Document:

EX-10.3

 Exhibit 10.3 

Confidential Treatment Requested. Confidential portions of this document have been redacted and have been separately filed with the SEC. 

English Translation 
 Shareholder Agreement

 Executed on July 31, 2014 
 Glory Loop Limited
(Overseas Acquirer) 
 Beijing Gamease Age Internet Technology Co., Ltd. (Domestic Acquirer) 

and 
 Baina Inc. 

and 
 Yongzhi Yang 

and 
 MoboTap Inc. (Cayman) 

MoboTap Inc. Limited 
 MoboTap Inc. (US) 

Baina Zhiyuan (Chengdu) Technology Co., Ltd. 
 Baina Zhiyuan
(Beijing) Technology Co., Ltd. 
 Beijing Baina Information Technology Co., Ltd. 

Baina (Wuhan) Information Technology Co., Ltd. 
 Chengdu Xingyu
Science and Technology Co., Ltd. 
 Wuhan Xingyu Science and Technology Co., Ltd. 

Wuhan Hualian Chuangke Science and Technology Co., Ltd. 
 Beijing
Anzhuoxing Science and Technology Co., Ltd. 

 Shareholder Agreement 

Contents 
  

							
	General Provisions	  	7	 
		
	To witness hereof, all parties conclude the following clauses upon negotiation:	  	 	7	  
			
	1	  	Definitions and Interpretations	  	 	7	  
			
	2	  	Shareholding Ratios of Shareholders	  	 	7	  
			
	3	  	Corporate Businesses	  	 	8	  
			
	4	  	Listing Supports and Business Assistances	  	 	8	  
			
	5	  	Board of Shareholders	  	 	8	  
			
	6	  	Board of Directors	  	 	9	  
			
	7	  	Board of Directors and Management of the Group	  	 	11	  
			
	8	  	Continual Obligation	  	 	12	  
			
	9	  	Right of First Refusal, Right of Preemption and Compliance Deed	  	 	12	  
			
	10	  	Performance Guarantee and Sales of Options	  	 	16	  
			
	11	  	Dividends or Bonuses	  	 	17	  
			
	12	  	Investment before Eligible Listing	  	 	17	  
			
	13	  	Employee stock option plan	  	 	17	  
			
	14	  	Preferred Liquidation Return	  	 	18	  
			
	15	  	Preferred Investment Option	  	 	18	  
			
	16	  	Non-Competition and No Persuasion	  	 	18	  
			
	17	  	Representations and Warranties	  	 	20	  
			
	18	  	Termination	  	 	21	  
			
	19	  	Confidentiality	  	 	21	  
			
	20	  	General Provisions	  	 	22	  
		
	Appendix I – Definitions	  	 	28	  
		
	Appendix II – Compliance Deed of Employee Shareholders	  	 	31	  
		
	Appendix III – Compliance Deed of Other Assignees	  	 	34	  
		
	Appendix IV – Table of Authorities of the Board of Directors and CEO Granted by the Board of Directors	  	 	37	  
		
	Signature Page	  	 	38	  

  

							
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 Recitals 
 The
Shareholder Agreement (the “Agreement”) is made of July 31, 2014 by and among the following parties: 
  

	(1)	Glory Loop Limited (an overseas acquirer), a company with limited liability legally established and validly subsisting under the laws of the British Virgin Islands and a wholly-owned subsidiary of Changyou.com HK
Limited at the execution date of the Agreement, with registered address at P.O. Box 957, Offshore Incorporations Centre, Road Town, Tortola, British Virgin Islands (the “Overseas Changyou”); 

 

	(2)	Beijing Gamease Age Internet Technology Co., Ltd. (a domestic acquirer), a limited liability company established and validly subsisting under the laws of China with its registered address at 2/F, West Side Building,
Jingyan Hotel, No.29 Shijingshan Road, Shijingshan District, Beijing (the “Domestic Changyou”, collectively with the Overseas Changyou, the “Changyou”); 

 

	(3)	Baina Inc., a company with limited liability established under the laws of the British Virgin Islands with its registered address at Coastal Building, Wickham’s Cay II, P.O. Box 2221, Road Town, Tortola, British
Virgin Islands (“Baina Inc.”); 

  

	(4)	Mr. Yongzhi Yang, a citizen with ID card No. * and domiciled at * (the “Founder”); 

  

	(5)	MoboTap Inc., an exempted company established and validly subsisting under the laws of Cayman with its registered address at P.O. Box 613 GT, 4th Floor Harbour Centre, George Town, Grand Cayman KY1-1107, Cayman Islands
(the “Company”); 

  

	(6)	MoboTap Inc. Limited, a company with limited liability established and validly subsisting under the laws of Hong Kong with its registered address at Room C, 21/F., CMA Building, No.64 Connaught Road, Central, Hong Kong
(the “Hong Kong Subsidiary”); 

  

	(7)	MoboTap Inc., a company established and validly subsisting under the Laws of California, the United States with its registered address at Delaware Corporations LLC, 800 Delaware Ave., the City of Wilmington, County of
New Castle, Delaware 19801 (the “US Subsidiary”) 

  

	(8)	Baina Zhiyuan (Chengdu) Science Co., Ltd., a company with limited liability established and effectively subsisting under the laws of China with its registered address at Rooms 102-112, 1/F, Building No.1, Zone A, Tianfu
Software Park, No. 765 Middle Tianfu Avenue, Chengdu Hi-tech Zone, Sichuan (“Baina Zhiyuan (Chengdu)”); 

  

	(9)	Baina Zhiyuan (Beijing) Technology Co., Ltd., a company with limited liability established and validly subsisting under the laws of China with its registered address at South 2-1-6, Block A, # 1 Plant, No.5 A Xueyuan
Road, Haidian District, Beijing (“Baina Zhiyuan (Beijing)”); 

  

	(10)	Beijing Baina Information Technology Co., Ltd., a company with limited liability established and validly subsisting under the laws of China with its registered address at South 2-1-7, Block A, # 1 Plant, No.5 A Xueyuan
Road, Haidian District, Beijing (“Beijing Baina”); 

 The symbol ‘ * ’ in this exhibit indicates places where
information has been omitted pursuant to a request for confidential treatment and filed separately with the SEC. 

  

							
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	(11)	Baina (Wuhan) Information Technology Co., Ltd., a company with limited liability established and validly subsisting under the laws of China with its registered address at 3/F, Building A2, Phase 1 Jinronggang, No.77
Optical Valley Avenue, East Lake High-tech Development Zone, Wuhan (“Baina Wuhan”); 

  

	(12)	Chengdu Xingyu Science and Technology Co., Ltd., a company with limited liability established and validly subsisting under the laws of China with its registered address at No.39, 6/F, Unit 2, Building 1, No.222 Tianren
Road, Hi-tech Zone, Chengdu (“Chengdu Xingyu”); 

  

	(13)	Wuhan Xingyu Science and Technology Co., Ltd., a company with limited liability established and validly subsisting under the laws of China with its registered address at Room 2, 5/F, Building 1, Phase 3 Guannan Fuxing
Medicine Park, No.58 Optical Valley Avenue, East Lake High-tech Development Zone, Wuhan (“Wuhan Xingyu”); 

  

	(14)	Wuhan Hualian Chuangke Science and Technology Co., Ltd., a company with limited liability established and validly subsisting under the laws of China with its registered address at Room 401, Block A, 3 # Building, SBI
Venture Street, Dongxin Road, East Lake High-tech Development Zone, Wuhan (“Hualian Chuangke”); 

  

	(15)	Beijing Anzhuoxing Science and Technology Co., Ltd., a company with limited liability established and validly subsisting under the laws of China with its registered address at Room 4037, Huaqingyuan Hotel 1A, 1B and 1C,
Building 13, Huaqingjia Park, Dongsheng Zone, Wudaokou, Haidian District, Beijing (“An Zhuoxing”); 

  

	    	The Hong Kong Subsidiary and the US Subsidiary are referred to collectively as the “Overseas Subsidiaries”; Baina Zhiyuan (Chengdu), Baina Zhiyuan (Beijing), Beijing Baina, Baina Wuhan, Chengdu Xingyu, Wuhan
Xingyu, Hualian Chuangke and Anzhuoxing are referred to collectively as “Domestic Subsidiaries”. The parties above are referred to collectively herein as the “Parties”, and severally as “either Party”.

 Whereas: 
  

	(1)	According to the Investment Agreement executed by Changyou, Baina Inc., Forest Group Investments Limited, Matrix Partners China II Hong Kong Limited, Sequoia Capital 2010 CV Holdco, Ltd., QUALCOMM Incorporated, founder
shareholders, Youyang Xie, Na Zeng, the Company, Overseas Subsidiaries, Dolphin Browser Inc., Muse Entertainment Limited, Dstore Technology Limited, Domestic Subsidiaries and Shanghai Andepurui Network Science and Technology Co., Ltd. on
July 16, 2014 (the “Investment Agreement”) and two copies of the Equity Transfer Agreement executed by Domestic Changyou and founder shareholders, Youyang Xie and Na Zeng on July 16, 2014: 

(i) Overseas Changyou agrees to obtain from Baina Inc., Forest Group Investments Limited, Matrix Partners China II Hong Kong Limited, Sequoia
Capital 2010 CV Holdco, Ltd and QUALCOMM Incorporated, and Baina Inc., Forest Group Investments Limited, Matrix Partners China II Hong Kong Limited, Sequoia Capital 2010 CV Holdco, Ltd and QUALCOMM Incorporated agree to transfer to Overseas Changyou
62,500,000 Series A preferred shares, 8,118,560 Series A-1 preferred shares and 67,396,906 ordinary shares of the Company held by them in total; 

  

							
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 (ii) Domestic Changyou agrees to obtain from founder, Zhou Yu and Sen Li, and founder, Zhou Yu
and Sen Li agree to transfer to Domestic Changyou 60% equities of Baina Wuhan held by them in total; and 
 (iii) Domestic Changyou agrees to
obtain from founder shareholders, Youyang Xie and Na Zeng, and founder shareholders, Youyang Xie and Na Zeng agree to transfer to Domestic Changyou 60% equities of Beijing Baina held by them in total. 

 

	(2)	All the Parties agree to conclude the Agreement, which specifies the relations between Overseas Changyou and Baina Inc. as a shareholder of the Company as well as between Domestic Changyou and founder as shareholders of
Baina Wuhan and Beijing Baina, and reach a consensus about the management and operations of all group companies. 

  

	(3)	The Company, Overseas Subsidiaries and Domestic Subsidiaries agree to joint in the Agreement to confirm clauses hereof, and confirm to comply with provisions hereof relating to the Company, Overseas Subsidiaries and
Domestic Subsidiaries. 

  

							
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 General Provisions 

To witness hereof, all parties conclude the following clauses upon negotiation: 
  

	1	Definitions and Interpretations 

  

	1.1	Definitions 

  

	    	For the purpose of the Agreement, unless the context otherwise requires, the capitalized terms shall have the meanings ascribed to them in Appendix I. Unless otherwise defined in Appendix , the capitalized terms shall
have the meanings ascribed to them in the Investment Agreement. 

  

	1.2	Interpretations 

  

	 	(a)	Any reference to the Agreement includes the appendices or attachments constituting an integral part hereof. Terms “hereof”, “hereunder” and “herein” and the expressions with similar
meanings refer to the entire agreement, rather than any certain clauses, schedules, appendices or attachments hereof. Any reference to any document (including the Agreement) refers to the document as revised, incorporated, supplemented, updated or
replaced from time to time. Unless otherwise explicitly stated, (i) any reference to any appendices or attachments refers to the appropriate appendices or attachments to the Agreement, and (ii) any reference to any clauses refers to
corresponding ones in the body of the Agreement. 

  

	 	(b)	For the purpose of the Agreement, “including” shall be deemed as being followed by “without limitation” when used. 

 

	 	(c)	Any reference to any party to the Agreement or any other agreements or documents shall include such party’s successors or permitted assignees. 

 

	 	(d)	Any reference to the “person” includes natural persons, firms, companies, government authorities, associated projects, partnerships, associations, unincorporated organizations, trust, corporations, or other
entities (whether or not they have independent legal status). 

  

	2	Shareholding Ratios of Shareholders 

  

	2.1	As at the closing date, the Company has issued 200,000,000 ordinary shares, 62,500,000 Series A preferred shares and 8,118,560 Series A-1 preferred shares. 

 

	2.2	According to the Investment Agreement, the shareholding ratios of all shareholders at the Company as at the closing date are as follows: 

 

	 	(a)	Overseas Changyou holds 67,396,906 ordinary shares, 62,500,000 Series A preferred shares and 8,118,560 Series A-1 preferred shares of the Company, with the shareholding ratio at the Company of 51%; Changyou also holds
the convertible bonds of the Company, and records the shareholding ratio at the Company of 60% after conversion (on the basis of full dilution, including equity securities issued under any existing employee stock option plan). 

  

							
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	 	(b)	Baina Inc. holds 132,603,094 ordinary shares of the Company, with the shareholding ratio at the Company of 49% (on the basis of full dilution, including equity securities issued under any existing employee stock option
plan). 

  

	2.3	According to the Investment Agreement, the shareholding ratios of all shareholders at Baina Wuhan as at the closing date are as follows: 

 

	 	(a)	Domestic Changyou holds 60% of equities of Baina Wuhan. 

  

	 	(b)	Founder holds 40% of equities of Baina Wuhan. 

  

	2.4	According to the Investment Agreement, the shareholding ratios of all shareholders at Beijing Baina as at the closing date are as follows: 

 

	 	(a)	Domestic Changyou holds 60% of equities of Beijing Baina. 

  

	 	(b)	Founder holds 40% of equities of Beijing Baina. 

  

	3	Corporate Businesses 

  

	3.1	Save as approved by over 50% of voting rights held by shareholders, the group businesses shall be limited to the development and operation of Dolphin Browser – a kind of browser of smartphones and other
products favourable to user experience and business mode of Dolphin Browser of smartphones (the “Group Businesses”). 

  

	3.2	The Group Businesses shall maximize interests of the group, and the group shall make utmost efforts to maintain, improve and expand the Group Businesses in a way suitable for approved business plans.

  

	3.3	All the Parties agree that rights of the group companies shall be subject to the Agreement and articles of association of the group companies. Shareholders and the group companies agree to conform to provisions
relating to them hereunder, and all clauses of the articles of association are compulsorily enforceable for the group companies and shareholders thereof. 

  

	3.4	Save as approved by over 50% of voting rights held by shareholders of the Company, all shares and/or equity interests of subsidiaries of the Company are held and/or controlled by the Company (directly or
indirectly). 

  

	4	Listing Supports and Business Assistances 

  

	    	Changyou agrees to make utmost efforts to provide the group with its promotion resources in order to leverage advantages of all the Parties, give full play to integration effects, and support the eligible listing of the
Company or any related party thereof in the US or Hong Kong. 

  

	5	Board of Shareholders 

  

	5.1	The Company, Baina Wuhan and Beijing Baina set the board of shareholders. Shareholders exercise their voting rights in proportion to shares and/or equities held by them at the shareholders’ meeting.

  

	5.2	Save as otherwise stipulated by any applicable law, the following matters relating to the Company shall come into effect after being approved by over 2/3 shareholders (including Baina Inc.) holding issued shares
of the Company: 

  

	 	(i)	increasing or decreasing the share capital of the Company; 

  

	 	(ii)	merger, division and transformation of the Company; 

  

							
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	 	(iii)	dissolution and liquidation of the Company, recapitalization or restructuring in any form (including any adjustment to the employee stock option plan specified in Article 13 thereof), or any matter resulting in the
change of right of control; 

  

	 	(iv)	authorization or issue of shares or series of shares of any classes or convertible securities or other securities (including the employee stock option plan); 

 

	 	(v)	amendment of the Articles of Association of the Company; and 

  

	 	(vi)	change in the number of members of the board of directors of the Company; 

  

	5.3	Save as otherwise stipulated by any applicable laws and the Agreement, if the shareholders’ meeting makes any resolution about any other deliberated matter according to the articles of association of the
Company, Baina Wuhan and Beijing Baina, the said resolution shall come into effect after being approved by shareholders holding over 50% of issued shares or with the ratio of contribution more than 50%. 

 

	5.4	Each meeting of the board of shareholders (no matter whether regular or extraordinary) shall be notified by the chairman to every shareholder in writing or by e-mail at least ten (10) business days before
the convention of the said meeting, with the date, time and place of the meeting specified (the “Meeting Notice”). If all shareholders agree about a shorter notice period, a meeting to which the said shorter notice period applies shall be
deemed as being convened properly. 

  

	5.5	If any shareholder cannot attend a shareholders’ meeting for any reason, he shall entrust an agent in writing to attend the shareholders’ meeting before the convention time of the meeting specified in
the Meeting Notice, and the agent may exercise the powers specified in the power of attorney. 

  

	5.6	Shareholders may attend a shareholders’ meeting by phone, video or similar communication equipment. The board of shareholders may hold a meeting by any of the aforesaid means, only if present shareholders
can listen to speeches mutually, that is, shareholders can attend the meeting. 

  

	5.7	A written resolution signed by all shareholders holding shares with rights of attending a general meeting and voting shall be deemed as having the same force as a resolution passed at a shareholders’ meeting
properly convened. Any shareholder shall approve or deny the said written resolution within ten (10) business days after receiving the written resolution proposed by the board of directors. 

 

	5.8	The chairman shall be the president of a shareholders’ meeting. If the chairman is absent from the meeting, or fails or rejects to fulfil his duties, the present shareholder holding most shares shall have
the right to appoint a president to fulfil corresponding duties at the meeting. 

  

	6	Board of Directors 

  

	6.1	Setting 

  

	    	The Company, Overseas Subsidiaries and Domestic Subsidiaries set the board of directors, which is responsible for the comprehensive guidance, supervision, management and strategies of the Company. 

  

							
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	6.2	Composition of the board of directors 

  

	 	(a)	The board of directors of the Company, Overseas Subsidiaries, Baina Zhiyuan (Chengdu) and Baina Zhiyuan (Beijing) are composed of five (5) directors respectively, with three (3) appointed or nominated by
Overseas Changyou and two (2) by Baina Inc. The board of directors of Beijing Baina and Baina Wuhan shall be composed of five (5) directors respectively, with three (3) nominated by Domestic Changyou and two (2) by other
shareholders of Beijing Baina and Baina Wuhan. 

  

	 	(b)	The Company, Overseas Subsidiaries, Baina Zhiyuan (Chengdu) and Baina Zhiyuan (Beijing) set one (1) chairman respectively, who is directly appointed or nominated by Overseas Changyou. Beijing Baina and Baina Wuhan
set one (1) chairman, who is nominated by Domestic Changyou. 

  

	 	(c)	Director candidate: any director may notify in writing all group companies of his appointment of any person (probably a director of the Company) as his candidate at any time, upon approved by the shareholder appointing
or nominate him in writing. When handling matters as a director candidate, the said candidate has all rights, privileges and powers of the director appointing him, subject to all provisions relating to directors of the articles of association of the
group companies and the Agreement. Any director may send a written notice of termination of his appointment of director candidate to the group companies and the shareholder appoint or nominating him at any time. 

 

	 	(d)	Shareholders undertake to ensure the realization of rights of appointment and nomination of directors set out in Article 6.2 hereof by means of casting an affirmative vote or signing a written resolution of shareholders
at a shareholders’ meeting. Upon approval by all shareholders, the composition of the board of directors under Article 6.2 hereof may be changed. 

  

	6.3	Directors’ meeting and quorum 

  

	 	(a)	Directors’ meeting shall be convened once a quarter at least. An extraordinary directors’ meeting may be convened upon written proposal by two (2) directors. Save as otherwise stipulated by any applicable
laws, if a resolution is made at a directors’ meeting, the said resolution can be passed only after being approved by over 50% of directors present at the directors’ meeting. 

 

	 	(b)	To reach the quorum of the board of directors, at least three (3) directors (in terms of the Company, including a director appointed by Baina Inc. at least) shall attend a directors’ meeting in person or
entrust their director candidates to do that. If the number of present directors falls short of the quorum, the resolution passed at the directors’ meeting shall be ineffective. 

 

	 	(c)	In terms of the Company, if the number of directors present at a directors’ meeting falls short of the quorum within half an hour after the convention time of the said meeting or during the said meeting, present
directors may postpone the meeting and hold it at the same time and venue five (5) business days after the original date, and send an adjournment notice to all directors. If the number of directors present at the adjournment still fall s short
of the quorum within half an hour after the convention time of the adjournment or during the adjournment, save as otherwise stipulated hereunder, the number of directors present at the adjournment (at least three (3) ones) shall be deemed as
reaching the quorum, and any resolution passed by all directors present at the adjournment shall be deemed as legal and effective. 

  

							
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	 	(d)	The notice, agenda and relevant materials of the directors’ meeting shall be delivered to all directors at least ten (10) business days before the convention of the meeting. The Meeting Notice shall specify
the date, time, place and agenda of the meeting as well as relevant materials. If all directors agree about a shorter notice period, a meeting to which the said shorter notice period applies shall be deemed as being convened properly. Save as passed
by the board of directors, the agenda in the notice delivered to all directors shall not be changed or increased. 

  

	 	(e)	Directors may attend in person or entrust director candidates thereof to attend a directors’ meeting and vote. 

  

	 	(f)	Directors may attend a directors’ meeting by phone, video or similar communication equipment. The board of directors may hold a meeting by any of the aforesaid means, only if present directors can listen to
speeches mutually, that is, directors can attend the meeting. 

  

	 	(g)	A written resolution signed by all directors shall be deemed as having the same force as a resolution passed at a directors’ meeting properly convened. Any director shall approve or deny the said written resolution
within ten (10) business days after receiving the written resolution proposed by the group companies. 

  

	 	(h)	Subject to the duty of good faith and compliance with any applicable laws, directors may notify the shareholders and the group companies appointing or nominating them of all material matters relating to businesses and
events of the group companies, and every shareholder receiving the said information hereby undertakes and agrees to keep the information confidential. 

  

	7	Board of Directors and Management of the Group 

  

	7.1	Every directors’ meeting of the group companies shall conform to the provisions of Articles 6 and 8 hereof. 

  

	7.2	Changyou will fully respect the specialty and management capability of existing management teams of the group companies, unless the existing management of any group company seriously breaches laws, violates
regulations or involves in any other circumstance usually unacceptable to Changyou as a listed company. Changyou hereby agrees that: (1) the stability of existing managements of the group companies will be maintained after the closing date;
and, (2) the first CEO of the group companies will be Yongzhi Yang after the closing date, who will be appointed by means of the resolution of the board of directors of the group companies, with the term of office of three years (the
“Initial Term of Office”). Upon maturity of the Initial Term of Office, the CEO shall be determined by means of resolution of the board of directors; however, the aforesaid agreements shall not affect the normal decision of the board of
shareholders and the board of directors of the group companies, rights of Changyou at the board of shareholders and the board of directors, as well as the right of control of Changyou at the group companies. 

  

							
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	7.3	The board of directors of the group companies shall have the right to appoint the management and senior executives of the group companies, except that (i) any legal representative of Domestic Subsidiaries
shall be appointed by any shareholder or the board of shareholders according to Chinese laws, and (ii) Changyou shall have the right to nominate one (1) chief financial officer of the group companies respectively, who is responsible for
the management of financial accounting of the group companies respectively. 

  

	7.4	Save as otherwise stipulated by any applicable laws, the board of directors and management of the group companies have the examination and approval authorities set out in Appendix IV, and the group companies
shall amend the articles of association within the scope allowed by the applicable laws in order to realize such authorities. 

  

	8	Continual Obligation 

  

	8.1	The board of directors shall be responsible for deciding and implementing all policies of the group companies. All shareholders shall exercise all of their voting rights and other rights relating to the group
companies, and cause directors appointed or nominated by them to exercise their rights so as to fully follow clauses hereof. 

  

	8.2	Subject to the applicable laws, all the Parties shall amend the memorandum and articles of association so that they include all clauses hereof. If there is any inconsistency between the Agreement and the
memorandum and/or the articles of association, all the Parties shall take necessary measures to amend the articles of association so that the Agreement is consistent with the articles of association. 

 

	9	Transfer Restrictions, Right of First Refusal, Right of Preemption and Compliance Deed 

  

	9.1	Transfer restrictions 

  

	9.1.1	Before the eligible listing of the Company, except the circumstances allowed by Articles 9.2, 9.3, 9.4 and 13 hereof or Baina Inc. selling options according to Article 10.2 hereof, if Overseas Changyou intends to
conduct the following actions for the Company, it shall obtain the written consent of Baina Inc. in advance (except the behaviors conducted by Overseas Changyou for any related party thereof, including but not limited to transferring shares of the
Company to any controlled subsidiaries with 50% or more of shares directly or indirectly held by Overseas Changyou); if any other shareholder (including Baina Inc.) of the Company conducts the following behaviors for the Company, it shall obtain the
written consent of Overseas Changyou: 

  

	 	(a)	mortgaging (no matter whether in fixed or floating charge way), pledging, setting any option, rights, equities or encumbrances in any other way for the statutory or beneficial interests of all or any shares of the
Company held by it; 

  

	 	(b)	selling, transferring or disposing in any other way of all or any shares of the Company held by it or any statutory or beneficial interests stipulated hereunder, or transferring or disposing of any equities stipulated
hereunder; 

  

	 	(c)	signing any agreement about all or part of shares of the Company held by it and voting rights thereof; 

  

							
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	 	(d)	setting any options, rights, equities or encumbrances for shares and/or equities of the Company; or 

  

	 	(e)	agreeing about the aforesaid matters (no matter whether conditional or not). 

  

	9.2	Right of first refusal 

  

	 	(a)	All the Parties agree that after the closing date, they cannot issue shares to other persons, if the Company, Beijing Baina or Baina Wuhan increases capital. However, (1) upon approval by shareholders according to
Article 5.2 and (2) subject to the requirements of Article 9.2 hereof, Changyou, Baina Inc. and founder have the right of pre-emption for the shares issued for capital increase (the “Capital Increase Shares”) according to the
following subscription proportions. 

