Document:

English Translation of Business Operation Agreement

 Exhibit 10.8 
 English Translation 
 Business Operation Agreement 

Among 

Shanghai Shengran Information Technology Co., Ltd. 
 Shanghai Taomee Network Technology Co., Ltd. 
 And 

Zeng Liqing, Wang Bin, Wang Haibing, Cheng Yunpeng, Wei Zhen 

and Feng Yuliang 
 December 31, 2009, Shanghai 

  
 1 

 Business Operation Agreement 
 THIS BUSINESS OPERATION AGREEMENT (“this Agreement”) was entered into by and among the following parties (the “Parties”) in Shanghai, PRC on December 31, 2009: 

 

	(1)	Shanghai Shengran Information Technology Co., Ltd. (“Shengran”) 

 Address: Room 2201, Building 20, Gem Tower, 487 Tianlin Road, Xuhui District, Shanghai 
  

	(2)	Shanghai Taomee Network Technology Co., Ltd. (“Taomee”) 

 Address: Room 1008 -1009, Building 20, Gem Tower, 487 Tianlin Road, Xuhui District, Shanghai 
  

	(3)	Zeng Liqing, ID card No. 610113197001232130; 

  

	(4)	Wang Haibing, ID card No. 342623198009143416; 

  

	(5)	Wei Zhen, ID card No. 652421197504283170; 

  

	(6)	Cheng Yunpeng, ID card No. 230103197705216813; 

  

	(7)	Wang Bin, ID card No. 510502196504290433; 

  

	(8)	Feng Yuliang, ID card No. 230107196712111551; 

WHEREAS: 
  

	1.	Shengran is a wholly foreign-owned enterprise incorporated in the People’s Republic of China; 

 

	2.	Taomee is a limited liability company incorporated in PRC; 

  

	3.	Shengran has signed an exclusive technical service and market promotion service agreement, an equity interest pledge agreement, an option agreement, a proxy agreement,
a loan agreement and a business operation agreement (hereinafter, the foregoing exclusive technical service and market promotion service agreement, equity interest pledge agreement, option agreement, proxy agreement, loan agreement and business
operation agreement are collectively referred to as “the Original Restructuring Agreements”, and the foregoing business operation agreement is separately referred to as “the Original Business Operation Agreement”) with Taomee as
well as Zeng Liqing, Wang Haibing, Wei Zhen, Cheng Yunpeng and Wang Bin; 

  
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	4.	Wang Haibing, Wei Zhen, Cheng Yunpeng and Wang Bin have signed an equity interest transfer agreement with Feng Yuliang under which Wang Haibing, Wei Zhen, Cheng Yunpeng
and Wang Bin shall transfer to Feng Yuliang the equity interest held by them which in total represents 5.00% of Taomee’s equity interest. Following such equity interest transfer, the shareholders of Taomee are Zeng Liqing, Wang Haibing, Wei
Zhen, Cheng Yunpeng, Wang Bin and Feng Yuliang (the “Shareholders”), and their respective shareholding percentage are as follows: 

  

	5.	

  

									
	 Name
	  	Amount of Contribution (RMB)	 	  	Shareholding Percentage	 
	 Wang Haibing
	  	 	2,375,000	  	  	 	23.75	% 
	 Cheng Yunpeng
	  	 	1,575,000	  	  	 	15.75	% 
	 Wei Zhen
	  	 	1,737,500	  	  	 	17.375	% 
	 Wang Bin
	  	 	812,500	  	  	 	8.125	% 
	 Zeng Liqing
	  	 	3,000,000	  	  	 	30.00	% 
	 Feng Yuliang
	  	 	500,000	  	  	 	5.00	% 
		  	 	 	 	  	 	 	 
	 Total
	  	 	10,000,000	  	  	 	100	% 
		  	 	 	 	  	 	 	 

  

