Document:

Business
Operations Agreement

      

      THIS BUSINESS OPERATIONS AGREEMENT
(this “Agreement”) is entered into
and among the following parties (the “Parties”) in Jinjiang, Fujian
Province, the People’s Republic of China (the “PRC”) on 18 November,
2010:

      

      
        Party
A:

      

      

      
        AILIBAO
(FUJIAN) MARKETING MANAGEMENT CO.,LTD

      

      
        	
                Address: 

              	
                Floor
      2, Building 1, Kaiyuan Industrial Zone
No.118,

              

      

      Jiangtou
Village, Chendai Town, Jinjiang City

      Legal
Representative: Lam Mei Ying

      

      Party
B:

      

      Fujian
Jinjiang Chendai Ailibao Shoes & Clothes Co., Ltd

      
        	
                Address: 

              	
                Jiangtou
      village, Chendai town, Jinjiang, Fujian
province

              

      

      Legal
Representative: Ding Baojian

      

      Party
C:

      

      
        Ding
Baojian

      

      
        ID
Number: 35058219650824574

      

      
        
          	
                  Address:

                	
                  East
      Kaituo Road No.9, Jiangtou village, Chendai Town, Jinjiang City, Fujian
      Province

                

        

      

      

      
        Ding
Baofu

      

      
        ID
Number: 350582721015053

      

      
        
          	
                  Address:

                	
                  Dongmei
      No.34, Jiangtou village, Chendai Town, Jinjiang City, Fujian
      Province

                

        

      

      

      
        Ding
Changming

      

      
        ID
Number: 350582197805140531

      

      
        
          	
                  Address: 

                	
                  East
      Kaituo Road No.9, Jiangtou village, Chendai Town, Jinjiang City, Fujian
      Province

                

        

      

      
        
           

        

        
          1

          
            

          

        

        
           

        

      

      WHEREAS:

      

      
        	
                1.

              	
                Party
      A is a wholly foreign-owned enterprise duly incorporated and existing in
      the PRC.

              

      

      

      
        	
                2.

              	
                Party
      B is a limited liability company registered in the
  PRC.

              

      

      

      
        	
                3.

              	
                A
      business relationship has been established between Party A and Party B by
      entering into Exclusive Business and Consulting Services Agreement and so
      on, pursuant to which Party B shall make various kinds of payments to
      Party A such that the daily operation of Party B will have a material
      impact on its payment capacity to Party
A.

              

      

      

      
        	
                4.

              	
                Members
      of Party C are directly interested in Party B: Ding Baojian owns 33.34%
      equity interest in Party B, Ding Baofu owns 33.33% and Ding Changming owns
      33.33%.

              

      

      

      The
Parties, through friendly negotiation in the principles of equality and mutual
benefits, hereby agree as follows:

      

      
        	
                1.

              	
                Non-action
      Obligation

              

      

      

      In order
to ensure Party B’s performance of the agreements between Party A and Party B
and all of its obligations against Party A, Party C hereby jointly acknowledge
and agree that unless otherwise agreed by Party A or other parties designated by
Party A in written form, Party B will not conduct any transaction which may
materially affect its assets, business, personnel, obligations, rights or Party
A’s operation, including but not limited:

      

      
        	
                1.1

              	
                to
      conduct any business beyond the ordinary course of business of Party B or
      conduct business in a way which is inconsistent with the past practices or
      in an abnormal way;

              

      

      

      
        	
                1.2

              	
                to
      borrow money from or incur any debt against any third
    party;

              

      

      

      
        	
                1.3

              	
                to
      change or remove any director or to dismiss and replace any senior
      management;

              

      

      

      
        	
                1.4

              	
                to
      sell to or acquire from any third party or otherwise dispose of any asset
      or right exceeding RMB 100,000;

              

      

      

      
        	
                1.5

              	
                to
      provide guarantee for any third party with its assets or intellectual
      property rights or to provide any other guarantee or to create any other
      encumbrance on its assets;

              

      

      
        
           

        

        
          2

          
            

          

        

        
           

        

      

      
        	
                1.6 

              	
                to
      amend the Articles of Association of the company or to change its business
      scope;

              

      

      

      
        	
                1.7

              	
                to
      change the ordinary business process or modify any material and internal
      regulation and rules of the
company;

              

      

      

      
        	
                1.8

              	
                to
      assign rights and obligations under this Agreement to any third
      party;

              

      

      

      
        	
                1.9

              	
                to
      materially adjust the operation model, marketing strategy, operation
      guidance or client relationship;
and

              

      

      

      
        	
                1.10

              	
                to
      distribute any bonus or dividend in any
form.

              

      

      

      
        	
                2.

              	
                Management
      of Operation and Arrangements of
Personnel

              

      

      

      
        	
                2.1

              	
                Party
      B and Party C hereby agree to accept and strictly implement the proposals
      and directions of Party A, in respect of the employment and dismissal of
      the employees, the daily business management and the financial management,
      and other decision making regarding the business of Party
    B.

