Document:

Unassociated Document

THE SECURITIES REPRESENTED HEREBY HAVE BEEN OFFERED IN AN OFFSHORE TRANSACTION TO A PERSON WHO IS NOT A U.S. PERSON (AS DEFINED HEREIN) PURSUANT TO REGULATION S UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “1933 ACT”).

 

NONE OF THE SECURITIES REPRESENTED HEREBY HAVE BEEN REGISTERED UNDER THE 1933 ACT, OR ANY U.S. STATE SECURITIES LAWS, AND, UNLESS SO REGISTERED, MAY NOT BE OFFERED OR SOLD, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES (AS DEFINED HEREIN) OR TO U.S. PERSONS EXCEPT IN ACCORDANCE WITH THE PROVISIONS OF REGULATION S UNDER THE 1933 ACT, PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE 1933 ACT, OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE 1933 ACT AND IN EACH CASE ONLY IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS. IN ADDITION, HEDGING TRANSACTIONS INVOLVING THE SECURITIES MAY NOT BE CONDUCTED UNLESS IN COMPLIANCE WITH THE 1933 ACT. “UNITED STATES” AND “U.S. PERSON” ARE AS DEFINED BY REGULATION S UNDER THE 1933 ACT.

 

CHINA UNITED INSURANCE SERVICE, INC.

 

STOCK PURCHASE AGREEMENT

 

This Stock Purchase Agreement (“Agreement”) is made as Jan. 17th, 2011 by and between China United Insurance Service, Inc., a Delaware corporation (the “Company”), and the investors listed on Schedule A (together, the “Purchasers,” each, a “Purchaser”).

 

AGREEMENT

 

WHEREAS on September 20, 2010 the Purchasers collectively invested $300,000 (the “Capital Contribution”) into the capital account of [Zhengzhou Zhonglian Hengfu Consulting Co., Ltd.] (“WOFE”) in the amounts indicated on Schedule A;

 

WHEREAS WOFE is a consolidated affiliate controlled by the Company;

 

WHEREAS the Company agreed, at the time of the Capital Contribution, to issue 20,000,000 shares of the Company’s common stock $0.00001 per share (the “ Common Stock”), to the Purchasers in the amounts designated in Schedule A (the “Shares”) as consideration for the Capital Contribution (the “Shares”);

 

  

  

  

 

WHEREAS the Company and the Purchasers desire to memorialize the purchase of the Shares, and issue the share certificates representing the Shares to the Purchasers.

 

It is agreed as follows:

 

	
  

	
1.

	
PURCHASE AND SALE OF SHARES.

 

1.1 Purchase and Sale.  In consideration for the Capital Contribution previously received and in reliance upon the representations and warranties of the Company and Purchasers contained herein and subject to the terms and conditions set forth herein, at the Closing, the Company shall issue the Shares to the Purchasers in the share amounts indicated on Schedule A.

 

	
  

	
2.

	
CLOSING.

 

2.1 Date and Time.  The closing of the sale of Shares contemplated by this Agreement (the “Closing”) with respect to each Purchaser shall occur upon satisfaction of the conditions set forth in Sections 2.2.1 and 2.3.1.   The obligations of the Company and each Purchaser shall not be conditioned on the satisfaction of the conditions set forth in Section 2.2.1 by any other Purchaser.

 

2.2 Deliveries by Purchaser.  The Purchaser shall deliver the following at the Closing:

 

2.2.1 an executed copy of this Agreement.

 

2.3 Deliveries by Company.  As soon as practicable after closing, the Company will deliver the following to the Purchasers:

 

2.3.1 an executed copy of this Agreement.

 

2.3.2  share certificates representing the Shares purchased by such Purchaser, with each such Share being in definitive form and registered in the name of the Purchasers set forth in Schedule A.  Any instructions for registration of the Shares in a name other than that of the Purchaser shall require such registered owner to affirm the Purchaser’s warranties and representations and covenants set forth herein.

 

	
  

	
3.

	
REPRESENTATIONS AND WARRANTIES OF THE COMPANY.

 

As a material inducement to the Purchasers to enter into this Agreement, the Company represents and warrants that the following statements are true and correct in all material respects as of the date hereof and will be true and correct in all material respects at Closing, except as expressly qualified or modified herein.

 

  

  

  

 

3.1 Organization and Good Standing.  The Company is a corporation duly organized, validly existing, and in good standing under the laws of the State of Delaware and has full corporate power and authority to enter into and perform its obligations under this Agreement.

 

3.2 Validity of Transactions.  This Agreement, and each document executed and delivered by the Company in connection with the transactions contemplated by this Agreement, have been duly authorized, executed and delivered by the Company and is each the valid and legally binding obligation of the Company.

 

3.3 Valid Issuance of Shares.  The Shares that are being issued to Purchasers hereunder, when issued, and delivered in accordance with the terms hereof for the consideration expressed herein, will be duly and validly issued, fully paid and nonassessable and free of restrictions on transfer, other than restrictions on transfer under this Agreement and under applicable federal and state securities laws, and will be free of all other liens and adverse claims.

 

3.4 No Violation.  The execution, delivery and performance of this Agreement will not violate any law or any order of any court or government agency applicable to the Company, as the case may be, or the Articles of Incorporation or Bylaws of the Company.

 

3.5    Stop Transfer.  The Company shall refuse to register any transfer of the Shares not made in accordance with Regulation S, pursuant to registration under the 1933 Act, or pursuant to an exemption from registration under the 1933 Act.

 

	
  

	
4.

	
REPRESENTATIONS AND WARRANTIES OF THE PURCHASER.

 

Each Purchaser hereby represents, warrants and covenants with the Company as follows:

 

4.1 Capacity.  The Purchaser has the requisite capacity to enter into this Agreement, to purchase the Shares hereunder, and to carry out and perform its obligations under the terms of this Agreement.

 

4.2 Due Execution.  This Agreement has been duly executed and delivered by the Purchaser, and, upon due execution and delivery by the Company, this Agreement will be valid and binding agreement of the Purchaser.

 

4.3 Access to Information.  The Purchaser has been given full and complete access to the Company for the purpose of obtaining such information as the Purchaser or its qualified representative has reasonably requested in connection with the decision to purchase the Shares.  The Purchaser has been afforded the opportunity to ask questions of the officers of the Company regarding its business prospects and the Shares, all as the Purchaser or its qualified representative have found necessary to make an informed investment decision to purchase the Shares.

 

  

  

  

 

4.4 No 1933 Act Registration.  The Purchaser has been advised that the Shares have not been registered under the 1933 Act or applicable state securities laws and that the Shares are being offered and sold pursuant to Regulation S under the 1933 Act and that the Company’s reliance upon Regulation S is predicated in part on the Purchaser’s representations as contained herein.

 

4.5 Investment Intent.  The Purchaser is acquiring the Shares for the Purchaser’s own account, not as a nominee or agent, for investment and not with a view to or for resale in connection with any distribution or public offering thereof within the meaning of the 1933 Act, except pursuant to an effective registration statement under the 1933 Act and the Purchaser has no present intent of selling or otherwise distributing the Shares, except in compliance with applicable securities laws.

 

4.6 Non U.S. Person.  The Purchaser hereby certifies that he is not a U.S. Person (as defined in Regulation S) and is not acquiring the Shares for the account or benefit of any U.S. Person.  At the time of the origination of contact concerning this Agreement, and at the date of execution and delivery of this Agreement, the Purchaser was outside the United States, its territories and possessions.

 

4.7 Transfer Restrictions.  The Purchaser shall not attempt to have registered any transfer of the Shares not made in accordance with the provisions of Regulation S.  In addition to any other restrictions on transfer set forth in this Agreement, the Purchaser agrees to transfer the Shares only in accordance with the provisions of Regulation S, pursuant to registration under the Securities Act, or pursuant to an available exemption from registration, and in accordance with any applicable state securities laws, and not to engage in hedging transactions with regard to the Shares unless in compliance with the Securities Act. Unless so registered or exempt therefrom, such transfer restrictions shall include but not be limited to, and the Purchaser certifies to the following:

 

(i) The Purchaser shall not sell the Shares publicly or privately, or through any short sale, or other hedging transaction to any U.S. Person, whether directly or indirectly, or for the account or benefit of any such U.S. Person for the restricted period mandated by Regulation S after the purchase of the Shares unless registered or exempt from registration;

 

(ii) The Purchaser shall not engage in any hedging transactions with respect with the Company’s shares unless in compliance with the Securities Act.

 

(iii) Any other offer or sale of the Shares shall be made only if (A) during the restricted period any subsequent purchaser certifies in writing that it is not a U.S. Person and is not acquiring the Shares for the account or benefit of any U.S.  Person, or (B) after the restricted period the Shares are purchased in a transaction that did not require registration under the Securities Act and applicable Blue Sky laws; and

  

  

  

 

(iv) Any transferee of the Shares who acquires the Shares during the Regulation S restricted period shall agree in writing to resell the Shares only in accordance with the provisions of Regulation S, pursuant to registration under the Securities Act, or pursuant to an available exemption from registration.

4.8 Directed Selling Efforts.  Neither the Purchaser, its affiliates or any person acting on behalf of the Purchaser or any such affiliates has engaged, or will engage, in any Directed Selling Efforts (as defined in Regulation S under 1933 Act) with respect to the Shares or any distribution, as that term is used in the definition of Distributor in Regulation S under the 1933 Act, with respect to the Shares which would include any activities undertaken for the purpose of, or that could reasonably be expected to have the effect of, conditioning the market in the United States for the resale of any of the Shares.

 

4.9 No Solicitation.  Neither the Company nor any person acting on its behalf made to the Purchaser or any person acting on its behalf in the United States any statement conveying a purpose or intent to sell the Shares to the Purchaser.  The Purchaser was outside the United States, its territories, and possessions at the time of the execution of this Agreement.

 

4.10 No Market Conditioning.  Neither the Purchaser, any affiliate of the Purchaser, nor any person acting on their behalf has undertaken or carried out any activity for the purpose of, or that could reasonably be expected to have the effect of, conditioning the market in the United States, its territories or possessions, for any of the Shares.

 

4.11 No Scheme.  The transactions contemplated by this Agreement:

 

(a)           have not been pre-arranged with a purchaser located in the United States, its territories or possessions, or who is a U.S. Person; and

 

(b)           are not part of a plan or scheme to evade the registration provisions of the 1933 Act.

 

4.12 No Nominee.  The Purchaser is purchasing the Shares for its own account for the purpose of investment and not (A) with a view to, or for sale in connection with, any distribution thereof, or (B) for the account of or on behalf of any U.S. Person.

 

4.13 No Groups.  The Purchaser is not an entity or group that has been formed principally for the purpose of investing in securities not registered under the 1933 Act.

 

4.14 Legend.  The Purchaser understands that the Shares have not been registered under the 1933 Act and may not be transferred or resold except pursuant to an effective registration statement or exemption from registration and each certificate representing the Shares will be endorsed with the following legend:

 

“THE SECURITIES ARE BEING OFFERED TO INVESTORS WHO ARE NOT U.S. PERSONS (AS DEFINED IN REGULATION S UNDER THE SECURITIES ACT OF 1933, AS AMENDED (“SECURITIES ACT”)) AND WITHOUT REGISTRATION WITH THE UNITED STATES SECURITIES AND EXCHANGE COMMISSION UNDER THE SECURITIES ACT IN RELIANCE UPON REGULATION S PROMULGATED UNDER THE SECURITIES ACT.”

 

  

  

  

 

“TRANSFER OF THESE SECURITIES IS PROHIBITED, EXCEPT IN ACCORDANCE WITH THE PROVISIONS OF REGULATION S, PURSUANT TO REGISTRATION UNDER THE SECURITIES ACT, OR PURSUANT TO AVAILABLE EXEMPTION FROM REGISTRATION.  HEDGING TRANSACTIONS MAY NOT BE CONDUCTED UNLESS IN COMPLIANCE WITH THE SECURITIES ACT.” 

 

4.15 Stop Transfer.  The Purchaser agrees that the Company shall refuse to register any transfer of the Shares not made in accordance with Regulation S, pursuant to registration under the 1933 Act, or pursuant to an exemption from registration under the 1933 Act, and that the Company may place a stop transfer order with its registrar and stock transfer agent (if any) covering all certificates representing the Shares.

 

4.16 Economic Risk.  The Purchaser can bear the economic risk of an investment in the Shares, including the total loss of such investment.

 

4.17 Suitability.  The Purchaser believes, in light of the information provided in this Agreement, the purchase of the Shares pursuant to the terms of this agreement is an appropriate and suitable investment for the Purchaser.

 

4.18 Investment Knowledge and Experience.  The Purchaser is experienced and knowledgeable in financial and business matters, capable of evaluating the merits and risks of purchasing the securities offered herein by the Company.

 

4.19 Non-Contravention.  The purchase of the Shares by the Purchaser does not contravene any of the applicable securities legislation in the jurisdiction in which the Purchaser resides and does not trigger:  (i) any obligation to prepare and file a prospectus or similar document or any other report with respect to the purchase, or (ii) any registration requirement or other securities compliance obligation on the part of the Company.

 

	
  

	
5.

	
MISCELLANEOUS.

 

5.1 Governing Law.  This Agreement shall be governed by and construed under the laws of the State of Delaware.

 

5.2 Successors and Assigns.  Except as otherwise expressly provided herein, the provisions hereof shall inure to the benefit of, and be binding upon, the successors, assigns, heirs, executors, and administrators of the parties hereto.

 

5.3 Entire Agreement.  This Agreement and the other documents delivered pursuant hereto constitute the full and entire understanding and agreement among the parties with regard to the subjects hereof and no party shall be liable or bound to any other party in any manner by any representations, warranties, covenants, or agreements except as specifically set forth herein or therein.  Nothing in this Agreement, express or implied, is intended to confer upon any party, other than the parties hereto and their respective successors and assigns, any rights, remedies, obligations, or liabilities under or by reason of this Agreement, except as expressly provided herein.

 

  

  

  

 

5.4 Notices.  All notices and other communications required or permitted hereunder shall be in writing and shall be effective when delivered personally, or sent by telex or telecopier (with receipt confirmed), provided that a copy is mailed by registered mail, return receipt requested, or when received by the addressee, if sent by Express Mail, Federal Express or other express delivery service (receipt requested) in each case to the appropriate address set forth below:

 

	
If to the Company:

	
China United Insurance Service, Inc.

	  	
[Building 4F, Hesheng Plaza, No. 26 Yousheng South Road, Jinshui District, Zhengzhou, Henan]

	  	  
	
If to the Purchaser:

	
Appropriate address identified in Schedule A.

 

5.5 Faxes and Counterparts.  This Agreement may be executed in one or more counterparts.  Delivery of an executed counterpart of the Agreement by facsimile transmission shall be equally as effective as delivery of an executed hard copy of the same.

 

[Signature page follows] 

 

  

  

  

 

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first set forth above

 

	  	
THE PURCHASERS:

	  	  
	  	
Yi-Hsiao Mao

	  	
Name: Yi-Hsiao Mao

	  	  
	  	
Shu-Fen Lee

	  	
Name: Shu-Fen Lee

	  	  
	  	

Li Chien Mao

	  	
Name: Li Chien Mao

	  	  
	  	

 
Yu-Lang Chen

	  	
Name: Yu-Lang Chen

	  	  
	  	
Yon Chin Shin

	  	
Name: Yon Chin Shin

	  	  
	  	

Ling-Fen Ma

	  	
Name: Ling-Fen Ma

	  	  
	  	
Hui-Hsien Chso

	  	
Name: Hui-Hsien Chso

	  	  
	  	
Ming-Na Chuang

	  	
Name: Ming-Na Chuang

	  	  
	  	
Wen-Ti Tu

	  	
Name: Wen-Ti Tu

	  	  
	  	
Wen-Che Shen

	  	
Name: Wen-Che Shen

	  	  
	  	
Tung-Chi Hsieh

	  	
Name: Tung-Chi Hsieh

	  	  
	  	
Te-Yun Chiang

	  	
Name: Te-Yun Chiang

	  	  
	  	
Li-Hsun Chin

	  	
Name: Li-Hsun Chin

	  	  
	  	
Chwan-Hau Li

	  	
Name: Chwan-Hau Li

	  	  
	  	
Shiu-Fang Tsai

	  	
Name: Shui-Fang Tsai

 

  

  

  

 

	  	
Yueh-Hsia Chiu

	  	
Name: Yueh-Hsia Chiu

	  	  
	  	
Ya-Ting Chen

	  	
Name: Ya-Ting Chen

	  	  
	  	
Li-Ching Liu

	  	
Name: Li-Ching Liu

	  	  
	  	
Hsiang-Lin Li

	  	
Name: Hsiang-Lin Li

	  	  
	  	
Yueh-Ping Szu

	  	
Name: Yueh-Ping Szu

	  	  
	  	
Chung-Mei Lo

	  	
Name: Chung-Mei Lo

	  	  
	  	
Shu-Ching Liu

	  	
Name: Shu-Ching Liu

	  	  
	  	
Po-Tuan Hsiao

	  	
Name: Po-Tuan Hsiao

	  	  
	  	
Tung-Lin u

	  	
Name: Tung-Lin u

	  	  
	  	
Chu-Ying Tseng

	  	
Name: Chu-Ying Tseng

	  	  
	  	
Wen-Hsuan Liu

	  	
Name: Wen-Hsuan Liu

	  	  
	  	
