Document:

English translation of the Agreement

 Exhibit 10.17 
 Agreement between 7 Days Inn (Shenzhen) Co., Ltd. and Mr. Nanyan Zheng 
 This Agreement
between 7 Days Inn (Shenzhen) Co., Ltd. and Mr. Nanyan Zheng (this “Agreement”) is entered into by and between the following parties on
                    . 
 (1) 7
Days Inn (Shenzhen) Co., Ltd. (“Lender”) 
 Address: Multi-function Building (F/2-7; part of F/1), No. 198
Fuhua Road, Futian District, Shenzhen 
 (2) Nanyan Zheng (“Borrower”) 
 Sex: Male 
 PRC ID
Card No.: 440103196812216012 
 Address: Room 1402, No. 30 Compound 2, Chengang Road, Liwan District, Guangzhou 
 WHERAREAS, Lender, a wholly foreign-owned enterprise established in Shenzhen, Guangdong by 7 Days Group Holdings Limited, intends to establish Wuxi
Shenglong Hotel Management Co., Ltd. (“Wuxi Shenglong”) in Wuxi with Haokang Chen (PRC ID Card No.: [            ]) and Jun Shi (PRC ID Card No.:
[            ]). In order to facilitate business registrations of Wuxi Shenglong as soon as practical, Lender intends to provide certain loan to Borrower, with which Borrower will
contribute to Wuxi Shenglong on behalf of Lender in the capacity of capital contributor, and grant a loan to Wuxi Shenglong in the capacity of a shareholder of Wuxi Shenglong. 
 IN WITNESS WHEREOF, the parties agree as below after consultation: 
 I. Loan 
 1. In accordance with the terms and conditions herein, Lender agrees to grant a loan of RMB1,650,000 to Borrower, of which, RMB150,000 will be used by
Borrower on behalf of Lender in the capacity of a capital contributor of Wuxi Shenglong to make a capital contribution to Wuxi Shenglong, and RMB1,500,000 will be used by Borrower to grant a loan to Wuxi Shenglong in the capacity of a shareholder of
Wuxi Shenglong. 
 The term of the loan shall be two years and may be extended upon mutual consent of the parties. During the
term of the loan or extension thereof, Borrower shall immediately prepay the loan if one of the following circumstances occurs: 
 (i) Borrower becomes dead, incompetent for civil conduct or has limited capacity for civil conduct; 
 (ii) Borrower
departs from or is dismissed by Lender or its affiliates; 
 (iii) Borrower commits any crimes or involves in any criminal
offenses; 
 (iv) Borrower has incurred any third party claims in excess of RMB500,000; and 
 (v) Lender chooses to exercise the equity purchase right as set forth in Section I Article 6. 

