Document:

Exhibit 4.27

Exhibit 4.27

[Note: Translation from the original agreement written in Chinese]

Execution Copy

Fourth Amended and Restated Loan Agreement

The Fourth Amended and Restated Loan Agreement is executed on June 11, 2010 by the following
parties.

eLong, Inc. (hereinafter “Party A”)

Legal Address: 4th Floor, Hutchence David Century Garden, George Town, Grand

Cayman, Cayman Islands

Guangfu Cui (hereinafter “Party B”)

Residence: No.1, XiangHongqi Street, Haidian District, Beijing

ID No.: 110108196902010857

Jack Wang (hereinafter “Party C”)

Residence: 19th Floor, Liufangbeili Street, Chaoyang District, Beijing

ID No.: 11010519730528111X

Whereas:

	1.	 	Party A is a company registered in Cayman Islands; Party B and Party C are the citizens of
the People’s Republic of China. Party B holds 87.5% equity interest in Beijing eLong
Information Technology Co., Ltd. (hereinafter “Beijing eLong”). eLongNet Information
Technology (Beijing) Co., Ltd. (hereinafter eLongNet Technology)is a wholly foreign owned
enterprise registered and validly existing under the laws of PRC, and is a wholly owned
company of Party A.

	2.	 	Party A, Party B, Party C and Yue Justin Tang, who formerly held a 75% equity interest in Beijing eLong,
signed an Third Amended and Restated Loan Agreement on April 21, 2008. Under the foresaid loan
agreement, Party A provided Party B, C and Yue Justin Tang with a loan totaling RMB16,000,000, of which
2,000, 000 was to Party B, 12,000,000 to Yue Justin Tang, and RMB 2,000,000 to Party C.

	3.	 	According to the Share and Debt Transfer Agreement signed between Party A, Party B, Party C
and Yue Justin Tang on June 11, 2010, Party B is the transferee of  the 75% equity of Beijing eLong formerly by
Yue Justin Tang and all rights and obligations relating to Beijing eLong incurred from Yue Justin
Tang. Party B holds a 87.5% equity interest in  Beijing eLong as the result of the transfer.

	4.	 	To reflect the transfer of the rights and obligations relating to Beijing eLong to Party B,
Party A, Party B and Party C hereby make this amendment and restatement to the Third Amended
and Restated Loan Agreement dated April 21, 2008.

NOW THEREFORE, Party A, Party B and Party C through friendly negotiations hereby agree to and abide
by this agreement (hereinafter referred to as “This agreement”) as follows:

	1.	 	Party A agrees to provide Party B and Party C with a loan totaling RMB16,000,000, of which
RMB14,000,000 is to Party B and RMB 2,000,000 is to Party C, in accordance with the terms and
conditions under the Agreement.

	2.	 	Party B and Party C agree that such loan shall be used only as registered capital of Beijing
eLong or to be invested in Beijing eLong in other form. The loan shall not be used for any
other purpose without the written consent of Party A.

	3.	 	The preconditions of the Loan provided by Party A to Party B and Party C:

	(1)	 	Party B, Party C and eLongNet Technology have formally executed an Equity Interest Pledge
Agreement, according to which Party B and Party C agree to pledge all their equity interest in
Beijing eLong to eLongNet Technology.

 

 

 

	(2)	 	Party A, Party B and Party C have executed an Exclusive Purchase Right Agreement, according
to which Party B and Party C grant Party A a right to purchase all or part of equity interest
in Beijing eLong to the extent permitted by PRC law.

	(3)	 	The above-mentioned Equity Interest Pledge Contract and Exclusive Purchase Contract are in
full effect, there is no event of default and all relevant filing
procedures, approval, authorization, registration and governmental proceedings have been
obtained or completed (if needed).

	(4)	 	The representations and warranties of Party B and Party C under Section 9 are true, complete,
correct and not-misleading.

	(5)	 	Party B and Party C have not breached any of their respective commitments under Section 10
and Section 11. There is no existing or foreseeable events that may affect Party B and Party
C’s performance of the obligations hereunder.

	4.	 	Party A, Party B and Party C hereby agree and confirm that, under preconditions permitted by
the Chinese law and within the scope allowed in Chinese law, Party A has the right but not
the obligation to buy or designate other persons (legal person or natural person) to purchase all
or partial equity interests of Party B and Party C (the “Purchase Right”) in Beijing eLong,
provided that Party A notifies Party B and Party C on purchase of equity interests in writing.
Once Party A has issued the written notice on executing the purchase right, Party B and Party
C will immediately transfer their equity interests in Beijing eLong to Party A or any other
person as designated by Party A at original investment price or other prices as agreed by
Party A. Party A, Party B, and Party C agrees to sign an exclusive purchase right agreement in
light of the said matters.

	5.	 	Party B and Party C agree that, when they transfer their Equity Interest in Beijing eLong to
Party A or the person designated by Party A according to the exclusive purchase contract, any
proceeds raised from the transfer shall be paid promptly to Party A as the refund of the loan
under the Agreement.

	6.	 	All parties agree and confirm that the loan under the Agreement shall be deemed as the loan
without interest. In the event that an appraisal of the equity interest is required by the
relevant laws when the transfer stipulated in section 4 has occurred, and the equity interest
transfer price is higher than the principle of loan according to the appraisal result, the
exceeding part shall be paid back to Party A as the cost occupied by the interest of the loan
or the capital burdened by Party A.

	7.	 	Term for the loan hereunder is ten (10) years and can be extended upon written agreement of
parties hereto. But during the term or extended term of such loan, Party B and/or Party C
shall refund the loan to Party A ahead of the loan term or the extended loan term, if any of
the following events occurs:

	(1)	 	Party B and/or Party C quits from or is dismissed by Party A or its affiliates;

	(2)	 	Party B and/or Party C become deceased or become a person without capacity or with limited
capacity for civil acts;

	(3)	 	Party B and/or Party C commit a crime or are involved a crime;

	(4)	 	Any other third party claims more than RMB100,000 against Party B and/or Party C;

	(5)	 	As permitted by PRC law, Party A or other designated by Party A may invest in the
telecommunications internet information service business or other business of Beijing eLong,
and according to the Exclusive Purchase Contract, Party A shall issue a written notification
to the Party for the purchase of Beijing eLong’s equity interest and perform the right of
purchase.

	(6)	 	When the loan is due, the corresponding borrower (or its successor or transferee) shall
transfer its equity interest in Beijing eLong to the person designated by Party A promptly (or
to Party A, provided that it is permitted under the laws of PRC). Any proceeds raised from the
transfer shall be paid to Party A as the refund of the loan and the right as well as the
obligation under the Agreement shall terminate simultaneously.

	8.	 	Party A represents and warrants to Party B and Party C that, on the execution date of the
Agreement,

	(1)	 	Party A is a company registered in Cayman Islands and validly existing under the laws of it.

 

 

 

	(2)	 	Subject to its business scope, constitution and other organizational documents, Party A has
the full right and power and has obtained all necessary and appropriate approval and
authorization to execute and perform this Agreement;

	(3)	 	The execution and the performance of this Agreement shall not be against any enforceable and
effective laws and regulations, governmental approval, authorization and notification, other
government documents and any contracts executed with, or commitments made to, any third party;
and

	(4)	 	This Agreement shall constitute the legal, valid and binding obligations of Party A, which is
enforceable against Party A in accordance with its terms upon its execution.

	9.	 	Party B and Party C represent and warrant to Party A that, from the execution date of this
Agreement until the date this Agreement terminates,

	(1)	 	Beijing eLong is a limited liability company registered and validly existing under the laws
of PRC. Party B and Party C are the shareholders of Beijing eLong;

	(2)	 	Subject to the constitution and other organizational documents of Beijing eLong, Party B and
Party C have full right and power and have obtained all necessary and appropriate approval and
authorization to execute and perform this Agreement;

	(3)	 	Party B and Party C shall not execute and perform this Agreement against any enforceable and
effective laws and regulations, governmental approval, authorization and notification, or
other government documents and any contracts executed with, or commitments made to, any third
party;

	(4)	 	This Agreement shall constitute the valid and legally enforceable obligations of Party B and
Party C.

	(5)	 	Party B and Party C have paid contribution in full for its equity in Beijing eLong in
accordance with applicable laws and regulations and has acquired capital contribution
verification report issued by the qualified accounting firm;

	(6)	 	Party B and Party C shall neither create pledge, mortgage or any other security, nor make third
party any offer to transfer their equity held on Beijing eLong, nor make acceptance for the
offer of any third party to purchase their equity, nor execute agreement with any third party
to transfer the equities of Party B and Party C, except pursuant to the terms of the Equity Pledge
Contract;

	(7)	 	There are no disputes, lawsuit, arbitration, administrative or other proceedings related to
the equities of Beijing eLong held by Party B and Party C, or any threatened disputes,
lawsuit, arbitration, administrative or other proceedings involving Party B and Party C and/or
the equities held by Party B and Party C; and

	(8)	 	Beijing eLong has completed all governmental approval, authorization, license, and
registration, filing and otherwise necessary to carry out the business subject to its business
license and to possess its assets.

	10.	 	Party B and Party C  each agree that it shall, during the term of this Agreement,

	(1)	 	Not sell, transfer, mortgage, dispose of in any other way, or create other security interest
on, any of its legal right of equity or equity interest in Beijing eLong without Party A’s
prior written consent, except the terms of the Agreement;

	(2)	 	Without Party A’s prior written consent, not to consent, support or execute any resolution in
the shareholders’ meeting of Beijing eLong for the sale, transfer, mortgage, any other
disposal of Beijing eLong’s legal right of equity or equity interest or to create any other
security interest of Beijing eLong’s legal right of equity or equity interest, except that the
counter party is Party A or those designated by Party A;

	(3)	 	Without Party A’s prior written consent, not to consent, support or execute any resolution in
the shareholders’ meeting of Beijing eLong for the merge or combination with, buy or
investment in, any person;

	(4)	 	Promptly inform Party A of the pending or threatened suit, arbitration or regulatory
procedure concerning the equity interest of Beijing eLong;

	(5)	 	Execute all necessary or appropriate documents, take all necessary or appropriate action and
bring all necessary or appropriate lawsuit or make all necessary and appropriate defending
against all claims, in order to maintain the ownership of Beiing eLong for all its assets;

	(6)	 	Do nothing that may materially affect the assets, business and liabilities of Beijing eLong
without Party A’s prior written consent;

	(7)	 	Appoint any person to be the director of Beijing eLong subject to Party A’s request;

	(8)	 	Transfer promptly and unconditionally, at once, all of the Equity Interest of Beijing eLong
to Party A or representative designated by Party A and cause the other shareholder of Beijing
eLong to waive its option to purchase such equity hereof, subject to the requesting of the then holding
company of Party A, provided that such transfer is permitted under the laws of PRC;

 

 

 

	(9)	 	Not require Beijing eLong to issue dividends or allocate its allocable profits to Party B and
Party C;

	(10)	 	Cause the other shareholder of Beijing eLong to transfer promptly and unconditionally, at
once, all equity interest of the other shareholder in Beijing eLong to Party A or the
representative designated by Party A, Party B and Party C hereby
waives its option to purchase
such equity interest hereof, subject to the request of the then holding company of Party A,
provided that such transfer is permitted under the laws of PRC;

	(11)	 	Once Party B and Party C transfer the equity interest in Beijing eLong to Party A or the
representative designated by Party A, any proceeds raised from the transfer shall be refund to
Party A promptly.

	(12)	 	Comply strictly with the terms of this Agreement, and Exclusive Purchase Contract, fully
perform all obligations under such contracts and do nothing affecting the validity and
enforceability of such contracts.

	11.	 	Party B and Party C, as major shareholders of Beijing eLong, agree that it shall cause
Beijing eLong, during the term of this Agreement,

	(1)	 	Not to supply, amend or modify its articles of constitution, to increase or decrease its
registered capital, or to change its capital structure in any way without Party A’s prior
written consent;

	(2)	 	Subject to good financial and business rules and practices, to maintain and operate its
business and handle matters prudently and effectively;

	(3)	 	Not to sell, transfer, mortgage, dispose of in any other way, or to create other security
interest on, any of its assets, business or legal right to collect interests without Party A’s
prior written consent;

	(4)	 	Without Party A’s prior written consent, not to create, succeed to, guarantee or permit any
debt, except (i) the debt arising in the course of the ordinary or daily business operation,
but not arising from the loan, and (ii) the debt being reported to Party A or having approved
Party A in writing;

	(5)	 	To continue to operate all the business of Beijing eLong and to maintain the value of its
assets;

	(6)	 	Without Party A’s prior written consent, not to execute
any material contracts (during this
stage, a contract will be deemed material if the value of it exceeds RMB100, 000) except those
executed during the ordinary course;

	(7)	 	To provide information concerning all of its operation and financial affairs subject to Party
A’s request;

	(8)	 	Not to merge or combine with, buy or invest in, any other person without Party A’s prior
written consent;

	(9)	 	Without Party A’s prior written consent, not to issue dividends to each shareholder in any
form, however, Beijing eLong shall promptly allocate all its allocable profits to each of its
shareholders upon Party A’s request;

	(10)	 	To inform promptly Party A of the pending or threatened suit, arbitration or regulatory
procedure concerning the assets, business or income of Beijing eLong;

	(11)	 	To execute all necessary or appropriate documents, to take all necessary or appropriate
action and to bring all necessary or appropriate lawsuit or to make all necessary and
appropriate defending against all claims, in order to maintain the ownership of Beijing eLong
for all its assets;

	(12)	 	To comply strictly with the terms under the Technical Service Contract and other contracts,
fully perform all obligations under such contracts and do nothing affecting the validity and
enforceability of such contracts.

	12.	 	Party B and Party C further agree that, they shall pledge all their equity interest in
Beijing eLong to eLongNet Technologies for the warrant of the payment obligation of Beijing
eLong under the technical service Contract. Party B and Party C shall handle procedures for
the registrations of the pledge at the company registration authority promptly after execute
the Agreement.

	13.	 	The Agreement is effective to all the parties and their inheritor or transferee, and executed
only for the interest of them. Without the other party’s prior
written consent, no party
shall transfer, pledge or transfer in any other way the right, interest or obligation
under the Agreement.

	14.	 	The execution, validity, interpretation, performance, modification, termination and
settlement of disputes of this Agreement shall be governed by the laws of PRC.

 

 

 

	15.	 	Arbitration

	(1)	 	Any dispute, conflict or claim arising from the agreement or relating with the agreement
(including any issue relating with the existence, validity or termination of the agreement)
should be submitted to China International Economic and Trade Arbitration Commission (the
“Arbitration Commission”). Arbitration Commission shall conduct arbitration in accordance with
the then effective rules of Arbitration application. The arbitration award shall be final
and binding upon both parties.

	(2)	 	Arbitration place shall be in Beijing, PRC.

	(3)	 	Arbitration language shall be Chinese.

	(4)	 	The arbitral panel shall be composed of three arbitrators. Both parties should respectively
appoint a arbitrator, the chairman of the court of arbitration shall be appointed by both
parties through consultation. In case both parties do not coincide in opinion of the person
selected for the chief arbitrator within twenty days from the date of their respectively
appoint an arbitrator, the director of Arbitration Commission shall have right to appoint the
chief arbitrator. The chief arbitrator shall not be a Chinese citizen or United State citizen.

	(5)	 	Both parties agree that the court of arbitration established according to the regulation
shall have right to provide actually performed relief on the proper situation according with
China’s Law (including but not being limited to the Contract
Law of the People’s Republic of
China). For the avoidance of doubt, both parties further that any court having jurisdiction
(including China’s Court) shall carry out the arbitral award of actual performance issued by
the court of arbitration.

	(6)	 	Both parties agreed to conduct arbitration in accordance with this regulation, and
irrepealably waive the right to appeal, reexamine or prosecute to national court or other
administration of justice in any form, and the precondition shall be that the aforesaid waiver
is effective. However the waiver of both parties does not include any post-arbitration
injunction, post-arbitration distress warrant or other command issued by any court having
jurisdiction (including PRC Court) for terminating the arbitration procedure or carrying out
any arbitral award.

	16.	 	This Agreement shall be executed as of the date first set forth above, and become effective
upon the completion of the transfer of the equity interest.

	17.	 	Party B and Party C will not cancel or terminate this Agreement under any circumstance,
except (1) Party A committed gross negligence, fraud or other serious illegal act, or (2)
Party A becomes bankrupt or insolvent;

	18.	 	No amendment or change is permitted unless with written agreement from parties to this
agreement. Any outstanding issues of this agreement, if any, shall be supplemented by parties
hereto through signing a written agreement. Any amendment, change and supplement executed by
all the parties and any appendix of this Agreement shall be the indispensable part of this
Agreement.

	19.	 	This Agreement is the complete agreement of the transaction stipulated in this Agreement and
supercedes all the oral negotiation or written opinion for this transaction heretofore.

	20.	 	This Agreement is divisible and any invalid or unenforceable clause of this Agreement will
not affect the effectiveness and enforceability of other clause of this Agreement.

	21.	 	The business, operation, financial affairs and other confidential documents concerning any
party of this Agreement are confidential data. All the parties shall strictly protect and
maintain the confidentiality of all such confidential data acquired from The Agreement or from
the performance of The Agreement.

	22.	 	This Agreement is in triplicate and each Party holds one copy. Each original has the same
legal effect.

(No text hereunder)

 

 

 

IN WITNESS WHEREOF, Parties to this Agreement or through their duly authorized representatives have
executed this Agreement as of the date first written above in Beijing.

Party A: eLong, Inc.

	 	 	 	 	 

	Authorized Representative (Signature):

	 	/s/ Sami Farhad
 

	 	 

Party B: Guangfu Cui

	 	 	 	 	 

	Signature:

	 	/s/ Guangfu Cui
 

	 	 

Party C: Jack Wang

	 	 	 	 	 

	Signature:

	 	/s/ Jack WangExhibit 4.28

Exhibit 4.28

[Note: Translation from the original agreement written in Chinese]

Execution Copy

Fourth Amended and Restated Equity Interests Pledge Agreement

This Fourth Amended and Restated Equity Interests Pledge Agreement (the “Agreement”) is
entered into on the day of June 11, 2010 by and between the following parties:

Pledgee: eLongNet Information Technology (Beijing) Co., Ltd.

Address: 10 Jiuxianqiao Road, Chaoyang District, Beijing

Legal Representative: Justin Tang

Pledgor: Guangfu Cui

ID No.: 110108196902010857

Address: No.1, XiangHongqi Street, Haidian District, Beijing

WHEREAS,

	(1)	 	Beijing eLong Information Technology Co., Ltd. (hereinafter “Beijing eLong”) is a wholly
domestic-owned company registered under the People’s Republic of China (hereinafter “China”)
laws and regulations. Beijing eLong is qualified to engage in Internet information service,
and operates www.elong.com (hereinafter “Elong.com”);

	(2)	 	The Pledgee and Beijing eLong entered into an Exclusive Technical Consulting and Services
Agreement, dated February 1, 2001, a Supplementary Agreement of Exclusive Technical Consulting
and Services Agreement, dated 22, 2003, and an amended and restated Service Agreement, dated
July 20, 2004, (hereinafter “Service Agreement”) in which the Pledgee agreed to serve as the
exclusive provider of technical services and operations to Beijing eLong for
www.eLong.com;

	(3)	 	The Pledgee and Beijing eLong signed an Amended and Restated Trademark License Agreement
(“Trademark License Agreement”) on July 20, 2004, according to which the Pledgee authorizes
Beijing eLong to use certain trademarks;

	(4)	 	The Pledgee and Beijing eLong signed an Amended and Restated Domain name Agreement (“Domain
name Agreement”) on July 20, 2004, according to which the Pledgee authorizes Beijing eLong to
use certain domain names;

	(5)	 	The Pledgee and Beijing eLong signed a Fourth Amended and Restated Business Operation
Agreement (“Business Operation Agreement”) on June 11, 2010. According to the agreement,
Beijing eLong agrees not to conduct any business likely to have a material effect on the
capital, debt or rights of the Pledgee, without the prior written consent of the Pledgee;

	(6)	 	The Pledgee and Beijing eLong entered into an Amended and Restated Cooperation Agreement
(“Cooperation Agreement”) on July 20, 2004. According to the agreement, Beijing eLong agrees
to corporate with the Pledgee on booking hotels and other business online though Elong.com;

	(7)	 	According to the Share and Debt Transfer Agreement signed
between the Pledgee and Yue Justin Tang
who held 75% Equity of Beijing eLong on June 11, 2010, Yue Justin Tang transferred the 75%
equity interest in, and all rights and obligations relating thereto, to Pledgor, and Pledgor
currently holds 87.5% equity interest in  Beijing eLong as the result of the transfer.

	(8)	 	In order to make sure that Beijing eLong performs its obligations of payment for the internet
advertising technical service and technical service and software license provided by the
Pledgee under provisions of the service agreement, and obligations related with the Pledgee in
“Trademark License Agreement” “Domain name Agreement” “Business Operation Agreement” and
“Cooperation Agreement” and to reflect the Pledgor’s succession to the Third Amended and
Restated Equity Interest Pledge Agreement signed between the Pledgee and Yue Justin Tang on April
21, 2008, the Pledgor and the Pledgee intend to make a fourth amendment and restatement
to the equity interest pledge agreement as stated herein and the Pledgor is willing to pledge
all of its equity interest in Beijing eLong as pledge security.

 

 

 

Therefore the Pledgee and the Pledgor through mutual negotiations hereby enter into this Agreement
based upon the following terms:

	1.	 	Definitions and Interpretation

Unless otherwise provided in this Agreement, the following terms shall have the following meanings:

	1.1	 	Pledge means the full content of Article 2 hereunder

	1.2	 	Equity Interest means all equity interests in Beijing eLong legally held by the Pledgor.

	1.3	 	Rate of Pledge means the ratio between the value of the pledge under this Agreement and the
exclusive technical consulting and service fees under the Service Agreement.

	1.4	 	Term of Pledge means the period provided for under Article 3.2 hereunder.

	1.5	 	Event of Default means any event in accordance with Article 7.1 hereunder.

	1.6	 	Notice of Default means the notice of default issued by the Pledgee in accordance with this
Agreement.

	2.	 	Assignments and Pledge

	2.1	 	The Pledgor agrees to pledge all its equity interest in Beijing eLong to the Pledgee. Pledge
under this Agreement refers to the rights owned by the Pledgee who shall be entitled to have
priority in receiving payment by the evaluation or proceeds from the auction or sale of the
equity interests pledged by the Pledgor to the Pledgee.

	3.	 	Rate of Pledge and Term of Pledge

	3.1	 	The rate of pledge

3.1.1 The rate of pledge shall be 100%

	3.2	 	The term of pledge

3.2.1 This Agreement shall take effect as of the date when the equity interests under this
Agreement are recorded in the Register of Shareholder of Beijing eLong. The term of the Pledge is the same with
the term of Service Agreement. After entering into this Agreement, the
parties shall register the pledge with the Administration for
Industry and Commerce where Beijing eLong is registered.

3.2.2
During the period of the pledge, the Pledgor shall be entitled to
dispose of the Pledge in accordance
with this Agreement in the event that Beijing eLong fails to pay exclusive technical
Consulting and service fee or software license in accordance with the Service Agreement or
fails to perform the obligations of “Trademark License Agreement” “Domain name Agreement”
“Business Operation Agreement” or “Cooperation Agreement”

	4.	 	Physical Possession Of Documents

	4.1	 	During the term of Pledge under this Agreement, the Pledgor shall deliver the physical
possession of the Certificate of Registered Capital and the Name List of Shareholders of Beijing
eLong to the Pledgee within one week after the date of this Agreement.

 

 

 

	4.2	 	The Pledgee shall be entitled to collect the dividends from the equity interests.

	4.3	 	The pledge of in this Agreement shall be record in the shareholder’s register.

	5.	 	Representation of the Pledgor

	 	5.1	 	The Pledgor is the legal owner of the equity interests.
	 
	 	5.2	 	The Pledgor does not pledge or encumber the equity interests to any other person except for
the Pledgee.

	6.	 	Warranties and Guarantee of the Pledgor

	6.1	 	During the effective term of this Agreement, the Pledgor covenants to the Pledgee that the
Pledgor shall:

6.1.1 Not transfer or assign the equity interests, create or permit to create any pledges,
which may have an adverse effect on the rights or benefits of the Pledgee without prior
written consent from the Pledgee; unless the two parties have agreed otherwise.

6.1.2 Comply with and implement laws and regulations with respect to the pledge of rights,
present to the Pledgee the notices, orders or suggestions with respect to the Pledge issued or
made by the competent authority within five days upon receiving such notices, orders or
suggestions and comply with such notices, orders or suggestions, or object to the foregoing
matters at the reasonable request of the Pledgee or with consent from the Pledgee.

6.1.3 Timely notify the Pledgee of any events or any received notices which may affect the
Pledgor’s equity interest or any part of its right, and any events or any received notices
which may change the Pledgor’s any covenant and obligation under this Agreement or which may
affect the Pledgor’s performance of its obligations under this Agreement.

	6.2	 	The Pledgor agrees that the Pledgee’s right of exercising the Pledge obtained from this
Agreement shall not be suspended or hampered through legal procedure by the Pledgor or any
successors of the Pledgor or any person authorized by the Pledgor or any other person.

	6.3	 	The Pledgor warrants to the Pledgee that in order to protect or perfect the security over the
payment of the technical consulting and service fees under the Service Agreement, the Pledgor
shall execute in good faith and cause other parties who have interests in the pledge to
execute all the title certificates, agreements, and or perform and cause other parties who
have interests to take action as required by the Pledgee and make access to exercise the
rights and authorization vested in the Pledgee under this Agreement.

	6.4	 	Execute all the documents with respect to the changes of certificate of equity interests with
the Pledgee or the person (natural person or legal entity) designed by the Pledgee, and
provides all the notices, orders and decisions regarded as necessary by the Pledgee with the
Pledgee within the reasonable time.

	6.5	 	The Pledgor warrants to the Pledgee that the Pledgor will comply with and perform all the
guarantees, covenants, agreements, representations and conditions for the benefits of the
Pledgee. The Pledgor shall compensate all the losses suffered by the Pledgee for the reasons
that the Pledgor does not perform or fully perform their guarantees, covenants, agreements,
representations and conditions.

	7.	 	Default

	7.1	 	The following events shall be regarded as the event of default:

7.1.1 Beijing eLong fails to make full payment of the exclusive technical consulting and
service fees and software license fees as scheduled under the Service Agreement; or fails to
perform the
obligation of “Domain name Agreement” “Business Operation Agreement” and “Cooperation
Agreement”;

 

 

 

7.1.2 The Pledgor makes any material misleading or fraudulent representations or warranties
under Article 5 herein, and/or the Pledgor is in violation of any warranties under Article 6
herein;

7.1.3 The Pledgor violates the covenants under any of the Articles herein;

7.1.4 The Pledgor waives the pledged equity interests or transfers or assigns the pledged
equity interests without prior written consent from the Pledgee;

7.1.5 The Pledgor is unable to repay any general debt or other debts. The Pledgor’s any
external loan, security, compensation, covenants or any other compensation liabilities (1) are
required to be repaid or performed prior to the scheduled date; or (2) are due but can not be
repaid or performed as scheduled and thereby cause the Pledgee to deem that the Pledgor’s
capacity to perform the obligations herein is affected;

7.1.6 This Agreement is illegal for the reason of the promulgation of the related laws or the
Pledgor’s incapability of continuing to perform the obligations herein;

7.1.7 Any approval, permits, licenses or authorization from the competent authority of the
government needed to perform this Agreement or validate this Agreement are withdrawn,
suspended, invalidated or materially amended;

7.1.8 The property of the Pledgor is adversely changed and cause the Pledgee deem that the
capability of the Pledgor to perform the obligations herein is affected;

7.1.9 The successors or assignees of the Beijing eLong are only entitled to perform a portion
of or refuse to perform the payment liability under the Service Agreement;

7.1.10 The default resulted in the action or inaction of Pledgor’s breaching the other
Articles of this Agreement;

7.1.11 Other circumstances whereby the Pledgee is incapable of exercising the right to dispose
the Pledge in accordance with the related laws.

	7.2	 	The Pledgor shall immediately give a written notice to the Pledgee if the Pledgor is aware of
or finds that any event under Article 7.1 herein or any events that may result in the foregoing
events has occurred or is continuing.

	7.3	 	Unless the event of default under Article 7.1 herein has been solved to the Pledgee’s
satisfaction, the Pledgee, at any time when the event of default happens or thereafter, may
give a written notice of default to the Pledgor and require the Pledgor to immediately make
full payment of the overdue service fees and software license under the Service Agreement and
other payables or perform the obligation of “Trademark License Agreement” “Domain name
Agreement” “Business Operation Agreement” or “Cooperation Agreement”, or dispose the Pledge in
accordance with Article 8 herein.

	8.	 	Exercise Of The Right Of The Pledge

	8.1	 	In case Beijing eLong does not fully repay the aforesaid technical service fees and software
license fees of the Service Agreement, and does fully perform the obligations of “Trademark
License Agreement” “Domain name Agreement” “Business Operation Agreement” and “Cooperation
Agreement”, the Pledgor shall not transfer or assign the pledge without prior written approval
from the Pledgee prior to the full repayment of the consulting and service fee under the
Service Agreement. Unless the two parties have agreed otherwise.

	8.2	 	Subject to Article 7, the Pledgee may exercise the right to dispose the Pledge when the
Pledgee gives a notice of default to the Pledgor.

 

 

 

	8.3	 	The Pledgee is entitled to have priority in receiving payment by the evaluation or proceeds
from the auction or sale of whole or part of the equity interests pledged herein in accordance
with legal procedure until the outstanding consulting and service fees and all other payables
under the Service Agreement are repaid.

	8.4	 	The Pledgor shall not hinder the Pledgee from disposing the Pledge in accordance with this
Agreement and shall give necessary assistance so that the Pledgee could realize his Pledge.

9. Transfers Or Assignment

	9.1	 	The Pledgor shall not donate or transfer his rights and obligations herein without prior
consent from the Pledgee.

	9.2	 	This Agreement shall be binding upon the Pledgor and his successors and be effective to the
Pledgee and his each successor and assignee.

	9.3	 	The Pledgee may transfer or assign his all or any rights and obligations under the Service
Agreement to any individual (natural person or legal entity) at any time. In this case, the
assignee shall enjoy and undertake the same rights and obligations herein of the Pledgee as if
the assignee is a party hereto. When the Pledgee transfers or assigns the rights and
obligations under the Service Agreement, at the request of the Pledgee, the Pledgor shall
execute the relevant agreements and/or documents with respect to such transfer or assignment.

	9.4	 	After the Pledgee’s change resulting from the transfer or assignment, the new parties to the
pledge shall enter into a pledge agreement.

	10.	 	Termination

	10.1	 	This Agreement shall not be terminated until the following conditions are met (1) All the
consulting and service fees and software license fees under the Service Agreement are paid
off, (2) Beijing eLong has fully perform all the obligations under “Trademark License
Agreement” “Domain name Agreement” “Business Operation Agreement” and “Cooperation Agreement”,
or the aforesaid obligations are terminated, and (3) Beijing eLong does not perform the
obligations under “Trademark License Agreement” “Domain name Agreement” “Business Operation
Agreement” and “Cooperation Agreement”.

	10.2	 	In case the agreement is terminated, the Pledgee shall cancel or terminate this Agreement
within reasonable time as soon as practicable.

	11.	 	Formalities Fees And Other Charges

	 	11.1	 	The Pledgor shall be responsible for all the fees and actual expenditures in
relation to this Agreement including but not limited to legal fees, cost of production,
stamp tax and any other taxes and charges. If the Pledgee pays the relevant taxes in
accordance with the laws, the Pledgor shall fully indemnify such taxes paid by the
Pledgee.

	 	11.2	 	The Pledgor shall be responsible for all the fees (including but not limited to any
taxes, formalities fees, management fees, litigation fees, attorney’s fees, and various
insurance premiums in connection with disposition of Pledge) incurred by the Pledgor for
the reason that the Pledgor fails to pay any payable taxes, fees or charges in accordance
with this Agreement; or the Pledgee has recourse to any foregoing taxes, charges or fees
by any means for other reasons.

	12.	 	Force Majeure

	12.1	 	Force majeure, which includes acts of governments, acts of nature, fire, explosion, typhoon,
flood, earthquake, tide, lightning, war, means any unforeseen events beyond the prevented
party’s reasonable control and cannot be prevented with reasonable care. However, any shortage
of credit, capital or finance shall not be regarded as an event beyond a Party’s reasonable
control. The Pledge affected by force majeure shall promptly notify the other party;

 

 

 

	12.2	 	In the event that the affected party is delayed in or prevented from performing its
obligations under this Agreement by force majeure, only within the scope of such delay or
prevention, the affected party will not be responsible for any damage by reason of such a
failure or delay of performance. The affected party shall take appropriate means to minimize
or remove the effects of force majeure and attempt to resume performance of the obligations
delayed or prevented by the event of force majeure. After the event of force majeure is
removed, both parties agree to resume the performance of this Agreement with their best
efforts.

	13.	 	Dispute Resolution

	13.1	 	This Agreement shall be governed by and construed in accordance with the PRC law.

	13.2	 	Any dispute, conflict or claim arising from the agreement or
relating to the agreement
(including any issue relating with the existence, validity or termination of the agreement)
should be submitted to China International Economic and Trade Arbitration Commission (the
“Arbitration Commission”). Arbitration Commission shall conduct arbitration in accordance with
the current effective rules of Arbitration application. The arbitration award shall be final
and binding upon both parties.

	13.3	 	Arbitration place shall be in Beijing, PRC.

	13.4	 	Arbitration language shall be Chinese.

	13.5	 	The arbitral panel shall be composed of three arbitrators. Both parties should respectively
appoint an arbitrator, the chairman of the court of arbitration shall be appointed by both
parties through consultation. In case both parties do not coincide in opinion of the person
selected for the chief arbitrator within twenty days from the date of their respectively
appoint an arbitrator, the director of Arbitration Commission shall have right to appoint the
chief arbitrator. The chief arbitrator shall not be Chinese citizen or United State citizen.

	13.6	 	Both parties agreed that the court of arbitration established according to the regulation
shall have right to provide actually performed relief on the proper situation according with
PRC Law (including but not being limited to Law of Agreement of the People’s Republic of
China). For the avoidance of doubt, both parties further that any court having jurisdiction
(including PRC Court) shall carry out the arbitral award of actual performance issued by the
court of arbitration.

	13.7	 	Both parties agreed to conduct arbitration in accordance with this regulation, and
irrepealably waive the right to appeal, reexamine or prosecute to national court or other
administration of justice in any form, and the precondition shall be that the aforesaid waiver
is effective. However the waiver of both parties does not include any post-arbitration
injunction, post-arbitration distress warrant or other command issued by any court having
jurisdiction (including PRC Court) for terminating the arbitration procedure or carrying out
any arbitral award.

	14.	 	Notice

	14.1	 	Any notice, which is given by the parties hereto for the purpose of performing the rights,
duties and obligations hereunder, shall be in writing form (including fax and telex). Where
such notice is delivered personally, the time of notice is the time when such notice actually
reaches the addressee; where such notice is transmitted by telex or facsimile, the notice time
is the time when such notice is transmitted. If such notice does not reach the addressee on
business date or reaches the addressee after the business time, the next business day
following such day is the date of notice. The delivery place is the address first written
above of the parties hereto or the address advised in writing including facsimile and telex
from time to time.

	15.	 	Appendices

	15.1	 	The appendices to this Agreement are entire and integral part of this Agreement.

 

 

 

	16.	 	Effectiveness

	16.1	 	This agreement and any amendments, modification, supplements, additions or changes hereto
shall be in writing, and become effective upon being executed and sealed by the parties
hereto.

	16.2	 	This Agreement is executed in Chinese in duplicate, and each party holds one copy and each
copy and the copies shall have the same legal effect.

(No text hereunder)

In witness whereof the parties hereto have caused this Agreement to be duly executed on their
behalf by a duly authorized representative as of the Effective Date first written above.

	 	 	 	 	 
	The Pledgee: eLongNet Information Technology (Beijing) Co., Ltd.	 	 
	 
	Signature of Authorized Representative:

	 	/s/ Mike Doyle
 

	 	 

	 	 	 	 	 
	Official Seal:

	 	/s/ [seal of eLongNet Information Technology (Beijing) Co., Ltd.]
 

	 	 

	 	 	 	 	 
	The Pledgor: Guangfu Cui	 	 
	Signature:

	 	/s/ Guangfu Cui

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