Document:

Exhibit 4.43

 

EQUITY OPTION
AGREEMENT

 

This Equity Option Agreement
(this “Agreement”) is entered in Beijing, the People’s Republic of China (“PRC”, excluding
the Hong Kong Special Administrative Region, the Macao Special Administrative Region and Taiwan, for the purposes of this Agreement)
and dated May 22nd, 2014, by and between the following
parties:

 

		(1)	PARTY A: beijing Jingwei sinan information technology
Co., ltd (the “WFOE”)

Registered Address: Suite 515,
North Building, Great Creativity Information Industry Garden, 18 Jiuxiaoqiao Middle Road, Chaoyang District Legal
Representative: Liu Jian

 

and

 

		(2)	PARTY B: LIU JIAN (the “Grantor”)

 

 PRC Identification
Card No: 310102197211124453

Address: Room
1504, No.2, Nong 138, Nandan Road, Xuhui District, Shanghai, PRC

 

(individually, a “Party”
and collectively, the “Parties”)

 

WHEREAS:

 

		A.	The WFOE is a wholly foreign-owned enterprise, duly established and registered in Beijing under
the laws of the PRC.

 

		B.	The Grantor currently holds 1% of the registered capital of Beijing Jingwei Zhihui Information
Technology Co.,Ltd (the “Jingwei Zhihui”), a limited liability company with a registered capital of RMB 1,000,000 (the
“Equity Interests”).

 

		C.	The Grantor entered into a Loan Agreement with the WFOE May 22nd, 2014 (the
“Loan Agreement”), pursuant to which the WFOE extended a loan in the amount of RMB 10,000 to the Grantor (the
“Loan”).

 

		D.	The Grantor has agreed to grant exclusively to the WFOE an option to acquire the Equity Interest
that has been registered in his name, subject to the terms and conditions set forth below.

 

Therefore,
through friendly negotiation based on equal and mutual benefit, the Parties agree as follows:

 

    	1

    	 

    

 

SECTION 1: GRANT OF THE OPTION

 

		1.1	Grant of Option

 

The Grantor hereby grants to the
WFOE an option (the “Option”) to acquire all or portion of his Equity Interest at the price equivalent to the
lowest price then permitted by PRC laws, and the WFOE shall make payment of such price by cancelling all or a same portion of the
Loan. The Option shall become vested as of the date of this Agreement.

 

		1.2	Term

 

This Agreement shall take effect
as of the Effective Date and shall remain in full force and effect until the earlier of (1) the date on which all of the Equity
Interests have been acquired by the WFOE directly or through its designated representative (individual or legal person); or (2)
the unilateral termination by the WFOE (at its sole and absolute discretion), by giving 30 days prior written notice to the Grantor
of its intention to terminate this Agreement.

 

		1.3	Consideration of Option

 

The Grantor acknowledges that the
WFOE’s provision of the Loan to the Grantor is deemed to be the consideration for the grant of the Option, the sufficiency
and payment of which have been acknowledged and recognized.

 

		1.4	EFFECTIVE DATE

 

This Agreement shall be effective
upon its being signed by the parties hereunder (“Effective Date”).

 

SECTION 2: EXERCISE OF THE OPTION AND ITS
CLOSING

 

		2.1	Timing of Exercise

 

		2.1.1	The Grantor agrees that the WFOE in its sole discretion may at any time, and from time to time
after the date hereof, exercise the Option granted by the Grantor, in whole or in part, to acquire all or any portion of his Equity
Interest.

 

		2.1.2	For the avoidance of doubt, the Grantor hereby agrees that the WFOE shall be entitled to exercise
the Option granted by the Grantor for an unlimited number of times, until all of his Equity Interest have been acquired by the
WFOE.

 

		2.1.3	The Grantor agrees that the WFOE may designate in its sole discretion any third party to exercise
the Option granted by the Grantor on its behalf, in which case the WFOE shall provide written notice to the Grantor at the time
the Option granted by the Grantor is exercised.

 

    	2

    	 

    

 

		2.2	Transfer

 

The Grantor agrees that the Option
grant by him shall be freely transferable, in whole or in part, by the WFOE to any third party, and that, upon such transfer, the
Option may be exercised by such third party upon the terms and conditions set forth herein, as if such third party were a party
to this Agreement, and that such third party shall assume the rights and obligations of the WFOE hereunder.

 

		2.3	Notice Requirement

 

		2.3.1	To exercise an Option, the WFOE shall send a written notice to the Grantor, and such Option is
to be exercised by no later than ten (10) days prior to each Closing Date (as defined below), specifying therein:

 

		2.3.1.1	The date of the effective closing of such acquisition
(a “Closing Date”);

 

		2.3.1.2	the name of the person in which the Equity Interests
shall be registered;

 

		2.3.1.3	the amount of Equity Interest to be acquired from the
Grantor;

 

		2.3.1.4	the type of payment; and

 

		2.3.1.5	a letter of authorization, if a third party has been
designated to exercise the Option.

 

		2.3.2	For the avoidance of doubt, it is expressly agreed among the parties that the WFOE shall have the
right to exercise the Option and elect to register the Equity Interest in the name of another person as it may designate from time
to time.

 

		2.4	Closing

 

On each Closing Date, the WFOE shall
make payment by cancelling all or a portion of the Loan payable by the Grantor to the WFOE, in the same proportion that the WFOE
or its designated party acquires the Equity Interest held by the Grantor.

 

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SECTION 3: COMPLETION

 

		3.1	Capital Contribution Transfer Agreement

 

Concurrently with the execution and
delivery of this Agreement, and from time to time upon the request of the WFOE, the Grantor shall execute and deliver one or more
capital contribution transfer agreements, each in the form and content substantially satisfactory to the WFOE (each, a “Transfer
Agreement”), together with any other documents necessary to give effect to the transfer to the WFOE or its designated
party of all or any part of the Equity Interest upon an exercise of the Option by the WFOE (the “Ancillary Documents”).
Each Transfer Agreement and the Ancillary Documents are to be kept in the WFOE’s possession.

 

The Grantor hereby agrees and authorizes
the WFOE to complete, execute and submit to the relevant company registrar any and all Transfer Agreements and the Ancillary Documents
to give effect to the transfer of all or any part of the Equity Interest upon an exercise of the Option by the WFOE at its sole
discretion where necessary and in accordance with this Agreement.

 

		3.2	Board Resolution

 

Notwithstanding Section 3.1 above,
concurrently with the execution and delivery of this Agreement, and from time to time upon the request of the WFOE, the Grantor
shall execute and deliver one or more resolutions of the board of directors and/or shareholders of the VIE Company, approving the
following:

 

		3.2.1	The transfer by the Grantor of all or part of the Equity Interest held by the Grantor to the WFOE
or its designated party; and

 

		3.2.2	any other matters as the WFOE may reasonably request.

 

Each Resolution is to be kept in
the WFOE’s possession.

 

		3.3	Waiver of Right of First Refusal

 

Upon the prior written request of
the WFOE, the Grantor shall waive any and all of his right of first refusal or other preemptive rights provided under the PRC laws
or the articles of association of the VIE Company with respect to the equity transfer conducted by any other shareholder of the
VIE Company.

 

		3.4	Return of Additional Consideration

 

If the WFOE or any transferee designated
by the WFOE is required by applicable laws or competent authorities to pay any additional consideration (i.e., the transfer price
is higher than the relevant registered capital of the VIE Company corresponding to the Equity Interest being transferred) to the
Grantor for its exercise of the Options, the Grantor agrees to return any and all of such additional consideration to the WFOE
or such transferee as soon as possible after the completion of such equity interest transfer.