 2. Lender agrees to provide the loan to Borrower in installments within three months upon the receipt of
written notice from Borrower setting forth Borrower’s requirement for such loan, and Borrower shall issue a receipt to Lender at the same date when such loan is received. With respect to the loan of RMB1,650,000 in total, the RMB150,000 which
shall be used for capital contribution shall be remitted by the Borrower to the bank account of Wuxi Shenglong; and the RMB1,500,000 which shall be granted as shareholder loan to Wuxi Shenglong shall be remitted by Lender directly to the bank
account of Wuxi Shenglong. The undertakings made by Lender hereunder shall only apply to Borrower himself, rather than his successors or assignees. 
 3. Borrower agrees to accept the above loan granted by Lender, and hereby agrees and guarantees that the loan will be solely used for the capital contribution to Wuxi Shenglong (the amount of which is RMB150,000, accounting for 30% equity
shares of Wuxi Shenglong), and as the loan to be granted to Wuxi Shenglong (the amount of which is RMB1,500,000). Unless prior and written consent is obtained from Lender, Borrower shall not use the loan for any other purposes, nor shall Borrower
transfer or mortgage the equity of Wuxi Shenglong (“Borrower’s Equity”) and creditor’s rights and other interests that Borrower has obtained to any third parties. 
 4. Lender and Borrower hereby agree and acknowledge that Borrower shall, upon receipt of the equity and creditor’s rights of Wuxi Shenglong, pay off
the loan hereunder by the sole means of transferring all its equity and creditor’s rights in Wuxi Shenglong to Lender or its designated person (a legal person or natural person) upon a board resolution of Lender. 
 5. Lender and Borrower hereby agree and acknowledge that any proceeds Borrower has obtained by holding and transferring the equity and creditor’s
rights in Wuxi Shenglong, shall be considered as the consideration for the extension of loan and collection of interest hereunder, and shall be paid to Lender in such way as designated by Lender. 
 6. Lender and Borrower hereby agree and acknowledge that Lender shall have the right at any time to purchase from Borrower or designate one or more persons
(“Designee”) to purchase from Borrower all or a portion of the equity and creditor’s rights held by Borrower in Wuxi Shenglong (“Purchase Right for Equity and Creditor’s Rights”) by taking
any steps in its own discretion and in accordance with the price set forth in Section I Article 7 hereof, to the extent permitted under the laws of PRC. No third party other than Lender and Designee shall have such Purchase Right for Equity and
Creditor’s Rights. In the event Lender exercises the Purchase Right for Equity and Creditor’s Rights, the purchase price shall be regarded as the consideration of Borrower’s repayment of the loan hereunder to Lender and Lender shall
not be required to pay any additional purchase price to Borrower. 
 7. Purchase Price for Equity and Creditor’s Rights. Unless an
valuation is required by applicable PRC laws in connection with the exercise of Purchase Rights of Equity and Creditor’s Rights, the purchase price for the equity and creditor’s right (“Purchase Price for Equity and
Creditor’s Rights”) shall equal to the sum of contribution amount actually paid by Borrower for the equity and the loan actually granted by Borrower for the creditor’s rights. 
 8. Interest of the Loan. In the event of a transfer of the equity and creditor’s rights held by Borrower in Wuxi Shenglong to Lender or its Designee,
if the transfer price for such transfer equals to or is less than the principal of the loan under this Agreement, the loan hereunder shall

 
be deemed to be offered on an interest-free basis. If the transfer price exceeds the principal of the loan under this Agreement, the amount in excess of such principal shall be deemed as the
interest accrued on the loan hereunder and be paid by Borrower to Lender. 
 9. Borrower irrevocably undertakes to surrender all the rights it
may be entitled to as a shareholder and creditor of Wuxi Shenglong to Lender or its Designee for its exercise of such rights. 
 II Undertakings
by Borrower 
 Borrower undertakes to, in the capacity of a key shareholder of Wuxi Shenglong and during the term hereof, cause Wuxi Shenglong:

 1. unless prior and written consent is obtained from Lender, not to increase or decrease its registered capital, or change its capital
structure in any way; 
 2. to maintain its existence, and prudently and effectively conduct its business and dispose its affairs, in accordance
with sound financial and business standards and practices; 
 3. unless prior and written consent is obtained from Lender, not to sell,
transfer, mortgage or otherwise dispose the legal or beneficiary interests of any of its assets, business or income, or allow creation of any other encumbrances thereon; 
 4. unless prior and written consent is obtained from Lender, not to incur, assume, guarantee, or allow existence of any liability, except to the liabilities that (i) are incurred from the ordinary or
daily course of business rather than in the form of loans, (ii) have been disclosed to or approved by Lender in writing; 
 5. to conduct
all of its businesses continuously during the normal course of business, so as to maintain the value of its assets; 
 6. unless prior and
written consent is obtained from Lender, not to enter into any material contract (for the purpose of this Article, the material contract refers to any contract with a value in excess of RMB50,000), except to those contracts entered into during the
normal course of business; 
 7. unless prior and written consent is obtained from Lender, not to provide loan or credit facility to any person;

 8. to provide all material relating to its operation and financial status to Lender upon request; 
 9. unless prior and written consent is obtained from Lender, not to merger or consolidate with any person, acquire any person or invest in any person;

