Exhibit 10.21
Schedule to Exhibit 10.21
Pursuant to Instruction 2 to Item 601 of Regulation S-K under the
Securities Act of 1933, as amended, the following is a schedule of documents
substantially identical in all material respects except as to the parties
thereto, the dates of execution, or other material details from the document
filed as Exhibit 10.21.
Exhibit 10.21 Filed
Agreement: Share Pledge Agreement
Date: September 26, 2003
Pledgee: Beijing Super Channel Network Limited
Pledgor: Xxxx Xxx Xxx
Pledged asset: Pledgor's 20% equity interest in Beijing Lei Ting Wan Jun
Network Technology Limited
Agreements Substantially Identical to Exhibit 10.21 and Omitted
Agreement: Share Pledge Agreement
Date: September 26, 2003
Pledgee: Beijing Super Channel Network Limited
Pledgor: Xxxx Xxx Xxxx
Pledged asset: Pledgor's 70% equity interest in Beijing Lei Ting Wan Jun
Network Technology Limited
Agreement: Share Pledge Agreement
Date: September 26, 2003
Pledgee: Beijing Super Channel Network Limited
Pledgor: Xxxxx Xxxx
Pledged asset: Pledgor's 30% equity interest in Beijing Lei Ting Wan Jun
Network Technology Limited
Agreement: Share Pledge Agreement
Date: November 19, 2003
Pledgee: Puccini Network Technology (Beijing) Limited
Pledgor: Xxxx Xxx Xxx
Pledged asset: Pledgor's 80% equity interest in Beijing Lei Xxxx Xx Ji
Network Technology Limited
Agreement: Share Pledge Agreement
Date: November 19, 2003
Pledgee: Puccini Network Technology (Beijing) Limited
Pledgor: Xxxx Xxx Xxxx
Pledged asset: Pledgor's 20% equity interest in Beijing Lei Xxxx Xx Ji
Network Technology Limited
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[Translation of Chinese original]
Share Pledge Agreement
This Share Pledge Agreement is entered into on September 26, 2003 in Beijing by
and between the following parties:
Pledgee: Beijing Super Channel Network Limited
Address: Room F09 0/X Xxxxxxxxxxxxxx Xxxx, 0 Xxxxxxx Economic and
Technology Development Area
Pledgor: Xxxx Xxx Xxx
Gender: Male
Identity Code: 110102197304020437
Address: Room 0000 Xxxxxxxx 0, Xxxxxxxxxxxxx Xxxxxx Xxxxxxxx,, Xxxx Xxxxx
Xxxxxxxx, Xxxxxxx
WHEREAS,
1. Xxxx Xxx Xxx, the Pledgor, is a citizen of the People's Republic of China
("PRC"). The Pledgor owns 20% equity interest in Beijing Lei Ting Wan Jun
Network Technology Ltd ("Lei Ting Company"). Lei Ting Company is a limited
liability company registered in Beijing engaging in the business of
Internet information provision services.
2. The Pledgee, a wholly foreign-owned company registered in Beijing, PRC, has
been licensed by the PRC relevant government authority to carry on the
business of Internet technical services. The Pledgee and the Pledgor-owned
Lei Ting Company enter into an Exclusive Technical Consulting and Services
Agreement (the " Service Agreement") on September 26, 2003.
3. In order to make sure that the Pledgee collect technical service fees as
normal from Lei Ting Company, the Pledgor is willing to pledge all his
equity interest in Lei Ting Company to the Pledgee as a security for the
Pledgee to collect technical consulting and service fees under the Service
Agreement.
In order to define each Party's rights and obligations, the Pledgee and the
Pledgor through mutual negotiations hereby enter into this Agreement based
upon the following terms:
1. Definitions And Interpretations
Unless otherwise provided in this Agreement, the following terms shall have the
following meanings:
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1.1 Pledge means the full content of Article 2 hereunder
1.2 Equity Interest means all his 20% equity interests in Lei Ting Company
legally held by the Pledgor.
1.3 Rate of Pledge means the ratio between the value of the pledge under
this Agreement and the exclusive technical consulting and service fees
under the Service Agreement.
1.4 Term of Pledge means the period provided for under Article 3.2
hereunder.
1.5 Service Agreement means the Exclusive Technical Consulting and Service
Agreement entered into by and between Lei Ting Company and the Pledgee
on September 26, 2003.
