Document:

exv4w74

Exhibit 4.74

[Translated from the original Chinese version]

SHARE TRANSFER AGREEMENT

of

BEIJING TONGXINSHENGSHI ENVIRONMENT ENGINEERING CO., LTD.

AUGUST 19, 2008

 

 

SHARE TRANSFER AGREEMENT

This Share Transfer Agreement (this “Agreement”) is entered into as of August 19, 2008 among the
following parties in Beijing, PRC.

Party A: Lin Yang

ID Card No.: 371100197603010016

Address: 9/F.,Tower C, Corporation Mansion, No.35 Financial Avenue, Xicheng District, Beijing

Party B: Shaoming Shi

ID Card No.: 371323198204096115

Address: 9/F.,Tower C, Corporation Mansion, No.35 Financial Avenue, Xicheng District, Beijing

Party C: Xin Wang

ID Card No.: 370102198006203377

Address: No. 5 Yiheyuan Road, Haidian District, Beijing

Party D: Zhihua Yang

ID Card No.: 510105198106120267

Address: No. 5 Yiheyuan Road, Haidian District, Beijing

Party C and Party D will be collectively referred to as “Transferors”. Party A and Party B will be
collectively referred to as “Transferees”.

WHEREAS,

	 	1.	 	Party C and Party D respectively hold 95% and 5% of the equity interest in Beijing
Tongxinshengshi Environment Engineering Co., Ltd. (“Tongxinshengshi” or the “Company”);
	 
	 	2.	 	The Transferees intend to purchase100% of the equity interest in the Company;
	 
	 	3.	 	The Transferors agree to transfer 100% of the equity interest in the Company to the
Transferees.

NOW THEREFORE, under the principle of equality and mutual benefit and after friendly negotiation,
the parties enter into the following agreements with respect to the transfer of the equity interest
in the Company pursuant to the Company Law of the People’s Republic of China and other relevant law
and regulations.

Article 1. Definitions

1.1 Unless otherwise provided in this Agreement, the following terms shall have the meanings set
forth below.

	 	(1)	 	“Agreement” refers to this Share Transfer Agreement.
	 
	 	(2)	 	“Transferors” refer to Party C and Party D.
	 
	 	(3)	 	“Transferees” refer to Party A and Party B.
	 
	 	(4)	 	“Company” or “Tongxinshengshi” refers to Beijing Tongxinshengshi Environment Engineering
Co., Ltd., a limited liability company duly established and validly existing under the law
of the People’s Republic of China with a registered capital of RMB500,000.
	 
	 	(5)	 	“Parties” refer to the signing parties of this Agreement and their successors,
transferees and authorized representatives; “Party” refers to any of the above mentioned
parties.

 

 

	 	(6)	 	“Shareholder’s Equity” refers to stock right and shareholder credit that a shareholder
has on a company and other rights and interests thereon, including without limitation
shareholder’s right to share profits and the creditor’s right to claim for the return of
principal and interests.
	 
	 	(7)	 	“Consideration” shall have the meaning as set forth in Article 2.2 hereof.
	 
	 	(8)	 	“Deposit” shall have the meaning as set forth in Article 2.2 hereof.
	 
	 	(9)	 	“Closing Condition” shall have the meaning as set forth in Article 4.1 hereof.
	 
	 	(10)	 	“Closing Date” shall have the meaning as set forth in Article 2.2 hereof.
	 
	 	(11)	 	“Effective Date” refers to the date on which the parties hereof and their authorized
representatives sign this Agreement.
	 
	 	(12)	 	“Contractual Obligations” means, with respect to a person, any and all provisions on
securities or bills issued by such person, or any and all provisions of the agreements,
commitments, contracts, licenses, debts, leases, covenants, guarantees, trusts, purchase
orders, undertakings or other contractual arrangements to which such person is one party or
by which such person’s property is bound.
	 
	 	(13)	 	“Transaction Documents” refer to this Agreement and any other documents in connection
with the transaction contemplated hereunder.
	 
	 	(14)	 	“Material” means that an event will be deemed as “material” if it will have an effect on
the Company’s business, assets (including non-fixed assets), liabilities, financial
condition, properties, operation results/projections to the extent that 5% or more of the
net profit or loss of the Company as of the Accounting Date will be affected.
	 
	 	(15)	 	“Material Adverse Effect” means that an event will be deemed to have a material adverse
effect if it have an effect on the Company’s business, assets (including non-fixed assets),
liabilities, financial condition, properties, operation results/future to the extent that 5%
or more of the net profit or loss of the Company as of the Accounting Date will be affected.
	 
	 	(16)	 	“Confidential Information” shall have the meaning as set forth in Article 6.1 hereof.
	 
	 	(17)	 	“Control” (including controlling, being controlled or under common control) means a
relationship between two Entities wherein one Entity has the ability, through the ownership
of securities with voting rights, contract or otherwise, to manage the affairs of, or to
affect significantly the business decisions of the other Entity.
	 
	 	(18)	 	“Entity” means any individual, company, organization, partnership, trust, association
(whether incorporated or not), equity joint venture, stock company, limited liability
company, governmental department or other type of entities or organizations, and their
successors (by merger or otherwise).
	 
