 

(3)           Transfers of Certificated Securities for Global Securities.   In connection with any transfer of a Certificated Security to a Person who will take delivery thereof in the form of a beneficial interest in a Global Security, the Trustee shall reflect on its books and records and on the grid attached to such Global Security the date and an increase in the principal amount of such Global Security equal to the principal amount of the Certificated Security to be transferred, the Trustee shall cancel such Certificated Security and, if the entire principal amount of such Certificated Security is not being transferred, the Company shall execute, and the Trustee shall authenticate and deliver, one or more Certificated Securities equal in principal amount to the principal amount not being transferred, registered in the name of the transferor.

 

(4)           Transfers Among Global Securities.  In connection with any transfer of a beneficial interest in a Global Security to a Person who will take delivery thereof in the form of a beneficial interest in another Global Security, the Trustee shall reflect on its books and records and by endorsement on the grid attached to such original Global Security the date and a decrease in the principal amount of such first Global Security equal to the principal amount of the beneficial interest to be so transferred, and shall also reflect on its books and records and on the grid attached to such second Global

 

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Security the date and an increase in the principal amount of such Global Security equal to the principal amount of the beneficial interest to be transferred.

 

(5)           Exchange of all Global Securities for Certificated Securities.  In the event that Global Securities are exchangeable for Certificated Securities as provided in the last paragraph of Section 305 of the Indenture (such paragraph having been added by Section 106(b) of the First Supplemental Indenture), and, in the case of an event described in clause (i) of such paragraph, the Company fails to appoint a successor depositary, the Global Securities shall be deemed to be surrendered to the Trustee for cancellation, and the Company shall execute, and the Trustee shall authenticate and deliver, to each beneficial owner identified by the Depositary in exchange for its beneficial interest in the Global Securities an equal aggregate principal amount of Certificated Securities, registered in the names provided by the Depositary.

 

14.          The Securities shall have such other terms and provisions as are set forth in the form of Security attached hereto as Exhibit A (all of which is incorporated by reference in and made a part of this Certificate as if set forth in full at this place).

 

A.                                    Establishment of Form of Security Pursuant to Section 201 of Indenture.  It is hereby established pursuant to Section 201 of the Indenture that the Securities shall be substantially in the form attached as Exhibit A hereto.

 

B.            Order for the Authentication and Delivery of Securities Pursuant to Section 303 of Indenture.  It is hereby ordered pursuant to Section 303 of the Indenture that the Trustee authenticate, in the manner provided by the Indenture one Security in the aggregate principal amount of $350,000,000, CUSIP No. 868536 AW3, ISIN No. US868536AW39, Certificate No. R-1 in the name of Cede & Co., as nominee of the Depository Trust Company, which such Security has been heretofore duly executed by the proper officers of the Company and delivered to you as provided in the Indenture, and to hold each said authenticated Security in your capacity as custodian on behalf of the Depository Trust Company on November 14, 2014.

 

Pursuant to Section 102 of the Indenture, the undersigned certify, in their capacities as officers of the Company and not in their individual capacities, as follows:  (i) each of the undersigned has read Sections 201, 301 and 303 of the Indenture, including the definitions related thereto, as well as such other instruments, agreements and other documents and records, as the undersigned has deemed necessary or appropriate to certify as to the matters set forth herein; (ii) in the opinion of each of the undersigned, each of the undersigned has made such examination or investigation as is necessary to enable such individual to express an informed opinion as to whether or not all conditions precedent provided in the Indenture relating to the authentication and delivery of the Securities have been complied with; and (iii) in the opinion of each of the undersigned, all conditions precedent referred to in clause (ii) above have been complied with.

 

[SIGNATURE PAGE FOLLOWS]

 

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IN WITNESS WHEREOF, on behalf of the Company we have hereunto signed our names.

 

Dated:  November 14, 2014

 

	
 
    	
SUPERVALU   INC.
    
	
 
    	
 
    	
 
    
	
 
    	
By
    	
/s/   BRUCE H. BESANKO
    
	
 
    	
 
    	
Bruce   H. Besanko
    
	
 
    	
 
    	
Executive   Vice President and
    
	
 
    	
 
    	
Chief Financial Officer
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By
    	
/s/   KARLA C. ROBERTSON
    
	
 
    	
 
    	
Karla   C. Robertson
    
	
 
    	
 
    	
Executive   Vice President, General Counsel and
    
	
 
    	
 
    	
Corporate Secretary
    

 

 

EXHIBIT A

 

Unless this certificate is presented by an authorized representative of The Depository Trust Company, a New York corporation (“DTC”), to the Company or its agent for registration of transfer, exchange or payment, and any certificate issued is registered in the name of Cede & Co. or in such other name as is requested by an authorized representative of DTC (and any payment is made to Cede & Co. or to such other entity as is requested by an authorized representative of DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the registered owner hereof, Cede & Co., has an interest herein.

 

This Security is a Global Security within the meaning of the Indenture hereinafter referred to and is registered in the name of DTC, as Depositary for this series of Securities (the “Depositary”), or a nominee of the Depositary.  This Security is exchangeable for Securities registered in the name of a Person other than the Depositary or its nominee only in the limited circumstances described in the Indenture, and no transfer of this Security (other than a transfer of this Security as a whole by the Depositary to a nominee of the Depositary or by a nominee of the Depositary to the Depositary or another nominee of the Depositary) may be registered except in such limited circumstances.

 

 

[Face of Note]

 

	
REGISTERED NO.            
    	
REGISTERED
    
	
 
    	
PRINCIPAL
    
	
CUSIP NO. 868536   AW3
    	
AMOUNT:  U.S. $                    ,
    
	
ISIN NO. US868536AW39
    	
as revised by the Schedule of Increases
    
	
 
    	
and   decreases in Global Security
    
	
 
    	
attached   hereto
    

 

SUPERVALU INC.

 

7.750% Senior Notes due 2022

 

SUPERVALU INC., a corporation duly organized and existing under the laws of Delaware (herein called the “Company”, which term includes any successor Person under the Indenture referred to below), for value received, hereby promises to pay to [                                        ], or registered assigns, the principal sum of [                                        ] United States Dollars ($[                ]), as revised by a Schedule of Increases and Decreases in Global Security attached hereto, on November 15, 2022, and to pay interest thereon from the Issue Date, or from the most recent Interest Payment Date to which interest has been paid or duly provided for, semi-annually in arrears on November 15 and May 15 in each year, commencing on May 15, 2015 at the rate of 7.750% per annum, until the principal hereof is paid or made available for payment, and (to the extent that the payment of such interest shall be legally enforceable) at the rate of 7.750% per annum on any overdue principal and on any overdue installment of interest.  The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in such Indenture, be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest, which shall be the November 1 and May 1 (whether or not a Business Day), as the case may be, next preceding such Interest Payment Date.  Except as otherwise provided in the Indenture, any such interest not so punctually paid or duly provided for shall forthwith cease to be payable to the registered Holder on such Regular Record Date and may either be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice of which shall be given to Holders of Securities of this series not less than 10 days prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities of this series may be listed, and upon such notice as may be required by such exchange, all as more fully provided in said Indenture.

 

Payment of the principal of and interest on any Security of this series (that is not a Global Security) will be made at the office or agency of the Company maintained for that purpose in The City of New York.  Payment of principal of and interest on any Global Security will be made to the Depositary or its nominee, as the case may be, as the sole registered owner and the sole Holder of the Global Security for all purposes under the Indenture.

 

Payment of the principal of and interest on this Security will be made in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public or private debts.

 

Reference is hereby made to the further provisions of this Security set forth below, which further provisions shall for all purposes have the same effect as if set forth at this place.

 

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Unless the certificate of authentication hereon has been executed by the Trustee referred to below, directly or through an Authenticating Agent, by manual signature of an authorized signatory, this Security shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose.

 

IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed under its corporate seal.

 

	
 
    	
SUPERVALU   INC.
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By
    	
 
    
	
 
    	
 
    	
Name:
    	
Bruce   H. Besanko
    
	
 
    	
 
    	
Title:
    	
Executive   Vice President and
    
	
 
    	
 
    	
 
    	
Chief   Financial Officer
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Attest:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Name:
    	
Karla   C. Robertson
    	
 
    	
 
    
	
Title:
    	
Executive   Vice President, 
    	
 
    	
 
    
	
 
    	
General   Counsel and Corporate Secretary
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
Dated:
    	
 
    	
 
    	
 
    

 

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TRUSTEE’S CERTIFICATE OF AUTHENTICATION

 

This is one of the Securities of the series designated herein referred to in the within-mentioned Indenture.

 

	
 
    	
DEUTSCHE   BANK TRUST COMPANY AMERICAS
   as Trustee
    
	
 
    	
 
    
	
 
    	
By   DEUTSCHE BANK NATIONAL TRUST
   COMPANY
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
 
    	
Authorized Signature
    

 

 

[Back of Note]

 

SUPERVALU INC.

 

7.750% Senior Notes due 2022

 

This Security is one of a duly authorized issue of securities of the Company (herein called the “Securities”), issued and to be issued in one or more series under an Indenture, dated as of July 1, 1987, as amended and supplemented by the First Supplemental Indenture dated as of August 1, 1990, the Second Supplemental Indenture dated as of October 1, 1992, the Third Supplemental Indenture dated as of September 1, 1995, the Fourth Supplemental Indenture dated as of August 4, 1999 and the Fifth Supplemental Indenture dated as of September 17, 1999 (the Indenture, as so amended and supplemented, being herein called the “Indenture”), between the Company and Deutsche Bank Trust Company Americas (formerly known as Bankers Trust Company), as Trustee (herein called the “Trustee,” which term includes any successor trustee under the Indenture), to which Indenture reference is hereby made for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee and the Holders of the Securities that are not set forth herein and of the terms upon which the Securities are, and are to be, authenticated and delivered.  This Security is one of the series designated above, initially in aggregate principal amount to U.S. $350,000,000; provided that the aggregate principal amount of the Securities of this series which may be Outstanding may be increased by the Company upon the terms and subject to the conditions set forth in the Indenture.

 

The Securities of this series are issuable only in fully registered form, without coupons, in denominations of $2,000 and any integral multiple of $1,000 in excess thereof.  The Securities of this series may be issued, in whole or in part, in the form of one or more Global Securities bearing the legend specified in the Indenture regarding certain restrictions on registration of transfer and exchange and issued to the Depositary or its nominee and registered in the name of the Depositary or such nominee.  As provided in the Indenture and subject to certain limitations (including, if this Security is a Global Security, certain additional limitations) therein set forth, Securities of this series issued in definitive registered form are exchangeable for a like aggregate principal amount of Securities of this series and of like tenor of a different authorized denomination, as requested by the Holder surrendering the same.

 

1.                                      Interest and Method of Payment.  Payments of interest hereon with respect to any Interest Payment Date will include interest accrued to such Interest Payment Date.  Interest hereon shall be computed on the basis of a 360-day year consisting of twelve 30-day months.

 

Any payment on this Security due on any day which is not a Business Day need not be made on such day, but may be made on the next succeeding Business Day with the same force and effect as if made on such due date.

 

2.                                      Optional Redemption.

 

i.              The Company shall have the right to redeem, at any time prior to November 15, 2017, on any one or more occasions, upon not less than 30 nor more than 60 days’ notice, up to 35% of the aggregate principal amount of the Securities of this series (including any additional Securities) at a Redemption Price equal to 107.750% of the principal amount thereof, plus accrued and unpaid interest, if any, to the redemption date, subject to the rights of Holders of Securities on the relevant record date to receive accrued and unpaid interest on the relevant Interest Payment Date, with the net cash proceeds of one or more Equity Offerings; provided that:

 

 

(a)           at least 65% of the aggregate principal amount of the Securities of this series (including any additional Securities) remains Outstanding immediately after the occurrence of such redemption (excluding Securities held by the Company or its Affiliates); and

 

(b)           the redemption must occur within 60 days of the date of the closing of such Equity Offering.

 

ii.             The Company shall have the right to redeem, at any time prior to November 15, 2018, on any one or more occasions, upon not less than 30 nor more than 60 days’ notice, all or a part of the Securities of this series at any time or from time to time in part, at the option of the Company, at a Redemption Price equal to 100% of the principal amount of the Securities to be redeemed, plus the Applicable Premium as of, and accrued and unpaid interest, if any, to the redemption date, subject to the rights of Holders of Securities on the relevant Record Date to receive interest due on the relevant Interest Payment Date.

 

iii.            The Company shall have the right to redeem, on or after November 15, 2018, on any one or more occasions, upon not less than 30 nor more than 60 days’ notice, all or a part of the Securities of this series at any time or from time to time in part, at the option of the Company, at the Redemption Prices (expressed as percentages of principal amount) set forth below plus accrued and unpaid interest, if any, to the applicable redemption date, if redeemed during the twelve-month period beginning on November 15 of the years indicated below; provided, however, that if the redemption date is after a Regular Record Date and before the related Interest Payment Date, accrued and unpaid interest shall be payable to the Holders of those Securities, or one or more Predecessor Securities, registered as such at the close of business on the relevant Regular Record Dates according to their terms and the provisions of the Indenture:

 

	
Year
    	
 
    	
Percentage
    	
 
    
	
2018
    	
 
    	
103.875
    	
%
    
	
2019
    	
 
    	
101.938
    	
%
    
	
2020   and thereafter
    	
 
    	
100.000
    	
%
    

 

No Securities of $2,000 or less will be redeemed in part.  Notices of redemption will be sent by first class mail at least 30 but not more than 60 days before the redemption date to each Holder of Securities to be redeemed at its registered address.  The notice of redemption for the Securities will state, among other things, the amount of Securities to be redeemed, the redemption date, the Redemption Price and the place or places that payment will be made upon presentation and surrender of Securities to be redeemed.  Notices of redemption may not be conditional.

 

If less than all of the Securities are to be redeemed at the Company’s option, the Company will notify the Trustee at least 45 days prior to the redemption date, or any shorter period as may be satisfactory to the Trustee, of the aggregate principal amount of the Securities to be redeemed and the redemption date.  The Securities will be redeemed in accordance with the procedures of the relevant depositary or, in the case of certificated Securities, on a pro rata basis.  If any Security is to be redeemed in part only, the notice of redemption that relates to that Security will state the portion of the principal amount thereof to be redeemed.  A new Security in principal amount equal to the unredeemed portion of the original Security will be issued in the name of the Holder thereof upon cancellation of the original Security.  Securities called for redemption become due on the date fixed for redemption.  On and after the redemption date, interest ceases to accrue on Securities or portions of them called for redemption.

 

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3.                                      Repurchase at Holders’ Option upon a Change of Control.  If a Change of Control shall occur at any time, then the Company shall be required to make an offer to each Holder of the Securities of this series to purchase such Holder’s Securities in whole or in part (equal to $2,000, or an integral multiple of $1,000 in excess thereof), at a purchase price (the “Change of Control Purchase Price”) in cash in an amount equal to 101% of the principal amount of such Securities, plus accrued and unpaid interest on the principal amount being purchased to, but not including, the date of purchase (the “Change of Control Purchase Date”) plus accrued and unpaid interest on the principal amount being repurchased to, but not including, such Change of Control Purchase Date and in accordance with the other procedures set forth in the Securities of this series; provided, however, that if the Change of Control Purchase Date is after a Regular Record Date and prior to the related Interest Payment Date, accrued and unpaid interest shall be payable to the Holders of those Securities, or one or more Predecessor Securities, registered as such at the close of business on the relevant Regular Record Dates pursuant to the offer mechanics described below (the “Change of Control Offer”); provided further, however, that the Company shall not be obliged to repurchase Securities of this series as described under this Section 3 in the event and to the extent that the Company has unconditionally exercised its right to redeem all of the Securities of this series pursuant to the provisions described under Section 2 above.

 

Within 30 days of any Change of Control, the Company shall notify the Trustee thereof and give written notice of such Change of Control to each Holder of Securities of this series by sending notice to the depositary (in the case of Global Securities) or, in the case of certificated Securities, by sending notice by first-class mail, postage prepaid, at such Holder’s address appearing in the security register, stating (in either case), among other things:

 

·                                          that a Change of Control has occurred and the date of such event;

 

·                                          the circumstances and relevant facts regarding such Change of Control;

 

·                                          the Change of Control Purchase Price and the Change of Control Purchase Date which shall be fixed by the Company on a Business Day no earlier than 30 days nor later than 60 days from the date such notice is mailed, or such later date as is necessary to comply with requirements under the Exchange Act and any other applicable securities laws and regulations;

 

·                                          that any Security of this series not tendered shall continue to accrue interest and, unless the Company defaults in payment of the Change of Control Purchase Price, any Securities of this series accepted for payment pursuant to the Change of Control Offer shall cease to accrue interest after the Change of Control Purchase Date;

 

·                                          that Holders shall be entitled to withdraw their election if the Company or the Trustee, as the case may be, receives, not later than the Change of Control Purchase Date, a telegram, facsimile transmission or letter setting forth the name of the Holder, the principal amount of the Security (or portions thereof) the Holder delivered for purchase and a statement that such Holder is withdrawing such Holder’s election to have such Security purchased;

 

·                                          that Holders whose Securities were purchased in part shall be issued new Securities equal in principal amount to the unpurchased portion of the Securities surrendered (or transferred by book-entry transfer); and

 

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·                                          any other procedures the Holders must follow in order to tender their Securities (or portions thereof) for payment and the procedures that Holders must follow in order to withdraw an election to tender Securities (or portions thereof) for payment.

 

A Change of Control Offer may be made in advance of a Change of Control, and conditioned upon the occurrence of such Change of Control, if a definitive agreement is in place for the Change of Control at the time of making of the Change of Control Offer.  To the extent that the provisions of any securities laws or regulations conflict with the Change of Control provisions of the Securities of this series, the Company shall comply with the applicable securities laws and regulations and shall not be deemed to have breached the Company’s obligations under the provisions of this Section 3 by virtue of such compliance.

 

The Change of Control provisions described in this Section 3 shall be applicable whether or not any other provisions of the Indenture or the Securities of this series are applicable.

 

The Company shall not be required to make a Change of Control Offer upon a Change of Control if a third party makes the Change of Control Offer in the manner, at the times and otherwise in compliance with the requirements set forth in the Indenture and the Securities of this series applicable to a Change of Control Offer made by the Company and purchases all such Securities validly tendered and not withdrawn under such Change of Control Offer.

 

The Trustee shall promptly authenticate and deliver a new Security or Securities equal in principal amount to any unpurchased portion of Securities surrendered, if any, to the Holder of Securities of this series in global form or to each Holder of certificated Securities; provided that each such new Security shall be in a principal amount of $2,000, or an integral multiple of $1,000 in excess thereof.  The Company shall publicly announce the results of the Change of Control Offer on or as soon as practicable after the Change of Control Purchase Date.

 

The Company shall comply, to the extent applicable, with the applicable tender offer rules, including Rule 14e-1 under the Exchange Act, and any other applicable securities laws or regulations in connection with a Change of Control Offer.  To the extent that the provisions of any applicable securities laws or regulations conflict with the provisions of this covenant (other than the obligation to make an offer pursuant to this covenant), the Company shall comply with the securities laws and regulations and shall not be deemed to have breached the Company’s obligations described in this Section 3 by virtue thereof.

 

4.             Guarantees.  The Company may not permit any of its Subsidiaries to guarantee, or become a co-obligor on, any of the Company’s Debt Securities or the Debt Securities of any other of the Company’s Subsidiaries or issue any Debt Securities, unless such Subsidiaries fully and unconditionally guarantee the Securities of this series on a senior basis; provided that a Subsidiary shall not be required to Guarantee the Securities of this series with respect to Debt existing on the Issue Date, so long as (1) the existing Debt is not subsequently guaranteed by such Subsidiary, (2) the existing Debt is not refinanced with Debt that is guaranteed by such Subsidiary, except for Debt that is refinanced on substantially similar terms as exist on the Issue Date, including Guarantees of such Debt, or (3) such Subsidiary does not subsequently become a co-obligor on the existing Debt. Each Subsidiary delivering a Guarantee of the Securities of this series shall be referred to as a “Subsidiary Guarantor.”

 

A Subsidiary Guarantor’s Securities Guarantee shall be automatically and unconditionally released:

 

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(1)                                 in connection with any sale or other disposition of all or substantially all of the Capital Stock (or the shares of any holding company of such Subsidiary Guarantor (other than the Company)) of that Subsidiary Guarantor to a Person that is not (either before or after giving effect to such transaction) the Company or a Subsidiary, if the liability with respect to any Securities in connection with which the Securities Guarantee was executed, or would have been executed pursuant to this Section 4 had a Securities Guarantee not been executed previously, is also released;

 

(2)                                 upon defeasance and discharge of the Securities as provided under Section 403 of the Indenture; or

 

(3)                                 so long as no Event of Default has occurred and is continuing, such Subsidiary Guarantor is unconditionally released and discharged from its liability with respect to all such Securities in connection with which such Securities Guarantee was executed, or would have been executed pursuant to the preceding paragraph if such Subsidiary Guarantor had not already executed a Securities Guarantee; or

 

(4)                                 upon the full and final payment and performance of all of the Company’s obligations under the Securities of this series.

 

The Company covenants and agrees that it shall cause any Subsidiary that becomes obligated to guarantee the Securities pursuant to the terms of this Section 4 to execute a supplemental indenture and to deliver any other documents requested by the Trustee, in such form and substance as is satisfactory to the Trustee, pursuant to which such Subsidiary shall guarantee the obligations of the Company under the Securities and the Indenture in accordance with this Section 4.