1.6 Event of Default means any event in accordance with Article 7
hereunder.
1.7 Notice of Default means the notice of default issued by the Pledgee in
accordance with this Agreement.
2. Assignment And Pledge
2.1 The Pledgor agrees to pledge all his equity interest in Lei Ting
Company to the Pledgee. Pledge under this Agreement refers to the
rights owned by the Pledgee who shall be entitled to have priority in
receiving payment by the evaluation or proceeds from the auction or
sale of the share pledged by the Pledgor to the Pledgee.
3. Rate Of Pledge And Term Of Pledge
3.1 The rate of Pledge
3.1.1 The rate of pledge shall be 100%
3.2 The term of Pledge
3.2.1 The Pledge shall take effect as of the date when the equity
interests under this Agreement are recorded in the Register of
Shareholder of Lei Ting Company and registered with the
competent Administration for Industry and Commerce. The term of
the Pledge is the same with the term of Service Agreement.
3.2.2 During the Pledge, the Pledgor shall be entitled to dispose the
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Pledge in accordance with this Agreement in the event that Lei
Ting Company fails to pay exclusive technical consulting and
service fee in accordance with the Service Agreement.
4. Physical Possession Of Documents
4.1 During the term of Pledge under this Agreement, the Pledgor shall
deliver the physical possession of the Certificate of Distribution and
the Name List of Shareholder of Lei Ting Company to the Pledgee within
one week as of the date of conclusion of this Agreement.
4.2 The Pledgee shall be entitled to collect the dividends from the equity
interests.
5. Warranties And Representation Of The Pledgor
5.1 The Pledgor is the legal owner of the equity interests.
5.2 The Pledgee shall not be interfered by any other pledgee at any time
once Party exercises the rights of the Pledgee in accordance with this
Agreement.
5.3 The Pledgee shall be entitled to dispose or assign the pledge in
accordance with this Agreement.
5.4 The Pledgor does not pledge or encumber the equity interests to any
other person except for the Pledgee.
6. Covenant Of The Pledgor
6.1 During the effective term of this Agreement, the Pledgor covenants to
the Pledgee that the Pledgor shall:
6.1.1 Except the transfer of equity interest, as subject to the
Exclusive Purchase Right Contract entered into among the
Pledgor, Lahiji Vale Limited (hereinafter referred to "LAHIJI")
and Lei Ting Company on September 26, 2003, to LAHIJI or the
person designated by XXXXXX, not transfer or assign the equity
interests, create or permit to create any pledges which may
have an adverse effect on the rights or benefits of the Pledgee
without prior written consent from the Pledgee;
6.1.2 comply with and implement laws and regulations with respect to
the pledge of rights, present to the Pledgee the notices,
orders or suggestions with respect to the Pledge issued or made
by the
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competent authority within five days upon receiving such
notices, orders or suggestions and comply with such notices,
orders or suggestions, or object to the foregoing matters at
the reasonable request of the Pledgee or with consent from the
Pledgee.
6.1.3 timely notify the Pledgee of any events or any received notices
which may affect the Pledgor's equity interest or any part of
its right, and any events or any received notices which may
change the Pledgor's any covenant and obligation under this
Agreement or which may affect the Pledgor's performance of its
obligations under this Agreement.
6.2 The Pledgor agrees that the Pledgee's right of exercising the Pledge
obtained from this Agreement shall not be suspended or hampered
through legal procedure by the Pledgor or any successors of the
Pledgor or any person authorized by the Pledgor or any other person.
6.3 The Pledgor warrants to the Pledgee that in order to protect or
perfect the security over the payment of the technical consulting and
service fees under the Service Agreement, the Pledgor shall execute in
good faith and cause other parties who have interests in the pledge to
execute all the title certificates, contracts, and or perform and
cause other parties who have interests to take action as required by
the Pledgee and make access to exercise the rights and authorization
vested in the Pledgee under this Agreement, and execute all the
documents with respect to the changes of certificate of equity
interests with the Pledgee or a person (natural person or legal
entity) designated by the Pledgee, and provides all the notices,
orders and decisions regarded as necessary by the Pledgee with the
Pledgee within the reasonable time.
