Framework Agreement
Exhibit 10.20
English Translation
This Framework Agreement (the “Agreement”) is entered into by and among the following parties on March 5, 2014:
| 1. | Chuangmeng Wuxian (Beijing) Information & Technology Co., Ltd. (the “WFOE”), a wholly foreign owned enterprise incorporated and existing in accordance with the laws of the People’s Republic of China (the “PRC”), with its address at Room 1325, Ruicheng Hotel, Xx. 0 Xxxxx Xxxx, Xxxxxxx Xxxxxxxx, Xxxxxxx; |
| 2. | Xxxx Xxxxxxx, a Chinese citizen, whose identification number is ; |
| 3. | Guan Song, a Chinese citizen, whose identification number is ; and |
| 4. | Shenzhen Mengyu Technology Co., Ltd. (the “Company”), a limited liability company incorporated and existing in accordance with the laws of the PRC, with its address at Xxxx 0, Xxxx 0 and Xxxx 0-0, Xxxxx 00, Xxxxx A, Kexing Science Park, Keyuan Road, Middle Zone High-new Science & Technology Park, Nanshan District, Shenzhen. |
For the purpose of this Agreement, each of the WFOE, Xxxx Xxxxxxx, Xxxx Song and the Company is referred to as a “Party”, and collectively as the “Parties”.
Whereas:
| 1. | On November 29, 2013, the WFOE, Xxxx Xxxxxxx and the Company entered into an Exclusive Option Agreement, the WFOE, Xxxx Xxxxxxx and the Company entered into an Equity Pledge Agreement, the WFOE, Guan Song and the Company entered into an Exclusive Option Agreement, and the WFOE, Guan Song and the Company entered into an Equity Pledge Agreement (the above agreements are collectively referred to as the “Original Agreements”); |
| 2. | On March 5, 2014, the WFOE and Xxxx Xxxxxxx entered into a Loan Contract confirming that the WFOE shall provide loans for Xxxx Xxxxxxx, and the WFOE and Guan Song entered into a Loan Contract confirming that the WFOE shall provide loans for Guan Song (the above contracts are collectively referred to as the “Loan Contracts”); |
| 3. | As a result of the execution of Loan Contracts, the Parties need to update the relevant terms of the Original Agreements. |
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Now, therefore, the Parties hereby reach an agreement on the following terms through friendly and equal consultation for mutual compliance:
| Article I | The Parties acknowledge the execution of Loan Contracts. The Parties agree to amend and update the Original Agreements. | |
| Article II | Each Party acknowledges that any of the other Parties has no default under the Original Agreements, and that it has no claims against any of such other Parties under the Original Agreements. | |
| Article III | The Parties agree to amend and update the Original Agreements as set out below on the date of this Agreement: | |
| 1. | The Exclusive Option Agreement entered into by the WFOE, Xxxx Xxxxxxx and the Company on November 29, 2013 shall be substituted with the Exclusive Option Agreement entered into by and among the WFOE, Xxxx Xxxxxxx and the Company on March 5, 2014 and attached hereto as Schedule 1, and the Exclusive Option Agreement attached hereto as Schedule 1 shall take effect on the date of signing; |
| 2. | The Exclusive Option Agreement entered into by the WFOE, Guan Song and the Company on November 29, 2013 shall be substituted with the Exclusive Option Agreement entered into by and among the WFOE, Guan Song and the Company on March 5, 2014 and attached hereto as Schedule 2, and the Exclusive Option Agreement attached hereto as Schedule 2 shall take effect on the date of signing; |
| 3. | The Equity Pledge Agreement entered into by and among the WFOE, Xxxx Xxxxxxx and the Company on November 29, 2013 shall be substituted with the Equity Pledge Agreement entered into by and among the WFOE, Xxxx Xxxxxxx and Company on March 5, 2014 and attached hereto as Schedule 3, and the Equity Pledge Agreement attached hereto as Schedule 3 shall take effect on the date of signing; |
| 4. | The Equity Pledge Agreement entered into by and among the WFOE, Guan Song and the Company on November 29, 2013 shall be substituted with the Equity Pledge Agreement entered into by and among the WFOE, Guan Song and Company on March 5, 2014 and attached hereto as Schedule 4, and the Equity Pledge Agreement attached hereto as Schedule 4 shall take effect on the date of signing; |
