Document:

EX-10.7

 Exhibit 10.7 

INTELLECTUAL PROPERTY LICENSE AGREEMENT 

Between 
 CREDITEASE
HOLDINGS (CAYMAN) LIMITED 
 And 

YIRENDAI LTD. 
 Dated as
of November 9, 2015 

 TABLE OF CONTENTS 

 

					
	 ARTICLE 1 DEFINITIONS
	  	 	2	  
	 ARTICLE 2 GRANT AND SCOPE OF LICENSE
	  	 	4	  
	 ARTICLE 3 AGREEMENT ON SHARING OF INFORMATION AND DATA
	  	 	5	  
	 ARTICLE 4 MAINTENANCE AND SUPPORT
	  	 	6	  
	 ARTICLE 5 IMPROVEMENTS; DELIVERY
	  	 	6	  
	 ARTICLE 6 CONFIDENTIAL INFORMATION
	  	 	7	  
	 ARTICLE 7 TERM AND TERMINATION
	  	 	7	  
	 ARTICLE 8 DISCLAIMER
	  	 	7	  
	 ARTICLE 9 LIMITATION OF LIABILITY
	  	 	8	  
	 ARTICLE 10 MISCELLANEOUS
	  	 	8	  
	 SCHEDULE A CREDITEASE OWNED INTELLECTUAL PROPERTY
	  	 	A-1	  
	 SCHEDULE B YIRENDAI OWNED INTELLECTUAL PROPERTY
	  	 	B-1	  

  
 i 

 INTELLECTUAL PROPERTY LICENSE AGREEMENT 

This Intellectual Property License Agreement (this “Agreement”) is dated as of November 9, 2015, by and between
CreditEase Holdings (Cayman) Limited., a company incorporated under the laws of the Cayman Islands (“CreditEase”), and Yirendai Ltd., a company incorporated under the laws of the Cayman Islands (“Yirendai”) (each of
CreditEase and Yirendai a “Party” and, together, the “Parties”). 
 Capitalized terms used herein
and not otherwise defined shall have the meanings ascribed to such terms in Article 1 hereof. 
 RECITALS 

WHEREAS, as of the date hereof, Yirendai is the wholly owned subsidiary of CreditEase; 

WHEREAS, the parties currently contemplate that Yirendai will make an initial public offering (“IPO”) pursuant to a
Registration Statement on Form F-1 confidentially submitted for review and comment by the U.S. Securities and Exchange Commission under the U.S. Securities Act of 1933, as amended, to be filed publicly with the U.S. Securities and Exchange
Commission via its EDGAR system following the substantial completion of such review and comment and as financial market conditions permit (as so filed, and as amended thereafter from time to time, the “IPO Registration Statement”);
 
 WHEREAS, CreditEase and Yirendai have entered into certain Master Transaction Agreement, dated as of the date hereof which sets
forth and memorializes the principal arrangements between CreditEase and Yirendai regarding their relationship from and after the filing of the IPO Registration Statement and the consummation of the IPO, including the entering into of this
Agreement; and 
 WHEREAS, each Party is willing to enter into this Agreement and grant the licenses contemplated hereby on the terms and
conditions set forth herein. 
 NOW, THEREFORE, for and in consideration of the mutual promises and covenants hereinafter contained, the
Parties hereto agree as follows: 
 AGREEMENT 

DEFINITIONS. 

“Confidential Information” means proprietary business or technical information disclosed by one Party to the other
Party hereunder which 1) if disclosed in written, recorded, graphical or other tangible form, is marked “Proprietary,” “Confidential” or “Trade Secret,” or where it is evident from the nature and content of such
information that the disclosing Party considers it to be confidential, 2) if disclosed in oral form, is identified by the disclosing Party as “Proprietary”, “Confidential” or “Trade Secret” at the time of oral
disclosure, or 3) is evident from the nature and content of such information that the disclosing Party considers it to be confidential. 

  
 2 

 “Control Ending Date” means the earlier of (i) the first date upon
which members of the CreditEase Group no longer collectively own at least twenty percent (20%) of the voting power of the then outstanding securities of Yirendai and (ii) the first date upon which CreditEase, collectively with the other
members of the CreditEase Group, ceases to be the largest beneficial owner of the then outstanding voting securities of Yirendai (for purposes of this clause (ii), without considering holdings of institutional investors that have acquired Yirendai
securities in the ordinary course of their business and not with a purpose nor with the effect of changing or influencing the control of Yirendai).  

“CreditEase” means CreditEase, Inc., a company established under the laws of the Cayman Islands. 

“CreditEase Group” means CreditEase and its subsidiaries and VIEs, other than Yirendai and its subsidiaries and
VIE. 
 “CreditEase Owned Intellectual Property” means any Intellectual Property owned by the CreditEase or
any member of the CreditEase Group. 
 “Dispute” has the meaning set forth in Section 10.6 of this
Agreement.  
 “Dispute Resolution Commencement Date” has the meaning set forth in Section 10.6 of this
Agreement. 
 “Governmental Authority” means any federal, state, local, foreign or international court, government,
department, commission, board, bureau, agency, official or other regulatory, administrative or governmental authority. 

“Improvement” means any improvement, modification, translation, update, upgrade, new version, enhancement or other
derivative work. 
 “Intellectual Property” means intellectual property rights recognized in any jurisdiction
of the world, including (a) inventions, patents and patent applications; (b) trademarks, service marks, trade names, trade dress, Internet domain names, logos, designs, symbol and other source indicators, together with the goodwill
associated exclusively therewith; (c) copyrights, Software, websites; (d) registrations and applications for registration of any of the foregoing in (a) – (c); and (e) trade secrets, know-how and proprietary or confidential
information. 
 “IPO Completion Date” means the closing date of the IPO, on which the delivery of and payment
for the securities offered by Yirendai (excluding securities offered by Yirendai upon underwriter(s)’ exercise of over-allotment option) in connection with the IPO will take place.  

“Software” means any and all computer programs, software (in object and source code), firmware, middleware,
applications, APIs, web widgets, code and related algorithms, models and methodologies, files, documentation and all other tangible embodiments thereof. 

“Term” has the meaning prescribed thereto in Article 7 hereof. 

“U.S. GAAP” means generally accepted accounting principles in the United States as in effect from time to time. 

  
 3 

 “VIE” of any person means any entity that is controlled by such person and is
deemed to be a variable interest entity consolidated with such person for purposes of U.S. GAAP. As used herein, “control” means the possession, directly or indirectly, of the power to direct or cause the direction of the management and
policies of such entity, whether through ownership of voting securities or other interests, by contract or otherwise. 

“Yirendai” means Yirendai Ltd., a company established under the laws of the Cayman Islands. 

“Yirendai Group” means Yirendai and its subsidiaries and VIE. 

“Yirendai Owned Intellectual Property” means any Intellectual Property owned by Yirendai or any member of the Yirendai
Group.  
 GRANT AND SCOPE OF LICENSE. 

Section 2.1(a) Subject to the terms and conditions herein and sub-section (b) of this section, CreditEase, on behalf of itself and
other members of the CreditEase Group, hereby grants to Yirendai and other members of the Yirendai Group a worldwide, royalty-free, fully paid-up (except as set forth below in Article 4), non-sublicensable (except as set forth below in
Section 2.3), non-transferable (except as set forth below in Section 10.10), limited and non-exclusive license solely to use, reproduce, modify, prepare derivative works of, perform, display, or otherwise exploit (i) the CreditEase
Owned Intellectual Property that as of the date of this Agreement is used by any member of the Yirendai Group, including without limitation the Intellectual Property set forth on Schedule A, (ii) the CreditEase Owned Intellectual Property that
is or will be needed by any member of the Yirendai Group for its existing business(es) as of the date of this Agreement, and (iii) any Improvements to the foregoing (i) and (ii) in accordance with Section 5.1 within the term of
this Agreement. 
 (b) Notwithstanding the foregoing, CreditEase, on behalf of itself and other members of the CreditEase Group, hereby
grants to Yirendai and other members of the Yirendai Group a worldwide, royalty-free, fully paid-up (except as set forth below in Article 4), sublicensable, transferable, unlimited and exclusive license to use, reproduce, modify, prepare derivative
works of, perform, display, sublicense, transfer or otherwise exploit the trademarks set forth under items 41 to 54 in Schedule A, until and unless such trademarks are transferred to Yirendai or any member of the Yirendai Group. Without
Yirendai’s prior written consent, CreditEase or any member of the CreditEase Group shall not transfer such trademarks to any third party. 

Section 2.2 Subject to the terms and conditions herein, Yirendai, on behalf of itself and other members of the Yirendai Group, hereby
grants to CreditEase and the members of the CreditEase Group a worldwide, royalty-free, fully paid-up (except as set forth below in Article 4), non-sublicensable (except as set forth below in Section 2.3), non-transferable (except as set forth
below in Section 10.10), limited and non-exclusive license solely to use, reproduce, modify, prepare derivative works of, perform, display, or otherwise exploit (i) the Yirendai Owned Intellectual Property that as of the date of this
Agreement is used by any member of the CreditEase Group, including without limitation the Intellectual Property set forth on Schedule B, (ii) the Yirendai Owned Intellectual Property that is or will be needed by any member of the CreditEase
Group for its existing business(es) as of the date of this Agreement, and (iii) any Improvements to the foregoing (i) and (ii) in accordance with Section 5.2 within the term of this Agreement. 

