Document:

Unassociated Document

    Exhibit
      10.1

     

    AMENDMENT
      TO LOAN AGREEMENT

    

    This
      Amendment dated as of the 12th
      day of
      June, 2007, by and between COMPENSATION
      RISK MANAGERS, LLC.,
      a New
      York limited liability company with offices at 112 Delafield Street,
      Poughkeepsie, New York 12601 (“Borrower”) and KEYBANK
      NATIONAL ASSOCIATION,
      a
      national banking association with offices at 4910 Tiedeman Road, OH-01-51-0541,
      Brooklyn, Ohio 44144 ("Lender") to that certain Amended and Restated Loan
      Agreement dated October 3, 2005 between Borrower and Lender (the
“Agreement”).

    

    W
      I T N E
      S S E T H :

    

    WHEREAS,
      pursuant to the Agreement, Lender made available to Borrower a revolving credit
      facility in the maximum principal amount of $5,000,000.00, and

    

    WHEREAS,
      Borrower and Lender have agreed to increase and extend said revolving credit
      facility,

    

    NOW,
      THEREFORE, in consideration of the mutual covenants herein contained, Borrower
      and Lender, incorporating the defined terms used in the Agreement, hereby amend
      the Agreement as follows:

    

    
      	1.	
              Section
                2.1. Revolving
                Credit Facility.
                The Loan is amended to provide as
                follows:

            

    

    

    
      	 	
              a.

            	
              the
                principal amount shall be increased to $7,000,000.00.
                

            

      	 	 	 

      	 	b. 	the sublimit for Letters of Credit shall be
              $2,000,000.00. 

    

     

    
      	2.	
              Section
                2.2. Term
                of Facility. The
                Loan, if not sooner demanded, shall mature and become due and payable
                on
                June 30, 2008. 

            

    

     

    
      	3.	
              Section
                2.5. Draw
                Fee. The
                Borrower will pay a fee equal to 1.50% per annum of the amount requested
                for each Letter of Credit, calculated from the time issued until
                the
                current expiration date of the
                Loan.

            

    

     

    Except
      as
      hereby amended, the Agreement shall remain in full force and
      effect.

    

    IN
      WITNESS WHEREOF, Borrower and Lender have executed this Amendment as of the
      date
      first hereinabove set forth.

    

    

      
        	COMPENSATION
                RISK MANAGERS,
                LLC	 	KEYBANK
                NATIONAL ASSOCIATION 	 
	 	 	 	 
	
                By:
                  /s/ James J. Scardino

              	 	
                By:
                  /s/ Joseph F. Markey

              	 
	
                Name:
                  James J. Scardino

              	 	
                Name:
                  Joseph F. Markey

              	 
	
                Title:
                  Chief Financial Officer

              	 	
                Title:
                  Senior Vice PresidentUnassociated Document

    Exhibit
      10.2

    

       
        AMENDMENT TO LOAN AGREEMENT

      

      

      This
        Amendment dated as of the 12th
        day of
        June, 2007, by and between TWIN
        BRIDGES (BERMUDA)
        LTD.,
        a
        Bermuda company whose registered office is at Cannon’s Court, 22 Victoria
        Street, Hamilton HM 12, Bermuda (“Borrower”) and KEYBANK
        NATIONAL ASSOCIATION,
        a
        national banking association with offices at 4910 Tiedeman Road, OH-01-51-0541,
        Brooklyn, Ohio 44144 (“Lender”) to that certain Amended and Restated Loan
        Agreement dated October 3, 2005 between Borrower and Lender (the
“Agreement”).

      

      W
        I T N E
        S S E T H:

      

      WHEREAS,
        pursuant to the Agreement, Lender made available to Borrower a line of credit
        in
        the maximum principal amount of $7,000,000.00, and

      

      WHEREAS,
        Borrower and Lender have agreed to renew said line of credit,

      

      NOW,
        THEREFORE, in consideration of the mutual covenants herein contained, Borrower
        and Lender, incorporating the defined terms used in the Agreement, hereby
        amend
        the Agreement as follows:

      

      
        	1.	
                Section
                  2.2 Term
                  of Facility. The
                  Loan, if not sooner demanded, shall mature and become due and payable
                  on
                  June 30, 2008. If not sooner demanded, the Borrower shall have
                  an option
                  to renew the Loan for an additional one (1) year term.
                  

              

      

      

      
        	2.	
                Section
                  2.3 Draw
                  Fee. The
                  Borrower will pay a fee equal to one and one-half (1.50%) percent
                  of the
                  amount requested for each Letter of Credit, calculated from the
                  time
                  issued until the current expiration date of the
                  Letter.

              

      

      

      Except
        as
        hereby amended, the Agreement shall remain in full force and
        effect.

      

      IN
        WITNESS WHEREOF, Borrower and Lender have executed this Amendment as of the
        date
        first herein above set forth.

       

      
        	TWIN
                BRIDGES
                (BERMUDA) LTD.	 	KEYBANK
                NATIONAL ASSOCIATION	 
	 	 	 	 
	
                By:
                  /s/ Nicholas Frost

              	 	
                By:
                  /s/ Joseph F. Markey

              	 
	
                Name:
                  Nicholas Frost

              	 	
                Name:
                  Joseph F. Markey

              	 
	
                Title:
                  Vice President

              	 	
                Title:
                  Senior Vice
                  PresidentJiangxi
      21st
      Century Wonderland
      Culture Spreading Co., Ltd.

