Document:

Equity Pledge Agreement

 Exhibit 10.4 
 Equity Pledge Agreement 
 This Equity Pledge Agreement (this
“Agreement”) is executed by and among the following parties in Guangzhou, China on this sixth day of September, 2010: 
 Pan Weijia
(a shareholder of Guangzhou Shen Long Computer Technology Co., Ltd., hereinafter “Shareholder A”) 
 ID Card No.:
440623197307132712 
 Address: Floor 17, Tower A, Victory Square, No.103 Tiyu Xi Road, Guangzhou 

Postal Code: 510620 
 Tel: 020-86002299

 Fax: 020-86006638 
 Pan Weinian
(a shareholder of Guangzhou Shen Long Computer Technology Co., Ltd., hereinafter “Shareholder B”) 
 ID Card No.:
440623197011022717 
 Address: Floor 17, Tower A, Victory Square, No.103 Tiyu Xi Road, Guangzhou 

Postal Code: 510620 
 Tel: 020-86002299

 Fax: 020-86006638 
 Unless
specifically indicated hereinafter, Shareholder A and Shareholder B are collectively referred to as “Pledgor”. 
 Global
Market Group (Guangzhou) Co., Ltd. (hereinafter “Pledgee”) 
 Address: Rooms 1701-1704, No.103 Tiyu Xi Road, Tianhe District,
Guangzhou City, China 
 Postal Code: 510620 
 Tel: 020-86002299 
 Fax: 020-86006638 
 Guangzhou Shen Long Computer Technology Co., Ltd. (hereinafter “Operation Company”) 
 Address: Room 1905, No.103 Tiyu Xi Road, Tianhe District, Guangzhou City, China 
 Postal Code:
510620 
 Fax: 020-38105651 

  
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 Shareholder A, Shareholder B, the Pledgee and the Operation Company shall be individually referred to as
“a Party” and collectively as “the Parties”. 
 Whereas: 

(1) The Operation Company is a company registered in Guangzhou, China. It is engaged in the business of rendering computer network technology services.
Shareholder A Pan Weijia and Shareholder B Pan Weinian respectively own 90% and 10% of the Equity Interest in the Operation Company; 
 (2) The
Pledgee is an enterprise with foreign investment registered in Guangzhou, China. It has expertise and resources in the fields of technical, marketing and management consultation and other consultation services involved in the aforesaid business of
the Operation Company; 
 (3) The Pledgee signed the Exclusive Management, Technical Consultancy and License Agreement (hereinafter
“Service Agreement”) and Purchase Option and Cooperation Agreement (hereinafter “Option Agreement”) on September 6, 2010 with the Pledgor and the Operation Company. In accordance with the above
Agreements, the Pledgee will be authorized on an exclusive basis to manage the Operation Company and provide the Operation Company with corresponding technical consultation and licenses; and 
 (4) To ensure that the Pledgee shall collect from the Operation Company in accordance with relevant provisions of the Service Agreement all payments thereunder and that the Service Agreement and the
Option Agreement shall be performed in full, the Pledgor, comprised of Shareholder A and Shareholder B, hereby jointly and severally pledges all of their respective equity interests in the Operation Company as security for payment of the aforesaid
payments and fulfillment of their obligations under the Service Agreement and the Option Agreement and the Pledgee is willing to accept such pledge. 
 In order to perform the provisions of the Service Agreement, the Pledgor and the Pledgee have mutually agreed to execute this Agreement upon the following terms: 

 

	1.	Definition 

 Unless
otherwise provided herein, the terms below shall have the following meanings: 
  

	 	1.1	Pledge Right: shall refer to all contents under Article 2 of this Agreement. 

  
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	 	1.2	Equity Interest: shall refer to all of the equity interests held by the Pledgor now and hereafter in the Operation Company and all present and future rights and
benefits in connection with such equity interest. 

  

	 	1.3	Event of Default: shall refer to any of the circumstances set forth in Article 8 of this Agreement. 

 

	 	1.4	Notice of Default: shall refer to the notice issued by the Pledgee in accordance with this Agreement declaring an Event of Default. 

 

	 	1.5	Day and Working Day: a “Day” shall refer to a calendar day; while a “Working Day” shall refer to any of the weekdays, from Monday to Friday.

  

	2.	Pledge 

  

	 	2.1	The Pledgor, comprised of Shareholder A and Shareholder B, pledges to the Pledgee their respective equity interests (the 90% equity interest held by Shareholder A
represents a capital contribution of RMB2.25 million; and the 10% equity interest held by Shareholder B represents a capital contribution of RMB0.25 million) in the Operation Company to guarantee complete and full satisfaction by the Operation
Company of the aforesaid rights and interests of the Pledgee under the Service Agreement and the Option Agreement. The Pledge Right refers to the right of the Pledgee to have its claims satisfied, in priority to others, with the estimated price of
the Equity Interest pledged by the Pledgor with the Pledgee or the proceeds from the auction or sale thereof. Such Pledge Right shall extend to any dividend or premium arising from the Equity Interest or transfer thereof during the term of this
Agreement. 

  

	 	2.2	Each of Shareholder A and Shareholder B has obtained the consent of the other party (shareholder) to its pledge with the Pledgee of all of its equity interest in the
Operation Company that it now owns or may own in the future and such other party(shareholder) has unconditionally waived its right of first refusal with respect to such equity interest. 

 

	 	2.3	During the term of this Agreement, the Pledgee shall not be held liable for, nor shall Shareholder A and/or Shareholder B be entitled to bring any claim or demand
against the Pledgee in connection with, any diminution of the value of the pledged Equity Interest, unless such value diminution arises from any intentional act or omission of the Pledgee or any gross negligence of the Pledgee having a direct causal
link with such value diminution. 

  
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	 	2.4	Subject to the provisions of Article 2.3, where the Equity Interest is likely to suffer any evident diminution in value, which is sufficient to endanger the rights of
the Pledgee, the Pledgee may at any time, on behalf of Shareholder A and/or Shareholder B, auction or sell the pledged Equity Interest, and may afterwards, subject to agreement with Shareholder A and/or Shareholder B, either apply the proceeds from
such auction or sale towards early satisfaction of any and all liabilities or obligations under the Service Agreement and the Option Agreement, or place such proceeds under the custody of a notary office at the place of the Pledgee (All costs and
expenses arising in connection therewith shall be borne by the Pledgee.). 

