Termination Agreement to the Share Purchase Option Agreement
Exhibit
4.22
Termination
Agreement to the Share Purchase Option Agreement
This
Termination Agreement to the Share Purchase Option Agreement (hereinafter
referred to as this “Agreement”) is entered into on
this 1st of
July, 2008 in Pudong New Area, Shanghai by and among:
Shanghai ▇▇▇▇▇▇ Networking Co., Ltd.
(hereinafter referred to as “▇▇▇▇▇▇”), a limited liability
company incorporated and existing in accordance with the laws of the People's
Republic of China (hereinafter referred to as the “PRC”) with its
principal business address at ▇▇. ▇▇▇ ▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇ ▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇▇▇; and
▇▇▇▇▇ ▇▇▇▇-▇▇▇▇ (hereinafter
referred to as the “Holding
Employee”), a Chinese citizen with the ID Card No.: [XXX];
Shanghai Shulong Technology
Development Co., Ltd. (hereinafter referred to as “Shanghai Shulong”), a limited
liability company incorporated and existing in accordance with the laws of the
PRC with its principal business address at ▇▇. ▇▇▇ ▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇ ▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇▇▇.
▇▇▇▇▇▇,
Holding Employee and Shanghai Shulong may hereinafter collectively referred to
as the “Parties” and,
individually referred to as the “Party”.
Whereas, ▇▇▇▇▇▇, Holding
Employee and Shanghai Shulong have entered into the Share Purchase Option
Agreement (hereinafter referred to as the “Original Agreement”), according to
which ▇▇▇▇▇▇ has the exclusive option to purchase all Share held by the Holding
Employee in Shanghai Shulong at any time subject to the laws of the
PRC.
NOW THEREFORE, the Parties
have entered into the following terms and conditions in respect of the
termination of the Original Agreement through friendly negotiation, and on the
basis of willingness and equal footing on July 01, 2008.
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1.
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The
Parties have agreed to terminate the Original Agreement on the date when
this Agreement is entered into, and to release their rights and
obligations under such Original Agreement. No Party shall bear any
breaching liability to any other
Party.
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2.
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The
rights and obligations of each Party under the Original Agreement shall
remain in force before this Agreement is entered
into.
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3.
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This
Agreement comes to effect immediately after it is entered into by the
Parties.
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4.
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Any
dispute in relation to the Original Agreement and this Agreement shall be referred to the China
International Economic and Trade Arbitration Commission
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Shanghai Commission (“CIETACSC”) according to the Rules of
CIETACSC in force for the time
being.
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5.
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This Agreement is made in three
(3) counterparts with each Party holding one (1) counterpart.
Each counterpart shall have the same effect and force with the
others.
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IN WITNESS WHEREOF, the
Parties have duly caused their authorized representatives to enter into this
Contract in Shanghai as of the day and year first above written.
Shanghai
▇▇▇▇▇▇ Networking Co., Ltd.
Authorized
Representative (Sign):
Name:
Title:
Holding
Employee
Signed
by:
Name:
▇▇▇▇▇ ▇▇▇▇-▇▇▇▇
Shanghai
Shulong Technology Development Co., Ltd.
Authorized
Representative (Sign):
Name:
Title: