LOAN AGREEMENT
Exhibit 10.7
Party A : China INSOnline Corp.
PartyB : Xxx Xx (刘璐)(Identity Card no.:130203197805150323)
Whereas Party A demand for operating cashflow and borrow a loan from Party B, both Party A and Party B agree the terms as below:
1. Loan amount: USD Twenty Five Thousand Three Hundred and Twenty-Two Only for settlement of NOBO list, printer and relevant expenses.
2. Loan interest: Annual rate at 3%, from the date of borrowing to repayment, both days inclusive. For interest calculation, there is 360 days per year. Loan interest is payable on the repayment of loan.
3. Repayment: Before June 30, 2011. If Party A could not repay in cash, Party B has right to request the same value of stock issued by Party A. Any delay repayment is subject to late charges of 0.1% per day.
4. This Agreement in duplicate and each party has one.
Party A: Party B:
China INSOnline Corp. Xxx Xx (刘璐)
/s/Xxxx Xxxxxx /s/ Xxx Xx
December 20, 2010 December 20, 2010