  

	 	2.5	Subject to prior written consent of the Pledgee, Shareholder A and/or Shareholder B may increase the capital of the Operation Company (including without limitation, by
way of capital injection, and capitalization of public reserve fund or undistributed profit). Any increase in the capital contribution by Shareholder A and/or Shareholder B to the Operation Company resulting from any capital increase effected by
Shareholder A and/or Shareholder B in respect of the Operation Company shall also become part of the Equity Interest subject to the Pledge hereunder. 

  

	3.	Scope Secured by the Pledge 

  

	 	3.1	The scope secured by the Pledge under this Agreement shall cover all debts so secured, including such service fees, interest, liquidated damages, indemnity and costs
for the realization of creditor’s rights as payable by the Operation Company to the Pledgee, and the various obligations of the Operation Company, arising out of the Service Agreement and the Option Agreement; losses and all other costs payable
incurred by the Pledgee due to the breach of the Operation Company; and the liabilities of the Operation Company or the Pledgor in respect of the Pledgee when the Option Agreement fails to be performed for any reason. 

 

	 	3.2	The Pledge Right hereunder refers to the right of the Pledgee to have its claims satisfied, in priority to others, with the estimated price of the Equity Interest
pledged by the Pledgor with the Pledgee or the proceeds from the auction or sale of such Equity Interest. 

  
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	4.	Term of Pledge and Its Registration 

  

	 	4.1	The Pledgor shall cause the Operation Company to record, and the Operation Company shall record, within three (3) working days after the date of this Agreement,
the pledge of the Equity Interest in the shareholders’ register of the Operation Company, after which, the Operation Company shall issue updated capital contribution certificates setting out the particulars of the pledge of the Equity Interest.

  

	 	4.2	After the date of this Agreement, unless otherwise consented to by the Pledgee in writing, the Pledge under this Agreement will not be released unless and until the
Operation Company and the Pledgor have duly satisfied all of their obligations and liabilities under the Service Agreement and the Option Agreement and such satisfaction has been recognized by the Pledgee in writing. If, upon the expiry of the term
stipulated in the Service Agreement and the Option Agreement, the Operation Company or the Pledgor still fails to perform all or part of their obligations or liabilities under the Service Agreement and the Option Agreement, then the Pledgee shall
continue to have the Pledge Right hereunder until full satisfaction of such obligations and liabilities. 

  

	 	4.3	If any change occurs to any recorded particular of the Pledge and if such recorded particulars are required by law to be amended accordingly, the Pledgor and the
Pledgee shall amend such record within fifteen (15) working days after the occurrence of the change. 

  

	 	4.4	The Pledgor shall cause the Operation Company to complete, and the Operation Company shall complete, within five (5) working days after the date of this Agreement,
the industrial and commercial registration procedures for the Pledge. If any of the registered items changes, the Pledgor shall cause the Operation Company to complete, and the Operation Company shall complete, within five (5) working days
after the occurrence of the change, the change registration procedures for the pledged Equity Interest. 

  
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	5.	Custody of Records and Certificates 

  

	 	5.1	On the date of this Agreement, the Pledgor shall deliver to the Pledgee for its custody a copy of the shareholders’ register (counterpart) (attached as Appendix 1
hereto) and a copy of the capital contribution certificate (counterpart) (attached as Appendix 2 hereto), each of which shall set forth particulars of the pledging of the Equity Interest as provided in Article 4.1 of this Agreement; and shall,
during the prescribed term of the Pledge, always place such shareholders’ register and such capital contribution certificate and any updated versions thereof (if any) under the custody of the Pledgee. Within thirty days after the date of this
Agreement, the Pledgor shall deliver to the Pledgee a certificate showing that the pledge under this Agreement has been properly registered with the local administrative department for industry and commerce and has been recorded in the
shareholders’ register. 

  

	 	5.2	Unless agreed by the Pledgee in writing, during the term of this Agreement, all proceeds generated by the Equity Interest (if any, including without limitation any
dividend and profit) shall also be part of the pledge security provided to the Pledgee hereunder. 

  

	6.	Representations and Warranties of the Pledgor 

 When signing this Agreement, the Pledgor makes the following representations and warranties to the Pledgee and acknowledges that the Pledgee signs and performs this Agreement on reliance of such
representations and warranties. 
  

	 	6.1	The Pledgor is the legal owner of the relevant Equity Interest under this Agreement and is entitled to pledge such Equity Interest with the Pledgee as security.

  

	 	6.2	Execution of this Agreement and performance of their obligations hereunder by the Pledgor and the Operation Company have obtained all necessary powers and
authorizations and will not contravene any applicable law or regulation or any agreement binding on them; and their authorized signatories under this Agreement have been duly and lawfully authorized. 

 

	 	6.3	All documents, information, accounts and credentials provided by the Pledgor to the Pledgee are accurate, true, complete and valid. 

  
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	 	6.4	Exercise by the Pledgee at any time of the rights of a pledgee in accordance with this Agreement shall be free and clear from any intervention by any third party.

  

	 	6.5	The Pledgee is entitled to exercise the Pledge Right in such manner as provided by law and this Agreement. 

 

	 	6.6	On the date of this Agreement, there are no ongoing or threatened civil, administrative or criminal proceedings, or administrative punishment or arbitration involving
the Pledgor or the Equity Interest. 

  

	 	6.7	Except for the Pledge Right granted to the Pledgee, the Pledgor has not created any other encumbrance on the Equity Interest (including without limitation any pledge).

  

	 	6.8	On the date of this Agreement, the Equity Interest is not subject to any due but unpaid taxes or fees or any statutory procedures or formalities which should have been
completed but remain uncompleted. 

  

	 	6.9	All the provisions of this Agreement are a true expression of the intent of the Pledgor and are legally binding on the Pledgor. 