  

	 	(i)	In terms of the Company, the subscription proportion of Overseas Changyou or Baina Inc. is the number of shares of the Company held by Overseas Changyou or Baina Inc. (as the case may be) (on the basis of full dilution
and conversion) / total number of shares of the Company held by Overseas Changyou and Baina Inc.; 

  

	 	(ii)	In terms of Beijing Baina, the subscription proportions of Domestic Changyou or founder is the contribution of Domestic Changyou or founder (as the case may be) to Beijing Baina / total contributions of Domestic
Changyou and founder to Beijing Baina; and 

  

	 	(iii)	In terms of Baina Wuhan, the subscription proportions of Domestic Changyou or founder is the contribution of Domestic Changyou or founder (as the case may be) to Baina Wuhan / total contributions of Domestic Changyou
and founder to Baina Wuhan. 

  

	 	(b)	All the Parties agree that if the board of directors reasonably thinks that it is necessary to increase issued shares for business requirements of the Company, Beijing Baina or Baina Wuhan, they shall send a notice to
Changyou and relevant shareholders (the “Capital Increase Notice”), which specifies: 

  

	 	(i)	the number of Capital Increase Shares; 

  

	 	(ii)	the subscription price of Capital Increase Shares; and 

  

	 	(iii)	the number of shares which can be subscribed by Changyou and relevant shareholders according to Article 9.2.1. 

  

							
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	 	(c)	Within thirty (30) days after receiving the Capital Increase Notice, Changyou and relevant shareholders shall send a notice of capital increase subscription (the “Notice of Capital Increase
Subscription”), which specifies the number of shares they are willing to subscribe at the subscription price set out in the Capital Increase Notice. Changyou and/or relevant shareholders shall send the Notice of Capital Increase Subscription to
the Company, Beijing Baina or Baina Wuhan, and copy it to the other party. If Changyou and/or relevant shareholders do not send the Notice of Capital Increase Subscription within thirty (30) days after receiving the Capital Increase Notice,
they will be deemed as having waived the right of first refusal thereof. If either of Changyou and relevant shareholders does not fully subscribe the shares which can be subscribed according to Article 9.2.1 hereof, the other party may send a notice
of supplementary capital increase subscription (the “Notice of Supplementary Capital Increase Subscription”) within ten (10) days after receiving the Notice of Capital Increase Subscription of the party to subscribe remaining shares
to be subscribed. If Changyou and/or relevant shareholders do not send the Notice of Supplementary Capital Increase Subscription within ten (10) days after receiving the Notice of Capital Increase Subscription of the other party, they will be
deemed as having waived the right of first refusal thereof. 

  

	 	(d)	Upon expiration of the period of ten (10) days specified in Article 9.2.3, the Company, Beijing Baina or Baina Wuhan shall have a hundred and twenty (120) days to sell any to-be-issued shares not subscribed by
shareholders to any other person according to terms and conditions not more favourable than those provided for shareholders. If the Company, Beijing Baina or Baina Wuhan fails to complete the issue within a hundred and twenty (120) days, the
Company shall conduct another intentional issue after being approved according to Article 9.2 hereof again. 

  

	 	(e)	The value of assessment of the Company, Beijing Baina or Baina Wuhan of shares issued by the Company, Beijing Baina or Baina Wuhan to any third party other than Changyou (the “New Investor”) shall not be lower
than that of the Company, Beijing Baina or Baina Wuhan when Changyou becomes a shareholder of the Company, Beijing Baina or Baina Wuhan. Otherwise, Changyou shall have the right to require the Company, Beijing Baina, Baina Wuhan and founder to
dispose in any of the following ways: 

  

	 	(i)	increasing shares or equities of the Company, Beijing Baina and Baina Wuhan held by Changyou at that time, the Company issuing additional ordinary shares to Overseas Changyou at the nominal price or freely, and/or
founder transferring equities of Beijing Baina and/or Baina Wuhan to Domestic Changyou at the nominal price, so that the value of assessment of actual investment after Changyou holds more shares or equities can be reduced to the value of assessment
on which the price of to-be-issued shares of the Company, Beijing Baina and Baina Wuhan subscribed by the New Investor is based. 

  

	 	(ii)	adjusting the conversion price of convertible bonds to increase the number of shares of the Company to be obtained after the conversion of such bonds, so that the value of assessment of actual investment of Changyou is
reduced to the value of assessment on which the price of to-be-issued shares of the Company, Beijing Baina and Baina Wuhan subscribed by the New Investor is based. 

 

	 	(f)	If Beijing Baina and Baina Wuhan increase registered capital thereof, the equities corresponding to the additional registered capital shall be effective controlled by Baina Zhiyuan (Beijing) under a corresponding
control agreement. 

  

							
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	9.3	Right of preemption 

  

	 	(a)	Under the same conditions, Changyou or any related party thereof shall have the right of pre-emption for the shares of the Company, Beijing Baina and Baina Wuhan (the “To-be-transferred Shares”) to be
transferred by relevant shareholder to any person (the “Assignee”). 

  

	 	(b)	Before relevant shareholder transfers any To-be-transferred Shares, a written notice (the “Transfer Notice”) shall be sent to Changyou, and specify: (a) the number of To-be-transferred Shares;
(b) transfer conditions of To-be-transferred Shares (the “Transfer Conditions”, including transfer price and other conditions); (c) the identity of Assignee; and (d) no withdrawal or revocation of the said notice.

  

	 	(c)	Changyou shall send a written notice (the “Assignment Notice”) to relevant shareholder within thirty (30) days after receiving the Transfer Notice specified in Article 9.3.2 hereof, which specifies the
number of To-be-transferred Shares that Changyou or any related party hereof is willing to purchase according to the Transfer Conditions. If Changyou does not send the Assignment Notice to relevant shareholder within thirty (30) days after
receiving the Transfer Notice, Changyou will be deemed as having waived the right of preemption thereof, save as otherwise agreed by relevant shareholder. 

  

	 	(d)	Relevant shareholder agree not to transfer any To-be-transferred Shares to the Assignee before Changyou has exercised or waived the right of pre-emption thereof set out in Article 9.3 hereof. 

 

	 	(e)	Upon expiration of the period of thirty (30) days specified in Article 9.3.3, relevant shareholder shall have a period of a hundred and twenty (120) days to sell any To-be-transferred Shares not purchased by
Changyou to the Assignee according to terms and conditions not more favourable than those provided for Changyou. If relevant shareholder fails to complete the transfer within a hundred and twenty (120) days, relevant shareholder shall conduct
another intentional transfer after being approved according to Article 9.3 hereof again. 

  

	9.4	Compliance deed 

 No matter how agreed upon by other clauses hereof, any shareholders and
the Company shall not transfer shares of the Company, Beijing Baina and Baina Wuhan held by them, unless: 
  

	 	(a)	in terms of employee shareholders, employee shareholders with equities transferred to agree in writing to be subject to applicable terms and conditions hereunder by signing the compliance deed of employee shareholders
with contents substantively consistent to the Appendix II hereto. 

  

	 	(b)	in terms of any other Assignee other than employee shareholders, the Assignee agrees in writing to be subject to applicable terms and conditions hereunder by signing the compliance deed of other assignees with contents
substantively consistent to the Appendix III hereto. 

  

							
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	 	(c)	the transfer conforms to other applicable clauses hereof in all aspects; 

  

	 	(d)	the transfer conforms to applicable laws in all aspects; and 

  

	 	(e)	In terms of transferred equities, assignor does not have any rights or obligations under the Agreement or other transaction documents. 

 

	10	Performance Guarantee and Sales of Options 

  

	10.1	According to agreements of all the Parties, without the written agreement of Overseas Changyou, before the eligible listing of the Company or any related party thereof, Baina Inc. ensures that the percentage of
shares of the Company held by it at any time shall not be lower than 25%, and the percentage of shares of Baina Inc. held by the founder shall not be lower than 60.04% at any time. 

 

	10.2	According to Article 10.1, if till the time when the group achieve the following performance objectives (the “2016 Annual Objectives”), founder and key employees still work for the Company, but the
Company or any related party thereof does not achieve eligible listing due to some uncontrollable market environment factors, Baina Inc. will have the right to sell options once, transferring some shares of the Company held by it to Overseas
Changyou or any related party thereof with the transfer price = US$351,400,000 X the percentage of the number of shares to be transferred by Baina Inc. in the total number of shares of the Company. For the avoidance of any doubt, in the condition
that the percentage of shares of the Company held by Baina Inc. is not lower than 25%, the percentage of the number of shares of the Company which Baina Inc. has the right to transfer to Overseas Changyou or any related party thereof in this Article
10.2 in the total number of shares of the Company shall not exceed 15% (on the basis of full dilution and conversion): 

  

	 	(a)	The number of average monthly active users of smartphones of Dolphin Browser in the last 3 months of 2016 is not less than * ; 

  

	 	(b)	In the audited consolidated financial report of the Company in 2016 prepared in accordance with the US accounting standards, the revenue of the group in 2016 is not less than US$ * ; 

 

	 	(c)	In the audited consolidated financial report of the Company in 2016 prepared in accordance with the US accounting standards, the business profits of the group in 2016 are not less than US$ * ; 

 

	 	(d)	If the 2016 Annual Objectives are achieved due to manipulation or impact by any abnormal or improper means (e.g. self consumption, artificial flow control, and disturbance of flow calculation system), it will be deemed
that the 2016 Annual Objectives are not achieved. 

  

	10.3	Within 60 days after the issue of audited consolidated financial report of the Company in 2016, Baina Inc. may send a notice of exercise of rights under Article 10.2 (the “Exercise Notice”) to Overseas
Changyou. Baina Inc.: 

 The symbol ‘ * ’ in this exhibit indicates places where information has been omitted pursuant to a
request for confidential treatment and filed separately with the SEC. 

  

							
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	 	(a)	within five (5) business days after the delivery of the Exercise Notice (the “Exercise Notice Period”), shall transfer the shares (not attached with any encumbrance) of the number specified in Article
10.2 to Changyou by submitting the share certificates of the number of to be transfer shares together with the formally signed transfer instrument meeting validation form and substantial requirements; or 

 

	 	(b)	if Overseas Changyou has an objection to whether the 2016 Annual Objectives are achieved, shall notify Baina Inc. in writing within the Exercise Notice Period to conduct amicably negotiation. If no consensus is reached
within twenty (20) business days after the start of negotiation, Baina Inc. and Overseas Changyou shall have the right to submit the dispute to HKIAC for arbitration according to Article 20.3 hereof. For the avoidance of any doubt, if Overseas
Changyou does not raise an objection in the Exercise Notice Period, it shall be deemed that Overseas Changyou has no objection to the identification of the 2016 Annual Objectives of Baina Inc., and shall fulfil obligations under assigned shares
according to Item (a) of this clause. 

  

	11	Dividends or Bonuses 

 The Company takes eligible listing as its operation objective. Before
achieving the objective, shareholders of the Company agree to cause the group companies not to distribute dividends or bonuses. 
  

	12	Investment before Eligible Listing 

 All the Parties agree that before eligible listing,
Changyou has the right to purchase no less than 10% of shares of the Company or any related party thereof as listing body held by Baina Inc. or employees becoming shareholders of the Company under the employee stock option plan or at a price 20%
lower than the lower limit of listed security price range. 
  

	13	Employee stock option plan 

  

	13.1	All the Parties agree that the Company establishes the employee stock option plan to grant options to employees of the Company so that shares of the Company can be transferred to them when they exercise the
options (the “Employee Stock Option Plan”). The Company will issue 10,000,000 ordinary shares in accordance with the Employee Stock Option Plan and Article 13 hereof, which account for 3.7% of all shares of the Company (on the basis of
full dilution) and will be granted to employees of the Company as option shares. Additionally, at the time of closing, 17,478,093 ordinary shares of the Company held by Baina will be reserved for employees of the Company as option shares. If any
employee granted with option shares or relevant options resigns before eligible listing, but such option shares have not been registered in the name of the said employee, the said options have not been exercised or the said option shares or relevant
options are withdrawn pursuant to the Employee Stock Option Plan, Baina Inc. will have the right to dispose of the part of such option shares by itself, including granting them to other employees or cancelling reservation pursuant to the Employee
Stock Option Plan. 

  

	13.2	All the Parties agree that the board of directors of the Company may decide the procedures and contents of the Employee Stock Option Plan and employees participating in the Employee Stock Option Plan and the
number of granted options (including corresponding option shares). According to Article 9.3 hereof, employees may exercise options with exercise rights obtained, and receive corresponding option shares from the Company pursuant to the Employee Stock
Option Plan. 