| 5. | No amendment is made to the Capital Contribution Certificate and the Shareholder Register issued by the Company on November 29, 2013, the Exclusive Business Cooperation Agreement signed by the WFOE and the Company on April 19, 2012 and amended on November 29, 2013, and the Power of Attorney issued by Xxxx Xxxxxxx and Xxxx Song, respectively, on November 29, 2013; |
| 6. | The Parties acknowledge that the Consent Letter signed by Xx Xxx, Chen Xiangyu’s spouse (ID number: ) and Xxx Xxx, Xxxx Song’s spouse (ID number: ) on November 29, 2013 shall be substituted with the Consent Letter attached hereto as Schedule 5, and the Consent Letter attached hereto as Schedule 5 shall take effect on the date of signing. |
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| Article IV | The Parties agree to sign each of the documents set out in Schedule 1, Schedule 2, Schedule 3, Schedule 4 and Schedule 5. | |
| Article V | The Parties acknowledge that the terms of this Agreement and any oral or written information exchanged between the Parties in connection with the Agreement are regarded as confidential information. Each Party shall maintain the confidentiality of all such confidential information, and without obtaining the written consent of the other Party, it shall not disclose any relevant confidential information to any third parties, except for the information that: (a) is or will be in the public domain (other than through the receiving Party’s unauthorized disclosure); (b) is under the obligation to be disclosed pursuant to the applicable laws or regulations; or (c) is required to be disclosed by any Party to its legal counsels or financial advisors regarding the transaction contemplated hereunder, provided that such legal counsels or financial advisors shall be bound by the confidentiality obligations similar to those set forth in this Section. Disclosure of any confidential information by the employees of or agencies engaged by any Party shall be deemed disclosure of such confidential information by such Party and such Party shall be held liable for breach of this Agreement. This Section shall survive the termination of this Agreement, regardless of the reason for such termination. | |
| Article VI | The execution, effectiveness, construction, performance, amendment and termination of this Agreement and the resolution of disputes hereunder shall be governed by the laws of the PRC. In the event of any dispute with respect to the construction and performance of this Agreement, the Parties shall first resolve the dispute through friendly negotiations. In the event the Parties fail to reach an agreement on the dispute within 30 days after any Party’s request to the other Parties for resolution of the dispute through negotiations, any Party may submit the relevant dispute to the China International Economic and Trade Arbitration Commission for arbitration, in accordance with its Arbitration Rules. The arbitration shall be conducted in Beijing, and the language of the arbitration shall be Chinese. The arbitration award shall be final and binding on all Parties. | |
| Article VII | This Agreement shall take effect upon execution by all the Parties. The Agreement shall be signed in quadruple, with each Party holding one copy of the same legal effects. | |
[No text below]
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IN WITNESS WHEREOF, this Agreement has been duly executed on the first date as set out above.
| Chuangmeng Wuxian (Beijing) Information & Technology Co., Ltd. | ||
| [Company seal is affixed.] | ||
| By: |
/s/ Xxxx Xxxxxxx | |
| Name: |
XXXX Xxxxxxx | |
| Title: |
Legal Representative | |
| Xxxx Xxxxxxx | ||
| By: |
/s/ Chen Xxxxxxx | |
| Xxxx Song | ||
| By: |
/s/ Guan Song | |
| Shenzhen Mengyu Technology Co., Ltd. | ||
| [Company seal is affixed.] | ||
| By: |
/s/ Xxxx Xxxxxxx | |
| Name: |
XXXX Xxxxxxx | |
| Title: |
Legal Representative | |
Signature Page to the Framework Agreement
Schedule 1
Exclusive Option Agreement
(Intentionally omitted)
Schedule 2
Exclusive Option Agreement
(Intentionally omitted)
Schedule 3
Equity Pledge Agreement
(Intentionally omitted)
Schedule 4
Equity Pledge Agreement
(Intentionally omitted)
Schedule 5
Consent Letter
(Intentionally omitted)