  
 4 

 Section 2.3 Each licensed Party hereunder may sublicense the licenses received herein solely
(a) to its vendors, consultants, contractors and suppliers, solely in connection with their providing services to CreditEase and/or the CreditEase Group, on the one hand, or Yirendai and/or the Yirendai Group, on the other hand, as the case may
be; and (b) to its distributors, customers and end-users, solely in connection with the distribution, licensing, offering and sale of their current and future products and services related to each of their businesses, as applicable, but not for
any independent or unrelated use of any such Person. 
 Section 2.4 As between the Parties, CreditEase Group retains title to the
CreditEase Owned Intellectual Property, and does not convey any proprietary interest therein to Yirendai Group other than the licenses or as otherwise expressly specified herein. All rights in and to such CreditEase Owned Intellectual Property not
expressly granted herein are hereby reserved exclusively by CreditEase Group. Yirendai Group shall reasonably cooperate and provide reasonable assistance as may be necessary to verify CreditEase Group’s ownership rights in accordance with the
foregoing. As between the Parties, Yirendai Group retains title to the Yirendai Owned Intellectual Property and does not convey any proprietary interest therein to the CreditEase Group other than the licenses or as otherwise expressly specified
herein. All rights in and to such Yirendai Owned Intellectual Property not expressly granted herein are hereby reserved exclusively by Yirendai Group. CreditEase Group shall reasonably cooperate and provide reasonable assistance as may be necessary
to verify Yirendai’s ownership rights in accordance with the foregoing. 
 Section 2.5 Each Party acknowledges and agrees that,
except as set forth in Section 2.6, Article 4 and Article 5 hereof, neither Party has any obligations under this Agreement with respect to delivery, training, registration, maintenance, policing, support, notification of infringements or
renewal with respect to any Intellectual Property licensed herein. 
 Section 2.6 As between the Parties, each Party shall have sole
and exclusive discretion and control with respect to prosecuting, obtaining, maintaining, renewing and protecting applications and registrations for any Intellectual Property it owns and shall do so at its own costs and expenses during the term of
this Agreement, except as otherwise provided herein. Each Party shall notify the other Party promptly in writing in the event such Party becomes aware of any third party infringement or threatened infringement of any Intellectual Property owned by
the other Party. 
 AGREEMENT ON SHARING OF INFORMATION AND DATA. 

Section 3.1 To the extent permitted under applicable laws and regulations, each Party agrees to share with the other Party and its
subsidiaries and VIE(s) information and data that such Party acquires in the ordinary course of its business operation, including without limited to, borrower and investor information and credit and loan data, in the following manners: 

  
 5 

 (a) each Party agrees to provide the other Party and its subsidiaries and VIE(s) with interfaces
of its database or the database maintained and operated by its subsidiaries and VIEs such that the other Party and its subsidiaries and VIE(s) will have access to these databases to the extent reasonably requested by the requesting Party; 

(b) each Party agrees to provide, or cause to be provided, to the other Party, at any time, promptly after written request therefor, all
information and data regularly provided by one Party to the other Party prior to the IPO Completion Date and any information in the possession or under the control of such Party to the extent reasonably requested by the requesting Party. 

Each Party shall retain ownership of information and data that it shares with the other Party under this Section 3.1. Unless otherwise
agreed by the Parties in writing, information and data sharing under this Section 3.1 shall be free of charge. The Parties may further consult with each other to determine on a case-by-case basis and review on a quarterly basis the scope of the
information and data to be shared, the plan of implementation and fees to be charged (if any) for such information and data sharing. 

MAINTENANCE AND SUPPORT. 

During the term of this Agreement, each Party shall provide or cause to be provided to the other Party and its affiliates all support services
in connection with the Intellectual Property licensed under Article 2. Such maintenance and support services shall be provided pursuant to the service levels consistent with past practice, and may be charged at reasonably allocated costs on fair and
reasonable terms to be mutually agreed upon by the Parties. 
 IMPROVEMENTS; DELIVERY. 

Section 5.1 If CreditEase or Yirendai creates or develops any Improvements to the CreditEase Owned Intellectual Property during the term
of this Agreement, such Improvements shall be deemed a part of the CreditEase Owned Intellectual Property for the purposes of this Agreement and licensed to Yirendai Group pursuant to the license granted in Section 2.1. 

Section 5.2 If Yirendai or CreditEase creates or develops any Improvements to the Yirendai Owned Intellectual Property during the term of
this Agreement, such Improvements shall be deemed a part of the Yirendai Owned Intellectual Property for the purposes of this Agreement and licensed to CreditEase Group pursuant to the license granted in Section 2.2. 

  
 6 

 CONFIDENTIAL INFORMATION. 

Each Party hereto shall maintain the confidentiality of Confidential Information in accordance with procedures adopted by such Party in good
faith to protect Confidential Information disclosed to such Party hereunder, provided that such Party may disclose Confidential Information to (a) such Party’s officers, directors, employees, investors, agents, representatives, accountants
and counsel who agree to hold confidential the Confidential Information; (b) any Governmental Authority having jurisdiction over such Party to the extent required by applicable laws; or (c) any other Person to which such disclosure may be
necessary or appropriate (i) to effect compliance with any law applicable to such Party, (ii) in response to any subpoena or other legal process, or (iii) in connection with any litigation to which such Party is a Party; provided
further that, in the cases of clauses (b) or (c), such Party shall provide each other Party hereto with prompt written notice thereof so that the appropriate Party may seek (with the cooperation and reasonable efforts of each other Party) a
protective order, confidential treatment or other appropriate remedy. 
 TERM AND TERMINATION. 

Section 7.1 This Agreement shall come into effect on the IPO Completion Date. Unless this Agreement is terminated pursuant to the express
provisions of this Agreement or as agreed by the Parties in writing, the valid term of this Agreement shall end on the earlier of (i) the fifteenth anniversary of the IPO Completion Date, or (ii) one year after the Control Ending Date (the
“Term”). At least one (1) month prior to the expiration of the Term set forth above, the Parties shall consult each other on the extension of the Term, which shall be mutually agreed to by the Parties in writing. 

Section 7.2 Each Party shall have the right to terminate this Agreement in whole or in part if the other Party materially fails to comply
with Article 6 of this Agreement, provided such default has not been cured within thirty (30) days after written notice of such default to the defaulting Party (such thirty (30) days remediation period will be available only when such
breach is curable). 
 Section 7.3 Upon termination of this Agreement, in whole or in part, each Party shall promptly return to the
other Party or destroy all materials relating to the terminated portion which comprise any Confidential Information of the other Party, including all copies, translations and conversions thereof and shall make no further use thereof. Each Party
shall certify to the other Party in writing that it has complied with the provisions of this Section 7.4. 
 Section 7.4 The
obligations of the Parties in Articles 6-Article 10 shall survive termination of this Agreement. Nothing contained herein shall limit any other remedies that a Party may have for the default of the other Party under this Agreement nor relieve the
other Party of any of its obligations incurred prior to such termination. 
 DISCLAIMER. 

THE INTELLECTUAL PROPERTY LICENSED BY EACH PARTY HEREUNDER IS PROVIDED “AS IS.” NEITHER PARTY PROVIDES ANY WARRANTIES, EITHER
EXPRESS, IMPLIED, STATUTORY, OR OTHERWISE, WITH RESPECT TO ANY SUCH INTELLECTUAL PROPERTY, AND THE PARTIES SPECIFICALLY DISCLAIM ALL IMPLIED WARRANTIES, INCLUDING THE IMPLIED WARRANTIES OF MERCHANTABILITY, NON-INFRINGEMENT AND FITNESS FOR A
PARTICULAR PURPOSE OR ANY WARRANTIES THAT MAY BE OTHERWISE IMPLIED FROM ANY COURSE OF DEALING OR COURSE OF PERFORMANCE OR USAGE. 

  
 7 

 LIMITATION OF LIABILITY. 

EXCEPT FOR ANY BREACH OF ARTICLE 2 OR ARTICLE 6 OF THIS AGREEMENT, IN NO EVENT SHALL EITHER PARTY BE LIABLE TO THE OTHER PARTY FOR ANY LOST
PROFITS OR CONSEQUENTIAL, INDIRECT, PUNITIVE, EXEMPLARY, SPECIAL, OR INCIDENTAL DAMAGES ARISING FROM OR RELATING TO THIS AGREEMENT, WHETHER IN CONTRACT OR TORT OR OTHERWISE, EVEN IF SUCH PARTY KNEW OR SHOULD HAVE KNOWN OF THE POSSIBILITY OF SUCH
DAMAGES. 
 MISCELLANEOUS. 

Section 10.1 If required under PRC law, each Party shall record this Agreement at the Trademark Office of China and at the Patent Bureau
of China within three (3) months after the effectiveness of this Agreement. The Parties agree to work together in good faith to modify this Agreement or enter into one or more new intellectual property license agreements subordinate to this
Agreement as necessary in order to obtain such recordation. In the event of any conflict or inconsistency between any provision of such new intellectual property license agreement and the provisions set forth in the body of this Agreement, the
provisions set forth in this Agreement shall control and govern. 
 Section 10.2 This Agreement may not be amended except by an
instrument in writing executed by a duly authorized representative of each Party. 
 Section 10.3 Notices, offers, requests or other
communications required or permitted to be given by a Party pursuant to the terms of this Agreement shall be given in writing to the other Party to the following addresses (or at such other address for a Party as shall be specified in a notice given
in accordance with this Section): 
  

	 	(a)	if to CreditEase: 

 16/F, Tower C, SOHO New Town, 

88 Jianguo Road, Chaoyang District 

Beijing, 100022 
 The
People’s Republic of China 
  

	 	(b)	if to Yirendai: 

 4/F, Building 2A, No. 6 Lang Jia Yuan 

Chaoyang District, Beijing 
 The
People’s Republic of China 

  
 8 

 or to such other address, facsimile number or email address as the party to whom notice is given
may have previously furnished to the other in writing as provided herein. Any notice involving non-performance or termination shall be sent by hand delivery or recognized courier. All other notices may also be sent by facsimile or email, confirmed
by mail. All notices shall be deemed to have been given when received, if hand delivered; when transmitted, if transmitted by facsimile or email; upon confirmation of delivery, if sent by recognized courier; and upon receipt if mailed. 

If any of such notice or other correspondences is transmitted by facsimile or telex, it shall be treated as delivered immediately upon
transmission; if delivered in person, it shall be treated as delivered at the time of delivery; if posted by mail, it shall be treated as delivered five (5) days after posting. 

Section 10.4 This Agreement shall be governed by, and construed in accordance with, the laws of the State of New York, U.S.A without
regard to the conflict of laws rules stated therein. 
 Section 10.5 The Parties hereto acknowledge and agree that the Parties hereto
may be irreparably damaged if any of the provisions of this Agreement are not performed in accordance with their specific terms or are otherwise breached and that any non-performance or breach of this Agreement by any Party hereto may not be
adequately compensated by monetary damages alone and that the Parties hereto may not have any adequate remedy at law. Accordingly, in addition to any other right or remedy to which any Party hereto may be entitled, at law or in equity (including
monetary damages), such Party shall be entitled to enforce any provision of this Agreement (including Sections 2.1, 2.2 and 2.3) by a decree of specific performance and to temporary, preliminary and permanent injunctive relief to prevent breaches or
threatened breaches of any of the provisions of this Agreement without posting any bond or other undertaking. 
 Section 10.6 (a) Any
dispute, controversy or claim arising out of or relating to this Agreement or the breach, termination or validity thereof (“Dispute”) which arises between the Parties shall first be negotiated between appropriate senior executives
of each Party who shall have the authority to resolve the matter. Such executives shall meet to attempt in good faith to negotiate a resolution of the Dispute prior to pursuing other available remedies, within ten (10) days of receipt by a
Party of written notice of a Dispute, which date of receipt shall be referred to herein as the “Dispute Resolution Commencement Date.” Discussions and correspondence relating to trying to resolve such Dispute shall be treated as
Confidential Information of each of CreditEase and Yirendai developed for the purpose of settlement and shall be exempt from discovery or production and shall not be admissible in any subsequent proceeding between the Parties. 

