AMENDMENT 5 TO ACQUISITION AGREEMENT

EX-10.91 5 v461496_ex10-91.htm EXHIBIT 10.91

 

Exhibit 10.91

 

AMENDMENT 5 TO ACQUISITION AGREEMENT

 

This Amendment 5 to Acquisition Agreement (this “Amendment”), dated March 12, 2017 is entered into by and among China United Insurance Service, Inc., a company with limited liability incorporated under the laws of Delaware (“CUIS”) and the selling shareholders of Action Holdings Financial Limited (“AHFL”) as listed in Schedule I of this Amendment (the “Selling Shareholders”) .

 

CUIS and the Selling Shareholders are collectively referred to as the “Parties” and each a “Party” under this Amendment.

 

WHEREAS, the Parties entered into the Acquisition Agreement on August 24, 2012 (the “Agreement”), pursuant to which CUIS acquired any and all issued and outstanding shares of AHFL and became the sole shareholder of AHFL, and the Parties agreed that CUIS shall pay the consideration set forth in Section 2.2 of the Agreement for such acquisition.

 

WHEREAS, the Company and the selling shareholders of AHFL entered into a fourth amendment to the Agreement, pursuant to which, on or prior to March 31, 2017, the Company agreed to distribute the cash payment in the amount of NT$15 million.

 

WHEREAS, the Selling Shareholders and CUIS desire to amend certain provisions of Sections 2.2(iii) of the Agreement.

 

NOW, THEREFORE, in consideration of the mutual covenants and undertakings contained herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and subject to and on the terms and conditions set forth herein, the Parties hereto agree as follows:

 

To amend and restate Sections 2.2(iii):

(iii) pay NT$15 million to the Selling Shareholders in the amounts set forth opposite each Selling Shareholder's name on Schedule I on or prior to March 31, 2019 or at any other time or in any other manner otherwise agreed upon by and among the Parties.

 

Capitalized terms defined in the Agreement have, unless expressly defined in this Amendment or the context requires otherwise, the same meaning in the Agreement.

 

 

 

 

Except amended by this Amendment, any other provision of the Agreement shall remain unchanged. This Amendment together with the Agreement shall constitute the entire agreement among the Parties with respect to the subject matter of the Agreement and shall supersede all previous communications of the Parties in respect of the subject matter of the Agreement. This Amendment is made in one or more counterparts, all of which will be considered one and the same agreement and will become effective. When one or more counterparts have been signed by each of the parties and delivered to the other parties, it being understood that all parties need not sign the same counterpart.

 

IN WITNESS WHEREOF the Parties hereto have executed this Amendment as of the day and year first above written.

 

China United Insurance Service, Inc.
 
By: /s/Yi-Hsiao Mao  
Name: Yi-Hsiao Mao
Title: Director

  

 

 

 

By: /s/ MAO YI HSIAO   By: /s/ CHOU CHUNG HSIEN
Name: MAO YI HSIAO   Name: CHOU CHUNG HSIEN
     
By: /s/ CHEN HUNG JU   By: /s/ YU HENG CHI
Name: CHEN HUNG JU   Name: YU HENG CHI
     
By: /s/ CHENG MIN LUNG   By: /s/ CHEN HSIN CHU
Name: CHENG MIN LUNG   Name: CHEN HSIN CHU
     
By: /s/ LEE TSUN HSING   By: /s/ CHEN SHU TZU
Name: LEE TSUN HSING   Name: CHEN SHU TZU
     
By: /s/ YEH FU CHAO   By: /s/ CHEN YING CHANG
Name: YEH FU CHAO   Name: CHEN YING CHANG
     
By: /s/ HSU MING CHU   By: /s/ CHEN YI CHING
Name: HSU MING CHU   Name: CHEN YI CHING
     
By: /s/ YU WANG CHIN   By: /s/ YANG LI LING
Name: YU WANG CHIN   Name: YANG LI LING
     
By: /s/ WANG LING SHUEH   By: /s/ CHEN PO CHIANG
Name: WANG LING SHUEH   Name: CHEN PO CHIANG
     
By: /s/ CHEN HSIAO HUNG   By: /s/ CHIANG WEN TE
Name: CHEN HSIAO HUNG   Name: CHIANG WEN TE
     
By: /s/ LI BI E   By: /s/ LIN KUNG YEN
Name: LI BI E   Name: LIN KUNG YEN
     
By: /s/ YANG CHE CHIA   By: /s/ HONG ZHONG NAN
Name: YANG CHE CHIA   Name: HONG ZHONG NAN
     
By: /s/ CHOU SHIOU HUEI   By: /s/ JIAN SU HUA
Name: CHOU SHIOU HUEI   Name: JIAN SU HUA
     
By: /s/ HSU YA LIN   By: /s/ HAO CHIEH
Name: HSU YA LIN   Name: HAO CHIEH
     
By: /s/ WANG JEN CHUAN   By: /s/ WANG MEI HUI
Name: WANG JEN CHUAN   Name: WANG MEI HUI
     
By: /s/ LIAO YUNG MING   By: /s/ LIU TA WEI
Name: LIAO YUNG MING   Name: LIU TA WEI
     
By: /s/ CHANG CHIEN HAN CHUNG   By: /s/ CHENG HSING LING
Name: CHANG CHIEN HAN CHUNG   Name: CHENG HSING LING

 

 

 

 

By: /s/ YANG HSIU YUN   By: /s/ LIN TING HUA
Name: YANG HSIU YUN   Name: LIN TING HUA
     
By: /s/ LIN CHU CHUN   By: /s/ LEE YAO TUNG
Name: LIN CHU CHUN   Name: LEE YAO TUNG
     
By: /s/ TSAI CHIH HUNG   By: /s/ HUANG SHU JHEN
Name: TSAI CHIH HUNG   Name: HUANG SHU JHEN
     
By: /s/ TSAI KUO SUNG   By: /s/ CHAO HUI HSIEN
Name: TSAI KUO SUNG   Name: CHAO HUI HSIEN
     
By: /s/ WU CHI TAI   By: /s/ HSU PEI YU
Name: WU CHI TAI   Name: HSU PEI YU
     
By: /s/ CHEN HSUAN YU   By: /s/ TU WEI PIN
Name: CHEN HSUAN YU   Name: TU WEI PIN
     
By: /s/ JIANG KAI WEI   By: /s/ TU CHENG WEI
Name: JIANG KAI WEI   Name: TU CHENG WEI
     
By: /s/ LIN CHUN WEI   By: /s/ CHAN HUI YING
Name: LIN CHUN WEI   Name: CHAN HUI YING
     
By: /s/ TU WEN TI   By: /s/ CHUANG YUNG CHI
Name: TU WEN TI   Name: CHUANG YUNG CHI
     
By: /s/ SHEN WEN CHE   By: /s/ CHIN LI HSUN
Name: SHEN WEN CHE   Name: CHIN LI HSUN
     
By: /s/ HSIEH TUNG CHI   By: /s/ YEH JEI HUA
Name: HSIEH TUNG CHI   Name: YEH JEI HUA
     
By: /s/ CHEN YU ZHEN   By: /s/ LIN CHIN CHIANG
Name: CHEN YU ZHEN   Name: LIN CHIN CHIANG
     
By: /s/ TSAO CHIH TANG   By: /s/ SHIH YEN CHIN
Name: TSAO CHIH TANG   Name: SHIH YEN CHIN
     
By: /s/ CHENG YA FEN   By: /s/ CHEN HSIANG LI
Name: CHENG YA FEN   Name: CHEN HSIANG LI
     
By: /s/ HUANG CHUN CHIEH   By: /s/ LIU YU FANG
Name: HUANG CHUN CHIEH   Name: LIU YU FANG

 

 

 

 

By: /s/ TUNG SU LAN   By: /s/ CHANG HUI CHUN
Name: TUNG SU LAN   Name: CHANG HUI CHUN
     
By: /s/ YEN YU HSUN   By: /s/ YEH WAN YU
Name: YEN YU HSUN   Name: YEH WAN YU
     
By: /s/ CHEN MING HSIU   By: /s/ YANG HSIANG HUI
Name: CHEN MING HSIU   Name: YANG HSIANG HUI
     
By: /s/ NIEN HUI CHU   By: /s/ CHIH YING PEI
Name: NIEN HUI CHU   Name: CHIH YING PEI
     
By: /s/ SHEN KAI FONG   By: /s/ WANG LING SHIH
Name: SHEN KAI FONG   Name: WANG LING SHIH
     
By: /s/ CHEN HSIAO MEI   By: /s/ CHENG YEN WEN
Name: CHEN HSIAO MEI   Name: CHENG YEN WEN
     
U-Li Investment Consulting Enterprise Co., Ltd.   Marcopolo Investment Company Ltd.
By: /s/ LEE SHU FEN   By: /s/ CHOU CHUNG HSIEN
Name: LEE SHU FEN   Name: CHOU CHUNG HSIEN
Title: Director   Title: Director
     
CHENG HENG Investment Co., Ltd.   HONG YUAN Investment Co., Ltd.
By: /s/ YU HENG CHI   By: /s/ LEE TSUN HSING
Name: YU HENG CHI   Name: LEE TSUN HSING
Title: Director   Title: Director
     
FENG SHOU Investment Co., Ltd.   By: /s/ CHEN CHANG CHIH
By: /s/ CHEN HUNG JU   Name: CHEN CHANG CHIH
Name: CHEN HUNG JU    
Title: Director    

 

 

 

 

Schedule I

 

No.   Shareholder Name   Amount of Cash Paid to the Selling
Shareholders on or prior to March 31, 2019
1    MAO YI HSIAO   1,366,117
2   CHOU CHUNG HSIEN   91,941
3   CHEN HUNG JU   974,276
4   YU HENG CHI   487,345
5   CHENG MIN LUNG   583,112
6   CHEN HSIN CHU   155,285
7   LEE TSUN HSING   20,633
8   CHEN SHU TZU   103,089
9   YEH FU CHAO   109,494
10   CHEN YING CHANG   206,357
11   HSU MING CHU   315,082
12   CHEN YI CHING   40,122
13   YU WAN CHIN   33,440
14   YANG LI LING   100,036
15   WANG LING SHUEH   8,345
16   CHEN PO CHIANG   8,741
17   CHEN HSIAO HUNG   36,292
18   CHIANG WEN TE   380,343
19   LE BI E   26,914
20   LIN KUNG YEN   38,362
21   YANG CHE CHIA   98,248
22   HONG ZHONG NAN   43,317
23   CHOU SHIOU HUEI   26,049
24   JIAN SU HUA   37,669

 

 

 

 

No.   Shareholder Name   Amount of Cash Paid to the Selling
Shareholders on or prior to March 31, 2019
25   HSU YA LIN   170,464
26   HAO CHIEH   40,020
27   WANG JEN CHUAN   14,514
28   WANG MEI HUI   7,457
29   LIAO YUNG MING   29,793
30   LIU TA WEI   102,102
31   CHANG CHIEN HAN CHUNG   50,507
32   CHENG HSING LING   40,319
33   YANG HSIU YUN   20,126
34   LIN TING HUA   101,928
35   LIN CHU CHUN   34,232
36   LEE YAO TUNG   27,535
37   TSAI CHIH HUNG   42,855
38   HUANG SHU CHEN   6,651
39   TSAI KUO SUNG   96,892
40   WU CHI TAI   14,053
41   HSU PEI YU   15,215
42   CHEN HSUAN YU   37,659
43   TU WEI PIN   38,304
44   JIANG KAI WEI   29,187
45   TU CHENG WEI   25,681
46   LIN CHUN WEI   6,589
47   CHAN HUI YING   7,688
48   CHAO HUI HSIEN   115,275
49   TU WEN TI   32,531
50   CHUANG YUNG CHI   35,360
51   SEHN WEN CHE   39,684
52   CHIN LI HSUN   20,206
53   HSIEH TUNG CHI   30,440
54   YEH JEI HUA   37,886

 

 

 

 

No.   Shareholder Name   Amount of Cash Paid to the Selling
Shareholders on or prior to March 31, 2019
55   CHEN YU ZHEN   10,103
56   LIN CHIN CHIANG   12,558
57   TSAO CHIH TANG   3,293
58   SHIH YEN CHIN   10,224
59   CHENG YA FEN   6,627
60   CHEN HSIANG LI   10,224
61   HUANG CHUN CHIEH   10,224
62   LIU YU FANG   10,224
63   TUNG SU LAN   6,890
64   CHANG HUI CHUN   20,460
65   YEN YU HSUN   5,819
66   YEH WAN YU   10,224
67   CHEN MING HSIU   6,890
68   YANG HSIANG HUI   10,224
69   NIEN HUI CHU   10,224
70   CHIH YIN PEI   10,224
71   SHEN KAI FONG   3,334
72   WANG LING SHIH   3,596
73   CHEN HSIAO MEI   3,596
74   CHENG YEN WEN   3,596
75   U-Li Investment Consulting Enterprise Co., Ltd.   5,107,500
76   Marcopolo Investment Company Ltd.   909,254
77   CHENG HENG Investment Co., Ltd.   858,740
78   HONG YUAN Investment Co., Ltd.   626,375
79   FENG SHOU Investment Co., Ltd.   757,712
80   CHEN CHANG CHIH   10,103
Total       NT$15 MILLION