              

      

      

      
        	
                2.2

              	
                Party
      B and Party C hereby agree that the Party C shall only appoint candidates
      designated by Party A as the directors of Party B in accordance with the
      procedures under the applicable laws and regulations and the Article of
      Association of Party B, and cause the appointed directors to elect the
      chairman of the board as per the candidate recommended by Party A. Party B
      shall appoint the person designated by Party A as Party B’s General
      Manager, Chief Financial Officer, and other senior
    management.

              

      

      

      
        	
                2.3

              	
                In
      case any of the above officers designated by Party A leaves Party A,
      voluntarily or involuntarily, he/she shall lose the qualification to take
      any position in Party B. In such case, Party B and or C shall dismiss such
      person and appoint another person designated by Party A to serve the
      remaining service term.

              

      

      

      
        	
                2.4

              	
                For
      the purpose of Section 2.3 above, Party C shall take all necessary
      corporate actions internal and external to accomplish the above dismissal
      and engagement in accordance with laws, Articles of Association and this
      Agreement.

              

      

      
        
           

        

        
          3

          
            

          

        

        
           

        

      

      

      
        	
                3.

              	
                Additional
      Covenants

              

      

      

      
        	
                3.1

              	
                In the event that any of the
      agreements between Party A and Party B terminates or expires, Party A
      shall be entitled to terminate all agreements between Party A and Party B
      including but not limited to the Exclusive Business and Consulting
      Services Agreement.

              

      

      

      
        	
                3.2

              	
                Whereas
      the business relationship between Party A and Party B has been established
      through Exclusive Business
      and Consulting Services Agreement and other agreements, the daily
      business operations of Party B will have a material impact on its capacity
      to pay the payables to Party A. Members of Party C agree to irrevocably
      transfer and assign, free of charge, to Party A their rights to receive
      any bonus, dividend or any other proceed or benefit (in whatever forms)
      obtained from Party B as its shareholders at the time when such payables
      occur, and shall provide all the documents or take all actions necessary
      for such transfer as required by Party
A.

              

      

      

      
        	
                4.

              	
                Entire
      Agreement and Amendments

              

      

      

      
        	
                4.1

              	
                This
      Agreement together with all of other agreements and/or documents referred
      or explicitly indicated in this Agreement will constitute the entire
      agreement in respect of the subject matters under this Agreement and shall
      supersede all of other prior agreements, contracts, understandings and
      communications in oral or written form among all Parties hereto in
      relation to this matters.

              

      

      

      
        	
                4.2

              	
                Any
      amendment or supplement to this Agreement shall take effect only after it
      is duly executed by all of the Parties. The amendment and supplement duly
      executed by each Party shall be integrate part of this Agreement and shall
      be equally authentic with this
Agreement.

              

      

      

      
        	
                5.

              	
                Governing
      Law

              

      

      

      The
execution, validly, interpretation and the resolution of disputes of this
Agreement shall be governed by and construed in accordance with the laws of the
PRC.

      

      
        	
                6.

              	
                Dispute
      Resolution

              

      

      

      
        	
                6.1

              	
                The
      Parties shall strive to settle any dispute arising from the interpretation
      or performance of this Agreement through friendly consultation. In case no
      settlement can be resolved through such consultation, either Party may
      submit such dispute to Xiamen Arbitration Commission for arbitration in
      accordance with its then-current and effective arbitration rules. The
      arbitration shall be conducted in Chinese. The arbitration award shall be
      final and binding upon the Parties. This Section shall survive the
      termination or the recession of this
Agreement.

              

      

      
        
           

        

        
          4

          
            

          

        

        
           

        

      

      
        	
                6.2

              	
                Each
      Party shall continue to perform its obligations in good faith in
      accordance with this Agreement except for the matters in
      dispute.

              

      

      

      
        	
                7.

              	
                Notice

              

      

      

      Notices
for the purpose of exercising the rights and performing the obligations
hereunder shall be in writing and be delivered in person, by registered mail,
postage prepaid mail, recognized courier service or by facsimile transmission to
the following address of the relevant Party or Parties set forth
below.

      

      Party
A:

      

      AILIBAO
(FUJIAN) MARKETING MANAGEMENT CO.,LTD

      
        	  	
                Address: 

              	
                Floor
      2, Building 1, Kaiyuan Industrial Zone
No.118,

              

      

      Jiangtou
Village, Chendai Town, Jinjiang City

      
        	  	
                Fax: 

              	
                0595-85192329

              

      

      
        	  	
                Telephone: 

              	
                0595-85196329

              

      

      
        	  	
                Addressee: 

              	
                Lam
      Mei Ying

              

      

      

      Party
B:

      

      
        Fujian
Jinjiang Chendai Ailibao Shoes & Clothes Co., Ltd

      

      
        	  	
                Address:

              	
                Jiangtou
      village, Chendai town, Jinjiang, Fujian
province

              

      

      
        	
                 
      

              	
                Fax:

              	
                0595-85192329

              

      

      
        	  	
                Telephone:

              	
                0595-85196329

              

      

      
        	  	
                Addressee:

              	
                Ding
      Baofu

              

      

      

      
        Party
C:

      

      

      
        Ding
Baojian

      

      
        	
                 
      

              	
                Address:

              	
                East
      Kaituo Road No.9, Jiangtou village, Chendai Town, Jinjiang City, Fujian
      Province

              

      

      
        	
                 
      

              	
                Fax:

              	
                0595-85192329

              

      

      
        	
                 
      

              	
                Telephone:

              	
                0595-85196329

              

      

      
        
           

        

        
          5

          
            

          

        

        
           

        

      

      

      
        Ding
Baofu

      

      
        	
                 
      

              	
                Address:

              	
                Dongmei
      No.34, Jiangtou village, Chendai Town, Jinjiang City, Fujian
      Province

              

      

      
        	
                 
      

              	
                Fax:

              	
                0595-85192329

              

      

      
        	
                 
      

              	
                Telephone:

              	
                0595-85196329

              

      

      

      
        Ding
Changming

      

      
        	
                 
      

              	
                Address:

              	
                East
      Kaituo Road No.9, Jiangtou village, Chendai Town, Jinjiang City, Fujian
      Province

              

      

      
        	
                 
      

              	
                Fax:

              	
                0595-85192329

              

      

      
        	
                 
      

              	
                Telephone:

              	
                0595-85196329

              

      

      

      
        	
                8.

              	
                Effectiveness,
      Term and Miscellaneous

              

      

      

      
        	
                8.1

              	
                Any
      written consent, suggestion, appointment or other decision which would
      have material impact on Party B’s daily business operations in respect of
      this Agreement shall be approved by the board of directors of Party
      A.

              

      

      

      
        	
                8.2

              	
                This
      Agreement will come into effect upon execution by the duly authorized
      representatives of all Parties and this Agreement shall survive until
      Party A is dissolved according to the laws of the
  PRC.

              

      

      

      
        	
                8.3

              	
                Neither
      Party B nor Party C may terminate this Agreement during the term of this
      Agreement. Party A may terminate this Agreement at any time by issuing a
      thirty (30) days prior written notice to Party B and
  Party.

              

      

      

      
        	
                8.4

              	
                The
      Parties acknowledge that they enter into this Agreement in good faith and
      on the basis of equality and mutual benefit.  In case any
      provision in this Agreement is regarded as illegal or unenforceable under
      any applicable law, it shall be deemed to be excluded from this Agreement
      and be null and void, as if such provision had never been included in this
      Agreement. However, the balance of this Agreement will remain in force and
      this Agreement shall be deemed as without such provisions from the
      beginning. The Parties shall replace the deemed-deleted provisions with
      lawful and valid provisions acceptable to all Parties through amicable
      consultations.

              

      

      
        
           

        

        
          6

          
            

          

        

        
           

        

      

      

      
        	
                8.5

              	
                Any
      non-exercise of any right, power or privilege hereunder shall not be
      deemed as a waiver thereof. Any single or partial exercise of such right,
      power or privilege shall not exclude one Party from exercising any other
      right, power or privilege.

              

      

      

      
        	
                8.6

              	
                This
      Agreement shall be in made in English, with five (5)
      originals.

              

      

      

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

      
        
           

        

        
          7

          
            

          

        

        
           

        

      

      [Signature
Page to the Business Operation Agreement]

      

      Party
A:

      

      AILIBAO
(FUJIAN) MARKETING MANAGEMENT CO.,LTD

      

      
        
          
            
              	
                      Authorized
      Representative:

                    	
                      /s/ LAM Mei Ying (林美英)

                    	 
      

            

          

        

      

      

      Party
B:

      

      Fujian
Jinjiang Chendai Ailibao Shoes & Clothes Co., Ltd

      

      
        
          
            
              	
                      Authorized
      Representative:

                    	
                      /s/ DING Baojian  (丁保健)

                    	 
      

            

          

        

      

      

      Party
C:

      

      Ding
Baojian(丁保健)

      

      
        
          
            	
                    Signature:

                  	
                    /s/ DING Baojian

                  	 
      
	 
      	 
      	 
      
	
                    Ding
      Baofu(丁保福)

                  
	 
      	 
      	 
      
	
                    Signature:

                  	
                    /s/ DING Baofu

                  	 
      
	 
      	 
      	 
      
	
                    Ding
      Changming(丁長明)

                  
	 
      	 
      	 
      
	
                    Signature:

                  	
                    /s/ DING Changming

                  	 
      

          

        

      

       

      
        
           

        

        
          8Share
Pledge Agreement

    

    This
Share Pledge Agreement (this “Agreement”) was entered into
and between the following parties in Jinjiang, Fujian Province, the People’s
Republic of China (the “PRC”) on 18 November,
2010.:

    

    
      Party A (the “Pledgee”):

    

    

    
      AILIBAO
(FUJIAN) MARKETING MANAGEMENT CO.,LTD

    

    
      
        	
                Address: 

              	
                Floor
      2, Building 1, Kaiyuan Industrial Zone
No.118,

              

      

    

    Jiangtou
Village, Chendai Town, Jinjiang City

    
      Legal
Representative: Lam
Meiying

    

    

    
      Party B (the “Pledgors”):

    

    

    
      Ding
Baojian

    

