Document:

Exhibit 10.3

 

EMPLOYMENT AGREEMENT

 

This EMPLOYMENT AGREEMENT (the “Agreement”) is entered into as of _____________, 2020 by and between KE Holdings Inc., an exempted company incorporated and existing under the laws of the Cayman Islands (the “Company”) and _____________ , an individual with [passport/ID] number _____________ (the “Executive”).

 

RECITALS

 

WHEREAS, the Company desires to employ the Executive and to assure itself of the services of the Executive during the term of Employment (as defined below) and under the terms and conditions of the Agreement;

 

WHEREAS, the Executive desires to be employed by the Company during the term of Employment and under the terms and conditions of the Agreement;

 

AGREEMENT

 

NOW, THEREFORE, in consideration of the premises and the mutual covenants and agreements herein contained, the Company and the Executive agree as follows:

 

1.                                      EMPLOYMENT

 

The Company hereby agrees to employ the Executive and the Executive hereby accepts such employment, on the terms and conditions hereinafter set forth (the “Employment”).

 

2.                                      TERM

 

Subject to the terms and conditions of the Agreement, the initial term of the Employment shall be _____ years, commencing on _____________, 2020 (the “Effective Date”) and ending on _____________, _____ (the “Initial Term”), unless terminated earlier pursuant to the terms of the Agreement. Upon expiration of the Initial Term of the Employment, the Employment shall be automatically extended for successive periods of _____ months each (each, an “Extension Period”) unless either party shall have given 60 days advance written notice to the other party, in the manner set forth in Section 19 below, prior to the end of the Initial Term or the Extension Period in question, as applicable, that the term of this Agreement that is in effect at the time such written notice is given is not to be extended or further extended, as the case may be (the period during which this Agreement is effective being referred to hereafter as the “Term”).

 

3.                                      POSITION AND DUTIES

 

(a)                                 During the Term, the Executive shall serve as _____________ of the Company or in such other position or positions with a level of duties and responsibilities consistent with the foregoing with the Company and/or its subsidiaries and affiliates as the Board of Directors of the Company (the “Board”) may specify from time to time and shall have the duties, responsibilities and obligations customarily assigned to individuals serving in the position or positions in which the Executive serves hereunder and as assigned by the Board, or with the Board’s authorization, by the Company’s Chief Executive Officer.

 

1

 

(b)                                 The Executive agrees to serve without additional compensation, if elected or appointed thereto, as a director of the Company or any subsidiaries or affiliated entities of the Company (collectively, the “Group”) and as a member of any committees of the board of directors of any such entity, provided that the Executive is indemnified for serving in any and all such capacities on a basis no less favorable than is currently provided to any other director of any member of the Group.

 

(c)                                  The Executive agrees to devote all of his/her working time and efforts to the performance of his/her duties for the Company and to faithfully and diligently serve the Company in accordance with the Agreement and the guidelines, policies and procedures of the Company approved from time to time by the Board.

 

4.                                      NO BREACH OF CONTRACT

 

The Executive hereby represents to the Company that: (i) the execution and delivery of the Agreement by the Executive and the performance by the Executive of the Executive’s duties hereunder shall not constitute a breach of, or otherwise contravene, the terms of any other agreement or policy to which the Executive is a party or by which the Executive is otherwise bound, except that the Executive does not make any representation with respect to agreements required to be entered into by and between the Executive and any member of the Group pursuant to the applicable law of the jurisdiction in which the Executive is based, if any; (ii) that the Executive is not in possession of any information (including, without limitation, confidential information and trade secrets) the knowledge of which would prevent the Executive from freely entering into the Agreement and carrying out his/her duties hereunder; and (iii) that the Executive is not bound by any confidentiality, trade secret or similar agreement with any person or entity other than any member of the Group.

 

5.                                      LOCATION

 

The Executive will be based in _____________, _____ or any other location as requested by the Company during the Term.

 

6.                                      COMPENSATION AND BENEFITS

 

(a)                                 Cash Compensation. As compensation for the performance by the Executive of his/her obligations hereunder, during the Term, the Company shall pay the Executive cash compensation (inclusive of the statutory benefit contributions that the Company is required to set aside for the Executive under applicable law) pursuant to Schedule A hereto, subject to annual review and adjustment by the Board or any committee designated by the Board.

 

2

 

(b)                                 Equity Incentives. During the Term, the Executive shall be eligible to participate, at a level comparable to similarly situated executives of the Company, in such long-term compensation arrangements as may be authorized from time to time by the Board, including any share incentive plan the Company may adopt from time to time in its sole discretion.

 

(c)                                  Benefits. During the Term, the Executive shall be entitled to participate in all of the employee benefit plans and arrangements made available by the Company to its similarly situated executives, including, but not limited to, any retirement plan, medical insurance plan and travel/holiday policy, subject to and on a basis consistent with the terms, conditions and overall administration of such plans and arrangements.

 

7.                                      TERMINATION OF THE AGREEMENT

 

The Employment may be terminated as follows:

 

(a)                                 Death. The Employment shall terminate upon the Executive’s death.

 

(b)                                 Disability. The Employment shall terminate if the Executive has a disability, including any physical or mental impairment which, as reasonably determined by the Board, renders the Executive unable to perform the essential functions of his/her position at the Company, even with reasonable accommodation that does not impose an undue burden on the Company, for more than 180 days in any 12-month period, unless a longer period is required by applicable law, in which case that longer period shall apply.

 

(c)                                  Cause. The Company may terminate the Executive’s employment hereunder for Cause. The occurrence of any of the following, as reasonably determined by the Company, shall be a reason for Cause, provided that, if the Company determines that the circumstances constituting Cause are curable, then such circumstances shall not constitute Cause unless and until the Executive has been informed by the Company of the existence of Cause and given an opportunity of ten business days to cure, and such Cause remains uncured at the end of such ten-day period:

 

(1)                                 continued failure by the Executive to satisfactorily perform his/her duties;

 

(2)                                 willful misconduct or gross negligence by the Executive in the performance of his/her duties hereunder, including insubordination;

 

(3)                                 the Executive’s conviction or entry of a guilty or nolo contendere plea of any felony or any misdemeanor involving moral turpitude;

 

(4)                                 the Executive’s commission of any act involving dishonesty that results in material financial, reputational or other harm, monetary or otherwise, to any member of the Group, including but not limited to an act constituting misappropriation or embezzlement of the property of any member of the Group as determined in good faith by the Board; or

 

3

 

(5)                                 any material breach by the Executive of this Agreement.

 

(d)                                 Good Reason. The Executive may terminate his/her employment hereunder for “Good Reason” upon the occurrence, without the written consent of the Company, of an event constituting a material breach of this Agreement by the Company that has not been fully cured within ten business days after written notice thereof has been given by the Executive to the Company setting forth in sufficient detail the conduct or activities the Executive believes constitute grounds for Good Reason, including but not limited to:

 

(1)                                 the failure by the Company to pay to the Executive any portion of the Executive’s current compensation or to pay to the Executive any portion of an installment of deferred compensation under any deferred compensation program of the Company, within 20 business days of the date such compensation is due; or

 

(2)                                 any material breach by the Company of this Agreement.

 

(e)                                  Without Cause by the Company; Without Good Reason by the Executive. The Company may terminate the Executive’s employment hereunder at any time without Cause upon 60-day prior written notice to the Executive. The Executive may terminate the Executive’s employment voluntarily for any reason or no reason at any time by giving 60-day prior written notice to the Company.

 

(f)                                   Notice of Termination. Any termination of the Executive’s employment under the Agreement shall be communicated by written notice of termination (“Notice of Termination”) from the terminating party to the other party. The notice of termination shall indicate the specific provision(s) of the Agreement relied upon in effecting the termination.

 

(g)                                  Date of Termination. The “Date of Termination” shall mean (i) the date set forth in the Notice of Termination, or (ii) if the Executive’s employment is terminated by the Executive’s death, the date of his/her death.