6.4 The Pledgor warrants to the Pledgee that the Pledgor will comply with
and perform all the guarantees, covenants, agreements, representations
and conditions for the benefits of the Pledgee. The Pledgor shall
compensate for all the losses suffered by the Pledgee for the reasons
that the Pledgor does not perform or fully perform their guarantees,
covenants, agreements, representations and conditions.
7. Event Of Default
7.1 The following events shall be regarded as an event of default:
7.1.1 Lei Ting Company fails to make full payment of the exclusive
technical consulting and service fees as scheduled under the
Service Agreement;
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7.1.2 The Pledgor makes any material misleading or fraudulent
representations or warranties under Article 5 herein, and/or
the Pledgor is in violation of any warranties under Article 5
herein;
7.1.3 The Pledgor violates the covenants under Article 6 herein;
7.1.4 The Pledgor violates any terms and conditions herein;
7.1.5 The Pledgor waives the pledged equity interests or transfers or
assigns the pledged equity interests without prior written
consent from the Pledgee;
7.1.6 The Pledgor's any external loan, security, compensation,
covenants or any other compensation liabilities (1) are
required to be repaid or performed prior to the scheduled date;
or (2) are due but can not be repaid or performed as scheduled
and thereby cause the Pledgee to deem that the Pledgor's
capacity to perform the obligations herein is affected;
7.1.7 The Pledgor is incapable of repaying the general debt or other
debt;
7.1.8 This Agreement is illegal for the reason of the promulgation of
any related laws or the Pledgor's incapability of continuing to
perform the obligations herein;
7.1.9 Any approval, permits, licenses or authorization from the
competent authority of the government needed to perform this
Agreement or validate this Agreement are withdrawn, suspended,
invalidated or materially amended;
7.1.10 The property of the Pledgor is adversely changed and cause the
Pledgee to deem that the capability of the Pledgor to perform
the obligations herein is affected;
7.1.11 The successors or assignees of the Pledgor are only entitled to
perform a portion of or refuse to perform the payment liability
under the Service Agreement;
7.1.12 Other circumstances whereby the Pledgee is incapable of
exercising the right to dispose the Pledge in accordance with
the related laws.
7.2 The Pledgor shall immediately give a written notice to the Pledgee if
the Pledgor is aware of or find that any event under Article 7.1
herein or any
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events that may result in the foregoing events have happened or is
going on.
7.3 Unless the event of default under Article 7.1 herein has been solved
to the Pledgee's satisfaction, the Pledgee, at any time when the event
of default happens or thereafter, may give a written notice of default
to the Pledgor and require the Pledgor to immediately make full
payment of the outstanding service feess under the Service Agreement
and other payables or dispose the Pledge in accordance with Article 8
herein.
8. Exercise Of The Right Of The Pledge
8.1 The Pledgor shall not transfer or assign the pledge without prior
written approval from the Pledgee prior to the full repayment of the
consulting and service fee under the Service Agreement.
8.2 The Pledgee shall give a notice of default to the Pledgor when the
Pledgee exercises the right of pledge.
8.3 Subject to Article 7.3, the Pledgee may exercise the right to dispose
the Pledge at any time when the Pledgee gives a notice of default in
accordance with Article 7.3 or thereafter.
8.4 The Pledgee is entitled to have priority in receiving payment by the
evaluation or proceeds from the auction or sale of whole or part of
the share pledged herein in accordance with legal procedure until the
outstanding consulting and service fees and all other payables under
the Service Agreement are repaid.
8.5 The Pledgor shall not hinder the Pledgee from disposing the Pledge in
accordance with this Agreement and shall give necessary assistance so
that the Pledgee could realize his Pledge.
9. Transfer Or Assignment
9.1 The Pledgor shall not donate or transfer his rights and obligations
herein without prior consent from the Pledgee.
9.2 This Agreement shall be binding upon the Pledgor and his successors
and be effective to the Pledgee and his each successor and assignee.
9.3 The Pledgee may transfer or assign his all or any rights and
obligations under the Service Agreement to any individual (natural
person or legal entity) at any time. In this case, the assignee shall
enjoy and undertake the same rights and obligations herein of the
Pledgee as if the assignee is a
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party hereto. When the Pledgee transfers or assigns the rights and
obligations under the Service Agreement, at the request of the
Pledgee, the Pledgor shall execute the relevant agreements and/or
documents with respect to such transfer or assignment.