	6.	Shengran has established business relations with Taomee as well as with Zeng Liqing, Wang Haibing, Wei Zhen, Cheng Yunpeng and Wang Bin by signing the loan agreement,
and after the equity interest transfer, Shengran has also established business relations with Taomee as well as with the Shareholders by re-signing the exclusive technical service and market promotion service agreement, equity interest pledge
agreement, option agreement, proxy agreement (the foregoing loan agreement and the re-signed exclusive technical service and market promotion service agreement, equity interest pledge agreement, option agreement, proxy agreement are collectively
referred to as “the New Restructuring Agreements”); since Taomee shall pay various sums to Shengran under such agreements, Taomee’s daily operating activities will be of material influence on its ability to pay corresponding sums to
Shengran; 

 NOW, THEREFORE, by adhering to the principle of equality and mutual benefit, the Parties hereto agree as
follows through friendly negotiation for mutual observance: 
 1. Non-action Obligation 

In order to ensure Taomee’s complete performance of the New Restructuring Agreements signed with Shengran, the Shareholders hereby acknowledge and
agree that, except with the prior written consent of Shengran or other party designated by Shengran, Taomee will not conduct any transaction that may materially affect corporate assets, business, personnel, obligations, rights or company operations
that have been confirmed by Shengran, including but not limited to the following: 
 1.1 to carry out any activity beyond the normal business
scope of the company; 

  
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 1.2 to borrow money or to incur debts from any third party other than Shengran; 

1.3 to change or remove any director of the company or replacing any senior management of the company, including but not limited to the general manager,
deputy general managers, financial supervisor, technical supervisor, etc. 
 1.4 to sell to or to acquire from any third party other than
Shengran any assets or right, including but not limited to any intellectual property right; 
 1.5 to provide security with its assets or rights
or otherwise to any third party other than Shengran or to create any other encumbrance on the company or the assets of the company; 
 1.6 to
modify Articles of Association or to change the business scope of the company; 
 1.7 to change the normal business processes of the company or
to modify any material internal rules and regulations of the company, including without limitation to, financial management system, rules of procedure of the board of directors/shareholders’ meeting, operation rules of the general manager,
etc.; 
 1.8 to transfer any of its rights or obligations hereunder to any third party other than Shengran. 

2. Operating Management and Personnel Arrangement 
 2.1 Taomee and the Shareholders hereby agree to act according to the suggestions offered from time to time by Shengran regarding the appointment and dismissal of the employees, the daily operation and
management as well as the financial management system and other matters of the company. 
 2.2 Taomee and the Shareholders hereby agree that,
the Shareholders will appoint the candidates as designated by Shengran to be the Shareholders’ directors of Taomee in accordance with the procedures specified in applicable laws and regulations and the Articles of Association of the company,
will ensure that the chairman of the board of directors will be the director recommended by Shengran, and will further ensure that the person designated by Shengran will serve as the general manager, financial supervisor and other senior management
of Taomee. 
 2.3 In case any director or senior management member designated by Shengran under Article 2.2 leaves Shengran, whether leaving
his/her office voluntarily or leaving upon dismissal by Shengran, such director or senior management member will be disqualified to hold any position in Taomee at the same time. In such case, the Shareholders will assign other persons otherwise
designated by Shengran to hold such position according to the provisions of Article 2.2. 
 2.4 For the purpose of Article 2.3, the Shareholders
will adopt all necessary internal and external procedures to lawfully complete the above dismissal and appointment processes in accordance with the provisions of applicable laws, the Articles of Association and this Agreement. 

