AGREEMENT CONCERNING THE EXCHANGE OF COMMON STOCK AMONG AMERICAN CHAMPION ENTERTAINMENT, INC. ("ACEI") BEIJING WISDOM NETWORK TECHNOLOGY COMPANY, LTD. ("B.A.Network") and THE SHAREHOLDERS OF BEIJING WISDOM NETWORK TECHNOLOGY COMPANY, LTD.Agreement Concerning The • February 14th, 2001 • American Champion Entertainment Inc • Services-motion picture & video tape production
AGREEMENT, made as of the 27th day of March, 2000, by and among American Champion Entertainment, Inc. of the United States of America, a Delaware corporation ("ACEI"), Beijing Wisdom Network Technology Company, Ltd., a corporation formed under the laws of the People's Republic of China ("B.A. Network") and the shareholders of Beijing Wisdom Network Technology Company, Ltd. (the "Shareholders"). This agreement is subject to review by the U.S. Securities and Exchange Commission ("SEC") and approval by the shareholders of ACEI, and shall become effective immediately upon satisfactory review by the SEC and approval by the shareholders at a meeting of the shareholders of ACEI. Once approval by shareholders is obtained, ACEI shall notify B.A. Network of the effectiveness of this agreement within the same day.