Chia-Tzu Liu

	  	
Name: Chia-Tzu Liu

	 	 
	 	Fu-Chang Li 
	 	Name: Fu-Chang Li
	  	  
	  	
Hsueh-Heng Chen

	  	
Name: Hsueh-Heng Chen

	  	  
	  	
CHUNG-HSI HUANG

	  	
Name: CHUNG-HSI HUANG

	  	  
	  	
I-Fa Chang

	  	
Name: I-Fa Chang

 

  

  

  

 

	  	
CHANG, KUNG-HSIUNG

	  	
Name: CHANG, KUNG-HSIUNG

	  	  
	  	
SHIH-KUANG LUE

	  	
Name: SHIH-KUANG LUE

	  	  
	  	
HAI-LUNG HUANG

	  	
Name: HAI-LUNG HUANG

	  	  
	  	
Zheng Yang

	  	
Name: Zheng Yang

	  	  
	  	
Shi Wen

	  	
Name: Shi Wen

	  	  
	  	
Yuejiao Zhao

	  	
Name: Yuejiao Zhao

	  	  
	  	
Tzu-En Hsu

	  	
Name: Tzu-En Hsu

	  	  
	  	
Jui-Yuan Yen

	  	
Name: Jui-Yuan Yen

	  	  
	  	
Yuan-Fu Chang

	  	
Name: Yuan-Fu Chang

	  	  
	  	
Lipei Zhang

	  	
Name: Lipei Zhang

	  	  
	  	
Jianhua Tang

	  	
Name: Jianhua Tang

	  	  
	  	
Zhongxiang Zeng

	  	
Name: Zhongxiang Zeng

	  	  
	  	
Pi-Hui Chang

	  	
Name: Pi-Hui Chang

 

  

  

  

 

	  	THE COMPANY:

CHINA UNITED INSURANCE SERVICE,

INC.
	 	 	 
	  	By: 	
MAO, YI-HSIAO

	  	Name: 	
MAO, YI-HSIAO

	  	 	
Chief Executive OfficeExclusive Business Cooperation Agreement

This Exclusive Business Cooperation Agreement (this “Agreement”) is made and entered into by and between the following parties on Jan.17th, 2011 in Zhengzhou, the People’s Republic of China (“China” or the “PRC”).

	
Party A:

	
Zhengzhou Zhonglian Hengfu Business Consulting Co., Ltd.

	
Address:

	
Building 5G, Hesheng Plaza, No. 26 Yousheng South Road, Jinshui District, Zhengzhou, Henan

	
Party B:

	
Henan  Law Anhou Insurance Agency Co., Ltd.

	
Address:

	
Building 4F, Hesheng Plaza, No. 26 Yousheng South Road, Jinshui District, Zhengzhou, Henan

Each of Party A and Party B shall be hereinafter referred to as a “Party” respectively, and as the “Parties” collectively.

Whereas:

	
1.

	
Party A is a wholly foreign owned enterprise established in China, and has a team of professionals specialized in insurance technology, risk consultation, appraisal management, finance, taxation and has experience in management of enterprise organization and operation planning;

	
2.

	
Party B is an insurance agency firm duly incorporated under PRC laws and the relevant regulations of the China Insurance Regulatory Commission, specialized in insurance agency and insurance consulting services (the “Principal Business”);

	
3.

	
Party A is willing to provide Party B with technical support, consulting services and other commercial services on exclusive basis in relation to the Principal Business during the term of this Agreement, utilizing its advantages in technology, human resources and information, and Party B is willing to accept such services provided by Party A or Party A's designee(s), each on the terms set forth herein.

Now, therefore, through mutual discussion, the Parties have reached the following agreements:

	
1.

	
Services Provided by Party A 

	
  

	
1.1

	
Party B hereby appoints Party A as Party B's exclusive services provider to provide Party B with complete technical support, business support and related consulting services during the term of this Agreement, in accordance with the terms and conditions of this Agreement, which may include all necessary services related to the Principal Business of Party B, details of which are set forth in the Annex A attached hereto.

  

1

  

	
  

	
1.2

	
Party B agrees to accept all the consultations and services provided by Party A. Party B further agrees that unless with Party A's prior written consent, during the term of this Agreement, Party B shall not directly or indirectly accept the same or any similar consultations and/or services provided by any third party and shall not establish similar cooperation relationship with any third party regarding the matters contemplated by this Agreement. Party A may appoint other parties, who may enter into certain agreements described in Section 1.3 with Party B, to provide Party B with the consultations and/or services under this Agreement.