	 	(19)	 	“Related Party” means, with respect to an Entity, another Entity which directly or
indirectly controls such Entity, or which is controlled by such Entity, or which is under
common control with such Entity.
	 
	 	(20)	 	“Related Person” means, (1) any shareholder of the Company and its Subsidiaries; (2) any
board member of the Company and its Subsidiaries; (3) any senior management staff of the
Company and its Subsidiaries; (4) immediate family of any 5% Shareholder or board member of
the Company and its Subsidiaries; and (5) any Entity in which any board member, senior
management or 5% Shareholder of the Company and its Subsidiaries has interests (not
including negatively holding less than 1% of stocks of a listed company).

 

 

	 	(21)	 	“Accounting Date” means the cutoff date on which the Transferors shall provide the
Transferees the latest financial statements in accordance with this Agreement.
	 
	 	(22)	 	“Assets” means assets, rights and privileges of any nature, including without being
limited to the rights, intellectual properties and equipment with respect to the contractual
obligations.
	 
	 	(23)	 	“Share Capital” means all shares, interests, options, rights or other equivalents with
regard to any Entity (no matter in what name they are and whether they are granted with
voting rights), the share capital of such Entity (including but not limited to common stock
and preferred stock) and any right, guarantee or option which is traded or converted to
share capital.
	 
	 	(24)	 	“Contingent Obligations” means, with regard to any Entity, any direct or indirect
liabilities it assumes, whether it is contingent or not, based on the liability, lease,
stock interests, guarantee, letter of credit or other obligations (whether it is contractual
obligation or otherwise, i.e. “Major Obligations”) of another Entity (“Major Obligator”),
including: (a) purchase, repurchase or otherwise acquire such Major Obligations or any
properties which constitute direct or indirect guarantee, (b) pay in advance or make any
prepayment so as to (i) pay off or exempt from any of such Major Obligations, or (ii) retain
the Major Obligator’s working capital or stock capital, or maintain the Major Obligator’s
net value of capital, solvency, any item on balance sheet, income level or financial
conditions, (c) purchase property, securities or service mainly to assure creditor the Major
Obligator’s solvency to such Major Obligation, or (d) guarantee or indemnify creditor of
Major Obligation it will not be liable for loss and non-performance of obligations.
	 
	 	 	 	The amount of any Continent Obligation shall be equivalent to the agreed or confirmed
amount of Major Obligation; if it is not agreed or confirmed, the amount of Continent
Obligation shall be equivalent to the maximum reasonably predictable liabilities for the
Major Obligation.
	 
	 	(25)	 	“Contractual Obligations” means, with respect to a person, any and all provisions on
securities or bills issued by such person, or any and all provisions of the agreements,
commitments, contracts, licenses, debts, leases, covenants, guarantees, trusts, purchase
orders, undertakings or other contractual arrangements to which such person is one party or
by which such person’s property is bound.
	 
	 	(26)	 	“Financial Statements” shall have the meaning as set forth in Article 7.1 of Appendix 1
hereof.
	 
	 	(27)	 	“5% Shareholder” means any Entity that owns, holds or has interests in 5% or more of the
voting right to select the board members of another Entity.
	 
	 	(28)	 	“Liabilities” means, with respect to any Entity, (a) such Entity’s debts arising out of
borrowing (including, without limitation, the repayment or other obligations in connection
with guaranteed securities, letters of credit and bank acceptance); (b) the obligation to
pay for any deferred properties or services, excluding the payable amount and accountable
commercial or transaction liabilities arising during normal business activities; (c) the
payment obligation for interest, bank note transactions, ceiling-floor agreements, whether
it is regular or contingent; (d) all debts in connection with the conditional sales or other
retained ownership agreements the Entity has entered into for obtaining properties (even
though the seller or lender’s rights or remedies under such agreements in the event of a
default will only be limited to repossession or resale of such properties); (e) all
obligations of such Entity under lease agreements that have been or should be recorded as
capital lease pursuant to international accounting standards; (f) all liabilities of such
Entity in connection with privileged security interests on the properties or assets owned or
controlled by the Entity (excluding the privilege enjoyed by the lessors under lease
arrangements other than those listed in above (e)), no matter whether the secured debts have
been undertaken by the Entity, or whether they can be claimed against the Entity); and (g)
any Contingent Obligations undertaken by such Entity.

 

 

	 	(29)	 	“Litigation” means any lawsuit, case, proceeding, complaint, investigation, inquiry,
claim, prosecution, action, arbitration and administrative or criminal proceedings.
	 
	 	(30)	 	“Intellectual Property” means (i) patents, trade marks, service marks, logos, get-up,
trade names, rights in design, inventions, copyrights (including rights in computer software
with respect to both object and source code) and moral rights, rights in data, database
rights, semi-conductor topography rights, utility models, rights in know-how, rights in
trade secrets, proprietary information and other proprietary materials and other
intellectual property rights, in each case whether registered or unregistered and including
applications and rights to apply for registration, (ii) all rights or forms of protection
having equivalent or similar effect or nature as or to those in paragraph (i) of this
definition which now or in the future may subsist anywhere in the world and (iii) the right
to sue for past, present or future infringement of any of the foregoing rights.
	 
	 	(31)	 	“Privileges” means trust, pledge, mortgage, transfer, encumbrance and right of priority
of any kind or nature.
	 
	 	(32)	 	“PRC” or “China” means the People’s Republic of China, for the purpose of this Agreement,
shall not include Hong Kong, Macao and Taiwan.
	 
	 	(33)	 	“Senior Management” mean the managerial personnel of the Company.
	 
	 	(34)	 	“Law” means, with respect to any person, any law, decree, treaty, rule, regulation,
right, right of priority, qualification, license, privilege, decision of the arbitrator,
court, governmental authority or stock exchange that is applicable to or binds such person
or his properties, or in connection with any or all transaction contemplated hereunder.
	 
	 	(35)	 	“Governmental Authority” means any governmental authority of the People’s Republic of
China or any subdivision thereof, whether national, provincial, regional or local, and any
ministry, department, agency, entity or other body exercising executive, legislative,
regulatory or administrative functions of such government of the People’s Republic of China
or its subdivisions.
	 
	 	(36)	 	“Tax” means all forms of taxes whether levied by reference to income, profits, gains,
asset values or other reference and statutory, governmental or state impositions, duties,
contributions, rates and levies, imposed by PRC government and other governments with
jurisdictions and their local counterparts at municipal, regional or provincial level, by
way of a withholding or deduction for or on account of tax or otherwise, and all penalties,
charges, costs and interest relating thereto.

1.1 Interpretations

	 	(1)	 	The whereas clauses and the appendixes hereof are integral parts of this Agreement
and shall have the same effect as if they are put in the context of this Agreement. Any
reference to this Agreement shall be construed as a reference to the Agreement as
supplemented, amended and modified from time to time, and together with the whereas
clause, footnotes and appendixes thereof.
	 
	 	(2)	 	The word “Agreement” shall refer to the entire agreement rather than any clause,
appendix or part thereof. Unless otherwise indicated in the context, the clauses or
appendixes of this Agreement shall refer to the relevant clauses or appendixes thereof.
	 
	 	(3)	 	The headings of articles and appendixes herein are provided only for the purpose of
easy reference and shall in no event restrict or affect the interpretation of the terms
herein.
	 
	 	(4)	 	Any reference to law, regulations and regulatory documents in this Agreement shall be
construed as a reference to such law, regulations and regulatory documents as amended and
reenacted from time to time.

 

 

	 	(5)	 	In the event that an act or measure should be taken within or after a period, when
calculating such period, the respective start date and end date shall not be counted in.
If the last day of such period falls into a non-business day, then the period shall expire
on the next following business day.
	 
	 	(6)	 	In the event that this Agreement expressly provides that a party should perform or
undertake any obligations hereof, such obligations shall be construed as all the rights
and control right (direct or indirect) to request such party to perform all it can do with
respect to the matters of other parties so as to ensure the performance of such
obligations.

2 TRANSFER OF SHAREHOLDER’S EQUITY AND CONSIDERATION

2.1 Transfer of Shareholder’s Equity

The Transferors agree to transfer to the Transferees, and the Transferees agree to acquire from the
Transferors, the 100% of the Shareholder’s Equity in the Company held by the Transferors.

In particular, Party C shall transfer 95% of the Shareholder’s Equity in the Company it holds to
Party A, and Party D shall transfer 5% of the Shareholder’s Equity in the Company it holds to Party
B. After the transfer, Party A shall hold 95% of the Shareholder’s Equity in the Company, and Party
B shall hold 5% of the Shareholder’s Equity in the Company.

2.2 Consideration

Unless otherwise provided hereof, the Parties agree the Consideration for the transaction
contemplated in this Agreement shall be RMB900,000 and be paid as follows:

	 	(1)	 	Deposit

Within three (3) working days after all Parties sign on this Agreement, the Transferees shall pay
RMB250,000 to the bank account designated by the Transferors as the security to the performance of
this Agreement (“Deposit”). Upon the Closing, the Deposit shall be set off against the
Consideration.

	 	(2)	 	Closing

As of October 10, 2008 or a later date agreed by all Parties (“Closing Date”), on the condition
that all the Closing Conditions as prescribed in Article 4 hereof have been satisfied, the
Transferees shall pay RMB650,000 in a lump sum to the Transferors to close the deal.

3 REPRESENTATIONS AND WARRANTIES

3.1 Transferors’ Representations and Warranties

The Transferors hereby represent and warrant that:

3.1.1 As of August 19, 2008, the Company does not have any account payable. If, within the two
years following August 19, 2008, the Transferees find that the Company has any account payable
before August 19, 2008, such account payable shall be undertaken by the Transferors.

3.1.2 The Company has been in strict compliance with tax law and regulations and paid taxes in
accordance with law. As of August 19, 2008, the Company does not have any tax payable or other tax
issues. If, within two years following August 19, 2008, tax authorities find that there are tax
issues before August 19, 2008, the Transferors shall undertake relevant liabilities.

The above representations and warranties are true, accurate and complete as of the date of this
Agreement and the relevant Closing Date (unless it is expressly provided that a specific
representation or warranty is only related to a specific date). The Transferors acknowledge that
that Transferees agree to acquire the Shareholder’s Equity in the Company from the Transferors
based on such representations and warranties made by them.