(b) If the senior executives are unable to resolve the Dispute within sixty (60) days from the Dispute Resolution Commencement Date, then,
the Dispute will be submitted to the boards of directors of CreditEase and Yirendai. Representatives of each board of directors shall meet as soon as practicable to attempt in good faith to negotiate a resolution of the Dispute. 

  
 9 

 (c) If the representatives of the two boards of directors are unable to resolve the Dispute
within 120 days from the Dispute Resolution Commencement Date, on the request of any Party, the Dispute will be mediated by a mediator appointed pursuant to the mediation rules of the American Arbitration Association. Both Parties will share the
administrative costs of the mediation and the mediator’s fees and expenses equally, and each Party shall bear all of its other costs and expenses related to the mediation, including but not limited to attorney’s fees, witness fees, and
travel expenses. The mediation shall take place in Beijing, China or in whatever alternative forum on which the Parties may agree. 
 (d) If
the Parties cannot resolve any Dispute through mediation within forty five (45) days after the appointment of the mediator (or the earlier withdrawal thereof), each Party shall be entitled to submit the Dispute to Hong Kong International
Arbitration Centre for arbitration in accordance with the Hong Kong International Arbitration Centre Administered Arbitration Rules in force at the time when the Dispute is submitted. There shall be three (3) arbitrators. The third and
presiding arbitrator shall be qualified to practice law in New York. The place or seat of arbitration shall be Hong Kong. The award of the arbitral tribunal shall be final and binding upon the parties thereto, and the prevailing party may apply to a
court of competent jurisdiction for enforcement of such award. 
 Unless otherwise agreed in writing, the Parties will continue to honor all
commitments under this Agreement during the course of dispute resolution pursuant to the provisions of this Section with respect to all matters not subject to such dispute, controversy or claim. 

Section 10.7 This Agreement, together with all the Schedules and other attachments hereto, constitutes the entire agreement of the
Parties hereto as of the date hereof with respect to the subject matter hereof and thereof and supersedes all prior agreements, negotiations, discussions, writings, understandings, commitments and conversations with respect to the subject matter
hereof and thereof. 
 Section 10.8 If any term of this Agreement is determined by a court, administrative agency or arbitrator to be
invalid, illegal or incapable of being enforced by any rule of law or public policy, all other conditions and provisions of this Agreement shall nevertheless remain in full force and effect so long as the economic or legal substance of the
transactions contemplated hereby is not affected in any manner materially adverse to any Party. Upon such determination that any term or other provision is invalid, illegal or incapable of being enforced, the Parties hereto shall negotiate in good
faith to modify this Agreement so as to effect the original intent of the Parties as closely as possible in an acceptable manner to the end that transactions contemplated hereby are fulfilled to the fullest extent possible. 

Section 10.9 No failure or delay on the part of any Party hereto in the exercise of any right hereunder shall impair such right or be
construed to be a waiver of, or acquiescence in, any breach of any representation, warranty or agreement herein, nor shall any single or partial exercise of any such right preclude other or further exercise thereof or of any other right. All rights
and remedies existing under this Agreement or Schedules attached hereto are cumulative to, and not exclusive of, any rights or remedies otherwise available. 

Section 10.10 No Party may assign this Agreement or any rights or obligations hereunder, without the prior written consent of the other
Party, and any such assignment shall be void; provided, however, each Party may assign this Agreement to a successor entity in conjunction with such Party’s reincorporation in another jurisdiction or into another business form. Subject to the
foregoing, this Agreement shall be binding on and inure to the benefit of the Parties’ respective successors and permitted assigns. 

  
 10 

 Section 10.11 The headings in this Agreement are for purposes of reference only and shall
not in any way limit or affect the meaning or interpretation of any of the terms hereof. 
 Section 10.12 This Agreement may be
executed in one or more counterparts, each of which shall be deemed to be an original but all of which shall constitute one and the same agreement. Delivery of an executed counterpart of a signature page of this Agreement by facsimile or other
electronic imaging means will be effective as delivery of a manually executed counterpart of this Agreement. 
 [Signature page follows] 

  
 11 

 IN WITNESS WHEREOF, the Parties hereto, each acting under due and proper authority, have
executed this Agreement as of the day, month and year first above written. 
  

			
	CreditEase Holdings (Cayman) Limited
		
	By:	 	 /s/ Ning Tang

	Name:	 	Ning Tang
	Title:	 	Director
	
	Yirendai Ltd.
		
	By:	 	 /s/ Ning Tang

	Name:	 	Ning Tang
	Title:	 	Executive Chairman of the Board of Directors

 [Signature Page to Intellectual Property License Agreement] 

 Schedule A 

CreditEase Owned Intellectual Property 

A. Trademarks 
  

													
	 No.
	  	Marks	  	 Registrant/
Applicant
	  	Registration/
Application Number	  	Class	  	Registration/
Application
Date	  	Jurisdiction
	 1.
	  	

 	  	Pu Xin Heng Ye Technology Development (Beijing) Co., Ltd.

(“Pu Xin Heng Ye”)	  	11148099	  	10	  	7/10/2012	  	PRC
	 2.
	  	

 	  	Pu Xin Heng Ye	  	11148098	  	13	  	7/10/2012	  	PRC
	 3.
	  	

 	  	Pu Xin Heng Ye	  	11148097	  	14	  	7/10/2012	  	PRC
	 4.
	  	

 	  	Pu Xin Heng Ye	  	11148096	  	15	  	7/10/2012	  	PRC
	 5.
	  	

 	  	Pu Xin Heng Ye	  	11148095	  	18	  	7/10/2012	  	PRC
	 6.
	  	

 	  	Pu Xin Heng Ye	  	11148094	  	26	  	7/10/2012	  	PRC
	 7.
	  	

 	  	Pu Xin Heng Ye	  	11148093	  	29	  	7/10/2012	  	PRC
	 8.
	  	

 	  	Pu Xin Heng Ye	  	11148092	  	30	  	7/10/2012	  	PRC
	 9.
	  	

 	  	Pu Xin Heng Ye	  	11148091	  	32	  	7/10/2012	  	PRC
	 10.
	  	

 	  	Pu Xin Heng Ye	  	11148090	  	33	  	7/10/2012	  	PRC
	 11.
	  	

 	  	Pu Xin Heng Ye	  	11148089	  	34	  	7/10/2012	  	PRC
	 12.
	  	

 	  	CreditEase Hui Min Investment Management (Beijing) Co., Ltd.

(“CreditEase Hui Min”)	  	6218653	  	36	  	3/28/2010	  	PRC
	 13.
	  	

 	  	Pu Xin Heng Ye	  	11148087	  	37	  	7/10/2012	  	PRC
	 14.
	  	

 	  	Pu Xin Heng Ye	  	11148086	  	38	  	7/10/2012	  	PRC
	 15.
	  	

 	  	Pu Xin Heng Ye	  	11148085	  	40	  	7/10/2012	  	PRC
	 16.
	  	

 	  	Pu Xin Heng Ye	  	11148084	  	41	  	7/10/2012	  	PRC
	 17.
	  	

 	  	Pu Xin Heng Ye	  	11148083	  	42	  	7/10/2012	  	PRC
	 18.
	  	

 	  	Pu Xin Heng Ye	  	11148082	  	43	  	7/10/2012	  	PRC
	 19.
	  	

 	  	Pu Xin Heng Ye	  	11148081	  	44	  	7/10/2012	  	PRC

  
 Sch-A-1 

													
	 20.
	  	

 	  	Pu Xin Heng Ye	  	11148080	  	45	  	7/10/2012	  	PRC
	 21.
	  	

 	  	Pu Xin Heng Ye	  	11148118	  	10	  	7/10/2012	  	PRC
	 22.
	  	

 	  	Pu Xin Heng Ye	  	11148117	  	13	  	7/10/2012	  	PRC
	 23.
	  	

 	  	Pu Xin Heng Ye	  	11148116	  	14	  	7/10/2012	  	PRC
	 24.
	  	

 	  	Pu Xin Heng Ye	  	11148115	  	15	  	7/10/2012	  	PRC
	 25.
	  	

 	  	Pu Xin Heng Ye	  	11148114	  	18	  	7/10/2012	  	PRC
	 26.
	  	

 	  	Pu Xin Heng Ye	  	11148113	  	26	  	7/10/2012	  	PRC
	 27.
	  	

 	  	Pu Xin Heng Ye	  	11148112	  	29	  	7/10/2012	  	PRC
	 28.
	  	

 	  	Pu Xin Heng Ye	  	11148111	  	30	  	7/10/2012	  	PRC
	 29.
	  	

 	  	Pu Xin Heng Ye	  	11148110	  	32	  	7/10/2012	  	PRC
	 30.
	  	

 	  	Pu Xin Heng Ye	  	11148109	  	33	  	7/10/2012	  	PRC
	 31.
	  	

 	  	Pu Xin Heng Ye	  	11148108	  	34	  	7/10/2012	  	PRC
	 32.
	  	

 	  	Pu Xin Heng Ye	  	11148107	  	37	  	7/10/2012	  	PRC
	 33.
	  	

 	  	Pu Xin Heng Ye	  	11148106	  	38	  	7/10/2012	  	PRC
	 34.
	  	

 	  	Pu Xin Heng Ye	  	11148105	  	40	  	7/10/2012	  	PRC
	 35.
	  	

 	  	Pu Xin Heng Ye	  	11148104	  	41	  	7/10/2012	  	PRC
	 36.
	  	

 	  	Pu Xin Heng Ye	  	11148103	  	42	  	7/10/2012	  	PRC
	 37.
	  	

 	  	Pu Xin Heng Ye	  	11148102	  	43	  	7/10/2012	  	PRC
	 38.
	  	

 	  	Pu Xin Heng Ye	  	11148101	  	44	  	7/10/2012	  	PRC
	 39.
	  	

 	  	Pu Xin Heng Ye	  	11148100	  	45	  	7/10/2012	  	PRC
	 40.
	  	CreditEase	  	CreditEase Hui Min	  	6218653	  	36	  	03/28/2010	  	PRC
	 41.
	  	

 	  	Pu Xin Heng Ye	  	11499254	  	9	  	10/8/2012	  	PRC
	 42.
	  	

 	  	Pu Xin Heng Ye	  	11499253	  	35	  	10/8/2012	  	PRC
	 43.
	  	

 	  	Pu Xin Heng Ye	  	11499252	  	36	  	10/8/2012	  	PRC
	 44.
	  	

 	  	Pu Xin Heng Ye	  	11499251	  	38	  	10/8/2012	  	PRC
	 45.
	  	

 	  	Pu Xin Heng Ye	  	11499250	  	41	  	10/8/2012	  	PRC
	 46.
	  	

 	  	Pu Xin Heng Ye	  	11499249	  	42	  	10/8/2012	  	PRC
	 47.
	  	

 	  	Pu Xin Heng Ye	  	15658201	  	9	  	11/6/2014	  	PRC
	 48.
	  	

 	  	Pu Xin Heng Ye	  	15658201	  	35	  	11/6/2014	  	PRC
	 49.
	  	

 	  	Pu Xin Heng Ye	  	15658201	  	36	  	11/6/2014	  	PRC
	 50.
	  	

 	  	Pu Xin Heng Ye	  	15658201	  	42	  	11/6/2014	  	PRC
	 51.
	  	

 	  	Pu Xin Heng Ye	  	15658202	  	9	  	11/6/2014	  	PRC
	 52.
	  	

 	  	Pu Xin Heng Ye	  	15658202	  	35	  	11/6/2014	  	PRC
	 53.
	  	

 	  	Pu Xin Heng Ye	  	15658202	  	36	  	11/6/2014	  	PRC
	 54.
	  	

 	  	Pu Xin Heng Ye	  	15658202	  	42	  	11/6/2014	  	PRC

  
 Sch-A-2 

 Schedule B 

Yirendai Owned Intellectual Property 

A. Trademarks 
  

											
	 No.
	  	Marks	  	 Registrant/
Applicant
	  	Registration/
Application Number	  	Class	  	Jurisdiction
	 1.
	  	

 	  	Heng Cheng Technology Development (Beijing) Co., Ltd. (“Heng Cheng”)	  	16059911	  	35	  	PRC
	 2.
	  	

 	  	Heng Cheng	  	16059911	  	36	  	PRC
	 3.
	  	

 	  	Yi Ren Heng Ye Technology Development (Beijing) Co., Ltd. (“Heng Ye”)	  	Not applicable	  	35, 36, 42	  	Hong Kong
	 4.
	  	

 	  	Heng Ye	  	Not applicable	  	35, 36	  	PRC

 B. Domain Names 
  

											
	 No.
	  	 Domain Name
	  	Registrant	 	  	Renewal Date	 
	 1.
	  	yirendai.com	  	 	Heng Cheng	  	  	 	2017.12.31	  

  
 Sch-B-1EX-10.8

 Exhibit 10.8 

Loan Agreement 
 This Loan
Agreement (this “Agreement”) is made and entered into by and between the Parties below as of February 22, 2015 in Beijing, China: 
  

	 	(1)	Yi Ren Heng Ye Technology Development (Beijing) Co., Ltd. (“Lender”), a wholly foreign owned enterprise, organized and existing under the laws of the PRC, with its address at 03 FL, No. 8 Building,
No. 6 [3-3] Langjiayuan, Chaoyang District, Beijing; 

  

	 	(2)	Ning Tang (“Borrower”), a citizen of China with Chinese Identification No.:                  . 

Each of the Lender and the Borrower shall be hereinafter referred to as a “Party” respectively, and as the “Parties”
collectively. 
 Whereas: 
  

	 	1.	As of the date hereof, Borrower holds 40% of equity interests in Heng Cheng Technology Development (Beijing) Co., Ltd. (“Borrower Company”). All of the equity interest now held and hereafter acquired by
Borrower in Borrower Company shall be referred to as Borrower Equity Interest; 

  

	 	2.	Lender confirms that it agrees to provide Borrower with and Borrower confirms that he/she has received a loan which equals to RMB 12,000,000 to be used for the purposes set forth under this Agreement. 

After friendly consultation, the Parties agree as follows: 
  

	1	Loan 

  

	 	1.1	In accordance with the terms and conditions of this Agreement, Lender and Borrower hereby acknowledge that Borrower has obtained from Lender a loan in the amount of RMB 12,000,000 (the “Loan”). The term of the
Loan shall be 10 years from the effective date of this Agreement, which may be extended upon mutual written consent of the Parties. During the term of the Loan or the extended term of the Loan, Borrower shall immediately repay the full amount of the
Loan in the event any one or more of the following circumstances occur: 

  

	 	1.1.1	30 days elapse after Borrower receives a written notice from Lender requesting repayment of the Loan; 

  

	 	1.1.2	Borrower’s death, lack or limitation of civil capacity; 

  

	 	1.1.3	Borrower ceases (for any reason) to be an employee of Lender, Borrower Company or their affiliates; 

  
 1 

	 	1.1.4	Borrower engages in criminal act or is involved in criminal activities; 

  

	 	1.1.5	According to the applicable laws of China, foreign investors are permitted to invest in the principle business that is currently conducted by Borrower Company in China with a controlling stake and/or in the form of
wholly-foreign-owned enterprises, the relevant competent authorities of China begin to approve such investments, and Lender exercises the exclusive option under the Exclusive Option Agreement (the “Exclusive Option Agreement”) described in
this Agreement. 

  

	 	1.2	The Loan provided by Lender under this Agreement shall inure to Borrower’s benefit only and not to Borrower’s successors or assigns. 

 

	 	1.3	Borrower agrees to accept the aforementioned Loan provided by Lender, and hereby agrees and warrants using the Loan to subscribe the registered capital of Borrower Company. Without Lender’s prior written consent,
Borrower shall not use the Loan for any purpose other than as set forth herein. 

  

	 	1.4	Lender and Borrower hereby agree and acknowledge that Borrower’s method of repayment shall be at the sole discretion of Lender, and shall at Lender’s option take the form of Borrower’s transferring the
Borrower Equity Interest in whole to Lender or Lender’s designated persons (legal or natural persons) pursuant to the Lender’s exercise of its right to acquire the Borrower Equity Interest under the Exclusive Option Agreement, and any
proceeds from the transfer of the Borrower Equity Interest (to the extent permissible) shall be used by the Borrower to repay the Loan to Lender, in accordance with this Agreement and in the manner designated by Lender. 

 

	 	1.5	Lender and Borrower hereby agree and acknowledge that to the extent permitted by applicable laws, Lender shall have the right but not the obligation to purchase or designate other persons (legal or natural persons) to
purchase Borrower Equity Interest in part or in whole at any time, at the price stipulated in the Exclusive Option Agreement. 

  

	 	1.6	Borrower also undertakes to execute an irrevocable Power of Attorney (the “Power of Attorney”), which authorizes Lender or a legal or natural person designated by Lender to exercise all of Borrower’s
rights as a shareholder of Borrower Company. 

  

	 	1.7	When Borrower transfers Borrower Equity Interest to Lender or Lender’s designated person(s), in the event that the transfer price of such equity interest equals or is lower than the principal of the Loan under this
Agreement, the Loan under this Agreement shall be deemed an interest-free loan. In the event that the transfer price of such equity interest exceeds the principal of the Loan under this Agreement, the excess over the principal shall be deemed the
interest of the Loan under this Agreement payable by Borrower to Lender. 

  
 2 

	2	Representations and Warranties 

  

	 	2.1	Between the date of this Agreement and the date of termination of this Agreement, Lender hereby makes the following representations and warranties to Borrower: 

 

	 	2.1.1	Lender is a corporation duly organized and legally existing in accordance with the laws of China; 

  

	 	2.1.2	Lender has the legal capacity to execute and perform this Agreement. The execution and performance by Lender of this Agreement is consistent with Lender’s scope of business and the provisions of Lender’s
corporate bylaws and other organizational documents, and Lender has obtained all necessary and proper approvals and authorizations for the execution and performance of this Agreement; and 

 

	 	2.1.3	This Agreement constitutes Lender’s legal, valid and binding obligations enforceable in accordance with its terms. 

  

	 	2.2	Between the date of this Agreement and the date of termination of this Agreement, Borrower hereby makes the following representations and warranties: 

 

	 	2.2.1	Borrower has the legal capacity to execute and perform this Agreement. Borrower has obtained all necessary and proper approvals and authorizations for the execution and performance of this Agreement; 

 

	 	2.2.2	This Agreement constitutes Borrower’s legal, valid and binding obligations enforceable in accordance with its terms; and 

  

	 	2.2.3	There are no disputes, litigations, arbitrations, administrative proceedings or any other legal proceedings relating to Borrower, nor are there any potential disputes, litigations, arbitrations, administrative
proceedings or any other legal proceedings relating to Borrower. 

  

	3	Borrower’s Covenants 

  

	 	3.1	As and when he becomes, and for so long as he remains a shareholder of Borrower Company, Borrower covenants irrevocably that during the term of this Agreement, Borrower shall cause Borrower Company: 

 

	 	3.1.1	to strictly abide by the provisions of the Exclusive Option Agreement and the Exclusive Business Cooperation Agreement (“Exclusive Business Cooperation Agreement”) to which the Borrower Company is a party, and
to refrain from any action/omission that may affect the effectiveness and enforceability of the Exclusive Option Agreement and Exclusive Business Cooperation Agreement. 

  
 3 

	 	3.1.2	at the request of Lender (or a party designated by Lender), to execute contracts/agreements on business cooperation with Lender (or a party designated by Lender), and to strictly abide by such contracts/agreements;

  

	 	3.1.3	to provide Lender with all of the information on Borrower Company’s business operations and financial condition at Lender’s request; 

 

	 	3.1.4	to immediately notify Lender of the occurrence or possible occurrence of any litigation, arbitration or administrative proceedings relating to Borrower Company’s assets, business or income; 

 

	 	3.1.5	at the request of Lender, to appoint any persons designated by Lender as directors of Borrower Company; 

  

	 	3.2	Borrower covenants that during the term of this Agreement, he shall: 

  

	 	3.2.1	endeavor to keep Borrower Company to engage in its principle businesses; 

  

	 	3.2.2	abide by the provisions of this Agreement, the Power of Attorney, the Equity Interest Pledge Agreement (“Equity Interest Pledge Agreement”) and the Exclusive Option Agreement to which the Borrower is a party,
perform his obligations under this Agreement, the Power of Attorney, the Equity Interest Pledge Agreement and the Exclusive Option Agreement, and refrain from any action/omission that may affect the effectiveness and enforceability of this
Agreement, the Power of Attorney, the Equity Interest Pledge Agreement and the Exclusive Option Agreement; 

  

	 	3.2.3	not sell, transfer, mortgage or dispose of in any other manner the legal or beneficial interest in Borrower Equity Interest, or allow the encumbrance thereon of any security interest or the encumbrance, except in
accordance with the Equity Interest Pledge Agreement; 

  

	 	3.2.4	cause any shareholders’ meeting and/or the board of directors of Borrower Company not to approve the sale, transfer, mortgage or disposition in any other manner of any legal or beneficial interest in Borrower
Equity Interest, or allow the encumbrance thereon of any security interest, except to Lender or Lender’s designated person; 

  

	 	3.2.5	cause any shareholders’ meeting and/or the board of directors of the Borrower Company not to approve the merger or consolidation of Borrower Company with any person, or its acquisition of or investment in any
person, without the prior written consent of Lender; 

  
 4 

	 	3.2.6	immediately notify Lender of the occurrence or possible occurrence of any litigation, arbitration or administrative proceedings relating to Borrower Equity Interest; 

 

	 	3.2.7	to the extent necessary to maintain his ownership of the Borrower Equity Interest, execute all necessary or appropriate documents, take all necessary or appropriate actions and file all necessary or appropriate
complaints or raise necessary and appropriate defense against all claims; 

  

	 	3.2.8	without the prior written consent of Lender, refrain from any action /omission that may have a material impact on the assets, business and liabilities of Borrower Company; 

 

	 	3.2.9	appoint any designee of Lender as director of Borrower Company, at the request of Lender; 

  

	 	3.2.10	to the extent permitted by the laws of China, at the request of Lender at any time, promptly and unconditionally transfer all of Borrower Equity Interest to Lender or Lender’s designated representative(s) at any
time, and cause the other shareholders of Borrower Company to waive their right of first refusal with respect to the share transfer described in this Section; 

  

	 	3.2.11	to the extent permitted by the laws of China, at the request of Lender at any time, cause the other shareholders of Borrower Company to promptly and unconditionally transfer all of their equity interests to Lender or
Lender’s designated representative(s) at any time, and Borrower hereby waives his right of first refusal (if any) with respect to the share transfer described in this Section; 

 

	 	3.2.12	in the event that Lender purchases Borrower Equity Interest from Borrower in accordance with the provisions of the Exclusive Option Agreement, use such purchase price obtained thereby to repay the Loan to Lender; and

  

	 	3.2.13	without the prior written consent of Lender, not to cause Borrower Company to supplement, change, or amend its articles of association in any manner, increase or decreases its registered capital or change its share
capital structure in any manner. 

  

	4	Liability for Default 

  

	 	4.1	If Borrower conducts any material breach of any term of this Agreement, Lender shall have right to terminate this Agreement and require the Borrower to compensate all damages; this Section 4.1 shall not prejudice
any other rights of Lender herein. 

  
 5 

	 	4.2	Borrower shall not terminate this Agreement in any event unless otherwise required by applicable laws. 

  

	 	4.3	In the event that Borrower fails to perform the repayment obligations set forth in this Agreement, Borrower shall pay overdue interest of 0.01% per day for the outstanding payment, until the day Borrower repays the
full principal of the Loan, overdue interests and other payable amounts. 

  

	5	Notices 

  

	 	5.2	All notices and other communications required or permitted to be given pursuant to this Agreement shall be delivered personally or sent by registered mail, postage prepaid, by a commercial courier service or by
facsimile transmission to the address of such Party set forth below. A confirmation copy of each notice shall also be sent by email. The dates on which notices shall be deemed to have been effectively given shall be determined as follows:

  

	 	5.2.1	Notices given by personal delivery, by courier service or by registered mail, postage prepaid, shall be deemed effectively given on the date of delivery. 

 

	 	5.2.2	Notices given by facsimile transmission shall be deemed effectively given on the date of successful transmission (as evidenced by an automatically generated confirmation of transmission). 

 

	 	5.3	For the purpose of notices, the addresses of the Parties are as follows: 

  

			
	Lender:		Yi Ren Heng Ye Technology Development (Beijing) Co., Ltd.
	Address:		03 FL, No. 8 Building, No. 6 [3-3] Langjiayuan, Chaoyang District, Beijing
	Attn:		Ning Tang
	Phone:		
	Facsimile:		
		
	Borrower:		Tang Ning
	Address:		
	Phone:		
	Facsimile:		

  

	 	5.4	Any Party may at any time change its address for notices by a notice delivered to the other Party in accordance with the terms hereof. 

 

	6	Confidentiality 

 The Parties acknowledge that the existence and the terms of this
Agreement and any oral or written information exchanged between the Parties in connection with the preparation and performance this Agreement are regarded as confidential information. Each Party shall maintain confidentiality of all such
confidential information, and without obtaining the written consent of the other Party, it shall not disclose any relevant confidential information to any third parties, except for the information that: (a) is or will be in the public domain
(other than through the receiving Party’s unauthorized disclosure); (b) is under the obligation to be disclosed pursuant to the applicable laws or regulations, rules of any stock exchange, or orders of the court or other government
authorities; or (c) is required to be disclosed by any Party to its shareholders, directors, employees, legal counsels or financial advisors regarding the transaction contemplated hereunder, provided that such shareholders, directors,
employees, legal counsels or financial advisors shall be bound by the confidentiality obligations similar to those set forth in this Section. Disclosure of any confidential information by the shareholders, director, employees of or agencies engaged
by any Party shall be deemed disclosure of such confidential information by such Party and such Party shall be held liable for breach of this Agreement. 

  
 6 

	7	Governing Law and Resolution of Disputes 

  

	 	7.1	The execution, effectiveness, construction, performance, amendment and termination of this Agreement and the resolution of disputes shall be governed by the laws of China. 

 

	 	7.2	In the event of any dispute with respect to the construction and performance of this Agreement, the Parties shall first resolve the dispute through friendly negotiations. In the event the Parties fail to reach an
agreement on the dispute within 30 days after either Party’s request to the other Party for resolution of the dispute through negotiations, either Party may submit the relevant dispute to the China International Economic and Trade Arbitration
Commission for arbitration, in accordance with its then effective arbitration rules. The arbitration shall be conducted in Beijing. The arbitration award shall be final and binding on all Parties. 

 

	 	7.3	Upon the occurrence of any disputes arising from the construction and performance of this Agreement or during the pending arbitration of any dispute, except for the matters under dispute, the Parties to this Agreement
shall continue to exercise their respective rights under this Agreement and perform their respective obligations under this Agreement. 

  

	8	Miscellaneous 

  

	 	8.1	This Agreement should become effective upon execution by the Parties, and shall expire upon the date of full performance by the Parties of their respective obligations under this Agreement. 

 

	 	8.2	This Agreement shall be written in both Chinese and English language in two copies, each Party having one copy. The Chinese version and English version shall have equal legal validity. 

 

	 	8.3	This Agreement may be amended or supplemented through written agreement by and between Lender and Borrower. Such written amendment agreement and/or supplementary agreement executed by and between Lender and Borrower are
an integral part of this Agreement, and shall have the same legal validity as this Agreement. 

  
 7 

	 	8.4	In the event that one or several of the provisions of this Agreement are found to be invalid, illegal or unenforceable in any aspect in accordance with any laws or regulations, the validity, legality or enforceability
of the remaining provisions of this Agreement shall not be affected or compromised in any respect. The Parties shall strive in good faith to replace such invalid, illegal or unenforceable provisions with effective provisions that accomplish to the
greatest extent permitted by law the intentions of the Parties, and the economic effect of such effective provisions shall be as close as possible to the economic effect of those invalid, illegal or unenforceable provisions. 

 

	 	8.5	The attachments (if any) to this Agreement shall be an integral part of this Agreement and shall have the same legal validity as this Agreement. 

 

	 	8.6	Any obligations that occur or that are due as a result of this Agreement upon the expiration or early termination of this Agreement shall survive the expiration or early termination thereof. The provisions of Sections
4, 6, 7 and this Section 8.6 shall survive the termination of this Agreement. 

  
 8 

 IN WITNESS WHEREOF, the Parties have caused their authorized representatives to execute this Loan
Agreement as of the date first above written. 
  

					
	Lender:		Yi Ren Heng Ye Technology Development (Beijing) Co., Ltd.
			
	By:		 /s/ Ning Tang
		(Company seal affixed)
	Name:		Ning Tang		
	Title:		Legal Representative		
			
	Borrower:		Ning Tang		
			
	By:		 /s/ Ning Tang
		

 Loan Agreement 

This Loan Agreement (this “Agreement”) is made and entered into by and between the Parties below as of February 22, 2015 in
Beijing, China: 
  

	 	(1)	Yi Ren Heng Ye Technology Development (Beijing) Co., Ltd. (“Lender”), a wholly foreign owned enterprise, organized and existing under the laws of the PRC, with its address at 03 FL, No. 8 Building,
No. 6 [3-3] Langjiayuan, Chaoyang District, Beijing; 

  

	 	(2)	Fanshun Kong (“Borrower”), a citizen of China with Chinese Identification No.:                  . 

Each of the Lender and the Borrower shall be hereinafter referred to as a “Party” respectively, and as the “Parties”
collectively. 
 Whereas: 
  

	 	1.	As of the date hereof, Borrower holds 30% of equity interests in Heng Cheng Technology Development (Beijing) Co., Ltd. (“Borrower Company”). All of the equity interest now held and hereafter acquired by
Borrower in Borrower Company shall be referred to as Borrower Equity Interest; 

  

	 	2.	Lender confirms that it agrees to provide Borrower with and Borrower confirms that he/she has received a loan which equals to RMB 9,000,000 to be used for the purposes set forth under this Agreement. 

After friendly consultation, the Parties agree as follows: 
  

	1	Loan 

  

	 	1.1	In accordance with the terms and conditions of this Agreement, Lender and Borrower hereby acknowledge that Borrower has obtained from Lender a loan in the amount of RMB 9,000,000 (the “Loan”). The term of the
Loan shall be 10 years from the effective date of this Agreement, which may be extended upon mutual written consent of the Parties. During the term of the Loan or the extended term of the Loan, Borrower shall immediately repay the full amount of the
Loan in the event any one or more of the following circumstances occur: 

  

	 	1.1.1	30 days elapse after Borrower receives a written notice from Lender requesting repayment of the Loan; 

  

	 	1.1.2	Borrower’s death, lack or limitation of civil capacity; 

  

	 	1.1.3	Borrower ceases (for any reason) to be an employee of Lender, Borrower Company or their affiliates; 

  
 1 

	 	1.1.4	Borrower engages in criminal act or is involved in criminal activities; 

  

	 	1.1.5	According to the applicable laws of China, foreign investors are permitted to invest in the principle business that is currently conducted by Borrower Company in China with a controlling stake and/or in the form of
wholly-foreign-owned enterprises, the relevant competent authorities of China begin to approve such investments, and Lender exercises the exclusive option under the Exclusive Option Agreement (the “Exclusive Option Agreement”) described in
this Agreement. 

  

	 	1.2	The Loan provided by Lender under this Agreement shall inure to Borrower’s benefit only and not to Borrower’s successors or assigns. 

 

	 	1.3	Borrower agrees to accept the aforementioned Loan provided by Lender, and hereby agrees and warrants using the Loan to subscribe the registered capital of Borrower Company. Without Lender’s prior written consent,
Borrower shall not use the Loan for any purpose other than as set forth herein. 

  

	 	1.4	Lender and Borrower hereby agree and acknowledge that Borrower’s method of repayment shall be at the sole discretion of Lender, and shall at Lender’s option take the form of Borrower’s transferring the
Borrower Equity Interest in whole to Lender or Lender’s designated persons (legal or natural persons) pursuant to the Lender’s exercise of its right to acquire the Borrower Equity Interest under the Exclusive Option Agreement, and any
proceeds from the transfer of the Borrower Equity Interest (to the extent permissible) shall be used by the Borrower to repay the Loan to Lender, in accordance with this Agreement and in the manner designated by Lender. 

 

	 	1.5	Lender and Borrower hereby agree and acknowledge that to the extent permitted by applicable laws, Lender shall have the right but not the obligation to purchase or designate other persons (legal or natural persons) to
purchase Borrower Equity Interest in part or in whole at any time, at the price stipulated in the Exclusive Option Agreement. 

  

	 	1.6	Borrower also undertakes to execute an irrevocable Power of Attorney (the “Power of Attorney”), which authorizes Lender or a legal or natural person designated by Lender to exercise all of Borrower’s
rights as a shareholder of Borrower Company. 

  

	 	1.7	When Borrower transfers Borrower Equity Interest to Lender or Lender’s designated person(s), in the event that the transfer price of such equity interest equals or is lower than the principal of the Loan under this
Agreement, the Loan under this Agreement shall be deemed an interest-free loan. In the event that the transfer price of such equity interest exceeds the principal of the Loan under this Agreement, the excess over the principal shall be deemed the
interest of the Loan under this Agreement payable by Borrower to Lender. 

  
 2 

	2	Representations and Warranties 

  

	 	2.1	Between the date of this Agreement and the date of termination of this Agreement, Lender hereby makes the following representations and warranties to Borrower: 

 

	 	2.1.1	Lender is a corporation duly organized and legally existing in accordance with the laws of China; 

  

	 	2.1.2	Lender has the legal capacity to execute and perform this Agreement. The execution and performance by Lender of this Agreement is consistent with Lender’s scope of business and the provisions of Lender’s
corporate bylaws and other organizational documents, and Lender has obtained all necessary and proper approvals and authorizations for the execution and performance of this Agreement; and 

 

	 	2.1.3	This Agreement constitutes Lender’s legal, valid and binding obligations enforceable in accordance with its terms. 

  

	 	2.2	Between the date of this Agreement and the date of termination of this Agreement, Borrower hereby makes the following representations and warranties: 

 

	 	2.2.1	Borrower has the legal capacity to execute and perform this Agreement. Borrower has obtained all necessary and proper approvals and authorizations for the execution and performance of this Agreement; 

 

	 	2.2.2	This Agreement constitutes Borrower’s legal, valid and binding obligations enforceable in accordance with its terms; and 

  

	 	2.2.3	There are no disputes, litigations, arbitrations, administrative proceedings or any other legal proceedings relating to Borrower, nor are there any potential disputes, litigations, arbitrations, administrative
proceedings or any other legal proceedings relating to Borrower. 

  

	3	Borrower’s Covenants 

  

	 	3.1	As and when he becomes, and for so long as he remains a shareholder of Borrower Company, Borrower covenants irrevocably that during the term of this Agreement, Borrower shall cause Borrower Company: 

 

	 	3.1.1	to strictly abide by the provisions of the Exclusive Option Agreement and the Exclusive Business Cooperation Agreement (“Exclusive Business Cooperation Agreement”) to which the Borrower Company is a party, and
to refrain from any action/omission that may affect the effectiveness and enforceability of the Exclusive Option Agreement and Exclusive Business Cooperation Agreement. 

  
 3 

	 	3.1.2	at the request of Lender (or a party designated by Lender), to execute contracts/agreements on business cooperation with Lender (or a party designated by Lender), and to strictly abide by such contracts/agreements;

  

	 	3.1.3	to provide Lender with all of the information on Borrower Company’s business operations and financial condition at Lender’s request; 

 

	 	3.1.4	to immediately notify Lender of the occurrence or possible occurrence of any litigation, arbitration or administrative proceedings relating to Borrower Company’s assets, business or income; 

 

	 	3.1.5	at the request of Lender, to appoint any persons designated by Lender as directors of Borrower Company; 

  

	 	3.2	Borrower covenants that during the term of this Agreement, he shall: 

  

	 	3.2.1	endeavor to keep Borrower Company to engage in its principle businesses; 

  

	 	3.2.2	abide by the provisions of this Agreement, the Power of Attorney, the Equity Interest Pledge Agreement (“Equity Interest Pledge Agreement”) and the Exclusive Option Agreement to which the Borrower is a party,
perform his obligations under this Agreement, the Power of Attorney, the Equity Interest Pledge Agreement and the Exclusive Option Agreement, and refrain from any action/omission that may affect the effectiveness and enforceability of this
Agreement, the Power of Attorney, the Equity Interest Pledge Agreement and the Exclusive Option Agreement; 

  

	 	3.2.3	not sell, transfer, mortgage or dispose of in any other manner the legal or beneficial interest in Borrower Equity Interest, or allow the encumbrance thereon of any security interest or the encumbrance, except in
accordance with the Equity Interest Pledge Agreement; 

  

	 	3.2.4	cause any shareholders’ meeting and/or the board of directors of Borrower Company not to approve the sale, transfer, mortgage or disposition in any other manner of any legal or beneficial interest in Borrower
Equity Interest, or allow the encumbrance thereon of any security interest, except to Lender or Lender’s designated person; 

  

	 	3.2.5	cause any shareholders’ meeting and/or the board of directors of the Borrower Company not to approve the merger or consolidation of Borrower Company with any person, or its acquisition of or investment in any
person, without the prior written consent of Lender; 

  
 4 

	 	3.2.6	immediately notify Lender of the occurrence or possible occurrence of any litigation, arbitration or administrative proceedings relating to Borrower Equity Interest; 

 

	 	3.2.7	to the extent necessary to maintain his ownership of the Borrower Equity Interest, execute all necessary or appropriate documents, take all necessary or appropriate actions and file all necessary or appropriate
complaints or raise necessary and appropriate defense against all claims; 

  

	 	3.2.8	without the prior written consent of Lender, refrain from any action /omission that may have a material impact on the assets, business and liabilities of Borrower Company; 

 

	 	3.2.9	appoint any designee of Lender as director of Borrower Company, at the request of Lender; 

  

	 	3.2.10	to the extent permitted by the laws of China, at the request of Lender at any time, promptly and unconditionally transfer all of Borrower Equity Interest to Lender or Lender’s designated representative(s) at any
time, and cause the other shareholders of Borrower Company to waive their right of first refusal with respect to the share transfer described in this Section; 

  

	 	3.2.11	to the extent permitted by the laws of China, at the request of Lender at any time, cause the other shareholders of Borrower Company to promptly and unconditionally transfer all of their equity interests to Lender or
Lender’s designated representative(s) at any time, and Borrower hereby waives his right of first refusal (if any) with respect to the share transfer described in this Section; 

 

	 	3.2.12	in the event that Lender purchases Borrower Equity Interest from Borrower in accordance with the provisions of the Exclusive Option Agreement, use such purchase price obtained thereby to repay the Loan to Lender; and

  

	 	3.2.13	without the prior written consent of Lender, not to cause Borrower Company to supplement, change, or amend its articles of association in any manner, increase or decreases its registered capital or change its share
capital structure in any manner. 

  

	4	Liability for Default 

  

	 	4.1	If Borrower conducts any material breach of any term of this Agreement, Lender shall have right to terminate this Agreement and require the Borrower to compensate all damages; this Section 4.1 shall not prejudice
any other rights of Lender herein. 

  
 5 

	 	4.2	Borrower shall not terminate this Agreement in any event unless otherwise required by applicable laws. 

  

	 	4.3	In the event that Borrower fails to perform the repayment obligations set forth in this Agreement, Borrower shall pay overdue interest of 0.01% per day for the outstanding payment, until the day Borrower repays the
full principal of the Loan, overdue interests and other payable amounts. 

  

	5	Notices 

  

	 	5.1	All notices and other communications required or permitted to be given pursuant to this Agreement shall be delivered personally or sent by registered mail, postage prepaid, by a commercial courier service or by
facsimile transmission to the address of such Party set forth below. A confirmation copy of each notice shall also be sent by email. The dates on which notices shall be deemed to have been effectively given shall be determined as follows:

  

	 	5.1.1	Notices given by personal delivery, by courier service or by registered mail, postage prepaid, shall be deemed effectively given on the date of delivery. 

 

	 	5.1.2	Notices given by facsimile transmission shall be deemed effectively given on the date of successful transmission (as evidenced by an automatically generated confirmation of transmission). 

 

	 	5.2	For the purpose of notices, the addresses of the Parties are as follows: 

  

			
	Lender:		Yi Ren Heng Ye Technology Development (Beijing) Co., Ltd.
	Address:		03 FL, No. 8 Building, No. 6 [3-3] Langjiayuan, Chaoyang District, Beijing
	Attn:		Ning Tang
	Phone:		
	Facsimile:		
		
	Borrower:		Fanshun Kong
	Address:		
	Phone:		
	Facsimile:		

  

	 	5.3	Any Party may at any time change its address for notices by a notice delivered to the other Party in accordance with the terms hereof. 

 

	6	Confidentiality 

 The Parties acknowledge that the existence and the terms of this
Agreement and any oral or written information exchanged between the Parties in connection with the preparation and performance this Agreement are regarded as confidential information. Each Party shall maintain confidentiality of all such
confidential information, and without obtaining the written consent of the other Party, it shall not disclose any relevant confidential information to any third parties, except for the information that: (a) is or will be in the public domain
(other than through the receiving Party’s unauthorized disclosure); (b) is under the obligation to be disclosed pursuant to the applicable laws or regulations, rules of any stock exchange, or orders of the court or other government
authorities; or (c) is required to be disclosed by any Party to its shareholders, directors, employees, legal counsels or financial advisors regarding the transaction contemplated hereunder, provided that such shareholders, directors,
employees, legal counsels or financial advisors shall be bound by the confidentiality obligations similar to those set forth in this Section. Disclosure of any confidential information by the shareholders, director, employees of or agencies engaged
by any Party shall be deemed disclosure of such confidential information by such Party and such Party shall be held liable for breach of this Agreement. 

  
 6 

	7	Governing Law and Resolution of Disputes 

  

	 	7.1	The execution, effectiveness, construction, performance, amendment and termination of this Agreement and the resolution of disputes shall be governed by the laws of China. 

 

	 	7.2	In the event of any dispute with respect to the construction and performance of this Agreement, the Parties shall first resolve the dispute through friendly negotiations. In the event the Parties fail to reach an
agreement on the dispute within 30 days after either Party’s request to the other Party for resolution of the dispute through negotiations, either Party may submit the relevant dispute to the China International Economic and Trade Arbitration
Commission for arbitration, in accordance with its then effective arbitration rules. The arbitration shall be conducted in Beijing. The arbitration award shall be final and binding on all Parties. 

 

	 	7.3	Upon the occurrence of any disputes arising from the construction and performance of this Agreement or during the pending arbitration of any dispute, except for the matters under dispute, the Parties to this Agreement
shall continue to exercise their respective rights under this Agreement and perform their respective obligations under this Agreement. 

  

	8	Miscellaneous 

  

	 	8.1	This Agreement should become effective upon execution by the Parties, and shall expire upon the date of full performance by the Parties of their respective obligations under this Agreement. 

 

	 	8.2	This Agreement shall be written in both Chinese and English language in two copies, each Party having one copy. The Chinese version and English version shall have equal legal validity. 

 

	 	8.3	This Agreement may be amended or supplemented through written agreement by and between Lender and Borrower. Such written amendment agreement and/or supplementary agreement executed by and between Lender and Borrower are
an integral part of this Agreement, and shall have the same legal validity as this Agreement. 

  
 7 

	 	8.4	In the event that one or several of the provisions of this Agreement are found to be invalid, illegal or unenforceable in any aspect in accordance with any laws or regulations, the validity, legality or enforceability
of the remaining provisions of this Agreement shall not be affected or compromised in any respect. The Parties shall strive in good faith to replace such invalid, illegal or unenforceable provisions with effective provisions that accomplish to the
greatest extent permitted by law the intentions of the Parties, and the economic effect of such effective provisions shall be as close as possible to the economic effect of those invalid, illegal or unenforceable provisions. 

 

	 	8.5	The attachments (if any) to this Agreement shall be an integral part of this Agreement and shall have the same legal validity as this Agreement. 

 

	 	8.6	Any obligations that occur or that are due as a result of this Agreement upon the expiration or early termination of this Agreement shall survive the expiration or early termination thereof. The provisions of Sections
4, 6, 7 and this Section 8.6 shall survive the termination of this Agreement. 

  
 8 

 IN WITNESS WHEREOF, the Parties have caused their authorized representatives to execute this Loan
Agreement as of the date first above written. 
  

					
	Lender:		Yi Ren Heng Ye Technology Development (Beijing) Co., Ltd.
			
	By:		 /s/ Ning Tang
		(Company seal affixed)
	Name:		Ning Tang		
	Title:		Legal Representative		
		
	Borrower:		Fanshun Kong
			
	By:		 /s/ Fanshun Kong
		

 Loan Agreement 

This Loan Agreement (this “Agreement”) is made and entered into by and between the Parties below as of February 22, 2015 in
Beijing, China: 
  

	 	(1)	Yi Ren Heng Ye Technology Development (Beijing) Co., Ltd. (“Lender”), a wholly foreign owned enterprise, organized and existing under the laws of the PRC, with its address at 03 FL, No. 8 Building,
No. 6 [3-3] Langjiayuan, Chaoyang District, Beijing; 

  

	 	(2)	Yan Tian (“Borrower”), a citizen of China with Chinese Identification No.:                  . 

Each of the Lender and the Borrower shall be hereinafter referred to as a “Party” respectively, and as the “Parties”
collectively. 
 Whereas: 
  

	 	1.	As of the date hereof, Borrower holds 30% of equity interests in Heng Cheng Technology Development (Beijing) Co., Ltd. (“Borrower Company”). All of the equity interest now held and hereafter acquired by
Borrower in Borrower Company shall be referred to as Borrower Equity Interest; 

  

	 	2.	Lender confirms that it agrees to provide Borrower with and Borrower confirms that he/she has received a loan which equals to RMB 9,000,000 to be used for the purposes set forth under this Agreement. 

After friendly consultation, the Parties agree as follows: 
  

	1	Loan 

  

	 	1.1	In accordance with the terms and conditions of this Agreement, Lender and Borrower hereby acknowledge that Borrower has obtained from Lender a loan in the amount of RMB 9,000,000 (the “Loan”). The term of the
Loan shall be 10 years from the effective date of this Agreement, which may be extended upon mutual written consent of the Parties. During the term of the Loan or the extended term of the Loan, Borrower shall immediately repay the full amount of the
Loan in the event any one or more of the following circumstances occur: 

  

	 	1.1.1	30 days elapse after Borrower receives a written notice from Lender requesting repayment of the Loan; 

  

	 	1.1.2	Borrower’s death, lack or limitation of civil capacity; 

  

	 	1.1.3	Borrower ceases (for any reason) to be an employee of Lender, Borrower Company or their affiliates; 

  
 1 

	 	1.1.4	Borrower engages in criminal act or is involved in criminal activities; 

  

	 	1.1.5	According to the applicable laws of China, foreign investors are permitted to invest in the principle business that is currently conducted by Borrower Company in China with a controlling stake and/or in the form of
wholly-foreign-owned enterprises, the relevant competent authorities of China begin to approve such investments, and Lender exercises the exclusive option under the Exclusive Option Agreement (the “Exclusive Option Agreement”) described in
this Agreement. 

  

	 	1.2	The Loan provided by Lender under this Agreement shall inure to Borrower’s benefit only and not to Borrower’s successors or assigns. 

 

	 	1.3	Borrower agrees to accept the aforementioned Loan provided by Lender, and hereby agrees and warrants using the Loan to subscribe the registered capital of Borrower Company. Without Lender’s prior written consent,
Borrower shall not use the Loan for any purpose other than as set forth herein. 

  

	 	1.4	Lender and Borrower hereby agree and acknowledge that Borrower’s method of repayment shall be at the sole discretion of Lender, and shall at Lender’s option take the form of Borrower’s transferring the
Borrower Equity Interest in whole to Lender or Lender’s designated persons (legal or natural persons) pursuant to the Lender’s exercise of its right to acquire the Borrower Equity Interest under the Exclusive Option Agreement, and any
proceeds from the transfer of the Borrower Equity Interest (to the extent permissible) shall be used by the Borrower to repay the Loan to Lender, in accordance with this Agreement and in the manner designated by Lender. 

 

	 	1.5	Lender and Borrower hereby agree and acknowledge that to the extent permitted by applicable laws, Lender shall have the right but not the obligation to purchase or designate other persons (legal or natural persons) to
purchase Borrower Equity Interest in part or in whole at any time, at the price stipulated in the Exclusive Option Agreement. 

  

	 	1.6	Borrower also undertakes to execute an irrevocable Power of Attorney (the “Power of Attorney”), which authorizes Lender or a legal or natural person designated by Lender to exercise all of Borrower’s
rights as a shareholder of Borrower Company. 

  

	 	1.7	When Borrower transfers Borrower Equity Interest to Lender or Lender’s designated person(s), in the event that the transfer price of such equity interest equals or is lower than the principal of the Loan under this
Agreement, the Loan under this Agreement shall be deemed an interest-free loan. In the event that the transfer price of such equity interest exceeds the principal of the Loan under this Agreement, the excess over the principal shall be deemed the
interest of the Loan under this Agreement payable by Borrower to Lender. 

  
 2 

	2	Representations and Warranties 

  

	 	2.1	Between the date of this Agreement and the date of termination of this Agreement, Lender hereby makes the following representations and warranties to Borrower: 

 

	 	2.1.1	Lender is a corporation duly organized and legally existing in accordance with the laws of China; 

  

	 	2.1.2	Lender has the legal capacity to execute and perform this Agreement. The execution and performance by Lender of this Agreement is consistent with Lender’s scope of business and the provisions of Lender’s
corporate bylaws and other organizational documents, and Lender has obtained all necessary and proper approvals and authorizations for the execution and performance of this Agreement; and 

 

	 	2.1.3	This Agreement constitutes Lender’s legal, valid and binding obligations enforceable in accordance with its terms. 

  

	 	2.2	Between the date of this Agreement and the date of termination of this Agreement, Borrower hereby makes the following representations and warranties: 

 

	 	2.2.1	Borrower has the legal capacity to execute and perform this Agreement. Borrower has obtained all necessary and proper approvals and authorizations for the execution and performance of this Agreement; 

 

	 	2.2.2	This Agreement constitutes Borrower’s legal, valid and binding obligations enforceable in accordance with its terms; and 

  

	 	2.2.3	There are no disputes, litigations, arbitrations, administrative proceedings or any other legal proceedings relating to Borrower, nor are there any potential disputes, litigations, arbitrations, administrative
proceedings or any other legal proceedings relating to Borrower. 

  

	3	Borrower’s Covenants 

  

	 	3.1	As and when he becomes, and for so long as he remains a shareholder of Borrower Company, Borrower covenants irrevocably that during the term of this Agreement, Borrower shall cause Borrower Company: 

 

	 	3.1.1	to strictly abide by the provisions of the Exclusive Option Agreement and the Exclusive Business Cooperation Agreement (“Exclusive Business Cooperation Agreement”) to which the Borrower Company is a party, and
to refrain from any action/omission that may affect the effectiveness and enforceability of the Exclusive Option Agreement and Exclusive Business Cooperation Agreement. 

  
 3 

	 	3.1.2	at the request of Lender (or a party designated by Lender), to execute contracts/agreements on business cooperation with Lender (or a party designated by Lender), and to strictly abide by such contracts/agreements;

  

	 	3.1.3	to provide Lender with all of the information on Borrower Company’s business operations and financial condition at Lender’s request; 

 

	 	3.1.4	to immediately notify Lender of the occurrence or possible occurrence of any litigation, arbitration or administrative proceedings relating to Borrower Company’s assets, business or income; 

 

	 	3.1.5	at the request of Lender, to appoint any persons designated by Lender as directors of Borrower Company; 

  

	 	3.2	Borrower covenants that during the term of this Agreement, he shall: 

  

	 	3.2.1	endeavor to keep Borrower Company to engage in its principle businesses; 

  

	 	3.2.2	abide by the provisions of this Agreement, the Power of Attorney, the Equity Interest Pledge Agreement (“Equity Interest Pledge Agreement”) and the Exclusive Option Agreement to which the Borrower is a party,
perform his obligations under this Agreement, the Power of Attorney, the Equity Interest Pledge Agreement and the Exclusive Option Agreement, and refrain from any action/omission that may affect the effectiveness and enforceability of this
Agreement, the Power of Attorney, the Equity Interest Pledge Agreement and the Exclusive Option Agreement; 

  

	 	3.2.3	not sell, transfer, mortgage or dispose of in any other manner the legal or beneficial interest in Borrower Equity Interest, or allow the encumbrance thereon of any security interest or the encumbrance, except in
accordance with the Equity Interest Pledge Agreement; 

  

	 	3.2.4	cause any shareholders’ meeting and/or the board of directors of Borrower Company not to approve the sale, transfer, mortgage or disposition in any other manner of any legal or beneficial interest in Borrower
Equity Interest, or allow the encumbrance thereon of any security interest, except to Lender or Lender’s designated person; 

  

	 	3.2.5	cause any shareholders’ meeting and/or the board of directors of the Borrower Company not to approve the merger or consolidation of Borrower Company with any person, or its acquisition of or investment in any
person, without the prior written consent of Lender; 

  
 4 

	 	3.2.6	immediately notify Lender of the occurrence or possible occurrence of any litigation, arbitration or administrative proceedings relating to Borrower Equity Interest; 

 

	 	3.2.7	to the extent necessary to maintain his ownership of the Borrower Equity Interest, execute all necessary or appropriate documents, take all necessary or appropriate actions and file all necessary or appropriate
complaints or raise necessary and appropriate defense against all claims; 

  

	 	3.2.8	without the prior written consent of Lender, refrain from any action /omission that may have a material impact on the assets, business and liabilities of Borrower Company; 

 

	 	3.2.9	appoint any designee of Lender as director of Borrower Company, at the request of Lender; 

  

	 	3.2.10	to the extent permitted by the laws of China, at the request of Lender at any time, promptly and unconditionally transfer all of Borrower Equity Interest to Lender or Lender’s designated representative(s) at any
time, and cause the other shareholders of Borrower Company to waive their right of first refusal with respect to the share transfer described in this Section; 

  

	 	3.2.11	to the extent permitted by the laws of China, at the request of Lender at any time, cause the other shareholders of Borrower Company to promptly and unconditionally transfer all of their equity interests to Lender or
Lender’s designated representative(s) at any time, and Borrower hereby waives his right of first refusal (if any) with respect to the share transfer described in this Section; 

 

	 	3.2.12	in the event that Lender purchases Borrower Equity Interest from Borrower in accordance with the provisions of the Exclusive Option Agreement, use such purchase price obtained thereby to repay the Loan to Lender; and

  

	 	3.2.13	without the prior written consent of Lender, not to cause Borrower Company to supplement, change, or amend its articles of association in any manner, increase or decreases its registered capital or change its share
capital structure in any manner. 

  

	4	Liability for Default 

  

	 	4.1	If Borrower conducts any material breach of any term of this Agreement, Lender shall have right to terminate this Agreement and require the Borrower to compensate all damages; this Section 4.1 shall not prejudice
any other rights of Lender herein. 

  
 5 

	 	4.2	Borrower shall not terminate this Agreement in any event unless otherwise required by applicable laws. 

  

	 	4.3	In the event that Borrower fails to perform the repayment obligations set forth in this Agreement, Borrower shall pay overdue interest of 0.01% per day for the outstanding payment, until the day Borrower repays the
full principal of the Loan, overdue interests and other payable amounts. 

  

	5	Notices 

  

	 	5.1	All notices and other communications required or permitted to be given pursuant to this Agreement shall be delivered personally or sent by registered mail, postage prepaid, by a commercial courier service or by
facsimile transmission to the address of such Party set forth below. A confirmation copy of each notice shall also be sent by email. The dates on which notices shall be deemed to have been effectively given shall be determined as follows:

  

	 	5.1.1	Notices given by personal delivery, by courier service or by registered mail, postage prepaid, shall be deemed effectively given on the date of delivery. 

 

	 	5.1.2	Notices given by facsimile transmission shall be deemed effectively given on the date of successful transmission (as evidenced by an automatically generated confirmation of transmission). 

 

	 	5.2	For the purpose of notices, the addresses of the Parties are as follows: 

  

			
	Lender:		Yi Ren Heng Ye Technology Development (Beijing) Co., Ltd.
	Address:		03 FL, No. 8 Building, No. 6 [3-3] Langjiayuan, Chaoyang District, Beijing
	Attn:		Ning Tang
	Phone:		
	Facsimile:		
		
	Borrower:		Yan Tian
	Address:		
	Phone:		
	Facsimile:		

  

	 	5.3	Any Party may at any time change its address for notices by a notice delivered to the other Party in accordance with the terms hereof. 

 

	6	Confidentiality 

 The Parties acknowledge that the existence and the terms of this
Agreement and any oral or written information exchanged between the Parties in connection with the preparation and performance this Agreement are regarded as confidential information. Each Party shall maintain confidentiality of all such
confidential information, and without obtaining the written consent of the other Party, it shall not disclose any relevant confidential information to any third parties, except for the information that: (a) is or will be in the public domain
(other than through the receiving Party’s unauthorized disclosure); (b) is under the obligation to be disclosed pursuant to the applicable laws or regulations, rules of any stock exchange, or orders of the court or other government
authorities; or (c) is required to be disclosed by any Party to its shareholders, directors, employees, legal counsels or financial advisors regarding the transaction contemplated hereunder, provided that such shareholders, directors,
employees, legal counsels or financial advisors shall be bound by the confidentiality obligations similar to those set forth in this Section. Disclosure of any confidential information by the shareholders, director, employees of or agencies engaged
by any Party shall be deemed disclosure of such confidential information by such Party and such Party shall be held liable for breach of this Agreement. 

  
 6 

	7	Governing Law and Resolution of Disputes 

  

	 	7.1	The execution, effectiveness, construction, performance, amendment and termination of this Agreement and the resolution of disputes shall be governed by the laws of China. 

 

	 	7.2	In the event of any dispute with respect to the construction and performance of this Agreement, the Parties shall first resolve the dispute through friendly negotiations. In the event the Parties fail to reach an
agreement on the dispute within 30 days after either Party’s request to the other Party for resolution of the dispute through negotiations, either Party may submit the relevant dispute to the China International Economic and Trade Arbitration
Commission for arbitration, in accordance with its then effective arbitration rules. The arbitration shall be conducted in Beijing. The arbitration award shall be final and binding on all Parties. 

 

	 	7.3	Upon the occurrence of any disputes arising from the construction and performance of this Agreement or during the pending arbitration of any dispute, except for the matters under dispute, the Parties to this Agreement
shall continue to exercise their respective rights under this Agreement and perform their respective obligations under this Agreement. 

  

	8	Miscellaneous 

  

	 	8.1	This Agreement should become effective upon execution by the Parties, and shall expire upon the date of full performance by the Parties of their respective obligations under this Agreement. 

 

	 	8.2	This Agreement shall be written in both Chinese and English language in two copies, each Party having one copy. The Chinese version and English version shall have equal legal validity. 

 

	 	8.3	This Agreement may be amended or supplemented through written agreement by and between Lender and Borrower. Such written amendment agreement and/or supplementary agreement executed by and between Lender and Borrower are
an integral part of this Agreement, and shall have the same legal validity as this Agreement. 

  
 7 

	 	8.4	In the event that one or several of the provisions of this Agreement are found to be invalid, illegal or unenforceable in any aspect in accordance with any laws or regulations, the validity, legality or enforceability
of the remaining provisions of this Agreement shall not be affected or compromised in any respect. The Parties shall strive in good faith to replace such invalid, illegal or unenforceable provisions with effective provisions that accomplish to the
greatest extent permitted by law the intentions of the Parties, and the economic effect of such effective provisions shall be as close as possible to the economic effect of those invalid, illegal or unenforceable provisions. 

 

	 	8.5	The attachments (if any) to this Agreement shall be an integral part of this Agreement and shall have the same legal validity as this Agreement. 

 

	 	8.6	Any obligations that occur or that are due as a result of this Agreement upon the expiration or early termination of this Agreement shall survive the expiration or early termination thereof. The provisions of Sections
4, 6, 7 and this Section 8.6 shall survive the termination of this Agreement. 

  
 8 

 IN WITNESS WHEREOF, the Parties have caused their authorized representatives to execute this Loan
Agreement as of the date first above written. 
  

					
	Lender:		Yi Ren Heng Ye Technology Development (Beijing) Co., Ltd.
			
	By:		 /s/ Ning Tang
		(Company seal affixed)
	Name:		Ning Tang		
	Title:		Legal Representative		
			
	Borrower:		Yan Tian		
			
	By:		 /s/ Yan Tian

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