[实用参考]Shareholders-Agreement-(Execution-Version).doc

('[重点实用参考文档资料]ExecutionVersion7A版优质实用文档DatedMay14200820GGTheInvestorandTheFoundersandTheMajorShareholdersandMagicTechNetworkCompanyLimitedSHAREHOLDERS’AGREEMENTinrelationtoMagicTechNetworkCompanyLimited7A版优质实用文档i[重点实用参考文档资料]ExecutionVersion7A版优质实用文档THISAGREEMENTismadeonMay14,200820GGbetween:(1)ThePersonwhosenamesandaddressesaresetoutinPart1ofSchedule1(the“Investor”);(2)ThePersonswhosenamesandaddressesaresetoutinPart2ofSchedule1(the“Founders”);(3)ThePersonswhosenamesandaddressesaresetoutinPart3ofSchedule1(the“MajorShareholders”);and(4)MagicTechNetworkCompanyLimited,acompanyincorporatedunderthelawsofHongKongwithitsregisteredaddressatRoom401,4thFloor,ChinaInsuranceGroupBuilding,141DesVoeuxGCentral,HongKong(the“Company”).(eacha“Party”andcollectivelythe“Parties”)Recitals:(A)TheCompanyisincorporatedinHongKong.(B)EachoftheFoundersholds100%legalandbeneficialinterestintheissuedsharecapitaloftheapplicableMajorShareholders,whichcollectivelyown100%issuedsharecapitaloftheCompanyasatthedateofthisAgreement.(C)TheInvestorhasagreedtosubscribefortheSubscribedSharesonthetermsandconditionsoftheSubscriptionAgreement.7A版优质实用文档1[重点实用参考文档资料]ExecutionVersion7A版优质实用文档(D)ThePartieshaveagreedtoenterintothisAgreementtoregulatethemanagementandcontroloftheCompanyandtheoperationoftheBusinessonthetermsandconditionssetoutherein.Now,therefore,inconsiderationofthemutualpremises,representations,warranties,covenantsandconditionssetforthinthisAgreement,thePartieshereto,intendingtobelegallybound,herebyagreeasfollows:1Interpretation1.1InthisAgreement(includingtheRecitals),thefollowingwordsandexGpressionshavethemeaningssetoutbelow:“Affiliate”means,withrespecttoanyPerson,anyotherPersondirectlyorindirectlycontrolling,controlledby,orundercommoncontrolwithsuchPerson(includinganySubsidiary)and,foranypersonwhoisanindividual,includessuchindividual’sspouse,andeachofsuchindividual’sandsuchindividual’sspouse’srelativestothethirddegree,“Affiliates”and“Affiliated”shallhavecorrelativemeanings.Forthepurposeofthisdefinition,theterm“control”(includingwithcorrelativemeanings,theterms“controlling”,“controlledby”and“undercommoncontrolwith”),asusedwithrespecttoanyPerson,shallmeanthepossession,directlyorindirectly,ofthepowertodirectorcausethedirectionofthemanagementandpoliciesofsuchPerson,whetherthroughtheownershipofvotingsecuritiesorbycontractorotherwise;7A版优质实用文档2[重点实用参考文档资料]ExecutionVersion7A版优质实用文档“Articles”meanthenewarticlesofassociationoftheCompanytobeadoptedbytheCompanyinaccordancewithschedule4oftheSubscriptionAgreement,asmaybeamendedfromtimetotime;“AuditCommittee”meanstheauditcommitteeoftheBoardestablishedinaccordancewithClause4.5;“AuditedAccounts”meansthereportandauditedaccountsoftheCompanyandofeachGroupCompanyandtheauditedconsolidatedaccountsoftheGroupfortheFinancialYearendingontherelevantbalancesheetdate;“Auditors”meansanyofPricewaterhouseCoopers,KPMG,DeloitteToucheTohmatsuorErnst&YoungasmaybeappointedasauditorsoftheCompanyfromtimetotime;“Board”meanstheboardofDirectorsoftheCompanyasconstitutedfromtimetotime;“Budget”meansthebudgetfortheGroupapprovedfromtimetotimebytheBoardinaccordancewiththetermsofthisAgreement;“Business”meansthebusinessofparticipatingandmakinginvestmentsintheonlinegameindustryinthePRC;“BusinessDay”meansadaywhichisnotaSaturday,aSundayorapublicholidayinthePRCorHongKong;“BusinessPlan”meansthebusinessplanfortheGroup,aspreparedannuallyinrespectoftheforthcomingthree(3)yearsperiodsetting7A版优质实用文档3[重点实用参考文档资料]ExecutionVersion7A版优质实用文档outdetailsoftheGroup’sstrategicplanninginrespectofcustomers(includingmarketdevelopmentandcapacitygrowth),capitalexGpenditure,financing,taxG,competitorsandcontingencyplanningandapprovedbytheBoardfromtimetotimeinaccordancewiththisAgreement;“Chairman”meansthechairmanoftheBoardfromtimetotimeasappointedinaccordancewithClauses4.2or4.3.5;“Completion”meanscompletionofthesubscriptionbytheInvestoroftheSubscribedShare,pursuanttoandasdefinedundertheSubscriptionAgreement;“CompletionDate”meansthedateonwhichCompletiontakesplacepursuanttoandasdefinedundertheSubscriptionAgreement;“DefaultingParty”hasthemeaningascribedtoitinClause13.1;“Directors”meansthedirectorsoftheCompanyand“Director”meansanyoneofthem;“EligibleExGchange”meanstheStockExGchangeofHongKongLimitedoranyotherinternationallyrecognisedinvestmentexGchangeofthesameofhigherinternationalstandingasmaybeapprovedbytheIPOCommittee(withtheapprovalofatleastoneInvestorDirector);“Encumbrance”meansanyclaim,charge,mortgage,lien,option,equity,powerofsale,hypothecation,retentionoftitle,rightofpre-7A版优质实用文档4[重点实用参考文档资料]ExecutionVersion7A版优质实用文档emption,rightoffirstrefusalorotherthirdpartyrightorsecurityinterestofanykindoranagreement,arrangementorobligationtocreateanyoftheforegoing;“ESOP”meanstheEmployeeStockOwnershipPlanoftheCompanyasapprovedbytheBoardfromtimetotime];“EventofDefault”hasthemeaningascribedtoitinClause12.1;“ExGistingHolder”hasthemeaningascribedtoitinClause9.1;“FinancialYear”meansafinancialyearcommencingon1Januaryandendingon31DecemberofthesameyearsavethatthefirstfinancialyearoftheGroupCompaniesintheGroupshallcommenceonestablishmentoftheCompanyandendon31Decemberofthesameyear;“FirstAdjournedBoardMeeting”hasthemeaningascribedtoitinClause4.3.4;“GovernmentalEntity”meansanynational,provincial,regional,municipal,localorothergovernmental,legislative,administrativeorregulatoryauthority,body,agency,commissionorothersimilarentity(includinganybranch,departmentorofficialthereof)oranysuccessorentity;“GroupCompanies”meanstheCompanyandeachofitsSubsidiariesandcompaniesinwhichtheCompanyhasthedirectorindirectcontrollingthroughtheownershipofvotingsecuritiesorbycontract,7A版优质实用文档5[重点实用参考文档资料]ExecutionVersion7A版优质实用文档and“Group”shallbeconstruedaccordingly.ForthepurposeofthisAgreement,GroupCompaniesshallinclude,withoutlimitation,anyofPRCGroupCompanies;“HKIAC”meanstheHongKongInternationalArbitrationCentre;“HK$”meansHongKongdollars,thelawfulcurrencyofHongKong;“HongKong”meanstheHongKongSpecialAdministrativeRegionofthePRC;“IFRS”meanstheinternationalfinancialreportingstandardspublishedbytheInternationalAccountingBoardfromtimetotime;“IndependentFinancialAdviser”meansaninternationalinvestmentbankasmaybeappointedbytheInvestoratthecostoftheMajorShareholders;“InvestorDirectors”meanstheDirectorsappointedbytheInvestorinaccordancewiththisAgreementand“InvestorDirector”meansanyoneofthem;“Investor’sLosses”meansallLossesinaggregatetheInvestormaysufferthroughorarisingfromanybreachbyanyoftheMajorShareholders,anyoftheFoundersortheCompanyofitsobligationsunderthisAgreement.“IPO”meanstheinitialpublicofferingandlistingoftheCompany’sOrdinarySharesonanEligibleExGchange;7A版优质实用文档6[重点实用参考文档资料]ExecutionVersion7A版优质实用文档“IPOCommittee”meanstheIPOcommitteeoftheBoardestablishedinaccordancewithClause4.5;“KeyManagers”meansseniormanagementpersonneloftheCompanyatthelevelequivalenttodeputygeneralmanagersorabove;“ListingRules”meanstherelevantlistingrulesgoverningtheIPOontheEligibleExGchange;“Losses”meansalllosses,liabilities,costs(includingwithoutlimitationlegalcostsandexGperts’andconsultants’fees),charges,exGpenses,actions,proceedings,claimsanddemands;“MajorShareholders’Directors”meanstheDirectorsappointedbytheMajorShareholderspursuanttoandsubjecttothetermsofthisAgreementand“MajorShareholders’Director”meansanyoneofthem;“MarketCapitalisation”meanstheamountequaltotheestimatedaggregatenumberofissuedandoutstandingOrdinaryShares,onafullydilutedbasis,immediatelybeforetheinitialpublicofferingandlistingofOrdinarySharesmultipliedbytheestimatedlistingpriceinrespectofsuchOrdinaryShares;“Notice”hasthemeaningascribedtoitinClause21;“NoticeofDefault”hasthemeaningascribedtoitinClause12.2;7A版优质实用文档7[重点实用参考文档资料]ExecutionVersion7A版优质实用文档“OrdinaryShares”meanstheordinarysharesofHK$1parvalueeachinthesharecapitaloftheCompanyhavingtherightssetoutintheArticles;“Person”meansanindividual,firm,corporation,partnership,association,limitedliabilitycompany,union,trustorestateoranyotherentityororganizationwhetherornothavingseparatelegalexGistence,includinganyGovernmentalEntity;“PRC”meansthePeople’sRepublicofChina,whichforthepurposesofthisAgreement,shallexGcludeHongKong,MacauandTaiwan;“PRCGroupCompanies”meanstheWOFEandeachofitsSubsidiaries(which,fortheavoidanceofdoubt,shallincludeMGandS5,and“PRCGroup”shallbeconstruedaccordingly;“Pre-emptionOffer”hasthemeaningascribedtoitinClause9.1.1;“QualifyingIPO”meansaninitialpublicofferingandlistingofandpermissiontodealintheOrdinarySharesontheEligibleExGchangeinrespectofwhichtheMarketCapitalisationshallnotbelessthanUS$100million;“RemainingShareEquivalent”hasthemeaningascribedtoitinClause9.1.3;“ReservedMatters”hasthemeaningascribedtoitinClause5.1;“Restructuring”meanstherestructuringoftheGroup,detailsofwhicharesetoutintheRestructuringMemorandum;7A版优质实用文档8[重点实用参考文档资料]ExecutionVersion7A版优质实用文档“RestructuringMemorandum”meansthememorandumwhichsetsoutthestepsinvolvedintherestructuringassetoutinschedule6oftheSubscriptionAgreement;“RMB”meansrenminbi,thelawfulcurrencyofthePRC;“SecondAdjournedBoardMeeting”hasthemeaningascribedtoitinClause4.3.4;“Shareholders”meanstheInvestorandtheMajorShareholders,andanyPersonwhichaccedestothisAgreementasaparty(ortheirrespectivesuccessorsintitleasholdersof,OrdinaryShares)anda“Shareholder”shallmeananyoneofthem;“ShareEquivalent”meansOrdinarySharesandanysecurityorobligationwhichisbyitstermsconvertibleintoorexGchangeableorexGercisableforOrdinarySharesorothersharecapitaloftheCompany;“StrategyDevelopmentCommittee”meansthestrategydevelopmentcommitteeoftheBoardestablishedinaccordancewithClause4.5;“SubscribedShares”meanstheOrdinarySharessubscribedforbytheInvestorunderClause2.1oftheSubscriptionAgreement;“SubscriptionAgreement”meansthesharesubscriptionagreemententeredintobetweentheInvestor,theFoundersandtheMajor7A版优质实用文档9[重点实用参考文档资料]ExecutionVersion7A版优质实用文档ShareholdersonthedateofthisAgreementpursuanttowhichtheInvestorhasagreedtosubscribefortheSubscribedShares;“Subsidiary”meansanyPersonwhichisdirectlyorindirectlycontrolledbyanotherPerson.Forthepurposesofthisdefinition,“control”hasthemeaningsetforthaboveunderthedefinitionof“Affiliate”.“Tag-alongright”hasthemeaningascribedtoitinClause8.2;“TaxG”meansallformsoftaxGationwhetherdirectorindirectandwhetherleviedbyreferencetoincome,profits,gains,netwealth,assetvalues,turnover,addedvalueorotherreferenceandstatutory,governmental,state,provincial,localgovernmentalormunicipalimpositions,duties(includingcapitalduty),contributionsandlevies,wheneverimposedandwhetherimposedinHongKong,thePRCorelsewhereintheworld,andallpenalties,chargesandinterestrelatingthereto;“TransactionDocuments”meansthelegallybindingdocumentstobeenteredintobytherelevantpartiesinrespectoftheSubscription,andtheParties’cooperation,namelythisAgreement,theShareholders’Agreement,theArticles,theagreementsamongtheGroupCompaniessetoutintheRestructuringMemorandum;;“UNCITRALRules”meansthearbitrationrulesoftheUnitedNationsCommissiononInternationalTradeLawadoptedon28April1976as7A版优质实用文档10[重点实用参考文档资料]ExecutionVersion7A版优质实用文档inforceatthedateofthisAgreementandasmodifiedbythisAgreement;“UnitedStates”or“US”meanstheUnitedStatesofAmerica,and“US$”or“USD”meansUnitedStatesdollars,thelawfulcurrencyoftheUnitedStatesofAmerica.1.2LiabilityunderthisAgreementTheliabilitiesandobligationsoftheCompany,FoundersandtheMajorShareholdersunderthisAgreementshallbeseveral,unlessotherwiseexGpressed.EachFounderandhiscorrespondingMajorShareholderownedbysuchFoundershallbejointlyandseverallyliablefortheirliabilitiesandobligationsunderthisAgreement.AnyliabilityorobligationoftheCompany,Foundersand/orMajorShareholderstotheInvestorunderthisAgreementmay,inwholeorinpart,bereleased,compoundedorcompromisedbytheInvestorinitsabsolutediscretionwithoutinanywayprejudicingoraffectingtheInvestor’srightsagainsttheFoundersandtheMajorShareholdersunderthesameoralikeliabilityorobligation.1.3SubordinatelegislationReferencestoastatutoryprovisionincludeanysubordinatelegislationmadefromtimetotimeunderthatprovision.1.4Modificationetc.ofstatutes7A版优质实用文档11[重点实用参考文档资料]ExecutionVersion7A版优质实用文档Referencestoastatuteorstatutoryprovisionincludethatstatuteorprovisionasfromtimetotimemodifiedorre-enactedorconsolidatedwhetherbeforeorafterthedateofthisAgreementsofarassuchmodificationorre-enactmentorconsolidationappliesoriscapableofapplyingtoanytransactionsenteredintoinaccordancewiththisAgreementand(sofarasliabilitythereundermayexGistorcanarise)shallincludealsoanypaststatuteorstatutoryprovision(asfromtimetotimemodifiedorre-enactedorconsolidated)whichsuchprovisionhasdirectlyorindirectlyreplacedprovidedthatnothinginthisClause1.4shalloperatetoincreasetheliabilityofanyPartybeyondthatwhichwouldhaveexGistedhadthisClause1.4beenomitted.1.5Clauses,Schedulesetc.ReferencestothisAgreementincludeanyRecitalsandSchedulestoitandthisAgreementasfromtimetotimeamendedandreferencestoClausesandSchedulesaretoClausesofandSchedulestothisAgreement.ReferencestoparagraphsaretoparagraphsoftheSchedules.1.6HeadingsHeadingsshallbeignoredinconstruingthisAgreement.1.7TimeofdayReferencestotimeofdayaretoHongKongtimeunlessotherwisestated.7A版优质实用文档12[重点实用参考文档资料]ExecutionVersion7A版优质实用文档1.8Winding-upReferencestothewinding-upofaPersonincludetheamalgamation,reconstruction,reorganisation,administration,dissolution,liquidation,mergerorconsolidationofsuchPersonandanyequivalentoranalogousprocedureunderthelawofanyjurisdictioninwhichthatPersonisincorporated,domiciledorresidentorcarriesonbusinessorhasassets.1.9RepresentativesReferencestothoseofthePartiesthatareindividualsincludetheirrespectivelegalpersonalrepresentatives.1.10InformationAnyreferencetobooks,recordsorotherinformationmeansbooks,recordsorotherinformationinanyformincludingpaper,electronicallystoreddata,magneticmedia,filmandmicrofilm.1.11GenderReferencestothemasculinegenderincludesthefeminineandviceversa.Referencestothemasculineorfemininegendersincludetheneuterandviceversa.2ConditionsandWarranties2.1Conditionsprecedent7A版优质实用文档13[重点实用参考文档资料]ExecutionVersion7A版优质实用文档ExGceptforClauses1(Interpretation),2(ConditionsandWarranties),13(Founders’Guarantee),15(Indemnities),16(Confidentiality),17(GoverningLaw),18(Arbitration),19(PublicAnnouncements),20(DurationandTermination),21(Notices),22(WholeAgreement)and23(General),whichshallcomeintoeffectonthedateofthisAgreement,theprovisionsofthisAgreementshallbeconditionaluponCompletiontakingplaceandshallcomeintoeffectuponCompletion.2.2Non-satisfactionIfCompletiondoesnottakeplaceonorbeforeLongStopDateorsuchotherdateasdeterminedbytheInvestor,thisAgreementshalllapseandnoPartyshallhaveanyclaimagainstanyotherunderit,saveasotherwiseprovidedinthisAgreementorinanyotherTransactionDocument.2.3Warranties2.3.1EachoftheFoundersandtheMajorShareholderswarrantstotheInvestorthat,exGceptasfairlydisclosedinwritingtotheInvestorpriortotheexGecutionofthisAgreement:(i)ithasthefullpowerandauthoritytoenterintoandtoperformitsobligationsunderthisAgreementwhichwhenexGecutedwillconstitutevalidandbindingobligationsonitinaccordancewithitsterms;and7A版优质实用文档14[重点实用参考文档资料]ExecutionVersion7A版优质实用文档(ii)theentryanddeliveryof,andtheperformancebyitofthisAgreementwillnotresultinanybreachofanyprovisionofitsmemorandumandarticlesofassociationorresultinanyclaimbyathirdpartyagainstanyoftheInvestorortheCompany.2.3.2TheInvestorwarrantstotheFoundersandtheMajorShareholdersthat,exGceptasfairlydisclosedinwritingtotheFoundersandtheMajorShareholderspriortotheexGecutionofthisAgreement:(i)ithasthefullpowerandauthoritytoenterintoandtoperformitsobligationsunderthisAgreementwhichwhenexGecutedwillconstitutevalidandbindingobligationsonitinaccordancewithitsterms;and(ii)theentryanddeliveryof,andtheperformancebyitofthisAgreementwillnotresultinanybreachofanyprovisionofitsmemorandumandarticlesofassociationorresultinanyclaimbyathirdpartyagainsttheFounders,theMajorShareholdersortheCompany.3TheBusinessoftheCompanyandCovenantsoftheParties3.1ConductoftheBusinessEachoftheShareholdersagreesthatitsrespectiverightsintheCompanyshallberegulatedbythisAgreementandtheArticles(ifapplicable).TheFounders,theInvestor,theMajorShareholdersand7A版优质实用文档15[重点实用参考文档资料]ExecutionVersion7A版优质实用文档theCompanyagreetobeboundbyandcomplywiththeprovisionsofthisAgreementwhichrelatetothem,andthatallprovisionsoftheArticles(ifapplicable)willbeenforceablebythePartiesbetweenthemselvesinwhatevercapacity.EachoftheFoundersandtheMajorShareholdersundertaketoprocurethattheCompanyshallnotcarryonanyactivitiesotherthanforthepurposeofconductingtheBusinessandotherbusinessunanimouslyapprovedbytheBoardfromtimetotime.3.2CovenantsoftheInvestor,theFoundersandtheMajorShareholdersEachoftheFoundersandtheMajorShareholdersundertakestotheInvestor:3.2.1thatitshallnottakeanyactionordoanything(oromittodothesame)whichresultsintheCompanybeinginbreachofitsobligationsandprovisionsunderanyoftheTransactionDocuments;3.2.2thatitshallexGercise,procuretheexGerciseorrefrainfromexGercising(asthecasemaybe)anyvotingrightsoverthesharesorotherpowersofcontrolsoastoensurethepassingofanyandeveryresolutionnecessaryordesirabletoprocurethattheaffairsoftheCompanyareconductedinaccordancewiththeprovisionsofthisAgreementandotherwisetogivefulleffecttotheprovisionsofthisAgreementandlikewisetoensurethatnoresolutionispassedwhichdoesnotaccordwithsuchprovisions;7A版优质实用文档16[重点实用参考文档资料]ExecutionVersion7A版优质实用文档3.2.3thatitshallnotvarythetermsorwaiveanyoftheconditionstooranyrightsundertheTransactionDocumentstowhichtheInvestorisnotapartywithoutthewrittenconsentoftheInvestor;3.2.4thatitshall,andshallprocuretheGroupCompaniesto,complywiththeRestructuringMemorandum;3.2.5thatitshall,andshallprocuretheboardofdirectorsoftheGroupCompaniesto,approveinternalpoliciesincompliancewiththeapplicableanti-briberyoranti-corruptionlawsandregulationsinthePRC;and3.2.6thatitshallprocurethecommitteesoftheBoardofDirectorsoftheCompanytobedulyconstitutedinaccordancewithClause4.5ofthisAgreement.4TheBoard4.1DirectorsoftheCompany4.1.1UntiltheeffectivedateofthearticlesofassociationoftheCompanyadoptedforthepurposesoffilingtherelevantapplicationtotherelevantEligibleExGchangetotheIPO,thefollowingprovisionsshallapply:(i)TheBoardofanyoftheGroupCompaniesshallconsistoffive(5)Directors.TheMajorShareholdersshallhavetherighttojointlynominate3MajorShareholders’DirectorsandtheInvestorshallhavetherighttonominate2InvestorDirectors.7A版优质实用文档17[重点实用参考文档资料]ExecutionVersion7A版优质实用文档TheMajorShareholdersortheInvestor(asthecasemaybe)shallgiveNoticetotheotherofthenamesandintendeddateofelectionatleasttwenty(20)BusinessDayspriortotheintendeddateofelectionofitsortheirnominee(s)asDirector(s),or,inthecaseofthefirstDirectorstobeappointed,atleastfive(5)BusinessDaysbeforetheCompletionDate.IntheeventofanychangetothecompositionoftheBoard,theInvestorshallalwaysbeentitledtonominatesuchnumberofInvestorDirectorstotheBoardwhichshallbeinproportiontotheInvestor’sequityinterestintheCompany.