3.2 Transferees’ Representations and Warranties

The Transferees hereby represent and warrant that:

 

 

Before the date of this Agreement and the shareholders and legal representative of the Company have
been changed, the Transferees shall not conduct business activities in the name of Tongxinshengshi
or Xin Wang, the current legal representative of Tongxinshengshi.

The above representations and warranties are true, accurate and complete as of the date of this
Agreement and the relevant Closing Date (unless it is expressly provided that a specific
representation or warranty is only related to a specific date). The Transferees acknowledge that
that Transferors agree to transfer the Shareholder’s Equity in the Company to the Transferees based
on such representations and warranties made by them.

3.3 Liabilities

If any of the representations or warranties made by the Transferors/Transferees are not true,
accurate or adequate, and as a result, the Transferees/Transferors suffer direct or indirect
losses, the Transferors/Transferees shall have joint compensation liability to the
Transferees/Transferors for any loss, damage, expense or adverse condition (which will not occur if
the relevant representation or warranty is true or accurate) in any kind suffered by the
Transferees/Transferors. Such compensation shall not affect the rights and remedies enjoyed by one
Party against such representation and warranty.

4 CLOSING CONDITIONS AND UNDERTAKINGS

4.1 Closing Conditions

The Parties agree that Transferees’ payment of Consideration shall be subject to the satisfaction
of the following Closing Conditions (if a Closing Condition is waived by the Transferees in
writing, such Closing Condition shall be deemed as having been satisfied):

	 	(1)	 	Representations and Warranties

All the representations and warranties made by the Transferors are true, accurate and complete in
all material aspects as of the Closing Date (if, a specific representation or warranty is only made
with respect to a specific date, then such representation or warranty should be true, accurate and
complete as of such specific date).

	 	(2)	 	Due Diligence

The Transferees has completed the due diligence investigation on the Company to their satisfaction.

	 	(3)	 	Internal Approval

The Company has went through all necessary internal procedures for the transaction contemplated
hereunder, including without being limited to the shareholders’ resolution and board resolution
approving the transaction under this Agreement.

	 	(4)	 	Joint Authorization

The Parties jointly authorize the Company to deal with relevant matters in connection with the
transaction contemplated hereunder, including engagement of agencies (if necessary), application
for government approval (if required) and change of industrial and commercial registration, etc.

	 	(5)	 	Termination of Former Contracts

The Company should have disclosed to the Transferees all the contracts, agreements, covenants and
cooperation in any form, whether business or non-business, between the Company and any other
Entities (collectively the “Former Contracts”, including without being limited to trademark license
agreements). The Company should have terminated the performance of aforesaid Former Contracts with
the third parties, except the performance of a Former Contract has been approved by the Transferees
in writing. On the Closing Date, the Transferors should provide the Transferees with relevant
agreements regarding termination of Former Contracts.

	 	(6)	 	Termination of Business Cooperation

 

 

The Company should have disclosed to the Transferees any of its cooperation with any other Entities
in business. Unless otherwise agreed by the Transferees in writing, the Company should have
terminated the cooperation with all such Entities.

	 	(7)	 	Completion of Modification Registration

The Transferors should have cooperated with and assisted the Transferees in completing the
procedures for changing shareholders of the Company with Beijing AIC.

	 	(8)	 	Confirmation Letter

Upon the Closing, the Transferors should deliver a confirmation letter to the satisfaction of the
Transferees, confirming that the conditions as listed in Article 4.1(5) and (6) have been
satisfied.

	 	(9)	 	No Material Adverse Change

As of the Closing Date, there is no material adverse change which would affect the performance of
this Agreement.

	 	(10)	 	No Material Decision

As of the Closing Date, there is no court judgment, administrative decision or provisions in the
Law that: (a) would prohibit or restrict any transaction contemplated hereunder; (b) would prohibit
or restrict the consummation of any transaction contemplated hereunder; (c) provides that the
consummation of transaction contemplated hereunder would cause the Company and/or the Transferors
and/or the Transferees to be imposed on material penalties or legal liabilities; or (iv) would
restrict the Company’s operation which constitutes a material adverse change.

	 	(11)	 	No Litigation

As of the Closing Date, there exists no decision made against the Company and/or the Transferors in
any litigation, arbitration or administrative proceeding that would (a) have a material adverse
effect on the performance of obligations under this Agreement or other Transaction Documents; or
(b) have a material adverse effect on the transaction contemplated hereunder.

5 POST-CLOSING WARRANTIES AND UNDERTAKINGS

5.1 Post-Closing Warranties

	 	(1)	 	Without written consent of the Transferees, the Transferors and its Affiliated
Parties and Related Persons should not separately or collectively use any two of the four
Chinese characters  (including without being limited to their
homophones and counterparts in traditional Chinese) in their future business as name or
logo. In particular, they cannot use such Chinese characters in their trade name,
trademark, patent, name of product, title of publication, name of project, name of website
and other propaganda method identifying the owner, or making the public believe such
business has any substantial relationship with the Company’s name “Tongxinshengshi” in any
other way.
	 
	 	(2)	 	The Transferors agree to assist Tongxinshengshi to pass the annual inspection for the
year of 2008 after the Closing Date.

5.2 Undertakings

	 	(1)	 	The Transferors shall undertake all liabilities for the damages/losses suffered by
the Transferees or their Related Parties due to the breach of the above listed warranties
by the Transferors or their Related Parties.
	 
	 	(2)	 	Unless otherwise agreed by the Parties, the Transferors shall undertake and indemnify
the Company from and against all liabilities and responsibilities with respect to the
Company, its shares and assets (including civil or administrative debts such as tax)
accrued prior to the Closing Date, or caused by facts or circumstances occurring prior to
the Closing Date, or caused by untrue, inaccurate and incomplete representations and
warranties.

 

 

6 CONFIDENTIALITY AND EXCLUSIVITY

6.1 Confidentiality

The Parties shall keep strict confidential of the transaction contemplated hereunder, the
Transaction Documents and any other private information (“Confidential Information’) in connection
with a party’s business and matters that other parties obtained during the process of doing the
transaction contemplated hereunder. The parties should not use the Confidential Information for
purposes other than the performance of this Agreement, and are prohibited from disclosing the
Confidential Information to any third party. Notwithstanding the foregoing, for the purpose of this
Agreement, the parties may disclose such Confidential Information to its employees, directors,
managerial officers, consultants, agents or other relevant persons and/or entities, provided they
have taken all reasonable measures to ensure that the persons and/or entities receiving such
Confidential Information are aware of its confidentiality and bound by this Section 6.1.

The confidentiality obligation provided in the preceding paragraph shall not apply to the following
information:

	 	(1)	 	The confidential information that should be reported and disclosed pursuant to Law,
listing regulations or the provisions of other judicial or administrative authorities;
	 
	 	(2)	 	The confidential information that is disclosed to a third entity/party with the
written consents of all parties. No news and public announcement with respect to the
transaction contemplated hereunder shall be published without prior written consents of
all parties, unless such public announcements are made pursuant to applicable law or
government requirements.
	 
	 	(3)	 	The information that has already been in the public domain at the time it is
disclosed (unless it entered the public domain due to any breach of the confidentiality
obligations hereunder);
	 
	 	(4)	 	The information that has become known to the receiving party through other legal
channel other than the disclosing party;
	 
	 	(5)	 	The information that is independently developed by the receiving party;
	 
	 	(6)	 	The information that the receiving party obtained from a third party who does not
have the confidentiality obligation hereunder; and
	 
	 	(7)	 	The information that the receiving party is permitted by the disclosing party to
disclose.

6.2 Exclusivity

From execution of this Agreement till (a) the Closing Date or (b) the date when this Agreement is
terminated prior to the Closing Date, without the prior written consent of the Transferees, the
Transferors should not conduct negotiations or execute any letter of intent, agreement, contract,
memorandum or other legal documents with respect to the transfer of shares and major assets of the
Company and the Training Centre, except for the restructuring matters provided in Appendix 5 that
the Transferors shall proceed for the performance of this Agreement.

7 LIABILITIES FOR BREACH OF AGREEMENT

General Provisions

After this Agreement has been executed, a party shall be deemed to be in default if it fails to
fulfill its obligations hereunder pursuant to the provisions of this Agreement or breaches any of
its representations, warranties or undertakings hereunder. The party in default should compensate
other parties for their direct losses caused by such breach. Notwithstanding the foregoing, no
party shall be liable for any indirect losses of other parties caused by its breach of this
Agreement.

 

 

8 TERMINATION OF AGREEMENT

8.1 Termination of Agreement

	 	(1)	 	Except under the circumstances provided in Article 8.1(2) hereof, after the execution
of this Agreement, no Party shall terminate this Agreement unilaterally without unanimous
written consent of all Parties.
	 
	 	(2)	 	The Agreement can be early terminated under the following circumstances:
	 
	 	(a)	 	During the period between the execution of this Agreement and the Closing Date, if
there is any change or amendment to the applicable law and regulations, and as a result of
this, the content of this Agreement shall not comply with the applicable law and
regulations, and the parties fail to reach an agreement with respect to revising this
Agreement to make it in compliance with the new law and regulations, the Transferees shall
be entitled to terminate this Agreement unilaterally. The Transferors should return the
Deposit to the Transferees within five (5) days after the receipt of termination notice
from the Transferees.
	 
	 	(b)	 	During the period between the execution of this Agreement and the Closing Date, if
any event of Force Majeure occurs and as a result of this, this Agreement cannot be
enforced, or the Closing Conditions provided in Article 4 hereof cannot be fully satisfied
within one (1) month after the execution of this Agreement due to occurrence of an Force
Majeure event, the Transferees shall be entitled to terminate this Agreement unilaterally.
The Transferors should return the Deposit to the Transferees within five (5) days after
receipt of termination notice from the Transferees.
	 
	 	(c)	 	If, due to the reasons attributable to the Transferees (except for Force Majeure
events provided in Article 10 hereof), the Transferors cannot fully satisfy the Closing
Conditions within one (1) month after the execution of this Agreement (or an earlier date
agreed by the Parties), the Transferors shall be entitled to terminate this Agreement
unilaterally without returning the Deposit to the Transferees. If, due to the reason
attributable to Transferors themselves (except for Force Majeure events provided in
Article 10 hereof), the Transferors cannot fully satisfy the Closing Conditions within one
(1) month after the execution of this Agreement (or an earlier date agreed by the
Parties), the Transferees shall be entitled to terminate this Agreement unilaterally. The
Transferors shall return double of the Deposit to the Transferees within five (5) days
upon receipt of termination notice from the Transferees.
	 
	 	(d)	 	If, before the Closing Date, the Transferors breach their representations, warranties
or undertakings and such breach has Material Adverse Effect, the Transferees shall be
entitled to terminate this Agreement unilaterally. Transferors shall return double of the
Deposit to the Transferees within five (5) days upon receipt of termination notice from
the Transferees.

8.2 Legal Effect of Termination

	 	(1)	 	Once this Agreement is terminated, all Transaction Documents executed in accordance
with this Agreement shall be terminated simultaneously.
	 
	 	(2)	 	If this Agreement is terminated due to the breach of one party, such party shall
compensate the other non-breaching parties for all their direct losses in connection with
the performance of this Agreement in good faith.

9 GOVERNING LAW AND DISPUTE RESOLUTION

9.1 Governing Law

The execution, performance and interpretation of this Agreement shall be governed by the existing
law and regulations of the People’s Republic of China.

9.2 Dispute Resolution

	 	(1)	 	Any dispute or claim arising from or in connection with the interpretation, breach,
termination and effectiveness of this Agreement shall be settled through friendly
negotiation between the Parties

 

 

	 		 	first. When a dispute arises, one party shall initiate negotiation immediately with the
other parties upon receipt of the written request for negotiation from such other parties.
If the dispute cannot be settled within thirty (30) days through negotiation, any party can
submit the dispute to Beijing Arbitration Committee for arbitration.
	 
	 	(2)	 	The dispute shall be submitted to Beijing Arbitration Commission for arbitration in
accordance with its arbitration rules then in effect. The arbitration tribunal shall
consist of three (3) arbitrators. The Transferors and the Transferees shall each appoint
one (1) arbitrator within thirty (30) days after submitting/receiving the arbitration
request. The Parties may choose arbitrators freely, without being limited by the list of
suggested arbitrators. The third arbitrator shall be designated by the Chairman of the
arbitration commission. In the event a party fails to appoint an arbitrator who accepts
the appointment within thirty (30) days after the first arbitrator has been appointed,
the Chairman of the arbitration commission shall designate one for such party.
	 
	 	(3)	 	Subject to the confidentiality clause hereunder, the Parties shall cooperate with
each other with respect to discovery and provide all information and documents required by
the other party in connection with the arbitration procedure.
	 
	 	(4)	 	The arbitration award shall be final and binding on all parties. Each party may apply
to competent court for enforcement of such arbitration award.

10 FORCE MAJEURE

10.1 Event of Force Majeure

“Force Majeure” shall mean any event that is unforeseeable, unavoidable and out of the control of a
party, including without being limited to the followings:

	 	(1)	 	war, blockage, embargo or government sanction that directly affects the transaction
contemplated hereunder;
	 
	 	(2)	 	civil disturbance that directly affects the transaction contemplated hereunder;
	 
	 	(3)	 	flood, hurricane, earthquake, explosion or other natural disasters that directly
affect the transaction contemplated hereunder; and
	 
	 	(4)	 	other Force Majeure events that all parties agree will directly affect the
transaction contemplated hereunder, including without being limited to the decision of
Government Authority with respect to the approval or registration of the transaction
contemplated hereunder.

10.2 Consequence of Force Majeure

A Party shall not be deemed to be in breach of this Agreement if it fails to perform any or all
part of its obligations hereunder due to the occurrence of a Force Majeure event, however, it
should take all necessary remedy measures to reduce the losses caused by such Force Majeure event,
if possible.

10.3 Notice of Force Majeure

The Party affected by an Force Majeure event should notify the other Parties in writing of the
occurrence of such Force Majeure event as soon as possible, and submit a report to the other
Parties specifying the obligations entirely or partially affected by such event and the proposed
extension for performance period within fifteen (15) days after the occurrence of such event.

11 NOTICE

If any notice with respect to a Party’s rights and obligations hereunder is delivered by email or
fax, the original hardcopy of such notice should be delivered by post at the same time to the
following addresses of the Parties.

To the Transferors:

 

 

Attention: Xin Wang

Address: No. 5 Yiheyuan Road, Haidian District, Beijing

Post Code: 100871

To the Transferees:

Attention: Lin Yang

Address: 99/F.,Tower C, Corporation Mansion, No.35 Financial Avenue, Xicheng District,

Beijing

Post Code: 100140

12 MISCELLANEOUS PROVIONS

12.1 Taxes and Fees

	 	(1)	 	The Parties shall undertake their respective expenses for the transaction
contemplated hereunder, including the expenses for drafting, executing, delivering and
performing this Agreement and relevant attorney fee, accounting fee, auditing fee and
other expenses. The notary expenses for this Agreement shall be jointly undertaken by the
Transferors and the Transferees.
	 