 

	 	6.10	The Operation Company possesses the original copy and the counterpart copy of the shareholders’ register. The original copy is kept at the Operation Company and
the counterpart copy will be delivered to the Pledgee for custody after the Pledge is registered. The Operation Company guarantees that the counterpart copy is consistent with the original copy and that the particulars recorded therein are complete,
true and accurate and tally with the names of the shareholders in the industrial and commercial registration. 

  

	7.	Covenants of the Pledgor 

  

	 	7.1	During the term of this Agreement, the Pledgor jointly and severally covenants, for the benefit of the Pledgee, to the Pledgee that: 

 

	 	7.1.1	Within five (5) working days after the date of this Agreement, it shall timely and properly go through the procedures of registration with the relevant
administrative department for industry and commerce and take other relevant measures to procure the creation of the Pledge Right, so as to ensure compliance with and enforcement of all provisions of all applicable laws and regulations;

  
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	 	7.1.2	Other than a transfer of any Equity Interest to the Pledgee or any person designated by the Pledgee effected in accordance with the Option Agreement by and among the
Pledgor, the Pledgee and the Operation Company, or a transfer of equity interest effected within the Pledgor without prejudice to the validity of the Pledge hereunder (subject to a prior notice by the proposing transferor to the Pledgee); without
the prior written consent of the Pledgee, the Pledgor shall neither transfer the Equity Interest, nor create or permit the existence of any pledge that may affect the Pledgee’s rights and interests in the Equity Interest, nor cause the
shareholders’ meeting of the Operation Company to pass any resolution to sell/transfer/pledge or otherwise dispose of any equity interest of the Operation Company or permit the creation of any security interest thereon,

  

	 	7.1.3	It shall comply with and implement the provisions of all laws and regulations governing the pledging of rights. It shall, within five (5) working days of receipt
of any notice, order or recommendation issued or prepared by relevant competent authorities regarding the Pledge, present such notice, order or recommendation to the Pledgee, and shall comply with such notice, order or recommendation, or, upon the
Pledgee’s reasonable request or subject to consent of the Pledgee, submit objections and representations with respect to such notice, order or recommendation. If the period for responding to the aforementioned notice, order or recommendation is
less than five (5) working days, it shall present such notice, order or recommendation to the Pledgee immediately and shall take actions in accordance with the reasonable instructions of the Pledgee; 

 

	 	7.1.4	It shall promptly notify the Pledgee of any event or any notice received by it which may have an impact on the Pledgor’s rights to the subject matter of the Pledge
or any portion thereof, as well as any event or any notice received by it which may change or have an impact on any guarantees and obligations created hereunder and shall take such actions as instructed by the Pledgee. 

 

	 	7.2	The Pledgor agrees that the rights acquired by the Pledgee in accordance with this Agreement with respect to the Pledge shall not be interrupted or prevented by the
Pledgor or any heirs or representatives of the Pledgor or any other persons by means of legal proceedings. 

  
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	 	7.3	In order to protect or perfect the security granted by this Agreement for the payment of secured obligations, the Pledgor hereby undertakes to: execute in good faith,
and cause other parties who have an interest in the Pledge Right to execute, all entitlement certificates and agreements required by the Pledgee; and/or perform and cause other parties who have an interest in the Pledge Right to perform, actions
required by the Pledgee; facilitate the exercise by the Pledgee of its rights and authorizations granted hereunder; enter into all relevant documents regarding alteration of Equity Interest certificates with the Pledgee or designee(s) of Pledgee
(natural persons/legal persons); and provide the Pledgee within a reasonable time with all notices, orders and decisions regarding the Pledge Right which are deemed necessary by the Pledgee. 

 

	 	7.4	For the benefit of the Pledgee, the Pledgor hereby undertakes to comply with and perform all guarantees, promises, agreements, representations and conditions under this
Agreement. In the event that the Pledgor fails to perform or fails to fully perform its guarantees, promises, agreements, representations and conditions, the Pledgor shall indemnify the Pledgee for all losses resulting therefrom.

  

	8.	Event of Default 

  

	 	8.1	The following circumstances shall each be deemed a material event of default: 

 

	 	8.1.1	the Operation Company or any of its successors or assigns fails to timely and fully pay any of service fees payable under the Service Agreement, or the Pledgor or any
of its successors or assigns fails to perform the Option Agreement; 

  

	 	8.1.2	Any representation or warranty by the Pledgor in Articles 6 and 7 of this Agreement is materially misleading or erroneous, which results in losses to the Pledgee;

  

	 	8.1.3	The Pledgor materially breaches any other provisions of this Agreement, which affects the rights and interests of the Pledgee; 

  
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	 	8.1.4	Except as expressly stipulated in Article 7.1.1 of this Agreement, the Pledgor waives the subject-matter of the Pledge or any part of it, or transfers, without the
written consent of the Pledgee, the subject-matter of the Pledge or any part of it (except for any transfer permitted hereunder); 

  

	 	8.1.5	Any of the Pledgor’s own borrowings from, or any of its guarantees, indemnifications, promises or other debt liabilities to, a third party (1) becomes subject
to a demand of early repayment or performance due to default on the part of the Pledgor; or (2) becomes due but fails to be repaid or performed in a timely manner, and as a result, in the opinion of the Pledgee, the ability of the Pledgor of
performing its obligations under this Agreement is compromised and the rights of the Pledgee under this Agreement are affected. 

  

	 	8.1.6	The Pledgor fails to repay other material debts; 

  

	 	8.1.7	As a result of the promulgation of relevant laws, this Agreement becomes illegal or the Pledgor becomes unable to continue to perform its obligations under this
Agreement; 

  

	 	8.1.8	Any approval, license, permit or authorization of government agencies required for the enforceability, lawfulness or effectiveness of this Agreement is withdrawn,
suspended, voided or materially modified; 

  

	 	8.1.9	Adverse changes occur to the properties owned by the Pledgor and as a result, in the opinion of the Pledgee, the Pledgor’s ability to perform its obligations under
this Agreement is affected; 

  

	 	8.1.10	Any act or omission of the Pledgor in breach of any other provisions of this Agreement which constitutes a default; 

 

	 	8.1.11	Any other circumstances in which relevant legal requirements bar the Pledgee from exercising its Pledge Right. 

 

	 	8.2	Upon becoming aware of or discovering the occurrence of any circumstances or event that may lead to the aforementioned circumstances described in Article 8.1 of this
Agreement, the Pledgor shall immediately notify the Pledgee in writing. 

  
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	 	8.3	Unless an Event of Default set forth in this Article 8.1 has been successfully resolved to the Pledgee’s satisfaction, the Pledgee may issue a Notice of Default to
the Pledgor in writing upon the occurrence of the Event of Default or at any time thereafter and demand the Operation Company either to immediately pay all outstanding payments due under the Service Agreement and all other payments due to the
Pledgee or to timely perform the Option Agreement, or the Pledgee may exercise its Pledge Right in accordance with Article 9 of this Agreement. 

  

	9.	Exercise of Pledge Right 

  

	 	9.1	Prior to full payment of the service fees under the Service Agreement and/or complete performance of the Option Agreement, without the Pledgee’s written consent,
the Pledgor shall not assign or otherwise dispose of the Equity Interest. 

  

	 	9.2	In the event that any Event of Default set forth in Article 8 occurs, the Pledgee shall issue a Notice of Default to the Pledgor when exercising the pledge.

  

	 	9.3	Subject to the provisions of Article 8.3 and to the extent permitted by Chinese law, the Pledgee may dispose of the Pledge subject-matter concurrently with the issuance
of the Notice of Default in accordance with Article 8.3 or at any time after the issuance of the Notice of Default. 

  

	 	9.4	To the extent permitted by Chinese law, the Pledgee is entitled to have its claims satisfied, in priority to others, in accordance with law, with the estimated price of
all or part of the Equity Interest hereunder or the proceeds from the auction or sale thereof until the outstanding service fees and all other amounts payable under the Service Agreement are fully paid and the Option Agreement is fully performed.

  

	 	9.5	When the Pledgee disposes of the Pledge subject-matter in accordance with this Agreement, the Pledgor shall refrain from creating any obstacle and shall provide
necessary assistance so as to enable the Pledgee to exercise its Pledge Right. 

  
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	10.	Assignment 

  

	 	10.1	Without the prior written consent of the Pledgee, the Pledgor may not give away as a gift or assign any of its rights or obligations under this Agreement.

  

	 	10.2	This Agreement shall be binding on the Pledgor and its successors, and shall be valid with respect to the Pledgee and each of its successors and assigns.

  

	 	10.3	The Pledgee may assign at any time any and all of its rights and obligations under the Service Agreement and the Option Agreement to its designee(s) (natural/legal
persons) (hereinafter “Assignee”), in which case the Assignee shall have the same rights and assume the same obligations as the Pledgee does under this Agreement, as if it were the original party to this Agreement.

  

	 	10.4	If, as a result of such assignment, the Pledgee is changed, the parties to such changed Pledge shall enter into a new pledge agreement, shall complete the change
registration in respect of the Pledge with the local industry and commerce administration, shall record such new pledgee in the shareholders’ register of the Operation Company and shall amend the capital contribution certificate accordingly

  

	11.	Fees and Other Expenses 

  

	 	11.1	All fees and out-of-pocket expenses relating to this Agreement, including but not limited to legal costs, certificate preparation costs, stamp tax and any other taxes
and fees, shall be borne by the Pledgor. In the event that the Pledgee pays relevant taxes and fees as required by law, the Pledgor shall reimburse the Pledgee in full against all such taxes and fees paid by the Pledgee. 

 

	 	11.2	If, as a result of the failure by the Pledgor to pay in accordance with this Agreement any tax or expense payable by it hereunder or due to any other reason
attributable to the Pledgor, the Pledgee exercises, by any means or in any manner, its right of recourse, the Pledgor shall assume all expenses arising therefrom (including without limitation taxes, fees, charges, administration costs, litigation
costs, attorney’s fee and insurance premiums required for the disposal of the Pledge Right and the completion of pledge registration). 

  
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	12.	Force Majeure 

  

	 	12.1	In the event that the performance of this Agreement is delayed or impeded due to any “Force Majeure Event”, the Party affected by the Force Majeure Event
shall not assume any liability under this Agreement to the extent that the performance of this Agreement is so delayed or impeded. “Force Majeure” means any event which is beyond a Party’s reasonable control and which cannot be
avoided by such Party in spite of its reasonable care, including without limitation governmental acts, natural force, fire, explosion, geographic change, storm, flood, earthquake, tide, lightning and war, provided that inadequate creditworthiness,
funds or financing shall not be deemed an event beyond the reasonable control of a Party. The Party affected by the Force Majeure Event seeking to be released from the liability of contract performance under this Agreement or under any provision of
this Agreement shall as soon as possible inform the other party of such exculpatory event as well as the steps to be taken by it towards its full performance of this Agreement. 

 

	 	12.2	The Party affected by a Force Majeure Event shall be released from any liability under this Agreement, provided however, that such release of liability will not be
granted to it unless and until it has used its reasonably practicable efforts to perform this Agreement and that such release of liability will be restricted to that part of contract performance so delayed or impeded. Once the cause for such
liability exemption is cured or remedied, the Parties agree to use their best efforts to resume the performance of this Agreement. 

  

	13.	Dispute Resolution 

  

	 	13.1	This Agreement shall be governed by and interpreted in accordance with the laws of the People’s Republic of China. 

 

	 	13.2	Any controversy, dispute or claim arising out of or with respect to this Agreement or the performance, construction, breach, termination or validity thereof shall be
resolved by the Parties through friendly consultation, which shall immediately commence upon one Party serving a written request therefor on the other Party in respect of a specific controversy, dispute or claim. In the event the Parties fail to
reach an agreement on the resolution of such a dispute within 30 days after the said request is served, any Party may at its request submit the relevant dispute to arbitration upon notice to the other Party. 

