Document:

Exhibit 10.54

 

Execution Copy

 

DATED January 1, 2011

 

 

(1)                                QIHOO 360 TECHNOLOGY COMPANY LIMITED

 

(2)                                QIZHI SOFTWARE (BEIJING) CO., LTD.

 

(3)                                BEIJING 3G3W SCIENCE & TECHNOLOGY CO., LTD.

 

(4)                                BEIJING QIBU TIANXIA TECHNOLOGY CO., LTD.

 

(5)                                BEIJING QIHU TECHNOLOGY COMPANY LIMITED

 

(6)                                QIHOO 360 SOFTWARE (BEIJING) COMPANY LIMITED

 

(7)                                SHANGHAI QITAI NETWORK TECHNOLOGY CO., LTD.

 

(8)                                BEIJING STAR WORLD TECHNOLOGY COMPANY LIMITED

 

(9)                                YOUNG VISION GROUP LIMITED

 

(10)                          GLOBAL VILLAGE ASSOCIATES LIMITED

 

(11)                          THE PERSONS NAMED AS SPECIAL MANAGERS ON THE SIGNATURE PAGES HERETO

 

(12)                          THE EXISTING SERIES C INVESTORS NAMED IN SCHEDULE 1

 

(13)                          IDG TECHNOLOGY VENTURE INVESTMENT IV, LP

 

 

SUPPLEMENTAL SUBSCRIPTION, AMENDMENT AND

 

ADHERENCE AGREEMENT

 

relating to

 

QIHOO TECHNOLOGY COMPANY LIMITED

 

 

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TABLE OF CONTENTS

 

	
1.
    	
DEFINITIONS
    	
4
    
	
2.
    	
PURCHASE OF SOLD SHARES; SUBSCRIPTION   AND ALLOTMENT OF FURTHER   SUBSCRIBED SHARES
    	
6
    
	
3.
    	
REPRESENTATIONS AND WARRANTIES OF THE COVENANTORS
    	
8
    
	
4.
    	
REPRESENTATIONS AND WARRANTIES OF IDG IV
    	
8
    
	
5.
    	
ADHERENCE TO AND AMENDMENT OF THE SERIES C SSA
    	
8
    
	
6.
    	
TERMINATION OF AGREEMENT
    	
9
    
	
7.
    	
MISCELLANEOUS
    	
10
    
	
SCHEDULE 1 EXISTING SERIES INVESTORS
    	
22
    
	
SCHEDULE 2 CONDITIONS PRECEDENT
    	
23
    
	
SCHEDULE 3 OBLIGATIONS AT COMPLETION
    	
24
    
	
EXHIBIT   A AMENDED CHARTER DOCUMENTS
    	
25
    
	
EXHIBIT   B AMENDMENT AND ADHERENCE TO THE SHA
    	
26
    
	
EXHIBIT   C AMENDMENT AND ADHERENCE TO THE RRA
    	
27
    
	
EXHIBIT   D AMENDMENT AND ADHERENCE TO THE SIA
    	
28
    

 

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THIS AGREEMENT is made the 1st day of  January, 2011

 

BETWEEN:

 

(1)                          Qihoo 360 Technology Company Limited (formerly known as “Qihoo  Technology Company Limited”), an exempted company organized and existing under the laws of the Cayman Islands (the “Company”);

 

(2)                          Qizhi Software (Beijing) Co., Ltd. (in Chinese: 奇智软件(北京)有限公司), a wholly foreign owned enterprise established under the laws of the PRC (“WFOE” or “Qizhi Beijing”);

 

(3)                          Beijing 3G3W Science & Technology Co., Ltd. (in Chinese: 北京三际无限网络科技有限公司), a limited liability company established under the laws of the PRC ( “Beijing 3G3W”);

 

(4)                          Beijing Qibu Tianxia Technology Co., Ltd. (in Chinese: 北京奇步天下科技有限公司), a limited liability company established under the laws of the PRC (“Qibu Tianxia”);

 

(5)                          Beijing Qihoo Technology Company Limited (in Chinese: 北京奇虎科技有限公司), a limited liability company established under the laws of the PRC (“Beijing Qihoo”);

 

(6)                          Qihoo 360 Software (Beijing) Company Limited (in Chinese: 奇虎三六零软件(北京)有限公司) , a limited liability company established under the laws of the PRC (“Qihoo 360”);

 

(7)                          Shanghai Qitai Network Technology Co., Ltd. (in Chinese: 上海奇泰网络科技有限公司), a limited liability company established under the laws of the PRC (“Shanghai Qitai”);

 

(8)                          Beijing Star World Technology Company Limited (in Chinese: 北京世界星辉科技有限公司), a limited liability company established under the laws of the PRC (“Star World”, together with Beijing 3G3W, Qibu Tianxia, Beijing Qihoo, Qihoo 360 and Shanghai Qitai, collectively the “Domestic Companies”, and individually each a “Domestic Company”);

 

(9)                          Young Vision Group Limited, an exempted company organized and existing under the laws of the British Virgin Islands (“Young Vision”);

 

(10)                    Global Village Associates Limited, a company organized and existing under the laws of the British Virgin Islands (“Global Village”);

 

(11)                    The Persons defined as the Special Managers in Section 1 hereof (the “Special Managers”); and

 

(12)                    Each of those Persons, severally and not jointly, whose names are set forth on Schedule 1 hereto as Investors (each an “Existing Series C Investor” and collectively the “Existing Series C Investors”).

 

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(13)                    IDG Technology Venture Investment IV, LP, a limited partnership registered under the laws of the State of Delaware (“IDG IV”).

 

RECITALS

 

(A)      WHEREAS, the Company entered into that certain Share Subscription Agreement (the “Series C SSA”) on 22 December 2009 with the Existing Series C Investors and certain other parties described therein to issue and allot a total of 7,831,467 Series C Preferred Shares in the share capital of the Company to the Existing Series C Investors (“Series C Financing”).

 

(B)        WHEREAS, the Company omitted to offer to IDG III (in its capacity of a holder of Series A Preferred Shares and Series B Preferred Shares in the share capital of the Company) the opportunity to participate in the Series C Financing, inconsistent with IDG III’s right of first offer and pre-emption provided for in that certain Amended and Restated Shareholders Agreement dated November 7, 2006 and the Second Amended and Restated Memorandum and Articles of Association dated November 7, 2006 relating to the Company (the “Omission”).

 

(C)        WHEREAS, as an attempt to remedy the Omission, the Company, the Existing Series C Investors and other shareholders of the Company entered into that certain Joinder Agreement with IDG IV on 26 April 2010, pursuant to which the Company and the Existing Series C Investors and other shareholders of the Company agreed, among others, that in consideration of IDG III agreeing to waive any rights it may have to participate in the Series C Financing and any claims it may have in respect of the Omission, IDG IV shall, in respect of 156,631 Series A Preferred Shares it acquired from GMO only, be entitled to certain rights, privilege and preference of Series C Shares provided for in the Original Series C Agreements as if IDG IV were an original party to the Original Series C Agreements subscribing for or holding 156,631 Series C Preferred Shares.

 

(D)       The Company wishes to purchase, and IDG IV wishes to sell, the entire legal and beneficial ownership of 156,631 Series A Preferred Shares (“Sold Shares”) currently stood in the name of IDG IV, and  simultaneous with such purchase, the Company agrees to issue and allot to IDG IV, and IDG IV agrees to subscribe for, 156,631 Series C Preferred Shares, all on the terms and conditions set forth in this Agreement.

 

NOW IT IS HEREBY AGREED as follows:

 

1.                                               DEFINITIONS

 

1.1                                          In this Agreement, words and expressions defined in the Series C SSA shall, unless otherwise provided hereunder, bear the same meanings when used herein (including the Recitals), and all provisions of the Series C SSA required to give meaning or effect to the provisions of this Agreement shall (to that extent) be deemed to be incorporated herein.