	 	(2)	 	The Parties shall undertake their own part of taxes accrued for the transaction
contemplated hereunder in accordance with Law.

12.2 Entire Agreement

	 	(1)	 	This Agreement and appendixes hereof shall constitute the entire agreement between
the Parties with respect to the subject of this Agreement, and shall supersede all oral or
written letters of intent, agreements, contracts, memorandums and correspondences the
Parties have made with respect to the subject of this Agreement.
	 
	 	(2)	 	The Parties may enter into a separate share transfer agreement in a simple form for
the purpose of registration with the administration of industry and commerce. The Parties
agree that even though the Parties have signed the share transfer agreement in simple
form, their rights and obligations with respect to the share transfer shall still be
subject to this Agreement. No party can resist the performance of this Agreement or try to
make this Agreement void based on the provisions of the share transfer agreement in simple
form.

12.3 Amendment, Revision and Abandonment

Subject to applicable Law, any amendment to or revision of this Agreement should be approved by the
Parties in writing. Waiver of any provision hereof should not be deemed to be waiver of other
provisions of this Agreement.

12.4 Effectiveness

This Agreement will take effect after being signed by the Parties, their legal representatives or
authorized representatives.

12.5 Counterpart

This Agreement shall be executed in seven (7) counterparts with the same legal effect. Each Party
shall hold one (1), and the rest will be kept by the Company.

 

 

IN WITNESS WHEREOF, the parties hereto have duly executed this Revolving Credit Agreement effective
the date set forth above.

Party A: Lin Yang

Signature:

Party B: Shaoming Shi

Signature:

Party C: Xin Wang

Signature:

Party D: Zhihua Yang

Signature:exv4w75

Exhibit 4.75

[Translated from the original Chinese version]

LOAN AGREEMENT

between

FORTUNE SOFTWARE (BEIJING) CO., LTD.

and

SHAOMING SHI

LIN YANG

AUGUST 2008

BEIJING, CHINA

 

 

LOAN AGREEMENT

The Loan Agreement (the “Agreement”) is entered into as of August 21, 2008 among the following
parties in Beijing, the People’s Republic of China (the “PRC”):

PARTY A: FORTUNE SOFTWARE (BEIJING) CO., LTD. (“LENDER”)

Address: 9/F.,Tower C, Corporation Mansion, No.35 Financial Avenue Xicheng District, Beijing 100140

China

Legal representative: Zhiwei Zhao

PARTY B: SHAOMING SHI (“BORROWER”)

Address: 9/F.,Tower C, Corporation Mansion, No.35 Financial Avenue Xicheng

District, Beijing 100140 China

ID No.: 371323198204096115

PARTY C: LIN YANG (“BORROWER”)

Address: 9/F.,Tower C, Corporation Mansion, No.35 Financial Avenue Xicheng

District, Beijing 100140 China

ID No.: 371100197603010016

Party A, Party B and Party C will each be referred to as a “Party” and collectively referred to as
the “Parties.”

WHEREAS,

1. The Lender is a wholly foreign owned enterprise duly organized and validly existing under the
laws of the PRC.

2. The Borrowers desire to establish a company in the PRC (“New Company”), and will jointly hold
100% equity interest in the Company.

3. The Borrowers desire to borrow loans from the Lender to invest in the New Company, and the
Lender agrees to provide such loans to Borrowers.

THEREFORE, in accordance with the principle of sincere cooperation, mutual benefit and joint
development, through friendly negotiation, the Parties hereby enter into the following agreements
pursuant to relevant PRC laws and regulations.

ARTICLE 1. AMOUNT AND PURPOSE

1.1 Loan Amount: the Lender agrees to provide a loan from its self-owned fund to Party B and Party
C with the amount of RMB 850,000, among which RMB340,000 is provided to Party B and RMB510,000 is
provided to Party C.

1.2 Purpose of the Loan: the Borrowers shall only use the Loan hereunder to establish the New
Company as registered capital. Without the prior written consent of the Lender, the Borrowers shall
not use such Loan for any other purpose, or pledge their equity interests in the New Company to any
other third party.

ARTICLE 2. PAYMENT FOR THE LOAN

2.1 Payment Notice: the Lender shall deposit the loan amount to the following accounts designated
by the Borrowers within ten days after the execution of this Agreement:

Party B: Bank of deposit: Bank of Communications Beijing Branch

              Account Name: Shaoming Shi

              Account No.:

 

 

Party C: Bank of deposit: Bank of Communications Beijing Branch

              Account Name: Lin Yang

              Account No.:

ARTICLE 3. TERM, REPAYMENT AND INTEREST OF THE LOAN

3.1 The term of the loan shall be 10 years and may be renewed pursuant to the agreement between the
Parties (“Term”). Notwithstanding the foregoing, in the following circumstances, the Borrowers
shall repay the Loan regardless if the Term has expired:

     (1) The Borrowers decease or become a person without legal capacity or with limited legal
capacity;

     (2) The Borrowers commit a crime or are involved in a criminal act; or

     (3) The Lender or its designated assignee can legally purchase the Borrowers’ shares in the
New Company under the PRC law and the Lender chooses to do so.