 

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SECTION 4: REPRESENTATIONS AND WARRANTIES

 

		4.1	Representations and Warranties

 

The Grantor represents and warrants
to the WFOE that:

 

		4.1.1	he has the full power and authority to enter into, and perform under, this Agreement;

 

		4.1.2	his signing of this Agreement or fulfilling of any of his obligations hereunder does not violate
any laws, regulations and contracts to which he is bound, or require any government authorization or approval;

 

		4.1.3	there is no lawsuit, arbitration or other legal or government procedures pending which, based on
his knowledge, shall materially and adversely affect this Agreement and the performance thereof;

 

		4.1.4	he has disclosed to the WFOE all documents issued by any government department that might cause
a material adverse effect on the performance of his obligations under this Agreement;

 

		4.1.5	he has not been declared bankrupt by a court of competent jurisdiction;

 

		4.1.6	save as disclosed to the WFOE, his Equity Interest is free and clear from all liens, encumbrances
and third party rights;

 

		4.1.7	he will not transfer, donate, pledge, or otherwise dispose of his Equity Interest in any way unless
otherwise agreed by the WFOE;

 

		4.1.8	the Option granted to the WFOE by him shall be exclusive, and he shall in no event grant the Option
or any similar rights to a third party by any means whatsoever; and

 

		4.1.9	the Grantor further represents and warrants to the WFOE that he owns 70% of the Equity Interest
of the VIE Company. The Parties hereby agree that the representations and warranties set forth in Sections 4 (except for Section
4.1.9) shall be deemed to be repeated as of each Closing Date as if such representation and warranty were made on and as of such
Closing Date.

 

		4.2	Covenants and Undertakings

 

The Grantor covenants and undertakes
that:

 

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		4.2.1	he will complete all such formalities as are necessary to make the WFOE or its designated party
a proper and registered shareholder of the VIE Company. Such formalities include, but are not limited to, assisting the WFOE with
the obtaining of necessary approvals of the equity transfer from relevant government authorities (if any), the submission of the
Transfer Agreement(s) to the relevant administration for industry and commerce for the purpose of amending the articles of association,
changing the shareholder register and undertaking any other changes;

 

		4.2.2	he will, upon request by the WFOE, establish a domestic entity to hold the interests in the VIE
Company as a Chinese joint venture partner in case the VIE Company is restructured into a foreign-invested telecommunication enterprise;
and

 

		4.2.3	he will not amend the articles of association, increase
or decrease the registered capital, sell, transfer, mortgage, create or allow any encumbrance or otherwise dispose of the assets,
business, revenues or other beneficial interests, incur or assume any indebtedness, or enter into any material contracts, except
in the ordinary course of business (for the purpose of this paragraph, any contract with a value exceeding RMB 100,000 shall be
deemed to be a material contract).

 

SECTION 5: TAXES

 

Any taxes and duties that might arise from
the execution and performance of this Agreement, including any taxes and expenses incurred by and applicable to the Grantor as
a result of the exercise of the Option by the WFOE or its designated party, or the acquisition of the Equity Interest from the
Grantor, will be borne by the WFOE.

 

SECTION 6: GOVERNING LAW AND DISPUTE SETTLEMENT

 

		6.1	Governing Law

 

The execution, validity, performance
and interpretation of this Agreement shall be governed by and construed in accordance with the laws of the PRC.

 

		6.2	Friendly Consultation

 

If a dispute arises in connection
with the interpretation or performance of this Agreement, the Parties shall attempt to resolve such dispute through friendly consultations
between them or mediation by a neutral third party.

 

    	6

    	 

    

 

If the dispute cannot be resolved
in the aforesaid manner within thirty (30) days after the commencement of such discussions, either Party may submit the dispute
to arbitration.

 

		6.3	Arbitration

 

Any dispute arising in connection
with this Agreement shall be submitted to the China International Economic and Trade Arbitration Commission (“CIETAC”)
Beijing headquarter for arbitration. The arbitration shall follow the then current rules of CIETAC, and the arbitration proceedings
shall be conducted in Chinese and shall take place in Beijing. The arbitration award shall be final and binding upon the parties.
This article shall not be affected by the termination or elimination of this Agreement.

 

		6.4	Matters not in Dispute

 

In case of any disputes arising out
of the interpretation and performance of this Agreement or any pending arbitration of such dispute, each Party shall continue to
perform their obligations under this Agreement, except for the matters in dispute.

 

SECTION 7: CONFIDENTIALITY

 

		7.1	Confidential Information

 

The contents of this Agreement and
the annexes hereof shall be kept confidential. No Party shall disclose any such information to any third party (except for the
purpose described in Section 2.2 and by prior written agreement among the parties). Each Party's obligations under this clause
shall survive the termination of this Agreement.

 

		7.2	Exceptions

 

If a disclosure is explicitly required
by law, any courts, arbitration tribunals, or administrative authorities, such disclosure by any Party shall not be deemed a violation
of Section 7.1 above.

 

SECTION 8: MISCELLANEOUS

 

		8.1	Entire Agreement

 

		8.1.1	This Agreement constitutes the entire agreement and understanding among the Parties in respect
of the subject matter hereof and supersedes all prior discussions, negotiations and agreements among them. This Agreement shall
only be amended by a written instrument signed by all the parties.

 

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		8.1.2	The appendices attached hereto shall constitute an integral part of this Agreement and shall have
the same legal effect as this Agreement.

 

		8.2	Notices

 

		8.2.1	Unless otherwise designated by the other Party, any notices or other correspondences among the
parties in connection with the performance of this Agreement shall be delivered in person, by express mail, e-mail, facsimile or
registered mail to the following correspondence addresses and fax numbers:

 

Beijing Jingwei
Sinan Information Technology Co., Ltd

Address: Suite
515, North Building, Great Creativity Information Industry Garden, 18 Jiuxiaoqiao Middle Road, Chaoyang District

Fax: 86-10-64362600

Tel : 86-10-84481818

		Addressee	: Liu Jian

 

Liu Jian

Address: 1/F,
North Building, Great Creativity Information Industry Garden, 18 Jiuxiaoqiao Middle Road, Chaoyang Distric

Fax: 86-10-64362600

Tel : 86-10-84481818

 

		8.2.2	Notices and correspondences shall be deemed to have been effectively delivered:

 

		8.2.2.1	at the exact time displayed in the corresponding transmission
record, if delivered by facsimile, unless such facsimile is sent after 5:00 pm or on a non-business day in the place where it
is received, in which case the date of receipt shall be deemed to be the following business day;

 

		8.2.2.2	on the date that the receiving Party signs for the document,
if delivered in person (including express mail);

 

		8.2.2.3	on the fifteenth (15th) day after the date
shown on the registered mail receipt, if sent by registered mail;

 

		8.2.2.4	on the successful printing by the sender of a transmission
report evidencing the delivery of the relevant e-mail, if sent by e-mail.

 

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		8.3	Binding Effect

 

This Agreement, upon being signed
by the parties or their duly authorized representatives, shall be binding on the parties and their successors and assigns.

 

		8.4	Language and Counterparts

 

This Agreement shall be executed
in two (2) originals in English, with one (1) original for each party.

 

		8.5	Days and Business Day

 

A reference to a day herein is to
a calendar day. A reference to a business day herein is to a day on which commercial banks are open for business in the PRC.

 

		8.6	Headings

 

The headings contained herein are
inserted for reference purposes only and shall not affect the meaning or interpretation of any part of this Agreement.

 

		8.7	Singular and Plural

 

Where appropriate, the plural includes
the singular and vice versa.

 

		8.8	Unspecified Matter

 

Any matter not specified in this
Agreement shall be handled through mutual discussions among the parties and stipulated in separate documents with binding legal
effect, or resolved in accordance with PRC laws.

 

		8.9	Survival of Representations, Warranties, Covenants and Obligations

 

The respective representations, warranties,
covenants and obligations of the parties, as set forth in this Agreement or made by or on behalf of them, respectively, pursuant
to this Agreement, shall remain in full force and effect, regardless of any investigation (or any statement as to the results thereof)
made by or on behalf of any party, and shall survive the transfer and payment for the Equity Interest.

 

This Agreement has been signed by
the parties or their duly authorized representatives on the date first specified above.

 

[The space below is intentionally left blank.]

 

    	9

    	 

    

 

IN WITNESS WHEREOF,
the Parties hereto have caused this Agreement to be duly executed on their behalf by a duly authorized representative as of the
date first written above.