 

(h)                                 Compensation upon Termination.

 

(1)                                 Death. If the Executive’s employment is terminated by reason of the Executive’s death, the Company shall have no further obligations to the Executive under this Agreement and the Executive’s benefits shall be determined under the Company’s retirement, insurance and other benefit and compensation plans or programs then in effect in accordance with the terms of such plans and programs.

 

4

 

(2)                                 By Company without Cause or by the Executive for Good Reason. If the Executive’s employment is terminated by the Company other than for Cause or by the Executive for Good Reason, the Company shall (i) continue to pay and otherwise provide to the Executive, during any notice period, all compensation, base salary and previously earned but unpaid incentive compensation, if any, and shall continue to allow the Executive to participate in any benefit plans in accordance with the terms of such plans during such notice period; and (ii) pay to the Executive, in lieu of benefits under any severance plan or policy of the Company, any such amount as may be agreed between the Company and the Executive.

 

(3)                                 By Company for Cause or by the Executive other than for Good Reason. If the Executive’s employment shall be terminated by the Company for Cause or by the Executive other than for Good Reason, the Company shall pay the Executive his/her base salary at the rate in effect at the time Notice of Termination is given through the Date of Termination, and the Company shall have no additional obligations to the Executive under this Agreement.

 

(i)                                     Return of Company Property. The Executive agrees that following the termination of the Executive’s employment for any reason, or at any time prior to the Executive’s termination upon the request of the Company, he/she shall return all property of the Group that is then in or thereafter comes into his/her possession, including, but not limited to, any Confidential Information (as defined below) or Intellectual Property (as defined below), or any other documents, contracts, agreements, plans, photographs, projections, books, notes, records, electronically stored data and all copies, excerpts or summaries of the foregoing, as well as any automobile or other materials or equipment supplied by the Group to the Executive, if any.

 

(j)                                    Requirement for a Release. Notwithstanding the foregoing, the Company’s obligations to pay or provide any benefits shall (1) cease as of the date the Executive breaches any of the provisions of Sections 8, 9 and 11 hereof, and (2) be conditioned on the Executive signing the Company’s customary release of claims in favor of the Group and the expiration of any revocation period provided for in such release.

 

8.                                      CONFIDENTIALITY AND NONDISCLOSURE

 

(a)                                 Confidentiality and Non-Disclosure.

 

(1)                                 The Executive acknowledges and agrees that: (A) the Executive holds a position of trust and confidence with the Company and that his/her employment by the Company will require that the Executive have access to and knowledge of valuable and sensitive information, material, and devices relating to the Company and/or its business, activities, products, services, customers, business partners and vendors, including, but not limited to, the following, regardless of the form in which the same is accessed, maintained or stored: the identity of the Company’s actual and prospective customers and, as applicable, their representatives; prior, current or future research or development activities of the Company; the products and services provided or offered by the Company to customers or potential customers and the manner in which such services are performed or to be performed; the product and/or service needs of actual or prospective customers; pricing and cost information; information concerning the development, engineering, design, specifications, acquisition or disposition of products and/or services of the Company; user base personal data, programs, software and source codes, licensing information, personnel information, vendor information, marketing plans and techniques, forecasts, and other trade secrets (“Confidential Information”); and (B) the direct and indirect disclosure of any such Confidential Information would place the Company at a competitive disadvantage and would do damage, monetary or otherwise, to the Company’s business.

 

5

 

(2)                                 During the Term and at all times thereafter, the Executive shall not, directly or indirectly, whether individually, as a director, stockholder, owner, partner, employee, consultant, principal or agent of any business, or in any other capacity, publish or make known, disclose, furnish, reproduce, make available, or utilize any of the Confidential Information without the prior express written approval of the Company, other than in the proper performance of the duties contemplated herein, unless and until such Confidential Information is or shall become general public knowledge through no fault of the Executive.

 

(3)                                 In the event that the Executive is required by law to disclose any Confidential Information, the Executive agrees to give the Company prompt advance written notice thereof and to provide the Company with reasonable assistance in obtaining an order to protect the Confidential Information from public disclosure.

 

(4)                                 The failure to mark any Confidential Information as confidential shall not affect its status as Confidential Information under this Agreement.

 

(b)                                Third Party Information in the Executive’s Possession. The Executive agrees that he/she shall not, during the Term, (i) improperly use or disclose any proprietary information or trade secrets of any former employer or other person or entity with which the Executive has an agreement or duty to keep in confidence information acquired by Executive, if any, or (ii) bring into the premises of Company any document or confidential or proprietary information belonging to such former employer, person or entity unless consented to in writing by such former employer, person or entity. The Executive will indemnify the Company and hold it harmless from and against all claims, liabilities, damages and expenses, including reasonable attorneys’ fees and costs of litigation, arising out of or in connection with any violation of the foregoing.

 

6

 

(c)                                  Third Party Information in the Company’s Possession. The Executive recognizes that the Company may have received, and in the future may receive, from third parties their confidential or proprietary information subject to a duty on the Company’s part to maintain the confidentiality of such information and to use it only for certain limited purposes. The Executive agrees that the Executive owes the Company and such third parties, during the Term and thereafter, a duty to hold all such confidential or proprietary information in strict confidence and not to disclose such information to any person or firm, or otherwise use such information, in a manner inconsistent with the limited purposes permitted by the Company’s agreement with such third party.

 

This Section 8 shall survive the termination of the Agreement for any reason. In the event the Executive breaches this Section 8, the Company shall have right to seek remedies permissible under applicable law.

 

9.                                      INTELLECTUAL PROPERTY

 

(a)                                 Prior Inventions. The Executive has attached hereto, as Schedule B, a list describing all inventions, ideas, improvements, designs and discoveries, whether or not patentable and whether or not reduced to practice, original works of authorship and trade secrets made or conceived by or belonging to the Executive (whether made solely by the Executive or jointly with others) that (i) were developed by Executive prior to the Executive’s employment by the Company (collectively, “Prior Inventions”), (ii) relate to the Company’ actual or proposed business, products or research and development, and (iii) are not assigned to the Company hereunder; or, if no such list is attached, the Executive represents that there are no such Prior Inventions. Except to the extent set forth in Schedule B, the Executive hereby acknowledges that, if in the course of his/her service for the Company, the Executive incorporates into a Company product, process or machine a Prior Invention owned by the Executive or in which he/she has an interest, the Company is hereby granted and shall have a nonexclusive, royalty-free, irrevocable, perpetual, worldwide right and license (which may be freely transferred by the Company to any other person or entity) to make, have made, modify, use, sell, sublicense and otherwise distribute such Prior Invention as part of or in connection with such product, process or machine.

 

7

 

(b)                                 Assignment of Intellectual Property. The Executive hereby assigns to the Company or its designees, without further consideration and free and clear of any lien or encumbrance, the Executive’s entire right, title and interest (within the United States and all foreign jurisdictions) to any and all inventions, discoveries, improvements, developments, works of authorship, concepts, ideas, plans, specifications, software, formulas, databases, designees, processes and contributions to Confidential Information created, conceived, developed or reduced to practice by the Executive (alone or with others) during the Term which (i) are related to the Company’s current or anticipated business, activities, products, or services, (ii) result from any work performed by Executive for the Company, or (iii) are created, conceived, developed or reduced to practice with the use of Company property, including any and all Intellectual Property Rights (as defined below) therein (“Work Product”). Any Work Product which falls within the definition of “work made for hire”, as such term is defined in the U.S. Copyright Act, shall be considered a “work made for hire”, the copyright in which vests initially and exclusively in the Company. The Executive waives any rights to be attributed as the author of any Work Product and any “droit morale” (moral rights) in Work Product. The Executive agrees to immediately disclose to the Company all Work Product. For purposes of this Agreement, “Intellectual Property” shall mean any patent, copyright, trademark or service mark, trade secret, or any other proprietary rights protection legally available.