    

    Equity
      Transfer Agreement

    

    Assignor
      (hereinafter referred to as Party A): 21st Century Publishing House

    Address:
      75 Zi’an Road, Xihu District, Nanchang City, Jiangxi 

    Legal
      representative: Qiu-lin, Chang 

    Tel:
      0791-6535328

    Title:
      Director 

    

    Assignee:
      (hereinafter referred to as Party B): Shanghai Kid Castle Education Information
      Consulting Co., Ltd. 

    Address:
      Rm. 408, No. 1277 Beijing West Road, Shanghai 

    Legal
      representative: Lu-lin ,Wang 

    Tel:
      021-62893482

    Title:
      Chairman 

    

    Whereas:

    
      	
              1)

            	
              Jiangxi
                21st
                Century Wonderland Culture Spreading Co., Ltd. (hereinafter referred
                to as
                Wonderland
                Company) is a limited company
                (registration No.: 360001132771) jointly invested by Party A and
                Shanghai
                Kid Castle Education Software Development Co., Ltd. in January 2004,
                with
                a registered capital of RMB 2 million;

            

    

    
      	
              2)

            	
              According
                to the equity transfer agreement, Party A shall, pursuant to the
                terms and
                conditions of this agreement, assign to Party B its 40% equity of
                Wonderland company, and thus Party B will 40% equity of Wonderland
                and
                become a shareholder of the company;

            

    

    
      	
              3)

            	
              Prior
                to this, through sufficient and equal consultation, both parties
                have
                concluded an agreement concerning the transfer by Party B of 40%
                equity of
                Party A in Wonderland, relevant rights and interests, relevant examination
                & approval, change registration and other matters:
                

            

    

    

    Therefore,
      both parties agree as follow: 

    

    Article
      1
      Equity
      Transfer 

    
      	
              1.1

            	
              As
                shareholder of Wonderland company, Party A has the entire right to
                it
                stipulated by the national law, and this equity transfer has been
                approved
                by the power authorities of Wonderland.

            

    

    
      	
              1.2

            	
              According
                to the terms and conditions of this agreement, Party A will assign
                to
                Party B 40% equity of Wonderland company as well as all rights, interests
                and obligations corresponding to it;

            

    

    
      	
              1.3

            	
              According
                to the terms and conditions of this agreement, Party B will accept
                40%
                equity of Wonderland company assigned by Party A as well as all rights,
                interests and obligations corresponding to it;

            

    

    
      	
              1.4

            	
              Party
                A is legally responsible for corporate liabilities occurring prior
                to
                completion of the equity change registration by Wonderland company
                and
                Party B is legally responsible for corporate liabilities occurring
                after
                completion of the equity change registration.

            

    

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    Article
      2 Transfer
      amount and change registration 

    2.1
      Party
      A hereto assigns its 40% equity of Wonderland company at the transfer amount
      of
      RMB 1 million, and Party B shall pay off the amount after completion of relevant
      equity change procedures. 

    2.2
      Party
      B can pay the above transfer amount through bank remittance or issuing bank
      promissory note. 

    

    Article
      3 Promise
      and Warranty 

    3.1
      Promise of Party A: 

    (1)
      Responsible for assisting Party B to conduct statutory and necessary procedures
      such as examination for approval and change; 

    (2)
      Responsible for assisting Party B to handle change registration related to
      equity and this transfer in related governmental agencies; 

    (3)
      Assisting Party B to carry out original corresponding rights and obligations
      of
      Party A related to the equity in the Articles of Association of Wonderland
      company to have this transfer to be in full accordance with the regulations
      of
      the articles of association. 

    

    3.2
      Promise of Party B: 

    After
      conclusion of this agreement, all change registration procedures necessary
      for
      this transfer shall be completed in relevant governmental agencies. Upon
      execution of the agreement, Party B is entitled to exercise its power as a
      shareholder according to the agreement and discreetly exert the rights and
      obligations of Party A related to the equity transfer in articles of association
      of Wonderland company; 

    

    3.3
      The
      above statements and warranties are made on the date of signing the Equity
      Transfer Agreement. Both parties hereto are responsible respectively for the
      authenticity, accuracy and integrity of all statements and warranties in this
      agreement. 

    

    Article
      4 Miscellaneous
      

    4.1
      Matters not covered in this agreement shall be handled in accordance with the
      Company Law, the Contract Law and other applicable laws and regulations. Any
      conflict between this agreement and national laws and regulations shall be
      settled by both parties through consultation. 

    

    4.2
      This
      agreement comes into effect as of the date of execution; this agreement is
      made
      in four copies, one copy respectively held by both parties, one copy retained
      by
      Wonderland company, and one copy used for industry and commerce registration.
      

    

    Party
      A:
      21st Century Publishing House

    Legal
      /authorized representative (signature) 

    

    Party
      B
      (seal): Shanghai Kid Castle Education Information Consulting Co., Ltd.

    Legal
      /authorized representative (signature) 

    

    Date:
      

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    Confirmation

    

    This
      company hereby confirms the contents of foregoing Equity Transfer Agreement
      signed by 21st Century Publishing House, the company shareholder, and Shanghai
      Kid Castle Education Information Consulting Co., Ltd. on _________ 2007, and
      makes every effort to fulfill relevant obligations according to the above
      agreement in cooperation with related shareholders. This company will also
      perform the obligations necessary for the equity transfer such as issuing
      relevant documents and relevant change registration. 

    

    Confirmer
      (seal) : 

    

    Jiangxi
      21st
      Century
      Wonderland Culture Spreading Co., Ltd. 

    Date:

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