 

5.                                      Certain Covenants.

 

i.                                         Restrictions on Liens.  The Company shall not, and shall not permit any Domestic Subsidiary to, issue, assume or guarantee any Debt if the Debt is secured by any mortgage, security interest, pledge, lien or other encumbrance (“Lien”) upon any Operating Property of the Company or of any Domestic Subsidiary or upon any shares of stock or indebtedness of any Domestic Subsidiary, whether owned at the date of the Indenture or thereafter acquired, without effectively securing the Securities equally and ratably with the Debt. This restriction does not apply to:

 

(1)                                 Liens on any property acquired, constructed or improved by the Company or any Domestic Subsidiary after July 1, 1987, which are created or assumed contemporaneously with, or within 180 days after, that acquisition or completion of that construction or improvement (or within six months thereafter pursuant to a firm commitment for financing arrangements entered into within the 180-day period) to secure or provide for the payment of all or any part of the purchase price or cost thereof incurred after July 1, 1987, or Liens existing on property at the time of its acquisition (including acquisition through merger or consolidation); provided that such Liens were in existence prior to the contemplation of such acquisition, merger or consolidation and do not extend to any assets other than those of the Person merged into or consolidated with the Company or the Domestic Subsidiary;

 

(2)                                 Liens on property of any corporation existing at the time it becomes a Domestic Subsidiary;

 

5

 

(3)                                 Liens to secure Debt of a Domestic Subsidiary to the Company or to another Domestic Subsidiary;

 

(4)                                 Liens in favor of governmental bodies to secure partial progress, advance or other payments pursuant to any contract or statute or to secure Debt incurred to finance the purchase price or cost of constructing or improving the property subject to the Liens; or

 

(5)                                 Liens for extending, renewing or replacing Debt secured by any Lien referred to in clauses (1) to (4), inclusive, above or in this clause (5) or any Lien existing on the date that Securities of this series were first issued under the Indenture, provided that the principal amount of the new Debt secured by the relevant Lien does not exceed the principal amount of the Debt so secured at the time of the extension, renewal or replacement and that the extension, renewal or replacement is limited to all or a part of the property which secured the Lien so extended, renewed or replaced and improvements on that property.

 

This restriction does not apply to the issuance, assumption or guarantee by the Company or any Domestic Subsidiary of Debt subject to a Lien which would otherwise be subject to the foregoing restrictions up to an aggregate amount which, together with all other secured Debt of the Company and the Company’s Domestic Subsidiaries (not including secured Debt permitted under the foregoing exceptions) and the Value of Sale and Lease-back Transactions existing at that time (other than Sale and Lease-back Transactions the proceeds of which have been applied to the retirement of debt securities, including the Securities, or of Funded Debt or to the purchase of other Operating Property, and other than Sale and Lease-back Transactions in which the property involved would have been permitted to be secured with a Lien under clause (1) above), does not exceed the greater of $200,000,000 or 10% of Consolidated Net Tangible Assets.

 

ii.                                     Restrictions on Sale and Lease-back Transactions.  The Company shall not, and shall not permit any Domestic Subsidiary to, enter into any Sale and Lease-back Transaction unless the net proceeds of the Sale and Lease-back Transactions are at least equal to the fair value (as determined by the Board of Directors or the Company’s President or any of the Company’s Vice Presidents) of the Operating Property to be leased and either:

 

(1)                                 the Company or the Domestic Subsidiary would be entitled to incur Debt secured by a Lien on the property to be leased without securing the Securities of this series or any other debt securities issued under the Indenture, pursuant to clause (1) of the first paragraph or pursuant to the second paragraph under Section 5(i) hereof; or

 

(2)                                 the Value thereof would be an amount permitted under the second paragraph under Section 5(i) hereof; or

 

(3)                                 the Company, within 120 days of the effective date of any such arrangement (or in the case of (c) below, within six months thereafter pursuant to a firm purchase commitment entered into within such 120 day period), applies an amount equal to the fair value (as so determined) of the Operating Property:

 

a)                         to the redemption or repurchase of debt securities issued under the Indenture;

 

b)                         to the payment or other retirement of the Company’s Funded Debt that ranks pari passu with the Securities of this series or of Funded Debt of a Domestic Subsidiary 

 

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(other than, in either case, Funded Debt owned by the Company or a Domestic Subsidiary); or

 

c)                          to the purchase of Operating Property (other than that involved in the Sale and Lease-back Transaction).

 

6.             Events of Default. “Event of Default” shall mean with respect to the Securities of this series, any of the following:

 

(1)                                 default in the payment of principal or premium, if any, on the Securities when due;

 

(2)                                 default in the payment of any interest on any Securities when due, continued for 30 days;

 

(3)                                 there shall be a default in the performance or breach of the provisions described in Article Eight of the Indenture or Section 3 hereof;

 

(4)                                 default in the performance, or breach, of any of the Company’s other covenants in the Indenture (other than a covenant included in the Indenture solely for the benefit of a series of debt securities other than the Securities of this series), continued for 60 days after written notice to the Company by the Trustee or the Holders of at least 10% in principal amount of the Securities;

 

(5)                                 there shall be a default under any mortgage, indenture or instrument under which there may be incurred or by which there may be secured or evidenced any Debt by the Company or any Domestic Subsidiary whether such Debt now exists, or is created after the Issue Date, if that default:

 

·                                          is caused by a failure to make any payment when due at the final maturity of such Debt (a “Payment Default”); or

 

·                                          results in the acceleration of such Debt prior to its express maturity, and, in each case, the amount of any such Debt, together with the amount of any other such Debt under which there has been a Payment Default or the maturity of which has been so accelerated, aggregates $100.0 million or more;

 

(6)                                 failure by the Company or any of the Company’s Domestic Subsidiaries to pay final judgments (to the extent such judgments are not paid or covered by insurance provided by a reputable carrier that has the ability to perform and has acknowledged coverage in writing) aggregating in excess of $100.0 million, which judgments are not paid, discharged or stayed for a period of 60 days;

 

(7)                                 any Securities Guarantee shall for any reason cease to be, or shall for any reason be asserted in writing by any Subsidiary Guarantor not to be, in full force and effect and enforceable in accordance with its terms, except to the extent contemplated by the Indenture and any such Securities Guarantee;

 

(8)                                 a court having jurisdiction in the premises enters a decree or order for:

 

·                                          relief in respect of the Company, any Guarantor or any Significant Subsidiary in an involuntary case under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect;

 

7

 

·                                          appointment of a receiver, liquidator, assignee, custodian, trustee, sequestrator or similar official of the Company or any Significant Subsidiary or for all or substantially all of the property and assets of the Company, any Guarantor or any Significant Subsidiary; or

 

·                                          the winding up or liquidation of the affairs of the Company, or any of its Significant Subsidiary and, in each case, such decree or order shall remain unstayed and in effect for a period of 30 consecutive days;

 

(9)                                 The Company, any Guarantor or any of its Significant Subsidiary:

 

·                                          commences a voluntary case under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect, or consents to the entry of an order for relief in an involuntary case under any such law;

 

·                                          consents to the appointment of or taking possession by a receiver, liquidator, assignee, custodian, trustee, sequestrator or similar official of the Company or any of its Significant Subsidiary or for all or substantially all of the property and assets of the Company or any of its Significant Subsidiary; or

 

·                                          effects any general assignment for the benefit of creditors.

 

If an Event of Default described in clauses (1) through (7) of the prior paragraph with respect to the Securities of this series occurs and is continuing, either the Trustee or the Holders of at least 25% in principal amount of the Securities of this series, by notice to the Company, may declare the principal of all of such Securities to be due and payable immediately and upon such declaration the principal amount shall become immediately due and payable.  If an Event of Default described in clauses (8) or (9) of the prior paragraph occurs and is continuing, then all the Securities of this series shall ipso facto become and be due and payable immediately in an amount equal to the principal amount of the Securities, together with accrued and unpaid interest to the date the Securities of this series become due and payable, without any declaration or other act on the part of the Trustee or any Holder.  However, at any time after a declaration of acceleration with respect to the Securities of this series has been made, but before a judgment or decree based on the acceleration has been obtained, the holders of a majority in principal amount of the Securities of this series may, under certain circumstances, rescind and annul such acceleration.

 

If an Event of Default with respect to the Securities of this series shall occur and be continuing, the principal of the Securities of this series may be declared due and payable in the manner and with the effect provided in the Indenture.

 

7.                                      Defeasance.  The Indenture contains provisions for defeasance at any time of the Company’s obligations in respect of (i) the entire indebtedness of this Security or (ii) certain restrictive covenants with respect to this Security, in each case upon compliance with certain conditions set forth therein.

 

8.                                      Modification and Waiver.  The Company and the Trustee may modify and amend the Indenture with respect to the Securities of this series with the consent of the holders of a majority in principal amount of the Securities.  However, without the consent of each affected Holder, no modification or amendment may:

 

8

 

·                                          change the Stated Maturity of the principal, or any installment of principal or interest, on the Securities or alter the provisions with respect to the redemption of the Securities;

 

·                                          reduce the principal, premium, if any, or any interest rate on the Securities of this series;

 

·                                          change the Company’s obligation to maintain an office or agency in the places and for the purposes specified in the Indenture or the currency of payment of principal or interest on the Securities of this series;

 

·                                          impair the right to institute suit to enforce any payment after the Stated Maturity or redemption date;

 

·                                          reduce the percentage of the principal amount of Securities of this series required to approve any modification or amendment of the Indenture;

 

·                                          reduce the percentage of the principal amount of Securities required to approve any waiver of compliance with provisions of the Indenture or the Securities of this series or waiver of defaults;

 

·                                          impair the right to institute suit for the enforcement of any payment on or with respect to the Securities of this series;

 

·                                          amend, change or modify the Company’s obligation to make and consummate a Change of Control Offer in the event of a Change of Control in accordance with Section 3 hereof including, in each case, amending, changing or modifying any definition relating thereto;

 

·                                          except as otherwise permitted under Article Eight of the Indenture consent to the assignment or transfer by the Company of any of the Company’s rights or obligations under the Indenture;

 

·                                          modify any of the provisions of this Section 8, Section 513 and/or Section 1013 of the Indenture, except to increase any such percentage or to provide that certain other provisions of the Indenture cannot be modified or waived without the consent of the Holders of each Securities affected hereby.

 

The Company and the Trustee may, without the consent of any Holders of the Securities of this series, modify the Indenture with respect to such Securities to, among other things:

 

·                                          evidence the succession of another Person as obligor under the Indenture and the Securities of this series;

 

·                                          add to the Company’s covenants under the Indenture or add additional Events of Default;

 

·                                          change or eliminate any provision of the Indenture, provided that the change or elimination becomes effective only when there is no outstanding note which is entitled to the benefit of that provision;

 

·                                          secure the Securities of this series pursuant to the requirement described above under Section 5(i) hereof;

 

9

 

·                                          establish the form or terms of a series of debt securities;

 

·                                          evidence the appointment of a successor trustee or co-trustee;

 

·                                          comply with requirements of the U.S. Securities and Exchange Commission in order to effect or maintain the qualification of the Indenture under the Trust Indenture Act; or

 

·                                          cure any ambiguity, correct or supplement any provision which may be inconsistent, or make any other provision as to matters or questions under the Indenture, provided that action does not adversely affect the interests of Holders of the Securities of this series in any material respect.

 

The Holders of a majority in principal amount of the Securities of this series may, on behalf of the holders of all such Securities, waive, insofar as that series is concerned, the Company’s compliance with covenants set forth in Section 5 hereof and in Sections 1004 to 1008 of the Indenture.

 

The holders of a majority in principal amount of the outstanding Securities of this series may, on behalf of the Holders of all such Securities, waive any past default under the Indenture with respect to the Securities of this series.  However, they may not waive a default in the payment of principal, premium, if any, or interest on any note or in respect of a provision which under the Indenture cannot be modified or amended without the consent of the Holder of each outstanding Security of this series.

 

9.                                      Definitions.

 

“Applicable Premium” means, with respect to any Security on any redemption date, the greater of:

 

(1)                                 1.0% of the principal amount of such Security; or

 

(2)                                 the excess of:

 

a.              the present value at such redemption date of (i) the redemption price of the Security at November 15, 2018 (such redemption price being set forth in the table appearing in Section 2(iii) above) plus (ii) all required interest payments due on the Security through at November 15, 2018 (excluding accrued but unpaid interest to the redemption date), computed using a discount rate equal to the Treasury Rate as of such redemption date plus 50 basis points; over

 

b.              the principal amount of such Security.

 

“Beneficial Owner” has the meaning assigned to such term in Rule 13d-3 and Rule 13d-5 under the Exchange Act, except that in calculating the beneficial ownership of any particular “person” (as that term is used in Section 13(d)(3) of the Exchange Act), such “person” will be deemed to have beneficial ownership of all securities that such “person” has the right to acquire by conversion or exercise of other securities, whether such right is currently exercisable or is exercisable only upon the occurrence of a subsequent condition.  The terms “Beneficially Owns” and “Beneficially Owned” will have a corresponding meaning.

 

10

 

“Board of Directors” means, either the Company’s board of directors or the Company’s duly authorized executive committee of that board and with respect to any other Person, the board or committee of such Person serving a similar function.

 

“Business Day” means, with respect to the Securities of this series, each Monday, Tuesday, Wednesday, Thursday and Friday that is not a day on which banking institutions in The City of New York are authorized or obligated by law or executive order to close.

 

“Capital Stock” means:

 

(1)                                 in the case of a corporation, corporate stock;

 

(2)                                 in the case of an association or business entity, any and all shares, interests, participations, rights or other equivalents (however designated) of corporate stock;

 

(3)                                 in the case of a partnership or limited liability company, partnership or membership interests (whether general or limited); and

 

(4)                                 any other interest or participation that confers on a Person the right to receive a share of the profits and losses of, or distributions of assets of, the issuing Person.

 

“Change of Control” means the occurrence of any of the following:

 

(1)                                 the direct or indirect sale, transfer, conveyance or other disposition (other than by way of merger or consolidation) substantially as an entirety, in one or a series of related transactions, of the properties or assets of the Company and the Company’s Subsidiaries, taken as a whole, to any “person” (as that term is used in Section 13(d)(3) of the Exchange Act);

 

(2)                                 the adoption of a plan relating to the Company’s liquidation or dissolution;

 

(3)                                 any “person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the Exchange Act) becomes the Beneficial Owner, directly or indirectly, of 40% or more of the voting power of the Company’s Voting Stock;

 

(4)                                 the first day on which a majority of the members of the Company’s Board of Directors are not Continuing Directors; or

 

(5)                                 the Company consolidates with, or merge with or into, any Person, or any Person consolidates with, or merges with or into the Company, in any such event pursuant to a transaction in which any of the Company’s outstanding Voting Stock or the outstanding Voting Stock of such other Person is converted into or exchanged for cash, securities or other property, other than any such transaction where (A) the Company’s Voting Stock outstanding immediately prior to such transaction is converted into or exchanged for Voting Stock (other than Disqualified Stock) of the surviving or transferee Person constituting a majority of the outstanding shares of such Voting Stock of such surviving or transferee Person (immediately after giving effect to such issuance) and (B) immediately after such transaction, no “person” or “group” (as such terms are used in Section 13(d) and 14(d) of the Exchange Act) becomes, directly or indirectly, the Beneficial Owner of 40% or more of the voting power of the Voting Stock of the surviving or transferee Person.

 

11

 

“Consolidated Net Tangible Assets” means the total of all the assets appearing on the consolidated balance sheet of the Company and the Company’s Subsidiaries less the following:

 

(1)                                 current liabilities, including liabilities for indebtedness maturing more than 12 months from the date of original creation thereof but maturing within 12 months from the date of determination;

 

(2)                                 reserves for depreciation and other asset valuation reserves;

 

(3)                                 intangible assets including, without limitation, such items as goodwill, trademarks, trade names, patents and unamortized debt discount and expense carried as an asset on the balance sheet; and

 

(4)                                 appropriate adjustments on account of minority interests of other Persons holding stock in any Subsidiary.

 

Consolidated Net Tangible Assets shall be determined in accordance with generally accepted accounting principles and practices applicable to the type of business in which the Company and its Subsidiaries are engaged and which are approved by the independent accountants regularly retained by the Company, and may be determined as of a date not more than 60 days prior to the happening of the event for which such determination is being made.

 

“Continuing Directors” means, as of any date of determination, any member of the Company’s Board of Directors who:

 

(1)                                 was a member of the Board of Directors on the Issue Date; or

 

(2)                                 was nominated for election or elected to the Board of Directors with the approval of a majority of the Continuing Directors who were members of the Board of Directors at the time of such nomination or election.

 

“Debt” means all indebtedness for money borrowed.

 

“Debt Securities” means any Debt (including any Guarantee) issued in the form of a security in connection with a public offering, in a private placement pursuant to Rule 144A, Regulation S or otherwise under the Securities Act or sold on an agency basis by a broker-dealer or one of its affiliates and traded or able to be traded on a public or private basis; provided that Debt Securities shall not mean any industrial revenue bonds.

 

“Disqualified Stock” means any Capital Stock that, by its terms (or by the terms of any security into which it is convertible, or for which it is exchangeable, in each case at the option of the holder thereof), or upon the happening of any event, matures or is mandatorily redeemable, pursuant to a sinking fund obligation or otherwise, or redeemable at the option of the holder thereof, in whole or in part, on or prior to the date that is one year after the date on which the Securities mature.  Notwithstanding the preceding sentence, any Capital Stock that would constitute Disqualified Stock solely because the holders thereof have the right to require the Company to repurchase such Capital Stock upon the occurrence of a change of control or an asset sale will not constitute Disqualified Stock.  The term “Disqualified Stock” will also include any options, warrants or other rights that are convertible into Disqualified Stock or that are redeemable at the option of the holder, or required to be redeemed, prior to the date that is one year after the date on which the Securities mature.

 

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“Domestic Subsidiary” means any Subsidiary which owns an Operating Property.

 

“Equity Offering” means any public or private placement of the Company’s Capital Stock (other than Disqualified Stock) (other than pursuant to a registration statement on Form S-8 or otherwise relating to equity securities issuable under any employee benefit plan of ours) to any Person other than any Subsidiary.

 

“Funded Debt” means any Debt which by its terms matures at or is extendible or renewable at the sole option of the obligor without requiring the consent of the obligee to a date more than 12 months after the date of the creation of such Debt.

 

“Guarantee” means, as to any Person, a guarantee other than by endorsement of negotiable instruments for collection in the ordinary course of business, direct or indirect, in any manner including, without limitation, by way of a pledge of assets or through letters of credit or reimbursement agreements in respect thereof, of all or any part of any Debt of another Person.

 

 “Issue Date” means the date of original issuance of the Securities of this series under the Indenture.

 

 “Operating Property” means any manufacturing or processing plant, office facility, retail store, warehouse, distribution center or equipment located within the United States of America or its territories or possessions and owned and operated now or hereafter by the Company or any Domestic Subsidiary and having a book value on the date as of which the determination is being made of more than 0.65% of Consolidated Net Tangible Assets.

 

“Person” means any individual, corporation, partnership, joint venture, association, joint-stock company, trust, unincorporated organization or government or any agency or political subdivision thereof.

 

“Sale and Lease-back Transaction” means any arrangement with any Person providing for the leasing to the Company or any Domestic Subsidiary of any Operating Property (except for temporary leases for a term, including any renewal thereof, of not more than 36 months and except for leases between the Company and a Domestic Subsidiary or between Domestic Subsidiaries), which Operating Property has been or is to be sold or transferred by the Company or such Domestic Subsidiary to that Person.

 

“Securities Act” means the Securities Act of 1933, as amended from time to time.

 

“Securities Guarantee” means the Guarantee of the Securities of this series by a Subsidiary.

 

“Significant Subsidiary” means any Subsidiary that would constitute a “significant subsidiary” within the meaning of Article 1 of Regulation S-X of the Securities Act; provided, however, that 5% will be substituted for 10% in each place that it appears in such definition.

 

“Stated Maturity,” when used with respect to the notes and any payment of principal thereof or interest thereon, means the date specified in such note as the fixed date on which the principal of such note or interest payment is due and payable.

 

“Subsidiary” means a corporation more than 50% of the outstanding Voting Stock of which is owned, directly or indirectly, by the Company or by one or more other Subsidiaries, or by the Company and one or more other Subsidiaries.

 

13

 

“Treasury Rate” means, as of any redemption date, the yield to maturity as of the earlier of (a) such redemption date or (b) the date on which such Securities are defeased or satisfied and discharged, of the most recently issued United States Treasury securities with a constant maturity (as compiled and published in the most recent Federal Reserve Statistical Release H.15 (519) that has become publicly available at least two business days prior to such date (or, if such Statistical Release is no longer published, any publicly available source of similar market data)) most nearly equal to the period from the redemption date to November 15, 2018; provided, however,  that if the period from the redemption date to November 15, 2018, is less than one year, the weekly average yield on actually traded United States Treasury securities adjusted to a constant maturity of one year will be used. Any such Treasury Rate shall be obtained by the Company.

 

“Value” means, with respect to a Sale and Lease-back Transaction, as of any particular time, the amount equal to the greater of (1) the net proceeds from the sale or transfer of the property leased pursuant to that Sale and Lease-back Transaction or (2) the fair value in the opinion of the Company’s Board of Directors or the Company’s President or any of the Company’s Vice Presidents of that property at the time of entering into the Sale and Lease-back Transaction, in either case multiplied by a fraction, the numerator of which shall be equal to the number of full years of the term of the lease which is part of the Sale and Lease-back Transaction remaining at the time of determination and the denominator of which shall be equal to the number of full years of such term, without regard to any renewal or extension options contained in the lease.

 

“Voting Stock” means stock which ordinarily has voting power for the election of directors, whether at all times or only so long as no senior class of stock has such voting power by reason of any contingency.

 

10.                               Miscellaneous.

 

No reference herein to the Indenture and no provision of this Security or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of and interest on this Security at the times, places and rate, and in the coin or currency, herein prescribed.

 

As provided in the Indenture and subject to certain limitations (including, if this Security is a Global Security, the limitations set forth on the first page hereof) therein set forth, the transfer of this Security is registrable in the Security Register, upon surrender of this Security for registration of transfer at the office or agency of the Company in any place where the principal of and interest on this Security are payable, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Company and the Security Registrar, duly executed by, the Holder hereof or such Holder’s attorney duly authorized in writing, and thereupon one or more new Securities of this series and of like tenor, of authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees.

 

No service charge shall be made for any such registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith.

 

Prior to due presentment of this Security for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name this Security is registered as the owner hereof for all purposes, whether or not this Security be overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary.

 

14

 

This Security shall be governed by and construed in accordance with the laws of the State of New York.

 

All terms used in this Security which are defined in the Indenture shall have the meanings assigned to them in the Indenture.

