Supplemental Agreement to Exclusive Option Agreement
Exhibit 4.20
This Supplemental Agreement to Exclusive Option Agreement (this “Agreement”) is executed by
and among the following Parties as of the 23th day of June, 2008:
Party A:
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Ku6 (Beijing) Technology Co., Ltd., a Wholly Foreign Owned
Enterprise, organized and existing under the laws of the PRC,
with its address at Room 1206, Xxxxxxx Xxxxx 0X, Xxxxxxxxxxxx
Software Garden, Dong Xxx Xxxx, Haidian District, Beijing; |
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Party B:
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Xxxxxxx Xxx, a Chinese citizen with Chinese Identification No.: 34122319860618351X; and |
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Party C:
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Ku6 (Beijing) Information Technology Co., Ltd., a limited
liability company organized and existing under the laws of the
PRC, with its address at No. 750 of Dongran Village, Si Ji Qing,
Haidian District, Beijing 100089, P. R. China. |
In this Agreement, each of Party A, Party B and Party C shall be referred to as a “Party”
respectively, and they shall be collectively referred to as the “Parties”.
Whereas:
1. | Party A and Party B have entered into the Loan Agreement on April 11, 2007 (the
“Loan Agreement”); |
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2. | Party C has increased its registered capital from RMB1,000,000 to RMB10,000,000. |
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3. | Party B contributed RMB 200,000 to the registered capital of Party C and holds 2%
of the equity interests in Party C. ” |
1. | Modification: |
“1.1 | Option Granted” |
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In consideration of the payment of XXX 00 by Party A, the receipt and
adequacy of which is hereby acknowledged by Party B, Party B hereby irrevocably
grants Party A an irrevocable and exclusive right to purchase, or designate one or
more persons (each, a “Designee”) to purchase the equity interests in Party C currently held and to be held by Party B once or at multiple times
at any time in part or in whole at Party A’s sole and absolute discretion to the extent
permitted by Chinese laws and at the price described in Section 1.3 herein (such right
being the “Equity Interest Purchase Option”). Except for Party A and the Designee(s), no
other person shall be entitled to the Equity Interest Purchase Option or other rights
with respect to the equity interests of Party B. Party C hereby agrees to the grant by
Party B of the Equity Interest Purchase Option to Party A. The term “person” as used
herein shall refer to individuals, corporations, partnerships, partners, enterprises,
trusts or non-corporate organizations.”
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IN WITNESS WHEREOF, the Parties have caused their authorized representatives to execute this
Supplemental Agreement of Exclusive Option Agreement as of the date first above written.
Party A: Ku6 (Beijing) Technology Co., Ltd.
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By: |
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Title: Legal Representative | ||||
Party B: Xxxxxxx Xxx
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By: |
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Party C: Ku6 (Beijing) Information Technology Co., Ltd.
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By: |
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Title: Legal Representative |
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