股票權證協議書 （第1部分 中英文） CERTIFICATE OF DESIGNATIONS, PREFERENCES AND RIGHTS OF THESERIES C CONVERTIBLE PREFERRED STOCK The Articles of Incorporation of Jpak Group, Inc, a Nevada corporation (the Company), provide that the Company股票權證協議書 （第1部分 中英文）
CERTIFICATE OF DESIGNATIONS, PREFERENCES AND RIGHTS OF
THESERIES C CONVERTIBLE PREFERRED STOCK
The Articles of Incorporation of Jpak Group, Inc, a Nevada corporation (the “Company”), provide that the Company is authorized to issue ______ shares of preferred stock with a par value of $.0001. The Articles of Incorporation provide, further, that the Board of Directors is authorized, to the extent permitted by law, to provide for the issuance of the shares of preferred stock in series, and by filing a certificate pursuant to the Nevada Revised Statutes, to establish from time to time the number of shares to be included in each series and to fix the designation, powers, preferences and rights and the qualifications, limitations or restrictions thereof. Pursuant to the authority conferred upon the Board of Directors by the Articles of Incorporation, the Board of Directors, by Unanimous Written Consent dated November 3, 2009, adopted a resolution providing for the designation, rights, powers and preferences and the qualifications, limitations and restrictions of no less than 8,000,000 and no more than 22,000,000 shares of Series C Convertible Preferred Stock, and that a copy of such resolution is as follows:
Jpak集團公司（內華達州注冊公司，“公司”）的章程規定，公司被授權發行____股優先股，票面價值每股美元0.001。章程進一步規定董事會被授權在法律允許的范圍內規定以系列的形式發行優先股股份，并通過根據內華達州法典申報證書來確定每個系列時時包含的股份數及確定其分配、權力、優先權和權利以及條件和局限或限制。根據章程授予董事會的授權，董事會于2009年11月3日以一致書面同意通過決議，規定不少于8,000,000不多于22,000,000股的C系列可轉優先股的分配、權力、優先權和權利以及條件、局限和限制，該決議的副本如下：
RESOLVED, that pursuant to the authority vested in the Board of Directors of the Company, the provisions of the Company’s Articles of Incorporation, and in accordance with the Nevada Revised Statutes, the Board of Directors hereby authorizes the filing of a Certificate of Designations, Preferences and Rights of Series C Convertible Preferred Stock of the Company. Accordingly, the Company is authorized to issue Series C Convertible Preferred Stock with par value of $.0001 per share, which shall have the powers, preferences and rights and the qualifications, limitations and restrictions thereof, as follows:
通過決議，根據公司董事會被授予的權利，公司章程的規定以及內華達州法典，董事會特此批準申報公司C系列可轉優先股的分配、優先權和權利證書。據此，公司被授權發行C系列可轉優先股，票面價值每股美元0.0001，其權力、優先權和權利以及條件、局限和限制如下：
1. Designation and Rank. 分配和等級。
The designation of such series of the Preferred Stock shall be the Series C Convertible Preferred Stock, par value $0.0001 per share (the "Series C Preferred Stock"). The maximum number of shares of Series C Preferred Stock shall be Twenty-two Million (22,000,000) shares. The Series C Preferred Stock shall rank senior to the Company’s common stock, par value $0.001 per share (the "Common Stock"), and to all other classes and series of equity securities of the Company which by their terms do not rank senior to the Series C Preferred Stock ("Junior Stock"). The Series C Preferred Stock shall be subordinate to and rank junior to all indebtedness of the Company now or hereafter outstanding. For purposes of this Certificate of Designation, the term “Original Series C Issue Price” shall mean an amount equal to $0.60 per share.
本系列優先股的分配應為C系列可轉優先股，票面價值每股美元0.0001（“C系列優先股”）。C系列優先股的股份數不超過二千萬（22,000,000）。C系列優先股的等級高于票面價值每股美元0.001的公司普通股（“普通股”），且高于所有根據其自身條款等級不高于C系列優先股的其他類別和系列的權益性證券（“低等級股票”）。C系列優先股的等級低于公司現在或以后發行的所有債務。在本股權證書中，“C系列最初發行價”指每股美元0.60。
2. Voting Rights. 表決權
(a) Class Voting Rights. The Series C Preferred Stock shall have the following class voting rights (in addition to the voting rights set forth in Section 2(b) hereof). So long as any shares of the Series C Preferred Stock remain outstanding, the Company shall not, without the affirmative vote or written consent of the holders of a majority of the shares of the Series C Preferred Stock outstanding at the time (the “Majority Holders”), given in person or by proxy, either in writing or at a meeting in which the holders of the Series C Preferred Stock vote separately as a class:
類別表決權。C系列優先股應有以下類別表決權（除了第二節(b)規定的表決權之外）。只要存在任何已發行的C系列優先股股份，如未獲得半數以上當時已發行的C系列優先股持有人（“多數持有人”）親自或通過代理人以書面形式或在C系列優先股持有人作為一個類別單獨表決的會議上的贊成票或書面同意，公司不應：
(i) authorize, create, issue or increase the authorized or issued amount of any class or series of Preferred Stock, which class or series, in any such case, ranks pari passu or senior to the Series C Preferred Stock, with respect to the distribution of assets on liquidation, dissolution or winding up;
授權、創設、發行或增加被授權或發行的任何類別或系列的優先股，在任何該等情況下該類別或系列的優先股在清算、解散或清盤分配資產時的等級等于或高于C系列優先股；
(ii) amend, alter or repeal the provisions of the Series C Preferred Stock, whether by merger, consolidation or otherwise, so as to ‘adversely affect any right, preference, privilege or voting power of the Series C Preferred Stock; provided, however, that any creation and issuance of another series of Junior Stock shall not be deemed to adversely affect such rights, preferences, privileges or voting powers;