 

 

15

 

ABBREVIATIONS

 

The following abbreviations, when used in the inscription above, shall be construed as though they were written out in full according to applicable laws or regulations:

 

TEN COM - as tenants in common

TEN ENT - as tenants by the entireties

JT TEN - as joint tenants with right of survivorship and not as tenants in common

	
UNIF   GIFT MIN ACT -
    	
 
    	
 Custodian
    	
 
    	
 
    
	
 
    	
(Cust)
    	
 
    	
(Minor)
    	
 
    
	
 
    	
under   the Uniform Gifts to Minors Act
    	
 
    	
 
    
	
 
    	
 
    	
(State)
    	
 
    
							

 

Additional abbreviations may also be used though not in the above list.

 

 

 

ASSIGNMENT

 

FOR VALUE RECEIVED, the undersigned registered holder(s) hereby sell(s), assign(s) and transfer(s) unto                                   

 

PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE

 

	
 
    	
 
    
	
 
    	
 
    

 

 

	
 
    
	
(Please Print or Typewrite Name and Address Including Postal Zip Code   of Assignee)
    
	
 
    
	
 
    
	
the   within Security and all rights thereunder, and hereby irrevocably   constitute(s) and appoint(s)
    
	
 
    
	
 
    
	
attorney   to transfer said Security on the books of the Company, with full power of   substitution in the premises.
    
	
 
    
	
Date:
    	
 
    	
 
    	
Your   Signature:
    	
 
    
	
 
    
	
Signature   Guarantee:
    	
 
    	
 
    
	
 
    	
(Signature must be guaranteed)
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Sign exactly as your name appears on the other   side of this Security.
    
							

 

NOTICE:  The signature(s) to this assignment must correspond with the name(s) as written upon the within instrument in every particular, without alteration or enlargement or any change whatever.  The signature(s) must be guaranteed by an eligible guarantor institution with membership in an approved signature guarantee “medallion” program pursuant to Commission Rule 17Ad-15.

 

 

 SCHEDULE A

 

Schedule of Increases and Decreases in Global Security

 

The initial principal amount of this Global Security is $                        .  The following increases or decreases in the principal amount of this Global Security have been made:

 

	
Date made
    	
 
    	
Amount of
   increase in
   principal amount
   of this Global
   Security
    	
 
    	
Amount of
   decrease in
   principal amount
   of this Global
   Security
    	
 
    	
Principal amount
   of this Global
   Security following
   such decrease or
   increase
    	
 
    	
Signature of
   authorized
   signatory of
   Trustee
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    

 

 

OPTION OF HOLDER TO ELECT PURCHASE

 

If you want to elect to have this Security purchased by the Company pursuant to Section 3 of the Security, check the box below:

 

o Section 3

 

If you want to elect to have only part of the Security purchased by the Company pursuant to Section 3 of the Security, state the amount you elect to have purchased:  $                                 

 

 

	
 
    	
Date:
    	
 
    
	
 
    	
 
    
	
 
    	
Your   Signature:
    	
 
    
	
 
    	
 
    
	
 
    	
(Sign   exactly as your name appears on the Security)
    
	
 
    	
 
    
	
 
    	
Signature   Guarantee:
    	
 
    
	
 
    	
 
    
	
 
    	
Tax   Identification No:Exhibit 10.1

 

AGREEMENT FOR THE EXCHANGE OF STOCK

by and among

NOWNEWS DIGITAL MEDIA TECHNOLOGY CO LTD.,

a Nevada corporation;

WORLDWIDE MEDIA INVESTMENTS CORP.,

an Anguilla corporation;

NOWNEWS NETWORK CO., LTD.,

a Taiwan corporation;

and those persons and entities specified
on

Pages 40 through 82, inclusive, this
Agreement,

as shareholders of WORLDWIDE MEDIA INVESTMENTS
CORP.

 

THIS
AGREEMENT FOR THE EXCHANGE OF STOCK (“Agreement”) is entered into effective the 14th day of November, 2014 (the “Effective
Date”), by and among NOWNEWS DIGITAL MEDIA TECHNOLOGY CO. LTD., a Nevada corporation (the “Company”); WORLDWIDE
MEDIA INVESTMENTS CORP., an Anguilla corporation (“Worldwide”); NOWNEWS NETWORK CO., LTD., a Taiwan corporation (“Taiwan
NOWnews”) and those persons and entities specified on Pages 40 through 82, inclusive, of this Agreement, each a shareholder
of Worldwide, (together, the “Worldwide Shareholders” and each a “Worldwide Shareholder”) and provides
for a process pursuant to which Worldwide will become a wholly owned subsidiary of the Company.

 

RECITALS

 

		A.	The Company is a reporting issuer pursuant to the Securities
Exchange Act of 1934, as amended (the “Exchange Act”), and participates on the Over-The-Counter Markets (the “OTC”).

 

		B.	Worldwide is a privately held corporation. Worldwide
has one wholly owned subsidiary which is Sky Media Investments Co., Ltd. (“Sky Media”), which owns a majority interest
in Taiwan NOWnews. For convenience, Sky Media and Taiwan NOWnews may be referred to in this Agreement as the “Worldwide
Subsidiaries” and each a “Worldwide Subsidiary”.

 

		C.	The Company desires to acquire, on the terms and subject to the conditions and in the manner specified
in this Agreement, all of the issued and outstanding shares of capital stock of Worldwide from the Worldwide Shareholders.

 

		D.	Worldwide believes that it is desirable and in the best interests of Worldwide that it be acquired
by the Company as a wholly owned subsidiary of the Company, and Worldwide desires that the acquisition proposal of the Company
be made available to the Worldwide Shareholders.

 

    	1

    	 

    

 

		E.	The Company is not prepared or willing to proceed with the transaction contemplated by the provisions
of this Agreement without the support, agreements, warranties and representations of Worldwide and the Worldwide Shareholders specified
in this Agreement, and the Company is proceeding in reliance upon such support, agreements, representations and warranties.

 

NOW, THEREFORE, IN CONSIDERATION OF
THE RECITALS SPECIFIED ABOVE THAT SHALL BE DEEMED TO BE A SUBSTANTIVE PART OF THIS AGREEMENT, AND THE MUTUAL COVENANTS, PROMISES,
UNDERTAKINGS, AGREEMENTS, REPRESENTATIONS AND WARRANTIES SPECIFIED IN THIS AGREEMENT AND OTHER GOOD AND VALUABLE CONSIDERATION,
THE RECEIPT AND SUFFICIENCY OF WHICH ARE HEREBY ACKNOWLEDGED, WITH THE INTENT TO BE OBLIGATED LEGALLY AND EQUITABLY, THE PARTIES
DO HEREBY COVENANT, PROMISE, AGREE, REPRESENT AND WARRANT AS FOLLOWS:

 

ARTICLE I

 

DEFINITIONS

 

As used
in this Agreement, in addition to terms defined elsewhere in this Agreement, the terms specified below in this Article I shall
have the definitions and meanings specified immediately after those terms, unless a different and common meaning of the term is
clearly indicated by the context, and variants and derivatives of the following terms shall have correlative meanings. To the extent
that certain of the definitions and meanings specified below suggest, indicate, or express agreements between or among parties
to this Agreement, or specify representations or warranties or covenants of a party, the parties to this Agreement agree to the
same, by execution of this Agreement. The parties to this Agreement agree that agreements, representations, warranties, and covenants
expressed in any part or provision of this Agreement shall, for all purposes of this Agreement, be treated in the same manner as
other such agreements, representations, warranties, and covenants specified elsewhere in this Agreement, and the article or section
of this Agreement within which such an agreement, representation, warranty, or covenant is specified shall have no separate meaning
or effect on the same.

 

1.1 Affiliate. When used with respect
to a person, an "affiliate" of that person is a person Controlling, Controlled by, or under common Control with that
person.

 

1.2 Agreement. This Agreement For
The Exchange of Stock, including all of its schedules and exhibits, if any, and all other documents specifically referred to in
this Agreement that have been or are to be delivered by a party to this Agreement to another such party in connection with the
Transaction or this Agreement, and including all duly adopted amendments, modifications, and supplements to or of this Agreement
and such schedules, exhibits, and other documents.

 

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1.3 Audited Financial Statements. The
balance sheet, income statement, statement of stockholders equity, and statement of cash flows or, in each instance, equivalent
statements of a respective company, as commonly provided to shareholders of that company, as of end of the most recent fiscal year
of that company, and for the two (2) years then ended, or such shorter period, as appropriate as reported by that company’s
Auditors.

 

1.4 Auditors. Independent certified
public accountants currently being retained by a respective company for the purpose of auditing financial statements of that company.

 

1.5 Business Day. Any day that is
not a Saturday, Sunday, or a day on which banks in Carson City, Nevada are authorized to close.

 

1.6 Closing. The completion of the
Transaction, to occur as contemplated by the provisions of Article II of this Agreement.

 

1.7 Closing Date. The date on which
the Closing actually occurs, which shall be ________, 2014, unless otherwise agreed by the parties to this Agreement, but shall
not in any event be prior to satisfaction or waiver of the conditions to Closing specified by the provisions of Article VII of
this Agreement.

 

1.8 Closing Time. The time at which
the Closing actually occurs. All events that are to occur at the Closing Time shall, for all purposes, be deemed to occur simultaneously,
except to the extent, if at all, that a specific order of occurrence is otherwise specified.

 

1.9 Code. The Internal Revenue Code
of 1986, as amended and in effect on the Effective Date.

 

1.10 Company. NOWNEWS DIGITAL MEDIA
TECHNOLOGY CO LTD., a Nevada corporation.

 

1.11 Company Balance Sheet. The
most recent balance sheet included in the Audited Financial Statements of the Company.

 

1.12 Company Disclosure Document. The
document delivered by the Company to Worldwide and the Worldwide Shareholders specifying certain disclosures in connection with
the Company regarding the Transaction.

 

1.13 Control. The power, directly
or indirectly, to control direct or influence the management, operation, policies, or affairs of a person.

 

1.14 Exchange Shares. Twenty million
(20,000,000) shares of the Company’s common stock, which shares shall be issued to the Worldwide Shareholders in exchange
for all of the Worldwide Shares.

 

1.15 Effective Date. The date which
is specified in the preamble of this Agreement.

 

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1.16 Exchange Act. The Securities
Exchange Act of 1934, as amended to the date as which any reference thereto is relevant pursuant to this Agreement, including any
substitute or replacement statute adopted in place or lieu thereof.

 

1.17 Facilities. All warehouses,
stores, plants, production facilities, manufacturing facilities, equipment, processing facilities, fixtures, and improvements owned
or leased by any party or otherwise used by such party in connection with the operation of its business or leased or subleased
by such party to other persons.

 

1.18 GAAP. Generally accepted accounting
principles of the United States, as in effect on the date of any statement, report or determination that purports to be, or is
required to be, prepared or made in accordance with GAAP. All references in this Agreement to financial statements prepared in
accordance with GAAP shall be defined and mean in accordance with GAAP consistently applied throughout the periods to which reference
is made.

 

1.19 Inventories. The stock of raw
materials, work-in-process and finished goods, including, but not limited to, finished goods purchased for resale, held for manufacturing,
assembly, processing, repairing, finishing, sale, or resale to others, from time to time in the ordinary course of the business
in the form in which such inventories then are held or after manufacturing, assembling, finishing, processing, incorporating with
other goods or items, refining, repairing, or similar processes.

 

1.20 IRS. The Internal Revenue Service.

 

1.21 Liabilities. At any point in
time ("Determination Time"), the obligations of a person, whether known or unknown, contingent or absolute, recorded
on such person’s books or not, arising or resulting in any way from facts, events, agreements, obligations or occurrences
that existed or transpired at a prior point in time, or resulted from the passage of time to the Determination Time, but not including
obligations accruing or payable after the Determination Time to the extent (but only to the extent) that such obligations (i) result
from previously existing agreements for services, benefits, or other considerations, and (ii) accrue or become payable with respect
to services, benefits, or other considerations received by the person after the Determination Time.

 

1.22 Payables. Liabilities of a
party resulting from the borrowing of money or the incurring of obligations for merchandise or goods purchased.

 

1.23 Proprietary Rights. Trade secrets,
copyrights, patents, trademarks, service marks, customer lists, and all similar types of intangible property developed, created
or owned by the person claiming ownership, proprietary or similar, or used by such person in connection with such person’s
business, whether or not the same are entitled to legal protection.

 

1.24 Receivables. Accounts receivable,
notes receivable, and other obligations appearing as assets on the books of the Company, Worldwide or the Worldwide Subsidiaries,
as the case may be, and customarily specified as assets in balance sheets prepared in accordance with GAAP.

 

    	4

    	 

    

 

1.26 SEC. The Securities and Exchange
Commission.

 

1.27 Securities Act. The Securities
Act of 1933, as amended to the date as of which any reference thereto is relevant pursuant to this Agreement, including any substitute
or replacement statute adopted in place or lieu thereof.

 

1.28 Sky Media. Sky Media Investments
Co., Ltd., an Anguilla corporation, which is wholly owned by Worldwide.

 

1.29 Super 8-K. The Current Report
on Form 8-K which will be prepared and filed by the Company with the SEC no later than 4 business days following the Closing Date
and which shall disclose the appropriate Form 10 information regarding the Company, Worldwide, the Worldwide Subsidiaries and Transaction.

 

1.30 Taiwan NOWnews. Nownews Network
Co., Ltd., a Taiwan corporation, of which 66% of the issued and outstanding shares of capital stock is owned by Sky Media.

 

1.31 Transaction. The exchange of
the Worldwide Shares for the Exchange Shares and the related transactions contemplated by the provisions of this Agreement.

 

1.32 Unaudited Financial Statements.
The balance sheet, income statement, statement of stockholders equity and statement of cash flows or equivalent statements
of a respective company, as commonly prepared, as at the end of the most recent fiscal quarter of that company, with comparable
statements for each similar period of the prior fiscal year.

 

1.33 Worldwide. Worldwide Media
Investments Corp., an Anguilla corporation.

 

1.34 Worldwide Balance Sheet. The
most recent balance sheet included in the Audited Financial Statements of Worldwide.

 

1.35 Worldwide Disclosure Document.
The document delivered by Worldwide to the Company specifying certain disclosures regarding Worldwide in connection with the
Transaction.

 

1.36 Worldwide Shareholders. Those
persons and entities specified on Pages 40 through 82, inclusive, of this Agreement.

 

1.37 Worldwide Shares. Those 20,000,000
shares of Worldwide that are currently issued and outstanding and held by the Worldwide Shareholders and which shall be exchanged
for the Exchange Shares.

 

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ARTICLE II

 

THE TRANSACTION

 

2.1 The Transaction. On the Closing
Date, and at the Closing Time, subject in all instances to each of the terms, conditions, provisions and limitations specified
in this Agreement, each Worldwide Share, by virtue of the Transaction, shall be exchangeable for one Exchange Share.

 

2.2 Issuance of Exchange Shares. Pursuant
to the Transaction, each Worldwide Shareholder shall be entitled to receive, from and after the Closing, in respect that number
of the Worldwide Shares issued and outstanding immediately prior to the Closing Date owned by such Worldwide Shareholder (and upon
surrender of the certificate(s) evidencing and representing those Worldwide Shares, duly endorsed and in all respects in proper
form for transfer), that same number of the Exchange Shares.

 

2.3 Effect of the Transaction. The
Transaction shall have the effect of causing Worldwide to become a wholly owned subsidiary of the Company; provided, however, the
separate existence of Worldwide shall continue, and all of the property, rights, privileges, and powers of Worldwide shall remain
vested in Worldwide, and all debts, liabilities, and obligations of Worldwide shall remain the debts, liabilities, and obligations
of Worldwide, subject to any and all setoffs and defenses of Worldwide.

 

2.4 Exchange Agent. Empire Stock
Transfer Inc., the transfer agent for the Company, shall be, and here is, designated by the parties hereto to act as the exchange
agent (the “Exchange Agent”) regarding the Transaction.

 

2.5 Exchange Procedure. Subject
to the conditions of this Agreement, certificates representing the Exchange Shares (the “Exchange Certificates”) shall
be issued to the Worldwide Shareholders upon the surrender by Worldwide Shareholders of the certificates representing all of the
outstanding Worldwide Shares (the “Worldwide Certificates”) as provided for herein or otherwise agreed by the parties
hereto. Promptly after the Closing Time, and in no event more than three (3) business days thereafter, the Company shall cause
the Exchange Agent to mail to each Worldwide Shareholder of record (as of the Closing Time) (i) a letter of transmittal in customary
form (which shall specify that delivery shall be effected, and risk of loss and title to the respective Worldwide Certificate(s)
shall pass, only upon delivery of the respective Worldwide Certificate(s) by such Worldwide Shareholder to the Exchange Agent and
shall contain such other customary provisions as the Company may reasonably specify), and (ii) instructions for use in effecting
the surrender of the respective Worldwide Certificate(s) in exchange for the respective Exchange Shares to which such Worldwide
Shareholder is entitled as a result of the Transaction. Upon surrender of the Worldwide Certificates for cancellation to the Exchange
Agent or to such other agent or agents as may be appointed by the Company, together with such letter of transmittal, duly completed
and validly executed in accordance with the instructions thereto, the Worldwide Shareholders shall be entitled to receive in exchange
therefor such Exchange Certificates representing the number of Exchange Shares, for which their Worldwide Shares are exchangeable
at the Closing Time, and the Worldwide Certificates so surrendered shall forthwith be canceled. Until so surrendered, outstanding
Worldwide Certificates will be deemed, from and after the Effective Time, to evidence only the right to receive the applicable
Exchange Shares issuable pursuant to Section 2.2.

 

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2.6 Names and addresses of Worldwide
Shareholders. No later than the Closing Time, Worldwide shall provide to the Exchange Agent the name and address of each Worldwide
Shareholder.

 

2.7 Exchange Certificates re: Different
Name. If Exchange Certificates are to be issued in a name other than that in which the Worldwide Certificates surrendered in
exchange therefor are registered, it will be a condition of the issuance thereof that the Worldwide Certificates so surrendered
will be properly endorsed and otherwise in proper form for transfer and the persons requesting such exchange will have paid to
the Company or any agent designated by it any transfer or other taxes required because of the issuance of Exchange Certificates
in any name other than that of the registered holder of the Worldwide Certificates surrendered, or establish to the satisfaction
of the Company or any agent designated by it that such tax has been paid or is not payable.

 

2.8 Termination of Exchange Agent Obligations.
Exchange Certificates held by the Exchange Agent that have not been delivered to Worldwide Shareholders six (6) months or later
after the Closing Time shall promptly be delivered to the Company, and thereafter holders of Worldwide Certificates who have not
theretofore complied with the exchange procedures specified in and contemplated by Section 2.5 shall thereafter look only to the
Company (subject to abandoned property, escheat and similar laws) for their claims for Exchange Shares.

 

2.9 No Liability re: Abandoned Property
and Similar Laws. Notwithstanding anything to the contrary in this Agreement, neither the Exchange Agent, the Company, Worldwide,
nor any other party hereto shall be liable to any holder of Worldwide Shares for any amount properly paid to a public official
pursuant to any applicable abandoned property, escheat or similar laws.

 

2.10 No Further Ownership Rights in
Worldwide Shares. All Exchange Shares deemed issued to Worldwide Shareholders upon consummation of the Transaction shall be
deemed to have been issued in full satisfaction of all rights pertaining to the Transaction. If, after the Closing Time, Worldwide
Certificates are presented to the Company for any reason, they shall be canceled and exchanged as provided in this article.

 

2.11 Closing. The Closing of the
Transaction shall take place by the exchange of documents and signatures at 10:00 a.m. Pacific Time on the day the conditions to
closing specified in Article VII of this Agreement have been satisfied or waived, or at such other time and date as the parties
shall agree in writing, which other date shall then be the Closing Date.

 

2.12 Rights and Obligations of Worldwide
Shareholders re: Transaction. By executing this Agreement, each of the Worldwide Shareholders agrees to be obligated by the
provisions of this Agreement and by any amendment, modification, or change in or to this Agreement or any of its provisions that
is accepted by Worldwide Shareholders holding a majority of all of the issued and outstanding Worldwide Shares in the aggregate;
provided, however, that no such amendment, modification, or change shall treat any Worldwide Shareholder who does not consent thereto
more favorably than such amendment, modification, or change that treats any Worldwide Shareholder who does consent thereto.

 

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ARTICLE III

 

REPRESENTATIONS AND WARRANTIES OF THE
COMPANY

 

The Company hereby represents and warrants
to Worldwide and the Worldwide Shareholders the following:

 

3.1 Organization And Qualification.
The Company is a corporation duly organized, validly existing, and in good standing pursuant to the laws of its jurisdiction
of incorporation and has the requisite corporate power and authority to conduct its business as that business is now conducted.
The Company is, or will prior to the Closing be, duly qualified as a foreign corporation to do business, and in good standing,
in each jurisdiction where the character of the properties owned or leased by it, or the nature of its activities, is such that
qualification as a foreign corporation in that jurisdiction is required by law.

 

3.2 Capitalization. The authorized
capital stock of the Company consists of 500,000,000 shares of common stock, $.001 par value. There is no other capital stock of
the Company authorized for issuance. As of the Effective Date, 2,412,000 shares of the Company’s common stock were validly
issued and outstanding, fully paid, and nonassessable. As of the Effective Date, no shares of its common stock were held in the
Company’s treasury; and no shares of that common stock are reserved for issuance, nor are there outstanding any options,
warrants, convertible instruments or other rights, agreements or commitments to acquire common stock of the Company.

 

3.3 Authority Relative to This Agreement.
The Company has the requisite corporate power and authority to enter into this Agreement and to perform its obligations created
by this Agreement. The execution and delivery of this Agreement and the consummation of the Transaction have been duly authorized
and approved by the requisite corporate authority of the Company, and no other corporate proceedings on the part of the Company
are necessary to approve and adopt this Agreement or to approve the consummation of the Transaction. This Agreement has been duly
and validly executed and delivered by the Company and constitutes a valid and binding obligation of the Company, enforceable in
accordance with its terms, except as such enforcement may be limited by general equitable principles, or by bankruptcy, insolvency
and other similar laws affecting the enforcement of creditor’s rights generally.