 

Beijing Jingwei Sinan Information Technology
Co., ltd

(Company Seal)

 

	By:	/s/ Liu Jian	 
	Authorized Representative: Liu Jian	 
	 	 
	Liu Jian	 
	 	 
	By:	 /s/ Liu Jian	 

 

[SIGNATURE PAGE TO EQUITY OPTION AGREEMENT]

 

    	10Exhibit 4.44

 

Framework Purchase Agreement

 

This Framework Purchase Agreement (this
“Agreement”) is entered into in Beijing, the People’s Republic of China (the “PRC”)
on October 28, 2014 by and among:

 

	Party A:	
        Tianjin Jinhu Media Co., Ltd. (“Jinhu”
        or the “Buyer”), a limited liability company duly incorporated and validly existing under the PRC laws, with
        its registered address at Unit 2101, 21/F Block C3, Area MSD-C, 79 First Avenue, Tianjin Economic and Technical Development Zone;

         

	Party B:	Liu Jian, a PRC citizen, ID Card No.: 310102197211124453;
	Party C:	Huang Hui (together with Party B, the “Original Shareholders”), a PRC citizen, ID Card No.: 320622197212230041;
	Party D:	Beijing Wole Information
    Technology Co., Ltd. (“Wole Tech” or the “WFOE”), a wholly foreign owned enterprise
    duly incorporated and validly existing under the PRC laws, with its registered address at Room 209, No. 18 Building, 18
    Jiuxiaoqiao Middle Road, Chaoyang District, Beijing;
	Party E:	Guangzhou Qianjun Internet Technology Co., Ltd. (“Qianjun” or the “Target”), a limited liability company duly incorporated and validly existing under the PRC laws, with its registered address at Room 802, 36 Jian Zhong Road, Tianhe District, Guangzhou;
	Party F:	RENREN INC. (“Renren,” together with the WFOE, the “Guarantors”), a company duly incorporated and validly existing under the laws of the Cayman Islands and listed on the New York Stock Exchange, with its registered address at PO Box 309, Ugland House, Grand Cayman, KY1-1104, Cayman Islands.

In this Agreement, the Buyer, the Original
Shareholders, the Target and the Guarantors shall be hereinafter referred to individually as a “Party,” collectively
as the “Parties.”

 

    	1

    	 

    

 

WHEREAS

 

		A.	Qianjun has a registered capital of RMB 20 million, which has been fully paid up. The Original
Shareholders hold in aggregate 100% equity interests in Qianjun, of which Liu Jian has contributed RMB 16 million, representing
80% equity interests in Qianjun, and Huang Hui has contributed RMB 4 million, representing 20% equity interests in Qianjun. The
business scope of Qianjun is: data processing and storage service; software development, software services; computer technology
development and technical services; information electronic technology service; information system integration service; research
and development of network technology; design of integrated circuit; production of digital animation; design and production of
game software; multi-media design services; design services of animation and derivative products; book data process technology
development; cultural and entertainment brokerage; phonotape and videotape brokerage and agency; literature, art (painting) brokerage
and agency; commodity information consulting services; animation (cartoon) brokerage and agency; design services for electronic
products; copyright services; information technology consulting services; advertising; literary and artistic creation services;
cultural and artistic consulting services; planning of literature and artistic performance and contests attended by the public
and such other public interest activities; organization and planning of big events (big events mean evening parties, athletic meetings,
ceremonies, artistic and model contests, art festival, movie festival and public interest performance and exhibitions, etc.; events
subject to specific approvals shall be carried out only after such approvals have been obtained); planning and creative services;
marketing planning services; corporate image planning services; wholesale trading of commodities (except for the commodities subject
to approvals and permits); retail trading of commodities (except for the commodities subject to approvals and permits); value-added
telecommunications service (the category of the business shall be subject to the value-added telecom service license); cross-region
value-added telecom services (the category of the business shall be subject to the value-added telecom service license); online
music services; online movie services, online animation services; online video services; online game services; the information
network dissemination of audio-video programs; production of radio and TV programs (detailed business scope shall be subject to
the Radio and TV Program Production and Business Operation License);

 

		B.	Qianjun owns 100% equity interests in Beijing Wole Shijie Information Technology Co., Ltd. (a limited
liability company duly incorporated and validly existing under the PRC laws, the “Wole Shijie” or the “Target’s
Subsidiary”).

 

		C.	Renren indirectly owns 100% equity interests in Wole Technology, and Wole Technology and Qianjun
have entered into a series of contractual arrangements (the “Contractual Arrangements”) as set forth in Exhibit
5 hereof;

 

		D.	The Buyer intends to purchase the 100% equity interests held by the Original Shareholders in Qianjun,
and agrees to assume part of Qianjun’s liabilities as agreed herein (the “Transaction”);

 

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		E.	Qianjun owes the outstanding liabilities (the “Group Liabilities”) set forth
in Exhibit 7 toward the WFOE, Renren or its affiliates (collectively the “Group Creditors”), and each of the
Group Creditors intends to exempt Qianjun from part of the Group Liabilities according to the arrangements set forth in Exhibit
7;

 

		F.	The Buyer has no intention to hold equity interests in the Target’s Subsidiary, and the Target
intends to transfer 100% equity interests it holds in the Target’s Subsidiary to a third party unaffiliated with either the
Target or the Buyer;

 

		G.	The Buyer and the Original Shareholders intend to execute an equity interest transfer agreement
in the form set forth in Exhibit 1 (the “AIC Equity Transfer Agreement”) to be submitted to the Administration
for Industry and Commerce (AIC) and such other competent authority for registration procedures.

 

In consideration of the above, the
Parties agree as follows upon extensive negotiations:

 

Article
1     Target and Target Equity

 

		1.1	Target

 

		1.1.1	The Parties jointly acknowledge that the Target involved in the Transaction is Qianjun (business
license No.: 440106000172727, legal representative: Liu Jian);

 

		1.1.2	Each of the Original Shareholders and Guarantors acknowledges to the Buyer that the shareholding
structure of the Target up to the actual controller is as follows:

 

		(a)	The original Shareholders hold in aggregate 100% equity interests in Qianjun, of which Liu Jian
holds 80% and Huang Hui holds 20%;

 

		(b)	Renren holds 100% equity interests in Wole Inc., a company duly incorporated and validly existing
under the laws of the Cayman Islands (the “Caymanco”);

 

		(c)	The Caymanco holds 100% equity interests in Wole Technology.

 

		1.1.3	Wole Technology, Qianjun, Liu Jian and Huang Hui have executed the Contractual Arrangements set
forth in Exhibit 5.

 

		1.2	Target Equity. The Original Shareholders agree to sell to the Buyer, and the Buyer agrees
to purchase from the Original Shareholders, 100% equity interests in Qianjun held by the Original Shareholders subject to the terms
and conditions of this Agreement (the “Target Equity”), which shall include the 80% equity interests held by
Liu Jian and 20% held by Huang Hui.

 

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Article
2     Transaction Price

 

		2.1	Total Transaction Price. The total transaction price (the “Transaction Price”)
shall be the RMB equivalent of US$ 25 million, i.e. the sum of (i) the transfer price of the Target Equity (the “Transfer
Price”) and (ii) the liabilities owed by the Target toward the Group Creditors as repaid by the Buyer on behalf of the
Target (the “Repaid Debts”). Out of the Transaction Price, the total Transfer Price is in the amount of RMB
20 million, and the total Repaid Debts shall be the difference between the RMB equivalent of US$ 25 million and RMB 20 million.
For the avoidance of doubt, any amounts mentioned in this Article 2 shall be calculated based on the benchmark exchange rate published
by the People’s Bank of China (PBOC) on the date of payment.

 

		2.2	Calculation Formula and Time of Payment of the Transaction Price. The Parties agree that
the Transaction Price shall be paid by the Buyer to the Original Shareholders and the Target in two instalments according to the
following schedule:

 

		2.2.1	First instalment of payment (the “First Payment”): including: (1) 80% of the
Transfer Price (i.e. RMB 16 million) shall be paid by the Buyer to each of the Original Shareholders according to their respective
percentage of the Target Equity to be transferred; and (2) 80% of the Repaid Debts shall be paid by the Buyer to the Group Creditors
to repay the debts owed by the Target to the Group Creditors.

 

The First
Payment shall be made in one lump sum to each of the Original Shareholders and the Group Creditors within 15 working days after
the date on which all the precedent conditions set forth in Article 4.1.2 hereof have been satisfied, or waived by the Buyer.

 

		2.2.2	Second instalment of payment (the “Second Payment”): including: (1) 20% of the
Transfer Price (i.e. RMB 4 million) shall be paid by the Buyer to each of the Original Shareholders according to their respective
percentage of the Target Equity to be transferred; and (2) 20% of the Repaid Debts shall be paid by the Buyer to the Group Creditors
to repay the debts owed by the Target to the Group Creditors.

 

The Second
Payment shall be made in one lump sum to each of the Original Shareholders and the Group Creditors within 15 working days after
the date on which all the precedent conditions set forth in Article 4.2 hereof have been satisfied, or waived by the Buyer.

 

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		2.3	Payment of the Transaction Price. The Transaction Price shall be paid to the bank accounts
designated by each of the Original Shareholders and the Group Creditors in writing pursuant to Article 2 hereof.

 

Article
3     Transfer and Closing of the Target Equity

 

		3.1	Transfer of Target Equity. The Parties hereby agree that the ownership of the Target Equity and
any rights and interests relating to or originating from such ownership shall all be transferred to the Buyer on the date when
the change registration of the Target Equity is completed with the AIC, and thereafter such ownership, rights and interests shall
be enjoyed by the Buyer. The Buyer shall provide necessary assistance to complete the change registration procedures for the transfer
of the Target Equity.

 

		3.2	Closing. The Buyer shall make the First Payment of the Transaction Price to the Original Shareholders
and the Target pursuant to this Agreement (the “Closing”), the date on which the First Payment is made being
the closing date (the “Closing Date”). The Buyer shall complete the Second Payment after the Closing as provided
in the above Article 2.2.2.

 

Article
4     Closing Conditions and Post-Closing Obligations

 

		4.1	Closing Conditions

 

		4.1.1	General Precedent Conditions. Unless waived by the Buyer in writing, the Buyer’s performance
of its obligation to make the First Payment hereunder shall be conditional upon and subject to the satisfaction of all the following
conditions:

 

		(1)	as of the date when the First Payment is made, the Target and its business having been operated
in the ordinary course, other than the adjustments to its business, assets and employees made pursuant to this Agreement; no events
or circumstances have occurred to the Target (including without limitation, in respect of its financial situation, performance,
general operation situation or equity/shares) that have been known or may be expected to have material adverse effect on the Transaction,
and no material adverse changes have occurred to the assets, business operations, financial and staff situation of the Target;

 

		(2)	there being no pending or threatened legal, regulatory or government proceedings, disagreements,
claims for compensation or such other claims that may prohibit, affect, restrict, interfere or prevent the consummation of the
Transaction;

 

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		(3)	there being no effective laws or regulations that prohibit, affect, restrict, interfere or prevent
the consummation of the Transaction, or otherwise bring negative impact on all or substantial portions of the rights and ability
of the Target to own, operate or control its business or assets (except for the matters already disclosed in the Disclosure Schedule
set forth in Exhibit 14);

 

		(4)	the Original Shareholders having taken obtained all necessary internal and external consents and
authorizations duly approving the execution, delivery and performance of this Agreement and the consummation of the Transaction
contemplated hereunder, and each of the Original Shareholders having waived in writing any right of first refusal they may have
with respect to the Target Equity; and

 

		(5)	as of the date when the First Payment is made, the representations and warranties made by the Original
Shareholders, Qianjun and the Guarantors being all true, accurate and complete, and they have performed and complied with any of
their respective obligations and covenants hereunder.

 

		4.1.2	Conditions precedent to First Payment. Subject to the satisfaction of the general precedent
conditions provided in Article 4.1.1, the Buyer’s obligation to make the First Payment shall also be subject to and conditional
upon the satisfaction, or waiver in writing by the Buyer, of each of the following conditions:

 

		(1)	Due Execution. Each of the Parties having duly executed this Agreement;

 

		(2)	Termination of Contractual Arrangements. All the Contractual Arrangements executed by and
among the Target, the Original Shareholders, Wole Technology and such other relevant parties with respect to the control of the
equity interests of the Target having been terminated, including without limitation the equity option agreement, the equity pledge
agreement, the exclusive service agreement (if any), etc., and the Buyer shall have been provided with the executed version of
the termination agreements for the Contractual Arrangements as set forth in Exhibit 6 and to the satisfaction of the Buyer;

 

		(3)	Deregistration of Equity Pledge. The equity pledge created by the Target for the benefits
of Wole Technology as the pledgee having been released, and the equity pledge deregistration notice issued by the AIC shall have
been obtained;

 

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		(4)	Disposal of Group Liabilities. The Letter of Acknowledgement on Disposal of the Group Liabilities
set forth in Exhibit 7 hereof having been executed by and among Beijing Thousand Oaks Netscape Technology Development Co., Ltd.
(“Thousand Oaks Netscape”), the Target, the Original Shareholders, the Guarantors and the Buyer;

 

		(5)	New AOA. The Target having adopted a new articles of association (the “New AOA”)
in a form and substance as set forth in Exhibit hereof, and having provided the Buyer with the New AOA affixed with the company
chop;

 

		(6)	AIC Change Registration. The Original Shareholders having submitted to the competent AIC
the executed AIC Equity Transfer Agreement as set forth in Exhibit 1 and the application documents for changing the directors,
managers, supervisors and legal representative of Qianjun as required by the Buyer, having completed the AIC change registration
and filing procedures for the said equity transfer and related matters, and having provided the Buyer with relevant proving documents;

 

		(7)	Mutual Service Agreement for Transitional Period. The Target having entered into the mutual
service agreement for transitional period as set forth in Exhibit 9 hereof with Wole Technology, Thousand Oaks Netscape and the
Buyer;

 

		(8)	Business Cooperation Agreement. The Target having entered into the business cooperation
agreement as set forth in Exhibit 10 hereof with Wole Technology, Thousand Oaks Netscape and the Buyer;

 

		(9)	Transfer of Target’s Subsidiary. The Target having entered into the equity interest
transfer agreement with a third party unaffiliated with the Target or the Buyer, to transfer 100% equity interests of the Target’s
Subsidiary held by the Target to such third party, and having completed the AIC registration procedures with respect thereto;

 

		(10)	Financial Statement. The Buyer having received the authentication report of Qianjun on its
annual tax declaration of enterprise income tax for the year 2013, and the unaudited financial statements for the period from January
1, 2014 to September 30, 2014, both submitted by the Target and issued by an auditing firm acceptable by the Buyer (collectively
the “Financial Statements”);

 

		(11)	Provision of Information. Upon the request of the Buyer, the Original Shareholders, the
Target and the Guarantors having provided the Buyer with all the information requested by the Buyer and its advisors for conducting
financial, business and legal due diligence investigations on the Target;

 

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		(12)	Handover of Assets and Materials. The Guarantors, the Original Shareholders and the Buyer
shall take over each of the existing assets (please refer to the list of assets set forth in Exhibit 8) of the Target one by one,
and the Guarantors and the Original Shareholders shall have handed over to the Buyer the assets listed in Exhibit 8 and the certificates,
agreements, managerial information and such other documents relating to such assets, including without limitation list of copyrights
for video programs, domain name registration certificates, domain name management information, trademark registration certificate,
trademark application acceptance notice, application documents for trademark registration, computer software copyright certificates,
etc. In addition, on the date when the change registration of the Target has been completed at the AIC, the Guarantors, the Target
and the Original Shareholders shall have handed over the following materials to the person designated by the Buyer in writing:
(1) all permits relating to the business operations of the Target, common seal, seals for contractual purposes, financial seals,
bank account details, materials relating to normal purchase of invoices and tax declaration and other tax declaration related materials,
including without limitation those set forth in the list of handed over documents in Exhibit 11; and (2) the originals of all contracts
and such other relevant contracts executed by the Target, including without limitation the business contracts, labor contracts,
service agreements, etc.;

 

		(13)	Condition Satisfaction Certificate. The Original Shareholders, Qianjun and the Guarantors
having jointly executed and issued to the Buyer a condition satisfaction certificate as set forth in Exhibit 4 hereof, acknowledging
that all conditions precedent to the making of the First Payment under Articles 4.1.1 and 4.1.2 have been satisfied.

 

		4.2	Post-Closing Obligations. After the completion of the Closing and subject to the satisfaction,
or the waiver in writing by the Buyer, of each of the following conditions within 18 months upon the date hereof, the Buyer shall
complete the Second Payment. If any of the following conditions fails to be satisfied in such 18-month period, the Original Shareholders,
Guarantors and the Buyer may negotiate in good faith to agree upon a longer period or another plan, and the Buyer may not need
to make the Second Payment until each of the following conditions has been satisfied; provided that: (i) if such failure in satisfaction
is not caused by a fault of the Original Shareholders or the Guarantors, the Buyer shall make the Second Payment after such conditions
are satisfied; (ii) if such failure in satisfaction is caused by a fault of the Original Shareholders or the Guarantors, the Buyer
shall be entitled to make the Second Payment after deducting therefrom the actual loss thus suffered by the Buyer after such conditions
are satisfied:

 

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		4.2.1	First Payment. The conditions precedent to the making of the First Payment having all been
completed;

 

		4.2.2	Transfer of Woxiu. The Guarantors shall have transferred the business of the website of
Woxiu (http://www.woxiu.com, “Woxiu”) from Qianjun to a third party unaffiliated with Qianjun in a manner agreed
in the mutual service agreements for transitional period as set forth in Exhibit 9; if he mutual service agreements for transitional
period fails to stipulate the manner of such transfer, the transfer shall be completed in such other manner separately entered
into by the Parties, and the Guarantors shall make sure that Woxiu and its business entity shall file an application to relevant
competent authority with respect to the operating qualifications registered under the name of Qianjun within one month after the
Closing of this Agreement, and shall provide the Buyer with the proof evidencing that such application has been duly submitted,
including the application for domain name filing and Internet cultural business license. the Guarantors shall make sure that as
of the date hereof, any liabilities and obligations arising from the business relating to Woxiu shall be assumed by Renren, and
the Guarantors shall indemnify Qianjun, the Buyer or the affiliates thereof, jointly and severally, for any liabilities and obligations
arising from the business relating to Woxiu at any time (including any time prior to the execution hereof).

 

		4.2.3	Government Approvals. This Agreement (and any documents executed pursuant to this Agreement)
and all transactions hereunder shall have obtained all necessary government approvals, registrations and filings, including without
limitation:

 

		(a)	Shareholder Change Registration for Audio-Video Program License. The State Administration
of Press, Publication, Radio, Film and Television (“SAPPRFT”) having issued approvals with respect to the shareholder
change of the License for Information Network Dissemination of Audio-Video Programs (the “Audio-Video Program License”),
and Qianjun shall have complete the record riling with SAPPRFT in respect of the change of its legal representative;

 

		(b)	Telecom Business License. Qianjun shall have obtained the approval from Guangdong Communications
Administration and Ministry of Industry and Information Technology with respect to the change in its equity interests, and have
obtained the newly issued Value Added Telecom Business License (Guangdong province) and Value Added Telecom Business License (national)
(collectively the “Telecom Business License”);

 

    	9

    	 

    

 

		(c)	Internet Cultural Business License. Qianjun having handled the change registration procedures
for Internet Cultural Business License at Department of Culture of Guangdong Province with respect to its equity change;

 

		(d)	Radio and TV Program Production and Business Operation License. Qianjun having obtained
the approval from the Press, Publication, Radio, Film and TV Administration of Guangdong Province with respect to its change of
legal represtantive and shareholders; Qualification Certificate for Internet Drug Information Services. Qianjun having obtained
the approval from Guangdong Food and Drug Administration with respect to its change of legal representative and such other matters;

 

		(e)	Other Approvals. The Target having completed the change registration procedures for Social
Insurance Registration Certificate, Organization Code Certificate, Tax Registration Certificate and opening of housing fund, and
such other procedures that should be completed as a result of the equity change and such other matters hereunder.

 

		4.2.4	Business and Asset Transfer. The Original Shareholders and the Guarantors shall deliver the assets
and business that the Buyer requires to be used in operating 56.com from Wole Technology, Wole Shijie or Thousand Oaks Netscape
(an affiliate of Renren) Shanghai Branch to Qianjun, and the Buyer will provide necessary assistance for accepting such assets
and business. The Buyer will propose detailed handover plan to the Original Shareholders and the Guarantors during the period from
the date hereof to the Closing Date; before the Buyer provides the handover plan, the Original Shareholders and the Guarantors
need to do their best to assist the Buyer in reviewing relevant assets and business and formulating the handover plan.

 

		4.2.5	Condition Satisfaction Certificate. The Original Shareholders, Qianjun and the Guarantors
having jointly executed and issued to the Buyer a condition satisfaction certificate as set forth in Exhibit 4 hereof, acknowledging
that all conditions precedent to the making of the Second Payment under Articles 4.2 have been satisfied.

 

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Article
5     Representations and Warranties

 

		5.1	Representations and Warranties of the Original Shareholders, the Target and the Guarantors.
Except those disclosed in the Disclosure Schedules of Exhibit 14, the Original Shareholders, the Target and the Guarantors
hereby severally and jointly represent and warrant to the Buyer that as of the date hereof and as of the Closing Date:

 

		(1)	Organization and Creditability. Qianjun is a limited liability company duly incorporated
and validly existing under the PRC laws, with its registered capital being fully paid up and it has good credit status; Qianjun
is qualified to conduct all businesses stated in its business license according to the PRC laws. All business qualifications owned
by Qianjun are listed in Exhibit 3 List of Business Qualifications. Wole Shijie is a limited liability company duly incorporated
and validly existing under the PRC laws, with its registered capital being fully paid up and it has good credit status; Wole Shijie
is qualified to conduct all businesses stated in its business license according to the PRC laws. Qianjun lawfully holds 100% of
equity interests in Wole Shijie, and such equity interests are free of any encumbrances, and there exist no pending, threats or
potential disputes, claims, prosecution, arbitration, enforcement, administrative procedures or other legal proceedings in any
aspects on such equity interests.

 

		(2)	The Legal Rights of the Original Shareholders on the Target. The Original Shareholders collectively
hold 100% of equity interests in Qianjun, in which Liu Jian holds 80% and Huang Hui holds 20%; The Original Shareholders are the
only rightful owner of the above mentioned equity interests, who have the right to transfer the target equity interests. In addition
to this Agreement (including its Exhibits) and the articles of association of Qianjun, the Original Shareholders have not reached
any written or oral agreements, contracts or other conventions on Qianjun's equity interests (including the Target Equity), voting
right, Shareholders’ rights, rights of disposition, rights of control or transfer of income, or such agreements, contracts
or other conventions (if any) have been terminated.

 

		(3)	No Defects. In addition to the equity pledge and stock purchase right under the Contractual
Arrangements, all equity interests of Qianjun (including the Target Equity) do not exist any encumbrances, and such equity interests
do not, in any aspects, exist any pending, threats or potential disputes, claims, prosecution, arbitration, enforcement, administrative
procedures or other legal proceedings.

 

		(4)	No Barriers. There is no existence of any matters that may result in any delay, restriction
or impediment to the performance of the Original Shareholders, Qianjun and the Guarantors under this Agreement.

 

    	11

    	 

    

 

		(5)	Authorization; Effectiveness. The Original Shareholders, Qianjun and the Guarantors have
all necessary powers and rights to execute this Agreement and perform the duties hereunder; The Original Shareholders, Qianjun
and the Guarantors have appropriately obtained all company authorizations and other applicable governmental, statutory, administrative
or other consent, permit, waiver or immunity to execute and perform the duties under this Agreement; Upon its effectiveness, this
Agreement will constitute a legal, valid and binding document among the Original Shareholders, Qianjun and the Guarantors and is
compulsorily executed to the Original Shareholders, Qianjun and the Guarantors.

 

		(6)	Conflict-free. Both the execution and delivery of the Original Shareholders, Qianjun and
the Guarantors, and their performance under this Agreement will not: (a) result in any violation of the PRC laws; (b) conflict
with the articles of association or other organizational document of Qianjun, Wole Visual or Wole Tech; (c) result in any violation
of agreements or documents with the Original Shareholders, Qianjun and the Guarantors being one party, or constitute a breach of
agreements with the Original Shareholders, Qianjun and the Guarantors being one party or other binding documents; (d) result in
violation of any conditions that Qianjun requires to obtain any license or grant and/or renew of any permit; (e) result in any
of Qianjun's licenses or permits being suspended, revoked or subjoin conditions.

 

		(7)	Licenses and permits. Qianjun have obtained all necessary or appropriate licenses (including but
not limit to governmental approval) and permits it requires to conduct any of its current businesses; Each item of these licenses
and permits is fully valid and binding, qualified passes all kinds of examinations the government required for these licenses and
permits such as annual inspection, does not exist any suspension, rescission, revocation, cancellation, restriction or violation
of any pending administrative or other procedures of the above mentioned licenses and permits; In addition to the information disclosed
in Exhibits 14 Disclosure Schedules, Qianjun does not receive any governmental notice in written or oral forms, to inform that
it violates any regulations under these licenses and permits (except for the violations that has been settled and did not cause
subsequent adverse impacts on Qianjun), and Qianjun does not exist any fine or penalty that related to the above mentioned licenses
and permits or any fine or penalty that should be paid but unpaid by the Target due to violation of the above mentioned licenses
and permits.

 

		(8)	Financial information. The Original Shareholders have provided the Buyer with Qianjun's
financial report, including balance sheets, statements of cash flows and statements of loss/income. The financial information of
the Company and each of its subsidiaries disclosed in the financial reports is true, accurate and complete as of their dates, respectively,
and is in accordance with US GAAP.

 

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		(9)	No undisclosed debt. The financial report includes the complete and accurate description
of all the loan, debt, liabilities and guarantee incurred or reasonably expected to incur by Qianjun as of the signing date, including
but not limited to any outstanding loan/borrowing by Qianjun from any of the Original Shareholders and/or any third party, and
any third-party guarantee made by Qianjun for any of the Original Shareholder or any thir-party liabilities or their interest;
except for the debt reflected in the financial report, there is no any other actual or contingent liabilities against or in relation
to Qianjun or its assets and properties, or could affect Qianjun or its assets and properties, such liabilities do not include
any single debt incurred in the ordinary course of business with an amount less than RMB50,000 or an aggreagte amount no more than
RMB150,000; further, Qianjun is not a guarantor, party to compensate, promisor or any other obligor on any liabilities of the Original
Shareholder, Guarantors or any third-party. Among these, all the group debt undertaken by Qianjun to the Original Shareholders,
Guarantor and their respective affiliates as shown in Exhibit 7 Confirmation Letter of Group Debt, after the Buyer makes the payment
to the group creditor to settle the the debt owed by the Target to the group creditor pursuant to Article 2.2 of this Agreement,
Qianjun owes no outstanding debt to each of the Guarantors and their affiliates.

 

		(10)	Non-compete. Except for the interest in Qianjun, the Original Shareholders and Guarantor
and their respective affiliates do not directly or indirectly engage in the business that competes with Qianjun's primary business,
nor do they directly or indirectly control other companies that engage in the business that competes with Qianjun's primary business
or have interest in such companies.

 

		(11)	Disclosure. All the important documents, representations and information in relation to
the transactions contemplated hereunder owned by the Original Shareholders or the Target and their affiliates have been truly,
accurately and thoroughly disclosed to the Buyer, and the documents provided by them to the Buyer previously do not include any
misrepresentation on the important facts.

 

		(12)	No Winding-up.。No
order has been made or proceedings commenced or resolution passed for the winding up of Qianjun. There is no mortgage, enforcement
of court decision or subpeona against Qianjun's assets. Qianjun is not in a situation where it is unable to repay any debt payable.

 

    	13

    	 

    

 

		(13)	Taxes and fees. Qianjun has fully paid the taxes and fees payable that become due as required
by the state and local tax authorities. Qianjun is not in a situation where it is required to pay any additional taxes and fees.
Qianjun has not been punished for violating the relevant tax laws, rules and regulations.

 

		(14)	Tangible personal properties. Qianjun legally possesses, owns, or legally leases or pursurant
to legally binding documents is entitled to use all the tangible personal properties in the course of its business, including all
the tangible personal properties reflected in the financial report (“Tangible
Personal Properties”); all Tangible Personal Properties
are not subject to any encumbrances and are under normal operating conditions (except for normal wear and tear); the use of the
Tangible Personal Properties is complied with PRC laws in all aspects.

 

		(15)	Immovable properties. Qianjun does not own any title of immovable properties.

 

		(16)	Intellectual properties. Exhibit 8 completely sets out the assets owned by Qianjun (including
Tangible Personal Properties and intellectual properties); Qianjun has ownership and the full right to use the intellectual properties
held by Qianjun or is necessary for its current business or in relation to its business (“Company's
Intellectual Properties”) and is not subject to the impact
or restriction of any encumbrance; Qianjun has not permit or authorize any third party to use any Company's Intellectual Properties;
except for the information disclosed in Exhibit 14 Disclosure Schedules, prior to the Closing Date, Qianjun is not a party to any
ongoing or pending court or arbitration proceedings in relation to intellectual property infringement.

 

		(17)	Legal and administrative actions. There is no pending or threatened legal or administrative
actions against or could affect Qianjun or its assets, rights, license holder qualifications, operation or business; there is no
incident, circumstance or situation that could directly or indirectly leads to the commencement of such legal or administrative
actions, or serves as grounds of uch legal or administrative actions; Qianjun has been and is complied with all the laws and regulations
applicable to its business operation or asset management; no incident, circumstance or situation occurred that is reasonbly expected
to constitute or directly/indirectly lead to the violation of any of the foregoing laws and regulations; Qianjun has never received
any notice of non-compliance from any party (including any government administrative departments).

 

		(18)	Compliance with laws. Qianjun has never violated any PRC laws, including but not limited
to any laws in relation to the Company's business oepration, tax or its employee tax.

 

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		(19)	Employee arrangement. Exhibit 12 sets out the information of all the employees with
                                                                 Qianjun and 56.com, including but not limited to their names, employers, date of commencement of work, place of work and
                                                                 whether they are key employees. As to the other employees set out in Exhibit 12 that are not in employment relation with
                                                                 Qianjun, the Buyer shall confirm the list of employees that will be retained by Qianjun or any other affiliate designated by
                                                                 the Buyer and the list of employees that will not be retained no later than December 31, 201. Renren Inc. and/or the Original
                                                                 Shareholders shall make sure that over 70% of the key employees that will be retained (“Key
                                                                 Employees to be Retained”) enter into form
                                                                 employment agreement designated by the Buyer with Qianjun or any other affiliate designated by the Buyer, and the
                                                                 compensation and benefits stipulated in such employment agreement shall not be lower than the compensation and benefits
                                                                 granted to such Key Employees to be Retained before they enter into employment agreement with Qianjun or any other affiliate
                                                                 of the Buyer. As to the employees who are not with Qianjun and will not be retained by the Buyer, Renren Inc. and/or the
                                                                 Original Shareholders shall assist the Buyer in completing the relevant legal formalities to dismiss the employment relation
                                                                 with such employees. Before the Buyer makes the decision, the compensation to be granted to the other employees who are not
                                                                 with Qianjun, and after the Buyer makes the decision, the monetary compensation and other necessary expenses incurred by the
                                                                 affiliate of Renren Inc. in dismissing the employment relation with the employees who are not with Qianjun, shall be borne by
                                                                 the Buyer.

 

		(20)	General matters in relation to employees. Qianjun has entered into formal written employment
agreements with all of its employees, and signed non-compete agreements, intellectual property assignment and confidentiality agreements
with the key employees who have access to any of the Company's Intellectual Properties; Qianjun is in full compliance with all
the relevant legal requirements in relation to recruiting or engaging the employees, including but not limited to all the PRC legal
requirements on employment agreement, wages, working hours, health and safety, statutory social insurance benefits and hiring foreign
employees, etc; there is no any pending labor dispute or legal proceeding against Qianjun or could affect Qianjun; no employee
is entitled to an early termination of the employment or engagement arrangement with the Company. Qianjun does not have (or intend
to adopt) any share incentive plan, share option plan or profit distribution, bonus, commission or other incentive plan for all
or any of its directors or employees.

 

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		(21)	Material contracts. Qianjun has provided the Buyer with all the important business, asset
and financing contracts in relation to its business operation (collectively “Material
Contracts”); all the Material Contracts are legal, valid,
binding and enforceable to the parties thereto, and Qianjun and other parties to the Material Contracts have never breaches the
contracts in the course of performing their contractual obligations.

 

		(22)	Connected transactions. All the connected transaction conducted by Qianjun are in compliance
with PRC laws and the generally accepted business principles.

 

		5.2	The Buyer's representations and warranties. The Buyer makes the following representations
and warranties to the Original Shareholders and Guarantors that during the signing date of this Agreement and the payment date
of the second installment (including the signing date and the Closing Date) :

 

		(1)	Organization and existence. The Buyer is a limited liabiilty company duly incorporated and
validly existing under the PRC law, and is in good standing.

 

		(2)	Power and authoriy. The Buyer has the requisite capacity and authority to execute this Agreement
and to perform its obligations hereunder. The Buyer has appropriately and legally obtained the requisite Company's authorization
and all the other applicable governmental, statutory, administrative or other approval, license, waiver or exemption that permits
the Buyer to execute this Agreement and to perform its obligation hereunder. Once this Agreement takes effect, it shall become
a legal, valid and binding document to the Buyer and the Buyer can be enforced to perform the obligations under this Agreement
pursuant to its terms.

 

		(3)	No impediment. There is no such incident that will cause or is likely to cause any delay,
restriction or impediment in the Buyer's performance of the obligations under this Agreement.

 

		(4)	No conflict. Neither the execution and delivery of this Agreement by the Buyer, nor the
performance of the obligations under this Agreement by the Buyer will: (a) leads to the violation of any PRC laws; (b) conflict
with the Buyer's articles of association or other organizational documents; (c) result in breach of any contract or documents to
which the Buyer is a party or which is binding to the Buyer, or constitute default under any contract or documents to which the
Buyer is a party or which is binding to the Buyer.

 

		(5)	Legitimate source of funds. All the funds the Buyer uses in this acquisition are legally
sourced.

 

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		5.3	Persistence of representations and warranties. Any representations and warranties under
this Agreement and submitted pursuant to this Agreement shall continue to be valid after the signing of this Agreement and the
completion of the transfer of the target equity interest contemplated under this Agreement.

 

Article
6     Covenants

 

		6.1	Covenants as of the Closing Date. Each of the Original Shareholders, Qianjun and Guarantors,
jointly and severally, covenant to the Buyer that:

 

		(1)	from the date hereof to the date of the First Payment, unless otherwise expressly provided herein
or agreed by the Buyer in writing, Qianjun shall and the Original Shareholders and the Guarantors shall cause Qianjun to: (a) operate
business consistent with past practices and prudent business practices in the ordinary course of business, (b) maintain sufficient
working capital to ensure the business operation of Qianjun, (c) use its best efforts to maintain all the assets for the interests
of Qianjun, and (d) maintain its relationship with its suppliers, customers, business partners and employees.

 

		(2)	without limiting the foregoing, without the prior written consent of the Buyer, Qianjun shall not,
and the Original Shareholders and Guarantors shall cause Qianjun not to:

 

		(a)	take any actions that may be reasonably expected to result in the failure of any of the conditions
precedent to the Closing set forth in Article 4 to be satisfied as of the Closing Date;

 

		(b)	conduct any acts/omissions that could materially and adversely affect Qianjun's business operation
and asset value;

 

		(c)	sell, transfer, mortgage or otherwise dispose of any legal or beneficial interest in any of Qianjun's
assets (including tangible and intangible assets), business or income, or create or allow to be creates any other encumbrance on
any of its assets;

 

		(d)	merge with, acquire assets from, or invest in any other person;

 

		(e)	incur, inherit or assume any debt, excluding the debt incurred during normal or ordinary course
of business (excluding the debt generated by borrowing or contingent liabilities incurred by providing guaranty);

 

		(f)	enter into any material contract (for the purpose of this paragraph, a contract with a value exceeding
RMB 500,000 or relating to the company's intellectual property rights shall be deemed as a material contract);

 

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		(g)	increase the salary of an individual employee by over 30%, which causes the annual salary of such
employee to exceed RMB 100,000 after the pay rise;

 

		(h)	formulate or adopt any new benefits plan; or

 

		(i)	distribute any dividends in any form to any of the shareholders of Qianjun.

 

To avoid
affecting the normal operation of the company, where any of the foregoing events happens, either the Original Shareholders or Qianjun
shall apply in writing to the Buyer, and shall conduct such actions only after obtaining the Buyer's written approval. However,
whether the Buyer approves or not, the Buyer shall make a decision within 3 working days after receiving the application, and give
written notice to the applicant; where the applicant does not receive written notice within 3 working days after making the application,
it shall be deemed that the Buyer has given its approval.

 

		6.2	Further Assurances. The Original Shareholders, Qianjun, Guarantors and the Buyer agree to
take all actions and execute all documents and instruments as are reasonably necessary for implementation of any term of this Agreement
(including but not limited to the satisfaction of all the Closing Conditions and post-Closing Obligations).

 

		6.3	Assistance. The Original Shareholders, Qianjun and Guarantors shall take all necessary actions
to procure the consummation of the transactions contemplated under this Agreement.

 

		6.4	No Negotiations. After this Agreement takes effect, except for the discussion in relation
to the transactions contemplated under this Agreement, none of the Original Shareholders, Qianjun and Guarantors shall, directly
or indirectly through any affiliates, consultants, representatives, senior employees, directors, agents or any other parties, make,
solicit, initiate or encourage any person (including any senior staff or employees) to submit any proposal or offer relating to
the merger, consolidation, acquisition of Qianjun or Qianjun's equity interest or the purchase of any material asset of Qianjun
(“Transaction Proposal”). In addition, the Original Shareholders, Qianjun and Guarantors shall immediately cease
or cause to be ceased all the ongoing contracts or negotiations relating to the Transaction Proposal. However, where the closing
hereunder fails to be completed within six months after this Agreement takes effect, this clause shall lose effect automatically.

 

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		6.5	Non-compete. After the completion of the Transaction, the Original Shareholders shall cease
to possess any interest in or hold any position at Qianjun directly or indirectly. Within 3 years after the execution of this Agreement,
1) none of the Original Shareholders, Guarantors and their respective affiliates shall directly or indirectly engage, in any way,
in any business that is the same as, similar to or competes with the business of Qianjun, whether alone or together with or through
any other party; 2) none of the Original Shareholders, Guarantors and their respective affiliates shall directly or indirectly
dismiss, or solicit, initiate or encourage the dismissal of, the employees of Qianjun; 3) none of the Original Shareholders, Guarantors
and their respective affiliates shall directly or indirectly engage, in any way, influence, solicit, initiate or encourage the
customers of Qianjun to depart or cooperate with other party.

 

Article
7     Taxes and Expenses

 

		7.1	Any expenses incurred by the Target, the Original Shareholders and the Guarantors arising from
the transactions hereunder, including without limitation the costs of the financial advisors retained by the Target, shall be borne
by the Original Shareholders and/or the Guarantors. Any expenses incurred by the Buyer arising from the transactions hereunder,
including without limitation the professional service fee and other costs in connection with the execution of this Agreement and
other transaction documents of the Transaction, and the financial, legal and business due diligence investigations and negotiations
conducted by the accountants and lawyers retained by the Buyer for the Transaction, shall be borne by the Buyer. If the Transaction
fails to be consummated for reasons attributable to the Buyer, then the relevant expenses already incurred for consummation of
the Transaction shall be borne by each Party itself.

 

		7.2	The Parties shall each bear any taxes and fees it should bear for the transactions hereunder in
accordance with the applicable laws; the Buyer shall be entitled to withhold and pay the individual income tax payable by the Original
Shareholders with respect to the transfer of the Target Equity in accordance with the PRC laws and regulations.