    
      ID
Number: 35058219650824574

    

    
      
        	
                Address:

              	
                East
      Kaituo Road No.9, Jiangtou village, Chendai Town, Jinjiang City, Fujian
      Province

              

      

    

    

    
      Ding
Baofu

    

    
      ID
Number: 350582721015053

    

    
      
        	
                Address:

              	
                Dongmei
      No.34, Jiangtou village, Chendai Town, Jinjiang City, Fujian
      Province

              

      

    

    

    
      Ding
Changming

    

    
      ID
Number: 350582197805140531

    

    
      
        	
                Address: 

              	
                East
      Kaituo Road No.9, Jiangtou village, Chendai Town, Jinjiang City, Fujian
      Province

              

      

    

    

    
      Party
C:

    

    

    Fujian
Jinjiang Chendai Ailibao Shoes & Clothes Co., Ltd

    
      	
              Address: 

            	
              Jiangtou
      village, Chendai town, Jinjiang, Fujian
province

            

    

    Legal
Representative: Ding Baojian

     

    WHEREAS:

    

    
      	
              1.

            	
              The
      Pledgee is a wholly foreign-owned enterprise duly registered and validly
      existing in the PRC.

            

    

     

    
      
         

      

      
        1

        
          

        

      

      
         

      

    

    
      	
              2.

            	
              Party
      C. is a limited liability company duly registered and validly existing in
      the PRC.

            

    

    

    
      	
              3.

            	
              The
      Pledgors are interested in Party C: Ding Baojian owns 33.34% equity
      interest in Party C, Ding Baofu owns 33.33%, Ding Changming owns
      33.33%.

            

    

    

    
      	
              4.

            	
              The
      Pledgee, the Pledgors and Party C have entered into certain Exclusive
      Business Consultation and Services Agreement, Business Operation
      Agreement, Option Agreement and Intellectual Property License Agreement
      dated as of 18 November, 2010.

            

    

    

    
      	
              5.

            	
              In
      order to guarantee that the Pledgee normally collects the fees for
      business consulting and service under Exclusive Business Consulting and
      Services Agreement from Party C owned by the Pledgor, and to ensure the
      performance of Exclusive Business Consulting and Services Agreement,
      Business Operation Agreement, Option Agreement and Intellectual Property
      License Agreement, the Pledgors are willing to severally and jointly
      pledge all their Equity Interests in Party C to the Pledgee as a security
      for the performance of the obligations under the aforesaid agreements. The
      Pledgee shall be Party A.

            

    

    

    THEREFORE,
The Parties, through friendly negotiation in the principles of equality and
mutual benefits, hereby agree the following:

    

    
      	
                1. 

            	
              Definitions

            

    

    

    Unless
otherwise provided in this Agreement, the following terms shall have the
meanings ascribed to it as follows:

    

    
      	
              1.1

            	
              “Pledge”
      has the meaning set out in Section 2
hereunder.

            

    

    

    
      	
              1.2

            	
              “Equity
      Interests” means 100% Equity Interests in Party C legally and jointly held
      by the Pledgors and all of the rights in and interests at present and in
      future based on such Equity
Interests.

            

    

    

    
      	
              1.3

            	
              “Controlling
      Agreements” means Exclusive Business Consultation and Service Agreement,
      Option Agreement, Business Operation Agreement and Intellectual Property
      License Agreement executed by the Pledgee, Party C and other relevant
      parties dated as of 18 November,
2010.

            

    

    

    
      	
              1.4

            	
              “Event
      of Breach” means any event defined in Section 7
  hereunder.

            

    

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    

    
      	
              1.5

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

            

    

    

    
      	
                2.

            	
              Pledge

            

    

    

    
      	
              2.1

            	
              The
      Pledgors agree to pledge all the Equity Interests in Party C to the
      Pledgee as the security for the Pledgee’s rights and interests under the
      Controlling Agreements.

            

    

    

    
      	
              2.2

            	
              The
      Pledge under this Agreement covers all fees (including legal fees), costs
      and losses, interests, liquidated damages, compensations and expenses for
      enforcement of the Pledge to be paid by Party C and/or Pledgors to Pledgee
      under the Controlling Agreements, and the liabilities to be borne by Party
      C and/or Pledgors in case the Contolling
      Agreements become void as a whole or in part due to any
      reason.

            

    

    

    
      	
              2.3

            	
              The
      Pledge of equity under this Agreement refers to the priority of the
      Pledgee to be compensated from the proceeds of the conversion, auction, or
      sale of the Equity Interests pledged by the Pledgors to the
      Pledgee.

            

    

    

    
      	
              2.4

            	
              Unless
      otherwise agreed by Pledgee in writing after the effective date of this
      Agreement, the Pledge under this Agreement may be discharged only when
      Party C and Pledgors have performed all of the obligations under the
      Controlling Agreements subject to the Pledgee’s written consent. If Party
      C or Pledgors have not fully performed all or any part of its obligations
      under the Controlling Agreements upon the expiry of the term stipulated in
      such Controlling Agreements, the Pledgee hereunder will still enjoy the
      rights of pledge until all of such obligations under such agreements are
      fully performed in the forms reasonable and satisfactory to
      Pledgee.