 

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3.4 Absence of Breach; No Consents.
The execution, delivery, and performance of this Agreement, and the performance by the Company of its obligations created by
this Agreement, do not (i) conflict with or result in a breach of any of the provisions of the Articles of Incorporation (or similar
charter document) or Bylaws (or similar governing document) of the Company; (ii) contravene any law, ordinance, rule, or regulation
of any state or political subdivision of either the United States (except for compliance with regulatory or licensing laws all
of which, to the extent applicable to the Company (and to the extent within the control of the Company), will be satisfied in all
material respects prior to the Closing), or of any applicable foreign jurisdiction, or contravene any order, writ, judgment, injunction,
decree, determination, or award of any court or other authority having jurisdiction, or cause the suspension or revocation of any
authorization, consent, approval, or license, presently in effect, which affects or obligates the Company or any of its material
properties, except in any event when such contravention will not have a material adverse effect on the business, condition (financial
or otherwise), operations or prospects of the Company, and will not have a material adverse effect on the validity of this Agreement
or on the validity of the consummation the Transaction; (iii) conflict with or result in a material breach of or default pursuant
to any material agreement or instrument to which the Company is a party or by which the Company may be affected or obligated; (iv)
require the authorization, consent, approval, or license of any third party; or (v) constitute any reason for the loss or suspension
of any permits, licenses, or other authorizations used in the business of the Company.

 

3.5 Brokers. No broker, finder,
or investment banker is entitled to any brokerage, finder's, or other fee or commission in connection with this Agreement or the
Transaction or any related transaction based upon any agreements, written or oral, made by or on behalf of the Company.

 

3.6 Financial Statements. The Company
has heretofore delivered to Worldwide and the Worldwide Shareholders the following:

 

1. The Company’s Audited Financial
Statements;

2. The Company’s Unaudited Financial
Statements; and

3. The Company Disclosure Document.

 

All of the historical financial statements
contained in such documents were prepared from the books and records of the Company. The Company’s Audited Financial Statements
were prepared in accordance with GAAP, and fairly and accurately present the financial situation and condition of the Company as
at the dates and for the periods indicated. Without limiting the foregoing, at the date of the Company Balance Sheet, the Company
owned each of the assets included in preparation of the Company Balance Sheet, and the valuation of such assets in the Company
Balance Sheet is not more than their fair saleable value (on an item-by-item basis) at that date. The Company’s Unaudited
Financial Statements were prepared in a manner consistent with the basis of presentation used in the Company’s Audited Financial
Statements, and fairly present the financial situation and condition of the Company as at and for the periods indicated, subject
to normal year-end adjustments, none of which will be material. From the Effective Date through the Closing Date the Company will
continue to prepare financial statements on the same basis that it has done so in the past, the Company will promptly deliver those
financial statements to Worldwide and the Worldwide Shareholders, and the foregoing representations and warranties will be applicable
to each financial statement so prepared and delivered.

 

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3.7 No Undisclosed Liabilities. The
Company has no Liabilities which are not adequately presented or reserved against on the Company Balance Sheet, except Liabilities
incurred since the date of the Company Balance Sheet in the ordinary course of business and consistent with past practice.

 

3.8 No Material Adverse Change, Etc.
Since the date of the Company Balance Sheet, other than as contemplated or caused by this Agreement, there has not been (i)
any material adverse change in the business, condition (financial or otherwise), operations, or prospects of the Company; (ii)
any damage, destruction, or loss, whether covered by insurance or not, having a material adverse effect on the business, condition
(financial or otherwise), operations or prospects of the Company; (iii) any entry into or termination of any material commitment,
contract, agreement, or transaction (including, without limitation, any material borrowing or capital expenditure or sale or other
disposition of any material asset or assets) by or involving the Company, other than this Agreement and agreements executed in
the ordinary course of business; (iv) any redemption, repurchase, or other acquisition for value of its capital stock by the Company,
or any dividend or distribution declared, set aside, or paid on capital stock of the Company; (v) any transfer of any right granted
pursuant to any material lease, license, agreement, patent, trademark, trade name, or copyright of the Company; (vi) any sale or
other disposition of any asset of the Company, or any mortgage, pledge, or imposition of any lien or other encumbrance on any asset
of the Company, other than in the ordinary course of business, or any agreement relating to any of the foregoing; of (vii) any
default or breach by the Company in any material respect pursuant to any contract, license or permit. Since the date of the Company
Balance Sheet, the Company has conducted its business only in the ordinary and usual course, and, without limiting the foregoing,
no changes have been made in (i) executive compensation amounts; (ii) the manner in which employees of the Company are compensated;
(iii) supplemental benefits provided to any employees; or (iv) inventory amounts in relation to sales amounts, except, in any such
event, in the ordinary course of business and, in any event, without material adverse effect on the business, condition (financial
or otherwise), operations, or prospects of the Company.

 

3.9 Taxes. The Company has properly
filed or caused to be filed all federal, state, local, and foreign income and other tax returns, reports, and declarations that
are required by applicable law to be filed by it and has paid, or made full and adequate provision for the payment of, all federal,
state, local, and foreign income and other taxes properly due for the periods contemplated by such returns, reports, and declarations.

 

3.10 Litigation. No investigation
or review by any governmental entity with respect to the Company is pending or threatened (other than inspections and reviews customarily
made of businesses such as those similar to that the Company), nor has any governmental entity indicated to the Company an intention
to conduct any such investigation or review. There is no action, litigation or proceeding pending or threatened against or affecting
the Company, at law or in equity, or before any federal, state, municipal, or other governmental department, commission, board,
bureau, agency, or instrumentality.

 

    	10

    	 

    

 

3.11 Employees, Etc. There are no
collective bargaining, bonus, profit sharing, compensation, or other plans, agreements, trusts, funds, or arrangements maintained
by the Company for the benefit of directors, officers or employees of, and there are no employment, consulting, severance, or indemnification
arrangements, agreements, or understandings between, the Company, on the one hand, and any current or former directors, officers
or other employees (or Affiliates thereof) of the Company, on the other hand. The Company is not, and following the Closing will
not be, obligated by any express or implied contract or agreement to employ, directly or as consultant or otherwise, any person
for any specific period of time or until any specific age.

 

3.12 Compliance With Laws. The Company
is in compliance with all, and has received no notice of any violation of any, laws or regulations applicable to its operations,
including, without limitation, the laws and regulations relevant to the use or utilization of premises, or with respect to which
compliance is a condition of engaging in any aspect of the business of the Company, and the Company has all permits, licenses,
rights, and other governmental authorizations necessary to conduct its business as presently conducted.

 

3.13 Ownership of Assets. The Company
has good and marketable title to, or valid, effective, and continuing leasehold rights in the event of leased property, in all
assets owned or leased by it or used by it in the conduct of its business, in such a manner as to create the appearance or reasonable
expectation that such assets are owned or leased by it, free and clear of all liens, claims, encumbrances, and charges, except
liens for taxes not yet due and minor imperfections of title and encumbrances, if any, which singularly and in the aggregate are
not substantial in amount and do not materially detract from the value of the asset subject thereto or materially impair the use
thereof. The Company does not know of any potential action by any person, and no proceedings with respect thereto have been instituted
of which the Company has notice, that would materially affect the Company’s ability to use and to utilize each of the Company’s
assets in its business.

 

3.14 Proprietary Rights. The Company
possesses full and complete ownership of, or adequate and enforceable long-term licenses or other rights to use (without payment),
all of its Proprietary Rights; the Company has not received any notice of conflict which asserts the rights of any other person
with respect thereto; and the Company has in all material respects performed all of the obligations required to be performed by
it and is not in default in any material respect, pursuant to any agreement relating to any such Proprietary Right.

 

3.15Subsidiaries,
Etc. The Company has no subsidiaries.

 

3.16 Trade Names. The Company Disclosure
Document identifies each trade name, fictitious business name, or other similar name pursuant to which the Company has conducted
any part of the Company’s business or pursuant to which the Company has utilized any of the Company’s assets during
the 10 years immediately preceding the Effective Date.

 

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3.17 Facilities. The Company’s
Facilities are (as to physical plant and structure) structurally sound and none of the Company’s Facilities, nor any of the
assets used by the Company in connection with its business, has any material defects and all of them are in all material respects
in good operating condition and repair and are adequate for the uses to which they are utilized; none of the Company’s Facilities
or assets is in need of maintenance or repairs, except for ordinary, routine maintenance and repairs which are not material in
nature or cost. The Company is not in breach, violation or default of any agreement or lease affecting the Company’s assets
with respect to, or as a result of, which the other party (whether lessor, lessee, sublessor, or sublessee) thereto has the right
to terminate the same, and the Company has not received notice of any claim or assertion that it is or may be in any such breach,
violation or default.

 

3.18 Accounts Receivable. All accounts
receivable of the Company, whether or not specified in the Company Balance Sheet, represent transactions in the ordinary course
of business, and are current and collectible net of any reserves specified on the Company’s Balance Sheet (which reserves
are adequate and were calculated consistent with past practice).

 

3.19 Inventories. The Company has
no Inventories.

 

3.20 Contracts. The Company Disclosure
Document specifies all contracts, agreements, or understandings, whether express or implied, written or verbal, to which the Company
is a party. The Company Disclosure Document, also, specifies a brief summary of each such contract, agreement or understanding
identified therein.

 

3.21 Accounts Payable. The accounts
payable specified on the Company Balance Sheet do, and those specified in the most recent balance sheet included in the Company’s
Unaudited Financial Statements do, and those specified on the books of the Company at the time of the Closing will, specify all
amounts owed by the Company in respect of trade accounts due and other Payables, and the actual Liabilities of the Company in respect
of such obligations were not, and will not be, on any of such dates, in excess of the amounts so specified on the balance sheets
or the books and records of the Company.

 

3.22 Labor Matters. There are no
activities or controversies, including, without limitation, any labor organizing activities, election petitions or proceedings,
proceedings preparatory thereto, unfair labor practice complaints, labor strikes, disputes, slowdowns, or work stoppages, pending
or, to the best of the knowledge of the Company, threatened, among the Company and any of its employees.

 

3.23 Insurance. The Company has
insurance policies in full force and effect insuring the assets of the Company and such insurance policies provide for coverages
which are usual and customary in the business of the Company as to amount and scope, and are adequate to protect the assets of
the Company against any reasonably foreseeable risk of loss.

 

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3.24 Full Disclosure. The documents,
certificates, and other writings furnished or to be furnished by or on behalf of the Company to the Worldwide and the Worldwide
Shareholders pursuant to this Agreement, including, but not limited to, the Company Disclosure Document, taken together in the
aggregate, do not and will not contain any untrue statement of a material fact, or omit to specify any material fact necessary
to make the statements made, considering the circumstances pursuant to which they are made, not misleading.

 

3.25 SEC Filings. The Company has
filed with and furnished to and will continue to file with and furnish to the SEC all forms, documents and reports (including exhibits)
required to be filed or furnished prior to the Closing by the Company with the SEC (the “SEC Reports”). As of their
respective dates, or, if amended prior to the Closing, as of the date of the last such amendment, the SEC Reports comply and will
comply in all material respects with the requirements of the Securities Act, the Exchange Act, and the Sarbanes/Oxley Act of 2002
(the “Sarbanes/Oxley Act”), as the case may be, and the applicable rules and regulations promulgated pursuant thereto,
and none of the SEC Reports specify or will specify any untrue statement of a material fact or omit to specify or incorporate by
reference any material fact required to be specified or incorporated by reference therein or necessary to make the information
specified therein, considering the circumstances pursuant to which that information is disclosed, not misleading. The Company will
make available to Worldwide and the Worldwide Shareholders correct and complete copies of all material correspondence among the
SEC, on the one hand, and the Company, on the other hand, occurring and prior to the Closing. As of the Effective Date, there are
no outstanding or unresolved comments in comment letters from the SEC staff with respect to any of the SEC Reports. As of the Effective
Date, to the knowledge of the Company, none of the SEC Reports is the subject of ongoing SEC review, outstanding SEC comment or
SEC investigation. The financial statements of the Company included in the SEC Reports comply as to form in all material respects
with applicable accounting requirements and the published rules and regulations of the SEC with respect thereto as in effect at
the time of filing, have been prepared in accordance with GAAP (except in the case of unaudited statements, as permitted by the
rules and regulations of the SEC) applied on a consistent basis during the periods involved (except as may be indicated in the
notes thereto), and fairly present the financial situation and condition of the Company as of the dates thereof and its results
of operations and cash flows for the periods shown (subject, in the case of unaudited statements, to normal year-end audit adjustments).
There is no event, fact, or circumstance that would cause any certifications signed by any officer of the Company in connection
with any SEC report pursuant to the Sarbanes/Oxley Act to be untrue, inaccurate, or incorrect in any manner whatsoever.

 

3.26Internal Accounting Controls.
The Company maintains a system of internal accounting controls sufficient to provide reasonable assurance that (i) transactions
are executed in accordance with management’s general or specific authorizations, (ii) transactions are recorded as necessary
to permit preparation of financial statements in conformity with GAAP and to maintain asset accountability, (iii) access to assets
is permitted only in accordance with management’s general or specific authorization, and (iv) the recorded accountability
for assets is compared with the existing assets at reasonable intervals and appropriate action is taken with respect to any differences.

 

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3.27  Evaluation of Risks.
The Company has such knowledge and experience in business and financial matters that the Company is capable of evaluating Worldwide
and the proposed activities thereof, the risks and merits of the Transaction and of making an informed decision relating thereto;
and the Company is not utilizing any other person regarding the evaluation of those risks and merits.

 

3.28 Questionable Payments. Neither
the Company, nor any director, officer, agent, employee, or other person associated with or acting on behalf of the Company has,
directly or indirectly, used any corporate funds for unlawful contributions, gifts, entertainment, or other unlawful expenses relating
to political activity; made any unlawful payment to foreign and domestic political parties or campaigns, from corporate funds;
violated any provision of the Foreign Corrupt Practices Act of 1977, as amended (“FCPA”); established or maintained
any unlawful or unrecorded fund of corporate monies or other assets; made any false or fictitious entry on the books or records
of the Company; made any bribe, rebate, payoff, influence payment, kickback, or other unlawful payment; given any favor or gift
which is not deductible for federal income tax purposes; or made any bribe, or kickback, or other payment of a similar or comparable
nature, whether lawful or not, to any person or entity, private, or public, regardless of form, whether in money, property, or
services, to obtain favorable services, to obtain favorable treatment in securing business or to obtain special concessions, or
to pay for favorable treatment for business secured or for special concessions already obtained. The Company’s internal accounting
controls and procedures are sufficient to cause it to comply with FCPA.

 

3.29 Money Laundering Laws. The
operations of the Company are and have been conducted at all times in compliance in all material respects with applicable financial
recordkeeping and reporting requirements, including those of the Bank Secrecy Act, as amended by Title III of the Uniting and Strengthening
America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001; the Currency and Foreign Transactions
Reporting Act of 1970, as amended; and the applicable money laundering statutes of all governmental agencies having jurisdiction
of the Company, the rules and regulations thereunder and any related or similar rules, regulations or guidelines, issued, administered
or enforced by any governmental agency with jurisdiction of the Company (collectively, the “Money Laundering Laws”),
and no action, suit or proceeding by or before any governmental agency or arbitrator involving the Company with respect to the
Money Laundering Laws is pending, or to the knowledge of the Company, threatened against the Company.

 

3.30 OFAC. Neither the Company nor,
to the knowledge of the Company, any director, officer, agent, employee or affiliate of the Company, is, currently, subject to
any U.S. sanctions administered by the Office of Foreign Assets Control of the U.S. Treasury Department (“OFAC”).

 

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ARTICLE IV

 

REPRESENTATIONS AND WARRANTIES

OF WORLDWIDE

 

Worldwide, for itself and for and on behalf
of the Worldwide Subsidiaries, represents and warrants to the Company as follows:

 

4.1 Organization and Qualification.
Worldwide and the Worldwide Subsidiaries are corporations duly organized, validly existing, and in good standing pursuant to
the laws of their jurisdictions of incorporation and have the requisite corporate power and authority to conduct their businesses
as those businesses are now being conducted. Worldwide and the Worldwide Subsidiaries are, or will prior to the Closing be, duly
qualified as foreign corporations to do business, and in good standing, in each jurisdiction where the character of the properties
owned or leased by them, or the nature of their activities, is such that qualification as foreign corporations in those jurisdictions
is required by law.

 

4.2 Capitalization.

 

4.2.1 The authorized capital stock
of Worldwide consists of 20,000,000 shares. There is no other capital stock authorized for issuance by Worldwide. As of the Effective
Date, 20,000,000 shares of Worldwide’s capital stock were validly issued and outstanding, fully paid, and nonassessable.
No shares of Worldwide’s capital stock are held in treasury, and no shares are reserved for issuance, nor are there outstanding
any options, warrants, convertible instruments or other rights, agreements or commitments to acquire capital stock of Worldwide.

 

4.2.2 The authorized capital stock
of Sky Media, a Worldwide Subsidiary, consists of 20,000,000 shares. There is no other capital stock authorized for issuance by
Sky Media. As of the Effective Date, 20,000,000 shares of Sky Media’s capital stock were validly issued and outstanding,
fully paid, and non accessible. No shares of Sky Media’s capital stock are held in Sky Media’s treasury, and no shares
are reserved for issuance by Sky Media, nor are there outstanding any options, warrants, convertible instruments or other rights,
agreements or commitments to acquire capital stock of Sky Media.

 

4.2.3 The authorized capital stock
of Taiwan NOWnews, a Worldwide Subsidiary, consists of 20,000,000 shares. There is no other capital stock authorized for issuance
by Taiwan NOWnews. As of the Effective Date, 12,070,000 shares of Taiwan NOWnews’ capital stock were validly issued and outstanding,
fully paid, and non accessible. No shares of Taiwan NOWnews’ capital stock are held in Taiwan NOWnews’ treasury, and
no shares are reserved for issuance by Taiwan NOWnews, nor are there outstanding any options, warrants, convertible instruments
or other rights, agreements or commitments to acquire capital stock of Taiwan NOWnews.

 

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4.3 Authority Relative to This Agreement.
Worldwide has the requisite corporate power and authority to enter into this Agreement and to perform its obligations created
by this Agreement. Except as specified on Worldwide Disclosure Document, the execution and delivery of this Agreement and the consummation
of the Transaction have been duly authorized and approved by the requisite corporate authority of Worldwide, and no other corporate
proceedings on the part of Worldwide are necessary to approve and adopt this Agreement or to approve the consummation of the Transaction.
Except as specified on the Worldwide Disclosure Document, this Agreement has been duly and validly executed and delivered by Worldwide
and constitutes a valid and binding obligation of Worldwide, enforceable in accordance with its terms, except as such enforcement
may be limited by general equitable principles, or by bankruptcy, insolvency and other similar laws affecting the enforcement of
creditor’s rights generally.

 

4.4 Absence of Breach; No Consents.
The execution, delivery, and performance of this Agreement, and the performance by Worldwide of its obligations created by
this Agreement, do not (i) conflict with or result in a breach of any of the provisions of the Articles of Incorporation (or similar
charter document) or Bylaws (or similar governing documents) of Worldwide; (ii) contravene any law, ordinance, rule, or regulation
of any state or political subdivision of either the United States (except for regulatory or licensing laws all of which, to the
extent applicable to Worldwide (and to the extent within the control of Worldwide), will be satisfied in all material respects
prior to the Closing), or of any applicable foreign jurisdiction, or contravene any order, writ, judgment, injunction, decree,
determination, or award of any court or other authority having jurisdiction, or cause the suspension or revocation of any authorization,
consent, approval, or license, presently in effect, which affects or obligates, Worldwide or any of its material properties, except
in any event when such contravention will not have a material adverse effect on the business, condition (financial or otherwise),
operations or prospects of Worldwide, and will not have a material adverse effect on the validity of this Agreement or on the validity
of the consummation the Transaction; (iii) conflict with or result in a material breach of or default pursuant to any material
agreement or instrument to which Worldwide is a party or by which it may be affected or obligated; (iv) require the authorization,
consent, approval, or license of any third party; or (v) constitute any reason for the loss or suspension of any permits, licenses,
or other authorizations used in the business of Worldwide.

 

4.5 Brokers. No broker, finder,
or investment banker is entitled to any brokerage, finder's, or other fee or commission in connection with this Agreement or the
Transaction or any related transaction based upon any agreements, written or oral, made by or on behalf of Worldwide.

 

4.6 Financial Statements. Worldwide
has heretofore delivered to the Company the following:

 

1. The Worldwide Audited Financial
Statements;

2. The Worldwide Unaudited Financial
Statements;

3. The Worldwide Disclosure
Document;

4. The Audited Financial Statements
of each of the Worldwide Subsidiaries; and

5. The Unaudited Financial Statements
of each of the Worldwide Subsidiaries.

 

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All of the historical financial statements
contained in such documents were prepared from the books and records of Worldwide and the Worldwide subsidiaries, as the case may
be. The Worldwide Audited Financial Statements and the Audited Financial Statements of the Worldwide Subsidiaries were prepared
in accordance with GAAP, and fairly and accurately present the financial situations and conditions of Worldwide and the Worldwide
Subsidiaries as at the dates and for the periods indicated. Without limiting the foregoing, at the date of the Worldwide Balance
Sheet, Worldwide owned each of the assets included in preparation of the Worldwide Balance Sheet, and the valuation of such assets
in the Worldwide Balance Sheet is not more than their fair saleable value (on an item-by-item basis) at that date. Additionally,
as of the date of the balance sheet of each of the Worldwide Subsidiaries, that subsidiary owned each of the assets included in
the preparation of that balance sheet, and the valuation of those assets in that balance sheet is not more than their salable value
(by an item by item basis) at that date. The Worldwide Unaudited Financial Statements were prepared in a manner consistent with
the basis of presentation used in the Worldwide Audited Financial Statements, and fairly present the financial situation and condition
of Worldwide as at and for the periods indicated, subject to normal year-end adjustments, none of which will be material. The Unaudited
Financial Statements of each of the Worldwide Subsidiaries, were prepared in a manner consistent with basis of presentation used
in the Audited Financial Statements of that Worldwide Subsidiary, and fairly present the financial situation and condition of that
Worldwide Subsidiary as at and for the periods indicated, subject to normal year end adjustments, none of which will be material.
From the Effective Date through the Closing Date, Worldwide will continue to prepare financial statements on the same basis that
it has done so in the past, and Worldwide will promptly deliver those financial statements to the Company, and the foregoing representations
and warranties will be applicable to each financial statement so prepared and delivered. From the Effective Date and through the
Closing Date, Worldwide will cause each of the Worldwide Subsidiaries, to continue to prepare financial statements on the same
basis that the Worldwide Subsidiaries have done so in the past, and Worldwide will promptly deliver those financial statements
to the Company, and the foregoing representations and warranties will be applicable to each financial statement so prepared and
delivered.

 

4.7 No Undisclosed Liabilities. Worldwide
and each of the Worldwide Subsidiaries, have no Liabilities which are not adequately presented or reserved against on the Worldwide
Balance Sheet, and the most recent balance sheet of that Worldwide Subsidiary, except Liabilities incurred since the date of the
Worldwide Balance Sheet and the most recent balance sheet of that Worldwide Subsidiary in the ordinary course of business and consistent
with past practice.

 

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4.8 No Material Adverse Change, Etc.
Since the dates of the Worldwide Balance Sheet and the most recent balance sheet of each of the Worldwide Subsidiaries, other
than as contemplated or caused by this Agreement, there has not been (i) any material adverse change in the business, condition
(financial or otherwise), operations, or prospects of Worldwide or that Worldwide Subsidiary; (ii) any damage, destruction, or
loss, whether covered by insurance or not, having a material adverse effect on the business, condition (financial or otherwise),
operations or prospects of Worldwide or that Worldwide Subsidiary; (iii) any entry into or termination of any material commitment,
contract, agreement, or transaction (including, without limitation, any material borrowing or capital expenditure or sale or other
disposition of any material asset or assets) by or involving Worldwide or that Worldwide Subsidiary, other than this Agreement
and agreements executed in the ordinary course of business; (iv) any redemption, repurchase, or other acquisition for value of
its capital stock by Worldwide or that Worldwide Subsidiary, or any dividend or distribution declared, set aside, or paid on capital
stock of Worldwide or that Worldwide Subsidiary; (v) any transfer of or right granted pursuant to any material lease, license,
agreement, patent, trademark, trade name, or copyright of Worldwide or that Worldwide Subsidiary ; (vi) any sale or other disposition
of any asset of Worldwide or that Worldwide Subsidiary, or any mortgage, pledge, or imposition of any lien or other encumbrance
on any asset of Worldwide or that Worldwide Subsidiary, other than in the ordinary course of business, or any agreement relating
to any of the foregoing; of (vii) any default or breach by Worldwide or that Worldwide Subsidiary in any material respect pursuant
to any contract, license or permit. Since the date of the Worldwide Balance Sheet and the most recent balance sheet of each of
the Worldwide Subsidiaries, Worldwide and that Worldwide Subsidiary have conducted their businesses only in the ordinary and usual
course, and, without limiting the foregoing, no changes have been made in (i) executive compensation amounts, (ii) the manner in
which employees of Worldwide or that Worldwide Subsidiary are compensated, (iii) supplemental benefits provided to any employees,
or (iv) inventory amounts in relation to sales amounts, except, in any event, in the ordinary course of business and, in any event,
without material adverse effect on the business, condition (financial or otherwise), operations, or prospects of Worldwide or that
Worldwide Subsidiary.

 

4.9 Taxes. Worldwide and each of
the Worldwide Subsidiaries have properly filed or caused to be filed all federal, state, local, and foreign income and other tax
returns, reports, and declarations that are required by applicable law to be filed by them, and have paid, or made full and adequate
provision for the payment of, all federal, state, local, and foreign income and other taxes properly due for the periods contemplated
by such returns, reports, and declarations, except such taxes, if any, as are adequately reserved against in the Worldwide Balance
Sheet and the most recent balance sheet of that Worldwide Subsidiary.

 

4.10 Litigation. Except as specified
on the Worldwide Disclosure Document, no material investigation or review by any governmental entity with respect to Worldwide
or any of the Worldwide Subsidiaries is pending or, to the best of the knowledge of Worldwide, threatened (other than inspections
and reviews customarily made of businesses such as that of Worldwide and each Worldwide Subsidiary), nor has any governmental entity
indicated to Worldwide or any of the Worldwide Subsidiaries an intention to conduct the same. There is no action, litigation or
proceeding pending or, to the best of the knowledge of Worldwide, threatened against or affecting Worldwide or any of the Worldwide
Subsidiaries, at law or in equity, or before any federal, state, municipal, or other governmental department, commission, board,
bureau, agency, or instrumentality.

 

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4.11 Employees, Etc. There are no
collective bargaining, bonus, profit sharing, compensation, or other plans, agreements, trust, funds, or arrangements maintained
by Worldwide or any of the Worldwide Subsidiaries for the benefit of their directors, officers, or employees, and there are no
employment, consulting, severance, or indemnification arrangements, agreements, or understandings between Worldwide or any of the
Worldwide Subsidiaries, on the one hand, and any current or former directors, officers, or other employees (or Affiliates thereof)
of Worldwide or any Worldwide Subsidiary, on the other hand. Except as specified on the Worldwide Disclosure Document, Worldwide
and each of the Worldwide Subsidiaries are not, and following the Closing will not be, obligated by any express or implied contract
or agreement to employ, directly or as a consultant or otherwise, any person for any specific period of time or until any specific
age.

 

4.12 Compliance With Laws. Worldwide
and each of the Worldwide Subsidiaries are in substantial compliance with all, and has received no notice of any violation of any,
laws or regulations applicable to their operations, including, without limitation, the use of premises occupied by them, or with
respect to which compliance is a condition of engaging in any aspect of the businesses of Worldwide and Worldwide Subsidiary; and
Worldwide and each of the Worldwide Subsidiaries have all permits, licenses, rights, and other governmental authorizations necessary
to conduct their businesses as presently conducted.

 

4.13 Ownership of Assets. Except
as specified on the Worldwide Disclosure Document, Worldwide and each of the Worldwide Subsidiaries have good and marketable
title to, or valid, effective, and continuing leasehold rights in the case of leased property, in all assets owned or leased by
them or used by them in the conduct of their businesses in such a manner as to create the appearance or reasonable expectation
that such assets are owned or leased by them, free and clear of all liens, claims, encumbrances, and charges, except liens for
taxes not yet due and minor imperfections of title and encumbrances, if any, which singularly and in the aggregate are not substantial
in amount and do not materially detract from the value of the assets subject thereto or materially impair the use thereof. Worldwide
and each of the Worldwide Subsidiaries do not know of any potential action by any person, and no proceedings with respect thereto
have been instituted of which Worldwide or any of the Worldwide Subsidiaries has notice, that would materially affect the ability
of Worldwide or any Worldwide Subsidiary to use and to utilize such assets in their businesses.

 

4.14 Proprietary Rights. Worldwide
and each of the Worldwide Subsidiaries possess full and complete ownership of, or adequate and enforceable long-term licenses or
other rights to use (without payment), all Proprietary Rights owned by or registered in the name of Worldwide or that Worldwide
Subsidiary or used in the business of Worldwide or that Worldwide Subsidiary; Worldwide and each of the Worldwide Subsidiaries
have not received any notice of conflict which asserts the rights of other persons with respect thereto; and Worldwide and each
of the Worldwide Subsidiaries have in all material respects performed all of the obligations required to be performed by them,
and is not in default in any material respect, pursuant to any agreement relating to any Proprietary Right.

 

4.15 Subsidiaries. Worldwide has
one wholly owned subsidiary, which is Sky Media. Sky Media holds a 66% ownership interest in Taiwan NOWnews.

 

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4.16 Trade Names. The Worldwide
Disclosure Document identifies each trade name, fictitious business name, or other similar name pursuant to which Worldwide and
each of the Worldwide Subsidiaries have conducted any part of Worldwide’s business or the business of such Worldwide Subsidiary
or in which Worldwide or that Worldwide Subsidiary has utilized any of the assets of Worldwide or that Worldwide Subsidiary during
the 10 years preceding the Effective Date.

 

4.17 Facilities. The Facilities
of Worldwide and each of the Worldwide Subsidiaries are (as to physical plant and structure) structurally sound, and none of those
Facilities, nor any of the assets used by Worldwide or that Worldwide Subsidiary in connection with its business has any material
defects and all of them are in all material respects in good operating condition and repair and are adequate for the uses to which
they are utilized; none of those Facilities, or is in need of maintenance or repairs, except for ordinary, routine maintenance
and repairs which are not material in nature or cost. Worldwide and each of the Worldwide Subsidiaries are not in breach, violation,
or default of any agreement or lease with respect to or as a result of which the other party (whether lessor, lessee, sublessor,
or sublessee) thereto has the right to terminate the same, and Worldwide or each such Worldwide Subsidiary has not received notice
of any claim or assertion that it is or may be in any such breach, violation, or default.

 

4.18 Accounts Receivable. All accounts
receivable of Worldwide and each of the Worldwide Subsidiaries, whether or not specified in the Worldwide Balance Sheet and the
most recent balance sheet of that Worldwide Subsidiary, represent transactions in the ordinary course of business, and are current
and collectible net of any reserves specified on the Worldwide Balance Sheet and the most recent balance sheet of that Worldwide
Subsidiary (which reserves are adequate and were calculated consistent with past practice).

 

4.19 Inventories. All Inventories
of Worldwide and each of the Worldwide Subsidiaries, whether or not specified in the Worldwide Balance Sheet and the most recent
balance sheet of that Worldwide Subsidiary, are of a quality and quantity usable and saleable in the ordinary course of business,
except for obsolete items and items of below-standard quality, all of which, in the aggregate, are immaterial in amount. Items
included in such Inventories are specified on the books of Worldwide and each Worldwide Subsidiary have, and are valued on the
Worldwide Balance Sheet and the most recent balance sheet of that Worldwide Subsidiary, at the lower of cost or market and, in
any event, at not greater than their net realizable value, on an item by item basis, after appropriate deduction for costs of completion,
marketing costs, transportation expense, and allocation of overhead.

 

4.20 Contracts. The Worldwide Disclosure
Document specifies all contracts, agreements, or understandings, whether express or implied, written or verbal, to which Worldwide
and each of the Worldwide Subsidiaries is a party. The Worldwide Disclosure Document also specifies a brief summary of each such
contract, agreement or understanding identified therein.

 

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4.21 Accounts Payable. The accounts
payable specified on the Worldwide Balance Sheet do, and those specified in the most recent balance sheet included in the Worldwide
Unaudited Financial Statements and the most recent balance sheet of each of the Worldwide Subsidiaries do, and those specified
on the books of Worldwide and that Worldwide Subsidiary at the time of the Closing will, specify all amounts owed by Worldwide
and that Worldwide Subsidiary in respect of trade accounts due and other Payables, and the actual Liabilities of Worldwide and
that Worldwide Subsidiary in respect of such obligations were not, and will not be, on any of such dates, in excess of the amounts
so specified on the balance sheets or the books and records of Worldwide and that Worldwide Subsidiary.

 

4.22 Labor Matters. There are no
activities or controversies, including, without limitation, any labor organizing activities, election petitions or proceedings,
proceedings preparatory thereto, unfair labor practice complaints, labor strikes, disputes, slowdowns, or work stoppages, pending
or, to the best of the knowledge of Worldwide, threatened, among Worldwide or any of the Worldwide Subsidiaries and any of their
employees.

 

4.23 Insurance. Worldwide and each
of the Worldwide Subsidiaries have insurance policies in full force and effect insuring their assets, and such insurance policies
provide for coverages which are usual and customary in the businesses of Worldwide and that Worldwide Subsidiary as to amount and
scope, and are adequate to protect the assets of Worldwide and that Worldwide Subsidiary against any reasonably foreseeable risk
of loss.

 

4.24 Full Disclosure. The documents,
certificates, and other writings furnished or to be furnished by or on behalf of Worldwide to the Company pursuant to this Agreement,
including, but not limited to, the Worldwide Disclosure Document, taken together in the aggregate, do not and will not contain
any untrue statement of a material fact, or omit to specify any material fact necessary to make the statements made, considering
the circumstances pursuant to which they are made, not misleading.

 

4.25 Internal Accounting Controls.
Worldwide and each of the Worldwide Subsidiaries maintain a system of internal accounting controls sufficient to provide reasonable
assurance that (i) transactions are executed in accordance with management’s general or specific authorizations, (ii) transactions
are recorded as necessary to permit preparation of financial statements in conformity with GAAP and to maintain asset accountability,
(iii) access to assets is permitted only in accordance with management’s general or specific authorization, and (iv) the
recorded accountability for assets is compared with the existing assets at reasonable intervals and appropriate action is taken
with respect to any differences.

 

4.26 Evaluation of Risks.
Worldwide has such knowledge and experience in business and financial matters that Worldwide is capable of evaluating the Company
and the activities thereof, the risks and merits of the Transaction and of making an informed decision relating thereto; and Worldwide
is not utilizing any other person regarding the evaluation of those risks and merits.

 

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4.27 Questionable Payments. Neither
Worldwide nor any of the Worldwide Subsidiaries, nor any director, officer, agent, employee, or other person associated with or
acting on behalf of Worldwide or any Worldwide Subsidiary has, directly or indirectly, used any corporate funds for unlawful contributions,
gifts, entertainment, or other unlawful expenses relating to political activity; made any unlawful payment to foreign and domestic
political parties or campaigns, from corporate funds; violated any provision of the FCPA; established or maintained any unlawful
or unrecorded fund of corporate monies or other assets; made any false or fictitious entry on the books or records of Worldwide
or any Worldwide Subsidiary; made any bribe, rebate, payoff, influence payment, kickback, or other unlawful payment; given any
favor or gift which is not deductible for federal income tax purposes; or made any bribe, or kickback, or other payment of a similar
or comparable nature, whether lawful or not, to any person or entity, private, or public, regardless of form, whether in money,
property, or services, to obtain favorable services, to obtain favorable treatment in securing business or to obtain special concessions,
or to pay for favorable treatment for business secured or for special concessions already obtained. The internal accounting controls
and procedures of Worldwide and each Worldwide Subsidiary are sufficient to cause Worldwide and such Worldwide Subsidiary, as the
case may be, to comply with FCPA.

 

4.28 Money Laundering Laws. The
operations of Worldwide and each Worldwide Subsidiary are, and have been conducted, at all times in compliance in all material
respects with applicable Money Laundering Laws, and no action, suit or proceeding by or before any governmental agency or arbitrator
involving Worldwide and each Worldwide Subsidiary with respect to the Money Laundering Laws is pending, or to the knowledge of
Worldwide and each Worldwide Subsidiary, threatened against Worldwide or that Worldwide Subsidiary.

 

4.29 OFAC. Neither Worldwide, any
Worldwide Subsidiary, nor, to the knowledge of Worldwide, any director, officer, agent, employee, or affiliate of Worldwide or
any Worldwide Subsidiary is, currently, subject to any U.S. sanctions administered by OFAC.

 

ARTICLES V

 

COVENANTS OF WORLDWIDE

 

Worldwide, for itself and for and on behalf
of each of the Worldwide Subsidiaries, hereby covenants with the Company the following:

 

5.1 Satisfaction of Conditions. From
the Effective Date through the Closing Date, Worldwide will take every action reasonably required of it to satisfy the conditions
to Closing set forth in this Agreement and otherwise to ensure the prompt and expedient consummation of the Transaction substantially
as contemplated by the provisions of this Agreement and exert all reasonable efforts to cause the Transaction to be consummated;
provided, however that in all instances the representations and warranties of the Company in this Agreement are and remain true
and accurate and the covenants and agreements of the Company in this Agreement are performed and the conditions to the obligations
of Worldwide set forth in this Agreement are not incapable of satisfaction and subject, at all times, to the right and ability
of the directors of Worldwide to satisfy their fiduciary obligations.

 

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5.2 Access and Information. Worldwide
shall provide to the Company and to the Company’s accountants, counsel and other representatives reasonable access during
normal business hours during the period prior to the Closing to all of the properties, books, contracts, commitments, records (including,
but not limited to, tax returns), and personnel of Worldwide and each of the Worldwide Subsidiaries, and, during such period, Worldwide
shall furnish promptly to the Company (i) all written communications to its directors or to its shareholders generally, (ii) internal
monthly financial statements when and as available, and (iii) all other information concerning its business, properties, and personnel
as the Company may request, but no investigation pursuant to this section shall affect any representations or warranties of Worldwide,
or the conditions to the obligations of the Company to consummate the Transaction. In the event of the termination of this Agreement,
Worldwide will, and will cause its representatives to, deliver to the Company or destroy all documents, work papers, and other
material, and all copies thereof, obtained by Worldwide or on its behalf from the Company as a result of this Agreement or in connection
with this Agreement, whether so obtained before or after the execution of this Agreement, and Worldwide will hold in confidence
all confidential information, that has been designated as such by the Company in writing or by appropriate and obvious notation,
and will not use any such confidential information, except in connection with the Transaction, until such time as such information
is otherwise publicly available. Worldwide and its representatives shall assert their rights pursuant to this Agreement in such
manner as to minimize interference with the business of the Company.

 

5.3 Cooperation. Worldwide shall
cooperate with the Company and its counsel, accountants and agents in every way in consummating the Transaction and in delivering
all documents and instruments deemed reasonably necessary or useful by counsel to the Company.

 

5.4 No Solicitation. Worldwide and
each Worldwide Subsidiary will not, and Worldwide and each Worldwide Subsidiary will use its best efforts to cause its officers,
employees, agents, and representatives to not, directly or indirectly, solicit, encourage, or initiate any discussions with, or
negotiate or otherwise deal with, or provide any information to, any person other than the Company and its officers, employees,
and agents, concerning any reorganization, sale of substantial assets, or similar transaction involving Worldwide or any of the
Worldwide Subsidiaries or any sale of any of their capital stock. Worldwide will notify the Company immediately upon receipt of
any inquiry, offer or proposal relating to any of the foregoing. None of the foregoing shall prohibit providing information to
other persons in a manner in keeping with the ordinary conduct of Worldwide’s business, or providing information to government
authorities.

 

    	23

    	 

    

 

5.5 Conduct of Business Pending the
Closing of the Transaction. Prior to the consummation of the Transaction or the termination of this Agreement pursuant to its
terms, unless the Company shall otherwise consent in writing, and except as otherwise contemplated by this Agreement, Worldwide
will comply with each of the following:

 

(1) The business of Worldwide and each
of the Worldwide Subsidiaries shall be conducted only in the ordinary and usual course, Worldwide and each of the Worldwide Subsidiaries
shall use reasonable efforts to keep intact their business organizations and goodwill, keep available the services of their officers
and employees and maintain good relationships with suppliers, lenders, creditors, distributors, employees, customers, and other
persons having business or financial relationships with Worldwide and the Worldwide Subsidiaries, and Worldwide shall immediately
notify the Company of any event or occurrence or emergency material to, and not in the ordinary and usual course of business of,
Worldwide or any of the Worldwide Subsidiaries.

 

(2) Worldwide and each of the Worldwide
Subsidiaries shall not (a) amend their respective Articles of Incorporation (or similar charter document) or Bylaws (or similar
governing document), or (b) split, combine, or reclassify any of its outstanding securities or declare, set aside, or pay any dividend
or other distribution on or make or agree or commit to make any exchange for or redemption of any such securities payable in cash,
stock, or property.

 

(3) Worldwide and each of the Worldwide
Subsidiaries shall not (a) issue or agree to issue any additional shares of, or rights of any kind to acquire any shares of, its
capital stock of any class, or (b) enter into any contract, agreement, commitment, or arrangement with respect to any of the foregoing.

 

(4) Worldwide and each of the Worldwide
Subsidiaries shall not create, incur, or assume any long-term or short-term indebtedness for money borrowed or make any capital
expenditures or commitment for capital expenditures, except in the ordinary course of business and consistent with past practice.

 

(5) Worldwide and each of the Worldwide
Subsidiaries shall not (a) adopt, enter into, or amend any bonus, profit-sharing, compensation, stock option, warrant, pension,
retirement, deferred compensation, employment, severance, termination, or other employee benefit plan, agreement, trust fund, or
arrangement for the benefit or welfare of any officer, director or employee; or (b) agree to any material (in relation to historical
compensation) increase in the compensation payable or to become payable to, or any increase in the contractual term of employment
of, any officer, director, or employee, except, with respect to employees who are not officers or directors, in the ordinary course
of business in accordance with past practice.

 

(6) Worldwide and each of the Worldwide
Subsidiaries shall not sell, lease, mortgage, encumber, or otherwise dispose of or grant any interest in any of Worldwide or any
Worldwide Subsidiary’s assets or properties, except for sales, encumbrances, and other dispositions or grants in the ordinary
course of business and consistent with past practice and except for liens for taxes not yet due or liens or encumbrances that are
not material in amount or effect and do not impair the use of Worldwide’s or any Worldwide Subsidiary’s property, or
as specifically provided for or permitted in this Agreement.

 

    	24

    	 

    

 

(7) Worldwide and each of the Worldwide
Subsidiaries shall not enter into, or terminate, any material contract, agreement, commitment, or understanding.

 

(8) Worldwide and each of the Worldwide
Subsidiaries shall not enter into any agreement, commitment, or understanding, whether in writing or otherwise, with respect to
any of the matters referred to in Paragraphs (1) through (7), inclusive, of this section.

 

(9) Worldwide and each of the Worldwide
Subsidiaries will continue to file properly and promptly when due all federal, state, local, foreign and other tax returns, reports,
and declarations required to be filed by Worldwide or such Worldwide Subsidiary and pay, or make full and adequate provision for
the payment of, all taxes and governmental charges due from or payable by Worldwide or such Worldwide Subsidiary.

 

(10) Worldwide and each of the Worldwide
Subsidiaries will comply with all laws and regulations applicable to Worldwide and each of the Worldwide Subsidiaries and Worldwide’s
and each Worldwide Subsidiary’s operations.

 

(11) Worldwide and each of the Worldwide
Subsidiaries will maintain in full force and effect insurance coverage of a type and amount customary in its business, but not
less than that presently in effect.

 

5.6 Expenses. Whether or not the
Transaction is consummated, all costs and expenses incurred by Worldwide in connection with this Agreement and the Transaction
shall be paid by Worldwide.