 

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1.2                                          In this Agreement (including the recitals), except where the context otherwise requires, the following words and expressions shall have the following meanings:

 

“Adherence and Amendments” means collectively the Adherence and Amendment to the Series C SHA, the Adherence and Amendment to the Series C RRA and Adherence and Amendment to the Series C SIA;

 

“Adherence and Amendment to the Series C RRA”  means the Adherence and Amendment to the Series C RRA to be entered into among the parties thereto, substantially in the form attached hereto as Exhibit C;

 

“Adherence and Amendment to the Series C SHA”  means the Adherence and Amendment to the Series C SHA to be entered into among the parties thereto, substantially in the form attached hereto as Exhibit B;

 

“Adherence and Amendment to the Series C SIA”  means the Adherence and Amendment to the Series C SIA to be entered into among the parties thereto, substantially in the form attached hereto as Exhibit D;

 

“Agreed Form” means a form agreed between the Company and IDG IV and for the purposes of identification initialled or signed by or on behalf of each of them;

 

“Amended Charter Documents” means the Fourth Amended and Restated Memorandum and Articles of Association of the Company substantially in the form attached hereto as Exhibit A;

 

“Completion” has the meaning set forth in Section 2.4.1;

 

“Completion Date” has the meaning set forth in Section 2.4.1;

 

“Conditions” means the conditions set out in Schedule 2 hereto;

 

“Encumbrance” means any interest or equity of any person (including any right to acquire, option or right of pre-emption or conversion) or any mortgage, charge, pledge, lien, assignment, hypothecation, security interest, title retention or any other security agreement or arrangement, or any agreement to create any of the foregoing;

 

“Existing Charter Documents” means the Third Amended and Restated Memorandum and Articles of Association of the Company in effect at the date of this Agreement;

 

“Existing Series C Investors” means Trustbridge Partners III, L.P. and Zero2IPO China Fund II, L.P.;

 

“Further Subscribed Shares”  has the meaning ascribed to that term in Clause 2.2.1;

 

“IDG III”  means IDG Technology Venture Investment III, L.P.;

 

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“Original Series C Agreements”  means collectively the Series C SSA, the Series C SHA, the Series C RRA and the Series C SIA;

 

“Series C RRA” means the Second Amended and Restated Registration Rights Agreement relating to the Company dated 8 January 2010;

 

“Series C SSA” has the meaning given to that term in Recital (A);

 

“Series C SHA” means the Second Amended and Restated Shareholders Agreement relating to the Company dated 8 January 2010;

 

“Series C SIA” means the Amended and Restated Share Incentive Agreement relating to the Company dated 8 January 2010;

 

“Sold Shares” has the meaning ascribed to that term in Recital (D);

 

“Transaction Documents” means together this Agreement, the Adherence and Amendments and the Amended Charter Documents; and

 

“US$” means the lawful currency of the United State of America.

 

2.                                               PURCHASE OF SOLD SHARES; SUBSCRIPTION AND ALLOTMENT OF FURTHER SUBSCRIBED SHARES

 

2.1                                          Sale and Purchase of Sold Shares

 

2.1.1                                Subject to the terms and conditions herein set forth, IDG IV  shall sell, at Completion, its entire legal and beneficial ownership of the Sold Shares to the Company with full title guarantee free from all Encumbrances and together with all rights of any nature which are now or which may at any time become attached to them or accrue in respect of them including without limitation all dividends and distributions declared paid or made in respect of them on or after the Completion Date, and the Company shall so purchase.

 

2.1.2                                The consideration (the “Transfer Price”) payable by the Company to IDG IV for the purchase of the legal and beneficial ownership of the  Sold Shares hereunder shall be US$400,004.25 which shall be settled in one lump sum on Completion.

 

2.1.3                                IDG IV  warrants that it is the registered holder and beneficial owner of the Sold Shares and that the Sold Shares are free from all Encumbrances.

 

2.1.4                                IDG IV undertakes to the Company that pending Completion it will not dispose of any interest in any of the Sold Shares or any right attaching to them or create or allow to be created any Encumbrance over any of the Sold Shares or agree (whether subject to any condition precedent or conditions subsequent or otherwise) to do any of such things.

 

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2.2                                        Subscription and Allotment of Further Series C Preferred Shares

 

2.2.1                                Subject to the terms and conditions herein set forth, IDG IV shall, at Completion, subscribe in cash for 156,631 Series C Preferred Shares  (the “Further Subscribed Shares”) at an aggregate subscription price of US$400,004.25 (“Subscription Price”), and the Company shall accordingly issue and allot such Series C Preferred Shares to IDG IV in accordance with the terms of this Agreement.

 

2.2.2                                The Further Subscribed Shares subscribed hereunder shall have the preferences, privileges and rights designated for the Series C Preferred Shares as further set forth in the Amended Charter Documents.

 

2.2.3                                The Company undertakes that the Further Subscribed Shares are free from Encumbrances and, subject to Clause 2.5,  will be credited as fully paid upon Completion.

 

2.3                                        Conditions Precedent

 

2.3.1                                The sale and purchase of the Sold Shares and the issue and allotment and subscription for the Further Subscribed Shares under this Agreement are in all respects conditional on the matters set out in Schedule 2 (Conditions) hereto.

 

2.3.2                                If the Conditions have not all been fulfilled by 31 March 2011 or such later date as may be agreed in writing by the Company and IDG IV, none of the Parties  shall be obliged to complete the sale and purchase of the Sold Shares and the issue and allotment of the Further Subscribed Shares  hereunder and none of the Parties shall have any further rights or obligations hereunder.

 

2.4                                        Completion

 

2.4.1                                Unless this Agreement shall have terminated pursuant to Section 6, and subject to the satisfaction of the Conditions, the closing of (i) the sale and purchase of the Sold Shares and (ii) the allotment of and subscription for the Further Subscribed Shares hereunder (the “Completion”) shall simultaneously take place remotely via exchange of documents and signatures at, or as close as practicable at,  5:00 p.m., Hong Kong time, on the second Business Day following the date upon which the  Conditions shall be satisfied or waived in accordance with this Agreement, or at such other time, place and date that the Company and IDG IV may agree in writing (the “Completion Date”).

 

2.4.2                                On the Completion Date, all (but not just part) of the matters set out in Schedule 3  shall take place simultaneously.

 

2.4.3                                None of the Parties shall be obliged to complete the transactions contemplated hereunder unless (i) the sale and purchase of all the Sold Shares and (ii) the issue 

 

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and allotment of and subscription for the Further Subscribed Shares  are completed simultaneously.

 

2.5                                        Set-off

 

The Parties agree that the Subscription Price payable by IDG IV to the Company under this Agreement shall, upon Completion, be offset by the Transfer Price payable by the Company to IDG IV hereunder.

 

3.                                               REPRESENTATIONS AND WARRANTIES OF THE COVENANTORS

 

3.1                                          Subject to Clause  5.3 below, Section 3 of the Series C SSA shall apply as between IDG IV and the Covenantors and IDG IV shall be entitled to the benefit of Section 3 of the Series C SSA, as if IDG IV were a party to the Series C SSA in the capacity of an Investor.

 

3.2                                          For the avoidance of doubt, no representations and warranties given under Section 3 of the Series C SSA shall be repeated on the date hereof and/or the Completion Date.

 

4.                                               REPRESENTATIONS AND WARRANTIES OF IDG IV

 

4.1                                          Section 4 of the Series C SSA shall apply as between IDG IV and the Covenantors, as if IDG IV were an Investor under the Series C SSA, but so that (a) references in that clause to the Investors under the Series C SSA shall for these purposes be construed to include a reference to IDG IV subscribing for the Further Subscribed Shares under this Agreement and (b) the representations and warranties given thereunder shall be given to the Covenantors by IDG IV as at the date hereof and the Completion Date.

 

4.2                                          IDG IV shall indemnify, defend and hold harmless each of the Covenantors to the fullest extent permitted by law from and against Claims and Damages resulting from or arising out of any breach of any representation or warranty, covenant or agreement made by IDG IV in this Agreement or the other Transaction Documents, provided, however that the cumulative liability of IDG IV to the Covenantors for such breach shall not exceed the amount of the Subscription Price.

 

5.                                               ADHERENCE TO AND AMENDMENT OF THE SERIES C SSA

 

5.1                                          This Agreement shall be supplemental to the Series C SSA, and the Series C SSA, as amended hereby, shall (save to the extent that any obligation thereunder has been fully discharged) remain in full force and effect.