            

    

    

    
      	
                3.

            	
              Effectiveness

            

    

    

    
      	
              3.1

            	
              This
      Agreement shall come into existence as of the date executed or sealed by
      all Parties and come into effect as of the date when the Pledge is
      recorded in the Register of Shareholders of Party
  C.

            

    

    

    
      	
              3.2

            	
              The
      Pledgee is entitled to enforce the Pledge hereunder with reasonable notice
      if Party C fails to pay the consulting and service fees under and in
      accordance with the Business Consulting and Service Agreement and the
      Intellectual Property License Agreement or otherwise fails to fully
      perform the Business Operation Agreement, the Assets Transfer Agreement or
      the Option Agreement.

            

    

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    

    
      	
                4.

            	
              Physical
      Possession Of Documents

            

    

    

    
      	
              4.1

            	
              Pledgors
      and Party C shall (1) register the Pledge in the shareholders' register of
      Party C within 10 business days following the execution of this Agreement,
      and (2) submit an application to the relevant Administration for Industry
      and Commerce (“AIC”) for the registration of the Pledge of the Equity
      Interest contemplated herein within 5 business days following the
      execution of this Agreement. The parties covenant that for the purpose of
      registration of the Pledge, the parties hereto and all other shareholders
      of Party C shall submit to the AIC this Agreement or an equity interest
      pledge contract in the form required by the AIC at the location of Party C
      which shall truly reflect the information of the Pledge hereunder (the
      “AIC Pledge Contract”).  For matters not specified in the AIC Pledge
      Contract, the parties shall be bound by the provisions of this Agreement.
      Pledgors and Party C shall submit all necessary documents and complete all
      necessary procedures, as required by the PRC laws and regulations and the
      relevant AIC, to ensure that the Pledge of the Equity Interest shall be
      registered with the AIC as soon as possible after
  filing.

            

    

    

    
      	
              4.2

            	
              If
      any change occurs to any item of the Pledge and such change needs to be
      registered or filed, the Pledgee and the Pledgors shall register or file
      such changes within five (5) working days as of the day of change, and
      shall submit relevant documents for the registration
    change.

            

    

    

    
      	
              4.3

            	
              During
      the term of the Pledge of the equity, the Pledgors shall instruct Party C
      not to distribute any dividend, bonus, or adopt any profits distribution
      plan. If the Pledgors shall be entitled to any benefit other than dividend
      and profits distribution plan, the Pledgors shall instruct Party C to
      liquidate such payments (after cashing) and directly pay the same into the
      bank account designated by the Pledgee as per the Pledgee’s request.
      Pledgors shall not use money deposited into the bank account without the
      prior written consent of the
Pledgee.

            

    

    

    
      	
              4.4

            	
              During
      the term of the Pledge of the Equity, if any Pledgor subscribes new
      capital contribution or purchases any of the Equity Interests in Party C
      owned by another Pledgor (“Additional Equity”), the
      Additional Equity shall automatically become the Equity Interests pledged
      under this Agreement, and the Pledgor shall complete all the statutory
      procedures necessary for the Pledge of the Additional Equity within ten
      (10) working days after acquiring the Additional Equity. If the Pledgor
      fails to complete the relevant procedures pursuant to this Section 4, the
      Pledgee shall have the right to forthwith enforce the Pledge pursuant to
      Section 8 of this Agreement.

            

    

    

    
      	
                5.

            	
              Representations
      and Warranties of the Pledgors

            

    

    

    The
Pledgors hereby represent and warrant to the Pledgee as follows upon the
execution of this Agreement, and acknowledge that the Pledgee enters into this
Agreement in reliance of such representations and warranties to execute and
perform this Agreement:

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

    
      	
              5.1

            	
              Each
      Pledgor is the legal owner of its Equity Interests hereunder and is
      entitled to create Pledge on such the Equity
  Interests.

            

    

    

    
      	
              5.2

            	
              During
      the term of equity Pledge under Section 2.4 hereof, the Pledgee shall not
      be legally claimed by or duly interfered with any other party when the
      Pledgee enforces or exercise the Pledge at any time in accordance with
      this Agreement.

            

    

    

    
      	
              5.3

            	
              The
      Pledgee is entitled to enforce the Pledge in accordance with relevant
      laws, regulations and this
Agreement.

            

    

    
      	
              5.4

            	
              Each
      Pledgor has all requisite corporate powers and authorities to execute and
      perform this Agreement, the execution and performance of which will not
      constitute breach of any applicable laws and regulations. The authorized
      signatory hereunder has full lawful and valid
    authorization.

            

    

    

    
      	
              5.5

            	
              Except
      for the Pledge under this Agreement, there is no other encumbrance or any
      security interests (including but not limited to pledge) in favor of any
      third party on the Equity Interests under the
  Pledge.

            

    

    

    
      	
              5.6

            	
              There
      is no pending or possible civil, administrative or criminal litigation or
      administrative penalty or arbitration in respect of the Pledge of the
      Equity Interests hereunder at the date of this
  Agreement.

