Shareholding Entrustment Agreement between Capital Future Development Limited and Yimin Zhang regarding Zhejiang Yong Xing Digital Technology Co. Ltd.
This agreement is between Capital Future Development Limited (Party A) and Yimin Zhang (Party B) concerning shares in Zhejiang Yong Xing Digital Technology Co. Ltd. Party B holds 20% of Zhejiang's equity on behalf of Party A, who is the actual owner and beneficiary of the shares. Party B must act according to Party A's instructions and transfer any benefits received from the shares to Party A. Changes to the agreement require written consent from both parties. Disputes are to be resolved by negotiation or, if necessary, arbitration in Hong Kong.
Zhejiang Yong Xing Digital Technology Co. Ltd.
Share-holding Entrustment Agreement
Zhejiang Yong Xing Digital Technology Co. Ltd. (“Zhejiang”) was organized on July 11, 2005. This entrustment agreement (hereinafter called as “this agreement”) was signed by following parties (hereinafter called as “agreement parties”)
Party A: Capital Future Development Limited (“Capital”) was lawfully established on July 22, 2004. Capital has the right to enjoy the actual shareholder’s rights and has the right to obtain any benefits Party B received from Zhejiang.
Party B: Yimin Zhang is a citizen of PRC, his national ID number is _____________________. Zhenggang Wang is the nominal holder of 20% equity of Zhejiang.
| I. | Being as the actual investor of share-holding on behalf of the holder, Party A has the right to enjoy actual shareholder’s rights and has the right to obtain relevant investing income received by Party B. |
| II. | Party A will take the full legal and economic responsibilities in association with the acquisition of Zhejiang’s equity as well as executing the share-holding entrustment. |
| III. | Party A is the actual owner of Zhejiang’s equity. Party B will hold the shares on behalf of Party A. Party B will follow Party A’s command to perform all the relevant procedures to complete the share-holding entrustment. |
| IV. | Any modification or cancellation for this agreement will go into effect only after both parties have signed the written agreement. Any party can not modify or cancel this agreement without consent of the other party. When the agreement parties have disputes with respect to interpretation and implementation of items of this agreement, all parties shall settle disputes through friendly negotiation. Either party can seek arbitration to make a settlement per Hongkong rules and law if the disputes can’t be settled through negotiation. The arbitration locale is Hongkong. |
| V. | This agreement is in duplicate and each party holds one. This agreement will go into effect since Party A’s authorized representative affixes the signature and the official seal and Party B Together affixes the signature. |
Party A: Capital Future Development Limited (stamp)
Authorized representative:/s/ Zhenggang Wang (signature)
Party B: Yimin Zhang: /s/ Yimin Zhang (signature)