	
  

	
1.3

	
Service Providing Methodology

	
  

	
1.3.1

	
Party A and Party B agree that during the term of this Agreement, where necessary, Party B may enter into further technical service agreements or consulting service agreements with Party A or any other party designated by Party A, which shall provide the specific contents, manner, personnel, and fees for the specific technical services and consulting services.

	
  

	
1.3.2

	
To fulfill this Agreement, Party A and Party B agree that Party A can provide relevant equipments to Party B for Party B’s use for the purpose of providing services to Party B.

	
2.

	
The Calculation, Payment and Adjustment of the Service Fees 

	
  

	
2.1

	
Both Parties agree that the service fees under this Agreement (the “Service Fee”) is calculated and paid in the manner as set forth in the Annex B attached hereto.

	
  

	
2.2

	
Both Parties agree that to the extent that Party B requests Party A to provide any services beyond those listed in the Annex A, both Parties shall negotiate in good faith for the amount of the additional service fee corresponding to the extra services requested, depending on the specific service contents and market conditions.

	
  

	
2.3

	
Depending on the market condition and business development of Party B, the Parties may review and adjust the specific service contents as well as the calculation and payment terms of the Service Fee on an annual basis through mutual agreement.

	
3.

	
Intellectual Property Rights and Confidentiality Clauses 

	
  

	
3.1

	
Party A shall have exclusive and proprietary rights and interests in all rights, ownership, interests and intellectual properties arising out of or created during the performance of this Agreement, including but not limited to copyrights, patents, patent applications, software, technical secrets, trade secrets and others. Party B shall execute all appropriate documents, take all appropriate actions, submit all filings and/or applications, render all appropriate assistance and otherwise conduct whatever is necessary as deemed by Party A in its sole discretion for the purposes of vesting any ownership, right or interest of any such intellectual property rights in Party A, and/or perfecting the protections for any such intellectual property rights in Party A.

  

2

  

	
  

	
3.2

	
The Parties acknowledge that the existence and the terms of this Agreement and any oral or written information exchanged between the Parties in connection with the preparation and performance this Agreement are regarded as confidential information. Each Party shall maintain confidentiality of all such confidential information, and without obtaining the written consent of the other Party, it shall not disclose any relevant confidential information to any third parties, except for the information that: (a) is in the public domain (other than through the receiving Party’s unauthorized disclosure); (b) is under the obligation to be disclosed pursuant to the applicable laws or regulations, rules of any stock exchange, or orders of the court or other government authorities; or (c) is required to be disclosed by any Party to its shareholders, investors, legal counsels or financial advisors regarding the transaction contemplated hereunder, provided that such shareholders, investors, legal counsels or financial advisors shall be bound by the confidentiality obligations similar to those set forth in this Section. Disclosure of any confidential information by the staff members or agencies hired by any Party shall be deemed disclosure of such confidential information by such Party, which Party shall be held liable for breach of this Agreement. This Section shall survive the termination of this Agreement for any reason.

	
  

	
3.3

	
The Parties agree that this Section shall survive changes to, and rescission or termination of, this Agreement.

	
4.

	
Representations and Warranties 

	
  

	
4.1

	
Party A hereby represents and warrants as follows:

	
  

	
4.1.1

	
Party A is a wholly owned foreign enterprise legally registered and validly existing in accordance with the laws of PRC.

	
  

	
4.1.2

	
Party A has taken all necessary corporate actions, obtained all necessary authorization and consent and approval from third parties and government agencies (if any) for the execution, delivery and performance of this Agreement. Party A’s execution, delivery and performance of this Agreement do not violate any explicit requirements under any law or regulation binding on Party A.

	
  

	
4.1.3

	
This Agreement constitutes Party A's legal, valid and binding obligations, enforceable in accordance with its terms.

  

3

  

	
  

	
4.2

	
Party B hereby represents and warrants as follows:

	
  

	
4.2.1

	
Party B is a company legally registered and validly existing in accordance with the laws of PRC and has obtained the relevant permit and license for engaging in the Principal Business in a timely manner.

	
  

	
4.2.2

	
Party B has taken all necessary corporate actions, obtained all necessary authorization and consent and approval from third parties and government agencies (if any) for the execution, delivery and performance of this Agreement. Party B’s execution, delivery and performance of this Agreement do not violate any explicit requirements under any law or regulation binding on Party B.

	
  

	
4.2.3

	
This Agreement constitutes Party B's legal, valid and binding obligations, and shall be enforceable against it.

	
5.

	
Effectiveness and Term 

	
  

	
5.1

	
This Agreement is executed on the date first above written and shall take effect as of such date. Unless earlier terminated in accordance with the provisions of this Agreement or relevant agreements separately executed between the Parties, the term of this Agreement shall be 10 years. Subsequent to the execution of this Agreement, both Parties shall review this Agreement on an annual basis to determine whether to amend or supplement the provisions in this Agreement based on the actual circumstances at that time.

	
  

	
5.2

	
The term of this Agreement may be extended if confirmed in writing by Party A prior to the expiration thereof. The extended term shall be determined by Party A, and Party B shall accept such extended term unconditionally.

	
6.

	
Termination 

	
  

	
6.1

	
Unless renewed in accordance with the relevant terms of this Agreement, this Agreement shall be terminated upon the date of expiration hereof.

	
  

	
6.2

	
During the term of this Agreement, unless Party A commits gross negligence, or a fraudulent act, against Party B, Party B may not terminate this Agreement prior to its expiration date. Nevertheless, Party A shall have the right to terminate this Agreement upon giving 30 days' prior written notice to Party B at any time.

	
  

	
6.3

	
The rights and obligations of the Parties under Articles 3, 7 and 8 shall survive the termination of this Agreement.

  

4

  

	
7.

	
Governing Law and Resolution of Disputes 

	
  

	
7.1

	
The execution, effectiveness, construction, performance, amendment and termination of this Agreement and the resolution of disputes hereunder shall be governed by the laws of PRC.

	
  

	
7.2

	
In the event of any dispute with respect to the construction and performance of this Agreement, the Parties shall first resolve the dispute through friendly negotiations. In the event the Parties fail to reach an agreement on the dispute within 30 days after either Party's request to the other Parties for resolution of the dispute through negotiations, either Party may submit the relevant dispute to the China International Economic and Trade Arbitration Commission for arbitration, in accordance with its Arbitration Rules. The arbitration shall be conducted in Beijing, and the language used in arbitration shall be Chinese. The arbitration award shall be final and binding on the Parties.

	
  

	
7.3

	
Upon the occurrence of any disputes arising from the construction and performance of this Agreement or during the pending arbitration of any dispute, except for the matters under dispute, the Parties to this Agreement shall continue to exercise their respective rights under this Agreement and perform their respective obligations under this Agreement.

	
8.

	
Indemnification 

Party B shall indemnify and hold harmless Party A from any losses, injuries, obligations or expenses caused by any lawsuit, claims or other demands against Party A arising from or caused by the consultations and services provided by Party A to Party B pursuant this Agreement, except where such losses, injuries, obligations or expenses arise from the gross negligence or willful misconduct of Party A.

	
9.

	
Notices 

	
  

	
9.1

	
All notices and other communications required or permitted to be given pursuant to this Agreement shall be delivered personally or sent by registered mail, postage prepaid, by a commercial courier service or by facsimile transmission to the address of such Party set forth below. A confirmation copy of each notice shall also be sent by email. The dates on which notices shall be deemed to have been effectively given shall be determined as follows:

	
  

	
9.1.1

	
Notices given by personal delivery, by courier service or by registered mail, postage prepaid, shall be deemed effectively given on the date of receipt or refusal at the address specified for receiving notices in this Article 9.

  

5

  

	 	
9.1.2

	
Notices given by facsimile transmission shall be deemed effectively given on the date of successful transmission (as evidenced by an automatically generated confirmation of transmission).

	
  

	
9.2

	
For the purpose of notices, the addresses of the Parties are as follows:

	 	
Party A:

	
Zhengzhou Zhonglian Hengfu Business Consulting Co., Ltd.

	 	
Address: 

	
Building 5G, Hesheng Plaza, No. 26 Yousheng South Road,

Jinshui District, Zhengzhou, Henan

	 	
Attn: 

	
MAO, YI-HSIAO

	 	
Tel:

	
+86371-60277673

	 	
PartyB:

	
Henan Law Anhou Insurance Agency Co., Ltd.

	 	
Address: 

	
Building 4F, Hesheng Plaza, No. 26 Yousheng South Road,

Jinshui District, Zhengzhou, Henan

	 	
Attn:

	
LI, FU-CHANG

	 	
Facsimile: 

	
+86371-63976529

	
  

	
9.3

	
Any Party may at any time change its address for notices by a notice delivered to the other Party in accordance with the terms hereof.

	
10.

	
Assignment 

	
  

	
10.1

	
Without Party A's prior written consent, Party B may not assign its rights and obligations under this Agreement to any third party.