  
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	 	13.3	Any dispute or claim of whatever nature arising out of or relating to this Agreement or the breach, termination or invalidity thereof shall be finally resolved by
arbitration. The Parties hereby agree to submit any dispute to Guangzhou Arbitration Commission (“Arbitration Commission”) for it to render a binding award in accordance with its then-effective arbitration rules. Each Party shall have the
right to appoint one arbitrator and the Parties shall jointly appoint the third arbitrator, who shall act as chairman of the tribunal. If the Parties fail to agree upon the appointment of the third member, the Parties hereby irrevocably designate
and authorize the chairman of the Arbitration Commission to appoint the third arbitrator. The language of the arbitration shall be Chinese. The arbitrators shall render an award in respect of any relevant dispute or claim strictly in accordance with
the applicable law stipulated under Article 13.1 of this Agreement. 

  

	 	13.4	Any and all fees and expenses in connection with arbitration, including without limitation arbitration fee (including without limitation the fees of the Arbitration
Commission) shall be borne by the Parties in accordance with the award of the Arbitration Commission. 

  

	 	13.5	Any award rendered by the Arbitration Commission shall be final and binding upon each Party. To the extent permitted by law, each Party expressly waives the invocation
of any laws or regulations otherwise granting it the right to appeal the award of the tribunal and will therefore refrain from appealing the award of the Arbitration Commission before any court. Furthermore, none of the Parties shall oppose or
resist any enforcement action taken by the other Party who supports the award of the Arbitration Commission. 

  

	 	13.6	The Parties shall cooperate with each other so as to fully disclose and furnish to the other Party all information and documents required by such other Party in
connection with the procedures of arbitration, provided however that the foregoing sentence shall not apply to any information or document in respect of which a Party is bound by any confidentiality obligations. 

 

	 	13.7	Pending the resolution of any dispute, except for the matters under dispute, the Parties shall continue to perform this Agreement in all other respects.

  
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	14.	Notice 

 All notices sent
by any Party for the purpose of exercising their respective rights or performing their respective obligations under this Agreement shall be in written form. Notices delivered by hand shall be considered received when delivered; notices sent via
telex or fax shall be considered received when they are dispatched. In the event that a notice is served on a day that is not a working day or is served after the business hours, then such notice shall be deemed to be served on the next working day.
The address for the service of notice shall be the addresses of each party stated on the first page of this Agreement or any other address notified in writing from time to time. For the purpose hereof, the term “written form” includes fax
and telex. 
  

	15.	Waiver 

 Any failure of
the Pledgee to exercise or any delay of the Pledgee in exercising any right, remedy, power or privilege under this Agreement shall not be construed as a waiver of such right, remedy, power or privilege. Any single or partial exercise of any right,
remedy, power or privilege by the Pledgee shall not exclude the exercise of any other right, remedy, power or privilege by the Pledgee. The rights, remedies, powers and privileges stipulated herein are cumulative and are not exclusive of any and all
rights, remedies, powers and privileges provided by any laws. 
  

	16.	Effectiveness and Miscellaneous 

  

	 	16.1	This Agreement shall be formed when it is signed and sealed by the Parties and shall become effective when the pledge of the Equity Interest is recorded in the
shareholders’ register. The Pledge under this Agreement shall be created when the pledging of the Equity Interest is registered with the relevant administrative department for industry and commerce. 

 

	 	16.2	After this Agreement enters into effect, the Pledgor shall record the pledging of the pledge subject matter under this Agreement in the shareholders’ register of
the Operation Company and deliver such subject-matter to the Pledgee for custody. 

  

	 	16.3	To the extent any provision of this Agreement is held invalid or unenforceable under any applicable law or regulation, such provision shall be only deemed invalid
within the jurisdiction of the said law or regulation and the legal effect of the remainder of this Agreement shall not be affected. 

  
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	 	16.4	This Agreement is made in Chinese in six originals. Each Party holds one copy and the remaining copies shall be used for industrial and commercial registration. All of
the copies shall have the same legal force and effect. 

  

	 	16.5	Miscellaneous 

 All prior equity
pledge agreements executed, or orally agreed, or confirmed by mail by the Parties shall become null and void as of the date when this Agreement enters into effect. The pledging of the Equity Interest shall be exclusively governed by this Equity
Pledge Agreement. 
 IN WITNESS WHEREOF, the Parties to this Agreement have caused their respective authorized signatories to sign this
Agreement in Guangzhou on the date first above written. 
 [Remainder of this page intentionally left blank] 

  
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 [Signature Page] 

 

									
	Global Market Group (Guangzhou) Co., Ltd.	 		 	Guangzhou Shen Long Computer Technology Co., Ltd.
			
	(Company seal)	 		 	(Company seal)
					
	Signed by:	 	 /s/ Weijia Pan
	 		 	Signed by:	 	 /s/ Weijia Pan

	Name:	 	Weijia Pan	 		 	Name:	 	Weijia Pan
	Title:	 	Legal Representative	 		 	Title:	 	Legal Representative
			
	Weijia Pan	 		 	Weinian Pan
					
	Signed by:	 	 /s/ Weijia Pan
	 		 	Signed by:	 	 /s/ Weinian Pan

  
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 Appendix A Shareholder’s Register 

  
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 Shareholder’s Register of Guangzhou Shen Long Computer Technology Co., Ltd.

 (As of September 6, 2010) 
  

											
	 Name of
Shareholder
	  	 Address
	  	Amount of
Contribution
(RMB)	  	Percentage of
Contribution	 	 Capital

Contribution

Certificate No./
 Capital Increase
 Certificate
	  	 Remark

	 Pan Weijia
	  	Floor 17, Tower A, Victory Square, No.103 Tiyu Rd West, Guangzhou	  	2,250,000.00	  	90%	 	Hua Tuo Yan Zi (2010) No. 020184 Capital Verification Report/ the June 28, 2010 resolution of the shareholders’ meeting of Guangzhou Shen Long Computer Technology Co.,
Ltd. on RMB500,000.00 registered capital increase; an amendment to the Articles of Association of Guangzhou Shen Long Computer Technology Co., Ltd; the June 29, 2010 approval by Tianhe Branch of the Administration of Industry and Commerce of
Guangzhou on the change registration of Equity Interest	  	All the equity interest of the shareholder has been pledged to Global Market Group (Guangzhou) Co., Ltd. (registration with the industry and commerce
administration has yet to be completed )

  
 19 

															
	 Pan Weinian
	  	 Floor 17, Tower A, Victory Square, No.103

Tiyu Rd West, Guangzhou
	  	 	250,000.00	  	  	 	10	% 	 	Hua Tuo Yan Zi (2010) No. 020184 Capital Verification Report/ the June 28, 2010 resolution of the shareholders’ meeting of Guangzhou Shen Long Computer Technology Co.,
Ltd. on RMB500,000.00 registered capital increase; the Articles of Association of Guangzhou Shen Long Computer Technology Co., Ltd; the June 29, 2010 approval by Tianhe Branch of the Administration of Industry and Commerce of Guangzhou on the
change registration of Equity Interest	  	All the equity interest of the shareholder has been pledged to Global Market Group (Guangzhou) Co., Ltd. (registration with the industry and commerce
administration has yet to be completed)

  
 20 

 Appendix B Capital Contribution Certificate 

  
 21 

 Guangzhou Shen Long Computer Technology Co., Ltd. 

Capital Contribution Certificate 
 (Hua Tuo Yan Zi (2010) No. 020184) 
 This is to certify that Guangzhou
Shen Long Computer Technology Co., Ltd. (“the Company”) was established on June 23, 2003 and registered with the Administration of Industry and Commerce of Guangzhou Municipality under the registration number of 440106000264027. The
current registered capital of the Company is Renminbi 2,500,000 yuan (Say RMB Two Million Five Hundred Thousand Only). 

The shareholder of Guangzhou Shen Long Computer Technology Co., Ltd. Pan Weijia has contributed in total Renminbi 2,250,000 yuan
(Say RMB Two Million Two Hundred Fifty Thousand Only) to the Company as of June 10, 2010. 
 Guangzhou Shen Long Computer
Technology Co., Ltd. (seal) 
 September 6, 2010 

  
 22 

 Guangzhou Shen Long Computer Technology Co., Ltd. 

Capital Contribution Certificate 
 (Hua Tuo Yan Zi (2010) No. 020184) 
 This is to certify that Guangzhou
Shen Long Computer Technology Co., Ltd. (the “Company”) was established on June 23, 2003 and registered with the Administration of Industry and Commerce of Guangzhou Municipality under the registration number of 440106000264027. The
current registered capital of the Company is Renminbi 2,500,000 yuan (Say RMB Two Million Five Hundred Thousand Only). 

The shareholder of the Company Pan Weinian has contributed in total Renminbi 250,000 yuan (Say RMB Two Hundred Fifty Thousand
Only) to the Company as of June 10, 2010. 
 Guangzhou Shen Long Computer Technology Co., Ltd. (seal) 

September 6, 2010 

  
 23Severance Agreement

 Exhibit 10.162 

 

					
	 Employee
	  	Section 2.01 Base Salary
and Bonus
Multiplier	  	Section 2.03 Welfare
Benefit
Period
	 Fredric N. Eshelman
	  	3.0	  	2 years
	 David L. Grange
	  	3.0	  	2 years
	 William Sharbaugh
	  	2.0	  	2 years
	 Daniel G. Darazsdi
	  	2.0	  	2 years
	 Christine A. Dingivan
	  	2.0	  	2 years
	 Brainard Judd Hartman
	  	2.0	  	2 years
	 Michael O. Wilkinson
	  	1.0	  	1 year  
	 Edward J. Murray
	  	1.0	  	1 year  
	 Paul D. Colvin
	  	1.0	  	1 year  
	 Lee E. Babiss
	  	1.0	  	1 year  
	 Henrietta N. Ukwu
	  	1.0	  	1 year  
	 William W. Richardson
	  	1.0	  	1 year  
	 Sebastian Pacios Merino
	  	1.0	  	1 year  
	 Bruce A. Petersen
	  	1.0	  	1 year  
	 Susan Atkinson
	  	1.0	  	1 year  

 SEVERANCE AGREEMENT 

THIS AGREEMENT, effective the 1st day of January, 2001, by and between Pharmaceutical Product Development, Inc. and its subsidiaries and
affiliates (collectively, “PPD”) and              (“Employee”). 
 WHEREAS, Employee is a valued employee of PPD and in order to induce Employee to remain in the employ of PPD, PPD desires to provide the severance benefits hereinafter described in the event of a
“Change in Control”, as hereinafter defined, of PPD. 
 NOW, THEREFORE, it is agreed as follows: 

1. Definitions 
 1.01 “AFR” means the interest rate determined under Section 1274 of the Code. 
 1.02 “Base Amount” shall have the meaning set forth and shall be determined as provided in Section 280G of the Code. 

1.03 “Change in Control” means (i) a change of control of a nature that would be required to be
reported in response to Item 6(e) of Schedule 14A of Regulation 14A promulgated under the Securities Exchange Act of 1934, as amended (“Exchange Act”), provided that such a Change in Control shall be deemed to have occurred if any
“person” (as such term is used in Sections 13(d) and 14(d)(2) of the Exchange Act) is or becomes the beneficial owner, directly or indirectly, of securities of PPD representing 50% or more of the combined voting power of PPD’s then
outstanding securities; (ii) a sale of substantially all of the assets of PPD; or (iii) a liquidation of PPD. 
 1.04 “Constructive Termination” means a termination of Employee’s employment by PPD during the Covered Period initiated by Employee after (i) a substantial diminution or
alteration in the duties of Employee, (ii) a reduction by PPD in Employee’s base salary in effect on the date of the Change in Control, or (iii) the relocation of Employee’s primary work location to a location that is more than
twenty-five (25) miles from Employee’s primary work location prior to the Change in Control. Constructive Termination specifically does not include termination of Employee by reason of death, Disability or retirement at or after age 65.
Employee shall give PPD written notice of a Constructive Termination, which notice shall provide a brief 

 
description of the circumstances which Employee asserts gives rise to a right of Constructive Termination, and PPD shall have ten (10) days from receipt of said notice within which to remedy
said circumstances. 
 1.05 “Covered Payment” means the amounts and benefits paid to Employee
pursuant to this Agreement, taken together with any amounts or benefits otherwise paid or distributed to Employee by PPD. 
 1.06 “Covered Period” means the time period commencing on the date of and coincident with a Change of Control and ending one year thereafter. 

