Article 63. The extension of the term of the Company shall require the amendment of these articles of association which shall be approved by the affirmative votes of shareholders representing two-thirds of the voting rights in the shareholders’ meeting.
Chapter 14: Termination, Dissolution and Liquidation
Article 64. These articles of association shall terminate upon expiration of the term, unless extended by the shareholders' meeting pursuant to the provision above.
Article 65. The shareholders' meeting shall have the right to pass a resolution to terminate and liquidate the Company. Shareholders holding at least one-third of all shareholder voting rights may submit for consideration at the shareholders' meeting a resolution to dissolve the Company.
Article 66. The Company shall establish a liquidation committee and commence liquidation within 15 calendar days of the date of occurrence of the grounds for dissolution. The liquidation committee shall be composed of the shareholders of the Company and shall exercise the following functions and powers during liquidation:
(1) to thoroughly examine the property of the Company and prepare a balance sheet and a schedule of property, respectively;
(2) to notify creditors by notice or announcement;
(3) to dispose of and liquidate relevant unfinished business of the Company; (4) to pay all outstanding taxes in full as well as taxes arising in the course of liquidation;
(5) to clear the claims and debts;
(6) to dispose of the property remained after full payment of the Company's debts; and
(7) to participate in civil litigation activities on behalf of the Company. Article 67. The liquidation committee shall notify creditors, make public announcement, and follow liquidation procedures as required under Applicable Laws at the time of liquidation.
Chapter 15: Supplemental Provisions
Article 68. The Company registration matters shall be verified and approved by the company registration authority.
Article 69. These articles of association shall be made in six (6) originals, and one original shall be submitted to the company registration authority.
Article 70. These articles of association are hereby executed in ______, China by all the shareholders.
(The remainder of this page intentionally left blank)
Signature of all shareholders: