Exclusive Option Agreement.docx
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Exclusive Option Agreement.docx
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ExclusiveOptionAgreement
EXCLUSIVEOPTIONAGREEMENT
AMONG
YANGLINGSLOVANPHARMACEUTICALCO.,LTD
AND
THETHIRTEENPERSONSINCLUDINGZHAODONGKE
AND
YANGLINGDONGKEMAIDISENPHARMACEUTICALSCO.,LTD.
Jan,2010
CHINA
EXCLUSIVEOPTIONAGREEMENT
ThisExclusiveOptionAgreement(the“Agreement”)isenteredintoasofJan,2010betweenthefillowingparties.
PartyA:
YanglingSlovanPharmaceuticalCo.,Ltd
RegisteredAddress:
Building4ofIncubatorCenterXinqiaoroad,YangLingHigh-techofAgricultureDemonstrationRegion,ShaanxiProcince.P.R.China
LegalRepresentative:
ZhangLihong
PartyB:
ZhaoDongke,PRCcitizenwithIDCardnumber[]
WeiJingkun,PRCcitizenwithIDCardnumber[]
ZhaoJine,PRCcitizenwithIDCardnumber[]
YangQuanfu,PRCcitizenwithIDCardnumber[]
ZhaoWenyan,PRCcitizenwithIDCardnumber[]
YangXueli,PRCcitizenwithIDCardnumber[]
LiGang,PRCcitizenwithIDCardnumber[]
ZhangGuofeng,PRCcitizen,IDCardnumber[]
ZhaoRuojing,PRCcitizenwithIDCardnumber[]
ZhaoYaolong,PRCcitizenwithIDCardnumber[]
SuTong,PRCcitizenwithIDCardnumber[]
ZhangDaokai,PRCcitizen,IDCardnumber[]
ZhangJiansheng,PRCcitizen,IDCardnumber[]
PartyC:
YanglingDongkeMaidisenPharmaceuticalsCo.,Ltd.
RegisteredAddress:
No.8ofXinqiaoroad,YangLingHigh-tech
ofAgricultureDemonstrationRegion,SnaaxiProcince.P.R.China.
LegalRepresentative:
ZhaoDongke
InthisAgreement,PartyA,PartyBandPartyCarecalledcollectivelyasthe
“Parties”andeachofthemiscalledasthe“Party”.
WHEREAS:
1.PartyAisawhollyforeign-ownedenterpriseincorporatedunderthe
lawsofthePeople`sRepublicofChina(the“PRC”);
2.PartyCisalimitedliabilitycompanyincorporatedinShaanxi
YanglingandwithbusinesslicenseissuedbytheYanglingMunicipalAdministrationforIndustryandCommerce;
3.AsofthedateofthisAgreementPartyBareshareholdersofPartyCandcollectivelylegallyholdalloftheequityinterestofPartyC.UnderthisAgreement,PartyB,TheThirteenPersonsincludingZhaoDongke,haveactedcollectivelyasoneparttothisAgreement.
ThePartiesthroughmutualnegotiationsherebyenterintothisAgreement
accordingtothefollowingtermsandconditions:
1.THEGRANTANDEXERCISEOFPURCHASEOPTION
1.1Grant:
PartyBherebygrantPartyAanirrevocableexclusivepurchaseoption.PartyAhasrighttopurchaseallorpartofthesharesofPartyCcurrentlyownedbyanyofPartyB,ortopurchaseallorpartoftheassetsofPartyCineachcaseinaccordancewithArticle1.3ofthiscontract.This
purchaseoptionisirrevocableandshallbeexercisedonlybyPartyA(or
thequalifiedpersonsappointedbyPartyA).Theterm“person”used
hereinshallincludeanyentity,corporation,partnership,joinventureand
noncorporateorganizationgs.
1.2ExerciseProcedures:
PartyAshallnotifyPartyBinwritingpriortoexercisingitsoption(the“OptionNotice”hereinafter).
ThenextdayuponreceiptoftheOptionNotice,PartyBandC,togetherwithPartyA(orthequalifiedpersonappointedbyPartyA),shallpromptlycompileawholesetofdocuments(the“TransferDocuments”)tobesubmittedtothegovernmentbodiesforapprovingthesharesorassetstransferinconnectionwiththeOptionexercisesothatthesharesorassetstransfercanbetransferred,inwholeorinpart.
UponthecopmletionofthecompilationofalltheTransferDocumentsandtheTransferDocumentsbeingconfirmedbyPartyA,PartyBandPartyCshallpromptlyandunconditionallyobtain,togetherwithPartyA(orthequalifiedpersonappointedbyPartyA),allapprovals,permissions,registrations,documentsandothernecessaryapprovalstoeffectuatethetransferofthesharesandremainingassetsofPartyCinconnectionwiththeOptionexercise.
1.3ExerciseCondition:
PartyAmayimmediatelyexercisetheoptionofacquiringtheequityinterestsinorremainingassetsofPartyCwheneverPartyAconsidersitnecessarytoacquirePartyCanditisdoableinaccordancewithPRClawsandregulations.
2.PRICEOFACQUISITION
PartyAandPartyBshallenterintorelevantagreementsregardingthe
priceofacquisitionbaseonthecircumstancesoftheexerciseofoption.
PartyAhasthediscretiontodecidethetimeandarrangementofthe
acquisition,providedthattheacquisitionwillnotviolateanyPRClawsor
regulationsthenineffect.
3.REPRESENTATIONSANDWARRANTIES
3.1Eachpartyheretorepresentstotheotherpartiesthat:
(1)ithasallthe
necessaryrights,powersandanthorizationstoenterintothisAgreementandperformitsdutiesandobligationshereunder;and
(2)theexerciseandperformanceofthisAgreementshallnotviolateanysignificantcontractoragreementtowhichitisapartyorbywhichitoritsassetsarebounded.
3.2PartyBheretorepresentstoPartyAthat:
(1)theyarelegally
registeredshareholdersofPartyCandhavepaidPartyCthefullamountoftheirrespevtiveportionsofPartyC`sregisteredcapitalrequiredunderthePRClaws,
(2)exceptSharePledgeAgreement,PartyBhasnotmortgagedorpledgehissharesofPartyC,norhasgrantedanysecurityinterestorborrowagainsthissharesofPartyCinanyform;and(3)PartyBhasnotsoldorwillnotselltoanythirdpartyitsequityinterestsinPartyC.
3.3PartyCheretorepresentstoPartyAthat:
(1)itisalimitedliability
companydulyregisteredandvalidlyexistingunderthePRClaws;and
(2)itsbusinessoperationsareincompliancewithapplicablelawsofthePRCinallmaterialaspects.
4.COVENANTS
ThePartiesfurtheragreeasfollow:
4.1BeforePartyAhasacquiredalltheequity/assetsofPartyCbyexercisingthepurchaseoptionprovidedhereunder,PartyCshallnot:
4.1.1sell,assign,mortgageorotherwisedisposeof,orcreateanyencumbranceon,anyofitsassets,operationsoranylegalorbeneficiaryinterestswithrespecttoitsrevenues(unlesssuchsale,assignment,mortgate,disposalorencumbranceisrelatingtoitsdailyoperationorhasbeendisclosedtoandagreeduponbyPartyAinwriting);
4.1.2enterintoanytransactionwhichmaymateriallyaffectitsassets,liability,operation,shareholder`sequityorotherlegalrights(unlesssuchtransactionisrelatingtoitsdailyoperationorhasbeendisclosedtoandagreeduponbyPartyAinwriting);and
4.1.3distributeanydividendtoitsshareholdersinanymanner.
4.2BeforePartyAhasacquiredalltheequity/assetsofPartyCbyexercisingthepurchaseoptionprovidedhereunder.PartyBand/orPartyCshallnotindividuallyorcollectively:
4.2.1supplement,alteroramendthearticlesofassociationofPartyCin
anymannertotheextentthatsuchsupplement,alterationoramendmentmayhaveamaterialeffectonPartyC’sassets,liability,operation,shareholder`sequityorotherlegalrights;
4.2.2causePartyCtoenterintoanytransactiontotheextentsuch
transactionmayhaveamaterialeffectonPartyC’sassets,liability,operation,shareholder`sequityorotherlegalrights((unlesssuchtransactionisrelatingtoPartyC’sdailyoperationorhasbeendisclosedtoandagreeduponbyPartyAinwriting);and
4.3PartyBshallentrustPartyAtomanagePartyCinaccordancewith
EntrustedManagementAgreement.
5.ASSIGNMENTOFAGREEMENT
5.1PartyBandPartyCshallnottransfertheirrightsandobligationsunderthisAgreementtoanythirdpartywithoutthepriorwrittenconsentofPartyA.
5.2EachofPartyBandPartyCherebyagreesthatPartyAshallhavetherighttotransferallofitsrightsandobligationsunderthisAgreementtoanythirdpartywheneveritdesires.AnysuchtransfershallonlybesubjecttoawrittennoticesenttoPartyBandPartyCbyPartyA,andnoanyfurtherconsentfromPartyBandPartyCwillberequired.
6.CONFIDENTIALITY
ThePartiesacknowledgeandconfirmthatanyoralorwrittenmaterials
exchangedbythePartiesinconnectionwiththisAgreementare
confidential.ThePartiesshallmaintainthesecrecyandconfidentialityof
allsuchmaterials.WithoutthewrittenapprovalbytheotherParties,any
Partyshallnotdisclosetoanythirdpartyanyreleventmaterials,butthe
followingcircumstancesshallbeexcluded:
a.Thematerialsisknowbythepublic(exceptforanymaterials
disclosedtothepublicbythePartywhoreceivessuchmaterials)orthematerialsisalreadyknowbythedisclosingPartyoracquiredbythedisclosingPartyfromathirdpartylawfullyinpossessionthereofwithnoobligationofconfidentiality.
b.Thematerialsarerequiredtobedisclosedundertheapplicablelawsor
therulesorprovisionsofstockexchange;or
c.ThematerialsdisclosedbyeachPartytoitslegalorfinancial
consultantrelatetothetransactioncontemplatedunderthisAgreemen,andsuchlegalorfinancialconsultantshallcomplywiththeconfidentialitysetforthinthisSection.ThedisclosureofconfidentialmaterialsbyanemployeeofanyPartyshallbedeemeddisclosureofsuchmaterialsbysuchParty,andsuchPartyshallbeliableforbreachingthecontract.ThisArticle6shallsurvivethisAgreementevenifthisAgreementisinvalid,amended,revoked,terminatedorunenforceablebyanyreason.
7.BREACHOFCONTRACT
Anyviolationofanyprovisionhereof,anyincompleteormistakenperformanceofanyobligationprovidedhereunder,anymisrepresentationmadehereunder,anymaterialnondisclosureoromissionofanymaterialfact,oranyfailuretoperformanycovenantsprovidedhereunderbyanyPartyshallconstituteabreachofthisAgreement.ThebreachingPartyshallbeliableforanysuchbreachpursuanttotheapplicablelaws.
8.1APPLICABLELAWANDDISPUTERESOLUTION
8.1ApplicableLaw
T
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- 关 键 词:
- Exclusive Option Agreement