 10. to immediately notify Lender of any ongoing or potential lawsuit, arbitration or administrative proceeding in relation to its assets,
business and income; 

 11. to sign all documents, take all steps, initiate all allegations and make all defenses, that are
necessary or appropriate to maintain its ownership of all of its assets; 
 12. unless prior and written consent is obtained from Lender, not to
declare and distribute dividend to all shareholders in any ways; 
 13. to appoint the person designated by Lender as the director of Wuxi
Shenglong; and 
 14. to the extent permitted under the PRC laws, upon request by Lender from time to time, to unconditionally transfer all
equity and creditor’s rights of Borrower in Wuxi Shenglong to Lender or its designated representative, and cause other shareholders of Wuxi Shenglong to waive their pre-emptive rights to the equity transfer referred in this Article. 

III. Liability for Breach 
 If
the Borrower fails to perform its repayment obligations within the time period specified herein, it shall be charged a penalty interest at the rate of 0.01% of any amount payable and unpaid by it for each day of delay till the date on which the
principal amount of the loan, any penalty interest and other amounts are fully paid by the Borrower. 
 IV. Confidentiality 
 The parties hereto acknowledge and confirm that any information, whether oral or written, communicated between them in connection with this
Agreement shall be confidential information. Each party shall keep such information in confidence and make no disclosure to any third party without the prior written consent of the other party. Any disclosure by any employee of a party hereto or by
an entity engaged by such party shall be considered a disclosure by such party who shall be liable for any losses caused to the other party. Regardless of the reason for the termination of this Agreement, this provision shall survive such
termination. 
 V. Governing Law and Dispute Resolution 
 1. The conclusion, validity, interpretation, performance, amendment and termination of this Agreement and the settlement of any dispute hereunder shall be governed by the PRC laws. 
 2. Any dispute in connection with the interpretation or performance of this Agreement shall be settled first through amicable consultation
between the parties hereto. If no settlement can be made through such consultation, either party may file a lawsuit with a people’s court at the locality of the Lender. 
 3. If any dispute arises from the interpretation or performance of this Agreement or any dispute is under litigation, except for those
issues in dispute, each party hereto shall continue to exercise any of its other rights hereunder and perform any of its other obligations hereunder. 

 VI. Miscellaneous 
 1. This Agreement shall take effect as of the date of execution by both parties and shall remain in effect till the date on which both parties have respectively fully performed their obligations
hereunder. 
 2. This Agreement is made in two counterparts of equal legal effect and each shall be held by a party hereto.

 3. This Agreement may be amended or supplemented by the parties hereto upon written agreement. Any amendments and/or
supplements to this Agreement by the parties hereto shall be deemed to be an integral part hereof and shall have the same legal effect as that of this Agreement. 
 4. The invalidity of any provision hereof shall not affect the legal effect of the remaining provisions of this Agreement. 

 [Signature Page] 
  

			
	Lender: 7 Days Inn (Shenzhen) Co., Ltd. (company chop)
		
	Representative:	 	                    
	
	Borrower: Nanyan Zheng (signature)
		
	Representative:English translation of the Form of Management Agreement

 Exhibit 10.18 
 Version 1, 2009 
 

 
 7 Days Inn (Shenzhen) Co., Ltd. 
 Form of Management Agreement 
  

					
	7 Days Inn (Shenzhen) Co., Ltd.	  	1	  	www.7daysinn.cn

			
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	Party A:	  	7 Days Inn (Shenzhen) Co., Ltd.
	
	Company representative:
		
	Telephone number:	  	020-89226577
		
	Facsimile number:	  	020-89666157-8207
		
	Address:	  	Building No. 10, South 705 Guangzhou Avenue, Guangzhou (510290)
		
	Party B:	  	
		
	Legal representative:	  	
		
	Telephone number:	  	
		
	Facsimile number:	  	
		
	Address:	  	

 Based on the principles of equality and mutual benefit, honesty and trustworthiness and joint
development and through friendly discussions, Party A and Party B have reached the following agreements and hereby enter into this Agreement with respect to their cooperation through Party B’s investment to the managed hotel of 7 Days Inn
pursuant to relevant laws and regulations of the People’s Republic of China. 
 Anti-commercial bribery clauses: 
  

	1.	Party B warrants that during the negotiation and execution of this Agreement with Party A (7 Days Inn), it shall not, voluntarily or involuntarily, give a bribe or
bribes to relevant staff of Party A for commercial purpose, including but not limited to secretly giving money or goods (the value of which exceeds RMB500 Yuan) or engaging in other kinds of briberies. 

  

	2.	Where Party B violates the warranty contained in above Article 1, Party A and Party B agree to handle the circumstance pursuant to the following provisions:

  

	 	 ̈	Party B shall bear the liability for breach of contract by compensating Party A a liquidated damages of RMB3,000,000 Yuan. Moreover, Party A has the right to terminate
the agreement. 

  

					
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	 	‚	Where any act of bribery committed by Party B against the relevant staff of Party A constitutes a criminal offence, Party A reserves the right to report to the national
procuratorate organs. 

  

	3.	Party A’s anti-bribery reporting email is jubao@7daysinn.cn, and Party B may report the solicitation of bribe by Party A’s staff at any time through
this reporting email. 

  

	I.	Means of Cooperation 

  

	1-1	Party B agrees to make investment and conduct cooperation according to Party A’s business model of Management Hotel, namely, Party B shall be responsible for
providing legitimate property (hereinafter referred to as the “Property”) in compliance with Party A’s standard, conducting renovation and modification of the Property at its own expense completely in accordance with Party
A’s 7 Days Inn prevailing standards, and delivering to Party A for management and operation after the renovation and modification of the Property are completed and passed the standard inspection of Party A. The Property after the renovation and
modification are completed according to the prevailing standards of 7 Days Inn is called the “Managed Hotel”. Party B will not involve in the management and operation of the Managed Hotel. Party B agrees to pay Party A fees pursuant
to the provisions specified in Article 3 herein. 

  

	1-2	 Party B hereby provides the property for the operation of the Managed Hotel located at
No.            ,             Road,             District,
            City, with             floors,             rooms, and a
gross floor area of              square meters. The Property’s ownership certificate number is              and the land
certificate number is             . Party B warrants that it is the sole             

  

					
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(owner/ legitimate lessee) of the Property and enjoys complete              (ownership/user’s right) over the Property and has the
full power and right to deliver the Property to Party A for the operation of the Managed Hotel. 

  

	1-3	Party B shall be solely liable for any and all legal liabilities as well as compensation for losses in the event of any dispute arising out of the Property provided by
it (including but not limited to lawsuits or claims brought by any third party, closing down the Property and exercise of mortgage) or failure to carry out normal operation of the Managed Hotel, in connection with the land use right, property
ownership, user’s right over the Property, purpose of the Property and/or mortgage of ownership, and Party A shall not have any relevance therewith. 

  

	1-4	Party A only contributes brands, trademarks, technical services (including but not limited to engineering technical modification, hotel service training and marketing
and promotion) as well as management and operation (including but not limited to human resources, finance and operation management) rather than capital investment in any form. Party B and the Managed Hotel shall bear any and all creditors’
rights and debts and liabilities on their own account. 

  

	II.	Period of Cooperation 

  

	2-1	Party A and Party B agree that the period of cooperation shall be              years commencing from the
date the Managed Hotel is officially opened. 

  

	2-2	The Property provided by Party B shall be officially opened for business only after the renovation and modification in compliance with Party A’s standards on chain
hotels are completed, Party A’s standard renovation inspection is passed and Certificate of Conformity for Standard Renovation Inspection of Managed Hotel of 7 Days Inn Group 

 is issued by Party A and relevant licenses and permits are obtained. The official opening date shall be subject to the confirmation of Party A and Party B in writing, which date shall be
the commencement date of the period of cooperation. 

