Termination Agreement
Exhibit 4.70
This Agreement is executed on 25 October 2005 by and among the following parties:
Party A: Xxxx Xxxx Xxx Xxx (Beijing) Technology Co., Ltd. (Party A)
Registered Address: Room C 604, Xx.00 Xx Xxxx Xxx Xxxxxx, Xxxxxxx Economic Technology Development Zone, Beijing.
Party B: Pu Dongwan (Party B)
Address: Xxxx 0000, Xxxx 0 Xx.0, Xxxxxxxx, Xxxxxxxxxxxxx Homestead, Haidian District, Beijing
Whereas:
1. Party A and Party B reached a Share Pledge Agreement relating to the shares of Xxxx Xxxx Xxx Xxx (Beijing) Technology Co., Ltd, owned by Party B (hereinafter referred to as the Share Pledge Agreement) on 19 November 2004.
2. Party A and Party B wish to terminate the said Share Pledge Agreement.
Now therefore, the Parties agree as follows:
| 1. | Party A and Party B agree to terminate the Share Pledge Agreement which shall automatically become invalid upon the effective date of this Agreement. |
| 2. | Upon the date when the Share Pledge Agreement become invalid, the rights and obligations of Party Aand Party B under the Share Pledge Agreement shall be terminated accordingly. |
| 3. | This Agreement shall take effect upon its execution. |
| 4. | The governing law to this Agreement shall be the PRC laws. |
| 5. | This Agreement is made in two copies, each party holds one copy. |
| Party A: Xxxx Xxxx Wei Xin (Beijing) Technology Co., Ltd | ||
| Authorized Representative: | /s/ Xxx Xxxxxxx | |
| Name: | Xxx Xxxxxxx | |
| Title: | ||
| Party B: Pu Dongwan | ||
| /s/ Pu Dongwan | ||
