Exhibit 4.15




Exhibit
4.15





      





Xudong ZHU




Jun LUO




Shanghai SINA Leju Information Technology Co., Ltd.




AND




Beijing Yisheng Leju Information Service Co., Ltd.




 






Exclusive Call Option Agreement




In Respect Of Beijing Yisheng Leju Information Service Co., Ltd.




 






September 29, 2009




      




 









 







EXCLUSIVE CALL OPTION AGREEMENT



This EXCLUSIVE CALL OPTION AGREEMENT (this “Agreement”) is entered into as of September 29, 2009 by
and among the following parties:





	1.	 	Xudong ZHU
	 
	 	 	Identity Card No.: 310108196710054852
	 
	2.	 	Jun LUO
	 
	 	 	Identity Card No.: 310110196801064214
	 
	 	 	(Xudong ZHU and Jun LUO are hereinafter referred to individually as a “Company Shareholder” and
collectively as the “Company Shareholders”.)
	 
	3.	 	Shanghai SINA Leju Information Technology Co., Ltd. (the “WFOE”)
	 
	 	 	Registered address: Room 11A, 971 Dongfang Road, Pudong New District, Shanghai
	 
	4.	 	Beijing Yisheng Leju Information Service Co., Ltd. (the “Company”)
	 
	 	 	Registered address: Rooms 806-810, Ideal Plaza, 58 Bei Si Huan Xi Road, Haidian District,
Beijing




(In this Agreement, the above parties are hereinafter referred to individually as a “Party” and
collectively as the “Parties”.)




WHEREAS:





	(1)	 	Fei CAO, Jingning SHAO and the Company Shareholders entered into an Equity Interest Transfer
Agreement (the “Equity Interest Transfer Agreement”) on September 29, 2009. According to the
Equity Interest Transfer Agreement, Fei CAO and Jingning SHAO agree to transfer all the equity
interest they hold in the Company respectively to the Company Shareholders (the “Equity
Interest Transfer”). After the Equity Interest Transfer takes effect, the Company Shareholders
will become shareholders of the Company, legally holding all the equity interest in the
Company. Appendix 1 sets forth the capital contribution amount and the shareholding percentage
of each Company Shareholder in the registered capital of the Company as of the date when this
Agreement takes effect.
	 
	(2)	 	To the extent not in violation of the PRC Law, the Company Shareholders intend to transfer
all their respective equity interest in the Company to the WFOE and/or any other entity or
individual designated by the WFOE after the Equity Interest Transfer takes effect, and the
WFOE intends to accept such transfer.
	 
	(3)	 	To the extent not in violation of the PRC Law, the Company intends to transfer its assets to
the WFOE and/or any other entity or individual designated by the WFOE after the Equity
Interest Transfer takes effect, and the WFOE intends to accept such transfer.
	 
	(4)	 	For the purpose of the foregoing equity interest and asset transfer, the Company Shareholders
and the Company agree to grant to the WFOE the exclusive and irrevocable Equity Transfer
Option (as defined below) and Asset Purchase Option (as defined below) respectively after the
Equity Interest Transfer takes effect. Pursuant to such Equity Transfer Option and Asset
Purchase Option, at the




 









 








	 	 	WFOE’s request, the Shareholders or the Company shall, to the extent permitted by the PRC
Law, transfer the Option Equity (as defined below) or the Company Assets (as defined below)
to the WFOE and/or any other entity or individual designated by the WFOE pursuant to the
provisions of this Agreement.
	 
	(5)	 	The Company agrees that the Company Shareholders grant the Equity Transfer Option to the WFOE
pursuant to the provisions of this Agreement.
	 
	(6)	 	The Company Shareholders agree that the Company grants the Asset Purchase Option to the WFOE
pursuant to the provisions of this Agreement.




NOW, THEREFORE, the Parties, after consultations, hereby agree as follows:




Article 1 Definitions





	1.1	 	As used in this Agreement, the following terms shall be interpreted to have the following
meanings, unless otherwise interpreted pursuant to the context:
	 
	 	 	“Equity Transfer Option” shall mean the option to purchase the equity interest in the
Company as granted to the WFOE by the Company Shareholders pursuant to the terms and
conditions of this Agreement.
	 
	 	 	“Asset Purchase Option” shall mean the option to purchase any Company Assets as granted to
the WFOE by the Company pursuant to the terms and conditions of this Agreement.
	 
	 	 	“Option Equity” shall mean, in respect of each of the Company Shareholders, all the equity
interest held by him in the Company Registered Capital respectively as of the effective
date of this Agreement; in respect of all the Company Shareholders, the equity interest
covering 100% of the Company Registered Capital as of the effective date of this Agreement.
	 
	 	 	“Company Registered Capital” shall mean the registered capital of the Company as of the
effective date of this Agreement, i.e. RMB1,000,000, which shall include any expanded
registered capital as a result of any capital increase in any form within the term of this
Agreement.
	 
	 	 	“Transferred Equity” shall mean the equity interest in the Company which the WFOE has the
right to request either of the Company Shareholders to transfer to it or its designated
entity or individual in accordance with Article 3 hereof when the WFOE exercises its Equity
Transfer Option, the quantity of which may be all or part of the Option Equity and the
specific amount of which shall be determined by the WFOE at its sole discretion in
accordance with the then-effective PRC Law and based on its commercial consideration.
	 
	 	 	“Transferred Assets” shall mean the Company Assets which the WFOE has the right to require
the Company to transfer to it or its designated entity or individual in accordance with
Article 3 hereof when the WFOE exercises its Asset Purchase Option, the quantity of which
may be all or part of the Company Assets and the details of which shall be determined by
the WFOE at its sole discretion in accordance with the then-effective PRC Law and based on
its commercial consideration.
	 
	 	 	“Exercise of Option” shall mean the exercising of the Equity Transfer Option or the Asset
Purchase Option by the WFOE.




 









 








	 	 	“Transfer Price” shall mean all the consideration that the WFOE or its designated entity or
individual is required to pay to the Company Shareholders or the Company in order to obtain
the Transferred Equity or the Transferred Assets upon each Exercise of Option.
	 
	 	 	“Business Permits” shall mean any approvals, permits, filings, registrations, etc which the
Company is required to have for legally and validly operating all its businesses, including
without limitation, Business License of Corporate Legal Person, Operation Permit of
Value-added Telecommunication Service and such other relevant permits and licenses as
required by the then-effective PRC Law.
	 
	 	 	“Company Assets” shall mean all the tangible and intangible assets which the Company owns
or has the right to dispose of during the valid term of this Agreement, including without
limitation, any immoveable and moveable assets, intellectual property rights such as
trademarks, copyrights, patents, know-how, domain names and software use rights, and any
investment interest.
	 
	 	 	“Material Asset” shall mean any asset which has a book value of RMB100,000 or more or has a
material effect on the business operations of any Party.
	 
	 	 	“Material Agreement” shall mean, in respect of the Company, any agreement to which the
Company is a party and which has a material effect on the business or assets of the
Company, including without limitation, the Exclusive Technology Service Agreement entered
into by the Company and the WFOE on May 8, 2008 and other important agreements regarding
the business of the Company; in respect of a Subsidiary, any agreement to which such
Subsidiary is a party and which has a material effect on the business or assets of such
Subsidiary.
	 
	 	 	“PRC” shall mean the People’s Republic of China, which, for purpose of this Agreement only,
excludes Hong Kong Special Administrative Region, Macao Special Administrative Region and
Taiwan.
	 
	 	 	“PRC Law” shall mean the then-effective laws, administrative regulations, administrative
rules, local regulations, judicial interpretations and other binding regulatory documents
of the PRC.
	 
	 	 	“Exercise Notice” shall have the meaning prescribed to such term in Article 3.7 hereof.
	 
	 	 	“Subsidiary” shall have the meaning prescribed to such term in Article 6.1.10 hereof.
	 
	 	 	“Confidential Information” shall have the meaning prescribed to such term in Article 8.1
hereof.
	 
	 	 	“Disclosing Party” shall have the meaning prescribed to such term in Article 8.1 hereof.
	 
	 	 	“Receiving Party” shall have the meaning prescribed to such term in Article 8.1 hereof.
	 
	 	 	“Defaulting Party” shall have the meaning prescribed to such term in Article 11.1 hereof.
	 
	 	 	“Default” shall have the meaning prescribed to such term in Article 11.1 hereof.
	 
	 	 	“Available Rights” shall have the meaning prescribed to such term in Article 12.5 hereof.




 









 














	1.2	 	The references to any PRC Law herein shall be deemed:






	 	(1)	 	simultaneously to include the references to the amendments, changes,
supplements and restatement of such PRC Law, irrespective of whether they take effect
before or after the execution of this Agreement; and
	 
	 	(2)	 	simultaneously to include the references to other decisions, notices and
regulations enacted in accordance therewith or effective as a result thereof.






	1.3	 	Except as otherwise stated in the context herein, all references to an Article, clause, item
or paragraph shall refer to the corresponding part of this Agreement.





