Termination Agreement to the Loan Agreement
Exhibit
4.21
This
Termination Agreement to the Loan Agreement (hereinafter referred to as this
“Agreement”) is entered
into this 1st day of
July, 2008 in Pudong New Area, Shanghai by and between:
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].
▇▇▇▇▇▇
and the Holding Employee may collectively be referred to as the “Parties” and,
individually, as the “Party”.
Whereas, ▇▇▇▇▇▇ and the
Holding Employee have entered into the Loan Agreement (hereinafter referred to
as the “Original
Agreement”) August 10, 2004, according to which the Holding Employee
has borrowed RMB 4,644,000 (Say: RMB four million and six hundred and
forty-four thousand) from ▇▇▇▇▇▇ for paying the transferred Share and the
increase capital.
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
Holding Employee has repaid all loans to ▇▇▇▇▇▇. 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 either 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 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
two (2) counterparts with each
Party holding one (1)
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counterpart.
Each counterpart shall have the same effect and force with the other counterpart.
[No Text Follow]
IN WITNESS WHEREOF, the
Parties have caused their authorized representatives to enter into this
Agreement in Shanghai as of the date and year first above written.
Shanghai
▇▇▇▇▇▇ Networking Co., Ltd.
Authorized
Representative (Sign): ______________
Name:
Title:
Signed
by: __________________
Name:
▇▇▇▇▇ ▇▇▇▇-▇▇▇▇