	
  

	
10.2

	
Party B agrees that Party A may assign its obligations and rights under this Agreement to any third party upon a prior written notice to Party B but without the consent of Party B.

	
11.

	
Severability 

In the event that one or several of the provisions of this Agreement are found to be invalid, illegal or unenforceable in any aspect in accordance with any laws or regulations, the validity, legality or enforceability of the remaining provisions of this Agreement shall not be affected or compromised in any aspect. The Parties shall strive in good faith to replace such invalid, illegal or unenforceable provisions with effective provisions that accomplish to the greatest extent permitted by law and the intentions of the Parties, and the economic effect of such effective provisions shall be as close as possible to the economic effect of those invalid, illegal or unenforceable provisions.

	
12.

	
Amendments and Supplements

Any amendments and supplements to this Agreement shall be in writing. The amendment agreements and supplementary agreements that have been signed by the Parties and that relate to this Agreement shall be an integral part of this Agreement and shall have the same legal validity as this Agreement.

  

6

  

	
13.

	
Counterparts

This Agreement is executed in two copies, each Party having one copy with equal legal validity.

[SIGNATURE PAGE FOLLOW]

  

7

  

 

IN WITNESS WHEREOF, the Parties have caused their authorized representatives to execute this Exclusive Business Cooperation Agreement as of the date first above written.

 

Party A: Zhengzhou Zhonglian Hengfu Business Consulting Co., Ltd.

	
By:

	
MAO, YI-HSIAO

	
Name:  

	
MAO, YI-HSIAO

	
Title:

	
Legal Representative

Party B: Henan Law Anhou Insurance Agency Co., Ltd.

	
By:

	
LI FU-CHANG

	
Name:  

	
LI FU-CHANG

	
Title:

	
Legal Representative

[Signature Page to Exclusive Business Cooperation Agreement]

  

8

  

Annex A

Scope of Services

	
(1)

	
Insurance premium internal control management;

	
(2)

	
Insurance risk assessment and consultation;

	
(3)

	
Insurance customer resources and customer relationship management;

	
(4)

	
Staff training;

	
(5)

	
Finance and taxation consultation;

	
(6)

	
License of the software necessary to Party B’s Principal Business, which Party A has legal right;

	
(7)

	
Provision of plan of operation and solution related to information technology/management necessary to Party B’s Principal Business;

	
(8)

	
Daily operation, maintenance and update of the hardware and database or software;

	
(9)

	
Development, maintenance and update of the software necessary to Party B’s Principal Business;

	
(10)

	
Assistance in collection of technology information or industry research;

	
(11)

	
Consultancy services related to marketing and management of assets (including but not limited to tangible assets and intangible assets such as trademarks, technology, goodwill and public relation);

	
(12)

	
Corporate image design and promotion;

	
(13)

	
Consultancy services related to management of human resource and internal administration;

	
(14)

	
Provision of consultancy services and other business and operation related to consultancy services; and

	
(15)

	
Other services provided from time to time as required by Party B.

  

9

  

Annex B

Calculation of Service Fee

Both Parties agree that, in consideration of the services provided by Party A, Party B shall pay Party A fees (the “Service Fees”) equal to 90% of the net income of Party B, which equals the balance of the gross income less the costs of Party B acceptable to the Parties (the “Net Income”). The Service Fees shall be due and payable on a quarterly basis. Within 30 days after the end of the corresponding quarter, Party B shall (a) deliver to Party A the management accounts and operating statistics of Party B for such quarter, including the Net Income of Party B during such quarter (the “Quarterly Net Income”), and (b) pay 90% of such Quarterly Net Income to Party A (each such payment, a “Quarterly Payment”). Within ninety (90) days after the end of each fiscal year, Party B shall (a) deliver to Party A audited financial statements of Party B for such fiscal year, which shall be audited and certified by an independent certified public accountant approved by Party A, and (b) pay an amount to Party A equal to the shortfall, if any, of the aggregate net income of Party B for such fiscal year, as shown in such audited financial statements, as compared to the aggregate amount of the Quarterly Payments paid by Party B to Party A in such fiscal year. Party A and Party B further agree that, according to the actual cooperation between Party A and Party B and the revenue and expenditure situation of Party B, the Parties may adjust the calculation ratio of the Service Fees provided herein through mutual agreement, and Party A is entitled to determine, in its sole discretion, whether to permit Party B to defer the payment of part or all of the Service Fees under certain particular circumstances.

  

10

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00189-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00189-of-00352.parquet"}]]