SHARE PURCHASE AGREEMENT

 

本协议由以下各方于     日在     市签订：

This Agreement is executed in Beijing, China on this day of December 1, 2015 by and among:

 

甲方 Party A：

授权代表Authorized representative：

 

乙方Party B：

 

丙方 Party C：

授权代表Authorized representative：

 

丁方Party D：

授权代表Authorized representative：

 

鉴于：In view of:

 1. 丙方是一家依照中华人民共和国法律法规于    日成立并合法存续的有限责任公司，注册地在     ，现登记注册资本为人民币     万元；

 

Party C is a limited liability company incorporated and currently in good standing under the laws and regulations of the People’s Republic of China (PRC) with the registered address in      and a current registered capital of RMB      yuan;

 

 2. 乙方为丙方的现有登记股东，合计持有丙方100%的股权；

Party B represents the currently registered shareholders of Party C, holding collectively 100% of Party C’s outstanding capital stock;

 

 3. 甲方拟向乙方发行股份；Party A intends to issue shares to Party B;

 4. 丁方为甲方在中国境内的子公司。Party D is a subsidiary of Party A in the PRC.

上述合同各方根据中华人民共和国有关法律法规的规定，本着平等自愿的原则，经过友好协商，达成一致，特订立如下合同条款，供各方共同遵守。

According to the laws and regulations of the PRC and based on the principals of equality and voluntariness, after friendly negotiation, all Parties agree to the terms set forth below.

 第一条  释义 Article 1 Definitions

 1.1 除非本协议文意另有所指，下列词语具有以下含义：

Unless otherwise indicated in this agreement, the terms below have the definitions as follows:

 

过渡期指本协议签署之日至就本协议项下第一期股份发行完成的时间段。

Transition Period  The period between the execution date of this agreement and the completion of shares issuance in the first phase.

 

1.2 本协议的条款标题仅为了方便阅读，不应影响对本协议条款的理解。

The title of the provisions of this agreement are for reference only and shall not affect the meaning of the provisions herein.

第二条 股份发行前提  Article 2 Prerequisites of Stock Issuance

 2.1 各方确认，甲方在本协议项下的发行股份的义务以下列条件为前提，乙方及丙方有义务提供相关证据证明下列条件以得到全部满足：

All Parties shall confirm that the obligations of Party A to issue shares under this Agreement shall be under the following conditions, and Party B and Party C have the obligation to provide related evidence that all of the following conditions have been met:

 

 2.1.1 乙方及丙方已经以书面形式向甲方充分、完整披露了丙方的资产、负债、权益、对外担保以及与本协议有关的信息等；乙方及丙方承诺向甲方提供的丙方财务会计报表真实地完整地反映了丙方在该期间的资产、负债和盈利状况，不存在任何虚假。

Party B and Party C have made to Party A a full and complete disclosure of Party C’s assets, liabilities, equities, guarantees to other parties and information related to this Agreement; Party B and Party C, jointly and severally, shall provide Party A with Party C’s financial and accounting statements that accurately and completely reflect the Party C’s assets, liabilities and profitability and/or losses without any false statement.

 

 2.1.2 过渡期内，丙方的经营或财务状况没有发生重大的不利变化；未经甲方同意，丙方不得进行现金及资产的处置以及利润分配。

During the Transition Period, there is no material adverse change to the business or financial condition of Party C; Party C shall not distribute any assets, cash or profits without the permission of Party A.

 2.1.3 过渡期内，未经甲方同意，乙方不得向丙方乙方以外的第三方转让其所持有的部分或全部丙方股权。

During the Transition Period, without Party A’s consent, Party B shall not transfer all or any of Party C’s shares held by Party B to any third party.

 

 2.1.4 过渡期内，乙方及丙方应在所有重大方面，保持丙方的组织架构完好，丙方管理层、、员工及顾问持续提供服务，维持好与主要客户的业务关系，并维持、控制和保全丙方的资产与过去经营状况一致。

During the Transition Period, Party B and Party C shall preserve intact, in all material respects, Party C’s business organizations, to keep available the services of Party C’s managers, directors, officers, employees and consultants, to maintain, in all material respects, their existing relationships with all customers with whom Party C does significant business, and preserve the possession, control and condition of Party C’s assets, all as consistent with past practice.

 

 2.1.6 过渡期内，无甲方书面同意（此类书面文件不得无故被扣压、设限或拖延），乙方和丙方不得：

Without limiting the generality of the foregoing sections, and except as contemplated by the terms of this Agreement, during the Transition Period, without the prior written consent of Party A (such consent not to be unreasonably withheld, conditioned or delayed), Party B and Party C shall not:

 

 2.1.6.1 修改、取消或变更公司注册文件、章程以及其他类似文件。

Amend, waive or otherwise change, in any respect, its certificate of incorporation, bylaws or other similar organizational documents;

 

 2.1.6.3 拆分，合并，重新资本化或重分类任何其权益类证券或发行其他类型证券，或就相关证券作出任何支付留置或发放股份股利，或直接或间接赎回或购买或承诺购买任何证券或证券权利。

split, combine, recapitalize or reclassify any of its equity interests or issue any other securities in respect thereof or pay or set aside any distribution or other dividend (whether in cash, equity or property or any combination thereof) in respect of its equity interests, or directly or indirectly redeem, purchase or otherwise acquire or offer to acquire any of its equity securities or securities interests;

 

 2.1.6.4 引致，创造，承担，支付或其他任何可以导致公司承担超过5万美元（单独或累计）负债的行为，对第三方贷款、预支或投资，或担保或为任何第三方背书，承担债务或承诺。

incur, create, assume, prepay or otherwise become liable for any indebtedness (directly, contingently or otherwise) in excess of $50,000 (individually or in the aggregate), make a loan or advance to or investment in any third party, or guarantee or endorse any indebtedness, liability or obligation of any third party;

 

 

 2.1.6.6 作出或撤销任何关于税务的重要选择，就税务问题作出的任何和解、起诉、诉讼、处置、仲裁、调查审计或争议，修正纳税申报表、退税申请，或就任何税务政策或程序进行重大变更。

make or rescind any material election relating to taxes, settle any claim, action, suit, litigation, proceeding, arbitration, investigation, audit or controversy relating to taxes, file any amended Tax Return or claim for refund, or make any material change in its accounting or Tax policies or procedures, in each case except as required by applicable law;

 

 2.1.6.7 转移或授予任何第三方，或扩展，作出重大修订，允许失效或无法保留丙方目前已注册的无形资产，知识产权，已注册知识产权或其他丙方持有的无形资产，或乙方授权丙方使用的无形资产，或向任何未签订保密协议的第三方公布任何甲方、丙方和丁方的商业秘密。

transfer or license to any third party or otherwise extend, materially amend or modify, permit to lapse or fail to preserve any of Party C’s registered intellectual property, licensed intellectual property or other intellectual property held by Party C or by Party B for the benefit of Party C, or disclose any of Party A, C or D’s trade secrets to any third party who has not entered into a confidentiality agreement; 

 

 

 2.1.6.9 未合理维护与过去交易相关的重要会计账簿，会计记录以及会计凭证。

fail to maintain its books, accounts and records in all material respects in the ordinary course of business consistent with past practice;

  

 2.1.6.12 对现有重大资产进行重新估值或对会计政策，准则或实践作出重大变更，美国通用会计准则和公司审计允许的部分除外。

revalue any of its material assets or make any change in accounting methods, principles or practices, except in compliance with GAAP and approved by the Company’s outside auditors;

 

 2.1.6.13 除只作出金钱赔偿外的，金额不超过5万美元的，或公司财务记录中已存在的就任何索赔、诉讼或纠纷的放弃，取消，分配，解决或和解。

waive, release, assign, settle or compromise any claim, action or proceeding (including any suit, action, claim, proceeding or investigation relating to this Agreement or the transactions contemplated hereby), other than waivers, releases, assignments, settlements or compromises that involve only the payment of monetary damages (and not the imposition of equitable relief on, or the admission of wrongdoing by, the Company or its Affiliates) not in excess of $50,000 (individually or in the aggregate), or otherwise pay, discharge or satisfy any Actions, Liabilities or obligations, unless such amount has been reserved in the Company Financials;

 2.1.6.14 结束或显著减少公司行为或努力，或解雇和减少公司员工。

close or materially reduce its activities, or effect any layoff or other personnel reduction or change, at any of its facilities;

 

 2.1.6.15 并购，包括任何兼并，吸收合并或购买任何股权或资产，或其他形式的业务整合，公司合并，设立合伙，有限公司或其他形式的业务组织或分布，或购买其他任何重大金额的正常业务需求以外的资产。

acquire, including by merger, consolidation, acquisition of stock or assets, or any other form of business combination, any corporation, partnership, limited liability company, other business organization or any division thereof, or any material amount of assets outside the ordinary course of business;

 

 2.1.6.16 作出超过5万美元的资本化支出。

make capital expenditures in excess of $50,000 (individually or in the aggregate);

 

 2.1.6.17 采取全面或部分清算、解散、兼并、吸收合并、重组、重新资本化或其他重组行为的计划。

adopt a plan of complete or partial liquidation, dissolution, merger, consolidation, restructuring, recapitalization or other reorganization;

 2.1.6.18 自愿承担重大合同中条款所涉及的或员工福利计划以外的任何金额超过5万美元的负债或义务。

voluntarily incur any Liability or obligation (whether absolute, accrued, contingent or otherwise) in excess of $50,000 (individually or in the aggregate) other than pursuant to the terms of a material contract or employee benefit plan;

  

 2.1.6.20 就丙方的投票权作出任何协议，理解或安排。

enter into any agreement, understanding or arrangement with respect to the voting of Party C’s securities;

 

 2.1.6.21 从事任何可能被合理认为将导致延迟或损害丙方取得任何与本协议相关的政府部门同意或批准的行为。

take any action that would reasonably be expected to delay or impair the obtaining of any consents or approvals of any governmental authority to be obtained in connection with this agreement;

 

 2.1.6.22 达成，修改，放弃或取消（根据条款需要取消的事项除外）与任何关联方的任何交易。

enter into, amend, waive or terminate (other than terminations in accordance with their terms) any transaction with any related parties; or

 

 2.1.6.23 授权或同意从事任何上述相关事项。

authorize or agree to do any of the foregoing actions.

 2.2 若乙方或丙方存在任何违反本协议第2.1条约定的情况，则甲方有权单方解除本协议，并要求乙方承担相应赔偿责任。

If Party B or Party C conducts any violation of the agreed conditions under Section 2.1, Party A shall have the right to unilaterally terminate this agreement, and require Party B to assume the corresponding liability.

 

 第三条 股份发行方案 Article 3 Share Issuance Plan

 3.1 各方同意，甲方拟向乙方支付共计600万美元的股份和现金，乙方一、乙方二及乙方三分别获发的股份数量/现金金额按照其各自在丙方的持股比例计算，前述股份发行/现金支付应分两期进行，其中：

All Parties agree that Party A intends to pay a total of US$6 million in a combination of shares and cash as consideration to Party B, Party B1, Party B2 and Party B3, which will be distributed in accordance with each party’s respective percentage of ownership interest in Party C. The above share issuance/cash payments will be completed in two phases, including:

 （1） 第一期拟向乙方发行360万美元的股份，每一股股份的金额为本协议签署日前二十个交易日甲方股份的加权平均股价的120%；

In the first phase (“Phase One”), Party A shall issue shares with an aggregate value of US$3,600,000 to Party B, the value of each share should be 120% of the weighted average price of the shares over the preceding 20 days before the agreement’s execution;

 

 （2）第二期拟向乙方支付240万美元的现金，但甲方有权依据本协议第3.3条关于业绩承诺的规定对实际支付的金额作出调整, 且该金额的支付需要满足第3.3条约定的其他条件。 且该金额的支付需要满足第3.3条约定的其他条件。

In the second phase (“Phase Two”), Party A intends to pay US$2.4 million to Party B in cash; However, Party A has the right to adjust the amount to be paid pursuant to the provisions of Section 3.3 of this agreement and such cash payment shall not be due and owing until the conditions set forth in Section 3.3 have been met.

 

 3.2 各方同意，在本协议生效且满足以下约定的条件后甲方应向乙方按照本协议3.1条的规定发行第一期股份：

All Parties agree that Party A shall issue the shares described in Section 3.1 above in accordance with the provisions of this agreement after execution of this Agreement and after the following conditions have been met:

 

 （1） 甲方已经对丙方完成了相关尽职调查，并对其调查结果满意；

Party A has completed due diligence on Party C, and Party A is satisfied with the results of such due diligence.