修改、變更或廢除C系列優先股的任何規定，不論因合并、兼并或其他情況，以致對C系列優先股的任何權利、優先權、特權或表決權造成不利影響；但是，任何創設或發行其他系列低等級股票的行為不應被視為對上述權利、優先權、特權或表決權造成不利影響；
(iii) issue any shares of Series C Preferred Stock other than pursuant to the Purchase Agreement (as defined herein) or as a dividend;
發行任何C系列優先股股份，但根據證券購買協議或作為股息而發行除外；
(iv) repurchase, redeem or pay dividends on, shares of Common Stock or any other shares of the Company's Junior Stock (other than de ‘minimus repurchases from employees of the Company in certain circumstances or repurchases pursuant to a plan approved by the Board);
回購、贖回普通股或公司的任何其他低等級股票的股份或為該等股份分配股息（在特定情形下從公司員工處少量回購或根據董事會批準的計劃回購除外）；
(iv) amend the Articles of Incorporation or By-Laws of the Company so as to affect materially and adversely any right, preference, privilege or voting power of the Series C Preferred Stock; provided, however, that any creation and issuance of another series of Junior Stock shall not be deemed to adversely affect such rights, preferences, privileges or voting powers;
修改公司登記注冊證書或公司章程以致對C系列優先股的任何權利、優先權、特權或表決權造成重大不利影響；但是創設或發行其他系列低等級股票的行為不應視為對上述權利、優先權、特權或表決權造成不利影響；
(v) effect any distribution with respect to Junior Stock other than as permitted hereby;
為低等級股票分派紅利，但本文規定允許的除外；
(vi) reclassify the Company's outstanding securities;
重新分類公司已發行的證券；
(vii) voluntarily file for bankruptcy, liquidate the Company’s assets or make an assignment for the benefit of the Company’s creditors; or
自愿申報破產、清算公司資產或轉讓公司債權人的利益；或
(viii) materially change the nature of the Company’s business.
重大改變公司的業務種類。
Notwithstanding the foregoing, no change pursuant to Section 8 herein shall be effective to the extent that, by its terms, it applies to less than all of the Holders of shares of Series C Preferred Stock then outstanding
盡管有上述規定，如果根據第8節的規定做出的改變根據其自身條款不適用于當時已發行的C系列優先股股份的全部持有人，則不應生效。
(b) General Voting Rights. Except with respect to transactions upon which the Series C Preferred Stock shall be entitled to vote separately as a class pursuant to Section 2(a) above and as otherwise required by Nevada law, the Series C Preferred Stock shall have no voting rights with the Common Stock or other equity securities of the Company. The Common Stock into which the Series C Preferred Stock is convertible shall, when issued, have all of the same voting rights as other issued and outstanding Common Stock of the Company, and none of the rights of the Series C Preferred Stock.
一般表決權。除了根據第2節(a)的規定或內達華州法律的要求C系列優先股應作為一個類別單獨表決的交易外，C系列優先股對普通股或公司的其他權益性證券無表決權。C系列優先股可轉換的普通股應在發行時具有與公司其他已發行的普通股相同的表決權，但不具有C系列優先股的任何權利。
3.Liquidation Preference. 清算優先權
(a) In the event of the liquidation, dissolution or winding up of the affairs of the Company, whether voluntary or involuntary, the holders of shares of Series C Preferred Stock then outstanding shall be entitled to receive, out of the assets of the Company available for distribution to its stockholders, an amount equal to $0.60 per share of the Series C Preferred Stock (the “Series C Liquidation Preference Amount”) before any payment shall be made or any assets distributed to the holders of the Common Stock or any other Junior Stock. If the assets of the Company are not sufficient to pay in full the Series C Liquidation Preference Amount payable to the holders of outstanding shares of the Series C Preferred Stock and any series of Preferred Stock or any other class of stock ranking pari passu, as to rights on liquidation, dissolution or winding up, with the Series C Preferred Stock, then all of said assets will be distributed among the holders of the Series C Preferred Stock and the other classes of stock ranking pari passu with the Series C Preferred Stock, if any, ratably in accordance with the respective amounts that would be payable on such shares if all amounts payable thereon were paid in full.
若發生公司清算、解散或清盤(無論自愿或非自愿)，已發行的C系列優先股持有人應有權在向普通股持有人或任何其它低等級股票持有人分配之前，從公司應分配給其持有人的資產中，就每一股C系列優先股獲得數額等于美元0.60的金額(“C系列清算優先數額”)。如果公司的資產不足以向所有已發行的C系列優先股持有人和任何在清算、解散或清盤中的權利與C系列優先股同等級的優先股票或其他類別股票的持有人支付C系列清算優先數額，則公司應按照各C系列優先股持有人和任何與C系列優先股同等級的其他種類股票（如有）持有人所持有的股份數按比例分配公司資產。
The liquidation payment with respect to each outstanding fractional share of Series C Preferred Stock shall be equal to a ratably proportionate amount of the liquidation payment with respect to each outstanding share of Series C Preferred Stock. All payments for which this Section 3(a) provides shall be in cash, property (valued at its fair market value as determined by an independent appraiser chosen by the Company and reasonably acceptable to the holders of a majority of the Series C Preferred Stock) or a combination thereof; provided, however, that no cash shall be paid to holders of Junior Stock unless each holder of the outstanding shares of Series C Preferred Stock has been paid in cash the full Series C Liquidation Preference Amount to which such holder is entitled as provided herein.