Article 2 Grant of Equity Transfer Option and Asset Purchase Option





	2.1	 	The Company Shareholders hereby severally and jointly agree to grant, upon this Agreement
taking effect, the WFOE an irrevocable, unconditional and exclusive Equity Transfer Option.
Pursuant to such Equity Transfer Option, the WFOE is entitled to, to the extent permitted by
the PRC Law, request the Company Shareholders to transfer the Option Equity to the WFOE or its
designated entity or individual according to the terms and conditions hereunder. The WFOE also
agrees to accept such Equity Transfer Option.
	 
	2.2	 	The Company hereby agrees that the Company Shareholders grant such Equity Transfer Option to
the WFOE according to Article 2.1 above and other provisions of this Agreement.
	 
	2.3	 	The Company hereby agrees to grant, upon this Agreement taking effect, the WFOE an
irrevocable, unconditional and exclusive Asset Purchase Option. Pursuant to such Asset
Purchase Option, the WFOE is entitled to, to the extent permitted by the PRC Law, request the
Company to transfer all or part of the Company Assets to the WFOE or its designated entity or
individual according to the terms and conditions hereunder. The WFOE also agrees to accept
such Asset Purchase Option.
	 
	2.4	 	The Company Shareholders hereby severally and jointly agree that the Company grants such
Asset Purchase Option to the WFOE according to Article 2.3 above and other provisions of this
Agreement.





Article 3 Method of Exercise of Option





	3.1.	 	Subject to the terms and conditions of this Agreement, the WFOE shall have the absolute sole
discretion to determine the specific time, method and times of its Exercise of Option to the
extent permitted by the PRC Law.
	 
	3.2.	 	Subject to the terms and conditions of this Agreement and to the extent not in violation of
the then-effective PRC Law, the WFOE shall have the right to, at any time, request to acquire
the Transferred Equity from the Company Shareholders by itself or through any other entity or
individual designated by it.
	 
	3.3.	 	Subject to the terms and conditions of this Agreement and to the extent not in violation of
the then-effective PRC Law, the WFOE shall have the right to, at




 









 








	 	 	any time, request to acquire the Transferred Assets from the Company by itself or through
any other entity or individual designated by it.
	 
	3.4.	 	With regard to the Equity Transfer Option, at each Exercise of Option, the WFOE shall have
the right to arbitrarily determine the amount of the Transferred Equity to be transferred by
the Company Shareholders to the WFOE and/or any other entity or individual designated by it.
The Company Shareholders shall respectively transfer the Transferred Equity to the WFOE and/or
any other entity or individual designated by it in the amount requested by the WFOE. The WFOE
and/or any other entity or individual designated by it shall pay the Transfer Price with
respect to the Transferred Equity acquired at each Exercise of Option to the Company
Shareholder transferring such Transferred Equity.
	 
	3.5.	 	With regard to the Asset Purchase Option, at each Exercise of Option, the WFOE shall have the
right to determine the specific Company Assets to be transferred by the Company to the WFOE
and/or any other entity or individual designated by it. The Company shall transfer the
Transferred Assets to the WFOE and/or any other entity or individual designated by it in
accordance with the WFOE’s requirement. The WFOE and/or any other entity or individual
designated by it shall pay the Transfer Price to the Company with respect to the Transferred
Assets acquired at each Exercise of Option.
	 
	3.6.	 	At each Exercise of Option, the WFOE may acquire the Transferred Equity or Transferred Assets
by itself or designate any third party to acquire all or part of the Transferred Equity or
Transferred Assets.
	 
	3.7.	 	Having decided each Exercise of Option, the WFOE shall issue to the Company Shareholders or
the Company a notice for exercising the Equity Transfer Option or a notice for exercising the
Asset Purchase Option (the “Exercise Notice”, the form of which are set out in Annex 2 and
Annex 3 hereto). The Company Shareholders or the Company shall, upon receipt of the Exercise
Notice, forthwith transfer all the Transferred Equity or Transferred Assets in accordance with
the Exercise Notice to the WFOE and/or any other entity or individual designated by the WFOE
in such method as described in Article 3.4 or Article 3.5 hereof.





Article 4 Transfer Price





	4.1.	 	With regard to the Equity Transfer Option, the total Transfer Price to be paid by the WFOE or
any other entity or individual designated by the WFOE to each Company Shareholder at each
Exercise of Option by the WFOE shall be the capital contribution mirrored by the corresponding
Transferred Equity in the Company Registered Capital. But if the lowest price permitted by the
then-effective PRC Law is higher than the above capital contribution, the Transfer Price shall
be the lowest price permitted by the PRC Law.
	 
	4.2.	 	With regard to the Asset Purchase Option, the Transfer Price to be paid by the WFOE or any
other entity or individual designated by the WFOE to the Company at each Exercise of Option by
the WFOE shall be the net book value of the relevant Transferred Assets. But if the lowest
price permitted by the then-effective PRC Law is higher than the net book value of the
Transferred Assets, the Transfer Price shall be the lowest price permitted by the PRC Law.




 









 













Article 5 Representations and Warranties





	5.1	 	The Company Shareholders hereby severally and jointly represent and warrant that:






	 	5.1.1.	 	Each of the Company Shareholders is a Chinese citizen with full capacity. Each of
them has the full and independent legal status and legal capacity to execute, deliver
and perform this Agreement and may act independently as a party to lawsuit.
	 
	 	5.1.2.	 	The Company is a limited liability company duly registered and legitimately existing
under the PRC Law with an independent legal personality. It has the full and
independent legal status and legal capacity to execute, deliver and perform this
Agreement and may act independently as a party to lawsuit.
	 
	 	5.1.3.	 	Upon this Agreement taking effect, each of them has the full power and authority to
execute, deliver and perform this Agreement and all other documents relating to the
transaction contemplated hereby and to be executed by him. Each of them has the full
power and authority to consummate the transaction contemplated hereby.
	 
	 	5.1.4.	 	This Agreement is legally and duly executed and delivered by the Company
Shareholders. After taking effect, this Agreement shall constitute their legal and
binding obligations and shall be enforceable against them in accordance with the terms
of this Agreement.
	 
	 	5.1.5.	 	The Company Shareholders are the legitimate owners of the Option Equity as of the
effective date of this Agreement, and except for the rights created under the Equity
Pledge Agreement and Shareholder Voting Rights Proxy Agreement executed by the
Company, the WFOE and the Company Shareholders on the date hereof, the Option Equity
is free from and clear of any lien, pledge, claim and other encumbrances and third
party rights. Pursuant to this Agreement, the WFOE and/or any other entity or
individual designated by it may, after the Exercise of Option, acquire a good title to
the Transferred Equity, free from and clear of any lien, pledge, claim and other
encumbrances or third party rights.
	 
	 	5.1.6.	 	To the knowledge of the Company Shareholders, as of the effective date of this
Agreement, the Company Assets are free from and clear of any lien, mortgage, claim and
other encumbrances and third party rights. Pursuant to this Agreement, the WFOE and/or
any other entity or individual designated by it may, after the Exercise of Option,
acquire a good title to the Company Assets, free from and clear of any lien, mortgage,
claim and other encumbrances or third party rights.
	 
	 	5.1.7.	 	The execution, delivery and performance by the Company Shareholders of this
Agreement and the consummation by the Company Shareholders of the transaction
contemplated hereby do not violate any PRC Law or any agreement, contract or other
arrangement with any third party by which they are bound.






	5.2	 	The Company hereby represents and warrants that:




 









 














	 	5.2.1	 	The Company is a limited liability company duly registered and legitimately
existing under the PRC Law with an independent legal personality. It has the full and
independent legal status and legal capacity to execute, deliver and perform this
Agreement and may act independently as a party to lawsuit.
	 
	 	5.2.2	 	The Company has the full internal corporate power and authority to execute,
deliver and perform this Agreement and all other documents relating to the transaction
contemplated hereby and to be executed by it. It has the full power and authority to
consummate the transaction contemplated hereby.
	 
	 	5.2.3	 	This Agreement is legally and duly executed and delivered by the Company.
After taking effect, this Agreement shall constitute the legal and binding obligation
against it.
	 
	 	5.2.4	 	The Company Assets are free from and clear of any lien, mortgage, claim and
other encumbrances and third party rights. Pursuant to this Agreement, the WFOE and/or
any other entity or individual designated by it may, after the Exercise of Option,
acquire a good title to the Company Assets, free from and clear of any lien, mortgage,
claim and other encumbrances or third party rights.
	 
	 	5.2.5	 	The execution, delivery and performance by the Company of this Agreement and
the consummation by the Company of the transaction contemplated hereby do not violate
any PRC Law or any agreement, contract or other arrangement with any third party by
which it is bound.






	5.3	 	The WFOE hereby represents and warrants that:






	 	5.3.1.	 	The WFOE is a wholly foreign-owned enterprise duly registered and legitimately
existing under the PRC Law with an independent legal personality. The WFOE has the
full and independent legal status and legal capacity to execute, deliver and perform
this Agreement and may act independently as a party to lawsuit.
	 
	 	5.3.2.	 	The WFOE has the full internal corporate power and authority to execute, deliver and
perform this Agreement and all other documents relating to the transaction
contemplated hereby and to be executed by it. It has the full power and authority to
consummate the transaction contemplated hereby.
	 
	 	5.3.3.	 	This Agreement is legally and duly executed and delivered by the WFOE. After taking
effect, this Agreement shall constitute the legal and binding obligation against it.





Article 6 Undertakings by the Company Shareholders



Each of the Company Shareholders hereby severally undertakes that:





	6.1	 	Within the valid term of this Agreement, without the WFOE’s prior written consent:






	 	6.1.1.	 	any Company Shareholder shall not transfer or otherwise dispose of any Option Equity
or create any encumbrance or other third party rights on any Option Equity;




 









 








	 	6.1.2.	 	he shall not increase or decrease the Company Registered Capital or cause or permit
the Company to be divided or merged with any other entity;
	 
	 	6.1.3.	 	he shall not dispose of or cause the management of the Company to dispose of any
Material Asset (other than in the ordinary course of business), or create any
encumbrance or other third party rights on any Material Asset;
	 
	 	6.1.4.	 	he shall not terminate or cause the management of the Company to terminate any
Material Agreement entered into by the Company, or enter into any other agreement in
conflict with the existing Material Agreements;
	 
	 	6.1.5.	 	he shall not appoint or dismiss and replace any director or supervisor of the
Company or any other management personnel of the Company who shall be appointed or
dismissed by the Company Shareholders;
	 
	 	6.1.6.	 	he shall not cause the Company to declare the distribution of or in practice release
any distributable profit, dividend, share profit or share interest;
	 
	 	6.1.7.	 	he shall ensure that the Company validly exists and is not terminated, liquidated or
dissolved;
	 
	 	6.1.8.	 	he shall not amend the articles of association of the Company;
	 
	 	6.1.9.	 	he shall ensure that the Company will not lend or borrow any money, or provide any
guaranty or engage in security activities in any other form, or bear any substantial
obligations other than in the ordinary course of business; and
	 
	 	6.1.10.	 	it shall not cause the Company or the management of the Company to approve any of
the following acts of any of the Company’s subsidiaries or affiliates (collectively,
the “Subsidiaries”):






	 	(a)	 	increase or decrease any Subsidiary’s registered capital or
cause or permit any Subsidiary to be divided or merged with any other entity;
	 
	 	(b)	 	dispose of or cause the management of the Subsidiaries to
dispose of any Material Asset of any Subsidiary (other than in the ordinary
course of business), or create any encumbrance or other third party rights on
such assets;
	 
	 	(c)	 	terminate or cause the management of the Subsidiaries to
terminate any Material Agreement entered into by any Subsidiary, or enter into
any other agreement in conflict with the existing Material Agreements;
	 
	 	(d)	 	appoint or dismiss and replace any director or supervisor of
any Subsidiary or any other management personnel of such Subsidiary who shall
be appointed or dismissed by the Company;
	 
	 	(e)	 	terminate, liquidate or dissolve any Subsidiary or act in any
way that damages or is likely to damage the valid existence of any Subsidiary;
	 
	 	(f)	 	amend the articles of association of any Subsidiary; and




 









 








	 	(g)	 	lend or borrow any money, or provide any guaranty or engage
in security activities in any other form, or bear any substantial obligations
other than in the ordinary course of business.






	6.2	 	Within the valid term of this Agreement, he shall use his best endeavor to develop the
business of the Company and ensure that the Company’s operations are legal and in compliance
with the regulations, and he will not engage in any act or omission which may damage the
Company’s (including the Subsidiaries’) assets and goodwill or affect the validity of the
Business Permits of the Company.
	 
	6.3	 	Within the valid term of this Agreement, he shall timely notify the WFOE of any circumstances
that may have a material adverse effect on the existence, business operations, financial
conditions, assets or goodwill of the Company (including the Subsidiaries) and timely take all
the measures approved by the WFOE to remove such adverse circumstances or take effective
remedial measures with respect thereto.
	 
	6.4	 	With the valid term of this Agreement, once the WFOE gives the Exercise Notice,






	 	6.4.1.	 	he shall promptly convene a shareholders’ meeting, pass shareholders’ resolutions
and take all other necessary actions to approve any Company Shareholder or the Company
to transfer all the Transferred Equity or the Transferred Assets at the Transfer Price
to the WFOE and/or any other entity or individual designated by the WFOE, and waive
any preemptive right to purchase enjoyed by him (if any);
	 
	 	6.4.2.	 	he shall promptly enter into an equity transfer agreement with the WFOE and/or any
other entity or individual designated by the WFOE to transfer all the Transferred
Equity at the Transfer Price to the WFOE and/or any other entity or individual
designated by the WFOE and provide necessary support to the WFOE (including provision
and execution of all relevant legal documents, performing all government approval and
registration procedures and assuming all relevant obligations) in accordance with the
WFOE’s requirements and the PRC Law so that the WFOE and/or any other entity or
individual designated by the WFOE may acquire all the Transferred Equity, free from
and clear of any legal defect or any encumbrance, third party restriction or any other
restrictions on the Transferred Equity.






	6.5	 	If the total Transfer Price obtained by any Company Shareholder with respect to the
Transferred Equity held by him is higher than the capital contribution corresponded with such
Transferred Equity in the Company Registered Capital, or he receives any form of profit
distribution, share profit, share interest or dividend from the Company, then such Company
Shareholder agrees to, to the extent no in violation of the PRC Law, waive the premium
earnings and any profit distribution, share profit, share interest or dividend (after the
deduction of relevant taxes) and the WFOE is entitled thereto. Otherwise, such Company
Shareholder shall compensate the WFOE and/or any other entity or individual designated by the
WFOE for any loss incurred as a result thereof.





Article 7 Undertakings by the Company




 









 











	7.1	 	The Company hereby undertakes that:






	 	7.1.1.	 	If any consent, permit, waiver or authorization by any third party, or any approval,
permit or exemption by any government authority, or any registration or filing
formalities (if required by law) with any government authority needs to be obtained or
handled with respect to the execution and performance of this Agreement and the grant
of the Equity Transfer Option or Asset Purchase Option hereunder, the Company shall
endeavor to assist in satisfying the above conditions.
	 
	 	7.1.2.	 	Without the WFOE’s prior written consent, the Company shall not assist or permit the
Company Shareholders to transfer or otherwise dispose of any Option Equity or create
any encumbrance or other third party rights on any Option Equity.
	 
	 	7.1.3.	 	Without the WFOE’s prior written consent, the Company shall not transfer or
otherwise dispose of any Material Asset (other than in the ordinary course of
business) or create any encumbrance or other third party rights on any Company Assets.
	 
	 	7.1.4.	 	The Company shall not do or permit to be done any behavior or action that may
adversely affect the interests of the WFOE under this Agreement, including without
limitation, any behavior and action that is subject to Article 6.1.






	7.2	 	With the valid term of this Agreement, once the WFOE gives the Exercise Notice,






	 	7.2.1	 	it shall promptly cause the Company Shareholders to convene a shareholders’
meeting, pass shareholders’ resolutions and take all other necessary actions to
approve the Company to transfer all the Transferred Assets at the Transfer Price to
the WFOE and/or any other entity or individual designated by the WFOE;
	 
	 	7.2.2	 	it shall promptly enter into an asset transfer agreement with the WFOE
and/or any other entity or individual designated by the WFOE to transfer all the
Transferred Assets at the Transfer Price to the WFOE and/or any other entity or
individual designated by the WFOE, and cause the Company Shareholders to provide
necessary support to the WFOE (including provision and execution of all relevant legal
documents, performing all government approval and registration procedures and assuming
all relevant obligations) in accordance with the WFOE’s requirements and the PRC Law
so that the WFOE and/or any other entity or individual designated by the WFOE may
acquire all the Transferred Assets, free from and clear of any legal defect or any
encumbrance, third party restriction or any other restrictions on the Transferred
Assets.





Article 8 Confidentiality Obligations





	8.1	 	Regardless of whether this Agreement is terminated or not, each Party shall keep




 









 








	 	 	strictly confidential all the business secrets, proprietary information, customer
information and all other information of a confidential nature about the other Parties
known by it during the execution and performance of this Agreement (collectively, the
“Confidential Information”). Unless a prior written consent is obtained from the Party
disclosing the Confidential Information (the “Disclosing Party”) or unless it is required
to be disclosed to third parties according to the stipulation of relevant laws and
regulations or the requirement of the place where its affiliate is listed on a stock
exchange, the Party receiving the Confidential Information (the “Receiving Party”) shall
not disclose to any third party any Confidential Information. The Receiving Party shall not
use any Confidential Information other than for the purpose of performing this Agreement.
	 
	8.2	 	The following information shall not be deemed part of the Confidential Information:






	 	(a)	 	any information that has been lawfully acquired by the receiving Party before
as evidenced by written documents;
	 
	 	(b)	 	any information entering the public domain not attributable to the fault of
the Party receiving the information; or
	 
	 	(c)	 	any information lawfully acquired by the Party receiving the information
through other sources after its receipt of such information.






	8.3	 	For purpose of performing this Agreement, the Receiving Party may disclose the Confidential
Information to its relevant employees, agents or professionals retained by it. However, the
Receiving Party shall ensure that the aforesaid persons shall comply with the relevant terms
and conditions of this Article 8. In addition, the Receiving Party shall be responsible for
any liability incurred as a result of such persons’ breach of the relevant terms and
conditions of this Article 8.
	 
	8.4	 	Notwithstanding any other provision herein, the effect of this Article 8 shall not be
affected by the termination of this Agreement.





Article 9 Term of Agreement



After being duly executed by the Parties, this Agreement shall become effective immediately upon
the Equity Interest Transfer taking effect. This Agreement shall terminate after all the Option
Equity and the Company Assets are lawfully transferred to the WFOE and/or any other entity or
individual designated by the WFOE pursuant to the provisions of this Agreement.




Article 10 Notices





	10.1	 	Any notice, request, demand and other correspondences required by this Agreement or made in
accordance with this Agreement shall be delivered in writing to the relevant Party.
	 
	10.2	 	If any of such notice or other correspondences is transmitted by facsimile or




 









 








	 	 	telex, it shall be treated as delivered immediately upon transmission; if delivered in
person, it shall be treated as delivered at the time of delivery; if posted by mail, it
shall be treated as delivered five (5) days after posting.





Article 11 Defaulting Liability





	11.1	 	The Parties agree and confirm that, if any of the Parties (the “Defaulting Party”)
substantially violates any agreement herein or substantially fails to perform or delays
performance of any of the obligations hereunder, such violation, failure or delay shall
constitute a default under this Agreement (a “Default”). The non-defaulting Party shall have
the right to request the Defaulting Party to rectify or take remedial actions within a
reasonable period. If the Defaulting Party fails to rectify such Default or take remedial
actions within such reasonable period or within ten (10) days after the non-defaulting Party
notifies the Defaulting Party in writing requiring the Default to be rectified, then the
non-defaulting Party is entitled to decide at its own discretion that:






	 	11.1.1.	 	if any Company Shareholder or the Company is the Defaulting Party, the WFOE shall
be entitled to terminate this Agreement and require the Defaulting Party to indemnify
the damages;
	 
	 	11.1.2.	 	if the WFOE is the Defaulting Party, the non-defaulting Party shall be entitled to
require the Defaulting Party to indemnify the damages, but unless otherwise provided
for by the PRC Law, the non-defaulting Party has no right to terminate or cancel this
Agreement in any circumstances.






	11.2	 	Notwithstanding any other provision herein, the effect of this Article 11 shall not be
affected by the termination of this Agreement.





Article 12 Miscellaneous





	12.1	 	This Agreement is written in Chinese and executed in four (4) originals, with one (1)
original to be retained by each Party hereto.
	 
	12.2	 	The execution, effectiveness, performance, revision, interpretation and termination of this
Agreement shall be governed by the PRC Law.
	 
	12.3	 	Any dispute arising out of and in connection with this Agreement shall be resolved through
consultations among the Parties. In case the Parties fail to reach agreement within thirty
(30) days after the dispute arises, such dispute shall be submitted to China International
Economic and Trade Arbitration Commission Shanghai Commission for arbitration in Shanghai in
accordance with such Commission’s arbitration rules in effect at the time of applying for
arbitration, and the arbitration award shall be final and binding on the Parties.
	 
	12.4	 	None of the rights, powers or remedies granted to any Party by any provision herein shall
preclude any other rights, powers or remedies available to such Party at law and under the
other provisions of this Agreement. In addition, the exercising by one Party of any of its
rights, powers and remedies shall not exclude such Party from exercising any of its other
rights, powers and remedies.




 









 








	12.5	 	No failure or delay by a Party in exercising any rights, powers and remedies available to it
hereunder or at law (the “Available Rights”) shall result in a waiver thereof, nor shall the
waiver of any single or partial exercise of the Available Rights shall exclude such Party from
exercising such rights in any other way and exercising the other Available Rights.
	 
	12.6	 	The headings of the provisions herein are for reference only, and in no event shall such
headings be used for or affect the interpretation of the provisions hereof.
	 
	12.7	 	Each provision contained herein shall be severable and independent from each of the other
provisions. If any one or more provisions herein become(s) invalid, illegal or unenforceable
at any time, the validity, legality and enforceability of the remaining provisions herein
shall not be affected as a result thereof.
	 