            

    

    

    
      	
              5.7

            	
              There
      are no outstanding taxes, fees or legal proceedings or formalities due and
      unaccomplished with respect to the Equity Interests
    hereunder.

            

    

    

    
      	
              5.8

            	
              Each
      term of this Agreement reflects the true intent of each Pledgor and has
      binding force on it.

            

    

    

    
      	
                6.

            	
              Covenant
      of the Pledgor

            

    

    

    
      	
              6.1

            	
              During
      the term of this Agreement, each Pledgor covenants to the Pledgee that it
      shall:

            

    

    

    
      	
            	
              6.1.1

            	
              without
      prior written consent of the Pledgee, not transfer or assign the Equity
      Interests to, create or permit to create any pledge or security interest,
      which may have an adverse effect on the rights or benefits of the Pledgee,
      in favor of any third party, except for the transfer of the Equity
      Interests to the Pledgee or the person designated by the Pledgee as
      required by the Pledgee;

            

    

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

    

    
      	
               
      

            	
              6.1.2

            	
              comply
      with and implement all applicable laws and regulations with respect to the
      Pledge, present to the Pledgee the notices, orders or suggestions with
      respect to the Pledge issued or made by the competent authority within
      five (5) working days upon receiving such notices, orders or suggestions
      and take actions in accordance with the reasonable instruction of the
      Pledgee;

            

    

    

    
      	
               
      

            	
              6.1.3

            	
              timely
      notify the Pledgee of any event or any received notice which may affect
      the Pledgor’s Equity Interests or any part of its right therein, and any
      event or any received notice which may change the Pledgor’s any obligation
      under this Agreement or affect the Pledgor’s performance of its
      obligations under this Agreement, and take actions in accordance with the
      reasonable instructions of the
Pledgee.

            

    

    
      	
              6.2

            	
              The
      Pledgors agree that the Pledgee’s rights to enforce the Pledge pursuant to
      this Agreement shall not be suspended or hampered by the Pledgors or any
      of its successors or assigns or any other
  person.

            

    

    

    
      	
              6.3

            	
              The
      Pledgors warrant to the Pledgee that in order to protect or perfect the
      security over the obligations of the Pledgor and/or Party C under the
      Controlling Agreements, the Pledgors shall make all necessary amendments
      to Party C’s articles of association (if applicable), and procure the
      other parties interested in the Pledge to execute all the title
      certificates, contracts, and/or perform and cause other interested Parties
      to take actions as required by the Pledgee and assist in the enforcement
      of the Pledge under this Agreement, enter into all the documents with
      respect to the changes of share certificate with the Pledgee or any third
      party designated by the Pledgee, and provides the Pledgee with all the
      documents it deems necessary for the Pledge within the reasonable
      period.

            

    

    

    
      	
              6.4

            	
              The
      Pledgors covenants to the Pledgee that, in the interest of the Pledgee,
      the Pledgors shall comply with and perform all the warranties, covenants,
      agreements and representations.

            

    

    

    
      	
               7.

            	
              Events
      of Breach

            

    

    

    
      	
              7.1 

            	
              Any
      of the following events shall be deemed as an Event of
    Breach:

            

    

    

    
      	
               
      

            	
              7.1.1

            	
              Party
      C or its successors or assigns fails to make full payment of service fees
      under the Service Agreement on schedule, or the Pledgors or its successors
      or assigns fails to perform the Business Operation Agreement, Option
      Agreement, Exclusive Business Consulting and Service Agreement and
      Intellectual Property License
Agreement;

            

    

    

    
      	
               
      

            	
              7.1.2

            	
              Any
      of representations, warranties or covenants under Sections 5 and 6 of any
      Pledgor is misleading or incorrect in material aspect, and/or the Pledgor
      is in violation of any representations or warranties under Sections 5 and
      6;

            

    

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

    

    
      	
               
      

            	
              7.1.3

            	
              The
      Pledgors materially breach any term of this
  Agreement;

            

    

    

    
      	
               
      

            	
              7.1.4

            	
              The
      Pledgors waive the Equity Interests pledged or transfer the Equity
      Interests pledged without prior written consent of the Pledgee except
      otherwise provided under Section 6.1.1
herein;

            

    

    

    
      	
              7.2

            	
              Any
      Pledgor shall immediately give a written notice to Pledgee if it has the
      knowledge or is aware of any event under Section 7.1 or any event that may
      result in any of the foregoing event has
  occurred.

            

    

    

    
      	
              7.3

            	
              Unless
      the Event of Breach under Section 7.1 has been settled to the Pledgee's
      satisfaction, the Pledgee, on the date when the Event of Breach occurs or
      any time thereafter, may give a written Notice of Breach to the Pledgor
      and require the Pledgors and/or Party C to forthwith pay all fees and
      other payables due and outstanding under the Controlling Agreements or
      timely perform the Business Operation Agreement, the Option Agreement, the
      Intellectual Property License Agreement. If the Pledgor fails to timely
      redress or cure its breach or make necessary remedies within ten (10) days
      upon such written notice, the Pledgee shall be entitled to enforce the
      Pledge in accordance with Section 8
herein.