1.07 “Disability” means the inability of Employee to perform his assigned duties for PPD for a
period of three (3) months due to Employee’s physical or mental illness as determined by a reputable medical doctor. 
 1.08 “Excess Parachute Payment” shall have the meaning set forth and shall be determined as provided in Section 280G of the Code. 

1.09 “Excise Tax” shall mean the tax imposed under Section 4999 of the Code on an Excess Parachute
Payment. 
 1.10 “Executive Consultant” shall mean the executive compensation or comparable
consultant used from time to time by PPD in designing its compensation program for executive and senior management employees of PPD; provided, however, that in its sole discretion PPD may at any time designate its independent auditors as its
Executive Consultant for the purpose of performing any calculations required under Section 2.05 of this Agreement. 
 1.11 “Final Determination” means a final determination by a court of competent jurisdiction or a proceeding of the Internal Revenue Service or its successor agency. 

1.12 “First Period” means the twelve-month period ending on the Termination Date. 

1.13 “Internal Revenue Code” means the Internal Revenue Code of 1986 as heretofore or hereafter amended,
and any successor code. References in this agreement to specific sections of the Code shall also include any successor sections. 
 1.14 “Parachute Payments” shall have the meaning set forth and shall be determined as provided in Section 280G of the Code. 

1.15 “Payment Cap” means the maximum amount which may be paid to Employee under the terms of this
Agreement without subjecting Employee to the Excise Tax. 

 1.16 “Payment Date” means the date thirty (30) days
following the Termination Date. 
 1.17 “Stock Awards” means Employee’s outstanding awards
of PPD non-qualified stock options or restricted stock as of the Termination Date. 
 1.18 “Termination
for Cause” means (i) an act or acts involving fraud, embezzlement or theft from PPD, (ii) Employee’s willful and repeated failure to follow directions of the Board of Directors that continues for at least ten (10) days
following written notice of the Board of Directors of such failure to follow directions, or (iii) termination for cause as defined in and made pursuant to a then effective employment agreement, if any, between Employee and PPD. 

1.19 “Termination Date” means the date on which Employee’s employment is terminated such that
Employee is entitled to the compensation and benefits provided for in Section 2 of this Agreement. 
 2. Compensation
Upon Change of Control. If during the Covered Period (i) PPD terminates Employee’s employment for reason other than Termination for Cause or (ii) Employee’s employment is terminated by reason of Constructive Termination,
Employee shall be entitled to the following compensation and benefits: 
 2.01 Base Salary and Bonus. PPD
shall pay Employee an amount equal to              times the sum of Employee’s (i) base salary for the First Period (determined as if Employee was employed for the entire
First Period if employed for less than the First Period) and (ii) the greater of (x) Employee’s target bonus under the PPD incentive cash bonus plan in which Employee is eligible to participate immediately prior to the Termination
Date or (y) the average of the cash bonuses received in the First Period and in the twelve-month period immediately preceding the First Period, said amount to be paid on the Payment Date. 

2.02 Unpaid and Deferred Compensation. PPD shall pay Employee any bonus or deferred compensation (whether in the
form of cash, stock or otherwise) accrued but unpaid as of the Termination Date, said sum to be paid on the Payment Date. 
 2.03 Benefits. For a period of              after the Termination Date, PPD shall continue to pay for and provide welfare benefits
which Employee was receiving immediately prior to the Termination Date, including life insurance, health, medical, dental, vision and wellness, accidental death and dismemberment and disability benefits; provided, however, that PPD’s
obligations under this clause shall terminate from the date that Employee first becomes eligible after the Termination Date for similar coverage under another employer’s plan. 

2.04 Stock Awards. Notwithstanding anything to the contrary in any agreement for Stock Awards, (i) all
unvested shares underlying Stock Awards granted more than six months prior to the Termination Date shall become fully vested as of the 

 
Termination Date, and (ii) Employee shall continue to be treated under each award agreement evidencing a Stock Award as if Employee was an employee of PPD until the first to occur of
(x) the third anniversary of the Termination Date, or (y) the expiration of the exercise period provided for therein; provided, however, in the event of Employee’s death or his disability (as disability is defined in the award
agreement) after the Termination Date, the time for exercise after death or such disability prescribed in the award agreement shall apply. The provisions of this Section 2.04 shall also apply to any and all substitute awards for nonqualified
stock options and restricted stock granted to Employee in exchange for Stock Awards to which this section applies. 
 2.05 Limitation on Payments. 
 a. Application of
Section 2.05. If a Covered Payment hereunder would be an Excess Parachute Payment and would thereby subject Employee to the Excise Tax, the provisions of this Section 2.05 shall apply to determine the amounts payable to Employee
pursuant to this Agreement. 
 b. Calculation of Benefits. At least fifteen (15) days prior to the
Payment Date, PPD shall notify Employee of the aggregate present value of all amounts and benefits to which Employee would be entitled under this Agreement and any other plan, program or arrangement with PPD as of the Termination Date, together with
the projected maximum payments, determined as of such Date of Termination, that could be paid without Employee being subject to the Excise Tax. 
 c. Imposition of Payment Cap. If (i) the aggregate value of all amounts and benefits to which Employee would be entitled under this Agreement and any other plan, program or arrangement with
PPD exceeds the amount which can be paid to Employee without Employee incurring an Excise Tax and (ii) Employee would receive a greater net after-tax amount (taking into account all applicable taxes payable by Employee, including an Excise Tax)
by applying the limitation contained in this Section 2.05(c), then the amounts otherwise payable to Employee under this Section 2 shall be reduced to an amount equal to the Payment Cap. If Employee receives reduced payments and benefits
hereunder, Employee shall have the right to designate which of the payments and benefits otherwise provided for in this Agreement that Employee will receive in connection with the application of the Payment Cap. 

d. Application of Code Section 280G. The Executive Consultant shall determine whether any part of the Covered
Payment will be subject to the Excise Tax and the amount of such Excise Tax. For purposes of such determination, the Executive Consultant shall take into consideration and be guided by the following: 

