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TERRITORY OF THE BRITISH VIRGIN ISLANDS
THE INTERNATIONAL BUSINESS COMPANIES ORDINANCE
MEMORANDUM OF ASSOCIATION
OF
XXX LIMITED
NAME
1. The name of the Company is XXX LIMITED.
REGISTERED OFFICE
2. The Registered Office of the Company will be at ___________, British Virgin Islands.
REGISTERED AGENT
3. The Registered Agent of the Company will be _______________, British Virgin Islands.
GENERAL 0BJECTS AND POWERS
4. (1) The object of the Company is to engage in any act or activity that is not prohibited under any law for the time being in force in the British Virgin Islands.
(2) The Company may not:
(a) carry on business with persons resident in the British Virgin Islands;
(b) own an interest in real property situated in the British Virgin Islands, other than a lease referred to in paragraph (e) of subclause (3);
(c) carry on banking or trust business unless it is licensed to do so under the Banks and Trust Companies Ordinance, 1990;
(d) carry on business as an insurance or reinsurance company, insurance agent or insurance broker, unless it is licensed under an enactment authorizing it to carry on that business;
(e) carry on the business of providing the registered office for companies; or
(f) carry on the business of company management unless licensed under the Company Management Ordinance, 1990.
(3) For purposes of paragraph (a) of subclause (2), the Company shall not be treated as carrying on business with persons resident in the British Virgin Islands if:
(a) it makes or maintains deposits with a person carrying on business within the British Virgin Islands;
(b) it makes or maintains professional contact with solicitors, barristers, accountants, bookkeepers, trust companies, administration companies, investment advisers or other similar persons carrying on business within the British Virgin Islands;
(c) it prepares or maintains books and records within the British Virgin Islands;
(d) it holds, within the British Virgin Islands, meetings of its directors or members;
(e) it holds a lease of property for use as an office from which to communicate with members or where books and records of the Company are prepared or maintained;
(f) it holds shares, debt obligations or other securities in a company incorporated under the International Business Companies Ordinance or under the Companies Ordinance; or
(g) shares, debt obligations or other securities in the Company are owned by any person resident in the British Virgin Islands or by any company incorporated under the International Business Companies Ordinance or under the Companies Ordinance.
(4) The Company shall have all such powers as are permitted by law for the time being in force in the British Virgin Islands, irrespective of corporate benefit, to perform all acts and engage in all activities necessary or conducive to the conduct, promotion or attainment of the object of the Company.
(5) The Company shall have all powers to settle its assets or property or any part thereof in trust or transfer the same to any other Company whether for the protection of its assets or not and with respect to the transfer the Director may provide that the Company, its creditors, its members or any person having a direct or indirect interest in the Company as any of them may be the beneficiaries, creditors, members, certificate holders, partners or holders of any other similar interest.
(6) The directors may by resolution of the directors exercise all the powers of the Company to borrow money and to mortgage or charge its undertakings and property or any part thereof, to issue debentures, debenture stock and other securities whenever money is borrowed or as security for any debt, liability or obligation of the Company or of any third party.
(7) Any mortgage or charge of the undertaking and property of the Company shall for the purposes of Section 80 of the Ordinance be regarded as in the usual or regular course of the business carried on by the Company.
(8) The Company shall exist for an indefinite term or until removed from the Register.
CURRENCY
5. Shares in the Company shall be issued in the currency of the United States of America.
AUTHORIZED CAPITAL
6. The authorized capital of the Company is US$500,000.
CLASSES, NUMBER AND PAR VALUE OF SHARES
7. The authorized share capital of the Company is made up of a total of 50,000,000 shares of US$0.01 par value with one vote for each share, divided into the following four (4) classes of shares:
28,000,000 Common Shares;
22,000,000 Series-A Convertible Preferred Shares;
DESIGNATIONS, POWERS, PREFERENCES, ETC. OF SHARES
8. The establishment, designations, powers, preferences, rights, qualifications, limitations and restrictions of each class and series of shares that the Company is authorized to issue shall be fixed by resolution of directors.
VARIATION OF CLASS RIGHTS
9. If at any time the authorized capital is divided into different classes or series of shares, the rights attached to any class or series (unless otherwise provided by the terms of issue of the shares of that class or series) may, whether or not the Company is being wound up, be varied with the consent in writing of the holders of not less than three-fourths of the issued shares of that class or series and of the holders of not less than three-fourths of the issued shares of any other class or series of shares which may be affected by such variation.
RIGHTS NOT VARIED BY THE ISSUE OF SHARES PARI PASSU
10. The rights conferred upon the holders of the shares of any class issued with preferred or other rights shall not, unless otherwise expressly provided by the terms of issue of the shares of that class, be deemed to be varied by the creation or issue of further shares ranking pari passu therewith.
SHARES
11. The number of shares in the Company into which the share capital is divided may be issued only as registered shares and may not be issued as or exchanged for shares issued to bearer.
TRANSFER OF SHARES
12. Shares in the Company may be transferred subject to the prior or subsequent approval of the Company as evidenced by a resolution of directors or by a resolution of members.
AMENDMENT OF MEMORANDUM AND ARTICLES OF ASSOCIATION
13. The Company may amend its Memorandum of Association and Articles of Association by a resolution of members.
DEFINITIONS
14. The meanings of words in this Memorandum of Association are as defined in the Articles of Association annexed hereto.
We, ______________ of ________________, British Virgin Islands for the purpose of incorporating an International Business Company under the laws of the British Virgin Islands hereby subscribe our name to this Memorandum of Association the ___ day of ____, 2000 in the presence of:
Witness Subscriber
_______________________ _______________________
ANNEX
ARTICLES OF ASSOCIATION
OF
XXX LIMITED
ARTICLE I
PRELIMINARY
1.1 Definitions…
1.2 "Written" or any term of like import includes words typewritten, printed, painted, engraved, lithographed, photographed or represented or reproduced by any mode of reproducing words in a visible form, including telex, facsimile, telegram, cable or other form of writing produced by electronic communication.
1.3 Save as aforesaid any words or expressions defined in the Ordinance shall bear the same meaning in these Articles.
1.4 Whenever the singular or plural number, or the masculine, feminine or neuter gender is used in these Articles, it shall equally, where the context admits, include the others.
1.5 A reference in these Articles to voting in relation to shares shall be construed as a reference to voting by members holding the shares except that it is the votes allocated to the shares that shall be counted and not the number of members who actually voted.
1.6 A reference to money in these Articles is a reference to the currency of the United States of America, unless otherwise stated.
ARTICLE II
REGISTERED SHARES
2.1 Every member holding registered shares in the Company shall be entitled to a certificate signed by a director or officer of the Company and under the Seal specifying the share or shares held by him, and the signature of the director or officer and the Seal may be facsimiles.
2.2 Any member receiving a share certificate for registered shares shall indemnify and hold the Company and its directors and officers harmless from any loss or liability which it or they may incur by reason of any wrongful or fraudulent use or representation made by any person by virtue of the possession thereof. If a share certificate for registered shares is worn out or lost it may be renewed on production of the worn out certificate or on satisfactory proof of its loss together with such indemnity as may be required by a resolution of directors.
[中文翻譯]
英屬維爾京群島地區
國際商業公司條例
XXX 股份有限公司
組織大綱
名稱
1、 公司名稱為XXX股份有限公司。
注冊辦公地點
2、 公司的注冊辦公地點為英屬維爾京群島 ___________。
注冊代理
3、 公司的注冊代理為英屬維爾京群島_______________。
總體目的和權力
4、 (1) 公司的目的是從事英屬維爾京群島地區現行有效法律不禁止的任何行為或活動。
(2) 公司不得從事以下活動：
1) 同英屬維爾京群島居民進行業務往來；
2) 擁有英屬維爾京群島上任何物產利益，本組織大綱第4（3）(e)段提到的租賃物產除外；
3) 進行銀行或信托業務，除非是根據《1990年銀行與信托公司條例》規定進行的許可銀行或信托業務；
4) 以保險或再保險公司、保險代理或保險經紀人的身份進行保險類業務，除非根據立法授權許可其進行該類業務；
5) 進行向其他公司提供注冊辦公地點之類的業務；或
6) 進行公司管理業務，除非為《1990年公司管理條例》授權許可。
(3) 就本組織大綱第4（2）（a）段之目的而言，在下列情況下，公司不應視為同英屬維爾京群島居民進行業務往來：
1) 同在英屬維爾京群島進行業務的人有存款關系；
2) 同律師、會計師、圖書管理員、信托公司、管理公司、投資顧問或在英屬維爾京群島進行業務的其它類似人員進行或保持專業聯系；
3) 在英屬維爾京群島編制或保留帳簿和記錄；
4) 在英屬維爾京群島召開董事會或成員會議；
5) 持有辦公用租賃財產，通過租用的辦公室來同成員進行通信，或編制或維護公司的帳簿和記錄；
6) 持有根據《國際商業公司條例》或《公司條例》注冊成立的公司股票、債務或其他證券；或
7) 公司的股票、債務或其他證券被英屬維爾京群島的居民或根據《國際商業公司條例》或《公司條例》注冊成立的任何公司擁有。
(4) 無論是否是為了公司的利益，公司應具有英屬維爾京群島現行有效法律許可的權力，以履行或從事促進或達到公司目標所需或有益的所有行為和活動。
(5) 公司應該有權處理其資產、財產或其信托的任何部分，或將該財產或資產轉讓給其他任何公司，無論是否是為了保護公司的資產；在公司利益轉讓方面，公司董事可以規定：公司、公司債權人、成員或任何對公司持有直接或間接利益的任何人，可以是任何其他類似利益的受益人、債權人、成員、證書持有人、合伙或持有人。
(6) 公司董事可以以董事會決議的形式，行使公司的所有權力，以籌集資金，抵押其業務和財產或其任何部分或進行按揭，或發行公司債務、債券和其他證券，以進行借款或作為公司、任何第三方債務、負債或責任的保證。
(7) 公司業務和財產的任何抵押或按揭應被看作是《公司條例》第80節項下由公司在正常業務過程中進行的行為。
(8) 公司的存在無限期，直至從公司注冊登記簿中注銷為止。
貨幣
5、 公司發行股票以美元貨幣表示。
授權資本
6、 公司授權資本為500,000美元。
股票的等級、數量與面值
7、 公司授權股票資本的構成是50,000,000股股票，面值為每股0.01美元，每一股都有一份投票權，分為以下兩個等級：
28,000,000股普通股；和
22,000,000股A系列可轉換優先股。
股票的設計、權力、優先權等
8、 公司授權可發行的每一級、每一系列股票的建立、設計、權力、優先權、權利、資格、時限和限制都應由董事會決議來確定。
股票等級權利的變動
9、 如果授權資本在任何時候被分為不同等級或系列的股票，則無論公司是否正在結業，對與任何級別或系列股票相聯系的權利（除非該級別或系列股票的發行條款另外有相反規定）進行的變動，需經該級別或系列股票不少于四分之三已發行股票持有人書面同意和任何受有關變動影響的任何其它級別或系列股票不少于已發行股票四分之三的股東書面同意。
不受股票按比例發行影響的權利
10、 授予已發行優先權或其它權利的任何級別股票持有人的權利，除非該級別股票發行條款中明確有相反規定，不得因股票進一步按比例發行或生成而受影響。
股票
11、 公司股權資本中的股份數量，只能發行為注冊股票，不得發行為或交換為無記名股票。
股票轉讓
12、 通過董事會決議或股東決議，事前或事后獲得公司批準后，可以轉讓公司的股票。
《公司組織大綱》和《公司章程》的修改
13、 公司可以通過股東決議來修改《公司組織大綱》和《公司章程》。
定義
14、 本《公司組織大綱》中術語的含義同其附件《公司章程》中的定義相同。
我們是位于英屬維爾京群島的 ______________，為根據英屬維爾京群島法律注冊成立的一家國際商業公司，特此于2002年___月 ____日在本《公司組織大綱》上簽名，簽字人和證人如下：
認購見證人 認購人
_______________________ _______________________
附件：
XXX股份有限公司
公司章程
第一條
序言
1.1 定義。
1.2 “書面”或含類似意義的任何術語，包括以復制有形文字方式出現的打字、打印、繪制、雕刻、圖形、影印、陳述或復制文字，如電傳、傳真、電報或通過電子通信進行的其它書面形式。
1.3 除了前面的規定之外，《公司條例》中定義的任何術語或表達同《公司章程》中的含義相同。
1.4 無論本《公司章程》中使用的詞是單數、復數，陰性、陽性還是中性，根據上下文，彼此都應該互相包含。
1.5 本《公司章程》中提到的股票投票權應解釋為股票持有人的投票權， 但是投票權是指被分配到應該計算的股票上的投票權，而不是指實際參加投票的成員數。
1.6 除非另外有相反規定，本《公司章程》中提到貨幣，指美國通用的貨幣。
第二條
記名股票
2.1 持有公司記名股票的每一個成員應有資格獲得公司董事或官員簽字的股票證書，蓋有確定其持有股票的印章，公司董事或官員的簽字和印章可以用傳真進行。
2.2 任何獲得記名股票證書的成員，對因擁有該證書、任何人錯誤、欺詐使用或陳述造成的損失或負債，應向公司、公司董事和官員進行補償，使其不受損害。如果記名股票證書磨損或丟失，在提交磨損的證書或以滿意的方式證明其丟失后，經支付董事決議可能會要求的補償后，可以重新更新該證書。
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