 

5.7 Publicity. Prior to the Closing
any written news releases by Worldwide pertaining to this Agreement or the Transaction shall be submitted to the Company for review
and approval prior to release by Worldwide, and shall be released only in a form approved by the Company; provided, however, that
such review and approval shall not be required of releases by Worldwide, if prior review and approval would prevent the timely
and accurate dissemination of such press release as required to comply, in the judgment of counsel, with any applicable law, rule
or policy.

 

5.8 Updating of Worldwide Disclosure
Document. Worldwide shall notify the Company of any changes, additions or events which may cause any change in or addition
to the Worldwide Disclosure Document promptly after the occurrence of the same and at the Closing by the delivery of appropriate
updates to the Worldwide Disclosure Document. No notification made pursuant to this section shall be deemed to cure any breach
of any representation or warranty made by Worldwide in this Agreement, unless the Company specifically agrees thereto in writing,
nor shall any such notification be considered to constitute or result in a waiver by the Company of any condition set forth in
this Agreement.

 

5.9 Information Furnished Regarding
Super 8-K. The information provided by Worldwide specifically for inclusion in the Super 8-K or any amendment or supplement
thereto, at the time that the Super 8-K is filed, will not include an untrue statement of a material fact or omit to state a material
fact required to be stated therein or necessary to make the statements therein, considering the circumstances pursuant to which
those statements were made, not misleading.

 

    	25

    	 

    

 

5.10
Beneficial Ownership of Taiwan NOWnews. Worldwide’s beneficial ownership in Taiwan NOWnews will remain
at least 66% through December 31, 2015.

 

ARTICLE VI

 

COVENANTS OF THE COMPANY

 

The Company hereby covenants with Worldwide
and the Worldwide Shareholders as follows:

 

6.1 Satisfaction of Conditions. From
the Effective Date through the Closing Date, the Company will take every action reasonably required of it to satisfy the conditions
to Closing set forth in this Agreement and otherwise to ensure the prompt and expedient consummation of the Transaction substantially
as contemplated by the provisions of this Agreement, and will exert all reasonable efforts to cause the Transaction to be consummated;
provided however, that in all instances representations and warranties of Worldwide in this Agreement are and remain true and accurate
and the covenants and agreements of Worldwide in this Agreement are performed and the conditions to the obligations of the Company
set forth in this Agreement are not incapable of satisfaction and subject, at all times, to the right and ability of the directors
of the Company to satisfy their fiduciary obligations.

 

6.2 Access and Information. The
Company shall provide to Worldwide and to Worldwide’s accountants, counsel and other representatives reasonable access during
normal business hours during the period prior to the Closing to all of the properties, books, contracts, commitments, records (including,
but not limited to, tax returns), and personnel of the Company, and, during such period, the Company shall furnish promptly to
Worldwide (i) all written communications to its directors or to its shareholders generally, (ii) internal monthly financial statements
when and as available, and (iii) all other information concerning the business, properties, and personnel of the Company as Worldwide
may request, but no investigation pursuant to this section shall affect any representations or warranties of the Company, or the
conditions to the obligations of Worldwide to consummate the Transaction specified in this Agreement. In the event of the termination
of this Agreement, the Company will, and will cause its representatives to, deliver to Worldwide or destroy all documents, work
papers, and other material, and all copies thereof, obtained by the Company or on its behalf from Worldwide as a result of this
Agreement or in connection with this Agreement, whether so obtained before or after the execution of this Agreement, and the Company
will hold in confidence all confidential information, that has been designated as such by Worldwide in writing or by appropriate
and obvious notation, and will not use any such confidential information, except in connection with the Transaction, until such
time as such information is otherwise publicly available. The Company and its representatives shall assert their rights pursuant
to this Agreement in such manner as to minimize interference with the business of Worldwide.

 

    	26

    	 

    

 

6.3 Cooperation. The Company shall
cooperate with Worldwide and its counsel, accountants and agents in every way in consummating the Transaction and in delivering
all documents and instruments deemed reasonably necessary or useful by counsel to Worldwide.

 

6.4 No Solicitation. The Company
will not, and the Company will use its best efforts to cause its officers, employees, agents, and representatives to not, directly
or indirectly, solicit, encourage, or initiate any discussions with, or negotiate or otherwise deal with, or provide any information
to, any person other than Worldwide and its officers, employees, and agents, concerning any reorganization, sale of substantial
assets, or similar transaction involving the Company or any sale of any of its capital stock. The Company will notify Worldwide
immediately upon receipt of any inquiry, offer or proposal relating to any of the foregoing. None of the foregoing shall prohibit
providing information to others in a manner in keeping with the ordinary conduct of the Company’s business, or providing
information to government authorities.

 

6.5 Conduct of Business Pending the
Closing of the Transaction. Prior to the consummation of the Transaction or the termination of this Agreement pursuant to its
terms, unless Worldwide shall otherwise consent in writing, and except as otherwise contemplated by this Agreement, the Company
will comply with each of the following:

 

(1) The business of the Company shall be
conducted only in the ordinary and usual course, the Company shall use reasonable efforts to keep intact its business organization
and goodwill, keep available the services of its officers and employees and maintain good relationships with suppliers, lenders,
creditors, distributors, employees, customers, and other persons having business or financial relationships with the Company, and
the Company shall immediately notify Worldwide of any event or occurrence or emergency material to, and not in the ordinary and
usual course of business of, the Company.

 

(2) The Company shall not (a) amend
its Articles of Incorporation or Bylaws, or (b) split, combine, or reclassify any of its outstanding securities or declare, set
aside, or pay any dividend or other distribution on or make or agree or commit to make any exchange for or redemption of any such
securities payable in cash, stock, or property.

 

(3) The Company shall not (a) issue
or agree to issue any additional shares of, or rights of any kind to acquire any shares of, its capital stock of any class, or
(b) enter into any contract, agreement, commitment, or arrangement with respect to any of the foregoing.

 

(4) The Company shall not create, incur,
or assume any long-term or short-term indebtedness for money borrowed or make any capital expenditures or commitment for capital
expenditures, except in the ordinary course of business and consistent with past practice.

 

    	27

    	 

    

 

(5) The Company shall not (a) adopt, enter
into, or amend any bonus, profit-sharing, compensation, stock option, warrant, pension, retirement, deferred compensation, employment,
severance, termination, or other employee benefit plan, agreement, trust fund, or arrangement for the benefit or welfare of any
officer, director or employee; or (b) agree to any material (in relation to historical compensation) increase in the compensation
payable or to become payable to, or any increase in the contractual term of employment of, any officer, director, or employee,
except, with respect to employees who are not officers or directors, in the ordinary course of business in accordance with past
practice.

 

(6) The Company shall not sell, lease,
mortgage, encumber, or otherwise dispose of or grant any interest in any of its assets or properties, except for sales, encumbrances,
and other dispositions or grants in the ordinary course of business and consistent with past practice and except for liens for
taxes not yet due or liens or encumbrances that are not material in amount or effect and do not impair the use of their property,
or as specifically provided for or permitted in this Agreement.

 

(7) The Company shall not enter into, or
terminate, any material contract, agreement, commitment, or understanding.

 

(8) The Company shall not enter into any
agreement, commitment, or understanding, whether in writing or otherwise, with respect to any of the matters referred to in Paragraphs
(1) through (7), inclusive, of this section.

 

(9) The Company will continue promptly
and properly to file when due all federal, state, local, foreign and other tax returns, reports, and declarations required to be
filed by the Company, and pay, or make full and adequate provision for the payment of, all taxes and governmental charges due from
or payable by the Company.

 

(10) The Company will comply with all laws
and regulations applicable to the Company and its operations.

 

(11) The Company will maintain in full
force and effect insurance coverage of a type and amount customary in its business, but not less than that presently in effect.

 

6.6 Expenses. Whether or not the
Transaction in consummated, all costs and expenses incurred by the Company in connection with this Agreement and the Transaction
shall be paid by the Company.

 

6.7 Publicity. Prior to the Closing,
any written news releases by the Company pertaining to this Agreement or the Transaction shall be submitted to Worldwide for review
and approval prior to release by the Company, and shall be released only in a form approved by Worldwide; provided, however, that
(i) such approval shall not be unreasonably withheld and (ii) such review and approval shall not be required of releases by the
Company, if prior review and approval would prevent the timely and accurate dissemination of such press release as required to
comply, in the judgment of counsel, with any applicable law, rule, or policy.

 

    	28

    	 

    

 

6.8 Updating of Company Disclosure Document.
The Company shall notify Worldwide of any changes, additions, or events which may cause any change in or addition to the Company
Disclosure Document promptly after the occurrence of the same and again at the Closing by delivery of appropriate updates to the
Company Disclosure Document. No such notification made pursuant to this section shall be deemed to cure any breach of any representation
or warranty made in this Agreement, unless Worldwide and the Worldwide Shareholders specifically agree thereto in writing nor shall
any such modification be considered to constitute or result in a waiver by Worldwide or any of the Worldwide Shareholders of any
condition specified in this Agreement.

 

6.9 Super 8-K.

 

6.9.1 The Company shall prepare
and file with the SEC the Super 8-K within four business days after the Closing Date. The Company shall cause the Super 8-K to
comply as to form in all material respects with the applicable provisions of the Securities Act, the Exchange Act and the rules
and regulations promulgated pursuant thereto.

 

6.9.2 The Super 8-K and each amendment
or supplement thereto, at the time it is filed, will not include an untrue statement of a material fact or omit to state a material
fact required to be stated therein or necessary to make the statements therein, considering the circumstances pursuant to which
they were made, not misleading; provided, however, that the foregoing shall not apply to the extent that any such untrue statement
of a material fact or omission to state a material fact was made by the Company in reliance upon and in conformity with written
information concerning Worldwide or any of the Worldwide Subsidiaries furnished by Worldwide to the Company specifically for use
in the Super 8-K.

 

6.10    Stop Transfer
Instructions. The Company will refuse to register any transfer of the Exchange Shares not made in accordance with the registration
or exemptive provisions of the Securities Act or Regulation S. Accordingly, the Company shall provide instructions to the transfer
agent of the Company regarding the prohibition of any transfer of the Exchange Shares not made in accordance with such registration
or exemptive provisions.

 

6.11    Filing
and Furnishing of Information. The Company shall file
timely (or obtain extensions in respect thereof and file within the applicable extension period) all reports required to be filed
by the Company after the (i) Effective Date and (ii) before the Closing Date pursuant to Section 13(a) or 15(d) of the Exchange
Act and to furnish Worldwide promptly with true and complete copies of all such reports.

 

6.12    Integration.
The Company shall not sell, offer for sale or solicit offers to purchase or otherwise negotiate
in respect of any security (as defined in Section 2 of the Securities Act) that would be integrated with the issuance of the Exchange
Shares in a manner that would require the registration, pursuant to the Securities Act, of the issuance of any or all of the Exchange
Shares.

 

    	29

    	 

    

 

6.13    Transfer
Restrictions. If any of the shareholders of the Company should decide to dispose of any of the Exchange Shares, the Company
will inform those shareholders that they may do so only pursuant to an effective registration statement pursuant to the Securities
Act of the Company or pursuant to an available exemption from the registration and prospectus delivery requirements of the Securities
Act. In connection with any transfer of any Exchange Shares, other than pursuant to an effective registration statement filed by
the Company, the Company may require the transferor thereof to provide to the Company a written opinion of counsel, the form and
substance of which opinion shall be reasonably satisfactory to the Company, to the effect that such transfer does not require registration
of such transferred securities pursuant to the Securities Act, which opinion shall be delivered by counsel for the Company.

 

There shall be imprinted, during such time
as is required, of the following legend on the Exchange Certificates:

 

THE
SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION IN RELIANCE UPON EXEMPTION FROM
REGISTRATION PURSUANT TO THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND, ACCORDINGLY, MAY NOT BE
OFFERED OR SOLD EXCEPT IN ACCORDANCE WITH REGULATION S, PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT PURSUANT TO THE SECURITIES
ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT. HEDGING TRANSACTIONS REGARDING
THOSE SECURITIES MAY NOT BE CONDUCTED, EXCEPT IN COMPLIANCE WITH THE SECURITIES ACT.

 

6.14 Availability of the Transaction.
The Company confirms that the benefits of the Transaction are intended to be available to all of the Worldwide Shareholders,
and that no such shareholder is intended to be excluded from participation in the benefits of the Transaction.

 

    	30

    	 

    

  

ARTICLE VII

 

CONDITIONS TO CLOSING

 

7.1 Conditions to Obligation of the
Worldwide Shareholders. The obligation of the Worldwide Shareholders to close the Transaction shall be subject to the performance
at or prior to the Closing of the following conditions, unless the Worldwide Shareholders shall, by a majority in interest of the
Worldwide Shareholders, waive such fulfillment in writing:

 

(1) This Agreement and the Transaction
shall have received all approvals, consents, authorizations, and waivers from governmental and other regulatory agencies and other
third parties required to consummate the Transaction.

 

(2) There shall not be in effect a preliminary
or permanent injunction or other order by any authority which prohibits the consummation of the Transaction.

 

(3) The Company shall have performed in
all material respects each of its agreements and obligations specified in this Agreement and required to be performed on or prior
to the Closing and shall have complied with all material requirements, rules, and regulations of all regulatory authorities having
jurisdiction relating to the Transaction.

 

(4) The Company shall have prepared and
completed the Super 8-K in a form appropriate to be filed with the SEC.

 

(5) No material adverse change shall, in
the judgment of a majority in interest of the Worldwide Shareholders, have taken place in the business condition (financial or
otherwise), operations, or prospects of the Company since the Effective Date, other than those, if any, that result from the changes
permitted by the Transaction and the provisions of this Agreement.

 

(6) The representations and warranties
of the Company set forth in this Agreement shall be true in all material respects as of the Effective Date and, except in such
respects as, in the judgment of a majority of interest of the Worldwide Shareholders, do not materially and adversely affect the
business, condition (financial or otherwise), operations, or prospects of the Company as of the Closing Date, as if those representations
and warranties were made as of the Closing Date.

 

7.2 Conditions to Obligation of the
Company. The obligation of the Company to close the Transaction shall be subject to the performance at or prior to the Closing
of the following conditions, unless the Company shall waive such fulfillment in writing:

 

(1) This Agreement and the Transaction
shall have received all approvals, consents, authorizations, and waivers from governmental and other regulatory agencies and other
third parties required by law to consummate the Transaction.

 

(2) There shall not be in effect a preliminary
or permanent injunction or other order by any federal or state authority which prohibits the consummation of the Transaction.

 

(3) Worldwide and the Worldwide Shareholders
shall have performed in all material respects their agreements and obligations specified in this Agreement required to be performed
on or prior to the Closing and shall have complied with all material requirements, rules, and regulations of all regulatory authorities
having jurisdiction relating to the Transaction.

 

    	31

    	 

    

 

(4) Worldwide shall have delivered to the
Company all of the information regarding Worldwide and the Worldwide Subsidiaries necessary or appropriate to prepare and file
the Super 8-K.

 

(5) No material adverse change shall, in
the reasonable judgment of the Company, have taken place in the business, conditioned (financial or otherwise) operations or prospects
of Worldwide or any of the Worldwide Subsidiaries since the Effective Date, other than those, if any, that result from changes
permitted by the Transaction and the provisions of this Agreement.

 

(6) The representations and warranties
of Worldwide and the Worldwide Shareholders set forth in this Agreement shall be true in all material respects as of the Effective
Date and, except in such respects as, in the reasonable judgment of the Company, do not materially and adversely affect the business,
condition (financial or otherwise), operations, or prospects of Worldwide or any of the Worldwide Shareholders as of the Closing
Date as if those representations and warranties were made as of the Closing Date.

 

(7) Worldwide, the Stockholders and Worldwide
Subsidiaries shall secure a guarantee executed by Alan Chen and Chiu-Li Tu (collectively the “Guarantors”) to be executed
in favor of the Company, pursuant to which the Guarantors shall guarantee to make a cash payment in the amount of the net loss
in the event that Taiwan NOWnews reports a net loss as defined by US GAAP for the years ended December 31, 2014 and 2015, respectively,
within 15 business days of the date of the audited financial statements.

 

ARTICLE VIII

 

EXCHANGE SHARES AND WORLDWIDE SHAREHOLDERS

 

8.1 Worldwide Shareholders’ Ownership
Representations. Each of the Worldwide Shareholders represents and warrants to the Company, severally and not jointly, that
he, she or it, as the case may be, (i) owns the number of Worldwide Shares set forth opposite his, her, or its name, as the case
may be, on the respective signature page of this Agreement, to be delivered to the Company at the Closing pursuant to the terms
of this Agreement, free and clear of any and all liens, claims, encumbrances, and rights of others; and (ii) is fully and freely
authorized and entitled to sell, transfer, assign, deliver, set over, and convey to the Company free and clear title to those Worldwide
Shares, without any further approval or authorization being required.

 

8.2 Non Registration of the Exchange
Shares. The Worldwide Shareholders, and each of them, understand and acknowledge that the Exchange Shares will be issued without
registration pursuant to the Securities Act, as all recipients of the Exchange Shares are not U.S. persons and, therefore, the
Transaction is exempt from such registration, pursuant to Regulation S.

 

    	32

    	 

    

 

8.3 Non-U.S. Person Representation.
Each of the Worldwide Shareholders, severally and not jointly, represents, warrants and certifies to the Company that (i) he, she
or it, as the case may be, is not a “U.S. person” as defined by the provisions of Rule 902(k) of Regulation S and has
such knowledge and experience in financial and business matters as to be capable of evaluating the merits and risks of an acquisition
of the Exchange Shares;(ii) the issuance of the Exchange Shares to him, her or it, as the case may be, was made in an “offshore
transaction” as that term is defined by the provisions of Rule 902(h) of Regulation S; (iii) he, she or it, as the case may
be, is aware of the restriction regarding resale imposed upon the Exchange Shares, because of the nature of the Transaction; and
(iv) he, she or it, as the case may be, will receive and accept at the Closing the Exchange Shares for investment and without any
intention to sell, transfer, or otherwise distribute the Exchange Shares acquired by that Worldwide Shareholder in any manner that
is in violation of the Securities Act. The Exchange Certificates, when delivered to the Worldwide Shareholders at the Closing,
may have appropriate orders restricting transfer placed against them on the records of the transfer agent for the Company and shall
have placed upon them the legend specified by the provisions of Section 6.14.

 

8.4 Restriction re: Transfer of Exchange
Shares. Each Worldwide Shareholder shall not attempt to transfer any of its Exchange Shares without first complying with the
intent and purpose of the legend specified in Section 6.14.

 

8.5 Hedging Transactions Re: Exchange
Shares. Each Worldwide Shareholder shall not engage in hedging transactions with regard to the Exchange Shares, unless in compliance
with the provisions of the Securities Act.

 

ARTICLE IX

 

TERMINATION

 

This Agreement and the Transaction may
be terminated at any time prior to the Closing:

 

(1) By mutual consent of Worldwide and
the Worldwide Shareholders, on the one hand, and the Company, on the other hand; or

 

(2) By either Worldwide and the Worldwide
Shareholders, on the one hand, or the Company, on the other hand, upon written notice to the other, if the conditions to such party's
obligations to consummate the Transaction, in the case of the Worldwide Shareholders, as specified in Section 7.1 of this Agreement,
or, in the case of the Company, as provided in Section 7.2 of this Agreement, were not, or cannot reasonably be, satisfied on or
before ___________, unless the failure of condition is the result of the material breach of this Agreement by the party to this
Agreement seeking to terminate this Agreement.

 

    	33

    	 

    

 

ARTICLE X

 

INDEMNIFICATION

 

10.1 Indemnification by the Company.
The Company shall indemnify, save and hold harmless the Worldwide Shareholders, Worldwide and their Affiliates, officers, employees,
directors, accountants, auditors, attorneys, partners, agents, and other representatives from and against any and all costs, losses
(including, without limitation, diminution in value), liabilities, damages, lawsuits, deficiencies, adverse claims, taxes and expenses
(whether or not resulting from third-party claims), including, without limitation, interest, penalties, reasonable attorneys' fees
and all amounts paid in investigation, defense or settlement of any of the foregoing (collectively, "Damages"), incurred
in connection with or resulting from any breach of any covenant or warranty, or the inaccuracy of any representation made by the
Company in or pursuant to this Agreement.

 

10.2 Indemnification by Worldwide.
Worldwide shall indemnify, save and hold harmless the Company and the Company’s Affiliates, officers, employees, directors,
accountants, auditors, attorneys, partners, agents and other representatives, from and against any and all Damages incurred in
connection with or arising out of or resulting from any breach of any covenant or warranty, or the inaccuracy of any representation,
made by Worldwide or any of the Worldwide Shareholders in or pursuant to this Agreement.

 

10.3 Defense of Third-Party Claims.
If any lawsuit or enforcement action is filed against any party entitled to the benefit of indemnification pursuant to this
Article X, written notice thereof shall be given to the indemnifying party as promptly as practicable (and in any event no later
than fifteen (15) days after the service of the citation or summons); provided, however, that the failure of any indemnified party
to give timely notice shall not affect the rights to indemnification contemplated by this Article X, except to the extent that
the indemnifying party demonstrates actual damage caused by such failure. After such notice, if the indemnifying party shall acknowledge
in writing to the indemnified party that the indemnifying party shall be obligated pursuant to the terms of its indemnification
pursuant to this Article X in connection with such lawsuit or action, then the indemnifying party shall be entitled, if such party
so decides, to take control of the defense and investigation of such lawsuit or action and to employ and engage attorneys of its
own choice to handle and defend the same, at the indemnifying party's cost, risk and expense; provided, however, that the indemnifying
party and its counsel shall proceed with diligence and in good faith with respect thereto. The indemnified party shall cooperate
in all reasonable respects with the indemnifying party and such attorneys in the investigation, trial and defense of such lawsuit
or action and any appeal resulting therefrom; provided, however, that the indemnified party may, at its own cost, participate in
the investigation, trial and defense of such lawsuit or action and any appeal resulting therefrom.