  
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 2.5 The Shareholders hereby agree that, at the same time as entering into this Agreement, they will sign a
power of attorney according to which the Shareholders shall authorize Shengran or the persons designated by Shengran to exercise the shareholders’ rights on their behalf and exercise all shareholder’s voting rights on the
shareholders’ meeting of Taomee. The Shareholders further agree to change the authorized persons designated in such power of attorney at any time upon request of Shengran. 
 3. Other Agreements 
 3.1 In case any of New Restructuring Agreements between Shengran and
Taomee is terminated or expires, Shengran shall be entitled to decide whether to terminate all the New Restructuring Agreements between Shengran and Taomee. 
 3.2 Since Shengran has established business relationship with Taomee by signing the New Restructuring Agreements, the daily operating activities of Taomee will be of material influence on its ability to
pay relevant sums to Shengran. Zeng Liqing, Wang Haibing, Wei Zhen, Cheng Yunpeng, Wang Bin and Feng Yuliang agree that, any bonus, dividend distribution or any other proceeds or interest (regardless of the its form) obtained by them from Taomee in
the capacity as shareholders of Taomee shall, upon their realization, be immediately paid or transferred to Shengran unconditionally and without consideration. 
 4. Compensation 
 Unless otherwise provided for herein, if Taomee fails to fully perform or
suspends the performance of its obligations hereunder and fails to cure such failure or suspension within thirty (30) days upon receipt of the notice of the other Party, or any of its representations and warranties is false, Taomee shall be
deemed in breach of this Agreement. 
 In case either Party hereto breaches this Agreement or any of its representations and warranties
hereunder, any non-defaulting Party may give a written notice to the defaulting Party demanding the latter to cure its breach within ten (10) days upon receipt of the notice, take appropriate measures to effectively and timely avoid the
occurrence of the harmful consequences, and continue to perform this Agreement. In case of any damage, the defaulting Party shall compensate the non-defaulting Party in order to ensure that the non-defaulting Party obtains all the interests that it
would have obtained if this Agreement had been properly performed. 
 If, due to either Party’s breach of this Agreement, the other Party
bears any expense, liability or suffers any loss (including but not limited to profit loss of the company), the defaulting Party shall compensate the non-defaulting Party for any such expense, liability or loss (including but not limited to the
interest and attorney fees paid or lost due to such breach). The total amount of the compensation payable by the defaulting Party to the non-defaulting Party shall cover the losses incurred by such breach, and the above-mentioned compensation shall
include the benefits that the non-defaulting Party should have obtained for its performance of this Agreement but may not exceed the reasonable expectations of the Parties hereto. 

  
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 In the event that all the Parties hereto breach this Agreement, the compensation amount payable by each
Party shall be determined according to the extent of their respective breaches. 
 5. Entire Agreement and Modification of this Agreement

 5.1 This Agreement and all the agreements and/or documents referred to or expressly incorporated herein shall constitute the entire
agreement between the Parties with respect to the subject matter of this Agreement, and shall supersede all the prior agreements, contracts, understandings and communications, whether oral or written, between the Parties with respect to the subject
matter of this Agreement. 
 5.2 Any modification to this Agreement shall be effective only upon the execution of a written agreement between
the Parties. Any modification agreement or supplement agreement duly executed by the Parties in connection with this Agreement shall constitute an integral part hereof and shall have the same legal effect as this Agreement. 

6. Governing Law 
 The execution,
validity, performance and interpretation of this Agreement as well as dispute resolution shall be governed by and interpreted in accordance with Chinese laws. 
 7. Dispute Resolution 
 7.1 When any dispute arises among the Parties hereto regarding the
interpretation and performance of the terms hereof, the Parties shall settle such dispute in good faith through negotiation. If such negotiation fails, either Party may submit such dispute to China International Economic and Trade Arbitration
Commission for arbitration in accordance with its arbitration rules then in effect. The arbitration shall take place in Shanghai and shall be conducted in Chinese. The arbitral award shall be final and binding upon the Parties. 

7.2 Notwithstanding the matters in dispute among the Parties, the Parties shall continue to perform their respective obligations in good faith in
accordance with the provisions of this Agreement. 
 8. Effectiveness, Term and Miscellaneous 

8.1 The written consent, suggestions, designation and other decisions that may have material effect on the daily operations of Taomee shall be made by or
under the authorization of the board of directors of Shengran. 
 8.2 This Agreement shall become effective upon execution by the authorized
representatives of the Parties hereto on the date first above written, and the Original Business Operation Agreement shall be terminated immediately upon the effective date of this Agreement. This Agreement shall remain in effect until Shengran is
dissolved pursuant to the laws of the People’s Republic of China or until Shengran prematurely rescinds this Agreement according to Article 8.3 hereof. 