            

    

    

    
      	
                8.

            	
              Enforcement
      of the Pledge

            

    

    

    
      	
              8.1

            	
              The
      Pledgor shall not transfer the Equity Interests pledged without prior
      written approval by the Pledgee prior to the full payment of the fees and
      the full performance of the obligations under Controlling
      Agreements.

            

    

    

    
      	
              8.2

            	
              The
      Pledgee shall give the Notice of Breach to the Pledgors when it exercises
      the right of pledge.

            

    

    

    
      	
              8.3

            	
              Subject
      to Section 7.3, the Pledgee may enforce the Pledge at any time after it
      gives the Notice of Breach in accordance with Section 7.3 of this
      Agreement.

            

    

    

    
      	
              8.4

            	
              The
      Pledgee shall have the priority in receiving compensation out of the
      proceeds from the disposition by agreement, auction or sale of whole or
      part of the Equity Interests pledged hereunder in accordance with legal
      procedures until the all outstanding fees and other payables under the
      Controlling Agreements are paid off, and the full performance of the
      Business Operation Agreement, the Option Agreement and the Intellectual
      Property License Agreement.

            

    

    

    
      	
              8.5

            	
              The
      Pledgors shall not hinder the Pledgee from disposing the Pledge when the
      Pledgee exercises the Pledge in accordance with this Agreement. The
      Pledgors shall give necessary assistance in the enforcement of the
      Pledge.

            

    

     

    
      
         

      

      
        7

        
          

        

      

      
         

      

    

    
      	
                9.

            	
              Transfer

            

    

    

    
      	
              9.1

            	
              The
      Pledgors shall not transfer any of its rights and/or obligations hereunder
      to any third party without prior written consent of the
      Pledgee.

            

    

    

    
      	
              9.2

            	
              Pledgee
      is entitled to transfer or assign all or part of its rights and
      obligations under the Controlling Agreements at any time. Under such
      situation, the transferee shall have and bear the rights and obligations
      borne by the Pledgee under this Agreement. When the Pledgee transfers the
      rights and obligations under the Controlling Agreements, the Pledgor shall
      execute relevant agreements and/or documents for such purpose as per the
      request of the Pledgee.

            

    

    
      	
              9.3

            	
              After
      the Pledgee is changed resulting from the transfer, the new Parties to the
      Pledge shall execute a new pledge agreement and the new Parties of the
      Pledge shall handle all the relevant registration
    procedures.

            

    

    

    
      	
                10.

            	
              Fees
      and other Expenses

            

    

    

    All
expense and actual costs in connection with this Agreement, including but not
limited to legal fees, paper cost, stamp duty and any other taxes and charges,
shall be borne half by Party A and Party B respectively.

    

    
      	
                11.

            	
              Force
      Majeure

            

    

    

    
      	
              11.1

            	
              “Event
      of Force Majeure” means any event that is unforeseeable or beyond the
      reasonable control of the Party affected and cannot be prevented with
      reasonable care, which includes but is not limited to the acts of
      governments, acts of nature, fire, explosion, geographic change, flood,
      earthquake, tide, lightning, war. However, any shortage of credit, capital
      or finance shall not be regarded as an event beyond a Party’s reasonable
      control. However, deficiency of credit, fund or financing shall not be
      deemed as the item out of reasonable control of the Party. The Party
      affected by an Event of Force Majeure who claims to be exempted from
      performing any obligations under this Agreement or under any section
      herein shall notify each other Party promptly of such
      exemption.

            

    

    

    
      	
              11.2

            	
              When performance of this
      Agreement is suspended or prevented due to an Event of Force
      Majeure defined as the
      above, the Party affected by such Event of Force Majeure shall be exempted
      from any liability under this Agreement to the extent of such suspend or
      prevention. The Party affected shall take proper measures to decrease or
      diminish the impacts from such Event of Force Majeure and make reasonable
      and practicable efforts to resume the performance suspended or prevented
      by the Event of Force Majeure, so that it may be exempted from performing
      such obligations to the extent of the part of the obligations suspended or
      prevented. Once the Event of Force Majeure ceased, the affected Party
      shall make its best endeavors to resume the performance of this
      Agreement.

            

    

    
      
         

      

      
        8

        
          

        

      

      
         

      

    

    
      	
                12.

            	
              Governing
      Law and Dispute Resolution

            

    

    

    
      	
              12.1

            	
              The
      execution, validity, performance and interpretation of this Agreement
      shall be governed by and construed in accordance with the laws of the
      PRC.

            

    

    

    
      	
              12.2

            	
              The
      Parties shall strive to settle any dispute arising from the interpretation
      or execution of this Agreement through negotiation in good faith. In case
      no settlement can be reached through consultation, each Party may submit
      such dispute to Xiamen Arbitration Commission for arbitration in
      accordance with its then-current and effective arbitration rules. The
      arbitration shall be conducted in Chinese. The arbitration award shall be
      final and binding upon the Parties.

            

    

    
      	
              12.3

            	
              Each
      Party shall continue to perform its obligations in good faith in
      accordance with this Agreement except for the matters in
      dispute.

