EX-4.28 3 a14-8169_1ex4d28.htm EX-4.28

Exhibit 4.28

 

Share Pledge Agreement

 

This Share Pledge Agreement (this “Agreement”) has been executed by and among the following Parties on July 1st,2013, in Beijing, People’s Republic of China (“PRC”):

 

Party A: ChinaCache Network Technology (Beijing) Co., Ltd. (hereinafter “Pledgee”)

Address:  Floor 6, Tower A, Galaxy Plaza, No.10 Jiu Xian Qiao Middle Road, Chaoyang District, 100016, Beijing

 

Party B: Wang Lei (hereinafter “Pledgor”)

ID Number:

 

Party C: Beijing Jingtian Technology Limited

Address: 807, Tower D, No.9 Shang Di Third Street, Haidian District, Beijing

 

In this Agreement, each of Pledgee, Pledgor and Party C shall be referred to as a “Party” respectively, and they shall be collectively referred to as the “Parties”.

 

Whereas:

 

1.                  Party C is a limited liability company registered in Beijing, China engaging in software system development business and/or other business approved by Pledgee.  Pledgor is the citizens of the PRC, and holds 50% of the equity interest in Party C.  Party C intends to acknowledge the respective rights and obligations of Pledgor and Pledgee under this Agreement, and to provide any necessary assistance in registering the Pledge;

 

2.                  Pledgee is a wholly foreign owned enterprise registered in Beijing, China. Pledgee and Party C, which is partially owned by Pledgor, have executed an Exclusive Business Cooperation Agreement on July 31, 2008;

 

3.                  To ensure that Party C performs its obligations under the Exclusive Business Cooperation Agreement and pay the consulting and service fees in accordance with said agreement, Pledgor hereby pledges all of the equity interest she holds in Party C as security for Party C’s payment of the consulting and service fees under the Exclusive Business Cooperation Agreement.

 

To perform the provisions of the Exclusive Business Cooperation Agreement, the Parties have mutually agreed to execute this Agreement upon the following terms.

 

1.                  Definitions

 

Unless otherwise provided herein, the terms below shall have the following meanings:

 

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1.1                     Pledge: shall refer to the security interest granted by Pledgor to Pledgee pursuant to Article 2 of this Agreement, i.e., the right of Pledgee to be compensated on a preferential basis with the conversion, auction or sales price of the Equity Interest.

 

1.2                     Equity Interest: shall refer to all of the equity interest lawfully now held and hereafter acquired by Pledgor in Party C.

 

1.3                     Term of Pledge: shall refer to the term set forth in Section 3.2 of this Agreement.

 

1.4                     Exclusive Business Cooperation Agreement: shall refer to the Exclusive Business Cooperation Agreement executed by and between Pledgee and Party C on July 31, 2008.

 

1.5                     Event of Default: shall refer to any of the circumstances set forth in Article 7 of this Agreement.

 

1.6                     Notice of Default: shall refer to the notice issued by Pledgee in accordance with this Agreement declaring an Event of Default.

 

2.                  The Pledge

 

As collateral security for the prompt and complete payment and performance when due (whether at stated maturity, by acceleration or otherwise) of any or all the payments due by Party C, including without limitation the consulting and services fees payable to the Pledgee under the Exclusive Business Cooperation Agreement, Pledgor hereby pledges to Pledgee a first security interest in all of Pledgor’s right, title and interest, whether now owned or hereafter acquired by Pledgor, in the Equity Interest of Party C.

 

3.                  Term of Pledge

 

3.1                     The Pledge shall become effective as of the date when the pledge of the Equity Interest is registered with competent administration of industry and commerce. The Pledge shall be continuously valid until all payments due under the Principal Agreements have been fulfilled by Party C. The Parties agree that Pledgor and Party C shall register the Pledge in the shareholders’ register of Party C within 3 business days following the execution of this Agreement, and register the pledge under this Agreement with competent administration of industry and commerce within 10 days (“Share Pledge Registration”).

 

3.2                     During the Term of Pledge, in the event Party C fails to pay the consulting or service fees in accordance with the Exclusive Business Cooperation Agreement, Pledgee shall have the right, but not the obligation, to dispose of the Pledge in accordance with the provisions of this Agreement.

 

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4.                 Custody of Records for Equity Interest subject to Pledge

 

4.1                     During the Term of Pledge set forth in this Agreement, Pledgor shall deliver to Pledgee’s custody the capital contribution certificate for the Equity Interest and the shareholders’ register containing the Pledge within one week from the execution of this Agreement, and evidence of share pledge registration (“Pledge Registration Documents”) within one week after completion of the share pledge registration. Pledgee shall have custody of such items during the entire Term of Pledge set forth in this Agreement.