  
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 8.3 Within the term of this Agreement, Taomee and the Shareholders may not prematurely terminate this
Agreement, otherwise they shall pay to Shengran a defaulting penalty in the amount of RMB15 million. Shengran shall have the right to terminate this Agreement at any time with thirty (30) days prior written notice to Taomee and the
Shareholders, without being obliged to assume any liability for breach. 
 8.4 Should any clause and provision of this Agreement be deemed as
illegal or unenforceable by applicable laws, such clause shall be deemed to have been deleted from this Agreement and become void, but other clauses of this Agreement shall remain effective and such void clause shall be deemed as having never been
included ab initio. The Parties shall negotiate to replace the clause deemed to have been deleted with lawful and valid clause that is acceptable to both Parties. 
 8.5 The failure of either Party to exercise any of its rights, powers or privileges hereunder shall not be deemed as a waiver of such rights, powers or privileges. The single or partial exercise of any
right, power or privilege shall not preclude the exercise of any other rights, powers or privileges. 
 IN WITNESS WHEREOF, the Parties have
caused this Agreement to be executed by their respective authorized representatives as of the date first written above. 
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REMAINDER OF THIS PAGE IS INTENTIONALLY LEFT BLANK] 

  
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 SIGNATURE PAGE OF THE BUSINESS OPERATION AGREEMENT 

 

			
	Zeng Liqing
		
	Signature:	 	 /s/ Zeng Liqing

	
	Wang Haibing
		
	Signature:	 	 /s/ Wang Haibing

	
	Wei Zhen
		
	Signature:	 	 /s/ Wei Zhen

	
	Cheng Yunpeng
		
	Signature:	 	 /s/ Cheng Yunpeng

	
	Wang Bin
		
	Signature:	 	 /s/ Wang Bin

	
	Feng Yuliang
		
	Signature:	 	 /s/ Feng Yuliang

Shanghai Shengran Information Technology Co., Ltd. 
  

			
	Signature and seal:	 	 /s/ Zeng Liqing

	Name of signatory: Zeng Liqing

 [seal: Shanghai Shengran Information Technology Co., Ltd.] 
 Shanghai Taomee Network Technology
Co., Ltd. 

			
		
	Signature and seal:	 	 /s/ Zeng Liqing

	Name of signatory: Zeng Liqing

 [seal: Shanghai Taomee Network Technology Co., Ltd.] 

  
 8English Translation of Commercial Cooperation Agreement

 Exhibit 10.9 
 English Translation 
 Commercial Cooperation Agreement 

Party A: Shanghai Shengran Information Technology Co., Ltd. 
 Party B: Shanghai Taomee Network Technology Co., Ltd. 
 WHEREAS: 

 

	1.	Party A, a wholly foreign-owned limited liability company legally registered and operating within the territory of China, mainly engages in computer software
development, design and production, network technology development and design, sales of self-produced products, and providing relevant technical consulting and services. 

 

	2.	Party B, a Chinese-funded limited liability company legally registered and operating within the territory of China, mainly engages in operating online games, owns such
qualifications as value-added telecommunication business operation permit, online culture operation permit, etc., and is entitled to operating online games within the territory of China. 

Party A and Party B, on the basis of equality and freewill, hereby conclude this Agreement in Shanghai for online games development and
operation, etc. 
  

	I.	Definitions 

 “Objects”
refers to the game updates and value-added components (including the game updates and value-added components made by Party A on the basis of Party B’s intellectual properties) placed by Party A on Party B’s platform in accordance with the
provisions herein. 
 “Party B’s platform” refers to the platform operated by Party B for operating the objects.

 “Operating revenues” refers to all the revenues generated by Party B from operating and relating to Party A’s objects,
mainly including point card sales revenues, client CD revenues from Objects, etc. Such revenues shall not be deducted in any way. 
  

	II.	Contents of cooperation 

 Party A will
place the Objects developed thereby on Party B’s game operation platform for operation. Party A will provide routine maintenance, updating, technical support, debugging and other services for the Objects, while Party B will provide resources
(including operation platform server, bandwidth, etc.) and customer services. 

  
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	III.	Technical services and support 

  

	1.	Party B is responsible for all the hardware equipment and broadband resources necessary for operation of the Objects, for installing in agreed regions game servers,
database servers, downloading servers, web servers and other needed servers, for placing such servers in an online web environment suitable for providing services for the Objects, and for installing, debugging and maintenance of needed servers.
Party A is responsible for providing technical support and direction, while Party B is responsible for ensuring the normal and stable operation of the platform. 

 

	2.	Party A shall assist Party B in connecting the Objects with Party B’s website and in finishing relevant modification work so that the version testing, acceptance
and operation of the Objects may be conducted on Party B’s website. 

  

	3.	Party A is responsible for defect remedying, troubleshooting, version revision and upgrading of the Objects and for providing Party B with customization and upgrading
services for the software servers of Objects. Such services include but are not limited to the following contents (Party A’s services do not involve the scope permitted by Party B’s value-added telecommunication business operation permit):

  

	 	(1)	Assisting Party B in preventing hacker attacks and unauthorized modifications or maneuvers against the Objects; 

 

	 	(2)	Correcting loopholes and defects in the Objects; 

  

	 	(3)	Providing all the patches and updating programs for the Objects/products after notifying Party A in advance; 

 

	 	(4)	Providing real-time technical support, including server failure response and system monitoring; 

 

	 	(5)	Guarantee the stability of server operation and notify Party A in advance if any system maintenance may affect the operation of the Objects. 

 

	4.	Party A will provide Party B’s employees with necessary training in the programs and operation of the Objects, including the maintenance and operation of
engineering applications and licensed programs, marketing, customer services and background use. 

  

	IV.	Marketing 

 In order to promote the market
awareness and user recognition of Party A’s Objects, Party A shall provide the following marketing services for the operation of the Objects: 
  

	(1)	Providing and implementing product marketing plans; 

  

	(2)	Providing personnel management and training; 

  

	(3)	Providing necessary media publicizing; 

  

	(4)	Other related marketing services and consulting services provided from time to time at the request of Party B. 

 

	V.	Updating of games 

 Party A will regularly
update the Objects according to the planning and progress schedule by directly updating the versions of the Objects on Party B’s server. For each updating, Party A shall notify Party B in advance. 

  
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	VI.	Troubleshooting 

 Party A shall establish
a stable team to maintain the routine operation of the Objects, correct and provide patches for the technical problems, defects, loopholes, etc. of the Objects arising in routine operation, provide solutions and support services, and direct the
setup of servers. Such services include remote services and on spot services. 
  

	VII.	Customer services 

 Party B is responsible
for customer services and must guarantee the quality of such services. Customer services include but are not limited to the following: 
  

	(1)	Providing high-quality customer services; 

  

	(2)	Feeding back user experiences in a timely manner. Promptly notifying related personnel of Party A when discovering any significant problem in the Objects.

  

	VIII.	Intellectual property rights 

  

	1.	“Intellectual property rights” refers to any following rights that are tangible, intangible, existing or generated during the performance hereof:
(1) worldwide authors’ rights relating to works, including but not limited to copyrights, moral rights, etc; (2) trademark rights, trade name rights or similar rights; (3) rights related to business secrets; (4) patented
inventions, designs and other industrial intellectual property rights; (5) all other intellectual achievements and proprietary rights (including but not limited to moral rights and property rights) generated by law, contract or license; and
(6) all registrations, applications, updates of and the rights to extend the above rights. 

  

	2.	For the websites and/or game names, trademarks, markings, logos, virtual characters, etc. owned by each party, the said party owns the ownerships or related
intellectual property rights. Although both parties cooperate with each other hereunder, neither party shall be regarded as transferring any or all of its above rights to the other party. The provisions herein involving the use of intellectual
property rights owned by any party is the authorization for the other party to use only for the purpose of performing this Agreement. In addition, the use of the above-mentioned intellectual property rights shall not exceed the purpose and scope as
agreed herein. 

  

	3.	Unless Party A provides otherwise in writing, all the intellectual property rights relating to the Objects shall belong to Party A. Party B shall not use any of such
intellectual property rights for any purpose beyond the agreed purpose herein, provided that this does not violate the provisions of any relevant laws, regulations or any other normative documents. 

  
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	IX.	Income distribution 

  

	1.	Considering the fact that Party A plays a leading role in research, development and maintenance of the Objects and that Party A’s technical strength and support
significantly influences the success of the operation of the Objects, Party A and Party B hereby agree that Party A bears the main risks associated with the operation of the Objects and Party B retains a certain proportion of the operating revenues
as the reasonable profit for the cooperation and will pay to Party A the profit less the said reasonable profit. The income distribution shall be calculated using the following formula: 

Party B’s reasonable profit = operating revenues × reasonable operating profit rate Amount paid by Party B to Party A = book
operating profit relating to this Agreement before Party B pays Party A – Party B’s reasonable profit The above-mentioned “reasonable operating profit rate” will be determined by Party A and Party B through negotiation in the
principle of fair trading. A supplementary agreement shall be signed to determine the amount to be paid by Party B to Party A within a certain period of time. 
  

	X.	Party A’s representations and warranties 

  

	1.	Party A is a reputable wholly foreign-funded limited liability company legally established and existing under the law of the People’s Republic of China and has the
legal right to execute this Agreement and perform all of its obligations hereunder. Once executed, this Agreement will become a legal, valid, binding and enforceable legal document for Party A. 

 

	2.	Conflict of interests: Party A’s executing and performing this Agreement or any document relating hereto will not 

 

	 	(1)	Conflict with Party A’s articles of association or any other law, regulations or judgments applicable to Party A; 

 

	 	(2)	Conflict with any of the obligations under any legal documents (e.g. guarantee agreements, commitments, contracts, etc.) signed between Party A and any third parties or
result in any default; 

  

	3.	Infringements and lawsuits: Party A warrants that the services provided thereby hereunder will not infringe on any of the intellectual property rights or any other
rights of any third party. 

  

	XI.	Party B’s representations and warranties 

  

	1.	Party B is a reputable Chinese-funded limited liability company legally established and existing under the law of the People’s Republic of China and has the legal
right to execute this Agreement and perform all of its obligations hereunder. Once executed, this Agreement will become a legal, valid, binding and enforceable legal document for Party B. 

 

	2.	Conflict of interests: Party B’s executing and performing this Agreement or any document relating hereto will not 

 

	 	(1)	Conflict with Party B’s articles of association or any other law, regulations or judgments applicable to Party B; 

 

	 	(2)	Conflict with any of the obligations under any legal documents (e.g. guarantee agreements, commitments, contracts, etc.) signed between Party B and any third parties or
result in any default; 

  
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	XII.	Confidentiality 

  

	1.	Without the prior written consent of the other party, neither party may disclose to any third party (except required by relevant laws, regulations, governmental bodies,
securities exchanges or any other regulatory bodies or disclosing to both parties’ legal, accounting, business and other consultants/counsel and authorized employees) any content herein or the execution and performance hereof or any information
on the other party or any affiliate of the other party gained through execution and performance hereof. 

  

	2.	Each party shall take all necessary measures to keep confidential any and all the confidential information obtained from the other party through cooperation hereunder
so as to prevent such confidential information from being disclosed, used or possessed by unauthorized persons. 

  

	3.	The party that receives confidential information (hereinafter referred to as the “Receiving Party”) shall not, without prior authorization from the Disclosing
Party or without being permitted hereunder, reproduce or photocopy any or all confidential information from the party that discloses such confidential information (hereinafter referred to as the “Disclosing Party”). In addition, after the
termination hereof, the Receiving Party shall return all such confidential information to the Disclosing Party or, after obtaining written consent from the Disclosing Party, destroy such confidential information. 

 

	4.	The Receiving Party shall only use confidential information within the scope specified herein. In addition, the Receiving Party has caused or will cause its employees
and consultants that have access to such confidential information to sign confidentiality agreements with contents similar to those hereof, and at the same time the Disclosing Party has the right to hold the Receiving Party liable for any
unauthorized disclosure made by any employee or consultant of the Receiving Party. 

  

	5.	If any part hereof is regarded as invalid or unenforceable, it will not affect the validity of the confidentiality provisions herein. 

 

	6.	Confidentiality provisions herein will survive the termination hereof until confidential information enters the public domains (not due to any disclosure by the
Receiving Party). 

  

	7.	For the purposes of this Agreement, “confidential information” refers to the opinions, plans and information obtained by one party from the other party in
various tangible or intangible storage forms as a result of executing and performing this Agreement, including but not limited to: technical or business information, slogans, copyrighted objects, computer software, source codes, object codes,
techniques, technical know-how, data, marketing plans, abstracts, reports, mails, etc, but excluding (a) the information that one party proves it possessed through legal approaches before the other party discloses relevant information;
(b) information publicly known not due to any illegal action; (c) information publicly known not due to any default by any party; (d) the information subsequently and legally obtained by one party from other sources not subject to any
confidentiality restrictions; (e) the information ordered for disclosure by any court or any governmental body that owns mandatory summoning power (however, this party shall in advance notify the other party of such order so that the other
party has the opportunity to raise objections or take other feasible actions). 

  
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	XIII.	Force majeure 

  

	1.	For the purposes of this Agreement, “force majeure” refers to hacker attacks, earthquakes, fires, floods, wars, governmental actions, accidents or other
events which cannot be controlled or foreseen by any party hereto. 

  

	2.	If any party is rendered impossible to perform this Agreement due to any force majeure event, this party shall within 10 days notify the other party of its inability to
perform this Agreement and provide relevant description and proof. This Agreement will be rescinded after both parties confirm the force majeure event and the fact that this Agreement cannot be performed. 

 

	XIV.	Settlement of disputes and governing law 

  

	1.	The conclusion, effectiveness, interpretation, performance, modification and termination of this Agreement and settlement of disputes hereunder shall be governed by the
law of the People’s Republic of China. 

  

	2.	Any dispute arising out of interpreting or performing this Agreement shall be settled by both parties through friendly negotiation. In case negotiation fails to solve
the dispute within 30 days after one party gives the other party a written notice proposing negotiation, either party may submit it to China International Economic and Trade Arbitration Commission Shanghai Sub-commission for arbitration.

  

	3.	If any dispute arises out of interpreting or performing this Agreement or if any dispute is under negotiation or arbitration, each shall continue to exercise its other
rights hereunder and perform its other obligations hereunder, except the disputed issues. 

  

	XV.	Effectiveness and termination 

  

	1.	This Agreement will take effect on the day when signed by the authorized representatives and affixed with the company seals of both parties. The term of this Agreement
is three years, beginning on January 1, 2010 and ending on December 31, 2012. 

  

	2.	This Agreement will be terminated if 

 (1) Both parties agree to rescind this Agreement; 
 (2) During the process of
performing this Agreement, one party materially breaches any relevant provisions herein, which materially affects the content of cooperation, and fails to cure within 30 days after the delivery of non-breaching party’s written notice, or the
correction fails to change the material impact on the content of cooperation, thus making it impossible to achieve the purpose of this Agreement. The non-breaching party may unilaterally terminates this Agreement according to the provisions herein;

 (3) This Agreement cannot be performed due to any force majeure event; 

(4) One party hereto is bankrupt, dissolved, liquidated or becomes the subject of bankruptcy, restructuring, dissolution, liquidation or
is faced with similar lawsuits, making it impossible to perform this Agreement. 

  
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	3.	After termination hereof, both parties shall still perform their respective confidentiality obligations hereunder. 

 

	XVI.	Miscellaneous 

  

	1.	For any issue not covered herein, a supplementary agreement may be signed by both parties through negotiation. Such supplementary agreement will have the same legal
force as this Agreement. 

  

	2.	This Agreement has two counterparts, one for each of Party A and Party B. 

 [THE REMAINDER OF THIS PAGE IS INTENTIONALLY LEFT BLANK] 

  
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 [SIGNATURE PAGE OF THIS COMMERCIAL COOPERATION AGREEMENT BETWEEN SHANGHAI SHENGRAN INFORMATION TECHNOLOGY
CO., LTD. AND SHANGHAI TAOMEE NETWORK TECHNOLOGY CO., LTD.] 
  

	
	Party A: Shanghai Shengran Information Technology Co., Ltd.
	[seal: Shanghai Shengran Information Technology Co., Ltd.]
	Legal or authorized representative: /s/ Wang Haibing

  

	
	Party B: Shanghai Taomee Network Technology Co., Ltd.
	[seal: Shanghai Taomee Network Technology Co., Ltd.]
	Legal or authorized representative: /s/ Wang Haibing

  
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