(i) such Covered Payment will be treated as Parachute Payments and all Parachute Payments in excess of the Base
Amount shall be treated as subject to the Excise Tax, unless and except to the extent that in the good faith judgment of the Executive Consultant, PPD has a reasonable basis to conclude that such Covered Payment, in whole or in part, either do not
constitute Parachute Payments or represent 

 
reasonable compensation for personal services actually rendered (within the meaning of Section 280G of the Code) in excess of the Base Amount, or such Parachute Payments are otherwise not
subject to the Excise Tax, and 
 (ii) the value of any noncash benefits or any deferred payment or
benefit shall be determined by the Executive Consultant in accordance with the principles of Section 280G of the Code. 
 (e) Applicable Tax Rates. For purposes of determining whether Employee would receive a greater net after-tax benefit if the amounts payable under this Agreement are reduced in accordance with
Section 2.05(c), Employee shall be deemed to pay: 
 (i) federal income taxes at the highest
applicable marginal rate of federal income taxation for the calendar year in which the first amounts are to be paid hereunder, and 
 (ii) any applicable state and local income taxes at the highest applicable marginal rate of taxation for such calendar year, net of the maximum reduction in federal income taxes which could be
obtained from the deduction of such state or local taxes if paid in such year; 
 provided, however, that Employee may request
that such determination be made based on Employee’s individual tax circumstances, which shall govern such determination so long as Employee provides to the Executive Consultant such information and documents as the Executive Consultant shall
reasonably request to determine such individual circumstances. 
 (f) Adjustments in Respect to Payment
Cap. 
 (i) If Employee receives reduced payments and benefits under Section 2.05 or if
Section 2.05 is determined not to be applicable to Employee because the Executive Consultant concludes that Employee is not subject to any Excise Tax, and it is established pursuant to a Final Determination that, notwithstanding the good faith
of Employee and PPD in applying the terms of this Agreement, the aggregate Parachute Payments paid to Employee or for Employee’s benefit are in an amount that would result in Employee being subject to an Excise Tax and Employee would still be
subject to the Payment Cap under the provisions of Section 2.05(c), then the amount in excess of the Payment Cap shall be deemed for all purposes to be a loan to Employee made on the date of the receipt of such excess payment, which Employee
shall have an obligation to repay to PPD on demand, together with interest at the AFR, from the date of the payment hereunder to the date of repayment by Employee. 

(ii) If Section 2.05 is not applied to reduce Employee’s entitlements under this Section 2 because
the Executive Consultant determines that Employee would not receive a greater net after-tax benefit by applying Section 2.05 and 

 
it is established pursuant to a Final Determination that, notwithstanding the good faith of Employee and PPD in applying the terms of this Agreement, Employee would have received a greater net
after-tax benefit by subjecting Employee’s payments and benefits hereunder to the Payment Cap, then the aggregate Parachute Payments paid to Employee or for Employee’s benefit in excess of the Payment Cap shall be deemed for all purposes a
loan to Employee made on the date of receipt of such excess payments, which Employee shall have an obligation to repay to PPD on demand, together with interest at the AFR, from the date of payment hereunder to the date of repayment by Employee.

 (iii) If Employee receives reduced payments and benefits by reason of this Section 2.05 and it is
established pursuant to a Final Determination that Employee could have received a greater amount without exceeding the Payment Cap, then PPD shall promptly thereafter pay Employee the aggregate additional amount which could have been paid without
exceeding the Payment Cap, together with interest on such amount at the AFR, from the original payment due date to the date of actual payment by PPD. 
 3. Miscellaneous. 
 3.01 Successor-in-Interest.
PPD will require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or assets of PPD, to expressly assume and agree to perform this Agreement in the same
manner and to the same extent that PPD would be required to perform it if no succession had taken place. 

3.02 Binding Effect. This Agreement shall inure to the benefit of and be enforceable by Employee’s personal or
legal representatives, executives, administrators, successors, heirs, distributees, devisees and legatees. 

3.03 Notice. For purposes of this Agreement, notices and all other communications provided for in the Agreement
shall be in writing and shall be given (i) by certified mail, return receipt requested, postage prepaid, (ii) by personal delivery or (iii) by recognized overnight carrier, and shall be deemed received when actually received. Notices
shall be addressed as follows: 
  

					
	 If to PPD:
	  	Pharmaceutical Product Development, Inc.	  	
		  	929 North Front Street	  	
		  	Wilmington, North Carolina 28401	  	
		  	Attention: Chief Executive Officer	  	
	 If to Employee:
	  	 	  	
		  	 	  	
		  	 	  	
		  	 	  	

 Either party hereto may change the notice address by giving notice thereof in the manner
provided for herein. 
 3.04 Waiver. No waiver by either party hereto at any time of any breach by the
other party hereto of, or compliance with, any provision or condition of this Agreement to be performed by such other party shall be deemed a subsequent waiver of the same or similar provisions or conditions. 

3.05 Entire Agreement. No agreements or representations, oral or otherwise, expressed or implied, with respect to
the subject matter hereof have been made by either party which are not set forth expressly in this agreement, and this Agreement supersedes and replaces in its entirety all prior agreements and representations, expressed, implied, oral or otherwise,
made by PPD to or with Employee, including but not limited to that certain Severance Agreement dated              between PPD and Employee. 

3.06 Governing Law. This Agreement shall be governed by and interpreted under the laws of the State of North
Carolina. 
 3.07 Unenforceability. The invalidity or unenforceability of any provision of this Agreement
shall not affect the validity or enforceability of any other provision of this Agreement. 
 3.08
Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original but all of which together shall constitute one and the same instrument. 

3.09 Headings. Headings used in this Agreement are for convenience only and shall not be used to construe or
interpret this Agreement. 
 3.10 Enforcement by Employee. All legal expenses incurred by Employee in the
successful enforcement of any of the terms of this Agreement shall be paid by PPD. 
 IN WITNESS WHEREOF, the parties have
executed this Agreement effective the date first hereinabove set forth. 
  

									
	Pharmaceutical Product Development, Inc.	 		 	Employee
				
	By:	 	 	 		 	 
	Name:	 		 		 	Name:	 	
	Title:

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