  

					
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	2-3	The parties shall enter into a separate cooperation agreement if they wish to continue their cooperation upon expiration of the period of cooperation. Where the parties
are unable to reach a separate cooperation agreement upon expiration, Party B shall stop using all of Party A’s brands, names, advertising signs, software systems and propaganda materials. 

  

	2-4	Waivers: The Certificate of Conformity for Standard Renovation Inspection of Managed Hotel of 7 Days Inn Group only represents a proof of conformity of the
renovation of the Property to Party A’s operation standards. It shall not be considered as Party A’s undertaking of responsibility to the renovation and engineering quality of the Property. The renovation material and engineering quality
of the renovation and modification of the Property shall be subject to relevant national laws and regulations and the acceptance by government authority. Furthermore, Party B shall be liable for the abovementioned engineering quality and the legal
consequences thereto. 

  

	III.	Payment of Fees 

  

	3-1	Upon Party B’s completion of renovation and modification to the Property and after accepted by Party A, Party A will provide the brand support of 7 Days Inn to and
will engage in the management and operation of the Managed Hotel. 

  

	3-2	During the period of this Agreement, Party A will provide brand support and management and operation services to the Managed Hotel pursuant to this Agreement. In
consideration of the above, Party B will withhold             % from the operating income of the Managed Hotel and promptly pay to Party A pursuant to the agreements. Party A has the right
to directly settle and deduct such amount from the operating income of the Managed Hotel pursuant to Article 3-3 herein. 

  

					
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	3-3	 After this Agreement is signed, Party A is entitled to, pursuant to the provision of Article 3-2, settle the payment from the operating income of the
Managed Hotel on a monthly basis and transfer the fees payable by Party B from the account of the Managed Hotel to Party A before the 15th of the following month. Party A shall issue invoice to Party B within five (5) business days after the receipt of
such payment. 

  

	3-4	All statistical criteria for financial purpose shall be subject to the covenants herein and the definitions defined in the appendices. In case of any disagreement
thereupon, the relevant national financial regulations shall prevail. 

  

	IV.	Deposit for Cooperation 

  

	4-1	Within ten (10) days from the effectiveness of this Agreement, Party B shall pay Party A a lump sum of RMB200,000Yuan as a deposit for cooperation, failure to do
so will be considered a material breach of Party B, and Party A is entitled to terminate this Agreement. Upon expiration of this Agreement and under the circumstance that Party B has not committed any breach of contract, Party A shall refund Party B
the full amount of the said deposit of RMB200,000Yuan without interest. 

  

	IV.	Renovation and Modification of the Property and Preparation for Opening 

  

	5-1	After this Agreement is signed, Party B shall promptly deliver the drawings of the Property and relevant engineering information to Party A. Party A will assist Party B
in formulating the plan for renovation and modification of the Property and the engineering budget pursuant to the prevailing standards of 7 Days Inn. Party B has the right to propose amendment to the modification plan and the engineering budget,
provided however, that the final renovation and modification plan shall be subject to Party A’s approval. 

  

					
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	5-2	After this Agreement is signed, Party B shall conduct modification and procurement according to the hardware manual and procurement list supplied by Party A and may
consult with Party A in writing in case of any disagreement. 

  

	5-3	The Property must pass Party A’s operation inspection and engineering inspection after the completion of renovation, modification and equipment deployment
according to Party A’s prevailing standards. The Managed Hotel shall be officially opened only after the Property passed Party A’s inspection by issuing the Certificate of Conformity for Standard Renovation Inspection of Managed Hotel of 7
Days Inn Group and the relevant licenses are ready. 

  

	5-4	All expenses relating to the abovementioned renovation and modification, engineering construction and purchasing of equipment shall be borne by Party B on its own
account. Party A will not bear any expenses incurred in connection with the Managed Hotel prior to its official opening. Any expenses incurred by Party A (including the wages and travel expenses of Party A’s on-site personnel and the costs for
purchasing the foregoing goods) shall be borne by Party B. 