9.4 After the Pledgee's change resulting from the transfer or assignment,
the new parties to the pledge shall reexecute a pledge contract.
10. Termination
This Agreement shall not be terminated until the consulting and service fees
under the Service Agreement are paid off and the Lei Ting Company will not
undertake any obligations under the Service Agreement any more, and the Pledgee
shall cancel or terminate this Agreement within reasonable time as soon as
practicable.
11. Fees And Other Charges
11.1 The Pledgor shall be responsible for all the fees and actual
expenditures in relation to this Agreement including but not limited
to legal fees, cost of production, stamp tax and any other taxes and
charges. If the Pledgee pays the relevant taxes in accordance with the
laws, the Pledgor shall fully indemnify such taxes paid by the
Pledgee.
11.2 The Pledgor shall be responsible for all the fees (including but not
limited to any taxes, formalities fees, management fees, litigation
fees, attorney's fees, and various insurance premiums in connection
with disposition of Pledge) incurred by the Pledgor for the reason
that (1) The Pledgor fails to pay any payable taxes, fees or charges
in accordance with this Agreement; or (2) The Pledgee has recourse to
any foregoing taxes, charges or fees by any means for other reasons.
12. Force Majeure
12.1 If this Agreement is delayed in or prevented from performing in the
Event of Force Majeure ("Event of Force Majeure"), only within the
limitation of such delay or prevention, the affected party is absolved
from any liability under this Agreement. Force Majeure, which includes
acts of governments, acts of nature, fire, explosion, typhoon, flood,
earthquake, tide, lightning, war, means any unforeseen events beyond
the prevented party's reasonable control and cannot be prevented with
reasonable care. However, any shortage of credit, capital or finance
shall not be regarded as an event beyond a Party's reasonable control.
The Party affected by Force Majeure who claims for exemption from
performing any obligations under this
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Agreement or under any Article herein shall notify the other party of
such exemption promptly and advice him of the steps to be taken for
completion of the performance.
12.2 The Pledgeeffected by Force Majeure shall not assume any liability
under this Agreement. However, subject to the Party affected by Force
Majeure having taken its reasonable and practicable efforts to perform
this Agreement, the Party claiming for exemption of the liabilities
may only be exempted from performing such liability as within
limitation of the part performance delayed or prevented by Force
Majeure. Once causes for such exemption of liabilities are rectified
and remedied, both parties agree to resume performance of this
Agreement with their best efforts.
13. Dispute Resolution
13.1 This Agreement shall be governed by and construed in accordance with
the PRC law.
13.2 The parties shall strive to settle any dispute arising from the
interpretation or performance, or in connection with this Agreement
through friendly consultation. In case no settlement can be reached
through consultation, each party can submit such matter to China
International Economic and Trade Arbitration Commission ("CIETAC") for
arbitration. The arbitration shall follow the current rules of CIETAC,
and the arbitration proceedings shall be conducted in Chinese and
shall take place in Beijing. The arbitration award shall be final and
binding upon the parties.
14. Notice
14.1 Any notice which is given by the parties hereto for the purpose of
performing the rights, duties and obligations hereunder shall be in
writing. Where such notice is delivered personally, the time of notice
is the time when such notice actually reaches the addressee; where
such notice is transmitted by telex or facsimile, the notice time is
the time when such notice is transmitted. If such notice does not
reach the addressee on business date or reaches the addressee after
the business time, the next business day following such day is the
date of notice. The delivery place is the address first written above
of the parties hereto or the address advised in writing including
facsimile and telex from time to time.
15. Appendices
15.1 The appendices to this Agreement are entire and integral part of this
Agreement.
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16. Effectiveness
16.1 This agreement and any amendments, modification, supplements,
additions or changes hereto shall be in writing and come into effect
upon being executed and sealed by the parties hereto.
16.2 This Agreement is written in Chinese and is executed in two
counterparts.
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Pledgee: Beijing Super Channel Network Limited
Authorized Representative: __________________
Pledgor: Xxxx Xxx Xxx
_________________(Signature)
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EXHIBIT A
1. Register of Shareholders of Beijing Lei Ting Wan Jun Network Technology
Ltd.
2. Certificate of Capital Contribution of Beijing Lei Ting Wan Jun Network
Technology Ltd.
3. Exclusive Technical Consulting and Services Agreement
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