Exhibit 2.3

 

AMENDMENT 2 TO ACQUISITION AGREEMENT

 

This Amendment 2 to Acquisition Agreement (this “Amendment”), dated March 13, 2015 is entered into by and among China United Insurance Service, Inc., a company with limited liability incorporated under the laws of Delaware (“CUIS”) and the selling shareholders of Action Holdings Financial Limited (“AHFL”) as listed in Schedule I of this Amendment (the “Selling Shareholders”) .

 

CUIS and the Selling Shareholders are collectively referred to as the “Parties” and each a “Party” under this Amendment.

 

WHEREAS, the Parties entered into the Acquisition Agreement on August 24, 2012 (the “Agreement”), pursuant to which CUIS acquired any and all issued and outstanding shares of AHFL and became the sole shareholder of AHFL, and the Parties agreed that CUIS shall pay the consideration set forth in Section 2.2 of the Agreement for such acquisition.

 

WHEREAS, the Selling Shareholders and CUIS desire to amend certain provisions of Sections 2.2 of the Agreement.

 

Capitalized terms defined in the Agreement have, unless expressly defined in this Amendment or the context requires otherwise, the same meaning in the Agreement.

 

NOW, THEREFORE, in consideration of the mutual covenants and undertakings contained herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and subject to and on the terms and conditions set forth herein, the Parties hereto agree as follows:

 

To amend and restate Sections 2.2(iii), (iv) and (v):

(iii) pay NT$15 million to the Selling Shareholders in the amounts set forth opposite each Selling Shareholder's name on Schedule I on or prior to March 31, 2016 or at any other time or in any other manner otherwise agreed upon by and among the Parties; (iv) pay NT$7.5 million to the Selling Shareholders in the amounts set forth opposite each Selling Shareholder's name on Schedule I on or subsequent to March 31, 2016 or at any other time or in any other manner otherwise agreed upon by and among the Parties; and (v) set up an employee stock pool, consisting of up to 4 million shares of CUIS Common Stock, among which 2 million shares shall be solely granted to employees of Dinglv Broker pursuant to Section 2.8 herein, and the remaining 2 million shares to be granted to employees of affiliated entities of CUIS (including Dinglv Broker employees).

 

 

Except amended by this Amendment, any other provision of the Agreement shall remain unchanged. This Amendment together with the Agreement shall constitute the entire agreement among the Parties with respect to the subject matter of the Agreement and shall supersede all previous communications of the Parties in respect of the subject matter of the Agreement. This Amendment is made in one or more counterparts, all of which will be considered one and the same agreement and will become effective. When one or more counterparts have been signed by each of the parties and delivered to the other parties, it being understood that all parties need not sign the same counterpart.

 

IN WITNESS WHEREOF the Parties hereto have executed this Amendment as of the day and year first above written.

 

China United Insurance Service, Inc.
By:	/s/ MAO YI HSIAO
Name:	MAO YI HSIAO
Title:	Director

  

 

 IN WITNESS WHEREOF the Parties hereto have executed this Amendment as of the day and year first above written.

 

Selling Shareholders

 

By: /s/ MAO YI HSIAO Name: MAO YI HSIAO	By: /s/ CHOU CHUNG HSIEN Name: CHOU CHUNG HSIEN
By: /s/ CHEN HUNG JU Name: CHEN HUNG JU	By: /s/ YU HENG CHI Name: YU HENG CHI
By: /s/ CHENG MIN LUNG Name: CHENG MIN LUNG	By: /s/ CHEN HSIN CHU Name: CHEN HSIN CHU
By: /s/ LEE TSUN HSING Name: LEE TSUN HSING	By: /s/ CHEN SHU TZU Name: CHEN SHU TZU
By: /s/ YEH FU CHAO Name: YEH FU CHAO	By: /s/ CHEN YING CHANG Name: CHEN YING CHANG
By: /s/ HSU MING CHU Name: HSU MING CHU	By: /s/ CHEN YI CHING Name: CHEN YI CHING
By: /s/ YU WANG CHIN Name: YU WANG CHIN	By: /s/ YANG LI LING Name: YANG LI LING
By: /s/ WANG LING SHUEH Name: WANG LING SHUEH	By: /s/ CHEN PO CHIANG Name: CHEN PO CHIANG

 

 

By: /s/ CHEN HSIAO HUNG Name: CHEN HSIAO HUNG	By: /s/ CHIANG WEN TE Name: CHIANG WEN TE
By: /s/ LI BI E Name: LI BI E	By: /s/ LIN KUNG YEN Name: LIN KUNG YEN

  

By: /s/ YANG CHE CHIA Name: YANG CHE CHIA	By: /s/ HONG ZHONG NAN Name: HONG ZHONG NAN
By: /s/ CHOU SHIOU HUEI Name: CHOU SHIOU HUEI	By: /s/ JIAN SU HUA Name: JIAN SU HUA
By: /s/ HSU YA LIN Name: HSU YA LIN	By: /s/ HAO CHIEH Name: HAO CHIEH