 

 （2） 本次股份发行已经取得所有相关的同意和批准，包括甲方股东大会的批准、丙方内部和其他第三方的批准，以及相关政府部门、证券交易所（Nasdaq）的批准（如有）；

All relevant consents and approvals have been obtained in connection with the share issuance, including approval by Party A’s shareholders, Party C and any required third party, related government departments, and the NASDAQ stock exchange, as required.

 

 （3） 各方已经签署在内容和形式上均令甲方接受的如附件一的控制协议；

All Parities have signed the control agreements as set forth in the Attachment A.

 

 （4） 丙方无重大不利变化。Party C has no material adverse change.

 

 （5） 所有根据本协议发行的股份均为限制性普通股，并设有12个月的锁定期期限即（“锁定期”），该期间内乙方将不得转让、担保或处置该部分股份。此外，锁定期内，乙方将授权甲方通知股份登记机构限制该部分股份的转让并设置相应标注。

All Shares issued pursuant to this Agreement shall be restricted ordinary shares and such shares shall be subject to a twelve (12) month lock-up period (the “Lock-Up Period”) during which Party B may not offer, sell pledge or otherwise dispose of the shares. Furthermore, during the Lock-Up Period, Party B authorizes the Party A to cause the transfer agent for the shares to decline to transfer and to note stop transfer restrictions on its stock register.

 3.3 各方同意，在满足以下约定的条件后甲方应向乙方支付第二期对价：

All Parties agree to proceed with the Phase Two payment, as described in Section 3.1 above, so long as the following conditions have been met:

 

 （1） 丙方无重大不利变化；Party C has no material adverse change;

 

 （2） 丙方达成以下业绩承诺：

Party C shall have reached the following performance goals:

 

 (a) 如果丙方2016财年可以实现净利润增长15%，则甲方将向乙方支付140万美元现金；如果丙方2017财年可以继续实现15%的净利润增长，则甲方将向乙方支付余下100万美元现金对价。

If Party C’s net profit for fiscal year 2016 shall increase by 15%, as compared with fiscal year 2015’s financial statements, Party A shall pay Party B $1.4 million in cash; If Party C’s net profit for fiscal year 2017 increases by an additional 15%, as compared with fiscal year 2016’s audited financial statements, Party A shall pay Party B the remaining $1.0 million in cash.

 

 (b) 如果丙方2016财年或2017财年的实际净利润增长率(N%)超过或者少于15%，

 

则2016财年或2017财年甲方将向乙方支付的现金金额=140万美元或者100万美元*( N%/15%)。

If Party C’s audited FY2016 and FY2017’s net profit growth rate exceed’s 15% (N%), Party A shall pay Party B an earn-out part by using the formula of $1.4 million or $1.0 million *(N%/15%).

 

 (c) 甲方依据上述3.3条(2)(b) 款实际向乙方支付的金额不得超过140万美元或100万美元的200%，亦不得少于140万美元或100万美元的50%，但本协议第3.4条另有规定的除外。

Party A shall, based on the above Section 3.3(2)(b), pay an amount to Party B not exceeding 200% of $1.4 million or $1.0 million, nor below 50% of $1.4 million or $1.0 million, except as otherwise provided in the item 3.4 in this Agreement.

 

 (d) 甲方依据上述3.3条（2）款应向乙方支付的义务将仅在甲方收到并分析确认丙方各对应财务年度经审计的财务结果后产生。鉴于此，公司依据这两次支付义务发生的时点将分别开始于2016年9月30日以及2017年9月30日。

The above amounts due under this section 3.3(2) shall not be due and owing until after Party A has received and analyzed, to its satisfaction, Party C’s audited financial statements for each respective fiscal year. As such, it is estimated that the payments, if any, shall be due and owing on or about September 30, 2016 and September 30, 2017.

 

 3.4 各方同意，如本协议第3.3条约定的业绩承诺期内丙方2016财年或2017年实际利润增长率为负，则甲方不再负有继续向乙方发行第二期股份或支付任何现金的义务。

All parties agree that, according to the performance commitments set forth in section 3.3, if Party C has a decrease in its actual net profit growth rate in FY2016, Party A shall not have any obligation to pay the Phase Two consideration to Party B.