 

Article 8     Liabilities
for Breach

 

		8.1	In case any Party is in breach of any of its warranties, agreements or other provisions hereunder,
or any of the representations made by a Party is untrue, which causes any expenses, liabilities or losses to another Party (including
without limitation any loss of expected profit that can be proved by such another Party with specific and reasonable evidences),
then such party in breach or making the untrue representation shall indemnify such another Party for any such expenses, liabilities
or losses (including without limitation any interest and lawyer’s fee lost or paid by such another Party arising from the
acts of such breaching Party). Such indemnities shall be equivalent to the actual losses suffered by such another Party arising
from the breach or any misrepresentation.

 

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		8.2	Except as provided in Article 4.2.2 hereof, the Original Shareholder and the Guarantors shall be jointly
responsible for all their obligations and liabilities hereunder; the Buyer shall be entitled to require any one or more of the
Original Shareholders and the Guarantors to assume liabilities for compensation and to directly deduct such compensation from the
subsequent payable amounts at the breach of such Original Shareholders and/or Guarantors.

 

Article
9     Governing Law and Dispute Resolution

 

This Agreement shall be interpreted according
to the PRC laws. The Parties shall first resort to amicable negotiations to resolve the discrepancy and conflicts between the Parties
for any disputes arising from this Agreement; in case the negotiations fail, such dispute shall be submitted to China International
Economic and Trade Commission in accordance with the then-effective arbitration rules at the application for such arbitration.
The arbitration shall take place in Beijing and the arbitral proceedings shall be conducted in Chinese. The arbitral award is final
and binding upon all the Parties.

 

Article
10     Indemnification

 

		10.1	The Original Shareholders and the Guarantors hereby agree and undertake to indemnify and hold harmless
the Target and/or the Buyer from and against any claims, liabilities, obligations, damages, losses, judgments, legal actions, litigations,
proceedings, arbitrations, levies, fees, loss and expenditures (including without limitation the litigation costs and reasonable
lawyer’s fees to the extent stipulated by the State) suffered or assumed arising from the breach, misrepresentation, false
covenants, non-performance or non-compliance, by any of the Original Shareholders, Guarantors or the Target, with this Agreement
(including any exhibits hereof) or any representations, warranties, covenants or other obligations or agreements regarding the
Original Shareholders, the Target and the Target Equity. The Buyer shall be entitled to directly deduct the amount of such indemnification
from any amounts payable to the Original Shareholders and the Group Creditors with respect to the losses suffered by the Target.

 

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		10.2	The Original Shareholders and the Guarantors hereby agree and covenant that whether or not disclosed
to the Buyer and other than those to be assumed by the Target with the written consent of the Buyer, the Original Shareholders
and the Guarantors shall indemnify and hold harmless the Target and/or the Buyer from and against any and all losses arising out
of the debts, obligations or liabilities relating to the Original Shareholders, the Target and/or the Target Equity on or prior
to the Closing Day, or any ongoing, pending or threatened claims, liabilities, obligations, damages, losses, judgments, legal actions,
litigations, proceedings, arbitrations, levies, fees, loss and expenditures (including without limitation the costs and reasonable
lawyer’s fees incurred or paid by the Target and/or the Buyer for enforcement of the indemnification provided hereunder)
faced or assumed by the Target and/or the Buyer for any reason whatsoever, or initiated by any third party against the Target and/or
the Buyer with respect to the Target Equity purchased by the Buyer pursuant to this Agreement, including without limitation all
absolute or contingent debts, liabilities or claims existing, incurred or generated by the Original Shareholders and the Target
prior to the Closing Date, or though incurred after the Closing Date yet for reasons attributable to the Original Shareholders
or the Target prior to the Closing Date, or existing, incurred or generated by the Target and/or the Target Equity or relevant
contracts, products and services, no matter when raised, together with all expenses and reasonable lawyer’s fees associated
therewith, or the diminution of value of the Target Equity due to the creation of security thereon prior to the Closing Date. The
Buyer shall be entitled to directly deduct the amount of such indemnification from any amounts payable to the Original Shareholders
and the Group Creditors with respect to the losses suffered by the Buyer and the Target.

 

Article
11     Miscellaneous

 

		11.1	Effectiveness. This Agreement shall take effect upon duly executed by the Parties and approved
by the resolution of the Buyer’s shareholders’ meeting.

 

		11.2	Termination. This Agreement shall terminate forthwith:

 

		(1)	upon mutual written agreement among the Parties; or

 

		(2)	if the Closing fails to occur within six months upon the execution of this Agreement.

 

		11.3	Continued Negotiations. Subject to Article 4.2 hereof, if the obligations provided in Article
4.2 fail to be completed within 18 months after the date hereof, the Parties shall amicably negotiate with each other on the subsequent
actions.

 

		11.4	Entire Agreement. This Agreement constitutes the entire agreement among the Parties with respect
to the matters involved herein, and supersedes all prior agreements, covenants, representations and conditions, oral or written,
express or implicit, prior to the execution of this Agreement.

 

		11.5	Waiver. Any Party’s failure to exercise or delay in exercising any of its rights or remedies
provided in this Agreement and the amendments or supplements hereto shall not constitute or operate as a waiver thereof, nor shall
any single or partial exercise of such right and remedy preclude the further exercise thereof.

 

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		11.6	Severability. If any provision of this Agreement is determined to be unlawful, invalid or unenforceable,
the Parties agree that such provision shall be enforced to the greatest extent practicable to realize the intention of the Parties,
and the legality, validity or enforceability of all the other provisions of this Agreement shall not be jeopardized. The Parties
shall amend this Agreement in good faith to the extent necessary to give effect to the intentions of the Parties, to replace the
unenforceable words with the enforceable ones which carry out such intentions as closely as possible.

 

		11.7	Notices. Any and all notices, requests, demands, approvals and other communications required
or intended to be made hereunder shall be made in writing and deemed to have been duly served: (1) on the date of receipt, if sent
in person; (2) on the date of successful transmission, if sent by facsimile (evidenced by the acknowledgement of transmission automatically
generated); or (3) on the 4th working day (or the 15th working day in cases of overseas senders or addressees)
after delivered to the express delivery service. All such notices, requests, demands, approvals and other communications shall
be delivered to the addresses specified in Exhibit 13. Any changes to the address, addressee or facsimile number of any Party shall
be notified to the other Parties in a manner stipulated under this Article, failing which such Party shall undertake the legal
responsibilities arising its failure to receive relevant documents.

 

		11.8	Amendments and Supplements to the Agreement. This Agreement may be amended and supplemented
by the Parties subject to a written agreement. The amendment and supplementary agreements relating to this Agreement duly executed
by the Parties shall be part of, and equally binding as this Agreement .

 

		11.9	Exhibits. The Exhibits hereof shall be equally binding as this Agreement.

 

		11.10	Language and Counterparts. This Agreement is written in Chinese and executed in ten counterparts,
one for each Party, and the rest shall be submitted to the approval authorities, all of which shall be equally binding.

 

 

 

 

 

 

 

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(This page is the signature page of
this Agreement and contains no body text.)

 

This Agreement is executed by the Parties
on the date first above written:

 

 

	
        Tianjin Jinhu Media Co., Ltd.
        (Company seal)

         

         

         

        By: /s/ Charles Zhang                 

        Name: Charles Zhang

        Title: Chief Executive Officer of
        Sohu.com Inc.

         

         

 

 

 

 

    	 

    	 

    

 

(This page is the signature page of
this Agreement and contains no body text.)

 

This Agreement is executed by the Parties
on the date first above written:

 

 

 

Liu Jian

 

Signature:  /s/ Liu Jian      

 

 

Huang Hui

 

Signature: /s/ Huang Hui       

 

 

	
        Guangzhou Qianjun Internet Technology
        Co., Ltd. (Company seal)

         

         

        By: /s/ Liu Jian               

        Name: Liu Jian

        Title: Chairman

         

         

         

Beijing Wole Technology Co., Ltd.
(Company seal)

 

 

By: /s/ Zhou Juan             

Name: Zhou Juan

Title: Chairman

 

 

 

    	  

    	 

    

 

(This page is the signature page of
this Agreement and contains no body text.)

 

This Agreement is executed by the Parties
on the date first above written:

 

 

	
        RENREN INC. (Company seal)

         

         

         

        By: /s/ Joseph Chen          

        Name: Joseph Chen

        Title: Director

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