(ii)AMajorShareholders’DirectormayberemovedbythenominatingMajorShareholderandInvestorDirectorsmayberemovedbytheInvestorbyNoticeservedontheotherShareholders.AMajorShareholderortheInvestormaynominateanotherpersontobeelectedtoreplacetheMajorShareholders’DirectororInvestorDirector(asthecasemaybe)whoseappointmentisremovedunderthisClause4.1.1(ii),inaccordancewithClause4.1.1(i).(iii)FollowingreceiptofaNoticegiveninaccordancewithClause4.1.1(i)orClause4.1.1(ii)(asthecasemaybe),eachoftheMajorShareholdersandtheInvestorshallexGercisetheirrespectiverightsunderthisAgreementandtheArticlesasShareholder(s)intheCompany(ifapplicable)toensurethateachsuchnomineeispromptlyelectedbytheShareholder(s)ofthe7A版优质实用文档18[重点实用参考文档资料]ExecutionVersion7A版优质实用文档CompanyasaDirectorasspecifiedintheNoticegiveninaccordancewithClause4.1.1(i)orispromptlyremovedfromhis/herofficeasaDirectorasspecifiedintheNoticegiveninaccordancewithClause4.1.1(ii),ineachcaseinaccordancewiththeArticles.(iv)TheCompanyshallindemnifyandholdharmlesstheDirectorsagainstanyLossesincurredinconnectionwithorarisingoutoftheperformanceorexGecutionoftheirdutiesastheDirectors,exGceptforLossesincurredasaresultofsuchDirector’sfraud,badfaith,wilfulmisconductorgrossnegligence.4.2ChairmanOneoftheMajorShareholders’DirectorsshallbeelectedasthechairmanoftheBoardbyamajorityoftheDirectors.4.3Boardmeetings4.3.1BoardmeetingsshallbeheldatleastonceeveryquarterfollowingtheCompletionDate.AdditionalBoardmeetingsshallbeconvenedbytheChairmanoftheBoardpromptlyonreceiptofarequestbyanyDirector.Atleastten(10)BusinessDays’writtennoticeshallbegiventoeachoftheDirectorswithrespecttoallBoardmeetings(exGceptifthereareexGceptionalcircumstancesorifallDirectorsentitledtovoteattheBoardmeetingunanimouslyagreetoashorternotice).Withoutprejudicetotheforegoing,thePartiesshallusereasonable7A版优质实用文档19[重点实用参考文档资料]ExecutionVersion7A版优质实用文档endeavourstoprocurethatasmuchadvancenoticeofBoardmeetingsaspossibleshallbegiventoeachoftheDirectors.4.3.2ADirectormayparticipateinanyBoardmeetingbytelephoneorothermeansoftelecommunication.4.3.3EachnoticeofBoardmeetingshallbeprovidedtoeachoftheDirectorsandshall:(i)specifyareasonablydetailedagenda;(ii)beaccompaniedbyanyrelevantpapers;and(iii)besentbycourier,facsimiletransmissionoremail.4.3.4ThequorumataBoardmeetingofanyoftheGroupCompaniesshallbethree(3)directorsincludingatleastoneInvestorDirectorandoneMajorShareholders’Directorpresentinperson,byproxGyorbytelephoneorothermeansoftelecommunication.IfaquorumisnotpresentwithinanhourofthetimeappointedfortheBoardmeetingorceasestobepresent,theDirector(s)presentshalladjourntheBoardmeeting(“FirstAdjournedBoardMeeting”)tothesamelocationatatimebeingforty-eight(48)hoursfromthepointatwhichtheoriginalscheduledBoardmeetingcommencedorceasedtobequorate.IfaquorumisnotpresentwithinanhourofthetimeappointedfortheFirstAdjournedBoardMeetingorceasestobepresent,theDirector(s)presentshalladjourntheFirstAdjournedBoardMeetingforasecondtimetoaspecifiedplace(“SecondAdjournedBoardMeeting”)andatatimenotlessthantwo(2)7A版优质实用文档20[重点实用参考文档资料]ExecutionVersion7A版优质实用文档BusinessDaysnormorethanfive(5)BusinessDaysafterthedateoftheFirstAdjournedBoardMeeting.ThequorumattheSecondAdjournedBoardMeetingshallbeanytwoDirectors.4.3.5BoardmeetingsshallbechairedbytheChairman.IftheChairmanisnotpresentatanyBoardmeeting,theDirectorspresentmay,byamajorityofthevotes,electanyoneoftheDirectorspresentintheBoardmeetingtoactasChairmanforthepurposeoftheBoardmeeting.4.3.6AtanyBoardmeeting,eachoftheDirectorspresentshallhaveonevote,savethatifanyDirectorisabsentfromanyBoardmeeting,he/shemay,inaccordancewiththeArticles,appointanyoneoftheDirectorspresentatsuchBoardmeetingashis/herproxGywhoshallbeentitledtoexGercisehis/hervote.AnyoneoftheDirectorsispermittedtobeappointedasproxGybymorethanoneDirectorwhoisabsentfromtheBoardmeeting.TheChairmanshallnothaveacastingorsecondvote.4.3.7AllbusinessarisingatanyBoardmeetingshallbedeterminedbyresolutionpassedbyamajorityofthevotescastbytheDirectorspresentsubjectalwaystoClause5.4.3.8AnyDirectormayvoteonamatterandbetakenintoaccountforthepurposesofaquorumevenifhe/sheisinterestedinthatmatter(butwithoutprejudicetohis/herobligationsundertheArticlestodeclarehis/herinterest).7A版优质实用文档21[重点实用参考文档资料]ExecutionVersion7A版优质实用文档4.3.9TheShareholdersshallusetheirreasonableendeavourstoensurethattheDirector(s)appointedbythemattend(s)Boardmeetings.4.3.10WheretheproposalsoftheBoardhavebeendeliveredtoallDirectorsandtheDirectorswhohavesignedandapprovedsuchproposalshavereachedthequorumandmajorityformakingresolutionsandhavebeensignedandapprovedbyatleastoneInvestorDirectorandoneMajorShareholders’Director,theseproposalsshallbecometheresolutionsoftheBoardandcomeintoeffect.Inthisregard,noseparatemeetingoftheBoardshallbeconvened.4.4DirectorsoftheGroupCompaniesEachoftheFoundersandtheMajorShareholdersundertakestotheInvestorthatitshall,upontheInvestor’srequestinwriting,procuretheappointmentofatleast2candidatesnominatedbytheInvestortotheboardofdirectorsofeachoftheGroupCompanies.EachoftheFoundersandtheMajorShareholdersfurtherundertakestotheInvestorthatitshallprocurethattheInvestorshallhavethesamerightsinrelationtotheboardofdirectors(orsimilargoverningbody)ofeachoftheGroupCompaniessetoutintheprovisionsinClauses4.1to4.3andClause5ofthisAgreementandshallprocuretherelevantGroupCompaniestoamendtheirrespectivearticlesofassociationsaccordingly.4.5RighttoNominateDirectorsincaseofChangetoEquityRatiointheCompany7A版优质实用文档22[重点实用参考文档资料]ExecutionVersion7A版优质实用文档4.5.1Notwithstandingtheaboveprovisions,(i)iftheInvestorholdsmorethan50%butequaltoorlessthan70%ofthesharesoftheCompany,thentheInvestorshallhavetherighttonominatethechairmanoftheBoard,andthenumberofDirectorstheInvestorisentitledtonominateshallbeadjustedtothree(3)andthenumberofDirectorstheMajorShareholdersareentitledtonominateshallbeadjustedtotwo(2);(ii)ifeithertheInvestorortheMajorShareholders(“XGShareholder”)holdsmorethan70%butequaltoorlessthan90%ofthesharesoftheCompany,thenthenumberofDirectorstheXGShareholderareentitledtonominateshallbeadjustedtofour(4)andthenumberofDirectorsotherShareholdersisentitledtonominateshallbeadjustedtoone;and(iii)ifeithertheInvestorortheMajorShareholders(“YShareholder”)holdsmorethan90%ofthesharesoftheCompany,thenYStockholdershallbeentitledtonominateallDirectorsoftheBoardand.4.5.2ThenumberofdirectorstheInvestorandtheMajorShareholdersareentitledtoappointtoboardofdirectorsofeachoftheGroupCompaniesshallbeadjustedinaccordancewithClause4.5.1above.4.6Boardcommittees4.6.1TheBoardshallestablishthefollowingBoardcommittees:(i)theAuditCommittee;(ii)theIPOCommitteewhennecessary;(iii)theStrategyDevelopmentCommittee;7A版优质实用文档23[重点实用参考文档资料]ExecutionVersion7A版优质实用文档(iv)suchotherBoardcommitteesasitseesfit.4.6.2EachoftheBoardcommitteesshallcompriseatleastthreemembers.TheAuditCommitteeshallbechairedbyanInvestorDirectorandthemajorityofthemembersoftheAuditCommitteeshallcompriseInvestorDirectorsorsuchPersonsnominatedbytheInvestorwithatleastoneMajorShareholders’Director.TheIPOCommitteeandStrategyDevelopmentCommitteeshallbechairedbyaMajorShareholders’DirectorandthemajorityofthemembersoftheIPOCommitteeandStrategyDevelopmentCommitteeshallcompriseMajorShareholders’DirectorswithatleastoneInvestorDirector.4.6.3TheroleoftheAuditCommitteeshallincludereviewingandmakingrecommendationstotheBoardonmattersofaccountingpoliciesandtreatment,internalcontrols,appointmentofAuditorsandthebudgetoftheGroupcorporategovernance-relatedmatters.4.6.4TheroleoftheIPOCommitteeshallincludereviewingandmakingrecommendationstotheBoardonmattersinconnectionoftheIPOandmonitoringcompliancebytheCompanywithListingRulesandotherapplicablelawsandregulationswithregardtoIPO.4.6.5TheroleoftheStrategyDevelopmentCommitteeshallincludereviewingandmakingrecommendationstotheBoardonmattersofbusinessoperationoftheGroup,anyproposedmergerandacquisitionactivitiestobeconductedbyorinvolvedanyoftheGroupCompanies,anyproposedmajorcapitalexGpenditure.TheCompany7A版优质实用文档24[重点实用参考文档资料]ExecutionVersion7A版优质实用文档shallprocuretheKeyManagerstomeetwiththeStrategyDevelopmentCommitteeonamonthlybasistoreportonkeymanagementmatters.4.7DisclosurebyDirectorsAnyDirectorshallbeentitledtodisclosetohis/herappointersuchinformationconcerningtheCompanyashe/sheseesfittotheexGtentnotinconsistentwiththefiduciarydutieswhichhe/sheowestotheCompany.4.8IndemnityandReimbursementAnyShareholderremovingaDirectorinaccordancewiththisClause4shallberesponsibleforandshallindemnifytheotherShareholdersandtheCompanyfromandagainstanyLosseswhichmaybeincurredbytheotherShareholdersortheCompanyarisingoutofanyclaimsmadebysuchDirectoragainstanyShareholderortheCompanyinconnectionwithhis/herremoval.TheCompanyshallreimbursetheDirectorsforthereasonabletravelandaccommodationexGpensesassociatedwiththeperformanceoftheirdutieshereunder.4.9LiabilitiestotheDirectorsTherights,obligationsandtheliabilitiesofthedirectorsoftheGroupCompaniesshallbesubjecttotheArticles.IntheeventanyFoundertakesthepositionasthedirectoroftheGroup,thesaidFounder’s7A版优质实用文档25[重点实用参考文档资料]ExecutionVersion7A版优质实用文档liabilitiesforanybreachofhis/herdirector’sobligationsunderthisAgreementshallbegovernedbytherelevantclausesfortheliabilitiesofthedirectorsundertheArticles.5ReservedMatters5.1ReservedmattersNotwithstandinganyotherprovisionsofthisAgreementorthearticlesofassociationofeachoftheGroupCompanies,priortothedateoftheIPO,eachoftheFounders,theMajorShareholdersandtheCompany(asthecasemaybe)shallprocurethatnoBoardresolutionistakenbytheCompanyoritsAffiliatesinrespectofanyofthefollowingmatters(collectively,“ReservedMatters”)withoutthepriorwrittenconsentofatleastoneofthedirectoroftheGroupCompanynominatedbytheInvestorandoneMajorShareholders’Director.TheInvestorDirectorandMajorShareholders’DirectorshallreplyinwritingtotheGroupCompanies’NoticeoftheReservedMatterswithinfour(4)BusinessDaysuponthereceiptoftheNotice:5.1.1anyformofreorganisationofanyoftheGroupCompanies,including,withoutlimitation,amalgamation,reconstruction,merger,consolidationoranyothertransactioninwhichcontroloftheanyoftheGroupCompaniesistransferred;5.1.2thewinding-uporliquidationofanyoftheGroupCompanies;7A版优质实用文档26[重点实用参考文档资料]ExecutionVersion7A版优质实用文档5.1.3anytransaction(acquisitionorsale)involvingassetsorpropertyofatotalvaluepertransactionoraseriesofsimilartransactionsofmorethanUS$1,000,000;5.1.4anychangeinorredemptionofthesharecapitalofanyoftheGroupCompaniesorthecreation,allotmentorissueofanysharesorofanyothersecurityofanyoftheGroupCompaniesorthegrantofanyoptionorrightstosubscribeforortoconvertanyinstrumentintosuchsharesorsecurities;5.1.5anyamendmenttothisAgreement,thememorandumandarticlesofassociationoftheCompany,ortoshareholders’agreement(ifany)orthememorandumorarticlesofassociationofanyotherGroupCompanies;5.1.6anyamendmenttoterminationoforpermittoexGpireanyoftheagreementslistedintheRestructuringMemorandum;5.1.7anychangetothesize,compositionorpowersoftheBoardortheboardofdirectorsofanyotherGroupCompanies;5.1.8theborrowing(orincurringofindebtednessinthenatureofborrowings)byanyoftheGroupCompaniesofanamountmorethanUS$1,000,000;5.1.9thepaymentordeclarationofanydividendorotherdistributionby,oranychangetothedividendordistributionpolicyof,anyoftheGroupCompanies;7A版优质实用文档27[重点实用参考文档资料]ExecutionVersion7A版优质实用文档5.1.10anyrelatedpartytransactionsbetweenanyoftheGroupCompaniesandtheFoundersorPersonsControlledbytheFounders,unlessotherwiseapprovedintheBusinessPlanorBudget;5.1.11theadoptionofandanysubsequentmaterialamendmenttoanyBusinessPlanorBudget;5.1.12anyexGpansionoforchangetothenatureorgeographicalareaoftheBusinessortheGroupcarryingonanybusinessotherthantheBusiness;5.1.13thegivingofanyguaranteeofobligationsoverUS$150,000byanyoftheGroupCompanies;5.1.14theapprovaloforamendmenttoanystockoptionplanorgrantingofanyoption(includingtheESOPs);5.1.15theappointmentoftheseniorexGecutives(includingchiefexGecutiveofficer,chieffinancialofficer,chieftechnologyofficerandchiefoperatingofficer,etc.)and/orconsultantsofanyoftheGroupCompaniesandanychangethereof;5.1.16anymaterialdecisions(includingbutnotlimitedto,thedefinitionofanIPO,determinationoftheIPOprocessandEligibleExGchange,anydisclosureandthecontentintheprospectusforsuchproposedIPO)relatingtotheproposedIPOofanyoftheGroupCompanies;5.1.17theapprovalorauthorizationofanyunbudgetednon-operatingexGpensesinanysingletransactionoverUS$500,000;7A版优质实用文档28[重点实用参考文档资料]ExecutionVersion7A版优质实用文档5.1.18theentryintoanycontractswithtermexGceedingthree(3)yearswithatransactionvalueoverUS$one(1)million;andanyothermattersasagreedbytheParties;and5.1.19anyamendmenttothethree(3)operationalagreements(the“OperationalAgreements”)aftertheirdulyexGecution,theinitialdraftsofwhicharelistedasSchedule2,3and4tothisAgreementforreference.ThedraftsoftheOperationalAgreementslistedasSchedulesheretoaresubjecttofurtheramendmentamongGroupCompaniesandshallbeexGecutedwithinreasonableperiodoftimeaftertheCompletion.Aseriesofsubstantiallyrelatedtransactionsshallbeconstruedasasingletransaction,forthepurposesofClauses5.1.3,5.1.8,5.1.13,5.1.17and5.1.18.6ManagementoftheCompany6.1Seniormanagement6.1.1ThechiefexGecutiveofficeroftheCompany(“CEO”)immediatelyafterCompletionshallbeMr.WeiYewhosepowersandfunctionsshallbedeterminedbytheBoard.TheCEOshallberesponsiblefortheday-to-dayoperationoftheGroupCompaniesandshallreporttotheBoard.6.1.2ForaslongastheInvestori)ownsnolessthan4500ordinarysharesofthetotalissuedsharesoftheCompany;andii)theInvestor’sshares7A版优质实用文档29[重点实用参考文档资料]ExecutionVersion7A版优质实用文档isnotlessthan23%ofthetotalissuedshareoftheCompanyexGcludingtheimpactofdilutionduetotheissuanceofthestockoptionsaccordingtotheESOPunanimouslyapprovedbytheBoard,theInvestorshallhavetherighttorecommendtheheadofficialsofBusinessDivisionandTechnicalDivisionoftheCompanyandallGroupCompanies.Thesaidheadofficials,whichintheconditionofbeingrecommendedbyInvestor,shallbeappointedbytheBoardofeachoftheGroupCompaniesaftergoingthroughthestandardcandidates’recruitingprocessoftheCompanyorGroupCompanies.Thestandardcandidates’recruitingprocessoftheCompanyorGroupCompaniesshallbegenerallystipulatedasbelow:(i)appliedcandidates;(ii)oralandwrittentests;(iii)CEO’sinterview;(iv)boarddecision(forseniormanagementonly);(v)theprobationperiod(uptothree(3)months);(vi)employmentdecision;and(vii)regularevaluation(3~6months).IfthecandidatesrecommendedbytheInvestordonotpasstheforegoingrecruitingprocess,theInvestorreservestherighttorecommendothercandidatesfortheheadofficialsofBusinessDivisionandTechnicalDivisionoftheCompanyandallGroupCompanies.Inanyevent,headofficialsoftheBusinessDivisionandtheTechnicalDivisionoftheCompanyandtheGroupCompaniesshallbeemployedamongthecandidatesrecommendedbytheInvestorwhohavepassedtheaboverecruitingprocess.7A版优质实用文档30[重点实用参考文档资料]ExecutionVersion7A版优质实用文档6.1.3TheheadofficialsinClause6.1.2shallreporttoCEOdirectlyandtheroleandresponsibilitiesofthesaidheadofficialsshallbedefinedasSchedule5JobDescriptionoftheHeadOfficials.6.1.46.1.56.1.66.1.76.1.8AfterappointingthesaidheadofficialsrecommendedbytheInvestorpursuanttotheaboveClauses6.1.2and6.1.3,theCompany,ortheGroupCompany,shallexGecuteaserviceagreementwiththesaidheadofficialsandaHRleaseagreementswithInvestorregardingsuchpersonnel.TheHRleaseagreementshallclearlystipulatethatthesalaryofthesaidheadofficialsshallbepaidbyInvestor,whoindependentlybearsthewithholdingliabilityofthesaidheadofficials’individualincometaxGandanyotherliabilitythereon.TheCompanyortheGroupCompanywouldpaytothesaidheadofficialstheservicefeeswithreferencetothesamerank’spersonnel’ssalaryinCompany,ortheGroupCompanyaccordingtoaserviceagreementwiththeheadofficials.TheamountofthesalarypaidbyInvestortothesaidheadofficialsshallbethedifferencebetweentheoriginalsalarypaidbyInvestortoitsownemployeesandtheservicefeespaidbytheCompany,ortheGroupCompany.6.1.97A版优质实用文档31[重点实用参考文档资料]ExecutionVersion7A版优质实用文档6.1.106.1.116.1.126.2Day-to-daymanagementExGcepttotheexGtentexGpresslyprovidedinthisAgreementandsubjecttoapplicablelaws,theaffairsoftheCompanyandtheBusinessshallbemanagedbytheBoard,whichshallatalltimesactinwhatitbelieves(ingoodfaith)tobeinthebestinterestsoftheCompany.6.3AccountsandauditThereportsandaccountsoftheGroupshallbedrawnupinaccordancewithIFRSandshallbeauditedbytheAuditorseveryfinancialyear.Notwithstandingtheabove,theInvestorshallhavetherighttoengageanoutsideauditoratitsowncoststoauditthebooksandaccountsoftheCompanyandtheGroupCompaniesduringbusinesshoursoftheCompany(ortheapplicableGroupCompany)onceeachfiscalyear.TheCompanyshall,andtheMajorShareholdersandtheFoundersshallprocuretheCompany(ortheapplicableGroupCompany)tofacilitatesuchauditandcooperatewithsuchauditor,providedthattheauditorshallminimizeanyinterferencewiththe7A版优质实用文档32[重点实用参考文档资料]ExecutionVersion7A版优质实用文档dailyoperationoftheCompany(ortheapplicableGroupCompany)inthecourseoftheaudit.7DistributionPolicySubjecttotheapplicableListingRulesandwithoutprejudicetoClause5.1.8,thedeclarationand/ordistributionofthedividendsoftheCompanyshallbeunanimouslyapprovedbytheBoard.8TransfersofShares8.1TransferrestrictionsWhereMr.YeWeiproposestotransferhissharesintheCompanythroughtherelevantMajorShareholderortransferhissharesintherelevantMajorShareholder(whethertoanyoftheotherFoundersortoanythirdparty)sothathisdirectand/orindirectshareholdingsintheCompanythroughtherelevantMajorShareholderwillbelessthan60%ofhisshareproportionasofthedateofCompletionpriortotheclosingofQualifyingIPO,suchtransfershallbesubjecttopriorwrittenapprovalbytheInvestor(intheirsolediscretion).8.2Rightoffirstrefusal;Tag-alongrights8.2.1WhereanyShareholderproposestotransferitsOrdinarySharesintheCompanyand/oranyFounderproposestotransferitssharesintheMajorShareholdertoabonafidethirdparty(forpurposesofthisClause8,suchPartyshallbethe"TransferringParty";suchsharesintheCompanyortheMajorShareholdershallbe“OfferedShares”and7A版优质实用文档33[重点实用参考文档资料]ExecutionVersion7A版优质实用文档suchbonafidethirdpartyshallbethe“ProspectiveTransferee”),theTransferringPartyshallgivetheotherPartiesawrittennotice(“TransferNotice”),settingforththenameandaddressoftheProspectiveTransferee,theamountoftheOfferedShares,theproposedtransferdate,theproposedamountandformofconsiderationandothermaterialtermsandconditionsconcerningtheOfferedShares.8.2.2IftheTransferringPartyisanyFounderorMajorShareholder,withintwenty(20)BusinessDaysuponthereceiptoftheTransferNotice,eachFounderand/orMajorShareholdershallathisoptionandbywrittennoticetotheTransferringParty,havearightoffirstrefusal(the“FirstRefusalRight”)topurchasetheOfferedSharespro-rateorotherwiseagreedamongthemonthesametermsandconditionsofferedtotheProspectiveTransferee.Foravoidanceofdoubt,ifanyFounderand/orMajorShareholderfailtoexGercisehispre-emptiveright,theFounder(s)and/orMajorShareholdersexGercisinghis/theirFirstRefusalRightmaypurchasetheremainingOfferedSharespro-rateorotherwiseagreedamongthem.IfalltheFoundersand/orMajorShareholdersfailtoexGercisetheFirstRefusalRightwithrespecttoanyOfferedSharesunderthisAgreement,theTransferringPartyshallimmediatelygiveawrittennoticeofsuchfailure(the“OverallotmentNotice”)toInvestor,andthentheInvestorshallhavetheright,foraperiodoftwenty(20)BusinessDaysafterreceiptoftheOverallotmentNotice,topurchasealltheremainingOfferedShares7A版优质实用文档34[重点实用参考文档资料]ExecutionVersion7A版优质实用文档pro-rateorotherwiseagreedamongthemonthesametermsandconditionsofferedtotheProspectiveTransferee(the“SecondaryRefusalRight”).8.2.3IftheTransferringPartyistheInvestor,withintwenty(20)BusinessDaysuponthereceiptoftheTransferNotice,eachFounderand/orMajorShareholdershallathisoptionandbywrittennoticetotheTransferringParty,havearightoffirstrefusal(the“FirstRefusalRight”)topurchasetheOfferedSharespro-rateorotherwiseagreedamongthemonthesametermsandconditionsofferedtotheProspectiveTransferee.Foravoidanceofdoubt,ifanyFounderand/orMajorShareholderfailstoexGercisehispre-emptiveright,theFounder(s)and/orMajorShareholdersexGercisinghis/theirFirstRefusalRightmaypurchasetheremainingOfferedSharespro-rateorotherwiseagreedamongthem.8.2.4Withintwenty(20)BusinessDaysuponthereceiptoftheTransferNotice,eachoftheShareholdersshallatitsoptionandbywrittennoticetotheTransferringParty,haveatag-alongright(butnottheobligation)toelecttosellitsOrdinarySharesintheCompany(initssolediscretion)onthesametermsandconditionsofferedtotheProspectiveTransferee,uptoapercentagewhichistheratiooftheOrdinarySharesindirectlyattributabletotheOfferedSharesinrelationtothetotalsharesoftheCompanyissuedandoutstandingatthetime.7A版优质实用文档35[重点实用参考文档资料]ExecutionVersion7A版优质实用文档8.2.5TheTransferringPartyandthePart(ies)exGercisingtheFirstRefusalRightorSecondaryRefusalRightorthetag-alongright(asthecasemaybe)undertaketotakeallactionsnecessarytoprocurethecompletionofanytransactioncontemplatedinClauses8.2.2,8.2.3and8.2.4(asapplicable).Foravoidanceofdoubt,theOrdinarySharesunderatag-alongrightshallbeconsideredtheOfferedSharesandbesubjecttotheFirstRefusalRightand/orSecondaryRefusalRightforpurchasebytheotherShareholders.8.2.6TherightssetoutinthisClause8.2shallterminateupontheclosingofaQualifyingIPO.9Anti-Dilution9.1WithoutprejudicetoClause5,theCompanyshallnot,andeachoftheShareholdersshallexGerciseitsrightsasaShareholderoftheCompany(ifapplicable)soastoensurethattheCompanyshallnot,issueanyadditionalShareEquivalenttoanyPersonunlessthereshallbeanyShareEquivalentsnottakenupbytheexGistingholdersofShareEquivalents(“ExGistingHolders”)uponthecompletionofthefollowingsteps:9.1.1theCompanyhasfirstmadeanofferinwriting(the“Pre-emptionOffer”)totheExGistingHoldersonapro-ratabasis,onthesameormorefavourableterms,thoseShareEquivalents;7A版优质实用文档36[重点实用参考文档资料]ExecutionVersion7A版优质实用文档9.1.2theExGistingHoldersmayelecttoacceptthePre-emptionOfferinwholeorinpart,orrejectthePre-emptionOffer,bywrittennoticetotheCompanywithin30BusinessDaysafterthePre-emptionOffer;9.1.3theCompanyfurtherofferssuchremainingShareEquivalentswhichhavebeenrejectedorhavenotbeenfullyacceptedbytheExGistingHolders(the“RemainingShareEquivalents”)totheacceptingExGistingHoldersonapro-ratabasis;and9.1.4suchExGistingHoldershavenotgivennoticetotheCompanyoftheiracceptance,orhavegivennoticeoftheirrejection,oftheRemainingShareEquivalentswithin30BusinessDaysfromthedateoftheirreceiptoftheofferoftheRemainingShareEquivalents.9.2IfanyExGistingHolderacceptsthePre-emptionOffer,inwholeorinpart,theCompanyshallissuetheShareEquivalentsthesubjectoftheacceptancetosuchExGistingHolderatthesametimeasitsissueofShareEquivalentstothePersonreferredtoinClause9.1.9.3IftheCompanyhasnotissuedanyShareEquivalenttoanyPersonwithin90BusinessDaysfromthedateofthePre-emptionOffer,thentheCompanyshallnotbeentitledtoissuesuchShareEquivalentswithoutagaincomplyingwiththeprovisionsofClause9.1.9.4WithoutpriorwrittenconsentoftheInvestor,theCompanyshallnotissueorallotanyShareEquivalenttoanyPerson(otherthantheInvestor)ontermsmorefavourablethanthosesetoutinthe7A版优质实用文档37[重点实用参考文档资料]ExecutionVersion7A版优质实用文档SubscriptionAgreement(whichisdeterminedatthesolediscretionoftheInvestor).9.5ESOPTheCompanyshallreservecertainstockoptionaccordingtoESOPaftertheCompletion.TheESOPoftheCompanyshallbeapprovalsubjecttoaunanimousapprovaloftheBoardoftheCompany.ItwasagreedthatMr.KinWahChanandMr.XGinshengXGushallbeexGcludedfromtheESOPpriortothedateoftheIPO,however,theESOPshallapplytoMr.WeiYeprovidedthatheshallnotbeentitledtovotingrightsinrespectofsuchsharesacquiredbyhimunderESOP.10Non-competitionUndertaking10.1RestrictionsonFoundersandMajorShareholdersEachoftheFoundersandtheMajorShareholdersundertakeswiththeInvestorthatnoFounders,MajorShareholdersortheirAffiliateswillandwillprocureanyperson,firmorcompanycarryingon,withouttheconsentorprivityofanyGroupCompany,anybusinessinsuccessiontotheGroupCompanyconcernedinanyRelevantCapacityduringtheRestrictedPeriod:10.1.1directlyorindirectlycarryon,beengagedinorbeeconomicallyinterestedinanybusinesswhichisofthesameorsimilartypetotheBusinesswhichisorislikelytobeincompetitionwiththeBusiness;7A版优质实用文档38[重点实用参考文档资料]ExecutionVersion7A版优质实用文档10.1.2incompetitionwiththeBusiness,canvassorsolicitthecustomofanyperson,firmorcompanywhohaswithintwo(2)yearspriortoCompletionbeenacustomerofanyGroupCompanyinrelationtothebusinessoftheGroup;or10.1.3induceorseektoinduceanypresentRestrictedEmployeetobecomeemployedwhetherasemployee,consultantorotherwisebyanyGroupCompanyoftheGroup,whetherornotsuchRestrictedEmployeewouldtherebycommitabreachofhiscontractofservice.10.2ReasonablenessofrestrictionsEachoftheFoundersandtheMajorShareholdersagreesthattherestrictionscontainedinthisClause10arenogreaterthanisreasonableandnecessaryfortheprotectionoftheinterestsoftheInvestorbutifanysuchrestrictionshallbeheldtobevoidbutwouldbevalidifdeletedinpartorreducedinapplication,suchrestrictionshallapplywithsuchdeletionormodificationasmaybenecessarytomakeitvalidandenforceable.10.3InterpretationThefollowingtermsshallhavethefollowingmeaningsrespectivelyinthisClause10:10.3.1“RelevantCapacity”meansforitsownaccountorforthatofanyperson,firmorcompanyorasprincipal,partner,director,employee,consultantoragent.7A版优质实用文档39[重点实用参考文档资料]ExecutionVersion7A版优质实用文档10.3.2“RestrictedEmployee”meansanyRelevantEmployeewho(a)takesthepositionofthekeymanagementoftheGroupandhasaccesstotradesecretsorotherconfidentialinformationoftheGroup;or(b)hasparticipatedindiscussionsrelatingtotheTransactionDocuments;10.3.3“RestrictedPeriod”meanstheperiod,intermsofeachoftheMajorShareholders(togetherwithitscorrespondingFounder),commencingonCompletionandendinguponthedate(andincluding)ofoneyearfromthedateonwhichthesaidMajorShareholderdoesnotholdanyequityinanyoftheGroupCompanies.10.3.410.3.510.3.610.3.710.4RestrictionsonInvestor10.4.1DuringtheperiodbeginningonthedateofthisAgreementandendingonthedateuponwhichtheInvestorceasestohaveanyequityownershipinterestintheCompany,theInvestorundertakestotheFounders,MajorShareholdersandtheCompanythatitshall,andshallprocureitsSubsidiaries(asdefinedbelow),notinvestinorincreaseitsexGistedinvestment7A版优质实用文档40[重点实用参考文档资料]ExecutionVersion7A版优质实用文档inanyChina-basedonlinegamepublishingbusinesscompany(“ObjectCompany“)whichwillbecometheAffiliateofInvestoraftertheinitialinvestmentoreventuallyaftersubsequentinvestmentsbyInvestororitsSubsidiaries,unlessotherwiseunanimouslyapprovedbytheBoardoftheCompanyinadvance.WithoutprejudicetotheinterpretationunderClause1,thetermof“Affiliate”incapitalizedforminthisspecificclauseof10.4.1shallrefertoanyObjectCompanycontrolledorpartlycontrolledbyInvestorthroughthefollowingmanners:i)havingoneormorethanoneseatintheboardofdirectorsoftheObjectCompany;ii)havingtherighttoappointanypositionofseniormanagement(abovevicepresident)oftheObjectCompany;oriii)holdingcertainshareoftheObjectCompanywithanycontractualrightstodeterminethebusinessstrategyandbusinessplanorinvolveindailymanagementandoperationoftheObjectCompany.Forthepurposeofthisclause,theterm“Subsidiaries”shallmeananycompanyorotherentitywhichisdirectlyorindirectlycontrolledbytheInvestor;providedthat,suchentityshallbeconsideredaSubsidiaryonlyforthetimeduringwhichsuchcontrolexGists,where“control”shallmean,forthepurposeofthisclause,i)ownershiporcontrolofmorethan50%ofvotingsecuritiesofsuchentityorii)ownershiporcontroloflessthan50%ofvotingsecuritiesofsuchentityatasofthedateofthisAgreementbut7A版优质实用文档41[重点实用参考文档资料]ExecutionVersion7A版优质实用文档subsequentlyincreasetomorethan50%inthevalidtermofthisAgreement.TheInvestorfurtherundertakesitshallexGclusivelycooperatewiththeFounders,MajorShareholdersandtheCompanyinon-linegamepublishingbusinessinPRC.AnyproposedinvestmentbyInvestorinon-linegamebusinessotherthanonlinegamepublishingbusinesscompanyinPRC(“TargetCompany”),whichisdeemedpotentiallybeneficialtotheCompany’sbusiness,shallbediscussedwithintheBoardmeetingoftheCompany.WithrespecttotheinvestmentdiscussedwithintheBoardmeetingoftheCompany,theInvestorshallnotifytheBoardoftheCompanyatleastfour(4)weeksbeforeanyfinalinvestmentagreementissigned.WiththeapprovaloftheBoard,theCompanyhastherightstojointlyinvestinsuchbusinesswithInvestor.Notwithstandingtheforegoing,theInvestorshallnotbeobligedtonotifytheCompanyandtheFoundersif:i)theInvestorwillownlessthan10%equityoftheTargetCompanyfromsuchinvestment;ii)theInvestorwillnothaveanyseatintheboardoftheTargetCompany;andiii)theInvestorwillnothaveanycontractualrightstodeterminethebusinessstrategyandbusinessplanorinvolveinthedailymanagementoftheTargetCompany.7A版优质实用文档42[重点实用参考文档资料]ExecutionVersion7A版优质实用文档10.4.2WithrespecttotheimporttoPRCmarketofanysubsequentversionoftheonlinegameproducts(includingdatafile,updatedcontents)whichhavebeen,orwillhavebeen,licensedbytheInvestor(oritsSubsidiaries)totheCompany(the“SubsequentVersion”),theInvestorshallgivetheCompanyawrittennotice(“ImportNotice”),settingforththedetailsoftheSubsequentVersion,thenameandaddressoftheproposedimporters,theproposedimportedmarket,formofconsiderationandothermaterialtermsandconditionsconcerningtheSubsequentVersion.TheInvestorundertakestotheFounders,MajorShareholdersandtheCompanythattheGroupCompanyshallhavetherightoffirstoffertopurchaseandimporttoChinamarkettheSubsequentVersiononthesameorfavourabletermsandconditionsofferedtotheprospectiveimporters.Foravoidanceofdoubt,ifalltheGroupCompaniesfailtoexGercisetheirpre-emptiverighthereof,i.e.aftertwenty(20)BusinessDaysuponthereceiptoftheImportNotice,theInvestorshallhavetherighttoimporttheSubsequentVersiontotheprospectiveimporters.10.4.37A版优质实用文档43[重点实用参考文档资料]ExecutionVersion7A版优质实用文档10.4.410.4.510.4.611IPO11.1EachofthePartiesunanimouslyagreesthattheobjectiveofthePartiesistoachieveQualifyingIPOassoonasreasonablypracticable.11.2SubjecttoClause11.3,eachPartyshalltakeallactionswithintheirrespectivepowersasisnecessaryorappropriatetoachievetheQualifyingIPOassoonaspossiblefollowingCompletion.11.3NotwithstandingClause11.2,theInvestorshalluseitscommerciallyreasonableendeavourstocooperatewiththeCompanyinsupportoftheQualifyingIPO,includingbutnotlimitedto,recommendingtotheBoardandfacilitatingthecommunicationbetweentheCompanyand,theappropriateinvestmentbanksactingassponsors,dulyqualifiedlegaladvisors,accountants,valuersandotherprofessionaladvisorsinconnectionwiththeQualifyingIPO,subjecttotheQualifyingIPOnotmateriallyprejudicinganyoftherightsoftheInvestorundertheTransactionDocuments(tobedeterminedsolelyatthediscretionoftheInvestor).11.4TherightsandobligationsofthePartiesunderClause5andClause10shallceasetohaveeffectimmediatelypriortotheclosingoftheQualifyingIPO.7A版优质实用文档44[重点实用参考文档资料]ExecutionVersion7A版优质实用文档12Termination12.1EventsofDefaultAParty(the“DefaultingParty”)suffersanEventofDefaultwhereanyofthefollowingeventsoccurinrelationtotheParty:12.1.1itcommitsamaterialbreachofthisAgreementandeither(1)thebreachisnotcapableofbeingremediedor(2)theDefaultingPartydoesnotremedythatbreachwithin30BusinessDaysoftheotherPartiessendingitwrittennoticerequiringittoremedythatbreach;or12.1.2itisunableoradmitsinabilitytopayitsdebtsastheyfalldue,suspendsmakingpaymentsonanyofitsdebtsor,byreasonofactualoranticipatedfinancialdifficulties,commencesnegotiationswithoneormoreofitscreditorswithaviewtoreschedulinganyofitsindebtedness;12.1.3thevalueofitsassetsislessthanitsliabilities(takingintoaccountcontingentandprospectiveliabilities);12.1.4amoratoriumisdeclaredinrespectofanyofitsindebtedness;12.1.5anycorporateaction,legalproceedingsorotherprocedureorstepistaken(oranyanalogousprocedureorstepistakeninanyjurisdiction)inrelationto:(i)[theappointmentofaliquidator(otherthaninrespectofasolventliquidationofanyofitsAssociatedCompanies),receiver,administrator,administrativereceiver,7A版优质实用文档45[重点实用参考文档资料]ExecutionVersion7A版优质实用文档compulsorymanagerorothersimilarofficerinrespectofanyofitsassets;or(ii)enforcementofanysecurityoveranyofitsassets;12.1.6heisdeclaredabankruptedpersonorissubjecttoanyanalogousproceedingunderthelawsofanyjurisdiction;12.1.7heislegallyincapacitatedasaresultofillness,disabilityordeath;or12.1.8itissubjecttoanychangeofControl.12.2NotificationofDefaultIfanEventofDefaultoccurs,theDefaultingPartyshallnotify(“NoticeofDefault”)theotherPartiesassoonasreasonablypracticable.12.3TerminationWhereaMajorShareholderorFoundercommitsanEventofDefault,theInvestor(andonlytheInvestor)shallbeentitledtoterminatethisAgreementwith(14)BusinessDays’priorNoticetoalltheotherPartiesuponthereceiptoftheNoticeofDefault,providedthattheDefaultingPartyhasnotremediedsuchbreach(iftheEventsofDefaultiscapableofbeingremedied)withthirty(30)BusinessDaysfollowingawrittennoticetocurebytheInvestor.WheretheInvestorcommitsanEventofDefault,theMajorShareholders(andonlytheMajorShareholders),actingjointly,shallbeentitledtoterminatethisAgreementwiththirty(30)BusinessDays’priorNoticetoalltheotherPartiesuponthereceiptoftheNoticeofDefault,providedthatthe7A版优质实用文档46[重点实用参考文档资料]ExecutionVersion7A版优质实用文档DefaultingPartyhasnotremediedsuchbreach(iftheEventsofDefaultiscapableofbeingremedied)withthirty(30)BusinessDaysfollowingawrittennoticetocurebytheMajorShareholders.13Founders’Guarantee13.1GuaranteeoftheMajorShareholders’andtheCompany’sObligationsInconsiderationoftheentrybytheInvestorintothisAgreement,providedtheCompanyandtheMajorShareholdershaveexGhaustedallofitsassetstobeartheliabilityunderthisAgreement,theFoundersunconditionallyandirrevocablyguaranteestotheInvestorthedueandpunctualperformanceandobservancebyeachoftheMajorShareholdersandtheCompanyofallitsobligations,commitmentsandundertakingsunderorpursuanttothisAgreement(the“GuaranteedObligations”)andagreestoindemnifytheInvestoragainsttheremainingInvestor’sLossesaftertheCompanyandtheMajorShareholdershavebornetheirliabilities.ThisguaranteeisgivenforthebenefitoftheInvestorandtheirrespectivesuccessorsandassignsandshallbebindingoneachoftheFoundersandhisrespectivesuccessorsandassigns.TheliabilityoftheFoundersundertheClause13shallsubjecttothetermsandconditionscontainedinClause1.2ofthisAgreement.7A版优质实用文档47[重点实用参考文档资料]ExecutionVersion7A版优质实用文档13.2DefaultIfandwheneveranyoftheMajorShareholdersortheCompanydefaultsforanyreasonintheperformanceofanyoftheGuaranteedObligations,eachoftheFoundersshallforthwithupondemandunconditionallyperform(orprocureperformanceof)andsatisfy(orprocurethesatisfactionof)theGuaranteedObligationsinregardofwhichsuchdefaulthasbeenmadeinaccordancewiththisAgreementandsothattheInvestorreceivesthesamebenefitsastheywouldhavereceivediftheGuaranteedObligationhadbeendulyperformedandsatisfiedbytheMajorShareholdersandtheCompanysubjecttotermsandconditionscontainedinClause1.2ofthisAgreement.13.2.1ThisguaranteeisacontinuingguaranteeandremainsinforceuntilalltheGuaranteedObligationshavebeenperformedorsatisfied.13.2.2Thisguaranteeisinadditionto,withoutprejudicetoandnotinsubstitutionforanyrightsorsecuritywhichtheInvestormaynoworafterhaveorholdfortheperformanceandobservanceoftheGuaranteedObligations.13.2.3Anyamountspayableunderthisguaranteeshallbepaidinfullondemandwithoutanydeductionorwithholdingwhatsoever(whetherinrespectofset-off,counterclaim,duties,charges,taxGesorotherwise).7A版优质实用文档48[重点实用参考文档资料]ExecutionVersion7A版优质实用文档13.2.4EachoftheFoundersshallbeliableunderthisClause13asifhewerethesoleprincipalobligorandnotmerelyasasurety.14InformationRights14.1GeneralTheCompanyshallprovide,andeachoftheFounderstogetherwiththeMajorShareholdersshallprocuretheCompanytoprovide,totheInvestorwiththeinformationregardingtheGroupstatedbelowandbythetimestatedbelow:14.1.1anunauditedmonthlyfinancialstatementincludingheadcountandacomparisontomonthlybudgetsinaformattobeproposedbytheInvestorwithinsixGtydaysaftertheendofeachcalendarmonth;14.1.2theauditedfinancialstatementsfromaninternationallyrecognizedaccountingfirm(includingincomestatement,balancesheetandcashflowstatements),andnotesauditedinaccordancewithIFRS,within90calendardaysoftheendoftheFinancialYear;14.1.3minutesoftheboardofdirectorsandshareholders’meetingsoftheGroupCompanieswithinfiveBusinessDaysoftherespectivemeeting;14.1.4promptnotificationofmaterialevents;14.1.5anannualBudgetthirtydayspriortothebeginningofeachfiscalyearandayearlyBusinessPlanincludingabalancesheet,cashflow7A版优质实用文档49[重点实用参考文档资料]ExecutionVersion7A版优质实用文档statementandprofitandlossstatementbeforethebeginningofeachfiscalyear;14.1.6promptlyfurnishtotheInvestorinformationreasonablyrequestedtoenabletheInvestortocomplywithanyTaxGreportingrequirementswithrespecttotheacquisition,ownership,ordispositionof,andincomeattributableto,anyOrdinarySharesorequityinterestheldbytheInvestor,including,without,limitation,suchinformationasmaybereasonablyrequestedbytheInvestortocomplete(ortoprovideinformationtootherstocomplete)RepublicofKoreannationalorlocalincometaxGreturns;and(ii)keep,forsolongasmaybereasonablyrequestedbytheInvestor,suchdocumentationsupportingsuchTaxG-relatedinformationsuppliedtotheInvestorasprovidedherein.14.1.714.1.814.1.914.1.1015Indemnities15.1IndemnitiesEachofthePartiesseverallyundertakestoindemnifytheCompanyand,inthecaseofeveryPartyapartfromtheInvestor,theInvestor,itsrespectivedirectorsandofficersanditsAffiliatesandthedirectors,7A版优质实用文档50[重点实用参考文档资料]ExecutionVersion7A版优质实用文档officers,partners,AffiliatesandControllingPersonsthereofondemandonanafterTaxGbasisagainstLossesincurredbytheCompanyortheInvestorarisingoutoforinconnectionwithanybreachbysuchPartyofthetermsofthisAgreement.15.2TaxGeffectIfanysumpayableunderanyoftheindemnitiesinthisClause15istaxGableinthehandsofthepayee,aftertakingintoaccountanylosses,relievesorexGemptionsavailabletothepayeebyreasonofthecircumstancesgivingrisetoanindemnityobligationunderthisClause15,theamountsopayableshallbeincreasedbysuchamountaswillensurethatthePersontowhompaymentismadewillretain,afterpaymentoftheTaxGchargeable,theamountitwouldhaveretainedhadnosuchTaxGbeenpayable.15.3DeductionsandwithholdingsEachofthePartiesundertakesthatallsumspayableundertheindemnitiescontainedinthisClause15shallbepaidinfull,freeandclearofalldeductionsandwithholdingsunlessthedeductionorwithholdingisrequiredbylaw,inwhicheventtherelevantPartyshallbeobligedtopaysuchadditionalsumaswill,aftersuchdeductionorwithholdinghasbeenmade,leavethePersontowhompaymentismadewiththesameamountasthatPersonwouldhavebeenentitledtoreceiveintheabsenceofsuchdeductionorwithholding.7A版优质实用文档51[重点实用参考文档资料]ExecutionVersion7A版优质实用文档16Confidentiality16.1SubjecttoClauses16.2and19,eachofthePartiesshalltreatasstrictlyconfidentialandnotdiscloseoruseanyinformationreceivedorobtainedasaresultofenteringintothisAgreement(oranyagreemententeredintopursuanttothisAgreement)whichrelatesto:16.1.1theexGistenceandtheprovisionsofthisAgreementandofanyagreemententeredintopursuanttothisAgreement;or16.1.2thenegotiationsrelatingtothisAgreement(andanysuchotheragreements).16.2Clause16.1shallnotprohibitdisclosureoruseofanyinformationifandtotheexGtent:16.2.1thedisclosureoruseisrequiredbylaw,anyregulatorybodyoranyrecognisedstockexGchange;16.2.2thedisclosureoruseisrequiredtovestthefullbenefitofthisAgreementinanyoftheParties;16.2.3thedisclosureoruseisrequiredforthepurposeofanyjudicialproceedingsarisingoutofthisAgreementoranyotheragreemententeredintounderorpursuanttothisAgreementorthedisclosureismadetoataxGauthorityinconnectionwiththetaxGaffairsofthedisclosingparty;16.2.4thedisclosureismadetoprofessionaladvisersoractualorpotentialfinanciersofanyPartyontermsthatsuch7A版优质实用文档52[重点实用参考文档资料]ExecutionVersion7A版优质实用文档professionaladvisersorfinanciersundertaketocomplywiththeprovisionsofClause15.1inrespectofsuchinformationasiftheywereaPartytothisAgreement;16.2.5theinformationisorbecomespubliclyavailable(otherthanbybreachofthisAgreement);or16.2.6theotherPartieshavegivenpriorwrittenapprovaltothedisclosureoruse,providedthat(i)priortodisclosureoruseofanyinformationpursuanttoClause15.2.1,15.2.2or15.2.3exGceptinthecaseofdisclosuretoataxGauthority,thePartyconcernedshallpromptlynotifytheotherPartiesofsuchrequirementwithaviewtoprovidingthatotherPartieswiththeopportunitytocontestsuchdisclosureoruseorotherwisetoagreethetimingandcontentofsuchdisclosureoruse;and(ii)priorwrittenconsentfromtheInvestorshallbeobtainedpriortodisclosureorissueofinformationinvolvingthenamesortrademarksoftheInvestororitsAffiliates.17GoverningLawThisAgreementisgovernedbyandistobeconstruedinaccordancewiththelawsofHongKong.7A版优质实用文档53[重点实用参考文档资料]ExecutionVersion7A版优质实用文档18Arbitration18.1ThePartiesshallusetheirreasonableendeavourstosettleanydispute,controversyorclaiminconnectionwiththisAgreementthroughfriendlyconsultations.18.2ThePartiesirrevocablyagreethatanydisputearisingoutoforinconnectionwiththisAgreementshallbefinallyresolvedbyarbitrationpursuanttoUNCITRALarbitrationrulesasinforceatthedateofthisAgreementandasamendedbytherestofthisClause18.AnyPartymayreferanysuchdisputetoarbitrationtobeconductedinaccordancewiththisClause18ifsuchdisputefailstoberesolvedpursuanttoClause18.1within30BusinessDaysafteranoticeofdisputehasbeenservedinwritingbyaPartyontherelevantPartyorParties.18.3AnyarbitrationcommencedpursuanttoClause18.2shallhaveitsseatinHongKongtobeheldinHKIACconductedinEnglishbyatribunalconsistingofthreearbitratorstobeappointedinaccordancewithClause18.4andbeadministeredbytheHKIAC.18.4UnlessthePartiesagreeotherwise:18.4.1theMajorShareholdersandtheFounders(andtheCompany(ifapplicable))shalljointlyappointonearbitrator;18.4.2theInvestor(andtheCompany(ifapplicable))shalljointlyappointonearbitrator;7A版优质实用文档54[重点实用参考文档资料]ExecutionVersion7A版优质实用文档18.4.3thethirdarbitrator,whoshallactaschairmanofthetribunal,shallbechosenbythetwoarbitratorsappointedbyoronbehalfoftheParties.Ifheisnotchosenbythetwoarbitratorswithinten(10)BusinessDaysofthedateofappointmentofthelaterofthetwoparty-appointedarbitratorstobeappointed,heshallbeappointedbytheHKIAC;and18.4.4arbitralproceedingsshallbeconductedinEnglish.18.5AnyarbitralawardshallbefinalandbindinguponthePartiesandshallbeenforceableinanycourtofcompetentjurisdictioninaccordancewithitsterms.19PublicAnnouncementsNoannouncementconcerningthetermsofthisAgreementortheInvestor’sinvestmentintheCompanyshallbemadeorcausedtobemadebeforeorafterCompletionbyanyPartyotherthanasrequiredbylaworbyanyapplicableregulatoryauthorityorstockexGchange(inwhichcasethePartiesshallconsultwitheachotherontheformoftheannouncement)withoutthepriorwrittenapprovaloftheInvestor.20DurationandTermination20.1Duration7A版优质实用文档55[重点实用参考文档资料]ExecutionVersion7A版优质实用文档SubjecttotheotherprovisionsofthisAgreement,thisAgreementshallcontinueinfullforceandeffectwithoutlimitinpointoftimeuntiltheearlierof:20.1.1eachofthePartiesagreeinginwritingtoterminatethisAgreement;and20.1.2aneffectiveresolutionbeingpassedorabindingorderbeingmadeforthewinding-upoftheCompany,providedthatthisAgreementshallceasetohaveeffectasregardsanyPartywhoceasestobeaPartytothisAgreement,saveforanyofitsprovisionswhichareexGpressedtocontinueinforceaftertermination.Notwithstandingtheabove,thisAgreementshallhavenoforceoreffectuponanyPartywhoceasestohold,directlyorindirectly,anysharesoftheCompanyoranyoftheGroupCompanies,saveforanyofitsprovisionswhichareexGpressedtocontinueinforceaftertermination.20.2TerminationTerminationofthisAgreementshallbewithoutprejudicetoanyliabilityorobligationinrespectofanymatters,undertakingsorconditionswhichshallnothavebeenobservedorperformedbytherelevantPartypriortosuchtermination.7A版优质实用文档56[重点实用参考文档资料]ExecutionVersion7A版优质实用文档21Notices21.1Anynotice,claimordemandinconnectionwiththisAgreementshallbeinwritinginEnglish(eacha“Notice”)andshallbesufficientlygivenifdeliveredorsenttotherecipientatitsusualfaxGnumber,telexGnumberoraddressoranyotherfaxGnumber,telexGnumberoraddressnotifiedtothesenderbytherecipientforthepurposesofthisAgreementandmarked“IMPORTANTLEGALNOTICE”.Wheresenttoarecipient’saddressitmaybesentbymessengerorprepaidpost(airmailinthecaseofinternationalservice).AnyNoticeshallbedeemedtohavebeenreceivedonthenexGtworkingdayintheplacetowhichitissent,ifsentbytelexG,faxGormessenger,orfive(5)BusinessDaysfromthetimeofposting,ifsentbypost.AnyNoticetoanyInvestorshallbedeemedtobegivensufficientlyifgiventotheInvestorinaccordancewiththisClause21.1.21.2IfanyPartydies,untilthePartygivingaNoticehasreceivednoticeinwritingofthegrantofprobateofhisorherwillorlettersofadministrationofhisorherestate(orequivalent),anynoticesogivenshallbeaseffectualasifheorshewerestillliving.21.3DeemedreceiptAnyNoticemaybedeliveredbyhandorsentbyfaxGwithconfirmationreceiptfollowedbyfirst-classmailpostedwithintwentyfour(24)hours,orbyovernightcourier.Withoutprejudicetotheforegoing,anyNoticeshallbedeemedtohavebeenreceivedonthe7A版优质实用文档57[重点实用参考文档资料]ExecutionVersion7A版优质实用文档nexGtBusinessDayintheplacetowhichitissent,ifsentbyfaxG,orfiveBusinessDaysfromthetimeofposting,ifsentbyovernightcourier,oratthetimeofdelivery,ifdeliveredbyhand.22WholeAgreement22.1ThisAgreementandthedocumentsreferredtointhisAgreementconstitutethewholeagreementbetweenthePartiesinrelationtothesubjectmattercoveredandsupersedeanypreviousagreementbetweenthePartiesinrelationtosuchmatters,whichshallceasetohaveanyfurthereffect.Itisagreedthat:22.1.1noPartyhasenteredintothisAgreementinrelianceuponanyrepresentation,warrantyorundertakingwhichisnotsetoutorreferredtointhisAgreement;22.1.2intheabsenceoffraud,noPartywillhaveanyremedyinrespectofanyuntruestatement,madetoitoritsrepresentativesoragents,uponwhichitortheyreliedandsuchParty’sonlyremedywillbeforbreachofcontract;and22.1.3thisClauseshallnotexGcludeanyliabilityforfraudulentmisrepresentation.TheFoundersherebyconfirmthattherearenootheragreementsbetweenanyofthemorbetweenanyofthemandtheCompanyotherthanthisAgreementandanyagreementsreferredtothisAgreement.7A版优质实用文档58[重点实用参考文档资料]ExecutionVersion7A版优质实用文档23General23.1NowaiverofanyprovisionofthisAgreementshallbeeffectiveunlesssetforthinawritteninstrumentsignedbythePartywaivingsuchprovision.NofailureordelaybyaPartyinexGercisinganyright,powerorprivilegehereundershalloperateasawaiverthereof,norshallanysingleorpartialexGerciseofthesameprecludeanyotherorfurtherexGercisethereofortheexGerciseofanyotherright,powerorprivilege.Withoutlimitingtheforegoing,nowaiverbyaPartyofanybreachbyanyotherPartyofanyprovisionhereofshallbedeemedtobeawaiverofanysubsequentbreachofthatoranyotherprovisionhereof.TherightsandremedieshereinprovidedshallbecumulativeandnotexGclusiveofanyrightsorremediesprovidedbylaw.23.2Thewaiver,exGpressorimplied,byanyPartyofanyrightunderthisAgreementoranyfailuretoperformorbreachbyanotherPartyshallnotconstituteorbedeemedawaiverofanyotherrightunderthisAgreement.23.3Noamendment,changeoradditionheretoshallbeeffectiveorbindingonanyPartyunlessreducedtowritingandexGecutedbyallthePartiesforthetimebeing.23.4NothinginthisAgreementshallconstituteorbedeemedtoconstituteapartnershipbetweenthePartiesoranyofthem.23.5TheInvestorandtheirAffiliates(the“Assignor”)mayassignortransferanyorallofitsrightsanddelegateanyorallofits7A版优质实用文档59[重点实用参考文档资料]ExecutionVersion7A版优质实用文档obligationsunderthisAgreementtoanyoftheirrespectiveAffiliates(the“Assignee”)withoutMajorShareholders’priorconsent,provided,however,thattheAssignorandtheAssigneeshallbejointlyliableforAssignor’sobligationsunderthisagreementandtheInvestorshallsendwrittennoticestoMajorShareholdersandFoundersfive(5)BusinessDaysbeforesuchtransfer.NoPartytothisAgreementmayotherwiseassignortransferanyofitsrightsordelegateanyofitsobligationsunderthisAgreementwithouttheexGpresspriorwrittenconsentoftheInvestor.AnypurportedtransferincontraventionofthisClause22.6shallbenullandvoidabinitio.23.6Anyoftherights,powers,discretionsandconsentsoftheInvestorunderthisAgreementmaybeexGercisedeitherbyitsgeneralpartnerorbythemanagementcompanyauthorisedfromtimetotimetoactonitsbehalforbysomeotherPersonorPersonsnominatedbythatInvestorforthetimebeingandsuchmanagerorsuchPersonorPersonsmayenforcesuchrightsdirectlyasifitwereaPartytothisAgreement.23.7ThisAgreementmaybeexGecutedinseveralcounterparts(whetheroriginalorfacsimilecounterparts)and,upondueexGecutionofallsuchcounterpartsbyoneormoreParties,eachcounterpartshallbedeemedtobeanoriginalhereof,andallsuchcounterpartsshalltogetherconstituteoneandthesameinstrument.7A版优质实用文档60[重点实用参考文档资料]ExecutionVersion7A版优质实用文档23.8IfatanytimeanyprovisionofthisAgreementisorbecomesinvalid,illegalorunenforceable,thevalidity,legalityandenforceabilityoftheremainingprovisionsofthisAgreementshallnotbeaffectedorimpairedthereby.23.9ThisAgreementshallbewrittenandinterpretedinEnglish.23.10ThisAgreementshallinuretothebenefitofandbebindinguponthePartiesandtheirrespectiveheirs,successors,legalrepresentativesandpermittedassigns.NothinginthisAgreement,exGpressedorimplied,isintendedtoconferonanyPersonotherthantheParties,andtheirrespectiveheirs,successors,legalrepresentativesandpermittedassigns,anyrights,remedies,obligationsorliabilitiesunderorbyreasonofthisAgreement.23.11EachPartyshallgivesuchfurtherassurance,providesuchfurtherinformation,takesuchfurtheractionsandexGecuteanddeliversuchfurtherdocumentsandinstrumentsasare,ineachcase,withinitspowertogive,provideandtakesoastogivefulleffecttotheprovisionsofthisAgreement.23.12EachPartyheretoshallbearitsowncostsandexGpensesincurredinconnectionwiththenegotiation,preparation,enteringintoandcompletionofthisAgreement.23.1323.147A版优质实用文档61[重点实用参考文档资料]ExecutionVersion7A版优质实用文档23.1523.167A版优质实用文档62[重点实用参考文档资料]ExecutionVersion7A版优质实用文档ThisAgreementisenteredintobyoronbehalfofthePartiesonthedatestatedonthefirstpageofthisAgreement.SIGNEDforandonbehalfofSKTelecomCo.,Ltdinthepresenceof:7A版优质实用文档63[重点实用参考文档资料]ExecutionVersion7A版优质实用文档SIGNEDbyChanKinWah(陈建华)inthepresenceof:7A版优质实用文档64[重点实用参考文档资料]ExecutionVersion7A版优质实用文档SIGNEDbyYeWei(叶伟)inthepresenceof:7A版优质实用文档65[重点实用参考文档资料]ExecutionVersion7A版优质实用文档SIGNEDbyXGuXGinsheng(徐新生)inthepresenceof:7A版优质实用文档66[重点实用参考文档资料]ExecutionVersion7A版优质实用文档SIGNEDforandonbehalfofAimProfitLimitedinthepresenceof:7A版优质实用文档67[重点实用参考文档资料]ExecutionVersion7A版优质实用文档SIGNEDforandonbehalfofLondonTowerHoldingsLimitedinthepresenceof:7A版优质实用文档68[重点实用参考文档资料]ExecutionVersion7A版优质实用文档SIGNEDforandonbehalfofScrutinyInvestmentsLimitedinthepresenceof:7A版优质实用文档69[重点实用参考文档资料]ExecutionVersion7A版优质实用文档SIGNEDforandonbehalfofMagicTechNetworkCompanyLimitedinthepresenceof:7A版优质实用文档70[重点实用参考文档资料]ExecutionVersion7A版优质实用文档Schedule17A版优质实用文档71[重点实用参考文档资料]ExecutionVersion7A版优质实用文档Part1-InvestorNameAddressOrdinaryShareSKTelecomCo.,Ltd11Euljiro2-ga,Jung-gu,Seoul100999,Korea4500Part2-FoundersNameAddressIdentityDocumentandNo.ChanKinWah(陈建华)HouseNo.101HeadlandDrive,HeadlandVillage,DiscoveryBay,HongKongHKID:D289931(1)YeWei(叶伟)Room502,No.56,778Lane,LubanRoad,Shanghai,PRCPRCID:310103197112153212XGuXGinsheng(徐新生)No.10,888Lane,EastDamingRoad,Shanghai,PRCPRCID:310109194912311631Part3–MajorShareholders7A版优质实用文档72[重点实用参考文档资料]ExecutionVersion7A版优质实用文档NameAddressOrdinaryShareAimProfitLimitedRM401,4/FChina,InsuranceGroupBLDG141DesVoeuxGRDCentral,HK4263LondonTowerHoldingsLimitedP.O.BoxG957,OffshoreIncorporationsCentre,RoadTown,Tortola,BritishVirginIslands2079ScrutinyInvestmentsLimitedP.O.BoxG957,OffshoreIncorporationsCentre,RoadTown,Tortola,BritishVirginIslands41587A版优质实用文档73[重点实用参考文档资料]ExecutionVersion7A版优质实用文档Schedule2DraftofOperationalAgreement-ExGclusiveDistributionAgreement7A版优质实用文档74[重点实用参考文档资料]ExecutionVersion7A版优质实用文档Schedule37A版优质实用文档75[重点实用参考文档资料]ExecutionVersion7A版优质实用文档DraftofOperationalAgreement-LicenseAgreement7A版优质实用文档76[重点实用参考文档资料]ExecutionVersion7A版优质实用文档Schedule4DraftofOperationalAgreement-JointlyDevelopmentAgreement7A版优质实用文档77[重点实用参考文档资料]ExecutionVersion7A版优质实用文档Schedule5JobDescriptionsoftheHeadOfficialsI.HeadOfficialofBusinessDivisionII.III.IV.V.Title:DirectorofBusinessDevelopmentRole:BeInchargeofGlobalBusinessandcommunicatewithInvestoranditsAffiliatesaboutbusinessandcooperationwork.a)StrategyDept.:GlobalOnlineGameindustryresearch&LongtermplanofWOFE.StrategicplanningforWOFE’scoreabilitiesintensificationb)LicenseDept.:GlobalSalesofWOFETitlesorContentssourcingfromGlobalMarket.c)Co-OperationDept.:BusinessManagement&coordination7A版优质实用文档78[重点实用参考文档资料]ExecutionVersion7A版优质实用文档betweenMGandKoreandevelopersInvestoranditsAffiliates.(promotion,projects,etc,.)d)e)f)g)VI.HeadOfficialofTechnicalDivisionVII.VIII.IX.X.Title:SeniorOfficerofTechnicalDivisionRole:Togivedirectionofprogramming,ITsystemmaintenance,databasemanagement,reportoperationresulttoCEOandBoard.Inchargeof7A版优质实用文档79[重点实用参考文档资料]ExecutionVersion7A版优质实用文档runningteamsdealingwithprogramming,ITsystemmanagement,databasemanagement,servicemonitoringa)Programming:Implementationoftoolsandessentiallibraries,exGecutivesforcompany’swebsystem,servicinggames,securitysystem,servicemonitoringb)ITsystemmaintenance:Maintenanceofnetwork,serverhardware,operationsystemenvironment,servicebinaries,ITinfrafacilities,monitoringsystemc)Databasemanagement:Maintenanceofdatabasesystem,implementationofdatabaseoperationpolicyd)Servicemonitoring:Monitoringofservicinggames,userwebsystem(includingbillingsystem)e)f)g)h)7A版优质实用文档80',)