C系列優先股的零散股份的清算支付等于其向對于每一股C系列優先股的清算支付的相應比例的數額。本第3節(a)規定的所有支付可以為現金、財產（以公司選擇的且多數C系列優先股的持有人可合理接受的獨立評估師確定的公平市場價值進行估價）或二者結合的方式；但是，除非各已發行的C系列優先股持有人應得的C系列清算優先數額已以現金全額支付，否則不可以向低等級股票持有人支付現金。
(b) A consolidation or merger of the Company with or into any other corporation or corporations, or a sale of all or substantially all of the assets of the Company, or the effectuation by the Company of a transaction or series of related transactions in which more than 50% of the voting shares of the Company is disposed of or conveyed, shall not be deemed to be a liquidation, dissolution, or winding up within the meaning of this Section 3.
公司兼并或合并成其他公司，或全部出售或實質全部出售公司資產，或公司通過任何交易或一系列交易后公司表決權股份中50%以上被處置或轉讓，不應被視為本第3節規定的清算、解散或清盤。
(c) The Company shall provide written notice of any redemption, voluntary or involuntary liquidation, dissolution or winding up of the affairs of the Company, stating a payment date and the place where the distributable amounts shall be payable, by mail, postage prepaid, no less than forty-five (45) calendar days prior to the payment date stated therein, to the holders of record of the Series C Preferred Stock at their respective addresses as the same shall appear on the books of the Company, which notice shall also state the amount per share of Series C Preferred Stock that will be paid or distributed on such liquidation, dissolution or winding up, as the case may be, if such amount differs from the Series C Liquidation Preference Amount.
公司應發出關于任何贖回、自愿或非自愿的清算、解散或清盤事件的書面通知，說明支付日期和場所，該等通知應在支付日期前至少四十五（45）個自然日通過信件、郵資預付郵件發送至公司過戶登記載明的各C系列優先股的登記持有人的地址；該通知應同時說明每一股C系列優先股在該等清算、解散或清盤中應被支付或分配的金額，如果該金額與C系列清算優先數額不同。
4. Conversion. 轉換
The holder of Series C Preferred Stock shall have the following conversion rights (the “Conversion Rights”):
C系列優先股持有人有下列轉換權利（“轉換權利”）：
(a) Right to Convert. At any time on or after the date of the initial issuance of the Series C Preferred Stock (the “Issuance Date”), the holder of any such shares of Series C Preferred Stock may, at such holder's option, subject to the limitations set forth in Section 6 herein, elect to convert (a “Voluntary Conversion”) all or any portion of the shares of Series C Preferred Stock held by such person into a number of fully paid and nonassessable shares of Common Stock equal to the quotient of (i) the Series C Liquidation Preference Amount of the shares of Series C Preferred Stock divided by (ii) the Conversion Price (as defined in Section 4(c) below) in effect as of the date of the delivery by such holder of its Conversion Notice (as hereinafter defined). In the event of a notice of redemption of any shares of Series C Preferred Stock pursuant to Section 7 hereof, the Conversion Rights of the shares designated for redemption shall terminate at the close of business on the last full day preceding the date fixed for redemption, unless the redemption price is not paid on such redemption date, in which case the Conversion Rights for such shares shall continue until such price is paid in full. In the event of a liquidation, dissolution or winding up of the Company, the Conversion Rights shall terminate at the close of business on the last full day preceding the date fixed for the payment of any such amounts distributable on such event to the holders of Series C Preferred Stock.
轉換權。C系列優先股原始發行日（“發行日”）當天或之后的任何時間，任何C系列優先股持有人在第6節的限制條件下可自行決定將其全部或任何部分C系列優先股轉換為充分支付的非增繳普通股（“自愿轉換”），其數額等于(i)C系列優先股的C系列清算優先數額除以(ii)該持有人交付的轉換通知所載的（見下文的相關規定）于交付之日有效的轉換價（見第4節(c)的有關規定）。若出現第7節規定的C系列優先股任何股份的回購通知，則被指定回購的股份的轉換權利將在定于回購的前一日營業即將結束之時終止，除非在回購日期之前回購款未充分支付，此時該等股份的轉換權利直到回購款充分支付時繼續存在。若公司發生清算、解散或清盤，轉換權利應在定于向C系列優先股持有人分配之日的前一日營業即將結束之日終止。
(b) Mechanics of Voluntary Conversion. The Voluntary Conversion of Series C Preferred Stock shall be conducted in the following manner:
自愿轉換機制。C系列優先股的自愿轉換應以下列形式作出：
(i) Holder's Delivery Requirements. To convert Series C Preferred Stock into full shares of Common Stock on any date (the “Voluntary Conversion Date”), the holder thereof shall (A) transmit by facsimile (or otherwise deliver), for receipt on or prior to 5:00 p.m., New York time on such date, a copy of a fully executed notice of conversion in the form attached hereto as Exhibit I (the “Conversion Notice”), to the Company at 86-532-84630586, and (B) surrender to a common carrier for delivery to the Company’s designated transfer agent (the “Transfer Agent”) as soon as practicable following such Voluntary Conversion Date the original certificates representing the shares of Series C Preferred Stock being converted (or an indemnification undertaking with respect to such shares in the case of their loss, theft or destruction) (the “Preferred Stock Certificates”) and the originally executed Conversion Notice.
持有人的交付請求。為將C系列優先股于任何日期（“自愿轉換日”）轉換為普通股股份，持有人應(A)通過傳真（或其他交付方式）發送充分簽署的如附件I（“轉換通知”）的轉換通知副本至公司（傳真號碼： ），于紐約時間當日下午5點或之前到達，和(B)在自愿轉換日后盡快向公司指定的過戶代理人（“過戶代理人”）出示代表被轉換的C系列優先股股份的原始證書（或就該等股份丟失、被盜或損毀后的賠償）（“優先股證書”）和轉換通知原件。
(ii) Company's Response. Upon receipt by the Company of a facsimile copy of a Conversion Notice, the Company shall immediately send, via facsimile, a confirmation of receipt of such Conversion Notice to such holder. Upon receipt by the Company of a copy of the fully executed Conversion Notice and by the Transfer Agent of the Preferred Stock Certificates, the Company shall, within three (3) trading days following the later of the (x) date of receipt by the Company of the fully executed Conversion Notice, and (y) date of receipt of the Preferred Stock Certificates by the Transfer Agent, issue and deliver to the Depository Trust Company (“DTC”) account on the holder’s behalf via the Deposit Withdrawal Agent Commission System (“DWAC”) as specified in the Conversion Notice, certificates registered in the name of the holder or its designee, representing the number of shares of Common Stock to which the holder shall be entitled. Notwithstanding the foregoing to the contrary, the Company or its Transfer Agent shall only be obligated to issue and deliver the shares to the DTC on a holder’s behalf via DWAC if a registration statement providing for the resale of the shares of Common Stock issuable upon conversion of the Series C Preferred Stock is effective. If the number of shares of Preferred Stock represented by the Preferred Stock Certificate(s) submitted for conversion is greater than the number of shares of Series C Preferred Stock being converted, then the Company shall instruct the Transfer Agent, as soon as practicable and in no event later than three (3) business days after receipt of the Preferred Stock Certificate(s) and at the Company's expense, issue and deliver to the holder a new Preferred Stock Certificate representing the number of shares of Series C Preferred Stock not converted.
公司的回應。公司在收到轉換通知的傳真件后，應立即通過傳真向持有人發出收到該轉換通知的確認函。在公司收到充分簽署的轉換通知和過戶代理人提供的優先股證書后，公司應在(x)收到充分簽署的轉換通知和(y)收到過戶代理人提供的優先股證書二者中較遲之日后的三（3）個交易日內發行并交付以持有人或其指定人的名義登記的代表持有人所持普通股股數的證書，通過轉換通知規定的存管信托轉戶系統(“DWAC”) 存入代表持有人的存管信托公司(“DTC”)賬號。盡管前文有相反規定，如果規定C系列優先股可轉的普通股股份再售的登記申請有效，公司或其過戶代理人僅有義務通過存管信托轉戶系統向代表持有人的存管信托公司(“DTC”)發行和交付股份。如果為轉換提交的優先股證書代表的優先股股數大于被轉換的C系列優先股股數，則公司應指示過戶代理人盡快且不晚于收到優先股證書后的3個工作日，自行承擔費用向持有人發行和交付代表未轉換的C系列優先股股數的新的優先股證書。
(iii) Dispute Resolution. In the case of a dispute as to the arithmetic calculation of the number of shares of Common Stock to be issued upon conversion, the Company shall cause its Transfer Agent to promptly issue to the holder the number of shares of Common Stock that is not disputed and shall submit the arithmetic calculations to the holder via facsimile as soon as possible, but in no event later than two (2) business days after receipt of such holder's Conversion Notice. If such holder and the Company are unable to agree upon the arithmetic calculation of the number of shares of Common Stock to be issued upon such conversion within one (1) business day of such disputed arithmetic calculation being submitted to the holder, then the Company shall within one (1) business day thereafter submit via facsimile the disputed arithmetic calculation of the number of shares of Common Stock to be issued upon such conversion to the Company’s independent, outside accountant. The Company shall cause the accountant to perform the calculations and notify the Company and the holder of the results no later than seventy-two (72) hours from the time it receives the disputed calculations. Such accountant's calculation shall be binding upon all parties absent manifest error. The reasonable expenses of such accountant in making such determination shall be paid by the Company, in the event the holder's calculation was correct, or by the holder, in the event the Company's calculation was correct, or equally by the Company and the holder in the event that neither the Company's or the holder's calculation was correct. The period of time in which the Company is required to effect conversions or redemptions under this Certificate of Designation shall be tolled with respect to the subject conversion or redemption pending resolution of any dispute by the Company made in good faith and in accordance with this Section 4(b)(iii).
爭議解決。若出現關于轉換可轉的普通股股數的計算的爭議，公司應促使其過戶代理人立即向持有人發行無爭議的普通股股數，并通過傳真盡快向持有人提交計算，任何情況下不得晚于收到持有人的轉換通知后兩個工作日。如果該持有人和公司在爭議的計算提交給持有人后1個工作日內未能就轉換可轉的普通股股數達成一致，則公司應在其后的一個工作日內通過傳真將轉換可轉的普通股股數的計算爭議提交給公司獨立的外部會計師。公司應促使會計師在不晚于其收到爭議計算后的七十二（72）個小時進行計算并通知公司和持有人結果。該會計師的計算如無明顯錯誤對各方均有約束力。如持有人的計算正確，公司應支付相關合理會計費用，如公司的計算正確，則由持有人支付相關會計費用。公司根據本股權證書進行轉換或贖回所需的期間應由公司根據第4節(b)(iii)的規定誠信收取關于轉換或贖回的未決決議的爭議的費用。
(iv) Record Holder. The person or persons entitled to receive the shares of Common Stock issuable upon a conversion of the Series C Preferred Stock shall be treated for all purposes as the record holder or holders of such shares of Common Stock from and after the Conversion Date.
登記持有人。有權獲得C系列優先股可轉換的普通股股份的個人自轉換日或之后出于任何目的應被視為該等普通股股份的登記持有人。
(v) Company's Failure to Timely Convert. If within five (5) business days, with respect to Common Stock being issued upon conversion, and within ten (10)business days in the event a new Preferred Stock Certificate is being issued, after the Company's receipt of an executed copy of the Conversion Notice (so long there are no disputes regarding such calculation) (the “Delivery Date”) the Transfer Agent shall fail to issue and deliver to a holder the number of shares of Common Stock to which such holder is entitled upon such holder's conversion of the Series C Preferred Stock (a “Conversion Failure”), in addition to all other available remedies which such holder may pursue hereunder and under the Securities Purchase Agreement (the “Purchase Agreement”) among the Company and the initial holders of the Series C Preferred Stock (including indemnification pursuant to Article VI thereof), the Company shall pay additional damages to such holder on each business day after such fifth (5th) business day that such conversion is not timely effected in an amount equal to 0.5% of the product of (A) the number of shares of Common Stock not issued to the holder on a timely basis當時 pursuant to Section 4(b)(ii) and to which such holder is entitled and (B) the Closing Bid Price (as defined in Section 4(b)(vii) below) of the Common Stock on the last possible date which the Company could have issued such Common Stock, as the case may be, to such holder without violating Section 4(b)(ii). If the Company fails to pay the additional damages set forth in this Section 4(b)(v) within ten (10) business days of the date incurred, then such payment shall bear interest at the rate of 2.0% per month (pro rated for partial months) until such payments are made.
公司未按時轉換。在公司收到簽署的轉換通知（只要不存在計算爭議）后的五（5）個工作日內，如果需要發行新的優先股證書則為十（10）個工作日內，關于因轉換而發行普通股，過戶代理人未能向持有人發行和交付其轉換C系列優先股應得的普通股股數（“轉換失敗”），除了本文和由公司與C系列優先股的最初持有人簽署的證券購買協議（“購買協議”）規定的持有人可獲得的任何其他救濟（包括購買協議第六條規定的賠償）外，公司應向持有人支付額外賠償，轉換未能按時發生的第五（5）個工作日后的每個工作日支付的賠償金額為下列數額乘積的0.5%：(A)未按照第4節(b)(ii)的規定按時向持有人發行的普通股股數和(B)如公司未違反第4節(b)(ii)的規定本可向持有人發行該等普通股的最后一日的普通股的收盤價（見下文第4節(b)(vii)的規定）。如果公司沒有在十（10）個工作內日支付該等額外賠償，則每月（不足一個月則按比例確定）的罰息為2.0%，直至付清為止。
(vi) Buy-In Rights. In addition to any other rights available to the holders of Series C Preferred Stock, if the Company fails to cause its Transfer Agent to transmit to the holder a certificate or certificates representing the shares of Common Stock issuable upon conversion of the Series C Preferred Stock on or before the Delivery Date, and if after such date the holder is required by its broker to purchase (in an open market transaction or otherwise) shares of Common Stock to deliver in satisfaction of a sale by the holder of the shares of Common Stock issuable upon conversion of Series C Preferred Stock which the holder anticipated receiving upon such conversion (a “Buy-In”), then the Company shall (1) pay in cash to the holder the amount by which (x) the holder’s total purchase price (including brokerage commissions, if any) for the shares of Common Stock so purchased exceeds (y) the amount obtained by multiplying (A) the number of shares of Common Stock issuable upon conversion of Series C Preferred Stock that the Company was required to deliver to the holder in connection with the conversion at issue times (B) the price at which the sell order giving rise to such purchase obligation was executed (such amount to be offset by any payment already made to holder under Section 4(b)(v)), and (2) at the option of the holder, either reinstate the shares of Series C Preferred Stock and equivalent number of shares of Common Stock for which such conversion was not honored or deliver to the holder the number of shares of Common Stock that would have been issued had the Company timely complied with its conversion and delivery obligations hereunder.
買進權。除了C系列優先股持有人的其他權利外，如果公司沒有促使其過戶代理人于送達日當天或之前向持有人交付代表其C系列優先股轉換的普通股股份的證書，且如果此日期后持有人被其經紀人要求（在公開市場交易或其他方式）買入普通股的股份以彌補預期的持有人在轉換其C系列優先股后收到的可出售的普通股股份（“買進”），則公司應(1)向持有人支付現金，數額為(x)持有人買入普通股的全部購買款（包括經濟人傭金，如有）超過下列數額的部分 (y)下列數額的乘積(A)公司應向持有人交付的與發行時轉換相關的C系列優先股可轉的普通股股數 (B)引起該買入義務的訂單所載價格（該金額被第4節(b)(v)項下的已做出的支付抵消），及（2）經持有人選擇，或者恢復C系列優先股股份以及該轉換未實現的相同數量的普通股股份，或者向持有人交付如果公司及時履行其轉換和交付義務本應向持有人發行的普通股股數。
For example, if the holder purchases Common Stock having a total purchase price of $11,000 to cover a Buy-In with respect to an attempted conversion of shares of Common Stock with an aggregate sale price giving rise to such purchase obligation of $10,000, under clause (1) of the immediately preceding sentence the Company shall be required to pay to the holder $1,000. The holder shall provide the Company written notice indicating the amounts payable to the holder in respect of the Buy-In, together with applicable confirmations and other evidence reasonably requested by the Company. Nothing herein shall limit a holder’s right to pursue any other remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief with respect to the Company’s failure to timely deliver certificates representing shares of Common Stock upon conversion of the Series C Preferred Stock as required pursuant to the terms hereof.
例如，如果持有人在買進時買入普通股的總價款為美元11,000，而導致該買入義務的失敗轉換的普通股股份的總售價為美元10,000，則根據第（1）款第一項的規定，公司應向持有人支付美元1,000。持有人應向公司發出書面通知，告知其應向持有人支付的買進的金額，以及適用的確認函及公司合理要求的其他證明。本段的任何內容不限制持有人根據下文規定、法律或衡平法，包括但不限于關于公司未及時交付代表C系列優先股可轉的普通股股份的證書的實際履行令或禁令救濟，取得其他賠償的權利。
(vii) The term "Closing Bid Price" shall mean, for any security as of any date, the last closing bid price of such security on the NYSE AMEX or any successor market thereto, Nasdaq Capital Market, the Nasdaq Global Market, the Nasdaq Global Select or any successor market thereto (collectively, “Nasdaq,” and together with AMEX, each a “National Stock Exchange”), OTC Bulletin Board or other principal exchange on which such security is traded as reported by Bloomberg, or, if no closing bid price is reported for such security by Bloomberg, the last 上一次closing trade price of such security as reported by Bloomberg, or, if no last closing trade price is reported for such security by Bloomberg, the average of the bid prices of any market makers for such security as reported in the "pink sheets" by the National Quotation Bureau, Inc. If the Closing Bid Price cannot be calculated for such security on any date on any of the foregoing bases, the Closing Bid Price of such security on such date shall be the fair market value as mutually determined by the Company and the holders of a majority of the outstanding shares of the Series C Preferred Stock.
“收盤價”指，對任何日期的任何證券而言，在紐約證券交易所、美國證券交易所或任何繼承市場，納斯達克資本市場、納斯達克全球市場、納斯達克全球精選市場或任何繼承市場（合稱為“納斯達克”，與美國證券交易所分別稱為“國家股票交易所”），OTC公告板或Bloomberg報告的交易該等證券的其他主要交易所的該等證券的最后收盤價，或如果Bloomberg未報告該等證券的收盤價，則為Bloomberg報告的該等證券的最后收盤價，或如果Bloomberg未報告該等證券的最后收盤價，則為美國國家報價局在“粉紅單市場”報告的做市商對該等證券報價的平均數。如果以上述規定為基礎無法計算任何日期該等證券的收盤價，則該等證券在該等日期的收盤價應為公司和已發行的C系列優先股的多數持有人共同確定的市場公允價值。
(b) Conversion Price.轉換價。
(i) The term “Conversion Price” shall mean $0.50 per share subject to adjustment under Section 4(d) hereof. Notwithstanding any adjustment hereunder, at no time shall the Conversion Price be greater than $0.50 per share except if it is adjusted pursuant to Section 4(d)(i).
“轉換價”指美元0.50每股，該價格根據下文第4節的規定不時調整。盡管根據下文做出任何調整，轉換價不應高于美元0.50，除非根據第4節(d)(i)進行調整。
(ii) Notwithstanding the foregoing to the contrary, if during any period (a “Black-out Period”), a holder of Series C Preferred Stock is unable to trade any Common Stock issued or issuable upon conversion of the Series C Preferred Stock immediately due to the delay or suspension of effectiveness of the Registration Statement or because the Company has otherwise informed such holder of Series C Preferred Stock that an existing prospectus cannot be used at that time in the sale or transfer of such Common Stock (provided that such postponement, delay, suspension or fact that the prospectus cannot be used is not due to factors solely within the control of the holder of Series C Preferred Stock or due to the Company exercising its rights under Section 3(n) of the Registration Rights Agreement (as defined in the Purchase Agreement), such holder of Series C Preferred Stock shall have the option but not the obligation on any Conversion Date within ten (10) trading days following the expiration of the Black-out Period of using the Conversion Price applicable on such Conversion Date or any Conversion Price selected by such holder of Series C Preferred Stock that would have been applicable had such Conversion Date been at any earlier time during the Black-out Period or within the ten (10) trading days thereafter.
盡管上文有相反規定，如果在任何時期內（“中斷期”），C系列優先股的持有人不能交易C系列優先股轉換的任何普通股，系由于登記申請的延遲或尚未生效或因為公司通知該C系列優先股持有人在出售或轉讓該等普通股時現有的招股說明書不可用（以該等推遲、延遲或招股說明書不可用的事實并非僅由于C系列優先股持有人可以控制的因素，或并非由于公司行使其注冊登記權協議（見購買協議的相關規定）第3節(n)規定的權利為前提），則該C系列優先股持有人有權但無義務在中斷期結束后的十（10）個交易日內選擇轉換日并使用該轉換日適用的轉換價，或持有人可以選擇中斷期期間或其后的十（10）個交易日內的任何日期作為轉換日本應適用的任何轉換價作為轉換價。
(c) Adjustments of Conversion Price.轉換價的調整。
(i) Adjustments for Stock Splits and Combinations. If the Company shall, at any time or from time to time after the Issuance Date, effect a split of the outstanding Common Stock, the Conversion Price shall be proportionately decreased. If the Company shall, at any time or from time to time after the Issuance Date, combine the outstanding shares of Common Stock, the Conversion Price shall be proportionately increased. Any adjustments under this Section 4(d)(i) shall be effective at the close of business on the date the stock split or combination becomes effective.
針對分股和并股的調整。如果公司在發行日后的任何時間或不時應發生已發行普通股的分拆，則轉換價應同比例降低。如果公司在發行日后的任何時間或不時應發生已發行普通股的合并，則轉換價應同比例提高。任何本第4節(d)(i)的調整應于分股或合股生效當日營業即將結束之時生效。
(ii) Adjustments for Certain Dividends and Distributions. If the Company shall, at any time or from time to time after the Issuance Date, make or issue or set a record date for the determination of holders of Common Stock entitled to receive a dividend or other distribution payable in shares of Common Stock, then, and in each event, the Conversion Price shall be decreased as of the time of such issuance or, in the event such record date shall have been fixed, as of the close of business on such record date, by multiplying the Conversion Price then in effect by a fraction:
針對特定股息和紅利的調整。如果公司在發行日后的任何時間或不時應決定或設定一個登記日期以確定有權收到以普通股股份派發股息或其他紅利的普通股持有人，則在任一情況下，轉換價應在該等發行時降低，或如果已經確定該登記日期則在該登記日營業即將結束之時降低轉換價，通過將當時有效的轉換價乘以一個分數：
(1) the numerator of which shall be the total number of shares of Common Stock issued and outstanding immediately prior to the time of such issuance or the close of business on such record date; and
分子為緊接該等發行之時或該登記日營業即將結束之時已發行普通股的股份總數；和
(2) the denominator of which shall be the total number of shares of Common Stock issued and outstanding immediately prior to the time of such issuance or the close of business on such record date plus the number of shares of Common Stock issuable in payment of such dividend or distribution.