 

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ARTICLE XI

 

GENERAL PROVISIONS

 

11.1. Notices. Any notice, direction
or instruction required or permitted to be given pursuant to this Agreement shall be given in writing by (a) telegram, facsimile
transmission, electronic transmission (email), or similar method, if confirmed by mail as provided in this Agreement; (b) by mail,
if mailed postage prepaid, by certified mail, return receipt requested; or (iii) hand delivery to any party to this Agreement at
the address of such party specified below. If given by telegram, facsimile transmission, electronic transmission (email), or similar
method or by hand delivery, such notice, direction or instruction shall be deemed to have been given or made on the day on which
such notice, direction or instruction was delivered, and if mailed, such notice, direction or instruction shall be deemed to have
been given or made on the second (2nd) business day following the day after which such notice, direction or instruction was mailed.
Any party to this Agreement may, from time to time by similar notice, give notice of any change of address and, in such event,
the address of such party shall be deemed to be changed accordingly. The address, telephone number, facsimile transmission number
and email address for the notice of each party are:

 

	If to the Company:	4F, No. 550 Ruigang Road
	 	Neihu District
	 	Taipei City 114
	 	Taiwan, Republic of China
	 	Facsimile Number:_____________
	 	Email: ______________________
	 	 
	If to Worldwide and the	Unit 706
	Worldwide Shareholders:	Haleson Building
	 	Number 1 Jublilee Street
	 	Hong Kong
	 	Facsimile Number:________________
	 	Email: ________________________

 

11.2. Recovery of Enforcement Costs.
In the event any party to this Agreement shall institute any action or proceeding to enforce any provision of this Agreement,
to seek relief from any violation of this Agreement, or to otherwise obtain any judgment or order relating to or arising from the
subject matter of this Agreement, each prevailing party in such action or proceeding shall be entitled to receive from each losing
party such prevailing party's actual attorneys' fees and costs incurred to prosecute or defend such action or proceeding.

 

11.3. Assignment. No party to this
Agreement shall have the right, without the consent of the other parties to this Agreement, to assign, transfer, sell, pledge,
hypothecate, delegate, or otherwise transfer, whether voluntarily, involuntarily or by operation of law, any of such party's rights
or obligations created by the provisions of this Agreement, nor shall the parties' rights created by the provisions of the Agreement
be subject to encumbrance or the claim of creditors. Any such purported assignment, transfer, or delegation shall be null and void.

 

11.4. Captions and Interpretations.
Captions of the articles and sections of this Agreement are for convenience and reference only, and the words specified therein
shall in no way be held to explain, modify, amplify or aid in the interpretation, construction, or meaning of the provisions of
this Agreement. The language in all parts to this Agreement, in all events, shall be construed in accordance with the fair meaning
of that language, as if prepared by all parties to this Agreement and not strictly for or against any party to this Agreement.
Each party to this Agreement has reviewed and read this Agreement carefully. The rule of construction which requires a court to
resolve any ambiguities against the drafting party shall not apply in interpreting the provisions of this Agreement.

 

    	35

    	 

    

 

11.5. Entire Agreement. This Agreement
and the respective Disclosure Documents are the final written expression and the complete and exclusive statement of all the agreements,
conditions, promises, representations, warranties and covenants between the parties to this Agreement with respect to the subject
matter of this Agreement, and this Agreement supersedes all prior or contemporaneous agreements, negotiations, representations,
warranties, covenants, understandings and discussions by and between and among those parties, their respective representatives,
and any other person, with respect to the subject matter specified in this Agreement. No provision of any Disclosure Document shall
supersede or annul the terms and provisions of this Agreement, unless the matter specified in such Disclosure Document shall explicitly
so provide to the contrary. In the event of ambiguity in meaning or understanding between the provisions of this Agreement proper
and any Disclosure Document, the provisions of that Disclosure Document shall prevail and control in all instances.

 

11.6 Waiver and Modification. No
modification, supplement or amendment of this Agreement or of any covenant, representation, warranty, condition, or limitation
specified in this Agreement shall be valid unless the same is made in writing and duly executed by all parties to this Agreement.
No waiver of any covenant, representation, warranty, condition, or limitation specified in this Agreement shall be valid, unless
the same is made in writing and duly executed by the party making the waiver. No waiver of any provision of this Agreement shall
be deemed, or shall constitute, a waiver of any other provision of this Agreement, whether or not similar, nor shall any waiver
of any provision of this Agreement constitute a continuing waiver of that provision.

 

11.7 Further Assurances. The parties
to this Agreement shall from time to time sign and deliver any further instruments and take any further actions as may be necessary
to effectuate the intent and purposes of this Agreement.

 

11.8 Number and Gender. Whenever
the singular number is used in this Agreement and, when required by the context, the same shall include the plural, and vice versa;
the masculine gender shall include the feminine and the neuter genders, and vice versa, and the word "person" shall include
individual, company, sole proprietorship, corporation, joint venture, association, joint stock company, fraternal order, cooperative,
league, club, society, organization, trust, estate, governmental agency, political subdivision or authority, firm, municipality,
congregation, partnership, or other form of entity, whether active or passive.

 

11.9 Successors and Assigns. This
Agreement and each of its provisions shall obligate the heirs, executors, administrators, successors, and assigns of each of the
parties to this Agreement. Nothing specified in this section, however, shall be a consent to the assignment or delegation by any
party of such party's respective rights and obligations created by the provisions of this Agreement.

 

    	36

    	 

    

 

11.10 Third Party Beneficiaries. Except
as expressly specified by the provisions of this Agreement, this Agreement shall not be construed to confer upon or give to any
person, other than the parties to this Agreement, any right, remedy or claim pursuant to, or by reason of, this Agreement or of
any term or condition of this Agreement.

 

11.11 Severability. In the event
any portion of this Agreement, for any reason, is determined by a court of competent jurisdiction to be invalid, such determination
shall not affect the validity of any remaining portion of this Agreement, which remaining portion shall remain in full force and
effect as if this Agreement had been executed with the invalid portion thereof eliminated. It is hereby declared the intention
of the parties to this Agreement that those parties would have executed the remaining portion of this Agreement without including
any such portion which, for any reason, may be hereafter determined to be invalid.

 

11.12 Governmental Rules and Regulations.
The Transaction is and shall remain subject to any and all present and future orders, rules and regulations of any duly constituted
authority having jurisdiction of the Transaction.

 

11.13 Execution in Counterparts. This
Agreement may be prepared in multiple copies and forwarded by electronic or facsimile transmission to each of the parties for execution.
All of the signatures of the parties to this Agreement may be affixed to one copy or to separate copies of this Agreement, and
when all such copies are received by electronic or facsimile transmission and signed by all of those parties, those copies shall
constitute one agreement, which is not otherwise separable or divisible.

 

11.14 Reservation of Rights. The
failure of any party to this Agreement at any time or times to require strict performance by any other party to this Agreement
of any of the warranties, representations, covenants, terms, conditions and provisions specified in this Agreement shall not waive,
affect or diminish any right of such party failing to require strict performance to demand strict compliance and performance therewith
and with any other provisions, warranties, terms, and conditions specified in this Agreement.

 

11.15 Survival of Covenants, Representations
and Warranties. All covenants, representations, and warranties made by each party to this Agreement shall be deemed made for
the purpose of inducing the other parties to this Agreement to enter into and execute this Agreement. The representations, warranties,
and covenants specified in this Agreement shall survive the Closing and shall survive any investigation by any such party, whether
before or after the execution of this Agreement.

 

11.16 Concurrent Remedies. No right
or remedy specified in this Agreement conferred on or reserved to the parties to this Agreement is exclusive of any other right
or remedy specified in this Agreement or by law or equity provided or permitted; but each such right and remedy shall be cumulative
of, and in addition to, every other right and remedy specified in this Agreement or now or hereafter existing at law or in equity
or by statute or otherwise, and may be enforced concurrently therewith or from time to time. The termination of this Agreement
for any reason whatsoever shall not prejudice any right or remedy which any party may have, either at law, in equity, or pursuant
to the provisions of this Agreement.

 

    	37

    	 

    

 

11.17 Governing Law. This Agreement
shall be deemed to have been entered into in the State of Nevada, and all questions concerning the validity, interpretation, or
performance of any of the terms, conditions and provisions of this Agreement or of any of the rights or obligations of the parties
shall be governed by, and resolved in accordance with, the laws of the State of Colorado, without regard to conflicts of law principles.

 

11.18 Force Majeure.
If any party to this Agreement is rendered unable, completely or partially, by the occurrence of an event of "force majeure"
(as that term is defined later in this section) to perform such party's obligations created by the provisions of this Agreement,
such party shall give to each other party to this Agreement prompt written notice of the event of "force majeure" with
reasonably complete particulars concerning such event; thereupon, the obligations of the party giving such notice, so far as those
obligations are affected by the event of "force majeure," shall be suspended during, but no longer than, the continuance
of the event of "force majeure." The party to this Agreement affected by such event of "force majeure" shall
use all reasonable diligence to resolve, eliminate and terminate the event of "force majeure" as quickly as practicable.
The requirement that an event of "force majeure" shall be remedied with all reasonable dispatch as specified in this
section, shall not require the settlement of strikes, lockouts or other labor difficulties by the party involved, contrary to such
party's wishes, and the resolution of any and all such difficulties shall be handled entirely within the discretion of the party
concerned. The term "force majeure" as used in this section shall be defined as and mean any act of God, strike, civil
disturbance, terrorism, lockout or other industrial disturbance, act of the public enemy, war, blockade, public riot, earthquake,
tornado, hurricane, lightning, fire, public demonstration, storm, catastrophe, flood, explosion, governmental action, governmental
delay, restraint or inaction, unavailability of equipment, and any other cause or event, whether of the type enumerated specifically
in this section or otherwise, which is not reasonably within the control of the party to this Agreement claiming such suspension.

 

11.19 Consent to Agreement. By executing
this Agreement, each party to this Agreement, for himself, herself, or itself, as the case may be, represents such party has read
or caused to be read this Agreement in all particulars, and consents to the rights, conditions, duties and responsibilities imposed
upon such party as specified in this Agreement. Each party to this Agreement represents, warrants and covenants that such party
executes and delivers this Agreement of such party’s own free will and with no threat, undue influence, menace, coercion
or duress, whether economic or physical. Moreover, each party to this Agreement represents, warrants, and covenants that such party
executes this Agreement acting on such party's own independent judgment.

 

    	38

    	 

    

 

IN WITNESS WHEREOF, the undersigned have
caused this Agreement to be signed on the date specified in the preamble of this Agreement.

 

NOWNEWS DIGITAL MEDIA TECHNOLOGY CO, LTD.

 

	By: 	 	 
	 	Alan Chen	 
	 	 	 
	Its: President	 
	 	 	 
	WORLDWIDE MEDIA INVESTMENTS CORP.
	 	 	 
	By: 	 	 
	Name: Alan Chen	 
	Its: Chief Executive Officer	 
	 	 
	NOWNEWS NETWORK CO., LTD.	 
	 	 	 
	By: 	 	 
	Name: Chuang,Shih-Te	 
	Title: Chairman	 

 

    	39

    	 

    

 

	Worldwide Shareholders	 	Number of Worldwide Shares held:
	 	 	 
	Legend Media Investments Co., Ltd.,	 	350,000
	a Seychelles corporation	 	 

 

	By: 	 	 
	Alan Chen	 
	Its: President	 

 

	TROPHY ACCESS LIMITED,	 	419,575
	an Anguilla corporation	 	 

 

	By: 	 	 
	Alan Chen	 
	Its: President	 

 

	Intelligent Media Investments Co., Ltd.,	 	445,000
	a Seychelles corporation	 	 

 

	By: 	 	 
	Alan Chen	 
	Its: President	 

 

	CORE WINNER INVESTMENT LIMITED,	 	445,000
	an Anguilla corporation	 	 

 

	By: 	 	 
	Alan Chen	 
	Its: President	 

 

	Social Cloud Co., Ltd.	 	395,100
	a Seychelles corporation	 	 

 

	By: 	 	 
	Alan Chen	 
	Its: President	 

 

	GIA Investments Corp.,	 	3,000,000
	a Nevada corporation	 	 

 

    	40

    	 

    

 

	By: 	 	 
	 	 	 
	Its: President	 

 

	 	 	 
	
        TING,CHANG-YAO

         
	 	10,000
	 	 	 
	
        FANG,TENG-CHI

         
	 	19,500
	 	 	 
	
        WANG,WEN-TUNG

         
	 	100,000
	 	 	 
	
        WANG,WEN-FONG

         
	 	20,000
	 	 	 
	
        WANG,HUNG-SEN

         
	 	10,000
	 	 	 
	
        WANG,HSIU-MAN

         
	 	50,000
	 	 	 
	
        WANG,CHE-VIN

         
	 	50,000
	 	 	 
	
        WANG,TAI-I

         
	 	10,000
	 	 	 
	WANG,TE-HSIEN	 	10,000

 

    	41

    	 

    

 

	 	 	 
	
        WANG,HUI-SHEN

         
	 	5,000
	 	 	 
	
        WANG,CHIN-YU

         
	 	250,000
	 	 	 
	
        WANG,HSIANG-YEN

         
	 	10,000
	 	 	 
	
        WANG,TZU-HUNG

         
	 	50,000
	 	 	 
	
        WANG,SHENG-TENG

         
	 	20,000
	 	 	 
	
        WANG,SHU-SHIN

         
	 	10,000
	 	 	 
	
        WANG,LAN-KUAN

         
	 	5,000
	 	 	 
	
        WANG,LI-CHUAN

         
	 	5,000
	 	 	 
	
        WANG,YUEH-HSIEN

         
	 	50,000
	 	 	 
	
        KU,CHUN-PING

         
	 	10,000
	 	 	 
	SHIU,HUI-HSIEN	 	10,000

 

    	42

    	 

    

 

	 	 	 
	
        TIEN,CHIAO-CHEN

         
	 	80,000
	 	 	 
	
        TIEN,CHENG-HSUN

         
	 	10,000
	 	 	 
	
        PAI,JIA-YING

         
	 	26,000
	 	 	 
	
        SHIH,MEI-CHING

         
	 	50,000
	 	 	 
	
        JEN,HUI-LI

         
	 	10,000
	 	 	 
	
        CHIANG,HSIU-JOU

         
	 	128,500
	 	 	 
	
        CHIANG,TSUNG-CHIEN

         
	 	50,000
	 	 	 
	
        CHIANG,TZU-MAN

         
	 	10,000
	 	 	 
	
        CHIANG HSIEH,FU-MEI

         
	 	10,000
	 	 	 
	HO,WEN-YANG	 	10,000

 

    	43

    	 

    

 

	 	 	 
	
        HO,MIN-O

         
	 	20,000
	 	 	 
	
        HO,KAO-FENG

         
	 	10,000
	 	 	 
	
        HO,MIN-CHEN

         
	 	30,000
	 	 	 
	
        HO,YU-YAO

         
	 	30,000
	 	 	 
	
        YU,MEI-YEN

         
	 	10,000
	 	 	 
	
        YU,SU-CHIAO

         
	 	10,000
	 	 	 
	
        WU,YU-CHEN

         
	 	10,000
	 	 	 
	WU,PEI-LIN	 	30,000

 

	 	 	 
	
        WU,XIU-YU

         
	 	30,000
	 	 	 
	
        WU,HSIU-LUAN

         
	 	20,000
	 	 	 
	WU,PEI-HSUN	 	40,000

 

    	44

    	 

    

 

	 	 	 
	
        WU,MIN-HUA

         
	 	30,000
	 	 	 
	
        WU,MING-HSUEN

         
	 	50,000
	 	 	 
	
        WU,SHU-HUI

         
	 	71,500
	 	 	 
	
        WU,TUNG-HSUAN

         
	 	2,500
	 	 	 
	
        WU,TSAI-YING

         
	 	40,000
	 	 	 
	
        WU,CHIN-TSUNG

         
	 	10,000
	 	 	 
	
        WU,SHENG-HSIN

         
	 	50,000
	 	 	 
	
        WU,SHAO-EN

         
	 	10,000
	 	 	 
	
        WU,FU-TANG

         
	 	5,000
	 	 	 
	WU,CHANG-KUO	 	20,000

 

    	45

    	 

    

 

	 	 	 
	
        WU YEH,CHUN-FENG

         
	 	10,000
	 	 	 
	
        WU,JUNG-CHIEH

         
	 	5,000
	 	 	 
	
        WU,JUNG-HUA

         
	 	30,000
	 	 	 
	
        LU,YU-HSIANG

         
	 	40,000
	 	 	 
	
        LU,HSIU-YUN

         
	 	15,000
	 	 	 
	
        LU HUNG,SHU-CHEN

         
	 	20,000
	 	 	 
	
        LU,KUO-MING

         
	 	10,000
	 	 	 
	
        LU,SHU-HSIA

         
	 	10,000
	 	 	 
	
        LU,TIEN-HIS

         
	 	24,000
	 	 	 
	
        LEE,CHENG-CHIH

         
	 	20,000
	 	 	 
	LI,YU-LING	 	10,000

 

    	46

    	 

    

 

	 	 	 
	
        LEE,CHUAN-CHAN

         
	 	20,000
	 	 	 
	
        LI,MING-YU

         
	 	40,000
	 	 	 
	
        LEE,CHENG-HSIEN

         
	 	20,000
	 	 	 
	
        LI,CHENG-HUNG

         
	 	50,000
	 	 	 
	
        LEE,YING-HSIANG

         
	 	5,000
	 	 	 
	
        LEE,HAI-CHU

         
	 	50,000
	 	 	 
	
        LEE,HSUN-CHUAN

         
	 	50,000
	 	 	 
	
        LI,CHI-CHUAN

         
	 	45,000
	 	 	 
	
        LEE,KUO-NAN

         
	 	10,000
	 	 	 
	LI,CHUNG-WEN	 	10,000

 

    	47

    	 

    

 

	 	 	 
	
        LEE,CHING-YUNG

         
	 	5,000
	 	 	 
	
        LI,HUI-CHING

         
	 	10,000
	 	 	 
	
        LEE,YI-CHEN

         
	 	10,000
	 	 	 
	
        LEE,TE-SHENG

         
	 	5,000
	 	 	 
	
        LEE HSIEH,HUI-CHU

         
	 	20,000
	 	 	 
	
        LI SU,PI-HUI

         
	 	30,000
	 	 	 
	
        TU,YUNG-NAN

         
	 	10,000
	 	 	 
	
        TU,CHENG-CHANG

         
	 	35,000
	 	 	 
	
        TU,CHIU-LI

         
	 	2,707,725
	 	 	 
	
        TU,CHEN-WEI

         
	 	100,000
	 	 	 
	WANG,TSAI-HSIA	 	5,000

 

    	48

    	 

    

 

	 	 	 
	
        SHEN,YEN-YI

         
	 	60,000
	 	 	 
	
        SHEN,SHU-CHUAN

         
	 	5,000
	 	 	 
	
        SHEN,HSIN-YAO

         
	 	10,000
	 	 	 
	
        SHEN YANG,SU-CHEN

         
	 	10,000
	 	 	 
	
        JUAN,CHAO-YANG

         
	 	12,500
	 	 	 
	
        CHOU,HSIU-YING

         
	 	10,000
	 	 	 
	
        CHOU,MENG-JU

         
	 	80,000
	 	 	 
	
        CHOU,TSUNG-WEI

         
	 	20,000
	 	 	 
	
        CHOU,CHIN-LANG

         
	 	5,000
	 	 	 
	CHOU,HSU YUEN-HSIANG	 	100,000

 

    	49

    	 

    

 

	 	 	 
	
        CHOU,CHEN-YI

         
	 	20,000
	 	 	 
	
        SHANG,SU-PING

         
	 	50,000
	 	 	 
	
        LIN,CHIEN-YUN

         
	 	10,000
	 	 	 
	
        LIN,TZU-YAO

         
	 	10,000
	 	 	 
	
        LIN,CHENG-CHIH

         
	 	368,100
	 	 	 
	
        LIN,YUNG-FAN

         
	 	10,000
	 	 	 
	
        LIN,HO-CHUN

         
	 	45,000
	 	 	 
	
        LIN,YU-JUNG

         
	 	5,000
	 	 	 
	
        LIN,HUNG-YUEH

         
	 	10,000
	 	 	 
	
        LIN,HSIU-FENG

         
	 	20,000
	 	 	 
	LIN,CHIA-HSUAN	 	10,000

 

    	50

    	 

    

 

	 	 	 
	
        LIN,CHIA-CHIN

         
	 	10,000
	 	 	 
	
        LIN,CHI-TSUN

         
	 	30,000
	 	 	 
	
        LIN,SHENG-YUN

         
	 	10,000
	 	 	 
	
        LIN,MING-HSIN

         
	 	150,000
	 	 	 
	
        LIN,MING-CHIEH

         
	 	10,000
	 	 	 
	
        LIN,MING-CHUAN

         
	 	30,000
	 	 	 
	
        LIN,CHIEH-CHI

         
	 	10,000
	 	 	 
	
        LIN,CHUN-MING

         
	 	10,000
	 	 	 
	
        LIN,YIN-TING

         
	 	10,000
	 	 	 
	LIN,SU-CHIN	 	2,500

 

    	51

    	 

    

 

	 	 	 
	
        LIN,KUO-YUNG

         
	 	20,000
	 	 	 
	
        HUANG LIN,SHU HUI

         
	 	5,000
	 	 	 
	
        LIN,HSIANG-CHEN

         
	 	10,000
	 	 	 
	
        LIN,TING-SUNG

         
	 	10,000
	 	 	 
	
        LIN,TING-SHENG

         
	 	10,000
	 	 	 
	
        LIN,TSUI-CHU

         
	 	20,000
	 	 	 
	
        LIN,FENG-CHU

         
	 	10,000
	 	 	 
	
        LIN,YEN-TSUNG

         
	 	10,000
	 	 	 
	
        CHIU,YI-LANG

         
	 	20,000
	 	 	 
	
        CHIU,YI-WEI

         
	 	10,000
	 	 	 
	CHIU,CHIA-YU	 	10,000

 

    	52

    	 

    

 

	 	 	 
	
        CHIU,JUI-WEN

         
	 	10,000
	 	 	 
	
        CHIU,JUI-HSIA

         
	 	847,500
	 	 	 
	
        SHAO,CHI-CHIEH

         
	 	76,000
	 	 	 
	
        SHAO,YUN-HUI

         
	 	23,000
	 	 	 
	
        SHAO,HAN-TUNG

         
	 	108,000
	 	 	 
	
        SHIH CHIANG,HSIU-LI

         
	 	80,000
	 	 	 
	
        SHY,YIH-JONE

         
	 	100,000
	 	 	 
	
        KO,YUEH-YEH

         
	 	10,000
	 	 	 
	
        KO,YEN-CHEN

         
	 	60,000
	 	 	 
	KO,SU-CHIH	 	20,000

 