3.2 The Borrowers can repay the Loan by transferring all of their equity interests in the New
Company to the Lender or a third party designated by the Lender when such transfer is permitted
under the PRC law. In the event (1) the Borrowers transfer all of their equity interests in the New
Company to the Lender or a third party designated by the Lender when such transfer is permitted
under the PRC law, or (2) the Borrowers receive dividends from the New Company, the Borrowers shall
deposit all the funds or dividends obtained from such transfer or the New Company, as the case may
be, to the account designated by the Lender (no matter such amount is higher or less than the
principal amount of the Loan).

3.3 The Lender and the Borrowers hereby jointly agree and confirm that the Lender, has the right
to, but has no obligation to, purchase or designate a third party (legal person or natural person)
to purchase all or part of Borrower’s interest in the New Company at a price equal to the amount of
the Loan when such purchase is allowed under the PRC law. If Lender or the third party assignee
designated by Lender only purchases part of Borrower’s interest in the New Company, the purchase
price shall be reduced on a pro rata basis.

3.4 In the event when the Borrowers transfer their interest in the New Company to the Lender or a
third party transferee designated by Lender, (i) if the total of (1) the actual transfer price paid
by Lender or the third party transferee and (2) the dividends obtained from the New Company by the
Lender (if applicable) equals or is less than the principal amount of the Loan, the Loan shall be
deemed as interest free; (ii) if the total of (1) the actual transfer price paid by Lender or the
third party transferee and (2) the dividends obtained from the New Company by the Lender (if
applicable) is higher than the principal amount of the Loan, the amount exceeding the principal
amount of the Loan shall be deemed as an interest accrued on the Loan and paid by Borrowers to
Lender in full.

ARTICLE 4. CONFIDENTIALITY

The Parties acknowledge and confirm that any oral or written materials concerning this Agreement
exchanged between them are confidential information. The Parties shall protect and maintain the
confidentiality of all such confidential data and information and shall not disclose to any third
party without the other party’s written consent, except (a) the data or information that was in the
public domain or later becomes published or generally known to the public, provided that it is not
released by the receiving party, (b) the data or information that shall be disclosed pursuant to
applicable laws or regulations, and (c) the data or information that shall be disclosed to One
Party’s legal counsel or financial counsel who shall also bear the obligation of maintaining the
confidentiality similar to the obligations hereof. The undue disclosing of the confidential data or
information of One Party’s legal counsel or financial counsel shall be deemed the undue disclosing
of such party who shall take on the liability of breach of this Agreement.

ARTICLE 5. DISPUTE RESOLUTION

 

 

5.1 The execution, validity, interpretation, performance, implementation, termination and
settlement of disputes of this Agreement shall be governed by the laws of the PRC.

5.2 Any dispute arising from or in connection with this Agreement shall be settled through friendly
negotiation. If the parties fail to make any written agreement within thirty days after
consultation, such dispute will be submitted (by the Lender or the Borrowers) to the China
International Economic and Trade Arbitration Commission (“CIETAC”) in accordance with its
arbitration rules/procedures. The arbitration shall commence from the date of filing. The tribunal
will be composed of one (1) arbitrator appointed by the chairman of CIETAC. The arbitration shall
be final and bind the Parties. Unless otherwise stipulated by the arbitrator, the arbitration fee
(including reasonable attorney fees and attorney expenses) shall be borne by the losing party.

ARTICLE 6. EFFECTIVENESS

6.1 This Agreement shall become effective after the execution of the Parties. The Agreement can be
terminated by one Party through sending a written notice to the other Parties thirty days prior to
the termination. Otherwise any Party shall not terminate this Agreement unilaterally without the
mutual agreement of the Parties.

ARTICLE 7. AMENDMENT

7.1 Upon the effectiveness of the agreement, the parties shall fully perform the agreement. Any
modifications of the agreement shall only be effective in written form through consultations of the
parties. Any modification and supplementary to this Agreement after signed by both Parties, become
an integral part of this Agreement, and has the same legal force with this Agreement.

ARTICLE 8. MISCELLANEOUS

8.1 The headings of articles herein are provided for the purpose of reference. Such headings shall
in no event be used or affected interpretations of the terms herein.

8.2 Matters not covered in the agreement shall be dealt with in a supplementary agreement, and
annexed hereto. The supplementary agreement shall be an integral part of this Agreement and have
the same legal force as the agreement.

8.3 Any provision of this Agreement that is invalid or unenforceable shall not affect the validity
and enforceability of any other provisions hereof.

8.4 The agreement is executed in three original copies with same legal effect. Each party hereto
shall hold one copy.

 

 

IN WITNESS WHEREOF, the Parties have duly executed this Agreement as of the date and year first
hereinabove set forth.

Party A:

FORTUNE SOFTWARE (BEIJING) CO., LTD

	 	 	 	 	 
	
 	 	 
	Seal 	 	 
	Authorized Representative: 	 	 

Party B:

SHAOMING SHI

	 	 	 	 	 
	
 	 	 
	(signature) 	 	 

PARTY C: LIN YANG

	 	 	 	 	 
	
 	 	 
	(signature)

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