 

(c)                                  Patent and Copyright Registration. The Executive agrees to execute and deliver any instruments or documents and to do all other things reasonably requested by the Company in order to more fully vest the Company with all ownership rights in the Work Product. If any Work Product is deemed by the Company to be patentable or otherwise registrable, the Executive shall assist the Company (at the Company’s expense) in obtaining letters of patent or other applicable registration therein and shall execute all documents and do all things, including testifying (at the Company’s expense) as necessary or appropriate to apply for, prosecute, obtain, or enforce any Intellectual Property right relating to any Work Product. Should the Company be unable to secure the Executive’s signature on any document deemed necessary to accomplish the foregoing, whether due to the Executive’s disability or other reason, the Executive hereby irrevocably designates and appoints the Company and each of its duly authorized officers and agents as the Executive’s agent and attorney-in-fact to act for and on the Executive’s behalf and stead to take any of the actions required of Executive under the previous sentence, with the same effect as if executed and delivered by the Executive, such appointment being coupled with an interest.

 

This Section 9 shall survive the termination of the Agreement for any reason. In the event the Executive breaches this Section 9, the Company shall have right to seek remedies permissible under applicable law.

 

10.                               CONFLICTING EMPLOYMENT

 

The Executive hereby agrees that, during the Term, he/she will not engage in any other employment, occupation, consulting or other business activity related to the business in which the Company is now involved or becomes involved during the Term, nor will the Executive engage in any other activities that conflict with his/her obligations to the Company without the prior written consent of the Company.

 

8

 

11.                               NON-COMPETITION AND NON-SOLICITATION

 

(a)                                 Non-Competition. In consideration of the compensation provided to the Executive by the Company hereunder, the adequacy of which is hereby acknowledged by the parties hereto, the Executive agree that during the Term and for a period of one year following the termination of the Employment for whatever reason, the Executive shall not engage in Competition (as defined below) with the Group. For purposes of this Agreement, “Competition” by the Executive shall mean the Executive’s engaging in, or otherwise directly or indirectly being employed by or acting as a consultant or lender to, or being a director, officer, employee, principal, agent, stockholder, member, owner or partner of, or permitting the Executive’s name to be used in connection with the activities of, any other business or organization which competes, directly or indirectly, with the Group in the Business; provided, however, it shall not be a violation of this Section 11(a) for the Executive to become the registered or beneficial owner of up to five percent (5%) of any class of the capital stock of a publicly traded corporation in Competition with the Group, provided that the Executive does not otherwise participate in the business of such corporation.

 

For purposes of this Agreement, “Business” means the operation in the housing transactions and services industry, and any other business which the Group engages in, or is preparing to become engaged in, during the Term.

 

(b)                                 Non-Solicitation; Non-Interference. During the Term and for a period of one year following the termination of the Executive’s employment for any reason, the Executive agrees that he/she will not, directly or indirectly, for the Executive’s benefit or for the benefit of any other person or entity, do any of the following:

 

(1)                                 solicit from any customer or business partner doing business with the Group during the Term business of the same or of a similar nature to the Business;

 

(2)                                 solicit from any known potential customer or business partner of the Group business of the same or of a similar nature to that which has been the subject of a known written or oral bid, offer or proposal by the Group, or of substantial preparation with a view to making such a bid, proposal or offer;

 

(3)                                 solicit the employment or services of, or hire or engage, any person who is known to be employed or engaged by the Group; or

 

(4)                                 otherwise interfere with the business or accounts of the Group, including, but not limited to, with respect to any relationship or agreement between the Group and any customer or business partner.

 

9

 

(c)                                  Injunctive Relief; Indemnity of Company. The Executive agrees that any breach or threatened breach of subsections (a) and (b) of this Section 11 would result in irreparable injury and damage to the Company for which an award of money to the Company would not be an adequate remedy. The Executive therefore also agrees that in the event of said breach or any reasonable threat of breach, the Company shall be entitled to seek an immediate injunction and restraining order to prevent such breach and/or threatened breach and/or continued breach by the Executive and/or any and all persons and/or entities acting for and/or with the Executive. The terms of this paragraph shall not prevent the Company from pursuing any other available remedies for any breach or threatened breach hereof, including, but not limited to, remedies available under this Agreement and the recovery of damages. The Executive and the Company further agree that the provisions of this Section 11 are reasonable. The Executive agrees to indemnify and hold harmless the Company from and against all reasonable expenses (including reasonable fees and disbursements of counsel) which may be incurred by the Company in connection with, or arising out of, any violation of this Agreement by the Executive. This Section 11 shall survive the termination of the Agreement for any reason.

 

12.          WITHHOLDING TAXES

 

Notwithstanding anything else herein to the contrary, the Company may withhold (or cause there to be withheld, as the case may be) from any amounts otherwise due or payable under or pursuant to the Agreement such national, state, provincial, local or any other income, employment, or other taxes as may be required to be withheld pursuant to any applicable law or regulation.

 

13.          ASSIGNMENT

 

The Agreement is personal in its nature and neither of the parties hereto shall, without the consent of the other, assign or transfer the Agreement or any rights or obligations hereunder; provided, however, that the Company may assign or transfer the Agreement or any rights or obligations hereunder to any member of the Group without such consent. If the Executive should die while any amounts would still be payable to the Executive hereunder if the Executive had continued to live, all such amounts unless otherwise provided herein shall be paid in accordance with the terms of this Agreement to the Executive’s devisee, legatee, or other designee or, if there be no such designee, to the Executive’s estate. The Company will require any and all successors (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or assets of the Company to expressly assume and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform it if no such succession had taken place. Failure of the Company to obtain such assumption and agreement prior to the effectiveness of any such succession shall be a breach of this Agreement and shall entitle the Executive to compensation from the Company in the same amount and on the same terms as the Executive would be entitled to hereunder if the Company had terminated the Executive’s employment other than for Cause, except that for purposes of implementing the foregoing, the date on which any such succession becomes effective shall be deemed the Date of Termination. As used in this Section 13, “Company” shall mean the Company as herein before defined and any successor to its business and/or assets as aforesaid which executes and delivers the agreement provided for in this Section 13 or which otherwise becomes bound by all the terms and provisions of this Agreement by operation of law.

 

10

 

14.          SEVERABILITY

 

If any provision of the Agreement or the application thereof is held invalid, the invalidity shall not affect other provisions or applications of the Agreement which can be given effect without the invalid provisions or applications and to this end the provisions of the Agreement are declared to be severable.

 

15.          ENTIRE AGREEMENT

 

The Agreement constitutes the entire agreement and understanding between the Executive and the Company regarding the terms of the Employment and supersedes all prior or contemporaneous oral or written agreements concerning such subject matter. The Executive acknowledges that he/she has not entered into the Agreement in reliance upon any representation, warranty or undertaking which is not set forth in the Agreement.

 

16.          GOVERNING LAW

 

This Agreement shall be governed in all respects by the laws of the Cayman Islands without regard to conflicts of law principles thereof.

 

17.          AMENDMENT

 

The Agreement may not be amended, modified or changed (in whole or in part), except by a formal, definitive written agreement expressly referring to the Agreement, which agreement is executed by both of the parties hereto.

 

18.          WAIVER

 

Neither the failure nor any delay on the part of a party to exercise any right, remedy, power or privilege under the Agreement shall operate as a waiver thereof, nor shall any single or partial exercise of any right, remedy, power or privilege preclude any other or further exercise of the same or of any right, remedy, power or privilege, nor shall any waiver of any right, remedy, power or privilege with respect to any occurrence be construed as a waiver of such right, remedy, power or privilege with respect to any other occurrence. No waiver shall be effective unless it is in writing and is signed by the party asserted to have granted such waiver.

 

19.          NOTICES

 

All notices, requests, demands and other communications required or permitted under the Agreement shall be in writing and shall be deemed to have been duly given and made if (i) delivered by hand, (ii) otherwise delivered against receipt therefor, (iii) sent by a recognized courier with next-day or second-day delivery to the last known address of the other party; or (iv) sent by e-mail with confirmation of receipt.

 

11

 

20.          COUNTERPARTS

 

The Agreement may be executed in any number of counterparts, each of which shall be deemed an original as against any party whose signature appears thereon, and all of which together shall constitute one and the same instrument. The Agreement shall become binding when one or more counterparts hereof, individually or taken together, shall bear the signatures of all of the parties reflected hereon as the signatories. Photographic copies of such signed counterparts may be used in lieu of the originals for any purpose.

 

21.          NO INTERPRETATION AGAINST DRAFTER

 

Each party recognizes that the Agreement is a legally binding contract and acknowledges that such party has had the opportunity to consult with legal counsel of choice. In any construction of the terms of the Agreement, the same shall not be construed against either party on the basis of that party being the drafter of such terms.

 

[The remainder of the page is intentionally left blank.]

 

12

 

IN WITNESS WHEREOF, the Agreement has been executed as of the date first written above.

 

 

	
COMPANY:
    	
KE Holdings Inc. 
    
	
 
    	
a Cayman Islands   exempted company 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    
	
 
    	
Title:
    
	
 
    	
 
    
	
EXECUTIVE:
    	
 
    
	
 
    	
 
    
	
 
    	
Name:
    
	
 
    	
Address:
    

 

[Signature Page to Officer Employment Agreement]

 

 

Schedule A

 

Cash Compensation

 

	
 
    	
 
    	
Amount
    	
 
    	
Pay Period
    
	
Base Salary
    	
 
    	
 
    	
 
    	
 
    
	
Cash Bonus
    	
 
    	
 
    	
 
    	
 
    

 

 

Schedule B

 

List of Prior Inventions

 

	
Title
    	
 
    	
Date
    	
 
    	
Identifying Number
   or Brief Description
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    

 

______ No inventions or improvements

 

______ Additional Sheets Attached

 

	
Signature of   Executive: 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Print Name of   Executive: 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Date:Exhibit 10.15

 

THE SYMBOL “[***]” DENOTES PLACES WHERE CERTAIN IDENTIFIED INFORMATION HAS BEEN EXCLUDED FROM THE EXHIBIT BECAUSE IT IS BOTH (i) NOT MATERIAL, AND (ii) WOULD LIKELY CAUSE COMPETITIVE HARM TO THE COMPANY IF PUBLICLY DISCLOSED

 

STRATEGIC COOPERATION FRAMEWORK AGREEMENT

 

This Strategic Cooperation Framework Agreement (this “Agreement”) is made by the following parties in Nanshan District, Shenzhen, PRC on December 28, 2018:

 

(1)              Shenzhen Tencent Computer Systems Co., Ltd. (深圳市腾讯计算机系统有限公司), a company incorporated in accordance with the laws of the PRC, whose registered address is at 5th — 10th Floor, Feiyada Building, No.1 South Road, High Tech Zone, Nanshan District, Shenzhen (“Tencent Computer”);

 

(2)              KE Holdings Inc., a company incorporated in accordance with the laws of Cayman Islands, whose registered address is at Harneys Fiduciary (Cayman) Limited, 4th Floor, Harbour Place, 103 South Church Street, P.O. Box 10240, Grand Cayman, KY1-1002, Cayman Islands (“LJ Cayman”);

 

(3)              Jinbei (Tianjin) Technology Co., Ltd. (金贝(天津)技术有限公司), a company incorporated in accordance with the laws of the PRC, whose registered address is at No.28, Room 212, 2nd Floor, Office Building C, Nangang Industrial Multiple Service Zone, Economy and Technology Development, Tianjin (“LJ WFOE”);

 

(4)              Tianjin Xiaowu Information & Technology Co., Ltd. (天津小屋信息科技有限公司), a company incorporated in accordance with the laws of the PRC, whose registered address is at No.59, Room 112, 1st Floor, Office Building C, Nangang Industrial Multiple Service Zone, Economy and Technology Development, Tianjin (“Tianjin Xiaowu”); and

 

(5)              Beijing Lianjian Real Estate Brokerage Co., Ltd. (北京链家房地产经纪有限公司), a company incorporated in accordance with the laws of the PRC, whose registered address is at Room 610, No. 16 Building, No. 5, Yard, Jiangtai Road, Chaoyang District, Beijing (“Beijing LJ Broker”, together with LJ WFOE and Tianjin Xiaowu, collectively, “LJ China”, LJ China and LJ Cayman, collectively referred to as the “LJ Entities”, each a “LJ Entity”).

 

Tencent Computer and LJ Entities are each referred to as a “Party”, and collectively referred to as the “Parties”.

 

WHEREAS:

 

(1)              Tencent (as defined below) is one of the largest internet services providers in the PRC, and is one of the internet enterprises that serve the largest number of users in the PRC.

 

(2)              LJ Group (as defined below) is the operator of a leading platform in the real estate and lifestyle service industry in the PRC, which conducts new property, second hand property, property rental, real estate brokerage, decoration and Franchising (as defined below) business (“LJ’s Principal Business”) and operates www.lianjia.com, www.ke.com and other operation platforms and APPs that are related to LJ’s Principal Business.

 

(3)              On November 8, 2018, Tencent Mobility Limited, Parallel Galaxy Investment Limited and LJ Cayman and certain other parties thereto entered into a Share Purchase Agreement (as defined below), pursuant to which, Tencent Mobility Limited and Parallel Galaxy Investment Limited agree to subscribe for an aggregate number of 42,105,263 Series D Preferred Shares of LJ Cayman.

 

1

 

(4)              The Parties intend to increase the competitive advantages of LJ Group both in online and offline areas and to expand the user base of LJ Group by the strategic cooperation contemplated in this Agreement.

 

NOW THEREFORE, in consideration of the premises and other good and valuable consideration, the Parties agree as follows in respect of the strategic cooperation:

 

1                     DEFINITION AND INTERPRETATION

 

1.1           Definition

 

Unless otherwise provides or defined in the Agreement, the following terms shall have the following respective meanings:

 

	
“Confidential Information”
    	
means: (i) any non-public material that is   related to incorporation, business, technology, investment, finance, trade,   transaction or matters of any Party , whether it is in writing, oral, or   other forms, (ii) the existence and content of this Agreement, the terms   of any other agreements made in accordance with this Agreement; and   (iii) any material that is marked to be confidential by a Party, or any   materials that contain any Confidential Information.
    
	
 
    	
 
    
	
“Force Majeure”
    	
means any event that cannot be reasonably controlled   by any Party (including strikes, suspension or other conduct in the industry,   act of God, war or war threats, accident, intentional riots, breakdown or interruption   of settlement system, suspension or interruption of bank or any other event   that is deemed as a Force Majeure event according to international business   customs).
    
	
 
    	
 
    
	
“Restructuring Memorandum”
    	
means the Beike Group Restructuring Plan set forth   in Exhibit I attached to the Share Purchase Agreement or other   relevant written agreements concluded by Tencent and LJ Group (if any).
    
	
 
    	
 
    
	
“Restructuring Agreement”
    	
means the Framework Agreement on Onshore and   Offshore Restructuring Transactions of Beike Group made by Beijing LJ Broker,   Beijing Boheng Taihe Advertising Co., Ltd., Tianjin Xiaowu, LJ Cayman   and certain other parties thereto on December 5, 2018.
    
	
 
    	
 
    
	
“Restructuring”
    	
means the relevant provisions in the Restructuring   Memorandum and the Restructuring Agreement.
    
	
 
    	
 
    
	
“Business Day”
    	
means a day that is not a Saturday, Sunday or any   statutory public holiday in the PRC.
    

 

2

 

	
“Affiliate”
    	
in respect of a certain entity, means any other   entity that, directly, or indirectly, through one or more intermediaries,   Controls, is Controlled by, or is under common Control with such entity; in   the case of a natural person, means the close relative of such person,   including, such person’s parents, spouse, adult children and their respective   spouse, siblings and their respective spouse.
    
	
 
    	
 
    
	
“Share Purchase Agreement”
    	
means the Series D Preferred Shares Purchase   Agreement made by Tencent Mobility Limited, Parallel Galaxy Investment   Limited, LJ Cayman and certain other parties thereto in respect of   subscription of Series D preferred shares of LJ Cayman on   November 8, 2018.
    
	
 
    	
 
    
	
“Series D Purchase Price”
    	
means the Series D Purchase Price as defined in   the Share Purchase Agreement.
    
	
 
    	
 
    
	
“Transaction Documents”
    	
means the Transaction Documents as defined in the   Share Purchase Agreement. This Agreement is a part of Transaction Documents.
    
	
 
    	
 
    
	
“Control”
    	
in case of relationship between two or more   entities, means the power or authority, whether exercised or not, to direct   the business, matters, management and policies of such entity, directly or   indirectly, whether through ownership of shares, voting rights, voting   securities, by contract, contractual arrangements, trust or otherwise,   including, (i) having more than fifty (50%) of issued and outstanding   shares or equity interests in such entity, directly or indirectly;   (ii) having more than fifty percent (50%) of the votes rights of such   entity, directly or indirectly; or (iii) power to control the composition   of a majority of the board of directors or similar authority of such entity,   directly or indirectly. The terms “Controlled” and “under common Control”   have meanings correlative to the foregoing.
    
	
 
    	
 
    
	
“Effective Date”
    	
means the effective date of this Agreement. This   Agreement shall become effective upon the Closing under the Share Purchase   Agreement simultaneously. The Effective Date hereof shall be the Closing Date   under the Share Purchase Agreement.
    
	
 
    	
 
    
	
“Applicable Laws”
    	
means, in the case of any person, all applicable   laws, regulations, rules, instructions, treaties, judgements, orders,   notices, decrees and judicial interpretations of the any governmental agency,   regulatory authority and securities exchange commissions.
    

 

3

 

	
“Restricted Persons”
    	
means the Restricted Persons as defined in the   Transaction Documents.
    
	
 
    	
 
    
	
“Franchising”
    	
means the enterprise having operation recourses,   such as trademark, logo, patent, and know-how (the “Franchisor”)   contractually licenses such operation resources to other business operators   (the “Franchisee”), whereby the Franchisee   operate its business under the same business model in accordance with the   franchise agreement and in return, the Franchisee pays certain fees to   Franchisor. For the purpose of this Agreement, the Franchising business   operated by LJ Group set forth in this Agreement refers to the second-hand   real estate brokerage business under the brand of De You (德佑)   conducted by Shanghai Lianjia Real Estate Brokerage Co., Ltd.
    
	
 
    	
 
    
	
“Tencent”
    	
means TENCENT HOLDINGS LIMITED and its Affiliates   Controlled by it (may refer to as one or several companies, subject to the   provisions of this Agreement).
    
	
 
    	
 
    
	
“LJ Group”
    	
means LJ Cayman and its Controlled Affiliates,   Beijing LJ Broker and its subsidiaries, Beijing Boheng Taihe Advertising   Co., Ltd. and its subsidiaries, Tianjin Xiaowu Information &   Technology Co., Ltd. and its subsidiaries (it can be referred to as one   or several companies, subject to the provisions of this Agreement). For the   avoidance of doubt, this definition shall include any entity that becomes the   Affiliate Controlled by LJ Cayman, the subsidiary of Beijing LJ Broker,   Beijing Boheng Taihe Advertising Co., Ltd., or Tianjin Xiaowu Information &   Technology Co., Ltd. after execution of this Agreement.
    
	
 
    	
 
    
	
“LJ Platform”
    	
means Lianjia’s website (www.lianjia.com), Beike’s   website (www.ke.com) and the mobile applications, Weixin Official Accounts,   Weixin Mini Programs and other related platforms in connection with LJ’s   Principal Business operated by LJ Group, including any self-owned platform   and website created by LJ China in accordance with this Agreement (if there   is any change to any domain name or mobile application in connection with LJ Platform   after this Agreement becomes effective, this definition shall include such   new websites and mobile applications. For the avoidance of any doubt, such   change shall include but not limited to change of name, supplementing or   amending any websites or mobile applications that is similar or identical in   nature or function to that of the original websites or mobile applications).
    
	
 
    	
 
    
	
“Weixin”
    	
means the cross-platform communication tool provided   by Tencent in the PRC, supporting real time communication between two or   multiple individuals via text, voice messages, pictures and videos, including   functions and services such as Weixin Official Account, and Weixin open   platform, etc. (excluding WeChat, the international version).
    

 

4

 

	
“Weixin Pay Entry Point”
    	
means the service entry points on Weixin Pay’s   existing interface; for example, the entry point of ‘Movies, Shows and   Matches’ on the Weixin Pay interface of the current version of Weixin APP   (iOS 6.7.3) is one of the Weixin Pay Entry Points. For the purpose of this   Agreement, the category name (such as “Movies, Shows and Matches”) is subject   to adjustment. Tencent reserves the right to adjust relevant details in   accordance with its business needs at any time, such as the category name,   logo and the specific location and interface of the Weixin Pay Entry Points.
    
	
 
    	
 
    
	
“Weixin   Pay”
    	
means the payment solution available on Weixin, with   multiple means of payment such as scanning of QR code, in-APP payment, Weixin   Official Account payment and other methods developed by Weixin after   execution of this Agreement.
    
	
 
    	
 
    
	
“Function   Placement”
    	
means the navigation bar on top of Household Channel   on QQ.com, which is set forth in the Part A of Exhibit B   attached to this Agreement as of the date hereof.
    
	
 
    	
 
    
	
“Advertising   Placement”
    	
means the modules for placing advertisements on the   page of the Household Channel on QQ.com.
    
	
 
    	
 
    
	
“Content   Placement”
    	
means the spaces and modules other than function   modules and advertising modules on the page of the Household Channel on   QQ.com.
    
	
 
    	
 
    
	
“Content Page”
    	
means every level of page via the Content   Placement.
    
	
 
    	
 
    
	
“QQ.com”
    	
means the web portal (http://www.qq.com) operated by   Tencent.
    
	
 
    	
 
    
	
“QQ.com Channel”
    	
means on QQ.com, the page that can be accessed   by the categorized items shown on the navigation bar of the home page of   QQ.com. For example, the page that can be accessed by “News” on the   navigation bar of the home page of QQ.com is one of the QQ.com Channels.   The name of each channel, such as “News”, is subject to the category of such   item. Tencent reserves the right to adjust relevant details in accordance   with its business needs at any time, such as the category name, logo,   navigation bar and the specific location and interface of each QQ.com   Channel.
    

 

5

 

	
“Tencent News APP”
    	
means the news application operated by Tencent, such   as the current ‘Tencent News’ APP (iOS and Android versions).
    
	
 
    	
 
    
	
“Tencent News APP Channel”
    	
means the pages that can be accessed by the   categorized items shown on the multiple levels of the navigation bar on the   interface of Tencent News APP. For example, the page of “Videos” under   the “Channels” in the current version of Tencent News APP (iOS 5.6.81) is one   of the Tencent News APP Channels. For the purpose of this Agreement, all   websites on Tencent News APP Channels shall be placed on servers provided on   Tencent, under the domain name of qq.com. The name of each item, such as   “Channels” and “Videos, is subject to the category of such item. Tencent   reserves the right to adjust relevant details in accordance with its business   needs at any time, such as the category name, logo, navigation bar and the   specific location and interface of Tencent News APP Channels.
    
	
 
    	
 
    
	
“Term”
    	
means the term of this Agreement, namely,   (i) the termination date of the Business Cooperation, or (ii) the   earlier date pursuant to the provisions in respect of early termination in   this Agreement.
    
	
 
    	
 
    
	
“PRC”
    	
the People of Republic of China, which, for purposes   of this agreement only, does not include the Hong Kong Special Administrative   Region, the Macau Special Administrative Region or Taiwan.
    

 

1.2           Interpretation

 

In this Agreement, except as otherwise expressly provided:

 

(1)             The headings of articles hereof are inserted for convenience only and neither limit nor amplify the provisions of this Agreement;

 

(2)             “including” means “including without limitation”; and

 

(3)             The “month” or “year” referred to herein is from a certain day in that month or that year to the same day in the following month or year.

 

2                     COOPERATION

 

2.1           The Parties agree that Tencent will provide LJ China with the access for the Weixin Pay Entry Point, relevant QQ.com Channels or their respective entry points, Tencent News APP Channels, and Tencent will provide advertising and Tencent Cloud services to LJ China (the “Business Cooperation”) pursuant to the Tencent Cooperation Plan and Principles set out in Exhibit A. The Business Cooperation shall be deemed as the in-kind contribution in respect of the Series D Purchase Price payable by Tencent. The details on the cooperation term and commencement date of the aforementioned matters are set out in Exhibit A hereto. The Parties agree to negotiate in good faith to resolve relevant issues if there is any change to the original cooperation resources during the Term of the Business Cooperation.

 

6

 

2.2           In terms of the Business Cooperation, if LJ China intends to register or use any software, product, function, interface (including but not limited to Weixin, QQ.com and Tencent News APP) and any form of the Intellectual Property developed, owned or operated by Tencent, LJ China shall conform with all Tencent’s agreements and rules in connection with such software, product, function and interface, including without limitation, the service agreement, sole function agreement and operation principles.

 

2.3           Each of the LJ Entities agrees and covenants to use Weixin Pay as the default payment method for any payment made by their users on the relevant online product platforms operated by LJ Group. Each of the LJ Entities further covenants that (i) it will cause Weixin Pay to appear with priority to other payment methods (i.e. sticky) in respect of payment functions on the relevant online product platforms operated by LJ Group with marks as “Recommended” or other similar words or marks; and (ii) it will display other payment methods in the form agreed by the Parties. For the purpose of protection of the option right of users, each of the users may, at his/her own discretion, select his/her preferred payment method. LJ Group shall not fold or hide Weixin Pay on the check-out page of its online products platforms by any means for any reason. LJ Group shall cause Weixin Pay to appear with priority to other payment methods in all relevant advertising materials in connection with payment used by its offline stores. LJ Group shall conform with the framework standards of Weixin to complete the construction and display of payment methods when conducting its business on the Weixin platforms (including without limitation, Weixin Pay Entry Point, Weixin Official Accounts, and Weixin Mini Programs), so as to maintain the level of users’ experience and secure the stability of connection systems.

 

2.4           Subject to the provisions in Section 2.3, during the Term of the Business Cooperation, LJ Group may use the payment method exclusively owned and used by LJ Group (the “LJ’s Own Payment Method”) as the default payment method on the relevant online product platforms operated by LJ Group. LJ Group shall cause the LJ’s Own Payment Method to appear with priority to other payment methods in respect of payment page on the relevant online product platforms operated by LJ Group with marks as “Recommended” or other similar words, and cause Weixin Pay to be the second priority in the payment methods and be marked as “Recommended” or other similar words. Other payment methods shall be displayed in the form agreed by the Parties. LJ Group may cause LJ’s Own Payment Method to appear with priority to other payment methods and recommend users to use it in all relevant advertising materials in connection with payment used by its offline stores. Notwithstanding the forgoing, LJ Group shall cause Weixin Pay to appear with priority to other payment methods (other than LJ’s Own Payment Method) and recommend users to use Weixin Pay in such materials. The forgoing is referred to as the Self-Owned Payment Arrangement. Given prior to execution of this Agreement, Caifutong Payment Technology Co., Ltd. (财付通支付科技有限公司) and Beijing Lifangtong Payment Technology Co., Ltd. (北京理房通支付科技有限公司) entered into an Cooperation Agreement and a Supplementary Agreement to the Cooperation Agreement on October 30, 2018, whereby the parties thereto reach an agreement in respect of payment arrangement, such as default payment method, priority of payment methods and adding “Recommended” marks (the “Original Agreement”). The Parties agree to perform their respective obligations in respect of the payment arrangement under the Original Agreement during the term of the Original Agreement. Upon the expiration of the Original Agreement, the Parties shall perform their respective obligations in respect of the Self-Owned Payment Arrangement under this Section 2.4 or other arrangement otherwise agreed by the Parties. Notwithstanding the forgoing in Section 2.4, the Parties acknowledge that if there is any conflict between the written agreement otherwise made by Tencent Computer (or its Affiliates) and LJ Entities (or its Affiliates) and the provisions in this Section 2.4, the former written agreement made by Tencent Computer (or its Affiliates) and LJ Entities (or its Affiliates) shall prevail.

 

7

 

2.5           Within three (3) years after the Effective Date, if LJ Group intends to use any cloud services, it shall use Tencent Cloud with priority, provided that the overall cooperation terms and conditions provided by Tencent Cloud to LJ Group is not less favourable than those provided by other third parties. Tencent Cloud services include without limitation public cloud, internet infrastructure, public internet broadband, personalized servers, security components, software structure and related operation and maintenance services.

 

2.6           Without the prior written consent of Tencent, LJ China shall not:

 

(1)             license or sub-license any technology for entry point, security agreement, certificate, technology plan or technical information in connection with the business cooperation contemplated hereunder to any third party or use such information for any purpose other than for the purpose of the business cooperation contemplated hereunder, whether directly or indirectly;

 

(2)             disclose either the technology plan or technical information owned by Tencent to any third party;

 

(3)             provide any product or service (including but not limited to trademarks, websites, texts, images, audios, videos and tables) provided by Tencent (including but not limited to Tencent Computer) in connection with the Business Cooperation to any third party or license any third party, in any means, to use such products or services; or

 

(4)             use any materials on users obtained from the business cooperation contemplated hereunder for any purpose other than for the purpose of the business cooperation contemplated hereunder (including but not limited to sending to users any information or notices that are irrelevant to the products and services purchased by the users) or disclose such materials to any third party.

 

For the avoidance of doubt, LJ China may disclose such information to any entity of the LJ Group, provided, however, that such disclosure is limited to the extent necessary and any of the receiving parties are under the confidentiality obligations similar to those of LJ China.

 

2.7           The Parties hereby acknowledge that, upon execution of this Agreement (including all exhibits hereto), the obligations of in-kind contributions under the Share Purchase Agreement shall be deemed to be fully performed by Tencent. Tencent shall have full rights and ownership of the purchased shares under the Share Purchase Agreement and its ownership of such shares shall not be affected by any amendment, performance, expiration or termination of this Agreement. If this Agreement is terminated earlier and the Parties have any issue on indemnification, the Parties shall resolve such issue in accordance with the relevant provisions in the Share Purchase Agreement and this Agreement.

 

2.8           Unless otherwise agreed by the Parties, the Parties or their respective Affiliates shall refer to the Tencent Cooperation Plan and Principles and sign a detailed cooperation agreement or other written documentation for the Business Cooperation (the “Specified Business Cooperation Agreement”).

 

2.9           Each of the LJ Entities covenants that it has obtained the relevant qualifications for the provision of the products and services in respect of the Business Cooperation to users or other third parties and will not infringe any interest of Tencent, users or any third parties. LJ Entities will be responsible for all obligations and liabilities arising from such claims and indemnify and hold harmless Tencent, users of Tencent and other parties from and against any and all losses suffered by such party.

 

8

 

2.10    The Parties acknowledge that LJ Group is in the process of Restructuring and the PRC entities in the LJ Group (other than LJ China) (the “LJ New Operation Entities”, each, a “LJ New Operation Entity”) will participate in the Business Cooperation with Tencent, provided that it is approved by Tencent in writing. Each of the LJ Entities shall cause each of LJ New Operation Entities to become a party of this Agreement and the Specified Business Cooperation Agreement and perform the obligations performed by the relevant LJ Entities under such agreements, where Tencent shall provide necessary cooperation (if necessary, including cooperation with the execution of a joinder agreement by the LJ New Operation Entity approved by Tencent).

 

3                     REPRESENTATIONS, WARRANTIES AND COVENANTS

 

3.1           Each Party represents and warrants to the other Parties that as of the execution date of this Agreement:

 

(1)             Such Party is legally incorporated and existing in accordance with the Applicable Laws of the place of its incorporation, and has the full power and authorizations to sign, deliver and perform this Agreement and to implement the cooperation contemplated hereunder;

 

(2)             The execution and delivery of this Agreement by such Party and the implementation of the cooperation contemplated hereunder have been properly authorized by the governance authorization of this Party. The execution, delivery and performance of this Agreement by such Party does not violate or contravene the provisions of its organizational documents nor does it violate or contravene any Applicable Laws on its assets, businesses or properties; and

 

(3)             This Agreement shall constitute legal, effective and binding obligations on such Party provided that such Party properly authorizes, signs and delivers this Agreement.

 

3.2           The Parties shall cooperate with each other to ensure the Business Cooperation contemplated hereunder are carried out in legitimate manners.

 

4                     CONFIDENTIALITY

 

4.1           General Obligations

 

Each Party hereby undertakes to other Parties that it will not disclose any Confidential Information to any third party without the consent of said Parties.

 

4.2           Exceptions

 

The provisions of Section 4.1 do not apply under any of the following circumstances:

 

(1)             A Party may disclose the Confidential Information to its directors, current or future partners, shareholders, senior officers, employees, consultants, auditors, or professional consultants (collectively referred to as “Representatives”) for the purpose of performance of this Agreement, provided that such Representatives is bounded by the same confidentiality obligations applicable to the disclosing Party;

 

9

 

(2)             A Party may disclose the Confidential Information that has become known to public or entered into the public domain, provided that the publication of such disclosure is not resulted from violation of this Agreement by any of the disclosing Party or its Representative;

 

(3)             A Party may disclose the Confidential Information to its Affiliates; and

 

(4)             A Party may disclose the Confidential Information according to the Applicable Laws or rules of any stock exchange where the securities of the Party or its parent company are listed for trading, the requirements of any judicial or regulatory procedures, or requirements of the litigation or other proceedings in connection with this Agreement, provided that the disclosing Party notifies other Parties in advance and limit the scope of the disclosure to the extent as required by the relevant rules, laws and procedures, and such disclosing Party is subject to any practicable confidentiality arrangement.

 

4.3           Notwithstanding the provisions of Section 4.2 above, the Parties shall cooperate with each other to adjust or re-sign this Agreement and other Business Cooperation agreements to ensure that fulfillment of obligations under the Section 4.1, to the maximum extent of the satisfaction of necessary disclosure requirements, subject to the relevant regulations and rules and provided that the rights and obligations of the Parties are not changed.

 

5                     NOTICE

 

5.1           Form of Notice

 

All notices under this Agreement (“Notice”) shall be made:

(1)                in writing;

(2)                in Chinese; and

(3)             Delivered to the address or email address of the recipient as specified in Section 5.3, by hand or via a well-known domestic express delivery service, or delivered to other address or email address as notified by the recipient no later than five (5) Business Days before sending the notice.

 

5.2           Service

 

The Notice shall be deemed to be formally served under the following circumstances unless an earlier delivery is proved by evidence:

 

(1)             When hand delivered to the other Party, upon the delivery to the address as set out in Section 5.3;

 

(2)             When delivered by a well-known domestic express delivery service provider, three (3) Business Days after delivery; and

 

(3)             If sent via email, upon confirmation of delivery from the receiving Party by email or any other methods.

 

5.3           Contact

 

To Tencent:

 

Address: Tencent Binhai Building, No. 33 Haitian Second Road, Nanshan District, Shenzhen, Guangdong, China

Zip Code: 518064

Attn: ****************

Email: ****************

 

10

 

Copy to:

Address: Tencent Binhai Building, No. 33 Haitian Second Road, Nanshan District, Shenzhen, Guangdong, China

Zip Code: 518064

Attn: ****************

Email: ****************

 

To LJ Entities:

 

Address: Building 16, No.5 Courtyard, Jutai Road, Chaoyang District, Beijing

Attn: ****************

Email: ****************

 

6                     EFFECTIVENESS, AMENDMENTS AND TERMINATION

 

6.1           This Agreement shall be duly executed by the Parties (in the case of onshore entities, with the seal of such entity; in the case of offshore entities, with the signature of authorized signatory) and become effective on the Effective Date.

 

6.2           This Agreement shall be terminated upon:

 

(1)              mutual agreement by the Parties; or

(2)              the expiration date where the Parties fail to reach an agreement on extension.

 

6.3           Upon the occurrence of any of the following events, Tencent Computer shall be entitled terminate the relevant Business Cooperation by written notice to LJ Entities:

 

(1)             if, during the Term of cooperation, any of the LJ Entities breaches applicable laws, regulations, policies or requirements of any governmental authority or regulatory authority in any material respects, or breaches any relevant platform principle, service agreement, sole function agreement or operation standards of Tencent, or materially breaches any obligation hereunder, or materially infringes any interest of any third party, or causes material damages to Tencent due to its misconduct, or causes adversely material impact on the publicity, brand or reputation of Tencent, and fails to rectify or eliminate such effect within the period reasonably specified by Tencent;

(2)             any of the LJ Entities materially breaches any provisions of this Agreement or the Specified Business Cooperation Agreement and fails to rectify such breach within the period specified by Tencent;

(3)             any suspension of the matters on the Business Cooperation more than ninety (90) days or any other period of time otherwise agreed by the Parties pursuant to Section 6.4 hereof.

 

6.4           Upon the occurrence of any of the following events, Tencent Computer may notify the relevant LJ Entities in writing to suspend all or part of the matters on the Business Cooperation (at the sole discretion of Tencent, the period of suspension shall be excluded from the calculation of the applicable period of the Business Cooperation). The Parties shall not restart the suspended cooperation under this Agreement until LJ has resolved the relevant issues or performed its obligations pursuant to applicable Transaction Agreements to the reasonable satisfactory of Tencent (the applicable period of the Business Cooperation shall be extended accordingly. For the avoidance of doubt, if any BusinessCooperation matter is suspended more than ninety (90) days or any other period of time otherwise agreed by the Parties, Tencent shall be entitled to terminate the relevant Business Cooperation in accordance with Section 6.3):

 

11

 

(1)             any of the LJ Entities materially breaches any provision of the Share Purchase Agreement (including the Restructuring Memorandum) or Restructuring Agreement and such entity fails to rectify such breach within the period required by Tencent;

(2)             the LJ Entities fail to complete the Restructuring pursuant to the Share Purchase Agreement (including the Restructuring Memorandum) or Restructuring Agreement and fail to rectify within the period of time agreed by Tencent;

(3)             any of the LJ Entities breaches the provisions on the Restricted Persons under the Transaction Documents; or

(4)             the occurrence of any of the Liquidation Event, Trade Sale or Redemption Triggering Event under the Transaction Documents.

 

6.5           Upon the occurrence of any of the following events, the Parties shall negotiate in good faith to resolve the relevant issues:

 

(a)             any cooperated business under this Agreement is unable to continue due to any applicable laws, regulations, policies, requirements imposed by the applicable governmental authority or regulatory authority or any governmental conduct; or

(b)             if any of the Force Majeure lasts more than six (6) months and the Party affected by such Force Majeure is unable to perform its principal obligations hereunder.

 

6.6           If this Agreement is terminated or suspended pursuant to Section 6.3 or Section 6.4, unless otherwise agreed in the Specified Business Cooperation Agreement, the Specified Business Cooperation Agreement shall be deemed to be terminated or suspended simultaneously.

 

6.7           Unless otherwise agreed by the Parties, all rights and obligations of the Parties under this Agreement shall terminate upon the termination of this Agreement, provided that:

 

(1)             The termination of this Agreement shall not affect the obligations and liabilities existed prior to the termination of this Agreement; and

(2)             Section 4 (Confidentiality), Section 5 (Notice), Section 7 (Liability of Breach of Contract), and Section 8 (Governing Law and Dispute Resolution) shall survive any termination of this Agreement.

 

7                     LIABILITY OF BREACH OF CONTRACT

 

7.1                     If a Party fails to perform any of its obligations hereunder, such Party (the “Defaulting Party”) shall be deemed as breach of contract. The Defaulting Party shall rectify such breach within ten (10) Business Days upon receipt of notice stating the details on breach of contract from the other Party (the “Non-defaulting Party”) or other longer period of time otherwise agreed by the Non-defaulting Party. If the Defaulting Party fails to rectify such breach with such prescribed period of time, the Defaulting Party shall indemnify the Non-defaulting Party from any actual losses incurred by the Non-defaulting Party, without limiting the Non-defaulting Party’s rights to obtain other remedies hereunder.

7.2                     If Tencent breaches any provision by cancelling the Weixin Pay Entry Point, QQ.com Channels or its portals, or Tencent News APP Channel portal opened by LJ China, Tencent shall be liable for breach of contract to LJ Entities.

7.3                     The Parties hereto acknowledge and agree that such Party signs this Agreement on behalf of itself or its respective Affiliates and is obliged to cause and procure its respective Affiliates to conform with and perform this Agreement.

 

12

 

8                     GOVERNING LAW AND DISPUTE RESOLUTION

 

8.1                     Governing Law

 

The conclusion, validity, interpretation and implementation of this Agreement shall be governed by and interpreted in accordance with the Applicable Laws of PRC.

 

8.2                     Dispute Resolution

 

(1)             If there is any dispute, conflict or claim arising out of or related to this Agreement (including but not limited to: (i) any contractual, pre-contract or non-contractual rights, obligations or liabilities; and (ii) the conclusion, effectiveness and termination of this Agreement) (the “Disputes”), the Disputes shall be settled by the representative of each Party through friendly negotiation.

(2)             If the Dispute is resolved through negotiations within fifteen (15) days from the date of occurrence of the Dispute, no Party can claim against the other Parties for the losses it suffered due to the Dispute. If the Dispute fails to be resolved within fifteen (15) days from the date of occurrence of the Dispute in accordance with the above Section 8.2 (i), the Parties agree to submit the Dispute to the China International Economic and Trade Arbitration Commission in Beijing for exclusive and final resolution. The arbitration shall be conducted in accordance with the commission’s arbitration rules in effects when the dispute is submitted for arbitration, and the arbitration rules shall be deemed to be incorporated into this Agreement by reference. The arbitration award shall be final and binding upon the Parties. Unless otherwise ruled by the arbitration award, the arbitration fees shall be borne by the losing Party.

(3)             The Parties agree that, without prejudice to the right of the Parties to bring the Dispute to arbitration in accordance with the above section, prior to the Dispute is being resolved through negotiations between the Parties or is being arbitrated by the arbitration tribunal, the Parties shall continue to perform their respective obligations under this Agreement, unless otherwise adjudicated by the arbitration tribunal or it is determined that the continuous performance is impossible considering the situation of the Dispute.

 

9                     MISCELLANEOUS

 

9.1           Independent Contracting Party

 

During the performance of this Agreement, the contracting Parties hereto are independent from each other, and no contents of this Agreement shall be interpreted to have created any other relationship between the Parties, including agency, partnership and employment relationship. Neither Party has any right or power to impose any obligations on or act on behalf of the other Parties. Neither Party may claim itself as the manager, partner, employee, nor agent of the other Parties due to existence of this Agreement, the cooperation contemplated hereunder or for any other reasons.

 

9.2           Severability

 

If any provision of this Agreement is determined to be invalid or ineffective under any  Applicable Laws, such provision shall be deemed to be invalid or ineffective only to the extent necessary, and the Parties shall immediately negotiate in good faith to reach consensus to revise the invalid or ineffective provision in the manner permitted by laws so as to achieve the original commercial purpose of the invalid or ineffective provision. If any provision under this Agreement becomes invalid, illegal or unenforceable, the validity of the remaining provisions shall not be affected.

 

13

 

9.3           Assignment

 

Without the prior written consent of Tencent Computer, none of the LJ Entities can assign all or any part of its rights or obligations under this Agreement to any third Party. Any such assignment or attempted assignment in violation of this Article shall be invalid.

 

9.4           Fees

 

Unless as otherwise expressly stipulated in this Agreement or otherwise expressly agreed by the Parties in writing, each Party shall bear its own fees and expenses incurred in connection with negotiation, preparation, execution and implementation of this Agreement and all other documents referred in this Agreement.

 

9.5           Supplement and Amendment

 

Any supplement and amendment to this Agreement can only be made in writing and shall take effects after being signed or affixed with the official seal by the authorized representatives of the Parties.

 

9.6           Waiver

 

Except as otherwise provided in this Agreement, any failure or delay in the exercise of any right or remedy described in this Agreement or granted by Applicable Laws does not impair such right or remedy, or constitute a waiver of such right or remedy, or constitute waiver of any other rights or remedies. The sole or partial exercise of any right or remedy described in this Agreement or granted by Applicable Laws does not prevent the further exercise of such right or remedy or the exercise of any other rights or remedies.

 

9.7           Non-exclusive Relief

 

The rights and remedies granted to the Parties under this Agreement are cumulative and do not prevent other rights or remedies to which they are entitled under the Applicable Laws.

 

9.8           Counterparts

 

This Agreement is signed in multiple counterparts. Each executed and delivered copy is an original copy and shall have same legal effects.

 

[REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK]

 

14

 

IN WITNESS WHEREOF, the Parties to this Agreement have caused their respective duly authorized representatives to sign this Agreement on the date as first mentioned above.

 

	
 
    	
Shenzhen Tencent Computer   System Co., Ltd. (Seal)
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Shenzhen   Tencent Computer System Co., Ltd.
    
	
 
    	
Name:
    
	
 
    	
Title:
    

 

15

 

IN WITNESS WHEREOF, the Parties to this Agreement have caused their respective duly authorized representatives to sign this Agreement on the date as first mentioned above.

 

 

	
 
    	
KE Holdings Inc.
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ ZUO Hui
    
	
 
    	
Name: ZUO Hui
    
	
 
    	
Title: Director
    
	
 
    	
 
    
	
 
    	
Jinbei (Tianjin)   Technology Co., Ltd. (Seal)
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Jinbei   (Tianjin) Technology Co., Ltd.
    
	
 
    	
Name: (Seal)
    
	
 
    	
Title:
    
	
 
    	
 
    
	
 
    	
Tianjin Xiaowu   Information & Technology Co., Ltd. (Seal)
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Tianjin Xiaowu   Information & Technology Co., Ltd. (Seal)
    
	
 
    	
Name: (Seal)
    
	
 
    	
Title:
    
	
 
    	
 
    
	
 
    	
Beijing Lianjian Real   Estate Brokerage Co., Ltd. (Seal)
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Beijing   Lianjian Real Estate Brokerage Co., Ltd. (Seal)
    
	
 
    	
Name: (Seal)
    
	
 
    	
Title:
    

 

16

 

Exhibit A

Tencent Cooperation Plan and Principles

 

[***]

 

 

Exhibit B

Function Placement/Function Modules

 

[***]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00311-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00311-of-00352.parquet"}]]