EX-10.11 18 dex1011.htm DECLARATION LETTER BY ZHENGDONG ZHU, DATED MARCH 24, 2008 Declaration Letter by Zhengdong Zhu, dated March 24, 2008

Exhibit 10.11

STATEMENT

I, Zhu Zhengdong, the resident of People’s Republic of China (hereafter “China”) and the ID card number 320102196806142439, am now possessing 79% equity right of Beijing Dongda Zhengbao Science and Technology Co., Ltd (hereafter “S&T Company”). I, as the shareholder of S&T Company, hereby make the following statements about the profit distribution and other affairs:

 

1.

The profit distribution of RMB 5,951,631.32 (hereafter “ this Distribution”) ratified by Board of Directors of S&T Company in March of 2005 was the undistributed profit before the execution of Technology Support and Consulting Service Agreement (hereafter “TSC Agreement”) between S&T Company and Beijing Champion Distance Education Technology Co., Ltd (hereafter “Champion Company”) on May 1st, 2004;

 

2. This Distribution was one-off distribution, there will be no profit to be distributed to the shareholders of S&T Company after the mentioned distribution above;

 

3. This Distribution was ratified according to the rights empowered by article 17, Annex 1 of TSC Agreement, and there was no breach of TSC Agreement;

 

4. I, as the shareholder of S&T Company, have no intention and will not get any dividends from S&T Company; and

 

5. I, as the shareholder of S&T Company, will return all the dividends, less the taxes and expenses, to Champion Company according to relevant Chinese laws and regulations if I got any dividends from S&T Company after this Distribution mentioned above.

 

It is hereby stated.
Signature:   Zhu Zhengdong
Date:   March 24th, 2008

 

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