 

By: /s/ WANG JEN CHUAN Name: WANG JEN CHUAN	By: /s/ WANG MEI HUI Name: WANG MEI HUI
By: /s/ LIAO YUNG MING Name: LIAO YUNG MING	By: /s/ LIU TA WEI Name: LIU TA WEI

 

 

By: /s/ CHANG CHIEN HAN CHUNG Name: CHANG CHIEN HAN CHUNG	By: /s/ CHENG HSING LING Name: CHENG HSING LING
By: /s/ YANG HSIU YUN Name: YANG HSIU YUN	By: /s/ LIN TING HUA Name: LIN TING HUA
By: /s/ LIN CHU CHUN Name: LIN CHU CHUN	By: /s/ LEE YAO TUNG Name: LEE YAO TUNG
By: /s/ TSAI CHIH HUNG Name: TSAI CHIH HUNG	By: /s/ HUANG SHU JHEN Name: HUANG SHU JHEN
By: /s/ TSAI KUO SUNG Name: TSAI KUO SUNG	By: /s/ CHAO HUI HSIEN Name: CHAO HUI HSIEN
By: /s/ WU CHI TAI Name: WU CHI TAI	By: /s/ HSU PEI YU Name: HSU PEI YU
By: /s/ CHEN HSUAN YU Name: CHEN HSUAN YU	By: /s/ TU WEI PIN Name: TU WEI PIN
By: /s/ JIANG KAI WEI Name: JIANG KAI WEI	By: /s/ TU CHENG WEI Name: TU CHENG WEI

  

By: /s/ LIN CHUN WEI Name: LIN CHUN WEI

By: /s/ CHAN HUI YING Name: CHAN HUI YING

 

 

By: /s/ TU WEN TI Name: TU WEN TI	By: /s/ CHUANG YUNG CHI Name: CHUANG YUNG CHI
By: /s/ SHEN WEN CHE Name: SHEN WEN CHE	By: /s/ CHIN LI HSUN Name: CHIN LI HSUN
By: /s/ HSIEH TUNG CHI Name: HSIEH TUNG CHI	By: /s/ YEH JEI HUA Name: YEH JEI HUA
By: /s/ CHEN YU ZHEN Name: CHEN YU ZHEN	By: /s/ LIN CHIN CHIANG Name: LIN CHIN CHIANG

 

By: /s/ TSAO CHIH TANG Name: TSAO CHIH TANG	By: /s/ SHIH YEN CHIN Name: SHIH YEN CHIN
By: /s/ CHENG YA FEN Name: CHENG YA FEN	By: /s/ CHEN HSIANG LI Name: CHEN HSIANG LI
By: /s/ HUANG CHUN CHIEH Name: HUANG CHUN CHIEH	By: /s/ LIU YU FANG Name: LIU YU FANG
By: /s/ TUNG SU LAN Name: TUNG SU LAN	By: /s/ CHANG HUI CHUN Name: CHANG HUI CHUN

 

 

By: /s/ YEN YU HSUN Name: YEN YU HSUN	By: /s/ YEH WAN YU Name: YEH WAN YU
By: /s/ CHEN MING HSIU Name: CHEN MING HSIU	By: /s/ YANG HSIANG HUI Name: YANG HSIANG HUI
By: /s/ NIEN HUI CHU Name: NIEN HUI CHU	By: /s/ CHIH YING PEI Name: CHIH YING PEI

  

By: /s/ SHEN KAI FONG Name: SHEN KAI FONG	By: /s/ WANG LING SHIH Name: WANG LING SHIH
By: /s/ CHEN HSIAO MEI Name: CHEN HSIAO MEI	By: /s/ CHENG YEN WEN Name: CHENG YEN WEN
U-Li Investment Consulting Enterprise Co., Ltd. By: /s/ LEE SHU FEN Name: LEE SHU FEN Title: Director	Marcopolo Investment Company Ltd. By: /s/ CHOU CHUNG HSIEN Name: CHOU CHUNG HSIEN Title: Director
CHENG HENG Investment Co., Ltd. By: /s/ YU HENG CHI Name: YU HENG CHI Title: Director	HONG YUAN Investment Co., Ltd. By: /s/ LEE TSUN HSING Name: LEE TSUN HSING Title: Director

 

 

FENG SHOU Investment Co., Ltd. By: /s/ CHEN HUNG JU Name: CHEN HUNG JU Title: Director

By: /s/ CHEN CHANG CHIH Name: CHEN CHANG CHIH

 

SCHEDULE I CASH CONSIDERATION

 

China United Insurance Service, Inc.

 

No.		Shareholder Name		Amount of Cash Payable to the Selling Shareholders on or prior to March 31, 2015				Amount of Cash Payable to the Selling Shareholders on or subsequent to March 31, 2015
1		MAO YI HSIAO			1,366,117				683,058
2		CHOU CHUNG HSIEN			91,941				45,970
3		CHEN HUNG JU			974,276				487,138
4		YU HENG CHI			487,345				243,673
5		CHENG MIN LUNG			583,112				291,556
6		CHEN HSIN CHU			155,285				77,642

 

 

7		LEE TSUN HSING			20,633				10,316
8		CHEN SHU TZU			103,089				51,545
9		YEH FU CHAO			109,494				54,747
10		CHEN YING CHANG			206,357				103,178
11		HSU MING CHU			315,082				157,541
12		CHEN YI CHING			40,122				20,061
13		YU WAN CHIN			33,440				16,720
14		YANG LI LING			100,036				50,018
15		WANG LING SHUEH			8,345				4,172
16		CHEN PO CHIANG			8,741				4,370
17		CHEN HSIAO HUNG			36,292				18,146
18		CHIANG WEN TE			380,343				190,172
19		LE BI E			26,914				13,457
20		LIN KUNG YEN			38,362				19,181

  

China United Insurance Service, Inc.

 

No.		Shareholder Name		Amount of Cash Payable to the Selling Shareholders on or prior to March 31, 2015				Amount of Cash Payable to the Selling Shareholders on or subsequent to March 31, 2015
21		YANG CHE CHIA			98,248				49,124
22		HONG ZHONG NAN			43,317				21,659
23		CHOU SHIOU HUEI			26,049				13,024
24		JIAN SU HUA			37,669				18,834
25		HSU YA LIN			170,464				85,232
26		HAO CHIEH			40,020				20,010

 

 

27		WANG JEN CHUAN			14,514				7,257
28		WANG MEI HUI			7,457				3,729
29		LIAO YUNG MING			29,793				14,897
30		LIU TA WEI			102,102				51,051
31		CHANG CHIEN HAN CHUNG			50,507				25,253
32		CHENG HSING LING			40,319				20,159
33		YANG HSIU YUN			20,126				10,063
34		LIN TING HUA			101,928				50,964
35		LIN CHU CHUN			34,232				17,116
36		LEE YAO TUNG			27,535				13,768
37		TSAI CHIH HUNG			42,855				21,428
38		HUANG SHU CHEN			6,651				3,326
39		TSAI KUO SUNG			96,892				48,446
40		WU CHI TAI			14,053				7,026
41		HSU PEI YU			15,215				7,607
42		CHEN HSUAN YU			37,659				18,829
43		TU WEI PIN			38,304				19,152
44		JIANG KAI WEI			29,187				14,594
45		TU CHENG WEI			25,681				12,841

 

 

China United Insurance Service, Inc.

 

No.		Shareholder Name		Amount of Cash Payable to the Selling Shareholders on or prior to March 31, 2015				Amount of Cash Payable to the Selling Shareholders on or subsequent to March 31, 2015
46		LIN CHUN WEI			6,589				3,295
47		CHAN HUI YING			7,688				3,844
48		CHAO HUI HSIEN			115,275				57,637
49		TU WEN TI			32,531				16,266
50		CHUANG YUNG CHI			35,360				17,680
51		SEHN WEN CHE			39,684				19,842
52		CHIN LI HSUN			20,206				10,103
53		HSIEH TUNG CHI			30,440				15,220
54		YEH JEI HUA			37,886				18,943
55		CHEN YU ZHEN			10,103				5,051
56		LIN CHIN CHIANG			12,558				6,279
57		TSAO CHIH TANG			3,293				1,647
58		SHIH YEN CHIN			10,224				5,112
59		CHENG YA FEN			6,627				3,314
60		CHEN HSIANG LI			10,224				5,112
61		HUANG CHUN CHIEH			10,224				5,112
62		LIU YU FANG			10,224				5,112
63		TUNG SU LAN			6,890				3,445
64		CHANG HUI CHUN			20,460				10,230
65		YEN YU HSUN			5,819				2,910
66		YEH WAN YU			10,224				5,112
67		CHEN MING HSIU			6,890				3,445
68		YANG HSIANG HUI			10,224				5,112
69		NIEN HUI CHU			10,224				5,112
70		CHIH YIN PEI			10,224				5,112
71		SHEN KAI FONG			3,334				1,667

 

 

China United Insurance Service, Inc.

 

No.		Shareholder Name		Amount of Cash Payable to the Selling Shareholders on or prior to March 31, 2015				Amount of Cash Payable to the Selling Shareholders on or subsequent to March 31, 2015
72		WANG LING SHIH			3,596				1,798
73		CHEN HSIAO MEI			3,596				1,798
74		CHENG YEN WEN			3,596				1,798
75		U-Li Investment Consulting Enterprise Co., Ltd.			5,107,500				2,553,750
76		Marcopolo Investment Company Ltd.			909,254				454,627
77		CHENG HENG Investment Co., Ltd.			858,740				429,370
78		HONG YUAN Investment Co., Ltd.			626,375				313,188
79		FENG SHOU Investment Co., Ltd.			757,712				378,856
80		CHEN CHANG CHIH			10,103				5,051
Total					NT$15 MILLION				NT$7.5 MILLION