 

4.2                     Pledgee shall have the right to collect dividends generated by the Equity Interest during the Term of Pledge.

 

5.                  Representations and Warranties of Pledgor

 

5.1                     Pledgor is the sole legal and beneficial owner of the Equity Interest.

 

5.2                     Pledgee shall have the right to dispose of and transfer the Equity Interest in accordance with the provisions set forth in this Agreement.

 

5.3                     Except for the Pledge, Pledgor has not placed any security interest or other encumbrance on the Equity Interest.

 

6.                  Covenants and Further Agreements of Pledgor

 

6.1                     Pledgor hereby covenants to the Pledgee, that during the term of this Agreement, Pledgor shall:

 

6.1.1                    not transfer the Equity Interest, place or permit the existence of any security interest or other encumbrance that may affect the Pledgee’s rights and interests in the Equity Interest, without the prior written consent of Pledgee, except for the performance of the Exclusive Option Agreement executed by Pledgor, Pledgee and Party C on the date of this Agreement;

 

6.1.2                    comply with the provisions of all laws and regulations applicable to the pledge of rights, and within 5 days of receipt of any notice, order or recommendation issued or prepared by relevant competent authorities regarding the Pledge, shall present the aforementioned notice, order or recommendation to Pledgee, and shall comply with the aforementioned notice, order or recommendation or submit objections and representations with respect to the aforementioned matters upon Pledgee’s reasonable request or upon consent of Pledgee;

 

6.1.3                    promptly notify Pledgee of any event or notice received by Pledgor that may have an impact on Pledgee’s rights to the Equity Interest or

 

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any portion thereof, as well as any event or notice received by Pledgor that may have an impact on any guarantees and other obligations of Pledgor arising out of this Agreement.

 

6.2                     Pledgor agrees that the rights acquired by Pledgee in accordance with this Agreement with respect to the Pledge shall not be interrupted or harmed by Pledgor or any heirs or representatives of Pledgor or any other persons through any legal proceedings.

 

6.3                     To protect or perfect the security interest granted by this Agreement for payment of the consulting and service fees under the Exclusive Business Cooperation Agreement, Pledgor hereby undertakes to execute in good faith and to cause other parties who have an interest in the Pledge to execute all certificates, agreements, deeds and/or covenants required by Pledgee.  Pledgor also undertakes to perform and to cause other parties who have an interest in the Pledge to perform actions required by Pledgee, to facilitate the exercise by Pledgee of its rights and authority granted thereto by this Agreement, and to enter into all relevant documents regarding ownership of Equity Interest with Pledgee or designee(s) of Pledgee (natural/legal persons).  Pledgor undertakes to provide Pledgee within a reasonable time with all notices, orders and decisions regarding the Pledge that are required by Pledgee.

 

6.4                     Pledgor hereby undertakes to comply with and perform all guarantees, promises, agreements, representations and conditions under this Agreement. In the event of failure or partial performance of its guarantees, promises, agreements, representations and conditions, Pledgor shall indemnify Pledgee for all losses resulting therefrom.

 

7.                  Event of Breach

 

7.1                     The following circumstances shall be deemed Event of Default:

 

7.1.1                    Party C fails to perform any obligations under the Exclusive Business Cooperation Agreement, including but not limited to its failure to pay in full any of the consulting and service fees payable under the Exclusive Business Cooperation Agreement or breaches any other obligations of Party C thereunder;

 

7.1.2                    Any representation or warranty by Pledgor in Article 5 of this Agreement contains material misrepresentations or errors, and/or Pledgor violates any of the warranties in Article 5 of this Agreement;

 

7.1.3                    Pledgor and Party C substantially breach any provisions of this Agreement, or fails to correct such breach within 30 days after being notified by the non-breaching party;

 

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7.1.4                    Except as expressly stipulated in Section 6.1.1, Pledgor transfers or purports to transfer or abandons the Equity Interest pledged or assigns the Equity Interest pledged without the written consent of Pledgee;

 

7.1.5                    Any of Pledgor’s own loans, guarantees, indemnifications, promises or other debt liabilities to any third party or parties (1) become subject to a demand of early repayment or performance due to default on the part of Pledgor; or (2) become due but are not capable of being repaid or performed in a timely manner;

 

7.1.6                    Any approval, license, permit or authorization of government agencies that makes this Agreement enforceable, legal and effective is withdrawn, terminated, invalidated or substantively changed;

 

7.1.7                    The promulgation of applicable laws renders this Agreement illegal or renders it impossible for Pledgor to continue to perform its obligations under this Agreement;

 

7.1.8                    The successor or custodian of Party C is capable of only partially perform or refuses to perform the payment obligations under the Exclusive Business Cooperation Agreement; and

 

7.1.9                    Any other circumstances occur where Pledgee is or may become unable to exercise its right with respect to the Pledge.

 

7.2                     Upon notice or discovery of the occurrence of any circumstances or event that may lead to the aforementioned circumstances described in Section 7.1, Pledgor shall immediately notify Pledgee in writing accordingly.

 

7.3                     Unless an Event of Default set forth in this Section 7.1 has been successfully resolved to Pledgee’s satisfaction, Pledgee may issue a Notice of Default to Pledgor in writing upon the occurrence of the Event of Default or at any time thereafter and demand that Pledgor immediately pay all outstanding payments due under the Principal Agreements and all other payments due to Pledgee, and/or dispose of the Pledge in accordance with the provisions of Article 8 of this Agreement.

 

8.                  Exercise of Right

 

8.1                     Prior to the full payment of the consulting and service fees described in the Principal Agreements, without the Pledgee’s written consent, Pledgor shall not assign the Pledge or the Equity Interest in Party C.

 

8.2                     Pledgee may issue a Notice of Default to Pledgor when exercising the Pledge.

 

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8.3                     Subject to the provisions of Section 7.3, Pledgee may exercise the right to enforce the Pledge concurrently with the issuance of the Notice of Default in accordance with Section 7.2 or at any time after the issuance of the Notice of Default. Once Pledgee elects to enforce the Pledge, Pledgor shall cease to be entitled to any rights or interests associated with the Equity Interest.

 

8.4                     In the event of default, Pledgee is entitled to take possession of the Equity Interest pledged hereunder and to dispose of the Equity Interest pledged, to the extent permitted and in accordance with applicable laws, without obligation to account to Pledgor for proceeds of disposition and Pledgor hereby waives any rights it may have to demand any such accounting from Pledgee. Likewise, in such circumstance Pledgor shall have no obligation to Pledgee for any deficiency remaining after such disposition of the Equity Interest pledged.

 

8.5                     When Pledgee disposes of the Pledge in accordance with this Agreement, Pledgor and Party C shall provide necessary assistance to enable Pledgee to enforce the Pledge in accordance with this Agreement.

 

9.                  Assignment

 

9.1                     Without Pledgee’s prior written consent, Pledgor shall not have the right to assign or delegate its rights and obligations under this Agreement.

 

9.2                     This Agreement shall be binding on Pledgor and its successors and permitted assigns, and shall be valid with respect to Pledgee and each of its successors and assigns.

 

9.3                     At any time, Pledgee may assign any and all of its rights and obligations under the Principal Agreements to its designee(s) (natural/legal persons), in which case the assigns shall have the rights and obligations of Pledgee under this Agreement, as if it were the original party to this Agreement. When the Pledgee assigns the rights and obligations under the Principal Agreements, upon Pledgee’s request, Pledgor shall execute relevant agreements or other documents relating to such assignment.

 

9.4                     In the event of a change in Pledgee due to an assignment, Pledgor shall, at the request of Pledgee, execute a new pledge agreement with the new pledgee on the same terms and conditions as this Agreement, and make modification registration with competent administration of industry and commerce.

 

9.5                    Pledgor shall strictly abide by the provisions of this Agreement and other contracts jointly or separately executed by the Parties hereto or any of them, including the Exclusive Option Agreement and the Power of Attorney granted to Pledgee, perform the obligations hereunder and thereunder, and refrain from any action/omission that may affect the effectiveness and

 

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enforceability thereof. Any remaining rights of Pledgor with respect to the Equity Interest pledged hereunder shall not be exercised by Pledgor except in accordance with the written instructions of Pledgee.

 

10.           Termination

 

Upon the full payment of the consulting and service fees under the Exclusive Business Cooperation Agreement and upon termination of Party C’s obligations under the Principal Agreements, this Agreement shall be terminated, and Pledgee shall then cancel or terminate this Agreement as soon as reasonably practicable.

 

11.           Handling Fees and Other Expenses

 

All fees and out of pocket expenses relating to this Agreement, including but not limited to legal costs, costs of production, stamp tax and any other taxes and fees, shall be borne by Party C.

 

12.           Confidentiality

 

The Parties acknowledge that any oral or written information exchanged among them with respect to this Agreement is confidential information. Each Party shall maintain the confidentiality of all such information, and without obtaining the written consent of other Parties, it shall not disclose any relevant information to any third parties, except in the following circumstances: (a) such information is or will be in the public domain (provided that this is not the result of a public disclosure by the receiving party); (b) information disclosed as required by applicable laws or rules or regulations of any stock exchange; or (c) information required to be disclosed by any Party to its legal counsel or financial advisor regarding the transaction contemplated hereunder, and such legal counsel or financial advisor are also bound by confidentiality duties similar to the duties in this section. Disclosure of any confidential information by the staff members or agency hired by any Party shall be deemed disclosure of such confidential information by such Party, which Party shall be held liable for breach of this Agreement. This section shall survive the termination of this Agreement for any reason.

 

13.           Governing Law and Resolution of Disputes

 

13.1            The execution, effectiveness, construction, performance, and the resolution of disputes hereunder shall be governed by laws of PRC.

 

13.2           In the event of any dispute with respect to the construction and performance of the provisions of this Agreement, the Parties shall negotiate in good faith to resolve the dispute. In the event the Parties fail to reach an agreement on the resolution of such a dispute within 30 days after any Party’s request for resolution of the dispute through negotiations, any Party may submit the relevant dispute to the China International Economic and Trade Arbitration Commission for arbitration, in accordance with its then effective arbitration

 

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rules. The arbitration shall be conducted in Beijing, and the language used during arbitration shall be Chinese. The arbitration ruling shall be final and binding on all Parties.

 

13.3            Upon the occurrence of any disputes arising from the construction and performance of this Agreement or during the pending arbitration of any dispute, except for the matters under dispute, the Parties to this Agreement shall continue to exercise their respective rights under this Agreement and perform their respective obligations under this Agreement.

 

14.           Notices

 

14.1            All notices and other communications required or permitted to be given pursuant to this Agreement shall be delivered personally or sent by registered mail, postage prepaid, by a commercial courier service or by facsimile transmission to the address of such party set forth below. A confirmation copy of each notice shall also be sent by E-mail. The dates on which notices shall be deemed to have been effectively given shall be determined as follows:

 

14.1.1              Notices given by personal delivery, by courier service or by registered mail, postage prepaid, shall be deemed effectively given on the date of delivery or refusal at the address specified for notices.

 

14.1.2              Notices given by facsimile transmission shall be deemed effectively given on the date of successful transmission (as evidenced by an automatically generated confirmation of transmission).

 

14.2            For the purpose of notices, the addresses of the Parties are as follows:

 

Party A: Floor 6, Tower A, Galaxy Plaza, No.10 Jiu Xian Qiao Middle Road, Chaoyang District, 100016, Beijing

Fax: +8610-6437 4251

 

Party B: Wang Lei

Fax:   +8610-6437 4251

 

Party C: 807, Tower D, No.9 Shang Di Third Street, Haidian District, Beijing

Fax:

 

14.3            Any Party may at any time change its address for notices by a notice delivered to the other Parties in accordance with the terms hereof.

 

15.           Severability

 

In the event that one or several of the provisions of this Contract are found to be invalid, illegal or unenforceable in any aspect in accordance with any laws or

 

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regulations, the validity, legality or enforceability of the remaining provisions of this Contract shall not be affected or compromised in any respect. The Parties shall strive in good faith to replace such invalid, illegal or unenforceable provisions with effective provisions that accomplish to the greatest extent permitted by law and the intentions of the Parties, and the economic effect of such effective provisions shall be as close as possible to the economic effect of those invalid, illegal or unenforceable provisions.

 

16.           Attachments

 

The attachments set forth herein shall be an integral part of this Agreement.

 

17.           Effectiveness

 

17.1            Any amendments, changes and supplements to this Agreement shall be in writing and shall become effective upon completion of the governmental filing procedures after the affixation of the signatures or seals of the Parties.

 

17.2            This Agreement is written in Chinese in three copies.  Pledgor, Pledgee and Party C shall hold one copy respectively.  Each copy of this Agreement shall have equal validity.

 

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IN WITNESS THEREOF, the Parties have caused their authorized representatives to sign this Share Pledge Agreement on the date first above written.

 

 

Party A: Beijing Network Technology (Beijing) Co., Ltd.

 

 

 

 

 

By:

/s/ Song Wang

 

Name: Song Wang

 

Title: Legal Representative

 

 

 

 

 

Party B: Wang Lei

 

 

 

By:

/s/ Wang Lei

 

 

 

 

 

Party C: Beijing Jingtian Technology Limited

 

 

 

 

 

By:

/s/ Ying Huiling

 

Name: Ying Huiling

 

Title: Legal Representative

 

 

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