  

	5-5	Party B shall be responsible for, and bear all expenses of, licenses (including but not limited to business license permitting hotel business, tax registration
certificate, fire control permit, hygiene permit, license for engaging in business in specific industries, permit for hosting foreigners, approval reply for environmental evaluation and waste discharging permit) necessary for lawful operation of the
Managed Hotel. Party B shall also be responsible for, and bear all expenses of, the coordination and cooperation with competent government authorities during the operation of the Managed Hotel. 

  

	5-6	Where the Managed Hotel fails to carry out normal operations due to lack of licenses or permits, Party B shall be liable for all legal liabilities and the compensation
for losses (including administrative penalties and operating cost). 

  

					
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	VI.	Special Financial Management Clauses 

  

	6-1	Party B shall not interfere with Party A’s financial management over the Managed Hotel. Party B’s responsibility is limited to conduct financial accounting,
prepare statements, file tax declaration and pay tax for the Managed Hotel. All legal liabilities arising out of the performance of aforesaid obligations by Party B shall be borne by itself and Party A shall not have any relevance therewith.

  

	VII.	Rights and Obligations of the Parties 

  

	7-1	Party A enjoys the right to manage and operate the Managed Hotel, including the rights relating to management and operation, employment and removal of personnel as well
as financial management. Party B shall not interfere with Party A’s exercising of such rights. 

  

	7-2	Headcount and the wages, subsidiaries, bonuses and other welfare for employees under the headcount of the Managed Hotel shall be considered operating cost and borne by
the Managed Hotel and shall be implemented according to the integrated and prevailing standard of 7 Days Inn of Party A. 

  

	7-3	Party A shall provide services to the Managed Hotel such as brand management, trademark license, engineering modification technology, hotel service training, marketing
and promotion and sale price mechanism management according to 7 Days Inn’s standards, and Party B shall not interfere with the provision of such services. 

  

	7-4	Party B has the right to approve the following financial matters of the Managed Hotel: 

  

	 	(1)	Procurement of significant fixed assets (the single amount of which exceeds RMB10,000Yuan); and 

  

					
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	 	(2)	Substantial maintenance (the amount for the maintenance of a single asset exceeds RMB50,000Yuan). 

  

	7-5	Party A’s software system (including but not limited to CRS system and management software), internal documents and management technology are considered commercial
secrets. Party B shall not duplicate, circulate, disclose or assist any third party to imitate such secrets. Party B shall not transfer or sub-license to any third party 7 Days’ brands, names, trademarks, signs, software systems and management
technology. Party B shall keep confidential of Party A’s commercial secrets and technical secrets it learned during the cooperation, and failure to do so will be considered divulging of secrets and the liability for breach of contract shall be
borne by Party B. This Clause survives the expiration, suspension or termination of this Agreement. 

  

	VIII.	Contract Termination 

  

	8-1	Upon expiration, suspension (termination) or dissolution of this Agreement, Party B and the Managed Hotel shall immediately stop using all of Party A’s brands,
names, advertising signs, software systems and propaganda materials. Failure to do so will be considered material breach of Party B and the liability for breach of contract shall be borne pursuant to Article 10-5 hereof. 

  

	8-2	Party B warrants that the Managed Hotel will be officially opened only after it obtained all necessary licenses (including but not limited to business license
permitting hotel business, tax registration certificate, fire control acceptance permit, hygiene permit, license for engaging in business in specific industries, permit for hosting foreigners, approval reply for environmental evaluation and waste
discharging permit) and passed Party A’s operation inspection and engineering inspection. Failure to do so will result in Party A’s refusal to give access to the ports of the Managed Hotel’s central reservation system (including but
not limited to the website, telephone for reservation, text message and WAP). Where Party B manages to engage in operating activities without satisfying the foregoing conditions, any and all legal risks and compensation for losses so caused shall be
borne by Party B and the Managed Hotel, and Party A shall not have any relevance therewith. 