	12.8	 	This Agreement, when effective, shall supersede any prior other legal documents executed by
and among the Parties with respect to the subject matter hereof. Any amendment or supplement
hereto shall be made in writing and shall become effective only upon due execution by the
Parties hereto.
	 
	12.9	 	Without the WFOE’s prior written consent, each Company Shareholder or the Company shall not
transfer any of its rights and/or obligations hereunder to any third party. The Company
Shareholders and the Company hereby agree that the WFOE is entitled to transfer any of its
rights and/or obligations hereunder to any third party upon written notice thereof to the
Company Shareholders and the Company.
	 
	12.10	 	This Agreement shall be binding on the legal assignees or successors of the Parties.





[The remainder of this page intentionally left blank]




 









 










[SIGNATURE PAGE]




IN WITNESS WHEREOF, the following Parties have executed this Exclusive Call Option Agreement as of
the date first above written.



	 	 	 	 	 	 	 
	Xudong ZHU	 	 	 	 
	 
	 	 	 	 	 	 
	By:

	 	/s/ Xudong ZHU
 

	 	 	 	 
	 
	 	 	 	 	 	 
	Jun LUO	 	 	 	 
	 
	 	 	 	 	 	 
	By:

	 	/s/ Jun LUO
 

	 	 	 	 
	 
	 	 	 	 	 	 
	Shanghai SINA Leju Information Technology Co., Ltd.
	 	 		 
	(Seal)
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	By: 

Name:

	 	/seal/
 

	 	 	 	 
	Title:
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	Beijing Yisheng Leju Information Service Co., Ltd.	 	 	 	 
	(Seal)
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	By:

	 	/seal/	 	 	 	 
	Name:

	 	 

	 	 	 	 
	Title:
	 	 	 	 	 	 






 









 








Annex 1:




Company’s General Information




	 	 	 
	Company name:

	 	Beijing Yisheng Leju Information Service Co., Ltd.
	 
	 	 
	Registered address:

	 	Rooms 806-810, Ideal Plaza, 58 Bei Si Huan Xi Road,
Haidian District, Beijing
	 
	 	 
	Registered capital:

	 	RMB1,000,000






Shareholding structure:




	 	 	 	 	 	 	 
	 	 	Contribution in	 	Percentage of	 	Method of
	Shareholder’s name	 	registered capital	 	contribution	 	contribution
	Xudong ZHU
	 	RMB800,000
	 	80%
	 	Currency
	 	 	 	 	 	 	 
	Jun LUO
	 	RMB200,000
	 	20%
	 	Currency
	 	 	 	 	 	 	 
	Total
	 	RMB1,000,000
	 	100%
	 	/






 









 








Annex 2:




Form of Exercise Notice




To: [Name of the Company Shareholder]



WHEREAS, we, Beijing Yisheng Leju Information Service Co., Ltd. (the “Company”), [name of the other
Company Shareholder] and you entered into an Exclusive Call Option Agreement (the “Option
Agreement”) on [*], 2009 and reached an agreement that you shall transfer the equity interest you
hold in the Company to us or any third party designated by us at our request to the extent
permitted by the PRC laws and regulations.



Therefore, we hereby give this notice to you as follows:



We hereby request to exercise the Equity Transfer Option under the Option Agreement and we/[name of
company/individual] designated by us will acquire the [•]% of the equity interest you hold in the
Company (the “Proposed Acquired Equity”). Upon your receipt of this notice, you shall immediately
transfer all the Proposed Acquired Equity to us/[name of designated company/individual] pursuant to
the provisions of the Option Agreement.



Regards,




Shanghai SINA Leju Information Technology Co., Ltd.

(Seal)




Authorized representative:




Date:




 









 







Annex 3:




Form of Exercise Notice



To: Beijing Yisheng Leju Information Service Co., Ltd.



WHEREAS, we, Xudong ZHU, Jun LUO and you entered into an Exclusive Call Option Agreement (the
“Option Agreement”) on [*], 2009 and reached an agreement that you shall transfer your assets to us
or any third party designated by us at our request to the extent permitted by the PRC laws and
regulations.



Therefore, we hereby give this notice to you as follows:



We hereby require to exercise the Asset Purchase Option under the Option Agreement and we/[name of
company/individual] designated by us will acquire the assets owned by you as stated in a separate
list (the “Proposed Acquired Assets”). Upon your receipt of this notice, you shall immediately
transfer all the Proposed Acquired Assets to us/[name of designated company/individual] pursuant to
the provisions of the Option Agreement.



Regards,




Shanghai SINA Leju Information Technology Co., Ltd.

(Seal)




Authorized representative:




Date: