EX-10.4






Exhibit 10.4




FORM OF EQUITY PLEDGE AGREEMENT

(Summary Translation)




     This Equity Pledge Agreement (this “Agreement”) is made and entered into by the parties below
on [specify date] in [specify city], People’s Republic of China (“China”):


Pledgee:




     [specify name of a subsidiary of SouFun Holdings Limited] of [specify address]


Pledgor I: [specify name of shareholder of a consolidated controlled entity] of [specify address]



Pledgor II: [specify name of shareholder of the consolidated controlled entity] of [specify
address]




     Pledgor I and Pledgor II are hereinafter referred to as the “Pledgor(s),” and the Pledgee and
the Pledgors, collectively, the “Parties.”



Whereas:




     Each Pledgor is a PRC citizen holding equity interests of [specify percentage]% and [specify
percentage]%, respectively, in [specify name of the consolidated controlled entity] (the
“Company”).



     The Company is a company registered in [specified city], China, engaging in [specify
government approved business scope].



     The Pledgee is a wholly foreign owned enterprise registered in [specify city], China, licensed
by relevant government departments to lawfully engage in the business of [specify government
approved business scope].



     The Pledgee and the Company have entered into the Service Agreement as defined in Article 1 on
[specify date].



     In order to ensure that the Pledgee can collect consulting and services fees pursuant to the
Service Agreement from the Company, the Pledgors hereby pledge all of their Equity Interests as
defined in Article 1 in the Company to the Pledgee as a guarantee for the payment of the consulting
and services fees under the Service Agreement.



     NOW, THEREFORE, the Pledgors and the Pledgee, through negotiations on the principle of
equality, agree as follows:




	1.	 	Definition





     Unless otherwise provided in this Agreement, the following terms shall have the following
meanings:




	1.1	 	Right of Pledge: as specified in Article 2 of this Agreement.
	 
	1.2	 	Equity Interests: 100% of the equity interests held by the Pledgors in the Company.




 









 






	1.3	 	Term of Pledge: the term specified in Article 3 hereunder.
	 
	1.4	 	Service Agreement: the Exclusive Technical Consultancy and Services Agreement entered into by
the Company and the Pledgee on [specify date].
	 
	1.5	 	Breach of Agreement: any circumstance specified in Article 6.1 hereunder.
	 
	1.6	 	Notice of Breach: a notice sent by the Pledgee under this Agreement declaring a Breach of
Agreement.





     Terms not specifically defined hereunder shall have the same meaning as the corresponding
terms contained in the Service Agreement.




	2.	 	Pledge and Right of Pledge
	 
	2.1	 	The Pledgors pledge all their Equity Interests in the Company to the Pledgee. The Right of
Pledge means the priority right enjoyed by the Pledgee to claim the consulting and services
fees, which the Pledgee is entitled to under the Service Agreement from funds obtained through
conversion, auction or sale of the Equity Interests that the Pledgors pledge to the Pledgee.
	 
	3.	 	Term of Pledge
	 
	3.1	 	This Agreement shall come into force upon the date when the pledge of Equity Interests
hereunder is recorded in the register of shareholders of the Company, and such pledge shall
remain valid for two (2) years after the expiry of the Service Agreement.
	 
	3.2	 	During the Term of Pledge, the Pledgee is entitled to exercise its Right of Pledge should the
Company not disburse part or all of the consulting and services fees under the Service
Agreement.
	 
	4.	 	Custody of the Certificate for Pledge
	 
	4.1	 	During the term of this Agreement, the Pledgee shall keep in custody the investment
certificates of the Equity Interests in the Company and the register of shareholders of the
Company in which the pledge of the Equity Interests hereunder is recorded. Within one (1) week
of the execution of this Agreement, the Pledgors shall deliver these aforesaid documents to
the Pledgee.
	 
	4.2	 	The Pledgee is entitled to collect dividends arising out of the Equity Interests.
	 
	5.	 	Representations and Warranties of the Pledgors
	 
	5.1	 	The Pledgors are PRC citizens with full capacity for civil act, with full and independent
legal status, and are legally competent to sign, deliver and perform this Agreement. Each of
the Pledgors can sue or be sued in a litigation.
	 
	5.2	 	The Pledgors are the lawful owners of the Equity Interests.


	 
	5.3	 	The Pledgors can sign this Agreement without the consent of any third party.
	 
	5.4	 	When exercising its Right of Pledge under this Agreement, the Pledgee shall not be interfered
by any other party.
	 
	5.5	 	Except for the Right of Pledge, there are no other liens, pledges, mortgages, claims or other
guarantee rights, or restrictions imposed by or belonging to any third party, in the Equity
Interests.
	 
	5.6	 	Without the prior written consent of the Pledgee, the Pledgors shall not transfer the Equity
Interests, nor shall they establish or permit to be established any liens, pledges, mortgages,
claims or other 




2









 






	 	 	guarantee rights, or restrictions in favor of any third party, that may affect
the rights and interests of the Pledgee.






	5.7	 	The Pledgors shall observe and comply with any and all provisions of laws and regulations
concerning the pledge. Within five (5) days after receiving any notice or decree issued or
provided by relevant authorities, the Pledgors shall present such notice or decree to the
Pledgee, and issue opinion on the aforesaid matters upon the reasonable request of the
Pledgee.
	 
	5.8	 	The Pledgors shall promptly notify the Pledgee of any event or circumstance that may affect
the Equity Interests pledged, change any of the Pledgors’ warranties and obligations, or
affect the performance of the Pledgors’ obligations hereunder.
	 
	5.9	 	The Pledgors hereby agree that the Right of Pledge to be exercised by the Pledgee shall not
be disrupted or impaired by the Pledgors, the Pledgors’ successors, or trustees, or any other
person.
	 
	5.10	 	Each of the Pledgors has full power to sign, deliver and perform this Agreement. This
Agreement shall be signed and delivered by the Pledgors legally and properly. This Agreement
shall be binding upon the Pledgors and may be enforced against the Pledgors in accordance with
the terms and conditions hereunder.
	 
	5.11	 	The Pledgors shall complete the procedures for registration and filing with the relevant
government departments, including but not limited to the State Administration of Industry and
Commerce in China.
	 
	5.12	 	In the interests of the Pledgee, the Pledgors shall observe and perform all of the aforesaid
warranties, undertakings, agreements, representations and conditions. Should any of the
Pledgors not perform or fully perform such warranties, undertakings, agreements,
representations and conditions, it shall be liable for damages to the Pledgee for any loss
suffered by the Pledgee arising therefrom.
	 
	6.	 	Breach of Agreement
	 
	6.1	 	Any of the following events shall be deemed a Breach of Agreement:






	 	6.1.1	 	The Company fails to promptly disburse the total consulting and services fees
under the Service Agreement.
	 
	 	6.1.2	 	Any of the representations and warranties contained in Article 5 are
materially misleading or false, and/or the Pledgors breach any of the representations
and warranties contained in Article 5.
	 
	 	6.1.3	 	The Pledgors breach any of the terms and conditions of this Agreement.
	 
	 	6.1.4	 	Unless otherwise agreed under Article 5.6, the Pledgors forfeit the Equity
Interests pledged or transfer such Equity Interests without the written consent of the
Pledgee.
	 
	 	6.1.5	 	Any loan, guaranty, indemnification, undertaking or other responsibility that
the Company owes to any third party (1) is requested to be repaid or performed in
advance due to breach of contract by the Company; or (2) is due but not repaid or
performed by the Company such that the Pledgee believes that the capacity of the
Company to perform its obligations has been affected thereby.
	 
	 	6.1.6	 	The Pledgors fail to repay any of their own debts.
	 
	 	6.1.7	 	This Agreement becomes illegal due to the publication of relevant laws or the
Pledgors fail to continue performing their obligations hereunder.
	 
	 	6.1.8	 	Any consent, approval or authorization by government organizations required to
render this Agreement enforceable, legal, or valid is rescinded, terminated,
invalidated or materially amended.




3









 






	 	6.1.9	 	Properties owned by the Pledgors have suffered an adverse change such that the
Pledgee believes that the capacity of the Pledgors to perform their obligations has been
adversely affected thereby.
	 
	 	6.1.10	 	The successor or custodian of the Company performs only part of, or refuses to
perform, the payment obligations under the Service Agreement.
	 
	 	6.1.11	 	The Pledgee is unable to exercise its Right of Pledge under the relevant laws.






	6.2	 	The Pledgors shall notify the Pledgee in writing if the Pledgors become aware of, or find out
about, the occurrence of any of the events or circumstances specified in Article 6.1 or
occurrences that may lead to the aforesaid events or circumstances.
	 
	6.3	 	Unless the events or circumstances specified in Articles 6.1 under this Agreement have been
settled to the Pledgee’s satisfaction, the Pledgee may send a Notice of Breach in writing to
the Pledgors at any time during or after a Breach of Agreement by the Pledgors, requesting the
Pledgors to forthwith pay any and all debts under the Service Agreement and other debts due,
or it may exercise its Right of Pledge in accordance with the provisions contained in Article
7 hereunder.
	 
	7.	 	Exercise of Right of Pledge
	 
	7.1	 	Before repaying in full the consulting and services fees under the Service Agreement, the
Pledgors shall not transfer the Equity Interests pledged without the written consent of the
Pledgee.
	 
	7.2	 	The Pledgee shall send a Notice of Breach to the Pledgors when the Pledgee exercises its
Right of Pledge.
	 
	7.3	 	The Pledgee can exercise its Right of Pledge when it sends a Notice of Breach or at any time
after sending such Notice in accordance with the provisions contained in Article 6.3.
	 
	7.4	 	The Pledgee has priority in receiving repayment from funds obtained through conversion,
auction or sale of part or all of the Equity Interests under this Agreement pursuant to legal
procedures, until the consulting and services fees remaining unpaid under the Service
Agreement and all other payments due have been paid off.
	 
	7.5	 	When the Pledgee exercises its Right of Pledge under this Agreement, the Pledgors shall not
obstruct such exercise in any way and shall instead render any necessary assistance so that
the Pledgee can realize its Right of Pledge.
	 
	8.	 	Transfer
	 
	8.1	 	Unless previously consented to in writing by the Pledgee, none of the Pledgors shall have any
right to donate or transfer the rights and obligations under this Agreement.
	 
	8.2	 	This Agreement shall be binding upon the Pledgors, the Pledgors’ successors and transferees
of the Equity Interests pledged with the consent of the Pledgee, and shall remain a valid
obligation on the Pledgee and any of its successors and transferees.
	 
	8.3	 	The Pledgee can transfer, at any time, any and all rights and obligations under the Service
Agreement to any person designated by the Pledgee. Under such circumstances, the transferee
shall have the same rights and obligations of the Pledgee under this Agreement as if it were a
Party hereto. The Pledgors shall sign any relevant agreements and/or documents effecting such
transfer upon the request of the Pledgee when the Pledgee transfers the aforesaid rights and
obligations.
	 
	8.4	 	If the identity of the Pledgee or Pledgors changes due to the aforesaid transfer of the
rights and obligations herein, the new parties involved in the pledge shall sign a new pledge
agreement.




4









 






	9.	 	Termination
	 
	9.1	 	When the consulting and services fees under the Service Agreement are fully repaid and the
Company has performed all other obligations under the Service Agreement, this Agreement shall
be terminated.
	 
	10.	 	Expenses
	 
	10.1	 	Any and all expenses relating to this Agreement, to the extent reasonable, including but not
limited to the legal fees, production costs, stamp duties and any other taxes and expenses,
shall be borne by the Pledgors. Should the Pledgee pay any such expenses or taxes, the
Pledgors shall fully reimburse the Pledgee for the aforesaid expenses or taxes paid by the
Pledgee.
	 
	10.2	 	The Pledgee may take any measure to claim from the Pledgors any such expenses or taxes
arising under this Agreement or such other expenses or taxes that the Pledgors agreed to pay
but have not yet paid. Any and all expenses (including but not limited to taxes and
expenditures, handling charges, overhead expenses, legal costs, attorney’s fees and insurance
premiums) arising out of the aforesaid claims shall be borne by the Pledgors.
	 
	11.	 	Force Majeure
	 
	11.1	 	“Force majeure” means any unforeseeable circumstance which is beyond the control of a Party,
or any unavoidable event, even if foreseeable, as a result of which such Party is unable to
perform its obligations, in whole or in part, under this Agreement. Such circumstances
include, but are not limited to, any strike, factory closure, explosion, maritime peril,
natural disaster, act by a public enemy, fire, flood, accident, war, riot, insurgence or any
other similar event.
	 
	11.2	 	Should the affected Party be prevented from performing its obligations hereunder due to any
force majeure event, the aforesaid obligations shall be suspended during the continuation of
such force majeure event, and the time for performing such obligations shall be extended
automatically until the force majeure event ends. The affected Party shall not be liable for
its non-performance during the force majeure event.
	 
	11.3	 	Any Party encountering a force majeure event shall forthwith notify the other Parties in
writing and supply proper evidence of the inception of the force majeure event and its
continuing period. Such Party shall make every reasonable endeavor to mitigate the damages of
such event of force majeure.
	 
	11.4	 	If a force majeure event occurs, the Parties shall forthwith negotiate a fair solution, and
shall make any and all reasonable efforts to minimize the effects of any event of force
majeure.
	 
	11.5	 	If the force majeure event lasts over ninety (90) days and the Parties do not reach any
agreement on a just solution, any of the Parties shall be entitled to terminate this
Agreement. In case of termination of this Agreement pursuant to the aforesaid provision, none
of the Parties shall have any rights or obligations subsequent thereto, but the rights and
obligations of each Party arising hereunder before such termination shall not be affected.
	 
	12.	 	Dispute Resolution
	 
	12.1	 	The PRC law shall govern the execution, validity, interpretation, amendment, termination and
resolution of disputes arising out of this Agreement. The PRC law referred to herein does not
include the laws of Taiwan, the Hong Kong Special Administration Region or the Macau Special
Administration Region.




5









 






	12.2	 	Any dispute arising from or related to this Agreement shall be settled first through friendly
negotiations. If such dispute cannot be settled within thirty (30) days after the start of
negotiations, it shall be submitted to the China International Economic and Trade Arbitration
Commission for arbitration and be arbitrated in Beijing, China in accordance with its
arbitration rules when such arbitration application was submitted. The arbitral award shall be
final and binding upon all Parties. Unless otherwise decided by the arbitration commission,
arbitration fees and other expenses in relation to such arbitration shall be borne by the
losing Party.
	 
	13.	 	Notice
	 
	13.1	 	Any notice or other communication sent by any Party shall be written in Chinese, and sent by
mail or facsimile transmission to the addresses of the other Parties set forth below or to
other designated addresses previously notified by any such other Party. If any Party changes
its address, it shall notify the other Parties of such change in a timely and effective
manner. The dates on which such notices are deemed to have been effectively given shall be
determined as follows:






	 	(A)	 	Notices given by personal delivery shall be deemed effectively given on the
date of personal delivery;
	 
	 	(B)	 	Notices sent by registered airmail (postage prepaid) shall be deemed
effectively given on the seventh (7th) day after the date on which they
were mailed (as indicated by the postmark);
	 
	 	(C)	 	Notices sent by a courier recognized by the Parties shall be deemed
effectively given on the third (3rd) day after they were sent to such
courier service agency; and
	 
	 	(D)	 	Notices sent by facsimile transmission shall be deemed effectively given on
the first business day following the date of transmission, as indicated on the
document.





Pledgee: [specify]

Address: [specify]

Fax: [specify]

Tel: [specify]




Pledgor I: [specify]

Address: [specify]

Fax: [specify]

Tel: [specify]




Pledgor II: [specify]

Address: [specify]

Fax: [specify]

Tel: [specify]





	14.	 	Schedule
	 
	14.1	 	The schedules contained herein constitute an integral part of this Agreement.




6









 






	15.	 	Effectiveness
	 
	15.1	 	This Agreement and any amendment, supplement or modification hereto shall be made in writing
and come into force upon execution and seal of the Parties.
	 
	15.2	 	This Agreement is made in Chinese with [specify number] copies.





	 	 	 
	Pledgor I: (signature and seal)

	 	Pledgee: (seal)
	 
	 	 
	 
	 	 
	Date of Execution: [specify]

	 	Legal representative or authorized agent

(signature and seal)
	 
	 	 
	 
	 	 
	 

	 	Date of Execution: [specify]
	 
	 	 
	 
	 	 
	Pledgor II: (signature and seal)
	 	 
	 
	 	 
	 
	 	 
	Date of Execution: [specify]
	 	 






Schedules:




1. Register of Shareholders of the Company

2. Certificate of Capital Contribution of the Company

3. Exclusive Technical Consultancy and Services Agreement





7