  

					
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	8-3	If Party B fails to obtain all necessary licenses within sixty (60) days after the completion and acceptance of the construction of the Managed Hotel (calculated
from the date the Certificate of Conformity for Standard Renovation Inspection of Managed Hotel of 7 Days Inn Group is issued), it shall be considered Party B’s breach of contract, and Party A is entitled to terminate this Agreement. Where
Party A chooses to terminate this Agreement, it shall notify Party B in writing and this Agreement shall be automatically terminated after thirty (30) days from the date the notice for termination is issued. Moreover, Party A will not refund
the deposit for cooperation paid by Party B. 

  

	8-4	In respect of the remaining part that Party B has ownership, leased or has user’s rights in the entire property where the Managed Hotel is located, Party B shall
not use or sub-lease such remaining part to engage in hotel or entertainment business (other than the situation that Party A’s writing consent is obtained). Failure to do so will be considered material breach of Party B and the liability for
breach of contract specified in Article 10-5 hereof shall be borne by it. Moreover, Party A has the right to terminate this Agreement. 

  

	IX.	Insurance 

  

	9-1	Party B shall subscribe property insurance for the Property, its renovation and decoration, fixed assets and equipment attached thereto and pay the premium. Party B
shall handle the insurance claims pursuant to the insurance contracts, and neither Party A nor Party B shall bear the liability for compensation to each other. Where Party B fails to subscribe insurance according to this Clause, it shall bear the
compensation liability and the losses in the event of any insurance accidents. 

  

					
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	9-2	Public liability insurance and other compulsory insurance required by the national laws and regulations in connection with hotel business shall be subscribed and paid
by the Managed Hotel and the costs shall be treated as its operating cost. 

  

	X.	Brand Authorization and Commissioned Management 

  

	10-1	The Managed Hotel shall be in the form of registered legal person (such legal person is referred to as the “Specific Project Company”) to engage in
independent operation and be responsible for its own profit and loss. Party B shall be responsible for duly registering the Managed Hotel as legal person with local administration for industry and commerce. 

  

	10-2	The legal name of the Specific Project Company shall be approved by Party A. The legal representative or person in charge of the Specific Project Company shall be
appointed by Party B. The Specific Project Company, being the project company set up by Party B for the purpose of operating the Managed Hotel, shall engage in business activities related to the Managed Hotel only, and shall not engage in any other
business activities. All creditors’ rights and debts and legal liabilities arising out of the business operation of the Specific Project Company shall be borne by Party B, and Party A shall not have any relevance therewith.

  

	10-3	Taking into account the business model of the Managed Hotel that cooperation is conducted by means of investment by Party B, Party A hereby authorizes the Specific
Project Company to use 7 Days Inn’s brands, names, trademarks, signs, software systems and management technology, etc. owned by Party A solely for the Managed Hotel hereunder. 

  

	10-4	Without Party A’s written authorization, neither Party B nor the Specific Project Company shall, directly or indirectly, use or authorize any third party to use
any of Party A’s brands, names, trademarks, signs, software systems and management technology, etc. 

  

					
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	10-5	Neither Party B nor the Specific Project Company shall insinuate or damage Party A’s goodwill, brands and intellectual property rights. 

 

	10-6	Party B hereby commissions the Managed Hotel to Party A for its management and operation (including right of employment and removal of personnel and financial
management), that is, Party B authorizes Party A to exercise its management and operation right over the Managed Hotel, and Party B shall not involve in or interfere with such management and operation. The legal representative or person in charge of
the Specific Project Company (excluding the manager of the Managed Hotel) shall not receive any wages, bonuses, social insurance or subsidies relating to the Managed Hotel. 

  

	10-7	Upon dissolution, suspension (termination) or expiration of the Agreement, the Managed Hotel shall immediately stop using all of Party A’s brands, names,
trademarks, signs, software, management technology, etc. 

  

	10-8	The duration for brand authorization and commissioned management shall be consistent with that of this Agreement, and shall be dissolved, suspended (terminated) or
expired along with that of this Agreement. 

  

	10-9	Violation of the foregoing brand authorization or commissioned management covenants by Party B or the Specific Project Company (the Managed Hotel) shall be considered
material breach of Party B. Consequently the deposit for cooperation paid by Party B shall not be refunded to Party B. In addition, Party B shall bear the liability for breach of contract pursuant to Article 11-5 herein. 

  

	XI.	Liability for Breach of Contract 

  

	11-1	Party A and Party B agree that, during the period of the cooperation, in the event of destruction or loss of the Property or, the inability to run normal operation of
the Managed Hotel as a result of force majeure event, this Agreement shall be terminated and no party shall bear liability to each other, provided however, that Party A shall return Party B the deposit for cooperation paid by but not refunded to
Party B. 

  

					
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	11-2	All representations and warranties made by Party B herein (including Article 1-2 hereof) shall be true, correct and complete, otherwise Party B shall be considered
fraud and shall bear the liability for breach of contract. 

  

	11-3	Party B shall be considered in material breach in any of the following circumstances. In addition to Party A’s detaining of the deposit for cooperation, Party B
shall also bear the liability for breach of contract pursuant to Article 11-5 hereof. 

  

	 	a)	Party B unilaterally terminates this Agreement or materially violates this Agreement; 

  

	 	b)	It is unattainable to run normal operation of the Managed Hotel due to the reason solely attributed to Party B (including but not limited to the matters specified in
Article 1-3 and circumstances relating to licenses or permits); or 

  

	 	c)	Party B unilaterally opens the Managed Hotel before the Managed Hotel passes the standard inspection of and is accepted by Party A or before it obtains written consent
from Party A. 

  

	11-4	Party B shall be considered in material breach and shall bear the liability for breach of contract in any of the following circumstances: 

  

	 	a)	Party A unilaterally terminates this Agreement or materially violates this Agreement; or 

  

					
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		  	Version 1, 2009

  

	 	b)	It is unattainable to run normal operation of the Managed Hotel due to the reason solely attributed to Party A. 

  

	11-5	Liability for breach of contract: In the event of breach of contract by either party, the defaulting party shall, in addition to compensating the non-defaulting
party’s economic losses, pay to the non-defaulting party RMB3,000,000 Yuan as liquidated damages. Furthermore, the non-defaulting party has the right to terminate this Agreement. 

  

	XII.	Other Provisions 

  

	12-1	7 Days Inn - Operation Manual for Management Operation attached hereto shall be an integral part of this Agreement. Where any provision of 7 Days Inn - Operation Manual
for Management Operation is inconsistent with this Agreement, this Agreement shall prevail. 

  

	12-2	Financial definitions: “Total Income of Managed Hotel” means all income received by the Managed Hotel in its operation and management, including but
not limited to the income generated by sale of hotel rooms, food and beverage business, hotel merchandise, business services, compensation for insurance claims (that is, insurance compensation for business income) as well as any other income
generated by the Managed Hotel in any form, including income received in the form of cash, cheque, credit card and others. 

  

	XIII.	Miscellaneous 

  

	13-1	Each of Party A and Party B clearly understands its respective rights and obligations when entering into this Agreement and is willing to strictly implement the
provisions hereof. 

  

	13-2	Any disputes arising out of the performance of this Agreement shall be resolved through discussion. Where the parties are unable to resolve the dispute through
discussion, the dispute may be submitted to the People’s Court located at the domicile of the Managed Hotel. 

  

					
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		  	Version 1, 2009

  

	13-3	This Agreement shall become effective after being signed or sealed by both parties. This Agreement shall be executed in six (6) copies, all of which shall have
same legal effect, and each of Party A and Party B shall hold three (3) copies. 

  

			
	Party A:	 	Party B:
		
	Legal representative:	 	Legal representative:
		
	Date:	 	Date:

  

					
	7 Days Inn (Shenzhen) Co., Ltd.	  	15	  	www.7daysinn.cn

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