分母為緊接該發行之時或登記日營業即將結束之時已發行普通股的股份總數加上分配該等股息和紅利可發行的普通股股數。
(iii) Adjustment for Other Dividends and Distributions. If the Company shall, at any time or from time to time after the Issuance Date, make or issue or set a record date for the determination of holders of Common Stock entitled to receive a dividend or other distribution by the Company, payable in securities of the Company, other than shares of Common Stock, then, and in each event, an appropriate revision to the applicable Conversion Price shall be made and provision shall be made (by adjustments of the Conversion Price or otherwise) so that the holders of Series C Preferred Stock shall receive upon conversions thereof, in addition to the number of shares of Common Stock receivable thereon, the number of securities of the Company which they would have received had their Series C Preferred Stock been converted into Common Stock on the date of such event and had such holder thereafter, during the period from the date of such event to and including the Conversion Date, retained such securities (together with any distributions payable thereon during such period), giving application to all adjustments called for during such period under this Section 4(d)(iii) with respect to the rights of the holders of the Series C Preferred Stock; provided, however, that if such record date shall have been fixed and such dividend is not fully paid or if such distribution is not fully made on the date fixed therefor, the Conversion Price shall be adjusted pursuant to this paragraph as of the time of actual payment of such dividends or distributions; and provided further, however, that no such adjustment shall be made if the holders of Series C Preferred Stock simultaneously receive (i) a dividend or other distribution of shares of Common Stock in a number equal to the number of shares of Common Stock as they would have received if all outstanding shares of Series C Preferred Stock had been converted into Common Stock on the date of such event or (ii) a dividend or other distribution of shares of Series C Preferred Stock which are convertible, as of the date of such event, into such number of shares of Common Stock as is equal to the number of additional shares of Common Stock being issued with respect to each share of Common Stock in such dividend or distribution.
針對其他股息和紅利的調整。如果公司在發行日后的任何時間或不時應決定或設定一個登記日期以確定有權收到以除普通股外的公司證券的形式派發股息或其他紅利的普通股持有人，則在任一情況下，應適當修改適用的轉換價且做出相關規定（通過調整轉換價或其他方式），以使C系列優先股持有人于轉換時應獲得除可獲得的普通股股數外，還應獲得其應當獲得的公司證券的數量，如同該等C系列優先股持有人在該事件發生之日已將其C系列優先股轉換為普通股，且從該事件發生之日至轉換日（包括該日）止的期間內保留該等證券（以及該等期間應獲得的其他紅利），適用第4節(d)(iii)關于C系列優先股持有人的權利在該期間內要求的所有調整；但是，如果該登記日期已確定且未充分支付該等股息或未充分分配該等紅利，則轉換價應在實際支付該等股息或紅利時根據本段規定調整；然而，任何調整不得做出，如果C系列優先股持有人同時獲得(i)普通股的股息或其他紅利，普通股股數等于如同該等持有人在該事件發生之日已將所有已發行的C系列優先股股份轉換成普通股應獲得普通股股數或(ii)C系列優先股股份的股息或其他紅利，C系列優先股在該等事項發生之日可轉換的普通股股數等于每一股普通股在該等股息或紅利中發行的額外普通股股數。
(iv) Adjustments for Reclassification, Exchange or Substitution. If the Common Stock issuable upon conversion of the Series C Preferred Stock at any time or from time to time after the Issuance Date shall be changed to the same or different number of shares of any class or classes of stock, whether by reclassification, exchange, substitution or otherwise (other than by way of a stock split or combination of shares or stock dividends provided for in Sections 4(d)(i), (ii) and (iii), or a reorganization, merger, consolidation, or sale of assets provided for in Section 4(d)(v)), then, and in each event, an appropriate revision to the Conversion Price shall be made and provisions shall be made (by adjustments of the Conversion Price or otherwise) so that the holder of each share of Series C Preferred Stock shall have the right thereafter to convert such share of Series C Preferred Stock into the kind and amount of shares of stock and other securities receivable upon reclassification, exchange, substitution or other change, by holders of the number of shares of Common Stock into which such share of Series C Preferred Stock might have been converted immediately prior to such reclassification, exchange, substitution or other change, all subject to further adjustment as provided herein.
針對重新分類、交換和替代的調整。如果C系列優先股可轉換的普通股在發行日后的任何時間或不時應當變為相同或不同數量的任何類別股票的股份，不論系通過重新分類、交易、替代或其他方式（第4節(d)(i)、(ii) 和 (iii)規定的分股、并股、股票分紅，或第4節(d)(v)規定的重組、合并、兼并或資產出售除外），則在任一情況下，應適當修改轉換價且做出規定（通過調整轉換價或其他方式），以使C系列優先股持有人有權將該等股份轉換成特定類型和數量的股份和其他證券，該等股份和其他證券應為持有人在該等重新分類、交易、替代或其他改變即將發生前若轉換C系列優先股可持有的普通股股份在進行重組、重新分類或其它改變時應獲得的，但均受限于本股權證書規定的進一步調整。
(v) Adjustments for Reorganization, Merger, Consolidation or Sales of Assets. If at any time or from time to time after the Issuance Date there shall be a capital reorganization of the Company (other than by way of a stock split or combination of shares or stock dividends or distributions provided for in Section 4(d)(i), (ii) and (iii), or a reclassification, exchange or substitution of shares provided for in Section 4(d)(iv)), or a merger or consolidation of the Company with or into another corporation where the holders of the Company’s outstanding voting securities prior to such merger or consolidation do not own over 50% of the outstanding voting securities of the merged or consolidated entity, immediately after such merger or consolidation, or the sale of all or substantially all of the Company's properties or assets to any other person (an “Organic Change”), then as a part of such Organic Change an appropriate revision to the Conversion Price shall be made if necessary and provision shall be made if necessary (by adjustments of the Conversion Price or otherwise) so that the holder of each share of Series C Preferred Stock shall have the right thereafter to convert such share of Series C Preferred Stock into the kind and amount of shares of stock and other securities or property of the Company or any successor corporation resulting from the Organic Change.
針對重組、合并、兼并和資產出售的調整。如果公司在發行日后的任何時間或不時應進行資產重組（第4節(d)(i)、(ii)和(iii)規定的分股、并股、股票分紅，或第4節(d)(v)規定的股份的重新分類、交易或替換除外），或公司合并或兼并成為其他公司，在該等合并或兼并發生前公司已發行的有表決權證券的持有人緊隨該等合并或兼并后未持有合并或兼并后實體的超過50%的已發行的有表決權證券，或公司出售全部或實質出售全部財產或資產給其他個人（“結構變化”），則作為該結構變化的一部分，如需要應適當修改轉換價，且做出規定（通過調整轉換價或其他方式），以使C系列優先股持有人有權將C系列優先股轉換成公司或結構變化后的繼承者公司的一定類型和數量的股票和其他證券或財產。
In any such case, appropriate adjustment shall be made in the application of the provisions of this Section 4(d)(v) with respect to the rights of the holders of the Series C Preferred Stock after the Organic Change to the end that the provisions of this Section 4(d)(v) (including any adjustment in the Conversion Price then in effect and the number of shares of stock or other securities deliverable upon conversion of the Series C Preferred Stock) shall be applied after that event in as nearly an equivalent manner as may be practicable. In any such case, the resulting or surviving corporation (if not the Company) shall expressly assume the obligations to deliver, upon the exercise of the conversion privilege, such securities or property as the holders of the Series C Preferred Stock remaining outstanding (or of other convertible preferred stock received by such holders in place thereof) shall be entitled to receive pursuant to the provisions hereof, and to make provisions for the protection of the conversion rights as provided above. In addition to all other rights of the holders of the Series C Preferred contained herein, simultaneous with the occurrence of an Organic Change, each holder of the Series C Preferred Stock shall have the right, at such holder's option, to require the Company to redeem all or a portion of such holder's shares of the Series C Preferred Stock at a price per share of the Series C Preferred equal to one hundred ten percent (110%) of the Liquidation Preference Amount.
在任一該等情況下，為第4節(d)(v)（包括任何當時有效的轉換價和C系列優先股可轉換的股票或其他證券的數額的修訂）的規定在該等事件后以盡可實行的方式得以適用起見，應適用本第4節(d)(v)的規定適當調整C系列優先股的持有人在結構變化后的權利。在任一該等情況下，最終的或存續公司（如果不是公司）應在轉換特權行使時承擔交付該等證券或財產的義務，如果保持已發行狀態的C系列優先股（或該等持有人適當獲得的其他可轉換優先股）持有人根據本文的規定應獲得該等證券或財產，并有義務做出規定保護上文規定的轉換權利。除了此處規定的C系列優先股持有人的其他權利外，在發生結構變化的同時，C系列優先股的各持有人應有權選擇要求公司贖回該持有人持有的全部或部分C系列優先股，每一股C系列優先股的價格等于清算優先數額的百分之一百一十（110%）。
(vi) Adjustments for Issuance of Additional Shares of Common Stock. For a period of twelve (12) months following the effective date of the Registration Statement filed under the Registration Rights Agreement (the “Anti-Dilution Period”), in the event the Company shall issue or sell any additional shares of Common Stock (otherwise than as provided in the foregoing subsections (i) through (v) of this Section 4(d) or pursuant to (X) Common Stock Equivalents (as hereafter defined) granted or issued prior to the Issuance Date or (Y) subsection (xii) below) (“Additional Shares of Common Stock”) at a price per share less than the then-applicable Conversion Price or without consideration, then the Conversion Price upon each such issuance shall be reduced to that price (rounded to the nearest cent) determined by multiplying the Conversion Price by a fraction: (1) the numerator of which shall be equal to the sum of (A) the number of shares of Outstanding Common Stock immediately prior to the issuance of such Additional Shares of Common Stock plus (B) the number of shares of Common Stock (rounded to the nearest whole share) which the aggregate consideration for the total number of such Additional Shares of Common Stock so issued would purchase at a price per share equal to the outstanding Conversion Price in effect immediately prior to such issuance; and (2) the denominator of which shall be equal to the number of shares of Outstanding Common Stock immediately after the issuance of such Additional Shares of Common Stock.
針對發行額外普通股股份的調整。注冊登記權協議項下的登記申請生效日后的12個月期間（“反稀釋期間”）內，如果公司應以每股價格低于當時適用的轉換價或沒有對價發行或出售任何額外普通股股份（本第4節(d)前述(i)至(v)的規定，或根據 (X) 在發行日前授權或發行的普通股認購權（普通股認購權見下述有關規定）或(Y)下述(xii)的規定除外）（“額外普通股股份”），則應降低該等發行后的轉換價，價格（四舍五入到美分）等于轉換價乘以一個分數：(1)分子應等于(A)即將發行該等額外普通股股份前的已發行普通股的股數加上(B)用該等額外普通股股份的總對價以緊接該發行的有效的轉換價可以購買的普通股股數（四舍五入到整數股）；（2）分母應等于該緊隨額外普通股股份發行后的已發行普通股份的數量。