  

							
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	14	Preferred Liquidation Return 

 According to applicable laws, if the Company is terminated,
deregistered or dissolved or any matter resulting in the liquidation of the Company (the “Liquidation Event”) occurs, Overseas Changyou shall have the priority to obtain a sum of liquidation return amount (the “Preferred Liquidation
Return Amount”) after the Company pays any liquidation expenses and any debts according to applicable laws. With regard to ordinary shares of the Company held by it, the Preferred Liquidation Return Amount equals 100% of consideration of
ordinary shares. If the Liquidation Event occurs to the Company, the amount which Overseas Changyou can obtain for ordinary shares of the Company held by it is lower than 100% of the consideration of ordinary shares, Baina Inc. and employee
shareholders (if applicable) will agree and freely transfer all or part of assets which they have the right to obtain (for the avoidance of any doubt, except salaries, social insurance premiums, rewards and welfares which employee shareholders as
employees have the right to obtain according to labor contract), so that at the time of termination or dissolution of the Company, Overseas Changyou can obtain assets equal to 100% of the consideration of ordinary shares for the ordinary shares held
by it. Overseas Changyou hereby agrees to accept the transfer. With regard to the preferred shares of the Company held by Overseas Changyou, the Preferred Liquidation Return Amount equals 120% of the consideration of ordinary shares. After obtaining
the Preferred Liquidation Return Amount, Overseas Changyou may obtain the remaining assets distributed according to shareholding percentages together with other shareholders. 
  

	15	Preferred Investment Option 

  

	15.1	If the Liquidation Event occurs to the Company, and Overseas Changyou does not fully recover the Preferred Liquidation Return Amount, the founder shall grant Changyou the priority over any other person to invest
in any new business conducted by any key employee within 3 years after the Liquidation Event in any form, provided that the key employee is the largest shareholder in the said new business. The founder shall cause the key employee to notify Changyou
in writing before conducting the said business, and cause the business subject (legal person or not legal person) controlled by the key employee to ensure the priority of investment of Changyou can be exercised. 

 

	16	Non-Competition and No Persuasion 

  

	16.1	Founder shareholders and any employee shareholders with the percentage of option shares of the Company held by them respectively or the percentage of shares of the Company held by them respectively after
exercising their options not lower than 0.5% (the “Important Employee Shareholders”) hereby undertake to Changyou and the Company that, 

  

	 	(a)	in terms of founder shareholders, within two years after the closing date or the time when they resigns from the group companies or cease being shareholders of the group companies (whichever is the later);

  

	 	(b)	in terms of Important Employee Shareholders, within two years after they resigns from the group companies after obtaining the option shares of the Company according to Article 13 hereof or the date when the percentage
of shares of the Company held by them becomes lower than 0.5% (whichever is the later), 

  

							
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 they will not (and will ensure that any related parties thereof (except the group companies) and
key employees will not) conduct any businesses or activities (including research, development, marketing, promotion, provision of services and licensing) the same as or similar to the existing businesses of Changyou as at the closing date or group
businesses (the “Restricted Businesses”) or hold any rights or interests in such businesses or activities directly or indirectly, independently or together with any other party, or by establishing any other business entity to do so
directly or indirectly, independently or together with any other party. 
  

	16.2	Founder shareholders and Important Employee Shareholders undertake to Changyou and the Company that, 

  

	 	(a)	in terms of founder shareholders, within two years after the closing date or the time when they resigns from the group companies or cease being shareholders of the group companies (whichever is the later);

  

	 	(b)	in terms of Important Employee Shareholders, within two years after they resigns from the group companies after obtaining the option shares of the Company according to Article 13 hereof or the date when the percentage
of shares of the Company held by them becomes lower than 0.5% (whichever is the later), 

 they will not (and will ensure that
any related parties thereof (except the group companies) will not) employ any employees or former employees of the group companies, or persuade any employees or former employees of the group companies, Changyou or any related party of Changyou to
conduct the Restricted Businesses in any form, no matter whether directly or indirectly. 
  

	16.3	If any part of this article is identified as invalid, illegal or enforceable in any respect for any reason, the invalidity, illegality or enforceability shall not affect the force of other part of this article,
and the article shall be interpreted as such invalid, illegal or enforceable part has never been included in this article. In this case, Article 20.8 shall apply. Relevant shareholders and employee shareholders confirm that Changyou and the Company
will suffer irreversible damages due to any violation of this article, and any compensations and reliefs for damages are inadequate to indemnify the losses suffered by Changyou and/or the Company due to such violation. Relevant shareholders and
employee shareholders agree that Changyou and the Company have the right to exercise injunctive relief and require relevant shareholders and employee shareholders to actually perform Article 16, and Relevant shareholders and employee shareholders
agree upon the exercise of such rights. 

  

	16.4	For the avoidance of any doubt, any related party of relevant shareholders and/or employee shareholders (except the group companies) which violates any agreement in Article 16 shall be deemed as the violation of
relevant shareholders and/or employee shareholders. 

  

							
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	16.5	If relevant shareholders and/or employee shareholders violate any agreement in Article 16, they shall be identified as having severely violated the Agreement, Changyou and the Company will have the right to
require relevant shareholders or employee shareholders to pay forfeits, calculated by US$50,000 for each violation or the total amount of losses suffered by Changyou (whichever is the higher). Relevant shareholders or employee shareholders shall
remit such amount to the bank account designated by Changyou and the Company as soon as possible, but in any case, the time of remittance shall not be later than ten (10) business days after relevant shareholders or employee shareholders
receive the notice of requirement for such payment from Changyou and/or the Company. All the Parties confirm and agree that such amount is the true estimation of losses probably incurred by relevant violation as well as the supplementation to any
other rights or reliefs which Changyou and the Company may obtain according to laws or any contract, and in any case, shall not replace or reduce any other rights or reliefs which Changyou and the Company may obtain according to laws or any
contract. 

  

	17	Representation and undertaking 

 All the Parties respectively make the following
representations, warranties and undertakings to other Parties severally and not jointly: 
  

	17.1	Establishment, capacity for act, good credit and qualifications 

 In terms of legal
persons, all the Parties (1) are the companies with limited liability established and validly subsisting under applicable laws, with good credit, and having obtained all consents of relevant governmental agencies (if necessary); (2) have
all necessary powers and authorities to own and operate their properties and conduct businesses, execute, deliver and perform the Agreement and complete the transactions contemplated hereunder; (3) have proper qualifications to conduct business
transactions respectively, all licenses and qualifications necessary for the operation of such businesses, as well as good credit within every jurisdiction which requires such qualifications; and (4) have been conforming to the applicable laws
to conduct businesses as from their establishment. 
 In terms of natural persons, all the Parties (1) are subjects with full capacity
for civil conduct; and (2) have all necessary powers to execute, deliver and perform the Agreement and complete the transactions contemplated hereunder. 
  

	17.2	Authorization 

  

	 	(a)	All the Parties have taken all necessary actions so that they can authorize, execute and deliver the Agreement and fulfil their obligations hereunder. The Agreement specifies effective and legally binding obligations,
which shall be implemented according to clauses hereof. 

  

	 	(b)	It is unnecessary all the Parties to obtain any consent from any person other than consents obtained as at the closing date for the execution, delivery or performance of the Agreement or completion of transactions
contemplated hereunder. 

  

	17.3	No violation 

 The execution, delivery and performance of the Agreement or completion of
transactions contemplated hereunder of all the Parties will not (i) conflict with any applicable laws; (ii) violate any clause of any contract, generate any right to terminate, cancel or bring forward any rights or obligations of all the
Parties under any clause of any contract, incur the loss of any interests to all the Parties under any clause of any contract, or result in the increase in the currently effective interest rate of any debts of all the Parties; or (iii) incur
any encumbrance to any properties or assets of all the Parties (save as definitely agreed by all the Parties in transaction documents). 

  

							
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	17.4	Insolvency 

 All the Parties do not and have no reason to believe that they will be
insolvent or cannot pay mature debts according to applicable laws in expectable future. All the Parties do not and have no reason to believe that in expectable future, there will be any legal procedures relating to compromise or arrangement with
creditors, any liquidation, bankruptcy or other dissolution procedures relating to all the Parties. To the knowledge of all the Parties, there is not any event probably triggering such legal procedures according to applicable laws at present. 

 

	18	Termination 

  

	18.1	Period and termination of the Agreement 

 The Agreement shall come into effect as from
the closing date, and be valid continually, except for termination in any of the following circumstances: 
  

	 	(a)	All the Parties agree to terminate the Agreement in advance upon negotiation; 

  

	 	(b)	The Company is dissolved; or 

  

	 	(c)	In terms of every shareholder, all of his shares are sold. 

  

	18.2	Termination effect 

 Except for the circumstances specified in Article 18.3 below, if the
Agreement is terminated according to Article 18.1 or applicable laws, the Agreement will no longer be valid, but all the Parties shall not be exempted from any liabilities arising from the breach hereof or any misstatements and such termination
shall not be deemed as a waiver of any available relief for such breach or any untrue statement (including actual performance, if available). 
  

	18.3	Survival 

 The provisions of Articles 18, 19 and 20 shall survive the termination of the
Agreement. 
  

	19	Confidentiality 

  

	19.1	Confidentiality obligation 

 Each Party to the Agreement shall strictly keep confidential
the information contained in the Agreement or any information obtained or secured by negotiation and/or entry into the Agreement, including any information relating to the following matters and shall not disclose or use: 

 

	 	(a)	the existence and terms of the Agreement; 

  

	 	(b)	negotiation relating to the Agreement; and 

  

	 	(c)	Any business activities conducted by either Party to the Agreement, the said party or any related party thereof. 

  

							
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	19.2	Allowed disclosure 

 However, under the following cases, this Article 19.1 shall not
prohibit the disclosure or use of any information within the following ranges: 
  

	 	(a)	The disclosure or use is required by any applicable laws, any rules of the exchange on which shares of either Party are listed, or any governmental agency, but the Party concerned shall notify the other Party of such
requirement in time so that the other Party has a change to raise an objection to such disclosure or use, if any; or negotiate with the other Party about the time and contents of such disclosure or use; 

 

	 	(b)	the disclosure or use required by any legal proceedings as a result of the Agreement or any other agreements entered into hereunder or pursuant to the Agreement or the disclosure that is related to the tax affairs of
the disclosing party and made to the tax authorities; 

  

	 	(c)	any disclosure made to any party’s representatives who need know such information for any purpose of the Agreement or the completion of the transaction contemplated under the agreement entered into according to the
Agreement; provided, however, such representatives undertake to abide by Article 19.1, as if it is a party to the Agreement. 

  

	 	(d)	such information can be obtained from public sources (unless that the case is due to any violation of the confidentiality agreement (if any) or the Agreement); or 

 

	 	(e)	The other Parties previously consent in writing to the disclosure or use. 

  

	20	General Provisions 

  

	20.1	Binding force; transfer 

 The Agreement shall be binding upon and enforceable against all
the Parties, successors and permitted assignees thereof. Without the prior written approval of the other Parties, either Party may not transfer any of its rights or obligations under the Agreement, but Changyou has the right, without the prior
consent of the other Parties, to transfer all or part of its rights under the Agreement to any of its related parties. 
  

	20.2	Governing Laws 

 The Agreement shall be governed by and construed in accordance with the
laws of Hong Kong. 
  

	20.3	Settlement of disputes 

  

	 	(a)	Any dispute, controversy or request arising from or relating to the Agreement or the interpretation, breach, termination or validity hereof (each, a “Dispute”) shall be firstly resolved by the Parties through
consultations. Negotiations shall begin immediately after the written notice requiring negotiations is sent by any Party to any other Parties. 

  

	 	(b)	If the Dispute fails to be resolved within sixty (60) days as of the notice, the Dispute shall be submitted to arbitration after any party involved in the Dispute sends notice (the “Notice of
Arbitration”) to other Parties for arbitration. 

  

							
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	 	(c)	The Dispute shall be submitted to the Hong Kong International Arbitration Centre (“HKIAC”) for arbitration in Hong Kong. There shall be three (3) arbitrators appointed in accordance with the HKIAC
arbitration rules then in effect (the “Arbitration Rules”), unless otherwise expressly provided in this Article 20.3.3. Changyou shall appoint one arbitrator; other shareholders shall jointly appoint an arbitrator within ten (10) days
after Changyou has appointed an arbitrator; if an arbitrator cannot be designated under the abovementioned conditions, the arbitrator shall be designated by HKIAC; the third arbitrator shall be the presiding arbitrator and shall be jointly appointed
by the arbitrators of the parties within ten (10) days after the latter arbitrator is appointed. If it cannot be appointed under the above conditions, the arbitrator shall be specified by HKIAC. 

 

	 	(d)	Arbitration procedures shall be conducted in Chinese. The arbitral tribunal shall apply the Arbitration Rules. 

  

	 	(e)	The awards of the arbitral tribunal are final and binding upon all the Parties; the prevailing party may apply to a court of competent jurisdiction for enforcing the award. 

 

	 	(f)	Any Party to the Dispute shall have the right, if feasible, to seek a temporary injunction relief in any court having jurisdiction. 

  

	 	(g)	In the course of ruling the Dispute by the arbitral tribunal, except the part in Dispute to be ruled, the Agreement shall continue being performed. 

 

	 	(h)	Costs of arbitration (including any legal, accounting and other professional fees and expenses arising from the investigation, collection, prosecution and/or defense by the prevailing party for any request under the
Dispute) shall be borne by the losing party in accordance with the ruling of the arbitration tribunal. 

  

	20.4	Alternation 

 Save as otherwise allowed hereunder, any modification, alteration, waiver,
cancellation or termination of the Agreement and its terms shall be made with a written document signed by each Party. 
  

	20.5	Notice 

 (a) All notices, claims, certificates, requests, demands and other
communications sent to any Party hereunder shall be made in writing and sent by personal delivery, facsimile or postage-prepaid form by reputable overnight courier service to the address or any other addresses that are listed in the following
Article 20.5.2 of the Party and specified by the Party to all other Parties through notice. The abovementioned notices shall be deemed as served upon delivery in the case of personal delivery and upon the receipt of return in the case of sending by
fax. In the event of overnight courier service, the notices shall be considered as been delivered within five (5) calendar days as of the post to the express company or collected by the express company. 

(b) The notices hereunder shall be sent to the receivers and addresses of all the Parties listed below. 

  

							
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	 Glory Loop Limited (an overseas acquirer)

			
	Address	  	:	  	P.O. Box 957, Offshore Incorporations Centre, Road Town, Tortola, British Virgin Islands
			
	Fax	  	:	  	+86 010-6192 0961
			
	Attn.	  	:	  	Legal Department
	
	Beijing Gamease Age Internet Technology Co., Ltd. (a domestic acquirer)
			
	Address	  	:	  	2/F, East Side Building, Jingyan Hotel, No.29 Shijingshan Road, Shijingshan District, Beijing
			
	Fax	  	:	  	+86 010-6192 0961
			
	Attn.	  	:	  	Legal Department
	
	Baina Inc.
			
	Address	  	:	  	3/F, Building A2, Phase 1 Financial Harbor, No.77 Optical Valley Avenue, East Lake High-tech Development Zone, Wuhan
			
	Fax	  	:	  	+86 027-87782005-8056
			
	Attn.	  	:	  	Tiefeng Liu
	
	Mr. Yongzhi Yang
			
	Address	  	:	  	3/F, Building A2, Phase 1 Financial Harbor, No.77 Optical Valley Avenue, East Lake High-tech Development Zone, Wuhan
			
	Fax	  	:	  	+86 027-87782005-8056
	
	 MoboTap Inc. (Cayman)

			
	Address	  	:	  	3/F, Building A2, Phase 1 Financial Harbor, No.77 Optical Valley Avenue, East Lake High-tech Development Zone, Wuhan
			
	Fax	  	:	  	+86 027-87782005-8056
			
	Attn.	  	:	  	Tiefeng Liu

  

							
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	 MoboTap Inc. Limited

			
	Address	  	:	  	3/F, Building A2, Phase 1 Financial Harbor, No.77 Optical Valley Avenue, East Lake High-tech Development Zone, Wuhan
			
	Fax	  	:	  	+86 027-87782005-8056
			
	Attn.	  	:	  	Tiefeng Liu
	
	MoboTap Inc. (US)
			
	Address	  	:	  	665 3rd Street, Suite 150, San Francisco, CA 94107
			
	Attn.	  	:	  	Tiefeng Liu
	
	Baina Zhiyuan (Chengdu) Technology Co., Ltd.
			
	Address	  	:	  	15/F, Building G1, Zone G, Tianfu Software Park, No.1800 Yizhou Avenue, Hi-tech Zone, Chengdu, Sichuan
			
	Attn.	  	:	  	Tiefeng Liu
	
	Baina Zhiyuan (Beijing) Technology Co., Ltd.
			
	Address	  	:	  	2-1-3/F, South Block A, 768 Creative Park, No.5 A Xueyuan Road, Haidian District, Beijing
			
	Attn.	  	:	  	Tiefeng Liu
	
	Beijing Baina Information Technology Co., Ltd.
			
	Address	  	:	  	2-1-3/F, South Block A, 768 Creative Park, No.5 A Xueyuan Road, Haidian District, Beijing
			
	Attn.	  	:	  	Tiefeng Liu
	
	Baina (Wuhan) Information Technology Co., Ltd.
			
	Address	  	:	  	3/F, Building A2, Phase 1 Financial Harbor, No.77 Optical Valley Avenue, East Lake High-tech Development Zone, Wuhan
			
	Fax	  	:	  	+86 027-87782005-8056
			
	Attn.	  	:	  	Tiefeng Liu

  

							
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	 25 
	    

					
	 Chengdu Xingyu Science and Technology Co., Ltd.

			
	Address	  	:	  	15/F, Building G1, Zone G, Tianfu Software Park, No.1800 Yizhou Avenue, Hi-tech Zone, Chengdu, Sichuan
			
	Attn.	  	:	  	Tiefeng Liu
	
	Wuhan Xingyu Science and Technology Co., Ltd.
			
	Address	  	:	  	3/F, Building A2, Phase 1 Financial Harbor, No.77 Optical Valley Avenue, East Lake High-tech Development Zone, Wuhan
			
	Fax	  	:	  	+86 027-87782005-8056
			
	Attn.	  	:	  	Tiefeng Liu
	
	Wuhan Hualian Chuangke Science and Technology Co., Ltd.
			
	Address	  	:	  	3/F, Building A2, Phase 1 Financial Harbor, No.77 Optical Valley Avenue, East Lake High-tech Development Zone, Wuhan
			
	Fax	  	:	  	+86 027-87782005-8056
			
	Attn.	  	:	  	Tiefeng Liu
	
	Beijing Anzhuoxing Science and Technology Co., Ltd.
			
	Address	  	:	  	2-1-3/F, South Block A, 768 Creative Park, No.5 A Xueyuan Road, Haidian District, Beijing
			
	Attn.	  	:	  	Tiefeng Liu

  

	20.6	Further assurance 

 Each Party shall make and perform (or cause others to make and
perform) all further acts and matters as may be reasonably required by any other Parties to achieve the terms and the purpose hereof, and shall sign and deliver to any other Parties all other agreements, certificates, instruments and documents to
achieve the terms and the purpose hereof. 
  

	20.7	Entire agreement 

 The Agreement, together with other transaction documents, constitutes
the entire agreement between the parties regarding the subject matter of the Agreement and supersedes all prior written or oral understandings or agreements. 

  

							
	 	 	 Shareholder Agreement
  
	  	   
	 26 
	    

	20.8	Severability 

 If any provision of the Agreement is held invalid or unenforceable to any
extent, the remainder of the Agreement shall not be affected and shall be enforceable to the maximum extent permitted by laws. Any invalid or unenforceable provisions hereof shall be replaced by other valid and enforceable terms with the closest
effect to the original intent of such unenforceable ones. 
  

	20.9	Cumulative relief 

 The rights and reliefs available herein or in other ways should be
cumulative with all other rights and reliefs and may be exercised in succession. 
  

	20.10	Execution 

 The Agreement may be made in one or more copies and each copy is deemed
original. All copies constitute the same instrument. 

  

							
	 	 	 Shareholder Agreement
  
	  	   
	 27 
	    

 Appendix I - Definitions 
  

			
		
	“2016 annual objectives”	  	has the meaning ascribed in Article 10.2.
		
	“Baina Inc.”	  	has the meaning ascribed in the recitals of the Agreement.
		
	“Agreement”	  	has the meaning ascribed in the recitals of the Agreement.
		
	“Notice of supplementary capital increase subscription”	  	has the meaning ascribed in Article 9.2.3.
		
	“Changyou”	  	has the meaning ascribed in the recitals of the Agreement.
		
	“Founder”	  	refers to Mr. Yongzhi Yang
		
	“Founder shareholders”	  	refer to Mr. Yongzhi Yang, Mr. Tiefeng Liu, Mr. Zhou Yu and Mr. Sen Li.
		
	“Dolphin Browser”	  	refers to the Dolphin Browser – a kind of browser of smartphones developed and operated by the group.
		
	“Subsidiary”	  	refers to the subsidiary established by a person at any place, who: (1) is at the control position at the board of directors of the said subsidiary; (2) controls over 50% of equities of the said subsidiary; (3) holds over 50% of
issued shares of the said subsidiary (excluding any part of exceeding designated amount which the subsidiary has no right to enjoy at the time of distribution of profits or capital); or (4) for the purpose of the Agreement, a subsidiary of the said
company includes and is limited to overseas subsidiary and domestic subsidiary.
		
	“Both Parties” or “either Party”	  	has the meaning ascribed in the recitals of the Agreement.
		
	“Company”	  	has the meaning ascribed in the recitals of the Agreement.
		
	“Shareholder”	  	refers to the shareholder of shares of the group companies (as the case may be).
		
	“Key employees”	  	refer to Yongzhi Yang, Tiefeng Liu, Zhou Yu, Sen Li, Huazhen Tan, Yan Yu, Hongliang Li, Jitang Hu and Chaodong Wu.

  

							
	 	 	 Shareholder Agreement
  
	  	   
	 28 
	    

			
	 “Eligible listing”
  

“Meeting notice”
	  	refers to the initial public offering and listing of the Company or any related party thereof on the New York Stock Exchange, the US or the Stock Exchange of Hong Kong, for the purpose of the Agreement. has the meaning ascribed
in Article 5.3.
		
	“Group”	  	refers to the Company and subsidiaries from time to time, and the group company refers to any of such companies;
		
	“Group businesses”	  	refer to the development and operation of Dolphin Browser – a kind of browser of smartphones and other products favourable to the user experience and business modes of Dolphin Browser for smartphones.
		
	“Closing date”	  	refers to the date of closing conducted according to the investment agreement.
		
	“Convertible bonds”	  	refer to convertible bonds issued by the Company to Overseas Changyou.
		
	“Domestic subsidiaries” “Overseas subsidiaries”	  	has the meaning ascribed in the recitals of the Agreement. has the meaning ascribed in the recitals of the Agreement.
		
	“US”	  	refers to the United States of America.
		
	“Option shares”	  	refer to shares of the Company which can be assigned after exercising the options under the employee stock option plan.
		
	“Liquidation event”	  	has the meaning ascribed in Article 14.1 has the meaning ascribed in Article 9.2.3.
		
	“Notice of capital increase subscription”	  	
		
	“Assignee”	  	has the meaning ascribed in Article 9.3.1.
		
	“Transfer notice”	  	has the meaning ascribed in Article 9.3.3.
		
	“Investment agreement”	  	has the meaning ascribed in the recitals of the Agreement.
		
	“Restricted businesses”	  	has the meaning ascribed in Article 16.1.
		
	 “Exercise notice”
 “Exercise
notice period”
	  	has the meaning ascribed in Article 10.3. has the meaning ascribed in Article 10.3.
		
	“Preferred liquidation return amount”	  	has the meaning ascribed in Article 14.1.
		
	“Employee shareholders”	  	refer to employees who become shareholders of the Company after exercising the options under the employee stock option plan.

  

							
	 	 	 Shareholder Agreement
  
	  	   
	 29 
	    

			
	“Employee stock option plan”	  	has the meaning ascribed in Article 13.1.
		
	 “Monthly active users”
 “Capital
increase shares”
	  	refer to users who start Dolphin Browser at least once a month. has the meaning ascribed in
Article 9.2.1.
		
	“Capital increase notice”	  	has the meaning ascribed in Article 9.2.2.
		
	“Dispute”	  	has the meaning ascribed in Article 20.3.1.
		
	“Arbitration rules”	  	has the meaning ascribed in Article 20.3.3.
		
	“Notice of arbitration”	  	has the meaning ascribed in Article 20.3.2.
		
	“Important employee shareholders”	  	has the meaning ascribed in Article 16.1. has the meaning ascribed in Article 9.3.1.
		
	“To-be-transferred shares”	  	
		
	“Transfer conditions”	  	has the meaning ascribed in Article 9.3.2.
		
	“Transfer notice” “China”	  	has the meaning ascribed in Article 9.3.2. refers to the People’s Republic of China, excluding Hong Kong, Macao and Taiwan for the purpose of the Agreement.

  

							
	 	 	 Shareholder Agreement
  
	  	   
	 30 
	    

 Appendix II – Compliance Deed of Employee Shareholders 

The Compliance Deed of Employee Shareholders (“the Deed”) is executed by the following parties on
[—] [—], [—]: 
  

	(1)	Glory Loop Limited (an overseas acquirer), a company with limited liability legally established and validly subsisting under the laws of the British Virgin Islands with registered address at P.O. Box 957, Offshore
Incorporations Centre, Road Town, Tortola, British Virgin Islands (the “Overseas Changyou”); 

  

	(2)	Baina Inc., a company with limited liability established and validly subsisting under the laws of the British Virgin Islands with its registered address at Coastal Building, Wickham’s Cay II, P.O. Box 2221, Road
Town, Tortola, British Virgin Islands (“Baina Inc.”); 

  

	(3)	MoboTap Inc., an exempted company established and validly subsisting under the laws of Cayman with its registered address at P.O. Box 613 GT, 4th Floor Harbour Centre, George Town, Grand Cayman KY1-1107, Cayman Islands
(the “Company”); 

 (Overseas Changyou and Baina Inc. are referred to collectively as “Existing Shareholders”) 

 

	(4)	[—], holder of [ID card] of No. [—], domiciled at [—] (the
“New Shareholder”). 

 Whereas: 
  

	A.	The Existing Shareholders concluded a shareholder agreement (the “Shareholder Agreement”) on [—], which specifies the relations between the Existing
Shareholders as shareholders of the Company and clauses reached concerning the management and operation of the Company. The Deed is attached with a copy of the Shareholder Agreement, marked with “A” for the convenience of identification.

  

	B.	On [—], according to the [—] concluded by and between the New Shareholder and Baina Inc./[the Company] (the
“Transfer Document”), Baina Inc. agreed to transfer to the New Shareholder/[the Company agreed to issue to the New Shareholder] all of its ownerships of statutory and beneficial interests of
[—] ordinary shares (the “Transferred Interests”). 

  

	C.	After executing the Deed, all the parties hereto shall conduct closing (the “Closing”) according to the Transfer Document to make the New Shareholder become the owner and holder of statutory and beneficial
interests of the Transferred Interests. 

  

	D.	The Deed is a supplementary agreement of the Shareholder Agreement. 

 The Deed is as follows upon negotiation:

  

	1.	Save as otherwise defined in the Deed, the terms and expressions hereunder shall have the definitions specified in the Shareholder Agreement. 

 

	2.	The New Shareholder confirms that he has read the Shareholder Agreement and hereby undertakes to the Existing Shareholders that, after the Closing, the New Shareholder shall, as an employee shareholder, fully fulfil,
undertake and comply with all clauses, undertakings, obligations and provisions under the Shareholder Agreement, just as the New Shareholder holds the Transferred Interests at all relevant time as an original party to the Shareholder Agreement.

  

							
	 	 	 Shareholder Agreement
  
	  	   
	 31 
	    

	3.	For the purpose of Article 20.5.2 of the Shareholder Agreement, the notice information of the New Shareholder is as follows: 

The New Shareholder: 
  

			
	Address	  	:
		
	Fax	  	:
		
	Attn.	  	:

  

	4.	Unless the Deed is otherwise changed or supplemented, all the force and effect of the Shareholder Agreement shall be maintained. 

  

	5.	The Deed shall be governed by the laws of Hong Kong. Any controversy, dispute or recourse incurred by or relating to the Deed, or breach, termination or invalidation arising therefrom shall be settled in a way
stipulated by the Shareholder Agreement. 

  

	6.	From the validation date hereof, the Deed and Shareholder Agreement shall constitute an instrument. However, if there is any conflict between the Deed and the Shareholder Agreement, the Deed shall prevail.

 [Remainder is intentionally left blank] 

  

							
	 	 	 Shareholder Agreement
  
	  	   
	 32 
	    

 The Deed shall be properly delivered at the date first written above. 

 

									
	Signed	 	)	 		 		 	
					
	and delivered by a subordinate as a deed	 		 		 	)	 	
					
	Glory Loop Limited (an overseas acquirer)	 	)	 		 		 	
					
	Witness:	 		 		 		 	
					
	Signed	 	)	 		 		 	
					
	and delivered by a subordinate as a deed	 		 		 	)	 	
					
	Baina Inc.	 	)	 		 		 	
					
	Witness:	 		 		 		 	
					
	Signed	 	)	 		 		 	
					
	and delivered by a subordinate as a deed	 		 		 	)	 	
					
	MoboTap Inc.	 		 	)	 		 	
					
	Witness:	 		 		 		 	
					
	Signed	 	)	 		 		 	
					
	and delivered by a subordinate as a deed	 		 		 	)	 	
					
	[New Shareholder]	 		 		 	)	 	
					
	Witness:	 		 		 		 	

  

							
	 	 	 Shareholder Agreement
  
	  	   
	 33 
	    

 Appendix III – Compliance Deed of Other Assignees 

The Compliance Deed of Other Assignees (“the Deed”) is executed by the following parties on [—]
[—], [—]: 
  

	(1)	Glory Loop Limited (an overseas acquirer), a company with limited liability legally established and validly subsisting under the laws of the British Virgin Islands with registered address at P.O. Box 957, Offshore
Incorporations Centre, Road Town, Tortola, British Virgin Islands (the “Overseas Changyou”); 

  

	(2)	Baina Inc., a company with limited liability established under laws of the British Virgin Islands with its registered address at Coastal Building, Wickham’s Cay II, P.O. Box 2221, Road Town, Tortola, British Virgin
Islands (“Baina Inc.”); 

  

	(3)	MoboTap Inc., an exempted company established and validly subsisting under the laws of Cayman with its registered address at P.O. Box 613 GT, 4th Floor Harbour Centre, George Town, Grand Cayman KY1-1107, Cayman Islands
(the “Company”); 

 (Overseas Changyou and Baina Inc. are referred to collectively as “Existing Shareholders”) 

 

	(4)	[—], [is a company with limited liability established and subsisting under [—] (registration No.: [—])/holder of [ID card] No. [—], [with its registered address at [—]/domiciled at [—]] (the “New Shareholder”). 

 Whereas: 

 

	A.	The Existing Shareholders concluded a shareholder agreement (the “Shareholder Agreement”) on [—], which specifies the relations between the Existing
Shareholders as shareholders of the Company and clauses reached concerning the management and operation of the Company. The Deed is attached with a copy of the Shareholder Agreement, marked with “A” for the convenience of identification.

  

	B.	On [—], according to the [—] concluded by and between the New Shareholder and [the name of assignor] (the
“Transfer Document”), [the name of assignor] agreed to transfer to the New Shareholder all of its ownerships of statutory and beneficial interests of [—] ordinary shares (the
“Transferred Interests”). 

  

	C.	After executing the Deed, all the parties hereto shall conduct closing (the “Closing”) according to the Transfer Document to make the New Shareholder become the owner and holder of statutory and beneficial
interests of the Transferred Interests. 

  

	D.	The Deed is a supplementary agreement of the Shareholder Agreement. 

 The Deed is as follows upon negotiation:

  

	1.	Save as otherwise defined in the Deed, the terms and expressions hereunder shall have the definitions specified in the Shareholder Agreement. 

 

	2.	The New Shareholder confirms that he has read the Shareholder Agreement and hereby undertakes to the Existing Shareholders that, after the Closing, the New Shareholder shall, as [the name of assignor], fully fulfil,
undertake and comply with all clauses, undertakings, obligations and provisions under the Shareholder Agreement, just as the New Shareholder holds the Transferred Interests at all relevant time as an original party to the Shareholder Agreement.

  

							
	 	 	 Shareholder Agreement
  
	  	   
	 34 
	    

	3.	For the purpose of Article 20.5.2 of the Shareholder Agreement, the notice information of the New Shareholder is as follows: 

The New Shareholder: 
  

			
	Address	  	:
		
	Fax	  	:
		
	Attn.	  	:

  

	4.	Unless the Deed is otherwise changed or supplemented, all the force and effect of the Shareholder Agreement shall be maintained. 

  

	5.	The Deed shall be governed by the laws of Hong Kong. Any controversy, dispute or recourse incurred by or relating to the Deed, or breach, termination or invalidation arising therefrom shall be settled in a way
stipulated by the Shareholder Agreement. 

  

	6.	From the validation date hereof, the Deed and Shareholder Agreement shall constitute an instrument. However, if there is any conflict between the Deed and the Shareholder Agreement, the Deed shall prevail.

 [Remainder is intentionally left blank] 

  

							
	 	 	 Shareholder Agreement
  
	  	   
	 35 
	    

 The Deed shall be properly delivered at the date first written above. 

 

									
	Signed	 	)	 		 		 	
					
	and delivered by a subordinate as a deed	 		 		 	)	 	
					
	Glory Loop Limited (an overseas acquirer)	 		 	)	 		 	
					
	Witness:	 		 		 		 	
					
	Signed	 	)	 		 		 	
					
	and delivered by a subordinate as a deed	 		 		 	)	 	
					
	Baina Inc.	 	)	 		 		 	
					
	Witness:	 		 		 		 	
					
	Signed	 	)	 		 		 	
					
	and delivered by a subordinate as a deed	 		 		 	)	 	
					
	MoboTap Inc.	 		 	)	 		 	
					
	Witness:	 		 		 		 	
					
	Signed	 	)	 		 		 	
					
	and delivered by a subordinate as a deed	 		 		 	)	 	
					
	[New Shareholder]	 		 		 	)	 	
					
	Witness:	 		 		 		 	

  

							
	 	 	 Shareholder Agreement
  
	  	   
	 36 
	    

 Appendix IV – Table of Authorities of the Board of Directors and CEO Granted by the Board of Directors 

  

							
	 	 	 Shareholder Agreement
  
	  	   
	 37 
	    

 Signature Page 
 To
witness hereof, all the parties hereto have instructed authorized representatives thereof to execute the Agreement at the date first written above. 
 Glory
Loop Limited (an overseas acquirer) 
  

			
	Signature:	 	  

	Name:	 	  

	Position:	 	  

  

							
	 	 	 Signature Page of Shareholder Agreement

 
	  	   
	 38 
	    

 Beijing Gamease Age Internet Technology Co., Ltd. (a domestic acquirer) 

 

			
	Signature:	 	  

	Name:	 	  

	Position:	 	  

  

							
	 	 	 Signature Page of Shareholder Agreement

 
	  	   
	 39 
	    

 Baina Inc. 
  

			
	Signature:	 	  

	Name:	 	  

	Position:	 	  

  

							
	 	 	 Signature Page of Shareholder Agreement

 
	  	   
	 40 
	    

			
	Mr. Yongzhi Yang
		
	Signature:	 	  

  

							
	 	 	 Signature Page of Shareholder Agreement

 
	  	   
	 41 
	    

 MoboTap Inc. (Cayman) 
  

			
	Signature:	 	  

	Name:	 	  

	Position:	 	  

  

							
	 	 	 Signature Page of Shareholder Agreement

 
	  	   
	 42 
	    

 MoboTap Inc. Limited 
  

			
	Signature:	 	  

	Name:	 	  

	Position:	 	  

  

							
	 	 	 Signature Page of Shareholder Agreement

 
	  	   
	 43 
	    

 MoboTap Inc. (US) 
  

			
	Signature:	 	  

	Name:	 	  

	Position:	 	  

  

							
	 	 	 Signature Page of Shareholder Agreement

 
	  	   
	 44 
	    

 Baina Zhiyuan (Chengdu) Technology Co., Ltd. 

 

			
	Signature:	 	  

	Name:	 	  

	Position:	 	  

  

							
	 	 	 Signature Page of Shareholder Agreement

 
	  	   
	 45 
	    

 Baina Zhiyuan (Beijing) Technology Co., Ltd. 

 

			
	Signature:	 	  

	Name:	 	  

	Position:	 	  

  

							
	 	 	 Signature Page of Shareholder Agreement

 
	  	   
	 46 
	    

 Beijing Baina Information Technology Co., Ltd. 

 

			
	Signature:	 	  

	Name:	 	  

	Position:	 	  

  

							
	 	 	 Signature Page of Shareholder Agreement

 
	  	   
	 47 
	    

 Baina (Wuhan) Information Technology Co., Ltd. 

 

			
	Signature:	 	  

	Name:	 	  

	Position:	 	  

  

							
	 	 	 Signature Page of Shareholder Agreement

 
	  	   
	 48 
	    

 Chengdu Xingyu Science and Technology Co., Ltd. 

 

			
	Signature:	 	  

	Name:	 	  

	Position:	 	  

  

							
	 	 	 Signature Page of Shareholder Agreement

 
	  	   
	 49 
	    

 Wuhan Xingyu Science and Technology Co., Ltd. 

 

			
	Signature:	 	  

	Name:	 	  

	Position:	 	  

  

							
	 	 	 Signature Page of Shareholder Agreement

 
	  	   
	 50 
	    

 Wuhan Hualian Chuangke Science and Technology Co., Ltd. 

 

			
	Signature:	 	  

	Name:	 	  

	Position:	 	  

  

							
	 	 	 Signature Page of Shareholder Agreement

 
	  	   
	 51 
	    

 Beijing Anzhuoxing Science and Technology Co., Ltd. 

 

			
	Signature:	 	  

	Name:	 	  

	Position:	 	  

  

							
	 	 	 Signature Page of Shareholder Agreement

 
	  	   
	 52Exhibit 10.6

 

 

BUILDING LEASE 

 

 

Between

 

Reece Gibson

 

as Landlord,

 

 

and

 

I.E.T., Inc.

 

as Tenant

 

 

Building:

 

4235 Commerce Street

Little River, South Carolina 29566

 

 

    	 

    	 

    

 

THIS LEASE (this “Lease”)
is made on the 15th day of September, 2014 between Reece Gibson, with an address at 4512 River Road, Stanfield, North Carolina
28163 (who is referred to in this Lease as “Landlord”) and I.E.T., Inc., a Nevada corporation, with an address
at 4235 Commerce Street, Little River, South Carolina 29566 (who is referred to in this Lease as “Tenant”).
This Lease consists of the following Basic Lease Provisions and Definitions and the attached General Conditions and Exhibits. The
Basic Lease Provisions and Definitions are referred to in this Lease as the “Basic Lease Provisions.”

 

BASIC LEASE PROVISIONS

1.           BUILDING means the structure located at 4235 Commerce Street, Little River, South Carolina 29566.

 

2.           COMMENCEMENT DATE means September 15, 2014.

 

3.          
EXPIRATION DATE means 11:59 p.m. on the last day of the month in which the day before the three (3) year anniversary
of the Commencement Date occurs.

 

4.           FIXED BASIC RENT initially means $4,800 per month ($4.80 annual per square foot rent based on 12,000 gross rentable
square feet), subject to adjustment downward for any Property Tax Adjustment (as hereinafter defined).

 

5.          
Notice ADDRESSES shall mean the following:

 

If to Tenant:

I.E.T., Inc.

4235 Commerce Street

Little River, South Carolina, 29566

Attention: President

 

If to Landlord:

Reese Gibson

4512 River Road

Stanfield, North Carolina, 28163

 

With copy to:

Hinson Faulk, PA

309 Post Office Drive

Indian Trail, NC 28079

Attn:Wesley S. Hinson, Esq

 

6.          
PREMISES mean and are agreed and deemed to be ±12,000 gross rentable square feet of the Building consisting
of ±2,400 gross rentable square feet of office space and ±9,600 gross rentable square feet of warehouse/assembly
space, which represents on the Commencement Date all of the rentable square feet at the Building.

 

    	Basic Lease Provisions and Definitions –
Page 1 of 2

    	 

    

 

DEFINITIONS

 

1.            LEGAL
REQUIREMENTS means all present and future laws and ordinances of federal, state,
municipal and county governments, and rules, regulations, orders and directives of
departments, subdivisions, bureaus, agencies or offices of such governments, or any other governmental, public or quasi-public
authorities having jurisdiction over the Building, and the directions of any public officer pursuant to law.

 

2.          
PRIME means the so-called annual prime rate of interest established and quoted by The Wall Street Journal (or
its successor), from time to time, but in no event greater than the highest lawful rate from time to time in effect.

 

3.           PERMITTED
USE means general office, manufacturing and warehouse uses.

 

4.            REAL
PROPERTY means the Building and the land upon which the Building stands,
together with adjoining parking areas, sidewalks, driveways, landscaping and land.

 

5.          
STATE means the State of South Carolina.

 

6.           TERM means the period of time beginning on the Commencement Date and ending on the Expiration Date.

 

 

3⁄4
End of Basic Lease Provisions and Definitions 3⁄4

 

    	Basic Lease Provisions and Definitions –
Page 2  of 2

    	 

    

 

General Conditions

 

1.           LEASE:

 

Landlord has leased the Premises to Tenant for
the Term.

 

2.           FIXED BASIC RENT:

 

Tenant will pay Landlord
the Fixed Basic Rent. The Fixed Basic Rent will be payable, in advance, on the first day of each calendar month during the Term,
except that a proportionately lesser amount will be paid for the first month of the Term if the Term commences on a day other than
the first day of the month. Tenant will pay Fixed Basic Rent to Landlord at Landlord’s address set forth in the first paragraph
of this Lease, or at such other place as Landlord may designate in writing, without demand and without counterclaim, deduction
or set off. The Fixed Basic Rent shall be reduced by an amount equal to seventy-five (75%) of the pro-rata monthly amount of any
reduction in annual property taxes that the Landlord receives as the result of any property tax appeal on the Premises (the “Property
Tax Adjustment”). For example, in the event Landlord successfully appeals the current property taxes levied against the
Premises and receives a $2400 discount on the annual property tax bill, then the Tenant shall be permitted to take seventy-five
percent (75%) of that amount, or $1800.00, and pro-rate that amount across 12 months resulting in a reduction to the Basic Rent
in the amount of $150.00 per month.

 

3.          
PROPERTY TAXES:

 

Landlord shall pay all
general real estate taxes related to the Premises during the Term.

 

4.          
UTILITIES:

 

Tenant shall pay all charges
for water, sewer, gas, electricity and other services and utilities used by Tenant on the Premises during the Term.

 

5.          
USE AND OCCUPANCY:

 

Tenant will use the Premises
solely for the Permitted Use.

 

6.          
CARE AND REPAIR OF PREMISES:

 

Tenant will not commit
any act that damages the Premises or Building and will take good care of the Premises, and will comply with all Legal Requirements
affecting the Premises or the Tenant’s use and/or occupancy of the Premises.

 

Landlord shall be
responsible, at his cost, for the repair of mechanical systems (e.g. heating and air condition), subject to a $500 annual deductible
to be paid by Tenant, and all repairs related to exterior building structure (e.g. roof, exterior walls). If any portion of the
$500 annual deductible is not paid by Tenant in any year during the Term or any Renewal Term (as hereinafter defined), such amount
shall carry forward for the remainder of the Term or Renewal Term, as the case may be. The maximum deductible to be paid by Tenant
for any Term or Renewal Term shall be $1,500. Tenant shall be responsible for repairs of all interior elements of the building
and the routine maintenance of the heating and air condition systems.

 

    	1

    	 

    

Not later than the
last day of the Term, Tenant will, at Tenant’s expense, remove from the Building all of Tenant’s personal property
and those improvements made by Tenant which Landlord has not elected by notice to Tenant to retain as Landlord’s property,
as well as all trade fixtures (other than built-in cabinet work) and moveable partitions. Tenant will repair all injury done by
or in connection with the installation or removal of said property, improvements, and the like; cap or terminate all telephone,
computer and data connections at service entry panels in accordance with Legal Requirements; and surrender the Premises in as good
condition as they were at the beginning of the Term, except for reasonable wear and damage by casualty or other cause not due to
the misuse or neglect by Tenant and/or Tenant’s agents. All property of Tenant remaining on the Premises after the last day
of the Term will be conclusively deemed abandoned and may be removed and discarded or stored at Tenant’s risk by Landlord,
and Tenant will pay Landlord for the cost of such removal, discarding and/or storage.

 

7.          
ALTERATIONS, ADDITIONS OR IMPROVEMENTS:

 

Tenant will not, without
first obtaining the written consent of Landlord, make any alterations, additions or improvements (collectively, “alterations”)
in, to or about the Premises. Unless the alterations affect the Building’s common facilities or systems or would otherwise
require a building permit, Landlord will not unreasonably withhold or delay its consent. Building systems include the life safety
(if any), plumbing, electrical, heating, ventilation and air conditioning systems in the Building. Tenant may, upon prior notice
to Landlord, perform minor cosmetic improvements, such as painting and wallpapering, without the prior consent of Landlord.

 

8.          
DAMAGES TO BUILDING:

 

If the Building is damaged by fire or any other
cause to such extent that the cost of restoration, as reasonably estimated by Landlord, will equal or exceed twenty-five percent
(25%) of the replacement value of the Building (exclusive of foundations) just prior to the occurrence of the damage, then Landlord
may, no later than the sixtieth (60th) day following the damage, give Tenant a notice electing to terminate this Lease. In such
event, this Lease will terminate on the thirtieth (30th) day after the giving of such notice, and Tenant will surrender possession
of the Premises on or before such date. If this Lease is not terminated pursuant to this Article, Landlord will restore the Building
and the Premises with reasonable promptness, subject to Force Majeure, as defined in Article 25 e) below, and subject to the availability
and adequacy of the insurance proceeds. Landlord shall not be obligated to restore fixtures and improvements owned by Tenant.

 

In any case in which use of the Premises is
affected by any damage to the Building, there will be either an abatement or an equitable reduction in Fixed Basic Rent, depending
on the period for which and the extent to which the Premises are not reasonably usable for general office use. The words “restoration”
and “restore” as used in this Article will include repairs.

 

    	2

    	 

    

 

9.          
EMINENT DOMAIN:  

 

If
Tenant’s use of the Premises is materially affected due to the taking by eminent domain of (a) the Premises or any part thereof;
or (b) any other part of the Building; then, in either event, this Lease will terminate on the date when title vests pursuant to
such taking. The Fixed Basic Rent will be apportioned as of such termination date and any Fixed Basic Rent paid for any period
beyond said date, will be repaid to Tenant. Tenant will not be entitled to any part of the award for such taking or any payment
in lieu thereof, but Tenant may file a separate claim for any taking of fixtures and improvements owned by Tenant which have not
become the Landlord’s property, and for moving expenses, provided the same will, in no way, affect or diminish Landlord’s
award. In the event of a partial taking which does not effect a termination of this Lease but does deprive Tenant of the use of
a portion of the Premises, there will be either an abatement or an equitable reduction in Fixed Basic Rent, depending on the period
for which and the extent to which the Premises are not reasonably usable for the Permitted Use.

 

10.        
LANDLORD'S REMEDIES ON DEFAULT:

 

If Tenant defaults in the payment of Fixed Basic
Rent or in the performance of any of the other covenants and conditions of this Lease or permits the Premises to become deserted,
abandoned or vacated, Landlord shall give Tenant written notice of such default, and if Tenant does not cure any Fixed Basic Rent
default or other default within ten (10) days after the giving of such notice (or if such other default is of such nature that
it cannot be completely cured within such period, if Tenant does not commence such curing within such ten (10) days and thereafter
proceed with reasonable diligence and in good faith to cure such default), then Landlord may terminate this Lease or Tenant’s
right to possession upon not less than twenty (20) days notice to Tenant, and on the date specified in such notice Tenant's right
to possession of the Premises will cease, but Tenant will remain liable as provided below in this Lease. If this Lease or Tenant’s
right to possession will have been so terminated by Landlord, Landlord may at any time thereafter recover possession of the Premises
by any lawful means and remove Tenant or other occupants and their effects. Landlord may, at Tenant’s expense, relet all
or any part of the Premises and may make such alterations, decorations or other changes to the Premises as Landlord considers appropriate
in connection with such reletting, without relieving Tenant of any liability under this Lease. Tenant shall pay to Landlord, on
demand, such expenses as Landlord may incur, including, without limitation, court costs and reasonable attorney's fees and disbursements,
in enforcing the performance of any obligation of Tenant under this Lease.

 

Tenant hereby waives all right of redemption
to which Tenant or any person under Tenant might be entitled by any Legal Requirement.

 

11.        
DEFICIENCY:

 

In any case where Tenant has defaulted and Landlord
has recovered possession of the Premises or terminated this Lease or Tenant’s right to possession, Tenant’s obligation
to pay Landlord all the Fixed Basic Rent up to and including the Expiration Date will not be discharged or otherwise affected.
Landlord will have all rights and remedies available to Landlord at law and in equity by reason of Tenant’s default, and
may periodically sue to collect the accrued obligations of the Tenant together with interest at Prime plus four percent per annum
from the date owed to the date paid, but in no event greater than the maximum rate of interest permitted by law.

 

    	3

    	 

    

 

12.        
SUBORDINATION:

 

This Lease will, at the option of any holder
of any underlying lease or holder of any first mortgage or first trust deed, be subject and subordinate to any such underlying
lease and to any first mortgage or first trust deed which may now or hereafter affect the Real Property, and also to all renewals,
modifications, consolidations and replacements of such underlying leases and first mortgage or first trust deed. Although no instrument
or act on the part of Tenant will be necessary to effectuate such subordination, Tenant will, nevertheless, within ten (10) days
prior written request by Landlord, execute and deliver such further instruments confirming such subordination of this Lease as
may be desired by the holders of such first mortgage or first trust deed or by any of the lessors under such underlying leases.
If any underlying lease to which this Lease is subject terminates, Tenant will, on timely request, recognize and acknowledge the
owner of the Real Property as Tenant’s landlord under this Lease.

 

13.      
  SECURITY DEPOSIT: 

 

No
security deposit is required.

 

14.        
RIGHT TO CURE TENANT'S BREACH:

 

If Tenant breaches any covenant or condition
of this Lease, Landlord may, on prior notice to Tenant (except that no notice need be given in case of emergency), cure such breach
at the expense of Tenant, and the reasonable amount of all expenses, including attorney's fees, incurred by Landlord in so doing
(whether paid by Landlord or not) will be deemed payable on demand.

 

15.      
  LIENS:

 

Tenant will not permit any lien or other encumbrance
to be filed as a result of any act or omission (or alleged act or omission) of Tenant. Tenant will, within twenty (20) days after
notice from Landlord, discharge or satisfy by bonding or otherwise any liens filed against Landlord or all or any portion of the
Real Property as a result of any such act or omission, including any lien or encumbrance arising from contract or tort claims.

 

16.         RIGHT TO INSPECT AND REPAIR:

 

Landlord or its designees may enter the Premises
(but will not be obligated to do so) at any reasonable time on reasonable notice to Tenant (except that no notice need be given
in case of emergency) for the purpose of: (a) inspection; (b) performance of any work or the making of such repairs, replacements
or additions in, to, on and about the Premises or the Building, as Landlord deems necessary or desirable; or (c) showing the Premises
to prospective purchasers, mortgages and tenants. Tenant will provide Landlord or its designees free and unfettered access to any
mechanical or utility rooms, conduits, risers or the like located within the Premises. Landlord shall have the right to enter the
space to perform inspections, surveys, measurements or such other reasonable activities as may be necessary to prepare the Premises
for occupancy by a succeeding tenant.

 

    	4

    	 

    

 

17.         TENANT’S
ESTOPPEL: 

 

Tenant
will, from time to time, on not less than ten (10) days prior written request by Landlord, execute, acknowledge and deliver to
Landlord an estoppel certificate (a) certifying that this Lease has not been modified and is in full force and effect or, if there
has been a modification of this Lease, that this Lease is in full force and effect; (b) specifying the dates to which the Fixed
Basic Rent have been paid; (c) stating whether or not, to the knowledge of the party executing such instrument, the other party
hereto is in default and, if such party is in default, stating the nature of such default; (D) stating the Commencement Date; and
(e) stating which options to renew the term have been exercised, if any.

 

18.          HOLDOVER
TENANCY:

Tenant agrees that it must surrender possession
of the Premises to Landlord on the Expiration Date or earlier termination of the Term. Tenant agrees to indemnify and hold Landlord
harmless from and against all liabilities, obligations, damages, penalties, claims, costs, charges and expenses, including attorneys'
fees, resulting from any delay by Tenant in so surrendering the Premises, including any claims made by any succeeding tenant based
on such delay.

 

19.        
INSURANCE:

 

(a)           Tenant’s Insurance. On or before the Commencement Date or Tenant's prior entry into the Premises, Tenant will
obtain and have in full force and effect, insurance coverage as follows:

 

(i)                
workers’ compensation in an amount required by law;

 

(ii)              
commercial general liability with commercially reasonable limits for a company such as Tenant containing an endorsement
naming Landlord, its agents, designees and lender as additional insureds, an aggregate limit per location endorsement, and no modification
that would make Tenant’s policy excess or contributing with Landlord’s liability insurance;

 

(iii)            
all risk property insurance for the full replacement value of all of Tenant’s furniture, fixtures, equipment,
alterations, improvements or additions that do not become Landlord’s property upon installation; and

 

    	5

    	 

    

 

(iv)            
any other form or forms of insurance or any increase in the limits of any of the coverages described above or other forms
of insurance as Landlord or the mortgagees or ground lessors (if any) of Landlord may reasonably require from time to time if in
the reasonable opinion of Landlord or said mortgagees or ground lessors said coverage and/or limits become inadequate or less than
that commonly maintained by prudent tenants with similar uses in similar buildings in the area.
All policies obtained by Tenant will be issued by carriers having ratings in Best’s Insurance Guide (“Best”)
of A and VIII, or better (or equivalent rating by a comparable rating agency if Best no longer
exists) and licensed in the State. All such policies must be endorsed to be primary and noncontributing with the policies
of Landlord being excess, secondary and noncontributing. No policy will be canceled, nonrenewed or materially modified without
thirty (30) days' prior written notice by the insurance carrier to Landlord. If the forms of policies, endorsements, certificates,
or evidence of insurance required by this Article are superseded or discontinued, Landlord may require other equivalent or better
forms. Evidence of the insurance coverage
required to be maintained by Tenant, represented by certificates of insurance issued by the insurance carrier, must be furnished
to Landlord prior to Tenant occupying the Premises and at least thirty (30) days prior to the expiration of current policies. Copies
of all endorsements required by this Article must accompany the certificates delivered to Landlord. The certificates will state
the amounts of all deductibles and self-insured retentions and that Landlord will be notified in writing thirty (30) days prior
to cancellation, material change, or non-renewal of insurance. If requested in writing by Landlord, Tenant will provide to Landlord
a certified copy of any or all insurance policies or endorsements required by this Article.

 

(b)         
Waiver of Claims. Landlord and Tenant hereby waive all claims and release each other and each other’s employees,
agents, customers and invitees from any and all liability for any loss, damage or injury to property occurring in, on, about or
to the Premises or the Building by reason of fire or other casualty, regardless of cause, including the negligence of Landlord
or Tenant and their respective employees, agents, customers and invitees, and agree that the property insurance carried by either
of them will contain a clause whereby the insurer waives its right of subrogation against the other party. Each party to this Lease
will give to its insurance company notice of the provisions of this Article 19 and have such insurance policies properly endorsed,
if necessary, to prevent the invalidation of such insurance by reason of the provisions of this Article 19(b). Each party shall
bear the risk of its own deductibles. Landlord and Tenant acknowledge that the insurance requirements of this Lease reflect their
mutual recognition and agreement that each party will look to its own insurance and that each can best insure against loss to its
property and business no matter what the cause. If Tenant fails to maintain insurance or self-insures for loss including, without
limitation, business interruption, Tenant shall be deemed to have released Landlord for all loss or damage which would have been
covered if Tenant had so insured.

 

(c)         
Building Insurance. Landlord, at his cost, will at all times during the Term carry a policy of insurance which insures
the Building, including the Premises, if any, against loss or damage by fire or other casualty (namely, the perils against
which insurance is afforded by a standard fire insurance policy); provided, however, that Landlord will not be responsible for,
and will not be obligated to insure against, any loss of or damage to any personal property or trade fixtures of Tenant or any
alterations which Tenant may make to the Premises or any loss suffered by Tenant due to business interruption. All insurance maintained
by Landlord pursuant to this Article may be effected by blanket insurance policies.

 

    	6

    	 

    

 

20.         BROKER:

 

Tenant and Landlord represent
and warrant to the each other that no broker brought about this transaction, and each agrees to indemnify and hold the other harmless
from any and all claims of any broker(s) arising out of or in connection with the negotiations of or entering into of this Lease
by Tenant and Landlord.

 

21.          NOTICES:

 

Any notice by either party
to the other shall be in writing and shall be deemed to have been duly given only if (a) delivered personally. (b) sent by registered
mail or certified mail return receipt requested in a postage paid envelope or (c) sent by nationally recognized overnight delivery
service, if to Tenant, at the Building; if to Landlord, at Landlord’s address as set forth above or, to either, at such other
address as Tenant or Landlord, respectively, may designate in writing. Notice shall be deemed to have been duly given, if delivered
personally, on delivery thereof, if mailed, upon the seventh (7th) day after the mailing thereof, or if sent by overnight
delivery service, the next business day.

 

22.         SUBLEASE AND ASSIGNMENT

 

Tenant shall not have the
right to assign this Lease, in whole or in part, or sublease all or any part of the Premises without first obtaining Landlord’s
consent, which said consent shall not be unreasonably withheld, conditioned or delayed.

 

23.         OPTION TO RENEW:

 

(a)               
If the term of this Lease shall then be in full force and effect and Tenant has complied fully with its obligations hereunder,
Tenant shall have the option to extend the term of this Lease for one period of three (3) years (the ‘Renewal Term’)
commencing on the day immediately following the Expiration Date; provided, however, that Tenant shall give Landlord notice of its
election to extend the term no later than sixty (60) days prior to the Expiration Date of the Term. This Lease may continue
for two (2) successive Renewal Terms and will be renewed at the end of each Renewal Term; provided,
however that, Tenant shall give Landlord notice of its election to extend the term no later than sixty (60) days prior to the Expiration
Date of the Renewal Term.

 

(b)              
Any extension of the term of this Lease shall be upon the same terms, covenants and conditions, as herein set forth, except
that the Fixed Basic Rent shall be $5,100 per month for the first Renewal Term ($5.10 annual per square foot rent based
on 12,000 gross rentable square feet), subject to any Property Tax Adjustment, and $5,400
per month for the second Renewal Term ($5.40 annual per square foot rent based on 12,000 gross rentable square feet), subject
to any Property Tax Adjustment. If Tenant shall duly give notice of its election to extend
the term of this Lease, the Renewal Term shall be added to and become a part of the Term of this Lease (but shall not be considered
a part of the initial Term), and any reference in this Lease to the “Term of this Lease”, the “Term
hereof”, or any similar expression shall be deemed to include such Renewal Term, and, in addition, the term “Expiration
Date” shall thereafter mean the last day of such Renewal Term. Landlord shall have no obligation to perform any alteration
or preparatory or other work in and to the Premises or provide a tenant improvement allowance and Tenant shall continue possession
thereof in its "as is" condition.

 

    	7

    	 

    

 

24.        
MISCELLANEOUS:

 

(a)               
If any of the provisions of this Lease, or the application of such provisions, will be invalid or unenforceable, the remainder
of this Lease will not be affected, and this Lease will be valid and enforceable to the fullest extent permitted by law.

 

(b)              
The submission of this Lease for examination does not constitute a reservation of, or option for, the Premises, and this
Lease is submitted to Tenant for signature with the understanding that it will not bind Landlord unless and until it has been executed
by Landlord and delivered to Tenant or Tenant’s attorney or agent and until the holder of any mortgage will have unconditionally
approved this Lease, to the satisfaction of Landlord, if such approval is required under the terms of such mortgage.

 

(c)               
No representations or promises will be binding on the parties to this Lease except those representations and promises expressly
contained in the Lease.

 

(d)              
The Article headings in this Lease are intended for convenience only and will not be taken into consideration in any construction
or interpretation of this Lease or any of its provisions.

 

(e)               
Force Majeure means and includes those situations beyond either party’s reasonable control, including acts of God;
strikes; inclement weather; or, where applicable, the passage of time while waiting for an adjustment of insurance proceeds. Any
time limits required to be met by either party hereunder, whether specifically made subject to Force Majeure or not, except those
related to the surrender of the Premises by the end of the Term or payment of Fixed Basic Rent, will, unless specifically stated
to the contrary elsewhere in this Lease, be automatically extended by the number of days by which any required performance is delayed
due to Force Majeure.

 

(f)               
No failure by either party to insist upon the strict performance of any covenant, agreement, term or condition of this Lease,
or to exercise any right or remedy upon a breach of any such covenant, agreement, term or condition, and no acceptance by Landlord
of full or partial rent during the continuance of any such breach by Tenant, will constitute a waiver of any such breach or of
such covenant, agreement, term or condition. No consent or waiver, express or implied, by either party to or of any breach of any
covenant, condition or duty of the other party will be construed as a consent or waiver to or of any other breach of the same or
any other covenant, condition or duty, unless such consent or waiver is in writing and signed by the party granting such consent
or waiver.

 

(g)              
Landlord covenants that if, and so long as, Tenant pays Fixed Basic Rent as required under this Lease, and performs Tenant’s
other covenants under this Lease, Landlord will do nothing to affect Tenant’s right to peaceably and quietly have, hold and
enjoy the Premises for the Term, subject to the provisions of this Lease.

 

    	8

    	 

    

 

(h)              
The provisions of this Lease will apply to, bind and inure to the benefit of Landlord and its respective heirs, successors,
legal representatives and assigns. The term “Landlord” as used in this Lease means only the owner or a master
lessee of the Building, so that in the event of any sale of the Building or of any master lease thereof, the Landlord named herein
will be and hereby is entirely freed and relieved of all covenants and obligations of Landlord under this Lease accruing after
such sale, and it will be deemed without further agreement that the purchaser or the new master lessee of the Building has assumed
and agreed to carry out any and all covenants and obligations of Landlord accruing under this Lease after such sale.

 

(i)                
To the extent such waiver is permitted by law, the parties waive trial by jury in any action or proceeding brought in connection
with this Lease or the Premises. This Lease will be governed by the laws of the State (without the application of any conflict
of laws principles), and any action or proceeding in connection with this Lease shall be decided in the courts of the State.

 

(j)                
Any State statutory provisions dealing with termination rights due to casualty, condemnation, delivery of possession or
any other matter dealt with by this Lease are superseded by the terms of this Lease.

 

(k)              
Notwithstanding anything to the contrary contained in this Lease, in no event will Landlord or Tenant be liable to the other
for the payment of consequential, punitive or speculative damages.

 

(l)                
Each party agrees that it will not raise or assert as a defense to any obligation under this Lease, or make any claim that
this Lease is invalid or unenforceable, due to any failure of this document to comply with ministerial requirements, including
requirements for corporate seals, attestations, witnesses, notarizations or other similar requirements, and each party hereby waives
the right to assert any such defense or make any claim of invalidity or unenforceability due to any of the foregoing.

 

(m)            
This Lease may be executed in multiple counterparts, each of which, when assembled to include an original signature for
each party contemplated to sign this Lease, will constitute a complete and fully executed original. All such fully executed counterparts
will collectively constitute a single Lease agreement. Tenant expressly agrees that if the signature of Landlord and/or Tenant
on this Lease is not an original, but is a digital, mechanical or electronic reproduction (such as, but not limited to, a photocopy,
fax, e-mail, PDF, Adobe image, JPEG, telegram, telex or telecopy), then such digital, mechanical or electronic reproduction shall
be as enforceable, valid and binding as, and the legal equivalent to, an authentic and traditional ink-on-paper original wet signature
penned manually by its signatory.

 

    	9

    	 

    

 

The
parties to this Lease have executed and delivered this Lease as of the date set forth above.

 

	LANDLORD:	 	TENANT:	 
	 	 	 	 	 	 
	Reece Gibson	 	I.E.T., Inc.	 
	 	 	 	 	 	 
	By:	/s/ Reece Gibson	 	By:	/s/ Thomas S. Gifford                          	 
	 	 	 	Its: 	
        Executive Vice President &  

        Chief Financial Officer
	 
	 	 	 	 	 	 

 

10

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