 

5.2                                          Subject as provided for in Clause 5.3 below, and with effect from Completion:

 

5.2.1                                IDG IV agrees to adhere to and be bound by the provisions of Section 8, Section 10.1, Section 11 (other than Section 11.13) of the Series C SSA (the “Restated Series C SSA Clauses”) in so far as they impose obligations on all parties to the Series C SSA or on the Investors (as defined therein); and

 

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5.2.2                                the Parties  agree that IDG IV shall be entitled to the benefit of all rights given in the Series C SSA to all parties thereto or the Investors in the Restated Series C SSA Clauses, as if IDG IV were a party to the Series C SSA in the capacity of an Investor; and

 

5.2.3                                IDG IV shall be and become a party to the Series C SSA in accordance with the foregoing provisions of Clauses 3 and 4 and this Clause 5.2.

 

5.3                                          The Parties  agree that the Series C SSA shall be amended as follows with effect from the Completion Date:

 

5.3.1                                by amending Section 1.1 of the Series C SSA by adding the following:

 

“Further Subscribed Shares” means 156,631 Series C Preferred Shares subscribed by IDG IV in accordance with a Supplemental Subscription, Amendment and Adherence Agreement entered into by the parties hereto, IDG IV and certain other parties described therein on                 , 2010.

 

“IDG IV” means IDG Technology Venture Investment IV, LP..

 

5.3.2                                by amending Section 8, Section 10.1 and Section 11 (other than Section 11.13) of the Series C SSA by adding the words “the Further Subscribed Shares” after the words “Subscribed Shares”, whenever they appear in Section 8, Section 10.1 and Section 11 (other than Section 11.13) of the Series C SSA;

 

5.3.3                                by amending Section 11.3 of the SSA by adding the following at the end of paragraph (f):

 

(f)                                    If to IDG IV:

 

IDG Technology Venture Investment IV, L.P.

 

c/o IDG Capital Management (HK) Ltd.

 

Unit 1509,15/F The Centre

 

99, Queen’s Road,

 

Central, Hong Kong

 

Attention: Mr. Simon Ho

 

Fax: (852) 25291619

 

6.                                               TERMINATION OF AGREEMENT

 

6.1                                          This Agreement may be terminated prior to Completion:

 

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6.1.1                                at any time on or prior to the Completion Date, by mutual written consent of the parties hereto;

 

6.1.2                                at the election of the Company or IDG IV by written notice to the other parties hereto after 5:00 p.m., Hong Kong time, on 31 March 2011 if Completion shall not have occurred, unless such date is extended by the mutual written consent of the Company and IDG IV; provided, however, that the right to terminate this Agreement under this Clause 6.1.2 shall not be available (i) to any party whose breach of any representation, warranty, covenant or agreement given in accordance with this Agreement has been the cause of, or resulted in, the failure of the Completion to occur on or before such date or (ii) if Completion has not occurred solely because any party hereto has not yet obtained a necessary approval from any Governmental Authority.

 

6.1.3                                at the election of the Company, if there has been a material breach of any representation, warranty, covenant or agreement on part of IDG IV under this Agreement, which breach has not been cured within fifteen (15) Business Days of notice to IDG IV of such breach; or

 

6.1.4                                at the election of IDG IV, if there has been a material breach of any representation, warranty, covenant or agreement on the part of the Covenantors given pursuant to this Agreement, which breach has not been cured within fifteen (15) Business Days notice to the Covenantors of such breach.

 

6.2                                          Upon termination of this Agreement, all other rights and obligations of the parties hereunder shall cease to have effect, but without prejudice to the continuing effect of the Original Series C Agreements.

 

7.                                               MISCELLANEOUS

 

7.1                                        Supremacy

 

In the event that there is a conflict between the provisions of this Agreement and those of the Transaction Documents and to the extent permitted by the applicable laws, the provisions of this Agreement shall prevail and, if so reasonably required by any parties hereto, the parties shall procure that the relevant Transaction Documents shall be amended as soon as reasonably practicable in order that such conflict be removed.

 

7.2                                        Successors and Assigns; Third Party Beneficiaries

 

This Agreement shall inure to the benefit of and be binding upon the successors and permitted assigns of the parties hereto.  Subject to applicable securities laws and the terms and conditions thereof, IDG IV may assign any of their rights or obligations under this Agreement or the other Transaction Documents to any of its Affiliates, provided, however, that in no circumstance shall IDG IV shall assign any of its rights or obligations herein to any 

 

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Competitor of the Group Companies.  No Covenantors may assign any of its rights or obligations under this Agreement without the written consent of IDG IV.

 

7.3                                        Waiver of Pre-emptive Rights

 

Without prejudice to any other waiver given hereunder, the Existing Investors waive all rights of pre-emption which they may have (whether under the Existing Charter Documents, any of the Original Series C Agreements, any of the Transaction Documents or otherwise) in respect of the purchase of the Sold Shares and the issuance and allotment of the Further Subscribed Shares as contemplated in and by this Agreement (and any allotment of Ordinary Shares upon the conversion of the Further Subscribed Shares thereby issued).

 

7.4                                        Counterparts

 

This Agreement may be executed in any number of counterparts and by the parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement.  Delivery of an executed counterpart of a signature page of this Agreement by a facsimile shall be as effective as delivery of a manually executed counterpart of a signature page of this Agreement.

 

7.5                                        Headings

 

The headings in this Agreement are for convenience of reference only and shall not limit or otherwise affect the meaning hereof.

 

7.6                                        Governing Law

 

THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO THE PRINCIPLES OF CONFLICTS OF LAW THEREOF.

 

7.7                                        Arbitration

 

7.7.1                                Except as otherwise provided in this Agreement, any dispute or claim arising out of or in connection with or relating to this Agreement, or the breach, termination or invalidity hereof, shall be finally settled by arbitration at the Hong Kong International Arbitration Centre (the “HKIAC”) under the rules of the HKIAC (the “Rules”) as are in force at the date of the notice of arbitration commencing any such arbitration, but subject to the amendments made to the Rules by the rest of this Section 7.7.  For the purpose of such arbitration, there shall be a board of arbitration (the “Board of Arbitration”) consisting of three arbitrators: the Covenantors as one side shall select one (1) arbitrator, IDG IV as the other side shall select one (1) arbitrator, and the third arbitrator shall be selected by mutual agreement of the first two arbitrators, or if these two arbitrators fail to reach agreement on a third arbitrator within twenty (20) days after their selection, such third arbitrator shall thereafter be 

 

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selected by the HKIAC upon application made to it for such purpose.  The place of arbitration shall be in Hong Kong.  All arbitration proceedings shall be conducted in the English language.  The arbitrators shall decide any such dispute or claim strictly in accordance with the governing law specified in Section 7.6.  Judgment upon any arbitral award rendered hereunder may be entered in any court, and/or application may be made to any such court for a judicial acceptance of the award and/or an order of enforcement, as the case may be.  In the event that arbitrators cannot be selected in accordance with the forgoing of this subsection, parties agree to give the right to select all three arbitrators to HKIAC based on the principles of equitability and fairness.

 

7.7.2                                Each party shall cooperate in good faith to expedite (to the maximum extent practicable) the conduct of any arbitral proceedings commenced under this agreement.

 

7.7.3                                Unless the Board of Arbitration shall determine or rule otherwise, the costs and expenses of the arbitration, including the fees of the arbitration, including the fees of the Board of Arbitration, shall be borne (i) by the losing side in the event an award is made in favor of the other side to the arbitration or (ii) equally by each side to the dispute or claim in the event no award is made in favor of any side to the arbitration. Each party shall pay its own fees, disbursements and other charges of its counsel.

 

7.7.4                                Any award made by the Board of Arbitration shall be final and binding on each side to the dispute.  The parties expressly agree to waive the applicability of any laws and regulations that would otherwise give the right to appeal the decisions of the Board of Arbitration so that there shall be no appeal to any court of law from the award of the Board of Arbitration, and a party shall not challenge or resist the enforcement action taken by any other party in whose favor an award of the Board of Arbitration was given.

 

7.7.5                                This Agreement and the rights and obligations of the parties shall remain in full force and effect pending the award in any arbitration proceeding hereunder.

 

7.8                                        Severability

 

If any one or more of the provisions contained herein, or the application thereof in any circumstance, is held invalid, illegal or unenforceable in any respect for any reason, the validity, legality and enforceability of any such provision in every other respect and of the remaining provisions hereof shall not be in any way impaired, unless the provisions held invalid, illegal or unenforceable shall substantially impair the benefits of the remaining provisions hereof.