    	53

    	 

    

 

	 	 	 
	
        KO,WEI-HSIUNG

         
	 	10,000
	 	 	 
	
        HUNG,MING-CHUN

         
	 	10,000
	 	 	 
	
        HUNG,CHENG-YEN

         
	 	30,000
	 	 	 
	
        HUNG,CHI-CHENG

         
	 	10,000
	 	 	 
	
        HUNG,CHING-FA

         
	 	30,000
	 	 	 
	
        HUNG,MA-LI

         
	 	20,000
	 	 	 
	
        HUNG,FENG-CHU

         
	 	10,000
	 	 	 
	
        CHI,CHAN-NAN

         
	 	70,000
	 	 	 
	
        CHI,KAI-HAO

         
	 	10,000
	 	 	 
	
        HU,YU-YEN

         
	 	10,000
	 	 	 
	HU,SHENG-CHANG	 	5,000

 

    	54

    	 

    

 

	 	 	 
	
        HU,YAO-ZONG

         
	 	10,000
	 	 	 
	
        SUN,CHIN-YEH

         
	 	10,000
	 	 	 
	
        SUN,CHANG-AN

         
	 	10,000
	 	 	 
	
        SUN,YING-SUN

         
	 	10,000
	 	 	 
	
        HSU,HSIAO-LIEN

         
	 	15,000
	 	 	 
	
        HSU,LI-KUN

         
	 	23,000
	 	 	 
	
        HSU,MING-HSING

         
	 	20,000
	 	 	 
	
        HSU,YI-YUAN

         
	 	20,000
	 	 	 
	
        HSU,MEI-CHU

         
	 	10,000
	 	 	 
	HSU,HSIANG-LIEN	 	10,000

 

    	55

    	 

    

 

	 	 	 
	
        WUNG,KUI-CHU

         
	 	30,000
	 	 	 
	
        WENG,PIN-YUAN

         
	 	10,000
	 	 	 
	
        WENG,CHIH-HUNG

         
	 	10,000
	 	 	 
	
        MA,HSIU-CHEN

         
	 	10,000
	 	 	 
	
        KAO,YU-CHING

         
	 	10,000
	 	 	 
	
        KANG,SHU-LIN

         
	 	10,000
	 	 	 
	
        CHANG,LI-JEN

         
	 	10,000
	 	 	 
	
        CHANG,SHAO-HWA

         
	 	10,000
	 	 	 
	
        CHANG,YUEH-YING

         
	 	40,000
	 	 	 
	
        CHANG,YU-HSIU

         
	 	5,000
	 	 	 
	CHANG,HO-HSIN	 	10,000

 

    	56

    	 

    

 

	 	 	 
	
        CHANG,YU-CHU

         
	 	5,000
	 	 	 
	
        CHANG,HSIU-CHU

         
	 	17,000
	 	 	 
	
        CHANG,I-HUI

         
	 	47,000
	 	 	 
	
        CHANG,FANG-MIEN

         
	 	10,000
	 	 	 
	
        CHANG,HENG-JUI

         
	 	10,000
	 	 	 
	
        CHANG,CHIA-HUA

         
	 	63,000
	 	 	 
	
        CHANG,CHIN-CHENG

         
	 	2,000
	 	 	 
	
        CHANG,SHU-FEN

         
	 	10,000
	 	 	 
	
        CHANG,CHU-MEI

         
	 	10,000
	 	 	 
	CHANG,JUI-YING I	 	100,000

 

    	57

    	 

    

 

	 	 	 
	
        CHANG,SHU-SEN

         
	 	50,000
	 	 	 
	
        CHANG,LI-CHIU

         
	 	55,000
	 	 	 
	
        LIANG,YA-HUI

         
	 	10,000
	 	 	 
	
        LIANG,HSIU-CHU

         
	 	11,500
	 	 	 
	
        MEI,YU-CHUN

         
	 	10,000
	 	 	 
	
        CHUANG,MING-CHE

         
	 	50,000
	 	 	 
	
        CHUANG,YU-LIN

         
	 	30,000
	 	 	 
	
        CHUANG,YING-CHI

         
	 	10,000
	 	 	 
	
        CHUANG,HIS-MEI

         
	 	40,000
	 	 	 
	
        CHUANG,CHIH-WEI

         
	 	10,000
	 	 	 
	CHUANG,CHIH-CHIN	 	15,000

 

    	58

    	 

    

 

	 	 	 
	
        CHUANG HUANG,CHIN-FENG

         
	 	10,000
	 	 	 
	
        HSU,FANG-HUA

         
	 	25,000
	 	 	 
	
        HSU LIN,TSAI-HSIA

         
	 	10,000
	 	 	 
	
        HSU,CHU-HSIA

         
	 	10,000
	 	 	 
	
        HSU,CHAO-YU

         
	 	10,000
	 	 	 
	
        HSU,CHING-SUNG

         
	 	15,000
	 	 	 
	
        HSU,CHING-LANG

         
	 	30,000
	 	 	 
	
        HSU,JUNG-CHUAN

         
	 	136,500
	 	 	 
	
        HSU,CHUNG-HSING

         
	 	10,000
	 	 	 
	KUO,JU-HSUAN	 	10,000

 

    	59

    	 

    

 

	 	 	 
	
        KUO,HSIU-MEI

         
	 	48,000
	 	 	 
	
        KUO,MING-FENG

         
	 	30,000
	 	 	 
	
        KUO,LIN-CHIN

         
	 	10,000
	 	 	 
	
        KUO,CHIEN-WEN

         
	 	5,000
	 	 	 
	
        KUO,CHUN-I

         
	 	15,000
	 	 	 
	
        CHEN,WEN-HSIU

         
	 	10,000
	 	 	 
	
        CHEN,WEN-FU

         
	 	30,000
	 	 	 
	
        CHEN,SHIH-KAI

         
	 	30,000
	 	 	 
	
        CHEN,YUNG-FANG

         
	 	30,000
	 	 	 
	
        CHEN,YU-FEN

         
	 	10,000
	 	 	 
	CHEN,YU-MEI	 	10,000

 

    	60

    	 

    

 

	 	 	 
	
        CHEN,CHIA-I

         
	 	30,000
	 	 	 
	
        CHEN,CHIH-MING

         
	 	15,000
	 	 	 
	
        CHEN,CHIH-JUNG

         
	 	10,000
	 	 	 
	
        CHEN,PEI-JU

         
	 	20,000
	 	 	 
	
        CHEN,LI-HSIANG

         
	 	30,000
	 	 	 
	
        CHEN,TUNG-LIANG

         
	 	10,000
	 	 	 
	
        CHEN,CHUN-HUNG

         
	 	10,000
	 	 	 
	
        CHEN,JUN-WEI

         
	 	7,000
	 	 	 
	
        CHEN,CHUN-HUI

         
	 	5,000
	 	 	 
	CHEN,YEN-HSIEN	 	20,000

 

    	61

    	 

    

 

	 	 	 
	
        CHEN,CHUN-HSU

         
	 	5,000
	 	 	 
	
        CHEN,CHIU-HSIANG (R)

         
	 	10,000
	 	 	 
	
        CHEN,CHIU-HSIANG (Q)

         
	 	10,000
	 	 	 
	
        CHEN,MEI-CHEN

         
	 	10,000
	 	 	 
	
        CHEN,MEI-KUEI

         
	 	470,000
	 	 	 
	
        CHEN,FONG-CHUN

         
	 	30,000
	 	 	 
	
        CHEN,JUNG-TSUI

         
	 	10,000
	 	 	 
	
        CHEN,CHEN-MING

         
	 	5,000
	 	 	 
	
        CHEN,SU-CHIN

         
	 	20,000
	 	 	 
	
        CHEN,SU-O

         
	 	10,000
	 	 	 
	CHEN,SU-MIN	 	20,000

 

    	62

    	 

    

 

	 	 	 
	
        CHEN,KUO-LIANG

         
	 	10,000
	 	 	 
	
        CHEN,CHING-TSAN

         
	 	20,000
	 	 	 
	
        CHEN,KAI-DI

         
	 	5,000
	 	 	 
	
        CHEN,CHING-JEN

         
	 	10,000
	 	 	 
	
        CHEN,SEN-YUNG

         
	 	10,000
	 	 	 
	
        CHEN,ZIH-YUN

         
	 	10,000
	 	 	 
	
        CHEN MAI,CHUN-CHU

         
	 	10,000
	 	 	 
	
        CHEN,CHIN-HSING

         
	 	30,000
	 	 	 
	
        CHEN HUANG,SU-CHEN

         
	 	10,000
	 	 	 
	CHEN,JUI-HSIA	 	10,000

 

    	63

    	 

    

 

	 	 	 
	
        CHEN,NUNG-CHEN

         
	 	20,000
	 	 	 
	
        CHEN,JUNG-CHUN

         
	 	10,000
	 	 	 
	
        CHEN,PI-YU

         
	 	10,000
	 	 	 
	
        CHEN,PI-TAN

         
	 	10,000
	 	 	 
	
        CHEN,PI-JUI

         
	 	10,000
	 	 	 
	
        CHEN,FENG-YU

         
	 	30,000
	 	 	 
	
        CHEN,HONG-YOIOAN

         
	 	20,000
	 	 	 
	
        CHEN,LI-HAW

         
	 	50,000
	 	 	 
	
        FU,CHIH-HSIUNG

         
	 	1,000
	 	 	 
	
        PENG,YEN-JU

         
	 	10,000
	 	 	 
	PENG,JUI-MEI	 	107,500

 

    	64

    	 

    

 

	 	 	 
	
        PENG,YIN-CHEN

         
	 	25,000
	 	 	 
	
        PENG,HSIEN-CHUNG

         
	 	10,000
	 	 	 
	
        PENG,YING-TIEN

         
	 	10,000
	 	 	 
	
        TSENG,YU-YEN

         
	 	10,000
	 	 	 
	
        TSENG,HSIU-LI

         
	 	20,000
	 	 	 
	
        TSENG,YI-CHING

         
	 	15,000
	 	 	 
	
        TSENG,HSIN-CHIANG

         
	 	5,000
	 	 	 
	
        TSENG,HSIN-KAI

         
	 	10,000
	 	 	 
	
        TSENG,YOU-JHEN

         
	 	20,000
	 	 	 
	TSENG,CHIU-CHIN	 	50,000

 

    	65

    	 

    

 

	 	 	 
	
        TSENG,YU-CHUAN

         
	 	29,000
	 	 	 
	
        TSENG KUO,YU-YEN

         
	 	50,000
	 	 	 
	
        CHENG,FENG-JEN

         
	 	10,000
	 	 	 
	
        FENG,YUEH-O

         
	 	5,000
	 	 	 
	
        HUANG,YU

         
	 	5,000
	 	 	 
	
        HUANG,HUA-HUA

         
	 	44,000
	 	 	 
	
        HWANG,WEN-CHENG

         
	 	20,000
	 	 	 
	
        HUANG,TSAI-WEN

         
	 	100,000
	 	 	 
	
        HUANG,TUNG-HSIN

         
	 	5,000
	 	 	 
	
        HUANG,HSIU-CHEN

         
	 	5,000
	 	 	 
	HUANG,TSUNG-KUEI	 	20,000

 

    	66

    	 

    

 

	 	 	 
	
        HUANG,CHIN-TIEN

         
	 	10,000
	 	 	 
	
        HUANG,CHEN-YU

         
	 	10,000
	 	 	 
	
        HUANG,TU-FEN

         
	 	10,000
	 	 	 
	
        HUANG,FONG-CHANG

         
	 	70,000
	 	 	 
	
        HUANG,CHUN-WEI

         
	 	7,000
	 	 	 
	
        HUANG,KUO-YING

         
	 	20,000
	 	 	 
	
        HUANG,CHUONG-CHING

         
	 	10,000
	 	 	 
	
        HUANG,SUNG-AN

         
	 	5,000
	 	 	 
	
        HUANG,SHU-CHEN

         
	 	10,000
	 	 	 
	HUANG,SHU-TUAN	 	30,000

 

    	67

    	 

    

 

	 	 	 
	
        HUANG,CHIAO-TING

         
	 	10,000
	 	 	 
	
        HUANG,HUI-CHUAN

         
	 	20,000
	 	 	 
	
        HUANG,HUA-HSUAN

         
	 	5,000
	 	 	 
	
        HUANG,HSIN-TUNG

         
	 	5,000
	 	 	 
	
        HUANG,HSIN-LIN

         
	 	23,500
	 	 	 
	
        HUANG,SHENG-HUNG

         
	 	10,000
	 	 	 
	
        HUANG,TING-SHENG

         
	 	10,000
	 	 	 
	
        HUANG,CHIA-HUI

         
	 	213,000
	 	 	 
	
        HUANG,JUNG-AN

         
	 	100,000
	 	 	 
	
        HUANG,FU-WEN

         
	 	10,000
	 	 	 
	HUANG,FENG-CHIAO	 	1,000

 

    	68

    	 

    

 

	 	 	 
	
        HUANG,HUI-FEN

         
	 	5,000
	 	 	 
	
        HUANG,CHING-JUI

         
	 	737,000
	 	 	 
	HUANG,SHU-WANG	 	22,000

 

	 	 	 
	
        HUANG,CHING-FEN

         
	 	50,000
	 	 	 
	
        HUANG,HUI-CHIA

         
	 	20,000
	 	 	 
	
        HUANG,PAO-TE

         
	 	40,000
	 	 	 
	
        YANG,SHIH-AN

         
	 	15,000
	 	 	 
	
        YANG,YU-FENG

         
	 	5,000
	 	 	 
	YANG,CHIN-YU	 	10,000

 

    	69

    	 

    

 

	 	 	 
	
        YANG,MEI-HSIU

         
	 	5,000
	 	 	 
	
        YANG,MEI-HUI

         
	 	70,000
	 	 	 
	
        YANG,CHIA-JUNG

         
	 	10,000
	 	 	 
	
        YANG,CHYAU-JIUN

         
	 	10,000
	 	 	 
	
        YANG,HUI-WEN

         
	 	20,000
	 	 	 
	
        YANG,SHIANG-CHEN

         
	 	20,000
	 	 	 
	
        YANG,HAO-HAIANG

         

  
	 	10,000
	YANG,CHIU-FU	 	10,000
	

 	 	 
	
         

         
	 	 
	YANG,YI-CHUNG	 	5,000

 

    	70

    	 

    

 

	 	 	 
	
        YANG,YIN-TANG

         
	 	40,000
	 	 	 
	
        LIANG,HSIU-CHU

         
	 	6,000
	 	 	 
	
        WAN,JUNG-JUNG

         
	 	100,000
	 	 	 
	
        WAHN,RURNG-SHUEEI

         
	 	20,000
	 	 	 
	
        YEH,JIH-CHENG

         
	 	10,000
	 	 	 
	
        YEH,PING-HIS

         
	 	5,000
	 	 	 
	
        YEH,MENG-TUNG

         
	 	20,000
	 	 	 
	YEH,KUAN-YU	 	10,000

 

    	71

    	 

    

 

	 	 	 
	
        YEH,HSUAN-CHEN

         
	 	10,000
	 	 	 
	
        YEH,LIN-LIN

         
	 	10,000
	 	 	 
	
        CHAN,SHIAO-HUA

         
	 	20,000
	 	 	 
	
        CHAN,PIN-YU

         
	 	13,000
	 	 	 
	
        CHAN,PING-HAN

         
	 	13,000
	 	 	 
	
        CHAN,CHIN-TSAI

         
	 	28,000
	 	 	 
	
        CHAN,YI-LIN

         
	 	9,000
	 	 	 
	
        LIAO,HSIU-HUA

         
	 	10,000
	 	 	 
	LIAO,CHIEN-CHIH	 	10,000

 

    	72

    	 

    

 

	 	 	 
	
        LIAO,TSAI-CHIN

         
	 	10,000
	 	 	 
	
        PU,CHUN-YAO

         
	 	10,000
	 	 	 
	
        PU TSENG,LI-JUNG

         
	 	10,000
	 	 	 
	
        PU,YI-HSIUNG

         
	 	10,000
	 	 	 
	
        LIU,PANG-HSUAN

         
	 	10,000
	 	 	 
	
        LIU,MING-CHEN

         
	 	5,000
	 	 	 
	
        LIU,KIN-LI

         
	 	10,000
	 	 	 
	LIU,CHIN-HO	 	10,000

 

    	73

    	 

    

 

	 	 	 
	
        LIU,HSIN-CHANG

         
	 	10,000
	 	 	 
	
        LIU,PING-HUI

         
	 	10,000
	 	 	 
	
        LIU,MEI-YING

         
	 	10,000
	 	 	 
	
        LIU,TSAI-CHOU

         
	 	10,000
	 	 	 
	
        LIU,PI-CHEN

         
	 	10,000
	 	 	 
	
        LIU,LI-CHEN

         
	 	20,000
	 	 	 
	
        OU,HSIU-LIH

         
	 	15,000
	 	 	 
	
        PAN,I-JOU

         
	 	10,000
	 	 	 
	TSAI,TZU-YU	 	10,000

 

    	74

    	 

    

 

	 	 	 
	
        TSAI,TIEN-CHENG

         
	 	20,000
	 	 	 
	
        TSAI,YUEH-CHIN

         
	 	414,500
	 	 	 
	
        TSAI,PEI-CHI

         
	 	20,000
	 	 	 
	
        TSAI,KUN-LIN

         
	 	200,000
	 	 	 
	
        TSAI,CHIN-HUA

         
	 	35,000
	 	 	 
	
        TSAI,CHUN-FENG

         
	 	15,000
	 	 	 
	
        TSAI,HUANG-CHUAN

         
	 	5,000
	 	 	 
	TSAI,MEI-YU	 	30,000

 

    	75

    	 

    

 

	 	 	 
	
        TSAI,TSUNG-CHIH

         
	 	20,000
	 	 	 
	
        CHENG,YOU-WAN

         
	 	40,000
	 	 	 
	
        CHENG,CHENG-HSIANG

         
	 	10,000
	 	 	 
	
        CHENG,AN-FEN

         
	 	10,000
	 	 	 
	
        CHENG,HSIU-CHIN

         
	 	20,000
	 	 	 
	
        CHENG,PING-SUEI

         
	 	10,000
	 	 	 
	
        CHENG,HSIANG-CHAO

         
	 	80,000
	 	 	 
	
        CHENG,CHAO-YUAN

         
	 	10,000
	 	 	 
	CHENG,HUAN-TSAI	 	10,000

 

    	76

    	 

    

 

	 	 	 
	
        LU,CHI-LIANG

         
	 	10,000
	 	 	 
	
        LU,MENG-CHU

         
	 	10,000
	 	 	 
	
        LU,CHENG-CHIH

         
	 	5,000
	 	 	 
	
        LU,CHIN-MU

         
	 	30,000
	 	 	 
	
        HSIAO,SHIOU-SHUO

         
	 	10,000
	 	 	 
	
        HSIAO,CHIA-PEI

         
	 	5,000
	 	 	 
	
        HSIAO,YU-YING

         
	 	10,000
	 	 	 
	HSIAO,SHU-YUN	 	5,000

 

    	77

    	 

    

 

	 	 	 
	
        LAI,SHIH-TI

         
	 	10,000
	 	 	 
	
        LAI,TSAI-JEN

         
	 	10,000
	 	 	 
	
        LAI,TSAI-HENG

 

         
	 	43,000
	
        LAI,YUN-LI

         
	 	5,000
	 	 	 
	
        LAI,CHEN-CHIN

         
	 	10,000
	 	 	 
	
        LAI,YU-HSIN

         
	 	10,000
	 	 	 
	
        TAI,SHIH-YAO

         
	 	20,000
	 	 	 
	
        TAI,TING-KUN

         
	 	10,000
	 	 	 
	HSIEH,KUANG-CHI	 	10,000

 

    	78

    	 

    

 

	 	 	 
	
        HSIEN,SHU-PING

         
	 	40,000
	 	 	 
	
        HSIEH,SU-HUI

         
	 	5,000
	 	 	 
	
        SHIEN,GUAN-JONG

         
	 	10,000
	 	 	 
	
        CHIEN,SHU-YEN

         
	 	10,000
	 	 	 
	
        CHIEN,KUN-YUAN

 

         
	 	20,000
	
        LAN,YI-JEN

         
	 	10,000
	 	 	 
	
        CHUEH,KUN-MING

         
	 	2,000
	 	 	 
	
        YEN,HSIU-YU

         
	 	40,000
	 	 	 
	YEN,MING-LI	 	5,000

 

    	79

    	 

    

 

	 	 	 
	
        YEN,YU-HSIN

         
	 	10,000
	 	 	 
	
        YEN,YU-TUNG

         
	 	40,000
	 	 	 
	
        YEN,FONG-TING

         
	 	98,000
	 	 	 
	
        WEI,CHAO-HSIUNG

         
	 	10,000
	 	 	 
	
        WEI,KUO-FONG

         
	 	10,000
	 	 	 
	
        WEI,TZU-TE

 

         
	 	10,000
	
        LO,CHENG-SHUI

         
	 	10,000
	 	 	 
	LO,SHU-ER	 	10,000

 

    	80

    	 

    

 

	 	 	 
	
        SU,LIANG-KUEI

         
	 	5,000
	 	 	 
	
        SU,CHUN-SHUO

         
	 	10,000
	 	 	 
	
        SU,JUN-HONG

         
	 	10,000
	 	 	 
	
        SU,MEI-FENG

         
	 	171,500
	 	 	 
	
        SU,HSUEH-MAN

         
	 	30,000
	 	 	 
	
        SU,SHUN-CHING

         
	 	30,000
	 	 	 
	
        SHU WEN,CHUN-YING

         
	 	10,000
	 	 	 
	
        SU,CHIN-FONG

 

         
	 	80,000
	LUAN,SHEN-CHAO	 	20,000

 

    	81

    	 

    

 

	 	 	 
	CHIEN,CHUN-HAN	 	50,000

 

    	82

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00237-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00237-of-00352.parquet"}]]