            

    

    

    
      	
                13.

            	
              Notice

            

    

    

    Any
notice or correspondence given by the Parties hereunder, shall be in writing and
shall be delivered in person registered mail, postage prepaid mail, recognized
courier service or by facsimile transmission to the address of the relevant
Party or Parties set forth below:

    

    Party
A:

    

    AILIBAO
(FUJIAN) MARKETING MANAGEMENT CO.,LTD

    
      	
               
      

            	
              Address:

            	
              Floor
      2, Building 1, Kaiyuan Industrial Zone
No.118,

            

    

    Jiangtou
Village, Chendai Town, Jinjiang City

    
      	  	
              Fax: 

            	
              0595-85192329

            

    

    
      	  	
              Telephone: 

            	
              0595-85196329

            

    

    
      	  	
              Addressee: 

            	
              Lam
      Mei Ying

            

    

    

    Party
B:

    

    Ding
Baojian

    
      	
               
      

            	
              Address:

            	
              East
      Kaituo Road No.9, Jiangtou village, Chendai Town, Jinjiang

              City,
      Fujian Province

            

    

    
      	  	
              Fax: 

            	
              0595-85192329

            

    

    
      	  	
              Telephone: 

            	
              0595-85196329

            

    

    

    Ding
Baofu

    
      	
               
      

            	
              Address:

            	
              Dongmei
      No.34, Jiangtou village, Chendai Town, Jinjiang City,

              Fujian
      Province

            

    

    
      	
               
      

            	
              Fax:

            	
              0595-85192329

            

    

    
      	  	
              Telephone: 

            	
              0595-85196329

            

    

    
      
         

      

      
        9

        
          

        

      

      
         

      

    

    

    Ding
Changming

    
      	
               
      

            	
              Address:

            	
              East
      Kaituo Road No.9, Jiangtou village, Chendai Town, Jinjiang

              City,
      Fujian Province

            

    

    
      	
               
      

            	
              Fax:

            	
              0595-85192329

            

    

    
      	  	
              Telephone: 

            	
              0595-85196329

            

    

    

    Party
C:

    

    Fujian
Jinjiang Chendai Ailibao Shoes & Clothes Co., Ltd

    
      	  	
              Address: 

            	
              Jiangtou
      village, Chendai town, Jinjiang, Fujian
province

            

    

    
      	
               
      

            	
              Fax:

            	
              0595-85192329

            

    

    
      	  	
              Telephone: 

            	
              0595-85196329

            

    

    
      	  	
              Addressee: 

            	
              Ding
      Baofu

            

    

    

    
      	
                14.

            	
              Waiver

            

    

    

    The
Pledgee’s non-exercise or suspend in exercise of any right, remedie, power or
privilege hereunder shall not be deemed as a waiver thereof. Any single or
partial exercise of the rights, remedies, power and privileges shall not exclude
the Pledgee from exercising any other rights, remedies, power and privileges.
The rights, remedies, power and privileges hereunder are accumulative and shall
not exclude the application of any other rights, remedies, power and privileges
under any applicable laws.

    

    
      	
                15.

            	
              Miscellaneous

            

    

    

    
      	
              16.1

            	
              Any
      amendment, supplement or modification to this Agreement shall be in
      writing and come into effect upon being executed or sealed by the Parties
      hereto.

            

    

    

    
      	
              16.2

            	
              The
      Parties hereby acknowledge that they enter into this Agreement in good
      faith on the basis of equality and mutual benefit. In case any provision
      in this Agreement is void or unenforceable due to incompliance with
      relevant laws, such provisions shall be deemed to become null and void and
      unenforceable to the extent provided by the applicable laws, and the
      balance of this Agreement will remain
enforce.

            

    

    

    
      	
              16.3

            	
              This
      Agreement is made in English, with five [5]
  originals.

            

    

    
      
         

      

      
        10

        
          

        

      

      
         

      

    

    (Signature
Page to the Share Pledge Agreement)

    

    Party
A:

    

    AILIBAO
(FUJIAN) MARKETING MANAGEMENT CO.,LTD

    

    
      
        	
                Authorized
      Representative:

              	
                /s/ LAM Mei Ying

              	 
      

      

    

    

    Party
B:

    

    
      
        
          
            	
                    Ding
      Baojian

                  
	 
      	 
      	 
      
	
                    Signature:

                  	
                    /s/ DING Baojian

                  	 
      
	 
      	 
      	 
      
	
                    Ding
      Baofu

                  
	 
      	 
      	 
      
	
                    Signature:

                  	
                    /s/
      DING Baofu

                  	 
      
	 
      	 
      	 
      
	
                    Ding
      Changming

                  
	 
      	 
      	 
      
	
                    Signature:

                  	
                    /s/ DING Changming

                  	 
      

          

        

      

    

    

    Party
C:

    

    Fujian
Jinjiang Chendai Ailibao Shoes & Clothes Co., Ltd

    

    
      
        	
                Authorized
      Representative:

              	
                /s/ DING Baojian

              	 
      

      

    

     

    
      
         

      

      
        11

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