 

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7.9                                        Rules of Construction

 

Unless the context otherwise requires, references to sections, subsections or schedules refer to sections, subsections or schedules of this Agreement.

 

7.10                                 Entire Agreement

 

This Agreement together with the Transaction Documents and the Original Series C Agreements (as amended hereby and by the Adherence and Amendment Agreements (as the case may be)) represents the entire agreement between the parties in relation to the matters the subject matter hereof and shall supersede any previous agreement or understanding between all or any of the parties in relation to all or any such matters.

 

7.11                                 Further Assurances

 

Each of the parties shall execute such documents and perform such further acts (including, without limitation, obtaining any consents, exemptions, authorizations or other actions by, or giving any notices to, or making any filings with, any Governmental Authority or any other Person) as may be reasonably required or desirable to carry out or to perform the provisions of this Agreement.

 

7.12                                 Costs and Expenses

 

Each party shall bear its own costs and expenses incurred by it in connection with the negotiation, preparation, execution and performance of this Agreement and all ancillary documents associated with the subscription by the New Investors of the Further Subscribed Shares hereunder.  In addition, any stamp or capital duty payable on the issuance of the Further Subscribed Shares shall be borne by the New Investors.

 

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IN WITNESS WHEREOF, the parties have executed this agreement as a deed and delivered it the day and year first above written.

 

 

	
 
    	
SIGNATURE PAGE
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
GROUP COMPANIES:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
QIHOO 360 TECHNOLOGY   COMPANY LIMITED
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Xiangdong Qi
    
	
 
    	
 
    	
Name:
    
	
 
    	
 
    	
Title:
    

 

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QIZHI SOFTWARE (BEIJING) CO., LTD.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ [Company Stamp of Qizhi Software   (Beijing) Co., Ltd.]
    
	
 
    	
 
    	
Name:
    
	
 
    	
 
    	
Title:
    

 

15

 

	
 
    	
BEIJING 3G3W SCIENCE & TECHNOLOGY
   CO., LTD.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ [Company Stamp of Beijing 3G3W   Science & Technology Co., Ltd.]
    
	
 
    	
 
    	
Name:
    
	
 
    	
 
    	
Title:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
BEIJING QIBU TIANXIA TECHNOLOGY CO., LTD.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ [Company Stamp of Beijing Qibu Tianxia   Technology Co., Ltd.
    
	
 
    	
 
    	
Name:
    
	
 
    	
 
    	
Title:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
BEIJING QIHU TECHNOLOGY   COMPANY LIMITED
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ [Company Stamp of Beijing Qihu Technology   Company Limited]
    
	
 
    	
 
    	
Name:
    
	
 
    	
 
    	
Title:
    

 

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QIHOO 360 SOFTWARE   (BEIJING) COMPANY
   LIMITED
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ [Company Stamp of Qihoo 360 Software   (Beijing) Company Limited]
    
	
 
    	
 
    	
Name:
    
	
 
    	
 
    	
Title:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
SHANGHAI QITAI NETWORK   TECHNOLOGY CO.,
   LTD.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ [Company Stamp of Shanghai Qitai Network   Technology Co., Ltd.]
    
	
 
    	
 
    	
Name:
    
	
 
    	
 
    	
Title:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
BEIJING STAR WORLD   TECHNOLOGY COMPANY LIMITED
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ [Company Stamp of Beijing Star   World Technology Company Limited]
    
	
 
    	
 
    	
Name:
    
	
 
    	
 
    	
Title:
    

 

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HOLDERS   OF ORDINARY SHARES:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
YOUNG VISION GROUP   LIMITED
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Xiangdong Qi
    
	
 
    	
 
    	
Name:
    
	
 
    	
 
    	
Title:
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
GLOBAL   VILLAGE ASSOCIATES LIMITED
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Hongyi Zhou
    
	
 
    	
 
    	
Name:
    
	
 
    	
 
    	
Title:
    

 

18

 

	
 
    	
SPECIAL MANAGERS
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/ Hongyi Zhou
    
	
 
    	
HONGYI ZHOU
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/ Xiangdong Qi
    
	
 
    	
XIANGDONG QI
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/ Xiaohong Shi
    
	
 
    	
XIAOHONG  SHI
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/ Shu Cao
    
	
 
    	
SHU CAO
    

 

19

 

	
 
    	
EXISTING SERIES C INVESTORS:  
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
TRUSTBRIDGE PARTNERS III, L.P.
    
	
 
    	
 
    
	
 
    	
By:
    	
TB PARTNERS GP3, L.P.,
   its general partner
    
	
 
    	
By:
    	
TB PARTNERS GP LIMITED,
   its general partner
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Shujun Li
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
Name: Shujun Li
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
Title: Director
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
ZERO2IPO CHINA FUND II, L.P.
    
	
 
    	
 
    
	
 
    	
By:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Danny Chung
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
Name: Mr. Danny Chung  
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
Title: Managing Director
    
				

 

20

 

	
 
    	
IDG TECHNOLOGY VENTURE INVESTMENT IV,
   L.P.
    
	
 
    	
 
    
	
 
    	
By:
    	
IDG   Technology Venture Investment IV, LLC, its General Partner  
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Illegible  
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
Name:  
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
Title:
    

 

21

 

SCHEDULE 1

 

EXISTING SERIES C INVESTORS

 

Trustbridge Partners III, L.P. ;

 

Zero2IPO China Fund II, L.P.

 

22

 

SCHEDULE 2

 

CONDITIONS PRECEDENT

 

1.               All necessary resolutions (whether directors or shareholders resolutions as the case may be) of the Company having been passed, authorising and approving, inter alia, (i) the purchase by the Company of the Sold Shares; (ii) the allotment of all the Further Subscribed Shares to be issued pursuant to this Agreement; (iii) the adoption of the Amended Charter Documents as the memorandum and articles of association of the Company and (iv) the execution by the Company of all of the Transaction Documents to which it is a party; and

 

2.               The Adherence and Amendment Agreements having been duly executed and delivered by all the parties thereto.

 

23

 

SCHEDULE 3

 

OBLIGATIONS AT COMPLETION

 

1.  IDG’S obligations on Completion

 

At Completion, IDG IV shall:

 

(a)                   deliver to the Company a duly executed stock transfer form sufficient in every respect to transfer to the Company the legal and beneficial title to the Sold Shares;

 

(b)                  surrender to the Company the Share Certificate representing the Sold Shares for cancellation purposes;

 

(c)                   deliver to the Company an application for subscribe for the Further Subscribed Shares at the Subscription Price;

 

(d)                  deliver to the Company the shareholders’ written resolution duly signed by it as referred to in paragraph 1 of Schedule 2; and

 

(e)                   deliver to the Company the Adherence and Amendment Agreements duly executed by it.

 

2.  The Company’s obligations on Completion

 

At Completion, the Company shall:

 

(a)                   deliver to IDG IV a certified copy of the written board resolutions duly executed by all directors of the Company and of the shareholders written resolutions of the Company duly executed by all shareholders of the Company (other than IDG IV), as referred to in paragraph 1 of Schedule 2;

 

(b)                  allot to IDG IV the Further Subscribed Shares free from Encumbrances and credited as fully paid, enter such subscription in its Register of Members, issue to IDG IV definitive certificates for such shares and deliver to IDG IV a certified copy of its Register of Members; and

 

(c)                   deliver to IDG IV the Adherence and Amendments duly executed by each of the parties thereto (other than IDG IV).

 

24

 

EXHIBIT A

 

AMENDED CHARTER DOCUMENTS

 

25

 

EXHIBIT B

 

AMENDMENT AND ADHERENCE TO THE SHAREHOLDERS AGREMENET

 

26

 

EXHIBIT C

 

AMENDMENT AND ADHERENCE TO THE REGISTRATION AGREEMENT

 

27

 

EXHIBIT D

 

AMENDMENT AND ADHERENCE TO THE SHARE INCENTIVE AGREEMENT

 

28Exhibit 10.55

 

Execution Copy

 

DATED January 1, 2011

 

 

	
(1)
    	
QIHOO 360 TECHNOLOGY COMPANY   LIMITED
    
	
(2)
    	
QIZHI SOFTWARE (BEIJING) CO., LTD.
    
	
(3)
    	
BEIJING 3G3W SCIENCE & TECHNOLOGY   CO., LTD.
    
	
(4)
    	
BEIJING QIBU TIANXIA TECHNOLOGY CO., LTD.
    
	
(5)
    	
BEIJING QIHU TECHNOLOGY COMPANY LIMITED
    
	
(6)
    	
QIHOO 360 SOFTWARE (BEIJING) COMPANY LIMITED
    
	
(7)
    	
SHANGHAI QITAI NETWORK TECHNOLOGY CO., LTD.
    
	
(8)
    	
BEIJING STAR WORLD TECHNOLOGY COMPANY   LIMITED
    
	
(9)
    	
YOUNG VISION GROUP LIMITED
    
	
(10)
    	
SHAREHOLDERS OF YOUNG VISION GROUP LIMITED
    
	
(11)
    	
GLOBAL VILLAGE ASSOCIATES LIMITED
    
	
(12)
    	
SHAREHOLDER OF GLOBAL VILLAGE ASSOCIATES LIMITED
    
	
(13)
    	
THE PERSONS NAMED AS SPECIAL MANAGERS AND SPECIAL DIRECTOR ON THE   SIGNATURE PAGES HERETO
    
	
 
    	
and
    
	
(14)
    	
SEQUOIA CAPITAL CHINA I, L.P.
    
	
(15)
    	
SEQUOIA CAPITAL CHINA PARTNERS FUND I, L.P.
    
	
(16)
    	
SEQUOIA CAPITAL CHINA PRINCIPALS FUND I, L.P.
    
	
(17)
    	
CDH NET TECHNOLOGY LIMITED
    
	
(18)
    	
GMO VENTUREPARTNERS INVESTMENT LIMITED PARTNERSHIP
    
	
(19)
    	
IDG TECHNOLOGY VENTURE INVESTMENT III, LP
    
	
(20)
    	
JOINWAY INVESTMENTS LIMITED
    
	
(21)
    	
MATRIX PARTNERS VII, L.P.
    
	
(22)
    	
WESTON & CO. VII LLC
    
	
(23)
    	
REDPOINT VENTURES III, L.P.
    
	
(24)
    	
REDPOINT ASSOCIATES III, LLC
    
	
(25)
    	
HIGHLAND CAPITAL PARTNERS VI LIMITED PARTNERSHIP
    
	
(26)
    	
HIGHLAND CAPITAL PARTNERS VI-B LIMITED PARTNERSHIP
    
	
(27)
    	
HIGHLAND ENTREPRENEURS’ FUND VI LIMITED PARTNERSHIP
    
	
(28)
    	
TRUSTBRIDGE   PARTNERS III, L.P.
    
	
(29)
    	
ZERO2IPO   CHINA FUND II, L.P.
    
	
(30)
    	
IDG TECHNOLOGY VENTURE INVESTMENT IV, LP
    
	
(31)
    	
CEYUAN VENTURES II, L.P.
    
	
(32)
    	
CEYUAN VENTURES   ADVISORS FUND II, LLC
    
	
(33)
    	
CRP HOLDING LIMITED
    

 

 

ADHERENCE AND AMENDMENT TO THE

 

SHAREHOLDERS AGREEMENT

 

Relating to

 

QIHOO 360 TECHNOLOGY COMPANY LIMITED

 

 

 

CONTENT

 

	
1.
    	
DEFINITIONS AND INTEPRETATION
    	
4
    
	
2.
    	
ADHERENCE TO THE EXISITNG SHAREHOLDERS AGREEMENT
    	
4
    
	
3.
    	
AMENDMENTS TO THE EXISITNG SHAREHOLDERS AGREEMENT
    	
5
    
	
4.
    	
EFFECTIVENESS
    	
8
    
	
5.
    	
GOVERNING   LAW
    	
8
    
	
6.
    	
ARBITRATION
    	
8
    
	
7.
    	
COUNTERPARTS
    	
10
    

 

 

THIS AGREEMENT is made the 1st day of January, 2011

 

BETWEEN:

 

(1)        Qihoo 360 Technology Company Limited (formerly known as “Qihoo Technology Company Limited”), an exempted company organized and existing under the laws of the Cayman Islands (the “Company”);

 

(2)        Qizhi Software (Beijing) Co., Ltd. (in Chinese: 奇智软件(北京)有限公司), a wholly foreign owned enterprise established under the laws of the PRC(“WFOE” or “Qizhi Beijing”);

 

(3)        Beijing 3G3W Science & Technology Co., Ltd. (in Chinese: 北京三际无限网络科技有限公司), a limited liability company established under the laws of the People’s Republic of China (“PRC”) (the “Beijing 3G3W”);

 

(4)        Beijing Qibu Tianxia Technology Co., Ltd. (in Chinese: 北京奇步天下科技有限公司), a limited liability company established under the laws of the PRC (“Qibu Tianxia”);

 

(5)        Beijing Qihoo Technology Company Limited (in Chinese: 北京奇虎科技有限公司),a limited liability company established under the laws of the PRC (“Beijing Qihoo”);

 

(6)        Qihoo 360 Software (Beijing) Company Limited (in Chinese: 奇虎三六零软件(北京)有限公司) , a limited liability company established under the laws of the PRC (“Qihoo 360”);

 

(7)        Shanghai Qitai Network Technology Co., Ltd. (in Chinese: 上海奇泰网络科技有限公司), a limited liability company established under the laws of the PRC (“Shanghai Qitai”);

 

(8)        Beijing Star World Technology Company Limited (in Chinese: 北京世界星辉科技有限公司), a limited liability company established under the laws of the PRC (“Star World”, together with Beijing 3G3W, Qibu Tianxia, Beijing Qihoo, Qihoo 360 and Shanghai Qitai, collectively the “Domestic Companies”, and individually each a “Domestic Company”);

 

(9)        Young Vision Group Limited, an exempted company organized and existing under the laws of the British Virgin Islands (“Young Vision”);

 

(10)      Shareholder of Young Vision listed on the signature page (the “Shareholder of Young Vision”);

 

(11)      Global Village Associates Limited, a company organized and existing under the laws of the British Virgin Islands (“Global Village”);

 

1

 

(12)      Shareholder of Global Village Associates Limited listed on the signature page (the “Shareholder of Global Village”);

 

(13)      The  persons named as Special Managers and Special Director  on the signature pages hereto;

 

(14)      Sequoia Capital China I, L.P., a limited partnership registered under the laws of the Cayman Islands (“Sequoia Capital”);

 

(15)      Sequoia Capital China Partners Fund I, L.P., a limited partnership registered under the laws of the Cayman Islands (“Sequoia Partners”);

 

(16)      Sequoia Capital China Principals Fund I, L.P., a limited partnership registered under the laws of the Cayman Islands (“Sequoia Principals”, together with Sequoia Capital and Sequoia Partners, “Sequoia”);

 

(17)      CDH Net Technology Limited, a company incorporated under the laws of the British Virgin Islands (“CDH”);

 

(18)      GMO Venture  Partners Investment Limited Partnership, a limited partnership registered under the laws of Japan (“GMO”);

 

(19)      IDG Technology Venture Investment III, LP, a limited partnership registered under the laws of the State of Delaware (“IDG III”);

 

(20)      Joinway Investments Limited, an exempted company organized and existing under the laws of the British Virgin Islands (“Joinway”);

 

(21)      Matrix Partners VII L.P.  , a limited partnership organized and existing under the laws of Delaware (“Matrix”);

 

(22)      Weston & Co. VII LLC, a limited liability company organized and existing under the laws of Delaware (“Weston”);

 

(23)      Redpoint Ventures III, L.P. (“Redpoint Ventures”);

 

(24)      Redpoint Associates III, LLC (“Redpoint Associates,” together with Redpoint Ventures, “RedPoint”);

 

(25)      Highland Capital Partners VI Limited Partnership, a limited partnership (“Highland VI”);

 

(26)      Highland Capital Partners VI-B Limited Partnership, a limited partnership (“Highland VI-B”);

 

(27)      Highland Entrepreneurs’ Fund VI Limited Partnership, a limited partnership (“HEF”, together with Highland VI and Highland VI-B, “Highland”);

 

(28)      Trustbridge Partners III, L.P. (“TBP”);

 

2

 

(29)      Zero2IPO China Fund II, L.P., a limited partnership registered under the laws of the Cayman Islands (“Zero2IPO”, together with TBP, the “Existing Series C Investors”);

 

(30)      IDG Technology Venture Investment IV LP, a limited partnership registered under the laws of the State of Delaware (“IDG IV”);

 

(31)      Ceyuan Ventures II, L.P.,  an exempted limited partnership registered in the Cayman Islands with address at c/o M&C Corporate Services, Ugland House, P.O. Box 309, Grand Cayman, Cayman Islands, British West Indies (“Ceyuan Ventures”);

 

(32)      Ceyuan Ventures Advisors Fund II, LLC,  an exempted limited partnership registered in the Cayman Islands with address at c/o M&C Corporate Services, Ugland House, P.O. Box 309, Grand Cayman, Cayman Islands, British West Indies (“Ceyuan Advisors”, together with Ceyuan Ventures, “Ceyuan”); and

 

(33)      CRP Holding Limited (“CRP”).

 

RECITALS

 

(A)       WHEREAS, the Company is a company limited by shares incorporated under the laws of the Cayman Islands under the Companies Law.

 

(B)       WHEREAS, the Company entered into that certain Share Subscription Agreement (the “Series C SSA”) on 22 December 2009 with the Existing Series C Investors and certain other parties described thereto to issue and allot a total of 7,831,467 Series C Preferred Shares in the share capital of the Company to the Existing Series C Investors (“Series C Financing”).

 

(C)       WHEREAS, pursuant to the Series C SSA, the parties (other than IDG IV, Ceyuan and CRP) entered into a Second Amended and Restated Shareholders Agreement (the “Existing Shareholders Agreement”) on 8 January 2010, pursuant to which the parties thereto have agreed, among other things, certain first offer and tag-along rights, preemptive rights and certain corporate governance rights and obligations pertaining to the Company.

 

(D)       WHEREAS, the Company omitted to offer to IDG III (in its capacity of a holder of Series A Preferred Shares and Series B Preferred Shares in the share capital of the Company) the opportunity to participate in the Series C Financing, inconsistent with IDG III’s right of first offer and pre-emption provided for in that certain Amended and Restated Shareholders Agreement dated November 7, 2006 and the Second Amended and Restated Memorandum and Articles of Association dated November 7, 2006 relating to the Company (the “Omission”).

 

(E)        WHEREAS, as an attempt to remedy the Omission, the Company, the Existing Series C Investors and other shareholders of the Company entered into that certain joinder agreement (the “IDG IV Joinder Agreement”) with IDG IV on 26 April 2010, pursuant to which the Company and the Existing Series C Investors and other shareholders of the

 

3

 

Company agreed, among others, that in consideration of IDG III agreeing to waive any rights it may have to participate in the Series C Financing and any claims it may have in respect of the Omission, IDG IV shall, in respect of 156,631 Series A Preferred Shares it acquired from GMO only, be entitled to certain rights, privilege and preference of Series C Shares provided for in the Original Series C Agreements as if IDG IV were an original party to the Original Series C Agreements subscribing for or holding 156,631 Series C Preferred Shares.

 

(F)        WHEREAS, the Company, the Existing Series C Investors, IDG IV and certain other parties entered into a Supplemental Subscription, Amendment and Adherence Agreement relating to the Company on                       , 2011 (“Supplemental Series C Subscription Agreement) pursuant to which the Company agrees to purchase 156,631 Series A Preferred Shares from. and issue and allot 156,631 Series C Preferred Shares to, IDG IV pursuant to the terms set forth therein.

 

(G)       WHEREAS, it is a requirement under the Supplemental Series C Subscription Agreement that the Parties enter into this Agreement on or prior to the Completion thereof in order for IDG IV to take the benefit of certain rights and assume certain obligations under, and  to amend, the Existing Shareholders Agreement.

 

NOW IT IS HEREBY AGREED as follows:

 

1.                DEFINITIONS AND INTEPRETATION

 

1.1  In this Agreement, words and expressions defined in the Existing Shareholders Agreement shall, unless otherwise provided, bear the same meanings when used herein (including the Recitals), and all provisions of the Existing Shareholders Agreement  required to give meaning or effect to the provisions of this Agreement shall (to that extent) be deemed to be incorporated herein.

 

1.2  Unless the context otherwise requires, references to sections, subsections or schedules refer to sections, subsections or schedules of this Agreement.

 

2.                ADHERENCE TO THE EXISITNG SHAREHOLDERS AGREEMENT

 

Subject as provided in Section 3, and with effect from Completion (as defined below):

 

(a)            IDG IV agrees (with effect from Completion) to adhere to and be bound by all provisions of the Existing Shareholders Agreement in so far as they impose obligations on all parties thereto or on all Shareholders, the Investors, holders of Series C Preferred Shares, the Holders, the Rightholders, the Tag-along Rightholders or the Preemptive Rightholders thereunder.

 

4

 

(b)           The parties (other than IDG IV) hereto agree that IDG IV shall be entitled to the benefit of all rights given in the Existing Shareholders Agreement to all parties thereto, or on all Shareholders, the Investors, the Preferred Shareholders, the Holders, the Rightholders, the Tag-along Rightholders,  the Preemptive Rightholders or holders of Series C Preferred Shares thereunder.

 

(c)           With effect from Completion, IDG IV shall be and become a party in the Existing Shareholders Agreement in accordance with the foregoing provisions of this Section 2.

 

3.                AMENDMENTS TO THE EXISITNG SHAREHOLDERS AGREEMENT

 

The Parties agree that the Existing Shareholders Agreement shall be amended with effect from Completion as follows:

 

3.1  By adding the following to the parties at the end of “(30) Zero2IPO China Fund II, L.P. (“Zero2IPO”), a limited partnership registered under the laws of the Cayman Islands.” in the preamble thereto:

 

“(31)       IDG Technology Venture Investment, a limited partnership registered under the laws of the State of Delaware (“IDG IV”);

 

(32)         Ceyuan Ventures II, L.P.,  an exempted limited partnership registered in the Cayman Islands with address at c/o M&C Corporate Services, Ugland House, P.O. Box 309, Grand Cayman, Cayman Islands, British West Indies (“Ceyuan Ventures”);

 

(33)         Ceyuan Ventures Advisors Fund II, LLC,  an exempted limited partnership registered in the Cayman Islands with address at c/o M&C Corporate Services, Ugland House, P.O. Box 309, Grand Cayman, Cayman Islands, British West Indies (“Ceyuan Advisors”, together with Ceyuan Ventures, “Ceyuan”); and

 

(34)         CRP Holding Limited (“CRP”).”

 

3.2  by the deletion of the paragraph read as “Each of Sequoia, CDH, GMO, IDG, Joinway, Matrix, Weston, Highland, Redpoint, TBP and Zero2IPO shall be referred to as an “Investor” and collectively as the “Investors.” in the preamble thereto and its replacement with the following:

 

“Each of Sequoia, CDH, GMO, IDG, Joinway, Matrix, Weston, Highland, Redpoint, TBP, Zero2IPO, IDG IV and Ceyuan shall be referred to as an “Investor” and collectively as the “Investors.”

 

3.3  by the insertion of the following definition in section 1:

 

“Ceyuan” has the meaning given to that term in the preamble hereto;

 

5

 

“Ceyuan Advisors” has the meaning given to that term in the preamble hereto;

 

“Ceyuan Ventures” has the meaning given to that term in the preamble hereto;

 

“CPR” means CRP Holding Limited;

 

“IDG IV”  has the meaning given to that term in the preamble hereto;

 

“Supplemental Series C Subscription Agreement”  means the Supplemental Subscription, Amendment and Adherence Agreement relating to the Company entered into among the Company, TBP, Zero2IPO, IDG IV and certain other parties described therein on                       , 2011.”

 

3.4  by the deletion of Clause 4.1(a) of the Existing Shareholders Agreement in its entirety and its replacement with the following

 

“(a) Issuance of 156,631  Series C Preferred Shares pursuant to the  Supplemental Series C Subscription Agreement; ”

 

3.5  by the deletion of Clause 4.1(b) of the Existing Shareholders Agreement in its entirety and its replacement with the following

 

“(b) the grant of options to purchase up to 16,652,751 Ordinary Shares (including options already granted) to employees, officers or consultants of any Group Companies pursuant to a share option plan approved by the Compensation Committee and the issuance of the corresponding ordinary shares upon exercise thereof ;”

 

3.6  by the deletion of Clause 6.4(f) of the Existing Shareholders Agreement in its entirety and its replacement with the following:

 

“(f) A compensation committee (“Compensation Committee”) shall be established under the Board of Directors as soon as practicable, consisting of three Founder Directors, two Series A Directors and the Series B Director.  The Board of Directors shall delegate to the Compensation Committee the power to approve (i) the Company’s compensation guidelines; (ii) employment of the Company’s Chief Executive Officer, Chief Financial Officer, Chief Operating Officer, Chief Technology Officer of the Company, and their respective remuneration or compensation, all based on recommendation from the Special Director; and (iii) an employee share option plan under which up to 16,652,751 Ordinary Shares shall be reserved for issuance (as adjusted for any share dividend, share split or combination) subject to a four-year granting schedule.”

 

3.7  by the deletion of Clause 6.6(a)(x) of the Existing Shareholders Agreement in its entirety and its replacement with the following:

 

“(x) acquire any business in a series of transactions relating to the same subject matter for a price in excess of US$1,000,000; ”

 

6

 

3.8  by the deletion of Clause 6.6(a)(xii) of the Existing Shareholders Agreement in its entirety and its replacement with the following:

 

“(xii) acquire any assets in a series of transactions relating to the same subject matter with a value in excess of US$1,000,000; ”

 

3.9  by the deletion of Clause 6.6(b)(x) of the Existing Shareholders Agreement in its entirety and its replacement with the following:

 

“(x) acquire any business in a series of transactions relating to the same subject matter for a price in excess of US$1,000,000; ”

 

3.10  by the deletion of Clause 6.6(b)(xii) of the Existing Shareholders Agreement in its entirety and its replacement with the following:

 

“(xii) acquire any assets in a series of transactions relating to the same subject matter with a value in excess of US$1,000,000; ”

 

3.11  by the insertion of the following paragraphs  at the end of Section 8.1(e) thereof:

 

“IDG Technology Venture Investment IV, L.P.

 

c/o IDG Capital Management (HK) Ltd.

 

Unit 1509,15/F The Centre

 

99, Queen’s Road

 

Central, Hong Kong

 

Attention: Mr. Simon Ho

 

Fax: (852) 25291619

 

 

Ceyuan Ventures II, L.P. or Ceyuan Ventures Advisors Fund II, LLC

 

M&C Corporate Services Limited

 

P.O. Box 309GT, Ugland House

 

Grand Cayman, Cayman Islands

 

With a copy to:

 

No. 35 Qin Lao Hutong, Dongcheng District

 

Beijing, 100009  P.R.C.

 

7

 

Tel: 86 10 84028800

 

Fax: 86 10 84020999

 

Attention: Mr. Yuan Ye

 

 

CRP Holding Limited

 

Address: 21st Floor, Tower C  Central International Trade Center, 6 Jianguomenwai Avenue, Beijing 100022

 

Fax: +86 10 85679989

 

Attention: Wang Xinwei”

 

For the purposes of this Agreement, the term “Completion” shall have the meaning ascribed to such term under the Supplemental Series C Subscription Agreement

 

4.                EFFECTIVENESS

 

This Agreement shall be supplemental to the Existing Shareholders Agreement, and the Existing Shareholders Agreement, as amended hereby, shall remain in full force and effect.

 

5.                TERMINATION OF JOINDER AGREEMENT

 

In consideration of the mutual covenants and promises contained herein, each of the parties to the IDG IV  Joinder Agreement hereby confirms and covenants with each of the other parties thereto that, with effect immediately upon Completion: (a) the IDG IV  Joinder Agreement shall be absolutely terminated; and (b) none of the parties to the Joinder Agreement have or shall have any further rights, claims or interests whatsoever against any of the other parties to the IDG IV Joinder Agreement under or in respect of the Joinder Agreement.

 

6.                GOVERNING LAW

 

THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO THE PRINCIPLES OF CONFLICTS OF LAW THEREOF.

 

7.                ARBITRATION

 

Except as otherwise provided in this agreement, any dispute or claim arising out of or in connection with or relating to this agreement, or the breach, termination or invalidity hereof, shall be finally settled by arbitration at the Hong Kong International Arbitration Centre (the “HKIAC”) under the rules of the HKIAC (the “Rules”) as are in force at the

 

8

 

date of the notice of arbitration commencing any such arbitration, but subject to the amendments made to the Rules by the rest of this Section 7.  For the purpose of such arbitration, there shall be a board of arbitration (the “Board of Arbitration”) consisting of three arbitrators: the Investors as one side shall select one (1) arbitrator, all other parties as the other side shall select one (1) arbitrator, and the third arbitrator shall be selected by mutual agreement of the first two arbitrators, or if these two arbitrators fail to reach agreement on a third arbitrator within twenty (20) days after their selection, such third arbitrator shall thereafter be selected by the HKIAC upon application made to it by either side of the arbitration for such purpose.  The place of arbitration shall be in Hong Kong.  All arbitration proceedings shall be conducted in the English language.  The arbitrators shall decide any such dispute or claim strictly in accordance with the governing law specified in Section 6.  Judgment upon any arbitral award rendered hereunder may be entered in any court, and/or application may be made to any such court for a judicial acceptance of the award and/or an order of enforcement, as the case may be. In the event that arbitrators cannot be selected in accordance with the forgoing of this subsection, parties agree to give the right to select all three arbitrators to HKIAC based on the principles of equitability and fairness.

 

(a)           Each party shall cooperate in good faith to expedite (to the maximum extent practicable) the conduct of any arbitral proceedings commenced under this agreement.

 

(b)           Unless the Board of Arbitration shall determine or rule otherwise, the costs and expenses of the arbitration, including the fees of the arbitration, including the fees of the Board of Arbitration, shall be borne (i) by the losing side in the event an award is made in favor of the other side to the arbitration or (ii)  equally by each side to the dispute or claim in the event no award is made in favor of any side to the arbitration. Each party shall pay its own fees, disbursements and other charges of its counsel.

 

(c)           Any award made by the Board of Arbitration shall be final and binding on each side to the dispute.  If arbitral award is rendered in favor of the Investors, the arbitral award shall be final and binding on all other parties to this Agreement (as applicable), and vice versa.  The parties expressly agree to waive the applicability of any laws and regulations that would otherwise give the right to appeal the decisions of the Board of Arbitration so that there shall be no appeal to any court of law from the award of the Board of Arbitration, and a party shall not challenge or resist the enforcement action taken by any other party in whose favor an award of the Board of Arbitration was given.

 

(d)           This Agreement and the rights and obligations of the parties shall remain in full force and effect pending the award in any arbitration proceeding hereunder.

 

9

 

8.                COUNTERPARTS

 

This Agreement may be executed in any number of documents or counterparts each in the like form, all of which taken together shall constitute one and the same document and any party may execute this Agreement by signing any one or more of such documents or counterparts.

 

10

 

EXECUTION PAGE

 

IN WITNESS WHEREOF this Agreement has been executed by the parties or their duly authorised representatives on the day and year first above written.

 

 

	
 
    	
QIHOO 360 TECHNOLOGY COMPANY LIMITED
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Xiangdong Qi
    
	
 
    	
 
    	
Name: Xiangdong QI
    
	
 
    	
 
    	
Title:
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
QIZHI SOFTWARE (BEIJING)   CO., LTD.
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ [Company Stamp of Qizhi Software   (Beijing) Co., Ltd.]
    
	
 
    	
 
    	
Name:
    
	
 
    	
 
    	
Title:
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
BEIJING 3G3W   SCIENCE & TECHNOLOGY
    
	
 
    	
 
    	
 
    
	
 
    	
CO., LTD.
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ [Company Stamp of Beijing 3G3W Science &   Technology Co., Ltd.]
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
Name:
    
	
 
    	
 
    	
Title:
    
				

 

11

 

	
 
    	
BEIJING QIBU TIANXIA TECHNOLOGY CO., LTD.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ [Company Stamp of Beijing Qibu Tianxia Technology   Co., Ltd.
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
Name:
    
	
 
    	
 
    	
Title:
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
BEIJING QIHU TECHNOLOGY   COMPANY LIMITED
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ [Company Stamp of Beijing Qihu Technology   Company Limited]
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
Name:
    
	
 
    	
 
    	
Title:
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
QIHOO 360 SOFTWARE (BEIJING)   COMPANY LIMITED
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ [Company Stamp of Qihoo 360 Software (Beijing)   Company Limited]
    
	
 
    	
 
    	
Name:
    
	
 
    	
 
    	
Title:
    

 

12

 

	
 
    	
SHANGHAI QITAI NETWORK TECHNOLOGY CO., LTD.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ [Company Stamp of Shanghai Qitai Network Technology   Co., Ltd.]
    
	
 
    	
 
    	
Name:
    
	
 
    	
 
    	
Title:
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
BEIJING STAR WORLD   TECHNOLOGY COMPANY LIMITED
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ [Company Stamp of Beijing Star World Technology   Company Limited]
    
	
 
    	
 
    	
Name:
    
	
 
    	
 
    	
Title:
    

 

13

 

	
 
    	
YOUNG VISION GROUP LIMITED
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Xiangdong Qi
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
Name:
    
	
 
    	
 
    	
Title:
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
SHAREHOLDER OF YOUNG VISION   GROUP LIMITED
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Xiangdong Qi
    
	
 
    	
 
    
	
 
    	
Name:
    

 

14

 

	
 
    	
GLOBAL VILLAGE ASSOCIATES   LIMITED
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Hongyi Zhou
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
Name:
    
	
 
    	
 
    	
Title:
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
SHAREHOLDER OF GLOBAL   VILLAGE ASSOCIATES LIMITED
    
	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Hongyi Zhou
    
	
 
    	
 
    	
 
    
	
 
    	
Name:
    

 

15

 

	
 
    	
INVESTORS
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
SEQUOIA CAPITAL CHINA I,   L.P.
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
Sequoia Capital China   Management I, L.P., a Cayman Islands Exempted Limited Partnership, its   General Partner
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
SC China Holding   Limited, a Cayman Islands Limited Liability Company, its  General Partner
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Neil Shen
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
Name: Neil Shen
    
	
 
    	
 
    	
Title: Director
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
SEQUOIA CAPITAL CHINA   PARTNERS FUND I, L.P.
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
Sequoia Capital China   Management I, L.P., a Cayman Islands Exempted Limited Partnership, its   General Partner
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
SC China Holding   Limited, a Cayman Islands Limited Liability Company, its General Partner
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Neil Shen
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
Name: Neil Shen
    
	
 
    	
 
    	
Title: Director
    

 

16

 

	
 
    	
SEQUOIA CAPITAL CHINA   PRINCIPALS FUND I, L.P.
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
Sequoia Capital China   Management I, L.P., a Cayman Islands Exempted Limited Partnership, its   General Partner
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
SC China Holding   Limited, a Cayman Islands Limited Liability Company, its General Partner
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Neil Shen
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
Name: Neil Shen
    
	
 
    	
 
    	
Title: Director
    

 

17

 

	
 
    	
CDH   NET TECHNOLOGY LIMITED
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Gongquan Wang
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
Name: Gongquan Wang
    
	
 
    	
 
    	
Title: Director
    

 

18

 

	
 
    	
GMO   VENTUREPARTNERS INVESTMENT LIMITED PARTNERSHIP
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Ryu Muramutsu
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
Name: Ryu Muramatsu
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
Title: General Partner
    

 

19

 

	
 
    	
IDG TECHNOLOGY VENTURE INVESTMENT   III, L.P.
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
IDG Technology Venture   Investment III, LLC, its General Partner
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Simon Ho
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
Name:
    
	
 
    	
 
    	
Title:
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
IDG TECHNOLOGY VENTURE   INVESTMENT IV, L.P.
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
IDG Technology Venture   Investment IV, LLC, its General Partner
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Simon Ho
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
Name:
    
	
 
    	
 
    	
Title:
    
				

 

20

 

	
 
    	
MATRIX PARTNERS VII, L.P.
    
	
 
    	
 
    	
 
    
	
 
    	
By: Matrix VII Management Co. L.L.C.
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Tim Barrows
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
Name:
    
	
 
    	
 
    	
Title:
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
WESTON & CO. VII   LLC
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
Matrix Partners Management Services, L.P., Sole
   Manager
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
Matrix Partners Management Services GP, LLC,
   its General Partner
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Tim Barrows
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
Name:
    
	
 
    	
 
    	
Title:
    

 

21

 

	
 
    	
HIGHLAND CAPITAL PARTNERS VI   LIMITED
   PARTNERSHIP
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
Highland Management Partners VI Limited
   Partnership, its General Partner
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
Highland Management   Partner VI, Inc., its
   General Partner
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Kathleen Barry
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
Name:
    
	
 
    	
 
    	
Title: Authorized Officer
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
HIGHLAND CAPITAL PARTNERS   VI-B
   LIMITED PARTNERSHIP
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
Highland Management Partners VI Limited
   Partnership, its General Partner
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
Highland Managements   Partner VI, Inc., its
   General Partner
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Kathleen Barry
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
Name:
    
	
 
    	
 
    	
Title: Authorized Officer
    

 

22

 

	
 
    	
HIGHLAND ENTREPRENEURS’ FUND   VI
   LIMITED PARTNERSHIP
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
HEF VI Limited   Partnership, its General
   Partner
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
Highland Management   Partner VI, Inc., its
   General Partner
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Kathleen Barry
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
Name:
    
	
 
    	
 
    	
Title: Authorized Officer
    

 

23

 

	
 
    	
JOINWAY INVESTMENTS LIMITED
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Hu Huan
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
Name:
    
	
 
    	
 
    	
Title:
    

 

24

 

	
 
    	
REDPOINT VENTURES III, L.P.
    
	
 
    	
 
    	
 
    
	
 
    	
By: Redpoint Ventures III, LLC, its General   Partner
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ John Walecka
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
Name: John Walecka
    
	
 
    	
 
    	
Title: Managing Director
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
REDPOINT ASSOCIATES III, LLC, as nominee:
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ John Walecka
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
Name: John Walecka
    
	
 
    	
 
    	
Title: Managing Director
    

 

25

 

	
 
    	
TRUSTBRIDGE PARTNERS III, L.P.
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
TB PARTNERS GP3, L.P.,its
   general partner
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
TB PARTNERS GP LIMITED,  its
   general partner
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Shujun Li .
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
Name:  Shujun Li
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
Title:  Director
    

 

26

 

	
 
    	
ZERO2IPO CHINA FUND II,   L.P.
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Danny Chung
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
Name: Mr. Danny Chung
    
	
 
    	
 
    	
Title: Managing Director
    

 

27

 

	
 
    	
CEYUAN VENTURES II, L.P.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By: Ceyuan Ventures Management II, LLC
    
	
 
    	
 
    
	
 
    	
Its: General Partner
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Yuan Ye
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
Executive Managing Director
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
CEYUAN   VENTURES   ADVISORS FUND II, LLC
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Yuan Ye
    
	
 
    	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Name:
    
	
 
    	
 
    
	
 
    	
Title:
    

 

28

 

	
 
    	
SPECIAL MANAGERS
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Hongyi Zhou
    
	
 
    	
 
    	
 
    
	
 
    	
HONGYI ZHOU
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Xiangdong Qi
    
	
 
    	
 
    	
 
    
	
 
    	
XIANGDONG QI
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Xiaohong Shi
    
	
 
    	
 
    	
 
    
	
 
    	
XIAOHONG SHI
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Shu Cao
    
	
 
    	
 
    	
 
    
	
 
    	
SHU CAO
    

 

29

 

	
 
    	
SPECIAL DIRECTOR
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Hongyi Zhou
    
	
 
    	
 
    	
 
    
	
 
    	
HONGYI ZHOU
    

 

30

 

	
 
    	
CRP HOLDING LIMITED
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Fan Bao
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
Name:   Fan Bao
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
Title: CEO
    

 

31

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00186-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00186-of-00352.parquet"}]]